Presentation on the topic "revolving funds". Working capital of the organization Presentation in absentia the main working capital of the organization
Slide 2
Concepts about enterprise funds, their classification and structure.
The organization and functioning of any production requires certain resources, which can be divided according to their physical and economic content into the following groups: fixed assets, working capital, human resources, financial resources and management. Fixed assets are instruments of labor and means of production that are repeatedly used in the production process, wear out and transfer their value to the cost of finished products using the economic mechanism - depreciation. Working capital are objects of labor used in production only once, which are physically are transformed into elements of the finished product and transfer their entire cost to it in one production cycle. Labor resources are personnel engaged in the production of products in all departments of the enterprise. Financial resources are cash, necessary for organizing and conducting production both at its initial and subsequent stages. Management is the activity of organizing, coordinating, ensuring production of products, developing and expanding an enterprise, etc.
Slide 3
Classification of fixed assets of an enterprise
Fixed assets of an enterprise are divided into production (directly or indirectly participating in production or providing it) and non-production (not participating in the production process, but providing housing, communal or social needs of the enterprise). Next we will talk about production assets, which for the sake of brevity we will simply call basic assets. According to the “Regulations on the procedure for determining depreciation and assigning depreciation charges to production (circulation) costs” No. 1075 dated 6/1X 1996. fixed assets of an enterprise include material assets intended for use in production activities for a period that exceeds 365 calendar days from the date of commissioning, the value of which is constantly decreasing due to wear and tear. According to the same document, all fixed assets are classified according to the degree of their participation in the production process and are divided into five groups: 1st group - buildings, structures, their structural components and transmission devices; 2nd group – road transport and components for it, furniture, office and office equipment, household and other electromechanical appliances, tools, 3rd group - other fixed assets, including working and power machines, agricultural machinery, tools, working and productive livestock, perennial plantings; 4th group - electronic computers, machines for automatic information processing, their software, associated devices for reading, printing information, telephones, microphones, etc. Group 5 – intangible assets, i.e. objects of intellectual, including industrial property. This also includes other similar rights recognized in the relevant law as an object of property rights (for example, trademarks, know-how, goodwill, etc.).
Slide 4
Fixed assets classified in the first group do not directly participate in the production process, but only create the necessary conditions for it. These are called passive fixed assets. Fixed assets of the second, third and fourth groups are directly or indirectly involved in the process of manufacturing products and their maintenance and are therefore called active. These are more mobile, rapidly wearing objects that quickly become obsolete and require replacement. The third group of fixed assets includes machinery and equipment that make up the material base of any enterprise. Specifically, they include: the machine park of the enterprise and its divisions; technological complexes, namely: production lines, flexible modules, robotic complexes; functionally independent machines, units, installations. The relationship between groups of fixed assets at an enterprise determines their structure, which, in turn, depends on many factors, the most important of which are: type of production, level of automation and mechanization, features of manufactured products and production technology, etc. The preferred structure is where active funds, since it is on them that products are created and one or another level of production efficiency is ensured. However, this characteristic alone is not enough to judge the quality of fixed assets and their structure, because when calculating the value of assets, their value is influenced by prices. And prices can be raised or lowered, which can radically change the situation. Therefore, a qualitative additional analysis of the state, structure of funds, etc. is necessary.
Slide 5
Methods for valuing fixed assets.
To manage fixed assets, they are accounted for using two forms of accounting - in kind and in cash. Accounting in kind is carried out using the so-called inventory, carried out annually by a special commission, as a result of which data on the nomenclature and list of fixed assets by type is updated, taking into account their quality condition and service life. Inventory data is the basis for writing off funds. However, this form of accounting is not enough, since it does not give an idea of the amount of funds in in monetary terms. For this purpose, cost or monetary valuation is used. From the point of view of the accounting system, in relation to the enterprise as a whole and its components (in particular, to the active part of fixed assets - machinery and equipment), the following types of cost of fixed assets are distinguished: initial, reproduction cost, residual or book value.
Slide 6
Initial cost (F primary) – the cost of an object at the time of its commissioning at a given enterprise. This value retains its value until the moment of reconstruction or modernization or until the moment of officially appointed revaluation and is determined by the formula F first. = C purchase x (1 + K tr.-mont. + K there.). Here C purchased. – the price of the object at the time of its acquisition; To tr.-mont. , K there. – coefficients of transport, installation and customs costs at the time of acquisition of the object, respectively. Reproduction cost (Frep.) – the cost of reproducing previously created funds in modern conditions or the cost of an exact copy of an object or property acquired or recreated at the present time at current prices and tariffs. This value is calculated using the formula Ф reproduced. = C ots. x (1 + K tr.-mont. + K there.). Here Ts ots. – the price of the object at the time of its evaluation; To tr.-mont, To there. – coefficients of transport, installation and customs costs at the time of object assessment, respectively. Residual value (F rest.) is the value determined by the difference between the original cost and the amount of depreciation accumulated over the period of operation, taking into account all improvements that increase the value of the object. The residual value may be of a market nature if it is assessed at secondary market prices. Book value (B a) is the value of the fixed assets item at the time of valuation, i.e. at the moment, taking into account wear and tear and improvements that were undertaken during the operation of the facility (in accordance with the current “Regulations”).
Slide 7
The book value is calculated quarterly using the formula B a = (B (a-1) + P (a-1) - B (a-1) - A (a-1)) x I (a-1). Here B a. – book value of fixed assets at the beginning of the reporting quarter; a n – rate of depreciation per quarter (%); B (a-1) – book value of fixed assets at the beginning of the previous quarter; P (a-1) – costs for the acquisition and commissioning of fixed assets for major repairs, modernization during the previous quarter, with the exception of costs attributed to production costs (no more than 5% of the book value of the equipment); B (a-1) – the cost of decommissioned fixed assets during the previous quarter; A (a-1) – the amount of depreciation charges accrued in the previous quarter; I (a-1) – inflation index in the previous quarter (indexation is not carried out if inflation is less than 5% per annum). In accordance with the above, we can assume that the book value and residual value at any given moment coincide, therefore, instead of the concept of “residual”, the concept of “book value” is often used.
Slide 8
Types of wear and tear on fixed assets and ways to eliminate them
In the process of existence and operation, fixed assets wear out. There are three types of wear and tear - physical, functional and economic. In turn, functional wear and tear is divided into moral and technological. Physical wear and tear is the loss of the physical capabilities of a machine as a result of operation. Over time, individual elements of the machine become dull, wear out, break down, accuracy, reliability, etc. are lost. All this is a consequence of the operation of the object, and the more intensively the machine operates, the faster it physically wears out. According to K. Marx’s definition, the physical wear and tear of machines is comparable to “the erasure of a coin from use.” There are permanent and emergency physical wear, removable and irreparable, obvious and implicit. Either way the consequences physical wear and tear can be partially eliminated by repairing equipment, modernizing it, restoring it, etc., replacing or restoring worn-out elements. Loss of value from physical wear and tear is determined by several methods, namely: by effective age, by decline indices consumer properties, to reduce net income (profit) during operation, etc.
