Capital is a part of financial resources advanced and invested in production with the aim of making a profit.
Based on the investment object, a distinction is made between fixed and working capital. Fixed capital represents that part of the capital used by the enterprise that is invested in all types of non-current assets.
The composition of non-current assets is represented by the following parts: intangible assets, long-term financial investments, construction in progress, fixed assets and others.
Intangible assets represent rights to future profits. Main categories of intangible assets:
business reputation of the enterprise - “goodwill”;
patents, copyrights and trademarks;
ownership of leased property and its improvements;
development rights and costs of natural resource development;
formulas, technologies and samples (for example, software);
know-how;
trademark;
licenses and other types of property assets.
Long-term financial investments represent the costs of equity participation in authorized capital in other enterprises, for the acquisition of shares and bonds on a long-term basis. This also includes subsidiaries and dependent companies, loans granted for a period of more than 12 months, the value of property transferred for long-term lease under the right of financial leasing (with the right to purchase or transfer ownership of the property upon expiration of the lease term).
Unfinished construction includes the costs of construction and installation work not formalized by acceptance certificates - transfer of fixed assets, the acquisition of buildings, equipment, vehicles and other durable material objects, other capital works and costs (design and survey, costs of land allocation, training of personnel for newly built enterprises and others).
Fixed assets are part of the enterprise’s property used as means of labor in the production of products (performance of work, provision of services).
They are not classified as fixed assets and are included in working capital items used for a period of less than 12 months, regardless of their value, items with a value on the date of acquisition of no more than one hundred times the minimum monthly wage established by law, regardless of their period beneficial use.
The main assets include:
Buildings and structures;
Workers and power machines, equipment;
Measuring and control instruments and devices, computer technology;
Vehicles;
Tool;
Industrial and household equipment and accessories;
Working, productive and breeding livestock, perennial plantings and other fixed assets.
Fixed assets include land plots owned by the enterprise and environmental management facilities (water, subsoil and other natural resources).
Fixed assets include capital investments for land improvement
(various types reclamation works - drainage, irrigation, etc.) and into leased fixed assets.
In different sectors of the economy, the structure of fixed assets may differ significantly, as it reflects the technical equipment, technology features, specialization and organization of production in these sectors.
Fixed assets are part of the property of an enterprise that transfers its value to a newly created product in parts over several production cycles.

Sources of funding
Financing of the process of formation of fixed assets can be carried out from the following main sources:
founders' funds transferred at the time of creation of the company or during its operation;
the enterprise's own resources created in the process of its activities;
funds received in the form of targeted bank loans;
allocations from budgets of various levels and off-budget funds.
Sources of financing for the reproduction of fixed assets are divided into own and attracted.
Own sources of formation of fixed assets of the enterprise:
depreciation;
depreciation of intangible assets:
profit remaining at the disposal of the company.
Attracted sources of fixed assets:
bank loans;
borrowed funds from other enterprises and organizations;
funds received from the issue of securities,
shares and other contributions of legal entities and individuals;
funds received through redistribution from centralized investment funds of parent organizations and associations;
funds from extra-budgetary funds;
budget allocations provided on a repayable and non-refundable basis;
funds from foreign investors.
In modern conditions, such a method of forming fixed assets of an enterprise as rent and its variety - leasing is also actively used.
Methods for assessing fixed assets.
Fixed assets have several types of monetary valuation:
Initial cost;
Replacement cost;
Residual value.
The initial cost of fixed assets acquired for a fee is recognized as the amount of the enterprise's actual costs for acquisition, construction and production, with the exception of value added tax and other refundable taxes.
The initial cost of fixed assets contributed as a contribution to the authorized (share) capital of the company is recognized as their monetary value, agreed upon by the founders (participants) of the company.
The initial cost of fixed assets received by a business firm under a gift agreement and in other cases of gratuitous receipt is recognized as their market value as of the date of capitalization. Fixed assets are accepted for accounting at the enterprise at their original cost.
An enterprise has the right, no more than once a year (at the beginning of the reporting year), to revaluate fixed assets at replacement cost by indexation or direct recalculation at documented market prices with the attribution of any resulting differences to the company's additional capital.
Residual value is that part of fixed assets that has not been transferred to finished products, that is, this is the difference between the original cost and the amount of accrued depreciation.

Fixed assets are funds invested in fixed assets for production and non-production purposes.
They represent a set of material assets used as means of labor and operating in kind for a long time.
Their initial formation occurs when the enterprise is established at the expense of the authorized capital. At the time of acquisition of fixed assets and acceptance on the balance sheet, their value quantitatively coincides with the cost of fixed assets. Subsequently, as they participate in the production process, the cost of fixed assets bifurcates: one part, equal to wear and tear, is transferred to finished products, the other expresses the residual value of existing fixed assets.
The worn-out part of the cost of fixed assets transferred to finished products, as the latter is sold, is gradually accumulated in cash in the depreciation fund and is used for the reproduction of fixed assets.
Transactions with fixed assets (receipts and disposals) have a multifaceted and diverse impact on financial condition and results of economic activities of enterprises.
Based on their material and natural composition (types), fixed assets are divided into: buildings and structures; working and power machines and equipment; measuring and control instruments and devices; computer technology; vehicles; tool; production and household equipment and supplies; productive and breeding livestock; perennial plantings; on-farm roads and others. The following are also taken into account as part of fixed assets: capital investments for radical improvement of land; capital investments in leased fixed assets; land plots; environmental management objects (water, subsoil and other natural resources).
According to their functional purpose, fixed assets are divided into:

• industrial production, which are directly involved in the production process and are used in main, auxiliary and auxiliary workshops, laboratories, warehouses (machines, equipment, etc.);
• non-productive, which are not directly involved in the production process, but are used in social sphere enterprises, housing and communal services, healthcare, culture (residential buildings, kindergartens, schools, hospitals, etc.)

Based on ownership, fixed assets are divided into owned and leased.
Depending on the degree of impact of fixed assets on objects of labor, they are divided into active and passive.
Active fixed assets include those that, during the production process, directly affect the subject of labor, modifying it (machines, equipment, etc.).
The rest are classified as passive, because only create the necessary conditions for the production process (buildings, structures, etc.).
Based on their use, fixed assets are divided into:

• in use;
• in reserve (conservation).

By sources of financing - own and borrowed.
For tax purposes, fixed assets subject to depreciation (depreciable property) are distributed into depreciation groups in accordance with their useful lives.
Depreciable property is combined into the following depreciation groups:

• the first group - all short-lived property with a useful life from 1 year to 2 years inclusive;
• second group - property with a useful life of more than 2 years up to 3 years inclusive;
• tenth group - property with a useful life of over 30 years. The classification of fixed assets included in depreciation groups is approved by the Government of the Russian Federation.

In accounting, fixed assets are reflected in the “Non-current assets” section of the balance sheet, which are identical to the concept of “fixed capital” and also include:

• intangible assets;
• long-term financial investments;
• unfinished construction.

For accounting, analysis and planning, as well as determining the volume and structure of capital investments, a valuation of fixed assets is required.
| Valuation of fixed assets is the monetary expression of their value. |
Four types of assessment are used:

• initial (the sum of the organization's actual costs for the acquisition, construction and production, with the exception of value added tax and other refundable taxes, as well as the actual costs of delivering objects and bringing them into a condition suitable for use);
• replacement value (the cost of fixed assets established as a result of revaluation);
• residual (the difference between the original or replacement cost and the amount of depreciation, i.e. this is that part of the cost of fixed assets that has not yet been transferred to manufactured products);
• liquidation (represents the proceeds from the sale of obsolete fixed assets with expired useful life, minus the costs of dismantling, disassembling, selling, registration).

The concept of “market value” of non-current assets is also used, which is the price that a buyer is willing to pay when purchasing them in accordance with a purchase and sale agreement, during an auction or other commercial auction, including a tender. The estimated value is set depending on profitability, inflation rate, and other market factors.
Fixed assets involved in the production process gradually lose their original characteristics due to their use and natural wear and tear. A distinction is made between physical and moral wear and tear.
Physical wear and tear refers to the loss of the means of labor of their original qualities. The level of physical wear and tear depends on: the quality of fixed assets, the degree of their operation, the level of environmental aggressiveness, qualifications service personnel, timeliness of preventive maintenance, etc.
To characterize the degree of physical deterioration of fixed assets, the following indicators are used:

• coefficient of physical depreciation (wear and tear / original cost);
• serviceability coefficient (original cost - wear and tear / original cost).

The essence of obsolescence of fixed assets is that they depreciate, lose value before their physical wear and tear, before the end of their physical service life.
At each enterprise, the process of physical and moral wear and tear of fixed assets must be managed. The main goal of management is to prevent excessive wear and tear of fixed assets, especially their active part, which can lead to negative economic consequences for the enterprise.
The functioning of fixed assets and intangible assets is limited by their service life, after which they are removed from circulation, which necessitates renewal.
The continuous process of updating fixed assets to maintain their quantitative and qualitative condition, carried out through acquisition, reconstruction, technical re-equipment, modernization and overhaul, is called the reproduction of fixed assets.
Reproduction has two forms:

• simple reproduction, in which the costs of compensating for the depreciation of fixed assets correspond to the amount of accrued depreciation;
• expanded reproduction, in which the cost of compensating for wear and tear exceeds the amount of accrued depreciation.

