Presentation on the topic: Working capital of the enterprise "" Completed: student gr. B-2. 1 Bazhina Julia Head: Golubeva Irina Lvovna 2012
Content. 1. Concept, composition, structure, sources of formation. l 2. Round working capital. l 3. Rationing of working capital. l 4. Material resources. l 5. The concept and indicators of the use of material resources. l 6. Indicators of the effectiveness of working capital. l 7. Ways to accelerate turnover. l
1. Concept, composition, structure, sources of formation. Working capital is a set of funds intended for the creation of working capital and circulation funds, ensuring a continuous circulation of funds. Working capital includes: cash necessary for the enterprise to create inventories in the warehouse and in production Composition of working capital: Working capital production assets these are objects of labor (raw materials, basic materials, fuel, etc.); means of labor with a service life of not more than 1 year (low-value items, etc.); work in progress and deferred expenses. Circulation funds are the funds of the enterprise invested in stocks of finished products, goods shipped but not paid for, as well as funds in settlements and cash on hand and in accounts.
Sources of formation. According to the sources of formation, working capital is divided into: own and borrowed. Own funds are those that are constantly at the disposal of the enterprise and are formed at the expense of its own resources (profit). l Borrowed are: KZ bank loans (Commercial loan) Other liabilities
2.Circuit means. The current assets of an enterprise are in motion, making a circuit, from the sphere of circulation they pass into the sphere of production, and then from the sphere of production again into the sphere of circulation and. etc. In their movement, working capital goes through approximately 3 stages: the monetary-preparatory stage. productive-direct production process. commodity-continues to be advanced by the SOE, in the same amount as at the production stage. The circuit begins from the moment the enterprise pays for material resources and other elements necessary for production. It ends with the return of these costs in the form of sales proceeds. products. The money is then used to purchase material resources and. etc. d
Circular funds. The process of transferring working capital from the first stage to another is called the turnover of working capital. The time during which a turnover occurs is called the turnover period. l l THE WORKING ASSETS OF THE ENTERPRISE SHOULD BE DISTRIBUTED TO ALL STAGES OF THE CYCLE.
Circulating means occurs according to the scheme: D - T ... P. . . T 1 - D 1 D - cash l. T - means of production l. P - production process l. T 1 - finished products l. D 1 - cash receipts for products l
3. Rationing of working capital is the process of developing economically justified values of working capital necessary for the organization of norms. enterprise work. Rationing of working capital consists in determining the amounts of working capital necessary for the formation of constant minimum, and at the same time sufficient stocks of material assets. Rationing of working capital l helps to identify internal reserves, l reduce the duration of the production cycle l and faster implementation of the GP. l
Rationing of working capital. Norm. working capital in the production stock, work in progress and the balance of the GP in the warehouses of the enterprise. OSTOLNYE ELEMENTS OF WORKING CAPITS-NON-RATED. l. The working capital ratio is l the product of the working capital norm by the indicator whose l norm is defined; calculated in rubles. l Working capital rates characterize min stocks l of inventories at the enterprise l and are calculated in days of stock, l in stock rates, parts, rubles, per unit of account, etc. etc. l
Stock types. Current stocks are needed for the smooth operation of the enterprise l between two batches. l Safety stocks are created in case l of unforeseen deviations in supply. l Transport stocks are created in case of exceeding the term of cargo turnover l in comparison with the terms of the document of turnover at the enterprise l. Technological reserve - is created in the case, l when this species Raw materials need additional information about l Preparatory stock - associated with the need for acceptance, l sorting, storage of industrial stocks. l
4. Material resources are various types of raw materials, materials, fuel, energy, semi-finished products that an economic entity l purchases for use in economic activities l for the purpose of producing products, providing work performance services. l 1). Raw materials are objects of labor that are sent to production for primary processing (ore, cotton). l 2). Materials are objects of labor that have been partially processed (cast iron, steel, etc.). l. They are divided into: l-Basic-needed for the manufacture of products. l-Auxiliary-participate in the implementation of the production process. l l 3). Semi-finished products are objects of labor that have gone through several stages of industrial production, l but require further processing (casting ...) l 4). Energy, fuel - objects of labor, l which set the equipment in motion. l
5. The concept and indicators of the use of material resources. 1). Material costs l 2). Oud. consumption mat. resources per 1 product l 3). Consumption rate l 4). Material consumption of products l Consumption rate-max. allowable flow rate acc. Resources for 1 product l in the conditions of the given level of technology and organization of production. Material consumption (ME) - evaluates the efficiency of using l material resources Material output (MO) - the inverse indicator of ME. l The better the raw materials are used, the lower the IU and the higher the MO
6. Indicators of the effectiveness of the use of working capital. The use of working capital is characterized by indicators: -К. turnover. (Kob) l-Indicator of duration. l-K. loading of working capital. (Kz) l-Release from circulation of working capital. l
K. turnover. (Kob) l K. turnover shows the number of turnovers made by working capital for 1 year (6 months, quarter): where: P- sales revenue for a certain period. O-med. balance, annual rate of working capital for the same period. Characterizes the number of circuits made by the working capital of the enterprise for a certain period or shows the volume of RP per 1 rub. working capital. The higher the Cob, the better the use of working capital. It means that for the year every ruble invested in rev. Wed, did. . . revolutions. l
The indicator of the duration of one turnover in days (does not depend on the duration of one period): where: Kob - K. turnover T - the duration of the period for which the indicator is determined (T \u003d 30; 90; 360 days) 1 year-360 days Half-year-180 days Quarter-90 days Month-30 days Describes Wednesday. the speed of movement of funds at the enterprise does not coincide with the actual period of production and sale of the defined. types of products. Reducing the duration of the 1st turnover means an improvement in the use of working capital. l
K. loading of working capital (Kz) - reverse Kob Characterizes the amount of the balance of working capital attributable to 1 rub. sales proceeds. . The shorter the duration of the turnover or the greater the number of circuits completed by them, while the less working capital is required.
Release from circulation of working capital. As a result of acceleration of turnover or involvement in working capital as a result of a slowdown in turnover: where: ΔD = D 2 - D 1 1). About. c1 \u003d (RP / T) * D 1 2). About. c2 \u003d (RP / T) * D 2
7. Ways to accelerate turnover. Accelerating the turnover of working capital is a priority for any enterprise. I. At the stage of inventories: - the introduction of economics. reasonable standards. stock - wide use of relations with suppliers - complex mechanization and automation, etc. II. At the WIP stage: -introduction of advanced techniques and technology -improvement of the forms of organization of production -improvement of the system of economic incentives III. At the implementation stage: - Approximation of consumers of products to its manufacturers - Improvement of settlement systems l - Shipment of products in strict accordance with contracts
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Concepts about enterprise funds, their classification and structure.
