The objects of analysis of financial statements are. Types of analysis of financial statements. About the volume of financial statements
Homework
Discipline: "Theory of Economic Analysis"
On the topic "The role of accounting in economic analysis"
Introduction
1. Concept and essence of financial statements
2. Financial reporting as an information base for financial analysis
Conclusion
Application
Bibliography
Introduction
The most important conditions for the functioning of market institutions is information that makes it possible to make informed economic decisions. To meet the general needs of interested users, a unified system of data on the property and financial situation and on the results of the organization's economic activities is formed - accounting statements.
The purposes of accounting, like analysis, are determined by the needs of the users. Therefore, it should contain data on the results of financial and economic activities, as well as on the current financial position and changes in it for the reporting period.
One of the main advantages of accounting as a means of communication is its analytical capabilities. Analysis of the organization's annual report is one of the main sections of the current activities of the financial services of the enterprise. Its importance is predetermined by the fact that in a market economy the financial statements of business entities, which are, in fact, the only means of communication, the reliability of which is very high and, under certain conditions, is confirmed by an independent audit, becomes an essential element of information support for the analysis of financial and economic activities. It is the financial statements, together with the statistical and current information of a financial nature, published by the relevant agencies in the form of analytical reviews on the state of the capital market, that allows you to get the first and fairly objective idea of the state and trends of changes in the economic potential of a potential counterparty or investment object.
1. The concept and essence of accounting.
Accounting (financial) reporting b is a set of reporting forms compiled on the basis of financial accounting data in order to provide users with generalized information about the financial position and activities of the enterprise, as well as changes in its financial position for the reporting period in the prescribed form for these users to make certain business decisions.
Reporting includes tables that are compiled according to accounting, statistical and operational accounting data. It is the final stage of accounting work.
Organizations prepare reports according to the forms and instructions (instructions) approved by the Ministry of Finance and the State Statistics Committee of the Russian Federation. A unified system of indicators for the organization's reporting allows you to compile reporting summaries for individual industries, economic regions, republics and throughout the national economy and the whole.
In accordance with the Federal Law "On Accounting" dated 21.11.96, No. 129-FZ (rev. 23, 11,2009) and the Regulation on accounting "Financial statements of an organization" (PBU 4/99), annual financial statements of organizations, with the exception of the reporting of budgetary organizations, it consists of:
1) balance sheet;
2) profit and loss statement;
3) annexes to them, provided for by regulatory enactments;
4) an auditor's report confirming the reliability of the organization's financial statements, if it is subject to mandatory audit in accordance with federal laws;
5) an explanatory note.
An explanatory note can provide an assessment of the organization's business activity, the criteria of which are the breadth of markets for products, including the availability of export supplies, the reputation of the organization, expressed, in particular, in being known to customers using the organization's services, etc .; the degree of fulfillment of the plan, ensuring a given growth rate; the level of efficiency of using the organization's resources, etc.
It is advisable to include in the explanatory note data on the dynamics of the most important economic and financial indicators of the organization's work over a number of years, descriptions of future capital investments, ongoing economic activities and other information of interest to potential users of annual financial statements.
Small businesses that apply a simplified taxation, accounting and reporting system are not obliged to audit the reliability of financial statements, may not submit reports on changes in capital and cash flows, an appendix to the balance sheet (forms No. 3, 4 and 5 ) and an explanatory note.
Non-profit organizations have the right not to submit a Cash Flow Statement (Form No. 4) as part of their annual financial statements, as well as, in the absence of relevant data, the Statement of Changes in Equity (Form No. 3) and Appendices to the Balance Sheet (Form No. 5).
Public organizations (associations) that do not engage in entrepreneurial activity and do not have, apart from the retired property, sales of goods (works, services), do not prepare interim financial statements.
These organizations do not submit reports on changes in capital and cash flows (forms No. 3 and 4), an Appendix to the balance sheet (form No. 5) and an explanatory note in the annual financial statements.
2. Financial reporting as an information base for financial analysis
The subject of economic analysis is the economic processes that together constitute the economic activity of the organization. The quantitative content and significance of business processes is expressed by economic indicators, and the quantitative side of the financial processes of business entities - by financial indicators. Most of the financial indicators are presented in the accounting (financial) statements, each line of which is a financial indicator. Let's consider the most significant indicators of accounting (financial) statements.
The balance sheet (form No. 1) is the most informative form for the analysis and assessment of the financial condition of the enterprise.
The main indicators of f. No. 1 "Balance sheet" and reference to it are: non-current assets; current assets; assets; balance currency; equity capital (capital and reserves); long-term and short-term liabilities; accounts receivable and payable; values recorded on off-balance sheet accounts.
The ability to read the balance sheet makes it possible to:
Get a significant amount of information about the company;
Determine the degree of provision of the enterprise with its own circulating
means;
Establish, due to which items the amount of working capital has changed;
Assess the general financial condition even without analytical calculations
indicators.
The importance of the balance sheet is so great that the analysis of the financial condition is often called the analysis of the balance sheet.
The main directions of analysis for a real assessment of the financial condition:
1.analysis of the financial condition in the short term consists in
calculation of indicators for assessing the satisfaction of the balance sheet structure.
2.Analysis of the financial condition for the long term explores
the structure of funds, the degree of dependence of the organization on investors and
creditors.
To assess the real analytical capabilities, it is necessary to know the limitations of the information presented in the balance sheet:
1. The balance sheet is historical in nature: it fixes the results of business transactions that have taken shape at the time of its compilation.
2. The balance reflects the status quo in the means of the organization, that is, it responds to
the question of what the organization is at the moment, but does not answer
to the question, which resulted in such a situation.
3. One of the significant limitations of the balance is the principle inherent in it
use of purchase prices. All fixed and working assets are assessed at the current prices of their acquisition, which in the context of inflation, rising prices, low renewal of fixed assets significantly distorts the real assessment of the property as a whole.
In f. No. 2 "Profit and Loss Statement", certificates and transcripts to it contain such indicators as: proceeds from the sale of goods, products, works, services; truncated and total cost of goods sold; gross profit, profit (loss) from sales; profit (loss) before tax; profit (loss) from ordinary activities; net profit (retained profit / loss) of the reporting period; operating income and expenses; non-operating income and expenses; extraordinary income and expenses; dividends per share; decoding of individual gains and losses.
In f. No. 3 "Statement of changes in capital" discloses private indicators of the movement of the organization's equity capital (authorized capital, additional and reserve capital, retained earnings, uncovered losses of the reporting year and previous years); their values are calculated as of the beginning and end of the year; reflects the receipt and use (expenditure) of all components of equity capital, estimated reserves.
In f. No. 3 for increasing analytical capabilities and implementation of the principle of transparency of its data included information on such factors of increasing equity capital as: additional issue of shares; revaluation of assets; increase in property; merger or acquisition of companies; an increase in income, which, in accordance with the accounting and reporting rules, are directly attributable to an increase in capital. It also contains information on the factors of reducing equity capital in connection with a decrease in the par and number of shares, the division and formation of new legal entities as a result of the reorganization of a previously operating legal entity, as well as at the expense of some expenses of the organization, which are now related to the reduction of its capital. To f. No. 3 a certificate is drawn up about the change in net assets at the end of the year compared to the beginning; on the costs of ordinary activities; on capital investments in non-current assets.
Topic 1.1. Types of financial analysis, techniques and methods of its implementation
Lecture plan:
Outline of a synopsis of theoretical material:
1 Financial analysis concept
2
3
5 Classification of types of financial analysis
7. Methodological basis of financial analysis
8 Stages of express analysis of financial statements. Net balance.
- Practical work 1. (vertical analysis)
- Practical work 1. Conducting vertical and horizontal analysis of the bukh. balance(horizontal analysis)
- Practical work 2. Using the techniques of financial analysis in the book. accounting
- Practical work 2. Continuation
Theoretical material
Introduction. Purpose, basic concepts, tasks of the analysis of financial statements
Analysis of financial statements - it is the process by which we assess the past and present financial position and performance of an organization. However, the main goal is to assess the financial and economic activities of our organization in relation to the future conditions of existence.
Analysisis a tool for cognition of objects and phenomena of the internal and external environment, based on dividing the whole into its component parts and studying them in interrelation and interdependence.
Economic analysis - This is a system of special knowledge associated with the study of economic processes and phenomena in their relationship, formed under the influence of objective and subjective factors.
The analysis of financial statements acts as a tool for identifying the problems of managing financial and economic activities, for choosing areas for capital investment and forecasting individual indicators.
1 Financial analysis concept
Financial analysis stood out from economic analysis and analysis of financial and economic activities. The financial analysis- the method of understanding the financial mechanism of an enterprise, the processes of formation and use of financial resources for its operational and investment activities - is part of the general study of business processes and has acquired very important and independent significance today. The financial analysis Is a process of researching the financial condition and the main results of the financial activity of an enterprise in order to identify reserves for further increasing its market value.
2 Subject, object and subject of financial analysis
Each science has its own subject of research, which it studies with a corresponding purpose by its inherent methods. No research subject - no science. The definition of the subject is of fundamental importance for substantiating the independence and isolation of a particular branch of knowledge.
Philosophy under subject any science (including AHD) understands some part or side of objective reality, which is studied only by this groin. The subject of a particular science should be considered that specific, which makes it possible to distinguish it among many other sciences.
The subject of financial analysis are financial resources and their flows
Analysis objectis what the analysis is aimed at. Depending on the tasks set, the objects of analysis of financial statements (AFO) can be: the financial condition of the organization, financial results, business activity of the organization, etc.
Subject of analysis is a person engaged in analytical work and preparing analytical reports (notes) for management, that is, an analyst.
3 Goals and objectives of financial analysis
The main purpose financial analysis is to obtain a small number of key (most informative) parameters that give an objective and accurate picture of the financial condition of the enterprise, its profits and losses, changes in the structure of assets and liabilities, in settlements with debtors and creditors.
As subgoals of FA, one can single out:
Assessment of the current and future financial condition of the enterprise;
Assess the possible and feasible pace of development of the enterprise from the standpoint of their financial support;
Identify available sources of funds and assess the possibility and feasibility of their mobilization;
Predict the position of the enterprise in the capital market.
Figure 1 - Objectives of financial analysis
home purpose of analysis- timely identify and eliminate shortcomings in financial activities and find reserves for improving the financial condition of the enterprise and its solvency.
The financial analysis decides the following tasks:
1) evaluates the structure of the property of the organization and the sources of its formation;
2) reveals the degree of balance between the movement of material and financial resources;
3) assesses the structure and flows of equity and debt capital in the process of economic circulation, aimed at extracting maximum or optimal profit, increasing financial stability, ensuring solvency, etc .;
4) evaluates the correct use of funds to maintain an efficient capital structure;
5) assesses the influence of factors on the financial results of activities and the efficiency of using the assets of the organization;
6) monitors the movement of financial flows of the organization, compliance with the norms and standards for the expenditure of financial and material resources, the feasibility of spending.
7) general assessment of the financial situation and factors of its change;
8) study of the correspondence between means and sources, the rationality of their placement and efficiency of use;
9) compliance with financial, accounting and credit discipline;
10) determination of the liquidity and financial stability of the enterprise, etc.
4 Functions and principles of financial analysis
The essence of financial analysis is manifested in its functions. Financial analysis performs analytical, synthetic (generalizing), predictive (predictive), economic and control functions. The characteristics of the functions of financial analysis are presented in table 1.
Table 1 - Characteristics of the functions of financial analysis
Function | Characteristic |
Analytical | the objects of financial analysis are selected, indicators characterizing the objects of analysis are determined, calculation methods are selected, the method of analysis and assessment methods are selected |
Synthetic (generalizing) | allows you to summarize the conclusions obtained from the analysis of different objects in different ways. |
Predictive (predictive) | forecasting the financial condition of an enterprise |
Economic | on the one hand, financial analysis is based on accounting data, and on the other hand, the results of financial analysis are used to improve the production process and other ways of generating income for an enterprise |
Control | Financial analysis allows you to timely track the imbalance in the financing of an enterprise, assess which types of production are profitable, how effective is the use of equity and debt capital. |
Financial Analysis Principles regulate the procedural side of its methodology and methodology. These include: consistency, complexity, regularity, continuity, etc.