The presence, movement and composition of fixed assets are presented in reports in the form of a balance sheet model:
Nipple = Sosn + Sosp - Sosv,
where Sosk is the cost of available fixed assets at the end of the year;
Sosn - the cost of available fixed assets at the beginning of the year;
Sosp - the cost of fixed assets received in the reporting year, incl. new fixed assets put into operation;
Sov - the cost of fixed assets retired in the reporting year, incl. through liquidation or write-off.
For more detailed analysis the process of reproduction of fixed assets and the efficiency of their use, the following indicators are used:

• fixed asset renewal ratio (Sosp / Sosk x 100);
• fixed asset retirement ratio (Sosv / Sosn x 100;
• capital productivity (revenue from the sale of goods, works, services / average cost fixed assets in the analyzed period);
• capital intensity (average cost of fixed assets / revenue from sales of goods, works, services);
• capital-labor ratio (average annual cost of fixed assets / average annual number of working staff);
• return on fixed assets (profit / average cost of fixed assets).

The problem of continuous reproduction of fixed assets is solved through depreciation, investment and tax policies.
Depreciation is the gradual transfer of the cost of fixed assets to the manufactured product, the targeted accumulation of funds and their subsequent use for the reproduction (reimbursement, restoration) of worn-out fixed assets.
Depreciation charges are the monetary expression of the cost of depreciation of fixed assets and intangible assets.
They are included in the expenses of enterprises associated with the production and sale of products and, as part of the proceeds from the sale of products, are returned to the enterprise’s account, becoming a source of financing for both simple and expanded reproduction.
The ratio of the annual amount of depreciation of fixed assets to their original cost, expressed as a percentage, is called the depreciation rate. This is one of the most important economic tools for managing the process of reproduction of fixed assets and refers to long-term standards. Their level, structure and degree of differentiation are determined by the objectives of economic policy and do not remain the same for each period of economic development.
The depreciation rate shows what share of their book value is annually transferred by the means of labor to the products they create, and is calculated using the formula:
On = Sos.prim. + Рд + Рм - Sos.ost. ,
Sos.prim. x T
where Na is the depreciation rate;
Sos.prim. - initial cost of fixed assets;
Рд - expenses for dismantling and selling fixed assets;
Рм - modernization costs;
Sos.ost. - residual value of fixed assets;
T - standard service life of fixed assets (useful life).
The annual amount of depreciation is determined by type of fixed assets based on their average annual cost using the formula:
A = USSR x Na,
100
where A is the annual amount of depreciation;
USSR - average annual cost of fixed assets.
The cost of fixed assets of an enterprise changes during the year due to their entry and disposal. Therefore, in financial and economic calculations, the average annual cost is most often used, determined by the formula:
Sossr = Sosn + Sosp X K1\12 - Sosv x K2\12,
where Sosn is the cost of fixed assets at the beginning of the year;
Sosp - the cost of received (input) fixed assets;
Sosv - the cost of retired fixed assets during the year;
K1 and K2 - the number of full months of operation of fixed assets during the year, taking into account the time of entry (disposal).
The cost of not all fixed assets is repaid through depreciation.
For housing facilities (residential buildings, dormitories, apartments, etc.), external improvement facilities and other similar facilities (forestry, road facilities, specialized shipping facilities, etc.), as well as productive livestock, buffaloes, oxen and for deer, perennial plantings that have not reached operational age, the cost is not repaid, i.e. no depreciation is charged. For the specified fixed assets and fixed assets non-profit organizations Depreciation is calculated at the end of the reporting year according to established depreciation rates. The movement of depreciation amounts on the specified objects is accounted for in a separate off-balance sheet account.
Objects of fixed assets whose consumer properties do not change over time (land plots and environmental management facilities) are not subject to depreciation.

Calculation of depreciation of fixed assets for the purpose of accounting produced in one of the following ways:

• linear method;
• reducing balance method;
• method of writing off value by the sum of the numbers of years of useful life;
• method of writing off cost in proportion to the volume of products (works). The use of one of these methods of calculating depreciation for a group of homogeneous fixed assets is carried out throughout the entire useful life of the objects included in this group.

The annual amount of depreciation charges is determined:

• at linear method- based on the original cost or current (replacement) cost (in case of revaluation) of an item of fixed assets and the depreciation rate calculated based on the useful life of this item;
• with the reducing balance method - based on the residual value of the fixed asset item at the beginning of the reporting year and the depreciation rate calculated based on the useful life of this item and the acceleration factor established in accordance with the legislation of the Russian Federation;
• when writing off the cost by the sum of the numbers of years of the useful life - based on the original cost or current (replacement) cost (in case of revaluation) of an object of fixed assets and the ratio, the numerator of which is the number of years remaining until the end of the useful life of the object, and in denominator - the sum of the numbers of years of the useful life of the object. During the reporting year, depreciation charges for fixed assets are accrued monthly, regardless of the accrual method used, in the amount of 1/12 of the annual amount.
• When writing off the cost in proportion to the volume of production (work), depreciation charges are calculated based on the natural indicator of the volume of production (work) in the reporting period and the ratio of the initial cost of the fixed asset item and the estimated volume of production (work) for the entire useful life of the fixed asset item. The amounts of accrued depreciation for fixed assets are reflected in

accounting by accumulating the corresponding amounts in a separate account.
For tax purposes, taxpayers charge depreciation in accordance with Art. 259 of the Tax Code of the Russian Federation using one of the following methods:

• linear method;
• nonlinear method.

The amount of depreciation for tax purposes is determined by taxpayers on a monthly basis and is accrued separately for each item of depreciable property, starting from the 1st day of the month following the month in which this item was put into operation.
The accrual of depreciation on an object of depreciable property ceases from the 1st day of the month following the month when the cost of such an object was completely written off or when this object was removed from the depreciable property of the taxpayer for any reason.

The taxpayer applies the straight-line method of calculating depreciation to buildings, structures, transmission devices included in the eighth to tenth depreciation groups, regardless of the timing of commissioning of these objects.
For other fixed assets, the taxpayer has the right to apply any of the methods provided for by the Tax Code of the Russian Federation.
When using linear method the amount of depreciation accrued for one month in relation to an object of depreciable property is determined as the product of its original (replacement) cost and the depreciation rate determined for this object according to the formula:
K = (1/p) x 100%,
where K is the depreciation rate as a percentage of the original (replacement) cost of the depreciable property;
When applying the non-linear method, the amount of depreciation accrued for one month in relation to an object of depreciable property is determined as the product of the residual value of the object of depreciable property and the depreciation rate determined for this object according to the formula:
K = (2/p) x 100%,
where K is the depreciation rate as a percentage of the residual value applied to a given item of depreciable property;
n is the useful life of a given depreciable property item, expressed in months.
In relation to depreciable fixed assets used for work in an aggressive environment and (or) increased shifts, the taxpayer has the right to apply a special coefficient to the basic depreciation rate, but not higher than 2. For depreciable fixed assets that are the subject of a financial lease agreement (leasing agreement) , to the basic depreciation rate, the taxpayer, for whom this fixed asset must be taken into account in accordance with the terms of the financial lease agreement (leasing agreement), has the right to apply a special coefficient, but not higher than 3. These provisions do not apply to fixed assets related to the first, second and the third depreciation group, if depreciation for these fixed assets is calculated using a non-linear method.
Improving the use of fixed assets is reflected in the financial results of the enterprise and can be achieved by:

• freeing the enterprise from excess equipment, machinery and other fixed assets or leasing them;
• 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, especially the active part, of fixed assets in order to prevent excessive moral and physical wear and tear;
• improving the quality of preparation of raw materials and supplies for the production process;

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

Ways to improve the use of fixed assets depend on the specific conditions prevailing at the enterprise over a given period of time.

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• Introduction
• Section 1. Essence of capital
• 3.2 State of fixed capital in developed countries of the world
• 3.3 Comparative characteristics and analysis of depreciation of fixed capital in Ukraine and other countries
• Conclusion
• Literature

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 company's activities. 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, of course, increased labor productivity.

Fixed capital (fixed assets) is the main component of the capital of firms in most industries, primarily in the real sector.

It represents the cost of means of labor that are repeatedly used in the economic process without changing their material and natural form. Features of the reproduction of fixed capital are determined by a number of characteristic features, which include:

· gradual transfer of the value of fixed capital to the cost of manufactured products; movement of use value;

· capital value turnover;

· partial reproduction of value and finished products and its accumulation in monetary form;

fixed capital Ukraine depreciation

· renewal of fixed capital in physical form over more or less long periods of time, which creates the possibility of maneuvering the means of the depreciation fund.

Cash advanced for the purchase of fixed capital is called fixed assets. The composition of fixed productive capital distinguishes between active and passive parts. The active part of fixed capital directly affects the product, determines the scale of its production and the level of labor productivity of workers. The passive part of fixed capital covers buildings, structures, transmission devices, etc. The division of fixed capital into active and passive to a certain extent conditionally depends on the specifics of the functions performed by the industry.

Section 1. Essence of capital

IN economic theory The concept of “capital” has different meanings.

Capital is a certain amount of goods in the form of material, monetary and intellectual assets used as a resource in further production. Therefore, capital is the sum of so-called capital goods, i.e. goods for the production of other goods. Fixed capital (fixed assets) is the main component of the capital of firms in most industries, primarily in the real sector.

Mercantilists believe that " capital"is a self-increasing value. At the same time, they associated the accumulation of wealth with the sphere of circulation without taking into account any labor costs associated with the creation of goods.

A. Smith and D. Riccardo connect capital with labor costs.A. Smith believes that capital acts as accumulated labor, D. Ricardo - as means of production, physiocrats consider land as capital.

