1. Cu 1: V sao chn Phng n m php nhn mi ch khng u t vo MSN?

Theo xut, Cott s u t vo d n nc p tri cy Max-Fruit ca Massan. C th, mi bn

gp vn 50% v mt nh my mi s c xy dng ti Bnh Thun phc v sn xut. Nh
my ny thuc quyn s hu ca Massan, v n khng c coi l mt php nhn bi theo iu
84 b lut Dn s, php nhn cn c ti sn c lp vi c nhn, t chc khc. Hn na, Cott
khng c xut m thm chi nhnh hay cng ty con no ti Vit Nam. Nh vy, c th ni,
Cott s u t sang Massan, ch khng i theo phng php m php nhn mi.
2. Cu 2: Phng php cn c tnh sales (trang 9), sheet sales trong bng tnh Excel
Sn phm Max fruit s c phn phi ch yu ti th trng trong nc v xut khu 1 phn.
Vy nn doanh thu s bao gm doanh thu ni a v doanh thu xut khu:

Sn lng ni a (domestic volume):

Theo Bo co Fruit/vegetable Juice Vietnam ca Euromonitor 2011, d bo sn
lng nc hoa qu ti Vit Nam nm 2014 l 32,471 nghn lt v tc tng trng
trung bnh l 15%/nm.
Vi d n Max fruit, nhm d bo market share ca d n trong nm u tin bt u sn
xut (2015) chim 5% tng dung lng th trng c nc, sau tng dn n nm
2014 s t 15% th trng nc Vit Nam. T , chng ta c c sn lng d bo
ca d n nh sau:
Tng sn lng
Sn lng ca
% of Max
th trng
d n (nghn lt)
fruit
(nghn lt)
2014

32,471

2015

37,341.65

2016

42,942.90

2%

746.83

3%

1,288.29

2017

49,384.33

5%

2,469.22

....
2023

.
114,228.96

...
15%

2024

151,067.80

15%

....
17,134.34
22,660.17

Sn lng xut khu (export volume):

Do xut khu ch chim lng nh v do mi bt u tung ra th trng nn nhm d bo sn

lng xut khu ch chim 5% tng s sn phm nm 2015, v sau tng dn n nm
2014 s chim 50% tng sn lng. C th sn lng xut khu cc nm c minh ha
trong bng sau:

Sn lng
xut khu
(nghn lt)

% Tng sn lng
2015

5%

39.307

2016

5%

67.80

20%

4,926.12

2024

Tng sn lng = Sn lng ni a + Sn lng xut khu

T ta tnh c tng sn lng v doanh thu ( vi mc gi trung bnh l 70,000
VN/l) ca d n trong 10 nm nh bng sau:
2015

Tng sn
786.14
lng
(nghn lt)
Tng
doanh thu 55.029
(t VND)

2016

2017

2018 2019

2020

2021

2022

1,356

2,744

4,417

6,147

8,837

12,956

14,899 21,418 24,631

94.92

192.05 309.2

430.28

618.53

906.92 1042.96 1499.25 1724.14

2023

2024

3. Cu 3: Phng php, cn c tnh Net income (p10), sheet NI trong file excel
Sau qu trnh kim tra v check li bi, nhm em pht hin ra mt s sai st trong
phn tnh net income. V vy chng em thng nht sa li phng thc tnh Net income
nh sau ( sa li s liu trong pitchbook v file excel gi km).
- Gi vn: = 65% Doanh thu.
T l ly theo trung bnh mt s d n nc gii kht tng t ca cng ty trong ngnh.
- Chi ph khu hao: TSC c tnh theo sheet Fixed Investment
- Chi ph li vay: 8.5%/nm, tnh da trn tng n ngn hn v di hn.
- Thu: ly 20% theo l trnh ct gim thu.
- T tnh c Net income nh trong bng sau y:

INCOME STATEMENT OF PROJECT

2015

2016

2017

2018

Sales

55.03

94.93

192.05

309.20

COGS

35.77

61.70

124.83

Gross profit

19.26

33.22

Depreciation 67.82 67.82

Interest
49.61 44.65
expenses
NI beforetax -98.17 -79.25
Tax exp
NI after tax

(19.6) (15.8)
78.54

63.40

2021

2022

2023

2024

430.28 618.53

906.92

1,042.96

1,499.26

1,724.14

200.98

279.68 402.05

589.50

677.92

974.52

1,120.69

67.22

108.22

150.60 216.49

317.42

365.04

524.74

603.45

67.82

67.82

67.82

67.82

67.82

67.82

67.82

67.82

39.69

34.73

29.77

24.81

19.84

14.88

9.92

4.96

-40.29

5.67

53.01

123.86

229.75

282.33

446.99

530.67

(8.1)

1.1

10.6

24.8

46.0

56.5

89.4

106.1

42.41

99.09

225.86

357.59

424.53

-32.24

4.54

2019

2020

183.80