Measures to improve the financial condition of the enterprise. Proposals for improving the financial and economic activities of the enterprise Proposals for improving the financial activities of the enterprise

Based on the financial and economic analysis carried out in the first and second chapters of this WRC, a number of problems were identified that adversely affect the state of the enterprise. The primary task is to increase the efficiency of the enterprise.

To do this, it is necessary to control the status of settlements with debtors in order to minimize the risk of bad receivables. In order to increase the level of profitability, the enterprise needs to develop measures to reduce the cost of sales and operating expenses that are not included in the cost. Also positive influence the level of return on assets and equity will be accelerated by the turnover of the company's funds, which is also associated with the problem of receivables.

Thus, it was found that in order to stabilize and improve financial condition JSC "SVECHEL" needs to take a number of measures aimed at reducing the amount of receivables.

Although, as the analysis of financial statements showed, at the end of the analyzed period, the activity of SVECHEL OJSC was, in general, profitable. This is due to the increase in profits and cash for the analyzed period.

In order to improve and control the state of receivables at JSC "SVECHEL" it is necessary:

• 1. constantly monitor the status of settlements with buyers, especially for overdue debts;
• 2. develop certain conditions for crediting debtors, among which may be: discounts for buyers in case of payment for the goods received within 10 days from the date of receipt of the goods; payment by the buyer of the full cost of the goods, if he purchases the goods from the 11th to the 30th day of the credit period; payment by the buyer of a fine in case of non-payment for the goods within a month and so on;
• 3. target a large number of buyers to reduce the risk of non-payment by one or more buyers;
• 4. track the ratio of receivables and payables;
• 5. carry out regular analysis financial reporting clients compared to previous years;
• 6. form a kind of dossier on buyers, both existing and potential;
• 7. develop an effective differentiated policy for working with buyers. So, for example, all buyers can be conditionally divided into groups depending on their reliability, financial condition and other indicators that are important from the point of view of the possibility of timely payment for purchased products. For each group of buyers, you can develop own program providing discounts and deferrals for products;
• 8. pursue a policy of attracting conscientious customers by offering them new approaches to service. For example, providing discounts for timely payment for products, early payment for products, delivery to the place of demand, etc.;
• 9. carry out activities, including with the involvement of authorities to collect overdue receivables.
• 10. if possible, focus on increasing the number of customers in order to reduce the risk of non-payment by a monopoly customer.

In other areas of improving financial and economic activity enterprises are expected to:

• 1) work with suppliers;
• 2) to study the possibility of increasing the terms of consumer credit, which will lead to a reduction in the duration of the financial cycle of the enterprise;
• 3) conduct an inventory to determine illiquid and hard-to-sell stocks and surpluses of fixed assets;
• 4) create a system of operational planning and control;
• 5) regularly analyze the activities of the enterprise so that it can assess and improve its financial position in a timely manner.

The proposed measures to improve the financial condition of SVECHEL OJSC should improve economic activity enterprise as a whole, by increasing the liquidity, profitability and financial stability of the enterprise in question.

Based on a synthetic assessment of the financial condition of the enterprise, it is necessary to determine priorities and specific measures for its improvement.

The primary direction of improving the financial condition of the enterprise is to overcome the average degree of bankruptcy. According to a synthetic assessment in a tabular way, it was determined that the company needs to find opportunities to repay the lack of existing current assets to ensure short-term liabilities. In order to move from an average degree to a low degree of probability of bankruptcy, according to the unadjusted indicator, it is necessary to repay the shortfall in the amount of 1,557,185 thousand rubles. To improve the situation as a whole, we must increase the turnover of receivables, which will lead to an increase in funds that can be used to pay accounts payable and reduce short-term liabilities.

A vertical synthetic assessment by the coefficient method revealed that most of the coefficients of the financial condition of the enterprise correspond to normal restrictions. But an important direction of improving the financial condition of the enterprise is to increase the turnover of property and capital of the enterprise.

A horizontal synthetic assessment of solvency and creditworthiness indicates that both the solvency and creditworthiness of the enterprise improved over the analyzed period. A horizontal synthetic assessment of property, capital, financial results, indicates that both the state of property, and the efficiency of capital use, and financial results improved by the end of the analyzed period. But business activity of the enterprise leaves much to be desired.

The general synthetic assessment of the financial condition of the enterprise states that during the analyzed period there was a general improvement in the financial condition of the enterprise. But there are certain problems that must be addressed so that this condition does not worsen in the future.

The information obtained during the analysis is used in financial planning at the enterprise. The enterprise needs to develop and implement a financial planning system that will allow the company to forecast and control changes in its performance indicators, maintain positive trends and eliminate emerging problems in time.

Conclusion

Financial condition is a set of indicators reflecting the availability, placement and use of financial resources. However, the purpose of the analysis is not only and not so much to establish and evaluate the financial condition of the enterprise, but also to constantly carry out work aimed at improving it. An analysis of the financial condition shows in what specific areas this work should be carried out, makes it possible to identify the most important aspects and the weakest positions in the financial condition of this enterprise. In accordance with this, the results of the analysis provide an answer to the question of what are the most important ways to improve the financial condition of a particular enterprise in a particular period of its activity.

Analysis of the financial activity of the enterprise by three different ways allows you to comprehensively examine this enterprise and draw conclusions.

So the graphical method helps to visually assess the degree of probability of bankruptcy. The coefficient method allows you to operate with digital data and draw specific conclusions about the financial condition of the enterprise. The tabular method allows you to track the trend of changes in the financial activities of the enterprise.

Based on the data obtained in three different ways, a synthetic analysis was performed, conclusions were drawn about the financial condition of the enterprise and the reasons for improving the condition.

The financial condition of the enterprise under study is generally improving, but there are certain problems. This is confirmed by the data obtained after the analysis in three ways: non-current assets have decreased, return on equity has increased, the circulation of funds has slowed down, the balance sheet has increased, sales revenue is low.

Analysis of the company's liquidity showed that the company has enough of the most liquid assets to repay the most urgent obligations. The probability of bankruptcy is average. The solvency of the enterprise by the end of the period is normal. The share of equity capital in the capital structure is low. Reserves: accelerating the turnover of receivables, increasing the overall turnover of capital, capital productivity of non-current assets, attracting long-term borrowed funds.

Bibliography

1. Blank I.A. Fundamentals of financial management. In 2 volumes - 3rd ed. - K .: Elga, Nika-Center, 2007.

2. Volodin A.A. Financial Management (Enterprise Finance): Textbook. – M.: INFRA-M, 2006. –

3. Zhilkina A.N. Financial management. The financial analysis enterprises. Textbook. - M.: INFRA-M, 2007.

4. Kovaleva A.M. Finance and credit. Uch. allowance/Col. ed. ed. A.M. Kovaleva. - M.: Finance and statistics. 2006.

5. Polyak G.B. Finance. Money turnover. Credit: Textbook: UNITY-DANA, 2008.

6. Samsonov N.F. Finance: Textbook./ Collective aut., ed. N.F. Samsonova - M.: Higher education, Yurayt-Izdat, 2009. - 335-385s.

Improving the financial condition of the enterprise depends on the favorable combination of many circumstances. There are a lot of such moments in the market environment. The performance of the enterprise depends on many external and internal factors.

In particular, external (not dependent on the activities of the enterprise) and internal (depending on the activities of the enterprise) forms of power exert a special influence on the future outcome.

Among the external influences, one should note the impact of socio-economic factors of the country's general development (inflation growth, the instability of the tax system, the instability of regulatory law, the decrease in the tier of real incomes of the population, the growth of unemployment), market factors (decrease in the capacity of the domestic market, increased monopoly in the market, the instability of the foreign exchange market, an increase in the supply of substitute goods).

The range of internal forms of influence on the future outcome of the enterprise is more huge. This includes such factors as managerial (high level of trading risk, poor market skill, inefficient financial management, poor management of production costs, lack of elasticity in management, unsatisfactory good system accounting and reporting), production (lack of solidarity of the enterprise as a property complex, obsolete and worn-out fixed assets, low labor productivity, high energy costs, congestion with public facilities) and market (low competitiveness of products, connectedness from a limited circle of contractors and customers).

The impact of all these factors reduces the likelihood of acquiring the planned financial result to a different extent. In any case, there is a situation of danger of a favorable financial disposition of the organization. In this case, financial stabilization is needed, which at the enterprise in the current situation is carried out stepwise in three stages, shown in Figure 9.

Elimination of insolvency can and should be carried out by measures that are not acceptable from the standpoint of ordinary management. Anti-crisis management allows for any losses (including future ones), at the cost of which it is possible to achieve an improvement in the solvency of the enterprise today. The onset of insolvency means the excess of spending money over their receipt in the absence of cover stocks, that is, a “crisis pit” is formed.

IN this moment more often than anyone, “tasks” with the creditors of the enterprise begin. Lenders are trying to recover their funds by seizing property. All funds received on the account of the enterprise are mechanically blocked and written off in favor of creditors, the operation of the enterprise is frozen, and fines and penalties continue to accrue.

The essence of this stage of the stabilization program is to maneuver cash flows to fill the gap between their spending and receipt.

The maneuver is carried out both by means already received and materialized in the assets of the enterprise, and by those that can be obtained if the enterprise survives the collapse. Filling the "crisis pit" can be carried out by increasing the flow of funds (maximization), and reducing the current demand for working capital (savings).

The following measures can be noted as measures of the stabilization program that ensure the solution of this problem.

• 1. The increase in cash is based on the transfer of the assets of the enterprise into cash. This requires decisive and often shocking steps for the ordinary head of the enterprise, because it is associated with significant losses. Methods for determining an acceptable level of losses (discount) are not considered in this paper, however, we note that losses are inevitable.
• 2. The sale of short-term financial investments is a particularly primitive and self-imposed step to mobilize funds. As usual, at crisis enterprises it is more perfect. One more note. Under the conditions of the actual stagnation of the stock market, it is useless to calculate a discount when selling expensive securities - they go at the price at which they are ready to be purchased.
• 3. The sale of receivables is also obvious and is currently being undertaken by many businesses. The peculiarity of this measure within the boundaries of the stabilization program is that the discounts here can be much larger than it seems to the authorities of the crisis enterprise. In some cases, the calculated discount may be just under 100%, which, as in the case of short-term financial investments, means selling at any price offered.
• 4. Low turnover of the company's working capital. In this case, it is necessary to speed up the turnover of the company's working capital by rationing reserves.

The essence of improving the financial stability of an enterprise is basically the most rapid and radical reduction of inefficient costs.

True, the insolvency of an enterprise can be eliminated within a short period by selling “non-useful” assets, the reasons generating insolvency can remain unshakable if the financial stability of the enterprise is not restored to a safe level. This will eliminate the threat of bankruptcy not only in a short, but also in a relatively longer period of time.

It can have an effective result of improving the organization of labor and optimizing the number of employed personnel in the enterprise. In the pre-crisis environment, most enterprises track an excess of staff, and in a period of collapse, staff reduction becomes an urgent need, and this is not an easy task.

