Working capital, according to the sources of its formation and purpose, is divided into own and borrowed.
Own working capital are funds intended for creating the necessary inventories, completing work in progress: servicing the sphere of circulation, for future expenses and making cash payments.
The need of each ATP for working capital at different times of the year is not the same. At the time of creating seasonal reserves, procurement of agricultural raw materials, fuel for economic needs or when exceeding the plan and other work, it is necessary to have large working capital than in other periods of the year.
The temporary need of the APR for additional working capital forces the APR to resort to the use of borrowed working capital.
Short-term repayable loans provided to an enterprise for temporary use for a strictly defined period for a specified purpose are called borrowed working capital.
The combination of own and borrowed working capital contributes to more effective use funds while strengthening the principles of economic accounting.
On the one hand, enterprises are provided with the minimum necessary working capital and can maneuver these funds. On the other hand, using bank loan allows enterprises to quickly regulate their economic activity, improve the use of working capital.
ATP working capital is divided into standardized and non-standardized.
TO regulated working capital include own working capital operating in the production sector, i.e. inventories, work in progress for vehicle repairs and deferred expenses. These funds are assigned to the enterprise and are the material basis of its activities. In other words, normalized working capital refers to such funds that are allocated by the ATP to create minimum reserves and ensure an uninterrupted transportation process.
When rationing working capital, each enterprise must develop and implement organizational and technical measures to ensure accelerated turnover of working capital. Inventory inventories are determined by production conditions. Planning of working capital standards is carried out in accordance with logistics plans and consumption standards material resources.
Working capital consumption rate- this is a planned target that determines the maximum consumption of inventory items for production.
Based on consumption rates, the enterprise's need for material resources is determined. Standards are established in relation to specific conditions, taking into account the experience of leading production workers. The standards at the enterprise must be systematically reviewed, but inventories should not be allowed to fall below the standards, as this may cause interruptions in the production process.
TO non-standardized working capital These include funds operating in the sphere of circulation, which are covered by a bank loan and available funds in circulation. These are means in calculations and cash. Based on these elements, it is impossible to establish the consumption rate for any natural meter. The company's funds are distributed unevenly and are spent from the current account as needed.
There are non-standardized and standardized working capital. The first includes shipped products that are in transit, but have not been paid for. Working capital at the cash desk or in a current account is also non-standardized. They are more influenced external factors rather than the direct production and economic activities of the organization.
Standardized include all categories of working capital. These are, in particular, inventories, costs of upcoming periods, as well as finished goods in stock.
Rationing of working capital helps to solve two main problems.
Firstly, the correspondence between the size of the enterprise's resources and the need for them is constantly maintained to ensure the minimum required stock of material assets. It should be understood that for each organization such indicators should be established so that during normal business activities it does not experience financial difficulties to ensure the sales and production process.
Secondly, rationing of working capital is used to manage inventory levels. In this case, improvements in economic activity are stimulated, additional resources and reserves are sought, a competent combination of supply forms is formed, etc.
The rationing of working capital in size must correspond to actual production needs. The company sets a minimum, but sufficient requirement. Each group of working capital is controlled at each stage of movement, due to the fact that large inventories require the attraction of resources from other purposes, accounting, security, and a warehouse are necessary.
An underestimated standard will not allow the company to provide the necessary production reserves. In addition, the organization will not be able to pay employees or suppliers on time.
An overestimated standard contributes to the formation of significant reserves. In this case, resources are frozen, which leads to losses. In addition, the amount of payments for increasing the value of the organization’s property is reduced and increased.
Rationing of working capital is the establishment of standards and norms for the corresponding group of resources (funds). Exist various ways to carry out this procedure.
Before you begin to list standardization methods, you should clarify the concepts of norm and standard. In the first case, we talk about relative magnitude. The norm corresponds to the minimum reserve. This is economically justified and is set in days. The standard is the minimum required amount of financial resources. They ensure the economic activities of the organization.
Basic methods of rationing working capital:
- Experimental laboratory.
- Reporting and statistical.
- Analytical.
