A comprehensive analytical evaluation of economic activity of the enterprise

A comprehensive analytical evaluation of economic activity of the enterprise


    • The essence and content of the analysis of the enterprise financial activities
    • Methodology and methods of analysis of economic activity
    • Informational background of analysis
    • Analysis of indicators of economic activity of the enterprise
    • Ways of improving indicators of economic activity




At the present stage of development of our economy, the issue of analyzing the financial condition of an enterprise is very actual. From the financial state of the enterprise depends largely on the success of its activities.                   Therefore, the analysis of the financial condition of the enterprise is given a lot of attention.                                                                                                     In market conditions, the guarantee of survival and the basis of a stable position of the company is its financial stability. It reflects the state of financial resources in which an enterprise, freely manipulating funds, is able to effectively ensure their uninterrupted production and sale of products, as well as to minimize the costs of its expansion and renewal.                                                          To evaluate the financial stability of an enterprise requires an analysis of its financial condition. Financial condition is a set of indicators that reflect the availability, location and use of financial resources. The purpose of the analysis is to evaluate the economic activity of the enterprise, as well as to constantly carry out work aimed at improving it.

Because of continuing change of economy state and constant threat of decline, the need of entities to achieve the best possible results and make higher profit, it is imperative that companies be able to analyze their overall performance and assess the current financial state. In the end, in order to make optimal decisions, which going to result in improving the enterprise success, managers should have all the information needed. In our opinion, the best way to achieve better performance is to conduct comprehensive economic and financial analysis and to understand the factors that influence the companies’ financial performance (primarily the economic and financial factors).

The main purpose of our research is to do a comprehensive analytical evaluation of economic activity of the enterprise. To achieve this goal it is necessary to solve the following tasks:


  • to describe the essence and content of the analysis of enterprise financial activities
  • to identify methods for analysis of economic activity
  • to describe informational background of analysis
  • to find the ways for improving of indicators of economic activity
    • The essence and content of the analysis of the enterprise financial activity

Financial analysis is an important part of the formation of an effective financial policy of the company, both in the short-term and long-term.                       Financial analysis allows us to identify shortcomings in the company’s financial policy, take appropriate measures to timely eliminate these shortcomings, find reserves to improve the financial condition and solvency of the company and develop recommendations aimed at improving the financial condition of the company through improving the company’s financial policies.                              Due to a competently financial analysis of the company’s activities, it is possible to adjust the tax policy, accounting policies, credit policy, change the dividend policy in order to improve the investment attractiveness of the company. The importance and role of financial analysis can’t be overemphasized, since it is the basis on which the development of an effective financial policy of the company is built. The quality of the financial analysis carried out depends on the methodology used by the company, the reliability of its financial statements, and on the competence of those responsible for making managerial decisions in the field of financial policy.

The results of the comprehensive financial analysis of the company should allow real-time decisions on eliminating the negative impact of both external and internal factors.                                                                                               It is through systematic and regular financial and economic analysis that it is possible to proceed to the development of an effective planning and forecasting system, a rating evaluation of the financial condition and investment attractiveness of the company, which is the key basis for crisis management.                                    Based on the data of the final financial analysis, the development of key areas of the company’s financial policy is carried out, and the effectiveness of management decisions depends on how well it is carried out.


Thus, we can say that financial analysis is one of the main tools for building and evaluating the company’s financial policy, identifying trends, measuring proportions, planning, forecasting, determining key factors of the company’s activities, calculating their impact on the result, identifying unused reserves.

The purpose of financial analysis is to assess the financial parameters of the organization’s activities.

The main purpose of financial analysis is to obtain a certain number of priority indicators that give an objective picture of the financial state of the enterprise:

  • changes in the structure of assets and liabilities;
  • dynamics of settlements with debtors and creditors;
  • the amount of profit and loss, the level of profitability of assets, equity and sales;
  • changes in the turnover of assets and equity;
  • the availability of net working capital at the beginning and end of the period under study, etc.

One of the most important characteristics of the financial state is the financial stability of the enterprise, which largely determines the stability of its activities.


