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Reproduction of fixed assets forms sources of financing. Sources of fixed assets financing

II. Peculiarities of Accounting Operations for the Functions of the Chief Administrator, Administrator and Recipient of Federal Budget Funds

II. Measurement errors, processing of results, choice of measuring instruments.

7.2.1. Reproduction of fixed assets

The fixed assets involved in the production process gradually lose their original characteristics due to wear and tear during operation, i.e. there is physical deterioration. Along with the physical important in the management of fixed assets has obsolescence.

Due to depreciation, the functioning of fixed assets and intangible assets is limited in time, which necessitates their renewal.

The continuous process of updating fixed assets to maintain their quantitative and qualitative state, carried out through the acquisition, reconstruction, technical re-equipment, modernization and overhaul is called reproduction of fixed assets.

With simple reproduction, the cost of reimbursement for depreciation of fixed assets corresponds to the amount of accrued depreciation and provides only for the replacement of obsolete equipment and overhaul equipment. With expanded reproduction, depreciation costs exceed the amount of accrued depreciation, which makes it possible to carry out new construction, as well as the reconstruction and modernization of existing fixed assets.

The presence, movement and composition of fixed assets are presented in the reports in the form of a balance model:

Sosk \u003d Sosn + Sosp - Sosv,

where Sosk - the cost of available fixed assets at the end of the year;

Sosn - the cost of available fixed assets at the beginning of the year;

Sosp - the cost of fixed assets received in the reporting year, incl. commissioned new fixed assets;

Сav - the cost of fixed assets retired in the reporting year, incl. through liquidation or write-off.

To analyze the process of reproduction of fixed assets and the efficiency of their use, indicators such as:

the coefficient of renewal of fixed assets (Cosp / Sosk x 100);

fixed asset retirement ratio (Cosv / Sosn x 100);

return on assets (revenue from the sale of goods, works, services / average cost fixed assets in the analyzed period);

capital intensity (average cost of fixed assets / proceeds from the sale of goods, works, services);

capital-labor ratio (average annual cost of fixed assets / average annual number of employees);

profitability of fixed assets (profit / average cost of fixed assets).

The task of continuous reproduction of fixed assets is solved through depreciation, investment and tax policies.

The reproduction of fixed assets is carried out in the form of: direct investment ( capital investments); by transferring the fixed capital by the founders on account of contributions to the authorized capital; upon gratuitous transfer; through rent (leasing).

The main method of expanded reproduction of fixed capital is direct investment (capital investment). Direct investment - the cost of creating new fixed assets, expansion, reconstruction and technical re-equipment of existing ones.

The ratio of costs in these areas is called the reproduction structure of direct investment.

The ratio of costs for equipment, construction and installation works and other capital investments form the technological structure of direct investment. The technological structure of direct investment consists of three main elements: the acquisition of equipment, tools and inventory; expenses for construction and installation works; other direct investments, which include design and survey work, early implementation of measures to put the facilities under construction into operation (training personnel for the main professions of workers for enterprises under construction, etc.). In different sectors of the economy, the share of these costs in total amount direct investment is not the same. For example, in the construction of thermal power plants, metallurgical, chemical, machine-building enterprises, the bulk of direct investment is the cost of equipment. In housing and communal construction, the costs of construction and installation work predominate.

The most economically advantageous is the structure dominated (in terms of specific weight) by equipment costs.

7.2.2. Sources of private equity financing

The problems of financing direct investments include determining the procedure for providing funds, the system of spending and monitoring their targeted and effective use. Financing methods depend on the operating conditions of enterprises and are determined by the characteristics of the reproduction of fixed capital and sources of financing.

Sources, forms and methods of financing direct investments in fixed capital are determined by the nature of its participation in the production process and the specifics of construction.

Financing of direct investments can be carried out at the expense of:

own financial resources and on-farm reserves;

borrowed funds;

attracted funds received from the issue of securities, share and other contributions of legal entities and individuals;

funds received in the order of redistribution from the centralized investment funds of concerns, associations and other associations;

funds from extrabudgetary funds;

appropriations from the budgets of various levels provided on a non-refundable basis;

funds from foreign investors.

Since public investment is a means of achieving strategic economic goals in society, and commercial investment is a type of business, it becomes an important task to find a balanced combination of public and commercial interests in investment activities.

Planning sources of financing for direct investment begins with the definition of the estimated cost of construction and determining own funds that an investor may have.

Own financial resources enterprises include the initial contributions of the founders at the time of organization and part of the funds (profit) received as a result of its economic activities.

Own sources of financing direct investments are divided into two groups: sources generated from the performance of work in an economic way; sources obtained from the results of the main activity of the enterprise.

Sources generated from the performance of work in an economic way include the mobilization (immobilization) of internal resources, profit from capital works, savings from cost reduction, savings from lower equipment prices, and other sources.

The sources received as a result of the main activity of the enterprise include depreciation and profit from the main activity.

Depreciation deductions occupy the largest share in own funds directed to finance direct investments. The methodology for their determination will be discussed below. The accumulation of depreciation charges at the enterprise occurs systematically (on a monthly basis), while the elements of fixed capital do not require compensation in kind after each reproduction cycle. As a result, free cash, which can be directed to the expanded reproduction of the fixed capital of enterprises. In addition, new facilities are put into operation every year, for which depreciation is charged according to the established norms, but such facilities do not require compensation until the expiration of the standard service life.

Operating profit is an important source of direct investment financing, which links the final financial results of operations and opportunities for the development of enterprises. The amount of profit allocated to finance investments in fixed capital is determined when it is distributed in the financial plan.

With a lack of own sources of investment financing, enterprises are forced to resort to external borrowing.

Borrowed funds used to finance investments in fixed assets are, first of all, long-term bank loans. Bank loans are provided to the enterprise on the basis of a loan agreement, the loan is issued on the terms of repayment, urgency, payment, security under guarantees, pledge of real estate, pledge of other assets of the enterprise.

Before the bank confirms its confidence in the borrower in the form of a loan agreement, its legal and financial creditworthiness is checked. Legal creditworthiness means the borrower's legal capacity to sign a legally binding loan agreement. Financial creditworthiness is possessed by enterprises that are able to service the received loan within a specified period, i.e., fully return it and pay interest on it.

The Bank monitors the progress of credited activities. If the borrower fails to fulfill its obligations, the bank has the right to apply economic sanctions provided for by the loan agreement.

The sources of financing for the reproduction of fixed assets are also borrowed funds from other enterprises and loans from individual investors (individuals).

An important source of financing for direct investment is attracted funds from the financial market. The issue of securities (bonds, bills) and their placement on the financial market significantly expand the ability of enterprises to attract temporarily free funds of enterprises, organizations and citizens for investment.

In the last decade, leasing (financial lease) has been developing. Under a leasing agreement, the lessor undertakes to acquire ownership of the property stipulated by the agreement from the seller and provide this property to the lessee for a fee for temporary use for business purposes. Leasing allows enterprises to reduce the level of equity in the sources of investment financing. The object of leasing can be any movable and immovable property that, according to the current classification, is classified as fixed capital, except for property prohibited for free circulation on the market.

The leasing company leases the equipment to the enterprise, reserving the rights of the owner. If payments are not received from the tenant, then the company has the right to sell the equipment.

Such a source of borrowed funds as loans placed on a competitive basis from the federal and regional budgets, from sectoral and intersectoral off-budget funds, is gaining distribution. They are allocated mainly to finance federal, regional or sectoral targeted programs, the implementation of which will allow the concentration of financial resources on the most important areas of development of economic sectors and the social sphere. The gratuitous financing used in some cases from these sources actually turns into a source of own funds.

Another source is foreign investment. The main form of participation of foreign capital in the form of direct investment continues to be the creation of joint ventures in Russia. However, the volume of attracted investments is still small. The main problems in the process of their development are: determining the share of Russian investors in the authorized capital of newly created enterprises and, accordingly, in the distribution of profits, as well as the actual market valuation buildings, structures, equipment and land invested as the Russian part of the authorized capital of commercial organizations with foreign investments.

The choice of sources of financing of fixed capital should be decided by enterprises, taking into account many factors: the cost of capital raised and the efficiency of return on it; ratio of own and borrowed capital, which determines the level financial independence enterprises; the degree of risk of various sources of financing; economic interests of owners, investors, creditors, etc.

7.2.3. Sources of financing for the repair of fixed assets

The repair of fixed assets, being an element of simple reproduction, lengthens their service life, increases productivity, and reduces the need for direct investment in the creation of new fixed assets. There are the following types of repair; current, medium and capital.

At current repair small damages are eliminated, individual parts are replaced. As a rule, it is random.

Medium, or scheduled preventive maintenance is associated with the replacement of individual elements, parts and assemblies, checking the operation of all units. Average repairs can be carried out several times a year.

During the overhaul of machinery and equipment, carried out at intervals of more than a year, as a rule, the unit is disassembled, worn parts and assemblies are replaced or restored, and basic parts are repaired. Overhaul of buildings and structures provides for the replacement of worn-out structures and parts with stronger and more economical ones that improve the performance of the repaired facilities.

The economic feasibility of a major overhaul is determined by comparing the cost of a major overhaul with the cost of the repaired facilities. If a major overhaul is not economically feasible, then the funds allocated for its implementation can be used to purchase machinery and equipment to replace obsolete and out-of-service ones.

Enterprises independently determine both the total volume of repair work and their structure by type. The repair plan is drawn up for the year as a whole for the enterprise on the basis of cost estimates for the repair of individual facilities, taking into account the current norms, prices, tariffs, and is approved by the head of the enterprise.

All enterprises, regardless of subordination and forms of ownership, include the costs of all types of repair of fixed assets in the cost of production and sales of products. Enterprises are also given the right to independently choose the option of attributing repair costs to the cost price. They can:

include in the cost of the actual cost of repairs immediately after its implementation. This method has a number of disadvantages. If the enterprise has seasonal fluctuations in carrying out repair work, then it will have significant fluctuations in the cost for individual periods, which in turn will complicate the calculation of profits and the determination of payments to the budget;

create a repair fund (cash reserve). Enterprises, on the basis of technical and economic calculations, determine the total amount of repair work and the rate of formation of the repair fund. The norms of deductions to the repair fund should also take into account the costs of equipment modernization, if it is not carried out during reconstruction and technical re-equipment. In this case, the costs of modernizing fixed assets are covered by direct investment financing sources. On the basis of the approved norms, enterprises monthly accrue the repair fund and include it in the cost of products (works, services) in equal shares, while the funds from this fund are spent as needed. This brings a certain stability to the formation of costs for the production and sale of products and profits of the enterprise;

to attribute, if necessary, the actual costs of repairing fixed assets to deferred expenses with their subsequent monthly write-off to production costs.

