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The ratio of accounts receivable to total assets shows. What is the ratio of accounts receivable to total assets? Accounts receivable accounting

Share of accounts payable in current assets = (Accounts payable/Current assets) x 100

The share of accounts payable in current assets = 12456:79836x100 is 15.6% at the beginning of the year and 12070:80575 = 14.9% at the end of the reporting year, which indicates a decrease in accounts payable by 0.7%. The repayment period has been reduced by 9 days; in general, accounts payable will be repaid in the near future. This indicator indicates the “quality” of accounts payable.

The financial stability of the enterprise will depend on how it built mutual settlements with its debtors (debtors) in the current period. A necessary condition for the stability of activity is to obtain a loan on the same terms (or better) on which the enterprise itself provides it. Accounts payable at the end of the period decreased, which may have a positive effect on the future activities of the enterprise.

To obtain more reliable information, you should use monthly data on accounts payable balances reflected in order journals No. 4 “Short-term bank loans”, No. 6 “Settlements with suppliers”, No. 8 “Settlements on advances received”, “Settlements with the budget”, No. 10 “Calculations for wages” and “Calculations for social insurance and security” or in statements replacing them.

    1. Analysis of the efficiency of property use

The functioning of an enterprise depends on its ability to generate the necessary profit. It should be borne in mind that the management of the enterprise has significant freedom in regulating the amount of financial results. Thus, based on the adopted financial strategy chosen when forming the accounting policy, the enterprise has the opportunity to increase or decrease the amount of balance sheet profit by choosing one or another method of assessing property, the procedure for writing it off, setting the period of use, etc.

Accounting policy issues that determine the financial result of an enterprise primarily include the following [23, p. 15]:

    choosing a method for calculating depreciation of fixed assets;

Choosing a method for assessing materials released and spent on the production of products, works, services;

Determining the method of calculating depreciation for low-value and high-wear items when they are put into operation;

The procedure for attributing certain types of expenses to the cost of products sold (by directly writing them off to cost as expenses are incurred or through the preliminary formation of reserves for upcoming expenses and payments);

The composition of costs attributable directly to the cost of a specific type of product;

In general, the performance of any enterprise can be assessed using absolute and relative indicators.

    There is and is used a system of performance indicators, the composition of indirect (overhead) costs and the method of their distribution, etc.

It is quite clear that an enterprise, once choosing one or another method of forming the cost of goods sold and profit, will adhere to it throughout the entire reporting period (at least a year), and all further changes in accounting policies must have good reasons and certainly specify activities, among them return on assets (property) ratio (form №2).

This ratio shows how much profit the company receives from each ruble invested in assets.

Return on assets (property) = (9670:80205.5)x100 was 12.1% at the beginning of the year and 4823:80205.5x100 = 6% at the end of the year, which indicates a doubling of return on assets. Therefore, we can conclude that the enterprise receives 6% profit from every ruble invested in assets, this is a good industry average, which indicates the good performance of the enterprise.

For analytical purposes, the profitability of the entire set of assets and the profitability of current assets are determined by the formulas:

An indicator reflecting the efficiency of using funds invested in an enterprise is return on investment:

Return on investment = 14212x100/79836-15467 is 22.07% at the beginning of the year and 6788x100/80575-14167=10.22% at the end of the year. The return on investment indicator is considered in foreign financial analysis practice as a way to assess the “skill” of investment management. It is believed that since the management of the company cannot influence the amount of income tax paid, for a more accurate calculation of the indicator, the amount of profit before tax is used in the numerator. Capital investors (shareholders) invest their funds in an enterprise in order to receive a profit from these investments, therefore, from the point of view of shareholders, the best assessment of business results is the presence of a return on invested capital. The return on invested capital, also called return on equity, is determined by the formula:

Return on equity = (4823:36406)x100 is 13.25% of total capital.

The return on equity indicator establishes the relationship between the amount of invested own resources and the amount of profit received from their use, i.e. The more we use our own capital, the more profit we get.

