home Translator Fixed capital management as a system. Fixed capital management, cash flow management methods

Fixed capital management as a system. Fixed capital management, cash flow management methods

INTRODUCTION 4
CHAPTER 1. THEORETICAL ASPECTS OF ENTERPRISE CAPITAL MANAGEMENT 6
1.1. The concept and essence of fixed capital of an enterprise 6
1.2. Principles and methods of fixed capital management. 8
1.3 Objectives and main stages of fixed capital management 12
CHAPTER 2. MANAGEMENT OF FIXED CAPITAL
LLC "KAMENSKOE" 15
2.1. Organizational and economic characteristics of Kamenskoye LLC 15
2.2. Assessment of the structure and changes in fixed capital of Kamenskoye LLC 20
CHAPTER 3. WAYS TO IMPROVE OWN CAPITAL MANAGEMENT POLICIES 28
3.2. Proposals for improving capital management of Kamenskoye LLC 28
3.2 Assessing the effectiveness of the proposed activities 30
CONCLUSION 33
REFERENCES 35

Introduction

Capital is a stock of economic goods accumulated through savings in the form of cash and real capital goods. They are involved by its owners in the economic process, as an investment resource and a factor of production in order to generate income. Their work in the economic system is based on market principles and is related to the factors of time, risk and liquidity.
The concept of non-current assets, fixed capital, is identical.
Fixed capital includes fixed assets, as well as unfinished long-term investments, intangible assets and new long-term financial investments.
Fixed assets at an enterprise can be received through such channels as:
- contribution to the authorized capital enterprises;
- as a result of capital investments;
- as a result of gratuitous transfer;
- as a result of rent.
For an operating enterprise, the use of fixed assets includes, first of all, the following stages:
— inventory of existing and used fixed assets in order to identify obsolete and worn-out components of fixed assets;
— assessment of the compliance of existing technical equipment with the technology and production enterprise;
— selection of the volume and structure of fixed assets. Next comes the process of reinstalling existing technical equipment, purchasing, delivering and assembling new technical equipment.
The main goal of the reproduction of fixed assets is the achievement of enterprises with fixed assets in their quantitative and qualitative composition, as well as maintaining them in working order.
In the process of reproduction of fixed assets, the following tasks are solved:
— coverage of fixed assets written off for various reasons;
— increasing the volume of fixed assets in order to expand production volumes;
— improvement of the type, technological and age structure of fixed assets, more precisely, an increase in the level of production.
Fixed capital in material form represents the production and technical potential of the enterprise, and in value form it represents the economic potential.
Therefore, the study of its influence on production and the effective parameters of its application is of practical interest.
The object of work is the fixed capital of the enterprise.
The subject of the work is management of fixed capital.
The purpose of the work is to analyze the management of fixed capital at the Kamenskoye LLC enterprise.
To achieve this goal, it is necessary to complete the following tasks:
— study the concept and essence of the enterprise’s fixed capital;
— consider the principles and methods of managing fixed capital;
— consider the tasks and main stages of fixed capital management;
— characterize the activities of Kamenskoye LLC;
— assess the structure and changes in the fixed capital of Kamenskoye LLC;
— develop proposals for improving capital management;
— evaluate the effectiveness of the proposed activities.

List of sources used

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2. Aleksandrov O.A., Egorov Yu.N. Economic analysis. - M.: Infra-M, 2011. - 288 p.
3. Basovsky L.E., Luneva A.M., Basovsky A.L. Economic analysis. - M.: Infra-M, 2008. -224 p.
4. Barilenko V.I. Analysis economic activity. - M.: Omega-L, 2009. - 414 p.
5. Blank I.A. Financial management. – K.: Nika-center, Elga, 2009. – 528 p.
6. Burmistrova L.M. Enterprise finance. - M.: Infra-M, 2009. - 240 p.
7. Gavrilova A.N., Popov A.A. Enterprise finance. - M.: KnoRus, 2007. - 598 p.
8. Gerasimova E.B., Melnik M.V. Assessment of the financial and economic performance of the enterprise. - M.: Forum, 2008. - 193 p.
9. Efimova O. V. Financial assessment— M.: Accounting, 2006-196 p.
10. Zhideleva V.V., Kaptein Yu.N. Enterprise Economics: Textbook. manual 2nd ed., revised. and additional - M.: Infra-M, 2009. - 133 p.
11. Eliseeva T.P., Molev M.D., Tregulova N.G. Economics and analysis of enterprise activities. - M.: Phoenix, 2011. — 476 p.
12. Kazakova N.A. Economic analysis in business valuation. - M.: Business and Service, 2011. - 288 p.
13. Kovalev A.M. and others. Finance of the company: Textbook. / Kovalev A.M., Lapusta M.G., Skamay L.G. - M., 2008. - 415 p.
14. Kovalev V.V., Volkova O.N. Analysis of the economic activity of an enterprise: Textbook. M.: Prospekt. 2009.- 424 p.
15. Kolchina N.V. Enterprise finance - M.: UNITY-DANA, 2008. - 447 p.
16. Kreinina M.N. Financial condition of the enterprise. Methods of assessment. - M.: ICC "Dis", 2008.
17. Korobov M.Ya. Financial and economic analysis of the enterprise’s activities: Tutorial. - K.: Knowledge, 2004. - 378 p.
18. Molyakov D.S., Shokhin E.I. Theory of enterprise finance: Textbook. allowance. - M.: Finance and Statistics, 2009. - 112 p.
19. Osipova L.V., Sinyacheva I.M. Basics commercial activities: Textbook. — 2nd ed., revised. and additional - M: UNITY-DANA, 2009. - 623 p.
20. Prykin B.V. Economic analysis of the enterprise: Textbook. - M.: UNITY-DANA, 2009. - 360 p.
21. Enterprise Economics / Ed. A.E. Karlika, M.L. Schuhgalter. - St. Petersburg: Peter, 2009. – 464 p.

Overall volume: 34

Management technology is a set of approaches and methods for managing fixed capital. Control technology involves certain stages of work. These include.

1. Study of the structure and composition of fixed capital.
2. Study of the state and dynamics of the organization's fixed capital.
3. Identification of persons (persons) who are responsible for the policies and tactical decisions made in the organization’s fixed capital management system.
4. Study and comparison of time series that describe changes in fixed capital, its trends, with the goals and objectives of the organization.
5. Constant control of the volume and composition of fixed capital, based on the “tree of goals” of the organization, renewal, disposal and entry, sales and purchases of fixed capital.
6. Ensuring the effective use of existing fixed capital.
7. Improving sources of financing for changes in the composition and structure of fixed capital.

Renewal of fixed capital is usually carried out on a simple and extended basis.

Renewal of fixed capital on a simple basis is carried out as it wears out (physical and moral) within the limits of available depreciation.

Extended renewal of fixed capital also involves the use of new types of fixed assets, for example, through profits, loans, funds of founders and other sources of financing.

Modernization of fixed capital during any type of reproduction can be carried out in such forms as:

- current repair, which is a process of incomplete restoration of the properties and value of fixed assets during their renewal;
- major repairs, which act as a process of complete restoration of fixed assets or incomplete replacement of individual worn-out components. The amount of capital repairs performed reduces the depreciation of fixed assets, and thereby increases their residual value;
- acquisition of new types of operating non-current assets to replace used analogues within the amount of accumulated depreciation;
- modernization is an investment operation that is associated with improving and bringing the active part of operating non-current assets to a state that corresponds to the modern level of technology. Modernization can be carried out as a constructive change in the main fleet of machines, mechanisms and equipment;
- reconstruction - an operation that is associated with a significant transformation of the entire production process based on modern scientific and technical practices. It is being implemented in accordance with a comprehensive plan for the reconstruction of the enterprise to radically increase its production potential, significantly improve the quality of products, introduce resource-saving technologies, etc.

A significant aspect of the organization's fixed capital management system is the choice of depreciation policy. The depreciation policy of an enterprise is the establishment of a procedure for determining depreciation charges, the degree of which determines the speed of the necessary renewal of operating non-current assets. The importance of updating operating non-current assets stems from their “propensity” to moral and physical wear and tear.

Physical wear and tear of non-current assets is defined as the gradual loss of their original functional properties (for example, aging of equipment, technical wear and tear of equipment). Current renovation work may restrain this process, but someday there still comes a moment when the further use of fixed assets becomes technically impossible and a radical replacement of old equipment is required.

Obsolescence is a more complex phenomenon. Obsolescence is associated with the relative loss of non-current assets of their properties (since new ones appear, of higher quality, more reasonable prices, etc.). As a result, the use of certain types of assets becomes economically unfeasible. That is, outdated equipment requires replacement for both technical and economic reasons.

General principles, approaches and depreciation rates, as a rule, are set by the state, which is due to the fact that depreciation charges are included in the cost of products (works, services), and therefore reduce the amount of taxation, since they affect the direct financial interest of the state. Also, any organization has a certain “degree of freedom” in choosing any depreciation policy based on strategic and tactical goals and the required intensity of replacement of fixed capital.

There are two methods of depreciation of non-current assets. These include:

- method of linear (straight-line) depreciation;
- accelerated depreciation method.

The second method allows you to reduce the depreciation period of assets when using increased depreciation rates. Russian legislation may allow accelerated depreciation only for the active part of fixed production assets (machines, mechanisms, equipment used in the production process). The use of this method helps speed up innovation process in the company, since it allows you to quickly update the fleet of machines and mechanisms, as well as ensure the progress of the formation of the necessary financial resources for the purpose of asset renewal. In addition, the accelerated depreciation method leads to a reduction in the amount of income tax paid by the company, and therefore reduces third-party “withdrawal” of money and improves the quality of cash flow.

Thus, asset management is a complex science and art. financial management aimed at concentrating the company's ability to generate profits and (or) positive cash flow.

