The means of production at socialist enterprises form their production assets. Enterprise funds are divided into fixed and current, depending on participation in manufacturing process.
Fixed assets are divided into production, i.e., used for the production of products, and non-production. Manufacturing assets include industrial buildings, machines, machines, equipment. belong to non-production residential buildings, clubs, nurseries, kindergartens, stadiums, schools.
Circulating assets include objects of labor - metal, ore, wool, fuel, etc. Circulating assets are necessary for production finished products.
Fixed assets participate in production for many years and transfer their value to the manufactured products in parts. For example, a loom lasts for many years, and during this time it can be used to weave millions of meters of fabric. The cost of each meter includes its share of the cost of the machine. The restoration of depreciating fixed assets is carried out at the expense of depreciation deductions (depreciation - compensation for the depreciation of fixed assets, the gradual transfer of their value per unit of output).
Working capital in each production process (production cycle) is spent entirely, so their entire cost is fully included in the cost of manufacturing finished products.
For example, the cost of one meter of fabric will fully include the cost of the yarn used to make it.
Production equipment and machines are an active part of fixed assets. The better equipped enterprises modern equipment, the greater the productivity of labor and the volume of output. Therefore, socialist society is interested in increasing the share of machinery and equipment in fixed assets and in reducing the share of passive fixed assets, primarily buildings.
To improve the use of production assets means to manage in such a way that from each ruble invested in the funds we get the maximum output. An indicator of the efficiency of the use of fixed assets is capital productivity - the number of products received per ruble of fixed production assets.
Revolving funds consist of 2 parts. The first is production stocks: raw materials, basic and auxiliary materials, fuel, purchased semi-finished products ...
The second part of working capital is work in progress: semi-finished products, objects of labor that are in the process of processing, as well as the costs of preparing and developing new products.
Stocks are spent, coming from warehouses to workshops, to workplaces. They turn into finished products. Products are sold to consumers. With the proceeds, the enterprise again buys the raw materials, materials, fuel, equipment, etc., necessary for the manufacture and production of new batches of finished products.
An enterprise can operate normally if this turnover of material resources is continuous.
Fixed assets- this is a set of material and material values participating in the production process for a long period of time and in parts transferring their value to manufactured products without changing their natural material form.
Composition of fixed assets:
Fixed assets are classified according to the following criteria:
in operation,
in stock.
Indicators of the condition of fixed assets include the wear factor and the coefficient of validity. They are calculated as follows:
Wear factor:
Kizn \u003d Amount of depreciation / OPFperv,
where OPFperv is the initial cost of fixed assets.
Validity ratio:
Kgodn \u003d OPFost / OPFperv \u003d 1-Kizn
where OPFost is the residual value of the OPF
The indicators of the movement of fixed assets include:
Refresh rate:
Kobn \u003d OPFvv / OPFk.g.
Retirement rate:
Kvyb \u003d OPFvyb / OPF n.g.
Growth rate:
Kprir \u003d (OPFvv - OPFvyb) / OPFk.g.
where OPFk.g. = OPF n.g. + OPFvv - OPFvyb (10)
The indicators of the efficiency of the use of fixed assets include:
Return on assets - the volume of output in value terms per one ruble of the average annual value of fixed assets.
Fo \u003d Vproduction / OPFav,
where OPFav is the average annual cost of OPF
Capital intensity - the reciprocal value of capital productivity, characterizes the cost of fixed assets to create a unit of production:
Fe = OPFavg / Vproduction
Capital-labor ratio - shows the degree of armament of workers with fixed assets:
Fv \u003d OPFsr, / H
where h - average headcount workers.
To calculate these indicators, you need the value of the average annual cost of fixed assets, which is calculated by the formula:
OPFsr / year \u003d OPFn.g. + (OPFvv /12 * t1) - (OPFselect /12 * t2)
where OPFn.g. - the value of fixed assets at the beginning of the year,
OPFvved - the cost of input fixed assets,
OPFvyb -- the cost of liquidated fixed assets,
t1, t2 - the number of months of functioning of fixed assets, respectively, introduced and liquidated before the end of the year from the moment of commissioning or disposal, not counting the month of commissioning or liquidation.
working capital represent a set of funds advanced to create working capital and circulation funds, ensuring their continuous circulation (see Appendix 23 and 24).
