Capital expenditure
cfa | cashflow
“Capital expenditures (CapEx) are funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technology, or equipment. CapEx is often used to undertake new projects or investments by a company. Making capital expenditures on fixed assets can include repairing a roof (if the useful life of the roof is extended), purchasing a piece of equipment, or building a new factory.”
> > Quỹ của công ty dành để đầu tư cho tài sản cố định như mở cửa hàng, mua 1 thiết bị, làm nhà xưởng gọi là CapEx (capital expenditure)
Ồ, khoản ngân sách này được ghi nhận trong Balance sheet (capitalized asset) chứ không tính là Expense trong Income statement. Ví dụ, hôm bữa xem bảng báo cáo thu chi của Hallasan, thì toàn bộ tiền bỏ ra xây cửa hàng không tính vào chi phí của Income statement mà sẽ là Capitalized asset trong balance sheet. Đây là tài sản được đầu tư để tạo ra lợi nhuận trong tương lai.
CapEx phải có tuổi (vòng đời) > 1 year. Nếu < 1 year, thì được tính là Expense (Operating expense) trong income.
Unlike CapEx, operating expenses (OpEx) are shorter-term expenses used for the day-to-day operations of a business.
Công ty L đầu từ vào phòng server và các thiết bị cho data center, khoản này sẽ tính vào CapEx chứ không phải là expense trong Income
Types of CapEx
Many different types of assets can attribute long-term value to a company. Therefore, there are several types of purchases that may be considered CapEx.
Buildings may be used for office space, manufacturing of goods, storage of inventory, or other purposes.
Land may be used for further development. Accounting treatment may different for land specifically held as a speculative long-term investment.
Equipment and machinery may be used to manufacture goods and convert raw materials into final products for sale.
Computers or servers may be used to support the operational aspects of a company including the logistics, reporting, and communication of operations. Software may also be treated as CapEx in certain circumstances.
Furniture may be used to furnish an office building to make the space usable by staff and customers.
Vehicles may be used to transport goods, pick up clients, or used by staff for business purposes.
Patents may hold long-term value should the right to own an idea come to fruition through product development.
Free Cashflow to Equity (amount of cash available to equity share holders)
FCFE=NI−NCE−ΔC+ND−DR
where:
NI=Net income
NCE=Net CapEx
ND=New debt
DR=Debt repayment
Chi phí xây cửa hàng 1 lần là CapEx (sẽ được khấu hao), còn chi phí thuê mặt bằng nhà kho, cửa hàng là chi phí thường xuyên của kinh doanh OpEx
What Is the Difference Between CapEx and OpEx?
The key difference between capital expenditures and operating expenses is that operating expenses recur on a regular and predictable basis, such as in the case of rent, wages, and utility costs. Capital expenses, on the other hand, occur much less frequently and with less regularity. Operating expenses are shown on the income statement and are fully tax-deductible, whereas capital expenditures only reduce taxes through the depreciation that they generate.
Read this article: https://www.investopedia.com/terms/c/capitalexpenditure.asp