- Direct account.
- Coefficient.
The fourth component of the funds separately is considered the main one. It is based on the actual need for resources. Other techniques are used in industry as auxiliary ones.
Helps establish a standard for the actual amount of funds in a certain period. This takes into account adjustments for unnecessary stocks and surpluses, changes in supply and production conditions.
The experimental laboratory method involves measuring the expenditure of funds and volumes finished product in pilot production and laboratory conditions.
The reporting and statistical technique is based on the analysis of reporting data (operational or accounting) on the actual consumption of materials per one commodity unit for the previous (base) period.
The coefficient method allows you to set a standard for the upcoming period using the standard for the previous period.
According to the principles of organization, working capital is classified into standardized and non-standardized.
Standardized working capital includes: inventories, work in progress, deferred expenses, finished products.
Rationing of working capital ensures the continuity of the production process and promotes the efficient use of resources of an industrial enterprise.
Non-standardized working capital includes: shipped products, funds in the current account and funds in settlements, accounts receivable.
The amount of standardized working capital must correspond to the real needs of production. When the standard is overestimated, excess production inventories are formed, they are frozen and losses occur. Excessive reserves negatively affect the level of profitability of production and increase the absolute value of property tax.
If the standard is underestimated, violations may occur in the production process and timely shipment of finished products.
Working capital standards are adjusted annually taking into account changes in technology and production organization, reducing the consumption rate of material and labor resources, the duration of the production cycle, the use of new, progressive and cheaper materials, acceleration of shipment and sale of products, changes in prices, tariffs, etc.
Rationing the costs of material resources is aimed at identifying and mobilizing the internal reserves of the enterprise for their more rational use.
The consumption rates of material resources are divided into 5 groups. Depending on: 1)
the purpose of the standardized material, they are classified into consumption rates of the main and auxiliary materials; 2)
during the validity period of the standards, a distinction is made between annual (quarterly) and operational-technical annual standards, which reflect the maximum consumption of material resources per unit of production (or work) on average per year, and also characterize the maximum consumption of raw materials and materials for specific conditions of the technological process and a given level of organization production; 3)
The scale of action of the norms for the consumption of material resources is divided into single and consolidated. Units reflect the consumption of materials for a specific unit of production, for example, the rate of consumption of non-ferrous metal for one passenger car of a certain model. Consolidated ones characterize the consumption of material resources for the same product (work) manufactured by various homogeneous enterprises in the industry; 4)
object of standardization, there are standards for the product and for the part (assembly). Standards for a product reflect the planned consumption of materials for the product as a whole, and standards for a part determine the consumption of materials for a part of a given product; 5)
nomenclatures of standardized materials distinguish between consumption rates for materials in a consolidated nomenclature and consumption rates in a detailed nomenclature. Consumption rates in the enlarged nomenclature are used to determine the enterprise’s annual need for material resources and work to save materials. Consumption rates in detailed nomenclature are necessary for the development of quarterly requests for materials and for meeting the workshop needs with specific profiles, grades, brands and sizes of materials.
Methods for rationing and planning working capital
The direct account method is based on the actual need for working capital.
The analytical method uses the actual amount of working capital for a certain period, taking into account adjustments for changes in production and supply conditions. It is most widely used in determining the need for working capital in the future.
With the experimental laboratory method, the working capital standard is established on the basis of experimental data and laboratory research. Most wide application it is found when rationing the consumption of auxiliary materials.
The reporting and statistical method uses reporting and statistical data for the reporting period to determine the working capital standard.
With the coefficient method, the working capital standard for the planned period is established using the standard of the previous period and taking into account changes in production volume, as well as the acceleration of working capital turnover.
Rationing of working capital in production inventories begins with determining the average daily consumption of raw materials, basic materials, purchased products and semi-finished products in the planned year (Table 6).
The average daily consumption of material resources (MHR) is calculated by dividing the sum of all planned annual expenses of raw materials, basic materials, purchased products and semi-finished products (5660 thousand rubles) by the number of working days in a year (250 days conditionally), i.e. MZsr = 5660: 250 = 22.6 thousand rubles.