It should be noted that the financing of all types of repair of non-productive elements of fixed capital is made from the profit remaining at the disposal of the enterprise.

To finance repair, enterprises can attract short-term bank loans in cases where the volume of repair work in certain periods of the year exceeds the size of its financing sources, i.e., there is a so-called seasonal gap.

The procedure for financing repairs mainly depends on the method of its implementation. With the contract method of performing repair work, settlements between the contractor and the customer are made for the completed stages of work or the facility as a whole on the basis of contracts to which certificates of acceptance of work performed are attached.

Calculations for repairs carried out by an economic method are made, as a rule, for individual cost elements (payment wages, payroll, payment for materials, parts and other expenses).

Depreciation of fixed assets: concept, role in recovery manufacturing process and methods of its accrual in the accounting and tax accounting of Russia.

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INTRODUCTION

The material and technical base of any enterprise, which primarily includes fixed assets (often referred to in the economic literature and in practice as fixed assets) is one of the most important factors in any production. Its condition and effective use directly affects the final results. economic activity enterprises.

Of course, in order 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 company's activities. Without them, nothing could have happened. Naturally, for the normal functioning of each enterprise, not only fixed assets are necessary, but also working capital, representing, first of all, the funds that are used by the enterprise for the acquisition of working capital and circulation funds.

In conditions market economy most firms are private, and nearly all the capital needed to keep these firms running comes from private sources. The Russian economy is rapidly moving towards the market, industrial enterprises are mostly privatized, so many companies are faced with a completely new situation for themselves, when they can no longer ask for help from the state, but must look for other sources of financing. This means that those companies that will succeed will be those that learn how to find access to private capital, that is, learn to recognize the factors that determine the “attractiveness” of a company for investors, and understand what responsibility a company has to its investor. In addition, companies will need to know where to find investors and how to present their proposals to them.

In order to maintain, at least at the initial level, the capacity of an existing enterprise, it is necessary to periodically invest in modernization, medium-term and overhaul of equipment, reconstruction of production, and replacement of physically unusable fixed assets.

The reproduction of fixed capital in enterprises can be carried out either through direct investment, or by transferring fixed capital objects by the founders on account of contributions to the authorized capital, or through a gratuitous transfer by legal and individuals. The main method of expanded reproduction of fixed capital is direct investment (capital investment).

Fixed assets participate in the production process for a long time, serve a large number of production cycles and, gradually wearing out in the production process, partly transfer their value to manufactured products, while maintaining their natural form. This feature of fixed assets makes it necessary to use them as efficiently as possible.

The main task term paper should be considered the search for problems of reproduction of fixed assets of the enterprise and ways to solve these problems.

The topic of this course work - "Sources of financing the reproduction of fixed assets, their composition and structure" is very relevant, since a properly organized accounting and analysis reveal the state of security of the enterprise and its structural divisions fixed assets, determine the composition and technical level of funds, as well as the need for them; study technical condition fixed assets and a number of other important issues relating to fixed assets.

A correctly and competently conducted analysis gives an idea of the state of the material and technical base, and of its wear and tear. Once again, we note that fixed assets have a direct direct impact on final result activities of a trading company.

So, main goal this course work is: to explore the economic essence of fixed assets, their classification and evaluation, to note the classification features, sources of financing for the reproduction of fixed assets, to consider the legal regulation of accounting and reporting on the movement of fixed assets at the enterprise JSC "Promtractor", to analyze and study the dynamics the movement of fixed assets, to identify reserves to improve the efficiency of their use.

To achieve this goal, it is planned to solve a number of interrelated particular tasks:

1. Explore theoretical aspects economic essence of fixed assets, their classification and evaluation, sources of financing of fixed assets.

2. Conduct a deep and comprehensive analysis of the evaluation of the effectiveness of the use of fixed assets in the enterprise, which includes analysis of the availability, composition and structure of fixed assets; analysis of the composition and movement of fixed assets; analysis of the efficiency of the use of fixed assets.

3. Depreciation charges as a source of financing entrepreneurial activity.

CHAPTER 1. ECONOMIC ESSENCE OF FIXED ASSETS

1.1 Concept, composition and structure of fixed assets

reproduction of fixed assets

fixed assets- part of the property used as a means of labor in the production of products (performance of work, provision of services) or for the management needs of the company for a period exceeding 12 months or a normal operating cycle.

Fixed assets include buildings, structures, workers and power machines and equipment, measuring and control instruments and devices, computers, vehicles, tools, production and household inventory and accessories, working, productive and breeding livestock, perennial plantations. Fixed assets also include capital investments made by an enterprise (firm) in perennial plantations and directed to radical land improvement (drainage, irrigation and other reclamation work) and leased fixed assets. At the same time, these costs are included in fixed assets annually in amounts related to the areas accepted for operation, regardless of the completion of the entire range of works. In addition, fixed assets include land plots owned by the company, objects of nature management (water, subsoil and other natural resources).

Not related to fixed assets and are accounted for by the company as part of working capital:

items with a useful life of less than 12 months (regardless of their value);

* items, regardless of their value and useful life (fishing gear - trawls, nets, nets, etc.; special tools and devices, interchangeable equipment, etc., special clothing and shoes, as well as bedding; uniform; temporary (non-title) structures; young and fattening animals, poultry, rabbits, fur-bearing animals, families of bees, service dogs; perennial plantings grown in nurseries as planting material; gasoline-powered saws, loppers, alloy cable; seasonal roads; items intended for rental under a rental agreement).

Also not included in fixed assets:

machinery, equipment and other similar items listed as finished goods in the warehouses of manufacturing organizations involved in their sale;

items handed over for installation or to be installed, which are in transit:

capital and financial investments and other long-term investments.

Depending on the intended purpose and the functions performed in the production process, fixed assets are divided into production and non-production according to their composition. Production fixed assets operate in the sphere of material production, repeatedly participate in the production process, wear out gradually and transfer their value to the created product (work performed, services rendered) in parts, as they wear out. Production fixed assets constitute the material and technical base of the company and the basis of its authorized capital. As part of fixed production assets in accordance with All-Russian classifier fixed assets allocate fixed assets that, according to their functions and purpose, belong to a different industry than the fixed assets of the enterprise as a whole.

Non-productive fixed assets do not participate in the production process and are intended for the purposes of non-productive consumption. These include healthcare facilities listed on the company's balance sheet (hospitals, medical units, health centers, health resorts, etc.); physical culture and sports (sports palaces, swimming pools, skating rinks, sports facilities, sports schools and etc.); housing and communal and socio-cultural spheres (dormitories, residential buildings, baths, clubs, kindergartens and nurseries, theaters, etc.).

Production fixed assets, depending on their purpose and physical attributes in accounting and reporting, are divided into types, groups and subgroups. The share of the cost of certain types of fixed assets (buildings, structures, machinery and equipment, etc.) in their total cost forms the specific structure of fixed assets. The type of fixed assets "Machinery and equipment" is divided into groups: "Power machines and equipment" (generators, transformers, switchboards, etc.), « Working machines and equipment" (machines, presses, conveyors, hoisting and transport mechanisms, etc.), "Measuring and control instruments and devices, laboratory equipment", "Computer technology" (electronic computers, control and analog machines, digital computers and devices, etc.), “Other machines and equipment” (automatic telephone exchanges, fire engines, mechanical fire escapes, etc.). From the group “Working machines and equipment”, the subgroup “Automatic machines and equipment” stands out, in which the operations of the production process are carried out with a certain rhythm, without the direct participation of a person. Equipment with program control is also considered automatic, automatic machines for welding work, for protection and decorative coatings of products, automatic equipment For heat treatment metal, etc.

In the practice of planning and technical and economic analysis, production fixed assets are divided into: active and passive.

The active part of fixed assets affects the object of labor, moves it in the production process, etc. exercises control over the course of production (machines, vehicles, tools). The passive part creates conditions for the smooth functioning of the active part (buildings, structures, inventory and accessories, other fixed assets).

1. 2 Depreciation and amortization. Types of fixed assets

Fixed assets serve for several years and are subject to replacement only as they become physically and morally obsolete.

Depreciation of fixed assets - partial or complete loss of consumer properties and value of fixed assets, both during operation and during their inactivity.

Fixed assets are subject to depreciation of two kinds - moral and physical.

Obsolescence of fixed assets decrease in the cost of existing fixed assets as a result of the emergence of new types of them, cheaper and more productive.

Physical depreciation of fixed assets means loss consumer value fixed assets and it can occur either as a result of intensive use, or as a result of the impact and impact of the natural forces of nature occurs before the onset of complete physical wear and tear.

Like moral, physical depreciation can be complete and partial. Complete wear and tear requires the replacement of old equipment with new. Partial wear is eliminated by overhaul and modernization of existing machinery and equipment. Establishing the degree of depreciation is necessary to determine the real residual value of fixed assets, planning the replacement of old machines and equipment with new ones.

Useful life - the period during which the use of fixed assets is intended to generate income for the organization or serve to fulfill the goals of its activities. if the deadline is not approved centrally and is not available in technical documentation object, the company calculates it independently.

The concept of "wear and tear" is primary in relation to the concept of "depreciation". First of all, depreciation is material, measurable and does not depend on the methods of accounting. Depreciation is intangible, it cannot be measured, but can only be quantified, that is, accrued, moreover, in one way or another, which is laid down in the accounting policy of the organization. Depreciation should be understood as the process of constantly transferring the value of fixed assets as they wear out to manufactured products, turning it into monetary form and accumulation of financial resources for the purpose of subsequent reproduction of fixed assets. Depreciation deductions --- monetary expression of the amount of depreciation corresponding to the degree of depreciation of fixed assets.

At present, the meaning given to the concept of "depreciation" has expanded and changed. Thus, depreciation charges (or depreciation) are related to expenses for ordinary activities and are considered as a means of recovering the cost of fixed assets, intangible and other assets.