5. Classification of types of financial analysis
Financial analysis, most often in the applied aspect, is understood as a process of researching the financial condition and the main results of the financial activity of an enterprise in order to identify reserves for further increasing its market value. Financial analysis is divided into separate types depending on the following characteristics.
1. By organizational forms of holding distinguish internal and external financial analyzes of the enterprise.
- internalfinancial analysis is carried out by the financial managers of the enterprise or the owners of its property using the entire set of available informative indicators. The results of such analysis may represent a trade secret of the enterprise.
- externalfinancial analysis is carried out by tax administrations, audit firms, banks, insurance companies in order to study the correctness of the reflection of the financial results of the enterprise, its financial stability and creditworthiness.
2. By research volume highlight the complete and thematic financial analyzes of the enterprise.
- fullfinancial analysis of the enterprise is carried out in order to study all aspects of the financial activities of the enterprise in a complex.
- thematicfinancial analysis is limited to the study of individual aspects of the financial activities of the enterprise. The subject of a thematic financial analysis can be the efficiency of using the assets of an enterprise, the optimal financing of various assets from separate sources, the state of financial stability and solvency of the enterprise, the optimal investment portfolio, the optimal financial structure of capital and a number of other aspects of the financial activity of the enterprise.
3. By object of analysis there are the following types:
- analysis of the financial activities of the enterprise as a whole. In the process of such analysis, the object of study is the financial activity of the enterprise as a whole, without highlighting its individual structural units and divisions;
- analysis of the financial activities of individual structural units and divisions. This analysis is based mainly on the results of management accounting of the enterprise;
- analysis of individual financial transactions. The subject of such analysis may be individual operations related to short-term or long-term financial investments, financing of individual real projects, and others;
- implementation of the financial plan;
- the financial condition of the organization;
- identification of reserves for the growth of profit and profitability.
4. By the period allocate preliminary, current and subsequent financial analyzes.
- preliminary financial analysis with the study of the conditions of financial activity in general or the implementation of individual financial transactions of the enterprise (for example, an assessment of its own solvency if it is necessary to obtain a large bank loan).
- current (or operational) financial analysis is carried out in the process of implementing certain financial plans or carrying out certain financial transactions with the aim of operatively influencing the results of financial activities. As a rule, it is limited to a short period of time.
- subsequent (or retrospective) financial analysis is carried out by the company for the reporting period (month, quarter, year). It allows for a deeper and more complete analysis of the financial condition and results of the financial activities of the enterprise in comparison with the preliminary and current analysis, as it is based on the completed reporting materials of statistical and accounting.
5. By the time of implementation:
- forward-looking analysis that is carried out before the implementation of business transactions;
- operational analysis that allows you to make adjustments to the current economic activity;
- retrospective analysis carried out after the completion of business operations and allowing you to monitor the implementation of the plan.
6. By the scope of the analyzed objects:
- solid analysis - contains conclusions about the financial and economic activities of all divisions of the organization;
- selective analysis - contains conclusions based on the results of a survey of only individual divisions of the organization.
7. According to the methodology:
- comparative analysis - consists in comparing the reported indicators of the results of economic activity with the indicators of the plan and data from previous periods;
- factorial analysis - aimed at determining the influence of individual factors on the change in performance indicators;
- diagnostic analysis - is a way to identify violations of the normal course of activities;
- operating analysis involves a method for assessing and substantiating the effectiveness of management decisions based on the causal relationship of sales, costs and profits;
- deterministic analysis - used to study the functional relationships between factors and performance indicators of the organization.
8. Depending on the goals and methods of financial analysis there are two main systems for its implementation:
- express diagnostics the financial condition of the organization. Express diagnostics gives an instant look at the situation and is designed to find and highlight the most important and complex financial management problems. This analysis does not take much time, since it does not contain complex calculations. Its purpose is early (preliminary) assessment of the financial condition of the organization to narrow the scope of the search for problems and their solution. Express diagnostics is aimed at studying the current aspects of the organization's activities;
- in-depth (fundamental) analysis of the financial and economic activities of the organization. The fundamental analysis of the financial and economic activities of the organization is intended to deepen and detail the assessments obtained as a result of express diagnostics, as well as to determine the real economic potential of the organization.
6 Structure of financial analysis
The structure of financial analysis is shown in Figure 3.
Figure 3 - Approximate structure of financial analysis
7. METHODOLOGICAL BASIS OF FINANCIAL ANALYSIS
Methodeconomic analysis is a dialectical method of cognition, a way of researching one's subject, that is, economic and financial processes and phenomena in their interrelation and interdependence.
The characteristic features of the method of economic analysis are:
* use of a system of analytical indicators that comprehensively characterize the financial and economic activities of the organization;
* study of the reasons for the change in these indicators;
* identification and measurement of causal relationships between them.
Methodologyanalysisis a system of rules and requirements that guarantee the effective application of the method.
Taken together, the method and technique represent methodological basis economic analysis.
Everything analytical methods can be divided into two large groups: qualitative (logical) and quantitative (formalized).
To qualitative (non-formalized, logical) methods include analytical techniques and methods based on logical thinking, on the use of the analyst's professional experience, on professional intuition. These include:
»Comparison method;
»Method of constructing systems of analytical tables;
»A method for constructing systems of analytical indicators;
»The method of expert assessments;
»Scripting method;
»Psychological and morphological methods, etc.
Quantitative (formalized) methods are techniques that use mathematics. As a result of their application, you can get a fairly accurate result or several results for further selection of the correct one using logical methods.
Quantitative methods can be divided into accounting, statistical, classical, economic and mathematical methods of analysis, etc.
When analyzing financial statements, you can use various methods (both logical and formalized). But to the most commonly used financial analysis methods relate:
»Method of absolute, relative and average values;
»Comparison method;
»Vertical analysis;
»Horizontal analysis;
»Analysis using financial ratios;
»The method of expert assessments.
V financial analysis practice allocate six basic methods:
The first method is - horizontal (time) analysis- comparison of each reporting item with the previous time period. Horizontal analysis is carried out using the following methods:
Easy comparison of financial statements and analysis of abrupt changes;
Analysis of changes in reporting items in comparison with changes in other items; in this case, special attention should be paid to cases when changes in one indicator by economic nature do not correspond to changes in another indicator.
Second method - vertical (structural) analysis- determination of the structure of the final financial indicators with the identification of the impact of each reporting item on the final result. Vertical analysis is carried out in order to identify the proportion of individual reporting items in the general, final indicator and then compare the result with the data of the previous period.
The third method is - comparative (spatial) analysis- This is an analysis that includes on-farm analysis of free reporting indicators for individual indicators of the firm, subsidiaries, divisions, shops, and inter-farm analysis of the indicators of the analyzed company with the indicators of competitors' firms, with industry average and average data.
The fourth method is factor analysis- analysis of the influence of individual factors (causes) on the effective indicator using deterministic or stochastic research techniques. Moreover, factor analysis can be either direct (analysis itself), when the effective indicator is divided into its component parts, or inverse (synthesis), when its individual elements are combined into a common effective indicator.
Fifth method - trend analysis- comparison of each reporting item with a number of previous periods and determination of the trend, i.e., the main trend of the indicator's dynamics, cleared of random influences and individual characteristics of individual periods. With the help of a trend, the possible values of indicators in the future are predicted, and accordingly, a long-term forecast of the analysis is carried out.
Sixth method - analysis of relative indicators (coefficients)- this is the calculation of the relationship between the individual items of the report or items of different reporting forms, the determination of the relationship of indicators.
Classification of methods of financial analysis
To solve specific problems of financial analysis, a number of special methods are used to obtain a quantitative assessment of certain aspects of an enterprise's activities. In table 1, the classification of financial analysis methods is made on three grounds: according to the degree of formalization, the tools used and the models used.
Table 1 - Classification of methods of financial analysis
font-size: 14.0pt; color: black "> 8 Stages express analysis of financial statements. Net balance.
Based on the tasks and the available information base, there are preliminary analysis (express analysis), based on accounting data, and in-depth analysis, carried out with the involvement of management accounting data.
The main purpose of express analysis- a general assessment of the property status of an economic entity, the volume and structure of funds attracted by it, its liquidity and solvency, identifying the main trends in their change.
Express analysis is carried out on the basis of public reporting data and is focused mainly on external users (buyers, creditors, investors, shareholders, suppliers).
Express analysis is carried out in several stages:
1. Checking the indicators of financial statements by formal and qualitative characteristics (compliance of the results, mutual linking of indicators of different forms of reporting).
2. The nature of the changes that took place in the analyzed period, in the composition of the enterprise's funds and their sources, is established.
9 Information support of financial analysis
Information, sources of information
The following sources of information are used to conduct financial analysis.
standards and instructions (the Civil Code, the Tax Code, federal chacons, decrees of the President, decrees and orders of the Government, regulatory documents of the Ministry of Finance, the Central Bank of Russia, the Ministry of Economic Development and Trade, and others);
plans and forecasts (draft budgets, exchange rates, information on market conditions, auditors' opinions, prospective and business plans of the enterprise, etc.);
reports (forms of accounting and statistical reporting);
reference and analytical information (official statistics, minutes of meetings, orders, contracts, unofficial data).
Accounting statements of the enterprise
The main source of information for analyzing the financial condition of an organization is financial statements. The financial statements are a system of indicators reflecting the property and financial position of the organization at the reporting date, as well as the financial results of its activities for the reporting period.
Forms of financial statements can be downloaded from the website of the Glavbukh journal: http: // www. ***** / ko / 23
d) in any expression
analysis ... ":
b) accounting method
e) forecasting method
enterprises
other balance sheet items
c) horizontal analysis
internal:
a) management personnel
c) creditors
d) accountants
e) internal auditors
c) internal users
zach measurements
a) non-current assets
a) Current assets>
c) Equity - Non-current assets> Current assets
niy is produced on the basis of:
a) vertical balance
b) horizontal balance
(form No. 1)
a) vertical balance
b) horizontal balance
c) factor analysis
analysis of financial statements
a) non-current assets
b) circulating tangible assets
c) current intangible assets
a) Current assets> (Long-term liabilities + Short-term liabilities)
b) (Equity - Non-current assets)> Current assets
a) vertical balance
b) horizontal balance
c) the balance sheet of the enterprise
a) stocks of the enterprise
b) accounts receivable
c) work in progress
a) indicators of dynamics
d) structure indicators
d) comparative analysis
enterprises
30. Balance currency is:
b) balance sheet total.
yatia is:
a) in the asset
b) in passive
a) in the asset
b) in passive
Using balance
1. Description of stocks and costs does not include:
a) analysis of the dynamics of stocks and costs
b) analysis of the stock level in days of consumption
c) the degree of supply of stocks and costs by the sources of their formation
d) analysis of the structure of stocks and costs
2. The ability of an enterprise to convert its assets into cash is:
a) liquidity
b) business activity
c) solvency
3. The most significant of the solvency ratios for investors is
acceptance is:
b) liquidity ratio
c) coverage ratio
4. The least liquid assets are:
a) accounts receivable
b) current tangible assets
c) non-current assets
5. Ranking of receivables by different payment terms allows
a) the amount of unjustified receivables
b) the amount of the reserve at the expense of justified receivables
c) the amount of unaccounted receivables
d) change in receivables compared to the previous period
6. To the movement of funds associated with the financial activities of the enterprise
tia does not apply:
a) obtaining a loan
b) issue of shares
c) payments of interest on loans
d) payment of taxes
e) receipt of share premium
7. Insert the missing phrase: “one of the main conditions for financial stability
the enterprise is the cash flow ... ":
a) "... from the current activities of the enterprise ..."
b) "... covering the costs of current activities ..."
c) "... providing coverage of its short-term obligations ..."
d) "... providing coverage of its obligations ..."
