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政策有变(bian)动，但是教材没变(bian)。
1. 流(liu)动(dong)比率＝流(liu)动(dong)资(zi)产÷流(liu)动(dong)负债
2. 速动比率(lv)＝速动资产÷流动负债
a) 保(bao)守(shou)速动比率＝（现金＋短期(qi)证(zheng)券＋应收票(piao)据＋应收账款净额）÷流动负(fu)债
3. 营业周期＝存货周转天数(shu)＋应(ying)收账款周转天数(shu)
4. 存货(huo)周转率（次数(shu)）＝销售(shou)成本÷平均(jun)存货(huo)其中：平均(jun)存货(huo)＝（存货(huo)年初数(shu)＋存货(huo)年末(mo)数(shu)）÷2
a) 存货(huo)周转(zhuan)天数＝360/存货(huo)周转(zhuan)率＝（平均存货(huo)×360）÷销售成本
5. 应收账款(kuan)周转率(lv)（次）＝销售收入÷平均应收账款(kuan)
a) 销(xiao)售收(shou)(shou)(shou)入为(wei)扣(kou)除折(zhe)扣(kou)与折(zhe)让后的净额；应收(shou)(shou)(shou)账款(kuan)是(shi)未扣(kou)除坏账准备的金额 b) 应收(shou)(shou)(shou)账款(kuan)周转(zhuan)天(tian)数＝360÷应收(shou)(shou)(shou)账款(kuan)周转(zhuan)率＝（平(ping)均(jun)应收(shou)(shou)(shou)账款(kuan)×360）÷销(xiao)售收(shou)(shou)(shou)入净额
6. 流动资(zi)产(chan)周转率(lv)（次数）＝销(xiao)售收入÷平均流动资(zi)产(chan)
7. 总资(zi)产周转率＝销售收(shou)入÷平均资(zi)产总额
8. 资产(chan)负(fu)(fu)债(zhai)率＝（负(fu)(fu)债(zhai)总额(e)÷资产(chan)总额(e)）×100% （也称(cheng)举债(zhai)经营(ying)比(bi)率）
9. 产权比率＝（负债(zhai)总额÷股东权益）×100% （也称债(zhai)务股权比率）
10. 有(you)形(xing)净(jing)值(zhi)债(zhai)务率＝[负债(zhai)总(zong)额÷（股(gu)东权益(yi)－无形(xing)资产净(jing)值(zhi)）] ×100%
11. 已获利(li)(li)息(xi)倍数＝息(xi)税(shui)前利(li)(li)润÷利(li)(li)息(xi)费用
a) 长期(qi)债(zhai)务(wu)与营运(yun)资金(jin)比(bi)率＝长期(qi)负债(zhai)÷（流动资产－流动负债(zhai)）
12. 销售(shou)净利(li)率＝（净利(li)润÷销售(shou)收入(ru)）×100%
13. 销(xiao)售(shou)毛利率＝[（销(xiao)售(shou)收入－销(xiao)售(shou)成(cheng)本）÷销(xiao)售(shou)收入]×100%
14. 资(zi)产净利率＝（净利润(run)÷平均资(zi)产总额）×100%
15. 净资(zi)产收(shou)益率＝净利润÷平均净资(zi)产（或年末净资(zi)产）×100%
或＝销售净利率(lv)×资产周转(zhuan)率(lv)×权益乘数
16. 权益(yi)乘数＝资(zi)产总额(e)÷所有者权益(yi)总额(e)＝1÷（1－资(zi)产负(fu)债(zhai)率(lv)）＝1＋产权比率(lv)
17. 平均发行在(zai)外普通(tong)股(gu)股(gu)数＝∑（发行在(zai)外的(de)普通(tong)股(gu)数×发行在(zai)外的(de)月份数）÷12
18. 每(mei)股收益(yi)＝净利润(run)÷年(nian)末(mo)普通股份总(zong)数＝（净利润(run)－优(you)先(xian)股利）÷（年(nian)末(mo)股份总(zong)数－年(nian)末(mo)优(you)先(xian)股数）
19. 市(shi)盈(ying)率（倍数）＝普(pu)通(tong)股每市(shi)价(jia)÷每股收益
20. 每股(gu)股(gu)利＝股(gu)利总额÷年末普通股(gu)股(gu)份总数
21. 股(gu)票获利(li)率(lv)＝普通股(gu)每股(gu)股(gu)利(li)÷普通股(gu)每股(gu)市价
22. 市(shi)净率＝每(mei)股(gu)(gu)市(shi)价÷每(mei)股(gu)(gu)净资产
23. 股利(li)支付(fu)率＝（每股股利(li)÷每股净收益）×100%
a) 股利保障(zhang)倍数＝股利支付(fu)率的(de)倒数
24. 留存(cun)盈利比率＝（净利润－全部股利）÷净利润×100%
25. 每(mei)股净(jing)资(zi)产＝年末股东(dong)权(quan)益(yi)（扣除(chu)优(you)先股）÷年末普(pu)通(tong)股数(shu)（也(ye)称每(mei)股账(zhang)面价值或每(mei)股权(quan)益(yi)）
26. 现金到期(qi)(qi)债(zhai)务(wu)比＝经营(ying)现金净流(liu)入(ru)÷本期(qi)(qi)到期(qi)(qi)的债(zhai)务(wu)（指本期(qi)(qi)到期(qi)(qi)的长期(qi)(qi)债(zhai)务(wu)与本期(qi)(qi)应付(fu)票据）
a) 现金流动负债比＝经营现金净流入÷流动负债
b) 现金债(zhai)(zhai)务总额(e)比＝经营现金净流入(ru)÷债(zhai)(zhai)务总额(e)（计算公司最(zui)大(da)的负(fu)债(zhai)(zhai)能(neng)力）
27. 销售(shou)现(xian)(xian)金比率(lv)＝经(jing)营现(xian)(xian)金净流(liu)入÷销售(shou)额
a) 每股营业现金(jin)净流量＝经营现金(jin)净流入(ru)÷普通股数(shu)
b) 全部资(zi)产(chan)(chan)现(xian)金回收率＝经(jing)营现(xian)金净流入(ru)÷全部资(zi)产(chan)(chan)×100%
28. 现金(jin)(jin)满足(zu)投资比＝近(jin)5年(nian)经(jing)营活(huo)动现金(jin)(jin)净流入÷近(jin)5年(nian)资本支出、存(cun)货增加、现金(jin)(jin)股(gu)利之和.
