Formation of financial resources at the enterprise. Formation and use of financial resources of enterprises Formation and use of financial resources

INTRODUCTION 1

1 THEORETICAL ASPECTS OF FORMATION AND USE OF FINANCIAL RESOURCES OF ENTERPRISES 5

1.1 Essence financial resources and the sources of their formation in modern conditions 5

1.2 Characteristics of internal and external sources of funds 14

1.3 The role of financial resources in ensuring the reproduction process of the enterprise 22

2 ANALYSIS OF FORMATION AND USE 28

FINANCIAL RESOURCES ON THE EXAMPLE OF METUR LLC 28

2.1 Composition and structure of financial resources of Metur LLC 28

2.2 Analysis of financial stability of Metur LLC 32

2.3 Efficiency of formation and use of financial resources in the organization 39

3 MAIN DIRECTIONS FOR IMPROVING THE FORMATION OF FINANCIAL RESOURCES 45

3.1 Increasing the efficiency of using the enterprise’s financial resources 45

CONCLUSION 53

INTRODUCTION

The main link of the economy in market economic conditions are enterprises that act as economic entities. To carry out economic activities, obtain products, income and savings, they use certain types of resources: material, labor, financial, and cash.

Financial resources are directed to the development of production, maintenance and development of non-production facilities, consumption, and may also remain in reserve. Financial resources used for the development of the production and trade process represent capital in its monetary form.

The availability of sufficient financial resources and their effective use predetermine the good financial position of the enterprise, solvency, financial stability, and liquidity. In this regard, the most important task of enterprises is to find reserves for increasing their own financial resources and their most effective use in order to improve the efficiency of the enterprise as a whole.

The role of an organization's financial resources cannot be overestimated. In fact, these are funds at the disposal of the company, which take different forms in the process of business activity, embodied in fixed assets, inventories, accounts receivable and other assets. And you need to understand that success commercial activities An enterprise depends not only on the demand for the goods it produces, but also on how effectively its financial resources are distributed. The correct balance of assets allows you to avoid “stagnation” of resources in materials, finished products or fixed assets.

Every ruble invested in production should work as efficiently as possible. That is why the organization must be in a constant state of search for that “golden mean” in the balance sheet structure that will allow it to achieve the best results.

Speaking about the financial resources of an organization, we must not forget about the sources of their formation, among which are own and borrowed funds. Their correct ratio also has a certain significance for the financial condition of the enterprise. Excessive dependence on external (borrowed) funds makes the company less stable financially, and vice versa, if the enterprise does not attract financial resources from outside, then this is reason to assume the absence of serious investment projects. That is why the issue of the formation and use of financial resources is relevant.

Business entities are involved in complex processes of financial and economic relations both among themselves and with the state. Enterprise finance is not an independent category. Together they form a complex system of redistribution of financial resources. At the same time, the state, being a participant in financial relations, receives tax payments into its budget, thereby forming a system of public finance. And the well-being of the entire country depends on how efficiently the finances of enterprises are organized. All this also indicates the relevance of the topic of this course work.

Target course work– conducting an analysis of the formation and use of financial resources using the example of the limited liability company (hereinafter LLC) “Metur” and developing recommendations for improving their formation and use.

To achieve this goal, it is necessary to solve the following tasks:

1) Determine the role of financial resources of organizations, their essence, composition and structure;

2) Consider the features of the formation and use of financial resources using the example of a specific enterprise;

3) Make proposals aimed at increasing the level of efficiency in the use of financial resources of Metur LLC.

The object of the study is the commercial enterprise Metur LLC.

The subject of the study is the process of formation and use of financial resources commercial enterprise(using the example of Metur LLC).

When writing the course work, such techniques and methods were used as horizontal analysis, vertical analysis, analysis of coefficients (relative indicators), comparative analysis.

The problem of the formation and use of an organization's financial resources is discussed in some detail in educational and scientific literature.

Among the sources used, one can highlight the works of such authors as N.V. Kolchina, G.V. Shadrina, A.D. Sheremet et al. The work takes into account changes and new approaches to the analysis of economic activity.

The information base for the financial analysis was the enterprise's financial statements for 2008, 2009, namely: balance sheet, profit and loss statement.

The first chapter discusses theoretical issues of analyzing the financial condition of a commercial enterprise. Here concepts such as “finance”, “capital” are defined, characteristics of own and borrowed funds are given, as well as the role of financial resources in ensuring the reproduction process of the enterprise

The second chapter is devoted to the analysis financial condition Metur LLC for two years. Here a small description of the enterprise is given and an assessment is made of the formation and use of financial resources of Metur LLC.

In the third chapter, specific proposals are given aimed at increasing the efficiency of the use of financial resources of the enterprise under study.

1 THEORETICAL ASPECTS OF FORMATION AND USE OF FINANCIAL RESOURCES OF ENTERPRISES

1.1 The essence of financial resources and sources of their formation in modern conditions

Organization is difficult economic system. The main groups of functional processes that cover its activities and are the object of management include production, marketing, finance, human resources, etc. The level of management of functional subsystems has a direct impact on the efficiency of management of the economic system as a whole.

The viability of an organization, the success of its functioning and the stability of development are largely determined by the quality of management of one of its most important functional subsystems - the financial support system. The role of this system intensified with the transition to market relations, as economic entities gained independence in terms of planning and managing resource potential. As a result, financial resources have acquired paramount importance, since this is the only type of resource that can be transformed into any other type (for example, raw materials, fixed capital, etc.) directly and with minimal time.

Speaking about resources, it should be noted that they are the sources of any production. “Resources are the availability of means of labor, objects of labor, money, goods or people for use now or in the future.”

Thus, resources are the main factors of production. Factors of production are a set of those natural, material, social and spiritual forces (resources) that can be used in the process of creating goods, services and other values. In other words, factors of production are those things that have a certain influence on production itself.

Financial resources of the organization- this is the totality of its own cash income in cash and non-cash form and income from outside (attracted and borrowed), accumulated by the organization and intended to fulfill financial obligations, finance current costs and costs associated with the development of production.

It is worth highlighting the concept of “capital” - part of the financial resources invested in production and generating income upon completion of the turnover. In other words, capital– transformed form of financial resources.

The financial resources of an organization, on the one hand, are part of its capital. Capital consists of durable goods created by the economic system for the production of other goods. Another view of capital is related to its monetary form. Capital, when embodied in finances not yet invested, is a sum of money. All these definitions have a common idea, namely, capital is characterized by the ability to generate income.

There are fixed and working capital. Fixed capital is capital materialized in buildings, machines and equipment that functions in the production process for several years. Another type of capital, including raw materials, supplies, and energy resources, is consumed in one production cycle. It is called working capital. Money spent on working capital is fully returned to the entrepreneur after the sale of products. Fixed capital costs cannot be recovered so quickly.

On the other hand, the financial resources included in the financial support system are the basis for the existence of the entire organization, and the formation of an effective financial support system for the organization implies a reasonable combination of all production factors aimed at maximizing profits.

In other words, you can use two units of labor, one unit of natural resources and 4 units of capital and get 10 units of profit, or you can select such a reasonable combination of factors for a specific production that the result will be a profit of 20 units. And this requires an effective financial support system, thanks to which financial flows in the organization will be directed exactly where they are needed in the first place, in labor, capital or natural resources.

The organization's financial support system must meet the following principles:

1) As much autonomy and independence from external sources as possible;

2) Profit maximization;

3) Planning of financial resources;

4) Formation of financial reserves in the organization;

5) Maintaining financial discipline;

6) Ensuring the profitability of the financial and economic activities of the organization.

The state of financial flows becomes the most important factor determining the economic results of an organization. The financial well-being of the business entity as a whole, as well as its owners and employees, depends on how efficiently and expediently financial resources are transformed into fixed and working capital, as well as into means of stimulating personnel. Thus, in modern economic conditions, the formation of an effective financial support system in the organization and its proper management is of paramount importance for the organization.

INTRODUCTION……………………………………………………………… 3

1.1.The essence of finance of organizations……………………………... 6

1.2.Functions of finance of organizations………………………………11

CHAPTER 2. FORMATION OF FINANCIAL RESOURCES

ORGANIZATIONS

2.1.Principles of organizing finances of organizations………………. 15

2.2.Sources of formation of financial resources…………….. 20

2.3. Problems of formation of financial resources……………... 25

CHAPTER 3. FINANCIAL RESOURCES OF ORGANIZATIONS AND THEIR

USE……………………………………………………………… 31

CONCLUSION……………………………………………………….. 36

LIST OF REFERENCES………………….. 40

INTRODUCTION

Finance, being an integral element economic mechanism management of organizations, serve as the basis for the education necessary for normal economic activity various funds Money: authorized capital and reserve fund, accumulation and consumption funds, wage fund, depreciation and repair funds, commercial risk fund, etc.

Financial resources are economic basis for organization trading activities on the principles of self-financing. The scale and pace of development of trade turnover and all economic activities depend, first of all, on the availability of financial resources. On the other hand, the growth of trade turnover and the successful implementation of business plans provide an increase in financial resources and strengthening of the financial position trade organizations due to increased profits from business activities.

In the context of the development of market relations and the functioning of the financial market, it is required to new approach to financial resource management. The procedure for the formation and use of financial resources, as well as the relationship of organizations with the financial and credit systems, are changing.

The financial resources of an organization are the totality of its own cash income and receipts from outside, intended to fulfill the financial obligations of the organization, finance current costs and costs associated with the development of production.

The financial resources of the organization are used to create funds intended purpose(wage fund, production development fund, material incentive fund, etc.), fulfillment of obligations to the state budget, banks, suppliers, insurance authorities and other organizations. Financial resources are also used to finance the costs of purchasing raw materials, supplies, and labor. Capital is part of the organization’s finances invested in production and generating income upon completion of turnover. In other words, capital acts as a transformed form of financial resources.

The finances of organizations have a single holistic orientation, but in each specific case they reflect industry characteristics, expressed in the specifics of capital turnover, servicing reproduction processes, emission and investment activities.

The availability of sufficient financial resources and their effective use predetermine the good financial position of the organization, solvency, financial stability, and liquidity. In this regard, the most important task of organizations is to find reserves for increasing their own financial resources and their most effective use in order to improve the efficiency of the organization as a whole.

The role of finance of organizations in ensuring the normal state of the economy and social life of the country is also important, since due to its specific feature they carry out the process of distribution and redistribution of national income and national wealth at three main levels: at the national level; at the organizational level; at the level of production teams.

Effective formation and use of financial resources ensures the financial stability of organizations and prevents their bankruptcy. In market conditions, the state of finances of organizations is of interest to direct participants in the economic process.

The purpose of the course work is to study the sources and principles of formation of an organization’s financial resources, as well as to identify problems of their formation and use.

To achieve this goal, it is necessary to solve the following tasks:

Consider the essence of the organization’s finances;

Determine the functions of the organization’s finances;

Consider the principles of organizing the organization’s finances;

Identify sources of financial resources;

Identify the problems of forming the organization’s financial resources;

Consider the financial resources of organizations and their use.

To solve the assigned problems, materials from the following authors were taken: when considering the essence of an organization’s finances, materials from the works of Buryakovsky V.V. “Enterprise Finance”, Kovaleva A.M., “Finance”, an online magazine for economists, brokers, financiers - Soldi- news.ru; when considering the principles - the work of Buryakovsky V.V. “Enterprise Finance” and Kovalev V.V. . « Finance of organizations (enterprises)"; when identifying the sources of formation of financial resources, materials from the Internet magazine for economists, brokers, financiers were used - Soldi-news.ru, Yarkina T.V., “Fundamentals of Economics of an Organization”, Polyak G.B., “Financial Management”; when determining the problem of forming financial resources of organizations, an article from the magazine “Consultant” No. 19 was considered; also used materials by Pavlova L.N. “Finance of Organizations”, Kolchina N.V. “Finance of Organizations”, Kovaleva, A.M. “Company Finance”, Kremenukova S.V. “Financial resources of the organization”, Vakhrina P. I. “Finance”.

Thus, the work contains three chapters in which general concepts finances of organizations, their formation and use.

CHAPTER 1. GENERAL CONCEPTS OF ORGANIZATIONAL FINANCE

1.1.The essence of finance of organizations

The finances of organizations are economic, monetary relations arising as a result of the movement of money and the cash flows generated on this basis, associated with the functioning of the monetary funds created in organizations.

The finances of organizations are the basis of the state's financial system, since organizations represent the main link of the national economic complex. The state of the organization’s finances influences the provision of national and regional monetary funds with financial resources. The dependence here is direct: the stronger and more stable the financial position of organizations, the more secure the national and regional monetary funds are, the more fully satisfied social and cultural needs, etc.

Organizational finances are the most important component unified system of state finances. This is predetermined, first of all, by the fact that they serve the sphere of material production, in which gross domestic product, national income and national wealth. By its essence, the finances of organizations are a specific part of the financial system. Their difference from public finance due to functioning in different spheres of social production.

The presence of finances of organizations is due to the existence of commodity-money relations and the operation of the laws of value and supply and demand. Sales of products and services are carried out through purchase and sale for money at prices reflecting the cost of the goods. But money itself is not finance. This is a special commodity through which the value of all other goods is determined and expressed and their circulation occurs. Finance is an economic relationship carried out through the circulation of money, that is, monetary relations.

One of the most successful definitions of financial resources is the following: the financial resources of an organization are cash income and receipts at the disposal of a business entity and intended to fulfill financial obligations, carry out expenses for expanded reproduction and economic stimulation of workers.