Working capital - material assets that participate in one production cycle. They are completely consumed and transfer their value to newly manufactured products.
Working capital ensures the continuity of production and sales of the company's products. After the end of the production cycle, the manufacture of finished products and their sale, the cost of working capital is reimbursed as part of the proceeds from the sale of products (works, services). This creates the possibility of a systematic resumption of the production process, which is carried out through the continuous circulation of enterprise funds.
In your movement working capital go through three stages in succession: monetary, productive and commodity.
The first stage of the circulation of funds is preparatory. It takes place in the sphere of circulation. Here is the transformation of cash into the form of inventories.
The production stage is the direct production process. At this stage, the cost of created products continues to be advanced, but not in full, but in the amount of the cost of used production stocks, the costs of production are additionally advanced. wages and related expenses, as well as the carry-forward value of fixed assets. The productive stage of the circuit ends with the release of finished products, after which the stage of its implementation begins.
At the third stage of the circuit, the product of labor (finished product) continues to be advanced in the same amount as at the second stage. Only after the commodity form of the cost of manufactured products has been converted into cash, the advanced funds are restored at the expense of a part of the proceeds received from the sale of products. The rest of its amount is cash savings, which are used in accordance with the plan for their distribution. Part of the savings (profit), intended for the expansion of working capital, joins them and makes subsequent cycles of turnover with them.
Fixed and working capital is one of the constituent parts enterprise property. The state and efficiency of their use is one of the main conditions for the successful operation of an enterprise. The development of market relations determines the new conditions for their organization. High inflation, non-payments and other crisis phenomena are forcing enterprises to change their policy in relation to fixed and working capital, to look for new sources of replenishment, to study the problem of the effectiveness of their use.
One of the conditions for the continuity of production is the constant renewal of its material basis - the means of production. In turn, this predetermines the continuity of the movement of the means of production themselves, which occurs in the form of their circulation.
In its turnover, the main circulating assets consistently take on a monetary, productive and commodity form, which corresponds to their division into production assets and circulation funds.
The material carrier of production assets are the means of production, which are divided into objects of labor and tools of labor. Finished products, together with cash and funds in settlements, form circulation funds.
Fixed and current assets are two very similar concepts, but they have significant differences that manifest themselves in: the nature and timing of operation, in the order of transferring value to the products and services produced, in the sources of their compensation.
And what they have in common is that both fixed and current assets are factors in the production of products, goods and services and integral part enterprise property.
The most important element of material resources are fixed assets.
Fixed assets are a set of material and material assets that function for a long period of time in an unchanged natural and material form and transfer their value to the finished product in parts as they wear out. These include means of labor with a service life of more than one year.
The fixed assets of enterprises in the restaurant and hotel business can be divided according to various criteria.
According to the nature of participation in the process of production of goods and services, their implementation and maintenance, fixed assets are divided into production and non-production fixed assets. Fixed production assets in the process of functioning transfer their value to the produced product or service and are reimbursed at the expense of the transferred cost (depreciation).
Non-production fixed assets are intended to provide living conditions, recreation, health improvement, cultural recreation for employees of the restaurant and hotel business and their children (residential buildings, clinics, cultural centers, etc.). The cost of non-productive fixed assets gradually disappears during operation, their cost is not depreciated, and they are reproduced at the expense of profits or other investment resources of the enterprise (borrowed or borrowed funds).
The main production assets, according to the nature of their participation in the production process, are divided into active (directly participating in the production process) and passive, creating conditions for the implementation of the production process (buildings, structures, etc.).
Fixed assets of enterprises Catering can, in particular, be divided according to the functions performed by the industry. On this basis, fixed assets related to the production, sale and organization of consumption of culinary products can be allocated.
In the practice of accounting and analysis, various indicators for measuring fixed assets are used: cost and natural.
In-kind indicators involve accounting and analysis of fixed assets on a material-material (species) basis.
