Note. The text of the task is taken from the forum.
Determine the norms of working capital by elements and the general norm based on the following data:
| Name of indicator | Indicator value |
| Production program, details | 500 |
| Cost of one part, UAH | 107 145 |
| Duration production cycle(costs increase evenly), days | 38 |
| The amount of costs for basic materials as part of the cost of the part, UAH. | 71 430 |
| Standard stock of basic materials, days | 19 |
| Consumption of auxiliary materials for the annual output, UAH | 4 285 800 |
| Auxiliary materials stock rate, days | 36 |
| Fuel consumption, UAH | 2 285 760 |
| Fuel supply rate, days | 27 |
| Other production stocks, UAH | 642 870 |
| Finished goods stock rate, days | 5 |
Comment.
That's interesting, does the author of the problem know that the production program can be daily, shift, weekly, monthly, quarterly and annual, as well as for any period of time that we can think of? From which it follows that the loading of production (as well as the standard of working capital) will differ significantly! And how to solve it? I would venture to suggest that the production program was given to us in a year. (I came to this conclusion by comparing the reserve standards that are given for the year, and the annual program turned out to be close in meaning)
There is also one more nuance - is the standard given in working days or in calendar days? Accordingly, the solution will be different. For simplicity, we choose calendar days and consider that the company works in one shift. We have 365 days in a year.
It is completely incomprehensible what is hidden behind the words "the cost of one part." Is this a direct cost? Full cost? Production cost? For the purposes of the solution, let's assume that the average actual production cost accounted for on account 26 "Finished products" is meant.
Another remark. It will still not be possible to determine the general standard of working capital from the data of the task, since there is no data on the safety stock, the standard of loading and unloading operations, etc. But for the sacred purpose of "solving the problem" we will ignore all this... I wonder how many businesses will lose their money being run by "specialists" who are trained on such problems?
Solution.
Let's define the daily (daily) production program.
500 / 365 = 1.36986 parts per day
Then:
Standard stock of basic materials
19 * 1.36986 * 71,430 = UAH 1,859,132.90
Auxiliary material stock standard
4 285 800 / 365 * 36 = 422 709.04 hryvnia
Fuel reserve standard
2 285 760 / 365 * 27 = UAH 169 083.62
Finished goods inventory standard
5 * 107,145 * 1.36986 = UAH 733,868.25
Work Inventory Ratio
(107 145 - 71 430) * 1,36986 * 38 / 2 = 929 566,45
Summing up the obtained values, we determine a certain "general standard" that is required to solve the problem. Please take into account that the actual working capital ratio will differ from the value obtained.
1,859,132.90 + 422,709.04 + 169,083.62 + 733,868.25 + 929,566.45 = UAH 4,114,360.26
Answer: UAH 4,114,360.26
Task 2. Calculate the working capital ratio
During the year, 1000 products will be manufactured, the cost of one product is 183 UAH. The duration of the manufacturing cycle is 9 days, at the beginning of the cycle 405 UAH is spent. Determine the standard of working capital in work in progress.
Solution.
Knz - the coefficient of increase in costs in work in progress.
Knz \u003d (Snach + 0.5 * C) / (Snach + C)
Working capital ratio in inventories - 2200 thousand rubles,
normative expenses for future periods - 500 thousand rubles,
product release plan 6000 pcs.,
duration of the production cycle - 30 days;
the production cost of one product is 36 thousand rubles;
cost increase factor - 0.85;
the norm of the stock of finished products in the warehouse is 26 days.
Define:
1. standard of working capital in work in progress;
2. the standard of working capital in finished products;
3. general standard of working capital of the enterprise.
Solution:
1. The standard of working capital in work in progress is determined by the formula:
B - the volume of output in physical terms;
C - the cost of one product;
T pc - the duration of the production cycle;
K n - coefficient of increase in production;
D - the duration of the planning period.
2. The standard of working capital in finished products:
N gp \u003d R × D nz,
P - one-day output at production cost,
D nz - the rate of stock of finished products in days.
Let's find the one-day output of products at the production cost:
N gp \u003d 600 * 26 \u003d 15,600 thousand rubles.