Slide 9
Functional wear is a decrease in the operational and other characteristics of a previously existing machine compared to its new interchangeable samples and models. Functional wear manifests itself in the form of reduced power, increased operating costs, reduced productivity, etc. in an outdated machine compared to new models. In this case, we are talking about non-working samples, so the fact of operation in this case does not matter. The cause of functional wear and tear is fundamentally scientific and technological progress, which makes it possible to create more advanced machines and units. Functional wear and tear is divided into 2 types: moral and technological. Obsolescence is a decrease in the cost of an existing machine compared to its new model (analogue) due to scientific and technological progress (STP). As a result of scientific and technical progress, machines and equipment appear that are similar to those under consideration, but with improved technical, economic, ergonomic and other characteristics. In this case, the fact of operating the machine does not matter. According to the figurative expression of K. Marx, machines wear out morally, just as “a sword grows old in its scabbard without use.” Obsolescence is manifested not only in the deterioration of operational parameters, but also in the outdated design, structure of the product, non-compliance with safety standards, environmental requirements, etc. The loss of value from obsolescence is determined mainly by comparison with a new, more advanced object of a similar purpose. Obsolescence can be partially reduced by reconstructing or modernizing the facility. The feasibility of carrying out repair and reconstruction work is decided in each individual case individually as a regular optimization problem, where the criteria are the parameters economic efficiency, calculated using current modern methods.
Slide 10
Technological wear and tear is caused by the emergence of fundamentally new, more advanced technologies and principles of operation of machines and equipment. As a result, with similar operational indicators (power, speed, productivity, etc.), operating costs, and therefore the cost of the resulting products for new machines are significantly lower than for old, obsolete ones. The important thing is that new machines use completely new principles or technologies. An example is the transition to electronic calculating machines to replace previously existing manual, mechanical ones, the emergence of computers, etc. The difference between obsolescence and technological obsolescence is that obsolescence is permanent and has a relatively low speed, determined by the general pace of scientific and technological progress in industry. Technological wear and tear is explosive, manifests itself very sharply and is determined by the emergence of fundamentally new technologies, which determines the nature of changes in general in the industry and in this category of machines. It is difficult to predict the next technological breakthrough; these are probabilistic processes that often go unnoticed, hidden, and only when they become widespread can their significance and consequences be assessed. Economic wear and tear is the loss of value of an object as a result of its failure to meet market requirements. Simply put, an economically worn-out car (outdated, etc.) is sold at a low price or is not sold at all in a given market at the moment. Based on this, we can conclude that economic wear and tear is to some extent a local and temporary phenomenon - i.e. It may be that in another market, at another time, such a car can be sold for a higher price. This means that the value economic wear and tear there will be less. All of the above types of wear lead to limited service life of machines and equipment. In accordance with this, as well as with the legal aspects of operation, at least four types of service life of objects are distinguished.
Slide 11
Physical service life T sl. physical – time until the equipment is completely worn out. This is usually the maximum of all service life values. Economic or standard service life T sl. econ. - this is the period of time during which it is more economically feasible to operate the machine, taking into account the costs of repairs, modernization and other restoration measures, than to replace it with a new one. Warranty service life T g. - this is a passport value that determines the period of time during which the manufacturer either guarantees trouble-free operation of the equipment, or in the event of a failure or breakdown, restores or replaces the machine with a new one at its own expense. Of all the listed values, the last guaranteed service life is T gar. is minimal. Remaining service life T rest. – this is the period of residual operation of the machine from the moment of assessment (the current moment) until the end of the expected economically feasible operation. In a market economy, one of the fundamental concepts is the marketing concept, according to which each product or product must meet market requirements, which ensures high demand for them and corresponding production efficiency. According to this concept, each product, machine, piece of equipment, technology has its own history, which, when applied to such objects, is called the life or general cycle of the product (LPC). The life cycle is the entire period of existence of a product as a standard size, type, which begins from the moment the idea of creating this type of machine appears and ends with its departure not only from the production sphere, but also from the market. It is clear that this is a very long period of time, the different periods of which have their own distinctive features and functions both from the point of view of product formation and from a purely technological side. Schematically, this process is depicted by a curve plotted in the coordinates “volume of production (profit or sales) - time” throughout the entire period that the product is on the market. This curve has the shape of a Napoleonic hat, i.e. first - a rise, growth with varying degrees of intensity, then - some stabilization and after - a decrease in volumes and decline.
Slide 13
The life cycles of individual products are specific and depend on their technical, technological features, conditions and duration of operation, quality, strength of competition in the market and many other reasons. However, there is something in common that is typical for the life cycle of most products at present: Regardless of success, each product inevitably comes to the final stage of the life cycle. The only question is how long it has been on the market, how long the most fruitful stage - the maturity stage - lasts, and how quickly the funds spent on its development and introduction to the market were returned. For almost all products, the duration of life cycles is reduced due to the acceleration of scientific and technical progress, strengthening ties between manufacturers, users, the presence of powerful competition, etc. Increased costs for development, implementation, ensuring high quality of products, which is due to both external factors (inflation, growing competition, increasing life) and internal factors. The latter include the need to conduct increasingly advanced and expensive scientific research, development and development, etc. Thus, the duration of the life cycle is also an important time characteristic of the product, which depends on the degree of maturity of the machine, both at the stage of its design and during the manufacturing process . In other words, the higher the quality of a machine, the longer and more efficiently it can function and the longer its life cycle. It should be noted that at present, changes in technology and technology are occurring so quickly that the life cycles of products are correspondingly reduced. Moreover, this happens precisely because of the rapid increase in the pace of life in general, the pace of scientific and technological progress in relation to technology, as well as because of the globalization of production and life processes.
Slide 14
Depreciation of fixed assets - essence and calculations
During operation, equipment wears out, loses partially or completely its originally inherent technical and other properties, which naturally affects the value of their value and reduces it. They say that equipment is depreciated. Depreciation is the most important economic category, inherent only to fixed assets, the meaning of which is to transfer the value of fixed assets to the cost of finished products through constant depreciation charges. From a financial point of view, depreciation of fixed assets and intangible assets used for production is a gradual reimbursement of the owner’s costs for the acquisition and commissioning of fixed assets and intangible assets within the limits of the depreciation rate. The following are subject to depreciation: costs associated with the acquisition and commissioning of fixed assets and intangible assets; independently manufactured fixed assets; costs associated with all types of repairs, reconstruction and modernization of equipment and machinery. Depreciation is accrued quarterly, starting from the quarter following the quarter in which they are credited to the taxpayer’s balance sheet. There are several methods for calculating depreciation, of which the simplest and most commonly used is the straight-line method.
Slide 15
With the uniform method of calculating depreciation, the initial cost of fixed assets is taken as the base, and the rate of depreciation does not change within one category of fixed assets. In this case, use formula A year. = F first x (a n / 100). According to the current standards for new funds put into operation after January 1, 2003, the following maximum permissible depreciation rates for groups of funds have been established: 1 group of fixed assets - 8% per annum; 2nd group of fixed assets – 40% per annum; 3 group of fixed assets – 24% per annum; 4th group of fixed assets – 60% per annum. The same standards can be used to calculate equipment wear. The enterprise has the right to independently choose the method and rate of calculation of depreciation charges. The only requirement is that the selected and approved depreciation rates do not exceed the permissible values. It should be noted that these standards are significantly increased in relation to previously existing ones, so their use leads to an acceleration of the processes of writing off funds and their complete depreciation.
Slide 16
The accelerated depreciation process has both positive and negative sides. On the one hand, the process of accelerated depreciation leads to a decrease in the book value of property, and this, in turn, reduces the base for calculating property tax. In addition, funds for equipment renovation are generated faster, which is actually the purpose of accelerated depreciation. On the other hand, the inclusion of increased depreciation charges in costs leads to an increase in production costs, and, possibly, prices, which can reduce the competitiveness of products. Therefore, enterprises now independently determine these parameters within the framework existing restrictions, based on the economic situation at the enterprise. The uniform form of calculating depreciation charges is convenient in its simplicity, but has a significant drawback that limits the scope of its application. The fact is that the initial cost of the equipment is taken as the calculation base, which remains unchanged throughout the entire depreciation period. In other words, the costs of repairs, modernization, etc. during the operation of facilities are not taken into account. This is possible and advisable for machinery and equipment with short service lives, high wear rates and minimal costs for improving assets during their depreciation period. These may include funds of the 2nd and 4th groups according to the accepted classification.
