Evaluation of the effectiveness of the use of fixed capital of the enterprise. The fixed capital of the enterprise and the efficiency of its use in LLC "mining and industrial company". Analysis of the use of fixed assets

MINISTRY OF EDUCATION OF THE RUSSIAN FEDERATION

DON STATE TECHNICAL UNIVERSITY

DEPARTMENT OF SOCIAL AND HUMANITARIAN SCIENCES

COURSE WORK

in the discipline "Economic analysis"

Topic: "Analysis of the efficiency of the use of fixed capital."

Performed by student gr. EME 4-42 Sitnikov E.V.

Checked by the teacher Smertina E.N.

Rostov-on-Don

Introduction……………………………………………………………………………3

1. Analysis of the effectiveness of the use of fixed production assets (OPF)……………………………………………………………………………….4

2.Usage analysis technological equipment…………………..…..11

3. Reserves for increasing output, capital productivity and

return on equity…………………………………………………………..15

4. Analysis of the effectiveness of the use of intangible assets…………...17

5. Analysis of the use of the production capacity of the enterprise……..21

Conclusion…………………………………………………………………….26

List of used literature…………………………………………27

Annex 1………………………………………………………………….28

Introduction.

The market economy in the Russian Federation is at the stage of formation. In market conditions, economic entities (enterprises, firms, organizations) are the main link in the economy, since it is at the enterprise that the products and services necessary for society are created, production resources are used, and progressive equipment and technology are applied.

Formation market relations suggests competition, in which those (economic entities) who effectively use all types of available resources win. The market puts economic entities in tough economic conditions, which lead them to pursue a balanced policy to maintain and strengthen the financial condition: its solvency and financial stability.

Efficient use of all types of resources, including fixed assets, as one of the elements of material and material factors of production, contributes to the growth of capital productivity and labor productivity, increased output, reduced costs, increased profits and improved financial condition.

The state of the production potential of economic entities and financial stability are closely linked. In order to increase financial stability, an economic entity should strive to realize unused reserves for increasing the efficiency of using all factors of production. It is possible to identify and use the existing reserves for increasing the efficiency of production only on the basis of an analysis of all factors of production.

1. Analysis of the effectiveness ofuse of the main productionprivate funds (OPF)

Fixed assets occupy, as a rule, the main specific gravity in general
the amount of the company's capital stock. The final results of the enterprise's activity largely depend on their quantity, cost, technical level, efficiency of use: output, its cost, profit, profitability, financial stability.

For a generalizing characteristic of the efficiency of the use of fixed assets, profitability indicators (the ratio of profit to the average annual cost of fixed assets), capital productivity (the ratio of the cost of manufactured or sold products, after deducting VAT, excises to the average annual cost of fixed assets) are used. production assets), capital intensity (the inverse of capital productivity), specific capital investments per ruble of production growth. The relative savings of fixed assets are also calculated:

- respectively, the average annual cost of fixed production assets in the base and reporting years; IBP - index of production volume.

When calculating the average annual value of funds, not only own, but also leased fixed assets are taken into account and funds that are on conservation, reserve and leased are not included.

Particular indicators are used to characterize the use certain types machines, equipment, production area, for example, the average output per in kind per piece of equipment per shift, output per 1 m 2 of production area, etc.

In the process of analysis, the dynamics of the listed indicators, the implementation of the plan in terms of their level are studied, inter-farm comparisons are carried out.

Data sources for analysis: business plan of the enterprise, technical development plan, accounting balance sheet of the enterprise, appendix to the balance sheet, report on the availability and movement of fixed assets, balance production capacity, data on the revaluation of fixed assets, inventory cards of fixed assets, design estimates, technical documentation, etc.

The most general indicator of the effectiveness of the use of fixed assets is the return on investment. Its level depends not only on capital productivity, but also on the profitability of products. The relationship between these indicators can be represented as follows:

where R op f - the profitability of fixed assets; P - profit from the sale of products; OPF - the average annual cost of fixed assets; VP and RP - respectively, the cost of manufactured or sold products; FO - return on assets; R vp, R rp - profitability of manufactured or sold products.

The change in the level of capital productivity, in turn, is influenced by a number of factors. Factors that determine the profitability of fixed assets are shown in fig. 1.(Appendix 1)

Table data. 1 show that the actual level of profitability of fixed assets is lower than planned by 3%. To determine how it has changed due to the return on assets and the profitability of products, you can use the method of absolute differences.

Initial information for the analysis of the effectiveness of the use of fixed assets.

Indicator	Plan	Fact	Deviation
Output volume (VP), million rubles Profit from product sales, million rubles Average annual cost, million rubles: fixed production assets (OPF) of the active part of a unit of equipment (C) of production (Rvp), % Return on assets, rub.: fixed production assets of the active part Average annual number of technological equipment (K) Worked out for the year by all equipment (T), thousand hours Including a piece of equipment: hours (Ted) shifts (SM) days ( E) Shift ratio of equipment operation (Ksm) Average shift duration (P), h	96000179001271576801200,604140,818,657,5512,564240375050025027,50,400	10080019269140008400127,270,6037,819,147,2012,066226,513432470,42451,927,30,445	+4800+1396+1285+720+7,27-0,004-3,0+0,49-0,35-0,50+2-13,49-318-29,6-5,0-0,08-0,2+0,045

Change in return on equity due to:

Return on assets of fixed production assets:

;

profitability of production:

The factors of the first level that affect the return on assets of fixed production assets are the change in the share of the active part of the funds in the total amount of OPF and the change in the return on assets of the active part of the funds:

According to Table. 1 we will calculate the influence of factors
way of absolute differences:

Total -0.35 rub.

The return on assets of the active part of the funds (technological equipment) directly depends on its structure, operating time and average hourly output.

For the analysis we use the following factorial model:

The factorial model of equipment return on assets can be expanded if the operating time of a piece of equipment is presented as a product of the number of days worked (D), shift ratio (Kcm) and average shift duration (L).

The average annual cost of technological equipment is equal to the product of quantity (K) and the average cost of its unit in comparable prices (C):

The calculation of the influence of factors on the increase in capital productivity of equipment can be performed by the method of chain substitution.

Keywords

regional production functions / productive investment / efficient fixed assets / economic analysis/ regional production functions / production investments / effective fixed assets / analysis of economics

annotation scientific article on economics and business, author of scientific article - Vladimir Konstantinovich Gorbunov, Vladimir Pavlovich Krylov

Efficient production assets of a region or country are funds that actually participate in the creation of products. In accordance with the neoclassical principle of the rationality of economic agents, it is effective funds that should be taken into account in production functions that represent mathematical models of large production facilities (production associations, industries, economies of regions and countries). The presence of an adequate production function allows you to perform a deep economic analysis of the object and solve the problems of planning and forecasting. However, as a rule, researchers have access to information about balance-sheet funds, which often poorly reflect the real state of the economy. The fuzzy concept of efficient funds can be formalized and quantified within the framework of the method of production functions (PF) based on the model of V.K. Gorbunov and A.G. Lvov (2012) for constructing standard macroeconomic PF, one of the factors of which is capital, according to statistical information about productive investment. Efficient funds are evaluated together with the parameters of the PF and the main indicators of the dynamics of funds: depreciation and initial value. In this article, an additional investment feasibility ratio is introduced into the equations of dynamics, which represents the share of the real use of allocated production investments. The results of a comprehensive assessment of the parameters of the PF and effective funds for the economies of the Volga and Ural federal districts are presented using several classes of two-factor PF. As a second factor, labor and energy consumption are alternatively considered. As a result of constructing the PF of the region, macroeconomic indicators are calculated: average and marginal returns of factors, factor elasticity, marginal rate of substitution of factors and elasticity of substitution. This improves the quality of the quantitative analysis of regional economies and the objectivity of their comparison.

The text of the scientific work on the topic "Evaluation of the Efficiency of Fixed Capital of Enterprises by the Method of Production Functions"

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For citation: Economics of the region. - 2015. - No. 3. - pp. 334-347

doi 10.17059/2015-3-27 UDC 332.01; 330.14; 330.322.2; 519:254

V. K. Gorbunov, V. P. Krylov

Ulyanovsk State University(Ulyanovsk, the Russian Federation)

EVALUATION OF THE EFFICIENCY OF THE FIXED CAPITAL OF ENTERPRISES BY THE METHOD OF PRODUCTION FUNCTIONS1

Efficient production assets of a region or country are funds that actually participate in the creation of products. In accordance with the neoclassical principle of the rationality of economic agents, it is efficient funds that should be taken into account in production functions representing mathematical models of large production facilities ( production associations, industries, economies of regions and countries). The presence of an adequate production function allows you to perform a deep economic analysis of the object and solve the problems of planning and forecasting. However, as a rule, researchers have access to information on balance-sheet funds, which often poorly reflect the real state of the economy. The fuzzy concept of effective funds can be formalized and quantified within the framework of the production function method (PF) based on the model of V.K. production investment. Efficient funds are evaluated together with the PF parameters and the main indicators of the funds' dynamics: depreciation and initial value. In this article, an additional investment feasibility ratio is introduced into the dynamic equations, which represents the share of the real use of allocated production investments. The results of a comprehensive assessment of the parameters of the PF and effective funds for the economies of the Volga and Ural federal districts are presented using several classes of two-factor PF. As a second factor, labor and energy consumption are alternatively considered. As a result of constructing the PF of the region, macroeconomic indicators are calculated: average and marginal returns of factors, factor elasticities, the marginal rate of substitution of factors, and the elasticity of substitution. This improves the quality of the quantitative analysis of regional economies and the objectivity of their comparison.

Key words: regional production functions, production investment, efficient fixed assets, economic analysis

Introduction

The cost of fixed production assets (capital) is one of the main indicators regional development. However, this numerical measure of the basic concept of economic analysis and forecasting the development of complex production facilities (industry, region) is fuzzy and ambiguous due to known issues aggregation economic indicators. An indicator accessible to researchers economic development is the book value of production assets. However, this indicator poorly reflects the economic reality due to the difficulties of bringing the various components of the funds of a complex object to general prices and assessing the degree of their depreciation.

1 © Gorbunov V. K., Krylov V. P. Text. 2015.

Another disadvantage of the indicator of balance funds is their incomplete use, which is typical for a market economy and is especially characteristic for the Russian economy of the post-Soviet period. In the new reality, a significant part of the production assets is not used and is destroyed, the reporting statistics do not always correspond to the assumption of the rationality (in the legal sense) of using production factors. The reasons can be both the irrationality of the behavior of new actors (owners and managers), and the inconsistency of reporting information. true state due to various reasons, including the corrupt appropriation of part of the allocated investments, which determine the dynamics of funds, and the illegitimate reduction in the cost of their development. The problem of corruption in Russian economy begins to attract researchers to the institutional-model-

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level, and the method of production functions can make a specific contribution to this problem.

Production functions (PF) are mathematical models of fairly large production facilities, industries, regional and national economies. PF allow solving problems of economic analysis that are inaccessible to calculation methods. The main argument (production factor) of the production function is the cost of production assets (capital), and, in accordance with the neoclassical concept of production rationality, these should not be balance, but actually used funds. Accordingly, information about balance-sheet funds in many cases will be a poor basis for constructing PFs and using them quantitatively. economic analysis. The discrepancy between the available measure of book value funds - a hidden, but meaningful measure of effective funds (EF) caused skepticism regarding the PF method already at an early stage of its formation.

The problem of evaluating the EF can be solved if the production investments are known for the period of collecting statistical information about the object. Investments tend to reflect market conditions, their value is well defined, and they are sold (if rational) as efficient funds. The dynamics of the EF over the period of observation of the object depends on their initial level, actual production investments, the speed of their development, and the depreciation of embodied capital. Investment is a flow-type quantity, and capital is a stock-type quantity. In the absence of investment, production can function for some time at the expense of accumulated capital. Despite these differences, some researchers construct investment PFs that differ from traditional capital PFs by simply replacing the "capital" factor with current investment.