The production inventory standard includes current, insurance, transport and technological reserves.
The current stock (TOR) is calculated to meet the production needs for material resources between two next deliveries; it is defined as the product of the average daily consumption (MD) by the planned delivery interval (/„)
TZ = MZsr1m.
Table 6
Calculation of average daily consumption of material resources Raw materials, basic materials and semi-finished products Price,
rub. Expenditures according to plan Total,
rub. Average daily consumption, thousand rubles. for production for other needs t thousand rubles. t thousand rub. Thick plate 80.0 20.0 1600 - - 1600 4.44 steel Beams and channels 100.0 6.0 600.0 10.0 1000.0 1600 4.44 Etc. Total 3800.0 1860 5660 15.7 Example. The average daily consumption is equal to MZsr = 12 thousand, the planned delivery interval is 1t = 14 days, the current stock will be T3 = 12 14 = 168 tons.
The current stock reaches its maximum value at the time of the next delivery. As it is used, it decreases and is completely consumed by the next scheduled delivery.
Safety stock (SA) is created when the planned supply of material is violated, i.e. in the case when the actual interval (1f) exceeds the planned one, which may lead to a stop in the production process due to lack of material resources. “The continuity of the process requires,” wrote K. Marx, “that the availability of the necessary conditions for it does not depend either on possible interruptions during daily purchases, or on the fact that the commercial product is sold daily or weekly”12. The safety stock is calculated as the product of the average daily material consumption (MZsr) by the gap in the delivery interval (1f-1t), divided by 2: C3= MZsr(1a - /m)0.5.
Actual delivery interval 1f = 16 days;
C3= 12(16-14)0.5= 12 t.
The occurrence of safety stock is due to a violation in the supply of materials by the supplier. If a violation in the delivery interval is associated with a transport organization, a transport stock (Tr3) is created, which is calculated similarly to the insurance stock.
Example. The actual delivery interval increased to 15 days as a result of a violation on the part of the transport organization.
Tr3 = MZsrif - /m)0.5 = 12(15 - 14)0.5 = 6 t.
To avoid excess inventories of material assets, insurance and transport stocks in the total volume (cost) should not exceed 20% of the current stock, i.e. SZ + Tr3 Technological stock is created in cases where the supplied material values do not meet the requirements of the technological process and undergo appropriate processing before being put into production. Technological stock (Tech3) is calculated as the product of the sum of stocks (TZ, SZ, Tr3) by the manufacturability coefficient of received materials, i.e.
TechZ = (TZ + SZ + TrZ) Ktech,
where Ktech is the processability coefficient of the material; is established by a commission consisting of representatives of suppliers and consumers.
Scope of delivery
L/3 = TZ + SZ + TZ + TZ.
post p ex
Delivery cost
TsPost = TsLMzpost-tehz),
where Tsn is the price of 1 ton of material resources.
The working capital standard for spare parts (34) is determined based on the actual expenditure per 1 thousand rubles. the cost of all equipment. For large unique equipment, the working capital standard for spare parts is calculated using the direct counting method for each part, taking into account its service life and price:
ZCHN0r = V"p "D" K- C/T,
where B is the number of mechanisms (equipment) of one type, pcs.;
n is the number of parts of the same name in each mechanism, pcs.; D - the norm of stock of parts, days;
K - reduction coefficient;
C - price of the part, rub.;
T - service life of the part.
The working capital ratio in work in progress (NPnor) reflects the cost of products at different stages of the production process - from launch into production to the release of finished products, i.e.
NPnor = ZsDtsKnz,
where Зс - average daily material costs;
Dts - duration of the production cycle in calendar days;
Kt is the cost increase coefficient, which is the ratio of the cost of a product in work in progress to its planned cost.
The duration of the production cycle is calculated as follows:
Dts = bttech + + 2X, + 5X,
where X Ttech is the total technological time spent on all technological operations according to the established mode;
^Tkon - total time for control operations;
^Te - total time for natural technological processes(drying, cooling);
The total time for intra-shop and inter-shop transportation of products throughout the entire production time until they are converted into finished products;
X Tper - the total time of breaks in the production process and between shifts, including absenteeism on weekends and holidays.
