Analysis and diagnostics of the economic activity of the enterprise. Analysis and diagnostics of the financial and economic activities of the enterprise section. In the development of this direction, an analysis of various financial liquidity ratios and capital structure is carried out.

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FEDERAL EDUCATION AGENCY

GOU VPO "KEMEROVSKIY TECHNOLOGICAL INSTITUTE

FOOD INDUSTRY"

Department of Economics and Management

COURSE WORK

by discipline:

« Analysis and diagnostics of the financial and economic activities of the enterprise »

Performed):

student gr. EHR - 061

Velegzhanina N.V.

Kemerovo 2013

Introduction

1. Organizational and economic characteristics of the enterprise OJSC "Yurgakhleb" and theoretical provisions of financial and economic analysis

1.1 Organizational and economic characteristics of the enterprise OJSC "Yurgakhleb"

1.2 Characteristics of the concept of financial condition, goals and objectives of its analysis

1.3 Indicators of business analysis

1.4 Financial analysis

1.5 Assessment of the profitability of the enterprise and the efficiency of using its economic potential

2. Analysis of production and economic activities and financial condition of the enterprise of JSC "Yurgakhleb" for 2012

2.1 Analysis of production and sales of products

2.1.1 Analysis of the dynamics of production and sales of products

2.1.2 Analysis of the level of development of production capacity

2.1.3 Analysis of the range and structure of products

2.1.4 Assessment of the rhythm of production

2.2 Analysis of the use of fixed assets

2.2.1 Analysis of the composition and structure of fixed assets

2.2.2 Analysis of the movement of fixed assets

2.2.3 Analysis of the technical condition of fixed assets

2.2.4 Analysis of the effectiveness of the use of fixed assets

2.3 Analysis of the use of labor and wages

2.3.1 Assessment of personnel structure and dynamics

2.3.2 Motion Analysis labor resources

2.3.3 Analysis of the effectiveness of the use of labor resources

2.3.4 Analysis of the dynamics of wages

2.4 Analysis of production costs

2.4.1 Analysis of the dynamics of costs per 1 rub. marketable products

2.4.2 Cost structure by economic element

2.4.3 Factorial Cost Analysis

2.5 Table 2.5 - Factor analysis of costs

2.6 Analysis of profit and profitability

2.6.1 Analysis of profit indicators

2.6.2 Factor analysis of profit from sales

2.6.3 Analysis of results from other and non-operating transactions

2.7 Analysis of the financial condition of the company

2.7.1 Assessment of the composition and structure of property

2.7.2 Analysis of the composition and structure of sources of property formation

2.7.3 Analysis financial sustainability

2.7.4 Analysis of liquidity indicators of the enterprise

Conclusion

List of used literature

Application

Balance sheet

Report about incomes and material losses

Introduction

In modern economic conditions, the activity of each economic entity is the subject of attention of a wide range of market participants interested in the results of its functioning.

In order to ensure survival, it is necessary to be able to realistically assess the financial condition of both your enterprise and existing potential competitors. Financial condition is the most important characteristic economic activity enterprises. It determines the competitiveness, potential in business cooperation, assesses the extent to which the economic interests of the enterprise itself and its partners in financial and production terms are guaranteed.

The purpose of the analysis of the financial condition is to give the management of the enterprise a picture of its actual state, and to persons who do not directly work for this enterprise, but are interested in its financial condition, - the information necessary for an impartial judgment, for example, about the rationality of using additional investments made in the enterprise, and so on. like that.

The analysis of economic activity, assessment of its effectiveness is an important element in the management system.

Management decisions and actions today must be based on accurate calculations, deep and comprehensive economic analysis. They must be scientifically grounded, motivated, optimal. Not a single organizational, technical and technological measure should be carried out until its economic feasibility is justified. Underestimation of the role of analysis of the effectiveness of economic activity and its assessment, errors in plans and management actions in modern conditions bring sensitive losses.

The main goal of this work is to show how, on the basis of calculations of economic indicators, to investigate the financial and economic condition of an economic entity and, using an illustrative example (JSC "Yurgakhleb"), to analyze the activities of the company.

The work consists of an introduction, two main sections, a conclusion, a bibliography and annexes.

When writing the work, they were used as teaching aids and publications of domestic and foreign authors on the disciplines "Financial Management" E. Stoyanova considers the basic principles operational analysis... In the book of T.P. Karpova. "Management accounting" describes the features of cost accounting in the Direct Costing system. Raitsky K.A. in his publication "Enterprise Economics" shows cost management as a multi-stage process. Bykov S.V. in the article "Operational financial management" demonstrates various methods of optimizing the range of products of the enterprise.

In this course work, an attempt is made to systematize and comprehensively present the studied material on the topic under consideration.

1 Organizational and economic characteristics of the enterprise OJSC "Yurgakhleb" and theoretical provisions of financial and economic analysis

1.1 Organizational and economic characteristics of the enterprise OJSC "Yurgakhleb"

The enterprise OJSC "Yurgakhleb" was founded on March 29, 2000. From the very first days of the existence of the enterprise, the task of management was to create a truly strong, efficient and competitive structure aimed at long-term development.

The head office of the Company is located in Novokuznetsk, where the most important strategic decisions regarding the further development of the business are made, and the center of financial flows is also located here.

The production facilities of the enterprise, equipped with the most modern equipment, are concentrated in the Novosibirsk and Kemerovo regions. Their smooth operation is based on advanced technologies and invaluable experience of highly qualified personnel.

For 15 years, OJSC "Yurgakhleb" has turned into an enterprise with a developed production cycle, a system of shipment and delivery of marketable products to the consumer.

Its main activity is the production and sale of office furniture. The current state of JSC "Yurgakhleb" for 2011-2012 presented in Appendix

So, the current state is represented by the structure of the asset, liability, property, its sources, the structure of reserves and costs, as well as the dynamics of the level of profit for 2011 and 2012.

The Company annually increases its production output by 10-20%. Significantly outstripping the average rate of economic development of enterprises in Russia.

Throughout its existence, the company has produced various types of goods that require new ways of developing logistics and sales.

The products manufactured by the company are supplied to the countries of Western, Eastern Europe and the CIS by rail, sea through the ports of the Russian Federation, the Baltic States, Finland, as well as through a gas pipeline. The products are sold by the partners of the company. Thanks to the clear and well-coordinated work of the commercial and transport service, operators and production workers, the best results are achieved.

The achievements of the Company are highly appreciated by professionals both in our country and abroad.

The production successes achieved by JSC Yurgakhleb in recent years are largely the result of the use of the most advanced technologies. The company cooperates with leading research institutes and uses modern Western experience.

Today 738 people work at Yurgakhleb OJSC. Their knowledge, skill, professionalism and dedication have helped the company to take a leading position in its field.

The company is managed by a team of professional managers who skillfully use progressive management methods and new approaches to development in new market conditions.

People of various specialties work at Yurgakhleb OJSC: engineers, accountants, economists, mechanics, rolling stock repairmen, machinists, research laboratory assistants, operators of technological installations, doctors ... Their energy and daily conscientious work are the basis for stable growth and prosperity of the enterprise ...

The financial and economic service plays an important role in ensuring the life of the company. Analysis, planning and forecasting, cash flow management, development investment projects, calculation of the rate of return - these are the tasks that have to be solved in order to choose the right course and specific prices, the economics of contracts, criteria for evaluating a firm and the success of areas of work. At the same time, it is necessary to fit into the rigid coordinates of norms and restrictions - corporate and state.

Organization and maintenance of accounting and tax accounting is the function of the accounting department and the head of the methodology and tax planning department. These services are responsible for submitting tax, financial and statistical reports to regulatory authorities, their actions are focused on how to calculate taxes correctly within the framework of the current tax accounting system.

The experience of lawyers in ensuring legitimacy in the activities of the Company is invaluable. Legal department employees provide legal protection of the organization's interests; conduct contractual, claim and claim work.

The experience of the managerial staff, professionalism and energy of all employees make the company one of the most progressive companies on the Russian market.

OJSC "Yurgakhleb" consistently implements projects that ensure its sustainable long-term growth. The main task is to create a modern industrial company that meets the requirements of the time.

The main indicators of the enterprise are presented in Appendix 1.

1.2 Characteristics of the concept of financial condition, goals and objectives of its analysis

An enterprise is an independent economic entity created to conduct economic activities, which are carried out in order to generate profits and meet social needs.

The financial condition of an enterprise is understood as the ability of an enterprise to finance its activities. It is characterized by the provision of financial resources necessary for the normal functioning of the enterprise, the expediency of their placement and efficiency of use, financial relationships with other legal entities and individuals, solvency and financial stability.

The financial condition of the enterprise can be stable, unstable and crisis. The ability of an enterprise to make payments in a timely manner, to finance its activities on an expanded basis indicates its good financial condition. The financial condition of an enterprise depends on the results of its production, commercial and financial activities. If production and financial plans are successfully fulfilled, then this has a positive effect on the financial condition of the enterprise, and, conversely, as a result of non-fulfillment of the plan for the production and sale of products, its cost increases, revenue and the amount of profit decrease, therefore, the financial condition of the enterprise and its solvency deteriorate ...

A stable financial position, in turn, has a positive effect on the implementation of production plans and the provision of production needs with the necessary resources. therefore financial activities as an integral part of economic activity, it is aimed at ensuring the planned receipt and expenditure of monetary resources, the implementation of calculation discipline, the achievement of rational proportions of equity and debt capital and its most efficient use. The main goal of financial activity is to decide where, when and how to use financial resources for effective development of production and maximum profit.

In order to survive in a market economy and prevent bankruptcy of an enterprise, you need to know well how to manage finances, what should be the capital structure in terms of composition and sources of education, what share should be taken by own and borrowed funds. You should also know such concepts of a market economy as business activity, liquidity, solvency, creditworthiness of an enterprise, profitability threshold, financial stability margin (safety zone), degree of risk, effect financial leverage and others, as well as the methodology for their analysis.

Therefore, financial analysis is an essential element of financial management and audit. Almost all users of financial statements of enterprises use financial analysis methods to make decisions to optimize their interests.

The owners analyze the financial statements to improve the return on equity, to ensure the stability of the firm's rise. Lenders and investors analyze financial statements to minimize their risks on loans and deposits. We can firmly say that the quality of the decisions made depends entirely on the quality of the analytical substantiation of the decision.

The purpose of the analysis is not only to establish and assess the financial condition of the enterprise, but also to constantly carry out work aimed at improving it. Analysis of the financial condition of the enterprise shows in what directions this work should be carried out, makes it possible to identify the most important aspects and the weakest positions in the financial condition of the enterprise. In accordance with this, the results of the analysis give an answer to the question of what are the most important ways to improve the financial condition of an enterprise in a specific period of its activity. But the main purpose of the analysis is to timely identify and eliminate shortcomings in financial activities and find reserves for improving the financial condition of the enterprise and its solvency. To assess the stability of the financial condition of an enterprise, a whole system of indicators is used that characterizes changes:

the structure of the capital of the enterprise for its placement to the sources of education;

the effectiveness and intensity of its use;

the solvency and creditworthiness of the enterprise;

stock of its financial stability.

