2.1 Estimated indicators of the property status of the enterprise

The analysis is carried out according to the balance sheet (Appendix 1) using one of the following methods:

Analysis directly on the balance sheet without first changing the composition of balance sheet items;

A compacted comparative analytical balance is built by aggregating some elements of balance sheet items that are homogeneous in composition;

An additional adjustment of the balance sheet for the inflation index is made, followed by the aggregation of items in the required analytical sections.

Directly from the analytical balance sheet, you can get a number of the most important characteristics of the financial condition of the organization. The following indicators must be included in the number of studied indicators (Table 1):

The total value of the organization's property, equal to the sum of sections 1 and 2 of the balance sheet (line 190 + line 290).

Total we get: at the beginning of the reporting period 128260+190409=318669 (thousand rubles)

At the end of the reporting period 129520+193099=322619 (thousand rubles)

It can be concluded that at the end of the reporting period, the total value of the company's property increased by 3950 thousand rubles.

The cost of immobilized (non-current) funds (assets), equal to the total of section 1 of the balance sheet (p. 190), i.e. at the beginning of the reporting period 128260, and at the end - 129520.

The cost of mobile (current) funds, equal to the total of the 2nd section of the balance sheet (p. 290): 190409 - at the beginning of the reporting period, 193099 - at the end of the reporting period.

Cost of material circulating assets (p. 210+220). We get: at the beginning of the reporting period - 115134+4042=119176, at the end - 121277+789=122066. the conclusion is as follows: the value of tangible assets by the end of the reporting period increased by 2890 thousand rubles.

The amount of the organization's own capital, equal to the total of the 3rd section of the balance sheet (p. 490). That is, at the beginning of the reporting period 201789, and at the end - 206190 thousand rubles. There was an increase of 4401 tons.

The amount of borrowed capital equal to the sum of the results of sections 4 and 5 of the balance sheet (lines 590+690). We get at the beginning of the period 7822+109049=116871, at the end of the reporting period 7075+109354=116429 thousand rubles.

The amount of own funds in circulation, equal to the difference between the results of sections 3 and 1 of the balance sheet (pp. 490-190). As a result, at the beginning of the reporting period 201789-128260=73529, at the end - 206190-129520=76670 thousand rubles.

Working capital equal to the difference between current assets and current liabilities (total of section 2, p. 290-total of section 5, p. 690), i.e. at the beginning of the reporting period 190409-109049 \u003d 81360 thousand rubles, at the end of the period - 193099-109354 = 83745 thousand rubles.

Table 1

Estimated indicators of the property status of the enterprise

Indicator	At the beginning otch. period t.r.	At the end of the report period t.r.	TR change
The total value of the property of the organization (line 190 + line 290)
Cost of non-current assets (line 190)
Value of current assets (p. 290)
The cost of material circulating assets (p. 210+220)
Equity of the organization (p. 490)
Borrowed capital of the organization (lines 590+690)
Own funds in circulation (pp. 490-190)
Working capital (total of section 2, p. 290-total of section 5, p. 690)

Table 1 shows that the total value of the organization's property, the value of current and non-current assets at the end of the year increased. Equity capital also increased. These are undoubtedly positive factors, indicating that the economic power of the organization is growing, it is developing, and its capitalization is increasing. This is confirmed by the decrease in borrowed capital at the end of the year.

Analysis directly on the balance sheet is a rather laborious and inefficient business. The condensed comparative analytical balance is more useful and covers many important indicators, the scheme of its construction is shown in Table 2. This analysis includes indicators from both horizontal and vertical analysis.

Analyzing the comparative balance, it is necessary to pay attention to the change in the share of the value of own working capital in the value of property, to the ratio of the growth rates of receivables and payables. With stable financial stability, the organization should increase the share of its own working capital in dynamics, the growth rate of equity capital should be higher than the growth rate of borrowed capital, and the growth rates of receivables and payables should balance each other.

As we can see from the data in Table 3, during the reporting period, the property of the organization increased by 3950 thousand rubles. or by 1.2%, including due to an increase in the volume of fixed capital - by 1260 thousand rubles, or 0.98%, and an increase in working capital - 2690 thousand rubles, and cash and short-term financial investments, on the contrary, decreased by 2022 thousand rubles. The data in column 10 of Table 3 show by what means and to what extent the value of the organization's assets has changed.

In general, it should be noted that the structure of total assets is characterized by a significant excess in their composition of the share of working capital, which amounted to almost 70%, slightly (0.1%) increasing during the year.

The passive part of the balance is characterized by the prevailing share of own sources of funds, and their share in the total volume increased by 0.6% during the year. The share of own funds in turnover increased by 0.7%, which also positively characterizes the organization's activities.

The structure of borrowed funds underwent a number of changes during the reporting period. Thus, the share of accounts payable to suppliers, etc. increased by 6.5%, and if we examine the balance sheet by item, we will see that an increase in debt is observed in all positions of accounts payable.

The next analytical procedure is vertical analysis - the presentation of the financial report in the form of relative indicators. This representation allows you to see the share of each balance sheet item in its total. A mandatory element of the analysis is the time series of these values, through which you can track and predict structural changes in the composition of assets and their sources of coverage.

Thus, two main features of vertical analysis can be distinguished (Table 3):

The transition to relative indicators allows for a comparative analysis of the organization, taking into account industry specifics and other characteristics;

Relative indicators smooth out the negative impact of inflationary processes, which significantly distort the absolute indicators of financial statements and thus make it difficult to compare them in dynamics.

