Fixed capital management keywords. Money management and basics of investing
Introduction 2
1. Theoretical aspects of studying the fixed capital of an organization 5
1.1 The concept and essence of the fixed capital of an enterprise 5
1.2 Types of accounting and methods for assessing fixed capital, indicators of its use 10
1.3 Capital Efficiency 12
2. Analysis of fixed capital management on the example of Vesa LLC 18
2.1 Characteristics of the enterprise 18
2.2 Analysis of the efficiency and intensity of the use of fixed capital of the enterprise 21
Conclusion 24
References 28
Introduction
The theme of the course work is "Features of managing the fixed capital of an organization."
The relevance of the chosen topic is due to the fact that the goal of any commercial organization is to make a profit. For this, it is necessary to increase the efficiency of production, the competitiveness of products and services based on the introduction of the achievements of scientific and technical progress, effective forms of management and production management, overcoming mismanagement, enhancing initiative and entrepreneurship.
Most of the production capacity, retail space, production lines, equipment is used inefficiently. Under the current taxation procedure, this situation leads to an increase in the cost of maintaining and maintaining the existing material and technical base, an increase in the tax burden, and a decrease in the competitiveness of consumer cooperation organizations in comparison with other market entities.
Thus, fixed capital, as the most important production factor, due to the low efficiency of its use, becomes one of the sources of losses. The situation is aggravated by the high degree of depreciation of fixed assets, insufficient attention to such elements of fixed capital as intangible assets and long-term financial investments. Under these conditions, it is necessary to search for new approaches to the management of fixed assets.
Formation information society in Russia strengthens the role and importance of fixed capital as an element that contributes to the creation of conditions for the formation of a new quality of economic growth, increasing its social orientation. The changes taking place in the production forces and production relations, characterized by the formation of a knowledge-based economy, allow us to define fixed capital as an expression of an artificially created, including an intellectual system, consisting of various subsystems, structural and human capital, capable of generating income for its owner and to increase the wealth of a society that contributes to the effective development of the economic system without depleting resources, which has the ability to improve the conditions of human life, radically changing the content of his work. New technologies, which are the result of shifts in the field of R&D, and, consequently, a condition for the formation of a new technological order, change not only the natural-material content of fixed capital as an element of productive forces, they require the development of labor resources, human abilities, changes in working capital, and, therefore, , development economic relations. Changing all these elements of the economic system and their interrelation leads to the economic growth of the entire economic system.
The issues of fixed capital management, its formation and effective use are reflected in the works of domestic and foreign scientists, among them: Andreev S.I., Babkov I.A., Balabanov I.T., Blank I.A., Vakhrin P.I. ., Vorotilov V.A., Dornbush R., Ivanov E.A., Kantor E.L., Marx K., Raitsky K.A., Notkin A.I., Samuelson P., Sergeev I.V., Smagin S.N., Smith A., Fisher S., Khachaturov T.S. and etc.
The object of the course work is fixed capital.
The subject is the features of fixed capital management.
The purpose of the course work is to study the features of the management of fixed assets of the organization.
In accordance with the goal, it is necessary to solve the following tasks:
To reveal the theoretical aspects of the essence and features of fixed capital.
Consider the types of accounting and methods for assessing fixed capital, indicators of its use.
Uncover the efficiency of using fixed capital
To analyze the effectiveness of the use of fixed capital on the example of Vesa LLC.
When writing a term paper, such methods as the study and analysis of literature, analytical method, generalization method.
The theoretical basis was the educational materials of domestic and foreign authors in the field of studying fixed capital, and information from Internet servers was also analyzed.
The structure of the course work: introduction, two chapters, conclusion.
The introduction reflects the relevance of the study of the chosen topic, the goal, objectives, object and subject of research, methodology and theoretical base.
The first chapter of the course work discusses the theoretical aspects of the management of fixed assets of the enterprise.
The second chapter describes the activities of Vesa LLC and analyzes the efficiency of using the fixed capital of this organization.
The conclusion contains the results of the study, conclusions on the tasks.
1. Theoretical aspects of studying the fixed capital of an organization
1 The concept and essence of the fixed capital of an enterprise
For the implementation of economic activities, organizations use property, the component of which is fixed capital.
Fixed capital is the part of the advanced capital invested in non-current assets.
The capital stock is part financial resources(own and borrowed capital) organizations invested for the acquisition or creation of new fixed assets for production and non-production purposes. This is a materialized part of equity and borrowed capital used in the process of production and sale of products, goods, works, services in order to generate income. A significant segment of fixed capital is fixed assets (funds) - a part of property used as a means of labor in the process of manufacturing products, performing work and providing services, or for managing an organization for a period exceeding 12 months. Fixed capital also includes intangible assets, long-term financial investments that currently provide income to the organization or will generate income in the future. All listed items and fixed assets are combined in the balance sheet in section I "Non-current assets".
Fixed capital - a monetary value of fixed assets as material assets with a long period of operation.
The main capital of the enterprise can be received through the following channels:
) as a contribution to the authorized capital of the enterprise;
) as a result of capital investments;
) as a result of a gratuitous transfer;
) due to rent.
The main sources of information for the analysis of the formation and placement of capital of an enterprise are the accounting balance sheet, profit and loss statements, changes in capital, cash flows, the intended use of funds received, an appendix to the balance sheet and other forms of reporting, primary and analytical accounting data. , which decipher and detail individual balance sheet items.
The components of fixed capital are:
intangible assets;
long-term financial investments;
fixed assets.
Intangible assets of the enterprise are characterized by:
lack of material (physical) form;
long-term use;
ability to generate income.
As can be seen from this listing, the composition of intangible assets is very large. In addition, intangible assets often lead to some problems.
When accounting for intangible assets, as in the case of tangible assets, the main problematic issues are the determination of historical cost, useful life and depreciation method. The initial cost of intangible assets is usually equal to the cost of their acquisition, including legal costs and other expenses. There are cases when intangible assets are acquired in exchange for the issue of new shares. In this case, their value is estimated at the level of the market value of the issued block of shares. Intangible assets are amortized by periodically charging a portion of their cost to period costs over their useful lives.
Fixed assets - a part of the property used as a means of labor in the production of products, performance of work or provision of services, or for the management of the organization for a period exceeding 12 months. Items used for a period of less than 12 months, regardless of their value, are not related to fixed assets and are accounted for by the organization as part of the funds in circulation. Useful life - the period during which an item of property, plant and equipment generates income or serves to fulfill the objectives of the enterprise. For certain groups of fixed assets, the useful life is determined based on the number of products or other natural indicator of the amount of work expected to be received as a result of using this object.
Fixed assets include buildings, structures, working and power machines and equipment, measuring and control instruments and devices, computer equipment, vehicles, tools, production and household equipment and accessories, perennial plantings and other fixed assets. Fixed assets also include capital investments for land improvement (drainage, irrigation and other land reclamation works) and leased fixed assets. In the composition of fixed assets are also taken into account owned by the organization land and objects of nature management (water, subsoil and other Natural resources).
As part of fixed assets, enterprises reflect various material values used as means of labor in kind for a long time in the production of products, in the performance of work or the provision of services, or for the management needs of organizations. In addition, it is assumed that these funds should generate economic benefits (income) and that they are not bought for resale in the future.
Organizations use a single standard classification of fixed assets, according to which fixed assets are grouped according to the following criteria: industry, purpose, types, ownership, use.
Grouping fixed assets by industry (industry, agriculture, transport, etc.) allows you to obtain data on their value in each industry.
By appointment, the fixed assets of the organization are divided into production fixed assets of the main activity, production fixed assets of other industries, non-productive fixed assets.
By types of fixed assets of organizations are divided into the following groups: buildings, structures; working and power machines and equipment; measuring and regulating instruments and devices; Computer Engineering; vehicles; tool; production and household inventory and accessories; working, productive and breeding stock; many summer plantings; internal roads, etc.
Fixed assets also include capital investments for radical land improvement (drainage, irrigation and other land reclamation works) and leased fixed assets.
As part of fixed assets, land plots owned by the organization, objects of nature management (water, subsoil and other natural resources) are taken into account. The classification of fixed assets by type forms the basis of their analytical accounting. According to the degree of use, fixed assets are divided into those in operation, stock (reserve), stages of completion, additional equipment, reconstruction and partial liquidation, conservation. Depending on the existing rights to objects, fixed assets are divided into: belonging to the organization on the basis of ownership (including leased); located at the organization in the operational management or economic management; leased by the organization.
Long-term financial investments as part of the firm's fixed capital represent its investments on a long-term basis in government securities, shares, bonds and other securities of other enterprises. They include the firm's investments in subsidiaries and affiliates, as well as in other organizations, loans granted to organizations for a period of more than 12 months, and the cost of property transferred on a long-term lease under the right of financial leasing (i.e. with the right to buy or transfer ownership of the property at the end of the lease term).
Capital investments in progress include the costs of construction and installation works, purchase of buildings, equipment, vehicles, tools, inventory, other durable material objects, other capital works and costs for design and survey, exploration and drilling, withdrawal costs land plots and resettlement in connection with construction, etc.
1.2 Types of accounting and methods for assessing fixed capital, indicators of its use
In everyday practice, fixed assets are recorded and planned at historical cost - the cost of acquiring or creating fixed assets. Machinery and equipment are accepted on the balance sheet of the enterprise at the price of their purchase, including the wholesale price of this type of labor, the cost of delivery and other procurement costs, the cost of installation and installation.
Depreciation is calculated on the basis of historical cost, as well as fund utilization rates.
Replacement cost - the cost of reproduction of fixed assets at the time of their revaluation, i.e., it reflects the costs of acquiring and creating means of labor in prices, tariffs in force during the period of their revaluation, reproduction.
Residual value - the difference between the original cost and accrued depreciation. It allows you to judge the degree of depreciation of the means of labor, to plan the renewal and repair of fixed assets.
Liquidation value - the value of the remaining elements of fixed assets at the time of their liquidation, less the costs of their liquidation.
The result of a better use of fixed assets is, above all, an increase in the volume of production. Therefore, a generalizing indicator of the effectiveness of fixed production assets should be based on the principle of commensuration of manufactured products with the totality of fixed assets used in its production.
This will be an indicator of output per one ruble of the value of fixed assets, capital productivity. To calculate it, the formula is used:
FOTD = T / F,
where T is the volume of marketable or sold products, rub.;
F - the average annual cost of fixed production assets.
The average annual cost of fixed production assets is determined as follows:
F = F1 + (FVIN × n1) / 12 - (FSEL × n2) / 12
where F1 - the cost of fixed production assets of the enterprise at the beginning of the year, rub.;
FVVOD, FVYB - the cost of fixed production assets introduced (retired) during the year;, n2 - the number of full months from the moment of input (retirement).
The capital intensity of production is the reciprocal of capital productivity. It shows the share of the value of fixed assets attributable to each ruble of output. If the return on assets should tend to increase, then the capital intensity should tend to decrease.
The efficiency of the enterprise is largely determined by the level of capital-labor ratio, determined by the ratio of the cost of fixed production assets to the number of workers in the enterprise.
This value must continuously increase, since technical equipment and, consequently, labor productivity depend on it.
Another important indicator of the efficiency of fixed assets is the return on assets, which is the overall level of profitability of funds, which characterizes how much profit is received per ruble of fixed assets.
FR \u003d P / OPF,
where P - profit from sales, rub.;
OPF - the average annual cost of fixed assets, rub.
1.3 Efficiency in the use of fixed capital
) indicators of extensive use of fixed assets, reflecting the level of their use over time;
The indicators of extensive use of fixed assets include the coefficient of extensive use of equipment, the coefficient of shift work of equipment, the coefficient of equipment load.
The coefficient of extensive use of equipment is defined as the ratio of the actual number of hours of operation of the equipment to the number of hours of its operation according to the norm.
The equipment shift ratio is defined as the ratio of the total number of machine-shifts worked by the equipment to the number of machines.
The equipment load factor is defined as the ratio of the shift ratio of work to the planned shift of equipment.
The coefficient of intensive use of equipment is defined as the ratio of the actual performance of the equipment to the planned one.
The coefficient of integral use of equipment is defined as the product of the coefficients of extensive and intensive use of equipment and comprehensively characterizes its operation in terms of time and productivity (power). General indicators of fixed capital are capital productivity, capital intensity, capital-labor ratio, profitability of fixed production assets. The general indicators of the efficiency of the use of fixed capital include:
) production of products (goods, works, services) in comparable prices net of taxes: by 1 (100.1000) rubles. the average residual value of the entire fixed capital, including 1 (100, 1000) r. average residual value of fixed assets. At the same time, the average cost of fixed assets of the main activity, intangible assets, IBE at residual value, i.e. its real value. The average cost of each of the terms is determined as the sum of the values at the beginning and end of the year, divided by 2;
) the volume of sales of products (goods, works, services) in current prices, net of taxes, attributable to 1 (100.1000) rubles. the average residual value of the entire fixed capital, including 1 (100.1000) rubles. average residual value of fixed assets;
) profit from sales (goods, works, services) attributable to 1 (100.1000) r. average residual value of fixed capital, including 1 (100.1000) rubles. average residual value of fixed assets;
) net profit attributable to 1 (100.1000) r. of the total fixed capital, including 1 (100.1000) r. average residual value of fixed assets;
) profit from ordinary activities attributable to 1 (100, 1000) r. of the total fixed capital, including 1 (100, 1000) r. fixed assets;
) use of the average annual production capacity.
In practice and in theoretical studies as a generalizing indicator of the effectiveness of the use of fixed assets of the main type of activity, the indicator "capital productivity" is used, which shows how many rubles of products produced over a certain period of time account for a ruble of the cost of fixed production assets. This indicator is calculated by the formula:
Fo \u003d VP / Fsr,
where VP is the volume of manufactured products, thousand rubles;
Фср - the average residual value of fixed assets of the main activity, thousand rubles.
The generalizing indicators of the efficiency of the use of fixed capital also include the degree of use of production capacity. Ermolovich L.E. proposes to determine the indicators of its use (K.m.) taking into account the sold and manufactured products:
c.m. = Sold products without taxes, thousand rubles / Average annual production capacity, thousand rubles 100.
This approach to assessing the level of use of production capacity is due to market economy the fact that to determine the general indicators of the efficiency of the enterprise, the indicator of sold products is used.
Using the indicator of conditionally net production, one can determine the utilization rate of the average annual production capacity in terms of the amount of wealth created at the enterprise.
