The financial analysis. The concept of the financial and economic activity of an enterprise What is financial activity

Financial Analysis: What Is It?

The financial analysis is the study of the main indicators financial condition and the financial results of the organization's activities in order to make management, investment and other decisions by stakeholders. Financial analysis is part of a broader term: financial analysis economic activity enterprises and economic analysis.

In practice, financial analysis is carried out using MS Excel tables or special programs. In the course of the analysis of financial and economic activities, both quantitative calculations of various indicators, ratios, coefficients, and their qualitative assessment and description, comparison with similar indicators of other enterprises are made. Financial analysis includes an analysis of the assets and liabilities of the organization, its solvency, liquidity, financial performance and financial sustainability, analysis of asset turnover (business activity). Financial analysis allows you to identify such important aspects as the possible likelihood of bankruptcy. Financial analysis is an integral part of the activities of such specialists as auditors, appraisers. Banks are actively using financial analysis when deciding the issue of granting loans to organizations, an accountant in the course of preparing an explanatory note for annual reporting, and other specialists.

Fundamentals of Financial Analysis

The basis of financial analysis is the calculation of special indicators, often in the form of coefficients that characterize one or another aspect of the financial and economic activities of the organization. Among the most popular financial ratios the following can be distinguished:

1) The coefficient of autonomy (the ratio of equity to the total capital (assets) of the enterprise), the ratio of financial dependence (the ratio of liabilities to assets).

2) Current liquidity ratio (ratio current assets to short-term liabilities).

3) Rapid liquidity ratio (the ratio of liquid assets, including cash, short-term financial investments, short-term receivables, to short-term liabilities).

4) Return on equity (the ratio of net profit to own capital enterprises)

5) Profitability of sales (the ratio of profit from sales (gross profit) to the company's revenue), by net profit (the ratio of net profit to revenue).

Financial analysis techniques

The following methods of financial analysis are commonly used: vertical analysis (for example), horizontal analysis, trend-based predictive analysis, factorial and other analysis methods.

Among the legislatively (normatively) approved approaches to financial analysis and methods, the following documents can be cited:

Order of the Federal Office for Insolvency (Bankruptcy) of 12.08.1994 N 31-r
Resolution of the Government of the Russian Federation of June 25, 2003 N 367 "On Approval of the Rules for Conducting Financial Analysis by an Insolvency Trustee"
Regulation of the Central Bank of Russia dated June 19, 2009 N 337-P "On the procedure and criteria for assessing the financial position legal entities- founders (participants) of a credit institution "
Order of the FSFR RF of January 23, 2001 N 16 "On approval" Methodical instructions on the analysis of the financial condition of organizations "
Order of the Ministry of Economy of the Russian Federation of 01.10.1997 N 118 "On approval Methodical recommendations on the reform of enterprises (organizations) "

It is important to note that financial analysis is not just about calculating various indicators and ratios, comparing their values in statics and dynamics. As a result qualitative analysis there must be a reasoned, calculated conclusion about the financial position of the organization, which will become the basis for decision-making by management, investors and other interested parties (see example). It was this principle that served as the basis for the development of the program "Your Financial Analyst", which not only prepares a full report on the results of the analysis, but also does it without the participation of the user, without requiring him to have knowledge of financial analysis - this greatly simplifies the life of accountants, auditors, economists ...

Sources of information for financial analysis

Often interested persons do not have access to the internal data of the organization, therefore, the organization's public accounting statements are the main source of information for financial analysis. The main reporting forms - the Balance Sheet and the Profit and Loss Statement - make it possible to calculate all the main financial indicators and coefficients. For more in-depth analysis, you can use traffic reports Money and the capital of the organization, which are compiled at the end of the financial year. An even more detailed analysis of individual aspects of an enterprise's activities, for example, calculating a break-even point, requires initial data that lies outside the reporting (data of current accounting and production accounting).

For example, you can get a financial analysis based on your Balance Sheet and Profit and Loss Statement for free online on our website (both for one period and for several quarters or years).

Altman Z-model (Altman Z-score)

Altman Z-model(Altman Z-Score) is financial model(formula), developed by the American economist Edward Altman, designed to predict the likelihood of bankruptcy of an enterprise.

