Introduction

1. Methodological issues financial stability industrial enterprises

1.1 The concept and content of financial stability

1.2 Types of financial stability of the enterprise

1.3 Methods for assessing the financial stability of an enterprise

2. JSC "KATEK", its characteristics and analysis of work

2.1 general characteristics enterprises

2.1.1. History of the establishment of the enterprise

2.1.2 Organizational structure enterprises

2.1.3 Characteristics of products and the boundaries of its distribution

2.2 Analysis of the technical and economic indicators of OJSC KATEK for 2006–2008

2.2.1 Analysis of the volume of production

2.2.2 Product cost analysis

2.2.3 Profit and profitability analysis

2.2.4 Analysis of the composition and structure of the property of JSC "KATEK"

2.2.5 Analysis of the sources of formation of property of JSC "KATEK"

2.2.6Analysis of the solvency of JSC "KATEK"

2.2.7 Financial stability analysis

3 Main measures to improve the financial stability of the enterprise

3.1 State mechanism for ensuring the financial stability of JSC "KATEK"

3.2 Release new products as one of the factors for increasing the financial stability of the enterprise

3.2.1 Definition target market

3.2.2 Communication policy

3.2.3 Price, commodity policy and distribution policy

3.2.4 Expected results from the production of new types of products

3.3 Implementation of the target-costing system in the work of JSC "KATEK"

3.4 Management organization foreign economic activity enterprises

3.5 Evaluation of the effectiveness of the use of borrowed capital

3.6 Design and technological directions for improving new types of products

3.6.1KRU Compact basic information

3.6.2 Design features

3.6.3 Design description

Conclusion

Literature

Introduction

The main thing in the conditions of the global financial crisis, the guarantee of survival and the basis for the stable position of the enterprise is its financial stability. The definition of financial stability, the most important features of which are solvency and the availability of resources for development, is one of the most important not only financial, but also general economic problems. After all, insufficient financial stability can lead to the insolvency of enterprises, to the lack of Money to finance current and investment activities, and if the financial condition worsens, it can lead to bankruptcy, and excessive one puts obstacles in the way of development of enterprises, burdening their costs with excessive stocks and reserves, which determines the relevance of the issue under consideration.

The assessment of financial stability and solvency is also the main element of the analysis of the financial condition, necessary for control, allowing to assess the risk of violation of obligations under the company's settlements.

The object of the study was the enterprise JSC "KATEK" - an enterprise that produces high-quality power equipment for medium and low voltage of full factory readiness.

The subject of the study is financial condition enterprises in terms of financial stability, which in market conditions is the key to survival and the basis for the stable position of the enterprise. If an enterprise is financially stable and solvent, then it has a number of advantages over other enterprises of the same profile in obtaining loans, attracting investments, in choosing suppliers and in selecting qualified personnel. The higher the stability of the enterprise, the more it is regardless of an unexpected change. market conditions and, consequently, the less the risk of being on the verge of bankruptcy. The assessment of financial stability and solvency is also the main element of the analysis of the financial condition, necessary for control, allowing to assess the risk of violation of obligations under the company's settlements.

The long-term policy of JSC "KATEK" is focused on expanding business connections with a flexible response to changing conditions and characteristics of demand, cooperation in the development of advanced types of power equipment, a combined approach to combining the capabilities of internal production reserves and the needs of customers in the new market conditions of economic activity.

These circumstances influenced the choice of the topic of work, the purpose of which is to identify the stock of sources of own funds and develop measures to improve their management. The task of the work is: to reveal the economic content and essence of the concept of financial stability; to study information about the characteristics of OAO "KATEK", to analyze the main technical and economic indicators; determine the availability of sources of funds for the formation of reserves and costs using a three-component indicator; assess the financial stability of an enterprise using the coefficients of financial risk, debt, autonomy, financial stability, agility, stability of the structure of mobile funds, provision of working capital with own sources, and develop a model for optimizing the financial stability of an enterprise. Assessment of the state of financial stability of JSC "KATEK" is carried out on the basis of financial reporting enterprises for three years: 2006–2008

There are many methods for assessing the financial stability of an enterprise. For JSC "KATEK", according to the author, the method of Sheremet A.D. is most suitable. and Saifulin R.S., as well as the development of Kovalev V.V. The methodology used is intended to ensure the management of the financial condition of the enterprise and the assessment of financial stability in a market economy.

And analysis of receivables; - create a reserve for doubtful debts; - increase the profitability of products through the release of a new type of product. 3 Measures aimed at improving the financial stability of the enterprise Energoremont LLC 3.1 The policy of accelerating settlements To improve the financial condition of the enterprise, it is necessary to clearly control and manage the accounts receivable ...