In Marxist economics, capital is the most important criterion of the entire system of social production. K. Marx connects the concept of “capital” with the exploitation of wages. Capital is the relationship between capitalists and wage workers, who create surplus value in the process of exploitation. Consequently, capital is a value that, through the exploitation of hired labor, brings surplus value, that is, self-expands. Thus, the source of self-expansion of capital is surplus value. According to K. Marx’s definition, capital comes in three forms:

· Constant capital (in the form of means of production);

· Monetary capital (in the form of money);

· Commodity capital (in the form of goods).

In addition, according to the method of creating surplus value, K. Marx divided capital into constant (means of production, which in the production process transfer their value to the finished product in a modified form) and variable (capital in the form of the cost of labor power, which changes its value in the production process , increases by the amount of surplus value).

The division of capital into constant and variable is of great theoretical importance. Constant and variable capital differ fundamentally from each other in their role in the process of producing surplus value. Constant capital serves only as a prerequisite for the creation of surplus value, while variable capital creates surplus value. Without clarifying the division of capital into constant and variable, it is impossible to correctly understand the mechanism of production of surplus value.

From these positions, it is possible to reveal the dual nature of labor in capitalist production. Hired workers, with their living labor, create new value and transfer the cost of the means of production to the product. This dual result, achieved at the same time, explains the dual nature of labor. The expended abstract labor of hired workers creates new value. Its value does not depend on the quality, but only on the quantity of labor expended by the workers.

At the same time, by expending specific labor, the hired worker transfers the value of the elements of constant capital to the product and creates consumer value. Moreover, this transfer of value depends on the quality of labor.

Thus, thanks to the labor of hired workers, capitalists can simultaneously preserve their constant capital and extract surplus value.

1.1 Modern interpretation of capital in Western economic literature

P. Samuelson defines capital as capital goods produced by the economic system itself in order to use them for the further production of other goods and services. In his opinion, such capital goods can function for both long and short periods of time. D. Bezhg, S. Fischer, R. Dornbusch characterize capital as physical capital, which appears in the form of laws of production goods. They include physical capital, in addition to material goods for production purposes, non-productive structures - school buildings that provide services, as well as family needs for durable goods, for example, a television that provides entertainment. They propose to distinguish from the “physical capital” of a company its “financial capital,” which comes in the form of money and securities.

W. Baumal and A. Blinder define capital as enterprise reserves, equipment or other production resources owned by firms or other organizations.

A similar position is held by K. McConnell and S. Brew. Capital is man-made resources used to produce goods, goods that do not directly satisfy human needs.

J. Robinson connects the concept of capital with money. She believes that capital, when not invested, appears in the form of cash.

American economist T. Shultz is one of the authors of the theory " human capital"He believes that education is one of the forms of human capital (human because it becomes part of a person, and capital because it determines the source of future income and earnings). For the first time, the concept of “capital” was extended to a person by the Russian lexicographer V. Dal. He noted that “abilities, titles and labor can also be called capital, like even the health or strength of the worker.”

The problem of capital is directly related to entrepreneurial activity. Capital begins to function when it is invested in production, therefore, in order for capital to begin to generate income, it is necessary, firstly, to materialize capital, transform it into factors of production, and secondly, to organize production in the form of an enterprise, organization, firm.

Currently, due to the spread of the joint-stock form of ownership, money capital is coming to the fore, the income of which comes in the form of interest. In this regard, the concept of “capitalized cost” of capital goods is used. It is directly related to the level of interest rates. If the interest rate level decreases, the capitalized cost increases.

1.2 Fixed capital of the enterprise, its composition, structure and analysis

Basic capital- this is the monetary valuation of fixed assets.

Basic capital- this is a part of productive capital, consisting of means of labor that are entirely involved in the production process over a number of circuits, but the value of which is transferred to the finished product in parts, as the means of labor are worn out, and is fully returned to the capitalist in monetary form only after several circuits.

The fixed assets of an industrial enterprise are a set of material assets created by social labor, long-term participating in the production process in an unchanged natural form and transferring their value to manufactured products in parts as they wear out.

Fixed assets are represented, first of all, by buildings and structures, transmission devices, machinery, equipment and instruments, vehicles, tools, household durable goods, as well as intangible assets.

Fixed assets largely determine the production potential of a company (industry, entire country), i.e. the ability to produce (release) over a certain period of time a certain amount of products of the required range and quality. In relation to enterprises (firms) in the sphere of material production, they often talk about their production capacity (production capacity).

There are several classifications of fixed assets. Depending on the nature of the participation of fixed assets in the sphere of material production, they are divided into:

production fixed assets (machinery, equipment, hydraulic structures - dams, canals, reservoirs; transport structures - bridges, roads, tunnels; electrical networks, pipelines, etc.). They function in the production process, constantly participate in it, wear out gradually, transferring their value to the finished product, they are replenished through capital investments;

non-productive fixed assets (domestic and cultural objects, etc.). They are intended to serve the production process, and therefore are not directly involved in it, and do not transfer their value to the product, because it is not produced; They are reproduced at the expense of national income.

Basic funds- the most important and predominant part of all industrial funds (meaning fixed and circulating funds, as well as circulating funds). They determine the production capacity of enterprises, characterize their technical equipment, and are directly related to labor productivity, mechanization, production automation, production costs, profits and profitability levels.

According to the existing classification, fixed assets of industry, according to their composition, depending on the intended purpose and functions performed, are divided into the following types:

buildings;

structures;

transfer devices;

machinery and equipment, including:

(power, working, measuring and regulating items, computer technology, others);

vehicles;

tools;

production equipment and supplies;

other fixed assets (draft animals, perennial plantings).

Each group consists of many different means of labor. In the building group there are three subgroups: industrial buildings, non-industrial buildings and housing. Structures are divided into underground, oil and gas wells, and mine workings. Transmission devices include pipelines and water pipes. Power machines are turbines and electric motors. Working machines and equipment are divided depending on the industries of use. Tools and equipment are taken into account as part of fixed assets only if they last more than one year and cost more than 1000 UAH; if less, then these are low-value and wear-out items and are included in working capital.

Buildings and structures for production purposes, transmission devices, machinery and equipment, vehicles form fixed assets for production purposes.

The ratio of individual groups of fixed assets to their total volume represents the type (production) structure of fixed assets. Depending on their direct participation in the production process, production fixed assets are divided into: active (serve critical areas of production and characterize the production capabilities of the enterprise) and passive (buildings, structures, equipment that ensure the normal functioning of the active elements of fixed assets).

Basically, the mass of production fixed assets in industry is concentrated in the active part.

The composition and structure of fixed assets depend on the specialization of the industry, technology and organization of production, and technical equipment. The structure of fixed assets may vary by industry and within a particular industry due to the same reasons.

For better use of fixed assets during their operation, it is necessary to keep clear records of the availability and movement of fixed assets of the enterprise. This accounting should provide knowledge of the total size of fixed assets, their dynamics, the degree of their influence on the level of production costs, and others.

Fixed assets are accounted for in statistics using the fixed capital balance sheet. It is a statistical table whose data characterizes the volume, structure, reproduction and use of fixed assets. Fixed capital analysis is carried out in many areas, including:

1. Analysis of fixed assets by technological and age structure. The technological structure shows the relationship between the so-called active part of the funds (working machines and equipment directly involved in the production of products) and their passive part (buildings, structures, etc.). The age structure of funds characterizes them by their service life.

2. Analysis of the value of fixed assets using various approaches. When assessing fixed assets at book value, the base is taken the value of fixed assets when they are registered, more precisely, at the time of initial entry into the balance sheet of fixed assets or its subsequent correction. As a result, the book value is a mixed assessment of fixed assets, since one part of them is still listed at its original cost (i.e., acquisition cost), and the other has already been revalued and is listed at the so-called replacement cost.

Moreover, both the initial and replacement costs can be either full, i.e. at the time of purchase, or the next revaluation, and residual, i.e. minus wear and tear or with the addition of modernization and reconstruction.

3. Analysis of renewal, disposal and depreciation of fixed assets, which are characterized by corresponding coefficients. Moreover, when analyzing, not only the values ​​of each of these coefficients are important, but also the difference between them. For example, when high coefficient renewal and low retirement rate in the company, the share of old funds increases. With the opposite combination, the volume of fixed assets is reduced.

Coefficient wear and tear- this is the share in the fixed assets of those funds whose age exceeds the standard period.

4. Analysis of the efficiency of use of fixed assets, which is characterized by a number of coefficients, including such as:

capital productivity;

capital intensity of fixed assets.

1.3 Valuation and accounting of fixed capital

Accounting for fixed assets in monetary terms is carried out to establish the wearability of fixed assets of industry and accrual

monetary amounts according to wear and tear (depreciation), to take into account the dynamics, structure of fixed assets, determine the cost of production and profitability of the enterprise.

Due to the duration of operation of fixed assets, their gradual wear and tear and changes during this time in the conditions of reproduction, there are several methods for assessing fixed assets: according to the initial (balance sheet), replacement, residual, liquidation and average annual value of fixed assets.

1. Initial price main funds- is the cost (price) of acquiring this type of fixed assets; transportation costs for delivery; cost of installation, adjustment, etc. This value is expressed in the prices in effect at the time of acquisition of this object, and based on its value, enterprises register elements of fixed assets and record them on the balance sheet of the enterprise, as a result of which it is also called the book value of fixed assets.

2. Due to the duration of production operation and under the influence of growth in labor productivity, the price of fixed assets created at different times may decrease (this is possible in normal economic conditions, with a low percentage of inflation).