Cost indicators involve the assessment of fixed assets at cost, divided into initial, recovery and residual.
The initial cost of fixed assets is the sum of all funds for the creation and acquisition of fixed assets, or the cost of fixed assets at the time they are put into operation. The initial cost is formed in the prices of the corresponding years. Fixed assets are recorded on the balance sheet of the enterprise at historical cost, therefore the initial cost is also called the book value. It is the basis for depreciation.
The replacement cost of fixed assets is the value of previously produced fixed assets at the prices of current years. The replacement value is attached to fixed assets at the time of their revaluation, the timing of which is approved by the government of the Russian Federation.
The residual value of property, plant and equipment is the part of the unrecovered cost that has not yet been transferred to the manufactured product.
Fixed assets, subjected to physical wear and tear in the production process, annually lose part of their value, equal to the value transferred to the products manufactured during this year. For example, if a machine has a life of eight years after its second year of operation, the wear rate would be 25%. This value is determined by the following formula:
where From - depreciation of fixed assets,%;
C - the actual life of fixed assets, years;
Ns - term beneficial use fixed assets (amortization period), years;
It is known that during the operation of fixed assets there comes a period when they need to be repaired, improved or replaced with new ones. To repair an old or buy a new car, you need money. They are created and accumulated during the operation of fixed assets, since in the process of realization their part of the value is transferred to the cost of goods. The specified part of the cost of fixed assets is included in the costs of the enterprise in the form of depreciation.
Depreciation and depreciation are not identical concepts. The measure of consumption of the fixed capital of an enterprise is depreciation, the monetary expression of which is depreciation deductions, which are part of the cost of fixed capital transferred to the finished product in each production cycle.
Depreciation in monetary form expresses the depreciation of fixed assets. It may not coincide with the amount of depreciation in certain periods, since fixed assets wear out unevenly, and depreciation is charged in equal shares throughout the year.
Depreciation in trade and public catering is the planned repayment of the cost of fixed assets (as they wear out) by transferring it to manufactured products. It solves the following main tasks:
allows you to determine the total social costs of production. In this role, depreciation is necessary to calculate the volume and reveal the dynamics of the country's gross domestic product;
characterizes in a generalized form the degree of depreciation of fixed assets, which is necessary for planning the process of their reproduction;
creates a monetary fund for the replacement of worn-out means of labor and their overhaul.
The structure of fixed assets of each subject of trade is formed under the influence of internal and external factors. The most important of them are: the specialization of a trading enterprise, its type, the volume of trade, the level of mechanization and automation of labor, the climatic and geographical conditions of the location of firms. Taking into account their impact, the structure of fixed assets of retail, wholesale firms and public catering enterprises is different, however, the directions for its improvement are the same for all economic entities. Improving the structure of fixed assets allows:
renewal and modernization of trade and technological equipment;
improving the structure of equipment by increasing the proportion of its progressive elements;
better use of buildings and structures, involvement in technological process free space;
¦ elimination of superfluous and unused objects;
¦ the correct development of building plans and their high-quality use.
Lecture 11
Enterprises
1. Fixed and working capital of enterprises.
2. Capital investments.
3. Finance.
4. Intangible assets.
Fixed and current assets of enterprises
fixed assets- these are the means of labor that participate in the production process, while maintaining their natural form.
Fixed assets - tangible assets that the enterprise holds for the purpose of using them in the process of production or supply of goods, provision of services, leasing to other persons or for the implementation of administrative and socio-cultural functions.
They are intended for the needs of the main activity of the organization and must have a period of use of more than a year. As the cost of fixed assets decreases and is transferred to the cost price using depreciation.
The cost of fixed assets minus accumulated depreciation is called net fixed assets or residual value. Fixed assets are accepted for accounting at their original cost, but in the future balance sheet fixed assets are recorded at their residual value. The residual value of fixed assets is determined as the difference between the original (replacement) cost and depreciation.
There are the following groups of fixed assets:
1. Buildings (buildings of workshops, warehouses, production laboratories, etc.).
2. Structures (engineering and construction facilities that create conditions for the implementation of the production process: overpasses, car roads, tunnels).
