Any society to ensure a normal (quite comfortable) level of his life activity, he performs many types of specific labor. For this purpose, certain organizations are created that jointly carry out a particular mission and operate on the basis of certain rules and procedures. An enterprise (organization) is an organizationally separated and economically independent main (primary) link production area national economy that manufactures products, performs work or provides services.

In the practice of management, each enterprise, as a complex production and economic system, carries out many specific activities. Each enterprise independently plans its activities and determines the prospects (strategy) of development, based on the demand for manufactured products (work, services performed) and the need to constantly increase its own profits, and also provides logistics for production.

The functioning of the enterprise is accompanied by a continuous circulation of funds, carried out in the form of resource costs and income generation, their distribution and use.

Every business has a specific goal. There may be several goals, they are usually set by the owners, and to achieve them, material and human resources are used, with the help of which financial and economic activities are carried out. That is, in essence, financial and economic activity is a tool for achieving hierarchical, economic and other goals facing a particular enterprise.

Financial and economic activity is purposeful process practical implementation enterprise functions related to the formation and use of its financial resources to ensure economic and social development. It is carried out at all stages life cycle enterprise: from the moment of its birth to the moment of its liquidation as an independent business entity. The process of implementing financial economic activity an enterprise is characterized by a wide range of its financial relations with various entities financial system countries.

The financial and economic activity of the enterprise is characterized, first of all, by the number and range of products, as well as the volume of its implementation. The volume of manufactured products directly depends on the availability and quality of production facilities, the availability of the necessary raw materials, materials or components, personnel of appropriate qualifications, and product sales markets.

In turn, the volume of manufactured products affects all other aspects of the financial and economic activities of the enterprise - the cost of products, the amount of profit received, profitability production, the financial condition of the enterprise.

The financial and economic activity of enterprises is a purposeful activity based on decisions made, each of which is optimized based on intuition or calculations. The risk of making a decision is understood as the probability that the results of the implemented decision do not correspond to the set goals.

There are a lot of factors influencing the financial and economic activity of an enterprise or organization. Not all of them can be analyzed. The most important are the available resources - financial, material, personnel.

Purpose of financial and economic activity- getting the best possible results. The tasks that are solved when the goal is achieved are: providing the production process with resources and managing them; organization of the production and technological process; generating positive results. The objectives of the management of financial and economic activities are: planning, control, adjustment, analysis, efficiency improvement.

Financial and economic activity acts as an activity, first of all, about its basis - the finances of the enterprise. However, the effectiveness of the organization of finance acts as the financial condition of the enterprise. The latter depends on effective organization the entire cash flow. Therefore, financial and economic activity as a concept covers a wide range of activities within the enterprise, consisting of control over the provision of cash settlements, the receipt of cash income and expenses, the formation and distribution of cash savings and financial resources.

The diverse financial and economic activities of the enterprise are carried out on the basis of planned and forecast current and operational financial documents. The objects of planning, regulation and control in them are monetary and financial relations, materialized in the corresponding indicators. The main objects of financial and economic activity are those diverse monetary and financial relations of enterprises that constitute the content of enterprise finance.

The efficiency of the financial and economic activity of an enterprise should be understood as its result, obtained or potentially possible in the process of converting certain resources into the final product (work, service). The level of efficiency of the financial and economic activities of the enterprise is characterized by the level of its costs, results and financial condition. That is why, in order to determine the level of efficiency of the financial and economic activities of an enterprise, it is necessary to calculate a set of indicators characterizing its cost intensity, performance and financial condition.

To determine the essence of the financial and economic activities of the enterprise, it is necessary to define the main components of its elements. Such elements are: the finances of the enterprise, the structure of the funds of the enterprise, the structure of the property of the enterprise, the goals financial analysis, subjects of analysis.

Savitskaya G.V. writes that in market conditions, the finances of enterprises acquire especially importance. The growing role of enterprise finance should be seen as a worldwide trend.

The main goal of assessing the financial and economic activities of an enterprise, according to Strazhev V.P., is to obtain a small number of key (most informative) parameters that give an objective and accurate picture of the financial condition of the enterprise, its profits and losses, changes in the structure of assets and liabilities, in settlements with debtors and creditors, which will be discussed in the next paragraph of the final qualifying work.

1. INTRODUCTION……………………………………………………………….

2. MAIN PART……………………………………………………

2.1 THEORETICAL PART………………………………………..

2.1.1 ANALYSIS OF LABOR PRODUCTIVITY FOR

INDUSTRIAL ENTERPRISES…………………… …

2.2 PRACTICAL PART………………………………………...

2.2.1 AGGREGATED BALANCE…………………….………

2.2.2. EVALUATION OF COMPOSITION AND STRUCTURE DYNAMICS

BALANCE ASSETS………………………………………….

2.2.3. EVALUATION OF COMPOSITION AND STRUCTURE DYNAMICS

LIABILITY BALANCE……………………………………………

2.2.4. FINANCIAL SUSTAINABILITY ANALYSIS

ENTERPRISES…………………………………………………

2.2.5. RELATIVE INDICATORS OF FINANCIAL

STABILITY……………………………………………...

2.2.6. LIQUIDITY ANALYSIS AND

SOLVENCY OF THE ENTERPRISE……………….

2.2.7. CASH FLOW ANALYSIS…………….

3. CONCLUSION……………………………………………………………

4. REFERENCES………………………………………………..

5. APPENDICES…………………………………………………………….

1. INTRODUCTION

The transition to a market economy requires enterprises to increase production efficiency, competitiveness of products and services based on the introduction of scientific and technological progress, effective forms of management and production management, overcoming mismanagement, enhancing entrepreneurship, initiative, etc.

An important role in the implementation of this task is assigned to the analysis financial and economic activities of enterprises. With its help, the ways of development of the enterprise are chosen, plans are developed and management decisions, as well as monitoring their implementation, identifying reserves for increasing production efficiency, evaluating the performance of the enterprise, its divisions and employees

Analysis of the financial and economic state of the enterprise begins with the study of the balance sheet, its structure, composition and dynamics. For a complete study of the balance sheet, it is necessary to consider next questions:

Basic concepts of balance;

Meaning and functions of balance

The structure of the balance sheet

First, let's define a balance sheet.

The balance sheet is information about the financial position of an economic unit at a certain point in time, reflecting the value of the property of the enterprise and the cost of funding sources.

In economics, the balance sheet is the main source of information. With it, you can:

Familiarize yourself with the property status of an economic entity;

Determine the solvency of the enterprise: will the organization be able to fulfill its obligations to third parties - shareholders, creditors, buyers, etc.

Define final financial results enterprise operations, etc.

The balance sheet is a way of reflecting in monetary terms the state, placement, use of enterprise funds in relation to their sources of financing. In form, the balance sheet consists of two sections of the Asset and Liabilities, the results of which are equal to each other, this equality is the most important sign of the correctness of the balance sheet.

The structure of the balance sheet is such that the main parts of the balance sheet and their articles are grouped in a certain way. This is necessary to perform analytical studies and assess the structure of the asset and liability.

When conducting a balance sheet analysis, the following should be considered:

financial information, incorporated into the balance sheet, is of a historical nature, i.e. shows the position of the enterprise at the time of reporting;

In terms of inflation, there is a biased reflection in the time interval of the results of economic activity;

Financial statements carries information only at the beginning and end of the reporting period, and therefore it is impossible to reliably assess the changes occurring during this period.

Another important aspect analysis of the balance sheet structure is the definition of the relationship between the asset and the liability of the balance sheet, since in the process production activities there is a constant transformation of individual elements of the asset and liability balance. Each liability group is functionally related to the balance sheet asset, for example, loans are intended for replenishment. working capital. Some of the long-term liabilities finance both current and non-current assets. The same interaction is observed in the case of repayment of external obligations. current assets must exceed short-term liabilities, that is, part of current assets repays short-term liabilities, the other part repays long-term liabilities, the rest goes to replenish equity.

2. MAIN PART

2.1 THEORETICAL PART

ANALYSIS OF LABOR PRODUCTIVITY AT INDUSTRIAL ENTERPRISES.

To assess the level of labor productivity, a system of generalizing, partial and auxiliary indicators is used.

To general indicators include the average annual, average daily and average hourly output per worker, as well as the average annual output per worker in value terms.

Private indicators - this is the time spent on the production of a unit of a product of a certain type (labor intensity of products) or the output of a product of a certain type in physical terms in one man-day or man-hour.

