Profit planning is component financial planning and an important area of ​​financial and economic work in a tourism enterprise. Separately for all activities of the tourist organization, profit planning is carried out. Not only does this make planning easier, but it also matters for the expected amount of income tax, since some activities are not subject to income tax, while others are taxed at higher rates. In the process of developing profit plans, it is important not only to take into account all the factors that affect the magnitude of possible financial results, but also providing maximum profit.

The object of planning is the planned elements of balance sheet profit, mainly profit from the provision of tourist services. The basis for the calculation is the volume production program, which is based on consumer orders and business contracts.

Profit is planned separately by type, namely:

Profit from the provision of tourist services;

Profit from the sale of other services;

Profit from the sale of fixed assets;

Profit from the sale of other property and property rights;

Profit from payment for services rendered, etc.;

Profit (loss) from non-sales operations.

The main methods of profit planning are:

Direct count method;

Analytical method;

Method of combined calculation.

Direct Count Method

It is used, as a rule, with a small range of services offered. Its essence is that profit is calculated as the difference between the proceeds from the services rendered in the relevant prices, excluding VAT and excises, and its full cost. The calculation of the planned profit (P) is carried out according to the formula:

P \u003d (O? C) - (O? C) (1.5),

where O is the volume of sales of tourist services in the planning period in in kind;

C -- price per unit of service (net of VAT and excises);

C is the total cost per unit of service.

Profit from the provision of services (PO) is planned on the basis of the cost estimate for the formation and implementation of tourist services, which determines the cost of the sale of services for the planned period:

Pou = Tsru - Sru (1.6),

where Tsru is the cost of selling services for the planned period at current selling prices (excluding VAT, excises, trade and sales discounts);

Sru -- the full cost of the implementation of tourist services of the planned period.

Profit on services sold (Pru) in general view calculated by the formula:

Pru = I lie - Cru (1.7),

where Vru is the planned revenue from the sale of tourist services in current prices (excluding VAT, excises, trade and marketing discounts);

Сру - the full cost of services sold in the coming period.

In more detail, the profit from the volume of tourism services sold in the planned period is determined by the formula:

Pru \u003d Pon + Ptp - Pok (1.8),

where Mon is the sum of the profit of the balances of unsold tourist services at the beginning of the planning period;

Pru -- profit from the volume of services sold in the planning period;

So far - profit from the balance of unsold tourist services at the end of the planning period.

This calculation method is applicable to the enlarged direct method of profit planning, when it is easy to determine the volume of tourism services sold in prices and at cost.

Analytical method

This method is used with a large range of services offered, and also as an addition to the direct method, as it allows you to identify the influence of individual factors on the planned profit. With the analytical method, profit is calculated not for each type of service offered in the planned year, but for all services as a whole. Profit on incomparable services is determined separately. The calculation of profit by the analytical method includes three successive stages:

1) the definition of basic profitability as a private division of the expected profit for the reporting year by the full cost of comparable services for the same period;

2) calculation of the volume of marketable products in the planning period at the cost of the reporting year and determination of profit for the provision of tourist services based on the basic profitability;

3) taking into account the impact on the planned profit of various factors: reducing the cost of comparable tourist services, improving its quality, changing the range, prices, etc.

After performing the calculations for all three stages, the profit from the services rendered is determined.

In addition to the profit from the rendered tourist services, as noted earlier, profit from the provision of other services, profit from the sale of fixed assets and other property, as well as planned non-operating income and expenses are taken into account.

Profit from other sales is planned using the direct counting method. The result from other implementation can be both positive and negative.

Profit (loss) from traditional items of non-operating income and expenses (fines, penalties, forfeits, etc.) is determined, as a rule, based on the experience of past years.

After calculating the profit (loss) for other types of activities, as well as non-operating income and expenses, and taking into account the profit from the provided tourist services, the gross (total) profit of the tourist enterprise is determined.

Combined calculation method

In this case, elements of the first and second methods are applied. Thus, the cost of providing tourist services in the prices of the planned year and at the cost of the reporting year is determined by the direct calculation method, and the impact on the planned profit of such factors as changes in cost, quality improvement, changes in assortment, prices, etc., is identified using the analytical method.

Receiving a certain amount of profit determines the efficiency of the provision of services, but the amount of profit itself does not characterize how efficiently the tourism enterprise works. To do this, it is necessary to "weigh" the mass of profits against the costs of the tourist enterprise. These goals are met by the indicator of profitability. profitability is relative indicator efficiency of service delivery, which characterizes the level of return on costs and the degree of use of resources, expressed as a percentage. The basis for constructing profitability ratios is the ratio of profit (most often, net profit is included in the calculation of profitability indicators) either to the funds spent, or to sales proceeds, or to the assets of the enterprise. Thus, the profitability ratios show the degree of efficiency of the tourist enterprise.

The order of distribution of a tourist organization is largely determined by its organizational and legal form. At the same time, the main requirement that is presented today to the system of distribution of profits remaining in the organization is that it must provide financial resources for the needs of expanded reproduction on the basis of establishing an optimal ratio between funds allocated for consumption and accumulation.

When distributing profits, i.e. determining the main directions of its use, first of all, the state of the competitive environment is taken into account, which may dictate the need for a significant expansion and renewal of the production potential of the tourist organization. In accordance with this, the scale of deductions from profits to the production development fund is determined, the resources of which are intended to finance capital investments, increase working capital, ensuring research activities, introducing new technologies, switching to progressive labor methods, etc.

The general scheme for the distribution of profits of a tourist organization can be represented by an equation of the following form:

Pch = Fr + Fn + Fp (1.9),

where Fr - reserve fund (rubles), intended to cover unforeseen losses caused by natural disasters and balance sheet losses. The formation of reserve funds in enterprises of various organizational and legal forms has some differences. Thus, the size of the reserve fund of a joint-stock company must comply with the constituent documents and be at least 15% of the authorized capital. It is in these amounts that the taxable profit of the joint-stock company decreases.

Fn - the accumulation fund (rubles), formed at the expense of profit, is used to expand the tourism business. The funds of the fund are spent on the acquisition and construction of buildings, structures, equipment and technologies, and other expenses are predominantly repayable: funds invested in fixed capital lead to an increase in the value of the property of a tourist organization.

Фп - consumption fund (rubles), used to finance social needs and material incentives for employees: payment of bonuses not related to performance indicators (for long-term work, in connection with the anniversary, etc.); provision of material assistance; payment for vouchers, treatment, medicines for employees and their family members; payment of dividends, etc. Fund expenses are non-refundable.

There is a simpler option for using net profit - without the formation of planned accumulation and consumption funds. However, in large tourism organizations, their presence helps to rationally allocate funds and monitor their effective use. It is important to note that each tourist organization independently distributes net profit, taking into account the internal business policy. The market strategy of the company determines the directions of expenses of the profit remaining at the disposal of the enterprise, as well as the structure of the articles of its use. The procedure for the distribution and use of profits of a tourist organization is fixed in its charter and is determined by the regulation, which is developed by the relevant departments of economic and financial services and approved by the governing body of the tourism organization.

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MINISTRY OF EDUCATION AND SCIENCE OF THE RUSSIAN FEDERATION

Federal Agency for Education

State educational institution higher vocational education

All-Russian Correspondence Institute of Finance and Economics

VZFEI branch in Barnaul

Department of Finance and Credit

COURSE WORK

by discipline « FINANCE OF ORGANIZATIONS»

"Planning and distribution of profits"

(topic 2, estimate I, option 2)

Barnaul 2010

Introduction …………………………………………………………..………….…..3

Chapter 1. Profit and its role in a market economy …………………………4

1.1. Economic content, functions and types of profit ………..… 4

1.2. Factors affecting the amount of profit………………………….8

1.3. The role of profit in a market economy ………………………..…....11

Chapter 2. Methods of profit planning ……………………………….…… 13

2.1. The essence of profit planning…………………………………..13

2.2. Profit planning methods ……………………………….….15

Chapter 3. Distribution and use of profits in the enterprise ………… 21

3.1. Essence and directions of profit distribution ………………… 21

3.2. Factors affecting the distribution of profits.……………...… 26

3.3. Profit distribution on the example of OJSC “Barnaulskaya Gorelektroset”……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

Conclusion ……………………………..…………..……………………….....33

References ……………………………….…………..……….…………..35

Settlement part ……………………………..…………………………………….37

Applications

Introduction

The main goal of any commercial organization is to make a profit, as well as the desire of an economic entity not only to maintain, but also to expand its participation in the market. In the conditions of market relations, the enterprise should strive to obtain maximum profit. Therefore, one of the urgent tasks of the current stage is the management of the formation of profits in the course of the activities of enterprises. Competent, effective profit management involves the use of modern methods its analysis and planning. Along with the formation of profits, each enterprise must ensure the effective management of its distribution and use. The distribution of profits realizes the main goal - increasing the level of well-being of the owners of the enterprise.

The purpose of this course work is to study the planning and distribution of profits. To achieve this goal, it is necessary to solve the following tasks: to consider the economic essence of profit, its role in the economy, to identify factors affecting its value, to study methods of profit planning and the process of its distribution and use in the enterprise, to draw conclusions.

The subject of the study is the profit of enterprises, and the object is the planning and distribution of profits.

The course work consists of this introduction, three parts of the main text, the calculation part, the conclusion and the list of references. In the first part of the work, the essence and role of profit are considered. In the second part of the course work studied methods of profit planning. In the third part, the directions of profit distribution are considered. In conclusion, the main conclusions about the work done are given. When writing the work, official state documents, various educational and methodical literature listed in the bibliography.
Chapter 1. Profit and its role in a market economy

1.1. Economic content, functions and types of profit

Profit is the simplest and at the same time the most complex category of the market economy. It is the core and main driving force of the economy. market type, the main motive for the activities of entrepreneurs.

Profit is a form of income for an entrepreneur who has invested his capital in order to achieve a certain commercial success. The category of profit is inextricably linked with the category of capital - a special factor of production - and in an average form characterizes the price of functioning capital. Profit is not a guaranteed income of an entrepreneur who has invested his capital in a particular type of business. It is the result of only the skillful and successful implementation of this business. But in the process of doing business, an entrepreneur, due to his unsuccessful actions or objective reasons of an external nature, can not only lose the expected profit, but also completely or partially lose the invested capital. Therefore, profit is to a certain extent also a payment for the risk of implementation. entrepreneurial activity.