  • Methodology and methods of analysis of economic activity

Methods for evaluation the financial condition in the interpretation of different scientists have some differences, related to both the sequence of the analysis, the methodology for calculating the coefficients, and with particular consideration of certain forms of financial reporting. Thus, L.V. Dontsova and N.A. Nikiforova offers a consistent review of the content of all forms of reporting and consideration of the impact of inflation on data [2]. In the works of the team of scientists under the editorship of. O.V. Efimova [1] focuses on the analysis of the balance sheet, financial condition of the enterprise and the possibilities of its bankruptcy, which is also characteristic for the educational publications of V.V. Kovaleva [3] and O.N. Volkova [4].

The main indicator of the financial state of the organization is its financial stability and responsibility, the study of which, the first to engage Western scientists, such as U. Biver, E. Altma, D. Duran, who in the crisis of the forties and sixties in the United States, Organizations, which later went bankrupt.

In the practice of financial analysis, six main methods are distinguished (Figure 1):

Figure 1 — Basic Methods of Financial Analysis

Horizontal (time) analysis is comparison of each reporting item with the previous time period. Horizontal analysis is carried out using the following methods: simple comparison of financial statements and analysis of sudden changes; Analysis of changes in the articles of reporting in comparison with changes in other articles; while special attention should be paid to cases where the change in one indicator by economic nature does not correspond to changes in another indicator.

Vertical (structural) analysis is the definition of the structure of the final financial indicators with the identification of the impact of each reporting item on the final result. Vertical analysis is carried out in order to identify the specific weight of individual items of reporting in the total, the final indicator and the subsequent comparison of the result with the data of the previous period.

Comparative (spatial) analysis is an analysis that includes an intra-economic analysis of free reporting indicators for individual indicators of the firm, subsidiaries, divisions, workshops, and inter-economic analysis of the company’s activity against the competitors’ firms, with industry average and average economic data.

Factor analysis is the analysis of the influence of individual factors (causes) on the resultant indicator with the help of deterministic or stochastic methods of research. Moreover, factor analysis can be either direct (the actual analysis), when the resultant score is broken up into constituent parts, and the reverse one (synthesis), when its individual elements are combined into the overall effective indicator.

The fifth method — trend analysis is the comparison of each reporting position with a number of previous periods and the definition of a trend, i.e. the main trend of the dynamics of the indicator, free from random authority and individual characteristics of special periods. With the help of the trend, possible future values of the indicators are predicted, and accordingly, a prospective forecast of the analysis is conducted.

The sixth method — the analysis of relative indicators (ratios) is the calculation of the relationship between the individual positions of the report or the positions of different reporting forms, the determination of the interrelations of the indicators.

The multiplicity of financial coefficients stimulates the search for comprehensive evaluation that allow constructing workable designs that include several components according to the chosen algorithm or use the integral score. At the same time, not only the number of coefficients varies, but also the normative value [12].

In practice, the organization is solvent if the cash assets and funds in settlements, as well as material current assets fully cover short-term liabilities. For an approximate assessment of financial stability, the following condition is used [9]:

CA <2 × OFE – NCA                      (1.1)

Where CA — current assets, OFE — own funds of the enterprise, NCA — non-current assets.

In the literature, various statistical and economic-mathematical methods are considered:

— the sum method, when, for example, the growth rates of the selected indicators are summed up;

— arithmetic mean value, for example, proceeding from the same growth rates, but taking into account the weight of each indicator by any of the principles;

— the method of the sum of places when the places achieved by the enterprise according to various displayed indicators are summed up: the smallest amount of places means the first place in the rating of enterprises, etc.

— the method of scoring, when each indicator has its own weight point and in points, the increment of indicators on a certain scale, etc.,


  • Informational background of analysis

In the practice of analytical work, the most widely used are static economic and mathematical methods: correlation, regressive, dispersive and factor analysis, the method of principal components, comparative and functional-cost analysis, etc.

