Rizoev F.U. Classification of methods for assessing financial condition commercial organizations// Economics and business: theory and practice. - 2015. - No. 10. - pp. 117-121.

CLASSIFICATION OF ASSESSMENT METHODSFINANCIAL CONDITION OF CO. M MERCHANT ORGANIZATIONS

UGH. Rizoev, master

Volzhsky Humanitarian Institute (branch) of the Federal State Autonomous Educational Institution of Higher Professional Education " VolSU »

(Russia, V. Olzhsky)

Annotation. Financial condition is the most important characteristic of the business O ity of a commercial organization. For its objective and comprehensive assessment, developed and used in practicevarious activitiesmethods and models. This article proposes a classification of methods for assessing the financial condition of organizations depending on And depending on their belonging to the selected approaches - detailed or systemic.

Keywords: financial condition, assessment methods, detailed approach, systematic approach.

The financial condition of an organization is a complex economic category, x A characterizing for a specific date A the presence of various assets at the enterprise, the size of liabilities, the ability of the subject To that management function and ra h cheat on me Yu the external environment, the current and future possibility of satisfaction e make credit claims And tors, as well as its investment attractiveness.

Accordingly, ffinancial status – most important characteristic activities of a commercial organization, characterizes Yu a system of financial indicators, each of which reflects the real and potential capabilities of the economy Yu common subject. To evaluate various A investors and financial condition in general, economic science has developed extensivenal methodological tools. About the object thorough and comprehensive assessment, is neo b required condition when developing a certificate financial policy of the organization A tion, and effective managementfinancial I activity, as well asdeveloping recommendations A tions necessary forsieve stabilization a tions . Choosing the right indicators and indicators and theriev, objective taking into account influencing factors to tori, correct interpretation of the obtained values ​​– neo b necessary conditions for the results of the assessment to be T reflect the real picture of financial O standing of the enterprise.

Issues of assessing the financial position me neither me, and development of appropriate methods about dov, for various representatives of Russian economic science. Among them , first of all, it is necessary to e pour people like V.V. Bocharov, A.F. Ionova, V.V. Kovalev, E.V. Negashev, G.V. Savitskaya, R.S. Saifulin, N.N. Selezneva, A.D. Sheremet etc. These problems continue to become the subject of research O knowledge of novice scientists, since they do not lose relevance today.

As a result, today ra h so much work done various met about dov, allowing to assess the f And financial status of the organization with thator some other level of detail, what it's about at felt the need to systematize them.

Analysis of different points of view on yes n This problem allowed us to formulate two main approaches to assessing finances about state:

- detailed – by assessing each of the identified components of the financialstates separately, based on owls set of indicators;

- system – based on the int methodology e central assessment, which makes it possible to generalize the results and determine the basis V new strategic alternatives financial O new solutions for a specific enterprise and yatiya [1].

Within the framework of a detailed approach, two groups of methods are distinguished:

— methods qualitative analysis , basis in whose main purpose is to study e establishing the structure and dynamics of articles X Galter reporting, identifying trends n tions of their changes in the short term R prospective period and determination of the reasons that determined them;

— coefficient analysis methods, oh s whose new purpose is to With four relative indicators – finance O new coefficients characterizing ur o ven dost and changes in the specified parameters and their dynamics for a certain retrospective V ny period in certain areas of the financial position of the enterprise. At the same time, the allocation I There are four main groups of such displays A tels (liquidity ratios and pl A ability, financial stability O sti; profitability and business activity), each of which, in turn, is assessed And is determined by calculating a set of specific coefficients.

Based on methods, in the presented groups, to a fairly complete extent and but evaluate the individual components of f And financial status of the enterprise. However, each of them there are some shortcomings T ki and restrictions that are neutralized when they are complex With nom application. That's whyonly a systematic approach using integral methodology assessments provided V makes it possible to determine in one A created a variety of different contents A niyu, units of measurement, parameters. This simplifies the assessment procedure, and sometimes I there is only one possible option its implementation and provision of volume To tive final conclusions.

Totality existing in the present I'm currently methods of integral assessment of finance O The state of the organization can be classified according to the following enlarged groups:

– m models for predicting possible bankruptcy of an enterprise for a given time constant interval;

– scoring and rating methods;

– method of assessing financial condition,developed on the basis of the theory of fuzzy plurals about gestures

Each of the identified groups, in turn, is characterized by the presence of owls O a combination of different methods, each of which has its own specific application e nia, and for which it is advisable to use call for a more detailed degree of gradation.

Thus, forecasting models are possible O th enterprise bankruptcy, in my own opinion can be divided into three main and yes:

– formalized, i.e. based on the use of formalized A representatives representing the financial system O new coefficients, the level and dynamics of which indicate a possible A the onset of bankruptcy of the organization (met O wild Federal service on financial recovery and bankruptcy of Russia [ 2 ]; Ruler technique b of the Russian Federation, approved in the Rules for conducting financial analysis by an arbitration manager [ 3 ]);

– informal, involving the analysis of qualitative indicators, soda R list of critical values ​​for assessing possible bankruptcy (recommended n datsiya Kom i theta for generalizing UK audit practice, A-model J. A r genti);

– complex, among which the following are widely known: two-, five- i-, sem and factor Altman models; model U. Beaver; Chesser coefficient; coefficient and coefficient of J. Fulmer, A. Lisa, M. Taffler . Modification of foreign integral tools for forecasting bankruptcies T conditions with adaptation to domestic conditions And These are the five-factor model of R.S. Saifulina, G.G. Kadykova , Altman model of scientists of the Irkutsk economic school, six-factoary mathematical model of O.P. Zaitseva and others.