Vertical analysis allows us to draw the following conclusion: the share of equity increased by 0.6 percentage points and is over 60% of the balance. The organization's borrowed capital accounted for 36.1% by the end of the year, which is 0.6 percentage points less than at the beginning of the year. The share of borrowed capital decreased mainly due to the reduction in the share of long-term and short-term loans. In general, the capital of the organization in the reporting year was formed from its own sources.

2.2 Informative indicators of the property status of the organization

The most informative indicators The property status of the enterprise can be seen in Table 4.

Table 4

The most informative indicators of the property status of the enterprise.

Indicator	Beginning otch. period	End of report period	Change
The amount of controlled funds (pp. 300-244)
Net asset value CHA \u003d (VA + (OA-ZU)) - (DO + (KO-DBP))
The share of non-current assets in the balance sheet (line 190:300)
Share of the active part of fixed assets (line 300:120)

Based on the data in Table 4, the following conclusions can be drawn:

The amount of funds controlled by the firm(the amount of economic assets on the balance sheet of the enterprise) = total assets on the balance sheet - the debt of the founders for contributions to the authorized capital p. 300-244). We get 318669-0=318669 - at the beginning of the report. period, 322619-0=322619 - at the end of the report. period. This indicates an increase in the economic power of the enterprise.

The value of the firm's net assets. This indicator characterizes the valuation of the company's property after the formal or actual satisfaction of all the requirements of third parties.

CHA \u003d (VA + (OA-ZU)) - (DO + (KO-DBP)),

VA - non-current assets (p. 190)

OA-current assets (p. 290)

ZU - debt of the founders on contributions to the UK (p. 244)

DO - long-term liabilities (line 590)

KO- short-term liabilities (line 690)

DBP - deferred income (p. 640)

NA \u003d (128260 + (190409-0)) - (7822 + (109049-3923)) \u003d 318669-112948 \u003d 205721 tr.- the beginning of the reporting period;

NA \u003d (129520 + (193099-0)) - (7075 + (109354-2867)) \u003d 322619-113562 \u003d 209057 tr.- the end of the reporting period.

This indicates an increase in net assets at the end of the reporting year.

The share of non-current assets in the balance sheet.

Calculated by dividing the valuation of non-current assets to the total assets of the firm (p. 190:300). Shows what share of the total amount of funds invested in the enterprise from all sources is deadened in long-term assets, because investments in non-current assets cannot be withdrawn for use in current activities.

128260:318669=0.403 at the beginning of the report period, 129520:322619=0.402 at the end of the report. period. There is a normal situation when there is no steady growth of this ratio, which means that the share of non-current assets is sufficient to carry out activities.

The share of the active part of fixed assets.

We find it as follows: we divide the cost of the active part of the balance by the cost of fixed assets (p. 300:120). That is, we get 318669: 116258 = 2.741 - at the beginning. otch. period, 322619:107362=3.005 - at the end of the report. period. The growth of the coefficient is regarded as a favorable trend.

2.3 Coefficients of the property potential of the firm

A generalizing indicator of the effectiveness of the use of fixed assets is the return on assets:

where S is the average initial (replacement) cost of fixed assets; N - release of finished products.

Another indicator of the efficiency of the use of fixed assets is capital intensity:

The change in capital intensity shows an increase or decrease in the value of fixed assets by 1 rub. finished products and is used in determining the amount of relative savings or cost overruns in fixed assets. The amount of relative savings (overspending) of fixed assets is determined by the formula:

E rel (S) \u003d (F e 1 - F e 0) N 1.

The ratio of the growth rate of the value of fixed assets and the growth rate of output volume allows us to determine the limiting indicator of capital intensity, i.e. increase in fixed assets by 1% increase in production. If the capital intensity limit is less than one, there is an increase in the efficiency of the use of fixed assets and an increase in the utilization rate of production capacity.

Consider the impact of indicators of capital productivity and capital intensity on the change in output according to the analyzed enterprise (table 25). The increase in capital productivity is due to the excess of the growth rate of output over the growth rate of the average annual cost of equipment. the growth rate of fixed assets is 294.6%, while the growth rate of production is 306.4%. For each percentage increase in fixed assets, the increase in output is 1.06 points (206.4/194.6).

The increase in the volume of output is determined by the influence of the expansion of production potential - in the amount of 406619.75 thousand rubles. (337035 * 1.206) and an increase in the efficiency of its use in the amount of 24655.25 thousand rubles (0.048 * 510215). Total influence: 406619.75 + 24655.25 = 431275 thousand rubles.

The share of the influence of the expansion of fixed assets on the volume of output is 0.943 (406619.75/431275). The share of the impact of capital productivity is 0.057 (24655.25 / 431275).

The existing ratio of two factors to the volume of output serves as a prerequisite for the growth of production profitability. A decrease in the capital intensity of products indicates the presence of a relative savings in funds invested in fixed assets. The amount of relative savings will be:

(0.797 - 0.829) * 640210 \u003d - 20436.01 thousand rubles.

Table 25

Indicators of the use of fixed assets

The main factor in saving money invested in fixed assets is the growth of capital productivity.

Increasing return on assets contribute to:

§ mechanization and automation of production, use of advanced technology, modernization of existing equipment;

§ increasing the operating time of the equipment;

§ increasing the intensity of equipment operation;

§ increase in the share of the active part of fixed assets;

§ increase in the share of operating equipment.

