In the reporting year there was an increase in the volume of products for 19776 thousand rubles. or 5.2%, as well as an increase complete cost products for 20544 thousand rubles. or 5.5%. However, the rate of increasing costs exceed the rate of increasing the volume of product sales by 0.3%, therefore, increasing the cost leads to a decrease in the amount of profit.

In the reporting year, there has been a decrease in the profit from the sale of products by 768 thousand rubles. or 7.4% compared to the basic.

Also in the reporting year there is a decrease in the number of employees at the enterprise for 20 people. Reducing the number of employees in the enterprise is accompanied by an increase in production. Developing on 1 operating increased by 86 thousand rubles. or 110%. At the same time, the development of 1 workforce increased by 112 thousand rubles. or 111%. This suggests that the efficiency of use labor resources The company has increased.

Cost indicator for 1 rub. The volume of implementation in the reporting year increased by 1QU. This indicator characterizes the efficiency of the enterprise, because Shows the amount of costs that are contained in 1 rub. Revenue. Consequently, the increase in this indicator is 1 kopeck. It will lead to a decrease in profits in each ruble of revenue for 1 kopeck.

Profitability reflects the final results of the enterprise. The level of total profitability in the reporting year decreased by 0.4%. This suggests that the enterprise is located at the level of self-sufficiency.

To analyze the effectiveness of the use of the OPF, the dynamics of such indicators was analyzed as: fund-student, capital intensity, foundorebelity, stock repair.

Fondo studio shows how many rubles of revenue enterprise received from each ruble embedded in the production of OPF. In the reporting year, the FD increased by 0.92 rubles. This indicates a minor increase in the efficiency of the use of the OPF.

Fondarity shows what the magnitude of the OPF is spent to get 1 rub. Revenue. In the reporting period, no changes occurred.

Forentoreability characterizes the magnitude of the profit that the company receives from 1 rub. OPF. In the reporting year, it decreased by 12.5%. This indicates a decrease in the efficiency of using the OPF.

Fundsacking characterizes which part of the OPF in value terms accounts for 1 employee. In the reporting period, FV increased by 2.2 thousand rubles. per person. FV more than FO, therefore, the company has unused equipment, and therefore there are reserves for improving the use of the OPF.

To characterize the use of working capital at the enterprise, indicators were analyzed: the turnover coefficient, the load coefficient, the duration of revolutions.

The turnover coefficient is used mainly to determine the number of OS turns for a certain period of time. Increased this indicator in the reporting period compared with the basis for 3.64 turns indicates an increase in the speed of the OS turnover.

In the reporting period, the duration of 1 turns decreased by 17.3 days. This suggests that the company at the enterprise is used effectively. With the efficient use of OS, the turnover coefficient in the dynamics should increase, and the duration of the OS turnover is reduced.

In the reporting year, compared to the basic equipment received more than 5261 thousand rubles. and 8294 thousand rubles. active part of the OPF. At the same time, there was no decrease in the share of the active part. And dropped out equipment more in the base year than in the reporting on 13591 thousand rubles. and 339 thousand rubles. active part. And in the reporting year, he dropped less equipment than the increment factor.

This situation is characteristic of enterprises extending their activities.

At this enterprise, the structure of the OPF can be considered progressive, because The share of the active part\u003e 50%, in the dynamics continues to increase. In the reporting year there is a slight increase in this indicator. With 0.62% in the base year, it reached 0.87% in the reporting. The increase in this indicator in the dynamics is one of the progressive areas of technical development of the enterprise.

Consequently, the company has unused equipment, and therefore there are reserves for improving the use of the OPF.

Actual presence technological equipment In the reporting year corresponds to a planned need.

In the reporting period, there is an increase in PV potential by 3.2 thousand rubles / people. or 5%. And FV machines and equipment (actual) by 19.0 thousand rubles. / Person. or 48%.

The degree of equipment used is optimal, as the proportion of equipment taken to operate and the coefficient of use of cash equipment is equal to 1. Consequently, all the equipment available at the enterprise is involved in the technological process.

In the reporting year, the FO has increased by 1 rub. This means that the revenue of the enterprise, obtained from each ruble invested in the production of the OPF, has become more than 92 kopecks.

This indicates an increase in the efficiency of using the OPF.

The composition of intangible assets of the enterprise includes intellectual property objects, and a particularly exclusive right from the copyright holder to computer programs, databases. They make up 100% in total.

No change in NMA for the reporting year did not happen.

Additional income This type of NMA does not bring. Therefore, it is impossible to evaluate the effectiveness of the use of NMA.

Actual arrival commodity reserves In the base year and the reporting corresponds to the planned need for them, since the deviation from this equality can cause excessive accumulation in warehouses of inventories, which ultimately lead to a slowdown in working capital turnover. Reducing the receipt of inventories is caused by the disposal of some stores during the reconstruction period and cosmetic repair after a fire.

Commodity consumption in the reporting year increased. Bread began to be used by 1% more; Confectionery for 1,%; Milk and dairy products by 13.0%; Egg for 3%; flour by 20.3%; 9.0% tea; Vegetable oil by 14.0% This increase in freight stock consumption is associated with a change in the plan.

In general, the amount of material costs increased. But at the same time, the calculated data is shown the following.

In the reporting year there was an increase in the amount of material costs per 1 rub. Production volume of products. This is evidenced by the fact that in the base year the costs were 5 kopecks., And in the reporting they rose 1 kopecks. and amounted to 6 kopecks.

Production volume coming on each rub. Invested in the production of material resources also decreased in the reporting year. From 18.6 rubles. up to 16.5 rubles, i.e. 2.1 kopecks.

MOV ^ is an indicator of ineffective use of material resources.

The actual number of employees meets the planned need. In the category "Main personnel" lack 20 people, and in the categories "Auxiliary staff" and "Administrative and administrative staff" remained unchanged. The deviation in the category "Basic Personnel" was also in the Basic Year.

