Management analysis studies. Management analysis. The most important points of management analysis

Management accounting is a system of accounting, planning, control, analysis of information on costs and results economic activity required by management personnel to manage the company's activities.

Management analysis- a comprehensive analysis of the internal resources and external capabilities of the enterprise, aimed at assessing the current state of the business, its strengths and weaknesses, and identifying strategic problems.

The purpose of management analysis this is the provision of information to owners and (or) managers (other interested parties) for making management decisions, choosing development options, determining strategic priorities.

Management analysis shows: what prevents effective placement of valuables; whether there is a vacuum or duplication of functions in the control system; whether there is a conflict of rights; are coordination mechanisms in place and are they cumbersome; whether the executive vertical and horizontal links are effectively used; whether authority and responsibility are balanced; is there a division of power, is there an excessive concentration of it in one person to the detriment of the rest, or, conversely, its dispersion; whether the management system is adequate for the selected market segment, organizational structure and personnel.

Management analysis methods are subdivided into sociological and analytical.

1. Sociological methods

1.1. The survey method is focused on obtaining information from direct participants in the investigated processes or phenomena. This method has several types: group and individual questionnaires; postal, press and telephone survey; formalized, focused and free interviewing.

1.2. The observation method is focused on a sufficiently extended collection of information, carried out simultaneously with the development of the phenomena (problems) under study. Types of observation: field and laboratory, systematic and non-systematic, included and not included, structured and unstructured.

1.3. Experimental method - focused on testing the viability of the studied phenomenon (problem). Types of experiments: field, laboratory, linear, parallel, etc.

1.4. Document analysis method - focused on using the entire completeness of information that can be contained in a document. Types: qualitative (traditional) and formalized (content - analysis) analysis.

2. Analytical methods include:

2.1. Comparison method (comparison of comparable indicators to determine deviations from planned indicators, establish their causes and identify reserves). The main types of comparisons used in the analysis: reporting indicators with planned indicators; planned indicators with indicators of the previous period; reporting indicators with indicators of previous periods; performance indicators for each day; indicators of comparison with the average industry data; indicators of the technical level and quality of products of this enterprise with the indicators of similar enterprises; performance indicators of one division with similar performance indicators of other divisions; indicators of comparison of business and personal qualities of some employees with similar qualities of others (possibly by pairwise comparison); indicators of comparison of individual indicators with the average for the division; indicators of work results before and after the introduction of any innovations, innovations. Comparison requires ensuring comparability of the compared indicators (uniformity of assessment, comparability of calendar dates, elimination of the influence of differences in volume and range, quality, seasonal characteristics and territorial differences, geographical conditions, etc.).

2.2. Index method (decomposition by factors of relative and absolute deviations of the generalizing indicator). It is used in the study of complex phenomena, the individual elements of which are immeasurable. As relative indicators, indices are needed to assess the fulfillment of planned targets, to determine the dynamics of phenomena and processes.

2.3. Balance method (comparison of interrelated indicators in order to find out and measure their mutual influence, as well as calculate reserves for increasing production efficiency). When using the balance analysis method, the relationship between individual indicators is expressed in the form of equality of the totals obtained as a result of various comparisons.

2.4. Method of statistics (reflection of digital indicators characterizing the course of various processes, states of objects with a frequency established for research purposes). In a statistical study, the following stages are distinguished: registration, accounting of primary data using special forms; systematization and grouping of data by certain signs; presentation of data in a form that is convenient for perception and analysis; analysis to clarify the essence of the ongoing processes and the interrelationships of their constituent elements.

2.5. The method of chain substitutions (obtaining corrected values ​​of a generalizing indicator by comparing the values ​​of two adjacent indicators in a chain of substitutions).

2.6. Elimination method (highlighting the action of one factor on the generalizing indicators of organizational activity).

2.7. Graphical method (a means of illustrating processes, calculating a number of indicators, formalizing analysis results). Graphic image economic indicators They are distinguished by purpose (comparison charts, chronological and control-plan charts), as well as by the method of construction (linear, bar, circular, volumetric, coordinate, etc.). With the correct construction, graphic tools have clarity, expressiveness, accessibility, contribute to the analysis of phenomena, their generalization and study.

2.8. Functional and cost analysis (selection of the most optimal options that determine decisions in the current or planned conditions).

Fundamental features in the content and organization of financial and management analysis

Classification signs	Financial (external) analysis	Management (internal) analysis
1. Purpose of the analysis	Assessment of the composition and structure of the property of the enterprise, the intensity of the use of capital, solvency and financial stability and the use of profit, forecasting income and cash flows, identifying the dividend policy carried out by the management of the enterprise.	Studying the mechanism for achieving maximum profit and increasing the efficiency of management, development of the most important issues of the enterprise's competitive policy and programs for its development for the future, substantiation of management decisions to achieve specific production goals.
2. Object of analysis	An economic entity as a whole, its financial position.	Various aspects of production and financial activities of structural units of an economic entity.
3. Subjects of analysis (performers)	Individuals and organizations outside this enterprise (managers and analysts of interested firms, special companies engaged in the analysis of reports according to generally accepted methodology, credit agencies, etc.)	Various organizational structures within the business department and individuals responsible for the analysis, laboratories, bureaus, groups, accounting, departments, managers, as well as external consultants for analytical work (professionals).
4. Organization of the analysis (frequency)	They are carried out periodically at least once a year, as well as as reports are submitted to the relevant authorities (to the tax inspectorate - quarterly to the statistical office - quarterly, etc.)	It is carried out as necessary on an irregular basis, primarily in those areas where there is a decline in production, a crisis situation, an increase in costs, a decrease in profitability and product quality, a lag in the competition, etc.
5. Information base of analysis	Financial statements (forms No. 1, 2, 4, 5).	Data of primary accounting and operational accounting, sample surveys, regulatory and reference information, parametric data, acts of audits and inventories, analytical calculations, as well as information obtained from competitors in the process of industrial espionage.
6. Availability of information	Open to all consumers, formed on the basis of public reporting.	Represents a trade secret, used for on-farm management.
7. Consumers of information	Shareholders, investors, banks, suppliers and buyers, tax authorities, issuers, Central Banks, other legal entities and individuals interested in financial sustainability enterprises, as well as competitors, hired personnel and trade union associations, executive authorities, statistical offices, institutions of social protection of the population.	Company managers, board of directors, directors of branches and subsidiaries, shop managers, foremen, foremen, etc.
8. Use of accounting systems	Strictly systematic analysis based on financial statements.	Not necessarily a systematic analysis. The data of accounting, operational and statistical accounting are used, as well as any other information suitable for achieving the set goal.
9. Information meters	Mostly cost meters.	Any measuring instruments: cost, natural, labor and conditionally natural.
10. Use of methods of analysis	Groupings, establishing the influence of inflationary factors; comparative, structural and coefficient analysis; methods of factor analysis.	Statistical and mathematical methods, elimination, comparisons, graphs, complex assessments, etc.
11. Direction of analysis	To give a reasonable assessment of the financial position of the company, to interpret analytical calculations in a qualified manner.	Identify reserves for cost reduction and profit growth, substantiate management decisions on their mobilization into production.
12. Freedom of choice in the analysis	Mandatory adherence to generally accepted principles of its conduct according to data accounting statements.	There are no established norms for its implementation, there are no generally accepted methods. The criterion is suitability, effectiveness.
13. Forms of generalization	Tabular material with initial and calculated analytical data compared with standard coefficients. Written interpretation of analytical data.	Report on the analysis, development of programs for the implementation of sound management decisions.
14. Type of analysis	External, retrospective, thematic.	Internal, operational, ongoing, complex.
15. Degree of reliability	In many respects it is subjective, schematic, insignificant in terms of the number of analytical indicators; cannot be accurate due to deliberate distortion of financial statements to conceal profits and disguise the mechanism for obtaining them. This situation is corrected by audits.	Depends on the purpose of the conduct, uses strictly reliable primary data, confirmed by the audit group and the group internal audit.
16. Place of decision making based on the results of the analysis	Outside the activities of the analyzed enterprise, most often on the basis of veiled data and even deliberately distorted, falsified enterprises that submit reports for disclosure in order to avoid, for example, excessive taxation, etc.	Managers and directors of the enterprise, heads of their departments, the information is deeply grounded, compiled on the basis of verified objective data used to manage their enterprise.