Point-rating methods are used are registered on the selected, within each of them, certain important parameters T ditch (indicators) of financial, economic and production activities of enterprises And yatiya. Data on pr about production potential, product profitability, efficiency of use of production and financial resources, condition and placement of funds, sources And how their financing and other indicators e Poles of the enterprise [ 4 ]. This group hara To terized by a large number of asecond methods, therefore, within each of them there is a choice of parameters, different Yu from others. Within this group, it is advisable to highlight D.’s technique. Dyurana, methodology for a comprehensive assessment of the INEC company,assessment methods G.V. Savitskaya, spectrum-point analysis by A.N. Salova and V.G. Maslova; models comprehensive rating about howl assessment of V.I. Makarieva and L.V. Andre e howl [5] and many others. etc. The common thing that unites all methods into one group is that And assignment to the received actual data of a certain number of points from the last e by summing them up over all displays A telami and ranking of enterprises, ref. O from the result obtained, according to the definition e lennyh groups (classes, ratings).

It should be noted that the methods e ral assessment of the first two selected groups (bankruptcy forecasting models t va i point-rating methods) gender in Chile access precisely widespread in their practical use, thereby proving their O worthiness. However, two significant drawbacks can be identified that are inherent in these m e todam. Firstly, they are all based on standardization of the situation when, according to the results b tatam assessment researcher assigns anal And oriented enterprise to a specific group, i.e. looks for similar, analogous cases and does not take into account uniqueness. Secondly, the set of indicators used b studied in one method or another, for evaluation, clearly defined , i.e. no choice. B Moreover, a number of parameters are s becomes inaccessible for precise measurement, and then a subjective component inevitably appears in its assessment, expressed by e clear assessments such as “high”, “not h cue", "most preferred", "highly expected", etc. Many fina n owl indicators do not have clear norms And formation and strongly depend on the sphere of activity b of the enterprise, and in such cases they often resort to expert assessments.

To take into account such “individualities” a method for assessing financial O standing, developed on the basis of the theory of fuzzy sets, which in this and from traces a nii allocated to a separate group. This method, according to its developers And kov, is “adequate not only real And well of the object of study, but also specific e Chinese characteristics of the cognizing subject, as well as the formally outlined boundaries of A personal information is uncertain about sti" [6] , and also makes it possible to select indicators included in the int. e ral indicator for assessing financial condition.

Thus, in result of the O th research wasjustified class And identification of existing methods for assessing the financial condition of commercial organizations A nizations, which is presented in the figure.

Bibliography

1. Muravyova N.N. Methodology for assessing the investment potential of commercial bodies And tions: A complex approach // Economic analysis: theory and practice. 2015. No. 42(441). pp. 52–66.

2. Anti-crisis management: methodological manual / V.I. Orekhov, K.V. Baldin , T.R. Orekhova. – M.: Infra-M, 2009. 544 p.

3. Analysis economic activity organizations: methodological manual / E.N. D and Nilov, V.E. Abarnikova, L.K. Shipikov . – 2nd ed. – M.: Book House, 2010. 336 With .

4. Shegurova V.P. , Leushina E.V. Comparative characteristics of various remediation techniques th ting assessment of financial condition industrial enterprise// Economic science and practice: materials III international scientific ko sf . (Chita, April 2014). – Chita: And from Publishing house Young Scientist, 2014. P. 80– 84.

5. Makarieva V.I. , Andreeva L.V. Analysis of financial and economic activities of the body And tions. – M.: Finance and Statistics, 2004. 264 With .

6. Nedosekin A.O. Application of fuzzy set theory to financial analysis d acceptance. URL: http://www. aup. ru / articles / finance /8. htm ( date of access: 09.12.2015 G.)

CLASSIFICATION OF METHODS OF ASSESSING THE FINANCIAL COND I TION COMMERCIAL ORGANIZATIONS

FU Rizoev, graduate student

Volzhsky humanitarian institute (branch) of the Volgograd State university

(Russia, Volzhskiy)

Abstract. Financial condition is an essential characteristic of a commercial organization.For its objective and comprehensive assessment developed and used in practice of different met h ods and models. In this article offered the classification of methods for assessing the financial co n dition of the organizations depending on their belonging to the selected approaches – detailed or syste m atic.

Keywords: financial condition, assessment methods, detailed approach, systematic approach

The financial condition of an enterprise is a complex indicator that reflects the overall results of its activities. It contains a system of indicators reflecting the availability of financial resources on a specific date, their sufficiency, structure and efficiency of use of economic activities. Users of this information are suppliers, buyers, government agencies, banking and credit institutions, investors, and owners.

The main source of information for analyzing the financial condition is the financial statements of the enterprise (balance sheet and form No. 2 “Profit and Loss Statement”). The balance sheet is an economic grouping of the enterprise's funds (assets) and the sources of their formation (liabilities).

Balance sheet assets according to their composition, they are divided into basic (material and monetary or equivalent to them) and circulating.

Fixed assets(1 section).

In section 1, intangible assets and fixed assets are highlighted. Fixed assets are reflected in the balance sheet at their residual value. Unfinished construction is highlighted. Long-term financial investments: securities, investments in subsidiaries.

Current assets(Section 2).

In section 2: inventories - raw materials, work in progress, finished goods, deferred expenses. VAT on purchased assets. Cash – accounts receivable, short-term financial investments and cash.

Passive.

Capital and reserves (enterprise own funds)(section 3):

Authorized capital;

Additional capital (share premium, revaluation of fixed assets);

Reserve capital;

Undistributed profit (uncovered loss).

long term duties(section 4):

Loans (repayment period over 12 months).

Short-term liabilities for which payments are expected within a year(section 5):

Loans and credits;

Accounts payable;

Debt to participants for dividend payments.

Full reporting of the enterprise is prepared at the end of the year with all appendices. Interim reporting is quarterly and is presented only by the balance sheet and the 2nd form. Form 2 (profit and loss statement) contains information:

1) about revenue from the sale of products or services.

2) about the costs of production, revenue (excluding turnover taxes).

3) financial result from product sales.