3. The general standard of working capital of an enterprise is the sum of:
Nose. \u003d N pr.z + N np + N gp + N r.b.p.
N pr.z - the standard of inventories,
N np - the standard of work in progress,
N gp - standard stocks of finished products,
N r.b.p. - normative expenses of future periods.
Nose. \u003d 2200 + 15,300 + 15,600 + 500 \u003d 33,600 thousand rubles.
Today, many companies are faced with the problem of a shortage of funds caused by an unjustified increase in stocks of raw materials and finished products, as well as an intensive growth in receivables. To avoid such problems, it is necessary to properly normalize working capital.
As is known, working capital are the funds used by the company to carry out its ongoing activities. Rationing of working capital is the process of establishing norms (relative values corresponding to the minimum, economically justified stock of material assets and established in days) and standards (the minimum required amount of funds to ensure economic activity enterprises) according to the normalized group of working capital. In this case, it is necessary to take into account the dependence of the norms on the following factors:
- the duration of the production cycle of manufacturing products;
- consistency and clarity of work of procurement, processing and producing shops;
- supply conditions (duration of delivery intervals, sizes of supplied lots);
- remoteness of suppliers from consumers;
- speed of transportation, type and uninterrupted operation of transport;
- the time of preparation of materials for their launch in production;
- the frequency of launching materials into production;
- conditions for the sale of products;
- systems and forms of settlements, speed of document circulation, the possibility of using factoring.
The norms developed by the company for each element of working capital are valid for several years. However, in case of significant changes in the technology and organization of production, the range and volume of products, the addresses of cooperative enterprises, demand prices and credit policy, they are specified taking into account the relevant reagents.
Note! The norms of working capital characterize the minimum stocks of inventory items, calculated in days of stock or as a percentage of a certain base (commodity products, the volume of fixed assets). As a rule, they are set for a quarter or a year, but they can be valid for a longer period.
When normalizing working capital, several methods are used:
direct account;
analytical;
experimental laboratory;
reporting and statistical;
coefficient.
Direct Count Method based on the actual need for working capital. It is used when it is possible to determine the duration of the business processes that are part of the company's operating cycle. It provides for a reasonable calculation of reserves for each element of working capital, taking into account all changes in the level of organizational and technical development of the company, transportation of inventory items, and settlement practices between enterprises.
Analytical method estimates of the standard of working capital is established by the actual value of working capital for a certain period, taking into account the adjustment for surpluses and unnecessary stocks, as well as changes in the conditions of production and supply. It is used in those companies where funds invested in material values and costs occupy a large share in the total amount of working capital.
Experimental laboratory method is based on measurements of the consumption of working capital and the volume of products (works) produced in laboratory and pilot production conditions. Consumption rates are set by selecting the most reliable results and calculating the average value using the methods of mathematical statistics. The most appropriate areas of application of these standards are auxiliary and chemical production, technological processes, extractive industries and construction.
Reporting and statistical method proceeds from the analysis of data from statistical (accounting or operational) reporting on the actual consumption of materials per unit of output (work) for the past (base) period. Recommended for the development of both individual and group
norms of consumption of material and raw materials and fuel and energy resources.
With the coefficient method the norm of working capital for the planning period is established using the norm of the previous period and taking into account adjustments for changes in the volume of production and acceleration of the turnover of working capital. It provides for their division into two groups:
dependent on changes in the volume of production (raw materials, materials, costs of work in progress, finished products in stock);
not dependent on the volume of production (spare parts, low-value and wearing items, deferred expenses).
It should be noted that the following elements of working capital are normalized:
productive reserves;
unfinished production;
Future expenses;
finished products in the warehouse of the enterprise;
cash on hand in storage.
Let us consider in more detail the normalization of each of the elements.
