Measures to improve financial. The project of measures to improve financial stability - thesis. The ratio of net profit to equity capital - characterizes the profitability of a business for its owners

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Introduction

The activity of any enterprise is focused on obtaining certain results. However, some enterprises confidently achieve their goals, while others are less successful. Many associate the success of the enterprise with the correct choice of the type of activity, the availability of sufficient resources and the ability to navigate the stormy sea of the market economy. Successful planning economic activity the enterprise undoubtedly depends on the correct initial orientation and favorable initial conditions for its activities - the provision of material, financial and labor resources. However, a significant role is also played by the way an enterprise is managed in a turbulent sea of economic surprises, inflationary surprises, and fierce competition. Management in a broad sense as a complex socio-economic process means the impact on the process, object, system to maintain their stability or transfer from one state to another in accordance with the set goals. Management in the narrow sense is specific ways (methods) of influencing a controlled object to achieve a specific goal. Management is carried out on the basis of various forms and methods of influencing the object of management.

Analysis of the activities of an economic entity is one of the most effective management methods, the main element of justifying management decisions.

The relevance of this issue has led to the development of methods for analyzing the financial condition of enterprises and their improvement. These methods are aimed at express assessment of the financial condition of the enterprise, preparation of information for adoption management decisions within the framework of improving the financial condition of the enterprise.

Successful operation of enterprises in modern conditions requires an increase in production efficiency, the competitiveness of products and services based on the implementation of the achievements of scientific and technological progress, effective forms of management and production management, enhancing entrepreneurship, etc. An important role in the implementation of this task is assigned to the analysis of the economic activities of enterprises. With its help, a strategy and tactics for the development of an enterprise are developed, plans and management decisions are substantiated, control over their implementation is carried out, reserves for increasing production efficiency are identified, the results of the enterprise, its divisions and employees are assessed.

The purpose of the analysis and diagnostics of the financial and economic activities of an enterprise is to increase the efficiency of its work on the basis of a systematic study of all types of its activities. In the process of analyzing and diagnosing the financial and economic activities of the enterprise, the totality of technological, socio-economic, legal, environmental and other processes, the patterns of formation, construction and functioning of management systems are investigated; principles of building organizational structures, the effectiveness of the methods used; informational, material and technical and personnel support.

The purpose of this study is to determine the financial condition of the enterprise and develop actions to improve it.

To achieve this goal, we formulated the following tasks:

preliminary review accounting statements;

characteristics of the property of the enterprise: non-circulating and circulating assets;

1.evaluation financial sustainability;

2. characteristics of sources of funds: own and borrowed;

3. analysis of profit and profitability;

4. development of measures to improve the financial and economic activities of the enterprise.

The subject of this work is the financial condition of the enterprise.

The object of the study of this work is the enterprise LLC "Tekhkom-Avtomatika".

The research methods in the work are general scientific methods: analysis, observation, comparison and monographic method.

Information support: regulatory materials, estimates, price tags, accounting and reporting, statutory information.

Methodological support:

Graduation structure qualification work: introduction, three chapters, conclusion, bibliography and applications.

The introduction substantiates the relevance of the topic under study; the object and subject of research are indicated; the purpose and tasks of the work have been determined; research methods are listed.

The first chapter presents the theoretical aspects of the financial condition of the enterprise.

In the second chapter, we carried out a financial analysis of the activities of Tekhkom-Avtomatika LLC.

In the third chapter, we have developed measures to improve the financial condition of Tekhkom-Avtomatika LLC and calculated their effectiveness.

In conclusion, conclusions are presented based on the results of the study in accordance with the set goal and objectives of the work.

The research period was from 2006 to 2010.

The effect of applying improvement measures financial indicators the enterprise can be expressed in reducing the company's loss by 96.06% or 6751 thousand rubles. Measures to optimize accounts receivable can have the effect of freeing up an additional amount of money that the company can spend on paying off its most urgent obligations.

1. Theoretical aspects of assessing and improving the financial condition of the enterprise

1.1 The financial condition of the enterprise as a subject of research

financial balance management

Economic analysis as a science is a system of special knowledge based on the laws of development and functioning of systems and aimed at understanding the methodology for assessing, diagnosing and forecasting the financial and economic activities of an enterprise.

Each science has its own subject. Under the subject economic analysis, the economic processes of enterprises, their socio-economic efficiency and the final financial results of activities, formed under the influence of objective and subjective factors, reflected through the system of economic information, are understood.

The subject of economic analysis determines the tasks facing it. Among the main ones we will highlight:

Increasing the scientific and economic feasibility of business plans, business processes and standards in the process of their development;

An objective and comprehensive study of the implementation of business plans, business processes and regulatory compliance;

Determination of the efficiency of the use of labor and material resources;

Control over the implementation of commercial settlement requirements;

Identification and measurement of internal reserves at all stages of the production process;

Checking the optimality of management decisions.

Economic analysis is a necessary element of economic management. Depending on the needs of management, the types of analysis can be distinguished (Table 1).

In practice, certain types of economic analysis are rare.

Table 1. Classification of types of economic analysis

Classification attribute	Analysis type
By control functions
Information support level	internal management analysis external financial analysis
	prospective (preliminary) analysis retrospective (follow-up) analysis operational analysis final (final) analysis
The nature of the objects of management	analysis of stages of expanded reproduction industry analysis analysis of departments and enterprises analysis constituent elements production and industrial relations
Other types of classification
Subjects of analysis	analysis commissioned by management and economic services analysis on the instructions of owners and governing bodies analysis at the request of counterparties (suppliers, buyers, credit and financial authorities)
Periodicity	annual analysis quarterly analysis monthly analysis decade analysis daily analysis
	full analysis local analysis thematic analysis
Object study methods	complete analysis system analysis comparative analysis continuous analysis sample analysis
Work automation degree	PC analysis analysis without the use of a personal computer

The market economy is characterized by the dynamism of situations in the external and internal environment of the enterprise. Under these conditions, an important role is assigned to operational analysis. Its distinctive features are its complexity, computer processing of operational information arrays, the use of its results at the level of individual functional services enterprises in the form of oriented fragmentary information.

As you know, a comprehensive economic analysis of a business entity begins with the study of its activities. Moreover, on initial stage the assessment of the current financial situation is given and the main tendencies of its change are revealed. This analysis is called overall assessment financial condition.

The information required by the financial manager for analysis is summarized in a generalized balance sheet, which is visual financial model enterprises.