Slide 17
In addition to the uniform method, there is a method for calculating and calculating depreciation charges based on the book value B t. The calculation formula in this case has the form A year. = B t x (a n / 100). With this method of calculating depreciation, the accrual base changes all the time, because the book value does not remain unchanged, as can be seen from its calculation formula 6.3. In this regard, accountants are faced with the problem of insignificant balances of the cost of obsolete equipment, the value of which must constantly be calculated for depreciation. At the same time, the law states that equipment must be depreciated until its value becomes zero. There is some problem in this, which should be eliminated by legislation. With any form of depreciation, these funds themselves are created due to the depreciation component in the cost of production, which can be calculated in aggregate using the depreciation formula. = A year. / N year. There's shock here. – the value of the depreciation component in the cost of a unit of production; A year. – annual depreciation charges for the enterprise; N year. – annual production volume. This simplified formula, because Almost any enterprise produces not one, but several types of products, but the principled approach is correct. A special form of ownership are the so-called intangible assets, i.e. objects of industrial and intellectual property, as well as other similar rights recognized as the object of property rights of a particular entrepreneur, which decreases in the process industrial use(for example, trademarks, know-how, etc.). Depreciation on intangible assets is charged in equal shares, based on their original cost, taking into account indexation throughout the entire period of use, but not more than 10 years (the so-called lump sum payment).
Slide 18
Indicators and ways to improve the use of fixed assets
The level of use of fixed assets significantly affects the overall efficiency of production, so it is important to correctly assess this value. There are general and specific indicators of the use of funds. Among the many general indicators, the most important are the capital productivity of fixed assets, the capital intensity of products and the capital-labor ratio. Return on fixed assets Phtd. shows the average output Vgod. in monetary terms per unit of average annual fixed assets Fyear. and is calculated using the formula F dept. = Per year. / F year. To calculate the average annual value of fixed assets, you can use the formulas F year. = 0.5 (F in. + F out); F year. = F in. + F in.x n in./ 12 - F out.x n out. / 12. In these formulas, F centuries, F vyv. – input and output of fixed assets during the planned period; n centuries, n vys. – the number of months from the moment of input (withdrawal) of input (withdrawal) funds until the end of the year, respectively.
Slide 19
Capital intensity of production is an indicator inverse to capital productivity, which determines the number of funds in monetary terms F per year. per unit of production per year. and is calculated using the formula F emc. = 1 / F dep. = F year. / Per year. The capital-labor ratio characterizes the average value of fixed assets Fyear. per one worker (usually by payroll number) Rspis. and is determined by the formula F voor. = F year. / R list.. All of these indicators characterize production as a whole, and their value depends both on the characteristics of the industry and on the degree of organization of production at a particular enterprise. Typically, capital-intensive industries with long production cycles have much lower capital productivity and high capital intensity of production than industries with more favorable economic characteristics. For example, heavy industry enterprises have capital productivity in the range of 1 - 2, while for local, light industry enterprises, etc. industries, its size reaches 10 – 15 or more. This is largely a consequence of the economic and organizational characteristics of the industry and, to a lesser extent, the quality of production organization at the enterprise itself. The disadvantage of general indicators of the use of fixed assets is that they themselves do not make it possible to conduct a detailed analysis and find out the reasons for a particular state of affairs at the enterprise. For this purpose, a system of private indicators of the use of fixed assets is used. These indicators depend on factors of different economic nature, which are divided into two categories - extensive and intensive. In accordance with this, private indicators are divided in the same way.
Slide 20
Extensive factors that determine the extensive use of fixed assets or their use over time include circumstances external to the production process - compliance with operating hours, labor regulations, the amount of equipment downtime, breaks in the work of personnel, etc. The level of use of fixed assets over time (extensive use) is determined by the coefficient of extensive use K ext. according to the formula K ext. = By time = F real / F cal. F real values and F cal. – actual and calendar funds of time, determined by the ratios from Table 3 of this manual. An indicator of the extensive use of equipment at machine-building enterprises can also be the shift coefficient K cm: K cm = å C i / C max. Here – å С i, C max – respectively, the sum of working machines in each of the three shifts (С i) and in the most loaded shift (C max = С 1). The intensive use of funds is determined by internal factors, primarily the level of equipment load during working hours, which in turn depends both on the production task and on the qualifications of personnel, the condition of the equipment, the level of organization of production, etc. All this determines the output per unit time and is estimated by the coefficient of intensive use of equipment or the power utilization coefficient K int.: K int. = In fact. / In nom. In fact, In nom. – actual and nominal output per unit of time. The generalizing indicator is the integral use indicator or simply the indicator of the use of fixed assets, which takes into account extensive and intensive factors and is calculated using the formula K integral. = To isp. = K ext. x K int. To increase the level of use of fixed assets, there are several directions that coincide with those discussed in Section 5 “Production Capacity” - external and internal factors. External factors include market factors, internal factors include purely production factors, which, in turn, are divided into extensive and intensive.
Slide 21
Concept, composition, structure and sources of working capital formation
Working capital is objects of labor that participate in the production process once, changing their physical form and transferring their value to the cost of the finished product in one production cycle. Working capital includes revolving funds and circulation funds. Working capital is objects of labor that physically consist of raw materials, materials, fuel, cleaning and lubricating oils and materials, semi-finished products various types, as well as wearable tools with a service life of less than one year. This part of working capital is the most significant and amounts to 65–75% of its total value. In turn, working capital, depending on the degree of their participation in production, is divided into production inventories (45 - 50%), work in progress (20 - 25%) and deferred expenses (5 - 7%). Circulation funds are finished products in the enterprise’s warehouse or those already shipped but unpaid, as well as funds in the enterprise’s account that have not yet been spent on production needs. The share of this component is 25 - 30%. Depending on the physical and economic content, circulation funds are divided into finished products in the enterprise warehouse (8 - 10%); shipped but unpaid products and goods (7 – 8%) and cash in settlements (7 – 9%).
Slide 22
There are concepts of standardized and non-standardized working capital. Standardized products include those whose value depends only on the manufacturer itself and therefore can be normalized. This includes the actual working capital and finished products in the warehouse of the enterprise. Together this amounts to about 80 – 85%. Everything else - shipped but unpaid products and goods and cash in settlements - constitutes non-standardized working capital, which corresponds to 15 - 20% of the total amount of working capital. The structure of working capital depends on design features manufactured products, organizational and economic parameters of the enterprise, production technology, etc. The structure of working capital given in the text is typical for mechanical engineering production. Working capital is used in the process of producing new products, moving from one form to another - both physically and economically. This process of changing material and economic content is called the circulation of working capital in the production process. In fact, this process looks like this: at the very beginning of production, the logistics service of the enterprise creates a production stock of working capital, which then gradually turns into finished products during the production process. After its shipment and sale, funds are generated in the company’s account, which are again used to replenish working capital and create inventories for the next production cycle. Thus, working capital during one turnover passes from monetary form to material form (inventory and finished products), and then again to monetary form.
Slide 23
The duration of one revolution is one of the most important economic indicators, which depends on both external and internal factors in relation to production and is an individual indicator. The general rule regarding capital turnover is that the shorter the cycle, the more efficient the production, other things being equal. This is explained by the fact that at each turnover the enterprise receives a certain profit, and therefore, the more such turnovers during a calendar period, the greater the resulting mass of profit. Accordingly, the shorter one cycle, the more of them there are in the same period of time. In other words, the manufacturer is interested in accelerating the turnover of capital, including working capital, because at each turnover a profit is generated, the mass of which for a calendar period (year) is greater, the more turnover the capital produces per year. G. Ford said that it is not so important what capital the owner owns as the speed at which the capital turns over. The formation and replenishment of working capital requires significant material costs, which, in turn, determines the problem of their financing. In modern conditions, three main sources of the formation of working capital can be distinguished: own and equivalent funds; borrowed funds (bank loans); raised funds ( share capital etc.).