Enterprise analysis

Under the expression " enterprise analysis"usually means financial (financial and economic) analysis, or a broader concept, the analysis of the economic activity of an enterprise (AHD). Financial analysis, the analysis of economic activity refers to microeconomic analysis, that is, the analysis of enterprises as separate entities economic activity(as opposed to macroeconomic analysis, which involves the study of the economy as a whole).

Economic Activity Analysis (AHD)

Through business analysis organizations study general trends in the development of the enterprise, investigate the reasons for changes in the results of activities, develop and approve plans for the development of the enterprise and accept management decisions, control over the implementation of approved plans and decisions taken, reserves are identified in order to increase production efficiency, the results of the firm's activities are assessed, and an economic strategy for its development is worked out.

Bankruptcy (Bankruptcy Analysis)

Bankruptcy, or insolvency- this is the inability of the debtor recognized by the arbitration court to fully satisfy the claims of creditors for monetary obligations and (or) to fulfill the obligation to pay mandatory payments. The definition, basic concepts and procedures related to the bankruptcy of enterprises (legal entities) are contained in the Federal Law of 26.10.2002 N 127-FZ "On Insolvency (Bankruptcy)".

Vertical analysis of reporting

Vertical analysis of reporting- technique analysis financial statements, in which the ratio of the selected indicator with other homogeneous indicators is studied within one reporting period.

Horizontal analysis of reporting

Horizontal analysis of reporting- This comparative analysis financial data for a number of periods. This method is also known as trend analysis.

The need to use finance has led to the implementation by the state and municipalities of special, namely, financial activities. In the course of financial activities, a systematic and purposeful education is carried out, the distribution and use of state and municipal centralized and decentralized monetary funds.

So, financial activities of the state - this is the implementation by him of the functions of systematic education, distribution and use of funds in order to implement the tasks of socio-economic development, ensure the country's defense and security, as well as use financial resources for the activities of state bodies.

Fin. activity municipalities carried out through the organs local government, is aimed at solving problems of local importance, determined by the legislation on local self-government. It represents the implementation of functions for the planned education, distribution and use of munits. den. funds for the implementation of socio-economic tasks of local importance and the provision of financial resources for the activities of local governments.

The financial activity of public authorities and local self-government bodies is associated with a general focus on the needs of society, is of a public nature, although it differs in specific tasks. The main, defining goal of this activity should be, in accordance with the Constitution of the Russian Federation (part 1 of article 7), the creation of conditions that ensure a dignified life and free development of a person.

The implementation of effective financial activities of the state is a factor necessary for the implementation of a fair social policy, which, in the context of the transition to market economy requires the elimination of the negative aspects of the latter.

By means of fin. activities the material basis necessary for the functioning of state bodies is being created. power and management, law enforcement. bodies, ensuring the country's defense and security.

Impact of the state and municipalities on socio-economic processes is carried out not only in the form of direct financial support, allocation of funds for certain plans, programs, etc., but also indirectly - through the provision of tax incentives, the use of low interest rates for lending or the provision of interest-free loans, tax deferrals, etc. in order to stimulate any activity recognized by the state as a priority. Conversely, restrictive measures can be applied.

Fin. activity affects the development of federative relations and local government. An important aspect of it is the distribution of fin. resources between fed. bodies and subjects of the Federation, as well as municipalities. entities, which is important for the regulation and coordination of production and the development of the socio-cultural sphere throughout Russia, as well as the corresponding territorial levels. Regional policy in the Russian Federation should be aimed at leveling the conditions for the socio-economic development of regions while creating a single economic space.

As part of a mechanism government controlled and regulation of socio-economic processes, financial activity contains ample opportunities to influence the development of market relations.

When characterizing the financial activities of the Russian Federation on the present stage it is important to note that it is carried out in the context of economic cooperation with the CIS countries. At the same time, Russia proceeds from the tasks of strengthening and developing equal and mutually beneficial economic relations with these states, and developing integration relations with them. To regulate and develop such cooperation, a special body has been created - the Ministry for the Commonwealth of Independent States. Within the CIS, there is an Interstate Economic Committee, which consists of deputy heads of government and is a permanent body of the Economic Union. Agreements are also concluded on certain issues of financial activity (for example, on the avoidance of double taxation and the prevention of tax evasion).