Management analysis uses the entire range of economic information, is operational in nature and is completely subordinate to the will of the organization's management. Only such an analysis makes it possible to realistically assess the state of affairs in the organization, to study the structure of the cost of not only all manufactured and sold products, but also its individual types, the composition of commercial and administrative expenses, and especially carefully examine the nature of the responsibility of officials for the implementation of the business plan.

Management analysis data play a decisive role in the development of the most important issues of the organization's competition policy: improving technology and organization of production, creating a mechanism for achieving maximum profit. Therefore, the results of the management analysis are not subject to publicity, they are used by the organization's management to make managerial decisions, both operational and long-term. The differences between the characteristics of financial and management analysis are more clearly presented in the table.

Comparative characteristics of the types of analysis

Comparison area	The financial analysis	Management analysis
Information Users	Internal, Third Party, Interested	Heads of the organization and its divisions
Analysis objects	Organization as a whole	Organization as a whole and its subdivisions
Sources of information	Accounting forms	Complex of economic information
Measurement units for calculating indicators	Monetary form	Natural and monetary form
Frequency of analysis	According to the reporting dates (quarter, year)	As required and for internal regulations
Availability of results information	Available to everyone	Strictly confidential (only for managers of the organization)

Users of economic information and subjects of economic analysis

Subjects of analysis users of information are both directly interested and indirectly interested in the activities of the enterprise. The first group of users includes the owners of enterprise funds, lenders, suppliers, buyers, tax authorities, enterprise personnel and administration (management). Each subject of analysis studies information from their own positions, based on their interests. It should be noted that only the management of the enterprise can deepen the analysis, using not only the reporting data, but also the data of the entire economic accounting system as part of the management analysis carried out for management purposes. The second group of users of financial statements is the subjects of analysis, who, although they are not directly interested in the results of the enterprise's activities, must, according to the contract, protect the interests of the first group of information consumers. These are primarily audit firms, as well as consulting firms, stock exchanges, lawyers, press, associations, trade unions, etc.

So, subjects of internal management analysis are only the management and the auditors and consultants involved. The information base of management analysis is the entire system of information about the activities of the enterprise - about the technical preparation of production, regulatory and planning information, economic accounting, including data from operational, accounting and statistical accounting, external public financial and the entire system of internal reporting, other types of information, in including expert polls, information from production meetings, press, etc.

Palette subjects of external financial analysis very diverse. But all these subjects of analysis can use, as a rule, only the data of public financial statements on the activities of the enterprise. The standardization of financial accounting and public financial reporting is designed to protect the interests of all partners (correspondents) of the enterprise, while at the same time preserving the commercial secrets of the enterprise.

Internal management analysis is necessary for the management of the enterprise to make management decisions to improve the efficiency of economic activities, and external financial analysis serves external users who act as independent subjects of economic analysis according to public reporting data.

Management analysis includes in its system not only production, but also financial analysis, without which the management of the enterprise cannot carry out its financial strategy. Moreover, the possibilities of management in matters of financial analysis are again broader than those of external users of information. In the feasibility studies of any commercial case (business plans), methods of both production and financial analysis are used.

This analysis can be called a complex management analysis. Management analysis aims to provide analytically-made decisions in enterprise management, i.e. essentially comes down to the justification of management decisions. The largest corporations in the world and many regions, faced with heightened competition in the context of globalization, are switching to modern technologies management accounting and analysis using all economic information (both internal and external), suitable for making economic decisions. The bottom line is that financial and commodity flows, property and liabilities (debts) and other indicators of economic activity are taken into account and analyzed not separately, but in a complex and automated manner. Modern business requires a quick solution to the most complex problems. Thus, a comprehensive management analysis does not allow overstocking, purchases at inflated prices, "freezing" of money in accounts, and, finally, drastically limits the possibilities of theft.

The concept of "management analysis" is broader than the concept of "integrated management analysis". Management analysis includes both a thematic analysis of individual indicators and aspects of economic activity, and a comprehensive analysis for management purposes. Thematic analysis individual indicators or groups of indicators, individual aspects of economic activity (supply, production, sales), individual industrial and financial relations (investment, lending, rent, etc.) are performed primarily for the purpose of regulation and operational management of economic activities as one of the main management functions. Thematic analysis can be both predictive, prospective, and retrospective current analysis. The greatest effect from thematic analysis is obtained when it is carried out as an integral part of a comprehensive analysis, taking into account its goals and in interconnection with other topics of analysis.