Auxiliary indicators characterize the time spent on performing a unit of a certain type of work or the amount of work performed per unit of time.

The most general indicator of labor productivity is average annual output per worker. Its value depends not only on the output of workers, but also on specific gravity latest in total strength industrial and production personnel, as well as the number of days worked by them and the length of the working day (Fig. 1).

From here average annual output per worker can be represented as a product of the following factors:

GV = UD * D * P * SV. (1)

The calculation of the influence of these factors is carried out by the methods of chain substitution, absolute differences, relative differences or the integral method.

Rice. one . The relationship of factors that determine the average annual output of an employee of an enterprise

Must be analyzed change in average hourly output as one of the main indicators of labor productivity and a factor on which the level of average daily and average annual output of workers depends. The value of this indicator depends

from factors associated with changes in the labor intensity of products and its cost assessment. The first group of factors includes such as the technical level of production, the organization of production, unproductive time spent in connection with marriage and its correction. The second group includes factors associated with a change in the volume of production in terms of value due to a change in the structure of products and the level of cooperative deliveries. To calculate the influence of these factors on the average hourly output, the method of chain substitutions is used. In addition to the planned and actual level of average hourly output, it is necessary to calculate three conditional indicators of its value.

The first conditional indicator of average hourly output should be calculated under conditions comparable to the plan (for productive hours worked, with planned structure products and at the planned technical level of production). To obtain this indicator, the actual volume of production of marketable products should be adjusted for the amount of its change as a result of structural shifts and cooperative deliveries ∆VPstr, and the amount of time worked - for unproductive time (Tn) and above-planned time savings from the implementation of scientific and technological progress (Tae) which must be predetermined. Calculation algorithm:

SVusl = (VPf±∆VPstr)/(Tf-Tn±Te)

If we compare the result obtained with the planned one, then we will find out how it has changed due to the intensity of labor in connection with the improvement of its organization, since the other conditions are the same:

Second conditional indicator differs from the first one in that, when calculating it, labor costs are not adjusted for Tae

Svusl2=(VPf± ∆VPstr)/(Tf-Tn)

The difference between the obtained and the previous result will show the change in the average hourly output due to extra time savings due to the implementation of scientific and technical progress measures

Third conditional indicator differs from the second one in that the denominator is not adjusted for unproductive time costs:

SVuslZ= (VPf ± А∆VPstr) /Тf

The difference between the third and second conditional indicator reflects the impact of unproductive time expenditure on the level of average hourly output.

If we compare the third conditional indicator with the actual one, we will find out how the average hourly output has changed due to structural changes in production.

Big role in the study of the influence of factors on the level of average hourly output, methods of correlation and regression analysis play. AT multivariate correlation model of average hourly output the following factors can be included: capital-labor ratio or energy-to-labor ratio; percentage of workers with higher qualification, average service life of equipment, the share of progressive equipment in its total cost, etc. The coefficients of the multiple regression equation show how many rubles the average hourly output changes when each factor indicator changes by one in absolute terms. In order to find out how the average annual output of workers has changed due to these factors, it is necessary to multiply the resulting increases in average hourly output by the actual number of man-hours worked by one worker:

∆GVхi = ∆СBxi, * Df * Pf.

To determine their impact on the average annual output of an employee, the resulting increments are needed average annual output workers multiplied by the actual share of workers in the total number of production and industrial personnel: ∆ГВхi = ∆ГВх *Udf

In order to calculate the influence of these factors on the change in the volume of output, the increase in the average annual output of an employee due to the i-th factor should be multiplied by the actual average number of industrial and production personnel:

∆WPxi = ∆GWxi *PPP or change in average hourly output due to i-th factor multiplied by the actual value of the length of the working day, the number of days worked by one worker per year, the share of workers in the total number of employees and average headcount employees of the enterprise:

∆VPxi = ∆SVxi *Pf *Df *UDf *PPPf. (2)

You can achieve an increase in labor productivity by:

a) reducing the complexity of products, i.e. reducing labor costs for its production by introducing scientific and technical progress measures, comprehensive mechanization and automation of production, replacing outdated equipment with more advanced ones, reducing losses in working time and other organizational and technical measures in accordance with the plan;

b) fuller use production capacity enterprises, since with an increase in production volumes, only the variable part of the cost of working time increases, while the constant remains unchanged. As a result, the time spent on producing a unit of output is reduced.

RSV \u003d SVv - Saf \u003d (VPf + RVP) / (Tf-R ↓T + Td) - (VPf / Tf)

where R T SW ~ reserve for increasing average hourly output; SVD, SVf - accordingly, the possible and actual level of average hourly output; R T VP - a reserve for increasing gross output through the implementation of scientific and technological progress; tf- the actual cost of working time for the release of the actual volume of production; R^T - reserve for reducing working time due to mechanization and automation production processes, improving the organization of labor, improving the skills of workers, etc.; Td- additional labor costs associated with an increase in output, which are determined for each source of reserves for increasing production, taking into account the additional amount of work necessary for the development of this reserve, and production rates.

To determine the reserve for increasing output, it is necessary to multiply the possible increase in average hourly output by the planned working time fund for all workers:

RVP=RSV*Tv

2.2 PRACTICAL PART

2.2.1 AGGREGATED BALANCE SHEET

For analytical research and a qualitative assessment of the dynamics of the financial and economic condition of an enterprise, it is recommended to combine balance sheet items into separate specific groups - an aggregated balance sheet. The aggregated type of balance is used to determine the important characteristics of the financial condition of the enterprise and calculate a number of basic financial ratios.

In fact, the aggregated balance sheet implies a certain regrouping of the balance sheet items in order to allocate borrowed funds that are homogeneous in terms of terms of return.

On the basis of the aggregated balance of articles in section II of the balance sheet liabilities, the values ​​of Kt and Kt are obtained

Considering that long-term loans and borrowed funds are directed mainly to the acquisition of fixed assets and capital investments, we will transform the original balance formula

Z+Ra =((Is+Kt)-F)+ (Kt+Ko+Rp)

From this we can conclude that, subject to the limitation of reserves and costs Z by the value (Is + Kt) -F

Z<(Ис+Кт)-F

The solvency condition of the enterprise will be fulfilled, i.e. cash, short-term financial investments and active settlements will cover the short-term debt of the enterprise (Kt + Ko + Rp)

Thus, the ratio of the cost of material circulating assets and the values ​​of own and borrowed sources of their formation determines the stability of the financial condition of the enterprise.

The total amount of reserves and costs Z of the enterprise is equal to the total of section II of the asset balance.

On the left side of the equality, it has the difference between the working capital of the enterprise and its short-term debt, on the right side, by the value of the Et indicator. Thus, these transformations make it possible to establish reasonable relationships between indicators of the financial condition of the enterprise.

Table No. 1 Balance sheet of the enterprise (in aggregate form).

2.2.2. EVALUATION OF THE DYNAMICS OF THE COMPOSITION AND STRUCTURE OF THE BALANCE ASSET

Assets are usually understood as the property in which money is invested. Become and sections of the balance are arranged depending on the degree of liquidity of the property, that is, on how quickly a given asset can acquire a monetary form.

Analysis of the asset makes it possible to establish the main indicators characterizing the production and economic activities of the enterprise:

1. The value of the property of the enterprise, the total balance sheet.

2. Immobilized assets, total of section I of the balance sheet

3. The cost of working capital, the result of section II of the balance sheet

With the help of analysis, you can get the most general idea of ​​the qualitative changes that have taken place, as well as the structure of the asset, as well as the dynamics of these changes.

Table No. 2 Analysis of the composition and structure of the asset balance

After analyzing the data of the analytical table No. 2, we can draw the following conclusions.

The total value of the property decreased during the reporting period by 1.68% (100-98.32), which indicates a decline in the economic activity of the enterprise;

Reducing the value of property by 25.48 rubles. was accompanied by internal changes in the asset: with a decrease in the value of non-current assets by 23.06 (decrease by 1.9%), there was also a decrease in working capital by 2.42 (decrease by 0.79%)

The decrease in the cost of non-current assets as a whole was due to a decrease in intangible assets by 1.26% and a decrease in the cost of working capital by 27.82%.

There was a decrease by 3.97 points in settlements with debtors.

Cash also increased by 29.4 points.

Based on the overall assessment of the balance sheet asset, a decrease in the productive potential of the enterprise was revealed, which is regarded as a negative trend.

