{"text_format":"1","workbook":"xlsx","n_sheets":15,"sheets":["Lernkonzept","Disclaimer","Menü und Doku","Executive Summary","Annahmen Stat. Invest.rechn. ","Annahmen Dyn. Invest.rechnung","Kostenvergleichsrechnung","Gewinnvergleichsrechnung ","Rentabilitätsrechnung","Stat. Amortisationsrechnung ","Vergleich (1)","Kapitalwertmethode","Interne Zinssatzmethode","Annuitätenmethode","Vergleich (2)"],"not_rendered":{"charts":5,"images":4,"macros":1,"external_links":2,"defined_names":277,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Lernkonzept","index":0,"n_rows":19,"n_cols":3,"rows_kept":19,"cut":false,"hidden":false,"merged":[]}
[null," "]
[null,null,"Unser Lernkonzept"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,"Teilnehmende der Certified Financial Modeler (CFM) erhalten die kompletten Modelle."]
[]
[null,null,"Mehr Informationen zum Certified Financial Modeler (CFM) finden Sie unter: www.certified-financial-modeler.de"]
[]
[null,null,"Der Certified Financial Modeler (CFM)  ist auch Teil unseres MBA Applied Quantitative Finance: www.hfwu.de/qfx"]

{"sheet":"Disclaimer","index":1,"n_rows":29,"n_cols":3,"rows_kept":29,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Disclaimer"]
[]
[]
[null,"1. Wer ist der Urheber der vorliegenden Modelle? "]
[null,"Die vorliegende Excel-Modelle wurden von den beiden Direktoren des European Institute of Quantitative Finance (EIQF) \n„Prof. Dr. Dr. Joachim Häcker“ und „Prof. Dr. Dr. Dietmar Ernst“ erstellt."]
[]
[null,"Das "]
[]
[]
[]
[]
[null,"ist ein An-Institut der Hochschule Nürtingen. "]
[]
[null,null,"Teilnehmende der Certified Financial Modeler (CFM) erhalten die kompletten Modelle."]
[]
[]
[]
[null,"Das EIQF vergibt in Kooperation mit der "]
[]
[]
[]
[]
[null,"den Titel „Certified Financial Modeler\"."]
[]
[]
[null,"2. Sind die vorliegenden Modelle durch das Urheberrechtsgesetz geschützt? "]
[]
[null,"Gemäß § 1  UrhG (Gesetz über Urheberrecht und verwandte Schutzrechte (Urheberrechtsgesetz)) genießen die Urheber von Werken der  Wissenschaft für ihre Werke Schutz nach Maßgabe dieses Gesetzes. Gemäß § 2 Abs. 2 UrhG liegt ein Werk dann vor, wenn es sich um eine persönlich-geistige Schöpfung handelt. Auf Software, wie die hier vorliegende Excrel-Modelle, ist der § 69a UrhG anwendbar. Damit ist auf Software das Urheberrecht anwendbar. Jedes Computerprogramm, das statistisch einmalig ist, ist geschützt. All diese Anforderungen treffen auf die vorliegenden Excel-Modelle zu und somit sind die vorliegenden Excel-Modelle durch das Urheberrechtsgesetz geschützt."]

{"sheet":"Menü und Doku","index":2,"n_rows":35,"n_cols":7,"rows_kept":35,"cut":false,"hidden":false,"merged":[[18,6,20,6],[22,6,24,6],[1,4,1,7],[3,1,4,1],[8,6,10,6],[12,6,13,6],[15,6,17,6]]}
[]
[null,"Menü",null,null,"Dokumentation"]
[null,"Dieses Modul enthält folgende Praxisbeispiele:","Farbe der",null,null,"Projektname:","Modul: Investition und Finanzierung - Teil Investition"]
[null,"(Drücken Sie mit der Maus auf den Hyperlink der Überschrift, um direkt zu dem Tabellenblatt zu gelangen.)","Tabellen-blätter:",null,null,"Financial Modeler:","Das Team vom Buch Financial Modeling"]
[null,null,null,null,null,"Dateiname:","Investition"]
[null,"Executive Summary",null,null,null,"Letzte Änderung:","Juni 2015"]
[null,"Annahmen Stat. Invest.rechn.",null,null,null,"Inhalte der Änderung:","Erstellung der finalen Version"]
[null,"Annahmen Dyn. Invest.rechnung"]
[null,null,null,null,null,"Aufgabe und Ziel:","Diese Datei enthält die Praxisbeispiele aus dem Modul Investition und Finanzierung für den Teil Investition.  Der Aufbau der Excel-Datei entspricht dem allgemeinen Prozess für die Durchführung einer Investitionsrechnung."]