Ministry of Education of the Republic of Belarus

Ministry of Education and Science Russian Federation

State institution of higher professional education

Department of "Commercial Activity"

COURSE WORK

Discipline: "Enterprise Economics"

On the topic: “Management of fixed capital of an enterprise using the example of a branch of RUPP “BelAZ””

Performed:

Supervisor

Introduction

1.1 Concept and structure of fixed capital. Fixed assets, their composition and structure

1.2 Indicators of the use of fixed production assets

1.3 Depreciation and amortization of OPF

Conclusion

Appendix A Profit and loss report of the branch of RUPP BelAZ for 2007

Appendix B Report on the availability and movement of fixed assets and other non-current assets of the branch of RUPP "BelAZ" for 2006

Appendix B Report on the availability and movement of fixed assets and other non-current assets of the branch of RUPP "BelAZ" for 2007

Appendix D Cash flow report of the branch of RUPP "BelAZ" for 2006

Appendix E Balance sheet of the branch of RUPP "BelAZ" for 2007..43

Appendix E Balance sheet of the branch of RUPP "BelAZ" for 2008

Appendix G Basic targets development of the branch of RUPP "BelAZ" for 2001-2007

Introduction

Of course, for the normal functioning of an enterprise, the availability of certain funds and sources is necessary. Fixed production assets, consisting of buildings, structures, machines, equipment and other means of labor that participate in the production process, are the most important basis for the activity of the enterprise. Without their presence, hardly anything could have happened. Rational and economical use of fixed assets is the primary task of the enterprise.

Having a clear understanding of each element of fixed assets in the production process, their physical and moral wear and tear, and the factors that influence the use of fixed assets, it is possible to identify methods by which the efficiency of using fixed assets and production capacities of the enterprise is increased, ensuring a reduction in production costs and growth in labor productivity.

Object of study course work is machine-building enterprise Mogilev Branch of RUPP "BelAZ".

The purpose of this course work is to study the structure of fixed capital and improve its management.

To achieve the goal, it is necessary to solve the following tasks:

The structure of fixed capital, as well as the composition and structure of fixed assets, have been studied; The indicators of the use of fixed production assets are considered; The indicators of the use of the OPF of a particular enterprise are analyzed; Ways to improve the management of fixed capital have been identified.

1 Fixed capital of the enterprise

1.1 Concept and structure of fixed capital. Fixed assets, their composition and structure

Fixed capital is a monetary valuation of non-current assets of business entities, represented by fixed assets and intangible assets as material assets that have a long period of operation.

The structure of fixed capital is determined by specific gravity groups and subgroups of non-current assets of the organization.

Fixed assets (F) - represent a set of material assets used as means of labor and operating in kind for a long time, as in the sphere material production, and in the non-productive sphere and transferring their value to finished products in parts.

Fixed production assets (FPF) are the fixed assets of the sphere of material production involved in the production process long time, while maintaining their natural shape, transferring their value to the finished product gradually, in parts as they are used.

Non-production PFs - do not directly participate in the production process, do not transfer their value to the finished product, but are on the balance sheet of the enterprise and are intended to satisfy the personal, cultural and everyday needs of workers (housing stock, cultural centers, children's institutions, clinics, etc. ).

OPF classification:

1) Based on their role in the production process, OPFs are divided into:

1.1 Active part - directly affects the production, quantity and quality of products;

1.2 Passive elements that create the necessary conditions for the production process

In addition, in accounting, items that have served for less than a year, regardless of their value, and low-value items, regardless of their service life, are not classified as PF.

2) According to the material and natural composition, the OF is divided into:

2.1 Buildings - buildings that house various workshops, administrative and utility buildings necessary for the normal technological process.

2.2 Structures - include engineering and construction facilities of various natures, with the help of which technical functions not related to changes in objects of labor ( gas wells, water towers).

2.3 Transmission devices - power lines, cable lines, telephone and telegraph networks, radio communications, pipelines, oil pipelines, etc.

2.4 Mechanisms and equipment:

a) power machines and equipment, which include generator machines that produce energy; motor machines (electric motors, mercury rectifiers, transformers, steam boilers, compressor units);

b) working machines and equipment - equipment used for production (machines, presses, cranes).

2.5 Vehicles - mobile vehicles on the balance sheet of the enterprise, intended for the movement of goods and workers (cars, electric locomotives, trolleys, cars; tractors).

2.6 Tool. This includes mechanized and hand tools of all types - measuring, cutting, pressing, jackhammers, as well as all kinds of devices - vices, chucks.

2.7 Production equipment and accessories combine means that facilitate work (workbenches, work tables) or contribute to its protection (fencing of machines, machine tools), as well as inventory containers, containers, etc.

The household equipment group includes items for office and household purposes: furnishings, tables, typewriters, fire-fighting items, etc.

2.8 Working and productive livestock.

2.9 Perennial plantings.

2.10 On-farm roads.

2.11 Other OF.

The characteristic features of OPFs are that they have high cost, long service life, function for a long period, retain their natural shape during operation, transfer the value contained in them to the manufactured products gradually in parts, to the extent of wear.

Not all groups of fixed capital play the same role in the production process. If buildings and structures provide conditions for production, then machines and equipment are directly involved in the creation of products. The ratio of individual groups of general fund in their total volume represents the production structure of the general fund, in which the active and passive parts are distinguished.

3) According to their affiliation, OPFs are divided into:

3.1 Own, which are wholly owned by the enterprise;

3.2 Leased - are the property of other business entities and, in accordance with the lease agreement, are used at this enterprise.

The structure of the OPF is influenced by the following factors:

Material, technical and production features of the industry;

Forms of organization of production;

Technical level of production;

Forms of reproduction of PF;

Level of industrialization of construction;

Geography of industrial location;

Nature of products;

Volume of production.

1.2 Indicators of the use of fixed production assets (FPF)

1) capital productivity (FE) - the ratio of the cost of products produced using fixed production assets for the year to the average annual cost of these assets:

where TP (V) – commercial products, rub. (or B – revenue from sales of products, rub.);

OPF cost.

Capital productivity characterizes the volume of production per 1 ruble invested in fixed assets.

Factors for the growth of capital productivity are:

Increasing equipment productivity as a result of technical re-equipment and reconstruction;

Increasing the equipment shift ratio;

Improved time and power utilization;

Accelerating the development of newly commissioned capacities;

Reduced cost per unit of power;

Replacement manual labor machine

2) capital intensity (FE) is the average annual cost of fixed production assets per 1 ruble. annual production volume. Capital intensity is an indicator inverse to capital productivity and is determined by the formula:

Capital intensity is used to determine the need for fixed production assets;

3) capital-labor ratio (FV) is the ratio of the average annual cost of fixed production assets to average number industrial production personnel of the enterprise:

where is the average annual number of employees of the organization.

If labor productivity at an enterprise grows at a faster rate compared to the capital-labor ratio, this indicates the efficient use of the enterprise's fixed production assets;

4) profitability of production - the amount of profit per 1 ruble. the entire set of funds:

Particular indicators characterize the level of use of the most active part of fixed production assets—working machines and equipment. These include:

1) extensive equipment load factor, characterizing the level of equipment use over time. The coefficient of extensive use of equipment (Kext) is defined as the ratio of the actual number of operating hours of equipment (tf) to the number of standard operating hours (tn):

2) the equipment shift coefficient (Kcm) characterizes its extensive use and shows how many shifts a piece of equipment has worked:

where C is the sum of machine shifts worked per day;

K - the amount of installed equipment.

3) intensive equipment load factor, characterizing the level of equipment utilization in terms of power and productivity. The coefficient of intensive use of equipment (Kint) is defined as the ratio of the actual productivity of the equipment (Pf) to the standard (Pn):

4) coefficient of integral utilization of equipment (Kintegra). It is defined as the product of the coefficients of extensive and intensive use of equipment and comprehensively characterizes its operation in terms of time and productivity (power):

Low values of private indicators indicate ineffective use of equipment.

OPFs have initial, residual and replacement costs.

The initial cost of OPF is formed from the costs of their acquisition, construction and production, including delivery, installation and installation costs.

Residual value of the fixed assets is the difference between the original cost and the amount of depreciation to which the fixed assets are subjected:

Depreciation rate;

Operating period, years.

Replacement cost - the cost of reproduction of the PF in modern conditions. Set during the revaluation of the general fund:

where is the initial cost, rub.;

P – average annual growth rate of labor productivity;

t is the time lag (the period of time during which the invested capital does not produce a return in the form of revenue from the sale of products).

The average annual cost of the commissioned funds is determined by dividing their cost by 12 and multiplying the result by the number of full months during which the commissioned funds will be operated.

The average annual cost of retiring OPF is determined by dividing their value by 12 and multiplying the result by the number of full months remaining until the end of the year from the time of their disposal.

Basics production equipment divided into:

a) Cash is equipment listed on the balance sheet and included in the inventory lists of the enterprise, regardless of condition and location;

b) Installed - equipment is considered to be located in production premises, operating, inactive, in reserve and on conservation. It does not include equipment that arrived at the enterprise, but was not installed and put into operation;

c) Operating - this is equipment that produces products.

A general assessment of the movement of OPF is given by the coefficients of renewal, retirement, growth, suitability and wear (respectively Ko; Kv; Kg; Ki).

The renewal coefficient (Ko) reflects the intensity of the update of the OPF:

where is the cost of the general public fund received in the reporting year;

The retirement coefficient (Kv) characterizes the degree of intensity of disposal of the general fund:

where is the cost of OPFs retired in the reporting year;

The technical condition of the OPF is characterized by the suitability coefficient (Kg):

where is the residual value of OPF;

Initial cost of OPF;

Wear rate.

The wear coefficient (Ci) is determined by:

where is the amount of accrued depreciation;

PF cost at the beginning of the year.

Fixed assets growth rate ():

where - is the cost of OPF received in the reporting year;

Cost of OPFs retired in the reporting year;

PF cost at the end of the year.

1.3 Depreciation and amortization of OPF

Wear and tear is the loss of physical and moral characteristics OPF.

Physical wear and tear is the loss of fixed assets of their original production and technical qualities as a result of work or inaction. Physical wear and tear in percentage and value terms is established by examining the actual and technical condition the object as a whole and its most important parts.

Physical wear and tear is determined by:

where is the actual service life of the OPF;

Standard service life of OPF;

Obsolescence is a premature depreciation of the general asset fund before the end of its physical service life.

Obsolescence of the first form is determined by revaluing the general financial assets by comparing their full original cost with the replacement cost:

where is the initial cost of the PF;

Replacement cost of PF.

Obsolescence of the second form is established by comparison technical characteristics obsolete OPF and new ones:

where is the productivity of a new and obsolete machine, respectively.