Slide 24
From the point of view of formal ownership and structure of funds, they can be divided into the following categories: authorized capital of the enterprise (70 - 75%); various bank loans (15 – 20%); enterprise profit (10 – 15%); accounts receivable (6 – 10%). The given structure is averaged and depends both on the enterprise itself and its organizational and economic parameters, and on external factors– such as the general economic situation in the country, the level of consumer solvency, the cost of loans, the degree of security and guarantee of loans, etc.
Slide 25
Rationing of working capital of an enterprise
To calculate the amount of working capital at an enterprise, standardization is used, which makes it possible to calculate the amount of normalized working capital, which makes up more than 80% of their total value. Rationing is the process of determining the amount of a resource based on an established standard for the consumption of this resource per unit of production. The standard for the consumption of a material resource is a planned target that determines the maximum allowable consumption of material to obtain a unit of product under optimal production conditions. The standard is not a constant value, because Changing production conditions lead to the need to revise standards, which happens periodically at enterprises. In addition to the standard, there is the concept of a standard, which is calculated in days of the enterprise’s need for a particular type of material. The meaning of consumption standards material resources in that they determine the amount of materials spent on a program (or product), and therefore the amount of money needed to ensure production with these materials. To ensure high quality standards, they must meet certain requirements. The norm must be progressive, dynamic, on the one hand, and stable over a relatively long period of time, on the other hand. These two seemingly contradictory requirements actually ensure timely revision of standards at the enterprise.
Slide 26
The second group of requirements - the feasibility of standards, on the one hand, and their tension, on the other - allows us to set standards at a reasonable level in terms of labor productivity and ensuring product quality. Standards are developed using various methods standardization, among which three main ones can be distinguished: experimental-statistical method; experimental laboratory; calculation and analytical. The experimental-statistical method is based on statistical processing of a certain array of experimental data on resource consumption for the manufacture of a product. The larger the array of data under consideration, the more accurate the result and the higher the quality of the norm. The disadvantage of this method is its subjectivity, since it relies on the experience of the standardizer, and the fact that it reflects past experience using historical data. The experimental laboratory method is based on laboratory tests, as a result of which the required values of material consumption corresponding to laboratory conditions are obtained. This determines the lack of experimental laboratory standardization. The fact is that laboratory conditions differ from real ones for the better, and therefore the resulting standards are much more intense than they should be in real conditions.
Slide 27
The calculation and analytical method is based on the use of existing calculation and analytical relationships between technological production parameters and the rate of material consumption. This is the most acceptable method from the point of view of obtaining quality standards. However, the scope of its application is limited to those situations where these same analytical dependencies exist. In practice, rationing of working capital is the calculation of the need for certain material resources for all its components, including inventories, work in progress, deferred expenses and finished products in the enterprise’s warehouse. In accordance with this, the calculation formula has the following form: O å = O zap. + About the work order + About the future. + About the goth. Here O å is the total working capital ratio; About zap. – standard working capital in production inventories; About wp. – standard working capital in work in progress; Oh bud. – working capital standard in the form of deferred expenses; Oh goth. – standard working capital in the form of finished products in the warehouse of the enterprise. Industrial stocks of working capital are the largest part of normalized working capital, which includes four types of stocks - transport, technological, circulating (current) and insurance (emergency).
Slide 28
By definition, the standard of working capital of the i type of material resources O i is equal to the standard in days of need (Di) multiplied by the daily consumption of the type of material resource in question (M day i): O i = D i x M day. i. Accordingly, the general standard for the consumption of working capital in production inventories will be determined by the formula O å = D å x M day. , where D å is the general norm in days of need for working capital in inventories, which is determined by the formula D å = D tran. + D tech. + D current + D fear. , where D tran. – the norm of transport stock, which can be defined as the difference between the duration of cargo turnover and document circulation, i.e. D tran. = T load. - T document. The size of this value depends on the specific conditions of transportation and document flow, but on average under normal conditions it ranges from 3 to 7 days. In case of prepayment T cargo. = T document and the value of the transport stock norm will be equal to zero, i.e. D tran. = 0.
Slide 29
D tech. – the norm of technological stock, due to the need to prepare materials already received for work (unloading, control, acceptance, paperwork, warehousing, laboratory analysis, etc.) On average, this value is 2 – 3 days. D tech. – the rate of current or circulating stock associated with ensuring an uninterrupted supply of production with material resources, subject to periodic discrete supplies of materials. The amount of this stock norm depends on the frequency of delivery, its size, production capabilities supplier, wagon capacity or other vehicles etc. The size and frequency of delivery is determined taking into account the interests of all subjects of this operation, namely the consumer, supplier, transport workers. Moreover, these interests often do not converge - for example, the supplier benefits from large quantities, while the consumer does not always need this; transport organizations are concerned about the full loading of cars, which does not always coincide with the interests of both the supplier and the consumer, etc. Therefore, the optimal size of the supply quantity is calculated based on all of the above considerations.
Slide 30
The average value of the working stock norm is determined by the formula D current. Wed = T post. / 2 where D is fear. - the norm for the safety stock of working capital, which is created in case of unforeseen, emergency, force majeure circumstances, or supply failures. Its value is equal to the time of urgent delivery of material T constant urgent. , which corresponds to the ratio D fear. = T constant term.. Thus, the total value of the working capital stock standard can be calculated using the formula O å = D å x M day. = M days. x (D tran. + D tech. + D tech. + D insurance) Working capital stock standards are calculated for the entire range of consumable materials and for each type separately on a quarterly and annual basis. The second component of normalized working capital is the amount of work in progress, which includes objects of labor in the form of unfinished products and their components (parts, assembly units, sets of individual elements). The volume of work in progress, as well as the standard for their stock, is difficult to calculate exactly at each point in time. Therefore, the calculation is carried out in aggregate, based on the following considerations. All materials used in production immediately go into WIP. The remaining costs are transferred to WIP gradually and distributed evenly.
Slide 31
Based on this, the cost increase coefficient Kn.z is introduced into the calculation. , equal to the ratio of the amount of work in progress to the production cost of a unit of production C pr. and determined by the formulas K n.z. = About zp / With pr. ; To N.Z. = g mat. x 0.5 (1 - g mat.) = 0.5 x (g mat. + 1). Here g is mat. – the share of material costs in the cost of the product, determined by the formula g mat. = Z mat. / From prod. . The amount of working capital in work in progress is influenced by the duration of the production cycle, namely: the longer the production period, the greater the amount of work in progress in work in progress. The production cycle is the calendar duration of manufacturing a product - from the beginning to the end of its production. Based on this, the size of the work in progress is determined for the product and for the time period - a year or a quarter. About wp. ed. = (About zp. year. / T year.) x T pr c. = About salary.day x T pr. c. , etc. c. – duration of the production cycle for this product in days; About wp. ed., About zp. year, About w/w days – the amount of work in progress per product, per year and per day on average, respectively: About work in progress. year. = (About zp.iz. / T pr.ts.) x T year. = About wp. day.xTyear. Depending on the conditions of the problem, the availability of certain initial data, one or another calculation formula is used.
