Introduction

Studying this topic is an extremely urgent task.

The most important modern trend for a future specialist in the field of finance is the fact that in the field of business development, financial aspects in the activities of business entities come to the fore.

Professional financial management inevitably requires an in-depth analysis of the financial condition of the enterprise and the factors of its formation in order to assess the degree of financial risks and predict the level of return on capital.

The financial condition of an enterprise is a complex concept that is characterized by a system of indicators that reflect the state of capital in the process of its circulation and the organization’s ability to finance its activities at a fixed point in time.

The financial condition of an organization depends on the results of its production, commercial and financial activities. It can be stable, unstable and crisis. The ability of an organization to make the necessary payments on a timely basis and to finance its activities on an expanded basis indicates its good financial condition.

In turn, the stable financial condition of the organization has a positive effect on the efficiency of the organization. Therefore, financial activity as an integral part of economic activity is aimed at ensuring the timely receipt and expenditure of monetary resources, fulfilling accounting discipline, achieving rational proportions of own borrowed capital and its most effective use.

It is the financial condition of the enterprise that is the indicator that characterizes the viability of the organization and is the main criterion of its competitiveness in the market.

The purpose of the internship is to master the skills of analyzing the financial condition of an organization.

Achieving this goal involves solving a number of the following tasks:

Coverage of the results of familiarization with the organization of financial, economic and managerial work at the enterprise.

Systematic analysis of the financial condition of the organization.

Analysis of the organization’s problems in the financial sector and development of specific proposals for improving the organization’s financial activities.

When writing this work, we used educational, monographic and journalistic literature.

1. Brief description of OJSC "Amurfarmatsiya"

Activities of OJSC "Amurpharmacia"

OJSC Amurpharmacia, as the legal successor of the former state enterprise Amur Pharmacy Management, has been operating in the pharmaceutical services market in the Amur region for over 55 years.

Over such a long period of time, the best traditions have been accumulated and preserved: quality, reliability, professionalism, which allow us to provide a full range of services for the provision of medicines to the population and medical institutions of the Amur region.

Main activities of the company

The assortment list of medicines and related products in pharmacies amounts to over 3,500 thousand items.

Great attention is paid to the quality of medicines supplied to the pharmacy network of OJSC Amurpharmacia. A product quality system has been developed that allows you to select a range of medicines and suppliers capable of producing and supplying only high-quality medicines. The control and expert department of Amurpharmacia OJSC and the medical goods storage department carry out 100% quality control upon receipt of medicines.

The main task of Amurpharmacia OJSC is to provide the population of the Amur region with affordable, effective, safe and high-quality medicines, medical products, spectacle optics and parapharmaceutical products.

For this purpose, the company has developed a set of measures to ensure quality at all stages of product circulation and created departments to ensure the implementation of all quality control measures - the inspection and audit department and the control and expert department. Employees of these departments conduct both targeted and comprehensive examinations of pharmacy institutions of OJSC Amurpharmacia in all sections of work in accordance with the inspection schedule and orders of the General Director of OJSC Amurpharmacia.

The entire quality assurance system is divided into :

1. Quality system for finished products (medicines, medical products, industrial spectacle optics, parapharmaceutical products).

2. A quality system for home-made medicines.

3. A quality system for eyewear optics products of our own manufacture.

Having a long history of work in the pharmaceutical market, more than 55 years, specialists of Amurpharmacia OJSC, observing the conditions of the quality control system, begin work by choosing a bona fide supplier or manufacturer.

Contracts for the supply of products, including decentralized procurement, provide for the purchase of only products permitted for sale on the territory of the Russian Federation, the availability of certificates of conformity and sanitary and epidemiological conclusions for the relevant types, and stipulate delivery conditions that exclude the possibility of contamination and spoilage products.

The supplier’s compliance with the conditions of transportation (delivery) of thermolabile drugs in special containers, protection from adverse weather factors, and compliance with temperature conditions are subject to special control.

When accepting products from cargo carriers, compliance with measures to protect products from contamination or exposure to adverse environmental factors during loading and unloading operations is monitored.

Acceptance of products is carried out according to quantity and quality. The quality of the product is established by the presence of accompanying documents confirming the compliance of product quality with established standards. All quality documents for goods arriving at the pharmacy warehouse are stored in the control and expert department and are provided to pharmacies upon their request.

All medicines undergo acceptance control, which consists of checking incoming medicines for compliance with the requirements for the following indicators: “Description”; "Package"; "Marking". If necessary, a complete physical and chemical analysis of dosage forms is carried out in our own laboratory.

The storage of all goods in warehouses and pharmacies is carried out in accordance with current instructions for organizing the storage of various groups of medicines and medical products, including those with flammable and explosive properties. In storage rooms, medicines are placed separately, in strict accordance with toxicological and pharmacological groups.

In addition, the audit and inspection department monitors compliance with the rules for dispensing medicines, medical products, eyeglasses and other pharmaceutical products.

Quality control of medicines is carried out by specialists who have a specialist certificate and have completed an internship course on the basis of the control and expert department. To carry out chemical quality control of medicines, special workplaces are equipped in laboratories and pharmacies, equipped with a standard set of equipment, instruments and reagents, and are also provided with regulatory documents and reference literature

The developed “Quality System at OJSC “Amurpharmacy” is aimed not only at identifying, but also preventing possible errors in work and is intended to guarantee the quality of products in its network at all stages of its circulation.

For more than 10 years, the company has had its own help desk.

Here you can always get detailed information about the availability of medications in pharmacies in Blagoveshchensk, advice on rational use, storage rules at home, and characteristics of side effects on the body.

Management structure of OJSC "Amurpharmacia"

Joint Stock Company "Amurpharmacy", hereinafter referred to as the "company", is an open joint stock company.

The Company is a legal entity and operates on the basis of the Charter and legislation of the Russian Federation.

The company was registered by the administration of the city of Blagoveshchensk No. 1488 dated June 3, 1994.

The company is a legal entity. The company acquires rights and obligations from the moment of its state registration. The company has a round seal with its name, a corner stamp, settlement and other accounts in rubles and foreign currency in banking institutions.

The company was created without limiting the period of its activity.

The company has a large seal with its full corporate name in Russian and an indication of its location.

The Company has the right to have stamps with its name, its own emblem, a duly registered trademark and other means of visual identification. The type of company is “open”, the number of shareholders is not limited.

Today OJSC Amurpharmacia is the largest pharmacy chain in the Amur region.

64 pharmacies, 62 pharmacy points and 2 Optics stores operate in all districts of the Amur region.

Employees of the reference and information department work to provide high-quality information and advisory support when distributing pharmaceutical products to consumers. The control and expert department, which includes a control and analytical laboratory, monitors the passage of acceptance control and the availability of documents confirming quality.

To control and prevent the receipt of rejected and falsified medicines at Amurpharmacia OJSC, the department receives by e-mail from the Federal Service of the Ministry of Health and Social Development of the Russian Federation all information about rejected and falsified drugs and is immediately entered into the computer database of the pharmacy warehouse. When drawing up acceptance certificates, these drugs are printed with the mark “defective” and are not subject to acceptance. Weekly information about rejected and falsified drugs is sent to the subordinate network.

An important role is played in maintaining the quality of medicines stored in pharmacies, monitoring compliance with the sanitary regime in the premises, compliance with sanitary and hygienic requirements for pharmacy staff, for the receipt, transportation and storage of medicines.

The highest management body of Amurpharmacia OJSC is the general meeting of shareholders.

The audit commission is the body controlling the financial, economic and legal activities of the company.

The board of directors and the audit commission are elected at a meeting in the manner prescribed by this charter of the company and the regulations on the general meeting of shareholders, the board of directors and the audit commission. The CEO is appointed by the board of directors.

The process of production management at an enterprise is carried out by a team of workers organized into a management apparatus.

At the annual meeting of shareholders, the following issues are resolved: election of the audit commission, approval of the auditor, approval of the annual report, balance sheet, distribution of profits and losses. Voting is carried out on the basis of one share, one vote. The board of directors of the company provides general management of the company's activities.

The management of the current activities of the company is carried out by the General Director. He is appointed by the board of directors. By decision of the board of directors, the general director is the employer and concludes a collective agreement on behalf of the owner with the trade union committee representing the interests of the workforce.

The deputy director is subordinate to the marketing department, which determines suppliers of raw materials, the sales market for finished products, and on which the uninterrupted operation of the enterprise depends.