2.2.3. EVALUATION OF THE DYNAMICS OF THE COMPOSITION AND STRUCTURE OF THE LIABILITY BALANCE

For a general assessment of the property potential of the enterprise, an analysis of the composition and structure of the obligations of the enterprise is carried out.

The liability of the balance sheet reflects the sources of financing of the enterprise's funds, grouped on a certain date according to their ownership and purpose. In other words, the passive shows:

The amount of funds invested in the economic activity of the enterprise;

The degree of participation in the creation of the property of the organization.

Liabilities to owners constitute an almost constant part of the balance sheet liability, which is not subject to repayment during the operation of the organization.

An important aspect of the analysis of the structure of the balance sheet is the definition of the relationship between the asset and the liability of the balance sheet, since in the process of production activity there is a constant transformation of individual elements of the asset and liability balance. Each liability group is functionally related to an asset. Non-current assets are associated with equity and long-term liabilities, and current assets with short-term liabilities and long-term liabilities.

It is believed that in a normally functioning enterprise, current assets should exceed short-term liabilities. The other part repays long-term obligations, the rest goes to replenish equity

Table No. 3 Analysis of the composition and structure of the balance sheet liabilities.

The data in table No. 3 indicates that the decrease in the value of property is mainly due to a decrease in the company's own funds. Equity capital decreased by 25.48 rubles

It should also be noted that the company practically does not attract long-term borrowed funds, i.e. there is no investment in production. Attention is drawn to the fact that in the composition of short-term liabilities, a significant amount is occupied by accounts payable in the absence of short-term bank loans, i.e. financing of working capital comes mainly from accounts payable. Its share in the structure of the company's liabilities decreased to 62.86%.

In general, there is a low autonomy of the enterprise (the share of equity capital was 35.22%) and a low degree of use of borrowed funds.

2.2.4. ANALYSIS OF THE FINANCIAL STABILITY OF THE ENTERPRISE

One of the main tasks of the analysis of the financial and economic state is the study of indicators characterizing the financial stability of the enterprise. The financial stability of an enterprise is determined by the degree of provision of reserves and costs by own and borrowed sources of their formation, the ratio of the volume of own and borrowed funds and is characterized by a system of absolute and relative indicators

In the course of production activities at the enterprise, there is a constant formation (replenishment) of stocks of inventory items. For this, both own working capital and borrowed funds (long-term and short-term loans and borrowings) are used; Analyzing compliance or discrepancy (surplus or shortage), funds for the formation of stocks and costs, determine the absolute indicators of financial stability.

Table No. 4 Analysis of the financial stability of the enterprise.

Continuation of table No. 4

The data of table No. 4 give us the opportunity to understand that this enterprise is in a critical position, this is determined by the conditions:

three-dimensional indicator S=(0.0.0)

A financial crisis is the brink of bankruptcy: the presence of overdue accounts payable and receivable and the inability to repay them on time. In a market economy, with repeated repetition of such a situation, the enterprise is threatened with declaring bankruptcy.

This conclusion is made on the basis of the following conclusions:

Stocks and costs are not covered by own working capital

The main reason for the deterioration of the financial position of the enterprise is that its own working capital and the total value of the sources of formation (Еа) decreased by 94.73%.

2.2.5. RELATIVE INDICATORS OF FINANCIAL STABILITY

The main characteristic of the financial and economic condition of the enterprise is the degree of dependence on creditors and investors. It is desirable that in the financial structure of the organization there should be a minimum of own capital and a maximum of borrowed capital. Borrowers evaluate the stability of the enterprise by the level of equity capital and the probability of bankruptcy.

Financial stability depends on the state of own and borrowed funds.

The analysis is carried out by calculating and comparing the obtained values ​​of the coefficients with the established base values, as well as studying their dynamics from changes during the reporting period.

Table No. 5 Calculation and analysis of relative financial stability ratios.

Continuation of table No. 5

Based on the data in Table 5, we can conclude that financial independence is high. This is confirmed by the high value of the autonomy coefficient (Ka). Despite the decrease in the property potential of the enterprise by 1.75%, it managed to maintain its financial position. However, there is a decrease in the maneuverability coefficient, it decreased by 7.4%, and at the end of the year its value was 1.26. This is due to the fact that most of the funds are invested in non-current assets, which is confirmed by the low value of the ratio of mobile and immobilized funds (Km/i).

2.2.6. ANALYSIS OF LIQUIDITY AND SOLVENCY OF THE ENTERPRISE.

The need for balance sheet liquidity analysis arises in market conditions due to increased financial constraints and the need to assess the creditworthiness of an enterprise. The liquidity of the balance sheet is defined as the degree of coverage of the obligations of the enterprise by its assets, the period of transformation of which into cash corresponds to the maturity of the obligations.

The liquidity of assets is the reciprocal of the liquidity of the balance sheet by the time the assets are converted into cash. The less time it takes for this type of asset to acquire a monetary form, the higher its liquidity.

Analysis of the liquidity of the balance sheet consists in comparing the funds of the asset, grouped by the degree of their liquidity and location in descending order of liquidity, with the liabilities of the liability, grouped by their maturity and arranged in ascending order of terms.

Table No. 6 Analysis of the liquidity of the balance sheet of the enterprise.

Continuation of table No. 6

The asset of this balance sheet was filled in by an accountant, not taking into account some factors, which led to the discrepancy between the table on the asset balance sheet.

The data in table No. 6 make it clear and evaluate not only the enterprise, but also how the balance sheet was filled.

After analyzing this table, we will see that at this enterprise there is a lack of the most liquid, quickly selling and difficult to sell assets, but there are too many slowly selling assets.

The percentage of coverage of obligations is very small, which gives a negative characteristic of this enterprise.

2.2.7. CASH FLOW ANALYSIS.

The need for cash flow analysis is due to the fact that sometimes a rather paradoxical situation arises in economic activity when a profitable enterprise cannot make settlements with its employees.

The main purpose of the cash flow analysis is to assess the ability of the enterprise to generate cash in the amount and in time required to implement the planned costs. The solvency and liquidity of an enterprise are often dependent on the real cash flow of the enterprise in the form of a stream of cash payments passing through the accounts of an economic entity.

Table No. 7 Calculation and analysis of liquidity ratios

After analyzing table number 7, we see that:

In the reporting period, the cash balance increased by 0.05 rubles. and at the end of the period amounted to 0.44 rubles.

Accounts receivable decreased by 3.54, which amounted to 85.74 at the end, while inventories increased by 1.07.

3. CONCLUSION

After a fairly thorough analysis of the enterprise on its balance sheet, it is possible to give a complete description of the work of the enterprise in the reporting period.

What is clearly shown in this course project.

After all, having analyzed the balance sheet of the enterprise, it became clear to us that the enterprise almost does not carry out operations, take at least a current account, it has changed by 0.05 t.r for the reporting period. The situation is similar with other operations at this enterprise.

Having made all the calculations and conclusions, it becomes clearly visible that this enterprise is in a critical situation and that if measures are not taken by the management of this enterprise in the near future, then most likely the enterprise is not waiting for fun to take into account, namely bankruptcy.

4. LIST OF LITERATURE

Theory of economic analysis.

Edited by Bakanov M.I., Sheremet.A.D.

Method of financial analysis

Finance and statistics MOSCOW 1993

Edited by Sheremet.A.D. Saifulin R.S.

Analysis of the economic activity of the enterprise

MINSK1998 IP "Ekoperspektiva"

Edited by Savitskaya G.V.

Financial and economic condition of the enterprise

MOSCOW 1999

Edited by Bykodorov V.L. Alekseev P.D.

On the analysis of the solvency and liquidity of the enterprise

Accounting 1997#11

Edited by Fazevsky V.N.

The structure of any enterprise includes an administrative and managerial apparatus, a production department, a financial and economic department, and an accounting and reporting department. In addition, the structure may include other divisions whose tasks include ensuring a continuous process of production and manufacture of products that would be competitive and meet market requirements in terms of quantity, quality and delivery time. At the same time, the main requirement and criterion for the efficiency of the enterprise is the minimization of production costs, i.e. reduction in the cost of goods and services produced.

Factors that determine the production and economic activities of the enterprise

Of great importance for the activities of the enterprise is such a factor as financial and economic planning. This is not only the uninterrupted provision of the necessary resources, but also constant control over the current activities of the enterprise, prompt adjustment of management decisions in order to achieve planned results.