Slide 32
In addition, it should be remembered that in aggregated calculations the following durations of calendar periods are accepted: year - 360; quarter – 90; month – 30 days. The amount of working capital in work in progress is very important indicator level of organization of the entire production process. The lower the share of work in progress, the more mobile and production is more efficient, because WIP itself is a means that will give a return only when the product is manufactured and sold. If the production cycle is long, then the return of funds after the sale of the finished product is delayed, the work in progress is significant, and the controllability of production is low. This situation is typical for heavy industry enterprises, which is one of the reasons for the difficulties in bringing these enterprises out of the crisis. Working capital in the form of finished products and deferred expenses are included in the normalized working capital, but they have some differences. The fact is that these expenses are invested in the current period, but are directed and implemented in the future period and therefore they are carried out, as a rule, at the expense of a bank loan, profit and borrowed funds. In this sense, they can be defined as advanced funds. Their size can be determined in different ways, in particular, by the formula O goth. + Oh bud. = (D ready + D bud.) x T day. Here is D goth. , D bud. – the norm in days of the enterprise’s need for working capital in the form of finished products and deferred expenses, respectively; T days. – daily release commercial products at production cost, determined on average per year.
Slide 33
The average annual value of working capital can be determined by the value of the working capital standard at the beginning and end of the planning period, as well as taking into account the funds introduced and withdrawn during the year (by analogy with the calculation of average annual fixed assets and production capacity): O year. Wed = 0.5 (About start + About end); Oh year. Wed = About the beginning + About in.x n in./ 12 - About out.x n out./ 12 . (7.15) Here O beg. , Oh con. – working capital at the beginning and end of the planning period, respectively; About centuries , About pin. – newly introduced and withdrawn working capital for the period under review; n in, n out. – time in months from the moment of input or output of working capital in the period under review, respectively.
Slide 34
Indicators and ways to improve the use of working capital
The use of working capital is very important, especially in a transition economy with all the negative aspects of this period - non-payments, weak loan guarantees, an unstable market, etc. There are general and specific indicators of the use of working capital. General include the number of turnover of working capital per year n rev. and the duration of one revolution T rev. The calculation formulas are as follows: n rev. = R year. / About a year. Wed ; T rev. = D year. .cal. / n rev. = 360 / n rev. Here R year. – annual volume of product sales. The size of these quantities depends on both internal and external factors.
Slide 35
Internal factors include the level of organization of production, the quality of technology and equipment, personnel qualifications, the duration and structure of the production cycle, the level of its cooperation and specialization, etc. External factors include market factors - demand for products, consumer solvency, taxation features, etc. In these positions, industries with a short production cycle are in a more advantageous position - light, processing and local industries, where the turnover period does not exceed 30 - 60 days. In heavy industry, this figure reaches 200–300 days or more, which is a consequence of the inertia of such industries, long production cycles and, accordingly, complicates their economy. This explains, in particular, the strategy for building a market economy - in the initial period, during the period of capital accumulation, it is necessary to develop small and medium-sized industries and only as the country’s economy strengthens, move on to the formation of heavy industry. Unfortunately, the exact opposite situation has historically developed in Ukraine, which largely explains the current long-term difficulties with the establishment of a market economy.
Slide 36
Particular indicators of the use of working capital relate directly to the use of certain types of material resources, which is assessed by the coefficients of use of materials To use: To use. = M dry / Q cons. ; Q exp. = M dry + M otkh. Here M is dry. , Q exp. – dry weight and consumption rate of materials of the group under consideration for a given element of the product or for the product or production as a whole. M otkh. – the mass of waste generated in the process of manufacturing structural elements – trimmings, shavings, etc. The more advanced the technological process, the lower the mass of waste and the higher the utilization rate of the material, which has a positive effect on the quality of production. The level of use of materials also depends on the materials being processed - the higher the quality of the material in terms of the presence of alloying components, level of heat resistance, corrosion resistance, etc., the worse such materials are processed, which leads to very low utilization rates. This factor is aggravated by the fact that such materials are very expensive. Therefore, when designing a product, the designer and technologist must pay extremely high attention optimal choice materials.
View all slides
Slide 2
Revolving funds
WORKING CAPITAL - part of the production assets of enterprises, completely consumed in one production cycle and transferring its cost to the manufactured product. In the structure of production O.F. allocate production reserves; work in progress; deferred expenses. The circulation funds include finished products; goods shipped but not paid for; funds in settlements; funds in bank accounts and in cash.
Slide 3
Classification:
Slide 4
The amount of working capital employed in production is determined mainly by: The duration of production cycles for manufacturing products The level of technology development The perfection of technology and labor organization
Slide 5
The structure of working capital at enterprises in various industries is not constant, changes dynamically under the influence of many reasons and depends on:
features of the organization of the production process; conditions of supply and sales; locations of suppliers and consumers; production cost structures; specifics of the enterprise.
Slide 6
Elemental composition of working capital
Slide 7
Slide 8
Industrial stocks:
raw materials; basic and auxiliary materials; purchased semi-finished products and components; fuel; packaging materials; spare parts for current repairs; low-value and wearable items (service life less than 1 year and cost no more than 100 minimum wages per unit).
Slide 9
Working capital assets enter production in their natural form and are completely consumed during the manufacturing process. The second part of working capital is circulation funds.
Circulation funds are the enterprise's funds invested in inventories of finished products, goods shipped but unpaid, as well as funds in settlements and cash in the cash register and accounts. Circulation funds are associated with servicing the process of circulation of goods. They do not participate in the formation of value, but are its carriers. The circulation funds include: - finished products in the warehouse; - goods shipped but not paid on time; - cash in the cash register of the enterprise at the stage of settlements between customers and the enterprise; - all types of accounts receivable.
Slide 10
Accounts receivable is money that individuals or legal entities owe for the supply of goods, services or raw materials. Cash is money held in the cash register of an enterprise, in bank accounts and in settlements.
Slide 11
Structure of working capital
Slide 12
The continuity of the production process predetermines the continuity of the movement of working capital in the form of their circulation according to the well-known scheme:
D - SP - P - T - D", where D - funds advanced by an economic entity; SP - means of production; P - production; T - finished products (goods); D" - funds from products, including profit. As you can see, the first stage of the monetary circulation is the advance of funds for the purchase of raw materials, materials, fuel and other funds. At this stage, money moves from the sphere of circulation to the sphere of production, taking the form of industrial reserves. The second stage of the production circuit is the process of production, the creation of a new product that contains both transferred and newly created value. Thus, the advanced value passes from the productive form into the commodity form. The third stage of commodity turnover is the sale of products and receipt of funds. Working capital goes through three stages - one production stage and two circulation stages; They are simultaneously at all stages in the process of movement.
Slide 13
Turnover
Circulation of working capital
Slide 14
Capital intensity
an indicator that is the inverse of such an indicator as capital productivity, and equal to the ratio of the cost of fixed assets to the annual output of products using these funds. Capital intensity is an indicator of Soviet statistics, with the help of which it was possible to assess how effectively fixed production assets were used.
Slide 15
Indicators of effective use of working capital
1. Duration of one revolution (in days) - shows how long it takes working capital to complete a full circulation. where Tz is the duration of the procurement cycle; Ti is the duration of the manufacturing cycle; Тр – duration of the implementation cycle. or Where D is the duration of the planning period; KO – working capital turnover ratio.
Slide 16
2. Turnover ratio - shows the number of turnovers made by working capital during the planning period. where OS is the working capital standard; RP – the amount of products sold. 3. Load factor - shows the share of the cost of working capital per unit of products sold.