The chief engineer determines the technical policy and directions of technical development of the enterprise, ensuring the necessary level of technical preparation of production. He is in charge of the entire course of production and its maintenance. The following specialists are subordinate to him: chief mechanic, production manager and laboratory head.

Planning and Economic Department.

The main functions are drawing up a work schedule for the main production, developing prices for products, calculating planned costs, calculating labor intensity for manufactured products. A labor engineer and an economist report to the head of the planning department. The task of the planning department is to prepare plans for production and sales of products, and calculate the program based on the planned profit.

The functions of the labor and wages department include the development of such indicators as: labor productivity, number of employees, labor intensity, size of the consumption fund and the estimate of its expenditure.

The chief accountant supervises the work of the accountant, cashier, and lawyer. The responsibility of the accounting department is to carry out all accounting operations at the enterprise.

The HR department is engaged in the formation of human resources, i.e. providing the enterprise with employees of the required specialties.

Department of material and technical supply. Ensures a continuous supply of resources and materials, and controls their costs. There are seven people working in this department.

Thus, an analysis of the organizational structure of enterprise management allows us to conclude that the enterprise uses a linear-functional management structure. Its essence is that the production process at the enterprise dictates the need to organize management at the enterprise along the so-called functional basis.

Management functions are concentrated in functional bodies, each of which, according to its function, based on the collection and processing of information, develops a project for the appropriate solution of problems, which, after approval by the line manager, is mandatory for the corresponding executor.

Thus, functional organs do not issue control commands.

1.3 Management structure of pharmacy No. 17, Shimanovsk

Pharmacy No. 17 in Shimanovsk is a branch of Amurfarmatsiya OJSC.

The purpose of the activity of this enterprise is making a profit.

An enterprise has civil rights and bears civil responsibilities necessary to carry out its activities, not prohibited by federal law.

An enterprise can engage in certain types of activities, the list of which is determined by federal laws, only on the basis of a special permit (license).

The company carries out the following activities:

1. Sales through our own retail network of medicines and medical products, immunobiological preparations, parapharmaceuticals, sanitary and hygiene items, baby food, care items and related products.

2. Providing medical institutions of the Amur region with medicines and medical products, including potent and narcotic drugs, toxic substances, extemporaneous dosage forms.

3. Own production according to extemporaneous recipes for the population and medical institutions.

4. Providing the population with medicines on preferential and free prescriptions.

5. Execution of individual orders for the supply of medicines for the population and medical institutions of the Amur region.

6. Delivery of medicines and related products to your home.

7. Providing information services to the population through a help desk.

Analysis of the management structure of this enterprise allows us to draw the following conclusions.

The management structure of an enterprise is structural - functional, which is typical for enterprises that are part of a larger enterprise, such as a branch or representative office.

This type of structure is convenient for small and medium-sized enterprises, but limits the scope of activity to a certain territorial framework.

As part of the analysis of this structure, it is necessary to note the combination of the position of accountant and economist at the enterprise, which can also be considered as a negative trend, but nevertheless, this is typical for most small and medium-sized enterprises.

2. Analysis of the financial condition of OJSC "Amurfarmatsiya"

2.1 Analysis of the main reporting forms of Amurpharmacia OJSC

The financial service is headed by chief accountant Nadezhda Leonidovna Kolupaeva.

Job descriptions are developed for each unit of the financial service.

The activities of accounting are aimed at maintaining records and reporting, as well as determining the impact on the amount of profitability, profit and costs; range of services provided; composition of product consumers; geographic areas and distribution channels for medicines and services; size of the government order.

OJSC "Amurpharmacy" maintains accounting records of property, liabilities and facts of economic activity by double entry on interconnected accounting accounts, included in the working chart of accounts, which is an integral part of the enterprise's accounting policy.

Accounting is carried out in the currency of the Russian Federation – rubles.

The manager issues orders defining the activities of the enterprise accountant.

The chief accountant is guided by the orders of the manager, as well as acts and other documents. Internal documents are necessary for the correct organization of accounting and tax accounting.

Also, the chief accountant of the enterprise, within the framework of the current accounting policy, must ensure that these business transactions are fully reflected in the legislation of the Russian Federation.

To streamline work with internal documents, the organization establishes a document flow schedule.

The document flow schedule should establish a rational document flow in the organization, help improve all accounting work, and strengthen the control functions of accounting and tax accounting.

The enterprise, in accordance with the types of economic activities carried out, drew up and approved a document flow schedule, providing for the creation of primary accounting documents, the procedure and timing of their transfer for reflection in accounting.

The process of maintaining accounting records and the process of generating financial statements is automated.

The formation of accounting and statistical reporting takes place within the framework of the software product “1C: Accounting 8.0” in a modified version for budgetary organizations, the company is the developer of “1C”.

“1C: Accounting for a budgetary institution 8.0” was developed in accordance with the requirements and provisions of the current regulatory documents of the Ministry of Finance of the Russian Federation, the Federal Treasury on budget accounting, budget execution and implements a standard accounting methodology for budgetary institutions in accordance with the current legislation of the Russian Federation.

"1C: Accounting of a budgetary institution 8.0" provides accounting according to the chart of accounts of budgetary accounting:

– according to the current budget classification of the Russian Federation;

– by type of activity – budgetary activity, income-generating activity, activity with funds at temporary disposal;

– in terms of operations of the general government sector;

– in the context of institutions (structural divisions allocated to an independent balance sheet);

- by type of funds.

The chart of accounts and the setup of synthetic and analytical accounting are implemented for all sections of budget accounting to the extent regulated by the Instructions for Budget Accounting.

Accounting for funds and liabilities can be carried out both in rubles and in foreign currency.

Each accounting section in the program is a methodically verified technological cycle of accounting for certain types of property, funds, and obligations within a single standard configuration, which provides for obtaining all the necessary primary documents and accounting registers.

“1C: Accounting of a budgetary institution 8.0” supports a single interconnected technological process for processing documentation for all sections of accounting with the preparation of a balance sheet.

The main way to reflect business transactions in accounting is to enter configuration documents corresponding to the primary accounting documents.

In addition, direct entry of individual transactions is allowed. For group entry of transactions, you can use standard operations - a simple automation tool that can be easily and quickly configured by the user.

The standard configuration is based on the principle of entering accounting information into the program “from the document”.

This means that the program can create and store electronic images of primary accounting documents and automatically generate accounting records (entries) based on them.

The documents correspond to standard forms and, if necessary, copies can be printed. The document-based technology allows you to enter any information into the program once. Many documents can be automatically filled in based on existing ones (using the copy functions or “entry based”).

It is also possible to enter transactions manually and using standard operations.

The program allows you to automatically perform routine operations, such as currency revaluation and account closure.

The entered information is automatically summarized, which allows you to generate the necessary reports for any period of time.

Standard and specialized reports included in the configuration allow you to quickly obtain the necessary accounting registers and present accounting information in a form convenient for analysis.

A set of regulated reports (updated quarterly) contains forms of accounting, tax, statistical reporting, reporting to funds necessary for the monthly, quarterly and annual report of a budgetary institution.

Formation of regulated reporting involves:

– entering, filling out and printing accounting, tax, statistical reporting, reporting to funds;

– in the manual mode of filling out reports, the accountant enters the main indicators, the program calculates all total and derived indicators;

– in automatic mode, the program fills out reports based on business transactions entered for the period;

– storing generated reports and restoring data from them;

– checking the linkage of indicators (intra-form and inter-form control);

– receiving reports both on paper and electronic media.

The forms of primary accounting, accounting, tax and statistical reporting included in the configuration of the program “1 C 8.0 “Accounting for Budgetary Institutions” correspond to the originals developed by the Ministry of Finance of the Russian Federation, the Federal Tax Service, the Federal State Statistics Service and other departments.

Thus, in drawing a conclusion, we should note that the development of the accounting and statistical reporting of the enterprise under study reflected changes in the conceptual nature of reporting, that is, the financial statements of the enterprise under study were brought into compliance with international accounting standards.

The main sources of information for analyzing the financial condition of an organization are the organization’s balance sheet (Form No. 1 of annual and quarterly reporting), the profit and loss statement (Form No. 2 of annual and quarterly reporting), the report on changes in capital (Form No. 3 of annual reporting), the report on the organization’s cash flow (form No. 4 of the annual reporting, appendix to the balance sheet (form No. 5 of the annual reporting).