4) financial result from other sales (excess property).

5) income from non-operating operations.

6) expenses from non-operating operations.

7) profit before tax or total financial result.

8) income tax.

9) retained earnings.

Financial analysis includes the calculation of a large number of indicators, the main ones, which reflect the overall results of the use of financial resources, are given below:

1. Non-payments characterize the solvency of the enterprise or the policy of management to pay its obligations. It is advisable to measure non-payments in days. The average loan repayment period is calculated as follows.

conducting

At present, when enterprises are becoming increasingly independent and bear full responsibility for the results of their production and economic activities to co-owners (shareholders), employees, banks and creditors, the importance of analyzing the financial condition of an enterprise in a comprehensive analysis of activities has increased.

Finance is a set of economic monetary relations that arise in the process of production and sale of products, including the formation and use of cash income, ensuring the circulation of funds in the reproduction process, organizing relationships with other enterprises, the budget, banks, insurance organizations, etc.

Based on this, financial work at the enterprise is, first of all, aimed at creating financial resources for development, in order to ensure increased profitability, investment attractiveness, i.e. improving the financial condition of the enterprise.

Financial condition is a set of indicators that reflect the availability, placement and use of financial resources.

The market economy contributes not only to strengthening, but also to a qualitative change in the role of financial analysis, which is becoming the main method for assessing the financial condition of an enterprise. It allows you to identify the efficiency of resource use, assess the profitability and financial stability of an economic entity, establish its position in the market, and also quantitatively measure the degree of riskiness of activities and competitiveness.

The purpose of the analysis is not only and not so much to establish and evaluate the financial condition of the enterprise, but also to constantly carry out work aimed at improving it.

An analysis of the financial condition shows in which specific areas this work should be carried out and makes it possible to identify the most important aspects and weakest positions in the financial condition of the enterprise.

An assessment of financial condition can be performed with varying degrees of detail depending on the purpose of the analysis, available information, software, technical and staffing. The most appropriate is to separate the procedures for express analysis and in-depth analysis of financial condition. Financial analysis makes it possible to evaluate:

· property status of the enterprise;

· degree of business risk;

· capital adequacy for current activities and long-term investments;

· need for additional sources of financing;

· ability to increase capital;

· rationality of borrowing funds;

· validity of the policy for the distribution and use of profits.

The results of financial analysis make it possible to identify vulnerabilities that require special attention and develop measures to eliminate them. And for this you need to have knowledge in the field financial assessment and be able to apply them in practice, which is why the topic of this work is so relevant.

In addition, timely identification of negative trends in the financial and economic activities of the enterprise enables management to take certain actions to prevent bankruptcy.

The purpose of this work is to explore the main directions of assessing the financial condition of an enterprise. To achieve this goal, it is necessary to solve the following tasks:

Explore the essence and methods of financial analysis;

Study the most important indicators of the financial condition of the enterprise;

Consider the use of financial statements to evaluate an enterprise.

1. Theoretical aspects of analyzing the financial condition of business entities

1.1 Essence, subject of purpose, objectives and principles of the financial condition of the enterprise

The financial condition of the enterprise is economic category, reflecting the state of capital in the process of its circulation and the ability of a business entity to self-development at a fixed point in time, i.e. opportunity to finance your activities.

It is characterized by the provision of financial resources necessary for the normal functioning of the enterprise, the feasibility of their placement and efficiency of use, financial relationships with other legal and individuals, solvency and financial stability.

In terms of content, financial analysis can be represented as a process consisting of identification, systematization and analytical processing of available financial information, the result of which is to provide the user with recommendations that can serve as a formalized basis for adoption management decisions in relation to this object of analysis.

Analysis of economic activity as a science represents a system of special knowledge related to:

· researching trends in economic development;

· scientific justification of business plans and assessment of their implementation;

· making optimal management decisions and monitoring their implementation;

· assessment of achieved results and identification of reserves for increasing efficiency.

Economic analysis occupies a central place in the enterprise management system. The essence of management is revealed in its functions, which are closely interconnected.

Management is a continuous, purposeful socio-economic, organizational and technical process carried out by various methods and technical means to achieve the assigned tasks.

Rice. 1. The role of analysis in management

The subject of economic analysis is:

· production and economic processes occurring at enterprises and its structural divisions;

· financial results of activities that are formed under the influence of objective factors (demand, supply, prices, etc.) and subjective (conducting business activities, implementing business plans, organizing production, financial activities, etc.)

Objects: commercial organizations of various organizational - legal forms and non-profits engaged in entrepreneurial activity.

Subjects of analysis: users of information - legal entities and individuals.

Main tasks of analysis:

· timely and objective diagnosis of the financial condition of the enterprise, identification of its “pain points” and study of the reasons for their formation;

· studying the operation of economic laws, establishing patterns of economic development of enterprises in specific conditions;

· control over the implementation of plans and management decisions, effective use economic potential of the enterprise;

· study of the influence of external and internal factors on performance results for the correct diagnosis of its condition and forecast of development for the future;

· assessment of financial and operational risks and managing them in order to strengthen the market position of the enterprise;

· assessment of the results of activities on the implementation of plans and the level of development, position in the market of goods and services;

· preparation of analytical materials for choosing the optimal management solution.

· search for reserves for improving the financial condition of the enterprise, its solvency and financial stability;

· development of specific measures aimed at more efficient use of financial resources and strengthening the financial condition of the enterprise;

· forecasting possible financial results and development of models of financial condition under a variety of resource use cases.

The main goal of any type of financial analysis is to assess and identify the internal problems of the enterprise for the preparation, justification and adoption of various management decisions, including:

In the field of development;

Way out of the crisis;

Transition to bankruptcy procedures;

Purchases and sales of a business or a block of shares;

Attracting investments (borrowed funds).