If it is allowed to reduce workers in the main production in proportion to the volume of output, then the personnel of auxiliary departments and the management sphere is less graceful (for example, it is necessary to protect the enterprise independently from the volume of output).

The contraction cannot take place at the same time. Therefore, caution is needed when dismissing personnel, refusing to pay additional payments and allowances, and withdrawing public benefits (lunch, hospital, etc.). Frank actions in this area repeatedly lead to sad results: the remaining staff is not able to cope with the steeply increased volume of work, and enthusiasm for the sound performance of functions is falling.

Expensive securities that do not belong to the organization, but are in its use or disposal in accordance with the terms of the agreement, are accepted for accounting in the assessment provided for in the agreement.

The second stage is the revaluation of financial investments. The initial cost of financial investments, at which they are taken into account, may change. For the purposes of further evaluation of financial investments, they are divided into two groups:

• - investments for which the current market value can be determined (receipt of shares, etc.);
• - investments for which the market value is not determined (contributions to the authorized capital of other organizations, loans granted, assigned receivables, bonds, etc.).

Financial investments of the first group are reflected in the financial statements at the end of the reporting period at the current market value by adjusting their valuation for the previous reporting date. These adjustments can be made monthly or quarterly. The results of the adjustment are written off to the financial results of the trading organization as operating profits and expenses.

Financial investments of the 2nd group are reflected in accounting and reporting at their original cost. At the same time, for debt securities, it is allowed to write off the difference between the initial and nominal value evenly to the financial results of a trading organization and a decrease or increase in the costs of a non-profit organization.

In addition, for debt securities and granted loans, organizations can make calculations of their valuation at a present value without making entries in accounting records.

The third stage is the evaluation of financial investments upon their disposal (redemption, sale, gratuitous transfer, transfer as a contribution to the authorized capital of another organization, etc.). Financial assets for which a fair market value is determined are valued at the time of disposal based on the most recent valuation.

Financial investments for which the current market value is not determined are valued at the time of disposal using one of the following methods:

• - at the initial cost of any accounting unit;
• - at the average initial cost;
• - at the initial cost of the first financial investments in terms of time (FIFO method).

At the initial cost of the entire accounting unit, contributions to the authorized capitals of other organizations (with the exception of shares of joint-stock companies), loans granted to other organizations, deposits in credit organizations, receivables acquired on the basis of an assignment of the right to claim are written off.

Expensive papers upon their disposal can be valued at the average initial cost, which is determined for each type of expensive papers according to their value and number as of the month's preface and the securities received during the month.

The FIFO method (1st - for receipt, 1st - for sale) is a method in which the book value of expensive securities sold is determined taking into account their value in the sequence of arrival at equilibrium, taking into account the cost of expensive securities for the preface of the reporting period;

Financial investments are controlled on accounts of subsection 1100 “Short-term financial investments” and 2000 “Long-term financial investments”.

These accounts are energetic, difficult, basic. According to the debit of these accounts, the balances of financial investments are recorded for the preface and the end of the month, operations to increase investments; on credit - operations to reduce financial investments.

Analytical control of long-term and short-term financial investments is carried out by types of investments and objects in which these investments are made (enterprises selling expensive securities, borrowing enterprises, etc.). At the same time, the construction of analytical accounting should ensure the acquisition of data on financial investments in the country and abroad.

Short-term financial investments may be carried on the balance sheet either at fair value or at the lower of purchase and fair value.

If short-term financial investments are accounted for at an objective cost, then there is a need to periodically consider the metamorphoses of this value, following, for example, the quotation data of existing investments on the stock exchange.

If the investment is not a core activity, then the fair value is determined at the reporting date. If investment is a core activity, then the objective value is determined periodically. The upward metamorphosis of the value of short-term financial investments is recognized as income, and downward - as an expense in the reporting period in which these metamorphoses appeared.

There is a decrease in staff motivation and the associated deterioration in the quality of work. It is no longer the interests of the company, but the search for another job that is at the forefront of the employee's behavior. Yes, besides, workers often primitively begin to plunder enterprises, thus compensating for the decline in profits.

At the same time, saving the wage fund, if it is carried out skillfully, can become an effective factor in anti-crisis management.

Many outside managers are now taking advantage of the fact that most enterprises have wage arrears to employees and that wages are not paid regularly.

So, in the first month it is announced that each worker is reduced wage, but with the condition of its regular payment. Such a policy helps to shy away from the confrontation between the workforce and the new leader.

Reducing the current financial need in practice, it is feasible only through some form of debt restructuring, which depends on the good-natured freedom of creditors of the enterprise. By itself, debt restructuring is not a specific tool of anti-crisis management, because it can also be used when the debtor enterprise is in a relatively good condition. However, the crisis situation, on the one hand, somewhat facilitates the restructuring of debts, and on the other hand, justifies such forms of it, which are unsatisfactory in a typical state.

Thus, it should be noted that as the main directions for improving the financial position of an enterprise, a set of measures to eliminate insolvency, improve financial stability and ensure financial balance in the long term can be used.

INTRODUCTION

1. CASH INCOME OF ENTERPRISES AND FINANCIAL RESULTS OF ECONOMIC ACTIVITIES

1.1 Issues of transformation of accounting and financial statements in accordance with international financial reporting standards

1.2 Unfinished problems associated with the transformation of accounting and financial statements in accordance with IFRS

1.3 The need to improve the methodology of financial analysis in the context of reforming accounting and financial reporting

2. BRIEF ECONOMIC DESCRIPTION OF SVOBODA DELO LLC

3. ANALYSIS OF THE FINANCIAL STATE OF THE ORGANIZATION AND WAYS TO INCREASE THE EFFICIENCY OF ITS ACTIVITIES

3.1 Analysis of the dynamics, composition and structure of the organization's property and sources of its formation

3.2 Analysis of the financial stability of the organization

3.3 Analysis of liquidity and solvency of the organization

3.4 Analysis of profitability indicators

3.5 The main directions for improving the financial condition of the organization

CONCLUSION

INTRODUCTION

In the current economic situation and the current stage of development of economic relations, in order to be viable, clearly know the financial and economic situation of the enterprise, control it and take timely measures, it is necessary to correctly prepare financial statements, conduct financial analysis based on these statements, as well as take objective management solutions. Accounting data is considered as a base, without the analysis of which it is impossible to make reasoned management decisions. Under these conditions, the value of the balance sheet and, on its basis, the analysis of the financial condition of the organization increases sharply.

The development of market relations has put business entities of various organizational and legal forms in such harsh economic conditions under which only a balanced economic policy can strengthen the financial condition and financial stability of the organization. Assessment of the financial condition of the enterprise is part of the financial analysis and is characterized by a set of balance sheet indicators as of a certain date. The financial condition of an enterprise is one of the most important characteristics of management in the transition to a market economy and is the cumulative result of its production, commercial and financial activities. The study of the financial condition by the methods of economic analysis will equip the management of the enterprise with data on the current state of its finances, timely identify existing problems, draw up an action plan to strengthen the financial condition and the prospects for its further development in a market economy. In order to prevent the bankruptcy of an enterprise, you need to know how to manage finances, what should be the capital structure in terms of composition and sources of education, for which they analyze the financial condition of the enterprise.

The purpose of such an analysis is to timely identify and eliminate shortcomings in financial activity and find reserves for improving the financial condition of the enterprise and its solvency.

Based on the relevance of the above modern conditions and the topic of this course work was chosen. The object of the study was the Limited Liability Company "Freedom and Cause".

aim term paper was the study of the analysis of the financial condition of the enterprise and the development of proposals for its further improvement. To achieve this goal, the following tasks were set:

1) studying the theoretical aspects of improving the methodology for analyzing the financial condition of an enterprise in the context of accounting reforms;

2) organizational and economic characteristics of the object of study;

3) analysis of the dynamics, composition and structure of assets and liabilities of the organization's balance sheet;

4) analysis of the main indicators of the financial condition of the organization and assessment of the influence of factors on them;

5) generalization of the results of the analysis and development of proposals for improving the financial condition of the enterprise.

The following forms of financial statements of Svoboda and Delo LLC for 2006-2008 served as sources of information in the course work:

No. 1 "Balance of the enterprise";

No. 2 "Profit and Loss Statement";

No. 3 Statement of changes in equity;

No. 4 "Statement of cash flows";

No. 5 "Appendix to the balance sheet of the enterprise."

1. IMPROVING THE METHODOLOGY OF ECONOMIC ANALYSIS IN THE CONDITIONS OF REFORMING ACCOUNTING

1.1 Issues of transformation of accounting and financial statements in accordance with international financial reporting standards

The development of market relations in the country, the establishment of long-term trade relations, the creation of organizations with foreign investments and the entry of securities into the international market require the elimination of difficulties in understanding by foreign partners the information contained in the financial statements of Russian organizations. To solve this problem, financial statements must be prepared in accordance with Russian standards developed on the basis of IFRS. Reporting prepared in accordance with international standards - necessary condition access to international capital markets. One of the main conditions for the significance of financial information for its users in the international capital markets is the comparability of the reporting data contained in the reports of different countries.

In order to bring the indicators contained in Russian reporting to international financial reporting standards, the reporting (accounting) data is regrouped, or the financial statements are transformed.

Changes in accounting and reporting, in particular the transition to IFRS, should take place gradually, taking into account the capabilities, needs and readiness of the professional and other interested public, as well as public authorities.

A necessary condition for the widespread use of IFRS in the Russian economy is the creation of an infrastructure that ensures the use of these

standards in the regulation of accounting and reporting and directly by business entities.

The main elements of creating an infrastructure for the application of IFRS: legislative recognition of IFRS in the Russian Federation; IFRS approval procedure; a mechanism for summarizing and disseminating experience in applying IFRS; the procedure for official translation of IFRS into Russian; quality control of financial statements prepared in accordance with IFRS, including audit; IFRS training.

To actively apply IFRS in Russian Federation Legislative recognition is essential. In particular, consolidated financial statements prepared in accordance with IFRS should be given the status of one of the types of official reporting.

Accounting prepared in accordance with IFRS allows users to:

Get an idea of ​​the comparable financial position of the organization, its value, performance, cash flows;

Objectively assess the effectiveness of management;

Attract domestic and foreign investors and lenders interested in transparent and reliable financial reporting;

Develop commercial relations with foreign firms, interaction with which is simplified using a single accounting language, with uniform methodological approaches to reporting.

Planned in the near future:

1 Mandatory conversion to IFRS of the consolidated financial statements of publicly significant economic entities, except for those whose securities circulate on the stock markets of other countries and which prepare such reports in accordance with other internationally recognized standards.

2 Approval of the main set of Russian standards for individual accounting statements based on IFRS.

3 Improving the principles and requirements for the organization of the accounting process, as well as the basic accounting rules that ensure the formation of information for the preparation of individual and consolidated financial statements.