The initial information base for the analysis of the financial condition of the enterprise are accounting balances, reports on financial results, cost structure, other accounting and statistical information and operational information. Depending on the purpose of the analysis, different approaches to classification, recruitment and calculation methods of various absolute and relative indicators are applied in foreign and domestic practice, allowing to assess not only the current financial situation of the enterprise, but also to identify certain trends in its development for the future.

The source of the analysis of financial and economic activity is the accounting reporting of the enterprise. In accordance with Article 14 of Federal Law No. 402-FZ of December 6, 2011, from January 1, 2013 the annual accounting (financial) statements consist of the balance sheet, the report on financial results and the annexes to them, the annual accounting (financial) statements of the non-profit organization consists of The balance sheet, the report on the target use of funds and their annexes [8].

The qualitative characteristics of indicators used to analyze the effectiveness of economic activity of the enterprise and described in the scientific literature, costly, as well as potential, approaches, can be conditionally defined as the main elements of the economic approach. The indicators of the cost approach primarily include material consumption, depreciation, capacity, energy intensity and other similar indicators; Indicators of a potential approach include capital productivity, labor productivity, etc.

Despite the fact that the cost-effective approach to the analysis of the efficiency of the economic activity of an enterprise makes it possible to identify and quantify the trends in the effectiveness of resources consumed and not consumed, it does not disclose such an important qualitative characteristic of the economic efficiency of a company’s economic activity as its net profitability.

Therefore, when forming a system of indicators characterizing the economic approach to the analysis of the efficiency of the economic activity of an enterprise, it is important, in our view, to focus more on the indicator of net profit, which in its calculation is a comparable indicator related to assets, or to equity, or to income from ordinary activities (as a basis for comparison), and characterizes the profitability of the enterprise, which involves the calculation of such indicators as: return on assets, profitability of company assets, return on equity, profitability of sales, etc.

From the approaches recommended in the scientific literature for the purposes of evaluation the effectiveness of the economic activity of an enterprise, it is realized in the aspect of specific analytical indicators, which together constitute a method for a comprehensive assessment of the efficiency of the economic activity of an enterprise. Such a technique is acceptable practically for enterprises of any industry affiliation, including enterprises producing food products. However, its reliability and reality largely depend on the quality of the information and analytical base, which is currently represented by data reflected in the main forms of financial statements of enterprises, namely in the balance sheet, the statement of financial results and their annexes.

It is clear that none of the forms of the current financial statements contain either a special section or a separate reporting form on the assessment of the effectiveness of economic activities of enterprises. However, such a section is important not only for external users: investors, creditors, credit and financial institutions, but primarily for internal users for the purpose of making managerial decisions. The lack of analytical information necessary for evaluating the effectiveness of the company’s economic activity both in external and internal reporting indicates lack of transparency in the current forms of financial reporting, which in turn reduces its quality, such as utility and efficiency [9].

Analysis of financial and economic activities of the organization consists of the following stages:

— analysis of property and sources of its formation;

— analysis of financial responsibility and financial stability;

— Analysis of financial results, efficiency of use of assets and sources of their formation;

— assessment of financial condition.

However, among analysts there is no consensus on the composition, classification and even the names of coefficients.


    • Analysis of indicators of economic activity of the enterprise


To conduct the analysis, it is necessary to consider the dynamics of the organization’s financial results. As an example, we will analyze «San-Techno» LLC. This is a construction company of a wide profile and is ready to offer a full range of services in the field of construction and design. The goal of San-Techno LLC is to achieve the result that meets all the requirements of the customer, and the task is to ensure the highest quality of work performance at reasonable prices and the terms of their production.                                                                      Legal address: 149120, Moscow,  street of Shchepkina 28, office 602.

Analysis of property and sources of its formation.

The accounting statements of San-Techno LLC are presented in

Appendix 1 [22]. Based on the accounting data, an analysis of the financial condition of San-Techno LLC can be made. The property of the enterprise reflected in the balance sheet asset (Appendix 2) is divided into non-current (long-term use) assets (the I section of the asset balance) and current (short-term) assets (II section of the asset balance).

