The efficiency of the economy is largely determined by the state of its fixed assets, which characterizes the production capabilities of economic sectors and determines the pace and scale of its development. The volume of production, the development of the productive forces of the industry, its financial and economic results, as well as the formation of the most important national economic proportions largely depend on the size, qualitative composition, age structure, efficiency of the reproduction process and use of fixed assets. Below, Rosstat data are reviewed and analyzed, which most fully illustrate the state and dynamics of fixed assets in the Russian Federation.

Table data 1 indicate that fixed assets in the national economy of the country before the start of the reform period (1990s) grew at a fairly high rate. Their annual increase was 5-10% and for 1970-1990.

Table 1. ? Fixed assets in the national economy of the Russian Federation

Federation (at the beginning of the year; at full book value)

In the post-Soviet period, the growth of fixed assets slowed sharply. Moreover, a particularly significant decrease occurred in 1995, when the growth rate of fixed assets throughout the economy as a whole amounted to 99.8% of the previous year. This trend was typical for both goods-producing and service-producing industries.

The Russian economy is in dire need of modernization, as fixed assets are aging and the technological gap is growing. A long-term deep recession in almost all industries led to severe degradation of the material and technical base of the economy: equipment was outdated, dismantled or sold, and technological chains were dismembered. The production potential accumulated at the beginning of the reform has been declining all these years, and the most advanced production of the highest technological level suffered most from downtime.

Table data 2 also indicate a systematic decrease in the physical volume of fixed assets in construction, industry, agriculture and forestry. During the period 1995-2004. growth rates in construction, agriculture and forestry did not exceed 100% of the previous year. According to calculations for 1995-2004. the increase in the physical volume of fixed assets in industry was only 0.4%, i.e. there was no increase as such. IN agriculture the situation is completely deplorable: over a 9-year period, the volume of fixed assets decreased by 24%.

Currently, there is a clearly visible tendency for industrial enterprises to lose the ability to produce complex and high-tech products, not only new ones, but also those they previously produced in conditions of stable economic development. The aging process of fixed assets is determined by unacceptably low modern economy the rate of retirement of obsolete equipment and the same low rate of input of new capital. This means that the technical re-equipment of the production apparatus of such basic sectors of the economy as energy, transport, metallurgy, chemistry, mining, etc. is under threat, since as the active part of the fixed capital of these industries wears out, they will be fully replaced by new domestic ones equipment will be difficult or impossible.

Increasing output mainly by increasing load production capacity, with insufficient investment activity, preserved the tendency to increase the level of depreciation of fixed assets in industry, which is characterized by the data in Table. 3.

At the beginning of 2010, the degree of depreciation of fixed assets in the economy as a whole amounted to 45.1%, including in industry - 50.6%, while in 2000 these values ​​were 38.6 and 46.2%, respectively. The degree of wear and tear of machinery and equipment was significantly higher - 57.3%.

Thus, over a 10-year period, the depreciation of fixed assets in the Russian economy increased by 1.2 times. Wear Vehicle increased by 4.9 percentage points, structures - by 8.4 points, the depreciation of buildings remained at the same level as in 1995. It should be noted that the depreciation of the most active part of fixed assets (machinery and equipment) increased until 2000. , when it was 68.4% versus 62.9% in 1995, then it decreased and in 2010 it was already 57.3%. Most likely, this was a consequence of the financial crisis of 1998, after which Russian industry acquired certain opportunities for growth and development. However, this did not lead to overcoming most of the problems.

Table 2. ? Indices of physical volume of fixed assets by economic sectors (in comparable prices; in%)

Table 3. - Degree of depreciation of fixed assets of organizations by economic sectors (at the beginning of the year; in%)

Moral and physical wear and tear of a significant part production equipment, the outdated technologies used are currently the main obstacle to the possible involvement of free capacity for the production of competitive products. In our opinion, no more than 10% of unused capacity can be involved in this process.

High degree of wear of the main production assets in almost all industries it is fraught with man-made disasters.

Accidents and injuries are increasing, labor productivity is decreasing, and product quality is deteriorating, regardless of the qualifications of workers. A particularly serious threat to social security is the failure and increased accident rate of chemical and other industries associated with the formation of toxic and explosive waste.

According to some authors, the main problem at present is not so much the introduction of advanced technology to the level of highly developed countries, but the replacement of obsolete and worn-out fixed assets with new ones. Of course, replacing equipment can be combined with the introduction and development of new technologies, but the latter process is longer and more expensive, and it cannot be carried out simultaneously and everywhere, because this is usually accompanied by a temporary decline in production. High depreciation of fixed assets is a consequence of the insufficient volume of new fixed assets being put into operation and obsolete ones being liquidated. Table data 4 characterizes the growth rate of fixed assets put into operation.

From 1990 to 1998 the number of introduced fixed assets did not exceed 100% of the number of fixed assets introduced in the previous year. The financial crisis of 1998 changed the situation, and since 1999 there has been an increase in the growth rate of introduced fixed assets. Significant growth was recorded in 2005 - 120.7% compared to 1999. In 2010, this value was 111.7% compared to the previous year.

From 1995 to 2010 The largest share (50-60%) in the structure of introduced fixed assets was occupied by industries providing market and non-market services. On the one hand, this is due to the hypertrophied attention in these years to the development of financial, trade, social sphere etc., and on the other hand, a significant reduction in the production apparatus, the elimination of large volumes of worn-out and obsolete means of labor without their corresponding compensation in the production sphere.

In 1990, the renewal rate of all fixed assets was 5.8% versus 10.2% in 1970. This figure systematically decreased until 1998, when it dropped to 1.1%, then it increased slightly to 2. 0% in 2010. General decrease in the coefficient for the period 1970-2010. amounted to 5.1 times. This trend was typical for all sectors of the economy. At the same time, in industries producing goods, the coefficient decreased by 7.7 times, while in industries providing services, by 3.6 times. Moreover, until the 1990s. the process of updating fixed assets was more intense in industries producing goods (6.7% in 1990).