The degree of involvement of available equipment in production and its use in production is characterized by the following indicators:

If the value of the indicators is close to one, then the equipment is used with a high degree of utilization, and the production program corresponds to the production capacity.

To assess the load of equipment, the following time balance indicators are determined (Table 26):

Table 26

Indicators characterizing the fund of equipment use time

The level of the whole-shift use of equipment characterizes the shift coefficient K cm:

where T r.cm - actually worked out number of machine-shifts for the period; T max - the maximum possible number of machine-shifts worked out by the installed equipment in one shift of the same period.

The degree of intra-shift use of equipment characterizes the equipment load factor K z:

The degree of use of nominal time is measured by the ratio of the effective fund to the nominal:

The analysis of cause-and-effect relationships in the factor system of capital productivity allows us to build several variants of deterministic factor models. The simplest of them: the model of the dependence of the return on assets of fixed assets (F o) on the return on assets of the active part of fixed assets (F a) and the specific weight of the active part (D a):

F o \u003d F a * D a,

as well as the model of the dependence of the capital productivity of fixed assets on the capital productivity of existing machinery and equipment (F o d), the share of the active part in the cost of fixed assets (D a) and the share of operating equipment in the active part (D d):

F o \u003d F o d * D a * D d.

To analyze the factors influencing the rate of return on assets, the factor model of the return on assets of existing equipment is transformed as follows:

Thus, the factorial model of capital productivity of fixed assets will take the form:

F o \u003d D a * D d * K cm * K s * T dn * t cm * V h * 1 / s d.

Based on the data in Table 27, we determine the return on assets of existing equipment and the return on assets of fixed assets using a factor model:

Check the results with the original formula:

Table 27

Data for calculating return on assets

Then we will calculate the influence of factors using the chain substitution method:

1. Change in capital productivity due to a change in the share of the active part of fixed assets:

DF o (D a) \u003d F o d * DD a * D 0 d \u003d 3.043 * 0.1488 * 0.8037 \u003d 0.3639 rubles / rub.

2. Change in capital productivity due to a change in the share of existing equipment:

DF o (D d) \u003d F o d * D 1 a * DD d \u003d 3.043 * 0.6422 * 0.0232 \u003d 0.0453 rubles / rub.

3. Change in the return on assets of fixed assets under the influence of changes in the return on assets of existing equipment:

DF o (F o d) \u003d DF o d * D 1 a * D 1 d \u003d - 0.68 * 0.6422 * 0.8269 \u003d - 0.3611 rubles / rub.

The total influence of the factors will be: 0.3639 + 0.0453 - 0.3611 = 0.0481.

The results of the calculations are summarized in Table 28. The growth in return on assets is due to positive changes in the composition of fixed assets, but is limited by a decrease in the return on assets of existing equipment.

Let us calculate the influence of factors on the change in the return on assets of existing equipment.

1. Change in return on assets under the influence of changes in shift work:

DF o d (K cm) \u003d DK cm * K 0 s * T 0 days * t 0 cm * V 0 h * 1 / s 0 d,

DF o d (K cm) \u003d 0.23 * 0.684 * 305 * 8 * 6.019 * 1 / 6867 \u003d 0.3364 rubles / rub.

2. Change in return on assets under the influence of changes in the load of equipment (efficiency in the use of working time during the shift):

DF o d (K s) \u003d K 1 cm * DK s * T 0 days * t 0 cm * V 0 h * 1 / s 0 d,

DF o d (K s) \u003d 2.31 * 0.014 * 305 * 8 * 6.019 * 1 / 6867 \u003d 0.0692 rubles / rub.

3. Change in capital productivity as a result of a change in the average hourly output of a piece of equipment:

DF o d (V h) \u003d K 1 cm * K 1 s * T 0 days * t 0 cm * DW h * 1 / s 0 d,

DF o d (Vh) \u003d 2.31 * 0.698 * 305 * 8 * (- 0.59) * 1/ 6867 \u003d - 0.3405 rubles / rub.

4. Change in capital productivity as a result of a change in the average cost of a piece of equipment:

DF o d (s d) \u003d K 1 cm * K 1 s * T 0 days * t 0 cm * V 1 h * [ 1 / s 1 d - 1 / s 0 d ],

DF o d (s d) \u003d 2.31 * 0.698 * 305 * 8 * 5.424 8 (1/9030.67 - 1/6867) \u003d - 0.7446 rubles / rub.

The duration of the shift and the number of working days do not affect the return on assets, as they are taken unchanged. The cumulative impact of all factors on the change in the return on assets of existing equipment will be:

DF o d \u003d 0.3364 + 0.0692 - 0.3405 - 0.7446 \u003d - 0.6795 rubles / rub.

The results of the calculations are summarized in Table 28. An increase in the coefficients of shifts and loading of equipment indicates a decrease in the loss of working time (all-day and intra-shift downtime), which has a positive effect on the change in the return on assets of equipment. As a result of the increase in equipment utilization, the return on assets increased by 0.4056 rubles/ruble. (0.3364 + 0.0692).

The return on assets was negatively impacted by a decrease in the average hourly production of equipment and an increase in the average cost of a piece of equipment.

The cumulative influence of the second level factors on the return on assets is calculated as the product of the size of the influence of the return on assets of the operating equipment and the share of the influence of each factor of the second level, i.e. share method.