To eliminate the distorting influence price factor fixed assets are valued at their replacement cost, that is, at the cost of their production in today's conditions.

To determine the replacement cost, regular tests are carried out.

revaluation of fixed assets using two main methods:

1) by indexing their book value;

2) by direct recalculation of the book value in relation to prices prevailing on January 1 of the next year.

In modern conditions, with high levels of inflation, more than ever before, there is a need for periodic revaluation of fixed assets and determination of their replacement cost, corresponding to real economic circumstances.

However, with this method, as with valuation at historical cost, it is impossible to determine the degree of depreciation of fixed assets. However, such an assessment poses significant difficulties due to the necessary revaluation of all elements of fixed assets. Therefore, such assessments are carried out only periodically.

3. Ostsharp price represents the difference between the original cost and accrued depreciation (the cost of fixed assets not transferred to the finished product). For new enterprises being put into operation, the assessment of fixed assets using this method coincides with the assessment based on the original cost. For existing ones, it will be less than the original cost by the amount of depreciation of fixed assets.

It allows you to judge the degree of wear and tear of labor equipment, plan the renewal and repair of fixed assets. There are two types of residual value:

1) it is determined according to the original cost, determined as depreciation is calculated,

2) at replacement cost, determined by expert means in the process of revaluation of means of labor.

Valuation based on replacement cost, taking into account depreciation, makes it possible to determine the actual cost of existing fixed assets, as well as compare the volume of fixed assets of individual enterprises in the industry.

4. Liquidation price- this is the cost of selling worn-out and discontinued fixed assets (often this is the price of scrap).

5. Average annual price fixed assets are determined on the basis of their original cost, taking into account their input and liquidation.

The monetary valuation of fixed assets is reflected in accounting at the initial (balance sheet), replacement, full and residual value.

Section 2. Physical and moral wear and tear of fixed capital

Fixed assets are subject to physical and moral wear and tear both during their use and during inactivity. Let's consider the characteristics of wear and tear, its types, depreciation and leasing, indicators of the use of fixed capital and its renewal.

2.1 Physical wear and tear of fixed capital

Physical wear main capital- this is their loss of use value. With physical wear and tear, fixed assets lose their use value, i.e. deterioration of technical, economic and social characteristics under the influence of the labor process, the forces of nature, as well as due to the non-use of fixed assets. When fixed capital is inactive, physical wear and tear consists in the loss of their properties under the influence of atmospheric conditions, as well as as a result of internal processes occurring in the structure of the material from which they are made.

A significant share of obsolete fixed assets in production causes significant losses, since, firstly, aging equipment requires increased investment in capital repairs to maintain it in working order; secondly, outdated production does not have the opportunity to use new technology - at least completely. As a result, the volume of products and services decreases.

Physical wear determined based on the service life of fixed assets.

The size of the physical wearability of fixed assets during their use is influenced by many factors, including:

1) the degree of load on fixed assets in the production process. However, it must be taken into account that increasing the load on fixed assets is economically feasible, because contributes to a better use of fixed assets and a reduction in production costs, since a unit of production accounts for less of the depreciation of fixed assets.

2) quality of fixed assets; Whether the equipment is permanently installed or portable, portable equipment wears out faster.

3) features of the technological process and the degree of protection of fixed assets from the influence of external conditions;

4) quality of care for fixed assets;

5) strict adherence to technological regimes, technically competent operation of machines and equipment.

Machines, machine tools and other types of fixed assets not only physically wear out, but also become backward in their technical characteristics and economic efficiency.

A) Depreciationmaincapital. Herbasicfunctions.

Basic functions depreciation- ensuring reproduction, restoration of fixed assets and accounting. Fixed asset accounting cards reflect depreciation data and determine the amount of depreciation of fixed assets over the years of their operation.

Also, depreciation, to a certain extent, also performs a stimulating function, providing for the fullest use of fixed assets: the longer the period of operation of the equipment, the more products are produced and the sooner the value of fixed assets will be transferred. This will reduce their under-depreciation due to obsolescence and reduce the company’s losses, which is very important in market conditions.

The monetary expression of the transferred part of the cost of fixed assets is called depreciation charges. Depreciation charges are included in the cost of production (production costs).

The amount of depreciation charges is determined according to depreciation rates based on the original (book) value of fixed assets, taking into account their service life.

Norm depreciation- this is the ratio of the annual amount of depreciation to the average annual cost of fixed production capital, expressed as a percentage.

The depreciation rate shows how many years the cost of fixed capital must be reimbursed. Under the conditions of scientific and technical progress, the service life of equipment is reduced, so the problem of accelerated depreciation arises.

In a number of industries, depending on the technological features of production, the mode and shift of operation of equipment and other factors, depreciation rates may be increased or decreased.

In market conditions, the amount of depreciation charges has a significant impact on the economy of the enterprise. On the one hand, too high a share of deductions increases the value of production costs, and, consequently, reduces the competitiveness of products, reduces the amount of profit received and therefore reduces the range of possibilities of the enterprise in terms of its economic level of development.

On the other hand, an underestimated share of deductions lengthens the turnover period of funds invested in the acquisition of fixed assets, and this leads to their aging and, as a consequence, a decrease in competitiveness and loss of their position in the market.

Calculation of depreciation charges is carried out using the direct calculation method based on the average annual cost individual species fixed assets and established depreciation rates.

They are calculated for each type of fixed assets for major repairs and for the complete restoration of fixed assets.

Depreciation charges for the complete restoration of the active part of fixed assets (machinery, equipment, vehicles) are made during the standard service life of fixed assets or the period during which the book value of these assets is completely transferred to production and distribution costs.

For all other fixed assets, depreciation deductions for full restoration are made during their actual service life. There is a classification of methods for calculating depreciation. Firstly, we can distinguish uniformly rectilinear method. With the uniform straight-line method, the value of fixed assets is written off evenly over the specified service life. In addition to uniform (linear), in world practice they use methods accelerated (regressive) depreciation. Accelerated depreciation methods during the first half of the standard service life of fixed assets make it possible to reimburse up to 60-75% of their cost, while using the straight-line method, only 50% of the cost of fixed assets would be reimbursed. In the second half of the service life of fixed assets, the amount of depreciation decreases.

Accelerated depreciation methods include:

double rate method;

cumulative.

In some countries, the double rate method is used when the approved in the prescribed manner the depreciation rate for the corresponding inventory item increases, but not more than 2 times.

Enterprises can apply the accelerated depreciation method in relation to fixed assets used to increase the production of computer equipment, new advanced types of materials, instruments and equipment, expand the export of products, in cases where they replace worn-out and obsolete equipment (in this case, the standards are consistent with state financial authorities). This method does not apply to machines and equipment with a standard service life of up to 3 years, or to unique equipment intended only for the production of a limited range of products.

Method decrease residual cost. The object is used in the production of a variety of products. Rapid physical and moral (or only moral) wear and tear. The need for rapid accumulation of funds for the accelerated renewal of fixed assets.

Expedited decrease residual cost. The facility is used in the production of a variety of products. Rapid physical and moral (or only moral) wear and tear. The need for rapid accumulation of funds for accelerated renewal of fixed assets

Cumulative method. The facility is used in the production of a variety of products. Rapid physical and moral (or only moral) wear and tear. The need for rapid accumulation of funds for the accelerated renewal of fixed assets. The service life of an object is measured in a whole number of years

Industrial method. The facility is used to produce one type of product or provide one type of service. Uneven operation of the facility. Economic utility, which is a component of fixed assets, decreases not just over time, but depending on the operation of the object. The useful life of an object is directly determined by its resource: the number of units of production produced with its help, mileage, hours of operation, etc.

IN lately in developed countries a new one is used method accelerated write-offs cost cars- a combination of regressive and progressive depreciation methods.

An enterprise that needs to update equipment or expand its fleet of equipment has two options: purchase equipment or rent it. One type of rental is leasing.

b) Leasingmaincapital. ClassificationAndpeculiaritiesleasing.

Leasing- this is the view entrepreneurial activity, aimed at investing temporarily free or attracted financial resources, when, under a financial lease (leasing) agreement, the lessor (lessor) undertakes to acquire ownership of the property stipulated by the agreement from a certain seller and provide this property to the lessee (lessee) for a fee for temporary use for business purposes.

The main difference between leasing and other types of lease is that property is leased that has not previously been used by the lessor, but was specially acquired by him for the purpose of transferring it for use to the lessee.

Leasing is classified according to the following criteria:

1). Depending on the composition of participants, leasing can be direct or indirect.

2). By type of property - movable and real estate.

3). By degree - with full and incomplete payback.

4). Depending on the conditions of depreciation - with full and incomplete depreciation. In accordance with the last two characteristics, financial and operational leasing are distinguished.

5). In terms of the scope of property maintenance, leasing can be “pure” (without maintenance), with a full range of services or with a partial range of services.

6). Depending on the market sector, there is internal (within one country) and external (international) leasing.

Operating leasing is different in that the contract term is shorter than the service life of the equipment. During the term of the contract, the lessor reimburses only part of the cost of the equipment. In this case, the residual value of the equipment remains high, and the lessor bears an increased risk of recovering this cost (especially in the absence of demand for it), since it must rent it out for use several times.

A special case of direct leasing is leaseback. With this type of leasing, the owner of the property sells it to the lessor and at the same time enters into an agreement for the use of this property. That is, the seller and the lessee are the same legal entity. This type of leasing is especially effective for enterprises with a difficult financial situation. It is profitable for an enterprise that needs property to sell it to a leasing company and continue to use it. This does not exclude the possibility of subsequent redemption of the property.