2.2 Analysis of the financial condition of OJSC Amurpharmacia

Let us make a general assessment of the financial position of Amurpharmacy OJSC using the method of constructing an analytical balance.

This method involves the calculation of absolute and relative values ​​that characterize the dynamics and structure of consolidated balance sheet items. Particular attention should be paid to elements that have the highest specific weight and elements whose share has changed abruptly. Often they are indicators of the “problem points” of the organization.

Let's consider the comparative analytical balance of Amurpharmacia OJSC (Table 1) for the last two years.

Table 1. Comparative analytical balance of Amurfarmatsiya OJSC

The calculations given in Table 1 show that in the reporting year, compared to the previous year, the reporting currency of the balance sheet of Amurpharmacia OJSC increased by 64,071 thousand rubles. or by 30.7%. In the structure of assets, the share of non-current assets is 31.4%, and the share of current assets is 68.6%, with no significant changes in the structure during the reporting period.

In the structure of the organization's liabilities, the largest share falls on short-term liabilities (on average 57.4%). However, their share in 2009 compared to 2008 decreased by 5.8%. At the same time, the share of long-term liabilities increased by 2.5 times due to deferred tax liabilities, which is a negative fact. A positive point can be considered an increase in the share of capital and reserves of OJSC Amurpharmacia for the analyzed period by 3.7% and their amount by 34,055 thousand rubles. This is due to the growth of retained earnings (Appendix 1).

Let us consider the general internal relationships inherent in balance.

Firstly, the basic idea of ​​balance is fulfilled when the sum of the totals of all sections of the asset is equal to the sum of the totals of all sections of the liability.

At the end of 2008: 65327+143706 = 77998+4946+126089;

209033 thousand rubles. = 209033 thousand rubles.

At the end of 2009: 85622+187482 = 112053+12317+148734;

273104 thousand rubles. = 273104 thousand rubles.

Secondly, the amount of own funds (“Capital and reserves”) of a normally functioning organization, as a rule, exceeds the amount of non-current assets.

In our case:

At the end of 2008: 65,327 thousand rubles. 77998 thousand rubles.

At the end of 2009: 85,622 thousand rubles. 112053 thousand rubles.

These ratios show that the organization finances its non-current assets from its own funds.

And thirdly, the total amount of current assets must exceed the amount of borrowed funds:

AII P (IV+V);

In our case:

At the end of 2008: 143,706 thousand rubles. 4946 thousand rubles + 126089 thousand rubles.

143706 thousand rubles. 131035 thousand rubles.

At the end of 2009: 187,482 thousand rubles. 12317 thousand rubles + 148734 thousand rubles.

187482 thousand rubles. 161051 thousand rubles.

The data show that this condition is not met in the organization under study, that is, a significant part of the current assets is acquired by Amurpharmacy OJSC using borrowed funds, which is a negative fact.

Thus, the overall internal balance relationships are not fully implemented.

The first stage of our further analysis will be an analysis of the sources of capital formation and the efficiency of its use.

The main source of financing for the organization's activities is its own capital. It includes authorized capital, accumulated capital (reserve and additional capital, retained earnings) and other income (targeted financing, charitable donations).

However, equity capital is often limited in size. If prices for financial resources are low, and the company can provide a higher level of return on invested capital than it pays for credit resources, then by attracting borrowed funds, it can strengthen its market position and increase its return on equity.

The financial position of the organization and its stability largely depend on the degree of optimality of the ratio of equity and borrowed capital.

Let us analyze the dynamics and structure of capital sources of Amurpharmacia OJSC for 2008–2009 based on the data in Table 2.

Table 2. Dynamics and structure of sources of capital of OJSC Amurfarmatsiya

Analyzing the data presented in Table 2, the following conclusions can be drawn.

Firstly, during the study, a discrepancy was discovered in the data of the annual report for 2009 (Appendix 1).

In Section III of the Liabilities Balance Sheet, the amount based on the results of this section is overstated by 14,865 thousand rubles, which makes further analysis of the financial condition of the organization somewhat distorted and requires additional research in order to identify the reasons for the discrepancy found. In fact, the data suggests that the share of equity capital of Amurpharmacia OJSC in the total capital in 2008 was 37.3%, and in 2009 it increased by 3.7% due to an increase in the amount of retained earnings.

The share of borrowed capital last year was 62.7%, and in the reporting year it decreased by the same 3.7%, although its size increased by 30,016 thousand rubles. The organization's debt for tax payments to the budget and extra-budgetary funds has decreased, but debt to other creditors has increased.

In general, the share of debt capital significantly exceeds the share of equity capital, which negatively affects the financial position of the organization.

The efficiency of an organization's use of capital can be determined using a number of profitability indicators. In addition, these indicators make it possible to judge the financial performance of the enterprise and its financial position.

Table 3 shows the initial data for calculating the efficiency of capital use of OJSC Amurfarmatsiya. Table 3 is compiled based on Appendix 2

Table 3. Initial data for calculating return on capital indicators of Amurpharmacia OJSC

Based on the data presented, we will calculate the indicators of efficiency of capital use in Table 4 and illustrate their dynamics.

Table 4. Analysis of financial results and return on assets of the organization

The indicators given in Table 4 indicate that, in general, the activities of Amurpharmacy OJSC are profitable. However, all profitability indicators in the reporting year compared to the previous year decreased significantly, which means a decrease in the efficiency of the organization's use of capital and a deterioration in its financial position.

In 2009, compared to 2007, almost all profitability indicators decreased to an even greater extent than compared to 2008. For example, return on assets, working capital and return on sales decreased by 2 times, and return on permanent capital by 54.2%, that is, by 2.5 times. Thus, there is a sharp tendency for the deterioration of the financial position of Amurfarmatsiya OJSC.

The key factors that influenced the negative change in profitability indicators are the decrease in the amount of revenue in the reporting period compared to the previous year, while the cost of goods sold increased simultaneously. As a result, the organization's profit decreased (Table 4).

To identify the reasons, it is necessary to conduct an in-depth analysis of the cost of production in the context of its elements and types of products, as well as study of sales prices, assortment, market conditions and other factors affecting financial results.

When assessing the financial condition of an organization, much attention should be paid to the analysis of receivables and payables.

Table 5. Analysis of accounts receivable turnover

Analyzing the indicators given in Table 5, it should be noted that the turnover of accounts receivable in 2009 compared to 2008 fell by 2.5 times or by 26%. Accordingly, the debt repayment period increased by 13 days. These changes were negatively affected by two factors: a decrease in sales revenue by 11,473 thousand rubles in 2009. or 2.7% and an increase in the amount of accounts receivable by 13,926 thousand rubles. or 31.7%. Moreover, the last factor has a greater impact on the negative measurement of this performance indicator, that is, accounts receivable turnover.

One of the sources of an organization's borrowed funds is accounts payable, that is, the amount of short-term obligations to suppliers, payroll employees, the budget and other financial obligations. It occurs:

– due to the existing system of settlements between organizations, when the debt of one organization to another is repaid after a certain period;

– when an organization first reflects the occurrence of debt in its accounting, and after a certain time repays it;

– due to the organization’s failure to fulfill its obligations in a timely manner.

The volume, qualitative composition, and movement of accounts payable characterize the state of payment discipline in the organization under study, which, in turn, indicates the degree of stability of the organization’s financial condition.

The size and structure of accounts payable of Amurpharmacia OJSC are presented in Table 6

Table 6. Analysis of short-term liabilities, thousand rubles.

Calculations made in table 6 show that during the analyzed period the total amount of short-term liabilities increased by 22,645 thousand rubles. or by 18%. To a greater extent, this was due to an increase in debt on the part of Amurpharmacia OJSC to suppliers and contractors, as well as an increase in the amount of short-term loans. A positive aspect is the reduction of the organization’s debt to the budget and extra-budgetary funds regarding the payment of taxes and fees.

In the structure of short-term liabilities of Amurpharmacia OJSC, the largest share falls on short-term debt, although its share decreased by 9.5% during the reporting period, including more than 50% due to debts with suppliers and contractors.

In general, an increase in the amount of short-term liabilities has a negative impact on the financial position of the organization.

Taking into account the effectiveness of the analysis, we will calculate the rational ratio of borrowed and equity funds, taking into account the turnover of receivables and payables.