Thus, the key issue for understanding the essence and effectiveness of financial analysis is the concept of the economic activity of an enterprise as a flow of decisions about the use of resources in order to make a profit.

Analytical studies, their results and use in enterprise management must comply with certain methodological principles.

Table 1. Principles of analysis

Regardless of the area of ​​production in which the enterprise operates, final goal does not change. All the variety of solutions to achieve this goal can be reduced to three main areas:

Decisions on investment of capital (resources);

Operations carried out using these resources;

Definition financial structure activities of the enterprise.

1.2 Types, information sources and methods of financial analysis

The main goal of financial analysis is to obtain the key, most informative parameters that give an objective and accurate picture of the financial condition of the enterprise, its profits and losses, changes in the structure of assets and liabilities, and in settlements with debtors and creditors.

The classification of economic analysis is important for a correct understanding of its content and objectives, for organizing the analytical process.

On practice individual species are rare, but it is necessary to know their methods.

Table 2. Types of economic analysis

When conducting economic analysis, a variety of information is used.

Disadvantages when forming an information base:

Late execution of documents

· a large number of copies to fill out and difficulties in processing documents

· lack of traffic schedules (irregular arrival)

· inability to verify the accuracy of the data,

· insufficient detail in certain areas of production and financial activities,

· low level of qualifications and training of specialists.

Before using documents for analysis, you must:

a) conduct a data check

technical (correctness of design)

arithmetic

· essentially (to what extent the information corresponds to reality)

b) bring the information into a comparable form (only qualitatively homogeneous quantities can be compared). Reasons for incomparability are different price levels, volumes of activity, calendar period, calculations of indicators, etc.

Table 3 . Analysis information base

1.3 Basic techniques and methods of financial analysis

Methods of economic analysis are a set of methods for processing economic information, analytical techniques and quantitative methods aimed at solving analytical problems. Also, methods of economic analysis are analytical tools that allow you to technically realize the goals of the analysis.

The process of performing analytical work can be represented as an algorithm:

Rice. 4 Stages of analysis

Economic analysis uses such general scientific theoretical methods of cognition as dialectics, as well as empirical methods such as economic and statistical analysis, structuring and modeling.

All methods of analysis are interconnected and are used simultaneously in various combinations, which makes it possible to comprehensively analyze the activities of an economic entity and identify reserves for increasing efficiency.

Analysis techniques include comparison, detailing and grouping, generalization, balance method and factor analysis.

1. Comparison– comparison of homogeneous objects to identify patterns of changes in indicators.

The most common types of comparisons are:

· reporting indicators with planned / implementation of the business plan as a criterion for assessing performance results.

· reporting indicators with indicators of previous periods / monitoring the dynamics of indicators and identifying development trends.

· planned indicators with indicators of previous periods / the ability to determine the optimality of planned targets and the quality of the business plan.

· performance indicators of internal structural units that can act as centers of responsibility

· reporting indicators with the industry average / ensuring an objective assessment of results and identifying unused reserves.

To ensure this technique, it is necessary to bring the compared indicators into comparability, that is:

a) eliminate the impact of price changes or express comparable volume indicators in the same prices (for example, actual sales volumes of the previous and reporting year - in prices of the reporting period);

b) eliminate the influence of differences in the volume and range of products when comparing quality indicators (for example, the cost indicator is recalculated to the same volume for the reporting and previous years);

c) application of a unified methodology for calculating indicators;

d) comparison of identical time periods.

The comparison results can be presented as follows:

· Absolute deviations

They are defined as the difference between indicators, and both quantitative and qualitative indicators can be compared.

Quantitative indicators– characterize the size and magnitude of economic processes. For example, the number of employees, the cost of basic production assets, sales revenue, profit, etc.

Qualitative indicators- reflect economic efficiency economic processes. For example, production costs, labor productivity, profitability.

Depending on the meters used, absolute deviations can be:

Natural (pieces, tons, kilograms, meters, etc.);

Labor (man-hours);

Monetary.

· Relative deviations

Defined as a ratio of quantities expressed as percentages or coefficients.

The growth rate shows how much the indicator increased (if more than one) or decreased (if less than one).

Absolute and relative deviations are determined by carrying out horizontal analysis.

· Indexes

They represent indicators - factors that influenced the results achieved.

Thus, comparison is the most important technique, because This is where the process of economic analysis begins.

2. Detailing – a technique that ensures the comprehensive nature of the study, the specificity of knowledge of the processes being studied and allows one to identify the reasons that influence the final result.

Detailing of indicators occurs sequentially in several directions:

a) by the time of transactions (quarters, months, decades, days, shifts).

Allows you to monitor the uniformity of individual processes and identify trends in their dynamics.

b) according to the place where economic processes are carried out, that is, industry indicators are broken down by organization, within organizations - by individual structural divisions.

Makes it possible to identify leading and lagging units.

c) by components

Necessary for studying the structure of aggregates, identifying the significance of individual parts in the formation of complex indicators and their changes. For example, the cost of production is detailed by cost elements, costing items, and types of products.

Groups – a technique that consists in dividing the studied set of objects into quantitatively homogeneous groups according to relevant characteristics.

Grouping information makes it possible to study the relationship between indicators and systematize analysis materials.

Depending on the purpose of the analysis, the following are used:

typological groupings

For example, groups of enterprises by type of ownership, groups of fixed assets, etc.

· structural groups

They allow you to study the internal structure of indicators and the relationship between its individual parts. For example, a grouping of current assets.

· analytical groups

Used to determine the presence of direction and form of connection between indicators. Individual indicators are replaced with averages for the purpose of generalization.

3. Generalization– the final stage of studying the financial and economic activities of the organization.

Includes:

conclusions (performance assessment)

They can be presented in tables, graphs, diagrams, which allows you to reflect the patterns contained in numerical information.

4. Balance way - used to reflect relationships, proportions of two groups of interrelated economic indicators, the results of which must be identical. For example, balance labor resources, payment balance.

