Comprehensive analysis of the economic activity of the company «Turboatom»

Entry

The gradual move from Ukraine centrally-planned economic system to a market in a new way raises questions about the methods of production and business enterprises. In these conditions, management companies, studying and forming what is called a civilized market relations, becomes «architect» of new methods of management.

In a market economy, a special place is given to entrepreneurs are able to perform an important function in the company — «to earn profit» — to maintain profitability and competitiveness high.

A market economy creates new demands on the company and its employees. These requirements are dictated not only strong market competition and high standards of quality of products produced by the company, but also the need for flexible responses of firms in shvydkominlyvi market and production situation.

The financial condition is an important characteristic of financial activity. It determines the competitiveness of an enterprise and its potential for business collaboration, is the guarantor of effective implementation of the economic interests of all financial relationships: both the company and its partners.

The financial condition of the enterprise may be stable, unstable, crisis. Ability of companies to make timely payments to finance its activities on an extended basis indicates a stable financial position. Sustained financial condition depends on the results of industrial, commercial and financial activities.

Modern managers need to know the meaning of such concepts of the market economy as solvency, liquidity, solvency of enterprises, the threshold of profitability, margin of financial stability, the effect of price leverage, leverage, degree of financial risk, the risk of bankruptcy and an., As well as the method of calculating that their characterize, and analysis.

One of the main elements of the financial policies of the organization — an analysis of its financial and economic situation. Financial and economic analysis allows us to objectively evaluate the performance of the organization and its business units, to determine the influence of factors on the main figures of financial-economic activity, provides an initial framework for developing financial policies of the organization.

The aim of the course work is a comprehensive assessment, an analysis of the financial and economic situation of the company and develop proposals to improve the financial and economic situation of the company. The object of study is a joint stock company «Turboatom». Course work consists of an introduction, five chapters, conclusions and applications.

asset financial economic business

Section 1. Enterprise-the primary link in the national economy

1.1 Concept, aims and directions of activity of enterprise

Any society for providing of normal (comfort enough) level of the vital functions carries out the great number of types of concrete labor. To this end, some people create organizations (labor groups), which together perform this or that mission (exercise program or goal) and operate on the basis of certain rules and procedures. However, the purpose and nature of so many different organizations. On this basis they can be divided into two groups: entrepreneurial (commercial) that operate and develop at their own expense, and non-entrepreneurial (noncommercial) existence of budgetary financing provided by the state. Organization of the entrepreneurial nature of the activity called enterprises.

Enterprise — is separated organizationally and economically independent main link in the production sector of the economy. that produces products (performing work or providing services). Commercial code of Ukraine given the following definition of the word «enterprise». Therefore, the enterprise is an independent entity, established by a competent organ of the State or local government agency, or other subjects to meet the social and personal needs through systematic implementation of production, scientific research, trade, other economic activity in the order provided by Commercial Code and other laws.

Every enterprise has historically formed a specific name is a plant, factory, mine, etc. Every enterprise a legal entity, has a complete system of reporting and accounting, system balance, bank account, stamp with its name and trademark.

The main directions of activities:

— market research products, or situational analysis;

— innovation activity;

— production activities;

— commercial activity;

— aftersales service;

Every enterprise has its own mission statement, or a general purpose, i.e. clearly solve the reason for its existence. In most cases, the mission of the modern enterprises can be considered production of goods to meet the needs of the market and obtaining the maximum possible profit. Based on the Mission of the enterprise formulates and installed general corporate aims.

I chosen enterprise is Open Joint Stock Company «Turboatom».

OJSC «Turboatom» established pursuant to the order of FDMU from 31.01.1996, № 16-AT by making state enterprise «Kharkov Turbine Plant Sci. Kirov» (successor NVO «Turboatom»). For 70 years of the history produced more than 300 steam turbines for thermal power plants, power station, 110 turbines for nuclear power plants, more than 400 hydraulic turbines and 450 hidrozatvoriv. OJSC «Turboatom» has become one of the largest turbine businesses with a complete production cycle: design, manufacturing, supply, debugging, a room of turbine equipment of all types of power plants. Production of JSC «Turboatom» successfully works in 35 countries on four continents.

1.2 Legal basis of the functioning of the enterprise

Enterprise (firm) has to act and work within the law, which regulates all directions of its activity. A large number of legal acts, crucial is the law of Ukraine «on enterprises in Ukraine», the Charter of the company, as well as consistent with the applicable law governing collective bargaining relationships of labour collective of the еnterprise (firm).

Any enterprise can be established: 1) according to the decision of the property owner or authorized organization, organization founder; 2) as a result of the forced division of another company in accordance with current legislation of Antimonopoly; The enterprise has the right to create their own branches with current and settlement accounts at the Bank. Each created the enterprise is subject to state registration in the place of stay in the Executive Committee of Council of people’s deputies for a fee. Each created the enterprise is subject to state registration in the place of stay in the Executive Committee of Council of people’s deputies for a fee.