The organization and functioning of any production require certain resources, which can be divided according to their physical and economic content into the following groups: fixed assets, working capital, labor resources, financial resources and management. Fixed assets are tools and means of production that are repeatedly used in the production process, wear out and transfer their value to the cost of finished products with the help of economic mechanism- depreciation .. Working capital - these are objects of labor that are used in production only once, which are physically converted into elements of the finished product and wholly transfer their value to it in one production cycle. Labor resources are the personnel employed in the production of products in all departments of the enterprise. Financial resources are the funds necessary for the organization and conduct of production both at its initial and subsequent stages. Management is the activity of organizing, coordinating, ensuring the production of products, developing and expanding the enterprise, etc.
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Classification of fixed assets of an enterprise
The fixed assets of an enterprise are divided into production (directly or indirectly involved in production or providing it) and non-production (not participating in the production process, but providing housing and communal or social needs enterprises). In what follows, we will deal with the production assets, which for the sake of brevity will be called simply the main ones. According to the “Regulations on the procedure for determining depreciation and attributing depreciation charges to production (circulation) costs” No. 1075 dated 6/1X 1996. the company's fixed assets include material values intended for use in production activities during a period that exceeds 365 calendar days from the moment 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 - automobile transport and components for it, furniture, office and office equipment, household and other electromechanical appliances, tools, group 3 - other fixed assets, including working and power machines, agricultural machinery, tools, working and productive livestock, perennial plantations; 4th group - electronic computers, machines for automatic information processing, their software, related devices for reading, printing information, telephones, microphones, etc. Group 5 - intangible assets, i.e. objects of intellectual property, including industrial property. This also includes other similar rights recognized in the relevant law as the object of property rights (for example, trademarks, know-how, goodwill, etc.).
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Fixed assets belonging to the first group do not take a direct part in the production process, but only create for it the necessary conditions. They 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 its maintenance, and therefore are called active. These are more mobile, wear-out 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: machine and machine park of the enterprise and its divisions; technological complexes, namely: production lines, flexible modules, robotic complexes; functionally independent machines, units, installations. The ratio between the groups of fixed assets at the enterprise determines their structure, which, in turn, depends on many factors, the most important of which are: the type of production, the level of automation and mechanization, the characteristics of manufactured products and production technology, etc. The preferred structure is one 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 in the value calculation of funds, their value is influenced by prices. And prices can be overstated or understated, which can radically change the situation. Therefore, a qualitative additional analysis of the state, structure of funds, etc. is required.
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Methods for assessing fixed assets.
For the management of fixed assets, they are taken into account using two forms of accounting - in kind and in cash. In-kind accounting is carried out using the so-called inventory, conducted annually by a special commission, as a result of which data on the nomenclature and list of fixed assets by type are updated, taking into account their qualitative state 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 value of funds in monetary terms. For this, a value or monetary value 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), there are such types of value of fixed assets: initial, reproduction cost, residual or book value.
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Initial cost (F first) - the cost of the object at the time of its commissioning at this enterprise. This value retains its value until the moment of reconstruction or modernization or until the moment of an officially appointed revaluation and is determined by the formula Ф first. = C ac. x (1 + K tr.-mount. + K there.). Here C purchased. - the price of the object at the time of its acquisition; To tr.-mont. , to there. - coefficients of transport, installation and customs costs at the time of acquisition of the object, respectively. Reproduction cost (F reproduction) - the cost of reproduction of 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 by the formula Ф play. = C est. x (1 + K tr.-mount. + K there.). Here C ots. - the price of the object at the time of its valuation; To tr.-mont, To there. - coefficients of transport, assembly and customs costs at the time of the object assessment, respectively. Residual value (F rest.) - this is the cost determined by the difference between the initial cost and the amount of depreciation accumulated over the period of operation, taking into account all the improvements that increase the value of the object. The residual value may be of a market nature if it is valued at secondary market prices. The book value (B a) is the value of the fixed asset at the time of assessment, i.e. at the moment, taking into account the wear and tear and improvements that have been undertaken during the period of operation of the facility (in accordance with the current "Regulations").
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The book value is calculated quarterly according to the formula B a \u003d (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; and n - the rate of depreciation per quarter (%); B (a-1) - book value of fixed assets at the beginning of the previous quarter; P (a-1) - the cost of acquiring and putting into operation fixed assets for overhaul, modernization during the previous quarter, with the exception of expenses attributed to production costs (no more than 5% of the balance sheet value of equipment); B (a-1) - the cost of decommissioned fixed assets during the previous quarter; A (a-1) - the amount of depreciation 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 foregoing, it can be assumed that the book value and residual value at any given moment coincide, therefore, the concept of "book value" is often used instead of the concept of "residual".
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Types of depreciation of fixed assets and ways to eliminate them
In the process of existence and operation, fixed assets wear out. There are three types of wear - physical, functional and economic. In turn, functional wear is divided into moral and technological. Physical wear is the loss of the physical capabilities of the machine as a result of operation. Over time, individual elements of the machine become dull, erased, destroyed, accuracy, reliability, etc. are lost. All this is a consequence of the operation of the facility, and the more intensive the operation of the machine, the faster it physically wears out. According to the definition of K. Marx, the physical wear and tear of machines is comparable to “erasing a coin from use”. Distinguish permanent and emergency physical wear, removable and irremovable, explicit and implicit. In any case, the consequences of physical wear and tear can be partially eliminated by repairing equipment, modernizing it, restoring it, etc., by replacing or restoring worn-out elements. The loss of value from physical wear and tear is determined by several methods, namely: by effective age, by indices of decline in consumer properties, by a decrease in net income (profit) during operation, etc.
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Functional wear is the reduction in performance and other characteristics of a pre-existing machine compared to its new interchangeable models 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 designs. Wherein we are talking about non-working samples, so the fact of operation in this case does not matter. The reason for functional wear is fundamentally scientific and technological progress, which allows you to create more advanced machines and units. Functional depreciation 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(NTP). 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 operation of the machine does not matter. According to the figurative expression of K. Marx, machines wear out morally just as "as a sword grows old in a sheath without use." Obsolescence is manifested not only in the deterioration of operational parameters, but also in outdated design, product structure, 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 upgrading the facility. The feasibility of carrying out repair and reconstruction work is decided in each individual case individually as a common optimization problem, where the criteria are the economic efficiency parameters calculated according to current modern methods.