Another important coefficient - profitability of products sold - is calculated using the formula:

Profitability of products sold = (4823:68220) x 100 is equal to 7.07% at the end of the reporting year and (9670:59971) x 100 = 16.1% at the beginning of the year. The value of this coefficient shows how much profit the enterprise has from each ruble of products sold. From these calculations we see that there is a downward trend, which suggests a reduction in demand for the company’s products.

A decrease in the profitability ratio of products sold may also be caused by changes in the sales structure, a decrease in the individual profitability of products included in the products sold.

There is a relationship between indicators of return on assets (property), asset turnover and profitability of products sold, which can be presented as a formula:

Return on assets = 0.85x16.1 is 13.7% at the beginning of the year and 0.74x7.07 = 5.2% at the end of the year. In other words, the enterprise’s profit received from each ruble of funds invested in assets depends on the rate of turnover of funds and on the share of net profit in sales revenue. Also effective in its analytical capabilities is the vertical analysis of the financial results report and their use, which can be presented in the form of an analytical table (Table 9). Its purpose is to characterize the dynamics of the share of the main elements of the enterprise’s gross income.

Analysis of financial results Table 9

Index

1. Total income and receipts (line 010+line 060+line 080+line 090+line 120)

2. General expenses of financial and economic

Activities

(p.020+p.030+p.040+p.070+p. 100+p. 130)

3. Revenue from sales (line 010)

4. Costs of production and sales of products:

Cost of production (line 020)

Business expenses (line 030)

5. Profit (loss) from sales (line 050)

6. Other income (line 090+line 120)

7. Profit (loss) of the reporting period (p. 140)

8. Income tax (tr. 150)

Based on the calculations carried out, the following conclusions can be drawn:

An increase in sales revenue indicates that the company is receiving more and more income from its core activities;

Reducing overall costs and expenses for production and marketing of products is a positive trend, if the quality of the product does not suffer;

The growth in profit from sales is favorable and indicates an increase

profitability of products and a relative reduction in production and distribution costs;

Compared to last year, profit decreased, although sales turnover increased. This is caused by rising inflation and increasing prices for jewelry.

The profit tax indicator characterizes the share of balance sheet profit,

transferred to the budget in the form of mandatory contributions, a decrease in this indicator has a positive effect on the activities of the enterprise.

"...The share of overdue accounts payable in liabilities characterizes the presence of overdue accounts payable and its share in the total liabilities of the organization and is determined as a percentage as the ratio of overdue accounts payable to total liabilities..."

Source:

Decree of the Government of the Russian Federation of June 25, 2003 N 367 “On approval of the Rules for conducting financial analysis by an arbitration manager”

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3 . Calculation of financial ratios.

Table 3 Calculation of financial ratios.

