In order to fulfill production plans and trade turnover plans, all enterprises and organizations must have at their disposal fixed and circulating production assets and circulation funds.

Working capital of enterprises is a set of working capital assets and circulation funds in cash. Circulating assets act as an advanced value, carrying out circulation in the process of production and sale of products.

Circulating production assets express the value of the objects of labor needed by enterprises to ensure the continuity of the production process. They, in turn, are divided into potential funds, i.e., awaiting entry into the production process, and funds that are directly involved in this process. The former include fuel, raw materials, basic and auxiliary production materials stored in the form of stocks in the warehouses of enterprises, and the latter include work in progress and semi-finished products.

Funds of circulation are used in the sphere of circulation; they consist of finished goods and cash. Each manufacturing enterprise systematically sells its products. But in order to fulfill the obligations to supply goods to other enterprises and organizations in a timely manner, it is necessary to have stocks of finished products in warehouses.

The composition of working capital assets includes:

production stocks - objects of labor received by the enterprise for subsequent processing and ensuring the production process (stocks of raw materials, materials, components, fuel, low-value and wearing items, containers, etc.);

work in progress - objects of labor that have entered the production process and are located at workplaces and between them (blanks, semi-finished products, parts, assemblies, products that have not passed all stages of processing);

deferred expenses - a valuation of expenses for the preparation and development of new types of products produced in a given period, but payable in the future (expenses paid in advance, rent, etc.).

The circulation funds include:

finished products, goods for resale and goods shipped - objects of labor that have passed all stages of processing and are ready for sale, i.e. products of labor;

accounts receivable - debts to the enterprise from legal entities, individuals and the state. As part of accounts receivable, debts of buyers and customers, bills of exchange receivable, debts of subsidiaries and affiliates, debts of founders for contributions to the authorized capital, issued advances are distinguished;

cash.

The main production assets include: buildings, structures, equipment, machines. They also include tools and fixtures that cannot be written off within one year.

Fixed production assets are the leading factor in determining the specific structure of fixed assets, they have a decisive influence on the production, financial and economic results of the enterprise.

To assess fixed assets, natural and cost indicators are used.

In-kind indicators are used in determining the technical level of means of labor, the production capacity of enterprises and its development (in channels, tank numbers, etc.), as well as when planning the commissioning of communication facilities and facilities, evaluating the effectiveness of their use.

The valuation of fixed assets is one of their most important characteristics. It is necessary to determine the total volume of fixed assets, their structure and dynamics, planning their reproduction, depreciation. The cost of fixed assets underlies the calculation of a number of economic indicators, such as the cost of production, capital productivity and capital-labor ratio, profitability.

In practice, the following types of valuation of fixed production assets are used:

at original cost;

at replacement cost;

at original cost, less depreciation (residual value in the initial assessment);

at replacement cost, minus depreciation (residual value in replacement assessment);

at the average annual cost.

In practice, fixed production assets are the objects of accounting. To get an idea of ​​the presence and movement of fixed assets, their book value is used - the cost at which they are accepted on the balance sheet of the enterprise. In economic terms, the book value is equal to the residual value. It also makes it possible to judge the amount of unreimbursed advanced capital.

The balance sheet of fixed assets at full cost is compiled as follows:

Fkg = Fng + Fvv - Fvyb, (1.2)

where Fng, Fkg - the total cost of fixed assets as of the beginning and end of the year, respectively; Fvv - the cost of fixed assets put into operation; Fvyb - the total cost of retiring fixed assets.

Since during the year the value of fixed assets changes as a result of the introduction of new and the disposal of worn-out means of labor, the average annual value of fixed assets is used in economic calculations.

Depreciation of fixed assets

In the process of operation or inactivity, fixed assets are subject to depreciation. The economic essence of depreciation of fixed assets consists in their gradual loss of their use value and value, which is transferred to the newly created product. In this case, a part of the value of fixed assets is transferred to the product, the amount of which is determined by the amount of depreciation.

Distinguish between physical and moral depreciation. Physical deterioration is determined by the fact that, participating in the production process, fixed assets gradually lose their consumer ability, their mechanical and other properties change. I would like to note that different types of fixed assets wear out at different times. The amount of physical depreciation of fixed assets depends on the intensity and nature of their operation, storage conditions, etc. The higher the load on them, the faster they wear out.

To assess the degree of physical depreciation of fixed assets, an expert method and a method of analysis of the service life are used. The expert method, in turn, is based on a survey of the actual technical condition of the object, and the analysis of the service life is based on a comparison of the actual and standard service life of the relevant objects.

The obsolescence of fixed assets is expressed in their depreciation, the loss by funds of their use value and value, regardless of their physical condition due to scientific and technological progress. In the conditions of scientific and technological progress, the importance of obsolescence of fixed assets is increasing.

There are two forms of obsolescence of fixed assets.

The first form of obsolescence occurs when, under the influence of the growth of labor productivity in the production of machinery and equipment, the socially necessary labor costs for their production are reduced, as a result of which their value decreases. In other words, tools of the same design are produced cheaper in connection with the improvement of their methods of production.

The second form of obsolescence is a consequence of the creation of new, more productive and economical means of labor. Obsolescence of the second form of existing fixed assets is characterized by the loss by the funds of their use value and value. It is advisable to replace these funds with new ones, despite their physical suitability for further exploitation, if the effect of the replacement exceeds the losses from the incomplete transfer of the value of the means of labor to the created product.

The main means of preventing obsolescence losses is more intensive use of equipment. Replacing obsolete equipment with a more advanced model is economically feasible if this replacement allows you to increase labor productivity, reduce the cost of production compared to the same indicators when using old equipment.