The capital-labor ratio is defined as the ratio of the value of fixed assets to the number of workers in the enterprise who worked on the shift with the largest number of working hours. The profitability of fixed production assets characterizes the amount of profit attributable to one ruble of fixed capital, and is defined as the ratio of profit to the value of funds. In addition to those listed, there are other indicators of the use of fixed assets, including indicators technical condition fixed assets, age, structure of funds, etc.
Thus, in the first chapter of the course work, the theoretical aspects of the features of fixed capital management were considered.
Fixed capital is a monetary value of fixed assets as material assets with a long period of operation.
The components of fixed capital are: intangible assets; capital investments; long-term financial investments; fixed assets.
Fixed capital management includes the analysis of the fixed capital of the enterprise, ensuring the effective use of the fixed capital of the enterprise, the formation of principles and optimization of the structure of sources of coverage of fixed capital
The financing of fixed capital comes down to two options. The first of them is based on the fact that the entire volume of this capital is financed by equity. The second option is based on mixed financing - at the expense of own and long-term borrowed capital.
2. Analysis of fixed capital management on the example of Vesa LLC
1 Characteristics of the enterprise
OOO "Vesa" is one of the enterprises in Murmansk, engaged in retail trade.
The main specialization of the enterprise under study is the sale of light industry goods. It should be noted that light industry is one of the most natural areas for the formation and development of small businesses.
In accordance with the volume of economic turnover of the enterprise and the number of its employees, the enterprise can be classified as a small business.
Organizational form of Vesa LLC is a company with limited liability.
In a limited liability company, the participants are not liable for its obligations and bear the risk of losses associated with the activities of the company, to the extent of the value of their contributions.
The company was founded by one person who is guided in its activities by the Charter, Memorandum of Association and the legislation of the Russian Federation.
The main constituent documents of Vesa LLC:
Certificate of state registration.
Certificate of entry into the Unified State Register of Legal Entities.
Certificate of registration with the tax authority.
Lease agreement (certificate of ownership).
The authorized capital of the company is formed in accordance with the provisions of the Federal Law "On Limited Liability Companies". The founder of the company is individual, whose share in the authorized capital is 100%.
The research organization employs 5 people.
The company is headed by a general director who is authorized to make all final decisions regarding the activities of Vesa LLC. Directly reporting to the director are: commercial director, Chief Accountant. The commercial director organizes the work of employees, concludes deals, purchases the necessary goods, and performs any other actions on behalf of the company by proxy of the general director.
The organizational structure of the enterprise under study is shown in Figure 2.1.
Fig. 2.1 Organizational structure of Vesa LLC
The organizational structure of the firm can be described as linear. The linear management system lies in the fact that all functional divisions of the enterprise report directly to one leader. This management system is typical for small privately owned enterprises.
The linear organizational structure belongs to the simplest type of bureaucratic structures, it embodies the principles of centralism and unity of command. The head is endowed with all kinds of powers and exercises sole leadership. The head bears full responsibility for the results of the activity of the object entrusted to him.
LLC "Vesa" refers to small businesses.
Constant updating of the range contributes to attracting new customers and retaining existing ones. Producing countries represented in the store are Italy, Germany, Russia, Poland, France, USA. The most active buyers are young women aged 20 - 35 years.
The main factors influencing the purchase of clothing are quality and price, and underwear is no exception. As a rule, a potential buyer has an income level above the average, and the most bought trade marks from producing countries such as Italy and France. The main competitors of LLC "Vesa" are stores: "New Style", "Butterfly", "Julia", "Prince".
Today, the products of Vesa LLC satisfy the interests of the market: there is a growing demand for underwear of the following well-known brands: LILLY ECLIZIA, KRIS LINE, SIELEI, COTONELLA, NATURANA.
As a rule, Internet sites of firms-suppliers, firms-manufacturers, transport companies serve as information resources for Vesa LLC.
2.2 Analysis of the efficiency and intensity of the use of fixed capital of the enterprise
fund capital accounting organizational
The main sources of information on the state of fixed capital in an organization are: form No. 1 (section 1 of the organization’s balance sheet “Fixed assets and other non-current assets”), Appendix No. 5 to the balance sheet, form No. 11 “Information on the availability and movement of fixed assets (funds ) and other non-financial assets”, inventory cards, depreciation journal, acceptance and transfer certificates, lease agreements, audit reports.
The analysis of fixed assets covers: their presence and structure, condition and movement, the labor force of funds and the effectiveness of their use.
When analyzing fixed assets, such sources of information as the annual financial report (balance sheet) and other accounting statements are used.
Calculation and analysis of performance indicators for the use of fixed assets is made in Table 2.1.
Table 2.1. Calculation and analysis of performance indicators for the use of fixed assets of Vesa LLC
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Indicators |
Change |
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1. Proceeds from the sale of products, thousand rubles. |
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2. Profit from the sale of products, thousand rubles. |
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3. Net profit, thousand rubles. |
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4. Profit of the reporting year, thousand rubles. |
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5. Average residual value of fixed assets, thousand rubles. |
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6. Indicators of the efficiency of the use of fixed assets: |
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6.1. Sales of products attributable to 1 p. fixed assets (p.1 / p.5), r. |
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6.2. Profit from the sale of products per 1 p. fixed assets (p. 2 / p. 5), r. |
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6.3. Net profit per 1 p. fixed assets (p.3 / p.5), r. |
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6.4. Profit of the reporting year for 1 p. fixed assets (line 4 / line 5), r. |
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Thus, the increase in sales proceeds led to an increase in sales by 1 p. fixed assets by 0.12 rubles, the return on fixed assets increased in 2009. in terms of profit from the sale of products from 0.30 to 0.50 rubles.
The rate of return on assets characterizes the amount of proceeds from the sale attributable to the ruble of fixed assets. The formula for calculating the return on assets is as follows:
where BP - sales proceeds, OS - average annual cost of fixed assets
Fo 2008 = 1160000/ 1450000 = 1.10.
Fo 2009 \u003d 2200000 / 1800000 \u003d 1.22.
As you can see, at the analyzed enterprise, the return on assets of fixed production assets increased by 0.12 rubles.
The capital intensity of production is the reciprocal of capital productivity. It shows the share of the value of fixed assets attributable to each ruble of output. If the return on assets should tend to increase, then the capital intensity should decrease.
The capital intensity, respectively, amounted to:
Femk.2008 = 1450000 / 1160000 = 0.90.
Fem.2009 = 1800000/2200000 = 0.82.
Capital intensity, that is, the number of fixed production assets per 1 p. the volume of production decreased by 0.08 p. and compiled in 2009. 0.82 p.
In order to increase the efficiency of the use of fixed capital, fixed production assets, it is necessary to increase the degree of their utilization, especially their active part, the effective renewal of funds (i.e., renewal on time - not earlier as long as the equipment effectively performs its functions, but not later than the standard life of the equipment and other elements of fixed capital), the use of progressive equipment, modern technologies, qualified and disciplined workers.
Conclusion
Thus, based on the above material, the following conclusions can be drawn.
The first chapter of the course work was devoted to the theoretical aspects of studying the features of managing the fixed capital of an enterprise.
Fixed capital is a monetary value of fixed assets as material assets with a long period of operation. The components of fixed capital are: intangible assets; capital investments; long-term financial investments; fixed assets.
Intangible assets include: patents, copyrights, trademarks and trademarks, licenses, privileges and technologies, organizational expenses, goodwill, research and development expenses, deferred expenses.
Capital investments (capital investment) imply making decisions on long-term, risky investment of funds in the assets of the enterprise. These decisions are made in the internal social environment of the firm and affect all aspects of the life of the enterprise (including the company's employees).
Fixed assets - a part of the property used as a means of labor in the production of products, performance of work or provision of services, or for the management of the organization for a period exceeding 12 months. Items used for a period of less than 12 months, regardless of their value, are not related to fixed assets and are accounted for by the organization as part of the funds in circulation.
Long-term financial investments as part of the firm's fixed capital represent its investments on a long-term basis in government securities, shares, bonds and other securities of other enterprises.
Fixed capital management includes the analysis of the fixed capital of the enterprise, ensuring the effective use of the fixed capital of the enterprise, the formation of principles and optimization of the structure of the sources of covering the fixed capital. Financing of the fixed capital comes down to two options. The first of them is based on the fact that the entire volume of this capital is financed by equity capital. The second option is based on mixed financing - at the expense of own and long-term borrowed capital.
The main indicators of the efficiency of the use of fixed capital can be combined into four groups:
) indicators of extensive use of fixed assets, reflecting the level of their use over time;
) indicators of intensive use of fixed assets, reflecting the level of use in terms of capacity (productivity);
) indicators of the integral use of fixed capital, taking into account the combined influence of all factors - both extensive and intensive;
) generalizing indicators of the use of fixed production assets, characterizing various aspects of the use (state) of fixed capital in the whole enterprise.
Improving the use of fixed capital in the enterprise is achieved by:
) release of the enterprise from excess fixed capital (or its lease);
) timely and high-quality implementation of planned preventive and overhauls;
) acquisition of high-quality fixed assets;
) increasing the level of qualification of service personnel;
) timely renewal of fixed assets in order to prevent excessive moral and physical deterioration;
) improving the quality of raw materials and materials;
) increasing the level of production automation;
) increasing the level of concentration, specialization and combination of production;
) introduction of new equipment and progressive technology - low-waste, waste-free, energy- and fuel-saving;
) improving the organization of production and labor in order to reduce the loss of working time and downtime in the operation of machinery and equipment.
In the second chapter of the course work, the activities of the enterprise Vesa LLC were characterized and the management of fixed capital was analyzed.
LLC "Vesa" specializing in the sale of underwear in the city of Murmansk. Constant updating of the range contributes to attracting new customers and retaining existing ones. Producing countries represented in the store are Italy, Germany, Russia, Poland, France, America. The company employs 5 people. The organizational structure is linear, which is typical for small businesses.
Analysis of the efficiency and intensity of use of the fixed capital of Vesa LLC for 2008 - 2009. showed that the increase in sales proceeds led to an increase in sales by 1 p. fixed assets by 0.12 rubles, the return on fixed assets increased in 2009. in terms of profit from the sale of products from 0.30 to 0.50 rubles.
The return on assets of fixed production assets increased by 0.12 rubles. Capital intensity, that is, the number of fixed production assets per 1 p. the volume of production decreased by 0.08 p. and compiled in 2002. 0.82 p.
It should also be noted that in Vesa LLC, production is capital-intensive, since per 1r. products account for more than 1 p. fixed production assets.
Effective management of the enterprise as a whole, quality management can increase the efficiency of using fixed capital.
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IMPROVING ASSET MANAGEMENT
AT THE ENTERPRISE L.V. Shchupak, Senior Lecturer e-mail: [email protected] K.I. Krasnov, student
e-mail: [email protected] A.I. Krasnov, student e-mail: a0801 [email protected] Voronezh State Technical University
This article, as one of the main problems of both the Russian and the world economy as a whole, highlights the problem of the optimal use of fixed capital as one of the most important components of a systematic and sustainable development, as well as selected methodological guidelines for improving its management at the enterprise.
In addition to the analysis of negative trends in managerial thought in the field of fixed capital management, Russian enterprises, the article discusses the basic provisions of a systematic approach as the most optimal method of capital management.
Various theoretical studies of both foreign and domestic authors are also considered.
Keywords: fixed capital, improvement of management at the enterprise, depreciation, fixed assets, capital, renewal and disposal of fixed capital, depreciation
IMPROVED MANAGEMENT OF FIXED CAPITAL OF THE ENTERPRISE
L.V. Schupak, Senior Lecturer e-mail: [email protected] K.I. Krasnov, Student e-mail: [email protected] A.I. Krasnov, Student e-mail: [email protected] Voronezh State Technical University
This article, as one of the main problems of both the Russian and world economy as a whole, highlights the problem of the optimal use of fixed capital as one of the most important components of systematic and sustainable development, as well as methodological guidelines for improving its management at the enterprise. In addition to the analysis of negative trends in management thought in the field of fixed capital management in Russian enterprises, the article discusses the basic provisions of the system approach as the most optimal method of capital management.
Also, various theoretical studies of both foreign and domestic authors are considered
Key words: fixed capital, improvement of management at the enterprise, depreciation, fixed assets, capital, renewal and disposal of fixed capital, depreciation
The fixed capital of the enterprise, in the majority The state of the fixed capital management system
cases, is integral part common material at Russian enterprises in the current real base of the entire property fund. It is he who is the function of the market mechanism that is able to simultaneously serve as a source of much to be desired. Acute becomes the problem of the moves of the enterprise, and its costs. Optimal wear of funds to the limit state. Such a functioning property is capable of bringing a phenomenon that is also observed in the strategically important to its owner, a positive financial result of life-supporting industries, which jeopardizes, directly and determines the effectiveness of economic security in general. Total non-functioning. Otherwise, the ownership of funds for restructuring and renewal, out of circulation, becomes an “additional burden”, aggravated by the situation of poor-quality management, undermining the overall efficiency. So, it is possible to separate, and even despite the constantly supplementing need to streamline efforts to eliminate the regulatory framework for this aspect, adjusting optimal system functioning of the os- the problem remains relevant.
new capital of the enterprise, management of its cost. In some cases, present at the enterprise
bridge . yah property management function is usually
dispersed among different management --and auxiliary divisions, forming an uncontrolled system.
© Shchupak L.V., Krasnov K.I., Krasnov A.I., 2018
The solution of this problem seems to be possible only in the process of research activities to develop management approaches in relation to the conditions of modern realities of the functioning of the Russian economy.
Also, it should be noted that the theoretical substantiation of the overall effectiveness of the application of strategies for managing the fixed capital of an enterprise is its formation using economic and mathematical models and methods that directly implement the principle of its rationality. For this reason, strategies should be aimed at a planned gradual increase in the means of labor, providing a full load.
production capacities, production of competitive products that are in demand in the market of goods and services, profit maximization.
In such a situation, it becomes possible to apply a systematic approach to the management of fixed assets.
Fixed capital consists of fixed assets, capital investments in progress, intangible assets and long-term financial investments. (table) It should be noted that considerable attention at the enterprise is primarily paid to the management of the fundamental element of fixed capital - fixed assets.
