INTRODUCTION

A market economy requires a trade enterprise to increase the efficiency of activities, the competitiveness of goods and services sold through the introduction of the achievements of scientific and technological progress, effective forms of management, qualified marketing and management of trading activities, overcoming mismanagement, enhancing entrepreneurship, initiative, etc.

I did my internship at the trading company "Matritsa" LLC in Ufa, Tramvaynaya street, 4b.

The relevance of my research in the activities of Matrix LLC is determined by the fact that in modern economic conditions, the activities of each economic entity, especially commercial enterprise is the subject of attention of a wide circle of participants in market relations (organizations and individuals) interested in the results of its functioning. Based on the reporting, accounting and marketing information available to them, these persons seek to assess the financial position of the enterprise. The main tool for this is financial, economic and marketing analysis, with which you can objectively assess the internal and external relations of the analyzed object: to characterize its solvency, efficiency and profitability of activities, development prospects, and then, based on its results, make the main decisions.

The purpose of my work is based on the study of the marketing policy, as well as the current and medium-term plans of Matrix LLC, to analyze and evaluate the economic activity of a trading enterprise.

To achieve this goal, we define a number of tasks that must be solved in the process of my work:

To give a general description of the trade enterprise OOO "Matrix" on the basis of the charter of the enterprise;

To study enterprise marketing management;

Consider in detail the readiness of a trading enterprise for strategic management;

Describe the commercial activities of the organization;

To study the personnel of the enterprise, describe the system of motivation and stimulation of the work of the personnel of the enterprise;

The object of the study is the retail trade enterprise "Matrix" LLC.

The subject of the study is the trading and marketing activities of Matrix LLC.

The structure of the work consists of an introduction, five chapters, a conclusion, a list of references and applications.

1. GENERAL CHARACTERISTICS OF THE TRADING ENTERPRISE

Society with limited liability"Matrix" (LLC "Matrix") as a legal entity was registered by the Decree of the Head of the Administration of Ufa on 08.12.2000 No. 1181 as amended on 04.06.2004 No. 1208.

Matrix LLC was established in accordance with the Civil Code of the Russian Federation, adopted by the State Duma of the Russian Federation on October 21, 1994 and federal law"On Limited Liability Companies" dated February 8, 1998, as well as on the basis of the decision of the founders.

Legal address of Matrix LLC. This enterprise is a legal entity from the moment of its state registration, owns separate property, which is rented from the municipality (the agreement is concluded with the Property Management Committee of Ufa), has an independent balance sheet, current account, round seal, trademark and other details. Shopping room LLC "Matrix" is located at 450027 in Ufa, Republic of Bashkortostan, Tramvaynaya st., 4b.

The purpose of creating Matrix LLC is to more fully saturate the market with consumer goods and services to meet the needs of organizations and individuals, as well as create additional jobs and make a profit.

The subject of activity of the enterprise in accordance with the charter of the Company is:

retail trade in computers, monitors, copiers, and numerous components for computers and office equipment;

implementation of economic, commercial, trade-intermediary and trade-purchasing activities,

rendering additional services customers, including service activities;

other activities not prohibited by law.

The activities of the company are carried out in accordance with the law of the Russian Federation "On Licensing".

Matrix LLC is obliged in accordance with the Charter:

fulfill the obligations arising from the legislation of the Russian Federation and the agreements concluded by it,

conclude employment contracts,

fully and on time to pay the employees of the enterprise for wages and social benefits

carry out all types of compulsory insurance,

submit income tax returns and financial statements in a timely manner,

pay taxes in accordance with tax laws.

Matrix is ​​one of the leading computer technology companies in Ufa and the Republic of Bashkortostan.

The professional status of the enterprise is confirmed by state licenses and certificates from leading Russian and European suppliers of equipment, software, solutions and technologies.

Matrix LLC offers the whole range of computer equipment, multimedia, network equipment, technical literature and much more that you may need to equip the most modern workplace both in business and at home. It cooperates with a number of organizations operating in the city of Ufa and the Republic of Bashkortostan, provides service support for the entire fleet of office equipment of its customers, consults on technical issues, supplies the necessary consumables, installs software and much more.

2. ENTERPRISE MARKETING MANAGEMENT

Analysis of the factors of the macro environment of the enterprise.

It is quite obvious that the well-being of the Matrix company depends not only on the activities of the company itself and its employees, but also on the confrontation of marketing complexes used by various firms, on trends and events taking place in the marketing environment.

The macroenvironment is represented by the forces of a broad social plan, which influence the enterprise itself and its microenvironment. These forces include demographic, economic, natural, technical, political and cultural factors.

In the analysis of demographic factors and the social environment, the influence of the following factors was revealed:

amount potential consumers(population structure, changes in individual groups);

availability and potential number of consumers of computer equipment;

qualification characteristics of consumers of computer equipment.

The most important component of the social environment is the socio-cultural environment. The study of these factors is quite important for strategic management, because. they influence the motivation of consumers and employees. The following aspects can be attributed to the socio-cultural environment:

traditions and cultural values, level of education;

relations of society members to each other;

acceptance or rejection of computerization;

attitudes of enterprises and public organizations to computer technology;

attitudes towards new computer technologies and PCs;

Greatest positive influence the number of potential consumers and the qualification characteristics of computer equipment affect the company's activities.

Consider now the economic factors.

The study of the economic environment allows us to understand how society's resources are formed and distributed. It is quite obvious that this knowledge is vital for a company selling computer equipment, since it (the company) just builds its activities on the use of resources. When considering the economic environment, the enterprise paid attention to the following factors:

the nature of the economy and economic processes(including the impact of inflation and deflation);

the scale of government support for individual industries (taxes and taxation);

general conjuncture of the national, regional market;

bid bank interest(necessary subject to the provision of loans);

pricing system and the level of centralized price regulation.

The following factors have the greatest positive impact on the company:

the size and rate of change in the size of the market;

size and growth rates of market segments in accordance with the interests of the company;

And the factors that have the greatest negative impact are:

general level of economic development;

the taxation system and the quality of economic legislation;

the level of development of competitive relations.

The influence of scientific and technical factors is manifested in the global trends in the development of electronic, computer high-tech means of communication, which has a negative impact on trade computer technology and technologies. Among the factors that have the greatest positive impact, it should be noted:

the emergence of "technological breakthroughs";

staff qualification requirements.

The next element of the analysis of the marketing environment of the enterprise is its internal environment or microenvironment.

The term " analysis”has its origin from the Greek language, where the word “analysis” means dismemberment, fragmentation of an object or phenomenon into separate elements in order to study this object or phenomenon in detail. The opposite is the concept synthesis" (it comes from the Greek word "synthesis"). Synthesis is a combination of individual components of an object or phenomenon into a single whole. Analysis and synthesis are two interrelated aspects of the process of studying any objects and phenomena.

Economic Sciences, including economic analysis, belong to the totality of the humanities, and the object of their research is economic processes and phenomena.

Economic analysis is included in a group of interrelated specific economic disciplines, which, in addition to it, includes control, audit, micro-and, and other sciences. They study the economic activity of organizations, but each from a certain point of view, characteristic only for it. Therefore, each of these sciences has its own, independent subject.

Economic analysis and its role in the management of the organization

Economic analysis(otherwise - ) plays an important role in increasing economic efficiency activities of organizations, in strengthening their financial condition. It is an economic science that studies economics of organizations, their activities in terms of assessing their work on the implementation of business plans, assessing their property and financial condition and in order to identify untapped reserves to improve the efficiency of organizations.

The subject of economic analysis is the property and financial condition and the current economic activity of organizations, studied in terms of its compliance with the tasks of business plans and in order to identify unused reserves to improve the efficiency of the organization.

Economic analysis is subdivided on the interior and external depending on the subjects of the analysis, that is, on the bodies that carry it out. The most complete and comprehensive is the internal analysis carried out by the functional departments and services of the organization. The external analysis carried out by debtors and creditors and others, as a rule, is limited to establishing the degree of stability of the financial condition of the analyzed organization, its liquidity, both at reporting dates and in the future.

Objects of economic analysis are the property and financial position of the organization, its production, supply and marketing, financial activities, the work of individual structural divisions of the organization (shops, production sites, teams).

Economic analysis as a science, as a branch of economic knowledge, and finally, as academic discipline closely interconnected with other specific economic sciences.

Laughter number 1. The relationship of economic analysis with various economic sciences

Economic analysis is a complex science that uses, along with its own, also the apparatus inherent in a number of other economic sciences. Economic analysis, like other economic sciences, studies the economics of individual objects, but from an angle peculiar only to it. It gives an assessment of the state of the economy of a given object, as well as its current economic activity.

Principles of economic analysis:

• Scientific. Analysis must comply with the requirements of economic laws, use the achievements of science and technology.
• Systems approach. Economic analysis must be carried out taking into account all the laws of the developing system, that is, to study the phenomena in their interconnection and interdependence.
• Complexity. In the study, it is necessary to take into account the impact on the economic activity of the enterprise of many factors.
• Research in dynamics. In the process of analysis, all phenomena should be considered in their development, which allows not only to understand them, but also to find out the causes of changes.
• Highlighting the main goal. An important point in the analysis is the formulation of the research problem and the identification of the most important reasons that hinder production or hinder the achievement of the goal.
• Concreteness and practical usefulness. The results of the analysis must necessarily have a numerical expression, and the reasons for the change in indicators must be specific, indicating the places of their occurrence and ways to eliminate them.

Method of economic analysis

The word "method" came into our language from the Greek language. In translation, it means "the path to something." Therefore, the method is, as it were, a way to achieve the goal. In relation to any science, a method is a way of studying the subject of this science. The methods of any sciences basically have a dialectical approach to the study of the objects and phenomena they consider. Economic analysis is no exception here.

The dialectical approach means that all processes and phenomena taking place in nature and society should be considered in their constant development, interconnection and interdependence. So economic analysis studies the indicators characterizing the activities of any organizations, comparing them over several reporting periods (in dynamics), as well as in their change. Further. Economic analysis considers various aspects of the organization's activities in unity and interconnection, as elements of a single process. So, for example, the volume of sales of products depends on its output, and the fulfillment of the planned target for profit depends mainly on

The method of economic analysis is determined by its subject and the challenges ahead.

Methods and techniques, used in , are subdivided into traditional, statistical and . They are discussed in detail in the relevant sections of the site.

In order to practically implement the use of the method of economic analysis, certain techniques have been developed. They are a set of methods and techniques used to optimally solve analytical problems.

The techniques used in economic analysis at individual stages of analytical work involve the use of various techniques and methods.

The key moment of the method of economic analysis is the calculation of the influence of individual factors on economic indicators. The relationship of economic phenomena is a joint change in two or more of these phenomena. There are various forms of interconnections between economic phenomena. The most significant among them is the causal relationship. Its essence lies in the fact that a change in one economic phenomenon is caused by a change in another economic phenomenon. Such a relationship is called deterministic, otherwise - a causal relationship. If two economic phenomena are connected by such a relationship, then the economic phenomenon, the change of which causes a change in the other, is called the cause, and the phenomenon that changes under the influence of the first is called the effect.

In economic analysis, those signs that characterize the cause are called factorial, independent. The same signs that characterize the consequence are usually called resultant, dependent.

See further:

So, in this paragraph, we examined the concept of the method of economic analysis, as well as the most important methods (methods, techniques) used in the analysis of the organization's activities. We will consider these methods and the order of their use in more detail in special sections of the site.

Tasks, sequence of conducting and procedure for processing the results of economic analysis

The most complete and deep is the internal (intraeconomic) analysis, carried out, as a rule, by the functional departments and services of a given organization. Therefore, internal analysis faces much more numerous tasks than external analysis.

The main tasks of the internal analysis of the organization's activities should be considered:

1. verification of the validity of the tasks of business plans and various standards;
2. determination of the degree of fulfillment of tasks of business plans and compliance with established standards;
3. calculation of the influence of individual on the magnitude of the deviation of the actual values economic indicators from basic
4. finding on-farm reserves to further improve the efficiency of the organization and ways of mobilization, that is, the use of these reserves;

Of the listed tasks of internal economic analysis, the main task is to identify reserves in a given organization.

Before external analysis, in essence, there is only one task - to assess the degree both at a certain reporting date and in the future.

The results of the analysis carried out are the basis for the development and implementation of optimal ones that improve the efficiency of organizations.

In the process of conducting economic analysis, methods of induction and deduction.

Induction method(from particular to general) suggests that the study of economic phenomena begins with individual facts, situations and proceeds to the study of the economic process as a whole. Method same deduction(from general to particular) is characterized, on the contrary, by the transition from general indicators to particular ones, in particular, to the analysis of the influence of individual ones on generalizing ones.

The most important in conducting economic analysis is, of course, the deduction method, since the sequence of analysis usually involves the transition from the whole to its constituent elements, from synthetic, generalizing indicators of the organization's activities to analytical, factor indicators.

When an economic analysis is carried out, all aspects of the organization's activities, all the processes that make up the production and commercial cycle of the organization, are examined in their interconnection, interdependence and interdependence. Such a study is the key moment of the analysis. It bears the name.

After the end of the analysis, its results should be formalized in a certain way. For these purposes, explanatory notes to annual reports, as well as certificates or conclusions based on the results of the analysis are used.

Explanatory notes intended for external users of analytical information. Consider what should be the content of these notes.

They should reflect the level of development of the organization, the conditions in which its activities take place, it should be characterized, on it, data on product sales markets, etc. Information should also be provided on the stage at which each type of product is on the market. (These include stages of introduction, growth and development, maturity, saturation and decline). In addition, it is necessary to provide information about the competitors of this organization.

Then, data on the main economic indicators should be presented for several periods.

Those factors that influenced the organization's activities and its results should be indicated. one should also cite those measures that are planned to eliminate shortcomings in the organization's activities, as well as to increase the efficiency of this activity.

References, as well as conclusions based on the results of the economic analysis, may have more detailed content compared to explanatory notes. As a rule, references and conclusions do not contain generalized characteristics of the organization and the conditions for its functioning. The main emphasis here is on describing reserves and how to use them.

The results of the study can also be presented in non-textual form. In this case, the analytical documents contain only a set of analytical tables and there is no text characterizing the economic activity of the organization. This form of registration of the results of the conducted economic analysis is now being used more and more widely.

In addition to the considered forms of processing the results of the analysis, the introduction of the most important of them into certain sections will also be applied. economic passport of the organization.

These are the main forms of generalization and presentation of the results of the economic analysis. It should be borne in mind that the presentation of the material in explanatory notes, as well as in other analytical documents, should be clear, simple and concise, and should also be linked to analytical tables.

Types of economic analysis and their role in the management of the organization

Financial and managerial economic analysis

Economic analysis can be subdivided into different types according to certain characteristics.

First of all, economic analysis is usually divided into two main types - the financial analysis and managerial analysis- depending on the content of the analysis, the functions it performs and the tasks facing it.

The financial analysis, in turn can be subdivided into external and internal. The first is carried out by statistical authorities, higher organizations, suppliers, buyers, shareholders, audit firms, etc. The main external financial analysis is , her and. It is carried out at the organization itself by the forces of its accounting department, financial department, planning department, other functional services. Internal financial analysis solves a much wider range of tasks compared to the external one. Internal analysis studies the effectiveness of the use of equity and borrowed capital, explores, identifies reserves for the growth of the latter and strengthening the financial condition of the organization. Internal financial analysis, therefore, is aimed at developing and implementing optimal ones that contribute to improving the financial performance of a given organization.

Management analysis, as opposed to financial is internal. It is carried out by the services and departments of this organization. He studies issues related to the organizational and technical level and other conditions of production, using certain types production resources ( , ), analyzes , its .

Types of economic analysis depending on the functions and tasks of the analysis

Depending on the content, functions and tasks of the analysis, the following types of analysis are also distinguished: socio-economic, economic-statistical, economic-environmental, marketing, investment, functional-cost (FSA), etc.

Socio-economic analysis examines the relationship and interdependence between social and economic phenomena.

Economic and statistical analysis used to study mass socio-economic phenomena. Economic-ecological analysis studies the relationship and interaction between the state of ecology and economic phenomena.

Marketing Analysis aims to study the markets for raw materials and materials, as well as the markets for finished products, the ratio of these products, the products of this organization, the level of prices for products, etc.

Investment analysis is aimed at choosing the most effective options for the investment activities of organizations.

Functional cost analysis(FSA) is a method of systematic study of the functions of a product, or any production and economic process, or a certain level of management. This method aims to minimize the cost of designing, mastering production, selling products, as well as industrial and domestic consumption of these products under the conditions of their high quality, maximum utility (including durability).

Depending on the aspects of the study, there are two main types (directions) of analysis of economic activity:

• financial and economic analysis;
• technical and economic analysis.

The first type of analysis studies the influence of economic factors on the implementation of business plans in terms of financial indicators.

A feasibility study examines the impact of engineering, technology and production organization factors on economic performance.

Depending on the completeness of coverage of the organization's activities, two types of analysis of economic activity can be distinguished: full (complex) and thematic (partial) analysis. The first type of analysis covers all aspects of the financial and economic activities of the organization. Thematic analysis studies the effectiveness of certain aspects of the organization's activities. Economic analysis can also be divided according to the objects of study. Microeconomic and macroeconomic analysis. Microeconomic analysis studies the activities of individual economic units. It can be divided into three main types: intrashop, shop and factory analysis.

Macroeconomic it can be sectoral, that is, study the functioning of a particular sector of the economy or industry, territorial, which analyzes the economy of individual regions, and, finally, intersectoral, which studies the functioning of the economy as a whole.

a separate sign classification of types of economic analysis is a division of the latter by subjects of analysis. They are understood as those bodies and persons who carry out the analysis.

The subjects of economic analysis can be divided into two groups.

1. Directly interested in the activities of the organization. This group may include the owners of the funds of the organization, tax authorities, banks, suppliers, buyers, management of the organization, individual functional services of the analyzed organization.
2. Subjects of analysis indirectly interested in the activities of the organization. These include legal organizations, audit firms, consulting firms, trade union bodies, etc.

Economic analysis depending on the timing

Depending on the time of the analysis (in other words, on the frequency of its implementation), there are: preliminary, operational, final and prospective analysis.

preliminary analysis allows you to assess the state of this object when developing a business plan. For example, the production capacity of the organization is assessed, whether it is able to provide the planned volume of production.