[null,"Statische Investitionsrechnung"]
[null,"Kostenvergleichsrechnung"]
[null,"Gewinnvergleichsrechnung"]
[null,"Rentabilitätsrechnung",null,null,null,null,"Alle Berechnungen erfolgen direkt in Excel, um die Nachvollziehbarkeit der Berechnung zu ermöglichen."]
[null,"Stat. Amortisationsrechnung"]
[null,"Vergleich (1)"]
[null,null,null,null,null,"Bedienungsanleitung:","Nutzen Sie die Financial Models parallel zum Text. Die einzelnen Lernschritte sind in kleinen Einheiten auf separaten Tabellenblättern aufgeteilt."]
[null,"Dynamische Investitionsrechnung"]
[null,"Kapitalwertmethode",null,null,null,null,"Um alle Elemente des Financial Models verwenden zu können, aktivieren Sie bitte die Makros über den Auswahlpunkt Optionen. Ausführliche Informationen finden Sie in dem Zellenkommentar."]
[null,"Interne Zinssatzmethode",null,null,null,"Makros aktivieren:","Um alle Elemente des Financial Models verwenden zu können, aktivieren Sie bitte die Makros über dem Auswahlpunkt Optionen. Ausführliche Informationen finden Sie in dem Zellenkommentar."]
[null,"Annuitätenmethode"]
[null,"Vergleich (2)"]
[]
[null,null,null,null,null,"Iteration aktivieren:","Zusätzlich aktivieren Sie bitte den iterativen Berechnungsmodus über die  Office-Schaltfläche Ü Excel-Optionen Ü Formeln Ü Berechnungsoptionen."]
[]
[]
[]
[null,null,null,null,null,"Konventionen der Farbwahl:","Input Zellen"]
[null,null,null,null,null,null,"Berechnungen und Ausgaben: Grau"]
[null,null,null,null,null,null,"Gemischte Zellen (Formeln mit festen Zahlenwerten und Zellbezügen) "]
[]
[]
[]
[]
[]
[null,"Copyright:"]

{"sheet":"Executive Summary","index":3,"n_rows":26,"n_cols":6,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,2,22,2],[21,3,22,3],[21,4,22,4],[21,5,22,5]]}
[]
[null,"Statische Investitionsrechnung"]
[]
[]
[null,"Verfahren","Maschine 1","Maschine 2","Entscheidung"]
[]
[null,"Kostenvergleichsrechnung",{"$f":"'Vergleich (1)'!C7","v":0},{"$f":"'Vergleich (1)'!D7","v":0},{"$f":"'Vergleich (1)'!E7","v":0}]
[null,"Gewinnvergleichsrechnung",{"$f":"'Vergleich (1)'!C8","v":0},{"$f":"'Vergleich (1)'!D8","v":0},{"$f":"'Vergleich (1)'!E8","v":0}]
[null,"Rentabilitätsvergleichsrechnung",{"$f":"'Vergleich (1)'!C9","v":0},{"$f":"'Vergleich (1)'!D9","v":0},{"$f":"'Vergleich (1)'!E9","v":0}]
[null,"Statische Amortisationsrechnung",{"$f":"'Vergleich (1)'!C10","v":0},{"$f":"'Vergleich (1)'!D10","v":0},{"$f":"'Vergleich (1)'!E10","v":0}]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Dynamische Investitionsrechnung"]
[]
[]
[null,"  Investitionen unterschiedlicher","Investition A","Investition B","Investition C","Entscheidung"]
[null,"  Höhe und Nutzungsdauer"]
[null,"  Kapitalwert",{"$f":"'Vergleich (2)'!C7","v":40.796393688955618},{"$f":"'Vergleich (2)'!D7","v":29.752066115702462},{"$f":"'Vergleich (2)'!E7","v":24.342599549211116},{"$f":"'Vergleich (2)'!F7","v":"Investition A"}]
[null,"  Interner Zins",{"$f":"'Vergleich (2)'!C8","v":0.19437709962747851},{"$f":"'Vergleich (2)'!D8","v":0.31046863561492688},{"$f":"'Vergleich (2)'!E8","v":0.23375192852825655},{"$f":"'Vergleich (2)'!F8","v":"Investition B"}]
[null,"  Annuität",{"$f":"'Vergleich (2)'!C9","v":16.404833836857989},{"$f":"'Vergleich (2)'!D9","v":11.963746223564952},{"$f":"'Vergleich (2)'!E9","v":9.7885196374622367},{"$f":"'Vergleich (2)'!F9","v":"Investition A"}]

