Financial results commercial organization characterized by the amount of profit received and its level of profitability.

The main sources of information when conducting analysis are analytical data accounting and income statement.

Algorithm and sequence of analysis of financial results

A. D. Sheremet proposes to analyze the profit and profitability of products in the following sequence:

A number of indicators are formed in which the financial results of the organization are manifested.” At the same time, indicators such as gross profit, profit (loss) from sales, profit (loss from sales and other non-operating activities, profit (loss) before tax (total accounting profit), profit (loss) from ordinary activities, net profit ( retained earnings (loss) of the reporting period).

The analysis at the preliminary stage is carried out both in terms of absolute profit indicators and in terms of its relative indicators, for example, in terms of the ratio of profit to sales revenue - in terms of profitability of sales.

An in-depth analysis is carried out by studying the influence on the profit margin and return on sales of various factors, which are divided into a group of external and a group of internal factors.

Then the impact of inflation on financial results from product sales is analyzed.

The quality of profit is studied - a generalized characteristic of the structure of sources of profit generation.

An analysis of the profitability of the enterprise's assets is carried out.

Marginal profit analysis is carried out.

1. A classification of profit is given, which is considered as an indicator of the effect economic activity. For analysis purposes, profit is classified:

• in order of formation: gross profit, marginal income, profit before tax, net profit;
• by sources of formation: profit from the sale of services, profit from the sale of property, non-operating profit;
• by type of activity: profit from ordinary activities, profit from investment activities, profit from financing activities;
• by frequency of receipt: regular profit, extraordinary profit;
• by nature of use: profit directed to dividends (consumed), profit capitalized (retained) profit.

At the same time, it identifies the following profit management goals:

• maximizing profits in accordance with the resources of the enterprise and market conditions;
• achieving an optimal balance between the maximum possible level of profit and the risk of obtaining it;
• high quality profits;
• ensuring an appropriate level of dividend payment to owners;
• ensuring sufficient investment from retained earnings;
• increase market value enterprises;
• security effective programs staff participation in profit distribution.

2. Profit indicators are formed, the basis for their calculation is revealed, and the relationships between them are revealed.

3. Listed economic forces influencing the amount of profit, a factor analysis of profit before tax is carried out.

5. An analysis of the “quality” of profit is carried out, which is understood as “a generalized characteristic of the structure of the sources of the organization’s profit generation.” Profit is of high quality if production volume increases, production and sales costs decrease; low quality of profit means that there is an increase in product prices without an increase in output and sales in physical terms. In addition, the quality of profit is characterized by:

• the state of settlements with creditors, the less overdue accounts payable, the higher the quality of profit;
• level of profitability of sales;
• profit adequacy ratio;
• profitability structure by product type.

6. The organization’s cash flows are examined in order to determine the adequacy of revenues Money for current activities to ensure outflows from the current and investment activities of the enterprise. It is proposed to link the analysis of financial results with the analysis of cash flows.

7. Analysis is carried out financial results according to the financial statements of the enterprise, i.e., their level, dynamics (horizontal analysis of the profit and loss statement) and structure (vertical analysis) are studied.

8. A scheme for factor analysis of total accounting profit (profit before tax) and profit from product sales is proposed.

9. Changes in profit from product sales are influenced by factors of two groups. The first group includes: changes in the volume of product sales assessed at the base or planned cost, changes in the volume of products due to changes in the structure of products. The second group of factors is represented by savings from reducing production costs, savings from reducing product costs due to structural changes, changes in costs due to changes in prices for materials and tariffs for services, and changes in prices per ruble of products.

The disadvantage of this methodology is that when disclosing the composition of factors influencing changes in profit, a methodological error was made, which consists in the fact that it is recommended to take into account the influence of the same factor on changes in profit twice, namely, a structural shift in the product range is taken into account simultaneously in two groups of factors. It can be noted that the proposed classification of factors and its division into two groups raises questions.

10. Then it is recommended to analyze the use of profit on the basis of the income statement, considering the main areas of use of net profit. The author proposes, in the course of vertical and horizontal analysis of the use of net profit, to calculate the capitalization ratio, the rate sustainable growth equity capital, profit consumption ratio. In this case, the profit capitalization coefficient is understood as the share in the total net profit of funds allocated to reserve funds and the accumulation fund; the consumption coefficient is the share of funds from net profit allocated for consumption (consumption fund, social fund, dividends, charitable and other purposes) in the total net profit. The rate of sustainable growth of equity capital is the ratio between the difference between net and consumed profit and the average amount of equity capital for the analyzed period.