Operational(otherwise current) analysis is carried out on a daily basis, directly in the course of current activities organizations.

final(subsequent, or retrospective) analysis examines the effectiveness of the economic activities of organizations for the past period.

Perspective analysis is used to determine expected results in the coming period.

Forward-looking analysis is critical to ensure the success of the organization in the future. This type of analysis examines possible options development of the organization and outlines ways to achieve optimal results.

Types of economic analysis depending on the research methodology

Depending on the methodology used to study objects in the economic literature, it is customary to subdivide the analysis of economic activity into the following types: quantitative, qualitative, express analysis, fundamental, marginal, economic and mathematical.

Quantitative(otherwise) analysis is based on quantitative comparisons, measurement, comparison of indicators and the study of the influence of individual factors on economic indicators.

Qualitative Analysis uses qualitative comparative assessments, characteristics, and expert opinions analyzed economic phenomena.

Express analysis- this is a way to assess the economic and financial condition of the organization on the basis of certain signs that express certain economic phenomena. Fundamental analysis is based on a comprehensive, detailed study of economic phenomena, usually based on the use of economic-statistical and economic-mathematical research methods.

Margin analysis explores ways to optimize the amount of profit received as a result of sales of products, works, services. Economic and mathematical analysis is based on the use of a complex mathematical apparatus, with the help of which the best option solutions of any economic-mathematical model.

Dynamic and static economic analysis

According to its nature, economic analysis can be divided into two following: dynamic and static. The first type of analysis is based on the study of economic indicators taken in their dynamics, that is, in the process of their change, development over time, for several reporting periods. In the process of dynamic analysis, indicators of absolute growth, growth rate, growth rate, absolute value of one percent growth are determined and analyzed, and dynamic series are constructed and analyzed. Static analysis assumes that the studied economic indicators are static, that is, unchanged.

According to the spatial basis, economic analysis can be divided into the following two types: internal (on-farm) and inter-farm (comparative). The first one studies the activities of this organization and its structural divisions. In the second type, the economic indicators of two or more organizations are compared (the analyzed organization with others).

According to the methods of studying the object of analysis, it is divided into the following types: complex, system analysis, continuous analysis, selective analysis, correlation analysis, regression analysis, etc. The most important is a comprehensive final analysis of the activities of organizations, comprehensively studying their work for the reporting period; the results of this analysis are used for both short-term and long-term forecasting.

Operational economic analysis

Operational economic analysis applied at all levels of government. The share of operational analysis in making optimal management decisions increases with approach to individual organizations and their structural divisions.

The most important feature of operational analysis is that it is as close as possible in time to the implementation of individual phases of the production and commercial cycle of a given organization. operational analysis promptly establishes the causes of existing shortcomings and their perpetrators, reveals reserves and promotes their timely use.

Final economic analysis

plays a very important role in the development of optimal final, subsequent analysis. The most important source of information for such an analysis is the reporting of the organization.

Final analysis gives a refined assessment of the organization's activities and its results for a certain period, ensures the identification of reasonable values ​​​​of reserves to increase the efficiency of the organization's activities, seeks ways to mobilize, that is, use these reserves. The results of the final analysis carried out by the organization itself are reflected in the explanatory note to the annual report.

The final analysis is the most complete type of analysis of the economic activities of the organization.

Introduction.

1.1 The concept of PCD analysis.

1.2 Principles of PCD analysis.

1.3 Types of PCD analysis.

1.4 Method of PCD analysis.

2.1 General overview of the economic and financial situation of the organization.

2.1.1 Characteristics of the direction of financial and economic activities.

2.1.2 Analysis of the state of "sick" reporting items.

2.2.1.1 Analysis of the integrated compacted net balance.

2.2.1.2 Assessing property dynamics.

2.2.1.3 Evaluation of formalized indicators of property status.

2.2.2 Assessment of the financial situation.

2.2.2.1 Analysis of the firm's liquidity.

2.2.2.2 Analysis of financial stability.

2.2.3 Evaluation of the effectiveness of the financial and economic activities of the organization.

2.2.3.1 Analysis business activity.

2.2.3.2 Profitability analysis.

2.3 Summary.

Conclusion.

Application.

Literature.

Introduction

With the transition of Russia to a market economy, the analysis of the financial and economic activities of enterprises is becoming increasingly important.

In the conditions of competition and the desire of enterprises to maximize profits, the analysis of financial and economic activities is an integral function of management. This aspect of company management is becoming the most significant at the present time, since the practice of market functioning shows that without an analysis of financial and economic activity, an enterprise cannot function effectively.

At present, this need seems to be recognized in Russia, although in developed countries, analysis has been the norm of entrepreneurial activity for a very long time.

This problem is well covered in the economic literature, especially recently. It is very positive that it is Russian economists who pay great attention to this, which determines the inclusion of Russian specifics in publications. Nevertheless, Western translated literature is also of great interest.

This work is devoted to the analysis of financial and economic activities. This is a very broad topic with numerous aspects. Its breadth is due to the versatility of the economic life of the company.

It is advisable to talk about the separation of the financial and economic aspects of the analysis. However, in my opinion, the integration of these aspects allows us to more fully characterize the activities of the company. In addition, these two aspects are closely related. In view of this, in this work, it was the analysis of the financial and economic activities of the enterprise that was carried out.

The first part of the work is devoted to theoretical issues of the analysis of FCD, namely the essence of the analysis, its principles and types.

A special place is given to the second, practical part of the course work, which analyzes the financial and economic activities of a really operating enterprise.

Thus, this paper considers a range of issues related to the analysis of financial and economic activities in general and in terms of the practical application of analytical procedures.

§ 1. General characteristics of the analysis of the financial and economic activities of the enterprise.

1.1 The concept of PCD analysis

Effective use of economic resources and the potential of society is impossible without studying the essence of the processes and phenomena occurring in the economy.

However, in view of the versatility and breadth of the economic life of society, the study of phenomena as a whole is extremely difficult. Significantly facilitate the study of economic processes allows the method of dividing the object of study into components - economic analysis.

Thus, economic analysis is a way of knowing objects and phenomena of the economic environment, based on the division of the whole into its constituent parts and the study of them in all the variety of connections and dependencies.

Economic analysis uses an abstract - logical method of studying economic phenomena, since here these phenomena are not of a material nature and their study is replaced by the power of abstraction, based on the analytical abilities of a person.

The need for economic analysis arose objectively, in connection with the development of productive forces and production relations. At present, analysis occupies a significant place in the knowledge system of society and is widely used to study the patterns of economic development.

There are general theoretical economic analysis, which studies economic processes and phenomena at the macro level, and specifically economic analysis at the micro level (analysis of economic activity, which is used to study the activities of economic entities).

In view of the specifics of this work, in the future it will be considered the analysis of financial and economic activities at the micro level.

1.2 Principles of PCD analysis

An analytical study of the financial and economic activities of enterprises is based on certain principles.

1. 1. state approach.

When evaluating economic phenomena and processes, it is necessary to take into account their compliance with state economic, social, international policies and legislation.

1. 2. scientific character.

The analysis should be based on the provisions of the dialectical theory of knowledge, taking into account the requirements of the economic laws of the development of production.

1. 3. Complexity.

The analysis requires a comprehensive study of causal relationships in the economy of the enterprise.

1. 4. Systems approach.

The analysis should be based on understanding the object of study as a complex dynamic system with a structure of elements.

1. 5. objectivity and accuracy.

The information used for analysis must be reliable and objectively reflect reality, and analytical conclusions must be substantiated by accurate calculations.

1. 6. Effectiveness.

The analysis must be effective, that is, actively influence the course of production and its results.

1. 7. Planning.

For the effectiveness of analytical activities, the analysis must be carried out systematically.

1. 8. Efficiency.

The effectiveness of the analysis greatly increases if it is carried out promptly and analytical information quickly affects the managerial decisions of managers.

1. 9. Democracy.

It involves participation in the analysis of a wide range of workers and, consequently, a more complete identification of on-farm reserves.

1. 10. Efficiency.

The analysis must be effective, i.e., the costs of its implementation must have a multiple effect.

1.3 Types of PCD analysis

The classification of business analysis is important for a correct understanding of its content and objectives and, therefore, for effective application in practice.

The analysis of economic activity is a multifaceted and wide phenomenon. It is classified:

by industry:

• sectoral, the specifics of which take into account the characteristics of individual industries National economy(industry, Agriculture, transport, etc.)
• intersectoral, which takes into account the interconnections and structure of sectors of the economy and is methodological basis general analysis of economic activity (AHD theory)

according to time:

• preliminary (prospective), - carried out before the implementation of business operations to justify management decisions
• operational, carried out immediately after the completion of business transactions for the prompt identification of shortcomings in the process of financial and economic activity. Its purpose is to provide the function of management - regulation.
• subsequent (retrospective, final), is carried out after the commission of economic acts. It is used to control the financial and economic activities of the enterprise.

in terms of space:

• on-farm, studies the activities of an economic entity and its structural divisions
• inter-farm, analyzes the interaction of the enterprise with contractors, competitors, etc. and allows you to identify innovate experience in the industry, reserves and shortcomings of the organization.

by objects of management

• technical - economic analysis, which studies the interaction of technological and economic processes and establishes their impact on the economic results of the enterprise.
• financial and economic analysis, which pays special attention to the financial results of the enterprise, namely, the implementation of the financial plan, the efficiency of using equity and borrowed capital, profitability indicators, etc.
• socio - economic analysis, which studies the relationship of social and economic processes to improve the efficiency of use labor resources, labor productivity, etc.
• economic - statistical analysis is used to study mass social - economic phenomena.
• economic - environmental analysis explores the interaction of environmental and economic processes for a more rational and careful use of environmental resources.
• marketing analysis, which is used to study the external environment of the enterprise, raw materials and sales markets, etc.

according to the method of studying objects:

• comparative analysis, uses the method of comparing the results of financial and economic activities by periods of economic activity.
• factor analysis is aimed at identifying the magnitude of the influence of factors on growth and the level of performance indicators.
• diagnostic, aimed at identifying violations in the mechanism of the functioning of the organization by analyzing typical signs that are characteristic only for this violation.
• marginal analysis is a method for evaluating and justifying the effectiveness of management decisions based on cause-and-effect relationships between sales volume, production cost and profit.
• economic - mathematical analysis allows you to identify the most optimal solution economic task using mathematical modeling.
• stochastic analysis is used to study stochastic dependencies between the studied phenomena and the processes of financial and economic activity of an enterprise.
• functional - cost analysis is focused on optimizing the performance of functions that are performed at various stages life cycle products.

by subjects of analysis:

• internal analysis, which is carried out by special structural divisions of the enterprise for the needs of management.
• external analysis, which is performed government bodies, banks, shareholders, investors, contractors, audit firms on the basis of financial and statistical reporting enterprises.

• complex analysis, in which the activities of the organization are studied comprehensively.
• thematic analysis, in which certain aspects of the activity are studied, which are of the greatest interest in this moment time.

1.4 PCD analysis technique

The methodology for analyzing financial and economic activities is a set of analytical procedures used to determine the financial and economic condition of an enterprise.

Various experts in the field of analysis give different methods for determining the financial and economic condition of an enterprise. However, the basic principles and sequence of the procedural side of the analysis are almost the same with slight differences.

It should be noted that the detailing of the procedural side of the methodology for analyzing financial and economic activities depends on the goals set and various factors of information, methodological, personnel and technical support, as well as the analyst's vision of the task. Therefore, we can definitely say that there is no generally accepted methodology for analyzing the financial and economic activities of an enterprise, however, in all significant aspects, the procedural aspects are similar.

The information support of the analysis is important for a third-party analyst. This is due to the fact that, in accordance with the Law of the RSFSR "On Enterprises and Entrepreneurial Activities", "An enterprise may not provide information containing a commercial secret." But, as a rule, to accept strategic decisions potential partners of the company, it is sufficient to conduct an express analysis of financial and economic activities. Even to conduct a detailed analysis of financial and economic activities, information that is a trade secret is often not required, but the depth of detail may be less. To conduct a general detailed analysis of the financial and economic activities of an enterprise, information is required according to the established forms of financial statements, namely:

q form No. 1 Balance sheet

q form No. 2 Profit and loss statement

q form No. 3 Statement of capital flows

q form No. 4 Movement report Money

q form No. 5 Appendix to the balance sheet

This information, in accordance with Decree of the Government of the Russian Federation of December 5, 1991 No. 35 "On the list of information that cannot be a trade secret" cannot be a trade secret.

Analysis of the financial and economic activities of the enterprise is carried out in three stages.

At the first stage, a decision is made on the appropriateness of the analysis of financial statements and its readiness for reading is checked. The problem of the expediency of the analysis can be solved by familiarization with the audit report on these documents. If an unconditionally positive or conditionally positive audit opinion is drawn up on the company's financial statements, then the analysis is advisable and possible, since the reporting in all material aspects objectively reflects the financial and economic activities of the enterprise.

If, however, a negative audit report is drawn up on the company's financial statements, this means that the documents do not accurately reflect the financial and economic activities of the enterprise or have significant errors, which makes the analysis impossible and irrational.

Checking the readiness of statements for reading is of a technical nature and is associated with a visual check of the availability of the necessary reporting forms, details and signatures on them, as well as the simplest accounting check of subtotals and balance sheet currency.

The purpose of the second stage is to get acquainted with the explanatory note to the balance sheet, this is necessary in order to assess the conditions for the functioning of the enterprise in this reporting period and take into account the analysis of the factors whose impact led to changes in the property and financial position of the organization and which are reflected in the explanatory note.

The third stage is the main one in the analysis of economic activity. The purpose of this stage is to evaluate the results of economic activity and the financial condition of an economic entity. It should be noted that the degree of detail of the analysis of financial and economic activities may vary depending on the goals set.

At the beginning of the analysis, it is advisable to characterize the financial and economic activities of the enterprise, indicate industry affiliation and other distinguishing features.

Then, an analysis is made of the state of “sick reporting items”, namely loss items (form No. 1 - lines 310, 320, 390, form No. 2 lines - 110, 140, 170), long-term and short-term bank loans and loans outstanding on time ( form No. 5 lines 111, 121, 131, 141, 151) overdue receivables and payables (form No. 5 lines 211, 221, 231, 241) as well as overdue bills (form No. 5 line 265).

If there are amounts under these items, it is necessary to study the reasons for their occurrence. It is very likely that only further analysis can provide exhaustive information in this case, and the final conclusions on this matter will be reflected in the summary.

Analysis of the financial and economic condition of the enterprise can be divided into three main components:

• Assessment of the property status of the organization
• Assessment of the financial position of the organization
• Evaluation of the effectiveness of the financial and economic activities of the organization.

It should be noted that these components are closely interconnected and their differentiation is necessary only for a clearer separation and understanding of the conclusions on the analytical procedures for analyzing the financial and economic activities of the organization as a whole.

Property assessment consists of the following components:

q Analysis of the integrated skewed balance - net

q Assessing property dynamics

q Analysis of formalized indicators of property status

Analysis of the integrated compacted balance sheet - net is based on the construction of a simplified balance sheet model, which integrates the absolute and relative (structural) indicators of items. This achieves the integration of "horizontal" and "vertical" analysis of the balance sheet, which, in my opinion, allows you to more fully trace the dynamics of the balance sheet items. Many experts propose to carry out "vertical" and "horizontal" analysis separately. However, some of them recognize the expediency of conducting such an integrated analysis of balance sheet items.

At assessment of property dynamics the state of all property is traced as part of immobilized assets (balance sheet section I) and mobile assets (balance sheet section II - stocks, receivables, other current assets) at the beginning and end of the analyzed period, as well as the structure of their growth (decrease).

Analysis of formalized indicators of property status consists in the calculation and analysis of the following main indicators:

• The amount of economic assets at the disposal of the enterprise

This indicator gives a generalized valuation of assets listed on the balance sheet of the enterprise.

• Share of the active part of fixed assets

The active part of fixed assets should be understood as machines, machine tools, equipment, vehicles, etc. The growth of this indicator is qualified as a positive trend.

• Wear factor

It characterizes the degree of depreciation of fixed assets as a percentage of the original cost. Its high value is an unfavorable factor. The addition of this indicator to 100% is suitability factor.

• Refresh rate, - shows what part of the fixed assets available at the end of the period are new fixed assets.
• Retirement rate, - shows what part of the fixed assets withdrew from the economic turnover for the reporting period due to dilapidation and other reasons.

The assessment of the financial position consists of two main components:

q Analysis of the firm's liquidity

q Analysis of financial stability.

Company liquidity analysis is an analytical procedure aimed at identifying the firm's ability to pay its obligations in full and on time.

When analyzing liquidity, the following main indicators are calculated:

At financial stability analysis the most important characteristic of the financial condition of an enterprise is studied - the stability of its activities in the long term. It is related to the overall financial structure of the enterprise, the degree of its dependence on creditors and investors.

To analyze the financial stability of an enterprise, it is necessary to calculate the following key indicators:

• Equity concentration ratio. Characterizes the share of the owners of the enterprise in the total amount of funds advanced in its activities. The higher the value of this ratio, the more financially stable, stable and independent of external loans the enterprise. The recommended value for this indicator is 60%. In addition to this indicator up to 100% is concentration factor attracted (borrowed) capital.
• Coefficient of financial dependence. It is the inverse of the equity concentration ratio. The growth of this indicator in dynamics means an increase in the share of borrowed funds in the financing of the enterprise. If its value is reduced to one (or 100%), this means that the owners fully finance their enterprise. Exceeding 100% shows the structural value of attracted funds.
• Equity maneuverability ratio . Shows what part of equity capital is used to finance current activities, i.e. invested in working capital, and what part is capitalized. The value of this indicator can significantly vary depending on the capital structure and industry sector of the enterprise.
• Coefficient of structure of long-term investments. The ratio shows what part of fixed assets and other non-current assets is financed by external investors, and what part is financed by own funds.
• The ratio of own and borrowed funds. This indicator gives the most general assessment of the financial stability of the enterprise and shows how many kopecks of borrowed funds invested in the assets of the enterprise account for 1 ruble of own funds. The growth of the indicator in dynamics indicates an increase in the dependence of the enterprise on external investors and creditors, i.e., a decrease in financial stability, and vice versa.

