Efficiency of use of financial resources of enterprises. Current assets - represent money on hand and on account at the bank and other assets that can be expected to be converted into money within one year

The problem of improving financial resource management is relevant and is attracting increasing attention from representatives financial science. Very often, many problems arise when forming financial resources, and also when there is a question about their effective use.

Assessing the effectiveness of the use of financial resources includes different components and for this process a whole system of indicators is used that characterize changes: 1. the structure of the organization’s capital according to its placement and sources of education; 2. effectiveness and intensity of its use; 3. solvency and creditworthiness of the organization; 4. stock it financial stability.

Let us highlight the main methods for assessing the efficiency of using financial resources:

Profitability calculation method

Profitability shows the profit received from each ruble of funds invested in an enterprise or other financial transactions. Profitability indicators reflect the results of an enterprise's activities more fully than profit; they are used as instruments of investment and pricing policy. The overall profitability of an enterprise can be calculated using the formula:

Profitability = (Profit / Cost of production)

Financial ratio analysis method (R-analysis):

This method is based on calculating the relationship between various indicators of the financial activity of an enterprise. In financial management, the following groups of analytical financial ratios are most widespread: autonomy coefficient: Ka = Own capital / Assets;

financial dependence ratio: Kfz = Liabilities / Assets;

asset turnover ratio: K vol.akt. = Sales volume / Average total assets

coefficients for assessing capital turnover: K vol. cap. = Net sales / Average annual cost of capital

Method for estimating the cost of financial resources

The cost of an enterprise's financial resources serves as a measure of the profitability of economic activity and characterizes that part of the profit that must be paid for the use of new capital to support the reproduction process and sales of products. This method calculates: – the cost of a functioning equity enterprises:

Capital Cap = Total Assets – Total Liabilities – Weighted Average Cost of Capital:

WACC = Rzk * Dzk + Rsk * Dsk,

where Rzk is the price of borrowed capital; Dzk - share of borrowed capital in the capital structure; Rsk - price of equity capital; Dsk is the share of equity capital in the capital structure.

– marginal efficiency of capital.

Peck = Increase in the level of profitability of additionally attracted capital / Increase in the weighted average cost of additionally attracted capital

Assessing the effectiveness of the use of financial resources is necessary for making management decisions that are aimed at increasing profitability, identifying the causes of losses, and ensuring a stable financial condition. The effectiveness of making management decisions that are related to the further use of own, attracted and borrowed financial resources depends on the quality of this assessment.

Thus, it becomes clear that the results that are revealed in the process of assessing the effectiveness of the use of financial resources underlie the development of measures aimed at more efficient management of financial resources, a more rational distribution of profits, which ultimately helps to increase the value of the entire commercial enterprise.

Use of finances is a set of measures aimed at the competent distribution and investment of own (borrowed) Money at the level of the state, companies or individuals.

Use of finance by the state

All financial resources of the state can be divided into two types - decentralized, which include the funds of each individual enterprise, and centralized funds (here we can highlight off-budget funds and state budget).

One of the main tasks of government agencies is computing required volumes financial resources. The more accurate the calculation, the better it is possible to build the structure of production and balance the country’s monetary resources and funds. In turn, errors in calculations can lead to a decrease in the efficiency of using finance in production. The result is a disruption in the implementation of basic investment programs and a structural imbalance.

All financial resources of the state come from several main sources :

- national income- This is the main source of replenishment of the state treasury at the macro level. It is on the basis of the distribution and redistribution of capital that centralized capital funds are created. One part of the national capital comes from enterprises and partly can remain at their disposal. At the same time, decentralized resources are formed that are necessary to cover the costs of production processes;

- financial income of enterprises and production of the country. Such sources of financing include, first of all, which is one of the forms of the price of a surplus product;

The main methods of management and proper use of finances include planning, forecasting, insurance, self-financing, a system of depreciation charges, and so on.

Along with quality management, one of the main tasks is to ensure financial control company work. Its essence lies in checking the intended use of available capital, monitoring the solvency of the company, the implementation of existing plans, and so on.

Qualitative control and analysis of the company’s financial activities for (as a rule, for a year) allows us to establish the completeness of the implementation of the financial plan for total income and for individual types of income. In addition, it can draw conclusions on the company’s solvency, balance sheet liquidity, real financial stability, and so on.

For effective use finance, it is important to optimize the company’s capital structure as much as possible. It must fully comply with its area of ​​activity and requirements. Thus, the ratio of leverage and risk capital should be at such a level that it receives the expected return on its investment. Sometimes it is easier and more efficient to take out a short-term loan than to drag the company into medium-term or long-term loans for a long time.

Another important point effective use of finances - competent management production assets company, as well as its intangible capital. Here it is important to decide on one of the four methods of depreciation of funds. In this case, an important point is taking into account the calculated coefficients and their timely adjustment (if necessary).

Most companies aim to reduce the ratio financial risk to a minimum. To do this, they need to solve several problems - increase the amount of equity capital and reduce the amount of borrowed funds. In this simple way, you can significantly reduce a company’s dependence on third-party sources of financing, making it autonomous and competitive.

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The efficiency of using financial resources is determined by their turnover. In this case, it is possible to analyze both the total amount of financial resources of a commercial organization and their individual types.

The efficiency of using financial resources is determined by their turnover.

The efficiency of using financial resources is determined by their turnover. In this case, it is possible to analyze both the total amount of financial resources of the enterprise and their individual types.