STOCKS IN INDUSTRIAL INVENTORIES
Productive reserves- these are the material resources located at the enterprise, but not entered into the production process. The composition of working capital in inventories:
- raw materials;
- basic materials and purchased semi-finished products;
- auxiliary materials;
- fuel;
- container;
- spare parts;
- low-value and high-wear items (MBP). As part of the IBE, labor instruments with a service life of up to one year are taken into account, including:
o low-value and quick-wearing tools and fixtures;
o low-value household inventory;
o special clothes and shoes;
o special tools and fixtures;
o replacement equipment;
o industrial packaging.
Depending on the purpose of the stock and the need for preparation material resources for use in production, there are current, insurance (or warranty), technological (or preparatory) and transport stocks.
current stock is necessary to ensure the uninterrupted course of production at the enterprise in the period between successive deliveries. The norm of the current stock is taken, as a rule, equal to half of the average interval between two successive deliveries. The maximum value of the current stock (Z current) is determined by the formula:
W current \u003d P cf. day × T, (1)
where P cf. day - the average daily need for this material, natural units of measurement;
T— time between two successive deliveries, days.
Safety stock provided to prevent the consequences associated with supply failures. The safety stock rate is set either within 30-50% of the current rate, or equal to the maximum time for deviations from the supply interval. Insurance, or guarantee, stock (3 lines) is calculated by the formula:
W str = N h. pp × P, (2)
where N h. str - the norm of the safety stock of materials, days;
P - the average daily demand for this type of materials, rub.
Preparatory (technological) stock(Z those) is created in those cases when raw materials and materials entering the enterprise require appropriate additional preparation: drying, sorting, cutting, picking, etc. The norm of the preparatory stock is determined taking into account specific conditions production and includes the time for receiving, unloading, paperwork and preparation for the further use of raw materials, materials and components. The amount of such stock is determined as follows:
Z those \u003d P cf. day × T c, (3)
where T c is the duration of the technological cycle, days.
Transport stock(3 tr) is formed in case of discrepancies in the timing of the movement of document circulation and payment for them and the time the materials are in transit. Its value is calculated by direct and analytical methods.
The direct counting method is used with a small range of consumable material resources coming from a limited number of suppliers. If the supplier is located far away, payment documents for raw materials arrive and are paid by the company before the cargo arrives. Therefore, the size of the transport stock is equal to the time interval between the payment of the invoice and the receipt of raw materials by the company.
With a large number of suppliers and a significant range of consumed resources, the norm of the transport stock is determined by the analytical method. For this, from the data accounting for the last year, the balances of inventory items are taken in transit at the beginning of each quarter, minus the cost of resources delayed in transit beyond the established deadlines.
General norm stocks (W total) for raw materials, basic materials, purchased semi-finished products is calculated by the formula:
Z total \u003d Z tech + Z str + Z those + Z tr. (four)
Working capital ratio in inventories ( N pz) is calculated by the formula:
N pz \u003d W total × R, (5)
where P is the average daily consumption of working capital, rub.
Example 1
JSC "XXX" works with 40 suppliers with a total delivery cycle of 2000 days. The safety stock rate (Z str) is set at 35% of the current stock rate (Z current). The average daily requirement (P average day) for material (for example, high-grade steel St3) is 50 kg, the price for 1 kg is 48.6 rubles. The duration of the technological cycle is 10 days. Let us determine the standard of working capital in industrial stocks, in this case, in high-grade steel ( N pz).
1. Find the one-day consumption of steel in value terms: Р = 50 × 48.6 = 2430 rubles.
2. The current stock rate (Z current) is equal to: 2000 / 40 / 2 = 25 days.
3. Safety stock rate (3 lines): 25 × 0.35 = 9 days.
4. Norm of a technological stock (Z those): 10 days.
5. General inventory rate (3 total): 25 + 9 + 10 = 44 days.
6. Working capital ratio in inventories ( N pz): 44 × 2430 = 106,920 rubles.
RATE-RATED IN PRODUCTION IN PROGRESS
Unfinished production- products at various stages of processing - from the launch of raw materials, materials and components into production to acceptance by the department technical control finished products. It is determined by the amount of advanced funds invested in the cost of raw materials, basic and auxiliary materials, fuel, electricity, depreciation and other expenses. All these costs for each product increase as you move along the chain. technological process.