a) 现(xian)金股(gu)利保障(zhang)倍数＝每股(gu)营业现(xian)金净流入÷每股(gu)现(xian)金股(gu)利
29. 净收(shou)益(yi)(yi)(yi)营运指数＝经(jing)营净收(shou)益(yi)(yi)(yi)÷净收(shou)益(yi)(yi)(yi)＝（净收(shou)益(yi)(yi)(yi)－非经(jing)营收(shou)益(yi)(yi)(yi)）÷净收(shou)益(yi)(yi)(yi) a) 现(xian)(xian)金(jin)营运指数＝经(jing)营现(xian)(xian)金(jin)净流量(liang)÷经(jing)营所得现(xian)(xian)金(jin)（经(jing)营所得现(xian)(xian)金(jin)＝经(jing)营活动(dong)净收(shou)益(yi)(yi)(yi)＋非付现(xian)(xian)费(fei)用(yong)）
30. 外部(bu)融资额＝（资产销(xiao)(xiao)(xiao)售(shou)(shou)(shou)百分(fen)比(bi)－负债销(xiao)(xiao)(xiao)售(shou)(shou)(shou)百分(fen)比(bi)）×新增销(xiao)(xiao)(xiao)售(shou)(shou)(shou)额－销(xiao)(xiao)(xiao)售(shou)(shou)(shou)净利率(lv)×计划销(xiao)(xiao)(xiao)售(shou)(shou)(shou)额×（1－股利支付率(lv)）
31. 销售增长率(lv)＝新增额(e)(e)÷基期(qi)额(e)(e)或(huo)＝（计划额(e)(e)÷基期(qi)额(e)(e)）－1
32. 新增销(xiao)售(shou)(shou)额＝销(xiao)售(shou)(shou)增长率×基(ji)期销(xiao)售(shou)(shou)额
33. 外(wai)部融资(zi)销(xiao)(xiao)售增(zeng)长比(bi)＝资(zi)产销(xiao)(xiao)售百(bai)分(fen)比(bi)－负债销(xiao)(xiao)售百(bai)分(fen)比(bi)－销(xiao)(xiao)售净利率(lv)×[（1＋增(zeng)长率(lv)）÷增(zeng)长率(lv)]×（1－股利支付(fu)率(lv)）
34. 可持续增(zeng)长率(lv)＝股(gu)(gu)东(dong)权(quan)益(yi)增(zeng)长率(lv)＝股(gu)(gu)东(dong)权(quan)益(yi)本期(qi)增(zeng)加额(e)÷期(qi)初股(gu)(gu)东(dong)权(quan)益(yi)
＝销售净(jing)(jing)利率(lv)(lv)×总资(zi)产(chan)(chan)周转(zhuan)率(lv)(lv)×收益(yi)留(liu)存率(lv)(lv)×期初权(quan)(quan)益(yi)期末总资(zi)产(chan)(chan)乘数＝权(quan)(quan)益(yi)净(jing)(jing)利率(lv)(lv)×收益(yi)留(liu)存率(lv)(lv)÷（1－权(quan)(quan)益(yi)净(jing)(jing)利率(lv)(lv)×收益(yi)留(liu)存率(lv)(lv)）
35. 复利终值(zhi)(zhi)复利现值(zhi)(zhi)
36. 普通年(nian)金终值：或(huo)
37. 年(nian)偿债基金：或A＝S（A/S，i，n）（36与37系数互(hu)为倒(dao)数）
38. 普通年金现(xian)值：或 P＝A（P/A，i，n）
39. 投资回收(shou)额：或 A＝P（A/P，i，n）（38与(yu)39系数(shu)互为倒(dao)数(shu)）
40. 即付年金(jin)的终(zhong)值：或 S＝A[（S/A，i，n＋1）－1]
41. 即付年金的现值(zhi)：或 P＝A[（P/A，i，n－1）＋1]
42. 递(di)延年(nian)金现值(zhi)：第一种方(fang)法：第二种方(fang)法：
43. 永续年金(jin)现值：
44. 名(ming)义利率与实际(ji)利率的换算：
45. 债券价值(zhi)：分(fen)期(qi)付息，到期(qi)还(hai)本(ben)：PV＝利息年金现(xian)值(zhi)＋本(ben)金复利现(xian)值(zhi)
纯贴现债券(quan)(quan)价值PV＝面值÷（1＋必(bi)要报酬(chou)率）n （面值到期一次(ci)还本付息(xi)(xi)的按本利和支付）平息(xi)(xi)债券(quan)(quan)PV＝I/M×（P/A，i/M，M×N）＋本金（P/S，i/M，M×N）（M为(wei)年付息(xi)(xi)次(ci)数，N为(wei)年数） 永(yong)久(jiu)债券(quan)(quan)
46. 债券到期收益率＝或（V－股票(piao)价值 P－市价 g－增长率 D－股利 R－预期报(bao)酬(chou)率 Rs－必(bi)要报(bao)酬(chou)率t－第几年(nian)股利）
47. 股(gu)票一(yi)般模式(shi)：零成长股(gu)票：固定成长：
48. 总报酬率(lv)(lv)＝股利收益(yi)率(lv)(lv)＋资本利得收益(yi)率(lv)(lv)或
49. 期望值：
50. 方差：标准差：变异系数(shu)＝标准差÷期(qi)望(wang)值