Coefficient name

Odds value

Change

Absolute

Relative %

Absolute liquidity ratio

Current ratio

The indicator of the security of the debtor's obligations with its assets

Degree of solvency for current obligations

Autonomy coefficient

Provision ratio of own working capital

Share of overdue accounts payable in liabilities

Receivables to total assets ratio

Return on assets

Net profit margin
  1. Absolute liquidity ratio– decreased by 89% (from 0.084 to 0.009), which indicates a significant deterioration in the solvency of the enterprise. This was due to the lack of short-term financial assets at the end of the period, as well as an increase in current liabilities due to an increase in the volume of loans and credits and an increase in accounts payable. The coefficient shows that only 0.009 of the current liabilities can be repaid almost immediately, which indicates the low solvency of the enterprise.
  2. Current ratio– decreased by 25% (from 0.79 to 0.59) due to the fact that current liabilities are growing faster than liquid assets, and the growth of liquid assets is due to an increase in accounts receivable. An indicator value below 1 indicates that the company cannot pay off its current obligations without damaging the production process.
  3. Indicator of security of the debtor's obligationshis akTivami– increased by 1.3% (from 1.40 to 1.42) due to a slight increase in assets (due to an increase in accounts receivable and raw material inventories) and a decrease in liabilities, however, there was an increase in short-term liabilities, which is not positive. The low value of the indicator indicates that not only all current assets, but also most of the non-current assets of the enterprise are formed from borrowed capital.
  4. Degree of solvency for current obligations changed from 6.25 to 7.73 months. This was due to current liabilities growing faster than revenue. This indicator value (more than 3) indicates that, due to current activities, the company cannot pay off its debts within the time limits established by bankruptcy legislation.
  5. Autonomy coefficient increased from 0.35 to 0.37. This coefficient value (less than 0.5) indicates that the enterprise exists mainly due to borrowed funds, which indicates the unstable financial position of the enterprise.
  6. Provision ratio of own working capitalmeans changed over the period from -2.57 to -1.93. This indicator value indicates that the company does not have its own working capital, which is an extremely negative factor.
  7. Share of overdue accounts payable in liabilities changed from 0.49 to 0.30. Despite the decrease over the period, this indicator value indicates the risk of bankruptcy of the enterprise.
  8. Receivables to total assets ratio changed over the period from 0.10 to 0.13. The share of receivables must be reduced, since these are funds withdrawn from the direct production process.
  9. Return on assets decreased over the period from 0.005 to 0.003. Such a low value of indicators indicates the unsatisfactory economic activity of the enterprise, since per ruble of total assets there is less than a penny of net profit.
  10. Net profit margin decreased over the period from 0.03 to 0.012. Such a low indicator indicates the ineffective activity of the enterprise.

The deterioration of the indicator as of October 1, 2008 was due to the formation of receivables with a maturity period of more than 12 months. In the amount of 5.3 million rubles.

Share of overdue accounts payable in liabilities– characterizes the presence of overdue accounts payable and its share in the total liabilities of the organization and is determined as a percentage as the ratio of overdue accounts payable to total liabilities.

The analyzed enterprise has no share of overdue accounts payable in its liabilities (Diagram 5).

Receivables to total assets ratio– is defined as the ratio of the sum of long-term receivables, short-term receivables and potential current assets subject to return to the total assets of the organization.

This indicator reflects the share of expected payments - those funds that can be counted on in the short and long term in the total assets of the enterprise. A high share of accounts receivable reflects ineffective work with debtors, thereby depriving the enterprise of its most liquid assets.

According to the values ​​of the indicator “Ratio of accounts receivable to total assets,” an insignificant amount of accounts receivable was identified at the analyzed enterprise, the share of which in total assets is:

In the 2nd and 3rd quarters of 2008, the analyzed ratio decreased from 2.19% to 0.71% and 0.17%, respectively, due to a decrease in profit for the quarter.

In some periods (Q1, Q2, Q3 2007, Q1 07, Q4 0.7) as a result of negative net profit, assets are not profitable, i.e. assets are not capable of generating profit.

Considering that the assets have not been profitable for several quarters, and extremely low profitability in 2008 (up to 1%), we can conclude that the level of management of the enterprise is at a low level. Unprofitable assets can lead to difficulties in obtaining credit resources, and even if the company manages to obtain loans, they will only aggravate the problems and increase the debtor's obligations.

Net profit margin – characterizes the level of profitability of the organization’s economic activities. Shows how much profit accrues per unit of products sold. It is measured as a percentage and defined as the ratio of net profit to revenue (net).

An increase in the net profit rate means an increase in the efficiency of the enterprise's economic activities.

The dynamics of changes in the “Net profit margin” indicator for Zheleznodorozhnaya is shown in Diagram 6.

Latest abstracts

Current presentations

10.8. Official old one.

According to this methodology, there is an official system of criteria for assessing the insolvency of an enterprise, consisting of the following coefficients:

1) Current ratio.

To tek.l. = 1.0055; Norm≥2

2) SOS security ratio

To provide SOS = -0.1934; Norm ≥ 0.1

Because current liquidity and security ratios SOS does not correspond to the established standard values, then we calculate the coefficient of solvency restoration:

The value of this coefficient is less than 1, which allows us to conclude that in the next 6 months the company does not have the opportunity to restore its solvency.

10.9. Two-factor model for predicting bankruptcy.

This model allows us to assess the risk of bankruptcy of a middle-class industrial enterprise.