The information base for management analysis is all information about the activities of the enterprise: technical preparation of production, regulatory and planning documentation, operational accounting and statistical accounting, external financial reporting, etc.

The main tasks management analyzes are:

assessment of the economic situation;

identification of positive and negative factors, as well as the causes of the current state;

preparation of accepted management decisions;

identification and mobilization of reserves for increasing the efficiency of economic activity.

Management analysis should support the decision-making cycle, milestones which are:

definition of goals and objectives;

search for alternative options for action and the choice of the best option;

realization the best option;

comparison of the results obtained and planned indicators;

a comprehensive assessment of the effectiveness of the decisions made.

Thus, we can designate the following features of management analysis:

orientation of its results to the management of the enterprise;

use of all sources of information;

lack of regulation from the outside;

comprehensive study of all aspects of the enterprise's activities;

integration of accounting, analysis, planning and decision making;

maximum secrecy of the analysis results in order to preserve commercial secrets.

Analysis method for management purposes should include:

determination of the goals and objectives of the analysis; set of analysis indicators;

the scheme, sequence and frequency of the analysis; ways of obtaining information;

list of organizational stages and distribution of responsibilities between the services of the enterprise;

the order of registration of the analysis results.

Analysis of economic activities includes financial and management production analysis.

IN financial (external) process analysis, calculations are performed to determine:

1) absolute indicators of profit, revenue, costs;

2) relative indicators profitability;

3) market stability, balance sheet liquidity, organization's solvency;

4) efficiency of use equity capital or borrowed funds;

5) the efficiency of capital advance ( investment analysis);

6) economic parameters of the financial condition of the organization and the rating assessment of the issuing organization.

Subject managerial or on-farm production analysis are:

1) the rationale for the business plan;

2) marketing system;

3) a comprehensive economic analysis of the efficiency of economic activity;

4) technical and organizational level and other production conditions;

5) the efficiency of the use of production resources;

6) production and sale of products;

7) the relationship between cost, product volume and profit.

Financial analysis based on accounting data is an external analysis and has such features as:

1) the plurality of subjects of analysis (information users);

2) a variety of goals and interests of the subjects of analysis;

3) availability of standard methods, accounting and reporting standards;

4) focus of the analysis only on the public reporting of the organization;

5) maximum openness of the analysis results for users of information about the organization's activities.

The features of management analysis include:

1) orientation of the analysis results to the management of the organization;

2) lack of regulation of outside analysis;

3) the complexity of the analysis, the study of the activities of the enterprise from the economic, financial and technical sides;

4) integration of accounting, analysis, planning and decision making;

5) closedness of the analysis results in order to preserve commercial secrets.

Information of financial and management analysis is based on data production accounting(accounting for production costs). The technical side of production is not directly the subject of financial analysis, but financial indicators are studied in close cooperation with the technique and technology of production, its organization.

The level of financial performance is influenced by natural conditions; this influence is most significant in agriculture and in the extractive industry. The degree of use of natural resources also largely depends on the state of technology and organization of production and is studied along with indicators of the technical and organizational level of production. Financial indicators characterize the technical, organizational and natural conditions of production, as well as social conditions life of production teams, financial and economic conditions of the enterprise - the state of the markets for financing, purchase and sale. The efficiency of the use of production resources, in turn, is manifested:

1) in the volume and quality of the produced and products sold;

2) in the amount of resources consumed for production, and therefore in the cost of production;

3) in the amount of resources used, that is, fixed and circulating assets advanced for economic activity.

If we imagine a scheme for organizing management analysis, then its structure will depend on the strategic goals and tactical objectives of enterprise development (Fig. 1.7).

Management analysis is aimed at identifying internal resources and capabilities of the enterprise, assessing the current state of the business, identifying strategic problems. The need for management analysis is determined by several factors:

firstly, it is necessary when developing a strategy for the development of an enterprise and, in general, for the implementation of effective management, since it seems an important milestone management cycle;

secondly, it is necessary to assess the attractiveness of an enterprise from the point of view of an external investor, to determine the position of an enterprise in national and other ratings;

thirdly, management analysis makes it possible to identify the reserves and capabilities of the enterprise, to determine the directions of adaptation of the internal capabilities of the enterprise to changes in environmental conditions. As a result of the internal analysis of the enterprise, a number of points can be identified:

• - overestimates or underestimates the company itself,
• - it overestimates or underestimates its competitors,
• - what market requirements it attaches too much or, conversely, little importance.

Rice. 1.7.

Management analysis differs from other types of analysis not only in goals, objects and tasks, but also in specific features inherent only in it. The features of management analysis include:

• o orientation of results to the management of the enterprise;
• o use of all possible sources of information;
• o lack of regulation from the outside;
• o a comprehensive study of all aspects of the organization's activities;
• o integration of accounting, analysis, planning and decision making;
• o maximum confidentiality of the analysis results in order to preserve commercial secrets.

A kind of foundation on the basis of which a system of views on the phenomenon under study is formed, and subsequently on the organizational and methodological foundations of any research, are the initial provisions of a particular science or its direction (principles). The principles of management analysis can be considered:

• o objectivity the results obtained on the basis of the conducted research;
• o their scientific validity;
• o consistency;
• o complexity analytical activities;
• o optimality for making rational management decisions;
• o principle selection of the leading link (when selecting the most acceptable options for management decisions);
• o promptness obtaining output analytical data;
• o quantitative certainty;
• o clarity;
• o comparability (comparability) analysis results;
• o principle taking into account the specifics of the enterprise (industry and regional).

The principles of objectivity and scientific validity are characteristic of any type of research. Management analysis is no exception. The analytical study itself must be conducted on the basis of scientific research and proven methods, and its results must be objective. The analysis should be scientific in nature, i.e. is called upon to take into account the requirements of economic laws, to use the achievements of scientific and technological progress and advanced experience. Objectivity is achieved through:

• o use of appropriate methods of analysis, selection of indicators that characterize the object of research;
• o attracting impartial analysts with appropriate training, level of knowledge and experience;
• o selection of the base (reference) comparison.

The systems approach is an approach according to which an enterprise is viewed as a complex system operating in an environment open systems and consisting, in turn, of a number of subsystems. Consistency ensures the completeness, reality of the conclusions. Each object under study is considered as a complex mobile system, consisting of a number of elements connected with each other and the external environment. The study of each object is carried out taking into account all the internal and external connections of its individual elements. The systems approach is closely related to the principle of the complexity of analytical activities. Complexity means:

• o the need to analyze all the main elements of a specific financial and economic activity;
• o the obligation to study the financial and economic activities of the organization in connection with general economic phenomena and processes;
• o coverage of the entire main group of factors of an internal (in relation to a given organization) nature that have an impact on it.