The ratio of the size of the influence of each factor to the size of the deviation of capital productivity of fixed assets shows the share of the influence of each factor on the deviation of the aggregate indicator. As can be seen from Table 28, the most significant negative impact on the return on assets was caused by an increase in the average price of a piece of equipment and a decrease in the productivity of a piece of equipment. These factors have a multidirectional effect on capital productivity: an increase in the average price of equipment, as a rule, indicates an increase in equipment productivity, and vice versa.

Table 28

Influence of factors on capital productivity of fixed assets

The property status of the enterprise is manifested in the solvency of the enterprise, in the ability to meet the payment requirements of suppliers in accordance with business contracts, repay loans, pay salaries, and make payments to the budget.

The property of an enterprise is what it owns: fixed capital and working capital, expressed in cash and reflected in the independent balance sheet of the enterprise.

The assessment of the property status of the enterprise is based on the analysis of the following indicators:

The amount of economic funds at the disposal of the organization

This indicator (Rs) gives a generalized valuation of the assets on the balance sheet of the enterprise. This is an accounting estimate that does not match the total market value of the company's assets. The growth of this indicator indicates an increase in the property potential of the enterprise:

Rs \u003d A - U - Ak - Du

Where,
A - total assets on the balance sheet;
Y - losses;
Ak - own shares in the portfolio;
Du - the debt of the founders on contributions to the authorized capital.

Simplified, the amount of economic funds at the disposal of the enterprise can be represented as the sum of the assets of the enterprise at the end of the reporting period.

O.V. Grishchenko (Analysis and diagnostics of the financial and economic activities of an enterprise: Textbook. Taganrog: Publishing House of TRTU, 2000) believes that when determining the indicator, the balance sheet total (assets) should be reduced by the amount of own shares bought back from shareholders and the amount of debt of participants ( founders) on contributions to the authorized capital.

Share of fixed assets in assets

The indicator is a generalizing result of the structural analysis and characterizes the degree of capitalization of assets in the fixed assets of the enterprise.

Share of fixed assets in assets = Cost of fixed assets / Balance total (balance currency)

The higher the value of the share of fixed assets in assets, the better the enterprise is provided with the equipment, buildings, structures and other assets necessary for the production and sale of goods and services, which are used for a long period of time.

Therefore, any increase in this indicator indicates either an expansion or modernization of financial and economic activities. While the reduction in the share is not always characterized as a negative trend.

Share of the active part of fixed assets

Shows what part of the total cost of existing fixed assets is their active (participating in the production) part. The active part of fixed assets is machinery, equipment and vehicles. The growth of this indicator in dynamics is usually regarded as a favorable trend.

Share of the active part of fixed assets = Cost of the active part of fixed assets / Cost of fixed assets

Depreciation rate of fixed assets

It characterizes the share of the value of fixed assets written off to expenses in previous periods. It is usually used in the analysis as a characteristic of the state of fixed assets.

Depreciation rate of fixed assets = Depreciation of fixed assets (depreciation) / Initial cost of fixed assets

Note that the indicator is somewhat arbitrary. The reason for this is the dependence of the coefficient on the depreciation method used by the enterprise, i.e. the ratio does not show the physical depreciation of fixed assets, the indicator, like the shelf life ratio, does not give an accurate assessment of the current state of the company's fixed assets.

A wear factor value greater than 50% is undesirable. A more objective assessment of this indicator can be obtained by comparing its value for a particular enterprise with the industry average value.

Depreciation coefficient of the active part of fixed assets

This indicator characterizes the degree of depreciation of fixed assets directly involved in the production process.

Depreciation ratio of the active part of fixed assets = Depreciation of the active part of fixed assets / Initial cost of the active part of fixed assets

Fixed asset renewal ratio

Shows what part of the fixed assets available at the end of the reporting period are new funds.

Renewal factor \u003d Initial cost of fixed assets received during the period / Initial cost of fixed assets at the end of the period

With the help of this coefficient, it is possible to determine at what stage of the life cycle the enterprise in question is located: if the value of the coefficient takes a value less than one, then the enterprise is at the stage of reducing the industry, if more than one - at the stage of expanded reproduction, when enterprises are interested in updating the production base.

The decrease in the renewal coefficient is a negative factor and indicates a trend towards a decrease in the organization's equipment with fixed assets

Fixed assets retirement rate

Shows what part of the fixed assets with which the company began operations in the reporting period, retired due to dilapidation and other reasons.

Disposal rate = Initial cost of fixed assets retired during the period / Initial cost of fixed assets at the beginning of the period

A decrease in the value of fixed assets may occur as a result of disposal due to dilapidation and wear, sale, transfer to the balance sheet of other enterprises, depreciation of fixed assets, long-term lease.

If the retirement rate exceeds the renewal rate, then this is assessed negatively, as it indicates the absence of technical re-equipment of the enterprise

The balance of fixed assets (fixed assets) looks like an equality:

He + P \u003d B + Ok

• He– availability of fixed assets at the beginning of the reporting period
• P- the receipt of fixed assets during the period
• IN– disposal of property, plant and equipment during the period
• OK

The balance of fixed assets may contain clarifying categories: overhaul, increase / decrease in the cost of fixed assets as a result of revaluation and their disposal due to dilapidation:

He + Pp + K + D \u003d Vp + U + Sun + Ok

• He
• Pp
• TO
• D
• Vp
• At
• Sun
• OK- availability of fixed assets at the end of the period.