Accounting for physical and moral wear and tear is necessary for correct definition replacement cost of funds, their service life and replacement, depreciation rates and amounts.

Depreciation is the monetary compensation of the cost of depreciation of industrial assets by gradually transferring their value to the products created in the production process.

The total amount of depreciation transferred to manufactured products is determined as the difference between the initial and liquidation value of the general fund.

The objects for calculating depreciation are the fixed assets of an enterprise used on the basis of ownership, economic management and operational management. Depreciation charges on fixed assets are accrued from the first day of the month following the month of their registration. Depreciation is charged until the cost of fixed assets is fully repaid or they are written off due to the termination of ownership or their failure.

Depreciation, as the process of transferring the cost of fixed assets and intangible assets to the cost of products, works, services produced with their use in the process entrepreneurial activity, including the distribution in an equivalent manner of the cost of objects between reporting periods that together constitute the useful life of each of them, the systematic inclusion of depreciation charges in the cost of production or circulation.

Service life is the period during which fixed assets or intangible assets retain their consumer properties.

The objectivity of the depreciation rate depends on the standard service life. Standard service life - established by regulatory legal acts and/or a commission organized for the implementation of depreciation policy, the period of depreciation of individual objects, general fund and/or selected groups of items of depreciable property. If the established standard is too high, then physical wear and tear occurs before the cost of fixed capital is transferred to finished products.

Depreciable cost is the cost from which depreciation charges are calculated. The annual rate of depreciation is calculated as the reciprocal of the standard service life of the object. Depreciation is calculated monthly in a linear and non-linear manner.

The straight-line method consists of a uniform, annual depreciation accrued by the organization over the entire standard service life or useful life of an object of fixed assets or intangible assets. The annual rates of depreciation in the first and each of the subsequent years of the life of an object for one owner are the same. The annual amount of depreciation is determined based on the depreciable cost and the standard service life or useful life by multiplying the cost by the accepted annual linear depreciation rate. Calculation of depreciation using the straight-line method:

where - depreciation charges;

Depreciation cost;

– useful life;

depreciation rate.

The non-linear method consists in unevenly accruing depreciation over the years during the useful life of an object of fixed assets or intangible assets. The use of this method allows you to reimburse most(up to 60-75%) of the value of fixed assets already in the first half of their use.

With the non-linear method, the annual amount of depreciation is calculated using the sum of numbers of years method or the reducing balance method with an acceleration factor of 1 to 2.5 times. The rate of depreciation in the first and each of subsequent years may be different.

The sum of the numbers of years with the useful life of an object is determined by the formula:

where is the useful life.

With the declining balance method, the annual amount of accrued depreciation is calculated based on the under-depreciated cost determined at the beginning of the reporting year and the depreciation rate calculated on the basis of the useful life of the object and the acceleration factor adopted by the organization.

The productive method of calculating depreciation is to calculate depreciation based on the depreciated cost of the object and the ratio of natural indicators of the volume of products produced in the current period to the resource of the object.

2 Assessment of the condition and efficiency of use of fixed capital (using the example of the branch of RUPP "BelAZ" in Mogilev)

2.1 a brief description of enterprises

Branch of the Republican Unitary industrial enterprise"BelAZ" was founded in accordance with the Decree of the President of the Republic of Belarus dated February 28, 2006 No. 129 URP "MoAZ named after. S. M. Kirov" based on Mogilevsky automobile plant named after S.M. Kirov in Mogilev as a result of joining RUPP "BelAZ" as a branch. The main activity is mechanical engineering.

Is largest enterprise in the CIS and neighboring countries for the production of automotive equipment intended for the construction of roads, dams, quarry work, underground mining of ore materials and construction of tunnels and bridges. The main types of products manufactured by the plant are: self-propelled scrapers, dump trucks, front-end loaders, bulldozers, concrete mixer trucks, semi-trailer concrete mixer trucks, underground road trains, dump truck trains, mine dump trucks, underground concrete mixer trucks, self-propelled rollers, garbage trucks and electric cars.

The branch produces consumer goods, including hardware and lock products, tool products, spare parts for passenger cars, mattresses, medical equipment and other consumer goods.

The Mogilev Automobile Plant was established in 1935 as an automobile repair plant. Over the past period, the production profile has changed several times. At the end of the 30s, the Mogilev ARZ was actually a defense enterprise - a significant part of its program consisted of special orders. It was the main repair base for automobile and armored units of the Western Special Military District. During the Great Patriotic War The plant was evacuated to the Volga region and became part of an engine-building giant.

In the post-war period, the plant produced steam power plants, which were intended primarily for electrification and heating of agriculture and local industry. From 1955 to 1968, the plant produced electric bridge cranes and oil fillers based on GAZ vehicles, and since 1960 it switched to the production of earth-moving, transport and automotive equipment. The transition to this production is carried out with the direct participation of the Minsk Automobile Plant, a close relationship with which continues to this day.

Mogilev Automobile Plant is one of largest producers earthmoving and transport equipment in the CIS countries, has its own design and experimental base, develops, produces and markets road construction equipment and special-purpose vehicles.

The plant includes foundry, procurement, welding, tool, machining and assembly production. Having thirty years of experience in the creation and production of earthmoving and transport equipment, the plant is a monopolist in the CIS countries in the development and production of self-propelled scrapers, road trains for working in underground conditions, all-wheel drive vehicles, dump trucks, and airfield tractors for towing aircraft.

The plant is engaged not only in production, but also has a social and cultural complex. The main goal enterprise policy is high quality manufactured products, their competitiveness in domestic and foreign markets as the basis for sustainable dynamic development, increasing living standards, and maintaining employment.

The main performance indicators of the enterprise are reflected in Table 1.

Table 1 - Main performance indicators of the Branch of RUPP "BelAZ" for 2006-2007.

In millions of rubles

fixed capital profit loss

As can be seen from Table 1, the enterprise is not profitable, because makes no profit and operates at a loss. In 2006, the company incurred losses, which in 2007 decreased by 6.29%.

Operating and non-operating expenses increased significantly (by 290 and 176%, respectively). Operating income increased sharply - by 376%, non-operating income increased by 50%.

Today, the branch of RUPP "BelAZ" is an unprofitable enterprise and requires new investments in fixed capital and the introduction of new technologies.

2.2 Analysis of the availability, composition and movement of fixed assets

During this analysis, it is necessary to assess the size, dynamics and structure of the enterprise’s capital investments in fixed assets, to identify the main functional features production activities analyzed business entity.

For this purpose, a comparison is made of data at the beginning and end of the reporting period for all elements of fixed assets (Table 2).

Table 2 – Composition and structure of fixed assets

Group of fixed assets	For the beginning of the year		At the end of the year		Absolute deviation
Group of fixed assets	Amount, million rubles	Ud. weight, %	Amount, million rubles	Ud. weight, %	Amount, million rubles	Ud. weight, %
1. OPF	255052	96,43	267626	96,252	12574	-0,178
1.1 buildings	109250	41,305	122605	44,095	13355	2,79
1.2 structures	10947	4,139	12065	4,339	1118	0,2
1.3transmission devices	2110	0,798	2273	0,817	163	0,02
1.4 machinery and equipment	121778	46,042	118751	42,709	-3027	-3,333
1.5 vehicles	4278	1,617	4458	1,603	180	-0,014
1.6 tools, equipment and accessories	6649	2,514	7474	2,688	825	0,174
2. PF of other industries	198	0,075	81	0,029	-117	-0,046
	9245	3,495	10341	3,719	1096	0,224
3.1 trade and catering	1257	0,475	1396	0,502	139	0,027
3.2 housing sector	2127	0,804	2127	0,765	0	-0,039
3.3 Health and physical education	3626	1,371	4316	1,552	690	0,181
3.4education	333	0,126	381	0,137	48	0,011
3.5 culture and art	1902	0,719	2121	0,763	219	0,044
Total fixed assets	264495	100	278048	100	13553	-

By comparing data at the beginning and end of the reporting period for all elements of fixed assets, the following conclusions can be drawn:

a) The largest share in the structure of fixed assets is occupied by general public funds (96%), followed by public funds of industries providing services (3.7%) and the smallest by general fund of other industries (0.03%).

b) For reporting period the share of general public funds decreased (by 0.178%), due to a decrease in the share of machinery and equipment (by 3.3%) and vehicles (by 0.014%).

c) The share of PF in other industries decreased by 0.046%.

d) The share of PF in other industries providing services increased by 0.22%, although the share of the housing sector decreased by 0.04%.

Fixed production assets are divided into active and passive. Active industrial assets include machines and equipment directly used in the performance of work, tools and vehicles. Buildings and structures, transmission devices can be classified as passive. Such detail is necessary to identify reserves for increasing the efficiency of using fixed assets based on optimizing their structure. Of great interest in this case is the ratio of the active and passive parts, since capital productivity, capital profitability and the financial condition of the enterprise largely depend on their optimal combination. Data on the availability and movement of fixed assets can be seen in Table 3.

According to Table 3, we can say that during the reporting year the following changes occurred in the availability and structure of fixed assets: the cost of fixed assets increased by 13,553 million rubles. or by 5.12%, incl. OPF – by 12,574 million rubles, while their active part decreased by 1.72%, which cannot be assessed positively, and the passive part increased by 11.93%.

The PF of other industries decreased significantly - by 59%, PF providing services increased by 11.86%.

Table 3 – Analysis of the presence, movement and composition of the OPF

Group of fixed assets	Availability at the beginning of the year		Received in the reporting year			Dissolved in the reporting year			Availability at the end of the year		Rate of change, %
Group of fixed assets	million rubles	share, %	Total	introduced	share of introduced	Total	liquidated	liquidated	million rubles	share, %	Rate of change, %
1OPF, including:	255052	96,43	22084	1649	91,36	9510	7854	97,46	267626	96,25	104,93
active part	132705	50,17	7460	1200	66,48	9482	7830	97,16	130683	47,00	98,48
passive part	122347	46,26	14624	449	24,88	28	24	0,30	136943	49,25	111,93
2. PF of other industries	198	0,07	9	0	0	126	126	1,56	81	0,03	40,91
3. PF of other industries providing services	9245	3,50	1175	156	8,64	79	79	0,98	10341	3,72	111,86
Total fixed assets	264495	100	23268	1805	100	9715	8059	100	278048	100	105,12

Analysis of the movement and technical condition of fixed production assets is of great importance. To do this, indicators such as the renewal coefficient, which characterizes the share of new funds in their total value at the end of the year, the retirement rate, the growth rate, the depreciation rate and the suitability rate, are calculated, the calculation of which is presented in Table 4.

