Подходы к оценке финансовой реализуемости инвестиционного проекта
Abstract
В статье рассмотрен подход к оценке достаточности денежных средств для реализации инвестиционного проекта, используемого различными международными организациями и странами. Автором отмечено наличие в белорусских Правилах разработки бизнес–планов инвестиционных проектов альтернативного показателя, отмечены его недостатки. На основании необходимости вложения денежных средств в наиболее прибыльные проекты, автором предложена оценка финан-совой реализуемости инвестиционных проектов с учетом национальных особенностей. Ключевые слова: инвестиционный проект, показатели эффективности, финансовая реализуемость инвестиционного проекта, оценка эффективности, денежные потоки инвестиционного проекта, денежные притоки, денежные оттоки. = The article describes approaches to assessing the sufficiency of money for investment projects implementation used by different international organizations and countries. Author noted that there is an alternative indicator in the Belarusian techniques for investment projects design and also notices its shortcomings. On the basis of the need to invest money in the most profitable projects, the author proposed assessment of the financial feasibility of investment projects taking into consideration the peculiarities of national techniques. Key words: investment project, performance indicators, financial feasibility of the investment project, commercial profitability, cash flows of investment project, cash inflows, cash outflows.References
Guide to Cost–benefit Analysis of Investment Projects: Economic appraisal tool for Cohesion Policy 2014–2020 / European Commission, Directorate–General for Regional and Urban policy. – Luxembourg: Publication Office of the European Union, 2014. – 341 p.
Manual for Evaluation of Industrial Projects / United Nations Industrial Development Organization. – Vienna: UNIDO Publication, 1986 – 151 p.
Методические рекомендации по оценке эффективности инвестиционных проектов, 2–я редакция / М–во экон. РФ, М–во фин. РФ, ГК по стр–ву, архит. и жил. политике; рук. авт. кол.: В.В. Коссов, В.Н. Лившиц, А.Г. Шахназаров [и др.]. – М: Экономика, 2000. – 235 с.
Об утверждении Правил по разработке бизнес–планов инвестиционных проектов [Электронный ресурс]: Постановление Министерства экономики Респ. Беларусь, 31 августа 2005 г., № 158: с изм. и доп. на 29.02.2012 // Нац. центр правовой информ. Респ. Беларусь. – 2012. – Режим доступа:
http://www.pravo.by/main.aspx?guid=3961&p0=W20513184. – Дата доступа : 21.02.2015.
Инструкция о порядке составления бухгалтерской отчетности [Электронный ресурс]: Постановление Министерства финансов Респ. Беларусь, 31 октября 2011 г., № 111 // Нац. центр правовой информ. Респ. Беларусь. – 2012. – Режим доступа : http://pravo.newsby.org/belarus/postanov3/pst168.htm. – Дата доступа: 20.02.2015.
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