Organizational finance is characterized by the same features as the category of finance in general. At the same time, they have characteristics determined by their functioning in the sphere of material production, where all spheres of the reproduction process are organically connected: production, distribution, exchange and consumption.

Since the finances of organizations are directly related to production and reflect the patterns of economic development, they are a category included in the economic basis.

To ensure the reproduction process with the help of finance, special-purpose monetary funds are formed in organizations in all sectors of the national economy, used for production needs and to meet the social and personal needs of workers.

Thus, the finances of organizations represent a set of economic, monetary relations that arise in the process of production, distribution and use of the total social product, national income, national wealth and are associated with the formation, distribution and use of gross income, cash savings and financial resources of organizations. These relationships, which determine the essence of this category, are mediated in monetary form.

Financial relations that determine the content of this category usually include monetary relations that arise in the process of expanded reproduction (Fig. 1), namely:

Between organizations and other business entities;

Between organizations and budget system;

Between organizations and the financial and credit system;

Within various associations of organizations;

Finances of organizations (economic, monetary relations)
between organizations and other business entities	between organizations and the budget system	between organizations and the financial and credit system	within various associations of organizations	within the organization
- with suppliers; - with buyers; - with construction, transport and other organizations; - with foreign organizations and firms.	- with budgets of different levels; - with state centralized funds; - with extra-budgetary funds.	- with banks; - with insurance organizations; - with the stock market; - with investment funds.	- with a higher organization; - within an association; - within financial and industrial groups.	- with employees of the organization; - between branches, workshops, departments; - with shareholders; - with investors; - with founders.

Within the organization.

INTRODUCTION ……………………………………………………………… 3

1.1.The essence of finance of organizations……………………………... 6

1.2.Functions of finance of organizations………………………………11

ORGANIZATIONS

2.1.Principles of organizing finances of organizations………………. 15

2.2.Sources of formation of financial resources…………….. 20

2.3. Problems of formation of financial resources……………... 25

USE……………………………………………………………… 31

CONCLUSION……………………………………………………….. 36

LIST OF REFERENCES………………….. 40

INTRODUCTION

Finance, being an integral element of the economic mechanism for managing organizations, serves as the basis for the formation of various funds of funds necessary for normal economic activity: authorized capital and reserve fund, accumulation and consumption funds, wage fund, depreciation and repair funds, commercial risk fund, etc.

Financial resources are the economic basis for organizing trading activities on the principles of self-financing. The scale and pace of development of trade turnover and all economic activities depend, first of all, on the availability of financial resources. On the other hand, the growth of trade turnover and the successful implementation of business plans ensure an increase in financial resources and strengthening of the financial position of trading organizations due to increased profits from business activities.

In the context of the development of market relations and the functioning of the financial market, a qualitatively new approach to the management of financial resources is required. The procedure for the formation and use of financial resources, as well as the relationship of organizations with the financial and credit systems, are changing.

The organization's financial resources are used to create funds for special purposes (wage fund, production development fund, material incentive fund, etc.), fulfill obligations to the state budget, banks, suppliers, insurance authorities and other organizations. Financial resources are also used to finance the costs of purchasing raw materials, supplies, and labor. Capital is part of the organization’s finances invested in production and generating income upon completion of turnover. In other words, capital acts as a transformed form of financial resources.

The role of finance of organizations is also important in ensuring the normal state of the economy and social life of the country, since due to their specific features they carry out the process of distribution and redistribution of national income and national wealth at three main levels: at the national level; at the organizational level; at the level of production teams.

The purpose of the course work is to study the sources and principles of formation of an organization’s financial resources, as well as to identify problems of their formation and use.

To achieve this goal, it is necessary to solve the following tasks:

Consider the essence of the organization’s finances;

Determine the functions of the organization’s finances;

Consider the principles of organizing the organization’s finances;

Identify sources of financial resources;

Identify the problems of forming the organization’s financial resources;

Consider the financial resources of organizations and their use.

Thus, the work contains three chapters that discuss the general concepts of organizational finance, their formation and use.

CHAPTER 1. GENERAL CONCEPTS OF ORGANIZATIONAL FINANCE

1.1.The essence of finance of organizations

Since the finances of organizations are directly related to production and reflect the patterns of economic development, they are a category included in the economic basis.

Financial relations that determine the content of this category usually include monetary relations that arise in the process of expanded reproduction (Fig. 1), namely:

Between organizations and other business entities;

Between organizations and the budget system;

Between organizations and the financial and credit system;

Within various associations of organizations;

Finances of organizations (economic, monetary relations)

between organizations and other business entities

between organizations and the budget system

between organizations and the financial and credit system

within various associations of organizations

within the organization

With suppliers;

With buyers;

With construction, transport and other organizations;

With foreign organizations and companies.

With budgets of different levels;

With state centralized funds;

With extra-budgetary funds.

With banks;

With insurance organizations;

With the stock market;

With investment funds.

With a higher organization;

Within the union;

Within financial and industrial groups.

With employees of the organization;

Between branches, workshops, departments;

With shareholders;

With investors;

With the founders.

Within the organization.

Financial relations with other organizations include relations with suppliers, buyers, construction, installation and transport organizations, post and telegraph, foreign trade and other organizations, customs, organizations and firms of foreign countries.

The relations of organizations with the financial and credit system are, firstly, the financial relations of organizations with banks, which are built both in terms of organizing non-cash payments and in relation to the receipt and repayment of short-term and long-term loans and interest on them. The organization of non-cash payments has a direct impact on the financial position of organizations. Credit is a source of formation working capital, expanding production, its rhythm, improving product quality, helps eliminate temporary financial difficulties of organizations.

Financial relations of organizations with parent organizations include relations regarding the formation and use of centralized funds, which in conditions of market relations are an objective necessity. This is especially true for financing investments, replenishing working capital, financing import operations, scientific research, including marketing ones. Intra-industry redistribution of funds, as a rule, on a repayable basis, plays an important role and contributes to the optimization of organizations’ funds.

Financial relations within an organization include relations between branches, workshops, departments, teams, etc., relations with workers and employees, as well as with shareholders and investors of the organization. Relations between divisions of the organization are related to payment for work and services, distribution of profits, working capital, etc. Their role is to establish certain incentives and financial responsibility for the high-quality fulfillment of accepted obligations. Relations with workers and employees are the payment of wages, bonuses, benefits, financial assistance, as well as collection of fines for damage caused and tax withholding. Shareholder and investor relations are the payment of interest and dividends on shares or investments in an organization.

Thus, the role of financial organizations is as follows:

1. By distributing and redistributing national income and national wealth at the national level, the finances of organizations ensure the formation of the country’s financial resources used to form the budget and extra-budgetary public funds.

2. During the distribution and redistribution of national income and national wealth at the organizational level, they provide the sphere of material production with the necessary financial resources and funds for the continuous process of expanded reproduction.

3. At the level of production teams, with the help of finance, monetary funds such as wage and material incentive funds are formed, and programs are implemented social development teams of organizations.

4. The role of finance of organizations is important in ensuring balance in the national economy between material and monetary funds intended for the purposes of consumption and accumulation. The stability of the national monetary unit, monetary circulation, and the state of payment and settlement discipline in the national economy largely depend on the degree to which such balance is ensured.

5. The direct connection of the finances of organizations and the finances of sectors of the national economy with all phases of the reproduction process determines their high potential activity and wide possibility of influencing all aspects of the economy. Therefore, the finances of organizations can serve important tool economic stimulation, control over the country's economy and its management.

6. Institutional finance can be an important tool. government regulation economy. With their help, the reproduction of the manufactured product is regulated and the needs of expanded reproduction are financed based on the optimal balance between funds allocated for consumption and accumulation. Organizational finances can be used to regulate sectoral proportions in a market economy, help accelerate the development of individual sectors of the economy, create new industries and modern technologies, accelerating scientific and technological progress.

1.2. Functions of finance of organizations

Organizational finance performs the same functions as public finance, distribution and control. However, the range of activities of financial organizations is much wider than the range of activities of public finance. Public finances carry out functions mainly at the stage of secondary distribution of national income in the process of formation and execution of the state budget, local budgets, and other centralized funds of the state, while the finances of organizations carry out their activities both at the stage of formation of national income and at the stage of primary and secondary distribution and redistribution thereof. Therefore, that part of finance that functions in the sphere of material production, namely, the finances of organizations, and participates in the process of creating cash income and savings, performs not only distribution and control, but also the function of generating cash income.

In the process of formation and use of the depreciation fund, mobilization of internal resources in capital construction, with the help of financial organizations, the redistribution of national wealth is carried out.

Thus, the distributive function of finance of organizations should be understood as the implementation of their activities in the process of distributing gross domestic product, national income and national wealth.

With the help of finance, the state distributes the gross product not only in physical form, but also in value. In this regard, it becomes possible necessary control for ensuring cost and natural-material proportions in the process of expanded reproduction.

The control function of the finances of organizations should be understood as their inherent ability to objectively reflect and thereby control the state of the economy of the organization, industry, and the entire national economy and actively influence their activities. The finances of organizations through their financial categories (profit, profitability, etc.) implement their inherent control function. Thus, the amount of profit and the level of profitability of production determine the degree of effectiveness of economic activity of this subject. The presence of non-operating losses and losses indicates mismanagement in the operation of the organization. The control function contributes to the choice of the most rational mode of production and distribution of gross product and national income in the organization and in the national economy.

The assignment of financial resources in the organization is a means of ensuring production activities organizations, factors of production or source of the reproduction process. This provision is based on the fact that the main goal of the organization is the production of material goods to satisfy social needs. Therefore, the main function of financial resources that realizes their purpose in organizations is production. It is advisable to optimally provide financial resources for all stages of the reproduction process, and here we're talking about about all kinds of financial resources. It is through financial resources that the organization generates property, renews fixed assets, and replenishes working capital. The priority of this function is due to the fact that the flow of its own financial resources, which are the basis of its activities, and, therefore, the pace of economic development of the business entity and the social well-being of workers largely depends on the efficiency and continuity of the organization’s production activities.

An integral part of the production function of an organization's financial resources is the operational function, which consists in the current provision of organizations with funds for normal functioning, for making payments and settlements, and fulfilling short-term obligations. The operational function does not have a significant impact on the long-term development strategy of the organization, so it is limited financial support simple reproduction.

Not all financial resources serve the production sector of the organization, since the organization has certain obligations to the financial and credit system and employees. Therefore, part of the resources is diverted into the non-productive sphere of the organization and performs a non-productive function: reserve capital, accumulation fund, consumption fund and other funds. The emergence of this function is due to the organization’s obligations and the need to expand its activities. The role of this function is important, since its production activities depend on how timely and fully the organization’s obligations are fulfilled.

The development of market relations has led to the fact that today any business entity is interested in the profitable use of available resources. Therefore, part of the financial resources serving the non-productive sphere of the organization is directed to expanded reproduction, that is, they perform an investment function, which is realized through profitable short-term and long-term financial investments.

Innovation activities, as well as venture financing, are closely related to the process of profitable use of available financial resources. Innovation activities include the constant progressive development of organizations based on the latest forms management and financing, organization of financial relationships. Venture financing provides financial resources innovative activity. It includes financing of scientific and technical developments and inventions. Such financing requires significant capital accumulation and the choice of a long-term development strategy. It is based on variability in decision making and discounting cash receipts. Venture capital management must be strictly goal oriented.

To ensure liquidity, part of the organization's financial resources must be kept in cash or in funds and reserves that do not generate income. This part of the resources performs a consumption function. This function, unlike the investment function, does not create surplus value.

Thus, it is important to optimally maintain the ratio of resources located in the production and non-production spheres, generating income or being consumed. This will ensure continuity of the production and execution process production program, fully fulfill external and internal obligations, not forgetting about liquidity and profitable use of available resources. The more resources are involved in profitable turnover, the more effective all production and economic activities of the organization are.

CHAPTER 2. FORMATION OF FINANCIAL RESOURCES

ORGANIZATIONS

2.1.Principles of organizing finances of organizations

Since the finances of organizations as relationships are part of the economic relations that arise in the process of economic activity, the principles of their organization are determined by the fundamentals of the organization’s economic activities.

The basis for organizing the finances of organizations of all forms of ownership is the availability of financial resources in the amounts necessary to carry out the economic and commercial activities of the organization.

The initial formation of these resources occurs during the creation of the organization through the formation of the authorized capital. The sources of formation of the authorized capital can be: share capital, share contributions, the entrepreneur’s own funds, long-term loan, budget funds, etc.

In the context of the transition to a market economy, organizations operate on the basis of full commercial calculation and self-financing, aimed at obtaining sufficient profits.

Commercial calculation means the economic independence of the organization and responsibility for the results of its work.

Thus, the implementation of the financial activities of the organization is based on the implementation of the following basic principles:

self-financing;

Availability of target funds of funds in the organization.

Self-financing - required condition successful economic activities of organizations in a market economy. This principle is based on the full recovery of costs for the production of products and the expansion of the production and technical base of the organization.

Basic principles of organizing finances of organizations.

The principle of self-financing means a method of economic and investment activity in which all costs associated with mandatory payments to the budget and other centralized funds, as well as costs of expanded reproduction, are fully covered by profits and other own sources.

The economic activities of an organization are inextricably linked with its financial activities. The organization independently finances all areas of its expenses in accordance with production plans, manages available financial resources, investing them in the production of products in order to make a profit.

The distinction between funds from core activities and investment activities means that working capital and other assets assigned to core activities cannot be used by the organization for the needs of capital construction, and vice versa.

