BẢNG LIỆT KÊ CÁC PHẦN CỦA CÁC THÀNH VIÊN ĐẢM NHIỆM
Nội dung Thành viên thực hiện
1. CHƯƠNG 1

2. CHƯƠNG 2
1. PHÂN TÍCH 7 CTY TRONG NGÀNH


!"#
$
%&%
'()* –  
2. PHÂN TÍCH NGÀNH – )*
CHƯƠNG 3
+,PHẦN DỰ TOÁN BÁO CÁO TÀI CHÍNH - 
)*
,PHẦN KẾ HOẠCH ĐẦU TƯ DÀI HẠN – 
-,PHẦN ĐÁNH GIÁ SỰ TĂNG TRƯỞNG CỦA CÁC DOANH
NGHIỆP TRONG NGÀNH – )*
4. PHƯƠNG TRÌNH TĂNG TRƯỞNG, ĐÁNH GIÁ SỰ TĂNG
TRƯỞNG CỦA CTY %&
3. CHƯƠNG 4
)*%&
4. MỞ, KẾT

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Bảng đánh giá các thành viên trong nhóm
HỌ VÀ TÊN % hoàn thành

5%
TỔNG
  
100%
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MỞ ĐẦU
3456575895:;<=:>;;39?5:9@55AB5:CDECD4556FG956HBDH56=:456=:I
JHKALM56K98NOJP9KQRHST=:>;;39?5DUAD>D56H5::H565V56RWO;:UB
SX5YK?K>=Z56RM95:CDECKQD:4DC[DS\56,AC5]O5]O69A5:^=_
575895:;<9@;AO5Q9D:C56JH56H5:5V5656:9@=5Q939`56KaDQ5:b56
c9<5D:CB?5RP5DXJ7D:d;JHRFe56,4M;K[56SX5fCd;;:Fg56OM9D>D
56H5::H565V56RWO;:UBSX5DUA9@;AODh56D:Z5689<55:b56;:ABKi9
Dj56JP9ST:[95:^=SWC3[56:g5JH4575895:;<8:CJTDJH;:<69P9,3456
KQ5V56SX5Jk5RHOV
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D:N,,,
V56SX5RHO[;Ro5:JTD8:V56;:?;:9<CJHD:9<O=:E5RP5;3456KQ566Q=
*'D:45FPD;A,3456KQOnAKFG56RHO[;56H5:8:V56;:?;:9<CJHKA56

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>5;H9D:n5:D:4DV56;BOnAKFG56 AOg5:A5:QA,
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CHƯƠNG 1 : KHÁI QUÁT VỀ NGÀNH MÍA ĐƯỜNG
I. Phân tích môi trường kinh doanh của ngành mía đường Việt nam
1.Môi trường tổng quát
a. Tình hình chính trị - pháp luật
‚56ST=:\9:e=5:~=5:H56!X56:H5FPD|;;3^5iuC\DD>DK4H5;:?
uCE5D:I56JHD>D;iD:ZDfa:[93[56RP5DUA5:W5LW5KaDj565:ACOA56RM9
D:4;y5::y5:D:n5:;3~9@;AOO[;STi5K~5:c75Jb56,9@;AOKA56KFeD
D>D5:HKEC;FuC\D;<K>5:69>3d;DA4w8:nADM5:5HBS4JP9D>D5FPD8:>D
;34568:CJTD,
6HB+ƒ„++3A5;:4O;459@;AOKaDV56c\8<;uCXDC[D8:X4S>;
;:>56++„ 0RdB…89<5;v:g5 KM9L9@5D>D5:HKEC;FJHD:CB`569A;F
Jd5KEC;F;M99@;AO,%<;uCXRH10/S\56FG9KFeD:†9DQD>95:y5;nD:DTD
J7;y5::y5:895:;<9@;AO;3456+;:>56;P9,:`OJH4KQ‡ƒ/56FG9;3XRG9
Ka;†3A;95;Fw563‚569@;AO:9@5KA56RHK9?OKEC;F:d=Lk5:g5D>DK9?O
KEC;F8:>D,
p;:?;3nD:Lk5RG9DUAV56%A;SC;44O99$:U;~D:89`Oi569>OK\D
DV56;B9:4559SBSJH9:4559SBS4RC;945:^;X5}ˆV95:^5;:dBOV9
;3FG56;M99@;AO3d;i5K~5:A5cy5:!X56D[56SX59@;AOKaKXO5:^5
JA9;3zRa5:KM4Kd;5FPD3d;;\;JHcEC8:V568:nD:n5:;3~i5K~5:RHO[;;3456
5:b56K[56RTDK?D:I56;V98:V56=:X9R4Rm568:9895:L4A5:,‰
P9O[;575D:n5:;3~i5K~5:KFeDD>D5:HKEC;FK>5:69>3d;DA4;3`5;:<
69P9;:y;:TDSTRHO[;B<C;\;:C:I;D>D5:HKEC;F;:WO5:^=JH=:>;;39?5;:~
;3FG56;M99@;AOw;d;DXD>D56H5::H56,
b. Tình hình kinh tế