In this case, all elements of equality are given at the initial cost of fixed assets. The balance sheet of fixed assets at historical cost is closely related to the balance sheet at their cost, taking into account depreciation:

(He - Ying) + Pp + K + D - I \u003d Vp + U + Sun - Iv + (Ok - Ik)

• He– availability of fixed assets at the beginning of the period
• Ying- the amount of depreciation that falls on the balance of fixed assets at the beginning of the period
• Pp- the receipt of fixed assets as a result of the purchase
• TO- the cost of the overhaul (reconstruction, modernization) carried out during the period
• D– increase in the value of fixed assets as a result of revaluation
• AND- the amount of depreciation accrued for the period (minus depreciation for retired fixed assets)
• Vp– disposal of fixed assets as a result of their sale
• At– decrease in the value of fixed assets as a result of markdown
• Sun- retirement as a result of write-off due to dilapidation (and other reasons: transfer to the MNMA or current assets, etc.)
• Yves- the amount of depreciation that falls on retired fixed assets
• OK– availability of fixed assets at the end of the period
• ik- the amount of depreciation that falls on the balance of fixed assets at the end of the period.

The residual value of fixed assets can be expressed by the formula:

Ostk \u003d Ostn + P + K - In - And

• Ostk– residual value of fixed assets at the end of the period
• Ostn- residual value of fixed assets at the beginning of the period
• P- receipt of fixed assets for the period
• TO- the cost of the overhaul (reconstruction, modernization) carried out during the period
• In- residual value of fixed assets retired during the period
• AND- the amount of depreciation accrued for the period.

In order to analyze the property status, it is advisable to draw up such balance sheets in the context of all types (groups) of fixed assets, with the allocation of their active part.

Based on the data of these balances, generalized indicators of their condition are determined - the coefficients of validity, the coefficient of disposal and the coefficient of renewal. If such balances are drawn up by groups of fixed assets, all these ratios can be determined accordingly for each group.

Working capital balance

The balance of working capital looks similar to how the simplified balance sheet of fixed assets looks like:

He + P \u003d B + Ok

• He– availability of working capital at the beginning of the reporting period
• P– receipt of working capital during the period
• IN– disposal of working capital during the period
• OK- availability of working capital at the end of the period.

In order to analyze the property status, it is advisable to draw up such balance sheets in the context of all types (groups) of working capital: for materials, finished products, goods, etc.

Determination of the average annual value of the property.

To calculate the average for the period of availability of fixed assets, a simplified approach is sometimes used - the arithmetic average method. The arithmetic mean is defined as half the sum of data on the availability of fixed assets at the beginning and end of the analyzed period. But more accurate information about the average annual cost of fixed assets is obtained in a different way.

It is advisable to calculate the average annual cost of fixed assets as a half-sum divided by 12, obtained by adding (and dividing by 2) the cost of fixed assets in force on January 1 of the reporting year and January 1 of the year following the reporting year, as well as the cost of these assets for each first the number of the remaining eleven months of the analyzed year.

The average cost of fixed assets for an interim period (quarter, six months, 9 months) is determined by dividing by the number of months of the analyzed period half of the value of fixed assets on the 1st day of the first month following the end of the period, as well as the cost of fixed assets for each 1st day other months of this period.

The average annual (and average for any intermediate period) value of standardized current assets is calculated in a similar way. Normalized current assets include: inventories, work in progress, finished products; at the same time, building materials purchased by developers for the purpose of capital construction are excluded from the stocks. Non-standardized current assets include cash and all types of accounts receivable

In some cases, if the enterprise is small and the movement of fixed assets is not so intensive, they resort to simplification in calculating the average annual cost of fixed assets. Namely, instead of the divisor 12, the divisor 4 is used, i.e., not by the number of months, but by the number of quarters in a year.

Sometimes the average annual cost of fixed assets is determined based on their average annual cost for the previous calendar year.

The average annual cost of fixed assets for the previous calendar year (if we take the simplified, "quarterly" version) is determined as the amount divided by four:

• half of the cost of fixed assets on January 1 of the previous calendar year;
• the cost of fixed assets on April 1 of the previous calendar year;
• the cost of fixed assets on July 1 of the previous calendar year;
• the cost of fixed assets on October 1 of the previous calendar year;
• half of the cost of fixed assets on January 1 of the reporting year.

What cost of fixed assets should be taken into account - initial or residual (book) - depends on the purpose for which this calculation is carried out.

So, if the average annual cost of fixed assets is calculated in order to determine the indicator return on assets, the calculation of the average annual cost of fixed assets should be based on their initial cost, because otherwise, if we take the book (residual) value for calculation, the return on assets will be simply absurd: the more worn out the OPF, the higher their profitability. The profitability of fixed assets (capital productivity) cannot increase due to their depreciation.

If the average annual cost of fixed assets is calculated in order to determine the indicator capital intensity, the calculation of the average annual cost of fixed assets can be based on both their initial and residual value, depending on the goals of the analysis being carried out - here it is impossible to give unambiguous advice.

If the average annual cost of fixed assets is calculated to determine capital-labor ratio, in contrast to the return on assets, on the contrary, it is advisable to take their balance sheet (residual) value as a base. The initial cost of worn-out objects will unreasonably overestimate the capital-labor ratio.