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Technological wear and tear is due to the emergence of fundamentally new, more advanced technologies and principles of operation of machines and equipment. As a result, with the closeness of operational indicators (power, number of revolutions, productivity, etc.), the operating costs, and hence the cost of the products obtained 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 the previously existing manual, mechanical ones, the emergence of computers, etc. The difference between obsolescence and technological obsolescence is that obsolescence is permanent, has a relatively low speed, determined by the general pace of scientific and technological progress in industries. Technological wear is explosive in nature, manifests itself very sharply and is determined by the emergence of fundamentally new technologies, which determines the nature of changes in the industry in general and in this category of machines. It is difficult to predict the next technological breakthrough, these are probabilistic processes that often go unnoticed, implicitly, and only when they become massive, one can assess their significance and consequences. Economic depreciation is the loss of the value of an object as a result of its non-compliance with market requirements. Simply put, an economically depreciated car (obsolete, etc.) is sold at a low price or is not sold at all on this market At the moment. Based on this, we can conclude that economic depreciation is to some extent a local and temporary phenomenon - i.e. it may be that in another market, at another time, such a machine can be sold for a great price. This means that the amount of economic depreciation will be less. All of these types of wear lead to a limitation of the service life of machinery and equipment. According to this, as well as legal aspects operation distinguish at least four types of service life of objects.
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Physical service life T sl. physical - the time until the complete wear of the equipment. This is generally the longest of all lifetime values. Economic or standard service life T sl. economy - 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 period T gar. - 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 one is the warranty period T gar. is minimal. Remaining service life T rest. is the period of time of the residual operation of the machine from the moment of assessment ( this moment) until the end of the expected economic operation. In a market economy, one of the fundamental is the concept of marketing, according to which each product or product must meet the requirements of the market, which ensures high demand for them and the 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 (LCI). 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 their departure not only from the sphere of production, but also from the market. It is clear that this is a very long period of time, the various periods of which have their own distinctive features and functions, both from the point of view of the formation of the product, and from the purely technological side. Schematically, this process is depicted by a curve constructed in the coordinates "production volume (profit or sales) - time" throughout the entire period of the product being on the market. This curve has the shape of a Napoleonic hat, i.e. first - rise, growth with varying degrees of intensity, then - some stabilization and after - a decrease in volumes and a decline.
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The life cycles of individual products are specific, depending on their technical, technological features, conditions and duration of operation, quality, strength of competition in the market, and many other reasons. However, there is a common thing that is typical for the life cycle of most products at the present time: Regardless of the 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 stage of maturity - lasts, and how quickly the funds spent on its development and introduction to the market were returned. For almost all products, the duration life cycles decreases due to the acceleration of scientific and technical progress, strengthening of ties between manufacturers, users, the presence of strong competition, etc. Increase in the costs of development, implementation, provision High Quality production, which is due to both external (inflation, growing competition, rising living standards) and internal factors. The latter include the need for increasingly sophisticated and expensive scientific research, experimental design, etc. Thus, the duration of the LCI is also an important time characteristic of the product, which depends on the degree of development of the machine, both at the stage of its design and in the manufacturing process. In other words, the higher the quality of the machine, the longer and more efficiently it can function and the longer its life cycle. It should be noted that at present, changes in engineering and technology are taking place so quickly that the duration of product life cycles is correspondingly reduced. Moreover, this is happening precisely because of the rapid increase in the pace of life in general, the pace of scientific and technological progress in relation to technology, and also because of the globalization of production and life processes.
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Depreciation of fixed assets - essence and calculations
During operation, the equipment wears out, loses partially or completely its original technical and other properties, which, of course, affects the value of their cost and reduces it. It is said that equipment depreciates. 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. 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 depreciation rate. Depreciation is subject to: costs associated with the acquisition and commissioning of fixed assets and intangible assets; self-produced fixed assets; costs associated with all types of repairs, reconstruction and modernization of equipment and machines. Depreciation is accrued quarterly, starting from the quarter following the quarter of their transfer to the balance of the tax payer. There are several methods for calculating depreciation, of which the straight-line method is the simplest and most commonly used.
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With a uniform method of calculating depreciation deductions, the initial cost of fixed assets is taken as the base, and the rate of depreciation deductions a n does not change within one category of fixed assets. In this case, formula A is used. \u003d F first x (a n / 100) . According to the current standards for new funds put into operation after January 1, 2003, the following maximum allowable depreciation rates for groups of funds are established: 1 group of fixed assets - 8% per annum; 2 group of fixed assets - 40% per annum; 3 group of fixed assets - 24% per annum; 4 group of fixed assets - 60% per annum. The same norms can be used to calculate the depreciation of equipment. The company has the right to independently choose the method and rate of calculation of depreciation. The only requirement is that the selected and approved depreciation rates do not exceed the allowable values. It should be noted that these norms are significantly increased in relation to the previously existing ones, therefore their use leads to an acceleration of the processes of writing off funds, their full depreciation.
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The accelerated depreciation process has both positive and negative sides. On the one hand, the accelerated depreciation process leads to a decrease in the carrying value of the property, and this, in turn, reduces the base for property tax. In addition, funds for the renovation of equipment are formed faster, which in fact is the purpose of accelerated depreciation. On the other hand, the inclusion of increased depreciation charges in the costs leads to an increase in the cost, and, possibly, the price, which can reduce the competitiveness of products. Therefore, enterprises now independently determine these parameters within the existing restrictions, based on the economic situation at the enterprise. The uniform form of depreciation calculation is convenient for its simplicity, but has a significant drawback that limits its scope. 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 expedient for machines and equipment with short terms services, rapidly depreciation and minimal costs for the improvement of funds during the period of their depreciation. These can be classified as funds of the 2nd and 4th groups according to the accepted classification.
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In addition to the uniform method, there is a method for calculating and charging depreciation charges based on the book value of B t. The calculation formula in this case has the form A year. \u003d 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, from the value of which it is constantly necessary to accrue depreciation. At the same time, the law states that depreciation of equipment should be charged until its cost becomes equal to zero. There is a problem with this that needs to be addressed by legislation. With any form of depreciation, these funds themselves are created at the expense of the depreciation component in the cost of production, which can be calculated on an aggregate basis using the depreciation formula. = A year. / N year. Here Z depreciation. - the value of the depreciation component in the unit cost of production; A year. – annual depreciation charges for the enterprise; N year. - annual output. This simplified formula, since Almost any enterprise produces not one, but several types of products, but the principled approach is correct. A special form of ownership is the so-called intangible assets, i.e. industrial and intellectual property, as well as other similar rights recognized as the object of the property right of a particular entrepreneur, which decreases in the process of production use (for example, trademarks, know-how, etc.). Depreciation on intangible assets is charged in equal shares, based on their initial cost, taking into account indexation for the entire period of use, but not more than 10 years (the so-called lump-sum payment).