The indicators should be such that all those who are connected with the enterprise by economic relations can answer the question of how reliable the enterprise is as a partner and, therefore, make a decision about the economic profitability of continuing relations with it. The analysis of the financial condition of the enterprise is based mainly on relative indicators, since it is almost impossible to bring the absolute indicators of the balance sheet into a comparable form in conditions of inflation. Relative performance can be compared with:

generally accepted “norms” for assessing the degree of risk and predicting the possibility of bankruptcy;

similar data from other enterprises, which allows you to identify the strengths and weaknesses of the enterprise and its capabilities;

similar data for previous years to study the trend of improvement or deterioration in the financial condition of the enterprise.

The main tasks of the analysis:

timely identification and elimination of shortcomings in financial activities, and the search for reserves to improve the financial condition of the enterprise, its solvency;

forecasting possible financial results, economic profitability, based on the real conditions of economic activity and the availability of own and borrowed resources, the development of models of financial condition with a variety of options for using resources;

development of specific measures aimed at more efficient use of financial resources and strengthening the financial condition of the enterprise.

The analysis of the financial condition of the enterprise is carried out not only by the managers and relevant services of the enterprise, but also by its founders, investors in order to study the efficiency of the use of resources, banks to assess credit conditions and determine the degree of risk, suppliers for timely receipt of payments, tax inspectorates to fulfill the plan of receipts of funds to the budget, etc.

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. At the same time, the analyst and the manager (manager) may be interested in both the current financial state of the enterprise and its projection for the near or more distant future, i.e. expected parameters of financial condition.

But not only time boundaries determine the alternatives of the goals of financial analysis. They also depend on the goals of the subjects of financial analysis, i.e. specific users of financial information.

The objectives of the analysis are achieved as a result of solving a certain interrelated set of analytical problems. An analytical task is the specification of the objectives of the analysis, taking into account the organizational, informational, technical and methodological capabilities of the analysis. The main factor, ultimately, is the volume and quality of the original information. It should be borne in mind that periodic accounting or financial statements enterprises are just “raw information” prepared in the course of performing accounting procedures at the enterprise.

To make management decisions in the field of production, sales, finance, investment and innovation, management needs constant business awareness of relevant issues, which is the result of selection, analysis, assessment and concentration of the initial raw information, it is necessary to analytically read the initial data based on the goals of analysis and management. ...

The basic principle of analytical reading of financial statements is the deductive method, i.e. from general to specific, but it must be applied repeatedly. In the course of such an analysis, the historical and logical sequence of economic facts and events, the direction and strength of their influence on the results of activities, are reproduced.

Introduction of a new chart of accounts accounting, casting of forms accounting statements in greater compliance with the requirements of international standards necessitates the use of a new method of financial analysis that meets the conditions of a market economy. Such a technique is needed for an informed choice. business partner, determining the degree of financial stability of the enterprise, assessing business activity and the effectiveness of entrepreneurial activity.

The main (and in some cases the only) source of information about the financial activities of an enterprise is the financial statements, which have become public. Enterprise reporting in market economy is based on the generalization of financial accounting data and is an information link connecting the enterprise with society and business partners - users of information about the enterprise's activities.

In certain cases, for the implementation of the purposes of financial analysis, it is not enough to use only financial statements. Certain groups of users, for example, management and auditors, have the opportunity to involve additional sources (production and financial accounting data). However, more often than not, annual and quarterly reports are the only source of external financial analysis.

The financial analysis methodology consists of three interrelated blocks:

1) analysis of the financial results of the enterprise;

2) analysis of the financial condition;

3) analysis of the effectiveness of financial and economic activities.

The main source of information for analyzing the financial condition is the balance sheet of the enterprise (form N1 of annual and quarterly reporting). Its importance is so great that financial analysis is often referred to as balance sheet analysis. Data source for analysis financial results is a report on financial results and their use (form No. 2 of annual and quarterly reports). Source additional information for each of the blocks of financial analysis is an appendix to the balance sheet (form No. 5 of the annual reporting).

1.3 Indicators of the analysis of economic activity

The subject of the analysis of economic activity is the economic processes and the final results of the enterprise, occurring under the conditions of the action of objective and subjective factors and are reflected in the system of economic information.

The subjects of analysis, both directly and indirectly, are interested users of information. The direct users are the owners of the enterprise funds, banks, suppliers, tax authorities, enterprise personnel and management.

The second group of users is the subjects of analysis who are not directly interested in the activities of the enterprise, but must, by contract, protect the interests of the first group of users of the reporting (for example, audit services).

The economic activity of an enterprise, even a single indicator, can be influenced by numerous and varied reasons. It is very difficult to identify and study the effect of absolutely all causes, and besides, it is not always practically expedient.

The analysis of certain indicators of economic phenomena, processes, situations begins with the use of absolute values (volume of production in value and in kind, volume of goods turnover, the sum of production costs and distribution costs, etc.)

In the analysis, absolute values are used to a greater extent as a basis for calculating average and relative values.

Relative values are indispensable in the analysis of phenomena in dynamics. These include coefficients, percentages, indices that reveal the analytical characteristics of phenomena: their frequency or intensity, changes in phenomena in time or space, etc.

The efficiency of an enterprise can be investigated from a variety of perspectives: from the point of view of cost formation, planning of production volume, profit, implementation of investment projects, etc. However, analysis of the behavior of costs, methods of their distribution, drawing up and monitoring the implementation of estimates, calculating the cost of products and products, determination of the threshold of profitability of production and sales of products - all these questions are only necessary the initial stage assessing the overall performance of an enterprise that functions as a whole.

Economic activity is characterized by a relatively small range of indicators. (Fig. 1 - Appendix 1)

From production conditions (technical and organizational level, natural conditions, conditions social development production collective and external economic conditions) depends on the degree of use of production resources: means of labor (block 2), objects of labor (block 3), and the living labor itself (block 4). The intensity of the use of production resources is manifested in such generalizing indicators as capital productivity of fixed assets, material consumption of production, labor productivity.

Comparison of the indicators of the volume of production and the cost price characterizes the amount of profit and the profitability of products (block 8). Comparison of the volume of production and the value of advanced fixed working capital characterizes the reproduction and turnover of capital (block 9), i.e. return on assets of the main production functions and the turnover of working capital. The obtained indicators, in turn, together determine the level of profitability of economic activity. Level overall profitability in the numerator of the formula reflects not only the profit from the sale of products, but also other financial results.

The financial condition and solvency of the enterprise depend on the fulfillment of the profit plan and the financial plan in general, on the one hand, and on the turnover of working capital, on the other (block 11). This is the general schematic diagram of the formation of economic and financial indicators of the economic activity of the enterprise.

1.4 Financial analysis

Analysis is one of the most important functions of any enterprise management. Efficiency analysis is a part of this function and its role in a market economy is very significant.

The objectives of the analysis are:

- assessment of the current and future state of the enterprise;

- assessment of the possible and expedient pace of development of the enterprise from the standpoint of their financial support;

- identification of available sources of funds and assessment of the possibilities and feasibility of their mobilization.

As a result of the analysis of efficiency, a number of reserves are determined, the introduction of which makes it possible to increase the efficiency and effectiveness of the enterprise.

The basis for the information support of the analysis is the financial statements: form No. 1 "Balance", form No. 2 "Report on financial results".

The analysis of the efficiency of economic activity includes several stages (Fig. 2 - Appendix 2).

At the first stage, the so-called express analysis is performed, the purpose of which is to obtain a clear and quick assessment of the financial well-being and dynamics of development of an economic entity. The method of express analysis of reporting provides for the analysis of the structure of enterprise funds and their sources.

At the second stage, the analysis of profit as a financial result of the economic activity of the enterprise and various indicators of profitability is carried out.

Next, a turnover analysis is carried out current assets, which determines the size of the minimum working capital required for economic activity and the amount of costs associated with the possession and storage of stocks. Since this is reflected in the cost of production, as a result of the analysis, it is possible to determine the reserves for increasing the financial results of the enterprise.

In the development of this direction, an analysis of various financial liquidity ratios and capital structure is carried out. They are calculated to determine the ability of the company to repay its debt and open reserves at the level of individual components of the company's capital.

The financial position of the enterprise, to a large extent, depends on the feasibility and correctness of investing financial resources in assets. Assets are dynamic in nature. In the course of the functioning of the enterprise, the value of assets and their structure undergoes constant changes. An assessment of the progressiveness of the qualitative changes that have taken place in the structure of funds and their sources, as well as the dynamics of these changes, can be obtained using vertical and horizontal analysis of reporting.

1.5 Assessment of the profitability of an enterprise and the efficiency of using its economic potential

The effectiveness and economic feasibility of the operation of the enterprise are measured by a number of absolute and relative indicators of profit. Profit as an economic category reflects the net income created in the sphere of material production in the process of entrepreneurial activity. The value of profit is that it reflects the final financial result.

The final financial result of the economic activity of the enterprise is the balance sheet profit. Balance sheet profit is the sum of the profit (loss) of the enterprise both from the sale of products and income (losses) not related to its production and sale.

Profit from the sale of products (works, services) is a financial result obtained from the main activity of an enterprise, which can be carried out in any form fixed in its charter and not prohibited by law. The financial result is determined separately for each type of activity of the enterprise related to the sale of products, performance of work, provision of services. It is equal to the difference between the proceeds from the sale of products in current prices and the costs of their production and sale.

Profit (loss) from the sale of fixed assets, their other disposal, the sale of other property of the enterprise is a financial result not related to the main activities of the enterprise. It reflects the profit (loss) on other sales, which includes the sale to the side of various types of property on the balance sheet of the enterprise.

Profit from the sale of products, works, services occupies the largest share in the structure of the company's balance sheet profit. Its value is formed under the influence of three main factors: the cost of production, the volume of sales and the level of current prices for the products sold. The most important of these is cost. Quantitatively, it occupies a significant share in the price structure, therefore, a decrease in the cost price has a very noticeable effect on the growth of profits, all other things being equal.

To assess the efficiency of the enterprise, profit is compared with costs or resources used. Weighing profit against cost means profitability. In the practice of enterprises, a number of profitability indicators are used:

Profitability can be calculated for all products sold and for individual types. It is calculated as the ratio of profit from sales to revenue from sales of products. The indicators of profitability of all sold products give an idea of the efficiency of the current costs of the enterprise and the profitability of the products sold.

The profitability of production assets is calculated as the ratio of the profit to the average annual cost of fixed assets.

The return on investment in an enterprise is determined by the value of the property at its disposal. The profitability of the company's own funds is determined by the ratio of profit to its own funds, determined by the balance sheet.

Having examined the theoretical foundations of economic and financial analysis, as well as the formulas for calculating economic indicators, it is possible to analyze and diagnose a specific economic entity using the example of JSC Yurgakhleb.

enterprise production financial analysis

2 Analysis of production and economic activities and financial condition of the enterprise of JSC "Yurgakhleb" for 2012

2.1 Analysis of production and sales of products

2.1.1 Analysis of the dynamics of production and sales of products

The results of the analysis are summarized in table. 1 and draw conclusions.

Table 2.1.1 - Production and sales of products, thousand rubles

Indicators in comparable prices are calculated as the actual volume of production in prices of the base period.

Output and sales of products in current prices increased by 15.8% and 13.0%, respectively.

2.1.2 Analysis of the level of development of production capacity

The results of the analysis are summarized in table. 2.1.2 and draw conclusions.

Table 2.1.2 - Information on the development of production capacity

Indicators			Deviation

1. Production output, thousand tons
2. Production capacity, thousand tons
3. The level of development of production capacity,%

The level of development of production capacity decreased by -7.3%.