Enterprise may be by them liquidating (reorganized) in cases: adoption of the corresponding decision of the owner of the property, declaring it bankrupt, the prohibition of activities established by law for failure conditions. Liquidation is carried out by liquidation Commission appointed by the owner or created, authorized him the authority and bankruptcy-court or by arbitration. Of such action being reported in the press, with the definition of claims to the enterprise is liquidated. The liquidation Commission shall evaluate the existing assets of the enterprise, pay out creditors, compose and convey the owner of liquidation balance. The company is considered to be liquidated (deemed completed) since his graduation from the State Register of Ukraine.

Any enterprise (a voluntary association of enterprises) acts on the basis of their own statutes. In the Charter of the enterprise are determined by its exact name and location; the owner (owners) or the founder (founders); the main mission and goals; management bodies and the manner of their formation; competence (powers) of labour collective and its elected bodies; sources and order of creation of the property; conditions of reorganization and termination of existence.

In the Charter of the enterprise are determined by its exact name and location; the owner (owners) or the founder (founders); the main mission and goals; management bodies and the manner of their formation; competence (powers) of labour collective and its elected bodies; sources and order of creation of the property; conditions of reorganization and termination of existence.

Joint-stock company is one of the legal forms of enterprises. It is created by centralisation of funds (pooling) of different individuals conducted by the sale of shares for the purpose of carrying out economic activity and make a profit.

The main purpose of the creation of joint stock companies in the country is bringing to the commercial circulation of available funds (cash and material) workers and companies to perform certain business tasks. Joint generated from sale of shares.

As the association of capital through the creation of joint-stock company may make individuals and legal entities.

Contribution to the combined company’s capital can be a means, as well as any tangible assets, securities, rights of use of natural resources and other property rights, including intellectual property rights. Total nominal value of shares issued is authorized fund company, which is equal to 1,250 minimum wages, based on the minimum wage, which acts at the time of the company.

Charter company, in addition to the information specified in Article 4 «Constitutive documents of» the law «On Business Associations», must roll on the types of shares of their nominal value, ratio of different types, the number of shares that kuplyayutsya installers, consequences of default by issuing shares, term and procedure for payment of income (dividends) once a year by summing up the year.

Joint creates and operates on the basis of the Memorandum and Rules. According to the legislation of Ukraine company acquires legal personality upon registration. The Company has differentiated property has its own balance, may on its own behalf to conclude contracts, property and moral rights and be sued. Society has a checking account and a round seal with the name, trademark, which affirmed the leadership of the company.

1.3 Market environment functioning of the enterprise

In the broadest sense of the market is the domain of manifestation of economic relations between people, resulting in the production, distribution, exchange and consumption. In a narrow sense the market — a field of commodity circulation and associated with it a set of commodity-money relations arising between manufacturers (vendors) and consumers (buyers) in the process — the sale of goods.

Advanced interpretation reveals a very important aspect of significant market that allows you to define its place and role in the play: the market provides an organic link between production and consumption, under their influence, and he affects them.

On the market are the real scope and structure of the various needs, the social significance of the product and expended in its production labor ratio between supply and demand, which gives a certain level of prices for goods and services.

Functioning of the enterprise market environment refers to the external factors influencing the operation of the enterprise. External medium enterprises in the scientific literature is considered as a set of factors that are outside now and exist independently of him, but affect or may affect its operation.

The external environment of enterprises is determined by several ways:

— Macro — economic, technological, political, legal, social, demographic, natural, international factors and the business environment in the country;

— Microenvironment — suppliers, customers, competitors, intermediaries, contact the audience — a market institutions, social and public infrastructure, which contacted the company.

The external environment has a direct and indirect impact on the company. By direct environmental impact include: suppliers, partners, competitors, customers, goods-substitutes.

Indirect effects to the environment include: international developments, scientific and technological progress, the laws and authorities, socio-cultural factors, the state of the economy.

The main markets and key clients: -electric power stations of Ukraine, Russia, SND countries, Latin America, India, South-East Asia and other countries of the far abroad. The main countries consumers of products of OJSC «Turboatom» in 2008 were: Russia — 50.5%, Ukraine — 28.7%, Kazakhstan — 8.1%, Afghanistan — 3.1%, Azerbaijan — 2.1%, Hungary — 2.3% India — 1.4%, France — 0.4%, Bulgaria 0.4% - and other countries — 3.0%.

Branch of OJSC «Turboatom» is a part of the leading firms of the world. Competitors on the world market is General electric, Ventingus, Siemens, ABB, Jack-Alston.