The efficiency of using financial resources is largely determined by the effectiveness of the system for their distribution and control over the results of use. Regular and full payment of interest on loans and liquidation of enterprise debts depend on this.

The efficiency of use of financial resources is considered within the framework of management current assets. In particular, the turnover of inventories and funds in calculations, the duration of operating and financial cycles and other indicators. The corresponding methods and their characteristics are given in the specialized literature. Here we just note that the acceleration of the turnover of investments in current assets is considered a favorable trend.

The efficiency of the use of financial resources largely depends on the rhythm of production, the national use of funds available to the enterprise, the costs incurred for the production of tsrsduktski, the timely and complete satisfaction of payments and obligations provided for in the financial plan of the enterprise. The financial condition depends on many aspects of the enterprise’s activities, and first of all it is determined by the action of production factors.

To characterize the efficiency of using financial resources in world practice, return on investment indicators are used: all funds (assets), net assets, operating assets, own investments, shares of other enterprises.

As part of the management of current assets, the efficiency of use of financial resources is considered. Here, turnover indicators are calculated (Table 15), as well as the duration of the operating and financial cycles.

Financial policy should pursue the goal of increasing the volume and efficiency of use of financial resources.

Results in any area of ​​business depend on the availability and efficient use of financial resources, which equate to circulatory system ensuring the life of the enterprise. Therefore, taking care of finances is the starting point and the end result of the activities of any business entity. In conditions market economy these questions are of paramount importance.

Results in any area of ​​business depend on the availability and efficient use of financial resources, which are equated to the circulatory system that ensures the life of the enterprise. Therefore, taking care of finances is the starting point and the end result of the activities of any business entity. In a market economy, these issues are of paramount importance. Bringing to the fore the financial aspects of the activities of business entities, increasing the role of finance is characteristic feature and a trend around the world.

The cash flow plan and statement specify and detail the current financial plan, clarify its indicators, allow you to use all available reserves for increasing the efficiency of using the financial resources of the enterprise, and provide a complete picture of the state of payments and settlements in the analyzed period. With the help of these documents, the preparation of cost estimates, production and distribution costs is controlled; production of products and their sales by structural divisions and branches; level of self-sufficiency and profitability.

One of the most important conditions successful management business firm is to analyze its financial condition, since the results in any area entrepreneurial activity depend on the availability and efficiency of use of financial resources.

If the main task of government control is to facilitate the successful implementation financial policy state by ensuring compliance with financial legislation, financial discipline, preventing misuse of budgetary and extra-budgetary funds, then the main task of non-state control is to increase the efficiency of use of financial resources of economic entities, ensuring the reliability of financial reporting indicators.

Efficiency of use of financial resources of the enterprise Majerik LLC

Diploma

Finance and credit relations

The purpose of the thesis is to analyze the effective use of financial resources of the LLC Majerik enterprise, as well as to propose measures to improve the use of financial resources. To achieve this goal, it is necessary to solve the following tasks: Consider theoretical basis management of enterprise financial resources...

funding resource public catering

Does the enterprise have its own working capital, its composition and structure, turnover rate and efficiency of use of working capital largely determine financial condition enterprise and the stability of its position in the financial market, namely: Ortomol vitamins official website in Germany at http://www.ortomol.ru.

Solvency, i.e. the ability to repay one’s debt obligations on time,

Liquidity - the ability to make necessary expenses at any time;

Opportunities for further mobilization of financial resources

Effective use of working capital plays a big role in ensuring the normalization of the enterprise, increasing the level of profitability of production and depends on many factors. IN modern conditions huge Negative influence Factors in the crisis state of the economy affect the change in the efficiency of using working capital and the slowdown in their turnover:

Decrease in production volumes and consumer demand;

High inflation rates;

Severance of economic ties;

Violation of contractual and payment discipline;

High level of tax burden;

Reduced access to credit due to high bank interest rates.

All of these factors influence the use of working capital, regardless of the interests of the enterprise. At the same time, enterprises have internal reserves for increasing the efficiency of using working capital, which they can actively influence. These include:

Rational organization of production reserves (resource conservation, optimal rationing, use of direct long-term economic ties);

Reducing the presence of working capital in work in progress (overcoming the negative trend towards a decrease in capital productivity, introducing latest technologies, especially non-waste ones, updating the production apparatus, using modern, cheaper construction materials);

Effective organization of circulation (improving the payment system, rational organization of sales, bringing consumers of products closer to their manufacturers, systematic control over the turnover of funds in settlements, fulfilling orders through direct connections).

A general indicator of the efficiency of using working capital is the indicator of its profitability (Rok), calculated as the ratio of profit from sales of products (Prp) or other financial result to the amount of working capital (Juice):

This indicator characterizes the amount of profit received for each ruble of working capital and reflects financial efficiency the work of the enterprise, since it is working capital that ensures the circulation of all resources in the enterprise.

In Russian economic practice, the efficiency of using working capital is assessed through indicators of its turnover. Since the criterion for assessing the effectiveness of working capital management is the time factor, indicators are used that reflect, firstly, the total turnover time, or the duration of one turnover in days, and, secondly, the turnover rate.

The duration of one turnover consists of the time spent by working capital in the sphere of production and the sphere of circulation, starting from the moment of acquisition of inventories and ending with the receipt of revenue from the sale of products manufactured by the enterprise. In other words, the duration of one turnover in days covers the duration of the production cycle, and the amount of time spent on sales finished products, and represents the period during which working capital go through all stages of the circulation at a given enterprise.