The main criteria for assessing the property status

1. The coefficient of usefulness of fixed assets. Shows what part of the initial cost of fixed assets is currently not worn out, in other words, has not yet been transferred to the product:

   Kg \u003d (Pst - I) / Pst

   • Kg– validity factor
   • Pst- initial cost
   • AND- wear.

   The formula for calculating the coefficient of validity can be represented differently:

   Kg = Ost / Pst

   • Kg– validity factor
   • Ost- residual value
   • Pst- initial cost.

   Since the service life coefficient with the wear coefficient are interrelated (Kg + Ki \u003d 1), the service life coefficient of fixed assets can be calculated in another way:

   Kg \u003d 1 - Ki

   • Kg– validity factor
   • Key- wear coefficient.
2. Depreciation rate of fixed assets. Shows the degree of depreciation of fixed assets, i.e. the share of the cost of fixed assets to be written off to the costs of subsequent periods:

   Ki = I/Pst

   • Key– wear factor
   • AND– wear
   • Pst- initial cost.

   And since the wear coefficient is an addition (up to 100%) to the service life coefficient, it can also be calculated as the difference between the unit and the service life coefficient:

   Ki \u003d 1 - Kg

   Both the wear factor and the service life factor are rather conditional indicators of the technical condition of fixed assets. This is due to many reasons: inflation rates, fluctuations in market prices for similar assets, a subjective approach to determining the service life, etc. However, the value of such a conditional coefficient as a depreciation coefficient above 0.5 is considered undesirable. Accordingly, the validity factor should not be lower than this value.

3. The coefficient of renewal of fixed assets. Shows what part of the fixed assets available at the end of the period are new objects:

   Ko \u003d Pstp / Pstk

   • Co.– update factor
   • Pstp- the initial cost of fixed assets received during the period
   • Pstk- initial cost of fixed assets at the end of the period

   For different groups of fixed assets (for groups of production facilities, their active part and for groups of facilities operated in the non-production sector), it is advisable to calculate individual renewal factors. It also makes sense to calculate them separately for all received groups of objects and separately for those put into operation. In the latter case, this coefficient is called input factor.

   In addition, when analyzing, it is advisable to compare the renewal factor of the active part of fixed assets with the renewal factor of all objects on the balance sheet. Thus, it becomes clear at the expense of which part the update takes place. If the renewal of fixed assets does not occur at the expense of their active part, then this may adversely affect the rate of return on assets.

   Renovation of fixed assets can occur both through the acquisition of new facilities, and through the modernization of existing ones. Therefore, in this case, the renewal coefficients should be calculated separately.

   A variation of the update factor is the automation factor:

   Ka \u003d Psta / Pst

   • Ka– automation factor
   • Psta– initial cost of automated objects
   • Pst- the initial cost of all existing fixed assets.
4. Retirement rate of fixed assets. Shows what part of the fixed assets retired during the reporting month.

   Kv \u003d Psv / Pstn

   • Kv- asset retirement ratio
   • Psv- historical cost of property, plant and equipment retired during the period
   • Pstn- the initial cost of fixed assets available at the beginning of the period

   For different groups of fixed assets (for groups of production facilities, their active part and for groups of facilities operated in the non-production sector), it is advisable to calculate separate retirement rates. It also makes sense to calculate them separately for all retired objects and separately for liquidated ones. In the latter case, this coefficient is called liquidation ratio.

   In addition, in the analysis it is advisable to compare the retirement rate of the active part of fixed assets with the retirement rate of all objects. Thus, it becomes clear at the expense of which part the disposal occurs.

5. The share of the active part of fixed assets. Shows what part of the total cost of existing fixed assets is their active (participating in the production) part:

   Yes = Psta/Pst

   • Yes– share of the active part of fixed assets (coefficient)
   • Psta- the average annual cost of fixed assets belonging to the active part
   • Pst- the cost of fixed assets available on the balance sheet (average annual).

   The share of the active part of fixed assets does not have to be calculated in the average annual value. In this case, one should take into account the balance of fixed assets at the end of the analyzed period, without calculating their average annual cost.

   The growth of this indicator in dynamics means a favorable trend.

6. Capital productivity. Reflects the profitability of the use of fixed assets involved in the production of products and shows how much of the manufactured products falls on each ruble of the value of fixed assets:

   Fo \u003d Vp / OPF

   • Fo- return on assets (profitability of production assets)
   • Vp- volume of output per year
   • OPF .

   The calculation of the average annual cost of fixed assets in determining the return on assets should be based on their initial cost, and not the balance sheet (residual). Otherwise, an absurd result will turn out: the more dilapidated the equipment is, the higher the return on assets - this should not be.

7. Capital intensity. An indicator that is the opposite of the return on assets. Shows how much on average fixed assets account for each ruble of the value of manufactured products.

   Fe \u003d OPF / Vp

   • Fe– capital intensity
   • OPF– cost of fixed production assets (average annual)
   • Vp- the volume of production for the year.

   When calculating the average annual cost of fixed assets to determine the capital intensity, it is possible to take both their initial and residual values ​​as a base, depending on the goals of the analysis.

8. capital-labor ratio. Shows the level of equipment of personnel with means of labor, its technical equipment:

   Fv \u003d OPF / Ss

   • fv– capital-labor ratio
   • OPF– cost of fixed production assets (average annual)
   • ss- the average number of employees employed in production.