{"sheet":"Annahmen Stat. Invest.rechn. ","index":4,"n_rows":60,"n_cols":6,"rows_kept":60,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Annahmen Investitionsobjekt"]
[]
[null,"Ausgangsdaten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"  Anschaffungskosten abnutzbarer Anlagegüter (in €)",null,null,100000,70000]
[]
[null,"  Nutzungsdauer der Anlage (in Jahren)",null,null,5,5]
[]
[null,"  Restwert der Anlage (in €)",null,null,10000,5000]
[]
[null,"  Anschaffungskosten nicht abnutzbarer Anlagegüter (in €)",null,null,12500,9000]
[]
[null,"  Planbeschäftigung (Stück pro Jahr)",null,null,20000,20000]
[]
[null,"  Verkaufserlös pro Stück (in €)",null,null,4.2,4.3]
[]
[null,"  Fixkosten ohne Kapitalkosten (in €)",null,null,7500,5000]
[]
[null,"  Kalkulationszinssatz (% p.a.)",null,null,0.1,0.1]
[]
[null,"  Löhne und Lohnnebenkosten (€/Stück)",null,null,0.8,1.2]
[]
[null,"  Roh-, Hilfs- und Betriebsstoffe (€/Stück) ",null,null,0.2,0.2]
[]
[null,"  Sonstige variable Kosten (€/Stück) ",null,null,0.1,0.3]
[]
[]
[null,"Planbe-\nschäftigung"]
[null,0]
[null,1000]
[null,2000]
[null,3000]
[null,4000]
[null,5000]
[null,6000]
[null,7000]
[null,8000]
[null,9000]
[null,10000]
[null,11000]
[null,12000]
[null,13000]
[null,14000]
[null,15000]
[null,16000]
[null,17000]
[null,18000]
[null,19000]
[null,20000]
[null,21000]
[null,22000]
[null,23000]
[null,24000]
[null,25000]
[null,26000]
[null,27000]
[null,28000]
[null,29000]
[null,30000]

{"sheet":"Annahmen Dyn. Invest.rechnung","index":5,"n_rows":25,"n_cols":10,"rows_kept":25,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Projekt Annahmen"]
[null,null,null,null,"t0","t1","t2","t3","t4","t5"]
[null,"  Jahr",null,null,0,{"$f":"E4+1","v":1},{"$f":"F4+1","v":2},3,4,5]
[null,"  Investition Anlagevermögen",null,null,1200]
[null,"  Restwert der Anlage am Ende des 5. Jahres (in Tsd. €)",null,null,null,null,null,null,null,200]
[null,"  Nutzungsdauer der Anlage (Jahre)",null,null,5]
[null,"  Investition in Roh-, Hilfs- und Betriebsstoffe (in Tsd. €)",null,null,300]
[null,"  Absatzvolumen",null,null,500,600,600,600,600,600]
[null,"  Verkaufspreis pro LE (€/LE)",null,null,null,5,5,5,5,5]
[null,"  Variable Auszahlungen pro LE (€/LE)",null,null,null,3,3,3,3,3]
[null,"  Fixe Auszahlungen ohne Abschreibung (in Tsd. €)",null,null,null,500,500,500,500,500]
[null,"  Abschreibung, linear über die Nutzungsdauer (in Tsd. €)",null,null,null,{"$f":"($E$5-$J$6)/$E$7","v":200},{"$f":"($E$5-$J$6)/$E$7","v":200},{"$f":"($E$5-$J$6)/$E$7","v":200},{"$f":"($E$5-$J$6)/$E$7","v":200},{"$f":"($E$5-$J$6)/$E$7","v":200}]
[null,"  Kalkulationszinssatz (% p.a.)",null,null,0.1,0.1,0.1,0.1,0.1,0.1]
[null,"  Steuersatz (%)",null,null,null,0.4,0.4,0.4,0.4,0.4]
[]
[]
[]
[null,"  Investitionen unterschiedlicher Höhe und Nutzungsdauer"]
[null,null,null,null,"t0","t1","t2","t3"]
[null,"  Jahr",null,null,0,1,2,3]
[null,"  Investition A",null,null,-200,50,100,150]
[null,"  Investition B ",null,null,-100,70,80]
[null,"  Investition C ",null,null,-100,50,50,50]
[null,"  Kalkulationszinssatz",null,null,0.1]

{"sheet":"Kostenvergleichsrechnung","index":6,"n_rows":89,"n_cols":6,"rows_kept":89,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Kostenvergleichsrechnung"]
[]
[]