Depreciation deductions represent the attribution to the cost of the accrued depreciation of the property. In other words, the cost of fixed assets is repaid through depreciation. At the same time, depreciation is not charged for certain fixed assets, including:

fixed assets non-profit organizations, items of fixed assets that are not used in entrepreneurial (commercial) activities;

housing stock (depreciation is accrued once a year when drawing up the annual report);

objects of external improvement and other similar objects of forestry and road management;

specialized structures providing navigation;

productive livestock (buffaloes, oxen, deer);

perennial plantings that have not reached the operational age;

purchased publications (books, brochures, etc.);

objects of nature management;

land.

Depreciation of fixed assets is carried out using one of the following methods for calculating depreciation:

1) linear method;

reducing balance method;

method of writing off the cost by the sum of the numbers of years of the useful life;

method of writing off the cost in proportion to the volume of products (works).

The annual amount of depreciation deductions is determined by:

with the straight-line method - based on the initial cost of the object and the depreciation rate calculated taking into account the useful life of this object;

in the case of a diminishing balance method - based on the residual value of the object at the beginning of the reporting year and the depreciation rate calculated taking into account the useful life of this object;

with the method of writing off the cost by the sum of numbers of years - based on the initial cost of the object and the annual ratio, where the numerator is the number of years remaining until the end of the life of the object, and the denominator is the sum of the numbers of years of the life of the object.

with the method of writing off the cost in proportion to the volume of production - based on the natural indicator of the volume of production in reporting period and the ratio of the initial cost of the object and the estimated volume of production for the entire period of use of fixed assets.

1.3 Sources of financing the reproduction of fixed assets

Sources of financing the reproduction of fixed assets are divided into: own and borrowed.

Reproduction has two forms:

simple reproduction, when the cost of compensating for the depreciation of fixed assets corresponds to the amount of accrued depreciation;

extended reproduction, when the cost of reimbursement for depreciation of fixed assets exceeds the amount of accrued depreciation.

IN modern conditions STP situations arise when depreciation charges are sufficient for expanded reproduction of fixed assets. This is most characteristically manifested when a certain proportion of computer and organizational equipment is present in the structure of fixed assets. This is due to the constant decrease by several times in prices for this technique and at the same time increase its productivity.

Capital expenditures for the reproduction of fixed assets are of a long-term nature and are carried out in the form of long-term investments (capital investments) for new construction, for the expansion and reconstruction of production, for technical re-equipment and for supporting the capacities of existing enterprises.

· depreciation;

issue of shares.

The Chart of Accounts does not provide for the creation of a special depreciation fund. Depreciation funds are the first source of the company's own funds, they come as part of the sales proceeds to the company's settlement account, and all expenses in various areas of capital investments are paid directly from the settlement account.

Through the mechanism of accelerated depreciation, enterprises have the opportunity to regulate the amount and timing of financing the reproduction of funds at the expense of given source. The actual amounts of depreciation charges, falling along with the proceeds from the sale to the current account of the enterprise, are included in its working capital and begin to move independently, without regard to the depreciable property. They can remain free, directed to capital investments or invested in other types of working capital. However, the fact that the sources of funds practically do not differ in the circulation of enterprise funds does not mean that the nature of the formation of these funds does not affect the speed and efficiency of their use.

The sufficiency of sources of funds for the reproduction of fixed capital (as well as working capital) is of decisive importance for the financial condition of the enterprise. Therefore, this controlled parameter of the financial condition is always in the field of view of the financial manager.

The second source of the company's own funds to finance the reproduction of fixed assets is the depreciation of intangible assets.

Intangible assets come to enterprises through the following channels:

when purchased for a fee;

as a contribution to the authorized capital;

upon receipt free of charge.

The characteristic features of intangible assets are:

Lack of material and material structure;

the ability to make a profit;

· Uncertainty about the size of the profits.

Depreciation on intangible assets is charged according to the norms determined by the enterprise itself. The initial cost and the planned period of use of intangible assets are taken as the basis for calculating the norms.

The actual amount of depreciation is credited to the settlement account of the enterprise along with the proceeds from the sale of products (works, services) and is in circulation.

The third source of the enterprise's own funds for financing the reproduction of fixed assets is the profit remaining at the disposal of the enterprise (net profit). Directions for the use of net profit of the enterprise are determined in their financial plans on one's own.

The fourth source of the enterprise's own funds for financing the reproduction of fixed assets is budgetary earmarked allocations. If an enterprise fulfills a target state order, which is provided for in the state development budget, then the latter allocates targeted financing to the enterprise.

bank loans;

· share;

Bank loans are provided to the enterprise on the basis of a loan agreement, the loan is provided on the terms of payment, urgency, repayment against security: guarantees, pledge of real estate, pledge of other assets of the enterprise.

Many enterprises, regardless of the form of ownership, are created with very limited capital. This practically does not allow them to fully carry out their statutory activities at their own expense and leads to their involvement in the turnover of significant credit resources.

Lending is not limited to large investment projects, but also the costs of current activities: reconstruction, expansion, reorganization of production, redemption of leased property by the team and other activities.

The source of financing for the reproduction of fixed assets is also borrowed funds from other enterprises, which are provided to the enterprise on a reimbursable or non-reimbursable basis with a strategic interest. Loans to enterprises can also be provided by individual investors (individuals).

Other sources of financing the reproduction of fixed assets are budget appropriations on a returnable basis from federal and local budgets, as well as from sectoral and intersectoral trust funds.

The issue of choosing sources of financing for capital investments should be decided taking into account many factors:

cost of attracted capital;

efficiency of return from it;

· the ratio of own and borrowed capital, which determines the financial condition of the enterprise;

· degree of risk of various sources of financing;

· economic interests investors and lenders.

CHAPTER 2GRADEEFFICIENCY OF USE OF FIXED ASSETS AT THE ENTERPRISEOJSC "Promtractor"

2.1 Eeconomic characteristicJSC "Promtractor»

JSC "Promtractor" is one of the leaders in the production of multipurpose industrial tractors and occupies a stable position in the tractor equipment market, characterized by a stable growing demand.

Main activities

1 Manufacture of machinery and equipment for mining and construction;

2 Tool production;

3 Processing of metals and coating of metals;

4 Processing metal products using basic technological processes mechanical engineering;

5 Technical testing, research and certification;

6 Manufacture of parts and accessories for motor vehicles and their engines;

7 Wholesale waste and scrap;

8 Other wholesale trade;

9 Provision of services for installation, repair, maintenance and rewinding of electric motors, generators and transformers;

10 Manufacture of technological equipment;

11 Investigations and security;

12 Production of finishing works;

13 Project Development industrial productions relating to mechanical engineering;

14 Training and advanced training of workers and other workers;

The main consumers are enterprises of the following industries:

oil production and refining,

construction,

gold mining,

road and industrial construction,

forest industry,

attachment factories.

Mission of JSC "Promtractor"

Solving consumer problems for completing and maintaining life cycle wheeled and tracked vehicles and technological complexes for excavation, movement of bulk materials, pipeline construction and logging.

The economic indicators of 2007 testify to the dynamic development of the enterprise.

In 2007, compared to 2006, the following changes occurred: sales proceeds increased by 1,702,631 thousand rubles and amounted to 6,935,497 thousand rubles, an increase of 32.54%. There was also an increase in the cost of goods sold by 1,437,046 thousand rubles, which is 36.72% as a percentage. Gross income increased by 265,585 thousand rubles. and amounted to 1,584,475 thousand rubles, an increase of 20.14%.

Profit from sales in 2007 increased compared to 2006 by 224 585 year thousand rubles or by 25.459%., and in 2007. net profit amounted to 579 945 thousand rubles, which is 26.46% more than in the same period of 2006.

The average annual cost of fixed assets increased by 223,304 rubles. and amounted to 1485845 thousand rubles. Return on assets increased by 53 kopecks. and amounted to 4.67 rubles. Capital intensity in the reporting year decreased by 12 kopecks. The return on equity increased to 0.03 rubles, the increase was 0.39 rubles.

Costs per 1 rub. marketable products amounted to in 2007. 82.2 kop. against 81.3 kop. in 2006

Return on sales indicators are decreasing in 2007 as compared to 2006. at 5.33.

In 2007 profitability equity amounted to 20.1%.

In 2007 proceeds from the sale of products, goods and services increased compared to 2006. by 32.5%, including more earth-moving and road machines sold by 181 units. or by 28.9% in value terms. The largest share of sales in the total volume of tractor equipment was reserved for bulldozer-loosening equipment of traction class 11 - 18.3%, as well as class 35 - 16.6%. The volume of sales of spare parts increased by 35.9% or by 116.4 million rubles.

In 2007, 970 units were sold. tractor equipment in the amount of 5,195.3 million rubles. without VAT, which is more than planned by 7 units.

Fig.2 Structure of product sales in 2007

Fig.2 Structure of product sales in 2006

The growth in the share of sales volumes through cooperation from 1% in 2006 to 4% in 2007 in the total volume of sales of products was caused by the assembly of tractors T-9.01 (JSC VgTZ)) and PK-60.01 (JSC KMZ), transferred from 01.01.07 into production at the enterprises of the Concern.

Table 1

Implementation by types of tractor equipment 2006-2007.

	fact 2006.	fact 2007.
	volume of sales		volume of sales

Bulldozers rippers
Pipelayers
Wheel loaders
Wheeled bulldozers

Under direct contracts
Shipment through the sales company JSC "CHETRA"

As a result of sales in 2007, the share of bulldozers in total sales increased from 65.1% in 2006 to 69.9%, the share of sales of pipe-laying cranes decreased to 29.4% (31.4% in 2006), loaders - up to 0.7% (3.5% in 2006).

Shipment of tractor equipment in 2007 was mainly carried out through the sales company OJSC CHETRA-PM (91.0% of the total sales volume of tractor equipment).