2.1.3 Analysis of the range and structure of products

The results of the analysis are summarized in table. 2.1.3 and draw conclusions.

Table 2.1.3 - Production output of the enterprise by assortment, thousand rubles.

Name of product	Growth rate, %	Fact 2012 within 2011	Underfulfillment of the plan	Issue by assor.
Products A
Products B
Products B
Products G

Table 2.1.4 - Structure of product output

Name of product	Issue, thousand rubles	Structure,%	Fact with a planned structure	Credited to the execution of the plan

Products A
Products B
Products B
Products G

Table 2.1.5 - Profitability by product type

The profitability for each type of product is calculated using the formula

The return on sales by product type ranged from 10.6% to 27.3%.

2.1.4 Assessment of the rhythm of production

Table 6 - Product release by month

	Production output, thousand tons	Actually within the plan	Rhythm coefficient









September

Rhythm coefficient (RR) is calculated by the formula

KR = DPP / DPL,

where DFP is the actual output within the plan, thousand rubles; DPL - production according to plan, thousand rubles.

2.2 Analysis of the use of fixed assets

2.2.1 Analysis of the composition and structure of fixed assets

Table 2.2.1 - Dynamics of the average annual cost of fixed assets, thousand rubles.

The calculation of structure indicators in the context of groups and types of fixed assets is presented in table. 2.2.2.

Table 2.2.2 - Availability and structure of OF

OF groups	At the beginning of the year, thousand rubles	At the end of the year, thousand rubles	Structure,%	Abs. off

			For the beginning of the year	At the end of the year
Fixed assets, total
Production fixed assets:

Constructions
cars and equipment
Vehicles
Inventory

Active part
Passive part
Non-productive fixed assets

2.2.2 Analysis of the movement of fixed assets

Input ratio fixed assets ( ) shows the share of fixed assets newly introduced in the reporting period in their value at the end of the period:

.(F),

where FP- the cost of the fixed assets received, thousand rubles; Fc- the cost of fixed assets at the end of the year, thousand rubles; F- the average annual cost of fixed assets:

Ф = (2 002 +2 588) / 2 = 2295

Retirement rate ( ) fixed assets shows the share of fixed assets retired in the reporting period in their value at the beginning of the period:

.(F),

where Fv- the cost of retired fixed assets, thousand rubles; Fn- the cost of fixed assets at the beginning of the year, thousand rubles.

Novelty coefficient(Kn) shows the share of new fixed assets in the total value introduced in the reporting period:

,

where Fnov- the cost of new fixed assets, thousand rubles.

Retirement Compensation Ratio shows how many of the introduced fixed assets by their value fall on the ruble of the retired fixed assets:

.

Growth rate fixed assets shows the increase in the value of fixed assets per ruble of their value at the beginning of the year:

.

Table 2.2.2 - Indicators of movement of the OF

OF groups	Odds
		Compensation	Growth
Fixed assets, total

Constructions
cars and equipment
Vehicles
Inventory
Active part
Passive part

2.2.3 Analysis of the technical condition of fixed assets

Table 2.2.3 - Indicators of the technical condition of the processing plant

OF groups	For the beginning of the year	At the end of the year	Deviation,
		Depreciation, thousand rubles	Wear rate,%	Initial cost, thousand rubles	Depreciation, thousand rubles	Wear rate,%
Fixed assets, total

Constructions
cars and equipment
Vehicles
Tool
Active part
Passive part

Wear factor shows how worn out the objects of fixed assets at a certain date:

where AND- accrued depreciation, thousand rubles; Ps- the initial cost of fixed assets, thousand rubles.

Expiry factor (Kg) shows the degree of suitability of fixed assets for further use:

Kg = 100 - Ki = 100 - 10.7% = 89.3%.

2.2.4 Analysis of the effectiveness of the use of fixed assets

Return on assets shows how much production falls on each ruble of the value of fixed assets:

where TP- commercial products, thousand rubles; F- the average annual cost of fixed assets, thousand rubles.

Capital-labor ratio shows how many fixed assets are in one average employee and reflects the provision of labor with means of mechanization:

where H- the average number of workers, people.

Fund profitability shows how much profit is received per ruble of the cost of fixed assets:

where NS- profit before tax, thousand rubles

To carry out the analysis of the influence of factors of change in capital productivity and changes in the average annual cost of fixed assets on the volume of marketable products by the method of chain substitutions.

Table 2.2.4 - Indicators of PF use

Indicators	Deviation, +, -	Growth rate, %

1. Commercial products, thousand roubles.
2. Average annual cost of fixed assets, thousand rubles.
3. The cost of the active part of the OPF, thousand rubles.
4. The share of the active part of the OB
5. Profit before taxation, thousand rubles.
6. Average number of workers, people.
7. Return on assets, rub.
8. Capital productivity of the active part, rubles.
9. Capital-labor ratio, thousand rubles / person.
10. Fund profitability of PF,%

The algorithm for calculating by the method of chain substitution for this model is as follows:

TPp = Fp · Php = 6.21 · 2002 = 12,430 thousand rubles.

TPusl = Fop · Ff = 6.21 · 2588 = 10864 thousand rubles.

TPf = Fof · Ff = 5.43 · 2588 = 14042 thousand rubles.

As you can see, the second indicator of gross production differs from the first in that when calculating it, the actual capital productivity was taken instead of the planned one. Average annual funds in either case are planned. This means that due to a decrease in capital productivity, output decreased by

DVPchr = TPusl-TPp = 10864-12430 = -1566 thousand rubles.

The third indicator differs from the second in that, when calculating its value, the average annual funds are taken at the actual level instead of the planned ones. The return on assets is actual in both cases. Hence, due to an increase in average annual funds, the volume of gross output increased by

DVPgv = TPf-TPusl = 14042-10864 = 3177 thousand rubles.

Thus, the overfulfillment of the plan in terms of gross output was the result of the influence of the following factors:

Their algebraic sum is equal to the total increase in the effective indicator.

2.3 Analysis of the use of labor and wages

2.3.1 Assessment of the structure and dynamics of personnel

Table 2.3.1 - Provision of labor resources and their structure

Indicators	Deviation,	Growth rate, %



Workers
Employees
Specialists
Leaders
Non-industrial personnel

2.3.2 Analysis of the movement of labor resources

Labor turnover rate on admission shows the share of hired workers in the average headcount:

where Chpr- the number of people employed, people; H- the average number of employees, people.

Labor force turnover rate by retirement shows the share of retired employees in the average headcount:

where Hw- the number of employees who quit, people.

Flow rate

where Chnu- the number of employees dismissed for disrespectful reasons ( on their own and violation of labor discipline), people.

Table 2.3.2 - Analysis of the movement of labor resources

Indicators			Deviation

1. Number at the beginning of the year
2. Accepted
3. Fired everything
including for disrespectful reasons
4. Headcount at the end of the year
5. Average headcount

Reception rate
Retirement rate
Flow rate

2.3.3 Analysis of the effectiveness of the use of labor resources

Table 2.3.3 - Labor productivity

Indicators			Deviation

1. Marketable products in comparable prices, thousand rubles.
2. Average number of PPP, people.
3. Average number of workers, people.
4. Share of workers in PPP
5. The number of days of work for the release of products
6. Average working day, h
7. Average annual output of PPP, thousand rubles. (p. 1 / p. 2)
8. Average annual output of a worker, thousand rubles. (p. 1 / p. 3)
9. Average hourly output of a worker, thousand rubles. (p. 8 / (p. 5 Part 6))

Using the method of absolute differences, analyze the influence of factors on the value of the average annual output:

The impact of changes in the share of workers in the number of PPP;

The effect of changing the number of days of work;

The impact of changing the length of the working day;

The influence of changes in the average hourly output of a worker.

Using the method of absolute differences, analyze the influence of factors on the change in marketable output:

Impact of changes in numbers;

Influence of changes in production.

2.3.4 Analysis of the dynamics of wages

Table 2.3.4 - Analysis of the dynamics of wages

Indicators			Deviation

1. Average number of PPP, people.
2. Average number of workers, people.
3. Wages fund of PPP, thousand rubles.
4. Wages fund for workers, thousand rubles.
5. Average monthly wages of workers, rubles.
6. Average monthly salary of a PPP employee, rubles.

2.4 Analysis of production costs

2.4.1 Analysis of the dynamics of costs per 1 rub. marketable products

Table 2.4.1 - Dynamics of costs per ruble of marketable products

2.4.2 Cost structure by economic elements

Table 2.4.2 - Cost structure by elements

Name	Total, thousand rubles	Structure,%	Deviation
elements

Material costs
Labor costs
Social contributions
Depreciation of fixed assets
Other costs
Full cost

Table 2.4.2 - Dynamics of indicators of unit costs

2.4.3 Factor analysis of costs

Table 2.4.3 - Indicators for performing factor analysis of costs

Product type	Production output, thousand tons	Cost price, RUB / t	Price, rub / t	Costs at the base cost, thousand rubles	Commercial products in base prices, thousand roubles.

2.5 Table 2.5 - Factor analysis of costs

Indicators	Value, cop.
1. Costs per ruble of marketable products
1.1. Base period
1.2. Reporting period at cost and in prices of the base period
1.3. Reporting period at the cost of the reporting period in prices of the base period
1.4. The reporting period
2. Influence of factors:
Production volume (p.1.2. - p.1.1.)
Unit cost (page 1.3 - page 1.2)
Unit prices (page 1.4 - page 1.3)

2.6 Analysis of profit and profitability

2.6.1 Analysis of profit indicators

Table 2.6.1 - Analysis of the dynamics of profit indicators, thousand rubles.

Indicators			Deviation

1. Sales proceeds
2. Cost of production
3. Administrative expenses
4. Selling expenses
5. Profit from sales
6. Result from other operations
7. Result from non-sales transactions
8. Profit before tax
9. Net profit

2.6.2 Factor analysis of sales profit

The influence of factors is calculated as follows.

1. Factor "sales proceeds":

Pv = (B1 - B0) H P0 / 100,

where B1, B0- revenue in the reporting and base periods; P0- return on sales in the base period.

2. Factor "cost":

Ps = -V1Ch (US1 - US0) / 100,

where US1, US0- the share of the prime cost in the proceeds,%.

3. Factor "commercial expenses":

Pk = -V1CH (UK1 - UK0) / 100,

where UK1, UK0- share of selling expenses in revenue,%.

4. Factor "management costs":

Pk = -V1CH (UU1 - UU0) / 100,

where UU1, UU0- share of administrative expenses in revenue,%.