The principle of optimality is characteristic of precisely management analysis, since it allows different options management decisions to choose exactly the one that is this moment time is optimal for the enterprise. And the very choice of this decision depends on the principle of the selection of the leading link. The leading link (ranking factors) involves setting goals and establishing ways to achieve this goal. At the same time, the main (leading) link is always highlighted, using the methods of factor analysis and structuring the problem. The leading link in management is associated with strategic goal business development and the chosen tactics in a specific reporting period.

The principle of efficiency of analysis is aimed at reducing the time for performing work by implementing the principles of rational organization of partial processes (proportionality, parallelism, continuity, rhythm, etc.), coding and automation of information support, improving the quality of information and methods of analysis.

The principle of quantitative certainty assumes quantitative expression:

• - parameters and conditions for ensuring comparability and optimization of alternative options for management decisions;
• - the links between the components of the management system;
• - the degree of uncertainty and risk when making a decision. The principle of comparability of analysis options assumes the comparability of indicators in terms of volume, quality, timing, methods of obtaining information and conditions for using the objects of analysis and other conditions.

The principle of taking into account the specifics of an enterprise is a principle characteristic of management analysis. The economic, economic activity of the enterprise depends on the form in which economic activity the enterprise operates, in which region it is located. A management decision made on the basis of the findings of the management analysis must take these circumstances into account.

The stages of management analysis (Fig. 1.8) generally depend on the objectives of the analysis, but among them the main ones can be distinguished.

Rice. 1.8.

• 1. Determination of the goals and objectives of the analysis.
• 2. Search for alternative options for action and the choice of the best option.
• 3. Implementation of the best option.
• 4. Assessment of the implementation of the plan.
• 5. Comprehensive assessment of the effectiveness of the decisions made.

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Introduction

The market economy necessitates the development of economic entities primarily at the micro level, that is, at the level of individual enterprises, since it is the enterprises (with any form of ownership) that constitute the basis of the market economy.
The economy of the state can be simplified as a set of all kinds of enterprises that are in close production, cooperative, commercial and other interrelationships between themselves and the state.
In the conditions of the formation and development of a market economy, an established management system, that is, a management system in an organization, becomes important to our reality. In order for the organization to work effectively in the market, the leader needs to specify the goals and means of achieving the goals. To do this, it is necessary to competently build an organization management system: production management, management by human resourses, market accounting, needs accounting, competitor analysis, introduction of new information, technical and technological developments. In addition, the leader needs to constantly improve his intellectual, creative and personal development, that is, self-organization and self-development.
A modern manufacturing enterprise is a complex complex, the dynamism and coherence of which is ensured by the control mechanism. Enterprise management mechanism is, first of all, hierarchical system administration of bodies and management structures, with the help of which the main tasks are consistently solved and internal communications are achieved, execution is monitored, levers of influence are used, covering the activities of all links and employees of the enterprise - from worker to director.
When developing an enterprise strategy, managers must investigate the external environment and the situation within the enterprise. It is necessary to identify those internal variables that can be considered as the strengths and weaknesses of the enterprise, assess their importance and establish which of these variables can become the basis of competitive advantages. For this, a management analysis of the company's activities is carried out. It plays an essential role in business development, since enterprises conduct a comprehensive analysis of the internal resources and capabilities of the enterprise, aimed at assessing the current state of the business, its strengths and weaknesses, and identifies strategic problems. This is the relevance of this topic.
The need for management analysis is determined by several factors: when developing a strategy for the development of an enterprise and in general for the implementation of effective management, since it is an important stage in the management cycle; to assess the attractiveness of an enterprise from the point of view of an external investor, to determine the position of the enterprise in national and other ratings; management analysis allows you to identify the reserves and capabilities of the enterprise, to determine the directions of adaptation of the internal capabilities of the enterprise to changes in environmental conditions.
As a result of the internal analysis of the enterprise, a number of points can be identified, such as: the enterprise overestimates or, conversely, underestimates itself; overestimates or underestimates its competitors; what market requirements it attaches too much or, conversely, too little importance.
The results of the analysis should make the staff of the enterprise understand and accept the need for changes.
The importance and necessity of management analysis is also determined by changes in management in a transitional economy, a gradual transition from production to marketing orientation of management, combined with a change in the planning logic. IN modern conditions when enterprises are limited in the possibilities of expanding resource potential, the analysis of the internal capabilities and resources of the enterprise should become the starting point for developing an enterprise strategy and planning its activities.

1. The essence of management analysis and its place in the management system

1.1 The essence and purpose of management analysis

Analysis in the narrow sense of the word, it is the division of a phenomenon or an object into its constituent elements for studying them as parts of a whole. In translation from Greek "analysis" means division, dismemberment.
This dismemberment allows you to explore the inner essence of a phenomenon or object, to determine the role and meaning of each element, accompanied by comments and judgments of the analyst.
Economic analysis is a scientific way of understanding the essence of economic phenomena and processes, based on their dismemberment into their component parts and their study in all the variety of connections and dependencies.
Economic analysis is divided into financial and management (Fig. 1.1).
Financial (external) analysis provides information mainly to such categories of users who do not directly manage the organization, but they are interested in how successful its activities are (banks, suppliers, bondholders, investors, tax authorities, Insurance companies, trade unions, etc.). The known limitation of financial analysis is explained by the content of the financial statements on the data of which it is based: firstly, it allows you to analyze only retrospective events, and secondly, its "openness" to external users means only the possibility of obtaining information, but not the availability of sources of business achievements -activities. Management (internal) analysis is designed to compensate for financial shortcomings and allows you to make informed decisions by internal users (managers of the organization and specialists of certain categories).
The essential classification features that distinguish financial and management analysis are shown in Table 1.1.
Table 1.1. Significant characteristics types of economic analysis

