Presentation analysis of the financial condition of the organization. Presentation "analysis of the financial stability of the enterprise"

Local targets financial analysis: - definition financial condition enterprises; - identification of changes in the financial condition in the spatio-temporal context; - Establishment of the main factors causing changes in the financial condition; - forecast of the main trends in the financial condition.

The objectives of the study are achieved as a result of solving a number of analytical tasks: - preview financial statements; - characteristics of the property of the enterprise: non-current and current assets; - grade financial stability; - characteristics of sources of funds: own and borrowed; - analysis of profit and profitability; - development of measures to improve financial and economic activity enterprises.

With the help of financial analysis, decisions are made on: 1) short-term financing of the enterprise (replenishment of current assets); 2) long-term financing (investment in effective investment projects and emissive securities); 3) payment of dividends to shareholders; 4) mobilization of reserves for economic growth (growth in sales and profits).

Analysis of the financial condition of the enterprise 1. Analysis of profitability (profitability). 2. Analysis of financial stability. 3. Analysis of creditworthiness. 4. Analysis of the use of capital. 5. Analysis of the level of self-financing, 6- Analysis of currency self-sufficiency and self-financing.

Profitability is the profitability (profitability) of production trading process. The level of profitability of trade enterprises, Catering is established by the ratio of profit from the sale of goods (public catering products) to the turnover.

Financially stable is such an economic entity that, due to own funds covers the funds invested in assets (fixed assets, intangible assets, working capital), does not allow unjustified receivables and payables and pays its obligations on time.

The autonomy coefficient characterizes the independence of the financial condition of an economic entity from borrowed sources of funds. It shows the share of own funds in the total amount of sources: where Ka is the coefficient of autonomy; M own funds, rub.; S and total amount sources of funds, rub.

Under the creditworthiness of an economic entity, it is understood that it has the prerequisites for obtaining a loan and repaying it on time. The creditworthiness of the borrower is characterized by its accuracy in making payments on previously received loans, the current financial condition and the ability, if necessary, to mobilize funds from various sources.

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Objectives of financial analysis Identification of changes in indicators of financial condition; Identification of factors affecting the financial condition of the enterprise; Assessment of quantitative and qualitative changes in the financial condition; Grade financial position enterprises on a certain date; Determining trends in the financial condition of the enterprise.

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Basic principles of profit distribution First-priority fulfillment of financial obligations to the state; Maximum provision at the expense of profit of the needs of expanded reproduction; Use of profits material incentives working; Direction of profit to social and cultural needs.

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Sources of formation of the property of the organization Regular and one-time receipts from the founders, participants and members; Voluntary property contributions and donations; Revenue from the sale of goods, works and services; Dividends on securities and deposits; Property income; Sources not prohibited by law.

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Factors affecting the amount of profit Prices for resources; The level of development of foreign economic relations; Socio-economic conditions for the functioning of the enterprise; Transport conditions; Volume of sales; Cost and composition of costs; The price of the output.

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Planning methods Methods Direct calculation method Analytical method Combined calculation method

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Factors influencing gross profit Factors Independent Dependent Reducing the cost of production Improving the quality of products Change in regulated prices by the state for manufactured products Increasing the efficiency of use Production Funds Influence natural conditions climatic conditions Increasing labor productivity

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Profit value Profit reflects the result entrepreneurial activity determines its effectiveness. It is used as a stimulating factor for entrepreneurial activity. Acts as a source of expanded reproduction. It is the main resource base of the enterprise.

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Taxation conditions If the company does not have benefits in the form of full exemption from paying indirect taxes, then this group of taxes is included in the price of goods and, accordingly, goes to the current account along with the proceeds from the sale of products. indirect taxes are not included in sales proceeds and are accounted for separately. To determine the tax base for certain taxes (excises) are included in revenue.

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Classification of financial stability Internal stability is such a general financial condition, in which a high result of its functioning is ensured. External stability is the stability of the economic environment within which its activities are carried out. General sustainability is the movement of cash flows, which provide a constant increase in funds and income and their excess over expenses and costs. Financial stability is such a state of its financial resources, their distribution and use, which ensures the development of an enterprise based on the growth of profits and capital while maintaining solvency and creditworthiness in an acceptable level.