51. 证(zheng)(zheng)券(quan)组合(he)的(de)(de)预(yu)期(qi)报酬率(lv)＝Σ（某(mou)种(zhong)证(zheng)(zheng)券(quan)预(yu)期(qi)报酬率(lv)×该种(zhong)证(zheng)(zheng)券(quan)在全部金(jin)额中的(de)(de)比重(zhong)）即： m－证(zheng)(zheng)券(quan)种(zhong)类 Aj－某(mou)证(zheng)(zheng)券(quan)在投资(zi)总(zong)额中的(de)(de)比例；－j种(zhong)与k种(zhong)证(zheng)(zheng)券(quan)报酬率(lv)的(de)(de)协方差(cha)(cha) －j种(zhong)与k种(zhong)报酬率(lv)之间的(de)(de)预(yu)期(qi)相关(guan)系数 Q－某(mou)种(zhong)证(zheng)(zheng)券(quan)的(de)(de)标(biao)准(zhun)(zhun)差(cha)(cha) 证(zheng)(zheng)券(quan)组合(he)的(de)(de)标(biao)准(zhun)(zhun)差(cha)(cha)：
52. 总期望(wang)报(bao)(bao)酬率＝Q×风(feng)(feng)险(xian)(xian)组合期望(wang)报(bao)(bao)酬率＋（1－Q）×无风(feng)(feng)险(xian)(xian)利率 a) 总标准(zhun)差＝Q×风(feng)(feng)险(xian)(xian)组合的标准(zhun)差
53. 资本资产(chan)定价模型a)①COV为协方差，其(qi)它同上(shang) b)②直线回归法 c) ③直接计算法
54. 证券市场线：个股(gu)要求收益率
55. 贴现(xian)(xian)(xian)(xian)指(zhi)标：净现(xian)(xian)(xian)(xian)值＝现(xian)(xian)(xian)(xian)金(jin)(jin)流(liu)入现(xian)(xian)(xian)(xian)值－现(xian)(xian)(xian)(xian)金(jin)(jin)流(liu)出现(xian)(xian)(xian)(xian)值 a) 现(xian)(xian)(xian)(xian)值指(zhi)数＝现(xian)(xian)(xian)(xian)金(jin)(jin)流(liu)入现(xian)(xian)(xian)(xian)值÷现(xian)(xian)(xian)(xian)金(jin)(jin)流(liu)出现(xian)(xian)(xian)(xian)值 b) 内含报酬(chou)率：每(mei)年(nian)(nian)流(liu)量相等时(shi)用“年(nian)(nian)金(jin)(jin)法”，不等时(shi)用“逐步测试法”
56. 非(fei)贴现(xian)指标：回收(shou)(shou)期不等或(huo)分几年投(tou)入(ru)＝n＋n年未回收(shou)(shou)额/n＋1年现(xian)金流出量 a) 会计收(shou)(shou)益率＝（年均(jun)净收(shou)(shou)益÷原(yuan)始投(tou)资额）×100%
57. 投(tou)资人(ren)要求的收益(yi)率（资本成本）＝债务比重×利(li)率×（1－所得税）＋所有者权益(yi)比重×权益(yi)成本
58. 固定(ding)平(ping)均(jun)年(nian)成本＝（原(yuan)值(zhi)＋运(yun)行成本－残值(zhi)）/使用年(nian)限（不考(kao)虑(lv)时间价值(zhi)）
59.营(ying)业(ye)现(xian)金流量＝营(ying)业(ye)收(shou)入－付现(xian)成(cheng)本(ben)－所(suo)(suo)得税(shui)（根据(ju)定义(yi)）＝税(shui)后净利润＋折旧(jiu)(jiu)（根据(ju)年末营(ying)业(ye)成(cheng)果）＝（收(shou)入－付现(xian)成(cheng)本(ben)）×（1－所(suo)(suo)得税(shui)率）＋折旧(jiu)(jiu)×税(shui)率（根据(ju)所(suo)(suo)得税(shui)对收(shou)入和折旧(jiu)(jiu)的影(ying)响）
60. 调(diao)整现金流量法：（α－肯定(ding)当量）
61. 风险调整折现率法(fa)：
a) 投资者要求的收益率＝无(wu)风险报(bao)酬(chou)率＋β×（市场平均报(bao)酬(chou)率－无(wu)风险报(bao)酬(chou)率）（β—贝他(ta)系数(shu)）
b) 项(xiang)目(mu)要(yao)求的收益(yi)率(lv)＝无风险报酬(chou)率(lv)＋项(xiang)目(mu)的β×（市场(chang)平(ping)均报酬(chou)率(lv)－无风险报酬(chou)率(lv)）
62. 净现值＝实体现金流量/实体加权平均成本－原始(shi)投资净现值＝股东(dong)现金流量/股东(dong)要求的收益率－股东(dong)投资
63. β权(quan)益(yi)＝β资产(chan)×（1＋负债(zhai)/权(quan)益(yi)）β资产(chan)＝β权(quan)益(yi)÷（1＋负债(zhai)/权(quan)益(yi)）.