Business activity analysis characterizes the results and efficiency of the current main production activity of the company. Generalizing indicators for evaluating the efficiency of the use of enterprise resources and the dynamism of its development include the following indicators:

• Resource productivity (turnover ratio of advanced capital). It characterizes the volume of sold products per ruble of funds invested in the activities of the enterprise. The growth of the indicator in dynamics is considered as a favorable trend.
• Coefficient of sustainability of economic growth. Shows the average pace at which an enterprise can develop in the future without changing the already established ratio between various sources of financing, capital productivity, production profitability, dividend policy, etc.

Profitability analysis is the most important part of the overall analysis of the financial and economic activities of the enterprise and allows you to answer the question of how profitable the company is and how efficiently it uses the invested capital. The main indicators of this block are return on advanced capital and profitability of own capital. The economic interpretation of these indicators is obvious - how many rubles of profit fall on one ruble of advanced (own) capital. Other similar indicators can also be calculated.

§ 2. Analysis of the financial and economic activities of ZAO Promsintez.

2.1 General overview of the economic and financial situation of the organization.

2.1.1 Characteristics of the direction of financial and economic activities.

Limited Liability Company Promsintez(Promsintes) was established on December 7, 1991 and re-registered in ZAO Promsintez November 20, 1992 by Order of the Administration of the city of Pyatigorsk No. 6146r.

The Company has been assigned the following all-Russian classifiers:

• According to OKONH 71211.63200.81200
• According to KOPF 49
• According to OKPO 22088662

TIN 2663007854

Legal address: Pyatigorsk, st. Pestova 22, tel. 79141.

Settlement account 00746761 in CB Pyatigorsk 700161533

BIC 040708733.

CJSC Promsintez aims to make a profit by carrying out the following activities:

Production of consumer goods

Commissioning, construction and installation and design work

Production and processing of agricultural products

Manufacture of products for industrial purposes

Commercial, trade, intermediary, trade and procurement activities

Foreign economic activity

Transport services

All activities are carried out in accordance with applicable law. The company starts activities subject to licensing upon receipt of a license.

During the period under review (1996), CJSC Promsintez was mainly engaged in the production of water treatment plants and commissioning work on their installation, as well as construction and installation work for their own needs.

2.1.2 Analysis of the state of "sick" reporting items

As a result of the analysis of the financial statements of Promsintez CJSC, namely, losses (form No. 1 - lines 310, 320, 390, form No. 2 lines - 110, 140, 170), long-term and short-term bank loans and loans outstanding on time (form No. 5 lines 111, 121, 131, 141, 151) overdue receivables and payables (form No. 5 lines 211, 221, 231, 241) as well as overdue bills (form No. 5 line 265) no amounts were found on these items, which, in general, indicates the profitability of the enterprise, as well as its ability to normally pay off its creditors and receive money from debtors on time.

It should be noted that the company fully used the profit of the reporting year (48988 thousand rubles). This is due to the fact that a significant share of the company's expenses is occupied by the costs of building a production workshop, own store and office.

2.2 Analysis of the financial and economic condition of the enterprise.

2.2.1 Assessment of property status.

The assessment of the property status of the organization should be carried out in three stages:

• Analysis of the integrated compacted net balance
• Analysis of property dynamics
• Analysis of property indicators

Table 1 Integrated compacted net balance

Article	Absolute indicators				Relative (structural) indicators
	At the beginning, thousand rubles	At the end, thousand rubles	Absolute change, thousand rubles	Relative change,%	At the beginning, %	Finally, %	Change, %
Assets
1. Non-current assets
1.1 Intangible assets
1.2 Fixed assets
1.3 Construction in progress
1.4 Long-term financial investments
1.5 Other non-current assets
Section 1 Total
2. Current assets
2.1 Stocks and costs, incl. VAT
2.2 Accounts receivable
2.3 Cash and cash equivalents
2.4 Other current assets
Section 2 total
Total assets
Passive
1. Equity
1.1 Authorized and additional capital
1.2 Funds and reserves
Section 1 Total
2. Raised capital
2.1 Long-term liabilities
Section 2 total
Total liabilities

As a result of the analysis of the condensed net balance, the following conclusions can be drawn:

q Fixed assets decreased from 139437 thousand rubles. up to 107400 thousand rubles. (by 23%), which can be characterized as a negative trend

q Construction in progress increased from 74896 thousand rubles. to 183,560 thousand rubles, which compensates for the decrease in fixed assets, since these facilities under construction (stamping shop, shop and office) will be included in fixed assets.

Thus, non-current assets increased from 214333 thousand rubles. up to 327833 thousand rubles. (by 53%), which indicates an increase in production fixed assets in the future.

Current assets increased from 46,095 thousand rubles. up to 114894 thousand rubles. which can be assessed as a favorable trend.

Thus, the balance sheet increased from 260428 thousand rubles. up to 442,727 thousand rubles. which generally characterizes the increase in the production potential of CJSC Promsintez.

Of particular note is the growth of the company's short-term liabilities (from 66,975 thousand rubles to 248,672 thousand rubles - by 271%), which can definitely be regarded as a negative trend.

In general, the structural indicators of the balance sheet reflect the above dynamics - if, in the assets of the balance sheet, the structure of articles remained practically the same, then in liabilities, one can note a clear increase in the share of short-term liabilities (from 26% at the beginning of the analyzed period to 56% at the end) due to a corresponding decrease in the share of long-term liabilities, which is also a negative point.

2.2.1.2 Assessing property dynamics

Table 2. Assessing property dynamics

Indicators	Back to top	Finally	Change
			thousand roubles.
Immobilized assets
Mobile assets, incl.
Accounts receivable
Cash
Other current assets
Total property

When assessing the dynamics of the property of CJSC Promsintez, the following results were revealed:

q Immobilized assets increased from 214333 thousand rubles. up to 327833 thousand rubles. (by 53%)

q Mobile assets increased from 46,095 thousand rubles. up to 114894 thousand rubles. (by 149%). The growth of mobile assets is due to the increase in inventories (from 45,604 to 114,631 thousand rubles - by 151%). It seems inappropriate to analyze the dynamics of receivables and cash, since these values ​​are rather small compared to the balance sheet. It can only be noted that a small amount of "fast" cash (on the account and at the cash desk), which may interfere with the normal procedure for settlements.

The total amount of property increased from 260428 thousand rubles. up to 442,727 thousand rubles. (by 70%), which, ceteris paribus, positively characterizes the property position of CJSC Promsintez.

2.2.1.3 Evaluation of formalized indicators of property status.

For a more complete and qualitative analysis property status, it is advisable to calculate analytical indicators.

Table 3 Summary of analytical indicators of the group of property status

Index	Meaning		Norm. meaning
	Back to top	Finally
			decline
			decline
1.6 Refresh rate
1.7 Dropout rate			decline

The analysis of indicators of the group of property status allows us to draw the following conclusions:

• The amount of economic assets at the disposal of the enterprise increased from 260428 thousand rubles. up to 442,727 thousand rubles. which can be assessed as a positive trend
• The share of fixed assets in assets decreased (from 0.57 to 0.24), which indicates a decrease in the production potential of the organization
• As part of fixed assets, a significant amount is occupied by their active part (almost 100%), which is a positive point
• The depreciation coefficient of the active part of fixed assets decreased from 0.85 to 0.3. This dynamics can be assessed as very positive, as there was a significant renewal of fixed assets
• The renewal rate was 0.88, and the retirement rate was 0.64, which indicates a favorable trend in the renewal of fixed assets.

2.2.2 Assessment of the financial situation

2.2.2.1 Analyzing the firm's liquidity

To analyze the liquidity of Promsintez JSC, we calculate analytical indicators.

Table 3 Summary of analytical indicators of the liquidity group

Index	Meaning		Norm. meaning
	Back to top	Finally
2.1 The amount of own working capital
2.2 Maneuverability of own working capital
2.3 Current ratio
2.4 Quick liquidity ratio
2.5 Coefficient absolute liquidity
2.6 Share of working capital in assets
2.7 The share of own working capital in their total amount
2.8 Share of inventories in current assets
2.9 Share of own working capital in covering stocks
2.10 Reserve coverage ratio

An analysis of liquidity indicators allows us to conclude that the company is absolutely illiquid both at the beginning and at the end of the analyzed period.

So the indicator of the value of own working capital amounted to -133,778 thousand rubles, which indicates that 133,778 thousand rubles. non-current assets are financed by short-term debt (other than current assets).

The current liquidity ratio decreased from 0.69 to 0.46 (at the rate of 2), which indicates the extreme illiquidity of the company.

There is no need to even talk about more stringent liquidity ratios.

This condition is partly due to the high share of stocks in the structure of current assets (almost 100%). On the other hand, such dynamics takes place due to the high level of accounts payable.

It should be noted that this state can be partly justified by the high level of liquidity of inventories and the fact that the organization seeks to keep its assets in inventories due to the possibility of inflation.

2.2.2.2 Financial sustainability analysis

To conduct an analysis of financial stability, it is necessary to calculate analytical indicators.

Table 4 Summary of analytical indicators of the financial stability group

Index	Meaning		Norm. meaning
	Back to top	Finally
3.1 Equity concentration ratio
3.2 Financial dependency ratio
3.3 Equity flexibility ratio
3.4 Debt concentration ratio			decline
3.5 Long-term investment structure ratio
3.6 Long-term leverage ratio
3.7 Debt structure ratio
3.8 Debt to Equity Ratio			decline

After analyzing the financial stability of Promsintez JSC, the following conclusions can be drawn:

• The equity concentration ratio decreased from 0.74 to 0.44 (the company's assets were financed by its own capital at the end of the year by 44%), which is a negative trend, as it reduces the company's financial stability.
• Accordingly, the coefficient of financial dependence increased (from 1.35 to 2.28)
• An increase in the debt capital concentration ratio (0.26 to 0.56) can be noted, which indicates a similar trend.
• The company does not use long-term borrowed capital, which is a negative point, since financing activities through short-term debt is fraught with the risk of non-repayment of funds to creditors on time. This is evidenced by the dynamics of indicators 3.5, 3.6, 3.7. (at the beginning and end of the analyzed period they are equal to zero).
• The ratio of borrowed and own funds increased, which also indicates a decrease in the financial stability of the enterprise over the analyzed period.

Thus, having studied the dynamics of the indicators of this group, we can conclude that the financial stability of Promsintez JSC is declining.

2.2.3 Evaluation of the effectiveness of the financial and economic activities of the organization

2.2.3.1 Business analysis

Table 5 Summary of analytical indicators of the business group

Index	Meaning		Norm. meaning
	Back to top	Finally
4.1 Sales proceeds
4.2 Net income
4.3 Labor productivity
4.4 Return on assets
4.5 Turnover of funds in settlements (in turnover)
4.6 Turnover of funds in settlements (in days)
4.7 Inventory turnover (in turnovers)
4.8 Inventory turnover (in days)
4.9 Accounts payable turnover (in days)
4.10 Operating cycle time
4.11 Length of financial cycle
4.12 Collection ratio of receivables
4.13 Equity turnover
4.14 Total capital turnover
4.15 Sustainability Ratio of Economic Growth

2.2.3.2 Cost-benefit analysis

To analyze the profitability of Promsintez JSC, it is necessary to calculate the following analytical indicators.

Table 6 Summary of analytical indicators of the profitability group

Index	Meaning		Norm. meaning
	Back to top	Finally
5.1 Net income
5.2 Profitability of products
5.3 Profitability of core business
5.4 Return on total capital
5.5 Return on equity
5.6 Payback period of equity			decline

As a result of the profitability analysis, we can conclude that Promsintez JSC is profitable as a whole.

This is evidenced by the dynamics of the following indicators:

• Net profit increased from 23,038 thousand rubles. up to 31842 thousand rubles. (by 38%)
• Product profitability remains at the level of 20%, which is an acceptable indicator.
• The profitability of the main activity also has a normal value (25%).
• Return on equity increased from 12% to 16%, which is a favorable trend.
• Reflecting the dynamics of the previous indicators, the payback period for equity capital has decreased (from 8.4 years to 6 years).

2.3 Summary

Conclusion

In conclusion, the following should be noted.

Analysis of the financial and economic activities of the company in the conditions market economy is gaining more and more importance.

Analysis is a management function aimed at finding out the real state of the functioning of the company. Depending on the goals set, the emphasis can be placed on various aspects of the organization's activities.

The analysis of financial and economic activities is based on the analysis methodology, which determines the form of analytical research and analytical procedures. The detailing of the procedural side of the PCD analysis depends on the information support and the chosen areas of analysis.

Analysis of financial and economic activities allows you to:

• Assess the financial and economic condition of the company and its compliance with the goals.
• Reveal the economic potential of the economic entity.
• Determine the effectiveness of financial and economic activities.
• Develop measures to improve the efficiency of production and management, and much more.

Thus, the analysis of financial and economic activities is an integral part of enterprise management. It is an effective tool for influencing the economic life of the company, allows you to control current situation, determine development prospects and much more.

The analysis of financial and economic activity is beginning to take an increasing place in the management of Russian enterprises, and it is obvious that its wider application will significantly improve production efficiency and ensure economic growth.

Application

Table 7 The system of indicators for assessing the financial and economic situation of the organization

Name of indicator	Calculation formula		Reporting form	Line numbers(s), count(r.)
1.1 The amount of economic funds at the disposal of the organization	Net balance result			p.399-p.390-p.252-p.244
1.2 Share of fixed assets in assets	Cost of fixed assets Net balance total			s.399-s.390-s252-s.244
1.3 Share of the active part of fixed assets	The cost of the active part of fixed assets Cost of fixed assets
1.4 Depreciation rate of fixed assets	Depreciation of fixed assets Initial cost of fixed assets
1.5 Depreciation coefficient of the active part of fixed assets	Depreciation of the active part of fixed assets The initial cost of the active part of fixed assets			p.363(d.6)+p.364(d.6)
1.6 Refresh rate	The initial cost of fixed assets received for the period The initial cost of fixed assets at the end of the period

Analysis of socio-economic indicators of the organization's activities on the example of JSC "Kurgankhimmash"

Organizational and economic characteristics of the object of study

All types of activities of Kurgankhimmash OJSC are licensed by Gostekhnadzor and Gosatomnadzor of Russia:

• - design, manufacture and installation of boiler supervision facilities; examination of the safety of boiler supervision facilities;
• - manufacturing of equipment for chemical and other explosive and hazardous industries;
• - design and manufacture of equipment for the AU.

Products manufactured by organizations have certificates of conformity in the GOST RF certification system for the following types of equipment:

• - oil and gas processing equipment, column apparatuses;
• - liquid mesh filters for pipelines, settling tanks;
• - capacitive vessels and apparatuses and other equipment.

Based on the above characteristics of the organization, it can be concluded that the organization of Kurgankhimmash OJSC is currently a modern organization, capable of producing sophisticated technological equipment for the chemical industry with high quality and reliability.

To characterize the production and economic activities of the organization, it is necessary to analyze the marketing of the organization's products by regional and industry characteristics.

Table 1 presents an industry analysis of the products of the organization JSC "Kurgankhimmash".

Table 1

Comparative analysis of the equipment sold by JSC "Kurgankhimmash" by industry for the period 2010 - 2012. (in monetary terms)

value, thousand rubles		value, thousand rubles		value, thousand rubles
	Oil and gas, total. :
	oil and gas production
	Oil and gas processing
	oil and gas transportation
	mechanical engineering
	Chemical
	Construction and housing and communal services
	Metallurgy
	Energy
	Light and food
	Instrumentation
	Medicine and microbiology
	Other (including cylinders, electrodes, services)
	Total for Russia
	Abroad

An analysis of the production and economic activity data in table 2 shows the following trends:

The most significant share of products sold during the entire period under review relates to the oil and gas industries, and this share increased from 47% in 2010 to 77% in 2012.

The sales of equipment for the transportation of oil and gas are developing at a faster pace. In 2012, the share of this equipment was 40% of the total oil and gas industry, and the growth rate for 2012 was 281%.

The sale of consumer goods and services is developing quite favorably. Although in 2011 the industry experienced a decline of 39% compared to the previous period, in 2012 the industry's growth rate was 218%.

At the same time, it should be noted that the share of other industries is gradually decreasing (with the exception of construction and housing and communal services).

Figure 1 shows a diagram of the sales structure of products by region for 2012.

Figure 1 - Regional structure of product sales for 2012

From the analysis of the presented data, we can conclude that the most significant consumers of the organization's products are the Ural region (51% of sales), and the Tyumen region is the leader in the region.

The analysis of the structure of the assets of the organization OJSC "Kurgankhimmash" is carried out on the basis of the data in Appendix 1. To assess the structure of the organization's property, it is necessary to draw up a diagram (Figure 2).

current assets; - fixed assets.

Figure 2 - Dynamics and composition of the property of JSC "Kurgankhimmash", thousand rubles.

Based on the analysis of the data presented, it can be concluded that in the structure of the organization's assets, the share of current assets increased significantly from 0.69 of the total property in 2010 to 0.78 in 2012; stocks of 0.33 of the total property in 2010 and 0.36 in 2012, as well as receivables 0.33 and 0.40, respectively, in 2010-2012, in turn, fixed assets 0, 30 and 0 occupy a significant place in the composition of non-current assets , 20 over the years.

It can be noted that the trend in asset changes is generally favorable, that is, a significant increase in 2010 (growth rate of 43%) and a slight decrease in 2011-2012. (by 14% and by 5%) : the rate of change of non-current assets: a decrease in 2011 by 10% and in 2012 a decrease by 10%; the rate of change in current assets: a significant increase in 2010 (by 62%), a slight decrease in 2011 by 15%, and by 3% in 2012.

The factor analysis of indicators shows that the change in the value of inventories by 10% and 44% over the years, as well as the change in the value of accounts receivable in 2010 by 116%, has the greatest impact on the change in the value of assets. This allows us to talk about improving the efficiency of asset management in the organization.

An analysis of the data presented in Appendix 1 allows us to conclude that the current assets of the organization make up the most significant part in the property structure of OJSC Kurgankhimmash in the period under review, 934,238 thousand rubles, and 904,744 thousand rubles. At the same time, in the composition of working capital, the largest share is occupied by inventories, receivables and cash.