Profit is a cost indicator, expressed in monetary terms. This form of profit assessment is associated with the practice of generalized cost accounting of all the main indicators associated with it - invested capital, income received, costs incurred, etc., as well as with the current procedure for its tax regulation.

Taking into account the considered main characteristics of profit, its concept in the most generalized form can be formulated as follows: Profit is the entrepreneur’s net income on invested capital, expressed in cash, characterizing his reward for the risk of doing business, which is the difference between total income and total costs in the course of this activity.

Table 1 shows the dynamics of the financial result of organizations (excluding small businesses) by Russian Federation for the period 207-2009 .

Table 1

Dynamics of financial results of organizations

(excluding small businesses) in the Russian Federation

(billion rubles according to financial statements)

profit functions. The economic content of profit is manifested in its functions . Profit, as the most important category of market relations, performs a number of important functions.

1. Profit - an indicator of the effectiveness of the enterprise. In a market economy, capital investment in an enterprise is accompanied by a certain assessment of the effectiveness of its functioning. At all times, profit has been a sign of effective management of the human, material, financial and other resources at the disposal of the company. Ultimately, the financial resources of the activities of enterprises are the basis of the gross domestic product of the state and reflect the efficiency of the country's economy.

2. stimulating function. The content of the incentive function of profit is that profit is both a financial result and the main source of its own financial resources enterprises, that is, the actual provision of the principle of self-financing is determined by the profit received. Due to the share of net profit remaining at the disposal of the enterprise after paying taxes and other obligatory payments, financing is carried out to expand production activities, scientific, technical and social development of enterprises, financial incentives workers.

3. Profit is a source of formation of budget revenues. Profits come to budgets in the form of taxes, as well as economic sanctions, and are used for various purposes, determined by the expenditure side of the budget and approved by law.

Types of profit. AT Russian practice there are several types of income. Let's consider in more detail certain types profits of the enterprise in accordance with its classification according to the main features.

1. According to the nature of the activity, enterprises divide the profit from ordinary activities and the profit from extraordinary events. Profit from ordinary activities characterizes the financial result from all traditional for this enterprise types of activities and business transactions, formed on a regular basis. BUT income from extraordinary events characterizes an unusual or very rare source of its formation for a given enterprise.

2. According to the main types of business operations, enterprises allocate profit from the sale of products and profit from non-sales operations.

3. According to the main types of activity of the enterprise, they allocate profit received from operating, investment and financial activities.

Profit from operating activities represents the total amount of profit from the sale of products and profit from other operations that are not related to investment or financial activities.

Profit from investment activities characterizes the final financial result from operations for the acquisition (construction, manufacture) and sale of depreciable property - fixed assets, intangible assets and other non-current assets, as well as short-term financial investment, which are not equivalent Money.

Profit from financial activities characterizes the financial result of operations that lead to a change in the size and composition of the equity capital and loans of the enterprise (raising additional equity or share capital, issuing bonds and other debt valuable papers, attracting a loan in its various forms, repayment of obligations on the principal debt, etc.).

4. And, finally, according to the composition of the elements that form profit, there are marginal, balance sheet (gross, total) and net profit of the enterprise. These terms usually mean a different degree of "cleaning" of the net income received by the enterprise from the income incurred by it in the process. economic activity costs.

So, margin profit characterizes the amount of net income from operating activities (gross income of the enterprise from this activity, reduced by the amount of tax payments due to it) minus the amount of variable costs:

Pm \u003d V - Zper ,

where Zper - conditionally variable costs.

balance sheet profit is the amount of profit (loss) from the sale of products (works, services), fixed assets (including land), other property of the enterprise and income from other operations, reduced by the amount of expenses on these operations. In other words, profit from all types of business activities of the enterprise is included in the balance sheet profit (Pb):

where Ppr - profit from the sale of products, works, services;

Pr (act) - profit from the sale of other assets;

Dvnr and Rvnr - non-operating income and expenses, respectively.

Balance sheet income is also called profit before tax.

Net profit- this is a part of the balance sheet profit remaining at the disposal of the enterprise after paying taxes and other obligatory payments to the budget, including financial sanctions for violations of tax laws. Net profit is the only source of funds for the payment of dividends in joint-stock companies ah, as well as a source of funds for their distribution among the participants of the company with limited liability in proportion to shares in authorized capital. After paying taxes and paying dividends, the profit is subject to distribution in the enterprise. The profit remaining at the disposal of the enterprise is called retained earnings .

1.2 Factors affecting the amount of profit

external and internal.

To external factors include: prices for production resources, the conjuncture of the commodity and stock markets, the system of taxation of the enterprise, the established practice of lending to suppliers and buyers of products, transport conditions; socio-economic conditions; the level of development of foreign economic relations; and etc.

To internal include, firstly, the volume of sales, the cost of production, the structure of products and costs, the price of the enterprise's products, the life cycle, the duration of the operating cycle, the seasonality of production and sales of products, the system of the adopted accounting policy, the depreciation policy of the enterprise, the urgency of investment programs, the financial mentality of the owners and enterprise managers. Secondly, there are factors associated with violation of economic discipline (price violations, violations of working conditions and product quality requirements, leading to fines and economic sanctions).

In turn, internal factors are divided into production and non-production. outside factors of production are mainly related to commercial, environmental, claims and other similar activities of the enterprise, and production factors reflect the presence and use of the main elements production process involved in the formation of profits are the means of labor, objects of labor and labor itself.

For each of these elements, groups of extensive and intensive factors are distinguished. Extensive factors include factors that reflect the volume of production resources (for example, changes in the number of employees, the cost of fixed assets), their use over time (changes in working hours, equipment shift ratio, etc.), as well as non-productive use of resources (cost of materials for marriage , losses due to waste). Intensive factors include factors that reflect the efficiency of resource use or contribute to this (for example, advanced training of workers, equipment productivity, the introduction of advanced technologies).

An external group of factors plays in modern Russian conditions paramount role.

To the most important factors profit growth include: growth in production and sales; introduction of scientific and technical developments, and, consequently, an increase in labor productivity; cost reduction; improving product quality. In the conditions of the development of entrepreneurial activity, objective prerequisites for the real implementation of the above factors are created.

Practically outside the sphere of influence of the enterprise are market conditions, the level of prices for consumed material and raw materials and fuel and energy resources. To a certain extent, factors such as the level of prices for products sold and wage; the level of management, the competence of management and managers, the competitiveness of products, the organization of production and labor, its productivity, the state and efficiency of production and financial planning.

These factors affect profit not directly, but through the volume of products sold and the cost, therefore, in order to find out the final financial result, it is necessary to compare the cost of the volume of products sold and the cost of costs and resources used in production.

So, profit as the main form of cash savings is the difference between the proceeds from the sale at the appropriate prices and the full cost. Hence, the growth of profits depends primarily on the reduction of production costs, as well as on the increase in the volume of products sold.

1.3. The role of profit in a market economy

The profit of the enterprise is the main goal of entrepreneurial activity. The main motive for the implementation of any type of business, its main ultimate goal is to increase the welfare of the owners of the enterprise. A characteristic of this growth is the size of their current and deferred income on invested capital, the source of which is the profit received.

The profit of the enterprise creates the base economic development the state as a whole. The mechanism of redistribution of enterprise profits through the tax system makes it possible to "fill" the revenue part of the state budget of all levels (national and local). This gives the state the opportunity to successfully fulfill the functions assigned to it and implement the planned programs for the development of the economy.

The profit of the enterprise is a criterion for the effectiveness of a particular production activity. The individual level of profit of the enterprise in comparison with the industry characterizes the degree of ability (preparedness, experience, initiative) of managers to successfully carry out economic activities in a market economy. The industry average profit level of enterprises characterizes market and other external factors that determine the efficiency of production activities and is the main regulator of the "capital overflow" in the industry with its more efficient use.

Profit is the main internal source of formation of the financial resources of the enterprise, ensuring its development. In the system of internal sources of formation of resources, the dominant role belongs to profit. The higher the level of profit generation in the process of economic activity, the less the need of the enterprise to attract financial resources from external sources. Ceteris paribus - the higher the level of self-financing of its development, ensuring the implementation of the strategic goals of this development, increasing the competitive position of the enterprise in the market. At the same time, unlike some other internal sources of formation of the financial resources of an enterprise, profit is a constantly reproducible source and its reproduction in conditions of successful management is carried out on an expanded basis.

Profit is the main source of increasing the market value of the enterprise. The ability to self-increase the cost of capital is ensured by capitalizing part of the profit received by the enterprise, that is, its direction for the growth of its assets. The higher the amount and level of capitalization of the profit received by the enterprise, the more its value increases. net assets(assets formed at the expense of own capital), and, accordingly, the market value of the enterprise as a whole.

The profit of the enterprise is the most important source of meeting the social needs of society. social role profit is manifested, first of all, in the fact that the funds transferred to the budgets of different levels in the process of its taxation serve as a source for the implementation of various national and local social programs that ensure the "survival" of individual socially unprotected (or insufficiently protected) members of society. In addition, this role is manifested in the satisfaction of part of the social needs of the personnel at the expense of the profit received.

Profit is the main protective mechanism that protects the enterprise from the threat of bankruptcy. Although such a threat may also arise in the conditions of a profitable economic activity of an enterprise (when using an unreasonably high share of borrowed capital, especially short-term capital; with insufficient effective management liquidity of assets), but ceteris paribus, the company is much more successful out of crisis with high potential for generating profits. Due to the capitalization of the profits received, the share of highly liquid assets can be quickly increased (solvency restored), the share of equity capital can be increased with a corresponding decrease in the amount of borrowed funds used, and appropriate reserve financial funds have been formed.

Describing the role of profit in a market economy, it should be noted that, according to many economists, this role is not always positive, since certain types of profit serve only as a source of personal enrichment for certain categories of citizens, without benefiting society as a whole. This applies to such types of it as profits received from speculative commercial operations, from unjustifiably high prices in connection with the monopoly position in the market, from the "shadow" activities of enterprises and the like.