[null,"Ausgangsdaten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Anschaffungskosten abnutzbarer Anlagegüter ",null,null,{"$f":"'Annahmen Stat. Invest.rechn. '!E6","v":100000},{"$f":"'Annahmen Stat. Invest.rechn. '!F6","v":70000}]
[null,"Nutzungsdauer der Anlage (in Jahren)",null,null,{"$f":"'Annahmen Stat. Invest.rechn. '!E8","v":5},{"$f":"'Annahmen Stat. Invest.rechn. '!F8","v":5}]
[null,"Restwert der Anlage ",null,null,{"$f":"'Annahmen Stat. Invest.rechn. '!E10","v":10000},{"$f":"'Annahmen Stat. Invest.rechn. '!F10","v":5000}]
[null,"Anschaffungskosten nicht abnutzbarer Anlagegüter ",null,null,{"$f":"'Annahmen Stat. Invest.rechn. '!E12","v":12500},{"$f":"'Annahmen Stat. Invest.rechn. '!F12","v":9000}]
[null,"Durchschnittlich gebundenes Kapital ",null,null,{"$f":"E10+E9+(E7-E9)/2","v":67500},{"$f":"F10+F9+(F7-F9)/2","v":46500}]
[null,"Planbeschäftigung (Stück pro Jahr)",null,null,{"$f":"'Annahmen Stat. Invest.rechn. '!E14","v":20000},{"$f":"'Annahmen Stat. Invest.rechn. '!F14","v":20000}]
[null,"Fixkosten ohne Kapitalkosten ",null,null,{"$f":"'Annahmen Stat. Invest.rechn. '!E18","v":7500},{"$f":"'Annahmen Stat. Invest.rechn. '!F18","v":5000}]
[null,"Kalkulationszinssatz (% p.a.)",null,null,{"$f":"'Annahmen Stat. Invest.rechn. '!E20","v":0.1},{"$f":"'Annahmen Stat. Invest.rechn. '!F20","v":0.1}]
[null,"Löhne und Lohnnebenkosten (€/Stück)",null,null,{"$f":"'Annahmen Stat. Invest.rechn. '!E22","v":0.8},{"$f":"'Annahmen Stat. Invest.rechn. '!F22","v":1.2}]
[null,"Roh-, Hilfs- und Betriebsstoffe (€/Stück) ",null,null,{"$f":"'Annahmen Stat. Invest.rechn. '!E24","v":0.2},{"$f":"'Annahmen Stat. Invest.rechn. '!F24","v":0.2}]
[null,"Sonstige variable Kosten (€/Stück) ",null,null,{"$f":"'Annahmen Stat. Invest.rechn. '!E26","v":0.1},{"$f":"'Annahmen Stat. Invest.rechn. '!F26","v":0.3}]
[]
[null,"Fixe Kosten und Kapitalkosten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Fixe Kosten ohne Kapitalkosten ",null,null,{"$f":"E13","v":7500},{"$f":"F13","v":5000}]
[null,"Abschreibung  ",null,null,{"$f":"(E7-E9)/E8","v":18000},{"$f":"(F7-F9)/F8","v":13000}]
[null,"Kalkulatorische Zinsen ",null,null,{"$f":"E11*E14","v":6750},{"$f":"F11*F14","v":4650}]
[]
[null,"Summe fixe Kosten ",null,null,{"$f":"E21+E22+E23","v":32250},{"$f":"F21+F22+F23","v":22650}]
[]
[null,"Variable Kosten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Löhne und Lohnnebenkosten ",null,null,{"$f":"E12*E15","v":16000},{"$f":"F12*F15","v":24000}]
[null,"Roh-, Hilfs- und Betriebsstoffe ",null,null,{"$f":"E12*E16","v":4000},{"$f":"F12*F16","v":4000}]
[null,"Sonstige variable Kosten ",null,null,{"$f":"E12*E17","v":2000},{"$f":"F12*F17","v":6000}]
[]
[null,"Summe variable Kosten",null,null,{"$f":"E29+E30+E31","v":22000},{"$f":"F29+F30+F31","v":34000}]
[]
[null,"Gesamtkosten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Gesamtkosten ",null,null,{"$f":"E25+E33","v":54250},{"$f":"F25+F33","v":56650}]
[null,"Stückkosten ",null,null,{"$f":"E37/E12","v":2.7124999999999999},{"$f":"F37/F12","v":2.8325}]
[]
[null,"Ergebnis der Kostenvergleichsrechnung",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Entscheidungskriterium: Alternative mit den geringeren \n"]
[null,"Gesamtkosten "]
[null,"Stückkosten "]
[null,"Entscheidung "]
[]
[]
[null,"Ermittlung der kritischen Beschäftigung durch Gesamtkostenvergleich"]
