Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute Dr. Piero Carlo Frigerio FinPiemonte.

Slides:

Advertisements

Similar presentations

1 Why the World Bank Successful Privatisations are Useful for the Audit of Privatisation? The World Bank rich experience worldwide through providing technical.

Advertisements

Capital Budgeting.

MANAGERIAL ACCOUNTING

Using of cash flow for the financial stability and causes for changes in the amount of financial means, for the short-term planning of incomes and expenses,

1 Roundtable Meeting of Quality Assurance Agencies of the Organisation of Islamic Conference Member Countries Kuala Lumpur, Malaysia November 2009.

VI-Economic Evaluation of Facility Investments 1. Project Life Cycle and Economic Feasibility 2.Basic Concepts of Economic Evaluation 3.Costs and Benefits.

CISB444 - Strategic Information Systems Planning

1 EUROCITIES Working Group « Developing a New Mobility Culture » Background information on EU funding streams Mobility Forum meeting Copenhagen, 21 June.

The Knowledge Resources Guide The SUVOT Project Sustainable and Vocational Tourism Rimini, 20 October 2005.

Overview of Financial Statement Analysis

TOPICS 1. FINANCIAL DECISIONS, INVESTMENT DECISIONS AND DIVIDEND DECISIONS 2. FINANCIAL MANAGEMENT PROCESS 3.PROFIT MAXIMIZATION AND WEALTH MAXIMIZATION.

Financial Ratio Analysis

Financial Strategy and Financial Objectives “Running by the Numbers”

Week 10 DIFD 321 Accounting & Finance. WHAT IS MARKETING? The action or business of promoting and selling products or services, including market research.

FOOD ENGINEERING DESIGN AND ECONOMICS

Is a Financial Institution controlled by the Italian Ministry for Economic Development, participated by leading Italian Banks and Confindustria – the.

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute PRP as a tool for: Reduce overall.

April, 2013 Agency for Investments and Competitiveness.

Why are economic and financial instruments needed? A presentation made by Noma Neseni, IWSD.

MENA-OECD Investment Programme Draft Policy Considerations on Incentives Working Group 3 Meeting Cairo, Egypt 6-7 September 2006.

GOVERNMENT OF ROMANIA MINISTRY OF PUBLIC FINANCE MANAGING AUTHORITY FOR COMMUNITY SUPPORT FRAMEWORK Evaluation Central Unit Development of the Evaluation.

Labor Market Project Rodina hotel, Sofia 22 May 2003 The Private Pension System. Investment of Pension Fund Resources.

$$ Entrepreneurial Finance, 5th Edition Adelman and Marks 10-1 Pearson Higher Education ©2010 by Pearson Education, Inc. Upper Saddle River, NJ Capital.

Joint Forum of Financial Market Regulators Forum conjoint des autorités de réglementation du marché financier Guidelines for Capital Accumulation Plans.

PRESENTED BY: RAHIMA NJAIDI MJUMITA 3 RD APRIL 2012.

ASM Pacific Technology Limited Consolidated Profit and Loss Account For the year ended 31 December 1998.

How the EU is financed EU spends around €140 billion euro per year across the Member States All Member States contribute to the EU budget In 2011, Ireland’s.

Connolly - International Financial Accounting and Reporting - 2nd Edition CHAPTER 7 BORROWING COSTS.

1 Principles of Accounts Analysis and Interpretation of Final Accounts.

WHAT’S CHANGED POST THE FINANCIAL SUSTAINABILITY INQUIRY? FMG Seminar 27 March 2009 Presented by John Comrie.

System Engineering & Economy Analysis Lecturer Maha Muhaisen College of Applied Engineering& Urban Planning.

Ministry of the Environment and Territory Directorate for Development and Environmental Research Ministry of Economy and Finance Department for Development.

Annual Report Nissan Motor Co., Ltd. Scott Nelson ACG2021 sec 080.

INSTRUCTOR'S MANUAL Chapter 3 ESTABLISHING A BUSINESS.

Principles of Financial Analysis Week 2: Lecture 2 1Lecturer: Chara Charalambous.

DETERMINE Working document # 4 'Economic arguments for addressing social determinants of health inequalities' December 2009 Owen Metcalfe & Teresa Lavin.

" Implementing JEREMIE in Greece: objective and products for SMEs, perspectives" " Implementing JEREMIE in Greece: objective and products for SMEs, perspectives"

Feasibility Study.

Financial Management Glencoe Entrepreneurship: Building a Business Analyzing Your Finances Managing Your Finances 21.1 Section 21.2 Section 21.

“Running by the Numbers”.  Used to “capitalize” the venture  A = L + OE  How much Owners Equity?  How much Debt?

Accounting Page 313.  Why?  To measure the success of a business  To assess performance  To get loans from banks  To plan ahead.

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute Amendment of Pollution Reduction Programme.

Interreg IIIB Trans-national cooperation: Budget comparison : 440 million EURO 420 m EURO (Interreg IIC prog.) + 20 m EURO (Pilot Actions)

EVALUATION OF THE SEE SARMa Project. Content Project management structure Internal evaluation External evaluation Evaluation report.

Understanding Financial Management

UNIT No. 3 Capital Budgeting Nature Significance Technique of Capital Budgeting Pay back Method Accounting Rate of Return Net Present Value Profitability.

FINANCIAL ANALYSIS. What is Financial Analysis? The process of evaluating businesses, projects, budgets and other finance- related entities to determine.