Foreign economic relations are also carried out by Russian Federation within the powers granted to them by the Constitution of the Russian Federation and federal legislation, as well as agreements between federal authorities authorities and constituent entities of the Russian Federation. General order coordination of these ties is established by a special federal law. The results of international and foreign economic relations are reflected in the income and expenditures of state funds of the Federation and its constituent entities.

Question 5. Basic principles of public fin. activities, their constitutional consolidation.

Fin. activities of the state and local self-government bodies. based on certain principles, i.e. on the fundamental rules and requirements that express its most essential features and purposefulness. The main content of these principles is determined by the Constitution of the Russian Federation, follows from both general provisions about the foundations of the organization and functioning of the Russian state, and those specifically related to its fin. activity, and is concretized in the norms of Fin. rights. By virtue of its content(direct to the reg-e of relations in the field of financial. activity of the state and municipalities. formations) and consolidation in the norms of financial. they are, in essence, the principles of Fin. rights. Among them are the following.

Etc. public interest priority in pr. reg-and relations in the field of fin. activities of the state and munits. formations. This principle is assumed. use of financial and legal institutions for the purposes of state. reg-I of the economy, proceeding from the generally significant tasks of the society. Ultimately, the implementation of this principle is reflected in the private interests of the individual. Particularly important is its action acquired. in crisis economics. conditions.

The principle of federalism, according to which in Fin. activities should combine federal interests with the interests of the subjects of the Federation, ensured through its necessary financial. resources for the performance of functions of common importance to the Federation as a whole.

Finnish unity politics and monetary system... The independence of the subjects of the Federation should not go beyond the foundations of the Fed. fin. policies, as well as jointly established general principles of taxation and fees. The system of taxes levied in the fed. budget, and general principles of taxation and fees, as well as the list of taxes levied in the country are established by the fed. legislation. It also enshrines the unity of the budgetary system, a single procedure for financing budget expenditures, etc. Unity financial policy and the monetary system is necessary condition the unity of the economic space in the Russian Federation guaranteed by the Constitution of the Russian Federation, free movement of funds.

Equality of subjects of the Federation in the field of fin. activity is determined by Art. 5 of the Constitution of the Russian Federation. Each of the constituent entities of the Federation is equally subject to the Fed. fin. legislation. Outside the jurisdiction of the Russian Federation and joint jurisdiction, each of the subjects of the Federation has its own legal reg-e fin. relations and independent fin. activity, approves the budget, sets taxes, etc.

Finnish independence activities of local governments guaranteed by the Constitution of the Russian Federation (Articles 12, 130-133). These bodies are guided in their activities by the legislation of the Russian Federation and acc. subject of the Federation. They are selfish. approve and execute the local budget, form and use extra-budgetary funds, establish local taxes and fees acc. with fed. legislation and legislation of the constituent entity of the Federation.

Social orientation of Fin. activities in the Russian Federation follows from the provisions of the Constitution of the Russian Federation, which characterizes the Russian Federation as a social state, the policy of which is aimed at creating a level that ensures a decent life and the free development of a person (Article 7). According to this policy, the protection of labor and health of people is provided, the establishment of a guaranteed minimum wage, etc.

Distribution of functions in the field of fin. activities on the basis of division of legislation. and will execute. authorities. The Constitution of the Russian Federation, proceeding from this principle, determines the powers of the legislator. and will execute. authorities. So, State. The Duma adopts the Federal Law (Part 1 of Art. 105), in particular, laws on Fed. budget, fed. taxes and fees, financial, currency, credit registration, money issue. The powers of the Government include the development and presentation of State. Duma of the Fed. budget and ensuring its execution, ensuring the implementation of a unified financial, credit and monetary policy (clause "b", part 1 of article 114). The distribution of functions at other levels of legislative (representative) and executive bodies is similar.

The principle of publicity... Its foundations are established by the norms of the Constitution of the Russian Federation, requiring officers. the publication of laws, which immediately applies to laws governing financial activities.

Planning principle expressed in the fact that the activities of the state and the munits. formations for the formation, distribution and use of fin. resources are implemented on the basis of fin. plans developed in accordance with the state. and local plans and programs, as well as plans of enterprises, organizations and institutions.

