Goal level, criterion level, plan level

Pairwise comparison scale

n*n matrix, diagonally downward diagonally reciprocal to each other

Calculation of judgment matrix eigenvectors: ① Sum method: column normalization → row sum → column normalization; ② Root method: column normalization → row root → column normalization

Judgment Matrix Consistency Test

Overall ordering of levels

Overall sorting consistency check

WO strategy: turnaround strategy

It refers to the political system, administrative system, laws and regulations, etc. of a country or region. Specific indicators include political system, economic system, fiscal policy, tax policy, industrial policy, investment policy, government subsidy level, public participation in politics, etc.

The macroeconomic environment mainly refers to a country's population and its growth trend, national income, gross national product and their changes, as well as the level and speed of national economic development reflected by these indicators.

The microeconomic environment mainly refers to factors such as the income level, consumption preferences, savings, and employment level of consumers in the area where the enterprise is located or the area it serves. These factors directly determine the current and future market size of the company.

The social environment includes the education and cultural level of residents of a country or region, religious beliefs, customs, aesthetic views, values, etc.

natural environment

The technological environment has a direct and significant impact on the survival and development of enterprises. Continuous technological progress improves production efficiency, reduces production costs, and greatly affects the pattern of market competition.

By attributes, by different sources, by different media and forms, by original information and processing, by different purposes, by dynamic information and static information, by explicit information and invisible information

Internet and publications, borrowing and purchasing, own information

Documentary investigation method (the simplest, most general and commonly used method), field investigation method (flexible in application, sufficient information, but time-consuming, expensive and not objective enough), Questionnaire survey method (wide range, simple and easy to implement, low cost, widely used), experimental survey method (complex, high cost, limited application scope, high credibility).

Keyword indexing, narrowing the scope (search by type, limited by logical conditions)

Information classification and cataloging

Establish database management system

Information security management

Data statistical analysis

Time data analysis methods

Database and data warehouse mining

web mining

① Processing workload (the difference between more and less); ② Constraint conditions (data mining does not make assumptions and automatically establishes equations); ③ Processing objects (there are many types of data mining objects); ④ Processing results (data mining results are not easy to interpret, focus on to predict the future and make decision-making recommendations)

Principle of accumulation, principle of sharing, principle of exchange

①Human resources: training costs, employee centripetal force and experience;

②Innovation results: R&D expenses, employee innovation attitude and ratio, consulting business updates, intellectual property rights;

③Customer attitude: service quality, cooperation time, number of consultations, sales, etc.

①Cognition: Business managers propose knowledge management strategies

②Planning: Based on cognition, formulate detailed implementation plan

③ Pilot: Select appropriate departments and businesses to pilot knowledge management

④ Put into use: After piloting and improvement, comprehensive promotion

⑤Establishing a new system: the process of self-improvement

Centers can be divided into different levels according to their size and functions.

polarization effect

diffusion effect

The core area has a high capacity for innovation and change and occupies a dominant position in the spatial system.

The creation and application of emerging industries, new products, new processes, new technologies and new management methods included in economic innovation activities first originated in high-gradient areas; and then gradually moved to low-gradient areas over time.

Population density is an important indicator to measure the degree of population agglomeration, usually using person/square kilometer or person/hectare as the unit.

Two-city index calculation method: S2=P1/P2

Four-city index: S4=P1/(P2+P3+P4)

Eleven city index: S11＝2P1/（P2＋P3＋…＋P11）

Also known as the specialization rate, it is used to measure the spatial distribution of factors in a certain region, reflecting the degree of specialization of a certain industrial sector, as well as the status and role of a certain region in the country.

evaluation standard

Advantage

limitation

factors of production

Requirements

Related and supporting industries

Business status

Chenery Standard Model

The World Bank’s classification of development stages

Industrial structure

employment structure

Petty-Clarke Theorem and Kuznets Rule

Industrial structure optimization

The main factors affecting the optimization of industrial structure include economy, population, environment, system, etc. The level of economic development is the most basic factor that determines the industrial structure, including the level of productivity development, social division of labor and specialization, and the scale of the total economic volume. and degree of growth, etc.

