In a market economy, relations between the participants in social production are changing radically. The interdependence of economic organizations requires, on the one hand, more detailed information about the state of financial and economic activity, and on the other hand, it should be taken into account that competition requires the observance of trade secrets and, consequently, the restriction of information about activities to the necessary minimum.

Reliable and objective information about the financial position of enterprises is necessary for investors who want to profitably invest their capital; shareholders receiving dividends from income; creditors and banks interested in timely repayment of loans, return of loans. Information about the current financial situation and for the future is also necessary for the management of the enterprise (firm) to develop a strategy for the development of entrepreneurial activity.

World economic science has accumulated rich experience in analyzing the financial and economic activities of enterprises. In our country, under the conditions of the command-administrative management system, it was replaced by an analysis of the implementation of plans, which for the most part did not provide for the study of objective economic relationships between numerous indicators.

Entrepreneurial activity in the conditions of market relations requires a different approach and organization of both internal and external analysis of financial and economic activities. Conclusions based on the results of the analysis should provide reasoned decision-making and development of an entrepreneurial strategy.

In connection with the current situation in the country, the importance of analyzing the economic activity of an enterprise is sharply increasing. The results of the analysis are of interest to various categories of analysts.

1. The most important blocks of complex economic analysis

The purpose of assessing economic activity is to analyze the production and financial activities of enterprises, both as a whole and its individual parts, to identify reserves in the activities of the enterprise and proposals for their rational use.

Economic analysis includes the following blocks:

Analysis of production and sales volumes;

Analysis of the use of fixed assets;

Analysis of the provision of the enterprise with material and labor resources;

Analysis of production costs;

Analysis of the financial condition of the enterprise.

An analysis of the production and economic activities of enterprises begins with the study of output indicators. The purpose of the analysis is to identify the causes and factors that positively and negatively affect the volume of output, to find reserves for increasing the volume of production, to determine the most effective ways to increase the volume of output and improve its quality.

The objectives of the analysis of the use of fixed assets are: the study of the composition and movement of fixed assets; revealing the impact of the use of labor means on the volume of production; determination of the efficiency of the use of fixed assets; identification of reserves for increasing the efficiency of the use of fixed assets.

The objectives of the analysis of security and use material resources are: an assessment of the reality of logistics plans, the degree of their implementation and the impact on the volume of production, its cost and other indicators; assessment of the level of efficiency in the use of material resources; identification of intra-production reserves for saving material resources and the development of specific measures for their use.

Analysis of the cost of production by items and cost elements is carried out by comparing the amounts by cost items for a number of years and determining the amounts of deviations in absolute and relative terms. On the basis of such data, it is possible to draw a conclusion about the current trends that have developed in the enterprise.

The subject of financial analysis are financial resources and their streams. The content and main target of the financial analysis of an enterprise is the assessment of the financial condition and the identification of opportunities to improve the efficiency of the functioning of an economic entity with the help of rational financial policy.

Detailing the procedural side of the methodology for analyzing the financial condition depends on the goals set, as well as various factors of informational, temporary, methodological, personnel and technical support. The logic of analytical work assumes its organization in the form of a two-module structure:

Express analysis of the financial condition;

Detailed analysis of the financial condition.

The purpose of express analysis is a clear and simple assessment of the financial well-being and development dynamics of an economic entity. In the process of analysis, the calculation of various indicators for assessing the financial activity of the enterprise is carried out. Express analysis should be performed in three stages: preparatory stage, preview financial statements, economic reading and reporting analysis.

The meaning of express analysis is the selection of a small number of the most significant and relatively easy-to-calculate indicators and constant monitoring of their dynamics.

The purpose of a detailed analysis of the financial condition is a more detailed description of the property and financial position economic entity, the results of its activities in the past reporting period, as well as the possibilities for the development of the entity in the future. It concretizes, supplements and expands individual express analysis procedures. In this case, the degree of detail depends on the desire of the analyst.

A comprehensive analysis of the state of an enterprise is a system of targeted economic and financial analysis aimed at identifying the parameters of an enterprise's development, carried out on the basis of a database financial accounting according to standard analysis algorithms. In conditions when the majority of Russian enterprises are in an unstable financial condition, the analysis makes it possible to accurately determine the bottlenecks and opportunities for improving the financial condition of the enterprise.

On fig. 1 presents an algorithm for conducting a comprehensive economic analysis of the state of the enterprise. Block 1 of this scheme is a traditional financial analysis.

Financial analysis is a way of accumulation, transformation and use of information of a financial nature, with the aim of: assessing the current and prospective financial condition of the enterprise; assess the possible and appropriate pace of development of the enterprise from the standpoint of their financial support.

In the traditional sense, financial analysis is a method of assessing and forecasting the financial condition of an enterprise based on its financial statements. This type of analysis can be performed by both management personnel this enterprise, as well as by any external analyst, since it is mainly based on publicly available information.

The financial condition of an enterprise is a set of indicators that reflect its ability to pay off its debt obligations. Financial activities cover the processes of formation, movement and preservation of the property of the enterprise, control over its use.

Rice. 1. Algorithm for conducting a comprehensive analysis of the financial and economic activities of the enterprise

In the second block of complex analysis, after analyzing the production, economic and financial activities of the enterprise according to fig. 5, rating and comprehensive assessments of the financial condition of the enterprise are carried out.

In the third block, a conclusion is prepared on the financial condition of the enterprise based on sustainability criteria, recommendations are developed for improving (stabilizing) its activities.

When performing a comprehensive assessment of financial and economic activities:

1) the objects, purpose and tasks of the analysis are specified, a plan of analytical work is drawn up.

2) a system of synthetic and analytical indicators is developed, with the help of which the object of analysis is characterized.

3) the necessary information is collected and prepared for analysis (its accuracy is checked, it is brought into a comparable form, etc.).

4) a comparison is made of the actual results of management with the indicators of the plan of the reporting year, the actual data of previous years, with the achievements of leading enterprises, the industry as a whole, etc.

5) factor analysis is performed: factors are identified and their influence on the result is determined.

6) unused and promising reserves for increasing production efficiency are identified.

7) there is an assessment of the results of management, taking into account the action of various factors and the identified unused reserves, measures are being developed for their use.

Such a sequence of analytical studies is the most appropriate from the point of view of the theory and practice of analyzing financial and economic activities.

2. Concepts and classification of factors and reserves for increasing production efficiency

Factors are elements, causes that affect a given indicator or a number of indicators. In this understanding, economic factors, as well as economic categories reflected by indicators, are objective. From the point of view of the influence of factors on a given phenomenon or indicator, it is necessary to distinguish between factors of the first, second, and so on orders. The difference between the concepts of an indicator and a factor is conditional, since almost every indicator can be considered as a factor of another indicator of a higher order and vice versa.

Subjective ways of influencing indicators should be distinguished from objectively determined factors, that is, possible organizational and technological solutions that can be used to influence the factors that determine this indicator.

Federal Agency for Education

"Vladimir State University"

Department of FIET

COURSE WORK

by discipline:

"Economic analysis"

"Economic analysis of the enterprise on the example of JSC" VEMZ ""

Completed:

Art. gr. ZFKp-108 Manokhin V.A.

Morgunova R.V.

