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Microfinance phần 9

Cuối cùng, hệ thống khuyến khích có thể là một công cụ hữu ích để đạt được các mục tiêu hiệu suất, tính bền vững và tiếp cận đầy đủ cấu trúc. Trong thực tế, hệ thống khuyến khích có thể ám chỉ hiện tượng chẳng hạn như lựa chọn bất lợi và nguy cơ của hành vi trộm cắp và gian lận nội bộ hay các hoạt động trái phép. | Microfinance Performance 129 is costly debt can be more volatile but also less costly than equity in particular soft loans grants are the less stable source of funds but they are by definition free. Thus a different composition of funding may impact on the MFI s overall performance and can be taken as a measure of how financially viable it is in the medium and long term. Moreover the funding structure affects the capability of the MFI by taking advantage of the business opportunities. 7.4.5 Accounting adjustments for performance evaluation The accounting adjustments for performance measurement can be classified in four categories subsidy adjustments inflation adjustments adjustments for non-performmg loans edjustments tor cutrenty gains losses Box 7.16 . The enquited accounting odjuttments forthe analysis of subsidies received Ibucl parformto s-l ol Sowing twots sgti to make comparable the oetfotmtnenofMFis reonivint tndiibien with those that do not receioe titbtoiics to analyse the degree of dependence of the MFI s economic-financial balance on subsidies. The adjustments for inflation aneperfdtmedbecantetheaccountinuvaluns reported in the financial slattonceiboithc M Fit ean ho sigosficantib affected by the increase in opestting oxe tn set when ths mtrroenonomic context in which the institutionsopetaSeis charactntrzed by inflation. Box 7.16 Accounting adjustments 7.16.1 Subsidy adjustments . subsidized cost of funds adjustment . in-kind subsidy adjustments donations. 7.16.2 Inflation adjustments 7.16.3 Adjustments for non-performing loans adjustment of loan loss reserves provisional expenditures adjustments for write offs reversal of interest accrued on non-performing loans. 7.16.4 Adjustments for currency gains losses 130 Microfinance The corrections thus allow for comparability of the financial statements and the performance indicators in time and in space. The adjustments for non-performing loans are necessary in order to offer relevant economic and financial .