8. The rate of disposal of fixed assets is calculated taking into account:
a) the amount of fixed assets at the beginning of the reporting period
b) the amount of fixed assets at the end of the reporting period
d) depreciation of fixed assets
e) fixed assets received during the reporting period
f) the average value of fixed assets for the reporting period
9. Assessment of the possibility of unjustified diversion of funds from economic circulation
produced when:
a) analysis of the structure of stocks and costs of the enterprise
b) analysis of the ratio of the company's stocks and the value of non-current assets
c) analysis of the dynamics of stocks and costs of the enterprise
d) analysis of the ratio of various types of stocks and costs of the enterprise
10. The company has cash and cash equivalents sufficient to settle
that for accounts payable requiring immediate repayment is:
a) liquidity
b) solvency
c) payment surplus
11. The most significant of the solvency ratios for creditors is
acceptance is:
a) absolute liquidity ratio
b) liquidity ratio
c) coverage ratio
12. The most urgent commitments listed below are:
a) cash and short-term financial investments
b) long-term liabilities of the enterprise
c) equity capital of the enterprise
d) short-term bank loans
13. Hidden receivables arise from:
a) prepayment for the supply of goods, works, services by the enterprise
b) prepayments by the enterprise to suppliers for delivered goods, works, services
c) underpayment of taxes to the budget and off-budget funds
14. The main statutory activity of the enterprise related to the receipt of income is:
a) current activities
b) investment activity
c) financial activities
d) production activities
15. Lack of the company's own circulating assets is a characteristic:
a) absolute financial stability
b) normal financial stability
c) unstable financial condition
d) financial crisis
16. The amount of working capital when analyzing the current solvent
STI, which is:
a) the share of an active enterprise in non-current assets
b) the amount of excess of current assets over external liabilities
c) the amount of external liabilities of the company on an accrual basis for the year
17. When analyzing the balance sheet liquidity according to the formula: "Current assets of the company
we / external short-term debt "calculate the indicator:
a) absolute liquidity ratio
c) the total liquidity ratio:
18. When analyzing financial stability, about financial well-being
the firm will be evidenced by the indicator of the share of sources of own funds composition -
a) at least 50% of all sources
b) at least 30% of all sources
c) lack of own sources
19. When analyzing the turnover of current assets, the increase in the value of the
The turnover rate in dynamics will indicate:
a) on a slowdown in the turnover of current assets and an improvement in the financial
standing of the enterprise
b) on accelerating the turnover of current assets and improving the financial
Enterprise stands
c) on the acceleration of the turnover of current assets and the deterioration of the financial
standing of the enterprise
20. Working capital according to the degree of liquidity can be?
a) not liquid
b) quickly realizable
c) liquid
d) absolutely liquid
e) slowly implemented
21. The ability of an economic entity to quickly pay off its debt:
a) profitability
b) liquidity
c) financial stability
22. The ratio of own and borrowed funds:
a) the coefficient of autonomy
b) financial stability ratio
23. Is there a difference between the concept of liquidity of assets and liquidity of the bank
a) yes
24. Is the balance sheet absolutely liquid if A1> P1, A2> P2, A3> P3, A4> P4
b) no
25. The source of information for the analysis of the financial condition is the operational
reporting:
b) wrong
26. The liquidity of an enterprise means the liquidity of its balance sheet:
b) no
27. Accounts receivable is the most liquid asset item:
b) no
28. Sales and income are influenced by factors:
a) financial
b) production
c) commercial
d) all of the above
29. The cost of industrial and intellectual property and other property
social rights:
a) capital
b) fixed capital
c) intangible assets
d) working capital
30. With the growth of accounts receivable, the following is unfavorable for the enterprise:
a) a decrease in the average inventory turnover period
b) a decrease in the turnover of accounts receivable (measured in turnover
c) an increase in the indicator of accounts receivable turnover (measured in both
d) growth of the equity capital turnover indicator
e) an increase in the average term of inventory turnover
31. As a turnover when calculating the turnover rate of receivables-
nosti is used:
a) sales proceeds
b) proceeds from sales by bank transfer
c) cost of goods sold
32. The average term of payment of accounts payable is determined by the formula:
a) cost of goods sold / average payables
wives
b) the average amount of accounts payable / cost of sales
products
c) cost of goods sold * number of days in the reporting period /
average accounts payable
d) the average amount of accounts payable * number of days in the reporting pe-
riode / cost of goods sold
33. The duration of one turnover is determined by the formula:
a) average working capital * number of days in the reporting period /
Revenues from sales
b) sales proceeds / average working capital
c) average working capital / sales proceeds
34. The turnover for the inventory turnover indicator is:
a) sales proceeds
b) proceeds from sales by bank transfer
c) cost of goods sold
Stve) "
implementation of legislation on insolvency (bankruptcy) of enterprises "
22. The most affected by inflation are:
a) equity capital
b) materials and supplies
c) fixed assets
23. Diversion from the economic turnover of own circulating assets
enterprises are:
a) accounts payable
b) accounts receivable
c) debt to the budget
24. The longer the period for repayment of receivables, the:
a) more income generated by funds invested in debtors
b) less income generated by funds invested in debtors
c) income generated by funds invested in debtors does not change
25. The approach to forecasting the financial condition from the position of a possible bankruptcy
your enterprise is called:
a) calculation of the profitability index
b) calculation of the solvency index
c) calculation of the creditworthiness index
26. The current liquidity ratio is:
a) the ratio of current assets in inventories and other assets to the most urgent
Obligations
b) the product of working capital in inventories and other assets for the most urgent
commitments
c) the ratio of the most urgent obligations to circulating assets in stocks and products
sneeze assets
27. Coefficient of provision with own circulating assets:
a) the ratio of working capital in inventories, costs and other assets to own
working capital
b) the ratio of own circulating assets to circulating assets in inventories,
Costs and other assets
c) the product of its own circulating assets and circulating assets in stocks,
spending and other assets
28. The general provision of the enterprise with circulating assets is characterized by:
a) the coefficient of recovery of solvency
b) current liquidity ratio
c) the ratio of provision with own circulating assets
29. Coefficient of provision with own circulating assets characterizes:
a) the ability of the enterprise to restore or lose its solvency in
for a certain period
b) the general provision of the enterprise with circulating assets
c) the share of own circulating assets in their total amount
30. The coefficient of restoration (loss) of solvency is:
a) the ratio of the calculated current liquidity ratio to the established
Tests for the section "Analysis of financial statements"
Topic 1. Content and methods of analysis of financial statements
1. Data for external financial analysis can be presented:
a) only in value terms
b) only in kind
c) only in the form of conventional units
d) in any expression
2. Insert the missing qualitative financial analysis method: “horizontal
analysis, method of factor analysis, comparative analysis, vertical analysis, trend
analysis ... ":
a) method of financial indicators
b) accounting method
c) descriptive comparison method
d) method of financial standards
e) forecasting method
3. Accounting methods:
a) relate to quantitative methods of financial analysis
b) do not relate to methods of financial analysis
c) relate to qualitative methods of financial analysis
d) relate to economic and mathematical methods for evaluating financial statements
enterprises
4. Comparative analytical net balance is formed by:
a) combining a number of items of assets and liabilities of the balance sheet and deleting the "Losses" section
b) the transfer of a number of regulatory items from the asset to the liability of the balance sheet and the combination of other
other balance sheet items
c) only combining a number of balance sheet items
d) exclusion of regulatory items and the combination of a number of other balance sheet items
e) exclusion of duplicate indicators from the financial statements
5. Operational analysis and planning of enterprise activities are more typical
a) analysis of the comparative analytical net balance
b) analysis of the financial stability of the enterprise
c) horizontal analysis
d) external financial analysis
e) internal financial analysis
6. Which of the following groups of users of financial analysis does not belong to
internal:
a) management personnel
b) owners of controlling stakes
c) creditors
d) accountants
e) internal auditors
14. State control bodies relate to:
a) external interested users
b) external third party users
c) internal users
15. As part of the express analysis, the following is usually performed:
a) calculation and analysis of production indicators, expressed in natural units
zach measurements
b) assessment of the real amount of receivables
c) calculation and analysis of key financial indicators
d) assessment of average monthly cash balances
16. The stocks of the enterprise relate to:
a) non-current assets
b) circulating tangible assets
c) current intangible assets
17. Only for a normally functioning enterprise the following condition is fulfilled:
a) Current assets>
b) Non-current assets + Current assets = Equity + Long-term-
liabilities + Short-term liabilities
c) Equity - Non-current assets> Current assets
18. Express analysis of financial statements is not intended for:
a) a comparative assessment of a large number of enterprises in order to select one
or a group of preferable from the point of view of any criterion
b) familiarization with the external accounting statements of the enterprise
c) obtaining initial information about the enterprise
d) assessing the indicators of the internal accounting reporting of the enterprise
19. Determination of the proportion of individual items as a result of the balance sheet and assessment of its changes
niy is produced on the basis of:
a) vertical balance
b) horizontal balance
20. Short-term liabilities of the enterprise include:
a) long-term borrowed funds
b) accounts payable of the enterprise
c) cash and short-term financial investments
21. The percentage of inflation has the greatest impact on the results:
a) vertical balance
b) horizontal balance
c) factor analysis
22. Use of internal accounting data:
a) not required for express analysis of financial statements
b) mandatory for express analysis of financial statements
c) is required only at the final stage of the express analysis of the financial reporting
analysis of financial statements
23. Cash and short-term financial investments of the enterprise relate to:
a) non-current assets
b) circulating tangible assets
c) current intangible assets
24. For any enterprise the following condition is met:
a) Current assets> (Long-term liabilities + Short-term liabilities)
b) (Equity - Non-current assets)> Current assets
c) Non-current assets + Current assets = Equity + Long-
term liabilities + short-term liabilities
25. The characteristic of the relative growth / decline rates is made on
a) vertical balance
b) horizontal balance
c) the balance sheet of the enterprise
26. Current assets of an enterprise do not include:
a) stocks of the enterprise
b) accounts receivable
c) work in progress
d) long-term financial investments
27. The indicators of the comparative analytical net balance do not include:
a) indicators of dynamics
b) indicators of structural dynamics
c) indicators of trend analysis
d) structure indicators
28. Comparative analytical net balance is formed by combining the method
a) forecasting and planning the activities of the enterprise
b) horizontal and trend analysis
c) horizontal and vertical analysis
d) comparative analysis
e) structural and factor analysis. TESTS
29. When comparing the wear (suitability) rates of fixed assets of several pre-
acceptance, the unreliability of the results obtained may be associated with:
a) the difference in the methods of depreciation
b) the use in calculating the indicators of the value of the initial, and not the balance
how much value of fixed assets
c) the fact that when calculating the indicators, the value of intangible assets was not taken into account
enterprises
d) the fact that when calculating the indicators, the amount of capital investments was not taken into account
30. Balance currency is:
a) the monetary value of the balance sheet item;
b) balance sheet total.
30. The main sources of information analysis of the size and structure of assets of enterprises
yatia is:
a) F-1 "Balance sheet"
b) F-2 "Profit and loss statement"
c) F-3 "Statement of capital flows"
31. In what part of the balance sheet of the enterprise is the totality of its property
a) in the asset
b) in passive
32. What part of the company's balance sheet is information about the amount of working capital:
a) in the asset
Objects of analysis of financial statements, assessment of the information content of financial statements from the standpoint of the main groups of its users. 3
Assets .. 3
Obligations. 4
Capital. 5
Activity results. 6
Costs .. 7
Information content of financial statements. 7
Analysis of the composition and movement of the organization's capital. nine
Analysis of the financial situation of the enterprise. fourteen
Calculation of the relative indicators of financial stability of LLC "SKIF". 25
Calculation of indicators of the efficiency of economic activity of LLC "SKIF". 27
The analysis of the financial condition of the company SKIF LLC allows us to formulate the following conclusions: 31
Literature. 32
Objects of analysis of financial statements, assessment of the informativeness of financial statements from the standpoint of the main groups of its users
In the system of economic information, financial reporting is one of the most important management tools containing the most synthesized and generalized information, as well as the basis for an objective assessment of the economic activity of an enterprise, the basis for current and long-term planning, an effective tool for making management decisions.
Financial (accounting) reporting is a unified system of data on the property and financial position of an organization and on the result of its economic activities, compiled on the basis of accounting data in accordance with established forms.
The objects of analysis of financial statements are the assets and liabilities of the enterprise, its financial position and results of operations, capital and its movement.
Items directly related to the measurement of financial position are assets, liabilities and equity. They are defined as follows:
Assets are resources controlled by the company as a result of past events from which the company expects economic benefits in the future.
Commitment is the current debt of the company arising from past events, the settlement of which will lead to an outflow from the company of resources containing economic benefits.