64. 现金返(fan)回线 H＝3R－2L（上限＝3×现金返(fan)回线－2×下限）
65. 收益增(zeng)(zeng)加(jia)＝销(xiao)量增(zeng)(zeng)加(jia)×单位(wei)边际贡(gong)献
66. 应收账(zhang)款应计利(li)息＝日销售额(e)(e)(e)×平(ping)均(jun)(jun)(jun)(jun)收现期×变动成(cheng)本率×资本成(cheng)本 a) 平(ping)均(jun)(jun)(jun)(jun)余(yu)额(e)(e)(e)＝日销售额(e)(e)(e)×平(ping)均(jun)(jun)(jun)(jun)收现期占(zhan)用资金＝平(ping)均(jun)(jun)(jun)(jun)余(yu)额(e)(e)(e)×变动成(cheng)本率
67. 折(zhe)扣(kou)(kou)成本增(zeng)加＝（新(xin)销售水(shui)(shui)平×新(xin)折(zhe)扣(kou)(kou)率－旧(jiu)销售水(shui)(shui)平×旧(jiu)折(zhe)扣(kou)(kou)率）×享受折(zhe)扣(kou)(kou)的顾(gu)客比例
68. 订(ding)货(huo)成(cheng)本(ben)(ben)＝订(ding)货(huo)固定成(cheng)本(ben)(ben)＋年需(xu)要量/每次进货(huo)量×订(ding)货(huo)变动成(cheng)本(ben)(ben)
a) 取得成(cheng)(cheng)本(ben)＝订货成(cheng)(cheng)本(ben)＋购置(zhi)成(cheng)(cheng)本(ben)储存成(cheng)(cheng)本(ben)＝固(gu)定成(cheng)(cheng)本(ben)＋单位变动成(cheng)(cheng)本(ben)×每次进货量/2
b) 存货(huo)总成本(ben)＝取(qu)得成本(ben)＋储存成本(ben)＋缺货(huo)成本(ben) TC＝TCa＋TCc＋TCs
c) （K－每次订货(huo)(huo)成本D－总需(xu)量 Kc－单位储存成本 N－订货(huo)(huo)次数U－单价(jia) p－日(ri)送货(huo)(huo)量 d－日(ri)耗用量）
69. 经济订货量
a) 总成本 最佳订(ding)货(huo)(huo)(huo)次数 经济(ji)(ji)订(ding)货(huo)(huo)(huo)量占用资金最佳订(ding)货(huo)(huo)(huo)周(zhou)期(qi)陆(lu)续(xu)进货(huo)(huo)(huo)的经济(ji)(ji)订(ding)货(huo)(huo)(huo)量
总成本
b) 经济订(ding)货(huo)(huo)量占用资金＝70、再订(ding)货(huo)(huo)点(dian)（R）＝交(jiao)货(huo)(huo)时间(jian)（L）×平均日需求(qiu)量（d）＋保险(xian)储备（B） R＝L×d＋B（Ku－单位缺货(huo)(huo)成本； S－一(yi)次订(ding)货(huo)(huo)缺货(huo)(huo)量； N－年订(ding)货(huo)(huo)次数； Kc－单位存货(huo)(huo)成本）
c) 保险储备(bei)总成(cheng)(cheng)本(ben)(ben)＝缺货(huo)成(cheng)(cheng)本(ben)(ben)＋保险储备(bei)成(cheng)(cheng)本(ben)(ben)＝单位缺货(huo)成(cheng)(cheng)本(ben)(ben)×缺货(huo)量×年订货(huo)次数(shu)＋保险储备(bei)×单位存货(huo)成(cheng)(cheng)本(ben)(ben)即：TC（S、B）＝Ku × S × N ＋ B × Kc
70. 实际(ji)利(li)率(lv)（短期借(jie)款）＝名义利(li)率(lv)/（1－补偿(chang)性余额比率(lv)）或＝利(li)息/实际(ji)可用(yong)借(jie)款额
71. 可(ke)转换债券(quan)转换比例＝债券(quan)面值÷转换价格
72. 发(fa)放(fang)(fang)股(gu)(gu)票股(gu)(gu)利后的每股(gu)(gu)收(shou)益（市价(jia)）＝发(fa)放(fang)(fang)前每股(gu)(gu)收(shou)益（市价(jia)）÷（1＋股(gu)(gu)票股(gu)(gu)利发(fa)放(fang)(fang)率）
a) 资(zi)本(ben)(ben)成本(ben)(ben)和资(zi)本(ben)(ben)结构 通用模式：资(zi)本(ben)(ben)成本(ben)(ben)＝资(zi)金占用费(fei)/筹(chou)资(zi)金额×（1－筹(chou)集费(fei)率）
73. 银行借款(kuan)成本：
a) （K1－银(yin)行借(jie)款成本；I－年(nian)利(li)息；L－筹资总额；T－所得税税率；R1－借(jie)款利(li)率；F1－筹资费率）
b) 考虑(lv)时间价(jia)值(zhi)的(de)税前成本（K）：（P－本金）税后成本（K1）：（K1）＝K×（1－T）
74. 债券成本：
a) （Kb－债券成本；I－年利息；T－所得税率；Rb–债券利率；B－筹资额(e)（按发行(xing)价格(ge)）；Fb－筹资费率）
b) 考(kao)虑时(shi)间价值的税(shui)(shui)前(qian)成本（K）：（P－面值）税(shui)(shui)后成本（Kb）（Kb）＝K×（1－T）
75. 留存收益成(cheng)本(ben)：
a) 股利增长模型： b) 资(zi)本(ben)资(zi)产定(ding)价模型： c) 风(feng)险溢(yi)价法：（Kb－债务(wu)成本(ben)；RPc －风(feng)险溢(yi)价）
76. 普通(tong)股(gu)成本：（式中：D1—第1年(nian)(nian)股(gu)利；P0—市价(jia)；g—年(nian)(nian)增长(zhang)率(lv)）
a) 优先股成(cheng)本＝年股息率(lv)/（1－筹资费率(lv)）
77. 筹资(zi)(zi)(zi)突破点＝可(ke)用某一特(te)定(ding)成本(ben)(ben)筹集到的(de)资(zi)(zi)(zi)金额÷该(gai)种(zhong)资(zi)(zi)(zi)金在资(zi)(zi)(zi)本(ben)(ben)结构中所占的(de)比(bi)重
78. 加权平(ping)均资(zi)金(jin)成(cheng)本：（Kw为(wei)加权平(ping)均资(zi)金(jin)成(cheng)本；Wj为(wei)第j种资(zi)金(jin)占总资(zi)金(jin)的(de)比重；Kj为(wei)第j种资(zi)金(jin)的(de)成(cheng)本 ）
79. 筹资(zi)突破点＝可(ke)用某一特(te)定成(cheng)本筹集到的某种资(zi)金额/该种资(zi)金所(suo)占比重