J9`58:nD:R@56:9`5DZC8:4A:sD=:>;;39?5DV5656:@,
64H93ADh56;:V56uCAST=:>;;39?5%OH56HB5ABD4556FG9c9<;
5:b56;:TD=:rO:AB5:b56;:Z;\;JH8:V56;\;D:4SZD8:†ŠOy5:OH;vKQ
DQ5:b56;:ABKi9JHD:s5RTA;\;:g5D:4SZD8:†ŠDUAOy5:R4M9c†KH4;:X9
LE55:b56;:Z8:V56;\;D:4SZD8:†Šc9<;D>D:K97CD:x5:O[;D:<K[]5C\56
JH;^=RCB@5K?DQKFeDSZD8:†Š;\;,
d. Tình hình văn hóa – xã hội
- Dân số
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DA46E5
6d=KV93C56C\D6d=:g51RE5O^;K[D:C56DUA;:<69P9JH6d=+.RE5O^;
K[LW5S\DUAD>D5FPDKa=:>;;39?5,
gDdCLW5S\KaD:CB?5;vDgDdCLW5S\;3{SA5669A9K4M5DgDdC;Ci9;:C^5
Re9JP956C•55:W5RTDL•9LH45:d;;v;3FPDK<55ABJP9‡21/;3456K[;Ci9
RA4K[56JH;:Š4S\R9@C;:\568`ST69A;]56LW5S\;:H5:;:~KA56DQfC
:FP56;]565:A5::g5w5V56;:V5,
:FJ^BDQ;:?8:•56K~5:9@;AORHO[;5FPDKV56LW5DQDgDdCLW5S\
;3{5:^5K~5:5HBKFAK<5:A9Re9;:<D:456H5::H56;:TD=:rO,
:Z5:d;cw9JP9LW5S\KV565:F5FPD;ADh56K•5656:oAJP9J9@DS•DQO[;
5:CDEC8:i56R•K\9JP9D>DO|;:H56RFg56;:TD;:TD=:rO$5:b56O|;:H56
;:9<;B<C,!WBS•RHO[;B<C;\uCA5;3s56K\9JP9D>D5:HKEC;F;3456Ro5:JTD
;:TD=:rO
:Z:A9RHJP9DgDdCLW5S\;3{56FG9;AS•DQ;:?L•LH56;:ABKi98:rCJ~
:g5S4JP9;E56RP=DA4;Ci956FG9;3{;:FG56DQfC:FP56L•D:d=5:^5:g5
DQ;n5:;:nD:56:9;\;:g5K97CKQS•;M4K97C89@5D:4D>DR4M9;:TD=:rO:Fg56
J~OP9RM;:WO5:^=;:~;3FG56JH;:ZD]55:A5:Dh568:V56=:X9RH564M9R@,
- Nông nghiệp
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‘>DK[56K<5;]56;3Fw5656H5:

JHSX5RFe56;3456K97C89@5:H5FPDKaLCB;3yD>DD:n5:S>D::q;3eOM5:,
$!\9JP9:4M;K[56L~D:Jp5V5656:9@=}
>DK[56DUAJ9@D69A5:^=_K<5:4M;K[565HBRH8:V56K>568?JHcX5
;:W5:4M;K[565HBDQuCBOV3d;5:†D:FA;^5Lp56KFeD5:b56Re9;:<;v
J9@D69A5:^=_,
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56H5:5V5656:9@=9@;AO5:b565]OuCAD:FA;:?:9@5JA9;3z;nD:DTDK\9
JP9;3•56;3s;JHD:]55CV9D:FA6Q==:E5;nD:DTDJH4uC>;3y5:5W56DA45]56
SCd;RA4K[56;34565V5656:9@=O|DLj69A5:^=_Ka;M43A5:b56Dg:[9
RP5K?69A;]56:4M;K[56L~D:Jp;3456;4H5575895:;<,
$>DK[56Ow3[56;:~;3FG56SX5=:rO5V5656:9@=
‘w3[56;:~;3FG56fCd;8:rC}
AC25]O69A5:^=_56H5:5V5656:9@=9@;AOKaOw3[56fCd;8:rC
JP989O56MD:fCd;8:rC;]562/„5]OKM;+‡,2ƒ1;39@C*JH45]O ‹;CB
5]O 0RM9c~69XO,
>5DW5fCd;5:^=8:rC5V5656:9@=5:b565]OuCARHLFg56;34568:9D>5
DW5fCd;5:^=8:rCDUA;4H5575895:;<RHWO,X5=:rO5V56SX5fCd;8:rC
8:V5656v56Ow3[56J7;:~;3FG56JHD:U56R4M9,
‘w3[56;:~;3FG56;9`C;:p;34565FPD}
:~;3FG565V56SX55[9K~AKaJHKA56KFeDOw3[5669bAD>DJj56O975DX
J7S\RFe56D:U56R4M9JHOkCOa,>DL4A5:56:9@=;:Fg56OM95qRTDKFA
:H56:QA5V56SX5D:<c9<5J7;9`C;:p;M9Jj565V56;:V5K?8nD:DEC;9`CLj56
JHD:9<ORo5:;:~;3FG565V56;:V5;34565FPD;3FPD8:9D>DDV56;B5FPD564H9
Ow3[56:4M;K[56J75V56;:V5,
:b56;:ABKi9J7L9@5;nD:SX5RFe56JH69>;3~5V5656:9@=;345625]OuCA
=:X5>5:;>DK[56DUA69A5:^=_J7DgcX5RH;nD:DTD;M4DgSw;:TD;9•5
D:4J9@DK~5::y5:O[;DgDdC”=:j:e=JP95:CDECDUA;:~;3FG56;3456
JH564H95FPD=:>;:CBDA45:d;Re9;:<;T5:9`5DUAD>DJj56S95:;:>9;3`5Dg
SwKQDQ;:?;:9<;8<D>DD:n5:S>D:=:>;;39?55V5656:9@==:j:e=;:Š456H5:
SX5=:rOJH;:Š4Jj56SX5fCd;,CB5:9`5Dh56DE5;:dB3‚56DgDdC”