Leasing at residual value is used for equipment that has already been in use. In this case, the leased object is valued at its residual value, which reduces the lessee's costs.

Leasing has many advantages, some of them can be listed:

Firstly, it allows companies to modernize and organize new production without mobilizing large financial resources.

Secondly, for small and medium-sized firms, leasing is often the only possible way to finance their investments.

Thirdly, it exempts the tenant from procedures and expenses associated with owning property (for example, property taxes).

Fourthly, it allows you to include in the cost of products, works, and services interest on borrowed funds received, including bank loans used by leasing entities to carry out financial leasing operations, as well as leasing payments.

Fifthly, it allows you to reduce income tax, since lease payments from the lessee are expensed.

2.2 Obsolescence of fixed capital

Moral wear is a loss of value for two reasons:

1) creation of similar, but cheaper means of labor;

2) release of more productive means of labor at the same price.

Machines, machine tools and other types are subject to obsolescence.

There are two forms of obsolescence:

the first expresses a decrease in the cost of a machine or equipment without corresponding physical wear and tear due to the reduction in the cost of their reproduction;

the second is a decrease in cost as a result of the introduction of new, more productive machines or equipment, due not to a decrease in productivity or power, but to the fact that the further operation of old machines compared to new ones leads to higher production costs.

Obsolescence of the first type is associated not with the service life of equipment, not with the degree of its physical wear and tear, but with the pace of technical progress, leading to a reduction in the cost of manufacturing products due to increased labor productivity in the industry producing new fixed assets.

With obsolescence of the first type, the use value of fixed assets does not change. There are no design changes in the new machines, similar to the previous ones, and the performance of the equipment also remains the same. Only the replacement cost of fixed assets changes.

It is important to prevent the obsolescence of funds. Prevention of obsolescence of fixed assets primarily relates to their passive part: buildings, structures, communications. They are much more durable than hardware. Therefore, their decisions must take into account the subsequent replacement of technologies and equipment.

Correctly establishing the degree of depreciation of fixed assets is important for determining the replacement cost of fixed assets and the amount of depreciation charges that economically compensate for depreciation.

Depreciation of fixed assets is determined and taken into account by all enterprises, regardless of their form of ownership, for all types of fixed assets, regardless of whether depreciation is charged on them or not.

For individual fixed assets, the amount of depreciation is established as necessary based on the data available in the inventory cards on the initial or replacement cost of the object, the standard time it was in operation and the current depreciation rates.

The amount of depreciation in full with depreciated fixed assets is not accrued.

Depreciation is reflected by enterprises and organizations based on the established uniform norms of depreciation charges.

Moral wear first kind determined based on the ratio of book and replacement values.

Moral wear second kind most often determined by comparing equipment performance. However, this does not take into account the savings in raw materials or labor savings that can be provided by new fixed assets. Therefore, to more accurately account for obsolescence of the second type, fixed assets and production costs should be compared.

Fixed production assets, participating in the production process, transfer their value in parts to the finished products produced or services provided.

The amount of value transferred to the product is determined:

1) the initial cost of fixed assets;

2) type of fixed assets;

3) industry specifics of production.

A) Indicatorsusemaincapital.

Given the existing technical level and structure of the main production assets an increase in production output, a reduction in costs and an increase in the savings of enterprises depend on the degree of their use.

All indicators of the use of fixed production assets can be combined into three 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 production assets, taking into account the cumulative influence of all factors - both extensive and intensive.

The first group of indicators includes: coefficient of extensive use of equipment, shift coefficient of equipment operation, coefficient of equipment load, coefficient of shift mode of equipment operating time.

Coefficient extensive use equipment(Kext) is determined by the ratio of the actual number of hours of operation of the equipment to the number of hours of its operation according to the plan.

Coefficient shifts workss equipment is defined as the ratio of the total number of machine shifts worked by equipment of a given type during the day to the total number of machines assigned to the enterprise.

Coefficient downloads equipment also characterizes the use of equipment over time. It is installed for the entire fleet of machines located in the main production. It is calculated as the ratio of the labor intensity of manufacturing all products on a given type of equipment to the fund of its operating time. The equipment load factor, in contrast to the shift factor, takes into account data on the labor intensity of products. In practice, the load factor is usually taken equal to the value of the shift factor, reduced by two times (with a two-shift operating mode) or three times (with a three-shift operating mode).

Based on the equipment shift indicator, it is calculated and coefficient use replacement cutma time work equipment. It is determined by dividing the equipment shift ratio achieved in a given period by the shift duration established at a given enterprise (in the workshop).

In addition to intra-shift and all-day downtime, it is important to know how efficiently the equipment is used during the hours of its actual load. This problem is solved by calculating indicators of intensive use of fixed assets, reflecting the level of their use in terms of capacity (productivity). Indicators that belong to the second group of indicators, the most important of them is the coefficient of intensive use of equipment.

Coefficient intensive use equipment is determined by the ratio of the actual productivity of the main technological equipment to its standard productivity, i.e. progressive technically sound performance.

The third group of indicators for the use of fixed assets includes the coefficient of integral use of equipment, the coefficient of utilization of production capacity, indicators of capital productivity and capital intensity of products.

Coefficient integral usedvania equipment is defined as the product of the coefficient of intensive and extensive use of equipment and comprehensively characterizes its operation in terms of time and productivity (power). The value of this indicator is always lower than the values ​​of the previous two, since it simultaneously takes into account the disadvantages of both extensive and intensive use of equipment.

The result of better use of fixed assets is, first of all, an increase in production volume. A general indicator of the efficiency of fixed assets is based on the principle of comparing production products with the entire set of fixed assets used in its production. This is an indicator of output per 1 UAH of the value of fixed assets - return on assets.

Capital intensity products- size, inverse 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.

b) Updatemaincapital.

The transition of the economy from the crisis phase to the recovery phase, and then - a rise associated with the renewal of fixed capital. During a crisis, low prices are set that do not even cover production costs. The reduction in prices is predetermined by low demand for goods as a result of a decrease in the purchasing power of the population. However, this does not mean that all needs are met; the reason is the lack of money among the population.

In a market economy, production costs must meet a certain price level, which makes it possible not only to cover production costs, but also to receive a certain profit. During a crisis, more advanced means of labor appear, which predetermine the obsolescence of fixed capital. This is essentially the second form of obsolescence.

In the first form, the cost of means of labor decreases based on labor productivity in the mechanical engineering industries. At the same time, obsolete means of labor are not replaced, they are only revalued. In the second form of obsolescence, better and more productive means of production are created. Obsolete fixed assets are being replaced.

In addition to moral wear and tear, there is also physical wear and tear on the means of labor. However, why does it occur simultaneously for many owners of labor equipment? This is explained by the fact that the crisis period lasts from the time when a massive renewal of the means of labor took place in the previous production cycle and until the time when there is a need for a new renewal in the next production cycle. As a rule, it is equal to the time of use of the means of production (approximately 10-12 years).

Of course, the timing of using different means of labor is not the same. However, we are talking mainly about their active part - machines, machine tools and some types of equipment. Other types of fixed assets (for example, industrial buildings, vehicles) do not need such rapid replacement. Consequently, in the process of updating fixed capital, there is a massive replacement of worn-out means of labor with perfect ones, as a result of which labor productivity increases, production increases, and employment increases. The production of means of production contributes to the resumption of production of consumer goods. As a result of these processes, the country's economy moves from a crisis phase to a recovery phase, and then to a recovery phase. This completes the production cycle. Subsequently, a crisis occurs again and the cycle repeats. It should be noted that a new rise, as a rule, reaches a point that exceeds the point of the previous rise. This is explained by the renewal of fixed capital, which provides a new technical basis for production.

Section 3. Problems and main directions of formation of fixed capital

Despite all the difficulties and problems, in the field of private entrepreneurship the desire to have your own own business attracts more and more budding entrepreneurs. Paul Samuelson wrote about this desire: “People always want to start a business for themselves... Even if they never manage to earn more than a few thousand dollars a year, there is still something attractive in the opportunity to make their own plans and perform various tasks to which the small entrepreneur is inclined to deal with every day."

However, the current economic situation requires particularly informed decisions and constant, focused leadership in the field of finance. Market relations provide sufficient opportunities for effective management, but the real state of affairs in the economy: the decline in industrial production, negative changes in its structure, the crisis of non-payments and the high risk of working with the banking system - often nullify all efforts in improving the quality of enterprise management.

The ongoing organizational and economic restructuring of the national economy radically affects the work of the main subject, part of the market economy - the enterprise. The creation of new joint-stock companies on the basis of old state-owned enterprises, the emergence of new forms of ownership led to the emergence of the need for financial management as the science of managing the finances of an enterprise. Management activities in modern conditions it acts as one of the most important factors in the functioning of enterprises and organizations.

The results of the production and economic activities of an enterprise are formed through the process of asset management, that is, fixed and working capital. Such results can be both positive and negative. Either the property of an enterprise in the process of activity allows it to make a profit and be solvent, or it becomes a burden that draws significant funds from the enterprise onto itself and leads to ever-increasing losses.