NOTE
The amount of working capital employed in work in progress depends on the duration of the production cycle, the cost of manufactured products and the intensity of the increase in costs in the production process.
The rate of working capital employed in work in progress ( N npz), is calculated as follows:
N npz \u003d C av × T c × K n, (6)
where C cf is the average daily output at cost, rubles;
T c is the duration of the production cycle for the manufacture of this product, days;
K n - the coefficient of increase in costs, which characterizes the level of readiness of products as part of work in progress. The need to calculate it is due to the fact that the costs in work in progress are carried out at different times. If they grow evenly, then the cost increase coefficient is found by the formula:
K n \u003d (MZ + 0.5 × R pr) / C plan, (7)
where MZ - planned material costs, rub.;
Р pr - other expenses by cost elements, rub.;
C plan - the planned cost of a unit of production, rub.
With an uneven increase in costs, the coefficient formula changes as follows:
K n \u003d C cf / C prod, (8)
where C cf - the average cost of a product in work in progress;
With prod - the production cost of the product.
Example 2
At the enterprise JSC "XXX" in the work in progress there was a product BUT, the manufacture of which requires basic materials, purchased components that make up material costs, the wages of production workers, as well as other expenses that include overheads, etc. Data for calculating the rate of working capital in work in progress (in the product BUT) are presented in Table. one.
Table 1. Calculation of the norms of working capital employed in work in progress
|
Name |
Designation |
Amount, rub. |
|
Data for calculation |
||
|
Material costs according to the plan |
||
|
Wage production workers |
||
|
Social security contributions |
||
|
other expenses |
||
|
Planned cost |
||
|
Production cost |
||
|
Price of a product in work in progress |
||
|
Average daily output at cost |
||
|
The duration of the production cycle for the manufacture of this product |
||
|
Settlement part |
||
|
Cost escalation factor (with a uniform increase in costs) |
||
|
Coefficient of increase in costs (with uneven increase in costs) |
||
|
The rate of working capital in work in progress: |
||
|
with a uniform increase in costs |
N npz0 |
|
|
with an uneven increase in costs |
N refinery1 |
|
According to Table. 1 with a uniform increase in costs K n0 = (896,876 + 0.5 × 847,889) / 2,074,090 = 0.64; with uneven - K n1 \u003d 1 440 341 / 1 920 454 \u003d 0.75.
The norms of working capital in the product BUT with a uniform and uneven increase in costs amounted, respectively, N npz0 \u003d 464,551 × 4 × 0.64 \u003d 1,118,250 rubles. and N npz1 \u003d 464,551 × 4 × 0.75 \u003d 1,393,653 rubles.
STANDARDIZATION OF FINISHED PRODUCTS
The next element of normalization of working capital is working capital ratio for finished products- products accepted by the technical control department and handed over to the warehouse of finished products, for which the production cycle has ended. The working capital rate for finished products is determined by the time from the moment the products are accepted to the warehouse until the customer pays for them and depends on a number of factors:
the order of shipment and the time required for the acceptance of finished products from the shops;
the time required for the acquisition and selection of products up to the size of the shipped batch and in the assortment according to orders, orders, contracts;
the time required for packaging, labeling products;
the time required for the delivery of packaged products from the warehouse of the enterprise to the railway station, pier, etc.;
the time of loading products into vehicles;
storage time for products.
Working capital ratio in stocks of finished products ( N gp) in the warehouse is determined by the formula:
N gp = per day × N zgp, (9)
where In days - the average daily output of each product at the production cost, rub.;
N Zgp - the norm of the stock of finished products, days. It includes the time required for the acceptance of products from the workshops, the assembly of the transport batch, the packaging and shipment of products, and the preparation of documentation.
Example 3
Using formula (9), we determine the standard of working capital in stocks of finished products (Table 2).
Table 2. Calculation of the standard of working capital in stocks of finished products at the enterprise JSC "XXX"
RATE OF EXPENSES FOR FUTURE PERIODS
The economic content of deferred expenses consists in the need to finance some of the costs that are made in the present, and will be written off to the cost price in the future.
Deferred expenses include the following costs: for the development of new types of products and new technological processes; by subscription to periodicals; for rent; for communication; on taxes and fees paid for the future. Working capital ratio for future expenses ( N rbp) is determined by the formulas:
N rbp \u003d R bud. pl - P pl + P s, (10)
where R bud. pl - the amount of funds in deferred expenses at the beginning of the planning period, rubles;
Р pl - expenses incurred in the planning period, rub.;
R c - expenses written off to the cost of production in the planned period, rub.;
N rbp \u003d P 0 + R pl - R cn, (11)
where P 0 - expenses at the beginning of the period, rubles;
Р pl - expenses according to the plan for the year, rub.;
Р cn - expenses to be written off in the planned year, rub.
Example 4
Let's calculate the working capital ratio for deferred expenses (the results are in Table 3).
Table 3. Calculation of the working capital ratio for deferred expenses
GENERAL RATE OF WORKING ASSETS
Completing the rationing process, they establish a total standard of working capital by adding private standards for inventories, work in progress, deferred expenses and finished products.
The average rate of working capital for the enterprise as a whole is calculated by dividing the total rate by the one-day output of marketable products at production cost.
Working capital ratios are calculated in kind (pieces, tons, meters, etc.) and monetary terms (rubles) and in days of stock. The general norm of working capital of an enterprise is calculated only in monetary terms and is determined by summing up the norms of working capital for individual elements:
N total = N pz + N WIP + N rbp + N mr. (12)
Example 5
According to Table. 4, the general standard of working capital for the enterprise JSC "XXX" will be 60,203 thousand rubles.
Table 4. Calculation of the general standard of working capital for the enterprise JSC "XXX"
|
Working capital ratio by elements (items), thousand rubles |
general standard, N common |
|||
|
Productive reserves, N pz |
Unfinished production, N WIP |
Finished products, N G |
Future expenses, N rb |
|
Thus, properly carried out rationing of working capital allows you to economically use financial resources, contributes to the successful implementation of economic activities and strengthening financial condition companies.
M. V. Altukhova,
Economist at OJSC Rudoavtomatika
Rationing of working capital consists in the development of norms for the types of inventory and costs, as well as measures that contribute to improving the efficiency of the use of working capital.
The value of normalization of working capital:
Ensures the continuity and uninterrupted operation of the production process and sales of products;
Allows efficient use of working capital at each enterprise;
Contributes to the strengthening of the economy, the identification and use of on-farm reserves;
Provides optimal need for working capital;
Provides inventory management.
Normalization of working capital is understood as the process of determining the minimum, but sufficient (for the normal course of the production process) amount of working capital in the enterprise.
When normalizing working capital, it is necessary to take into account the dependence on the following factors:
The duration of the production cycle of manufacturing products;
Consistency and clarity in the work of procurement, processing and producing shops;
terms of supply;
Remoteness of suppliers from consumers;
Speed of transportation, type and uninterrupted operation of transport;
Time of preparation of materials for the launch of their production;
Terms of sale of products;
Systems and forms of settlements, speed of workflow, possibilities and forecasting of factoring.
The following elements of working capital are normalized:
Productive reserves;
Unfinished production;
Future expenses;
Finished products in the warehouse of the enterprise;
Cash in hand and in storage.
In the process of normalization of working capital, norms and standards are developed.
Working capital ratio- this is relative value, corresponding to the minimum, economically justified stock of inventory items. It is set in days.
Working capital ratio- This is the minimum amount of money required to ensure the economic activity of the enterprise.
If the norms of working capital can be set for a relatively long period, then the norms are calculated for a specific period of a year (quarter, month, decade).
Rationing of working capital includes:
Determination of working capital stock norms in days;
Determination of standards for all working capital in monetary terms, including for each element.
General working capital ratio or the total need for working capital of the enterprise(Ntotal) is defined as the sum of private standards calculated for individual elements of working capital according to the formula:
Ntotal \u003d Npz + Nnp + Nbr + Ngp + Nds,
where Npz - the standard of industrial stocks; Nnp - the standard of work in progress; Nbr - normative expenses of future periods; Ngp - the standard of finished products; VAT - the standard of cash at the cash desk and in storage.