Financial analysis is a very important component of any economic research. The term "financial condition of an enterprise" is usually understood as an economic category that reflects the state of capital in the process of its circulation, and the ability of a business entity to develop at a fixed point in time.

With the help of the analysis of the financial condition, the feasibility of the implementation of specific economic, investment and financial decisions is substantiated, the degree of their compliance with the goals of the enterprise's development is established.

World economic science has accumulated rich experience in analyzing the financial and economic activities of enterprises.

Jacques Savary (1622-1690) is considered the founder of systematic economic analysis, who introduced the concept of synthetic and analytical accounting. At the end of the XIX - beginning of the XX century, there was a trend in accounting - balance studies. In Russia, the flowering of the science of balance analysis falls on the first half of the 20th century.

Financial condition refers to 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 location and efficiency of use, financial relationships with other legal and individuals, solvency and financial stability. The financial condition 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 the enterprise depends on the results of its production, commercial and financial activities... If the production and financial plans are successfully fulfilled, then this has a positive effect on the financial position of the company. And vice versa, as a result of underperformance in the production and sale of products, there is an increase in its cost, a decrease in revenue and the amount of profit and, as a consequence, a deterioration in the financial condition of the enterprise and its solvency. 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 like component economic activity is aimed at ensuring the planned income and expenditure Money, the implementation of the calculation discipline, the achievement of rational proportions of equity and debt capital and the most efficient use of it.

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 borrowed by own funds, and what share should be borrowed. 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 of financial leverage, and others, as well as the methodology for their analysis.

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. In this case, it is necessary to solve the following tasks:

1. Based on the study of the causal relationship between various indicators of production, commercial and financial activity, assess the implementation of the admission plan financial resources and their use from the standpoint of improving the financial condition of the enterprise.

2. 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 the use of resources.

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

To assess the financial condition of the enterprise, it is used whole system indicators characterizing changes:

Capital structure of an enterprise by its location and sources of education;

The effectiveness and intensity of its use;

The solvency and creditworthiness of the enterprise;

The stock of its financial stability;

The analysis of the financial condition of the company is based mainly on relative indicators, since it is almost impossible to bring the absolute indicators of the balance sheet under inflation conditions into a comparable form.

The relative indicators of the analyzed enterprise can be compared:

With generally accepted "norms" for assessing the degree of risk and predicting the possibilities of bankruptcy;

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

With similar data for previous years to study the trends of improvement and deterioration in the financial condition of the enterprise.

The analysis of the financial condition 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 resource use, banks to assess credit conditions and determine the degree of risk, suppliers for timely receipt of payments, tax inspectorates to fulfill the plan for the receipt of funds to the budget etc. Accordingly, the analysis is divided into internal and external.

Internal analysis is carried out by the services of the enterprise and its results are used for planning, monitoring and forecasting the financial condition. Its purpose is to establish a systematic flow of funds and place its own and borrowed funds in such a way as to ensure the normal functioning of the enterprise, maximize profits and exclude bankruptcy.

External analysis - carried out by investors, suppliers of material and financial resources, regulatory authorities on the basis of published reports. Its purpose is to establish the possibility of profitable investments in order to maximize profits and eliminate the risk of loss.

In a market economy, the guarantee of survival and the basis for the stable position of an enterprise is its financial stability. It reflects a state of financial resources in which an enterprise, freely maneuvering funds, is able, through their effective use, to ensure an uninterrupted process of production and sale of products, as well as the costs of its expansion and renewal.

Determination of the boundaries of the financial stability of the enterprise is one of the most important economic problems in the conditions of transition to the market, since insufficient financial stability can lead to the lack of funds for the enterprise to develop production, its insolvency and, ultimately, to bankruptcy, and "excessive" stability will be hinder development, burdening the costs of the enterprise with excessive stocks and reserves.

To assess the financial stability of an enterprise, an analysis of its financial condition is required. Financial condition is a set of indicators reflecting the availability, placement and use of financial resources. It is the ability of an enterprise to finance its activities.

The financial condition 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 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 main goal of financial activity is to decide where, when and how to use financial resources for effective development of production and maximum profit.

The purpose of the analysis is not only and not so much to establish and assess the financial condition of the enterprise, but also to constantly carry out work aimed at improving it. An analysis of the financial condition shows in which specific areas this work should be carried out. 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.

The main goal of the analysis is to timely identify and eliminate shortcomings in financial activities and find reserves for improving the state of the enterprise and its solvency.

Modern financial analysis has certain differences from the traditional analysis of financial and economic activities. First of all, this is due to the growing influence external environment for the work of enterprises. In particular, the dependence of the financial condition of economic entities on inflationary processes, the reliability of counterparties (suppliers and buyers), and the increasingly complex organizational and legal forms of functioning has increased.

As a result, the toolkit of modern financial analysis is expanding due to new techniques and methods to take into account these phenomena.

For the purposes of market relations, the analysis of the financial condition of the enterprise is extremely important. This is due to the fact that enterprises acquire independence, bear full responsibility for the results of their production and economic activities to co-owners (shareholders), employees, banks and creditors.

The financial condition of an enterprise is a set of indicators reflecting its ability to pay off its debentures... Financial activity covers the processes of formation, movement and ensuring the safety of the property of the enterprise, control over its use.

The financial condition is the result of the interaction of all elements of the system of financial relations of the enterprise and therefore is determined by the totality of production and economic factors.

The content and the main goal of financial analysis is to assess the financial condition and identify the possibility of increasing the efficiency of the functioning of an economic entity with the help of a rational financial policy. The financial condition of an economic entity is a characteristic of its financial competitiveness (i.e., solvency, creditworthiness), the use of financial resources and capital, the fulfillment of obligations to the state and other business entities.

In the traditional sense, financial analysis is a method of assessing and predicting the financial condition of an enterprise based on its financial statements.

A set of economic indicators that characterize in more detail and accurately the financial position and activity of an enterprise should involve the calculation of the following groups of indicators: analysis of liquidity (or solvency), analysis of financial stability, analysis of turnover (or business activity), analysis of profitability and analysis of labor efficiency.

Solvency indicators reflect the ability of an enterprise to pay off short-term debt with its easily realizable means.

The analysis of the turnover of current liabilities allows us to estimate the average duration of the grace period presented to the company by its creditors. Accounts payable, buyers' advances and stable liabilities are considered as part of current liabilities.