11. It is suggested that the final stage of the analysis of financial results should be a profitability analysis, within the framework of which profitability indicators should be determined, a definition of economic and financial profitability is given, considering the effect of financial leverage, and an analysis of the return on assets, equity capital, profitability of products and production assets is carried out.

Summarizing the above, it can be noted that the methodological approach to the content of the economic analysis of the financial results of an enterprise should be as follows:

The analysis of financial results should be carried out, observing the logic of movement from the general to the specific and, further, to determining the influence of the specific on the general. In other words, first, general indicators of financial results in their dynamics are analyzed, then their structure is studied, the change in the analyzed period in relation to the base period or business plan is determined; factors whose action led to changes are identified, indicators that can be used to quantify the influence of factors on changes in financial results.

Detailed analysis of financial results based on an in-depth study of private indicators and identification of reserves for profit growth

Following this logic of analysis, first of all, the formation of profit is studied, i.e. the mass, dynamics and structure of the total (general accounting) profit of an enterprise, identifying the factors of its change and potential reserves.

Then the following are analyzed:

• components of total profit, which are profit from sales and profit from other activities (operating and non-operating profit);
• profit in terms of production of specific types of products, specific contracts with customers;
• profit from other activities in the context of individual operations and transactions;
• profitability (profitability) of activities, in particular, return on sales, which characterizes the amount of profit for each ruble of sales revenue.

The next direction is the analysis of profit from sales as part of marginal income, highlighting semi-fixed and semi-variable costs for the entire enterprise and at the level of a specific product. And finally, marginal analysis or analysis of incremental values ​​of revenue and costs is carried out in order to determine the volume of production (sales) that corresponds to the possibility of the enterprise obtaining the maximum amount of profit from sales.

The indicators used for analysis are assessed in basic, planned and actual prices, taking into account the effects of inflation, risk factors and uncertainties in making a profit.

Calculations of changes in financial results are carried out by direct calculation and using various methods of economic analysis, the content of which is studied in his theory, which makes it possible to reveal the system of particular changes under the influence of various factors and show its connection with changes in general indicators.

At the same time, sources of profit are being studied, the degree of stability of profit is being made, and measures are being developed to realize reserves and forecast financial results.

The distribution and use of profits is an important economic process that ensures both covering the needs of the enterprise and generating government revenues. The profit distribution mechanism should be built in such a way as to help improve production efficiency and stimulate the development of new forms of management.

An economically sound profit distribution system at an enterprise should maximally meet the production, material and social needs of the organization. The distribution of profits at the enterprise reflects the process of forming funds and reserves of the enterprise to finance the needs of production and social development.

Specific forms and methods of profit distribution are constantly changing and developing with growth social production and with changing challenges facing the economy. Each stage in the relationship between the budget and the enterprise regarding the distribution of profits gave rise to new forms and methods of this distribution.

At an enterprise, net profit is subject to distribution, i.e., profit remaining at the disposal of the enterprise after paying taxes and other obligatory payments.

IN modern conditions management, the state does not establish any standards for the distribution of net profit. The size of the reserve fund of enterprises is legally limited, and the procedure for forming a reserve for doubtful debts is regulated.

The distribution of profit remaining at the disposal of the enterprise can be carried out by directing it to various needs of the enterprise (Fig. 5).

Fig.5. The main directions of distribution of enterprise profits

The profit remaining at the disposal of the organization is distributed into two parts - capitalized and consumed. The first part increases the organization's equity capital, and the second is used for consumption.

Optimizing the proportions between capitalized and consumed parts of profit is one of the most important and difficult tasks of managing a trading organization.

The capitalized part of the profit is used to form reserve and other insurance funds, finance production development (construction of new, expansion and reconstruction of existing production facilities, acquisition and modernization of equipment, improvement of trade and technological processes, increase of own working capital), as well as to repay long-term loans and borrowings. At the same time, it is not necessary to use all the profit allocated for accumulation. The remainder of the profit not used to increase property has a reserve value. The presence of retained earnings in the liabilities side indicates financial stability trade organization, availability of reliable own source for further development.