OJSC «Turboatom» is a monopolist in the market of industrial products of Ukraine of the following types of products: — hydraulic turbines and spare parts to them; - hydraulic butterfly valves and ball; - steam turbines for thermal power stations and spare parts to them; - steam turbines for nuclear power stations and spare parts to them. For modernization and renewal of facilities was developed the plan of technical re-equipment and provided a number of technical measures aimed at technical re-equipment of production and scientific-research, design and technological works.

Consequently, the company occupies one of leading places in the economy of Ukraine. Because the entity has a market sales of its products not only in Ukraine, but also abroad, which positively affects the economic development of the country.

1.4 The organizational structure of the enterprise management

Each organizational structure of the economy corresponds to a certain governance structure determined system and the nature of relations between managerial employees at various levels of management.

Under the governance structure means a series of links and some management staff that perform various management functions, their relationship and interaction, based on the production and organizational structure of the enterprise.

Organizational management structure is a collection of some way linked administrative units. It is characterized by a number of government order, their interactions and functions they perform.

The main purpose of the organizational structure — to ensure effective operations management. It consists in the enterprise include: plant manager, heads of departments, professionals, staff (technical).

The enterprise of OJSC «Turboatom» is located: Moscow Avenue, 199, str. Kharkov. To 2012 the number of the personnel of OJSC «Turboatom» is 5400 people.

Structure of enterprise — two special design bureaus, technological branches (chief engineer, welder), storage base (casting and forging average weight, welded design), production machining, assembly and testing of power equipment.

The management structure of the OJSC «Turboatom» is a multi-level, that is caused by specificity of manufacture of the power equipment. It is characterized by:

— Eight deputy;

— Four deputy chief engineer

Organizational Structure Management OJSC reflects the internal form of government. It is characterized by the highest governing body of the company is the general duty of shareholders.

Management of the enterprise is General Director. It solves the issue of the company, acting on his behalf, has the right of first signature, disposes of the property business. General Director has financial and administrative responsibility for reliability of accounting data and statistical reports.

Control activity is performed by the Supervisory Board and Reviziyna Commission.

To the Board of Directors of OJSC «Turboatom» includes:

1. Chief engineer — manages the facilities to ensure technological prefabricated kits, parts, components, products, semi-manufactures i materials according to schedules of building and assembly works. Performs calculations to provide justification for the need for material and technical resources.;

2. First Deputy General Director — General Designer;

3. Deputy General Director for Economics and Finance;

4. Deputy General Director of Property Management;

5. Deputy director of production;

6. Deputy Director for Information Technology;

7. Deputy General Director on technical equipment and transportation;

8. Deputy General Director for personnel and legal work;

9. Deputy General Director on social issues;

10. Deputy Director of Personnel Management and the regime;

11. Chief Accountant.

Each functional subdivision perform their duties.

1.5 Analytical assessment of assets and capital of the enterprise

Assets — resources controlled enterprise as a result of past events, the use of which is expected to yield economic benefits in the future. Assets enterprise consisting of non-current and current assets. In table 1.1 analyze the structural changes of the assets at the plant of OJSC «Turboatom «.

Table 1.1 Analysis of the structure and dynamics of assets of the enterprise for the year 2010.

Picture 1.

Also, let us analyze the structure of assets of the enterprise OJSC «Turboatom» for 2011 year.

Table 1.2 Analysis of the structure and dynamics of assets of the enterprise for 2011 year.

Picture 2.

Thus, the structure of assets enterprises of OJSC «Turboatom» incorporates a non-current assets, which at the beginning of 2010 amounted to 56.58%, and at the end — 61.32%. This means that the enterprise by the end of 2010 increased the composition of non-current assets. Current Assets of the enterprise in early 2010 amounted to 43.17%, and at the end — 38.58%. This means that the company is actively using its current assets in production. At the end of 2011 current assets increased to 69.81%, and irreversible reduced to 30.15%. In addition, the company has costs of future costs, which at the beginning of 2010 amounted to 0.03% at the end — 0.10%, and the end of 2011 amounted to 0.04%.

Capital — a certain amount of material, money and intangible assets necessary for business. According to sources of capital formation is divided into a (created at the expense of owners of the enterprise) and lending (formed on a temporary basis as a long-term and short-term loans). Analyze the composition of capital enterprises of OJSC «Turboatom» .

Table 1.3 Analysis of the structure and dynamics of the capital Enterprise in 2010.

Picture 3.

Table 1.4 Analysis of structure and dynamics of the capital of the enterprise by the year 2011.

Thus, analyzing the capital structure enterprises of OJSC «Turboatom» we see that within 2 years of the structure remained unchanged, only at the end 2011roku company has reduced the amount of equity at 5%, and current liabilities increased by 5%.

Picture 4.