The total assets of San-Techno LLC in 2013, compared with 2012, significantly increased. The currency of the balance sheet increased by 90.3%, or by 781477 thousand rubles. And was as of 01.01.2014 1646886 thousand rubles. In the most significant degree, this was due to the growth of short-term accounts receivable, the amount of which increased by 701482 thousand rubles. Or 96.5%, and already as of 01.01.2014 amounted to 1428254 thousand rubles. In the general structure of assets, non-current assets, the value of which at the end of 01.01. 2012 was 63159 thousand rubles., increased by 35802 thousand rubles. Or 56.7%, and as of 01.01.2014 their value was 98961 thousand rubles. Or 6.0% of the total structure of property. The value of current assets also increased by 745475 thousand rubles. Or by 92.9%, and amounted to 1547925 thousand rubles. Or 94.0% of the total structure of the property. The share of fixed assets in the total structure of assets as of the end of 01/01/2014 was 5.4%, which means that San-Techno LLC has an «easy» asset structure and indicates mobility property.

In the structure of current assets at the end of the reporting period, a high share of accounts receivable should be noted. The value of short-term receivables from customers and customers as of 01.01.2014 was 1300487 thousand rubles. The amount of accounts receivable for the analyzed period increased by 586182 thousand rubles, which is a negative change and may be caused by a problem with payment of services, i.e. diverting part of the current assets and immobilizing part of the working capital from the production process.

San-Techno LLC as of 01.01.2014 has an active balance (accounts receivable more than accounts payable). Thus, San-Techno LLC provides its customers with a free loan in the amount of 217395.0 thousand rubles. Vertical and horizontal analysis of the liability of the balance of San-Techno LLC is presented in Appendix 2 [22].

The growth of the currency of the sources of formation of the property of San-Techno LLC was largely due to the growth of accounts payable to suppliers and contractors. For 2012-2013 years. The growth of this article amounted to 534,673.0 thousand rubles. Or 86.4% and already as of 01.01.2014 the value of the article was established at the level of 1353577.0 thousand rubles.

Analysis of solvency and financial sustainability

The coefficient of absolute liquidity of San-Techno LLC and at the beginning and the end of the analyzed period is below the normative value (0.2), which indicates that the value of the coefficient is too low and the enterprise is not fully provided with the means for timely repayment of the most urgent liabilities from the most liquid assets.

Analysis of the liquidity of the balance of San-Techno LLC by relative indicators for the period from 01.01.2012 to 01.01. 2014 is presented in Table 1.

Table 1

Analysis of the liquidity

Activities 2012y. 2013y. 2014y.
Absolute liquidity ratio 0,08 0,13 0,07
The coefficient of intermediate (fast) liquidity 1,15 0,97 1,13
Coefficient of current liquidity 1,18 1,12 1,13
Coefficient of coverage of working capital by own sources of formation 0,15 0,12 0,14
Coefficient of restoration (loss) of solvency 0,53 0,57


As of 01.01.2012, the absolute liquidity ratio was 0.08. As of 01.01.2014, the value of the indicator decreased, and amounted to 0.07.

The coefficient of intermediate (fast) liquidity shows how much of the short-term debt can be repaid at the expense of the most liquid and fast-selling assets. The normative value of the indicator is 0.6-0.8, meaning that current liabilities should be covered by 60-80% due to quick-selling assets. As of 01.01.2012 the value of the indicator of fast (intermediate) liquidity was 1.15. As of 01.01.2014, the value of the indicator decreased, which can be regarded as a positive trend, since the value of the indicator at the beginning of the analyzed period exceeded the normative one, and amounted to 1.13.

The ratio of current liquidity to both the beginning and the end of the analyzed period is below the normative value (2), which indicates that the enterprise is not fully provided with its own funds for conducting economic activities and timely repayment of the term obligations. As of 01.01.2012 the value of the current liquidity ratio was 1.18. As of 01.01.2014 the value of the indicator decreased, and amounted to 1.13.

