注册会计师 财管 投资项目资本预算19 资本限量选组合 episode artwork

EPISODE · Jul 24, 2026 · 18 MIN

注册会计师 财管 投资项目资本预算19 资本限量选组合

from 飞凡26CPA:财务成本管理|从逻辑推导到高效通关

【本期主题】 资本限额下的组合思维——从"效率至上"到"绝对财富最大化"的视角切换,以及排列组合法在预算红线内的最优解锁定。【核心案例】 预算18000万:项目甲(投10000万、NPV=1514万、PI=1.15)、项目乙(投5000万、NPV=1253万、PI=1.25)、项目丙(投5000万、NPV=1300万、PI=1.26);直觉选乙+丙(总投资10000万、NPV=2553万)但闲置8000万;组合甲+乙(投15000万、NPV=2767万)>乙+丙;冠军组合甲+丙(投15000万、NPV=2814万)以绝对规模胜出;闲置资金在模型中假设NPV=0(赚取资本成本及格线)。

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注册会计师 财管 投资项目资本预算19 资本限量选组合

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