Table 7. Calculation of the rational ratio of borrowed and equity funds, taking into account receivables and payables

The financial condition of an organization is manifested in its solvency, that is, in its readiness to repay debts in the event of simultaneous demands for payment from all creditors.

Liquidity of an enterprise (organization) is a more general concept. The solvency of the organization depends on the degree of liquidity. Liquidity characterizes both the current state of settlements and the future. An organization may be solvent at the reporting date, but have unfavorable future opportunities.

The analysis of balance sheet liquidity consists of comparing assets for assets, grouped by the degree of decreasing liquidity (Table 8), with short-term liabilities for liabilities, which are grouped according to the degree of urgency of their repayment.

The first group (A 1) includes absolutely liquid assets, such as cash and short-term financial investments.

The second group (A 2) includes quickly realizable assets: shipped goods, accounts receivable, taxes on purchased assets. The liquidity of this group of current assets depends on the timeliness of shipment of products, execution of banking documents, the speed of payment document flow in banks, the demand for products, their competitiveness, the solvency of buyers, and forms of payment.

The third group (A 3) is slowly selling assets (inventories, work in progress, finished goods). It will take much longer to convert them into cash.

The fourth group (A 4) is hard-to-sell assets, which includes fixed assets, intangible assets, long-term financial investments, construction in progress, deferred expenses, long-term receivables with deferred payment for a year or more.

Table 8 shows the grouping of assets on the balance sheet of OJSC Amurpharmacia by degree of liquidity.

Table 8. Grouping of assets by degree of liquidity

Accordingly, the enterprise’s obligations are divided into four groups:

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Federal agency of Education

Chitinsky State University

Department of Economics

I admit to defense

Head Department of Economics

Rybakova O.I.

"___"___________2005

Graduate work

on the topic: Analysis of financial and economic activities

MP "Pharmacy No. 27"

Completed by: student of group AUSZ-01

Zherdeva O.A.

Head: Rybakova O.I.

Introduction……………………………………………………………………………….6

1. Theoretical and methodological foundations for analyzing the financial and economic condition of an enterprise…………………………………..9

1.1The essence and objectives of the financial and economic state of the enterprise9.

1.2 Objectives and methods of financial analysis…………………………………….10

1.3 Analysis of the economic activities of the enterprise………………………12

1.4 Methodology and information support for financial analysis………………………………………………………………………………….15

2.Analysis of the financial condition of the MP “Pharmacy No. 27”…………………..33

2.1 General characteristics and main technical and economic indicators33.

2.2 Analysis of the economic activities of the pharmacy……………………………..34

2.2.1Analysis of the pharmacy’s position on the market……………………………………………………….35

2.2.2Analysis of fixed assets……………………………………………..35

2.2.3Analysis of labor and wages………………………………………………………36

2.2.4 Analysis of inventories……………………………………………………..36

2.2.5 Cost analysis……………………………………………………………..37

2.3Analysis of the financial condition of the pharmacy…………………...38

2.3.1 Assessment and analysis of property potential…………………………39

2.3.2 Analysis of the structure of assets and liabilities of the balance sheet……………………………44

2.3.3Assessment of business activity………………………………………………………...50

2.3.4Assessment of liquidity and solvency……………………………53

2.3.5 Cost-benefit analysis……………………………………………………………..57

2.3.6 Financial stability analysis………………………………………………………59

2.3.7 Analysis of the probability of bankruptcy………………………………………..61

List literature……………………………………………………….71

Appendix 1 “Balance Sheet” as of 01/01/04…………………72

Appendix 2 “Balance Sheet” as of 01/01/2005…………………75

Appendix 3 “Profit and Loss Statement” for 2003....................................78

Appendix 4 “Profit and Loss Statement” for 2004……………..….80

Appendix 5 “Report on changes in capital” for 2003………………..…82

Appendix 6 “Report on changes in capital” for 2004………………..85

Appendix 7 “Cash Flow Statement” for 2003……….88

Appendix 8 “Cash Flow Statement” for 2004………90

Appendix 9 “Appendix to the Balance Sheet” for 2003……..92

Appendix 10 “Appendix to the Balance Sheet” for 2004......98

Economic analysis has always been given great importance. It allows you to determine the efficiency of both an individual enterprise, a group of enterprises, and, ultimately, the entire economy as a whole. But with the transition to a market path of development, with the creation of a market economy, with the emergence of a huge number of independent independent enterprises and organizations, economic analysis becomes even more important.

The objectives of the economic analysis of the financial condition are: an objective assessment of the use of financial resources at the enterprise, identification of on-farm reserves for strengthening financial situation, as well as improving relations between enterprises and external financial, credit, control authorities, etc.

Financial analysis is a method of assessing and forecasting the financial condition of an enterprise based on its financial statements.

The goal of financial analysis is to assess the financial condition and identify opportunities to improve the efficiency of the functioning of an economic entity through rational financial policy.

The financial condition of an enterprise is characterized by a set of indicators that reflect the process of formation and use of its financial resources. In a market economy, the financial condition of an enterprise essentially reflects the final results of its activities. It is the final results of the enterprise’s activities that are of interest to the owners (shareholders) of the enterprise, its partners, and tax authorities.

The financial condition of enterprises characterizes the placement and use of enterprise funds. It is determined by the degree of implementation of the financial plan and the extent of replenishment of own funds from profits and other sources, if they are provided for by the plan, as well as the rate of turnover of production assets and working capital. Since the implementation of the financial plan mainly depends on the results production activities, then the financial condition, determined by the entire set of economic factors, is the most general indicator.

The financial condition is manifested in the solvency of enterprises, in the ability to timely satisfy the payment requirements of suppliers of equipment and materials in accordance with business contracts, repay loans, pay wages to workers and employees, and make payments to the budget.

The main indicators of financial condition are:

Self-sufficiency working capital;

Compliance of actual inventories of material assets with the standard;

The provision of reserves with sources of funds intended for them;

Immobilization of working capital;

Solvency of the enterprise.

The thesis is devoted to the analysis of the financial and economic situation of the MP “Pharmacy No. 27” based on the results of work for 2003 and 2004.

This analysis consists of several stages: analysis of the economic activity of the pharmacy, analysis of the property status, research of indicators of the financial stability of the enterprise, an analysis of the liquidity of the balance sheet of the enterprise is carried out and special indicators of the liquidity of the balance sheet of the enterprise are calculated and special indicators of the liquidity of the enterprise as a whole are calculated. After a general description of the financial condition and changes during the reporting period, the next important task of analyzing the financial condition is the analysis of the main profitability of the enterprise and factor analysis of the profit of the enterprise - in a structural aspect and in dynamics.

Calculation of business activity indicators.

The turnover ratio of mobile (working) funds shows:

Revenue per 1 rub. working capital;

The number of turnovers made by working capital per year.

The growth of the coefficient is assessed positively, because this indicates that in working capital the share of funds invested in calculations and cash, and this is evidence of increased liquidity of assets.

If the growth of accounts receivable outpaces the growth of revenue, then the turnover ratio decreases. Similarly, by dividing revenue by average annual accounts payable, accounts payable turnover is calculated.

Total asset turnover is the ratio of revenue from sales of products(works, services) to the average annual amount of all assets:

An assessment of business activity at a qualitative level can be obtained by comparing the activities of a given enterprise and related enterprises in the area of ​​investment of capital. Quantitative assessment is done in two directions:

· the degree of fulfillment of the plan (established by a higher organization or independently) in terms of key indicators, ensuring the specified rates of their growth;

· level of efficiency in using enterprise resources. To implement the first direction of analysis, it is also advisable to take into account the comparative dynamics of the main indicators. In particular, the following ratio is optimal:

Tpb > Tr> So > 100%, (1.8)

Tpb, Tr, So, - respectively, the rate of change in profit, sales, and advanced capital.

The above ratio can be conditionally called the “golden rule of enterprise economics.” However, deviations from this ideal dependence are also possible, and they should not always be considered negative.

Return on fixed assets - the ratio of sales revenue to the average annual cost of fixed assets and intangible assets:

Return of the main = Revenues from sales

funds Average annual cost of fixed assets

Bibliography

1. Abryutin M.S., Grachev A.V. Analysis of the financial and economic activities of the enterprise. M.: Business and Service, 2001.