Classification attribute	The financial analysis	Management analysis
	For external users	For internal users
Target	Assessment of financial condition and financial soundness	Economic justification of management decisions
An object	Organization as a whole and by type of activity	Organization as a whole, structural units, aspects of activities
Performers	Analysts and managers of interested counterparties and the organization itself	Analysts and managers of the organization itself
Information base	Accounting (financial) statements, regulatory and reference information. Open to users	Accounting (financial and management), tax, statistical, production reporting, primary accounting data, regulatory and reference information, inventory and internal audit acts. Mostly a trade secret
Systematization	Systematically organized (standard forms of financial statements are used)	Not necessarily systematized (any data is used, including internal management reporting)
Meters	Mostly cost	Cost, natural, labor
Methods	Comparative, structural, dynamic, coefficient, matrix, etc.	Statistical, economic and mathematical, factorial, graphical, matrix, comparative, structural dynamics, coefficient, etc.
View	External retrospective	Internal retrospective, operational and strategic (prospective)
Reliability	Mostly subjective	Mostly objective
Decision area	Outside the organization, in an external business environment	Managers, specialists, leaders of all ranks, in the internal business environment

Management analysis is an analysis of business activities in order to make optimal
management decisions, during which the following main tasks:
· Qualitative assessment of the reliability and completeness of the information used;
· Analytical interpretation of information available in financial, management, statistical, production reporting to obtain reliable conclusions from the standpoint of the main user groups;
· Assessment of indicators and parameters of costs, income and financial results to justify management decisions;
· Monitoring the development of activities to identify unused opportunities to increase the competitiveness of the organization.
From correctness and effectiveness management analysis the main result depends - profit, which then becomes an object financial analysis... That is, each of these types of analysis solves its own problem of a unified analysis strategy at the enterprise.
Management analysis carry out all the services of the enterprise in order to obtain the information necessary for planning, monitoring and making management decisions, etc.
Management analysis integrates three types of internal analysis - retrospective, operational and perspective, - each of which is characterized by the solution of their own problems. The content of the management analysis is shown in Fig. 1.2
57
.
The first two directions (retrospective and operational analysis) were characteristic of internal analysis in a planned economy. The need for forward-looking analysis arising from the transition Russian organizations on the market conditions of management, translates the internal analysis into a new quality, bringing it to the level of management analysis. While retrospective analysis answers the question "How was it?" Within the framework of prospective analysis, it is necessary to highlight short and strategic subspecies that have their own goals and methods.
Features of management analysis:
· A comprehensive study of all aspects of the organization's activities;
· Integration of accounting, analysis, planning and decision making in the organization;
· Use of all available sources of information;
· Orientation of the analysis results to the management of the organization;
· Lack of regulation from the outside;
· Maximum secrecy of the analysis results in order to preserve commercial secrets;
· The boundaries of information analysis tools extend to almost all aspects of economic life;
· Methodological support of analytical procedures includes modern market tools, tested in the practice of foreign and domestic analysts;
· Management analysis is mainly predictive in nature, aimed at assessing the activities of a commercial organization in the future;
· Analytical procedures are aimed at assessing business activities, substantiating optimal management decisions based on identifying untapped opportunities.
The object of management analysis are the economic entities of the economy.
Subject of management analysis is a person directly carrying out management analysis.
Subject of management analysis- these are the economic processes occurring at the enterprise, the socio-economic efficiency and the results of its activities.
The main purpose of management analysis- this is information support for making informed management decisions.
Conducting management analysis enterprises of any branch of the national economy allows:
· To evaluate the place of the enterprise in the market of the given product;
· To analyze the resource possibilities of increasing the volume of production and sales through better use of the main factors of production: means of labor, objects of labor and labor resources;
· Evaluate the possible results of production and sales of products and ways to accelerate them;
· Make decisions on the range and quality of products, launching new samples into production;
· Develop a cost management strategy in the organization;
· Define a pricing strategy;
· Analyze the relationship between sales, costs and profits in order to manage the breakeven of production.
Management analysis uses internal (accounting and off-line) and external information, therefore, the methods used in the course of analytical procedures are diverse and depend, first of all, on the direction of the analysis.
The set of techniques and methods chosen by the analyst, applied in a certain sequence, in the study of business activities, make up management analysis methodology... At each stage of the analysis, the appropriate methods... (In Figure 1.3)
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a list of private methods of management analysis is presented. The most commonly used methods are listed below.
Comparison method... This method allows you to determine the general and specific in economic phenomena, to study changes in the objects under study, trends and patterns of their development.
The comparison method is used in following typical situations:
· evaluation of the implementation of the plan- comparison of planned and actual values ​​of indicators;
· determination of trends in the development of economic processes- comparison of the actual values ​​of indicators with the values ​​of previous reporting periods;
· cost management- comparison of the actual values ​​of indicators with the normative ones;
· identification of unused reserves- comparison of indicator values different enterprises one industry with average data (based on government statistics or rating agencies);
· selection of the best management solution- comparison of options for management decisions;
· calculation of the quantitative influence of factors on the effective indicator- comparison of performance results before and after a change in any factor.
Chain substitution method- a universal method of deterministic factor analysis. It is based on the gradual replacement of the base value of each factor by its value in the reporting period. In this case, it is assumed that other factors do not change. This method allows you to identify the effect of changes in factor indicators on fluctuations in the effective indicator. The application of the method of chain substitutions requires knowledge of the relationship of factors, their subordination, the ability to correctly classify and systematize them, since the results of calculations depend on the order of statement.
Method of absolute differences is used to calculate the influence of factors on the growth of the effective indicator in deterministic analysis. When using it, the magnitude of the influence of factors is calculated by multiplying the absolute increase in the value of the factor under study by the base level of factors that are to the right of it, and by the current level of factors located to the left of it in the model. Although its use is limited, due to its simplicity, it is widely used in economic analysis.
Relative difference method is used to calculate the influence of factors on the growth of the effective indicator in deterministic analysis. At the same time, indices of factors are used that consistently affect the effective indicator.
Logarithm method It is used to measure the influence of factors in multiplicative models (when the effective indicator is presented as a product of factors). The calculation result does not depend on the location of the factors in the model. The method provides high accuracy of calculations. Using the logarithm, the result of the combined action of the factors is distributed in proportion to the share of the isolated influence of each factor on the level of the effective indicator. This is its advantage, and the disadvantage is the limited scope of its application. When taking the logarithm, not absolute increments of indicators are used, but indices of their growth (decrease).
Integral method is used to measure the influence of factors in various models. The use of this method allows obtaining more accurate results of calculating the influence of factors in comparison with the methods of chain substitution, absolute and relative differences, since the additional increase in the effective indicator from the interaction of factors is not added to the last factor, but is divided equally between them.
Index method... "Index" in Latin - pointer or index. Index is an indicator of the relative change in a given level of the phenomenon under study in comparison with its other level, taken as a comparison base. As such a base can be used the level for any past period of time (dynamic index) or the level of the same phenomenon in another territory (territorial index).
Indices are an indispensable research tool in those cases when it is necessary to compare two populations in time or space, the elements of which cannot be summed up directly.
In general, the index method is aimed at solving following tasks:
· Characteristics of the general change in the level of a complex socio-economic phenomenon;
· Analysis of the influence of each of the factors on the change in the indexed value by eliminating the impact of other factors;
· Analysis of the influence of structural changes on the change in the indexed value.
Average values are used in complex economic analysis to summarize the quantitative characteristics of a set of homogeneous phenomena for a certain criterion.
When conducting a comprehensive economic analysis, practically all kinds of averages: simple arithmetic mean, weighted arithmetic mean, geometric mean, chronological mean, harmonic mean.
The use of averages in management analysis has its strengths and weaknesses.
Advantage lies in the fact that the calculation of the average value allows you to obtain a generalized characteristic, and therefore, to identify certain trends and patterns in the development of economic phenomena.
Flaw lies in the fact that the average values ​​smooth out individual negative and positive trends in activity within the period under study.
Therefore, using average values ​​when conducting a comprehensive economic analysis, one should disclose their content, supplementing them with average group indicators, and, if necessary, with individual ones.
Relative indicators show the ratio of the magnitude of the phenomenon under study with the magnitude of any other phenomenon or with the magnitude of this phenomenon, but taken for another period or for another object. They are obtained as a result of dividing one value by another, which is taken as a comparison base.
Grouping- This is a method of dividing the mass of the studied set of objects into qualitatively homogeneous groups according to the corresponding characteristics.
Analytical groups used to determine the presence, direction and form of the relationship between the studied indicators. In terms of the complexity of building, groupings are simple and combined.
Simple groupings allow you to study the relationship between the phenomena, grouped according to one criterion chosen by the analyst.
