تعتبر مهمة توفير الاموال للشركات من

تعتبر مهمة توفير الاموال للشركات من المهام الصعبة , خاصة في ظل ندرة هذه الاموال وتفاوت درجة تكلفتها و المخاطر المصحوبة بكل مصدر من مصادر التمويل , وتزداد هذه المهمة صعوبة امام الشركات في الدول الاقل تقدما واكثر اضطرابا كفلسطين , ومن القرارات المتعلقة بمهمة توفير الاموال تحديد مصدر التمويل وتحديد نسبة التمويل من كل مصدر حيث تنقسم مصادر التمويل الى قسمين رئيسين الاول : التمويل بالملكية مثل الاسهم وهذا يرفع من معدل العائد على الاستثمار والثاني التمويل بالقروض وينتج عنه ما يسمى بالرافعة المالية . حيث تعرف الرافعة المالية بانها مجموع الالتزامات على اجمالي الاصول وبالرغم من وجود مزايا للرافعة المالية لما تحققه من وفر ضريبي خيث ان تكلفة الفوائد تخصم من وعاء الارباح الخاضع للضريبة وكذلك اذا كانت تكلفة هذه الديون اقل من تكلفة حقوق الملكية مما يجعلها مصدرا مفضلا للتمويل اكثر من غيره من المصادر الا ان زيادة الاعتماد على الاموال المقترضة دون ان تكون هناك كفاءة في استخدامها يعرض الشركة الى عواقب وخيمة خاصة اذا فاقت تكلفة هذه الاموال العائد المتوقع وكما هو معروف ان القروض تحمل تكلفة ثابتة مما يؤثر على الارباح التي يحصل عليها الملاك كما تؤثر على درجة المخاطرة اي بمعنى اخر ان قرار التمويل يؤثر على نتائج الاستثمار وبتالي على اداء الشركات

النتائج (الإنجليزية) 1:

Are providing funds to companies from challenging tasks, especially in light of the scarcity of funds and the varying degree of cost and risk with each source of funding, the task is difficult for firms in least developed countries and the more troublesome, such as Palestine, and decisions concerning important provide funds identify funding source and determine the proportion of funding from each source so funding sources are divided into two first Presidents : Finance property such as stocks and the raising of the rate of return on investment and the second funding loans and produces what is called leverage. Where the leverage as the total liabilities to total assets although there are advantages to leverage their tax saving where it requires the cost of benefits deducted from taxable profit pot as well as if the cost of such debt is less than the cost of property rights, making it a preferred source of financing than other sources however, increasing reliance on borrowed money without that there will be efficient in use displays the company to serious consequences, especially if cost of these funds exceeded the expected return as It is known that the loans carry a fixed cost that affect profits earned by proprietors also affect the degree of risk which in other words that the financing decision affects investment results and following the performance

النتائج (الإنجليزية) 2:

It is the task of providing funds to companies from difficult tasks, especially in light of the scarcity of the money and the varying degree of cost and accompanied by all the source of funding risks, and increase the difficulty of the task in front of companies in less-developed countries and more troublesome such as Palestine, and decisions related to the task of providing the funds to identify the source of funding and determining the proportion of funding from each source where funding sources are divided into two main sections first: finance property such as stocks and this raises the rate of return on investment and funding loans and the second resulting in a so-called leveraged. Where the leverage is defined as total liabilities to total assets, and despite the existence of the advantages of leverage of its own provided tax Khat that the cost of benefits shall be deducted from the pot profits taxable as well as whether the cost of this debt is less than the cost of property rights, making it the preferred source of financing more than others of sources, but the increased reliance on borrowed money without having to be efficient in their use presents the company to a private dire consequences if more than the cost of the money expected return is also known that the loans carry a fixed cost which affects the profits earned by landlords also affect the degree of risk In other words, any funding decision that affects the investment results and by following the performance of companies

النتائج (الإنجليزية) 3:

Is the task of providing money to companies of difficult tasks, given the rarity of this money, and varying degrees of cost and risks associated with each source of funding,The task becomes even more difficult in front companies in the least developed countries, more troublesome, such as Palestine,And decisions relating to the task of providing money to determine the source of funding and funding ratio of each source is divided into two main sources of funding first.Property financing, such as stocks, which raises the rate of return on investment second, loan financing, resulting in the so-called financial leverage.In terms of financial leverage may be defined as the total liabilities to total assets despite the financial benefits for their savings where tax interest cost is deducted from the pot taxable profits, as well as if the cost of this debt.The cost of property rights, making it a preferred source of financing than other sources except that greater reliance on borrowed money without having to be efficiently used. Introduce the company have serious consequences, especially if exceeded the cost of moneyIs expected that the loan is also known as bear fixed cost which affects the profits obtained by the owners and the influence degree of risk which in other words, financing decision. The results of investment affects the corporate performance.