Works and services. Financial stability is formed in the process of all production and economic activities and is the main component of the overall sustainability of the enterprise. A general assessment of the financial stability of an enterprise is based on a whole system of indicators that characterize the structure of the sources of capital formation for its placement, the balance between the assets of the enterprise and their sources ...

1.8 Ways to improve financial sustainability

As shown above, the financial stability of an enterprise is directly affected by a limited range of funds - equity, stocks and costs, fixed and borrowed funds. Knowing the impact of these funds on financial stability, we can outline a number of strategies to improve it.

Reduce excess inventory and costs. This reduction is achieved by selling off the remaining goods and finished products, the sale of part of the work in progress as spare parts to repair and maintenance services, the liquidation of excess inventories. The amount of inventory and cost reduction ∆Z depends on the type of sustainability desired. If it is necessary to avoid bankruptcy and move at least into an unstable financial position, then the third stability condition should be met: Es - Z ≥ 0. Taking into account the decrease in inventories and costs by AZ, this inequality will look like this: Es - (Z-∆ Z) ≥ 0, whence we obtain ∆Z ≥ Z - Es. To ensure normal stability, it will be necessary to fulfill the second stability condition: Ет - Z ≥ 0. Taking into account the decrease in reserves and costs by the value of ∆Z, this inequality will look like this: Ет- (Z - ∆Z) ≥ 0. In this case, the volume of reserves and costs must be reduced by ∆Z ≥ Z-Et. If an enterprise is not creditworthy, then it should only move to absolute financial stability, since only the availability of borrowed funds can ensure normal stability and unstable financial position. Therefore, it is necessary to fulfill the first stability condition: Ес – Z ≥0. Taking into account the decrease in reserves and costs by the value ∆Z, this inequality will look like this: Ес- (Z- ∆Z) > 0. In this case, the volume of reserves and costs must be reduced by the value ∆Z > Z - Ес. The data obtained should be compared with the capabilities of the enterprise, taking into account the severity of the current situation. But in any case, it is necessary to realize excess reserves and costs not only to increase financial stability, but also to return these funds to circulation.

The advantage of this method of increasing resilience is its simplicity, both organizationally and technical terms. And the disadvantage may be the fact that the company does not have a sufficient number of fast-selling stocks or it has problems with their sale.

Use of borrowed funds. If the enterprise is creditworthy, then in order to avoid bankruptcy, it is necessary to fulfill the third condition of stability - at the expense of short-term loans and borrowings. In this case, the third inequality will look like this: Es + ∆kt - Z ≥ 0, and an additional loan in the amount of ∆kt = Z - Es is needed to increase stability. Short-term borrowings can only provide an enterprise with an unstable financial position, and an additional long-term loan is needed to ensure normal stability. Its size can be determined through the second stability condition: Ет + ∆Кт – Z ≥ 0, whence ∆Кт = Z- Ет. Attracting borrowed funds, in contrast to the sale of reserves and costs, is limited by a number of conditions. The company must be creditworthy, have a good credit history, a satisfactory balance sheet structure in terms of the ratio of borrowed and own funds. In addition, credits and loans must be profitable for the enterprise, and this will be only if the return on total capital exceeds the interest rate on credits and loans. The best option would be to obtain long-term loans and loans at an acceptable interest rate.

Increase equity. Such a strategy provides an increase in financial stability due to the resulting increase in own working capital. Since own working capital is the difference between equity and fixed assets Ес = Ks - F, then a change in equity ∆KS leads to a change in own working capital by ∆EC - ∆KS (provided that fixed assets have not changed) . Then the first condition for the financial stability of the enterprise has the form Ес + ∆KS - Z ≥ 0, a ∆KS = Z - Ес, while ensuring the absolute financial stability of the enterprise. In case of insolvency of the enterprise or the practical absence of excessive reserves and costs (for example, for an energy company), this is the only way improving financial stability.

The disadvantage of this method is the length and complexity of the process of increasing equity capital to the required size. Therefore, the increase in equity capital is most likely a strategic, rather than tactical, task of the enterprise. In fact, an increase in equity capital through an additional issue of shares must be approved at a meeting of shareholders by a qualified majority, prospectuses for the issuance of shares must also be developed and approved, and a placement of shares must be organized. Obtaining targeted financing from budgets different levels requires the enterprise to participate in any national, regional or local development programs.