   When calculating the average annual cost of fixed assets to determine the capital-labor ratio, it is advisable to take their balance sheet (residual) value as a base. The initial cost of dilapidated objects will greatly embellish the capital-labor ratio - this should not be allowed.

   We can also say that the capital-labor ratio shows job cost.

   It is advisable to analyze the capital-labor ratio both for the enterprise as a whole and in the context of production and technological processes.

   Low capital-labor ratio may indicate that the enterprise is lagging behind in the development of advanced technologies, which leads to a loss of competitiveness. The growth of capital-labor ratio is the most important factor in increasing labor productivity.

   However, one should not think that the growth of capital-labor ratio always reflects a favorable trend. There is a so-called. capital-labor ratio, and it is determined individually for each enterprise. This limit is formed depending on how much the increase in capital-labor ratio gives an increase in labor productivity. Thus, the following condition must be met:

   • ∆Fw > 0
   • ∆Pt > 0

   If, with the growth of capital-labor ratio, the increase in productivity turns out to be above zero, then the use of technical means is considered effective and the capital-labor ratio has not yet reached its limit. It should be noted that it is advisable to determine the capital-labor ratio as well as the indicator itself - not only for the whole enterprise, but also for individual industries and technological processes - which is more important. The maximum capital-labor ratio for the enterprise as a whole depends on the capital-labor ratio limit for each individual process.

   At the same time, when analyzing capital-labor ratio, it is necessary to pay attention to external factors of labor productivity growth. It is possible that the growth of labor productivity is no longer affected by the capital-labor ratio, but by the growth in productivity at enterprises in related industries or other circumstances. There are quite a lot of factors in the growth of labor productivity and one should not rush to attribute all the "merits" to the capital-labor ratio.

9. Material consumption. Shows the specific weight of the consumption of material resources per unit of output. It is measured in physical units (technological indicator), in monetary terms and as a percentage (economic indicator). The economic value of the indicator of material intensity is calculated as the share of the cost of spent material resources in the price of a unit of production:

   Me \u003d M / Vp x 100%

   • Me– material consumption
   • M- the cost of raw materials and materials used for the production of products
   • Vp- the volume of output for the analyzed period

   Thus, the material intensity shows how much material and raw material costs are for each ruble of output.

   Sometimes it is advisable to calculate the material consumption as the share of the cost of material resources in the cost of manufactured products. In this case, the denominator of the formula indicates the volume of output not in sales prices, but at its cost.

   The cost (monetary) indicator of material consumption is defined as the difference between the cost (or selling price) of a unit of production of a particular type and the cost of material and raw materials spent on its production. In this case, the averaged values ​​of these components of the formula are taken into account.

   The excess of the indicator of actual material consumption over its standard indicator indicates the presence of reserves for reducing the standard material consumption, which, in turn, indicates an increase in the profitability of production.

   Normative material consumption is set depending on the industry sector of the enterprise.

The main objectives of the factor analysis of the efficiency of the use of fixed assets:

1. Selection of factors determining the studied performance indicators.

2. Determination of the form of dependence between factors and performance indicators.

3. Calculation of the influence of factors and assessment of the role of each of them in changing the performance indicator

On the basis of the scheme, it is possible to construct a factorial model of capital productivity

FO \u003d FOa * UD (1)

where FO is capital productivity;

FOa - return on assets of the active part of fixed assets;

Luck is the share of the active part of the funds in the value of all fixed assets.

To calculate the influence of the factors of capital productivity of the active part of fixed assets and the share of the active part of funds in the cost of all fixed assets on the effective indicator of capital productivity, we use the method of chain substitutions.

Calculate the impact of changes in capital productivity of the active part of fixed assets:

FO (FOa) \u003d FOa1 * Uda0 - FOa 0 * Uda 0 (2)

where FO (FOa) - change in capital productivity due to changes in capital productivity of the active part of fixed assets;

FOa 1 - return on assets of the active part of fixed assets in 2012;

FOa 0 - return on assets of the active part of fixed assets in 2011;

Uda 0 - the share of the active part of the funds in the value of all fixed assets for 2011.

FO (FOa) \u003d (2.88 * 99.54) - (2.29 * 99.54) \u003d 286.68 - 227.95 \u003d 58.73 rubles

Then we calculate the impact of a change in the share of the active part of funds in the value of all fixed assets:

FO (UDa) \u003d FOa 1 * Uda 1 -FOa 1 * Uda 0 (3)

FO (UDa) - change in capital productivity due to changes in the active part of funds in the value of all fixed assets;

Uda 1 - the share of the active part of the funds in the value of all fixed assets for 2012

FD (UDa) \u003d (2.29 * 97.17) - (2.29 * 99.54) \u003d 222.53 - 227.95 \u003d - 5.42 rubles

FO (FOa, UDA) \u003d FO (FOa) + FO (UDa) (4)

FO (FOa, UD) \u003d 58.73 + (- 5.42) \u003d 53.31 rubles

As a result of the increase in the return on assets of the active part of fixed assets by 5.54%, the return on assets increased by 58.73 rubles. The decrease in the share of the active part of funds in the cost of all fixed assets by 2.37% led to a decrease in capital productivity by 5.42 rubles. As a result of the influence of both factors, the return on assets of all fixed production assets increased by 53.31 rubles.