The sharp slowdown in the renewal of the active part of fixed assets led to the fact that the vast majority of them operated beyond their economically justified service life.

The ratio of the coefficients of renewal and disposal of fixed assets indicates that in Russian economy There is no significant renewal or expansion of the production base; enterprises can only maintain it at the achieved level. If we consider this ratio for individual industries, we can state the fact that in agriculture and forestry, as well as in construction, there is a negative tendency for the retirement rate of fixed assets to exceed the renewal rate.

Table 4. - Commissioning of fixed assets

This suggests that enterprises, in fact, are losing their fixed assets.

It is especially alarming that the lowest ratios are in industries producing new equipment. In its current state, mechanical engineering cannot ensure the reproduction of fixed assets of industry with competitive equipment. One of the obvious reasons for this situation is the long-term decline in the reproductive potential of mechanical engineering and metalworking as a result of a fivefold drop in demand; the worse reproductive capabilities of the investment and technological complex are also reflected by a clear structural lag in relation to developed countries.

Due to the sharp slowdown in the process of updating fixed assets, the age parameters of the production equipment used have deteriorated, which is characterized by the data in Table. 5. By 2010 average age of machinery and equipment in industry almost doubled compared to 1990 (10.8 years) and amounted to 21.2 years (2.5 times compared to 1970), with the standard period adopted in many developed countries of the world equipment service life is 6-10 years.

The share of equipment that can be called modern, i.e. whose service life is less than five years, and which essentially determines the competitiveness of production, amounted to 8.6% in 2010 compared to 40.8% in 1970, i.e. decreased by 4.7 times. An even lower percentage of equipment (5.1%) is aged 6-10 years. The share of equipment with a service life of more than 20 years was over 50% in 2010, having increased even by almost 3.5 times compared to 1990.

The investment sphere is one of the most important in the economy of any state. Its condition is of particular significance for Russia, where there was a long-term reduction in the volume of investments in fixed capital and the commissioning of fixed assets in the 1990s. disrupted reproductive processes.

According to the table. 6 investments in fixed assets have the largest share in the structure of investments in non-financial assets (more than 98%). So, in 2010 this value was 99.1%. Investments in intangible assets occupy only 0.5-1.5%.

Economic growth that began after the 1998 crisis led to some improvement in the investment sector, but this was not enough. In 1999, the volume of investments increased by 5.3% compared to 1998, in 2005 - by 17.4% (compared to 1999). In fact, despite the relatively high growth rates of investment in last years, the picture remains depressing. The increase in investment that occurred in the 2005s is completely incomparable with the scale of losses suffered by fixed assets over the decade. Investments of the 2005s much less than what was invested in fixed assets in the pre-reform period.

The analysis shows significant sectoral differentiation of investment activity. During the period 1970-2004. The largest share in the structure of investment in fixed capital was occupied by industry (34.8% in 2010). At the same time, in recent years there has been a slight decrease in investment in this industry: in 207 the share was 38.7%. The distribution of investment across industrial sectors reflects the overall unsatisfactory reproductive structure of the economy: in the export-oriented sector there is a relative excess of capital, while in the sector oriented towards domestic demand there is a clear lack of it. In recent years, among the sectors of the economy, the most large investments accounted for the fuel industry and transport.

In 2006-2010 in the structure of investments in fixed capital by type economic activity the largest volume of investments falls on manufacturing (16.3-17.4%) and mining (16.8-19.7%). In turn, the share of investments in fixed capital:

In chemical production it was 1.4-1.5%;

In metallurgical production - 3.1-4.3%;

In the production of machinery and equipment - 0.6%;

Electrical equipment - 0.5-0.6%;

In the production of vehicles - 1.4-1.5%.

Over the subsequent years, there were no significant changes in the structure of investments in fixed assets by type of economic activity.

It is important to note that even during the most large-scale capital investments in the 1980s. they were only sufficient to maintain stable production at a rate of modernization that was considered insufficient. With the reduction in investment that occurred after 1990, it is impossible not only to modernize, but also to simply maintain the industrial infrastructure in working order.

The unsatisfactory state of the investment complex in the national economy of the country has a fairly long history. The opinion of academician is noteworthy. K.K. Valtukha, who pointed out: “... since the beginning of the 60s, the country has shown a tendency towards a decrease in surplus labor and, accordingly, a lag behind the world technological leaders...

The global crisis of 2008 changed the economic situation in the country. In order to understand its impact on the prospects for improving fixed assets in the national economy, it is necessary to analyze the experience of solving similar problems in crisis situations.

Periodic financial crises in developed countries, mainly associated with an imbalance between the real and virtual parts of the economy and some overproduction of goods and services, also cause the need to update technology and increase investment. Thus, according to academician E. S. Varga, economic crisis 30s in the USA led to a massive replacement of equipment and an influx of domestic and foreign investment into economics.

Table 5. ? Age structure of production equipment in industry (in%)

Table 6. - Structure of investments in non-financial assets (as a percentage of total)

When emerging from the crisis into the stage of production growth, the renewal of fixed capital accelerated: in the USA in 1933-1937, in Germany in the 50s, in the USSR in the 30s. With intensive structural restructuring of priority industries, fixed capital also requires rapid renewal. Thanks to this, Japan has successfully supplanted other countries in the global market of electrical products and the passenger car market. Over the past 10 years, the USA has been massively updating its computer production assets, Germany - in production household appliances and in the automotive industry. Widespread and rapid renewal of the equipment fleet is impossible due to the lack of funds from the state and companies for these purposes. Priority sectors develop under the condition that other areas of production receive relatively less investment.