Table 2

Personnel, labor and wages 2006-2007

Indicators	Periods (years)	Pace (2007/2006)	Rejection-

Average headcount all staff

basic workers

support workers

Payroll for all staff
basic workers
support workers
Average monthly salary of all staff
Growth rate
basic workers
Growth rate
support workers
Growth rate
Average monthly labor productivity
Growth rate
essential workers
Growth rate

In 2007, Promtractor OJSC revised its organizational structure, as a result of which the Foundry Plant was merged in May, and the Special Design Bureau in September, while it was removed from the OJSC structure in September TsKhORiB. The average headcount of all personnel in 2007 decreased by 33 people, while the number of key workers increased by 314 people. or by 13.9%. In this regard, the structure of personnel has changed: the share of key workers is growing, the share of auxiliary is falling. The task is set to bring the structure of employees to general industrial standards: the main share - the main workers, the share of managers, specialists and employees should not exceed 25%.

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Fig.3 Personnel structure 2006-2007

The average salary of all personnel in 2007 increased by 2512.0 rubles. (by 35.4%) and amounted to an average of 9608.5 rubles for the year, the growth rate of wages exceeded the growth index consumer prices. The average salary is 2.7 times higher than living wage(for able-bodied population) by region.

Exceeding the growth rate average monthly salary auxiliary workers (43.3%) over the growth rate of the wage fund (32.3%) due to a decrease in the number of personnel: the number of auxiliary workers decreased by 193 people.

The average monthly labor productivity in industrial - production staff amounted to 73,226 rubles. (135.3% compared to 2006), the average monthly salary per 1 PPP amounted to 9771.5 rubles. (135.2% by 2006). The average monthly productivity of 1 main worker was 200,434 rubles. (119.1% compared to 2006) and wages - 11540.5 rubles. (138.7% compared to 2006) There is an excess of the growth of average wages over the growth of labor productivity, which is justified by an increase in tariff rates, salaries in connection with the change in the minimum wage in Russia, the merger with OAO Promtractor SKB from September 1, 2007.

Work is underway to improve the organization of labor of production workers, organizational and technical measures are being introduced to reduce labor costs that reduce the cost of production.

In order to identify the reserves of working time, improve the efficiency of the use labor resources and quality checks of the current labor standards are regularly timed. During 2007, 659 timings and 357 full-day photographs of the working day were taken. The results of the FRD were communicated to the heads of departments to develop measures to reduce the loss of working time.

In connection with the change in the minimum wage in Russia, a new “Regulation on wages and work rationing for employees of JSC Promtractor” was revised and put into effect on September 1, 2007, which ensures that the employee is paid wages in accordance with the quantity and quality of his work, employee performance and limit sizes does not limit it.

For the purpose of material interest in a constant increase in the volume of products, the provisions on the motivation of remuneration for the heads of workshops and their deputies, line personnel engaged in the manufacture of tractor products, auxiliary workers engaged in the repair of equipment, crane operators, and other categories of personnel have been revised and updated.

JSC "Promtractor" has developed close partnerships with a number of major commercial banks, including Sberbank, Vneshtorgbank, Rosbank. Relations with them are built on a mutually beneficial basis. JSC "Promtractor" has a positive credit history in all credit institutions that have ever financed the activities of the enterprise.

In the reporting period, as a whole, OJSC Promtractor significantly increased the cost of attracted credit resources. The volume of attracted credit resources depends on the efficiency of the enterprise as a whole and the possibility of providing them with both movable and immovable property. If there is a lack of collateral, it is possible to use alternative sources of attracting financial resources, such as bonds, bills of exchange, etc.

Table 3

Accounts payable for the 1st quarter of 2006-2007

	Payment due date	Deviation
	Up to one year (for the 1st quarter of 2006)	Up to one year (for I quarter 2007)
Accounts payable to suppliers and contractors, thousand rubles
Accounts payable to the personnel of the organization, thousand rubles
Accounts payable to the budget and state off-budget funds, thousand rubles
Loans, thousand rubles

Loans, total, thousand rubles
including overdue, thousand rubles.
Other accounts payable, thousand rubles

In absolute terms, accounts payable for the I quarter. 2007 is 3745943, which is 628593 thousand rubles. more than I quarter. 2006

In the I quarter 2007 in comparison with the I quarter. In 2006, the following changes took place: the amount of loans increased by 306,205 thousand rubles. and amounted to 2624201 thousand rubles, an increase of 13.21%. There was also an increase in accounts payable to the organization's personnel by 5,786 thousand rubles, which is 17.80% as a percentage. Loans for Q1 2007 decreased by 62031 thousand. rubles, there was also a decrease in accounts payable to suppliers and contractors by 25453 thousand rubles.

Budget credits and budget funds in 2006-2007. not granted.

2.2 Aanalysiscomposition and structure of fixed assetsOJSC "Promtractor"

The analysis of the material and technical base usually begins with the study and evaluation of the composition and structure of production fixed assets.

Let's study the composition and structure of industrial and non-industrial fixed assets of Promtractor OJSC, while compiling tables.

Analysis of the structure and composition of fixed assets of JSC "Promtractor" 2007 shows that the largest share in the structure of fixed assets of the organization is occupied by machinery and equipment. Their share at the beginning and end of 2007 was 60.87% and 61.14%, respectively. Machinery and equipment were received in the amount of 362,795 thousand rubles, and 124,979 thousand rubles were withdrawn. The second largest group of fixed assets is Buildings. Their share at the beginning and end of 2007 was 25.13% and 26.0%, respectively. The smallest share is occupied by other types of fixed assets 0.04%.

Fig.4. The structure of fixed assets in OAO Promtaktor at the beginning of 2006

2.3 Gradeefficient use of fixed assets of Promtractor JSC

To assess the movement of fixed assets and their impact on trade and production processes, the following indicators are determined:

Table 4

The cost of fixed assets of JSC "Promtractor" in 2006-2007, thousand rubles.

Table 5

Analysis of the movement and composition of fixed assets for 2006-2007, in %

According to the coefficient of physical depreciation, the fixed assets of OJSC "Promtractor" are almost half worn out and require immediate renewal.

Despite the fact that in 2006-2007. renewal coefficients amounted to 20.87% and 25.22%, respectively. Physical depreciation is still high.

The retirement rate indicates the retired fixed assets. As you can see, the level of retired fixed assets is very small. The highest level of retirement was in 2007 (11.77%). The level of put into operation significantly exceeds the level of retired fixed assets.

The growth rate of fixed assets was the highest in 2007 and amounted to 11621%, in 2006 the growth of fixed assets amounted to 118.96%.

The use (consumption) of fixed assets is characterized by indicators of capital productivity, capital intensity, capital profitability, capital-labor ratio.

Currently, capital productivity is used as the main indicator of efficiency. This indicator is calculated as the ratio of revenue to average annual cost fixed assets, i.e. according to the formula

The level and dynamics of capital productivity is influenced by various factors:

* change in the structure of fixed assets,

* change in the degree of use of fixed assets under the influence of extensive and intensive factors.

When calculating the return on assets, along with own fixed assets, leased funds are also taken into account; fixed assets that are on conservation, in reserve and leased to other business entities are not taken into account.

The growth of capital productivity leads to relative savings in the use of fixed assets and an increase in the volume of trade.

Along with the return on assets, the indicator of capital intensity is used in analytical work. Capital intensity is measured by the ratio of the average annual amount of fixed assets to revenue. Capital intensity is an indicator that is inverse to capital productivity.

Return on assets and capital intensity are generalizing indicators of the use of fixed assets.

The value and dynamics of capital productivity and capital intensity are influenced by various factors, depending and independent of the enterprise. The value of capital productivity depends on the volume of turnover, the share of high-quality and new equipment in the total cost of fixed assets.

The capital-labor ratio is calculated by dividing the average annual cost of fixed assets by the average annual number of employees employed in the economy (industry), i.e.

Profitability is the ratio of profit to the average annual cost of fixed assets, i.e.

Table 6

Analysis of the effectiveness of the use of fixed assets of Promtractor LLC for 2006-2007.

Calculations made:

1. Capital productivity of fixed assets in 2006:

522866/1262505 = 4 rubles 14 kop.

2. Capital intensity of fixed assets in 2006:

1262505 / 5262866 = 0.24 rubles = 24 kop.

3. Profitability of fixed assets in 2006:

458604 / 1262505 \u003d 0.36 rubles \u003d 36 kopecks.

4. Capital-labor ratio:

1262505/7347 = 171.84 rubles/person

Table 10 shows that the return on assets in 2007 compared to 2006 increased by 0.53 rubles, or 12.80%. The capital intensity in 2007 was 0.12 rubles. and decreased compared to 2006 by 0.12 p. The return on equity in 2007 increased by 0.03 rubles.

Generalizing indicators for assessing the provision of enterprises with production fixed assets are the capital-labor ratio. The growth of capital-labor ratio leads to an increase in labor productivity. In 2007 it was 203.15.

CHAPTER 3THE ROLE OF PROFIT ANDAMORTIZATION DEPOSIT IN FINANCING OF FIXED ASSETS

The most reliable are our own sources of investment financing. The main own sources of financing investments in any commercial organization are net income and depreciation.

The main goal of the enterprise in the market is to maximize profits. It is the main financial result of the enterprise.

The purpose of depreciation deductions is to ensure the reproduction of the main production assets and intangible assets. Depreciation charges are a sustainable source of financial resources. Depreciation deductions are made only until the complete transfer of the balance sheet value of funds to the cost of products (works, services) and distribution costs. Depreciation deductions can be accrued by uniform or accelerated methods. IN Russian Federation The straight-line method of depreciation is used for the most part. Under the straight-line method, depreciation is charged according to uniform depreciation rates, set as a percentage of the initial cost of fixed assets. Depreciation rates can be adjusted depending on deviations from the standard conditions for the use of fixed assets.

The balance sheet profit at the enterprise consists of the profit received from the sale of products (works, services), profit from the sale of the property of the enterprise, income received from non-sales operations minus expenses associated with non-sales operations.

Gross profit is the taxable base for calculating income tax. The enterprise is interested in the profit that remains at its disposal, i.e. net profit, which is defined as balance sheet profit minus taxes and other mandatory payments paid out of profits.

Profit should be directed to the development of the enterprise if the level of technical development of the enterprise is low, which is a brake on the production of competitive products and possible cause enterprise bankruptcy. The distribution of profits in the enterprise must be justified in economic and social terms. Profit must contribute to the implementation of a long-term plan for the development of the enterprise. The use of profit as a source of financing real investments aimed at expanding, reconstructing and technically re-equipping an enterprise has a positive aspect for the enterprise in the sense that this profit is not subject to income tax under the existing tax legislation. This exemption may not reduce the actual amount of income tax (calculated before the deduction of exemptions) by more than 50%. But even in this case, the company receives a substantial income tax benefit. Depreciation deductions are also the main source of reproduction of fixed assets. Depreciation is the process of transferring the value of fixed assets to manufactured products during their standard service life.