It is important to divide the sources of financing of working capital into own and borrowed ones. Own funds include funds assigned to the organization for perpetual use. Borrowed funds are basically bank loans that are provided to an organization for a relatively short period of time for a specific purpose at interest. The combination of own and borrowed funds allows the organization to use working capital more rationally. Complete safety of working capital is a necessary condition for the continuity of their turnover. The organization is obliged to ensure the safety, rational use and acceleration of turnover of working capital.

The need to control the financial and economic activities of an organization objectively follows from the essence of finance as monetary relations. The financial and economic activities of an organization are associated with the formation and expenditure of funds, and therefore affect the interests of the state, employees of the organization, shareholders and all possible counterparties of the organization. Control is manifested through the analysis of the financial performance of the organization and measures of influence of various contents.

For normal functioning, each organization must have certain target funds of funds. The most important of them are: a fixed asset fund, a working capital fund, a financial reserve, a depreciation fund, a repair fund, a fund for the development of production, science and technology, a material incentive fund, a social development fund, etc. The formation of these funds, their management and their proper use constitute one of the most important aspects of financial work in organizations.

Also distinguished:

The principle of economic efficiency. Its semantic load is determined by the fact that since the creation and operation of a certain financial management system of an organization inevitably involves costs, this system must be economically feasible in the sense that direct costs are justified by direct or indirect income. Since it is not always possible to give unambiguous quantitative assessments that argue or confirm this feasibility, optimization of the organizational structure is carried out on the basis of expert assessments in dynamics - in other words, it is formed gradually and is always subjective.

The principle of financial control. The activities of the organization as a whole, its divisions and individual employees must be periodically monitored. Control systems can be built in different ways, but practice shows that financial control is the most effective and efficient. In particular, one of the most important ways to monitor the congruence of the goals of the company's owners and its management personnel is to conduct audits. Auditing activity represents the entrepreneurial activity of auditors (audit firms) to carry out independent non-departmental audits of accounting (financial) statements, payment and settlement documentation, tax returns and other financial obligations and requirements of economic entities, as well as the provision of other audit services (accounting, valuation, tax planning, corporate financial management, etc.). Internal financial control is carried out by organizing an internal audit system.

Large companies always have an internal audit service; Moreover, in economically developed countries, so-called institutes of internal auditors have been created. As an example, we can mention the American Institute of Internal Auditors ( The Institute of Internal Auditors ), whose members are its graduates - certified specialists in internal financial analysis and control.

The principle of financial incentives (reward/punishment). This principle essentially corresponds closely with the previous one, and its meaning lies in the fact that it is within the framework of the financial management system that a mechanism is developed to increase the efficiency of individual departments and the organizational structure of the management of the organization as a whole. Naturally, it comes to financial measures. This principle is most effectively implemented by organizing so-called responsibility centers.

Under responsibility center is understood as a division of an economic entity, the management of which is endowed with certain resources and powers sufficient to fulfill the established plan targets. Wherein:

Senior management determines one or more basic (system-forming) criteria and sets their planned values;

Judgment about the effectiveness of the responsibility center is made on the basis of the implementation of planned tasks according to system-forming criteria;

The management of the unit is allocated resources in agreed amounts sufficient to fulfill planned targets;

Resource limitations are quite general character, i.e., the management of the responsibility center has complete freedom of action in relation to the structure of resources, the organization of the production and technological process, supply and distribution systems, etc.

The point of identifying responsibility centers is to encourage initiative among middle managers, increase the efficiency of departments, obtain relative savings production and distribution costs.

The principle of financial responsibility. Any organization develops a system of incentive measures and criteria for evaluating the activities of structural units and individual employees. Composite element Such a system is the idea of material responsibility, the essence of which is that individuals those related to the management of material assets are liable in rubles for unjustified results

of its activities. Forms of organization of financial responsibility can be different, but there are two main ones: individual and collective material liability.

Individual financial responsibility means that a specific financially responsible person (storekeeper, head of a department, salesperson, cashier, etc.) enters into an agreement with the management of the organization, according to which any shortage of inventory items, i.e. their disposal, not accompanied by supporting documents , must be reimbursed by that person. In some situations, standards are established within which accounting estimates may deviate from actual ones; in this case, the financially responsible person must compensate only for excess losses (in particular, in trade, at the expense of pre-tax profits, reserves are made for the forgetfulness of buyers, for the shrinkage and destruction of goods, etc.). The list of financially responsible persons is determined by the organization.

In the case of collective material liability, it is no longer a specific financially responsible person who is responsible for possible shortages, but a team (for example, a team of salespeople replacing each other in a store department when the work shift is less than the total working day of the store as a whole). This form of accountability helps to avoid unnecessary frequent inventory counts.

2.2.Sources of formation of financial resources

The formation of financial resources is carried out at the expense of own and equivalent funds, the mobilization of resources in the financial market and the receipt of funds from the financial banking system in the order of redistribution. The initial formation of financial resources occurs at the time of establishment of the organization, when the authorized capital is formed. Its sources, depending on the organizational and legal forms of management, are: equity (authorized) capital, share contributions of members of cooperatives, industry financial resources (while maintaining industry structures), long-term credit, budget funds. The size of the authorized capital shows the size of those funds - fixed and working capital - that are invested in the production process.

The main source of financial resources in operating organizations is cost products sold(services provided), the various parts of which, in the process of revenue distribution, take the form of cash income and savings. Financial resources are formed mainly from profits (from core and other activities) and depreciation charges. Along with them, sources of financial resources also include:

Stable liabilities

Mobilization of internal resources in construction, etc. The processes of privatization of state property that are unfolding everywhere lead to the appearance and will play an important role of another source of financial resources - shares and other contributions of members of the labor collective. Significant financial resources, especially for newly created and reconstructed organizations, can be mobilized in the financial market. The forms of their mobilization are: sale of shares, bonds and other types of securities issued by this organization, credit investments. Before the transition to market economic conditions, organizations received significant financial resources on the basis of intra-industry redistribution of funds and budget financing. However, the principles of market management and the introduction of commercial principles into the activities of organizations naturally required fundamentally different approaches to the formation of financial resources.

Orientation towards initiative and entrepreneurship, full financial responsibility determined two major changes in the field of financial relations of organizations with other structures: firstly, the development of insurance operations, and, secondly, a significant reduction in the scope of grants received free of charge. In this regard, when switching to market fundamentals In the management of financial resources formed in the order of redistribution, insurance compensation payments received from insurance companies will gradually play an increasingly greater role, and budget and industry financial sources will gradually play a lesser role.

Organizations will be able to receive financial resources: from associations and concerns of which they belong (only if this is provided for by the mechanism for using the corresponding monetary funds); from higher organizations - while maintaining industry structures; from the authorities government controlled- in the form of budget subsidies for a strictly limited list of costs. But in the conditions of functioning of the securities market, such types of financial resources will appear as dividends and interest on securities of other issuers, as well as profit from financial transactions.

The use of financial resources is carried out by the organization in many areas, the main of which are: - payments to the authorities of the financial and banking system, conditioned by the fulfillment of financial obligations. These include; tax payments to the budget, payment of interest to banks for using loans, repayment of previously taken loans, insurance payments, etc.; - investing own funds in capital costs (reinvestment) associated with the expansion of production and its technical renewal, transition.

The composition of the organization's financial resources is shown in Table 1.

Table 1. Sources of financial resources of the organization

So, financial resources are generated from own and borrowed funds.

The starting source of financial resources at the time of establishment of an organization is the authorized (share) capital - property created from the contributions of the founders (or proceeds from the sale of shares).

In some cases, an organization may be provided with subsidies (in cash or in kind) from state or local budgets, as well as special funds. There are:

Direct subsidies - government capital investments in objects that are especially important for the national economy, or in low-profit, but vitally necessary;

Indirect subsidies implemented through fiscal and monetary policy, e.g. tax benefits and soft loans.

The totality of an organization’s financial assets is usually divided into working capital and investments.

2.3.Problems of generating financial resources

On at this stage there are two most actual problems formation of financial resources, these are high interest rates on attracting loans and borrowings and the ratio of borrowed capital and equity.

What should be the final ratio of own and borrowed funds, this question, despite all the efforts of theorists of financial science, still does not have a final clear answer.

The question of the financing structure can be considered from the point of view of business risk. Business risk can be assessed in terms of an asset (production risk) or a liability (financial risk). Risk is measured quantitatively by the so-called leverage, or leverage. This is an indicator that takes into account the sensitivity of profits to fluctuations in income ( production leverage) or interest payments (financial leverage). The theory does not provide a single indicator that could reflect both types of risk collectively. However, it is believed that high financial risk should not be combined with high production risk.

The easiest way to assess production leverage is by share fixed costs V total amount expenses of the organization. The higher it is, the higher the production risk. Of course, revenue may experience such strong seasonal fluctuations that during a recession, income is lower than even fixed expenses. In this case, it is necessary to form an appropriate fund that would counter such an adverse impact. This requirement is usually met by those firms that are accustomed to regular sales declines. What companies is it typical for? high level fixed costs?

To do this, you need to consider the classification of organizations according to the criterion the most important factor production, by business type:

Fund-intensive. For him, the main factor is non-current assets: land, buildings and structures, equipment. These are large metallurgical and shipbuilding plants, agricultural production, transport, and construction. The main share of expenses of organizations in these industries falls on funds: depreciation plus expenses for maintaining their technical condition. And almost all of these expenses are permanent. These include organizations in the sphere of material production.

Material-intensive. This business depends on purchased raw materials, materials and components. As a rule, this is trade, both wholesale and retail. The main share of costs in these industries falls on raw materials, materials and components. Therefore, the financial result turns out to be sensitive to extremely weak fluctuations in the trading margin.

Labour intensive. The main factor of this business is personnel, and the main expense is wages. This includes a significant part of the service sector: consulting, education, partly healthcare. Here, production risk is primarily due to the payment of wages. The company's management can theoretically tie it to performance results, but risks losing employees. The level of fixed costs here is lower than in capital-intensive industries, and there is more room for maneuver. However, the production risk is still quite high.

There are also industries whose organizations either do not have a distinct type or may belong to different types depending on the circumstances. For example, catering. In an inexpensive cafe, the shares of expenses for funds, raw materials and wages can be approximately equal. At the same time, a fashionable restaurant will almost certainly turn out to be a capital-intensive organization, and a factory canteen will be a material-intensive organization.

To assess financial risk, there is also an indicator - the strength of financial leverage. It is equal to the ratio of the sum of book profit and interest payments to book profit. The greater the impact, the higher the financial risk: to earn one ruble of profit, you need to receive one ruble of revenue and some more. Moreover, this additional amount is greater, the larger the external financing used and the higher the interest on it. In some cases, situations are possible when the interest paid is several times greater than the final profit.

To prevent high production risk from being combined with high financial risk, capital-intensive and (sometimes) labor-intensive organizations should be financed primarily with their own capital. Only a material-intensive business has a chance to develop using primarily external financing - no matter long-term bank or trade credit from suppliers.

In Table 1, combinations that are desirable from a business risk perspective are highlighted by shading. Thus, creating a capital-intensive business while actively attracting external financing is too risky, and a material-intensive business using your own funds is irrational. However, capital-intensive businesses are often organized with external investors in mind. And this is logical: like no other, it needs massive investments. However, for a capital-intensive business it is very difficult to find available funds at the disposal of one investor. There is a contradiction: it is necessary to attract external financing from the standpoint of creating a business, but it is undesirable from the standpoint of riskiness.

The most natural way to overcome this contradiction is to introduce a time gap. A business attracts external financing at the creation stage and weakens its influence at the development stage. Of course, these stages may intersperse, and this is typical for a growing business, but general principle remains.

The key issue here is the company's ability to provide such a net cash flow (NCF) from its core activities that would guarantee timely repayment of the loan and interest on it. But previous experience or forecast may indicate that revenues will be uneven. In this case, the company is obliged to form a “buffer fund” in advance in the amount of bank payments for several months. As a last resort, obtain the bank’s consent to grant a deferment. Otherwise, you should abandon the business.

Thus, the main document when making decisions about large investments of funds is not the projected profit and loss statement, but the cash flow forecast. At this stage, it is necessary to pay attention to the credit policy of the organization.

Any economist who has drawn up business plans knows that rarely does a business turn out to be more successful than it was imagined in plans. The causes of net cash flow problems can be divided into two groups:

Implementation problems;

Problems of credit policy.

Debt collection is a very important but unpleasant job, so company managers often involuntarily ignore it. In most cases, when cash flow problems arise, managers direct their efforts to increasing sales of products or services. And the exact opposite result is achieved: the more sales in conditions of weak collection, the worse the net cash flow. Managers Russian organizations We have now realized that accounts receivable is not a problem that we have to live with - it must be continuously solved.

The article proposes rules for combining production and financial risk with the level of profit and the quality of credit policy (Table 2). This information is reflected, respectively, in the company's balance sheet, income statement and cash flow budget.

Therefore, it is advisable for organizations to use own sources financing. In the case of using external sources of financing, it is necessary to develop and strictly observe a credit policy, while the price of the product must include a sufficiently high percentage of planned savings.

CHAPTER 3. FINANCIAL RESOURCES OF ORGANIZATIONS AND THEIR

USAGE

The finances of organizations represent a set of economic relations that arise in real money circulation regarding the formation, distribution and use of financial resources.

Cash turnover, being isolated, in whole or in part, forms the material basis of the finances of organizations. Real money turnover is an economic process that causes the movement of value and is accompanied by a flow of cash payments and settlements.