Fixed assets Intangible assets Long-term financial investments
The total set of material assets used as means of labor, functioning in a natural-material form for a long cycle in the field of material production, and in the non-productive sphere Organizational costs, patents and various forms of use rights Investments in government securities, securities in and authorized capitals of other organizations
The constituent elements of the fixed capital of the enterprise
In itself, the concept of fixed capital management is presented by many authors in a different light. So, for example, Roschektaeva U.Yu. in his work "Actual Issues of Fixed Capital Management at Enterprises of the Russian Federation" determines that "fixed capital is a series of actions and principles regarding the rational formation and effective use of fixed capital in the course of the economic activity of an enterprise" . In turn, Blank AND.A. highlights in the definition the significance of “the impact of subjects on specific objects of management”, defining the management process as “a complex of targeted managerial influences of subjects on specific objects of management that affect the size and structure of fixed capital”.
The components of the management of the fixed capital of the enterprise is the strategic and tactical planning of the production process. Strategic planning allows you to assess the trend of the general need of the enterprise in fixed capital, the volume of production, which allows you to maintain effective demand for required level taking into account external and internal economic factors of influence. Within the framework of tactical planning, opportunities are provided for achieving the set strategic objectives by identifying the needs for specific elements of fixed capital in the studied production areas. The development of a theoretical methodology, provisions for the functioning of the administrative apparatus in the field of fixed capital management will allow the formation of an optimal, effective strategy, further
the implementation of which will be able to lead to the achievement of the goal and mission of the activity.
In his work "Formation of strategies for managing the reproduction of fixed capital of an enterprise", Khlynin E.V. gives a grouping of the main reasons for the renewal of fixed capital in enterprises (Fig. 1) .
Economic need drives down production costs, obtaining a positive financial result of functioning. At the heart of the innovative need is the obsolescence indicator of fixed assets and the need for the development of the scientific and technical process. The technical reason is justified by the need to assess the technical level of fixed assets and an indicator that reflects the actual physical wear and tear of labor tools. At the heart of the social need is the desire of the entrepreneur to provide improved working conditions for his employees in order to increase labor motivation. Production - arises in connection with the need to provide production with the means of labor in the required volume to ensure its continuity. The environmental need is observed in developed economies, in the case when, under the control of the state, enterprises update their equipment fleet with environmentally friendly machines and equipment so as not to harm society and environment generally. It should be noted that this section should also include the reason for the optimal functioning of the best available technologies, which is noted by many authors who popularize this topic, for example, Karelov A.S. in the work "Assessment of the environmental and economic
production efficiency (on the example of enterprises
copper industry).
Rice. 1. The main reasons for the renewal of the fixed capital of enterprises
The main problem of managing and using the elements of fixed capital is the process of constant renewal of fixed assets, without which modernization and, as a result, further economic growth are not possible. So, to achieve the result, it becomes necessary to have sources of reproduction of fixed capital available.
In addition to the above difficulties, during management process there is a problem of the absence of a legally regulated, or insufficiently regulated, mechanism for the formation and targeted use of depreciation funds. The theory of fixed capital management, as well as the established methodological basis of accounting in production conditions, represent depreciation deductions as a fundamental source of replenishment of fixed capital, which is far from the existing established system, where given source financial resources does not play the role allotted to him. The state, in spite of such key principles organization of financial activities commercial organizations as self-financing and economic independence, should develop a common policy in the field of reproduction of fixed capital, especially when it comes to strategic sectors of management.
Due to the imperfection of the accounting system for depreciation of fixed assets, difficulties arise that do not allow timely and in full to obtain reliable information about their condition. The situation is aggravated by the problem of perception of borrowed funds as a source of replenishment of fixed capital. In practice, the administrative apparatus is not always aware of the potential threat to business entities, using borrowed funds as a means of solving many emerging problems.
Thus, one of the most important tasks of the enterprise management is the problem of organizing investment activities, namely, the formation of a structure of funds for financing a specific option series for investors' investments. In this aspect of the issue, the importance of the ratio of equity and long-term borrowed capital should be noted. In practice, each enterprise chooses for itself the optimal ratio of indicators, which can differ not only from similar enterprises of the same type, but also from the enterprise itself at different stages of its functioning, a different conjecture of financial and commodity markets.
The choice of the structure of financing the reproduction of fixed capital can be carried out according to those shown in Fig. 2 stages.
Rice. 2. The main stages of the process of optimizing the structure of financing the reproduction of fixed capital
Based on the above reasons, the overall strategy for managing the fixed capital of an enterprise must be formed taking into account the characteristics of the economic activity of the enterprise, on the fundamental principles of a systematic, integrated and dynamic approach. At the same time, it should be taken into account that the system being formed should not only characterize the state of the dynamics of changes in the fixed capital indicator within a specific state property complex and, in general, the economic condition of the enterprise, but, above all, to ensure the production of products in order to maximize consumer demand, maximize profits.
In the work of Epifanova I.N. "Problems of forming a fixed capital management system at the country's manufacturing enterprises" highlights the main stages of formation effective strategy
management of fixed assets in the enterprise. (Fig. 3) .
The reflection of the effectiveness of measures to develop corrective conditions for the use of fixed capital is also presented in the work of Israilova Z.R. "Theory and methodology of managing the fixed capital of an organization". So, such management decisions not only allow maintaining the required technical level, but also increase the volume of production without investment, reduce the cost of commercial products, reduce depreciation costs for maintenance of production, increase capital productivity and profitability. The author notes that the analysis of the effectiveness of the use of funds makes it possible to identify such additional reserves necessary for domestic production, and causing the growth of the main indicators of the enterprise's competitiveness.
Rice. 3. The main stages in the formation of an effective strategy for managing fixed capital in an enterprise
Conditionally unstable market environment puts before enterprises the issues of effective implementation of financial and economic activities, aimed at constant adaptation to new business conditions, participation in fierce competition. The solution of such problems is closely related to the effectiveness of measures to manage the fixed capital of an enterprise, the effectiveness of which depends on the development of a long-term strategy for the enterprise, adherence to accuracy in established tactical tasks, determining the need for renewal and restructuring of fixed capital, finding acceptable financial sources for renewal, rationalization of depreciation policy, an adequate assessment of the real state of machinery and equipment, maintaining an optimal level of wear and tear, as well as the search for other sources and directions for the use of investment resources. Accurate implementation of these management activities based on the general principles of a systematic approach will allow the company to take a stable place in the market, ensuring high profitability and efficiency in the long term.
Literature
1. Inevatova O. A., Bukhorbaeva A. T. Theory and problems of managing the fixed capital of an enterprise // Young scientist. - 2016. - No. 30. - S. 198-201.
2. Rozov DV Evolutionary development of the theory of fixed capital // Finance and credit. - 2013. - No. 8 (248). - With. 52-73. Abakumov R. G. Depreciation policy: essence, problems, directions of improvement // Finance and credit. - 2010. - No. 47 (335). - With. 55-59.
3. Kleiman A. V. Topical issues of fixed capital management at enterprises of the Russian Federation / A. V. Kleiman. Basic research. - No. 5-2.2014. - With. 308-313.
4. Orekhov S. A. Management of the fixed capital of an enterprise / S. A. Orekhov // Youth and science. - No. 4. - 2016. - p. 156.
5. Roschektaeva U. Yu. Topical issues of fixed capital management at enterprises of the Russian Federation / U. Yu. Roschektaeva, S. I. Kalyuzhnaya // Bulletin of IMSIT. - No. 1 (61). - 2015. - p. 41.
6. Piontkevich N. S. Theory and methodology of managing the fixed capital of an organization / N. S. Piontkevich // Proceedings of the Ural State University of Economics. - No. 5 (61). - 2015. - p. 38-43.
7. Israilova Z. R. Capital as an integral part of the company / Z. R. Israilova, Kh. I. Khatuieva // Achievements of science and education. - No. 10 (11). - 2016. - p. 37-38.
8. Khlynin E.V. Methodological approaches and principles strategic management the process of reproduction of the fixed capital of the enterprise // Izvestiya TulGu. Economic and legal sciences. - 2014. - No. 3. - p. 341-353.
9. Epifanova I. N., Malikova E. N. Problems of formation of the fixed capital management system at industrial enterprises of the country // Science and Economics. - No. 1 (33). - 2014. - p. 135-139.
10. Khlynin E. V., Korovkina N. I. Formation of a strategy for managing the reproduction of the fixed capital of an enterprise // International Journal of Applied and fundamental research. - No. 6. - 2012. - p. 62-63.
Ministry of Education of the Republic of Belarus
Ministry of Education and Science of the Russian Federation
State Institution of Higher Professional Education
Department of "Commercial activity"
COURSE WORK
By discipline: "Enterprise Economics"
On the topic: "Management of the fixed capital of an enterprise on the example of a branch of RUPP "BelAZ""
Performed:
Supervisor
Introduction
1.1 The concept and structure of fixed capital. Fixed assets, their composition and structure
1.2 Indicators of the use of fixed production assets
1.3 Depreciation and amortization of fixed assets
Conclusion
Annex A Profit and loss statement of the branch of RUPP "BelAZ" for 2007
Annex B Report on the availability and movement of fixed assets and other non-current assets of the branch of RUPP "BelAZ" for 2006
Annex B Report on the availability and movement of fixed assets and other non-current assets of the branch of RUPP "BelAZ" for 2007
Annex D Statement of cash flows of the branch of RUPP "BelAZ" for 2006
Appendix E Balance sheet of the branch of RUPP "BelAZ" for 2007..43
Annex E Balance sheet of the branch of RUPP "BelAZ" for 2008
Annex G The main target indicators for the development of the branch of RUPP "BelAZ" for 2001-2007
Introduction
Of course, for the normal functioning of the enterprise, it is necessary to have certain means and sources. The main production assets, consisting of buildings, structures, machinery, equipment and other means of labor that are involved in the production process, are the most important basis for the activity of the enterprise. Without them, nothing could have happened. Rational and economical use of fixed assets is the priority task of the enterprise.
Having a clear understanding of each element of the fixed assets in manufacturing process, about their physical and moral deterioration, about the factors that affect the use of fixed assets, it is possible to identify methods by which the efficiency of using fixed assets and production capacities of an enterprise is increased, ensuring a reduction in production costs and an increase in labor productivity.
The object of study of the course work is the machine-building enterprise of the city of Mogilev, the branch of RUPP "BelAZ".
The purpose of this course work is to study the structure of fixed capital and improve its management.
To achieve the goal, it is necessary to solve the following tasks:
Studied the structure of fixed capital, as well as the composition and structure of fixed assets; The indicators of the use of fixed production assets are considered; The indicators of the use of the BPF of a particular enterprise are analyzed; The ways of improving the management of fixed capital are revealed.
1 Fixed capital of the enterprise
1.1 The concept and structure of fixed capital. Fixed assets, their composition and structure
Fixed capital is a monetary value of non-current assets of business entities, represented by fixed assets and intangible assets as tangible assets with a long period of operation.
The structure of fixed capital is determined by specific gravity groups and subgroups of non-current assets of the organization.
Fixed assets (PF) - represent a set of tangible assets used as means of labor and acting in kind for a long time, both in the sphere of material production and in the non-production sphere and transferring their value to finished products in parts.
Fixed production assets (OPF) are fixed assets of the sphere of material production that participate in the production process for a long time, while retaining their natural form, transferring their value to finished products gradually, in parts as they are used.
Non-production PF - do not directly participate in the production process, do not transfer their value to finished product, but are on the balance sheet of the enterprise and are designed to meet the personal and cultural needs of employees (housing stock, cultural centers, children's institutions, clinics, etc.).
OPF classification:
1) According to their role in the production process, BPF are divided into:
1.1 Active part - directly affects the production, quantity and quality of products;
1.2 Passive elements that create the necessary conditions for the production process
In addition, in accounting, items that have been employed for less than a year, regardless of their cost, and low-value items, regardless of their service life, do not belong to the fixed assets.
2) According to the material-natural composition, OF are subdivided into:
2.1 Buildings - buildings that house various workshops, administrative and utility buildings necessary for a normal technological process.
2.2 Structures - include engineering and construction objects of various nature, with the help of which technical functions not related to changes in the objects of labor ( gas wells, water towers).
2.3 Transmission devices - power lines, cable lines, telephone and telegraph networks, radio communications, pipelines, oil pipelines, etc.
2.4 Machinery and equipment:
a) power machines and equipment, which include generator machines that produce energy; machines-motors (electric motors, mercury rectifiers, transformers, steam boilers, compressor units);
b) working machines and equipment - equipment used for the production of products (machines, presses, cranes).
2.5 Vehicles - mobile vehicles on the balance sheet of the enterprise, designed to move goods and employees (cars, electric locomotives, trolleys, cars; tractors).
2.6 Tool. This includes mechanized and hand tools of all kinds - measuring, cutting, pressing, jackhammers, as well as all kinds of devices - vices, cartridges.
2.7 Production equipment and accessories combine means that facilitate labor (workbenches, work tables) or contribute to its protection (fencing of machines, machine tools), as well as inventory containers, containers, etc.
The household inventory group includes office and household items: furnishings, tables, typewriters, fire-fighting items, etc.
2.8 Working and productive livestock.
2.9 Perennial plantations.
2.10 On-farm roads.
2.11 Other OF.
The characteristic features of the OPF are that they have a high cost, a long service life, function for a long period, retain their natural form during operation, transfer the value contained in them to the manufactured products gradually in parts, to the extent of wear.
Not all groups of fixed capital play the same role in the production process. If buildings and structures provide the conditions for production, then machines and equipment are directly involved in the creation of products. The ratio of individual groups of OPF in their total volume is production structure OF, in which the active and passive parts are distinguished.
3) By affiliation, OPF are divided into:
3.1 Own, which are wholly owned by the enterprise;
3.2 Rented - are the property of other business entities and are used at this enterprise in accordance with the lease agreement.
The structure of the OPF is influenced by the following factors:
Logistics and production features industries;
Forms of organization of production;
Technical level of production;
Forms of reproduction of OF;
The level of industrialization of construction;
Geography of industry location;
The nature of the products;
The volume of output.
1.2 Indicators of the use of fixed production assets (OPF)
The effectiveness of the use of fixed production assets is assessed using general and particular indicators of their use. General indicators express the end result of using the entire set of fixed assets. These include:
1) return on assets (FO) - the ratio of the cost of products manufactured using fixed production assets for the year to average annual cost these funds:
where TP (B) - commercial products, rub. (or B - proceeds from the sale of products, rubles);
OPF cost.
Return on assets characterizes the volume of production per 1 ruble invested in fixed assets.
Factors of growth in capital productivity are:
Increasing the productivity of equipment as a result of technical re-equipment and reconstruction;
Increasing the shift ratio of equipment operation;
Improved use of time and power;
Accelerating the development of newly commissioned capacities;
Reducing the cost of a unit of power;
Replacement manual labor machine.