Depreciation deductions are designed to ensure not only simple, but also, to a certain extent, expanded reproduction. IN developed countries world depreciation charges up to 70-80% cover the needs of enterprises in investments.

The advantage of depreciation as a source of investment compared to others is that for any financial situation of the enterprise, this source exists and always remains at the disposal of the enterprise.

Due to the fact that depreciation charges acquire their own form of existence and movement and cease to be an expression of the physical depreciation of fixed capital, the boundaries between the depreciation fund and net income, compensation and accumulation funds are blurred. Thus, it expands and becomes more stable financial base investment. Therefore, depreciation charges become important tool regulation of investment activity of the enterprise (firm).

Depreciation deductions at the enterprise should be used to finance real business activities, namely:

For the purchase of new equipment instead of retired;

On the mechanization and automation of production processes;

To conduct research and development work;

For the modernization and renewal of manufactured products in order to ensure their competitiveness;

For reconstruction, technical re-equipment and expansion of production;

For new construction.

Unfortunately, in many enterprises, depreciation deductions are used for completely different purposes that are not characteristic of their economic purpose, in particular, to replenish working capital. For more effective use depreciation deductions as investment resources at enterprises, it is necessary to carry out a depreciation policy, which includes: a policy of reproduction of fixed assets, improvement of methods for calculating depreciation deductions, selection of priority areas for the use of depreciation deductions.

CONCLUSION

Summing up under the done course work, we can state that fixed assets are one of the most important factors affecting the development of the financial and economic activities of the enterprise. The state, development and efficiency of the use of fixed assets of the enterprise have a great influence on the implementation of the plan and the dynamics of turnover.

Fixed assets are important economic potential JSC "Promtractor" Their condition predetermines both the prerequisites for economic recovery and the level of competitiveness of production.

The ability of the economy of any market entity to stabilize and economic growth depends on competent accounting and analysis of fixed assets.

Fixed assets include tools used in the production process, performance of work and provision of services or for the management of the organization, during a useful life of more than 12 months.

Sources of financing the reproduction of fixed assets are divided into: own and borrowed.

The sources of the enterprise's own funds for financing the reproduction of fixed assets include:

· depreciation;

depreciation of intangible assets;

the profit remaining at the disposal of the enterprise,

· budget allocations,

issue of shares.

The borrowed sources of financing the reproduction of fixed assets include:

bank loans;

Borrowed funds from other enterprises and organizations;

· share;

funding from the budget on a returnable basis;

financing from extrabudgetary funds.

Held economic analysis allows us to conclude that the largest share in the structure of fixed assets at Promtractor JSC at the beginning and end of 2007 is occupied by machinery and equipment (60.87 and 61.14%). The specific gravity of the building is 60.87 and 61.14%.

Despite the fact that in 2006-2007. the renewal coefficients were 0.21 and 0.25, respectively; physical wear is still high.

According to the coefficient of physical depreciation, the fixed assets of OAO Khimprom are almost half worn out and require immediate renewal. Depreciation of fixed assets of OAO Khimprom is currently 0.55 and 0.58.

The level of retired fixed assets is very low. The highest dropout rate was in 2007. The level of put into operation significantly exceeds the level of retired fixed assets.

The growth rate of fixed assets was the highest in 2007 and amounted to 1.19%, in 2006 the growth of fixed assets amounted to 1.16%.

As you can see, there is a downward trend in the growth of fixed assets in the organization.

That the return on assets in 2007 compared to 2006 increased by 0.53 rubles, or 12.80%. The capital intensity in 2007 was 0.12 rubles. and decreased compared to 2006 by 0.12 p. The return on equity in 2007 increased by 0.03 rubles.

In absolute terms, accounts payable for the I quarter. 2007 is 3745943, which is 628593 thousand rubles. more than I sq. 2006

The introduction of full automation of accounting and analysis of fixed assets will reduce the time for processing information on accounting and analysis of fixed assets, thereby reducing labor costs.

Summing up the results of the course work done, it can be stated that the use of fixed assets in JSC "Promtractor" can be made with even more full-fledged returns and high efficiency, but this requires literacy management decisions accepted by the management of the joint-stock company.

LIST OF USED LITERATURE:

1. Abryutina M.S. Enterprise economy. textbook. - M.: publishing house "Business and Service". 2007. - 528s.

2. Analysis of the financial and economic activities of the organization: textbook / ed. Makarieva V.I. - M.: INFRA-M., 2007. - 601s.

3. Basovsky L.E. Comprehensive economic analysis of economic activity: Proc. allowance. M .: publishing house "Business and Service", 2008. - 528s.

4. Bukhalkov M.I. Planning at the enterprise: Textbook - 3rd ed., Rev. and additional - M.: INFRA - M, 2006 - 416 p.

5. Kovalev V.V. The financial analysis: methods and procedures. - Spanish and additional - M.: Finance and statistics, 2008. - 5620s.

6. Kovalev V.V., Volkova O.N. Analysis of the economic activity of the enterprise. - M.: PBOYuL Grizhenko E.M.. 2007 - 424p.

7. Savitskaya G.V. Economic analysis of the enterprise: textbook - 3rd ed., corrected. and additional - M.: INFRA-M, 2006.- 500s.

8. Selezneva N.N. Financial management: Proc. allowance. - M.: Finance and statistics, 2008. - 496s.

9. Finance of organizations: tutorial for universities in the specialties "Finance and Credit", " World economy» / A.N. Gavrilova, A.A. Popova. - ed. 2nd, - M.: KnoRus, 2008. - 536s.

10. Shulyak P.N. Enterprise finance: textbook. - 2nd ed. - M: Publishing House "Dashkov and K", 2008. - 752p.

11. Economics of an organization (enterprise): textbook / ed. prof. B.N. Chernysheva, prof. Gorfinkel. - M.: high school textbook, 2008. - 536s.

12. Economic analysis and fundamentals of financial management: Proc. allowance / author-comp.: L.P. Kurakov, E.N. Ryabinina, M.P. Vladimirovna, V.L. Kurakov. - M.: university and school, 2007 - 310s.

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Give an analysis of the purpose of depreciation in simple and extended reproduction of fixed production assets;

Describe the role of depreciation in the accumulation of fixed assets.

1. Essence, classification and formation of fixed assets and property of the enterprise

For the normal functioning of the enterprise, it is necessary to have certain means and sources. Fixed production assets, consisting of

buildings, structures, machines, equipment and other means of labor that are involved in the production process, are the most important basis for the company's activities. Without them, nothing could have happened. Naturally, for the normal functioning of each enterprise, not only fixed assets are necessary, but also working capital, which is, first of all, cash that is used by the enterprise to acquire working capital and circulation funds.

The material base of the enterprise is formed by the means of labor and objects of labor, which are combined into the means of production. Means of labor are taken into account in the form of fixed assets.

Fixed assets in value terms are fixed assets accounted for in the accounting system.

Fixed assets are such inventory items that retain their physical form for a long period of time, wear out gradually and transfer their value to finished products or services in parts.

The essence of fixed assets can be characterized as follows:

They are materially embodied in the means of labor;

Their cost is transferred in parts to the products;

They retain their natural shape for a long time as they wear;

Reimbursed on the basis of depreciation at the end of the service life.

Depending on the purpose, fixed assets are divided into fixed production and fixed non-production assets.

Fixed production assets include those fixed assets that are directly involved in the production process (machines, equipment, machine tools, etc.) or create conditions for the production process (production buildings, pipelines, etc.).

Fixed non-production assets are enterprise facilities, medical institutions, canteens, etc.

For accounting and planning of reproduction, fixed assets are divided into groups and types in accordance with the service life and purpose in the production process.

The composition and classification of fixed production assets are shown in Figure 1.

Rice. 1. Composition and classification of fixed production assets

For manufacturing enterprises the typical composition of fixed assets is as follows: buildings, structures, working and power machines, equipment, measuring and control instruments and devices, computers, vehicles, production and household equipment, etc. In this classification, not all elements of fixed assets play the same role . Some of them (machinery and equipment) are directly involved in the production process and therefore they are classified as an active part of fixed assets. Others (industrial buildings and structures) ensure the normal functioning of the production process and represent a passive part of fixed assets.

However, it must be borne in mind that when striving to achieve some optimal ratio between the active and passive parts of fixed assets, there may be social problems. The desire to ensure a high proportion of their active part without taking into account specific production conditions can cause a violation of production and sanitary and hygienic working conditions. Sometimes an increase in the active part of fixed assets without a technical and economic analysis leads to an unreasonably quantitative increase in the equipment fleet due to the share of old equipment. In this regard, when analyzing the structure of fixed assets, the age composition of their active part is taken into account.

Any production process is a process of transformation of objects of labor, labor, carried out by living labor with the help of means of labor. The totality of the means of labor forms the main production assets that are used in several production cycles, gradually wear out and transfer their value to the product in parts during the entire service life, without losing their natural form.

Along with them, the main non-production assets also function in the national economy - objects of a long-term production use, retaining their natural form and gradually losing value. These include funds for housing and communal services, organizations of culture, science, health care, and the like. Fixed non-productive assets do not participate in the creation of use values. Together, the main production and fixed non-production assets form the fixed assets of the enterprise. IN financial reporting fixed assets are treated as property, plant and equipment.

The value advanced into fixed assets in the course of their useful use makes a continuous circuit. Fixed assets operate for a long period and in parts transfer their value to the cost of manufactured products, work performed or services rendered, while maintaining their material form.

One of the main tasks of enterprises is to increase efficiency and quality social production and a significant increase in the return on capital investments and fixed assets, which are the material base of production and the most important integral part productive forces of the country.

Numerical growth and qualitative improvement of the means of labor on the basis of continuous scientific and technical progress is a decisive prerequisite for a steady increase in labor productivity.