Conclusions to section 1

In the first section of the course we gave the definition of «enterprise» familiar with the market environment and the structure of management. Besides assessed the assets and capital of my chosen business. Consequently, the company — is organizing an isolated and economically independent main (primary) link in the production sector of the economy that produces goods (performing work or providing services). Enterprise OJSC «Turboatom» specializes in steam turbines for thermal and nuclear power stations, gas turbines, equipment hidroelektrostantsiy and another power equipment.

Market — a field of commodity circulation and associated with it a set of commodity-money relations arising between manufacturers (vendors) and consumers (buyers) in the process — the sale of goods. Market environment of the company includes macro, micro and mezoseredovysche.

Enterprise OJSC «Turboatom» included in the list of companies that have strategic importance for the national economy and security is among the top firms in the world turbobudivnyh the full production cycle: design, manufacture, supply, adjustment, trade services turbine power plants of all types. Production is known in more than 45 countries, among them — Argentina, Bulgaria, Hungary, Germany, Greece, India, China, Mexico, Russia, USA, Finlyandiya, Efiopiya and many others. That five company has a favorable market environment and competitive products. Therefore OJSC «Turboatom» should be developed further.

Also this was the structure of assets and liabilities of the enterprise and in subsection 1.5 built diagrams. They showed that OJSC «Turboatom» incorporates non-current assets — about 70% (end of 2011), current assets — 30% (end of 2011), equity — 66% of current liabilities — 34%.

So, after reviewing the history enterprises of OJSC «Turboatom» go to the next section in which we give the definition of the core business and calculate some indicators.

Section 2. Fixed assets of enterprises

2.1 Concept, classification and valuation of fixed assets

Means of production at the disposal of enterprises and expressed in value form, make it productive assets. Productive assets are divided into major and reversible. The main feature of fixed assets of enterprises is the specific nature of the transfer of its value to the product. Fixed assets transferred its value to the value of the output gradually through depreciation. Another feature of fixed assets is that they are used in the production of a constant kind. According to the Regulations (Standard) Accounting 7 «Fixed assets» concept fixed assets are defined as tangible assets that the company holds for use in the production or supply of goods, services, rental to others or for administrative and socio-cultural functions, the expected useful life (life) with more than one year (or operating cycle, if longer than a year).

Fixed assets — it means work, which takes part in the manufacturing process for many periods, while retaining its natural form and their cost is transferred to the cost of manufactured products gradually through depreciation. In industry, the fixed assets of approximately 80%.

With participation in the production process fixed assets are divided into major production and major non-productive assets. The main production assets — those who take a direct part in the manufacturing process. They are divided into active (directly involved in the manufacturing process, so ensuring proper volume and quality products — machinery, equipment, vehicles) and passive (create conditions to implement the production process — buildings). However, the classification of objects into active or passive part depends on the specific industry. Thus, for engineering machinery and equipment — the active part. In Oilfield industry active part of a building (eg, wells).

Non-productive fixed assets, set of buildings, structures, durable goods, operating in the non-production sphere of socialist society. They serve non-productive consumption society and constitute the material basis of the areas of the national economy that are directly not create material goods (science and education, training, housing and utilities services, social services health, culture and recreation, management and defense of the country) .

In addition, fixed assets are classified by species (technological) structure, by appointment, degree of participation in the production process.

A necessary condition for the proper accounting and planning play fixed assets of enterprises is their classification. The most economically important species (technological) classification, according to which all fixed assets on the basis of similarity of their functional purpose and natural-material composition divided into the following types: land, buildings, transmission devices, machines and equipment (power machinery and equipment, working machines and equipment, measuring and control instruments and devices, laboratory equipment, computers), vehicles, household equipment, tools, industrial equipment and accessories working and productive livestock, perennial plantings and other fixed assets.

Value of individual species (groups) of fixed assets, expressed as a percentage of their total cost of the enterprise determines modelview (technological) structure of the means of labor.

As the degree of participation in the production process of fixed assets are divided into two parts: active and passive.

The active part of of fixed assets — a set of funds that directly affects the subject of labor (machinery, equipment, industrial tools, etc.). Passive part of fixed assets (buildings and structures) — funds with which provide normal conditions of activity.

To establish norms of amortization deductions according to the Law of Ukraine «On Enterprise Profit Tax» on May 22, 1997, as amended by the Law of Ukraine of 24.12.2002 № 349-IV, fixed assets are distributed according to the following groups:

— Group 1 — buildings, their structural components and gear devices, including residential buildings, and parts thereof (flats and public places), the cost of capital improvements to the land;

— Group 2 — automobile transport and components (spare parts) for him, furniture, household electronic, optical, electromechanical devices tools and other office (office) equipment, facilities and accessories;

— Group 3 — any other fixed assets not included in groups 1, 2 and 4;

— Group 4 — electronic computers and other machines for automatic processing of information associated with them means reading or printing the information, and other information systems, computer software, telephones (including cellular), microphones and portable radio transmitters, which cost exceeds the value of low-value goods (items).

