Time value of money（貨幣的時(shí)間價(jià)值）是什么_2020年ACCA考試FM知識(shí)點(diǎn)
距離2020年12月ACCA考試已經(jīng)不足一個(gè)月的時(shí)間了，大家都準(zhǔn)備的如何呢？為了幫助大家高效備考，東奧小編為大家整理了ACCA考試相關(guān)知識(shí)點(diǎn)，趕快來(lái)看一下吧。
【內(nèi)容導(dǎo)航】
Time value of money（貨幣的時(shí)間價(jià)值）
【知識(shí)點(diǎn)】
Time value of money（貨幣的時(shí)間價(jià)值）
Compounding
Suppose that a company has $10,000 to invest, and wants to earn a return of 10% (compound interest) on its investments. This means that if the $10,000 could be invested at 10%, the value of the investment with interest would build up as follows.
After 1 year $10,000 × (1.10) = $11,000
After 2 years $10,000 × (1.10)2 = $12,100
After 3 years $10,000 × (1.10) 3 = $13,310 and so on.
This is compounding. The formula for the future value of an investment plus accumulated interest after n time periods is:
FV= PV (1 + r) n
Where FV is the future value of the investment with interest
PV is the initial or 'present' value of the investment
r is the compound rate of return per time period, expressed as a proportion (so 10% = 0.10, 5% = 0.05, and so on)
n is the number of time periods
Discounting
Discounting starts with the future value, and converts a future value to a present value. Discounting tells us how much an investment will be worth in today's terms. This method can be used to compare two investments with different durations.
Present value is the cash equivalent now of a sum of money receivable or payable at a stated future date, discounted at a specified rate of return.
Discount rate, discount factor and Present value table
The above formula, r is the discount rate, the value of (1+r)-n is discount factor, which we will use to calculate the PV. In order to obtain the discount factor quickly, there is present value table offered in the exam which we can use.
While making investment appraisal, selecting discount rate is very important, (usually required rate of return, cost of capital) which should represent the opportunity cost of investment, and will be covered in details in later chapters.
滴水石穿，鐵杵成針。備考ACCA考試，大家一定要腳踏實(shí)地走好每一步，最后，預(yù)祝大家順利通過(guò)ACCA考試。
注：以上內(nèi)容來(lái)自Echo老師基礎(chǔ)班第15講
(本文為東奧會(huì)計(jì)在線原創(chuàng)文章，僅供考生學(xué)習(xí)使用，禁止任何形式的轉(zhuǎn)載)
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