Amortizarea surs de finanare a investiiilor

Amotizarea = process de recuperare treptata a unui capital fix investiti, cuprinzand un ansamblu
de operatiuni prin care se stabilesc valorile de amortizat, duratele de amortizare, cotele si sisemul de
amortizare.
1. Sistem liniar

Vi V r
a D
Vi
VI= Valoarea investitiei
VR=Valoarea reziduala
a=norma de amortizare
D=durata
ex. Valoarea investitiei = 150.000
Valoarea reziduala = 10%

150000 15000
10
a
0.09
150000
An
1
2
3
4
5
6
7
8
9
10

Va
150000
150000
150000
150000
150000
150000
150000
150000
150000
150000

a
0.09
0.09
0.09
0.09
0.09
0.09
0.09
0.09
0.09
0.09

A an
13500
13500
13500
13500
13500
13500
13500
13500
13500
13500

Total
13500
27000
40500
54000
67500
81000
94500
108000
121500
135000

2. Sistem accelerat cu valoare descrescatoare

V
a 1 D r

Vi

1|Page

15000
1 10 0.1 1 0.794328 0.205672
a 1 10

150000

An
1
2
3
4
5
6
7
8
9
10

Va
150000
119149.2
94643.6
75178.09
59716.08
47434.16
37678.3
29928.93
23773.4
18883.88

a
0.205672
0.205672
0.205672
0.205672
0.205672
0.205672
0.205672
0.205672
0.205672
0.205672

A an
30850.76
24505.63
19465.52
15462.01
12281.91
9755.868
7749.362
6155.537
4889.517
3883.881

Total
30850.76
55356.4
74821.91
90283.92
102565.8
112321.7
120071.1
126226.6
131116.1
135000

3. Sistem accelerat cu norma descrescatoare

Di

a
D D 1

An
0
1
2
3
4
5
6
7
8
9
10

2|Page

a
10
0.181818
0.163636
0.145455
0.127273
0.109091
0.090909
0.072727
0.054545
0.036364
0.018182

Va
135000
135000
135000
135000
135000
135000
135000
135000
135000
135000

A an

Total

24545.45
22090.91
19636.36
17181.82
14727.27
12272.73
9818.182
7363.636
4909.091
2454.545

24545.45
46636.36
66272.73
83454.55
98181.82
110454.5
120272.7
127636.4
132545.5
135000

10 0

10 0.181818
a1
10 10 1 55

10 1

9 0.163636
a1
10 10 1 55

4. Amortizare conform Legii 15/1994

An
1
2
3
4
5
6
7
8
9
10

Va
150000
150000
150000
150000
150000
-

a
0.2
0.2
0.2
0.2
0.2
-

A an
30000
30000
30000
30000
30000
-

Total
30000
60000
90000
120000
150000
-

a=0.15 Durata (2,5) ani

a=0.2 D [5,10] ani
a=0.25 D>10 ani
5. Amortizare accelerata
-primul an a=50%
- din anul (2n) a= 1/(D-1)
An
1
2
3
4
5
6

3|Page

Va
150000
75000
75000
75000
75000
75000

a
0.5
0.111111
0.111111
0.111111
0.111111
0.111111

A an
75000
8333.333
8333.333
8333.333
8333.333
8333.333

Total
75000
83333.33
91666.67
100000
108333.3
116666.7

7
8
9
10

4|Page

75000
75000
75000
75000

0.111111
0.111111
0.111111
0.111111

8333.333
125000
8333.333 133333.3
8333.333 141666.7
8333.333
150000