The inevitability of government support National economy during periods of crisis, they represent certain opportunities for modernizing fixed assets. In this situation, modernization projects in industry financed from government sources can be successfully implemented. The implementation of this approach will allow the most effective implementation state support economic entities in the real sector of the economy: financial resources, allocated by the state in this case, should be used to finance specific projects carried out in accordance with the principles project management. This will ensure support for effective innovation institutions rather than individual enterprises and business groups.

In this case, special attention should be paid to modernization projects in mechanical engineering, which, as noted above, requires radical modernization, which can be carried out through the development of investments, infrastructure, institutions and innovations. Will need to achieve complete replacement technologies and create a fundamentally new technological structure. Mechanical engineering also plays a vital role in solving the problems of diversification and economic growth through innovative production. It is machine-building production that will be able to ensure the gradual liberation of the Russian economy from dependence on raw materials.

It is known that fixed assets wear out during operation. To reimburse the cost of fixed capital, a depreciation fund is used, which is formed from depreciation charges received to the current account industrial enterprise after the sale of products.
This course work reveals the essence and characteristics of fixed production assets, talks about ways to evaluate them. Also, a large role is given to depreciation of fixed assets and in various ways its accrual in a market economy.

Introduction 3
Chapter 1. The concept and essence of fixed assets of an enterprise 4
§ 1. Economic essence OPF 4
§ 2. Composition and OPF classification 5
§ 3. Methods for assessing and accounting for general fund. 8
Chapter 2. Depreciation and amortization of fixed assets. 12
§ 1. Types of depreciation of fixed assets. 12
Chapter 3. 21
§ 1. State of Russia's fixed capital. 21
§ 2. Modernization of fixed assets of enterprises Russian Federation. 25
Conclusion 31
List of used literature. 32

The work contains 1 file

WORK PLAN

Introduction 3

Chapter 1. The concept and essence of fixed assets of an enterprise 4

§ 1. Economic essence of OPF 4

§ 2. Composition and classification of OPF 5

§ 3. Methods for assessing and accounting for general fund. 8

Chapter 2. Depreciation and amortization of fixed assets. 12

§ 1. Types of depreciation of fixed assets. 12

Chapter 3. 21

§ 1. State of Russia's fixed capital. 21

§ 2. Modernization of fixed assets of enterprises of the Russian Federation. 25

Conclusion 31

List of used literature. 32

Introduction

Currently, in a market economy, when economic instability is characteristic, when development is replaced by a period of crises, enterprises are required to increase the economic efficiency of production. The problem of increasing the efficiency of using fixed assets and production capacities of enterprises occupies a central place during Russia's transition to market relations. The solution to this problem determines the place of the enterprise in industrial production, its financial condition, competitiveness in the market. To carry out business activities and normal functioning, any modern enterprise must have the necessary resources, that is, have certain means and sources with the help of which it is possible to produce and sell material goods, works and services. Such sources, first of all, are the fixed assets of the enterprise.

Fixed assets are the most important and predominant part of all assets in industry. They determine the production capacity of enterprises, characterize their technical equipment, and are directly related to labor productivity, mechanization, production automation, production costs, profits and profitability levels.

It is known that fixed assets wear out during operation. To reimburse the cost of fixed capital, a depreciation fund is used, which is formed from depreciation charges received to the settlement account of an industrial enterprise after the sale of products.

This course work reveals the essence and features of fixed production assets and talks about ways to evaluate them. Also, a large role is given to depreciation of fixed assets and various methods of its calculation in a market economy.

Chapter 1. The concept and essence of fixed assets of an enterprise

§ 1. Economic essence of OPF

For the potential implementation of the production process, the interaction of resources in the form of means of production (means and objects of labor) and work force. The means of production expressed in monetary form are production assets. The production assets of an enterprise are divided into “fixed” (fixed capital) and “working” (working capital). The division is based on differences in participation in the production process, the nature of reproduction and the methods of transferring value to the finished product.

The fixed production assets of an enterprise are the value expression of the means of labor. The main defining feature of fixed assets is the method of transferring value to the product - gradually: over a number of production cycles; in parts: as they wear out. Depreciation of fixed assets is taken into account according to established depreciation rates, the amount of which is included in the cost of production. After the sale of products, accrued depreciation is accumulated in a special depreciation fund, which is intended for new capital investments. Thus, the lump sum advanced value into the established capital (fund) in the part of the fixed capital makes a constant circuit, moving from monetary form to natural form, to commodity form and again to monetary form.

The economic essence of fixed production assets lies in the fact that they are repeatedly involved in production process, transfer their value to the cost of the produced (manufactured) product and do not lose their natural material form during the production process (they retain their consumer value and natural form). When accounting for funds, there is a limitation: fixed assets include funds with a service life of more than one year and a cost exceeding 100 times the minimum monthly wage.

The law of reproduction of fixed capital is that, under normal economic conditions, its value, introduced into production, is completely restored, providing the opportunity for constant technical renewal of the means of labor. With simple reproduction, using the depreciation fund, enterprises form a new system of labor tools, equal in value to worn-out ones. To expand production, new investments of funds are required, attracted additionally from profits, contributions from founders, issue of securities, loans, etc. With a large scale of fixed capital used, large and large enterprises have the opportunity to use the depreciation fund to finance not only simple, but also significant least expanded production of means of labor.

§ 2. Composition and classification of OPF

The main production assets of an industrial enterprise are means of labor that are repeatedly involved in the production process, performing qualitatively different functions. In terms of their economic content, fixed industrial assets are homogeneous. At the same time, they differ in their production and technical purpose, role in production and reproduction time.