Table 2.6.2 - Factor analysis of profit from sales

2.6.3 Analysis of results from other and non-operating transactions.

Table 2.6.3 - Analysis of other operating income

Indicators	Deviation, +, -	Growth rate,%

From the sale of fixed assets
From selling currency
From the elimination of the PF

From the sale of fixed assets
For bank services
From selling currency
From the sale of bills

From the elimination of the PF
From the liquidation of the IBE
Exchange difference
Result

Table 2.6.4 - Analysis of profit from non-operating transactions

Indicators	Deviation, +, -	Growth rate,%
Profit of previous years
Write-off accounts payable
Budget receipts
Exchange difference
Withheld from the workers
revenue of the future periods
Result

2.7 Analysis of the financial condition of the enterprise

2.7.1 Assessment of the composition and structure of property

Table 2.7.1 - Composition and structure of the property of the enterprise

Indicators	Deviation, +, -	Growth rate,%

2. Non-current assets, thousand rubles. (p. 190),
in% to property
3. Current assets, thousand rubles. (p. 290),
in% to property
3.1. Reserves, thousand rubles (p. 210),
in% to current assets
3.2. Accounts receivable, thousand rubles (p. 230 + p. 240),
in% to current assets
3.3. Cash and short-term financial investments, thousand rubles (p. 250 + p. 260),
in% to current assets
3.4. Other current assets, thousand rubles (p. 220 + p. 270),
in% to current assets
4. Overdue accounts receivable, thousand rubles. (f. No. 5),
in% to accounts receivable

2.7.2 Analysis of the composition and structure of sources of property formation

Table 2.7.2 - Analysis of the composition and structure of sources of funds

Indicators	Deviation, +, -	Growth rate,%
1. Property value, thousand rubles. (p. 300)
2. Equity capital, thousand rubles. (p. 490),
in% to property
2.1. Own current assets, thousand rubles (p. 490 - p. 190),
in% to equity
3. Debt capital,
in% to property
3.1. Long-term liabilities, thousand rubles (p. 590),
in% to borrowed capital
3.2. Short-term loans, thousand rubles (p. 610),
in% to borrowed capital
3.3. Accounts payable, thousand rubles (p. 620),
in% to borrowed capital
3.4. Other liabilities, thousand rubles (p. 630 + 640 + 650 + 660)
4. Overdue accounts payable, thousand rubles. (f. No. 5),
in% of accounts payable

One of the simplest ways to determine the sufficiency of own working capital (SOS) is as follows:

SOS = Equity (p. 490) - Non-current assets (p. 190).

2.7.3 Financial stability analysis

Method of absolute indicators.

Table 2.7.3 - Absolute indicators of financial stability

Indicators

1. Non-current assets (line 190)
2. Equity (p. 490)
3. Long-term liabilities (p. 590)
4. Short-term loans (p. 610)
5. Stocks (lines 210 + 220)
6. Functioning capital
7. Total sources
Surplus (deficiency) of SC
Surplus (deficiency) FC
Surplus (lack) of all sources
Financial strength type

The method consists in determining the type of financial stability on the basis of identifying the surplus or lack of sources of funds for the formation of reserves and costs. The following indicators are calculated:

Introduction.

Analysis is a very capacious concept that underlies all practical and scientific activities person. Analysis procedures include part of in any scientific and practical research and usually form its first stage, when the researcher moves from a simple description of an undifferentiated phenomenon to the study of its structure.

Analysis is the isolation of the essence of a process or phenomenon by identifying and then studying all its aspects and constituent parts, discovering the basis that connects all parts into a single whole, and building on this basis the laws of its development. Analysis involves the procedure of mental and sometimes real dismemberment of an object or phenomenon into parts.

The analysis of financial and economic activities (AFHD) of the enterprise is an important part, and, in fact, the basis for decision-making at the microeconomic level, i.e. at the level of business entities.

The main task of the AFHD is to assess the results of economic activities, to identify the factors that determined the successes and failures in the analyzed period, as well as to plan and forecast the activities of the enterprise for the future. It is solved using not only cost accounting data, but also operational and statistical data in various units of measurement.

The main purpose of the analysis is to increase the efficiency of the functioning of economic entities and to search for reserves for such an increase.

To achieve this goal, the following are carried out:

· assessment of results for the past periods;

· development of operational control procedures for production activities;

· development of measures to prevent negative phenomena in the activities of the enterprise and in its financial results;

· opening the reserves for improving the performance; development sound plans and standards.

For the beginning of the year

At the end of the year

Total income and receipts

(page 010 + page 060 + page 080 + page 090 + page 120 + page 170)

2. Total expenses for financial and economic activities (line 020 + line 030 + line 040 + line 070 + line 100 + line 130 + line 180)

3. Sales revenue (line 150)

Based on the analysis in Table 7, the following conclusions can be drawn:

1. A decrease in the indicator on line 3 indicates that the organization receives more and more income not from its main activities; if it is not carried out to the detriment of the main activity, then the trend can be considered positive.

2. A decrease in indicators on p. 2 and p. 4 is a positive trend, if, with a relative decrease in the cost of manufacturing the sold products, its quality does not suffer.

3. The growth of the indicator on page 5 is favorable and indicates an increase in the profitability of products and a relative decrease in production and distribution costs.

4. The growth of indicators on page 10 and page 12 also indicates positive trends in the organization of production at this enterprise, different rates of change in these indicators can be caused mainly by adjustments to the tax system.

5. The indicator on line 11 characterizes the share of profit transferred to the budget in the form of income tax and mandatory payments; the growth of this indicator in dynamics, which occurs, as a rule, with an increase in tax rates, is undesirable, but necessary and does not depend on commercial organization phenomenon; within the framework of intra-firm financial analysis, here it is possible to identify and control the dynamics of penalties.

Profitability analysis

To analyze profitability using the ratio method, profitability ratios are calculated, and their values are analyzed at the beginning and end of the reporting period, as well as the absolute change in the ratio for the period.

The most important indicators of profitability are:

1) Return on assets ratio:

To r.ak. (CEA) = PE / A,

where PE is the net profit; = p.140 - p. 150 of the "Profit and Loss Statement" (f. 2) - diverted funds, excluding deductions to the accumulation fund.

The value of the coefficient characterizes the amount of profit per unit of funds spent, regardless of the source of their formation.

2) Profitability ratio of implementation.

To r.r. = VP / RP (1)

or K r.r. = CP / RP, (2)

where VP is the gross profit; = p.010 - p.020 ("Profit and Loss Statement", Form 2)

RP - net proceeds from product sales; page 010 ("Profit and Loss Statement" Form 2).

PE - net profit; = p.140 - p. 150 ("Profit and Loss Statement" Form 2).

The value of the coefficient characterizes the amount of profit received per unit of product sold (profitability of sales of a unit of product).

Indicator (1) reflects changes in the pricing policy and the ability of the enterprise to control the cost of goods sold (in terms of payment of current expenses, payment of taxes, etc.).

The most significant is the profitability indicator, which is determined on the basis of the amount of net profit. It allows you to determine how much net profit is received for each unit of products sold.

3) Return on equity ratio:

To r.k. (RCC) = PE / SS,

where CC is equity (average annual cost); = p. 490 p. - p. 450 p.

The value of the coefficient characterizes the efficiency (profitability) of the unit own funds, invested in production, makes it possible to compare it with the efficiency of investments in other areas.

The return on equity shows how many monetary units of net profit each unit of funds invested by the owners of the company earned.

It is important to assess the influence of factors on profitability indicators, which will allow us to determine the reserves for its increase.

The calculation of profitability indicators in different options allows for a more detailed analysis. For example, a comparison of the return on assets and equity ratio may indicate a significant difference between them. This difference is due to the use of borrowed funds by the enterprise. The expediency of using attracted sources of financing will be determined by the ratio between the amount of profit obtained as a result of using borrowed funds and the amount of interest paid for them.

Table 8

Enterprise profitability ratios

Indicator name

Formula for calculating the indicator

Estimated value at the beginning of the year

Estimated value at the end of the year

Absolute change over the year

1.The ratio of return on assets

To r.ak. = PE / A

641677-40473/83864012=0.007

672875-236703/84090111=0.005

2.The coefficient of profitability of implementation

To r.r. = VP / RP

To r.r. = PE / RP

3924457-2978313/3924457=0.24

2611662-1679929/2611662=0.36

3. Ratio of return on equity

To r.sk. = PE / SS

641677-40473/3924457=0.15

672875-236703/2611662=0.17

Based on the results of calculations of the structure and dynamics of indicators of the financial activity of the enterprise (Table 7) and profitability ratios (Table 8), we conclude about the quality of the financial results of the enterprise.

The value of the return on assets ratio characterizes the amount of profit per unit of funds spent, regardless of the source of their formation. A decrease in the absolute change in this indicator for the reporting period by 0.002% indicates a decrease in the company's profit.

The profitability ratio of sales reflects the amount of profit received per unit of products sold, i.e. changes in pricing policy and the ability of the enterprise to control the cost of goods sold. An increase in the absolute change in the indicator for the reporting period by 0.12% indicates an increase in the profitability of the sale of a unit of production.

The return on equity ratio characterizes the profitability of a unit of equity invested in production. An increase in the absolute change in the indicator for the reporting period by 0.02% indicates a slight increase in monetary units of the company's net profit.

Literature:

1. Vitchenko M.N. Analysis financial and economic activity of enterprises of railway transport: Textbook for universities of railway transport. - M .: Route, 2003

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Ministry of Education and Science of the Russian Federation

Federal State Budgetary Educational Institution

higher professional education

St. Petersburg State University Technology and Design "

Institute of Information Technology and Automation

Specialty (direction) Economics and enterprise management

Department of Management

COURSE WORK

(course project)

on the topic "Analysis and diagnostics of the financial and economic activities of the enterprise"

Artist - student study group ___ 5-VD-4 ___________ (group)

Matyushin N.S. _____

Supervisor term paper ______ Shulgina L.A.

Saint Petersburg 2014

Introduction

In modern economic conditions, the activity of each economic entity is the subject of attention of a wide range of market participants interested in the results of its functioning.

The relevance of this topic of work is confirmed by the fact that the real conditions for the functioning of the enterprise determine the need for an objective and comprehensive financial analysis of business transactions, which allows you to determine the features of its activities, shortcomings in work and the reasons for their occurrence, as well as, based on the results obtained, select specific recommendations for optimizing activities ...

When moving from centralized system functioning of the economy to a market one, the methods of financial analysis and the composition of the analyzed indicators have radically changed. The main purpose of conducting a comprehensive financial analysis is to ensure the sustainable operation of the enterprise in specific economic conditions.

To ensure the survival of an enterprise in modern conditions, management personnel must, first of all, be able to realistically assess the financial condition of their enterprise, as well as existing potential competitors.

The purpose of this work is to analyze the financial condition of an enterprise as a tool for taking measures to improve its financial condition and stabilize the situation. To achieve this goal, it is necessary to solve the following tasks:

Study the activities of the analyzed enterprise CJSC "Aigul";

Analyze the financial condition using the example of Aigul CJSC;

Identify the main directions of improving the financial condition of the enterprise.

The object of the research is the financial activity of Aigul CJSC.

The subject of the research is the financial condition of Aigul CJSC.

The practical significance of the work is that the aspect of company management is becoming the most significant at the present time, since the practice of the market functioning shows that without an analysis of the financial condition of the company, it cannot function effectively.

Characteristics of Aigul CJSC

Aigul CJSC today is one of the domestic manufacturers of control and measuring devices, firmly entering the top five market leaders in this area.

The company was founded in 1998 in the city of Neryungri. Takeover of KFM by the German concern WIKA In 2003, Aigul predetermined the transition to own production devices on the basis of the "Yakutsk Metalware Plant" (Republic of Sakha Yakutia).

"Aigul" today is two modern production sites, sales offices in many cities of Russia and a large assortment of finished products, both in its own warehouses in Neryungri, Yakutsk, Chita, and at more than 80 of our regional partners, which makes the products available in anywhere in the RF. The company's pricing policy provides a flexible system of discounts for partners and end consumers.

