经济折旧对会计盈利指标误差的修正

Economic depreciation’s modification to the error of profitability guideline

利润或利润率是企业评价投资效果的重要指标,其中折旧是影响利润的重要因素之一。长期以来,我们按照会计制度和资产自身的特点选择折旧方法,如直线折旧法、年数总和法、双倍余额递减法等,这些方法确定的年折旧额都有赖于资产的原始成本和使用年限及期末净残值,而未考虑投资的未来现金流量。实际上各项投资能否给企业带来盈利依赖的是未来现金流量的多少,而非投资成本,为了真实地反映投资的盈利水平,其折旧额也应以未来现金流量为依据,经济折旧就是未来现金流量的年初年末现值的变化额,以经济折旧为实际折旧进一步确认利润,能更准确地反映各期实际盈利情况,给投资者和企业管理者提供更真实有用的信息。

Profits or profit margin is an important index with which a company can evaluate its investment performance. The depreciation is the important factor that influence the profits directly. We always choose the depreciation way according to accounting system and assets＇ own features for a long time, such as stralnghtening, sum-of-years-digits depreciation method, double declining balance method of depreciation, etc. The yearly depreciation allowance fixed by all these ways are depend on first cost of assets, tenure of use and final net profit and loss section. One defect is that we haven＇t consider the investable coming cash flow. Actually does every investment gaining profits to company depends on the coming cash flow instead of investable costs.In order to response the level of capital gains objectively, its depreciation allowance should be subject to coming cash flow. Economic depreciation is the variational quota of the coming cash flow in beginning of the year and end of the year. We use economic depreciation to do the luther confirmability for profits based on actual depreciation can react truely earnings more exactly,and can also provide more valuable information to investor and governor.