2) capital intensity (FU) is the average annual cost of fixed production assets per 1 rub. annual output. Capital intensity is an indicator that is inverse to capital productivity and is determined by the formula:
Capital intensity is used to determine the need for fixed production assets;
3) capital-labor ratio (FW) is the ratio of the average annual cost of fixed production assets to the average number of industrial and production personnel of the enterprise:
where is the average annual number of employees of the organization.
If the productivity of labor at the enterprise grows at a faster pace compared to the capital-labor ratio, then this indicates efficient use fixed production assets of the enterprise;
4) profitability of production - the amount of profit attributable to 1 rub. the totality of funds:
Private indicators characterize the level of use of the most active part of fixed production assets - working machines and equipment. These include:
1) the coefficient of extensive loading of equipment, which characterizes the level of use of equipment over time. The coefficient of extensive use of equipment (Кext) is defined as the ratio of the actual number of hours of operation of the equipment (tf) to the number of hours of operation according to the norm (tn):
2) the shift ratio of the equipment (Ksm) characterizes its extensive use and shows how many shifts a piece of equipment has worked:
where C is the sum of worked machine shifts per day;
K - the number of installed equipment.
3) coefficient of intensive loading of equipment, which characterizes the level of use of equipment in terms of power and productivity. The coefficient of intensive use of equipment (Kint) is defined as the ratio of the actual performance of the equipment (Pf) to the standard (Pn):
4) the coefficient of integral use of equipment (Kintegrr). It is defined as the product of the coefficients of extensive and intensive use of equipment and comprehensively characterizes its operation in terms of time and productivity (power):
Low values of private indicators indicate inefficient use of equipment.
OPF have initial, residual and replacement cost.
The initial cost of the fixed assets is formed from the costs of their acquisition, construction and manufacture, including the costs of delivery, assembly and installation.
The residual value of the fixed assets is the difference between the initial cost and the amount of depreciation to which the fixed assets are subjected:
depreciation rate;
Period of operation, years.
Replacement cost - the cost of reproduction of the OF in modern conditions. It is set during the revaluation of the OPF:
where is the initial cost, rub.;
P - average annual growth rates of labor productivity;
t is the time lag (the period of time during which the invested capital does not return in the form of receipt of proceeds from the sale of products).
The average annual cost of commissioned FTFs is determined by dividing their cost by 12 and multiplying the result by the number of full months that commissioning funds will be in operation.
The average annual cost of retiring OPFs is determined by dividing their cost by 12 and multiplying the result by the number of full months remaining until the end of the year from the time of their disposal.
The main production equipment is divided into:
a) Cash - this is equipment that is on the balance sheet and included in the inventory lists of the enterprise, regardless of the state and location;
b) Installed - equipment located in industrial premises, active, inactive, in reserve and on conservation. It does not include equipment received by the enterprise, but not assembled and not put into operation;
c) Working - this is equipment that produces products.
A generalized assessment of the movement of the BPF is given by the coefficients of renewal, disposal, growth, suitability and wear (respectively, Ko; Kv; Kg; Ki).
The renewal coefficient (Ko) reflects the intensity of the renewal of the BPF:
where - the cost of the OPF received in the reporting year;
The retirement rate (Kv) characterizes the degree of intensity of the retirement of fixed assets:
where - the cost of OPF retired in the reporting year;
The technical condition of the BPF is characterized by the coefficient of validity (Kg):
where - the residual value of the OPF;
The initial cost of the OPF;
Wear factor.
The wear factor (Ki) is determined by:
where - the amount of depreciation charged;
The cost of OF at the beginning of the year.
The growth rate of fixed assets ():
where - - the cost of OPF received in the reporting year;
The cost of OPF retired in the reporting year;
CF value at the end of the year.
1.3 Depreciation and amortization of fixed assets
Wear and tear is the loss of physical and moral characteristics OPF.
Physical depreciation is the loss of fixed assets of their original production and technical qualities as a result of work or inaction. Physical depreciation in percentage terms and in value terms is established by a survey of the actual and technical condition of the object as a whole and its most important parts.
Physical wear is determined by:
where is the actual service life of the BPF;
Normative service life of the OPF;
Obsolescence - represents a premature, before the end of the physical service life, the depreciation of the OPF.
The obsolescence of the first form is determined when revaluing the OPF by comparing their full initial cost with the replacement:
where is the initial cost of OF;
Replacement cost of OF.
Obsolescence of the second form is established by comparing specifications obsolete OPF and new:
where - respectively, the performance of a new and obsolete machine.
Accounting for physical and obsolescence is necessary for the correct determination of the replacement cost of funds, their service life and replacement, depreciation rates and amounts.
Depreciation is a monetary compensation for the cost of depreciation of the fixed assets by gradually transferring their value to the products created in the production process.
The total amount of depreciation that is carried forward on manufactured products is determined as the difference between the original and salvage value of the OPF.
The objects for depreciation are the fixed assets of the enterprise used on the basis of ownership, economic management and operational management. Depreciation deductions for fixed assets are accrued from the first day of the month following the month of their registration. Depreciation is charged until the full repayment of the value of fixed assets or their write-off in connection with the termination of the right of ownership or their failure.
Depreciation as a process of transferring the value of fixed assets and intangible assets to the cost of products, works, services produced with their use in the process entrepreneurial activity, including the distribution in an equivalent way of the cost of objects between reporting periods, which together make up the useful life of each of them, the systematic inclusion of depreciation charges in the cost of production or circulation.
Service life - the period during which fixed assets or intangible assets retain their consumer properties.
The objectivity of the rate of depreciation depends on the standard service life. Standard service life - established by regulatory legal acts and/or by a commission organized to implement the depreciation policy, the period of depreciation of individual objects, OPF and/or selected groups of items of depreciable property. If the established norm is overestimated, then physical wear and tear occurs before the value of fixed capital is transferred to finished products.
Depreciable cost is the cost from which depreciation is calculated. The annual rate of depreciation is calculated as the reciprocal of the standard service life of the facility. Depreciation is calculated monthly using a straight-line and non-linear method.
The straight-line method consists in uniform depreciation accrued by years by the organization over the entire standard service life or useful life of an item of fixed assets or intangible assets. Annual rates of depreciation in the first and each of the subsequent years of the life of the facility for one owner are the same. The annual depreciation amount is determined based on the depreciable cost and the standard service life or useful life by multiplying the cost by the accepted annual linear depreciation rate. Calculation of depreciation using the straight-line method:
where - depreciation deductions;
depreciation cost;
– useful life;
depreciation rate.
The non-linear method consists in uneven depreciation over the years over the useful life of an object of fixed assets or intangible assets. The application of this method makes it possible to recover a large part (up to 60-75%) of the cost of fixed assets already in the first half of their use.
With the non-linear method, the annual amount of depreciation is calculated using the sum of the number of years method or the decreasing balance method with an acceleration factor of 1 to 2.5 times. The rate of depreciation in the first and in each of the subsequent years may be different.
The sum of the numbers of years of the useful life of the object is determined by the formula:
where is the useful life.
Under the reducing balance method, the annual amount of accrued depreciation is calculated based on the under-depreciated cost determined at the beginning of the reporting year and the depreciation rate calculated on the basis of the useful life of the object and the acceleration factor adopted by the organization.
The productive method of calculating depreciation is to calculate depreciation based on the depreciated cost of the object and the ratio of physical indicators of the volume of products produced in the current period to the resource of the object.
2 Assessment of the state and efficiency of the use of fixed capital (on the example of the branch of RUPP "BelAZ" in Mogilev)
2.1 a brief description of enterprises
Branch of the republican unitary industrial enterprise"BelAZ" was founded in accordance with the Decree of the President of the Republic of Belarus dated February 28, 2006 No. 129 URP "MoAZ named after. S. M. Kirov" based on Mogilevsky car factory named after S.M. Kirov in Mogilev as a result of joining RUPP "BelAZ" as a branch. The main activity is mechanical engineering.
Is largest enterprise in the CIS and neighboring countries by issuance automotive technology for the construction of roads, dams, career work, underground mining of ore materials and the construction of tunnels and bridges. The main types of products manufactured by the plant are: self-propelled scrapers, dump trucks, front-end loaders, bulldozers, concrete mixer trucks, semi-trailer concrete mixer trucks, underground road trains, dump trucks, mine dump trucks, underground concrete mixer trucks, self-propelled rollers, garbage trucks and electric cars.
The branch produces consumer goods, including hardware and locks, tool goods, spare parts for cars, mattresses, medical equipment and other consumer goods.
Mogilev Automobile Plant was established in 1935 as a car repair plant. Over the past period, the production profile has changed several times. In the late 30s, the Mogilev ArZ was actually defense enterprise- a significant part of his program was special orders. It was the main repair base for the automobile and armored units of the Western Special Military District. During the Great Patriotic War, the plant was evacuated to the Volga region and became part of the engine-building giant.
In the post-war period, the plant produced steam power plants, which were intended primarily for electrification and heating Agriculture and local industry. From 1955 to 1968, the plant produced electric overhead cranes and oil tankers based on GAZ vehicles, and since 1960 it switched to the production of earthmoving and automotive equipment. The transition to this production is carried out with the direct participation of the Minsk Automobile Plant, a close connection with which continues to this day.
Mogilev Automobile Plant is one of the largest manufacturers of earth-moving equipment in the CIS countries, has its own design and experimental base, develops, manufactures and markets road construction equipment and special-purpose vehicles.
The plant includes foundry, procurement, welding, tool, machining and assembly production. With thirty years of experience in the creation and production of earth-moving and transport equipment, the plant is a monopolist in the CIS countries in the development and production of self-propelled scrapers, road trains for working in underground conditions, all-wheel drive vehicles, dump trucks, airfield tractors for towing aircraft.
The plant is engaged not only in production, but also has a social and cultural complex. The main goal of the company's policy is the high quality of products, its competitiveness in the domestic and foreign markets as the basis for sustainable dynamic development, raising living standards, maintaining employment.
The main performance indicators of the enterprise are shown in table 1.
Table 1 - Key performance indicators of the Branch of RUPP "BelAZ" for 2006-2007.
In million rubles
fixed capital profit loss
As can be seen from Table 1, the enterprise is not profitable, because makes no profit and works at a loss. In 2006, the company incurred losses, which in 2007 decreased by 6.29%.
Operating and non-operating expenses increased significantly (by 290% and 176%, respectively). Operating income increased sharply - by 376%, non-operating income increased by 50%.
To date, the branch of RUPP "BelAZ" is a loss-making enterprise and requires new investments in fixed assets and the introduction of new technologies.
2.2 Analysis of the availability, composition and movement of fixed assets
In the course of this analysis, it is necessary to assess the size, dynamics and structure of the enterprise's capital investments in fixed assets, to identify the main functional features production activities analyzed business entity.
For this purpose, data are compared at the beginning and end of the reporting period for all elements of fixed assets (table 2).
Table 2 - Composition and structure of fixed assets
| Fixed asset group | For the beginning of the year | At the end of the year | Absolute deviation | |||
| Amount, million rubles | Oud. weight, % | Amount, million rubles | Oud. weight, % | Amount, million rubles | Oud. weight, % | |
| 1. OPF | 255052 | 96,43 | 267626 | 96,252 | 12574 | -0,178 |
| 1.1 buildings | 109250 | 41,305 | 122605 | 44,095 | 13355 | 2,79 |
| 1.2 structures | 10947 | 4,139 | 12065 | 4,339 | 1118 | 0,2 |
| 1.3transmitters | 2110 | 0,798 | 2273 | 0,817 | 163 | 0,02 |
| 1.4 machinery and equipment | 121778 | 46,042 | 118751 | 42,709 | -3027 | -3,333 |
| 1.5 vehicles | 4278 | 1,617 | 4458 | 1,603 | 180 | -0,014 |
| 1.6 tools, inventory and accessories | 6649 | 2,514 | 7474 | 2,688 | 825 | 0,174 |
| 2. OF other industries | 198 | 0,075 | 81 | 0,029 | -117 | -0,046 |
| 9245 | 3,495 | 10341 | 3,719 | 1096 | 0,224 | |
| 3.1 trade and catering | 1257 | 0,475 | 1396 | 0,502 | 139 | 0,027 |
| 3.2 housing | 2127 | 0,804 | 2127 | 0,765 | 0 | -0,039 |
| 3.3 health and physical education | 3626 | 1,371 | 4316 | 1,552 | 690 | 0,181 |
| 3.4education | 333 | 0,126 | 381 | 0,137 | 48 | 0,011 |
| 3.5 culture and arts | 1902 | 0,719 | 2121 | 0,763 | 219 | 0,044 |
| Total Fixed Assets | 264495 | 100 | 278048 | 100 | 13553 | - |
Comparing the data at the beginning and end of the reporting period for all elements of fixed assets, we can draw the following conclusions:
a) The largest share in the structure of fixed assets is occupied by fixed assets (96%), then by PF of service industries (3.7%), and the smallest share is by PF of other industries (0.03%).
b) During the reporting period, the share of OPF decreased (by 0.178%), due to a decrease in specific gravity machinery and equipment (by 3.3%) and vehicles (by 0.014%).
c) The share of fixed assets in other industries decreased by 0.046%.
d) The share of FAs in other sectors providing services increased by 0.22%, although the share of housing decreased by 0.04%.
The main production assets are divided into active and passive. Active BPF include machinery and equipment directly used in the performance of work, tools and vehicles. Passive include buildings and structures, transmission devices. Such detailing is necessary to identify reserves for increasing the efficiency of using fixed assets based on optimizing their structure. In this case, the ratio of the active and passive parts is of great interest, since the capital productivity, capital profitability and financial condition of the enterprise largely depend on their optimal combination. Data on the availability and movement of fixed assets can be seen in table 3.
According to Table 3, we can say that during the reporting year, the following changes occurred in the availability and structure of fixed assets: the cost of fixed assets increased by 13,553 million rubles. or by 5.12%, incl. OPF - by 12574 million rubles, while their active part decreased by 1.72%, which cannot be assessed positively, and the passive part increased by 11.93%.
PF of other industries decreased significantly - by 59%, PF providing services increased by 11.86%.