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Indicators and ways to improve the use of fixed assets
The level of use of fixed assets significantly affects overall efficiency production, so it is important to correctly estimate this value. There are general and private indicators of the use of funds. Among the many general indicators, the most important are the return on assets of fixed assets, the capital intensity of production and the capital-labor ratio. Capital productivity of fixed assets Fotd. shows the average output per year. in monetary terms per unit of average annual fixed assets and is calculated by the formula Ф otd. = 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 Ф vv., Ф vyv. - input and output fixed assets during the planning period; n in., n out. - the number of months from the moment of input (withdrawal) of input (output) funds until the end of the year, respectively.
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The capital intensity of production is an indicator that is inverse to the return on assets, which determines the number of funds in monetary terms F year. per unit of production per year. and is calculated by the formula Ф emk. \u003d 1 / F det. = F year. / In year. The capital-labor ratio characterizes the average value of fixed assets Fyear. per employee (usually by headcount) Рspis. and is determined by the formula Ф voor. = F year. / R list .. All 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 a long production cycle have a much lower return on assets and a high capital intensity of products than industries with more favorable economic characteristics. For example, enterprises of heavy industry have a return on assets in the range of 1 - 2, while for enterprises of local, light, etc. industries, its value reaches 10 - 15 or more. This is largely a consequence of the economic and organizational features of the industry and, to a lesser extent, the quality of the organization of production 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 this or that state of affairs in the enterprise. For this, a system of private indicators of the use of fixed assets is used. These indicators depend on factors that are different in their economic nature, which are divided into two categories - extensive and intensive. In accordance with this, private indicators are divided in the same way.
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The extensive factors that determine the extensive use of fixed assets or their use over time include circumstances external to the production process - compliance with the operating mode, labor regulations, the amount of equipment downtime, personnel breaks, 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. = To time. = F real / F cal. F-values and F cal. - the 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 factor K see: K see = å С 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 utilization during working hours, which in turn depends both on the production task and on the qualifications of the personnel, the condition of the equipment, the level of organization of production, etc. All this determines the output per unit of time and is estimated by the coefficient of intensive use of equipment or the power utilization factor K int .: K int. = In fact. / In nom. In fact, in No. - actual and nominal output per unit of time. Generalizing is the indicator of integral use 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 integr. = To use = 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 " Productive capacity» - external and internal factors. Market factors are classified as external, purely production factors as internal, which, in turn, are divided into extensive and intensive.
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The concept, composition, structure and sources of working capital formation
Circulating assets are objects of labor that participate in the production process once, while changing their physical form and transferring their value to the cost of finished products in one production cycle. Working capital includes working capital and circulation funds. Revolving funds are objects of labor that physically consist of raw materials, materials, fuel, cleaning and lubricating oils and materials, semi-finished products various kinds, as well as high-wear 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 their total value. In turn, working capital, depending on the degree of their participation in production, is divided into inventories (45 - 50%), work in progress (20 - 25%) and deferred expenses (5 - 7%). Circulation funds are finished products in the warehouse of the enterprise or already shipped, but unpaid, as well as funds on the account of the enterprise 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 warehouse of the enterprise (8 - 10%); shipped but unpaid products and goods (7-8%) and cash in settlements (7-9%).
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There are concepts of standardized and non-standardized working capital. Normalized ones include those whose value depends only on the manufacturer himself and therefore can be normalized. This includes the actual working capital and finished products in the warehouse of the enterprise. Together, this is about 80 - 85%. Everything else - shipped, but unpaid products and goods and cash in the calculations - is non-standardized working capital, which corresponds to 15 - 20% of the total working capital. The structure of working capital depends on the design features of products, organizational and economic parameters of the enterprise, production technology, etc. The structure of working capital given in the text is typical for machine-building production. Working capital is used in the production process new products, while moving from one form to another - both physically and economically. This process of changing the 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 passes into finished products during the production process. After its shipment and sale, funds are formed on 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 is transferred from monetary form into material (inventory and finished products), and then - again into the form of money.
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 the turnover of funds is that the shorter the cycle, the more efficient the production, all other things being equal. This is explained by the fact that on each turnover the enterprise receives a certain profit, and therefore, the more such turnovers during the calendar period, the greater the amount of profit received. Accordingly, the shorter one cycle, the more of them in the same period of time. In other words, the manufacturer is interested in accelerating the turnover of capital, including working capital, because on each turnover a profit is formed, the mass of which for a calendar period (year) is the greater, the more turnover per year the capital produces. G. Ford said that it is not so important what kind of capital the owner owns, but how fast the capital turns around. 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 working capital formation can be distinguished: own and equivalent funds; borrowed funds (bank loans); attracted funds (share capital, etc.).
slide 24
In terms of formal ownership and structure of funds, they can be divided into the following categories: the authorized capital of the enterprise (70 - 75%); various bank loans (15 - 20%); profit of the enterprise (10 - 15%); receivables (6 - 10%). The given structure is averaged and depends both on the enterprise itself and its organizational and economic parameters, as well as 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 the enterprise
To calculate the amount of working capital at the enterprise, rationing is used, which makes it possible to calculate the amount of normalized working capital that makes up more than 80% of their total value. Rationing is the process of determining the value of a resource, based on the established standard for the consumption of this resource per unit of output. The standard for the consumption of a material resource is a planned task that determines the maximum allowable consumption of material to obtain a unit of output under optimal production conditions. The standard is not a fixed value, because changing production conditions lead to the need to revise the norms, which happens periodically at enterprises. In addition to the standard, there is the concept of a norm, which is calculated in days of an enterprise's need for one or another type of material. The significance of material resource consumption standards lies in the fact that they determine the amount of material consumption for a program (or product), and hence the amount of money required to ensure the production of these materials. To ensure high quality standards, they must meet certain requirements. The norm must be progressive, dynamic, on the one hand, and stable for a relatively long period of time, on the other hand. These two seemingly contradictory requirements actually provide a timely revision of the standards in the enterprise.
slide 26
The second group of requirements - the feasibility of the norms, on the one hand, and their tension, on the other - allows you to set the standards at a reasonable level in terms of labor productivity and product quality assurance. Norms are developed using various methods of rationing, among which three main ones can be distinguished: experimental-statistical method; experimental laboratory; settlement and analytical. The experimental-statistical method is based on the 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 rater, and that it reflects past experience using historical data. The experimental laboratory method is based on laboratory tests, as a result of which the required material consumption values are obtained that correspond to laboratory conditions. This determines the lack of experimental laboratory rationing. The fact is that laboratory conditions differ from real ones for the better, and therefore the resulting norms are much more stressful than they should be in real conditions.