The method is also used to check the correctness of determining the influence of various factors on the increase in the value of the effective indicator.

5.Factor analysis - analysis of the influence of factors on changes in the performance indicator.

The main tasks of factor analysis:

· selection of factors for the analysis of the studied indicators;

· classification and systematization of factors in order to ensure a systematic approach;

· modeling of relationships between performance and factor indicators;

· calculation of the influence of factors and assessment of the role of each of them in changing the value of the performance indicator;

· practical use of analysis results in management to make informed decisions.

Methods of chain substitution, absolute and relative differences are widely used. In addition to them, the index method, the integral method and the logarithm method can be used.

· Chain substitution method

Can be used to calculate the influence of factors in all types of models. It consists of a gradual (sequential) replacement of the basic value of each factor indicator with the actual value (substitution). The factor whose influence needs to be determined is considered as variable, and all others in relation to it are considered constant. The result of influence is defined as the difference between the conditional (calculated) value of the effective indicator and its previous value. The calculation results depend on the order of substitution.

· Absolute difference method

The basic indicator is not replaced by the full reporting value, but only by the absolute deviation.

· Relative difference method

To calculate the influence of the first factor, the base value of the effective indicator is multiplied by the relative increase in the first factor, expressed as a coefficient or percentage. To calculate the influence of the second factor, the change in it due to the first factor is added to the base value of the effective indicator and the resulting amount is multiplied by the relative increase in the second factor, etc.

Based on data about the past performance of an enterprise, financial analysis is aimed at reducing uncertainty about its future state.

The results of the analysis of the financial condition of the enterprise are of paramount importance for a wide range of users, both internal and external to the enterprise - managers, partners, investors and creditors.

For internal users, which primarily include enterprise managers, the results of financial analysis are necessary for assessing the activities of the enterprise and preparing decisions on adjusting the financial policy of the enterprise.

For external users - partners, investors and creditors - information about the enterprise is necessary for making decisions on the implementation of specific plans for this enterprise (acquisition, investment, concluding long-term contracts).

There are certain differences between internal and external financial analysis.

External financial analysis is focused on the open financial information of the enterprise and involves the use of standard (standardized) techniques. In this case, as a rule, a limited number of basic indicators is used. When performing the analysis, the main emphasis is on comparative methods, since users of external financial analysis are most often in a state of choice - with which of the enterprises under study to establish or continue relationships and in what form it is most advisable to do this.

Internal financial analysis is characterized by greater demands on initial information. In most cases, the information contained in standard accounting reports is not enough for him, and there is a need to use internal data management accounting. In the analysis process, the greatest emphasis is placed on understanding the causes of changes in the financial condition of the enterprise and finding solutions aimed at improving this condition. In this case, it does not matter at all whether the goal is achieved by using standard or original methods.

2. Methodology for conducting a comprehensive analysis of an enterprise

Professional financial management inevitably requires in-depth analysis, allowing a more accurate assessment of the uncertainty of the situation using modern quantitative research methods.

1. Balance sheet characteristics – assessment of the total value of property, the ratio of immobilized and mobile funds, own and borrowed funds.

2. Analysis of changes in the composition and structure of assets and liabilities.

3. Assessment of liquidity and solvency.

4. Analysis of financial stability and assessment of the likelihood of bankruptcy.

Information base financial analysis is accounting and reporting data, the study of which allows one to assess the financial position of an organization, changes occurring in its assets and liabilities, and identify development prospects. Carrying out analytical work, including the study of financial statements, involves a certain sequence of actions, including:

· preparing sources of information for analysis, checking its reliability;

· study and analytical processing of economic information - drawing up analytical tables, graphs, etc.;

· establishment, study and assessment of the influence of various factors on the studied indicators, generalization and presentation of the results of the analysis;

· development of specific measures to improve the indicators being studied, assessment of development prospects, justification of management decisions made.

Signs of a general positive assessment of the dynamics and structure of the balance sheet are:

· growth of equity capital;

· absence of sudden changes in individual balance sheet items;

· correspondence (balance) of the sizes of receivables and payables;

· absence in the balance sheet of losses, overdue debts to banks, the budget, given in the appendices to the balance sheet (section 1; 2 and in the certificate to section 2 f. N 5).

Changing the structure of the enterprise's assets in favor of increasing the share working capital may indicate:

· formation of a more mobile asset structure, facilitating the acceleration of the turnover of enterprise funds;

· diversion of part of current assets to lending to consumers of goods, works and services of the enterprise, subsidiaries and other debtors, which indicates the actual immobilization of this part of working capital from the production process;

· winding down the production base;

· distortion of the real assessment of fixed assets due to the existing procedure for their accounting.

The growth (absolute and relative) of working capital may indicate not only the expansion of production or the action of the inflation factor, but also a slowdown in their turnover; this objectively causes the need to increase their mass. When analyzing, it is necessary to correlate the growth rates of assets, revenue and profit.

It is especially important for the management of the company to conduct a systematic analysis of the solvency of the enterprise for effective management them, to prevent the occurrence and timely termination of crisis situations that have already arisen.

An enterprise can be liquid to one degree or another, since current assets include the most diverse working capital, among which there are both easily sold and difficult to sell.

During the liquidity analysis, the following tasks are solved:

· assessment of the sufficiency of funds to cover obligations that expire during the relevant periods;

· determining the amount of liquid funds and checking their sufficiency to fulfill urgent obligations;

· assessment of the liquidity and solvency of the enterprise based on a number of indicators.

I analyzed the financial stability of Resurs LLC based on financial statements (Appendix 1).