Therefore, it can be concluded that the company does not need labor resources because it is associated with the disposal of a certain number of stores.

The greatest specific weight in the total number of companies operating at the enterprise is 83.7%. The share of administrative and management staff 14.0%, the share of support staff 2.3%

Since the largest proportion is accounted for by the main personnel, the management structure can be considered effective

The average number of personnel in the reporting year decreased by 20 people. Compared to the basic. This was mainly due to an increase in the turnover coefficient on the disposal of personnel by 0.3%. The constant staff of the staff decreased by 20 people. And therefore, the coefficient of consistency of the staff decreased by 0.1% in the reporting year.

This indicates a deterioration in the efficiency of the use of labor resources.

In the reporting year, there is no immutability of the number of major workers in the enterprise. At the same time, the development of 1 workforce increased by 112 thousand rubles. or 111%. And the sales volume of products for 19776 thousand rubles increased, which was 105.2%.

This suggests that the efficiency of the use of labor resources in the enterprise has increased. And the result was the increase in labor productivity. And this in turn is accompanied by an increase in the amount of implementation.

In the reporting year, labor costs increased by 6526 thousand rubles. or 114%. The cost of the main staff rose by 5128 thousand rubles. or 113%. The administrative and managerial increased by 1199 thousand rubles. or 120%. And on the auxiliary staff for 199 thousand rubles. or 119%.

It can be concluded that the cost growth occurred mainly due to an increase in the cost of administrative and administrative and auxiliary personnel.

The highest share in the photo is occupied by the work of the main workers: 84.4% in the base year and 83.6% in the reporting. In second place, the costs of remuneration of administrative and management personnel: 13.4% in the base year and 14.1% in the reporting. 2.2% in the basement and 2.3% in the reporting year are discharged for auxiliary personnel.

In the reporting year, a decrease in the specific gravity of the cost of remuneration of support staff for 0.1% and administrative and administrative staff by 0.7% and reduced specific gravity by 0.8% of the cost of labor of fixed personnel.

The constant portion is 99.4% in the base year and 99.97% in the reporting. At the same time, in the reporting year there was an increase in the share of the permanent part by 15.1% and the increase in the largest part of 6776.3 thousand rubles per 6776.3 thousand rubles.

Prizes and other payments in the base year accounted for 0.6%, and in the reporting 0.03%, i.e. There was a decrease in the share of 94.1%.

The fot size in the reporting year grew by 114.4%, i.e. at 6526 thousand rubles. Therefore, the size of the average wages 1 working. Namely by 22.2 thousand rubles. or 122.2%. The average mining of 1 operating increased by 110.2%, which is 89 thousand rubles. / Person.

It can be concluded that the growth rate of labor productivity is ahead of the growth rate of average wages. This contributes to a decrease in the cost of production and as a result of increasing profits.

If the sales of the reporting year of the reporting year is counting on the prices of the base year, you can see a decrease in volume by 23,206 rubles. or 6.1%.

This suggests that if in the reporting year there was no increase in prices, the revenue would be 23206 rubles. less.

The greatest share is retail 95.8%, and the smallest small-winding 0.3%. In the reporting year, changes did not happen.

At the enterprise there are minor Seasonal fluctuations in the volume of services.

Both in the base year, and in the amount of services, it varies almost at the same level.

The coefficient of variation is 0.01 in the base year shows that the loading of the enterprise varies in permissible sizes, because Not exceeds the value of 0.50. In the reporting year, the coefficient of variation remained unchanged.

Such a low value of the coefficient of variation indicates that seasonality has an absolutely not significant impact on the activities of the enterprise.

Material expenses and labor costs are two main elements of which produce the cost of products.

Material expenses are 46.9% of cost in the base year and 45.3% in the reporting year. At the same time, there is a decrease in the reporting year the share of material costs in the cost of products by 1%.

Expenses for labor costs are 12.2% in the base and 13.3% in the reporting year. Their share in the cost of production increased by 1.1%.

The smallest percentage in the cost is accounted for by the amount of accrued depreciation: 0.6% in the base year and 0.7% in the reporting date.

In general, the value of the cost of products increased by 720544 thousand rubles per year. This increase occurred due to the growth of material costs.

Account indicators for 1 rub. Implementation in the reporting year increased by 1 kopecks., Including 1 kopecks. Due to the reduction in total costs

It can be concluded that the increase in cost has occurred mainly due to changes in prices for products.

Profit from the sale of products decreased 768 thousand rubles. and amounted to 9659 thousand rubles. Salo of other income and expenses is negative, i.e. Presents with him a loss, which in the reporting year decreased by 3865 thousand rubles. and amounted to 4527 thousand rubles. Taxable profits decreased by 2873 thousand rubles. and amounted to 3027 thousand rubles.

The loss as a result of the impact of the physical volume of implementation decreased by 729.9 thousand rubles. Changing the loss as a result of price changes for services amounted to +42982 thousand rubles. And as a result of the change in cost, the loss decreased by 46511 thousand rubles. In general, the loss increased by 768 thousand rubles, but the enterprise remained self-sufficient.

Compared to the basic period, profitability decreases economic activity, profitability of sales, assets and capital, which indicates a decrease in the efficiency of the enterprise.

Profit reduction by 768 thousand rubles. In the reporting year led to a decrease in economic profitability by 0.2%. By increasing cost of 20,544 thousand rubles. led to a decrease economic profitability 0.1%.

The level of profitability decreased by 0.3%. This suggests that the enterprise from the level of self-sufficiency has not passed to the level of self-financing.

Absorval assets increased by 10338 thousand rubles. and amounted to 43732 thousand rubles; Current assets for 16461 thousand rubles. and amounted to 53952 thousand rubles; Capital and reserves per 1001 thousand rubles. and amounted to 4674 thousand rubles; A significant increase is observed in Section IV "Long-term liabilities" by 49091 thousand rubles, which amounted to 50012 thousand rubles; There is also a decrease in short-term liabilities by 23293 thousand rubles.