According to a sample survey of the investment activity of industrial enterprises as of the end of 2005, conducted State Committee Russian Federation, investments in fixed capital in 2005 were carried out by 94%, and in 2004 - 93% of industrial enterprises. Among large and medium-sized industrial enterprises, investments in fixed capital in 2005 were carried out by 96% of enterprises, while small businesses - only 39%.

In conditions of rapid technical progress, technology is constantly being improved, new, more productive types of mechanisms and apparatus are being created that replace old technology. The term of use (service life) of fixed assets in the production process is becoming increasingly important, both from the point of view of technical progress and from the point of view of a more correct and highly efficient use of those capital investments that are spent on creating new fixed assets.

Fixed assets are distinguished in many ways, but primarily depending on the nature of the participation of fixed assets in the sphere of material production. The main funds are divided into:

Production fixed assets function in the production process, constantly participate in it, wear out gradually, transferring their value to finished product, they are replenished at the expense of capital investments;

Non-productive fixed assets are intended to serve the production process, and therefore do not directly participate in it, and do not transfer their value to the product, because it is not produced; they are reproduced at the expense of the national income.

Despite the fact that non-production fixed assets do not have any direct impact on the volume of production, the growth of labor productivity, the constant increase in these funds is associated with an improvement in the well-being of the employees of the enterprise, an increase in the material and cultural standard of their life, which ultimately affects the result of activity. enterprises.

Production fixed assets, depending on which sector of the economy the company belongs to, for example, fixed assets for industrial enterprise divided into industrial and non-industrial. In turn, non-industrial fixed assets can be production (agriculture, construction, etc.) and non-production ( housing, healthcare, etc.). The production process consists of a large number of different stages, requires some effort, so the classification of fixed assets for production purposes is based on their functions in production. At present, the Central Statistical Office classifies fixed assets of industry into the following main groups.

1. Buildings. This group includes buildings of the main, auxiliary and service workshops, as well as administrative buildings enterprises.

2. Structures. This includes underground and open mine workings, oil and gas wells, hydraulic and other structures.

3. Transfer devices. These are devices with the help of which, for example, electrical or other energy is transmitted to the places of its consumption.

4.Machines and equipment. This group includes all types technological equipment, as well as primary and secondary engines. This group is divided into subgroups:

a) power machines and equipment (steam and hydraulic turbines, transformers, wind turbines, electric motors, internal combustion engines and others, primary and secondary engines);

b) working machines and equipment (machines, presses, hammers, chemical equipment, blast and open-hearth furnaces, rolling mills and other machines and equipment);

c) measuring and regulating items;

d) computer technology;

e) others.

5. Vehicles. They include all types Vehicle, including: intrashop, intershop and interfactory transport, river and navy fishing industry, pipeline transport, etc.

6.Tool. These include cutting, pressing, impact and other tools.

7. Production and household inventory and accessories. Inventory for production and household purposes, contributing to the facilitation and creation normal conditions labor (office equipment, workbenches, containers, inventory packaging, fire-fighting items, etc.).

For ease of accounting, fixed assets included in groups 6 and 7 include only tools, production and household equipment with a service life of more than one year and a cost of more than 15 non-taxable minimums per unit. The rest of the tool, inventory, as well as other accessories (despite the fact that theoretically, according to all economic criteria, they should be classified as fixed assets) in economic practice, it is customary to consider working capital.

8. Perennial plantations.

9. Working reproductive cattle.

10. Capital expenditures for land improvement and other fixed assets.

Not all elements of fixed assets play the same role in the production process. Working machines and equipment, tools, measuring and control instruments and devices, technical structures (mining workings of mines and cuts, oil and gas wells) are directly involved in the production process, contribute to an increase in output and therefore belong to the active part of fixed assets. Other elements of fixed assets (industrial buildings, inventory) have only an indirect impact on production and therefore they are called the passive part of fixed assets.

2. Sources of financing the reproduction of fixed assets

Sources of financing the reproduction of fixed assets are divided into own and borrowed.

Reproduction has two forms:

simple reproduction, when the cost of compensating for the depreciation of fixed assets corresponds to the amount of accrued depreciation;

extended reproduction, when the cost of compensating for the depreciation of fixed assets exceeds the amount of accrued depreciation.

Capital expenditures for the reproduction of fixed assets are of a long-term nature and are carried out in the form of long-term investments for new construction, for the expansion and reconstruction of production, for technical re-equipment and for supporting the capacities of existing enterprises.

The sources of own funds of firms for financing the reproduction of fixed assets include:

Depreciation;

Depreciation of intangible assets;

The profit remaining at the disposal of the firm.

The sufficiency of sources of funds for the reproduction of fixed capital is of decisive importance for the financial condition of the company.

Borrowed sources include:

Bank loans;

Borrowed funds from other firms;

Equity participation in construction;

Financing from the budget;

Financing from off-budget funds.

The issue of choosing sources of financing for capital investments should be decided taking into account many factors: the cost of capital raised; efficiency of return from it; the ratio of own and borrowed capital; economic interests of investors and lenders.

2.1 Depreciation as a category for depreciation of fixed assets

The circulation of fixed assets includes 3 phases depreciation, depreciation and compensation. Depreciation and amortization occur in the process of production use of fixed assets, and compensation - as a result of their creation and restoration. As they are used, the elements of the means of labor physically wear out, their quality deteriorates. technical properties. The so-called mechanical wear sets in, as a result of which the means of labor lose their ability to participate in the manufacture of products. In other words, their use value decreases. Fixed assets are subject to physical wear and tear, not only due to their productive use, but also under the influence of the forces of nature. Both in the process of functioning and during inactivity, under the influence of atmospheric conditions, gradual, destructive actions of natural metabolism, metal corrosion and wood decay occur, i.e., individual parts of fixed assets are deformed and destroyed. Means of labor can also fail as a result of such extraordinary circumstances as fires, floods, earthquakes and other natural disasters.

The amount of physical depreciation of fixed assets depends on the quality of their manufacture, technical parameters laid down in the process of creation and predetermining durability. In addition, the level of physical depreciation of fixed assets depends on the degree of their utilization in the process of productive use. The greater the shift of equipment operation and the more intensive its workload in time and power, the higher the level of wear. Along with this, wear depends on the skill level of workers, compliance with appropriate operating conditions, protection from adverse conditions. environment, quality of care and timeliness of repairs.

Along with physical wear and tear, the means of labor are subject to obsolescence, in which machines and equipment that are still quite suitable for their material condition become unprofitable in operation in comparison with new, more efficient models of equipment. There are two forms of obsolescence. The first, when as a result scientific and technological progress, causing the growth of labor productivity in industries that produce the means of production, machines of this kind are produced at a lower cost. When the production of new, cheaper machines becomes mass-produced, the cost of similar technical specifications operating means of labor is reduced. After all, in every this moment the value of commodities is determined not by individual expenditures, but by the amount of socially necessary labor time for their production. New machines of a similar design are produced cheaper and therefore transfer a smaller share of the cost to the finished product, which makes them more efficient in operation and stimulates the early replacement of old models of equipment.

The second form of obsolescence is the reduction in the cost of functioning means of labor as a result of the introduction of new, more progressive and economical technology into production. New machines can be more productive, i.e., more products can be produced per unit of time. Changes in quality characteristics and consumer properties of products are possible. One of the advantages of new equipment may be the provision of opportunities for the introduction of more advanced technology, which will save material resources and improve working conditions. An increase in the efficiency of new types of equipment can also be the result of saving production space, better reliability and efficiency in operation, greater maintainability, etc. As a result, the operation of old machines becomes unprofitable, which necessitates their early replacement.

The use of obsolete, although physically not yet worn out equipment leads to a relative increase in production costs, hinders the improvement of technological processes. A problem arises: incur losses from the early replacement of obsolete labor tools and get savings from the introduction of more advanced technology or operate obsolete equipment until its cost is completely written off, but at the same time lose the possibility of increasing production efficiency in the future. As a rule, comparisons testify in favor of early replacement of machines in order to technically improve production, the effect of which far exceeds the losses before the early write-off.

If the basis of physical wear and tear is the influence of material environmental factors and internal metabolic physical and chemical processes that destroy the materials from which the means of labor are created, then the basis of both forms of obsolescence is scientific and technological progress. It predetermines both the cheapening of the means of labor and the emergence of new types of equipment and products. In accordance with the nature of the causes, the loss of use value and the value of means of labor as a result of physical and moral depreciation is carried out differently. If physical depreciation occurs, as a rule, evenly as the use of fixed assets or the gradual impact of the forces of nature, then obsolescence due to the uneven scientific and technological progress certain types means of labor are exposed unevenly. Thus, it has the greatest impact on the active part of fixed assets, since changes in the designs of machinery and equipment are more dynamic compared to the improvement of the structures of buildings and structures. The impact of obsolescence is uneven in various sectors of the national economy. It is especially noticeable in industries that determine scientific and technological progress. The second form of obsolescence has the most significant impact in the first period of the introduction of new technology, as innovations become widespread, its impact gradually decreases.

Wear is not the same as wear. All created fixed assets, both active and inactive, are subject to depreciation, regardless of their participation in the production process (production and non-production). Wear is an objectively existing phenomenon. Wearing is economic process, a reflection of depreciation in economic reality. Wear and tear, or economic depreciation, is a process of loss of value by means of labor. The cause of wear can be both physical and moral wear and tear.

Wear is the basis of depreciation. Depreciation is reimbursed not in the process of forming the depreciation fund, but during its subsequent use to replace obsolete equipment and during major repairs and modernization.

Depreciation is the part of the cost that is transferred to the product. Its movement is included both in the process of production and in the process of circulation. A cash depreciation fund is the financial result of the accumulation of successively carried out depreciation charges. It is formed only after the sale of finished products.

Depreciation can be defined as the process of gradually transferring the value of the means of labor to the value of the finished product. Depreciation deductions are that part of the value of the means of labor, which in each new circulation of the funds of enterprises, as they wear out, is separated and continues to move as part of new value first in the form of work in progress, then as part of the cost of finished products, and after its sale is accumulated in the reserve fund of funds intended to reimburse advanced costs to fixed assets. Thus, the difference between depreciation and depreciation of fixed assets is clearly outlined. If depreciation is the loss of use value, and hence the value of the means of labor, then depreciation means the process of transferring value to the finished product. Both processes, despite their differences, are inseparable as two sides of one and the same phenomenon. Therefore, depreciation deductions, reflecting the value of the transferred value, at the same time show the degree of depreciation of fixed assets.