Table 3 - Analysis of the presence, movement and composition of the BPF
| Fixed asset group | Availability at the beginning of the year | Received in the reporting year | Retired in the reporting year | Availability at the end of the year | Rate of change, % | ||||||
| million rubles | share, % | Total | introduced | share of introduced | Total | liquidated |
liquidated |
million rubles | share, % | ||
| 1OPF, including: | 255052 | 96,43 | 22084 | 1649 | 91,36 | 9510 | 7854 | 97,46 | 267626 | 96,25 | 104,93 |
| active part | 132705 | 50,17 | 7460 | 1200 | 66,48 | 9482 | 7830 | 97,16 | 130683 | 47,00 | 98,48 |
| passive part | 122347 | 46,26 | 14624 | 449 | 24,88 | 28 | 24 | 0,30 | 136943 | 49,25 | 111,93 |
| 2. OF other industries | 198 | 0,07 | 9 | 0 | 0 | 126 | 126 | 1,56 | 81 | 0,03 | 40,91 |
| 3. OF other industries providing services | 9245 | 3,50 | 1175 | 156 | 8,64 | 79 | 79 | 0,98 | 10341 | 3,72 | 111,86 |
| Total fixed assets | 264495 | 100 | 23268 | 1805 | 100 | 9715 | 8059 | 100 | 278048 | 100 | 105,12 |
Of great importance is the analysis of the movement and technical condition of fixed production assets. For this, indicators such as the renewal coefficient are calculated, which characterize the share of new funds in their total value at the end of the year, the retirement rate, the growth rate, the depreciation coefficient and the shelf life coefficient, the calculation of which is presented in table 4.
Table 4 - Assessment of the movement and technical condition of the BPF
| Indicators of movement and technical condition of the BPF | Calculation algorithm | Calculation | Absolute deviation | |
| 2006 | 2007 | |||
| Refresh rate: | ||||
| fixed assets | 1788/200082 =0,0089 | 23268/278048 = 0,0837 | 0,075 | |
| OPF | 1333/190639 =0,007 | 22084/267626 =0,0825 | 0,076 | |
| active part | 1136/114707 =0,01 | 7460/130683 = 0,0571 | 0,047 | |
| passive part | 197/75932 =0,0026 | 14624/136943 = 0,1068 | 0,104 | |
| Retirement rate: | ||||
| fixed assets | 10216/192767 =0,053 | 9715/264495 = 0,0367 | -0,016 | |
| OPF | 9995/184666 =0,054 | 9510/255052 =0,0373 | -0,017 | |
| active part | 9323/122242 =0,076 | 9482/132705 = 0,0715 | -0,005 | |
| passive part | 672/63076 =0,01 | 28/122347 = 0,0002 | -0,001 | |
| Growth rate: |  |
|||
| fixed assets | (1788-10216)/ 200082=-0,042 | (23268-9715)/ 278048=0,0487 | 0,091 | |
| OPF | (1333-9995)/ 190632=-0,045 | (22084-9510)/ 267626= 0,0470 | 0,092 | |
| active part | (1136-9323)/ 114707=-0,07 | (7460-9482)/ 130683=-0,0155 | -0,086 | |
| passive part | (197-672)/ 75932=-0,006 | (14624-28)/ 136943= 0,1066 | 0,113 | |
| Wear factor: | ||||
| fixed assets | (192767-47866)/ 192767 =0,752 | (264495-88222)/ 264495=0,666 | -0,086 | |
| OPF | (184666-43375)/ 184666= 0,765 | (255052-82929)/ 255052=0,675 | -0,09 | |
| active part | (122242-7967)/ 122242 =0,935 | (132705-8218)/ 132705=0,938 | 0,003 | |
| passive part | (62424-35408)/ 62424=0,433 | (122347-74711)/ 122347=0,389 | -0,044 | |
| Validity ratio: | ||||
| fixed assets | 1-0,752=0,248 | 1-0,666=0,334 | 0,086 | |
| OPF | 1-0,765=0,235 | 1-0,675=0,325 | 0,09 | |
| active part | 1-0,935=0,065 | 1-0,938=0,062 | -0,003 | |
| passive part | 1-0,433=0,567 | 1-0,389=0,611 | 0,044 | |
As can be seen from Table 4, in 2007 the company significantly updated its fixed assets. Compared to 2006, the renewal rate increased by 0.075. The OPF renewal coefficient increased by 0.076.
In 2007, less fixed assets began to retire, and this was reflected in a decrease in the coefficient by 0.016. For fixed production assets, the coefficient decreased by 0.017, for the active part - by 0.005, and for the passive - by 0.001.
In 2007, a significant increase in fixed assets is observed (the coefficient increased by 0.091). For fixed production assets, this increase amounted to 0.092, however, for their active part, a decrease by 0086 is observed, but for their passive part, an increase by 0.113.
Having calculated the depreciation coefficient, we can conclude that the depreciation of fixed assets of the enterprise is very large. With the introduction of new fixed assets, the depreciation coefficient decreased by 0.086, the depreciation coefficient of fixed production assets decreased by 0.09. As for the depreciation coefficient of the active part of fixed assets, it increased by 0.003, while the passive part decreased by 0.044.
In 2007, fixed asset serviceability ratios showed slight changes compared to 2006, which are also associated with the introduction of new fixed assets. The shelf life of fixed assets increased by 0.086, fixed production assets - by 0.09, but the shelf life of the active part decreased by 0.003. On the passive side, the coefficient increased by 0.044
Thus, from the analysis of table 4 it can be seen that fixed assets are worn out by almost 75% and require renewal.
2.3 Analysis of the effectiveness of the use of fixed assets
The final efficiency of the use of fixed assets is characterized by indicators of capital productivity, capital intensity, capital-labor ratio and profitability. The calculation results are presented in Table 5.
Table 5 - Indicators of the effectiveness of the use of fixed assets
Table 2.5 shows that there have been significant changes in the overall performance indicators of the use of fixed assets. The capital-labor ratio increased by 39.8 million rubles. (by 48%). Return on assets increased by 0.11 million rubles. (by 78.5%). Due to the increase in capital productivity, the capital intensity of production decreased by 3.2 million rubles. (by 44%). The profitability of the OPF has increased.
3 Improving the management of fixed assets of the enterprise
For effective capital management, an enterprise needs to develop its activities in the field of investment and innovation.
The formation and use of various monetary funds to reimburse the cost of capital, its accumulation and consumption is the essence of the mechanism of financial management in the enterprise.
Regardless of whether the enterprise's capital is divided into own, borrowed, fixed or circulating, fixed or variable, it is in the process of continuous movement, taking only different forms depending on the specific stage of the circuit.
The totality of the circuits of various parts of the capital of an enterprise for a period represents its full turnover or reproduction (simple or extended).
The concept of "non-current assets" and "fixed capital" are identical. Fixed capital includes fixed assets, as well as unfinished long-term investments, intangible assets and new long-term financial investments (investments).
The cost of fixed assets is gradually repaid during their useful life through monthly depreciation charges, which are included in production or distribution costs for the corresponding reporting period.
Fixed capital also includes the cost of capital investments in progress in property, plant and equipment and the purchase of equipment. This is that part of the cost of acquiring and building fixed assets that has not yet become fixed assets, cannot participate in the process of economic activity, and therefore should not be subject to depreciation.
Long-term financial investments represent the cost of equity participation in the authorized capital in other enterprises, the purchase of shares and bonds on a long-term basis. The costs of long-term financial investments are repaid depending on the nature and type.
Financial investments also include:
Long-term loans issued to other enterprises against debt obligations;
The cost of property transferred to a long-term lease under the right of financial leasing. Leasing is a long-term lease of machinery and equipment, in which one legal entity (lessor) acquires ownership of the object of leasing for its own or borrowed funds and transfers it to another business entity (lessee) for a period and for a fee for temporary possession and use with or without the right ransom.
Making a profit today is the result of correct decisions on the proportions of capital investment in fixed and current (current) assets, taken even before the start of the enterprise's operating activities. Therefore, effective management of fixed capital requires a clear understanding of the specifics of their functioning and reproduction.
Fixed assets and long-term investments in fixed assets have a multifaceted and versatile impact on the financial condition and performance of the enterprise.
Investments in fixed capital (fixed assets) are made in the form of capital investments and include the costs of new construction, expansion, reconstruction and technical re-equipment of existing enterprises, the purchase of equipment, tools and inventory, project products and other capital expenditures. Capital investments are inextricably linked with the implementation investment projects. Investment project - substantiation of economic feasibility, volume and timing of capital investments, including the necessary documentation, as well as a description of practical actions for the implementation of investments (business plan).
Investment policy is an integral part of the overall financial strategy of an enterprise, which consists in choosing and implementing the most rational ways expansion and renewal of production capacity.
When developing an investment policy, an enterprise must be guided by the following principles:
1) Achievement of economic, scientific, technical and social effect from the activities under consideration. At the same time, specific methods for evaluating efficiency are used for each investment object. Based on the results of such an assessment, individual investment projects are selected according to the criterion of efficiency (profitability). Ceteris paribus, those that provide the enterprise with maximum efficiency are accepted for implementation.
2) Getting by the enterprise the greatest profit on invested capital with minimal investment costs.
The source of capital gains and the purpose of investments is the profit (income) received from them. In practice, the mass of profit (P) is compared with investment costs (IZ) and their effectiveness is determined.
Innovative enterprise management in its content represents a unique field of activity: knowledge from the fields of technology, economics and ecology, social psychology and sociology, fundamental and applied sciences, theory and practice, production and management, strategy and tactics are used and interacted here. Development itself becomes possible thanks to the genius of human thought, the accumulation of capital and high-quality productive labor. But it, this development, being aimed at the benefit of man, enriches labor and human thought, expands the possibilities of capital accumulation due to the increase in labor productivity and quality, and thus creates conditions for a new stage of development, ensuring its continuity.
Thus, an enterprise, in accordance with its mission and a dynamically changing external environment, needs to build goals for obtaining sustainable profits, competitive advantage and survival in the long term. Means to achieve goals, i.e. strategies, in this case, are both the intensive development of all elements of the production and economic system of the organization, and their innovative development. The first will ensure the preservation of the potential of the enterprise if there are no significant changes in the external environment, which is very rare today. The second will provide an increase in the level organizational capacity, in the case of a stable external environment, or at least its preservation if the external environment is highly dynamic.
It should also be taken into account that an enterprise can be considered successful only when it achieves its goals. Obviously, one of the main goals of the enterprise is to make a profit. In this case current efficiency the enterprise is determined by the fact that the value it creates is converted directly into profit. Every enterprise needs resources to finance its production and trade activities.
From the study, it follows that investment and innovation are the most important economic category expanded reproduction, which plays a key role in the implementation of structural changes in the economy and the formation of national economic proportions at the macro level, adequate to market forms of management.
Conclusion
In this course work, the structure of fixed capital, the composition and structure of fixed assets, indicators of the use of fixed production assets were considered, the indicators of the use of the OPF of the branch of RUPP "BelAZ" were analyzed, and ways to improve the management of fixed capital were identified.
Thus, the following conclusions can be drawn:
1) the enterprise is not profitable, because makes no profit and works at a loss. In 2006, the company incurred losses, which in 2007 decreased by 6.29%;
2) the largest share in the structure of fixed assets is occupied by fixed assets (96%), then by the fixed assets of industries providing services (3.7%) and the smallest by the fixed assets of other industries (0.03%);
3) in 2007, the company significantly updated fixed assets, they also began to retire less. In 2007, there is a significant increase in fixed assets. Depreciation of fixed assets of the enterprise is very large, they are worn out by almost 75% and require renewal.
To date, the branch of RUPP "BelAZ" is a loss-making enterprise and for effective capital management, the enterprise needs to develop its activities in the field of investment and innovation.
List of sources used
1 Economics of the enterprise: Proc. allowance / G.Z. Land. - 3rd ed., Rev. and additional - M.: New knowledge, 2006. - 512 p.
2 Titov V. I. Enterprise Economics: Textbook. - M.: Publishing and Trade Corporation "Dashkov and Co", 2004. - p.
3 Savitskaya G.V. Analysis of the economic activity of the enterprise - Mn .: "Ecoperspektiva", 1997.
4 Bashkatova E.I., Zdereva T.A., Stelmakhovsky Yu.S. Evaluation of the fixed and working capital of an enterprise - K .: Higher School, 1998 - 288 p.
5 Golovanenko S.L. Enterprise economy. -M.: Higher school, 1999 - 352p.
INTRODUCTION 4
CHAPTER 1. THEORETICAL ASPECTS OF MANAGEMENT OF THE CAPITAL OF THE ENTERPRISE 6
1.1. The concept and essence of the fixed capital of an enterprise 6
1.2. Principles and methods of fixed capital management. 8
1.3 Tasks and main stages of fixed capital management 12
CHAPTER 2. MANAGEMENT OF FIXED CAPITAL
OOO KAMENSKOE 15
2.1. Organizational and economic characteristics of Kamenskoye LLC 15
2.2. Assessment of the structure and changes in the fixed capital of Kamenskoye LLC 20
CHAPTER 3. WAYS TO IMPROVE THE WEALTH MANAGEMENT POLICY 28
3.2. Proposals for improving the capital management of OOO Kamenskoye 28
3.2 Evaluation of the effectiveness of the proposed activities 30
CONCLUSION 33
REFERENCES 35
Introduction
Capital is the stock of economic goods accumulated through savings in the form of money and real capital goods. They are involved by its owners in the economic process as an investment resource and a factor of production in order to generate income. Their work in economic system is based on market principles and is related to time, risk and liquidity factors.
The concept of non-current assets fixed capital are identical.
Fixed capital includes fixed assets, as well as outstanding long-term investments, intangible assets and new long-term financial investments.
Fixed assets at the enterprise can be received according to such channels as:
— contribution to the authorized capital of the enterprise;
- as a result of capital investments;
- as a result of a gratuitous transfer;
as a result of a lease.
For an operating enterprise, the use of fixed assets includes, first of all, the following stages:
- inventory of existing and used fixed assets in order to determine obsolete and worn-out components of fixed assets;
- assessment of the conformity of the existing technical inventory of the technology and the production enterprise;
- the choice of the volume and structure of fixed assets. Then there is a process of reinstallation of the existing technical equipment, acquisition, delivery and assembly of new technical equipment.
the main objective reproduction of fixed assets - the achievement of enterprises by fixed assets in their quantitative and qualitative composition, as well as maintaining them in working order.
In the process of reproduction of fixed assets, the following tasks are solved:
- coverage of fixed assets written off for various reasons;
- increase in the volume of fixed assets in order to expand the volume of production;
- improvement of the specific, technological and age structure of fixed assets, more precisely, an increase in the level of production.
Fixed capital in material form represents the production and technical potential of the enterprise, and in value form - the economic potential.
Therefore, the study of its impact on production, the effective parameters of its application is of practical interest.
The object of work is the fixed capital of the enterprise.
The subject of the work is the management of fixed assets.