Capital is the share in the assets of a company that remains after deducting all of its liabilities.
Assets
The future economic benefit embodied in an asset is the potential to flow directly or indirectly into the cash flow or cash equivalents of the entity. Potential can be productive, that is, it can be part of the company's operations. It can also take the form of convertibility to cash or cash equivalents, or the ability to reduce cash outflows, such as an alternative manufacturing process that reduces production costs.
An enterprise usually uses its assets to produce goods and services that can satisfy the wants and needs of customers; Since goods and services can satisfy wants and needs, buyers are willing to pay for them and thereby increase the company's cash flow. The money itself provides a service to the company, due to its importance in relation to other resources of the company.
The future economic benefits embodied in an asset can flow to the company in different ways. For example, an asset can be:
Used alone or in combination with other assets in the production of goods and services sold by the company;
Exchanged for other assets;
Used to pay off an obligation; or
Distributed among the owners of the company.
Many assets, such as property, plant and equipment, are in physical form. However, the physical form is not decisive for the existence of an asset, so patents and copyrights, for example, are assets if the company expects an inflow of economic benefits from them in the future, and they are controlled by it.
Many assets, such as accounts receivable and property, are associated with legal rights, including ownership. Ownership is not paramount in determining the existence of an asset. Thus, a leased property is an asset if the company controls the profits expected from the property. While the company's ability to control profits usually arises as a result of obtaining legal rights, it can nevertheless meet the definition of an asset even in the absence of legal control. For example, the know-how obtained from research activities may fit the definition of an asset, when by keeping the know-how secret, the company controls the profit expected from it.
The assets of the company arise from transactions and other events of past periods. Typically, companies acquire assets by buying or producing them, but other transactions or events can create them as well. Examples include property received by a company from the government as part of a program to encourage economic growth in the region and the discovery of mineral resources. Transactions or events that are expected to occur in the future are not assets in themselves, so, for example, an intention to buy stock does not in itself qualify as an asset.
There is a close relationship between the costs incurred and the assets generated, but they will not necessarily coincide. So, when a company incurs expenses, it may indicate that the aim was to make a profit in the future, but this is not sufficient evidence that an object that meets the definition of an asset has arisen. Likewise, the absence of a corresponding expense does not prevent the item from meeting the definition of an asset and, thus, qualifying for recognition in the balance sheet. For example, subsidized line items of a company might fit the definition of an asset.
Commitments
The most important characteristic of a liability is that the company has a current debt. An obligation is a duty or obligation to act or do something in a particular way. Obligations can be legally binding as a consequence of a legally binding contract or legal requirement. A typical example of this is the amount paid for goods and services received. However, obligations also arise from normal business practices, custom, and a desire to maintain good business relationships or act fairly. For example, if a company makes a political decision to rectify faults in its products, even when it is clear that they have arisen after the expiration of the warranty period, the estimated costs of the goods already sold are liabilities.
A distinction needs to be made between current and future commitments. Management's decision to acquire assets in a future period does not in itself give rise to a current liability. Typically, a liability arises when the asset is delivered or when the entity enters into a non-cancellable contract to acquire it. In the latter case, the irreversible nature of the contract means that the economic consequences of non-fulfillment of the obligation, for example, the presence of a significant fine, practically do not leave the company an opportunity to avoid an outflow of resources to the other party.
Settlement of a current obligation usually involves the refusal of the company from resources containing economic benefits in order to satisfy the claim of the other party. The settlement of a current obligation can be carried out in several ways, for example:
Payment of funds;
Transfer of other assets;
The provision of services;
Replacing one obligation with another; or
By transferring the liability to equity.
The obligation can also be settled by other means, such as refusal or loss of rights by the creditor.
Liabilities arise from transactions and other past events. Thus, for example, the purchase of goods and the use of services leads to the emergence of accounts payable (unless prepayment or payment on delivery is made), and obtaining a bank loan leads to an obligation to return it. An entity, based on information about annual purchases from customers, may also recognize refunds of overpayments in future periods as liabilities; in this case, the sale of goods in prior periods is the transaction giving rise to the liability.
Sometimes liabilities can only be measured with a significant degree of approximation. Some companies designate these liabilities as reserves. In some countries, such provisions are not treated as liabilities because the concept of a liability is more narrowly defined to include only amounts that can be determined without the use of accounting estimates. When a provision is related to a current liability and meets the rest of the definition, it is a liability, even if it is to be estimated approximately. Examples of such provisions are provisions for payments on existing guarantee obligations and provisions for pension obligations.
Capital
In the balance sheet, capital is divided into subclasses. For example, in a corporate entity, items such as contributions by shareholders, retained earnings, reserves representing allocations of retained earnings and reserves representing capital maintenance adjustments may be shown separately. Such a classification may be appropriate to meet the needs of users of financial statements at the decision-making stage when they identify legal or other constraints on an entity's ability to allocate or otherwise use capital. It may also reflect the fact that parties with interests in a company have different rights in relation to receiving dividends or capital refunds.
Provisions are sometimes mandated by articles of association or other law to give the company and its creditors an additional measure of protection against the consequences of losses. Other reserves may be created when national taxation law provides for tax exemptions or reductions when funds are transferred to such reserves. The presence and size of such legal, statutory or tax reserves is information that may be relevant to users in making decisions. The transfers to such reserves represent the use of retained earnings and not expenses.
The amount of equity shown on the balance sheet depends on the measurement of assets and liabilities. As a rule, the total amount of capital only coincidentally corresponds to the total market value of the company's shares or the amount that could be obtained from the sale of either net assets in parts or of the entire company as a going company.
Trading, manufacturing and other commercial activities are often carried out through companies such as private companies, partnerships and trusts, and various types of government agencies. The legal and regulatory framework for these companies often differs from those for corporate companies. For example, the distribution of the amounts included in the capital among the owners or other interested parties may be subject to only a few restrictions, or not at all. However, the definition of capital and other related aspects of this document are appropriate for such companies.
Performance results
Profit often used as a measure of performance or as a basis for other measurements such as earnings on investment or earnings per share. The elements directly related to the measurement of profit are income and expenses.
The elements of income and expenses are defined as follows:
Income- this is an increase in economic benefits during the reporting period, occurring in the form of an inflow or increase in assets, or a decrease in liabilities, which is expressed in an increase in capital not related to the contributions of participants in the share capital.
Expenses- this is a decrease in economic benefits during the reporting period, occurring in the form of an outflow or depletion of assets or an increase in liabilities, leading to a decrease in capital not related to its distribution among shareholders.
The definitions of income and expenses reveal their most important characteristics.
Income and expenses can be presented in the income statement in a variety of ways so as to provide the information needed to make economic decisions. For example, it is common practice to distinguish between items of income and expenses that arise in the course of the ordinary course of business of a company and those that are not associated with it. This distinction is made on the basis of the source of the line item, as it is relevant in assessing the company's ability to generate cash or cash equivalents in the future. For example, activities related to the implementation of a long-term investment are unlikely to be carried out regularly. In making this distinction between items, the nature of the company and its operations must be taken into account. Items arising from the ordinary activities of one company may be unusual for another company.
Distinguishing between items of income and expenses and combining them in different ways also allows you to present several options for measuring company performance. They differ in the degree of coverage. For example, the income statement may show gross profit, profit from ordinary activities before tax, profit from ordinary activities after tax, and net income.
Income
The definition of income includes both revenue and other income. Revenue arises in the normal course of business and is referred to in a wide variety of terms, including sales, fees, interest, dividends, royalties, and rents.
Other income represents other items that meet the definition of income and may or may not arise in the ordinary course of business. They represent increases in economic benefits and as such are inherently indistinguishable from revenue. Therefore, they are not considered as a separate element in this document.
Other income includes, for example, income arising from the sale of property, plant and equipment. The definition of income also includes unrealized income; for example, income arising from the revaluation of marketable securities or from an increase in the carrying amount of long-term assets. When such gains are recognized in the income statements, they are usually presented separately because information about them is useful for making economic decisions. Such income is often reflected in the statements without corresponding expenses.
Different types of assets can be obtained or augmented by income. Examples include cash, receivables, goods and services received in exchange for goods and services supplied. Income can arise from the settlement of obligations. For example, a company may supply goods or services to a lender to pay off an obligation to pay the remainder of the loan.
Expenses
The definition of expenses includes losses as well as expenses that arise in the ordinary course of business of the company. The latter include costs such as cost of sales, wages, and depreciation. They usually take the form of an outflow or depletion of assets, including cash or cash equivalents, inventories, property, plant and equipment.
Losses are other items that meet the definition of expenses and may or may not arise in the ordinary course of business. Losses represent decreases in economic benefits and are therefore not different in nature from other costs. Therefore, they are not considered as a separate item in this document.
Losses include, for example, losses resulting from natural disasters such as fire and floods, as well as from the sale of property, plant and equipment. The definition of expenses also includes unrealized losses, which include losses arising from an increase in the foreign exchange rate against corporate loans denominated in that currency. When losses are recognized in the income statement, they are usually shown separately because information about them is useful for making economic decisions. Losses are often reported net of related income.
Information content of financial statements
In the conditions of the formation of a market economy, the study of the financial statements of an economic entity has become an essential element of financial analysis. For many participants in market relations, financial statements are the main available source of economic information about the company.
The users of financial statements include current and potential investors, employees, lenders, suppliers and other trade lenders, buyers, governments and their bodies, and the public. They use financial reporting to meet their various information needs.
Investors venture capitalists and their advisors worry about the risk and return on investment. They need information to help them decide whether to buy, hold, or sell securities. Shareholders are also interested in information that allows them to assess the company's ability to pay dividends.
Workers and their representative groups are interested in information about the stability and profitability of their employers. They are also interested in information that allows them to assess the company's ability to secure wages, pensions and job opportunities.
Lenders they are interested in information that allows them to determine whether the loan and the interest due will be paid on time.
Suppliers and other commercial lenders are interested in information that enables them to determine whether a debt owed to them will be repaid on time. Merchant lenders are likely to be interested in companies for a shorter period of time than lenders, unless they depend on the company to continue as a primary buyer.
Buyers interested in information about the stability of the company, especially when they have a long-term relationship with it or depend on it.
Governments and their bodies interested in the allocation of resources and, thus, in the activities of companies. They also need information in order to regulate the activities of companies, determine tax policy, the size of national income, etc.
Businesses can have a variety of impacts on public... For example, companies can make a significant contribution to the local economy in a variety of ways, including through the number of jobs they provide and the custody of local suppliers. Financial reporting can help the public by providing information on trends and recent developments in a company's wealth and the range of its operations.
In conclusion, the following conclusion can be formulated:
Financial reporting provides users with complete information about the property and financial condition of the organization, about the state of its material and financial resources, about the results of its credit and investment policy, about costs and production efficiency, etc., which allows you to manage economic activities, monitor the implementation of planned plans and develop long-term development plans.
Analysis of the composition and movement of the organization's capital
The development of market relations in society has led to the emergence of a number of new economic objects of accounting and analysis. One of them is the capital of the enterprise as the most important economic category.
The main problem for each enterprise that needs to be determined is the sufficiency of monetary capital for carrying out financial activities, servicing money circulation, and creating conditions for economic growth.
In a market economy, the importance of financial resources increases sharply, with the help of which the formation of an optimal structure and an increase in the production potential of an enterprise, as well as financing of current economic activities, is carried out. The financial well-being of the enterprise and the results of its activities depend on what capital a business entity has, how optimal its structure is, how expediently it is transported to fixed and circulating assets.
In connection with the foregoing, it is of great importance to correct and comprehensive accounting of the enterprise's capital, which forms information about the individual components of capital and their dynamics. This information is necessary for internal and external users for the purposes of financial analysis, business and management decisions.
The main tasks of the analysis of enterprise capital:
1. Study of the initial conditions for the functioning of the enterprise.
2. Establishment of changes in the availability and structure of capital for the reporting period and assessment of the changes that have occurred.
3. Finding ways to increase capital, increase the level of its return and strengthen the financial stability of the enterprise.
The analysis of the composition and movement of capital in the organization is carried out on the basis of accounting data, such as the balance sheet, income statement, capital flow statement, cash flow statement.