Based on this form, it is possible to estimate the optimality of the structure of the balance of formal features.

When evaluating the structure of the balance on formal features this structure The optimal balance cannot be considered, since not one of the inequalities of the criteria is performed.

The structure of assets at this enterprise is presented in the following percentage: intangible assets - 0.04% in the base year and 0.02% in the reporting (decrease in the share of 0.02%); fixed assets - 18.4% in the base year and 20.3% in the reporting (increase in the share of 1.9%); Other current assets - 28.7% in the baseline and 24.4% in the reporting year (a decrease in the share of 4.3%); reserves of material resources - 0.9% and the base year and 0.7% in the reporting (decrease in the share of 0.2%); in progress - 0.1% in the base year and 0.04% in the reporting (decrease in the share of 0.06%); Finished products and products for resale - 28.1% in the base year and 26.7% in the reporting (decrease in the share of 1.4); Accounts receivable - 16.0% in the base and 14.5% in the reporting year (decline in the share of 1.5%); Cash - 5.2% in the basic and 7.6% in the reporting year (increase in the share of 2.4%); Other current assets - 2.6% in the basic and 5.7% in the reporting year (increase in the share of 3.1%)

According to data, it can be seen that the most significant article in the composition of non-current assets are "fixed assets" - 18.4% in the base year and 20.3% in the reporting and other non-current assets - 28.7% in the base and 24.4% in the reporting year. And in the composition of current assets - finished products and goods for resale - 28.1% in the basic and 26.7% in the reporting year, receivables - 16.0% in the base year and 14.5% in the reporting.

Increasing the turnover coefficient in the reporting period compared with the basis for 3.64 turns indicates an increase in the speed of the OS turnover. And the decline in the reporting period of the duration of 1 turn of 17.3 days, indicates that the company at the enterprise is used effectively. There was a decrease in the loading coefficient in the reporting period by 0.05 rubles. Increased turnover and reduction of the boot factor talk about working capital overruns.

The structure of liabilities in this enterprise is presented in the following percentage: 0.8% and 1.1% - invested capital (rising part of 0.3%); 4.4% and 3.7% - retained earnings (decrease in the share of 0.7%); 0.7% and 51.2% - long-term loans and loans (growth in a share by 50.5%); 0.6% and 0.01% - other long-term obligations (decrease in the share of 0.59%); 32.9% and 0.01% - short-term loans and loans (decrease in the share of 32.89%); 28.3% and 23.6% are payables in front of suppliers and contractors (a decrease in the share by 3.7%); 4.4% and 3.4% are payables for the staff of the enterprise (a decrease in the share of 1.0%); 0.4% and 0.5% - payables in front of the budget (the increase in the share of 0.1%); 27.5% and 16.5% are other payables (decrease in the share of 11.0).

According to the results of the ratio of groups of assets and liabilities, it is possible to draw the following conclusion: at the beginning of the year, 3 inequalities do not coincide and 1 inequality does not coincide at the end of the year, and since at least one of the inequalities does not coincide, the enterprise is either limited to the opportunity to cover debt obligations Asset, or this feature has no. Based on this, you can characterize the liquidity of MOSPRODTORG OJSC as insufficient.

According to the results of the solvency of the enterprise, in the short term, it is possible to draw conclusions that the absolute liquidity ratio at the beginning of the year is 0.1 A at the end of 0.2. In the reporting year, the enterprise can cover its accounts payable by 20% due to money.

The rapid liquidity ratio at the beginning of the year is 0.2%, and at the end of the year 0.4%, this is lower than the normative value. Consequently, the company may not pay off current obligations not only for cash, but also for expected receipts for services rendered.

The current liquidity coefficient at the beginning of the year is 0.6%, and at the end of 1.3%. Therefore, this ratio does not correspond to the regulatory value.

According to the results of the analysis, it can be seen that the enterprise is not to cover its short-term obligations of current assets, therefore, it is insolvent.

According to the results of the analysis of the solvency of the enterprise in the long run, it can be seen that the autonomy coefficient is 0.05% at the beginning of the year and 0.05% at the end, which is much lower than the normative value, therefore, the share of equity is insufficient in the total value of the property of the enterprise.

The financial stability coefficient reaches a regulatory 0.6 at the end of the year. This happened due to an increase in long-term obligations. The proportion of sources of financing that the company can use for a long time for a long time is 60%.

The ratio of the long-term commitments is 0.2% at the beginning and 0.9% at the end of the year. The value of this coefficient exceeds the regulatory value, which means that the enterprise depends on the long-term obligations.

The financing coefficient at the beginning of the year is 0.05% at the beginning and at the end of the year that the financing coefficient is less than 1, this indicates a significant financial risk.

The coefficient of the long-term structure is 9.1 at the beginning of the year and 9.4 at the end. The value of this coefficient also complies with the regulatory value. This means that non-current assets of the enterprise are formed at the expense of long-term capital. Under the results obtained, it can be concluded that the company is insolvent for the long-term perspective.

Based on the analysis of the financial condition of a limited liability company "DI CEPITAL", the following conclusions can be drawn.

During the reporting period, the property of "DI SI CAPITAL" increased by 436,400 rubles, drawing up at the end of 2008 2,589,600 rubles.

Analyzing the structure of the balance of the balance sheet, it was noted that current assets (2007 - 84.3%; 2008 were 83.72%), mainly due to the reserves of finished products and goods for resale The increase in which was 161,400 rubles, as well as at the expense of funds in the current account of the enterprise, the increase in which was 135,500 rubles. An increase in non-current assets has occurred mainly due to fixed assets and intangible assets.

Analyzing the balance structure of the balance sheet, you can draw conclusions about the change in equity and reserves, you can also make some conclusions about financial activities Enterprises based on indicators of short-term liabilities, i.e. loans and loans, debts. The increase in the sources of funds of the enterprise occurred due to the growth of payables by 173,740 rubles. The highest specific weight in liabilities occupy "Capital and reserves" - 61.06%, but there was a decrease in 1.84%. But since this article is at the end of the period of more than 50% of liabilities, then in the case of presentation of the company by all creditors, it will be able to satisfy them.