Slide 27
The calculation-analytical method is based on the use of existing calculation-analytical dependencies between the technological parameters of production and the consumption rate of the material. This is the most acceptable method in terms of obtaining quality standards. However, its scope is limited to those situations where these same analytical dependencies exist. In practice, the 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: About å = About app. + About zp + About bud. + About goth. Here About å - the total standard of working capital; About app. - the standard of working capital in inventories; About zp. - the standard of working capital in work in progress; Oh bud. - the standard of working capital in the form of deferred expenses; Oh goth. - the standard of working capital in the form of finished products in the warehouse of the enterprise. Industrial stocks of working capital - this is the largest part of the normalized working capital, which includes four types of stocks - transport, technological, circulating (current) and insurance (emergency).
Slide 28
By definition, the norm of working capital of the i-th type of material resources О i is equal to the norm in days of need (Дi) multiplied by the daily consumption of the considered type of material resource (M day i): О i = D i x M day. i. Accordingly, the general standard for the consumption of working capital in inventories will be determined by the formula O å \u003d D å x M day. , where D å is the general norm in days of the need for working capital in inventories, which is determined by the formula D å = D tran. + D tech. + D current + D fear. , where D trans. - the norm of the transport stock, which can be defined as the difference between the duration of the cargo turnover and the document flow, i.e. D trans. = T load. - T document. The size of this value depends on the specific conditions of transportation and workflow, but on average, under normal conditions, it ranges from 3 to 7 days. In case of prepayment T cargo. = T doc. and the value of the norm of the transport stock will be equal to zero, i.e. D trans. = 0.
Slide 29
D tech. - the norm of the technological reserve, due to the need to prepare already received materials for work (unloading, control, acceptance, paperwork, warehousing, laboratory analysis, etc.) On average, this value is 2 - 3 days. D tech. - the norm of the current or circulating stock, associated with ensuring the uninterrupted supply of production with material resources, subject to periodic discrete supplies of materials. The value of this stock rate depends on the frequency of delivery, its size, the production capabilities of the supplier, the capacity of wagons or other Vehicle 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, large parties are beneficial to the supplier, while the consumer does not always need it; transport organizations are concerned about the full loading of wagons, which does not always coincide with the interests of both the supplier and the consumer, etc. Therefore, the optimal size of the supply is calculated based on all of the above considerations.
slide 30
The average value of the norm of working stock is determined by the formula D current. cf. = T post. / 2 where D fear. - the norm of the insurance stock of working capital, which is created in case of unforeseen, emergency, force majeure, supply failures. Its value is equal to the time of urgent delivery of the material T post.urgent. , which corresponds to the ratio D fear. \u003d T post. urgent .. Thus, the total value of the standard of working capital can be calculated by the formula O å \u003d D å x M day. = M days. x (D tran. + D tech. + D current + D insurance.) Working capital stock ratios are calculated for the entire range of consumables and for each type separately on a quarterly and annual basis. The second component of normalized working capital is the value of work in progress WIP, which includes objects of labor in the form of unfinished products in production and their components (parts, Assembly units, sets of individual elements). The volume of WIP, as well as the standard of their stock, is difficult to calculate accurately at any given time. Therefore, the calculation is made on an enlarged basis, based on the following considerations. All materials used in production are immediately transferred to WIP. The remaining costs are transferred to WIP gradually and distributed evenly.
Slide 31
On this basis, enter into the calculation of the coefficient of increase in costs Kn.z. , equal to the ratio of the WIP value to production cost units of production C pr. and determined by the formulas K n.z. \u003d About zp / C pr.; To n.z. = g mat. x 0.5 (1 - g mat.) \u003d 0.5 x (g mat. + 1). Here g mat. - specific gravity material costs in the cost of the product, determined by the formula g mat. = Z mat. / From prod. . The value of working capital in WIP is affected by the duration of the production cycle, namely: the longer the period of production, the greater the value of work in progress WIP. The production cycle is the calendar duration of the manufacture of a product - from the beginning to the end of its production. Based on this, the size of WIP is determined for the product and for the time period - a year or a quarter. About zp. ed. \u003d (O nsp. year. / T year.) x T pr c. = About zp.d. x T ave. c. , Tpr. c. - duration of the production cycle this product in days; About zp. ed., About nsp. year, O nsp. day - the value of work in progress per item, per year and per day on average, respectively: year. \u003d (O zp.izd. / T pr.c.) x T year. = About wp. days xTyear. Depending on the condition 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 the enlarged 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 a very important indicator of the level of organization of the entire production process. The lower the proportion of work in progress, the more mobile and efficient production, 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 in time, the WIP 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 directed and implemented in the future period, and therefore they are carried out, as a rule, at the expense of a bank loan, profits and borrowed funds. In this sense, they can be defined as advanced funds. Their value can be determined in different ways, in particular, according to the formula 0 goth. + About bud. \u003d (D ready. + D bud.) x T days. Here D goth. , D bud. - the rate in days of the enterprise's need for working capital in the form of finished products and deferred expenses, respectively; T days - daily output of marketable 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 standard of working capital at the beginning and end of the planning period, as well as taking into account the input and output of funds during the year (by analogy with the calculation of the average annual fixed assets and production capacities): About a year. cf. = 0.5 (About the beginning + About the end); Oh year. cf. = About start. + About in.x n in./ 12 - About out.x n out./ 12. (7.15) Here 0 initial. , Oh con. - working capital at the beginning and end of the planning period, respectively; About cc. , 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 transitional economy with all negative sides this period - non-payments, weak loan guarantees, an unsettled market, etc. There are general and particular indicators of the use of working capital. The general ones include the number of turnovers of working capital per year n rev. and the duration of one revolution T rev. The calculation formulas are as follows: n rev. = P year. / About a year. cf. ; T rev. = D year. .cal / n rev. = 360 / n rev. Here R year. - the annual volume of sales of products. The size of these values depends on both internal and external factors.