Capital- funds at the disposal of the enterprise, necessary for the implementation of economic activities with the aim of making a profit.
In the company's balance sheet, accounts are divided into groups according to their economic content:
Active capital accounts;
Accounts for accounting sources of capital formation;
Capital flow process accounts.
In turn, the accounts for accounting for the active component of capital are subdivided into accounts reflecting:
Main capital;
Working capital;
Equity in settlements (cash and financial assets);
Diverted capital and intangible assets.
Accounts of business processes by economic content are divided into:
Production process accounts (costs, overheads);
Distribution process accounts (contributions to various funds and use of profits);
Accounts of circulation processes (wholesale and retail costs).
The capital of the enterprise is formed from its own and borrowed sources.
Own capital is a set of material assets and monetary funds, financial investments and costs of acquiring rights and privileges necessary for the implementation of its economic activities.
Equity is the net asset value, defined as the difference between the value of the assets (property) of the organization and its liabilities.
Equity capital can consist of authorized, additional and reserve capital, retained earnings (uncovered loss), and targeted financing. Equity is reflected in the first section of the balance sheet liability.
Of greatest interest is functioning(active) capital, which has the most direct impact on the economic, technical and financial condition of the enterprise.
The fixed capital, which is part of active capital, includes:
Fixed assets, representing the aggregate value of movable and immovable property for a long time being in this organization. In addition, fixed assets include leased fixed assets with the right of subsequent redemption or at the end of the lease, under the terms of the agreement, transferred into the ownership of the lessee.
Fixed assets create the material and technical base of the enterprise and provide the conditions for production and economic activity.
Intangible assets- These are the long-term costs of the organization for the acquisition of the right to use land plots, natural resources, intellectual property, copyrights, various licenses and other privileged rights. These include costs for brands, trademarks, "firm price" and other similar costs.
Intangible assets can be taken out by the founders on account of their contribution to the authorized capital, can be received free of charge or acquired in the course of the organization's activities.
Capital investments- these are the expenses of the organization in objects that will subsequently be taken into accounting as fixed assets, land plots and natural resources, intangible assets.
Financial investments- these are the costs of equity participation in the authorized capital of other organizations, for the purchase of shares and bonds on a long-term basis. In addition, these are long-term loans issued to other organizations against debt obligations.
The second component of functioning capital is negotiable capital, which includes:
Productive reserves- these are stocks intended for processing, processing or use in production or for economic needs, means of labor, which, in accordance with the established procedure, are included in the composition of funds in circulation, as well as operations related to their procurement (acquisition). Inventories are entirely consumed in each cycle and fully transfer their value to the value of the goods produced.
Cash- the amount of money in the cash desk, on settlement, current and other accounts in banks, money transfers, other cash intended to summarize information on the availability and movement of finished products (manufactured products) and goods.
Part of the value of the organization's property is formed at the expense of its own capital, the other part - at the expense of the organization's obligations to other organizations, individuals, its employees (borrowed funds).
Equity may consist of authorized, additional and reserve capital, retained earnings (uncovered loss), targeted financing.
Authorized capital is an association of contributions of the owners of the enterprise to its property in monetary terms in the amount determined by convincing documents in order to carry out economic activities.
The authorized capital refers to the most stable part of the company's equity capital. Its value, as a rule, does not undergo changes during the year at enterprises that have not changed their form of ownership.
Reserve capital includes that part of the company's equity capital, which is intended to cover unforeseen losses (losses), as well as to pay the income of investors when there is not enough profit for these purposes. In essence, it is an insurance fund formed in accordance with the legislation and the constituent documents of the enterprise.
Special-purpose financing- these are funds designed to summarize information on the movement of funds intended for the implementation of targeted activities, funds received from other organizations and individuals, budget funds.
Undestributed profits- part of the net profit not distributed among shareholders (founders), used to accumulate property of an economic entity. The current legislation gives enterprises (regardless of the variety of forms of ownership) the right to promptly maneuver the profits that come at their disposal based on the results of economic activities after the tax payments due to the budget are accrued.
Information on the presence and movement of the organization's equity capital in the reporting year is contained in statement of changes in equity(f. No. 3). The report's indicators are grouped into four sections:
- "Capital" (authorized (share) capital; additional and reserve capital, targeted financing and receipts,;
- "Reserves for future expenses" (total and including by type of reserves);
- "Estimated reserves" (total and including by types of estimated reserves);
- “Change in capital” (the amount of capital at the beginning of the reporting period, an increase in capital in total, including due to individual factors, a decrease in capital in total, including due to individual factors, the amount of capital at the end of the reporting period).
For reference purposes, data on the net assets of organizations (except for non-profit) and the amounts of financing received are provided.
Commitments organizations are short and long-term bank loans, accounts payable, loans and distribution obligations.
Short-term loans the organization receives for a period of up to 1 year for stocks of inventories, settlement documents on the way and other needs, and long-term - for a period of 1 year for the introduction of new technology, organization and expansion of production, mechanization of production and other purposes.
Under creditor understand indebtedness this organization to other organizations, which are called creditors. Creditors whose debt arose in connection with the purchase of tangible assets from them are called suppliers, and creditors to whom the enterprise owes non-commodity transactions are called other creditors.
Loans- these are loans received from other organizations against bills of exchange and other obligations, as well as funds from the issue and sale of shares and bonds of the organization.
Distribution commitments include debts to workers and employees on wages, and social insurance and tax authorities - on payments to the budget due to the fact that the moment the enterprise's debt arises does not coincide with the time of its payment. Distribution obligations by their economic content differ significantly from other borrowed funds, since they are formed by accrual, and do not come from outside.
Scorecard capital should be formed in three main directions:
1. Indicators of sources of capital formation.
2. Indicators of functioning capital.
3. Indicators of the results of the functioning of capital.
The most important indicators characterizing the sources of capital formation, first of all, include: the size, structure and cost of all sources of capital and its individual components.
Among the indicators capital source structures it is necessary to highlight the following.
1. The structure of individual sources of capital and their dynamics for the period, including:
The size of its own sources;
The size of long-term borrowed sources;
The size of short-term borrowed sources.
2. Cost, weighted average cost and cost structure of capital sources.
3. Aggregate indicator of the cost of capital sources.
The results of the production, financial activities of an enterprise depend not only on the availability of capital, but also on the efficiency of its use, therefore, the analysis of the efficiency and intensity of use of the organization's capital is an important element of financial analysis.
The following main indicators are used in the methodology for analyzing the efficiency of capital use:
The efficiency of capital use is characterized by its profitability- the ratio of the amount of profit to the average annual amount of fixed and working capital.
To characterize the intensity of capital use, it is calculated coefficient his turnover- the ratio of proceeds from the sale of products, works and services to the average annual cost of capital.
Return on equity characterizes the efficiency of using equity capital and is calculated by the ratio of the amount of net profit to the amount of equity capital.
Capital turnover indicators are closely related to the return on equity, including working capital turnover ratio - the ratio of sales proceeds to the average annual cost of working capital.
Ownership ratio (autonomy) calculated as the ratio of equity (equity) to the total value of the organization's property. Investors and lenders are interested in this indicator. The normal value of this indicator is 0.7.
Debt Concentration Ratio calculated as the ratio of borrowed funds to the total value of the property. This indicator characterizes the structure of the organization's funds in terms of the share of borrowed funds. This indicator should not be more than 0.3.
The ratio of the ratio of borrowed and own funds. It shows how much borrowed funds are in the ruble of own funds. The critical value of this indicator is taken as 0.7. If this figure is higher, then the financial stability of the enterprise is questioned.
Mobility ratio(the maneuverability of own funds) is calculated as the quotient of the ratio of own circulating assets (calculated value) to the total value of own funds. The rate of this coefficient is from 0.2 to 0.5. The upper limit of this indicator means that the organization has great opportunities for financial maneuvers.
Fixed-to-equity ratio is calculated by the ratio of fixed assets to own funds. This indicator characterizes the degree of provision of non-current assets with own funds. The approximate value of this coefficient is from 0.5 to 0.8. If the indicator is less than 0.5, then the organization has its own capital mainly for the formation of working capital, which, as a rule, is assessed negatively. With a value of the indicator above 0.8, it can be concluded that long-term loans and credits are attracted to form part of non-current assets.
The development of a system of indicators in itself is of great importance for the calculation, assessment and analysis of entrepreneurial capital. In addition, the system of indicators is objectively necessary for the development of a methodology for a comprehensive economic analysis of capital, which does not currently exist.
Meanwhile, only the development of a comprehensive methodology for the economic analysis of capital will make it possible to give a real assessment of the size, structure, dynamics of capital, to identify the reasons and factors influencing its changes.
In the method of capital analysis, a systematic approach should be applied, which consists in using a system of indicators, the circle of users of this information should be determined.
This technique can be used in the practical work of the economic services of enterprises of various forms of ownership carrying out entrepreneurial activities, managers, chief accountants, financial analysts, as well as in the management of small enterprises and private entrepreneurial capital.
According to the study of the financial analysis of capital, the following conclusions can be drawn:
1. Analysis of the composition and movement of capital is aimed at improving capital management of economic entities, through a detailed study of the process of formation and functioning of enterprise capital, a thorough, comprehensive analysis of all its constituent elements, their interconnection and interdependence.
2. The need to improve the analysis methodology lies in the fact that at present, the capital of the enterprise is clearly insufficiently studied as the foundation of the concept of creating and operating a business, and the main attention is paid to the operational management of the enterprise's financial flows.
Analysis of the financial situation of the enterprise
Analysis of the financial and economic condition of the company is based on the use of data contained in the balance sheet of the company and the income statement.
Balance sheet of SKIF LLC
|
ASSETS |
Line code |
At the beginning of the period |
At the end of the period |
|
1. Non-current assets |
|
|
|
|
Intangible assets |
|||
|
including: |
|
|
|
|
organizational expenses |
|
||
|
Fixed assets |
|||
|
including: |
|
|
|
|
buildings, machinery and equipment |
|||
|
Construction in progress |
|||
|
including: |
|
|
|
|
investments in subsidiaries |
|||
|
investments in associates |
|||
|
investments in other organizations |
|||
|
Other long-term financial investments |
|||
|
TOTAL for section 1 |
|||
|
2. Current assets |
|
|
|
|
including: |
|
|
|
|
raw materials, materials and other similar values |
|||
|
work in progress costs |
|||
|
Future expenses |
|||
|
other supplies and costs |
|
||
|
Value added tax on acquired assets |
|||
|
Accounts receivable (expected to be paid more than 12 months after the reporting date) |
|||
|
including: |
|
|
|
|
buyers and customers |
|||
|
other debtors |
|
||
|
Accounts receivable (expected to be paid within 12 months after the reporting date) |
|||
|
including: |
|
|
|
|
buyers and customers |
|||
|
advances issued |
|||
|
other debtors |
|||
|
including: |
|
|
|
|
other short-term financial investments |
|
||
|
Cash |
|||
|
including |
|
|
|
|
settlement accounts |
|||
|
foreign currency accounts |
|||
|
other cash |
|||
|
Other current assets |
|
|
|
|
TOTAL for section 2 |
|||
|
PASSIVE |
Line code |
At the beginning of the period |
At the end of the period |
|
3. Capital and reserves |
|
|
|
|
Authorized capital |
|||
|
Extra capital |
|||
|
Reserve capital |
|||
|
including: |
|
|
|
|
reserves formed in accordance with the legislation |
|||
|
reserves formed in accordance with the constituent documents |
|||
|
Retained earnings (uncovered loss) |
|
||
|
including: |
|
|
|
|
retained earnings of previous years |
|||
|
uncovered loss of previous years |
|||
|
retained earnings of the reporting year |
|
||
|
uncovered loss of the reporting year |
|
|
|
|
TOTAL for section 3 |
|||
|
|
|
|
|
|
Loans and credits |
|||
|
including: |
|
|
|
|
bank loans payable more than 12 months after the reporting date |
|
|
|
|
loans due more than 12 months after the reporting date |
|
|
|
|
|
|
||
|
TOTAL for section 4 |
|||
|
|
|
|
|
|
Loans and credits |
|||
|
including: |
|
|
|
|
bank loans payable within 12 months after the reporting date |
|||
|
loans due within 12 months after the reporting date |
|||
|
Accounts payable |
|||
|
including |
|
|
|
|
suppliers and contractors |
|||
|
bills payable |
|
|
|
|
debt to subsidiaries and affiliates |
|
|
|
|
debt to the organization's personnel |
|||
|
indebtedness to state extra-budgetary funds |
|||
|
arrears to the budget |
|||
|
advances received |
|||
|
other creditors |
|||
|
Debts to participants (founders) for the payment of income |
|
|
|
|
revenue of the future periods |
|
|
|
|
Provisions for future expenses |
|
|
|
|
|
|
||
|
TOTAL for section 5 |
|||
Profit and loss statement of LLC "SKIF"
|
Indicator name |
Line code |
For the period preceding the reporting |
During the reporting period |
|
1. Income and expenses from ordinary activities |
|
|
|
|
Revenue (net) from the sale of goods, products, works (net of value added tax) |
|||
|
including from the sale: |
|
|
|
|
sale of finished products |
|||
|
rendering of services to tenants |
|||
|
implementation of services of ancillary production |
|||
|
Cost of goods, products, works, services sold |
|||
|
including those sold: |
|
|
|
|
cost of finished products |
|||
|
cost of services to tenants |
|||
|
cost of auxiliary production services |
|||
|
Gross profit |
|||
|
Business expenses |
|||
|
Administrative expenses |
|
|
|
|
Profit (loss) from sales (lines 010-020-030-040) |
|||
|
2. Operating income and expenses |
|
|
|
|
Interest receivable |
|||
|
Percentage to be paid |
|||
|
Income from participation in other organizations |
|
|
|
|
Other operating income |
|
||
|
Other operating expenses |
|
|
|
|
3. Non-operating income and expenses |
|
|
|
|
Non-operating income |
|
||
|
Non-operating expenses |
|
||
|
Profit (loss) before tax (lines 050 + 060-070 + 080 + 090-100 + 120-130) |
|||
|
Income tax and other similar mandatory payments |
|||
|
Profit (loss) from ordinary activities |
|||
|
4. Extraordinary income and expenses |
|
|
|
|
Extraordinary income |
|
|
|
|
Extraordinary expenses |
|
|
|
|
Net profit (retained earnings (loss) of the reporting period) (lines 160 + 170-180) |
The analysis consists of three directions:
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.