The purpose of the analysis of profitability and profitability is to assess the ability of the enterprise to generate income on the funds and capital invested in current activities.

In the analysis of profitability, the profitability of the main activity, the profitability of investment activities and the profitability of the enterprise as a whole are considered separately. One of the components of assessing profitability is the break-even analysis. Its goal is to determine the lower limit of profitability (break-even point), that is, the minimum amount of revenue required to cover the cost of production. The second task of the break-even analysis is to assess the trend of approaching the critical point and identify the reasons that influenced this trend.

The characteristic of the profitability of the enterprise involves the calculation and analysis of the main indicators of economic and financial profitability, the most significant of which are the total and net profitability of sales, the profitability of assets, production assets and equity.

Currently, industrial enterprises are faced with the task of attracting funds necessary to finance non-current and circulating assets in order to effectively conduct production and economic activities. Raising debt capital leads to the appearance of the effect of financial leverage. The leverage ratio is the inverse of the equity ratio.

Thus, in this paragraph, we examined the essence of the financial condition of the enterprise, its analysis and the significance of the results when developing plans for the development of the enterprise in the market.

1.2 The essence, goals and objectives of the analysis of the financial condition of the enterprise

financial balance state

The term "analysis" comes from the Greek word "analyzis", which in translation means "divide", "dismember". Analysis is the decomposition of the object under study into elements, into internal components inherent in this object, their study.

In a market environment, enterprise finance is particularly important. Highlighting financial side activity of enterprises is in recent years one of the most characteristic features the economic life of the developed capitalist countries. The growing role of enterprise finance should be seen as a worldwide trend.

The term "finance" comes from the Latin word "finansia", originated in the XIII-XV centuries. in the commercial cities of Italy and at first denoted any cash payment. Enterprise finance is an economic category, the peculiarity of which lies in its scope and inherent functions. The modern financial system of the state consists of centralized and decentralized finance.

The research method in the broad sense of the word is understood as a dialectical method, on the basis of which specific methods are formed in each science, including financial analysis.

In order for the comparison results to provide the correct conclusions of the analysis, it is necessary to establish the comparability of the compared indicators, i.e. their uniformity and uniformity. The comparability of analytical indicators is associated with the comparability of calendar dates, assessment methods, working conditions, inflationary processes, etc.

“Reception of summary and grouping consists in combining information materials into analytical tables, which makes it possible to make the necessary comparisons and conclusions. Analytical groupings allow in the process of analysis to identify the relationship of various economic phenomena and indicators, determine the influence of the most significant factors and detect certain patterns and trends in the development of financial processes.

The reception of chain substitutions is used to calculate the magnitude of the influence of factors in the general complex of their impact on the level of the aggregate financial indicator. The essence of the methods of chain substitutions is that, successively replacing each indicator with the basic one, all other indicators are considered as unchanged. This replacement allows you to determine the degree of influence of each factor on the aggregate financial indicator. The number of chain substitutions depends on the number of factors affecting the aggregate financial indicator. Calculations start from the initial base, when all factors are equal to the basic indicator, therefore, the total number of calculations is one more than the number of determining factors. Analysis of the enterprise in comparison of the data of competitors with the industry average and average general economic data.

Factor analysis - analysis of the influence of individual factors (causes) on the effective indicator using deterministic and stochastic research methods. Factor analysis can be either direct or reverse, i.e. synthesis - the combination of individual elements into a common effective indicator.

All the listed methods of analysis are formalized. However, there are also non-formalized methods: expert assessments, scenarios, psychological, morphological, etc., which are based on the description of analytical procedures at the logical level.

The use of methods of analysis for specific purposes of studying the state of the analyzed economic entity, in the aggregate, is the method of analysis.

Different authors offer different methods of financial analysis. The detailing of the procedural side of the financial analysis methodology depends on the goals set, as well as on various factors of information, time, methodological and technical support.

All techniques have their own advantages and disadvantages. Based on the goals set, this work uses the methodology for analyzing financial activities based on the methodology of V.V. Kovalev, V.K. Bykadorov and P.D. Alekseeva with the addition of E.S. Stoyanova and other authors who have a different opinion on this topic.

Types of financial analysis:

The main types of economic analysis and their characteristics according to the most important features are classified as follows:

By industry basis:

Industry analysis is an analysis, the method of which takes into account the specifics of individual sectors of the economy (industry, Agriculture, construction, transport, trade, etc.);

Cross-sectoral analysis - analysis that is theoretical and the level of performance indicators. Deterministic analysis is used to study functional relationships between factorial and performance indicators;

Margin analysis is a method for assessing and justifying the effectiveness of management decisions in business based on the causal relationship of sales volume, cost price and profit and dividing costs into fixed and variable;

Economic and mathematical analysis is an analysis with the help of which the most optimal solution to an economic problem is found,

Environmental costs. It is carried out by the security authorities environment and economic services of the enterprise;

Marketing Analysis is an analysis carried out by the marketing department of an enterprise or association. Marketing analysis is used to study the external environment of the enterprise, raw materials and sales markets finished products, its competitiveness, supply and demand, commercial risk, the formation of pricing policy, the development of tactics and strategies for marketing activities.

Information support for financial analysis.

The composition, content and quality of information that is involved in the analysis have a decisive role in ensuring the validity of the analysis of economic activity. The analysis is not limited only to economic data, but makes extensive use of technical, technological and other information. All data sources for analysis are divided into planned, accounting and off-accounting.

Planned sources include all types of plans that are developed at the enterprise (long-term, current, operational, self-supporting assignments, flow charts), as well as regulatory materials, estimates, price tags, design assignments, etc.

Sources and information of an accounting nature are all data that contain documents of accounting, statistical and operational accounting, as well as all types of reporting, primary accounting information.

The leading role in the information support of the analysis belongs to accounting and reporting, where economic phenomena, processes, and their results are most fully reflected.

Study of best practices obtained from various sources of information (Internet, radio, television, newspapers, etc.);

Materials of special surveys of the state of production at individual workplaces (timing, photography, etc.);

Statutory information.

In relation to the object of research, information is internal (data of statistical, accounting, operational accounting and reporting, planning data, regulatory data, etc.) and external (data of statistical collections, periodicals and special editions, conferences, business meetings, official, economic - legal documents, etc.).

In relation to the subject of research, information is divided into basic and auxiliary information.

According to the frequency of receipt, analytical information is divided into regular (planned and accounting data) and episodic (generated as needed).