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Internal factors impact on financial stability The composition and structure of products and services provided, taking into account production costs. Optimal composition and structure of assets, right choice strategies. The composition and structure of financial resources, taking into account the total mass of profit and the structure of its distribution. Funds additionally mobilized in the loan capital market.

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Stages analytical method Determination of the basic profitability by dividing the forecasted profit by the full cost of commercial products. Calculation of the volume of marketable products. It is determined by the cost of the reporting year and the definition of profit based on the basic profitability. Accounting for factors that affect the change in cost. Groups of consumers of analysis of the financial condition Managers of enterprises - It is impossible to manage an enterprise, make business decisions without knowing its financial condition. For managers, it is important to evaluate the effectiveness of their decisions, the resources used in economic activities and the financial results obtained. Owners - It is important for them to know what will be the return on investment in the enterprise, the profitability and profitability of the enterprise, as well as the level of economic risk and the possibility of losing their capital. Lenders and investors - They are interested in assessing the ability of an enterprise to implement an investment program. Suppliers - It is important for them to evaluate the payment for the delivered products, services and works performed.

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Factors in determining financial condition Fulfillment financial plan enterprises. Replenishment equity at the expense of profit. Turnover speed working capital. General tasks, goals and stages of analysis.
General assessment of the financial condition.
Liquidity assessment.
Assessment of financial stability.
Cash flows and their impact on
financial stability.
Evaluation of efficiency of use
property.

Before proceeding with the behavior of financial analysis
state of the enterprise, it is required to accurately determine
the original purpose of the analysis. The level of detail depends on the goal.
and depth of research in certain areas of analysis:
Cost structure analysis
Analysis of the structure of the balance sheet and working capital
Analysis of liquidity and financial stability
Analysis cash flow
Turnover analysis
Profitability analysis
Analysis of the performance of companies

The following types of analysis are recommended:
Express diagnostics of the enterprise
Grade financial activities enterprises
Preparation of justifications for investments

The analysis makes it possible to evaluate:
Company financial position
Property condition of the enterprise
The degree of entrepreneurial risk (the ability to repay
obligations to third parties)
Capital adequacy for current activities and long-term
investment
The need for long-term sources of financing
Ability to build capital
Rationality of use borrowed money
Company performance

Analysis principles
Evaluation of data is impossible without comparison
Inaccurate data
imprecise
results
Don't mix incompatible data
Consider Relationships
Draw your own conclusions. Make decisions

Analysis steps
collection and
Preparation
original
information
Analytical
treatment
Interpretation
results
Financial
reporting
Balance
Analytical Statistical Interviews
references
information
Form
№
Calculation of the necessary
data
Conclusions and
Recommendations
Interrelation of indicators
Possible Solutions
problems

Tasks to be solved
express diagnostics
Diagnostics is carried out to obtain a small
number of key, most informative
indicators that give an accurate and objective
picture of the financial condition of the enterprise
Express diagnostics allows you to identify pain
points in the activities of the enterprise and offer
possible ways out of critical situations

Using the proposed methods, the company
can find a solution to some account problems
own funds and resources
In the process of working on the proposed
methods of managers and specialists
various services performing analytical
functions, thinking is formed that meets
market requirements

Analysis financial indicators
Implementation Analysis
- Analysis of the structure of the income statement
- Cost analysis
Analysis of changes in items and balance sheet structure
- Asset analysis
- Analysis of liabilities
Motion analysis Money

Analysis of liquidity and financial
-
sustainability
Turnover analysis
Turnover of current assets and liabilities
The duration of the financial cycle
Performance analysis
companies
Asset turnover
Profitability of sales
Return on assets

Financial Statement Analysis
results
During the analysis of this document
Shares are calculated according to
Individual elements:
Cost price
Operating profit
Payment of interest and taxes
Net profit
Reinvested profit
This makes it possible to assess the degree
influence of individual indicators
on the final value of the net and
reinvested earnings
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
I year
II year
III year

The structure of the aggregated
balance
ASSETS
Current assets
located
in order
descending
liquidity
LIABILITIES
Current
obligations
Long term
obligations
Permanent
assets
Own
capital
located
in order
distance
repayment
debt
Joint Stock
capital
Own working capital \u003d Current assets - Current liabilities