[]
[null,null,null,null,"Maschine 1","Maschine 2"]
[]
[null,"Gesamtkosten "]
[null,"Stückkosten "]
[]
[null,"Kritische Beschäftigung"]
[]
[]
[null,null,null,"Planbe-\nschäftigung","Gesamtkosten\nMaschine 1","Gesamtkosten\nMaschine 2"]
[null,null,null,0]
[null,null,null,1000]
[null,null,null,{"$f":"D60+$D$60","v":2000}]
[null,null,null,{"$f":"D61+$D$60","v":3000}]
[null,null,null,4000]
[null,null,null,5000]
[null,null,null,6000]
[null,null,null,7000]
[null,null,null,8000]
[null,null,null,9000]
[null,null,null,10000]
[null,null,null,11000]
[null,null,null,12000]
[null,null,null,13000]
[null,null,null,14000]
[null,null,null,15000]
[null,null,null,16000]
[null,null,null,17000]
[null,null,null,18000]
[null,null,null,19000]
[null,null,null,20000]
[null,null,null,21000]
[null,null,null,22000]
[null,null,null,23000]
[null,null,null,24000]
[null,null,null,25000]
[null,null,null,26000]
[null,null,null,27000]
[null,null,null,28000]
[null,null,null,29000]
[null,null,null,30000]

{"sheet":"Gewinnvergleichsrechnung ","index":7,"n_rows":96,"n_cols":6,"rows_kept":96,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Gewinnvergleichsrechnung"]
[]
[]
[null,"Ausgangsdaten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Anschaffungskosten abnutzbarer Anlagegüter "]
[null,"Nutzungsdauer der Anlage (in Jahren)"]
[null,"Restwert der Anlage "]
[null,"Anschaffungskosten nicht abnutzbarer Anlagegüter "]
[null,"Durchschnittlich gebundenes Kapital "]
[null,"Planbeschäftigung (Stück pro Jahr)"]
[null,"Verkaufserlös pro Stück (in €)"]
[null,"Fixkosten ohne Kapitalkosten "]
[null,"Kalkulationszinssatz (% p.a.)"]
[null,"Löhne und Lohnnebenkosten (€/Stück)"]
[null,"Roh-, Hilfs- und Betriebsstoffe (€/Stück) "]
[null,"Sonstige variable Kosten (€/Stück) "]
[]
[null,"Fixe Kosten und Kapitalkosten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Fixe Kosten ohne Kapitalkosten "]
[null,"Abschreibung  "]
[null,"Kalkulatorische Zinsen "]
[]
[null,"Summe fixe Kosten "]
[]
[null,"Variable Kosten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Löhne und Lohnnebenkosten "]
[null,"Roh-, Hilfs- und Betriebsstoffe "]
[null,"Sonstige variable Kosten "]
[]
[null,"Summe variable Kosten"]
[]
[null,"Verkaufserlöse",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Verkaufserlöse "]
[]
[null,"Gewinn",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Gesamtgewinn = Erlös - gesamte Kosten"]
[null,"Stückgewinn = Gewinn/Planbeschäftigung"]
[]
[null,"Ergebnis",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Entscheidungskriterium: Alternative mit dem "]
[null,"höheren Gesamtgewinn "]
[null,"höheren Stückgewinn "]
[null,"Entscheidung "]
[]
[]
[null,"Ermittlung der kritischen Beschäftigung durch Gewinnvergleich"]
[]
[null,null,null,null,"Maschine 1","Maschine 2"]
[]
[null,"Fixkosten ",null,null,{"$f":"E26","v":0},{"$f":"F26","v":0}]
[null,"Erlös pro Stück ",null,null,{"$f":"E13","v":0},{"$f":"F13","v":0}]
[null,"Variable Stückkosten ",null,null,{"$f":"E34/E12","v":{"$error":"#DIV/0!"}},{"$f":"F34/F12","v":{"$error":"#DIV/0!"}}]
[null,"Erlös pro Stück minus variable Stückkosten ",null,null,{"$f":"E58-E59","v":{"$error":"#DIV/0!"}},{"$f":"F58-F59","v":{"$error":"#DIV/0!"}}]
[]
[null,"Kritische Beschäftigung",null,null,{"$f":"(E57-F57)/(E60-F60)","v":{"$error":"#DIV/0!"}}]