Proceeds from the sale of enterprise products at the end of 2008 amounted to 4,814,400 rubles. The share of profit in revenue occupies 3.1%, which is 149,400 rubles. The amount of net profit is 73,750 rubles, which is 2.85% of the property of the enterprise.

As a result of such a work, Di Si Capital LLC has achieved certain success: the turnover of assets in days has decreased compared to the previous year by 19.1 days, which indicates the turnover of assets, and therefore their effective use. The turnover of receivables increased from 28.15 to 33.05 turns, and, consequently, customer settlement period decreased by 1.9 days. The rate of turnover of commodity reserves at the end of 2008 was 4.54 turns, which is more than 0.15 compared with 2007. The duration of stocks decreased by 2.7 days, which indicates the effective use of working capital by the enterprise.

The definition of financial stability has shown that the company is absolutely sustainable, since its own working capital of the enterprise fully provides reserves and costs and even exist in excess (at the end of 2007, excess is 288,700 rubles, at the end of 2008 - 225,560 rubles). Also, a number of coefficients were calculated for the characteristics of financial stability. Analysis financial coefficients It showed that the overwhelming majority of them satisfy normal restrictions. The independence ratio has slightly decreased by 0.02%, however, when tracking its dynamics, there is a steady decline (compared to 2006 it decreased by 0.07%). This may be a signal to reduce the financial independence of the enterprise, raising the risk of financial difficulties in future periods. Coefficient of own ratios and borrowed money Gives the most overall assessment of the financial stability of the enterprise. In this case, a minor increase in the coefficient occurred, which indicates the increase in the degree of dependence of the enterprise from external lenders, but the value is within the normal range. Maneuvenence coefficient, i.e. The shares of their own working capital in sources of own funds, decreased by 0.02%, which indicates a slight decrease in the mobility of own funds. The value of the security coefficient and costs in the regulatory limit, but there was a minor decline (0.13%), this suggests that the company still provides stocks and costs by its own sources of financing, but the firm should be paid attention to this.

Characterizing the liquidity of the balance of the enterprise, it can be said that the enterprise's balance sheet is absolutely liquidized, although liquidity ratios have slightly decreased: the current liquidity ratio of 0.06%; the rapid liquidity ratio of 0.04%; The absolute liquidity ratio of 0.02%. Despite the fact that the data indicate some deterioration of the situation, the payment readiness of the enterprise remains high enough, it indicates that the values \u200b\u200bof the coefficients are in accordance with the regulatory. During the reporting period, there is an increase in the most liquid assets to cover the most urgent obligations. By the end of the period increased the magnitude of the rapid assets. Medlenealizable assets (i.e., mainly reserves and costs) during the reporting period exceeded long-term liabilities, the size of which, in fact, was zero.

An analysis of financial results has shown that the share of the cost of sales has decreased by 1.02 points, and commercial expenses in revenue by 0.21 points, and, as a result, an increase in the profits of the reporting period occurred. Such sources of profit as non-engineering income and revenues from other implementation were not attracted. From the analysis of profitability indicators it can be seen that all indicators increased: net profit - 35.95 points; profitability of products - by 1.2 point; profitability of the main activity - by 1.3 points; Profitability of property - by 1.84 points. This speaks about the rational policy of management, by reducing costs, improving the quality of activity.

An analysis of the state of current assets showed that the turnover of assets in days in 2007 is less than in 2008 to 19.1 days - this indicates the acceleration of assets turnover, and, consequently, their effective use. The turnover of receivables increased by 4.9 turns and, as a result, there was a decrease in the period of settlements with customers by 1.9 days. The rate of turnover of inventories increased by 0.15 compared with 2007. The duration of storage of reserves has decreased by 1.8 days, which indicates the effective use of working capital by the enterprise. Indicators characterizing the main stages of funds were also considered. The results of the calculations showed that the enterprise there is a decrease in the total production cycle and the appeal as a whole. The duration of the operational cycle has decreased by 3.7 days, and the duration of the financial cycle by 4.21 days. Reducing the operational and financial cycles in the dynamics is considered as a positive trend.

3. Conclusions and suggestions on the results of the analysis

3.1 The main conclusions based on the results of the analysis

As a result of the analysis of the satisfactory content of the Balance structure of LLC Puls, substantial deviations of the enterprise's indicators were identified from established by the Federal Office for the insolvency cases of criterion values. However, it is impossible not to note the positive trend, outlined in 2005 and 2006, to improving these indicators in the dynamics. For example, the current liquidity indicator has a low value at the end of the period (the rate of the indicator is 2), and the dynamics of the absolute indicator of the enterprise - own working capital, its financial sustainability, indicates a positive trend of the growth of its own funds invested in current assets.

The value of the security indicator is own working capital are low enough and deviate from the level established by the Federal Office for Insolvency Affairs (according to the disposal of the Federal Department for Insolvency Affairs (Bankruptcy) of August 12, 1994 No. 31-p) by 0.0019, which is approximately 23% of the actual The values \u200b\u200bof the indicator at the end of the analyzed period.

The coefficient of the ratio of borrowed and own funds characterizes the financial stability of the enterprise. It shows that Pulse LLC has more funds raised than their own. The permissible level of dependence is determined by the working conditions of each enterprise and, above all, the speed of revolutions.

Exit from the current situation, due to the elimination of part of material and production reserves. Given that, in accordance with the current legislation, the tax on property tax is taken from the entire set of basic and working capital, the enterprise LLC "Pulse" must be rid of the employed assets. The company recommends organizing inventory of material and production reserves. According to the results of this inventory, stale reserves and implications should be sold, this will allow:

Enhance the maneuverability of the functioning capital of enterprises and working capital as a whole.