Z= 0.3872 + 0.2614 Ktl + 1.0595 Kfn,

Where K fn is the coefficient of financial independence

Z=0.3872 + 0.2614*1.0055 + 1.0595*0.8328=1.53239

Since Z=1.53239, that is 1.3257

solvency is considered secured

According to the calculations carried out, it is impossible to give an accurate assessment of the probability of bankruptcy, because The results obtained from using different techniques differ. Thus, Savitskaya’s technique, Saifulin and Kadykov’s technique, a two-factor model for predicting bankruptcy and the old official technique indicate that the probability of bankruptcy is very high. At the same time, all other methods indicate a stable financial position of the enterprise and a low probability of bankruptcy.

This is due to the fact that the calculations are based on different balance sheet items. But this is not always true, since a company’s lack of funds in its current account is not always a sign of bankruptcy. Perhaps the enterprise is profitable, but simply has difficulties in working capital.

The company has a high level of accounts payable, which is 2 times higher than accounts receivable (with a standard of 0.6). In the structure of accounts payable, the largest share is occupied by debts for taxes and fees (47.28%), as well as to suppliers and contractors (35.53%). Also in the balance sheet of the enterprise there is a significant share of highly liquid, but not income-generating, funds.

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Thus, the company has an unfavorable situation with accounts payable. Therefore, it is necessary to implement measures aimed at reducing the amount and improving the structure of accounts payable.

Table 11 - Measures to improve the financial condition of enterprises, thousand rubles.

Based on the analysis of the enterprise’s reporting, calculation of liquidity and financial stability indicators, as well as determining the probability of bankruptcy of the enterprise using various methods, the following conclusions can be drawn. The company has financial independence, financial stability, well-secured solvency, and therefore has a stable position in the market, enjoys the trust of investors and counterparties, as evidenced by the large share of long-term liabilities in the structure of raised funds, high liquidity and financial stability indicators. The enterprise has a balanced structure of non-current and current assets, which indicates a rational organization of the production process. The only thing that deserves special attention is accounts receivable, which has a significant share in the assets, and its structure is not satisfactory. But, taking into account the financial stability of the enterprise, we can conclude that the situation is not critical, and, therefore, the enterprise has good long-term prospects.

Receivables to Total Assets Ratio

defined as
the ratio of the sum of long-term receivables, short-term receivables and potential current assets subject to
return to total assets
organizations. Decree of the Government of the Russian Federation dated June 25, 2003 No. 367 “On approval of the Rules for conducting financial
analysis"

View value Receivables to Total Assets Ratio in other dictionaries

Relationship- relationships
communications
Synonym dictionary

Relationship— Mutual communication, a friendly, love or business relationship between someone.
Amikoshon (obsolete colloquial), amorous (colloquial), impeccable, unceremonious, close, hostile.
Dictionary of epithets

Relationships Mn.— 1. Connections that arise between people, societies, countries in the process of communication and activity. 2. The nature of mutual relations, communication with someone.
Explanatory Dictionary by Efremova

International relationships— — a system of political, economic, scientific, technical, cultural, military, diplomatic and other stable relationships and interactions of states and peoples.
Political dictionary

Interpersonal relationships- - a special type of social relations; implementation of impersonal relationships in activities, acts of communication and interaction of individuals; fragments of social relations.
Political dictionary

Interethnic Relations— — interaction of several socio-ethnic communities, promoting the development of relations between people of different nationalities.
Political dictionary

National Relations- - these are relations between the subjects of national-ethnic development - nations, nationalities, national groups and their state entities. These relationships.
Political dictionary

Relations Political— — a form of interaction between political subjects, a type of social relations (along with economic, social and spiritual) associated with conquest and assertion.
Political dictionary

Relations International— — a set of economic, political, diplomatic, military, cultural ties and relationships between peoples, states and associations of states.
Political dictionary

Relations Political— — interactions of political subjects, during which there is an exchange of ideas, volitional impulses, and information resources.
Political dictionary

Political Relations as a Structural Element of Politics— — the relationship of social groups between themselves and the institutions of power.
Political dictionary

Political Relations— — connections that are reproduced between people in politics. The basis for isolating political relations is the criterion of the presence of a special, specific type of social activity.
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Relations of production— — relationships that arise between people in the process of producing material goods. Because production involves three main elements - the worker and his worker.
Political dictionary

