{"id":8395,"date":"2023-11-29T06:34:37","date_gmt":"2023-11-29T06:34:37","guid":{"rendered":"https:\/\/masterskills.org\/blog\/tai-tro-ngoai-bang-can-doi-off-balance-sheet-financing-la-gi-vi-du-va-anh-huong.html"},"modified":"2023-12-21T14:23:33","modified_gmt":"2023-12-21T07:23:33","slug":"tai-tro-ngoai-bang-can-doi-off-balance-sheet-financing-la-gi-vi-du-va-anh-huong","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/tai-tro-ngoai-bang-can-doi-off-balance-sheet-financing-la-gi-vi-du-va-anh-huong.html","title":{"rendered":"T\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i (Off-Balance Sheet Financing) l\u00e0 g\u00ec? V\u00ed d\u1ee5 v\u00e0 \u1ea3nh h\u01b0\u1edfng"},"content":{"rendered":"
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(\u1ea2nh minh h\u1ecda: Lease query)<\/p>\n<\/figcaption><\/figure>\n

T\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

T\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i<\/b> trong ti\u1ebfng Anh l\u00e0 Off-Balance Sheet Financing.<\/b><\/p>\n

T\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i<\/b> l\u00e0 l\u00e0 m\u1ed9t th\u00f4ng l\u1ec7 k\u1ebf to\u00e1n ghi l\u1ea1i t\u00e0i s\u1ea3n v\u00e0 n\u1ee3 ph\u1ea3i tr\u1ea3 m\u00e0 kh\u00f4ng hi\u1ec3n th\u1ecb tr\u00ean b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n.<\/p>\n

M\u1ee5c \u0111\u00edch c\u1ee7a ph\u01b0\u01a1ng ph\u00e1p n\u00e0y l\u00e0 gi\u1ea3m c\u00e1c kho\u1ea3n n\u1ee3 ph\u1ea3i tr\u1ea3 c\u1ee7a c\u00f4ng ty tr\u00ean b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n, gi\u00fap b\u1ea3ng c\u00e2n \u0111\u1ed1i tr\u00f4ng c\u00f3 v\u1ebb h\u1ea5p d\u1eabn h\u01a1n \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0.<\/p>\n

V\u00ed d\u1ee5 v\u1ec1 T\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i<\/font><\/h3>\n

C\u00e1c h\u00ecnh th\u1ee9c ph\u1ed5 bi\u1ebfn c\u1ee7a t\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i <\/b>bao g\u1ed3m\u00a0thu\u00ea v\u1eadn h\u00e0nh\u00a0(Operating leases) v\u00e0 quan h\u1ec7 \u0111\u1ed1i t\u00e1c (Partnerships).<\/p>\n

Thu\u00ea v\u1eadn h\u00e0nh<\/b> \u0111\u00e3 \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng r\u1ed9ng r\u00e3i, m\u1eb7c d\u00f9 c\u00e1c qui t\u1eafc k\u1ebf to\u00e1n \u0111\u00e3 \u0111\u01b0\u1ee3c th\u1eaft ch\u1eb7t \u0111\u1ec3 gi\u1ea3m b\u1edbt vi\u1ec7c s\u1eed d\u1ee5ng n\u00e0y.<\/p>\n

M\u1ed9t c\u00f4ng ty c\u00f3 th\u1ec3 thu\u00ea ho\u1eb7c cho thu\u00ea m\u1ed9t thi\u1ebft b\u1ecb v\u00e0 sau \u0111\u00f3 mua thi\u1ebft b\u1ecb v\u00e0o cu\u1ed1i th\u1eddi gian thu\u00ea v\u1edbi s\u1ed1 ti\u1ec1n th\u1ea5p nh\u1ea5t, ho\u1eb7c c\u00f4ng ty ch\u1ecdn mua to\u00e0n b\u1ed9 thi\u1ebft b\u1ecb t\u1eeb \u0111\u1ea7u.<\/p>\n

Trong c\u1ea3 hai tr\u01b0\u1eddng h\u1ee3p, m\u1ed9t c\u00f4ng ty cu\u1ed1i c\u00f9ng s\u1ebd s\u1edf h\u1eefu thi\u1ebft b\u1ecb. N\u1ebfu c\u00f4ng ty ch\u1ecdn thu\u00ea v\u1eadn h\u00e0nh, c\u00f4ng ty ch\u1ec9 ghi l\u1ea1i chi ph\u00ed thu\u00ea thi\u1ebft b\u1ecb v\u00e0 ghi v\u00e0o ph\u1ea7n t\u00e0i s\u1ea3n tr\u00ean b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n.<\/p>\n