3. On-farm roads.
4. Transmission devices (electrical networks, heating networks, gas networks).
5. Machinery and equipment, including:
Power machines and equipment (generators, electric motors, steam engines, turbines, etc.);
Working machines and equipment (metal-cutting machines, presses, electric furnaces, etc.);
Measuring and regulating instruments and devices, laboratory equipment;
Automatic machines, equipment and lines (automatic machines, automatic production lines);
Other machines and equipment;
Vehicles (wagons, cars, carts, carts);
Tools (cutting, pressing, fixtures for fastening, mounting), except for special ones;
Production equipment and accessories (racks, work tables, etc.);
Household inventory;
Other fixed assets (this includes library funds, museum valuables).
Fixed assets also include capital investments for radical land improvement (drainage, irrigation and other land reclamation works); capital investments in leased fixed assets; land, objects of nature management (water, subsoil and other natural resources).
To recognize an object as a fixed asset, it is necessary to perform following conditions:
The cost of the object must be more than 40,000 rubles;
The object is intended for use in the production of products, in the performance of work or the provision of services, for the management needs of the organization or for provision by the organization for a fee for temporary possession and use or for temporary use;
The object is intended for use for a long time, that is, a period lasting more than 12 months or a normal operating cycle if it exceeds 12 months;
The organization does not assume the subsequent resale of this object;
The object is able to bring economic benefits (income) to the organization in the future.
should be distinguished from fixed assets. working capital, including such objects of labor as raw materials, basic and auxiliary materials, fuel, containers, etc. Working capital consumed in one production cycle is materially included in the product and completely transfers its value to it.
Fixed assets are divided into production and non-production. Production facilities are involved in the process of manufacturing products or providing services. These include machine tools, machines, devices, etc.
Non-productive fixed assets do not participate in the process of creating products. These include residential buildings, kindergartens, clubs, stadiums, hospitals, etc.
Despite the fact that non-production fixed assets do not have any direct impact on the volume of production and labor productivity, a constant increase in these funds is associated with an improvement in the well-being of the employees of the enterprise, an increase in the material and cultural standard of their life, which ultimately affects the improvement of performance enterprises.
The problem of increasing the efficiency of the use of fixed assets and production capacities of enterprises occupies a central place in the activities of the enterprise. The place of the enterprise in industrial production, his financial condition, market competitiveness.
Efficiency of use of fixed assets measured, among other things, by the amount of profit per ruble of investments in fixed assets.
Current assets of the enterprise represent the valuation of circulating production assets and circulation funds. Working capital simultaneously function both in the sphere of production and in the sphere of circulation, ensuring the continuity of the production process and sales of products (Fig. 11.1).
Revolving production assets- this is the part of the means of production that is entirely consumed in each production cycle, fully transfers its value to the products produced and is fully reimbursed after each production cycle. They are classified according to the following elements:
Production stocks (raw materials, basic and auxiliary materials, purchased semi-finished products and components, fuel, packaging, spare parts for equipment repair, low-value and wearing items). The category of low-value and fast-wearing items includes: items that serve less than one year and cost at the date of purchase not more than 100 times (for budget institutions– 50 times) established by law Russian Federation the minimum monthly wage per unit; special tools and special devices, interchangeable equipment, regardless of their cost; special clothing, special footwear, regardless of their cost and service life, etc.;
Work in progress and semi-finished products of own production (WIP);
Deferred expenses, that is, the cost of developing new products, payment for subscription publications, payment of rent for several months in advance, etc. These expenses are written off to the cost of production in future periods;
Funds of circulation, which are a set of funds operating in the sphere of circulation (ready-to-sale products located in the warehouses of the enterprise; products shipped but not yet paid for by the buyer; cash in the cash desk of the enterprise and in bank accounts; as well as funds in unfinished settlements (accounts receivable)).
Working capital is constantly making a cycle, during which there are three stages: supply, production and marketing (realization). At the first stage (supply), the enterprise acquires the necessary inventories for cash. At the second stage (production), inventories enter production and, having passed the form of work in progress and semi-finished products, turn into finished products. At the third stage (sales), finished products are sold and working capital takes the form of money.
