Analysis of profitability of financial bills. The bill can be issued both with discount, and with payment of the fixed percent to face value at the time of repayment (the percentage bill). From the point of view of the quantitative analysis in the first case the bill represents discount paper the income on which represents a difference between the buying price and face value. Therefore profitability of such bill is defined similar to profitability of any obligation realized with discount and repaid face value:
If in a consent with the previous paragraph the notice is sent someone put the signature on the draft, the same notice has to be sent to the same time to the one who gave for it an aval.
If the bill holder satisfied the claim to one of endorsees, the last can also make, in turn, the claim, but only to the previous endorsees since the nadpisatel following it cease to bear responsibility on this bill.
Ratio (and (reflect a balance situation in the market (i.e. "fair" distribution of the income according to a market rate of Y and in proportion to a period of storage of paper of each of the parties). Any deviation in this or that party will cause redistribution of the income in favor of one of participants of the transaction.
Process of estimation of cost of the bill issued with discount consists in determination of modern size of an elementary stream of payments on a formula of simple percent proceeding from the demanded standard of profitability of Y.
In particular, information closeness of the market is observed. This problem is sharpest and connected with inaccessibility of information on the bills which are in circulation, release procedure, repayment, the facts of loss or plunder of bills, summary data, financial statements of the drawer.
If the return bill of exchange is issued by the bill holder, its sum is determined at the rate for the drafts term upon presentation of issued on a residence of the responsible person in a payment place on the initial bill. If the return bill of exchange is issued by the endorsee, its sum is determined at the rate for the drafts term upon presentation of issued on a residence of the guaranteeing person in a residence of the drawer according to the return bill of exchange.
Participants of the market cannot use the standard technology of commission of operations yet. It is connected with that there is no the unified order of release and repayment of bills, their checks on authenticity, the settled document of a turn and a procedure of payments according to the made transactions in the secondary market.
Thus, at observance of the corresponding conditions it is possible to use accounts "The bills issued" and "The bills received" for the accounting of the operations connected with participation of an economic entity in circulation of bills. Most likely, these accounts as accounts of the accounting of calculations for bills, have to enter the section VI of Book of accounts - "Calculations" where there are two free codes of accounts: 66 and 7
The bill holder is obliged to inform without delay the endorsee on a case of force majeure and to make on the draft or on an additional leaf a mark about this notice, having specified its date and having put the signature; rules of article 4 are for the rest applied
If the bill is placed face value, its income is defined by the declared interest rate of r. In this case the bill represents a security with payment of the fixed income at the time of repayment.
If the bill is on sale (is bought) between dates of issue and repayments, the absolute value of the income of S will be distributed between the seller and the buyer according to a market rate (standard of profitability of the buyer) of Y at the moment of time and in proportion to term
Determination of modern cost of percentage bills. Taking into account accumulation at the time of carrying out operation of the income the cost of the obligation () meeting the demanded standard of profitability of Y can be determined from a ratio: