Introduction

1. Theoretical and methodological aspects of the analysis financial results activities of a trading company

1.1 The role of financial results in assessing the activities of the enterprise

1.2 Profit and profitability as indicators of business performance

1.3 Methodology for analyzing the financial results of a trading enterprise

2. Analysis of the financial results of the trading company Ansat LLC

2.1 Characteristics of the enterprise Ansat LLC

2.2 Analysis of the dynamics and structure of the financial results of the enterprise

2.3 Factor analysis of enterprise profit

2.4 Analysis of the profitability of the enterprise

3. Management of financial results of enterprises retail

3.1 The state and prospects for the development of retail trade in the context of the financial and economic crisis

3.2 Prospects for the development of Ansat LLC in a crisis

Conclusion

List of used sources and literature

Introduction

With the transition of the state economy to the foundations of a market economy, the multidimensional significance of profit is enhanced. A joint-stock, leased, private or other form of ownership enterprise, having gained financial independence and independence, has the right to decide for what purposes and in what amounts to direct the profit remaining after paying taxes to the budget and other obligatory payments and deductions. Making a profit is an indispensable condition and goal of entrepreneurship of any economic structure.

Profit (profitability) evaluates the efficiency of management, profit is the main source of financing for economic and social development; profitability serves as the main criterion for choosing investment projects and programs for optimizing current costs, expenses, and financial investments. Thus, profit (and its relative modification - profitability) has acquired the most important, leading role in the new economic and financial mechanism for managing socio-economic development.

Profit as a criterion for the efficiency of reproduction and as an indicator that has two boundaries - the volume of production or services (sales) and the cost - has one important property: it reflects the end result of intensive and extensive development. The latter is related to the factor of growth in production volume and natural savings from a relative decrease in conditionally fixed cost elements: wage fund (accordingly, accruals going to off-budget funds), depreciation, energy fuel, payments to the budget for resources, non-production and some other expenses.

The thesis aims to study the essence of profit, its role in the activities of the enterprise, as well as the procedure for its taxation. A feature of the formation of civilized market relations is the increasing influence of such factors as fierce competition, technological changes, computerization of economic information processing, continuous innovations in tax legislation, changing interest rates and exchange rates against the backdrop of ongoing inflation.

In many ways correct definition the final financial result depends on the professionalism and objectivity of the managers, because if the production activity is correctly and competently built, then the consequence of this will, of course, be high financial results.

Efficiency of production, investment and financial activities organization is characterized by its financial results. The overall financial result is profit, which ensures the production and financial development of the enterprise. When studying profit, the main attention is paid to the analysis of the influence of internal factors on profit, as it allows you to determine the internal reserves of profit growth. The desire to make a profit directs commodity producers to increase the volume of production, reduce costs.

The relevance of the research topic lies in the fact that the main goals of any enterprise are making a profit, preserving and increasing capital. Their achievement provides the necessary level of efficiency of the economic entity and the satisfaction of the interests of its owners. Both goals are closely interconnected, since the main source of capital increase is net profit. An important tool The solution to this problem is economic analysis, which reveals the reasons for changes in financial results and profit growth reserves.

Profit is a complex complex indicator, the value of which is necessarily taken into account in the process of substantiating and making managerial decisions by all market participants: third parties (investors, creditors, suppliers and buyers, etc.) and internal entities (management, owners of large blocks of shares or shares, etc.). ). In this regard, it is extremely important not to be mistaken in the interpretation of many different measures of financial results.

Break-even management at an enterprise involves a change in the thinking of managerial personnel, the rejection of traditional analysis and the transition to a "leading" analysis, the application of a systematic approach to the problem under study.

The purpose of this work: to evaluate the results of financial and economic activity enterprises and suggest the main directions for their increase.

To achieve this goal, the following tasks have been set:

− reveal the theoretical aspects of assessing the financial performance of the enterprise;

- study the procedure for the formation and distribution of profits, as well as outline the methodology for its analysis;

− assess the following indicators of the financial and economic activity of the enterprise: profit from sales and profitability;

- to determine the main ways to improve the efficiency and financial results of the enterprise.

The object of this work is Ansat LLC. The subject is the financial results of the enterprise.

The development of this topic was carried out by such authors as G.V. Savitskaya, S.M. Pyastolov, N.S. Plaskov, V.V. Kovalev, N.M. Khachaturyan, A.D. Trusov, A.G. Khairullin, E. Krylov, V.I. Terekhin, V.F. Protasov, O.K. Denisov, etc.

The main sources for considering the theoretical aspects of the financial results of the enterprise were: tutorial Plaskova N.S. "Strategic and current economic analysis", textbook Pyastolova S.M. "Analysis of financial and economic activity." For factor analysis profits from the sale of products (works, services) and analysis of profitability indicators of the enterprise were used: the textbook Savitskaya G.V. "Analysis of the economic activity of the enterprise", V.F. Protasov "Analysis of the activities of an enterprise (firm): production, economics, finance, investment, marketing." The textbook by V.G. Getman, E.A. Yelenevskaya

"Accounting Financial Accounting".

The information basis of the work: "Profit and Loss Statement" for 2007 - 2008, "Balance Sheet" for 2007 - 2008.

In the course of the analysis of this work, the comparison method, the chain substitution method, and factor analysis were used.

This work consists of an introduction, three chapters, a conclusion, a list of references and applications.

The first chapter of this work discusses the theoretical aspects of the financial and economic results of the enterprise: the concept, economic essence, indicators, formation, distribution, methodology for assessing financial results.

The second chapter gives a brief description of the enterprise. An analysis of the dynamics and structure of the financial results of the enterprise, factorial analysis of profit from the sale of products, and an assessment of the profitability of the enterprise are carried out.

The third chapter defines the main ways to improve the financial performance of the enterprise.

1. Theoretical and methodological aspects of the analysis of the financial results of a trading enterprise

1.1 The role of financial results in assessing the activities of a trading enterprise

One of the main goals entrepreneurial activity consists in making a profit as the most reliable financial source of well-being for both the organization itself and its owners. The performance results depend on how quickly and accurately the company can identify, quantitatively measure the impact of various external and internal factors, as well as withstand their negative impact due to the high level of financial risks (the general state of the country's economy, market instability, financial system, trends in the complication of corporate relations, low settlement and payment discipline, high inflation, etc.).

System reform accounting and reporting, due to the formation and continuous improvement of market relations in our country, is associated with the need to create an adequate system of multi-level financial information that would properly meet the requirements of various business entities. Financial statements are the most important source of information about the activities of the organization, both for its management and owners, and for external users. Interpretation of indicators financial reporting various business entities is necessary for making managerial decisions of a different nature.

The main goal of financial activity is to decide where, when and how to use financial resources for the effective development of production and maximizing profits.

Branch of the Moscow Psychological and Social Institute

Course work

discipline: Economic analysis

topic: "Analysis of the financial results of the enterprise (on the example of Stroy Master LLC")

performed:

4th year student

specialty: finance and credit

group 22E

Kuputdinova Guzel

Checked:

INTRODUCTION 3

1. THEORETICAL QUESTIONS OF THE ANALYSIS OF THE FINANCIAL RESULTS OF THE ACTIVITIES OF THE ENTERPRISE

1.1 Role, objectives and goals of the analysis of financial results 5

1.2. Profit analysis methodology. Factors of its formation 7

1.3. Methodology for profitability analysis of the enterprise 13

2. Analysis of FINANCIAL RESULTS AT STROY MASTER LLC

2.1. general characteristics enterprises 15

2.2. Analysis of the composition and dynamics of profit 17

2.3. Analysis of profit from production and sales of products 19

2.4. Analysis of the profitability of the enterprise 26

3. RESERVES TO INCREASE PROFIT AND PROFITABILITY

COMPANIES 32

CONCLUSION 36

REFERENCES 39

INTRODUCTION

In this paper, we are going to consider the topic “Analysis of financial results at the enterprise” in as much detail as possible. In my opinion, this topic is very interesting to study and relevant. Due to the fact that the modern economic life of enterprises is extremely complex, such important indicators as profit and profitability are influenced (directly or indirectly) by a very large number of different factors. Moreover, if the influence of some factors literally “lies on the surface” and is visible even to non-specialists, then the influence of many others is not so obvious and only a person who is fluent in the methodology of economic analysis can correctly assess their influence.

One of the most important conditions successful management the finances of an enterprise is to analyze its financial condition. It should be noted that profit acts in this case as the initial moment from which any management starts when deciding on one or another form (structure) of economic analysis at its enterprise, thereby determining the importance that it will play in the life of the enterprise.

The importance of such important indicators as the profit and profitability of the enterprise can hardly be overestimated, because it is the profit that is the final financial result of the enterprise, which serves as a source of replenishment of the financial resources of the enterprise.

An analysis of the profit and profitability of an enterprise makes it possible to identify a large number of development trends, is intended to indicate to the management of the enterprise the ways for further successful development, indicates errors in economic activity, and also to identify reserves for profit growth, which, ultimately, allows the enterprise to more successfully carry out its activities.

The analysis was carried out using the method of factor analysis. The object of the study is the Stroy Master enterprise. In turn, the process of forming the financial results of the enterprise will be the subject of analysis.

The purpose of writing this paper is to identify reserves for increasing profits and profitability based on an analysis of the financial results of the enterprise and to propose measures aimed at improving financial and economic activities and, accordingly, financial results.

To achieve this goal, it is necessary to solve the following tasks:

Consider the theoretical aspects of the analysis of the financial results of the enterprise, namely, set out the tasks, sequence and methodology of analysis;

To show the application of the stated methodology in practice, namely, to consider the example of the activity of the production enterprise Stroy Master LLC. Analyze the formation, dynamics and implementation of the profit plan, calculate profitability indicators, conduct a factor analysis of profit and profitability.

Based on the analysis, identify existing reserves for increasing profits and profitability, develop and propose a set of measures aimed at using the identified reserves.

The main sources of information for analyzing the financial performance of the enterprise in question are financial reporting documents: form No. 1 "Balance sheet", form No. 2 "Profit and loss statement", form No. 5 "Appendix to the balance sheet", analytical accounting data, a survey of experts LLC "Stroy Master"; Tax and Civil Codes; works of domestic specialists.

Structurally, the course work consists of an introduction, two parts, a conclusion and a list of references.

1. THEORETICAL QUESTIONS OF THE ANALYSIS OF THE FINANCIAL RESULTS OF THE ACTIVITIES OF THE ENTERPRISE

Role, tasks and objectives of the analysis of financial results

The current situation in the economy requires enterprises to increase production efficiency, competitiveness of products and services based on the introduction of scientific and technological progress, effective forms of management and production management, overcoming mismanagement, enhancing entrepreneurship, initiative, etc.

An important role in the implementation of this task is assigned to the analysis of the economic activity of enterprises. With its help, a strategy and tactics for the development of an enterprise are developed, plans and management decisions are substantiated, control over their implementation is carried out, reserves for increasing production efficiency are identified, and the performance of the enterprise, its divisions and employees is evaluated. A qualified economist, financier, accountant, auditor must be well aware not only of the general patterns and trends in the development of the economy, but also to subtly understand the manifestations of general, specific and private economic laws in the practice of his enterprise, to notice trends and opportunities to improve production efficiency in a timely manner. He must be proficient in modern methods of economic research, methods of systematic, comprehensive economic analysis, the skill of accurate, timely, comprehensive analysis of the results of economic activity.

The financial results of the enterprise are characterized by the amount of profit received and the level of profitability.

The final financial result of the economic activity of the enterprise is profit.

an economic indicator that characterizes the financial results of the economic activity of the enterprise;

stimulating function, manifested in the process of its distribution and use;

one of the main sources of formation of financial resources of the enterprise 1 .

Profit is the main source of financing for the increase in working capital, renewal and expansion of production, social development of the enterprise, as well as the most important source of formation of the revenue side of budgets of different levels.

Making a profit is the main goal of any business entity. On the one hand, profit is an indicator of the effectiveness of the enterprise, because. it depends mainly on the quality of the enterprise, increases the economic interest of its employees in the most efficient use of resources, tk. profit is the main source of production and social development of the enterprise. On the other hand, it serves as the most important source of formation of the state budget. Thus, both the enterprise and the state are interested in the growth of profit amounts.

Profitability is one of the main cost qualitative indicators of the efficiency of an enterprise, characterizing the level of return on costs and the degree of use of funds in the process of production and sale of products (works, services). Profitability indicators are expressed in coefficients or percentages and reflect the share of profit from each monetary unit of costs. Thus, more fully than profit characterize the final results of management, tk. their value shows the ratio of the effect to the available or used resources.

The amount of profit and the level of profitability depend on the production, marketing and commercial activities of the enterprise, i.e. these indicators characterize all aspects of management.

The main goal of analyzing the financial performance of an enterprise is to obtain a small number of key parameters that give an objective and accurate picture of the financial condition of the enterprise, its profits and losses, changes in the structure of assets and liabilities, in settlements with debtors and creditors.

The main objectives of the analysis of financial results are:

Assessment of the level and dynamics of absolute and relative indicators of financial results (profit and profitability);

Studying the structure of profit by types of financial results;

Determination of the influence of various factors on the amount of profit and the level of profitability;

The study of the distribution and use of profits of the enterprise;

Analysis of relative profitability indicators (profitability threshold analysis);

Determination of possible reserves for increasing profits and profitability, as well as ways to mobilize them.

The main source of information in the analysis of financial results is f. No. 2 "Profit and Loss Statement". Additionally, information contained in f. No. 1 "Balance sheet", f. No. 3 "Statement of changes in equity", f. No. 5 "Appendix to the balance sheet", journal-order No. 10 - for items of production costs, journal-order No. 15 - for profit and loss accounts, journal-order No. 11 - for finished product accounts, f. No. 11 "Information on the availability and movement of fixed assets (funds) and other non-financial assets" ( statistical reporting). In addition, the analysis uses data from a business plan and analytical accounting: accounts 90 “Sales”, 91 “Other income and expenses”, 99 “Profit and loss”.

The size of profit and profitability is influenced by two groups of factors: internal and external.

External factors - these are factors of the external environment of the enterprise. In most cases, it itself cannot influence them, and therefore is forced to adapt to them.

The group of external factors includes:

The level of development of the country's economy as a whole;

Natural (climatic) factors, transport and other conditions that cause additional costs for some enterprises and cause additional profit for others;

Measures to regulate the activities of enterprises by the state;

Changes in prices for raw materials, products, materials, fuel, energy carriers, purchased semi-finished products not provided for by the enterprise's plan; tariffs for services and transportation; depreciation rates; rental rates; minimum wages and accruals on it; rates of taxes and other fees paid by the enterprise;

Violation by suppliers, financial, banking and other organizations of state discipline on economic issues affecting the interests of the enterprise.

Internal factors are directly related to the performance of the enterprise, they can mainly be influenced by the management of the enterprise.

The group of internal factors includes:

results of commercial activity,

The effectiveness of concluded transactions for the supply of goods,

Forms and systems of remuneration,

The volume and structure of trade,

labor productivity,

The level of gross income and distribution costs,

The effectiveness of the main and working capital,

The amount of other profit,

Violations of tax laws.

Profit analysis is carried out in several stages. At the first stage, the dynamics of profit and profitability is analyzed for the enterprise as a whole and for its divisions by identifying trends in the mass of profit and profitability for the period under study. For this purpose, the rates (basic and chain) of growth (decrease) of the analyzed indicators are calculated and compared with the dynamics of similar indicators of competitors and with the average annual rate of return on invested capital.

At the second stage, the influence of factors on profit and profitability is assessed.

The profit from the sale of products as a whole for the enterprise depends on four factors of the first level of subordination:

The volume of sales of products;

Its structures;

cost;

The level of average selling prices.

The volume of sales of products can have a positive and negative impact on the amount of profit. An increase in sales of cost-effective products leads to a proportional increase in profits. If the product is unprofitable, then with an increase in the volume of sales, a decrease in the amount of profit occurs.

The structure of marketable products can have both a positive and a negative impact on the amount of profit. If the share of more profitable types of products in the total volume of its sales increases, then the amount of profit will increase, and, conversely, with an increase in the share of low-profit or unprofitable products, the total amount of profit will decrease.

The cost of production and profit are inversely proportional: a decrease in cost leads to a corresponding increase in the amount of profit and vice versa.

The change in the level of average selling prices and the amount of profit are directly proportional: with an increase in the price level, the amount of profit increases, and vice versa.

The effectiveness and economic feasibility of the functioning of the enterprise are evaluated not only by absolute, but also by relative indicators. The latter, in particular, include a system of profitability indicators.

In the broad sense of the word, the concept of profitability means profitability, profitability. An enterprise is considered profitable if the income from the sale of products (works, services) covers the costs of production (circulation) and, in addition, form an amount of profit sufficient for the normal functioning of the enterprise.

Economic entity profitability can be disclosed only through the characteristics of the system of indicators. Their general meaning is to determine the amount of profit from one ruble of invested capital.

Profitability indicators characterize the relative profitability or profitability, measured as a percentage of the cost of funds or property.

Profitability of sales shows how much profit falls on the ruble of products sold. The decrease indicates a decrease in demand for the company's products. The level of profitability of sales is determined by the ratio of profit from the sale of products to the amount of proceeds from the sale of products without VAT and excises.

The profitability of the entire capital of the enterprise shows the efficiency of the use of all the property of the enterprise. The decline indicates a drop in demand for products and an overaccumulation of assets. The profitability of the entire capital of the enterprise is determined by the ratio of the profit of the reporting year to the value of the property of the enterprise.

Profitability out current assets reflects the efficiency of the use of non-current assets. The level of profitability of non-current assets is determined by dividing the profit of the reporting year by the cost of non-current assets.

Profitability equity shows the effectiveness of the use of equity capital. The dynamics of the coefficient affects the level of quotation of the company's shares. The return on equity is determined by the ratio of the profit of the reporting year to the equity capital of the enterprise.

Return on permanent capital reflects the effectiveness of the use of capital invested in the activities of the enterprise (both own and borrowed capital). Return on permanent capital is determined by dividing the profit of the reporting year by the amount of equity and long-term liabilities.

For the analysis of profitability indicators, the following sources of information are used: financial plan, forms No. I and No. 2 of the enterprise's financial statements, accounting registers.

» The text of the work "Analysis of the financial results of the activities of a trading enterprise (on the example of Ansat LLC)"

Analysis of the financial results of a trading enterprise (on the example of Ansat LLC)

Theoretical and methodological aspects and methods of analyzing financial results, profit and profitability as indicators of the effectiveness of commercial activities. Status and prospects for the development of retail trade in the conditions of the financial and economic crisis.

INTRODUCTION

1. Theoretical and methodological aspects of the analysis of the financial results of a trading enterprise

1.1 The role of financial results in assessing the activities of the enterprise

1.2 Profit and profitability as indicators of business performance

1.3 Methodology for analyzing the financial results of a trading enterprise

2. Analysis of the financial results of the trading company Ansat LLC

2.1 Characteristics of the enterprise Ansat LLC

2.2 Analysis of the dynamics and structure of the financial results of the enterprise

2.3 Factor analysis of enterprise profit

2.4 Analysis of the profitability of the enterprise

3. Managing the financial results of retailers

3.1 The state and prospects for the development of retail trade in the context of the financial and economic crisis

3.2 Prospects for the development of Ansat LLC in a crisis

Conclusion

List of used sources and literature

INTRODUCTION

Profit (profitability) evaluates the efficiency of management, profit is the main source of financing economic and social development; profitability serves as the main criterion for choosing investment projects and programs for optimizing current costs, expenses, and financial investments. Thus, profit (and its relative modification - profitability) has acquired the most important, leading role in the new economic and financial mechanism for managing socio-economic development.

The thesis aims to study the essence of profit, its role in the activities of the enterprise, as well as the procedure for its taxation. A feature of the formation of civilized market relations is the strengthening of the influence of such factors as fierce competition, technological changes, computerization of economic information processing, continuous innovations in tax legislation, changing interest rates and exchange rates against the backdrop of ongoing inflation.

In many ways, the correct definition of the final financial result depends on the professionalism and objectivity of managers, because if the production activity is correctly and competently built, then, of course, high financial results will be the result.

The efficiency of production, investment and financial activities of the organization is characterized by its financial results. The overall financial result is profit, which ensures the production and financial development of the enterprise. When studying profit, the main attention is paid to the analysis of the influence of internal factors on profit, as it allows you to determine the internal reserves of profit growth. The desire to make a profit directs commodity producers to increase the volume of production, reduce costs.

The relevance of the research topic lies in the fact that the main goals of any enterprise are making a profit, preserving and increasing capital. Their achievement provides the necessary level of efficiency of the economic entity and the satisfaction of the interests of its owners. Both goals are closely interconnected, since the main source of capital increase is net profit. An important tool for solving this problem is economic analysis, which helps to identify the reasons for changes in financial results and profit growth reserves.

The purpose of this work: to evaluate the results of the financial and economic activities of the enterprise and propose the main directions for their increase.

To achieve this goal, the following tasks have been set:

To reveal the theoretical aspects of assessing the financial performance of the enterprise;

To study the procedure for the formation and distribution of profits, as well as to outline the methodology for its analysis;

To assess the following indicators of the financial and economic activities of the enterprise: profit from sales and profitability;

Determine the main ways to improve the efficiency and financial results of the enterprise.

The object of this work is Ansat LLC. The subject is the financial results of the enterprise.

The main sources for considering the theoretical aspects of the financial results of the enterprise were: textbook Plaskova N.S. "Strategic and current economic analysis", textbook Pyastolova S.M. "Analysis of financial and economic activity." To conduct a factor analysis of profit from the sale of products (works, services) and analyze the profitability of the enterprise, the following were used: the textbook Savitskaya G.V. "Analysis of the economic activity of the enterprise", V.F. Protasov "Analysis of the activities of an enterprise (firm): production, economics, finance, investment, marketing." The textbook by V.G. Getman, E.A. Yelenevskaya

"Accounting Financial Accounting".

The information basis of the work: "Profit and Loss Statement" for 2007 - 2008, "Balance Sheet" for 2007 - 2008.

In the course of the analysis of this work, the comparison method, the chain substitution method, and factor analysis were used.

This work consists of an introduction, three chapters, a conclusion, a list of references and applications.

The third chapter defines the main ways to improve the financial performance of the enterprise.

1. Theoretical and methodological aspects of the analysis of the financial results of a trading enterprise

1.1 The role of financial results in assessing the activities of a trading enterprise

One of the main goals of entrepreneurial activity is to make a profit as the most reliable financial source of wealth for both the organization itself and its owners. The performance results depend on how quickly and accurately the company can identify, quantitatively measure the impact of various external and internal factors, as well as withstand their negative impact due to the high level of financial risks (the general state of the country's economy, the instability of the market, the financial system, the increasing complexity of corporate ties, low settlement and payment discipline, high inflation, etc.).

The reform of the accounting and reporting system, due to the formation and continuous improvement of market relations in our country, is associated with the need to create an adequate system of multi-level financial information that would adequately meet the requirements of various business entities. Financial statements are the most important source of information about the activities of the organization, both for its management and owners, and for external users. Interpretation of financial statements by various business entities is necessary for making management decisions of a different nature.

The main goal of financial activity is to decide where, when and how to use financial resources for the effective development of production and maximizing profits.

The financial result is characterized by generalizing indicators of the effectiveness of the current activities of the enterprise - the volume of sales (products, works, services) and the profit received. It is formed according to the results of the processes of production and sale of products and, therefore, depends on a number of objective and subjective factors:

Degrees of use by the commercial organization of industrial resources;

Compliance with contractual and payment discipline;

Changes in the situation on raw materials, commodity and financial markets.

The financial result of a commercial organization is expressed in the amount of income or profit received. The amount of profit received in the reporting period is determined by the income of business owners, remuneration of employees of the organization, tax revenues to the budget. The financial result is an indicator of the attractiveness of a commercial organization for business partners, creditors, investors.

The income of the organization consists of income from core and non-core activities. According to the results of the main activity, the gross profit of the organization is formed as the difference between the revenue and the cost of selling marketable products, and on its basis, after adjusting for the amount of management and commercial expenses, the profit from sales is one of the main indicators of the organization's activities. Taking into account all income received (both from the main and non-core activities of the organization) and the expenses associated with their receipt, the organization generates profit that is subject to taxation at income tax rates approved for different types of activities - profit before tax. After taxes are paid, the company has at its disposal net profit, which is then distributed to dividends paid to business owners and to its development.

It is necessary to distinguish between the concepts of "expenses", "costs", "cost". Formation of adequate results of the analysis depends on their correct identification. Unlike expenses, costs -- the value of the funds used to form the material, labor, financial and other resources for the purpose of carrying out the activities of the enterprise; costs can be recognized as expenses in the reporting period or as assets that will become expenses in future periods. One can cite as an example the acquisition of a batch of raw materials, part of which was consumed for the production of products sold in the reporting period (it is written off to cost). Another part of the raw materials was used in production, but as of the reporting date, the products had not yet reached the stage of readiness, that is, they were semi-finished products. Therefore, in the reporting, it will be reflected in the asset of the balance sheet as work in progress. Finally, the third part of the purchased batch of raw materials remained unclaimed in the warehouse, and its value will also be reflected in the asset of the balance sheet. In subsequent reporting periods, both semi-finished products and raw materials will be recognized as expenses in accordance with the accounting policy of the organization, based on the provisions of Russian accounting standards.

Combining certain types of expenses into groups, the organization generates cost indicators. The term "cost" and derived from it cost indicators are the subject of study of management analysis. This term is far from unambiguous, since cost indicators are in demand in assessing the performance of economic entities at various stages of economic analysis for internal business process management purposes.

In general, the cost -- it is a valuated aggregate of the costs of living and materialized labor used in the production process of products (works, services) of natural resources, raw materials, materials, fuel, energy, fixed assets, labor resources, as well as other costs necessary for the implementation of economic activities and involved in accordance with the accounting policy of the organization in the formation of financial results.

The information base for the analysis of income, expenses and profits as part of the organization's financial statements is the Profit and Loss Statement (form No. 2), as well as the section "Expenses for ordinary activities" of the Appendix to the balance sheet (form No. 5).

The general model for the formation of any profit indicator is as follows:

Profit \u003d Income - Expenses, (1.1)

Since the recognition in accounting of income and expenses for the period occurs in accordance with the accrual method, we can say that profit -- the financial result of the organization's activities for the period formed by the accrual method, which is the excess of income over expenses.

Profit serves as the financial result of the activities of a commercial organization, as well as a source of increasing equity capital. At the expense of profit, the organization has the opportunity to expand the scope of activities, to make additional capital investments in the production base, the development of new production technologies, the development of new competitive products and replenish current assets.

Profit has a stimulating effect on the strengthening of commercial calculation, the intensification of production in any form of ownership. Profit growth creates a financial base for self-financing, expanded reproduction, solutions social problems, meet material needs labor collectives. At the expense of profit, the organization's obligations to the budget, banks and other organizations are fulfilled. Profit indicators characterize the degree of business activity and financial well-being. Profit determines the level of return on advanced funds and the return on investment in assets. Under market conditions, a business entity strives, if not for maximum profit, then for such a profit that will ensure the dynamic development of production in a competitive environment, allow it to maintain its position in the market for this product, and ensure its survival.

The most important financial indicator of the effect of the company's activities is net profit, i.e. a positive financial result of the reporting period, obtained after the reimbursement of all expenses recognized in accounting, including income tax. Net profit is a source of growth in the welfare of company owners, since it is a source of dividend payments, as well as growth net assets(shares of owners in assets). For the enterprise itself, net profit (remaining after the accrual of dividends, compensation for certain expenses, charitable payments, etc.) is a reliable source of growth in the scale of activities. Net reinvested profit, increasing equity, increases financial stability, reduces financial risks. However, reinvestment net profit in the company's activities is quite expensive and depends on the share of income tax withdrawal to the budget (at least 24%).

Managers of the organization are primarily interested in profit from sales, which characterizes the effectiveness of managing current production activities without taking into account the results from operations on investment (realization of property), financial activities and non-operating results, which are often of a one-time, random nature.

Profitability is a relative indicator that determines the level of profitability of a business. In the conditions of market relations, the role of indicators of profitability of products characterizing the level of profitability (unprofitability) of its production is great. Profitability indicators are relative characteristics of the financial results and performance of the enterprise. They characterize the relative profitability of the enterprise, measured as a percentage of the cost of funds or capital from various positions.

Profitability indicators are the most important characteristics of the actual environment for the formation of profit and income of the enterprise. For this reason, they are indispensable elements of comparative analysis. When analyzing production, they are used as an instrument of investment policy and pricing.

1.2 Profit and profitability as indicators of the effectiveness of commercial activities

To commercial enterprise functioned successfully, it is necessary to conduct an in-depth analysis of its commercial activities, depending on the constantly changing market environment. This will make the enterprise steadily profitable and competitive, ensure its development, and foresee the future.

By conducting a systematic and in-depth analysis of business activities, you can:

Quickly, qualitatively and professionally evaluate the effectiveness of commercial work of both the enterprise as a whole and its structural divisions;

Accurately and timely find and take into account the factors affecting the profit received for specific types of goods sold and services provided;

Determine the costs of trading activities (distribution costs) and their trends, which is necessary to determine the selling price and calculate profitability;

Find the best ways to solve the commercial problems of a trading enterprise and obtain sufficient profit in the near and long term.

How can you evaluate and analyze the activities of a commercial enterprise? It is obvious that any commercial organization, regardless of its size, field of activity, profitability or unprofitability, is a complex system that interacts with the market environment. Therefore, there is hardly a single indicator that could exhaustively reflect all aspects of the commercial activity of an enterprise. Even profit cannot be such, although this indicator is the most accurate indicator of the effectiveness of the functioning of an organization (enterprise). For a comprehensive assessment of the effectiveness of the enterprise, a system of indicators is needed.

As noted above, the most important indicator efficiency of a trading (commercial) enterprise is profit , which reflects the results of all trading activities enterprises - the volume of products sold, its composition and assortment structure, labor productivity, cost level, the presence of unproductive costs and losses, etc. .

Replenishment of funds, material incentives for employees, payment of taxes, etc. depend on the amount of profit received. The presence of profit indicates that the costs of trade enterprises are fully covered by income from the sale of goods and the provision of services. The profit of a trading enterprise is calculated as the difference between all its income and expenses. In trade, a distinction is made between profit from the sale of goods (operating profit) and net, or balance sheet, profit.

Operating profit-- is the difference between trade allowances (margins) and distribution costs.

Revenue from sales calculated taking into account the so-called other planned and unplanned income and expenses. To planned expenses include taxes paid to the federal and local budgets; unplanned expenses-- fines, penalties and forfeits paid for violation of contractual obligations, losses from writing off bad debts and other losses that reduce operating profit. To unplanned income includes fines, penalties and forfeits received from various organizations, surplus inventories identified during the inventory, write-off accounts payable due to the expiration of the statute of limitations, etc.

To characterize the economic efficiency of a trading enterprise, as well as for the purpose of conducting a comparative analysis, it is necessary to know not only the absolute value of profit, but also its level. The level of profit characterizes profitability of trade organizations -- one of the performance indicators. The most common indicator of the profitability of trade is the ratio of the amount of profit to turnover. At the same time, it is not the only indicator of the profitability of trade or commercial activities, because it shows only the share of net income of trade in the amount of trade. This indicator does not reflect the degree of efficiency of all advanced costs (one-time and current) associated with commercial activities. So, with the same amount of profit and turnover, different commercial organizations may have different investments in fixed and working capital. In this regard, of particular importance for evaluating the effectiveness of commercial work is the comparison of profits with the costs incurred (distribution costs). This indicator allows you to judge the effectiveness of commercial activities, since it shows what is the share of profit for each ruble of expenses for doing business.

Other performance indicators of this group include: the ratio of profit to payroll; the amount of profit attributable to one employee of a trading enterprise; the ratio of profit to fixed and current assets and some others.

One of the qualitative indicators of the effectiveness of commercial work is distribution costs(expenses for the implementation of commercial activities).

Distribution costs are the monetary costs of carrying out trading activities. These costs may be associated with the continuation of the production process in the sphere of circulation, i.e., with the performance of additional functions by trade (expenses for transportation, storage, packaging, packaging of goods, etc.). Such expenses are called additional costs.

The costs associated with the implementation of the processes of purchase and sale of goods (purchase, sale of goods and processes that directly contribute to the commission of acts of sale of goods) are called net distribution costs. When analyzing commercial activities, it is important to identify the share of net and incremental distribution costs. The level of distribution costs is calculated as a percentage of the sum of distribution costs to the turnover. To a certain extent, it reflects the cost-effectiveness of commercial activities and is used when comparing the work of the same type and located in approximately the same conditions of trade organizations.

The return on equity ratio allows investors to assess the potential return on investing in stocks and other securities. Based on the indicator, it is possible to determine the period (number of years) during which the funds invested in a trading enterprise are fully paid off. Return on equity is calculated as the ratio of net profit to equity.