Control is carried out by analyzing the production and economic activities of the enterprise by comparing the main results of this activity with the calculated and planned indicators. Such indicators characterizing the efficiency of the enterprise, for example, include:
- profit from the sale of goods and services rendered;
- total production costs;
- profitability;
- the level of remuneration of people working at the enterprise;
- the value of the amount of money on the settlement accounts of the enterprise;
- existing accounts payable and receivable.

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Economic theory

Organization of economic activity

1. Cooperation and division of labor

Owners of property can effectively use it if they organize all economic activities in their own interests. To do this, it is necessary to clearly establish: what to produce, how to do it, and for whom to create economic benefits. In this case, the main links of organizational and economic relations between people are:

1) cooperation and division of labor, 2) organization of economic activity in certain forms, and 3) forms of economic management.

Cooperation and division of labor represent two directly opposite organizational relations. If cooperation means bringing workers together for joint activities, then division means their separation into different types of work. In this regard, it is important to find out:

what are these opposites in the organization of production;

what economic benefit they give;

How are opposite types of economic organization interconnected?

The word "cooperation" has several meanings. Here it denotes a certain form of organizing the association of people in one or in different, interconnected labor processes.

Labor cooperation is a form of organizing the joint labor of a significant number of people.

First of all, it is important to see the fundamental difference between labor cooperation and property relations. As you know, the types of appropriation have repeatedly changed throughout economic history. Cooperation, labor is used regardless of the social order prevailing at one time or another. Meanwhile, in different historical epochs, labor interaction is distinguished by unique features. It is one thing, for example, the collective cultivation of land in a primitive community, another is the forced labor of a mass of slaves in the construction of the famous pyramids in ancient Egypt.

The need to work together in any society is due to the following reasons:

· for centuries, the association of people to perform certain economic activities is a proven means for increasing labor productivity (increasing the output of workers);

In joint work, individual competitiveness of workers arises - their desire to complete the task better and in a shorter time;

· cooperation of labor increases the productivity of collective labor, which is able to quickly perform work that is beyond the strength of one person;

· cooperation saves working time due to the coordinated performance of collective work and the observance by workers of a single production discipline;

· with the joint activity of many people, relatively (per unit of production) the costs of means of production decrease (premises, equipment, raw materials are better used).

From what has been said about the need for labor cooperation, it would seem that a conclusion suggests itself about its high efficiency. But such a conclusion can be challenged.

The fact is that instead of an unambiguous judgment, we are brought closer to the truth by a multivariate analysis of the economic effect (volume of output) obtained by changing the scale of labor cooperation. Such an effect depends on many conditions: the nature and capacity of the equipment, production technology, the distance of the enterprise from sources of raw materials, energy, consumers of finished products and other technical, organizational and socio-economic relations.

In economic practice, it is important to calculate the economic effect obtained with different changes in the scale of production. In this case, three main versions of the effect can be obtained.

First option. With the expansion of the scale of cooperation (an increase in factors of production), the effect of its enlargement increases.

Here are some examples. In the middle of the XIX century. the largest ship could carry 2,000 tons of cargo, and now supertankers can carry over 1 million tons of oil.

The benefits of modern large-scale production are associated with the use of complex and very expensive machine systems. Thus, in the automotive industry, the effective use of robotics and sophisticated equipment on assembly lines requires, according to some estimates, a production volume of 200,000 to 400,000 vehicles per year. Only large manufacturers can cope with this task.

As enterprises become larger, the costs per unit of output associated with the design, construction and development of products are reduced. Increasing the size of production creates additional opportunities for creating by-products. For example, a large meat processing plant makes glue, drugs, and many other products from the waste of the main workshops that are not processed at small plants.

Second option. There may be such a case when the number of employees increases at a larger enterprise. But at the same time, their productivity does not increase to the same extent. Then the effect of the expansion of labor cooperation remains unchanged.

Third option. An unlimited increase in the scale of labor cooperation can slow down the growth of production efficiency. Such a negative result is possible if the volume of output of products increases to a lesser extent compared to the expansion of the size of the enterprise. For example, the benefits of building a giant machine-building plant may be offset by the increased costs associated with transporting raw materials and finished products over long distances. It is almost impossible to manage such a plant from a single center, which will entail additional losses.

Finally, a question arises. What should be done in practice: to enlarge the scope of labor cooperation or not to enlarge it?

The answer to this question is facilitated by clarifying the relationship of cooperation with the division of labor.

In the economy, the process of division of labor, which is directly opposite to cooperation, takes place - a qualitative division into separate and simultaneously coexisting types of it.

The division of labor is the allocation in the production process of different types of labor activity.

The beginning of this process was laid by the natural division of labor by sex and age, which arose even in primitive society. Until now, this division of activities has been preserved in many households.

In modern production, the following types of division of labor are distinguished.

Individual specialization - the concentration of human activity on some special occupation, the mastery of a certain profession, specialty.

The division of labor in the enterprise (the allocation in the labor collective of different types of work, operations).

Separation of creative activity on the scale of the industry, type of production (for example, electric power industry, oil production, automotive industry, etc.).

The division of production on a national scale into large genera (industry, agriculture, etc.).

Territorial division of labor within the country (with the specialization of the production of certain products in different economic regions).

International division of labor (specialization of the production of individual countries on certain types of products that these countries exchange).

The division of labor always serves as an important means of increasing the productivity of people's creative activity. This is a consequence of the following circumstances:

Specialization of workers multiplies the ability, involves the acquisition of more advanced knowledge and skills;

The division of labor provides savings in working time, because due to the concentration of labor efforts, a person stops moving from one occupation to another;

· labor specialization will give impetus to the invention and application of machine technology, which makes production mass and highly efficient.

As you know, the growth of the scale of labor cooperation in the performance of some homogeneous work increases the volume of output. But this effect is achieved only up to certain limits. Such limits are reached in enterprises with simple labor cooperation, where all workers perform the same type of work (for example, lumberjacks at logging sites). If the size of the enterprise is infinitely expanded, then the costs of transporting raw materials and finished products over long distances will increase, which will exceed the benefits of building a giant enterprise.

The way out of this impasse is provided by complex labor cooperation.

Complex labor cooperation is a type of joint activity of workers of different professions and specialties.

This form of organization of creative activity best combines the advantages of cooperation and division of labor.

Historical experience has convincingly shown the advantages of complex labor cooperation. The original form of capitalist enterprise was the simple co-operation of artisans who did the same work. In Western Europe in the XVI-XVII centuries. a manufactory developed, where workers performed various types of operations or made some part of the final product (for example, some part of a watch - case, dial, hands, etc.). In manufacturing workshops, labor operations were simplified, tools were improved, and skilled workers were trained. All this contributed to a huge increase in the production of products.

In the XX century. the double effect inherent in complex labor cooperation was achieved through a combination of specialization and cooperation of production.

Specialization of production -- a form of production organization based on the division of labor. It manifests itself in the creation of specialized workshops, sections and enterprises as a whole .. At the same time, different types of specialization are distinguished: a) subject (some kind of product is made); b) detailed (only a part of the finished product is created) and c) technological (certain operations are performed to process material resources).

Co-production is a form of production relations between independent specialized enterprises that jointly produce certain products.

Specialization and cooperation in production make it possible to find the optimal (best) size of economic activity, taking into account all its favorable conditions. At the same time, it is important to take into account the degree of specialization of enterprises (limiting their activities to the manufacture of certain products and parts). So, in Russia, the manufacture of the same parts at large machine-building plants that produce all kinds of products requires 5-10 times more labor and money and 1.5-2 times more metal than at enterprises with mass specialized production. .

In the second half of the XX century. under the influence of the scientific and technological revolution, a new stage began in the development of specialization and cooperation in production, not only in individual countries, but also on an international scale. Many of the most complex machines (airplanes, rockets, automobiles) are created piece by piece in different states, and then assembled from component parts at the head enterprises of the country that produces these machines.

In the context of the further development of the scientific and technological revolution and the ever wider use of information technologies, the importance of the labor of specialists with secondary and higher education is increasing.

The training of specialists in foreign educational institutions is carried out in two directions.

The first is the training of specialists with a narrow profile (a set of the main features of activity). Such a specialist deeply masters a relatively small range of knowledge and skills, mainly related to the upcoming practical work. It has been noted that a professional is the more qualified and authoritative worker, the narrower the field of his activity.