Chapter 2. Profit planning methods

2.1. Essence of profit planning

The most important role of profit, which increases with the development of entrepreneurship, determines the need for its correct calculation. The successful financial and economic activity of the enterprise will depend on how reliably the planned profit is determined.

Profit planning is an integral part of financial planning. It is carried out separately for all types of activities of the organization (enterprise). Separate planning is due to differences in the methodology for calculating and taxing profits from various kinds activities. In the process of developing financial plans, all factors affecting the amount of profit are taken into account, and financial results are modeled from the adoption of various management decisions.

In a stable developing economy, planning
profit is carried out for a period of three to five years. With relatively stable prices and predictable business conditions
current planning within one year is widespread. At
In an unstable economic and political situation, planning is possible for a short period - a quarter, half a year.

The object of planning is the elements of balance sheet profit, primarily profit from the sale of products, performance of work, and provision of services.

Profit planning uses all the parameters of a business plan
and is decisive in determining the financial result from the entire
enterprise activities. It is necessary to learn the connection between profit planning and the parameters of the production, economic and financial activities of the enterprise, to study the most significant relationships in the economy of the enterprise and understand their impact on profit. This will help you better understand the factors that affect profit growth.

The calculation of the planned profit must be economically justified, which will allow timely and full financing of investments, an increase in own working capital, appropriate payments to workers and employees, as well as timely settlements with the budget, banks and suppliers. Consequently, proper profit planning at enterprises is of key importance not only for entrepreneurs, but also for the national economy as a whole.

Profit is planned separately by type:

From the sale of marketable products;

From the sale of other non-commercial products and services;

From the sale of fixed assets and other property;

From non-operating income and expenses.

Profit planning is divided into: planning the profit itself and planning its use.

Planning can be used various coefficients:

Forecast of return on invested capital, where capital is defined as working capital + investment in fixed capital;

profitability ratio;

Profitability ratio - profit / working capital.

All of these ratios are associated with critical loss points.

In the West, many types of profit planning are used. They depend on the field of activity, capital-labor ratio, etc.

In Russia, there are several profit planning methods that can be used only taking into account the specifics of the enterprise. Most often applied following methods:

1. Method of direct counting.

2. Analytical method, which is divided into two:

Through the costs per ruble of manufactured (or sold) products;

According to the level of basic profitability.

3. Combined method - 1) + 2);

4. Regulatory method - when an enterprise produces 1 - 2 types of products;

5. Economic and mathematical method - at the level of large and largest enterprises.

6. Method based on the effect of production (operational) leverage.

7. Method based on budgeting.

2.2 Profit planning methods

Direct counting method: profit calculation is carried out for each type of sold products, for the entire range.

The method of direct counting is most common in enterprises in modern business conditions. It is used, as a rule, with a small assortment of products. Its essence lies in the fact that profit is calculated as the difference between the proceeds from the sale of products at the appropriate prices and its full cost, minus VAT and excises.

The calculation is carried out according to the formula:

,

where P- planned profit;

AT- release of marketable products in the planned period in kind

expression;

C- price per unit of production (net of VAT and excises);

With- the total cost of a unit of production.

The calculation of profit is preceded by determining the release of comparable and incomparable marketable products in the planned year at full cost and in prices, as well as the balance of finished products in the warehouse and goods shipped at the beginning and end of the planned year.

Calculation of profit by the direct account method is simple and accessible. However, it does not allow to identify the influence of individual factors on the planned profit and, with a large range of products, is very laborious.

Analytical method. The basic principle: when calculating profit, it increases or decreases in accordance with the increase in sales, taking into account lower costs, changes in prices, assortment. Usually, profit is planned for a certain period that has not yet arrived, therefore, calculations from the previous period are used.

Comparable products are produced in the base year that precedes the planned one, so its actual full cost and output are known. Based on these data, you can determine the basic profitability Po:

Ro \u003d (Po: Stp) * 100%

where Expected profit (calculation of profit is carried out at the end of the base year, when the exact amount of profit is not yet known);

Stp - the full cost of marketable products of the base year.

The calculation is carried out in a certain sequence.

1. With the help of basic profitability, the profit of the planned year is approximately calculated for the volume of marketable output of the planned year, but at the basic cost.

2. We calculate the change (+, -) in the cost of production in the planned year.

3. We determine the impact of changes in the range, quality, grade of products. Such calculations are performed in special tables based on planned data on the range of products, their quality, and grade.

4. After substantiating the price for finished products of the planned year, the effect of price increases (or decreases) is determined.

5. The impact on profit of all the above factors is summarized. Profit from the production of comparable products in the planned year is determined taking into account the profit calculated at stage 1 and subsequent stages.

The analytical method has the advantage that it shows the influence of various factors on the amount of profit, but this is manifested mainly only in the presence of stable business conditions.

combined method. It is used when the company produces comparable and incomparable products. On the first - analytical method, according to the second - the method of direct counting. If the combined method is applied only to comparable products, then this means that the analytical method is used as a comparative method for verification.

normative method. It is used if the enterprise has 1 - 2 types of products, or in the case when the enterprise has the opportunity to establish specific standards for spending funds (a budgeting system is applied), i.e. when the direct account method is combined with cost rates.

Economic-mathematical method. Used on large enterprises where there is a large regulatory and accounting base. At the first stage, standard analysis programs (factorial, correlation, index) are used. 15 - 30 indicators are introduced that affect profit. Their influence on the amount of profit is determined (the tightness of the relationship between profit and indicators, between the indicators themselves), the main factor is determined (as a rule, sales profit) and the influence of other factors on this indicator in total.

A method based on the effect of production (operational) leverage.

This method of profit planning is based on the principle of dividing costs into fixed and variable costs. With the help of these data marginal profit is calculated.

For commercial organizations(enterprises) it is very important to determine the threshold of cost recovery, after which they will start to make a profit. Here you need to use the method of operational (production) leverage. Using this method, one can establish a break-even point, i.e. the amount of revenue at which the organization (enterprise) will fully cover its costs, without receiving any profit or loss.

Fig.1 Determination of the break-even point.

An increase in sales in excess of the critical sales volume brings the company profit. The volume of sales below the critical brings the company losses. The break-even point theory is used to calculate leverage effect- change in profit with a change in the volume of sales. In order to evaluate the relationship between sales revenue, marginal profit and operating profit, the production leverage is calculated.
The production lever shows how much the profit from the main activity of the enterprise will change with a change in revenue by 1%. For example, a leverage value of 15% says that if the sales revenue changes by 1%, the company's profit will change by 15%.

With an increase in sales volumes, an enterprise with a high production leverage has the opportunity to increase profits at a higher rate than enterprises with low production lever. However, it must be remembered that the production lever, like any other lever, can operate in reverse side. With a decrease in sales volumes, the rate of profit decline will be higher for an enterprise with a high production leverage.

Thus, the greater the production lever, the higher the dependence of the enterprise (in terms of profit) on the volume of product sales.

The value of the production lever depends on the structure of current costs - the magnitude of variables and fixed costs in the cost of production. The more variable costs in the composition of costs (cost of goods sold), the lower the production leverage.

The management of the production lever consists in changing the cost structure - changing the share of variable and fixed costs.

Method based on budgeting.

On the basis of budgeting, computer-oriented models of financial profit planning are being developed. The profit planning algorithm is based on the phased preparation of initial data for financial planning. Here the interrelation of organizational, production and financial planning is carried out.

The first stage is organizational. At this stage, marketing research is carried out, the possibilities of production and marketing of products are studied. The process begins with the study of solvent demand. At the same time, an assessment of the production capacity of the enterprise is carried out. Of the two obtained values ​​- the volume of effective demand and the volume of production capacity - the smallest is selected, and the volume of sales is planned in physical terms. At the same time, a sales budget is formed, on the basis of which supply contracts are concluded and a portfolio of orders is formed.

The second stage is production planning. The purpose of this stage is the development of a production program. Here the quantity of production, its range, nomenclature, production time, equipment are determined. The volume of production is influenced by the remains of finished products in the warehouse, in goods shipped and in safekeeping with third parties.

The third stage - includes the planning of production costs. They consist of direct material and labor costs, as well as production overheads. These costs are calculated in the form of budgets. Production costs are affected by changes in work-in-progress, deferred and future expense account balances.

Fourth stage - planning profit from product sales. Profit is defined as the difference between the planned sales revenue and the total cost of production. In turn, the total cost consists of the production cost, administrative and selling expenses. Administrative costs are determined on the basis of the estimate and include the costs of managing and maintaining the production process. Selling expenses are associated with the process of selling products.

The fifth stage is the design of sales profit. The cumulative financial result consists of sales profit, operating and non-operating income minus operating and non-operating expenses.

The results of forecast calculations are transferred to the draft Profit and Loss Statement. Then a forecast balance can be formed and, finally, a financial plan.

Chapter 3. Distribution and use of profit in the enterprise

3.1. Essence and directions of profit distribution

Under distribution of profits is understood as the direction of profit to the budget and according to the items of use in the enterprise. The profit remaining at the disposal of the organization is used by it independently and directed to further development entrepreneurial activity. Making a profit, the enterprise solves the problems of its future use in accordance with the goals and objectives of development.

The distribution of profits is carried out in accordance with the developed policy, the formation of which is a rather difficult task. Profit distribution policy should reflect the requirements overall strategy development of the enterprise, ensure an increase in its market value, form the volume of investment resources, ensure the interests of owners and staff. The main goal of the profit distribution policy remaining at the disposal of the enterprise is to optimize the proportions between the capitalized and consumed parts of it. Based on this goal the following tasks are solved:

1. ensuring that the owners receive the required rate of return on invested capital;

2. ensuring priority goals strategic development enterprises at the expense of the capitalized part of the profit;

3. providing incentives for labor activity and additional social protection of personnel;

4. ensuring the formation of the required amount of reserve and other funds of the enterprise.