Therefore, for planning capital construction, calculating the amount of wear and tear and depreciation rates, a classification of fixed assets is necessary.

To account for and plan fixed assets, the state is developing a unified classification for the entire national economy. Means of labor are combined by their types, groups, subgroups, as well as by sectors of the national economy and areas of activity, which allows them to be typified, coded, and the formation of unified forms of accounting and reporting. Under the influence of scientific and technological progress, directions of economic and depreciation policy of the state, the classification of fixed assets in the former USSR and the Russian Federation was revised in 1923, 1930, 1972 and 1996.

Based on the principle of natural material composition, the current classification combines fixed assets into certain groups. Each group consists of many different means of labor.

1. Buildings - buildings and structures in which the processes of main, auxiliary and auxiliary production take place; administrative buildings; economic buildings. In addition to the construction part, the cost of these buildings also includes the cost of the heating system, plumbing, electrical fittings, ventilation devices, etc.
2. Facilities. The group of structures includes engineering and construction facilities that are necessary for the production process: roads, overpasses, tunnels, bridges, etc.
3. Transfer devices – water supply and electrical network; heating networks, gas networks, steam pipelines, i.e., transmission facilities various types energy from engine machines to working machines (oil pipelines, gas pipelines, etc.).
4. Cars and equipment. This group has a particularly large and diverse composition. This includes power machines and equipment, including all types of power units and engines;

• working machines and equipment that directly affect the subject of labor or its movement in the process of creating products;

• measuring or regulating instruments and devices and laboratory equipment intended for measurements, regulation of production processes, testing and research;
• since 1972, computer technology has been separated into a separate subgroup: electronic computers, analog control machines, as well as machines and devices used to control production and technological processes;
• other machines and equipment that are not included in the listed subgroups.

1. Vehicles (enterprise-owned rolling stock railways, water and automobile transport, as well as in-plant vehicles: trucks, trolleys, trolleys, etc.)

1. Tools and accessories. Fixed assets include instruments of all types with a service life of more than 1 year. Tools and equipment that last less than 1 year are classified as working capital.
2. Industrial and household equipment and accessories intended for storing materials, tools and facilitating production operations - workbenches, racks, tables, containers, office and household items (furniture, fireproof cabinets, duplicating devices, fire-fighting items, etc.).
3. Working and productive livestock. Draft livestock (horses, bulls, oxen, camels, etc.) have been separated into a separate group since 1996. The fixed assets also include productive livestock - adult animals that produce products and offspring (cows, ewes, sows, etc.). The cost of young animals, livestock and fattening animals is included in working capital agricultural enterprises.
4. Perennial plantings. The main assets include perennial plantings: fruit-bearing orchards, berry gardens, forest shelterbelts.
5. On-farm roads.
6. Land plots owned by the enterprise.
7. Other fixed assets.

According to the Federal State Statistics Service, at the beginning of 2011. buildings accounted for 15.0% of the availability of fixed assets; structures – 50.7%; machinery and equipment – ​​26.9%; vehicles – 6.7%. In the structure of fixed assets of non-profit organizations, the largest share is made up of buildings (45.1%) and structures (34.9%), and the share of machinery and equipment, vehicles and other types of fixed assets is correspondingly small: 13.5% and 3.4 %.

The importance of each of the listed groups of fixed assets in production and increasing its efficiency is not the same. Active fixed assets that directly affect the level of technical equipment of labor at an industrial enterprise are working machines, equipment, vehicles and tools, that is, production tools. The volume of production and its efficiency depend on their qualities and degree of use.

Other elements of production fixed assets take an indirect part in the production process (transfer devices) or create the necessary conditions for the use of machines and equipment with the help of which the production process is carried out (buildings, structures). Therefore, the level of the material and technical base of an enterprise is determined primarily by the specific weight and quality of the active part of production fixed assets. The higher the share of the active part of the funds, the greater opportunities the enterprise has to increase production output. The division of fixed assets into active and passive is largely arbitrary. Often, production improvement involves increasing the cost of structures or transfer devices, which leads to progressive changes in the technological process. In many industries (oil production, gas production, etc.), structures and transmission devices are the most active part of the assets.

According to their functional purpose, fixed assets are divided into fixed production assets and fixed non-productive assets. The main production assets include funds (about 80%) that are directly involved in the technological process (machines, equipment, machine tools, etc.), or create conditions for the production process (industrial buildings, structures, pipelines, etc.). Fixed non-production assets (more than 20%) are household and cultural facilities, medical institutions, residential buildings, children's and sports institutions, etc., which are on the balance sheet of the enterprise, but unlike production assets they do not participate in the production process and do not transfer their value to the product. Their value disappears in consumption. There is no compensation fund being created. They are reproduced at the expense of national income.

Based on ownership, fixed assets are divided into owned and leased.

Depending on the sectors of the national economy, fixed assets are divided into fixed assets of industry, agriculture, construction, transport, trade, etc. The classification of fixed assets by sectors and branches of the national economy makes it possible to monitor and adjust the directions of economic development: to more effectively use incentive levers for the development of progressive and priority sectors.

§ 3. Methods for assessing and accounting for general fund.

Accounting for fixed assets is determined not only by the need to know what fixed assets and in what volume the enterprise has, but also by the requirements of production economics. This is due to the fact that the share of fixed assets in the total amount of funds at the disposal of the enterprise reaches 70% or more. Consequently, the development (state) of the enterprise’s economy depends on how they are used.

Accounting for fixed assets is carried out in kind and in cash. Accounting for funds in kind is necessary to determine the technical composition of fixed assets, the production capacity of the enterprise, the degree of use of equipment and other purposes. For each unit of fixed assets, a passport is drawn up, reflecting the time of construction, technical characteristics, repairs made, degree of wear and use.