However, one cannot fail to see that narrow specialization gives rise to serious shortcomings. Such specialization leads to one-sided development of the professional. His scientific and social horizons are sharply limited. He breaks away from his branch of scientific and economic activity and other related professions. At the same time, the harmony and comprehensiveness of human development are lost. Naturally, in the event of a job loss, a specialist with a narrow profile will not be able to quickly master an adjacent specialty.

The second direction involves the training of specialists of a wide profile. This means a fairly broad scientific and professional education, as well as specialization in a chosen field of activity. Of course, such a professional is able, if necessary, to change his place of work within his specialty.

Such a difference in directions in the training of specialists reflects the contradictory nature of the development of the scientific and technological revolution. On the one hand, it caused a further deepening of the specialization of scientific research and production. On the other hand, modern scientific and technological progress has accelerated the interpenetration of different branches of science and technology, strengthened their relationship. This improves the quality and efficiency of scientists, specialists and other workers. Moreover, the strengthening of the creative nature of labor presupposes the harmony and comprehensiveness of human development.

It is noteworthy that the state educational standards of higher professional education, adopted in our country in 2008, provide for students to study:

1) general humanitarian and socio-economic disciplines (national history, cultural studies, political science, philosophy, economics, etc.);

2) general mathematical and natural science disciplines;

3) general professional disciplines;

4) disciplines of specialization.

Thus, all students receive broad professional training combined with a narrow specialization, which improves the quality of training professionals and their demand for practical activities.

2. Types of economic organization

Consideration of the types of organization of economic activity allows you to directly determine: what economic benefits should be created, how and for whom to produce them?

The simplest form of economic organization is subsistence farming, which itself provides its members with the necessary benefits (food, clothing, housing, etc.).

Subsistence production is a type of economy where people create products to meet their own needs.

Natural production has the following features. First of all, natural production is a closed set of organizational and economic relations. The society in which it dominates consists of disunited and isolated households (families, communities, estates, economic regions). Each of them relies on its own production resources and provides itself with everything necessary for life. All types of work are carried out here, from the extraction of raw materials to the preparation of goods for consumption.

For natural production, for centuries, manual universal (with a variety of purposes) labor has been characteristic, excluding its division into types. Each worker performs all the basic work with the help of the simplest tools (hoes, shovels, rakes, etc.). In the old days, proverbs and sayings were composed about such people: “Jack of all trades”, “He is a Swiss, a reaper, and a player in the pipe”.

Natural economy is characterized by direct economic links between production and consumption, i.e., they develop according to the formula: "production - distribution - consumption". Production is divided among producers and, bypassing the exchange for other products, goes into personal and industrial consumption. This connection provides subsistence farming with considerable stability.

Subsistence economy dominated the economy in the longest pre-industrial era - over 9.5 thousand years. This is due to the following interrelated factors and business conditions.

Subsistence farming is characterized by a stagnant economy. For production increases very slowly.

The economy is dominated by universal labor, which does not consolidate or improve working skills and knowledge.

Workers are armed with the simplest manual equipment, characteristic of the pre-industrial era.

For economic activity in natural production, low labor productivity is typical. It is noteworthy that even now in the economically backward countries of Africa, one agricultural worker can feed no more than two people.

Natural production does not fully satisfy the traditional, unchanging needs of the bulk of the population for centuries.

These are the mutually dependent causes and effects that hinder the progress (upward movement) of the subsistence economy. These causal relationships form a kind of closed chain, which can be called the circle of economic stagnation.

The vicious circle of economic stagnation was only broken by the incompatible commodity economy, which was most developed under capitalism.

Meanwhile, at present, subsistence farming has largely been preserved in countries where the pre-industrial economy predominates. In underdeveloped countries in the middle of the XX century. 50-60% of the population was employed in natural and semi-natural production. At present, the backward structure of the economy is being broken in these states.

In Russia, natural production is especially developed in the personal subsidiary plots of peasants and in the garden plots of urban residents.

One of the paradoxes (unexpected phenomena) of today's Russia is that after the announcement in 1992 of the "movement to the market", in a number of cases, movement began in the opposite direction. So, the number of garden plots with natural production has significantly increased (this is a means to provide oneself with urgently needed life benefits).

Another paradox is that, instead of moving towards the market, many economic regions of the country in the early 1990s. strengthened economic autarky (isolation). They imposed a ban on the export of food to other regions, thus seeking to improve the supply of food to the local population. However, the naturalization of economic ties also has negative consequences - it undermines normal economic ties across the country.

It can be assumed that subsistence production in personal subsidiary plots in Russia will eventually lose its economic significance. This will happen as a result of an increase in the money incomes of the population and a significant rise on this basis in the living standards of the people.

It was possible to partially break the vicious circle of economic stagnation inherent in subsistence farming even during the period of the decomposition of the primitive communal system (7-8 thousand years ago). Since then and up to the present time, commodity production has served various socio-economic systems. In this regard, it is possible to single out the causes of the emergence of commodity production that are common to all historical epochs.

The production of goods appeared primarily as a result of the social division of labor, when labor activity is divided (its various types stand apart and coexist). This general form of organizational and economic relations continues to change with the improvement of tools. Since technological progress has no boundaries, the development of the division of labor in society has no limits either.

Another reason is the economic isolation of people for the manufacture of some product. This organizational relationship organically complements the social division of labor: a person chooses some type of work and turns it into an independent activity. This at the same time increases its dependence on other commodity owners and gives rise to the need to exchange heterogeneous products and establish ties through the market.

The economic isolation of people is closely connected with the forms of ownership of the means of production. Thus, it is most complete when the commodity producer is a private owner. To a lesser extent, isolation is achieved if some property is leased - temporary possession and use. Then, for a certain period, the tenant manages the household. But private property alone does not give rise to a commodity-market economy. This can be seen in the example of natural production under the slave and feudal systems, where private ownership of the means of production dominated.

Meanwhile, forms of ownership give rise to different types of commodity production. Depending on the forms of ownership and organizational relations, two types of commodity production are formed. Historically, the first was a simple commodity economy of peasants and artisans, in which manual labor was used. In this case, due to low output, commodity production is adjacent to the dominant natural production. Under capitalism, the main position in the economy is occupied by a developed commodity economy. All goods created are converted into marketable products. The subject of buying and selling becomes a hired pile.

More developed and complex in comparison with natural production is commodity production, working for the market.

Commodity production is a type of economic organization in which useful products are created for sale on the market.

Commodity economy is an open type of organizational relations. Here, workers create products not for their own needs, but to sell them to other people.

Finally, the commodity economy is characterized by indirect links between production and consumption. They develop according to the formula "production - exchange (market) - consumption". Manufactured products first enter the market for exchange for other products (or money) and only then get to consumers.

In contrast to natural production, the commodity economy is characterized by a steady improvement in the factors and conditions of management. This development goes in the following directions.

Commodity production generates a continuously progressing economy. Thanks to the radical renewal of production factors, it is capable of sharply accelerating output.

This production, as noted, is based on the division of labor, which contributes to the improvement of the knowledge and skills of workers.

The specialization of labor operations in commodity production facilitated the use of machinery. Thus, the way to the industrial stage of production was opened.

The widespread use of industrial machinery and technology has led to an unprecedented increase in labor productivity. Thanks to this circumstance, for example, an American farmer can feed 20 people.

Commodity production ensures the rise of the needs of the entire population.

Here are described the causes and effects that have turned the commodity economy into a progressive economy. The inextricable relationship between these factors and economic conditions forms a kind of chain of cause-and-effect processes that takes the form of a spiral.

After we have compared subsistence and commodity production, we can compare the products of these types of farms.

Every product of both natural and commodity economy has one common property - utility.

Utility is the ability of a good to satisfy some needs of people.

Each material good has, as a rule, not one, but many utilities, or, figuratively speaking, a “bundle of utilities”. For example, designers from different factories create many different necessary things from the same metal. With the development of modern science and production technology, an increasing number of useful qualities are being discovered in natural and chemical substances.

The properties of goods are identified and evaluated differently by their producers and consumers. Manufacturers of products, first of all, give an objective (independent of the will and consciousness of people) assessment of their material properties, which make it possible to obtain the desired utility. So, in iron ore, the amount of iron and other constituents contained in it is determined. If the amount of useful substances in products increases, then this improves their quality, and thereby increases their usefulness. This can be judged by buyers of many food products, on the packages of which the useful elements contained in them are indicated.