Since at the end of the analyzed period the ratio of current liquidity is below its normative value (2), the recovery factor of the company’s solvency is calculated. The indicator of restoration of solvency indicates whether the company will be able to restore it in the next six months under the current dynamics of the change in the current liquidity indicator if it will lose its solvency. At the end of the period, the value of the indicator was set at 0.55, which indicates that the enterprise will not be able to restore its solvency, since the indicator is less than one.

Based on the financial statements, we will make an approximate assessment of financial stability using formula (1.1).

As of 01.01.2012: 802449> 2 × 183808 — 63160

The condition of financial stability of the company is not met

As of 01/01/2013: 1420181> 2 × 163420 — 52700

The condition of financial stability of the company is not met

As of 01/01/2014: 1547924> 2 × 277907 — 98961

The condition of financial stability of the company is not met

Since in San-Techno LLC this condition is not observed either at the beginning or at the end of the reporting period, the enterprise can not be considered financially stable.


Sources of own circulating assets for formation of stocks and expenses can be calculated by the formula (2.1):

Sources of own funds for the formation of reserves and costs = SOF – NCE     (2.1)

where SOF is the source of own funds; NCE is non-current assets.

As of 01.01.2012: sources of own funds for the formation of reserves and costs were: 183808-63160 = 140648 thousand rubles.

As of 01/01/2013: 163420-52700 = 130720 thousand rubles.

As of 01/01/2014: 277,907-98961 = 178946 thousand rubles.

Sources of own funds adjusted for the amount of long-term borrowed funds are calculated using formula (2.2):

OCA, adjusted LtBF = SOF+LtCL – NCE                                      (2.2)

where LtCL – long-term credit loans.

As of 01.01.2012, the sources of equity, adjusted for the amount of long-term borrowed funds were: 183,808 + 49 — 63160 = 140697 thousand rubles.

As of 01/01/2013: 163420 + 61- 52700 = 120781 thousand rubles.

As of 01/01/2014: 277,907 + 140 — 98961 = 179066 thousand rubles.

The total amount of sources of funds taking into account long-term and short-term borrowed funds is given by the formula (2.3):

Total amount of sources of funds, subject to LtBF and StBF = SOF+LtCL+StLBF-NCE                                                                                                          (2.3)

where StLBF –  short-term loanable and borrowed funds

As of 01.01.2012, sources of equity, adjusted for the amount of long-term borrowed funds were: 183,808 + 49 — 63160 + 35000 = 145,781 thousand rubles.

As of 01/01/2013: 163420 + 61- 52700 = 120781 thousand rubles.

As of 01/01/2014: 277,907 + 140 -98961+ 150000 = 329066 thousand rubles.

The coefficient of financial stability of  San-Techno LLC shows that at the end of the period under review only 14.0% of the company’s assets are financed at the expense of its own capital with a standard of 60.0%.

The share of accounts receivable in total assets in San-Techno LLC is quite high. If the standard is not higher than 0.4, at the end of the period under consideration, 87% of the current assets of the organization were short-term receivables. Therefore, San-Techno LLC conducts inefficient work with debtors.

The complex indicator of financial stability in  San-Techno LLC is above 120 (139.58), therefore, the company has a fairly good financial situation. However, there is a problem of ineffective work with debtors.

Financial stability management should be considered as a targeted impact on a company’s financial position in a certain direction to achieve its objectives at the lowest cost.

It significantly reduces the risks of the business entity, because Financial stability can be considered as an allowable range of fluctuations of indicators that assess its financial state in conditions of environmental variability. With this approach, the financial stability of the enterprise allows you to assess the likelihood of a breach of settlement obligations and reflects the level of risk of its operations, depending on the amount of borrowed capital. Most often, this characteristic of financial sustainability is applied to those economic entities for which the risk environment is the subject area of ​​activity (insurance companies and enterprises of the real sector of the economy), as well as in the crisis conditions of economic development, for example, at present [15].


The implementation of this goal is directly related to strengthening the financial stability of the enterprise. The use of specific methods should be preceded by a financial analysis of the situation, which will identify the most problematic areas. Most often, recommendations for improving financial sustainability are as follows.

This management of working assets, short-term obligations, non-current assets and own funds.