Table 4 – Assessment of the movement and technical condition of the OPF

Indicators of movement and technical condition of the OPF	Calculation algorithm	Calculation		Absolute deviation
Indicators of movement and technical condition of the OPF	Calculation algorithm	2006	2007	Absolute deviation
Renewal rate:
fixed assets	1788/200082 =0,0089	23268/278048 = 0,0837	0,075
OPF	1333/190639 =0,007	22084/267626 =0,0825	0,076
active part	1136/114707 =0,01	7460/130683 = 0,0571	0,047
passive part	197/75932 =0,0026	14624/136943 = 0,1068	0,104
Attrition rate:
fixed assets	10216/192767 =0,053	9715/264495 = 0,0367	-0,016
OPF	9995/184666 =0,054	9510/255052 =0,0373	-0,017
active part	9323/122242 =0,076	9482/132705 = 0,0715	-0,005
passive part	672/63076 =0,01	28/122347 = 0,0002	-0,001
Growth rate:
fixed assets	(1788-10216)/ 200082=-0,042	(23268-9715)/ 278048=0,0487	0,091
OPF	(1333-9995)/ 190632=-0,045	(22084-9510)/ 267626= 0,0470	0,092
active part	(1136-9323)/ 114707=-0,07	(7460-9482)/ 130683=-0,0155	-0,086
passive part	(197-672)/ 75932=-0,006	(14624-28)/ 136943= 0,1066	0,113
Wear rate:
fixed assets	(192767-47866)/ 192767 =0,752	(264495-88222)/ 264495=0,666	-0,086
OPF	(184666-43375)/ 184666= 0,765	(255052-82929)/ 255052=0,675	-0,09
active part	(122242-7967)/ 122242 =0,935	(132705-8218)/ 132705=0,938	0,003
passive part	(62424-35408)/ 62424=0,433	(122347-74711)/ 122347=0,389	-0,044
Usability factor:
fixed assets	1-0,752=0,248	1-0,666=0,334	0,086
OPF	1-0,765=0,235	1-0,675=0,325	0,09
active part	1-0,935=0,065	1-0,938=0,062	-0,003
passive part	1-0,433=0,567	1-0,389=0,611	0,044

As can be seen from Table 4, in 2007 the company significantly updated its fixed assets. When compared with 2006, the renewal coefficient increased by 0.075. The OPF renewal coefficient increased by 0.076.

In 2007, fewer fixed assets were retired and this was reflected in a decrease in the coefficient by 0.016. For fixed production assets, the coefficient decreased by 0.017, for the active part - by 0.005, and for the passive part - by 0.001.

In 2007, there was a significant increase in fixed assets (the coefficient increased by 0.091). For the main production assets, this increase was 0.092, but for their active part there was a decrease of 0086, but for the passive part there was an increase of 0.113.

Having calculated the depreciation coefficient, we can conclude that the depreciation of the enterprise's fixed assets is very high. With the introduction of new fixed assets, the depreciation coefficient decreased by 0.086, and the depreciation coefficient of fixed production assets decreased by 0.09. As for the depreciation coefficient of the active part of fixed assets, it increased by 0.003, and the passive part decreased by 0.044.

The service life ratios of fixed assets in 2007 compared to 2006 showed slight changes, which are also associated with the introduction of new fixed assets. The service life coefficient of fixed assets increased by 0.086, fixed production assets - by 0.09, but the service life coefficient of the active part decreased by 0.003. For the passive part, the coefficient increased by 0.044

Thus, from the analysis of Table 4 it is clear that fixed assets are worn out by almost 75% and require updating.

2.3 Analysis of the efficiency of use of fixed assets

The final efficiency of using fixed assets is characterized by indicators of capital productivity, capital intensity, capital-labor ratio and profitability. The calculation results are presented in Table 5.

Table 5 – Indicators of efficiency of use of fixed assets

Table 2.5 shows that there have been significant changes in the overall efficiency indicators of the use of fixed assets. The capital-labor ratio increased by 39.8 million rubles. (by 48%). Capital productivity increased by 0.11 million rubles. (by 78.5%). Due to an increase in capital productivity, the capital intensity of products decreased by 3.2 million rubles. (by 44%). The profitability of OPF has increased.

3 Improving the management of enterprise fixed capital

For effective capital management, an enterprise needs to develop its activities in the field of investment and innovation.

The formation and use of various monetary funds to reimburse the costs of capital, its accumulation and consumption is the essence of the mechanism financial management at the enterprise.

Regardless of whether the capital of an enterprise is divided into its own, borrowed, fixed or circulating, constant or variable, it is in the process of continuous movement, taking only various shapes depending on the specific stage of the circulation.

The totality of circulation of various parts of an enterprise’s capital over a period represents its full turnover or reproduction (simple or extended).

The concepts of “non-current assets” and “fixed capital” are identical. Fixed capital includes fixed assets, as well as unfinished long-term investments, intangible assets and new long-term financial investments (investments).

The cost of fixed assets is gradually repaid during their useful life through monthly depreciation charges, which are included in production or distribution costs for the corresponding reporting period.

Fixed capital also includes costs for unfinished capital investments in fixed assets and for the purchase of equipment. This is that part of the costs for the acquisition and construction of fixed assets that has not yet become fixed assets, cannot participate in the process of economic activity, and therefore should not be subject to depreciation.

Long-term financial investments represent costs for equity participation in the authorized capital of other enterprises, for the acquisition of shares and bonds on a long-term basis. The costs of long-term financial investments are repaid depending on the nature and type.

Financial investments also include:

Long-term loans issued to other enterprises against debt obligations;

The value of property transferred for long-term lease under the right of financial leasing. Leasing is a long-term rental of machinery and equipment, in which one entity(lessor) acquires ownership of the leased object with his own or borrowed funds and transfers it to another business entity (lessee) for a period and for a fee for temporary possession and use with or without the right of redemption.

Making a profit today is the result of correct decisions about the proportions of capital investment in fixed and current (working) assets, made even before the start of the enterprise's operating activities. That's why effective management fixed capital presupposes a clear understanding of the specifics of their functioning and reproduction.

Fixed assets and long-term investments in fixed assets have a multifaceted and diverse impact on the financial condition and performance of the enterprise.

Investments in fixed assets (fixed assets) are carried out in the form of capital investments and include costs for new construction, expansion, reconstruction and technical re-equipment operating enterprises, purchase of equipment, tools and inventory, design products and other capital expenses. Capital investments are inextricably linked with sales investment projects. Investment project - justification of the economic feasibility, volume and timing of capital investments, including the necessary documentation, as well as a description of practical actions for making investments (business plan).

Investment policy - component the general financial strategy of the enterprise, which consists in choosing and implementing the most rational ways to expand and update production potential.

When developing an investment policy, an enterprise must be guided by the following principles:

1) Achieving economic, scientific, technical and social effect from the activities under consideration. At the same time, specific methods for assessing efficiency are used for each investment object. Based on the results of this assessment, individual investment projects are selected according to the criterion of efficiency (profitability). All other things being equal, those that provide the enterprise with maximum efficiency are accepted for implementation.

2) The enterprise obtains the greatest profit on invested capital with minimal investment costs.

The source of capital gains and the purpose of investments is the profit (income) received from them. In practice, the mass of profit (P) is compared with investment costs (IC) and their effectiveness is determined.

Innovative enterprise management in its content represents a unique field of activity: here knowledge from the fields of technology, economics and ecology, social psychology and sociology, fundamental and applied sciences, theory and practice, production and its management, strategy and tactics are used and interact. Development itself becomes possible thanks to the genius of human thought, capital accumulation and high-quality productive labor. But this development, being aimed at the benefit of man, enriches labor and human thought, expands the possibilities of capital accumulation due to increased productivity and quality of labor, and thereby creates the conditions for a new stage of development, ensuring its continuity.

Thus, the enterprise, in accordance with its mission and the dynamically changing external environment, needs to build goals for achieving sustainable profits, competitive advantages and survival in the long term. Means of achieving goals, i.e. strategies, in this case serve as intensive development all elements of the production and economic system of the organization, and their innovative development. The first will ensure the preservation of the enterprise's potential in the event that there are no significant changes in the external environment, which is very rare today. The second will ensure an increase in the level of organizational potential, in the case of a stable external environment, or, at a minimum, its preservation, if external environment highly dynamic.

It must also be taken into account that an enterprise can be considered successful only when it achieves its goals. Obviously, one of the main goals for an enterprise is to make a profit. In this case, the current efficiency of the enterprise is determined by the fact that the value it creates turns directly into profit. Every enterprise needs resources to finance its production and trading activities.

From the study it follows that investment and innovation represent the most important economic category of expanded reproduction, playing key role in the implementation of structural changes in the economy and the formation of national economic proportions at the macro level, adequate to market forms of management.

Conclusion

In this course work, the structure of fixed capital, the composition and structure of fixed assets, indicators of the use of fixed production assets were examined, the indicators of the use of general production funds of the branch of RUPP BelAZ were analyzed, and ways to improve the management of fixed capital were identified.

Thus, the following conclusions can be drawn:

1) the enterprise is not profitable, because makes no profit and operates at a loss. In 2006, the company incurred losses, which in 2007 decreased by 6.29%;

2) the largest share in the structure of fixed assets is occupied by general public funds (96%), followed by public funds of industries providing services (3.7%) and the smallest by general fund of other industries (0.03%);

3) in 2007, the company significantly updated its fixed assets, and they also began to retire less. In 2007, there was a significant increase in fixed assets. The depreciation of the enterprise's fixed assets is very high; they are worn out by almost 75% and require renewal.

Today, the branch of RUPP "BelAZ" is an unprofitable enterprise and for effective capital management the company needs to develop its activities in the field of investment and innovation.

List of sources used

1 Enterprise Economics: Textbook. allowance / G.Z. Land. - 3rd ed., rev. and additional - M.: New knowledge, 2006. - 512 p.