;34565]O,yJ^B5`5D:9=:n;•5;3b:H56:QA5HB3d;DA4JH69>;:H5:=:rO
8:>DA4,
:Š4Lz56DgD:<;:~;3FG56;3456;:G969A56E5KWBSX5=:rOKFG56DUA9@;
AOc~DM5:;3A5:6AB6m;JP9KFG56DUAD>D5FPD;34568:CJTD:g55bAL4
D:FADQSTuC9:4MD:8:4A:sD5`5L9@5;nD:5]56SCd;SX5RFe56OnADUA9@;
AO;:FG568:V56i5K~5:,
:4K<569A9K4M5:9@55AB56H5:OnAKFG56;M99@;AOJk5D:FA=:>;;39?5
OM5:K?DQ;:?;3w;:H5:56H5:DV5656:9@=D:URTDDUA575895:;<,
3`5DX5FPD:9@55ABDQ8:4X562.5:HO>BSX5fCd;KFG56;CB5:9`5OP9D:x
K>=Z56KFeD8:4X56ƒ./5:CDECDz5RM9=:X95:^=8:rC;v5FPD564H95:F
J^B;97O5]56;v;:~;3FG565[9K~AJk5Dz53d;RP5,
ZD;9`C;:pKFG56cy5:uCW5KEC56FG99@;AO;:d=:g5S4JP9OZD;3C56
cy5:;:<69P9RH;97O5]56K?;]56;3Fw56DUA56H5:OnAKFG569@;AO,HLj
SX5RFe56K>=Z56KFeD5:CDEC5:F5669>;:H5:DA4RH3H4DX5RHR…L4K?
D>DL4A5:56:9@=;9`C;:pKFG56:FP56K<556C•5DC56;v5FPD564H96WB
8:Q8:]58:V565:†D:4ST=:>;;39?5DUA56H5:OnAKFG569@;AO,
9>KFG56;:<69P9;vKEC5]O.++K<55ABL9•5c9<5=:ZD;M=JHKA56DQfC
:FP5669XO;CB5:9`569>KFG56;34565FPDJk5LCB;3y8:>DA4O|DLjKA56RH
OjADA4K9?ODUA56C•5DC56;34565FPD,
9>OnAKFG56;34565FPD;]56DA4JP9;i56DECKFG56;4H5uC\D59`5Jp
 ‹$ 0JH48:4X56+,-$+,2;39@C;d5;34568:9;i56SX5RFe56SX5fCd;
5]O5ABDh565:F;•58:45]O564>9D:xKM;8:4X56:g5+,+1;39@C;d5,9>c>5
KFG56;34565FPDR9`5;pD;]56K|Dc9@;RH;:G969A5;3456;:>56+5HB69>c>5
cCV5Ka;]56R`5OZD69>+‡ $+‡1 K•56„8669>c>5R{KM;OZD;v+‹
$+0 K•56„86OZD69>DA45:d;;v;3FPDK<55AB,
3. Sự cạnh tranh của các doanh nghiệp mía đường Việt Nam
6H5:KFG569@;AO8:V56DQ;n5:DM5:;3A5:DA4S4JP9D>D5FPD;34568:C
JTDJH;3`5;:<69P9L469>;:H5:SX5fCd;DA4O[;=:E5RHL469>OCA56CB`5
R9@COnADA4:g5D>D5FPD;34568:CJTD8:4X56 /K•56;:G9LWBD:CB75
SX5fCd;OnA5FPD;AD:FADA4S4JP9D>D5FPD;3`5;:<69P9,