Fixed assets are stated at the enterprise are measured at the original (primary), restorative and residual value.

Initial (starting) value of fixed assets — historical (actual) cost of non-current assets in the amount of cash or the fair value of other assets paid (transferred) spent for the purchase (of create) fixed assets The initial value of any production equipment, except the price includes the cost of its transportation and installation on-site use. For this value of fixed assets recorded on the balance sheet during the period of their operation (line 031 Balance Form 1).

Replacement value — is the value of reproduction of fixed assets under modern conditions of production. It takes into account the same cost as the original value, but the current applicable prices.

Net fixed assets — the value of fixed assets, including their funds of wear equal to the initial cost with deduction of depreciation throughout its life.

Addition to these three of fixed assets assessments there are evaluation of fixed assets for salvage value, revalued amount, fair value and book value.

Liquidation value — is the estimated amount that an entity would receive the current time of disposal proceeds after deduction of the estimated costs of disposal, if the asset is obsolete and is in the condition expected at the end of its useful life.

Revalued cost — the cost of fixed assets after revaluation.

Book value — is the value of objects including revaluation, by which they are listed on the balance sheet.

Market Value — The most probable sale price of fixed funds based on their actual status, supply and demand.

Fixed assets are subject to wear. Depreciation — a loss of fixed assets initial technical performance (use value) and the actual value.

There are two forms of depreciation:

1) physical deterioration;

2) moral deterioration (functional, technological, social, ecological).

Physical deterioration — the loss of fixed assets initial quality from operation and (or) the impact of climatic conditions.

The value of physical depreciation is defined as the amount of depreciation for the entire period of operation of fixed assets Coefficient of physical deterioration (Cp.d.) calculated using the formula:

Cp.d.=A/IC

where A — the amount of depreciation from the beginning of the service (the amount wear), hr;

IC — initial cost fixed assets, UAH

Obsolescence — depreciation of existing labor before full physical deterioration under the influence of scientific and technological progress. Obsolescence has 4 under the form:

— Functional depreciation — depreciation of fixed assets as a result of the emergence of a more productive work for the same total cost;

— Technological depreciation — depreciation of fixed assets as a result of the emergence of cheaper labor similar means;

— Social wear — loss of consumer qualities of fixed assets as a result of non-compliance with safety or ergonomics.

— Environmental Wear — loss of consumer qualities of fixed assets as a result of non-compliance of the requirements of environmental safety.

The measure of the moral depreciation of the 1st kind is the coefficient of moral deterioration of the 1st kind (Cmd), calculated by the formula

Cmd.1 = (IC — RC) / IC,

where RC — replacement cost fixed assets

Moral depreciation of the 2nd kind is impossible to assess because it is different for different consumers.

Total rate depreciation of fixed assets is calculated using the formula:

Tcd = 1 — (1 — CD) * (1 — Cmd.1).

Eliminating the effects of physical deterioration is due to:

— Of current and overhaul;

— Ensuring regulatory conditions;

— Reduce unscheduled equipment downtime;

— Reduction of time spent working at the moment.

To prevent obsolescence practice:

— Modernization and reconstruction of labor;

— Increased usage of fixed assets;

— Establishing shorter than the physical life of the period of amortization.

Enterprise OJSC «Turboatom» before it has the following assets: buildings, structures and transmission devices, machinery and equipment, vehicles, tools, appliances, equipment (furniture), perennial plantings and libraries, low-value non-current assets. What are their capital goods at the beginning of 2010 (the residual value) are 211,036 thousand., And at the end — 225 175 thousand. In 2011, the cost of production purposes at the beginning of the year makes — 225,175 thousand., And at the end of the year — 257,337 thousand. Funds nonproductive (the residual value) at the beginning of 2010 are — 19,868 thous., And at the end of the year — 19 782 thousand. In early 2011, the cost of non-production up 21,403 thousand., End — 20,996 thous.

2.2 Analytical assessment of composition, technical condition, movement and effective use of the core business

Species structure of fixed asset enterprise — the ratio of different groups of fixed assets to their total value.

Table 2.1 — Information on fixed assets of the enterprise (the residual value) in 2010.