2. Artemenko V.G., Belendir M.V. Financial analysis: Textbook. M.: DIS NGAEiU, 1997. .

3. Astakhov V.P. Analysis of financial stability and procedures related to bankruptcy. M.: Axis - 89, 1998..

4. Balabanov I.T. Basics financial management. M.: Finance and Statistics, 2001.

5. Barsukov A.V., Malygina G.V. Enterprise finance, Novosibirsk, 1998.

6. Gerchikova I.N. Financial management. M.: Infra-M, 2001.

7.Dontsova L.V., Nikiforova N.A. Analysis of annual financial statements. M.: DIS, 1998.

8.Efimova O.V. The financial analysis. M.: Accounting, 1999.

9. Problems of financial management / Ed. L.A. Muravya, V.A. Yakovleva. M.: Finance - Unity, 1998.

10. Irikov V.A., Irikov I.V. Technology of financial and economic planning in a company. M.: Finance and Statistics, 1999.

11. Kovalev V.V. Introduction to financial management. M.: Finance and Statistics, 2000.

12. Kovalev V.V. Financial analysis. M.: Finance and Statistics, 2002

13. Kodrakov N.P. Fundamentals of financial analysis. M.: Glavbukh, 1998. 14 Methodological provisions for assessing the financial condition of enterprises and establishing an unsatisfactory balance sheet structure. -Order of the Federal Fund for Social Affairs dated August 12, 1994. No. 31-r.

15Novodvorsky V.D., Ponomareva L.V., Efimova O.V. Accounting statements: preparation and analysis. M.: Accounting, 1998.

16. Pavlov L.N. Financial management. Managing the cash turnover of an enterprise, M.: Finance and Statistics, 1998.

17Savitskaya G.V. Analysis of economic activities of enterprises. Minsk New knowledge, 2002.

18. Enterprise management and analysis of its activities / Ed. V.N. Titaeva. M.: Finance and Statistics, 2001.

19. Financial management / Ed. E.S. Stoyanova. M.: Perspective, 2000.

21. Sheremet A.D., Sayfulin R.S. Methodology of financial analysis. M.: Infra-M, 2001..

22. Financial strategy in enterprise management / Ed. V.V. Titova, Z.V. Korobkova. Novosibirsk, 1997.

23. Financial management company / Ed. IN AND. Terekhina. M.: Economics, 1998. 98

24. Chetyrkin E.M. Methods of financial and commercial calculations. M. DeloLTD, 1995.

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Non-state educational institution higher professional education

"Tomsk Economics and Law Institute"

Department of Economics

Analysis of financial results in the organization’s activities (using the example of OGUP “Regional Pharmacy Warehouse”)

(Course work)

Completed by: group student _ 293 ___

____Vorontsova Ada Ivanovna _

Head:

Tatarnikova T.I.___

Tomsk 2012

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

1. Theoretical aspects of assessing the financial results of an enterprise...5

1.1. Enterprise profit: concept, functions, types………………………..5

1.2. Profitability: types, indicators……………………………………..11

1.3. Ways to improve the financial results of an enterprise.13

2. Brief organizational and economic characteristics of the OGUE “Regional Pharmacy Warehouse”…………………………………………………..15

2.1. General characteristics of the enterprise. Main production indicators…………………………………………………………………………………..15

2.2. Enterprise resources and efficiency of their use……………18

3. Analysis of financial results in the activities of the organization (using the example of OGUP “Regional Pharmacy Warehouse”)…………………………………………......20

3.1. Analysis of the dynamics and structure of the formation of financial results

3.2. Assessing the state of costs…………………………………………………………….. 23

3.3. Assessment of profitability indicators………………………………………………………25

Conclusion……………………………………………………….……………………………30

List of references………………………..………………………32

Applications

INTRODUCTION

A general assessment of the organization's activities is given on the basis of such resulting financial indicators as profit (loss) - an absolute indicator and profitability - a relative indicator. Profit and profitability reflect the efficiency of the production process.

In general, the concept of “financial result” has a certain economic meaning: the excess (decrease) in the cost of manufactured products over the costs of its production; excess cost products sold over the full costs incurred in connection with its production and sale; the excess of net (retained) profit over incurred losses, which ultimately is the financial and economic basis for increasing the organization’s equity capital. In a market economy, financial performance management occupies a central place in the business life of an economic entity. In addition, a positive financial result also indicates the effective and appropriate use of the organization’s assets, its fixed and working capital.

The relevance of the chosen topic of the course work is that in modern conditions, the survival of an enterprise in a competitive environment depends on its financial stability, which is achieved by increasing production efficiency based on the economic use of all types of resources, reducing costs, identifying available reserves for increasing production (work, services) and increase profits.

Financial results are the merit of the organization. Profit is the result of good work or external objective and subjective factors, and loss is the result bad work or external negative factors. Profit is, on the one hand, the main source of financing activities of organizations, and on the other hand, a source of income for budgets at various levels. Article 50 of the Civil Code of the Russian Federation states that making a profit is the main goal of the activities of commercial organizations.

In the process of analyzing and assessing the dynamics of the organization’s financial results, special attention should be paid to the most significant article their formation - profit (loss) from the sale of goods, products, work performed, services provided as the most important component of economic (net) profit.

Analysis of financial results based on the profit and loss statement as mandatory elements includes a study of changes in each indicator for the analyzed period and a study of structural changes. The study of financial results traditionally involves studying the dynamics of indicators over a number of reporting periods.

The purpose of the course work: to analyze the financial results of the enterprise.

Analysis of financial results involves solving the following tasks:

Analysis of the dynamics and structure of the formation of financial results;

Cost status assessment;

Assessment of profitability indicators.

The object of the study is the Regional State Pharmacy Warehouse.

The subject of the study is the financial results of the enterprise OGUP “Regional Pharmaceutical Warehouse”.

The study period covers the period from January 1, 2009. until January 1, 2010

Research methods: monographic, statistical, analytical.

IN course work the theoretical foundations of the analysis of the financial results of the enterprise are outlined, an analysis of profit before tax, an analysis of sales profit, an analysis of profitability are carried out, and ways to improve the financial results of the enterprise are also considered.

THEORETICAL ASPECTS OF ASSESSING THE FINANCIAL RESULTS OF AN ENTERPRISE

Enterprise profit: concept, functions, types

Profit represents part of the newly created value and acts as one of the forms of net income of society generated in the sphere of material production. The enterprise makes a profit after the value embodied in the created product, having completed the circulation stage, takes monetary form. It is part of the proceeds from the sale of products (works, services), which remains after deducting taxes paid from the proceeds and production costs. Unlike profit, the income of an enterprise represents the realized newly created value (the part of the revenue that remains after deducting the material costs of production from it).

as a target for the enterprise’s activities;

effective assessment indicator of the enterprise’s activity;

source of enterprise development and financing of its activities.

As an evaluation indicator, profit characterizes the total efficiency of using all resources of the enterprise.

The presence of profit allows you to satisfy the economic interests of the state, enterprise, workers and owners.

The availability of profit to satisfy the economic interests of the state is ensured through the payment of taxes, which the state then uses to solve social problems.

The economic interests of the enterprise lie in increasing the share of profits remaining at its disposal and directed towards its development.

The interests of workers in increasing profits are associated with the creation of additional opportunities for their material incentives.

Owners are also interested in profit growth, since profit growth means an increase in the resources of their property and an increase in the dividends they receive.

The essence of profit can be viewed from different perspectives. The most common is the distribution of profits from a functional point of view and from an origin point of view.

The founder of the functional approach is the American economist P. Samuelson. He defined profit as unconditional income from factors of production; as a reward for entrepreneurial activity, technical innovations and improvements, for the ability to take risks in conditions of uncertainty; as monopoly income in certain market situations; as an ethical category.

Supporters of the German economic school (F. Hayek, D. Sahal) consider profit from the position of its origin, namely as a “reward” earned through entrepreneurial initiative; “unexpected” profit received under favorable market conditions and circumstances, called upon by a government agency or relevant legislation (legalized).

Taking this into account, the following profit functions are distinguished:

investment – ​​since expected profit is the basis for making investment decisions;

effective - the actual profit received evaluates the efficiency of the enterprise;

financing - part of the received or expected profit is determined as a source of self-financing of the enterprise;

stimulating - part of the expected or received profit can be used as a source of material reward employees of the enterprise and payment of dividends to capital owners.

In economic practice, there are many types of profit - nominal, minimum, normal, target, etc.

Nominal profit characterizes the actual amount of profit received.