The principle of legality means the need for strict observance of the requirements of financial legal norms by all participants in relations arising in the process of financial. activities, including state. authorities, local self-government bodies., enterprises, organizations, uchr. and citizens. This principle follows from Art. 1 of the Constitution of the Russian Federation, which defined the Russian Federation as a legal state. It is also enshrined in other articles of the Constitution of the Russian Federation (Articles 2, 15, 57, etc.). For violations of the norms of fin. rights apply the appropriate measures of responsibility.

Question 6. Forms and methods of public financial activities.

The forms of financial activity of the state are varied. Each of them practically expresses the actions of state bodies and local self-government bodies on education, distribution and use of financial resources at the appropriate level.

By nature these forms can be legal and non-legal. Legal forms expressed in the adoption of legal acts in connection with the establishment or application of norms. Non-legal forms are instruction financial service enterprises, holding meetings in the apparatus of financial and tax authorities, meetings of committees on budgetary and financial issues of representative authorities, explaining financial legislation to the population and other organizational work; financial and technical operations (calculations of payments and allocations from budgets, volumes of financing and lending); financial and economic analysis; preparation of materials for financial planning, forecasting and reporting, etc.

They have no legal significance, but they create the preconditions for the implementation legal forms financial activities, in which the state-imperious nature of the actions of state authorities in the field of finance is manifested.

Specific legal forms of financial activity are due to the fact that it takes place in the form of activities of representative and executive authorities of all levels and organizational and legal forms.

Question 7. The concept and types of financial acts.

Carrying out financial activities, government bodies and local governments, within their competence, adopt financial and legal acts, through which, within their powers, regulate public relations in the field of accumulation, distribution and use of financial resources, control over their expenditure, over the implementation of financial plans, financial obligations to the state. It is in such acts that legal forms financial activities of the state and local governments.

So, financial and legal acts- these are accepted in the prescribed form and have legal. the consequences of the decision of the state. bodies and bodies of local government on fin. activities within their competence. They establish, change or abolish financial and legal norms or serve as the basis for the emergence, termination, change of specific legal relations.

Application one or another legal form of financial activity is determined by the meaning and content of regulated relations. For example, the adoption of fed. the budget is drawn up by the Federal Law. This follows from the national significance of the budget, its important role for the socio-economic development of the country, a wide range of public relations arising in connection with its adoption. In contrast, issues of allocation of den. funds to subordinate enterprises are decided by acts of ministries and other state bodies. management in accordance with the procedure established by legal norms.

Financial and legal acts can be classify by legal entity properties, by legal nature, by the bodies that issue them, and other grounds.

By legal properties financial and legal acts are subdivided into normative and individual ones. Regulatory acts include acts that regulate a group of homogeneous fin. relations and contain general rules the behavior of their participants, i.e. legal regulations. Hence the name of this group of acts follows - normative ... They usually work for a long time. Regulatory financial and legal acts establish the types of fin. obligations of enterprises and citizens to the state, or a municipality, the procedure for calculating established payments, typical signs of payers, the procedure for spending state. den. funds, the procedure for financial control etc.

By legal entity nature financial legal acts are subdivided into: but) legislative ones, which include the Federal Law and the laws of the constituent entities of the Federation on financial issues. activities of the state; b) by-laws. This group includes acts of all other state. bodies based on law and enacted by law

Characteristic feature financial and legal acts is the presence of a large group of financial planning acts among them. They differ from other financial and legal acts in their content. Financial planning acts - these are acts adopted in the process of fin. activities of the state and local governments, which contain specific tasks in the field of finance for certain period, i.e. are plans for the mobilization, distribution and use of financial resources.

The existence of financial planning acts is due to the action of the principle of planning in the process of education, distribution and use of financial resources in accordance with programs and plans for economic and social development.

Financial planning acts include:

a) the main financial plan of the state - the federal budget, as well as the state budgets of the constituent entities of the Federation and local budgets;

b) budgets of state and municipal extra-budgetary funds;

c) financial-credit and cash plans of banks;

G) financial plans insurance organizations;

e) financial plans and estimates of ministries, departments, other bodies of state administration and local self-government;

f) financial plans (balances of income and expenses) of enterprises and associations;

g) estimates of budgetary institutions.