The consumed part of the profit is used to pay income to property owners (dividends on shares, interest on deposits), to provide material incentives for staff (bonuses employees based on the results of the organization’s work, incentives for completing one-time, particularly important tasks), for social needs (expenses for the operation of social and welfare facilities on the balance sheet, financing the construction of housing and other non-production facilities, expenses for health-improving and cultural- mass events, rendering financial assistance employees, one-time benefits to retiring labor veterans, pension supplements, etc.), as well as for charitable purposes.

Profit indicators become the most important for assessing production and financial activities enterprises. They characterize the degree of it business activity and financial well-being.

Analysis of the formation of financial results is carried out both within the organization itself - for the purposes of asset management, and by external users of information, business partners or shareholders.

To carry out further analysis of profit, we will analyze the indicators that form it, and also analyze the dynamics of these indicators (Table 8).

Table 8

Dynamics of indicators that form the profit of Metalstroypostavka LLC for 2010-2012

The organization’s income in 2011 compared to the previous year increased by 183,679 thousand rubles, that is, their growth was 16.6%; in 2012, compared to 2011, income decreased by 336,955 thousand rubles, a decrease of 26.1% .

Income from core activities in 2011 increased by 197,339 thousand rubles, an increase of 20.47%, in 2012 the decrease amounted to 552,582 thousand rubles, or 47.6%. At the same time, other income in 2011 decreased by 13,660 thousand. rubles (9.5%), in 2012 increased by 215,627 thousand rubles.

The cost of products sold increased in 2011 compared to 2010 - its growth was 17.8%. This indicates the increasing expenses of the enterprise in 2011 compared to 2010; they increased by 175,718 thousand rubles, that is, 1.7 times, which may be a consequence of the uneconomical use of available resources. At the same time, in 2012 compared to 2011, the cost decreased by 389,398 thousand rubles. or by 40.4%. Expenses in 2012 decreased by 189,808 thousand rubles.

There is an increase in interest payable by 7579 thousand rubles, in 2011 and 14323 thousand rubles, in 2012 - 71.5% and 78.73%, respectively, which indicates an increase borrowed money and enterprises. The amount of other expenses of the enterprise also tends to increase in 2011 by 10,308 thousand. rubles, in 2012 by 212855 thousand rubles. Taken together with the decrease in revenue from product sales, we can talk about a sharp decrease in the volume of production and sales of products.

Let us analyze the dynamics of the structure of the results (Table 9).

Table 9

Dynamics of the structure of results of LLC Metalstroypostavka for 2010-2012

The table data shows that revenue from the sale of goods occupies the largest share in the structure of the enterprise’s income, so in 2010 its share was 87.1%, in 2011 90%, in 2012 63.8%. The share of other income in 2012 increased significantly compared to 2011 (by 26.2%) and amounted to 36.2%, in 2011 10% and in 2010 - 12.9%. The cost of goods occupies the largest share in the structure of enterprise expenses, in 2010 - 82.2%, in 2011 - 82.3%, in 2012 there was a decrease in the share of product costs by 23.8% and it amounted to 58.5% . The decrease in the share of product costs in 2012 is explained by an increase in other expenses of the organization by 212,855 thousand rubles, their share in 2012 was 36.8%, in 2010 13.9%, and in 2011 other expenses occupied the smallest share - 12.7%. Since the revenue and profit of the enterprise have decreased, the corporate income tax is correspondingly reduced.

To analyze the dynamics of profit indicators, a table is compiled (Table 10), which uses the data financial statements LLC "Metalstroypostavka" from Form No. 2 "Profit and Loss Statement" for a number of years.

Table 10

Dynamics of profit indicators of Metalstroypostavka LLC for 2010-2012

An analysis of the profit indicators of Metalstroypostavka LLC shows that the company has observed an increase in the growth rate of profit from sales in 2011 132.41% > 91.02% (growth rate of profit before tax). This ratio indicates a relative increase in profit from the core activities of Metalstroypostavka LLC. The net profit indicator in 2011 decreased and amounted to 89.43% or - 4977 thousand rubles. In 2012, the growth rate of sales profit decreased by 26.56%, profit before tax decreased by 118.32%. Gross profit in 2010 increased by 36.6% or by 51,621 thousand rubles, and in 2012 decreased by 163,184 thousand rubles. Sales profit in 2011 amounted to 98,193 thousand rubles; compared to 2010, its increase was 32.41%; in 2012, this figure decreased significantly by 124,276 thousand rubles. As a result, in 2012, the company, based on the results of its activities, received a net loss in the amount of 57,811 thousand rubles.

Table 11 shows the dynamics of the enterprise's assets and financial results.