The standard of industrial stocks consists of current, insurance, transport and technological stock.
current stock(TK) is designed to provide the production process with material resources between two deliveries. Its value is usually determined within half of the average interval between deliveries. The maximum value of the current stock in physical units (tons) is calculated on the basis of the stock rate in days (T n) and the average daily consumption of materials (P day) in tons. In this case, the maximum value of the current stock is determined by the formula:
TZ \u003d T n x R day
Safety stock(SZ) can be calculated in two ways: by the average deviation of actual delivery times from planned ones or by the time required for urgent clearance ordering and delivery of material resources from the supplier to the consumer. With an aggregated estimate, it can be taken in the amount of 50% of the average daily consumption of the material (Rd) multiplied by the gap in the supply interval (I pp), i.e. the difference between the actual delivery time (If) and planned (Ipl) and is determined by the formula:
SZ \u003d Rsut (If - Ipl) * 0.5
The need to have a safety stock is explained by the constant violation of the terms of supply of material resources by the supplier. If this violation is related to transport organization a transport stock is created, including those working capital that are diverted from the date of payment of the supplier's invoice until the arrival of the goods at the warehouse.
Transport stock(T r Z) is created in case of exceeding the terms of cargo turnover in comparison with the terms of document circulation. Its calculation is carried out similarly to the calculation of the safety stock according to the formula:
T r Z \u003d Rsut * (If - Ipl) * 0.5
Technological reserve(T ex Z) is created when the supplied material resources do not fully meet the requirements of the technological process and must undergo appropriate processing before being put into production (for example, removal of rust from the metal surface) and is determined by the formula:
T ex W \u003d (TK + SZ + T r Z) * K those
where K those is the material manufacturability coefficient, which is set as a percentage by a commission of representatives of suppliers and consumers.
Scope of supply of material(Npz) is equal to the sum of four reserves and is determined by the formula:
Npz \u003d TZ + SZ + T r Z + T ex Z
Calculation of the supply of material in terms of value(Npz st) is determined by the formula:
Npz st \u003d C m, * Npz
where Cm is the purchase price of the material.
General norm of production stocks is determined by the formula:
Npz total =∑Зj,
where Zj - production stock for a separate type (group) of material.
Example: Determine the cost of supplying material resources, if the average daily consumption of material is 7.2 tons, the price of 1 t C m \u003d 10 thousand rubles, the planned delivery interval I pl \u003d 9 days, insurance stock SZ \u003d 3 days, transport stock T p Z \u003d 2 days, technological margin T ex Z = 3%.
Current stock: 7.2*9=64.8 tons Safety stock: 7.2*3*0.5=10.8 tons Transport stock: 7.2*2*0.5=7.2 tons Technological reserve: (64.8 + 10.8 + 7.2) * 0.03 = 2.48 tons. 48 \u003d 85.28 tons. The cost of supplying material resources: 10 * (64.8 + 10.8 + 7.2 + 2.48) \u003d 852.8 thousand rubles.
The standard in working capital for work in progress (N np) is determined by the formula:
H np \u003d V d * T p * K s
where B d - average daily output at cost, thousand rubles; T p - the duration of the production cycle; K z - the coefficient of increase in costs.
Rising costs in manufacturing process may occur uniformly or unevenly.
With a uniform increase in costs, i.e. to enterprises with a uniform output cost escalation factor is determined by the formula:
where a - initial costs (for raw materials, materials, purchased semi-finished products); c - all other costs; 0.5 is a coefficient characterizing the uniformity of the increase in subsequent costs.
Working capital ratio for deferred expenses is determined by the formula:
N bp \u003d O n + Z bpl - Z spl,
where O n - the balance of deferred expenses at the beginning of the planned year (thousand rubles); З bl - expenses of future periods in the coming year, provided for by the relevant estimates (thousand rubles); Csp - deferred expenses to be written off to the cost of production of the coming year in accordance with the production estimate (thousand rubles).