The purpose of the work is to analyze the management of fixed capital at the enterprise Kamenskoye LLC.
To achieve this goal, it is necessary to perform the following tasks:
- to study the concept and essence of the fixed capital of the enterprise;
- to consider the principles and methods of managing fixed assets .;
— consider the tasks and main stages of fixed capital management;
- to characterize the activities of Kamenskoye LLC;
— evaluate the structure and change in the fixed capital of Kamenskoye LLC;
— develop proposals for improving capital management;
— Evaluate the effectiveness of the proposed activities.
List of sources used
1. Abramov A. E. Fundamentals of the analysis of the economic, economic and investment work of the enterprise in 2 hours.
2. Aleksandrov O.A., Egorov Yu.N. Economic analysis. — M.: Infra-M, 2011. — 288 p.
3. Basovsky L.E., Luneva A.M., Basovsky A.L. Economic analysis. - M .: Infra-M, 2008. -224 p.
4. Barylenko V.I. Analysis of economic activity. — M.: Omega-L, 2009. — 414 p.
5. Blank I.A. Financial management. - K .: Nika-center, Elga, 2009. - 528 p.
6. Burmistrova L.M. Enterprise finance. — M.: Infra-M, 2009. — 240 p.
7. Gavrilova A.N., Popov A.A. Enterprise finance. — M.: KnoRus, 2007. — 598 p.
8. Gerasimova E.B., Melnik M.V. Evaluation of the financial and economic work of the enterprise. — M.: Forum, 2008. — 193 p.
9. Efimova O. V. Financial score- M .: Accounting, 2006 - 196 p.
10. Zhideleva V.V., Kapteyn Yu.N. Enterprise Economics: Proc. allowance 2nd ed., revised. and add. — M.: Infra-M, 2009.- 133 p.
11. Eliseeva T.P., Molev M.D., Tregulova N.G. Economics and analysis of the activities of enterprises. - M .: Phoenix, 2011 . — 476 p.
12. Kazakova N.A. Economic analysis in business valuation. — M.: Business and Service, 2011. — 288 p.
13. Kovalev A.M. etc. Finances of the firm: Proc. / Kovalev A.M., Lapusta M.G., Skamay L.G. - M., 2008. - 415s.
14. Kovalev V.V., Volkova O.N. Analysis of the economic activity of the enterprise: Proc. M.: Prospekt. 2009.- 424 p.
15. Kolchina N.V. Finance of enterprises - M .: UNITY-DANA, 2008. - 447 p.
16. Kreinina M.N. The financial condition of the enterprise. Assessment methods. - M .: ICC "Dis", 2008.
17. Korobov M.Ya. Financial and economic analysis of the enterprise: Textbook. - K .: Knowledge, 2004. - 378 p.
18. Molyakov D.S., Shokhin E.I. Theory of enterprise finance: Proc. allowance. - M .: Finance and statistics, 2009. - 112 p.
19. Osipova L.V., Sinyacheva I.M. Basics commercial activities: Proc. - 2nd ed., revised. and additional - M: UNITY-DANA, 2009. - 623 p.
20. Prykin B.V. Economic analysis of the enterprise: Proc. — M.: UNITI-DANA, 2009.- 360 p.
21. Enterprise Economics / Ed. A.E. Karlika, M.L. Schuhgalter. - St. Petersburg: Peter, 2009. - 464 p.
Overall volume: 34
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- Introduction
- Chapter 1. Theoretical foundations of managing the fixed capital of an enterprise
- 1.1 The economic essence of the fixed capital of the enterprise
- 1.2 Legislative regulation of basic capital
- 1.3 Capital analysis methodology
- Chapter 2
- 2.1 Organizational characteristics of 74 Region LLC
2.2 Analysis of the composition and dynamics of the fixed capital of OOO 74 Region
2.3 Analysis of the effectiveness of fixed capital management
- Conclusion
- List of used literature
Applications
Introduction
The relevance of the study of fixed capital management is due to the fact that enterprises currently play a leading role in the economy. The performance of enterprises affects the socio-economic development of the country, since they are the source of jobs, payers of taxes and fees.
In turn, the success of the functioning of enterprises depends on the efficiency of fixed capital management. The dynamics of equity capital and the efficiency of its use are one of the most important economic indicators for external counterparties (suppliers, contractors, buyers, creditors, investors, etc.).
Fixed assets (fixed capital) are the most important component of the national wealth, the most important element of the country's economic potential.
The state, nature of reproduction and the level of use of fixed assets are the most important aspect analytical work, since fixed capital is a material expression of the scientific and technical process - the main factor in increasing the efficiency of production.
The object of the study is the limited liability company "74 Region".
The subject of the study is the fixed capital of OOO 74 Region.
The purpose of this work is to study theoretical foundations fixed capital management process, as well as the analysis and identification of existing problems in this process at 74 Region LLC.
To achieve this goal, it is necessary to solve the following tasks:
Consider the concept, economic essence and functions of fixed capital;
Explore Aspects legislative regulation fixed capital management;
Determine methodological approaches to the analysis of fixed capital management;
Conduct an analysis of the management of fixed capital of OOO 74 Region;
Describe the state of the fixed capital of the enterprise.
The study used methods such as:
Analysis of scientific literature on the research problem;
Method of observation and collection of economic documents;
Methods of analysis and synthesis, in relation to the organization;
Analysis of financial documents;
Graphic method and others.
As a methodological basis, the works of such authors as Lopatnikov L.I., Titov V.I., Chernov V.V.
- Chapter1. Theoreticalbasicsmanagementmaincapitalenterprises
- 1.1 Economicessencemaincapitalenterprises
In general, fixed capital is a means of labor involved in the production process, transferring its value to the product of production for a long time. Fixed capital is intended for the needs of the main activity of the enterprise, the period of its use is more than a year.
According to Gruzinov V.P. fixed capital is a monetary value of fixed assets as material assets with a long period of operation.
The main funds include Gruzinov V.P. Enterprise economy. 2010, p. 224. :
Buildings - a type of fixed assets, including architectural and construction objects, the purpose of which is to create conditions for work, housing, social and cultural services for the population and storage of material values;
Structures - objects of engineering infrastructure; working and power machines and equipment - small parts of capital that are used in the production of goods;
Measuring and regulating instruments and devices, computer technology.
Lopatnikov L.I. gives a more detailed definition of the term fixed capital. Fixed capital (or fixed assets) is one of the components of productive capital, fully and repeatedly used in the production of goods, transferring its value to a new product in installments over a long period and returning to the entrepreneur in cash also in installments.
Often, fixed capital is interpreted as a set of tangible assets used in the activities of an enterprise, however, in the normal course of events, not intended for consumption or conversion into cash.
The terms fixed capital and fixed assets refer to those owned by an enterprise or other economic entity material and material values that are valid for a long time. This includes buildings, structures, machinery, equipment and vehicles, working and productive livestock, etc. In the course of economic reforms in Russia, land also begins to join this list (the value of which was not previously taken into account when assessing fixed assets) Lopatnikov L.I. Economic and mathematical dictionary. 2012. S. 389.
Suslov V.I. considers that fixed capital is a part of productive capital that fully and repeatedly takes part in the production of a commodity, transfers its value to a new product in parts, over a number of periods.
Fixed capital includes that part of the advanced capital that is spent on the construction of buildings, structures, on the purchase of machinery, equipment, and tools. After the sale of the goods, it is returned in parts in cash to the entrepreneur in the form of depreciation.
Fixed capital is subject to physical and moral deterioration. Physical depreciation - the gradual loss of fixed assets representing this species capital, consumer value for natural and / or production and technological reasons. This necessitates the replacement of fixed assets after a certain period, the duration of which is determined by their ability to perform their functions.
Obsolescence occurs due to the fact that the replacement fixed assets provide a higher return (they either cost less or lead to an increase in labor productivity compared to the fixed assets used).
In the conditions of intensive scientific and technological progress, obsolescence becomes the main factor determining the time the company uses fixed assets Suslov V.I. Dictionary Innovation activity. 2010, p. 97.
Distinctive ability of fixed capital, in comparison with working capital:
The most stable part of the capital of the organization, since it is not subject to such rapid changes in terms of the level, composition and structure of placement, as the working capital of the organization;
The process of turnover of this type of capital is much slower than the turnover of working capital, and for various reasons described above, it exceeds not only the duration of one financial cycle, but also the calendar year.
With regard to the part of the fixed capital placed in capital investments until the moment they are transferred to the composition of fixed assets, it is generally impossible to talk about its turnover, that is, it will become possible only in the future
Fixed capital changes its material form and goes through the following stages:
Investment (monetary form - fixed assets) - in real assets - buildings, structures, machinery and equipment, etc., and in non-financial assets - shares, bonds;
Production (material form), consumption in the form of depreciation, the process of gradually transferring the value of the means of labor as they wear out physically and morally to the product produced with their help; the use of special funds - depreciation included in the costs of production and circulation, for simple and expanded reproduction of fixed assets;
Reimbursement - accrued depreciation is converted into cash (cost, revenue). This money is used to purchase new equipment.
The main capital includes:
fixed assets;
Intangible assets;
Profitable investments in material values;
Financial investments.
Property, plant and equipment is a piece of property used as a means of labor in the production of products, performance of work or provision of services, or for the management of the organization for a period exceeding 12 months or the normal operating cycle, if it exceeds 12 months.
In the composition of fixed assets, Volnin V.A., owned by the organization, is taken into account. Economics and finance of the enterprise. M. 2010. S. 155:
Buildings - these include the production buildings of the main and auxiliary workshops, laboratories, warehouses, garages, car depots, offices, plant management buildings, their main function is to create the necessary conditions for the placement and operation of production equipment, machines, vehicles and other equipment, as well as conditions productive work labor collectives;
Structures - mines, adits, quarries, oil and gas wells, pumping stations, bunkers and racks, cooling towers, various containers, including tanks for storing liquid and gaseous substances;
Transmission devices - product pipelines, water supply network, steam pipelines, electric network, heat supply and gasification networks, the main function of which is to ensure the transfer or movement of various types of energy, fuel and raw materials to the places of their consumption;
Machinery and equipment - power machines (electric generators, electric motors, transmission power plants, compressors and other machines), working machines and equipment, measuring and control instruments, laboratory equipment and computer technology;
Vehicles;
Tools, production and household inventory.
Intangible assets are the notional value of industrial and intellectual property and other property rights that are subject to the ownership of an enterprise.
These assets are used for a long period (over 1 year) and generate income.
The composition of intangible assets also includes the business reputation of the organization and organizational expenses (expenses associated with the formation of a legal entity recognized in accordance with founding documents part of the contribution of participants (founders) to the authorized (share) capital of the organization) Shevchuk D.A. Enterprise finance. M.: 2011. S. 97. .
Fixed capital from the point of view of the direction of its placement implies financing not only fixed assets, but also the entire set of non-current assets, including intangible assets, capital investments and long-term financial investments.
Capital investments are a set of costs for the reproduction of fixed assets, intangible and non-productive assets, improving their qualitative composition - the creation of new, reconstruction and modernization of existing facilities.
Modernization and reconstruction is usually understood as improving the quality of the characteristics of fixed assets (for example, increasing its capacity, service life, etc.). The costs of modernization and reconstruction of fixed assets are charged to an increase in their initial cost.
To study the composition of fixed assets, groupings are used according to the following criteria Grishchenko O.V. Organization finances. M. 2010. S. 154:
By sectors of the economy - fixed assets of industries that produce goods and provide services;
By forms of ownership - fixed assets that are in state, private and other types of ownership;
According to the system of participation in the production process - fixed assets directly used in the production process of products (works, services), and idle fixed assets, including those in reserve, for conservation, repair, reconstruction;
By ownership - own and leased fixed assets;
On a territorial basis - fixed assets of districts, republics, territories, regions and cities.
Rice. 1. Classification of fixed assets of the enterprise
The most common classification division of funds is their structure by areas of activity: production, functioning in material production, make up about 80% and non-production, serving the housing and communal services, health care, education, science, culture - more than 20%.
This division is of great economic importance for all levels economic management, including for the enterprise. Non-productive fixed assets on the balance sheet of the enterprise do not reproduce their value, it is lost.
Production fixed assets include objects, the use of which is aimed at systematic profit making as the main purpose of the activity. They are replenished through capital investments.
For an industrial enterprise, production fixed assets include machine tools, workshop buildings, structures, office buildings and other fixed assets with which products are manufactured Shulyak P.N. Enterprise finance. M. 2010. S. 202.
Non-productive fixed assets are durable items that serve the manufacturing plant non-productive consumption.
These funds are not directly involved in the production process, but are used for the cultural and everyday needs of the enterprise's employees. These include fixed assets of canteens, polyclinics, kindergartens, etc., which are on the balance sheet of the enterprise.
The value of these funds disappears in consumption. These funds are reproduced at the enterprise at the expense of profit.
The most important indicator of the formation of fixed assets of the enterprise is the share of their active part in the total cost. This is directly related to the production capacity of the enterprise, the volume of output, sales proceeds, etc.
Fixed assets act in two forms: natural and cost.
In natural (material) form:
Accounted for them technical staff(machines, equipment, machines, vehicles);
The volume of production capacities is determined;
The equipment balance sheet is drawn up.
Sources of data on fixed assets Finances of organizations (enterprises). Gavrilova A.N. M. 2010. S. 122:
Regular statistical reporting on the availability and movement of fixed assets
One-time statistical reporting on the revaluation of fixed assets
Business register data and sample survey data;
Form No. 1 "Balance sheet";
Form No. 5 "Appendix to the balance sheet of the enterprise" section 2 "Composition and movement of fixed assets";
Form No. 11 "Report on the presence and movement of fixed assets";
Form BM "Balance of production capacity";
Data on the revaluation of fixed assets (form No. 1 - revaluation);
Inventory cards of accounting of fixed assets;
Design and estimate documentation;
Form No. 7 "Report on stocks of uninstalled equipment";
Thus, the fixed capital of an enterprise is a part of the productive capital, which fully and repeatedly takes part in the production of a commodity, transfers its value to a new product in parts, over a number of periods.
- 1.2 LegislativeregulationbasiccapAndtala
In order to carry out business activities, the company must have certain assets. The part of this property that has a service life of more than a year is referred to as fixed assets.