An inventory commission is specially created to check the technical condition of fixed assets at the end of the year. Therefore, accounting and evaluation of fixed assets in physical terms gives an idea of ​​their technical condition.

Monetary or valuation of fixed assets is necessary to determine their total volume, dynamics, structure, value transferred to the cost of trade products, as well as to calculate the economic efficiency of investments.

The desire to explain the essence and significance of capital was demonstrated by representatives of all major schools and areas of economic science. This is evident even from the titles of many works. Let us mention, in particular, “Capital” by K. Marx, “Capital and Profit” by E. Böhm-Bawerk, “The Nature of Capital and Profit” by I. Fischer, “Cost and Capital” by J. Hicks.

Concept and theories of capital

Essence and forms of capital

Capital is a certain amount of goods in the form of material, monetary and intellectual assets used as a resource in further production. Therefore, capital is the sum of so-called capital goods, i.e. goods for the production of other goods. A capital good can be considered bricks (they will be used to build a house), machine tools (they will be used to make parts of future passenger cars), a TV (it will reproduce a TV show), etc.

Narrower definitions are also common. According to the accounting definition, capital refers to all the assets (funds) of a company. According to the economic definition, capital is divided into real (physical, production), i.e. in the form of means of production, and monetary, i.e. V financial form, and sometimes commodity capital is also allocated, i.e. capital in the form of goods.

Real capital is divided into fixed and working capital (Fig. 17.1). Fixed capital usually includes property that lasts for more than one year. In Russia, fixed capital is called fixed assets.

Real working capital should include only tangible working capital, i.e. manufacturing inventories, work in progress, finished goods inventories and goods for resale. This is the economic definition of working capital.

If funds in settlements with suppliers and customers are added to material current assets (accounts receivable, i.e. loans and installment payments to customers, and deferred expenses, i.e. advances to suppliers), cash in the cash register of the enterprise and wage expenses, we obtain working capital (working capital, or current assets) according to the accounting definition.

Figure No. 17.1. Real capital structure

Capital is often divided according to the areas of its application: production (industrial), commercial, financial (loan), etc. Owners of capital receive income from its use. In the case of loan capital, income takes the form of interest. In other cases (other types of money capital or all real capital), income takes the form of profit. It is worth noting that it may be in different options: profit of the company, dividends of the owner of shares, royalties of the owner of intellectual capital (for example, the owner of a patent), etc.

Note that the theories of capital

Note that capital theories have a long history.

A. Smith characterized capital exclusively as an accumulated stock of things or money. D. Ricardo interpreted it as a means of production. A stick and a stone in the hands of a primitive man seemed to him to be the same element of capital as machines and factories.

Unlike their predecessors, K. Marx approached capital as a category of a social nature. It is worth noting that he argued that capital is a self-increasing value that gives rise to the so-called surplus value. Moreover, he considered only the labor of hired workers to be the creator of the increase in value (surplus value). Therefore, Marx believed that capital is, first of all, a certain relationship between different strata of society, especially between wage workers and capitalists.

Among the interpretations of capital, the so-called theory of abstinence should be mentioned. It is important to note that one of its founders was the English economist Nassau William Senior (1790-1864). He viewed labor as the “sacrifice” of the worker losing his leisure and peace, and capital as the “victim” of the capitalist, who refrains from Use this property for personal consumption, and convert a significant part of it into capital.

On this basis, a postulate was put forward that the benefits of the present are of greater value than the benefits of the future. And therefore, the one who invests money in economic activity deprives himself of the opportunity to realize part of his wealth today, sacrifices his current interests for the sake of the future. It is this kind of sacrifice that deserves reward in the form of profit and interest.

According to the American economist Irving Fisher (1867-1947), capital generates a flow of services, which turn into an influx of income. The more the services of a particular capital are valued, the higher the income. Therefore, the amount of capital must be assessed on the basis of the amount of income received from it. So, if renting an apartment brings its owner $5,000 annually, and in a reliable bank he can receive 10% per annum on the money deposited in a fixed-term account, then the real price of the apartment is $50,000. After all, this is exactly the amount that needs to be deposited in the bank at 10 % per annum, to receive $5,000 annually. Based on all of the above, we come to the conclusion that in the concept of capital, Fisher included any good that brings income to its owner (even talent)

Quantitative determination of profit and its dynamics

There are two measures to quantify profit. Absolute indicator The ϶ᴛᴏth category is the mass of profit, the relative indicator is the rate of profit.

The mass of profit is its absolute volume, expressed in money. The rate of profit is the ratio of profit to advanced capital, expressed as a percentage.

In Russia, the rate of return is more often called the level of profitability. The material was published on http://site
It is worth noting that it is calculated as the ratio of profit to the cost of fixed assets and working capital. In Russian industry, the level of profitability in 1980 was 12.5%; in 1990 - 12.0; in 1997 -9.0.

Main capital

Main capital(fixed assets) will be the main integral part capital of firms in most industries, primarily in the real sector. For example, in Russia in 1997 the ratio between the main and working capital in the industry as a whole it was 8:1.

Structure and analysis of fixed capital

Fixed assets are represented primarily by buildings and structures, transmission devices, machinery, equipment and instruments, vehicles, tools, livestock, household durable goods (household property), as well as intangible assets (patents, trademarks, copyrights and other rights)

Fixed assets largely determine the production potential of a company (industry, entire country), i.e. the ability to produce (release) over a certain period of time a certain amount of products of the required range and quality. In relation to enterprises (firms) in the sphere of material production, they often talk about their production capacity (production capacity). For example, in Russia, the production capacity of passenger cars is about 1.2 million cars per year. Production capacity may often be underutilized; Some of them are being modernized, some are being repaired, some are idle due to strikes or lack of demand for the products produced at these facilities. Thus, the utilization of production capacity for the production of passenger cars in Russia in 1997 was about 80%, for the production of steel - 68, tractors - 8, footwear - 17.