Vladimir 2011

Introduction……………………………………………………………………………..3 1. Description of the organization…………………………………… …………………………5

2. Analysis of the economic activity of the enterprise…………………………..11

2.1. Scheme of the organizational structure of the enterprise……………….............. 11

2.2. Analysis of the products offered by the enterprise…………………………..13

2.3. Segmentation and analysis of the company's customers…………………….......................17

2.4. Analysis labor resources enterprises……………………………............19

3. Analysis of the financial condition of the enterprise………………..…..……………24

4. Project part………………………………………………………………………………57

Conclusion…………………………………………………………………………….59

List of used literature………………………………………………..61

INTRODUCTION

The market economy necessitates the development of financial analysis primarily at the micro level - that is, at the level of individual enterprises, since it is enterprises (with any form of ownership) that form the basis of a market economy. Analysis at the micro level is filled with very specific content related to the daily financial activities of enterprises, their teams, managers, owners-proprietors.

An analysis of financial and economic activity is a scientifically developed system of methods and techniques by which the economy of an enterprise is studied, production reserves are identified on the basis of accounting and reporting data, and ways are developed for their most effective use. Sources of analysis are standard forms of statistical and accounting reporting.

The initial materials for analysis are monthly and quarterly plans, daily and shift assignments, audit reports.

The methods of economic analysis are very diverse, but they are characterized by the following common features: assessment of the enterprise's activities from the standpoint of growth in production efficiency, determination of the influence of individual factors on the final results of activity.

The classical methods of analysis are observation, comparison, detailing, substitution, correlation, economic and mathematical methods of analysis, etc.

By the time the analysis is daily, monthly, quarterly, annual. In daily analysis, they are limited to indicators of data on work: program implementation, equipment utilization, number of employees, staff turnover, loss of working time, compliance with production standards, cost, product shipment, etc.

During monthly and annual analyzes, text documents, explanatory notes, reports, and conclusions are compiled. The conclusions and proposals indicate the ways and deadlines for eliminating existing shortcomings in the work and specific measures that ensure an increase in production efficiency.

This course work is devoted to the analysis of the financial and economic activities of the enterprise OJSC "Vladimir Electromotive Plant" based on the results of work for 2009 and 2010.

Tasks term paper: on the basis of the calculated individual indicators and coefficients characterizing the financial condition of the company, draw more detailed conclusions about the financial position of the enterprise and identify reserves for improving the efficiency of the enterprise's economic activity, prepare proposals for improving the work of JSC VEMZ.

1. DESCRIPTION OF THE ORGANIZATION

Vladimir Electric Motor Plant (VEMZ) was founded in 1957. Ten years later, the first millionth engine was produced. Engines of special modifications were mastered and put into production, including explosion-proof, mine, multi-speed, with increased starting torque, with increased slip, lift, for driving pumping units. During the period of the planned economy, VEMZ produced engines of two dimensions - 132 and 180 mm. Then everything was determined by a rigidly centralized system of supply and distribution, and the development of technical policy and attraction of investments were carried out by sectoral institutions. With the disappearance of the planned system, the plant had to solve all these and other issues on its own.

At present, JSC VEMZ is one of the leading Russian manufacturers and suppliers of asynchronous electric motors with a power range from 0.18 to 315 kW. VEMZ supplies 70% of all domestic electric motors to the Russian market. According to the main characteristics, the motors comply with international (IEC) and European ( EN) norms.

An engineering center has been created at the enterprise, which is engaged in the development of new types of electric motors and the modernization of existing series using modern computer technology. JSC VEMZ is constantly working to improve the quality and reliability of its products. This was evidenced by the received Product Certificate and Certificate of Approval of the Quality Management System for the system ISO 9001, a Declaration of conformity of products with the requirements of international standards and European directives has been drawn up with the right to label products with the sign " CE”, a license was obtained for the design and manufacture of electric motors for the nuclear power industry. The products of JSC VEMZ were awarded gold medals at the All-Russian competition "Sign quality XXI century."

The activities of the enterprise are expanding: the production of products from organosilicon rubber compounds has been launched: TKR tubes with a voltage of 660V and 1000V, long profile products (electrical insulation, seals, gaskets, bundles); products made by pressing vulcanization (compacted rings, gaskets, etc.). Deliveries of pumping equipment, gearboxes completed with electric motors manufactured by JSC VEMZ are carried out.

JSC VEMZ represented by a subsidiary "VEMZ-Spectrum", together with well-known firms - Hitachi(Japan), KEB(Germany), Control Techniques(Great Britain) is engaged in the production, supply and full range of service maintenance of a complete frequency-controlled electric drive, which allows saving up to 50% of electricity, as well as a complete replacement of DC drives with a complete asynchronous electric drive.

OJSC "NIPTIEM", which is part of the VEMZ group of companies, produces a wide range of electric motors for nuclear power plants, manufactures products according to the special technical requirements of the customer, taking into account the possibility of designing a new electric motor. JSC "Vladimir Electric Motor Plant" and JSC "NIPTIEM" are part of Russian Electrotechnical Concern (RUSELPROM).

However, so far only 10% of the plant's output is exported. According to the results of three quarters of 2010, the export of the main products manufactured by JSC "Vladimir Electromotive Plant" - three-phase asynchronous electric motors of medium power - increased by 48% compared to the same period in 2009. The share of exports of JSC VEMZ amounted to 24% of the total value of Russian exports of electric motors . The main foreign trade partners of JSC VEMZ are companies from Ukraine, Italy, Kazakhstan, Uzbekistan, and Lithuania. Export deliveries to non-CIS countries amounted to 36%. The number of employees at JSC VEMZ is unstable and amounts to more than 1,500 people.

At present, the financial position of JSC VEMZ is stable. In the conditions of a stable economic situation, it is easier for the management of the enterprise to deal with personnel issues and staff motivation.

Year of foundation of the plant: 1957.

Legal and postal address: Vladimir, st. Electrozavodskaya, 5.

Legal form: open joint-stock company, abbreviated name - OAO VEMZ.

Founders meeting

The authorized capital is 185,452 rubles. and complies with the constituent documents of the issuer;

Rusakovsky Aleksey Mikhailovich is the General Director of the VEMZ plant.

The mission of the enterprise: to expand the sales market and the range of products, to obtain additional profit.

The main task of the personnel management service at the enterprise is the creation of a personnel management system focused on the performance of basic functions. They include:

HR planning, carried out taking into account the needs of both the entire company and each individual organization and external conditions. One of the most important functions personnel service work with a personnel reserve at the company. This is a system that provides for the targeted training of the reserve for all positions, their training and development, not only professional, but also managerial.

Search and selection of personnel, is to search for employees for vacant and open vacancies. At the same time, personnel officers should be guided by the following requirements: high professionalism, conscientiousness, initiative, high efficiency, customer orientation, discipline, ability to develop, loyalty to the organization, honesty and decency. The technology of search and selection of personnel should be unified.

Adaptation of new employees, which is ensured by a very soft introduction of new employees into the organization, into the unit. As a result, the beginner achieves the required performance as quickly as possible. The personnel service controls the passage probationary period, and upon its completion, the cadre worker must accompany and monitor the development of the entire professional career of the employee.

The system of evaluation and stimulation of labor, which are developed taking into account Russian and international experience, systems for assessing the results of work and its remuneration, as well as a model for a comprehensive assessment (certification) of personnel.

Education and development, designed to increase the professional and personal potential of employees, their contribution to the achievement of the organization's goals. Each head and specialist of the department is obliged to undergo professional retraining or advanced training at least once every three years. The principle should be extremely simple and cruel - those who do not improve their qualifications will sooner or later cease to satisfy the company and will have to leave.