Description: Payment terms useful lives of fixed assets are as follows: — buildings, radio — from 5 to 40 years — all production equipment — 5 to 35 years; energy welding equipment — 2 to 15 years — vehicles — from 3 to 8 years — electrical, computers — from 2 to 15 years. The original value of fixed assets: initial cost of fixed assets of OJSC «Turboatom» at the beginning of 2010 is 839,172 thousand., And by the end of 2010 — 863,406 thousand. and has the following composition under: buildings, radio — 270,095 thousand., or 32.19%, and 272,949 thousand., or 31.61%, machinery and equipment — 515,137 thousand., or 61, 39% and 534,973 thousand., or 61.96% Vehicles — 7356 thous., or 0.88%, and 7741 thousand., or 0.90%, tool, equipment, inventory — 5,315 thousand. UAH or 0.63% and 5804 thousand., or 0.67%, perennial plants — 34 thous., abo0, 00% and 46 thousand., or 0.00%; library fund — 105 thousand., or 0.01% and 109 thousand., or 0.01%, low-value non-current assets — 41,130 thous., or 4.90%, and 41,784 thousand., or 4, 84%. The degree of physical depreciation: 71.6%. The degree of mechanization and automation of production — 66.5%. Capacity utilization — 63.2%.

Table 2.2 — Information on fixed assets of the enterprise (the residual value) for the year 2011.

Description: settlementterms shall useful operation fixed assets are: — buildings, radio devices — from 5 to 40 years — all production equipment — from 5 to 35 years — steam welding equipment — from 2 to 15 years — means of transport — from 3 to 8 years — electrical, computer technology — from 2 to 15 years. First value of fixed assets of OJSC «Turboatom» at the beginning of 2011 is 867,265 thousand., And the end of 2011 — 917 355 thous., And has the following composition, respectively: buildings, radio devices — 276 808 thousand USD., or 31.92%, and 287 165 thousand., or 31.30%, machinery and equipment — 534 973 thous., or 61.69%, and 559 973 thousand., or 61.05%, transport equipment — 7741 thous., or 0.89%, and 8,511 thousand., or 0.93%, instrument, instruments, inventar — 5804 thous., or 0.67% and 7161 thous., or 0.78%; many years planting — 46 ths., or 0.00% and 46 thousand., or 0.00%; Library Foundation — 109 thous., or 0.01% and 113 thousand., or 0.01%; low non-current material assets — 41 784 thousand., or 4.82%, and 54,386 thousand., or 5.93% degree of physical depreciation of fixed assets — 69.7%; degree of obsolescence — 33% degree of mechanization and automation of production — 66.6%, coefficient of capacity utilization — 63.8%.

To characterize the movement of fixed assets in the enterprise using the following indicators:

— Retirement coefficient — the ratio of disposal of fixed assets to their available at the beginning of the year;

— Coefficient update — the ratio of the absolute amount of fixed assets to their presence at the end of the year.

Calculate the above mentioned factors for enterprise OJSC «Turboatom», and displays them in Table 2.3

Table 2.3 Assessment of the fixed assets of the enterprise.

Calculations will hold the 2010 and 2011 years.

In early 2010, Kzn. = 608 268/839 172 * 100% = 72.5;

At the end of 2010 Kzn = 618 449/863 406 * 100% = 71.6;

In early 2011, the Kzn = 620 687/867 265 * 100% = 71.6;

At the end of 2011 Kzn = 639 022/917 355 * 100% = 69.7;

In 2010 Kvyb. = 8914/863 406 * 100% = 1.03;

In 2011 Kvyb. = 4173/917 355 * 100% = 0.45;

In 2010 Konov. = 33 109/863 406 * 100% = 3.83;

In 2011, Konov. = 54 263/917 355 * 100% = 5.92.

Table 2.3

Analyzing data rates, it can be concluded that in 2010 the difference between the rate of of depreciation at the beginning and at the end of the year is equal to (-1), and in 2011 already was (-1.9). Retirement rate at the end of 2010 was 1.03, and in 2011 — 0.45, therefore, the rate of retirement one year dropped to 0.58. This means that the number of departures per year of fixed assets decreased.

In addition calculating the assessment of the main assets of the company, we calculate the parameters characterizing the efficiency of fixed assets of the company. They are divided into generalized and partial. Renewal rate in 2010 was 3.83, and in 2011 — 5.92, ie one year it increased to 2.09. This means that the company OJSC «Turboatom» annually repairs or replaces the old fixed assets to the new, thereby intending to expand production.

The main of general indicators of fixed assets are as follows:

1) assets ratio (AR), UAH. / UAH:

AR = Q / Sav.,

where Q — volume of products (works, services) company

per year, UAH;

Sav. — The average value of of fixed asset enterprise, UAH;

2) Fund capacity (Fc), UAH. / UAH — There is a reverse indicator to assets ratio:

Fc = Sav/Q, Fc = 1/AR

3) availability of fixed assets of labour (FO), UAH. / person.:

AFA = Sav./ P

where P — Average number of industrial personnel, people.

The average annual value of fixed assets (Sav.) is calculated by the formula:

Sav. = Sb. + Sci. * TI / 12 — Scd. * Tcd. / 12

where Sb. — value of fixed assets at the beginning of the year, UAH.

Sci. — The cost imposed during the year fixed assets UAH.

TI — the number of months to the end of the year, during which operate

introduced fixed assets;

Scd. — The cost of decommissioned of fixed assets during the year, UAH.