The return on assets is calculated as the ratio of balance sheet profit to the total amount of assets, this indicator is used as the main (generalizing) one and allows you to evaluate the effectiveness of total investments by financial sources, regardless of the comparative size of the sources of these funds.

Profitability production assets commercial enterprise is determined by the ratio of the amount (gross, net) and the average cost of fixed and material circulating assets, multiplied by 100.

Along with indicators of turnover, capital, fixed and working capital, other indicators are also used to calculate the level of profitability (coefficients): distribution costs, sales area, number of employees, each of which emphasizes a certain aspect of the performance of a trading enterprise.

The level of profitability, calculated by the ratio of the amount of profit from the sale of goods to the amount of distribution costs, shows the effectiveness of current costs. An increase or decrease in distribution costs directly affects the decrease or increase in profits. This indicator of profitability determines the effectiveness of a trade transaction for goods.

The ratio of profit from the sale of goods to the value retail space enterprises characterizes the amount of profits per 1 square. m. of shop area. Rational use of retail space will increase profits.

The main indicators are shown in Table 1.1.

Table 1.1 Profit assessment scorecard

Using these basic indicators, one can give economic evaluation efficiency of the trading enterprise.

1.3 Methodology for analyzing the financial results of a trading enterprise

main goal financial analysis is to obtain a small number of key (most informative) parameters that give an objective and accurate picture of the financial condition of the enterprise, its profits and losses, changes in the structure of assets and liabilities, in settlements with debtors and creditors. At the same time, the analyst and the manager (manager) may be interested in both the current financial condition of the enterprise and its projection for the near or more distant future, i.e. expected parameters of the financial condition .

The main objectives of the analysis of financial performance of business entities are:

Studying the formation and structure of profit (loss) from ordinary activities, its absolute change against the base period;

Substantiation and quantitative determination of the factors of change in gross profit and profit from sales;

Justification and quantitative comparison of the factors of change in profit from ordinary activities, including due to changes in profit before tax; due to changes in profit from sales; at the expense of profit from non-operating income and expenses at the expense of profit from operating income and expenses;

Identification and quantitative comparison of profit growth reserves;

Analysis of the factors of formation of net profit;

Analysis of the formation of indicators, justification and quantitative comparison of the factors of change in the profitability of products and capital, the possibilities of its increase.

The main sources of information for the analysis of financial results are the balance sheet (form No. 1) and income statement (form No. 2).

Financial statements are a system of indicators reflecting the property and financial position of the organization on a certain date, as well as the financial results of its activities for the reporting period. The composition, content, requirements and other methodological foundations of financial statements are regulated by the accounting regulation “Accounting statements of an organization” (PBU 1 - PBU 10), approved by order of the Ministry of Finance of the Russian Federation of December 9, 1998. The reporting of an enterprise in a market economy is based on the generalization of data financial accounting and is an information link connecting the enterprise with society and business partners - users of information about the activities of the enterprise. The value of the balance sheet when analyzing the financial results of an enterprise is so great that it is often distinguished into an independent reporting unit, in addition to which is a report, that is, the totality of all other forms of accounting.

Form No. 2 “Profit and Loss Statement” provides more analytical, detailed and specific information. For investors and analysts, this form is in many respects more important than the balance sheet, since it contains not frozen, instantaneous, but dynamic information about what success the company has achieved during the year and due to which aggregated factors, what is the scale of its activities.

For the analysis of financial results, Form No. 2 of the accounting (financial) statements "Profit and Loss Statement" is used. The construction of this form allows you to study the formation of individual groups of financial results and identify the influence of the main groups of factors on individual profit indicators.

1st stage . Profit analysis should start with implementation analysis products and revenue. To this end, the following are being carefully studied:

The main sources of revenue (according to

Form No. 2 or an explanatory note to the annual

Report), their structure;

Stability of sources of receipt of revenue.

The revenue structure is analyzed by: types of products sold, structural divisions, territorial divisions. The information obtained is used to conduct a factor analysis of profits, as well as to evaluate the business plan and further planning.

If profit analysis is carried out according to consolidated financial statements, it is necessary to take into account inter-branch transfer pricing and the allocation of indirect overhead costs.

Stability sources of revenue is estimated by horizontal analysis of the revenue structure. Analysis of the quality and stability of changes in sales of products includes an assessment of:

Sensitivity of demand for different types of products at general conditions activities, including in the context of branches and remote territorial subdivisions;

The ability of an organization to adapt to changes in demand by introducing new products and services as a means of further growth sales (implementation of structural changes);

The degree of concentration of indicators, depending on the main buyers;

Degrees of product concentration and dependence on one industry (for multi-industry enterprises);

Degrees of dependence on a relatively small number of top sellers;

Degrees of geographical diversification of markets.

2nd stage. In addition to the analysis of sales, the level and dynamics of production costs are studied, in particular, the ratio of indicators of the level of costs and the level of gross profit.

3rd stage. The study of the composition and structure of the financial result of the organization.

The formation of separate groups of financial results in accordance with Form No. 2 "Profit and Loss Statement" of financial statements can be presented in the form of a diagram.

In this case, it is important to check the compliance with the proportions of the growth rates of profit indicators. base model looks like that:

Tr Revenue< Тр Валовая прибыль < Тр Прибыль от продаж < Тр Налогооблагаемая прибыль < Тр Чистая прибыль

4th stage. Estimation of the final financial result of profit before taxation.

Another significant area of analysis is the assessment of the formation of profit before tax, which consists of:

Profits from sales;

operating income and expenses;

Non-operating income and expenses.

The structure of the financial result is characterized by the ratio of the shares of individual components in the total amount of profit before tax.

A positive assessment deserves the financial result, if a significant share in the profit is the profit from sales and it tends to grow.

These two types of analysis - horizontal and structural - complement each other, and together with the analysis of implementation and cost levels, they make it possible to identify the influence of the main groups of factors on the formation of the corresponding profit indicators.

The methodology for analyzing financial results involves taking into account such indicators as profit from sales of products and profitability.

During the analysis of profit and profitability, they study the dynamics of changes in the volume of balance sheet, net profit, the level of profitability and the factors that determine them (gross income, distribution costs, income from other activities, taxes, etc.).

The main components of profit are:

turnover,

handling costs,

non-operating income and expenses.

Trade turnover is one of the main indicators of the economic and financial activities of commercial enterprises. Distinguish between retail and wholesale trade. Wholesale turnover is the sale of goods either for subsequent resale or for industrial consumption as raw materials, materials, components, etc. As a result wholesale trade goods do not leave the sphere of circulation. Retail turnover is the sale of goods to end consumers. This completes the process of circulation of goods, and it enters the sphere of consumption. The essence of retail trade is expressed by economic relations associated with the exchange of cash funds of the population for purchased goods. At the same time, the retail trade turnover may include: sale of food products by bank transfer to social legal entities (hospitals, sanatoriums, kindergartens, etc.); sale of goods to legal entities, but only for cash using cash registers.

Distribution costs are the costs of living and embodied labor, expressed in monetary form, to bring the goods from the producer to the consumer, transform the production range into a commercial one, organize the process of buying and selling and consumption, and satisfying consumer demand. Distribution costs are taken into account at all stages of pricing, starting from production, when sales costs are included in the cost of production, and ending with retail when the retail price reflects the costs of wholesale and retail trade.

Non-operating income and expenses are not related to the main activity of the enterprise. These include interest receivable and interest payable, rental income and property rental, other similar income and expenses.

The amount of profit and profitability is influenced by two groups of factors: internal and external (Figure 1.1).

Figure 1.1 - Factors affecting profit

External factors - these are factors of the external environment of the enterprise. In most cases, it itself cannot influence them, and therefore is forced to adapt to them.

The group of external factors includes:

The level of development of the country's economy as a whole;

Measures to regulate the activities of enterprises by the state;

Natural (climatic) factors, transport and other conditions that cause additional costs for some enterprises and cause additional profit for others;

Changes in prices for raw materials, products, materials, fuel, energy carriers, purchased semi-finished products not provided for by the enterprise's plan; tariffs for services and transportation; depreciation rates; rental rates; the minimum wage and charges on it; rates of taxes and other fees paid by the enterprise;

Violation by suppliers, financial, banking and other organizations of state discipline on economic issues affecting the interests of the enterprise.

Internal factors are directly related to the performance of the enterprise, they can mainly be influenced by the management of the enterprise itself, these include:

results of commercial activity,

The effectiveness of concluded transactions for the supply of goods,

The volume and structure of trade,

Forms and systems of remuneration,

labor productivity,

Efficiency of fixed and working capital,

The level of gross income and distribution costs,

The amount of other profit,

Violations of tax laws.

At the second stage, the influence of factors on profit and profitability is assessed.

The profit from the sale of products as a whole for the enterprise depends on four factors of the first level of subordination:

Volume of sales of products (VRP);

Its structures (UDi);

Cost (Сi);

The level of average selling prices (Ci).

The cost of production and profit are inversely proportional: a decrease in cost leads to a corresponding increase in the amount of profit and vice versa.

To determine the degree of influence of the considered factors on the level of profit and profitability, various mathematical and statistical methods are used.

To determine the development trend of the indicator, the method of finite differences, the method of enlargement of intervals, the method of moving average, the method of least squares are used. The method of finite differences is that the determination of the degree of the equation describing the trend in the development of an indicator occurs by finding the differences between the indicators. The method of enlargement of intervals is that the levels of the series are combined into a larger time interval (days into weeks, months into quarters, etc.). The moving average method is the assignment of a value equal to the arithmetic average of the previous, current and subsequent value of the indicator to the level of the series. The least squares method most accurately determines the development trends of the indicator, but is also the most time-consuming. It consists in defining a function that describes the trend line, the square of the distance from which to the actual values of the indicator is the smallest.

The degree of influence of factors is determined using such a statistical method as the method of chain substitutions. The disadvantage of this method is that the order of choosing a factor affects the result of the analysis, the advantage is the simplicity of calculations and the ability to determine the degree of influence with minimal time costs.

Profit from sales (profit from sales) is the most important element of accounting profit. The object of factor analysis is the deviation of the actual profit from sales from the profit of the previous year, or provided for by the business plan.

The main factors affecting the amount of profit from sales are:

The number of products sold;

Cost of goods sold;

Business expenses;

Management expenses;

Selling prices for products sold;

Structural shifts in the composition of the implementation.

Moreover, the profit from the sale of products is directly dependent on the number of products sold and on the price level. The more products an enterprise sells, the more the enterprise receives profits during profitable operation, and, accordingly, the higher the selling price, the higher the profit.

At the same time, the profit from sales is inversely related to the value of the cost of goods sold, commercial and administrative expenses. Reducing the amount of the above groups of expenses is the main factor in increasing profits.

The influence of such a factor as structural shifts in the composition of sales is due to the fact that certain types of goods, products, works and services have an unequal level of profitability. Any change in their ratio in total sales can increase sales and profits or cause them to decline.

To find the value of cost factors, one should compare the cost of goods sold, administrative and commercial expenses for the reporting period and according to the report, recalculated at the prices and costs of the previous year, that is, they find the difference between the indicated indicators. The total impact on sales profit is determined by the sum of cost factors.

The effect of price on earnings can be defined as the difference between the sales proceeds without indirect taxes of the reporting period and the proceeds according to the report, recalculated at prices and costs of the previous year. A positive result indicates that this factor has a positive impact on profit from product sales.

In order to identify the impact of a change in the quantity of sales on profit, one should determine the relative change in the volume of sales at the prices of the previous year. To do this, use the following formula:

P q \u003d (Y q -1) * P pr, (1.2)

where P q is the relative change in the volume of sales at the prices of the previous year;

Y q - index of the factor of change in the quantity of sold products, defined as the ratio of revenue from the sale of goods, works and services according to the report, recalculated at prices and costs of the previous year to revenue for the reporting period;

P pr - profit (loss) from sales of the previous year.

The impact on profit of shifts in the structure of sales can be calculated in various ways. The most common among them are the balance method and the method of sequential isolation of factors.

The balance method of calculation proceeds from the identity between the total deviation of the reported profit from the profit of the previous period and the sum of the values of the previous five factors. Hence, the deviation of profit, caused by a change in the structure of the range of products sold, will be equal to the difference between the total deviation and the sum of the values of all other factors.

The method of successive isolation of factors in determining the impact of structural shifts is based primarily on identifying profit deviations due to the following factors:

Quantity of products sold;

Implementation structures.

The analysis of profit from sales is completed by identifying the causes of negative factors in order to take them into account in subsequent work.

The economic essence of profitability can be disclosed only through the characteristics of the system of indicators. Their general meaning is to determine the amount of profit from one ruble of invested capital.

Profitability indicators characterize the profitability of the company's activities, they are calculated as the ratio of the received balance sheet or net profit to the funds spent or the volume of products sold. There are profitability of production, sales, total assets, non-current assets, current assets, own working capital, equity.

To calculate these indicators, the following formulas are used:

P p \u003d * 100%, (1.3)

where P p - profitability of production,

BP - accounting profit before tax,

Average cost of fixed assets for billing period,

The average cost of inventories.

The profitability of production reflects the amount of accounting profit attributable to each ruble of the enterprise's production resources.

P sales \u003d * 100%, (1.4)

BP - proceeds from the sale of products, goods, works, services without indirect taxes.

This indicator shows how much accounting profit falls on the ruble of sales.

P A \u003d * 100%, (1.5)

where R A - return on total assets,

The average value of total assets for the analyzed period.

This indicator reflects the amount of profit attributable to each ruble of total assets.

Р BOA \u003d * 100%, (1.6)

where P VOA - profitability of non-current assets,

The average cost of non-current assets for the analyzed period.

Return on non-current assets reflects the amount of accounting profit attributable to each ruble of non-current assets.

P OA \u003d * 100%, (1.7)

where P OA - current assets,

The average cost of current assets for the analyzed period.

This indicator shows the amount of accounting profit attributable to 1 ruble of current assets.

Introduction

1. Theoretical basis assessment of the financial performance of the enterprise

1.1 Economic essence of financial results

1.2 Profit as a result of economic activity

1.3 Methodology for analyzing the financial results of an enterprise

2. Analysis of financial results of economic activities of OAO Neftekamskshina

2.1 a brief description of enterprise activities

2.2 Assessment of the dynamics and structure of the enterprise's profit

2.3 Factor analysis of enterprise profit

2.4 Estimation of profitability indicators of OAO Neftekamskshina

3. The main directions for improving the financial performance of the enterprise

3.1 Overseas experience analysis of the financial results of the enterprise

Conclusion

List of used sources and literature

Introduction

Financial results are the merit of the organization. In this case, profit is the result of good work or external objective and subjective factors, and loss is the result of poor work or external negative factors.

A number of scientists, characterizing profit, believe that, as an economic category, it reflects the totality of relations of a business entity involved in the formation and distribution of national income.

It seems to us insufficient to consider profit only from the standpoint of determining the economic category and its functions. For a more complete description of profit, it should be presented as an effective one, and as a quantitative indicator: effective - it reflects the effectiveness of available resources, the results of the organization's activities; quantitative - this is the difference between the price and cost of goods, between sales and cost.

The concept of "profit" has different meanings from the point of view of the organization, consumer and state. But in all cases, it means getting a benefit. If the organization works profitably, this means that the buyer, by purchasing goods from the seller, satisfies his needs, and the state finances social tasks and supports unprofitable objects at the expense of incoming taxes from the sale.

The purpose of the activity of any commercial organization in a market economy is to make a profit, which will ensure its further development. At the same time, the resulting profitability should be considered not only the main goal, but also the main condition for the business activity of the organization, as a result of its activities, the effective implementation of its functions to provide consumers with the necessary goods in accordance with the existing demand for them.

Based on the position that the organization occupies in the market, the availability of resources, the length of the period, the main goal can be specified. So, for the long-term period, this is the achievement of the largest amount of profit, and for the short-term period, the required amount of profit with certain volumes of sales and other activities. As for the commonality for both periods, it is necessary to ensure the competitiveness of the organization.

Considering the purpose of the organization's activity, it is impossible not to touch on the basic principle of the activity of an economic entity, which is the desire to maximize profits. For this reason, profit is the main indicator of production efficiency, is a source of expanded reproduction, and forms the basis for the economic development of an enterprise, because profit growth creates a financial basis for self-financing, technical re-equipment, and solving the problems of the social and material needs of the team. Therefore, in market conditions, the orientation of economic entities to make a profit is an indispensable condition for successful entrepreneurial activity.

In a market economy, profitability indicators are also of great importance, which are relative characteristics of financial results and the efficiency of an enterprise.