The object of real money turnover is financial resources - its own sources of financing for expanded reproduction, which remain at the disposal of the organization after fulfilling current obligations for payments and settlements.

Financial resources of organizations are a form of financing and lending to entrepreneurial activities. Their functioning is aimed at achieving the common goals of effective development of organizations. Micro-level finances are subject to regulation by state and municipal legislative and executive authorities and management. The main subject of making the most important financial decisions is the owner. The main person who implements these decisions and solves tactical problems is the organization’s financier.

The main elements of the organization's financial resources are: authorized capital, depreciation fund, special purpose funds, unused profits, accounts payable of all types, resources received from centralized and decentralized funds and others.

In modern conditions the problem effective use financial resources is highly relevant; since the constant shortage of both centralized and decentralized financial resources leads to disruptions in the normal functioning of organizations, industries and the national economy as a whole.

The concept of effective use of financial resources, like any other types of resources (material, labor, natural), includes a comparison of the quantity and quality of resources expended with the quantitative and qualitative expression of the results achieved.

The efficient use of financial resources is directly related to the effective use of material, labor and other types of resources. Thus, reducing the material intensity of products, that is, production more production without increasing the volume of raw materials used for this leads to savings in financial resources. Reducing the cost of human labor per unit of production means increasing the efficiency of use labor resources, which also leads to saving financial resources through an increase in cash savings and a reduction in the organization’s need for additional funds.

Also, the effectiveness of the use of financial resources can be assessed by comparing the achieved performance results (for example, profit) with the amount of financial resources that were at the disposal of the organization for the corresponding period.

However, the result of economic activity does not always depend only on the effective use of financial resources. Thus, having optimally distributed and used financial resources, the organization may incur losses as a result of a decrease in labor discipline, violations of production technology, excess consumption of materials, raw materials and other reasons. Therefore, in order to consider in more detail the problem of the effective use of financial resources, it is necessary to assess the effectiveness of the use of all components that form the overall financial resources of the organization.

The organization, taking care of its financial stability and stable place in the market economy, distributes its financial resources by type of activity and over time. The deepening of these processes leads to the complication of financial work and the use of special financial instruments in practice.

Thus, the financial resources of organizations have a clear, target orientation, which leaves an imprint on all aspects of activity, including organizational, commercial, investment, contractual, etc. This is profitable work, rational minimization of costs, optimization of financial flows. The financial resources of organizations affect certain socio-political interests of individual segments of society. However, in all their aspects they are aimed at encouraging entrepreneurial activity.

On the financial results of organizations in January-February 2010.

In January-February 2010, according to operational data, the balanced financial result (profit minus loss) of organizations (excluding small businesses, banks, insurance organizations and budgetary institutions) in current prices amounted to +920.6 billion rubles, or +30.5 billion US dollars (36.3 thousand organizations received a profit in the amount of 1123.2 billion rubles, 22.0 thousand organizations had a loss in the amount 202.6 billion rubles). In January-February 2009 the balanced financial result amounted (for a comparable range of organizations) to +4.1 billion rubles, or 0.1 billion US dollars.

The balanced financial result (profit minus loss) is characterized by the following data:

______________________

1) The rate of change in the balanced financial result of the reporting period compared to the corresponding period of the previous year was calculated for a comparable range of organizations; taking into account the adjustment of data for the corresponding period of the previous year, based on changes in accounting policies, legislative acts, etc. in accordance with the accounting methodology.

A dash means that in one or both comparable periods a negative net financial result was obtained.

Now let’s compare these data with previous years:

This shows that during the crisis a negative balanced financial result was obtained.

CONCLUSION

The finances of organizations are the most important component of the unified financial system of the state. This is determined, first of all, by the fact that they serve the sphere of material production, in which gross domestic product, national income and national wealth are created. By its essence, the finances of organizations are a specific part of the financial system. Their difference from public finance is due to their functioning in different spheres of social production.

The finances of organizations are a set of economic, monetary relations that arise in the process of production, distribution and use of the total social product, national income, national wealth and are associated with the formation, distribution and use of gross income, cash savings and financial resources of organizations. These relationships, which determine the essence of this category, are mediated in monetary form.

The finances of organizations perform the same functions as public finances, distribution and control. However, the range of activities of financial organizations is much wider than the range of activities of public finance. And in addition to these, the finances of organizations perform the following functions:

Production;

Operational;

Non-productive;

Investment;

Consumer.

It is important to optimally maintain the ratio of resources located in the production and non-production spheres, generating income or consumed. This will ensure the continuity of the production process and implementation of the production program, fully fulfill external and internal obligations, without forgetting about liquidity and profitable use of available resources. The more resources are involved in profitable turnover, the more efficient all production and economic activities of the organization are.

The organization’s financial activities are based on the implementation of the following basic principles:

Financial independence;

Interest in the results of financial and economic activities;

self-financing;

Responsibility for the results of financial and economic activities;

Separation of funds from core and investment activities;

Division of the organization's capital into current and non-current;

Division of sources of financing of working capital into own and borrowed;

Monitoring the results of the organization’s activities;

Availability of trust funds for organizations.

Also distinguished:

Principle of economic efficiency;

Principle of financial control;

The principle of financial incentives (reward/punishment);

The principle of financial responsibility.

Financial resources are formed mainly from profits (from core and other activities) and depreciation charges. Along with them, sources of financial resources also include:

Proceeds from the sale of disposed assets,

Stable liabilities

Various targeted revenues (fees for keeping children in preschool institutions etc.),

Mobilization of internal resources in construction, etc.

The main sources of financial resources of an operating organization are income (profit) from core and other types of activities, non-operating operations. It is also formed through stable liabilities, various targeted revenues, shares and other contributions from members of the workforce. Stable liabilities include authorized, reserve and other capital, long-term loans and accounts payable that are constantly in circulation of the organization.

Financial resources can come in the form of redistribution from associations and concerns of which they belong, from higher organizations while maintaining industry structures, from insurance organizations.

In some cases, an organization may be provided with subsidies (in cash or in kind) from state or local budgets, as well as special funds.

To reduce the problems of formation and use of financial resources of an organization, an optimal balance of resources located in the production and non-production spheres, generating income or consumed, is necessary. This will allow, on the one hand, to ensure the continuity of the production process and implementation of the production program, and on the other hand, to fully fulfill external and internal obligations, not forgetting about liquidity and profitable use of available resources. Thus, the more resources participate in profitable turnover, the more effective all production and economic activities of the organization will be, and, consequently, the mechanism for the reproduction of economic growth will be implemented.

Financial resources are used by the organization in the process of production and investment activities. They are in constant motion and are in monetary form only in the form of cash balances in a current account in a commercial bank and in the cash register of an organization.

The financial resources of organizations have a clear, target orientation, which leaves an imprint on all aspects of activity, including organizational, commercial, investment, contractual, etc. This is profitable work, rational minimization of costs, optimization of financial flows. The financial resources of organizations affect certain socio-political interests of individual segments of society. However, in all their aspects they are aimed at encouraging entrepreneurial activity.

LIST OF REFERENCES USED

1. EBook: Buryakovsky V.V. “Enterprise Finance” - textbook. HTML version of the book.

2. soldi-news.ru - Online magazine for economists, brokers,

financiers.

3. Yarkina T.V., “Fundamentals of Enterprise Economics” (Tutorial)

4. Kovaleva A.M., “Finance” - Textbook. Manual – 4th ed. 2005

5. Kovalev V.V. ., « Finance of organizations (enterprises)”: Uche6. - M.: TK Welby, Prospekt Publishing House, 2006.

6. Polyak G.B., “Financial Management”: Textbook for universities - 2nd ed., revised. and additional –M.: UNITY-DANA, 2006.

7. “Risks of financing in theory and practice”, Elena Breslav, Magazine “Consultant” No. 19, 2005

8. Official website of the State Statistics Committee.

9. Vakhrin, P. I. “Finance”: Textbook for universities / P. I. Vakhrin, A. S. Neshitoy - M.: ICC “Marketing”, 2007.

10. Kremenukov, S.V. “Financial resources of the enterprise” / S.V. Kremenukov. – M.: Finance and Statistics, 2005.

11. Kovaleva, A.M. “Company Finance”: Textbook./ A. M. Kovaleva, M. G. Lapusta, L. G. Skamai. - M.: INFRA-M, 2006.

12. Kolchina, N.V. “Finance of Organizations”: Textbook for Universities / Ed. prof. N.V. Kolchina. - 2nd ed., revised. and additional - M.: UNITY-DANA, 2005.

13. Pavlova, L. N. “Finance of organizations”: Textbook for universities. / L. N. Pavlova - M.: UNITI, 2006.

1. FORMATION AND USE OF THE FINANCIAL RESOURCES OF THE ORGANIZATION

1.1 The essence and functions of the organization’s financial resources

One of the most important financial categories is financial resources. Financial resources are generated by business entities for the purpose of carrying out production activities.

Stabilization not only at the enterprise level (micro level), but also at the state level (macro level) largely depends on the rationality of their formation and use. The effective work of commodity producers is the key to the financial strength and independence of any state.

Financial resources of enterprises are income, savings, receipts generated at the enterprise and intended for the purposes of simple and expanded reproduction. Any enterprise in a market economy inevitably faces the problem of rational formation and use of financial resources. By the formation of financial resources we understand the process of formation and mobilization of financial resources in an enterprise. The use of financial resources is, first of all, the use of financial resources for the purpose of carrying out the production activities of the enterprise.

The degree of independence of an enterprise in this area depends primarily on the degree of centralization, authoritarianism of the economy and the mission of this organization in external environment. Of course, these determining factors do not limit the list of factors influencing the activities of the enterprise in the formation and use of financial resources. There are also obligations to partners, consumers, and other subjects of market relations; the chosen strategy of the company and the internal environment of the organization leave their mark. Thus, the process of formation and use of financial resources at an economic entity is influenced by many known and taken into account factors of the external and internal environment, as well as factors of uncertainty (risk). It is worth noting that in a planned economy the process of formation and use of financial resources is of a different nature, and can only be considered in the context and framework of strict planning and determination. In a market economy, this concept acquires a full depth of meaning, which allows the essence of financial resources to be revealed most fully.

In fact, the formation and use of financial resources are two interrelated processes that characterize and reveal the essence of the mechanism for the movement of financial resources in an enterprise.

Formation is the initial phase in the movement of financial resources; it is here that the sources of funds, forms of receipt and proportions of their combination are determined. As a rule, at this stage, financial resources are in value form, which is favorable for their control and planning.

Formation determines and predetermines the further movement of financial resources in the form of their use. At this stage of the circulation, it becomes possible to launch the production process directly at the enterprise. Here, the financial resources of an economic entity are materialized into fixed and working capital.

In production assets, financial resources are in a hidden form, since their valuation is no longer decisive, but the indicators of the enterprise’s production activities acquire unconditional importance. In such a material form, financial resources are located until the moment of sale of manufactured products on the market, when it becomes possible to value expression and determining the effectiveness of their use.

Thus, the process of using financial resources is associated with the implementation of planned plans and characterizes a progressive movement towards a different quality level. Of course, in the division between formation and use there is a considerable amount of convention, because these two processes mutually determine and complement each other, and each of them already has determinism regarding the future situation, be it the formation or use of financial resources.

In addition, formation can conditionally be called a process with a “plus” sign, because it involves the consolidation of financial resources.

Use is a “minus” because it assumes consumption, waste, temporary “decentralization” of generated resources, a point of “contact”, a conventional equal sign (more precisely, a “more” or “less” sign). We can characterize the stage of assessing the effectiveness of the use of financial resources (for production activities), because here two differently directed processes can be compared with each other.

The enterprise undergoes a continuous process of formation and use of financial resources, their circulation, the purpose of which is to service the production and economic activities of the enterprise.

1.2 Sources of financial resources

To carry out production and economic activities, enterprises use a variety of sources of financial resources. The structure of attracted sources largely determines the financial stability of the enterprise and the profitability of its production and economic activities. Issues of generating financial resources at an enterprise are resolved within the framework of financial management, which is one of the most important subsystems of the overall management system modern enterprise. It is the function of the financial services of enterprises and in particular the financial manager to determine
sources of financial resources and provision of them to the enterprise.

Various are known block diagrams classification of sources of financial resources of enterprises. The most common is the division into own and borrowed financial resources. The fundamental difference between these types of resources is that upon liquidation of an enterprise, its owners have the right to part of the property remaining after settlements with third parties. In addition to dividing into own and borrowed funds, the classification of sources according to their urgency is also known:

1) sources of short-term financing;

2) sources of long-term financing.

The structure of the funds used, as a rule, depends on the goals pursued by the enterprise. Most often, the own funds of an economic entity are used to finance long-term decisions, and in the form of short-term sources - borrowed capital. Own capital (internal source) in domestic practice is of priority importance, which has a positive effect on the financial stability and reputation of the enterprise.

Own funds are the main sources of financing the activities of the enterprise because Operating in market conditions, enterprises must have a certain property and operational independence. Adequacy of own funds is the main condition for providing an enterprise with borrowed funds. The faster growth rate of equity capital compared to borrowed capital is an indicator of the rational relationship between these types of financial resources.

If internal source resources are insufficient to finance financial decisions, borrowed capital (external source) is used. It should be noted that in a market economy, borrowed resources are provided on a paid basis, and therefore, the increase and use of one’s own financial resources is of particular relevance. With the effective organization of production activities and expanded production, the need for borrowed funds is reduced, which leads to the independence of an economic entity and is a favorable condition for the further reproduction of its own resources.