Tcd. — The number of months to the end of the year since the decommissioning of fixed assets

Therefore, to calculate the performance of fixed assets first calculate the average annual value of fixed assets. But since we do not know and derived parameters entered into service of fixed assets, in their calculations use the formula simple calculation:

Sav = (IC + Vye) / 2,

where ICinitial cost,

Vye — value at year-end.

In 2010: Sav = (839 172 + 863 406) / 2 = 851 289 thousand UAH.

In 2011: Sav = (867 265 + 917 355) / 2 = 892 310 thousand UAH.

Calculations using of fixed assets indicators in Table 2.4 show a «Indicators of fixed assets.»

Fvza 2010 = 992 923/851289 = 1.17;

Fvza 2011 = 1 357 752/892310 = 1.52;

Fmza in 2010 = 851,289 / 992,923 = 0.86 or 1 / 1.17 = 0.86;

Fmza in 2011 = 892,310 / 1,357,752 = 0.66 or Fmza 2011 = 1 / 1.52 = 0.66;

Foza 2010 = 851 289/4938 = 172.40;

Foza 2011 = 892 310/5 107 = 174.72.

2.4 Performance of fixed assets

Table 2.4

So, as we see capital productivity of JSC «Turboatom» increased by 0.35, which means that the company during the year increased the efficiency of fixed assets That is, the company during the year increased its output by utilizing fixed assets Consequently, growth in capital is a positive trend for the company. Productivity indicates the magnitude of the cost of fixed assets that need to produce a unit cost of manufactured products. Growth productivity production indicates less efficient use of capital assets and a negative trend in the enterprise. As you can see, Fund capacity enterprise OJSC «Turboatom» for the year decreased by 0.2, this is a positive trend for the company. availability of fixed assets during the year increased by 1.01, ie the company increased the number of employees.

2.3 Depreciation of fixed assets

Depreciation (lat. amortisation — repayment, payment of debts) — same as depreciation — a process of gradual transfer of fixed assets for a product that is made with them. To replace worn parts fixed assets doing Enterprise depreciation, ie deduction of certain amounts to fit the physical and moral deterioration of production. Depreciation is used to fully replicate the worn out assets (for renovation), as well as for a partial refund (for overhaul and modernization).

According to the Regulations (Standard) accounting number 7 «Fixed assets» depreciation carried over its useful life (operation) facility, which is set now, in recognition of the asset object (if enrolling in the balance), and suspended for a period its reconstruction, modernization, completion, retrofit and conservation.

Useful life (life) — the expected period of time during which the fixed assets to be used now or for their use will be made (done) now expected volume of goods (works, services).

Depreciation is calculated on a monthly basis in the amount of 1/12 of the annual rates are credited to the depreciation fund and included in the cost of production or distribution costs. Depreciation depend on:

— Methods of amortization or depreciation rates used;

— Amortization period;

— The book value of fixed assets;

There are some methods of depreciation:

1) rectilinear, followed by annual depreciation is determined by dividing the value of the depreciable, the expected time to use the facility and equipment:

A = Ac / T

where Ac — amortized cost of fixed assets;

T — the useful life of the object on the start date of depreciation.

2) Reducing the residual value, which annual depreciation is calculated by multiplying the residual value of the object at the beginning of the year or the original cost on the date of commencement of depreciation and annual depreciation. Annual depreciation rate (percentage) is calculated as the difference between one and the result of the root level of years of useful life of the object from the result of dividing the liquidation value of the object to its original value:

A = RVb * (1 — (RV: OP) ^ (1 / T)

RVb — residual value of fixed assets at the beginning of amortization;

RV — residual value of fixed assets;

OP — original price of fixed assets;

T — useful life.

3) rapid decrease in residual value, on which annual depreciation is calculated by multiplying the residual value of the property at the beginning of the year or the original cost on the date of commencement of depreciation and annual depreciation rate, calculated based on the useful life of the asset and the doubles;

4) cumulative, so the annual amount of depreciation is calculated by multiplying the cost that is amortized, and the cumulative rate. The latter is calculated by dividing the number of years remaining until the end of the useful life of the facility and equipment, amounting to the number of years of its useful life;

A = (Vp — Vl) * (Pk: Cr)

Pk — number of years until the end of Term useful;

Cr — Number of years of useful life (at 4 years = 1 +2 +3 +4 = 10, and the cumulative coefficient in the first year = 4/10).

5) production, followed by monthly depreciation is calculated by multiplying the actual monthly volume of goods (works, services) and production rates of depreciation. The production rate of depreciation is calculated by dividing the value of the depreciable, the total volume of goods (works, services), which the company expects to produce (perform) using assets.

A company may apply the rules and methods of calculating depreciation under tax laws. Depreciation method selected by the company based on the expected manner of obtaining economic benefits from its use.