Therefore, it is very, very important to know the essence of profit and profitability, the factors affecting their size, the reserves for increasing profits and increasing profitability, which should be constantly put into action.

The relevance of the chosen topic is determined by the fact that the indicators of financial results (profit) characterize the absolute efficiency of the enterprise's management in all areas of its activity: production, marketing, supply, financial, investment.

These indicators form the basis of the enterprise's economy and the strengthening of its financial relations with all participants in the commercial business.

The purpose of the work is to reveal the main aspects of the analysis of the financial performance of the enterprise (profit and profitability) and explore ways to improve the financial performance of the organization.

To achieve this goal, it was necessary to solve the following tasks:

To study the theoretical foundations for assessing the financial results of an enterprise, namely the economic essence of financial results, the importance of profit as a result of entrepreneurial activity, as well as planning and forecasting profits as an integral part of managing the financial results of an enterprise;

Conduct an appropriate analysis of the most important indicators that reflect the financial result of the enterprise;

Consider some features of foreign experience in profit and profitability analysis;

Based on the results of the analysis, give recommendations for improving the financial performance of the enterprise.

The object of the study is the activity of the enterprise OJSC "Neftekamskshina", which operates in modern economic conditions. The subject of the study is the financial results of the enterprise.

The theoretical basis of the study was the works of domestic scientists and economists on the topic under study, such as Yu.S. Shevchenko, N.V. Lipchiu, A.A. Kanke, N.N. Selezneva, I.N. Sheremet and others, materials of periodicals and online publications. The annual reporting of the analyzed enterprise for 2007-2008 served as the information base of the study.

Methodological basis research were such methods as analysis, a logical approach to assessing economic phenomena, comparing the studied indicators.

The practical significance of the work is to develop recommendations for improving the financial performance of the enterprise.

The work consists of an introduction, three chapters, a conclusion, a list of references, an appendix.

In the introduction, the relevance of the topic is substantiated, the goal is determined and tasks are formed, the object and subject of the study are indicated.

The first chapter reveals the theoretical aspects of the analysis of financial results.

The second chapter provides a direct analysis of financial results on the example of the enterprise JSC "Neftekamskshina".

The conclusion contains brief conclusions on sections of the main part of the work.

1. Theoretical foundations for assessing financial results

enterprise activities

1.1 Economic essence of financial results

The state of the financial and economic activities of the enterprise can be assessed on the basis of studying the financial results of its work. Profit is the financial result of the enterprise, characterizing the absolute efficiency of its work. Profit is the end result of the enterprise.

In modern economics the term "profit" and its content cause a lot of controversy and inconsistency. The current possibility of ambiguous interpretation of the definitions of the type of profit gives rise to problematic situations related to the assessment and study of this complex economic category. With the development of economic theory, the set of concepts and terms that define profit has undergone significant changes from the simplest as income from production and sales to the concept that characterizes the final financial results in all the variety of commercial activities.

Profit and profitability are the most important indicators characterizing the economic results of the production and commercial activities of economic entities in a market economy.

The economic activities of the organization are quite diverse, these are production, supply, marketing and commercial activities. Therefore, the profit of the organization takes different forms. The starting point in calculating profit indicators is the proceeds from the sale of products, goods and services, which characterizes the completion of the organization's production cycle, the return of funds advanced for production and their transformation into cash, as well as the beginning of a new cycle in the circulation of all funds. The change in sales volume has the most sensitive impact on the financial performance of the organization.

The classification of types of profit is shown in Figure 1.

Figure 1 - Classification of profit indicators

So, the main types of profit are as follows:

Gross profit is the difference between sales revenue and cost of goods sold for the same period. The amount of gross profit is used to characterize the effectiveness of activities production units organizations;

Profit from sales of products - the difference between the gross profit and expenses of the period for the main activities for the same period. The subtraction of recurring expenses from gross profit, in accordance with international accounting standards, contributes to the division of the risk of the entrepreneur from the possible non-sale of products with the state. The amount of profit from sales is used to evaluate the effectiveness of the main activity;

Profit from financial and economic activities - the sum of profit from sales and the total result from financial operations (interest receivable and payable, income from participation in other organizations, etc.). The value of this profit is used to evaluate the main and financial activities of the organization;

Profit before tax (balance sheet profit) is the sum of profit from financial and economic activities and profit (expense) from other non-operating transactions. Balance sheet profit is an indicator of the economic efficiency of all economic activities of the enterprise;

The net profit (loss) of the reporting period is the balance sheet profit minus the current income tax.

The concept of net profit in Russia does not correspond to the concept of net profit by international standards. Net income in Russia includes significant expenses (consumption funds, social sphere etc.), which is unacceptable by Western standards. The amount of retained earnings reflects the final financial result of the organization's activities for the reporting period, including all types of expenses and income.

It is also important to divide profit into accounting, economic and tax.

Accounting profit - profit from entrepreneurial activity, calculated according to accounting documents without taking into account the undocumented costs of the entrepreneur himself, including lost profits.

Economic profit - the difference between income and economic costs, including, along with total costs, opportunity (imputed) costs; calculated as the difference between the accounting and normal profit of the entrepreneur.

The discrepancy between accounting and economic profit is expressed in the fact that the first does not reflect the economic content of profit, and therefore, the real result of the organization's activities for the reporting period. The economic nature of profit reveals what will be received in the future.

Reporting data on the economic profit of the organization will help users to obtain useful business information.

Also, in accordance with the grouping of activities proposed by IFRS, there are:

Profit from core activities, it is also called operating profit, received from the production and sale of products, performance of work and provision of services. It is calculated as the difference between net sales and the cost of production and sales of products;

Profit from investment activities, which is generated from the transfer of resources to long-term projects;

Profit from financial activities received from the placement of funds on a short-term basis.

According to the composition of the included elements, there are:

Marginal profit (marginal income), which is calculated as the difference between the proceeds from the sale of products, goods and services and variable costs attributable to sold products or as the difference between the selling price of a unit of production and specific variable costs. Serves as an assessment of the ability of the enterprise to cover fixed costs to generate the required amount of profit from sales. Marginal profit underlies the developed alternative management solutions;

The total financial result of the reporting period before interest and taxes. This indicator is used in risk analysis to manage its negative impact for subsequent decision making.

According to the value of the result, the profit can be:

Minimum - the smallest, which is necessary to save the enterprise, continue its operation and prevent collapse;

Super profit (monopoly) - extremely high level profits achieved through the monopoly behavior of enterprises - manufacturers and suppliers of goods to the market;

Normal profit is the level of profit necessary and sufficient to ensure that the resources involved in the production of a particular product are not used for other purposes. In practice, this is the profit on the capital invested in production, which could be obtained with an alternative allocation of the funds of the owners of the enterprise (loans, rent, etc.)

The variety of types of profit is not limited to the considered classification framework.

The activity of any economic entity is determined by the final financial indicator. The financial result of the organization's activities is profit, which provides for the needs of the enterprise itself and the state as a whole, or loss.

The accounting or accounting method of measuring the final results is based on the calculation of profit or loss on accounting documents. According to N.V. Lipchiu and Yu.S. Shevchenko, acting on this moment financial statements do not allow obtaining an objective assessment of the activities of organizations, since they are to some extent an expression of the subjective opinion of the economists who form them, which is manifested in the choice of one or another variant of the accounting policy.

Currently, there is no clear interpretation of reporting elements and criteria for their recognition. The discrepancy between accounting and tax accounting further complicates the formation of profits. There are serious differences in the definition of income, expenses and profits.

The studies of N.V. Lipchiu and Yu.S. Shevchenko showed that in order to determine the final financial result of the activities of organizations, it is important to group income and expenses, which is presented in international financial reporting standards (IFRS). In IFRS, grouping is carried out depending on three types of activities: operating, investing and financial. This makes it possible to ensure control, firstly, over the degree of risk of capital investment, and secondly, over the efficiency of operations. In addition, such a classification will make it possible to determine the return on assets for each of the activities.

As a result of the comparative analysis of domestic and foreign practice accounting and reporting, it has been established that in countries with developed market economies, the organization's activities are divided into operating, investment and financial.

N.V. Lipchiu and Yu.S. Shevchenko believe that in domestic accounting and reporting it is necessary to single out the activities of the organization in terms of current, investment and financial. To do this, make the appropriate changes and additions to PBU 9/99 and PBU 10/99.

Thus, the problem of classification of income and expenses is complicated by the fact that there is a different grouping in tax accounting.

The discrepancy between accounting and taxable profit is expressed in temporary differences and income recognition calculations for the purposes of accounting and tax accounting.

The presence of various groups of users of information on financial results and agency groups that are directly related to an economic entity creates a certain conflict of interest. At the same time, the interests of each group can be clearly formulated and represented through financial performance indicators.

Analyzing the content of the table presented in Appendix B, one can see that the greatest contradictions arise among such groups as the owners of the organization and management. The problem of agency relations associated with a mismatch of interests is considered within the framework of the theory of corporate management and as a separate topic of such an interdisciplinary course as management accounting. In the event that management owns a controlling interest in the company's property (or at least significant blocks of shares), a number of contradictions can be removed.

Management is extremely interested in the high performance of companies. Firstly, the bonus (premium) program depends on profit indicators (especially net profit), and secondly, net profit serves as an important indicator of investment attractiveness for investors, as a result of which, with the growth of this performance indicator (even if actual value, but forecast for future periods) the value of return on assets and capital (the ratio of profit to the total value of assets or capital) increases, as a result, the shares of this company grow, the confidence of creditors and other counterparties increases. And the growth in the value of shares in the financial markets directly leads to an increase in the wealth of the owners, therefore, management strives to obtain high profit rates (from which dividends will be accrued to shareholders) and the presentation of attractive financial information that contributes to a positive growth dynamics in the market value of the company's shares. Hence the temptation to present the final results in a more attractive form. This can be done in the following ways: through the use of leasing schemes for the withdrawal of assets to affiliated companies (thus, the return on assets increases while maintaining actual control over the property withdrawn from the company); skillful manipulation of the methods and procedures of accounting and accounting estimates permitted by international and national standards, in order to increase profits; in the process of making payments of remuneration to management using various financial instruments (which leads to a dubious underestimation of the amount of management expenses and, ultimately, to an increase in profits); transfer of unprofitable business segments to subsidiaries; presentation of unreliable financial information in statements, etc. in this regard, a new, no less complex problem of the quality of the audit of financial statements arises. The situation when audit firms perform at the request of management consulting services, receive large remuneration and at the same time must be absolutely objective in expressing their professional opinion on the degree of reliability of financial statements (which auditors must convince shareholders and other interested users of financial information), is more than complicated.

The current possibility of ambiguous interpretation of certain provisions of legislative documents, as well as contradictions between individual regulations and directly within them between individual clauses give rise to problem situations, which are exacerbated by the separation of legislative and regulatory acts into acts regulating the accounting procedure, and acts by which should be guided for tax purposes.

Thus, the studies conducted by N. V. Lipchiu and Yu.

The analysis of the financial performance of the enterprise includes, as mandatory elements, firstly, an assessment of changes in each indicator for the analyzed period (²horizontal analysis² of indicators); secondly, an assessment of the structure of profit indicators and changes in their structure (²vertical analysis² of indicators); thirdly, the study, at least in the most general form, of the dynamics of changes in indicators for a number of reporting periods (²trend analysis² of indicators); fourthly, the identification of factors and causes of changes in profit indicators and their quantification.

The scheme for analyzing the financial results of the enterprise is presented in Appendix B.

The financial results of the enterprise's activities are characterized by indicators of the profit received and the level of profitability. Therefore, the system of indicators of financial results includes not only absolute (profit), but also relative indicators (profitability) of efficiency of use. The higher the level of profitability, the higher the efficiency of management.

1.2 Profit as a result of entrepreneurial activity

Profit is an ambiguous term. Most often it is seen as a monetary success, a positive result, a reward for risk. Profit arises as a result of production, trade, research, creative, speculative and other entrepreneurial activities.

The possibility of making a profit stimulates risk behavior, the desire for innovation, the development of new technologies, materials, and products.

In a market economy, the importance of profit is enormous. The desire to make a profit directs commodity producers to increase the volume of production needed by the consumer, reduce production costs. With developed competition, this achieves not only the goal of entrepreneurship, but also the satisfaction of social needs. For the entrepreneur, profit serves as a signal indicating where the greatest increase in value can be achieved, creates an incentive to invest in these areas. Losses also play their part. They highlight mistakes and miscalculations in the direction of funds, organization of production and marketing of products.

Economic instability, the monopoly position of producers' goods distort the formation of profit as a net income, lead to the desire to receive income mainly as a result of price increases. The financial recovery of the economy, the development of market pricing mechanisms, and an optimal tax system contribute to the elimination of inflationary filling of profits. These tasks should be performed by the state in the course of implementing economic reforms.

In domestic economic theory for a long time labor was thought to be the only source of income. Without a doubt, labor is a source of profit formation, but it can also be obtained on the basis of attracting capital, as well as with the help of a number of other factors.

Thus, the American economist Samuelson believed that profit is an unconditional income from factors of production, it is a reward for entrepreneurial activity, technical innovations and improvements, for the ability to take risks in conditions of uncertainty, it is a monopoly income and an ethical category.

With the development of market relations, other sources of its formation were increasingly named: the initiative of entrepreneurs; favorable circumstances; profit recognized by the tax authorities, etc.

Undoubtedly, the listed sources contribute to the formation of profit, but they are so closely interconnected that it is difficult to identify them in practice, and often it is simply impossible to do this.

Thus, the formation of profit goes a long way and begins with its calculations and taking into account the factors influencing it. In general, direct factors, obvious and understandable, can be distinguished. The higher the prices, the greater the profit; the greater the volume of output, the greater the profit; the lower the cost of production and sales of products, the greater the profit. In addition to factors that directly affect the size and dynamics of profits, there are also factors of indirect impact. They can be grouped into two groups:

Factors that depend on the efforts of the enterprise:

Management level;

Competence of management and managers;

Product competitiveness;

Organization of production and labor;

labor productivity;

Status and efficiency of production and financial planning;

Factors that do not depend on the efforts of the enterprise:

Market conditions;

The level of competition;

inflationary processes;

The level of prices for consumed material and raw materials, fuel and energy resources;

Tax payments on profits.

Since profit is a source of production, scientific, technical and social development, its absence puts the enterprise in an extremely difficult financial situation, which does not exclude bankruptcy.

The essence of profit is most fully expressed in its functions. In the domestic literature there are discrepancies in the number of functions and their interpretation, but the following are most often distinguished:

In a generalized form, profit reflects the results of entrepreneurial activity and acts as one of the indicators of its effectiveness;

The stimulating function allows you to use profits for the development of production, stimulates the work of employees of the enterprise, ensures social development, etc. In this capacity, it links the interest of the organization and staff, as it stimulates their desire to carry out more efficient business activities in order to get more benefits in the form of profit;

Profit acts as a profitable source for financing public expenditures (public investment, industrial, scientific, technical, socio-cultural programs).

In the current economic situation - inflation, all the general debt, income differentiation, unemployment - the immediate goal of the enterprise is survival. For sustainable economic functioning and development, an enterprise needs to solve a number of tasks, including:

Determination of the most effective enterprise development strategy;

Determination of possible ways to bring the enterprise to a more favorable trajectory of promotion;

Determination and use of various methods to improve the financial position of the enterprise, management of cost, prices, sales proceeds, etc.;

Definition of investment and dividend policy.

The basis for solving these problems of financial management is the assessment of the economic efficiency of management using a wide range of indicators, one of which is profit.

Profit - it is one of the constituent elements of market relations. How does the economic category of profit reflect net income created in the field material production, services in the process of entrepreneurial activity.

To identify the financial result, it is necessary to compare the revenue that the entrepreneur received in the course of selling his products and the costs of production and sales. If the revenue is greater than the cost, the financial result indicates a profit. The entrepreneur always aims to make a profit, but does not always extract it.

This is due to the fact that many components, both positive and negative, act on profit. Leading value profit does not mean that it must be received at the expense of production and social development enterprises. An increase in prices, an increase in cheap, but low-quality products, can only temporarily allow an increase in profits.

Under these conditions, it is necessary to study the market conditions of management and use the most favorable profits for long-term growth. These include the release of diverse and competitive products that are in demand, the reduction of all types of costs, the observance of a strict regime of savings in spending money, and the modeling of pricing policy. The problem of pricing occupies a key place in the system of market relations. Rising prices, on the one hand, increases profits, on the other hand, it restrains demand for expensive products. When developing and launching new products, works and services, it is necessary to carefully consider all costs, the possible level of profitability and set prices with the prospect of reducing them. Positive is the complete independence of the enterprise in the full and free use of profits, which remains after taxes at its disposal.