4 Creation of a special body within the framework of the system for approving accounting and reporting standards.

5 Creation of the main elements of the infrastructure for the application of IFRS.

6 Convergence of tax accounting rules with accounting rules.

7 Activation of the participation of professional public associations in the development and regulation of the accounting and auditing profession.

8 Improving the system of training and advanced training of personnel, including users of financial statements.

9 Development of international cooperation in the field of accounting, reporting and auditing.

1.2 Unresolved issues related to the transformation of accounting and financial statements in accordance with IFRS

Changes in the accounting and reporting system are aimed at ensuring the formation of information on the financial position and financial performance of economic entities that is useful to interested users. International financial reporting standards were adopted as the main instrument for the formation of accounting and reporting.

Many major steps have been taken towards the successful development of accounting and reporting in Russia, namely:

1. The financial statements disclose information about affiliates, events after reporting date, conditional facts of economic activity, depreciation of financial and other assets, by segments, etc.

2. In accounting and reporting, business entities use methods for assessing assets and liabilities that are oriented to the conditions of a market economy.

3. The largest economic entities prepare consolidated financial statements in accordance with IFRS or other international standards.

4. The market for audit services has been developed.

5. The prestige of the accounting profession has increased.

6. A number of professional public associations appeared, some of which became members of the International Federation of Accountants.

At the same time, despite certain progress in development, there are serious problems in accounting and reporting, which manifest themselves as:

a) in the absence of the official status of financial statements prepared in accordance with IFRS, as well as the necessary infrastructure for the application of IFRS;

b) in the formal approach of regulatory bodies and business entities to many categories, principles and requirements of accounting and reporting that meet the conditions of a market economy;

c) in unreasonably high costs of business entities for the preparation of consolidated financial statements in accordance with IFRS by transforming accounting statements prepared in accordance with Russian rules;

d) in a significant administrative burden for business entities to submit excessive reporting to state authorities, as well as excessive costs due to the need to keep tax records in parallel with accounting;

e) in the weakness of the system of quality control of financial statements, including the low quality of the audit of financial statements;

f) insufficient participation of professional public associations and other interested public, including users of accounting statements, in the regulation of accounting and reporting, as well as in the development of the accounting and auditing profession;

g) in the low level of professional training of most accountants and auditors, as well as insufficiency of skills in using information prepared in accordance with IFRS.

The current system of accounting and reporting does not fully ensure the proper quality and reliability of the information generated in it, and also significantly limits the possibility of useful use of this information.

Currently, favorable conditions are emerging for the further development of accounting and reporting in the Russian Federation. Regulatory legal acts covering the majority of accounting and reporting objects have been put into effect. The professional community has accumulated skills and experience in accounting and reporting in market conditions. The society has matured understanding of the need to increase the pace of transition to the use of IFRS.

Further development of accounting and reporting should be carried out in the following main areas:

1) improving the quality of information generated in accounting and reporting;

2) creation of an infrastructure for the application of IFRS;

3) change in the system of regulation of accounting and reporting;

4) strengthening the quality control of financial statements;

5) significant advanced training of specialists involved in organizing and maintaining accounting and reporting, auditing financial statements, as well as analyzing and evaluating financial statements.

1.3 The need to improve the methodology of financial analysis in the context of reforming accounting and financial reporting

In connection with the transformation of accounting and financial statements in the Russian Federation, there is a need to improve the methodology of financial analysis, unify the indicators necessary for its implementation, develop new, more advanced methods for a comprehensive assessment of the financial condition of economic entities.

The financial condition of an organization (enterprise) is a complex economic category, the study of the content of which is devoted to the study of many modern economists. So, according to G.V. Savitskaya, the financial condition of an enterprise reflects the state of capital in the process of its circulation and the ability of a business entity to self-develop in a given period of time. In another work, the same author considers the financial condition of an enterprise as a category that reflects the financial relations of a market entity and its ability to finance its activities on a certain date.

According to N.P. Lyubushin, financial condition is understood as the ability of an enterprise to finance its activities. It is characterized by the provision of financial resources necessary for the normal functioning of the enterprise, their appropriate placement and effective use, financial relationships with other legal and individuals, solvency and financial stability.

The financial condition of an enterprise can be of several types - stable, unstable (pre-crisis) and crisis. The main goal of the activity of an economic entity is to achieve a stable financial condition, the characteristic features of which are:

1) the ability to make payments on time;

2) finance their activities on an expanded basis;

3) endure unforeseen shocks;

4) maintain its solvency in the event of an unfavorable economic situation.

To achieve a stable financial condition, an enterprise must have an optimal capital structure, organize its movement in such a way as to ensure the excess of income over expenses in order to maintain solvency and create conditions for expanded reproduction.

In market conditions, the analysis and assessment of the financial condition of an organization based on its financial statements should be considered one of the areas of financial policy. As M.V. Romanov "... the main task at the enterprise is the transition to financial management based on an analysis of the financial condition, taking into account the setting of strategic goals for the enterprise, adequate to market conditions, and finding ways to achieve them."

Assessment of the financial condition of the organization - the operation is ambiguous. At the same time, many users need a reliable and objective assessment of the financial condition of an enterprise. Each subject of analysis studies information based on their interests. According to A. D. Sheremet, users of information about the financial activities of an organization are divided into two groups. The first group of users includes owners of enterprise funds, lenders (banks and others), suppliers, customers (buyers), tax authorities, enterprise personnel and management. The second group of users of financial information is the subjects of analysis, who, although not directly interested in the activities of the enterprise, must, under the contract, protect the interests of the first group of users. These are audit firms, consultants, exchanges, lawyers, press, associations, trade unions.

In modern economic literature, there are various approaches and systems of indicators for assessing the financial condition of an organization. So S. M. Bobrovich believes that in order to assess the financial condition, it is necessary to mainly use financial ratios, which are grouped as follows:

1 Liquidity indicators.

2 Indicators of business activity.

3 Profitability indicators.

4 Management performance indicators.

Some scientists, for example, R.S. Saifulin identifies several other four levels of indicators for assessing the financial condition of an enterprise:

Level 1. Profitability.

Level 2. Market sustainability.

Level 3. Balance liquidity.

Level 4. Solvency.

Each of the levels includes a set of certain coefficients.

Professor N.P. Lyubushin prefers a less voluminous scheme for analyzing the financial condition of an enterprise, involves the calculation of the following groups of indicators:

Solvency;

Creditworthiness;

financial stability.

The method of analyzing the financial condition of an enterprise by A. D. Sheremet includes more types of analysis and, in fact, combines all the previous ones. According to this economist, the analysis of the financial condition of the enterprise should include:

1) analysis of the structure of assets;

2) analysis of the structure of liabilities;

3) analysis of financial stability;

4) analysis of the availability and sufficiency of real equity capital;

5) analysis of the availability of reserves and costs by the sources of their formation;

6) analysis of solvency and liquidity;

7) analysis of the required increase in own capital.

Professor G.V. Polyak notes that the analysis of the financial condition of an enterprise includes the following types of analysis:

1 Preliminary (general) assessment of the financial condition of the enterprise and changes in its financial indicators for the reporting period.

2 Analysis of the solvency of the financial stability of the enterprise.

3 Analysis of the creditworthiness of the enterprise and the liquidity of its balance sheet.

4 Analysis of financial results.

5 Analysis of the use of current assets.

6 Assessment of the potential bankruptcy of the enterprise.

Thus, the methods for analyzing the financial condition of an organization are not the same: the types of analysis and the procedure for conducting them, the indicators of the calculation tables, as well as the names of the coefficients and methods for their calculation differ. Reforming accounting and reporting in accordance with the requirements of IFRS requires the development of a unified approach to the methodology for conducting financial analysis.

In addition, in the works of many economists it is noted that in connection with the transformation of accounting and reporting and the transition to international standards, an important stage in the analysis of the financial condition of an enterprise is the assessment of the potential bankruptcy of an enterprise.

The need to assess the potential bankruptcy of an enterprise in the analysis of the financial condition is caused by the very essence of market relations, which are associated with the uncertainty of achieving final results and the risk of losses. One of the significant reasons for bankruptcy is the crisis state of the country's economy, as well as the insolvency of Russian partners, in this regard, the entry of Russian enterprises into international markets is necessary. The transformation of accounting and reporting allows Russian enterprises to cooperate with foreign partners.

According to economists T. G. Vakulenko and L. F. Fomina, forecasting the probability of bankruptcy of an enterprise is based on assessing the financial condition of an enterprise using various approaches: the official methodology for assessing the satisfaction of the balance sheet structure, diagnosing the threat of bankruptcy using the Altman model, and anti-crisis financial management policies.

The policy of anti-crisis financial management includes diagnosing bankruptcy through financial analysis in order to identify the threat of bankruptcy and the development of measures to ensure the exit of the enterprise from a crisis state. The implementation of the anti-crisis management policy of an enterprise involves an assessment of the financial condition by examining a set of informal indicators and criteria. For this purpose, the analysis uses a group of indicators that judge the possible threat of bankruptcy.

In accordance with the current legislation on bankruptcy of enterprises, a limited range of indicators is used to diagnose their insolvency:

current liquidity ratio;

The coefficient of provision with own working capital;

Restoration (loss) coefficient of solvency.

According to these rules, an enterprise is recognized as insolvent if one of the following conditions is met:

1) the current liquidity ratio at the end of the reporting period is below the normative value for the relevant industry;

2) the coefficient of provision of the enterprise with its own working capital at the end of the reporting period is below the standard value for the relevant industry;

3) coefficient of restoration (loss) of solvency<1.

According to V. G. Savitskaya, for diagnosing the probability of bankruptcy

enterprises in modern conditions, it is necessary to use more widely approaches based on the use of integral indicators calculated using:

scoring models;

Multiplicative discriminant analysis and others.

Multivariate comparative analysis is necessary for a comprehensive assessment of the results of managing production units, enterprises, etc. Such a task always arises when it is necessary to give a general rating assessment of the results of management of several enterprises. It is based on the method of Euclidean distances, which allows taking into account not only the absolute values ​​of the indicators of each enterprise, but also the degree of their proximity (range) to the indicators of the standard enterprise. In this regard, it is necessary to express the coordinates of the compared enterprises in fractions of the corresponding coordinates of the standard enterprise, taken as a unit.

In foreign countries, to assess the risk of bankruptcy and the creditworthiness of enterprises, factor models of well-known Western economists Altman, Lis, Taffler, Tishaw and others, developed using multivariate discriminant analysis, are widely used.

The most widely known is the Altman model, which determines the integral indicator of the threat of bankruptcy. The calculation is based on a five-factor model, which is a complex coefficient analysis. Altman determined the coefficients of significance of individual factors in the integral assessment of the probability of bankruptcy. The Altman model has the following form:

(1) Z= 1.2x1 + 1.4x2 + 3.3x3 + 0.6x4 + x5,

where xl - own working capital/amount of assets;

x2 - retained earnings/amount of assets;

хЗ - profit before interest / total assets;

х4 - book value of own capital/debt capital;

x5 - sales volume (revenue) / total assets.