Study of the socio-psychological climate and its optimization, individual psychological assistance to employees of the organization, which leads to a significant increase in the influence of relationships in the team, leadership style on the growth of economic performance of enterprises requires a thorough study of these issues. Heads of personnel services must learn to master the methods of practical psychology and actively use them in their work.

Formation and maintenance of corporate culture: traditions of orders, norms, rules, standards of behavior and values that ensure the effective functioning of the organization. Work is underway on the formation of basic corporate values (patriotism towards the company, a sense of personal responsibility for the accomplishment of the company's tasks, improvement of its work, formation of relationships based on honesty, openness and trust).

The company management cycle includes the following stages:

1. Goal setting

2. Planning

3. Execution

4. Control

6. Formation of managerial influence

7. Adjustment of plans / goals

This structure is typical for strategic management , within the framework of which the company's business ideology is developed and long-term (quality) goals are set, and for operational management , whose task is to maintain from period to period the step-by-step implementation of the goals set at the strategic level.

Budget management (as a method of operational financial management) also goes through the above cycle, and the significance of the stage analysis is:

a. At the level of the entire period— in assessing the values of planned and achieved financial indicators period to meet strategic goals.

b. At the current management level- in assessing the magnitude of deviations of the achieved values of indicators from those planned for a given period.

It is on the basis of the analysis that one can form justified and timely management decision to adjust the operational plans (goals) of the enterprise or to continue the chosen course.

Thus, the analysis of the financial condition of the enterprise as the basis for developing management decisions is the most important step in the budgeting process.

Selection of indicators for analysis and management decision-making

Any method of analysis is based on the calculation of indicators or their groups (management reports) and comparison of the obtained values with established standards.

It is possible to single out many management reports and indicators, and theoretically each of these indicators or their varieties can be calculated for a particular enterprise. However, in practice, the most important step in the development of a management analysis system is the selection of all several key indicators, which will be guided by the managers of the enterprise in their activities.

The reasons for this are as follows:

1. A long list of indicators that most likely have multidirectional dynamics does not allow definitely determine whether the economic situation of the enterprise has improved or worsened over the analyzed period.

2. A well-managed enterprise has a specific system of goals(including financial ones), the achievement of which can be assessed through a corresponding limited set of indicators. Thus, the rest of the indicators are redundant management information and only complicate the process of collecting and processing data.

When determining the set of indicators you need for yourself, you need to focus on:

1. The specifics of the business, industry or product

2. Goals set at the enterprise.

Establishment of standards for comparison of indicators

The main point of the analysis is the comparison of the obtained values. Comparison can be made for different periods, businesses and activities, plan and fact, as well as relative to the normative values of the coefficients. These standards are taken from the following sources:

data from statistical studies of an industry or the entire national economy;
assessments of rating agencies and consulting firms;
own statistical data of the company on the history of its activities;
assessments of the company's managers.

The advantage of using generally accepted standard values is the simplicity and cheapness of obtaining them, and the disadvantage is the high probability of their inadequacy to the specifics of a particular enterprise. The situation with self-determined standards is the opposite: obtaining them is associated with high costs of time, information, labor, qualifications and, ultimately, money, but their usefulness for a given enterprise is likely to be much higher.

In general, we would not recommend taking specific values of standards from textbooks on economic analysis, especially foreign ones, since such values were calculated for enterprises operating in specific national, economic and industry conditions and at other times. The most informative for each enterprise will be the standards independently established by it, based on the statistics collected from period to period at the enterprise itself.

Methods of financial analysis

The following groups of analysis methods can be distinguished:

1. Structural analysis

2. Factor analysis

3. Margin analysis (break-even analysis)

4. Analysis of deviations.

Structural analysis

essence

1. An indicator is considered that has a certain internal structure, i.e. consisting of several parts (elements).

2. The shares of each (or some of interest) of the parts in the total value of the indicator are estimated.

3. It is concluded which of the parts made the largest (or smallest) contribution to the final value of the indicator.

Goals conducting a structural analysis within the framework of budget management:

1. Estimation of the contribution of articles (some of the articles or their groups) to the total budget for the period.

2. Evaluation of the impact of articles on the dynamics of the size of the budget over time.

In accordance with these goals, two main types of structural analysis can be distinguished:

1. Vertical structural analysis

2. Horizontal structural analysis.

Vertical structural analysis

With this method of analysis, budgets or other reports generated on the basis of budgets are studied for the period in order to determine what shares in the total amount of the budget (total amount for the report) the articles included in it have.

Analysis algorithm:

1. The total amount of the budget (final amount of the report) is taken equal to 100%

2. The value of articles and their groups refers to the total value of the budget, and thus the shares of articles (in percentage) are determined.

Examples of vertical analysis:

1. Vertical analysis of the Budget by Balance (see Table 1):

Table 1. An example of a vertical analysis of the Budget by Balance

Assets	Share (%)	Passive	Share (%)
Total assets		Total liabilities
current assets		Short-term liabilities
Cash		Accounts payable
Accounts receivable		long term duties
Goods and stocks		Bank loans
Fixed assets		Own funds
Intangible assets
fixed assets
		Authorized capital

2. Vertical analysis of the Profit and Loss Statement (see Table 2):

Table 2. An example of a vertical analysis of the OTA

Article	Share (%)

Sales of own products
Direct production costs
Marginal income
Manufacturing overhead
Operating profit
Selling expenses
Administrative expenses
Profit from operating activities
Other income/expenses
Profit before tax

Net profit

Horizontal structural analysis

This method of analysis allows you to identify trends in time of individual items and their groups in the overall change in the currency of the budget. This analysis is based on the measurement of the relative growth (decrease) of items in the measured (planned) period relative to the previous (current).

There are two main algorithms for horizontal analysis:

1. Basic: the value of the indicator in each of the subsequent periods is compared with the value in first (basic) of the periods under consideration, taken equal to 100%. For example, see Table 3:

Table 3. Example of a Basic Horizontal Sales Budget Analysis


Products	Periods
	2004		2005 year		2006		2007
	Abs. meaning	Change (%)	Abs. meaning	Change (%)	Abs. meaning	Change (%)	Abs. meaning	Change (%)

2. Chain: the value of the indicator in each of the subsequent periods is compared with the value in the previous him a period taken equal to 100%. For example, see Table 4:

Table 4. An example of a chain horizontal analysis of the Sales Budget

Horizontal Sales Budget Analysis
Products	Periods
	2004		2005 year		2006		2007
	Abs. meaning	Change (%)	Abs. meaning	Change (%)	Abs. meaning	Change (%)	Abs. meaning	Change (%)

Factor analysis

essence this method is as follows:

1. Based on the data obtained for the period (both actual and planned), various budget items of all types are compared with each other according to certain algorithms.

2. The ratios found form a group of indicators (coefficients, indices).

3. The calculated values of the indicators are compared with each other and/or with the values accepted as normative (desired, acceptable or critical).

Target conducting this analysis in the framework of budget management:

1. Assess the compliance of the achieved indicators (including according to the planned data) with the values that the enterprise considers for itself as normative.

2. Assess the degree of influence of some articles on others and on the overall performance of the enterprise through a system of coefficients.

Of the many types factor analysis For budgetary management, it is advisable to distinguish the following types of it:

1. Ratio analysis

2. Analysis of the indicator Return on Investments (ROI)

Ratio Analysis

As part of this analysis, certain values (coefficients) are calculated, the values of which can be compared with each other for different periods, by business, line of business or articles, as well as with accepted standard values.

