T. Melikhova. The use of existing methods for calculating the investment return period for calculating the cost recovery of the enterprise's economic security service.
DOI:
https://doi.org/10.31498/2225-6407.16.2017.136394Keywords:
methods, period of return, advance investments, payback, economic security of the enterprise.Abstract
The considered methods of determining the period of advance investments return of suggest that any project may be accepted for implementation, including the creation of a service of economic security of the enterprise, the payback period of which is less than the established (normative, specified) time. By comparing the approaches to determining the payback period for investments in the establishment of the economic security service of the enterprise, we have reached the following conclusions: 1) foreign methods correspond more to the question of what will be the payback period of investments to establish an enterprise's economic security service, then the source of return - money flow is used; 2) the period calculated in the previously existing Methods is an indicator of the return on investments and, in economic terms, does not reflect the payback period for the establishment of an enterprise's economic security service; therefore, the return on investment through profit does not actually take place; 3) economic content, as a normative (predetermined, planned) value of investments, is the profit of the normative period, therefore the change of indicators (product) in this formula leads to incorrect theoretical generalizations and conclusions; 4) an indicator equal to the ratio of capital investments to annual profit, shows how the capital investment exceeds profit, therefore, it is not justified and theoretically is not substantiated to consider this relation with the payback period of capital investments. To analyze the existing methods of determining the period of return of investments that can be directed to the establishment of the company's economic security service, one should notice the following shortcomings, namely: they are separated from the real interaction of the results and expenses of the enterprise in the short and long term; do not take into account that part of the profit involved in the return of investments, and not the entire profit (gross, net, given); do not take into account the commercial interests of the investor (creditor) who wishes to earn on the project; do not take into account the peculiarities of the circulation of fixed assets and working capital.
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