In the Russian Federation, the management and accounting of fixed capital is regulated by the following normative documents Kositsyna A.A. Changes in the accounting of fixed assets // Glavbukh. 2012. №3. P.13:
The Civil Code of the Russian Federation, Part 1 FZ of February 20, 1996 No. 18 FZ (as amended on December 6, 2007 No. 232 FZ) and Part 2 of the Federal Law of August 12, 1996 No. 110 FZ (as amended on December 30, 2006 No. 276 FZ), it reflects the rights of the owner on property, on the form of contracts of sale and property insurance;
Tax Code of the Russian Federation Part 2 of the Federal Law No. 117 FZ dated 05.08.2000 (as amended as of 30.12.2006 No. 276 FZ);
Federal Law “On Accounting” No. 129 FZ dated November 21, 1996, as amended on November 3, 2006, it reflects the main provisions, concepts, tasks of accounting, requirements for it, job responsibilities of the chief accountant;
Regulation on accounting and reporting in the Russian Federation dated July 29, 1998 No. 34n (as amended on September 18, 2006 No. 116n). It additionally deciphers the concepts of the Federal Law, as well as gives the concept of fixed assets, determines the accounting for the cost of fixed assets;
Regulation on accounting "Accounting for fixed assets" (PBU 6/01), approved on 03/30/2001 No. 26n (as amended by the order of the Ministry of Finance dated 11/27/2006 No. 156n., As well as Methodological guidelines for accounting of fixed assets, approved by order of the Ministry of Finance of the Russian Federation dated October 13, 2003 No. 91.
This standard includes 6 sections: general provisions, valuation of fixed assets, depreciation of fixed assets, restoration of fixed assets, disposal of fixed assets, disclosure of information in financial statements fixed assets.
The first section clarifies what information about fixed assets held by organizations this provision applies, provides a description of the most important concepts in relation to the fixed assets considered in this Regulation.
The second section states that fixed assets are accepted for accounting at their original cost, which is the sum of the organization's actual costs for their acquisition, manufacture, construction, excluding value added tax and other reimbursable taxes.
The third section deals with the depreciation of fixed assets: in what cases it is charged, methods of depreciation calculation, the procedure for attributing depreciation to the accounting procedure.
The fourth section deals with the restoration of fixed assets: through repair, modernization and reconstruction.
The fifth section deals with the disposal of fixed assets: in cases of their sale, gratuitous transfer, write-off due to physical or moral depreciation, liquidation in case of accidents, natural disasters or other emergency situations, transfers in the form of a contribution to the authorized capital of other organizations.
The sixth section discloses information on fixed assets in the financial statements, which necessarily reflects the initial cost and the amount of accrued depreciation by groups of fixed assets at the beginning and end of the reporting year; methods of valuation of fixed assets received under contracts providing for the fulfillment of obligations by non-monetary means; fixed assets provided and received under a lease agreement, etc.
Also, the issues of accounting and use of fixed capital are regulated by:
Decree of the Government of the Russian Federation dated January 1, 2002 No. 1 “On the classification of fixed assets included in depreciation groups”, this Decree contains a list of fixed assets included in depreciation groups according to their useful life.
Order of the Ministry of Finance of the Russian Federation dated June 13, 1995 No. 49 “On approved guidelines for the inventory of property and financial obligations”;
Letter of the Ministry of Finance of the Russian Federation dated 10.10.2006 No. 07-05-06 / 247 “On the procedure for accounting for fixed assets” . This letter draws attention to the reflection of the initial cost of fixed assets that are part of the fixed capital, namely, that fixed assets are accepted for accounting at their original cost.
The order of the Ministry of Finance of the Russian Federation "On approved guidelines for the inventory of property and financial obligations" establishes the procedures for conducting an inventory of property and financial obligations of an organization and processing its results. The order consists of the following sections:
General provisions;
General rules for conducting an inventory;
Inventory Rules certain types property and financial obligations;
Compilation of collation statements for inventory;
The procedure for regulating inventory differences and registration of inventory results.
The classification of fixed assets is made in accordance with All-Russian classifier fixed assets, approved. Decree of the State Standard of the Russian Federation of December 26, 1994 No. 359 and the Classification of Fixed Assets Included in Depreciation Groups, approved. Decree of the Government of 01.01.2002 No. 1.
The main regulatory document governing the accounting of operations with intangible assets is the Accounting Regulation “Accounting for Intangible Assets” PBU (14/2000), approved by Order of the Ministry of Finance of the Russian Federation dated 10/16/2000. No. 91n.
In the course of business activities, the enterprise may temporarily release cash, which are not required to be immediately invested in the main activity of the enterprise.
The development of financial markets allows them to invest in order to generate income, that is, to invest. Existing investment opportunities vary in terms of return and risk.
Among the least risky are investments in bank deposits and government securities. It is also possible to invest in the authorized capital of other enterprises, both directly and by acquiring their shares on the secondary stock market Efimova O.V. Efficiency of property use // Economics and life. 2011. №1. S. 15.
When organizing and maintaining accounting of financial investments, it is necessary to be guided by the following regulatory documents Romashova I.B. Fixed capital management // Finance and credit. 2012. No. 5. WITH. :
federal law"On Accounting" dated November 21, 1996. No. 129-FZ;
Regulation on accounting "Accounting for financial investments" PBU 19/02, approved by Order of the Ministry of Finance of Russia dated December 10, 2002 N 126n;
Chart of accounts for accounting of financial and economic activities of enterprises, approved by order of the Ministry of Finance of the Russian Federation of October 31, 2000 No. 94n and Instructions for its application (as amended on May 7, 2003);
Regulations on accounting and financial reporting in the Russian Federation, approved by order of the Ministry of Finance of the Russian Federation dated July 29, 1998. No. 34n;
Law "On the Securities Market" dated April 22, 1996. No. 39 - Federal Law (as amended and supplemented on December 28, 2002);
Convention "On a uniform law on a bill of exchange and a promissory note" dated 07.06.30. (Geneva).
In accordance with clause 3 of PBU 19/02, financial investments include:
State and municipal securities;
Securities of other organizations in which the date and cost of redemption are determined (bonds of joint-stock companies, corporate bills and financial bills);
Contributions to the authorized (share) capital of other organizations (including subsidiaries and affiliates);
Contributions under a simple partnership agreement (with a partner organization);
Loans granted to other organizations;
Deposits in credit institutions;
Accounts receivable acquired on the basis of the assignment of the right to claim.
Financial investments do not include the following assets: treasury shares, repurchased joint stock company from shareholders for subsequent resale, promissory notes issued on the terms of commercial lending, investments of the organization in real estate, precious metals, jewelry, works of art and other valuables acquired not for normal activities Arenkov I.A. Competitive potential of the enterprise: model and development strategies // Problems of modern economics. - 2011. - No. 4 (40). - S. 18.
In 2011, the Order of the Ministry of Finance of Russia dated December 24, 2010 No. 186n changed several regulatory legal acts regulating issues of fixed capital at once.
Since 2011, the lower limit of the cost of fixed assets that can be accounted for as inventories has been doubled. Previously, such objects included fixed assets worth no more than 20,000 rubles, from this year - no more than 40,000 rubles. (clause 5 PBU 6/01 “Accounting for fixed assets”). Low-value property is not depreciated, but written off as current expenses.
Another change affected the timing of the revaluation of intangible assets. Until 2011, fixed assets and intangible assets were revalued on the first day of the year, since 2011 - on the last, that is, on December 31 (clause 15 PBU 6/01 and clause 17 PBU 14/2007 "Accounting for intangible assets"). At the same time, the results of the revaluation still need to be reflected in the statements for the corresponding year. Kositsyna A.A. Changes in the accounting of fixed assets // Glavbukh. - 2012. - No. 3. P.14.
- 1.3 Methodologyanalysisbasiccapital
Objects of fixed assets form the basis of any production, during which products are created, services are provided and work is performed. Fixed assets occupy the main share in total amount fixed capital of an economic entity. The final results of the activity of an economic entity largely depend on their quantity, cost, qualitative state, efficiency of use.
The objectives of the analysis of the state and effective use of labor means are:
Establishing the security of the enterprise and its structural divisions with fixed assets - the correspondence of the size of the composition and technical level of funds to the need for them,
Studying the composition and dynamics of fixed assets, the rate of renewal of the active part,
Determining the degree of use of fixed assets and the factors that influenced them,
Establishment of the completeness of the use of the fleet of machinery and equipment and its complexity,
Determination of the impact of the use of fixed assets on the volume of production and others economic indicators work of an economic entity,
Identification of reserves for the growth of capital productivity, increasing the volume of production and profits by improving the use of fixed assets.
The presence of fixed capital as a whole and its individual types is determined on the date and for the period. In the first case, the indicators are called momentary, in the second - average for the period, or interval.
The amount of advanced resources is expressed by the average cost of fixed capital for the period, i.e., their average balance, which is calculated by the formula of the average chronological moment series:
The measure of consumption of fixed capital is depreciation, the monetary expression of which is depreciation deductions, which are part of the value of fixed capital transferred to the finished product (commodity circulation process) in each production cycle or for a certain period Popova R.G. Enterprise finance. - St. Petersburg: Peter, 2010. S. 149.
Assessment of the level of technical condition and development of production potential begins with an analysis of the composition and movement of fixed assets. Under the composition of fixed assets understand the internal ratio of its parts - the structure.
Under the movement they mean the receipt, disposal, depreciation, replacement, renewal, increase or decrease in funds, etc. The technical level of production largely depends on changes in the structure of fixed assets, their movement.
Analysis of the structure of fixed assets allows us to evaluate their composition in terms of the degree of their use in the production process. In the course of this analysis, the data from section 3 of form No. 5 of the appendix to the annual balance sheet at the beginning and end are compared reporting period for all items of fixed assets.
The assessment of changes is carried out at the initial (replacement) cost of fixed assets. In this case, horizontal and vertical analysis is carried out.
Horizontal analysis consists in assessing the dynamics of indicators, establishing their absolute changes and growth rates. Vertical analysis is an analysis of the structure of objects Voronov V.V. Economics and finance of the enterprise. M.: RAGS, 2009. S. 88 .
The assessment of the movement of fixed capital is carried out according to the following indicators:
Admission (novelty) rate:
where F p - received capital;
F 1 - cost of capital in the reporting period.
It reflects the share of new fixed assets in all fixed assets at the end of the period.
Rate of entry:
where F in - retired capital;
F about - the cost of capital in the base period.
It shows what share in the cost of fixed assets at the beginning of the period is aimed at covering the disposal of fixed assets for the period.
Replacement ratio:
It shows the share of newly introduced fixed assets aimed at replacing retired ones.
Update intensity factor:
It reflects the amount of retired funds per unit of newly introduced objects, i.e., the number of obsolete objects that are retired as a result of the introduction of new ones.
Thus, the renovation intensity coefficient reflects the level of capital release as a result of the introduction of new technology.
This indicator characterizes the rate of technological progress. Its increase indicates a reduction in the life of the funds, the elimination of obsolete facilities.
The slowdown in the processes of renewal and elimination of obsolete fixed assets leads to an increase in the degree of their depreciation, aging of machinery, equipment and other elements of both the active part and all fixed assets.
Expansion ratio:
If the number of received fixed assets exceeds the amount of retired equipment, Kр > 0 - hence the fleet of machinery and equipment is expanding, if Kр = 0 - therefore, the fleet remains unchanged and if Kр< 0 - следовательно парк сужается.
Update scale factor:
It reflects the share of new funds in relation to the initial value. It is possible to detail the calculations according to the forms of renewal (technical re-equipment, reconstruction, expansion, etc.) Solomatin A.N. Economics, analysis and planning in a trade enterprise. SPb. 2009, p. 221.
The update period has the inverse of the update scale factor:
The stability coefficient characterizing the funds kept for further use:
Retirement rate:
The service life is determined by the reciprocal of the retirement rate:
It characterizes the actual life of fixed assets.
Assessment of the state of fixed capital reflect the coefficients of suitability, depreciation.
Validity ratio:
where F ost - the residual value of available fixed assets;
F - the initial (replacement) cost of the cash balance of fixed assets;
K and - wear coefficient.
The shelf life coefficient establishes the unworn share of fixed assets.
Wear factor:
where A - the amount of depreciation (depreciation) of fixed assets is determined as the difference between the initial (replacement) and residual value of objects, i.e. the difference between the balance of fixed assets reflected in section 3 of the appendix to the balance sheet (form No. 5) and the balance of the corresponding funds in the balance sheet (form No. 1).
The depreciation coefficient shows the share of fixed assets transferred to the product or process of commodity circulation (depreciated).
The values of the coefficients reflecting the state and movement of fixed assets are compared in dynamics and statics. Based on the horizontal and vertical assessment of their values, conclusions are drawn and management decisions are made.
The analysis of the efficiency of the use of fixed capital reflects the quality of the use of production potential, characterizes the technical level of production from the point of view of the main task of attracting capital for the production and sale of goods in order to make a profit Savitskaya G.V. Analysis of the economic activity of the enterprise. M. 2009. S. 245. .
To characterize the use of fixed capital, a system of indicators is used, which includes general and particular technical and economic indicators.
General indicators reflect the use of all fixed production assets, while private indicators reflect the use of their individual types. The most common general indicator of the use of capital is the return on assets, calculated by the formula:
where N p is the volume of sales (in industry - manufactured products, including work in progress);
The average cost of fixed assets for the period.
This indicator reflects the number goods sold(output) per unit value of fixed capital or what volume of turnover (output) the company has from the use of a unit of value of fixed assets.
When calculating it, it is desirable to exclude the cost of leased objects from the total cost of fixed assets according to section 3 of form No. 5 “Appendix to the balance sheet”. Such an exception is due to the fact that leased fixed assets do not participate in the sale of goods Titov V.I. Enterprise economy. M. 2010. S. 177. .
An increase in capital productivity means an increase in the efficiency of the use of facilities and vice versa.
The return on assets of all fixed assets depends on the return of their active part and its share in the total cost of fixed capital. In the analysis, you can determine the impact on the return on assets of these factors using the following model:
where is the average value of the active part of fixed assets for the period.
The value of the specific weight of the active part of fixed assets is calculated by the ratio:
Return on assets is a direct measure of the level of capital use. Capital intensity is the inverse of capital productivity:
This indicator reflects the amount of fixed capital per unit of sales (the volume of output in industry), i.e., the production capacity for the corresponding period. It is also called the coefficient of fixing fixed assets Efimova O.V. Efficiency of property use // Economics and life. 2011. №1. S. 13.
An important indicator of efficiency is the turnover of fixed assets. It reflects the duration of the turnover of fixed capital and is calculated by the formula:
where T is the number of days in the period.
The material and technical base of the enterprise is also evaluated by indicators of capital-labor ratio and capital equipment.