An integrated method for improving financial stability. Attention should be paid to the fact that regardless of the method used to improve stability, the required sums for each type of stability are the same: (Z-Es) to reach an unstable position, (Z-Et) for normal stability and (Z-Ec) for absolute. Therefore, these sums can be obtained as a result of using several methods. AT general view it can be expressed like this:

∆Z+ ∆kt + ∆Kt + ∆KS ≥ Z- Es,

∆Z+ ∆Kt+ ∆KS ≥ Z- Et,

∆Z+ ∆Кs ≥ Z- Еc,

respectively, for an unstable financial situation, normal and absolute stability. An integrated method for improving the financial stability of an enterprise is the most optimal, since it summarizes the advantages of the individual methods discussed above, while their shortcomings are stopped or mitigated.

Chapter 2. Characteristics of the enterprise

To be one of the main tasks of the management of the economy at this stage, otherwise it is threatened with bankruptcy. 2. Analysis of solvency and financial reliability of the enterprise. 2.1 The value and objectives of the solvency and financial reliability of the enterprise. Financial analysis is an essential element financial management and audit, Virtually all users of financial statements...

Qualitative and quantitative assessment of their impact on the financial stability of the enterprise. 3) Acceptance management decisions in order to increase the financial stability and solvency of the enterprise. An analysis of the financial stability of an enterprise allows answering two questions: how independent is the organization from a financial point of view? and whether the financial position of the organization...

Ways to improve the financial stability of OJSC Krasnodarkraigas

When assessing the financial stability of the enterprise, a lack of equity was revealed, therefore, it is required to increase it.

But the assessment of financial stability based on absolute indicators revealed that the analyzed organization has an unstable financial situation and it is necessary to increase financial stability.

To improve financial stability, the company needs to reduce the level of stocks, as the company has a significant outflow of cash associated with the costs of forming and storing stocks.

The enterprise needs to find out the reason for the accumulation of excess stocks, to find a "golden mean" between excessively large stocks that can cause financial difficulties (lack of funds), and excessively small stocks that are dangerous for the stability of production.

This requires a well-established system of control and analysis of the state of stocks.

The main objectives of control and analysis of the state of stocks can be the following:

• - ensuring and maintaining liquidity and current solvency;
• - reduction of costs for storage of stocks;
• - prevention of damage, theft and uncontrolled use of material assets.

Achieving the goals set involves the following accounting and analytical work:

1. Evaluation of the rationality of the structure of reserves, which makes it possible to identify resources, the volume of which is clearly excessive, and resources, the acquisition of which needs to be accelerated.

This will avoid unnecessary investment of capital in materials, the need for which is reduced or cannot be determined. It is equally important in assessing the rationality of the structure of stocks to establish the volume and composition of spoiled and slow-moving materials.

This ensures that inventories are maintained in the most liquid state and that funds immobilized in inventories are reduced.

2. Determining the timing and volume of purchases of material assets. This is one of the most important and difficult tasks.

The approach to determining the volume of purchases allows you to take into account the following:

• - the average consumption of materials during the production and commercial cycle (determined based on the results of the analysis of consumption material resources in previous periods and the volume of production under the conditions of the intended sale);
• - an additional amount (safety stock) of resources to compensate for unforeseen expenses of materials or an increase in the period required to form the necessary stocks.
• 3. Selective regulation of stocks of material assets, suggesting that attention should be focused on expensive materials or materials that have high consumer appeal.
• 4. Calculation of indicators of turnover of the main groups of stocks and their comparison with similar indicators of previous periods in order to establish the compliance of the availability of stocks with the current needs of the enterprise.

As the analysis showed, the lack of own working capital at the enterprise is explained by the predominant investment of own funds in non-current assets.

Accounts payable prevails in the structure of borrowed capital of the enterprise. The company needs to reduce its involvement.

You can pay off debts by restructuring accounts payable, restructuring taxes, and increasing the turnover of accounts receivable.

There is also a significant increase in receivables. An enterprise can use factoring to improve its financial position, that is, an assignment to a bank or a factoring company of the right to claim receivables, or an assignment agreement under which an enterprise assigns its claim to debtors to a bank as security for repayment of a loan.

Great help in identifying reserves to improve the financial condition of the enterprise can be provided marketing analysis to improve supply and demand, sales markets and the formation of an optimal assortment on this basis.

One of the main and most radical directions of the financial recovery of an enterprise is the search for internal reserves to increase profitability and achieve break-even work by improving the quality and competitiveness of products, rational use material, labor and financial resources, reduction of unproductive costs and losses.