Table 11

Dynamics of assets and financial results of LLC Metalstroypostavka for 2010-2012

The table shows that the average annual value of the enterprise’s assets in 2011 increased by 230,403 thousand rubles, the growth rate was 151.36%; in 2012, compared to 2011, the growth rate was 115.61% (105,986 thousand rubles) . Ratio of sales revenue to average annual cost assets characterizes the efficiency of an enterprise's use of resources, regardless of the sources of their formation. The asset turnover ratio shows the number of complete product circulation cycles for the analyzed period. Or how many monetary units products sold brought each monetary unit of assets. Or in other words, it shows the number of turnovers of one ruble of assets during the analyzed period. In 2010 it was 2.1, in 2011 1.7, in 2012 0.7 - a noticeable decrease in this indicator.

We can most clearly present the dynamics of assets and financial results in Figure 6.

Fig.6.

Having looked at Fig. 6 we come to the conclusion that the average annual value of assets of Metalstroypostavka LLC is steadily growing from 448,581.5 thousand rubles. up to 678984.00 thousand rubles. in 2011 (+ 51.36%) and up to 78,497.00 thousand rubles. in 2012 (+ 15.61%), respectively.

As for the revenue from the sale of goods, looking at Figure 6, we come to the conclusion that it (revenue) is unstable (963871.00 thousand rubles in 2010; 1161156.00 thousand rubles in 2011 and 608574.00 thousand rubles in 2012 respectively).

The company's net profit decreases every year (47,078.00 thousand rubles in 2010; 42,101.00 thousand rubles in 2011 and -57,811.00 thousand rubles. As of 2012, the company is suffering a loss.

To assess the “quality” of financial results, the following ratios are calculated:

Cost of sales to sales revenue, commercial expenses to sales revenue, administrative expenses to sales revenue. The results obtained allow us to judge how effectively various management functions (production, commercial and sales, administrative and managerial) are carried out at the enterprise, as well as the ability of the enterprise to manage costs.

Also, to assess the “quality” of financial results, the ratio of profit (loss) from sales to sales revenue, profit (loss) before tax to sales revenue, net profit (loss) to sales revenue is calculated. Each subsequent indicator is influenced by an increasing number of factors. The purpose of calculating and analyzing the dynamics of these ratios is to confirm the stability of net profit from each ruble of sales.

The ratio of profit (loss) from sales to sales revenue allows you to assess the real level of efficiency of the organization's sales management. The ratio of profit (loss) before tax to sales revenue allows you to assess the impact of other income and expenses on the final financial result. It must be taken into account that many other income and expenses are of a variable, random nature. Therefore, if the value of the resulting ratio is high, this indicates a low quality of net profit. The formation of net profit should be dominated by income and expenses, which are the subject of the organization’s core activities. In this case, it is appropriate to talk about high quality net profit.

When comparing the values ​​of the second and third ratios, you can assess the impact of the tax factor on net profit.

To assess the profitability of ordinary activities, the following group of indicators is used:

1) Return on sales () shows the amount of profit received from each ruble of revenue from the sale of goods, products, works, services:

where is profit from sales of goods, products, works, services (F. No. 2, p. 050);

2) Profitability of expenses for ordinary activities () - allows you to estimate how much profit the organization received from each ruble of costs for the production and sale of products, works, services:

Where - total amount expenses for ordinary activities (full cost of goods, products, works, services sold - form No. 2, Σstr.020,030,040);

3) profitability of production costs () – characterizes the amount of profit from each ruble of costs associated with the production of products, works, services:

where is the cost of goods, products, works, services sold, which includes costs associated with production and its organization (form No. 2, page 020).

4) profitability of management expenses () - shows the amount of profit received from each ruble of management expenses:

5) profitability of commercial expenses () - allows you to estimate the amount of profit received from each ruble of commercial expenses.

Institute of Economics, Management and Law (Kazan)

Nizhnekamsk branch

Faculty of Economics

Department of Accounting and Audit

Course work

topic: Analysis of the financial results of the enterprise

by discipline: Complex economic analysis

Edinaya Olga Nikolaevna

2. Analysis and assessment of the financial results of the enterprise

2.2 Sales profit analysis

3. Ways to improve the financial results of an enterprise

List of used literature

Introduction

In a market economy, the most important indicator of an organization's performance is efficiency. The concept of “performance” consists of several important components of the financial and economic activities of an organization. Most general characteristic The effectiveness of the financial and economic activities of an organization was considered to be turnover, that is, the total volume of sales of products (services) for a certain period. For organizations operating in a market economy, the main indicator reflecting the effectiveness of their activities is profit.