In the work of V. K. Gorbunov and A. G. Lvov, the development of the least squares method (LSM) for constructing stationary capital PFs in a situation where investments in production are known is proposed. At the same time, during the observation period, the dynamics of not balance, but effective funds is reconstructed. At the same time, the parameters that determine the rate of development of investments and the depreciation of funds can be evaluated. A new, more difficult task of the least squares estimation of an extended set of parameters in the general case is

ill-conditioned (ill-posed) non-linear programming problem requiring the use of effective methods optimization, as well as regularization based on meaningful additional (expert) information. To overcome computational difficulties, production functions are built in successively more complex classes, starting with the simplest Cobb-Douglas class. Estimation (reconstruction) of the dynamics of the EF over the observation period requires setting the initial value of effective funds, as well as the depreciation coefficient. Such values can be estimated by calculation methods. These methods require the use of detailed information about the economy and are quite laborious, but this work should be done in full only for the initial period.

This article develops the approach in the following respects. An additional investment feasibility ratio is introduced into the equations of capital dynamics, which represents the share of the real use of allocated production investments. As an additional means of overcoming the computational complexity of the LSM problems, the transition to index PFs is used, followed by the restoration of the function parameters in absolute forms (relative to the absolute values of the variables) . The developed method is applied for comparative analysis economies of two federal districts of Russia.

In the first section of the article, two-factor PFs are considered in absolute and - briefly - in index forms. The characteristics of production derived from production functions are given, as well as the PF classes used in the calculations are presented. The second section sets out the problem of constructing capital PFs with the reconstruction of efficient funds based on information about investments. In the third one, the results of solving this problem for the statistical data of the Volga and Ural federal districts are presented and discussed. As a second factor, labor and energy consumption are alternatively considered. The fourth section is conclusions.

1. Production functions in absolute and index forms

Production functions are mathematical models of the objects under study such as a black box, representing the dependence of output on the costs of production factors in pre-

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laying down their rational use. Production functions describe a complex object in a simplified way on the basis of identifying its most significant (for a specific study) cost indicators that have quantitative measures, and establishing a specific functional relationship that, by assumption, exists between costs and output.

Consider stationary two-factor capital PFs of various parametric classes

Y _ F (K, L; w), (1)

where the gross output of the simulated production facility Y for the reporting unit of time (usually a year) is determined by the level of use of effective funds (effective capital) K and labor L, the variable w _ (wp ..., wp) represents the vector of parameters of the corresponding PF class, selected from some sets No. c Rp of the parameter space of a given class of functions. Instead of labor, the indicator of production energy use E is also (alternatively) used. This replacement is significant only in specific calculations.

When considering theoretical issues, the dependence of the PF on the parameters is not distinguished: Y _ F (K, L). Record (1) assumes that the main variables (Y, K, L) have dimensions: gross output Y and funds K are measured by cost, and labor costs L are measured by cost, time or number. Functions with meaningfully measured variables (1) will be called given in absolute form. To overcome the computational problems of constructing the PF according to production statistics, production functions in index form are also used, that is, functions similar in structure, but relative to the indices of the corresponding indicators, that is, the ratios of the values of the variables (Y, K, L) to their base values (Y0, K0 , L0):

and _-, k_-, X _ -

The index function F(k, X; w) is related to the absolute F(K, L; w) by the equality F(K, L; w) = Y0F(k, X; w). The relationship between the parameters of the absolute and index forms w and w is established by a structural analysis of this equality for specific classes of functions. The index form is investigated in connection with the criticism of the PF method regarding "incorrectness", from the point of view of

In accordance with modern ideas about the rationality of production, the production function F(K, L) must be monotonically increasing and quasi-concave in the economic region of the space of factors (K, L). The quasi-concavity of the function F(K, L) means that the upper sets of its levels (K > 0, L > 0: F(K, L) > c) must be convex sets of the factor space.

production function in absolute form F(K, L) makes it possible to calculate fundamentally observable characteristics of production: average efficiency of factors Y/K and Y/L, marginal efficiency dF(K, L) / dK and dF(K, L) /dL, their ratios are factorial elasticities

e dF(K, L): Y _d log F(K, L)

S K \u003d dK "K \u003d d ln K '

DF(K, L): Y _ d ln F(K, L) e L dL ■ L d ln K " c)

The sum of factorial elasticities цKL _ eK + + eL is the elasticity of production to scale.

In terms of percentages, factor elasticities indicate by what percentage (approximately) output would increase if the use of the corresponding factor increased by 1%. The elasticity of production shows that with an increase in all factors by 1%, output will increase by approximately |aKL%

The production function also allows you to calculate deeper characteristics of the factor substitution process, which maintains the level of output:

The marginal rate of substitution (BRS) of labor by capital

dF (K, L) dF (K, L) dL " dK

Elasticity of substitution of labor by capital

F(K, L) _ const.

The value of PV (4) shows by what percentage it is necessary to increase or decrease the use of capital K with a decrease or increase in the used labor L by 1%. The elasticity of substitution (5) represents the relationship between the capital-labor ratio K/L and the marginal rate of substitution, showing how much

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cents, the capital-labor ratio changes with a change in the ERP by 1%.

Implicit characteristics of the PF, which can supplement the analysis of the adequacy of the PF to real objects, are the functions of factor demand, supply, profit and costs, determined by the tasks of rational production - profit maximization or cost minimization.

1. Cobb-Douglas function (CD):

with restrictions on the parameters w = (A, a, c) > 0. This function is positively homogeneous to the degree q = a + b, which also represents the elasticity with respect to the scale of costs. It is known that the degrees a and b represent the factorial elasticities of production (3), and the elasticity of substitution (5) is equal to cm = 1. These indicators do not depend on the quantities of factors used, and the functions of KD can be called functions of constant factorial elasticities.

2. Function of constant elasticity of substitution (PES)

A (vK-p + (1 -v) £-p)-c/p (7)

with restrictions (A, c) > 0, -1< р ф 0, 0 < v < 1. Эта функция положительно однородная степени ц (эластичность производства). Ее эластичность замещения не зависит от количеств используемых факторов и равна ст = 1 / (1 + р). В пределе р ^ 0 функция ПЭЗ (7) переходит в функцию КД (6).

3. Solow function:

A (vK a+(1 -v) LP)T, 0

There are no general restrictions on the parameters of the Solow function that ensure its growth and quasi-concavity. In the practical evaluation of the parameters of function (8), these properties should be controlled by constructing isoquants. This function is also non-uniform. When a = in< 1 эта функция относится к классу ПЭЗ (7), где р = -а, ц = ау.

It is useful to use the sequence of the above and other functions in the procedure of gradual complication of the class of functions when they are built according to production statistics, passing the values of the estimated parameters to form the initial approximation of the parameters of a more complex class.

If we confine ourselves to the index form of the PF, as in the work, then only constants can be determined from the above characteristics

factorial elasticities (3) using the KD function (6), as well as the substitution elasticity (5) and the scale elasticity q using the PES function (7).

2. The problem of constructing a PF with the reconstruction of effective funds

The statistics of industrial sectors and regions of recent years usually contain data on output Yt, on allocated (reported) production investments It and on labor costs L t:

(Y, It, L: t = 0, T). (9)

In the works mentioned above and the works of other authors, investment functions are introduced, where instead of capital K, investments I or the corresponding indices are used:

Y = F(I, L; w). (10)

Due to the fact that the process of accumulation and depreciation of capital is not taken into account, it is difficult to expect sufficient adequacy of investment PF (10) to economic reality, therefore, they are not considered further as a tool for economic analysis.

In the general case, it takes time to master the actual investments, and their capitalization occurs over several observation periods. We will assume that capital growth is determined by the actual investments of the current and previous periods in a certain proportion. This is sufficient to describe the dynamics of capital in the absence of significant capital construction. The share of actual investments mastered in the current period will be denoted as О e . Accumulated capital is subject to depreciation. We accept the usual simplifying assumption about the constancy of the depreciation rate, denoting it so.

To take into account the factor of appropriation of investments and its expert evaluation, we introduce the coefficient of investment realizability r e (0, 1], representing the share of the real use of investments It allocated for the restoration and development of funds. Accordingly, real investments are represented by the value rI , and part (1 - r) It is assigned by corrupt officials and unscrupulous performers of work.Under the assumptions made, the equation for the dynamics of the EF has the form:

Kt =(1 -m)Kt-i+r[^ +(1 -ОIt-i], t = IT. (11)

To determine the values (K1, ..., KT), you should set the initial value of the effective ka-

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fed K0. Now the dynamics of capital is determined, in addition to the values of formal investments (I0, ..., IT) known over the observation period, also unknown ones - by the initial capital K0, the depreciation rate m and the coefficients of realizability of investments r and their development - %. Accordingly, the values (K, ..., KT) are functions of new parameters (K0, m, r, %), and the list of estimated parameters is expanded to a vector:

z = (w,...,wp, Ko, m, r, %). (12)

Let us introduce the quadratic discrepancy function of the system of approximate equalities of statistical and calculated values of outputs Yt and F(Kt, L; w) on data (9) and simulated values of indicators of effective funds (11):

j(z) = L x - F (K, L; W)]2. az)

The task of estimating the parameters w of the capital PF (1) and the dynamics of effective capital (11) according to the data (9) is to minimize the functional (13) under condition (11) and restrictions on the parameters (12):

w e W, K0 > 0, 0< m < 1, 0 < r < 1, 0 < % < 1. (14)

Expanding the list of parameters of the fund dynamics model (11) complicates the task, but makes it more adequate to the problem of production modeling and allows estimating the actually used capital (effective funds) (К, ..., Кт) taking into account new factors ".

Estimates of the parameters K0, m, r, %, as well as the corresponding capital values (K, ..., Km), will depend on the choice of the parametrization class P(K, L; w). The final class of functions will be determined by the achieved best quality of approximation of equality (1) on data (9).

It is easy to see that the recoverable values of capital (11) at m = r = % = 1 take the investment values It, and the capital function (1) coincides with the investment function (10) on the statistical data (9). This means that the capital and investment functions are identical, if the introduced funds work for one period (m = 1), there is no corruption

1 A similar task of a comprehensive assessment of the parameters of the PF and the parameters of the dynamics of funds is mentioned in. In this work, the main problem is modeling the non-stationary process of depreciation of funds at enterprises of the same type using the panel data method.

(r = 1) and investments are assimilated in one period (% = 1). Accordingly, the problem of constructing investment PF (10) according to data (9) is a special case of a new problem of complex estimation of economic dynamics.

Due to the nonlinearity of the complex estimation problem and the typical “smallness” of the number of observations of production facilities in the framework of the stationary theory, the set of standard econometric criteria for the quality of constructing the PF is small. We consider the main criterion to be the least squares measure of approximation of observed outputs (Yt) by model outputs [P(Kr, L; w)), that is, functional (13). As additional statistical criteria, we use the coefficient of determination R2 and the Durbin-Watson test for detecting the autocorrelation of regression residuals rt = Yt- .P(Kr, L; w) corresponding to the estimated parameters w. According to this criterion, it is required to calculate the value

DW \u003d f (rt - P _!) 2 / f2.

Possible values of the DW coefficient are in the range from 0 to 4. If there is no autocorrelation of the residuals, then DW and 2.

The described problem of complex estimation of the parameters of the capital production function (1) and EF dynamics (11) is highly non-linear and may turn out to be computationally ill-conditioned even for the simplest class of Cobb-Douglas functions. In this case, almost the same level of the minimum discrepancy j(z) can be achieved with various combinations of the set of parameters (12). Here we confine ourselves to pointing out the expediency (or necessity) of switching to index variables (2). In this case, the equation of dynamics (11) is divided by the value K0 (the estimated parameter of the problem) and investment indices are introduced - the share of annual investments relative to the initial assessment of production assets 1/K0. The index variables (k, X, u), in contrast to the absolute ones (K, L, Y), have the same order of values (about one), which greatly simplifies the search for the minimum of the functional (13) under conditions (11) and (14). In this case, as in the work , the success of solving this strongly nonlinear problem is achieved due to a special modification of the continuation method (§ 11.3 in ).