Active urbanization: urbanization in sync with economic development

Negative urbanization: urbanization out of sync with economic development

The social structure of the traditional social stage was developed with limited production functions, using pre-Newtonian technologies and ways of viewing the material world, and the economy was relatively closed or isolated.

Economic system reform creates conditions for development, and its leading industries are usually the primary industry or labor-intensive manufacturing.

First, the productive investment rate has increased, accounting for more than 10% of national income; second, one or several leading sectors with high growth rates have appeared in the economy to drive the development of other sectors; third, through institutional reforms, a system that can promote economic structure of economic growth

Refers to a period when a society has effectively applied the modern technology at that time to most industries. The main feature of this stage is that the ability to absorb and use new technologies has been significantly improved.

The increase in per capita income during this stage has led to the growth of durable consumer goods, and sectors related to durable consumer goods have become the leading sectors of the economy.

The leading sector of the economy at this stage is the service industry that provides labor services and improves the quality of life.

① Establish a forecasting working group; ② Select experts (about 20 people); ③ Design questionnaires; ④ Organize and implement the survey; ⑤ Summarize and process the survey results.

Anonymity, feedback, convergence, extensiveness

① Facilitate independent thinking and judgment. ②Achieve brainstorming at low cost. ③It is conducive to exploratory problem solving. ④Wide range of applications

① Lack of communication of ideas. ②It is easy to ignore the opinions of minority people. ③There is subjective influence from the organizer

① Lack of sufficient information. ②Long-term planning or big trend prediction. ③There are too many factors that affect predicted events. ④Subjective factors have a greater impact on predicted events.

① Determine key issues ② Identify influencing factors; ③ Scenario construction; ④ Scenario analysis; ⑤ Scenario evaluation; ⑥ Determine development strategy.

Resource demand, energy consumption, pollutant emissions

Resource support factors such as land resources, water resources, and mineral resource carrying capacity, or environmental constraints such as air and water

Regional carrying capacity, ecological carrying capacity, etc.

①Basic evaluation of resource and environmental factors; ②Comprehensive evaluation of regional resource and environmental carrying capacity; ③Formulation of differentiated resource and environmental policies; ④Proposed appropriate direction and final planning plan for spatial development.

It is an intuitive qualitative prediction method that assumes that a certain phenomenon or trend will continue into the future. It is mainly used for qualitative prediction of resource and environmental carrying capacity, and is often used in dynamic analysis in quantitative methods (such as system dynamics). In conjunction with

ecological footprint method

Factor Analysis

Emergy analysis

analytic hierarchy process

complex network method

System Dynamics

genetic algorithm

time series method

Ecological footprint (EF): population * Σ (per capita area of ​​various biologically productive land * various equilibrium factors)

Ecological carrying capacity (EC): (1-12% biological protection) * population * Σ (per capita various biologically productive land areas * various yield factors * various equilibrium factors)

Ecological surplus: ED=EC-EF>0, it is in an ecologically sustainable state.

Ecological deficit: ED=EC-EF<0 It shows that the human load in this area has exceeded its ecological capacity and is facing an unsustainable development situation. From the perspective of resource and environmental carrying capacity, human activities in this area are too intensive, which has exerted tremendous pressure on the resources and environment. This region needs to significantly improve resource and energy efficiency under current economic and technical conditions and in accordance with the spatial scope of ecosystem capacity, and gradually establish a green development model that is compatible with ecosystem capacity.

First: The indicator has a single representation and is oversimplified. It only measures the degree of ecological sustainability, emphasizing the impact of human development on the environmental system and its sustainability, without taking into account human satisfaction with existing consumption patterns; Second: It is difficult to reflect the influence of factors such as the way of human activities, improvement of management level and technological progress; Third: Analysis methods based on status quo static data are difficult to perform dynamic simulation and prediction.