Thus, any stage of the movement of funds should be considered from the perspective of an increase in their value. There is some convention in the division into own and borrowed financial resources, because with the diversity of modern financial relations, it is quite difficult to strictly classify the most diverse sources of financing. The most appropriate in market conditions is classification based on payment, i.e. paid or free financial resources.

The financial resources of an enterprise formed at the expense of its own and equivalent funds include, first of all, various incomes and receipts.

The income of an economic entity is formed from the following sources: profit from core activities, profit from research work performed, profit from financial transactions, profit from construction and installation work carried out in an economic way, etc.

The income that forms the financial resources of enterprises includes:

Depreciation deductions,

Stable liabilities

Proceeds from the sale of disposed assets,

Targeted revenues (for the maintenance of children in preschool institutions, etc.),

Funds received through the mobilization of internal resources in construction, contributions from members of the workforce, insurance compensation for risks that have occurred, resources coming from concerns, associations, industry structures, funds from budgets and extra-budgetary funds.

The most significant financial resources can be obtained in the form of profit from the production and economic activities of the enterprise. Being an economic category, profit characterizes the financial result of an enterprise. Profit reflects the net income received in the sphere of material production. The profit indicator is the indicator that most fully reflects the efficiency of the production and economic activities of the enterprise. Receiving revenue by a business entity does not mean making a profit.

To identify the results of activities, it is necessary to compare revenues with the costs of production and sales of products. The result showing the excess of revenue over the full cost indicates the profitable operation of the enterprise in producing products, i.e. in this case we can talk about profit.

The main factors influencing profit growth are: an increase in revenue from sales of products (services) and a decrease in the cost of manufactured products.

The total amount of profit received by an enterprise from all types of activities is called gross profit. This indicator is summary, because includes the following components:

Profit from sales of commercial products,

Profit from other sales,

Income from non-operating operations (less expenses from these operations).

Profit from the sale of commercial products is the main and most significant part of the entire profit of the enterprise. Profit from the sale of products (works, services) is the result obtained from the main activities of the enterprise. It is calculated as the difference between revenue from sales of products (works, services) and value added tax, excise taxes, production and sales costs. The composition of costs that forms the cost of production includes: material costs, labor costs, deductions for social needs, depreciation, etc.

The second component of gross profit is profit from other sales. The share of this profit is very insignificant in the total profit. Profit from other sales involves: profit from the sale of fixed assets and other property of the enterprise (raw materials, supplies, fuel, spare parts, waste, intangible assets). Profit from other sales is defined as the difference between the proceeds from sales and the costs of this sale. For example, when selling fixed assets, the result is considered to be the difference between the proceeds from the sale of this property (less VAT) and the residual value of the assets (adjusted for the inflation factor), taking into account the costs incurred for the sale.

The next structural component of gross profit is profit from non-operating operations. This article is formed by transactions of various nature not related to the main activity of the business entity and not related to the sale of products or property of the enterprise. Profit from non-operating operations includes: profit from long-term and short-term financial investments, profit from leasing property.

Financial investments mean the placement of enterprises’ own funds in order to generate income.

Long-term financial investment means contributions to the authorized capital of other enterprises (partnerships, joint stock companies, joint ventures and subsidiaries), acquisition of shares and other securities, provision of loans, i.e. all kinds of financial investments lasting more than a year.

The forms of short-term investments are: short-term treasury bills, bonds and other securities, loans. Non-operating profits also include different kinds fines, penalties, penalties received by this business entity, as well as profit from previous years identified in the reporting period, profit from revaluation inventories and finished products, from transactions with foreign currency, receipts of debts previously written off as bad, funds received free of charge from other enterprises in the absence of joint activities (except for funds received in the form of founders' contributions to the authorized capital).

Of course, with the establishment of market relations, the role of profits received from financial transactions (interest received on securities of other issuers, income from transactions in financial markets) will increase.

But it should be remembered that with the exception of profit received from the main activity, all other types of income are additional. They can be used to improve the financial condition of a business entity, and are rather temporary and impermanent in nature.

If, as a result of production and economic activities, an enterprise has losses, then this is also reflected in the balance sheet profit indicator (the final financial result of the enterprise, reflected in the balance sheet). The procedure for distributing balance sheet profit depends on the legal form of the enterprise.

After deduction of taxes and fees, the net profit of the enterprise is formed (from which payments and deductions are also possible), which is subject to distribution. The directions for distribution of profits remaining at the disposal of the enterprise are within the competence of the enterprise and are fixed in its charter and regulations being developed. The profit remaining at the disposal of an economic entity can be used to reconstruct existing production, modernize equipment, replenish its own working capital, finance R&D, improve technology and organization of production, satisfy consumer and social needs, etc.

The listed activities are financed from funds formed at the enterprise, the number and name of which are determined by the business entity independently, but, as a rule, the following funds can be allocated:

Consumption,

Savings,

Spare,

Social sphere, etc.

Depreciation charges are the second largest source of financial resources for an enterprise after profit. Depreciation charges are the monetary expression of the amount of depreciation corresponding to the degree of depreciation of fixed assets and intangible assets.

These deductions are included in the cost of production. The main purpose of depreciation charges is to ensure the reproduction of basic production assets and intangible assets of the enterprise.

Significant financial resources, especially in newly created and reconstructed enterprises, can be mobilized in the financial market. Specific forms of their mobilization can be: the sale of shares, bonds and other types of securities issued by a separate enterprise, as well as credit investments.

Funds received through redistribution include insurance compensation for risks incurred, financial resources coming from concerns, associations, parent companies or other industry structures, resources coming on a shared basis, dividends and interest on securities of other issuers, budget subsidies and other types of resources.

Also, the financial resources of an existing commercial enterprise according to the main sources of their formation can be structured as follows

Financial resources generated from proceeds from sales of products (profit, depreciation fund, wage fund, material cost reimbursement fund);

Financial resources received from other sales (property, services not related to core activities, etc.);

Financial resources generated in the financial market (credits and borrowings, sale of own shares and other types of securities, dividends and interest on securities of other issuers, insurance compensation, etc.);

Financial resources generated from accounts payable (suppliers and contractors, wages, social insurance, budget, etc.);

Financial resources generated from contributions and revenues of a targeted nature (coming from other organizations and individuals, budget subsidies, etc.)

So, the organization’s financial resources are divided into its own and borrowed.

Own financial resources and equivalent funds include:

Profit,

Depreciation,

Stable liabilities

Equity,

Target revenues,

Shares and other contributions of members of the labor collective and others.

Borrowed ones include:

Attracted additional share capital,

Bank loans and credits,

Free assistance provided.

2. ANALYSIS AND USE OF FINANCIAL RESOURCES IN THE ENTERPRISE

2.1 Characteristics of the organization’s activities

The organizational structure of Sberbank is presented as follows:

Savings Bank of the Russian Federation (as the head office);

Regional banks;

Branches;

Branches.

The Savings Bank of the Russian Federation, as the head office, organizes the work of the lower divisions of the bank. At the same time, research and analysis of the activities of bank institutions, development of proposals to determine priority areas of development, current and long-term planning are carried out; studying the economy and financial market of the country; providing the Sberbank of the Russian Federation system with information on the activities of its institutions, managing credit resources and analyzing the effectiveness of their use, as well as the services provided by bank institutions.

In addition, Sberbank of the Russian Federation, together with other services, is developing proposals for the introduction of new financial products in order to attract clients, and establishes commission rates for services. Conducts economic analysis of attracting public funds and legal entities in deposits, deposits and securities, analyzes the practice of applying current banking legislation, ensures the collection, verification and synthesis of all statistical reports on the main activities of bank institutions.

Territorial banks conduct an analysis of the activities of their institutions based on their subordination and the economy of individual regions in order to determine the most profitable sector of the economy for lending and assess the competitive environment.

Currently, due to the intensification of competition, a systematic analysis of the situation developing in the region in the financial and credit markets is being carried out.

At the same time, the number of financial institutions is determined, the work of commercial banks, the structure of their liabilities and assets are studied; main types of banking services and quality of customer service, interest rate policy of banks (rates on deposits, deposits and loans), securities market, potential clients.

The most widespread divisions of Sberbank are its branches and branches . The process of consolidation and strengthening of the banking network was manifested in the fact that the rights of branches to independently choose where to invest funds were limited. Soft control was introduced over the issuance of interbank and commercial loans by branches and branches - the head bank had to be notified about the issuance of loans. The tightening of the lending regime was manifested in the fact that formally the provision of loans became possible only with the permission of Sberbank of the Russian Federation.

In addition, a database of unscrupulous borrowers was created. The restriction of the right to independently issue loans was accompanied by the introduction of uniform rules for selecting borrowers, which partly guaranteed their reliability. For example, in the interbank market it was proposed to work only with structures included in the top hundred Russian banks in terms of equity capital. Small banks with a balance sheet of less than 500 billion non-denominated rubles could not count on receiving resources.

The lowest level in the structure of Sberbank are branches . They are created at large enterprises or organizations, or in remote corners of the country where there are sparsely populated areas, and perform a narrow range of operations, for example, payroll, reception utility payments, etc. Their independence in general is extremely limited.

Thus, carried out in last years centralization of management of Sberbank institutions ensured strengthened control and coordination of the work of its structural divisions.

In order to create an optimal structure for the network of bank institutions and improve its financial condition, an analysis of the existing network is carried out, including determining the profitability of each institution. When analyzing the existing network, the correctness of its construction and territorial location is determined; level of service to the population and legal entities by the branch (agency), i.e. how many residents of the region use the services of bank institutions, and how many - commercial banks; optimal operating mode; economic indicators are studied (income and expenses of the population, situation in the financial market, etc.); changes in the activities of the department (branch) for the analyzed period, which are compared with the results of similar institutions. When analyzing the network, the possibility of creating specialized branches for servicing legal entities, working with securities, currency, and others, is especially carefully studied, as well as the possibility of creating branches in regions with a small number of them. Sberbank has developed a so-called branch economic passport, which will help identify the most complex issues in organizing banking services in a given territory.

Primorsky branch of Sberbank Russian Federation(hereinafter Primorskoe OSB No. 8635/00172), is a branch of Sberbank of Russia. Has its own seal, stamps, forms using the name of the bank, operates on the basis of provisions developed in accordance with the Charter of the Joint-Stock Commercial Savings Bank of the Russian Federation, open joint-stock company, registration number 1841, General license issued by the Central Bank of the Russian Federation for banking operations No. 1481 dated October 3, 2002.

Primorskoe OSB No. 8635/00172 is included in unified system Bank, directly manages the work of the Bank's system divisions located in the territory it serves.

The branch has a separate balance sheet, which is included in the Bank's balance sheet.

Primorskoe OSB No. 8635/00172 carries out the following banking operations and transactions on behalf of Sberbank of Russia:

· attracting funds from individuals and legal entities to deposits;

· placement of raised funds;

· opening and maintaining bank accounts for individuals and legal entities;

· carrying out settlements on behalf of individuals and legal entities, including correspondent banks, on their bank accounts;

· collection of funds, bills, payment and settlement documents and cash services for individuals and legal entities;

· purchase and sale of foreign currency in cash and non-cash forms;

· trust management of funds and other property under agreements with individuals and legal entities;

· provision of consulting and information services;

· purchase, sale, accounting, storage and other transactions with securities.

RF. Interest rates on loans, deposits and fees for services provided to branch clients are determined by the Bank or in the manner established by it, in compliance with the requirements of current legislation.

The current activities of the branch are managed by the Council and the branch manager.

The branch manager manages the activities of the branch in accordance with the powers determined by the Regulations on the structural unit and the General Power of Attorney issued to him by the Bank:

· concludes agreements for the department to carry out banking operations and transactions;

· has the right of first signature on financial documents;

· manages the property of the department to carry out its current activities within its competence;

· concludes employment contracts with employees of the enterprise, applies incentive measures to these employees and imposes penalties on them;

· issues orders and gives instructions that are mandatory for all employees of the department;

· organizes accounting;

· heads the Branch Council and is personally responsible for organizing its work and making decisions that comply with the regulatory and administrative documents of the Bank.

At meetings of the Council, issues that determine the main directions for improving the activities of the department are considered. Measures are being developed to fully satisfy the needs of clients for banking services and to obtain maximum profits on this basis. The branch's work plans are approved, decisions are made to change the organizational and staffing structure of the branch, reports from their managers are heard, audit materials are reviewed, decisions are made to write off uncollectible loan debt in the manner and on the terms established by the Bank, and other production and social problems are resolved aimed at the department’s implementation of decisions of the Bank’s Management Board, requirements and instructions of the Bank .

2.2 Dynamics and structure of the organization’s financial resources

Let's consider the structure of the equity capital of Primorsky OSB No. 8635/00172, which is a set of fully paid elements of various purposes that ensure economic independence, stability and sustainable operation of the bank.

A prerequisite for inclusion in the equity capital of certain funds to cover unforeseen losses that arise in the course of the bank’s activities, thereby allowing the bank to continue current operations if they occur. However, not all elements of equity capital have such protective properties to the same extent. This circumstance necessitated the allocation of two levels in the structure of the bank’s own capital: fixed capital and additional capital.

In accordance with the regulation of the Bank of Russia dated November 26, 2001 No. 159-P “On the methodology for calculating equity (capital) credit institutions» the sources included in the fixed capital include funds of the most permanent nature, which the bank can, under any circumstances, use to cover unforeseen losses. These elements are reflected in the reports published by banks and form the basis on which many assessments of the quality of a bank's work are based.

