房地产论文：“现代城”房地产项目财务评估研究.doc

房地产论文：“现代逸城”房地产项目财务评估研究 【中文摘要】房地产业是我国市场经济的重要组成部分,也是我国国民经济的支柱产业之一。在房地产行业快速发展的同时也暴露出一些问题,投资增幅过大、房价过高等“泡沫”现象也随之产生,政府对房地产业中出现问题的关注和整顿力度不断加大。在此经济形势下,房地产开发企业为保证项盈利能力及企业的继续发展,如何进行投资决策,成为房地产企业的首要问题。国内外经验表明,房地产项目前期项目论证与评价特别是财务评价的优劣对项成功起决定作用。对房地产项目财务评估分析是从房地产投资项目角度对其进行的经济分析与评价,即根据政府现行财税制度、价格体系和有关法律、法规的要求,计算、分析房地产投资项目直接和间接发生的成本费用和财务效益等内容,从项目角度,评价项盈利能力、偿债能力、不确定因素等财务状况,据此判断项目财务可行性。本文旨在通过房地产财务评估相关理论结合“现代逸城”房地产开发案例分析,对房地产开发项目财务评价作一系统介绍。本文对项财务评估研究主要采用了定性分析与定量评估相结合、静态分析与动态分析相结合的方法,在市场分析及相关数据预测的基础上,对项投资和资金筹措、成本费用、销售收入及税金等方面进行了分析,并对财务评价指标进行了测算;同时,对项目盈利能力、偿债能力、不确定性进行了评价;最后对房地产企业的财务风险因素进行了分析,并提出相关措施。研究结果表明,项目财务上可行,并具备一定抗风险能力。 【英文摘要】China’s real estate industry is an important component of the market economy and it’s also one of the pillar industries in China’s national economy. The real estate industry maintains fast development, but it reveals a series of “bubble” phenomenon such as the large investment growth, overpriced market, at the same time the government is paying more attention to concerning and consolidating the problems of the real estate industries. In the economic situation, in order to ensure the project抯 profitability and continue to develop this field, how to make investment decisions is becoming the most important issue for the real estate development enterprises. Domestic and international experience shows that pre-feasibility study of the real estate project and evaluation, especially the quality of financial evaluation plays a vital role to the project.The real estate project of financial analysis and assessment is from the perspective of investment project to make economic analysis and evaluation. In other words, according to the requirements of Government抯 existing tax system, the price system and relevant laws, regulations, it can calculate and analyze direct and indirect incurred costs and financial benefits and other contents of the real estate investment projects. From the viewpoint of project, it can evaluate such financial situation as the project抯 profit