Slide 17
Current stock. Designed to ensure production of material resources between two next deliveries. TZ = Rsut * Ip where Rsut is the average daily consumption of material resources (rub.) IP is the interval between deliveries (days) Safety stock. Created if a violation of the delivery time of the material is associated with the supplier. SZ = Rsut * Ips * 0.5
Slide 18
Transport stock. Created if a delivery time violation is associated with a transport organization. It is calculated similarly to the safety stock. TRz = Рsut * Ipt * 0.5 Technological reserve. Created in those cases when incoming material assets do not meet the requirements of the technological process and undergo appropriate processing before launching into production. Tech z = (TZ + SZ + TRz) * Ktech where Ktech is the technological reserve coefficient.
Slide 19
OS performance indicators
The shorter the duration of turnover of working capital or the greater the number of circuits they make with the same volume of products sold, the less working capital is required. The faster circulating assets circulate, the more efficiently they are used.
Slide 20
Rationing of working capital
The process of developing economically justified amounts of working capital necessary for organizing the normal operation of an enterprise is called rationing of working capital. Thus, rationing of fixed assets consists in determining the amounts of fixed assets necessary for the formation of constant minimum and at the same time sufficient reserves of material assets, minimum balances of work in progress and other fixed assets. In the process of rationing working capital, the norm and standard of working capital are determined. OS standards characterize the minimum inventories of inventory items at the enterprise and are calculated in days of supply, stock standards for parts, rubles per unit of account, etc.
Slide 21 View all slides
Description of the presentation by individual slides:
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Slide description:
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Working capital is the money that goes towards the formation of circulating production assets and circulation funds. Structure is the ratio between the individual elements of working capital, expressed in %. Composition - a set of elements that form the working capital of an enterprise.
4 slide
Slide description:
Composition and structure of working capital Working capital Working capital assets Circulation funds Industrial inventories Cash assets Work in progress Expenses of deferred periods Finished products in transit Finished products in warehouse Accounts receivable On account At the cash desk Standardized working capital Non-standardized working capital 100% 70% 30% 100% 70% 25% 5% 100% 30% 30% 25% 15% 80% 20%
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Sources of formation of working capital 1. Own - formed from the enterprise’s own funds (profit) 2. Borrowed - loans from banks and other commercial organizations 3. Attracted - targeted financing funds for their intended use
6 slide
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Working capital represents a moving part of the material and technical base of an enterprise. In the process of movement, working capital makes a circuit. In each cycle they go through three stages:
7 slide
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Money Raw materials Work in progress Finished goods Money (new value) purchases production production sales
8 slide
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PRODUCTION PROCESS Cash advanced by an economic entity Cash, by product including profit Means of production Production Finished products Working capital goes through three stages: one stage of production and two stages of circulation. In the process of movement, they are simultaneously in all stages.
Slide 9
Slide description:
CIRCULATION OF WORKING CAPITAL The first stage is monetary The second stage is production The third stage is commodity Advance of funds for the purchase of raw materials, materials, fuel and other means The production process, the creation of a new product that contains both transferred and newly created value Sales of products and receipt of funds
10 slide
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Task The working capital standard for the enterprise is 3,300 thousand rubles, the product sales plan for the quarter amounted to 19.8 million rubles. Determine the turnover ratio and the duration of one turnover of working capital.
Slide 13
Slide description:
Rationing is the establishment of economically sound stock standards and working capital standards for elements necessary for the normal operation of the enterprise. The norm is a relative value corresponding to the volume of stock of each element of working capital. The standards are set in %, in monetary terms, or in days of supply and show the amount of working capital necessary for the uninterrupted operation of equipment over a certain period of time. Standard - it shows the specific amount of working capital required for production, either a unit of production, or a certain volume.
Slide 14
Slide description:
The rate of working capital for each type or homogeneous group of materials takes into account the time spent in: - current stock, safety stock, transport stock, technological stock.
15 slide
Slide description:
Current stock. Designed to provide production with material resources between two next deliveries. TZ = Rsut * IP where Rsut is the average daily consumption of material resources (rub.) IP is the interval between deliveries (days) Safety stock. Generated if a material delivery time violation is related to the supplier. SZ = Rsut * Ips * 0.5
16 slide
Slide description:
Transport stock. Created if a delivery time violation is associated with a transport organization. It is calculated similarly to safety stock. TRz = Rsut * Ipt * 0.5 Technological reserve. It is created in cases where incoming material assets do not meet the requirements of the technological process and undergo appropriate processing before being put into production. Tech z = (TZ + SZ + TRz) * Ktech where Ktech is the technological reserve coefficient.
Slide 17
Slide description:
Task Determine the cost of supplying material resources if the cost of consumption per decade (Tsdek) is 72 thousand rubles, the interval between deliveries is 8 days, safety stock is 2 days, transport stock is 1 day, technological stock ratio is 3%.
18 slide
Slide description:
In practice, the following main methods of rationing working capital are used: methods of rationing working capital Direct counting method Analytical (experimental-statistical) method Coefficient method
Slide 19
Slide description:
The analytical (experimental-statistical) method is used in the case when in the planning period there are no significant changes in the operating conditions of the organization compared to the previous one. In this case, the calculation of the standard working capital is carried out on an aggregate basis, taking into account the relationship between the growth rate of production volume and the size of the normalized working capital in the previous period. When analyzing available working capital, their actual inventories are adjusted and excess ones are eliminated.
20 slide
Slide description:
The coefficient method is based on determining a new standard based on the standard of the previous period by introducing amendments to it taking into account changes in the conditions of production, supply, sales of products, and calculations that affect the speed of circulation of working capital. For elements of working capital that depend on production volumes (raw materials, supplies, work in progress, finished products in the warehouse), the need is planned based on their size in the base year, the rate of production growth and the possible acceleration of working capital turnover. For elements of working capital that do not depend on the volume of activity (spare parts, low-value and wearable items, deferred expenses), the planned requirement is determined at the level of their average actual balances.
22 slide
Slide description:
Working production assets are an essential element of the production process, the main part of the cost of production. Part of the means of production are material elements that are consumed in the labor process in each production cycle and their value is transferred to the product of labor entirely and immediately. Industrial inventories are items of labor prepared for launch in production process. Work in progress – products (works) that have not passed all stages provided for technological process. Deferred expenses are intangible elements of working capital, including costs for the preparation and development of new products, which are produced in a given period, but are attributed to the products of a future period. Standardized working capital - includes all working capital and part of the circulating capital in the form of finished products in the warehouse. Finished products in the warehouse are part of the enterprise's inventories, as a result of the production process. Goods shipped and in transit - shipped but not paid on time by buyers, located in warehouses of other organizations, or moving from manufacturers to consumers. Cash – the total volume of cash and non-cash money. Own – funds located in the bank and cash desk. They are a necessary condition for the financial stability of the enterprise. Attracted - funds that are in temporary use by the enterprise: loan, credit, investment. Accounts receivable are accounts receivable for amounts due to an organization from customers for goods or services sold on credit. Money owed by the consumer. Non-standardized working capital - includes all circulating assets, with the exception of finished products in the warehouse. GLOSSARY
Slide 23
Slide description:
1. Objects of labor prepared for launch into the production process are characterized by: a) production inventories; b) work in progress; c) deferred expenses. 2. Which element of working capital is not standardized: a) inventories; b) finished products in warehouse; c) accounts receivable. 3. The maximum permissible amount of expenditure of any resource per unit of production: a) standard; b) rationing; c) normal. 4. The time during which working capital completes the full cycle: a) turnover ratio; b) working capital rate; c) period of turnover of working capital. 5. The working capital turnover ratio is determined by: a) K0 = R p / O C b) K0 = O C / R p c) K0 = R p ∙ O C Test
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2 slide
The goal is to identify problems in the use of working capital in the organization’s activities and develop measures to eliminate them. The tasks are to reveal the essence of working capital, consider their classification and sources of formation of working capital; analyze the efficiency of using working capital in the activities of Selkhozproduct LLC; develop measures to eliminate problems when using working capital assets.