Financial planning acts receive their legal registration in the acts of the relevant state and local government bodies. So, the federal budget is approved by federal law, the budget of the institution - by the ministry to which this institution is subordinate. The financial planning act approved in accordance with the established procedure regulates financial relations and causes legal implications like any financial and legal act.

Question 8.9. System and legal position state and municipal bodies carrying out fin. activity. Activities of legislative and executive authorities in the field of finance.

The peculiarity of financial activity is that it is carried out by all government bodies, depending on the competence established by them.

Administered federal representative and executive bodies state power is the establishment of the legal framework for the single market; financial, currency, credit, customs regulation; money issue; basics of pricing policy; taxes; insurance (Articles 71, 75 of the Constitution of the Russian Federation). RF President signs and publishes federal laws. Representative bodies represented by the Federal Assembly and the representative bodies of the subjects of the federation consider, discuss and approve the federal budget, the budgets of the republics that are part of the Russian Federation (Article 106 of the Constitution of the Russian Federation). Russian Government ensures the preparation of the budget and its consideration in representative bodies, carries out general management of budget execution, ensures the implementation of a unified financial credit and monetary policy, deals with other financial issues state (Art. 114 of the Constitution of the Russian Federation, Federal Constitutional Law "On the Government of the Russian Federation" dated December 17, 1997 No. 2-FKZ as amended on December 31, 1997). Representative and executive bodies subjects RF, local self-government perform functions in the field of finance in the respective territory within the limits of their competence. Government bodies of the Russian Federation and the constituent entities of the Russian Federation, performing their main tasks in a certain field of activity, simultaneously carry out financial activities that ensure the fulfillment of their main tasks and functions.

Along with government bodies that carry out financial activities in connection with the fulfillment of their main tasks and functions, state bodies have been created specifically for the implementation of financial activities: the Ministry of Finance of Russia; Federal Treasury of the Russian Federation; Ministry of the Russian Federation for Taxes and Duties; Central Bank of the Russian Federation (Bank of Russia).

Under financial activities the organization means the attraction and return of borrowed sources of financing (loans, borrowings), the issue of ordinary and preferred shares, the payment of dividends, fines, penalties, and other non-sale transactions (Fig. 7.5).
"Inflows" "Outflows"

Cash flows associated with change authorized capital, long-term and short-term loans are determined by the balance sheet data. This uses the following formula:
АPassive = Passive (i) - Passive (g - 1). G "6)
The amount of other Non-operating income (expenses) of the period is directly transferred from the income statement to the cash flow statement. Cash outflows related to the payment of interest on borrowed loans are reflected in other operating expenses, the accounting of which was mentioned in the description of investment activities.
The sum of cash inflows and outflows from core, investment and financing activities forms net cash flow. The amount of net cash flow can be viewed as the potential cash flow that the company should have based on the results of its operations.
The actual change (actual inflow) of cash is determined according to the balance sheet and is called the actual cash flow. The actual cash flow is determined as the difference between the balance sheet cash at the current and the previous reporting date. Its value shows how much in a given period of analysis the amount of funds at the disposal of the company has increased or decreased.
The difference between actual and net cash flows represents other flows, the movement of which is not tracked on the balance sheet and income statement. Negative values of other FLOWS indicate that the enterprise incurred such costs as the maintenance of facilities socially !. spheres, payment of dividends and various kinds of benefits. Positive values on the line "Other flows" can be associated, for example, with free transfers of property to the company.
Cash flow statement information will help answer the questions:
is there enough income from the main: activities to finance working capital;
whether the enterprise has enough funds to finance the selected investment program;
whether there is a need (and to what extent) to attract debt financing sources.

More on the topic 7.2.3. Financial activities:

2. Algorithms for modeling the financial activities of a company
2.1. The content and essence of the financial activities of a commercial enterprise
Section ANALYSIS OF FINANCIAL ACTIVITIES OF THE ENTERPRISE
Chapter 4. CONCEPT AND LEGAL FORMS OF FINANCIAL ACTIVITIES OF THE STATE AND MUNICIPAL FORMATIONS
§ 1. The concept and role of financial activities of the state and municipalities
§ 2. Organizational and legal features and methods of financial activities of the state and municipalities

Fin. activity is the main branch of management, the special task of which is to raise funds for all branches of government. With the help of fin. activities are financed by the state.