The depreciation movement covers the stages of production and circulation of products manufactured on this equipment for the entire period of its operation. This process does not coincide with the reimbursement of fixed assets, which is wider in scale than depreciation by the length of the period of creation of new capacities to replace retired ones. The period of incorporation of the depreciation fund into new tools, in our opinion, cannot be included in the depreciation process; this is a new, independent stage in the circulation of funds. The task of depreciation is to reimburse the costs incurred in fixed assets, the accumulation and return of invested funds, not ensuring the reproduction of production potential.

The amount of depreciation must correspond to the real participation of the fixed assets used in the formation of a new value. If this is not achieved when constructing depreciation rates, and less or more funds are written off for depreciation than is objectively necessary, there is a transfer of funds from the compensation fund to the accumulation fund or vice versa. At the same time, the reliability of accounting for financial sources of reproduction is violated, and, consequently, the possibility of managing their rational spending becomes more complicated. Such deviations should be neutralized by timely adjustment of depreciation rates. No more depreciation can be written off for products and no less depreciation must be written off than is due to the real costs of fixed assets for production. Depreciation rates should be designed in such a way as to ensure full recovery of advanced investments in fixed assets, regardless of future renewal needs. If after the expiration of the period of turnover of fixed assets the price of a unit of production capacity increases, then additional resources for the creation of new funds to replace those that have retired must be found at the expense of the national income accumulation fund. Depreciation should not predetermine the possibilities of long-term development of production.

To adequately reflect the process of transferring the cost of equipment to the manufactured product by depreciation, two tasks must be solved: to give a reliable estimate of this cost and to correctly organize the procedure for writing it off to cost using depreciation rates. Not that part of the cost of the machines for which they were purchased several decades ago, but that which they possess at any given moment in time, should be transferred to the manufactured product. Depreciation should be charged not from the original, but from the replacement cost of the means of labor. Moreover, for the reliability of depreciation, it is important to revaluate fixed assets as often as possible.

For a long period of time, depreciation in our country was divided into full restoration and major repairs. At the same time, the preliminary rationing of the costs of major repairs as part of depreciation contradicts its essence. Depreciation is the gradual repayment of investments made in fixed assets at the expense of the cost of production, and the use of funds for major repairs in relation to the time depreciation is charged is, as a rule, an element of the costs of the future period. In other words, the costs of acquiring new equipment and repairing it are fundamentally different.

Hence the difference in the ways of financing the costs of complete restoration and major repairs. If the reimbursement of funds advanced to fixed assets involves the regular inclusion in the price of manufactured products of an appropriate share of depreciation of fixed assets, then to finance repairs, as well as other elements of current production costs, no preliminary rationing is required as part of depreciation rates. These costs should be directly included in the cost of production as repairs are needed.

If the cost of major repairs in without fail are included in the cost of production through depreciation rates, then there is no incentive to reduce them. If these costs are included in the cost of production as needed, without prior rationing, then if there is economic feasibility, there is an interest in replacing outdated equipment with new equipment without inefficient repairs.

2.2 Appointment of depreciation in simple and extended reproduction of fixed production assets

According to the economic purpose, the depreciation fund should accumulate financial resources for the simple reproduction of fixed assets, i.e., ensure the replacement of retired labor instruments. Statistics show that the annual amount of depreciation deductions significantly exceed the size of the corresponding disposal of fixed assets. The excess of the accrued depreciation of the annual disposal of fixed assets has a steady upward trend. In this regard, in the economic theory and practice of management, an opinion has developed about the natural nature of the excess of depreciation in comparison with the need for funds to restore worn-out funds and the possibility of its withdrawal for accumulation.

The question of the possibility of using depreciation deductions for expanded reproduction is one of the most difficult and debatable. It has been discussed in the economic literature for many years, but has not been finally resolved. An opinion is expressed according to which the depreciation fund cannot serve as a source of accumulation of fixed assets. At the same time, most economists argue that under modern conditions, depreciation charges are naturally a source of expanded reproduction of fixed assets, a source of their accumulation. Many researchers, while recognizing the direct economic purpose of the depreciation fund as a source of simple reproduction, do not exclude at the same time the possibility of using it for expanded reproduction.

In connection with the growth of production potential and the need to intensify its use, special requirements are put forward for the policy of compensation for labor instruments, the shortcomings of which are currently manifested in a slowdown in the replacement of worn-out assets, the accumulation of a significant amount of obsolete equipment in some sectors of the economy, with all the ensuing negative consequences. Therefore, the rational use of the depreciation fund is a significant reserve for increasing production efficiency. The apparent excess of the accrued depreciation amounts of the need to compensate for the retired means of labor, the natural formation in the depreciation fund of a constant surplus of funds that supposedly can be used for accumulation, is explained, as a rule, by the action of two factors - scientific and technological progress and the peculiarities of the circulation of fixed assets. In connection with scientific and technological progress, labor productivity is growing, so the cost of reproducing fixed assets should decrease. As a result, to compensate for their use value, less funds are required than accumulated in the depreciation fund. In other words, in order to restore the total capacity of retired tools of labor, it is necessary to spend less money than provided for by depreciation rates. Restoration of the used means of production in their former sizes leads to an increase in their power and efficiency. In this case, the amount of accumulated depreciation makes it possible to meet the needs of not only simple, but also extended reproduction.

However, the effect of scientific and technological progress is not the result of the turnover of the compensation fund. It is formed as a result of additional investments from the accumulation fund in the development of science and technology and is the result of the use of a net product.

If, as a result of scientific and technological progress, the cost of reproducing a unit of production capacity decreases, then the depreciation fund should be reduced by an appropriate amount. Otherwise, the depreciation mechanism will not be linked to the actual value transfer process. If more funds are sent from the volume of the produced product to the compensation fund than are due to the actual costs of production, then as a result, the value of the national income is underestimated. In this case, the depreciation fund accumulates, along with the funds necessary to compensate for the means of labor, and part of the accumulation fund. And, conversely, with an increase in the cost of reproduction of a unit of production capacity, a corresponding increase in the depreciation fund is necessary. Otherwise, it cannot fully cover the needs of compensation for the means of labor.

If the initial cost of the means of labor, on the basis of which "the depreciation amount is calculated, coincides with the replacement cost, and the depreciation rates correctly reflect the possible service lives of fixed assets, and these terms are observed, then the depreciation fund can only meet the needs of simple reproduction. If these conditions are not met , then the size of the depreciation fund deviates from the needs of normal compensation and must be adjusted.If the depreciation fund has accumulated part of the funds that, if the depreciation is correctly calculated, should have been included in the accumulation fund, then their excess can be withdrawn to expand production. compensation must be replenished from the accumulation fund.Thus, the surplus of funds in the depreciation fund is not the result of scientific and technological progress, but is formed due to shortcomings in the depreciation system.

In the conditions of declining rates of accumulation of fixed assets, the depreciation fund, with its partial withdrawal, still provides for the needs of compensation. Withdrawal of surplus depreciation sums does not really infringe on simple reproduction. However, when making additional investments from the accumulation fund, one should focus not on simple, but on expanded reproduction. Therefore, before withdrawing a visible excess of depreciation, it is necessary to determine how this will affect the rate of expansion of production provided for by additional investments.

When making additional capital investments in any economic link, it makes no sense to partially withdraw it - depreciation means for accumulating the potential of other links of production. By investing capital funds, we assume a certain rate of expansion, and by withdrawing depreciation, we reduce the provided rate. This means that if a certain economic link has reached a state in which it fully satisfies social needs, and it becomes possible to reduce the rate of expanded reproduction in this link, then this should be done not by withdrawing the depreciation fund, but by reducing financing from the accumulation fund.

Thus, depreciation in itself cannot be a source of accumulation of fixed assets either under simple or extended reproduction. The constant excess of the accrued depreciation of the annual disposal of fixed assets with expanded reproduction is natural. It is due to additional attraction of funds and represents the accumulated depreciation of newly commissioned fixed assets. The withdrawal of a visible excess of depreciation is unacceptable, as this complicates the process of reproduction. If the depreciation process is consistent with the actual value transfer process, the depreciation fund should only be used for its intended purpose. Accrued depreciation must remain at the disposal of enterprises and directed by them to finance the simple reproduction of fixed assets.

2.3 The role of depreciation in the accumulation of fixed assets.

The processes of accumulation and reimbursement of fixed assets are closely interrelated. Their differentiation is very problematic, which causes a lot of opposite conclusions when analyzing the same economic phenomena. Thus, the study of statistical indicators of the reproduction of fixed assets by some researchers led to the conclusion that there is a process of overaccumulation and the created production capacities are excessive in comparison with the real possibilities of society. Other economists have argued that the processes of accumulation are in crisis, that the country lags behind the industrialized powers in terms of actual savings per capita. Therefore, increasing the rate of accumulation is an urgent vital necessity.

The reimbursement and accumulation of fixed assets can be analyzed by examining the structure of sources of financing for capital investments, as well as by studying the indicators of the balance of fixed assets, reflecting the trends in their commissioning, disposal and depreciation. Let's consider both directions in order to identify the existing ratios of compensation and accumulation and their influence on each other.

The sources of capital investment financing are the part of the National Income Compensation Fund, which includes depreciation for renovation, and the part of the Accumulation Fund, used to create fixed assets. Thus, gross capital investment consists of costs financed by depreciation and the so-called net capital investment, the source of which is national income. The resources of the depreciation fund should reflect the costs of compensating for the wear and tear of the means of labor, and net capital investments should reflect the process of accumulation.

In the structure of sources of financing capital investments, the share of depreciation naturally increased. This is an objective trend caused by the growth of production potential. After all, the larger the volume of fixed assets, the more funds are needed for their annual reimbursement.

The use of depreciation resources for accumulation is illegal. In its essence, depreciation is only a source of simple reproduction. If the process of accruing depreciation corresponds to the process of transferring value, the depreciation fund can only serve as a source of compensation for the means of labor. The diversion of its resources for accumulation leads to significant losses of living and materialized labor. The long-term withdrawal of renovation resources in favor of the accumulation of means of labor has led to the accumulation of an excess need for compensation, which can now be realized only if the resources of the accumulation fund are temporarily used.