5. Áp lực từ những sản phẩm thay thế đường mía
>DR4M9KFG56DQ;:?;:AB;:<KFG56OnA
$!FG565:W5;M4
!FG565:W5;M4DQK[56s;6d=5:97CRE5KFG568n5:;i56:e=;v5:b56D:d;
DQ;3456;T5:9`5KFeDLj563[563a9;3456DV5656:9@=;:TD=:rO5:Fc>5:
5FPD56s;8Ž4;:TD=:rOKQ56:[=OZ;JH;:MD:SX5=:rO;vSbAJH:H56
R4M;;:ZD]5JHC\568:>D,
$>DR4M9KFG565:W5;M4
(S=A3;AO}56s;6d= RE5KFG56;:V56;:FG56, 4M9KFG565HBL•c~:C’cw9
5:9@;5`58:V56KFeDLj56D:45dC5FP56—DQ;:?;:`OJH4;:ZD]5SAC8:9Ka
D:<c9<5˜,
ADD:A395}56s;6d= RE5KFG56;:V56;:FG56,%:V56c~:C’cw95:9@;,
CD3AR4SŠ}56s;6d=‡ RE5KFG56;:V56;:FG56,%:V56c~:C’cw95:9@;K[—DX
5Q56JHRM5:˜
(DŠSCRšAO%}56s;6d= RE5KFG56;:V56;:FG56,%:V56c~:C’cw95:9@;K[,
%:9S•Lp56Kg5K[D;:yDQJ~:g9Km56L4KQDE58<;:e=D>DD:d;;M456s;
8:>D,
$!FG56ARD4:4R
!FG56ARD4:4R—S4OAR; AD;9;4RAR;9;4RA559;4R43c9;4R”BR9;4R˜RH
DA3c4:BL3A;ŠDQ;3456D>DR4M9;3>9DWBJH;:X4O[DKFeDLj56K?SX5fCd;
;:H5:KFG56S•Lp56, 4M9KFG565HB8:V5656s;:g5KFG56OnA,
%:>DJP9KFG565:W5;M48:V56D:ZADAR439ŠR4M9KFG565HBDQD:ZAO[;
RFe56DAR439Š5:d;K~5:,*4KQ5:97C56FG9KaLj565Q;:AB;:<D:4KFG56;95:
;:V56;:FG56,|DLj;`56s9RHˆKFG56ARD4:4R‰5:F565Q8:V56:7D:ZAD•5
8:V56DQŠ;:A54R5:FD>DR4M93FeCc9A,
$:d;;M456s;;T5:9`5
:d;;M456s;;T5:9`5—5FPD;3>9DWBDVK|DO^;:4AO^;456O^;KFG56
OA=RŠSB3C=˜RHD>DR4M9KFG56;:AB;:<KFeDfŠO;\;D:4SZD8:4{:g5KFG56
;95:;:V56;:FG56:4|DD>DR4M9KFG56;:AB;:<,:I56KFeDS•Lp563d;5:97C
;M969AKy5:JHDX;3456DV5656:@;:TD=:rO,:I56KFeDLj56RHO56s;;:ZD

;9`5KEC;F:H56KEC,!EC;FJH4nAKFG56;:Z5:d;K?K>=Z56;3FPDOm;5:C
DEC;9`C;:pKFG56;34565FPDKA56Lk5KFeD5W56DA4;:Š4K97C89@5OZD
S\56DUA56FG9LW556HBDH56KFeD5W56R`5,:Z:A9RHK?=:pDJpD:4fCd;
8:rCKFG563A;:<69P9;:C:I;;:`ORe95:C^5D:4C\D69A,
9@;AODh56cm;KEC;:AO69AJH4;9<5;œ5:OwD•A:[95:^=JH;4H5DEC:4>
c‚56J9@D3A5:^=(•(JH_,P9K|DK9?ODUAO[;5FPD5V5656:9@=KA56
=:>;;39?59@;AODQ5:97CRe9;:<DM5:;3A5:J7D>DSX5=:rO5V56SX5,”Cd;
8:rC5V56SX5K]JHKA56KQ566Q=O[;=:E58:>RP5JH4;i5689O56MD:fCd;
8:rCDUADX5FPD6Q==:E5;:C564M9;@JHDC56Dd=J\5D:4575895:;<,V56
SX5K];3w;:H5:O[;56H5:fCd;8:rCD:URTDDUA9@;AO,
nAKFG56DQJ~;3n8:>uCA5;3s56;345656H5:D:<c9<55V56SX5JHRH56H5:
SX5fCd;K]DQ;vRWCw9@;AO,QKQ56JA9;3
l
uCA5;3s56;3456J9@DK>=Z56
5:CDEC8:>RP5;34565FPD69X9uCB<;J9@DRHOJH;3456DV56DC[DDV5656:9@=
:4>$:9@5KM9:4>Kd;5FPD,X5fCd;KFG56i5K~5:JH=:>;;39?5S•6Q==:E5
=:>;;39?5K•56c[D>D56H5:DV5656:@D:<c9<58:>D,
2. Thách thức .
9@55ABLFRFe56;•58:4;M9D>D5:HO>BKFG56Dz5:g5+.‹56:y5;d5D[56
JP9ƒ.56:y5;d5KFG565:^=8:rC;:Š4DAO8<;_Dj56JP9KFG565:^=R^C
KA56;3H5JH4;:~;3FG56JP9S\RFe56RP5D:FA;:?89?OS4>;KFeD8:9<569>
KFG56;34565FPD69XOJHD:FADQLdC:9@C5:nD:R`5,,,6H5:OnAKFG56
5FPD;A=:X9K\9O|;JP95:97C8:Q8:]5;:>D:;:ZD,
:Š49@=:[9OnAKFG569@;AO8:Q8:]5RP5DUA56H5:OnAKFG569@;
AO:9@55ABRHJd5K756CB`5R9@COnA,V56;>DOnA69\568ž;:C^;DA5:;>D
DV56;>D;:UBRe9D:FAK>=Z56B`CDEC;:TD;9•5D:45`55]56SCd;OnAcy5:
uCW5DX5FPDJp.++$.+KM;;:d=,P969>OnA;:d=5:F:9@55ABRH0 
56:y5K•56„;d5R4M9OnA+.—+.D:bKFG56˜JHJP969>c>5KFG56;3m56
69XOfC\56LFP9+1,1 K•56„86;:y5:97C5:HO>BKaJHKA56;:CARq,[;B<C
;\5bAX5::Fw568:V565:†RH;34565]O.++JHKEC5]O.+Ra9SCd;56W5