4. Methods of financial activities of the state.

To mobilize den. state funds apply:

· The method of establishing compulsory payments and taxes. This method is used to find all direct and indirect taxes, mandatory payments, contributions to trust funds.

· Method of voluntary fundraising. Consists in the fact that the state attracts at its disposal temporarily free funds of the population and enterprises by issuing state. loans, cash lotteries, deposits of the population.

· Combination of compulsory and voluntary insurance (insurance institute).

When spending funds:

· Method budget. financing, i.e. irrevocable gratuitous targeted vacation of funds for certain needs.

· Bank lending, i.e. returnable, reimbursable, targeted, urgent leave of funds on bail.

5. Principles of financial activity of Ukraine.

· Planning. Each area of fin. activities are necessarily planned fin. budget plans, enterprises (balance of income and expenses), ministries (consolidated balance of expenses and income), in institutions and organizations - an estimate of income and expenses, in banks - a credit plan and cash plan.

· Accounting and control. For accounting - the installation of the same accounting methodology (Resolution of the Cabinet of Ministers of Ukraine No. 25 of 93 "On the organization of accounting in Ukraine", ie uniform accounting rules have been established for legal entities and individuals.

Control - it is carried out on behalf of the state (VRU, STA, treasury, local self-government bodies, control and auditing service of the U-ny.)

· Equality of nationalities and nat. minorities, i.e. the requirements, the specifics of small peoples are taken into account.

· Participation of the public in the management of state affairs, i.e. through those whom we have elected (the deputy corps).

· Legality, i.e. compliance with finance. disciplines (the scope of planning, consideration and approval of the budget, its execution, admin. and angle. otv-t.).

6. Composition of the financial system of Ukraine.

Scoop-Th Fin. institutes that unite objectified. fin. relations on the education and use of the corresponding centralized and decentralized funds of monetary medium-in is the fin. Wu's system.

All fin. the system consists of centralized and decentralized. funds.

Centralized-state collects money. Wed-va for performing int. and external. f-ts. Through this fund, the state provides the maintenance of social services. spheres, social protection of the people, the development of nar. households, industries, to-rye contribute to the development of the entire economy of production and non-production. spheres. This includes: state. budget of U-us, local budgets, social fund. insurance and social. protection Pension Fund, Chernobyl Fund, Employment Fund.

Decentralized. funds are the state finance institution. enterprises and branches of the bunkers. households. They are formed from the income of enterprises.

Credit institution: bank loans.

Institute of state credit.

Institute of state and commercial property and personal insurance, for losses from various insurance claims.

Settlement Institute. Necessarily present in each of the named institutes, it bears the character of the established order according to the calculation between the subjects in strictly established forms, the use of which is mandatory for each client.

Ying t of monetary circulation is an established form of activity for the issuance of cash for objectified. needs. The procedure for the use of cash is regulated by specials. acts on cash transactions.

Institute of currency calculations provides the shaft. operations, to-rye are connected with the provision of externally-economic. connections.

7. The role of economic standards in financial. activities of the state.

Economic standards are reasonable expenditures of funds per unit, with the use of those. norms expressed in physical and monetary terms, these norms are determined depending on a specific area and for specific purposes.

Contingent network and staff.

The contingent, on the example of our university, is the number or number of students. Network - the number of structural units in the composition budgetary institution... Staffs are calculated based on the contingent and the structure of the unit.

These standards are always minimal and are determined with a saving mode.

8. Subject, science and branch of financial law. Sources of financial law.

Fin. law is a scoop of legal norms governing the process of mobilization, distribution and use of centralization. and decentralization. den. resources in order to ensure the tasks and functions of the state. Fin. law regulates a large group of relations associated with objectified. powers of the managerial sphere, regulates the budgetary process, lending and den. system, in-t insurance and tax. system.

Fin. rights are general relations arising in the process of fin. activities, formation, distribution and use of state. centralized funds and decentralized. Funds of all forms of ownership.

Finnish industry law is regulated by definition. The circle of common relations, which differ from other common relations in their particulars. In the industry of fin. law includes a theoretical part, edges studies concepts in Fin. law, the content of the actions of financial-legal norms and financial. legal relations, ways of protecting the interests of the state, legal. and physical persons, the rest of the provisions of science fin. rights, powers of bodies exercising fin. activity and fin. the control. The theoretical part is divided into general and specific.