Thus, an analysis of the sources of financing of capital investments indicates a discrepancy between the actual processes of accumulation and compensation and the financial resources intended for them. The size of the accumulation exceeds the resources of the national income intended for these purposes, which occurs to the detriment of the normative compensation.

Let us analyze the same processes in a different way. Let us consider the ratio of accumulation and compensation of means of labor on the basis of indicators of the balance of fixed assets. Let's compare the annual commissioning of fixed assets with accrued depreciation.

Comparison of the input and depreciation of fixed assets at the global level is illegal; in fact, as a rule, they are not observed in terms of object correspondence. The commissioning of new capacities is by no means always carried out precisely in those sectors of the national economy where, judging by the accumulated depreciation, this is primarily necessary. In other words, the processes of capital investment and depreciation do not directly overlap.

So, the determination of the scale of accumulation of fixed assets by comparing the commissioning of new facilities and depreciation in old industries is incorrect. An increase in the share of depreciation compared to the scale of commissioning of fixed assets cannot indicate an increase in investment costs for reimbursement, but only reflects the strengthening trends in the aging of labor tools. Accrued depreciation is only a potential financial resource of compensation, although it is far from always spent for its intended purpose.

Comparison of depreciation with the commissioning of fixed assets rather characterizes the existing contradiction between their accumulation and reimbursement. This comparison only confirms that in some links of production, extremely worn-out funds supported by repairs were accumulated, the further operation of which threatened with a catastrophe, while in others additional capacities were introduced. Thus, there was a polarization of the processes of accumulation and aging of the created production potential.

The simple reproduction of fixed assets should be given priority in investment policy, and the opportunities for productive accumulation should be determined on a residual basis, strictly in accordance with that part of the national income resources that society is able to use to expand the created potential. The direction of net capital investments, i.e. expenses from the accumulation fund, should be regulated economic methods in a centralized manner. This is necessary because enterprises are not able to fully take into account all the prospective changes in social needs. Depending on the dynamics and structure of the population, the prospects for scientific and technological progress, the expected restrictions on raw materials and fuel and energy resources, the possibilities of cooperation with other regions and other factors, priorities in the distribution of accumulation resources should be determined. These priorities should be implemented with the help of tax and credit policies. .

Thus, a contradictory situation with the reproduction of daily funds has developed in the national economy. Due to the extensive focus investment policy most of the resources have been used for the accumulation of fixed assets for many years. A stable priority of new construction was established, and the reconstruction of the existing production was carried out insufficiently. Numerous government decrees have failed to change this trend. The needs of simple reproduction were determined by the residual method, which led to the withdrawal of depreciation funds from enterprises and their use for accumulation. As a result, the production and technical potential has grown to incredible proportions, but it is extremely worn out and inefficient. Old enterprises require high costs to maintain obsolete facilities. New industries, created to a large extent at the cost of infringing on the needs of reproduction at old enterprises, cannot develop effectively due to a lack of material and labor resources.

Excessive accumulation, which does not correspond to real possibilities, objective conditions for the functioning of the economy, does not give the expected effect, but causes an increase in losses. There was neither a normal use of the created potential, nor effective accumulation in the country. Both processes mutually infringe on each other. It is necessary to normalize the process of compensation of means of labor and fully transfer it to a market basis, which will allow timely improvement of the created production potential, taking into account the dynamic structure of current demand. Such an order, along with an approximation to the structure of needs, should also ensure a significant increase in the efficiency of existing capacities.

The process of production accumulation in the current crisis situation must be strictly controlled by society. To expand production, it is unacceptable to attract either the resources of the consumption fund or the means of compensation. Due to the investment opportunities of society, the limited resources of accumulation should be centrally regulated and controlled taking into account long-term needs.

Conclusion

Summarizing the results of the work done, the following conclusions can be drawn:

The fixed assets of an enterprise are 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 managing the organization for a long time.

By appointment, the fixed assets of the enterprise are divided into production fixed assets and non-production.

Taking into account the duration of the use of fixed assets in the activities of the enterprise and their repeated use in the production process, the cost of fixed assets is transferred to the manufactured product in parts, i.e. is gradually repaid during their useful life through monthly depreciation charges, which are included in production or distribution costs for the corresponding reporting period.

The condition and use of fixed assets is one of critical aspects analytical work, since they are the material embodiment of scientific and technological progress - the main factor in increasing the efficiency of any production. The main direction of increasing the efficiency of using equipment is to improve its structure and increase the efficiency of its use. It is important to eliminate the relative excess of equipment, which affects economic indicators enterprises. The need to assess fixed assets is due not only to the need to assess the efficiency of the use of fixed assets, but also to the system for determining their qualitative state: the degree of wear.

The main production assets of enterprises make an economic cycle, consisting of the following stages: depreciation, depreciation, accumulation of funds for the complete restoration of fixed assets, their replacement through capital investments.

All objects of fixed assets (PF) are subject to physical and moral deterioration, i.e. under the influence of various factors, they lose their properties, become unusable and can no longer perform their functions. Physical deterioration can be partially compensated for by repair, reconstruction and modernization. Obsolescence is manifested in the fact that fixed assets are inferior to the latest models in all their characteristics. Therefore, periodically there is a need to replace fixed assets, especially their active part. At the same time, in the modern economy, obsolescence is the main factor determining the need for replacement.

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1.4. Sources of financing the reproduction of fixed assets.

Sources of financing the reproduction of fixed assets are divided into own and borrowed.

Reproduction has two forms:

simple reproduction, when the cost of compensating for the depreciation of fixed assets corresponds to the amount of accrued depreciation;

extended reproduction, when the cost of compensating for the depreciation of fixed assets exceeds the amount of accrued depreciation.

The sources of own funds of firms for financing the reproduction of fixed assets include:

depreciation;

depreciation of intangible assets;

profit remaining at the disposal of the firm.

The sufficiency of sources of funds for the reproduction of fixed capital is of decisive importance for the financial condition of the company.

Borrowed sources include:

bank loans;

borrowed funds from other firms;

equity participation in construction;

funding from the budget;

funding from extrabudgetary funds.

Working capital (funds) of the company.

Working capital (working capital) is a part of the firm's (enterprise's) capital invested in its current assets. On a material basis, working capital includes: objects of labor (raw materials, materials, fuel, etc.), finished products in warehouses, goods for resale, cash and funds in settlements.

A characteristic feature of working capital is the speed of their turnover. The functional role of working capital in the production process is fundamentally different from fixed capital. Working capital ensures the continuity of the production process.

The circulation of capital covers three stages: procurement, production and marketing.

Any business starts with some amount of cash that is deployed into a certain amount of resources for production.

D - T - ... P ... T' - D'

Fig.1. Stages of circulation of working capital.

The elements of working capital are part of the continuous flow of business transactions. The purchase results in an increase in inventories and accounts payable; production leads to an increase in finished products; sales lead to an increase in accounts receivable

debts and cash in cash and on the current account. This cycle of operations is repeated many times and eventually comes down to cash receipts and cash payments.

Elements of circulating capital continuously move from the sphere of production to the sphere of circulation and again return to production. Part of the working capital is constantly in the production sphere (inventory, work in progress, finished products in stock

etc.), and the other part - in the sphere of circulation (shipped products, cash, securities, etc.).

In the practice of planning, accounting and analysis, working capital is grouped according to the following criteria:

depending on the functional role in the production process - circulating production assets and circulation funds;

depending on the practice of control, planning and management - standardized and non-standardized working capital;

depending on the sources of working capital formation - own and borrowed working capital;

depending on liquidity - absolutely liquid funds, quickly realizable funds, slowly realizable funds;

depending on the degree of capital investment risk - working capital with minimal, low, medium, high investment risk;

depending on accounting standards and reflection in the company's balance sheet - working capital in stocks, cash, settlements and other assets;

depending on the material content - objects of labor, finished products and goods, cash and funds in settlements.

Weights of bills received in the total amount accounts receivable indicates an increase in its reliability and liquidity. The period of capital in cash or the period of debt collection 2. Analysis of the financial stability of the enterprise The main tasks of the analysis: 1. assessment and forecasting financial stability enterprises; 2. search for reserves to improve the financial condition ...

Resources per 1 ruble of revenue also decreased by 18%. Therefore, despite the attraction of borrowed funds in the form of loans, the company effectively uses working capital. However, in general, characterizing the use of fixed and working capital, there is a tendency to reduce the rate of labor productivity at TEMRO LLC due to an increase in the depreciation of fixed production assets. ...

In natural and value form. Working capital occupies the second place in terms of its value after fixed capital in the total amount of resources that determine the economy of an economic entity. Since working capital is a significant amount, its rational use is an important requirement for the successful conduct of the economy. IN financial activities working capital and

Calculation and analysis of the composition, size and structure of the fixed and working capital of the enterprise, their availability and their use; learn how to improve economic efficiency the use of fixed and working capital on the example of the farm "Makhrova" of the Tengushevsky district of the Republic of Moldova. 1. Organizational and legal framework and a brief natural and economic description of the KFH "Makhrova" ...

Reproduction of fixed assets forms sources of financing. Sources of fixed assets financing

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Main activities

Mission of JSC "Promtractor"

Solving consumer problems for completing and maintaining life cycle wheeled and tracked vehicles and technological complexes for excavation, movement of bulk materials, pipeline construction and logging.

The economic indicators of 2007 testify to the dynamic development of the enterprise.

Profit from sales in 2007 increased compared to 2006 by 224 585 year thousand rubles or by 25.459%., and in 2007. net profit amounted to 579 945 thousand rubles, which is 26.46% more than in the same period of 2006.

Costs per 1 rub. marketable products amounted to in 2007. 82.2 kop. against 81.3 kop. in 2006

Return on sales indicators are decreasing in 2007 as compared to 2006. at 5.33.

In 2007 profitability equity amounted to 20.1%.

Table 2

Personnel, labor and wages 2006-2007

Pace

Rejection-

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More articles on economics

Introduction

1. Essence, classification and formation of fixed assets and property of the enterprise

2. Sources of financing the reproduction of fixed assets

2.1 Depreciation as a category for depreciation of fixed assets

2.2 Appointment of depreciation in simple and extended reproduction of fixed production assets

2.3 The role of depreciation in the accumulation of fixed assets.

Conclusion

Bibliography:

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