The control system in any enterprise must becomplete and cover all stages of the business process: from the initial stages of the establishment of the enterprise, the initial acquisition of fixed assets and raw materials, to assess the results of its activities. It is the consideration of the results of the enterprise for a specific period and allows you to assess the effectiveness of its work. Since all indicators of the firm's activity have a monetary dimension, the procedure for such an evaluation is defined as an analysis of financial results. This procedure is carried out at each enterprise, usually at the end of the year, after the preparation of financial statements.

What is the analysis of financialresults of the firm? In fact, this is a fairly capacious computational work, the initial data for which are taken in the company's official financial statements, and on the basis of which additional indicators are calculated, such as the financial stability factor, the creditworthiness coefficient and many others. Analysis of financial performance of the organization can be carried out not only by internal users of financial statements (managers and employees of the enterprise), but also external - banks, potential investors, audit firms and so on. It is from the results of this analysis that their decision to provide credit or investment funds to the company, as well as the content of the audit conclusion, will depend.

When analyzing financial results, the following indicators are usually calculated:

- Indicators of financial stability - determine the ability of the enterprise to provide its own needs with the means at its disposal;

- Indicators of profitability of the enterprise - show how profitable the use of assets of varying degrees of liquidity in the firm's activities;

- Indicators of business activity - concernthe speed of wrapping up various kinds of assets. Indicators of business activity show the duration of the production cycle of the enterprise, and the shorter it is, the more effectively the company's work is built;

- Liquidity indicators - illustrate the relationship between different groups of assets, depending on their ability to be quickly converted into money;

- Indicators of solvency - show how an enterprise is able to meet its obligations to counterparties.

As a rule, these five points areanalysis of financial results of the enterprise. After all the calculations have been made, it is time to characterize them - and it is the comments to the calculations that play a decisive role in the users' compiling of this analysis and their acceptance of those or other decisions. As a rule, the best financial analysts are invited to conduct the analysis, since the fate of the firm can depend on the correct interpretation of the analysis results.

It is also important to remember that the majoritydomestic enterprises, the analysis of financial results can not always be considered reliable because of their so-called "black" accounting. The existence of an invisible part of the official reporting of the company may be the reason that the actual state of affairs may differ materially from that described in the statement of financial results. That is why in the CIS countries potential large investors and creditors rarely make their decisions based only on the financial statements - often such decisions are made on the basis of personal agreements with the management of the company-recipient. Only a radical reform of the existing economic system, especially with regard to taxation, can correct this situation.