The degree of depreciation of fixed assets is determined by the following indicators:

Physical Wear (IF):

If \u003d Tf / Tn * 100%, (1.3)

where Tf is the actual service life of fixed assets, Tn is the standard service life of fixed assets,

or If \u003d Ca / OFp * 100%, (1.4)

where Ca - the amount of accrued depreciation, thousand rubles; OFp - the initial cost of fixed assets, thousand rubles.

Obsolescence of the first form (Im):

Im \u003d (OFp - OFv) / OFp * 100%, (1.5)

where OFV is the replacement cost of fixed assets, thousand rubles,

Obsolescence of the second form (Im?):

Im \u003d (Mon - Ps) / Mon * 100%, (1.6)

where Mon is the performance of new equipment, Ps is the performance of old equipment.

The gradual wear and tear of the means of labor leads to the need to accumulate funds to compensate for the wear and tear of fixed assets and their reproduction. This is done through depreciation.

Depreciation - compensation in cash for the cost of depreciation of fixed assets. It is a way of gradually transferring the value of funds to manufactured products. Deductions intended to reimburse the cost of the worn-out part of fixed assets are called depreciation. It should be noted that fixed assets after each production cycle do not require compensation for depreciation in kind, so depreciation charges are accumulated, forming a depreciation fund.

There are three main methods of depreciation calculation:

linear (uniform) - depreciation is charged monthly based on its monthly rate;

accelerated - reducing the depreciation period and increasing its annual rates;

productive - accounting for the volume of production at a given facility of production assets.

Indicators of the use of fixed assets

The effectiveness of the use of fixed assets is evaluated by a system of indicators.

Return on assets (FR) - the ratio of the volume of production in monetary terms (OP) to the average annual cost of fixed assets (OFsr).

FD \u003d (OP / OFav) * 100% (1.7)

The capital intensity of production (PU) is the cost of fixed assets per unit of the annual volume of manufactured products.

FE \u003d 1 / FO (1.8)

Profitability of fixed assets.

Ro.f \u003d (Pr / OFsr) * 100%, (1.9)

where Pr - profit, million rubles.

Profitability of production.

Rp \u003d Pr / (OFsr + No.s) * 100%, (1.10)

where No.s - the value of normalized working capital.

Production capacity utilization factor.

Ki.m \u003d (OP / PM) * 100%, (1.11)

where OP - the actual volume of production in conditionally natural, natural indicators;

PM - the production capacity of the enterprise in the same units.

The indicator of extensive use of machinery and equipment (Ke) is the ratio of the actual operating time of machinery and equipment (Vf) to the calendar time (Vk).

Ke \u003d Vf / Vk (1.12)

The indicator of intensive use of machinery and equipment (Ki) is the ratio of the actual productivity of the machine per unit of time (Pf) to the technical or planned one (Ppl).

Ki = Pf / Ppl (1.13)

To determine the movement of fixed production assets and the level of their technical improvement, a number of indicators are calculated.

update rate.

kobn = OFnew / OFc.g, (1.14)

where OFnov - the cost of newly introduced fixed assets; OFc.g - the cost of fixed assets at the end of the year.

Input ratio.

kvv = OFvv / OFk.g, (1.15)

where OFvv - the cost of fixed assets put into operation.

Dropout rate.

kvyb = OFvyb / OFn.g, (1.16)

where OFvyb - the cost of fixed assets retired during the year; OFn.g - the value of fixed assets at the beginning of the year.

Wear factor.

ki = I / OFn.g. (1.17)

Validity factor.

kg \u003d (OFn.g - I) / OFn.g. (1.18)

Load factor.

kin = (VPf / VPpl) * 100% (1.19)

Extensive load factor.

kext = (Tf / Tm) * 100% (1.20)

Integral utilization factor.

kint = kin * kext (1.21)

Equipment shift factor.

kcm = Tf / Te, (1.22)

where Te is the effective fund of equipment operation time in 1 shift.

Thus, in modern conditions, the implementation of reserves for improving working capital and circulation funds is becoming one of the most important functions of the marketing services of communication organizations.

Performance indicators for the use of working capital can be improved by:

improving the organization of production, labor and management, eliminating unscheduled downtime;

reducing time and improving the quality of repairs;

professional development of personnel;

improvement of engineering and technology;

expanding the scope of leasing services;

improving the quality of preparation of raw materials and materials for the production process;

increase in loading and capacity of the equipment;

introduction of new, cost-effective communication technology, technical improvement and modernization of equipment;

accelerated development of design capacities, etc.

The means of labor (machines, equipment, buildings, vehicles) together with the objects of labor (raw materials, materials, semi-finished products, fuel) form the means of production. Expressed in value terms, the means of production are the production assets of enterprises. Distinguish between fixed and working capital.

The main production assets are the means of labor involved in the production process for a long time and retaining their natural form. Their cost is transferred to the finished product in parts, as the consumer value is lost.

Circulating assets are those means of production that are entirely consumed in each new production cycle, fully transfer their value to the finished product and do not retain their natural form during the production process.

Along with production, there are non-productive fixed assets - social property. These are residential buildings, children's and sports institutions, canteens, recreation centers and other objects of cultural and community services for workers that are on the balance sheet of enterprises and do not have a direct impact on the production process.

revolving funds- this is an obligatory element of the production process, the main part of the cost of production. The lower the consumption of raw materials, materials, fuel and energy per unit of output, the more economically the labor expended on their extraction and production is spent, the cheaper the product. The presence of an enterprise with sufficient working capital is a necessary prerequisite for its normal functioning in a market economy.