3 slide
The role and importance of working capital in the activities of an organization Working capital is money invested in current assets and undergoing continuous circulation in the process of economic activity.
4 slide
Stages of the circulation of funds During the procurement stage, funds are used to form production reserves (materials, equipment, fuel, etc.) During the production stage, finished product. The marketing stage is the process of selling finished products.
5 slide
Structure of working capital Working capital Inventories in warehouses Funds in the production process Cash
6 slide
Classification of working capital Objects of labor 2. Finished products and goods 3. Cash 4. Funds in settlements By functional basis Working capital 2. Circulation funds By sources of formation By degree of liquidity By degree of planning 1. Own funds 2. Borrowed funds 3. Raised funds Absolutely liquid 2. Quickly sold assets 3. Slowly sold working capital 1. Standardized 2. Non-standardized By degree of risk 1. Minimal investment risk 2. Low investment risk 3. Medium investment risk 4. High investment risk By accounting and reflection in the balance sheet By material content Inventories and costs 2. Cash 3. Settlements and other assets
7 slide
Sources of working capital formation Own Borrowed Additional borrowed Authorized capital Long-term bank loans Accounts payable: Additional capital Long-term loans to suppliers and contractors Reserve capital Short-term bank loans for wages Reserve funds Bank loans for employees for insurance Retained earnings Short-term loans with the budget Accumulation fund Commercial loans with other creditors Fund social sphere Investment tax credit Consumption funds Targeted financing and revenues from the budget, from industry and inter-industry target funds Investment contribution from employees Reserves for upcoming expenses and payments Provisions for doubtful debts Other short-term liabilities Charitable and other income
8 slide
Slide 9
LLC "Selkhozprodukt" Commercial organization, legal entity according to the legislation of the Russian Federation: it owns separate property, which is accounted for on its independent balance sheet; it can, in its own name, acquire and exercise property and personal non-property rights, bear responsibilities, and be a plaintiff and defendant in court. The main activities of the company are: - Agriculture, hunting and the provision of services in these areas - Provision of services in the field of crop production and livestock farming, except veterinary services - Provision of services related to the production of agricultural crops.
10 slide
Economic justification efficiency of use of working capital Indicator 2010 2011 Change Revenue from all types of sales (thousand rubles) 30808 28027 -2781 Revenue from sales of products (thousand rubles) 28007 25479 -2528 Average total capital for the period under study (thousand rubles .) 58935 53328 -5607 Including: working capital at the beginning of the year 48591 69280 20689 working capital at the end of the year 69280 37376 -31904 Total capital turnover ratio 0.4 0.7 0.3 Including: working capital at the beginning of the year 0 .6 0.4 -0.2 working capital at the end of the year 0.4 0.7 0.3 Duration of turnover of total capital, days 912,521 -391 Including: working capital at the beginning of the year 608,912,304 working capital at the end of the year 912 521 -391
11 slide
Indicators effective use working capital Turnover ratio - shows the cost of products sold for each ruble of working capital. The higher the turnover ratio, the more efficiently working capital is used. where Q is the volume of commercial products; OBs – average cost of working capital. Kob = 28007/58935 = 0.5 (2010) Kob = 25479/37376 = 0.7 (2011).
12 slide
Indicators of effective use of working capital Load factor - shows how much working capital the organization uses for each ruble of products sold. The higher the load factor, the less efficiently working capital is used. Kz = 58935/28007 = 2.1 (2010) Kz = 37376/25479 = 1.5 (2011).
Slide 13
Indicators of effective use of working capital The average duration of one circulation of funds is determined by the formula: where, Vob is the duration of one circulation expressed in days; T – number of days in the period. The more efficiently working capital is used, the shorter the duration of one revolution. Vob = 365/0.5 = 730 days or 2 years (2010) Vob = 365/0.7 = 521 days or 1.5 years (2011).
Slide 14
Indicators of effective use of working capital The duration of one turnover of working capital is calculated as the ratio of the number of days of the reporting period to the working capital turnover ratio. (58935*365)/30808 = 699 days (2010); (53328*365)/28027 = 695 days (2011).
ENTERPRISE ECONOMY Question No. 1.FIXED ASSETS
ENTERPRISES PLAN
1. Basic
funds:
concept,
compound
And
structure
2. Types of valuation of fixed assets
3. Depreciation of fixed assets
4. The concept of depreciation and calculation methods
depreciation charges
5.Indicators
efficiency
fixed assets
use Fixed assets of an enterprise are
value expression of means of labor,
who transfer their value to the product
in parts as they wear out.
The law of reproduction of fixed capital, the value of fixed capital, introduced in
production is fully restored,
providing technical
renovation of labor tools. Classification
Fixed assets
(structure by areas of activity)
Production
Non-productive
Fixed assets
(by economic sector)
Industries,
Industries providing
producing
market and non-market
goods
services
Fixed assets
Active part
Passive part Fixed assets
1) Buildings
2) Facilities
3) Transfer devices
4) Machinery and equipment
5) Vehicles
6) Tools, inventory
7) Draft animals
8) Productive livestock
9) Perennial plantings
10) Other Basic valuations of fixed assets
Residual
price
The difference between full
original
or full
restorative
cost and
accrued
wear and tear
Initial
cost (full)
Amount of actual
costs in
current prices
for the purchase
or creation
means of labor
Restorative
price
(full)
The amount of estimated costs for
acquisition or construction
new means of labor,
similar to overvalued Methods for revaluation of fixed assets
Expert method
Index method
Restorative
cost of basic
funds is determined
through
object-by-object
inventory of funds
labor
Revaluation
carried out by
multiplication
book value
object per index
prices set
for this group
fixed assets Average annual
price
=
fixed assets
Fn
+
Fvved*Tv
12
-
Fselect*T
12Depreciation of fixed assets, partial or complete loss
fixed assets of consumer properties and
cost, both during operation and during their
inaction
Wear
Physical
(loss of technical
properties and
characteristics)
Moral
(depreciation of existing
fixed assets at the expense of
emergence of new more
cheap and more
productive species) Depreciation of fixed assets
process
gradual
transferring the cost of fixed assets
funds as they are worn out on manufactured products,
converting it into monetary form and accumulating
financial
resources
V
purposes
subsequent
reproduction of fixed assets
Sinking fund
special cash reserve,
designed
For
reproduction
or
expanded reproduction of fixed assets Depreciation rate
NA = (First – L) / TA*First
NA – depreciation rate
First - initial cost
of this type of fixed assets (RUB)
T – standard service life
L – liquidation value of this
type of fixed assets (RUB) Depreciation methods
linear
write-off method
cost
proportionally
volume of production
(works)
nonlinear
way
write-off method
reduceable
cost by
about the remainder
sum of numbers of years
useful life
use
* Accelerated depreciation - increased deductions
by linear method Performance indicator system
use of fixed assets
Cost
Generalizing
Indicators
Natural
Relative Coefficient
receipts
Coefficient
disposals
Coefficient
wear and tear
Coefficient
validity
=
=
=
=
Cost of admission to
fixed assets period
Cost of fixed assets
end of period
Cost of departures in
fixed assets period
Cost of fixed assets
beginning of the period
Amount of wear and tear
funds
Full cost of basic
funds
Residual value
fixed assets
Full cost of basic
funds Relative indicators
Extensive
use
1. Coefficient
shifts
2. Share of people not working
equipment
3. Equipment downtime
in % of planned
time fund
4. Coefficient
use
time
5. Average number of hours
equipment operation
per day
Intensive
use
1. Coefficient
intensity
downloads
equipment
2. Coefficient
use
power Number of working hours
Coefficient
actual equipment
extensive
=
use
Number of working hours
equipment
planned equipment
Number of spent
machine operator equipment
Coefficient
=
shifts
Quantity installed
equipment
Coefficient
intense =
use
equipment
Performance
actual equipment
Technically sound
performance
equipment
Coefficient
Coefficient
Coefficient
integral = intensive
extensive
X
use
use use
equipment
equipment
equipment Capital intensity
Capital productivity
Generalizing
indicators
Capital-labor ratio
Equity return Capital productivity
Sales revenue
=
Capital intensity =
Cost of fixed assets
Cost of fixed assets
Sales revenue
Cost of fixed assets
Fund-to-weight ratio =
there is
Average salary
number of employees Conclusions
Main production assets of the enterprise
- these are means of labor involved in many
production cycles, preserving their natural
shape and transferring cost to the manufactured product
in parts as they wear out.