Slide 35
The internal factors include the level of organization of production, the quality of technology and equipment, the qualifications of personnel, 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, sectors with a short production cycle are in a more advantageous position - light, processing and local industries, where the duration of the turnover does not exceed 30 - 60 days. In heavy industry, this indicator 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 of 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 situation in Ukraine has historically been exactly the opposite, which to a large extent explains the current long-term difficulties with the formation 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 estimated by the coefficients for the use of materials To isp.: To isp. = M dry / Q cons. ; Q flow = M dry + M out. Here M is dry. , Q cons. - 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 out. - the mass of waste obtained in the process of manufacturing structural elements - trimmings, chips, etc. The more perfect the technological process, the less the mass of waste and the higher the material utilization rate, which positively affects the quality of production. The level of material utilization also depends on the materials being machined - the higher the quality of the material in terms of alloying constituents, level of heat resistance, corrosion resistance, etc., the worse such materials are in processing, which leads to very low utilization rates. This factor is exacerbated by the fact that such materials are very expensive. Therefore, when designing a product, the designer and technologist must pay extremely high attention to the optimal choice of materials.
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ENTERPRISE ECONOMY Question number 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 methods of accrual
depreciation charges
5.Indicators
efficiency
fixed assets
use The fixed assets of an enterprise are
the value of the means of labor,
who transfer their value to the product
in parts, as it wears out.
The law of reproduction of fixed capital is the value of fixed capital introduced in
production, fully restored,
enabling technical
updating of means of work. Classification
Fixed assets
(structure by areas of activity)
Production
non-production
Fixed assets
(by sectors of the economy)
Industries,
Industries providing
producing
market and non-market
goods
services
Fixed assets
active part
Passive part fixed assets
1) Buildings
2) Structures
3) Transfer devices
4) Machinery and equipment
5) Vehicles
6) Tools, inventory
7) Working cattle
8) Productive livestock
9) Perennial plantations
10) Other Basic valuations of fixed assets
Residual
price
The difference between complete
initial
or full
restorative
cost and
accrued
wear and tear
Initial
cost (full)
The amount of actual
costs in
current prices
for the purchase
or creation
means of labor
Restorative
price
(full)
The amount of estimated costs for
purchase or construction
new means of labor
similar to revalued Methods of 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 through
multiplication
book value
object per index
prices set
for this group
fixed assets Average annual
price
=
fixed assets
fn
+
Fvved*Tv
12
-
Fsb*T
12Depreciation of fixed assets partial or complete loss
fixed assets of consumer properties and
costs, both during operation and during their
inaction
Wear
Physical
(loss of technical
properties and
characteristics)
Moral
(depreciation of existing
fixed assets at the expense
emergence of new
cheap and more
productive species) Depreciation of fixed assets
process
gradual
transferring the cost of the main
funds as they wear out on manufactured products,
converting it into cash 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
ON \u003d (First - L) / TA * First
NA - depreciation rate
First - initial cost
of this type of fixed assets (rub.)
T - standard service life
L - the liquidation value of this
type of fixed assets (rub.) Depreciation methods
linear
write-off method
cost
proportionately
production volume
(works)
nonlinear
way
write-off method
reducible
cost per
about the remainder
the sum of the numbers of years
useful life
use
* Accelerated depreciation - increase in deductions
by linear method Performance Scorecard
use of fixed assets
Cost
Generalizing
Indicators
natural
relative Coefficient
receipts
Coefficient
disposal
Coefficient
wear
Coefficient
validity
=
=
=
=
The cost of enrolled in
period of fixed assets
The cost of fixed assets
end of period
The cost of dropouts
period of fixed assets
The cost of fixed assets
beginning of period
The amount of depreciation of the main
funds
The full cost of the main
funds
residual value
fixed assets
The full cost of the main
funds Relative indicators
extensive
use
1. Coefficient
shifts
2. Share of non-working
equipment
3. Equipment downtime
in % to planned
time fund
4. Ratio
use
time
5. Average number of hours
equipment operation
per day
intensive
use
1. Coefficient
intensity
downloads
equipment
2. Ratio
use
power Number of working hours
Coefficient
equipment actual
extensive
=
use
Number of working hours
equipment
planned equipment
Number of worked
machine shift equipment
Coefficient
=
shifts
Quantity installed
equipment
Coefficient
intense =
use
equipment
Performance
equipment actual
technically sound
performance
equipment
Coefficient
Coefficient
Coefficient
integral = intense
extensive
X
use
use use
equipment
equipment
equipment capital intensity
return on assets
Generalizing
indicators
capital-labor ratio
return on investment return on assets
Revenues from sales
=
capital intensity =
The cost of fixed assets
The cost of fixed assets
Revenues from sales
The cost of fixed assets
Equity =
st
Average
number of employees conclusions
The main production assets of the enterprise
are the means of labor involved in many
production cycles that retain their natural
form and transferring value to the manufactured product
in parts as it wears out.
The fixed assets of a business can be
classified by type, purpose or
nature of participation in the production process.
Depending on the purpose in the production economic activity fixed assets
divided into passive and active.
To evaluate the effectiveness of the use
major
production assets apply several groups
relative,
general and natural.
indicators:
cost,
Task
*Determine the average annual cost of the OPF,
cost of OPF at the end of the year, coefficients
entry and exit according to the following data:
OPF cost on 01.01. - 86,100 thousand rubles;
received 01.03. OPF in the amount of 8200 thousand rubles;
retired due to wear 01.10. OPF in the amount of 26
400 thousand rubles; retired due to wear 01.12. OPF
in the amount of 1200 thousand rubles.
Task
**Determine the amount of depreciation deductions
linear method and decreasing method
balance, if the book value is 24,000 rubles,
depreciation rate - 20%, useful life
use - 5 years.
Task
*Define
indicators
efficiency
use of fixed assets (capital return and
capital intensity)
at
condition:
revenue
from
sales of products amounted to 10 million rubles,
the 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 assessed when credited to the balance sheet
enterprises:
a) at replacement cost;
b) at the original cost;
c) by residual value;
d) at a mixed cost.
2. The return on assets index characterizes:
a) the number of manufactured products per 1 rub. OPF;
b) the level of technical equipment of labor;
c) labor productivity.
3.
Which of the following items are included
production funds:
a) work in progress;
b) production and household inventory;
c) finished product.
V
compound
major
4. What characterizes the extensive use of the main production
funds
a) capital productivity, capital intensity;
b) shift coefficient;
c) product profitability. Test - continued:
5. Which of the listed positions does not apply to the active part of the main
funds:
a) working machines and equipment;
b) buildings and structures;
c) measuring instruments and devices;
D) computer technology;
D) vehicles.
6. The level of use of fixed production assets characterizes:
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 number 2.
WORKING ASSETS
ENTERPRISES PLAN
1.Composition
And
structure
negotiable
funds
2.Sources
formation
working capital
3.Indicators
effective
4. Rationing of working capital
Working capital is the money that goes to the formation of working capital and circulation funds.