Additional capital, subject to certain restrictions, includes funds that are less permanent in nature and can only be used to cover losses under certain circumstances. The cost of such funds changes over time.

Included in the sources of fixed capital of Primorsky OSB No. 8635/00172

stand out:

Authorized capital in terms of ordinary shares, as well as shares that are not classified as cumulative;

The bank's reserve fund, formed from the profits of previous years and

current year;

Retained earnings from previous years and the current year;;

Provision for impairment of investments in securities and shares.

Sources of formation of equity capital are:

Increase in property value due to revaluation;

Part of the reserve for possible losses by courts;

Funds formed in the current year;

Profit for the current year.

The structure and composition of the equity capital of Primorsky OSB No. 8635/00172 is presented in (Table 1). The analysis was carried out on the basis of information about the main economic indicators of Primorsky OSB No. 8635/00172.

Table 1. Sources of equity capital of Primorsky OSB No. 8635/00172.

Indicators
Indicators

1.1. Authorized capital
1.2. Reserve Fund % of the authorized capital
1.3. retained earnings

2. Sources of additional capital:

2.2.Increase in property value due to revaluation

The authorized capital of Primorsky OSB No. 8635/00172 is the main element of equity capital. It is he who determines minimum size property that guarantees the interests of depositors and bank loans, and serves as security for its obligations. As can be seen from Table 1, the size of the authorized capital did not change during the study period and amounted to 39,485 thousand rubles.

Primorsky OSB No. 8635/00172 in the course of its activities, as profits accumulated, created funds: a reserve fund and a reserve for the depreciation of investments in securities. The reserve fund, which is created without fail, is intended to cover losses and compensate for losses arising as a result of current activities, and thus serves to ensure the stable operation of the bank.

The bank's reserve fund amounted to 17.4% in 2004, 17.8% in 2005, and 18.3% of the authorized capital in 2006, which indicates compliance with the Bank of Russia's requirement for its size (the size of the reserve fund should not be less than 15% of the authorized capital).

The purpose of the reserve for impairment of investments in securities is to eliminate the negative consequences associated with the fall in the value of securities purchased by the bank. The reserve for impairment of investments in securities constitutes a small percentage of its share in the structure of fixed capital.

Additional capital OSB No. 8635/00172 is represented by a reserve for possible loan losses, which is used to cover the principal debt outstanding by clients. It constitutes the largest share in the structure of additional capital. During the entire analyzed period, the amount of second-tier capital also increased due to the increase in the value of property during revaluation due to inflation.

Let us conduct a study of the dynamics of the bank's fixed capital in Table 2

OSB No. 8635/00172 for three years. According to Figure 1, it can be seen that during the analyzed period the bank's fixed capital increased by an average of 4.5%. The increase was mainly due to the growth of retained earnings in 2005 by 17.3%, in 2006 by 18.6%.

Table 2. Dynamics of fixed capital Primorskoye OSB No. 8635/00172

Indicators	Deviations		Deviations
Indicators		Growth rate, %		Growth rate, %
1. Sources of fixed capital:
1.1. Authorized capital
1.2. Reserve Fund % of the authorized capital
1.3.Retained earnings
1.4. Provision for impairment of investments in securities
2. Sources of additional capital:
2.1. Provision for possible loan losses.
2.2. Increase in property value due to revaluation

Let us visualize the dynamics of the main elements of fixed and additional capital of Primorsky OSB No. 8635/00172 for the three analyzed years in (Figure 1).

Figure 1. Dynamics of the main elements of fixed and additional capital Primorskoe OSB No. 8635/00172, thousand rubles.

Due to the growth of the bank's profits, contributions to the reserve fund increased, which increased in 2005 by 21%, and in 2006 by 3.1%.

Thus, most of the equity capital (more than 50% of all own sources of resource generation) was formed from the most stable and stable funds, and, above all, the authorized capital of the bank’s funds.

Consequently, Primorsky OSB No. 8635/00172 has enough of its own funds that can ensure its continuation of operations in the event of unforeseen losses.

In addition, the excess actual value reserve fund above the minimum allowable allows the bank to increase, at the expense of this part by capitalization, the size of its authorized capital and thereby increase the guarantee of protection of the interests of depositors and creditors. And the presence of various funds in the bank is an important indicator of the bank’s real potential for organizational growth.

2.3 Analysis of the formation and use of the organization’s financial resources

Let's consider the main economic indicators of the activities of Primorsky OSB No. 8635/00172.

An analysis of the economic indicators of the activities of Primorsky OSB No. 8635/00172 was carried out for the period from 01/01/2009 to 01/01/2010 based on internal sources of information, i.e. current accounting data, consolidated annual accounting reports.

The level of development of passive operations determines the size of banking resources and, consequently, the scale of the bank’s activities. The main place in the resources of the Primorsky branch is occupied by deposits of individuals and legal entities, balances on settlement (current) and budget accounts of legal entities and other liabilities. The main goal of analyzing liabilities is to clarify the economic and organizational reasons that hinder their active attraction and movement, development and implementation of measures to increase the resource base.

In the structure of liabilities, attracted resources as of January 1, 2010 amounted to 75,136 thousand rubles, they increased by 36.3% or by 27,251 thousand rubles. (compared to 01/01/2009), share in general structure liabilities and raised funds as of 01/01/2010 amounted to 98.7%.

Taking into account the traditional focus of Sberbank, the bulk of the client base consists of private depositors, i.e. The largest share in the structure of attracted resources as of 01/01/2010 is made up of funds from private individuals - 91.7% of their volume (as of 01/01/2009 - 74.3%).

As of 01/01/2010, cash balances in private deposits increased almost 1.3 times (growth rate 127.8%) or by 10,707 thousand rubles, compared to 01/01/2009, which was the result, firstly , increasing the number of bank clients. From (Table 1) you can see how the number of depositors changed: 1 sq. 2009 – 31,357 people, 2nd quarter. 2009 – 32,641 people, 3rd quarter. 2009 – 33,252 people. The increase in the number of depositors, to a certain extent, is due to the fact that:

Sberbank of the Russian Federation has established itself as a reliable financial institution, which for many years has been engaged in operations to attract funds for private deposits, and is guaranteed and fully responsible for its obligations.

Primorsky OSB No. 8635/00172 accepts deposits from the population: on demand, salary, universal, fixed-term pension, pension plus, pension deposit, deposit, compensation, youth, savings, replenishable deposit, special, savings.

Even the names of the deposits themselves indicate that Sberbank deposits are available to almost all segments of society - from young people to pensioners.

During the analysis, we can conclude that the number of accounts of depositors of Primorsky OSB No. 8635/00172 for 2009 increased by 4057 units and amounted to 87991 accounts. The overall increase occurred by only 4.83%, this is due to the fact that there was an increase in the number of accounts for such deposits as: salary, universal, youth, pension plus, replenishable deposit, fixed-term pension, SBRF deposit, respectively, by 136.14%; 177.14%; 12.5%; 16.14%; 75.0%; 7.3%; 31.0%, however, for deposits: demand, savings, compensation, pension deposit, savings, there was a decrease in the number of accounts by 3%; 5%; 22.5%; 7.86%; 98% respectively.

The volume of funds entrusted by individuals to the Primorsky OSB No. 8635/00172 is steadily increasing. Moreover, the largest increase was observed in Savings deposits by 1,576,872 rubles, the growth rate was 196.3% and in Pension plus deposits by 5,562,666 rubles, the growth rate was 144.0%. A noticeable increase was noted in Time Pension Deposits in the amount of 689,823 rubles, the growth rate was 120.9%. During the year, there was also an ebb in some types of deposits: for the compensatory deposit, the balance decreased by 15,798 rubles, for the youth deposit – 2,414 rubles. The greatest ebb is observed in demand deposits, it amounted to 977,293 rubles. This is due to the cessation of opening accounts for demand deposits and their re-registration to salary and universal ones.

If you look at it as a whole, the number of depositors is 67.7% of the total population in the region as a whole. The remaining 32.3% are our promising potential clients.

The replenishment of deposits is growing due to non-cash receipts of funds. This is mainly due to the transfer of wages and pensions to the accounts of individuals (Table 2).

In 2009, only 99,027 thousand rubles were received into deposit accounts. The growth rate of non-cash receipts in the second quarter, in comparison with the first, was 138.4%, the decline rate in the third quarter, in comparison with the second, was 80.3%, the growth rate compared to the first quarter was 111.2%; and in the fourth quarter there was a growth rate compared to the third and first quarters of 106.7% and 118.6%, respectively.

In order to more rationally use funds raised in deposits and to evaluate deposits as short-term lending, the average shelf life of the deposit ruble and the level of deposition of funds received in deposits are calculated using the following formula:

SD = Avg./V*D

where SD is the average shelf life of a deposited ruble (in days);

Osr. – average deposit balance, rub.;

В – turnover on issuance of deposits, rub.;

D – number of days in the reporting period.

SD = 31,383 / 109,405 *366 days.

SD = 105 days.

Table 1. Analysis of deposits of individuals of Primorsky OSB No. 8635/00172

Type of deposit	Number of accounts (units) as of	Deviation (+/-) since the beginning of the year	Balance of deposits (RUB) as of	Increase in deposits	Growth rate, %
Type of deposit		Deviation (+/-) since the beginning of the year		Increase in deposits	Growth rate, %
Until reste restante
Deposit of the Security Council of the Russian Federation
Term pensions
Savings
Replenishable deposit

Compensatory
Youth
Pension deposit of the SB of the Russian Federation
Universal
Pension plus
Cumulative
Salary

Table 2. Non-cash receipts in deposits of individuals for 2009

Non-cash receipts	1st quarter, thousand rubles	2nd quarter, thousand rubles	3rd quarter, thousand rubles	Growth rate (decrease) compared to the 2nd quarter, %	Growth rate (decrease) compared to the 1st quarter, %	4th quarter, thousand rubles	Growth rate (decrease) compared to the 3rd quarter, %	Growth rate (decrease) compared to the 1st quarter, %
Wage

Other amounts

The average shelf life of a deposited ruble reflects the dynamics of the stability of deposits. This is especially important for assessing deposits as short-term lending resources. In our case, the average shelf life of a deposited ruble as of 01/01/2010 is 127 days (as of 01/01/2009 – 105 days).

Uo = Pv / Po * 100,

where Uo is the level of deposit subsidence.

Pv – increase in deposits.

By – turnover based on the receipt of deposits.

Uo = 12,262,254 / 99,027,000 * 100 = 12.4%

The deposit settlement rate as of 01/01/2010 was 12.4%, which is 8.4% less than as of 01/01. 2009 (20.8%)

In addition to working with clients - individuals, Primorskoe OSB No. 8635/00172 is systematically developing a system of servicing legal entities.

The second most important source of attracting resources for Primorsky OSB No. 8635/00172 is funds in the accounts of enterprises and organizations.

Primorskoye OSB No. 8635/00172 provides legal entities with a range of banking services, and also provides them with a unique opportunity to make high-quality and fast payments through the Sberbank settlement system, which operates throughout Russia.

The number of legal entity accounts opened in Primorsky OSB No. 8635/00172 in 2009 increased 1.3 times (compared to 01/01/2009 - 297 open accounts) and amounted to 394 units with the amount of funds on them as of 01/01/2010 3339 thousand rubles.

Compared to January 1, 2009, balances on current accounts increased by 12,515 thousand rubles (their share in the total structure of liabilities is 6.8%). The share of legal entities using the bank's services is 77% of the total number of legal entities.

At the same time, there is a sharp influx of funds into the current accounts of budgetary organizations. So, if as of 01/01/2009 the share of this item in the context of attracted resources was 2%, then over the year it increased by 2% (RUB 1,137,197) and as of 01/01/2010 it is 4% of the total volume of attraction .

The bank's relations with clients are built on the principles of responsible partnership, participation in solving specific problems of the client and taking into account the real needs of his business.

Funds raised by the bank as deposits for a period of up to 1 year can be used not only to issue short-term loans, but also to provide them for longer periods. In order to set the limit within which it is possible to direct short-term resources into medium- and long-term investments, the bank needs to calculate the coefficient of transformation of short-term resources into long-term ones.

Kt = (1 – Do / Ko) * 100

where Kt is the transformation coefficient.

Co – credit turnover on receipts of funds to deposit accounts (for a period of up to 1 year, including demand accounts) in the branch.

Before – debit turnover for issuing short-term loans and other short-term investments up to 1 year.

Kt = (1 – 12,357,747 / 81,218,472) * 100 = 0.85 or 85%

Those. The bank is able to direct 85% of short-term resources to medium- and long-term investments.

Thus, the total amount of funds that the bank is able to allocate for long-term investments can be determined by the formula:

M = (Zn + Ko - Zk) * Kt + Znd + Code – Znd

where M is the total amount of long-term investment resources.

Zn, Zk – funds in demand deposit accounts for a period of up to 1 year, respectively, at the beginning and end of the year.

Co – credit turnover on receipts of funds on demand deposit accounts for a period of up to 1 year.

Kt – coefficient of transformation of short-term resources into long-term ones.

Znd, Zkd – funds in accounts intended for financing and lending capital expenditures and deposits for a period of more than 1 year, respectively, at the beginning and end of the year.

Code – credit turnover on receipts of funds to the account for financing and lending of capital expenditures and time deposits.

M = (8,585,284 + 81,218,472 – 6,911,650) * 0.85 + 5,287,424 + 110,628 – 5,287,424 = 68,018,918 rubles.

The total amount that the bank can allocate for long-term investments is 68,018,918 rubles.