Regular information, in turn, is subdivided into constant (codes, ciphers, chart of accounts, etc.), conditionally constant (plan indicators, standards) and variable (reporting data for a specific date).

In relation to the processing process, information can be classified as primary (data of primary accounting, inventories, surveys) and secondary (reporting, market surveys, etc.).

A number of requirements are imposed on the organization of information support for analysis: the analytical nature of information, its objectivity, unity, efficiency, rationality, etc.

Information base, a conclusion confirming its reliability. Other information, production and financial accounting data, which are trade secrets, are not published, only the company's management in some cases can expand the information provided for analysis.

Financial statements - one system data on the property and financial position of the organization and on the results of its economic activities, compiled on the basis of accounting data in accordance with established forms.

Balance sheet and income statement:

a) statement of changes in equity (form No. 3);

b) cash flow statement (form No. 4);

c) annexes to the balance sheet (form No. 5);

d) a report on the targeted use of the funds received (form No. 6).

e) explanatory note;

f) an auditor's report confirming the accuracy of the organization's financial statements, if it is in accordance with federal laws subject to mandatory audit.

Annual financial statements provide ample opportunities for a comprehensive analysis of the enterprise, and the most informative part of it is the balance sheet (form No. 1). It reflects the state of property, equity and liabilities of the enterprise at a certain date.

The balance allows you to assess the efficiency of the enterprise's capital allocation, its sufficiency for current and future economic activities, to assess the size and structure of borrowed capital, as well as the effectiveness of their attraction.

Based on the study of the balance, external users can: make decisions about the feasibility and conditions of doing business with this enterprise as a partner; assess the creditworthiness of the company as a borrower; assess the possible risks of their investments, the feasibility of purchasing shares of this enterprise and his assets, etc.

When analyzing the balance sheet, it is necessary first of all to establish what changes have occurred in its assets and liabilities during the analyzed period, and to assess these changes.

The term "balance" (from Latin bis - twice and lanx - more often, which literally means "two-part") is used as a symbol of balance, equality. It is not a specific accounting term and is also widely used in other areas of economics, politics and everyday life.

In accounting, the word "balance" has several meanings:

a) equality of totals when making records on accounts and grouping of funds of an economic entity in different sections;

b) the summary of the main reporting form;

c) the name of the main reporting form.

The value of the balance sheet as the main reporting form is extremely high, since this document allows you to get a fairly clear and unbiased idea of the property and financial situation of the enterprise. The balance sheet reflects the state of the enterprise's funds in monetary value as of a certain date in two sections: a) by composition (type); b) according to the sources of formation, i.e. the same amount of funds that are at the disposal of the enterprise is presented in two ways, which makes it possible to get an idea of where the financial resources of the enterprise are invested (balance sheet asset) and what are the sources of their origin (balance sheet liability). In our country, traditionally, the balance is presented in the form of a two-sided table, on the left side of which the assets of the enterprise are placed, and on the right - its liabilities; in this case, the total assets and liabilities of the balance sheet coincide. In Russian accounting and analytical practice, it is customary to call the balance sheet total the balance sheet currency.

Since one of the purposes of the balance sheet is to characterize changes in the financial condition of the enterprise for the reporting period, it contains two columns of indicators - at the beginning of the year and at the end of the period (for example, a quarter, a balance sheet and a good command of the methodology for its analysis. To be able to read a balance sheet means to know the content of each its articles, methods of its assessment and the relationship with other balance sheet items, the nature of possible changes for each item and their impact on the financial position of the enterprise, its solvency.

The main factors that determine the financial condition of the enterprise are, firstly, the fulfillment of the financial plan and replenishment as the need arises of its own working capital at the expense of profit and, secondly, the turnover rate working capital(assets). The signal indicator, in which the financial condition is manifested, is the company's solvency, which means its ability to timely meet the payment requirements of suppliers of equipment and materials in accordance with business contracts, repay loans, pay staff wages, and make payments to the budget. Since the implementation of the financial plan mainly depends on the results of production and economic activities in general, we can say that the financial position is determined by the most generalizing indicator. Consequently, the income statement is also used to analyze the financial condition.

The profit and loss statement (form No. 2) contains a comparison of the sum of all income of the enterprise from the sale of goods and services or other items of income and income with the sum of all expenses incurred by the enterprise to maintain its activities for the period from the beginning of the year. The result this comparison are the gross (balance sheet) profit or loss for the period. The income statement is divided into two sections. The first section reflects the stages of calculating financial results (gross profit or loss), in the second section they show the directions of using the company's profits in the reporting period: for paying taxes, creating a reserve and special funds, calculating dividends, etc.

The profit and loss statement gives an idea of the development trends of the company, its financial and production capabilities, not only in the past and present, but also in the future.

For investors and analysts, the profit and loss statement is in many respects a document more important than the balance sheet of the enterprise, since it contains not frozen, one-time, but dynamic information about what successes the enterprise has achieved during the year and due to what aggregated factors, what is the scope of its activities.

The capital flow statement (form No. 3) consists of two sections, as well as reference information... Section I "Own capital" reflects the presence and movement of all types of sources of the organization's own funds: authorized (joint) capital, additional capital, reserve fund, retained earnings of previous years, accumulation funds, fund of the social sphere. It also shows targeted funding and revenues received from the budget and from sectoral and intersectoral extra-budgetary funds.

Section II "Other funds and reserves" reflect the presence and movement of consumption funds, reserves for future expenses and payments, estimated reserves.

The cash flow statement (form No. 4) supplements the balance sheet. If the balance sheet reflects the financial position of the organization at a certain point (the end of the reporting period), then the cash flow statement explains the changes that have occurred with one of the components financial statements- in cash from one date of the balance sheet to another. Information on cash flows and intangible assets, composition of accounts receivable and accounts payable.

The report on the targeted use of the funds received (form No. 6) reflects the balances of the earmarked funds received non-profit organizations in the form of admission, membership, voluntary contributions and other sources.

One of the measures to improve the financial condition of the company is to reduce accounts receivable.

It is very common for enterprises to have accounts receivable, since they have high incomes, which allows them to ship products with a deferred payment to other organizations.

Accounts receivable of an enterprise means lending it to its consumers and customers, and often against the will of the creditor. As a result, the company is forced to invest part of the funds in this debt. These investments are calculated based on the lost revenue.

Exist whole line measures to reduce accounts receivable, which can be conditionally combined into several groups:

Control over the status of settlements with customers, selection business partners and the optimal scheme of relationships with them.