Comparison constant - - 2.675.

According to G. V. Savitskaya, the use of such a model requires great precautions, since this model is not fully suitable for assessing the risk of bankruptcy of our business entities due to different methods of reflecting inflationary factors and different capital structures, as well as due to differences in legislative and information base. Therefore, there is a need to develop their own discriminant functions for each industry, which would take into account the specifics of our reality. Moreover, these functions should be tested every year on new samples in order to refine their discriminant power.

Along with the assessment of the potential bankruptcy of an enterprise, an important direction in improving the methodology of financial analysis is the use of a final comprehensive assessment of the financial condition.

According to economists M. I. Bakanov and A. D. Sheremet, an important place in the system of complex economic analysis is occupied by a generalized assessment of the financial and economic activities of an enterprise, which is a final conclusion about the results of activities based on a qualitative and quantitative analysis of economic processes reflected by a system of indicators. Evaluation of the object's activity is carried out at the first stage of a comprehensive economic analysis, when the main directions of analytical work are determined (preliminary assessment); and at the final stage, when the results of the analysis are summed up (final assessment). The final assessment is an important information source for substantiating and making the optimal management decision in a particular situation.

M.I. Bakanov and A.D. Sheremet considers two main directions for conducting a comprehensive assessment of the financial condition of an enterprise:

(2) R \u003d 2 * K1 + 0.1 * K2 + 0.08 * KZ + 0.45 * K4 + K5,

where K1 is the coefficient of the enterprise's own working capital. K1 ≥0.1.

K2 is the current liquidity ratio. K2 ≥2.

KZ is the capital turnover ratio. KZ≥2.5.

K4 is the coefficient of management efficiency. K4 ≥0.44.

K5 is the profitability ratio of the enterprise. K4 ≥ 0.2.

The constituent stages of the methodology for a comprehensive comparative rating assessment of the financial condition of an enterprise are:

1) collection and analytical processing of initial information for the estimated period of time;

2) substantiation of the system of indicators used for the rating assessment of the financial condition, profitability and business activity of the enterprise, and their classification, calculation of the final indicator of the rating assessment;

3) classification (ranking) of enterprises by rating.

The initial indicators for the rating assessment are combined into four groups. The first group includes the most generalized and important indicators for assessing the profitability of the enterprise's economic activity. The second group includes indicators for evaluating the effectiveness of enterprise management. The third group includes indicators for assessing the business activity of the enterprise. The fourth group includes indicators for assessing the liquidity and market stability of the enterprise.

The calculation of the final indicator of the rating is based on a comparison of enterprises for each indicator of financial condition, profitability and business activity with a conditional reference enterprise that has the best results for all compared indicators. Thus, the starting point for obtaining a rating assessment of the state of affairs of an enterprise is not the subjective assumptions of experts, but the highest results that have developed in real market competition from the entire set of compared objects. The standard of comparison is, as it were, the most successful competitor, who has the best indicators.

This approach corresponds to the practice of market competition, where each independent commodity producer strives to look like his best competitor in all performance indicators.

Firstly, the proposed methodology is based on a comprehensive, multidimensional approach to assessing such a complex phenomenon as the financial activity of an enterprise;

Secondly, the rating assessment of the financial activity of the enterprise is carried out on the basis of the data of the public reporting of the enterprise. To obtain it, the most important indicators of financial activity used in practice in a market economy are used;

Fourthly, to obtain a rating, a flexible computational algorithm is used that implements the capabilities of a mathematical model for a comparative comprehensive assessment of the production and economic activities of an enterprise, which has been widely tested in practice.

Economists Dontsova L.V. and Nikifirova N.N., taking into account the variety of financial processes, the plurality of indicators of financial condition and the resulting difficulties in the overall assessment of the financial position of the organization, recommend in their work a comprehensive scoring of the financial condition.

The essence of this technique lies in the classification of organizations by the level of financial risk, based on an assessment of the system of indicators of financial condition, into a certain number of points, that is, any analyzed organization can be assigned to a certain class depending on the “scored” number of points, based on the actual values ​​of its financial ratios.

1st class - these are organizations with absolute financial stability and absolutely solvent.

2nd class - these are organizations with a normal financial condition. These are usually profitable organizations.

3rd class - these are organizations whose financial condition can be assessed as average.

4th class - these are organizations with an unstable financial condition.

5th class - these are organizations with a financial crisis. They are insolvent and absolutely unstable from a financial point of view. These organizations are profitable.

2. BRIEF ECONOMIC DESCRIPTION OF THE ORGANIZATION

Limited Liability Company "Freedom and Business", registered by the Federal Tax Service of Russia No. 2 for Krasnodar on April 14, 2003,

In its activities, the Company is guided by the Charter, the Federal Law "On Limited Liability Companies" and the Civil Code of the Russian Federation.

Full company name in Russian: Svoboda i Delo Limited Liability Company. Abbreviated name in Russian: Svoboda and Delo LLC.

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

The location (postal address) of the company is as follows: 350058, Russia, Krasnodar Territory, Krasnodar, Karasunsky administrative district, st. Stavropolskaya, 336.

The main goals of the creation and activity of the Company are further saturation of the consumer market with goods, works and services, expansion of competition, introduction of scientific and technological progress and profit.

The Company carries out any activities not prohibited by Federal Laws, including:

Wholesale and retail trade in petroleum products and fuels and lubricants, organization and operation of gas stations, car washes with lubrication and minor repairs. Paid parking lots with service and technical maintenance of vehicles, machines and mechanisms;

Construction, installation and repair work on residential, civil, industrial, agricultural, socio-cultural, strategic and other real estate;

Production and sale of building materials and structures (foundation, wall, roofing and finishing materials, carpentry metal structures);

Implementation of design and development activities in the field of construction, industry, agriculture and other areas;

Installation, repair and adjustment of technological equipment for industrial, agricultural and other areas;

Production, acquisition and implementation of research, development and implementation developments in various sectors of the national economy, the introduction of the latest technologies in production;

Installation, repair and maintenance of hardware and software systems, electrical computing, computer and other office equipment, instruments and equipment, including software and maintenance;

Installation, adjustment. Repair, maintenance and service of electronic equipment, instrumentation and automation in various sectors of the economy and production;

Installation and repair of electrical networks, power lines and electrical equipment;

Carrying out trading and trade-purchasing activities in the manner prescribed by law, including commission trading, the creation and operation of other trade and public catering facilities, commercial and intermediary operations, the provision of dealer, brokerage and other representation services in commodity markets, real estate transactions;

Design, installation, repair, adjustment, operation, maintenance and service of communication, warning, industrial and cable television, access control and time recording, signal switching and other systems in the prescribed manner.

The Company is a legal entity, owns a seal containing the full company name and location of the Company, settlement, currency and other accounts in bank institutions, has full independence in carrying out its production and economic activities in accordance with this Charter and the current legislation of the Russian Federation.

To ensure the activities of the Company, the Authorized capital was formed in the amount of 21,820 (twenty one thousand eight hundred and twenty) rubles.

In order to more broadly characterize the analyzed enterprise, it is necessary to analyze its resources, for which we will use the data in Table 1.

Table 1 - Resources of Svoboda and Delo LLC

Analysis of table 1 showed that the average annual number of employees in the reporting year compared to 2006 increased by 7.4%, and compared with 2007. - by 1.8, which indicates the expansion of activities and an increase in its resources.

The average annual cost of fixed assets of the enterprise in the analyzed 2008. compared to 2006 increased by 24.3%, and compared with 2007. decreased by 12.4%. This is also evidenced by the increase in the cost of circulating assets: in the reporting year compared to 2006. their cost increased by 2.4 times (by 5597 rubles), and in comparison with 2007. - by 54.8% (by 3871 rubles).

To give a comprehensive description of the enterprise, it is also necessary to analyze the results of its activities (table 2)

Table 2 - The results of the activities of Svoboda and Delo LLC

Index
Sales revenue, thousand rubles
Cost of products sold, thousand rubles
Profit from sales, thousand rubles
Selling and administrative expenses, thousand rubles
Balance of operating results, thousand rubles
Non-operating expenses, thousand rubles
Non-operating income, thousand rubles
Income tax and other similar obligatory payments, thousand rubles
Net profit, thousand rubles

Further analysis of table 2 showed that in 2008. compared to 2007 sales revenue also increased by 45.8%, but the cost of goods sold increased by 38.3%. Thus, the growth rate of revenue is higher than the growth rate of cost, which indicates the profitability of the company in the reporting year.

But at the same time, the balance of operating results for the three analyzed years (2006-2008) is negative, that is, the enterprise received a loss from operating activities. So in the reporting year 2008. compared to 2006 and 2007 this indicator significantly decreased by 28 times and 52 times, respectively, which led to a significant decrease in both profit before tax and net profit.

Non-operating income is also absent for all three years, while non-operating expenses in 2008 compared to 2006 decreased, but compared to 2007. they again increased significantly by 10.5 times.

Further analysis of Table 2 showed that in the reporting 2008. compared to 2006 there was an increase in both profit before tax and net profit. Yes, in 2008 compared to 2006 profit before tax increased by 389 thousand rubles, and net profit by 1807 thousand rubles. And in 2008 compared to 2007. there is a sharp decline in profit before tax by 88.9% (by 1244 thousand rubles), respectively, net profit also decreased by 2593 thousand rubles. This happened due to the growth of the negative balance of operating results.

The deterioration of financial results in the reporting year compared to the previous period indicates the instability of the enterprise, and also indicates the unfavorable position of the enterprise in the current conditions of a market economy.

Important for characterizing the financial condition of the enterprise are indicators that characterize the business activity of the organization. Analysis of business activity involves the study of indicators that reflect the dynamism of the development of the enterprise in the direction of the goal. In the general case, when analyzing business activity, the main attention is paid to the dynamics of estimated indicators, which directly depend on the rate of turnover of funds, their turnover.

Indicators characterizing the business activity of the organization are presented in table 3.

Analysis of table 3 showed that in 2008. compared to 2006 profit before tax increased by 389 thousand rubles, and the growth rate of sales proceeds increased by 2.5 times, which corresponds to the optimal ratio of these indicators and indicates the business activity of the enterprise.

Index
The average value of the total capital, thousand rubles.
Sales revenue, thousand rubles
Profit before taxation, thousand rubles
Annual labor productivity, thousand rubles
Speed:
Total Capital
working capital
Working stock and costs
Accounts receivable
accounts payable
Turnover period days: -total capital
Equity
working capital
Working stock and costs
Accounts receivable
accounts payable
Profitability % : Total Capital
Equity

Table 3 - Indicators characterizing the business activity of Svoboda and Delo LLC

Also, about the increase in the business activity of the organization in the reporting year compared to 2006. evidenced by an increase in annual labor productivity by 2.3 times and the turnover ratio of almost all types of financial resources, as well as a decrease in the period of one turnover of all capital, working capital, working capital and costs, receivables and payables.