When conducting a factor analysis of capital productivity, it is necessary to calculate the impact of changes in such factors as:

1) change in proceeds from the sale of products;

2) change in the average annual cost of fixed production assets.

To calculate the influence of these factors, we use the method of chain substitutions.

Calculate the impact of changes in revenue from product sales:

FO (V) \u003d V 1 / F 0 - V 0 / F 0 (5)

where FO (B) - change in capital productivity due to changes in revenue from sales of products;

B 1 - proceeds from the sale of products for 2012;

Ф 0 - return on assets in 2011;

B 0 - proceeds from the sale of products for 2011.

FO (B) \u003d (812295168 / 183677743) - (420922998 / 183677743) \u003d 4.42-2.29 \u003d 2.13 rubles

We calculate the impact of changes in the average annual cost of fixed assets:

FO (F) \u003d V 1 / F 1 - V 1 / F 0 (6)

where FO(F) - change in capital productivity due to changes in the average annual cost of fixed production assets;

F 1 - return on assets in 2012.

FO (F) \u003d (812295168 / 282424487) - (812295168 / 183677743) \u003d 2.88-4.42 \u003d -1.54 rubles

Let's calculate the total influence of both factors:

FO (V, F) \u003d FO (V) + FO (F) (7)

where FD (V, F) is the change in capital productivity due to changes in the proceeds from the sale of products and due to changes in the average annual cost of fixed production assets.

FO (V, F) \u003d 2.13+ (- 1.54) \u003d 0.59 rubles

Thus, on the basis of the calculations made, the following conclusions can be drawn: due to the change as a result of an increase in revenue from sales of products by 16.21%, the return on assets increased by 2.13 rubles, an increase in the average annual cost of fixed assets by 2.48% led to a decrease in capital productivity for 1.54 rubles. As a result of the influence of both factors, the return on assets of all fixed production assets increased by 0.59 rubles.

There is a close relationship between the return on assets from labor productivity and capital-labor ratio, presented in the factor model:

FD=PT/EF (8)

where FO is the return on assets of fixed assets;

PT - labor productivity;

FV - capital-labor ratio

To calculate the influence of the factors of labor productivity of 1 worker and the capital-labor ratio of 1 worker on the effective indicator of capital productivity, we use the method of chain substitutions.

Calculate the impact of changes in labor productivity:

FO (PT) \u003d PT 1 / PV 0 - PT 0 / PV 0 (9)

where 1 - data for 2012;

0 - data for 2011.

FD (PT) = 88041/15997 - 5616/15597= 5.141

Then we calculate the effect of capital-labor ratio:

FD (PV) = 88041/38418 - 88041/15997 = - 3.212

We check the overall influence of factors:

FD (Fri, FV) \u003d 5.141 + (-3.212) \u003d 1.929 rubles.

As a result of an increase in labor productivity by 15.68%, the return on assets increased by 5.141 rubles, an increase in the capital-labor ratio of one worker by 2.4% led to a decrease in capital productivity by 3.212 rubles. As a result of the influence of both factors, the return on assets of all OPF increased by 1.929 rubles.

Let us calculate the degree of influence on the return on assets of the following factors: changes in the share of the active part of the OPF, technical equipment and labor productivity. The calculation will be made using the method of absolute differences. original model:

FO \u003d PT * UVa * Ktv (10)

Then, the calculation of the influence of these factors will be as follows:

the impact of changes in labor productivity

FO (PT) \u003d (PT 1 - PT 0) * UVa 0 * Ktv 0 (3.13)

FD (PT) \u003d (88041-5656) * 1 * 0.0000625 \u003d 5.1516

the influence of changes in the specific gravity of the active part of the BFA

FO (UVa) \u003d PT 1 * (UVa 1 - UVa 0) * Ktv 0 (11)

FO (UVa) \u003d 88041 * (1-1) * 0.0000625 \u003d 0

the influence of the coefficient inverse to the technical capital-labor ratio

FO (Ktv) \u003d 88041 * 1 * (0.00000001351-0.0000625) \u003d - 5.5014

The total influence of factors was:

FD (PT, UVa, Ktv) \u003d 5.1516 + 0-5.5041 \u003d - 0.3498

The increase in labor productivity (+5.1515) had a positive impact on the return on assets, while the negative factors were: the growth of technical capital-labor ratio per worker (-5.5014) and the absence of the share of the active part of the OPF (0).

The return on assets of the active part of funds (technological equipment) is a complex factor that is influenced by various factors of the second and subsequent orders. Second-order factors can be: a change in the number of pieces of equipment, a change in equipment productivity. The factors of the third order include: the replacement of equipment, the introduction of measures of scientific and technological progress, social factors. According to calculations carried out on the basis of a factor analysis of changes in capital productivity of the OPF, an increase in labor productivity led to an increase in capital productivity by 5.1516 rubles. A negative impact on the return on assets was made by a decrease in the share of articles “machinery, equipment and vehicles” in the total value of the OPF. As a result, from each ruble invested in the development of fixed assets, the enterprise did not receive a single ruble. The excess of the growth rate of technical equipment over the growth rate of labor productivity also had a negative impact on the capital productivity index - led to its decrease by 5.5014 rubles.

1) strengthen control over the rational use of production capacities;

2) speed up the time to achieve the design performance of equipment;

3) apply high-speed methods of work, scientific organization of labor and production;

4) to ensure the compliance of production capacities at individual sites;

5) use progressive technological processes;

6) develop rationalization activities.