Characteristics of groups of coefficients

1. Property status of the enterprise- describes the total amount of funds at the disposal of the enterprise, the share of fixed and, accordingly, working capital in the total amount of assets, the share of put into operation and decommissioned fixed assets. Indicators such as share of fixed assets, retirement rates or updates most important for industrial enterprises, the basis of which is the use of machine tools and other heavy equipment. For enterprises in the sphere of trade and services, the values of these coefficients are usually low and do not contain important information.

2. Liquidity- the company's ability to meet its current obligations is assessed. The calculation of liquidity ratios is based on a comparison of the current (current) assets of the enterprise with its short-term liabilities. Because different kinds and groups current assets have varying degrees of liquidity (for example, overdue receivables or stocks of specific raw materials are of little use for repaying debts, while funds are absolutely liquid and will be accepted to repay any obligations), then several liquidity ratios are calculated. Liquidity ratios are the most informative and useful for enterprises with relatively short production (trading) cycles: trade in goods and services for mass demand, light industry, financial institutions, etc., and are less significant for enterprises with long investment turnover periods : ship-, aircraft- and large-scale engineering, construction, Scientific research and development, as their assets are initially illiquid.

3. Financial stability- the structure of funding sources is assessed in terms of their ownership (own or borrowed), the degree of availability and the risk of using them. First of all, the financial stability ratios characterize the dependence of the enterprise on external counterparties (creditors, investors). This group of coefficients is extremely important for an enterprise that widely uses bank loans, bonds, venture investments and other forms of long-term fundraising.

4. Profitability- evaluates the effectiveness of the enterprise by comparing it financial results and resources deployed to achieve those results.

The following indicators can be distinguished

financial results:

1. turnover (gross revenue);

2. revenue from core activities (operating revenue);

3. contribution to cover (marginal income);

4. trade margin;

5. gross profit;

6. profit before tax;

7. net profit (profit for distribution);

8. retained earnings;

and resources:

1. sales;

2. costs (product cost);

3. assets;

4. investments;

5. stocks;

6. areas (commercial, industrial, general, etc.);

7. cash;

8. clients

And so on.

For example, for enterprises, depending on the industry, as a rule, the most informative coefficients are:

trade: profitability of sales and returns from retail space;
transport: return per kilometer, passenger or ton of cargo;
industrial production: return on assets and return on costs;
services: return from a served (attracted) client.

5. Business activity- the effectiveness of the current core business of the enterprise is assessed. To do this, the proceeds from the main products are compared with working capital or net (that is, minus liabilities) working capital.

6. « Golden Rule» business economics- three indicators are compared with each other for two or more periods:

1. the rate of change in profits;

2. the rate of change in sales proceeds;

3. rate of change of assets.

At the same time, an enterprise is recognized as effectively functioning (as they say, the “golden rule” is observed) if simultaneously the following conditions are met:

1. the rate of change in profit is above 100% (i.e. there is an increase);

2. the rate of profit growth is higher than the rate of increase in revenue;

3. the rate of increase in revenue is higher than the rate of increase in assets.

This ratio means that:

1. the economic potential of the enterprise increases (growth of assets);

2. the volume of sales increases at a faster pace, i.e., assets are used more and more efficiently;

3. profit is growing faster than revenue, which indicates a relative reduction in costs.

It should be noted that in some cases (active investment, development of new areas of activity), the “golden rule” may not be fulfilled in the short term, however, this does not mean that the enterprise is inefficient in the long term.

Analysis of the indicator Return on Investments (ROI)

Analysis of the indicator Return on investment can be considered as the most important type of factor analysis for budget management, since it shows the efficiency of the enterprise at the level of the Investment Center, i.e. the top level of the financial structure. At the same time, the financial result obtained for all funds invested by the owners in the enterprise is analyzed.

Algorithm for calculating the ROI indicator:

The enlarged ROI ratio is calculated as the product of the profitability of sales and the turnover of assets. Each of these two indicators, in turn, is decomposed into groups of factors, the combined action of which influenced the specific values of the indicators.

In detail, the scheme for calculating the ROI coefficient is as follows:

1. From the production cost, selling, administrative and other expenses, the sum is total cost

2. Subtracting the total cost from the volume of sales (revenue), we obtain net profit

3. Attitude net profit to sales (revenue) gives the indicator profitability

4. Cash, accounts receivable and inventory form current assets

5. Land, buildings, structures and equipment constitute fixed (non-current) assets

6. The ratio of revenue to the sum of current and non-current assets gives the indicator turnover

7. At the highest level, the product of profitability and turnover yields the final indicator ROI.

The scheme described above is visualized in the form of the so-called "ROI trees".

The multifactorial nature of the ROI coefficient makes it a convenient tool for predictive modeling: by changing the value of one or another factor, we can observe how the final result changes, or, conversely, by fixing the required ROI value, we can see within what limits it is permissible to vary the factor components.

For different businesses and industries, the values of the ROI coefficient itself and its components can vary greatly. So, for example, high turnover rates with relatively low profitability will be typical for enterprises trading in consumer goods, and low turnover with high profitability for luxury goods (jewelry, antiques, etc.).

It is impossible to set any one required value of the ROI indicator for all enterprises and types of business. Since ROI characterizes the return on the capital invested in the enterprise, when using it, first of all, the owners of the enterprise need to determine what return on invested funds they would like to receive, and in accordance with this, set individual standards for the ROI value.

Margin analysis (Break-even analysis)

The essence of this method is to compare fixed costs enterprises and marginal income/contribution for coverage.

The purpose of this type of analysis - break-even analysis allows you to evaluate the volume of sales (both natural and value) required to fully cover all costs at zero profit. This analysis reveals:

1. The minimum level of sales at which the company will be able to continue its activities without incurring losses

2. The contribution of each product (business) to cover fixed company-wide costs, which makes it possible to optimize the structure of production and sales of the company, close unprofitable businesses or evaluate the prospects for a new product.

Note: a complete and reliable break-even analysis is possible only at enterprises that keep track of costs on the basis of "Variable - Constant".

The algorithm for this type of analysis:

1. Considered:

fixed costs of the enterprise for the period;
specific (per unit of production) or total variable costs;
unit price or sales proceeds;
specific marginal income (another name for the indicator is contribution to cover) as the difference between the price and specific variable costs or total marginal income as the difference between revenue and total variable costs;
coefficient of marginal income (contribution to cover) as the ratio of total marginal income (contribution to cover) to revenue.

2. After determining these values, the following are calculated:

1. Break-even point in physical terms(in units of production) as the ratio of fixed costs for the period to the specific marginal income

2. Break-even point in value terms(in monetary units) as the ratio of fixed costs for the period to the marginal income ratio

3. It is also advisable to determine the following indicators:

a. Margin of financial strength ("security visor"), calculated by the formula:

Margin of Financial Safety = (Sales Volume - Break Even Point) × 100% / Sales Volume

The indicator characterizes how much the current sales volume of the enterprise is higher than the minimum required.

b. Operating lever, calculated by the formula:

Operating Leverage = Coverage Contribution / Profit

This value shows by what percentage the profit will change with a change in revenue by 1%. With the help of the “operating leverage” indicator, the level of entrepreneurial risk is characterized: the higher the leverage value, the faster the profit will grow with the expansion of sales, but also the losses will outpace the reduction in revenue.

