LEVELS OF RETURN, RESERVES OF INVESTMENT BREAK-EVEN AND АCCEPTABILITY OF THE PROJECT
In the article as a part of the dynamic break-even analysis (i.e. taking into account time value of money) issues of financial stability of investment projects are considered. The authors consider three levels of project return which have fundamental meaning: break-even level, acceptability level and really achieved level. The authors for the first time work out formulas evaluating volume of output of products of the project corresponding to the different levels of project return. Basing on these formulas the authors for the first time introduce concepts of reserves of investment break-even and acceptability of the project. Formulas evaluating measure of these reserves by meanings of the basic indicators of effectiveness of projects are adduced. The case of production of several kinds of products within the investment project is also considered.