Working capital ratio in stocks of finished products(Ngp) is the product of the planned cost of the average daily output of marketable products by the time from its receipt to the warehouse to departure from the station, taking into account the time for issuing transport settlement documents according to the formula:
N gp \u003d GP one * N g,
where GP one - one-day production of finished products at cost (thousand rubles); N g - the norm of the stock of finished products (days).
Example: The turnover of goods at purchase prices for the quarter is 1,900 thousand rubles, the stock rate of goods is 3 days. Determine the standard in working capital for stocks of goods thousand rubles.
GP one \u003d 1900/90 \u003d 21 thousand. rub.
N gp \u003d 21 * 3 \u003d 63 thousand rubles.
2.2.4. Efficiency in the use of working capital: indicators,
ways to improve
To analyze the use of working capital, assess the financial condition industrial enterprise and the development of organizational and technical measures to accelerate their turnover, a system of indicators is used that characterize the real process of the movement of working capital and the amount of their release (Fig. 2.2).
Rational and effective use working capital helps to increase the financial stability of the enterprise and its solvency. Under these conditions, the enterprise timely and fully fulfills its settlement and payment obligations, which allows it to successfully carry out business activities.
Key performance indicators for the use of working capital
turnover ratio ratio ratio
(turnaround time) load turnover working efficiency
(rate of turnover) of funds or return on working capital
Rice. 2.2.2. Indicators of the use of working capital
Example: The volume of products sold at the cost of production for reporting year amounted to 60,000 thousand rubles. with the amount of working capital at the end of the reporting year 5,000 thousand rubles. Profit from the sale of commercial products 1500 thousand rubles.
1. Turnover of working capital:
O o \u003d (5000 x 360) / 60000 \u003d 30 days
The duration of one rotation is 30 days.
2. Turnover ratio:
Ko \u003d 60000 / 5000 \u003d 12 revolutions
Working capital made 12 turnovers per year.
3. Working capital utilization factor:
Kz \u003d 5000 / 60000 \u003d 0.08
For 1 rub. sold products account for 0.08 rubles. working capital.
4. Working capital efficiency ratio:
Kef \u003d 1500 / 5000 \u003d 0.3
For 1 rub. working capital accounts for 0.3 rubles. arrived.
The economic result of accelerating the turnover of working capital is the release of part of these funds from circulation.
Release of working capital may be absolute and relative. Determining the amount of release of working capital is shown in fig. 2.2.3.
Release of working capital
absolute release relative release
working capital working capital
Rice. 2.2.3. Release of working capital
Example. The actual volume of marketable products at cost in current year- 2500 thousand rubles, the actual amount of all working capital at the end of the current year is 2800 thousand rubles, the volume of marketable products for the coming year is 3600 thousand rubles. with an estimated acceleration of the turnover of working capital by 4 days.
Under these conditions, the turnover of working capital in the current year will be:
O = 2800 / (2500 / 360) = 40 days
The amount of working capital, based on the volume of marketable products in the planned year and turnover in the current year, will be determined in the amount of 4,000 thousand rubles.
(36000 x 40) / 360
The amount of working capital, based on the volume of marketable products, in the coming year, taking into account the acceleration of their turnover, will be 3,600 thousand rubles.
3600 x (40 - 4) / 360
The relative release of working capital as a result of the acceleration of turnover in the coming year will be equal to 400 thousand rubles.
Accelerating the turnover of working capital and releasing them as a result of this in any form will allow the enterprise to allocate funds for the development of the enterprise without attracting additional financial resources.
When analyzing the work of an industrial enterprise, various indicators of the useful use of material resources are used:
The indicator (coefficient) of the output of finished products from a unit of raw materials;
The indicator of raw material consumption per unit of finished product;
The coefficient of use of materials (the ratio of the net mass of the product to the standard or actual consumption);
Material consumption (the ratio of the cost of raw materials, fuel, materials, energy, etc. to the volume of production);
Material efficiency (the ratio of production volume to the cost of raw materials, fuel, materials, energy, etc.);
The better raw materials, materials and other material resources are used, the lower the material intensity and the higher the material efficiency.
To reduce the material consumption of products, it is necessary:
Improve the use of objects of labor;
Reduce waste;
Do not produce defective and low-quality products;
Prevent loss of material resources;
Use cheaper substitutes for resources that do not reduce product quality.
One of the main directions of increasing the efficiency of production is to improve the use of working capital, i.e. an increase in the volume of sold products with a constant cost of working capital or a decrease in the amount of working capital with a constant volume of sold products.
Improvement in the use of working capital can be achieved through:
economical and rational use material resources;
Optimization of the size of inventories and backlogs of work in progress;
Accelerating the turnover of working capital.
AT modern conditions one of the most important tasks of the enterprise is acceleration of working capital turnover .
At the stage of production stocks - this is the use of economically justified stock standards, the approximation of suppliers of raw materials, materials, semi-finished products, components to consumers; use of direct links; extension wholesale trade materials and equipment, complex mechanization, automation of loading and unloading operations in warehouses.
At the stage of work in progress - this is the acceleration of the development of the achievements of scientific and technological progress, the development of standardization, unification, typification; improvement of forms of organization industrial production, the use of more economic structural materials; improving the system of economic incentives for the economical use of raw materials and fuel and energy resources.
At the stage of circulation - this is the approach of consumers to its manufacturers; improvement of the settlement system; increase in the volume of sold products made under direct orders; production of products from the saved materials.
QUESTIONS AND TASKS FOR SELF-CONTROL OF KNOWLEDGE
1. What is meant by working capital of an enterprise?
2. What are the features of the classification of working capital.
3. What is meant by working capital and what is their composition?
4. What are circulation funds and what is their composition?
5. What factors influence the structure of working capital?
6. What are the stages that form the circulation of working capital?
7. What is the essence of the rationing of working capital?
8. What components make up the standard of working capital?
9. How is the effectiveness of the use of working capital assessed?
10. What are the measures to improve the efficiency of the use of working capital.
ADDITIONAL LITERATURE
1. Babuk I.M. Enterprise economy: Tutorial for students of the system of advanced training and training / I.M. Babuk, V.I. Demidov, L. Grintsevich, V.T. Pyko. - Minsk: BNTI, 2002. - 263 p.
2. Gruzinov V.I., Gribov V.D. Enterprise Economics: Proc. allowance.-2nd ed., extra. - M.: Finance and statistics, 2001.
3. Zaitsev N.L. Economics of the organization. - M.: "Exam", 2000.
4. Kozik P. Management of working capital of an enterprise // NEG, No. 38, 2002.p.21.
5. Leshko V. Working capital management // Economics. Finance. Control. - No. 12.-2000 - p. 30-32.
6. Directory of the financier of the enterprise. - 2nd ed., add. and reworked. – M.: INFRA-M, 2000.
7. Economics of the enterprise and industries: Uch. Benefit / Under. ed. A.S. Pelikh. 4th ed. add. and reworked. - Rostov-on-Don: Phoenix, 2001.
8. Economics of the enterprise. Workshop: Textbook / A.N. Senko, E.V. Krum. – Mn.: Vysh. school, 2002.
Working capital ratio- this is the minimum required amount of funds to ensure the economic activity of the organization, enterprise. The organization's working capital ratio is set for:
- core business,
- capital repairs carried out on their own,
- housing and communal services,
- auxiliary, auxiliary and other farms that are not on an independent balance sheet.
How to determine the working capital ratio
The working capital ratio is determined by summing up the product of one-day consumption of material assets, production output and the stock rate in days for the corresponding types of working capital.
The one-day consumption of material assets or the output of products at enterprises with a uniformly increasing volume of production throughout the year is calculated according to the cost estimate of the 4th quarter. planned year, since the volume of production costs, as a rule, is the largest in this quarter.
At enterprises with a seasonal nature of production, one-day consumption is calculated according to the cost estimate of the quarter with a minimum volume of production, since the need for working capital in excess of the minimum is covered by borrowed funds. It is determined by dividing the amount for the corresponding article of the quarterly cost estimate by 90 days.
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