* Working capital is cashfunds that go to
formation of working
production funds and funds
appeals
Compound
- aggregate
elements that form
working capital
enterprises
Structure
- ratio between
separate
elements
working capital,
expressed in %
Composition and structure of working capital
* Composition and structure of working capitalworking capital
100%
negotiable
production assets
70%
100%
circulation funds
30%
PRODUCTION
RESERVES
NEVER
SHENNOE
PRODUCTION
EXPENSES
FUTURE
PERIODS
READY
PRODUCT
CIA NA
WAREHOUSE
READY
PRODUCT
CIA V
WAYS
70%
25%
5%
30%
30%
100%
CASH
FACILITIES
25%
ON
ACCOUNT
RATED WORKING ASSETS
80%
DEBTOR
SKAYA
DOWN
Nnost
15%
AT THE REGISTER
UNRATED
WORKING ASSETS
20%Sources of formation
working capital
1. Own - formed at the expense of
own funds of the enterprise
(profit)
2. Borrowed - bank loans and
others commercial organizations
3. Attracted - funds of the target
funding for their use
for its intended purpose Working capital is
moving part of the logistics
enterprise bases. On the move
circulating assets make a cycle.
In each circuit they pass three
stages:
2.
Production
1.
preparatory
3.
Marketing 2.
Production
Implementation
money (new
value)
Production
Finished products
Production
3.
Marketing
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 working capital
complete a complete cycle.
about s and r
where Tz is the duration of the harvesting cycle;
Ti - the duration of the manufacturing cycle;
Tr is the duration of the implementation cycle.
or
D
about
Co.
where D is the duration of the planned period;
KO - turnover ratio
working capital. Task
Working capital ratio
enterprises 3300 thousand rubles, plan
product sales per quarter
amounted to 19.8 million rubles.
Define
coefficient
turnover and duration
one
turnover
negotiable
funds. Rationing - the establishment of economically
reasonable reserve norms and standards
working capital by elements required
for the normal operation of the enterprise.
Norm
–
relative
value,
relevant
volume
reserve
everyone
element of working capital.
The norms are set in%, in monetary terms
expression, or in days of stock 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
the amount of working capital needed
for production, or a unit of production,
or a certain amount. Norm
negotiable
funds for each
kind or homogeneous
group
materials
takes into account
time
stay in:
-
current stock,
insurance stock,
transport stock,
technological reserve. current stock. Created for
providing production with material
resources
between
two
regular
supplies.
TZ \u003d Rsut * Ip
where Rsut
average daily
consumption
material
resources (rub.)
Ip - interval between deliveries (days)
Insurance stock. Created if
violation of the delivery time of the material
associated with the supplier.
SZ \u003d Rsut * Ips * 0.5 Transport stock. Created if
delivery delay due to
transport organization. It's calculated
similar to safety stock.
TRz \u003d Rsut * Ipt * 0.5
Technological reserve. Created in
in cases where incoming material
values
Not
meet
requirements
technological process and before launching
production
pass
relevant
processing.
Tech s = (TK + SZ + TPz) * Ktech
where Kteh -
stock.
coefficient
technological Task
Determine
price
supply of material resources,
if the cost of consumption
decade (Tsdek) - 72 thousand rubles,
interval between deliveries - 8
days, safety stock - 2 days,
transport stock - 1 day,
coefficient
technological
stock - 3%. Test
1. Items of labor prepared for launch into production
process is characterized by:
a) inventories;
b) work in progress;
c) deferred expenses.
2. Which element of working capital is not standardized:
a) inventories;
b) finished products in stock;
c) accounts receivable.
3. The maximum allowable amount of spending any resource on
unit of production:
a) standard;
b) rationing;
c) norm.
4. The time during which working capital makes a full
circuit:
a) turnover ratio;
b) the rate of working capital;
c) the period of turnover of working capital.
5. The turnover ratio of working capital is determined:
a) K0 \u003d P p / O C
b) K0 \u003d O C / R p
c) K0 = Р p ∙ О С
An indispensable condition for the implementation of business activities by an enterprise is the availability of working capital ( working capital), that are essential element production, providing it with the necessary financial resources and determining the continuity of the enterprise.
In the process of production and economic activity, the enterprise needs the funds necessary for the manufacture of products, the purchase of raw materials and materials, payments wages etc., and then in the means that are required for its implementation.
Working capital is cash advanced to working capital and circulation funds. Circulating production assets ensure the continuity of the production process and represent a part of the means of production that once participates in the production process, immediately and completely transfers its value to the manufactured products and changes (raw materials) or loses (fuel) its natural-material value during the production process. shape.
Circulating production assets include: production stocks - objects of labor prepared for launch in manufacturing process. They include raw materials, basic and auxiliary materials, purchased semi-finished products and components, containers and packaging materials, goods and materials, fuel, fuel, spare parts for current repairs;
Work in progress and semi-finished products own production- objects of labor that have entered the production process: materials, parts, assemblies and products that are in the process of processing or assembly, as well as semi-finished products of their own manufacture, not completely finished by production in one workshop and subject to further processing in other workshops of the same enterprise;
The ratio between the individual elements of working capital or their constituent parts is called the structure of working capital, which depends on the industry sector of the enterprise, the nature and characteristics of the organization of production activities, the conditions of supply and marketing, settlements with consumers and suppliers and represents the share of the cost of individual elements of working capital in their total cost.
Among the sources used to form working capital, allocate own and borrowed (borrowed) funds. Own working capital is formed from equity enterprises (authorized capital, reserve capital, accumulated profit, etc.).
Own - this is the working capital that is in constant use of the enterprise. Working capital includes bank loans and accounts payable. They are provided to the enterprise for temporary use. One part is paid (credits and loans), the other is free (accounts payable).
During one production cycle, they, changing their form, go through three stages of circulation: D - T - P - T - D funds received from the sale of products, including profit from the sale
At the first stage (supply), the enterprise spends money to pay bills for the supplied objects of labor (working capital). At this stage, there is a transition of working capital from the monetary form to the commodity; as well as money from the sphere of circulation - to the sphere of production.
At the second stage (production), the acquired working capital enters production with the participation of labor tools and work force are first converted into inventories and semi-finished products, and as the production process is completed, into finished products.
Thus, working capital makes one turn, then everything repeats again: funds from the sale of products are directed to the purchase of new objects of labor, etc. The circuit is considered completed when the money for the sold products will be credited to the company's current account.