Through combined groupings explores the complex connections between phenomena. To do this, the totality of data is divided into groups according to one characteristic, and then within each group - according to another characteristic.
Methodology for constructing and analyzing the grouping in general.
1. Determination of the purpose of the analysis.
2. Collecting the necessary data on the entire set of objects.
3. Ranking a set of objects by grouping criterion.
4. Choosing the distribution interval of the population and dividing it into groups.
5. Determination of average group indicators for grouping and analyzed characteristics.
6. Analysis of the obtained average values, determination of the relationship between the studied indicators.
Balance method serves mainly to reflect the ratios, proportions of two groups of interrelated economic indicators, the results of which should be identical.
It is widely used in the analysis of the provision of an enterprise with labor, financial resources, raw materials, fuel, materials, fixed assets, etc., as well as in the analysis of the completeness of their use. As an auxiliary tool, the balance method is used in the analysis to check the correctness of determining the influence of various factors on the increase in the value of the effective indicator. In deterministic analysis, the algebraic sum of the magnitude of the influence of individual factors should correspond to the magnitude of the total increase in the effective indicator
Receptions correlation analysis used when the relationship between indicators is incomplete, probabilistic.
Pairwise correlation- this is the relationship between two indicators, one of which is factorial, and the other is effective. Multiple correlation arises from the interaction of several factors with a performance indicator.
Necessary conditions for using correlation analysis:
1) the presence of a sufficiently large number of observations on the value of the investigated factorial and effective indicators;
2) the factors under study should be quantitatively measured and reflected in certain sources of information.
Graphical method. Charts represent a scale image of indicators, numbers using geometric signs (lines, rectangles, circles) or conventionally artistic figures. They are of great illustrative value. Thanks to them, the material being studied becomes more intelligible and understandable.
The analytical value of the charts is also great. In contrast to the tabular material, the graph gives a generalized drawing of the position or development of the phenomenon under study, allows you to visually notice those patterns that the numerical information contains. The graph shows the tendencies and connections of the studied indicators more expressively.
Simulation modeling... The solution of many problems of management analysis is possible only with the use of economic and mathematical modeling, construction of simulation models and systems that allow predicting financial results in conditions of uncertainty and risk. The development of information technology makes it possible to use the results of research in the field of building simulation models capable of solving semi-structured problems. Simulation modeling (scenario method, situational method, positioning) provides an opportunity to experiment with production and financial processes (existing or anticipated) in cases where it is either impossible or impractical to do this on a real object, namely:
· Describe the behavior of the system;
· Build theories and hypotheses that can explain the observed behavior;
· Use these theories to predict the future behavior of the system, i.e. those influences that can be caused by changes in the system or changes in the ways of its functioning.
Simulation relies heavily on computing theory, mathematics, probability and statistics. In the process of building a simulation model, however, regression and correlation types of analysis can be used.
The scientific results available in this area should also be used in the management accounting system.
Heuristic methods in the analysis of economic activity. Heuristic methods are informal methods for solving economic problems. They are used mainly to predict the state of an object under conditions of partial or complete uncertainty, when the main source of obtaining the necessary information is the scientific intuition of scientists and specialists working in certain areas of science and business.
The most common one is expert judgment method... Its essence lies in the organized collection of judgments and suggestions of specialists (experts) on the problem under study with the subsequent processing of the received answers. The basis of this method is a survey of specialists. The survey can be individual, collective, face-to-face, correspondence, anonymous, etc. The organizers of the survey determine the object and objectives of the examination, select experts, check their competence, analyze and summarize the results of the examination.
Parametric method used to optimize economic systems. It is most often based on parametric programming. The parametric method is used to identify a system of optimal solutions (each of which corresponds to a certain combination of problem conditions), depending on changes in one or more parameters. Such a system of optimal solutions constitutes a zone of uncertainty, the analysis of which makes it possible to abandon some of the options and thereby simplify the solution of the problem.
An important area of ​​the parametric method is also analysis of the stability of solutions to optimization problems... The purpose of such an analysis is to determine the interval (area) of values ​​of one or another parameter, within which the solution remains optimal.
Cluster method(analysis) (eng. data clustering) is the problem of splitting a given sample of objects (situations) into disjoint subsets, called clusters, so that each cluster consists of similar objects, and the objects of different clusters are significantly different.
Dispersion method- a method for establishing the structure of the relationship between the effective trait and factorial traits. The solution to the problem of measuring the connection is based on the decomposition of the sum of the squares of the deviations of the observed values ​​of the effective indicator from the total average into separate parts, causing a change in this indicator.
Matrix method- analysis based on the application of the theory of matrices, which are used to calculate the parameters of the model elements that make up economic systems.
Mathematical programming- a method of operations research, with the help of which the problems associated with the fact that optimal cost subject to certain restrictions as standard. Mathematical programming includes linear, quadratic and dynamic programming.
Operations research- a set of methods (mathematical programming, graph theory, game theory, decision theory, pattern recognition theory, etc.) used in the development and decision-making system.
Scripting method(method "If, then") uses a situational approach to making strategic decisions.
Situational method- assessment of possible changes in the firm's activities, taking into account the influence of external factors, i.e. factors that this company can hardly influence. Situational analysis is also a stage of the marketing planning process, at which the external environment and the market are understood, opportunities and threats are identified, and the competitive position of the company is assessed.
Positioning- the last stage of making strategic decisions, the totality of which the firm uses in an effort to elicit the desired response from the target market. This stage is followed by the direct development of the marketing mix. Positioning is also marketing and promotional activities to provide the company, goods, services with a certain place, a niche in the market, competitiveness, expansion of the clientele, potential consumers.
Ranging(method ranking) - the distribution of economic values ​​by increasing or decreasing indicators characterizing certain of their properties and qualities. Since measurement is not always possible in economics, many economic values ​​simply have to be compared with each other and arranged in a certain order, i.e. rank. For example, indicators of product quality, indicators of personnel training, the degree (level) of implementation of the plan by enterprises, the urgency of certain needs, etc., are subjected to such ordering in economic and mathematical modeling.
Also, ranking - the arrangement of system elements by rank, by signs of significance, scale; establishing the order of location, place of persons, problems, goals and objectives, depending on their importance, weight.
Scoring method- a method of analytical assessment of the research object by a combination of factors in accordance with the scale for assessing these factors by the degree of complexity and the specific weight of each factor.
Questionnaire- a means of obtaining information for a survey, is used in economic, sociological, socio-psychological, demographic research. When questioning, each person from the group selected for the questionnaire must answer the questions of the questionnaire. Questions are open(a free answer is given) and closed(The answer consists in choosing from several statements offered in the questionnaire).
Interview- a way to obtain sociological information about the various needs or satisfaction of the surveyed groups. Polls can be conducted by questionnaire or by interviewing.
Also, with the help of a survey of consumers, it is determined with what qualities and capabilities a brand of a well-known product is associated with a consumer.
Analytical research, its results and their use in production management must comply with certain methodological principles.
1. State approach... Assessment of the results of the organization's activities should take into account its compliance with the requirements of legislation, state economic, environmental and social policies.
2. Scientific character... Economic analysis takes into account the requirements of economic laws, provides for the use of modern topical methods of economic research.
3. Complexity... This is the main quality of economic management analysis, which consists in considering all aspects of the activity of the object under study, all the cause-and-effect relationships of individual elements. economic system.
4. Consistency... Each studied object is considered as a complex dynamic system consisting of elements connected with each other and with the external environment.
5. Objectivity, concreteness, accuracy... The results of the analysis should reflect objective reality and be based on reliable information and accurate analytical calculations.
6. Efficacy... Analysis must actively influence the course production process and its results, timely identify shortcomings in the work and reserves for improving its performance, inform the management of the organization.
7. Planning... The analysis must comply with the action plan, which sets out the terms of work, performers and forms of control over the reliability of the results obtained.
8. Promptness... The analysis should be carried out quickly and clearly, excluding questions that obscure the essence of the problem being studied. This ensures the effectiveness of the management decision taken.
9. Democracy- involves participation in the analysis of a wide range of employees of the enterprise, which provides a more complete identification of best practices and the use of existing on-farm reserves.
10. Efficiency... The cost of the analysis should be significantly less than the effect obtained from it.
Development and implementation of a management analysis system at enterprises should be based on following principles:
Management analysis advocates in the unity of the analysis of production and financial indicators for making tactical and strategic management decisions for the effective functioning of the enterprise in market conditions;
Management analysis should be complex, which provides for the study of the economic and technical aspects of production, as well as the relationship with it social and natural conditions;
· consistency implies the analysis of the enterprise as an integral system.
1.2 Management analysis as a management function