2 Titov V.I. Enterprise Economics: Textbook. - M.: Publishing and trading corporation "Dashkov and Co", 2004. - p.

3 Savitskaya G.V. Analysis of the economic activity of the enterprise - Mn.: “Ecoperspective”, 1997.

4 Bashkatova E.I., Zdereva T.A., Stelmakhovsky Yu.S. Valuation of fixed and working capital of an enterprise - K.: graduate School, 1998 - 288 p.

5 Golovanenko S.L. Enterprise economy. -M.: Higher School, 1999 - 352 p.

Ministry of Education and Science of the Russian Federation
Moscow State University of Economics, Statistics and Informatics
Department finance, credit and banking (FCiBD)

Course work
On the topic: “Management of fixed capital of an enterprise”

Completed by: 4th year student of group VNF-402 Alina Kuznetsova

Checked by: Ronova G.N.

Moscow, 2011

Table of contents

Introduction

Rational and economical use of fixed assets is the primary task of the enterprise. Having a clear understanding of each element of fixed assets in the production process, their physical and moral wear and tear, and the factors that influence the use of fixed assets, it is possible to identify methods by which the efficiency of using fixed assets and production capacities of the enterprise is increased, ensuring a reduction in production costs and growth in labor productivity.
Fixed assets are means of labor that are repeatedly involved in the production process, while maintaining their natural form, and their value is transferred to the manufactured products in parts as they wear out.
The purpose of this course work is to study the structure of fixed capital and improve its management.
To achieve the goal, it is necessary to solve the following tasks:
- Study the structure of fixed capital, as well as the composition and structure of fixed assets;
- Consider the indicators of use of fixed production assets;
- Identify ways to improve fixed capital management.

Chapter 1 Fixed capital of the enterprise

1.1 Concept and structure of fixed capital.

Fixed assets are means of labor that are repeatedly involved in the production process, while maintaining their natural form, gradually wearing out, and transfer their value in parts to newly created products.
The fixed capital of the enterprise consists of the following elements:

Fixed assets	Intangible assets	Long-term financial investments
A set of material assets used as means of labor and operating in kind for a long time both in the sphere of material production and in the non-production sphere	Various rights of use. Patents and organizational expenses	Investments in government securities(bonds and other debt obligations), securities and in the authorized capitals of other organizations, as well as loans provided to other organizations on the territory of the Russian Federation and abroad

Let's take a closer look at these elements:
1. Fixed assets include: buildings, structures, transmission devices, working and power machines and equipment, measuring and control instruments and devices, computer equipment, vehicles, tools, production and household equipment and accessories, working and productive livestock, perennial plantings, on-farm roads and other fixed assets. Fixed assets also include capital investments in land improvement (reclamation, drainage, irrigation and other works) and in leased buildings, structures, equipment and other objects related to fixed assets. Capital investments in perennial plantings and land improvement are included in fixed assets annually in the amount of costs related to the areas accepted for operation, regardless of the completion of the entire complex of works.
Fixed assets include those owned by the organization land, environmental management objects (water, subsoil and other natural resources). Completed capital expenditures in leased buildings, structures, equipment and other objects related to fixed assets are credited by the tenant to its own fixed assets in the amount of actual expenses, unless otherwise provided by the lease agreement.
2. Intangible assets include rights arising from:

from copyright and other agreements for works of science, literature, art and objects of related rights, for computer programs, databases, etc.;

from patents for inventions, industrial designs, breeding achievements;

from certificates for utility models, trademarks and service marks or licensing agreements for their use;

from rights to “know-how”, etc.

In addition, intangible assets include rights to use land, natural resources and organizational expenses.
Intangible assets are reflected in accounting and reporting in the amount of costs of acquisition, production and costs of bringing them to a state in which they are suitable for use for the intended purposes. For objects for which cost repayment is carried out, intangible assets evenly (monthly) transfer their initial cost to production or distribution costs according to standards determined by the organization based on the established period of their useful life. For intangible assets for which it is impossible to determine the useful life, value transfer rates are established for ten years (but not more than the life of the organization).
3. Long-term financial investments
Financial investments are taken into account in the amount of actual costs for the investor. For government securities, the difference between the amount of actual acquisition costs and the nominal value during their circulation period is allowed to be applied evenly (monthly) to the financial results of the organization, or to a decrease in funding (funds) of the budget organization.
Shares and shares that have not been fully paid are shown on the asset side of the balance sheet at their full purchase price, with the outstanding amount assigned to creditors in the liability side of the balance sheet in cases where the investor has the right to receive dividends and bears full liability for these investments. In other cases, amounts contributed to the shares and shares to be acquired are shown in the balance sheet asset under the item debtors. An organization's investments in shares of other organizations listed on a stock exchange or at special auctions, the quotation of which is regularly published, when compiling the annual balance sheet, are reflected at the end of the year at market value, if the latter is lower than book value. This adjustment is made to the amount of the reserve to secure investments in securities created due to the financial results of the organization or a decrease in funding (funds) of the budget organization.
It should be noted that fixed capital also includes capital investments in unfinished construction. Capital investments include the costs of construction and installation work, the purchase of equipment, tools, inventory, other capital work and costs (design and survey, geological exploration and drilling work, costs of land acquisition and resettlement in connection with construction, preparation personnel for newly built organizations and others). Capital investments are reflected in the balance sheet at actual costs for the developer (investor). Capital construction projects that are in temporary operation are not included in fixed assets until they are put into permanent operation. In accounting and reporting, costs for these objects are reflected as unfinished capital investments.

1.2. Fixed assets, their composition and structure.

To organize the production of products and services, any enterprise needs the following components: fixed assets, working capital, work force.
Fixed assets are means of labor that are repeatedly involved in the production process, while maintaining their natural form, gradually wearing out, and transfer their value in parts to newly created products.
These include funds with a service life of more than one year and a cost of more than 100 minimum monthly wages (50 minimum monthly wages for budgetary organizations).
They are divided into production and non-production assets.
Production assets are involved in the process of manufacturing products or providing services. These include: machines, machines, instruments, transmission devices, etc.
Non-production fixed assets are not involved in the process of creating products. These include: residential buildings, kindergartens, clubs, stadiums, clinics, sanatoriums, etc.
To account for fixed assets, determine their composition and structure, their classification is necessary. The following groups and subgroups of fixed production assets are distinguished:

Buildings (architectural and construction objects for industrial purposes: workshop buildings, warehouses, production laboratories, etc.).

Structures (engineering and construction facilities that create conditions for the production process: tunnels, overpasses, car roads, chimneys on a separate foundation, etc.).

Transmission devices (devices for transmitting electricity, liquid and gaseous substances: electrical networks, heating networks, gas networks, transmissions, etc.).

Machinery and equipment including:

4.1 Power machines and equipment (devices for generating, converting and distributing energy: generators, electric motors, steam engines, turbines, internal combustion engines, power transformers, etc.).

4.2. Working machines and equipment (equipment designed for mechanical, chemical and thermal effects on objects of labor: metal-cutting machines, presses, thermal furnaces, electric furnaces, etc.).

4.3. Measuring and regulating instruments and devices, laboratory equipment (instruments and devices for regulation, measurement and control production processes, conducting laboratory tests and research).

4.4. Computer technology (tools for accelerating computational processes and logical operations: computers, equipment for collecting, recording and transmitting information, etc.).

4.5. Automatic machines, equipment and lines (equipment where all operations are performed without direct human intervention: automatic machines, automatic production lines, flexible production systems, etc.).

4.6. Other machinery and equipment, equipment not included in the above groups (fire engines, telephone exchange equipment).

Vehicles (diesel locomotives, wagons, cars, motorcycles, cars, trolleys, etc., except for conveyors and transporters included in production equipment).

Tools (cutting, impact, pressing, compacting, as well as various devices for fastening, mounting, etc.), except for special tools and special equipment.

Production equipment and accessories (items to facilitate production operations: work tables, workbenches, fences, fans, containers, racks, etc.).

Household equipment (office and household supplies: tables, cabinets, hangers, typewriters, safes, duplicating machines, etc.).

Other fixed assets. This group includes library collections, museum values, etc.
The share (in percentage) of various groups of fixed assets in their total value at the enterprise represents the structure of fixed assets. Depending on the degree of direct impact on the objects of labor and the production capacity of the enterprise, fixed production assets are divided into active and passive. The active part of fixed assets includes machinery and equipment, vehicles, and tools. The passive part of fixed assets includes all other groups of fixed assets. They create conditions for the normal operation of the enterprise.