When conducting a horizontal and vertical analysis of the balance sheet, it was revealed that during the reporting period at the enterprise, the total value of property increased by 11,100 thousand rubles. or by 24%. Moreover, this increase occurred mainly due to the growth of mobile (working) assets, outpacing the growth of non-current assets. Working capital increased by 10,000 thousand rubles. (36%), non-current assets for 1100 thousand rubles. (6%), which is a positive fact. Working capital includes most of all inventories, which increased by 5,368 thousand rubles. (36%), possibly unjustified diversion of assets from the production process led to an increase in accounts receivable by 56%, obvious non-compliance with accounting discipline and untimely submission of claims for arising debts. The growth rates of accounts receivable and accounts payable are approximately the same. Equity capital exceeds borrowed capital. All of the above characterizes this balance in general terms as satisfactory.

An analysis of the solvency and liquidity of the balance sheet was carried out.

Table 4. Grouping of asset and liability items

To do this, assets are grouped depending on the degree of liquidity, i.e., the speed of conversion into cash, liabilities are grouped according to the degree of urgency of their payment, and the results of groups for assets and liabilities are compared.

Liquidity is the ability of assets to be converted into cash within a period corresponding to the maturity of liabilities.

Liquidity analysis consists of comparison of funds by asset, grouped by degree of decreasing liquidity with short-term liabilities by liabilities, grouped according to the degree of urgency of their repayment.

The balance is considered absolutely liquid if:

A1 ≥ P 1; A 2 ≥ P 2; A 3 ≥ P 3; A 4< П 4.

This balance is not absolutely liquid (A1< П1 в начале и конце периода, А2 < П2 в начале периода), но к концу отчетного периода А2 >P2, which indicates an increase in the solvency of the enterprise in the near future.

Table 4. Financial balance sheet liquidity ratios

Financial stability– a characteristic indicating a stable excess of income over expenses, free maneuvering of funds and their effective use, uninterrupted production and sales of products, and investment attractiveness in the long term.

An analysis of the stability of the financial condition as of a certain date makes it possible to determine the correct management of financial resources during the period preceding the date of analysis. Insufficient stability leads to insolvency and lack of funds for production development.

Target analysis – assessment of the size and structure of assets and liabilities. This is necessary to answer the questions: how independent is the organization from a financial point of view, is the level of this independence increasing or decreasing, and whether the state of the organization’s assets and liabilities meets the objectives of its financial and economic activities.

Table 5. Indicators and coefficients of financial stability

This enterprise has an unstable financial condition, associated with a violation of solvency, but in which it remains possible to restore balance as a result of replenishing sources of own funds by reducing accounts receivable and accelerating inventory turnover; ±FS< 0; ±ФТ < 0; ±Ф° >0; share net assets in the balance sheet increased by 4,500 thousand rubles. (29500 - 25000).

Among the internal factors of insolvency, one can single out those whose elimination directly depends on the successful collaboration accounting, financial department and management. These include: the presence of a deficit of own working capital, an increase in accounts receivable and payable, and low contractual discipline. If there is a stable base for expanding economic turnover, the reasons for insolvency may be the irrationality of the ongoing credit and financial policy, the use of profits, and errors in determining the pricing strategy.

A significant factor influencing the improvement of the financial condition of the enterprise is the repayment of accounts receivable. When payments to a company are delayed, it is forced to take out loans to support its business activities, increasing its own accounts payable.

The main ways to improve a company's liquidity are:

· increase in equity capital;

· sale of part of permanent assets;

· reduction of excess stocks;

· improving the collection of accounts receivable;

· obtaining long-term financing.

The essence of financial sustainability is determined by the effective formation, distribution and use of financial resources, which is expressed by various indicators.

There are no uniform approaches to considering a company's performance indicators. They depend on many factors: industry affiliation, lending principles of the existing structure of sources of funds, turnover of working capital, reputation of the enterprise, etc. Nevertheless, the owners of the enterprise (shareholders, investors) prefer an acceptable increase in the dynamics of the share of borrowed funds. Lenders (suppliers of raw materials and materials, banks) give preference to enterprises with a high share of equity capital, i.e. greater financial autonomy.

Depending on the capital structure and industry sector of the enterprise, the value of the agility coefficient varies significantly. The higher the value of this indicator, the more maneuverable, and therefore more stable, the enterprise is from the point of view of the possibility of its reorientation in the event of changing market conditions.

IN financial aspect business activity organization is expressed in asset and capital turnover ratios. Standard values ​​are calculated in a complex way using statistical data, so attention is paid to the dynamics of the results.

Indicators of liquidity, turnover, financial stability, and profitability are used by banks when assessing the creditworthiness of a client - borrower.

A conclusion about the sustainability of an organization and other characteristics of its financial solvency cannot be based only on the results of financial statements. The obtained calculation results must be supplemented with technical, economic, statistical, forecast and financial information. Lack of information by the owner about the real state of affairs in the organization creates a threat of financial insolvency, failure to receive expected benefits or direct losses, as well as potential bankruptcy.

If it comes crisis situation, then a business plan for financial recovery is developed through the integrated use of external and internal sources of financial stabilization.

Conclusion

Business management in a market economy is characterized by many features. Firstly, in the total set of resources of an enterprise, financial resources acquire dominant importance. Secondly, financial management decisions are always made under conditions of uncertainty. Secondly, as a consequence of the real independence of enterprises, the main problem for managers is finding sources of financing and optimizing investment policy. Fourthly, when establishing commercial relations with any counterparty, you can rely solely on your own assessment of its financial solvency. Under these conditions, the validity of management decisions made in relation to a certain economic entity, and many of these decisions are essentially of a financial nature, is largely determined by the quality of financial and analytical calculations.

Analysis is one of the general management functions economic systems, the significance of which is not subject to the influence of time, and can hardly be overestimated. To one degree or another, analysis is carried out by everyone who has even the slightest relation to the activities of economic entities. The purpose of this work was to explore the main directions for assessing the financial condition of an enterprise. To achieve this goal, the following tasks were solved:

The essence and methods of financial analysis have been studied;

The most important indicators of the financial condition of the enterprise have been studied;

The use of financial statements to evaluate an enterprise is considered.