Improve the financial stability of the enterprise.

Translate a part of less liquid assets (production reserves) to the most liquid (cash at the current account).

Reduce property tax paid by the enterprise in the budget.

Analysis of financial sustainability showed that the financial independence of Pulse LLC was somewhat worsened for the period 2004-2006.

The turnover coefficient of the company's stocks decreased by more than 2 times (in 2004 he had a value of 14,232, in 2005 - 8.077, in 2006 - 6.075).

Reducing the turnover ratio showed that a certain drop in the financial sustainability of the enterprise LLC "Pulse", since there was an increase in funds related to the least liquid balance sheet (production reserves) due to a corresponding decrease in more liquid assets.

These data and conclusions indicate the low efficiency of LLC Pulse, i.e. About loss.

3.2 Proposals for improving the main economic indicators

The main directions of improving the financial activities of Pulse LLC after the analysis are the following areas:

1. Reorientation of the enterprise to trade fundamentally new or improved products.

2. The elimination of cash deficit by refusing to trade by those types of products that have recently been not in demand and settled in stock.

3. Reducing excess reserves.

4. Sale of part of permanent assets (fixed assets).

5. Obtaining long-term financing.

6. Improvement of work on recovery of receivables.

7. Control over the status of settlements with customers on overdue debts.

8. Orientation if possible for a greater number of buyers in order to reduce the risk of non-payment by one or more large buyers.

9. Control over the ratio of receivables of accounts payable: a significant excess of receivables and payables makes the threat of financial sustainability of the enterprise and makes it necessary to attract expensive bank loans.

10. Using the method of providing discounts with long-term payment.

11. Revision of goods for goods and, if possible, conducting a marketing research in order to identify the level of effective demand.

The event that improves the efficiency of the enterprise, improving its financial condition, can serve as the sale of fixed stock funds, most of whose area is empty for two years.

The exit of the current situation of the ineffective structure of the enterprise's balance may appear to find reserves to reduce costs, which will allow respectively to reduce and prices for goods without loss for the enterprise (with the constant profitability of these goods).

For example, it is possible to reduce permanent expenses LLC "Puls" due to the reduction of the inflated control apparatus.

In addition, another event for improving indicators may be the reorientation of the Pulse Trading Enterprise LLC on fundamentally new or improved types of goods, which presents enough high requirements to the company's marketing service. Marketing service LLC "Pulse" can be held marketing researchFor more accurate identification of the needs of the market, the definition of its capacity, as well as research, on the basis of which, the enterprise can develop new market segments with the goods already existing in its assortment.

In the near future, the most effective way to stabilize the liquidity of the enterprise is the reduction of excess reserves, carrying out work to determine the rational volume of goods in stock. At the same time, it is necessary to carry out work on finding reliable suppliers, which will allow the enterprise to abandon the purchase of materials and raw materials in the future and release a part of working capital related to excess reserves.

The rental of unused areas and the implementation of a part of fixed assets lowered in the economic activity of the enterprise will reduce the permanent assets of the enterprise and increase the share of the most liquid part of assets, which will have a positive effect on the company's solvency.

In order to prevent the current unprofitability of Pulse LLC, it is proposed to develop a system for economic incentives.

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Translation of "results of the analysis" into English

Other translations

By Recommendations were developed to compile a description of the posts of senior workers.

The Analysis. Resulted in Recommendations Which Will Be Incorporated Into Post Description Mapping for Office-Holder Posts.

The Analysis Resulted in Recommendations Which Will Be Incorporated INTO POST Description Mapping for Office-Holder Posts. "\u003e

However, judging by the results of the analysisThe main problem with late release lies in delays in the preparation of documents in operational departments.

Based ON. the Analysis CARRIED OUT , However, The Major Problem with Timeliness Is Delay At The Level Of Substantive Divisions in Finalizing Documents.

The Analysis CARRIED OUT, HOWEVER, THE MAJOR PROBLEM WITH TIMELINESS IS DELAY AT THE LEVEL OF SUBSTANTIVE DIVISIONS IN FINALIZING DOCUMENTS. "\u003e

By the results of the analysis The mission proposes to reorganize the group part and change their names in order to reflect the actual operational structure.

The Mission Proposes The Reconfiguration and Renaming Of Existing Units Within The Section to Reflect the Actual Operational Structure As a Result of the Review .

A Result of the Review. "\u003e

For each sub-item of Article 20-bis, the Secretariat presented the main provisions of the draft text of the fourth session, which, according to the results of the analysisThe best reflects its content.

For Each Subparagraph of Article 20 BIS, The Secretariat Have Listed The Main Provisions of the Fourth Session Draft Text That according to its Analysis , Reflect Best Its Content.

According to ITS Analysis, Reflect Best Its Content. "\u003e

According to the results of the analysis The local public organization "Center for Human Rights" program has not been fully implemented due to the lack of sufficient functional, technical, financial and personnel resources.

The Centre for Human Rights, A Local Voluntary Association, found That The Programme Had Not Been Fully Implemented Because Of A Shortage Of Functional and Technical Resources, Funding and Staff.

Found That The Programme Had Not Been Fully Implemented Because Of A Shortage Of Functional and Technical Resources, Funding and Staff. "\u003e

By the results of the analysis Ways were also proposed to improve the format of the proposed service and the news delivery mechanism, and also identified the interest of users in the expansion of the product range, which could be offered on an alternative basis.

IT. HAS ALSO SUGGESTED WAYS OF IMPROVING THE SERVICE "S FORMAT AND DELIVERY MECHANISM, AND DEMONSTRATED USERS" INTEREST IN EXPANDING their Range of Products That Could Be Made Available AS An Option.