The material elements of circulating assets in the process of labor undergo changes in their natural form and physico-chemical properties. They lose their use value as they are consumed in production. New use-value arises in the form of products worked out from them, including those instruments of labor whose service life is less than one year.

Revolving production assets consist of three parts:

- production stocks;

- work in progress and semi-finished products of own production;

- deferred expenses.

Productive reserves - these are objects of labor prepared for launching into the production process; they consist of raw materials, basic and auxiliary materials, fuel, fuel, purchased semi-finished products and components, containers and packaging materials, spare parts for the repair of fixed assets.

Work in progress and semi-finished products of our own productioncooking- these are objects of labor that have entered the production process: materials, parts, assemblies and products that are in the process of processing or assembly, as well as semi-finished products of their own manufacture, not completely finished by production in some workshops of the enterprise and subject to further processing in other workshops of the same enterprise.

Future expenses- these are intangible elements of working capital, including the costs of preparing and developing new products that are produced in a given period (quarter, year), but are attributed to products of a future period (for example, costs for the design and development of technology for new types of products, for rearranging equipment and etc.)

The ratio between individual groups, elements of revolving funds and their total volume, expressed in shares or percentages, is called the structure of revolving funds. It is formed under the influence of a number of factors: the nature and form of organization of production, the type of production, the duration of the technological cycle, the conditions for the supply of fuel and raw materials, etc.

Circulating production assets in their movement are also connected with circulation funds, serving the area of ​​circulation. Circulation funds include finished products in warehouses, goods in transit, cash and funds in settlements with consumers of products, in particular accounts receivable.

Common in the structure of working capital of various enterprises and organizations is the predominance of funds placed in the sphere of production. They account for more than 70% of all working capital.

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Federal Agency for Railway Transport

State educational institution of vocational education

Irkutsk State Transport University

Transbaikal Institute of Railway Transport -

Branch of the state educational institution of higher professional education "IrGUPS" in Chita

Department of Economics

COURSE WORK

in the discipline "Enterprise Economics"

Completed:

Student gr. 4-09-UPK-589(3)

Granin I.S.

1. Determining the need for working capital and the effectiveness of their use

2. The cost of industrial products: essence, types, structure and ways to reduce

Task #10

Test

Bibliography

1. Determining the need for working capital andeffectiveness of their use

production working capital means cost price

Working capital of an enterprise is a cost estimate of working capital assets and circulation funds.

Current assets simultaneously function both in the sphere of production and in the sphere of circulation, ensuring the continuity of the production process and sales of products.

Circulating production assets are part of the means of production that are entirely consumed in each production cycle, fully transfer their value to the products produced and are fully reimbursed after each production cycle.

To determine the needs of the enterprise in working capital, the rationing of working capital is carried out. Under the rationing of working capital is understood the process of determining the economically justified needs of the enterprise in working capital, ensuring the normal flow of the production process.

Normalized working capital includes all current production assets (inventory, work in progress and semi-finished products of own production, deferred expenses) and ready-to-sell products.

Working capital ratios are calculated in physical terms (pieces, tons, meters, etc.), in monetary terms (rubles) and in days of stock. The general norm of working capital of an enterprise is calculated only in monetary terms and is determined by summing up the norms of working capital for individual elements:

F GENERAL \u003d F PZ + F WIP + F RBP + F GP, (1)

where Ф ПЗ - standard of production stocks, rub.;

Ф NZP - standard of work in progress, rub.;

F RBP - normative of expenses of future periods, rub.;

F GP - the standard for the stock of finished products in the warehouses of the enterprise, rub.

The standard of production stocks (F PZ) is determined by the formula:

where n is the number of different types of inventories;

N PZ i - the general norm of the stock for the i-th type of industrial stocks, days;

Р i - average daily consumption of the i-th type of inventories, rub.

where P i - the need for the i-th type of inventories for the planned period, rub.;

F - the number of days in the planning period (in the calculations of rationing, a year is taken - 360 days, a quarter - 90 days, a month - 30 days).

The general stock rate (N PZ i) determines for how many days the company must be provided with working capital for this type of production stock:

N PZ i \u003d N TEK i + N STR i + N POD i , (4)

where N TEK i - current stock rate, days;

N STR i - safety stock rate, days;

N PODG i - the norm of the preparatory (technological) stock, days.

The current stock is necessary to ensure the uninterrupted course of production at the enterprise in the period between successive deliveries. The norm of the current stock is taken, as a rule, equal to half of the average interval between two successive deliveries.

The safety stock is provided to prevent the consequences associated with supply failures. The safety stock rate is set either within 30-50% of the current stock rate, or equal to the maximum time for deviations from the supply interval.

A preparatory (technological) stock is created in those cases when raw materials and materials entering the enterprise require appropriate additional preparation (drying, sorting, cutting, picking, etc.). The norm of the preparatory stock is determined taking into account the specific conditions of production and includes the time for receiving, unloading, paperwork and preparation for the further use of raw materials, materials and components.

The standard for work in progress (F WIP) is equal to the sum of the standards for all types of products.

where m is the number of product items;

Ф NZP j - the standard of work in progress for the j-th type of finished product, rub.:

where N j is the volume of output of the j-th type of product in natural units;

S j - production cost of the j-th type of product, rub.;

T C j - the duration of the production cycle of the j-th type of product, days;

k NZ j - the coefficient of increase in costs for the j-th product.