Thus, for OOO San-Techno the following measures are proposed to increase financial stability:

  1. Management of accounts receivable

The most important thing in the management of accounts receivable is the control over the turnover of funds in settlements with customers. Of great importance in the development of credit policy is the selection of potential buyers, as well as the definition of payment terms for goods, work services that are provided for in contracts.

The selection can be carried out from the position of such informal criteria as the observance of the payment and settlement discipline in the past, the determination of the predictive financial capabilities of the buyer-client for the payment of the volume of services, goods, the evaluating of their current solvency and financial stability, the accounting of the economic and financial conditions of the enterprise – seller (overstock or the level of need for cash).

The credit policy implemented by the enterprise should enable the financiers to properly manage the receivables, i.e. to plan the receipt of funds, to present a real picture of debts of debtors, and not some abstract figures that are reflected in the accounts (without considering the probability of their return), as well as analyze the characteristic trends. One of the most common methods for solving this problem with regard to customers with whom you already have work experience is the evaluation of credit history.        The method is based on the ranking of buyers on a certain set of indicators and the establishment of criteria for making the right decision on granting a loan.

The head of San-Tehno LLC needs, by its order, to determine and establish the personal responsibility of those officials who initiated the preparation and conclusion of a contract with «unreliable» buyers, which resulted in the appearance of an overdue, and subsequently also uncollectible receivables. Therefore, it is recommended to fix the personal responsibility of employees in the special regulations for the management of receivables. Also it is offered San-Techno LLC to define a credit limit for each debtor by the following formula (3.1):

Credit limit = S × K                                                                               (3.1)

where S is the average monthly amount of cash inflows for the last three months;

K is the correction factor.

If, after carrying out formal and informal analysis and assessing the client’s financial situation, there are still some doubts about its solvency, but a deal with it is needed for reasons of commercial interest (character), it is necessary to try to minimize its credit risks, without losing at the same time client.

There is another option for managing accounts receivable — this is the use of factoring. Factoring operations undoubtedly contribute to speeding up settlements with debtors, saving working capital, as well as careful execution of contracts in world trade.

  1. Management of loan capital

The loan capital used by the enterprise characterizes in aggregate the volume of its financial obligations or the total amount of debt.

A financial lever is used to maximize the return on equity at a given level of financial risk. He characterizes the use of the company’s loan funds, which will provide extra profit on equity capital.

Such an indicator, reflecting the level of generated profit with a different share of loan funds, is defined as the effect of a financial leverage. This method allows you to determine the safe amount of loan funds, calculate the reasonable conditions of crediting.

The indicator used to assess the efficiency of the use of loan capital is the effect of the financial leverage (EFL) [16]:

(3.1)                                    EFL= (ROA-WAP) . (1-Tr) . LC


where ROA is the economic profitability of aggregate capital before taxes (the ratio of the amount of profit to the average annual value of the total capital);

WAP — weighted average price of loan funds (ratio of debt servicing costs to the average amount of borrowed funds);

Tr — the tax ratio (the ratio of the amount of taxes from profit to the amount of balance profit) in the form of a decimal fraction;

LC — the average annual amount of loan capital;

EqC — the average annual amount of equity capital;

EFL reflects how much the profitability of equity capital will increase through the use of borrowed funds in the company’s turnover.

The positive effect of the financial lever arises when the profitability of aggregate capital exceeds the weighted average price of borrowed resources, i.е. If ROA > WAP. The difference between the return on total capital and the cost of borrowed funds will increase the return on equity. Under these conditions, it is advantageous for the enterprise to increase the leverage of the financial lever, i.е. share of loan capital. If there is a negative EFL, then there will be a «consumption» of equity capital, which may be the cause of bankruptcy.



As a result of the study, the following conclusions can be drawn.

The analysis of the financial condition shows, in what specific areas it is necessary to conduct this work. In accordance with this, the results of the analysis give an answer to the question of what are the most important ways to improve the financial state of an enterprise in a particular period of its activity.