c9<5JP9L9@5;nD:OnA,q9RE5L9@5;nD:OnA;v 56H5:A;3wR`5RHLdC:9@C
DX5:c>456H5:OnAKFG56KA56wKx5:DUAD:C8Œ69>OnAKFG56S•fC\56
;:d=JH56H5:D:Cr5c~KQ5O[;Ke;Sp;69XORe95:C^5L4:@uCXDUA56C•5
DC56LF;:vA,
d;D:d=5:CDEC;9`C;:pKFG56DUAD>D5:HO>B5FPD69X98:>;c>5:8Ž4JH
;9`C;:pKFG56;3TD;9<=69A;]56;3456+.5]OuCA—;3C56cy5:8:4X56-/„5]O˜
5]56SCd;OnADh5669A;]56;vOZD1.;d5„:A;34565]O R`511;d5„:A69A9
K4M5 ƒ$ ‹JHK<5‡+$‡-;d5„:A69A9K4M5.+$.+-5`5L9@5;nD:OnADQ
;:?KFeDfŠORHD:x;9`C8:>D:Cr5OTDK?K>5:69>;n5:D:C8ŒDUA56H5:OnA
KFG569@;5AO,
Hình 1 : Diện tích và giá mía, 2003 – 2013E

Nguồn: Bộ Nông Nghiệp, Hiệp Hội Mía Đường
Lưu ý: Diện tích niên vụ 2012-2013 (gọi tắt là niên vụ 2013) dựa trên kế hoạch
sản xuất của 40 nhà máy đường. Giá đường niên vụ 2013 được lấy ở thời điểm
hiện tại của khu vực ĐBSCL để phản ánh xu hướng giảm giá đường, không đại
diện cho cả niên vụ 2013
9`5Jp.+5]56SCd;OnA;]565:ŽJHL9@5;nD:OnA;]56+56H5:AS4JP9
.++KM;‹-56H5:A5‚Ow69bAD:C8ŒDUA56H5:5`5J9@DD>DL4A5:56:9@=
OnAKFG566E5KWBDV56c\Re95:C^56[=-uC…5]O.+Sp;69XOS4JP9Dj56
8Œ5]O;3FPDDh56RHO[;K97CL•:9?CJk55‚O;3456D:C8ŒDUA56H5:OnA,
Hình 2: Diện tích mía và lợi nhuận gộp của SBT và BHS, 2003 – 2011

!?O95:D:Z56c9<5K[56Re95:C^5DUAD>DL4A5:56:9@=OnAKFG56JP9D:C
8Œ56H5:,:QO1Lj56Re95:C^56[=DUAJHJP9L9@5;nD:OnA;:Š4
;:G969A5Jy—+˜Re95:C^56[=D:x=:X5>5:O\9uCA5:@69bA5:HO>BKFG56JP9
56FG9;9`CLj56JH5V56LW55`5K>5:69>D:n5:f>D:g5D>DD:x;9`CRe95:C^5
8:>D“—˜:A95:HO>BKFG56JHDQLbR9@C;H9D:n5:uC>8:ZKULH9JH
KM9L9@5KFeDD:456H5:OnAKFG56,
:y5JH4:y5:DQ;:?;:dBO\9uCA5:@5HB3d;3€5t;}Re95:C^5DUAJH

fC\56,[;RE55bAR~D:S•56H5:KFG56KA56R|=RM9D:n5:5QJH;Fg56RA9Ka
DQ;:?5:y5;:dB;3FPD
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
Hình 4: diện tích trồng mía và lợi nhuận SBT ,LSS 2005-2012