Commodity-Money Relations- - social relations that arise between people in the process of production and sale of goods, i.e. items intended for sale. express property relations.
Political dictionary

Index— indicator, m. (book). 1. A number or letter indicating the degree to which a given quantity is raised (mat.). degrees. 2. A phenomenon or event by which one can judge.
Ushakov's Explanatory Dictionary

Index- -I; m.
1. Data by which one can judge the development, progress, properties and qualities of something. High, low indicators. Sports, production indicators, agrochemical.
Kuznetsov's Explanatory Dictionary

International Debt Balance— — all monetary and property claims and obligations of the country in relation to other states at a certain moment, regardless of time and deadlines.
Legal dictionary

Currency Relations- - monetary connections in the implementation of foreign trade, provision of economic and technical assistance, transactions for the purchase of currency, etc. Participants in the V. o. are.
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Foreign Economic Relations— — one of the spheres of jurisdiction of the Russian Federation, enshrined in paragraph “l” of Art. 71 of the Constitution of the Russian Federation. V. e. O. can be divided into three large blocks: the general strategy of state participation and various ones.
Legal dictionary

Group Indicator— — a generalizing, summary economic indicator that combines, synthesizes particular indicators and characterizes the entire group of indicators as a whole.
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Cases Concerning Debt Collection under Loan Agreements (Credit Agreements)— The difference between the names of a loan agreement and a credit agreement is conditional, since it is associated exclusively with the special legal status of the creditor in the loan agreement.
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Cases on Debt Collection under a Loan Agreement from a Borrower— The subject of proof in cases of debt collection under a loan agreement from a borrower includes the following facts: 1) conclusion of a loan agreement (Articles 807, 808 of the Civil Code of the Russian Federation). According.
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Cases on Debt Collection under a Loan Agreement from the Borrower and the Guarantor— The subject of proof in cases of debt collection under a loan agreement from the borrower and guarantor includes the following facts: 1) conclusion of a loan agreement (Article 807.
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Cases on Debt Collection under a Loan Agreement from a Borrower— The subject of proof in cases of debt collection under a loan agreement from a borrower includes the following facts: 1) conclusion of a loan agreement (Articles 807, 819.
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Cases on Debt Collection under a Loan Agreement from the Borrower and the Guarantor— The subject of proof in cases of debt collection under a loan agreement from a borrower and guarantor includes the following facts: 1) conclusion of a loan agreement.
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Cases Concerning Debt Collection under a Loan Agreement with Foreclosure of Mortgaged Property— The subject of proof in cases of debt collection under a loan agreement with foreclosure of the pledged property includes the following facts: 1) conclusion.
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Cases Regarding Determination of Alimony Debt- In Art. 113 of the RF IC establishes the procedure for determining alimony debt for the past period of time within the framework of enforcement proceedings. If the definition
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Cases Concerning Determination of Alimony Debt by a Bailiff- In accordance with Art. 113 of the RF IC, the amount of debt for alimony paid for minor children in proportion to the earnings (other income) of the parents.
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Cases on Exemption from Payment of Alimony Debt— When alimony debt arises for good reasons and it is impossible to pay it off due to the financial and marital status of the debtor, the legislator.
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Single Competitiveness Indicator— — a numerical assessment showing the ratio of a specific technical parameter of a product to an economic indicator at which the consumer’s needs are fully satisfied.
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1.8 Financial stability indicators of Eurorosmebel LLC

Autonomy coefficientTO auto = Own funds/Total assets (liabilities) (formula 9)

The autonomy (financial independence) coefficient shows the share of the organization's assets that are provided by its own funds, and is defined as the ratio of its own funds to total assets. This indicator indicates a fairly high value of the independence coefficient. Thus, we can conclude that most of the enterprise’s property is formed from its own capital. Theoretically, it is believed that if this ratio is greater than or equal to 50%, then the risk of creditors is minimal: by selling half of the property formed from its own funds, the enterprise will be able to pay off its debt obligations.