This could include an assessment business reputation, the scale and degree of influence, potential and existing partners and the possible consequences of their change; assessment of the conditions in which these partners work, analysis of the financial condition of clients. You can also include proposals for maintaining detailed accounts receivable for customer accounts;

Targeting a wider range of consumers in order to reduce the risk of non-payment by one or more debtors;

Control over the ratio of receivables and payables, since a significant excess of receivables creates a threat to the financial stability of the enterprise and attracting additional expensive sources of financing;

Using the method of providing discounts for prepayment;

Referral to compulsory collection of debts depending on the size of the debt and the scheme of mutual settlements between partners;

The use of financial instruments and institutions, such as the sale of debts to factoring companies, the use of bills of exchange in settlements.

If at any stage of the project the receivables are paid off (reduced), or their average term is reduced, then this means disinvestment, that is, the release of funds, which should affect the cash flow, and, consequently, increase the liquidity of the assets of the enterprise.

One of the methods of reducing the accounts receivable of the enterprise is the emergence between the seller and the buyer of an intermediary - a factor that acquires for a certain commission percentage a commitment to deliver in exchange for an immediate full or partial payment of money.

Factoring or forfeiting operations are the purchase by a bank or a specialized company of the supplier's claims against the buyer and their collection for a certain fee.

For crediting terms from 6 months to 6 years, forfeiting is applied and the forfetor bears all risks for the acquired obligations without turning over to the inferior.

The assignable debt can be formalized in any form, but the most widespread is its registration with bills of exchange. When they are taken into account, the problem arises of finding such a ratio of the interest rate provided by the supplier to the buyer of the loan, the methods of its repayment and interest payments, the factor-firm discount rate, so that as a result the seller of the goods could receive its initial value.

In the process of implementation financial strategy enterprises great attention should be given to areas of improving the financial condition of the enterprise, namely, increasing liquidity, solvency, financial stability and business activity.

The main directions of improving the financial condition of the enterprise are shown in Figure 1. Let us consider in detail the directions presented.

The direction "Optimizing or reducing costs" involves actions to stop the decline in profits. A very effective mechanism is the creation of a system for effective cost control. Sometimes you can cut costs by simply starting to account for them. It has been noticed, for example, that when an enterprise begins to register outgoing long-distance and international calls of its employees by date, time and purpose, total amount calls is reduced due to a decrease in calls to personal affairs employees. Wherein a prerequisite is the support by employees of the existing cost accounting system. An important point in this direction is the analysis of the causes of costs, which allows you to take the necessary actions to eliminate the causes of undesirable cost increases. So, for example, if hospitality costs are increasing, it is useful to determine why employees spend the business's money in expensive restaurants: because the business is actively expanding customer base and the number of signed contracts is growing, or because control over the use of representative funds is simply weakened. It is also advisable to analyze the organizational structure in order to eliminate unnecessary levels of management and reduce labor costs.

The “Conduct Inventory Reorganization” track assumes that inventory is categorized according to the degree to which it is important to improve the stability of operations. The volumes of those types of stocks that are not critical to the functioning of the business should be reduced. At the same time, supply order activities should be intensified by introducing more effective control procedures, such as centralizing storage and release of goods, reallocating storage space, or improving workflow.

Direction "Receiving additional funds from the use of fixed assets" After that, it is possible to determine the most appropriate communication channels for effectively communicating offers to the market participants for the sale or lease of property. The property that could not be rented out must be mothballed, an act of conservation must be drawn up and submitted to the tax office, which will allow this property to be excluded from the calculation of the taxable base.

Figure 1. The main measures to improve the financial condition of the enterprise

The direction "Changing the structure of debt obligations" involves a detailed analysis of these obligations and possible options for their repayment in order to increase liquidity in the future. If it is impossible to repay these liabilities, options for changing the structure are considered (transferring long-term liabilities to short-term ones or vice versa).

The direction "Differentiation of payments to creditors by priority to reduce cash outflow" involves ranking suppliers depending on their degree of importance. Critical suppliers must be at the center of attention; it is advisable to intensify contacts with them in order to strengthen mutual understanding and the desire for cooperation.

The direction "Revision of capital investment plans" is a means of increasing the flow of funds. It aims to minimize costs. Especially in the context of the threat of a crisis, it makes sense to abandon investments in capital construction, acquisition of new equipment, expansion of the sales network, etc., except in urgent cases. To determine them, it is necessary to assess which capital investment requirements cannot be deferred to a later date. It is also necessary to abandon those capital expenditures that cannot provide an immediate return for the enterprise.

The direction "Increasing the flow of funds from interested financial sources not related to mutual trade" involves the provision of assistance by the main support groups - the bank, shareholders or owners.

The direction "Increasing the volume of production and sales" provides an increase in funds received from the sale of products, i.e. an increase in absolutely liquid assets, and hence liquidity itself. To this end, it is necessary to single out the groups of goods that bring the greatest profit, conduct an analysis of the price and volume of products sold to determine the most reasonable compromise that will help the enterprise, despite the decrease in sales, increase the receipt of additional funds by increasing prices, trade margins or sales volumes. ...

The next two areas are "Forecasting the financial condition" and "Introduction effective system cash flow forecasting ”are closely interconnected. Forecasting the financial condition of an enterprise should always be carried out after integrated analysis in order to determine the prospective financial condition in the near future and, as a consequence, to develop appropriate measures. Forecasting cash flow is the most important component of forecasting the financial condition in general. The reliability, accuracy, validity of the methods used ensure the effectiveness of the forecasting system as a whole.

The financial condition of the enterprise is greatly influenced by: the cost of raw materials, the balance of accounts receivable and payable, which ensures the financial stability of the enterprise, as well as the levels of profitability and liquidity of the enterprise.

All of the above factors can negatively or positively affect the financial condition of the enterprise.

The implementation of the above directions will improve the financial condition of the enterprise.

2. Analysis of the financial condition of the organization on the example of LLC "Tekhkom-Avtomatika"

2.1 general characteristics enterprises of LLC "Tekhkom-Avtomatika"

Society with limited liability Tekhkom-Avtomatika is a wholesale and retail trade in industrial automation components. Tekhkom-Avtomatika LLC owns the pavilion where the office is located, shopping room and warehouse. The company was founded in 2002 and is constantly expanding the circle of customers.

LLC "Tekhkom-Avtomatika" receives only licensed products from manufacturing plants, with most of which contracts have been concluded for 5-8 years. The main range of thermostats, temperature sensors, pressure sensors, manometers and frequency converters.

LLC "Tekhkom-Avtomatika":

Cooperates with more than 60 manufacturers of instrumentation and automation;

Offers a range of products over 50,000 items;

Works at producer prices;

It sells products from a warehouse in Barnaul, Omsk, Novosibirsk - key items are always available;

Renders technical support and project support;

Implements service maintenance all equipment.

For the normal functioning of the enterprise, an analysis of its activities is carried out, depending on the constantly changing market conditions. This allows us to make the business sustainable - profitable and competitive, as well as to ensure its further development. The organization has a good profit, which is not only a financial result, but also the main financial resource. Conducting systematic analyzes of activities allows:

Quickly, efficiently and personally assess the results of the enterprise;

Accurately and in a timely manner to find and take into account the factors affecting the received profit;

Determine the costs and the trend of their change, which is necessary to determine the selling price and calculate the profitability;

Find the best ways to solve various problems and get enough profit.

For a comprehensive assessment of the effectiveness trading activities various indicators are used: turnover, profit, profitability, distribution costs, etc.

When planning profit, the influence of a number of factors on the size of profit is revealed: the percentage of profit is determined by marketable products in the base year and an increase in profits due to an increase in the volume of purchases of commercial products; an increase or decrease in profits due to an increase or decrease in the cost of marketable products, an increase in profits due to changes in prices and a number of other factors.

The information basis for the analysis of the economic activity of the company is the data of accounting and statistical reporting, balance sheets.

The document flow in the company plays a very important role. It is very important here to document transactions (contracts). Very important aspect is the execution of payment documents (invoices, etc.)

The documentation is drawn up by the managerial staff (registration of transactions) and consulting engineers (payment documents), certified by the seal. The documentation process is controlled by the accounting department. Organization of work with documents is the creation optimal conditions for all types of work with documents. Such works include: acceptance and registration, consideration of documents by the head, the procedure for passing documents in the organization and in execution, control of execution, formation of cases, preparation and transfer of cases to the archive.

The main part of the assortment is laid out on showcases and stands to get acquainted with the technical and weight and size characteristics. The functions of a consulting engineer are limited to advising buyers, selecting equipment and issuing invoices. The organization works for cash and non-cash payments.

Financial sustainability

Dependency ratio

The ratio of borrowed and equity capital - means how much the assets of the enterprise are financed from borrowed funds

The lower the better

Equity share ratio

The ratio of own funds to the total amount of assets - characterizes what part of assets is own funds

0,5-0,6

Capitalization ratio

The ratio of debt and equity capital - the rate of return of the investor

> 1 - is higher. from borrowed

Wed-in

Equity ratio

The ratio of equity capital (minus non-current assets, long-term liabilities and losses) to circulating assets - characterizes the availability of the company's own circulating assets necessary for its financial stability

>= 0.1

Maneuverability coefficient

The ratio of equity (net of non-current assets, long-term liabilities and losses) to current assets

0,2-0,5

Financial stability ratio

The ratio of the share capital to total assets - shows the share of the company's assets financed by equity capital.

> 60%

Profitability

Return on sales

Sales profit to sales revenue ratio - shows the share of profit in each earned ruble.

The bigger, the better

Profitability of core business

The ratio of profit from sales to costs of production and sale - shows how much profit each ruble of production costs gives

Return on assets, ROA

The ratio of net profit to the average annual value of assets - shows the ability of the company's assets to generate profit

Return on Total Equity, ROCE

The ratio of the amount of profit before interest and taxes, multiplied by the difference between the unit and the tax rate, to the amount of debt and equity capital - shows the efficiency and profitability of the company in capital investments

Return on working capital

The ratio of net profit to current assets - characterizes the company's ability to make a profit from its core business

Return on equity, ROE

The ratio of net profit to own capital- characterizes the profitability of a business for its owners

Appendix 2

Sokol property analysis "and

sources of its formation

Group	2009 year.	2010 year.	2011 year.	Changes 2011 by 2009
sum, thousand roubles	beats weight, %	sum, thousand roubles.	beats weight, %	sum, thousand roubles.	weight, %	Absolutely lute, thousand rubles	relative sieve,%

Total property, incl.
Fixed assets
Current assets, incl.

Receivables
Cash and short-term financial investments

Total sources, incl.
Own sources
Borrowed sources, incl.
Long-term borrowed sources
Short-term loans and borrowings
Accounts payable

A.K. Nesterov Ways to improve the financial condition of the enterprise // Encyclopedia of the Nesterovs

The financial and economic activities of enterprises are based on their stable financial condition, which allows making decisions about the prospects for the further development of an enterprise or a separate business area within the production and economic structure of the organization. In this regard, for the heads of enterprises, one of the main directions with the help of which they can somehow influence the future development is the improvement of the financial condition of the enterprise.

- this is the main task of managing the financial condition of the enterprise.

Management of the financial condition of the enterprise

Despite the high costs, financial management and implementation of measures aimed at improving it, allows enterprises to achieve higher financial results. The creation of more flexible business processes also enables the company to use financial resources more efficiently.

The financial condition of the enterprise- this is a stable state of an economic entity, characterized by the availability of financial resources, the availability of funds necessary to carry out economic activities, maintain a normal operating mode and timely settlements with other entities.

With the help of a system of indicators of the state of capital in the process of its circulation within the framework of the activities of the enterprise, it is possible to assess the current financial condition of the organization and determine its ability to finance economic economic activity at this moment. The financial condition, in this regard, can be stable, unstable and crisis. A stable financial condition means that the company is solvent. An unstable financial condition characterizes a situation in which an enterprise is periodically insolvent. And the crisis financial condition corresponds to the constant insolvency of the enterprise. Thus, best option consists in the fact that the enterprise always had free financial resources sufficient to pay off existing liabilities.

Financial management is one of the most difficult tasks for CFO.

includes a set of tasks related to the analysis and diagnosis of financial condition through financial ratios, and the development of solutions aimed at improving the financial condition.

Financial ratios characterizing the financial condition of enterprises are indicators of the effectiveness of the financial and economic activities of the enterprise. The values of the coefficients numerically express possible risk deterioration of the financial condition of the enterprise. However, it should be noted that some financial ratios may not be fully applicable to certain enterprises due to the specifics of their economic activities.