3.1 Depreciation of fixed capital in Ukraine

Consideration of the theoretical and methodological problems of recreating fixed capital at the stage of transition from a planned administrative system of economic management to a market economy allows us to most fully characterize the features of transformations, factors of recovery from crisis declines in production and changes in growth rates. During the transformation period, the growth rate of fixed capital and changes in its structure are determined general conditions development of production and social renewal under the influence of the strategy and methods of restructuring market relations. The fundamental basis of modern economic development Ukraine lies in the intensification of the phases of reconstruction and in the activation innovation activity. An important problem of economic theory is the study of the patterns of reconstruction and ways of effective use of fixed capital in the difficult circumstances of the transition to the market, which is noted in a number of specific features due to the action of many objective and subjective factors.

The practice of transformational transformations indicates that in Ukraine, methods and structures copied from developed market systems are being introduced into the economy. Ignoring the peculiarities of market laws during the period of transformation of the economic system causes many negative socio-economic phenomena.

The general pattern for countries with at different levels The development of market relations means that the processes of intensifying social production and increasing its efficiency in order to meet the needs of the economy and the population are decisively determined by the scale and nature of the reconstruction of fixed production assets and the degree of their use.

The new features of the reconstruction of fixed capital that arose in Ukraine during the transformation period can be understood correctly only if we take into account the influence of changes in the form of ownership on this process.

Use of fixed capital in Ukraine. As a result of the privatization processes that took place in Ukraine during recent years, state ownership of fixed capital has already lost its predominant importance. At the end of 2001, about 54% of fixed assets were state-owned (although in the early 90s they formed the overwhelming majority). Private enterprises owned only 2.2% of fixed assets, while collective ownership was 44.1%. Foreign owners had only 0.1% of fixed assets at their disposal.

The fixed capital efficiency ratio for foreign owners is 217.5% per 1% ownership of fixed assets. At the same time, in the general government sector (GPA) this figure was 0.046%. These are incomparable results. The reason is mismanagement in the public sector, the opportunity for foreign owners to receive excess income on the territory of Ukraine and much more. Currently, the situation that has developed in the sphere of obtaining income from property and the mechanisms that regulate it are extremely unsatisfactory and are subject to revision. This is especially important if we consider how business entities take care of the accumulation of capital that is in their property. According to the data, behind the structure of capital investments, collectively owned enterprises and the state, together with state-owned enterprises, have a share of capital investments comparable to the structure of fixed capital, which is in their ownership. Private enterprises are the most consistent in capital accumulation, although they own only 7.6% of the total capital investment. Enterprises of foreign ownership in the structure of capital investments have an indicator of only 0.6-0.8%, their share of income from property is 2.6%, and in terms of profit - over 2.1%. This indicates that foreign owners are not concerned about the accumulation of fixed capital, but about its exploitation. In absolute terms, income from property exceeded the volume of investment many times over. In terms of profits, the latter also exceeded capital investment for foreign-owned enterprises by 2.9 times. For state-owned enterprises, this figure was only 1.5 times. These figures characterize different attitude to the accumulation of fixed capital in Ukraine. And if we take into account that over the next ten years it is necessary to reconstruct and replace almost two-thirds of the fixed capital that is in operation, then it is necessary to fundamentally reconsider not only the policy of distributing income from capital and using profits among business entities, but also approaches to the formation of financial investment resources in Ukraine.

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The implementation of the production process at an enterprise involves the interaction of three factors of production: fixed assets (means of labor), objects of labor and labor.

Fixed capital of the enterprise is the monetary value of its fixed assets. Fixed assets- means of labor that are repeatedly involved in the production process, while retaining their natural material form and transferring their value to the manufactured products in parts as they wear out in the form of depreciation charges.

The criteria for classifying means of labor as fixed assets are the period and purpose of their use. In accordance with the law, fixed assets are considered to be labor tools with a service life of more than one year, intended for production use.

To organize primary accounting, statistical reporting, assessment and analysis, fixed assets are classified according to a number of criteria:

according to natural composition fixed assets are divided into the following groups: buildings, structures, transmission devices, working and power machines and equipment, measuring and control instruments and devices, computer technology, vehicles, tools, production and household equipment and accessories, working and productive livestock, perennial plantings , on-farm roads, etc. This grouping is of great importance for calculating depreciation, calculating indicators of the use of fixed assets, as well as for studying their dynamics and structure;

by functional purpose fixed assets are divided into production and non-production. Production fixed assets are means of labor directly involved in the production process or creating conditions for its normal implementation (machines, equipment, buildings, etc.) and constituting the material and technical base of the enterprise. Non-productive fixed assets bear a social burden and are not directly involved in the production process. these include healthcare, education, physical culture, public catering and housing and communal services, which are on the balance sheet of the enterprise and are intended to meet the various needs of employees;

Depending on degree of participation in the production process in the practice of planning and economic analysis, fixed production assets are divided into active and passive. Active part funds affects the volume of production and its quality, directly affecting the subject of labor (machinery and equipment). Passive fixed assets do not directly affect the subject of labor, but create conditions for the normal functioning of production (buildings, structures, etc.). An increase in the share of the active part in the structure of fixed production assets is considered to be a favorable trend for an enterprise, since this is one of the factors in increasing the economic efficiency of the enterprise.

Analysis of the availability and use of fixed assets at an enterprise, their quality condition and reproduction is impossible without determining their structure. Each enterprise should strive to achieve the optimal type, age and technological structure of fixed assets.

Species (production) the structure of fixed production assets is characterized by the share of each group of assets by natural-material composition in their total average annual value. The production structure depends on many factors, including the industry of the enterprise, the geographical location of production, the size of the enterprise, the technical level of production and the pace of industrial development, the level of concentration, specialization, cooperation, combination and diversification of production.

Age the structure of fixed production assets is the ratio of individual age groups of assets in their total value. In economic analysis, the following distribution of funds by age is accepted: up to 5 years; from 5 to 10; from 10 to 15; from 15 to 20; over 20 years. The age structure allows us to calculate the average age of fixed assets as a weighted average.

Technological the structure of fixed production assets reflects their distribution among the structural divisions of the enterprise and the share of the assets of each division in their total value.

Accounting and valuation of fixed assets carried out in kind and in monetary terms. Pathological indicators make it possible to obtain data for calculating production capacity, equipment balance, and technical level of production. They are calculated for each group of fixed assets according to their natural composition. Valuation is necessary for accounting, analysis and planning, to determine the dynamics and structure of fixed assets, depreciation charges, indicators of the efficiency of use of fixed assets, as well as to calculate the volume and structure of investments.

The valuation of fixed assets is carried out in the following areas.

Initial cost fixed assets. Allows you to determine the amount of costs for their purchase or construction and is the basis for their registration and determination of depreciation charges for renovation (full restoration). It includes all costs for the construction (construction) or acquisition of fixed assets, including delivery and installation costs, as well as other costs necessary to bring this facility to a state of readiness for operation for its intended purpose (with the exception of PDS). Methods for the initial assessment of fixed assets largely depend on the source of receipt of fixed assets for the enterprise. For example, the initial cost of fixed assets contributed by the founders to the authorized capital of the enterprise is determined by agreement of the parties; the initial cost of fixed assets manufactured at the enterprise itself, as well as purchased for a fee from other enterprises - based on the actual costs incurred for the construction (construction) or acquisition of these objects, including the costs of delivery, installation and installation. If used fixed assets are received free of charge, they are usually valued at their residual value.

Fixed assets of an enterprise can be created and acquired at different times, so their initial assessment may not be comparable with real conditions. As a result, fixed assets in an enterprise are valued at restorative cost, which refers to the cost of their reproduction in modern conditions. The deviation of the replacement cost of fixed assets from the original cost depends mainly on the rate of inflation and scientific and technical progress. Replacement cost is determined as a result of revaluation of fixed assets.

Revaluation of fixed assets(determining their real value) allows you to objectively assess the true value of fixed assets; more correctly and accurately determine the costs of production and sales of products, as well as the amount of depreciation charges sufficient for the simple reproduction of fixed assets; objectively set sales prices for the fixed assets being sold and rent (if they are leased). During the transition to a market economy, which was accompanied by high rates of inflation, the revaluation of fixed assets was carried out six times: on July 1, 1992, on January 1, 1994, on January 1, 1995, on January 1, 1996, on 1 January 1997 and January 1, 1998 (selected).

Residual the cost is the difference between the original, or replacement, cost and the amount of depreciation, i.e. this is that part of the cost of fixed assets that has not yet been transferred to manufactured products. Determining the residual value is necessary, first of all, to assess the quality condition and plans for the reproduction of fixed assets, as well as to draw up a balance sheet.

The enterprise may also determine liquidation the cost of fixed assets, which is established by subtracting proceeds from the sale of worn-out or decommissioned fixed assets and the cost of dismantling them.

4.2. Depreciation, amortization and reproduction of fixed assets

One of the features of an enterprise's fixed assets is their repeated use in the production process. However, over time, fixed assets lose their original characteristics due to use and natural wear and tear.

A distinction is made between physical and obsolete depreciation of fixed assets.

Under physical wear and tear refers to the loss of the means of labor of their original production and technical qualities in the process of their use. A distinction is made between complete physical wear and tear, which leads to the liquidation or replacement of fixed assets with new ones (capital construction), and partial, which is compensated through repairs. In addition, physical wear and tear can occur as a result of the use of a fixed asset (physical wear of the first type) and as a result of natural adverse effects, such as, for example, oxidation (physical wear of the second type).

The level of physical deterioration of fixed assets depends on the initial quality of the latter, the degree of their operation, the level of aggressiveness of the environment in which fixed assets operate, the level of qualifications of maintenance personnel, the timeliness of repairs, etc.