The cost escalation factor (k HZj) characterizes the degree of readiness of products and is determined by the ratio of the average cost of work in progress to the production cost of finished products. In the case of a uniform increase in production costs, the cost increase factor is calculated by the formula:

where d is the share of one-time initial costs in the cost of production (consumption of raw materials and materials at the beginning of the manufacturing cycle).

With an uneven increase in production costs, the calculation of this coefficient becomes more complicated and requires studying the nature of the increase in costs by stages of the production cycle.

The norm of working capital of expenses of future periods (F RBP) can be determined by the formula:

F RBP \u003d R O - R PL + R C, (8)

where R O - the amount of funds in the expenses of future periods at the beginning of the planning period, rubles;

Р PL - expenses incurred in the planning period, rub.;

Р С - expenses written off to the cost of production in the planned period, rub.

The standard of working capital in stocks of finished products in the warehouses of the enterprise (F GP) is equal to the sum of the standards for individual types of finished products:

where Ф GP j is the standard of finished products for the j-th product, rub.

where N GP j is the norm of the stock of finished products for the j-th type of products, days.

The stock rate of finished products (N GP j) includes the time required for the acceptance of products from the shops, the assembly of the transport party, the packaging and shipment of products, and the preparation of documentation.

The most important indicators of the use of working capital in the enterprise are the turnover ratio of working capital and the duration of one turnover.

The turnover ratio of working capital shows how many turnovers were made by working capital for the period under review, and is determined by the formula:

where N RP - the volume of products sold for the period under review in wholesale prices, rubles;

F OS - the average balance of all working capital for the period under review, rub.

The average balance of working capital is determined by the formula of the average chronological.

The duration of one turnover in days, showing how long it takes for the enterprise to return its working capital in the form of proceeds from the sale of products, is determined by the formula:

The acceleration of the turnover of working capital leads to the release of working capital of the enterprise from circulation. On the contrary, a slowdown in turnover leads to an increase in the company's need for working capital.

The absolute release (involvement) of working capital is determined as follows:

where - the average balance of working capital in the base and compared periods, respectively, rub.

Relative release (involvement) of working capital occurs in case of acceleration (deceleration) of turnover and can be determined by the formula:

where N RP1 is the volume of product sales in the compared period in wholesale prices, rubles;

Duration of one turnover in days in the base and compared periods, days.

The acceleration of the turnover of working capital can be achieved through the use of the following factors: outstripping growth rate of sales compared to the growth rate of working capital; improvement of the supply and marketing system; reduction of material consumption and energy intensity of products; improving the quality of products and their competitiveness; reduction in the duration of the production cycle.

2. The cost of industrial products: essence,types, structure and ways of reducing

The cost of production is one of the most important economic indicators of the activity of industrial enterprises and associations, expressing in monetary terms all the costs of the enterprise associated with the production and sale of products. The cost price shows how much it costs the company to produce its products. The cost includes the costs of past labor transferred to the product (depreciation of fixed assets, the cost of raw materials, materials, fuel and other material resources) and the cost of remuneration of employees of the enterprise (wages).

There are four types of industrial production costs:

1) workshop - includes the costs of this workshop for the production of products;

2) general factory - shows all the costs of the enterprise for the production of products;

3) total - characterizes the costs of the enterprise not only for production, but also for the sale of products;

4) sectoral - depends both on the results of the work of individual enterprises, and on the organization of production in the industry as a whole.

Costs for the production of industrial products are planned and accounted for by primary economic elements and items of expenditure.

Grouping by primary economic elements allows you to develop a cost estimate for production, which determines the total need of the enterprise for material resources, the amount of depreciation of fixed assets, labor costs and other cash costs of the enterprise. This grouping is also used to coordinate the plan at cost with other sections of the business plan, to plan working capital and control their use.

In industry, the following grouping of costs according to their economic elements is accepted:

1. material costs - often for ease of use are divided into:

Raw materials and basic materials;

Auxiliary materials;

Fuel (from the side);

Energy (from the side).

2. depreciation of fixed assets;

3. salary;

4. deductions for social insurance;

5. other costs not allocated by elements.

Since industrial production, as a rule, is material-intensive, the costs of raw materials and basic materials occupy the largest share in the total cost. And although in the current conditions of the development of the industrial sector, when automation of technological processes is increasingly penetrating into industrial production and the share of depreciation of high-tech equipment and salaries of highly qualified personnel is growing, material costs do not give up their positions, still occupying the largest share in the cost structure.

The cost structure is in constant flux and is influenced by the following factors:

1.specificity (features) of the enterprise; Based on this, they distinguish:

Labor-intensive enterprises (a large share of wages in the cost of production);

Material-intensive (a large share of material costs);

Capital-intensive (a large share of depreciation);

Energy-intensive (a large share of fuel and energy in the cost structure);

2) the acceleration of scientific and technological progress - affects the cost structure in many ways, but the main influence is that under the influence of this factor the share of human labor in the cost of production decreases, and the share of materialized labor increases;

3) the level of concentration, specialization, cooperation, combination and diversification of production;

4) geographical location of the enterprise;

5) inflation and change in the interest rate of a bank loan.

The grouping of costs by economic elements shows the material and monetary costs of the enterprise without distributing them to certain types of products and other economic needs. It is impossible, as a rule, to determine the unit cost of production from economic elements. Therefore, along with the grouping of costs by economic elements, production costs are planned and accounted for by cost items (calculation items).

Grouping costs by expense items makes it possible to see the costs by their place and purpose, to know what the production and sale of certain types of products costs the enterprise. Planning and cost accounting by item of expenditure is necessary in order to determine under the influence of what factors this level of cost was formed, in what directions it is necessary to fight for its reduction.