Control functions appeared as a result of division, specialization of managerial labor, since the effectiveness of such an approach to managing an organization, in which powers are delegated, has been proven.
Analysis, including managerial analysis, is one of the functions of management (Figure 1.4).
Management analysis- this is the basis of the management process, since:
1) management analysis is one of the functions of management - the management process;
2) management analysis permeates the entire management process. He precedes decisions and actions, justifies them, monitors their implementation and argues measures to improve the efficiency of the organization during subsequent decision-making;
3) analysis (in particular, managerial) as independent view professional activity can be represented in the organization by a separate regular activity of the management apparatus.
Economic management analysis in the management process acts as feedback element between the controlling and the controlled system.
Control system- a set of bodies (management of the enterprise at different levels), means, tools and management methods.
Controlled system is an economic process (most often, a production process).
Management analysis allows you to reduce the uncertainty of the initial information and the risk associated with choosing the right decision.
Success entrepreneurial activity is largely predetermined by the validity of management decisions generated by the management of the enterprise. However, often decisions made by management do not have a proper economic justification. This is explained, in our opinion, two reasons:
1) managers rely more on their organizational skills, intuition and experience than on accounting data;
2) in the organization of accounting, including internal production accounting, enterprises are guided mainly by the need to submit financial statements to the tax authorities and comply with the requirements of tax legislation in terms of recognizing certain expenses for tax purposes.
The first stage the establishment of a management system is the establishment of its standards. This is the stage of defining benchmarks against which the activity of the system will be assessed and monitored. When defining standards, the goals of the system's functioning are taken as a basis. They can be described using quantitative, qualitative and temporal variables. Typically, goals are specified in plans, programs of the system's activities.
Programs and plans are developed with the participation of analysts, whose tasks are to substantiate the planned indicators and to model the possible results of activities. Setting standards provides a starting point against which to assess the implementation of plans and progress towards the intended goal.
Once the standards have been established and activities have begun, management implements second phase - observation and verification. Examination is a set of measures aimed at ensuring regular observation and periodic inspection of the work, the process of functioning and the results of the economic system. Observation and verification gives the analyst the information he needs, and also allow you to adjust the analysis methods and tools used at the planning stage.
The analysis of the performance indicators of the organization characterizes third stage management process - measuring the actual results achieved. When comparing the achieved results with the standards established at the first stage, the scale of permissible deviations is established first of all.
Deviation size depends on:
· The characteristics of the reference standard itself. For example, a deviation from the interval value of a mandatory economic standard is unacceptable. Deviation from the established amount of risk should be within the limits set by the management of the organization, and all fluctuations are subject to strict control, since they affect the sustainability of the activity as a whole. The amount of administrative costs is less significant and, accordingly, is analyzed with less bias;
· The scale of financial and economic performance indicators. The larger the functioning system, the higher the risks and the greater the likelihood of deviations from the standards;
· The adopted system development strategy. If a company chooses to expand its market position as a strategy, then very often the definition of a decrease in profitability certain types products is a positive factor, because it enables the enterprise to sell its products to a greater extent at an acceptable price for the consumer and to occupy a large niche in the product market.
The final stage- taking necessary corrective actions - implies analysis of the relationship between the identified deviations and previous actions to implement the management process organization. The deviations identified at the third stage determine the direction of corrective actions:
· If the deviations are insignificant, management may not make adjustments;
· If deviations are significant, they can be eliminated either by bringing the actual results to the level of standards, or by adjusting the standards themselves. In both cases, a justification is provided based on the results of the conducted economic analysis;
· An extreme case of the assessment of the considered management process may be the opinion about the incorrect setting of the very goal of the activity. Then the organization's development strategy is adjusted (changing the target group of customers, their industry affiliation, changing sales markets, another business organization) or a decision is made to liquidate the business.
1.3 Directions and main stages of management analysis