Rice. 11.1. The structure of working capital of the enterprise
The most important indicators the use of working capital in the enterprise are the turnover ratio of working capital and the duration of one turnover.
Working capital turnover ratio, showing the number of turnovers made by working capital for the period under review, is determined by the formula
COEP = NRP / FOS,
where NRP is the volume of products sold for the period under review in
wholesale prices, rub.;
FOS - the average balance of all working capital for the considered
period, rub.
Duration of one turn in days, showing the period for which the enterprise returns its working capital in the form of proceeds from the sale of products, is determined by the formula
Tob = n/CEP,
where n is the number of days in the period under consideration.
The acceleration of the turnover of working capital leads to the release of working capital of the enterprise from circulation. On the contrary, a slowdown in turnover leads to an increase in the company's need for working capital. Reducing the turnover time of working capital can be achieved through the use of the following factors:
Outpacing the growth rate of production volumes in comparison with the growth rate of working capital;
Improvement of the supply and marketing system;
Reduction of material consumption and energy intensity of products;
Improving the quality of products and their competitiveness;
Reducing the duration of the production cycle, etc.
The amount of working capital at the disposal of the enterprise must be sufficient so that the process of circulation is not interrupted. At the same time, the presence of excess working capital negatively affects its activities, since it reduces the turnover ratio and, accordingly, increases the duration of the turnover.
Every business needs money, initial capital, to start a business. In general, capital can be of two types - fixed and working, where the first refers to the capital that is invested in the acquisition of fixed assets for the business, while the second is the amount of money allocated for the day-to-day financing of business operations. To the layman, these terms sound the same, but in accounting they differ in many ways.
| Basis for comparison | Fixed capital | working capital |
| Meaning | Fixed assets refer to the investment of the enterprise in the long term of the company's assets. | Working capital means the investment of capital in the company's current assets. |
| Consist of | Durable goods with a useful life of more than one reporting period. | Current assets and liabilities |
| Liquidity | Relatively low liquidity | highly liquid |
| Purpose | Used to buy non-current assets for business | Used for short term financing |
| Serves | Strategic Goals | Operational goals |
Fixed and current assets are important financial indicators of enterprises.
Fixed assets are capital investment made in long-term assets of the company. This mandatory requirement firms during its initial stage to start from scratch or to lead existing business. This is that part of the total capital that is not used for production, but is in business for more than one accounting year. Its nature is permanent and exists in the form of tangible and intangible assets of the company. 
The need for fixed assets in any business depends on the production facilities, railways, telecommunications, infrastructure and requires a high fixed capital in comparison with enterprises engaged in wholesale and retail trade. Used for business promotion, expansion, upgrading and so on.
Fixed capital (OS) is invested in the acquisition of non-current assets. Consequently, depreciation is charged on such assets, depreciating in value over time.
Types of fixed assets used by Russian enterprises:
Fixed assets are also considered capital investments in modernization various kinds infrastructure, objects of nature.
Working capital is a “barometer” that measures the financial stability and performance of an enterprise, is equal to the sum current assets less current liabilities, where current assets can be converted into cash within one year. These amounts were received from your company's balance sheet. For example, if current assets are $450,000 and current liabilities are $320,000 then the company's current assets are $130,000.
Current liabilities are repaid within one year - creditors, tax regulations, short-term loans, bank overdraft, etc. Even with a significant amount of fixed assets, an enterprise may experience a cash deficit when assets are not converted into cash. If the firm has most of its current assets in the form of inventory, the inventory must be sold. Similarly, if a company has a large amount of uncollected receivables, the amount of working capital will decrease.
Working capital is used to finance and pay for operations on a daily basis. Determines the short-term solvency of the company.
These funds can be classified on the following grounds:
Time based:
Based on the concept:
The difference between fixed assets and current assets lies in their purpose. After considering the above points, it is quite obvious that fixed and current assets do not contradict each other in nature, complementing each other, ensuring the beneficial use of the company's fixed assets.