However, in large commercial complexes, recommendations are constantly being developed for the operational and strategic management of the company's income.

The main goal of any commercial structure is to maximize the profits of its owners. Using this indicator as an assessment of activity, you can try to steadily increase the income of the enterprise through a number of activities:

Management of the product range, ranking it in descending order of profitability;

Planning for updating the product range;

Updating obsolete equipment and mastering new technologies;

Development of operational plans for the development of production for a long time;

Definitions of investment and dividend policy;

market use valuable papers.

Most of all, in the bulk of business entities, the main attention is paid to the well-known factors of income growth associated with the operation of the enterprise: the growth of production volume, the reduction of costs for the production of goods and services, and the optimization of prices.

The optimal use of most of the listed opportunities for profit growth can be obtained as a result of a deep analysis by the criterion of profitability, enumeration of possible options, sound strategic plans for profit.

1.3 Methodology for analyzing the financial results of an enterprise

In conditions modern development Russia for effective management the economic activity of the enterprise increases the role of the information base available to the head, an important part of which is occupied by information about financial results. Their analysis helps in making managerial decisions, both strategic and tactical.

The methodological basis for the analysis of financial results in the conditions of market relations is the model of their formation and use adopted for all enterprises, regardless of the organizational and legal form and form of ownership.

Starting the analysis of financial results, it is necessary to identify whether, in accordance with established order economic indicators are calculated: gross profit; profit (loss) from sales; profit (loss) before taxation; net profit (loss) of the reporting period and all initial components for generating profit, such as revenue (net) from sales of goods, products (works, services); the cost of selling goods, products (works, services); sales and administrative expenses, other income and expenses; confirm the accuracy of the data of Form No. 1 "Balance Sheet" and Form No. 2 "Profit and Loss Statement".

The analysis of financial results involves the solution of the following tasks:

Analysis of the composition and dynamics of profit;

Factor analysis of profit;

Analysis of profitability indicators.

The analysis of the financial result based on the income statement as mandatory elements includes reading the financial statements and studying the absolute values presented in the statements, i.e. "horizontal" - allows you to compare each position with the previous period and "vertical" analysis of the results – allows you to determine the structure of the final financial indicators with the identification of the impact of each reporting position on the result as a whole.

In addition to vertical and horizontal analysis, the study of the financial result traditionally involves the study of the dynamics of indicators for a number of reporting periods, i.e. trend analysis.

Information base for performance of such analysis serve reports on profits and losses.

Conducting a trend analysis of financial results at Russian enterprises is difficult. In recent years, the forms and composition of reporting indicators, the interpretation of certain business transactions, and the procedure for their reflection have repeatedly changed. Therefore, ensuring the comparability of data over periods is possible only with recalculations based on primary documents. When choosing a list of factors and a methodology for assessing their quantitative impact on profit from sales, a specific calculation algorithm is determined based on a study of the nature of products, volume and quality background information, the possibility of obtaining additional data, and also depending on the required accuracy of the data.

The analysis of the financial performance of the enterprise is based on the analysis of profit, as it characterizes the absolute efficiency of its work. The analysis of the formation and use of profits is carried out in several stages: the profit is analyzed by composition in dynamics; a factor analysis of profit from the sale is carried out; the causes of deviations for such components of profit as operating, non-operating income and expenses are studied; the formation of net profit and the impact of taxes on profits are assessed.

To analyze and evaluate the level and dynamics of profit indicators, a table is compiled that uses data from the financial statements of an economic entity from Form No. 2. The information contained in the financial plan and form No. 2 allows you to analyze the financial results obtained from all types of activities of an economic entity. Factor analysis of profit is important for assessing the financial performance of an enterprise.

The most important component of accounting profit is the profit from the sale of products (profit from sales). The object of factor analysis may be the deviation of the actual profit from sales from the profit of the previous year or provided for by the business plan.

Factor analysis of the organization's profit is carried out based on the order of its formation.

P = q - s - y - k, (1.1)

where q - the number of products sold;

c - cost of goods sold;

y - administrative expenses;

k - commercial expenses.

The analysis of profit from sales involves not only a general assessment of the dynamics of the implementation of the plan for profit from sales, but also an assessment of various factors affecting the size and dynamics of profit from sales.

The main factors affecting the amount of profit from sales are:

The number of products sold - the profit from sales is directly dependent on the number of products sold, the larger it is, the more the company makes a profit with profitable operation;

Cost of goods sold;

Business expenses;

Management expenses.

Profit from the sale is inversely related to their value, that is, the amount of funds necessary to pay for current expenses arising in the course of production and economic activity. Reduction in cost of goods sold, selling and administrative expenses are the main factors for increasing profits:

Selling prices for products sold. Profit is directly dependent on the price level, that is, the higher the selling price, the more profit the company will receive, and vice versa, a decrease in prices leads to a reduction in sales and, consequently, profit.

Structural shifts in the composition of sales - the influence of this factor is due to the fact that certain types of goods, products, works, services have an unequal level of profitability. Any change in their ratio in total sales may contribute to the growth of profits or cause its reduction. For example: if the share of more profitable products increases in the total volume of sales, then in this case the profit will grow, and if it decreases, it will decrease. This gives the financial manager control over the possible financial results from the implementation.

In order to analyze the profit from the sale of products, it is necessary to give a general assessment of the change in profit:

± P = P1 – P0 = ± P s ± P y ± P c ± P c + P q ± P t , (1.2)

where ± P - change in profit;

P0, P1 - profit of the base and reporting period;

Then it is necessary to determine the quantitative impact of changes in factors.

To find the values of cost factors (c, y, k), one should compare the cost of goods sold, administrative and commercial expenses for the reporting period and for the reporting period, in prices and conditions of the base year.

± П s = С tsb.op – С tsb.op, (1.3)

± P y \u003d Y tsb.op - Y tsb.op, (1.4)

± P c = K tsb.op – K tsb.op, (1.5)

where ± P s, ± P y, ± P k - change in profit due to changes in cost,

selling and administrative expenses;

C tso.op, U tso.op, C tso.op - cost, commercial and managerial

expenses of the reporting period;

С tsb.op, U tsb.op, С tsb.op - the cost, selling and administrative expenses of the reporting period in the prices of the base year.

The impact of prices on profits can be defined as the difference between the sales proceeds without indirect taxes of the reporting year and the reporting year in prices and conditions of the base year.

± P c \u003d V c.op - V cb.op, (1.6)

where ± P c - profit change due to price change;

In ts.op, - proceeds from the sale of products of the reporting period;

In cb.op, - proceeds from the sale of products of the reporting period in the prices of the base year.

To identify the impact of changes in the number of products sold on profit, you should determine the relative change in the volume of sales at target prices. To do this, we use the index method.

+ P q = (J q - 1) * P base, (1.7)

J q = In cb.op - In cb.bp, (1.8)

where + P q - change in profit due to a change in quantity

sold products;

P bases - profit from sales of the base year;

In cb.bp - proceeds from the sale of products of the base year.

The impact on profit of shifts in the structure of sales can be calculated in various ways. The most common among them are: the balance method.

The balance method of calculation is based on the identity between the total deviation of the actual profit from the planned one and the sum of the values of the previous 5 factors. Hence, the deviation of profit caused by a change in the structure of the range of products sold will be equal to the difference between the total deviation and the sum of the values of all other factors.

± P t = ± P - (± P s ± P y ± P k ± P c + П q) (1.9)

where ± P t is the change in profit due to changes in the structure and range of products sold.

The purpose of the final analysis is to quantify the reasons that caused the change in profits, to identify the impact of costs on changes in profits or the impact on profits of price changes caused by market conditions.

Profitability indicators are important for assessing the effectiveness of the economic activity of each enterprise. Profitability is one of the most important indicators characterizing the efficiency of the enterprise. Profitability more fully than profit characterizes the final results of management, since its value shows the ratio of the effect to the resources used.

For the analysis of profitability, a number of indicators are used, which can be grouped into the following groups:

Indicators calculated on the basis of profit;

Indicators calculated on the basis of production assets;

Indicators calculated on the basis of cash flows.

The general characteristics of profitability indicators are given in Table 1.1.

The first group of indicators is formed on the basis of calculating the levels of profitability (profitability) based on profit (income) indicators reflected in the organization's financial statements. These indicators characterize the profitability (profitability) of manufactured goods. With the help of these indicators, it is possible to determine the influence of factors of changes in the price of goods and their cost on changes in the profitability of goods.

The second group of indicators is formed on the basis of calculating the levels of profitability, depending on the change in the size and nature of the advanced funds, which include all the production assets of the organization, invested capital, share capital. For example, the ratio of net profit (income) to all production assets, the ratio of net profit to invested or equity capital.

The third group of profitability indicators is calculated on the basis of net cash flow. For example, the ratio of net cash flow to sales volume, to total capital, equity, etc. These indicators give an idea of the organization's ability to meet obligations to creditors, borrowers and shareholders in cash.

Table 1.1 - General characteristics of profitability indicators

Name of indicator

Calculation method

Profitability of production activities

R p (profitability of production)

R p \u003d BP / OS + MPZ * 100%

BP - accounting profit (before taxation) (form No. 2),

OS - the average cost of fixed assets for the billing period (form No. 1), inventory - the cost of inventories for the billing period

Return on sales (P sales)

P sales = BP / BP * 100%

BP - accounting profit

BP - sales volume (form No. 2)

Return on assets (property)

Return on total assets (R A)

R A \u003d BP / A * 100%

A - the average cost of total assets for the billing period (form No. 1)

Return on non-current assets (R BOA)

P BOA \u003d BP / BOA * 100%

VOA - the average cost of non-current assets for the billing period (form No. 1)

Return on current assets (ROA)

ROA = BP / OA * 100%

ОА - the average cost of current assets for the billing period (form No. 1)

Return on net working capital (NWOK) (own working capital)

ROCK = BP / CHOK * 100%

NSC - the average cost of net working capital for the billing period.

CHOK (SOK) \u003d equity (III section of the balance sheet) - non-current assets (I section of the balance sheet)

Return on equity (RSC)

RSK \u003d PE / SK * 100%

PE - net profit (form No. 2) SC - average cost of equity for the billing period (form No. 1)

Return on Cost (Rizd)

Rizd \u003d Pi / Si * 100%

P - profit on costing per product (or group of products)

C - the cost of the product according to costing.

Return on sales (RRP)

Ррп = Prp/Срп *100%

Prp - profit from the sale of products

CRP - total cost of sales of products (goods)

The level and dynamics of profitability indicators is influenced by the whole set of production and economic factors: the level of organization of production and management; the structure of capital and its sources; the degree of use of production resources; volume, quality and structure of products; production costs and cost of products; profit by type of activity and direction of its use .

Thus, we can say that the analysis of financial results is one of the most important aspects of the study of the economic activity of the enterprise. Studying the composition and structure of profits, conducting a factor analysis of the result from sales, studying profitability indicators are necessary in order to: competitive advantage and meeting the future needs of the market, that is, economic forecasting.

Having considered the theoretical aspects of the analysis of the financial results of the enterprise, let's move on to a practical analysis based on the data of OAO Neftekamskshina.

2 Analysis of financial results of economic activities of OAO Neftekamskshina

2.1 Brief description of the company's activities

The full name of the enterprise is Neftekamskshina Open Joint Stock Company.

The Neftekamskshina enterprise has existed since 1971. It was created as a base production of tires for the giants of the domestic automotive industry - VAZ and KamAZ, as well as to meet the needs of the secondary market in passenger, truck and agricultural tires.

The first production was received on April 29, 1973. Today OJSC Neftekamskshina is the most large enterprise for the production of tires in Russia and the CIS countries. Almost every third tire produced in Russia is made in Neftekamsk.

Through the efforts of the management of the enterprise, its employees, expanding production in parallel with construction, Neftekamskshina managed to quickly establish production, and later reach such a scale of production volumes and a level of quality that allowed Neftekamskshina OJSC to be rightfully called the flagship of the country's tire industry.

A systematic approach to quality management is the basis of the enterprise's practice. OAO Neftekamskshina aims to increase customer satisfaction through effective application quality management system, including processes for continual improvement of the quality management system and ensuring compliance with customer requirements and mandatory requirements.

The effectiveness of the quality control system is confirmed by a certificate of compliance of the quality system with the International Standard ISO 9001:2000.

A certificate of compliance with the EMS for the design and production of tires for various types of transport and agricultural machinery with the requirements of the international standard ISO 14001:2004 was obtained. The certificate is an acknowledgment of the enormous work that OAO Neftekamskshina carries out in the field of environmental protection and environmental safety.

Product quality is ensured not only by strict final control of all stages of tire creation, work with raw material suppliers, ensuring the accuracy and stability of technological processes, as well as storage and shipment of finished products.

The enterprise has a test base sufficient for a complete and objective assessment of the quality of its products. The central factory laboratory is certified by the Tatar Center for Standardization, Metrology and Certification, and the tire testing laboratory is accredited by the State Standard of Russia for technical competence.

Compliance of tires with state standards and international requirements is confirmed by certificates of conformity in the system of state standards and the United Nations Economic Commission for Europe.

Today JSC "Neftekamskshina" has a modern technological and affordable raw material base, has a qualified staff of specialists. OJSC "Neftekamskshina" - independent entity, whose governing bodies are:

General meeting shareholders - the supreme body;

Board of Directors - provides general management;

Executive body-managing organization Tatneft-Neftekhim LLC (under the contract for the transfer of powers of the sole executive body);

The Executive Director is the General Director of the sole executive body.

The main shareholder of OAO Neftekamskshina is OOO Tatneft-Neftekhim (59.44% of shares). The coordinating center of the tire business process of OAO TATNEFT is the management company OOO Tatneft-Neftekhim.

In the process of production management, OJSC Neftekamskshina interacts with OJSC Tatneft, LLC Tatneft-Neftekhim, Trading House KAMA, LLC Tatneft-Neftehimsnab.

OAO TATNEFT - invests in new technology programs;

OOO Tatneft-Neftekhim is the sole proprietor executive body OAO Neftekamskshina;

JSC "Neftekamskshina" together with Trade House "KAMA" determines the tire production program in terms of assortment, volumes and consumers;

LLC "Tatneft-Neftehimsnab" - purchases raw materials and materials used in the production of tires, as well as equipment, tooling, spare parts and SI, the need for which is determined by OJSC "Neftekamskshina";

TD "KAMA" - sells tires.

JSC "Neftekamskshina" includes: a plant for mass tires, a plant for truck tires and the production of passenger radial tires (PLRSh).

The range of products manufactured by the plant of mass tires:

Pneumatic tires for cars and trailers;

Pneumatic tires for light trucks and buses of extra small capacity;

Pneumatic tires for tractors and trailers, and agricultural machines;

Pneumatic tires for floor trackless electric vehicles.

The range of products manufactured by PLRSh:

Pneumatic tires for cars.

The range of products manufactured by the truck tire plant:

Pneumatic tires for trucks and trailers, buses and trolleybuses;

Tires with adjustable pressure;

Pneumatic tires for tractors and trailers, and agricultural machines.

The plant has implemented and effectively operates the ISO 9001:2000 quality system, certified by the international certification body TUV CERT, which provides for careful control of the raw materials supplied to the plant, materials, components, strict adherence to the regulations technological process throughout the entire cycle of production and testing of finished products, as well as constantly functioning training to improve the skills of personnel

OAO Neftekamskshina has a large creative potential, represented by highly qualified engineering and technical workers, specialists and workers, thanks to whose efforts, the company is able to produce more than 150 tire sizes for any operating conditions. Studying the requirements of consumers, market demand, JSC "Neftekamskshina" constantly expands and updates the range of tires produced.

One of the promising areas of activity of the plants of JSC "NShZ" is the development and development of the production of solid steel cord tires. This is due to the increased demand for technical specifications buses and trucks.

The recognition of OAO Neftekamskshina by domestic and foreign consumers is confirmed by Russian and international awards for product quality.

1999 - “Letter of thanks to the best supplier of JSC AvtoVAZ”; Diploma "For the promotion of products for the automotive industry to the market of Russia and Tatarstan" (Kazan, Avtosalon); Diploma of the participant of the fourth international motor show "Avtosalon-99" (Moscow).

2000 - Gold medal of the International project "Investments-2000"; Diplomas of the 9th International Motor Show "Autosalon-2000" (St. Petersburg), trade and industrial exhibition-fair "Big Volga-2000";

2001 - two gold and one bronze medals at the exhibition "Tires, RTI and rubber" (Moscow); Diplomas of the Russian Chamber of Commerce and Industry "For the best ecology"; International Havana Exhibition and International London Exhibition;

2002 - Silver medal at the exhibition "Tires, RTI and rubber" (Moscow);

2003 - two gold, one silver and one bronze medals at the exhibition "Tires, RTI and rubbers" (Moscow).