The stock-labor ratio is found by the ratio of the average annual cost of the active part of fixed assets to the average number of operational personnel of trade enterprises (salespeople, cashiers-controllers, section heads, administrators trading floor) or employees of the main production.
Capital equipment is determined by dividing the average annual cost of all fixed assets by the total average headcount workers.
The capital-labor ratio and the capital-equipment ratio show what value of the value of fixed assets is available in the process of commodity circulation (production) on average by one employee of the corresponding group of personnel.
The efficiency of the use of fixed assets is also determined by the ratio of one of the indicators of the profit of the enterprise (profit from sales, profit from financial and economic activities, gross profit, net profit to the average cost of fixed assets for the year. This indicator is called the return on fixed capital. It reflects the amount of profit received from the use of a unit cost of fixed capital.
If profitability is determined by the indicator of profit from sales, then it is desirable to exclude from the cost of fixed assets the cost of leased objects, reflected in section 3 of form No. 5 “Appendix to the balance sheet”.
In addition to the above general indicators of the use of fixed assets (capital productivity, capital intensity, depreciation capacity, capital-labor ratio, capital equipment, turnover, profitability), private technical and economic indicators of the use of equipment and enterprise premises are used.
To characterize the use of equipment, an indicator of extensive load (use over time) is used - the coefficient of extensive use of equipment:
where Tf - time of actual operation of the equipment;
T max - the maximum possible operating time of the equipment.
The intensity of the load (use by power) is determined by the intensity factor for the use of equipment:
where Mf is the actual output per unit of time of equipment operation (actually achieved productivity);
Mt - theoretical (passport) performance of the equipment.
The assessment of the use of equipment in terms of the amount of work is carried out using the integral load factor (generalizing indicator) Chernov V.V. Analysis of own capital // Problems of modern economics. 2010. №1. P. 9:
where N vf is the actual output during the actual operation of the equipment.
N in max - the maximum possible output, based on the passport performance and the maximum possible operating time.
In many organizations, in addition to their own fixed assets, they use leased funds, which is especially typical for enterprises in the sphere of circulation, hotel and tourism business and small firms that do not have enough of their own property.
Unlike own property, plant and equipment, leased items are accounted off the balance sheet, and the main cost of their use is the rent, and not the cost written off as a result of depreciation. Therefore, in the analysis of leased fixed assets, only a part of the indicators associated with the size of the enterprise area and storage capacity is usually used.
The available area (PR) is the area that the enterprise has;
The production area (Ppr) is the area on which the production process is directly carried out;
The area occupied by the equipment (Pzo) is the part of the production area directly occupied by the equipment.
On the basis of this classification, structural indicators of the use of space are determined.
Occupancy rate of the production area:
It shows the share of the area occupied by the equipment in the production area.
Occupancy rate of available area:
The general indicator of employment is the share of available space occupied by equipment. It is equal to the product of the employment rates of production and available space.
The coefficient of occupancy of the available area with equipment:
Next, you can determine the amount of sales (output) of products per 1 sq.m. one of the categories of the enterprise area classification. To do this, the volume of sold (output) products is divided into the appropriate category of areas (occupied by equipment, production, available), i.e., they determine the removal of products from 1 sq.m. analyzed area.
These indicators are connected with the indicators of space occupancy Slizkaya V.P. Control financial security enterprises in conditions of instability // Problems of the modern economy. 2009. No. 4 (24). P. 11:
The above relationship allows you to apply a factor analysis using the chain substitution method, where each of the relationships in the above formula reflects a factor that affects the return of the available area (N p / P p):
The first ratio in the factors of the expression N p / P zo is the return of the area directly occupied by the equipment;
The second ratio P zo / P pr \u003d K spr;
The third factor P pr / P p = K sp.
Using the method of chain substitutions, the factors of the expression are successively replaced in turn by the reporting values in each subsequent calculation. Then, subtracting the previous one from each subsequent calculation result, determine the corresponding influence of the factors given in the formula on the return of the available area Yarkina T.V. Finances of organizations (enterprises). M. 2011. S. 155.
At trade enterprises, the area is usually divided into general, trading, area of the trading floor. The total area of the store includes retail, working and auxiliary area. It is defined as the sum of the areas of all floors, measured within the inner surface of the outer walls, squares, mezzanines and transitions to other buildings.
The sales area of a store expresses the sum of the areas of the sales area, the halls of the ordering department and the cafeteria, the premises for providing services to customers, including the area of the showroom.
In the analysis, the ratios of the indicated areas are found according to the rule for finding the specific gravity, described for calculating the ratios of the available, production and equipment occupied area.
The growth of the area of the enterprise indicates the expansion of the material and technical base. However, here it is necessary to take into account the rules for the ratio of retail and total area. The advance in the growth of the total area in comparison with the trade area is considered irrational.
To assess the rationality of the use of the area, in addition, calculate the indicator inventory per 1 sq.m. general or storage area. The growth of this indicator indicates a more efficient use of storage space, but negatively affects the efficiency of the use of inventory (turnover).
In retail, storage operations should be reduced to zero whenever possible. For example, a store should achieve growth in sales by freeing itself, as far as possible, from storage functions that increase distribution costs. Therefore, the growth of commodity stocks per unit area may adversely affect the financial result of a retail trade enterprise Paramonov P.F. Economics of enterprises. M. 2010. S. 109.
Thus, the fixed capital (funds) is the value expression of the means of labor. The defining feature of fixed assets is the method of transferring value to the product - gradually, over a series of cycles ( production cycles), in parts as they wear. That is, the lump-sum advanced value in the authorized capital (fund) in terms of fixed capital makes a constant turnover, moving from monetary to productive, commodity and again to monetary form. This is the economic content of fixed capital.
The fixed capital is regulated by a number of regulatory legal acts, such as the “Regulations on Accounting of Fixed Assets”, approved. by order of the Ministry of Finance of the Russian Federation of March 30, 2001 No. 26n (PBU 6/01 with amendments and additions), Methodological guidelines for accounting of fixed assets approved by order of the Ministry of Finance of the Russian Federation of October 13, 2003 No. 91., Federal Law "On accounting" from 21.11.96. No. 129-FZ, Accounting Regulation "Accounting for financial investments" PBU 19/02, approved by Order of the Ministry of Finance of Russia dated 10.12.2002 N 126n; PBU 6/01 and clause 17 PBU 14/2007 “Accounting for intangible assets” and a number of others.
fixed capital economic management
- Chapter2. AnalysismanagementmaincapitalenterprisesOOO"74Region"
- 2.1 OrganizationalcharacteristicOOO"74Region"
In today's conditions, the most pressing problem in the implementation of economic activity is the correct adoption management decisions, which are formed as a result of monitoring the financial condition.
- The enterprise "74 Region" LLC was chosen as the object of the study. The company was registered on February 10, 2009 by the registrar Inspectorate of the Federal Tax Service for the Sovetsky District of Chelyabinsk. The director of the organization is Utopennikov Ivan Nikolaevich. LLC "74 Region" is located at 454091, Chelyabinsk, st. Krupskaya, 30, the main activity is "Retail trade in telecommunication equipment".
Limited Liability Company "74 Region" was established in accordance with Civil Code Russian Federation and the Federal Law "On Limited Liability Companies".
74 Region LLC owns separate property recorded on its own balance sheet, can acquire and exercise property and personal non-property rights on its own behalf, and has its own current account. The authorized capital of the company is 100 thousand rubles.
The LLC 74 Region company carries out the following activities (in accordance with the OKVED codes specified during registration):
Retail trade, except trade in motor vehicles and motorcycles, repair of household and personal items;
Other retail in specialized stores;
Specialized retail trade in office furniture (own assembly), office equipment, computers, optical instruments and photographic equipment, components for office equipment;
Delivery on order necessary equipment made in China, Taiwan, USA;
Retail trade in telecommunication equipment;
Provision of services for the provision of services from mobile operators (mobile connection, internet, mobile banking);
Service of post-terminals.
At the moment, the organization has intangible assets on its balance sheet - licensed anti-virus and office software necessary both for the employees of the enterprise and for using it as a supplement to the goods sold.
The average number of employees of the organization is 33 people.
General Director - 1 person;
Accounting - 4 people;
Deputy directors - 3 people;
Furniture assembly department - 6 people;
Equipment assembly and equipment department - 7 people;
Warehouse - 2 people;
Managers - 8 people;
Personnel department - 2 people.
The organizational structure of the enterprise is linear and is shown in Figure 2.
The simplicity of the structure entails advantages and disadvantages. Advantages:
Efficiency in making and implementing management decisions;
Relative ease of implementation of control functions;
Clearly defined responsibility.
Rice. 2. Organizational structure of 74 Region LLC
Flaws:
Disunity of horizontal links in production systems;
Many contacts with subordinates, information overload;
Increasing the number of management levels with the growth of the organization;
Structural rigidity.
The financial and economic characteristics of the enterprise are carried out on the basis of the accounting (financial) statements of 74 Region LLC for 3 years.
The analysis is carried out on the basis of an aggregated balance sheet, which is compiled by combining some elements of balance sheet items that are homogeneous in composition.
The aggregate balance sheet of 74 Region LLC is presented in table 1.
Table 1
Aggregate balance sheet of OOO 74 Region, thousand rubles
|
Fixed assets |
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|
Intangible assets |
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|
fixed assets |
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|
current assets |
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|
Accounts receivable |
|||||
|
Cash and cash equivalents |
|||||
|
Capital and reserves |
|||||
|
Authorized capital |
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|
Revaluation of non-current assets |
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|
Reserve capital |
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|
Retained earnings (uncovered loss) |
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|
long term duties |
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Borrowed funds |
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|
Estimated liabilities |
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Short-term liabilities |
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Borrowed funds |
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Accounts payable |
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|
Estimated liabilities |
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Figure 3 shows the dynamics of the aggregate balance sheet items for the period from 2009 to 2011.
Thus, during the period under study, there was an increase in all items of the aggregate balance, with the exception of long-term liabilities, which increased in the period from 2009 to 2010, and decreased in the following year.
It is possible to characterize the results of the enterprise's activities according to the data presented in Table 2.
Rice. 3. Dynamics of changes in the items of the aggregated balance sheet of OOO 74 Region
table 2
Key economic performance indicators of OOO 74 Region for 2009-2011, thousand rubles
|
Index |
Absolute change, thousand rubles |
Relative change, % |
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|
Sales proceeds |
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|
Gross profit |
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|
Revenue from sales |
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|
Profit (loss) before tax |
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|
Net profit (loss) of the reporting period |
Rice. 4. Dynamics of changes in the items of the aggregated income statement of OOO 74 Region
During the study period, indicators increased significantly net profit, profit before taxation, which indicates that 74 Region LLC has overcome financial difficulties and the company has reached a new level of development of its activities.
The main suppliers of 74 Region LLC are:
- "USN Computers" - wholesale supplier computer technology, photo-video equipment of Urumqi;
- JSC "KEN", warehouse-shop - wholesale supplier of computer, office equipment and Supplies, Moscow city;
- Computronx LLC - supplier of consumables for office and home appliances (in particular, ink for cartridges, flat cables, etc.) - Yekaterinburg;
Holding Tele2 Russia;
JSC "OSMP-Russia" - a supplier of consumables for post-terminals, directly equipment and operating programs for making mobile payments of various operators;
Company "Sitoca", "Starlighter", "LiderChina" (China) - suppliers of furniture;
Martex (Italy) - supplier of furniture, etc.
The main clients of 74 Region LLC are private individuals.
Thus, 74 Region LLC is an enterprise that carries out a wide range of activities, namely, retail trade in telecommunication goods, office equipment and furniture, maintenance of payment terminals (mainly of the Tele2 Russia operator), etc.
The organizational structure of the enterprise is linear, which is characterized by simplicity in terms of responsibility and management, at the same time there is a large burden on the director due to direct contacts with subordinates.
- 2.2 AnalysiscompositionAndspeakersbasiccapitalOOO"74Region"
To analyze the composition and dynamics of fixed capital, we will carry out a vertical and horizontal analysis constituent parts of the fixed capital (fixed funds) of OOO 74 Region.
Table 3
Horizontal analysis of the availability and movement of fixed assets for 2009-2010 (thousand rubles)
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The concept and essence of the fixed capital of an enterprise, analysis and evaluation of the effectiveness of its use. Financial and economic characteristics of the enterprise OJSC APK KAES. Measures to improve the management of fixed capital in modern market conditions.
course work, added 01/15/2014
The structure of the fixed capital of the enterprise. Credit as a form of fixed capital management. Financial condition and organizational and economic characteristics of the company. Reserves for increasing the efficiency of fixed capital management in CJSC Stepnoe.
term paper, added 08/13/2012
The concept and essence of the fixed capital of the enterprise. Normative-legal regulation of the fixed capital of an enterprise on the example of OJSC "Agrofirma Mtsensk". Sources of formation of fixed capital, assessment of its condition, movement, efficiency of use.
term paper, added 10/02/2013
Monetary valuation of fixed assets. Types of accounting and methods for assessing fixed capital, indicators of its use. Analysis of the advantages of a linear organizational structure. Analysis of the efficiency and intensity of the use of fixed capital of the enterprise.
term paper, added 11/27/2012
The meaning and essence of working capital. Analysis of the financial and economic activities of the enterprise GUP "Pharmacy". The methodology for planning, analyzing and managing the working capital of a given enterprise in terms of inventory and its application in practice.
thesis, added 08/19/2011
Essence, role and key features of fixed capital. Classification of fixed assets, methods for analyzing the effectiveness of their movement. Analysis of the efficiency of using the fixed capital of OAO "Ulan-Ude Instrument-Making Production Association".
thesis, added 05/28/2015
The concept, classification and structure of the formation of the fixed capital of the enterprise. Indicators of the effectiveness of the use of fixed assets of the enterprise (capital intensity). Analysis of the availability, structure and technical condition of the fixed capital of Temir-Arka LLP.
term paper, added 10/27/2010
The economic essence of borrowed capital. The policy of managing it in the enterprise. Methodology for assessing the use of capital as an object of management. Analysis and evaluation of borrowed capital as an object of management, ways to improve the efficiency of its use.
term paper, added 03/20/2014
The role of capital in the development of production. Analysis of the material composition of fixed capital. Sources of fixed capital formation, performance indicators of its use. Ways to improve the efficiency of the functioning of the finances of the enterprise.
term paper, added 12/30/2013
Essence and classification of the fixed capital of the limited liability company "Roving". Organizational-economic and financial-economic characteristics of the organization. Studying the state of production assets and the possibilities of their renewal.
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