Data is relatively easy to obtain; calculation methods are operable; highly repeatable

Dynamic improvement - time series footprint model; process improvement - input-output footprint model, component method ecological footprint model

The evaluation index system is specifically divided into target layer, criterion layer, indicator layer and sub-indicator layer.

Ecosystem resilience: geology and landforms (S1), climate (S2), soil (S3), vegetation (S4), hydrology (S5)

Resource and environmental carrying capacity: resource elements (S1), environmental elements (S2)

Stress: Resource Stress (S1), Environmental Stress (S2)

＜20, 21-40, 41-60, 61-80, ＞80: Weak but medium is very strong; weak, low, medium and high; weak, low, medium and strong

Steps: ① System flow diagram design; ② Main state equation description and model construction; ③ Model simulation calculation

Steps: ① Construct an evaluation index system; ② Construct a standardized evaluation matrix; ③ Construct an evaluation matrix; ④ Determine positive and negative ideal solutions; ⑤ Calculate distance; ⑥ Calculate the closeness of the evaluation object to the ideal solution

According to the theory of fuzzy mathematics, the main factors of the object to be evaluated are selected, and a single factor evaluation is performed first. The evaluation results form a fuzzy relationship matrix, and then the weight of each factor in the overall comprehensive evaluation is considered.

A multivariate statistical method that studies the correlation between various elements through mathematical statistical analysis.

Based on emergy, the ecological economic benefits are quantitatively analyzed by converting the energy of different energy flows (energy logistics, currency flow, population flow, information flow, etc.) in the ecosystem into a unified standard of energy.

Regional ecological environment carrying capacity

Regional ecological environment quality

stabilization strategy

development strategy (offensive, growth)

Retreat strategy (retreat type)

Cost leadership strategy

Differentiation Strategy

focus strategy

Study the different departments of an enterprise such as R&D design, investment, marketing, finance, human resources, and production and how they are organized to serve the overall strategy of the enterprise, including R&D strategy, investment strategy, marketing strategy, production strategy, financial strategy, and human resources strategy etc.

There are few companies in the industry, low market demand and high costs.

Market demand has expanded sharply, product quality has improved, and costs have dropped.

Product technology is mature, costs are falling, profits are high, and industry growth is slowing down

Substitutable new products emerge, and the market for original products shrinks rapidly

in accordance with

feature

Horizontal factors: The threat of new entrants to the industry. (Depending on industry entry barriers and counterattack strategies of existing businesses that may be encountered)

Horizontal factors: competition from existing firms. (The most important competitive force)

Horizontal factors: Threat of substitutes. (price competitiveness of substitutes; satisfaction with quality and performance of substitutes; ease of customer switching to substitutes)

Vertical factors: Bargaining power of suppliers.

Vertical factors: Bargaining power of customers. (Putting companies in the industry against each other, thus leading to a reduction in industry profitability)

① First determine the key strategic factors in the industry. ② Determine the weight of each factor based on its relative importance to operating successfully in the industry. ③Select the main competitors and rate the company according to each indicator. ④ Multiply the evaluation value of each factor by the corresponding weight to obtain a weighted score of the relative competitiveness of each competitor on the corresponding strategic factor. ⑤ Calculate the total weighted score of the enterprise. By comparing the total weighted score, you can determine the company with the strongest and weakest competitiveness, as well as the difference in competitive advantages between the evaluated companies.

Technology: technological innovation ability, product innovation ability, application ability on established technologies, online marketing ability, etc.

Manufacturing: low production costs, high production capacity utilization, high labor skills, strong product design capabilities, etc.

Resource processing: control ability of natural resources, financial financing ability, cost control ability

Daily consumer goods manufacturing: quality management, brand building, cost control, sales network, etc.

Distribution category: strong wholesale network/special dealer network, company-controlled retail stores, own distribution channels and outlets, low sales costs, fast delivery, etc.

Service Category: Favorable company image/reputation, low total cost, convenient facility location, courteous employees, financing capabilities

Horizontal axis (from left to right): Relative market share (ratio to the market share of the largest competitor), 1.5 high, 1.0 medium, 0.1 low

Vertical axis (from bottom to top): Growth rate of the industry in which the company is located, 0 is low, 10% is medium, and 20% is high.