Assessment of the property status consists of the following components:
Integrated balance sheet analysis - net;
Property dynamics assessments.
Analysis of the integrated consolidated balance sheet - net 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" balance sheet analysis, which allows you to more fully trace the dynamics of the balance sheet items. Many experts suggest conducting "vertical" and "horizontal" analysis separately. However, some of them recognize the advisability of such an integrated analysis of balance sheet items.
The growth rate of the indicator is the ratio of the value of the corresponding indicator at the end of the period to the value at the beginning of the period, expressed as a percentage.
The change for the period as a percentage of the total amount is calculated as follows: the ratio of the values of the indicators to the total amount (balance sheet currency, hereinafter referred to as the WB) in percentage is calculated and the difference between the obtained values is found. The resulting value shows how much the share of the item in the total value of the property of the enterprise has increased or decreased.
Analysis of the dynamics of assets, liabilities and capital of SKIF LLC
|
Indicators |
Line code |
At the beginning of the period |
At the end of the period |
Change over the period |
||
|
sum |
Growth rate |
Absolute value |
In% to the total amount |
|||
|
ASSETS |
|
|
|
|
|
|
|
1. Non-current assets |
|
|
|
|
|
|
|
Intangible assets |
||||||
|
Fixed assets |
||||||
|
Construction in progress |
||||||
|
Long-term financial investments |
||||||
|
Other noncurrent assets |
||||||
|
TOTAL for section 1 |
||||||
|
2. Current assets |
|
|
|
|
|
|
|
Short-term financial investments |
|
|||||
|
Cash |
||||||
|
Other current assets |
||||||
|
TOTAL for section 2 |
||||||
|
BALANCE (sum of lines 190 + 290) |
|
|||||
|
PASSIVE |
|
|
|
|
|
|
|
3. Capital and reserves |
|
|
|
|
|
|
|
Authorized capital |
||||||
|
Extra capital |
||||||
|
Reserve capital |
||||||
|
Retained earnings (uncovered loss) |
||||||
|
TOTAL for section 3 |
||||||
|
4. Long-term liabilities |
|
|
|
|
|
|
|
Loans and credits |
||||||
|
Other long-term liabilities |
||||||
|
TOTAL for section 4 |
||||||
|
5. Short-term liabilities |
|
|
|
|
|
|
|
Loans and credits |
||||||
|
Accounts payable |
||||||
|
Debts to participants (founders) for the payment of income |
||||||
|
revenue of the future periods |
||||||
|
Provisions for future expenses |
||||||
|
Other current liabilities |
||||||
|
TOTAL for section 5 |
||||||
|
BALANCE (sum of lines 490 + 590 + 690) |
|
The total value of the company's property has decreased, which is a negative trend. The decrease in property was due to a significant decrease in cash. Fixed assets, on the contrary, have increased, construction in progress has also increased, which will entail an even greater increase in fixed assets in future periods.
In general, a decrease in the share of circulating assets in the total value of property (by 1.07%) and an increase in the share of non-circulating assets (by 1.08%) indicate a decrease in the turnover of the enterprise's property, albeit insignificantly.
The share of the company's equity capital increased by 27.47% due to an increase in retained earnings.
Long-term loans and credits at the end of the period were reduced to zero and their share in the total amount of property decreased by 32.70% over the period. At the same time, short-term loans and credits increased (by RUB 31,583).
The largest share in the property of the enterprise belongs to accounts payable, although at the end of the period its share decreased by 6.49%.
Debt sources of capital formation exceed their own, which is an unfavorable factor in the financial stability of an enterprise, since it shows the enterprise's dependence on external investors.
Analysis of indicators of the structure of assets and sources of LLC "SKIF"
|
Indicators |
Line code |
At the beginning of the period |
At the end of the period |
||
|
Sum |
Sum |
||||
|
ASSETS |
|
|
|
|
|
|
1. Non-current assets |
|
|
|
|
|
|
Intangible assets |
|||||
|
Fixed assets |
|||||
|
Construction in progress |
|||||
|
Long-term financial investments |
|||||
|
Other noncurrent assets |
|||||
|
TOTAL for section 1 |
|||||
|
2. Current assets |
|
|
|
|
|
|
Value added tax on acquired assets |
|||||
|
Accounts receivable (expected to be paid more than 12 months after the reporting date) |
|||||
|
Accounts receivable (expected to be paid within 12 months after the reporting date) |
|||||
|
Short-term financial investments |
|||||
|
Cash |
|||||
|
Other current assets |
|||||
|
TOTAL for section 2 |
|||||
|
BALANCE (sum of lines 190 + 290) |
|||||
|
PASSIVE |
|
|
|
|
|
|
3. Capital and reserves |
|
|
|
|
|
|
Authorized capital |
|||||
|
Extra capital |
|||||
|
Reserve capital |
|||||
|
Retained earnings (uncovered loss) |
|||||
|
TOTAL for section 3 |
|||||
|
4. Long-term liabilities |
|
|
|
|
|
|
Loans and credits |
|||||
|
Other long-term liabilities |
|||||
|
TOTAL for section 4 |
|||||
|
5. Short-term liabilities |
|
|
|
|
|
|
Loans and credits |
|||||
|
Accounts payable |
|||||
|
TOTAL for section 5 |
|||||
|
BALANCE (sum of lines 490 + 590 + 690) |
The structure of assets and sources of their formation shows a significant excess of accounts payable over accounts receivable (55.8% and 14.33% at the end of the period, respectively), which is a sign of financial instability, despite the change in this ratio in favor of accounts receivable.
The share of short-term and long-term financial investments of the enterprise is small (0.03 and 0.69 at the end of the period, respectively).
The share of inventories in the total amount of current assets increased, while the share of cash decreased by 10%, which indicates a worsening financial situation.
In general terms, the signs of a firm financial position are:
1. The balance sheet currency at the end of the reporting period has increased in comparison with the beginning.
2. The growth rate of current assets is higher than the growth rate of non-current assets.
3. Equity capital of the organization exceeds the borrowed capital and its growth rate is higher than the growth rate of borrowed capital.
There are no such tendencies in SKIF LLC.
1. The balance sheet currency (property value) decreased by 3795 thousand rubles.
2. The share of current assets decreased by 1.08% (from 45.5 to 44.42) against the background of a corresponding increase in the share of non-current assets.
3. Equity capital amounted to only 31.16% at the end of the period, respectively, borrowed funds amounted to 68.84% at the end of the year. At the beginning of the year, this ratio was even lower (3.69% to 96.21%). A positive point here is the high rate of growth in equity capital.
Analysis of the structure and dynamics of assets, capital and liabilities of the enterprise allows us to make a preliminary conclusion about the instability of the financial position of the enterprise, for a deeper analysis it is necessary to assess the liquidity and financial stability of the enterprise.
Analysis of the liquidity of the enterprise is the calculation and analysis of the system of absolute and relative indicators.
The amount of the company's net assets is the current capital, that is, the assets of the company, cleared of liabilities. In fact, the net assets of the enterprise are equal to the total for section 3 of the balance sheet - capital and reserves.
Calculation of the amount of net assets of LLC "SKIF"
Calculation of absolute indicators of liquidity of LLC "SKIF"
|
ASSETS |
Calculation algorithm |
Value at the beginning of the period |
Value at the end of the period |
PASSIVE |
Calculation algorithm |
Value at the beginning of the period |
Value at the end of the period |
Payment surplus (deficiency) |
|
|
Value at the beginning of the period |
Value at the end of the period |
||||||||
|
Most liquid assets |
A1= p.250 + p.260 |
Most urgent obligations |
P1= p. 620 |
||||||
|
Quickly realizable assets |
A2= p.240 |
Short-term liabilities |
P2= p.610 + p.670 |
||||||
|
Slowly realizable assets |
A3= p.210 + p.220 + p.230 + p.270 |
Long-term liabilities |
P3= s.590 + s.630 + s.640 + s.650 + s. 660 |
||||||
|
Hard-to-sell assets |
A4= p. 190 |
Permanent liabilities |
P4= p. 490 |
||||||
|
|
|
|
|
The assets of the company are divided into groups depending on the degree of liquidity, i.e. the speed of transformation into cash, balance sheet liabilities are grouped according to the urgency of their payment.
A1. The most liquid assets - these include all items of the company's cash and short-term financial investments (securities). This group is calculated as follows:
A1 = line 250 + line 260
A2. Marketable assets are receivables expected to be paid within 12 months after the reporting date.
A2 = p. 240
A3. Slowly traded assets - items of section II of the balance sheet asset, including inventories, VAT, accounts receivable (payments for which are expected more than 12 months after the reporting date) and other current assets.
A3 = line 210 + line 220 + line 230 + line 270
A4. Hard-to-sell assets - items of section I of the balance sheet asset - non-current assets.
A4 = page 190.
P1. The most urgent liabilities - these include accounts payable.
P1 = p. 620
P2. Short-term liabilities are short-term borrowed funds and other short-term liabilities.
P2 = p. 610 + p. 670
P3. Long-term liabilities are balance sheet items related to V and VI sections, i.e. long-term loans and borrowed funds, as well as deferred income, consumption funds, reserves for future expenses and payments.
P3 = line 590 + line 630 + line 640 + line 650 + line 660
P4. Permanent liabilities or stable - these are articles IV of the section of the balance sheet "Capital and reserves".
A4 = page 490.
The ratio of these indicators at the end of the year is more optimal than at the beginning of the year. Since the following ratios are not met for this enterprise: A1 > P1; A2 > P2; A3 > P3; А4≤П4, we can say that the liquidity of the balance sheet of SKIF LLC is not absolute. Despite the compensation for the lack of funds in the first group of indicators with surplus in other groups in the value estimate, in a real situation less liquid assets cannot replace more liquid ones.
The performed analysis of liquidity is approximate. More detailed is the analysis of solvency using financial ratios.
