YaylaFinance.com

The financing is one of the three components of the  para  financial sector and covers all operational processes for the provision and repayment of the funds needed for investment. Among all the measures fall from procurement to repayment of funds and the associated design of the payment, information, co-determination, control and security relations between companieen and ofcourse  investors.

Initially, we looked under the heading of financing to raise capital only by issuing securities. Later the term was the return of capital and transfer to a comprehensive "supply a buyuk  company with a capital" expands.

The financing can be divided into the sources of funds (outside finance or internal sources), while members of the legal position of the tamamcikopi investors (equity holders or creditors), so that a two-times-two matrix yields:

* = Externally financed debt loan
* = Externally financed self-financing equity financing
* Self-financing Innenfinanzierte = kendi self
* = Innenfinanzierte debt financing from reserves


Internal financing is a financing Accumulation (retention) of ceskizmn past profits. These two conditions must be met:

* The company will receive cash from the internal sales and service process
* The inflow face no cash disbursements.

A measure of the internal financing is the potential cash-flow ratio, simplifying the payment surplus.

Also this point will be split between two possible financing sub-items:

* Open self: retained earnings: formation of retained earnings
* Hidden self (silent self): release of hidden reserves

The open self-reported earnings are either fully retained or at least in part. Will they keep all the members give up their profits, while corporations are allowed to retain only a part. If the income paid out, while carried out a capital increase by the amount of the profits - can be saved depending on the tax system - taxes. This situation is known as "pay-out-get-back" method.

The concealed or hidden self is possible in two forms: first, by the application of mandatory rules of profit (such as depreciation, provisions) and through the use of travels, which provides the underlying accounting system. Hidden reserves resulting from the precautionary principle and the application of assessment and accounting options and some are illegal:

* Overstatement of liabilities
* Valuation of assets (tempered and lower maintenance options)
o Not recognized fortune by exploiting the Accounting options (for example, non-activation of low-value assets)
o low approach of assets (for example, high rates of depreciation, possibly special depreciation)
o failure of write-ups (for example, by cost / production ceiling in the balance sheet).

The self, in some situations be advantageous, since these taxes are saved, which can increase the strength of a company crisis and forced by a lack of interest-risk business strategy. At the same time may also be capital are not used optimally and in comparison to market alternatives, it could relatively "expensive" (possible cost by missing earnings in financial assets) to be.
Funding from allocations to provisions and write-offs [edit]

To avoid yanlisanalma misunderstandings is to emphasize at the outset that affect accruals and depreciation in the cash flow statement as a "flow" of cash. However, this is the only reason the case, because accruals and depreciation expense than the initial size of the cash flows, reduced earnings after taxes. Since these expenses are not connected to the outflow of cash, the result will be revised after taxes by these two items back-added. Nevertheless, accruals, depreciation and amortization for the following reasons act as a financing:

The formation of reserves are funds tied to a company, as the charge to reduce the annual surplus reserves, so that less money for payouts (outflows) are available. The crucial factor is the maturity of the provision, because the only long-term konisyon  provisions sufficient financing effect. They are also known as internal debt.

Of great importance in this context, pension provisions, particularly in the phase of new commitments. They have by their exceptional longevity almost in the nature of equity from the perspective of the company, from the perspective of many external  huztinixi  analysts (at least from the perspective of rating agencies) but are in fact treated as debt.

Return flows from financing amortization is principally based on savings withdrawals, as the purchase of capital goods and is possibly the related payout odeme in an earlier period. This happens a financial effect, the depreciation equivalents must be accrued to the company as deposits.

If the funds flowing back not required for replacement, so this is called a capital release effect. If the free cash immediately reinvested in capital goods of the same type and same cost and so it follows the capacity expansion effect.

Shifts in power sector take place when material and / or intangible assets are transferred into liquid form. One speaks in this context of substitute financing. This shift is mainly through the sales process.

External financing means financing transactions where the company funds are supplied from outside, ie not derived from the power generation of the company. The entrepreneur, or the sahipleri or shareholders have the option of the capital entrusted to companies. For this purpose, made deposits, which is called self-financing or equity financing. However, the company can finance through loans (through borrowing), where one speaks of a debt.

Self-financing means financing transactions where the company additional capital is made available, ie in which the shareholders (owners) to carry the company funds. It is also known as "the equity and deposit funding. The injection of capital can be done by increasing the deposits or by acquisition of new partners bring, what new deposits. Also for self-financing is the self. Since the capital beri but here comes from "inside", that is, from the business process is the self part of the internal financing. The self-financing is an item of both the external and internal financing.

A distinction is made between issuable (AG, KGaA) and non-issuable company (general partnership, limited liability company, limited partnership, cooperative). The latter hayixoqave have not the possibility of its securities on the Stock Exchange (issue shares) and to apply such high amounts of equity. Especially for investors here the disadvantage is the limited marketability of the shares, so they need to bind the longer term.

As debt financing all operations are called, which will leverage the company provided. Debt financing relates generally be funded by loans, which means the capital flows from the outside by lenders in the business. Due to lack of participation rights and participation in the profit / loss for the lender, in return for an interest rate is paid. This typically belirgin includes the risk-free market rate plus an appropriate risk premium, which depends on the extent of the assets and estimated risk. In addition, the borrowers repay the loan even in case of loss. If this is not possible, the security, which has called for the lender usually in the contract is returned to the lender.