The report examines the capital structure of OAO Kurgankhimmash. In the period under review, the ratio of own and borrowed funds is 44:56, 52:48 and 70:30 (%). There is a clear downward trend in the absolute value and relative leverage from 2010 to 2012. This trend reduces the organization's dependence on borrowed funds and improves sustainability performance. The change in the ratio of borrowed and own funds is 1, 286; 0, 425. The data on the capital structure of the organization, presented in Appendix 2, can be shown in the form of a diagram (Figure 3).

It can be noted that the most significant element in the structure of the organization's own funds is in the period under review authorized capital, its value during the years under consideration is 7.8% and 21.7% of the value of the capital of the organization.

Borrowed funds;

Own funds.

Figure 3 - Dynamics and composition of the capital of OJSC "Kurgankhimmash", thousand rubles

The next source of own funds in the period under review is retained earnings of about 35.5% and 44.9% in 2010-2012.

In 2011 - 2012 there is a decrease in borrowed capital in 2011 by 26.5%, then in 2012 by 46%. The trend of change in 2012 is favorable, and as further calculations showed, the financial stability of the organization has increased significantly. It should be noted that borrowed capital mostly consists of short-term liabilities.

The trend of change in 2012 is unfavorable, but as further calculations showed, the financial stability of the organization continues to be high. In 2010 - 2012 there is first a decrease in borrowed capital in 2011 to 84.5%, then an increase in 2012 to 155.62%. It should be noted that borrowed capital consists of short-term liabilities.

In market conditions, when the economic activity of the organization and its development are carried out both at the expense of its own funds and at the expense of borrowed funds, the financial independence of the organization from external borrowed sources acquires an important analytical characteristic.

To analyze these financial stability indicators for the period from 2010 to 2012, Table 2 has been compiled.

table 2

Indicators of financial stability of JSC "Kurgankhimmash"

	Index
values	01. 01. 2010	01. 01. 2011	01. 01. 2012	01. 01. 2013
	Equity concentration ratio
	Debt to equity ratio
	Equity maneuverability ratio
	Financial dependency ratio
	Debt capital concentration ratio
	Long-term investment structure ratio
	Long-term borrowing ratio
	Debt structure ratio capital
	Type of financial stability

The equity concentration ratio reflects the share of equity in the total amount of funding sources and independence from external sources of funding, the degree of asset formation at the expense of equity capital. During this period of time, this indicator increased significantly from 0.5706 in 2010 to 0.7015 in 2012 (these indicators are higher than the recommended value). This increase is due to a more significant increase in equity compared to assets. The ratio of borrowed and own funds has significantly decreased from 0.5198 to 0.3948 (again the recommended value is not exceeded), and there is a decrease in the organization's dependence on borrowed capital.

The flexibility ratio reflects the share of equity capital invested in working capital, the degree of mobility of the use of equity capital. During the specified period, it was constantly above the recommended value and slightly increased from 0.6812 to 0.7105, which confirms the development trends of the organization. For the same reasons, the coefficient of financial dependence and the concentration ratio of borrowed capital decreased.

In market conditions, the importance of the organization's solvency increases, as the need for timely payment by the organization of current payment requirements increases. To assess solvency, it is customary to calculate liquidity indicators.

The data for calculating liquidity ratios are presented in Appendix 3, and table 3 shows the organization's liquidity ratios.

Table 3

Liquidity ratios of OJSC Kurgankhimmash

The absolute liquidity ratio tends to decrease (from 0.0041 to 0.0031), and in 2010-2012. does not match the recommended value. An entity can pay a small portion of its short-term debt obligations without resorting to inventory liquidation.

The current liquidity ratio shows the multiplicity of current assets exceeding the short-term debt obligations of the organization, and depends on the period of transformation of liquid assets into cash. This coefficient decreases from 2.2405 in 2010 to 2.7636 in 2012 and corresponds to the recommended value.

The solvency analysis showed that the organization has enough cash to quickly pay its short-term debt obligations.

The main summary indicator of results economic activity organization is the profit or loss of the reporting year. Based on the data of Form No. 2 “Profit and Loss Statement”, it is necessary to draw up analytical tables in the appendix.

The amount of profit (loss) of the organization, as well as various kinds costs is shown in the diagram (Figure 4).

Figure 4 - Dynamics of net profit of JSC "Kurgankhimmash", thousand rubles

In 2010, the net profit of the organization OJSC "Kurgankhimmash" amounted to 55212 thousand rubles. (2.5% of revenue), in 2011 the profit amounted to 14227 thousand rubles. (0.76% of revenue), and the organization ended 2012 with a profit of 659 thousand rubles. (0.045% of revenue).

The diagram in Figure 9 shows the following trends: A significant decrease in the profit of the organization OJSC "Kurgankhimmash" in 2011 by 75%. This was facilitated by the following factors: decrease in revenue by 14%; an increase in interest payable by 64% significantly reduces profit before tax.

In 2012, profit decreased by 95%. We can name the following main factors for the decrease in profit: revenue decreased by 21%, while administrative expenses even slightly increased (by 2%), as a result, sales profit decreased by 32%.

From the analysis of the indicators under consideration, we can conclude that the most significant factor, the change of which determined the change in profit for the period 2010 - 2012. is a significant change in revenue from product sales.

Profitability indicators are shown in table 4.

Table 4

Profitability indicators of JSC Kurgankhimmash, %

Profitability in terms of profit and equity is declining. The reason is the decrease in profit for 2012. Therefore, all profitability indicators are significantly reduced in 2012.

International University of Business and Management

Institute of economics and management

GRADUATE WORK

Specialty: 060400 "Finance and Credit"

On the topic: ANALYSIS OF FINANCIAL AND ECONOMIC ACTIVITIES OF SOLO LLC

student tatiana

(5 course, full-time education)

scientific director

Dan. Professor Markin Yu.P.

Allow for protection

Director of the Institute

Efimova E. M.

Head department

Markin Yu.P.

Moscow 2006

Introduction			3
1.	THE CONCEPT, SIGNIFICANCE AND OBJECTIVES OF THE ANALYSIS OF FINANCIAL AND ECONOMIC ACTIVITY		5
1.1.	Main types and methods of analysis	6
1.2.	Financial reporting, the content and significance of its analysis	10
1.3.	Analysis of the financial condition	12
2.	2.1.	Methodology for assessing the composition, structure and dynamics of the property of an enterprise and the sources of their formation	15
2.2	Assessment of the financial stability of the enterprise	36
3.	ANALYSIS OF FINANCIAL AND ECONOMIC ACTIVITIES OF SOLO LLC		48
3.1.	general characteristics	48
3.2.	Assessment of property status	49
3.3.	Financial stability analysis	62
3.4.	Solvency and liquidity analysis	70
3.5.	Business activity analysis	77
3.6.	Profitability analysis	81
CONCLUSION			85
BIBLIOGRAPHY			89
APPS			91

Introduction

The transition to a market economy requires an enterprise to increase the efficiency of production, the competitiveness of products and services through the introduction of effective forms of economic management and production management, initiatives, the activation of entrepreneurship, etc. An important role in the implementation of this task is assigned to the financial and economic analysis of the activities of business entities. With its help, a strategy and tactics for the development of an enterprise are developed, reserves for the efficiency of production and sale of products, works, services are identified, and performance results are evaluated. The analysis of financial and economic activity can be considered the most important means of managing and controlling the production and economic activities of an enterprise, institution or organization of any organizational and legal form, in any of the sectors of the economy.

The target orientation of financial analysis is to substantiate management decisions, the consequences of which will manifest themselves in the near or distant future. That's why the most important task financial analysis in modern conditions is a prospective assessment of the financial condition of the enterprise and its financial stability in the future from the standpoint of their compliance with the development goals of the enterprise in a changing external and internal environment.

In connection with the above, the topic thesis: “An analysis of the financial and economic activities of SOLO LLC seems to be particularly relevant. The purpose of this work is a comprehensive study of the financial and economic activities of SOLO LLC. To achieve this goal, it is planned to solve a number of interrelated particular tasks:

1. Research the dynamics of the main financial and economic indicators.

3. Analyze the results and draw appropriate conclusions, on the basis of which to propose directions for the further development of the enterprise.

A qualified economist, financier, accountant, auditor must be proficient in modern methods economic research, a method of complex financial and economic analysis.

The thesis consists of an introduction, two chapters and a conclusion.

The first chapter deals with the theoretical part of the methodology of financial analysis in general and the calculation of the necessary indicators.

In the second chapter, a direct analysis of the financial and economic activities of SOLO LLC is carried out.

1. The concept, meaning and objectives of the analysis of financial and economic activities.

The methodology for analyzing financial and economic activities includes the analysis financial results activities of the enterprise, analysis of the financial condition and analysis of the effectiveness of the economic activity of the enterprise.

The purpose of the analysis of financial and economic activity is an objective assessment of the financial condition, financial results, efficiency and business activity of the object of study. To make managerial decisions in the field of finance, management needs constant awareness of relevant issues, which is possible only as a result of the selection, analysis and evaluation of initial information.

The analysis of financial and economic activity consists of:

1.Preliminary review of the economic and financial situation of the enterprise;

2. Evaluation and analysis of the economic potential of the enterprise:

2.1. Assessing the property status (building a comparative analytical balance sheet, its vertical and horizontal analysis);

2.2. Assessments of the financial position (assessment of liquidity, solvency, assessment of financial stability);

3. Evaluation and analysis of the effectiveness of financial and economic activities:

3.1. Estimates of business activity;

3.2. Profitability analysis.

1.1. Main types and methods of analysis.

The economic analysis of the enterprise includes a large number of various types of assessments of the results of their activities and, therefore, requires and allows the use of a variety of methods. The type and method of economic analysis are predetermined by the goal, the time of the analysis (period of operation or liquidity) and the expected result of the analysis. The main goals of economic analysis, and, consequently, the main criteria should be those that would improve the efficiency of the enterprise. The enterprise must be profitable, increase productivity and increase revenues and profitability

The leaders of the enterprise, who are going to expand their activities and attract financial resources, must be able to determine and implement a financial and economic development strategy for several years. An analysis of the financial and economic state of an enterprise over a number of years (at least for three years) is decisive when working with both Russian and foreign investors. Even if there are excellent business proposals that give good prospects in the future economical effect and in demand on the market, serious Russian and foreign investors will not work with enterprises that have low financial performance at the moment or a negative trend in the last

Potential investors request from enterprises planning to implement investment projects financial statements certified by auditors, containing data on cash assets, liabilities incurred, results of financial, economic and other activities for the relevant periods. This is a traditional standard procedure in the activities of banks and other investment institutions. Obviously, a rational approach to the search for investment funds by enterprises applying for them should allow them to evaluate the impression that the presented financial statements will make on the bankers, borrowers or prospective partners who request this information. However, it is equally clear that in order to establish this within the framework of the investment applicant firm itself, an analysis of its financial statements and an assessment of its financial and economic condition as a potential borrower should be made. That is, the specialists of the enterprise responsible for attracting additional financial resources should be able to work with financial statements and analyze them using methods similar to those used by representatives financial market. This also implies that such specialists should also know the criteria on which analysts of financial institutions are based in assessing the financial and economic condition of enterprises when making decisions on providing the funds they request. Moreover, promising firms should prepare themselves in advance to enter the financial capital market in order to raise the funds necessary for accelerated development and expansion of the scale of activities. This, first of all, should involve the implementation by their financial and accounting departments of such a strategy that, in the process of production, economic and financial activities, could ensure, in a relatively short time, that financial reporting indicators reach the level characteristic of financially stable and attractive to investors enterprises.

Taking into account the importance of additional financial resources for the successful development of an enterprise, financial and economic analysis is considered mainly as an element of the technology for attracting them. Conducting an analysis of financial and economic activities is of great practical importance. And this explains the fact that economic analysis is not a product of economic theory put into practice, but an urgent need in the field of production and financial management. Many scientific works have been devoted to the study of various aspects of the analysis of financial and economic activities in Russia and abroad. For more than a decade, many scientists and specialists have been developing and improving its methodology and techniques. And at the same time, precisely because of its practical orientation, continuous development and improvement of the production and financial management system of the enterprise, there is a constant need to develop the theory of analysis of financial and economic activity.

At the same time, it is important not only to get acquainted with the methodology and technology of analyzing financial and economic activities, but also to understand its internal logic, to learn how to choose the most appropriate procedure for its implementation in each specific case, the form of presenting the results and their interpretation. The latter is especially significant, since the specialized literature offers a variety of techniques and methods used in the analysis of financial and economic activities, the indicators obtained and the calculated coefficients.

The financial and economic position of the enterprise, various aspects of its production, financial and investment activities in a market economy, for one reason or another, are of interest to many subjects of economic and administrative relations. However, the reasons for this interest, and, consequently, the requirements and tasks that these subjects set before the analysis of financial and economic activities, can vary significantly. The specific content of the process of analyzing financial and economic activities, its time period, requirements for the content and form of presentation used in the analysis financial information, a set of calculated indicators - all this is determined by for whom and for what purpose it (analysis) is carried out. Table 1.1 shows the types of analysis, differentiated depending on its goals and directions.

Table 1.1.

Types of economic analysis

Financial and economic	The analysis is based on the financial results of the enterprise: the implementation of the financial plan, the efficiency of using equity and borrowed capital, identifying reserves for increasing the amount of profit, increasing profitability, improving the financial condition and solvency of the enterprise
Audit - (accounting)	Conducted by auditors or audit firms in order to assess and predict the financial condition and financial stability of a business entity
Technical and economic	Studies the interaction of technical and economic processes and their impact on the economic performance of the enterprise
Socio-economic	Studies the relationship of social and economic processes, their influence on each other and on the economic results of economic activity
Economic-statistical	It is used in the study of mass phenomena at different levels of management
Economic and environmental	Explores the interaction of ecological and economic processes associated with the preservation and improvement of the environment and environmental costs
Marketing	It is used to study the markets for raw materials and the sale of finished products, its competitiveness, supply and demand, commercial risk, the formation of pricing policy, the development of tactics and strategies for marketing activities

1.2.Financial reporting, the content and significance of its analysis.

The information sources for calculating indicators and conducting analysis are annual and quarterly financial statements:

Form No. 1 "Balance sheet",

Form No. 2 "Profit and Loss Statement",

Form No. 3 "Capital flow statement",

Form No. 4 “Cash flow statement”,

Form No. 5 "Appendix to the balance sheet".

In a market economy, the financial statements of enterprises are the main means of communication and the most important element of information support for financial analysis. It is no coincidence that the concept of compiling and publishing reports is one of the most important in the system of national standards in most economically developed countries. It is quite simple to explain such attention to reporting. Any organization, to one degree or another, constantly needs additional sources of funding. You can find them on the capital market, attracting potential investors and creditors by informing them about your financial and economic activities. The main source of such information is financial statements. As attractive as the published financial results are, showing the current and prospective financial condition of the organization, the probability of obtaining additional sources of financing in one form or another is also high.

Form No. 1 “Balance sheet of the enterprise”. It fixes: cost ( monetary value) balances of property, materials, finances, formed capital, funds, profits, loans, credits and other debts and obligations. The balance sheet contains information about the state and composition of the economic assets of the enterprise, included in the asset, and the sources of their formation, constituting liabilities. This information is presented “At the beginning of the year” and “At the end of the year”, which makes it possible to analyze and compare indicators, determining their growth or decline. So, the balance sheet is used to assess the financial condition of the enterprise, analyze the composition and structure of property and sources of its formation, the state of liquidity of the balance sheet, and the degree of financial independence. However, the reflection in the balance sheet of only residuals does not provide an opportunity to answer all the questions of owners and other interested users. Additional detailed information is needed not only on balances, but also on the movement of economic assets and their sources. This is achieved by introducing the following reporting forms.

Form No. 2 “Profit and Loss Statement”. Based on it, an analysis of the dynamics and structure of financial results is carried out, and the “quality” of profit is assessed.

Form No. 3 “Capital flow statement”. Allows you to evaluate the dynamics and structure of equity capital and reserves.

Form No. 4 “Cash flow statement”. This report is prepared on a cash basis and is used to characterize cash flows enterprise in the current, investment and financial activities of the enterprise, allows you to assess the degree of capital overflow from one area of ​​activity to another.

Form No. 5 “Appendix to the balance sheet”. Allows you to decipher the indicators of the composition and movement of property, liabilities, receivables and payables, financial investments;

“Explanatory note” outlining the main factors that influenced the reporting year on the final results of the enterprise, with an assessment of its financial condition.

Reading financial statements as one of the methods of financial analysis is used for a clear and simple assessment of the development dynamics of any organization, regardless of its legal form and commercial activity or status. non-profit organization. Despite the complexity that seems at first glance, it is available not only to professionals.

1.3. ANALYSIS OF THE FINANCIAL STATE

The financial condition of an enterprise is an economic category that reflects the state of capital in the process of its circulation and the ability of a business entity to self-develop at a fixed point in time. In the process of supply, marketing and financial activities, continuous process the circulation of capital, the structure of funds and sources of their formation, the availability and need for financial resources and, as a result, the financial condition of the enterprise, the external manifestation of which is solvency, change.

The financial condition can be stable, unstable (pre-crisis) and crisis. The ability of an enterprise to make payments on time, finance its activities on an extended basis, withstand unforeseen shocks, and maintain its solvency in adverse circumstances is indicative of its sound financial condition, and vice versa.

To ensure financial stability, an enterprise must have a flexible capital structure, be able to organize its movement in such a way as to ensure a constant excess of income over expenses in order to maintain solvency and create conditions for self-reproduction.

Consequently, financial stability of the enterprise is the ability of a business entity to function and develop, to maintain a balance of its assets and liabilities in a changing internal and external environment, which guarantees its constant solvency and investment attractiveness within the limits of an acceptable level of risk.

The financial condition of the enterprise, its sustainability and stability depend on the results of its production, commercial and financial activities. If the production and financial plans are successfully implemented, then this has a positive effect on the financial position of the enterprise. And, on the contrary, as a result of underfulfillment of the plan for the production and sale of products, its cost increases, revenues and profits decrease, and as a result, the financial condition of the enterprise and its solvency worsen. Consequently, a stable financial condition is not a fluke, but the result of a competent, skillful management of the entire complex of factors that determine the results of an enterprise's economic activity.

A stable financial position, in turn, has a positive impact on the performance production plans and ensuring the needs of production necessary resources. Therefore, financial activity as an integral part of economic activity should be aimed at ensuring the planned receipt and expenditure of financial resources, the implementation of settlement discipline, the achievement of rational proportions of equity and borrowed capital and its most efficient use.