N\u1ebfu c\u00f4ng ty mua thi\u1ebft b\u1ecb, c\u00f4ng ty ghi l\u1ea1i t\u00e0i s\u1ea3n (thi\u1ebft b\u1ecb) v\u00e0 n\u1ee3 ph\u1ea3i tr\u1ea3 (gi\u00e1 mua). B\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng thu\u00ea v\u1eadn h\u00e0nh, c\u00f4ng ty ch\u1ec9 ghi l\u1ea1i chi ph\u00ed thu\u00ea, \u00edt h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi mua to\u00e0n b\u1ed9, v\u00e0 \u0111i\u1ec1u n\u00e0y d\u1eabn \u0111\u1ebfn\u00a0b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n\u00a0“s\u1ea1ch” h\u01a1n.<\/p>\n

Quan h\u1ec7 \u0111\u1ed1i t\u00e1c<\/b> l\u00e0 m\u1ed9t m\u1ee5c t\u00e0i ch\u00ednh ph\u1ed5 bi\u1ebfn kh\u00e1c c\u1ee7a t\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i m\u00e0 m\u1ed9t c\u00f4ng ty che gi\u1ea5u c\u00e1c kho\u1ea3n n\u1ee3 c\u1ee7a m\u00ecnh b\u1eb1ng c\u00e1ch t\u1ea1o ra c\u00e1c m\u1ed1i quan h\u1ec7 \u0111\u1ed1i t\u00e1c.<\/p>\n

Khi m\u1ed9t c\u00f4ng ty tham gia v\u00e0o quan h\u1ec7 \u0111\u1ed1i t\u00e1c, ngay c\u1ea3 khi c\u00f4ng ty c\u00f3 chi ph\u00ed ki\u1ec3m so\u00e1t, c\u00f4ng ty kh\u00f4ng ph\u1ea3i th\u1ec3 hi\u1ec7n c\u00e1c kho\u1ea3n n\u1ee3 v\u1edbi \u0111\u1ed1i t\u00e1c tr\u00ean b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n, d\u1eabn \u0111\u1ebfn m\u1ed9t b\u1ea3ng c\u00e2n \u0111\u1ed1i s\u1ea1ch h\u01a1n.<\/p>\n

Hai v\u00ed d\u1ee5 v\u1ec1 c\u00e1c th\u1ecfa thu\u1eadn t\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i minh h\u1ecda t\u1ea1i sao c\u00e1c c\u00f4ng ty c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng n\u00f3 \u0111\u1ec3 gi\u1ea3m c\u00e1c kho\u1ea3n n\u1ee3 ph\u1ea3i tr\u1ea3 c\u1ee7a h\u1ecd tr\u00ean b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n, gi\u00fap b\u1ea3ng c\u00e2n \u0111\u1ed1i tr\u00f4ng c\u00f3 v\u1ebb h\u1ea5p d\u1eabn h\u01a1n \u0111\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0.<\/p>\n

Tuy nhi\u00ean, v\u1ea5n \u0111\u1ec1 m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 g\u1eb7p ph\u1ea3i khi ph\u00e2n t\u00edch b\u00e1o c\u00e1o t\u00e0i ch\u00ednh c\u1ee7a c\u00f4ng ty l\u00e0 nhi\u1ec1u th\u1ecfa thu\u1eadn t\u00e0i ch\u00ednh n\u00e0y kh\u00f4ng b\u1eaft bu\u1ed9c ph\u1ea3i ti\u1ebft l\u1ed9, ho\u1eb7c c\u00f4ng ty ch\u1ec9 ti\u1ebft l\u1ed9 m\u1ed9t ph\u1ea7n. Nh\u1eefng ti\u1ebft l\u1ed9 n\u00e0y kh\u00f4ng ph\u1ea3n \u00e1nh \u0111\u1ea7y \u0111\u1ee7 t\u1ed5ng n\u1ee3 c\u1ee7a c\u00f4ng ty. Do thi\u1ebfu c\u00f4ng b\u1ed1 \u0111\u1ea7y \u0111\u1ee7, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u1ea3i x\u00e1c \u0111\u1ecbnh gi\u00e1 tr\u1ecb c\u1ee7a c\u00e1c b\u00e1o c\u00e1o \u0111\u01b0\u1ee3c b\u00e1o c\u00e1o tr\u01b0\u1edbc khi \u0111\u1ea7u t\u01b0, b\u1eb1ng c\u00e1ch hi\u1ec3u nh\u1eefng t\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i.<\/p>\n

T\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u01b0 th\u1ebf n\u00e0o?<\/font><\/h3>\n

T\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i <\/b>\u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn c\u00e1c t\u1ec9 l\u1ec7 \u0111\u00f2n b\u1ea9y c\u1ee7a c\u00f4ng ty nh\u01b0\u00a0t\u1ec9 l\u1ec7 n\u1ee3 tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu,\u00a0t\u1ec9 l\u1ec7 n\u1ee3 tr\u00ean t\u1ed5ng t\u00e0i s\u1ea3n.<\/p>\n