Legal address of the company:

134040, Republic of Sakha Yakutia. G. Neryungri, Mira street 68

Actual address:

134155, Neryungri, prospect MZhK, 5

Nomenclature and product range

	Nomenclature	Range
	Pressure gauges	General technical
		Welding
		Boiler
		Accurate measurements
		Vibration resistant
		For measuring low pressure gas
		Corrosion-resistant
	Thermomanometers	Combined
		Instruments for measuring pressure and temperature
	Thermometers	General technical bimetallic
		Corrosion-resistant bimetallic
		Liquid
	Equipment	Pressure transducers
		Taps and valves
		Liners from of stainless steel and o-rings

1. Analysis of the property of the enterprise

We begin the analysis of the financial condition by studying the composition and structure of the property of the enterprise according to the balance sheet using the methods of horizontal (based on studying the dynamics of indicators and determining their absolute and relative changes) and vertical (based on studying the structure of property and the reasons for its change) analysis.

The balance sheet asset allows you to give a general assessment of the change in the entire property of the enterprise, highlight non-current assets and current assets in its structure, and study the dynamics of the property structure.

Analysis of the dynamics of the composition and structure of property makes it possible to establish the size of the absolute and relative increase (decrease) of the entire property of the enterprise and its individual types.

The increase in the asset indicates the expansion of the enterprise, but can also be the result of inflation. A decrease in the asset indicates a reduction in the company's economic turnover and may be the result of depreciation of fixed assets or the result of a decrease in effective demand for goods, work and services of the enterprise, etc.

Indicators of structural dynamics reflect the share of participation of each type of property in the total change in total assets. Their analysis allows us to conclude in which assets the newly attracted financial resources are invested or which assets have decreased due to the outflow of financial resources.

1.1 Building the analytical balance of the enterprise

Analytically, the balance, built by aggregating elements of homogeneous composition - balance sheet items, allows you to bring together and systematize calculations related to the study of the balance sheet, to characterize the financial condition of the enterprise at the reporting date and in dynamics, as well as to conduct horizontal and vertical analysis.

Table 1. Comparative analytical balance

	Absolute values, thousand rubles	Specific gravity,%	Relative change,%
	at the beginning of the period	at the end of the period	changed (+, -)	at the beginning of the period	at the end of the period	change (+, -)	to the value at the beginning of the period	to change the total balance


I. NON-CURRENT ASSETS
Intangible assets
Fixed assets
TOTAL for Section I
II. CURRENT ASSETS

Receivables

TOTAL for Section II



III. CAPITAL AND RESERVES
Authorized capital
Retained earnings (uncovered loss)
TOTAL for Section III

Loans and credits
TOTAL for Section IV

Accounts payable
TOTAL for section V

As can be seen from Table 1, the total value of the property of the enterprise increased by 8059 thousand rubles during the reporting year. (or 34.45%).

This happened due to an increase in current assets (the cost of mobile property) by 8240 thousand rubles. (or 36.2%) and by reducing the cost of non-current assets by 181 thousand rubles. (or 28.73%).

The increase in current assets is due to an increase in the company's cash by 5889 thousand rubles. (or 79.06%), their share in the value of assets increased by 10.56% and by the end of the reporting period amounted to 42.41%, which has a positive effect on the company's solvency.

Also, the increase in current assets was due to an increase in accounts receivable by 1,766 thousand rubles. (or 13.82%).

Inventories for the reporting year increased by 585 thousand rubles. (or by 23.08%) mainly due to an increase in finished products.

The decrease in the cost of non-current assets was due to a decrease in the cost of fixed assets by 181 thousand rubles. (or 28.73%), which may be the result of the revaluation of fixed assets.

In the course of the analysis of the indicators of the structure of dynamics, it was found that at the end of the period, 1.43% were non-current assets and 98.57% were circulating assets.

The ratio of own funds to borrowed funds (11081/20372) is 0.54. This means that 54% of the activity is financed from own funds.

Fixed assets occupy the main place in the structure of non-current assets (1.43%), and in the structure of circulating assets - cash and cash equivalents (42,41%).

1.2 Analysis of non-current assets of the enterprise

The property of the enterprise includes fixed and circulating assets, as well as other values, the value of which is reflected in the balance sheet. Assessment of the location and structure of property is of paramount importance in determining the financial condition of an enterprise (Table 2).

The irrational structure of property caused by the lack of renewal of fixed assets with a high degree of wear and tear can lead to a decrease in the volume of production and sales of products and, as a consequence, to a deterioration in the financial situation of the enterprise.

In the course of the analysis, the value of real assets that characterize the production potential of the enterprise is determined. These include: fixed assets, production inventories and work in progress (fixed assets are taken into account at residual value). These elements, being essentially means of production, create the necessary conditions for the implementation of the main activity.

The increase in the share of real property in the total value of all property indicates the potential of the enterprise to expand the volume of production activities.

The purpose of the structural analysis is to study the structure and dynamics of the enterprise's funds and the sources of their formation in order to get acquainted with the general picture of the financial condition. Structural analysis is preliminary in nature, since its results cannot yet give a final assessment of the quality of the financial condition, for which it is necessary to calculate special indicators. Structural analysis is preceded by a general assessment of the dynamics of the company's assets, obtained by comparing the growth rate of assets with the growth rate of financial results (for example, sales revenue, sales profit or net profit).

Table 2. Analysis of the composition and structure of the property of the enterprise

Types of property	Meaning
	at the beginning of the period	at the end of the period	change (+, -)

The value of the property of the enterprise, total
Including:
Fixed assets
Current assets
Real property value
The ratio of non-current and circulating assets

The value of the property is equal to the sum of non-current and current assets.

The cost of real property is equal to the sum of fixed assets (at the beginning - 630 thousand rubles, at the end - 449 thousand rubles), work in progress and materials.

The cost of real property in 2011 = 630 thousand rubles.

The cost of real property in 2012 = 449 thousand rubles.

As can be seen from Table 2, during 2011 the value of the company's property increased by 34.45%. This is due to the growth of current assets by 8240 thousand rubles. (or by 36.2%), due to an increase in cash, while the cost of non-current assets decreased by 181 thousand rubles. (or by 28.73%), due to a decrease in fixed assets.

The value of real property decreased by 181 thousand rubles. (or by 28.73%), due to a decrease in the cost of fixed assets, this may indicate a decrease in the production capabilities of the enterprise.

Rice. 1. Change in the structure of the value of the property of the enterprise

Table 3. Composition and structure of non-current assets

Table 3 shows that during 2011 the value of non-current assets decreased by 181 thousand rubles. (or 28.73%). This trend is due to a decrease in the cost of fixed assets by 181 thousand rubles. (or 28.73%).

1.3 Analysis of current assets of the enterprise

The material elements of circulating assets (objects of labor) are completely consumed in each production cycle, can lose their natural-material form and are fully included in the cost of manufactured products (work performed, services rendered).

The main tasks of the analysis of current assets are:

Study of changes in the composition and structure of current assets (tab. 4);

Determination of the main sources of the formation of working capital;

Determination of the efficiency of using current assets.

Table 4. Composition and structure of the company's current assets

Asset item	Meaning
	at the beginning of the period	at the end of the period	change

Current assets, total
Including:

Receivables
Cash and cash equivalents

Table 4 shows that current assets increased by 8240 thousand rubles. (or 36.2%). This was due to an increase in cash by 5889 thousand rubles. (or 79.06%), due to an increase in accounts receivable by 1,766 thousand rubles. (or by 13.82%), as well as due to an increase in reserves by 585 thousand rubles. (or 23.08%).

Rice. 2. Change in the structure of current assets.

1.3 .. Stock analysis

Inventory creation is necessary condition ensuring a continuous production process.

Excess stocks lead to unjustified diversion of funds from economic circulation, which ultimately affects the growth of accounts payable and is one of the reasons for the unstable financial situation. Lack of inventory can lead to a reduction in production and a decrease in the amount of profit, which also affects the deterioration of the financial condition of the enterprise. With this in mind, stocks must be optimal.

The state of stocks and costs can be characterized using table 5.

To assess the structure of inventories, the accumulation factor (KN) is used. It is determined by the ratio of the total cost of inventories, work in progress, deferred expenses to the cost of finished goods and goods shipped.

The accumulation coefficient characterizes the level of mobility of inventories. In the optimal variant, it should be less than 1. This ratio is valid only if the company's products are competitive and in demand.

According to the company's balance sheet, the stock accumulation ratio was at the beginning of the year:

Kn = 483/2052 = 0.2

At the end of the year:

Kn = 269/2851 = 0.094

Calculations show that the accumulation coefficient at the beginning of the year is less than one, which means that the level of mobility of inventories was optimal, but by the end of the year the coefficient became even lower, this suggests that the level of mobility is very high, and that stocks at the enterprise are practically not accumulated ... This is a very good result.

Table 5. Analysis of stock status

As can be seen from table 5, stocks of inventories for the analyzed period increased by 585 thousand rubles. (or 23.08%).

The main increase occurred in the item “Finished products”, the amount of which increased by 799 thousand rubles. (or 38.94%). At the same time, the amount of deferred expenses decreased by 214 thousand rubles. (or 44.31%).

Changes in the quantities and structure of reserves are shown in Fig. 3.

Rice. 3. Changes in the structure of stocks

Fig. 4. Stock structure at the beginning of the year

Fig. 5. Stock structure at the end of the year

To assess the turnover of stocks, the indicators of the turnover ratio (number of revolutions) and the turnover period are used.

The turnover ratio is calculated as the ratio of the cost of goods sold to the average amount of inventories. The average amount of stocks is determined according to the balance sheet data as the arithmetic mean at the beginning and end of the analyzed period.

2011: Co.z = 183200 / 2134.5 = 85.8 times

2012: Co.z = 233033 / 2827.5 = 82 times

The value of the inventory turnover ratio equal to 82 shows that during the analyzed period the company used the remainder of its inventories 82 times.

The turnover period characterizes the number of days during which invoices are paid and inventories are sold, i.e. shows the duration of the cycle during which stocks are converted into cash.

2011: To.z = 90/85 = 1.05 day

2012: To.z = 90/82 = 1.1 days.

1.3.2 Analysis of accounts receivable

The state of the settlement discipline is characterized by the dynamics and structure of accounts receivable.

Accounts receivable are amounts due from buyers and customers. The upward trend in receivables makes the company dependent on the financial condition of its partners.

If the company expands its activities, then the number of buyers and, as a rule, accounts receivable grows. On the other hand, the company can reduce the shipment of products, then the accounts receivable will decrease.

In the process of analysis, the dynamics, composition, causes and timing of the formation of accounts receivable are studied, the amount of normal and overdue debt is established.

Normal accounts receivable arises as a result of the applied forms of payment for goods, services, when funds are issued for reports for various needs, etc.

"Unjustified" accounts receivable arises as a result of shortcomings in the work of the enterprise, for example, when identifying shortages and theft of inventory and cash.

In the process of analysis, the "quality" of the receivables is assessed. The qualitative state of accounts receivable characterizes the likelihood of its receipt in full. An indicator of this probability is the term of the debt formation, as well as the share of overdue debt. The longer the term of the receivable, the lower the likelihood of its receipt.

Accounts receivable by the time of formation are classified into accounts receivable:

Up to 1 month;

1 to 3 months;

3 to 6 months;

6 months to 1 year;

Over 1 year.