To analyze the degree of physical deterioration of fixed assets, the following indicators are used:

1) coefficient of physical depreciation of fixed assets:

where I is the amount of depreciation of fixed assets (accrued depreciation for the entire period of operation);

Ps is the initial, or replacement, cost of fixed assets.

Physical wear and tear can also be determined by service life:

where Tf is the actual service life of the object;

Tn – standard service life of the object;

2) the serviceability coefficient of fixed assets, characterizing their physical condition at specific date, is calculated by the formula:

The serviceability coefficient can also be determined based on the physical wear coefficient:

Along with physical wear and tear, fixed assets undergo obsolescence(depreciation). It manifests itself in the fact that there is a decrease in the efficiency of using fixed assets in production due to the fact that the means of labor depreciate, lose value before their physical wear and tear, before the end of their physical service life. Obsolescence is a direct consequence of scientific and technical progress and is expressed in two forms. The first form of obsolescence is that machinery and equipment depreciate due to the reduction in the cost of their reproduction in modern conditions. The second form of obsolescence is due to the introduction into production of more technically advanced, productive and economical machines, as a result of which the value of old machines that are still physically usable occurs.

Some economists identify a third type of wear and tear - social, when there is a discrepancy between the social characteristics of an object of fixed assets (safety, level of harmful emissions, lighting) with their normal level in society.

The degree of depreciation of the enterprise's fixed production assets directly affects the volume and quality of products, its competitiveness, the level of production costs and the efficiency of the enterprise. Therefore, one of the most important management tasks is to monitor the condition of fixed assets in order to prevent their excessive physical and moral wear and tear.

To economically compensate for the depreciation of fixed assets, their cost in the form of depreciation charges is included monthly in the costs of production. Depreciation is a gradual transfer of the value of fixed production assets to newly created products.

Depreciation deductions are made by enterprises on a monthly basis based on depreciation rates and the book value of fixed production assets for individual groups or inventory items on the enterprise's balance sheet.

Depreciation rate represents the established annual percentage of repayment of the cost of fixed assets and establishes the amount of annual depreciation charges. The methodology for determining depreciation rates is the same for all enterprises, regardless of ownership and organizational and legal forms, and provides for the establishment of standards based on the classifier of fixed assets. According to the classifier, all depreciable property is divided into depreciation groups depending on its useful life. Thus, the first depreciation group includes all short-lived fixed assets with a useful life of one to two years, and the tenth depreciation group includes property with a useful life of over 30 years. The useful life within the specified boundaries is determined by the enterprise independently on the date of putting the fixed asset into operation.

To calculate depreciation of fixed assets, one of the following can be used: ways:

linear method involves the accrual of depreciation evenly, based on the original cost of the fixed asset and the depreciation rate calculated based on the useful life of this object. This method applies to buildings, structures, transmission devices included in the eighth - tenth depreciation groups;

reducing balance method. Depreciation is calculated based on the residual value of the fixed asset at the beginning of the reporting year and the depreciation rate established based on the useful life of this object;

a method of writing off value by the sum of the numbers of years. The calculation of the amount of depreciation charges is made based on the original cost of the fixed asset object and the annual ratio, where the numerator is the number of years remaining until the end of the asset’s service life, and the denominator is the sum of the numbers of years of the asset’s service life;

a method of writing off cost in proportion to the volume of production. Depreciation is accrued based on the natural indicator of the volume of production in the reporting period and the ratio of the initial cost of the fixed asset object and the expected volume of production for the entire useful life of the object.

The use of one of the methods for a group of homogeneous fixed assets is carried out throughout its entire useful life.

To determine the amount of depreciation for the planned period, you must:

Group existing fixed assets at the beginning of the planning period according to a single classifier and calculate their value (excluding fully depreciated ones);

Find the average annual cost of fixed assets for each group;

Set the amount of depreciation charges for the planned period.

Depreciation accrual for fixed assets newly put into operation begins on the first day of the month following the month of their commissioning, and for retired fixed assets it stops from the first day of the month following the month of disposal.

In addition to the above methods, in order to strengthen the interest of enterprises in the accelerated renewal of fixed capital, accelerated depreciation of the active part of fixed assets is also allowed. When introducing accelerated depreciation, enterprises use a uniform method of accrual, while in the first year of operation up to 50% of the cost of the fixed asset is written off as costs. The method applies only to the active part of fixed assets whose service life exceeds three years. Accelerated depreciation allows an enterprise to speed up the process of updating fixed assets, accumulate funds for technical re-equipment and reconstruction, and avoid moral and physical wear and tear of labor.

Reproduction of fixed assets– this is a continuous process of their renewal through the acquisition of new ones, reconstruction, technical re-equipment, modernization and overhaul. Its main goals are to replace worn-out fixed assets, increase the mass of fixed assets, provide enterprises with them in accordance with the production program and maintain them in working condition.

There are two types of reproduction of fixed assets. Simple reproduction involves the renewal of fixed assets on a constant scale by replacing obsolete means of labor and major repairs. Advanced reproduction involves updating fixed assets in an increasing volume, i.e. increasing their physical volume through new construction, expansion of existing enterprises, reconstruction and technical re-equipment, modernization of equipment.

In a market economy, the process of reproduction of fixed assets can be carried out from various sources. Fixed assets for reproduction come from contributions to the authorized capital; at the expense of profits remaining at the disposal of the enterprise; as a result of gratuitous transfer; by rent.

Analysis of the process of reproduction of fixed assets involves the calculation of the following indicators:

1) coefficient of renewal of fixed assets:

where Kobn is the renewal coefficient, %;

Fk – cost of fixed assets at the end of the year, rub.;

Fv – cost of fixed assets put into operation during the year, rub.

2) retirement rate of fixed assets:

where Fl is the cost of fixed assets liquidated during the year, rub.;

Fn – cost of fixed assets at the beginning of the year, rub.

The excess of the renewal coefficient over the retirement coefficient indicates that the enterprise is in the process of updating fixed assets.

One of the important tasks of the production and economic activity of the enterprise is maintaining the equipment used in good technical condition. This problem is solved, on the one hand, by strict adherence to the rules of equipment operation, on the other hand, by organizing repair maintenance of equipment, including maintenance and repairs.

Equipment Maintenance– this is a set of works to maintain the functionality of equipment during storage, transportation, preparation for use and operation.

Repair– a set of technical, economic and organizational measures related to the maintenance and partial (or complete) restoration of the consumer value of fixed assets or objects of labor.

Enterprises carry out two types of repairs of fixed assets: planned, carried out according to a predetermined schedule, and unscheduled, carried out when equipment stops or breaks down or the passive part of fixed assets is in an emergency.

System of scheduled preventive maintenance (PPR) – This is a set of organizational and technical measures for the care, supervision, maintenance and repair of equipment to maintain it in normal working condition, ensure maximum productivity and increase service life.

Scheduled repairs Based on the volume of work performed and sources of financing, it can be divided into three categories: current, medium, capital. Current is a repair that is minimal in scope of work, in which by replacing or restoring wearing parts and adjusting mechanisms, normal operation of the equipment is achieved until the next scheduled repair. Medium renovation– repairs performed to restore serviceability and partially restore equipment resources with the replacement or restoration of components of a limited range and monitoring the technical condition of the components. Capital repair is a type of planned repair carried out with the aim of restoring the life of equipment with the replacement or restoration of any of its parts (including basic ones) and their adjustment.

The costs of repairs are included in the costs of production and sales of products. They depend on the degree of physical wear and tear of fixed assets, the quality of repairs carried out and the level of qualifications of personnel servicing machines and equipment. Among the areas for reducing repair costs, one can note the timely and high-quality implementation of scheduled preventative repairs, the economic justification for major repairs, and the restoration of worn parts directly at the enterprise.

Modernization represents a technical improvement of the OPF in order to eliminate obsolescence and increase technical and economic indicators to the level of the latest equipment.

4.3. Indicators and ways to improve the use of fixed assets in an enterprise

An analysis of the efficiency of the use of fixed assets at an enterprise is carried out in order to identify the most important factors influencing the level of use of labor resources, as well as to determine the reserves for their use. The information base for the analysis consists of accounting and statistical reporting data, primary materials, and materials from individual special studies.

The main indicators of the efficiency of using fixed assets can be combined into four groups.

1. General indicators of the use of fixed assets.

Capital productivity(Фо) is the indicator of production output per one ruble of the cost of fixed assets; is defined as the ratio of the actual volume of output to the average annual cost of fixed production assets:

where Vf is the cost of marketable or normatively pure products produced per year, rub.;

The greater the value of capital productivity, the more efficiently the enterprise's fixed assets are used. The level of capital productivity is influenced by the following factors: the share of the active part of funds, the level of specialization and cooperation, the level of prices for products, as well as the use of equipment in terms of time and capacity.

Capital intensity(Fe) – the reciprocal value of capital productivity; shows the share of the cost of OPF attributable to each ruble of manufactured products.

Profitability of fixed production assets(Iaopf) characterizes the amount of profit per one ruble of funds:

where P is profit, rub.;

F – average annual cost of fixed production assets, rub.

The level of provision of workers with fixed assets is determined by the indicator capital-labor ratio. Capital-labor ratio is the ratio of the cost of fixed production assets to the number of employees:

However, the capital-labor ratio is not an indicator of the efficiency of using fixed assets to the fullest extent, since the calculation of any efficiency indicator involves comparing the result (effect) with the costs that caused it.