[]
[]
[null,null,null,"Planbe-\nschäftigung","Gesamtgewinn\n Maschine 1","Gesamtgewinn \nMaschine 2"]
[null,null,null,0]
[null,null,null,1000]
[null,null,null,2000]
[null,null,null,3000]
[null,null,null,4000]
[null,null,null,5000]
[null,null,null,6000]
[null,null,null,7000]
[null,null,null,8000]
[null,null,null,9000]
[null,null,null,10000]
[null,null,null,11000]
[null,null,null,12000]
[null,null,null,13000]
[null,null,null,14000]
[null,null,null,15000]
[null,null,null,16000]
[null,null,null,17000]
[null,null,null,18000]
[null,null,null,19000]
[null,null,null,20000]
[null,null,null,21000]
[null,null,null,22000]
[null,null,null,23000]
[null,null,null,24000]
[null,null,null,25000]
[null,null,null,26000]
[null,null,null,27000]
[null,null,null,28000]
[null,null,null,29000]
[null,null,null,30000]

{"sheet":"Rentabilitätsrechnung","index":8,"n_rows":52,"n_cols":6,"rows_kept":52,"cut":false,"hidden":false,"merged":[[50,1,50,3],[46,1,46,3]]}
[]
[null,"Rentabilitätsrechnung"]
[]
[]
[null,"Ausgangsdaten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Anschaffungskosten abnutzbarer Anlagegüter "]
[null,"Nutzungsdauer der Anlage (in Jahren)"]
[null,"Restwert der Anlage "]
[null,"Anschaffungskosten nicht abnutzbarer Anlagegüter "]
[null,"Durchschnittlich gebundenes Kapital "]
[null,"Planbeschäftigung (Stück pro Jahr)"]
[null,"Verkaufserlös pro Stück (Euro)"]
[null,"Fixkosten ohne Kapitalkosten "]
[null,"Kalkulationszinssatz (% p.a.)"]
[null,"Löhne und Lohnnebenkosten (€/Stück)"]
[null,"Roh-, Hilfs- und Betriebsstoffe (€/Stück) "]
[null,"Sonstige variable Kosten (€/Stück) "]
[]
[null,"Fixe Kosten und Kapitalkosten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Fixe Kosten ohne Kapitalkosten "]
[null,"Abschreibung  "]
[null,"Kalkulatorische Zinsen "]
[]
[null,"Summe fixe Kosten "]
[]
[null,"Variable Kosten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Löhne und Lohnnebenkosten "]
[null,"Roh-, Hilfs- und Betriebsstoffe "]
[null,"Sonstige variable Kosten "]
[]
[null,"Summe variable Kosten"]
[]
[null,"Verkaufserlöse",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Verkaufserlöse "]
[]
[null,"Gewinn",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Gesamtgewinn = Erlös - gesamte Kosten"]
[null,"Gewinn vor Zinsen = Gewinn + Zinsen"]
[]
[null,"Gesamtrentabilität",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Gesamtkapitalrentabilität  = Gewinn vor Zinsen/\ndurchschnittlich gebundenes Kapital"]
[]
[null,"Ergebnis",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Gesamtkapitalrentabilität  = Gewinn vor Zinsen/\ndurchschnittlich gebundenes Kapital"]
[null,"Entscheidung "]

{"sheet":"Stat. Amortisationsrechnung ","index":9,"n_rows":52,"n_cols":6,"rows_kept":52,"cut":false,"hidden":false,"merged":[[46,1,46,3],[50,1,50,3]]}
[]
[null,"Statische Amortisationsrechnung"]
[]
[]
[null,"Ausgangsdaten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Anschaffungskosten abnutzbarer Anlagegüter "]
[null,"Nutzungsdauer der Anlage (in Jahren)"]
[null,"Restwert der Anlage "]
[null,"Anschaffungskosten nicht abnutzbarer Anlagegüter "]
[null,"Durchschnittlich gebundenes Kapital "]
[null,"Planbeschäftigung (Stück pro Jahr)"]
[null,"Verkaufserlös pro Stück (Euro)"]
[null,"Fixkosten ohne Kapitalkosten "]
[null,"Kalkulationszinssatz (% p.a.)"]