Features

specific measure

strategic application

Features

specific measure

strategic application

Features

specific measure

strategic application

Features

specific measure

strategic application

Horizontal axis (from left to right): corporate strength, 5, 4, 3, 2, 1

Vertical axis (from bottom to top): Industry attractiveness, 1, 2, 3, 4, 5

The general matrix adds an intermediate level to address the defect of the Boston matrix coordinate scale being too coarse.

financial level

customer level

Internal business process level

learning and growth aspects

①The balance between financial indicators and non-financial indicators. ②The balance between the company's long-term goals and short-term goals. ③The balance between result indicators and motivation indicators. ④The balance between internal groups and external groups of the enterprise. ⑤The balance between leading indicators and lagging indicators.

Advantages: Able to maximize the creativity of experts, free from external influence and no psychological pressure

Disadvantages: It is easily affected by personal factors, lacks an atmosphere of mutual inspiration, and inevitably has certain limitations.

Brainstorming method, confrontational meeting method, hybrid meeting method

The two stages are a questioning brainstorming meeting to generate various ideas and prediction plans; the second stage is a confrontational meeting to question and discuss various ideas in the previous stage, and also to propose new ideas and continue to inspire. Achieve consistent prediction conclusions

Generally speaking, the number of selected experts is about 20, which can be adjusted according to the scale and importance of the prediction problem.

A questionnaire should be designed in the Delphi method to allow experts to evaluate and judge relatively concentrated forecast events and put forward further opinions. After the forecast working group compiles statistics, a preliminary forecast opinion is formed. If necessary, a questionnaire can be developed based on the prediction results of the second round and a third round of prediction can be carried out.

After sorting out the opinions, the survey results were summarized for further statistical analysis and data processing. Indicators such as the mean, median, mode, and average subjective probability of expert estimates can be calculated.

Analysis of variance: R square = normalized variance/partial variance, the percentage of variation in Y that can be explained by X.

Correlation coefficient test

t-test

Point prediction and area prediction

Average prediction of the next n items

The value of n

Features

Weighted average of the previous n items predicts the next item

A21 Domestic equipment purchase fee = original price of equipment (ex-factory price includes spare parts costs) + equipment transportation and miscellaneous charges, equipment transportation and miscellaneous charges = original price of equipment * rate

A22 Imported equipment purchase fee Pay attention to foreign exchange rates

Z11 Purchased raw materials and fuels = Annual purchased raw materials and fuels/Annual turnover times of raw materials and fuels

Z12 Other materials = annual outsourcing cost of other materials/annual turnover times of other materials

Z13 Product in progress = (Annual outsourced raw materials, fuel, and power costs + Annual salary and welfare costs + Annual repair costs + Annual other manufacturing expenses)/Annual turnover times of Product in progress

Z14 finished products = (annual operating cost – annual other operating expenses) / annual turnover times of finished products

① Capital asset pricing model method (CAPM model): common stock capital cost = social risk-free investment rate of return investment risk coefficient (market portfolio expected rate of return - social risk-free investment rate of return)

②Pre-tax debt cost risk premium method: common stock capital cost = pre-tax debt capital cost. The risk premium required by investors to bear greater risks than creditors (usually 4%)

③Dividend growth model method: common stock capital cost = expected annual dividend amount/common stock market price expected annual growth rate of common dividends

Borrowing cost of funds calculation: Fund raising fees are incurred at the beginning of the first year

Bond Funding Cost Calculation

Financial leasing capital cost calculation

The cost of capital after taking into account the different tax deduction effects of interest and principal

The capital cost after income tax on borrowings, bonds and other financing: capital cost = pre-tax capital cost * (1-income tax rate)

Calculation of after-tax capital cost after considering the impact of income tax exemption year T

Based on the total amount of financing, under the same environment and risks, the selection is made through the calculation and comparison of the weighted average financing cost rate.