Minimum, normal, maximum profits are associated with different levels of production volume and indicate in which area the enterprise is located (break-even, profitability, unprofitability). The minimum profit is the one that provides the company with a minimum level of return on invested capital. The value of the minimum level of profitability is taken equal to the average interest rate of the bank on deposits established during the period under study.

Normal profit is the minimum income or fee required to maintain a business in a particular industry.

Maximum profit determines the target setting when planning the activities of an enterprise. Achieving it means reducing production and sales costs to a minimum.

The volume of production that ensures maximum profit is set at the point at which equality of marginal revenue and marginal costs is achieved.

Consolidated profit is profit free from accounting reports on the activities and financial results of separate parent and subsidiary enterprises. The profitability of using consolidated profit is determined by savings on tax payments and reduction of negative consequences from risky activities.

Economic profit is the difference between revenue (gross income) and economic costs (the sum of explicit and implicit costs).

Accounting profit is the difference between revenue received and accounting costs (explicit). Its value is identical to the balance sheet profit.

Sources economic profit is sales of products, other sales, non-sales operations, innovation activities, monopoly situation, uninsurable risks (changes in market conditions, tax legislation, risk associated with the development of new territorial commodity markets, risk due to the presence of inflationary processes in the national economy).

The sources of accounting profit are sales of products, other sales, and non-sales operations.

In general, the scheme for the formation and use of enterprise profits can be presented as follows (Fig. 1).

Revenue (net) from the sale of goods, products, works, services (less VAT, excise taxes)

Cost of goods, products, works, services sold

Gross profit

Business expenses

Administrative expenses

Revenue from sales

Operating income (expenses)

Non-operating income (expenses)

Accounting profit (profit before tax)

Income tax rate

Conditional income tax

Constant tax obligations

Net profit

Reserve fund

Savings fund

Consumption fund

Social Sphere Fund

Foreign Exchange Fund

Retained earnings

Profit distribution between founders (shareholders)

Figure 1. Scheme of formation and distribution of enterprise profits

Profit at an enterprise is considered not only as the main goal, but also as the main condition for its business activity. When assessing the level or change in business activity, a distinction is made between the concepts of expected profit (which can be received in the future as a result of business) and actually received.

By generalizing approaches to determining the essence of profit and taking into account the requirements of current legislation, it is possible to determine the basics of the mechanism for the formation and distribution of profit of an enterprise.

Profit is formed as a result of the following components:

profits from product sales;

balance of other income and expenses.

The consolidated profit from the sale of products (actually received) is calculated as the difference between the proceeds from the sale of products, taxes included in the price and paid from the proceeds, and the full cost of products sold.

The profit expected from the sale of products is determined taking into account the planned price of the product that can be sold on the market; planned taxes included in the price; planned level of production and sales costs (cost); planned level of product profitability.

Profit from other sales is generated from the sale of excess and unnecessary material assets in production. It is calculated as the difference between the proceeds from the sale of material assets, taxes included in the price and paid from the proceeds, as well as the costs associated with the sale of these material assets (transportation, warehousing, etc.).

Profit received from non-operating transactions is profit formed by subtracting from the income received from this operation the expenses associated with the implementation of these operations (for example, dividends from shares owned by the enterprise, from joint activities).

Taxable and non-taxable profit, net profit or profit remaining at the disposal of the enterprise, is formed in the process of distributing the profit of the enterprise.

The formation of profit as a financial indicator of work, which is reflected in accounting and official reporting of business entities, is influenced by the procedure established by the state: formation of costs for the production of products (works, services); accounting and calculation of product costs; determination of non-operating income and expenses; determination of balance sheet (gross) profit. Consequently, the formation of the absolute value of the enterprise’s profit is influenced by the results, the efficiency of its financial and economic activities, the scope of activity, and the conditions for accounting for financial results determined by law.

Features of the distribution of profit of an enterprise depend on the economic and legal form of the enterprise and on the form of ownership. The common feature of the profit distribution mechanism is that the enterprise pays income taxes, real estate taxes, income taxes and local taxes and fees from profits. The differences lie in how the profit remaining at the disposal of the enterprise is distributed, since the procedure for distributing this part of the profit is established by the owner.

In order to determine the amount of income tax, it is necessary to take into account that first the company is obliged to pay real estate tax from its profits. It is calculated based on the residual value of fixed assets listed on the balance sheet of the enterprise and the established rate of this tax. Taxable profit is determined as the difference between profit subject to profit tax and the amount of profit tax (the profit tax rate is established by law).

In the process of profit distribution, the enterprise also determines the amount of profit, which is the basis for calculating local taxes and fees (profit subject to income tax, minus real estate tax, minus income tax).

The final stage in the distribution of profit is the calculation of the profit remaining at the disposal of the enterprise (net profit) and the establishment of directions for its use.

The main direction of distribution of net profit is stipulated in the constituent agreement, charter and complies with the requirements of the law (for example, the presence of a requirement for the mandatory formation of reserve capital presupposes that the enterprise makes appropriate regular deductions from net profit).

. Profitability: types, indicators

To assess the effectiveness and economic feasibility of an enterprise’s activities, it is not enough to just determine absolute indicators. A more objective picture can be obtained using profitability indicators. Profitability indicators are relative characteristics of the financial results and efficiency of an enterprise.

The term profitability comes from rent, which literally means income. Thus, the term profitability in the broad sense of the word means profitability, profitability:

production and sale of individual types and the entire set of products (works and services);

enterprises, organizations as subjects of economic activity;

sectors of the economy.

Profitability is directly related to the amount of profit. However, it cannot be identified with the absolute amount of profit received. Profitability is a relative indicator that reflects the level of profitability and is measured as a ratio or as a percentage.

Profitability indicators are used to comparative assessment efficiency of individual enterprises and industries producing different volumes and types of products. These indicators characterize the profit received in relation to the production resources expended.

The economic essence of profitability is that it shows the amount of profit received per ruble of costs.

In the practice of enterprises, a number of profitability indicators are used.

Profitability indicators should be considered in dynamics, analyzing the reasons for their changes. Table 1 presents some profitability indicators:

Table 1 - Profitability indicators

Designations:

Pr – profit from sales;

V – sales volume for the reporting year;

A – assets (balance sheet total) at the end of the reporting year;

О к – fixed capital;

С к – equity capital (book value) at the end of the reporting year;

Pr – profit before tax;

Pch – net profit.

In addition to the above indicators, there are many others that are used to calculate various quantities and analyze the activities of an enterprise. The variety of profitability indicators determines the alternativeness of searching for ways to increase it. When analyzing ways to increase profitability, it is important to separate the influence of external and internal factors. In general, one of the conditions for the prosperity of an enterprise is to expand the sales market for products by reducing the price of the goods offered, but this is not always the case. Therefore, less attention should be paid to this external factor than to internal ones: increasing production volumes, reducing production costs, increasing the return on fixed assets.

. Ways to improve the financial performance of an enterprise

The financial results of an enterprise are characterized by the amount of profit received and the level of profitability. The greater the profit and the higher the level of profitability, the more efficiently the enterprise operates, the more stable its financial condition. Therefore, finding reserves for increasing profits and profitability is one of the main tasks in any area of ​​business. Economic analysis is of great importance in the process of managing financial results.

Its main tasks:

systematic control over the formation of financial results;

determining the influence of both objective and subjective factors on financial results;

identifying reserves for increasing the amount of profit and the level of profitability and forecasting their value;

assessment of the enterprise’s performance in using opportunities to increase profits and profitability;

development of measures to develop identified reserves.

The main ways to increase financial results (profit and profitability) at an enterprise are:

Reducing costs for production and sales of products;

Increasing production volumes;

Increase in prices for products as a result of improved quality;

Improving the use of production assets;

Improving the capital structure and sources of its formation;

Increasing the level of organization of production and management, etc.

1. Brief organizational and economic characteristics of the regional pharmaceutical warehouse

2.1. General characteristics of the enterprise. Main production indicators

Regional pharmaceutical warehouse is one of the oldest pharmaceutical organizations Tomsk region. Until 1991, he was the only supplier of medicines in the region. In November 1995, the warehouse was separated into an independent structure, and in 2003 it was reorganized into the Regional state enterprise"Regional pharmaceutical warehouse".