Linking the income statement to the balance sheet (in aggregate form)
balance sheet
Gains and losses report
A
TO
T
AND
IN
S
Commercial and
management expenses
Expenses not related to
core business
Interest for
loans
Tax
And
P
A
WITH
WITH
AND
IN
S
other expenses
Dividends
Increase
assets
Increase
own
capital

Revenues from sales
Gross profit
Operating profit
Earnings before interest and taxes
Profit before taxes
Net profit
Reinvested profit

Analysis of the structure of assets
It is necessary to determine the ratio and change of articles:
Current assets
Cash
Accounts receivable
- for goods and services
- according to advances issued
- for other debtors
Stocks
- raw materials and materials
- work in progress
- finished products
Non-current (permanent) assets
- fixed assets
- intangible assets
- other non-current assets
Cash
Accounts receivable
debt
Stocks
Non-current
(permanent)
assets

Analysis of the structure of liabilities
Current
obligations
In the structure of liabilities
calculate:
Short term
obligations
short-term
loans
creditor
debt
Long-term loans
Equity
authorized capital
Extra capital
reinvested profit
Short term
loans
Creditor
debt
Long term
loans
Own
facilities

Own working capital
The amount of working capital is
difference between current assets
and current liabilities.
Current
assets
Current
obligations
Own
negotiable
facilities

Balance score
Analysis of structure changes and article changes
balance shows:
what is the value of current and permanent assets, how
their ratio changes, and also due to what they
funded
which articles are growing at a faster rate, and how
affects the structure - balance
what proportion of assets are inventory
inventories and receivables

how large is the share of own funds and in
the extent to which the company is dependent on debt
funds
what is the distribution of borrowed funds across
urgency
what proportion of liabilities is debt
before the budget, banks and labor collective

cash flows
There are cash flows:
from the main activity (operational): movement
cash in progress
production and sale of the main products
from investment activities: income and expenses from
investment and
sale of non-current assets
from financial activities: receiving and paying
loans, issue of shares, etc.

Scheme of formation of cash flows
Raw materials
unfinished
production
Salary,
expenses
Finished products
Accounts receivable
debt
Creditor
debt
Cash
facilities
operating room
profit
Depreciation

"tributaries"
"outflows"
Interest on
loans
taxes
Payout from profit
Sale
long-term
assets
Acquisition
long-term assets
Capital
construction
Sale of shares
Repayment of loans
Receipt
loans
Dividends
MAIN
ACTIVITY
INVESTMENT
ACTIVITY
FINANCIAL
ACTIVITY

cash flows
Cash flow analysis allows you to get
answers on questions:
1. What explains the difference between the received profit and
availability of cash
funds?
2. Where did the money come from and what was it used for?
3. Are funds received sufficient for maintenance?
current activity?
4. Does the enterprise have enough funds for investment
activities?
5. Is the company able to pay its current
debts?

Liquidity analysis
The liquidity of the balance sheet indicates to what extent
the company is able to pay
short-term liabilities with current assets.

general liquidity. Two other coefficients
used when deepening is required
analysis to reflect the impact of individual articles
current assets.

Coefficient
general
liquidity
Coefficient
fast
(urgent)
liquidity
Coefficient
absolute
liquidity
current assets
Current responsibility
Den. Wed va Krat. fin. invest Deb. h.
Current responsibility
Den. Wed va Krat. fin. investment
Current responsibility

Balance liquidity assessment
companies (example)
JSC "Oil and Fat Plant "Solntse"
1.1.02
1.1.03
1.1.04
Overall coefficient
liquidity
1,37
1.98
1,16
Fast
liquidity
0,88
0,51
0,29
0,01
0,02
0,01
Coefficient
absolute liquidity

1,40
1,20
1,00
0,80
0,60
0,40
0,20
1.1.02
1.1.03
Total liquidity ratio
Quick liquidity ratio
Absolute liquidity ratio
1.1.04

The dynamics of liquidity indicators speaks of
a slight decrease in overall liquidity due to
a sharp drop in the quick liquidity ratio.
This indicates the growth of low-liquid
elements (stocks) in the structure of current assets. All
this indicates an increase in the riskiness of activities
companies in terms of non-repayment of debts and reduction
real level of solvency.
In addition, it is necessary to analyze the degree
accounts receivable and inventory to receive
more realistic picture.