If costs are incurred evenly, the coefficient of their increase is calculated using the formula
Kzn = (Zp + 0.530) / 3,
where Zp is the initial daily costs of raw materials, basic materials, purchased products and semi-finished products;
30 - other costs;
3 - the sum of all costs, i.e. Salary + 30.
Example. The sum of all costs 3 = 100 thousand rubles, initial costs Salary = 60 thousand rubles, other costs are carried out evenly, production cycle duration DC = 8 days.
Kzn = 60 + 0.5(100 - 60): 100 = 0.8;
Zs = (100 - 60): 8 = 5 thousand rubles.
The standard for work in progress will be Nnp = 5 8 0.8 = 32 thousand rubles.
If one type of cost increases evenly, and others unevenly, then the cost increase coefficient is calculated using the formula
Kzn = / zdc,
where.3, 32, 3, are costs incurred at individual stages of the production process; ir B2, ..., B1 - time from the moment of equal costs to the end of the production cycle;
Zr - costs incurred evenly over
the entire production cycle.
Working capital for maintaining inventories of finished products is calculated as the product of the planned cost (C^) of the average daily output commercial products for the period from the beginning of its arrival at the warehouse until departure from the station (taking into account the time for processing transport and payment documents) - Dskl, i.e. OSrp = C11eCskl. The working capital ratio for deferred expenses is calculated as follows:
OS* = 3 + 3. - 3,
bp n bp s./i"
where Zn is the balance of expenses at the beginning of the planned year;
36p - deferred expenses incurred in the planned year;
Z/b1 is the part of expenses that is written off as cost in the planned year.
Future expenses are uneven in nature, and writing them off at the time of implementation is inappropriate, as this may lead to incomparability of products valued at cost.
Negative consequences current system rationing of working capital 1.
When calculating working capital standards in inventory inventories, the cost of stocks of individual materials in the warehouse and specific types of finished products is taken into account. In fact, the cost of a day's supply of materials and finished goods is not constant and may deviate significantly from planned value. Therefore, it must be taken into account that with a large range of materials, one part may be characterized by maximum reserves, the other - by minimum. If maximum inventories increase, excess inventories arise. 2.
It is necessary to pay attention to the fact that when rationing working capital for work in progress, the minimum inventory can be expressed in one day, and the maximum in a period reflecting the duration of the production cycle. 3.
When calculating the working capital standard for finished products, it should be taken into account that the cost of the stock of finished products in the warehouse largely depends on the conditions of shipment and its transportation. Thus, transport agencies transport finished products according to established standards for the capacity of transported goods.
Page 1
Standardized working capital is established in the State Plan. This includes funds for the creation of inventories, the cost of the remaining finished goods products sold, funds for advance payment of shipped products, the documents for which have not yet been transferred to the bank. Non-standardized funds include: funds invested in shipped products; accounts receivable (the amount of debts due to the enterprise); funds located in the current account of NGDU in the bank.
Standardized working capital are those that are necessary for the smooth operation of the enterprise. These include inventories, work in progress, deferred expenses and finished products in containers. Once the finished product starts moving, it turns into money.
Standardized working capital is the amount of their reserves, 6ei of which is unthinkable manufacturing process, is provided for in advance by the plan.
Standardized working capital is a necessary element of the production and economic activities of an industrial enterprise.
Standardized working capital is covered from own and equivalent working capital, and in in some cases- at the expense of advances from customers. Non-standardized working capital is covered by a loan from Stroybank.
Standardized working capital (in material terms) of an enterprise includes production inventories, work in progress, and balances of finished products in warehouses.
Standardized working capital consists mainly of inventories for production purposes. 4 2% of funds are in cash settlements and normalized monetary assets.
Standardized working capital makes up the bulk of working capital.