To regularize the problem of complex estimation of the parameters of the PF and the dynamics of funds, it is necessary to involve expert information on economically meaningful

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parameters - initial effective funds K0, depreciation t, investment feasibility ratio r, investment development parameter £,. The expert values of these parameters (K0xp, mexp, rexp, £, exp) can be refined when solving the problem.

3. Analysis of the economies of the Volga and Ural federal districts

The above method for constructing capital PF with the evaluation of effective funds based on information on investments is applied to data on the economies of the Volga and Ural Federal Districts (VFD and UFD) for the period 2000-2012. from the statistical collections "Regions of Russia: Social and Economic Indicators" (for 2010-2014), available on the websites of the Federal State Statistics Service. About 30 million people live in the Volga Federal District, and about 12 million people live in the Ural Federal District.

However, they are comparable in terms of gross regional product (GRP). This is explained by the fact that the Urals District includes the main oil and gas provinces of Russia (Tyumen and Khanty-Mansiysk), and this, taking into account oil and gas rent, which increased sharply in this period due to external conditions, predetermined the high cost of its GRP and other economic advantages.

Table 1 presents the statistics of annual indicators for the Volga Federal District and Ural Federal District: GRP Yt (for year t), fixed assets at full book value K ((at the end of year t), investments in fixed assets I, commissioning of new fixed assets K "V (all in billion rubles), depreciation coefficients of fixed assets, residual book value of funds K, number of employees on average per year according to sample surveys of the population on employment problems Lt (thousand people), production consumption

Table 1

Initial data, book value of funds and production electricity consumption

Year t k( kV Ht Kb Lt

2000 1037 3570 207 - 0,466 1907 14243 133820

2001 1293 4255 268 - 0,473 2242 14225 134929

2002 1483 5137 295 - 0,526 2435 14457 136223

2003 1808 6047 351 - 0,486 3108 14280 137808

2004 2285 6439 464 322 0,482 3335 14378 139376

2005 2799 7462 609 437 0,494 3776 14537 138823

2006 3513 8457 784 548 0,502 4211 14734 146792

2007 4330 10204 1148 697 0,495 5153 14888 158671

2008 5324 11864 1485 888 0,495 5991 14835 156292

2009 4923 13203 1279 917 0,505 6535 14531 140534

2010 5709 14793 1437 966 0,521 7086 14664 143535

2011 6988 17166 1703 1255 0,527 8120 14801 151642

2012 7911 17907 2013 1311 0,531 8398 14883 155343

2000 866 2495 251 - 0,407 1481 5720 106132

2001 1121 3845 331 - 0,458 2085 5642 108444

2002 1336 5070 383 - 0,481 2633 5734 108456

2003 1659 5812 446 - 0,476 3048 5975 115231

2004 2235 6267 534 367 0,481 3250 5939 122387

2005 3091 7936 593 476 0,492 4028 6019 129491

2006 3721 9209 801 531 0,510 4511 6037 142396

2007 4236 10955 1113 737 0,522 5232 6123 145186

2008 4816 13270 1483 978 0,524 6314 6222 152048

2009 4360 14527 1338 1001 0,521 6952 5988 145375

2010 5119 16840 1493 1200 0,528 7947 6005 154953

2011 6270 19435 1838 1655 0,563 8485 6102 157260

2012 7091 22295 2038 1887 0,534 10389 6159 158225

Source: Data of the Federal State Statistics Service - http://www.gks.ru/wps/wcm/connect/rosstat_ main/rosstat/ru/statistics/^aTa accessed: 09.02.2015); collections "Regions of Russia" for 2010-2014; http://cbsd.gks.ru/# (date of access: 09.02.2015)).

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energy Et (million kWh). From these indicators, the book value of the funds is calculated using the formula Kbt = (1 - c) Kf, and the production energy consumption is defined as the difference between the statistical indicators "total electricity consumption" and "electricity consumption by the population and losses of electricity in the power grids".

Analysis of Table 1 shows that the economy of the Volga Federal District exceeded the economy of the Ural Federal District in terms of GRP in 2000 by 19.7% and by 2012 by 11.5%. At the same time, the ratio of the values of the balance funds of the Volga region and the Urals was 1.28 in 2000 and 0.81 in 2012, that is, the outstripping growth of balance funds was observed in the Ural Federal District. Higher GRP values in the Volga Federal District correspond to significantly higher labor costs, which over the entire period in the Volga region exceeded the costs in the Urals region by about 2.5 times, which corresponds to the size of their population. The outpacing growth of funds in the Urals District is explained by large investments in fixed assets.

However, the tabular dynamics of balance-sheet funds (column Ktb) does not agree well with the dynamics of funds commissioning (column KV). If we calculate the values of annual increments K^ - Kb, then they will differ significantly (not explained by inflation and depreciation) and irregularly (sometimes more, sometimes less) from the indicators of commissioning of funds K. This confirms the imperfection (perhaps unremovable) of the indicator of balance funds, noted by the authors.

The data in Table 1 also show significantly lower values of new funds commissioning compared to investments in funds for both regions. Considering that industrial investments in Russia are mainly reduced to the purchase of foreign equipment and the construction of roads, we can neglect the development lag and give some estimate of the investment implementation parameter r by comparing the total values of investments and introduced funds for the same period 2004-2012. For the Volga region, we obtain the value r = 7341: 10922 = 0.672, and for the Urals district r = 8832: 11231 = 0.786. This demonstrates a higher relative level of corruption in the less resource-rich Volga Federal District.

Thus, a direct analysis of the data on the economies of the Volga region and the Urals demonstrates the qualitative superiority of the Urals economy. This, of course, is explained by the fact that the liberal integration of the Russian economy into the world market

at much higher than the world market leaders, climatic and transport costs, as well as an unprecedentedly high rental income on raw material exports in the period under review, predetermined the depression of the agricultural and processing economies, which include the Volga region to a greater extent, and, on the contrary, the extensive development of raw materials economies , which mainly includes the Urals, after the deindustrialization of the 90s. All this is a demonstration of the so-called Dutch disease, that is, the depression of the main part of the sectors of material production and agriculture with super-high profits in the extraction of oil and gas resources, which (super-high profits) took place in Russia until mid-2014.

The construction of production functions in absolute form based on the data in Table 1 makes it possible to deepen the analysis of economic data. Production functions determine the content characteristics of production, given in the first section: average and marginal factor productivity, factor elasticity (3), marginal rate of substitution of factors (4) and elasticity of substitution (5).

We use two types of two-factor PFs with factors "capital-labor" F(K, L; w) and "capital-energy" F(K, E; w). The latter are distinguished by the replacement of the factor L by the production energy consumption E, and the use of statistics (Yt, I, Et) instead of statistics (9). This, in addition to expanding the set of studied factors, makes it possible to increase the objectivity of the main problem of this article - the assessment of effective production assets.

To build the PF using our method, it is necessary to bring the cost indicators of Table 1 - GRP Yt and investments It - to uniform prices. Table 2 presents data on annual indexes of Yt and It indicators and their values in 2000 prices (billion rubles).

The problem of complex estimation of the full set of parameters (12) is ill-conditioned, so we fixed the economic parameters (m, r, Q, giving them conditional expert values. There are all-Russian data on the depreciation of fixed assets from 2005 to 2012, and the depreciation coefficients mainly increase in this interval from the value m2005 = 0.047 to m2012 = 0.065|'. These data

1 According to http://www.gks.ru/wps/wcm/connect/rosstat_main/rosstat/ru/statistics/enterprise/fund/ (date of access:

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Annual indices and values in 2000 prices of GRP and investments

table 2

Year t VFD UFD

Y / Y g ±t-1 Yt 1 / 1-1 1 Y / Y t" 1t-1 Yt 1 / 1-1 1

2000 1037 207 866 251

2001 1,069 1108 1,137 235 1,089 943 1,202 301

2002 1,026 1137 0,992 233 1,042 983 1,019 307

2003 1,069 1216 1,042 243 1,084 1065 1,054 324

2004 1,058 1286 1,138 277 1,067 1137 1,057 342

2005 1,045 1344 1,147 317 1,102 1253 0,947 324

2006 1,079 1450 1,147 364 1,075 1347 1,198 388

2007 1,091 1582 1,261 459 1,055 1421 1,210 470

2008 1,052 1664 1,079 495 1,034 1469 1,116 524

2009 0,925 1540 0,835 413 0,920 1352 0,896 470

2010 1,055 1624 1,081 447 1,068 1443 1,091 512

2011 1,068 1735 1,101 492 1,046 1510 1,142 585

2012 1,041 1806 1,095 539 1,015 1532 1,064 623

2012 / 2000 - 1,74 - 2,57 - 1,77 - 2,45

Source: data of the Federal State Statistics Service - http://www.gks.ru/wps/wcm/connect/rosstat_main/ rosstat/ru/statistics/^aTa accessed: 02/09/2015), and collections "Regions of Russia" for 2010- 2014

can be taken as guidelines for expert evaluation of the parameter m for the objects under study. Taking into account the higher economic development indicators of the Urals, we have assigned depreciation rates for the Volga Federal District m = 0.055 and for the Ural Federal District m = 0.075.

The above estimates of the investment implementation coefficients - for the Volga region r = 0.67 and for the Urals r = 0.79 - lead to too large (several times) excess of the final values of effective funds KT relative to their initial estimate K0, which does not correspond to reality. These coefficients were selected by variant calculations so as to approximately provide the specified values of the KT / K0 ratios. For the Volga Federal District, this ratio is defined (conditionally) at 1.7 (growth by 70%) and for the Ural Federal District, taking into account large investments and their smaller “disappearance”, at 2.4 (growth by 140%). These conditions were approximately provided by investment feasibility ratios r = 0.4 for the Volga region, and r = 0.45 for the Urals. The coefficient of temporary development is taken for both districts equal to % = 0.9, which corresponds to a low level of capital construction.

As noted, the problem was solved in two versions of modeling by production functions: capital-labor (PFKT) F(K, L; w) and capital-energy (PFKE) F(K, E; w) classes of KD (6), PES (7 ), Solow (8). All calculations are implemented in the Mathematica software system.

At the same time, the data of tables 1 and 2 used in the calculations are reduced to large scales: CDF (Y and investments (I) - in trillion rubles, number of employees (Lt) - in ml people, energy (Et) - in billion kW -h.

In both cases, the computational complexity of the nonlinear and ill-conditioned problems of estimating the parameters of the PES and Solow functions is reduced by successively passing from the KD function to the PES function and then to the Solow function. At the same time, the simply estimated parameters of the KD function (A, a, c) (solution of a system of three linear equations) determine a good initial approximation of the nonlinear problem of estimating the parameters of the PES: A0 = A, u0 = a + b, V0 = a / u0, p0 is small non-zero number. The obtained estimates of the parameters of the SEZ (A, u, v, p) determine a good initial approximation of the Solow parameters:

In all cases, it was possible to obtain stable estimates of the parameters of the functions of the most flexible Solow class, under which the best approximation of the statistical values of GRP |Yt) (Table 2) by the calculated values of the functions |F(K, L; w)) and |F(K, E; w)) with respect to the discrepancy index (13).

For the PPO in the PPCT variant, the values of the criteria j(z) = 0.0017, R2 = 0.97, DW = 1.4 are achieved and the production function is constructed

Y = 6.79 10-6 (0.114K-°-00295 + 0.8 8 5 L0-00298 Y™ . (15)

The estimate of the initial effective capital in this variant is K0 = 1.141 trillion rubles.