1.3. Intangible assets, their composition and structure

Accounting for intangible assets is carried out in accordance with PBU-14/2000 “Accounting for intangible assets”.
Intangible assets include assets that do not have a physical form, are used for the production of products (work performed, services provided) or for the management needs of the organization and are capable of generating income for their owner in the future. In this case, their useful life must be more than 12 months.
The following assets can be recognized as intangible assets:
- identifiable (having characteristics that distinguish this object from others, including similar ones) and not having a material (physical) form;
- used in the activities of the organization;
- capable of bringing future economic benefits to the organization;
- the useful life of which exceeds 12 months;
- the value of which can be measured with sufficient reliability, i.e. there is documentary evidence of the cost, as well as the costs associated with their acquisition (creation);
- if there are documents confirming the rights of the copyright holder.
In the absence of any of the above criteria, the costs incurred are not recognized as intangible assets and are expenses of the organization.
Classification of intangible assets.
There are 4 types of intangible assets:
- objects of intellectual property;
- rights to use natural resources;
- deferred costs;
- firm price.
Other intangible assets - licenses to carry out a type of activity, to carry out foreign trade and quota transactions, to use the experience of specialists, rights trust management property.
License - a special permit to carry out a type of activity subject to mandatory compliance with licensing requirements and conditions, issued by the licensing authority to the license applicant or licensee.
The license is issued for a period of no less than 5 and no more than 10 years. Upon expiration of the license, it can be extended at the request of the licensee.
The following are not considered intangible assets:
- intellectual and business qualities of the organization’s personnel, their qualifications and ability to work, since they are inseparable from their carriers and cannot be used without them;
- unfinished and (or) not formalized in the manner prescribed by law, research, development and technological work;
- financial instruments of the derivatives market that provide the right to carry out a specific transaction under certain conditions.
Intellectual property objects are divided into two types: those regulated by patent law (industrial property objects) and those regulated by copyright law.
Patent law protects the content of a work. To protect inventions, utility models, industrial designs, trade names, trademarks, service marks, they must be registered according to the established procedure with the relevant authorities. The list of objects protected by patent law is exhaustive.
Invention is subject to legal protection if it is new, has an inventive step and is industrially applicable (device, method, substance, strain, microorganism, plant and animal cell cultures) or is a known device, method, substance, strain, but has a new application. The main forms of use of objects protected by patent law are the transfer of rights under a license agreement and the introduction of the object as a contribution to the authorized capital of the organization. A license agreement differs significantly from a sales and rental agreement, since the patent owner is not given the invention itself under the license agreement, but only the exclusive right to use it; the patent owner can transfer the right to use the invention to a wide range of third parties and use the invention himself. The cost of objects protected by a patent consists of the costs of their acquisition, legal, consulting and other costs.
A patent invention is issued for a period of up to 20 years and certifies the priority of the invention, authorship, as well as the exclusive right to use it.
Industrial model- an artistic and design solution for a product that determines its appearance. Distinctive features The patentability of an industrial design is its novelty, originality and industrial application. Novelty includes a set of essential features of an industrial design that determine the aesthetic and (or) ergonomic features of a product that are not known from information that became publicly available in the world before the priority date of this design. The originality of an industrial design is determined by its essential features, which determine the creative nature of the aesthetic features of the product. A design is considered industrially applicable if it can be reproduced many times by manufacturing a specific product.
Industrial designs, even if they have signs of novelty, originality and industrial applicability, are not subject to patentability if the technical function of the product predominates in the decisions of their manufacture.
Such products include:
- architectural objects (except for small architectural forms), industrial, hydraulic and other stationary structures;
- printed products;
- objects of unstable shape made of liquid, gaseous, granular or similar substances;
- products that are contrary to public interest, principles of humanity and morality.
A patent for an industrial design is issued for a period of up to 10 years and can be extended for another period of up to 5 years.
A utility model is a structural design made up of component parts. The distinctive features of the utility model are novelty and industrial applicability. Legal protection of a utility model is provided in the presence of a certificate issued by the Patent Department for a period of up to 10 years.

Chapter 2. Management of fixed capital of an enterprise.

2.1. Indicators of the use of fixed production assets

(OPF)

The efficiency of using fixed production assets is assessed using general and specific indicators of their use. General indicators express the final result of using the entire set of fixed assets. These include:
1) capital productivity (FE) - the ratio of the cost of products produced using fixed production assets for the year to the average annual cost of these assets:

where TP (V) – commercial products, rub. (or B – revenue from sales of products, rub.);
- cost of OPF.
Capital productivity characterizes the volume of production per 1 ruble invested in fixed assets.
Factors for the growth of capital productivity are:
- increasing equipment productivity as a result of technical re-equipment and reconstruction;
- increasing the equipment shift ratio;
- improved use of time and power;
- acceleration of the development of newly commissioned capacities;
- reduction in cost per unit of power;
- replacement of manual labor with machine labor.
2) capital intensity (FE) is the average annual cost of fixed production assets per 1 ruble. annual production volume. Capital intensity is an indicator inverse to capital productivity and is determined by the formula:

Capital intensity is used to determine the need for fixed production assets;
3) capital-labor ratio (FV) is the ratio of the average annual cost of fixed production assets to the average number of industrial production personnel of the enterprise:

where is the average annual number of employees of the organization.
If labor productivity at an enterprise grows at a faster rate compared to the capital-labor ratio, this indicates the efficient use of the enterprise's fixed production assets;
4) profitability of production - the amount of profit per 1 ruble. the entire set of funds:

Particular indicators characterize the level of use of the most active part of fixed production assets—working machines and equipment. These include:
1) extensive equipment load factor, characterizing the level of equipment use over time. The coefficient of extensive use of equipment (Kext) is defined as the ratio of the actual number of operating hours of equipment (tf) to the number of standard operating hours (tn):

2) the equipment shift coefficient (Kcm) characterizes its extensive use and shows how many shifts a piece of equipment has worked:

where C is the sum of machine shifts worked per day;
K - the amount of installed equipment.
3) intensive equipment load factor, characterizing the level of equipment utilization in terms of power and productivity. The coefficient of intensive use of equipment (Kint) is defined as the ratio of the actual productivity of the equipment (Pf) to the standard (Pn):

Low values of private indicators indicate ineffective use of equipment.
OPFs have initial, residual and replacement costs.
The initial cost of OPF is formed from the costs of their acquisition, construction and production, including delivery, installation and installation costs.
Residual value of the fixed assets is the difference between the original cost and the amount of depreciation to which the fixed assets are subjected:

- depreciation rate;
- period of operation, years.
Replacement cost is the cost of reproduction of the PF in modern conditions. Set during the revaluation of the general fund:

where is the initial cost, rub.;
P – average annual growth rate of labor productivity;
t is the time lag (the period of time during which the invested capital does not produce a return in the form of revenue from the sale of products).
The average annual cost of the commissioned funds is determined by dividing their cost by 12 and multiplying the result by the number of full months during which the commissioned funds will be operated.
The average annual cost of retiring OPF is determined by dividing their value by 12 and multiplying the result by the number of full months remaining until the end of the year from the time of their disposal.
The main production equipment is divided into:
a) Cash is equipment listed on the balance sheet and included in the inventory lists of the enterprise, regardless of condition and location;
b) Installed - equipment is considered to be located in production premises, operating, inactive, in reserve and on conservation. It does not include equipment that arrived at the enterprise, but was not installed and put into operation;
c) Operating - this is equipment that produces products.
A general assessment of the movement of OPF is given by the coefficients of renewal, retirement, growth, suitability and wear (respectively Ko; Kv; Kg; Ki).
The renewal coefficient (Ko) reflects the intensity of the update of the OPF:

where is the cost of the general public fund received in the reporting year;
- PF cost at the end of the year.
The retirement coefficient (Kv) characterizes the degree of intensity of disposal of the general fund:

where is the cost of OPFs retired in the reporting year;

The technical condition of the OPF is characterized by the suitability coefficient (Kg):

where is the residual value of OPF;
- initial cost of OPF;
- wear coefficient.
The wear coefficient (Ci) is determined by:

where is the amount of accrued depreciation;
- the cost of PF at the beginning of the year.
Fixed assets growth rate (
etc.................

Introduction 2

1. Theoretical aspects of studying the fixed capital of an organization 5

1.1 The concept and essence of the enterprise’s fixed capital 5

1.2 Types of accounting and methods for assessing fixed capital, indicators of its use 10

1.3 Efficiency of use of fixed capital 12

2. Analysis of fixed capital management using the example of Vesa LLC 18

2.1 Characteristics of the enterprise’s activities 18

2.2 Analysis of the efficiency and intensity of use of the enterprise’s fixed capital 21

Conclusion 24

References 28

Introduction

The topic of the course work is “Features of managing an organization’s fixed capital.”

The relevance of the chosen topic is due to the fact that the purpose of any commercial organization- this is making a profit. To achieve this, it is necessary to increase production efficiency, the competitiveness of products and services based on the introduction of scientific and technological progress, effective forms of business and production management, overcoming mismanagement, and intensifying initiative and entrepreneurship.

Most of the production capacity, retail space, technological lines, and equipment are not used efficiently enough. Under the current taxation procedure, this situation leads to an increase in the costs of preserving and maintaining the existing material and technical base, an increase in the tax burden, and a decrease in the competitiveness of consumer cooperation organizations compared to other market entities.

Thus, fixed capital, as the most important production factor, due to the low efficiency of its use, becomes one of the sources of losses. The situation is aggravated by the high degree of depreciation of fixed assets, insufficient attention to such elements of fixed capital as intangible assets and long-term financial investments. In these conditions, it is necessary to search for new approaches to managing fixed capital.

Becoming information society in Russia, it strengthens the role and importance of fixed capital as an element that contributes to the creation of conditions for the formation of a new quality of economic growth and an increase in its social orientation. Changes occurring in production forces and production relations, characterized by the emergence of a knowledge-based economy, make it possible to define fixed capital as an expression of an artificially created, including intellectual, system, consisting of various subsystems, structural and human capital, capable of generating income for its owner and increase the wealth of society, promoting effective development economic system, without depleting resources, with the ability to improve human living conditions, radically changing the content of his work. New technologies, which are the result of shifts in the field of R&D, and, therefore, a condition for the formation of a new technological structure, change not only the natural material content of fixed capital as an element of the productive forces, they require the development of labor resources, human abilities, changes in working capital, and, consequently , development of economic relations. Changing all these elements of the economic system and their interconnection leads to economic growth of the entire economic system.

Issues of management of fixed capital, its formation and effective use reflected in the works of domestic and foreign scientists, among them: Andreev S.I., Babkov I.A., Balabanov I.T., Blank I.A., Vakhrin P.I., Vorotilov V.A., Dornbusch R ., Ivanov E.A., Kantor E.L., Marks K., Raitsky K.A., Notkin A.I., Samuelson P., Sergeev I.V., Smagin S.N., Smith A., Fischer S., Khachaturov T.S. and etc.

The object of the course work is fixed capital.

The subject is the features of fixed capital management.

The purpose of the course work is to study the features of managing an organization's fixed capital.

In accordance with the goal, it is necessary to solve the following tasks:

To uncover theoretical aspects essence and features of fixed capital.

Consider the types of accounting and methods for assessing fixed capital, indicators of its use.

Reveal the efficiency of using fixed capital

Analyze the efficiency of using fixed capital using the example of Vesa LLC.

When writing the course work, methods such as studying and analyzing literature were used, analytical method, generalization method.

The theoretical basis was the educational materials of domestic and foreign authors in the field of studying fixed capital, and information from Internet servers was also analyzed.

The structure of the course work: introduction, two chapters, conclusion.

The introduction reflects the relevance of the study of the chosen topic, purpose, objectives, object and subject of the study, methodology and theoretical basis.

The first chapter of the course work examines the theoretical aspects of managing the fixed capital of an enterprise.

The second chapter describes the activities of Vesa LLC and analyzes the efficiency of using the fixed capital of this organization.

The conclusion contains the results of the study, conclusions on the assigned tasks.

1. Theoretical aspects of studying the fixed capital of an organization

1 The concept and essence of fixed capital of an enterprise

To carry out economic activities, organizations use property, the component of which is fixed capital.