In industry, the following nomenclature of the main calculation items is used:

2) materials;

3) purchased semi-finished products and components;

4) fuel and energy for technological purposes;

5) basic wages of production workers;

6) additional wages of production workers;

7) expenses for the maintenance and operation of equipment;

8) overhead (general shop) expenses;

9) general business (general factory, general factory) expenses;

10) other expenses;

11) distribution costs (commercial).

The first ten cost items form the factory cost. The total cost consists of the factory cost and non-production (mainly marketing) expenses.

The costs of enterprises included in the cost of production are divided into:

a) straight lines;

b) indirect.

Direct costs include costs directly related to the manufacture of products and taken into account in a direct way for its individual types: the cost of basic materials, fuel and energy for technological needs, the wages of key production workers, etc.

Indirect costs include costs that are impossible or inappropriate to directly attribute to the cost of specific types of products: workshop, general factory (general factory) costs, costs of maintaining and operating equipment.

In the context of the transition to a market economy, the role and importance of reducing the cost of production at the enterprise is increasing dramatically. From an economic and social standpoint, the value of reducing the cost of production for an enterprise is as follows:

In an increase in profits remaining at the disposal of the enterprise, and, consequently, in the emergence of opportunities not only in simple, but also in expanded production;

In the emergence of opportunities for material incentives for employees and the solution of many social problems of the enterprise team;

In improving the financial condition of the enterprise and reducing the risk of bankruptcy;

In the possibility of reducing the selling price of their products, which can significantly increase the competitiveness of products and increase sales;

In reducing the cost of production in joint-stock companies, which is a good prerequisite for paying dividends and increasing their rates.

The decisive condition for cost reduction is continuous technical progress. The introduction of new technology, the comprehensive mechanization and automation of production processes, the improvement of technology, the introduction of progressive types of materials can significantly reduce the cost of production.

A serious reserve for reducing the cost of production is the expansion of specialization and cooperation. At specialized enterprises with mass-flow production, the cost of production is much lower than at enterprises that produce the same products in small quantities. The development of specialization also requires the establishment of the most rational cooperative ties between enterprises.

Reducing the cost of production is ensured primarily by increasing labor productivity. With the growth of labor productivity, labor costs per unit of output are reduced, and, consequently, the share of wages in the cost structure also decreases.

The success of the struggle to reduce costs ensures, first of all, the growth of labor productivity of workers, which, under certain conditions, ensures savings on wages or an increase in output, which reduces the share of semi-fixed costs in the cost of a unit of output.

Of the greatest importance in the struggle to reduce the cost of production is the observance of the strictest regime of economy in all areas of the production and economic activity of the enterprise. Consistent implementation of the regime of economy at enterprises is manifested primarily in reducing the cost of material resources per unit of output, reducing the cost of servicing production and management, and eliminating losses from marriage and other unproductive expenses.

Material costs, as you know, in most industries occupy a large share in the structure of production costs, therefore, even a slight saving of raw materials, materials, fuel and energy in the production of each unit of production in the whole enterprise has a major effect.

The enterprise has the ability to influence the value of the cost of material resources, starting with their procurement. Raw materials and materials are included in the cost price at the price of their purchase, taking into account the cost of transportation, so the correct choice of material suppliers affects the cost of production. It is important to ensure that materials are received from such suppliers, which are located at a short distance from the enterprise, as well as to transport goods by the cheapest mode of transport. When concluding contracts for the supply of material resources, it is necessary to order materials that, in terms of size and quality, exactly correspond to the planned specification for materials, strive to use cheaper materials without reducing product quality at the same time.

The main condition for reducing the cost of raw materials and materials for the production of a unit of output is the improvement of product designs and the improvement of production technology, the use of advanced types of materials, the introduction of technically sound norms for the consumption of material assets.

Reducing the cost of production maintenance and management also reduces the cost of production. The size of these costs per unit of output depends not only on the volume of output, but also on their absolute amount. The smaller the amount of shop and general factory expenses for the whole enterprise, the lower the cost of each product, all other things being equal.

Reserves for reducing shop and general factory costs are, first of all, in simplifying and reducing the cost of the management apparatus, in saving on management costs. The wages of auxiliary and ancillary workers are also included in the composition of shop and general factory expenses to a large extent. Carrying out measures to mechanize auxiliary and ancillary work leads to a reduction in the number of workers employed in these works, and, consequently, to saving shop and general factory costs.

The reduction of workshop and general factory costs is also facilitated by the economical use of auxiliary materials used in the operation of equipment and for other household needs.

Significant reserves of cost reduction are concluded in the reduction of losses from marriage and other unproductive expenses. Studying the causes of marriage, identifying its culprit makes it possible to carry out measures to eliminate losses from marriage, reduce and most rationally use production waste.

Task #10

Determine the profit of the product, if the cost of one ton is 7650 rubles, the wholesale price is 9800 rubles. How will the profit change with a decrease in the cost of raw materials by 2%, if the share of raw materials in the cost is 68%.

Solution:

1) We determine the profit of the enterprise: 9800-7650 \u003d 2150 rubles.

2) Determine the amount of raw materials in the cost: 7650 * 68% \u003d 5202 rubles.

3) With a decrease in the cost of raw materials by 2%, the amount of raw materials in the amount of cost: 5202-(5202 * 2%) \u003d 5202-104.04 \u003d 5097.96 rubles.