Hình 5 : diện tích trồng mía Việt Nam 1999-2012

[;c9?CK•8:>Dw;3`5Dh56D:4;:dBD:C8Œ895:L4A5:DUA56H5:OnAKFG56
9@;AO;:FG568t4LH9;v2$15]O—fŠO:y5:2˜JHOjAJp;3•56OnA;:FG56
8t4LH9D:x+5]O,%:9D:C8Œ5HBKM;Kx5:JH45]O ƒ—:y5:2˜;:y56C•5
DC56OnADh56KM;8:\9RFe56DA45:d;,*4KQRe95:C^5;vDWBOnAS•cm;KEC
69XOLE5L4STDM5:;3A5:OM5:O•69bA5:b5656FG9;3•56OnA,yJ^B56FG9
;3•56OnA;:FG56D:CB?5SA56D>DR4M9DWB;3•568:>DJP9Re95:C^5DA4:g5,
]O 08:9L9@5;nD:OnA56CB`5R9@CD:MOK>B;:yDh56RHRID56C•5DC56
OnA56CB`5R9@C8:V56K>=Z56KU5:CDECJHRe95:C^5;vDWBOnAcm;KEC;]56
;3wRM9,T;]56;3Fw56Re95:C^5;vDWBOnAS•;:IDKrB56FG9;3•56OnAOw
3[56L9@5;nD:K?69A;]56Re95:C^5,:GJ^BL9@5;nD:OnA56CB`5R9@CDUA9@;
AOKaKFeDOw3[56K>568?;v 0$.+,
e95:C^5D:4DX56FG9;3•56OnAJHD>DDV56;BOnAKFG56JyJ^Bcm;KECSp;
69XO;34565]O.+8:9D:C8ŒDUA56H5:OnAKFG56KaKM;Kx5:,*bR9@CR~D:
S•—:y5:1˜DUA56H5:D:4;:dBSTSp;69XOL9@5;nD:OnA56CB`5R9@CSAC8:9KM;
Kx5:;:FG56D:x8t4LH9;v+$5]O;3FPD8:9:•9=:pD;3wRM9,*4KQ56H5:
KFG56DQ;:?S•;9<=;pD8:V56;:C^5Re9;34565]O.+-JHcm;KEC:•9=:pD;3w
RM9;v5]O.+2,
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;]561 /,9@D;]56!JH69XOD>D8:4X5KEC;F;H9D:n5:LH9:M5D:Z56
;†L4A5:56:9@=KauCA5;WOK<5J9@D;]565]56RTDDV56;BOw3[56895:
L4A5:H;]56SZDOM5:DM5:;3A5:,
':E556C•5J\5DUADV56;B5]O.+.;]56+2ƒ2/S4JP95]O 05]O.++
;]56‡‡/S4JP95]O.+.Jy}
!\9JP95e=:X9;3XDUADV56;B5]O.+.;]56+-‡‡/S4JP95]O 0Dp;:?
RHL45e56m5:M5DUADV56;B;]56+11/;34568:95eLH9:M569XOƒ2/,
]O.++5e=:X9;3X;]562+2+/;3456KQ5e56m5:M5;]5611,ƒ/JH5e
LH9:M569XO‹ƒ/,
!\9JP9J\5D:USw:bC;:y5]O.+.;]56+‡ƒ2/S4JP95]O 05]O.++
;]56+.2-/S4JP95]O.+.,
Báo cáo hoạt động kinh doanh ( Phụ lục 1 – Bảng 1.4)
CA=:W5;nD:c>4D>4:4M;K[56895:L4A5:;v5]O 0$.++DUADV56;B;A
;:dB 5]O.+.;]56+2ƒ/S4JP95]O 056CB`55:W5RHL4L4A5:
;:Cc>5:H56JHDC56Dd=L~D:JpDUADV56;B5]O.+.;]56‡‹1/S4JP9
5]O 0Jy;:<;CBD>D8:4X569XO;3vL4A5:;:C5]O.+.DQ;]56:g5S4JP9
5]O 0JP9;’R@;]56‡12/5:F56L4A5:;:C;:CE5DUADV56;BJk5;]56
;Fg56KFg56;’R@RH‡‹1-/
*/ Phân tích khối :
Bảng CĐKT ( Phụ lục 1 – Bảng 1.5)
CA=:W5;nD:8:\9cX56!%;A;:dB}
7;H9SX5};’;3s56D:9<O;’;3s56;Fg56K\9DA4:g5¡;i56;H9SX55]O
 0D:9<O‡./5]O.+.D:9<O‡.‹‹/5]O.++D:9<O1‹ƒ2/
D:9<O;’;3s56DA456CB`55:W5RHL4;•58:4JHD>D8:4X5=:X9;:C56m5:M5
D:9<O;’;3s56DA4;3456H;n5:S95:Re98:V56DA4,CB5:9`5DV56;B
KA56DQfC:FP5669XOD:UB<CRH69XO5:b568:4X5=:X9;:C56m5:M5
K?KEC;FD:4*c‚56D:Z56RH;v5]O 0$.++DV56;BKA56DQfC
:FP56;]56*Dp;:?RH5]O 0*D:9<O-0‹/5]O.+.D:9<O
-0+/5]O.++D:9<O2+‡/,!97C5HB;:?:9@5STD:I;3s56DUADV56;B
JH4KEC;FKi9OP9;H9SX5D\K~5:69I=D:4DgS†J^;D:d;DUADV56;B56HBDH56