Liquidity is one of the generalized qualitative characteristics of a bank’s activities, which determines its reliability.

Bank liquidity presupposes the timely fulfillment of all undertaken obligations, including those that may arise in the future. In this case, the sources of funds for fulfilling obligations are the bank’s cash, expressed in cash balances in the cash desk and in correspondent accounts; assets that can be quickly converted into cash; interbank loans, which, if necessary, can be obtained from the interbank market or from the Central Bank.

Bank liquidity is an indicator of the bank’s stability, assessed by the liquidity of the balance sheet, when funds on an asset, due to their rapid transformation into cash or means of payment, can pay off urgent obligations on a liability. In other words, a bank’s liquidity is its ability to fulfill its obligations to depositors and creditors in a timely manner and without loss.

Primorsky OSB No. 8635/00172 calculates the following liquidity ratios.

Economic standards for bank liquidity:

1. Instant liquidity (N2) – the ratio of the amount of highly liquid bank assets to the amount of liabilities on demand accounts.

H2 = Lam / Ovm * 100%

where Lam are highly liquid assets.

Ovm – obligations on demand.

The criterion level of this indicator is below 20%.

In terms of economic content, this standard means the bank’s ability to fulfill its obligations to depositors at the current moment (Table 3).

Measures to ensure instant liquidity:

· attracting short-term loans;

· purchase and sale of foreign currency, securities and metals;

· development of proposals for the sale of investment assets;

· development of proposals for de-cashing the cash balance in the cash register.

Table 3. Instant liquidity ratio – N2 (norm – min 20)

Meaning	Relative to previous date	In relation to

Based on the results of the analysis, we can say that the standard was not met as of 01/01/2009, as of 09/30/2009 and as of 01/01/2010. In the fourth quarter there was an increase in the indicator compared to the beginning of the year. It should be noted that in the first and second quarters there was a sharp drop in the indicator due to a sharp decrease in the size of demand liabilities and an even greater drop in the amount of highly liquid assets. As of 01/01/2009, 09/30/2009 and 01/01/2010, the size and standard of highly liquid assets increased significantly.

As of January 1, 2010, the standard is met and exceeds the minimum value by 13.5% (Table 4).

2. Standard current liquidity(N3) – the ratio of the amount of liquid assets to the amount of bank liabilities on demand accounts and for a period of up to 30 days. Calculated using the formula:

H3 = Lat / Ovt * 100%

where LAT is the bank’s liquid assets, loans issued by the bank in rubles and foreign currency, with a repayment period of 30 days;

OBT - bank obligations on demand for a period of up to 30 days.

The minimum acceptable value is 50%.

In terms of economic content, the current liquidity ratio (N3) means the extent to which the liquid part of all balance sheet assets can pay off liabilities on demand at a time, since the investor can ask for a return at any time.

Table 4. Current liquidity ratio – N3 (norm – min 50)

	Meaning		In relation to

The current liquidity ratio did not meet the set criteria in the first and second quarters due to a sharp decrease in the level of liquid assets in relation to liabilities. In the third and fourth quarters, the volume of liquid assets increased, and the standard began to rise. As of January 1, 2010, the standard exceeds the minimum acceptable value by 16.8%.

3. The general liquidity ratio (N5), reflecting the percentage of liquid assets and total assets, is calculated using the formula:

H5 = Lat / A – Po * 100%

where Lat – current liquid assets;

A – the adjusted amount of all assets on the balance sheet;

Ro – required reserves of a credit institution.

The minimum acceptable value of the standard is set at 20% (Table 5).

Table 5. General liquidity ratio – N5 (norm – min 20)

Meaning	Relative to previous date	In relation to

For most of the year, the general liquidity standard was not met and decreased compared to the beginning of 2009.

At the beginning of 2010, the standard exceeds the minimum value by 9.9%.

The general development of active operations, their structure in the analyzed period is presented in (Table 6).

Table 6. Allocation of ruble and foreign resources for 2009

Indicators	Fact as of 01.01. 2009, thousand rubles	Fact as of 01/01/2010, thousand rubles.	01/01/2010 as a percentage of 01/01. 2009
Total ruble resources, thousand rubles.


Remaining allocated free resources

Total foreign resources, thousand US dollars
Balance of foreign currency deposits
Balance of investments in securities

Having analyzed the structure of the allocated resources, it is clear that as of 01/01/2009. The main share is occupied by the loan portfolio, in particular the balance of loan debt of individuals - 31,215 thousand rubles (49.2% of the total share of allocated resources), as well as the balance of loan debt of legal entities - 18,221 thousand rubles (28.7% of total share of allocated ruble resources). The balance of allocated free resources in the Territorial Bank is 22.1% of the total share (14,000 rubles).

Having carried out a further analysis of the allocated ruble resources, we see that the main and priority direction for the placement of ruble resources in 2009 was is an increase in the loan portfolio in the total share of allocated resources. So as of 01/01/2010. the balance of loan debt of individuals increased by 59%, the share in the total share was 53.2% (49,620 thousand rubles). The balance of loan debt of legal entities increased by 50.2%, the share in the total share is 29.4% (27,370 thousand rubles).

The share of allocated free resources decreased by 8.6%. The share as of 01/01/2009 was 22.1% and as of 01/01/2010 – 13.7%. This reduction is positive since this is a low-margin operation. Another positive thing is that the balance of investments in securities (OFZ) has increased. Their share as of January 1, 2010 was 3.7% (3,448 thousand rubles).

The balance of allocated resources in foreign currency increased from $48,000 to $53,000, or by 10.4%.

The main place in the overall structure of assets of Primorsky OSB No. 8635/00172 is occupied by loans to legal entities, individuals - entrepreneurs and individuals.

But the main direction was to increase the loan portfolio of individuals. The general structure of the loan portfolio of individuals for the analyzed period is presented in (Table 7).

The table shows that the bulk of the total share of the loan portfolio of individuals is occupied by loans for urgent needs of the population. Its share is as of 01/01/2009. 85.4%. The balance for this type of loan increased during the analyzed period by 10,769 thousand rubles (40.4%). Meanwhile, the share of loans for emergency needs in the total share of loans decreased by 10%. This happened as a result of the increased demand for other types of lending: housing loans amounted to 14.4% in the total share of the loan portfolio (10% as of January 1, 2009), the balance increased by 127.8%; There was a demand for such types of loans as corporate loans (the share as of 01/01/2010 was 4.7%) and trust loans (the share as of 01/01/2010 was 1.5%). The share of related lending decreased slightly (as of January 1, 2010 it amounted to 3.6% of the total share of the loan portfolio), although the balance of this type of loan increased by 48.3%.

Table 7. General structure of the loan portfolio of individuals for the analyzed period

Type of loan	Fact as of 01/01/2009 thousand rubles.	Fact as of 01/01/2010 thousand rubles.	Ud. weight, %	01/01/2010 as a percentage of 01/01/2009
For urgent needs
Linked lending
Educational loan
Housing loan
Corporate loan
Loan secured by c. papers
Loan secured by bullion bars
Trust loan

Educational loans are in the least demand: as of January 1, 2010, their share was 0.4% in the total share of the loan portfolio of individuals. The balance decreased by 9.9% compared to January 1, 2009.

There is no demand for such types of loans as a loan secured by securities, a loan secured by bullion bars.

The Bank provides a full range of credit services and offers a wide range of lending modes: credit line, "People's Telephone" - a loan to individuals to pay for services for installing a telephone and connecting to the subscriber network, investment loans (for the purchase of fixed assets, for technical re-equipment, reconstruction, enterprise expansion), lending for personal consumption, construction and acquisition of real estate, overdraft lending.

Let's analyze the department's loan portfolio, which includes loan issuance, loan repayment, loans and overdue debt (Table 8).

In 2009, the Primorsky branch issued loans totaling 91,963,500 rubles, which is 48,265,000 rubles more than in 2006.

In the 2nd quarter of 2009, loans were issued in the amount of 24,338,500 rubles, which is 4,717,600 rubles more than in the 1st quarter of 2009 (19,620,900 rubles); the growth rate was 124.0%. In the 3rd quarter of 2009, loans were issued for a total amount of 20,184,100 rubles, which is less by 4,154,400 rubles than in the 2nd quarter of 2009 (24,338,500 rubles) and more by 563,200 rubles than in the 1st quarter of 2009 year (RUB 19,620,900). The growth rate compared to the 2nd quarter of 2009 decreased by 17%. In the 4th quarter of 2009, loans were issued for 27,820,000 rubles, which is more than in the 3rd quarter by 7,636,000 rubles, more than in the 2nd quarter by 3,481,500 rubles and more than in the 1st quarter of 2009 by 8,199,100 rubles The growth rate compared to the 3rd quarter of 2009 was 137.8%.

Loans issued to individuals in the 2nd quarter of 2009 amounted to 14,038,500 rubles, which is 2,717,600 rubles more than in the 1st quarter of 2009 (11,320,900 rubles). The growth rate was 124.0%. In the 3rd quarter of 2009, loans to individuals amounted to 14,058,600 rubles, which is 20,100 rubles more than in the 2nd quarter of 2009 and more by 2,737,700 rubles than in the 1st quarter of 2009. The growth rate was compared to from the 2nd quarter of 2009 – 100.1%. In the 4th quarter of 2009, loans to individuals were issued in the amount of 14,120,000 rubles, which is 61,400 rubles more than in the 3rd quarter, more by 81,500 rubles compared to the 2nd quarter and more by 2,799,100 rubles than in the 1st quarter of 2009 d. The growth rate was 100.4% compared to the 3rd quarter of 2009.

Loans issued to legal entities, incl. entrepreneurs, in the 2nd quarter of 2009, 10,300,000 rubles, which is 2,000 thousand rubles more than in the 1st quarter of 2009. (8,300 thousand rubles). The growth rate was 124.1%. In the 3rd quarter of 2009 Issued to legal entities, incl. entrepreneurs 6,125,500 rubles, which is 4,174,500 rubles less than in the 2nd quarter of 2009 and less by 2,174,500 rubles than in the 1st quarter of 2009. The growth rate compared to the 2nd quarter of 2009 was 30.3%.

In the 4th quarter of 2009, 13,700 thousand rubles were issued, which is more than in the 3rd quarter by 7,574,500 rubles than in the 3rd quarter of 2009, more by 3,400 thousand rubles than in the 2nd quarter of 2009 and more by 5,400 thousand rubles than in the 1st quarter of 2009. The growth rate compared to the 3rd quarter of 2009 was 223.7%.

Loan repayments totaled 44,424,376 rubles in 2009, including 12,842,736 rubles by individuals, 31,581,640 rubles by legal entities including entrepreneurs.

The branch's loan portfolio as of January 1, 2010 consists of loans granted to legal entities in the amount of 27,368,500 rubles, to individuals - 49,620,300 rubles. Loans for urgent needs are in greatest demand among the population, accounting for 75.4%.

Table 8. Loan terms

When talking about issuing loans, one cannot help but analyze interest rates. Throughout the analyzed period, interest rates had a steady downward trend from 22% to 19%. This was due to a decrease in the refinancing rate of the Central Bank of the Russian Federation.

Targeted work to increase the loan portfolio made it possible to increase the balance of loan debt. Let's analyze the percentage of plan completion for the balance of loan debt (Table 9).

For the 1st quarter of 2009, the total balance of loan debt amounted to 55,000 thousand rubles against the plan of 55,050 thousand rubles, i.e. the plan was underfulfilled by 0.1 and amounted to 99.9%. Including the balance of loan debt of legal entities amounted to 21,200 thousand rubles against the plan of 20,050 thousand rubles, the percentage of plan completion was 105.7% (the plan was exceeded by 5.7%). The balance of loan debt of individuals amounted to 33,800 thousand rubles. with a plan of 35,000 thousand rubles, i.e. the plan was underfulfilled by 3.4% (amounted to 96.6%).

For the 2nd quarter of 2009, the total balance of loan debt amounted to 62,420 thousand rubles. with a plan of 63,100 thousand rubles, the plan was underfulfilled by 1.1%, i.e. amounted to 98.9%. For individuals, the balance of loan debt is 37,620 thousand rubles, with a plan of 39,000 thousand rubles, the percentage of plan fulfillment is 96.5% (the plan was underfulfilled by 3.5%). The balance of loan debt for legal entities is 24,800 thousand rubles, with a plan of 24,100 thousand rubles, the plan was exceeded by 2.9%. For the 3rd quarter of 2009, the total balance of loan debt amounted to 70,250 thousand rubles (against the plan of 65,200 thousand rubles),

The percentage of plan completion was 107.8%, incl. the balance of loan debt for legal entities is 26,520 thousand rubles, with a plan of 25,200 thousand rubles. (the plan was exceeded by 5.2%), the balance of loan debt for individuals is 43,730 thousand rubles, with a plan of 40,000 thousand rubles. The plan was exceeded by 9.3% and amounted to 109.3%. For the 4th quarter of 2009 the balance of loan debt amounted to 76,990 thousand rubles (with a plan of 75,000 rubles). The percentage of plan completion was 102.7%, incl. the balance of loan debt for individuals amounted to 49,610 thousand rubles with a plan of 48,000 rubles (the plan was exceeded by 3.4%), the balance of debt for legal entities amounted to 27,370 thousand rubles with a plan of 27,000 rubles (the plan was exceeded by 1.4%).

Table 9. Percentage of plan fulfillment for the balance of loan debt in 2009. thousand roubles.