4) After reducing the cost of raw materials by 2%, the cost is 7650-5202 + 5097.96 = 7545.96 rubles.

5) Profit 9800-7545.96 \u003d 2254.04 rubles.

Profit increased by 104.04 rubles. : 2254.04-2150 \u003d 104.04 rubles.

Test tasks

10. Own sources of formation of working capital of the enterprise include:

C) authorized and reserve capital, additional capital and reserve funds, lease obligations of tenants and targeted financial receipts, retained earnings.

20. Full cost price includes:

C) production cost and non-manufacturing costs.

30. Extensive use of fixed production assets characterizes:

C) shift coefficient;

E) coefficient of extensive use of equipment.

40. Reducing labor intensity contributes to:

C) the use of advanced technologies;

D) the introduction of high-performance equipment.

50. The finances of a firm are:

A) the system of monetary relations;

B) production resources;

C) the formation of cash income.

Bibliography

1. Baskakova, O.V. Economics of organizations (enterprises): textbook / O.V. Baskakova. - M.: "Dashkov and K", 2008.-272 p.

2. Dubrovin, I.A. Economics and organization of production: textbook / I.A. Dubrovin, A.R. Esina, I.P. Stukanov. - M.: "Dashkov and K", 2008.-202 p.

3. Sergeev, I.V. Enterprise economics: study guide / I.V. Sergeev. -2nd ed., revised. and additional - M.: Finance and statistics, 2003.-304 p.

4. Economics of the organization (enterprise): textbook / ed. N.A. Safronova. - 2nd ed. revised and additional - The Economist, 2004. - 618 p.

5. Economics of the organization (enterprise): textbook / ed. prof. B.N. Chernyshov, prof. V.Ya.Gorfinkel. - M.: Vuzovsky textbook, 2008. - 608 p.

6. Economics of an organization (enterprise): a textbook for universities / ed. prof. V.Ya. Gorfinkel. - 5th ed., revised. and additional .- M .: UNITI-DANA, 2008.-767 p.

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3. Main economic elements and performance indicators of manufacturing enterprises (firms)

3.4. Current assets of the enterprise

The concept, composition and structure of working capital. Working capital is a set of production working capital and circulation funds that is constantly in continuous motion. Therefore, working capital can be classified into working capital and circulation funds, that is, according to the spheres of turnover. Production circulating assets are objects of labor that are consumed during one production cycle and fully transfer their value to finished products.

circulation funds- these are the means of the enterprise that are associated with servicing the process of circulation of goods (for example, finished products).

By its economic nature, working capital is money invested (advanced) in working capital and circulation funds. The main purpose of working capital is to ensure the continuity and rhythm of production.

The composition and structure of working capital are shown in fig. 3.5.

working capital
Industrial working capital		circulation funds
BUT) Productive reserves	B) Funds in production costs	AT) Finished products	G) Cash and settlements
1. Raw material 2. Main materials 3. Purchased semi-finished products 4. Accessories 5. Auxiliary materials 6. Fuel 7. Container 8. Parts 9. Low-value and wearing items	10. Work in progress 11. Semi-finished products of own production 12. Deferred expenses	13. Finished products in the warehouse of the enterprise 14. Shipped (but unpaid) products	15. Settlements with debtors 16. Income assets (investments in securities) 17. Cash: - on settlement accounts - at the register

Rice. 3.5. Composition and classification of working capital

According to the purpose in the production process (by elements), working capital can be divided into the following groups.

BUT) Productive reserves. All elements of inventories (1-9) appear in three forms.

1. Transport stock - from the date of payment of the supplier's invoice until the arrival of the goods at the warehouse.
2. Warehouse stock is divided into preparatory and current.
2.1. A preparatory stock is created in cases where a given type of raw material or materials needs to be aged (the time of natural processes, for example, drying of lumber, aging of large castings, tobacco fermentation, etc.).
2.2. A running stock is created to meet the demand for materials and raw materials between two deliveries.

The size of the maximum current stock is determined by the formula

where Q max is the maximum current stock of the relevant material;
Q T - volume of average daily calendar consumption;
T p - the value of the interval of deliveries of this type of materials.

3. Safety stock is created in cases where there are frequent changes in the delivery interval, and depends on the specific conditions of the enterprise.

B) Funds in production costs.

10. Work in progress is a product (work) that has not passed all the stages provided for by the technological process, as well as products that are incomplete or have not passed testing and technical acceptance.
11. Semi-finished products of own production (castings, forgings, stampings, etc.).
12. Deferred expenses are expenses incurred in the reporting period, but related to the following reporting periods.

AT) Finished products are finished and manufactured products that have passed tests and acceptance, are fully completed in accordance with contracts with customers and comply with specifications and requirements.

13. Finished products in the warehouse of the enterprise.
14. Shipped, but not paid for products.

G) Cash and settlements (means of settlement):

15. Settlements with debtors (funds in settlements with debtors). Debtors are legal entities and individuals who have debts to this enterprise (this debt is called receivable).
16. Income assets are short-term (for a period not exceeding 1 year) investments of an enterprise in securities (highly liquid market securities), as well as loans provided to other business entities.
17. Cash means funds on current accounts and in the cash desk of the enterprise.

The structure of working capital is characterized by the proportion of individual elements in the total population and is usually expressed as a percentage.

Circulation and turnover of working capital

By the nature of participation in the production and trade turnover, circulating production assets and circulation funds are closely interconnected and constantly move from the sphere of circulation to the sphere of production and vice versa according to the following scheme:

D - PZ ... PR ... GP - D 1,

where D - funds advanced by an economic entity;
ПЗ - industrial stocks;
GP - finished products;
D 1 - cash received from the sale of products (the cost of consumed means of production, surplus product, value added);
...PR... - the process of circulation is interrupted, but the process of circulation continues in the sphere of production.