Fixed assets of an enterprise can be
classified by type, purpose or
the nature of participation in the production process.
Depending on the purpose in production and economic activities, fixed assets
are divided into passive and active.
To evaluate the effectiveness of use
main
several groups of production assets are used
relative,
generalizing and natural.
indicators:
cost,
Task
*Determine the average annual cost of open pension fund,
OPF cost at the end of the year, coefficients
entry and exit according to the following data:
the cost of OPF as of 01.01. - 86,100 thousand rubles;
received 01.03. OPF in the amount of 8,200 thousand rubles;
retired due to wear and tear 01.10. OPF in the amount of 26
400 thousand rubles; retired due to wear and tear on 12/01. OPF
for the amount of 1200 thousand rubles.
Task
**Determine the amount of depreciation charges
linear method and diminishing method
balance, if the book value is RUB 24,000,
depreciation rate - 20%, useful life
use - 5 years.
Task
*Define
indicators
efficiency
use of fixed assets (capital productivity and
capital intensity)
at
provided:
revenue
from
product sales amounted to 10 million rubles,
cost of fixed assets at the beginning of the year – 600
thousand rubles, at the end of the year - 400 thousand rubles. Test
1. At what cost are fixed assets valued when added to the balance sheet?
enterprises:
a) at replacement cost;
b) at original cost;
c) at residual value;
d) at a mixed cost.
2. The capital productivity indicator characterizes:
a) the number of products produced per 1 rub. OPF;
b) the level of technical equipment of labor;
c) labor productivity.
3.
Which of the following items are included?
production assets:
a) work in progress;
b) production and household equipment;
c) finished products.
V
compound
main
4. What characterizes the extensive use of basic production facilities
funds
a) capital productivity, capital intensity;
b) shift ratio;
c) product profitability. Test - continuation:
5. Which of the listed positions does not belong to the active part of the main
funds:
a) working machines and equipment;
b) buildings and structures;
V) measuring instruments and devices;
D) computer technology;
D) vehicles.
6. The level of use of fixed production assets is characterized by:
a) profitability;
b) capital productivity, capital intensity;
c) labor productivity.
7. Depreciation of fixed assets is:
a) depreciation of fixed assets;
b) transferring the value of fixed assets to the cost of production;
c) restoration of fixed assets;
d) maintenance of fixed assets. Question No. 2.
WORKING CAPITAL
ENTERPRISES PLAN
1.Composition
And
structure
negotiable
funds
2.Sources
formation
working capital
3.Indicators
effective
4.Rationing of working capital
Working capital is money that goes to the formation of working production assets and circulation funds
* Working capital is cashfunds that go to
formation of working capital
production assets and funds
appeals
Compound
- totality
elements forming
working capital
enterprises
Structure
- relationship between
separate
elements
working capital,
expressed as %
Composition and structure of working capital
* Composition and structure of working capitalWorking capital
100%
Negotiable
production assets
70%
100%
Circulation funds
30%
PRODUCTION
RESERVES
UNSAVER
SHENNOE
PRODUCTION
EXPENSES
FUTURE
PERIODS
READY
PRODUCT
CIA ON
WAREHOUSE
READY
PRODUCT
CIA B
WAYS
70%
25%
5%
30%
30%
100%
CASH
REMEDIES
25%
ON
ACCOUNT
REQUIRED WORKING CAPITAL
80%
DEBTOR
SKYA
LONGER
NOST
15%
AT THE BOX OFFICE
NON-STANDARDIZED
WORKING CAPITAL
20%Sources of formation
working capital
1. Own – formed due to
the enterprise's own funds
(profit)
2. Borrowed - loans from banks and
other commercial organizations
3. Attracted - target funds
financing for their use
for its intended purpose Working capital represents
moving part of logistics
enterprise bases. While moving
working capital circulates.
In each circuit they pass three
stages:
2.
Production
1.
Preparatory
3.
Sales 2.
Production
Implementation
Money (new
size)
Production
Finished products
Production
3.
Sales
Unfinished
production
Procurement
Raw materials
Money
1.
Preparatory Indicators of effective
use of working capital
1. The duration of one turnover (in days) shows how long the working capital
make a complete circuit.
about z and r
where Тз – duration of the procurement cycle;
Ti is the duration of the manufacturing cycle;
Тр – duration of the implementation cycle.
or
D
about
Co.
where D is the duration of the planning period;
KO – turnover ratio
working capital. Task
Working capital ratio
enterprises 3300 thousand rubles, plan
sales of products for the quarter
amounted to 19.8 million rubles.
Define
coefficient
turnover and duration
one
turnover
negotiable
funds. Rationing - establishing economically
reasonable stock standards and standards
working capital by elements required
for the normal operation of the enterprise.
Norm
–
relative
size,
appropriate
volume
stock
everyone
element of working capital.
Norms are set in %, in monetary terms
expression, or in days of supply and show
the amount of working capital required for
uninterrupted operation of the equipment during
a certain period of time.
Standard - it shows a specific
amount of working capital required
for production, or unit of production,
or a certain volume. Norm
negotiable
funds for each
kind or homogeneous
group
materials
takes into account
time
stay in:
-
current stock,
safety stock,
transport stock,
technological stock. Current stock. Designed for
providing production with material
resources
between
two
next
supplies.
TZ = Rsut * IP
where is Rsut
average daily
consumption
material
resources (rub.)
IP – interval between deliveries (days)
Safety stock. Created if
delay in delivery of materials
associated with the supplier.
SZ = Rsut * Ips * 0.5 Transport stock. Created if
The delivery time delay is due to
transport organization. It is calculated
similar to safety stock.
TRz = Rsut * Ipt * 0.5
Technological stock. Created in
in cases where incoming material
values
Not
answer
requirements
technological process and before launch in
production
pass
relevant
processing.
Tech z = (TZ + SZ + TRz) * Ktech
where Ktech –
stock.
coefficient
technological Task
Define
price
supply of material resources,
if the cost of consumption is for
ten days (Tsdek) - 72 thousand rubles,
interval between deliveries – 8
days, safety stock – 2 days,
transport stock – 1 day,
coefficient
technological
stock – 3%. Test
1. Objects of labor prepared for launch into production
process is characterized by:
a) production inventories;
b) work in progress;
c) deferred expenses.
2. Which element of working capital is not standardized:
a) production inventories;
b) finished products in warehouse;
c) accounts receivable.
3. The maximum permissible amount of spending any resource on
unit of production:
a) standard;
b) rationing;
c) normal.
4. The time during which working capital completes its
circuit:
a) turnover ratio;
b) working capital rate;
c) period of turnover of working capital.
5. The working capital turnover ratio is determined:
a) K0 = P p / O C
b) K0 = O C / P p
c) K0 = P p ∙ O C