Essence, classification, composition.

In terms of their composition, current assets are divided into:

  1. Production means;
  • production materials (seeds, containers);
  • incomplete production (growing cattle, plowing plowing, etc.);
  • expenses for the future (summer camps, advanced rent, development of new products and other expenses).

2. Means of circulation.

  • shipped, but, unpaid products;
  • receivables;
  • money on the current account, as well as the companies that are on hand.

In terms of turnover, distinguish:

  • means that are in the sphere of production;
  • means that are in the sphere of circulation.

By sources of formation and replenishment of funds are:

  • own;
  • borrowed.

The features of planning means distinguish:

  • normalized;
  • nonnormalizable.

Indicators of efficiency of using negotiablemeans represent the whole system of economic indicators, and, first of all, circulating assets are characterized by such indicator, as оборачиваемость.

The turnover is the duration of a fullturnover of funds, from the moment of their acquisition and ending with the release, as well as the sale of finished products. It is not the same for different enterprises. Depends on what industry they belong to, and within the same industry - from the organization of production, the sale of products. In an agricultural enterprise - from specialization, etc.

Analysis of the use of current assetsis made with the help of such indicators as the duration of the turnover, the balance (average annual), the coefficient of turnover, the coefficient characterizing the turnover of circulating assets in circulation.

The above indicators of the use of current assets of the enterprise are determined by the formulas:

Formula 1

T = Oc * nBp

Where: Т - duration of turnover, in days;

Os is the balance of circulating assets (average annual), in rubles;

n is the number of days in the period;

Bp - revenue, in rubles.

Formula 2

O = 12O1 + O2 + 12Onn-1

Where: О1, О2 - the balance of funds on the 1st day of the month, in rubles.

Circulating assets are used better if there is a reduction in the duration of turnover.

Formula 3

Cob = BpOc

Kob = nT

Where: B is revenue, in rubles;

Os is the average annual balance, in rubles.

The higher the Cob, the more effective the means are used.

Formula 4

Ks = 1Kob

Where: Кз - load factor (funds in circulation).

At acceleration оборачиваемости from a turn resources are released. When decelerating, additional resources are brought into circulation.

The level of profitability, the effect of financial leverage, and the profitability of capital turnover are indicators of the efficiency of the use of working capital.

The level of profitability is calculated by the product, which is realized, and expressed in percent.

Formula 5

Ur = VP-SS * 100%

Where: VP - gross output, in monetary units;

C - cost of production, in monetary units.

Currently, the term "capital" is used. To assess how borrowed funds are used, you can apply an indicator called the financial leverage effect, which shows whether it is worth borrowing capital.

Formula 6

Efr = POA-CP * 1-KNSkSk

Where: ROA - return on equity before tax, in%;

JV - loan interest;

Кн - coefficient of taxation;

ЗкСк - the ratio of borrowed capital to loan capital.

Efr demonstrates how much interest will increase own capital due to the fact that borrowed funds are attracted to the turnover of the enterprise. It occurs when PAA> SP.

Let's consider such indicators of efficiency of use of circulating assets, as profitability of a turn and the capital.

The profitability of the turnover is equal to the profit divided by the proceeds from the sales, multiplied by 100%.

The profitability of capital is the profit divided by capital and multiplied by 100%.

Using the indicators of efficiency of the use of current assets, we can once again confirm that the economic efficiency at the enterprise is actually increased if certain conditions are met:

  1. When applied to production activities, progress is made.
  2. With the growth of labor productivity.
  3. In the organization of strict accounting and control.
  4. With a reduction in the cost of production (cost reduction).
  5. When developing new markets for the sale of products.
  6. With the improvement of quality and increase in the number of products.
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