The main goal of financial activity is reduced to one strategic task - to increase the assets of the enterprise. To do this, it must constantly maintain solvency and profitability, as well as the optimal structure of the asset and liability balance.

The financial condition of the enterprise is expressed in the ratio of the structures of its assets and liabilities, i.e. enterprise funds and their sources. The main tasks of the analysis are to determine the quality of the financial condition, study the reasons for its improvement or deterioration over the period, and prepare recommendations for improving the financial stability and solvency of the enterprise. These tasks are solved on the basis of studying the dynamics of absolute and relative indicators and are divided into the following analytical blocks:

structural analysis of assets and liabilities;

analysis of financial stability;

solvency (liquidity) analysis;

analysis of the required increase in own capital.

In addition to financial ratios, an important role in the analysis of the financial condition is played by absolute indicators, calculated on the basis of reporting, such as net assets (real equity), , indicators of the provision of reserves with own working capital. These indicators are criterial, since they are used to formulate criteria to determine the quality of the financial condition.

The analysis of the financial condition is carried out not only by the managers and relevant departments of the enterprise, but also by its founders, investors in order to study the efficiency of the use of resources, banks - to assess credit conditions and determine the degree of risk, suppliers - to receive payments in a timely manner, tax authorities - to fulfill the revenue plan funds to the budget, etc. In accordance with this, the analysis is divided into internal and external.

Internal analysis conducted by the services of the enterprise, and its results are used to plan, control and predict the financial condition of the enterprise. Its goal is to ensure the systematic flow of funds and place own and borrowed funds in such a way as to create conditions for the normal functioning of the enterprise, maximizing profits and eliminating the risk of bankruptcy.

External Analysis carried out by investors, suppliers of material and financial resources, regulatory authorities on the basis of published reports. Its goal is to establish an opportunity to invest funds profitably in order to ensure maximum profit and eliminate the risk of loss.

The basis of the analysis of the financial condition is the analysis of financial statements.

1.4. Methodology for assessing the composition, structure and dynamics of the property of an enterprise and the sources of their formation

The financial condition of the enterprise is expressed in the ratio of the structures of assets and liabilities, i.e. enterprise funds and their sources. The main tasks of the analysis of the financial condition are to determine the quality of the financial condition, study the reasons for its improvement or deterioration over the period, preparation of recommendations to improve the financial stability and solvency of the enterprise. These tasks are solved on the basis of studying the dynamics of absolute and relative indicators.

The economic potential can be characterized in two ways: from the position of the property and from the position of the financial position, they are interconnected, since the irrational structure of property, its poor-quality composition can lead to a deterioration in the financial situation and vice versa. Comparative analytical balance and indicators of financial stability reflect the essence of the financial condition. The liquidity of the balance sheet characterizes the external manifestations of the financial condition, therefore their assessment and analysis constitute the starting point from which the final block of the analysis of the financial condition should develop.

The purpose of the analysis and assessment of the property status (balance sheet structure) is to study the structure and dynamics of the enterprise's funds and their sources in order to get acquainted with the overall picture of the financial condition. This analysis is preliminary, as as a result of its implementation, it is still impossible to give final evaluation the quality of the financial condition, which requires the calculation of special indicators.

Analysis of property status is preceded by overall score the dynamics of the balance sheet total, obtained by comparing the growth rate of the balance sheet with the growth rate of financial results (revenue, profit). If the growth rate of financial results is greater than the growth rate of the balance sheet currency, then in the reporting period the use of the enterprise's property was more efficient than in the past. If the growth rate of profit from the sale of products is greater than the growth rate of the balance sheet, and the growth rate of revenue is less, then the increase in the efficiency of the use of property occurred only due to an increase in prices for products (works, services). If the growth rate of financial results is less than the growth rate of the balance sheet, then this indicates a decrease in the efficiency of the organization.

The analysis and assessment of the property status is carried out according to the balance sheet using one of the following methods:

1. Analysis directly on the balance sheet without first changing the composition of balance sheet items;

2. Analysis based on comparative analytical balance;

3. Analysis using the adjustment of the balance sheet for the inflation index, followed by consolidation of items.

Analysis directly on the balance sheet is a time-consuming and inefficient procedure, since too many calculated indicators do not allow us to identify the main trends in the financial condition.

An analysis of the property status is recommended to be carried out using a comparative analytical balance sheet, which can be obtained from the original one by consolidating individual items and supplementing it with various indicators, which are divided into three groups:

1. Structural indicators (absolute values ​​and specific gravity).

2. Indicators of dynamics (changes in the values ​​of indicators).

3. Indicators of structural dynamics (percentage change in values ​​at the beginning of the period, percentage change to the change in the total (currency) of the balance sheet).

This balance actually includes indicators of horizontal and vertical analysis, which makes it possible to simplify the work on their implementation. To understand the overall picture of changes in the financial condition, indicators of structural dynamics are important, since they can be used to draw a conclusion about the sources through which the inflow of new funds was and in which assets they were invested. Relative indicators, on the other hand, smooth out the negative impact of inflationary processes, which can significantly distort the absolute indicators of financial statements and thereby make it difficult to compare them in dynamics. Analyzing the comparative balance, it is necessary to pay attention to changes in the share of working capital in the value of property, as well as to the ratio of the growth rates of equity and borrowed capital and the growth rates of receivables and payables. With stable financial stability, the enterprise should increase in dynamics the share of its own working capital. The growth rate of equity capital should be higher than the growth rate of borrowed capital, and the growth rates of receivables and payables should balance each other.

When analyzing the change in the balance sheet currency, it should be taken into account that a decrease in the currency indicates a reduction in the economic turnover of the enterprise, which could lead to its insolvency. Establishing the fact of curtailment of economic activity requires a thorough analysis of its causes:

Reduction of effective demand for goods of the enterprise;

Restriction on the market access to the market of raw materials, materials;

Gradual inclusion in the active economic turnover of branches at the expense of the main organization.

Analyzing the increase in the balance sheet currency, it is necessary to take into account the impact of the revaluation of fixed assets, it is most difficult to take into account the impact of inflationary processes, but without this it is difficult to conclude whether the increase in the currency is a consequence of the rise in the cost of finished products under the influence of inflation of raw materials, or it indicates the expansion of financial and economic activity.

In general, the signs of "good" are:

1) increase in the balance sheet;

2) excess of own capital over borrowed capital, including their growth rates;

3) excess of the growth rates of current assets over the growth rates of non-current assets;

4) approximately the same growth (decrease) rates of receivables and payables;

5) the absence of sharp changes in individual balance sheet items;

6) the absence of losses, overdue debts, etc. in the balance sheet.

Thus, the analysis of the dynamics of the currency, the structure of assets and liabilities allows us to draw a number of important conclusions that are necessary both for the implementation of current activities and for making decisions for the future. In order to deepen and detail the assessment of the property status, it is necessary to build a comparative analytical table.

When assessing the property status, a number of indicators used in the analysis of the financial and economic activities of the enterprise are used.

1. The amount of economic funds at the disposal of the enterprise. This indicator gives a generalized valuation of assets on the balance sheet of the enterprise. This accounting estimate, which does not coincide with the total market value of the company's assets. The growth of this indicator indicates an increase in the property potential of the enterprise.

2. The share of the active part of fixed assets. The growth of this indicator in dynamics is usually regarded as a favorable trend.

3. Wear coefficient. The indicator characterizes the share of the value of fixed assets remaining to be written off as expenses in subsequent periods. Usually used in the analysis as a characteristic of the state of fixed assets. The addition of this indicator to 100% (or 1) is the shelf life coefficient.

4. Refresh rate. Shows what part of the fixed assets available at the end of the reporting period are new fixed assets.

5. Dropout rate . Shows what part of the fixed assets with which the company began operations in the reporting period, retired due to dilapidation and other reasons.

An analysis of the property of an enterprise is carried out to determine the general trends in changes in the structure of the balance sheet, to identify the main sources of funds (sections of the liability balance) and directions for their use (sections of the asset balance).

1.4.1. BALANCE BETWEEN THE ASSETS OF THE ENTERPRISE AND

SOURCES OF THEIR FORMATION.

The most complete financial stability of the enterprise can be disclosed on the basis of the study of the relationship between the assets and liabilities of the balance sheet. As you know, there is a close relationship between the assets and liabilities of the balance sheet. Each item of the asset balance has its own sources of funding. As a rule, the source of financing for long-term assets is equity and long-term borrowed funds. Cases of the formation of long-term assets and at the expense of short-term bank loans are not excluded.

Current (current) assets are formed both at the expense of own capital and at the expense of short-term borrowed funds. It is desirable that they be half formed at the expense of their own, and half - at the expense of borrowed capital. Then the external debt is guaranteed.

Depending on the sources of formation, the total amount of current assets (working capital) is usually divided into two parts:

a) a variable that is created at the expense of short-term liabilities of the enterprise;

b) a constant minimum of current assets (stocks and costs), which is formed at the expense of equity.

The lack of own working capital leads to an increase in the variable and a decrease in the permanent part of current assets, which also indicates an increase in the financial dependence of the enterprise and the instability of its position.

Own capital in the balance sheet is reflected in the total amount in the third section of the balance sheet. To determine how much of it is used in circulation (own working capital), it is necessary to subtract the amount of long-term (non-current) assets from the total amount for the third and fourth sections of the balance sheet (the first section of the balance sheet).

The total amount of permanent capital (the sum of the third and fourth sections of the balance sheet) is the total amount of non-current assets or the amount of current assets - the amount of short-term liabilities.

The amount of own working capital is equated to the amount of own working capital. The amount of own working capital can also be calculated in this way: subtract the amount of short-term financial liabilities from the total amount of current assets (the fifth section of the balance sheet). The difference will show how much current assets are formed from equity, or what will remain in the company's turnover if all short-term debts to creditors are repaid at the same time.

The distribution structure of own capital is also calculated, namely the share of own working capital and the share of own fixed capital in its total amount. The ratio of own working capital to its total amount is called the "capital maneuverability ratio", which shows how much of the own capital is in circulation, that is, in the form that allows you to freely maneuver these funds. The ratio should be high enough to allow flexibility in the use of the enterprise's own funds.

Equity maneuverability ratio= amount of own working capital / total amount of own capital (third section of the balance sheet).

The financial condition of business entities, its stability largely depends on the optimality of the structure of capital sources (the ratio of own and borrowed funds) and on the optimality of the structure of the enterprise's assets, and primarily on the ratio of fixed and working capital. The need for own capital is due to the requirements of self-financing of enterprises. It is the basis of their autonomy and independence. The peculiarity of equity capital is that it is invested on a long-term basis and is subject to the greatest risk. The higher its share in the total amount of capital and the lower the share of borrowed funds, the higher the buffer that protects creditors from losses, and, consequently, the lower the risk of loss. However, it should be borne in mind that financing the activities of an enterprise only at its own expense is not always beneficial for it, especially in cases where production is seasonal. Then, in certain periods, large funds will be accumulated in bank accounts, while in others they will be lacking. In addition, it should be borne in mind that if the prices for financial resources are low, and the enterprise can provide a higher level of return on invested capital than it pays for credit resources, then by attracting borrowed funds, it can increase the return on equity.

At the same time, if the enterprise's funds are created mainly from short-term liabilities, then its financial position will be unstable, since short-term capital needs constant operational work aimed at monitoring their timely return and attracting other capital into circulation for a short time.

Consequently, the financial position of the enterprise largely depends on how optimal the ratio of equity and debt capital is. Development of the correct financial strategy in this matter will help to improve the efficiency of the enterprise.

1.4.2. ASSESSMENT OF THE BALANCE ASSET STRUCTURE

The financial policy of any enterprise is to raise funds (balance sheet liability) and their placement (balance sheet asset). The effectiveness of the enterprise's activity largely depends on how rationally the funds are used, what are the directions of their investment. At the same time, it should be borne in mind that for the financial well-being of an enterprise, the amount of funds raised is often less significant than the "quality" of the placement.

The organization's assets consist of non-current (immobilized) and current (mobile) funds.

At the first stage of the analysis of the placement of funds in the asset balance, the ratio of working and non-current assets is estimated.

The balance sheet asset contains information about the placement of capital at the disposal of the enterprise. Each type of allocated capital corresponds to a separate balance sheet item. According to these data, it is possible to establish what changes have occurred in the assets of the enterprise, what part is the real estate of the enterprise, and what part is working capital. The main feature of the grouping of assets of the balance sheet is the degree of their liquidity (the rate of conversion into cash). On this basis, all balance sheet assets are divided into long-term, or fixed assets, and current assets. The funds of an enterprise can be used both in its internal turnover and outside it (accounts receivable, purchase of securities, shares, bonds of other enterprises).

Working capital can be in the sphere of production (stocks, work in progress, deferred expenses) and the sphere of circulation (finished products in warehouses and shipped to customers, funds in settlements, short-term financial investments, cash on hand and in bank accounts, goods, etc. .).

Capital can function in monetary and material forms. In the period of inflation, the presence of funds in the form of money leads to a decrease in their purchasing power, because. these items are not revalued due to inflation.

Depending on the degree of exposure to inflationary processes, all balance sheet items are classified into monetary and non-monetary.

Monetary assets are balance sheet items that reflect funds and liabilities in the current monetary value. Therefore, they are not subject to revaluation. These include cash, deposits, short-term financial investments, funds in settlements.

Non-monetary assets - fixed assets, unfinished capital construction, inventory, work in progress, finished goods, goods. The real value of these assets changes over time and prices and therefore needs to be revalued.

In the process of analyzing the assets of an enterprise, first of all, changes in their composition and structure should be studied and assessed. In the process of subsequent analysis, it is necessary to study in more detail the composition, structure and dynamics of fixed and working capital.

Long-term assets or fixed capital (immobilized assets) are investments with long-term goals in real estate, bonds, stocks, mineral reserves, joint ventures, intangible assets, etc.

Next, it is necessary to analyze and evaluate changes in the composition and dynamics of current assets as the most mobile part of capital, on the state of which the financial condition of the enterprise largely depends. At the same time, it should be borne in mind that a stable structure of working capital indicates a stable, well-established process of production and marketing of products. Its significant changes indicate the unstable operation of the enterprise.

After that, changes in each item of the balance sheet assets are studied in more detail.

1.4.3. EVALUATION OF THE COMPOSITION, DYNAMICS AND CONDITION OF FIXED ASSETS.

Particular attention is paid to the study of the state, dynamics and structure of fixed assets, as they occupy a large share in the long-term assets of the enterprise.

Fixed assets of the enterprise are divided into industrial-production and non-industrial, as well as non-industrial funds. The production capacity of an enterprise is determined by industrial production assets. In addition, it is customary to single out the active part (working machines, equipment, tools) and the passive part of the funds, as well as separate subgroups in accordance with their functional purpose (industrial buildings, warehouses, working and power machines, equipment, measuring instruments and devices, transport funds, etc.). Such detailing is necessary to identify reserves for increasing the efficiency of using fixed assets based on optimizing their structure. Of great interest in this case is the ratio of active and passive parts, power and working machines, because. from them optimal combination the capital productivity, capital profitability and financial condition of the enterprise largely depend.

According to accounting and reporting data, the following indicators are calculated, characterizing, respectively, the share of depreciation and the share of the commissioning part of fixed assets.

The state of the material and technical base is the most important factor in the efficiency of the enterprise's production activities. In the process of production, the operated fixed assets wear out physically and become morally obsolete. At each moment, with varying degrees of accuracy and conventionality, you can set the level of their physical and moral deterioration.

The degree of physical depreciation is determined in the process of depreciation. This process has traditionally been viewed in several ways as a way to:

a) definitions current assessment unworn part of fixed assets;

b) distribution of one-time costs to fixed assets for finished products;

c) accumulation of financial resources for the subsequent replacement of those leaving production process fixed assets or investments in new production.

1. Wear factor.

Depreciation kit = depreciation amount of OF / initial cost of OF.

It is measured in % and can be calculated both at the beginning of the year and at the end of the year, and on average for the year. An increase in the wear factor means a deterioration in the state of the fixed assets, but it should be borne in mind that the wear factor does not reflect the fact of wear and tear of the fixed assets, and the shelf life does not give an accurate assessment of their current value. The indicator characterizes the share of the value of fixed assets remaining to be written off as expenses in subsequent periods.

2. Validity factor.

Best before date = 1 – wear set or

expiration date = residual value of OF / initial cost of OF.

It is in addition to the wear factor.

3. Refresh rate.

K-t \u003d cost of received fixed assets / cost of fixed assets at the end of the period.

4. Dropout rate.

K-t = cost of retired fixed assets / cost of fixed assets at the beginning of the period.

5. Growth rate.

K-t = cost of fixed asset growth / cost of fixed assets at the beginning of the period.

An important task of analysis and evaluation is the study of the provision of the enterprise with basic production assets. The availability of certain types of machines, mechanisms, equipment, premises is established by comparing their actual availability with the planned demand necessary to fulfill the production plan.

1.4.4. VALUATION OF CURRENT ASSETS

To assess current assets, an analysis of the structure and dynamics of current assets is carried out. Evaluation of the positive and negative dynamics of stocks, receivables, short-term financial investments, cash should be carried out on the basis of comparison with the dynamics of financial results. With varying efficiency in the use of working capital, an increase in inventories in one case can be assessed as evidence of an expansion in the volume of activities, and in another case, as a result of a decrease in business activity and a corresponding increase in the period of turnover of funds.

For a complete analysis, the “quality” of current assets is of particular importance: the state of production resources, the liquidity of receivables, etc.

1) minimum degree of risk: cash, realizable short-term securities;

2) a low degree of risk: accounts receivable of enterprises with a stable financial position, stocks (excluding stale ones), finished products that are in demand;

3) medium degree of risk: work in progress, deferred expenses;

4) a high degree of risk: accounts receivable of enterprises in a difficult financial situation, finished products that are out of use, stale stocks - illiquid assets.

An increase in the share of assets with a high degree of risk worsens the financial stability of the enterprise. Considering that, in accordance with the current legislation, the tax on the property of an enterprise is levied on the entire set of fixed and current assets, the enterprise needs to "get rid" of such ballast. Thus, stale reserves and illiquid assets identified by the results of the inventory should be written off; for the amount of doubtful receivables, a reserve for doubtful debts is formed in accordance with the established procedure; finished products that are not in demand can be sold at a discount.