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

IN 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; the excess of the cost of 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 expedient use of the organization’s assets, its main and working capital.

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 the activities of organizations, and on the other, 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.

Making a profit will ensure the further development of a commercial organization. At the same time, the resulting profitability should be considered not only the main goal, but also the main condition for the business activity of the organization, as a result of its activities, the effective implementation of its functions of providing consumers with necessary goods in accordance with the existing demand for them.

In a market economy, research into financial results in order to alternative uses resources, as well as the search for factors that influence their size, is of priority importance, since the efficiency of the business depends on the depth of knowledge and the correct use of the results obtained. Analysis of financial results is one of the most important aspects of studying the economic activities of an enterprise. Studying the composition and structure of profit and conducting factor analysis of the sales result are necessary for assessing financial performance and economic forecasting. The purpose of analyzing financial results is to quantify the reasons that caused a change in profit or loss, tax payments from profit to the budget, to identify the impact of costs on changes in financial results or the impact of price changes caused by market conditions.

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. AND The study of financial results traditionally involves studying the dynamics of indicators for a number of reporting periods.

Analysis of financial results involves solving the following tasks:

analysis of the composition and dynamics of profit;

analysis of financial results from ordinary and other activities;

analysis of the distribution and use of profits.

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.

1. Theoretical basis analysis of the financial results of the enterprise

1.1 Economic essence financial results

In modern economic science, the term “profit” and its content cause a lot of controversy and different interpretations. The current possibility of ambiguous interpretation of the definitions of types of profit gives rise to problematic situations associated with the assessment and study of this complex economic category. As the economic theory the complex of concepts and terms that define profit has undergone significant changes from the simplest as income from production and sales to a concept that characterizes the final financial results in all its diversity commercial activities.

The concept of profit has become increasingly more complex as economic theory has developed. Moreover, the interpretation of profit was and remains quite controversial. Without a doubt, common to all economists in the field of profit is the view that profit is a difference, a deviation, a remainder. Researchers are unanimous in viewing profit as “something” contained in the proceeds of a sale. Disagreements, and very significant ones, arise when trying to establish what components this “something” consists of. So, according to J. Art. Mill, for example, profit is calculated by subtracting from the company’s income the costs of purchasing necessary goods and services (raw materials, transport), as well as payments to personnel wages. This interpretation of profit as a composite income was challenged by MacKilloch, and then, after some hesitation, by A. Marshall. In their opinion, in addition to the above-mentioned costs, the remuneration of the capital used in this production should also be deducted from the company’s income. It should immediately be noted which capitals we're talking about: attracted, own or about capital in general is unclear. Further, based on the ideas of H. von Thünen and L. Walras, Naith and Weston introduced the concept of net profit, a kind of remainder of the remainder, from which, in addition to the already mentioned elements, remuneration to the company's management and risk premiums were removed.

K. Marx, examining the nature of surplus value, points out that “the surplus value or that part of the total value of a commodity in which the surplus - or unpaid - labor of the worker is embodied, I call profit.” In other words, normal and average profit, according to Marx, is formed in the form of the share of unpaid labor of workers when selling goods at their actual value.

IN modern economy profit is considered from two positions - microeconomic and macroeconomic levels. At the microeconomic level, it is associated with the process of education in existing organizations, and at the macroeconomic level, the place of profit in state income is determined.

For example, from the theoretical studies of V.P. Petrov follows that profit is formed in the process of circulation and circulation of funds in macroeconomics and characterizes the increase (increase) in the real wealth of the state in in monetary terms. It manifests itself in practice in the form of increased wealth for individual entrepreneurs. Therefore, the profit of all enterprises in the aggregate must be equal to the sum of the increase in the wealth of the state. Similarly, profit can be considered in global space.

Considering profit only from the standpoint of defining the economic category and its functions is not enough. For a more complete description of profit, it should be presented both as an effective and as a quantitative indicator: effective - it reflects the efficiency of using available resources, the results of the organization’s activities; quantitative is the difference between the price and cost of goods, between sales volume and cost.

The American economist Samuelson believed that profit is an unconditional income from factors of production, it is a reward for entrepreneurial activity, technical innovations and improvements, for the ability to take risks in conditions of uncertainty, this is a monopoly income and an ethical category.

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