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Indicators of the economy of the Volga Federal District

Table 3

PFCT 2000 2012 increase, % PFFI 2000 2012 increase %

Y/K 0.909 0.909 0.0 Y/K 0.942 0.918 -2.5

Y/L 0.073 0.121 65.8 Y/E 0.008 0.012 50.0

dY/dK 0.558 0.537 -3.8 dY/dK 0.632 0.593 -6.2

dY/dL 0.348 0.558 60.3 dY/dE 0.009 0.012 33.3

SK 0.614 0.591 -3.7 eK 0.671 0.646 -3.7

eL 4.775 4.599 -3.7 SE 1.103 1.062 -3.7

Vkl 5.389 5.190 -3.7 Rke 1.774 1.708 -3.7

SLK 0.623 1.039 66.8 SEK 0.014 0.021 50.0

a 0.997 0.997 0 a 0.999 0.999 0

In the PFKE variant for PPO, the criteria j(z) = 0.0016, R2 = 0.97, DW = 0.61 are achieved and the production function is constructed

Y = 0.00675(0.382K~0.000864 + 0.617E^000882)-189°. (sixteen)

Evaluation of the initial effective capital K0 = 1.101 trillion rubles.

When solving the problems of complex estimation of the parameters of the PF and the initial effective capital K0, the subsequent values of the EF (Kr..., KT) are also calculated using the equations of the dynamics of funds (11). The obtained estimates of the effective funds of the Volga Federal District (in billion rubles) are given together with the estimates of the EF for the Ural Federal District in Table. 7.

According to the Durbin-Watson test, the TFCT-type function is more consistent with the assumption of independence of the regression residuals (rt). We note that in both cases the parameter estimates for each function a and p are very close. This means that the constructed Solow functions are similar to the PES functions with parameters p = -(a + P) / 2 and p = -ur.

To assess the accuracy of modeling, it is of interest to analyze the differences between the same type of indicators of the PFKT and PFKE models. From the given parameters, this is the initial effective capital K0, for which the values \u200b\u200bof (billion rubles) 1141 and 1101 are obtained. Let us define the relative discrepancy of this indicator as the ratio of the absolute values of their differences and the arithmetic mean ". In percentage terms, the discrepancy between the values of 1141 and 1101 is 3.6% .

Using functions (15) and (16), using EF estimates (Table 7) converted into trillion rubles, we calculated the indicators of the economy of the Volga region for the initial (2000) and final (2012) periods. They are shown in table 3.

1 For two values A1 and A2, this is the value S(%) = 200|A1 - L2| / / (А1 + А2).

Table 4

Discrepancies in PFD indicators (%)

Year Indicator

2000 3,6 12,4 8,9

2012 1,0 9,9 8,9

This table contains the same type of indicators obtained in two ways - PFCT and PFKE. These are the average Y/K and the marginal dY/dK return on assets, as well as the stock elasticity of output eK for boundary periods. The corresponding discrepancies are summarized in Table 4. The largest discrepancy - 12.4% - manifested itself in the assessment of the marginal return on assets in 2000. This value gives an idea of the accuracy of other estimates.

The above characteristics show a slight decrease in the average and marginal return on assets, a noticeable increase in average and marginal labor productivity and energy efficiency. Factor and scale elasticities decreased somewhat, while the marginal rates of substitution of labor and energy by capital increased significantly. The scale elasticity of the factors (K, L), i.e., cK1, significantly exceeds the scale elasticity of the factors (K, E), i.e., cKE.

The almost coincidence of the power parameters a and p in both cases indicates the almost constancy of the corresponding substitution elasticities close to unity, which corresponds to the CD function. However, the use of a more flexible inhomogeneous Solow function refines and reveals the dynamics of the factorial elasticities eK, eL, eE and the production and uF elasticities.

For the Ural Federal District, the best values in terms of residual j(z), coefficients R2 and DW were obtained in both variants also for the Solow function. In the first variant of the PPCT, the criteria values j(z) = 0.0020, R2 = 0.96, DW = 1.39 were achieved and the production function was constructed

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Economic indicators of the Ural Federal District

Table 5

TFCT 2000 2012 growth % TFCI 2000 2012 growth %

Y/K 1.099 0.777 -29.3 Y/K 1.005 0.766 -23.8

Y/L 0.151 0.249 64.9 Y/E 0.008 0.010 25.0

dY/dK 0.436 0.306 -29.8 dY/dK 0.123 0.088 -28.5

dY/dL 0.475 0.779 64.0 dY/dE 0.009 0.010 11.1

eK 0.397 0.394 -0.8 eK 0.123 0.115 -6.5

SL 3.141 3.131 -0.3 SE 1.102 1.028 -6.7

Vkl 3.538 3.525 -0.4 Vke 1.225 1.143 -6.7

SLK 1.090 2.541 133.1 SEK 0.073 0.113 54.8

a 0.996 0.996 0 a 1.005 1.005 0

Y = 0.0054 (0.111KH1'00366 + 0.888L0.00366) -919 . (17)

The estimate of the initial effective capital in this variant is K0 = 0.788 trillion rubles.

In the PFKE variant for UVI, the criteria j(z) = 0.0015, R2 = 0.97, DW = 0.73 are achieved and the production function is constructed

Y = 0.00835(0.106K0-00459 + 0.894£0-00478)237. (eighteen)

Evaluation of the initial effective capital K0 = 0.862 trillion rubles. The discrepancy between the initial values of this indicator for the variants of PFCT (788) and PFKE (862) is 9.0%.

The obtained estimates of effective funds of the Ural Federal District (Kr..., Kg) (in billion rubles) are given together with the EF estimates for the Volga Federal District in Table 7. The economic indicators of the Ural Federal District for the initial (2000) and final (2012) periods are given in table 5.

The discrepancies between the corresponding indicators in Table 5 are summarized in Table 6. Here, the accuracy

Table 6

Discrepancies in indicators of the Ural Federal District (%)

Year Indicator

2000 8,9 112,0 105,4

2012 1,4 110,7 109,6

estimates of the marginal return on assets and the stock elasticity of output are noticeably worse than similar indicators for the Volga Federal District (Table 4).

The nature of changes in economic indicators in the Urals Federal District generally repeats the nature of their changes in the Volga Federal District (Table 3). However, there is a significantly greater decrease in the average and marginal return on assets (more than 20%) and a twice as large increase in the marginal rate of substitution of labor by capital (133.1% versus 66.8% in the Volga region). This is explained by a significantly higher labor productivity in the Urals Federal District (approximately twice as high in terms of the average Y/L indicator) and

Efficient funds (billion rubles)

Table 7

Year Volga Federal District UrFD

(K, L) (K, E) S (%) K (K, L) (K, E) S (%) K

2000 1141 1101 3,6 1121 788 862 9,0 825

2001 1171 1133 3,3 1152 862 931 7,7 896

2002 1200 1164 3,0 1182 935 999 6,6 967

2003 1230 1197 2,7 1213 1010 1069 5,7 1039

2004 1272 1241 2,5 1256 1087 1142 4,9 1114

2005 1327 1298 2,2 1312 1152 1203 4,3 1177

2006 1398 1370 2,0 1384 1238 1284 3,6 1261

2007 1501 1475 1,7 1488 1353 1396 3,1 1374

2008 1615 1590 1,6 1602 1485 1524 2,6 1504

2009 1695 1671 1,4 1683 1587 1624 2,3 1605

2010 1779 1757 1,2 1768 1697 1731 2,0 1714

2011 1876 1855 1,1 1865 1829 1861 1,7 1845

2012 1987 1967 1,0 1977 1971 2000 1,5 1985

Growth, % 74 79 - 76 150 132 - 141

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significant decline in capital productivity. Higher labor productivity in the Ural Federal District is explained by higher rates of capital-labor ratio and energy-to-labor ratio. Thus, in 2012 for the Ural Federal District capital-labor ratio K/L was 322 thousand rubles per employee and power-to-weight ratio E/L was 25.7 thousand kWh per employee. These figures for the Volga Federal District were, respectively, 133 thousand rubles. and 10.4 thousand kWh.

A comparison of the indicators of the economies of the Volga Federal District and the Ural Federal District also reveals a significant difference in the effectiveness of alternative (relative to models) factors. For both economies, the average and marginal labor productivity, as well as the labor elasticity of output eL, revealed by the PFCT model are significantly higher than the corresponding indicators for energy, revealed by the PFKE model. At the same time, the return to scale cKL in the Volga Federal District is approximately equal to 5, and in the Ural Federal District it exceeds 3, while the return to scale of the cKL in the Volga Federal District is less than two, and in the Ural Federal District it is slightly more than one. This difference indicates a significantly greater importance for the economies of the Volga region and the Urals of the “labor” factor relative to the “energy” factor.

Table 7 shows the estimates of the EF of the Volga and Urals (billion rubles), obtained in two versions of production factors - "capital-labor" (K, L) and "capital-energy" (K, E). It also shows the values of 8 discrepancies (in percent) of these indicators, calculated similarly to the values of tables 4 and 6, as well as their average (compromise) values K. The largest discrepancy of 9% can be considered acceptable for estimating the important value of effective funds, which is not estimated by calculation methods .

The growth rate of the EF of the Urals in this period (141%) was significantly higher than in the Volga region (76%). This corresponded to the high profitability of oil production, determined by the world market conditions, and, as a result, a large increase in oil production over this period (total growth in Russia from 347 million tons in 2001 to 518 million tons in 2012, i.e. by 49%) .

We have demonstrated new possibilities of the production function method in the quantitative economic analysis of large production facilities on the example of the economies of two federal districts of Russia. The novelty lies in a more adequate concept of the main production factor - capital as "effective capital", or

"effective funds", that is, the cost of that part of the available production assets that actually participates in the production of products during the period of observation of the object (collection of production information). This concept is idealized and not directly observable (what part of production facilities is active at partial load?), but it is natural for the very concept of production functions based on the principle of rational behavior of economic entities (owners, managers, administration). In our view, the number of effective funds is formed from investments over the period of observation of the object, taking into account their depreciation and feasibility, as well as estimates of the initial EF. The latter is obtained by solving the problem of complex estimation of the parameters of the dynamic model for the formation of effective funds (11).

The obtained estimates of effective funds simultaneously with the construction of regional PFs allow us to calculate the main economic indicators: average and marginal return on assets, labor productivity, factor elasticity, marginal rate of substitution of labor by capital, and elasticity of substitution. We note that the limiting characteristics and elasticity without constructing production functions can only be roughly estimated under strict requirements for production statistics. In turn, capital PF, as a rule, cannot be built on standard production information that represents balance-sheet funds, often not reflecting economic reality. The model for a comprehensive assessment of the parameters of the PF and the dynamics of funds based on investment information largely overcomes this problem. This model is much more complicated than the standard methodology for constructing a PF under idealized conditions, when balance-sheet funds represented by statistics are efficient. Here, additional information is required to overcome the bad conditionality typical for problems of identification of non-trivial mathematical models of reality. At this stage, we entered conditionally expert information on capital depreciation and the level of realizability of reporting investments. To increase the adequacy of the results of calculations by the proposed method, it is necessary to involve professional experts and further develop the regularization method for a new class of economic analysis problems. We assumed

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We would like to devote a special article to computational problems and regularization of this problem.

Regarding the meaningful results of the analysis of the economies of the Volga Federal District and the Ural Federal District, it should be noted that in the changed conditions of a sharp drop (by about half) in prices for oil and gas resources, they are of a retrospective nature and should not be used for forecasting. The advantages of the economy of the Urals Federal District, which includes the main oil and gas provinces of Russia, noted above, are significantly weakened at present and in the foreseeable future. It is natural to assume that in order to maintain the high economic significance and prospects of this region of Russia, investment policy should be reoriented towards restoring the largely lost

the degree of potential of the processing and engineering industries. This, apparently, will be hindered by the desire of the actual owners to increase the level of extraction and export of cheaper resources, which are still more profitable than highly processed products. The solution of the relevant strategic problems is beyond the scope of our study, and we confine ourselves to the remark that in order to overcome the well-known defect of the market economy - "myopia" - it will be useful to develop mathematical models of economic dynamics that use the apparatus of production functions, the main factor of which is efficient funds. Such models will improve the objectivity of the analysis of alternative economic policy options.

Gratitude

The study was supported by the Russian Foundation for Basic Research, project No. 12-01-97029. The results were presented at the VI All-Russian Symposium on Economic Theory. Section 3.1.

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Gorbunov Vladimir Konstantinovich - Doctor of Physical and Mathematical Sciences, Professor, Leading Researcher, Ulyanovsk State University (Russian Federation, 432031, Ulyanovsk, Zarechnaya St., 27, apt. 104; e-mail: [email protected]).