Further analysis of Table 3 showed that in the reporting year compared to 2007. profit before tax declined, while there was also an increase in annual labor productivity of 43.3%.

3. ANALYSIS OF THE FINANCIAL STATE OF THE ORGANIZATION AND WAYS TO INCREASE THE EFFICIENCY OF ITS ACTIVITIES

3.1 Analysis of the dynamics, composition and structure of the organization's property and sources of its formation

Analysis of the financial condition of the organization allows you to assess the prospects for the development of its financial position in the future. To do this, first of all, it is necessary to analyze the assets (property) of the organization. In the course of the analysis, asset items are identified for which the largest contribution to the increase (decrease) in the total value of assets occurred. The purpose of analyzing the composition, dynamics and structure of the organization's assets is to assess trends in the structure and develop organizational and economic mechanisms to improve the quality of their use.

Data on the composition and size of the organization's property can be obtained on the basis of studying its balance sheet. The balance sheet asset contains information about the placement of capital at the disposal of the enterprise, i.e. on investments in specific property and material values, on the costs of the enterprise for the production and sale of products and on the balance of free cash. Each type of allocated capital corresponds to a separate balance sheet item. In this regard, in the process of analyzing the financial condition of the enterprise, first of all, it is necessary to study changes in the composition and structure of the assets of the enterprise and evaluate them. Table 4 presents an analytical description of the assets (property) of Svoboda and Delo LLC.

The analysis of table 4 showed that at the end of 2008. in comparison with the beginning, the property of the enterprise increased by 3691 thousand rubles. or by 28.9%. The growth in the value of property occurred due to an increase in current assets (by 4677 thousand rubles or 54.3%), while non-current assets decreased (by 986 thousand rubles or 23.8%).

Table 4 - Analytical characteristics of the property of the enterprise, 2008

Index	For the beginning of the year	At the end of the year	Deviation	Growth rate, %
1 Total property, thousand rubles
2 Fixed assets and other non-current assets, thousand rubles.
in % to property
3 Working capital, thousand rubles
in % to property
3.1 Working stocks and costs, thousand rubles
in % of working capital
3.1.1 Production stocks, thousand rubles
in % of working capital
3.2 Cash, settlements and other assets, thousand rubles
in % of working capital
Of which: 3.2.1 Settlements with debtors, thousand rubles.
in % of working capital
3.2.2 Cash, thousand rubles
in % of working capital

Reducing non-current assets, as well as reducing their specific gravity in the total value of property from 32.5% to 19.2% indicates a slowdown in the turnover of fixed assets.

Further analysis of Table 4 showed that the growth of current assets occurred due to an increase in current reserves and costs (in the reporting year they increased by 4172 thousand rubles or 52.9%) and due to the growth of cash current assets, which in the reporting year 2008 increased by 505 thousand rubles. or 70.5%. The growth of cash circulating assets occurred both due to an increase in accounts receivable by 407 thousand rubles. or 56.9%, and at the expense of cash by 98 thousand rubles. or 99 times.

In the composition of current assets, the largest share is occupied by current stocks and costs. The high share of working capital and costs in the total amount of working capital (at the end of 2008 90.8%) indicates a low degree of liquidity of current assets in general. In the structure of current assets, the share of the most liquid and quickly sold assets is very low: at the end of 2008 it amounted to only 9.1%.

If the assets of the balance reflect the funds of the enterprise, then the liabilities are the sources of their formation. The financial condition of the enterprise largely depends on what funds it has at its disposal and where they are invested.

According to the degree of ownership, the used capital is divided into own (3rd section of the balance sheet) and borrowed (4th and 5th sections of the balance sheet).

According to the duration of use, capital is distinguished as long-term permanent (permanent) - 3 and 4 sections of the balance sheet and short-term - 5 section of the balance sheet. The financial position of the enterprise largely depends on how optimal the ratio of equity and debt capital is.

In the process of analyzing the liabilities of an enterprise, first of all, it is necessary to study changes in their composition, structure and evaluate them. Table 5 presents an analytical description of the sources of financing of the enterprise, which allows you to study the dynamics and structure of equity and debt capital, find out the reasons for the change in individual components and evaluate these changes for the reporting period.

The analysis of table 5 showed that at the end of 2008, compared with the beginning, the sources of financing of the enterprise increased by 3691 thousand rubles. or by 28.9%. The growth was due to an increase in borrowed funds by 3348 thousand rubles. or by 29.8%. Increase in the cost of capital and reserves by 343 thousand rubles. or by 22.8%, but the complete absence of own working capital indicates a decrease in the financial stability and solvency of the enterprise.

Table 5 - Analytical characteristics of funding sources, 2008

Index	For the beginning of the year	At the end of the year	Deviation	Growth rate, %
1 Total sources, thousand rubles
2 Capital and reserves, thousand rubles
in % to sources
Of which: 2.1 availability of own working capital, thousand rubles.
in % to own funds
3 Borrowed funds
in % to sources
Of which: 3.1 long-term liabilities, thousand rubles.
in % of borrowed funds
3.2 short-term liabilities, thousand rubles
in % of borrowed funds
Including:
3.2.1 accounts payable, thousand rubles
in % of borrowed funds

An analysis of the structure of liabilities showed that borrowed funds occupy the largest share in the structure of all sources. An increase in borrowed funds, as well as an increase in their share in the total cost of all sources of financing from 88.2 to 88.7% indicates an increase in the organization's dependence on borrowed sources of financing. The growth of borrowed funds occurred both due to an increase in short-term liabilities by 3340 thousand rubles. or by 34.8%, and at the expense of long-term liabilities by 8 thousand rubles. or 5%. The largest share in the structure of borrowed funds is occupied by short-term liabilities.

3.2 Analysis of the financial stability of the organization

The financial condition of the organization is characterized by a system of indicators that reflect the state of capital in the process of its circulation and the ability of a business entity to finance its activities at a fixed point in time. The financial condition can be stable, unstable (pre-crisis) and crisis. The ability of an enterprise to make payments on time, finance its activities on an extended basis, withstand unforeseen shocks, and maintain its solvency in adverse circumstances is indicative of its sound financial condition, and vice versa.

If solvency is an external manifestation of the financial condition of an enterprise, then financial stability is its internal side, reflecting the balance of cash and commodity flows, income and expenses, means and sources of their formation.

The financial stability of an enterprise is the ability of a business entity to function and develop, to maintain a balance of its assets and liabilities in a changing internal and external environment, which guarantees its constant solvency and investment attractiveness within the limits of an acceptable level of risk.

A stable financial position is achieved with equity capital adequacy, good asset quality, a sufficient level of profitability, taking into account operational and financial risk, liquidity adequacy, stable income and broad opportunities to raise borrowed funds.

To ensure financial stability, an enterprise must have a flexible capital structure, be able to organize its movement in such a way as to ensure a constant excess of income over expenses in order to maintain solvency and create conditions for self-reproduction.

For a comprehensive assessment of the financial stability of an enterprise, a system of indicators is used, which can be divided into absolute and relative. Absolute indicators of financial stability

Svoboda and Delo LLC are presented in Table 6.

Analysis of table 6 showed that in the reporting year the enterprise had an unstable financial situation. This is indicated by the lack of one source of stock formation.

Table 6 - Absolute indicators of financial stability, 2008, thousand rubles

Index	For the beginning of the year	At the end of the year	Deviation
1 Capital and reserves
2 Non-current assets
3 Availability of own working capital
4 Long-term liabilities
5Own and long-term sources
6 Short-term loans and borrowings
7 Total value of sources
8 Total inventories and costs
9 Surplus (+), shortage (-) own working capital
10 Surplus (+), shortage (-) of long-term sources
11 Surplus (+), deficiency (-) of the total amount of sources

Increase in own working capital at the end of 2008 occurred due to an increase in the value of the company's own capital, but there was a decrease in non-current assets.

The analysis of the financial stability of the organization is based mainly on relative indicators, since the absolute indicators of the balance sheet in terms of inflation are very difficult to bring into a comparable form. The relative performance of the analyzed enterprise must be compared with generally accepted "norms" to assess the degree of risk and predict the possibility of bankruptcy.

The relative indicators of financial stability include the following indicators:

a) autonomy coefficient - is defined as the ratio of equity to the total capital of the enterprise, its standard is ≥ 0.5;

b) the coefficient of financial dependence is the inverse of the previous coefficient;

c) the ratio of borrowed and own funds is defined as the ratio of borrowed capital to the equity capital of the enterprise, its standard< 1;

d) the financial stability ratio is defined as the ratio of equity and long-term borrowed capital to the entire capital of the enterprise, the standard value of this ratio is 0.8-0.9;

e) coefficient of flexibility of own capital - is defined as the ratio of own working capital to all own funds of the enterprise, its standard is ≥ 0.5;

f) the coefficient of provision of stocks with own working capital - is defined as the ratio of own working capital to the stocks of the enterprise, the normal value of this coefficient is 0.6 - 0.8;

g) the permanent asset index coefficient is defined as the ratio of non-current assets to the company's own capital.

To make a more reasonable conclusion about the degree of financial stability of an enterprise, it is necessary to analyze the relative indicators of financial stability, which are presented in Table 7.

Analysis of Table 7 showed that at the end of the reporting year there was a decrease in the value of the autonomy coefficient, its value is much lower than the norm. This indicates a lack of equity in the enterprise. This conclusion is confirmed by the high values ​​of the coefficients of financial dependence and the ratio of borrowed and own funds.

The high degree of dependence of the enterprise on external creditors and investors is evidenced by the low value of the financial stability ratio, which at the end of the reporting year is outside the norm (0.21).

Table 7 - Relative indicators of financial stability, 2008

Index	For the beginning of the year	At the end of the year	Deviation
1 Coefficient of autonomy
2 Financial dependency ratio
3 Debt to equity ratio
4 Financial stability ratio
5 Equity flexibility ratio
6 Equity and inventory ratio
7 Permanent asset index ratio

The value of the coefficient of provision of reserves and costs with own funds at the end of the reporting year increased by 0.25, but the value of the coefficient is below the standard, which indicates a decrease in the financial stability of the organization and allows us to determine the financial condition of the enterprise as a crisis.

3.3 Analysis of liquidity and solvency of the organization

One of the most important criteria for assessing the financial condition of an enterprise is its liquidity, which means that the enterprise has working capital in the amount theoretically sufficient to repay short-term liabilities. The need to analyze the liquidity of the balance arose in the face of increased financial constraints and the need to assess the creditworthiness of the enterprise. When analyzing the liquidity of the balance sheet, assets are compared, grouped by the degree of their liquidity, with liabilities for liabilities, grouped by maturity.