Fixed capital is the part of advanced capital invested in non-current assets.

Fixed capital is part of the financial resources (equity and borrowed capital) of an organization invested for the acquisition or creation of new fixed assets for production and non-production purposes. This is a materialized part of equity and borrowed capital, used in the process of production and sale of products, goods, works, services in order to generate income. An essential segment of fixed capital is fixed assets (funds) - part of the property used as means of labor in the process of producing products, performing work and providing services, or for managing an organization for a period exceeding 12 months. Fixed capital also includes intangible assets, long-term financial investments that currently provide income to the organization or will generate income in the future. All listed items and fixed assets are combined in the balance sheet in section I “Non-current assets”.

Fixed capital is the monetary valuation of fixed assets as material assets that have a long period of operation.

Fixed capital for an enterprise can be supplied through the following channels:

) as a contribution to the authorized capital of the enterprise;

) as a result of capital investments;

) as a result of gratuitous transfer;

) due to rent.

The main sources of information for analyzing the formation and allocation of capital of an enterprise are the reporting balance sheet, statements of profits and losses, changes in capital, cash flows, the intended use of funds received, annex to the balance sheet and other forms of reporting, primary and analytical accounting data , which decipher and detail individual balance sheet items.

The components of fixed capital are:

intangible assets;

capital investments;

long-term financial investments;

fixed assets.

The intangible assets of an enterprise are characterized by:

lack of material (physical) form;

long-term use;

ability to generate income.

As can be seen from this listing, the composition of intangible assets is very large. In addition, intangible assets often lead to some problems.

When accounting for intangible assets, as in the case of tangible assets, the main problematic issues are the determination of the initial cost, useful life and method of depreciation. The initial cost of intangible assets is usually equal to the cost of their acquisition, including legal costs and other expenses. There are cases where intangible assets are acquired in exchange for the issue of new shares. In this case, their value is assessed at the level of the market value of the issued block of shares. Intangible assets are amortized by periodically expensing a portion of their cost over their useful life.

Fixed assets are part of the property used as means of labor in the production of products, performance of work or provision of services, or for the management of an organization for a period exceeding 12 months. Items used for a period of less than 12 months are not considered fixed assets and are taken into account by the organization as assets in circulation, regardless of their cost. Useful life is the period during which an item of fixed assets generates income or serves to fulfill the goals of the enterprise. For certain groups of fixed assets, the useful life is determined based on the quantity of products or other natural indicator the amount of work expected to be received as a result of using this object.

Fixed assets include buildings, structures, working and power machines and equipment, measuring and control instruments and devices, computer equipment, vehicles, tools, production and household equipment and supplies, perennial plantings and other fixed assets. Fixed assets also include capital investments in land improvement (drainage, irrigation and other reclamation works) and in leased fixed assets. The composition of fixed assets also takes into account land plots and environmental management facilities (water, subsoil and other natural resources) owned by the organization.

The fixed assets of an enterprise reflect various tangible assets used as means of labor in kind for a long time in the production of products, when performing work or providing services, or for the management needs of organizations. In addition, it is assumed that these funds must generate economic benefits (income) and that they are not purchased for resale in the future.

Organizations use a single standard classification of fixed assets, according to which fixed assets are grouped according to the following characteristics: industry, purpose, type, accessory, use.

Grouping of fixed assets by industry (industry, Agriculture, transport, etc.) allows you to obtain data on their costs in each industry.

According to their purpose, the organization's fixed assets are divided into production fixed assets of the main activity, production fixed assets of other industries, and non-productive fixed assets.

By type, fixed assets of organizations are divided into the following groups: buildings, structures; working and power machines and equipment; measuring and control instruments and devices; Computer Engineering; vehicles; tool; production and household equipment and accessories; working, productive and breeding livestock; many summer plantings; on-farm roads, etc.

Fixed assets also include capital investments for radical improvement of land (drainage, irrigation and other reclamation works) and in leased fixed assets.

Fixed assets include land plots owned by the organization and environmental management facilities (water, subsoil and other natural resources). The classification of fixed assets by type forms the basis of their analytical accounting. According to the degree of use, fixed assets are divided into those in operation, stock (reserve), stages of completion, additional equipment, reconstruction and partial liquidation, conservation. Depending on the existing rights to objects, fixed assets are divided into: those owned by the organization (including those leased); located in the organization's operational management or economic control; received by the organization for rent.

Long-term financial investments as part of the company's fixed capital represent its investments on a long-term basis in government securities, shares, bonds and other securities of other enterprises. They include the firm's investments in subsidiaries and affiliates, as well as in other organizations, loans granted to organizations for a period of more than 12 months, and the value of property transferred for long-term lease under the right of financial leasing (i.e., with the right to purchase or transfer ownership of the property upon expiration of the lease).

Unfinished capital investments include costs of construction and installation work, purchase of buildings, equipment, vehicles, tools, inventory, other durable material objects not formalized by acts of acceptance and transfer of fixed assets, other capital works and costs of design, survey, geological exploration and drilling operations, costs of land acquisition and resettlement in connection with construction, etc.

1.2 Types of accounting and methods for assessing fixed capital, indicators of its use

In everyday practice, fixed assets are accounted for and planned at their original cost - the cost of acquiring or creating fixed assets. Machinery and equipment are accepted onto the balance sheet of the enterprise at the price of their acquisition, including wholesale price of this type of labor, delivery costs and other procurement costs, installation and installation costs.

Based on the original cost, depreciation is calculated, as well as indicators of the use of funds.

Replacement cost is the cost of reproduction of fixed assets at the time of their revaluation, i.e. it reflects the costs of acquiring and creating means of labor in prices and tariffs in force during the period of their revaluation and reproduction.

Residual value is the difference between the original cost and accrued depreciation. It allows you to judge the degree of wear and tear of labor equipment, plan the renewal and repair of fixed assets.

Liquidation value is the value of the surviving elements of fixed assets at the time of their liquidation minus the costs of their liquidation.

The result of better use of fixed assets is, first of all, an increase in production volume. Therefore, a general indicator of the efficiency of fixed production assets should be based on the principle of comparing manufactured products with the entire set of fixed assets used in its production.

This will be an indicator of output per one ruble of the cost of fixed assets, capital productivity. To calculate it, the formula is used:

FOTD = T/F,

where T is the volume of commercial or sold products, rub.;

F - average annual cost of fixed production assets.

The average annual cost of fixed production assets is determined as follows:

F = F1 + (FVIN. × n1) / 12 - (FVYB × n2) / 12

where F1 is the cost of fixed production assets of the enterprise at the beginning of the year, rubles;

FVVOD, FVYB - the cost of fixed production assets introduced (disposed) during the year; n2 - the number of full months from the moment of input (disposal).

Capital intensity of production is the inverse value of capital productivity. It shows the share of the cost of fixed assets attributable to each ruble of output. If capital productivity should tend to increase, then capital intensity should tend to decrease.

The efficiency of an enterprise is largely determined by the level of capital-labor ratio, determined by the ratio of the cost of fixed production assets to the number of workers of the enterprise.

This value must continuously increase, since technical equipment and, consequently, labor productivity depend on it.

To others the most important indicator the efficiency of fixed assets is capital profitability, which is the general level of profitability of assets, characterizing how much profit is received per ruble of fixed assets.

FR = P / OPF,

where P is profit from sales, rub.;

OPF - average annual cost of fixed production assets, rub.

1.3 Efficiency of use of fixed capital

) indicators of extensive use of fixed production assets, reflecting the level of their use over time;

Indicators of extensive use of fixed production assets include the coefficient of extensive use of equipment, the coefficient of equipment shifts, and the equipment load factor.

The coefficient of extensive use of equipment is defined as the ratio of the actual number of hours of operation of the equipment to the number of hours of its normal operation.

The equipment shift coefficient is defined as the ratio of the total number of machine-tool shifts worked by the equipment to the number of machines.

The equipment utilization factor is defined as the ratio of the work shift coefficient to the planned equipment shift.

The coefficient of intensive use of equipment is defined as the ratio of the actual productivity of the equipment to the planned one.

The coefficient of integral use of equipment is defined as the product of the coefficients of extensive and intensive use of equipment and comprehensively characterizes its operation in terms of time and productivity (power). General indicators of fixed capital are capital productivity, capital intensity, capital-labor ratio, and profitability of fixed production assets. General indicators of the efficiency of use of fixed capital include:

) production of products (goods, works, services) at comparable prices minus taxes: by 1 (100.1000) rub. average residual value of all fixed capital, including 1 (100, 1000) rub. average residual value of fixed assets. In this case, the calculation of the average value of all fixed capital takes into account the average value of fixed assets of the main type of activity, intangible assets, and small business enterprises at their residual value, i.e. its real value. The average cost of each of the terms is determined as the sum of the costs at the beginning and end of the year, divided by 2;

) volume of sales of products (goods, works, services) in current prices minus taxes per 1 (100.1000) rub. average residual value of all fixed capital, including 1 (100.1000) rub. average residual value of fixed assets;

) profit from sales (goods, works, services) per 1 (100.1000) rub. average residual value of fixed capital, including 1 (100.1000) rub. average residual value of fixed assets;

) net profit per 1 (100.1000) rub. of the entire fixed capital, including 1 (100.1000) rub. average residual value of fixed assets;

) profit from ordinary activities per 1 (100, 1000) rub. of the entire fixed capital, including 1 (100, 1000) rub. fixed assets;

) use of average annual production capacity.

In practice and in theoretical studies, the indicator “capital productivity” is used as a general indicator of the efficiency of using fixed assets of the main type of activity, which shows how many rubles of products produced over a certain period of time are per ruble of the cost of fixed production assets. This indicator is calculated by the formula:

Fo = VP / Fsr,

where VP is the volume of products produced, thousand rubles;

Fsr - average residual value of fixed assets of the main type of activity, thousand rubles.

General indicators of the efficiency of use of fixed capital also include the degree of use of production capacity. Ermolovich L.E. proposes to determine indicators of its use (Ki.m.) taking into account sold and manufactured products:

Km. = Products sold without taxes, thousand rubles / Average annual production capacity, thousand rubles 100.

This approach to assessing the level of production capacity utilization is due to market economy in that the indicator of sold products is used to determine general indicators of the enterprise’s performance.

