Faculty of economy
Speciality: Economy of enterprise
The innovative oriented development of enterprises is pre-condition of the economy growing of any modern country. This circumstance requires the investment providing and state stimulation of timely update of the threadbare fixed assets on enterprises. Volumes and availability of traditional sources of refunding, such as the personal funds, budgetary financing, bank credits, dissatisfy the investment requirements of industrial enterprises in realization of large-scale update of the fixed assets. Therefore an important task is become by the improvement of the use of both traditional and untraditional sources and forms of financing of reproductive processes in industry.
The purpose of master's degree work is generalization and development of theoretical and methodological bases, and also development of practical recommendations in relation to optimization of processes of realization of capital investments in the update of capital assets on industrial enterprises.
Section 1. Development of theoretical bases of investing in basic assets.
Capital assets are basis of process of production on any enterprise: capital assets accept direct participation in the process of converting of the article of labour in the products, serve for creation of normal conditions of realization of production process, and also storage and move of material assets. Consequently, absence of capital assets does impossible the production of goods.
Section 2. To recommendation on the increase of efficiency of reproductive processes in Ukraine.
The important factor of activation of investment activity in the update of the fixed assets is liberalization of their depreciation and tax policy.
In world practice, the main role in the process of updating the equipment belongs to depreciation. It is explains advantage of depreciation deductions by comparison to other sources of investments: at any financial condition of the company depreciation deductions has always remain in his possession.
Depreciation policy, which is held today in Ukraine, is imperfect, as evidenced by a trend towards an increase in the degree of wear of fixed assets.
Based on the analysis and synthesis described in the economic literature theoretical perspectives on the process of reproduction of fixed assets, found that these issues require in-depth study and clarification in accordance with the requirements of a market economy. It was found that the current process of renewal of fixed assets has a negative growth rate. This reduced the effectiveness of its use. It is shown that in industrial enterprises must create a mechanism that will ensure optimal use of external and internal sources of funding for renewal of fixed capital.
Analysis of internal sources of funding for the replacement of fixed capital has proved that the main sources are the depreciation charges and profits. This necessitates the liberalization of state tax policy.