The normal (justified) debt is the debt, the maturity of which has not come, or is less than one month. Overdue debts include debts that have not been repaid within the terms established by the contract, debts that are unrealistic for collection, or accounts receivable for which the statute of limitations has expired. The diversion of funds into this debt creates a real threat of insolvency of the enterprise itself - the creditor.

Bills that buyers fail to pay are called bad debts. For debts that are unrealistic to be collected. In accordance with the established procedure, a reserve for doubtful debts is formed. Bad debts are repaid by writing them off to the company's losses as a receivable for which the limitation period has expired. Therefore, when reducing the amount of accounts receivable, it is important to establish whether this was not a consequence of its write-off as losses.

An analysis of the composition and structure of receivables is presented in Table 6.

Table 6. Composition and structure of receivables

The data in table 6 indicate an increase in accounts receivable by 1,766 thousand rubles. (or 13.82%). This happened due to an increase in the amount of settlements with buyers and customers by 1,056 thousand rubles. (or by 9.65%) and by increasing the amount of advances issued by 956 thousand rubles. (or 109.38%). At the same time, the amount of settlements with other debtors decreased by 246 thousand rubles. (or by 25.52%).

To assess the turnover of receivables, the indicators of the turnover ratio (number of revolutions) and the turnover period are used.

The turnover ratio is calculated as the ratio of sales proceeds to the average amount of receivables.

The average amount of accounts receivable is determined according to the balance sheet data as the arithmetic mean at the beginning and end of the analyzed period.

The coefficient shows how many times the debt is formed during the analyzed period, and characterizes the speed with which the receivable will be converted into cash.

2011: Co.z = 204403 / 10856.5 = 18.8 times

2012: Co.z = 257446/13663 = 18.8 times

The value of the accounts receivable turnover ratio equal to 18.8 shows that during the analyzed period accounts receivable are formed at the enterprise almost 19 times.

The period of turnover (repayment) of accounts receivable is calculated in days and characterizes the period of commodity lending to consumers, i.e. shows the duration of the cycle during which the receivables turn into cash.

2011: To.z = 90 / 18.8 = 4.7 days

2012: To.z = 90 / 18.8 = 4.7 days.

1.3.3 Analysis of enterprise cash

One of the main conditions for the financial well-being of the enterprise is the flow of funds, which ensures the repayment of all priority payments. The analysis of the turnover of the enterprise's funds is carried out similarly to the analysis of the turnover of accounts receivable.

Table 7. Composition and structure of the enterprise's funds

During 2011, the company's cash increased by 5889 thousand rubles. (or 79.06%).

The turnover ratio is calculated as the ratio of sales proceeds to the average value of cash balances.

The average value of funds is determined according to the balance sheet data as the arithmetic mean at the beginning and end of the analyzed period.

The coefficient shows how many times during the analyzed period, the funds in the accounts and in the cash desk of the organization have made revolutions.

2011: Co.ds = 204403/7723 = 26.4 times

2012: Co.ds = 257446 / 10393.5 = 24.8 times

The period of the turnover of funds shows the period from the moment the money is received to the current account of the enterprise until the moment of their disposal.

2011: Thus, ds = 90 / 26.4 = 7723 * 90/204403 = 3.4 days

2012: To.ds = 90 / 24.8 = 10393.5 * 90/257446 = 3.6 days.

1.3.4 Analysis of the turnover of current assets

The financial position of an enterprise, its solvency and liquidity are directly dependent on how quickly the funds invested in assets turn into real money. The growth of non-payments complicates the rhythmic activity of the enterprise and leads to an increase in accounts receivable. At the same time, excessive diversion of funds into inventories, work in progress and finished goods leads to the death of resources and inefficient use of working capital.

The rate of turnover of funds depends on: the size of the annual turnover, the need for additional sources of financing and payment for them, the amount of costs associated with the possession of inventory items and their storage, etc.

To measure the turnover of current assets, a number of indicators are used (Table 8):

Average value of current assets:

For the beginning of the year:

Wed st = (18664 + 22764) / 2 = 20714 thousand rubles.

At the end of the year:

Wed st = (22764 + 31004) / 2 = 26884 thousand rubles.

Duration of one revolution in days (Tob);

Shows the average period for which funds invested in production and commercial operations are returned to economic circulation. It is calculated as the ratio of the sum of the average balance of current assets to the sum of one-day earnings for the analyzed period.

Tob. = Average value of current assets / Revenue * Days

For the beginning of the year:

Tob. = 20714/204403 * 90 = 9.12 days

At the end of the year:

Tob. = 26884/257446 * 90 = 9.4 days

Funds turnover ratio (Cob);

It characterizes the size of the volume of proceeds from the sale of products per one ruble of current assets, as well as the number of revolutions. The growth of the turnover ratio indicates a more efficient use of working capital.

Co.ob.a. = Revenue / Average value of current assets

For the beginning of the year:

Co.ob.a. = 204403/20714 = 9.87 times.

At the end of the year:

Co.ob.a. = 257446/26884 = 9.58 times.

Loading (fixing) factor of funds in circulation;

Characterizes the amount of working capital advanced for one ruble of proceeds from the sale of products. The lower the load factor, the more efficiently the working capital is used.

Kz. = Average value of current assets / Revenue

For the beginning of the year:

Kz. = 20714/204403 = 0.1

At the end of the year:

Kz. = 26884/257446 = 0.1

The amount of released (-), additionally involved (+) working capital.

The economic effect as a result of accelerated asset turnover is expressed in the relative release of funds from circulation, as well as in an increase in the amount of profit. The amount of funds released from circulation due to the acceleration of turnover (-? OS) or additionally attracted funds into circulation (+? OS) with a slowdown in turnover is determined by multiplying the actual one-day sales turnover by the change in the duration of one turnover in days:

OS = (Tob1 - Tob0) * Vr1 / D,

where Tob1, Tob0 - respectively, the duration of one turnover of working capital for the reporting and previous periods, days;

Вр1 - revenue (net) from the sale of products for the reporting period, p.

OS = (9.4-9.12) * 257446/90 = 800.9

OS = 800.9 * 360 = 288324 (per year)

The increase (decrease) in the amount of profit can be calculated by multiplying the relative increase (decrease) in the turnover ratio by the amount of profit from the sale of products for the base (previous) period:

P = P0 *? Kob,

where Po is the amount of profit for the base (previous) period, rubles;

Kob is the coefficient of the relative increase (decrease) in the number of revolving assets:

Cob = [(Cob1 - Cob0) / Cob0],

where Kob1, Kob0 are the turnover rates for the reporting and previous periods.

Cob = 9.58-9.87 / 9.87 = -0.03

P = 204403 * (- 0.03) = -6114.09

Talitsa 8. Analysis of the efficiency of using current assets

Index	Meaning
	previous period 2011	reporting period 2012	Change
Revenue (net) from the sale of goods, products, works, services
Average cost of current assets, thousand rubles
Number of days in the analyzed period
Duration of one turnover, days
Working capital turnover ratio (number of revolutions)
Loading (securing) factor of working capital
Amount of released (-), additionally involved (+) working capital, thousand rubles

After analyzing the table, we can say the following. Net revenue increased by 53,043 thousand rubles, and the average value of current assets in the reporting period amounted to 26884 thousand rubles.

Thus, for the analyzed period, there is a 9.58 turnover of working capital, that is, per one ruble of working capital, there are 9.58 rubles. proceeds from the sale of products. The duration of one turnover is 9.4 days, which means that, on average, during this period, the funds invested in production and commercial operations are returned to economic turnover. The working capital utilization ratio shows that 0.1 kopeck of working capital is advanced for 1 ruble of proceeds from product sales.

As a result of the activity of the enterprise, the amount of the involved circulating assets arises, due to the decrease in the circulating assets turnover.

2. Analysis of the capital (sources of financing) of the enterprise

The liabilities of the balance sheet represent the sources of financing of the enterprise's activities: equity and reserves ( section III), long-term liabilities (section IV), short-term liabilities (section V).

The reasons for the increase (decrease) in the property of the enterprise are established by studying changes in the composition of the sources of its formation. Receipt, acquisition, creation of property can be carried out at the expense of own and borrowed funds.

In world practice, it is advisable to acquire circulating material assets through short-term loans, since circulating assets should bring more income than payment for a loan. Having received borrowed funds at a lower percentage than the profitability of the enterprise, you can increase the return on equity. Consequently, the financial position of the enterprise largely depends on how optimal the ratio of equity and borrowed capital is.

The sources of own funds are the authorized, additional and reserve capital, retained earnings, etc. The amount of uncovered loss is also reflected in the own sources of funds, the amount of which reduces the total amount of equity capital.

The sources of borrowed funds include long-term and short-term loans and borrowings, accounts payable.

The ratio of borrowed funds to own funds shows how much borrowed funds the company has attracted for one ruble of its own funds invested in assets. An increase in the value of the coefficient for the reporting period indicates an increase in the dependence of the enterprise on the attraction of borrowed funds and a decrease in its financial stability.

The higher this ratio, the more loans the company has and the more risky the situation, which can ultimately lead to bankruptcy. High level the coefficient also reflects the potential danger of a cash deficit in the organization.

The assessment of the dynamics of the composition and structure of sources, equity and borrowed funds is carried out according to the balance sheet data in Table 9.

Table 9. Assessment of own and borrowed funds invested in the property of the enterprise

Liabilities clause	Meaning
	at the beginning of the period	at the end of the period	Change

1. Sources of funds of the enterprise, total
Including:
1.1. Own funds, total:
Including:
III. CAPITAL AND RESERVES
Including:
Authorized capital
Undestributed profits
Total for Section III
1.2. Borrowed funds, total
Including:
IV. LONG TERM DUTIES
Borrowed funds
Total for Section IV
V. SHORT-TERM COMMITMENTS
Accounts payable
Total for Section V
2. The ratio of borrowed and own sources

According to table 9, the value of the property of the enterprise increased by 8059 thousand rubles. (or 34.45%). This is due to an increase in own funds of 2293 thousand rubles. (or by 26.09%) and borrowed funds for 5766 thousand rubles. (or 39.48%).

The growth of own funds was due to an increase in retained earnings by 2293 thousand rubles. (or 26.34%).

Borrowed funds are represented by long-term and short-term loans. In the reporting period, there was a growth trend. urgent commitments, namely, an increase in accounts payable by 5766 thousand rubles. (or by 39.48%), while there are no long-term liabilities at the enterprise.

The ratio of borrowed funds to equity, by the end of the reporting period, increased by 0.18 (or 10.61%) and became equal to 1.84. This indicates an increase in the company's dependence on borrowed funds. At the same time, the ratio of borrowed funds to equity, equal to 1.84, indicates that the company has enough own funds.

Rice. 6. The structure of sources of funds of the enterprise

2.1 Analysis of equity capital

A prerequisite successful work the enterprise is the presence of its own working capital, which can be used to purchase inventories, maintain work in progress, make short-term financial investments in securities and for other purposes of ensuring production and economic and commercial activities enterprises. Lack of such funds forces the company to turn to borrowed sources.

The value of own circulating assets (SOS) is defined as the difference between the sum of sources of own funds (IC) and their value, which was aimed at the formation of immobile property (VA):

SOS = SK - VA.

The calculation of own circulating assets is presented in table 10.

As a rule, long-term loans and borrowings are used to purchase fixed assets and other non-current assets, therefore they are equated to sources of own funds.