80. （p－单(dan)价 V－单(dan)位变(bian)动成本 F－总(zong)(zong)固(gu)定成本 S－销售(shou)额 VC－总(zong)(zong)变(bian)动成本 Q－销售(shou)量N－普通股数）经营杠(gang)杆：公式(shi)一：公式(shi)二：财务杠(gang)杆：或（D—优先股息；T—所得税率）
总杠(gang)杆(gan)：DTL＝DOL×DFL
81. （EPS－每(mei)股(gu)收(shou)(shou)益(yi)； SF－偿(chang)债(zhai)基金；D－优先(xian)股(gu)息(xi)；VEPS－每(mei)股(gu)自由收(shou)(shou)益(yi)）
a) 每股收(shou)益无差(cha)别点：或：每股自由(you)收(shou)益无差(cha)别点：
b) 当EBIT大于无差(cha)别点时，负债筹(chou)资(zi)有利；当EBIT小于无差(cha)别点时，普通股(gu)筹(chou)资(zi)有利。
82. 市场总价值(zhi)(zhi)（V）＝股票(piao)价值(zhi)(zhi)（S）＋债(zhai)券价值(zhi)(zhi)（B）假设 B＝债(zhai)券面值(zhi)(zhi)，则：
a) S＝（EBIT－I）（1－T）/Ks Ks—权益资(zi)本成本（按资(zi)本资(zi)产模型计算(suan)） Kb—税前债务成本
b) 加权平均(jun)资(zi)(zi)本(ben)成本(ben) 或(huo)＝Σ（个别资(zi)(zi)本(ben)成本(ben)×个别资(zi)(zi)本(ben)占全部资(zi)(zi)本(ben)的比重）
83. 目(mu)标企业价值(zhi)＝估价收益指(zhi)标×标准市(shi)盈率（市(shi)盈率模型(xing)法）
a) 资(zi)本(ben)收益率＝息税前(qian)利润/（长期(qi)负债＋股东权益）
b) 每(mei)股(gu)(gu)股(gu)(gu)票内(nei)在价值＝每(mei)股(gu)(gu)股(gu)(gu)利现(xian)值＋股(gu)(gu)票出售预期价格现(xian)值（股(gu)(gu)息收(shou)益贴现(xian)模式(shi)）
84. 经营(ying)(ying)性现金流量＝营(ying)(ying)业收(shou)入－营(ying)(ying)业成本费用（付(fu)现性质）－所得税(shui)＝息(xi)税(shui)前利润＋折(zhe)旧－所得税(shui)
a) 企业自(zi)由现(xian)金(jin)(jin)流量＝息税前利润＋折旧－所得(de)税－资本(ben)性支出－营运(yun)(yun)资本(ben)净(jing)增加 b) 自(zi)由现(xian)金(jin)(jin)流量（CFt）＝税后利润－新增销售额(e)×（固定资本(ben)增长率＋营运(yun)(yun)资本(ben)增长率）
85. （V－目标(biao)企业终值；WACC－加(jia)权平均资本(ben)成本(ben)（目标(biao)企业贴现(xian)(xian)率）；FCFt－目标(biao)企业自由现(xian)(xian)金(jin)流量）
a) 零增长模型：稳(wen)定增长模型：是(shi)指（K＋1）年的自由现金流量
86. q比率(lv)法：q＝股票市值(zhi)/对应(ying)的资产重(zhong)置(zhi)成(cheng)本股票价值(zhi)＝q×资产重(zhong)置(zhi)成(cheng)本（q—市净(jing)率(lv)）
87. 并购价(jia)值(zhi)＝目(mu)标公(gong)司净(jing)资产账面(mian)价(jia)值(zhi)×（1＋调(diao)整系(xi)数）×拟(ni)收购的股份比例或＝目(mu)标每(mei)股净(jing)资产×（1＋调(diao)整系(xi)数）×拟(ni)收购的股份数量
88. 并(bing)(bing)购(gou)(gou)企(qi)业(ye)(ye)(ye)每(mei)股(gu)收(shou)(shou)益(yi)(yi)（市价）＝并(bing)(bing)购(gou)(gou)后每(mei)股(gu)收(shou)(shou)益(yi)(yi)（市价）×股(gu)票(piao)：）率并(bing)(bing)购(gou)(gou)后每(mei)股(gu)收(shou)(shou)益(yi)(yi)＝并(bing)(bing)购(gou)(gou)后净收(shou)(shou)益(yi)(yi)/并(bing)(bing)购(gou)(gou)后股(gu)本总数＝并(bing)(bing)购(gou)(gou)后净收(shou)(shou)益(yi)(yi)/（并(bing)(bing)购(gou)(gou)企(qi)业(ye)(ye)(ye)股(gu)数＋目标企(qi)业(ye)(ye)(ye)股(gu)数×股(gu)票(piao)：）率）
89. 并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)收(shou)益＝并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)后公(gong)司(si)价(jia)值－并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)前各公(gong)司(si)价(jia)值之和 S＝Vab－（Va＋Vb）并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)完(wan)成成本＝并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)价(jia)＋并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)费用＝Pb＋F 并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)溢(yi)(yi)价(jia)＝并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)价(jia)－目标公(gong)司(si)价(jia)值 P＝Pb－Vb并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)净收(shou)益＝并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)收(shou)益－并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)溢(yi)(yi)价(jia)－并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)费用 NS＝S－P－F 或 NS＝并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)后公(gong)司(si)价(jia)值－并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)公(gong)司(si)价(jia)值－并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)价(jia)－并(bing)(bing)(bing)(bing)(bing)购(gou)(gou)(gou)(gou)(gou)费用 NS＝Vab－Va－ P－F 目标企业的(de)(de)价(jia)值＝估价(jia)收(shou)益指标×标准市盈率（收(shou)益法的(de)(de)市盈率模型）