Equity ratio (Koss) characterizes the sufficiency of the enterprise's own working capital necessary for financial stability. Standard for value Koss > 0.1 (10%) was established by Decree of the Government of the Russian Federation of May 20, 1994 No. 498 “On some measures to implement legislation on the insolvency (bankruptcy) of enterprises” as one of the criteria for determining an unsatisfactory balance sheet structure along with the current liquidity ratio. Formula for the equity ratio based on balance sheet data:

Koss = (line 1300 - line 1100)/ line 1200 (formula 10)

Koss= (2240-1570)/690= 670/690=0,97 (10)

Share of overdue accounts payable in liabilities (D right red rear ) = Accounts payable/Balance (formula 11)

The share of overdue accounts payable in liabilities characterizes the presence of overdue accounts payable and its share in the total liabilities of the organization. It is defined as a percentage as the ratio of overdue accounts payable to total liabilities. For this organization, the share of overdue accounts payable is less than 1%, which is a good indicator.

The assessment system for analyzing and diagnosing the financial viability of enterprises should include indicators that fully reveal all aspects of financial and economic activity, and they should not duplicate each other. In addition, the information base of the analysis must meet the requirements of accessibility, not be overly complex and cumbersome, but at the same time provide accurate and objective research data.

The assessment of the financial condition of the debtor enterprise is carried out according to a standard set of the following coefficients:

  • · absolute liquidity ratio (/TO);
  • · current liquidity ratio (AL/TO);
  • · indicator of the security of the debtor's obligations with its assets (AL+AV)/ZK;
  • · degree of solvency for current obligations (TO/N) (monthly average);
  • · coefficient of autonomy (financial independence) (SS/A);
  • · coefficient of provision with own working capital (SS-AV)/JSC;
  • · share of overdue accounts payable in liabilities (/P);
  • · indicator of the ratio of accounts receivable to total assets (R/A);
  • · return on assets (Р/АЧ100);
  • · net profit rate (/),

where are the most liquid assets; TO - current liabilities; AL - liquid assets; AB - non-current assets; ZK - borrowed capital; N - average monthly revenue; СС - own funds; A is the total amount of assets; - overdue accounts payable; P - total amount of liabilities; DZ - accounts receivable; P - profit; - net profit; - revenues from sales.

Absolute liquidity (solvency) ratio

It is the most stringent criterion for the liquidity of an enterprise; shows what portion of short-term debt obligations can be repaid immediately if necessary.

In domestic practice, the actual average values ​​of the liquidity ratios considered are, as a rule, significantly lower than the values ​​mentioned in Western literature. Since the development of industry standards for these coefficients is a matter of the future, in practice it is desirable to analyze the dynamics of these indicators, supplementing it with a comparative analysis of available data on enterprises that have a similar orientation of their economic activities.

For 2010:

For 2011:

Conclusion - The absolute liquidity ratio decreased by 0.6 over the year, which means that the portion of short-term borrowed obligations that can be repaid immediately if necessary decreased in 2011. The value of the coefficient in 2011 is equal to the standard value, but the fall indicates a deterioration in the financial position of Aviastar-SP CJSC.

Current ratio. Gives a general assessment of the liquidity of assets, showing how many rubles of the enterprise's current assets account for one ruble of current liabilities.

The logic for calculating this indicator is that the company pays off short-term liabilities mainly at the expense of current assets; therefore, if current assets exceed current liabilities, the enterprise can be considered to be operating successfully (at least in theory).

The size of the excess is set by the current liquidity ratio. The value of the indicator may vary by industry and type of activity, and its reasonable growth in dynamics is usually considered as a favorable trend.

In Western accounting and analytical practice, the critical lower value of the indicator is given - 2; however, this is only an indicative value, indicating the order of the indicator, but not its exact normative value.

For 2010:

For 2011: 1.98=2

Thus, the value of the coefficient for 2010 is included in the normative value, and for 2011 it is equal to 2, and this is a critical lower value.

An indicator of the security of the debtor's obligations with its assets. The ratio of security of the debtor's obligations with all its assets is characterized by the amount of the organization's assets per unit of debt.