Using the indicator of conditionally net production, it is possible to determine the utilization rate of the average annual production capacity based on the amount of wealth created at the enterprise.

The capital-labor ratio is defined as the ratio of the cost of fixed assets to the number of workers at the enterprise who worked in the shift with the greatest number of working hours. The profitability of fixed production assets characterizes the amount of profit per one ruble of fixed capital and is defined as the ratio of profit to the value of assets. In addition to those listed, there are other indicators of the use of fixed assets, including indicators of the technical condition of fixed assets, age, structure of funds, etc.

Thus, in the first chapter of the course work, the theoretical aspects of the features of fixed capital management were considered.

Fixed capital is a monetary valuation of fixed assets as material assets that have a long period of operation.

The components of fixed capital are: intangible assets; capital investments; long-term financial investments; fixed assets.

Fixed capital management includes analysis of the enterprise's fixed capital, ensuring the effective use of the enterprise's fixed capital, formation of principles and optimization of the structure of sources of covering fixed capital

Financing fixed capital comes down to two options. The first of them is based on the fact that the entire volume of this capital is financed by equity. The second option is based on mixed financing - through own and long-term borrowed capital.

2. Analysis of fixed capital management using the example of Vesa LLC

1 Characteristics of the enterprise’s activities

Vesa LLC is one of the Murmansk enterprises engaged in retail trade.

The main specialization of the enterprise under study is the sale of goods light industry. It should be noted that light industry is one of the most natural areas for the formation and development of small businesses.

In accordance with the volume of economic turnover of the enterprise and the number of its employees, the enterprise can be classified as a small business enterprise.

The organizational form of Vesa LLC is a limited liability company.

In a limited liability company, participants are not liable for its obligations and bear the risk of losses associated with the activities of the company, up to the value of their contributions.

The company was founded by one person who is guided in its activities by the Charter, Articles of Association and legislation of the Russian Federation.

The main constituent documents of Vesa LLC:

Certificate of state registration.

Certificate of inclusion in the Unified State Register of Legal Entities.

Certificate of registration with the tax authority.

Lease agreement (certificate of ownership).

The authorized capital of the company is formed in accordance with the provisions Federal Law"On limited liability companies." The founder of the enterprise is individual, whose share in the authorized capital is 100%.

The organization under study has 5 people on staff.

The company is headed by the General Director, who is authorized to make all final decisions regarding the activities of Vesa LLC. Directly subordinate to the director are: commercial director, Chief Accountant. The commercial director organizes the work of employees, concludes transactions, purchases necessary goods, and performs any other actions on behalf of the company under the power of attorney of the general director.

Organizational structure of the enterprise under study is presented in Figure 2.1.

Fig. 2.1 Organizational structure of Vesa LLC

The organizational structure of the company can be described as linear. The linear management system is that all functional divisions of the enterprise report directly to one manager. This system management is typical for small privately owned enterprises.

The linear organizational structure is the simplest type of bureaucratic structure; it embodies the principles of centralism and unity of command. The manager is vested with all types of powers and exercises sole leadership. The manager bears full responsibility for the results of the activities of the facility entrusted to him.

Vesa LLC is a small business enterprise.

Constant updating of the assortment helps attract new customers and retain regular ones. Manufacturer countries represented in the store are Italy, Germany, Russia, Poland, France, USA. The most active buyers are young women aged 20 - 35 years.

The main factors influencing the purchase of clothing are quality and price, and underwear is no exception. As a rule, a potential buyer has an above-average income level, and the most purchased trade marks from producing countries such as Italy and France. The main competitors of Vesa LLC are the following stores: “New Style”, “Babochka”, “Yulia”, “Prince”.

Today, the products of Vesa LLC satisfy the interests of the market: the demand for underwear of the following well-known brands is growing: LILLY ECLIZIA, KRIS LINE, SIELEI, COTONELLA, NATURANA.

Information resources for Vesa LLC, as a rule, are the Internet sites of supplier companies, manufacturing companies, and transport companies.

2.2 Analysis of the efficiency and intensity of use of the enterprise’s fixed capital

fund capital accounting organizational

The main sources of information on the state of fixed capital in an organization are: Form No. 1 (Section 1 of the organization’s balance sheet “Fixed assets and other non-current assets”), Appendix No. 5 to the balance sheet, Form No. 11 “Information on the availability and movement of fixed assets (funds) ) and other non-financial assets", inventory cards, depreciation journal, acceptance and transfer certificates, lease agreements, audit reports.

The analysis of fixed assets covers: their presence and structure, condition and movement, labor availability of funds and the efficiency of their use.

When analyzing fixed assets, such sources of information as the annual financial report (balance sheet) and other accounting reports are used.

Calculation and analysis of efficiency indicators for the use of fixed assets is carried out in Table 2.1.

Table 2.1. Calculation and analysis of efficiency indicators for the use of fixed assets of Vesa LLC

Indicators				Change
1. Revenue from product sales, thousand rubles.
2. Profit from sales of products, thousand rubles.
3. Net profit, thousand rubles.
4. Profit of the reporting year, thousand rubles.
5. Average residual value of fixed assets, thousand rubles.
6. Indicators of efficiency of use of fixed assets:
6.1. Sales of products per 1 rub. fixed assets (page 1 / page 5), rub.
6.2. Profit from sales of products per 1 rub. fixed assets (page 2 / page 5), rub.
6.3. Net profit per 1 rub. fixed assets (page 3 / page 5), rub.
6.4. Profit of the reporting year per 1 rub. fixed assets (page 4 / page 5), rub.

Thus, the increase in sales revenue led to an increase in sales by 1 rub. fixed assets by 0.12 rubles, the return on fixed assets increased in 2009. in terms of profit from product sales from 0.30 to 0.50 rubles.

The capital productivity indicator characterizes the amount of sales revenue per ruble of fixed assets. The formula for calculating the capital productivity indicator is as follows:

where VR is sales revenue, OS is the average annual cost of fixed assets

Fo2008 = 1160000/ 1450000 = 1.10.

Fo2009 =2200000/1800000= 1.22.

As you can see, at the analyzed enterprise, the capital productivity of fixed production assets increased by 0.12 rubles.

Capital intensity of production is the inverse value of capital productivity. It shows the share of the value of fixed assets attributable to each ruble of output. If capital productivity should tend to increase, then capital intensity should decrease.

The capital intensity accordingly amounted to:

Femk.2008 = 1450000 /1160000 = 0.90.

Fem.2009 = 1800000/2200000 = 0.82.

Capital intensity, that is, the number of fixed production assets per 1 ruble. the volume of production decreased by 0.08 rubles. and amounted to in 2009. 0.82 rub.

To increase the efficiency of using fixed capital and fixed production assets, it is necessary to increase the degree of their utilization, especially their active part, and effectively update the assets (i.e. update on time - not earlier than the equipment effectively performs its functions, but not later than the standard deadline operation of equipment and other elements of fixed capital), the use of advanced equipment, modern technologies, qualified and disciplined workers.

Conclusion

Thus, based on the above material, the following conclusions can be drawn.

The first chapter of the course work was devoted to the theoretical aspects of studying the features of managing fixed capital of an enterprise.

Fixed capital is a monetary valuation of fixed assets as material assets that have a long period of operation. The components of fixed capital are: intangible assets; capital investments; long-term financial investments; fixed assets.

Intangible assets include: patents, copyrights, trademarks and trademarks, licenses, franchises and technologies, organizational expenses, goodwill, research and development costs, deferred expenses.

Capital investments (capital investment) involve making decisions on long-term, risky investments in the assets of an enterprise. These decisions are made in the internal social environment of the company and affect all aspects of the life of the enterprise (including company employees).

Fixed capital management includes analysis of the enterprise's fixed capital, ensuring the effective use of the enterprise's fixed capital, the formation of principles and optimization of the structure of sources of covering fixed capital. Financing of fixed capital comes down to two options. The first of them is based on the fact that the entire volume of this capital is financed from equity capital. The second option is based on mixed financing - through own and long-term borrowed capital.

The main indicators of the efficiency of use of fixed capital can be combined into four groups:

) indicators of extensive use of fixed production assets, reflecting the level of their use over time;

) indicators of intensive use of fixed assets, reflecting the level of use by capacity (productivity);

) indicators of the integral use of fixed capital, taking into account the cumulative influence of all factors - both extensive and intensive;

) generalizing indicators of the use of fixed production assets, characterizing various aspects of the use (condition) of fixed capital in the enterprise as a whole.

Improving the use of fixed capital in an enterprise is achieved by:

) freeing the enterprise from excess fixed capital (or leasing it);

) timely and high-quality implementation of planned preventive and major repairs;

) acquisition of high-quality fixed assets;

) increasing the level of qualifications of service personnel;

) timely renewal of fixed assets in order to prevent excessive moral and physical wear and tear;

) improving the quality of raw materials;

) increasing the level of production automation;

) increasing the level of concentration, specialization and combination of production;

) implementation new technology and progressive technology - low-waste, non-waste, energy- and fuel-saving;

) improving the organization of production and labor in order to reduce losses of working time and downtime in the operation of machinery and equipment.

In the second chapter of the course work, the activities of the Vesa LLC enterprise were characterized and the management of fixed capital was analyzed.

Vesa LLC specializes in the sale of underwear in the city of Murmansk. Constant updating of the assortment helps attract new customers and retain regular ones. The manufacturing countries represented in the store are Italy, Germany, Russia, Poland, France, America. The company has 5 people on staff. The organizational structure is linear, which is typical for small enterprises.

Analysis of the efficiency and intensity of use of fixed capital of Vesa LLC for 2008 - 2009. showed that the increase in sales revenue led to an increase in sales by 1 rub. fixed assets by 0.12 rubles, the return on fixed assets increased in 2009. in terms of profit from product sales from 0.30 to 0.50 rubles.

The capital productivity of fixed production assets increased by 0.12 rubles. Capital intensity, that is, the number of fixed production assets per 1 ruble. the volume of production decreased by 0.08 rubles. and compiled in 2002. 0.82 rub.

It should also be noted that at Vesa LLC, production is capital-intensive, since at 1 rub. products account for more than 1 rub. fixed production assets.

Effective management of the enterprise as a whole and high-quality management can increase the efficiency of using fixed capital.

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