The duration of the turnover of funds is determined by the combined influence of a number of multidirectional factors of external and internal nature. The first should include the scope of the enterprise (production, supply and marketing, intermediary, etc.). Industry turnover at different enterprises is different. In most cases, the turnover of funds in small enterprises is much higher than in large ones. This is the advantage of small business. The economic situation in the country and the associated business conditions of the enterprise have no less impact on the turnover of assets. Thus, the inflationary processes taking place in the country, the absence of well-established economic relations with suppliers and buyers in most enterprises lead to a forced accumulation of stocks, which significantly slows down the process of turnover of funds.

A great influence on the turnover of capital invested in current assets, and, consequently, on the financial condition of the enterprise, is an increase or decrease in:

Stocks;

finished products;

work in progress;

Accounts receivable;

Remaining cash.

The accumulation of large stocks indicates a decline in the activity of the enterprise. Large excess reserves lead to the freezing of working capital, slowing down its turnover, resulting in the deterioration of the financial condition of the enterprise. At the same time, the lack of stocks also negatively affects the financial position of the enterprise, as prices for urgency of deliveries rise, production decreases due to downtime, sensitivity to rising prices for raw materials increases, and the amount of profit decreases. Therefore, each enterprise should strive to ensure that production is provided on time and in full with all the necessary resources and at the same time, so that they are not stale in warehouses.

A sharp increase in accounts receivable and its share in current assets may indicate an imprudent credit policy of the enterprise in relation to buyers, or an increase in sales, or insolvency and bankruptcy of some buyers. On the other hand, the company can reduce the shipment of products, then the accounts receivable will decrease. It is necessary to distinguish between normal and arrears. The presence of the latter creates financial difficulties, since the enterprise will feel a lack of financial resources for the acquisition of inventories, payment of wages, etc. In addition, the freezing of funds in receivables leads to a slowdown in capital turnover. Overdue accounts receivable also means an increase in the risk of non-payment of debts and a decrease in profits. Therefore, each enterprise is interested in reducing the maturity of payments due to it.

Cash management is just as important as inventory and receivables management. Since cash, being in cash or in bank accounts, does not generate income, they must be available at a safe minimum level. Having large balances of money for a long time can be the result of improper use of working capital.

In order for money to work for the enterprise, it is necessary to put it into circulation in order to make a profit:

Expand your production, scrolling through them in the working capital cycle;

Invest in profitable projects of other business entities in order to receive profitable interest;

Reduce the amount of accounts payable in order to reduce debt service costs;

Update fixed assets, acquire new technologies, etc.

1.4.5. ASSESSMENT OF THE STRUCTURE OF BALANCE LIABILITIES.

An organization's liabilities (i.e., the sources of funding for its assets) consist of equity and reserves, long-term liabilities, short-term liabilities, and accounts payable. In general, the sources of funds can be divided into own and borrowed.

The reasons for the increase or decrease in the property of the enterprise are established in the course of the changes that have occurred in the composition of the sources of its formation. Receipts, acquisitions, creation of property can be carried out at the expense of own and borrowed funds, the characteristic of the ratio of which reveals the essence of the financial situation. An increase in the share of borrowed funds, on the one hand, indicates an increase in the financial instability of the enterprise and an increase in the degree of its financial risks, on the other hand, an active redistribution of income from the creditor to the debtor enterprise. The structure of the liability is characterized by:

1. Debt to equity ratio, which is calculated by the formula:

kt = long-term liabilities + short-term liabilities / real equity.

2. Autonomy coefficient :

k-t = real equity capital / total value of the sources of funds of the enterprise.

Normal limits for coefficients of 0.5 - 1 mean that the company's liability can be covered by its own funds. The growth of the autonomy coefficient, indicating an increase in financial independence, and the decrease in the ratio of borrowed and own funds, reflecting a decrease in financial dependence, are assessed positively.

A preliminary analysis of the liability structure is carried out on the basis of a comparative analytical balance sheet. The table shows the share of changes for each type of sources of funds (own, borrowed) in the change in the total value of the sources of funds of the enterprise. As a result of the analysis, it is determined which increase in what type of sources of funds, own or borrowed, had the greatest impact on the increase in the property of the enterprise for the reporting period. A detailed analysis of the structure of liabilities and its changes is carried out for each aggregated type of liabilities. As a result of the analysis, liability items are determined for which the largest increase in the total value of sources of funds has occurred.

1.4.6. SOURCES OF OWN FUNDS.

The equity capital of an enterprise characterizes the total value of the enterprise's funds owned by it and used by it to form net assets. The formed own capital is the financial basis of the enterprise and includes sources and forms of functioning that are different in their economic content, principles of formation and use.

Functioning forms:

Authorized capital;

Extra capital;

Reserve capital;

Special financial funds;

Undestributed profits;

Sources of own funds formation:

External (attraction of additional share or equity capital, receipt by the enterprise of gratuitous assistance, etc.);

Internal (net profit, depreciation, etc.);

The most stable part of equity capital is the authorized capital, which, as a rule, does not change during the year at enterprises that have not changed their form of ownership. In general, an increase in the share of own funds in any form at the expense of any source contributes to the strengthening of the financial stability of the enterprise.

1.4.7. SOURCES OF BORROWING FUNDS

The effective financial activity of an enterprise is impossible without the constant attraction of borrowed funds, the use of which can significantly expand the volume of economic activity, ensure a more efficient use of equity capital, accelerate the formation of various trust funds and thereby increase the market value of the enterprise. Borrowed capital characterizes the total amount of financial liabilities of the enterprise.

Sources of borrowings include:

Long-term credits and loans;

Short-term credits and loans;

Accounts payable;

Dividend calculations;

Other current liabilities;

Long-term credits and loans are issued for the costs of technical improvement and improvement of the organization of production, for technical re-equipment, mechanization, implementation new technology etc. Such loans should be repaid on the basis of additional savings or profits received from the activities carried out.

Short-term loans and borrowings are used to form the working capital of the enterprise. The movement of sources of borrowed funds, the dynamics of their composition and structure is analyzed according to the data of Forms No. 1 and No. 5. At the same time, a trend in the volume and share of bank loans and loans not repaid on time is revealed. Any increase indicates that the company has financial difficulties.

Accounts payable, its volume, qualitative composition and movement characterize the state of payment discipline, indicating the degree of stability of the financial condition of the enterprise. In order to deepen the analysis of the quality of accounts payable, it is necessary to identify unjustified accounts payable and analyze its dynamics. Non-payments of the enterprise also testify to financial difficulties.

In accordance with the Law “On Bankruptcy” adopted in the Russian Federation, in case of non-payment of debt obligations, the enterprise may be declared insolvent, therefore, the analysis should establish the reasons for non-payments: the presence of unjustified receivables, the diversion of funds into the formation of excess inventories, low profitability, immobilization of working capital. In general, the purpose of analyzing the attraction and use of borrowed funds is to identify the volume, composition and forms of attraction, as well as assess the effectiveness of their use.

Analysis steps:

1. The dynamics of the total volume of borrowing is studied, the pace of this dynamics is compared with the growth rate of the amount of own financial resources, the volume of activities, and the total assets of the enterprise.

2. The main forms of borrowing are determined, the share of financial credit, commodity credit and internal accounts payable in the total amount of borrowed funds is analyzed in dynamics.

3. The ratio of the volumes of borrowed funds used by the enterprise for the period of their attraction is determined. For these purposes, an appropriate grouping is carried out, the dynamics of the ratio of short-term and long-term borrowed funds and their correspondence to the volume of current and non-current assets used are studied.

4. The composition of specific creditors of the enterprise and the conditions for the provision of various forms of credit by them are being studied.

5. We study the effectiveness of the use of borrowed funds in general and their individual forms (indicators of turnover and profitability). Turnover indicators are compared with the average period of equity turnover.

The results of the analysis performed serve as the basis for assessing the feasibility of using borrowed funds in the current volumes and forms.

1.5. EVALUATION OF THE FINANCIAL STABILITY OF THE ENTERPRISE.

1.5.1. SECURITY OF RESERVES WITH SOURCES OF THEIR FORMATION.

The total amount of reserves is taken into account in the balance sheet: line 210 + line 220.

1) equity = total of section 3 of the balance sheet liability

2) \u003d equity + long-term liabilities - non-current assets

3) borrowed capital = total of section 4 of the balance sheet + total of section 5 of the balance sheet

4) sources of stock formation:

own working capital + short-term credits and loans + suppliers and contractors + promissory notes payable + advances received.

1) non-current assets = total of section 1

2) current assets = result of section 2

3) stocks and costs = stocks + VAT

There are 3 types of financial stability:

1) Absolute financial stability:

own working capital >

Own working capital< запасы и затраты < источники формирования запасов

3) Unstable financial situation:

inventory and costs > own working capital

Absolute and normal stability of the financial condition is characterized by a high level of profitability and the absence of violations financial discipline.

The unstable financial condition is characterized by the presence of violations of financial discipline, interruptions in the receipt of funds to the current account, and a decrease in profitability.

The main ways to get out of an unstable financial condition are:

1) increasing the share of sources of own funds in current assets and optimizing their structure;

2) additional attraction of borrowed funds;

3) a reasonable reduction in the level of stocks.

The most risk-free way to replenish the sources of stock formation is to increase equity through the accumulation of retained earnings or through the distribution of net profit in accumulation funds, subject to the growth of the part not invested in non-current assets. All calculated indicators of availability, surplus or shortage of funds for the formation of reserves and costs at the beginning and end of the analyzed period are entered into the analytical table.

1.6. ANALYSIS AND ASSESSMENT OF LIQUIDITY AND SOLVENCY.

Liquidity -

The concepts of solvency and liquidity are close in content, but not identical. With a sufficiently high level of solvency of the enterprise, its financial position is characterized as stable. At the same time, a high level of solvency does not always confirm the profitability of investing in current assets, in particular, an excess stock of inventories, overstocking of finished products, and the presence of bad receivables reduce the level of liquidity of current assets.

Solvency analysis is of paramount importance for the organization, because it allows you to determine whether it is able to pay off current debts. It is the inability to repay the priority accounts payable in a timely manner that is an obvious sign of bankruptcy. To analyze solvency, it is necessary to determine what can be used as a means of payment and what debt must be repaid in the current period.

To means of payment include inventories, receivables, short-term financial investments, cash. Undoubtedly, the most liquid component of means of payment are those on current, settlement, foreign currency accounts in banks and the cash desk of the organization. cash, which can be used to pay off debt as soon as possible. But other listed current assets can be turned into money within the normal range. production cycle. You can get money for the sold reserves, i.e. finished products, goods, raw materials. Surplus raw materials and materials can be sold without processing or used in the production and production of finished products. Goods and finished goods if they are in demand, they will quickly find a buyer who will pay for them.

Short-term accounts receivable, which are expected to mature within 12 months and include receivables from buyers and customers and other short-term debts, is also treated as tender, subject to adjustment for allowance for doubtful debts or overdue and bad debts.

Short-term financial investments, representing financial assets(securities) acquired for a period of less than 12 months may also be regarded as a means of payment.

to payment obligations include short-term liabilities payable within 12 months, including loans and credits, debts to suppliers and contractors and other short-term creditors (to the budget - for taxes, employees of the organization - for wages, extra-budgetary funds - for social insurance contributions, etc.). These articles are shown in section 5 of the balance sheet liabilities. For greater accuracy, to determine short-term debt, it should also include the current component of long-term liabilities payable in the reporting period (ie, part of the principal or interest payable in the current year).

Payment means should be sufficient to repay short-term liabilities. But in addition to absolute cost values, relative indicators are important, allowing you to compare the solvency of small enterprises and multinational companies. One of these ratios is overall solvency ratio (Ko.pl.). It is calculated as the ratio of the amount of means of payment (mainly current assets) to the amount of short-term liabilities.

Co.pl. = Aob. : Okr .,

Where Aob.– current assets

okr.- Short-term liabilities.

The overall solvency ratio shows how many times the means of payment exceed the payment obligations. The approximate value of this coefficient is considered equal to 2 , i.e. for every ruble of short-term accounts payable, there should be two rubles of means of payment. However, in real economic activity, this coefficient is much lower. The overall solvency ratio, equal to 1,8 or 1,7 is considered quite sufficient for normally operating organizations. Its value depends on the industry affiliation of the organization. At trade organizations this indicator can be significantly lower than that of machine-building enterprises.

High values ​​of the overall solvency ratio (for example 5 or 6 ) do not at all indicate a high solvency of the organization, since not all working capital can be used equally quickly as a means of payment. The presence of large balances of finished products and goods in the organization's warehouse rather indicates difficulties with marketing than the ability to use such stocks as a means of payment. Large balances of work in progress or raw materials, not backed up by sales growth, speak of inefficient management. Even if they are sold, the proceeds, as a rule, are lower than the costs of acquiring or creating. Thus, for a more accurate determination of solvency, stocks should be excluded from the composition of means of payment. This adjustment is reflected in the calculation quick liquidity ratio (Click), which shows the ratio of current assets minus inventories and short-term liabilities:

Klikv. \u003d (Aob - Z) : Okr, where

W- reserves

indicative value click equals 1 , i.e. the most liquid current assets should be sufficient to cover short-term liabilities, or for each ruble of current debt there should be one ruble of the most liquid current assets. For trading organizations, the value of the quick liquidity ratio can be significantly lower 1 due to the fact that cash is usually used in settlements with buyers, and the share of deferred payment in payment is small. Quick liquidity ratio exceeding 1 , reflects an increase in receivables, which may be due to an increase in sales, changes in the timing of settlements with customers and such a negative phenomenon as overdue receivables. Therefore, when calculating the quick liquidity ratio, the value of net receivables (minus doubtful or overdue debts) should be used.

The most accurate indicator characterizing solvency is absolute liquidity ratio (Cabs.liq.), showing the ratio of cash and short-term financial investments to short-term liabilities:

cabs.liquid \u003d (Aob - Z - Dzab.): okr. = (Dav. + Fkr.) : Fr., where

Debt- accounts receivable;

dr.- cash;

Fkr.- short-term financial investments.

In foreign literature, the approximate value of the absolute liquidity indicator is given equal to 0,2 , i.e. for every ruble of current debt, the company must have at least 20 kopecks of cash.

The given solvency ratios are calculated according to the balance sheet data, and it should be borne in mind that such an item of current assets as deferred expenses is not a means of payment. And for more accurate calculations, short-term liabilities should also include the current component of long-term debt.

Liquidity of assets is the reciprocal of the time required to turn them into money.

The liquidity of the balance sheet is expressed in the degree of coverage of the obligations of the enterprise by its assets, the period of transformation of which into money corresponds to the maturity of the obligations. Analysis of the liquidity of the balance sheet consists in comparing the assets of the asset, which are grouped by the degree of their liquidity and arranged in descending order, and the liabilities of the liability, which are grouped by their maturity and arranged in ascending order of payment.

1.7. ASSESSMENT OF BUSINESS ACTIVITY

Evidence of the successful development of the organization is the growth of production and sales, both in value and in physical terms, an increase in labor productivity. The growth of the market share of manufactured products is also an important characteristic of the organization's business activity; it can be calculated only by using sectoral statistics along with reporting. An important addition to cost indicators are relative coefficients.

Asset turnover ratio (Kob.act) shows the ratio of sales proceeds to the value of assets. Or, how many rubles of sales proceeds fall on each ruble of the company's assets.

Kob.act. = P: Asredn., where

R- net proceeds from the sale of products, goods, works, services (i.e. net of value added tax, excises and other similar mandatory payments);

Aver.- the average value of the organization's assets (balance sheet total).

The asset turnover ratio characterizes the efficiency of the use of resources owned by the organization. An increase in this ratio indicates a more efficient use of funds. However, this ratio may be artificially high when switching to the use of leased fixed assets. Since current assets are an integral part of the assets, their reduction also improves the efficiency of the use of assets in general.

In addition to the turnover ratio, an important characteristic of the efficiency of the use of fixed assets is return on assets ratio (Kf.otd.), which is calculated by the formula:

Cf.det. = P: BSOavg., where

R- net proceeds from the sale of products, goods, works, services minus value added tax, excises and other obligatory payments;

BSOavg.- the average annual book value of fixed assets.

This ratio can be interpreted as the cost of sale (in rubles) attributable to each ruble invested in fixed assets. High values ​​of this coefficient testify to the efficient use of fixed assets; at the same time, a high degree of depreciation of fixed assets can lead to an overestimation of the return on assets.

1.8. PROFITABILITY EVALUATION.

The cost indicator of profitability is profit. Often, speaking about the profitable work of an organization, they mean making a profit.

The profit and loss statement contains several profit indicators that characterize different intermediate results of the organization's activities: gross profit ( Pval); revenue from sales ( Pprod); profit before tax ( Pdo cash); profit from ordinary activities ( Under); net profit ( Pch). Cost data alone does not allow us to determine the level of profitability and compare the work of organizations that differ in size and volume of production. The comparison is carried out on the basis of relative indicators, one of which is the profitability ratio of products, or profitability of sales, which has several modifications.

Profitability ratio of sales (products)

(Krent.pr.) is calculated as the ratio of net profit to net sales proceeds:

Krent.pr. \u003d Pch: R, where

Pch– net profit of the reporting period;

R- net proceeds from the sale of products, goods, works, services minus value added tax, excises and other similar obligatory payments.

Since net profit is obtained after deducting all expenses, it would be more correct to calculate the return on sales as the ratio of profit from sales to net sales revenue:

Krent.pr. = Ppr. : R, where

Ppr.- revenue from sales.

Both ratios can be obtained from the income statement. Profitability on net profit and profitability of sales show how many kopecks of net profit or profit from sales fall on each ruble of sold products.

An increase in the profitability ratio of sales may be the result of rising prices with constant production and sales costs, or a consequence of production costs with constant prices.

A decrease in the coefficient may indicate a decrease in demand for this product.

Another important indicator of profitability is gross profit margin (Krent.vp):

Krent.vp \u003d VP: P, where

VP- gross profit of the reporting period.

This coefficient is important in determining the break-even volume of production at cost, i.e. such cost of production (realization) at which the organization will not incur losses, but will not receive profit.