Fin.-legal science proceeds from the basic premises of fin. activities, the study of past experience, theoretical research and action econom. z-new in the present tense. In fin. science developed economy. z-us, aimed at the development of society.

Difference of science fin. rights and fin. right:

Fin. the right is valid on the basis of valid. zak-va;

· Science fin. rights are theoretical foundations;

· Science fin. law studies all in-you fin. right, based on in-you fin. law and is based on the norms of financial law.

Sources of fin. rights:

· Regulatory legal acts (laws, decrees, regulations). All these acts are not limited in space and time.

· All fin. legal acts that are limited in time and space (budget, credit plans of banks, etc.)

9. Financial and legal relations, their content and important features.

All relations, to-rye arise in the state-ve with the redistribution of income and the formation of centralized and decentralized. funds are regulated by the relevant groups of norms of financial. right, yavl. fin. legal relationship. They are associated with the emergence, change and termination of Fin. legal relations. K fin.-rights. relationships include:

· Relations between PU, VRU and CMU regarding the adoption of tax laws. system, specific taxes, budget system, the annual adoption of the VRU budget resolution, drawing up, consideration, approval of control on the execution and approval of the report on the execution of state. budget of Wu.

· The relationship between the Verkhovna Rada and local and regional governments regarding annual deductions, general taxes and payments in favor of the local budget (balancing all budgets of the University by means of percentage deductions from the state budget, subsidies).

The purpose commercial organization is the extraction of profit, that is, obtaining a positive financial result of the enterprise. In this case, the calculation should be made not only for internal accounting and analysis, but also for compliance with the requirements of the law, since it is mandatory and is part of the reporting.

Financial performance analysis

The indicator of financial results testifies to the efficiency of the enterprise, profitability, on the basis of these data, the owners and management of the enterprise determine the prospects and development trends.

At the same time, depending on the tasks, the financial result can be determined both for the enterprise as a whole, and for certain types activities or by types of products, or by structural units... Internal accounting of the company's activities is not regulated, and the owners independently decide how to accumulate data on income and expenses, what to take into account when determining the financial result and for what period.

At the same time, the analysis of activities can be carried out on the basis of statistical data on the industry, comparison with similar companies. But first of all, a comparison is made of data on income and expenses for the same previous period. At the same time, data on income and expenses are assessed, the reasons for growth and decline are analyzed, the effectiveness of personnel work, the use of equipment can be assessed. Taking into account external and internal factors, for example, the situation on the market, the need for long-term investments, a forecast of further development is made, the company's activities can be adjusted up to the termination of unprofitable activities.

Income statement

The legislation obliges the organization to keep records of financial results and reflect the data in the Statement of financial results, approved. By order of the Ministry of Finance of the Russian Federation of 02.07.2010 N 66n.

According to paragraph 1 of Art. 14 of the Law of 06.12.2011 N 402-FZ "On accounting" Report on financial results is part of the annual accounting statements.

The Report includes indicators:

proceeds,
cost price,
gross profit, which is defined as the difference between revenue and cost,
commercial expenses,
administrative expenses,
profit or loss from sales,
income from participation in other organizations,
interest receivable,
interest payable,
other income and expenses.

Based on the results of these indicators, profit before tax is displayed and, taking into account income tax and tax liabilities, the net profit of the enterprise is determined.

The first and most indicative data are revenue and cost, that is, income and expenses from ordinary activities, which are formed according to the rules of PBU 9/99 and 10/99. For example, if an organization is engaged in the lease of property, then the amount of rent received will be indicated, if the organization is engaged in trade, but has entered into a one-time short-term lease agreement, then the rent will not be included in this indicator, but will be included in other income.

And it also takes into account the costs that are incurred for the normal activity. For example, these are the costs that are necessary for the maintenance of the property being rented out, which takes into account both the salaries of staff and the costs of Maintenance property, and other costs.

The report on financial results is submitted to the tax authority and the statistics authority. But in addition, this form is often requested by banks when issuing a loan, counterparties when concluding agreements, they can also request a decryption of individual indicators. Based on these data, a primary analysis of solvency is carried out, this may determine not only the loan rate or the condition of a deferred payment, but also the ability to conclude an agreement with a counterparty in which the organization is interested.