2003 - two tires were awarded the Russian Quality Diploma, confirming compliance with the highest level established by the Russian Quality Program at the forum of the All-Russian Quality Organization dedicated to world day Quality and European Quality Week”;

2004 - one gold, two silver and one bronze medal at the exhibition "Tyres, RTI and rubbers" (Moscow) in the framework of the competition "Best car tire on the Great Danes of Russia. Diplomas of the first degree for two tires at the exhibition “Oil. Gas. Petrochemistry, Kazan. Category "reliable supplier" JSC "AvtoVAZ" and "Izh-Avto".

2005 - two gold medals, one silver medal in the contest "The Best Tire on the Roads of Russia", a diploma and a Grand Prix Cup for contribution to the development of the petrochemical industry, at the exhibition "Tires, Rubber Products and Rubbers" (Moscow). Category "Excellent supplier" - OAO "AvtoVAZ" and OAO "KamAZ". Diploma of the 10th degree of the International Salon "Motor Show", in the competition "Perspective" among manufacturers of automotive components in the nomination "Best Tire".

According to the results of the seventh All-Russian competition "1000 best enterprises and organizations of Russia-2006" OJSC "Neftekamskshina" was awarded the medal "For efficient activity, high achievements and stable work».

2007 - the diploma of the Russian Quality program for a new type of product was received for the second time by OAO Neftekamskshina.

To date, the association has accumulated a lot of practical and theoretical experience in mastering and improving the tires produced, and testing the finished product.

2.2 Assessment of the dynamics and structure of the enterprise's profit

The model of formation of financial results is the same for all enterprises, regardless of the organizational and legal form of management and ownership. The final financial result of the activity is book profit (or lesion).

Assessment of the dynamics and structure of the enterprise's profit is one of the most important aspects of the study of the economic activity of the enterprise. The study of the dynamics and structure of profit is necessary for economic forecasting and evaluation of financial indicators. In the process of conducting an analysis, the composition of profit, its structure and dynamics are studied.

Each enterprise follows its own economic interests, which consist in increasing the share of profits that remain at its disposal and are directed to its development. Commodity producers seek to make a profit, and focuses on increasing the volume of production, reducing costs. Enterprises are interested in increasing profits, this is due to the emergence of additional features to reduce production costs. Profit - a positive financial result from the activities of the enterprise.

The enterprise satisfies the economic interests of the state, this is ensured by the payment of taxes. With the funds received from the payment of taxes, the state solves social problems.

In order to analyze the dynamics and level of indicators of the financial results of OAO Nizhnekamshina for 2007-2008. we will compile table 2.1, in which we use the data of the profit and loss statement of the enterprise (form No. 2) - (Appendix A). The information contained in the data of the profit and loss statement of the enterprise will allow us to analyze the financial results of all types of activities of OAO Neftekamskshina.

Table 2.1 - Profit of OAO Neftekamskshina for 2007-2008

The name of indicators			Deviation
The name of indicators			thousand roubles.	%
1 Proceeds (net) from the sale of goods, products, works, services (net of VAT, excises and similar payments)	6324459	7409233	+1084774	17,15
2 Cost of sold goods, products, works, services	5781062	6899657	+1118595	19,35
3 Gross profit	543397	509576	-33821	-6,22
4 Selling expenses	-	-	-	-
5 Management expenses	-	-	-	-
6 Profit (loss) from the sale of products (works, services)	543397	509576	-33821	- 6,22
7 Interest receivable	3275	12	-3263	-99,63
8 Interest payable	496	5759	+5263	1061,09
9 Income from participation in other organizations	190	271	+81	42,63
10 Other income	139216	105 225	-33991	-24,42
11 Other expenses	511299	691605	+180306	35,26
12 Profit (loss) before taxation (clause 12+clause 13–clause 14)	174283	-82280	-256563	-147,21

According to Table 2.1, it can be seen that in 2008 the company did not achieve high financial results in economic activities compared to the actual data of the previous year. In 2008, the profit before tax decreased, and compared to 2007, it amounted to 256,563 thousand rubles. or 147.21%.

Considering the dynamics of financial results, the following changes should be noted. Despite the fact that in 2008 the net proceeds from the sale of goods, products, works, services increased by 17.15%, the profit from the sale decreased by 33,821 thousand rubles. This indicates a relative increase in production costs. The increase in cost is due to the rise in the cost of raw materials, as well as to the increase in the wages of production workers.

The result from the financial activity of the enterprise is negative, which subsequently led to a decrease in the amount of profit in 2008 by 8526 thousand rubles. ((-3263) - 5263), or by 1.15% (8526/ 174283* 100).

Also, the excess of other expenses over income had a negative impact on the financial result of OAO Neftekamskshina, which reduces the profit of 2008 by 146,315 thousand rubles. ((-33991) - (-180306)) or 83.95% (146315 / 174283* 100).

At the next stage, we will consider the analysis of the profit structure for each element. Based on this type of analysis, it is possible to trace the dynamics of changes in the share of each element in the composition of profits and identify the factors that influenced this change.

Analysis of the structure of profit (vertical analysis) indicates that the main factor affecting the amount of profit are other expenses: in 2007 - 293.4% (511299 / 174283 * 100); in 2008 - 840.6% (691605/ 82280 * 100). Despite the increase in the share of other expenses by 547.2 points compared to the previous year, their decrease in absolute amount amounted to 180,306 thousand rubles. or 35.26%.

Net income is one of the most important economic indicators and characterizes the final results of the enterprise. Net profit is the profit at the disposal of the enterprise, which remains after the payment of all taxes, economic sanctions and contributions to charitable foundations. Quantitatively, net profit is the difference between the total amount of gross profit and the amount of taxes paid to the budget from profits, economic sanctions and other obligatory payments of the enterprise covered from profit.

The amount of net profit depends on the factors of change in the total amount of gross profit and factors that determine the share of net profit in the total amount of profit, namely the share of taxes, economic sanctions, etc. Based on the data in Appendix A (profit and loss statement - Form No. 2 ) determine the amount of net profit (table 2.2).

Table 2.2 - Determination of the amount of net profit of OAO Neftekamskshina for 2007-2008

Index	Indicator level, thousand rubles		Deviation	Share in total profit, %		Deviation
Index	2007	2008	Deviation	2007	2008	Deviation
1 Total gross profit	174779	-76521	-251300	100,0	100,0	─
2 Interest payable	496	5759	+5263	0,28	-7,53	-7,81
3 Profit before tax	174283	-82280	-256563	99,72	107,53	7,81
4 Income tax and other similar payments	208847	101165	-107682	119,49	-132,2	-251,69
5 Extraordinary income and expenses	─	─	─	─	─	─
6 Net income	-34564	-183445	-148881	-19,78	-208,37	-188,29

Thus, according to Table 2.2, it can be seen that the actual amount of net profit in 2008 is less than the amount of profit in 2007 by 148,881 thousand rubles. Analysis of the structure and dynamics of financial results for the period 2007-2008. made it possible to give a general assessment of the change in the profit of OAO Neftekamskshina.

From the above analysis of financial results, it follows that one of the determining factors in the formation of profit was the growth in sales proceeds in 2008 by 17.15%. Also, the change in profits was positively affected by cooperation with other enterprises and the income from this amounted to 81 thousand rubles or 42.63%.

2.3 Factor analysis of enterprise profit

The indicator of profit from sales is formed under the influence of many factors. In this regard, when analyzing it, it is important to comprehensively study the factors that affect it, to determine the degree of influence of each of them.

To determine the amount of profit and subsequent calculations, the following initial data of the enterprise, given in table 2.3, were used.

Table 2.3 - Data for calculating the profit of the enterprise

Index	2007	2008	Deviation
Sales volume, thousand pieces (VRP)	12414,9	11880	-534,9
Average unit price products, rub. (C)	509,42	623,67	+114,25
Average cost, rub. (FROM)	465,66	580,78	+115,12

A formalized calculation of profit from the sale of products can be represented as:

P \u003d VRP * (C-S). (2.1)

In order to analyze the profit from the sale of products (works, services), it is necessary to give a general assessment of the change in profit:

(2.2)

Then it is necessary to determine the quantitative impact of changing factors on the amount of profit from the sale of products.

The calculation of the influence of factors on the amount of profit can be performed using the chain substitution method, using the data shown in Table 2.4.

Table 2.4 - Initial data for factor analysis of profit from product sales, thousand rubles.

Index	Base period (2007)	Base period data recalculated for the sales volume of the reporting period	Reporting period (2008)
Revenue (net) from the sale of products, goods, services (B)	= 6324459	=	= 7409233
Total cost of goods sold (C)	= 5781062	=	= 6899657
Profit (P)=	543397	519868,8	509576

To analyze the profit from sales as a whole for the enterprise, the following indicators are calculated:

Amount of profit in 2007:

P= - \u003d 6324459 - 5781062 \u003d 543397 thousand rubles.

The amount of profit with the actual sales volume and the base value of other factors:

P \u003d P * I \u003d 543397 * 0.96 \u003d 521661.12 thousand rubles.

The amount of profit with the actual volume and structure of products sold, but with a basic level of cost and prices:

P= -=6051909,6 – 5532040,8=

519868.8 thousand rubles

The amount of profit with the actual sales volume, structure and prices, but with a basic level of production costs:

P= -=7409233 – 5532040,8=

1877192.2 thousand rubles

Amount of profit for 2008:

P= -=7409233-6899657=509576 thousand rubles

We determine the total change in profit from the sale of products:

P - P \u003d 509576 - 543397 \u003d - 33821 thousand rubles.

Change in the amount of profit due to:

Sales volume

P - P \u003d 521661.12 - 543397 \u003d -21735.88 thousand rubles;

Structures of marketable products

P - P \u003d 519868.8 - 521661.12 \u003d -1792.32 thousand rubles;

Selling prices

P - P \u003d 1877192.2 - 519868.8 \u003d +1357323.4 thousand rubles;

Cost of goods sold

P - P \u003d 509576 - 1877192.2 \u003d - 1367616.2 thousand rubles.

The calculation results show that the growth in profits is mainly due to an increase in average selling prices - due to an increase in selling prices by 114.25 rubles. profit increased by 1357323.4 thousand rubles.

Decrease in the amount of profit by 21,735.88 thousand rubles. contributed to the decrease in the volume of sales of products by 534.9 thousand units.

Change in the structure of marketable products, i.e. a decrease in the share of profitable types of products led to a decrease in profit by 1792.32 thousand rubles.

In connection with the increase in the cost of production by 115.12 rubles. the amount of profit decreased by 1367616.2 thousand rubles. Since the growth rate of the cost of the company's products was higher than the growth rate of its average selling prices, then, in general, the dynamics of profit is negative.

The cumulative influence of the factors discussed above is 33,821 thousand rubles. Which negatively affected the profit, and in 2008 amounted to 509,576 thousand rubles.

2.4 Estimation of profitability indicators of OAO Neftekamskshina

In the system of indicators characterizing the financial condition and efficiency of the enterprise, the leading place is occupied by profitability indicators.

Profitability is a relative indicator that determines the level of profitability of a business. Profitability indicators characterize the efficiency of the enterprise as a whole, the profitability of various activities. The economic essence of profitability can be disclosed only through the characteristics of the system of indicators. Their general meaning is to determine the amount of profit from one ruble of invested capital.

Profitability indicators are important characteristics factor environment for the formation of profit and income of the enterprise, therefore they are mandatory elements of comparative analysis and assessment of the financial condition of the enterprise from various positions.

An analysis of profitability indicators makes it possible to evaluate current economic activity, reveal reserves for increasing its efficiency and develop a system of measures for the use of these reserves.

The analysis begins with the calculation of profitability indicators both for the enterprise as a whole and for individual types of products.

Product profitability

R(2007)= = 9.4%; R(2008)= 7,3%

Profitability of turnover for the company as a whole is:

R(2007)= 8.6%; R(2008)= 6,8%.

Return on assets:

Return on equity:

R(2007)= 54.1%; R(2008)= =62,3%.

Profitability of the enterprise (production):

R(2007)= =14,3%;

R(2008)= = 11,6%.

The calculated indicators are summarized in Table 2.5.

Table 2.5 - Calculation of profitability indicators

After analyzing the obtained data, the following conclusions can be drawn. Indicators of profitability of products and profitability of turnover, return on assets calculated for the whole enterprise are not high enough, in addition, there was a decrease in the level of these indicators. It is also necessary to pay attention to the high rates of return on equity. The production profitability of the enterprise under consideration decreased by 3.3% compared to 2007

The next stage of the analysis is the study of factors affecting the value of profitability. To do this, it is necessary to conduct a factor analysis of the profitability of products and the profitability of turnover.

The level of profitability of products, calculated as a whole for the enterprise, depends on three main factors of the first order: changes in the structure of products sold, its cost and average selling prices.

The factor model of this indicator has the following form:

R= (2.3)

Calculation of the influence of factors of the first level on the change in profitability for the whole enterprise can be performed by the method of chain substitution:

R== = 9,4%;

R== *=9,4%;

R== =9,4%;

R= =33,9%

R= =7,4%.

R= R - R = 7.4–9.4= - 2%;

R- R \u003d 9.4 - 9.4 \u003d 0;

R- R=9.4 – 9.4= 0;

R- R= 33.9 - 9.4= +24.5%;

R- R \u003d 7.4 - 33.9 \u003d - 26.5%.

The results obtained indicate that the level of profitability, calculated as a whole for the enterprise, decreased by 2%. The decrease in profitability was affected by an increase in the cost of goods sold. However, the growth of average selling prices by 114.25 rubles. caused an increase in the level of profitability by 24.5%.

Produced in much the same way factor analysis of profitability of turnover. The deterministic model of this indicator, calculated as a whole for the enterprise, has the following form:

R= . (2.4)

Knowing what factors changed the profit and revenue from sales of products, you can find out their impact on the change in the level of profitability, successively replacing a basic level of each factor of this model for the actual reporting period.

R== *100%=8,6%;

R *100%=8,6%;

R= *100%=31%;

Change in the level of profitability due to the influence of factors.

R- R \u003d 8.6 - 8.6 \u003d 0;

R- R=8.6–8.6=0;

R- R= 31– 8.6= +22.4%;

R- R= 6.8 - 31= -24.2%;

R= R - R= 6.8 - 8.6= - 1.8%.

Based on the calculated indicators, it can be concluded that the profitability of turnover decreased by 1.8% compared to the previous year. This is due to the increase in the cost of commercial products.

3 Main areas for improving financial results

enterprise activities

3.1 Foreign experience in analyzing the financial results of an enterprise

The methodology for analyzing profit and profitability depends on the completeness of the inclusion of costs in the cost, as well as the availability of separate accounting for variable and fixed costs. This task is served by the classical system of direct costing, which is an attribute of a market economy.

The most important analytical capabilities of the direct costing system are as follows: optimization of profits and product mix; pricing for new products, calculation of options for changing the production capacity of the enterprise; assessment of the efficiency of production (acquisition) of semi-finished products; assessment of the effectiveness of accepting an additional order, replacing equipment.

The essence of the direct costing system is the division of production costs into variable and fixed concepts. marginal income. Contribution margin is the profit plus the company's fixed costs or the difference between sales revenue and variable costs.

MD \u003d P + A \u003d B-R,(3.1)

where MD- marginal income;

P- profit;

AT- revenue;

BUT- fixed costs;

R- variable costs.

Analysis method direct costing allows not only to establish the relationship between these indicators, but also to calculate the amount of income necessary for the profitable operation of an economic entity. The latter circumstance is important in the conditions of market relations, where, with tougher competition and the absence of budget subsidies, the activities of many organizations are unprofitable, especially those that can be classified as “harder to manage”. The unprofitability of the economic activity of such organizations is tantamount to their ruin, since a significant “costly” burden reduces the possibility of overcoming the crisis.

Of great interest is the method of profit margin analysis, widely used in Western countries. Unlike the traditional method of profit analysis, it allows you to more fully study the relationship between indicators and more accurately measure the influence of factors. Let's show it with the help of comparative analysis.

The traditional method of factor analysis of profit involves the use of the following model:

P=VRP*(r-s),(3.2)

where VPP- the physical volume of sales;

R - selling price;

With - total unit cost of a product.