Table 10. Calculation of the availability of own working capital

As can be seen from table 10, the value of own circulating assets (SOS) increased by 2474 thousand rubles. (or 30.33%). This happened due to an increase in the sources of own funds by 2293 thousand rubles. (or by 26.09%), while the cost of non-current assets decreased by 181 thousand rubles. (or 28.73%).

2.2 Analysis of debt capital

Borrowed sources of financing of the enterprise. Basically, they are represented by accounts payable, so it is necessary to study its composition and structure, as well as the changes that have occurred in it.

Table 11. Analysis of accounts payable

Accounts payable type	Meaning
	at the beginning of the period	at the end of the period	change

Accounts payable, total:
Including:
Suppliers and contractors (60.76)
Debts to the staff of the organization
Debt on taxes and duties
Other lenders

As can be seen from table 11, the company has a tendency of growth of accounts payable by 5766 thousand rubles. (or 39.48%) compared to the beginning of the period. This is due to an increase in debt to suppliers and contractors by 6872 thousand rubles. (or by 88.34%), as well as an increase in the company's debts for taxes and fees by 358 thousand rubles. (or 78.51%).

There was also a decrease in debt to the organization's personnel by 88 thousand rubles. (or by 11.67%) and a decrease in debt to various creditors by 1376 thousand rubles. (or by 24.5%).

Table 12. Analysis of receivables

Accounts receivable type	Meaning
	at the beginning of the period	at the end of the period	Change

Accounts receivable, total
Including:
Settlements with buyers and customers
Advances paid (60.76)
Other debtors

During 2011, there was an increase in accounts receivable by 1,766 thousand rubles. (or 13.82%). This was due to an increase in debt from buyers and customers by 1,056 thousand rubles. (or by 9.65%), as well as an increase in the amount of advances issued by 956 thousand rubles. (or by 09.38%), while there was a decrease in debt from other debtors by 246 thousand rubles. (or by 25.52%).

2.3 Comparative analysis of receivables and payables

property current asset balance

In the process of production and economic activities, the company purchases raw materials, materials, other supplies, as well as the sale of products and the provision of works and services. If the services rendered are made on a post-payment basis, then in this case we can talk about the enterprise receiving a loan from its suppliers and contractors. At the same time, the enterprise itself acts as a creditor for its buyers and customers, as well as suppliers in terms of advances issued to them for the forthcoming delivery of products. In these conditions, it is necessary to monitor the ratio of receivables and payables.

The excess of accounts receivable over accounts payable means the diversion of funds from the economic turnover and in the future may lead to the need to attract expensive bank loans and loans to ensure the current production and economic activities of the enterprise. A significant excess of accounts payable over accounts receivable poses a threat to the financial stability of the enterprise.

Table 13. Analysis of receivables and payables

	Receivables	Accounts payable	Excess debt
			accounts receivable	creditor
Balance at the beginning
End balance
Average value
Growth rate, %
Turnover ratio, times
Maturity period, days

In the reporting period, accounts payable exceed accounts receivable by 1826 thousand rubles, and have more a long period repayment. This indicates that the company currently has sources of coverage of receivables.

Rice. 7. Structure of accounts receivable and payable

3. Analysis of the financial situation of the enterprise

3.1 Analysis of liquidity and solvency of the enterprise

Market conditions of management oblige the enterprise at any time to be able to pay off external liabilities (to be solvent) or short-term liabilities (to be liquid).

The information base for assessing the solvency and liquidity of an enterprise is the balance sheet.

The general solvency of the enterprise is the ability to fully cover long and short-term liabilities with the available current assets.

Distinguish between current and long-term solvency. Long-term solvency is understood as the ability of an enterprise to pay off its long-term obligations. The ability of an enterprise to pay for its short-term obligations characterizes the current solvency.

The liquidity of an enterprise is the sufficiency of cash and other funds to pay debts at the current moment. The level of liquidity depends on the field of activity, the ratio of current and non-current assets, the size and urgency of payment of obligations.

The liquidity of the balance sheet is the degree of coverage of the company's liabilities by assets, the period of conversion of which into cash corresponds to the maturity of the liabilities. Balance sheet liquidity is achieved by establishing equality between the company's liabilities and its assets.

Asset liquidity is the reciprocal of the time it takes to turn assets into money, respectively, the shorter this time, the higher the liquidity of assets.

In general, liquidity analysis is an analysis of the ability of assets to transform into cash. Analysis of balance sheet liquidity is a comparison of funds for an asset, grouped in descending order of liquidity, with liabilities for liabilities, grouped by maturity and arranged in ascending order of maturity.

The following groups of assets are distinguished, depending on the degree of their liquidity, and groups of liabilities, formed according to the degree of urgency of their payment (Table 14).

A1 - Most liquid assets;

A2 - Quickly realizable assets;

A3 - Slowly traded assets;

A4 - Hard-to-sell assets;

P1 - Most urgent obligations;

P2 - Short-term liabilities;

P3 - Long-term liabilities;

P4 - Permanent liabilities.

Table 14. Groups of assets and liabilities

Balance item	At the beginning of the period	At the end of the period
Cash and cash equivalents
Receivables

Fixed assets
Accounts payable


Capital and reserves

Table 15. Data for analysis of balance sheet liquidity

	At the beginning of the period	At the end of the period	Change, thousand rubles	Change, %
The most liquid assets A1
Quick-selling assets A2
Slowly traded assets A3
Hard-to-sell assets A4


Most urgent obligations P1
Short-term liabilities P2
Long-term liabilities P3
Permanent liabilities P4

The balance is considered absolutely liquid if the following ratios are simultaneously fulfilled:

A1P1, A2P2, A3P3, A4P4.

The data in Table 15 indicate that in the reporting period the enterprise did not have absolute liquidity, but had good indicators and was liquid. Since at the end of the year, cash (A1) is less than accounts payable (P1). But at the same time, inequality is fulfilled: accounts receivable (A2) are more than short-term liabilities (P2), stocks (A3) are more long-term liabilities (P3) and non-current assets (A4) are less than equity (P4).

In order to deepen and detail the analysis, to confirm the correctness of the conclusions, a system of financial ratios is used. They are determined by the ratio of certain balance sheet items, as well as the positions of the income statement.

Since the degree of conversion of current assets into cash is not the same, liquidity ratios are calculated to compare liquid assets and liabilities, which show what part of short-term liabilities the company can repay if specific types of working capital are converted into money.

For this, financial ratios are calculated (Table 16):

General indicator of balance sheet liquidity:

Shows the ratio of the sum of all liquid assets of an enterprise to the sum of all payment obligations, provided that various groups of liquid assets and payment obligations are included in the indicated amounts with certain weights that take into account their significance in terms of the timing of receipt of funds and repayment of obligations

L1 = (A1 + 0.5A2 + 0.3A3) / (P1 + 0.5P2 + 0.3P3)

At the beginning of the period:

L1 = (7449 + 0.5 * 12780 + 0.3 * 2535) / (14606 + 0.5 * 0 + 0.3 * 0) = 1

At the end of the period:

L1 = (13338 + 0.5 * 14546 + 0.3 * 3120) / (20372 + 0.5 * 0 + 0.3 * 0) = 1.06

Absolute liquidity ratio:

Shows what part of accounts payable the company can pay off in the near future at the expense of cash and short-term securities:

L2 = A1 / (P1 + P2)

At the beginning of the period:

L2 = = 7449 / (14606 + 0) = 0.51

At the end of the period:

L2 = = 13338 / (20372 + 0) = 0.65

The coefficient at the end of the reporting period is 0.65 points and shows that by the end of the year 65% of short-term liabilities can be repaid at the expense of the enterprise's funds. If we compare the value of the indicator with the recommended value, then it can be noted that the company has no shortage of cash to cover current liabilities.

Quick liquidity ratio:

Shows how much the enterprise's liquid funds cover its short-term debt:

L3 = (A1 + A2) / (A1 + A2)

At the beginning of the period:

L3 = (7449 + 12780) / (14606 + 0) = 1.38

At the end of the period:

L3 = (13338 + 14546) / (20372 + 0) = 1.37

The ratio at the end of the reporting year shows that short-term liabilities were covered by cash (accounts receivable) by 137%. The value of the coefficient is outside the norm and indicates that the amount of liquid assets of the enterprise is more than necessary.

Current liquidity ratio:

Shows whether the company has enough working capital that can be used to pay off its short-term liabilities during the period. This is the main indicator of the company's solvency:

L4 = (A1 + A2 + A3) / (A1 + A2)

At the beginning of the period:

L4 = (7449 + 12780 + 2535) / (14606 + 0) = 1.56

At the end of the period:

L4 = (13338 + 14546 + 3120) / (20372 + 0) = 1.52

In world practice, the value of this coefficient should be in the range of 1-2. Naturally, there are circumstances in which the value of this indicator may be higher, however, if the current liquidity ratio is more than 2-3, this, as a rule, indicates the irrational use of the enterprise's funds. The value of the current liquidity ratio below one indicates the insolvency of the enterprise.

The current liquidity ratio for the reporting period is 1.52 points and is included in the recommended value. It can be concluded that the company can fully cover short-term liabilities with liquid assets.

Functioning capital flexibility ratio:

Shows what part of the functioning capital is immobilized in inventories and long-term receivables:

L5 = A3 / [(A1 + A2 + A3) - (A1 + A2)]

At the beginning of the period:

L5 = 2535 / (7449 + 12780 + 2535-14606) = 0.31

At the end of the period:

L5 = 3120 / (13338 + 14546 + 3120-20372) = 0.29

During 2011, the coefficient of maneuverability of the functioning capital decreased and became equal to 0.29, which is a positive result.

Share of working capital in assets:

Depends on the industry sector of the enterprise:

L6 = (A1 + A2 + A3) / ВБ, where ВБ - Balance currency;

At the beginning of the period:

L6 = (7449 + 12780 + 2535) / 23394 = 0.97

At the end of the period:

L6 = (13338 + 14546 + 3120) / 31453 = 0.99

The coefficient shows that at the end of the reporting period, the share of circulating assets from the balance sheet total is 0.99 or 99%.

Consequently, the share of non-current assets is 0.01 or 1%

Equity ratio:

Characterizes the availability of working capital necessary for the financial stability of the enterprise:

L7 = (A4 - A4) / (A1 + A2 + A3).

At the beginning of the period:

L7 = (8788-630) / (7449 + 12780 + 2535) = 0.36

At the end of the period:

L7 = (11081-449) / (13338 + 14546 + 3120) = 0.34

The equity ratio equal to 0.34 shows that 34% of current assets are financed from the organization's own funds.

Table 16. Solvency liquidity ratios

Coefficient	At the beginning of the period
	General solvency ratio
	Absolute liquidity ratio	L2> = 0.1-0.7
	Quick liquidity ratio
	Current liquidity ratio	L4min = 0.2 L4 = 2.5-3
	Functioning capital flexibility ratio	A decrease in the indicator in dynamics is a positive fact
	Share of working capital in assets
	Equity ratio

Various liquidity indicators not only characterize the stability of the financial condition of the organization when different methods accounting for liquidity of funds, but also meet the interests of various external users of information.

3.2. Factor analysis of current liquidity

Using the method of chain substitutions, the influence of changes in groups of assets and liabilities on the value of the current liquidity ratio is determined.