Obviously, the value of this indicator should be close to 1.0 or higher, this indicates how much the enterprise’s own assets cover its debt obligations.

Formula for calculating the ratio of coverage of liabilities with all assets:

For 2010:

For 2011:

Thus, this indicator for both years has a normative value.

Degree of solvency for current obligations. The ratio is calculated as the ratio of current liabilities to average monthly revenue. Shows how many months the company needs to cover its current obligations through operating activities while maintaining the existing level of income and using the proceeds only to pay off these obligations. The standard value is greater than 3. Formula:

For 2010:

For 2011:

Thus, in 2011 the period for covering current obligations increased compared to 2010.

Autonomy (financial independence) coefficient shows how independent the organization is from creditors. The lower the value of the coefficient, the more dependent the organization is on borrowed sources of financing, the less stable its financial position. Normal value: 0.4-0.6. The source of data is the company's balance sheet (form No. 1).

For 2010:

For 2011:

The values ​​for both years are not standard, so we can conclude that the company does not have a sufficiently stable financial position. And also that in 2011, Aviastar-SP CJSC became increasingly dependent on borrowed funding.

Availability ratio of own sources of financing characterizes the availability of own working capital necessary for the financial stability of the organization. Recommended value 0.1.

Formula for calculating the ratio of provision with own sources of financing:

For 2010: 0.12

For 2011:

Thus, the value of this coefficient in 2010 exceeded the norm, but in 2011 it became much lower than the norm, which indicates that the enterprise is not provided with its own working capital.

Share of overdue accounts payable in liabilities characterizes the presence of overdue accounts payable and its share in the total liabilities of the organization. It is defined as a percentage as the ratio of overdue accounts payable to total liabilities. The normal value of this ratio should not be more than 20%. Calculated as follows:

For 2010: =0.13=13%.

For 2011: =17%.

Thus, the share of accounts payable in total liabilities for both years does not exceed the norm, but in 2011 it increased compared to 2010.

The ratio of accounts receivable to total assets - determined by the formula:

This indicator reflects the share of expected payments - those funds that can be counted on in the short and long term in the total assets of the enterprise. A high share of accounts receivable reflects ineffective work with debtors, thereby depriving the enterprise of its most liquid assets. In world practice, it is generally accepted that a normal coefficient value of less than 0.4, an indicator value of 0.4 or more is undesirable, and a value of 0.7 or more is considered alarming.

For 2010:

For 2011:

That is, the values ​​of this indicator for 2010 and 2011 are normal, in addition, in 2011 it even fell.

Return on assets. The return on assets formula shows the profitability and efficiency of an enterprise. To calculate return on assets, the value of the enterprise's assets is cleared of borrowed funds. Companies in the same industry are often compared using return on assets. Return on assets (formula):

Standard: return on net assets based on net profit must ensure a return on the shareholders' funds invested in the enterprise. The higher the coefficient values, the higher the efficiency of the enterprise and the higher its effectiveness in creating profit using assets.

For 2010:

For 2011:

Thus, the efficiency value of Aviastar-SP CJSC in 2011 increased by 3%.

Net profit margin company's sales is equal to the percentage of revenue that constitutes its net profit. The net profit rate characterizes the level of profitability of the organization's economic activities. The net profit margin is measured as a percentage and is defined as the ratio of net profit to revenue (net). The normal value of this parameter is about 0.2. Formula:

For 2010:

For 2011:

Thus, Aviastar-SP CJSC is experiencing enormous financial difficulties and meets all the signs of insolvency.

Table 1

“Assessment of the financial condition of the debtor enterprise using a standard set of the following coefficients”

Index

Normative value

1. Absolute liquidity ratio

More than 0.2

2. Current ratio

3. The indicator of the security of the debtor’s obligations with its assets

4. Degree of solvency for current assets

5. Autonomy (financial independence) coefficient

6. Provision ratio of own working capital

means

7. Share of overdue accounts payable in liabilities

8. Indicator of the ratio of accounts receivable to

total assets

Less than 0.4

9. Return on assets

10. Net profit margin

According to the balance sheet data (Form 1, 2), I will group assets according to the speed of turnover and liabilities according to the urgency of their repayment. The initial data for grouping the presentation is in Table 2, and the grouping itself is carried out in Table 3.

table 2

“Initial data for grouping assets by turnover rate and liabilities by maturity, thousand rubles.”