Given the fulfillment of these main tasks, the process of profit distribution is carried out on the following principles:

a) the connection of the distribution policy with the general task of managing the profit of the enterprise, tk. the distribution of profit of the reporting period is at the same time the process of ensuring the conditions for the formation of profit in the coming period;

b) the priority of taking into account the interests and mentality of the owners of the enterprise. The profit generated by the enterprise and remaining at its disposal after paying taxes belongs to its owners, therefore, in the process of its distribution, the priority of directions for its use is determined by them.

c) the stability of the profit distribution policy. The principles of profit distribution should be of a long-term nature, which is especially important when making investment decisions for large joint-stock companies with a large number of owners;

d) predictability of profit distribution policy. If it is necessary to change the main proportions of profit distribution in connection with the adjustment of the enterprise development strategy, or for other reasons, all investors must be notified in advance;

e) evaluation of the effectiveness of the developed profit distribution policy. The assessment is carried out using the main indicators - the profit capitalization ratio, the ratio of profit payments to owners (dividend payments), etc. .

In essence, the distribution of profits should be considered in three directions:

The profit is distributed between the state, the owners of the enterprise and the enterprise itself. The proportions of this distribution largely affect the efficiency of the enterprise, both positively and negatively.

The relationship between enterprises and the state regarding profits is built on the basis of profit taxation. Taxes have a significant impact on the formation of the financial results of the economic activity of the enterprise and on the amount of net profit used by the enterprise for the purposes of accumulation and consumption. Taxes paid by enterprises include federal taxes, taxes of constituent entities of the Russian Federation and local taxes. Taxes are calculated by referring them to various sources. In Russia, income tax for enterprises and organizations was introduced from January 1, 1992. The tax rate for income tax from January 1, 2009 is set at 20%, except for certain cases when other income tax rates apply. At the same time, one part of the tax, calculated at a rate of 2%, is credited to the federal budget. And the other part of the tax, calculated at a rate of 18%, is credited to the budgets of the constituent entities of the Russian Federation.

The distribution of profit remaining after taxes directly realizes the main goal of its management - increasing the level of well-being of the owners of the enterprise. It forms the proportions between the current payments of capital income to them (in the form of dividends, interest) and the growth of these incomes in the coming period (by ensuring the increase in invested capital). At the same time, the owners of the enterprise independently form these directions for satisfying their needs in time. The proportions of profit distribution determine the pace of implementation of the enterprise development strategy.

So, during the period of technical re-equipment and modernization of production, the development of new types of products and new technologies, the enterprise is in dire need of financial resources, and the owners should provide them first of all. This does not mean that they should give up their expectations and not receive a return on invested capital. These should be deferred expectations, and the owners will be able to receive their dividends after the production reaches its design capacity, when the enterprise begins to make a sufficient profit. Dividends for the waiting period should not be less than the interest rate on a bank deposit for the same period, but less than the rate for a loan. At the enterprise, profit after taxes and dividends is subject to distribution. The distribution of this part of the profit reflects the process of formation of funds and reserves of the enterprise to finance the needs of production and social development.

In a market economy, the state does not interfere in the process of distributing profits remaining at the disposal of the enterprise after paying taxes. Nevertheless, through the provision of tax incentives, it stimulates the direction of profits for capital investments for industrial purposes and housing construction, for charitable purposes, financing of environmental protection measures, expenses for the maintenance of facilities and institutions social sphere, for research work. The minimum amount of reserve capital for joint-stock companies is legally established, and the procedure for creating a reserve for doubtful debts and for depreciation of securities is regulated.

The distribution of profits remaining at the disposal of the enterprise is regulated by the internal documents of the enterprise, as a rule, in accounting policy. Some aspects of the distribution process are fixed in the charter of the enterprise. In accordance with the charter or decision of the administrative body, funds are created at the enterprise: accumulation, consumption, social sphere. If the funds are not created, then in order to ensure the planned spending of funds, cost estimates are compiled for the development of production, social needs labor collective, material incentives for employees and charitable purposes .

The costs associated with the development of production and financed from profits include:

Expenses for research, design, development and technological work;

Funding for development and development new products and technological processes;

Costs for improving technology and organization of production, upgrading equipment;

Costs associated with technical re-equipment and reconstruction of existing production, expansion of the enterprise and new construction of facilities;

Expenses for carrying out environmental protection measures. The same group of expenses includes expenses on repayment of long-term bank loans and interest on them.

The accumulated profit of an enterprise can be invested in the authorized capital of other enterprises, long-term and short-term financial investments, transferred to higher organizations, unions, concerns, associations, etc. These areas are also considered to be the use of profits for development.

The distribution of profits for social needs includes the costs of operating social facilities that are on the balance sheet of the enterprise, financing the construction of non-production facilities, holding recreational and cultural events, etc.

The costs of material incentives include the payment of bonuses for achievements in work, the cost of providing material assistance, lump-sum benefits to veterans, pensioners, compensation for the rise in the cost of food in canteens, and others. The funds allocated for these purposes form the level of providing additional social protection for employees. In conditions of low efficiency state forms protection employed workers, this role of the distribution mechanism of profit in the enterprise allows you to supplement their minimum social security.

An important role in ensuring financial stability is played by the amount of reserve capital. In a market economy, deductions to reserve capital are of a priority nature. The presence and growth of reserve capital ensures an increase in shareholding, characterizes the enterprise's readiness for risk, which is associated with all business activities, the creation of the possibility of paying dividends on preferred shares even in the absence of a current year's profit, covering contingencies and losses without the risk of loss of financial stability.

All profit remaining at the disposal of the enterprise is divided into profit that increases the value of the property, i.e. participating in the process of accumulation, and the profit is directed to consumption that does not increase the value of property. If the profit is not spent on consumption, then it remains with the enterprise as retained earnings of previous years and increases the size of the enterprise's own capital. The presence of retained earnings increases the financial stability of the enterprise, indicates the presence of a source for subsequent development.

Thus, the main goal of the profit distribution policy remaining at the disposal of the enterprise is to optimize the proportions between the capitalized and consumed parts, taking into account the implementation of the development strategy and the growth of its market value.

3.2. Factors affecting the distribution of profits

According to the nature of their occurrence, all factors can be divided into two main groups: external (generated external conditions activities of the enterprise) and internal (generated by the features of the economic activity of this enterprise.

External factors are considered as a kind of restrictive conditions that determine the boundaries of the formation of the proportions of profit distribution. These include:

1. Legal restrictions. Legislative norms determine the general financial and procedural issues related to the distribution of profits. They form the priority of certain areas of its use (tax and other deductions), establish the regulatory parameters for this use (tax rates, fees and other mandatory deductions from profits; rates of minimum deductions to the reserve fund, etc.).

2. Tax system. Specific rates of individual taxes and the system of tax incentives significantly affect the proportions of profit distribution. If the level of taxation of personal income of citizens is significantly lower than the level of taxation of economic activity and property of an enterprise, this creates prerequisites for an increase in the share of capital consumption.

3. The rate of inflation. This factor generates the risk of depreciation of future income, forming the propensity of owners to increase their current payments. However, if an enterprise produces inflation-protected products (and prices for certain types of products, as experience shows, can significantly outpace inflation) or its investment projects provide a high level of materialization of capital, then the negative impact of this factor on the actually determined proportions of profit distribution can be neglected.

4. conjuncture stage commodity market. During the period of rising market conditions, in which the enterprise sells its products, the efficiency of profit capitalization in the process of its distribution increases. The action of this favorable factor makes it possible to obtain in the coming period a much higher rate of return on reinvested capital than in previous periods.

5. "Transparency" of the stock market. In conditions of high "transparency" of the stock market, it is necessary to take into account the consequences of managerial decisions on the distribution of profits, their impact on changes in the real value and market quotation of shares.

6. Average market rate of return on invested capital. In the context of a decrease in the average market level of profit on capital, there is an increase in the trend towards an increase in the share of profit directed to consumption. At the same time, the growth of this indicator creates prerequisites for more efficient use reinvested capital, i.e. increase in the share of the capitalized part of the profit.

7. Alternative external sources of formation of financial resources. If an enterprise is able to raise financial resources from external sources at a lower cost than the weighted average cost of its capital, it can distribute a larger amount of profit among owners and staff, since its investment needs will be met by cheaper alternative external sources of financing.

Internal factors have a decisive influence on the proportions of profit distribution, as they allow them to be formed in relation to the specific conditions and results of managing a given enterprise. The most important of these factors include:

1. The mentality of the owners of the enterprise. If owners (shareholders) need a constant flow of current income or do not accept the risks associated with a long wait for these incomes in the future, they will insist on ensuring a high share of consumed profits in the process of its distribution (if their mentality is not taken into account, they will reinvest their capital into other enterprises with a more acceptable dividend policy for them).

2. The level of profitability of activities. With a low level of profitability of economic activity (and, accordingly, a smaller amount of distributed profit), the freedom to form the proportions of its distribution is significantly limited. This is due to the fact that a certain part of the profit is “bound” by contractual obligations with owners (the level of dividend payments on preferred shares), with personnel (forms of social protection) or due to legal norms (formation of a reserve fund). Therefore, the remaining part of the distributed profit will not significantly affect the proportions of its use under these conditions.

Table 2 shows the dynamics of the profitability of organizations in the Russian Federation for the period 2007-2009. The table shows that the profitability is gradually decreasing.

table 2

Dynamics of profitability of organizations (excluding small businesses) of the Russian Federation

(according to financial statements, in %)

3. Investment opportunities for the implementation of highly profitable projects. If the company's portfolio contains finished projects, the internal rate of return for which significantly exceeds the weighted average cost of capital, and such projects can be implemented in a relatively short period, the share of capitalized profits (ceteris paribus should increase).

4. Stage life cycle enterprises. In the early stages of their life cycle, enterprises are forced to invest more in their development, limiting the amount of payments to owners. At the same time, enterprises in the maturity stage are not so active in the field of real investment, they are able to attract the credit resources they need on more favorable terms, and therefore can provide higher payments.

5. Control concentration level. If, in the process of optimizing the capital structure, it becomes necessary to significantly increase the share of its own part, and the owners are worried about the threat of losing financial control over the management of the enterprise when capital is attracted from external sources, then in the process of profit distribution, the level of its capitalization should increase significantly.

6. The level of the current solvency of the enterprise. In the conditions of a low level of current solvency, a high volume of urgent financial obligations, the enterprise does not have the opportunity to direct large amounts of distributed profits for consumption.

7. The number of personnel and the current programs of its participation in profits. The higher the number of personnel, the greater the volume of contractual obligations of the enterprise for the participation of personnel in profits, the correspondingly higher should be the share of the consumed part of the profits.