For 2011:

Ktl0 = (A10 + A20 + A30) / (P10 + P20) = (7449 + 12780 + 2535) / 14606 = 1.558

For 2012:

Ktl1 = (A11 + A21 + A31) / (P11 + P21) = (13338 + 14546 + 3120) / 20372 = 1.521

KtlA1 = (A11 + A20 + A30) / (P10 + P20) - 1.558 =

= (13338+12780+2535) / 14606 - 1,558 = 1,961 - 1,558 = 0,403

KtlA2 = (A11 + A21 + A30) / (P10 + P20) - 1.961 =

= (13338+14546+2535) / 14606- 1,961 = 2,082 - 1,961 = 0,121

KtlA3 = (A11 + A21 + A31) / (P10 + P20) - 2.082 =

= (13338+14546+3120) / 14606 -2,082 = 2,122 - 2,082 = 0,04

KtlP1 = (A11 + A21 + A31) / (P11 + P20) - 2.122 =

= (13338+14546+3120) / 20372 - 2,122 = 1,521 - 2,122 = -0,601

Let's check the received data:

Ktl0 = Ktl1 - Ktl0 = 1.521 - 1.558 = -0.037

KtlA1 +? KtlA2 +? KtlA3 +? KtlP1 = 0.403 + 0.121 + 0.04 - 0.601 =

It can be concluded that an increase in the most urgent liabilities - accounts payable (P1) had a negative impact on the growth of the current liquidity ratio.

3.3 Financial soundness analysis

Each type of enterprise property has its own source of funding. The sources of financing for non-current assets, as a rule, are equity and long-term borrowed funds. The greater the proportion of own funds invested in long-term assets, the more stable the financial condition of the enterprise.

Current assets are formed at the expense of equity and at the expense of short-term loans, borrowings and accounts payable. If current assets are formed at the expense of equity capital, and half - at the expense of borrowed capital. A guarantee of repayment of external debt is provided.

If an enterprise lacks its own working capital necessary to acquire stocks, cover costs and carry out other expenses associated with the organization of a continuous production and commercial process, it is forced to attract borrowed capital, increasing financial dependence on lenders and other external sources of financing.

The financial stability of the enterprise is characterized by financial independence from external borrowed sources, the ability of the enterprise to maneuver financial resources, the availability of the necessary amount of its own funds to ensure the main activities.

The stability of the financial condition is assessed by a system of absolute and relative indicators by means of the ratio of borrowed and own funds for individual items of the asset and liability of the balance sheet.

High financial dependence on external sources of financing can lead to the loss of the company's solvency. Therefore, the assessment of financial stability is an important task of financial analysis.

The most generalized indicator of financial stability is the surplus or lack of sources of funds for the formation of stocks and costs, that is, the difference between the size of the sources of funds and the amount of stocks and costs. This refers to the provision of sources of own and borrowed funds, with the exception of accounts payable and other liabilities.

Analysis and diagnostics of the economic activity of the enterprise. Analysis and diagnostics of the financial and economic activities of the enterprise section. In the development of this direction, an analysis of various financial liquidity ratios and capital structure is carried out.

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Introduction

In modern economic conditions, the activity of each economic entity is the subject of attention of a wide range of market participants interested in the results of its functioning.

The analysis of economic activity, assessment of its effectiveness is an important element in the management system.

The main goal of this work is to show how, on the basis of calculations of economic indicators, to investigate the financial and economic condition of an economic entity and, using an illustrative example (JSC "Yurgakhleb"), to analyze the activities of the company.

The work consists of an introduction, two main sections, a conclusion, a bibliography and annexes.

In this course work, an attempt is made to systematize and comprehensively present the studied material on the topic under consideration.

1 Organizational and economic characteristics of the enterprise OJSC "Yurgakhleb" and theoretical provisions of financial and economic analysis

1.1 Organizational and economic characteristics of the enterprise OJSC "Yurgakhleb"

The enterprise OJSC "Yurgakhleb" was founded on March 29, 2000. From the very first days of the existence of the enterprise, the task of management was to create a truly strong, efficient and competitive structure aimed at long-term development.

The head office of the Company is located in Novokuznetsk, where the most important strategic decisions regarding the further development of the business are made, and the center of financial flows is also located here.

The production facilities of the enterprise, equipped with the most modern equipment, are concentrated in the Novosibirsk and Kemerovo regions. Their smooth operation is based on advanced technologies and invaluable experience of highly qualified personnel.

For 15 years, OJSC "Yurgakhleb" has turned into an enterprise with a developed production cycle, a system of shipment and delivery of marketable products to the consumer.

Its main activity is the production and sale of office furniture. The current state of JSC "Yurgakhleb" for 2011-2012 presented in Appendix

So, the current state is represented by the structure of the asset, liability, property, its sources, the structure of reserves and costs, as well as the dynamics of the level of profit for 2011 and 2012.

The Company annually increases its production output by 10-20%. Significantly outstripping the average rate of economic development of enterprises in Russia.

Throughout its existence, the company has produced various types of goods that require new ways of developing logistics and sales.

The achievements of the Company are highly appreciated by professionals both in our country and abroad.

The production successes achieved by JSC Yurgakhleb in recent years are largely the result of the use of the most advanced technologies. The company cooperates with leading research institutes and uses modern Western experience.

Today 738 people work at Yurgakhleb OJSC. Their knowledge, skill, professionalism and dedication have helped the company to take a leading position in its field.

The company is managed by a team of professional managers who skillfully use progressive management methods and new approaches to development in new market conditions.

The experience of lawyers in ensuring legitimacy in the activities of the Company is invaluable. Legal department employees provide legal protection of the organization's interests; conduct contractual, claim and claim work.

The experience of the managerial staff, professionalism and energy of all employees make the company one of the most progressive companies on the Russian market.

OJSC "Yurgakhleb" consistently implements projects that ensure its sustainable long-term growth. The main task is to create a modern industrial company that meets the requirements of the time.

The main indicators of the enterprise are presented in Appendix 1.

1.2 Characteristics of the concept of financial condition, goals and objectives of its analysis

An enterprise is an independent economic entity created to conduct economic activities, which are carried out in order to generate profits and meet social needs.

Therefore, financial analysis is an essential element of financial management and audit. Almost all users of financial statements of enterprises use financial analysis methods to make decisions to optimize their interests.

the structure of the capital of the enterprise for its placement to the sources of education;

the effectiveness and intensity of its use;

the solvency and creditworthiness of the enterprise;

stock of its financial stability.

generally accepted “norms” for assessing the degree of risk and predicting the possibility of bankruptcy;

similar data from other enterprises, which allows you to identify the strengths and weaknesses of the enterprise and its capabilities;

similar data for previous years to study the trend of improvement or deterioration in the financial condition of the enterprise.

The main tasks of the analysis:

timely identification and elimination of shortcomings in financial activities, and the search for reserves to improve the financial condition of the enterprise, its solvency;

forecasting possible financial results, economic profitability, based on the real conditions of economic activity and the availability of own and borrowed resources, the development of models of financial condition with a variety of options for using resources;

development of specific measures aimed at more efficient use of financial resources and strengthening the financial condition of the enterprise.

But not only time boundaries determine the alternatives of the goals of financial analysis. They also depend on the goals of the subjects of financial analysis, i.e. specific users of financial information.

The financial analysis methodology consists of three interrelated blocks:

1) analysis of the financial results of the enterprise;

2) analysis of the financial condition;

3) analysis of the effectiveness of financial and economic activities.

1.3 Indicators of the analysis of economic activity

The subject of the analysis of economic activity is the economic processes and the final results of the enterprise, occurring under the conditions of the action of objective and subjective factors and are reflected in the system of economic information.

The subjects of analysis, both directly and indirectly, are interested users of information. The direct users are the owners of the enterprise funds, banks, suppliers, tax authorities, enterprise personnel and management.

The second group of users is the subjects of analysis who are not directly interested in the activities of the enterprise, but must, by contract, protect the interests of the first group of users of the reporting (for example, audit services).

The economic activity of an enterprise, even a single indicator, can be influenced by numerous and varied reasons. It is very difficult to identify and study the effect of absolutely all causes, and besides, it is not always practically expedient.

The analysis of certain indicators of economic phenomena, processes, situations begins with the use of absolute values ​​(volume of production in value and in kind, volume of goods turnover, the sum of production costs and distribution costs, etc.)

In the analysis, absolute values ​​are used to a greater extent as a basis for calculating average and relative values.

Relative values ​​are indispensable in the analysis of phenomena in dynamics. These include coefficients, percentages, indices that reveal the analytical characteristics of phenomena: their frequency or intensity, changes in phenomena in time or space, etc.

Economic activity is characterized by a relatively small range of indicators. (Fig. 1 - Appendix 1)

1.4 Financial analysis

Analysis is one of the most important functions of any enterprise management. Efficiency analysis is a part of this function and its role in a market economy is very significant.

The objectives of the analysis are:

- assessment of the current and future state of the enterprise;

- assessment of the possible and expedient pace of development of the enterprise from the standpoint of their financial support;

- identification of available sources of funds and assessment of the possibilities and feasibility of their mobilization.

As a result of the analysis of efficiency, a number of reserves are determined, the introduction of which makes it possible to increase the efficiency and effectiveness of the enterprise.

The basis for the information support of the analysis is the financial statements: form No. 1 "Balance", form No. 2 "Report on financial results".

The analysis of the efficiency of economic activity includes several stages (Fig. 2 - Appendix 2).

At the second stage, the analysis of profit as a financial result of the economic activity of the enterprise and various indicators of profitability is carried out.

In the development of this direction, an analysis of various financial liquidity ratios and capital structure is carried out. They are calculated to determine the ability of the company to repay its debt and open reserves at the level of individual components of the company's capital.

1.5 Assessment of the profitability of an enterprise and the efficiency of using its economic potential

The final financial result of the economic activity of the enterprise is the balance sheet profit. Balance sheet profit is the sum of the profit (loss) of the enterprise both from the sale of products and income (losses) not related to its production and sale.

To assess the efficiency of the enterprise, profit is compared with costs or resources used. Weighing profit against cost means profitability. In the practice of enterprises, a number of profitability indicators are used:

The profitability of production assets is calculated as the ratio of the profit to the average annual cost of fixed assets.

The return on investment in an enterprise is determined by the value of the property at its disposal. The profitability of the company's own funds is determined by the ratio of profit to its own funds, determined by the balance sheet.

Having examined the theoretical foundations of economic and financial analysis, as well as the formulas for calculating economic indicators, it is possible to analyze and diagnose a specific economic entity using the example of JSC Yurgakhleb.

enterprise production financial analysis

2 Analysis of production and economic activities and financial condition of the enterprise of JSC "Yurgakhleb" for 2012

2.1 Analysis of production and sales of products

2.1.1 Analysis of the dynamics of production and sales of products

The results of the analysis are summarized in table. 1 and draw conclusions.

Table 2.1.1 - Production and sales of products, thousand rubles

Indicators in comparable prices are calculated as the actual volume of production in prices of the base period.

2.1.2 Analysis of the level of development of production capacity

The results of the analysis are summarized in table. 2.1.2 and draw conclusions.

The analysis of certain indicators of economic phenomena, processes, situations begins with the use of absolute values (volume of production in value and in kind, volume of goods turnover, the sum of production costs and distribution costs, etc.)

In the analysis, absolute values are used to a greater extent as a basis for calculating average and relative values.

Relative values are indispensable in the analysis of phenomena in dynamics. These include coefficients, percentages, indices that reveal the analytical characteristics of phenomena: their frequency or intensity, changes in phenomena in time or space, etc.