Fixed assets are taken into account in statistics using fixed capital balance. It is a statistical table whose data characterizes the volume, structure, reproduction and use of fixed assets. Fixed capital analysis is carried out in many areas, including:

1. Analysis of fixed assets by technological and age structure. Note that the technological structure shows the relationship between the so-called active part of the funds (working machines and equipment directly involved in the production of products) and their passive part (buildings, structures, etc.). The age structure of the funds characterizes them by their service life. Thus, at the end of 1997, the age structure of production equipment (the main part of production capacity) in Russian industry was as follows: equipment up to 5 years old - 5.4%; 6-10 years - 24.0; 11-15 years - 24.6; 16-20 years old - 17.5; more than 20 years - 28.6, and the average age of this equipment was 15.9 years (in 1970 it was 8.4 years, in 1980 - 9.5 years, in 1990 - 10.8 years )

2. Analysis of the value of fixed assets using various approaches. When assessing fixed assets by book value The base is taken as the value of fixed assets when they are registered, or more precisely, at the time of initial entry into the balance sheet of fixed assets or its subsequent correction. As a result, the book value represents a mixed assessment of fixed assets, since one part of them is still listed at initial cost(i.e. the cost of acquisition), and the other has already been revalued and is listed according to the so-called replacement cost.

Moreover, both the initial and replacement cost can be as follows: full, i.e. at the time of purchase or next revaluation, and residual, those. minus wear and tear or with the addition of modernization and reconstruction.

2. Analysis of renewal, disposal and depreciation of fixed assets, which are characterized by specific renewal and retirement coefficients.

In 1997, the renewal rate in Russia was 1.4 1 (in 1970 - 10.2; in 1980 - 8.2; in 1990 - 5.8), and the retirement rate was 1.0 ( in 1970 - 1.7; in 1980 - 1.5; in 1990 1.8)

Moreover, when analyzing, not only the values ​​of each of these coefficients are important, but also the difference between them. For example, with a high renewal rate and a low retirement rate in a company, the share of old assets increases (as happened in our country in the 70-80s). With the opposite combination, the volume of fixed assets decreases (which is what happened in Russia in the 90s -e years)

Depreciation rate is the share in the fixed assets of those funds whose age exceeds the standard period. Thus, at the end of 1998, the depreciation of fixed assets in Russia amounted to 41%, 1, including in industry 52% (in 1970 - 26%; in 1980 - 36; in 1990 - 46)

4. Analysis of the efficiency of use of fixed assets, which is characterized by a number of coefficients, including such as:

1.2 Fixed capital (fixed assets)

Fixed capital in physical form is represented by buildings, machines, structures, i.e. all those durable capital goods that lose their value as they wear out over several production cycles.

Fixed capital is characterized by depreciation - depreciation as a result of wear and tear. To compensate for fixed capital worn out over the entire service life, a depreciation fund is created, which receives funds (depreciation charges) after the sale of finished products. Depreciation charges are intended to restore operability or completely replace the means of labor with other means of labor and are equal to the value of the transferred cost of the means of labor within one year.

The means of labor are fully involved in each production process, but transfer their value to the products produced in parts. Therefore, we can say that fixed capital is that part of the value of the advanced capital that is spent on the acquisition of means of labor and is reimbursed in parts.

The amount of annual depreciation charges depends on the depreciation rate for a specific type of equipment, established by law. The importance of the amount of depreciation deductions for an entrepreneur lies in the fact that these deductions are not included in the tax base.

The ratio of the amount of depreciation to the cost of fixed capital, expressed as a percentage, is the depreciation rate. The depreciation rate is calculated using the formula

A = A/K base *100%;

where A is the depreciation rate, expressed as a percentage;

A - the amount of depreciation charges for one year;

To main - the initial cost of fixed capital.

There are various depreciation schemes:

straight-line depreciation method, when depreciation charges represent the same amount over the life of the capital good;

accelerated depreciation method (the depreciation rate is established by the state at high level and allows you to form a depreciation fund 3-4 times faster);

the declining balance method, when depreciation charges are calculated as the ratio of the same depreciation rate (for example, 10%), but not to the original cost of the machine, but to its residual value for each year. For example, in the 1st year, 10% of $1000 will be deducted. In the 2nd year, 10% of the reduced cost of the machine will be deducted (i.e., from $900), etc.

Fixed assets are production assets used repeatedly or continuously over a long period, but not less than one year, for the production of goods, provision of market and non-market services. Fixed assets consist of tangible and intangible fixed assets.

Material fixed assets (fixed assets) include:

Facilities,

Cars and equipment,

Measuring and regulating instruments and devices,

Computer and office equipment,

Vehicles,

Tool,

Industrial and household equipment,

Working, productive and breeding livestock,

Perennial plantings and other types of material fixed assets.

Intangible fixed assets (intangible assets) include:

Computer Software,

Database,

Original works of entertainment, literature or art,

High-tech industrial technologies,

Other intangible fixed assets that are objects of intellectual property, the use of which is limited by the ownership rights established on them.