90. 资(zi)(zi)(zi)(zi)金安(an)全率(lv)(lv)＝资(zi)(zi)(zi)(zi)产(chan)(chan)变(bian)现率(lv)(lv)－资(zi)(zi)(zi)(zi)产(chan)(chan)负(fu)债(zhai)率(lv)(lv)＝（资(zi)(zi)(zi)(zi)产(chan)(chan)变(bian)现值－负(fu)债(zhai)额(e)(e)(e)）/资(zi)(zi)(zi)(zi)产(chan)(chan)账(zhang)面总(zong)(zong)额(e)(e)(e)经营安(an)全率(lv)(lv)＝安(an)全边际率(lv)(lv)＝（现有(you)或预计销售(shou)额(e)(e)(e)－保(bao)本(ben)额(e)(e)(e)）/现有(you)或预计销售(shou)额(e)(e)(e) 判(pan)别函数值X1－（营运(yun)资(zi)(zi)(zi)(zi)金/资(zi)(zi)(zi)(zi)产(chan)(chan)总(zong)(zong)额(e)(e)(e)）×100；X2－（留存收(shou)益/资(zi)(zi)(zi)(zi)产(chan)(chan)总(zong)(zong)额(e)(e)(e)）×100；X3－（息税前(qian)利润。资(zi)(zi)(zi)(zi)产(chan)(chan)总(zong)(zong)额(e)(e)(e)）×100；X4－（普通股和(he)优先股市场(chang)价(jia)值总(zong)(zong)额(e)(e)(e)/负(fu)债(zhai)账(zhang)面价(jia)值总(zong)(zong)额(e)(e)(e)）×100；X5－销售(shou)收(shou)入/资(zi)(zi)(zi)(zi)产(chan)(chan)总(zong)(zong)额(e)(e)(e)
91. 成本计算通用公式：间接费用分(fen)配率=待(dai)分(fen)配的间接费用÷分(fen)配标(biao)准合计
92. 某(mou)产(chan)品应分配(pei)的(de)间(jian)接费用(yong)(yong)=间(jian)接费用(yong)(yong)分配(pei)率×某(mou)产(chan)品的(de)分配(pei)标准(zhun)
93. 材(cai)料(liao)分配(pei)率＝材(cai)料(liao)实际(ji)总消耗量（或实际(ji)成本(ben)）÷各种(zhong)产品(pin)材(cai)料(liao)定额销(xiao)量（或定额成本(ben)）之和
94. 人(ren)工(gong)(gong)分配率(lv)＝生(sheng)产(chan)工(gong)(gong)人(ren)工(gong)(gong)资(zi)总额÷各产(chan)品实(shi)用(yong)工(gong)(gong)时之和
95. 制(zhi)造费用分配率(lv)＝制(zhi)造费用总额÷各产品实用（定额、机器(qi)）工时之和
96. 辅助(zhu)生产(chan)单位成本＝辅助(zhu)费用(yong)总额÷对外提(ti)供的产(chan)品或劳务总量
97. 各受益车(che)间(jian)、产品(pin)、部门应分配(pei)的(de)费(fei)用＝辅助生产的(de)单位(wei)成本×耗用量(liang)
98. 约当产量法
a) 在产(chan)(chan)(chan)(chan)品约当产(chan)(chan)(chan)(chan)量(liang)(liang)＝在产(chan)(chan)(chan)(chan)品数(shu)量(liang)(liang)×完(wan)工程(cheng)度 产(chan)(chan)(chan)(chan)成品成本(ben)＝单位成本(ben)×产(chan)(chan)(chan)(chan)成品产(chan)(chan)(chan)(chan)量(liang)(liang) b) 单位成本(ben)＝（月(yue)初(chu)在产(chan)(chan)(chan)(chan)品成本(ben)＋本(ben)月(yue)生(sheng)产(chan)(chan)(chan)(chan)费用）÷（产(chan)(chan)(chan)(chan)成品产(chan)(chan)(chan)(chan)量(liang)(liang)＋月(yue)末在产(chan)(chan)(chan)(chan)品约当产(chan)(chan)(chan)(chan)量(liang)(liang)）
c) 月末在产品成本(ben)＝单位成本(ben)×在产品约当(dang)产量
99. 按(an)定额成(cheng)本(ben)计算(suan)
a) 月末在(zai)(zai)产品(pin)成(cheng)本(ben)＝在(zai)(zai)产品(pin)数量(liang)×在(zai)(zai)产品(pin)定额单(dan)位成(cheng)本(ben)
b) 产(chan)(chan)成(cheng)品(pin)总成(cheng)本(ben)(ben)＝（月初在(zai)产(chan)(chan)品(pin)成(cheng)本(ben)(ben)＋本(ben)(ben)月费用）－月末在(zai)产(chan)(chan)品(pin)成(cheng)本(ben)(ben) c) 产(chan)(chan)成(cheng)品(pin)单位成(cheng)本(ben)(ben)＝产(chan)(chan)成(cheng)品(pin)总成(cheng)本(ben)(ben)÷产(chan)(chan)成(cheng)品(pin)产(chan)(chan)量
100. 定额比例法
a) 在产(chan)品(pin)应分(fen)配(pei)的材料(liao)（工资）成本(ben)＝在产(chan)品(pin)定额材料(liao)（工资）成本(ben)×材料(liao)（工资）分(fen)配(pei)率(lv)
b) 完工产品应分(fen)(fen)配的(de)材料（工资）成本＝完工产品定额材料（工资）成本×材料（工资）分(fen)(fen)配率
101. 成(cheng)本(ben)(ben)—数(shu)量(liang)—利润分析基本(ben)(ben)方程式利润＝单(dan)价(jia)×销(xiao)(xiao)量(liang)－单(dan)位变动成(cheng)本(ben)(ben)×销(xiao)(xiao)量(liang)－固(gu)定成(cheng)本(ben)(ben)或(huo)＝边(bian)(bian)际(ji)(ji)贡献(xian)－固(gu)定成(cheng)本(ben)(ben)＝销(xiao)(xiao)售收入(ru)×边(bian)(bian)际(ji)(ji)贡献(xian)率(lv)－固(gu)定成(cheng)本(ben)(ben)＝安全边(bian)(bian)际(ji)(ji)×边(bian)(bian)际(ji)(ji)贡献(xian)率(lv)
