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在1994年会计师资格甲种考试中,有一道关于内含报酬率计算的试题,大多数考生答得并不理想。主要原因有:(1)内含报酬率比较抽象,不易理解;(2)在实际工作中,会计人员不经常使用内含报酬率,对它比较生疏。笔者在学习和工作中曾几次涉及到内含报酬率,认为利用直角座标图和相似三角形来理解和计算它较为直观和形象。本文试就解题思路作一介绍,以供参考。计算内含报酬率,首先要正确理解其定义和实质。内含报酬率(IRR)是指一项长期投资方案在其寿命周期内按现值计算的实际投资报酬率。它实质是一种使该投资方案的净现值等于零的报酬率,也可以用公式表示为:净现值(NPV)=未来报酬总现值-投资额现值=0,求其折现率。
In a 1994 accountant qualification exam, there is a calculation of the internal rate of return test questions, most candidates answer is not satisfactory. The main reasons are: (1) the intrinsic rate of return is more abstract and difficult to understand; (2) in practice, accountants do not often use the internal rate of return, it is more unfamiliar. I have been involved in learning and work several times the intrinsic rate of return, that the use of rectangular coordinates and similar triangles to understand and calculate it more intuitive and image. This article try to solve the problem of making an introduction for reference. To calculate the internal rate of return, we must first correctly understand its definition and substance. Return on Investment (IRR) is the actual rate of return on a long-term investment solution over its useful life at its present value. It is essentially a rate of return that equates the net present value of the investment to zero, which can also be expressed as: Net present value (NPV) = Total present value of future returns - present value of investment = 0, discount rate .