Standardized working capital is only part of the investment in working capital available to the association. The other part consists of non-standardized working capital, correct use which it provides big influence on financial position associations. Non-standardized own working capital is considered to be cash and receivables, funds intended purpose, costs for major renovation, excess depreciation amounts contributed to Stroybank.
Standardized working capital is money allocated to an enterprise to ensure coverage of planned norms of production inventories, work in progress and future expenses. Their size is set depending on necessary conditions ensuring a smooth production process.
Standardized working capital when calculating the actual total profitability is taken in the amount of their average annual amount on balance sheets.
Standardized working capital in enterprises and organizations Catering occupy more specific gravity compared to non-standardized ones. These include: goods and raw materials, cash, funds at procurement and agricultural enterprises and other assets.
Standardized working capital of contractors construction organizations depending on the sources of financing, they are divided into two groups: 1) covered by own sources and 2) covered by customer advances and bank loans. The first group includes: low-value and wearable items, auxiliary materials and fuel, supplies Agriculture, expenses of future reporting periods, work in progress for auxiliary and auxiliary productions not allocated to the industrial balance, debt of customers on submitted invoices for work performed, cash.
Standardized working capital includes: c) work in progress; d) finished products in the company's warehouse.
The operating funds include: (inventory + work in progress and expenses of working periods)
Homogeneous costing items include: (raw materials, materials, wages and accruals for it)
Fixed assets include (specify the most complete list): c) Computer Engineering, transmission devices, perennial plantings, capital investments in reclamation works, leased fixed assets, and environmental management facilities;
Indicators of the use of working capital include: a) the speed of turnover and the amount of fixed assets per 1 ruble of products sold; b) duration of turnover in days and turnover ratio; e) the number of revolutions in the period and the volume of products sold.
Indicators of OS use include: b) capital productivity, capital intensity, profitability;
Lost working time includes: a) absence from work for any reason; d) intra-shift losses.
Industrial inventories include: d) raw materials and materials, fuels and lubricants, goods and finished products, containers, spare parts, household equipment with a service life of less than 12 months, semi-finished products.
Methods of accelerated depreciation include: c) the reducing balance method, the method of writing off value by the sum of the numbers of years of useful life;
Conditionally fixed expenses include (administrative and commercial expenses)
Circulating funds include: b) finished products in the warehouse of the manufacturer, goods in transit, cash and settlements
How is the service life of equipment determined b) from the passport
Which of the following reasons is associated with employee turnover in an enterprise? c) voluntary migration of labor to areas with higher wages;
Which of the costing items are simple: a) fuel costs for technological purposes; b) costs of raw materials and materials; e) the basic salary of production workers.
Which of the components of the stock norm in days are used in rationing?
working capital located in production assets? c) safety stock; d) transport stock.
What indicators characterize personnel turnover in a company? Admission turnover intensity coefficient. Disposal turnover intensity coefficient.
Which elements of the listed elements of working capital are not standardized? c) accounts receivable; e) cash
Which of the following indicators characterizes the efficiency of using working capital? a) the number of turnovers of working capital during the year; b) level of use of working capital; c) duration of turnover;
Which statement is correct: Coverage contribution (this is the excess of revenue over variable costs for production and sales of products)
TO Which method of assessing operating assets allows for inflation? (replacement cost)
Which element of working capital is not standardized? c) accounts receivable;
Costing is a grouping of: (costs of production and sales by purpose and place of their occurrence)
Costing involves determining the cost (unit of production; commercial release products)
Are capital and non-recurring costs the same thing? a) yes;
Classification of expenses according to costing items is carried out for the purpose of: b) drawing up cost estimates;
When gross profit equals profit from common species activities? a) when the enterprise calculates the full cost;
When does gross profit equal profit from normal activities?
The number of outstanding preferred shares must be d) 25% of total number shares
The number of outstanding preferred shares should be no more than d) 25% of the total number of shares
Should commandiots take part in entrepreneurial activities? B) no.
Does a commercial organization have the goal of making a profit? a) yes
The commercial cost of production includes the costs of: a) production and sales of products (commercial expenses);
Loading...