Consumers quite often adhere to their subjective assessments of the benefits of material goods, sometimes neglecting their objective qualities. They look at natural products or goods in terms of personal needs, tastes and preferences. Doesn't each of us show our attachment to the choice of some kind of tea, coffee? There are also unique cases. For example, in China, the favorite dish of the small Miao people is deliciously cooked bamboo rats with a side dish of young bamboo.

It is quite obvious that in itself a natural product and a product of the same purpose and quality do not differ in any way, if we consider their usefulness. Do flowers, for example, differ only because in one case you grew them in your garden plot, and in the other case you bought them in the market?

But the situation is completely different if we take into account the economic relations associated with obtaining useful things.

As you know, a natural product is acquired within a closed economy without its exchange for another thing. Let's say this happens when a farmer uses all his harvest of grain and potatoes for his family.

In contrast to this, completely different economic relations arise in the commodity economy. The owner of the commodity and the buyer enter into certain property relations during market exchange. Neither one nor the other give away their property free of charge, for nothing. Both the seller and the buyer are interested in receiving for their thing - under normal conditions - other equivalent property (whether it be another good or money) in exchange for their thing. This property distinguishes the market product decisively from the natural product.

A commodity is a useful thing that is exchanged in the market for an equivalent good.

From this it becomes clear that each commodity, when exchanged for an equivalent product, acquires an exchange value on the market. Exchange value is the ability of a commodity to be exchanged for other useful things in certain proportions (ratios).

For example, in the market it can be recognized as equivalent to each other (figures are conditional); 20 kg of meat, 1 pair of sneakers, 50 liters of milk, etc.

Such equality of the exchange ratios of things is repeated every day and billions of times in the practice of the market. The eye seems normal and understandable. In fact, much here is hidden from the eyes and is not clear: what is in things, what is equal to what and why?

In fact, are the commodities exchanged, and therefore equated to each other, equal as useful things? It is quite obvious that completely heterogeneous things are being exchanged (meat, sneakers, milk - as in the example above). After all, no one sells a useful thing of a certain kind for the same benefit. Equivalent things are not comparable in quantitative terms either; meat is measured in kilograms, sneakers in pairs, milk in liters, etc. What, then, is equal to the exchange proportion? cooperation labor commodity economy

B 19th century Economists have proposed two different ways of measuring the exchange value of goods.

The first way is to measure the value of goods for each person by their utility. The unit of measure of utility was called util (from the English utility -- utility). The more utils the consumer purchased on the market, the greater portion of happiness he allegedly received. Perhaps util can measure the degree of utility of unequal goods for one person. But due to the inconsistent subjective assessment of the usefulness of things by different people, util cannot give a reliable comparison when exchanging one product for another. As a result, the util was recognized as a fictional unit of measurement, not suitable for market practice.

Another way of measuring the exchange value of commodities is by comparing the amount of labor expended on the production of different types of commodities.

A special study of the expenditure of working time in the production of certain types of products makes it possible to obtain comparative data on their value and exchange value in different countries.

More time is spent on the production of Russian goods than on the same goods made in Poland and especially in Germany.

Meanwhile, the principle of comparative advantage of countries (in labor costs for the creation of goods) cannot be used in the practice of ordinary market exchange. Such an exchange is carried out, as a rule, by private owners who cannot compare the costs of working time per unit of output in all farms. Naturally, the participants in everyday market transactions do not at all clarify abstract (distracted from specific circumstances) theoretical questions about measuring the amount of labor for the production of goods.

Consequently, economic theory is faced with tasks that are unsolvable for it. Neither the utility of things nor labor time (expended on a unit of output) can be a practical measure of exchange value in all market transactions.

Obviously, a very important question remains unanswered: how is an equivalent exchange of goods established in the market?

3. Economic management

Acquaintance with the management of the economy, we complete the consideration of organizational and economic relations. This is no coincidence. Management is a derivative economic relation from all links in the system of economic relations.

Management of the economy is a purposeful ordering influence on the process of social labor. It is designed to organize, coordinate and control the economic activities of all employees to achieve the intended results.

How do managerial relations interact with other types of economic relations?

Management and property. If it is known that management is called upon to streamline economic activity, then it is not yet clear in whose interests this is being done. The answer to this question reveals the dependence of production management on ownership. Labor in an enterprise is always organized with a specific goal in mind, to use the means of production as best as possible, providing their owner with an adequate income.

This dependence of management on property has repeatedly changed throughout the history of economic life. Under certain conditions, the owner himself directly manages the enterprise. In other cases, this is done by specially crumpled managers.

Communication of management with cooperation and division of labor. Every kind of labor cooperation needs management. Take, for example, the construction of a large residential building. Undoubtedly, builders will not be able to start and complete construction if no one ensures their purposeful and coordinated work. With simple cooperation of labor on a small scale, one person with a certain life and production experience is able to manage the economy. But with the transition from simple to complex labor cooperation, managerial activity in enterprises began to turn into a special professional work that required special training.

management and the market. In what follows we shall see that the commodity-market economy has the capacity for a certain self-regulation. Like any control system, commodity production and the market are endowed with direct and feedback, which allows them to solve an important organizational problem: what to produce, how to do it, and for whom to create products?

However, for a number of reasons in the XX century. The market has largely lost its regulatory influence on the development of the national economy. These functions were taken over by the state.

Economic management and the state. With the emergence of the public sector of the national economy, the state for the first time began to perform a number of important tasks to regulate the entire economic life of society.

It focused on the fulfillment of national socio-economic tasks that the market is not able to fulfill.

As we can see, the management of production is under the influence of a number of economic conditions. With their change, the management of the economy goes through three qualitatively different stages.

Under the conditions of capitalism, the following successively emerging types of management activities have been developed:

1) sole management of a private enterprise by its owner;

2) management of a business association by managers;

3) management of the national economy with the help of a set of certain state institutions.

Now let's briefly consider what historical features these types of management differed at different stages of history.

First stage. The initial type of sole management of a private enterprise, reached in the XVI11--XIX centuries. greatest development with complex labor cooperation in the form of manufactory (joint labor of artisans who manually performed individual specialized operations) and factory (collective labor of workers using a system of machines). From the very beginning, these forms of economy were managed by the owner himself.

With the enlargement of the scale of factory production, the owners of enterprises began to increase the number of managerial employees. Some of them directly managed the production process (directors of enterprises, heads of workshops, site foremen, etc.), while others were busy preparing for management (accountants, accountants, secretaries, etc.).

Second phase. At the turn of the 19th-20th centuries, when the joint-stock form of ownership became the leading one, the direct management of economic associations passed from the owners of firms to managers.

A manager is a hired manager at an enterprise, a management specialist.

The increasing complexity of modern production required the development of a special branch of knowledge and skills - management.

Management -- a system of theoretical and practical knowledge about the principles, methods, means and forms of production management in order to improve its efficiency and increase profits.

The scientific nature of the manager's activity is manifested in the fact that he gives the development of the company a planned character. In practice, this happens regularly when organizing the production of new products and when creating an enterprise, when a business plan is drawn up. A business plan must be submitted to the bank if the company hopes to receive a cash loan from it. At the same time, it is important to convince the bank of the attractiveness and competitiveness of the company. In turn, with the help of specialists, the banking institution carefully studies the business plan, and if approved, strictly controls its implementation.

Third stage. In the second half of the XX century. the development of managerial activity is associated with a radical change in the regulation of the national economy in all Western countries. During this period, economic and market power passed to the largest firms and the state. A new mechanism for managing the national economy was created: mixed regulation of the national economy, in which the rule of law and a modified market take part.

Bibliography

1. Popov S.A. Basics of economic theory. M., 2009

2. Alpatov A.G. Economic theory. St. Petersburg, 2010

3. Gundarev A.V. Economy. M., 2008

4. Meshcheryakov M.N. Fundamentals of Economics. M., 2008.

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1.1 Main activities of the enterprise

Current (main, operating) activity - the activity of an organization that pursues profit making as the main goal, or does not have profit making as such in accordance with the subject and goals of the activity, i.e., production of industrial, agricultural products, construction work, sale goods, the provision of catering services, the procurement of agricultural products, the leasing of property, etc.

Inflows from current activities:

receipt of proceeds from the sale of products (works, services);

Receipts from the resale of goods received by barter;

Receipts from the repayment of receivables;

advances received from buyers and customers.