[null,"Löhne und Lohnnebenkosten (€/Stück)"]
[null,"Roh-, Hilfs- und Betriebsstoffe (€/Stück) "]
[null,"Sonstige variable Kosten (€/Stück) "]
[]
[null,"Fixe Kosten und Kapitalkosten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Fixe Kosten ohne Kapitalkosten "]
[null,"Abschreibung  "]
[null,"Kalkulatorische Zinsen "]
[]
[null,"Summe fixe Kosten "]
[]
[null,"Variable Kosten",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Löhne und Lohnnebenkosten "]
[null,"Roh-, Hilfs- und Betriebsstoffe "]
[null,"Sonstige variable Kosten "]
[]
[null,"Summe variable Kosten"]
[]
[null,"Verkaufserlöse",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Verkaufserlöse "]
[]
[null,"Gewinn",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Gesamtgewinn  = Erlös - gesamte Kosten"]
[null,"Rückfluss  = Gewinn + \"verdiente\" Abschreibung"]
[]
[null,"Amortisationsdauer",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Amortisationsdauer = Kapitaleinsatz/Rückfluss"]
[]
[null,"Ergebnis",null,null,"Maschine 1","Maschine 2"]
[]
[null,"Amortisationsdauer = Kapitaleinsatz/Rückfluss"]
[null,"Entscheidung "]

{"sheet":"Vergleich (1)","index":10,"n_rows":10,"n_cols":5,"rows_kept":10,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Statische Investitionsrechnung"]
[]
[]
[null,"Verfahren","Maschine 1","Maschine 2","Entscheidung"]
[]
[null,"Kostenvergleichsrechnung"]
[null,"Gewinnvergleichsrechnung"]
[null,"Rentabilitätsvergleichsrechnung"]
[null,"Statische Amortisationsrechnung"]

{"sheet":"Kapitalwertmethode","index":11,"n_rows":68,"n_cols":10,"rows_kept":68,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Kapitalwertmethode"]
[]
[]
[null,"  Cashflow Berechnung"]
[null,null,null,null,"t0","t1","t2","t3","t4","t5"]
[null,"  Investition Anlagevermögen"]
[null,"  Investition Umlaufvermögen"]
[null,"  Investitionssumme"]
[null,"  Absatzvolumen"]
[null,"  Verkaufspreis pro LE"]
[null,"  Umsatzerlöse"]
[null,"  Variable Auszahlungen pro LE"]
[null,"  Variable Auszahlungen"]
[null,"  Fixe Auszahlungen (ohne AfA)"]
[null,"  Abschreibung"]
[]
[null,"  Einkommen vor Steuern"]
[]
[null,"  Steuern"]
[]
[null,"  Nettogewinn"]
[]
[null,"  Abschreibung"]
[null,"  Verkauf zum Buchwert"]
[]
[null,"  Cashflow"]
[]
[]
[]
[null,"  Projektanalyse"]
[null,"  ",null,null,"t0","t1","t2","t3","t4","t5"]
[null,"  Jahr"]
[null,"  Kalkulationszinssatz"]
[null,"  Barwertfaktoren"]
[null,"  Barwerte"]
[]
[null,"  Kapitalwert (NPV) (Berechnung 1)"]
[null,"  Kapitalwert (NPV) (Berechnung 2)"]
[]
[null,"  Interner Zinssatz"]
[]
[null,"  Gewinnannuität"]
[]
[]
[]
[null,"  Finanzplan I"]
[null,null,null,null,"t0","t1","t2","t3","t4","t5"]
[null,"  Investitionszahlung"]
[null,"  Kreditaufnahme"]
[null,"  Kredit Anfang des Jahres"]
[null,"  Zinszahlung"]
[null,"  Tilgung"]
[null,"  Kredit Ende des Jahres"]
[null,"  Gewinn"]
[null,"  Barwert"]
[]
[]
[]
[null,"  Finanzplan II"]
[null,null,null,null,"t0","t1","t2","t3","t4","t5"]
[null,"  Investitionszahlungen"]
[null,"  Kreditaufnahme"]
[null,"  Kredit Anfang des Jahres"]