Operating leverage (and, accordingly, risk) will be higher for enterprises whose cost structure is dominated by fixed costs, and lower for enterprises that incur mainly variable costs. For example, if the staff of an enterprise works on a fixed salary basis, then with a reduction in sales, the company will incur large losses, but on the other hand, with an increase in sales, its profit will grow at a faster pace. The reverse situation: smaller losses and low profit growth will be observed with piecework (variable) wages.

The ratio of operating leverage and financial strength is important. With a high FFP value, an enterprise can afford a high (risk) leverage value, since the loss zone for it is relatively far away, and profit growth is significant. When the company is near the breakeven point, it is necessary to strictly monitor the value of the operating leverage in order to reduce potential losses.

The standards for the values of the operating leverage and FFP should also be set at the enterprise individually, depending on the degree of risk acceptable from the point of view of the company's managers, and its current economic situation.

Variance Analysis

The analysis of deviations determines the difference between the specific values of a certain indicator, and the values can be taken in a wide variety of sections of the economic activity of the enterprise.

Examples:

for a period or on a specific date;
by regions, businesses or branches;
by financial responsibility centers, organizational units or legal entities;
by counterparties, contracts or products.

A special case of the analysis of deviations, allocated to an independent category, is the plan-fact analysis. This analysis allows you to compare the planned and actually achieved values of a certain indicator.

The purpose of conducting a plan-fact analysis in the framework of budget management:

Since the financial planning and accounting the results obtained are the main components of budget management, then plan-fact analysis is considered as the most common type of analysis in the framework of budgeting.

Relationship between different methods of analysis

Assessment of plan-factual deviations is possible for all indicators calculated in any other types of analysis. Thus, there is a projection onto each other of two classifications of types of analysis (see Table 5):

An approximate list of indicators for analyzing the economic activity of an enterprise

No. p / p	Name of indicator	Calculation formula	Purpose
1. Property status
	Share of fixed assets in the total value of assets	OS Cost / Total Asset Value	Analysis of the potential of economic development of the enterprise
	Share of the active part of fixed assets	(Cost of equipment + Cost of Vehicle) / Total value of assets	Analysis of the production potential of the enterprise
	Depreciation factor (Depreciation accumulation factor)	Depreciation of fixed assets and intangible assets / Initial cost of fixed assets and intangible assets	Analysis of the cost of fixed assets and intangible assets already written off to cost
	Acceptance ratio	Current book value of fixed assets and intangible assets / Initial cost of fixed assets and intangible assets	Analysis of the cost of fixed assets and intangible assets intended for write-off in future periods
	Acceptance ratio	1 - Wear factor
	Fixed assets disposal rate	Cost of retired fixed assets for the period / Cost of fixed assets at the beginning of the period	Analysis of fixed assets retired due to dilapidation and other reasons
	OS update rate	Cost of fixed assets received for the period / Cost of fixed assets at the end of the period	Analysis of how quickly the enterprise OS is updated (upgraded)
2. Liquidity and solvency
	Coefficient current liquidity(coverage ratio)	Current Assets / Current Liabilities	Analysis of the overall liquidity of assets
	Quick liquidity ratio	(Cash + Accounts receivable) / Current liabilities	Liquidity analysis considering only the fastest selling assets
	(Immediate) Absolute Liquidity Ratio	Cash + Short-term financial investments / Current liabilities	Analysis of funds that can immediately pay off obligations
	Share of equity in reserves coverage	Own working capital (average for the period) / Cost of goods and stocks (average for the period)	Estimation of the value of inventories covered by the enterprise's own funds
	Share of net working capital	(Current Assets - Current Liabilities) / Total Asset Value	Valuation of unencumbered assets
	Maneuverability of your own working capital (Functioning capital agility)	Cash / Working capital	Estimation of the share of an absolutely liquid asset (money) in the total value
	The share of own working capital in covering reserves	Own working capital / Cost of goods and stocks	Estimation of the share of reserves, the cost of which is covered from own funds
	Coverage ratio	Current Assets / Current Liabilities	Estimation of the ratio of the company's working capital and its current (short-term) liabilities, which are supposed to be covered from working capital
	Reserve coverage ratio	(Paid-in equity - Losses + Long-term borrowings - (Long-term investments + Long-term receivables) + Short-term borrowings + Short-term accounts payable+ Advances received) / Cost of goods and inventory	Assessing the relationship between the value of goods and stocks and the funding sources directly intended to cover goods and stocks
	Accounts receivable turnover ratio	Sales volume (by value) / Average receivables	Determination of the amount of revenue that was “served” by one monetary unit of receivables for the period
	Average collection period for receivables	Average Accounts Receivable / Average Daily Credit Sales	Determining the period during which the company's receivables are paid off on average
3. Financial sustainability
		Equity / Total Asset Value	Contribution evaluation equity in the formation of enterprise assets
	The share of borrowed capital in the total amount of funds	Long-term Liabilities + Current Liabilities / Total Asset Value	Assessment of the contribution of borrowed capital to the formation of enterprise assets
	The share of borrowed capital in the total amount of funds	1 — Equity concentration ratio
	Financial dependency ratio (Financial leverage)	Total Asset Value / Equity	Assessment of the value of assets attributable to one monetary unit of equity
	Financial dependency ratio (Financial leverage)	Equity concentration ratio
	Equity maneuverability ratio	Working capital / Equity	Estimation of the cost of working capital attributable to one monetary unit of equity
	The ratio of own and borrowed funds	Long-term liabilities + Current liabilities / Equity	Assessment of the ratio of own and borrowed funds
	Share of long-term liabilities in investment capital	Long-term liabilities / Long-term liabilities + Equity	Determination of the share of long-term liabilities in the total amount of funds available to the enterprise
	Long-term investment structure ratio	Cost of non-current assets / Long-term liabilities	Assessment of the contribution of long-term liabilities to the formation of non-current assets
4. Profitability
	Return on Equity (ROE)	Net income / Equity	Estimation of the amount of profit attributable to one monetary unit of equity
		Return on Sales × Asset Turnover × Financial Dependency Ratio
		(Net income / Sales proceeds) × (Sales proceeds / Total assets) × (Total assets / Equity)
	Return on assets (Return (return) on investments, ROI - Return on Investments)	Net Income / Total Asset Value	Estimation of the amount of profit attributable to one monetary unit of the value of assets
		Return on sales x Asset turnover
		(Net income / Sales proceeds) × (Sales proceeds / Total assets)
	ROI	Net profit / Cost of goods sold	Estimating the amount of profit generated by one monetary unit of costs
	Profitability of sales	Net profit / Sales volume (in value terms)	Estimation of the amount of profit generated by one monetary unit of sales proceeds
	Norm trade margin(margin)	Trade margin / Sales volume (in value terms)	Estimation of the share of the trade margin contained in one monetary unit of sales proceeds
5. Efficiency in the use of assets
	return on assets	Sales proceeds / Cost of non-current assets	Determination of the amount of revenue generated for the period by one monetary unit of the value of non-current assets
	Production return on assets	Sales proceeds / Cost of technological equipment	Determination of the amount of revenue generated for the period by one monetary unit of the cost of production (technological) equipment
	Asset turnover	Sales proceeds / Total value of assets	Determination of the amount of revenue generated for the period by one monetary unit of the value of all assets
6. Margin analysis
	Break even (in kind)	Total Fixed Costs / Specific Marginal Income	Calculation of the number of units of production, the sale of which will cover all the costs of the enterprise, but will not yet bring him profit
	Break even (in value terms)	Total Fixed Cost / Marginal Income Ratio	Calculation of sales revenue that covers all the costs of the enterprise, but still does not bring him profit
	Marginal income ratio (Contribution to coverage ratio)	Margin income (Contribution for coverage) / Sales proceeds	Estimation of the share of sales volume used to cover fixed costs (with subsequent profit generation)
	Marginal income ratio (Contribution to coverage ratio)	1 - (Total Variable Costs / Sales Revenue)
	Margin of financial strength	(Sales revenue - Break even point) / Sales revenue × 100%	Estimation of a possible reduction in sales volumes before reaching the break-even point
	Break even index	(Sales Revenue - Break Even Point) / Break Even Point × 100%	Evaluation of sales volume exceeding the break-even point
	Operating leverage (Operating leverage)	Covered contribution / Balance sheet profit	Estimation of the relative change in profit with a change in revenue (sales volume) by 1% (assessment of the level of entrepreneurial risk)
7. The "golden" rule of business economics
	Profit change rate	(Profit of the current period - Profit of the previous period) / Profit of the previous period × 100%	Determination of profit growth in the current period relative to the profit of the previous period
	Revenue change rate	(Revenue of the current period - Revenue of the previous period) / Revenue of the previous period × 100%	Determining the increase in revenue (sales volume) in the current period relative to the revenue (sales volume) of the previous period
	Rate of change of assets	(Value of assets in the current period - Value of assets in the previous period) / Value of assets in the current period × 100%	Determination of the increase in the value of assets (property) in the current period relative to the value of assets (property) of the previous period
	Fulfillment of the "golden" rule	Checking if a condition is met: Profit change rate > Revenue change rate > Rate of change of assets >	Assessing the efficiency of asset use and enterprise cost management