Outflows from current activities:

payment for purchased goods, works, services;

Issuance of advances for the purchase of goods, works, services;

payment of accounts payable for goods, works, services;

· salary;

payment of dividends, interest;

· payment according to calculations on taxes and fees.

Investment activity - the activity of an organization related to the acquisition of land plots, buildings, other real estate, equipment, intangible assets and other non-current assets, as well as their sale; with the implementation of own construction, expenses for research, development and technological development; with financial investments.

Inflows from investment activities:

receipt of proceeds from the sale of non-current assets;

receipt of proceeds from the sale of securities and other financial investments;

income from the repayment of loans granted to other organizations;

receiving dividends and interest.

Outflows from investment activities:

payment for acquired non-current assets;

payment of acquired financial investments;

· issuance of advances for the acquisition of non-current assets and financial investments;

granting loans to other organizations;

· Contributions to authorized (share) capitals of other organizations.

Financial activities - the activities of the organization, as a result of which the value and composition of the organization's own capital, borrowed funds change.

Cash inflows from financing activities:

Receipt from the issue of equity securities;

income from loans and credits provided by other organizations.

Outflows from financial activities:

repayment of loans and credits;

Repayment of financial lease obligations.

1.2 The essence and objectives of operating activities

Enterprises operate in the market in a highly competitive environment. Those who lose in this struggle become bankrupt. In order not to go bankrupt, business entities must constantly monitor changes in the market environment, develop methods to counteract negative aspects in order to maintain their competitiveness.

In the process of managing the profit of the enterprise, the main role is given to the formation of profit from operating activities. Operational activity is the main activity of the enterprise, for the purpose of which it was created.

The nature of the operating activity of the enterprise is determined primarily by the specifics of the sector of the economy to which it belongs. The basis of the operating activities of most enterprises is production, commercial or trading activities, which are complemented by their investment and financial activities. At the same time, investment activity is the main one for investment companies, investment funds and other investment institutions, and financial activity is the main one for banks and other financial institutions. But the nature of the activities of such financial and investment institutions, due to its specificity, requires special consideration.

The current activity of the enterprise is aimed primarily at extracting profit from the assets at its disposal. When analyzing this process, the following quantities are usually taken into account:

added value. This indicator is calculated by subtracting from the company's revenue for the reporting period the cost of consumed material assets and services of third-party organizations. For further use of this indicator, it is necessary to deduct value added tax from it;

· Gross result of exploitation of investments (BREI). It is calculated by subtracting from the value added the cost of wages and all taxes and mandatory contributions, except for income tax. BREI represents earnings before income tax, interest on borrowings and depreciation. BREI shows whether the enterprise has enough funds to cover these costs;

Earnings before income tax and interest, EBIT (Earnings before Interest and Taxes). Calculated by subtracting depreciation charges from BREI;

· economic profitability, or income generation ratio (ERR), already mentioned earlier in the section on analysis using financial ratios. Calculated as EBIT divided by the total assets of the enterprise;

commercial margin. It is calculated by dividing EBIT by revenue for the reporting period and shows how much profit before taxes and interest each ruble of the company's turnover gives. In financial analysis, this ratio is considered as one of the factors affecting economic profitability (ER). Indeed, BEP can be thought of as the product of commercial margin times asset turnover.

Achieving a high rate of economic profitability is always associated with the management of its two components: commercial margin and asset turnover. As a rule, an increase in asset turnover is associated with a decrease in commercial margin and vice versa.

Both the commercial margin and asset turnover directly depend on the company's revenue, cost structure, pricing policy and the overall strategy of the company. The simplest analysis shows that the higher the price of products, the higher the commercial margin, but this usually reduces the turnover of assets, which greatly restrains the increase in economic profitability.

Economic profitability is a very useful indicator of the company's performance, but for owners, often more important than such an indicator as return on equity (ROE). To maximize it, it is necessary to choose the optimal capital structure of the company (the ratio of borrowed and own funds). In this case, the analysis of financial risk is carried out by calculating the effect of financial leverage.

The amount of cash flows generated from operating activities is a key indicator of the extent to which a company's operations generate sufficient cash flows to repay loans, maintain operating capacity, pay dividends, and make new investments without recourse to external sources of funding. Information about the specific components of initial operating cash flows, combined with other information, is very useful in predicting future operating cash flows.

Cash flows from operating activities primarily arise from the main, income-generating activities of the company. As such, they generally result from transactions and other events that are part of the determination of net profit or loss. Examples of operating cash flows are:

cash receipts from the sale of goods and the provision of services;

cash receipts from rent, fees, commissions and other income;

cash payments to suppliers for goods and services;

cash payments to employees and on their behalf;

cash receipts and payments of the insurance company as insurance premiums and claims, annual premiums and other insurance benefits;

cash payments or income tax compensation, unless they can be linked to financial or investment activities;

cash receipts and payments under contracts concluded for commercial or trading purposes. Some transactions, such as the sale of a piece of equipment, may result in a gain or loss that is included in the determination of net profit or loss. However, the cash flows associated with such transactions are cash flows from investing activities.

A company may hold securities and loans for commercial or trading purposes, in which case they may be treated as stock purchased specifically for resale. Therefore, cash flows arising from the purchase or sale of commercial or trading securities are classified as operating activities. Similarly, cash advances and loans provided by financial companies are usually classified as operating activities because they are part of the financial company's core income-generating activities.

One of the tools for market research and maintaining competitiveness is the analysis of the financial and economic activities of the enterprise, including the analysis of its financial condition. The order and tools of analysis, which is carried out in order to make financial decisions, is determined by the very logic of the functioning of the financial mechanism of the enterprise.

One of the simplest but most effective types of financial analysis is operational analysis, called CVP (cost-volum-profit, costs - volume - profit).

The purpose of the analysis of operating activities is to track the dependence of the financial results of the business on costs and sales volumes.

The main task of CVP analysis is to get answers to important questions that entrepreneurs have at all stages of money circulation, for example:

How much capital does a business need to have?

How to mobilize these funds?

To what extent can financial risk be reduced using the effect of financial leverage?

Which is cheaper: buying or renting real estate?

To what extent can the strength of operating leverage be increased by maneuvering variable and fixed costs, thereby changing the level of entrepreneurial risk associated with the activities of the enterprise?

Is it worth it to sell products at prices below cost?

Should we produce more of this or that product?

How will a change in sales volume affect profits?

Cost allocation and gross margin

CVP - analysis serves to find the optimal, most beneficial costs for the enterprise. It requires the allocation of costs to variable and fixed, direct and indirect, relevant and irrelevant.

Variable costs generally change in direct proportion to the volume of production. These can be the costs of raw materials and materials for the main production, the wages of the main production workers, the cost of selling products, etc. It is beneficial for the enterprise to have fewer variable costs per unit of output, since this way it ensures itself, respectively, more profit. With a change in the volume of production, total variable costs decrease (increase), at the same time, they remain unchanged per unit of output.

Fixed costs must be considered in the short term, the so-called relevant range. In this case, they generally do not change. Fixed costs include rent, depreciation, salaries of managers, etc. Changes in the volume of production have no effect on the size of these costs. However, in terms of a unit of output, these costs change inversely.

Direct costs are the costs of an enterprise that are directly related to the production process or the sale of goods (services). These costs can be easily attributed to a specific type of product. For example, raw materials, materials, wages of key workers, depreciation of specific machines, and others.

Indirect costs are not directly related to the production process and cannot be easily attributed to a specific product. Such costs include the salaries of managers, sales agents, heat, electricity for auxiliary production.

Relevant costs are costs that depend on management decisions.

Irrelevant costs do not depend on management decisions. For example, the manager of an enterprise has a choice: to produce the necessary part for the mechanism or to buy it. The fixed cost of producing the part is $35, and you can buy it for $45. So, in this case, the supplier price is the relevant cost, and the fixed cost of production is the irrelevant cost.

The problem associated with the analysis of fixed costs in production is that it is necessary to distribute their total value over the entire product range. There are several ways to distribute this. For example, the sum of fixed costs relative to the time fund gives the cost rate for 1 hour. If the production of goods takes 1/2 hour, and the rate is 6 c.u. per hour, then the value of fixed costs for the production of this product is 3 c.u.

Mixed costs include elements of fixed and variable costs. For example, the cost of paying for electricity, which is used both for technological purposes and for lighting premises. In the analysis, it is necessary to separate mixed costs into fixed and variable.

The sums of fixed and variable costs represent the total costs for the entire volume of production.