102. 边(bian)际贡献方(fang)程式：
利(li)润(run)=销(xiao)(xiao)量×单(dan)(dan)(dan)(dan)位(wei)(wei)边(bian)(bian)际(ji)(ji)贡(gong)(gong)献－固(gu)定成(cheng)本 利(li)润(run)=销(xiao)(xiao)售(shou)收(shou)入×边(bian)(bian)际(ji)(ji)贡(gong)(gong)献率(lv)(lv)－固(gu)定成(cheng)本边(bian)(bian)际(ji)(ji)贡(gong)(gong)献＝销(xiao)(xiao)售(shou)收(shou)入－变(bian)(bian)(bian)动(dong)成(cheng)本＝单(dan)(dan)(dan)(dan)位(wei)(wei)边(bian)(bian)际(ji)(ji)贡(gong)(gong)献×销(xiao)(xiao)量 单(dan)(dan)(dan)(dan)位(wei)(wei)边(bian)(bian)际(ji)(ji)贡(gong)(gong)献＝单(dan)(dan)(dan)(dan)价－单(dan)(dan)(dan)(dan)位(wei)(wei)变(bian)(bian)(bian)动(dong)成(cheng)本 变(bian)(bian)(bian)动(dong)成(cheng)本率(lv)(lv)＋边(bian)(bian)际(ji)(ji)贡(gong)(gong)献率(lv)(lv)＝1 盈亏点(dian)作(zuo)业率(lv)(lv)＋安全边(bian)(bian)际(ji)(ji)率(lv)(lv)＝1 资(zi)(zi)金安全率(lv)(lv)＋资(zi)(zi)产负债(zhai)率(lv)(lv)＝资(zi)(zi)产变(bian)(bian)(bian)现(xian)率(lv)(lv)
103. 加(jia)权平均边际贡(gong)献率(lv)＝各(ge)(ge)产品(pin)(pin)边际贡(gong)献之(zhi)和(he)/各(ge)(ge)产品(pin)(pin)销(xiao)售收入之(zhi)和(he)×100%或＝Σ（各(ge)(ge)产品(pin)(pin)边际贡(gong)献率(lv)×各(ge)(ge)产品(pin)(pin)占总(zong)销(xiao)售额(e)的比重）
104. 盈(ying)亏(kui)点临界(jie)点作业率＝盈(ying)亏(kui)临界(jie)点销售量÷正(zheng)常销售量（或销售额）
105. 安全边(bian)(bian)际(ji)(ji)(ji)＝正(zheng)常(chang)销售额(e)(e)－盈亏临界点销售额(e)(e)安全边(bian)(bian)际(ji)(ji)(ji)率(lv)＝安全边(bian)(bian)际(ji)(ji)(ji)÷正(zheng)常(chang)销售额(e)(e)（或实(shi)际(ji)(ji)(ji)订货(huo)额(e)(e)）×100%销售利(li)润(run)率(lv)＝安全边(bian)(bian)际(ji)(ji)(ji)率(lv)×边(bian)(bian)际(ji)(ji)(ji)贡献(xian)率(lv)（利(li)润(run)＝安全边(bian)(bian)际(ji)(ji)(ji)×边(bian)(bian)际(ji)(ji)(ji)贡献(xian)率(lv)）
106. 敏(min)(min)感系(xi)(xi)数(shu)＝目标(biao)值(zhi)（利润）变(bian)动(dong)百(bai)分(fen)(fen)(fen)比(bi)÷参量(liang)值(zhi)变(bian)动(dong)百(bai)分(fen)(fen)(fen)比(bi)销(xiao)量(liang)敏(min)(min)感系(xi)(xi)数(shu)＝利润变(bian)动(dong)百(bai)分(fen)(fen)(fen)比(bi)÷销(xiao)量(liang)变(bian)动(dong)百(bai)分(fen)(fen)(fen)比(bi)销(xiao)量(liang)敏(min)(min)感系(xi)(xi)数(shu)，也(ye)就(jiu)是营(ying)业杠杆(gan)系(xi)(xi)数(shu)）
107. 变(bian)动成本(ben)差(cha)异分(fen)析(xi)的通用(yong)模式(shi)差(cha)异＝价(jia)(jia)差(cha)＋量差(cha) 价(jia)(jia)差(cha)＝实际用(yong)量×（实际价(jia)(jia)格－标准(zhun)(zhun)价(jia)(jia)格） 量差(cha)＝（实际用(yong)量－标准(zhun)(zhun)用(yong)量）×标准(zhun)(zhun)价(jia)(jia)格
108. 直接(jie)材(cai)料(liao)成本差异(yi)＝材(cai)料(liao)价(jia)格差异(yi)＋材(cai)料(liao)数(shu)(shu)量差异(yi)材(cai)料(liao)价(jia)格差异(yi)＝实际(ji)(ji)数(shu)(shu)量×（实际(ji)(ji)价(jia)格－标(biao)准(zhun)价(jia)格） 材(cai)料(liao)数(shu)(shu)量差异(yi)＝（实际(ji)(ji)数(shu)(shu)量－标(biao)准(zhun)数(shu)(shu)量）×标(biao)准(zhun)价(jia)格
109. 直(zhi)接人工(gong)成本差异(yi)＝工(gong)资(zi)率差异(yi)＋人工(gong)效率差异(yi)人工(gong)资(zi)率差异(yi)＝实(shi)(shi)际(ji)工(gong)时×（实(shi)(shi)际(ji)工(gong)资(zi)率－标(biao)(biao)准工(gong)资(zi)率） 人工(gong)效率差异(yi)＝（实(shi)(shi)际(ji)工(gong)时－标(biao)(biao)准工(gong)时）×标(biao)(biao)准工(gong)资(zi)率