Depending on the degree of liquidity, the assets of the enterprise are divided into the following groups:

A1 - the most liquid assets - the company's cash and short-term financial investments;

A2 - quickly realizable assets - short-term accounts receivable and other current assets;

A3 - slow-moving assets - inventories and VAT;

A4 - hard-to-sell assets - non-current assets and long-term receivables.

Liabilities of the balance are grouped according to the degree of urgency of their payment:

P1 - the most urgent liabilities - accounts payable, and other short-term liabilities;

P2 - short-term liabilities - short-term loans and borrowings;

PZ - long-term liabilities - long-term loans and borrowed funds;

P4 - permanent liabilities - equity capital of the enterprise.

To determine the liquidity of the balance sheet, it is necessary to compare the results of the considered groups by asset and liability.

The balance is considered absolutely liquid if the following ratios take place:

A2 ≥ P2,

Table 8 presents data for assessing the liquidity of the balance sheet of Svoboda and Delo LLC for 2008.

Table 8 - Estimated liquidity of the balance sheet, 2008, thousand rubles

	For the beginning of the year	At the end of the year		For the beginning of the year	At the end of the year	Payment surplus (deficit)
						For the beginning of the year	At the end of the year
A1 most liquid			P1 most urgent
A2 quickly realized			P2 short-term
A3 Slowly Realized			PZ Long-term
A4 difficult to implement			P4 Permanent

Analysis of table 8 showed that the balance sheet of Svoboda and Delo LLC in 2008 cannot be considered absolutely liquid, since at the beginning and at the end of the reporting year A1 is less than P1, which does not correspond to the conditions of absolute liquidity of the balance sheet.

For a comprehensive assessment of the liquidity of the balance sheet as a whole, the overall liquidity indicator is calculated:

(3) L \u003d A1 + 0.5 * A2 + 0.3 * A3

P1+0.5*P2+0.3*P3

The balance is generally considered liquid if the condition L ≥ 1 is met.

L at the beginning of 2008 \u003d 1 + 0.5 * 715 + 0.3 * 7889 \u003d 2725.2 \u003d 0.27.

9582+0,5*127+0,3*1658 10142,9

L at the end of 2008 \u003d 99 + 0.5 * 1122 + 0.3 * 12061 \u003d 4278.3 \u003d 0.29.

12922+0,5*2234+0,3*1666 14538,8

The low value of the general liquidity indicator (0.7 points less than the norm) indicates that the balance sheet of Svoboda and Delo LLC in 2008 as a whole is not liquid.

To assess the degree of coverage of short-term liabilities of an enterprise by its current assets, liquidity ratios are calculated:

1 The absolute liquidity ratio shows what part of short-term debt can be covered immediately at the expense of available cash and short-term financial investments. The coefficient must be ≥ 0.2.

2 The quick liquidity ratio shows the company's payment capabilities subject to full repayment of receivables. The normal value of the coefficient is ≥ 0.7-0.8.

K-t \u003d A1 + A2 + A3

3 The current liquidity ratio shows the extent to which current assets cover short-term liabilities or the organization's overall payment capacity. The coefficient must be ≥ 2.

K-t \u003d A1 + A2 + A3

Table 9 presents the liquidity ratios calculated according to the financial statements of Svoboda and Delo LLC for 2008.

Analysis of Table 9 showed that at the end of the reporting year, compared with the beginning, the absolute liquidity ratio increased by 0.0064 points and amounted to 0.0065 points, which is much less than the standard value.

Table 9 - Liquidity indicators of the enterprise, 2008

Index	For the beginning of the year	At the end of the year	Deviation
1 Cash and short-term financial investments, thousand rubles
2 Short-term liabilities, thousand rubles
3 Absolute liquidity ratio
4 Cash, settlements and other assets, thousand rubles
5 Quick liquidity ratio
6 Current assets, thousand rubles.
7 Current ratio

This indicates the company's inability to immediately repay 20% of short-term debt at the expense of available funds and short-term financial investments.

Quick liquidity ratio at the end of 2008 is also much less than the standard, which in turn indicates poor payment capabilities of the enterprise, even if the receivables are fully repaid. The current liquidity ratio at the end of the reporting year decreased by 0.01 points, and also does not meet the acceptable standard. This indicates a low overall payment capacity of the enterprise.

3.4 Analysis of profitability indicators

The functioning of the enterprise depends on its ability to generate the necessary profit. At the same time, it should be borne in mind that the management of the enterprise has considerable freedom in regulating the amount of financial results. So, based on the adopted financial strategy, the company has the opportunity to increase or decrease the value of the balance sheet profit by choosing one or another method of property valuation, the procedure for its write-off, and the establishment of a period of use.

The most important indicator reflecting the final financial results of the enterprise is profitability. Profitability indicators characterize the efficiency of the enterprise as a whole, the profitability of various activities, cost recovery, etc. They characterize the final results of management more fully than profit, because their value shows the ratio of the effect to cash or used resources. They are used to assess the activities of the enterprise and as a tool in investment policy and pricing.

Table 10 shows the dynamics of the profitability indicators of Svoboda and Delo LLC for 2006-2008.

Table 10 - Profitability indicators, 2006-2008

Index				Deviation 2008 from
Profit before taxation, thousand rubles
Sales revenue, thousand rubles
Average annual cost, thousand rubles: - total capital
Equity
working capital
Profitability, %: - total capital
Equity
working capital

Analysis of table 10 showed that in 2008 compared to last year, there is a decrease in all indicators of profitability. This indicates a decrease in the efficiency of the enterprise. The greatest decrease is observed in terms of return on equity in the reporting year compared to 2007. it fell by 84.5 points. Also, a significant decrease is observed in terms of profitability of total capital (by 10.1 points), sales (by 2.5 points), working capital (by 15.0 points).

Based on the data in Table 10, we calculate the influence of the main factors on the change in the profitability of the total capital using the following factorial model:

(4) Рк = Ok * Рpr,

where Рк - profitability of the total capital, %;

Ok - the number of turnovers of capital;

Rpr - profitability of sales,%.

Factor analysis data are presented in Table 11.

Table 11 - Influence of factors on the profitability of total capital

Analysis of table 11 showed that in 2008, compared with the previous year, the profitability of the total capital decreased by 10.035 points, which characterizes the activity of the enterprise negatively.

To a greater extent, the decrease in the profitability of the total capital was affected by the decrease in the profitability of sales in the reporting year by 2,471 points, as a result of which the profitability of the total capital decreased by 10,747 points. But at the same time, an increase in capital turnover by 0.266 points had a positive effect, which led to an increase in return on equity by 0.712 points.

On the return on equity, you can find the influence of three factors: the turnover of all capital, the coefficient of financial dependence and return on sales using the following factor model:

(5) Rsk \u003d Ok * Kfz * Rpr

where Rsk - return on equity,%;

OK - the number of revolutions of the total capital;

Kfz - coefficient of financial dependence;

Rpr - profitability of sales,%.

The impact of these factors on the return on equity is presented in Table 12.

Table 12 - Influence of factors on return on equity

Index			Deviation
Turnover of all capital
Financial dependency ratio
Return on sales, %
Return on equity, %
Change in return on equity due to: Total capital turnover
Financial dependency ratio
Profitability of sales

The analysis of table 12 showed that in 2008, compared with the previous year, the return on equity decreased by 84,476 points, which indicates an inefficient use of the organization's own capital. This was due to the negative impact of return on sales by 2,471 points, resulting in a decrease in return on equity by 101,867 points, but at the same time, two other factors had a positive effect on slowing down the decline in return on equity: the financial dependence ratio of 0.959 points and equity turnover .

3.5 The main directions for improving the financial condition of the organization

To improve the financial condition of the organization, it is necessary to constantly analyze it, which allows you to predict possible problems, and also helps to maintain and improve financial stability and solvency for the future. In addition, based on the analysis of the financial condition of the enterprise, measures are developed for the financial recovery of the organization.

The analysis of the financial condition of Svoboda and Delo LLC made it possible to identify both positive and negative trends in the development of the organization. In general, according to the results of the research, the financial condition of the enterprise "Freedom and Delo" in 2008 can be assessed as a crisis. This conclusion is confirmed by the results of a comprehensive assessment of the financial condition of the organization, made in the previous section of the course work. So, we can note the unfavorable positions of the development of the enterprise. These include:

1 decrease in the cost of fixed assets, which indicates a lack of resource potential of the organization;

2 decrease in profit indicators, which indicates a decrease in profitability in the reporting year, as well as a decrease in its business activity.

3 reduction in the value of the enterprise's property, including non-current assets.

4 high share of stocks in working capital, which indicates a low degree of liquidity of current assets;

5 increase in the cost of finished products and goods for resale, which indicates a drop in demand for the company's products;

6 decrease in the cost of equity, including own working capital, which indicates a decrease in the financial stability and solvency of the organization;

7 growth of borrowed funds, as well as an increase in their share in the structure of sources, which indicates an increase in the dependence of the enterprise on borrowed sources of financing, that is, a loss of financial independence.

To eliminate these shortcomings, it is necessary to take measures to improve the financial condition of the organization.

One of the most important drawbacks is the decline in profit margins. The main directions of increasing the profit of the organization is a rational ratio between the proceeds from the sale of products and the cost of goods sold, as well as reducing operating and non-operating expenses. Despite the decrease in the cost of goods sold in 2008. Compared to 2007, there are still reserves to reduce the organization's expenses.

Another disadvantage is the lack of own working capital.

The decrease in the cost of equity in the reporting year is also an unfavorable moment. It is possible to reduce the deficit of own capital by accelerating its turnover, and in the enterprise in 2008. on the contrary, there is a slowdown in turnover. Therefore, it is necessary to implement measures to accelerate the turnover of capital, which provide for a reduction in construction in progress and work in progress, as well as a reduction in inventories to the level of the standard. In addition, it is necessary to speed up the sale of finished products, namely, to re-evaluate finished products in the warehouse that are not in demand and sell them at a discount, as well as to the head of the enterprise to find funds to introduce a sales manager to the staff, whose goal should be to actively promote the manufactured products on market, search for long-term stable business partners.

An analysis of the liquidity of the enterprise showed that the enterprise lacks the most liquid assets to cover short-term liabilities, this is indicated by the low values ​​​​of the absolute and quick liquidity ratios, the absolute liquidity ratio at the standard of 0.2 and higher at the end of the reporting year amounted to 0.0065.

The measures described above will improve the financial condition of Svoboda and Delo LLC.

CONCLUSION

The object of study of this course work was Svoboda and Delo LLC, which is engaged in the production of construction and installation works at real estate, civil, industrial, strategic and other purposes.

During the reporting period, there has been an increase in the resource potential of the organization, as evidenced by an increase in the average annual number of employees and the cost of inventories, while the average annual cost of fixed assets has decreased.