According to requirements accounting and reporting in the Russian Federation, fixed assets do not include:

a) items that last less than one year, regardless of their value

b) items valued below the limit established by the Ministry of Finance of Russia, regardless of their service life, with the exception of agricultural machinery and tools, mechanized construction tools, weapons, as well as working and productive livestock, which are classified as fixed assets, regardless of their value;

c) fishing gear (trawls, seines, nets, nets and other fishing gear) regardless of their cost and service life;

d) gas-powered saws, delimbers, rafting cable, seasonal roads, mustaches and temporary branches of logging roads, temporary buildings in the forest with a service life of up to two years (mobile heating houses, boiler stations, pilot workshops, gas stations, etc.);

e) special tools and special devices (tools and devices intended purpose intended for serial and mass production of certain products or for the production of individual orders), regardless of their cost; replaceable equipment, devices for fixed assets that are repeatedly used in production and other devices caused by specific manufacturing conditions - molds and accessories for them, rolling rolls, air lances, shuttles, catalysts and sorbents of a solid state of aggregation, etc., regardless of their cost;

e) special clothing, special shoes, as well as bedding, regardless of their cost and service life;

g) uniforms intended for issue to employees of the enterprise, clothing and footwear in healthcare and educational institutions, social security and other institutions on a budget, regardless of cost and service life;

h) temporary structures, fixtures and devices, the construction costs of which are included in the cost of construction and installation work as part of overhead costs;

i) containers for storing inventory items in warehouses or carrying out technological processes, value within the limit established by the Ministry of Finance of Russia;

j) items intended for rental, regardless of their value;

k) young animals and fattening animals, poultry, rabbits, fur-bearing animals, bee families, as well as sled and guard dogs, experimental animals;

l) perennial plantings grown in nurseries as planting material.

Fixed assets also do not include machinery and equipment listed as finished products in the warehouses of manufacturing enterprises, supply and sales organizations, handed over for installation or to be installed, in transit, listed on the balance sheet of capital construction.

The object of classification of material fixed assets is an object with all fixtures and accessories, or a separate structurally isolated object, intended to perform certain independent functions, or a separate complex of structurally articulated objects, representing a single whole and intended to perform a specific job. A complex of structurally articulated objects is one or more objects of the same or different purposes, having common devices and accessories, general management, mounted on the same foundation, as a result of which each item included in the complex can perform its functions only as part of the complex, and not independently.

Groupings of objects in OKOF are formed mainly according to the characteristics of purpose associated with the types of activities carried out using these objects and the products and services produced as a result of these activities.

Improving the use of fixed production assets largely depends on the availability of a well-founded system of indicators characterizing the level of efficiency in the use of assets. To assess the effectiveness of the use of fixed assets, a system of indicators is used, including general (cost) and specific (natural) indicators.

General indicators characterize the level of use of the entire set of fixed assets as a whole, and private indicators characterize individual elements of fixed assets (park construction machines, vehicles, etc.). The most widely used of the general indicators is the capital productivity indicator, which reflects the efficiency of the use of labor embodied in the main production assets and characterizes the amount of products per 1 ruble. value of fixed assets. The capital productivity indicator (Ftd) is determined by the formula:

It should be noted that the capital productivity indicator does not allow us to fully assess the extent to which an organization uses the fixed assets at its disposal. The value of the capital productivity indicator is directly dependent on the level of labor productivity and inversely dependent on the level of its capital-labor ratio. Therefore, the development of the construction industry should be considered effective, in which the growth of labor productivity outstrips the level of equipment of workers construction organizations fixed assets. In other words, there should be a reduction in the cost of living labor per unit of finished product with an increase in the level of equipment of construction organizations with fixed assets. The value of the capital productivity indicator is also significantly influenced by a number of factors that have little dependence on the work of construction organizations in the field of increasing the efficiency of using fixed production assets. Such factors include the composition and structural changes in the program of work performed, changes in the level of prices for resources and a number of other factors.

The capital productivity indicator can also be calculated using the formula:

The capital productivity indicator calculated in this way characterizes the profitability (profitability) of the use of produced funds and allows the construction organization to evaluate the qualitative side of their use. However, this approach to determining the capital productivity indicator in construction has a limited scope of application, since most grassroots construction organizations use an outsourced fleet of construction machines and vehicles.

The inverse indicator of capital productivity is capital intensity, which shows what part of the cost of fixed production assets falls on 1 ruble. completed amount of work.

The decrease in capital productivity in recent years and the increase in capital intensity can be explained by the growth of fixed assets and an increase in the level of saturation with them construction production, as well as their significant rise in price due to the transition of the country's national economy to market relations.

The level of equipment of construction organizations with basic production assets is characterized by a number of indicators, including the indicator of mechanical equipment of labor. The mechanical strength of labor is determined by the formula:

Particular indicators characterizing the efficiency of use of fixed assets include indicators of the use of machines and mechanisms in terms of time and productivity. All private indicators can be divided into two categories: indicators characterizing the extensive use of machinery and equipment, and indicators characterizing the intensity of their use.

One of the indicators characterizing the extensive use of the active part of fixed assets is the time coefficient of machine utilization:

However, machine utilization over time does not provide insight into machine utilization and power usage.

The number of indicators reflecting the intensity of use of the machine park should include, first of all, the indicator of fulfillment of machine production standards for a certain period (Kn in), determined by the formula:

A generalizing private indicator can be considered the coefficient of integral load of machinery and equipment (Kint), which characterizes the ratio of actually completed and planned volumes of work for a specific machine or equipment for a certain period of time and is determined by the formula

Data on the work of construction organizations indicate that the reserves for improving the use of fixed assets in construction production are extremely large. Their implementation should go in two main directions:

1) increasing the time of use of fixed assets (extensive path);

2) increase in output per unit time of use of fixed assets (intensive path).

The factors influencing the improvement of the use of fixed production assets over time include an increase in shifts of work of fixed assets, a reduction in intra-shift downtime in construction organizations, and ensuring better use of the calendar time of construction equipment. An increase in the number of operating hours of fixed assets can also be achieved by reducing the time spent on machines for repairs and maintenance, reducing time spent on relocation, etc.