2. Indicators of extensive use of fixed assets reflect the level of their use over time.

Extensive equipment utilization rate(Kext) is defined as the ratio of the actual number of operating hours of equipment (Tf) to the number of standard operating hours (Tn):

Shift rate equipment operation (Ksm) is the ratio of the total number of machine-tool shifts worked by the equipment (Dstsm) to the number of machines working in the largest shift (n):

Equipment load factor(Kzagr) – the ratio of the actual shift ratio of work to the planned shift of equipment:

3. Indicators of intensive use of fixed assets reflect the level of their power use.

Intensive use factor equipment (Kint) - the ratio of the actual productivity of equipment (Pf) to the standard or production capacity (Pn):

4. Indicators of integral use, taking into account the combined influence of extensive and intensive factors.

Integral utilization factor equipment (Kintegra) comprehensively characterizes its operation in terms of time and power and is the product of the coefficients of extensive and intensive use of equipment:

K integral = Kext K int

Ways to improve the use of fixed assets at an enterprise:

#8594; increasing work shifts, reducing intra-shift and all-day downtime of equipment, as well as the amount of idle equipment;

#8594; improving the organization of auxiliary and service production of the enterprise, ensuring the centralization of repair services (where appropriate);

#8594; timely and high-quality implementation of scheduled maintenance and major repairs, increasing the level of qualifications of service personnel;

#8594; timely updating of the OPF, especially the active part, in order to prevent excessive physical and moral wear and tear;

#8594; improving the quality of preparation of raw materials and materials for the production process;

#8594; improving technological processes, increasing the level of mechanization and automation of production, ensuring fund-saving development of the enterprise;

#8594; improving the organization of production, labor, logistics and tactical planning.

Conclusions

1. Fixed assets are means of labor that are repeatedly involved in the production process and transfer their value to products in parts as they wear out. They are classified according to their natural composition, functional purpose and degree of participation in the production process. Valuation of fixed assets involves determining the initial, replacement, residual and liquidation values.

2. Fixed assets are subject to physical and moral wear and tear over time. One of the most important tasks of an enterprise is to prevent excessive wear and tear of the material and technical base.

3. The cost of fixed assets is transferred to manufactured products in the form of depreciation charges. The depreciation policy of an enterprise directly affects the reproduction of fixed assets.

4. The efficiency of using the fixed capital of an enterprise can be determined by calculating the indicators of the use of fixed assets.

5. Analysis of the efficiency of using fixed assets at an enterprise allows us to outline ways to improve their use, the implementation of which leads to a reduction in the cost of materialized labor per unit of production and an increase in production efficiency.

1 FIXED CAPITAL OF THE ENTERPRISE, ECONOMIC CONTENT, SOURCES OF FINANCING, REPRODUCTION OF CAPITAL……………………………………………………………………………………………….....3

2 FINANCIAL PLANNING, CONTENT AND GOALS, TYPES AND

METHODS………………………………………………………………………………17

3 TASK……………………………………………………………………………….27

LIST OF SOURCES USED………………………………………………………29

1 FIXED CAPITAL OF THE ENTERPRISE, ECONOMIC CONTENT, SOURCES OF FINANCING, REPRODUCTION OF CAPITAL

Fixed capital of the enterprise, its composition and structure

Fixed capital is the monetary value of fixed assets. The fixed assets of an industrial enterprise are a set of material assets created by social labor, long-term participating in the production process in an unchanged natural form and transferring their value to manufactured products in parts as they wear out.
There are several classifications of fixed assets. Depending on the nature of the participation of fixed assets in the sphere of material production, they are divided:

Production fixed assets (machinery, equipment, hydraulic structures - dams, canals, reservoirs; transport structures - bridges, roads, tunnels; electrical networks, pipelines, etc.). They function in the production process, constantly participate in it, wear out gradually, transferring their value to the finished product, they are replenished through capital investments;
- non-productive fixed assets (residential buildings, kindergartens, schools, baths, laundries and other household and cultural facilities, healthcare, etc.). They are intended to serve the production process, and therefore are not directly involved in it, and do not transfer their value to the product, because it is not produced; They are reproduced at the expense of national income.
Fixed assets are the most important and predominant part of all funds in industry (meaning fixed and circulating assets, as well as circulating funds). They determine the production capacity of enterprises, characterize their technical equipment, and are directly related to labor productivity, mechanization, production automation, production costs, profits and profitability levels.

According to the existing classification, fixed assets of industry, according to their composition, depending on the intended purpose and functions performed, are divided into the following types:

Facilities

Transfer devices

Machinery and equipment, including:

a) power;

b) workers;

c) measuring and regulating items;

d) computer technology;

d) others.

Vehicles

Tools

Production equipment and supplies

Other fixed assets (draft animals, perennial plantings).

Each group consists of many different means of labor. In the building group there are three subgroups: industrial buildings, non-industrial buildings and housing. Structures are divided into underground, oil and gas wells, and mine workings. Transmission devices include pipelines and water pipes. Power machines are turbines and electric motors. Working machines and equipment are divided depending on the industries of use. Tools and equipment are taken into account as part of fixed assets only if they last more than one year and cost more than 300 rubles (if less, then these are already low-value and wear-out items and are included in working capital).
Buildings and structures for production purposes, transmission devices, machinery and equipment, vehicles form fixed assets for production purposes.
The ratio of individual groups of fixed assets to their total volume represents the type (production) structure of fixed assets. Depending on their direct participation in the production process, production fixed assets are divided into: active (serve critical areas of production and characterize the production capabilities of the enterprise) and passive (buildings, structures, equipment that ensure the normal functioning of the active elements of fixed assets).
Basically, the mass of production fixed assets in industry is concentrated in the active part.
The composition and structure of fixed assets depend on the specialization of the industry, technology and organization of production, and technical equipment. The structure of fixed assets may vary by industry and within a particular industry due to the same reasons.
For better use of fixed assets during their operation, it is necessary to keep clear records of the availability and movement of fixed assets in the enterprise. This accounting should provide knowledge of the total size of fixed assets, their dynamics, the degree of their influence on the level of production costs, and others.

Sources of financing, main features

Sources of financing are functioning and expected channels for obtaining financial resources, as well as a list of economic entities that can provide these financial resources. The basis of the project financing strategy is to develop financing schemes based on individual characteristics project and factors influencing it.

The following main types of financing strategy are distinguished depending on the sources of financing:

Financing from internal sources.

Financing from raised funds.

Debt financing.

Mixed (complex, combined) financing.

Internal sources are the enterprise's own funds - profit and depreciation charges.

Reinvestment of profits is the most acceptable and relatively cheap form of financing for an enterprise expanding its activities.

Features of external sources of financing:

1. Attracted investments:

The investor is interested in high profits and the company itself. The investor may (or may not) have any intention of ever divesting the investment. The investor's share of ownership is determined from the ratio of his investments to the entire capital of the company.

2. Borrowed investments:

The company receives a contractual obligation to repay the loan amount. The loan must be repaid in accordance with the terms under which it was received. The company pays interest on the loan received; The company provides the necessary and acceptable guarantees for the lender (possibly the personal property of the owners). If the loan is not repaid according to the agreed schedule, the lender may withdraw the guarantee. Once the loan amount is returned, obligations to the lender cease.

When implementing a financing strategy, the following financial instruments (financing schemes) can be used in combination, providing funds from various sources:

Sale of a share to a financial investor;

Sale of a share to a strategic investor;

Venture financing;

Public offering of securities (IPO);

Closed (private) placement of securities;

Access to Western financial markets (depository receipts);

Bank loans, lines of credit, loans;

Commercial (commodity) loan;

State credit (investment tax credit);

Bond loan;

Project financing;

Insurance of export operations;

Franchising;

Factoring;

Forfaiting;

Grants and charitable contributions;

Research and Development Agreement;

Government funding;

Issue of a bill;

Settlement;

The most typical financial instruments for Russia are discussed below.

Sale of a share to a financial or strategic investor

There are two types of equity investors.

Financial type investor:

Strives to maximize the value of the company, has only a financial interest - to receive the greatest profit mainly at the time of exit from the project;

Does not seek to acquire a controlling stake;

Does not seek to change the company's management;

Prefers an investment horizon of 4-6 years;

Usually consolidates its control by participating in the Board of Directors.

In Russia, financial investors are represented by investment companies and funds, venture investment funds.

Strategic type investor:

Strives to obtain additional benefits for its main activity;

Strives for complete control, sometimes at the cost of destroying the company;

Actively participates in the management of the company;

Mainly seeks to invest in companies from related industries;

- investor “participation” is often not limited to specific deadlines.

At the same time, the company receiving the investment can also receive additional benefits (for example, in the form of guaranteed supplies and sales, personnel, know-how, supply chains, etc.). In Russia, strategic investors are represented mainly by large transnational companies interested in gaining full control over the business.

Consignment is usually used when selling new, atypical goods, the demand for which is difficult to predict. Merchants do not want to take risks and therefore offer only such working conditions to suppliers. For example, when selling new textbooks for institutes, book publishers send their books to retail outlets with the condition of returning them if they are not purchased. Sometimes this approach is also called “hand over the goods for sale.”

Accounts receivable management

Managers responsible for commercial credit transactions are required to carefully monitor accounts receivable results. Smart managers are always looking for ways to meet the credit needs of their clients, while achieving their own goals and fulfilling the responsibilities of maintaining cash flow into the company.
Big company may have thousands of clients. It is impossible to control the debt of each client, so the accounts receivable control system must be built in such a way as to enable the manager to calculate the compliance of the balance of accounts receivable with the credit conditions of the corporation and automatically show customers with a critical discrepancy.