The main purpose of this work is to analyze the financial condition of Svoboda and Delo LLC based on the study of its financial statements and, above all, the balance sheet of the enterprise. Analysis of the balance sheet showed that during the reporting year, the total value of assets increased by 3691 thousand rubles. or 28.9%. At the same time, the growth of assets occurred due to an increase in current assets, and due to a decrease in non-current assets. To a greater extent, the current assets of the enterprise increased due to the growth in the value of working stocks and costs by 4172 thousand rubles. or 52.9%, to a lesser extent due to increased cash.

Analysis of the structure of the company's assets showed that at the end of 2008. compared to its beginning, the share of non-current assets decreased to 19.2%, and current assets increased from 67.5% to 80.8%. In the composition of current assets, the share of inventories slightly increased (from 82.1% to 82.3%), and the share of receivables and the share of cash also increased.

The liabilities of the analyzed enterprise at the end of the reporting year increased by 3691 thousand rubles. rub. or by 28.9%. To a greater extent, the growth was due to an increase in borrowed funds by 3348 thousand rubles. or 29.8%, as well as the cost of capital increased by 343 thousand rubles. or 22.8%, but the complete absence of own working capital indicates a decrease in the financial stability and solvency of the enterprise.

An analysis of the structure of the company's liabilities showed that borrowed funds occupy the largest share in the structure of all sources. The increase in borrowed funds, as well as their share in the total cost of all sources of financing from 88.2% to 88.7%, indicates an increase in the organization's dependence on borrowed sources of financing.

When analyzing the assets and liabilities of an enterprise, the issue of comparability of receivables and payables is very relevant. The analysis showed that at the end of 2008. accounts payable for 9566 thousand rubles. exceeded the accounts receivable, which is not quite a normal ratio.

An analysis of the absolute indicators of financial stability showed that LLC "Svoboda and Delo" both at the beginning and at the end of 2008. there is an unstable financial situation. This is indicated by the lack of a single source of inventory and costs. The reason for this position of the enterprise is the decrease in non-current assets.

Further analysis showed that the liquidity of the assets of the analyzed enterprise is not absolutely liquid. This is indicated by the lack of the most liquid assets to cover the most urgent liabilities.

Calculations have shown that the total liquidity of the balance at the beginning of 2008. amounted to 0.27, and at the end - 0.29, the balance sheet is considered generally liquid if the value of this indicator is equal to 1. therefore, the balance of the analyzed enterprise is not in 2008. liquid.

The most important characteristics of the financial condition are indicators of its profitability. The conducted studies have shown that during the reporting period, Svoboda and Delo LLC has seen a decrease in all profitability indicators. This indicates a decrease in the efficiency of the enterprise.

In order to identify the main reasons for the change in profitability indicators, their factor analysis was carried out, which showed that the main reason for the decrease in the profitability of the total capital and equity of the enterprise was the decrease in the profitability of sales in the reporting year.

The studies carried out allow us to formulate the following proposals for improving the financial condition of the analyzed enterprise:

1 To strengthen the financial condition of the enterprise, conduct an inventory of the state of property in a timely manner in order to identify assets of “low” quality (worn-out equipment, stale stocks, materials, doubtful receivables) and write them off from the balance sheet of the enterprise.

2 To accelerate the turnover of receivables, it is necessary to take urgent measures to collect them. Why timely conduct reconciliations on settlements with debtors.

3 In order to increase the volume of trade, make a revaluation of finished products in the warehouse that are not in demand and sell them at a discount.

4 The head of the enterprise to find funds for the introduction of a sales manager, the purpose of which should be the active promotion of manufactured products to the market, the search for long-term stable business partners.

5 To introduce into the practice of the financial service a periodic assessment of the financial condition of the enterprise, based on the assessment materials, develop measures to strengthen the financial condition and monitor their implementation.

6 In order to improve the financial stability of the enterprise, it is necessary by increasing the amount of net profit and its rational distribution;

7 To reduce the deficit of own capital, it is necessary to accelerate its turnover by reducing the construction time, the production and commercial cycle, excess inventory balances, the amount of work in progress, and increasing the amount of proceeds from the sale of products;

8 To improve the structure of the balance sheet, it is necessary to increase the liquidity of assets by increasing the share of the most liquid and fast-selling assets in their composition, establishing the optimal ratio between these assets and the company's short-term debt.

LIST OF USED SOURCES

1 Federal Law of December 26, 1995 No. 208-FZ. On joint-stock companies // Collection of legislation of the Russian Federation. - 1996. - No. 1. - Art.1.

2 Federal Law of November 21, 1996 No. 129-FZ. About accounting // Rossiyskaya Gazeta. - 1996. - November 28.

3 Federal Law of August 05, 2000 No. 118-FZ. Tax Code of the Russian Federation. Part two // Collection of legislation of the Russian Federation. -2000. - No. 32. - Art. 3341.

4 Federal Law of October 26, 2002 No. 127-FZ. On insolvency (bankruptcy) // Collection of legislation of the Russian Federation. - 2002. -№43.-St. 4190.

5 Order of the Ministry of Finance of the Russian Federation dated July 29, 1998 No. 34n. On approval of the Regulations on accounting and financial reporting in the Russian Federation // Rossiyskaya Gazeta. - 1998. - October 31.

6 Order of the Ministry of Finance of the Russian Federation dated December 9, 1998 No. 60n. On approval of the Accounting Regulations " Accounting policy organizations” (PBU 1/98) // Rossiyskaya Gazeta. - 1999. - January 20.

7 Order of the Ministry of Finance of the Russian Federation dated May 6, 1999 No. 32n. On Approval of the Accounting Regulation "Income of the Organization" (PBU 9/99) // Rossiyskaya Gazeta. - 1999. - June 22.

8 Order of the Ministry of Finance of the Russian Federation dated May 6, 1999 No. ЗЗн. On Approval of the Accounting Regulation "Organizational Expenses" (PBU 10/99) // Rossiyskaya Gazeta. - 1999. - June 22.

9 Order of the Ministry of Finance of the Russian Federation dated July 6, 1999 No. 43n. On approval of the Accounting Regulations "Accounting statements of the organization" (PBU 4/99) // Accounting. - 1999. - No. 9. -S. 3-12.

10 Order of the Ministry of Finance of the Russian Federation dated October 16, 2000 No. 91n. On Approval of the Accounting Regulation “Accounting for Intangible Assets” (PBU 14/2000) // Accounting. - 2001. - No. 1. - S. 3-8.

11 Order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n. On approval of the Chart of Accounts for Financial and Economic Activities of Organizations and Instructions for its Application // Accounting. - 2000. -№23.-S. 52-78.

12 Order of the Ministry of Finance of the Russian Federation dated August 2, 2001 No. 60n. On Approval of the Regulation on Accounting “Accounting for Loans and Credits and Costs for Their Servicing” (PBU 15/01) // Accounting. - 2001. - No. 20. - From 5-11.

13 Order of the Ministry of Finance of the Russian Federation dated December 10, 2002 No. 126n. On Approval of the Regulation on Accounting “Accounting for Financial Investments” (PBU 19/02) // Bulletin of Normative Acts of Federal Executive Authorities. - 2003. - March 3.

14 Bakanov M.I. Theory of economic analysis / M.I. Bakanov, A.D. Sheremet. -M.: Finance and statistics, 2000. - 382 p.

15 Bobrovich S.M. Assessment of the financial condition and business activity of the enterprise: Tutorial/ CM. Bobrovich, O.V. Bogatyryova, V.A. Goncharenko. - 2nd ed., add. and reworked. - Krasnodar: South, 2001.-120 p.

16 Vakulenko T.G. Analysis of accounting (financial) statements for making managerial decisions / T.G. Vakulenko, L.E. Fomin. -- St. Petersburg: Gerda, 2001.-288 p.

17 Varenova I. G. Accounting: Textbook for colleges. - M.: Prior-izdat, 2004. - 208 p.

18 Vasilevich I.P. Issues of transformation of financial statements in accordance with IFRS / I.P. Vasilevich, F.A. Utkin // Accounting.-2004.-№12.-S. 48-52.

19 Generalova N.V. Methodology for the transformation of Russian reporting into reporting prepared in accordance with IFRS // Accounting.-2004.-№24.-S. 45-55.

20 Gilyarovskaya L.T. Economic Analysis: Textbook for High Schools. 2nd ed., add. - M.: UNITI-DANA, 2004. - 615s.

21 Dontsova L.V. Comprehensive analysis of accounting reports / L.V. Dontsova, N.N. Nikiforov. - M: Business and Service, 2001. - 304 p.

22 Zimin N.E. Analysis and diagnostics of the financial and economic activity of the enterprise / N. E. Zimin, V. N. Sokolova. - M.: Kolos S, 2004. -384s.

23 Efimova O. V. Analysis of financial statements: Textbook / Ed. O. V. Efimova. - M.: Omega-L, 2004. - 408 p.

24 Kovalev V.V. Analysis of economic activity of the enterprise / V.V. Kovalev, O.N. Volkov. - M.: Prospekt, 2000. - 364 p.

3.5 Suggestions for improving the financial condition

To identify the real financial position of the enterprise, it is necessary to analyze the indicators of the probability of bankruptcy.

Let us analyze the indicators of the probability of bankruptcy of the enterprise under consideration on the basis of various methods.

Table 17

Analysis of indicators of the probability of bankruptcy of Marikommunenergo LLC for the period from 2005 to 2009.

Index	standard	2005	2006	2007	2008	2009
1	2	3	4	5	6	7
Current liquidity ratio	>2	0,85	0,83	0,83	0,85	0,83
The coefficient of security of current assets with own working capital	>0,1	-0,16	-0,19	-0,19	-0,17	-0,2
Solvency recovery ratio	-	-	0,41	0,42	0,43	0,41

Judging by the data in Table 17, there is no possibility of restoring the company's solvency in the next 6 months.

Table 18 presents an analysis of the probability of bankruptcy of Marikommunenergo LLC for 2005-2009. according to the method of R.S. Saifulin and G.G. Kadykov.

Table 18

Analysis of indicators of the probability of bankruptcy of Marikommunenergo LLC for the period from 2005 to 2009. according to the method of R.S. Saifulin and G.G. Kadykova

Index	Calculation formula	2005	2006	2007	2008	2009
1	2	3	4	5	6	7
SOS security ratio (X 1)		0,85	0,83	0,83	0,85	0,83
Current liquidity ratio (X 2)		-0,16	-0,19	-0,19	-0,17	-0,20
Asset turnover (X 3)		1,59	0,01	1,59	0,01	4,01
Profitability (X 4)		0,00	0,00	0,01	0,00	0,01
Return on equity (X 5)		0,46	-0,05	3,38	2,53	6,56
Z		2,28	1,59	5,15	4,22	8,51

From the indicators calculated in Table 18, it follows that over the last two years of the period under review, Z > 1, therefore, the probability of bankruptcy of Marikommunenergo LLC is low, the increase in Z from 2.28 to 8.51 is positive.

Thus, we can conclude that the probability of bankruptcy of Marikommunenergo LLC is present, but the changes taking place at the enterprise make it possible to reduce the risk of bankruptcy to a minimum.