IT HAS ALSO SUGGESTED WAYS OF IMPROVING THE SERVICE "S FORMAT AND DELIVERY MECHANISM, AND DEMONSTRATED USERS" INTEREST IN EXPANDING their Range of Products That Could Be Made Available AS An Option. "\u003e

KSI considered three options, each of which ensured the preservation of the integrity of the system of accounting units in the Kyoto Protocol, after which the results of the analysis Cost efficiency The option was selected, on the basis of which a new coherent recovery procedure was developed arbitrarily annulled data.

The Cab Considered Three Options, Each Maintaining The Integrity of Accounting Of Kyoto Protocol Units and Following a COST-BENEFIT ANALYSIS , The Option Chosen Served As A Foundation for the Establishment of a New Agreed Procedure to Reverse Voluntary Cancellations.

A COST-BENEFIT ANALYSIS, THE OPTION CHOSEN SERVED AS A FOUNDATION FOR THE ESTABLISHMENT OF A NEW AGREED PROCEDURE TO REVERSE VOLUNTARY CANCELLATIONS. "\u003e

Currently, the Technical Committee is evaluating regional experience in the development of such rules and the results of the analysis Provide acceptance, approval, documentation and publication of these norms for Panama.

The Technical COMMITTEE IS Currently Evaluating Regional Experiences Of Standards and Howe, ON the Basis of the Analysis , Panamanian Standards Should Be Adopted, Approved, Docucented and Published.

The Basis of the Analysis, Panamanian Standards Should Be Adopted, Approved, Documented and Published. "\u003e

By the results of the analysis It was found that the secretariat employees are in a less favorable position when it comes to mobility, which is due primarily to four factors: family limitations; informal contacts and connections; the need to have a sponsor; and initiative in career planning.

The Analysis. Revealed That Women Staff in The Secretariat Are Likely to Be at a Disadvantage with ReSpect to Mobility, Owing to Four Key Issues: Family Constraints; Informal Networking; The Need to Have a Sponsor; And Proactive Career Planning.

The Analysis Revealed That Women Staff in The Secretariat Are Likely to Be at a Disadvantage with ReSpect to Mobility, Owing to Four Key Issues: Family Constraints; Informal Networking; The Need to Have a Sponsor; And Proactive Career Planning. "\u003e

By the results of the analysis It was determined that when weaning with a cargo ship was damaged by one of the four solar batteries of the "Spectrum" module and the outer radiator of the thermal control system.

IT Was Determined. from The Results of the Analysis Performed Thanktr Module And The External Radiator of the Heat Regulation System Had Been Damaged.

From The Results of the Collision With The Transport Craft One of The Four Solars of the Spektr Module and the External Radiator of the Heat Regulation System Had Been Damaged. "\u003e

5.1. Evaluation key indicators

According to the results of the analysis, it is necessary to allocate and group the main indicators of the financial situation and the results of the activities of the analyzed enterprise in the following order:

1) a group of indicators having exceptionally good values;

2) a group of indicators having normal or close to normal values;

3) a group of indicators having unsatisfactory values;

4) A group of indicators critically characterizing the financial position.

5.2. Evaluation of the financial condition for consolidated criteria

Given the diversity of financial processes, the multiplicity of financial state indicators, differences in critical assessments, the emerging degree of deviation from them the actual values \u200b\u200bof the coefficients and arising in connection with these difficulties in the overall assessment of the financial situation of the Organization, we recommend to produce a baller assessment of the financial condition.

The essence of this technique lies in the classification of organizations by level financial risk, i.e. any analyzed arrangement can be attributed to a specific class depending on the "scored" number of points based on the actual values \u200b\u200bof its financial coefficients (Table 12).

1st grade- These are organizations with absolute financial stability and absolutely solvent, whose financial condition allows you to be confident in timely fulfillment of obligations in accordance with the treaties. These are organizations having a rational structure of property and its sources, and, as a rule, quite profitable.

2nd class - These are organizations with a normal financial condition. Their financial indicators are generally very close to optimal, but for individual coefficients is allowed some lag. These organizations, as a rule, the non-optimal ratio of its own and borrowed sources of funding, shifted in favor of borrowed capital. At the same time, there is an advanced increase in accounts payable compared with the increase in other borrowed sources, as well as compared with the growth of receivables. These are usually profitable organizations.

3rd class- These are organizations whose financial condition can be estimated as average. When analyzing an accounting balance, "weakness" of individual financial indicators. They either solvency is on the border of the minimum permissible level, and financial stability Normal, or vice versa - an unstable financial condition due to the predominance of borrowed sources of financing, but there is some current solvency. With relationships with such organizations, there is hardly a threat to the loss of funds, but the fulfillment of obligations is submitted by dubious.

Table 12. Borders of the classes of organizations according to the criteria for evaluating the financial condition