In this case, it is assumed that all these factors change by themselves, independently of each other. Profit changes in direct proportion to the volume of sales, if profitable products are sold. If the product is unprofitable, then the profit changes in inverse proportion to the volume of production (sales) of the product and its cost. With an increase in production (sales), the unit cost of production decreases, since in this case only the amount of variable costs usually increases (piecework wages of production workers, raw materials, materials, process fuel, electricity), and the amount of fixed costs (depreciation, rental of premises, time wages workers, salaries and insurance of the administrative and economic apparatus, etc.) remains, as a rule, unchanged.

Conversely, with a decline in production, the cost of products increases due to the fact that there are more fixed costs per unit of output.

To ensure a systematic approach in studying the factors of changes in profit and forecasting its value in marginal analysis, the following model is used:

P=VRP(r-b)-BUT,(3.3)

where p is the price of a unit of production;

b - variable costs per unit of production;

A - fixed costs for the entire volume of sales of this type of product.

This model allows you to determine the change in the amount of profit due to the number of products sold, prices, the level of specific variables and the amount of fixed costs.

It takes into account not only the direct impact of sales on profit, but also indirect - through the influence of this factor on the cost of the product, which makes it possible to more correctly calculate the influence of factors on the change in the amount of profit.

According to the methodology, taking into account marginal income, profit depends more on the volume and structure of sales, since these factors simultaneously affect the cost.

The application of the methodology, taking into account the marginal income of profit, allows us to explore and quantify not only direct, but also indirect connections and dependencies.

The relationship between the volume of sales of products (sales volume), its cost and the amount of profit is shown in Figure 3.1.

Figure 3.1 - The relationship between the volume of sales of products, its

cost and profit

It is important to note that marginal analysis allows you to determine the critical level of sales volume and the safety zone, the influence of individual factors on the change in the breakeven sales volume, as well as the calculation of the sales volume to obtain a certain amount arrived.

The critical volume of sales, when the business does not bring any profit or loss, i.e. when production costs are equal to sales revenue, can be calculated by dividing the amount of fixed costs by the share of marginal income in revenue.

The security zone can be set using the formula:

ZB = (Qprod. from – Qprod.cr) / Qprod. from , (3.4)

where ZB– security zone;

Qprod. from – sales volume according to the report, rub.;

Qprod.cr – critical sales volume, rub.

In cases where it is necessary to establish the volume of sales of products to obtain a certain amount of profit, the formula is used:

Qsn = (Spos+ П) /dmar , (3.5)

It should be noted that the break-even sales volume and the safety zone depend on the sum of fixed and variable costs and the level of product prices.

Particularly important is the multi-level procedure for calculating profits, when the fixed costs of the period are taken into account at the places of their occurrence: for each type of product; common for several homogeneous types of products; common to the structural unit and common to the enterprise as a whole. The procedure for the multi-stage calculation of the coverage margin and the final financial result is shown in Figure 3.2.

Figure 3.2 - The procedure for determining the financial result

This procedure for determining the financial result will show the participation of each cost center in the formation of its value, will allow identifying and concretizing the causes of losses, and determining the main directions for their reduction.

The profitability analysis methodology, taking into account marginal income, also differs from the profitability analysis methods used in many enterprises. The analysis of profitability, taking into account marginal income, takes into account the factors of disproportionate changes in the costs and profits of the enterprise, depending on the volume of sales of products, since part of the costs is constant.

The profitability of an enterprise is the ratio of actual profit to sales volume. Using the profit and loss account, two main indicators are calculated: net margin and gross margin.

Net margin is calculated using the formula:

Net Margin = (Net Profit / Sales Volume)*100%.(3.6)

The net margin shows what share of sales remains with the company in the form of net profit after covering the cost of goods sold and all expenses of the enterprise. This indicator can serve as an indicator of the acceptable level of profitability, at which the company does not yet suffer losses. Net margin can be influenced pricing policy enterprises (gross margin and markup) and cost control.

Gross margin is calculated using the following formula:

Gross Margin = (Gross Margin / Sales Volume)*100%.(3.7)

There is an inverse relationship between gross margin and inventory turnover: the lower the inventory turnover, the higher the gross margin; the higher the inventory turnover, the lower the gross margin.

Producers must secure a higher gross margin than retail because their product spends more time in the manufacturing process. The gross margin is determined by the pricing policy.

The gross margin should not be confused with another pricing tool, the markup, which is calculated using the following formula:

When setting the markup, you should proceed from the desired strategic position businesses relative to competitors. At one end of the market spectrum are businesses that provide high quality and charge deliberately high prices (that is, with low sales volume). At the other end of the market spectrum are businesses that sell large volumes of goods at low prices.

Also, according to the methodology of marginal analysis, there are profitability indicators that differ from traditional approaches (table 3.1).

Table 3.1 - Methodology for analyzing profitability indicators

Index	Deterministic Factor Models of Profitability
Index	traditional	used in margin analysis
Profitability of the i-th type of product , R i
Profitability of products in general for the enterprise, R
Profitability of the turnover of the i-th type of product , Rabout i
Total turnover profitability, Rabout

According to the traditional method of factor analysis, the volume of sales does not affect the change in the level of profitability, since the numerator and denominator of these models change in proportion to it. The advantage of the method of marginal analysis of profitability indicators is that when it is used, the relationship between the elements of the model is taken into account, as a result of which the influence of sales volume on the change in the level of profitability is captured. This provides a more accurate calculation of the influence of factors and, as a result, a higher level of planning and forecasting financial results.

In addition, this accounting and analysis system is focused not on production, but on sales. It prompts to seek reserves for increasing sales volume: the larger the sales volume, the less fixed costs charged directly to the financial result per unit of products sold, the greater the profit, the higher the profitability. Methods for analyzing profitability and profit indicators, taking into account the marginal approach, take into account the relationship of volume factors production, costs and profits.

A more accurate calculation of these factors ensures a high level of planning and forecasting the financial results of an industrial enterprise.

In foreign scientific economic literature, the second of the considered methodological approaches forms the basis CVP– analysis (cost- Volume- Profit Analysis – CVPA, orCVP). It should be noted that the analysis of the economic potential of the organization is one of the priority areas at the present stage.

However, as the study of the analytical work of Russian enterprises belonging to various sectors of the economy shows, there is practically no analysis of the economic potential today.

The management of the activities of economic entities in the conditions of market relations imposes increased requirements on the analysis and forecasting of the development of a particular situation, a more comprehensive consideration of various, primarily priority, issues of economic activity in their interconnection. Consequently, the priority direction in the development of the methodology and methods of economic potential analysis is the convergence of this type of analysis with other types of analytical research.

As the main indicators of the use of the production potential of an organization (for industrial enterprises), it is possible to use the capital indicator, which most fully and adequately characterizes the dependence of the volume of output and the level of use of the main type of component of the resource base of an economic entity.

The results of a study of data on the work of organizations related to various sectors of the economy show that a significant proportion of costs (up to 80-90% of the total) that cannot be unambiguously classified as constants or variables - these are the so-called combined, or mixed, expenses. For their analysis, the method of "greatest least" is used, which allows you to select the constant part of these costs, calculate the value of average variable costs and, as a result, derive an equation for the functional dependence of the volume of combined costs on the quantitative indicator of output.

The study of the issue of classification of costs showed that in order to achieve greater accuracy of the results of the analysis, and, consequently, the reliability of its conclusions, it is advisable to single out the category of partially variable costs as part of variable costs.

Combining costs into the category of partially variable costs reduces the level of error in analytical conclusions due to the rigid attribution of certain costs to fixed or variable costs.

Partially variable costs include, for example, labor costs for some of the most significant categories of personnel or individual workers, the cost of maintaining equipment in working order, the cost of maintaining buildings and territories, etc. Variable costs are costs material resources associated with the release of products, the cost of electricity for industrial purposes, etc.

It should be noted that organizations with a high proportion of fixed and partially variable costs are more likely to become unprofitable compared to organizations where the level of such costs is low. To difficult to manage can be attributed hotel enterprises, as well as companies in many industries industrial production, both manufacturing, for example, mechanical engineering, and mining, for example, oil and gas. This, in turn, emphasizes the importance of developing methodological approaches to conducting CVP-analysis.

CVP-analysis can be represented graphically (figure 3.3). The graph shows the relationship between the level of use of production potential (X axis), costs and financial results (OS axis).

Figure 3.3 - Graph CVP-analysis used in its implementation

For analysis, of particular interest are the points K 2 and K 3, which are critical, or break-even points ( break- even points).

point essence K 2 is that when using the production potential below the level corresponding to it, the organization cannot cover all the costs associated with the production of products (even at the expense of the entire amount of total income), and therefore, its production activities are unprofitable. On the contrary, when the degree of use of the production potential is greater than the critical level, the profit from sales is positive, i.e. the organization is able to compensate production costs from its gross income.

Under market conditions, a joint analysis of the level of use of production potential, costs and financial results will become increasingly necessary for business entities in all sectors of the economy. The use of this type of analysis is especially important to ensure a clear control over economic situations, a strict interconnection of the main economic indicators, for example, in case of refusal to work "in a warehouse" when diversifying one's economic activity, as well as in resolving issues regarding changes in the level of workload of an enterprise. Relevant analytical studies should be carried out systematically and be an integral part of the process of managing the economic activities of organizations in a market economy.

In a market economy, financial performance management occupies a central place in the business life of business entities. The financial condition is characterized by the availability of financial resources necessary for normal functioning, their appropriate placement and effective use. The purpose of financial performance management is to timely identify and eliminate shortcomings in the development of the organization, find reserves to improve the financial condition of the organization and ensure the financial sustainability of its activities

The effective operation of enterprises and economic organizations, the stable pace of their work and competitiveness in modern economic conditions are largely determined by the quality of financial management. It includes financial planning and forecasting with such mandatory elements as budgeting and business planning, development of investment projects, organization of management accounting, regular comprehensive financial analysis and, on its basis, solving problems of solvency, financial stability, overcoming possible bankruptcy of the enterprise.

The most important form of financial management of an enterprise should be decisions, the essence of which is to form financial resources sufficient for the development of an enterprise, search for new sources of financing in the money and financial markets, use new financial instruments that allow solving key financial problems: solvency, liquidity, profitability and the optimal ratio own and borrowed sources of financing.

According to experts, due to the lack of an established financial management system, companies annually lose at least 10% of their income - the lack of complete and up-to-date financial information leads to erroneous, belated management decisions, many objects financial management out of the control zone.

To accomplish this task, it is necessary to set up an effective financial management mechanism at the enterprise - a tool for increasing the efficiency and manageability of the company, and, consequently, improving the financial results of the enterprise.

Financial performance management is necessary because it allows you to:

Implement strategic goals, support optimal structure and increase the production potential of the enterprise;

Ensure current financial and economic activities;

To participate as an economic entity in the implementation of social policy, which improves the psychological climate in the enterprise.

AT market conditions positive financial results can be achieved only through a general restructuring of enterprise management, the integration of all services and departments is necessary.

One of the significant factors affecting the financial result is the cost. Therefore, it is necessary to consider possible ways to reduce it.

On any industrial enterprise There are three blocks: supply, production and marketing. The activity of the enterprise can be represented as a complicated form of sale and purchase: raw materials, materials, components and work force- on own and leased equipment, products are produced, which are sold through the distribution system. According to experts, the cost reduction reserves are distributed along this chain approximately as follows: in supply - 50%, in production - 10% and in sales - 40%.

The main reserve for cost reduction in supply and marketing blocks is a sound pricing policy that takes into account fierce competition between suppliers and consumers.

Production: Shop managers must work to achieve natural indicators. They should not be responsible for the fact that they were given a resource one and a half times more expensive than the average level. The focus of attention in the production unit is the normative part and the validity of production costs. Therefore, we need standards for all types of material, energy and labor resources.

Cost drivers are the reasons why driving forces leading to cost reduction and the conditions under which they operate.

The following grouping of factors to reduce the cost of production can be applied:

- increasing the technical level of production: introduction of new progressive technology, mechanization and automation of production processes; improvement of applied equipment and production technology; improving the use and application of new types of raw materials and materials; other factors that increase the technical level of production. The decisive condition for cost reduction is continuous technical progress. Implementation new technology, complex mechanization and automation of production processes, improvement of technology, the introduction of progressive types of materials can significantly reduce the cost of production;

- improvement of the organization of production and labor: development of production specialization; improved organization and service; improvement of labor organization; improving production management and reducing production costs; improving the use of fixed assets; improvement of material and technical supply and use of material resources; reduction of transport costs; elimination of unnecessary costs and losses; other factors that increase the level of organization 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 requires the establishment of the most rational cooperative links between enterprises. An increase in the level of specialization and cooperation leads to savings in living and materialized labor per unit of output;

- change in the volume and structure of products: a relative decrease in semi-fixed costs and depreciation; change in the structure of products; improving product quality.

The main sources of production cost reduction are:

Saving material costs through the use of resource-saving technologies, replacing expensive materials with less expensive ones, using rational schemes for cutting materials, reducing material waste, reducing costs associated with the delivery of materials from supplier enterprises to a consumer enterprise;

Reducing the labor intensity of products and, on this basis, reducing the cost of wages with accruals. The main source of cost reduction in this case is the growth of labor productivity. With the growth of labor productivity, the cost of wages per unit of output decreases with a simultaneous increase in the wages of the worker;

Reducing the costs of organizing and managing production, which include the wages of administrative and managerial personnel; maintenance of equipment, buildings and structures; depreciation deductions; travel, postal and telegraph and other expenses. 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 price and general factory expenses for the whole enterprise, the lower the cost of each product, all other things being equal.

Elimination of unproductive expenses, that is, losses from downtime of equipment and vehicles, defective products, etc. Significant reserves for cost reduction are also included 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.

Cost reduction depends on the activity of the enterprise. Each division should have economic groups that ensure cost reduction, for example, as part of the structural divisions and structural units of the enterprise, cost centers and responsibility centers are allocated that provide intra-company management, which makes it possible to evaluate the contribution of each division to the final results of the enterprise, decentralize cost management, and also monitor the formation of these costs at all levels of management, which in general significantly increases the economic efficiency of management. At the same time, the allocation of centers of financial responsibility is dictated by the need to regulate costs and final financial results on the basis of estimates, the responsibility for which lies with the heads of structural divisions of the enterprise.

A significant share of energy costs in the cost of products manufactured by OAO Neftekamskshina, in the context of a constant increase in energy tariffs, sets additional requirements for reducing energy costs.

Together with the Center for Energy Saving Technologies under the Cabinet of Ministers of the Republic of Tajikistan, target program"Energy and resource saving" production complex OAO Neftekamskshina for 2007-2010, according to which the following projects are being implemented:

Introduction of frequency-controlled drives on electric motors technological equipment;

Implementation of soft starters for pumping equipment;

Introduction of energy-saving lamps Dnat for ceiling lighting;

Implementation of Spirax Sarco steam and condensate equipment at the vulcanizers and condensate drain units.

In addition, work continued on the introduction of a unified accounting system for all parameters of energy consumption, which will allow not only to quickly regulate energy saving in all stages of production, but also significantly reduce the cost of manufactured products.

With an increase in the output of OAO Neftekamskshina in 2007 by 1.7% (compared to 2006), the consumption of heat and electricity increased by 0.8%.

In accordance with the Strategic Development Program of OAO Neftekamskshina until 2010, the Company is constantly working to reduce the cost of raw materials and materials.

The main directions of saving material resources are:

Structural changes in tires;

Implementation of economical recipes;

Reducing production waste;

Reducing manufacturing defects;

Exclusion of unreasonable use of expensive materials.

Ongoing analysis and control of costs and profits from sales should be carried out monthly. This will allow timely control of undesirable deviations from the plan, follow the trends in the financial result during the year and the pace of these changes, identify unfavorable reporting periods associated with rising costs and a decrease in sales, and more prosperous months in which the maximum profit was received. A thorough analysis of the reasons that caused the financial result to fluctuate by months of the year will reveal the underlying factors affecting sales profits in certain months (seasons) of the year, and develop a system of measures to eliminate negative phenomena and consolidate positive results.

The analysis must be carried out with the maximum possible detail of indicators for individual types of products (works, services), cost centers and responsibility centers for deviations from the norms of variable costs and estimates of fixed costs. Only with such a detailed analysis can not only specific factors and causes of deviations from the plan be identified, but also the perpetrators of these deviations and specific and effective measures can be taken to reduce costs and increase sales.

As sources of analysis, in addition to planned and regulatory information, they use accounting data on actual sales volumes, selling prices for products and works, on variable costs per unit of output (works, services), on fixed costs associated with the management and maintenance of production, in general. by organization or by its structural subdivisions.

The financial performance of the enterprise depends on such indicators as the cost of sales of products (goods, works, services), commercial and administrative expenses, other income and expenses, income tax, etc. . And since the analyzed enterprise experienced a shortfall in net profit in the reporting period, due to an increase in other income and expenses, as well as sanctions and other mandatory payments, it is necessary to pay special attention to these indicators.

