By Heiko Staroßom
Dieses Buch ist in mehreren Jahren Lehrtätigkeit an der Universität Bremen entstanden. Insofern folgt es dem Ehrgeiz, als Grundlage für eine anspruchsvolle Lehrveranstaltung zu dienen und darüber hinaus kann es jedem Praktiker Nutzen stiften. Es richtet sich deshalb auch an Steuerberater, Wirtschaftsprüfer, Anwälte sowie Mitarbeiter im Finanzmanagement auf der Seite der Unternehmen oder in der Firmenkundenbetreuung auf der Seite der Banken. Der Aufbau dieses Buches löst sich von dem traditioneller Werke; es orientiert sich an den Lebensphasen eines Unternehmens. Eine Fülle von Abbildungen, Tabellen und Beispielen unterstützt die leichte Lesbarkeit. Weiterführende Literaturangaben am Ende eines Kapitels sollen zum vertiefenden Studium anregen. Die einzelnen Kapitel folgen einer aufbauenden Logik, können aber trotzdem weitgehend isoliert von vorangehenden oder folgenden Kapiteln genutzt werden. Teil 2 untersucht die unterschiedlichen Ausgestaltungen von Instrumenten der betrieblichen Finanzierung jeweils in der Früh-, der Expansions-, der Reife- und der Abstiegsphase.
Read or Download Corporate Finance Teil 2: Finanzierung in den Lebensphasen einer Unternehmung PDF
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Extra resources for Corporate Finance Teil 2: Finanzierung in den Lebensphasen einer Unternehmung
Example text
Es können aber auch negative Folgen damit verbunden sein, wenn das Geschäft schneller wächst als geplant. Sei es, dass die nötigen Kapazitäten dann nicht in der entsprechenden Quantität und Qualität vorhanden sind, um am Marktwachstum teilzuhaben, oder die für das Wachstum erforderliche Finanzierung nicht rechtzeitig gesichert werden kann. Wie kann im Planungsprozess ausreichend sichergestellt werden, dass der Businessplan auf möglichst realistischen Annahmen basiert? Neben den Plausibilitätschecks auf den verschiedenen Ebenen eines Unternehmens scheint eine offene Kommunikation und Vertrauenskultur eine wesentliche Voraussetzung zu sein.
Zum Abschluss des Geschäftsjahrs wird das GuV-Ergebnis in die Bilanzposition „Eigenkapital“ gebucht. Je nach Gewinn/Verlust vermehrt/vermindert sich somit das Reinvermögen des Unternehmens. Sachanlagen werden gemäß ihrer Anschaffungs- oder Herstellungskosten bewertet. Dieser Wert vermindert sich jährlich um die jeweiligen Abschreibungen. Vorräte werden zu Herstellungskosten bewertet. Forderungen und Barmittel werden zu ihrem jeweiligen Geldbetrag erfasst. Die Verbindlichkeiten werden zu ihrem Nominalwert bewertet.
Bei transportkostenintensiven Produkten nimmt zum Beispiel die Marktmacht der Konkurrenz mit zunehmender regionaler Entfernung vom eigenen Markt ab. Wichtig ist auch das Thema Wettbewerbsintensität. Steht ein Unternehmen beispielsweise im Preiswettbewerb, so ist die Frage nach Preissetzungsspielräumen von Bedeutung. Für Unternehmen, die in einem Qualitäts- und Innovationswettbewerb stehen, stellt sich dagegen eher die Frage nach ausreichenden Ressourcen an Forschungs- und Entwicklungsmitteln. Die zentrale Aufgabe der Kommunikation im Marketing besteht darin, ein unverwechselbares Angebot zu formulieren und im Gedächtnis der Kunden zu verankern.