8. The level of risks of ongoing operations and activities. If an enterprise pursues an aggressive policy in certain areas of its activity or carries out a large volume of individual business transactions with a high level of risk, it is forced to direct more funds from profit to the formation of reserve and other insurance funds.

The principles of profit distribution and the factors that determine it make it possible to form at the enterprise concrete type profit distribution policy that best satisfies the goal and takes into account the possibilities for the development of the enterprise in the coming period.

3.3. Distribution of profits on the example of OJSC "Barnaulskaya Gorelektroset"

As a result of work in 2009, net profit was received in the amount of 9,863 thousand rubles. For the reporting year, taxes and fees were charged by 13.3% more than in the previous year, while the increase occurred mainly in value added tax and tax on income individuals(Table 3).

Table 3

Information about tax payments to the budget

During the reporting year, there was a decrease in the value of the Company's current assets by 2.3%, non-current assets by 12.2%. The value of production assets at the beginning of the year amounted to 79,095 thousand rubles. (line 120, 211-214 of the balance sheet), and at the end of the reporting period 75,983 thousand rubles, i.e. there was a decrease by 3,112 thousand rubles. or by 3.9% (APPENDIX 1). As of December 31, 2009, by order of the enterprise, a reserve of doubtful debts was created in the amount of 138,499 thousand rubles.

In accordance with Order No. 135n of December 31, 2004 of the Ministry of Finance of the Russian Federation, distributed and declared dividends are not shown in the balance sheet. According to the results of 2008, the Company received net profit in the amount of 5,754 thousand rubles. Distribution of net profit for 2008 in accordance with the decisions General Assembly of shareholders is reflected in the accounting records in 2009. According to the results of work for 2009, a net profit of 9,863 thousand rubles was received, the distribution of which, in accordance with the decision of the General Meeting of Shareholders, will be reflected in the accounting records of 2010.

During the reporting year, the Company did not incur expenses that, in accordance with PBU 17/2002, could be recognized as expenses for research, development and technological work. The Company's financial investments in the reporting year were bank bills purchased for the total amount of 110,748 thousand rubles.

The total sales volume for 2009 amounted to 2,829,204 thousand rubles. Net profit for the reporting year amounted to 9,863 thousand rubles. Let's calculate the profitability ratios.

1. Return on assets (Net profit / assets).

At the beginning of the period, the return on assets was 0.015 (5,754 / 390,996), at the end of the reporting period 0.026 (9,863 / 373,875). During the reporting period, there was an increase in the rate of return on assets by 1.7 times.

2. Return on net assets (Net profit / average value of net assets). Return on net assets at the beginning of the period amounted to 0.055, at the end of the reporting period 0.091. Return on net assets increased 1.6 times at the end of the reporting period.

3. Return on equity (Net profit / equity). Return on equity at the beginning of the period was 0.054 (5,754 / 106,008), at the end of the reporting period 0.090 (9,863 / 110,177). Return on equity increased by 1.7 times at the end of the period.

4. Profitability of sales (net profit / revenue).

Return on sales at the beginning of the period was 0.0022 (5,754 / 2,582,155), at the end of the period 0.0035 (8,863 / 2,829,204). During the reporting year, the profitability of sales increased by 1.6 times.

According to the results of the reporting year, the total value of the Company's profitability increased and amounted to 0.3%.

Conclusion

Profit is a form of income for an entrepreneur who has invested his capital in order to achieve a certain commercial success. The category of profit is inextricably linked with the category of capital - a special factor of production - and in an average form characterizes the price of functioning capital. Profit is a cost indicator, expressed in monetary terms. The economic content of profit is manifested in its functions . Profit, as the most important category of market relations, performs a number of important functions: profit - an indicator of the effectiveness of the enterprise; stimulating function; Profit is the source of budget revenue formation. Factors affecting the amount of profit and the nature of its formation can be divided into external and internal. To external factors include: prices for production resources, the conjuncture of the commodity and stock markets, the system of taxation of the enterprise, etc. internal include, firstly, the volume of sales, the cost of production, the structure of products and costs, etc.

The most important role of profit, which increases with the development of entrepreneurship, determines the need for its correct calculation. Profit planning is an integral part of financial planning. It is carried out separately for all types of activities of the organization. There are several profit planning methods that can be used only taking into account the specifics of the enterprise. The following methods are most often used: the direct counting method, the analytical method, the combined method, the normative method, the economic-mathematical method, the method based on the effect of the production (operational) leverage, the method based on budgeting.

The profit remaining at the disposal of the organization is used by it independently and directed to the further development of entrepreneurial activity. Receiving profit, the enterprise solves the problems of its future use in accordance with the goals and objectives of development. The profit is distributed between the state, the owners of the enterprise and the enterprise itself. The distribution of profit remaining after taxes directly realizes the main goal of its management - increasing the level of well-being of the owners of the enterprise. According to the nature of the occurrence, all factors can be divided into two main groups: external and internal. External factors include: legal restrictions, tax system, inflation rate, commodity market stage, etc. To internal factors include: the mentality of the owners of the enterprise, the level of profitability of activities, investment opportunities for the implementation of highly profitable projects, etc.

The main goal of the profit distribution policy remaining at the disposal of the enterprise is to optimize the proportions between the capitalized and consumed parts, taking into account the implementation of the development strategy and the growth of its market value.

Bibliography

1. Tax Code of the Russian Federation, part 2.

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3. Blank I. A. Profit management. - 2nd ed., expanded. and additional - K .: Nika-Center, 2002, - 752 s

4. Burmistrova L. A. Finances of organizations (enterprises). – M.: INFRA-M, 2007. 240 p.

5. A. M. Kovaleva, M. G. Lapusta, and L. G. Skamai, Acoust. Firm finances. - M.: INFRA-M, 2005. -521 p.

6. Molyakov D.S., Shokhin E.I. The theory of enterprise finance. –M.: Finance and statistics, 2008. -112 p.

7. Nezamaykin V.N., Finance of organizations: management and analysis: Tutorial. - 2nd ed., revised. and additional - M .: Eksmo Publishing House, 2005. - 512 p.

8. Pavlova LN Finance of enterprises. - M .: Finance, UNITI, 1998.- p. 639.

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10. Financial management / Ed. Samsonova N.F. - M .: Finance, UNITI, 2006 - 540 p.

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MINISTRY OF EDUCATION AND SCIENCE

RUSSIAN FEDERATION

FEDERAL AGENCY FOR EDUCATION

STATE EDUCATIONAL INSTITUTION

HIGHER PROFESSIONAL EDUCATION

ALL-RUSSIAN CORRESPONDENCE

FINANCIAL AND ECONOMIC INSTITUTE

Department of Financial Management

COURSE WORK

by discipline « FINANCE OF ORGANIZATIONS »

on the topic "PLANNING AND DISTRIBUTION OF PROFIT"

(topic 2, option 2.1)

Arkhangelsk - 2009

Introduction

Chapter 1. Profit and its role in a market economy

The economic content of profit, its types

Profit functions

The role of profit in a market economy

Chapter 2

Essence of profit planning

Direct Count Method

Analytical method

mixed method

Method based on the effect of operational (financial) leverage (CVP-analysis)

Method based on budgeting

Economic-mathematical method

Chapter 3. Distribution and use of profit in the enterprise

Basic principles, goals and objectives of profit distribution in the enterprise

The essence and main directions of the distribution of profits of the enterprise

Settlement part

Conclusion

Bibliography

Applications

Introduction

Currently, the main goal of entrepreneurial activity of any enterprise is to make a profit. At the same time, in the conditions of market competition, each enterprise should strive to maximize its profits in order to be able not only to cover losses and keep the enterprise afloat, but also to ensure its development. In addition, profit is not only a source of ensuring the intra-economic needs of the organization, but also takes a great part in the formation of incomes of budgets of various levels through the payment of taxes.

Profit is the main indicator of the efficiency of the enterprise. In order to achieve a positive result of their activities , increase the efficiency of production, promote its economic and social development , the enterprise needs to know the main sources of profit formation, methods of its planning and distribution.

The relevance of this course work lies in the fact that profit, being the main driving force of a market economy, provides not only the interests of individual enterprises, but also the state as a whole, and therefore an effective system of profit distribution and planning is the key to the long-term development of the whole country.

The subject of the study is the analysis of the formation, planning and distribution of profits at the enterprise, and the object is profit as a financial result of the economic activity of the organization, including the example of JSC "Scientific and Production Corporation" Irkut ".

The purpose of the course work is a detailed study of theoretical and practical issues about profit, identifying the sources of its formation and studying the features of planning and distribution in the context of the transition to the market.

To achieve this goal, the following tasks are supposed to be solved:

reveal the economic content of profit, consider its types and functions;

determine the role of profit in a modern market economy;

familiarize yourself with the basic methods of profit planning;

explore the principles, goals and objectives of profit distribution and its use;

identify the essence and main directions of profit distribution in the enterprise.

The theoretical and methodological basis for writing the term paper was the textbooks of various authors in the field of enterprise finance, a number of normative documents Russian legislation and modern periodicals, such as the magazine "Finance" and "Tax Bulletin". As an information source of this work, the financial statements of organizations presented on official websites, as well as statistical and other data of the Ministry of Finance of the Russian Federation, were used.

In the course of the work, such research methods as economic, statistical and comparative analysis are used. MS Excel is used for automated statistical data analysis in course work.

Chapter 1. Profit and its role in a market economy

The economic content of profit, its types

The economic essence of profit is one of the most complex and debatable problems in modern economic theory.

Profit is the excess of income over expenses.

From an economic point of view profit - is the difference between cash receipts and cash payments. From an economic point of view profit- this is the difference between the property status of the enterprise at the end and beginning of the reporting period.

Representing the final financial result, profit is the main indicator in the system of enterprise goals. At the same time, profit is a very complex economic category, and therefore its various definitions, interpretations, and representations are possible. Several approaches to determining profit have been described in the literature. Let's take a closer look at some of them.

Profit is the basis for the economic development of the organization and most fully reflects the efficiency of production, the volume and quality of manufactured products, the state of labor productivity, and the level of cost. At the same time, it has a stimulating effect on the strengthening of commercial calculation and the intensification of production.