Krylov Vladimir Pavlovich - research engineer, Ulyanovsk State University (Russian Federation, 432017, Ulyanovsk, L. Tolstoy st., 42; e-mail: [email protected]).

For citation: Ekonomika regiona. - 2015. - No. 3. - pp. 334-347

V. K. Gorbunov, V. P. Krylov

Region Effective Production Assets and Their Assessment By The Production Function Method

Effective production assets of region or country are the assets that really commit in production development. According to the neoclassical rationality principle of economic agents, the effective assets have to be considered in the production functions representing the mathematical models of large production facilities (production associations, sectors, economies of regions and countries). Existence of adequate production function allows making the deep economic analysis of facility and solving planning and forecasting problems. However, the researchers have only information on the balance funds, which are often poorly reflecting the real state of the economy. The indistinct effective fund concept can be formalized and assessed quantitatively within the method of the production functions (PF) on the basis of VK Gorbunov and AG Lvov's model (2012) of the standard macroeconomic PF development, one of which factors - the capital according to the statistical information on production investments. Effective funds are estimated together with the PF parameters and the main indicators of fund dynamics: amortization and initial value. In the article, the coefficient of marketability on investment, which is a share of real use of the allocated production investments, is additionally introduced into the dynamic equation. The comprehensive assessment results of the PF parameters and effective funds for economies of the Volga and Ural Federal Districts with use of several classes of two-factorial PF are given. As the second factor, the work and energy consumption are alternatively considered. As the result of development of region PF, the macroeconomic indicators: average and marginal returns of factors, factorial elasticity, marginal rate of factor substitution, elasticity of substitution, are calculated. It increases the quality of the quantitative analysis of regional economies and objectivity of their comparison.

Keywords: regional production functions, production investments, effective fixed assets, analysis of economics

The research has been prepared with the support of the Russian Foundation for Basic Research, the Project No. 12-01-97029. The results have been presented in the VI All-Russian Symposium on the Economic Theory. Section 3.1.

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Gorbunov Vladimir Konstantinovich - Doctor of Physics and Mathematics, Professor, Senior Research Associate, Ulyanovsk State University (42, L. Tolstogo St., Ulyanovsk, 432017, Russian Federation; e-mail: [email protected]).

Krylov Vladimir Pavlovich - Research Engineer, Ulyanovsk State University (42, L. Tolstogo St., Ulyanovsk, 432017, Russian Federation; e-mail: [email protected]).

Graduate School of Management and Business

Molodechno representation

Department of Economics and Management

on the topic: Analysis of the efficiency of the use of fixed capital and the development of proposals for its increase.

student VSHUB faculty

IV course, group EUP-1 Rusak V. R.

Supervisor,

Associate Professor, Ph.D. Ogurtsov A.I.

Molodechno 2000

Introduction

1. Fixed capital - the technical base of production

and its analysis 3

2. Analysis of the use of BPF at Molodechno ZMK 8

3. Ways to improve the efficiency of use

fixed capital at Molodechno ZMK 23

4. Conclusion 26

List of sources used 27

Introduction

In the production process and the provision of services, the following types of economic resources are used: natural (land, subsoil, water and forestry), labor (people and their ability to produce goods and services), means of production (industrial buildings, structures, machine tools, vehicles, materials , raw materials, energy, spare parts, etc.), entrepreneurial ability of people.

The materialized means of production are called the capital of the enterprise.

Capital, as a means of production, is divided into means and objects of labor that are involved in the creation of products and services, but differ in their functions in the production process.

The means of labor constitute the material content of the main production assets, i.e. fixed capital, objects of labor - circulating production assets, i.е. working capital.

The main production assets (OPF) operate in the sphere of production and constitute the main part of the national wealth of our republic. 32% of OPF is concentrated in the industry of the Republic of Belarus. They determine the technical potential of the republic, the enterprise; the pace of production depends on their qualitative composition and condition.

In market conditions, enterprises, regardless of their form of ownership, acquire equipment and build workshops at the expense of their own depreciation, profits, and loans. And in order for production to be efficient, and the huge funds spent on the creation and acquisition of OPF not to be lost in vain, fixed assets should be used most fully and rationally. The profit of the enterprise, and, consequently, further development, depends on how the fixed production assets are used.

Unfortunately, most of the OPF is physically and morally obsolete. The average service life of the BPF in the Republic of Belarus is 30 years, while abroad this period does not exceed 12 years.

Depreciation of equipment at a number of enterprises of the republic is 60 ¸ 70%%. Due to high inflation rates, enterprises do not have enough depreciation fund for the renovation of equipment. And enterprises equipped with obsolete equipment, producing products according to the old, uneconomical technology, are not capable of producing competitive products.

Given the importance of this problem, my choice was on the topic of the course work "Analysis of the efficiency of the use of fixed capital and the development of proposals for its increase at the Molodechno ZMK."

1 Fixed capital - the technical base of production and its analysis

The economic nature of the means of labor in various social formations is not the same. If the means of labor are privately owned, they are fixed capital. Under the conditions of public ownership, the means of labor act in the form of fixed production assets with use value. Considering that in a market economy a significant proportion of state property, including means of labor, must be privatized, it is possible with good reason to consider the means of labor as fixed capital.

The fixed capital of an industrial enterprise includes the means of labor, which repeatedly participate in the production process, performing qualitatively different functions. Gradually wearing out, they transfer their value to the created product in parts over a number of years in the form of depreciation. Fixed capital differs in terms of production and technical purpose, role in production and the period of reproduction. Therefore, for planning the OPF, calculating depreciation and depreciation rates, the classification of fixed capital by type is carried out depending on their role in the production process.

Currently, in accordance with the standard classification, the fixed capital of an industrial enterprise is divided into the following groups depending on the homogeneity of the production purpose and natural-material characteristics:

1. Building

2. Structures

3. Transfer devices

4. cars and equipment

5. Vehicles

6. Tools of all kinds and devices attached to machines used to process a product

7. Production equipment used for production operations, labor protection.

8. Household inventory

The structure of fixed capital is the share of each of the groups in their total value. The structure of fixed capital cannot be the same for industrial enterprises in various industries. This is explained, first of all, by the specification of the industries themselves, the technical equipment of the enterprise, the level of specialization, concentration and cooperation, geographical location and other features. Not all groups of fixed capital play the same role in the production process. If buildings or structures provide the conditions for production, then machines and equipment are directly involved in the creation of products. On this basis, fixed capital is divided into active and passive parts. The active part of the fixed capital is the leading one and serves as the basis for assessing the technical level and production capacity. The passive part is auxiliary and ensures the operation of active elements.

The efficiency of the use of fixed capital is assessed by means of general and partial indicators.

Fixed capital is analyzed in several directions:

1. Dynamics of fixed assets in market prices, taking into account inflation. This dynamics can be compared with the output at constant prices and on this basis to determine whether the return is growing or not.

2. Analysis of the structure of fixed capital, including:

-The production structure, which speaks of the distribution of fixed assets among various industries;

-Technological structure showing the ratio between the active and passive part of fixed assets;

-The age structure that characterizes fixed assets by their service life.

3. Analysis of the renewal, disposal and depreciation of fixed assets, which are characterized by the corresponding coefficients:

K update \u003d F vyd / F to × 100

K vyb \u003d F liquid / F n × 100

where K update , K vyb - coefficient of renewal and disposal, %

F vyd, F liq - the cost of introduced and liquidated OPF (for the year);

F c, F n - the cost of the OPF at the end and at the beginning of the year

Moreover, not only the values of each of these coefficients are important, but also the difference between them.

The depreciation coefficient is the share of those funds whose age exceeds the standard terms.

4. The technical level of fixed capital. It is determined by comparison with the main competitors of the company in the domestic and foreign markets.

5. The effectiveness of the use of BPF is characterized by a number of coefficients:

-The coefficient of intensity of use of fixed assets in time, including the coefficient of shift work of equipment;

-Production capacity utilization factor, i.e. the ratio of the actual power of the equipment to the passport;

-Return on assets calculated by the formula:

-The growth of capital-labor ratio per employee in line with the growth of labor productivity. This indicates whether the increase in output is mainly due to savings in human labor or mainly due to the increase in fixed assets.

2 Analysis of the use of BPF at MZMK

2.1 Brief description of the object of study

The construction of buildings and structures in all sectors of the national economy is associated with the widespread use of metal structures. To implement this task, in 1969 the Molodechno Metal Structures Plant (MZMK) was put into operation. The plant specializes in the manufacture of structures for ferrous and non-ferrous metallurgy, the chemical industry, mechanical engineering, the building materials industry, transport enterprises, agriculture, cultural facilities and others.

The total area of the plant's territory is 81.7 hectares, the commissioned industrial buildings are 128460 m 2 . The structure of products can be determined by the production capacities shown in Table 2.1.

Table 2.1 - Production capacities of the Molodechno ZMK as of 1.01.2000

MZMK belongs to the building materials industry of the Republic of Belarus.

The plant is equipped with high-performance equipment, such as: a mill for the production of cold-closed welded profiles (Germany), a line for the production of profiled flooring (Italy), CNC machines for dimensionless cutting of rolled metal, conductors for assembly, automatic machines for welding structures.

As of January 1, 2000, the cost of the plant's fixed assets amounted to 1,744,284 thousand rubles, including industrial production - 1,618,174, of which: buildings - 884,738, structures - 67,561, machinery and equipment - 499,180, tools and tooling - 32,989, vehicles - 60,697 and transmission devices - 73,009 thousand rubles. The available fleet of equipment is characterized by significant physical wear and tear: 59.6%, the service life is more than 10 years.

The main raw material for the production of products is a wide range of rolled metal, which is imported from Russia and Ukraine, its annual demand in recent years has amounted to 160...180 thousand tons.

The average number of employees of the plant is 2350 people, including 2100 industrial and production personnel.

2.2 Calculation of the main indicators of the use of BPF at MZMK

The transition of the economy to market economic conditions puts enterprises in front of the need to control the degree of use of the means of labor, which determine the production potential and possible growth rates of production, as well as the optimal amount of capital investments. For intra-factory planning, analysis and disclosure of reserves for increasing the efficiency of the use of BPF, a system of private and general indicators is used.

Let's calculate the indicators of equipment use using the example of production No. 1.

Let's determine the actual shift ratio by groups of production equipment No. 1 and identify its impact on output. For calculation, we compare the auxiliary table 2.2

Table 2.2 - Calculation of the actual equipment shift ratio for the procurement and assembly and welding sections.

Equipment groups	Quantity	Annual fund of operating hours of equipment groups	Labor input by groups of equipment in machine-hours	Shift ratio
Equipment groups	Quantity	Annual fund of operating hours of equipment groups	Labor input by groups of equipment in machine-hours	plan	Fact.
1	2	3	4	5	6
harvesting area Sheet straightening machines Bending presses and rollers Profile cutting scissors Guillotine shears Shot blasting machines Face milling machines Milling and cutting machines Planers Radial drilling machines Mechanical presses Gas cutting machines Welding machines Assembly and welding area Semi-automatic welding
Total production	130	249470	198409	1,5	0,8

The main reason for the low shift ratio was the irregular work of the sections due to the lack of rolled metal. For such groups of equipment as guillotine shears, milling and cutting machines and face milling machines, the shift ratio is close to the planned one due to the fact that the most labor-intensive products were selected from the portfolio of orders in order to improve the financial situation. If the harvesting area were fully provided with rolled metal, then only by increasing the equipment shift ratio to the planned one, the output would increase by 40% or by 16.0 thousand tons:

39.9 x 1.5 / 1.07 = 55.9

55,9 – 39,9 = 16,0

where 39.9 is the output of the harvesting site in 1999 (thousand tons)

We present the initial data for calculating the coefficients of extensive and intensive use of equipment in the form of table 2.3

Table 2.3 - Initial data for calculating equipment usage indicators

Based on the data in the table, the coefficient of effective use of equipment will be equal to:

Ke \u003d F in fact / F in plan. = 139379 / 195000 100 = 71.4%,

those. by the time the equipment was used only by 71.4%.