Return on equity ratio (Krent.sk):

Krent.sk \u003d Pch: SKavg, where

SCavg- the average value of equity for the period.

This ratio shows how many kopecks of net profit fall on each ruble of equity capital. It should be remembered that equity is represented not only by share capital, but also by retained earnings, reserves and additional capital. The return on equity is the higher, the lower its share in the total amount of resources used by the organization (the greater the share of borrowed resources). Thus, organizations that develop at the expense of borrowed funds are more profitable from the standpoint of shareholders, since they provide a greater return on their capital.

Return on assets ratio (Credit act) is calculated as the ratio of net profit ( Pch) to the average value of assets ( Asredn):

Credit act. = MF: Avg.

This coefficient shows how many kopecks of profit fall on each ruble of assets, i.e. how efficiently the company's resources are used. Naturally, this figure is lower for organizations with more capital-earnings. It can be increased by reducing non-current assets by using leased fixed assets, as well as by reducing the value of current assets. The latter, however, leads to a decrease in solvency and an increase in risks.

2. Analysis of the financial and economic activities of SOLO LLC

2.1. general characteristics.

SOLO LLC has been successfully working in the field of clothing production for 10 years. Own production allows you to quickly and on time fulfill orders of any volume. All clothing, both summer and winter, is produced in accordance with GOSTs and TUs and has certificates from ROSTEST of the Russian Federation.

SOLO LLC is engaged in a comprehensive solution of labor protection problems for special production conditions, supplying high-quality personal protective equipment from abroad.

Among the foreign partners of SOLO LLC are such well-known manufacturers of personal protective equipment (PPE) as:

- "AnsellEdmontIndustrial" (work gloves, shoe covers, aprons, hats);

- "Soll" (means of insurance against falling);

- "Auer" (respiratory systems and chemical protection suits);

- "MoldexMetrikAG" (dust and gas masks);

- "BACOUINTERSAFE" (personal respiratory protection, chemical-resistant overalls, welding equipment, eyewash);

- "LASLockweiler" (personal protective equipment for the head and face);

- "DuPon" (cut-resistant gloves and mittens; heat-resistant clothing, Tyvek suits);

- "PandaSport" (work shoes) and other companies.

Highly qualified managers provide an individual approach to each customer.

2.2. Assessment of property status

In order not to drown in the sea of ​​figures contained in the reporting, it is advisable to start by reading it, during which you can determine the main trends in the organization's activities and structural shifts in its development. When you first view the statements, you should keep in view no more than a dozen articles: assets, profit, sales, and some others. A normally developing organization from year to year will have a positive trend in the main indicators: balance sheet total, sales proceeds, net profit. Reducing the absolute values ​​of these items requires in-depth analysis.

The so-called horizontal, or trend, analysis of reporting, during which the growth or growth rate of each balance sheet item, income statement items and other reporting forms, will be greatly helped at the first reading. At the first reading of the financial statements, it is very useful to pay attention to the ratio of profit growth rates ( Tpr), realizations ( Tr) and assets ( Tact), which is expressed by the following inequality:

Tpr > Tr > Clock > 100%

Comparison of growth rates is drawn up in the form of table 2.2.1

Table 2.2.1

Comparison of the dynamics of assets and financial results

From the data in Table 2.2.1 it can be seen that in 2000 the growth rate of proceeds from the sale of core activities and net profit is less than the growth rate of assets. In practice, this is due to the development of new production technologies (the introduction of computer-aided design of special clothing models), the start of the construction of a new workshop, and the modernization of equipment, which in the current period are the cause of higher growth rates in asset values ​​and a temporary decrease in profit and sales growth rates. In 2001, the growth rate of proceeds from the sale of core activities and net profit was higher than the growth rate of assets, therefore, in 2001, the use of the organization's assets was more efficient than in the previous period. This means that the topics of growth in profit from sales are growing at a faster rate than the rate of change in revenue and the average value of assets. The change in assets, considered without comparison with the change in financial results, in itself is not very informative. In this situation, there was an increase in the average value of the balance sheet for 2001 by 159% . Thus, the dynamics of changes in the indicators of financial results and the average value of assets is positive.

In 2002, there was a general decrease in the value of assets and a slowdown in profit and sales growth. If in the future period the indicators do not begin to increase, then in the future the organization may experience financial difficulties.

To facilitate the analysis of the balance and for its clarity to internal and external users, we will draw up a net balance, that is, we will combine individual articles into groups.

Table 2.2.2. presented net balance

Table 2.2.2

Net balance

Calculation formula:

Liquid assets= The result of section 2 of the balance sheet - stocks - VAT.

inventories= inventory + VAT - deferred expenses.

For industrial enterprises, deferred expenses are associated with the launch of a series of new products.

Real estate= total of section 1 of the balance sheet.

Short-term liabilities= result of section 5 of the balance sheet - deferred income - reserves for future expenses.

long term duties= total of section 4 of the balance sheet.

Equity\u003d result of section 3 of the balance sheet - deferred expenses + deferred income + reserves for future expenses.

Deferred income and reserves for future expenses are funds equivalent to own.

An analysis of the property of an enterprise is carried out to clarify the general trends in changes in the structure of the balance sheet, identify the main sources of funds (own funds, borrowed, attracted sources) and directions for their use (fixed and working capital). The results of calculations for the analysis of the structure of the property of the enterprise are contained in table 2.2.3.

Table 2.2.3 presents the absolute values, their shares in the total value of the balance sheet, the coefficients of the real value of the property.

Table 2.2.3.

Property structure

Indicators	Absolute values ​​thous.rub.				specific gravity, %
				Back to top				Back to top
ASSETS
Total property	3707	4121	1592	233	100	100	100	100
OS by rest. cost	43	12	30	47	1,2	0,3	1,9	20,2
Fixed assets	43	12	30	47	1,2	0,3	1,9	20,2
current assets	3664	4109	1562	186	98,8	99,7	98,1	79,8
Material resources	55	0	6	101	1,5	0	0,4	43,3
Cash	284	364	126	22	7,7	8,8	7,9	9,5
Funds in settlements	3325	3745	1430	63	90	91	89,8	27
Coefficient of the real value of the property

Calculation formula

Total property= balance currency (balance total)

OS by residual value= OS on balance

Fixed assets= total of section 1 of the balance sheet

current assets= total of section 2 of the balance sheet

Cash= cash ++ short-term investments

Funds in settlements= debtors + other current assets + VAT

Coefficient of real property value =

Fixed assets + construction in progress + raw materials and materials + animals for growing and fattening + costs in work in progress + finished products / balance sheet total.

It is good when the ratio of the real value of the property is equal to 0,5 .

It can be seen from the data in the table that total cost property of the enterprise in 2002 compared with 2001 decreased by 414 thousand rubles, or 10%. But at the same time, compared with 2000, it increased by 2115 thousand rubles, or by 232%. The share of current assets in 2002 decreased in total assets by 0.9% compared to 2001. But at the same time, it increased in total assets by 0.7% compared to 2000. The share of non-current assets in 2002 increased in total assets by 0.9% compared to 2001, but at the same time decreased in total assets by 0.7% compared to 2000.

Analysis of indicators of property structure in 2000-2002. testifies to the outstripping growth rates of the share of mobile funds over the growth rates of immobilized assets. The growth rate of current assets in 2002 compared to 2000 is almost 2 times higher than the growth rate of non-current assets, which determines the tendency to accelerate the turnover of the entire set of assets and creates favorable conditions for improving the efficiency of the enterprise. Thus, the newly attracted funds are invested mainly in more liquid assets, which strengthens the financial stability of the enterprise.

Asset structure at the enterprise is characterized as follows. The share of non-current assets is 72,4% at the beginning of the year and 68,8% at the end of the year. During this period, there was a slight decrease in fixed assets by 2,1% or 290.9 thousand rubles and an increase in construction in progress by 469.8 thousand rubles. (the increase was 29,6% ).

The share of working capital increased in the structure of assets. Their growth was 20,1% , while there was a significant increase in cash, short-term financial investments, stocks. Of great importance is the fact of a decrease in accounts receivable for the reporting period by 62,9% or at 1441,7 thousand rubles, which positively characterizes the structure of the balance sheet and the situation is assessed positively. The increase in short-term financial investments and cash exceeded the increase in inventories. Thus, there was an increase in the most liquid assets.

In the structure of the company's property in 2001, there was a decrease in the share of non-current assets by 18 thousand rubles. or at 1,6% compared with 2000, and in 2002 - an increase in the share of non-current assets by 31 thousand rubles or at 0,9% compared to 2001.

In general, over 3 years, non-current assets decreased in value terms by 4 thousand rubles., or at 19% .

Only fixed assets are present in SOLO LLC as non-current assets.

The efficiency of the use of fixed assets is characterized by the coefficients:

1. update rate.

Kobn= value of fixed assets received: value of fixed assets at the end of the period

Characterizes the share of new funds in their total value at the end of the year.

2002 Kobn = 37: 43 = 0,86

year 2001 Kobn = 2: 12 = 0,17

2. Dropout rate.

Qsb = value of retired fixed assets: value of fixed assets at the beginning of the period

It characterizes the share of retired funds in their total amount for the period.

2002 kvyb = 6: 12 = 0,5

year 2001 kvyb = 20: 30 = 0,67

According to the values ​​of the coefficients of renewal and disposal in 2000 - 2002. it can be traced that almost a complete renewal of all fixed assets took place in SOLO LLC. Purchase of a new sewing and technological equipment should have a positive impact on the quality of manufactured products in the future.

2.2.2. Valuation of current assets.

Current assets in the reporting are presented in the form of inventories, receivables, short-term financial investments and cash.

Analysis of the structure and dynamics of current assets is presented in table 2.2.2.1.

Table 2.2.2.1.

Analysis of the structure and dynamics of current assets

Indicators	Absolute values ​​thous.rub.			specific gravity, %
Stocks	55	0	6	1,5	0	0,4
- Raw materials	48	0	0	1,3	0	0
- finished products	7	0	6	0,2	0	0,4
Accounts receivable	2917	3303	1242	79,6	80,4	79,5
Short term investments	0	0	0	0	0	0
Cash	284	364	126	7,8	8,9	8,1
Section 2 total	3664	4109	1562	100	100	100

Table 2.2.2.1 shows that the growth of current assets in 2002-2000. was observed mainly due to an increase in accounts receivable, which increased by 2061 thousand rubles. in 2001 compared to 2000 and 1675 thousand. rub. in 2002 compared to 2000. In 2002, there was a slight decline in receivables by 386 thousand rubles. compared to 2001.

The table also shows the increase in stocks in 2002 by 55 thousand rubles. compared to 2001 and 49 thousand rubles. compared to 2000. The changes are caused by the growth of raw materials and materials on 48 thousand rubles .

The share of cash in the total value of current assets during the study period has changed slightly. In 2001, it increased by 0,8% in relation to 2000, and in 2002 decreased by 1,1% compared to 2001. The amount of cash in the asset balance is insignificant. But since they are the most liquid assets, this affects the solvency of the enterprise.

2.2.3. Analysis of the structure of the company's liabilities.

An organization's liabilities (i.e., the sources of funding for its assets) consist of equity and reserves, long-term liabilities, short-term liabilities, and accounts payable. Generally, the sources of funds can be divided into own and borrowed (equalizing the latter and accounts payable).

LLC "SOLO" has no authorized capital.

The sources of own funds of the enterprise are equated:

Extra capital;

Undestributed profits;

Targeted funding and receipts;

Revenue of the future periods.

An analysis of the structure and dynamics of the company's liabilities is presented in Table 2.2.3.1.

Table 2.2.3.1.

Comparative analytical balance (passive).

Indicators	Absolute values ​​thous.rub.			specific gravity, %
Capital and reserves	730	589	193	19,7	14,3	12,1
- Extra capital	1	1	1	0	0	0
- Special-purpose financing	0	0	0	0	0	0
long term duties	0	0	0	0	0	0
Short-term liabilities	2977	3532	1399	80,3	85,7	87,9
- loans and credits	0	0	0	0	0	0
- accounts payable	2977	3532	1399	80,3	85,7	87,9
revenue of the future periods	0	0	0	0	0	0
Balance	3707	4121	1592	100	100	100

From table 2.2.3.1. it is obvious that the enterprise does not use borrowed sources of funds, for example, bank loans.

The attracted sources of funds of SOLO LLC include:

Short-term accounts payable.

80,3% funds in 2002, 85,7% funds in 2001 and 87,9% funds in 2000. During the period under study, there was a pleasant trend towards a decrease in short-term liabilities: in 2001, by 2,2% 5,4%

537 thousand rubles (by 396 thousand. rub. in 2001 and 141 thousand rubles. in 2002).

There are no earmarked financing and receipts in the balance sheet.

The capital structure is characterized by the indicator real equity, which is calculated as section 3 of the balance sheet liabilities - "losses" + "deferred income" - "reserves for future expenses" - "indebtedness of participants for contributions to the authorized capital" - "treasury shares redeemed from shareholders".

Real equity :

2000 - 193 thousand rubles;

2001 - 589 thousand rubles;

2002 - 730 thousand rubles.

The structure of liabilities is characterized :

1. debt to equity ratio :

borrowed funds (long-term and short-term)

real equity

2000 = 1399: 193 = 7.2

2001 = 3532: 589 = 6

2002 = 2977: 730 = 4.1

The ratio of borrowed and own funds is significant, but there is a tendency to decrease it. This indicates that the company is trying to be financed from its own capital in order to attract less borrowed sources of funds.

Autonomy coefficient :

Real equity capital / total value of the enterprise's sources of funds:

2000 = 193: 1592 = 0.12

2001 = 589: 4121 = 0.14

2002 = 730: 3707 = 0.2

The coefficient of autonomy is very small, but in 2 years it has almost doubled. Its values ​​indicate that the obligations of the enterprise cannot be covered by its own funds.

In general, analyzing the dynamics of changes in the liabilities side of the balance sheet, it can be said from the data in the table that the attraction of sources of resources occurred mainly due to accounts payable. The company needs to pay attention to a large share of accounts payable and take possible measures to reduce it.

2.3. Financial stability analysis

Financial stability is characterized by the availability of reserves and costs by the sources of their formation. For analysis, it is necessary to calculate the surplus or shortage of funds for the formation of stocks and costs, which is calculated as the difference between the value of sources of funds and the value of stocks.

Total reserves taken into account in the balance sheet: line 210 + line 220.

For analysis, first of all, it is necessary to determine the size of the sources of funds available to the enterprise for the formation of its reserves and costs.

Several indicators are used to characterize the sources of formation:

1) equity= total of section 3 of the liabilities side of the balance sheet

2) own working capital= equity + long-term liabilities - non-current assets

3) borrowed capital= total of section 4 of the balance sheet + total of section 5 of the balance sheet

4) :

own working capital + short-term credits and loans + suppliers and contractors + promissory notes payable + advances received.

These indicators correspond to three indicators of the availability of reserves and costs by sources of formation:

1) fixed assets= total of section 1

2) current assets= total of section 2

3) inventory and costs= stocks + VAT

The calculation of these indicators makes it possible to classify financial situations according to their degree of stability.

An analysis of the financial stability of SOLO LLC is presented in Table 2.3.1.
Table 2.3.1.

Financial stability analysis

Indicators	Absolute values ​​thous.rub.			specific gravity, %
Assets
Fixed assets	43	12	30	1,16	0,29	1,88
current assets	3664	4109	1562	98,84	99,71	98,12
Stocks and costs	463	442	194	12,49	10,73	12,19
Balance	3707	4121	1592	100	100	100
Passive
Equity	730	589	193	19,69	14,29	12,12
Own working capital	687	577	163	18,53	14,00	10,24
Borrowed capital	2977	3532	1399	80,31	85,71	87,88
Sources of stock formation	3584	4001	1393	96,68	97,09	87,5
Balance	3707	4121	1592	100	100	100

Indicators	Change in absolute values, thousand rubles			Change in specific gravity, %
Assets
Fixed assets	+31	- 18	- 17	+ 0,87	- 1,59	- 18,29
current assets	- 445	+ 2547	+ 1376	- 0,87	+ 1,59	+ 18,29
Stocks and costs	+ 21	+ 248	+ 77	+ 1,76	- 1,46	- 38,02
Balance	- 414	+ 2529	+ 1359	X	X	X
Passive
Equity	+ 141	+ 396	+ 79	+ 5,4	+ 2,17	- 36,81
Own working capital	+ 110	+ 414	+ 96	+ 4,53	+ 3,76	- 18,52
Borrowed capital	- 555	+ 2133	+ 1280	- 5,4	- 2,17	+ 36,81
Sources of stock formation	- 417	+ 2608	+ 1223	- 0,41	+ 9,59	+ 14,54
Balance	- 414	+ 2529	+ 1359	X	X	X

There are 3 types of financial stability :

1) absolute financial stability:

own working capital > inventory and costs, i.е. there is a surplus of working capital.

It is extremely rare and represents an extreme type of financial stability, when all reserves are fully covered by their own working capital, i.e. the company is not dependent on external creditors.

2) Normal financial stability, which guarantees the solvency of the enterprise:

Own working capital< запасы и затраты < источники формирования запасов

3) unstable financial situation:

inventory and costs > own working capital

From table 2.3.1. the following conclusions can be drawn:

The financial situation of the enterprise in 2000 is equated to normal financial stability;

The financial situation of the enterprise in 2001 is equal to absolute stability;

The financial situation of the enterprise in 2002 is equal to absolute stability.

2.3.1. Analysis of relative indicators of financial stability

The stability of the financial condition is characterized by a system of financial ratios. Their analysis consists in comparing them with the base values, as well as in studying their dynamics for the reporting period.

Table 2.3.1.1.

Analysis of financial ratios

Coefficient name	normal limit		At the end of 2001	At the end of 2000
1.Autonomy	Over 0.5	0,2	0,14	0,12
2. Borrowed capital	Less than 0.5	0,8	0,86	0,88
3. Equity multiplier	5,08	7,00	8,25
4. Coefficient of financial dependence	Less than 0.7	4,08	6,00	7,25
5. Kt long-term financial independent.	0,2	0,14	0,12
6. Structure kit long-term investments	0	0	0
7. Long-term security kit investment	0,06	0,02	0,15
8. Coating kit percent	More than 1	-	-	-
9. Kt of security with own working capital	Over 0.1	0,19	0,14	0,1
10.K-t maneuverability	0,2 - 0.5	0,94	0,98	0,84

1. Autonomy coefficient .

Shows to what extent the assets used by the enterprise are formed at the expense of equity capital.