	Conditions for lower criteria
1st grade	2nd class	3rd class	4th grade	5th grade
		0.7 and more - 14 points	0.69 - 0.5 from 13.8 - 10 points	0.49 - 0.3 from 9.8 - 6 points	0.29 - 0.1 from 5.8 - 2 points	Less than 0.10 from 1.8 to 0 points
	For each hundredth (0.01) reduction is removed by 0.2 points	1 or more - 11 points	0.99 - 0.8 from 10.8 - 7 points	0.79 - 0.70 from 6.8 - 5 points	0.69 - 0.60 from 4.8 - 3 points	0.59 or less from 2.8 to 0 points
		2 or more - 20 points from 1.7 to 2 - 19 points	1.69 - 1.5 from 18.7 to 13 points	1.49 - 1.3 from 12.7 to 7 points	1.29 - 1.00 from 6.7 to 1 point	0.99 and less from 0.7 to 0 points
	For each hundredth (0.01) reduction is removed by 0.2 points	0.5 or more - 10 points	0.49 - 0.40 from 9.8 to 8 points	0.39 - 0.30 from 7.8 to 6 points	0,29 – 0,2	Less than 0.2 from 3.8 to 0 points
Continuation of table 12.
Financial status indicators	Conditions for lower criteria	Class borders according to criteria
1st grade	2nd class	3rd class	4th grade	5th grade
	For each hundredth (0.01) reduction is removed by 0.3 points	0.5 or more - 12.5 points	0.49 - 0.4 from 12.2 to 9.5 points	0.39 - 0.2 from 9.2 to 3.5 points	0.19 - 0.1 from 3.2 to 0.5 points	Less than 0.1 - 0.2 points
	For each hundredth (0.01), the increase is removed by 0.3 points	Less than 0.7 to 1 - from 17.5 to 17.1 points	1.01- 1.22 from 17 to 10.7 points	1.23-1 1.44 from 10.4 to 4.1 points	1.45-1.56 from 3.8 to 0.5 points	1.57 or more from 0.2 to 0 points
The coefficient of autonomy	For each hundredth (0.01) reduction is removed by 0.4 points	0.5 - 0.6 or more from 10-9 points	0.49-0.45 from 8 to 6.4 points	0.44-0.40 from 6 to 4.4 points	0.39-0.31 from 4 to 0.8 points	0.30 and less - 0.4 to 0 points
	For each hundredth (0.1) reduction is removed by 1 point	0.8 or more - 5 points	0,79-0.70 - 4 points	0,69-0.60 - 3 points	0.59-0.50 - 2 points	0.49 or less - 1 to 0 points
Borders of classes		100 - 97.6 points	94.3 -68.6 Ball	65.7 - 39 points	36.1- 13.8 points	10.9 - 0 points

4th grade- These are organizations with an unstable financial condition. With relationships with them there is a certain financial risk. They have an unsatisfactory capital structure, and solvency is on the lower border of permissible values. Profit in such organizations, as a rule, is missing at all or very insignificant, sufficient only for mandatory payments to the budget.

5th grade- These are organizations with a crisis financial condition. They are insolvent and absolutely unstable from a financial point of view. These enterprises are unprofitable.

A summary assessment of the financial condition of the analyzed organization to submit to the table. 13.

Table 13.. Financial level classification

Financial status indicators	For the beginning of the year	At the end of the year
Fact. The value of the coefficient	Number of points	Fact. The value of the coefficient	Number of points
The ratio of absolute liquidity
Coefficient of intermediate liquidity
The coefficient of current liquidity
The share of working capital in assets
SC. Property Coefficient
Financial dependence coefficient
The coefficient of autonomy
Coefficient of long-term financial independence
TOTAL

According to the calculations, determine the class of financial condition of the organization's analyzed.

5.3. Credit analysis analysis

In this subsection, it is necessary to conduct an analysis of the creditworthiness of the analyzed organization according to the method of Sberbank of Russia (utensils. Rules for the provision of loans legal entities Sberbank of Russia and its branches of December 8, 1997 No. 285-P).

Table 14.. Assessment of the company's creditworthiness

Indicator	Actual value	Category	Weight indicator	Calculation of the amount of points	Reference: Indicator Categories
1 category	2 category	3 category
The ratio of absolute liquidity			0,11		0.2 and above	0,15-0,2	less than 0.15
Coefficient of intermediate liquidity			0,05		0.8 and higher	0,5-0,8	less than 0.5.
The coefficient of current liquidity			0,42		2.0 and higher	1,0-2,0	less than1.0
Financing coefficient			0,21		0.6 and above	0,4-0,6	less than 0.4.
Profitability of the main activity (sales)			0,21		0.15 and above	less than 0.15	Nennub.
TOTAL	H.	H.

In accordance with the Sberbank methodology, borrowers are divided depending on the amount received by three classes:

· First-class - lending of which is no doubt (the amount of points from 1 to 1.05);

· Second class - lending requires a weighted approach (over 1.05 but less than 2.42);

· Third grade - lending is associated with increased risk (2.42 and higher).

5.4. Bankruptcy probability forecast

It is necessary to select a method and evaluate the likelihood of bankruptcy of the analyzed organization.

Methods for estimating the probability of bankruptcy

The reduced system of indicators of an assessment of the threat of bankruptcy of the enterprise can be expanded taking into account the characteristics of its financial activity and diagnostic purposes.

With the release of the insolvency (bankruptcy) law, a methodological position according to the assessment of the financial condition of enterprises and the establishment of an unsatisfactory balance sheet structure (No. 31-p dated 12.08.1994) was not canceled.

According to this methodological position, the assessment of the unsatisfactory structure of the balance was carried out on the basis of three indicators:

1) the coefficient of current liquidity ( TO T.L.);

2) coefficient of own funds ( TO Web.);

3) The loss coefficient (recovery) of solvency, the calculation of which is presented in Table. one:

Table 15.. Assessment of the structure of the balance

The coefficient of recovery of solvency is calculated for a period of 6 months, and the loss coefficient is for a period of 3 months. In the formula for calculating the coefficient of current liquidity, it matters at the end of the period, then we take δ - an absolute deviation (the value at the beginning of the year is minus at the end of the year). If the coefficient TO B Takes up< I. - This indicates that the organization has no real opportunity to restore solvency in the near future.

It is calculated that in order for the coefficients of the current liquidity and the provision of their own working capital with optimal (\u003e 2 and\u003e 0.1, respectively), the organization losses should be up to 40% of the amount of current assets, and long-term loans and loans should be equal to 80 % of the sum of current assets. But such a balance sheet is practically not found (at least in relation to long-term liabilities).

Concerning foreign experience In terms of forecasting the likelihood of bankruptcy, the financial analyst William Beaver proposed its own system of indicators to assess the financial condition of the enterprise in order to diagnose bankruptcy. The Baiver Indicator System is shown in Table 2

Table 16. System of indicators of Biver

Name of the indicator	Payment	The value of the indicator
Group 1 Normal Financial Position	Group 2 Unstable Financial Position	Group 3 Crisis Financial Position
1. Bivere coefficient		More than 0.35	From 0.17 to 0.3	From 0.16 to -0.15
2. Current liquidity ratio		2 < Kтл < 3,2	1 < Kтл < 2	KTL<1
3. Economic profitability,%		6-8 or more	5–2	From 1 to - 22
4. Borrowed Capital Coefficient		Less than 0.35	0,40–0,60	0.80 and more
5. SOS Property Coefficient		0.4 or more	0,3–0,1	Less than 0.1.