Calculation of relative indicators of liquidity of LLC "SKIF"
Current liquidity ratio. Gives an overall assessment of the liquidity of assets, showing how many rubles of the current assets of the enterprise fall on one ruble of current liabilities. The company pays off short-term liabilities mainly at the expense of current assets; therefore, if current assets exceed current liabilities, the enterprise can be considered as successfully operating. The size of the excess is set by the current liquidity ratio. The value of the indicator should be at least 1 and no more than 2. For this enterprise, the value of the current liquidity ratio is less than the critical one. Having mobilized all working capital, the organization can pay off only 0.64 of current liabilities, and during the period the situation has worsened.
Quick ratio. By semantic purpose, the indicator is similar to the current liquidity ratio; however, it is calculated for a narrower range of current assets, when the least liquid part of them - production inventories - is excluded from the calculation. The cash that can be raised in the event of the forced sale of inventories may be significantly lower than the cost of acquiring them. The value of the coefficient 0.7-0.8 is considered normal. This enterprise in the near future can pay off only 0.41 of short-term debt at the expense of cash and receipts on account.
Absolute liquidity ratio (solvency). Is the most stringent criterion for the liquidity of an enterprise; shows what part of short-term debt obligations can be repaid, if necessary, immediately. The recommended lower limit of the indicator given in the Western literature is 0.2. In domestic practice, the actual average values of the considered liquidity ratios, as a rule, are significantly lower than the values mentioned in Western literary sources. This organization can pay off a very small part (0.21) of short-term debt at the expense of cash and securities.
The size of its own working capital. This indicator shows the volume of current assets, which is financed from own sources of financing and is the difference between current assets and current liabilities.
To calculate the absolute indicators of financial stability, it is necessary to determine the amount of stocks at the beginning and end of the period, respectively.
ЗЗ = p.210 + p.220
ЗЗ at the beginning of the period = 19666 + 520 = 20186
ЗЗ at the end of the period = 39135 + 1795 = 40930
The absolute indicators of the financial stability of the enterprise show the surplus or lack of funds to cover stocks. At this enterprise, all three indicators have a negative value, that is, they show a lack of even general sources of stock formation, which is a sign of the company's financial crisis.
Calculation of absolute indicators of financial stability of LLC "SKIF"
|
Indicators of the availability of sources of formation of stocks and costs |
Calculation algorithm |
Value at the beginning of the period |
Value at the end of the period |
Change over the period (column 4 - column 3) |
Indicators of supply of stocks and costs by sources of their formation |
Calculation algorithm |
Value at the beginning of the period |
Value at the end of the period |
Change over the period (column 9 - column 8) |
|
Own working capital |
SOS= P4 - A4 |
Surplus (+), lack (-) own working capital |
|
||||||
|
Own and long-term borrowed sources of formation of reserves |
FC= SOS + p.590 |
Surplus (+), lack (-) of own and long-term borrowed sources of formation of reserves |
|||||||
|
The total amount of "normal" sources of formation of reserves |
IN AND= FC + p.610 |
Surplus (+), shortage (-) of the total amount of "normal" sources of formation of reserves |
Calculation of the relative indicators of financial stability of LLC "SKIF"
|
Index |
Calculation algorithm |
Value at the beginning of the period |
Value at the end of the period |
|
Equity ratio Xos |
SOS / (A1 + A2 + A3) |
||
|
Ratio of stocks supply with own circulating assets (share of own circulating assets in the coverage of stocks) Xosm |
|||
|
Autonomy ratio Ka |
|||
|
Debt to equity ratio Kzs |
p.590 + p.690 / P4 |
||
|
Debt concentration ratio Kfz |
p.590 + p.690 / VB |
||
|
Long-term borrowing ratio Kz |
|||
|
Permanent asset index Kpa |
|||
|
Recovery rate (loss) of solvency Kvp |
(K1f + Pv (y) / T * (K1f - K1n)) / K1norm |
|
Equity ratio characterizes the availability of the organization's own circulating assets, which are necessary for its financial stability. At this enterprise, the indicator at the beginning and end of the year is negative, which means a lack of its own working capital. The positive point here is that at the end of the year the indicator increased, which in the current financial situation can be noted as a favorable trend.
Provision of inventories with own circulating assets - this is the quotient of dividing own circulating assets by the amount of material reserves, i.e. an indicator of the extent to which inventories are covered by their own circulating assets. The level of the indicator is assessed primarily depending on the state of inventories. If their value is significantly higher than the justified need, then own circulating assets can cover only part of the material reserves, i.e. the indicator will be less than one. On the contrary, if the enterprise does not have enough material reserves for the uninterrupted implementation of production activities, the indicator may be higher than one, but this will not be a sign of a good financial condition of the enterprise. In view of the minus value of the enterprise's SOS, the ratio of stocks with its own working capital also has a value with a “-” sign, which also indicates the instability of the company's financial position, although the indicator at the end of the period increased from - 6.80 to - 1.58.
Equity concentration ratio(autonomy, independence) characterizes the share of enterprise owners 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 creditors the company. The indicator in SKIF LLC was 0.31 at the end of the year, taking into account the growth dynamics of this indicator for the reporting period, a favorable trend can be noted.
Equity to borrowed funds ratio . This indicator gives the most general assessment of the financial stability of the enterprise and shows how much borrowed funds invested in the assets of the enterprise fall on 1 ruble of its own funds. The growth of the indicator in dynamics indicates an increase in the dependence of the enterprise on external investors and creditors, that is, a decrease in financial stability, and vice versa. This indicator at the enterprise is rapidly decreasing (from September 26 at the beginning of the period to 2.20 at the end), which also indicates the possibility of restoring financial stability.
Debt concentration ratio characterizes the share of borrowed funds in the total amount of funds advanced in the activities of the enterprise. The lower the value of this ratio, the more financially stable, stable and independent of external loans the company. The recommended value for this indicator is 0.4. At our enterprise, the coefficient at the beginning of the year had a critical value of 0.96, but the tendency for the coefficient to decrease to 0.68 by the end of the reporting period is regarded as positive.
Long-term borrowing ratio. Its significance lies not only in the fact that it increases the coefficient of maneuverability of its own funds. In addition, he assesses how intensively the company uses borrowed funds to renovate and expand production. At the enterprise, the dynamics of a decrease in this indicator is traced, which by the end of the period shows the absence of long-term borrowed funds, which is a negative indicator.
Permanent asset index- the ratio of fixed assets and non-current assets to own funds, or the share of fixed assets and non-current assets in the sources of own funds. Own sources cover either fixed assets or circulating assets of the enterprise, therefore, the amount of fixed assets and non-current assets and own circulating assets in the absence of long-term borrowed funds in the composition of sources is equal to the amount of own funds. This indicator shows that the non-current assets of the enterprise are not covered by their own sources, although at the end of the period this indicator decreased and amounted to 1.78.
Recovery rate (loss) of solvency characterizes the presence of a real opportunity for an enterprise to restore (or lose) its solvency within a certain period. The coefficient taking a value greater than 1 indicates the existence of a real opportunity for the enterprise to restore its solvency. If the value of the coefficient is less than 1, we can say that the enterprise has no real opportunity to restore its solvency in the near future.
Calculated by the formula:
Кз = (К1ф + Пв (у) / Т * (К1ф - К1н)) / К1norm
К1ф - the actual value (at the end of the reporting period) of the current liquidity ratio.
Пв (у) - the established period of restoration (loss) of the company's solvency in months (Пв (у) = 6).
T - reporting period in months (T = 12).
К1н - the value of the current liquidity ratio at the beginning of the reporting period.
K1norm - the standard value of the current liquidity ratio (K1norm = 2).
The value of this coefficient in LLC "SKIF" is 0.30, so in the near future the enterprise will not restore its solvency, despite the favorable trend of improving other indicators of the financial stability of this enterprise.
Profitability analysis is the most important part of the general analysis of the financial and economic activities of the enterprise and allows you to answer the question of how profitably the company operates and how effectively it uses the invested capital. An analysis of the profitability of an enterprise can be carried out by calculating indicators of the efficiency of economic activity.
Calculation of indicators of the efficiency of economic activity of LLC "SKIF"
|
Index |
Calculation algorithm |
During the reporting period |
|
|
Profit (loss) from sales PP |
|||
|
Net income (loss) Pch |
|||
|
Return on sales ratio Rp |
|||
|
Overall profitability ratio Ro |
|||
|
Return on equity ratio Rsk |
|
||
|
Production profitability ratio Rpr |
PC / OPF + MOA |
|
|
|
Return on net assets ratio Rcha |
|
Product profitability shows how much profit falls on a unit of products sold. The growth of this indicator is a consequence of an increase in prices with constant costs for the production of sold products (works, services) or a decrease in production costs at constant prices, that is, a decrease in demand for the company's products, as well as a faster rise in prices than costs. This indicator should be more than 0.15.
Product profitability includes the following indicators:
1. Overall profitability, equal to the ratio of balance sheet profit to proceeds from product sales (excluding VAT).
Balance sheet profit = profit from sales from ordinary activities + operating income + non-operating income - non-operating expenses.
At this enterprise, the total profitability indicator exceeds the standard and is growing in dynamics (from 0.21 for the period preceding the reporting period to 0.25 for the reporting period).
2. Return on sales, defined as the ratio of sales profit to sales proceeds of finished goods (excluding VAT). The return on sales ratio in the reporting period decreased in comparison with the previous period by 0.05.
Return on equity determines how much net profit falls on the ruble of the company's equity capital. The normative assessment of this indicator is> 0.12. At the enterprise, the indicator for the reporting period is more than 1.
Production profitability- the ratio of net profit to the amount of fixed assets and the material part of the working capital of the enterprise.
The main production assets of the enterprise are equal to the amount of the fixed assets of the balance sheet. Tangible current assets - inventories and VAT. At the enterprise, the return on production assets is 29%.
Return on net assets in fact the same as the return on equity, since net assets represent the equity of the enterprise, cleared of liabilities. The return on net assets shows the rationality of capital structure management, the organization's ability to build up capital through the return of each ruble invested by the owners. The owners of the company are primarily interested in increasing the return on net assets, since the net profit per unit of owners' contributions shows the overall profitability of the business. At OOO SKIF, the profitability of net capital is quite high (1.01.)
The last three indicators are calculated for the reporting period due to the lack of data for the calculation for the previous period.
In general, the indicators of the results of economic activity of the analyzed enterprise are positive and mean the profitability of the enterprise.
For the behavior of the analysis of the business activity of the enterprise, it is necessary to calculate the average values for the reporting period of such indicators as working capital, inventory, accounts receivable and payable.
Information for the analysis of business activity of LLC "SKIF"
The business activity of the organization is characterized by the following indicators:
Turnover of working capital shows how many turns during the reporting year makes working capital in the process of production and sales and procurement activities. It characterizes the efficiency of using current assets. This indicator increased by 0.06 turnover in relation to the previous period, respectively, the number of days required for the turnover of working capital decreased, which is a positive trend.
Inventory turnover shows how many revolutions during the reporting year, stocks make in the process of production and sales of products. The larger this indicator, the better for the enterprise, since it indicates the efficiency of the use of working capital. In the investigated enterprise the inventory turnover is high - in the reporting year this indicator was 6.05 turnover and, accordingly, 59.50 days. At the same time, the dynamics of the indicator shows a decrease in turnover and an increase in the turnover period (by 2.05 turnover and 15.06 days, respectively, compared to the previous period).
Accounts payable turnover shows the expansion or decline of a commercial loan provided to an organization. An increase in the turnover ratio of accounts payable means an increase in the rate of payment of the company's debt, and a decrease means an increase in purchases on credit. At our enterprise, this indicator decreased by 0.04 vol. in relation to the previous period.
Accounts receivable turnover shows the dynamics of a commercial loan provided by an enterprise. As well as accounts payable, the debt to the enterprise turns around more slowly than in the previous period (8.17 and 7.15, respectively).
The turnover of accounts receivable at the enterprise is higher than the turnover of accounts payable, which is a positive factor, since the accounts payable of the enterprise significantly exceeds the accounts receivable.
The general trend in the dynamics of the firm's business activity is a decline.
Calculation of indicators of business activity of LLC "SKIF"
|
Index |
Calculation algorithm |
The values |
|
|
For the period preceding the reporting |
During the reporting period |
||
|
Turnover of working capital Cob |
|||
|
Turnover period of current assets Dob |
|||
|
Inventory and cost turnover Kz |
|||
|
Inventory and cost turnover period Dz |
|||
|
Accounts payable turnover Kkz |
|||
|
Accounts receivable turnover Kdz |
Analysis of income and expenses of LLC "SKIF" shows the structure of the general indicators of the economic activity of the enterprise.
