{"id":973,"date":"2021-05-03T16:48:45","date_gmt":"2021-05-03T15:48:45","guid":{"rendered":"https:\/\/agripedia.ch\/terminologie\/?page_id=973"},"modified":"2024-04-29T14:13:34","modified_gmt":"2024-04-29T13:13:34","slug":"annexe-10-calculs-dactualisation","status":"publish","type":"page","link":"https:\/\/agripedia.ch\/terminologie\/fr\/annexes\/annexe-10-calculs-dactualisation\/","title":{"rendered":"Annexe 10 : Calculs d&#8217;actualisation"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1144px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><script src=\"https:\/\/polyfill.io\/v3\/polyfill.min.js?features=es6\"><\/script>\n<script id=\"MathJax-script\" async src=\"https:\/\/cdn.jsdelivr.net\/npm\/mathjax@3\/es5\/tex-mml-chtml.js\"><\/script><div class=\"fusion-title title fusion-title-1 fusion-sep-none fusion-title-text fusion-title-size-two\"><h2 class=\"fusion-title-heading title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;--fontSize:40;line-height:1.5;\">Calculs d\u2019actualisation<\/h2><\/div><div class=\"fusion-text fusion-text-1\"><p class=\"western\" lang=\"fr-CH\">Les trois m\u00e9thodes de calcul les plus couramment utilis\u00e9es sont :<\/p>\n<ul>\n<li>\n<p lang=\"fr-CH\">m\u00e9thode de la valeur actualis\u00e9e nette;<\/p>\n<\/li>\n<li>\n<p lang=\"fr-CH\">m\u00e9thode du taux de rentabilit\u00e9 interne;<\/p>\n<\/li>\n<li>\n<p lang=\"fr-CH\">m\u00e9thode des annuit\u00e9s.<\/p>\n<\/li>\n<\/ul>\n<p class=\"western\" lang=\"fr-CH\">Toutes les trois s\u2019appuient sur la formule math\u00e9matique suivante :<\/p>\n<p lang=\"fr-CH\">\\(C = \\frac + \\frac + \u2026 + \\frac + \u2026 + \\frac \\)<\/p>\n<p lang=\"de-DE\" align=\"justify\">ou<\/p>\n<p lang=\"de-DE\" align=\"justify\">\\(C = \\sum\\limits_^n \\frac \\)<\/p>\n<p align=\"justify\">\\(C\\) = valeur du capital actuel, (somme des valeurs des exc\u00e9dents entre recettes et d\u00e9penses actualis\u00e9s, ou actualisation des flux de tr\u00e9sorerie disponible ou \u201cdiscounted cashflow\u201d)<br \/>\n\\(R\\) = recettes<br \/>\n\\(D\\) = d\u00e9penses<br \/>\n\\(j\\) = p\u00e9riode consid\u00e9r\u00e9e<br \/>\n\\(n\\) = nombre de p\u00e9riodes<br \/>\n\\(i\\) = taux d\u2019int\u00e9r\u00eat calcul\u00e9<\/p>\n<p align=\"justify\">\\(r\\) = facteur d\u2019actualisation = \\((1 +\\ frac)\\)<\/p>\n<p class=\"western\" lang=\"fr-CH\" align=\"justify\">Le fait que le nombre de p\u00e9riodes, ainsi que les recettes et les d\u00e9penses correspondantes sont connues ou pr\u00e9visibles, constitue une particularit\u00e9 suppl\u00e9mentaire, commune \u00e0 ces trois m\u00e9thodes.<\/p>\n<p class=\"western\" lang=\"fr-CH\" align=\"justify\">Lors de l\u2019emploi de la <b>m\u00e9thode de la valeur actualis\u00e9e nette<\/b>, un taux d\u2019int\u00e9r\u00eat (calcul\u00e9) correspondant \u00e0 ceux pratiqu\u00e9s sur le march\u00e9 est introduit dans la relation math\u00e9matique. Le r\u00e9sultat de cette op\u00e9ration de math\u00e9matique financi\u00e8re est la valeur actualis\u00e9e nette. Cette derni\u00e8re doit \u00eatre positive pour que l\u2019investissement soit rentable.<\/p>\n<p class=\"western\" lang=\"fr-CH\" align=\"justify\">Le principe, lors de l\u2019emploi de la <b>m\u00e9thode du taux de rentabilit\u00e9 interne<\/b>, est d\u2019\u00e9galer la valeur actualis\u00e9e nette \u00e0 z\u00e9ro. On recherche alors un taux d\u2019int\u00e9r\u00eat devant satisfaire la relation math\u00e9matique. Le taux d\u2019int\u00e9r\u00eat recherch\u00e9 est justement d\u00e9sign\u00e9 comme le taux de rentabilit\u00e9 interne. Si celui-ci est plus \u00e9lev\u00e9 qu\u2019un taux de base de r\u00e9f\u00e9rence, l\u2019investissement est alors rentable. Ce proc\u00e9d\u00e9 math\u00e9matique exigeant est g\u00e9n\u00e9ralement obtenu \u00e0 l\u2019aide de calculs it\u00e9ratifs.<\/p>\n<p class=\"western\" lang=\"fr-CH\" align=\"justify\">La <b>m\u00e9thode des annuit\u00e9s<\/b> prend en consid\u00e9ration la moyenne des r\u00e9sultats de la p\u00e9riode consid\u00e9r\u00e9e. D\u2019un point de vue math\u00e9matique, cette m\u00e9thode est un prolongement de la m\u00e9thode de la valeur actualis\u00e9e nette. Pour obtenir cette moyenne, on multiplie la valeur actualis\u00e9e nette par le coefficient d\u2019annuit\u00e9.<\/p>\n<p align=\"justify\">Coefficient d\u2019annuit\u00e9: \\( \\frac\\)<\/p>\n<p class=\"western\" lang=\"fr-CH\">Ainsi, l\u2019annuit\u00e9 (\\(A\\)) vaut :<\/p>\n<p align=\"justify\">\\( A = C \\cdot \\biggl[ \\frac \\biggr] = \\biggl[ \\sum\\limits_^n \\frac \\biggr] \\cdot \\biggl[ \\frac \\biggr] \\)<\/p>\n<p align=\"justify\">L\u2019investissement est rentable si l\u2019annuit\u00e9 est positive.<\/p>\n<\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-blend:overlay;--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><a class=\"fusion-modal-text-link agri-feedback-link\" data-toggle=\"modal\" data-target=\".fusion-modal.feedback_form_fr\" href=\"#\">Vous avez trouv\u00e9 une erreur ? 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