Directions of management analysis directly related to the processes of production and economic activities of the organization and with the resources used in these processes.
Economic analysis always serves management purposes as a means of substantiating management decisions at all stages of an organization's activities.
Let's reflect in the form of a block diagram all the processes of production and economic activities of the organization in relation to resources.
Production and economic activities is the imposition of processes on resources. The "input" is the resources material flows... Resources go through various processes, including production. Then they "come out" in the form of results (finished products, profits, financial transactions).
The presentation of the management process in the form of blocks makes it possible to trace in detail all areas of economic analysis that occurs in each block, and more clearly track the objects of management and financial analysis.
Directions of management analysis enterprises are resource analysis (1, 2, 3) and results analysis (5, 6). If we turn to the processes of production and economic activity, then the directions of management analysis will cover the flows of the groups "A" and "B", and also partially - "C".
All other elements belong to the realm of financial analysis.
For a high-quality management analysis of all of the above areas, it must be performed, observing the following main steps.
1. Setting the goal of the analysis. Development of tasks for its implementation. Formulation and coordination of the assignment with the customer.
2. Organization of the analysis process. Issues are being resolved: coordination of tasks with the customer, determination of the circle of specialists, coordination of the terms of work, scheduling of work, determination of the form of presentation of the material.
3. Selection of the system of indicators required for this analysis.
4. Selection of information sources.
5. Processing and analysis of the information received.
6. Calculation and analytical procedures:
o assessment of the state of the issue at the time of making a management decision;
o assessment of the efficiency of the object of analysis;
o detailed analysis;
o study of cause-and-effect relationships within the object, conducting factor analysis, highlighting and systematizing the most important factors.
7. Formalization of analysis results.
8. Development of recommendations based on the results of the analysis:
o systematization of positive and negative factors in the development of the economic system;
o proposals for the search, identification and mobilization of reserves for increasing the efficiency of the economic system.
9. Variant tree. Development of the largest possible number of management decisions in accordance with the obtained analysis results.
10. Analysis of options. Comparative analysis developed options according to the established criterion (system of indicators). Choosing the best option.
11. Implementation of the selected option. Registration of the analysis results, transfer of the project to the customer, implementation of the solution.
12. Analysis of the effectiveness of management decisions:
o analysis as a continuous process of comparing performance results;
o final analysis based on the results of the solution implementation;
o analysis of the performance of the indicators of the business plan;
o correction of the decision.
The composition and content of the analysis stages are determined by the analyst based on the efficiency criterion. Applied to economic analysis efficiency can be described by the simultaneous observance following conditions:
· Sufficiency of the analysis results for making management decisions;
· Efficiency;
· Rational (reasonable) cost of the analysis.
1.4 Economic and technical-organizational features of various industries for the purposes of management analysis

Satisfaction of the whole variety of material and non-material human needs gives rise to the presence of a large number of enterprises that produce a variety of different goods, products, works, services or are engaged in their promotion to the end consumer.
Currently, all institutions, enterprises and organizations operating in Russia classified by economic activity.
Industrial enterprises can carry out their activities in the mining and processing industries.
Within the framework of extractive industries allocate:
Mining coal, brown coal and peat;
· Extraction of crude oil and natural gas, provision of services in these areas;
· Mining of uranium and thorium ores;
· Mining of metal ores;
· Extraction of other minerals.
TO processing industries relate:
· production food products including drinks and tobacco;
Textile and clothing industry;
· Wood processing and production of wood products;
· Pulp and paper production;
· Publishing and printing activities;
· Production of coke, oil products and nuclear materials;
· chemical production;
· Manufacture of rubber and plastic products;
· Manufacture of other non-metallic mineral products;
· Metallurgical production and production of finished metal products;
· Manufacture of machinery and equipment;
· production Vehicle and equipment;
· Processing of secondary raw materials;
· Production and distribution of electricity, gas and water;
· Other production.
Separate from industry are rural and forestry and the provision of services in these areas, fishing and fish farming.
In addition to the sphere of material production, there are also industries (types of activities) where enterprises perform work or provide services... This group includes construction, wholesale and retail trade, transport(land, air, water, auxiliary and additional transport activities), connection.
Other types commercial activities can be conditionally combined into a large group service companies:
· Activities of hotels and restaurants;
· Operations with real estate;
· Rent of machinery and equipment without an operator;
· Rental of household goods and personal items;
· Activities related to the use of computers and information technology;
· Research and development;
· Activities for the organization of recreation and entertainment, culture and sports;
· Provision of personal services;
· Provision of other types of services.
It should be noted that financial activities(including financial intermediation, insurance, auxiliary activities in the field of financial intermediation and insurance) although it consists in the provision of certain financial, etc. .................