Thus, it can be stated that the objectives of the work have been completed and the goal has been achieved.

Bibliography

1. Order of the Federal Service of Russia for Financial Recovery and Bankruptcy dated January 23, 2005 No. 16 " Guidelines to analyze the financial condition of the enterprise"

2. Ginzburg A.I. Economic analysis. Tutorial. – St. Petersburg: Peter, 2004.

3. Kovalev V.V. Financial analysis: methods and procedures. Finance and statistics. M.: 2004.

5. Kovalev V.V., Volkova O.N. Analysis of the economic activity of the enterprise. Textbook. – M.: Prospekt, 2004. – p. 240

6. Patrushina N.V. Analysis of financial results based on financial statements/Accounting. M.: 2005. No. 5, p. 68-72.

7. Directory of an enterprise financier. 3rd ed., add. and processed INFRA-M, 2004.

8. Savitskaya G.V. Analysis of economic activities. Tutorial. M.: INFRA-M, 2004.

9. Financial management / Ed. A.M. Kovaleva - M.: INFRA-M, 2004.

10. Fedorova G.V. Financial analysis of enterprises under threat of bankruptcy. – M.: Omega, 2003

11. Sheremet A.D., Negashev E.V. Methodology of financial analysis. M.: INFRA-M, 2004.

12. Sheremet A.D., Saifulin R.S., Negashev E.V. Methods of financial analysis: Textbook. – M.: INFRA-M, 2005.

Tutoring

Need help studying a topic?

Our specialists will advise or provide tutoring services on topics that interest you.
Submit your application indicating the topic right now to find out about the possibility of obtaining a consultation.

Methodology for analyzing the financial condition of an enterprise includes graphical, tabular and coefficient methods. The information base for assessing the analysis of the financial condition of an enterprise is the financial data of the accounting (financial) statements of the enterprise.

Graphical method of financial analysis

This method of financial analysis allows you to assess the financial condition of both the enterprise as a whole and individual objects of financial analysis. It is carried out using a graphical display in relative or absolute values ​​of financial reporting indicators on a balance chart at the beginning and end of the analyzed period for the subsequent assessment of the financial condition of the enterprise in the past and present, as well as forecasting the financial condition in the future. A balance chart is a diagram showing the relationship between the financial indicators of an enterprise.

Carrying out a financial analysis of an enterprise graphically is preceded by the selection of a balance chart scale and the determination of the boundaries of applying selected values ​​of financial indicators to the balance chart. To determine the boundaries of the values ​​of financial indicators applied to the balance chart, the cumulative totals of the values ​​of the indicators are calculated.

A prerequisite for constructing balance charts is the location of indicators at the beginning and end of the analyzed period in one field, since only such an arrangement allows one to assess the dynamics of financial indicators for the analyzed period. The tabular method of analysis and assessment of the financial condition of the enterprise is carried out using calculated tables of absolute values ​​of indicators and their specific values, growth rates to assess indicators of structure, dynamics and structural dynamics.

Ratio method of financial analysis

The method describes the financial proportions between the various items of the accounting financial statements. The advantage of this method of analyzing financial condition is the simplicity of calculations. The coefficient method involves: firstly, calculating the corresponding indicator and, secondly, comparing this indicator with some base, for example with generally accepted standard parameters; industry averages; similar indicators of previous years (periods); indicators of competing enterprises; other indicators of the analyzed company. The coefficient method of financial analysis is the assessment of individual, most significant characteristics of the financial condition of an enterprise using relative dimensionless values ​​of indicators. The method allows you to evaluate the dynamics of changes in the financial indicators of one enterprise or compare the indicators of the financial condition of several enterprises.

Analysis of the coefficients of the financial condition of the enterprise is carried out to study changes in the sustainability of the enterprise’s position and conduct comparative analysis financial position of several enterprises. The disadvantages of financial ratios are that they are static and do not reflect differences in accounting methods and the quality of the component indicators.

The indicators used in the analysis of financial condition are closely related in quantitative relationships. This connection follows either from cause-and-effect dependencies or from the peculiarities of the methodology for their calculation. Some of these indicators - financial ratios - are determined from balance sheet data, which are initially closed and ordered by balance sheet generalization and a double entry system. Here, it is no longer a close stochastic, but a functional dependence, when a specific value of one indicator presupposes certain values ​​of others. This is especially true for groups of coefficients that are homogeneous in the calculation methodology, for example distribution and coordination. The first ones show the specific weight of the relevant part in the total value of a set of phenomena that is uniform in economic content. The latter provide new meaningful characteristics of the area under study based on a comparison of its heterogeneous components.

Working with financial ratios involves at least three stages. At the first stage, the categories and characteristics necessary to illuminate a specific aspect of the financial situation, for example solvency, are selected. At the second stage, indicators (ratios) are developed that quantitatively express the analyzed side of the financial situation, for example, the overall solvency ratio. The third stage is devoted to the evaluation characteristics of the numerical values ​​that the desired coefficient can take.

To control business entities and create guidelines for making management decisions, such values ​​are standardized. The specifics of these norms are established as a result of the combination of many factors, including administrative interests, accumulated experience, common sense, etc. Their purpose is to serve as objective evaluation criteria, as well as unique beacons in establishing and maintaining the course of economic development in a given direction.

However, it seems that effective guidelines should be more flexible, taking into account relevant differences by region, type of activity of economic entities, etc.

Key financial ratios will increase their importance as a factor in the economic development of the country in the conditions of their systematic monitoring in the regions and the economy as a whole with the formation of operational reporting data that orients business towards the average values ​​of these coefficients in successfully operating companies. For these purposes, it is appropriate to intensify the inherent interest of business entities in a good partner climate through their voluntary self-certification as participants in autonomous monitoring of the financial ecology. Signs of the status of such a participant are the systematic conduct of internal analysis of relevant financial ratios and the open publication of their values. Also valuable is information on the amplitudes of fluctuations in coefficients by time periods and types of activities in terms of scale, experience in this business etc.