In the process of movement, working capital is simultaneously at all stages and in all forms, as a result of which the continuity and rhythm of the production process at the enterprise is achieved. The duration of working capital at each stage of the circulation is not the same and depends on the technological properties of raw materials and finished products, the duration of the production cycle, the characteristics of logistics and marketing of products.
The turnover of working capital is characterized by a number of interrelated indicators: the duration of one turnover in days, the number of revolutions for a certain period (turnover ratio), the amount of working capital employed at the enterprise per unit of output (load factor).
The duration of one turnover of working capital is calculated as follows: O = C / T / D where O - the duration of the turnover, days; C - balances of working capital (average or on a certain date), rub.; T is the volume of marketable products, rub.; D is the number of days in the period under review.
Reducing the duration of one turnover indicates an improvement in the use of working capital. The number of revolutions for the period, or the turnover ratio of working capital can be represented as: Kob \u003d T / C The higher the turnover ratio, the better the use of working capital.
The change in the turnover of working capital is revealed by comparing the actual indicators with the planned or indicators of the previous period. As a result of comparing these indicators, acceleration or deceleration of the turnover of working capital is revealed. With the acceleration of the turnover of working capital, material resources and sources of their formation are released from the turnover, with a slowdown, additional funds are involved in the turnover.
Management of the use of working capital involves the implementation of the following ways to accelerate turnover: intensification of production processes, reduction of the duration of the production cycle, elimination of various kinds of downtime and interruptions in work, reduction of the time of natural processes; economical use of raw materials and fuel and energy resources: application of rational norms for the consumption of raw materials and materials, introduction of waste-free production, search for cheaper raw materials, improvement of the system of material incentives for saving resources. All of the above measures will reduce the material consumption of products;
Improving the organization of the main production: accelerating the scientific and technical progress, introducing advanced technology and technology, improving the quality of tools, equipment and fixtures, developing standardization, unification, typification, optimizing the forms of organizing production (specialization, cooperation, rationalization of interfactory relations); improvement of the organization of auxiliary and service production: complex mechanization and automation of auxiliary and service operations (transport, storage, loading and unloading), expansion of the warehouse system, the use of automated warehouse accounting systems;
Improving work with suppliers: bringing suppliers of raw materials, materials and semi-finished products closer to consumers, reducing the interval between deliveries, speeding up workflow, using direct long-term relationships with suppliers; improvement of work with consumers of products: bringing consumers of products closer to manufacturers, improving the settlement system (dispensing products on a prepaid basis, which will reduce accounts receivable), increasing the volume of products sold due to the fulfillment of orders through direct communications, careful and timely selection and shipment of products by batches and assortment ;
The efficiency of the use of working capital depends on many factors - external, influencing regardless of the interests and activities of the enterprise, and internal, on which the enterprise can and should actively influence. TO external factors include: general economic situation, features of tax legislation, conditions for obtaining loans and interest rates on them, the possibility of targeted financing, participation in programs financed from the budget.
Given these and other factors, the company can use internal reserves to rationalize the movement of working capital. Significant reserves for increasing the efficiency of the use of working capital are laid down directly in the enterprise itself. In the sphere of production, this applies primarily to inventories, the main ways of reducing which are reduced to their rational use; elimination of excess stocks of materials; improvement of regulation; improving the organization of supply, including by establishing clear contractual terms of supply and ensuring their implementation, optimal selection of suppliers, and streamlined transport.
Reducing the time spent by working capital in work in progress is achieved by improving the organization of production, improving the equipment and technology used, improving the use of fixed assets, especially their active part, savings at all stages of the movement of working capital.
Working capital - this is the money that goes to the formation of working capital assets and circulation funds. Structure - the ratio between the individual elements of working capital, expressed in%. Composition - a set of elements that form the working capital of the enterprise.
Composition and structure of current assets Working capital Working capital assets Circulation funds Inventories Cash Cash Work in progress Expenses for future periods Finished goods en route Finished goods in stock Accounts receivable At the cash desk Standardized working capital Non-standardized working capital 100% 70%30%100% 70%25%5% 100% 30% 25% 15% 80% 20%
Sources of formation of working capital 1. Own - formed at the expense of the enterprise's own funds (profit) 2. Borrowed - loans from banks and other commercial organizations 3. Attracted - funds of targeted financing for their intended use
1. Preparatory 3. Marketing 2. Production Working capital is a moving part of the material and technical base of the enterprise. In the process of movement, working capital makes a circuit. In each circuit, they go through three stages:
Indicators of the effective use of working capital Duration of one turnover (in days) - shows how long it takes for working capital to complete a full cycle. where Tz is the duration of the harvesting cycle; T and - the duration of the manufacturing cycle; Т r is the duration of the implementation cycle. or where D is the duration of the planning period; K O - turnover ratio of working capital.
Indicators of the effective use of working capital 2. Turnover ratio - shows the number of turnovers made by working capital for the planned period. where OS is the standard of working capital; RP - the value of products sold. 3. Load factor - shows the share of the cost of working capital per unit of products sold.
Rationing - the establishment of economically justified stock standards and working capital standards for the elements necessary for the normal operation of the enterprise. Norma - relative value, corresponding to the volume of the stock of each element of working capital. The norms are set in%, in monetary terms, or in days of stock and show the amount of working capital necessary for the smooth operation of the equipment for a certain period of time. Standard - it shows a specific amount of working capital required for production, either a unit of production, or a certain volume.
current stock. Designed to provide production with material resources between two successive deliveries. ТЗ = Рsut * Ип where Рsut - average daily consumption of material resources (rub.) Ип - interval between deliveries (days) Safety stock. Created when the material delivery time violation is related to a vendor. SZ \u003d Rsut * Ips * 0.5
Transport stock. Created if the delivery time violation is associated with a transport organization. It is calculated similarly to the safety stock. TRz \u003d Rsut * Ipt * 0.5 Technological margin. It is created in cases where incoming material values do not meet the requirements of the technological process and undergo appropriate processing before being put into production. Those s = (TK + SZ + TPz) * Kteh where Kteh is the coefficient of technological reserve.
1. The objects of labor prepared for launching into the production process characterize: a) production stocks; b) work in progress; c) deferred expenses. 2. Which element of working capital is not standardized: a) inventories; b) finished products in stock; c) accounts receivable. 3. The maximum allowable amount of spending any resource per unit of output: a) standard; b) rationing; c) norm. 4. The time during which working capital makes a complete cycle: a) turnover ratio; b) the rate of working capital; c) the period of turnover of working capital. 5. The turnover ratio of working capital is determined: a) K 0 = R p / O C b) K 0 = O C / R p c) K 0 = R p O C Test
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