Other expenses include expenses not related to the normal activities of the enterprise (operating, non-operating and extraordinary).

Operating expenses include: expenses associated with the provision for a fee for temporary use (temporary possession and use) of the organization's assets; expenses associated with participation in the authorized capital of other organizations; expenses associated with the sale, disposal and other write-off of fixed assets and other assets other than cash (except for foreign currency), goods, products; interest paid by the organization for providing it with the use of funds (credits, loans), etc.

The composition of non-operating expenses includes: fines, penalties, forfeits for violation of the terms of contracts; compensation for losses caused by the organization; the amount of receivables for which the limitation period has expired, other debts that are unrealistic to collect; exchange differences; the amount of depreciation of assets, etc.

Extraordinary expenses include expenses that arise as a result of extraordinary circumstances of economic activity (natural disaster, fire, accident, nationalization of property, etc.).

Mandatory payments - taxes, fees and other mandatory contributions paid to the budget of the corresponding level of the budget system of the Russian Federation and (or) state extra-budgetary funds in the manner and on the terms determined by the legislation of the Russian Federation, including fines, penalties and other sanctions for non-performance or improper fulfillment of the obligation to pay taxes, fees and other mandatory contributions to the budget of the corresponding level of the budget system of the Russian Federation and (or) state extra-budgetary funds, as well as administrative fines and fines established by criminal law. Reorganization - measures taken by the owner of the debtor's property - unitary enterprise, founders (participants) of the debtor, creditors of the debtor and other persons in order to prevent bankruptcy and restore the debtor's solvency, including at any stage of the bankruptcy case.

It also seems necessary to make a number of proposals to improve the financial performance of the enterprise, which can be applied both in the short and medium term, and in the long term:

Strive to increase the volume of production based on improving the quality of products (goods, works, services) and marketing products, as this allows you to optimize costs and reduce the price of products, which increases its competitiveness, conduct an effective assortment policy, improve marketing activities, etc. ;

Consider and eliminate the causes of overspending of financial resources on administrative and commercial expenses;

Develop and introduce effective system financial incentives personnel, closely linked to the main results of the economic activity of the enterprise and saving resources;

To constantly monitor the conditions of storage and transportation of raw materials and finished products;

Implement an effective pricing policy, differentiated in relation to certain categories of buyers, which will ensure the optimal combination of selling prices and sales volume and contribute to the growth of sales volume and profit.

Return on assets (economic profitability), which characterizes the efficiency of using all the property of an organization, can increase with a constant profitability of sales and an increase in sales volume, outstripping the increase in the value of assets, i.e. acceleration of asset turnover (resource return). And vice versa, with a constant resource efficiency, the return on assets can also grow due to an increase in accounting (before tax) profitability.

During the analysis of the financial position of the organization, financial risk is assessed. Ascending financial risk characterized by increased financial leverage.

Lever (leverage) - a financial mechanism for managing the formation of profits, based on ensuring the necessary ratio certain types capital or certain types of costs. Distinguish:

Financial leverage is a mechanism for influencing the level of return on equity by changing the ratio of own and borrowed funds used by the enterprise. Financial leverage - a potential opportunity to influence the organization's profit by changing the volume and structure of liabilities. The effect of financial leverage characterizes the change in profit when rational use borrowed money. An increase in the share of borrowed capital allows, under certain conditions, to reduce taxable income and income tax. However, the financial risk of the organization's activities increases in this case;

Operating leverage - a mechanism for influencing the amount and level of profit by changing the ratio of fixed and variable costs. The effect of production (operational) leverage shows how many times the change in profit outpaces the growth rate of sales volume. The increase in profits is due to the effect of scale in production. At the same time, the higher the share of fixed costs in the total cost, the greater the effect of production leverage.

The effect of financial leverage is positive when the economic profitability ratio is higher than the interest rate on the debt, and negative when the economic profitability ratio is lower than the interest rate on the loan. Debt can increase a firm's return on equity (positive leverage effect), but it can also amplify the decline in economic profitability (negative effect).

If an enterprise has high values of the effect of operating and financial leverage, then any small increase in annual turnover will significantly affect the value of return on equity.

The growth of return on equity is due to three main components:

The tax corrector (equal to one minus the income tax rate), which shows the degree of manifestation of the effect of financial leverage at various levels of income taxation. The tax corrector has the greater impact, the more the costs of using borrowed funds are included in the costs that generate taxable income. In other cases, the tax corrector does not depend on the activities of the organization, since the income tax rate is established by law. The tax corrector can be used to manage the return on equity if differentiated income tax rates are established for different types of organizations or in other similar cases;

Financial leverage differential characterizing the difference between economic profitability and the average size of the interest rate of payments for the use of borrowed sources of financing. It is the main condition that forms the growth of return on equity. To do this, it is necessary that economic profitability exceed the interest rate of payments for the use of borrowed sources of financing. If we compare the size of the refinancing rate set by the Central Bank of the Russian Federation, it becomes clear that without the adoption of special government measures to provide loans to support the investment activity of organizations, it is not advisable to use borrowed sources;

Financial leverage reflecting the amount received from borrowed sources of financing per unit of equity. Financial leverage changes the effect of the corresponding differential, increasing or decreasing the return on equity.

The concept of profit quality is also used in assessing the reliability of profit. In the balance sheet, profit is present explicitly as “retained earnings of the reporting year” and “retained earnings of previous years”, as well as veiledly - in the form of funds and reserves created from profits.

The quality of profit is influenced by various factors:

Change in costs;

Interest rate on loans (the lower it is, the higher the quality of profit);

The state of settlements with creditors, which is characterized by the ratio of overdue accounts payable to the total amount of this debt (the smaller this ratio, the higher the quality of profit);

The level of profitability of sales (the ratio of net profit to the volume of sales) - an increase in profitability of sales indicates a high quality of profit;

Profit adequacy ratio - if the organization has a profitability higher than the industry, then the quality of profit is high;

The structure of profitability by types of products - an increase in the share of highly profitable products indicates a high quality of profit.

The quality of profit is a generalized characteristic of the structure of the sources of formation of the organization's profit. High quality operating profit is characterized by an increase in the volume of output, a decrease in operating costs, and poor quality - an increase in the volume of prices for products without increasing the volume of its output and sales in physical terms.

The quality of the product, its operational safety and reliability, design, the level of after-sales service are the main criteria for the modern buyer when making a purchase and, therefore, determine the success or failure of the company in the market.

The modern market economy imposes fundamentally new requirements on the quality of products. This is due to the fact that now the survival of any company, its stable position in the market of goods and services are determined by the level of competitiveness.

The latest approach to entrepreneurial strategy lies in the understanding that quality is the most effective tool meeting the requirements of consumers and at the same time reducing production costs.

In 2006, work on the quality management system (QMS) at the analyzed enterprise was carried out in two directions:

Maintaining the current QMS in accordance with the requirements of the international standard ISO 9001:2000.

Improvement of the QMS in accordance with the requirements of ISO / TU 16949:2002 "Special requirements for the application of ISO 9001:2000 in the automotive industry and organizations supplying relevant spare parts" - according to the requirements of automobile plants.

QMS compliance international standard ISO 9001:2000 was confirmed during the recertification audit conducted from 10 to 14 April 2006 by the auditors "Intercertifica TUV together with TUV Thüringen".

As a result of the audit, a new certificate of conformity to the QMS was obtained with a validity period of up to 16.05.2009.

To meet the requirements of consumers, continue work on the "Program for improving the QMS according to ISO / TU 16949:2002", which is an integral part of the "Program of strategic development of OAO Neftekamskshina until 2010".

Works to improve the QMS in 2007 are determined by the "Program of work to improve the QMS for 2007" with access to a preliminary certification audit in December 2007.

In 2007, work on the quality management system (QMS) was carried out in two directions:

Maintaining the current QMS in accordance with the requirements of the international standard ISO 90012000;

Improvement of the QMS in accordance with the requirements of ISO/TU 16949:2002 “Quality management systems. Special requirements for the application of the ISO 9001 2000 standard for organizations - manufacturers of serial and spare parts for the automotive industry "- according to the requirements of automobile plants.

Compliance of the QMS with the international standard ISO 9001:2000 was confirmed by the auditors "Intercertifica TUV together with TUV Thüringen" and the certification body URS UK, which resulted in the issuance of a certificate according to ISO 9001:2000 No. 28292/А/0001/UK/Ru valid until December 11 2010.

The efficiency and effectiveness of the QMS was confirmed by the analysis of the performance of indicators for 2007:

The quality objectives for 2007 have been met;

The satisfaction of consumers according to the comprehensive assessment was 99 points out of 100 possible, which corresponds to the assessment "CONSUMER IS AMAZING".

To meet the requirements of consumers, work continued on the "Program for improving the QMS according to ISO / TU 16949:2002". A preliminary audit was carried out in accordance with ISO/TU 16949:2002, based on which conclusions were made about the Company's readiness for certification.

In this regard, cost-benefit management is built on the basis of the correct combination of marketing policy, pricing policy, settlement policy with buyers, material write-off policy, depreciation policy, incentive and liability policy, dividend and investment policy.

It is known that economic growth and investment activity are closely related processes, so investment activity should be in the focus of attention of the industry, region, country and enterprise.

JSC Neftekamskshina also pays great attention to improving the processes of monitoring the investment program. It is necessary to continue this work in the future. In particular, the implementation of a project management information system based on software product MS project. Development is carried out on the basis of the project Program for the Development of Tire Production (Mass Tire Plant) for 2008-2010. In the future, it is possible to extend the system to all projects of the investment program.

The investment activity of OAO Neftekamskshina is aimed at improving the existing production and developing new production of competitive tires in order to meet the needs of car assembly plants existing in the Russian Federation and the Republic of Tatarstan and the secondary tire market.

The company's own sources of investment are mainly used to improve existing production. The implementation of major investment projects related to the organization of new production facilities based on modern foreign technologies, with the purchase of equipment from leading foreign manufacturers, is carried out with the support, direct participation and attraction of funds from OAO TATNEFT.

The main direction of investment at the moment is the Tire Production Development Program (Mass Tire Plant) for 2008-2010 (hereinafter referred to as the Program).

The implementation of the Program began in 2005. The Program provides for the purchase of new basic technological equipment in order to replicate the f. "Pirelli" and increasing the production of high-performance radial tires such as "Kama-Euro".

The purpose of the Program is to develop tire production, increase output, improve the quality and performance of passenger radial and light truck tires.

The investment program of OAO Neftekamskshina includes a set of investment objects related to the consistent and comprehensive development of the enterprise in accordance with the chosen strategy. The formation and implementation of the investment program is carried out in accordance with the "Regulations on the procedure for the formation of investment programs of enterprises of the petrochemical complex of OAO TATNEFT and control over their implementation."

Management of investment activities at OAO Neftekamskshina is carried out in the conditions of increasing requirements for the success and efficiency of investment projects, improving the procedure for organizing expertise. The Investment Committee is the managing and coordinating center management company OOO Tatneft-Neftekhim.

For each investment project, an individual procedure of technical, technological, financial and economic justification is carried out with an expert opinion of the specialists of the management company on the investment attractiveness (feasibility) and profitability of the project. For investment projects worth more than 1 billion rubles, as well as for projects involving sources attracted from OAO TATNEFT, an additional examination of the Investment Department of OAO TATNEFT is carried out.

In addition to the implementation of the Tire Production Development Program (mass tire plant) for 2008-2010, investment program OJSC Neftekamskshina provides for measures to reconstruct the existing production facilities of mass and truck tires plants, targeted replacement of equipment, investments in the development of information and energy-saving technologies, in labor protection and environmental protection facilities.

In the field of information technology in 2007, the bulk of investments were directed to the continuation of work on the creation of information and telecommunications infrastructure joint-stock company and data transmission network for the pilot project "Barcoding".

In addition, in 2007 OAO Neftekamskshina completed the implementation (investment phase) of the investment project “Organization of Preparatory Production at the Mass Tire Plant”.

The goal of the project "Organization of preparatory production at the Mass Tire Plant" is the production of high-quality semi-finished products (rubber compounds), which should ensure the quality of high-performance passenger car tires "Kama-Euro", produced according to the technology of a European company, at the level of imported analogues.

Work on the project began in 2005, financing was carried out with the involvement of investments from OAO TATNEFT, the total investment amounted to 1,400 million rubles, including VAT.

As part of the project, a new production building was built, equipped with the most modern rubber mixing equipment. In 2007, a new preparatory production was put into operation and leased to OAO Neftekamskshina.

Productive capacity The new preparatory production fully covers the needs of the Production of passenger radial tires (PLRSh) and also allows the use of excess rubber compounds for the production of tires of the current assortment of the mass tire plant.

In addition, OAO Neftekamskshina continued to implement the investment project “Reconstruction of preparatory production at the ZMSh of OAO Neftekamskshina”.

The goal of the project is the production of high-quality semi-finished products, which should ensure the quality of high-performance passenger car tires "KAMA-EURO", produced according to the technology of a European company, at the level of imported analogues.

From a comparison of various indicators that characterize the work of the organization, it is possible to determine what is causing the decrease in the efficiency of the enterprise. These losses may be caused by sanctions for violation of the terms of the contract, limited demand for products, penalties, big expenses on the sales system for products (services) and other factors.

Thus, in the work of an enterprise in a market economy, fierce competition, etc., there are many positive aspects, but there are also factors that negatively affect the final financial result. Therefore, by continuing to improve the management of the company, the company can achieve higher final results of its activities.

Conclusion

The activity of any economic entity is determined by the final financial indicator. The financial result of the organization's activity is profit, which provides for the needs of the enterprise itself and the state as a whole, or a loss.

The analysis of the financial performance of the enterprise is based on the analysis of profit, as it characterizes the absolute efficiency of its work. In the course of profit analysis, factors that cause a decrease in financial results, that is, a decrease in profit, are identified. The growth of profit determines the growth of the potential of the enterprise, increases the degree of its business activity.

Profit is the most important indicator of the activities of commercial organizations. On the one hand, it reflects the final financial result, on the other hand, it is the main source of the company's financial resources, which forms its own capital. In a market economy, its value determines the direction of investment. Entrepreneur invests primarily in profitable types economic activity, where you can achieve the greatest increase in value, tk. it is a source of further development of his business.

The system of indicators of financial results includes not only absolute (profit / loss), but also relative indicators (profitability) of efficiency of use. The higher the level of profitability, the higher the efficiency of management.

The object of the study is the activity of the enterprise OJSC "Neftekamskshina", which operates in modern economic conditions. OJSC Neftekamskshina is the largest Company among Russian tire factories in terms of production capacity, volume and range of products.

After analyzing the financial results of the enterprise, the following results were obtained.

Horizontal analysis of absolute indicators shows that in 2008 the company did not achieve high financial results in economic activity compared to the actual data of the previous year. The decrease in profit before tax compared to 2007 amounted to 256,563 thousand rubles. or 147.21%.

The results of the factorial analysis of profit from sales for the settlement enterprise as a whole show that the growth in profit is mainly due to an increase in average selling prices. Bad influence profit growth was caused by an increase in the cost of production, a decrease in the share of profitable types of products, as well as a decrease in the volume of sales of products.

Indicators of profitability of products and profitability of turnover, return on assets, calculated for the whole enterprise, are not high enough, in addition, there was a decrease in the level of most indicators. You can see very high rates of return on equity. Production profitability of OAO Neftekamskshina decreased by 3.3% compared to 2007

It also seems to us necessary to make a number of proposals to improve the financial performance of the enterprise, which can be applied both in the short and medium term, and in the long term:

Strive to increase the volume of production and marketing of products, as this allows you to optimize costs and reduce the price of products, which increases its competitiveness.

Carry out timely markdown of products that have lost their original quality;

Carry out systematic monitoring of the operation of equipment and make its timely adjustment in order to prevent a decrease in quality and the release of defective products;

When commissioning new equipment, pay enough attention to education and training of personnel, improving their skills, to effective use equipment and prevent its breakdown due to low qualification;

To improve the skills of employees, accompanied by an increase in labor productivity;

Use systems for de-bonding employees in case of violation of either labor or technological discipline;

Develop and implement measures aimed at improving the moral climate in the team, which will ultimately affect the increase in labor productivity;

To exercise constant control over the conditions of storage and transportation of raw materials and finished products.

Thus, the implementation of the considered set of measures, the organization of a financial management service at the enterprise, as well as a systematic approach to managing financial results, will improve the efficiency of the enterprise, strengthen its position in the market.

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