Thus, if an enterprise is able to timely fulfill its obligations and finance its economic activities on an ongoing basis, then this indicates its good financial condition. At the same time, a good financial condition is important for enterprises in the context of the dynamic development of the modern economy. This is due to the fact that enterprises that are in a stable financial condition have an advantage over competitors in attracting investments, recruiting qualified personnel, establishing stable economic relations with suppliers on favorable terms, etc. In addition, such enterprises do not come into conflict with state bodies in fulfilling their obligations to the state and society in relation to tax payments and wages.

At the same time, any activity directly affects the financial condition of the enterprise, as there are changes in the structure of the balance sheet of the enterprise. Reflection of the processes of economic activity of a financially stable enterprise is characterized by a balanced balance. At the same time, it is possible to manage the financial condition of the enterprise only by studying the data for the past period, in order to implement various measures to improve the financial condition in the next period on the basis of the data received. Thus, a retrospective analysis of the financial condition allows you to make decisions to improve the financial condition of the company in the future.

Management of the financial condition of the enterprise compounded by the fact that many companies use the same standard methods, forgetting about the need to develop solutions that correspond to the economic situation in general and directly to the financial situation of the enterprise. Thus, when standard methods prove insufficient, the company usually hires an external financial advisor, whose task is to analyze the current situation and propose better methods for improving the company's financial condition. Another approach is to hire an in-house financial analyst who will analyze the financial condition of the company and develop plans to improve the financial condition of the company.

It should be noted that in some companies, especially large industrial enterprises, financial management also includes monitoring the limits of financial transactions, making various types of payments and monitoring the fulfillment of obligations that the company has given.

Improving the financial condition of the enterprise

The financial improvement mechanism consists of three main elements:

diagnostics of the current financial and economic situation;
development of proposals and measures to improve the financial condition;
implementation of the developed recommendations.

Improving the financial condition of the company begins with a thorough analysis of the existing reporting system, which should provide a complete picture of the company's activities. Diagnostics of the current financial and economic situation is based primarily on the assessment of the main financial ratios. In addition, the diagnostics also includes an assessment of the current financial policy, the financial management system and the general business strategy of the company.

Based on the results of the analysis, a draft of measures or proposals is developed to improve the financial condition of the company. Ways to improve the financial condition can affect both the direct financial component of the organization's activities, and general economic areas that will improve the financial condition of the enterprise. The latter may include increasing profits, reducing costs, etc. At the same time, quite often the improvement of the financial condition may rest on equipping the enterprise with production equipment or the lack of funds for the implementation of the proposed directions. In this case, the primary task of improving the financial condition will be to find additional financial resources for the implementation of the proposed measures.

The implementation of the proposed measures aimed at improving the financial condition will allow the company to get more opportunities for making business decisions related to improving the company's efficiency and increasing profits. In addition, improving the financial condition leads to increased transparency for investors and shareholders, improved efficiency and investment attractiveness of the enterprise.

Financial analysis as a starting point for its improvement

Improving financial condition is a set of measures aimed at efficient use of financial resources enterprises to achieve their strategic goals. The main tasks of improving the financial condition include maximizing profits, minimizing production costs, optimizing the capital structure of the enterprise, ensuring the investment attractiveness of the enterprise, etc.

Improving the financial condition of the company is based on the results of diagnostics of the current financial and economic situation in the company.

The increase in the balance sheet asset indicates the expansion of the enterprise, the decrease in the balance sheet asset - on the narrowing of the enterprise.

Also, one of the main absolute indicators of financial condition is the profit that the company receives. Another, but no less important, absolute indicator is the amount of the enterprise's debt to creditors.

The stability of the financial condition is characterized by a system of financial ratios, indicators of the financial performance of an enterprise, which reflect various aspects of its activities. They are calculated as the ratio of the absolute indicators of the asset and the liability of the balance sheet.

Six main indicators for the analysis of financial condition are shown in the table.

Since the financial condition of the enterprise is a set of indicators reflecting its ability to repay its debt obligations, the analysis of the financial condition covers the processes of formation, movement and maintenance of the property of the enterprise, control over its use. The financial condition of the enterprise is the result of the interaction of all elements of the system of financial relations of the enterprise. Therefore, the financial condition is determined by a combination of production and economic factors.

Consequently:

Improving financial condition should take into account the entire set of factors that somehow affect the financial condition of the enterprise.

Features of improving the financial condition of the enterprise

Despite the abundance of indicators of the financial standing of the enterprise, many analysts use their own rating scale, which may depend on the specifics of the company's work and the goals set by the enterprise. In any case, in order to obtain a real assessment of the company's performance, a comprehensive analysis is required, which should be based on several methods using various indicators of the company's financial condition. Based on the assessment obtained, the development of options for improving the financial condition of the enterprise will be carried out.

Finding the best ways to improve the financial condition of the enterprise is the main task. financial management companies. Before developing ways to improve the financial condition of the company, you first need to determine which areas of financial and economic activities will be optimized. In modern conditions, these areas are reduced, first of all, to the reduction of accounts receivable and payable, the introduction of accounting and planning systems for financial activities, distribution of profits and revision of the structure of sources of financing for the main activities of the enterprise. In particular, a common method is to implement a system management accounting, which allows not only to control the financial and economic processes in the economic activity of the enterprise, but also to effectively manage them. In addition, it is also necessary to assess the possibilities of increasing the profitability of the enterprise by reducing the cost, rational organization production, marketing of products or provision of services. Optimization of working capital is also an important factor. This is another way to improve the financial condition of the enterprise by accelerating the turnover of the enterprise's funds, as well as reducing the cost of manufacturing products or providing services, without losing quality.

In addition to financial methods for improving the financial condition of the company, economic methods are also used that indirectly affect the financial condition of the company. One of the most significant ways to improve the financial condition of an enterprise by optimizing economic and general business processes is to improve the quality of products or services that are provided by the enterprise to consumers, as well as to increase revenue from the sale of manufactured products.

To implement a more effective policy for improving the financial condition, it is necessary to develop a strategy in accordance with which the company will use borrowed capital. In this case, one should rely on the choice of the most effective sources and forms of external financing. In particular, in most cases it is more profitable to lease equipment and machinery than to attract bank loan capital. It is also necessary to develop a plan according to which the company will pay off its debts.

Also, when looking for ways to improve the financial condition of an enterprise, one should analyze the state of the property that is owned by the enterprise. For example, premises and equipment owned by an enterprise can be used more efficiently. In addition, the liquidation of unused fixed assets is possible.