It is customary to distinguish three stages of the cycle.

1. Current assets act in cash and are used to create inventories - the cash stage.
2. Inventories are consumed in the production process, forming work in progress and turning into finished products.
3. As a result of the process of selling finished products, they receive the necessary funds to replenish inventories.

Then the circuit is repeated and thus the conditions are continuously created for the resumption of the production process.

The economic assessment of the state and turnover of working capital is characterized by the following indicators.

1. The turnover ratio (K about) characterizes the number of revolutions that working capital makes for a certain period of time:

where Q is the volume of products sold;
OS o - average balances of working capital.

The calculation of the average balance of working capital is carried out according to the formula for calculating the average chronological value.

2. Turnover in days (duration of one turnover) (T o) is determined by the formula:

where T p is the duration of the period.

The acceleration of turnover is accompanied by additional involvement of funds in turnover. The slowdown in turnover is accompanied by the diversion of funds from economic turnover, their relatively longer deadening in inventories, work in progress, finished products. Turnover indicators can be calculated both for the entire set of working capital, and for individual elements.

Sources of formation of economic funds

Sources of financing of economic funds consist of own and borrowed (borrowed) funds. Their structure is shown in Table. 3.3.

Table 3.3

Business assets of the enterprise
Main		negotiable
Sources of formation (financing)
Equity	Raised capital
Authorized capital Extra capital Reserve capital Reserve funds accumulation funds Targeted funding and income Lease obligations Undestributed profits Depreciation deductions	Long-term borrowings		Short-term borrowings
	Long-term loans Long term loans Long-term lease of fixed assets		Short term loans Short term loans Advances from buyers and customers Accounts payable
Long term capital			Short term capital

Sources of own funds (own capital)

Authorized capital determines the minimum amount of property that guarantees the interests of its creditors. The composition of the authorized capital depends on the organizational and legal form of the enterprise. The authorized capital is formed:
- from the contributions of participants (share capital) for business partnerships and for limited liability companies (LLC);
- par value of shares for a joint-stock company (JSC);
- property share contributions (production cooperatives or artels);
- statutory fund allocated by a state body or local self-government body.

Extra capital characterizes the amount of revaluation of non-current assets, which is carried out in the prescribed manner, as well as gratuitously received values ​​and other similar amounts.

Reserve capital is created in accordance with the law to cover unproductive losses and losses, as well as payments of income (dividends) to participants in the absence or insufficiency of the profit of the reporting year for these purposes.

Reserve funds are created to cover future expenses, payments, doubtful debts (to the enterprise), for the upcoming payment of vacations to employees, for the payment of remuneration based on the results of work for the year, to cover the upcoming costs of repairing fixed assets, etc.

accumulation funds- Funds used to finance capital investments.

Targeted funding and income- funds allocated to an enterprise by the state (municipality) or a sponsor for the implementation of certain purposeful activities.

Lease obligations- payment to the enterprise for fixed assets leased from it.

Undestributed profits- this is the profit remaining at the disposal of the enterprise after the payment of income (dividends) to participants and the repayment of obligations.

Depreciation deductions- part of the proceeds directed, as a rule, to accumulation funds, a repair fund, etc.

Sources of borrowed funds of the enterprise:
a) Long-term credits and loans. Long-term loans are the amount of debt of the enterprise to the bank on loans received for a period of more than 1 year. Long-term loans are debts on loans received from other enterprises for a period of more than one year.
b) Short term loans characterize the amount of debt on loans received from banks with a maturity of up to one year. Short-term loans show debt on short-term loans received from other enterprises and institutions with a maturity of up to one year.
in) Advances from buyers and customers are a form of lending.
G) Accounts payable. Creditors are legal and natural persons to whom enterprises have a certain debt. The amount of this debt is called accounts payable. Accounts payable may arise as a result of the existing system of settlements between enterprises, when the debt of one enterprise to another is returned after a certain period after the occurrence of debt, in cases where enterprises first record the occurrence of debt in accounting, and then, after a certain time, repay this debt due to lack of the company has cash to pay.
e) Long-term lease of fixed assets. Fixed assets and the most stable part of working capital are financed by long-term capital, the rest of working capital is financed by short-term capital.

With this ratio, funds invested in non-current assets, as well as in the creation of the necessary reserves, cannot be unexpectedly demanded by creditors and, thus, disrupt production and economic activities.

Leasing is a form of long-term lease associated with the transfer for use of equipment, vehicles and other movable and immovable property.

financial leasing provides for the payment by the lessee during the period of the contract of funds covering the full cost of depreciation of equipment or a large part of it, as well as the profit of the lessor. Upon the expiration of the contract, the lessee may return the leased object to the lessor or redeem the leased object at the residual value.

Operational leasing is concluded for a period less than the amortization period. Financial leasing acts in the form of lending, while operating leasing is similar to short-term lease and is used in progressive industries.

Direct financial leasing is preferable when an enterprise needs to re-equip its existing technical potential (that is, when it is necessary to replace existing fixed assets). The leasing company in this transaction provides full 100% financing of the acquired property. The property goes directly to the user, who pays for it during the lease term.

There are three parties involved in a leasing transaction (Figure 3.6): an enterprise (provider of fixed assets), a leasing company (payer), and a tenant (user).

In fact, leasing is a form of property acquisition combined with simultaneous lending and rent.