OGUP - regional state unitary enterprise "Regional Pharmaceutical Warehouse" is located at Tomsk, Lenin Ave., 54. The founder of the enterprise is the Tomsk region represented by the Department for State Property Management of the Tomsk Region. The powers of the owner of the enterprise's property are exercised by the State Duma of the Tomsk Region, the Administration of the Tomsk Region, and the authorized regional body for the management of regional state property within the framework of their competence. The enterprise is a legal entity, has an independent balance sheet, current and other bank accounts, a round seal containing the full company name and an indication of the location of the enterprise, a stamp, and forms with its company name.

The company was created for the purpose of carrying out pharmaceutical activities, meeting public and government needs for the results of its activities and making a profit.

To achieve the goals stated above, the enterprise carries out the following activities in accordance with the procedure established by current legislation:

Carrying out all operations for the receipt of medicines and medical goods from suppliers in accordance with current legislation and concluded agreements;

Wholesale supply of medicines and medical goods to medical and preventive organizations, pharmacies and other organizations;

Retail distribution of medicines and medical goods to the population through a network of pharmacies and a small retail network;

Organization of preferential provision, etc.

Today the number of warehouse employees is 40 people. These are specialists with higher and secondary pharmaceutical education.

The regional pharmacy warehouse is a supplier to most healthcare institutions in the Tomsk region. Among them: Regional Clinical Hospital, Regional Psychiatric Hospital, Regional Oncology Hospital, Regional Narcological Dispensary and other medical institutions. The pharmacy warehouse has many years of experience working with suppliers and manufacturers of medicines and medical devices.

The regional pharmacy warehouse has a guarded premises with an area of ​​2000 square meters, equipped with all the necessary equipment for receiving, storing and dispensing medicines, which allows maintaining the quality of medicines in accordance with their physical and chemical properties. The work of the Regional Pharmacy Warehouse is completely computerized. The organization owns its own fleet of vehicles for transporting medicines to areas of the city and region.

The regional pharmacy warehouse is a supplier to most healthcare institutions in the Tomsk region; among them: Regional Clinical Hospital, Regional Psychiatric Hospital, Regional Oncology Hospital, Regional Narcological Dispensary and other medical institutions.

The pharmacy warehouse has many years of experience working with suppliers and manufacturers of medicines and medical devices.

The main suppliers of medicines are: Irbit Chemical and Pharmaceutical Plant OJSC, Kemerovo Pharmaceutical Factory OJSC, Vitamax Company, Firm CV Protek CJSC and others.

One of the main indicators reflecting the scale of activity is revenue from product sales, data on which are presented in Table 2.

Table 2 – Revenue from sales and its structure in the OGUE “Regional Pharmacy Warehouse”

Compared to 2009, sales revenue in 2010 increased by 75,820 thousand rubles. (by 49.7%). This was due to an increase in the amount of revenue from retail, which increased by 999,981 thousand. rub. At the same time, it is necessary to note a decrease in revenue from wholesale trade by 23,352 thousand rubles. (by 15.4%).

These changes led to a change in the sales structure. The share of revenue from retail sales increased by 42.8% and the share of revenue from sales decreased by the same amount wholesale trade, which is clearly shown in Figure 3.

Figure 3 – Structure of trade turnover of OGUE “Regional Pharmacy Warehouse”

Enterprise resources and efficiency of their use

The process of product production is the purposeful activity of people in processing raw materials into a finished product. Classical political economy, understanding the main factors of production as its most important elements, without which the production process is impossible, identifies as such the means of labor, objects of labor and living labor itself.

Factors of production are the main elements of the production process, which, firstly, take a direct and immediate part in it, secondly, use (participation) in the production process determines their partial wear or complete consumption, thirdly, the cost of worn-out (used) ) their parts are taken into account in production costs and transferred to the cost of the finished product, after the sale of which it is returned to the owner of a particular production factor in the form of cost compensation.

To carry out economic activities, OGUP has fixed and working capital (Table 3).

Table 3 - Main factors of production of OGUP

OGUP "Regional Pharmacy Warehouse" has significantly increased the average annual value of its assets over two years. Thus, the average annual cost of fixed assets at full cost increased by 25,333.5 thousand rubles. (by 82.5%), and for the residual – by 23253.0 thousand rubles. (by 80.7%); The average annual balance of working capital also increased. Compared to 2009, in 2010 it increased by 11,862.0 thousand rubles. (31.9%). The average number of employees of the enterprise, on the contrary, decreased by 18 people (24.6%).

Effective management of an enterprise’s activities depends on the manager’s ability to use financial analysis indicators to justify management decisions. The results of the analysis allow us to assess the financial condition, solvency, financial stability, business activity, as well as the efficiency of the pharmacy organization. The article examines the essence of various financial analysis techniques used to evaluate the activities of pharmacy organizations. The most popular financial indicators are highlighted, allowing one to evaluate the specific features of a pharmacy that performs socially important functions. To justify management decisions, it is necessary to correlate the changing operating conditions with the results of financial analysis. The existing logical sequence of stages of financial analysis is the basis of management activities, and existing financial indicators can be used to justify management decisions.

financial ratios.

balance sheet

control

pharmacy organization

the financial analysis

1. Bank V. R. Methodology of financial analysis of the activities of economic entities / Bank V. R., Bank S. V. // Auditor. - 2004. - No. 7. - P. 29-37.

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12. Sheremet A. D. Methodology of financial analysis of activities commercial organizations/ Sheremet A.D., Negashev E.V. - M.: Infra-M, 2008. - 208 p.

The key objective of state policy in the field of healthcare is to preserve and strengthen the health of the population, increase the availability and quality of medical and drug care. Pharmacy organizations play a central role in all processes of providing medicinal care, on whose activities its quality and accessibility largely depend. Most pharmacy organizations, regardless of their form of ownership, perform the functions specified in paragraph 2.5 of Order No. 80 of the Ministry of Health of the Russian Federation dated March 4, 2003, “Rules for the dispensing (sale) of medicines in pharmacy organizations. Basic provisions": they sell ready-made products to the population and healthcare institutions medicines, homeopathic medicines and pharmacy products with prescriptions and without a doctor’s prescription, according to requirements or applications, provide the public with information on the proper use and storage of medications at home, and provide advisory assistance in order to ensure responsible self-medication. Performing these functions allows the pharmacy organization to maintain profitability.

The production of extemporaneous dosage forms, the dispensing of drugs free of charge or at a discount to certain categories of the population, the sale of narcotic drugs and psychotropic substances, due to their cost and unprofitability, were retained by pharmacy organizations of state and municipal ownership (SUE and MUP). These functions are socially important; the quality of life of socially vulnerable groups of the population, incurable patients, patients with serious illnesses and citizens with complicated nosologies depends on the effectiveness of their implementation. At the same time, state unitary enterprises and municipal unitary enterprises are independent business entities and in the process of carrying out activities must ensure their own satisfactory financial condition, i.e. provide the process of economic activity with financial resources.

In this regard, the study, analysis and diagnosis of the financial and economic activities of such pharmacy organizations play a special role for survival in harsh competitive conditions and pursue two goals:

• generation of information about property and financial status;
• obtaining information about effective use equity capital and assets, as well as loans made.

IN last years Pharmacy organizations themselves began to pay special attention to financial analysis. Comprehensive Study financial activities allows you to give not only an objective assessment of the activities of the institution, its competitiveness, improve the quality of management and decision-making, but also increase the overall level of competence of managers in matters of financial management [ 3 ].

Currently, a logical sequence of stages of financial analysis has developed, and management activities on this basis can be represented in three directions:

• express analysis - assessment of the current financial situation and identification of main trends of change;
• using the results of internal and external audits to determine the causes of the current financial situation and assessing the impact of management decisions on the financial condition;
• justification of the feasibility of implementing specific economic and financial decisions in accordance with the development goals of the organization.

The first block of research is aimed at financial analysis of indicators characterizing the use of financial resources, profitability, solvency and sustainability. Depending on the results of the first block, a second block of financial research should be carried out, related to determining the financial effectiveness of the enterprise’s business plan. When conducting a financial analysis of a pharmacy organization, special attention should be paid to assessing the possibility of its functioning in the future, to assess whether it is a potential bankrupt.

The main criteria for assessing financial condition are indicators of solvency, financial stability, and profitability. According to the analysis method proposed by A.D. Sheremet and A.D. Negashev, the financial condition of any enterprise is characterized, first of all, by the placement of its funds, the state of its sources and depends on the ways of their formation. Key indicators for assessing financial condition that can be used to make informed management decisions are:

• level of provision with own working capital;
• the amount of immobilization of working capital;
• working capital turnover and solvency;
• the degree of compliance of reserves of existing assets with standard values ​​and the amount intended for their formation.