Due to additional financing and changes in the financing environment, the original optimal capital structure of the project needs to be adjusted, and a new optimal capital structure needs to be sought amidst constant changes to achieve the optimization of the capital structure.

Revenue (output tax) → operating costs (input tax) → value-added tax (taxes and surcharges) [profit before interest and tax] → repay interest [profit before tax (total profit)] → pay income tax [profit after tax (net profit) )] → Profit distribution of preferred shares (fixed dividend) → Profit distribution of common shares

The source of repayment is mainly the cash flow generated by the underlying assets and has nothing to do with the overall credit of the sponsor.

Establishing a specialized agency for asset securitization; “real sale” asset transfer; reorganizing the cash flow of underlying assets

Asset securitization is an off-balance sheet financing method and will not increase the size of the financier’s assets and liabilities (it will not be included in the balance sheet)

①Initiator, the initiator is the starting point of asset securitization, the original equity holder of the underlying assets, and the seller of the underlying assets.

②Special purpose entity, SPV is an intermediary between the sponsor and investors, and is the real issuer of asset-backed securities.

③The service person supervises and takes care of the asset projects and the cash flows they generate, and is responsible for collecting the due principal and interest of these assets.

④The trustee is responsible for the custody of the asset portfolio and all powers related to it, and performs functions on behalf of investors.

⑤Underwriters promote the issuance of securities to help the securities be successfully issued to, usually underwritten by financial intermediaries such as investment banks.

⑥Credit enhancement agencies can adopt two methods: internal enhancement and external enhancement. Corresponding to these two methods, credit enhancement agencies are the sponsor and independent third party respectively.

⑦Credit rating agencies, Standard & Poor's, Moody's and Fitch.

⑧Investors, purchasers and holders of asset-backed securities issued by SPV, are generally divided into public investors and institutional investors

Interest rate - the key variable and the most fundamental factor in pricing

Volatility – determines the value of embedded options

Prepayment – ​​Changes to Cash Flows

Term structure model - a description of interest rates

Liquidity - Liquidity Premium and Liquidity Risk

Credit enhancement – ​​improved pricing basis and credit spread

static discounted cash flow model

Monte Carlo simulation model

option adjusted spread method

Revitalize existing PPP project assets

Attract more social capital to participate in the provision of public services

Improve project stable operation capabilities

Basic assets mainly include three types of income rights assets, debt assets and equity assets. Among them, income rights assets are the most important basic asset type for PPP project asset securitization.

Three types of income rights as underlying assets

Own funds, interest and taxes payable, unused or unallocated special funds

Features: Funds come from within the enterprise, no financing fees are incurred, and it has obvious cost advantages. It also has efficiency advantages and can effectively reduce time costs.

Equity financing: common stock financing, preferred stock financing

Debt financing: loan financing, bond financing

Hybrid financing: convertible bonds (creditors become shareholders), warrants (options, call options to purchase a specified number of common shares at a specific price)

Features: Equity financing forms the owner's equity of the enterprise, which will have varying degrees of impact on the equity structure, and even affect the control rights of the original shareholders over the enterprise; debt financing enterprises need to repay principal and interest on time, which may have a greater impact on the capital structure. Changes in corporate debt ratios will affect corporate financial risks; hybrid financing has the characteristics of both equity financing and debt financing

a. On the premise that the enterprise continues to operate, the annuity method and segmentation method can be used for evaluation:

b. Enterprise value assessment based on the assumption that the enterprise will continue to operate as a limited company

a. Refer to the enterprise comparison method

b. Comparative method of merger and acquisition cases

cRefer to the application of enterprise comparison method and merger and acquisition case comparison method (alternative indicators)

1. Determine the total cost required to rebuild or reacquire the measured asset under the current environment.

2. Conduct a comprehensive evaluation of depreciation factors such as economic depreciation, functional depreciation, and physical obsolescence depreciation of the measured assets, and make adjustments to the above costs based on this to obtain the fair value valuation of the measured items.