In methodological arsenals management analysis each economic entity must have reasonable values ​​of key financial ratios relevant at each point in time based on the adopted financial policy (according to the degree of its conservatism or progressiveness), stage life cycle and many other circumstances.

Based on the results of the analysis of the financial condition of the enterprise in three ways, a synthetic assessment of the objects of the financial analysis of the enterprise and a synthetic assessment of the financial condition of the enterprise as a whole are given.

Synthetic assessment of objects of financial analysis of an enterprise

Synthetic assessment of the financial condition of the enterprise- this is a generalization, clarification of conclusions characterizing the objects of the financial condition of the enterprise. The purpose of a synthetic assessment is to identify the most significant quantitative and qualitative characteristics of the actual values ​​of financial indicators that determine the financial condition of the enterprise.

When conducting a synthetic assessment of the financial condition of an enterprise, general conclusions are formulated about the state of the objects of financial analysis and the financial condition of the enterprise as a whole, problems in the field of the financial condition of the enterprise and reserves for resolving them.

The formulation of general conclusions, identification of problems and reserves is carried out in the course of sequential vertical, horizontal and general synthetic assessments of the financial condition of the enterprise. Vertical synthetic assessment allows you to assess the financial condition of an enterprise based on an analysis of the objects of financial analysis using one of the methods of financial analysis. Horizontal synthetic assessment allows you to formulate general conclusions, identify the main problems and reserves for solving them for each object of financial analysis. A general synthetic assessment is a generalization of the conclusions obtained from horizontal and vertical synthetic assessments, determination of reserves for solving identified problems and formulation of proposals for stabilizing the financial condition of the enterprise.

An assessment of the financial condition of an organization solely based on financial accounting and reporting data may be distorted due to the fact that these data are not current. The current formation of indicators of the financial condition of the enterprise is largely ensured with the help of management accounting or on the basis of the internal document flow of the enterprise. However, this creates confidential restrictions, and the information on which the analysis is based, as well as its results, becomes a trade secret and is not directly available to external stakeholders. The objective advantage of analysis based on management accounting data is the degree of its spatial and temporal detail, which is initially formed depending on the needs and priorities of the company regarding the direction of segmentation and frequency of measurements (hour, day, week, month, etc.). The modern optimal duration of the analyzed period is, as a rule, a month, which allows the information to remain relevant and sufficient to identify trends in changes in the economic situation.

When analyzing the financial condition of an economic entity, special attention should be paid to taking into account the specifics of the financial policy being pursued. The financial management of an organization, as a rule, gives priority to the efficiency of cash management rather than financial resources. For example, with an increase in accounts receivable, leading to financial difficulties, this is expressed, among other things, in the “fire” intensification of borrowing. However, it is strategically more advisable to reduce the threshold of painful sensitivity to this kind of difficulty. Strategic financial policy in this case is based on preventive efforts aimed at minimizing the costs of attracting financial resources and maximizing the return on investment while maintaining a low level of risk. As a result of such a policy, potentially long-term factors are emerging to reduce outflows and increase cash inflows. In other words, certain changes in the values ​​of financial indicators at a specific point in time are not a sufficient argument for automatically making responsive management decisions. It is necessary to make sure that these values ​​are not the result of a random combination of circumstances, but a consequence of one or another degree of effectiveness of the financial strategy, confirmed by the characteristics of their stability or direction of dynamics over a number of previous periods.

Literature:

1. Analysis of financial statements: Textbook. allowance / Ed. O.V. Efimova, M.V. Miller. M.: OMEGA-L, 2006. 451 p.
2. Endovitsky D.A., Babicheva N.E. Methodological foundations of economic analysis of organization development // Economic analysis: theory and practice. 2012. No. 14. pp. 2-7.
3. Zhulega I.A. Methodology for analyzing the financial condition of an enterprise: Monograph. St. Petersburg: GUAP, 2006. 235 p.
4. Lyubushin N.P., Babicheva N.E. Financial analysis: Textbook. M.: Eksmo, 2010. 336 p.
5. About approval methodological provisions on assessing the financial condition of enterprises and establishing an unsatisfactory balance sheet structure: Order Federal Administration on cases of insolvency (bankruptcy) under the State Property Committee of Russia dated 08/12/1994 No. 31-r.
6. General theory of statistics: Textbook / Ed. I.I. Eliseeva. M.: Finance and Statistics, 2005. 520 p.
7. Pacioli L. Treatise on accounts and records / Ed. I'M IN. Sokolova. M.: Finance and Statistics, 2001. 368 p.
8. Pyastolov S.M. Economic analysis of enterprise activities. M.: Academic project, 2002. 424 p.
9. Romanova T.G., Romanova T.V., Belousova A.G. Financial analysis: diagrams and tables. Ulan-Ude: VSTU, 2002. 63 p.
10. Theory of Statistics: Textbook / Ed. R.A. Shmoilova. M.: Finance and Statistics, 2008. 656 p.
11. Management accounting of costs and income with elements of financial accounting / Ed. V.F. Palia. M.: INFRA-M, 2006. 279 p.
12. Fomin V.P. Analysis of the balance of enterprise development indicators. Samara: Commonwealth, 2008. 208 p.
13. Sheremet A.D., Negashev E.V. Methodology for financial analysis of the activities of commercial organizations. M.: INFRA-M, 2008. 208 p.
14. Schroeder N.G. Management accounting: analysis of typical mistakes. M.: Personnel Management, 2005. 95 p.

home » Earn money online » Basic methods for assessing the financial condition of an enterprise. Methods for assessing financial condition Methods for assessing the financial condition of an enterprise 100 uniqueness