The intensity of use of fixed production assets (their active part), in turn, can be ensured as a result of the following activities:

Introduction of advanced methods of organization and technology for construction and installation work;

Increasing the degree of prefabrication of buildings and structures erected by construction organizations, which will entail an improvement in the use of assembly cranes in terms of lifting capacity and power;

System implementation scientific organization labor;

Mechanization and automation of machine control processes;

Improving the qualifications of workers servicing construction equipment, etc.

Increasing the efficiency of using fixed assets of construction organizations can be achieved by improving the organization of repair of construction equipment on the basis of interdepartmental cooperation, introducing unit-unit repair methods, creating a network of specialized repair companies. The organizational prerequisites for increasing the intensity of work of construction machines are an improved supply of tools and devices, an established system of supplying spare parts, materials and structures of appropriate quality.

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• 2. Changes that occurred in the 90s due to market transformation.

During the market transformation, all regions of Russia suffered significant changes in the structure and volume of fixed capital. At that time, the decline in production potential had reached very critical levels, and losses and damage became irreparable.

However, there are also positive changes that occurred in the process of formation and use of fixed capital during the period of market transformations, predetermined by transformational changes.

In conditions of diversity of ownership (increasing the share of private property in the investment complex in 2007 to 30-49% with a reduction in state ownership from 27 to 10%), commercial and industrial restructuring of production took place and, accordingly, the reorientation of fixed capital to the production of competitive goods intensified technical modernization enterprises in those industries whose products are in demand on the market; the pace of development of basic engineering infrastructure has increased; in the regions there is a process of smoothing out structural and technological imbalances. These trends confirm the stimulating influence of the market on the process of formation and use of fixed capital.

At the moment, it is necessary to strengthen Russia’s fixed capital, which requires solving many problems, namely:

• · technical and technological reconstruction and modernization of industries that are a priority for the regions of the country;
• · implementation of infrastructure projects;
• · attracting investments that form capital;
• · significant reduction in depreciation of fixed capital.

Reducing the depreciation of fixed capital is directly related to the resource and technological limitations that are imposed on production due to outdated technology, equipment and technologies; costs for creating more efficient technological chains; reorientation of a number of industries due to the need to ensure import substitution, and to stop the degradation of manufacturing enterprises.

According to statistics agencies, the level of depreciation of fixed capital at the beginning of the year in the Russian Federation ranged from 39.2% in construction to 50.7% in transport. The most severe depreciation of fixed capital in industry was observed in the Far Eastern and Siberian federal districts (44.1 and 47.4%, respectively), in transport - in the Ural, Far Eastern and Siberian districts (46.4, 48.4 and 50.2% ). Data on the level of wear and tear for a range of major industries in the context of all federal districts are presented in Table 1. The indicators indicate how high the level of depreciation of fixed capital is in all districts for transport, industry and agriculture; construction and communications are not much less. However, as the authors of “The Path to the 21st Century: Strategic Problems and Prospects for the Russian Economy” suggested, “there is reason to believe that the amount of depreciation of fixed capital in Russia, determined by official statistics, is significantly underestimated, primarily due to non-accounting or incomplete accounting of obsolescence factors” .

Significant depreciation of production potential is confirmed by data on the share of completely worn-out fixed capital. According to them, in Russian industry such capital is 19.2%, and in the Volga Federal District the percentage is even higher - 25.6%. The share of worn-out capital is also high in agriculture (in the Southern Federal District - 14.9%, in the Siberian Federal District - 12.4%), in construction (in the Southern Federal District - 16.0%).

Experts estimate the real level of depreciation of fixed capital in Russia at the same level as foreign indicators - not 45-47%, but 60%. These indicators acutely raise the problem of technical renewal of fixed capital in all markets and require a transition to new technological developments. Due to the delay in the modernization process, Russia may lose its status as an economically and technically strong state. Machinery and equipment should be the first to be modernized.

According to calculations by the Russian Academy of Sciences, the Chamber of Commerce and Industry of the Russian Federation and Russian Association industrial and construction banks, the Russian economy needs $350 billion to replace physically outdated production facilities, excluding obsolescence. If we take into account obsolescence, it is necessary to add approximately another 185 billion dollars. It follows that the so-called “accumulated need” for updating fixed capital is approximately 535 billion dollars. In addition, for the annual current reimbursement of the depreciation fund, another 14 to 20 billion dollars are needed.

However, data from the McKinsey Institute states that Russia needs only 15-20 billion dollars to modernize within five years.

The area of ​​investment is the most important area in the state's economy. It is especially important for Russia due to the disruption of reproduction processes in the 90s, during which the volume of investments in fixed capital decreased and fixed assets were put into operation.

After the crisis in 1998 Economic growth led to an improvement in investment, but this was not enough for the country. In 1999 the volume of investments increased by 5.3% compared to 1998, and in 2005. - by 17.4% compared to 1999 In fact, the picture is depressing, despite the relatively high growth rates of investment. Investment growth in 2005 generally incomparable with the scale of losses suffered by fixed assets over the decade.

Analysis of investment activity indicates industry differentiation. In the period 1970-2004. Industry had the largest share in the field of investment in fixed capital - in 2010. 34.8%. At the same time, there has been a decline in investment in recent years - the share in 2007 was 38.7%. The distribution of investments by industrial sector shows the overall unsatisfactory structure of economic reproduction: an excess of capital in the export-oriented sector and a lack of capital in the sector that is focused on domestic demand. In recent years, the largest investments have been in transport and the fuel industry.

For the period 2006-2010. a large volume of investments was made in manufacturing - 16.3-17.4% and in mining - 16.8-19.7%. And the share of investments in fixed assets:

chemical production - 1.4-1.5%;

metallurgical production - 3.1-4.3%;

production of equipment and machinery - 0.6%;

electrical equipment - 0.5-0.6%;

production of vehicles - 1.4-1.5%.

During next years There were no significant changes in the structure of investments in fixed capital by type of economic activity.

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