Profit is the excess of income from the sale of goods and services over the costs of producing and selling these goods. This is one of the most important indicators of the financial results of the economic activity of the enterprise and entrepreneurs. Profit is calculated as the difference between the proceeds from the sale of a product of economic activity and the sum of the costs of production factors for this activity in monetary terms.

It is customary to distinguish between economic and accounting profit. The first is the result of the sale of goods and services, the second is the result of the “work” of capital.

The idea of ​​two interpretations of profit (accounting and economic) was developed thanks to David Solomon. He proceeded from the premise that the concept of profit is needed for three purposes:

1) calculation of taxes,

2) protection of creditors,

3) to choose a reasonable investment policy.

Accounting interpretation is acceptable only for achieving the first goal and is absolutely unacceptable for achieving the third.

David Solomon developed a formula that defines the relationship between accounting and economic profit (Fig. 1).

Accounting profit

assets during the reporting period

Non-operating changes in value (estimates)

assets in previous (past) reporting periods

Non-operating changes in value (estimates)

assets in future (upcoming) reporting periods

Economicprofit

Fig 1. Solomon's formula

Accounting profit- this is the final financial result revealed for the reporting period on the basis of accounting all business transactions and evaluation of balance sheet items. The profit calculated in accounting does not reflect the actual result of the economic activity of the enterprise.

Under economic profit refers to the increase in the economic value of the enterprise. The indicator of economic profit gives an idea of ​​the effectiveness of the use of existing assets by the enterprise.

Profit, as an economic category, reflects the net income created in the sphere of material production in the process of entrepreneurial activity. The result of combining the factors of production (labor, capital, natural resources) and the useful productive activity of economic entities is the finished product, which becomes a commodity if it is sold to the consumer.

In addition to economic and accounting profit, in Russian practice, the following types of profit are distinguished:

gross profit;

sales profit;

profit from non-sales operations;

balance sheet profit;

taxable income;

net profit and others.

The concept of gross profit is fixed by law. Gross profit was the object of distribution and taxation when paying income tax before the entry into force of Chapter 25 of the Tax Code of the Russian Federation. Thus, gross profit is the difference between the proceeds from the sale of goods, products, works, services (excluding VAT and excises) and the cost of goods, products, works, services sold.

Profit (loss) from the sale of products (works, services)- this is the financial result obtained from the main activity of the enterprise, which can be carried out in any form, fixed in its charter and not prohibited by law. It is defined as the difference between the proceeds from the sale of products in current prices, excluding VAT and excises, and the costs of its production and sale.

Profit (loss) from the sale of fixed assets and property of enterprises is defined as the difference between the proceeds from the sale of this property (net of VAT) and the residual value, adjusted for inflation. The financial result from non-operating operations is defined as income (losses) minus expenses on non-operating activities.

Profit from non-operating operations formally characterized by the term "income from non-operating operations", however, in its content it belongs to the category of profit, as it is reflected in the statements in the form of a balance between income received and expenses incurred on these operations. In accounting, other income and expenses are divided into operating and non-operating. The list of these incomes and expenses is given in the Chart of Accounts. Non-operating income and expenses are mentioned in the accounting regulations "Income of the organization" (PBU 9/99) and "Expenses of the organization" (PBU 10/99). In tax accounting, the concept of operating income and expenses is not provided. In accordance with the requirements of Chapter 25 of the Tax Code of the Russian Federation, all income and expenses not directly related to the production and sale of goods (works, services) are considered non-operating. Non-operating expenses can be taken into account when calculating taxable income only if they appear in Article 265 of the Tax Code of the Russian Federation. A complete list of non-operating income is given in Article 250 of the Tax Code of the Russian Federation.

Balance sheet profit - the sum of profits (losses) of the enterprise from the sale of products and income (losses) not related to its production and sale. Under the sale of products is understood not only the sale of manufactured goods that have a natural-material form, but also the performance of work, the provision of services. The balance sheet profit as the final financial result is determined on the basis of the accounting of all business operations of the enterprise and the assessment of balance sheet items. The use of the term "balance sheet profit" is due to the fact that the final financial result of the enterprise is reflected in its balance sheet, compiled at the end of the quarter, year. The balance sheet profit includes three enlarged elements: profit (loss) from the sale of products, performance of work, provision of services; profit (loss) from the sale of fixed assets, their other disposal, the sale of other property of the enterprise; financial results from non-operating transactions.

Profit is taxed, so in practice it is customary to allocate taxable income. The latter represents gross profit minus deductions to reserve funds, income from types of activities exempted from taxation, deductions for capital investments.

As a result, the so-called net profit, which is subject to further distribution and use in accordance with the constituent documents. It is used to pay dividends to shareholders, to social payments, to finance investments, to form reserve capital, to cover losses, and to charitable purposes. The algorithm for determining the net profit of the organization is shown in fig. 2.

Introduction. 3

1. Profit and its role in a market economy. 5

1.1 The concept of profit as an economic category. 5

1.2 Profit functions. 6

2. Profit planning and factors of its growth. ten

2.1 Profit planning as an integral part of financial management 10

2.2 Profit planning methods. 12

3. Distribution and use of profits in the enterprise. nineteen

3.1 The main directions of the distribution of profits of the enterprise. nineteen

3.2 Profit distribution mechanism. 21

Conclusion. 27

References:28

Introduction

In modern economic conditions the activity of each economic entity is the subject of attention of a wide range of participants in market relations interested in the results of its functioning. To ensure survival in modern conditions, management personnel must, first of all, be able to realistically assess the financial capabilities of both their enterprise and existing potential competitors. The competitiveness of an enterprise can only be ensured by the correct management of the movement of financial resources and capital at its disposal. It is known that the purpose of the activity of the firm (enterprise) in modern economy is to make a profit. It is under this condition that the firm can exist stably and provide a basis for growth. The stable profit of the company manifests itself in the form of a dividend on invested capital, helps to attract new investors and, consequently, increase the equity of the company. Therefore, it becomes clear interest in the problems of profitability of the company.

In times of market relations, the role of analysis and planning of the financial results of an enterprise is extremely important. This is due to the fact that enterprises have acquired independence and are fully responsible for the results of their activities to co-owners, shareholders, employees, banks and creditors.

Profit is monetary value the main part of the savings created by enterprises of any form of ownership. As an economic category, it characterizes the financial result of the entrepreneurial activity of the enterprise. Profit is an indicator that most fully reflects the efficiency of production, the volume and quality of manufactured products, the state of labor productivity, and the level of cost. At the same time, profit has a stimulating effect on the strengthening of commercial calculation, the intensification of production under any form of ownership.

In the conditions of market relations, an enterprise should strive to obtain maximum profit, that is, to such a volume that would allow the enterprise not only to firmly maintain its sales position in the market for its products, but also to ensure the dynamic development of its production in a competitive environment. Therefore, each enterprise, before starting production, determines what profit, what income it can receive. Hence, profit is the main goal of entrepreneurial activity, its end result.

The purpose of this work is to analyze the features of planning and profit distribution. In connection with the work

The goal is to solve a number of interrelated tasks:

Analyze the concept of profit as an economic category;

Describe profit functions;

To characterize the process of profit planning as an integral part of financial management;

Give an analysis of profit planning methods;

Analyze the main directions of the distribution of profits of the enterprise;

Describe the mechanism of profit distribution.

1. Profit and its role in a market economy

1.1 The concept of profit as an economic category

The efficiency of production, investment and financial activities is expressed in financial results.

In market conditions, each economic entity acts as a separate commodity producer, which is economically and legally independent. An economic entity is independent in choosing a business area, forming a product range, determines costs, sets prices, takes into account sales proceeds, and therefore reveals profit or loss based on the results of activities.

Making a profit is the direct goal of the production of a business entity. The realization of this goal is possible only if the business entity produces products (works, services) that, in terms of their consumer properties, meet the needs of society. Society does not need ruble equivalents, but specific commodity and material values.

Receipt of revenue for the produced and sold products does not mean making a profit. To identify the financial result, it is necessary to compare the revenue with the costs of production and sales: when the revenue exceeds the costs, then the financial result indicates a profit. With the equality of revenue and costs, it is only possible to reimburse costs - there is no profit, and therefore, there is no basis for the development of an economic entity. When costs exceed revenue, the business entity receives losses - this is an area of ​​​​critical risk, which puts the business entity in a critical financial position that does not exclude bankruptcy. Losses highlight errors, miscalculations in the directions of using financial resources of the organization of production, management and marketing of products.

Profit reflects a positive financial result. The desire to make a profit directs commodity producers to increase the volume of production, reduce costs. This ensures the implementation of not only the goal of the business entity, but also the goal of society - the satisfaction of social needs. Profit signals where you can achieve the greatest increase in value, creates an incentive to invest in these areas.

Profit is a surplus product produced and necessarily realized. It is created at all stages of the reproduction cycle, but it receives its specific form at the stage of implementation. Profit is the main form of net income (along with excises and VAT).

The amount of profit, its dynamics is influenced by factors both dependent and independent of the efforts of the economic entity.

Factors of the internal environment are studied and taken into account in economic practice, they can be influenced in terms of increasing profits. Internal factors include: the level of management, the competence of the manager, the competitiveness of products, wages, the level of prices for products sold, the organization of production and labor.

Almost outside the sphere of influence are factors external environment: price level for consumed resources, competitive environment, entry barriers, tax system, government bodies management, political, social, cultural, religious, etc.

The amount of profit depends on the activities of the economic entity: production, commercial, technical, financial and social.

1.2 Profit functions

Rice. 1.Profit functions

First, profit is a criterion and indicator of the effectiveness of the enterprise. In other words, the very fact of profitability already indicates efficient operation enterprises.

However, it should be taken into account here that it is not the fact of making a profit that is important, but a certain amount of it, sufficient to satisfy all the needs of interested parties: the owners of the enterprise, its employees and creditors.

Secondly, profit has a stimulating function. The status of the goal is assigned to it, which predetermines economic behavior economic entities whose well-being depends both on the amount of profit and the algorithm of its distribution adopted in the national economy, including taxation.

Profit is the main source of equity capital growth. In the conditions of market relations, the owners and managers, focusing on the size of the profit remaining at the disposal of the enterprise, make decisions about the dividend and investment policy pursued by the enterprise, taking into account the prospects for its development.