Investment decision making. Capital investment Capital investments are usually long term and expensive. Examples of capital investment include: Plant.

Finance Citi Funded Entrepreneurship Training Program UNIVERSITY OF DUBAI Dr. Zahi Yaseen.

Preparation and Analysis of Project Report. What is a Project Report?  A Project Report is a detailed description of the Project  The Project Report.

Ratio Analysis…. Types of ratios…  Performance Ratios: Return on capital employed. (Income Statement and Balance Sheet) Gross profit margin (Income Statement)

1. What would you do with $5,000? Be specific. 2. What percentage of taxes should the government take? 3. Where is the safest place to keep your money?

Example 16 1 Given income statement Given balance sheet.

Basics of Financial Management. Introduction to Financial Management Financial Management display the movement of funds (money, capital and other financial.

1 Block 5: Session 3 (Part 1) Organization financial measurement:- The main aim of this section is to introduce you to several ways in which org. attempt.

Chapter 13 Financial performance measures for investment centres and reward systems.

FINANCIAL REPORTING FOR GROUP ENTITIES UNDER IFRS -IFRS 10 Consolidated Financial Statements Conf.univ.dr. Victor-Octavian Müller

Financial Strategy and Financial Objectives

EU’s CO2 Emissions Trading Scheme – Benchmarks for Free Allocation from 2013 Onwards 9 September 2010 Hans Bergman DG Climate Action European Commission.

Block 5 Section 4 External Views Of Organizational Performance

Future of the IRB Approach EBA Discussion Paper March 2015

Accounting for superannuation plans

DG AGRI, Unit F6 Bioenergy, biomass, forestry and climatic changes

Procedures to assess the origin of pollution

Global Entrepreneurship and Small Business Management

Art. 17 EGTC Indicators 13th Meeting of the Expert Group on Delegated and Implementing Acts for the ESI Funds 4th July 2013.

Financial Engineering Modification of the Council Regulation

Pilot study on the adoption of the

Workshop - Marseille 24 May 2019 Innovative Financial Solutions.

Legislative Update: SB 2224 and SB 322 October 1, 2019.

Presentation transcript:

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute Dr. Piero Carlo Frigerio FinPiemonte expert

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute INVESTMENT Application of financial resources for the purchase of assets, equity holding, joint ventures, know-how, patents and services liable to provide direct or indirect economic benefits in subsequent periods. Investment may therefore be made in fixed assets, extraordinary expences, deferred charges, working capital. Investment activities take the form of „proposals“.

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute PROPOSAL A „proposal“ is the set of specific investments required to achieve a pre-established objective, clearly identificable both economically and financially.

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute PROJECT A „project“ includes definition of the means, resources and time required to make the investment. Each proposal may therefore comprise a number of different projects in which part of the proposal is implemented in conformity with the pre-established timetable and objectives.

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute The profitability of an investment proposal is assessed, calculating the following indices: internal rate of return pay-back period net present value break-even point

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute SOURCES OF FINANCING : Report must provide an overview of possible sources of financing to cover the planned investments, indicating in particular: own funds recourse to short/medium/long terms loans indicating the interest rate possible facilitations, specifying the sums that can be obtained, saved, financed and the relative rate of interest in the case of loans

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute Evaluation parameters for calculation of the amount of investments cannot be defined a priori. These parameters could for example refer to the following indicators: Turnover Net profit Employees Owner’s capital etc. although there is no direct link between these indicators and the capability to make an investment.

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute Every company shall be free to define the amount of investments, which it is willing to apply in the future. From the company‘s point of view the yearly fixed investments must not compromise the profit too much. Any investment for “Fixed activities” results in an immediate depletion of its financial position, comparable to the amount of the expense done. In particular, environmental investments, in relation to the economic asset of the farm, have only negative effects, since environmental benefits (hardly definable) are of public interest, mostly.

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute We argue that the investments for environment protection should not exceed on average % of the total year investments in order to be sustainable. State Authority should favour investments dedicated to fixed assets, by providing industry with various economic benefits.

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute Fixed investments for the improvement of the plant management Benefits should address investments on technology, in order that industry achieves as soon as possible the efficiency degree as to compete in the global market.

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute Fixed investments for the improvement of the environmental quality Regardless of the procedures of public supports, we suppose that public benefit for investments should be higher for „environmental investments“ than for “technology investments”.

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute Industries are currently eligible for EU financing of investments. As a EU Member State Slovakia has become the recipient of all the EU policies and programmes. Among others, this means the possibility to apply for a support from the Structural Funds in the framework of the European Regional Policy. In particular, measures aimed at the introduction of technologies that enhance environmental performance are encouraged.

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute It is therefore possible that the investments sustained by a company for the purpose of protection of the environment will be considerably reduced against the total necessary amount. Requirements and procedures are reported in Reference Document on Economics and Cross- Media Effects DRAFT September 2003 European IPPC Bureau (final version expected by December 2004)

Italian Committee of United Cities (CICU) PHARE - twinning Project SK02/IB/EN01 Slovak Hydrometeorological Institute To realize the actions suggested by BATs, three main aspects, at least, are fundamental to be carefully analysed: capability to carry out big investments, as regards the amount of money and the technical difficulties capability to run new settlements (recent BATs could require specific skills which are not available in the company) economic capability to support the investments and to get cash.