Organizational basis for conducting the analysis

Regulation of the analysis procedure

The set of analysis methods and procedures used at the enterprise is approved by its management and enshrined in the “Regulations on Analysis”, which is one of the regulatory documents formed during the establishment of budget management, and is mandatory for all employees responsible for the analysis.

At the same time, the procedure for conducting an analysis at an enterprise is a business process (in a certain sense, similar to the budget planning process), which must also be recorded in the “Regulations on Analysis” and observed in each specific case.

The analysis procedure as a business process is characterized by the following components:

1. Analysis period- the time period for which the analysis of certain data is carried out. In order to carry out the correct plan-fact analysis its period must coincide with the period (horizon and step) of planning for the corresponding planning object: income and expenses, cash flows, movement of goods and materials.

2. Participants in the analysis— persons responsible for carrying out the analysis procedure. Regulations may determine that these persons (or some of them) are united in the Budget Committee.

3. Documents for analysis— management, accounting and other reports used in the analysis procedure.

4. Analysis steps— successive logically connected steps that make up the analysis procedure. A specific set of these steps is determined by the specifics of the enterprise, but in the general case, the following stages of analysis can be distinguished:

a. Provision of information

b. Information analysis

c. Training background information to adjust goals/plans.

Information sources for analysis

Financial analysis is based on:

a. accounting information on the facts of economic activity;

b. planned data (as a rule, aggregated by articles).

In this case, it is possible to use the following accounting policies with the documentation corresponding to each of them:

a. only accounting;

b. only managerial;

c. accounting and management at the same time.

Maintaining management accounting, and even more so, two accounting methods in parallel, is a rather expensive undertaking, but it is management accounting that makes it possible to analyze data most quickly and adequately.

graduate work

2.2 Analysis of the main economic indicators of the enterprise

The main economic indicators are generalizing parameters of the enterprise. Taken together, these indicators reflect the general state of affairs at the enterprise in the production, technical, economic, financial, commercial, and social spheres. Each indicator separately characterizes one of the directions of its internal or external activity.

Analysis of the main economic indicators of the enterprise includes: comparison of various indicators with each other; comparison of similar indicators of the enterprise for different time periods; comparison of planned and actual indicators of the enterprise.

Table 1

Key economic indicators 2011 - 2013 LLC "Aqualine"

Indicators	Deviation	Deviation
	2012 to 2011	2013 to 2012

Sales proceeds, thousand rubles
number,
Production for one employed, thousand rubles
Fund wages, thousand roubles.
The average annual salary of one worker thousand rubles.
Cost price,
Costs per 1 rub. sales, rub.
Profit, thous.
Profitability of activity, %
Profitability of production, %

Table 1 provides data that can be used to obtain a general assessment of the state of the organization.

There is an annual increase in revenue by 24-25%, which indirectly reflects the competitiveness of the enterprise. But at the same time, profitability indicators are declining. Along with the growth in revenue, there was an increase in the number of employees from 2011 to 2012, but after this period this figure stabilized and remained almost unchanged.

When comparing such indicators as "Output per worker" and "Average annual wages per worker", it can be seen that the law of advancing the growth rate of labor productivity over the growth rate of wages is observed, which is a positive trend.

For a relative assessment of the dynamics of change in the cost price, an estimate of the change in costs per one ruble of sales is given. During the three-year period under review, this indicator changed from 0.79 to 0.83 rubles. - this suggests that the company tends to reduce the efficiency of its activities. In further analysis, it is necessary to assess how strongly the inefficiency of the labor incentive system affected this situation. In addition, such an economic indicator of the organization's performance as profitability of sales also decreases every year. In the period under review, it decreased from up to 20.7% to 17.0%.

Nevertheless, such an indicator as "profit" is growing by an average of 11% every year, but still, in terms of growth rates, it lags behind the growth in sales by two times.

It follows from the profit and loss statement that during 2012 Aqualine LLC received a profit from sales in the amount of 27,339 thousand rubles, which is higher than the result of the previous year, when there was a profit from sales in the amount of 26,338 thousand rubles. (Table 2).

table 2

Dynamics of the profit and loss statement of Aqualine LLC

Indicators	Deviation	Deviation
	2012 to 2011	2013 to 2012

Revenue, thousand rubles
Cost price,
Gross profit, thousand rubles
Commercial expenses, thousand rubles
Administrative expenses, thousand rubles
Profit, thousand rubles
Interest receivable, thousand rubles
Interest payable, thousand rubles
Other income, thousand rubles
Other expenses, thousand rubles
Profit up to taxation,
Current income tax and other payments to the budget, thousand rubles
Net profit of the reporting period, thousand rubles

Compared to 2011, sales revenue increased by 24.6% in 2012, while the prime cost increased by 23.2% (Fig. 4).

Profit before tax for 2012 amounted to 42,846 thousand rubles, which is 18,048 thousand rubles, or 72.8% more than the same indicator for 2011 (Fig. 5).

Figure 4. Dynamics of revenue and cost in 2011-2013, thousand rubles

Figure 5. Dynamics of profit in 2011-2013, thousand rubles

In 2013, the organization made a profit both from sales and, in general, from financial and economic activities, which determined the positive values of all three profitability indicators presented in the table for this period.

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The term " analysis”has its origin from the Greek language, where the word “analysis” means dismemberment, fragmentation of an object or phenomenon into separate elements in order to study this object or phenomenon in detail. The opposite is the concept synthesis" (it comes from the Greek word "synthesis"). Synthesis is a combination of individual components of an object or phenomenon into a single whole. Analysis and synthesis are two interrelated aspects of the process of studying any objects and phenomena.

Economic Sciences, including economic analysis, belong to the aggregate humanities , and the object of their research is economic processes and phenomena.

Economic analysis is included in a group of interrelated specific economic disciplines, which, in addition to it, includes control, audit, micro-and, and other sciences. They study the economic activity of organizations, but each from a certain point of view, characteristic only for it. Therefore, each of these sciences has its own, independent subject.