The coefficient of intensive use of equipment characterizes the use of equipment by capacity:

K and \u003d 0.286 / 0.346 × 100 \u003d 82.6%,

those. output for 1 machine-hour decreased by 17.4% compared to the plan

The coefficient of integral use of equipment (in terms of time and power) is equal to:

K S \u003d 0.714 × 0.826 \u003d 0.59 or 59%

This coefficient shows that in 1999 the reserve of production potential at the harvesting site amounted to 41% and an urgent operational response is needed to survive in the conditions of market relations.

At the same time, due to not using the planned time fund, products were underproduced:

(-55621) × 0.346 = -19.2 thousand tons

A decrease in the intensity of use of equipment as a result of a decrease in the shift ratio entails a decrease in output from each piece of equipment, and labor productivity falls. Therefore, by reducing the coefficient of intensity of use of equipment by the harvesting section, the following products were underproduced:

0.06×139379 = -8.4 thousand tons

And in total 19.2 + 8.4 = 27.6 thousand tons

We calculate the production capacity of production No. 1. For the calculation, we will compile an auxiliary table 2.4.

As regards the harvesting section, the leading group of equipment includes milling and cutting machines - progressive machines that perform the most complex and critical operations. On these machines, a wide range of profiled metal products can be cut at any cutting angle (from 0 to 180°) with simultaneous milling of the cutting line. The throughput ratio of this group of equipment is 1.7. Three more groups of equipment have the same throughput coefficient.

Table 2.4 - Calculation of the throughput coefficient and production capacity of the site

Equipment groups

Quantity, units

The actual fund of the operating time of groups of equipment, hour

Progressive complexity of the program, machine-hour

Throughput ratio

group 3: group 4

Site capacity factor

Equipment load factor gr.3:gr.4

Possible output, thousand tons

The number of excess machine-hours gr.3: gr.4

Sheet straightening machines

Bending presses and rollers

Profile cutting scissors

Guillotine shears

Shot blasting machines

Face milling machines

Milling and cutting machines

Planers

Radial drilling machines

Mechanical presses

Gas cutting machines

Welding machines

1,7

The throughput factor is the reciprocal of the equipment load factor. It is defined as the ratio of the actual annual time fund of equipment groups to the progressive labor intensity of the annual production program:

To p.s. \u003d F d × p / T pr

It shows the ability of a site or workshop to ensure the release of planned products.

The production capacity factor is determined by the leading group of equipment and is equal to the capacity factor of this group, the workshop capacity is determined by the capacity of the leading section.

This means that the production capacity factor will be respectively equal to K p.m. = 1.7, while the possible output of products for this group of equipment will be 39.9 × 1.7 = 67.8 thousand tons of semi-finished products.

Table 2.4 shows that the minimum throughput factor for equipment groups corresponds to the production capacity factor, which means that there are no “bottlenecks” in the procurement production. In addition, column 9 of Table 2.4 shows that all equipment groups have a large reserve of unused time and a low equipment load factor.

To check the compliance of the throughput capacity of adjacent or auxiliary sections and workshops with the production capacity of the main sections and workshops, a contingency coefficient is applied.

K s \u003d M 1 / M 2 × Y 1

where M 1, M 2 are the capacities of the compared shops

U 1 - specific consumption of products of the first workshop used to produce a unit of output produced by the second workshop.

The specifics of the steel structure plant is such that for the assembly and welding section, the production capacity is calculated based on the useful working area of the site. The calculation of the production capacity of the assembly and welding section of production No. 1 is presented in tables 2.5 and 2.6. The calculation is made in accordance with the "Industry Instructions for Determining the Production Capacity of Factories for the Production of Light Steel and Aluminum Structures".

Table 2.5 - Calculation of the removal of structures from the areas of the assembly and welding site of production No. 1 for 1999.

Table 2.6 - Calculation of the production capacity of the assembly and welding site of production No. 1 by area on 01/01/99 and 01/01/2000

product name	Production of structures for 1999, tons	Removal of s / m 2 during 2-shift work (Table 2.5 gr. 9)	The coefficient of increase in the use of the area, K 2	Removal of s / m 2, taking into account K 2 during 2-shift work (gr3 × gr4) tons / m 2	Availability of space as of 1.01.99, m 2	Commissioning, disposal of areas for 1999, m 2	Availability of space as of January 1, 2000, (column 6±column 7) m 2	Production capacity at 2-shift operation, tons
product name	Production of structures for 1999, tons	Removal of s / m 2 during 2-shift work (Table 2.5 gr. 9)	The coefficient of increase in the use of the area, K 2		Availability of space as of 1.01.99, m 2	Commissioning, disposal of areas for 1999, m 2		as of January 1, 1999 gr.5×gr.6	at 1.01. 2000 gr5×gr.8
1	2	3	4	5	6	7	8	9	10
Steel building structures Lower load-bearing structures

Table 2.6 shows that the production capacity of the assembly and welding section amounted to 69.7 thousand tons of structures, and since the specific weight of the products of the blank section for the manufacture of structures in the assembly and welding section is 1, the contingency coefficient between the sections will be equal to:

K c \u003d 67.8 / 69.7 × 1 \u003d 0.97

A coefficient of 0.97 shows that the procurement site is a bottleneck, but since this is the leading site, the production capacity of production No. 1 is determined by it - it is taken in the amount of 67.8 thousand tons of metal structures.

Comparison of the actual output (V f) and the average annual capacity (M s) allows us to determine the capacity utilization factor (K pm) of the enterprise, determined by the formula:

K pm \u003d V f × 100 / M s

To calculate the utilization rate of production capacity, the balance of production capacity was compiled in table 2.7.

Table 2.7 - Balance of production capacity of production No. 1 of the Molodechno ZMK

The given calculations of indicators of use of capacity testify to presence of huge unused reserves. With an interested and skillful use of fixed production assets, the maximum load of free equipment with additional orders, economic and financial results can be almost doubled with a minimum of investment.

2.3 Analysis of the use of fixed production assets.

When analyzing the use of labor means, the following tasks are solved:

Study of the structure and movement of OPF, their distribution according to the places of use and purpose;

Assessment of the technical condition of the funds, the degree of their renewal and technical perfection;

Studying the effectiveness of the use of BPF;

Evaluation of the use of the OPF;

Assessment of the use of production capacity for the enterprise as a whole and its divisions.

To analyze the volume, structure and dynamics of the fixed assets, the balance of the movement of the fixed assets along the Molodechno WMC is given (table 2.8)

Table 2.8 - Balance of movement of the Molodechno plant of metal structures

Types of main	Back to top		Received for 1999			Retirement
Types of main	Thousand rub.	%	Input	Revaluation	Total	Thousand rub.	Thousand rub.	%
1	2	3	4	5	6	7	8	9
Total fixed assets Incl. non-productive Production From LFH: - buildings Structures Transfer devices cars and equipment Vehicles Tools, production and household inventory Reference: Depreciation of fixed assets

From the analysis of the volume and dynamics of fixed assets, it follows that the growth of fixed assets occurred due to the commissioning of 71,398 tr. or by 4.3% and revaluation by 0.3%, incl. production assets 58998×100/1556881 by 3.8%. The increase in non-productive assets amounted to 12400 × 100 / 111739 by 11.9% due to commissioning in 1999 amounted to 476204 + 58550 / 1556881 × 100 = 34.3%, and at the end of 1999 497260 + 60397 / 1618374 × 100 = 34.45 %

For a general description of the dynamics of fixed assets are the coefficients of their renewal and retirement. The renewal coefficient is the ratio of the value of funds received during the analyzed period to their total value at the end of the year. The BPF renewal coefficient in 1999 is 58998×100//1618374 = 3.6%, including their active part 20346+1908×100/557657 = 4.0%. The OPF retirement ratio represents the degree of intensity of fixed assets retirement and is calculated as the ratio of the value of the OPF retired for a certain period to the value of the OPF at the beginning of the same period. The OPF retirement ratio for 1999 is 1272×100/1556881 = 0.08%, including 1203×100/534754 = 0.22% of the active part. According to specialists' calculations, the retirement rate for accelerated restructuring should be 4...6%. At the plant, in 1999, the renewal of the active part of the fixed assets amounted to 4.0%, while the obsolete both morally and physically equipment is removed at a much lower rate, accumulates, and the burden of old funds is growing.

An important step in the analysis of fixed assets is the study of their technical condition.

A general indicator that characterizes the technical condition of fixed assets is their depreciation coefficient. Table 2.8 shows a very high depreciation of the MZMK BPF, which amounted to 71.8% at the beginning of 1999, and 61.9% at the end.

The most important characteristic of the technical level of the BPF is the age composition of the equipment presented in Table 2.9

Table 2.9 - Availability and age composition of equipment at MZMK

According to Table 2.9, 26.2% of the plant's equipment is over 20 years old, and 33.4% is over 10 years old. The costs of repairs of such equipment in each subsequent repair cycle have a higher level, i.e. Compensation for wear and tear as machines age requires more and more material costs.

Often, overhaul of equipment is more expensive than a new machine, but it does not always restore the full operational properties of equipment. During the operation of physically and morally obsolete equipment, the costs of material and labor resources increase, but it is impossible to produce high-quality products on it.

As the service life of equipment increases, its actual annual fund of time decreases: at the age of 5 ... 10 years by 1.5%, 10 ... 15 years by 2%, over 15 years by 2.5%. When considering the use of OPF and production capacity, it is important to analyze the return on assets. In the current situation, the dynamics of capital productivity can only be considered under the influence of inflationary processes, both on manufactured products and on fixed assets. And here many distortions in pricing have been made, which does not allow us to give an objective assessment of the dynamics of capital productivity since 1991.

3 Ways to improve the efficiency of fixed capital use at the Molodechno Steel Structures Plant

Currently, MZMK pays much less attention to increasing the efficiency of using fixed industrial assets and production capacities than in the 80s ... 90s. All aspirations are directed to survival. The funds received from the sale of products are only enough to purchase materials and pay workers. The funds of the depreciation fund, due to inflationary processes, do not fully compensate for the depreciation of the OPF.

An analysis of the use of the OPF for 1999, given in the second section of the course work, shows low shift ratios, equipment utilization and the level of capacity utilization, which is typical for a decline in production.

The main form of planning for increasing the efficiency of the use of fixed assets are plans for technical development and organization of production and technical re-equipment of the enterprise.

In terms of technical development and organization of production, measures aimed at increasing the use of fixed assets are concentrated in the sections:

II Introduction of progressive technology, mechanization and automation of production;

III Modernization of existing and renewal of obsolete equipment;

V Improvement of management, planning and organization of production;

VI Research and development work;

VII Introduction of the scientific organization of labor.

Among the most effective measures aimed at improving the efficiency of the use of the OPF in 2000 are:

1. Implementation of centralized power supply for welding stations. The event is aimed at reducing the number of welding equipment, freeing up production space, reducing the amount of repair work and saving electricity;

2. Modernization of face-milling machines - production and implementation of mechanized clamps to machines. The event is aimed at reducing the time of auxiliary operations, which increases the intensive load of the machine, labor productivity, improves the quality of manufactured products;

3. Assimilation of the production of typical elements of buildings according to the 8396KM, 8397KM series, which will significantly reduce the labor intensity of the manufactured structures due to the unification and standardization of the assembly grades included in the design;

4. Mastering the manufacture of new types of products: garage doors, small premises (kiosks), metal fences, safes. This event is aimed at increasing the load factor of equipment with significant reserve capacity, expanding the range of products for the domestic market.

In order to improve the efficiency of using the BPF at the MZMK, it is necessary to pay attention to the following issues:

Organization of reliable accounting of equipment operation in terms of time and power, which will make it possible to regulate the loading of reserve capacities by manufacturing products that are not included in the main range;

Accounting for the costs of repair, maintenance and operation of each piece of equipment in order to determine the optimal service life, after which further use of the equipment is not economically feasible;

Introduction of in-depth internal cost accounting. This is the main direction in the activation of the human factor in relation to the use of technology and the development of a genuine economic attitude towards it by the workers of the plant. The standard production capacity of a site or workshop can become the basis for determining intense plan targets.