Ngo\u00e0i c\u00e1c t\u1ec9 l\u1ec7 n\u1ee3, t\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i c\u0169ng \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn ch\u1ec9 s\u1ed1 thanh kho\u1ea3n. C\u00f4ng ty b\u00e1n m\u1ed9t t\u00e0i s\u1ea3n l\u1edbn, th\u01b0\u1eddng l\u00e0 m\u1ed9t t\u00e0i s\u1ea3n c\u1ed1 \u0111\u1ecbnh nh\u01b0 t\u00f2a nh\u00e0 ho\u1eb7c thi\u1ebft b\u1ecb v\u1ed1n l\u1edbn, sau \u0111\u00f3 cho thu\u00ea l\u1ea1i t\u1eeb ng\u01b0\u1eddi mua. Khi b\u00e1n t\u00e0i s\u1ea3n n\u00e0y, d\u00f2ng ti\u1ec1n l\u1edbn s\u1ebd v\u00e0o c\u00f4ng ty, v\u00e0 m\u1ed9t d\u00f2ng ti\u1ec1n ra nh\u1ecf \u0111\u1ec3 l\u00e0m chi ph\u00ed cho thu\u00ea thay v\u00ec mua to\u00e0n v\u1ed1n. \u0110i\u1ec1u n\u00e0y l\u00e0m gi\u1ea3m m\u1ee9c d\u00f2ng ti\u1ec1n ra c\u1ee7a c\u00f4ng ty r\u1ea5t nhi\u1ec1u n\u00ean ch\u1ec9 s\u1ed1 thanh kho\u1ea3n c\u0169ng b\u1ecb \u1ea3nh h\u01b0\u1edfng.<\/p>\n

Ch\u1ec9 s\u1ed1 thanh kho\u1ea3n\u00a0(Liquidity ratio) c\u00e0ng cao th\u00ec kh\u1ea3 n\u0103ng trang tr\u1ea3i c\u00e1c kho\u1ea3n n\u1ee3 hi\u1ec7n t\u1ea1i c\u00e0ng t\u1ed1t. D\u00f2ng ti\u1ec1n t\u1eeb vi\u1ec7c b\u00e1n t\u00e0i s\u1ea3n l\u00e0m t\u0103ng t\u00e0i s\u1ea3n hi\u1ec7n t\u1ea1i l\u00e0m cho ch\u1ec9 s\u1ed1 thanh kho\u1ea3n thu\u1eadn l\u1ee3i h\u01a1n.<\/p>\n

\u0110i\u1ec3m m\u1ea5u ch\u1ed1t c\u1ee7a T\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i<\/font><\/h3>\n

C\u00e1c th\u1ecfa thu\u1eadn t\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i <\/b>l\u00e0 t\u00f9y \u00fd v\u00e0 m\u1eb7c d\u00f9 ch\u00fang \u0111\u01b0\u1ee3c cho ph\u00e9p theo ti\u00eau chu\u1ea9n k\u1ebf to\u00e1n, nh\u01b0ng v\u1eabn c\u00f3 m\u1ed9t s\u1ed1 qui t\u1eafc chi ph\u1ed1i c\u00e1ch s\u1eed d\u1ee5ng.<\/p>\n

Vi\u1ec7c s\u1eed d\u1ee5ng h\u00ecnh th\u1ee9c n\u00e0y l\u00e0m ph\u1ee9c t\u1ea1p ph\u00e2n t\u00edch c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1ec1 t\u00ecnh h\u00ecnh t\u00e0i ch\u00ednh c\u1ee7a c\u00f4ng ty. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n \u0111\u1ecdc b\u00e1o c\u00e1o t\u00e0i ch\u00ednh \u0111\u1ea7y \u0111\u1ee7, v\u00e0 t\u00ecm ki\u1ebfm c\u00e1c d\u1ea5u hi\u1ec7u s\u1eed d\u1ee5ng t\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i. M\u1ed9t s\u1ed1 d\u1ea5u hi\u1ec7u bao g\u1ed3m c\u00e1c thu\u1eadt ng\u1eef nh\u01b0 quan h\u1ec7 \u0111\u1ed1i t\u00e1c, chi ph\u00ed thu\u00ea ho\u1eb7c cho thu\u00ea.<\/p>\n

(Theo Investopedia<\/i> <\/b>v\u00e0 Study)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n T\u00e0i tr\u1ee3 ngo\u00e0i b\u1ea3ng c\u00e2n \u0111\u1ed1i (ti\u1ebfng Anh: Off-Balance Sheet Financing) l\u00e0 m\u1ed9t th\u00f4ng l\u1ec7 k\u1ebf to\u00e1n ghi l\u1ea1i t\u00e0i s\u1ea3n v\u00e0 n\u1ee3 ph\u1ea3i tr\u1ea3, m\u00e0 kh\u00f4ng hi\u1ec3n th\u1ecb tr\u00ean b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[419],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/8395"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=8395"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/8395\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=8395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=8395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=8395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}