Economic analysis and its role in the management of the organization

Economic analysis(otherwise - ) plays important role in raising economic efficiency activities of organizations, in strengthening their financial condition. It is an economic science that studies economics of organizations, their activities in terms of assessing their work on the implementation of business plans, assessing their property and financial condition and in order to identify untapped reserves to improve the efficiency of organizations.

The subject of economic analysis is the property and financial condition and the current economic activity of organizations, studied in terms of its compliance with the tasks of business plans and in order to identify unused reserves to improve the efficiency of the organization.

Economic analysis is subdivided on the interior and external depending on the subjects of the analysis, that is, on the bodies that carry it out. The most complete and comprehensive is the internal analysis carried out by the functional departments and services of the organization. The external analysis carried out by debtors and creditors and others, as a rule, is limited to establishing the degree of stability of the financial condition of the analyzed organization, its liquidity, both at reporting dates and in the future.

Objects of economic analysis are the property and financial position of the organization, its production, supply and marketing, financial activities, the work of individual structural divisions organizations (shops, production sites, teams).

Economic analysis as a science, as a branch of economic knowledge, and finally, as academic discipline closely interconnected with other specific economic sciences.

Laughter number 1. The relationship of economic analysis with various economic sciences

Economic analysis is a complex science that uses, along with its own, also the apparatus inherent in a number of other economic sciences. Economic analysis, like other economic sciences, studies the economics of individual objects, but from an angle peculiar only to it. It gives an assessment of the state of the economy of a given object, as well as its current economic activity.

Principles of economic analysis:

Scientific. Analysis must comply with the requirements of economic laws, use the achievements of science and technology.
Systems approach. Economic analysis must be carried out taking into account all the laws of the developing system, that is, to study the phenomena in their interconnection and interdependence.
Complexity. In the study, it is necessary to take into account the impact on the economic activity of the enterprise of many factors.
Research in dynamics. In the process of analysis, all phenomena should be considered in their development, which allows not only to understand them, but also to find out the causes of changes.
Highlighting the main goal. An important point in the analysis is the formulation of the research problem and the identification of the most important reasons that hinder production or hinder the achievement of the goal.
Concreteness and practical usefulness. The results of the analysis must necessarily have a numerical expression, and the reasons for the change in indicators must be specific, indicating the places of their occurrence and ways to eliminate them.

Method of economic analysis

The word "method" came into our language from the Greek language. In translation, it means "the path to something." Therefore, the method is, as it were, a way to achieve the goal. In relation to any science, a method is a way of studying the subject of this science. The methods of any sciences basically have a dialectical approach to the study of the objects and phenomena they consider. Economic analysis is no exception here.

The dialectical approach means that all processes and phenomena taking place in nature and society should be considered in their constant development, interconnection and interdependence. So economic analysis studies the indicators characterizing the activities of any organizations, comparing them over several reporting periods (in dynamics), as well as in their change. Further. Economic analysis considers various aspects of the organization's activities in unity and interconnection, as elements of a single process. So, for example, the volume of sales of products depends on its output, and the fulfillment of the planned target for profit depends mainly on

The method of economic analysis is determined by its subject and the challenges ahead.

Methods and techniques, used in , are subdivided into traditional, statistical and . They are discussed in detail in the relevant sections of the site.

In order to practically implement the use of the method of economic analysis, certain techniques have been developed. They are a set of methods and techniques used to optimally solve analytical problems.

The techniques used in economic analysis at individual stages of analytical work involve the use of various techniques and methods.

The key moment of the method of economic analysis is the calculation of the influence of individual factors on economic indicators. The relationship of economic phenomena is a joint change of two or more these phenomena. Exist various forms interconnections of economic phenomena. The most significant among them is the causal relationship. Its essence lies in the fact that a change in one economic phenomenon is caused by a change in another economic phenomenon. Such a relationship is called deterministic, otherwise - a causal relationship. If two economic phenomena are connected by such a relationship, then the economic phenomenon, the change of which causes a change in the other, is called the cause, and the phenomenon that changes under the influence of the first is called the effect.

In economic analysis, those signs that characterize the cause are called factorial, independent. The same signs that characterize the consequence are usually called resultant, dependent.

See below:

So, in this paragraph, we examined the concept of the method of economic analysis, as well as the most important methods (methods, techniques) used in the analysis of the organization's activities. We will consider these methods and the order of their use in more detail in special sections of the site.

Tasks, sequence of conducting and procedure for processing the results of economic analysis

The most complete and deep is the internal (intraeconomic) analysis, carried out, as a rule, by the functional departments and services of a given organization. Therefore, internal analysis faces much more numerous tasks than external analysis.

The main tasks of the internal analysis of the organization's activities should be considered:

verification of the validity of the tasks of business plans and various standards;
determination of the degree of fulfillment of tasks of business plans and compliance with established standards;
calculation of the influence of individual on the magnitude of the deviation of the actual values of economic indicators from the base
finding on-farm reserves to further improve the efficiency of the organization and ways of mobilization, that is, the use of these reserves;

Of the listed tasks of internal economic analysis, the main task is to identify reserves in a given organization.

Before external analysis, in essence, there is only one task - to assess the degree both at a certain reporting date and in the future.

The results of the analysis carried out are the basis for the development and implementation of optimal ones that improve the efficiency of organizations.

In the process of conducting economic analysis, methods of induction and deduction.

Induction method(from particular to general) suggests that the study of economic phenomena begins with individual facts, situations and proceeds to the study of the economic process as a whole. Method same deduction(from general to particular) is characterized, on the contrary, by the transition from general indicators to particular ones, in particular, to the analysis of the influence of individual ones on generalizing ones.

The most important in conducting economic analysis is, of course, the deduction method, since the sequence of analysis usually involves the transition from the whole to its constituent elements, from synthetic, generalizing indicators of the organization's activities to analytical, factor indicators.

When an economic analysis is carried out, all aspects of the organization's activities, all the processes that make up the production and commercial cycle of the organization, are examined in their interconnection, interdependence and interdependence. Such a study is the key moment of the analysis. It bears the name.

After the end of the analysis, its results should be formalized in a certain way. For these purposes, explanatory notes to annual reports, as well as certificates or conclusions based on the results of the analysis are used.

Explanatory notes intended for external users of analytical information. Consider what should be the content of these notes.

They should reflect the level of development of the organization, the conditions in which its activities take place, it should be characterized, on it, data on product sales markets, etc. Information should also be provided on the stage at which each type of product is on the market. (These include stages of introduction, growth and development, maturity, saturation and decline). In addition, it is necessary to provide information about the competitors of this organization.

Then, data on the main economic indicators should be presented for several periods.

Those factors that influenced the organization's activities and its results should be indicated. one should also cite those measures that are planned to eliminate shortcomings in the organization's activities, as well as to increase the efficiency of this activity.

References, as well as conclusions based on the results of the economic analysis carried out, may have more detailed content compared to explanatory notes. As a rule, references and conclusions do not contain generalized characteristics of the organization and the conditions for its functioning. The main emphasis here is on describing reserves and how to use them.

The results of the study can also be presented in non-textual form. In this case, the analytical documents contain only a set of analytical tables and there is no text characterizing the economic activity of the organization. This form of registration of the results of the conducted economic analysis is now being used more and more widely.

In addition to the considered forms of processing the results of the analysis, the introduction of the most important of them into certain sections will also be applied. economic passport of the organization.