Financial stability assessment
Financial strength reflects the level of risk
activities of the company and dependence on borrowed
capital.
The coefficient can be used as a base
financing. Autonomy coefficients and
maneuverability of own funds allow us to give
a more detailed assessment of the capital structure.

As evaluation coefficients are used:

Coefficient
funding
Own funds
Borrowed funds
Coefficient
autonomy
Own funds
Total assets
Coefficient
maneuverability
own
funds
Own working capital
Own funds

Turnover of current assets and liabilities
turnover
accounts receivable
debt
turnover
reserves
Implementation
Cost price
Deb. debt
Stocks
turnover
creditor
debt
Cost price
Credit. debt

Turnover period
accounts receivable
debt
(Implementation period)
turnover period
reserves
Turnover period
creditor
debt
360
360
360
Obor. deb. debt
Inventory turnover
Debt recovery

financial cycle
Based on the turnover of current assets
liabilities, the duration of the financial
cycle.
It is defined as the sum of the turnover period
receivables and inventories less
the period of turnover of accounts payable.

Period
turnover
reserves
Turnover period
accounts receivable
debt
Turnover period
creditor
debt
Financial
cycle
The higher
duration
financial cycle,
the higher the need
in working capital

The period of turnover of current assets and
liabilities (example)
OJSC Solntse Oil and Fat Plant
Turnover period
(days)
Accounts receivable.
2002
37,2
85,8
117,9
Stocks
26,4
96,4
270,3
Credit. zadol.
39,8
64,9
209,3
Manufacture - commercial
cycle
23,8
117,3
178,9
2003
2004

The increase in the duration of the financial cycle in 2004 was caused by
a sharp increase in the period of inventory turnover, which is not
could be offset by a slowdown in the turnover period
accounts payable.
This is due to the stockpiling policy pursued by
enterprise management.

Periods of turnover of current assets and liabilities (days)
0,0
100,0
200,0
300,0
400,0
Stocks
Accounts receivable
debt
Creditor
debt
2004
2003
2002
financial cycle
2004
2003
2002
0,0
20,0
40,0
60,0
80,0
100,0
120,0 140,0 160,0 180,0

Asset turnover
The asset turnover ratio reflects,
how many times during the turnover period, capital
invested in company assets. The growth of this
indicator indicates an increase in the efficiency of their
use.
Another parameter that evaluates the intensity
asset utilization, is an indicator of the period
turnover in days, calculated as a ratio
the duration of the selected period to the turnover
assets for this period.

Report on
financial
results
R
E
A
L
AND
W
A
C
AND
I
Balance
(are used
medium
values ​​for
period)
A
TO
T
AND
IN
S
P
A
WITH
WITH
AND
IN
S

Profitability of sales
Revenues from sales
7 110
Production cost
Operating profit
5 434
1 676
Non-operating income and losses
1 050
Profit from activities
2 726
Interest
0
Profit before tax
Budget payments from profit
other expenses
562
- 398
Net profit
Dividends paid
0
Reinvested profit
II quarter. 2004
2 726
2 562
0
JSC "Electroinstrument"
Operating profit
Revenues from sales

Return on sales =
Operating profit
Revenues from sales
Return on sales = 23.6%
Return on sales shows
what percentage of operating profit
enterprise for a given sales volume.

Return on assets
Return on assets -
It is a comprehensive indicator that allows you to evaluate
results of the main activity of the enterprise. He
expresses the return that falls on the ruble
company assets.
Profitability
assets
=
Operating profit
Assets

To assess the influence of various factors
you can use another formula:
Profitability Profitability Turnover
=
*
assets
sales
assets

Return on assets
Plant "Electroinstrument" II quarter 2004
Profit loss statement
Revenues from sales
Operating profit
Balance (Average values ​​for the period)
7 110
1676
Profit from activities
Interest
2 726
Profit before tax
Budget payments from profit
other expenses
2 726
2 565
565
Net profit
Dividends paid
0
Current assets
7 609
Permanent assets
Current
obligations
9 283
Long term
loans
200
Own
facilities
- 398
0
78 868
Reinvested profit
operating room
profit
86 478
Assets
76 995
86 478

Profitability
=
assets
Operating profit
Assets
Profitability of sales
Profitability
= Operating profit *
assets
Revenues from sales
Asset turnover
Revenues from sales
Assets