If the current output tax is less than the current input tax and is insufficient for deduction, the shortfall can be carried forward to the next period for further deduction. Output tax = sales × tax rate

=variable cost*tax rate

Variable cost = purchased raw materials, purchased fuel and power (piece wages and welfare fees)

=Project expenses, the part of other project construction expenses that can be converted into fixed assets, reserve expenses, interest during the construction period-deductible input tax on fixed assets

Engineering cost = construction project fee, installation project fee, equipment purchase fee

The part of other project construction costs that can be converted into fixed assets = other project construction costs - intangible asset costs - other assets or deferred asset costs

①average method

②Workload method

③Double declining balance method

④Sum of years’ digits method

Comparison of several depreciation methods

F1 production costs

F2 period fee

= (expenses for purchased raw materials, fuel and power, wages or salaries, repair expenses, other expenses), depreciation expenses, amortization expenses, interest expenses

=Operating costs, depreciation, amortization, interest expenses

Operating costs = purchased raw materials, fuel and power costs, wages or salaries, repair costs, other costs

It examines the rationality of the project plan design from the perspective of the total profitability of the project investment.

Reflects the profitability level of the project from the overall perspective of project equity investors. Its analysis indicators are an important basis for comparing and choosing financing options.

Determine the cash inflow and cash outflow according to the specific situation of the project and the cash flow situation of the investing parties, and calculate the financial internal rate of return indicators of the investing parties. The expression and calculation method are the same as the financial internal rate of return of the project investment, but the table and net rate are based on The connotations of cash flows are different, and the benchmark parameters for judgment are different.

The original value involved in the amortization of investment cash income tax is different from the original value involved in the amortization of capital income tax, so it is not a simple matter of interest reduction.

①The investment income must be greater than the opportunity cost of capital, otherwise the investment will have no comparative value. Therefore, the opportunity cost of capital is usually used as the basis for determining benchmark parameters.

②The benchmark parameter of the financial internal rate of return of project capital should be the lowest acceptable rate of return for the entire project capital owner. You can determine it yourself, or you can determine it by referring to the return on net assets of similar projects (enterprises).

return on investment

static payback period

Source of capital

fund application

Interest during construction period

① Repay principal and interest in equal amounts (equal principal and interest, principal and interest are equal amounts)

② Repay the principal in equal amounts, and the interest will be paid as usual (equal amounts of principal, the principal is the same amount)

③Other ways of repaying principal and interest

Interest rate on working capital loans = Balance of working capital borrowings at the beginning of the year × Corresponding annual interest rate on borrowings

The ratio of the profit before interest and tax during the loan repayment period to the interest payable in the current year reflects the degree of guarantee of the project's repayment of debt interest from the perspective of the adequacy of the source of interest payment funds.

Interest coverage ratio = Profit before interest and tax (EBIT)/Amount of interest payable

And should be greater than 1, generally not less than 2

Reflects the project's ability to repay debt principal and interest from the perspective of the adequacy of debt repayment funding sources.

= (earnings before interest, taxes, depreciation and amortization EBITDA - income tax)/amount of principal and interest repayable

The debt service reserve ratio represents the guaranteed ratio for repaying the principal and interest of the debt. It should be at least greater than 1, and generally should not be less than 1.3, and is determined based on the requirements of creditors;

It refers to the ratio of a company's total liabilities to its total assets at a certain point in time.

Asset-liability ratio = (total liabilities/total assets) × 100%

Current ratio = current assets/current liabilities

Quick ratio = Quick assets/Current liabilities = (Current assets - Survival)/Current liabilities

The higher the indicator, the stronger the ability to repay current liabilities. The internationally recognized standard ratio is 2.0.

The required analysis indicator in the sensitivity analysis of financial analysis is the financial internal rate of return of project investment, and the required analysis indicator in the economic analysis is the economic net present value or the economic internal rate of return. According to the actual situation of the project, other evaluation indicators such as investment payback period can also be selected. If necessary, sensitivity analysis can be performed on two or more indicators at the same time.