The method of depreciation of fixed assets object browsing if the expected method of obtaining economic benefits from its use. Depreciation for the new method beginning with the month following the month of the decision to change the method of depreciation.

Enterprise OJSC «Turboatom» pursuant to the Law of Ukraine «On accounting and financial reporting of in Ukraine» dated 16.07.99 p. № 996-XI, regulations (standards) approved orders Minfinu Ukraine and other regulations, with a choice of accounting policy to comply with the now unified methodology reflected in the accounting i reporting business transactions and order of evaluation of accounting and guided «Regulations on the procedure for accounting of certain assets and operations of enterprises state, municipal sectors of economy i commercial organizations that own and / or use of state, municipal, approved by order MOF Ukraine of 19.12.2006, № 1213, Order of the enterprise № 61 of 25.04.2007 OJ was amended by Decree № 73 of 08.04.2008 OJ was approved the following accounting policy on depreciation: amortization of fixed assets accrue with the use of rectilinear accrual depreciation based on depreciation cost object and expected its useful use (operation). Attribute to the part low of material fixed assets (MNMA) — MATERIAL assets of in useful life (operation) more than one year (or the operating cycle, if it more than year), the value of which does not exceed USD 1000. Charges depreciation (depreciation) on such assets (other than special purpose equipment and expended from Librarians), in charge of 50% of their cost in the first months of the object, and the remaining 50% - in the months of phasing out their assets. amortization (depreciation) to equip special purpose accrue with the use of rectilinear accrual depreciation based on the value of equipment and expected term of its useful life (operation). amortization objects in group «library funds» charge in the first months of their use in the amount of 100% of their cost. amortization intangible assets accrue with the use of rectilinear accrual depreciation based on the value of the object and depreciation expected its useful use (exploitation).

2.4 Methods for effective use of fixed asset enterprise in consideration

Improve the use of assets and capacities in enterprises can be due to: increased capacity utilization and fixed assets in intensity and increase their load in extensiveness, respect proportionality and variability in the fixed assets (equipment), actively performed process control.

Intensive way using of fixed assets functional business — is retooling and improving recovery of fixed assets. Extensive use of assets — is to increase working hours of existing equipment (for change, day, month, quarter) and increase the number of existing facilities throughout its structure. We draw attention to two major techniques to improve the efficiency of enterprises: reconstruction and conscientious and professional attitude to work of the workers themselves. Control of of fixed assets enterprise staff affects the production process, and because the proportion of fixed assets (machinery, equipment, buildings) requires gentle care. Flow control is steadfast inspection equipment and all equipment.

Extensive loading machines and equipment only limited fund calendar time. Significant improvement in extensive downloading of labor helps reduce fleet idled equipment and accelerate decommissioning unnecessary and inefficient equipment used and the organization through this full two-shift operation. Figure 5. shows a scheme of systematic and consistent scheme implemented effective use fixed assets

Picture 5.

Conclusions to Section 2

Section 2 discusses the basic foundations of JSC «Turboatom». Coefficients of depreciation, disposals and updates OB. Also in this section is intended utilization OB: return on assets, fund capacity, capital-labor ratio.

The economic activity of enterprises in Ukraine takes place in the context of limited investment resources, which necessitates efficient use of their available assets. So, before now become a task achieve greater utilization of existing assets and especially their active part in time and capacity, that it is about raising intensive use.

Consequently, the company OJSC «Turboatom» to improve the efficient use of assets should be: broad introduction of NTP, accelerating the development of new, more productive capacity, the elimination of structural imbalances and bottlenecks, increasing the proportion of the active part of the assets in their total value, improve the physical condition funds by improving the organization and carrying out their repair service, improve the use of equipment in time, improve reliability, durability, maintainability funds.

Section 3. Current assets of enterprise

3.1 Enterprise Current assets: functional and cell structure, sources of formation

Working capital — is the financial resources invested in facilities, the use of which is now within one production cycle or relatively short calendar period (usually up to one year).

Current assets are one of the components of property of an enterprise, the state and the efficiency of which is essential for success. They are in constant motion, consistently passing all stages of the operating cycle, so their volume should be sufficient to ensure the continuity of the production process.

Current assets — a collection of monetary resources necessary for the development and production cycle of revolving funds and funds circulation. Current assets consist of revolving funds and appeals. Revolving funds — is part of the means of production which once involved in the production process. It and immediately transfer their value to the finished product and are constantly changing their natural external form. Funds appeal — a means of serving process sales (in the process of production, they are not involved).

Current assets are designed to provide a dynamic component of economic activity. In the cycle they undergo three stages of change:

1. Harvesting stage — «money — current assets» — covers the period required for the creation of inventory. Current assets at this stage in the form of money used to purchase raw materials and other items of work.