According to this method, the priority stage in diagnosis is to determine the availability of own and equivalent funds, identifying the factors that influenced their change in the period under study. To calculate the availability of own and equivalent working capital, the following indicators are used: sources of own funds; sources of funds equivalent to own and working capital, investments in fixed assets and non-current assets.

Sheremet A.D. and co-authors propose, when analyzing the financial condition of an enterprise, to consider the immobilization (diversion) of working capital and consider the indicators of working capital turnover, since its components fully meet the requirements of the economy. For pharmacy organizations performing socially important functions, the analysis of working capital turnover is considered separately for each group (goods, cash, accounts receivable) and characterizes not only the business activity of the organization, but also allows you to determine the speed of implementation. To make management decisions, it is important to correlate the changing operating conditions with the obtained results of financial analysis.

In the methodology for analyzing the financial condition of an enterprise developed by S. B. Barngolts and B. I. Maydanchik, the approach to analysis is much deeper. The center of the diagnosis is the direct study of the organization's balance sheet. The authors consider the main criteria for the stability of the financial condition to be: compliance with financial discipline; provision of own working capital and, above all, the solvency of the organization. The main signs of insolvency and unsatisfactory financial condition are: overdue debt and long-term continuous use of loans. The results of this analysis allow the head of a pharmacy organization to determine the ineffective use of funding sources.

The difference and advantage of this methodology is the study of the reasons that caused the change in the amount of own working capital for each source. The analysis of all working capital of the enterprise is carried out in conjunction with their sources. Carrying out an analysis of the working capital of a pharmacy organization is also necessary because the assortment can be divided into two groups - “mandatory”, controlled by the state, and “free”, formed depending on the demand and financial capabilities of the organization. The rate of return on investment and turnover rates of these groups are different. To assess the turnover of working capital, a whole system of indicators is used; a comparison of the results obtained allows us to evaluate the business activity of the organization and outline ways to improve it.

In the methodology of V.F. Paliy, the information basis for conducting financial analysis is the step-by-step transformation of the gross balance sheet into the net balance sheet, and then conducting a financial analysis of the main indicators of the composition of property and performance results. At the same time, sufficient attention should be paid to the importance of non-current assets when analyzing the property of enterprises, which is relevant due to the presence in industrial pharmacy organizations of a significant share of fixed assets used in production activities.

To analyze the financial condition of enterprises, including those operating in the healthcare sector, a technique developed by A. D. Sheremet, R. S. Seifulin and E. V. Negashev is often used, which is based on the method of relative indicators (coefficients) used for a detailed study of the financial condition of enterprises. Analysis of the work of pharmacy organizations is usually carried out using 32 coefficients, which can be divided into 5 groups: liquidity, financial stability, asset management, profitability and investment. The advantage of using the coefficient method is the use of relative indicators that are not subject to inflationary processes.

The analytical balance sheet and financial stability indicators reflect the essence of the financial condition, and the liquidity of the balance sheet characterizes the external manifestations of the financial condition of the organization. In relation to pharmacy organizations, analysis of balance sheet liquidity allows one to assess current solvency and give a conclusion about the possibility of maintaining financial balance and solvency in the future.

According to A.D. Sheremet, the key goal of financial analysis is to obtain a certain number of basic parameters that provide an objective and reasonable description of the financial condition of the enterprise. In relation to the analysis of the financial condition of a pharmacy organization, it is important to analyze changes in the structure of assets and liabilities, as well as changes in accounts receivable and payable and factors influencing the formation of profit.

In our opinion, this approach is appropriate, since managers of pharmacy organizations perform various functions during the day and do not have enough time to conduct a full financial analysis. The use of key financial indicators allows the manager to have an idea of ​​the main areas of activity.

Based on the results of the diagnostics, any organization can be in one of four types of financial condition . The first type is absolute stability. This type corresponds to the minimum values ​​of inventories and costs. The second type is normal stability. This type is characterized by standard values ​​of inventories and costs. The third type is an unstable state, which corresponds to unprofitable values ​​of inventories and costs. The fourth type is a crisis state, which is characterized by immobile and slow-moving inventories and overstocking of the organization due to a decrease in demand. The established type of sustainability of the organization determines the direction of the manager’s management decisions.

When carrying out diagnostics according to the schemes proposed by V.P. Astakhov, as well as A.D. Sheremet and R.S. Saifulin, to characterize various aspects of the financial condition, both absolute indicators and financial ratios are used, which are relative indicators of the financial condition.

Analysis of financial ratios consists of comparing their values ​​with standard and basic values, as well as studying their dynamics over several reporting periods. For state unitary enterprises and municipal unitary enterprises, theoretically substantiated or obtained as a result of expert surveys values ​​that characterize the optimal or critical values ​​of relative indicators, which can serve as standards for financial ratios, can serve as a basis for comparison.

For pharmacy organizations, when conducting financial diagnostics, the first level of indicators are coefficients that characterize the main aspects of the organization’s activities. At the next level, intermediate indicators are determined that characterize more general areas and states of activity (property, solvency, etc.), then coefficients are established that make it possible to evaluate each area. The use of relative indicators to assess the financial condition of a pharmacy organization has found wide application and the process of grouping these indicators not only for analysis, but also for justifying management decisions remains important.

Tyurenkov I.N., Naumova N.A. and Biteryakova A.M. created a system of control over the state of financial and economic activities of a pharmacy organization, consisting of indicators of four levels.

Level I: profitability threshold; amount of expenses; margin of financial strength; priority payments to creditors. According to the authors, first-level indicators should be in the manager’s field of vision every day.

Level II: inventory turnover; the ratio of accounts payable and inventory, as well as the volume of turnover; the share of accounts receivable in the volume of current assets; labor efficiency and productivity coefficients. Financial indicators of the second level of control are determined based on the results of work for the month and can be used to manage business activity pharmacy organization.

Level III: coefficient of autonomy; investment ratio; coefficient of provision of inventory with own working capital; coefficient current liquidity; liquidity ratio; level of trade overlays; average level trade allowance; return on sales (or commercial margin); operating leverage effect; effect of financial leverage (when using a bank loan); coefficient of solvency restoration (in case of loss of solvency). Third-level analytical ratios are calculated to evaluate performance for the quarter when completed financial statements are available.

Level IV: net balance sheet; the share of non-current assets in property; total capital turnover; overall profitability; coefficient of serviceability of fixed assets; average rate of depreciation of fixed assets; the growth rate of labor productivity and wages and the relationship between these indicators; capital-labor ratio. Indicators of the fourth level characterize the financial condition of a pharmacy organization based on the results of its work for the year.

Decree of the Government of the Russian Federation dated June 25, 2003. No. 367 “On approval of the rules for conducting financial analysis by arbitration managers” establishes the procedure for conducting an analysis of the financial condition of organizations. The main goal of this analysis is to obtain an objective assessment of the financial condition, solvency, financial stability, business and investment activity, as well as the efficiency of the business entity.

All methods used are based on the analysis of data from official accounting documents and state the results of the organization’s activities, for which management decisions may be made with some delays. However, in order to provide information and analytical support for management decision-making processes throughout the reporting period, the manager needs timely grouping and interpretation of interrelated financial indicators.

Thus, existing methods of financial analysis make it possible to establish an objective assessment of the activities of a pharmacy organization. The approach and proposed methods of financial analysis outlined above, as well as the financial indicators used, allow managers to conduct an in-depth analysis of the organization’s performance only based on reporting data. That is why every manager must not only know the technology of conducting a financial analysis of an enterprise, but be able to draw the necessary conclusions based on it, develop and propose measures to the enterprise to improve its financial condition. At the same time, the issue of operational management of a pharmacy organization based on the use of financial indicators not only to evaluate activities, but also to justify and make management decisions remains important for the manager.

Reviewers:

• Gatsan V.V., Doctor of Pharmaceutical Sciences, Professor, Head of the Department of Organization and Economics of Pharmacy, Pyatigorsk State Pharmaceutical Academy, Pyatigorsk.
• Kaisheva N. Sh., Doctor of Pharmaceutical Sciences, Professor of the Department of UEF FPO, Pyatigorsk State Pharmaceutical Academy, Pyatigorsk.

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