1 - the leasing company concludes a tripartite contract (agreement);

2 - supply of fixed assets to the tenant; 3 - the leasing company pays the cost of fixed assets to the supplier; 4 - rent payments by the tenant to the leasing company

Rice. 3.6. Participants of the leasing transaction

The advantages of leasing are that:
a) leasing allows the enterprise to obtain fixed assets and start their operation without diverting money from circulation and without significantly increasing accounts payable;
b) fixed assets during the term of the contract are on the balance sheet of the leasing company;
c) lease payments relate to the current expenses of the enterprise, i.e. are included in the cost and, therefore, reduce the amount of taxable profit;
d) the leasing company is not responsible for the quality of the leasing object and, in case of non-fulfillment of the terms of the contract, can always return the leasing object to itself;
e) for the supplier, leasing is a means to expand sales markets.

Return lease. The essence of leaseback is that the leasing company acquires property from the enterprise and immediately provides it with this property for rent with the right to repurchase it later. An alternative to secured mortgage lending.

Previous

The formation and use of various monetary funds to compensate for capital expenditures, its accumulation and consumption are the essence of the mechanism of financial management in the enterprise. The totality of the circulation in various parts of the capital of the organization for the period represents its full turn, or reproduction(simple or extended).

Main capital 1 includes: main production, long-term investments in progress, intangible assets and new long-term financial investments. Included in fixed capital are also capital investments in progress in fixed assets and equipment purchases. This is that part of the cost of acquiring and building fixed assets that has not yet become fixed assets, is not involved in the process of economic activity and is not subject to depreciation. These costs are also included in fixed capital because they have already been withdrawn from working capital.

Long-term financial investments- these are the costs for equity participation in the authorized capital of other enterprises, for the acquisition of shares and bonds on a long-term basis. Financial investments also include long-term loans issued to other enterprises against debt obligations, as well as the value of property transferred for long-term lease under the right of financial leasing. Long-term financial investments are reflected in the balance sheet page 160 (Appendix 3).

fixed assets- these are the funds invested in the totality of material values ​​related to the means of labor.

In the balance sheet, fixed assets are accounted for at residual value (Appendix 3, p. 120).

The cost of fixed assets is repaid gradually over their useful life through monthly depreciation charges, which are included in the costs of production or distribution for the corresponding reporting period (ie, the cost is transferred in installments). When evaluating the effectiveness of investments in fixed assets, when analyzing their economic condition and reproduction, it is assumed that the functional utility of fixed assets is maintained for a number of years, and their acquisition and operation costs are distributed over time. The moment of their renewal does not coincide with the moment of their reimbursement and unforeseen losses and damages may occur. The effectiveness of their use is evaluated depending on their type, ownership, nature of participation in the production process, as well as their purpose.

Depending on the nature of the participation of the OS in the process of expanded reproduction, they serve the production and non-production areas of the organization. Therefore, the effectiveness of their use is determined not only by economic, but also by social, environmental, and other factors. Depending on the business transaction, fixed assets and long-term investments in fixed assets have a multifaceted and versatile impact on the financial condition and performance of the organization.

Every business that conducts business must have working capital to ensure a continuous process of production and sale of products. OS, participating in the circulation of the means of a market economy is a single complex.

working capital - these are funds advanced to working capital and circulation funds. The essence of O.S is determined by their economic role, the need to ensure the reproduction process, including the production process and the circulation process.

Participating in the process of production and sale of products, O.S. make a continuous circulation, moving from the sphere of circulation to the sphere of production and vice versa.

O.S change their natural material form, passing through three phases:

O.S, having the original form of cash, are converted into inventories, i.e. move from the sphere of circulation to the sphere of production;

O.S participate in the production process and take the form of work in progress, semi-finished product, finished product;

Committed again in the sphere of circulation. As a result of the sale of finished products, OS again acquire the form of cash.

The difference between the cash proceeds and the funds originally spent determines the amount of the organization's cash income. Consequently, the O.S circuit is an organic unity of its 3 phases.

OS operates in only one production cycle and completely transfers its value to the newly manufactured product.

Sources of OS formation can be divided into own and borrowed.

Own funds organizations obtained from entrepreneurial activity and corporatization ensure financial activity and independence of economic entities.

Borrowed funds are attracted in the form of bank loans and cover the monetary needs for funds.

OS, placed in the reproductive process, are divided into:

Revolving production assets functioning in the production process;

Fund of circulation, functioning in the process of selling products and purchasing goods and materials.

The largest share is made up of OPF, which are involved in value creation.

Based on the principles of organization and regulation of production and circulation, OS can be divided into:

normalized - own OS, calculated according to economically justified standards;

non-standardized - means of circulation funds.

It is necessary to constantly monitor the rational use of non-standardized OS and prevent their unreasonable increase, which will speed up the turnover of OS in the sphere of circulation.

OS management is connected with their composition and placement with various business entities. The composition and structure of O.S are not the same. They depend on the form of ownership, the specifics of the organization of the reproduction process, relations with suppliers and buyers, the structure of production costs, and financial condition.

The condition, composition, structure of inventories, work in progress and finished products is an important indicator of the commercial activity of the organization.

Determining the structure and identifying trends in changes in the elements of OS allows you to predict the most effective parameters of the economic activity of the organization.

Working capital is reflected in Form No. 1 "Balance Sheet" in Section II "Current Assets", in Sections IV and V - "Long-term Liabilities" and "Short-Term Liabilities" (Appendix 3); in the form No. 5 "Appendix to the balance sheet" (Appendix 4).