Based on the results obtained during the study, it is necessary to develop proposals related to improving the financial condition of the enterprise.

Taking into account the identified shortcomings of Marikommunenergo LLC, recommendations can be made that would further improve its financial position.

At this enterprise, the main share in the sources of asset formation is occupied by borrowed capital. Thus, during the period under review, its share in the overall structure of sources of formation was more than 98%. The value of the share of equity capital is very small. Therefore, it is necessary to increase the cost of equity capital. This can be achieved by increasing the authorized capital, as well as increasing the amount of profit received, while net profit reporting period at the present stage of development of the enterprise to use for investing in the production process. It is also necessary to create a reserve capital to attract the attention of investors.

The amount of borrowed capital, in turn, must be reduced and minimized, while optimizing its structure. This can be achieved by timely, systematic repayment of previous debts under short-term loans and loans and refusal to attract new earthly sources. But at the same time, it is necessary to increase the share of long-term borrowed capital in the cost of borrowed capital by reducing significant amounts of accounts payable and attracting long-term capital.

It is also necessary to pay attention to the placement of the capital of the enterprise, that is, to optimize the structure of assets in order to increase the efficiency of the enterprise.

It is necessary to pay attention to the fact that non-current assets occupy a less significant place in the value of property, which is a negative trend. The largest part of the value of non-current assets falls on fixed assets (100% in 2007-2009). Thus, it is necessary to pay attention to the renewal of the material and technical base, including fixed assets to increase the profitability of the production process and equip it modern views techniques that increase the productivity of employees of the enterprise and allow you to identify reserves to reduce costs.

The structure of current assets is also not optimal.

The structure of current assets is dominated by value added tax on acquired valuables and receivables.

With this structure, LLC "Marikommunenergo" is recommended to develop a program of measures for the management of current assets.

The amount of released working capital of the enterprise must be directed to the implementation of measures to overcome the financial crisis of the company.

Analyzing the provision of reserves with sources of their formation, a lack of own working capital, own working capital and long-term borrowed sources was revealed, while these negative values ​​were obtained due to the too low value of equity capital, therefore Marikommunenergo LLC needs to pay attention to this particular source of capital formation. This is also evidenced by the coefficients of autonomy and financial dependence obtained during the calculations.

When analyzing liquidity, it was revealed that throughout the entire period under review, the balance sheet of this enterprise is not considered absolutely liquid. Non-fulfillment of the first and second inequalities entails non-fulfillment of the fourth one, which is of a balancing nature and its non-fulfillment indicates non-compliance with the minimum condition for financial stability - the organization has its own working capital.

In each reporting period, the organization has a lack of funds to fulfill its obligations, which in most cases increases by the end of the year. The exception is slow-moving assets that the organization has in excess.

The solvency of the organization in question, based on the calculated liquidity ratios, can be assessed as low, that is, the organization is not always able to fully and within the specified time to pay off its obligations that have arisen.

The value of the quick liquidity ratio in LLC "Marikommunenergo" does not meet the standard value, while it may turn out to be insufficient, since a large share of liquid funds is accounts receivable (with a part being long-term), some of which is difficult to collect in a timely manner.

Therefore, the company needs to develop an effective policy for working with debtors. So, in the contract for the provision of services, it is necessary to clearly stipulate the terms for the performance of work and the repayment of debts by customers to the enterprise in question.

In the course of the work, it was revealed that the balance sheet of the Marikommunenergo LLC enterprise is illiquid throughout the analyzed period, and the enterprise's activity can be characterized as unstable.

At this stage, it is advisable to consider ways to increase the profit of the enterprise and optimize work with creditors.

To increase profitability for Marikommunenergo LLC, it is possible to offer measures to search for internal reserves associated with increasing the profitability of production and achieving break-even work:

More complete use of the production capacity of the enterprise,

Improving the quality and competitiveness of products,

Rational use of material, labor and financial resources,

Reduction of unproductive expenses and losses.

At the same time, the main attention should be paid to the issues of resource conservation - the introduction of progressive norms, standards and resource-saving technologies, the organization of effective accounting and control over the use of resources, the study and implementation of best practices in the implementation of the savings regime, material and moral incentives for employees to increase resource savings and reduce unproductive costs and losses.

Ways to increase the profit of Marikommunenergo LLC:

Increasing sales volumes;

Expansion of the range of products offered;

Price increase;

Reducing the cost of production;

Search for new more profitable markets;

Implementation in a more optimal time frame.

For the period from 2005 to 2009 Marikommunenergo LLC is in a crisis situation, the company is on the verge of bankruptcy, since cash, securities and receivables do not cover its accounts payable and overdue loans. Quite low financial results, as well as the state of equity and borrowed capital, also testify to the crisis.

The state of the enterprise is characterized by the presence of regular non-payments, overdue debts to suppliers, the presence of arrears in the budgets.

To stabilize the activities of a limited liability company, it is necessary:

To increase the share of sources of own funds in current assets by increasing the authorized capital of the enterprise;

In addition, to attract borrowed funds to overcome the crisis, while borrowed funds must be attracted on a long-term basis;

Optimize inventory structure by disposing of slow-moving or unused stocks in production and increasing permanently used materials to avoid downtime in production activities;

Develop a program of measures to improve the liquidity of current assets, which will include the regulation of working capital, the management of receivables, as well as cash flows at the enterprise.

The dynamics of turnover indicators characterizes the activities of Marikommunenergo LLC positively. The only negative change was the decrease in the change in the cash turnover indicator, the change of which has a negative value, which is associated with a significant growth rate of the company's cash during the period under review. But this fact is more positive than negative.

Strengthen the marketing service in order to identify new niches in the market for the work performed by the enterprise.

CONCLUSION

For the implementation of effective activities, enterprises need to analyze the financial condition.

Under the financial condition refers to the ability of the company to finance its activities. It is characterized by the availability of financial resources necessary for the normal functioning of the enterprise, the expediency of their placement and efficiency of use, financial relationships with other legal entities and individuals, solvency and financial stability.

The financial condition can be stable, unstable and crisis. The ability of the enterprise to make payments in a timely manner, to finance its activities on an expanded basis, indicates its good financial condition.

The financial condition of the enterprise depends on the results of its production, commercial and financial activities. If production and financial plans are successfully implemented, it has a positive effect on the financial position of the enterprise. And vice versa, as a result of underfulfillment of the plan for the production and sale of products, there is an increase in its cost, a decrease in revenue and the amount of profit and, as a result, a deterioration in the financial condition of the enterprise and its solvency.

A stable financial position, in turn, has a positive impact on the implementation of production plans and the provision of production needs with the necessary resources. Therefore, financial activity component economic activity is aimed at ensuring the planned receipt and expenditure of financial resources, the implementation of settlement discipline, the achievement of rational proportions of own and borrowed capital and its most efficient use.

The main purpose of the analysis is to timely identify and eliminate shortcomings in financial activities and find reserves for improving the financial condition of the enterprise and its solvency.

In the course of the study, theoretical aspects were considered on issues related to the concept and methods of financial analysis of an enterprise; the financial and economic situation of the activities of Marikommunenergo LLC was determined; the features of the organization of accounting at the enterprise under consideration are revealed; an analysis of the financial condition of Marikommunenergo LLC was carried out and measures were developed to improve its financial stability.

In the course of the study, it was revealed that over the analyzed period, the profit indicator by 2009 increased significantly. The indicator of output of products, works (services) has a similar trend of change, an increase of which occurred almost 6 times over the period under review (from 17,312 thousand rubles to 99,457 thousand rubles). Accordingly, the cost of goods sold, works (services) also increases. At the same time, the positive fact is that the revenue growth rate (574.50%) is significantly lower than the cost growth rate (569.63%), which indicates positive aspects in the enterprise's cost management.

The organization has a low performance for the study period, which is also confirmed by the net profit indicator, but this indicator has a positive trend.

The average number of employees of the enterprise is increasing every year. Thus, the total change in this indicator was 18 people. (from 67 people to 85 people), and the overall growth rate is 26.87%.

When considering the sources of formation, it was revealed that at this enterprise, the main share in the sources of asset formation is occupied by borrowed capital. Thus, during the period under review, its share in the overall structure of sources of formation was more than 98%. The value of the share of equity capital is very small. Therefore, it is necessary to increase the cost of equity capital. This can be achieved by increasing the authorized capital, as well as increasing the amount of profit received, while the net profit of the reporting period at the present stage of the enterprise's development is used to invest in the production process. It is also necessary to create a reserve capital to attract the attention of investors.

Throughout the analyzed period, the organization had an unstable financial situation, which can be characterized as a crisis, when cash, short-term financial investments and receivables do not cover accounts payable and overdue loans. It is characterized by the presence of irregular payments. The organization constantly lacks its own working capital.

It is necessary to pay attention to the fact that non-current assets occupy a less significant place in the value of property, which is a negative trend. The largest part of the value of non-current assets falls on fixed assets (100% in 2007-2009). At the same time, it is necessary to pay attention to the renewal of the material and technical base, including fixed assets to increase the profitability of the production process and equip it with modern types of equipment that increase the productivity of the enterprise's employees and allow identifying reserves to reduce costs.

The structure of current assets is dominated by receivables.

For the three financial years under consideration, the balance of this enterprise is not considered absolutely liquid. The current situation at the enterprise indicates that the minimum condition for financial stability is not observed - the organization has its own working capital.

In each reporting period, the organization has a lack of funds to fulfill its obligations, which in most cases increases by the end of the year. The exception is slow-moving assets.

Thus, the solvency of this organization on the basis of the calculated coefficients can be assessed as low, that is, the organization is not always able to fully and within the specified time to pay off its obligations that have arisen.

Taking into account the identified shortcomings of Marikommunenergo LLC, recommendations can be made that would further improve its financial position:

It is necessary to control the status of settlements with buyers on deferred payments (overdue) debts;

It is necessary to optimize the amount of stocks to reduce the turnover time of slow-moving assets;

Monitor the ratio of accounts receivable and accounts payable: a significant excess of accounts receivable poses a threat to the financial stability of the enterprise and makes it necessary to attract additional sources of financing;

It is necessary to revise the composition of debtors: it is necessary to abandon stable non-payers and start looking for solvent debtors;

If possible, target a larger number of consumers in order to reduce the risk of non-payment by one or more large buyers, it is worth reviewing contracts and finding better partners;

Increasing the share of own funds in current assets due to the growth of retained earnings;

Strengthen the marketing service in order to identify new niches in the market for the services provided by the enterprise and the work performed.

LIST OF USED LITERATURE

1. Federal Law "On Accounting" dated November 21, 1996 No. 129-FZ

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What to consider when choosing cards Russian systems or individual banking. In case of choice VISA cards or MasterCard, not only thousands of stores in Russia, but also a huge network around the world are at the service of the client. Settlement part: "Analysis of the financial condition of the enterprise" Task for the settlement part. The financial condition of the enterprise is expressed in the ratio of its structures ...