Profit in a market economy is the driving force and source of renewal of production assets and products.

And, finally, profit is a source of social benefits for members of the workforce. At the expense of the profit remaining at the enterprise after the payment of tax and the payment of dividends, as well as other priority deductions (for example, for the creation of reserve funds), material incentives for employees and the provision of social benefits to them, maintenance of social facilities are carried out.

Thirdly, profit is a source of income generation for budgets of various levels. It enters the budgets in the form of taxes, as well as economic sanctions, and is used for various purposes determined by the expenditure part of the budget.

In the conditions of market relations, a business entity should strive, if not to obtain the maximum amount of profit, then to the amount of profit that will ensure the dynamic development of production in a competitive environment, allow it to maintain its position in the market for this product, ensure its survival. The solution of these problems involves not only knowledge of the sources of profit formation, but also the determination of methods for their optimal use. Profit management acts as one of two basic areas financial policy and sets as its task the maximization of income from the available sources of financial results with the simultaneous expansion of the general range of these sources.

Making a profit, possibly due to the monopoly position or the uniqueness of the product in the market of a particular product. The implementation of this source is possible due to the constant updating of the product and the retention of the share of production and sales. However, one should take into account the influence of such factors as growing competition from other business entities and the antimonopoly policy of the state.

Making a profit, concerning almost all enterprises and firms, is associated with production and entrepreneurial activities. The implementation of this source is possible only with appropriate marketing research market. The amount of profit in this case depends on the correct choice of business, on the creation of competitive conditions for the sale of goods, on production volumes, on the size and structure of production costs,

In modern conditions, the most important source of increasing profits is innovative activity. The implementation of this source involves constant work to change the consumer properties of products, works and services.

Considering profit as an economic category, we speak about it abstractly. But when planning and evaluating the economic and financial activities of the enterprise, the distribution of profits remaining at the disposal of the enterprise, specific indicators are used. A capacious informative indicator is the balance sheet profit.

The final financial result of the economic activity of the enterprise is the balance sheet profit. Balance sheet profit is the sum of the profits (losses) of the enterprise both from the sale of products and income (losses) not related to its production and sale. Under the sale of products is understood not only the sale of manufactured goods that have a natural-material form, but also the performance of work, the provision of services. The balance sheet profit as the final result is revealed on the basis of the accounting of all business operations of the enterprise and the assessment of balance sheet items. The use of the term "balance sheet profit" is due to the fact that the final financial result of the enterprise is reflected in its balance sheet, compiled at the end of the year.

2. Profit planning and factors of its growth

2.1 Profit planning as an integral part of financial management

The most important issue of managing the process of profit formation is the planning of profit and other financial results, taking into account the conclusions of economic analysis. main goal when planning is the maximization of income, which allows you to provide financing for a larger amount of the needs of the enterprise in its development. In this case, it is important to proceed from the amount of net profit. The task of maximizing the net profit of an enterprise is closely related to optimizing the amount of taxes paid within the framework of the current legislation, and preventing unproductive payments.

Profit planning is an integral part of financial planning and an important area of ​​financial and economic work in an enterprise. Profit planning is carried out separately for all types of enterprise activities. Not only does this make planning easier, but it also matters for the expected amount of income tax, since some activities are not subject to income tax, while others are taxed at higher rates. In the process of developing plans for profit, it is important not only to take into account all the factors affecting the magnitude of possible financial results, but also, having considered the options for the production program, to choose the one that provides the maximum profit.

With relatively stable prices and predictable business conditions, profit is planned for a year within the framework of the current financial plan. The current situation makes annual planning extremely difficult, and enterprises can make more or less realistic profit plans by quarter. Since, since 1993, profit planning has been "tied" to the calculation of advance payments on income tax and the procedure for making them to the budget, the preparation of quarterly plans becomes necessary. Profit tax payers are interested in the fact that the difference between the amount of advance tax payments declared by them and the actual payments is minimal. However, the more important goal of profit planning is to determine the ability of the enterprise to finance its needs.

The object of planning is the planned elements of balance sheet profit, mainly profit from the sale of products, performance of work, and provision of services. The basis for the calculation is the volume of the production program, which is based on consumer orders and business contracts.

In the most general form, profit is the difference between price and cost, but when calculating the planned profit value, it is necessary to clarify the volume of products from the sale of which this profit is expected. It is necessary to distinguish the planned amount of profit per commodity output from the profit planned for the volume of products sold. Profit on commodity output is planned on the basis of the cost estimate for the production and sale of products, where the cost of commodity output of the planned period is determined:

Ptp \u003d Tstp - Stp,

where Птп - profit on commodity release of the planned period;

Ctp - the cost of commodity output of the planned period in current selling prices (without value added tax, excises, trade and sales discounts);

Stp - the total cost of marketable products of the planned period (calculated in the cost estimate for production and sales of products).

Profit on products sold is calculated differently:

Prp \u003d Wrp - Crp,

where Prp - planned profit on products to be sold in the coming period;

GRP - planned revenue from the sale of products in current prices (without value added tax, excises, trade and marketing discounts);

CRP - the full cost of products sold in the coming period.

Based on the fact that the volume of sold products of the upcoming planning period in physical terms is determined as the sum of the balances of unsold products at the beginning of the planning period without the balances of finished products that will not be sold at the end of this period, the calculation of the planned amount from sales of products will take the form:

Prp \u003d P01 + Ptp - P02,

where At - profit from the sale of products in the planned period;

P 01 - profit in the balance of products not sold at the beginning of the planning period;

Птп - profit of commercial products planned for release in the coming period;

P 02 - profit in the balance of finished products, which will not be realized at the end of the planning period.

It is this calculation method that underlies the use of the enlarged direct method of profit planning, when it is easy to determine the volume of products sold in prices and at cost.

2.2 Profit planning methods

In modern conditions, the amount of profit is predictive. It is determined separately for all types of activities. The object of planning are the elements of balance profit. At the same time, special attention is paid to determining the amount of profit from the sale of products (works, services), since it occupies the largest specific gravity and the most stable.

A common profit planning method is the direct counting method. This method is most effective in the implementation of a small product range of products (works, services).

According to this method the development of a profit plan should be preceded by calculations of the planned amounts of gross income and distribution costs, justifications for receiving income from other activities and non-operating income and expenses.

To justify the amount of gross income, a trading enterprise must calculate a turnover plan for individual goods and commodity groups, develop for yourself pricing policy, in which to determine the expected trend in price movements and the level of trade margins established by the enterprise.

The estimated amount of income from non-trading activities is determined on the basis of their perceived sizes for each type of activity in reporting period and changes planned for the coming year.

The calculation of the planned amount of profit from sales should also include calculations for business case the planned value of distribution costs.

The planned value of gross profit depends on the balance of non-operating income and expenses in the planned year, which is determined based on the amounts achieved in the reporting year for each type of income and expenses separately and the changes planned for the planned year. At the same time, the enterprise must take effective measures to reduce non-operating expenses such as transaction costs, expenses in the form of fines, penalties or other sanctions for violation of contractual obligations, amounts of receivables for which the limitation period has expired.

In non-operating expenses, a significant place may be the amount of expenses for paying interest on bank credits (loans) for current storage goods. The costs of paying interest for using a loan are planned based on the standard of inventory, the availability of own working capital and the bank's rates for granting a loan.

The considered method of direct counting allows you to get fairly accurate results of the planned amount of net profit, but it also has disadvantages. First of all, it is not focused enough on achieving the target (normative) indicators of the level of net profit.

A fairly simple method of planning the profit of a trading enterprise is normative method but the condition for its application is the presence of an appropriate regulatory framework at the enterprise. The rate of profit per unit of turnover or the rate of return on equity can act as such standards.

As a normative level of profitability and the rate of net profit on equity, their actual values ​​achieved in the reporting period can be used, taking into account peer review sufficiency for the production and social development of the enterprise. In case of their insufficiency, the standards may be: the average industry level of profitability achieved in the reporting period, or the average rate of deposit interest in the money market.

The normative method of planned calculation of the amount of net profit can be used in the process of its determination for newly opened enterprises. Its disadvantage is that it is practically not linked to other indicators of the activity of a commercial enterprise, as a result of which it cannot also be used for multivariate calculations.

Target planning method profit allows you to link its size with the development goals of the enterprise. The basis of this method is the preliminary determination of the minimum required amount of profit sufficient to pay income tax, repay long-term loans and interest on them, meet the company's needs for funds to pay dividends, make social payments to employees, and also to accumulate funds necessary for the enterprise for production. development.

Let's take a concrete example.

As already mentioned, when planning the profit of an enterprise, various economic and mathematical models can be used.

The volume of sales of the enterprise is formed as a result of the combined influence of many long-term and short-term factors. A change in these factors leads to a variation in the volume of sales over time. However, as a result of long-term factors, the development of the volume of sales to a certain extent has an inertial character, which manifests itself, firstly, as the inertia of the relationship, i.e. maintaining the pace and direction of changes in revenue.

The presence of inertia makes it possible to judge the future development of sales volumes (although with an insufficient degree of accuracy), based on an analysis of the past, identifying patterns of the past period, i.e. about the trend in the volume of sales, which can be characterized as a function - a trend.

To identify the main trend in the development of sales volume, the method of analytical alignment (trend method) is used.

Most important point when leveling is the choice of the type of curve, on which the results of the sales volume forecast depend. The most reasonable should be considered the approach based on the graphical analysis of revenue.

Table 1

Initial data on the volume of sales of AVIS LLC for 2005.

Let's present the data of table 1 in the form of a graph.

Rice. 2. Dynamics of proceeds from sales by months for 2005, thousand rubles.

Based on this graph, it can be seen that the sales volume develops according to a linear function:

where y is the volume of product sales;

х - Time factor, year (month);

t - model parameters.

The model parameters are found using the program Microsoft Excel. In this case, the trend line equation will have the following form (see Fig. 3).

Rice. 3. Trend analysis of the dynamics of volumes from sales.

Thus, the trend equation will look like y = 5870.5 + 298.26x.

Let's forecast the proceeds from sales for the next (2005) year.

table 2

Forecast calculation of proceeds from sales for 2006

Let's assume that the amount of commercial and administrative expenses will remain at the same level as in 2005 and will amount to 7286 thousand rubles. The share of the cost in the sales volume is 80%. Thus, the projected prime cost in 2006 will be 136,660*0.80+7,286 = 116,614 thousand rubles.