Kavt = Equity / balance sheet currency.

In our case, in 2002 only 20% the company's assets are formed at the expense of equity capital. Conclusion: the company does not have sufficient independence and opportunities to conduct an independent financial policy.

2. Debt ratio.

The inverse of the autonomy coefficient. Reflects the share of borrowed funds in funding sources.

Kzk = 1 - the value of the coefficient of autonomy

3. Equity multiplier

Reflects the ratio of all funds advanced to the enterprise, and equity

Msk = Assets: Equity

4. Financial dependency ratio

Reflects the extent to which the enterprise depends on external sources of financing, i.e. how much borrowed funds attracted the enterprise for 1 ruble of equity capital. It also shows a measure of the ability of the enterprise, having liquidated its assets, to fully pay off accounts payable. Exceeding this limit means loss of financial stability.

Kzav. = Amount of capital raised: equity

The coefficient of financial dependence in 2002 is 4,08 , and in 2001 - 6 . This means that for 1 ruble of equity capital, the enterprise attracted in 2002 4,08 , and in 2001 6 rubles of borrowed capital, i.е. SOLO's dependence on external sources is high.

5. Long-term financial independence ratio .

The degree of independence of the enterprise from short-term borrowed sources of financing.

Kdfn = Equity + Debt on a long-term basis: Assets

In our case, this coefficient is equal to the autonomy coefficient, since SOLO LLC has no long-term obligations.

6. Long-term investment structure ratio

Shows what part of non-current assets is financed by long-term borrowed funds

Long-term liabilities: Non-current assets

In our company, this ratio is 0 due to the lack of long-term commitments.

7. Long-term investment coverage ratio .

Shows the share of invested capital immobilized in fixed assets.

Kodi = Non-current assets: (Equity + Long-term liabilities)

Cody 2002 = 0,06; Cody 2001 = 0,02; Cody = 0,15

8. Interest coverage ratio .

Shows how much the received profit ensures the payment of interest on loans. Or, how many times the business has earned money to pay interest on loans during the period.

Operating income: Interest payable

9. Working capital ratio .

It characterizes the availability of own working capital necessary for the financial stability of the enterprise.

Cob = Own current assets: Current assets

Cob 2002 = 0,19; Cob 2001 = 0,14; Cob 2000 = 0,1

At the end of the period under review, the value of the coefficient is within the recommended range.

10. Agility factor .

Shows what share is occupied by equity capital invested in working capital in the total equity capital of the enterprise.

Own working capital: Own capital

km 2002 = 0,94; km 2001 = 0,98; km 2000 = 0,84

An analysis of the dynamics of the coefficients allows us to conclude that the financial condition of the enterprise is assessed as financially unstable, since the coefficient of financial dependence significantly exceeds the indicated limits. The share of borrowed capital is high in comparison with own capital.

2.4. Analysis of solvency and liquidity

The solvency of the enterprise it is the ability to repay their financial obligations in a timely manner and in full.

Liquidity - this is the ability of certain types of property values ​​to turn into monetary form without loss of their book value.

The liquidity of the balance is determined by the establishment of inequalities between the obligations of the enterprise and its assets

Depending on the degree of liquidity, assets are divided into groups:

1) The most liquid assets (NLA):

cash + short-term financial investments

A1 = p. 250 + 260

2) Marketable assets (BRA):

short-term accounts receivable and other current assets

A2 = p. 240 + 270

3) Slowly realizable assets (MRA):

inventories less deferred expenses and VAT on acquired valuables

A3 = p. 210 - 216 + 220

4) Hard-to-sell assets (TRA):

The result of section 1 of the balance sheet

A4 = page 190

Liabilities of the balance grouped according to the degree of urgency of their payment:

1) The most urgent obligations (NSO):

accounts payable

P1 = p. 620

2) Short-term liabilities (KP):

short-term loans and borrowings, other short-term liabilities

P2 \u003d p. 610 + 660

3) Long-term liabilities (LT):

long-term credits and loans

P3 = p. 590

4) Permanent liabilities (PP):

equity – deferred expenses + debt on dividend payment + deferred income + reserves for future expenses;

P4 \u003d p. 490 - 216 + 650 + 630 + 640

The balance is considered to be absolutely liquid if the following inequalities are satisfied:

A1>=P1; A2>=P2; A3>=P3; A4<=П4.

Liquidity analysis of the balance sheet of SOLO LLC is presented in Table 2.4.1.

Table 2.4.1.

Liquidity indicators

Payment surplus (deficit)
Assets	2002	2001	2000	Passive	2002	2001	2000	2002	2001	2000
A1	284	364	126	P1	2977	3532	1399	- 2693	- 3168	- 1273
A2	2917	3303	1242	P2	0	0	0	+ 2917	+ 3303	+ 1242
A3	463	442	194	P3	0	0	0	+ 463	+ 442	+ 194
A4	43	12	30	P4	730	589	193	+ 687	+ 577	+ 163
Balance	3707	4121	1592	Balance	3707	4121	1592

Calculation data when comparing the results of the above groups by asset and liability show that the balance sheet of the enterprise is illiquid

The fulfillment of the first three inequalities entails the fulfillment of the fourth inequality, which indicates that the condition of financial stability is met - that the enterprise has its own working capital.

Greater or lesser current solvency is due to a greater or lesser degree of security of current assets with long-term sources. To assess solvency, three relative indicators are used, which differ in the set of liquid assets considered as coverage for short-term liabilities.

1. Total solvency ratio

It characterizes the extent to which all short-term liabilities are secured by current assets.

Current assets: Short-term accounts payable

This ratio is used as one of the main indicators of the solvency and liquidity of the enterprise, as it shows the extent to which the short-term obligations of the enterprise are covered by its current assets, which are expected to turn into cash in time coinciding with the repayment of debts.

An enterprise experiencing financial difficulties begins to repay its existing debts more slowly, “eat up” the proceeds from current activities, and, if possible, resort to the use of borrowed funds. Short-term debt, therefore, may grow more rapidly than current assets, which will lead to a decrease in the overall solvency ratio.

As can be seen from table 2.4.2. the value of the overall solvency ratio in the considered time interval is not high enough, but there is a noticeable tendency to increase it. By the end of 2001, the ratio had increased by 0,04 compared with 2000, and in 2002 by another 0,07 compared to 2001. The company is still solvent, as its current assets exceed the amount of short-term debt.

2. Quick liquidity ratio .

Shows what are the possibilities of the enterprise to pay off short-term obligations with available cash, financial investments and attracting receivables for its repayment. Stocks, the forced sale of which may cause losses, are excluded from the calculation of this coefficient.

Klikv. =( Cash + Short-term financial investments + Accounts receivable) / Short-term accounts payable.

The quick liquidity ratio makes it possible to assess solvency better than the overall solvency ratio, since it includes their most liquid part in the calculation of assets.

In SOLO LLC, the quick liquidity ratio in the study period is within the normal range, tends to increase, but is still close to the critical value.

Klikv. 2002 = 1.08

click. 2001 = 1.04

click. 2000 = 0.98

According to the analysis of the quick liquidity ratio, SOLO LLC at the end of 2002 is solvent.

3. Absolute liquidity ratio.

Shows what part of short-term liabilities can be repaid with available cash and short-term financial investments.

cabs.liq = Cash + Short-term financial investments / Short-term accounts payable.

cabs.liq. 2002 = 0.1

cabs.liq. 2001 = 0.1

cabs.liq. 2000 = 0.09

Conclusion: The low value of the absolute liquidity ratio indicates the insufficiency of ready-made means of payment. The asset balance sheet data for 2000 - 2002 confirms that almost all liquid assets of the enterprise are in receivables, which implies effective debt collection to ensure solvency. If SOLO LLC does not have problems with debtors, it will be able to pay off its current debts.

Table 2.4.2.

2.5. BUSINESS ANALYSIS

The effectiveness of the enterprise's use of its funds is judged by various indicators of business activity. This group of indicators is also called indicators for assessing asset turnover, asset utilization ratios or asset management ratios, as well as indicators for assessing business performance, combined with profitability indicators. By the name of the indicators of this group, one can judge their purpose for the purposes of financial analysis.

Business activity indicators allow assessing the financial position of an enterprise in terms of solvency: how quickly funds can turn into cash, what is the production potential of the enterprise, whether equity and labor resources are used efficiently, how the enterprise uses its assets to generate income and profit.

The indicators of business activity used in financial analysis are shown in Table 2.5.1.

Table 2.5.1.

Business Activity Indicators

Indicators	Norm. values	2002	2001	2000
Asset turnover	The tendency to accelerate wrapping.	5,46	8,37	6,5
return on assets	777,42	1138,86	147,82
Debit turnover. debt	6,87	10,52	8,83
Debit circulation time. debt	53	35	41
	6108,3	7972	106,4
	5,5	8,43	6,5
	32,42	61,17	37,08
	6,57	9,7	7,5

1. Asset turnover .

Measures the turnover of funds invested in assets and shows whether assets are effectively used to generate income and profit.

Revenue (net) from sales / Average value of assets for the period

The turnover of all assets in use in 2000 was 6,5 . This means that every ruble of the company's assets turned into 6,5 once a year. In 2001, this figure was 8,37 ; and in 2002 - 5,46 .

An increase in the indicator in 2001 indicates an increase in the volume of sales of services. Reducing the coefficient to a value 5,46 in 2002 speaks of insufficient use of the company's assets. It is necessary to further increase the volume of sales of their services.

2. return on assets

Shows how much revenue is received per ruble of fixed assets.

Revenue (net) from sales / Average residual value of fixed assets

Fodd 2002 = 777.42

Fodd 2001 = 1138.86

Fodd 2000 = 147.82

3. Accounts receivable turnover

Shows how many times a year receivables are collected

Revenue (net) from sales / Average amount of accounts receivable for the period

The turnover of accounts receivable in 2000 was 8,83 41 days(365/8.83). That is, the average period of time that is required for an enterprise to receive money by selling products (services) is 41 days.

The turnover of receivables in 2001 amounted to 10,52 times, and the time of its circulation - 35 days.

The turnover of accounts receivable in 2002 amounted to 6,87 times, and the time of its circulation - 53 day.

The value of the indicator once again confirms the earlier conclusion that in order to maintain its solvency, the enterprise must strictly control accounts receivable.

4. Turnover of finished products

Shows how long the money is tied up in the finished product

Revenue (net) from sales / Average cost of finished products for the period

The values ​​of this coefficient show that finished products practically do not stay in the warehouse. LLC "SOLO" sews workwear to order. The value of finished products on the balance sheet reflects the samples of clothing in the showroom.

5. Working capital turnover

Reflects the rate of turnover of all the working resources of the enterprise (how much revenue a ruble of current assets brings).

Revenue (net) from sales / Average value of current assets for the period

Working capital turnover in 2000 was 6,5 , this means that each type of current assets was consumed and renewed again 6.5 times a year.

Working capital turnover in 2001 was 8,43 .

Working capital turnover in 2002 was 5,5 .

6. Equity turnover .

Shows the rate of turnover of equity capital, its activity.

Revenue (net) from sales / Average amount of equity capital for the period

The turnover of equity capital in 2001 increased compared to 2000 by 1.6 times(from 37.08 to 61.17). But since 2002, the turnover of equity capital has decreased compared to 2001 by almost 1.9 times(from 61.17 to 32.42), and compared to 2000 in 1,15 times (from 37.08 to 32.42). In general, the turnover of equity capital is quite high.

7. Total debt turnover

Shows how many turnovers are required to pay the entire debt.

Proceeds (net) from sales / Average amount of attracted borrowed capital for the period

The turnover of the total debt in 2000 was 7,5. This means that 7.5 turns will be required to pay the entire debt.

The turnover of the total debt in 2001 was 9,7 .

The total debt turnover in 2002 was 6,6 .

8. Turnover of attracted financial capital (debt on loans).

Shows how many turnovers are required to pay off debt on loans.

Proceeds (net) from sales / Average debt on loans for the period.

2.6. Profitability analysis

The intensity of the use of enterprise resources, the ability to receive income and profit is judged by profitability indicators. These indicators reflect both the financial position of the enterprise and the efficiency of managing economic activities, existing assets and capital invested by the owners. The indicators of this group, as well as business activity indicators, are of interest to all users.

The profitability indicators used in the financial analysis are shown in Table 2.6.1.

Table 2.6.1.

Profitability indicators

1. Return on assets (economic profitability ratio)

Shows how efficiently the company uses assets. From an investment point of view, it allows you to evaluate the possible profit when making investments.

Net income from all activities / Average asset value

Return on assets in 2000 was 0,09 . This means that for every ruble of assets, there are 9 kopecks of profit.

Return on assets in 2001 amounted to 0,14 .

Return on assets in 2002 amounted to 0,04 .

In 2001, we observe an increase in the coefficient, the company's resources are used more efficiently than in 2000. But in 2002 there was a decline in the efficiency of the use of enterprise resources. Return on assets became lower than in 2001, 2000.

2. Return on equity (financial profitability ratio)

Shows what is the efficiency (return) of the use of equity capital. In terms of investment, reflects the return on investment of shareholders.

Net income from all activities / Average cost of equity

Return on equity in 2000 was 0,51 . This means that for every ruble of equity capital, there are 51 kopecks of net profit.

Return on equity in 2001 was 1,01 .

Return on equity in 2002 was 0,21 .

3. Profitability of implementation (coefficient of commercial profitability).

Profit from sales / Revenue (net) from sales

The profitability of sales in 2000 was 0.02.

The profitability of sales in 2001 amounted to 0,03 .

The profitability of sales in 2002 amounted to 0,01.

Conclusion: Profitability of implementation is very small. Very little difference between sales (net) and cost of goods sold.

4. Profitability of current costs

Shows the efficiency of the costs incurred for the production of products.

Profit from sales / Cost of goods sold

Return on operating costs is very low. Very high cost of goods compared to the proceeds (net) from the sale.

5. Return on invested (used) capital

Shows what is the efficiency of using equity and borrowed funds on a long-term basis.

Net profit / Amount of equity and long-term borrowed capital

6. Profitability of sales

Net profit / Revenue (net) from sales

Return on sales in 2000 is 0,014.

Return on sales in 2001 is 0,017

Return on sales in 2002 is 0,007 .

Conclusion: very low profit margin on sales

Conclusion.

In conclusion, the conclusions of the analysis carried out and recommendations for optimizing financial and economic activities are presented, possible errors in planning the activities of SOLO LLC are indicated.

For the analyzed period from 2000 to 2002. The financial situation of SOLO LLC has improved markedly. The greatest surge in financial and economic activity occurred in 2001. In 2002, we can observe a slight decline in financial and economic activity compared to 2001. For 2000 - 2001 the growth rates of production volumes and sales of products, as well as the growth rates of the balance sheet (gross) and net profit, increased significantly. However, company managers should pay attention to the large value of the cost of goods in comparison with the proceeds (net) from the sale of goods. Significantly increased the value of the company's assets.

The dynamics of changes in the property structure is characterized by an increase in the total value of the enterprise's property for 2000-2002 by 3,474 thousand rubles. This indicates an increase in the economic turnover of the enterprise.

In general, for 3 years the share of working capital increased in the total amount of assets, their growth amounted to 19% or 3478 thousand rubles. The share of non-current capital decreased in total assets by 19% , and in value terms 4 thousand rubles. This testifies to the outstripping growth rates of the share of mobile funds over the growth rates of immobilized assets.

The increase in current assets was mainly due to the growth of receivables. Per 2 She has grown in recent years for 1675 thousand rubles. The leaders of SOLO LLC should pay special attention to working with debtors.

The growth rate of current assets is much higher than the growth rate of non-current assets, which determines the tendency to accelerate the turnover of the entire set of assets and creates favorable conditions for improving the efficiency of the enterprise. Thus, the newly attracted funds are invested mainly in more liquid assets, which strengthens the financial stability of the enterprise.

Thus, an increase in the share of working capital entails an acceleration in the turnover of total capital.

In the structure of liabilities, section 5 “Current liabilities” occupies the largest share, which accounts for 80,3% funds in 2002, 85,7% funds in 2001 and 87,9% funds in 2000. During the period under study, there was a favorable trend towards a decrease in short-term liabilities: in 2001, by 2,2% compared with 2000, and in 2002 by another 5,4% compared to 2001. Since accounts payable are among the most urgent obligations, its reduction favorably affects the overall solvency of the enterprise.

Equity includes retained earnings of previous years and retained earnings of the reporting year. In the study period 2002 - 2000. there was a general increase in capital by 537 thousand rubles . (for 396 thousand rubles. in 2001 and 141 thousand rubles. in 2002).

The company does not use long-term and short-term loans and borrowings.

The company needs to pay attention to a large share of accounts payable and take possible measures to reduce it.

Financial situation of the enterprise in 2001, 2002 equates to absolute stability - this is financial stability, when all reserves are fully covered by their own working capital, i.e. the company is not dependent on external creditors:

Own working capital is greater than the amount of stocks, excess own working capital.

The data of calculations of liquidity indicators when comparing the results of the above groups for assets and liabilities show that the balance sheet of the enterprise is illiquid, since the first inequality does not hold. Comparison of the first and second groups of assets with the first two groups of liabilities shows current liquidity, that is, solvency. A comparison of the third and fourth groups of assets and liabilities shows prospective liquidity, that is, a solvency forecast based on a comparison of future receipts and payments.

When calculating the solvency ratios, we can say that SOLO LLC is solvent, since its current assets exceed the amount of short-term debt.

All of the above allows us to conclude that the financial condition of SOLO LLC is quite stable and stable. The company is able to earn profit, manage property.

At the same time, as the results of the analysis show, the company still has sufficient reserves to significantly improve its financial condition. To do this, it is necessary to change the pricing policy; strive to reduce accounts payable. All these measures will allow the company to increase the level of profitability, replenish its own working capital, own working capital, and achieve a more optimal balance sheet structure. Making a profit is the main task of any economic entity for its existence and functioning. To do this, it is necessary to analyze and assess the current financial condition when the main goal is to increase the level of profitability, maximize profits, distribute it to reserve and other accumulation funds, and develop plans for the future.

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