%:X5]56;:A5:;4>5DUADV56;BDQfC:FP5669XOL4DV56;BKA56D:UK[56
69A;]56J9@DS•Lp56J\5JAB56m5:M5D:4:4M;K[56895:L4A5:K?69A;]56
SX5RFe56SX5fCd;K>=Z565:CDEC56HBDH56RP5DUA8:>D::H56,v5]O
 0$.++5:y5D:C568:X5]56;:A5:;4>5DUADV56;BDQOZDK[LA4K[56
8:V56RP5,64H93A:@S\;:A5:;4>5:9@5:H5:¢+JH:@S\;:A5:;4>55:A5:
LA4K[56;v.1$+D:4;:dBDV56;BJk569bKFeDOZDA5;4H5DA4;3456:4M;
K[56,
$9@CuCX:4M;K[56
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9@CuCX:4M;K[56KA56;:?:9@5STDX9;:9@5;3456D>D5•OuCA5i9c^;5:d;RH
Jz56uCAB8:4X5=:X9;:CJP9OZD;]56;vƒ+‡Jz565]O 0R`5+.2ƒJz56
5]O.++D:4;:dB;975;:CKFeDJ7uCžDH565:A5:D:Z56;†J~;:<DUADV56;B
56HBDH56RP5S4JP98:>D::H56SX5RFe56;9`C;:pDH56RP55:F56J9@Dc>5
:H56;3XD:^OD:48:>D::H5656HBDH5669XO,z56uCAB:H56;•58:4Dh56
KA56DX9;:9@53d;;\;—;]56;v1‡+Jz565]O 0R`5ƒ‡Jz565]O.++˜8:9
SX5=:rO;9`C;:pDUADV56;BKA56DQ;9<5;39?5;\;JHJ9@DLT;3b:H56;•58:4
8:>:e=R…,!97C5HBD:I56;†S\56HB:H56RFC8:469XOJH:9@CuCXS•Lp56
J\5KFeD5W56DA4,z56uCAB;H9SX5Dh56KA56DX9;:9@5;CB8:V56OM5:
5:F56D:4;:dBJ9@DS•Lp56;H9SX5DUADV56;BKA56LE5:9@CuCX:g5,
$gDdCJ\5
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;4H58:9OHOZDJAB5eD:9<O8:>DA4JHDQfC:FP56;]56;3456D>D5]O
—5]O 0;i565e„;i56D:9<O1+1‡/5]O.+.D:9<O1+.‹/5]O.++
D:9<O1ƒ+/˜RHOD:4;’R@„i56KA5669XOLE5—;v2‹.0/5]O
 0fC\56Dz52ƒ0/5]O.++˜,g55bA;’R@5e56m5:M5„;i56D:9<O
JP9;’;3s56DA4S4JP9;’R@5eLH9:M5„;i56,:b56K97C5HBRHOD:4;y5:

!\9JP9;H9SX5;:y5]O.+.;]56++‹ƒ/S4JP95]O 0D:U
B<CRHL4975JHD>D8:4X5;Fg56KFg56;975;]56JP9;’R@‹ƒ./JH
8:>D;]56R`5JP9;’R@;]56‡1.‹/;CB5:9`55]O.+.D>D8:4X5=:X9;:C
56m5:M5DQfC:FP5669XOOM5: 0-/,CA5]O.++;]561.2+/
S4JP95]O.+.;34565]O5HBDV56;BKaK97CD:x5:;]56OM5:D>D8:4X5
=:X9;:C56m5:M5R`5+ 0ƒ/JHD>D8:4X5KEC;F;H9D:n5:56m5:M5R`501/,
*5]O.+.69XO./S4JP95]O 056CB`55:W5RHL4DV56;BKa;^=
;3C56JH4J9@D;]56OM5:H9SX5D\K~5:JV:y5:
!\9JP956C•5J\5;:y5]O.+.;]565:Ž+ƒ‹/S4JP95]O 05]O
.++;]56‡.‡2/S4JP95]O.+.Jy}
!\9JP95e=:X9;3XDUADV56;B5]O.+.69XO12ƒ/S4JP95]O 0
Dp;:?RHL45e56m5:M5DUADV56;B69XO5:Ž-+/JH5eLH9:M5DUADV56;B
69XOOM5:‡‡‹1/,]O.++;:y5e=:X9;3X;]561‹12/;3456KQ5e56m5:M5
;]56OM5:ƒ0-/JH5eLH9:M569XOK>568?1-02/,
!\9JP9J\5D:USw:bC;:y5]O.+.;]56‡2-‹/S4JP95]O 05]O
.++;]56‡+0-/S4JP95]O.+.,
b. Báo cáo hoạt động kinh doanh ( Phụ lục 2 – Bảng 2.4)
CA=:W5;nD:c>4D>4:4M;K[56895:L4A5:;v5]O 0$.++DUADV56;B;A
;:dB 5]O.+.;]56OM5:+ƒ2.‹/S4JP95]O 056CB`55:W5RHL4
L4A5:;:Cc>5:H56JHDC56Dd=L~D:Jp;]562‡/S4JP95]O 0D>D
8:4X569XO;3vL4A5:;:CRH8:V56K>568?5`5L4A5:;:C;:CE5DUADV56;B
;]56;Fg56KFg56;’R@+ƒ2.‹/,
2.2.2. Phân tích khối
Bảng cân đối kế toán– phụ lục 2 – bảng 2.5
CA=:W5;nD:8:\9cX56*%;A;:dB}
7;H9SX5};’;3s56D:9<O;’;3s563d;DA4DA4:g5¡;i56;H9SX55]O
 0D:9<O‹.ƒ‹/5]O.+.D:9<O‹00/5]O.++D:9<Oƒƒƒ./,
D:9<O;’;3s56DA456CB`55:W5RHL4975JHD>D8:4X5;Fg56KFg56;975JH
H56;•58:4D:9<O;’;3s56DA4;3456N;n5:S95:Re98:V56DA4,CB
5:9`5DV56;BKA56DQfC:FP5669XOD:UB<CRH69XO5:b568:4X5=:X9

b. Nhận xét thông số khả năng thanh toán

%:X5]56;:A5:;4>5DUADV56;B5]O.+.;]56S4JP95]O 0
56CB`55:W5RHL4DV56;B69XOOM5:J9@DS•Lp56J\5JAB56m5:M5D:4:4M;
K[56895:L4A5:,%:X5]56;:A5:;4>5DUADV56;B5]O.++69XOS4JP95]O
.+.L4;34565]ODV56;BD:UK[5669A;]56OM5:J9@DS•Lp56J\5JAB56m5
:M5D:4:4M;K[56895:L4A5:K?69A;]56SX5RFe56SX5fCd;K>=Z565:CDEC
56HBDH56RP5:g5DUA8:>D::H56,3456D>D5]OuCA5:y5D:C568:X5]56
;:A5:;4>5DUADV56;BKFeD69b8:>i5K~5:JP9OZDK[LA4K[568:V56RP5,
@S\8:X5]56;:A5:;4>55:A5:JH;:A5:;4>5:9@5;:G9K7CRP5:g5+D:4
;:dBDV56;BJk569bKFeDOZDA5;4H5;3456:4M;K[56,
c. Nhận xét thông số hoạt động


:?:9@5STDX9;:9@53d;5:A5:JHOM5:;3456D>D5]OuCA5i9c^;5:d;
RHJz56uCABD>D8:4X5=:X9;:CJP9OZD;]56+RE5;3456-5]O—;]56;v‡,01
Jz565]O 0R`5+2,1+Jz565]O.++˜D:4;:dBJ~;:<DUADV56;B56HBDH56
RP5S4JP98:>D::H56SX5RFe56;9`C;:p56HBDH56RP55:F56J9@Dc>5:H56
;3XD:^OD:48:>D:56HBDH5669XO,z56uCAB:H56;•58:4Dh56KA56DX9
;:9@53d;;\;—;]56;v,0Jz565]O 0R`52,+Jz565]O.++˜8:9SX5=:rO
;9`C;:pDUADV56;BKA56DQ;9<5;39?5;\;JHJ9@DLT;3b:H56;•58:48:>:e=R…,
z56uCAB;H9SX5Dh56KA56KFeDDX9;:9@5—;v+,++Jz565]O 0R`5+,ƒ‹
Jz565]O.++˜D:4;:dBJ9@DS•Lp56;H9SX5DUADV56;BKA5656HBDH56DQ
:9@CuCX,
d. Nhận xét cơ cấu vốn

gDdCJ\5DUADV56;B;34565]O.++8:>A5;4H5JP9OZDJAB5e8:V56uC>
DA4—JP9:@S\5eD:x8:4X56-ƒ/˜,!|Dc9@;ft;;3456D>D5]OuCADV56;B
KA56DQSTDX9;:9@5;nD:DTD3€3@;;3456DgDdCJ\58:9;xR@J\5D:USw
:bC„;i56;H9SX5KA56;]56LE58:>;\;—;v2,1‡/5]O 0R`5‡,12/5]O