The forecast value of profit in 2006 will be:

136660 - 116614 \u003d 20,046 thousand rubles.

3. Distribution and use of profits in the enterprise

3.1 The main directions of the distribution of profits of the enterprise

The distribution and use of profits is the most important economic process that provides coverage for the needs of entrepreneurs and the formation of state revenues.

The main areas of use of profits include:

Fulfillment of obligations to budgets (federal, regional, local);

Settlements with banks, enterprises, organizations;

Investments in the development of the enterprise;

Payment of dividends on shares;

satisfaction of social and material needs workers.

The profit remaining at the disposal of the organization is accumulated in several funds: accumulation, consumption, reserve.

From the accumulation fund, funds are spent on the development of the organization - the construction of new facilities, the expansion and reconstruction of existing ones, the acquisition of property and the modernization of equipment. Other areas of production development are also financed.

The consumption fund is intended for material incentives for employees and strengthening the social sphere.

The reserve fund is used mainly not only to cover unproductive losses and losses, but also the loss for the reporting year.

The main directions for the use of the profit remaining at the disposal of the enterprise are determined by its constituent documents or the decision of the founders, which must indicate which funds and in what amounts are created at the enterprise at the expense of net profit and for what purposes they are directed.

Specific directions and amounts of profit distribution are determined by the dividend policy adopted at the enterprise and the policy of development of the enterprise.

A schematic diagram of the distribution of profits remaining at the disposal of the enterprise is shown in fig. 4.

Rice. 4. Scheme of distribution of profits of the enterprise

The reserve fund is intended to cover unproductive losses and losses, cover the balance sheet loss of the enterprise for the reporting year, as well as payments of income (dividends) to participants in the absence or insufficiency for these purposes of the profit of the reporting year.

The accumulation fund is intended to provide financial support for the production development of the enterprise and other similar measures to create new property. This fund finances the construction of new production facilities, the expansion and reconstruction of the enterprise, the acquisition and modernization of equipment, the repayment of long-term loans and interest on them, the financing of the increase in own working capital, etc.

The Social Sphere Fund is intended to finance capital investments in the development of social facilities: the construction of housing, cultural and educational institutions, sanatoriums, rest houses, children's holiday camps, school and preschool institutions, etc.

The accumulation fund and the social sphere fund may act as a single accumulation fund.

The consumption fund accumulates funds allocated for the implementation of measures to develop the social sphere (except for capital investments) and material incentives for employees and other similar measures that do not lead to the formation of new property of the enterprise.

3.2 Profit distribution mechanism

The mechanism for distributing profits must be constructed in such a way as to contribute in every possible way to increasing the efficiency of production and to stimulate the development of new forms of management. One of the most important problems of profit distribution is the optimal ratio of the share of profit accumulated in budget revenues and remaining at the disposal of economic entities. An economically sound system of profit distribution should guarantee the fulfillment of financial obligations to the state and ensure the production, material and social needs of the enterprise as much as possible.

The object of distribution is the balance sheet profit of the enterprise. Its distribution is understood as the direction of profit to the budget and according to the items of use in the enterprise. Legislatively, the distribution of profits is regulated in that part of it that goes to the budgets of different levels in the form of taxes and other obligatory payments. Determining the directions of spending the profit remaining at the disposal of the enterprise, the structure of the articles of its use is within the competence of the enterprise.

The principles of profit distribution can be formulated as follows:

The profit received by the enterprise as a result of production, economic and financial activities is distributed between the state and the enterprise as an economic entity;

Profit for the state comes to the relevant budgets in the form of taxes and fees, the rates of which cannot be arbitrarily changed. The composition and rates of taxes, the procedure for their calculation and contributions to the budget are established by law;

The amount of the enterprise's profit remaining at its disposal after paying taxes should not reduce its interest in increasing the volume of production and improving the results of production, economic and financial activities;

The profit remaining at the disposal of the enterprise is primarily directed to accumulation, which ensures its further development, and only in the rest - to consumption.

At the enterprise, the net profit is subject to distribution, that is, the profit remaining at the disposal of the enterprise after paying taxes and other obligatory payments. Sanctions paid to the budget and some off-budget funds are collected from it.

The profit remaining at the disposal of the enterprise is used by it independently and directed to the further development of entrepreneurial activity. No bodies, including the state, have the right to interfere in the process of using the net profit of the enterprise. Market conditions of management determine the priority areas of their own profits. The development of competition necessitates the expansion of production, its improvement, and the satisfaction of the material and social needs of labor collectives.

In accordance with this, as it becomes available, the net profit of the enterprise is directed to finance R&D, as well as work on the creation, development and implementation of new technology, to improve technology and organization of production; for the modernization of equipment; improvement of product quality; technical re-equipment, reconstruction of existing production.

Net profit is a source of repayment of own working capital. In addition, it is used to pay interest on loans received to fill the lack of own working capital, to purchase fixed assets, as well as to pay interest on overdue and deferred loans.

Some types of fees and taxes are paid at the expense of net profit, tax on the resale of cars, computer science and personal computers, fees from transactions for the purchase and sale of currency on exchanges, fees for the right to trade, and others.

Along with the financing of production development, the profit remaining at the disposal of the enterprise is directed to meet consumer and social needs. Thus, one-time incentives and benefits for those retiring, as well as supplements to pensions, are paid out of this profit, expenses are incurred for paying additional holidays beyond the statutory duration, the cost of free meals or meals at reduced prices are paid.

The profit remaining at the disposal of the enterprise serves not only as a source of financing for production and social development, as well as material incentives, but is also used in cases of violation of the current legislation by the enterprise to pay various fines and sanctions.

Thus, fines are paid out of net profit in case of non-compliance with security requirements. environment from pollution, sanitary norms and rules, with an increase in regulated prices for products. From the net profit, the profit illegally received by the enterprise is collected.

In cases of concealment of profits from taxation or contributions to off-budget funds, penalties are also collected, the source of payment of which is net profit.

The distribution of net profit reflects the process of formation of funds and reserves of the enterprise to finance the needs of production and the development of the social sphere.

In modern economic conditions, the state does not establish any standards for the distribution of profits, but through the procedure for granting tax incentives, it stimulates the direction of profits for capital investments of an industrial and non-productive nature, for charitable purposes, financing environmental protection measures, expenses for the maintenance of objects and institutions of the social sphere, and more. The size of the reserve fund of enterprises is legally limited, and the procedure for forming a reserve for doubtful debts is regulated.

In the context of the transition to market relations, it becomes necessary to reserve funds in connection with the risky operations and, consequently, loss of business income. Therefore, when using net profit, enterprises have the right to create a financial reserve, that is, a risk fund.

With extension sponsorship part of the net profit can be directed to charitable needs, assistance to theater groups, organization of art exhibitions and other purposes.

The distribution of net profit is one of the areas of intra-company planning, the importance of which is growing in a market economy. The procedure for the distribution and use of profits at the enterprise is fixed in the charter of the enterprise and is determined by the regulation, which is developed by the relevant divisions of economic services and approved by the governing body of the enterprise. In accordance with the charter, enterprises can draw up estimates of expenses financed from profits, or form funds special purpose: accumulation funds (production development fund or production and scientific and technological development, social development fund) and consumption funds (material incentive fund).

The estimate of expenses financed from profits includes expenses for the development of production, social needs of the workforce, material incentives for employees and charitable purposes.

The costs associated with the development of production include the costs of research, design, design and technological work, financing the development and development of new types of products and technological processes, the costs of improving technology and organizing production, upgrading equipment, costs associated with technical re-equipment and reconstruction of existing production, expansion of enterprises. The same group of expenses includes expenses on repayment of long-term bank loans and interest on them. The costs for environmental protection measures, etc., are also planned here. Contributions of enterprises from profits as contributions of the founders to the creation of the authorized capital of other enterprises, funds transferred to unions, associations, concerns, which include the enterprise, are also considered to be the use of profits for development.

The distribution of profits for social needs includes expenses for the operation of social and amenity facilities that are on the balance sheet of the enterprise, financing the construction of non-industrial facilities, organization and development of ancillary Agriculture, health-improving, cultural events, etc.

The costs of material incentives include one-time incentives for the performance of particularly important production tasks, the payment of bonuses for the creation, development and implementation of new technology, the cost of providing material assistance to workers and employees, lump-sum benefits for labor veterans retiring, pension supplements, workers' compensation rise in the cost of food in canteens, buffets of the enterprise due to price increases, etc.

All profit remaining at the disposal of the enterprise is divided into two parts. The first increases the property of the enterprise and participates in the process of accumulation. The second characterizes the share of profit used for consumption. At the same time, it is not necessary to use all the profits allocated for accumulation in full. The rest of the profit not used to increase the property has an important reserve value and can be used in subsequent years to cover possible losses and finance various costs.

Retained earnings in broad sense how the profit used for accumulation and retained earnings of past years testify to the financial stability of the enterprise, the availability of a source for subsequent development.

The distribution and use of the profits of partnerships and joint-stock companies have their own characteristics, due to the organizational and legal form of these enterprises.

Conclusion

In conclusion, we note the following.

Profit is one of the main financial indicators plan and evaluation of economic activity of enterprises. At the expense of profits, financing of measures for the scientific, technical and socio-economic development of enterprises, an increase in the wage fund of their employees is carried out. It is not only a source of ensuring the intra-economic needs of the enterprise, but acquires all greater value in the formation of budgetary resources, non-budgetary and charitable funds.

Summing up the work done, it should be emphasized once again that profit is the difference between all the income of the enterprise and all its expenses - a positive financial result of the enterprise and characterizes the absolute efficiency of the enterprise in all areas of its activity: main (production, marketing, supply) , operating and non-operating.

Profit is the basis for the economic development of the enterprise and strengthening its financial relations with all participants in the commercial business, and its growth creates a financial basis for self-financing, expanded reproduction, and solving the problems of social and material incentives for personnel. Also, profit is a source of income generation for budgets of various levels and repayment of debt obligations of an enterprise to banks, other creditors and investors.

Thus, profit is one of the most important in the performance evaluation system and business qualities enterprise, the degree of its reliability and financial well-being.

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