The development of ways to improve the financial condition should also take into account certain types of risks that can affect the activities of the enterprise. This will minimize potential losses.

Thus, one of the main tasks of improving the financial condition of an enterprise is to optimize the business processes that take place at the enterprise. One way or another, all the main financial and economic methods of improving the financial condition of an enterprise come down to this. However, all the existing basic financial and economic methods for improving the financial condition of the enterprise can not fully contribute to the qualitative improvement of the financial condition of the enterprise. Therefore, many companies use in their financial activities the most progressive methods of improving the financial condition of an enterprise, which have shown their worth in foreign and domestic organizations. Such techniques allow you to approach improving your financial condition in terms of efficiency in the long term.

Progressive ways to improve the financial condition of the enterprise

The main ways to improve your financial condition are associated with improving financial discipline at the enterprise.

Implementation of credit policy

One of the most common progressive ways to improve the financial condition of an enterprise is the implementation to reduce accounts receivable. The company's credit policy regulates the provision of a commercial loan and the procedure for collecting receivables. This technique is based on the assessment of the company's counterparties by ranking them by payment discipline and sales volumes. Those. if the client of the company purchases large volumes of products and does not delay payment, then he may be provided with preferential terms of delivery.

As part of the credit policy, a credit regulation is also formed, which includes a procedure for actions, starting from the conclusion of an agreement for the supply of products or the provision of services and ending with filing a lawsuit in the event of default on obligations under the agreement.

Thus, it is necessary to find a balance point between tightening the requirements for customer lending and the provision of preferential terms of sales. Reasonable boundaries of credit policy are the objective reality of the modern economy. The conditions of mutually beneficial partnership are brought to the fore. The lender and the borrower are united by a common economic interest, which is closely related to the stable financial condition of the enterprise.

Implementation of a budgeting system

Another progressive technique for improving the financial condition is the implementation of the system. This step is an organic continuation of the development of the management accounting system in the company.

Budgeting is the basis for delegating tasks and responsibilities.

Budgeting documents the goals that need to be achieved and the tasks that need to be solved to achieve this.

The main goal of introducing budgeting at an enterprise is to create tools for planning, managing and monitoring the efficiency of financial and economic activities, liquidity and financial condition of the enterprise, based on systematic forecasting of the future development of the enterprise by drawing up budgets.

The experience of implementing a budgeting system at enterprises has shown that this method of managing the financial condition of an enterprise also forces the financial system of a company to be put in order if it does not meet the modern requirements of the Russian economy. In the long term, the introduction of budgeting has the effect of reducing the level of accounts payable and receivable to 5-8% already at the planning stage. Based on this, it can be concluded that budgeting is an effective tool for managing the financial condition of the enterprise and as a result of its implementation, it is possible to achieve positive dynamics in relation to the financial condition of the enterprise.

Optimization of the capital structure

In modern economic conditions, situations arise when an enterprise cannot increase the efficiency of its financial activities and improve its financial condition, while continuing to engage in its core business. In this regard, business diversification is a promising technique. Considering this technique in isolation from its economic meaning, but only in financial terms, we can talk about increasing the efficiency of financial activities by obtaining an additional source of financial resources in the form of profit from a new business process. Thus, the company improves its financial condition at the expense of internal reserves and does not increase dependence on external sources of financing. In the long term, this will make it possible either to accumulate profits in accumulation and consumption funds or to direct it to finance the expansion of the scale of the enterprise's activities.

Any company is usually financed simultaneously from various sources. And since attracting a particular source of capital for an enterprise is associated with certain costs, the mobilization of financial resources from various sources has as its goal the formation of an optimal capital structure - such a ratio between equity and borrowed funds, at which the weighted average cost of capital is minimal. This method also belongs to the progressive methods of improving your financial condition in the long term. The essence of capital structure management is to determine the ratio of the use of equity and borrowed capital, which ensures the optimal proportions between the level of return on equity and the level of financial stability, i.e. the market value of the enterprise is maximized.

conclusions

Much attention is paid to improving the financial condition of the enterprise in the modern conditions of the development of the financial and economic system of Russia. The relevance of this issue has led to the development of basic methods for improving the financial condition of enterprises. These methods are aimed at improving the financial condition of the enterprise, preparing information for making management decisions and developing a strategy for managing the financial condition.

Since the existing basic methods and models for improving the financial condition of an enterprise in practice in their pure form cannot always be applied to a specific enterprise, various progressive techniques and models for improving the financial condition are used to obtain more effective results. This is due to the fact that each individual basic method has disadvantages and limitations, which are neutralized when they are used in a complex manner. Progressive techniques and models for improving the financial condition allow to overcome these shortcomings and limitations by adapting to business conditions and the current financial and economic conditions prevailing at the enterprise.

Objects of financial strategy	The constituents Financial strategy	Suggestions for formation financial strategy	Impact on sections of the balance sheet
Name
and receipts		Increase of fixed assets by means of: - Acquisition of "know-how" to increase competitiveness in the market; - sale of products and services in new regions
Expenses and deductions		Distribution of profits to: - consumption - production development - payment of dividends
Relationship with the budget	Optimization distribution Optimization of tax payments	-Reduction of the size of tax payments from profit subject to taxation by creating a reserve fund - performance of works that are not subject to indirect taxes
Credit relationship	Optimization of fixed assets and working capital Optimization of profit distribution	-Inclusion in the price of production of the cost of "Know-How" - obtaining a short-term loan - creation of a reserve fund

Financial soundness indicators	At the end of 2011, thousand rubles	Option 1 (thousand roubles.)	Option 2 (thousand roubles.)
1. Sources of own funds
2. Fixed assets and other non-current assets
3. Availability of own circulating assets (p. 1 - p. 2)
4. Long-term loans and borrowed funds
5. Availability of own and long-term borrowed sources of formation of stocks and costs (line 3 + line 4)
6. Short-term loans and borrowed funds
7. The total value of the main sources of formation of stocks and costs (line 5 + line 6)
8. The amount of stocks and costs
9. Surplus (+) or shortage (-) of own working capital (p. 3 - p. 8)
10. Surplus (+) or shortage (-) of own and long-term sources of formation of stocks and costs (p. 5 - p. 8)
11. Surplus (+) or shortage (-) of the total value of the main sources of formation of stocks and costs (p. 7 - p. 8)
12. Type of financial situation	Relation. steadiness	Relation. steadiness	Relation. steadiness