Ideal conditions for business - a combination of low fixed costs with high gross margins. Operational analysis allows you to establish the most beneficial combination of variable and fixed costs, prices and sales volume.

The asset management process aimed at increasing profits is characterized in financial management as leverage. This is such a process, even an insignificant change in which leads to significant changes in performance indicators.

There are three types of leverage, which are determined by recomposing and disaggregating income statement items.

Production (operating) leverage is a potential opportunity to influence gross profit by changing the cost structure and output volume. The effect of operating leverage (leverage) is manifested in the fact that any change in revenue from the sale of products always generates a significant change in profit. This effect is due to varying degrees of influence of the dynamics of fixed and variable costs on the formation of financial results when the volume of production changes. The higher the level of fixed costs, the greater the power of operating leverage. The strength of the influence of the operating lever informs about the level of entrepreneurial risk.

Financial leverage is a tool that affects the profit of an enterprise by changing the structure and volume of long-term liabilities. The effect of financial leverage is that an enterprise using borrowed funds changes the net profitability of its own funds and its dividend opportunities. The level of financial leverage indicates the financial risk associated with the enterprise.

Since interest on a loan is a fixed cost, an increase in the share of borrowed funds in the structure of the financial resources of an enterprise is accompanied by an increase in the strength of the operating leverage and an increase in entrepreneurial risk. The category summarizing the previous two is called production and financial leverage, which is characterized by the relationship of three indicators: revenue, production and financial costs, and net profit.

The risks associated with the enterprise have two main sources:

The very influence of the operating lever, the strength of which depends on the proportion of fixed costs in their total amount and determines the degree of flexibility of the enterprise, generates entrepreneurial risk. This is the risk associated with a specific business in a niche market.

Volatility of the financial conditions of lending, the uncertainty of the owners of shares in the return of investments in the event of the liquidation of an enterprise with a high level of borrowed funds, in fact, the very action of financial leverage generates financial risk.

Operational analysis is often referred to as break-even analysis. Break-even analysis of production is a powerful tool for making managerial decisions. By analyzing break-even production data, the manager can answer questions that arise when changing course of action, namely: what impact on profit will a decrease in the selling price have, how much sales are needed to cover additional fixed costs due to the planned expansion of the enterprise, how many people need to be hired etc. The manager in his work constantly needs to make decisions about the selling price, variable and fixed costs, the acquisition and use of resources. If he cannot make a reliable forecast of the level of profits and costs, his decisions can only bring harm to the company.

Thus, the purpose of the break-even analysis of activities is to establish what will happen to financial results if a certain level of productivity or production volume changes.

Break-even analysis is based on the relationship between changes in production volume and changes in total profit from sales, costs and net income.

The break-even point is understood as such a point of sales at which costs are equal to the proceeds from the sale of all products, that is, there is neither profit nor loss.

To calculate the break-even point, 3 methods can be used:

Equations

Marginal income;

graphic image.

Despite the difficult economic conditions that enterprises are in today (lack of working capital, tax pressure, uncertainty about the future and other factors), nevertheless, each enterprise must have a strategic financial plan, a budget for a certain period: a month, a quarter, a year or more for which the company should implement a budgeting system.

Budgeting is the process of planning the future activities of an enterprise and formalizing its results in the form of a system of budgets.

The objectives of budgeting are as follows:

· maintenance of current planning;

Ensuring coordination, cooperation and communication between departments of the enterprise;

to force managers to justify quantitatively their plans;

· substantiation of expenses of the enterprise;

· formation of base for an estimation and control of plans of the enterprise;

Compliance with the requirements of laws and contracts.

The budgeting system at the enterprise is based on the concept of centers and accountability.

Responsibility center is an area of ​​activity within which a manager is personally responsible for the performance indicators that he is obliged to control.

Responsibility accounting - an accounting system that provides control and evaluation of the activities of each responsibility center. The creation and functioning of the accounting system by responsibility centers provides for:

definition of responsibility centers;

· budgeting for each responsibility center;

regular reporting on performance;

· Analysis of the causes of deviations and evaluation of the activities of the center.

In an enterprise, as a rule, there are three types of responsibility centers: the cost center, the head of which is responsible for costs, affects them, but does not affect the income of the unit, the volume of capital investments and is not responsible for them; profit center, the head of which is responsible not only for costs, but also for income, financial results; investment center, the head of which controls costs, revenues, financial results, and investments.

Maintaining budgeting will allow the company to save financial resources, reduce non-production costs, achieve flexibility in managing and controlling product costs.

1.3 Management of the cash flows of the organization in the activities of the organization

The cash flows generated by the current activities of the organization often go into the sphere of investment activities, where they can be used to develop production. However, they can also be directed to the sphere of financial activity for the payment of dividends to shareholders. Current activities are quite often supported by financial and investment activities, which provides an additional inflow of capital and the organization's survival in a crisis situation. In this case, the organization ceases to finance capital investments and suspends the payment of dividends to shareholders.

The cash flow from current activities is characterized by the following features:

current activity is the main component of all economic activity of the organization, therefore, the cash flow generated by it should occupy the largest share in the total cash flow of the organization;

forms and methods of current activities depend on industry characteristics, therefore, in different organizations, cash flow cycles of current activities can vary significantly;

· Operations that determine the current activity are distinguished, as a rule, by regularity, which makes the monetary cycle quite clear;

· Current activity is focused mainly on the commodity market, so its cash flow is related to the state of the commodity market and its individual segments. For example, a shortage of inventories in the market can increase the outflow of money, and overstocking of finished products can reduce their inflow;

current activities, and hence its cash flow, are inherent in operational risks that can disrupt the cash cycle.

Fixed assets are not included in the cash flow cycle of current activities, since they are part of investing activities, but it is impossible to exclude them from the cash flow cycle. This is explained by the fact that current activities, as a rule, cannot exist without fixed assets, and in addition, part of the costs of investment activities is reimbursed through current activities through depreciation of fixed assets.

Thus, the current and investment activities of the organization are closely related. The cash flow cycle from investing activities is the period of time during which cash invested in non-current assets will return to the organization in the form of accumulated depreciation, interest or proceeds from the sale of these assets.

The cash flow from investing activities is characterized by the following features:

· the investment activity of the organization is subordinate in relation to the current activities, so the inflow and outflow of funds from investment activities should be determined by the pace of development of current activities;

Forms and methods of investment activity are much less dependent on the industry characteristics of the organization than current activities, therefore, in different organizations, the cycles of cash flows of investment activities are, as a rule, almost identical;

· the inflow of funds from investment activities in time is usually significantly distant from the outflow, i.e. the cycle is characterized by a long time lag;

investment activity has various forms (acquisition, construction, long-term financial investments, etc.) and different directions of cash flow in certain periods of time (as a rule, initially outflow prevails, significantly exceeding inflow, and then vice versa), which makes it difficult to represent its cash flow cycle flow in a fairly clear pattern;

· investment activity is associated with both commodity and financial markets, the fluctuations of which often do not coincide and can affect the investment cash flow in different ways. For example, an increase in demand in the commodity market may give the organization an additional cash inflow from the sale of fixed assets, but this, as a rule, will lead to a decrease in financial resources in the financial market, which is accompanied by an increase in their value (percentage), which, in turn, may lead to an increase in the cash outflow of the organization;

· the cash flow of investment activities is affected by specific types of risks inherent in investment activities, united by the concept of investment risks, which are more likely to occur than operational risks.

The cash flow cycle of financial activity is the period of time during which money invested in profitable objects will be returned to the organization with interest.

The cash flow from financing activities is characterized by the following features:

financial activity is subordinate in relation to current and investment activities, therefore, the cash flow of financial activities should not be formed to the detriment of the current and investment activities of the organization;

the volume of cash flow of financial activities should depend on the availability of temporarily free cash, so the cash flow of financial activities may not exist for every organization and not constantly;

financial activity is directly related to the financial market and depends on its state. A developed and stable financial market can stimulate the financial activity of the organization, therefore, provide an increase in the cash flow of this activity, and vice versa;

· financial activities are characterized by specific types of risks, defined as financial risks, which are characterized by a special danger, therefore, they can significantly affect the cash flow.

The cash flows of the organization are closely related to all three types of its activities. Money constantly "flows" from one activity to another. The cash flow of current activities, as a rule, should fuel investment and financing activities. If there is a reverse direction of cash flows, then this indicates an unfavorable financial situation of the organization.