4 Conclusion

With the transition to a market economy, an important place in the survival of industrial enterprises belongs to the effective use of fixed capital, which led to the choice of the topic of the course work and its relevance.

In the course of the work, the results were obtained, allowing to draw the following conclusions and suggestions:

1. At present, the process of renewal of fixed capital has become much more complicated due to the sharp rise in the cost of machinery and equipment.

2. An analysis of the efficiency of the use of fixed capital at the Molodechno ZMK showed low indicators of the use of fixed assets due to a deep crisis in the economy, a decline in production, and shortcomings in planning and organizing production at the enterprise itself.

3. In the third section of the course work, recommendations are made to improve the efficiency of the use of fixed capital, which cover the following areas:

Mechanization of production processes;

Replacement of equipment and its modernization;

Improving the organization of production and labor.

List of sources used

1. A.S. Bulatov "Economics" M, "Beck", 1999

2. N. L. Zaitsev "Economics of an industrial enterprise" M, "Ifra-M", 1998

3. T.V. Karpey, L.S. Lazuchenkova, "Economics, organization and planning of industrial production", Mn "Design PRO", 1999.

4. G. Ya. Kozhekin, L.M. Sinitsa "Organization of production", Mn IP "Ekoperspektiva", 1998.

5. T.G. Morozova, A.V. Pikulkin "Forecasting and planning in market conditions", M., "Unity", 1999.

6. O.Yu. Mamedov "Modern Economics", Rostov-on-Don, 1995

7. V.Ya. Khripach "Enterprise Economics", Mn, NPZh, "Finance and Audit", 1997.

8. M.I. Tkachuk "Management of financial activities of enterprises", Mn, 1995.

Analysis of the use of technological equipment. The renewal of technology characterizes the automation coefficient Cavt calculated by the formula: where Os aut is the cost of automated fixed assets OS m the total cost of machinery and equipment. To characterize the state of working machines, equipment, tools, devices, grouping according to technical suitability is used: suitable equipment; equipment requiring major repairs; unsuitable equipment to be written off. Provision of certain types of machines...

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Topic 7. ANALYSIS OF THE EFFICIENCY OF THE USE OF FIXED CAPITAL

Meaning, tasks and information support of the analysis. Main sources of capital,
the order of its formation and placement.
Analysis of indicators characterizing the level of provision of the enterprise with the main
means of production.

Analysis of the intensity and efficiency of the use of fixed production assets.
Analysis of the use of technological equipment.
Analysis of the use of the production capacity of the enterprise.

Question 1. Significance, tasks and information support of the analysis. Main sources of capital,

the procedure for its formation and placement

Business in any field of activity requires an answer to three basic questions:

1. What production potential should a business entity have to
achieving the goal?

2. Where to find funding sources and what should be their optimal composition?

3. How to organize financial management to ensure financial stability
enterprise, its competitiveness?

The management of the enterprise should know that the financial well-being of the enterprise and the results of its activities depend on how much capital a business entity has, how optimal its structure is, how expediently it is transformed into fixed and working capital.

The analysis of economic activity should begin and end with a study of the state of finance at the enterprise.

The main tasks of the analysis:

1. The study of the initial conditions for the functioning of the enterprise,

2. Establishment of changes in the availability and structure of capital for the reporting period and evaluation
the changes that have taken place

3. Finding ways to increase capital, increase the level of its return and strengthen financial
enterprise sustainability.

The main sources of information for the state of the enterprise's finances, the formation and placement of its capital are: the balance sheet, profit and loss statements, capital flows, cash flows, the availability and movement of fixed assets and other forms

reporting, primary and analytical accounting data, which decipher and detail individual balance sheet items.

Capital - These are the funds that a business entity has to carry out its activities with the aim of making a profit.

The capital of the enterprise is formed both at the expense of its own and at the expense of borrowed or attracted sources.

Equity includes:statutory fund, reserve and additional funds, targeted financing, retained earnings.

Authorized fund - this is the amount of funds of the founders to ensure the statutory activities. At state enterprises, this is the value of property assigned by the state to the enterprise on the basis of full economic management, at joint-stock enterprises - the nominal value of all types of shares, for limited liability companies - the amount of shares of owners, for a leased enterprise - the amount of contributions of its employees.

reserve fund has a strictly designated purpose and is formed in cases established by law, or in accordance with the constituent documents to compensate for possible losses and losses of the organization associated with entrepreneurial risk. The reserve fund is formed, as a rule, at the expense of the net profit of the organization.

Formation additional fundmay be carried out in the following cases:

by increasing the value of non-current and current assets as a result of their revaluation in
in accordance with the law;

from share premium received in the process of formation of the authorized fund of the joint-stock company
companies, as well as by selling shares above their nominal value;

as a result of an increase at the expense of targeted financing for capital investments;

as a result of gratuitous receipt of fixed assets from organizations within
one owner by his decision or a body authorized by him.

Special-purpose financingis a source from which economic entities receive additional funds for the implementation and expansion of their activities (research work, payment of current expenses, financing of investment projects). The main part of targeted financing is state assistance, the main purpose of which is to obtain economic benefits for the organization as a result of receipt of funds and other property from the state.

Undestributed profitscan be used in the turnover of the enterprise or for the issue of additional shares.

Borrowed capital -these are bank loans, loans, accounts payable, leasing, etc. It is divided into long-term, i.e. with a maturity of more than 1 year and short-term, i.e. up to 1 year.

The main source of information for analyzing the formation and placement of capital is the balance sheet.

3 Balance sheet -this is a way of generalized reflection in the valuation of the state

the assets of the enterprise and the sources of their formation on a certain date. In its form, it represents a table in which, on the one hand (in the asset), the funds of the enterprise are reflected, on the other (in the liability), the sources of their formation.

Question 2. Analysis of indicators characterizing the level of provision of the enterprise with basic

means of production

One of the most important factors in increasing production is the provision of industrial enterprises with fixed assets in the required quantity and assortment and their effective use.

Data sources for analysis",business plan of the enterprise, technical development plan, balance sheet, report on the availability and movement of fixed assets, data on the revaluation of fixed assets, balance of production capacity, etc.

To assess the state of fixed assets (tools of labor) in terms of their technical level, productivity, economic efficiency, physical and obsolescence, the following indicators are calculated:

1. Refresh Rate (Cobn)reflects the intensity of renewal of fixed assets and is calculated as the ratio of the value of fixed assets newly received during the reporting period to their value at the end of the same period:

2. Term for renewal of fixed assets (Tobn)is calculated as the ratio of the value of fixed assets at the beginning of the period to the value of received fixed assets:

3. Retirement ratio (Kvyb) or liquidity ratio (Click)characterizes the degree of intensity of the retirement of fixed assets from the sphere of production and is calculated as the ratio of the value of fixed assets retired during the reporting period (OS vyb) to their value at the beginning of the same period (OS n):

4. Growth coefficient (Kpr)characterizes the level of growth of fixed assets for a certain period and is calculated as the ratio of the cost of growth of fixed assets (OS pr) to their value at the beginning of the period (OS n):

5. Wear factor (Ki)is a general indicator of the technical condition of fixed assets and is defined as the ratio of the amount of depreciation of fixed assets (W) to their initial cost of fixed assets:

6. Technical suitability coefficient (Kg)is a general indicator of the technical condition of fixed assets and is defined as the ratio of their residual value of fixed assets (OS o) to the initial cost of fixed assets (OS n):

The wear and tear coefficients are calculated both at the beginning and at the end of the reporting period. The lower the wear rate or the higher the service life, the better the technical condition in which the fixed assets are located.

7. Renewal of fixed assets can occur both through the acquisition of new ones and through the modernization of existing ones, which is more preferable, since in this case materialized labor is preserved in structural elements and units that cannot be replaced. Technology update characterizesautomation coefficient (Kavt),calculated by the formula:

where Os aut - the cost of automated fixed assets, OS m - the total cost of machinery and equipment.

8. For characterizationage compositionand obsolescence funds are grouped according to the duration of operation (up to 5, 5 - 10, 10 - 20 and more than 20 years).

5 9. To characterize the state of working machines, equipment, tools, fixtures

apply groupingaccording to technical suitability:

suitable equipment,

equipment in need of overhaul

unusable equipment to be written off.

security certain types of machines, mechanisms, equipment, premisesis established by comparing their actual availability with the planned need,needed to meet the production plan. Generalizing indicators characterizing the levelsecurity of the enterprisemain production assets (OPF) are:

capital-labor ratio,
technical equipment of labor,
the share of the active part in the total amount of fixed assets.

Overallcapital-labor ratiois calculated as the ratio of the average annual cost of fixed production assets to the average number of workers on the longest shift.

where FV - capital-labor ratio,

CHR - the average number of employees,

PT - labor productivity,

FO - return on assets.

The level of technical equipment of laboris determined by the ratio of the cost of production equipment (the active part of fixed assets) to the average number of workers on the largest shift.

The share of the active part of fixed assets (UD®)is determined by the ratio of the average annual value of active fixed assets to the average annual value of all OPF.

OPF

Question 3. Analysis of the intensity and efficiency of the use of fixed assets

Fixed production assets (OPF)occupy the main share in the total value of the fixed capital of the enterprise. From their quantity, cost, technical level, efficiency of use, the final results of the enterprise's activities largely depend - the output of products, its cost, profit, profitability, financial stability.

V depending on destinationin production and economic activities, fixed assets are divided into:

production - employed in the sphere of production;

non-production - residential buildings, structures, etc.

The role of fixed assets in the production process is different. Some of them directly affect the object of labor and are active (working machines and equipment, measuring and control instruments, laboratory equipment, computers, vehicles), the other part creates the necessary conditions for work and is passive (buildings, structures).

For a generalizing characteristicefficiency and intensity of use of fixed production assetsindicators are used: profitability, capital productivity, capital intensity and capital profitability.

Profitability -the ratio of the amount of profit to the average annual cost of OPF:

return on assets - the ratio of the cost of manufactured or sold products after deduction of VAT, excises and other deductions to the budget and extra-budgetary funds to the average annual cost of the OPF:

FO = VP / OPF or FO = RP / OPF

where FO - return on assets,

When analyzing capital productivity, it is necessary to evaluate the implementation of the plan, study the dynamics over a number of years, identify and quantify the factors of change in capital productivity, and calculate the reserves for its growth.

capital intensity or the inverse rate of return on assets - this is an indicator of specific capital investments per ruble of production growth.

The most general indicator of the efficiency of the use of fixed assets isreturn on investment.Its level depends not only on capital productivity, but also on the profitability of products. The relationship between these indicators can be represented as follows:

where Kopf is the profitability of OPF,

P - profit from the sale of products,

OPF - average annual cost of OPF,

VP and RP - respectively, the cost of manufactured or sold products,

FO - return on assets,

R VP, Rpn - profitability of manufactured or sold products.

Under return on investmentis understood as the ratio of profit for the reporting period to the cost of OPF. This indicator reflects how much profit falls on one ruble of fixed assets.

To increase the return on assets, it is necessary that the growth rate of labor productivity outstrip the growth rate of its capital-labor ratio.

1. First-order factors affecting the return on assets of the OPF,are the change in the share of the active part of funds in the total amount of OPF, the share of operating equipment in the active part of funds and the change in the return on assets of operating equipment:

yuvaniya

return on assets of existing equipment,

2. Impact calculation second-order factors per leveldirectly depends on its structure:

the number of units of operating technological equipment,
operating time of a piece of equipment,
average hourly output (productivity) of a piece of equipment.
The following factorial model is used for the analysis:

TeT units \u003d DxK cm HP

where K is the average annual number of technological equipment, T ed - worked per year by a piece of equipment hours,

CV - production output for 1 machine hour,

OPFd - the average annual cost of operating equipment,

D - the number of days worked,

P - shift duration, K cm - shift coefficient.