In estimating the probability of bankruptcy, a two-factor model is used. For it, two key indicators are chosen, on which the probability of bankruptcy of the organization depends. In American practice, an indicator of current liquidity is used to determine the final indicator of bankruptcy (δ) and the specific weight indicator of borrowed funds in assets. They are multiplied by the appropriate constants - the weight coefficients defined by practical calculations (A, P, Y). As a result, the following formula is obtained:

a \u003d -0.3877; p \u003d -1,0736; y \u003d +0.0579.

If, as a result of the calculation, Z 2< 0, то вероятность банкротства невелика. Если же Z 2 > 0, then there is a high probability of bankruptcy of the analyzed enterprise.

It should be remembered that in Russia, in contrast to the United States, other financial conditions, other inflation rates, other lending conditions, other tax system, other labor productivity, fund-student, etc.

The two-factor model does not provide comprehensive assessment The financial situation of the organization. Therefore, foreign analysts use a five-factor model (Z 5) Edward Altman. It is a linear discriminant function, the coefficients of which are calculated according to the study of a set of 33 companies.

Z 5 \u003d 1,2 (current assets - current obligations / all obligations) + 1.4 (retained earnings / all assets) + 3,3 (profit before tax / all assets) + 0.6 (market value of ordinary and preferred shares / All assets) + 0.9999 (revenue from sales / all assets)

If z 5< 1,8 - вероятность банкротства очень высокая;

1,81 < Z 5 < 2,7 - вероятность банкротства средняя;

2,8 < Z 5 < 2,9 - банкротство возможно, но при определенных обстоятельствах;

Z 5\u003e 3.0 - very low probability of bankruptcy.

This model is applicable in Russia only for joint-stock companies whose shares are freely sold in the securities market, i.e. Have a market value.

There is another model of Altman in 1983, which can be used for settlements not only in open-type joint-stock companies, and for all manufacturing enterprises. It also includes five indicators, but with other constants:

where x 1 is the ratio of its own turnover capital to the magnitude of the current assets of the enterprise, i.e the coefficient of SOS;

x 2 - the ratio of net profit to the value of the company's assets, i.e. economic profitability, coefficient;

x 3 - the ratio of profit before taxation to the value of the company's assets - the coefficient;

x 4 - the ratio of equity of equity to the magnitude of the borrowed capital of the enterprise - the coefficient;

x 5 - the ratio of revenues from the sale of products to the value of the company's assets, i.e. Resource reported - coefficient.

If the value of the indicator z f< 1,23, то вероятность банкротства очень высокая. А если Z F > 1.23, the bankruptcy of the company in the near future does not threaten.

It should be noted that the weighting coefficients constants in these models are calculated on the basis of the financial conditions in the United States. It would be logical to analyze a number of bankrupt russian enterprises and calculate the constant coefficients corresponding to the Russian economy. However, the bankruptcy of many Russian organizations is primarily associated with the involvement of their non-payment, due to the influence of external, practically non-controlled factors. And to predict any economic situation, including bankruptcy, it is possible only by owning information about the trends of changes in external factors. Of course, a more accurate result can be obtained in relatively stable economic conditions.

In the Republic of Belarus also developed a discriminant factor model for diagnosing risk of bankruptcy enterprises:

Zb \u003d 0.111 x 1 + 13,239x 2 + 1,676x j + 0.515x 4 + 3.80x 5, (19)

Where x 1 is the ratio of their own working capital to the magnitude of the current assets of the enterprise, i.e. SOS security coefficient;

x 2 - the ratio of current assets to the magnitude of non-current assets of the enterprise;

x j - the ratio of revenue from the sale of products to the value of the company's assets, i.e. resource statement;

x 4 - the ratio of net profit to the value of the company's assets, i.e. Economic profitability,%

x 5 - the ratio of the value of equity to the magnitude of the cumulative capital of the enterprise, i.e. The coefficient of autonomy

If: the value of zb\u003e 8, then the company does not threaten bankruptcy;

5 < ZБ < 8, то риск банкротства есть, но небольшой;

3 < ZБ < 5, то финансовое состояние среднее, риск банкротства имеется при определенных обстоятельствах;

1 < ZБ < 3, то финансовое состояние неустойчивое, существует реальная угроза несостоятельности в ближайшее время;

Zb< 1, то такое предприятие – банкрот.

In conclusion, the main conclusions should be reflected in all sections and recommendations on changing the identified most important problem situations.

List of used literature

1. Tax Code of the Russian Federation (Part Two): The federal law RF of 05.08.2000 No. 117-FZ. ConsultantPlus: versionProf, 1998-2002.

2. Glazov M.M. Analysis and diagnosis of financial and economic activity of the enterprise: studies. For universities. - St. Petersburg: "Andreevsky ID", 2006. - 448 p.

3. Kovalev V. V. The financial analysis. - M.: Finance and Statistics, 2000. - 418 p.

4. Savitskaya G. V. Analysis of the economic activity of the enterprise. - M.: Infra-M, 2006. - 330 p.

5. Danilov E. N., Abarnikova V. E., Shipikov L. K. Analysis of financial activities in budget and scientific institutions: studies. benefit. - Minsk: Ecoperos, 2005. - 336 p.

6. Dontsova L. V., Nikiforova N. A. Analysis of financial statements: textbook. - 3rd ed., Reab. and add. - M.: Publishing House and Service, 2005. - 368 p.

Methodical instructions for the term project on the discipline "Analysis and diagnosis of financial and economic activities of the enterprise" on the topic: "Diagnosis of economic potential commercial enterprise»

Compiler Makarova Svetlana Mikhailovna

Corrector E.S. Denisov

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