Balance sheet asset

Liability balance

1. Raw materials, materials, VAT

7. Accounts payable in total, including:

Duration of turnover, days.

8. Bills payable (other

creditors)

2. Costs in work in progress

9. Regarding wages

Duration of turnover, days.

10. Before the government

off-budget funds

3. Finished products, shipped goods

11. Before the budget

4. Deferred expenses

13. Payment requirements,

exhibited without acceptance

Duration of turnover, days.

14. Carryover balances

wages (12 days)

5. Accounts receivable

15. Carryover balances for social contributions, 30.2%

Duration of turnover, days.

16. Short-term loans, loans, other loans

6. Other current assets

17. Long-term liabilities

Duration of turnover, days.

18. Deferred income and

reserves for future expenses and

payments
  • 19. Debt to participants
  • (to the founders) for payment

20. Other short-term

obligations

Among the most popular turnover ratios in financial analysis are:

  • · turnover of current assets (the ratio of annual revenue to the average annual value of current assets)
  • inventory turnover (the ratio of annual revenue to the average annual cost of inventory)
  • · accounts receivable turnover (the ratio of annual revenue to the average annual amount of accounts receivable)
  • · accounts payable turnover (the ratio of annual revenue to the average annual value of short-term accounts payable)
  • · asset turnover (the ratio of annual revenue to the average annual value of all assets of the enterprise)
  • · equity capital turnover (the ratio of annual revenue to the average annual value of the organization’s equity capital)

The duration of turnover is calculated by the ratio of the number of calendar days to the turnover ratio.

Using the grouping made, I will make calculations of coverage ratios and solvency. The source data is presented in Table 3, the calculations of the coefficients are described in Table 4.

Table 3

“Initial information for calculating coverage ratios and assessing solvency, thousand rubles.”

Group of assets by

their period

turnover

Obligation groups

according to their urgency

repayment

Deviations

groups

assets and

obligations

Cash

facilities

Most

obligations

Specific gravity

Specific gravity

Assets with

turnover

less than one

obligations

Specific gravity

Specific gravity

Assets with

turnover

from one to

three months

Medium-term

obligations

Specific gravity

Specific gravity

Assets with

turnover

more than three

Long-term

Liabilities

Specific gravity

Specific gravity

For the formed groups of assets and liabilities, intermediate coverage ratios and two general indicators presented in Table 4 are calculated, and the calculation of solvency ratios for current and long-term liabilities (based on sales revenue) is presented in Table 5.

The system of solvency indicators under consideration involves the calculation of a group of coefficients that assess the degree to which previously adjusted obligations are covered by net cash flow (net profit plus accrued depreciation), as well as from sales proceeds. They will allow you to determine what part of the outstanding debts can be satisfied through the results of your own financial and economic activities. To calculate the solvency ratios for current obligations, the average monthly and average quarterly sales revenue is taken.

Table 4

“Debt coverage ratios and general indicators of solvency”

Intermediate odds

Calculation algorithm

Change

Absolute coverage

Conditional absolute

coatings

(A1+A2)/NSO

Quick coverage

Conditional fast

coatings

(A1+A2)/(НСО+СО)

Mid-term

coatings

Promising

liquidity

Generalizing

coefficient

current coverage

Overall coefficient

solvency

Thus, the possibility of repaying urgent obligations at the expense of cash and assets in 2011 decreased significantly, the degree of repayment of urgent obligations within 1 to 3 months in 2011 increased compared to 2010, but the ability to repay long-term obligations in 2011 lower than in 2010. In addition, the ability to pay off current obligations in 2011 is higher, and the overall solvency is much lower than in 2010.

Table 5

“Coefficients of the degree of solvency for current and long-term obligations (based on sales revenue)”

Thus, we can say that the current solvency, the volume of short-term borrowed funds is higher in 2011, and the period of possible repayment of term debt through current activities is higher in 2010.


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