These are the main forms of generalization and presentation of the results of the economic analysis. It should be borne in mind that the presentation of the material in explanatory notes, as well as in other analytical documents, should be clear, simple and concise, and should also be linked to analytical tables.

Types of economic analysis and their role in the management of the organization

Financial and managerial economic analysis

Economic analysis can be subdivided into different types according to certain criteria.

First of all, economic analysis is usually divided into two main types - the financial analysis and managerial analysis- depending on the content of the analysis, the functions it performs and the tasks facing it.

The financial analysis, in turn can be subdivided into external and internal. The first is carried out by statistical authorities, higher organizations, suppliers, buyers, shareholders, audit firms, etc. The main the task of external financial analysis is , its and. It is carried out at the organization itself by the forces of its accounting department, financial department, planning department, and other functional services. Internal financial analysis solves a much wider range of tasks compared to the external one. Internal analysis studies the effectiveness of the use of equity and borrowed capital, explores, identifies reserves for the growth of the latter and strengthening the financial condition of the organization. Internal financial analysis, therefore, is aimed at developing and implementing optimal ones that contribute to improving the financial performance of a given organization.

Management analysis, as opposed to financial is internal. It is carried out by the services and departments of this organization. He studies issues related to the organizational and technical level and other conditions of production, using certain types production resources ( , ), analyzes , its .

Types of economic analysis depending on the functions and tasks of the analysis

Depending on the content, functions and tasks of the analysis, the following types of analysis are also distinguished: socio-economic, economic-statistical, economic-environmental, marketing, investment, functional-cost (FSA), etc.

Socio-economic analysis examines the relationship and interdependence between social and economic phenomena.

Economic and statistical analysis used to study mass socio-economic phenomena. Economic-ecological analysis studies the relationship and interaction between the state of ecology and economic phenomena.

Marketing Analysis aims to study the markets for raw materials and materials, as well as the markets for finished products, the ratio of these products, the products of this organization, the level of prices for products, etc.

Investment analysis aimed at choosing the most effective options investment activities of organizations.

Functional cost analysis(FSA) is a method of systematic study of the functions of a product, or any production and economic process, or a certain level of management. This method aims to minimize the cost of designing, mastering production, selling products, as well as industrial and domestic consumption of these products under the conditions of their High Quality, maximum utility (including durability).

Depending on the aspects of the study, there are two main types (directions) of analysis of economic activity:

financial and economic analysis;
technical and economic analysis.

The first type of analysis studies the influence of economic factors on the implementation of business plans in terms of financial indicators.

A feasibility study examines the impact of engineering, technology and production organization factors on economic performance.

Depending on the completeness of coverage of the organization's activities, two types of analysis of economic activity can be distinguished: full (complex) and thematic (partial) analysis. The first type of analysis covers all aspects of the financial and economic activities of the organization. Thematic analysis studies the effectiveness of certain aspects of the organization's activities. Economic analysis can also be divided according to the objects of study. Microeconomic and macroeconomic analysis. Microeconomic analysis studies the activities of individual economic units. It can be divided into three main types: intrashop, shop and factory analysis.

Macroeconomic it can be sectoral, that is, study the functioning of a particular sector of the economy or industry, territorial, which analyzes the economy of individual regions, and, finally, intersectoral, which studies the functioning of the economy as a whole.

a separate sign classification of types of economic analysis is a division of the latter by subjects of analysis. They are understood as those bodies and persons who carry out the analysis.

The subjects of economic analysis can be divided into two groups.

Directly interested in the activities of the organization. This group may include the owners of the organization's funds, tax authorities, banks, suppliers, buyers, management of the organization, individual functional services of the organization being analyzed.
Subjects of analysis indirectly interested in the activities of the organization. These include legal organizations, audit firms, consulting firms, trade union bodies, and etc.

Economic analysis depending on the timing

Depending on the time of the analysis (in other words, on the frequency of its implementation), there are: preliminary, operational, final and prospective analysis.

preliminary analysis allows you to assess the state of this object when developing a business plan. For example, it is evaluated productive capacity organization, whether it is able to provide the planned volume of production.

Operational(otherwise current) analysis is carried out on a daily basis, directly in the course of the current activities of the organization.

final(subsequent, or retrospective) analysis examines the effectiveness of the economic activities of organizations for the past period.

Perspective analysis is used to determine expected results in the coming period.

Forward-looking analysis is critical to ensure the success of the organization in the future. This type of analysis examines possible options development of the organization and outlines ways to achieve optimal results.

Types of economic analysis depending on the research methodology

Depending on the methodology used to study objects in economic literature It is customary to subdivide the analysis of economic activity into the following types: quantitative, qualitative, express analysis, fundamental, marginal, economic and mathematical.

Quantitative(otherwise) analysis is based on quantitative comparisons, measurement, comparison of indicators and the study of the influence of individual factors on economic indicators.

Qualitative Analysis uses qualitative comparative assessments, characteristics, as well as expert assessments of the analyzed economic phenomena.

Express analysis- this is a way to assess the economic and financial condition of the organization on the basis of certain signs that express certain economic phenomena. Fundamental analysis is based on a comprehensive, detailed study of economic phenomena, usually based on the use of economic-statistical and economic-mathematical research methods.

Margin analysis explores ways to optimize the amount of profit received as a result of sales of products, works, services. Economic and mathematical analysis is based on the use of a complex mathematical apparatus, with the help of which the best option solutions of any economic-mathematical model.

Dynamic and static economic analysis

According to its nature, economic analysis can be divided into two following: dynamic and static. The first type of analysis is based on the study of economic indicators taken in their dynamics, that is, in the process of their change, development over time, for several reporting periods. In the process of dynamic analysis, indicators of absolute growth, growth rate, growth rate, absolute value of one percent growth are determined and analyzed, and dynamic series are constructed and analyzed. Static analysis assumes that the studied economic indicators are static, that is, unchanged.

According to the spatial basis, economic analysis can be divided into the following two types: internal (on-farm) and inter-farm (comparative). The first one studies the activities of this organization and its structural divisions. In the second type, the economic indicators of two or more organizations are compared (the analyzed organization with others).

According to the methods of studying the object of analysis, it is divided into the following types: complex, system analysis, continuous analysis, selective analysis, correlation analysis, regression analysis, etc. The most important is a comprehensive final analysis of the activities of organizations, comprehensively studying their work for the reporting period; the results of this analysis are used for both short-term and long-term forecasting.

Operational economic analysis

Operational economic analysis applied at all levels of government. The share of operational analysis in making optimal management decisions increases with approach to individual organizations and their structural divisions.

The most important feature of operational analysis is that it is as close as possible in time to the implementation of individual phases of the production and commercial cycle of a given organization. operational analysis promptly establishes the causes of existing shortcomings and their perpetrators, reveals reserves and promotes their timely use.

Final economic analysis

plays a very important role in the development of optimal final, subsequent analysis. The most important source of information for such an analysis is the reporting of the organization.

Final Analysis gives a refined assessment of the organization's activities and its results for a certain period, ensures the identification of reasonable values of reserves to increase the efficiency of the organization's activities, seeks ways to mobilize, that is, use these reserves. The results of the final analysis carried out by the organization itself are reflected in explanatory note to the annual report.

The final analysis is the most complete type of analysis of the economic activities of the organization.

Socio-economic analysis of the enterprise example. Analysis of the financial and economic activities of the enterprise (on the example of CJSC Promsintez)