1 sq. 2009

% completed

2 sq. 2009

% completed

3 sq. 2009

% completed

Balance of loan debt of legal entities

Balance of loan debt of individuals

Total balance of loan debt:

Let us analyze, for example, the change in the total balance of loan debt during 2009.

Overdue debt in the department as of 01/01/2010 amounted to 42,603 rubles, which is 258,600 rubles. less than on September 1, 2009 (301,203 rubles), by 362,999 rubles. less than as of 04/01/2009 (406,602 rubles) and 1,025 rubles less than in the 1st quarter of 2009 (43,528 rubles). The share of overdue debt in the branch's loan portfolio is 0.1% as of January 1, 2010.

The diversion of funds into assets that do not generate income (non-performing assets) has a negative impact on the financial result. A comparative analysis of non-performing assets is presented in (Table 11).

Table 10. Comparative analysis of non-performing assets, thousand rubles.

			Deviation
Overdue loan debt
Funds in cash and correspondent account
Accounts receivable
Capital expenditures
Future expenses
Total non-performing assets
Branch assets
Share of non-performing assets in total the amount of the branch's assets

The decrease in the share of non-performing assets in total assets from 7.9% (as of 01/01/2009) to 5.6 (as of 01/01/2010) occurred solely as a result of capital expenditures, which were not made during these periods.

From Table 10 it is clear that the largest part of non-performing assets consists of funds in cash and in the correspondent account 66.34% as of 01/01/2009. and 62.51% as of 01/01/2010. In second place are deferred expenses, which amount to 28.72% as of 01/01/2009. and 27.81% as of 01/01/2010 in the total volume of non-performing assets. Overdue loans – 3.49% and 9.22%, respectively. A small share of the total volume of non-performing assets is accounted for by accounts receivable - 1.4% as of 01/01/2009 and 0.4% as of 01/01/2010.

Profit is an indicator of the bank’s performance. Bank profit is important for all participants in the economic process. Shareholders are interested in profits, because it represents income on investment capital. Profits benefit depositors because by increasing bank reserves and improving the quality of services, a stronger, more reliable and more efficient banking system is created.

In general, the amount of profit depends on 3 global components: income, expenses, taxes and other obligatory payments of the bank. In accordance with this, the model for the formation and, to a certain extent, use (spending) of profit can be schematically presented as follows (Figure 1).

Picture 1. General scheme formation of bank profit

INCOME FROM PASSIVE OPERATIONS

INCOME FROM ACTIVE OPERATIONS

(operating income (interest + non-interest) + other income)

OPERATING EXPENSES (interest + non-interest)

OTHER EXPENSES

PROFIT (NET INCOME)

Making a profit is one of the main goals of the functioning of commercial banks, since the solution of most of the most important tasks facing them, such as increasing the amount of equity capital, replenishing reserve funds, and financing capital investments.

Most of the bank's profit comes from the difference in interest charged to customers and paid to them on banking transactions, as well as through commission fees for services provided.

Profit analysis in commercial banks is carried out in the following areas:

· assessment of the level of profit achieved by the bank during the reporting period;

· dynamic profit analysis;

· analysis of balance sheet profit;

· analysis of net profit;

· profitability of the main directions banking and types

operations performed by the bank;

· analysis of profit in the context structural divisions jar;

· analysis of financial losses;

· analysis of lost profits;

· analysis of the use of profits.

For 2009, the Primorsky branch received a profit in the amount of 6,281 thousand rubles. This occurred as a result of an increase in the share of the loan portfolio in the total share of the income structure (56.3%), as well as as a result of an increase in the share of commission income (32.1% in the total income structure.

Central to the analysis financial results commercial banks belong to the study of the volume and quality of income they receive, since they, in turn, are the main factor in generating the profit of credit institutions.

A decline in revenue is generally an objective indicator of a bank's imminent financial difficulties. It is these circumstances that determine the importance of analysis of total income in the study of the financial results of a bank.

When analyzing the structure of income, they are usually divided into interest and non-interest income.

Interest income is accrued and received interest on loans in rubles and foreign currency.

Interest income includes:

· income from issuing loans to legal entities;

· income from issuing loans to the population;

· income from issuing loans in foreign currency;

Non-interest income:

· commission received for services provided by the bank to legal entities;

· commission received for services provided by the bank to the population;

· income from foreign exchange transactions;

· income from transactions for the purchase and sale of precious metals and securities;

· income from non-banking activities (fines, penalties, penalties received).

In 2009, the department earned income in the amount of 10,959.0 thousand rubles, which is 6,560 thousand rubles more than in 2008. Of these, 6,789 thousand rubles are interest-bearing, and 4,399 thousand rubles are non-interest bearing.

Below, in Table 11, is a comparative analysis of the income structure.

As can be seen from Table 11, as a result of the asset structure that developed in the reporting period, income from loans to individuals and legal entities is the main source of formation of the department’s revenue base. As of 01/01/2010, income from lending received 6,169 thousand rubles, which is almost 2.6 times higher than last year’s level (as of 01/01/2009 - 2,393 thousand rubles), including 3,594 thousand from lending to individuals. rubles and from lending to legal entities 2575 thousand rubles. The share as of 01/01/2010 is 56.3% versus 54.3% as of 01/01/2009.

Table 11. Analysis of income structure, thousand rubles

	Fact as of 01.01.	Ud. weight, %	% completed	Fact as of 01.01.	Ud. weight, %	Growth rate, %

From securities transactions
From lending to legal entities
From lending to individuals
From the redistribution of credit resources
Realized exchange rate difference
Exchange rate difference from revaluation of balance sheet accounts
Income received from commission collection
Other income

In second place are the income received from the collection of commissions. If as of 01/01/2009 the income received from collecting the commission was received in the amount of 1,222 thousand rubles, then as of 01/01/2010 the department received income in the amount of 3,538 thousand rubles. The growth rate was 258.5%.

Income from transactions with securities in the overall income structure increased by 361 thousand rubles (as of 01/01/2009 - 256 thousand rubles) and amounted to 01/01/2010 -620 thousand rubles. The growth rate was 242.2%.

There was also an increase in income from realized exchange rate differences by 130 thousand rubles, and from the revaluation of balance sheet accounts by 20 thousand rubles. Other income increased by 65 thousand rubles.

At the same time, there is a decrease in income from the redistribution of credit resources by 111 thousand rubles (as of 01/01/2009, income amounted to 317 thousand rubles, as of 01/01/2010, income amounted to 206 thousand rubles, a decrease of 35%).

When analyzing total expenses, as well as bank income, it is necessary to proceed from dividing them into interest and non-interest.

Interest expenses typically make up the majority of expenses. They include:

· interest on deposits of the population;

· interest on accounts of organizations and deposits of legal entities;

· interest on certificates and certificates of deposit;

Non-interest (operating) expenses include:

· labor costs;

· commission expenses;

· operating costs;

· and etc.

Bank operating expenses are easier to control and analyze, since most of them (labor costs, operating expenses) are relatively constant and quite predictable. The department's expenses as of 01/01/2010 (4,678 thousand rubles) compared to 01/01/2009 (2,935 thousand rubles) increased by 1,743 thousand rubles.

Below, in table 12, is a comparative analysis of the cost structure.

Table 12. Analysis of the cost structure, thousand rubles

	Fact as of 01.01.	Ud. weight, %	% completed	Fact as of 01.01.	Ud. weight, %	Growth rate, %

For deposits of legal entities
For deposits of individuals
Contributions to the RVPS

Labor costs

Commissions paid
Other expenses

As can be seen from the table, the largest part in the overall structure of expenses is occupied by labor costs. As of 01/01/2009 the share in the overall structure of expenses was 31.4% (921 thousand rubles), as of 01/01/2010, labor costs increased by 695 thousand rubles, the share was 34.5%, the growth rate was 175.5%. Expenses on deposits of individuals as of January 1, 2009 amounted to 636 thousand rubles or 21.7% of the total expense structure. As of 01/01/2010 -864 thousand rubles, the growth rate was 135.9%.

Financial resources of organizations (enterprises)- this is a set of sources of funds accumulated (attracted) by enterprises for (carrying out economic, entrepreneurial) formation (financing) of the assets they need in order to carry out all types of activities, both from their own income, savings and capital, and from outside receipts.

By sources of formation financial resources are divided for 3 groups(Fig. 1.2):

I. financial resources generated at the expense of own and equivalent funds 1) profit from core activities, profit from the sale of retired property, profit from non-operating operations, 2) depreciation charges, 3) receipts from the founders when forming the authorized capital, 4) additional shares and other contributions, 5) stable liabilities (stable accounts payable) and etc.);

II. financial resources generated through borrowed funds (funds from the issue (issue) and sale of bonds, 1) bank loans, 2) loans from legal entities and individuals, factoring, financial leasing, etc.);

III. financial resources coming in order of redistribution (insurance compensation, funds received from concerns, associations, budget funds, etc.).

In its turn, own financial resources are formed due to internal and external sources. Among internal sources, the main place belongs to the profit remaining at the disposal of the enterprise, which is distributed by decision of the Constituent (governing) body for the purposes of consumption and accumulation. Moreover, profit is the main source of replenishment of the enterprise's equity capital. If the enterprise is unprofitable, then equity capital is reduced by the amount of losses received.

An important role in the composition own internal sources Depreciation charges also play a role, which represent the monetary expression of the cost of depreciation of fixed assets and intangible assets. They do not increase the amount of equity capital, but are a means of reinvesting it.

Other forms of equity capital includes income from leasing property, settlements with founders, etc.

Among external sources of formation of own financial resources, the main role belongs to the additional issue of shares, through which the share capital of the enterprise is increased, as well as the attraction of additional share capital (mutual fund) through additional contributions of funds (share contributions) (Fig. 1.3).

As part of external own financial resources, it is necessary to highlight some funds of enterprises, which previously in Russia belonged to sustainable liabilities(in world practice, similar funds of funds are called accrual accounts). Stable liabilities are borrowed funds that do not belong to a given organization, but are constantly in its circulation. These funds, in the amount of the minimum balance, are used as a source for the formation of working capital of organizations.

At all involved funds- These are funds that do not belong to the enterprise, but, unlike borrowed funds, are not formalized in special credit agreements and are used, as a rule, free of charge. Essentially, this is a stable accounts payable: a carryover minimum debt for wages and contributions to extra-budgetary funds; minimum debt on reserves to cover upcoming expenses and payments; minimum debt to the budget for taxes, etc. The formation of these funds is caused by the fact that between the moment of receipt of funds intended for the above payments and the fixed (either agreement or law) day of payment there is a certain number of days during which the specified funds are already in circulation of the organization, but are not spent for their intended purpose.

In a market economy, the production and economic activity of an enterprise is impossible without the use borrowed money.

Attraction borrowed money into the turnover of an organization (enterprise), subject to their effective use, allows it to increase the volume of business transactions, increase income, and increase the return on equity capital, since under normal conditions borrowed funds are a cheaper source compared to its own financial resources. In addition, attracting borrowed funds allows owners and financial managers to significantly increase the volume of controlled financial resources, i.e., expand the investment capabilities of the enterprise.

However, in a situation where the amount of debt servicing costs exceeds the amount of additional income from the use of borrowed funds, a deterioration in the financial situation of the enterprise is inevitable.

To funds received through redistribution, as already noted, include insurance compensation for risks that have occurred; funds coming from concerns, associations, parent companies; dividends and interest on securities of other issuers. As for budget funds, they can be used both on a repayable and non-refundable basis.

As a rule, they are allocated from budgets of various levels to finance government orders, individual investment programs or as short-term financial state support organizations whose products are of national economic importance.

Meanwhile attracting financial resources from various sources has a number of limitations: 1) organizational and legal, 2) macroeconomic, 3) investment, 4) financial and analytical.

To restrictions of an organizational and legal nature include legislatively established requirements for the size and procedure for the formation of individual elements of the company’s own and borrowed capital: the lower limit of the amount of the authorized capital; the amount of reserve capital; limits of placement of preferred shares, corporate bonds. Organizational and legal restrictions also include control over the management of the company. This applies primarily to joint stock companies. By attracting financial resources through an additional issue of shares, the company changes the financial structure of the capital and the management structure of the company itself.

In number macroeconomic restrictions includes: (investment climate in the country, country risk, state monetary policy, current tax system, refinancing rate, inflation rate).

The formation of financial resources of organizations is associated with an assessment of the combination of the interests of the latter with the interests of investors and creditors, i.e. they act investment restrictions. Interaction with a financial investor is characterized, first of all, by maintaining the current management structure in the organization, a medium-term investment horizon and his interest in making a profit, as a rule, at the end of the investment period. At the same time, a strategic investor takes an active part in the management of the enterprise, is not limited to specific investment terms, and is aimed at obtaining a significant part of the business.

Finally, the group financial and analytical restrictions includes indicators on the basis of which the impact of the process of changing the financial structure on the financial position of the company is assessed - capital structure coefficients (they will be discussed in Chapter 3 of the textbook).

The use of financial resources of enterprises is carried out in the following main areas:

ü financing (core activities) costs of production and sales of products, works, services;

ü financing the investment activities of the enterprise (real, i.e. .... and financial investments, i.e. ....);

ü payments to the budget and extra-budgetary funds;

ü repayment of loans and borrowings (+ payment of interest on them);

ü financing of charitable activities, etc.

The formation and use of financial resources are mediated (carried out) cash flows by three types of activities organization (enterprise): 1) current (current), 2) investment, 3) financial.

home » Useful » Formation of financial resources at the enterprise. Formation and use of financial resources of enterprises Formation and use of financial resources