Factors that usually require sensitivity analysis include construction investment, output prices, main input prices or variable costs, operating loads, construction period, and foreign exchange rates. Other factors may also be selected based on the specific circumstances of the project.

Generally, the percentage change of uncertain factors is selected. For the needs of drawing, ±5%, ±10%, ±15%, ±20%, etc. can be selected respectively.

sensitivity coefficient

Critical point F

Prepare sensitivity analysis table

Plot sensitivity analysis

① Combine the calculation results of sensitivity coefficients and critical points, sort by the sensitivity of the uncertain factors, and find out which factors are more sensitive uncertain factors. The sensitivity coefficients and critical points can be known through visual inspection or observation. Those with higher sensitivity coefficients or lower critical points are more sensitive factors.

② Qualitatively analyze the possibility of changes in uncertain factors represented by critical points. Based on the analysis and research in the previous chapters of the feasibility study report, combined with experience, we make judgments to explain whether a certain uncertain factor under investigation is likely to change as represented by the critical point, and make a rough estimate of the risk.

③ Summarize the conclusions of the sensitivity analysis, point out the most sensitive key factor or factors, and roughly predict the possible risks of the project.

Output equals sales, that is, all products produced in the year (deducting the amount for own use) are sold in the same year. →Not unsaleable

As the output changes, the unit variable cost remains unchanged, that is, the total cost is a linear function of output. →F total cost = F fixed cost P variable cost unit price * Q output

As output changes, product selling price remains unchanged, that is, sales revenue is a linear function of sales volume. →F revenue=P sales unit price*Q output

Only a single product is produced, or multiple products are produced, but it can be converted into a single product calculation, that is, the changes in load rates of different products are consistent.

Profit before tax = F revenue – F total costs – F taxes and surcharges

③BEP (production capacity utilization rate Q/Q')=F solid/(P sales Q'-P change Q'-t unit tax attached Q')=F solid/(annual sales revenue-annual variable cost-annual tax and additional)*100%

The break-even point should be calculated based on the data in the year when the project reaches production, and cannot be calculated based on the average value during the calculation period.

When the values ​​for each year in the calculation period are different, it is best to calculate separately according to the repayment period and the year after the loan is repaid.

Financial analysis analyzes financial benefits and sustainability from the level of the project's financial entities and investors; economic analysis analyzes and evaluates the project's net contribution to society from the perspective of the entire society.

Financial analysis only calculates the direct benefits and costs of the project; economic analysis considers not only direct benefits and costs, but also indirect benefits and costs.

Financial analysis uses forecasted financial revenue and expenditure prices; economic analysis uses shadow prices.

Financial analysis must conduct profitability analysis, solvency analysis, and financial viability analysis; economic analysis only conducts profitability analysis, that is, economic efficiency analysis.

The most important parameter of financial analysis is the financial benchmark rate of return, and the benchmark parameter of economic analysis is the social discount rate.

The calculation period for economic analysis may be longer than the calculation period for financial analysis.

③Opportunity cost method

① The direct benefit of transportation projects is reflected in the effect of time saving;

②The output effects of education projects, medical and health care projects, etc. are reflected in their impact on human capital, life extension or disease prevention;

③The direct benefits of water conservancy project projects include flood control benefits, sedimentation reduction benefits, and power generation benefits.

- Transfer payments (domestic bank interest, taxes payable, government subsidies), resource tax retention

-Receivables, payables, advance receipts, prepayments and cash that do not belong to the consumption of social resources

-Follow the principle of real value, do not consider inflation, and exclude price increase reserve fees

Identify project externalities such as indirect benefits and overhead flows

①Adjust direct benefit flow

②Adjust construction investment

③Adjust operating expenses

④Adjust working capital

⑤The residual value of recovered assets generally does not need to be adjusted

① Arrange the plan costs from small to large

② Start comparing the two options with the smallest cost, and select the winning option through incremental analysis;

③ Carry out incremental analysis between the winning plan and the next immediately adjacent plan, and select a new winning plan;

④ Repeat the third step until the last plan is reached, and the finally selected advantageous plan is the optimal plan.