Analysis data show an increase in the company's income due to an increase in proceeds from the sale of finished products.
At the same time, the costs of the company increased due to the increase in production costs and sales costs.
At the same time, the rate of increase in the company's expenses exceeds the rate of increase in income (102.26 and 101.15, respectively).
Analysis of the structure and dynamics of income and expenses of SKIF LLC
|
Indicators |
For the period preceding the reporting |
During the reporting period |
In relation to the previous period |
|||||
|
sum |
sum |
Growth rate |
The absolute sum of the change in the amount of income / expenses |
In% to the total amount of change |
Change in the share of certain types of income / expenses |
|||
|
|
|
|
|
|
|
|
|
|
|
Income from ordinary activities (proceeds from the sale of products, goods, works, services), including: |
||||||||
|
Revenue from the sale of finished products |
||||||||
|
Other operating income |
||||||||
|
Other non-operating income |
||||||||
|
Total income |
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
Cost of sales, incl. |
||||||||
|
Cost of finished products |
||||||||
|
Business expenses |
||||||||
|
Administrative expenses |
||||||||
|
Miscellaneous operating expenses |
||||||||
|
Other non-operating expenses |
||||||||
|
Total expenses |
|
The analysis of the financial condition of the company "SKIF" LLC allows us to formulate the following conclusions:
1. The structure of the balance sheet is unsatisfactory, since the main three signs of a satisfactory structure are not met: an increase in the balance sheet currency for the period, an excess of the growth rate of current assets over the growth rate of non-current assets, an excess of the amount and rate of growth of equity capital over the corresponding indicators of the company's borrowed funds.
2. The balance sheet of the enterprise does not have absolute liquidity, since the following ratios are not met: A1 > P1; A2 > P2; A3 > P3; A4≤P4.
3. The relative liquidity of the enterprise is low, since the relative indicators of liquidity are lower than the standard (recommended) values.
4. The absolute indicators of the financial stability of the enterprise have a negative value, which shows the crisis financial condition of the enterprise.
5. Relative indicators of financial stability confirm the unstable financial position of the company, although some indicators show a positive trend.
6. In the near future, the company is not able to restore its solvency.
7. Indicators of efficiency of economic activity have normal values, which indicates the profitability of the enterprise.
8. Indicators of business activity of the enterprise in dynamics in relation to the previous period have a downward trend, although in the reporting period are still quite high.
9. Incomes of the enterprise exceed expenses, which indicates the profitability of the operation of the enterprise, although at the same time the rate of increase in expenses of the enterprise exceeds the rate of increase in income, which raises the risk of a decrease in profitability and the presence of losses in future periods.
In accordance with the formulated conclusions and the results of the analysis, the following recommendations can be made:
1. To prevent crisis situations at the enterprise, it is necessary to carefully and timely diagnose the financial condition, to investigate the internal and external factors of influence on the position of the enterprise.
2. To restore solvency, it is necessary to reduce accounts payable, or to ensure the growth of the company's working capital. The real way out of the crisis situation is to build up current assets, which can be achieved by improving the results of economic activities. Reducing accounts payable can be achieved by increasing long-term loans.
3. It is necessary to increase the company's equity capital, which can be achieved by increasing the authorized capital.
4. To prevent overdue accounts receivable and, accordingly, increase its turnover, it is necessary to develop a system of measures and techniques, such as conditions for granting a loan, discounts in case of immediate payment, a thorough check of potential debtors for solvency and reliability.
5. Rational use of free funds, their placement in investments for profit is also a real opportunity to increase assets.
4. The strategic measure for overcoming the crisis should be to improve the marketing of the company.
Thus, the enterprise has the opportunity to get out of the financial crisis, it is important to determine what funds are acceptable at a given time in the current conditions.
Literature
1. Balabanov I.T. Financial analysis and planning of an economic object. - M .: "Finance and Statistics", 2001. - 218 p.
2. Grachev A.V. Analysis and management of the financial stability of the enterprise. - M .: "DIS", 2002. - 208 p.
3. Kovalev V.V. The financial analysis. Capital Management. Selection of Investments. Analysis of the Reporting. 3rd ed .; revised and add. - M. Finance and Statistics, 2000. - 582 p.
4. Lyubushin NA, Leshcheva VB, Dyakova VG Analysis of financial and economic activities of the enterprise. - M .: UNITY-DANA, 1999.
5. Pogostinskaya N.N., Pogostinskiy Yu.A. System analysis of financial statements. –S.-P .: Ed. Mikhailova V.A., 1999
6. Accounting reform. Federal Law "On Accounting". Eleven provisions on accounting. - 3rd ed., Rev. and add. - M .: Publishing house "Os-89", 1999 - 352 p.
7. Savitskaya G.V. Analysis of the economic activity of the enterprise: 4th ed. - Minsk: LLC "New knowledge", 2000. - 688 p.
8. Stoyanova E.S. Financial management: theory and practice. –M .: Perspective, 2001, 656 p.
9. Sheremet A.D., Sayfulin RS, Nechaev E.V., Methodology of financial analysis. A practical guide. - "Infra-M", 2001 - 208 p.
Savitskaya G.V. Analysis of the economic activity of the enterprise, p. 305
V.V. Kovalev The financial analysis. Capital Management. Selection of Investments. Reporting Analysis, p.113.
The informational data of the accounting (financial) statements show its significant analytical capabilities that can be effectively used in the management of the organization's capital, its assets and liabilities, income and expenses, and financial results.
The ratio of two different in economic content, but logically compatible quantitative indicators of financial statements creates an opportunity to form qualitative indicators of financial analysis, which is basically a ratio, i.e. two-factor model like f =.
The coefficients are widely used in financial analysis in domestic and foreign practice. Let's name some of them: 2
The ratio of mobile (OA) and immobilized
funds (VA) -
Accounts receivable turnover ratio -
The ratio of debt and equity capital (financial leverage) -;
Return on assets ratio -, in the numerator of the ratio there can be both profit from ordinary activities and net profit;
Current liquidity ratio -
(Where N - sales proceeds, Р - profit (financial result))
The indicators of the financial activity of the organization during the year are influenced by various factors: extensive and intensive; direct and indirect; elementary and complex; objective and subjective; essential and immaterial; production and non-production nature; explicit and hidden; economic, social and natural-technical impact on the financial sustainability of the organization.
Thus, it is possible to formulate the role of financial reporting in financial analysis: different groups of users of this reporting achieve one common task - to analyze the financial condition of the enterprise and, on its basis, achieve the set goals:
Managers gain insight into where their business is located in
the system of similar enterprises, the correctness of the chosen strategic course, comparative characteristics of the efficiency of resource use and decision-making on a wide variety of issues on enterprise management;
- auditors are prompted to choose the right solution in the process
auditing, planning your audit, identifying weaknesses in the accounting system and areas of possible intentional and unintentional errors in the client's external reporting;
Analysts determine the direction of financial analysis
Conclusion
Financial statements completes the accounting process and consists of totals, which are obtained at the end of the reporting period by counting and special processing (generalization, detailing, grouping, etc.) of current accounting data. The reporting contains generalized data of current accounting, presented in it in the system of indicators established by the Ministry of Finance of the Russian Federation.
The importance of reporting is determined by the purposes for which the information contained in it is used, and consists primarily in the fact that it is an important source of information about the results of the organization's activities and serves as a means and instrument of control and management of the organization's activities. For these purposes, it is used by the leadership of the organization itself to make the necessary management decisions, by state and local authorities and other interested users.
The significance of reporting lies in the fact that it acts as the main source of information for the analysis of the economic activity of the organization, its base. With the help of reporting, the activities of the organization for the past period are analyzed, the degree of fulfillment of planned indicators is determined, the reasons and factors of deviations, the positive and negative aspects of the work for the reporting period are identified, the dynamics of changes in indicators is established and its assessment is given, and measures are developed to improve the organization's activities. Thus, reporting contributes to the identification through analysis and the use of internal reserves available in the organization. 3
Application
1) Conduct a horizontal analysis of the financial results of the enterprise according to the following data and conclude:
|
Indicators |
Last year, thousand roubles. |
Reporting year, thousand roubles. |
deviation from last year (+, -) |
|
|
Proceeds from the sale of goods, works, services (net of VAT and excise taxes) |
||||
|
Cost of goods, works, services sold |
||||
|
Gross profit |
||||
|
Business expenses |
||||
|
Administrative expenses |
||||
|
Sales profit |
||||
1 Absolute deviation of proceeds from sales of goods, works, services = 42310-25027 = 17283;
Absolute deviation of the cost of goods, works, services sold = 34840-19573 = 15263;
Absolute deviation of gross profit = 7470-5454 = 2016;
Absolute Variation in Selling Costs = 2102-1215 = 887;
Absolute deviation of administrative expenses = 4856-3709 = 1147;
Absolute deviation of profit from sales = 512-530 = -18;
2) Relative deviation of proceeds from sales of goods, works, services = 17283/25027 * 100% = 69.06%;
Relative deviation of the cost of goods, works, services sold = 15263/19573 * 100% = 77.98%;
Relative deviation of gross profit = 2016/5454 * 100% = 36.96%;
The relative variance in selling expenses = 887/1215 * 100% = 73%;
Relative deviation of administrative expenses = 1147/3709 * 100% =
The relative deviation of profit from sales = -18 / 530 * 100% = - 3.56%.
Conclusion: Revenue from the sale of goods in the reporting year increased by 17,283 thousand rubles compared to last year. or by 69.1%. But this development is not enough due to the excess of the cost price growth over the revenue growth, it increased by 78% or more by 8.9% of the revenue, which cannot cover the expected amount of selling and administrative expenses. And their total amount of absolute deviations was 2034 thousand rubles. and therefore the deviation of these factors had a negative impact on the decrease in the amount of profit compared to last year by 18 thousand rubles. or 3.4%.
2. Conduct a vertical analysis of the personnel working at the enterprise by categories of workers and draw conclusions:
|
Number for the last year |
The number for reporting year |
Structural changes |
|||
|
in% to the total |
in% to the total |
||||
|
Total staff |
|||||
|
including By main activity |
|||||
|
employees |
|||||
|
leaders |
|||||
|
specialists |
|||||
|
By not the main type of activity |
|||||
1) The share of workers in the total number of all personnel = Number of workers / Number of all personnel * 100%
The share of personnel in the main type of activity:
for the last year - 188/208 * 100% = 90.38%;
for the reporting year - 178/196 * 100% = 90.82%.
Share of workers:
for the last year - 177/208 * 100% = 85.10%;
for the reporting year - 168/196 * 100% = 85.71%.
Share of employees
for the last year - 11/208 * 100% = 5.29%;
for the reporting year - 10/196 * 100% = 5.10%.
Share of managers:
for the last year - 1/208 * 100% = 0.48%;
for the reporting year - 1/196 * 100% = 0.51%.
The share of specialists:
for the last year - 10/208 * 100% = 4.81%;
for the reporting year - 9/196 * 100% = 4.59%.
The share of personnel in non-core activities:
for the last year - 20/208 * 100% = 9.62%;
for the reporting year - 18/196 * 100% = 9.18%.
2) Changes in structure are calculated as the difference between the proportion of workers in the reporting year and the proportion of workers in the last year.
Change in the structure of personnel for the main type of activity = 90.82% -90.38% = 0.44%;
Change in the structure of workers = 85.71% -85.10% = 0.61%;
Change in the structure of employees = 5.10% -5.29% = -0.19%;
Change in the structure of managers = 0.51% -0.48% = 0.03%;
Change in the structure of specialists = 4.59% -4.81% = -0.22%;
Change in the structure of personnel for non-core activities = 9.08% -9.62% = -0.44%.
During the reporting year, the structure of the organization's personnel has not changed significantly. The share of personnel in the main type of activity increased by 0.44%; the share of personnel in the non-main type of activity decreased by the same amount. The greatest growth in terms of structure is observed in the category "workers", and the largest decrease in the category "employees".
Search
We can notify you about new articles,