Development of measures for the financial stability of the enterprise. Measures to improve the efficiency of the financial activities of the enterprise. Financial stability ratio

Undergraduate practice on the topic:

Action plan to improve financial sustainability enterprises

(Falcon")

Introduction ……………………………………………………………. ……… ..3

Part 1. Theoretical …………………………………………. …………… ..5

1.1 Basic concepts, goals, objectives of the analysis of the financial stability of the enterprise ... ... ... ...

1.2 Methods for analyzing the financial stability of an enterprise ..................... ... ... ..9

1.3 Detailed analysis of the financial stability of the enterprise ... .13

Part 2. Analytical …………………………………………………… 17

2.1. general characteristics Falcon "……………………… ... …… 17

2.2. Analysis of the organization of management Sokol "……………….… .19

2.3. Financial stability analysis Sokol "……………………………………………………………………………………………………………………………………………… 24

Conclusions ……………………………………………………………… .. …… .35

References ……………………………………………… .. ………… ..37

Appendices …………………………………………………………. …… ..40

Introduction

The study of the activities of any enterprise is impossible without analysis. It is included in any scientific and practical study of the activities of organizations.

The topic is relevant to this moment time, because in market conditions the guarantee of survival and the basis for the stable position of the enterprise is its financial stability. Determining the boundaries of the stability of the organization is one of the most important economic problems. Since insufficient financial stability can lead to a lack of funds for an enterprise to develop production, its insolvency and, ultimately, to bankruptcy, and excessive financial stability will impede development, burdening the enterprise's costs with excessive stocks and reserves.

To assess the financial stability of an enterprise, an analysis of its financial condition is required. The results of the analysis of the financial condition of the enterprise is of paramount importance for a wide range of users, both internal and external. Namely for managers, partners, investors and lenders.

The purpose of the work is to study theoretical material on the topic under study, and also to analyze financial position and the state of the enterprise.

In accordance with the purpose of the work, it is necessary to highlight the tasks that will be solved to achieve it, namely:

Study of legislation, regulatory documents;

Studying the methodological base of the research topic;

Study theoretical foundations analysis of the financial stability of the analyzed enterprise;

Analysis of the financial stability of the enterprise.

The object of work is Sokol. "

Research period: 2009-2011

Theoretical aspects the studied topics were studied in the works of both domestic and foreign scientists - economists. Among them are such as - M., A., M., Ya., A., Lakhtionova and others.

The basis of the research in the work was the work of famous scientists: M.I.Bakanov, I.T.Balabanov, L.V. Dontsova, V.V. Kovalev, G.V. Savitskaya, E.S.Stoyanova, A.D. Sheremet and others.

The practical basis of the work was formed by the documents of the annual and current reporting Sokol ”.

The methods of research of financial stability Sokol "were: method of financial ratios, horizontal analysis and vertical analysis.

Thus, the work will consider the theoretical aspects of the topic under study and will analyze the financial stability of Sokol. "

Part 1. Theoretical

1.1 Basic concepts, goals, objectives of the analysis of the financial stability of the enterprise

In market conditions, the guarantee of survival and the basis for the stable position of an enterprise is its financial stability. To assess the financial stability of an enterprise, an analysis of its financial condition is required. The results of the analysis of the financial condition of the enterprise is of paramount importance for a wide range of users, both internal and external. Namely for managers, partners, investors and lenders.

Analysis of the financial condition allows you to identify the financial capabilities of the enterprise, timely detect negative trends in its development, including the threat of bankruptcy, develop measures to improve the financial condition, and also choose a reliable partner from a financial point of view.

The study of the topic of the financial condition of the enterprise must begin with a consideration of the theoretical aspects of the analysis of financial stability.

To date, several definitions of the concept of "financial condition" are proposed. Consider the definitions of several authors.

According to P., the financial condition of an enterprise is a set of indicators reflecting its ability to repay its debt obligations.

From the point of view of B, the financial condition is the condition of an economic entity, characterized by the availability of financial resources, the availability of funds necessary for economic activity, maintaining a normal mode of work and life, making monetary settlements with other entities.

1.3 Detailed analysis of the financial stability of the enterprise

For the clearest understanding of the essence of this method, it is necessary to consider the analysis financial indicators, which allows you to identify critical points in the activities of the company, determine the causes of problems and plan actions aimed at solving them.

The analysis of financial indicators consists of four main steps

Selecting indicators that are most suitable for analyzing strategic issues.

Calculation of these indicators.

Comparison of the obtained values with similar indicators of this company for previous years, as well as with their standard values.

Using indicators when compiling financial plans to identify ways of solving problems and future opportunities of the firm.

The analysis of financial calculated indicators is aimed at studying the structure of the company's assets, the quality and intensity of their use, the method of financing them; it allows you to assess the profitability of a company, its solvency and liquidity, as well as some other aspects of its financial life.

The analysis of calculated indicators is the most common financial analysis tool. The big advantage of coefficients is that they smooth out Negative influence inflationary processes that can significantly distort absolute indicators financial statements and thus make it difficult to compare them in dynamics. Get financial ratio you can by dividing one item or the amount of the balance sheet or income statement into another item.

…………….

Part 2. Analytical

2.1. General characteristics Sokol "

Society with limited liability Firm Sokol ”is a young and dynamically developing company. The main activity of the company is the production of engines for oil drilling rigs.

Revenue / Average Annual Accounts Receivable - Shows the average number of days required to find accounts receivable

Debt turnover to suppliers and contractors

Revenue / average annual accounts payable to suppliers and contractors - shows the rate of accumulation / repayment of debts

Inventory turnover

Revenue / average annual cost of inventories - reflects the rate of conversion of invested funds into monetary form

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

Share ratio own funds

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

Attitude equity capital(net of non-current assets, long-term liabilities and losses) to current assets - characterizes the presence of own working capital at the enterprise necessary for its financial stability

>= 0.1

Maneuverability coefficient

Equity Ratio (net of outside 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 equity 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

Problems and prospects for the development of the enterprise

The problem of ensuring financial stability is one of the most urgent for most enterprises. In their activities, they face difficulties in defining a mechanism that would ensure financial balance, and achieving the set goals at the same time for domestic enterprises to ensure financial stability is quite problematic at the present time. One of the main problems is the predominance of borrowing over measures to increase equity capital, including the preference for acquiring borrowed funds in a non-financial form (i.e., acquiring tangible assets on credit, without taking into account the real possibility of paying them in cash). Moreover, this trend is typical for the majority of enterprises in almost any sector of the economy. That is why it is quite difficult for small businesses to obtain loans for their activities, since many banks simply do not trust the solvency of these businesses.

The first problem leads to the second, which is the presence of long-term overdue debts to suppliers, banks, staff, the budget, extra-budgetary funds and other creditors. The ratio between accounts payable and receivable has worsened. Overdue accounts payable on the whole for enterprises account for half of this type of debt.

Such a high growth in arrears in economic terms means an equally rapid and significant reduction in the financial sources of production recovery.

The main reason for the negative dynamics of indicators of the ratio of accounts receivable and accounts payable, as well as a steady trend towards an increase in overdue debt in its total amount, is the physical reduction and destruction of fixed assets, the termination in most cases of not only their expanded reproduction, but also simple.

As a result, there is a sharp drop in production volumes, which is accompanied by a decrease in own sources financing of production. This leads to a significant decrease in the company's solvency, as well as to a breakdown in relations with suppliers, investors, creditors, since such an enterprise will be considered an unreliable partner.

Another key problem that led to the decline in the current financial stability of enterprises is the shortage of cash circulating assets necessary to ensure current production. Lack of free Money on settlement, currency and other bank accounts negatively affects the financial stability of the enterprise and practically means its bankruptcy.

Excessive dependence of an enterprise on external creditors and investors also indicates a too high share of borrowed funds in the capital of the enterprise and negatively affects financial stability.

The listed problems are more or less typical for the majority of enterprises. This trend has been observed over the past few years and is associated with the post-crisis period, which the state is trying to overcome, alas, at a too slow pace.

With regard to LLC "StavroPos", and increasing its financial stability, it is possible to implement the following series of measures. First, it needs to be improved. organizational structure and management structure, the creation of a service that carries out continuous financial analysis of the company's activities, in order to manage financial stability and control the level of the company's solvency. Secondly, it is necessary to reduce accounts receivable, because quite a large part of it in general structure assets reduces the liquidity and financial strength of the company and increases the risk of financial losses of the company. Thirdly, it is necessary to create a reserve for doubtful debts.

3.2. Directions for increasing the financial stability and solvency of the enterprise LLC "StavroPos"

Event No. 1. Creation of a finance department.

Any measures to improve the financial condition of an enterprise cannot be performed without the active work of the employees of this enterprise. At the present stage of its functioning, LLC "StavroPos" is not able to solve various financial problems, including carrying out financial analysis, both internal and external. The company does not have not only a department or service that solves these issues, but also specialists who can be entrusted with the implementation of certain measures to improve the financial condition of LLC "StavroPos". Accounting employees are engaged in the calculation of individual indicators of financial and economic activity, but they are not competent enough in planning and finding ways to get out of this situation.

The department will solve the following tasks, which are currently not considered at the enterprise or are not fully resolved, namely:

security financial resources current activities of the enterprise, finding reserves to reduce costs, increase profits and increase profitability with full fulfillment of obligations to the budget, banks, suppliers

analysis of the current economic activity of the enterprise;

participation in the implementation of financial and economic activities;

constant analysis and control over tax legislation, control over the timely payment of taxes and other obligatory payments to the budget and off-budget funds, as well as over debts to the budget and funds;

ongoing analysis of receivables and payables, analysis of agreements and contracts;

preparation of operational information on the movement of funds on the accounts of the enterprise.

Naturally, the creation of another structural unit at the enterprise will lead to an increase in the cost price and will require additional financial investments. But the effect that can be obtained from this event is obvious.

It is planned that the department will consist of the following units, which will perform specific functions.

Department structure:

financial planning bureau;

bureau of operational accounting of financial and settlement operations;

bureau of operational accounting of financial investments.

The main functions of a financial planning bureau include:

participation in the preparation and approval of contracts concluded by the enterprise, in particular the terms of settlements with suppliers and consumers in accordance with the financial plan;

ensuring the fulfillment of financial obligations to creditors;

conducting systematic monitoring of the financial condition of the enterprise based on the analysis of accounting, statistical and operational reporting;

control over the state of standardized working capital.

The Bureau of Operational Accounting for Financial and Settlement Operations performs the following functions:

systematically monitors the state of receivables, takes measures to collect them;

prepares materials for making claims arising from non-payment of invoices by consumers of products;

regulates daily payments to suppliers and contractors.

The Bureau of Operational Accounting of Financial Investments of the enterprise will monitor the long-term and short-term financial investments of the enterprise, analyze agreements and contracts.

Suppose that 3 specialists will initially be hired to work in the finance department, and as necessary and the expansion of the department's activities, the management will decide to hire additional employees

The costs that the company will have to bear in connection with the creation of a financial department will consist of capital investments in the amount of the cost of a personal computer and furniture (90 thousand rubles) and costs associated with the payment wages(15 thousand rubles * 12 months + deductions for social needs, a total of 54 thousand rubles).

Total: 90 + 54 = 144 thousand rubles.

Thus, the ineffective structure of the enterprise's property, in particular the increased accounts receivable, presupposes the need to immediately carry out work to stabilize and improve the financial condition of StavroPos LLC. This work should be entrusted to the specialists of the financial department, whom it is proposed to create in the enterprise.

Event number 2. Creation of a score system for assessing the reliability of the counterparty, in order to reduce accounts receivable. Implementation of a system of penalties.

A well-built database and analysis of statistical data on the counterparty's fulfillment of its obligations allow us to make an informed decision about the possibility of providing a commercial loan.

At OOO StavroPos, it is necessary to create a system for scoring the reliability of the counterparty based on the analysis of work with him. All counterparties need to be grouped into four groups in terms of reliability:

increased attention;
reliable clients;
"gold" clients.

The reliability of counterparties is assessed based on the period of work with the client, the volume of sales to the client and the volume of overdue debt of this client at the end of the period (see Table 3.1).

Table 3.1

Scale for assessing customer reliability indicators

The assignment of a counterparty to a particular group is carried out on the basis of an integral assessment, which is calculated as a product scores on all three indicators.

The risk group includes enterprises with an integral score from 1 to 4, to the group of increased attention - enterprises with 5-12 points, reliable customers - from 12-27, to "gold" - from 28-64.

The next measure to reduce accounts receivable is the introduction of a system of penalties for late payments.

One of the most effective tools to maximize cash flow and reduce the risk of overdue receivables is a system of discounts and penalties. The system for calculating penalties and fines for violation of the payment deadlines established by the debt repayment schedule should be provided for in the contract. Discounts are provided depending on the term of payment for the goods. For example, with a full prepayment, a discount of 3% of the cost of the goods is provided, with a partial prepayment (more than 50% of the cost of a shipped batch) - a 2% discount, with payment upon shipment - a 1% discount. Discounts are not provided for 7 days payment by installments. If payment is delayed, the penalty is 1% per day on the total amount owed. These conditions must be written in the contract.

Activities №3. Creation of a reserve for doubtful debts.

The organization creates allowances for doubtful debts in case of recognition of receivables doubtful.

At the same time, the receivables of the enterprise are considered doubtful if they are not repaid or, with a high degree of probability, will not be repaid within the terms established by the contract and are not provided with appropriate guarantees.

The creation of a reserve for doubtful debts in tax accounting is an element of tax planning that allows a company to save on paying income tax. With the help of deductions to the reserve, the organization increases its non-operating expenses and thereby reduces its taxable profit.

In this case, income tax is paid only after the organization receives payment from the buyer for the goods shipped, work performed, services rendered (clause 7 of article 250 of the Tax Code of the Russian Federation).

The Tax Code does not establish a requirement to reflect the creation of a provision for doubtful debts in the accounting policy of the enterprise.

The procedure for creating a reserve for doubtful debts is given in Art. Art. 266 and 313 of the Tax Code of the Russian Federation.

Doubtful debt is a debt owed to a taxpayer that:

Not repaid within the terms established by the contract;

Not secured by a pledge, surety, bank guarantee.

The amount of the reserve for doubtful debts is determined based on the results of the inventory conducted as of the last day of the reporting or tax period (clause 4 of article 266 of the Tax Code of the Russian Federation).

Tax legislation does not establish the specifics of conducting an inventory for the use of its data for tax purposes. Therefore, on the basis of Art. 11 of the Tax Code of the Russian Federation, when forming reserves for doubtful debts in tax accounting, inventory data should be used, which is carried out in accordance with the Methodological Recommendations for the Inventory of Property and Financial Liabilities (approved by Order of the Ministry of Finance of Russia dated 13.06.1995 N 49). This is stated in the Letter of the Ministry of Finance of Russia dated July 26, 2006 N 03-03-04 / 1/612.

The number of inventories in the reporting year, the date of their carrying out, the list of property and financial obligations checked for each of them, are established by the head of the enterprise in accordance with the legislation. Information on the procedure for conducting an inventory is reflected in the approved accounting policy (Letter of the Ministry of Finance of Russia dated July 17, 2008 N 03-03-06 / 2/84).

When carrying out an inventory, the organization checks the correctness and validity of the amounts of receivables, which are on the balance sheet of the enterprise (clause 3.48 of Methodological Recommendations N 49). The results of the inventory of accounts receivable are drawn up:

Inventory certificate of settlements with buyers, suppliers and other debtors and creditors (form N INV-17, approved by the Resolution of the State Statistics Committee of Russia of 18.08.1998 N 88);

Reference to the Act of Inventory of Settlements with Buyers, Suppliers and other Debtors and Creditors (Appendix to Form N INV-17).

They reflect only those amounts of receivables for which the limitation period has not yet expired.

Deductions to the reserve for doubtful debts are included in non-operating expenses on the last day of the reporting or tax period (clause 3 of article 266 of the Tax Code of the Russian Federation).

If the reporting period for income tax for the enterprise is a quarter, then deductions to the reserve for doubtful debts are referred to non-operating expenses on the last day of the quarter. If the organization reports on income tax on a monthly basis, then deductions to the reserve for doubtful debts must be included in the structure of non-operating expenses on the last day of each month.

Consider the possibility of creating reserves for doubtful debts for the enterprise LLC "StavroPos".

According to the results of the inventory of accounts receivable for the services rendered as of 01.01.2013, the following was revealed:

Debt in the amount of 2170.8 thousand rubles. - the term of occurrence is more than 90 calendar days;

In accounting, all debts are recognized as doubtful. Sales proceeds for 2012 amounted to 9322.02 thousand rubles.

Let's define the RSO: 2170.8 * 100% = 2170.8 thousand rubles.

Let's define the PSO: 9322.02 thousand rubles. x 10% = 932.2 thousand rubles.

Thus, in tax accounting, the amount of the reserve as of 01.01.2013 will amount to 932.2 thousand rubles.

The creation of a reserve for doubtful debts creates an opportunity to save on income tax in the amount of 186.44 thousand rubles.

The creation of a reserve mitigates the negative consequences of writing off bad debts, but does not eliminate them, in this connection, measures to prevent the occurrence of debts and enterprises from collection should become the basis for managing the accounts receivable of OOO StavroPos.

Summing up the above, it should be noted that a decrease in financial stability and solvency to one degree or another is characteristic of most enterprises. This trend has been observed over the past few years and is associated with the post-crisis period, which the state is trying to overcome, alas, at a too slow pace.

As for the enterprise LLC "StavroPos", and increasing its financial stability, it is possible to implement the following series of measures. Firstly, it is necessary to improve its organizational structure and management structure, to create a service that carries out continuous financial analysis of the enterprise's activities in order to manage financial stability and control the level of the company's solvency. Secondly, it is necessary to reduce accounts receivable, because Quite a large part of it in the total structure of assets reduces the liquidity and financial stability of the enterprise and increases the risk of financial losses for the company. Thirdly, it is necessary to create a reserve for doubtful debts.

CONCLUSION

Financial stability is the guarantor of the solid position of a commercial enterprise. The higher the stability of an enterprise, the more it is independent of an unexpected change in market conditions and, consequently, the more less risk be on the brink of bankruptcy. Assessment of financial stability in the short term is related to the liquidity of the balance sheet and the solvency of the enterprise.

Ensuring a stable financial position of the enterprise allows attracting additional investments, improving the quality of customer service, the range of products sold, increasing sales and, ultimately, increasing the profitability of the enterprise. If the financial stability of an enterprise is considered reliable, then this allows not only attracting investments, but also receiving deferred payments from suppliers, attracting funds at a lower interest rate, and this reduces costs and increases its competitiveness.

Summing up the final qualifying work, I would like to note that the purpose of the study, which is to develop recommendations for improving financial stability, has generally been achieved.

The fulfillment of the assigned tasks of this work made it possible to obtain the following main results of the study:

The financial stability of an enterprise is the ability of a business entity to function and develop, to maintain a balance of its assets and liabilities in a changing internal and external environment.

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

The financial stability of an enterprise is determined by the level of its financial independence and the level of its solvency.

Analysis of the financial stability of the enterprise is critical stage assessments of its activities and financial and economic well-being, reflects the result of its current, investment and financial development, contains the necessary information for investors, and also characterizes the company's ability to meet its debts and obligations and increase its economic potential.

Financial instability is considered normal (acceptable) if the amount of short-term loans and borrowed funds attracted to form stocks does not exceed the total cost of raw materials, materials and finished products.

Assessing the company's ability to meet its long-term financial obligations is the essence of assessing its financial stability. To calculate analytical indicators, data on all sources, on long-term sources, on sources of a financial nature, which are understood as equity capital, bank loans and borrowings (long-term and short-term), can be used.

One of the most important criteria for assessing the financial condition of an enterprise is its solvency. In practice, analysis distinguishes between long-term and current solvency. Long-term solvency refers to the company's ability to pay off its obligations in the long term.

The ability of an enterprise to pay for its short-term obligations is usually called the current solvency. In other words, an organization is considered solvent when it is able to meet its short-term obligations using current assets.

As a result of the research carried out in the second chapter, the following results were revealed:

As a result of the analysis of the technical and economic analysis, it was revealed that the proceeds from the sale of products have a tendency to increase. In 2010, the volume of product sales amounted to 3,500.38 thousand rubles. In 2011 this indicator increased by 35.74% and amounted to 4571.50 thousand rubles. Due to the increase in production volume, sales revenue in 2012 increased by 96.19% and amounted to 9322.02 thousand rubles. The increase in proceeds from sales indicates that the products of StavroPos LLC are in demand among the population of the city of Togliatti and every year there is an increase in production activity.

During the analyzed period, the number of employees increased due to the increase in production. In 2011, the number of employees of the enterprise was 21 people, which is 26.3% more than in 2010, incl. the number of workers increased by 21.43%. In 2012, the number of employees increased by 14.29%, incl. workers 13.33%.

The largest share in the structure of workers is workers.

The proportion of workers in the total number of personnel tends to decrease. In 2012, the share of workers was 70.83%, which is 2.85% less than in 2010.

The annual wages fund in 2011 increased by 22.39% and amounted to 2,432.23 thousand rubles. And in 2012 this figure was 3002.34 thousand rubles, which is 23.44% more than in 2011.

The average salary of employees in 2012 amounted to 125.1 thousand rubles. Salary for 1 ruble products sold in 2011 amounted to 0.512 rubles, and in 2012 this indicator decreased by 37.08% and amounted to 0.322 rubles.

The coefficient of outstripping the growth rates of labor productivity over the growth rates of wages amounted to 1.59 in 2012.

The average annual output of 1 worker in 2011 amounted to 316.77 thousand rubles, and in 2012 this figure increased by 73.11% and amounted to 548.35 thousand rubles. The average annual output of 1 employee was 388.42 thousand rubles.

The average daily output of 1 worker in 2012 amounted to 2,211.11 rubles, which is 73.81% more than in 2011.

The average hourly output of 1 worker is 184.26 rubles. in 2012 and 106.01 rubles. in 2011.

Gross profit in 2011 increased by 25.39% and amounted to 1,446.36 thousand rubles. In 2012, gross profit increased by 148.35% compared to 2011.

Selling expenses have a tendency to increase in 2012, this indicator amounted to 3232.61 thousand rubles, which is 157.47% more than in 2011, as a result of which there was a decrease in profit from sales, and together with management costs, which increased by 39 , 6% was a loss on sales. As a result, the profit on sales in 2011 and 2012 is negative. Profits from sales are declining at a rapid pace and gross margins are increasing - which means that selling and management costs are pulling the company down.

Net profit in the period 2010-2012 has a negative value. In 2010, the net profit amounted to minus 88.01 thousand rubles. In 2012, the net profit amounted to -132.51 thousand rubles. In 2012, net profit amounted to minus RUB 1,015.82 thousand. As a result of this analysis, we can say that the company receives losses from its activities. This was due to an increase in selling and management costs. Therefore, the company needs to pursue a policy to reduce these costs.

The analysis of financial stability showed that the balance sheet of the enterprise is not absolutely liquid in the period 2010-2012. The enterprise LLC "StavroPos" has a payment surplus for the second group of assets and liabilities. This indicates that the organization can repay short-term and long-term loans and borrowings in full. However, there is a lack of the most liquid assets, as indicated by the negative difference between the first group of assets and liabilities. But this situation cannot indicate a crisis of non-payments, given that this group of liabilities includes all accounts payable and other short-term liabilities, which, as a rule, are not presented by creditors for payment at the same time.

In 2011, there was a decrease in solvency indicators compared to 2010. It became necessary to attract additional sources of funding. In 2012, the solvency of StavroPos LLC recovered. The company uses borrowed funds rationally.

All the results obtained indicate that the company is financially unstable. This is evidenced by the increased financial risk ratio. Over the period from 2010-2012, this ratio increased by 0.97 units. The financial equilibrium ratio in 2011 decreased by 0.24 units. And in 2012 it increased by 0.9 units. This indicator characterizes the provision of borrowed funds with own funds. It shows the amount of equity capital per 1 ruble. borrowed funds invested in assets. The higher this indicator, the more stable the financial position of the enterprise.

The autonomy ratio in 2012 amounted to 0.25 units, which is 0.7 units less than in 2010.

The financial stability ratio amounted to 0.75 units, which indicates that the enterprise LLC "StavroPos" is not stable.

Analysis of the probability of bankruptcy using E. Altman's model showed that the probability of bankruptcy of OOO StavroPos is high.

Summing up the whole analysis, it can be noted that despite the fact that the enterprise increases production every year and products are in demand, sales profit and net profit are negative, which indicates that the enterprise's activities are ineffective. The negative value of these indicators occurred as a result of an increase in commercial and administrative expenses; at the same time, the company's balance sheet was liquidated by only 25%. The company is financially unstable, despite the fact that the company has restored its solvency. The probability of bankruptcy is high.

Decrease in financial stability and solvency in one way or another is characteristic of most enterprises. This trend has been observed over the past few years and is associated with the post-crisis period, which the state is trying to overcome, alas, at a too slow pace.

With regard to LLC "StavroPos", and increasing its financial stability, it is possible to implement the following series of measures. Firstly, it is necessary to improve its organizational structure and management structure, to create a service that carries out continuous financial analysis of the enterprise's activities in order to manage financial stability and control the level of the company's solvency. Secondly, it is necessary to reduce accounts receivable, because Quite a large part of it in the total structure of assets reduces the liquidity and financial stability of the enterprise and increases the risk of financial losses for the company. Thirdly, it is necessary to create a reserve for doubtful debts.

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Development of measures to improve the financial and economic condition of the enterprise is the final stage analysis, the need for which is justified by the results of the analysis of financial - economic activity... Possible measures include measures aimed at restoring liquidity, solvency and financial independence, increasing the efficiency of using fixed and circulating assets, preventing bankruptcy, which ultimately will improve the balance sheet structure.

Priority actions include those related to increasing authorized capital, as well as building up current assets by improving the results of financial and economic activities. The implementation of these activities will lead to an increase in Section III"Capital and reserves" of the balance sheet.

At the same time, the growth of profit from the implementation of measures to improve financial and economic activities should be sufficient for the normal excess of current assets over current liabilities. Plan and calculate the necessary increase in own funds (profit or increase in the size of the authorized capital, the size of the state financial support, the size of long-term loans) to restore liquidity and solvency, you can use the formula Sukhova L.F., Glaz V.N., Chernova N.A. Financial analysis and business plan trade organization consumer cooperation: tutorial. - M .: Finance and statistics, 2006 - 288 p. - 110 p .:

The required increase in CC = Fact. size KO * Normative value Ktl - Actual size TA = (p. 690 - 640 - 650) * Ktl normal - (p. 290 - 230 - 244)

According to the balance sheet for 2008. this increase should be 4,940,474.00 rubles.

Along with these activities, the following can be offered:

lease of unused fixed assets of the organization, which can provide an increase in its income and, ultimately, profit, i.e. an increase in the total of 3 sections of the balance sheet liability and, accordingly, section 2 of the balance sheet asset;

sale of part of fixed assets (unnecessary, ineffectively used) as a method of settlement with creditors and a way to reduce the tax burden in terms of property tax, although it should be noted that this method is both long-lasting and in some cases undesirable, since it immediately leads to a reduction in property and the production potential of the organization);

obtaining long-term loans, which will ultimately lead to the restructuring of the organization's obligations. However, it should be borne in mind that a long-term loan is of a targeted nature, in connection with which the improvement of liquidity and solvency is formally.

At the same time, special attention should be paid to the restoration of own working capital (SOS), i.e. elimination of their lack, in other words, the elimination of their immobilization. This is achieved by conducting, first of all, an inventory of both fixed and circulating assets, in order to identify excessive, unnecessary, ineffectively used fixed and circulating assets, as well as stale inventories and the elimination of excess stocks and costs.

The size of immobilization (mobilization) of circulating assets is determined by the formula Sukhova L.F., Glaz V.N., Chernova N.A. Analysis of the financial condition and business plan of a trade organization of consumer cooperation: a tutorial. - M .: Finance and statistics, 2006 - 288 p. - 111 p .:

Amount of immobilization (-) or mobilization (+) = Availability of SOS - Standard SOS = p. 490 + 640 + 650 - 244 + 590 - 190 - 130) - SOS

НСОС - the planned minimum need for working capital, determined by their rationing. In the absence of calculations of standards for working capital, the minimum actual monthly balance of working capital for the previous period, multiplied (adjusted) by the growth rate of planned revenue in comparison with revenue for the reporting period, can be taken as the standard.

If the obtained value is negative, then immobilization took place in the organization, i.e. there is a lack of own circulating assets, and in that case, an inventory of fixed assets should be carried out in order to return the funds to current activities. If the value is positive, then we are talking about the mobilization of working capital, i.e. there is a surplus of its own working capital, and in this case, measures should be taken to eliminate excess stocks.

It should be noted that, as a rule, financing of working capital in the amount of their standard should be provided from their own sources, which is why they are called own working capital. Although, if a trade organization is credited for turnover, then its standard can be financed up to 50% through a short-term loan.

In order to increase the efficiency of using the organization's capital, it is possible, along with the above, to propose the following activities:

Rationing of working capital, i.e. planning the minimum need for working capital for all the constituent elements necessary for the organization for its normal, uninterrupted operation;

The choice of the most justified method of accounting for inventory holdings (FIFO, LIFO, method of average prices), which would best match the current economic strategy and tactics of the organization;

Improving settlement and payment discipline in order to reduce the risk of non-payment;

Reducing the cost of production and sales of products;

Acceleration production cycle... This is achieved primarily through the reconstruction, modernization of existing and the introduction of new production facilities and technologies;

Economically justified slowdown in accounts payable. The average time provided by creditors for purchased goods and services should correspond to the time provided for debtors for goods and services shipped. In other words, we are talking about an economically justified amount of a commercial loan.

However, it should be borne in mind that different types assets are financed by liabilities, the maturity of which coincides with the period of asset turnover. This provides the necessary funds to pay debts on time. Namely, stable assets (non-current assets) are financed from a part of own funds and long-term liabilities, and current assets (current assets) are financed from a part of own funds and short-term liabilities.

Table 10 describes measures to improve financial stability and the effect that can be obtained from them.

Table 10 - Measures to improve the financial stability of the enterprise

Composition of events	Internal effect received by the enterprise
Making provisions from net and gross profit	Increase in the value of property of the share of equity capital, increase in the size of sources of own circulating assets
Strengthening the work on collection of receivables	Increasing the share of cash, accelerating the turnover of circulating assets, increasing the provision of own circulating assets
Reduced production costs	Reduced inventory and costs, increased profitability
Acceleration of accounts receivable turnover	The rhythm of the receipt of funds from debtors, a large "margin of safety" in terms of solvency

If the goal of the organization is to obtain a large profit from the total amount of assets, then you should know that stable assets give a higher rate of return than current assets, but by reducing the size of current assets, the organization may lose its liquidity and solvency. In addition, financing the organization's activities through short-term liabilities is usually cheaper and carries the risk of losing liquidity, and long term duties associated with greater uncertainty and therefore more cost.

Currently, it is important not only to analyze the financial condition of the enterprise, but to predict the financial stability, as well as to develop measures to improve the financial condition.

Thus, the assessment of financial stability is not only a part of the analysis of the financial condition, but also clarifies the issues of the property status of the enterprise, liquidity, solvency, creditworthiness and profitability. In addition, the analysis of financial stability reveals the existing shortcomings and allows you to outline ways to eliminate them.

The main directions of improving the financial condition are shown in Figure 4.

Figure 4 - The main directions of improving the financial condition of the enterprise

Since a positive factor of financial stability is the presence of sources of formation of reserves, and a negative factor is the size of reserves, the main ways of getting out of an unstable and crisis financial state will be: replenishment of sources of formation of reserves and optimization of their structure, as well as a reasonable decrease in the level of reserves.

The most risk-free way of replenishing the sources of formation of reserves should be recognized as an increase in real equity capital through the accumulation of retained earnings or through the distribution of profits after taxation to accumulation funds, provided that a part of these funds grows that are not invested in non-current assets. A decrease in the level of inventories occurs as a result of planning inventory balances, as well as the sale of unused inventories. scientific papers SevKavGTU. Series "Economics", 2009, No. 9 [ Electronic resource]. URL: http://www.ncstu.ru.

Debtor Relations

Accounts receivable is one of the types of assets of an organization that can be sold, transferred, exchanged for property, products, the result of work or services.

According to his economic essence accounts receivable represent funds temporarily withdrawn from the turnover of the enterprise. It's just money. The money that the enterprise, in theory, has, but not "live", but in the form of obligations, expressed in one form or another. Money, whatever it may be, is also a commodity. And the goods, as you know, can be sold. The question is whether it is possible to carry out such a transaction, whether there is a buyer for this product and how expedient such a sale is, in particular, in comparison with other options for collecting debts. Depending on the size of accounts receivable, the most probable timing of its repayment, as well as on what the probability of non-repayment of the debt, it is possible to draw a conclusion about the state of the organization's working capital and its development trends.

In relation to the Russian conditions, leading experts in the field of financial management propose the following measures to improve the system of accounts receivable management:

-exclusion from the number of partners of enterprises with a high degree of risk;
-periodic revision of the maximum loan amount;
-Using the possibility of payment of accounts receivable by promissory notes, securities;
-forming the principles of settlements between the enterprise and counterparties for the coming period;
- identification of financial opportunities for the enterprise to provide a commodity (commercial loan);
-determination of the possible amount of current assets, diverted into accounts receivable on a commodity loan, as well as on advances issued;
-forming the conditions for securing debt collection;
-forming a system of penalties for delay in the fulfillment of obligations by counterparties;
-usage modern forms debt refinancing;
-diversification of clients in order to reduce the risk of non-payment by the monopoly customer.

The objectives of accounts receivable management are:

limiting the acceptable level of receivables;

selection of sales conditions that ensure guaranteed cash flow;

accelerating debt collection;

reduction of budgetary debts;

assessment of possible costs associated with receivables, that is, lost profits from non-use of funds frozen in receivables;

determination of discounts or surcharges for different groups buyers in terms of their compliance with payment discipline;

Let us dwell on the last of the tasks and consider it in terms of measures aimed at improving settlement and payment discipline.

To manage accounts receivable, you must:

Systematically determine the period of overdue balances on accounts of debtors and compare this period with the normative and data from previous years;

If you have problems with receiving money, you must receive a deposit in an amount not less than the amount on the debtor's account;

Use the opportunity to sell accounts receivable from a factoring company, provided that savings are obtained from this sale;

When selling more items, invoice buyers immediately;

In order to stimulate demand and increase the volume of sales of goods, it is necessary to offer a discount on the goods being sold to financially reliable buyers for early payment for products, and possibly a delay in payment.

For a calculation example economic efficiency policy of discounts to financially reliable debtors, subject to early payment for the products they purchase, we will use the information from the financial statements (balance sheet and profit and loss statement) for 2007 of Techmarket-K LLC:

Revenue for the year (line 010 from F-2) 8,352,790 thousand rubles.

The balance of accounts receivable (lines 230 + 240 from Form 1) 1,248,364 thousand rubles.

Profit from sales of products (line 050 of F-2) 416216 thousand rubles.

Using this data, we will perform auxiliary calculations:

Return on Sales Ratio:

416216 / 8352790 = 0,05

Average duration of accounts receivable, in days:

1248364 * 360/8352790 = 53.8 days or 1.8 months

Having these data, we will calculate what the policy of discounts for our organization will give LF Sukhova, VN Glaz, NA Chernova. Analysis of the financial condition and business plan of a trade organization of consumer cooperation: a tutorial. - M .: Finance and statistics, 2006 - 288 p. - 114 p ..

First, we calculate how much the average duration of accounts receivable will decrease, assuming that 10% of buyers agree to settle within the first 5 days, and the rest, as before, within 40 days.

The duration of accounts receivable under the new terms of payment for products will be:

Or 1.23 months

Consequently, the provision of the discount provides a reduction in receivables from 1.8 to 1.23 months.

Reducing the duration of accounts receivable will lead to an increase in the number of its turnovers. If earlier it was 6.7 revolutions (12 months / 1.8 months), then after the introduction of the system of discounts the number of revolutions will be 9.9 revolutions (12 months / 1.23 months).

8,352,790 / 9.9 = 843,716 thousand rubles.

Thus, the balance of accounts receivable will be reduced by:

1,248,364 - 843,716 = 404,648 thousand rubles.

Then we calculate how much profit the organization will receive from accelerating the turnover of accounts receivable. The calculation is carried out by multiplying the return on sales ratio by the amount of receivables reduction. The profit will be:

0.05 * 404648 = 20,232 thousand rubles.

At the next stage, we calculate the losses from the provision of a 2% discount, which is supposed to be used by 10% of buyers. They will be:

0.02 * 0.10 * 8352790 = 16706 thousand rubles.

In conclusion, we determine the net income from the policy of discounts. It will be equal to the difference between the profit from accelerating the turnover of accounts receivable and losses from the 2% discount on the sale of goods:

20232 - 16706 = 3526 thousand rubles.

As you can see, there is a net income. Therefore, providing a 2% discount is economically feasible.

The implementation of the proposed measures will lead to an improvement in the balance sheet structure.

Accounts receivable management involves, first of all, control over the turnover of funds in settlements. Acceleration of turnover over time is seen as a positive trend. Great importance has selection potential buyers and defining the terms of payment for goods provided for in contracts. The selection is carried out according to informal criteria: compliance with payment discipline earlier, the buyer's ability to pay for the goods requested by him, the level of current solvency, economic and financial conditions the seller's enterprise (overstocking, the degree of need for cash, etc.).

Payment for goods regular customers is usually made on credit, and the terms of the loan depend on many factors. When developing a policy for lending to buyers, it is necessary to determine the terms of the loan, credit standards, the system for creating reserves for doubtful debts, the system for collecting payments, the system of discounts and additional services provided.

The purpose thesis is the development of measures to improve the financial stability of the enterprise.

In accordance with the purpose of the thesis, the following tasks have been identified:

analysis of the theoretical foundations of the financial stability of the enterprise;
analysis and identification of the peculiarities of the finances of an enterprise in the pharmaceutical industry;
analysis regulatory framework on the subject of research;
analysis of the financial condition of the company NTFF POLISAN LLC;
development of measures to improve the financial stability of the enterprise.

INTRODUCTION …………………………………………………… ............... 3
CHAPTER 1. THEORETICAL AND ORGANIZATIONAL AND LEGAL FRAMEWORK OF FINANCIAL SUSTAINABILITY …………………………………… .........

5
1.1. The concept and essence of the financial stability of the enterprise .............. ……………………………… .. ………
5
1.2. Methodology for analyzing the financial condition of an enterprise .. 7
1.3. Analysis of the characteristics of enterprise finance pharmaceutical industry...................................................
20
1.4. Legal and regulatory framework governing the financial activities of the enterprise .................................... …………
22
CHAPTER 2. ANALYSIS OF THE FINANCIAL STATE OF THE ENTERPRISE (ON THE EXAMPLE OF LLC NTFF POLISAN) .................................. .........................................

24
2.1. Characteristics of the enterprise LLC NTFF POLISAN ........................................... .................................
24
2.2. Analysis and assessment of the financial condition of the enterprise ..................................... ...........
27
2.3. Information software ...................... 37
CHAPTER 3. DEVELOPMENT OF MEASURES TO INCREASE THE FINANCIAL SUSTAINABILITY OF THE ENTERPRISE …………… ................................... ..............

43
3.1. The main ways to improve financial stability ... 43
3.2. Organization economic security at the enterprise…. .................................................. ....................
45
CONCLUSION................................................. ........................................... fifty
LIST OF USED SOURCES ....................................... 52

The work contains 1 file

Federal Agency for Education

State educational institution

higher professional education

"St. Petersburg State

University of Engineering and Economics "

Department of Finance and Banking

final qualifying WORK

on the topic:

"DEVELOPMENT OF MEASURES TO INCREASE THE FINANCIAL STABILITY OF THE ENTERPRISE (ON THE EXAMPLE OF LLC" NTFF POLYSAN ")"

Is done by a student	Dolgikh Yulia Alekseevna, daytime form of education, 3 years 10 months, group 2/3343

Supervisor:	Associate Professor of the Department of Finance and Banking, SPbGIEU, N. Yu. Shvedova, Ph.D.

Reviewer:	Director for production and development "NTFF POLISAN" Potapov A.M.



"Certified for protection"
Head of the Department, Doctor of Economics, Professor		Goncharuk O.V.

St. Petersburg

2008

		P.
INTRODUCTION ……………………………………………………. ..............		3
CHAPTER 1.	THEORETICAL AND ORGANIZATIONAL AND LEGAL FRAMEWORK OF FINANCIAL SUSTAINABILITY ………………………………………………………………………………………………………………………
1.1.	The concept and essence of the financial stability of the enterprise .............. …………… ………………… .. ………	5
1.2.	Methodology for analyzing the financial condition of an enterprise.	7
1.3.	Analysis of the peculiarities of the finances of pharmaceutical enterprises ....................... ..................... .......	20
1.4.	Legal and regulatory framework governing the financial activities of the enterprise ................... ................. …………	22
CHAPTER 2.	ANALYSIS OF THE FINANCIAL STATE OF THE ENTERPRISE (ON THE EXAMPLE OF LLC NTFF POLISAN) ..................... ................ .............. ........................
2.1.	Characteristics of the enterprise LLC NTFF POLISAN ...................... ..................... ......... ........................	24
2.2.	Analysis and assessment of the financial condition of the enterprise ...……………… ............ ......................... ..... ......	27
2.3.	Information software ................... ...	37
CHAPTER 3.	DEVELOPMENT OF MEASURES TO INCREASE THE FINANCIAL STABILITY OF THE ENTERPRISE ..................... ...... .....
3.1.	The main ways to improve financial stability ...	43
3.2.	Organization of economic security at the enterprise…. .............................. .................... .......... ..........	45
CONCLUSION.................... ............................. . .............................. ............		50
LIST OF SOURCES USED.................... ...................		52
APPENDICES .................... ............................. . .............................. ............		55

INTRODUCTION

In market conditions, 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.

The analysis of financial stability is considered as an assessment of the stability of the functioning of the enterprise, both now and in the future.

The multifaceted nature of the problems associated with the financial stability and profitability of the enterprise predetermine the relevance of the study.

The purpose of the thesis is to develop measures to improve the financial stability of the enterprise.

In accordance with the purpose of the thesis, the following tasks have been identified:

analysis of the theoretical foundations of the financial stability of the enterprise;
analysis and identification of the peculiarities of the finances of an enterprise in the pharmaceutical industry;
analysis of the regulatory framework on the subject of research;
analysis of the financial condition of the company NTFF POLISAN LLC;
development of measures to improve the financial stability of the enterprise.

The subject of the research is the financial processes taking place at the enterprise.

The object of the research is the enterprise LLC NTFF POLISAN.

Thesis consists of an introduction, three chapters, a conclusion, a list of used literature and applications.

The first chapter analyzes in sufficient detail various aspects of the financial condition of the enterprise, including the financial stability of the enterprise.

In the second chapter, a detailed analysis of the financial condition of the analyzed enterprise is carried out.

In the third chapter, the main ways of solving the problems of increasing the financial stability and profitability of the analyzed enterprise are formulated.

The methodological basis of the study was: the laws of the Russian Federation, regulations and documents, works of Russian economists, publications in periodicals on the problem under consideration.

The practical basis of the study was made up of practical data on the company "NTFF POLISAN" LLC.

Chapter 1. THEORETICAL AND ORGANIZATIONAL-

LEGAL BASIS OF FINANCIAL

SUSTAINABILITY

1.1. The concept and essence of financial stability

enterprises

To determine the financial position of an enterprise, a number of characteristics are used that most fully and accurately show the state of the enterprise, both internally and external environment... The financial stability of an enterprise is one of these characteristics.

One of the most important characteristics of the financial condition of an enterprise is the stability of its activities from a long-term perspective. It is primarily associated with a common financial structure enterprises, the degree of its dependence on creditors and investors. Thus, many businessmen, including representatives of the public sector of the economy, prefer to invest a minimum of their own funds in the business, and finance it with borrowed money.

Despite the seeming simplicity of the task of quantitatively assessing the financial stability of an enterprise, there is no unified generally accepted approach to the construction of appropriate assessment algorithms. Financial sustainability is a vague concept because includes an assessment different sides activities of the enterprise.

The indicators included in various analysis methods can vary significantly both in quantitative terms and in the calculation methods. Such "inconsistency", although it is naturally not critical, is also characteristic of many Western leaderships and teaching aids in financial analysis and management. The easiest way to explain this "inconsistency" is the quite natural presence of analysts' differing priorities and preferences for certain indicators; nevertheless, at least two reasons can be formulated, to one degree or another, causing this situation:

the analyst's attitude to the need and feasibility of joint consideration of the sources of funds and assets of the enterprise;
the difference in the interpretation of the role of short-term liabilities, including short-term sources of financial nature.

However, general concept sustainability can be formulated as follows - this is the financial condition of the enterprise, the economic activity of which, under normal conditions, ensures the fulfillment of all its obligations to employees, other organizations, the state, thanks to sufficient income and the correspondence of income to expenses.

The indicators of liquidity and financial stability complement each other and in the aggregate give an idea of the well-being of the financial condition of the enterprise: if the enterprise has poor liquidity indicators, but financial stability is not lost, then the enterprise has a chance to get out of the difficult situation. But if both liquidity and financial stability indicators are unsatisfactory, then such an enterprise is a likely candidate for bankruptcy. Coping with financial instability is not easy, and it takes time and investment. For a chronically ill company that has lost its financial stability, any negative coincidence of circumstances can lead to a fatal outcome.

Financial stability depends on internal and external factors. The internal factors, first of all, include the sufficiency of profit. Sustainability also depends on the range and quality of products, structure, property, reserves and stocks, image, degree of achievement of the target function of financial management, etc.

External factors are characterized by the degree of stability of the economic environment of the enterprise and, first of all, by the stability of the proceeds. This is also manifested in the stability of the economy, the position in the industry, the competitive environment, relations with government agencies, suppliers, customers, creditors and investors, etc.

Financial analysis methodology

organization

One of the most important conditions for successful financial management of an enterprise is the analysis of its financial condition.

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

The main purpose of financial analysis is to identify the most complex problems of enterprise management in general and its financial resources in particular.

The main tasks of the analysis of the financial and economic condition of the enterprise include:

assessment of the dynamics of the structure and composition of assets, their condition and movement and the composition of sources of equity and debt capital, their condition and changes;
assessment of the company's solvency and assessment of balance sheet liquidity;
analysis of relative and absolute indicators of the financial stability of the enterprise, assessment of changes in its level;
assessment of the effectiveness of the use of funds and resources of the enterprise

The analysis of the financial and economic condition of the enterprise is carried out using a set of methods and working techniques (methodology) that allow to structure and identify the relationship between the main indicators (Fig. 1).

Rice. 1. The main methods of analysis of the financial and economic condition

Enterprises

The analysis of absolute indicators is the study of the data presented in the financial statements: the composition of the property of the enterprise, the structure of financial investments, sources of formation of equity capital is determined, the amount of borrowed funds, the amount of proceeds from sales, the amount of profit, etc. are estimated.

Horizontal (time) analysis is a comparison of each reporting item with the previous period, which allows you to identify trends in changes in balance sheet items or their groups and, on the basis of this, calculate the basic growth (gain) rates.

Vertical (structural) analysis is carried out in order to determine the structure of the final financial indicators, that is, to identify the proportion of individual reporting items in the overall final indicator (to identify the impact of each reporting item on the result as a whole).

Trend (dynamic) analysis is based on comparing each reporting item for a number of years and determining the trend, i.e., the main trend in the dynamics of the indicator without taking into account random influences and individual characteristics of individual periods. With the help of the trend, a forward-looking, predictive analysis is carried out.