For a systematic identification and generalization of all types of losses, it is advisable for an enterprise to maintain a special register of losses with their classification into certain groups:

• - from marriage;
• - decrease in product quality;
• - unclaimed products;
• - loss of profitable customers, profitable markets;
• - incomplete use of the production capacity of the enterprise;
• - downtime of labor force, means of labor, objects of labor and financial resources;
• - damage and shortage of materials, finished products;
• - write-off of not fully depreciated fixed assets;
• - payment of penalties for violation of contractual discipline;
• - writing off unclaimed receivables;
• - attraction of unfavorable sources of financing;
• - untimely commissioning of capital construction facilities;
• - natural Disasters;
• - for industries that did not produce products, etc.

An analysis of the dynamics of these losses and the development of measures to eliminate them will significantly improve the financial condition of the enterprise.

The complexity of the current situation in enterprise management lies in the fact that in many organizations the employees of the accounting service do not know the methods financial analysis, and the specialists who own them, as a rule, do not always know how to read documents of analytical and synthetic accounting. Hence the inability to determine the range of basic tasks, the solution of which is necessary for the formation of an enterprise financial management system adequate to market conditions, as well as ways and means of solving them.

In accordance with Order No. 118, the purpose of developing the financial policy of an enterprise is to build an effective financial management system aimed at achieving the strategic and tactical goals of its activities.

It is known that in today's conditions, most enterprises are characterized by a reactive form of financial management, that is, the adoption of managerial decisions as a reaction to current problems, or the so-called "patching holes".

One of the tasks of the enterprise reform is the transition to financial management based on an analysis of the financial and economic state, taking into account the setting of strategic goals for the organization's activities. The performance of any enterprise is of interest to both external market agents (primarily investors, creditors, shareholders, consumers) and internal (enterprise managers, employees of administrative and managerial structural divisions). .

The key to the survival and basic stability of the enterprise is its sustainability.

The stability of the enterprise is influenced by various factors:

position of the enterprise in the commodity market;

production of products in demand;

its potential in business cooperation;

the degree of dependence on external creditors and investors;

existence of insolvent debtors.

The highest form of enterprise sustainability is its ability to develop in conditions of unstable internal and external environment. To do this, the company must have a flexible structure of financial resources and, if necessary, be able to attract borrowed funds, that is, be creditworthy.

Funds additionally mobilized in the loan capital market also have a great influence on financial stability. The more money an enterprise can attract, the higher its financial capabilities, but the more financial risk- whether the enterprise will be able to pay off its creditors in a timely manner.

There are three fundamental types of credit policy of the enterprise in relation to the buyers of products - conservative, moderate and aggressive.

The conservative (or strict) type of credit policy of the enterprise is aimed at minimizing credit risk. Such minimization is considered as a priority goal in the implementation of its lending activities. By implementing this type of credit policy, the company does not seek to obtain high additional profits by expanding the volume of sales.

The mechanism for implementing this type of policy is a significant reduction in the circle of buyers of products on credit due to high-risk groups; minimizing the terms of the loan and its size; tightening the conditions for granting a loan and increasing its cost; the use of strict procedures for the collection of receivables.

The moderate type of credit policy of the enterprise characterizes the typical conditions for its implementation in accordance with the accepted commercial and financial practice and focuses on average level credit risk when selling products with deferred payment.

Aggressive (or soft) type of credit policy of the enterprise, the priority goal of credit activity is to maximize additional profit by expanding the volume of sales of products on credit, regardless of the high level of credit risk that accompanies these operations.

The mechanism for implementing this type of policy is to extend credit to more risky groups of product buyers; increase in the period of the loan and its size; reducing the cost of credit to the minimum allowable size; providing customers with the possibility of prolonging the loan.

When determining the type of credit policy, it should be borne in mind that its rigid (conservative) version negatively affects the growth of the volume operating activities enterprises and the formation of stable commercial relations, while its mild (aggressive) version can cause excessive diversion of financial resources, reduce the level of solvency of the enterprise, subsequently cause significant debt collection costs, and ultimately reduce profitability current assets and capital used.

diploma

Finance and credit relations

1 Theoretical and methodological foundations for analyzing the financial stability and solvency of an enterprise 1.1 The concept and essence of the financial stability of an enterprise.3 Methodological foundations for analyzing financial stability and solvency 2 Analysis of the financial stability and solvency of an enterprise using the example of JSC Deka. At the same time, the increase in the importance of finance and the promotion of the role of the financial aspects of the enterprise's activities to the fore in modern society this is...

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