110. 变(bian)(bian)(bian)动(dong)(dong)(dong)制(zhi)(zhi)(zhi)造(zao)(zao)费(fei)(fei)(fei)用(yong)(yong)差(cha)(cha)(cha)异＝变(bian)(bian)(bian)动(dong)(dong)(dong)制(zhi)(zhi)(zhi)造(zao)(zao)费(fei)(fei)(fei)用(yong)(yong)耗费(fei)(fei)(fei)差(cha)(cha)(cha)异＋变(bian)(bian)(bian)动(dong)(dong)(dong)制(zhi)(zhi)(zhi)造(zao)(zao)费(fei)(fei)(fei)用(yong)(yong)效率(lv)(lv)差(cha)(cha)(cha)异变(bian)(bian)(bian)动(dong)(dong)(dong)制(zhi)(zhi)(zhi)造(zao)(zao)费(fei)(fei)(fei)用(yong)(yong)耗费(fei)(fei)(fei)差(cha)(cha)(cha)异＝实(shi)际(ji)(ji)工(gong)(gong)时(shi)(shi)×（实(shi)际(ji)(ji)分(fen)配率(lv)(lv)－标(biao)(biao)准(zhun)(zhun)(zhun)(zhun)分(fen)配率(lv)(lv)） 变(bian)(bian)(bian)动(dong)(dong)(dong)制(zhi)(zhi)(zhi)造(zao)(zao)费(fei)(fei)(fei)用(yong)(yong)效率(lv)(lv)差(cha)(cha)(cha)异＝（实(shi)际(ji)(ji)工(gong)(gong)时(shi)(shi)－标(biao)(biao)准(zhun)(zhun)(zhun)(zhun)工(gong)(gong)时(shi)(shi)）×标(biao)(biao)准(zhun)(zhun)(zhun)(zhun)分(fen)配率(lv)(lv) 制(zhi)(zhi)(zhi)造(zao)(zao)费(fei)(fei)(fei)用(yong)(yong)标(biao)(biao)准(zhun)(zhun)(zhun)(zhun)分(fen)配率(lv)(lv)＝制(zhi)(zhi)(zhi)造(zao)(zao)费(fei)(fei)(fei)用(yong)(yong)预算总(zong)额(e)/直接(jie)人工(gong)(gong)标(biao)(biao)准(zhun)(zhun)(zhun)(zhun)总(zong)工(gong)(gong)时(shi)(shi) 费(fei)(fei)(fei)用(yong)(yong)标(biao)(biao)准(zhun)(zhun)(zhun)(zhun)成本＝直接(jie)人工(gong)(gong)标(biao)(biao)准(zhun)(zhun)(zhun)(zhun)工(gong)(gong)时(shi)(shi)×标(biao)(biao)准(zhun)(zhun)(zhun)(zhun)分(fen)配率(lv)(lv)
111. 固(gu)定(ding)制(zhi)造(zao)费用成本
a) 固定制造费(fei)用标(biao)准(zhun)分配率＝预算数÷产能标(biao)准(zhun)工时(shi) b) 二因素分析法(fa)：
固(gu)定(ding)制造费(fei)用耗(hao)费(fei)差异＝固(gu)定(ding)制造费(fei)用实(shi)际数－固(gu)定(ding)制造费(fei)用预算数 固(gu)定(ding)制造费(fei)用能(neng)(neng)量差异＝预算数－标准成本＝（生(sheng)产能(neng)(neng)量－实(shi)际产量标准工时）×标准分(fen)配率(lv) c) 三因素(su)分(fen)析法：
固(gu)定(ding)(ding)制(zhi)(zhi)造(zao)(zao)费(fei)(fei)用(yong)(yong)耗费(fei)(fei)差(cha)异＝固(gu)定(ding)(ding)制(zhi)(zhi)造(zao)(zao)费(fei)(fei)用(yong)(yong)实际(ji)数－固(gu)定(ding)(ding)制(zhi)(zhi)造(zao)(zao)费(fei)(fei)用(yong)(yong)预(yu)算数 ＝固(gu)定(ding)(ding)制(zhi)(zhi)造(zao)(zao)费(fei)(fei)用(yong)(yong)实际(ji)数－固(gu)定(ding)(ding)制(zhi)(zhi)造(zao)(zao)费(fei)(fei)用(yong)(yong)标(biao)(biao)准分配(pei)率(lv)×生(sheng)产(chan)能(neng)量(liang)固(gu)定(ding)(ding)制(zhi)(zhi)造(zao)(zao)费(fei)(fei)用(yong)(yong)闲置能(neng)量(liang)差(cha)异＝固(gu)定(ding)(ding)制(zhi)(zhi)造(zao)(zao)费(fei)(fei)用(yong)(yong)预(yu)算－实际(ji)工(gong)时(shi)×固(gu)定(ding)(ding)制(zhi)(zhi)造(zao)(zao)费(fei)(fei)用(yong)(yong)标(biao)(biao)准分配(pei)率(lv)＝（产(chan)能(neng)标(biao)(biao)准工(gong)时(shi)－实际(ji)工(gong)时(shi)）×标(biao)(biao)准分配(pei)率(lv)固(gu)定(ding)(ding)制(zhi)(zhi)造(zao)(zao)费(fei)(fei)用(yong)(yong)效率(lv)差(cha)异＝（实际(ji)工(gong)时(shi)－实际(ji)产(chan)量(liang)标(biao)(biao)准工(gong)时(shi)）×标(biao)(biao)准分配(pei)率(lv)
112. 边际(ji)贡(gong)(gong)献(xian)(xian)＝销售收入(ru)－变动成本(ben)(ben)总额 可(ke)控(kong)(kong)边际(ji)贡(gong)(gong)献(xian)(xian)＝边际(ji)贡(gong)(gong)献(xian)(xian)－可(ke)控(kong)(kong)固定成本(ben)(ben)部(bu)门边际(ji)贡(gong)(gong)献(xian)(xian)＝收入(ru)－变动成本(ben)(ben)－可(ke)控(kong)(kong)固定成本(ben)(ben)－不可(ke)控(kong)(kong)固定成本(ben)(ben) 部(bu)门税前利润＝部(bu)门边际(ji)贡(gong)(gong)献(xian)(xian)－管理费用
113. 投资(zi)(zi)报酬率(lv)(lv)＝部门边际(ji)贡(gong)(gong)献÷该部门所拥有的资(zi)(zi)产(chan)(chan)额剩余收益＝部门边际(ji)贡(gong)(gong)献－部门资(zi)(zi)产(chan)(chan)×资(zi)(zi)金(jin)成本率(lv)(lv)＝部门资(zi)(zi)产(chan)(chan)×（投资(zi)(zi)报酬率(lv)(lv)－资(zi)(zi)金(jin)成本率(lv)(lv)）
114. 营(ying)业现(xian)(xian)金(jin)(jin)流量(liang)＝年(nian)现(xian)(xian)金(jin)(jin)收(shou)入(ru)－支出现(xian)(xian)金(jin)(jin)回收(shou)率(lv)＝营(ying)业现(xian)(xian)金(jin)(jin)流量(liang)÷平(ping)均总资(zi)(zi)产 剩(sheng)余现(xian)(xian)金(jin)(jin)流量(liang)＝经营(ying)现(xian)(xian)金(jin)(jin)流入(ru)－部门资(zi)(zi)产×资(zi)(zi)金(jin)(jin)成本率(lv)