The financial condition is understood as the ability of an enterprise to finance its activities. It is characterized by the availability of financial resources necessary for the normal functioning of the enterprise, the appropriateness of their deployment and the effectiveness of use, financial relationships with other legal and physical persons, solvency and financial stability.

The purpose of the analysis of the financial condition of the enterprise is to evaluate the main indicators reflecting the overall assessment of property and sources of its formation, liquidity of the balance sheet, solvency, financial stability, business activity of the enterprise, analyzing them, identifying and solving problems aimed at economic growth and sustainable development of the enterprise.

The financial condition of an enterprise depends on the results of its production, commercial and financial activities. If the production and financial plans are successfully implemented, this positively affects the financial position of the enterprise. And, on the contrary, as a result of the shortfall of the plan for the production and sale of products, there is an increase in its cost, a reduction in revenue and profit, and as a consequence — a deterioration in the financial condition of the enterprise and its solvency.

San-Techno LLC is engaged in construction, paring and repair, design, supply of construction materials and equipment, construction expertise. As a result of the analysis of the financial condition in San-Techno LLC, the following conclusions can be drawn.

Analysis of financial stability by absolute indicators showed that the financial stability of San-Techno LLC can be described as «Absolute financial stability», since the company has its own funds for the formation of reserves and costs.

At the same time, the share of accounts receivable in total assets in San-Techno LLC is quite high. If the standard is not higher than 0.4, at the end of the period under review, 87% of the current assets of the organization were short-term receivables. Therefore, San-Techno LLC conducts inefficient work with debtors.

To improve the financial stability of OOO San-Techno, it was proposed:

  1. Regulation of receivables management

As a result of the calculations it was shown that the profit of OOO San-Techno will increase by 1,558,550 rubles; The funds will be released in the amount of 149905.5 thousand rubles, the length of the turnover of receivables will be reduced by 87.2 days.

  1. The use of factoring to manage receivables

The positive value of factoring is a significant improvement in the financial condition of the enterprise. On account of cash increase in 2014, the absolute liquidity ratio will be approximately 6 times greater and will be 0.07 versus 0.015 in 2013, which is evidence of an increase in the company’s solvency.

The proposed methodology is quite universal to ensure the growth of financial stability of the enterprise. But before it is applied, it is necessary to conduct a financial analysis of the enterprise in order to produce unsatisfactory indicators.



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Appendix 1

Appendix 2

Analysis of the dynamics and structure of the liability of the balance sheet of  San-Techno LLC

Анализ динамики и структуры пассива бухгалтерского баланса ООО «Сан-Техно»

ПАССИВ 2012 2013 2014 Изменение, +/- Темп прироста, % Изменение структуры
III. КАПИТАЛ И РЕЗЕРВЫ Тыс. руб. % % Тыс. руб. %
Уставный капитал 1 000,0 0,1 1 000,0 0,1 1 000,0 0,1 0,0 0,0 -0,1
Нераспределенная прибыль (непокрытый убыток) 182 808,0 21,1 162 419,0 14,8 276 907,0 16,8 94 129,0 51,5 -4,3
Итого по разделу III 183 812,0 21,2 163 420,0 14,8 277 908,0 16,9 94 129,0 51,2 -4,4
Отложенные налоговые обязательства 49,0 0,0 61,0 0,0 140,0 0,0 71,0 144,9 0,0
Итого по разделу IV 49,0 0,0 61,0 0,0 140,0 0,0 71,0 144,9 0,0
Займы и кредиты 35 000,0 4,0 0,0 0,0 150 000,0 9,1 135 000,0 328,6 5,1
Кредиторская задолженность, в том числе: 646 751,0 74,7 1 129 402,0 87,2 1 212 859,0 73,5 564 128,0 87,2 -1,2
Прочие обязательства 0,0 0,0 0,0 0,0 8 000,0 0,5 8 000,0 0,0 0,5
Итого по разделу V 681 751,0 78,8 1 129 402,0 87,2 1 368 859,0 83,1 687 128,0 120,8 4,4
БАЛАНС 865 612,0 120,0 1 272 883,0 120,0 1 646 887,0 120,0 781 278,0 90,3 0,0


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