8 3. To calculate the impactthird-order factors on the level of capital productivityneed to know

how the volume of production has changed due to the replacement of equipment or its modernization. To this end, it is necessary to compare the output of new and old equipment for the period of time after its replacement and divide the result by the actual average annual cost of technological equipment:

where Tj - operating time of the 1st equipment from the moment of commissioning until the end of the reporting period, CV n, CV s - respectively, the output for 1 machine hour after replacement and before replacement i - ro equipment.

In a similar way, the change in the volume of production and capital productivity is determined through the implementation of scientific and technical progress measures to improve technology and organization of production:

Change in capital productivity due to social factors, i.e. advanced training of employees, improvement of working and rest conditions, recreational activities, etc. are determined by the balance method:

Question 4. Analysis of the use of technological equipment

Analysis of the operation of technological equipment (the most active part of fixed assets) is based on a system of indicators characterizing the use of its number, operating time and capacity.

When analyzing the provision of an enterprise with production equipment and the efficiency of its use, it is advisable to group all equipment according to itsparticipation in the production process:

cash,

established,

acting.

to cash applies to all equipment available at the enterprise, regardless of where it is located (in the workshop, in the warehouse) and in what condition.

To established includes equipment installed and prepared for operation located in workshops, and part of the installed equipment may be in reserve, for conservation, for scheduled repairs, and modernization.

Operating equipment -this is the equipment actually operating in the reporting period, regardless of the duration.

The goal of maximizing equipment utilization is to minimize the amount of uninstalled idle equipment. The reduction in the quantity of uninstalled equipment, the acceleration of the commissioning of new machines increases the rate of expansion of production capacities and contributes to a better use of the means of production. To this end, it is necessary to converge the values characterizing the amount of available, installed and operating equipment.

To characterizethe degree of involvement of equipment in productioncalculate the following indicators:

Availability fleet utilization rate (Kn)as the ratio of the amount of used equipment (operating) to the amount of available equipment.

Fleet utilization rate of installed equipment (Ku)as the ratio of the amount of equipment used (operating) to the amount of installed equipment.

The difference between the amount of existing and installed equipment, multiplied by the planned average annual output per unit of equipment, is the potentiala reserve for the growth of production by increasing the number of operating equipment.

Increasing the efficiency of the use of operating equipment is provided in two ways: extensive (in time) and intensive (in terms of power).

To characterize the degreeextensive equipment loadingthe balance of the time of its work is studied, which includes:

Calendar fund of timethe maximum possible operating time of the equipment and
is calculated as the product of the number of calendar days in the reporting period by 24 hours and the number
pieces of installed equipment.
Regime fund of timeis found by multiplying the number of units set
equipment for the number of working days in the analyzed period and for the duration of the working day
in hours, taking into account the shift factor.

Planned fund - the time required to complete a production plan or
operating time of the equipment according to the plan.
Actual fund -time actually spent on production, i.e. number
actually used machine hours.

Comparison:

actual and planned calendar funds of time allows you to establish the degree of implementation of the plan for putting equipment into operation in terms of quantity and timing,

calendar and regime - the possibility of better use of equipment by increasing the shift ratio,

10 - regime and planned - time reserves by reducing the time spent on repairs.

To characterize the useequipment operating timethe following indicators apply:

1. Coefficient of use of the calendar fund of timeas the ratio of the actual to the calendar fund of the working time of the equipment.

2. The coefficient of use of the regime fund of timeas the ratio of the actual to the regime fund

3. The coefficient of use of the planned fund of time or the coefficient of extensive loading of equipmentas the ratio of the actual and planned fund:

4. The share of downtime in the calendar fundas the ratio of equipment downtime to the calendar fund of working time:

where Tf, Tp, Tr, Tk - respectively, the actual, planned, regime and calendar funds of the working time of the equipment,

PR - equipment downtime.

where K is the total amount of installed equipment,

5. Shift ratio of equipment operation (by whom),characterizing its extensive use, is calculated as the ratio of the sum of worked machine shifts per day to the total amount of installed equipment (including reserve equipment and those under scheduled repair):

H - the sum of worked machine shifts per day.

6. Intensive loading of equipment means the output per unit of time on average per machine (1 machine hour). An indicator of the intensity of equipment operation isload intensity factor:

where ChVf, ChVpl are the actual and planned average hourly output, respectively.

7. A generalizing indicator that comprehensively characterizes the use of equipment both in terms of time and power, -integral load factor -is the product of the coefficients of extensive and intensive loading of equipment:

In the process of analysis, the dynamics of these indicators, the implementation of the plan and the reasons for their change are studied.

For groups of homogeneous equipment is calculatedchange in production volumedue to its quantity, extensiveness and intensity of use:

VP i \u003d K i x D i x K cmi, x P i x CV i,

where K i - quantity of 1st equipment,

D i - the number of days worked by a piece of equipment,

K cm i - equipment shift factor,

P i - average shift time

CV i - production output per machine hour per i-th equipment.

Question 5. Analysis of the use of the production capacity of the enterprise

Under production capacity of the enterpriseit implies the maximum possible output of products with the actual volume of production resources and the achieved level of technology, technology and organization of production. She can express yourself in man-hours, machine-hours or the volume of output in physical or value terms.

The production capacity of an enterprise cannot be constant. It changes along with the improvement of technology, technology and organization of production and the strategy of the enterprise.

Sources of informationfor analysis are "Balance of production capacity", "Report on products", "Report on costs", "Report on profit and loss", etc.

12 Degree of capacity utilizationcharacterized by the following

coefficients and:

1. General coefficient,which is defined as the ratio of output
production (actual, planned) to the average annual production capacity of the enterprise.

Heavy load factordefined as the ratio of the average daily output
products to the average daily production capacity.
Extensive load factordefined as the ratio of actual or planned
time fund to the estimated working time fund adopted in determining the production
power.

The dynamics of these indicators, the implementation of the plan in terms of their level and the reasons for their change, such as the commissioning of new and reconstruction of enterprises, the technical re-equipment of production, and the reduction in production capacities, are being studied.

Factors of change in its value can be established on the basis of the reporting balance of production capacity, which is compiled in physical and value terms in comparable prices by type of products and in general for the enterprise:

Mk \u003d Mn + Ms + Mr + M otm ± M as - M in

where Mk - production capacity at the end of the reporting period,

Мн - production capacity at the beginning of the reporting period,

MS - increase in capacity due to the construction of new and expansion of existing enterprises,

Мр - increase in capacity due to the reconstruction of existing measures,

Motm - increase in capacity due to organizational and technical measures,

May - increase "+" or decrease "-" power due to a change in the range

products with different levels of complexity,

MW - reduction in power due to the disposal of machinery, equipment and other resources.

To characterizedegree of use of the passive part of funds(buildings and structures),

calculate the rate of output per 1 sq.m. production area, which in some

degree complements the characteristics of the use of production capacities of the enterprise.

Indicator output per 1 sq.m. production areadefined as the ratio

volume of production to the size of the area. An increase in the level of this indicator contributes to an increase

production and cost reduction.

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The quality of the use of production potential, the characteristics of the technical level in its ability to improve the performance of the organization are assessed by analyzing the effectiveness of fixed capital.

In the course of such an analysis, a set of indicators is used, including general and particular technical and economic indicators.

Generalizing indicators (capital productivity, turnover, profitability of fixed assets, etc.) cover the aggregate characteristics of the use of fixed assets. Private indicators reflect individual characteristics of the use of fixed assets and their types (coefficients of extensiveness and intensity of equipment use, integral load, shifts).

General indicator capital productivity most common in assessing the use of fixed assets. It is calculated as the ratio of the cost of manufactured or sold products to the average cost of fixed assets. Moreover, the ratio of sold products to the average cost of fixed assets characterizes their performance more fully:

where Nv- sales revenue;

F- the average cost of fixed assets for the period.

Return on assets shows the volume of production or sales per unit value of fixed assets. This is the revenue from the use of a unit of value of fixed assets. When starting to calculate it, it is advisable to exclude the cost of leased objects from the total cost of fixed assets. The cost of objects on the balance sheet, but used by tenants, is reflected in section 2.4 of the form "Explanations to the balance sheet". The exclusion of such objects from the calculation is due to the fact that fixed assets leased out do not participate in production, although they are listed on the balance sheet of their owner.

An increase in capital productivity indicates a more efficient use of facilities and vice versa.

When evaluating the effectiveness, the indicator is used turnover of fixed assets, which is measured by the duration of the turnover of fixed capital and is calculated by the formula:

where Г is the number of days in the period under review;

A g - the amount of depreciation accrued for the analyzed period T.

The duration of the turnover shows how many days the fixed assets will be fully depreciated. An increase in the duration of turnover means an increase in the terms for the renewal of fixed assets, which means a slowdown in their turnover. This contributes to an increase in the level of the taxable base in the current period and, consequently, an increase in the level of income tax, a decrease in the level of net profit in relation to the value of fixed assets. Shortening the duration has the opposite effect.

The efficiency of fixed capital is also characterized by profitability of fixed assets in the form of the ratio of one of the indicators of profit (profit from sales, profit before tax, net profit) to the average cost of fixed assets for the period. Profitability reflects the profit from the use of a unit cost of fixed capital. Return on fixed assets is also called return on equity.

When using profit from sales in the calculation of profitability, it is advisable to exclude the cost of leased objects that are on the balance sheet from the cost of fixed assets, since they do not participate in production. Their cost is reflected in section 2.4 of the form "Explanations to the balance sheet".

Having considered the general indicators of the use of fixed assets (capital productivity, turnover, profitability), let's move on to private technical and economic indicators use of equipment and premises of the enterprise.

One of the particular indicators of extensive loading (use over time) is coefficient of extensive use of equipment :

where ГФ - time of actual operation of the equipment;

T max is the maximum possible operating time of the equipment.

This indicator varies within

The closer K ZhST to one, the more fully the equipment is involved.

Equipment utilization is assessed using equipment shift ratio. V calculating this coefficient for one working day, all operating equipment is distributed among shifts and the arithmetic weighted average is calculated. The coefficient is determined by the ratio of the sum of the products of the number of shifts and the number of pieces of equipment (machine-shifts) to the total number of pieces of equipment operating during the day (machine-days).

Example. At the enterprise, out of 15 pieces of equipment, the following worked during the day: in one shift - 4; in two shifts - 8; in three shifts - 3. Then the shift ratio will be:

The calculation shows that each piece of equipment worked an average of 1.9 shifts.

In economic practice, only a part of the installed equipment is often used. In cases where part of the installed equipment does not work, determine coefficient of change of installed equipment. For this, the denominator in the formula for the shift coefficient of operating equipment (K cm) replaced by the amount of installed equipment.

Suppose that the number of equipment installed at the enterprise is 17 units, then the shift ratio of the installed equipment will be equal to

Obviously, the installed equipment is used for 1.7 shifts, which is 0.1 shifts less than the operating one (1.5 - 1.7). Losses from incomplete use of equipment will be equal to the average revenue from the sale of products manufactured in 0.1 shifts. Management needs to take action to use all equipment, or lease unused facilities. If these measures are impossible or inexpedient, ineffective, it is possible to sell inactive equipment, which will free up additional funds and reduce property tax.

The shift ratio of installed equipment can also be calculated by multiplying the shift ratio of operating equipment (K w) and the share of operating equipment in the installed equipment. According to the condition, the share of working machines will be 0.88 (15:17). Therefore, the shift ratio of the installed equipment will be:

Which is consistent with the previous calculation.

annotation scientific article on economics and business, author of scientific article - Vladimir Konstantinovich Gorbunov, Vladimir Pavlovich Krylov

Related Topics scientific papers on economics and business, author of scientific work - Gorbunov Vladimir Konstantinovich, Krylov Vladimir Pavlovich

The text of the scientific work on the topic "Evaluation of the Efficiency of Fixed Capital of Enterprises by the Method of Production Functions"

Molodechno 2000

Moreover, not only the values ​​of each of these coefficients are important, but also the difference between them.

Moreover, not only the values of each of these coefficients are important, but also the difference between them.