[null,"  Zinszahlung"]
[null,"  Tilgung"]
[null,"  Kredit Ende des Jahres"]
[null,"  Gewinn"]

{"sheet":"Interne Zinssatzmethode","index":12,"n_rows":31,"n_cols":10,"rows_kept":31,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Interne Zinssatzmethode"]
[]
[]
[null,"  Finanzplan I"]
[null,null,null,null,"t0","t1","t2","t3","t4","t5"]
[null,"  Investitionszahlungen"]
[null,"  Interner Zins"]
[]
[]
[]
[]
[]
[null,"Alternativ-\nZinssatz i","NPV"]
[]
[null,0]
[null,0.02]
[null,0.04]
[null,0.06]
[null,0.08]
[null,0.1]
[null,0.12000000000000001]
[null,0.14000000000000001]
[null,0.16]
[null,0.18]
[null,0.19999999999999998]
[null,0.21999999999999997]
[null,0.23999999999999996]
[null,0.25999999999999995]
[null,0.27999999999999997]
[null,0.3]

{"sheet":"Annuitätenmethode","index":13,"n_rows":23,"n_cols":10,"rows_kept":23,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Annuitätenmethode"]
[]
[]
[null,"  Projektanalyse"]
[null,"  ",null,null,"t0","t1","t2","t3","t4","t5"]
[null,"  Jahr"]
[null,"  Kalkulationszinssatz"]
[null,"  Barwertfaktoren"]
[null,"  Investitionszahlungen"]
[null,"  Barwerte"]
[]
[]
[null,"  Finanzplan III"]
[null,null,null,null,"t0","t1","t2","t3","t4","t5"]
[null,"  Kreditaufnahme"]
[null,"  Kredit Anfang des Jahres"]
[null,"  Annuität AF"]
[null,"  Zinsen"]
[null,"  Tilgung"]
[null,"  Kredit Ende des Jahres"]
[null,"  Annuität AI"]
[null,"  Gewinn = AI - AF"]

{"sheet":"Vergleich (2)","index":14,"n_rows":9,"n_cols":6,"rows_kept":9,"cut":false,"hidden":false,"merged":[[4,2,5,2],[4,3,5,3],[4,4,5,4],[4,5,5,5]]}
[]
[null,"Dynamische Investitionsrechnung"]
[]
[]
[null,"  Investitionen unterschiedlicher","Investition A","Investition B","Investition C","Entscheidung"]
[null,"  Höhe und Nutzungsdauer"]
[null,"  Kapitalwert",{"$f":"NPV('Annahmen Dyn. Invest.rechnung'!E25,'Annahmen Dyn. Invest.rechnung'!F22:H22)+'Annahmen Dyn. Invest.rechnung'!E22","v":40.796393688955618},{"$f":"NPV('Annahmen Dyn. Invest.rechnung'!E25,'Annahmen Dyn. Invest.rechnung'!F23:G23)+'Annahmen Dyn. Invest.rechnung'!E23","v":29.752066115702462},{"$f":"NPV('Annahmen Dyn. Invest.rechnung'!E25,'Annahmen Dyn. Invest.rechnung'!F24:H24)+'Annahmen Dyn. Invest.rechnung'!E24","v":24.342599549211116},{"$f":"INDEX($C$5:$E$6,1,MATCH(MAX(C7:E7),C7:E7,0))","v":"Investition A"}]
[null,"  Interner Zins",{"$f":"IRR('Annahmen Dyn. Invest.rechnung'!E22:H22)","v":0.19437709962747851},{"$f":"IRR('Annahmen Dyn. Invest.rechnung'!E23:G23)","v":0.31046863561492688},{"$f":"IRR('Annahmen Dyn. Invest.rechnung'!E24:H24)","v":0.23375192852825655},{"$f":"INDEX($C$5:$E$6,1,MATCH(MAX(C8:E8),C8:E8,0))","v":"Investition B"}]
[null,"  Annuität",{"$f":"PMT('Annahmen Dyn. Invest.rechnung'!$E$25,'Annahmen Dyn. Invest.rechnung'!$H$21,-C7)","v":16.404833836857989},{"$f":"PMT('Annahmen Dyn. Invest.rechnung'!$E$25,'Annahmen Dyn. Invest.rechnung'!$H$21,-D7)","v":11.963746223564952},{"$f":"PMT('Annahmen Dyn. Invest.rechnung'!$E$25,'Annahmen Dyn. Invest.rechnung'!$H$21,-E7)","v":9.7885196374622367},"Investition A"]