Abstract
Content
- introduction
- 1. Ponyatie and classification of current assets
- 2. Analysis of the current assets
- 3. Politika current assets management
- Conclusion
- References
introduction
Relevance of the research topic.
In today's competitive market of effective management of these basic economic processes as the formation and use of working capital in the operational activities contributes to solving a number of issues of strategic development of the company and enhances the effectiveness of the results of economic activity. The majority of domestic enterprises can not withstand the fierce competition, do not reach the high level of profitability due to the lack of working capital, slow motion flow of working capital, so the problem of assessing the level of availability of working capital, the choice of sources of financing, determine the effectiveness of the use and quality of planning it is highly relevant .
Analysis of recent research and publications.
The problem of studying the theoretical features of working capital management, including the definition of working capital is considered in the work of such scientists and economists as Bormotova MV Bocharov VV, Brigham EF, Gerchikova I. Goncharov A . B. Grinyova VM, Ovsiychuk MF Pavlova LN, Podderyogin AM, Polyak GB, Stoyanov A. and others.
The purpose and objectives of the study.
The purpose of the master's work - further development of the theoretical foundations and the development of teaching methods of recommendations to improve the current assets of the enterprise.
To achieve this goal in the master's work and solved a set of theoretical, scientific, methodological and practical problems:
1. Clarified the nature and specific features of the current assets of enterprises based on the analysis of the points of view of scientists.
2. The influence of external and internal factors on the formation of circulating assets of enterprises.
3. Examined current assets management model of enterprises in general, and their components, specify their conditions of use.
4. The recommendations on the use of mathematical modeling techniques to improve working capital management in modern conditions.
The object of research
current assets are the management processes of the enterprise in modern conditions.
Subject of study
scientific and methodical bases of formation and use of circulating assets of the enterprise
1.Ponyatie and classification of current assets
Current assets represents the most extensive part of the short-term financial policy of the company, since it is the current assets provide solvency and targeted financial results of the company. The complexity of these asset management associated with the large number of elements and their permanent transformation kinds thereof.
As is known, current assets - one of the most important financial categories - are advanced in cash costs for education and the use of current production facilities and handling funds in the minimum size required to ensure the implementation of the production program and the timely implementation of the calculations. The information base for the analysis and management of working capital are the forms of accounting and financial reporting, which is reflected in the valuation of tangible incarnation of working capital - current assets. In other words, current assets - is a natural form of expression of the essence of working capital [5].
Current assets of the company can be classified in many classification criteria, the main ones are the following::
1. The shape of the functioning of current assets:
- tangible assets, ie assets that have real material form:
- financial assets that characterize the various financial instruments owned by the company or in its possession:
2. By type of current assets:
- stocks of raw materials and semifinished products. This type of current assets characterizes the volume of incoming material flows in the form of stocks, ensuring the production activities of the enterprise;
- stocks of finished products. This type of current assets characterizes the volume of outgoing material flows in the form of stocks of manufactured products intended for implementation.
- accounts receivable, which characterizes the amount of debt in favor of the company, presentation of financial obligations on payments for goods, services, advances, etc .;
- cash. In foreign practice of financial management These include not only the cash balances in all its forms, but also the amount of short-term investments, which are considered as a form of investment use of temporarily free cash balance. Forms of Russian financial statements the amount of short-term and long-term financial investments are allocated in an independent kind of company assets;
- Other types of current assets - it is other types of assets recorded in the second section of the balance of the asset (prepaid expenses, VAT, etc. produced.).
3. Sources of formation of circulating assets.
4. According to the degree of liquidity of current assets.
5. For the period of functioning of the current assets [3].
2. Analysis of the current assets
Current (current mobile) assets are shown in the second section of the assetthe balance. Their analysis should begin with groups of such assets by their degree of liquidity, ie feasibility. must be allocated in the following groups for certain types of current assets:
- most marketable assets with minimal risk in terms of their liquidity. These include cash and marketable (quick-) short-termsecurities;
- marketable assets with low risk. These include:receivablesorganizations with a strong financial condition, material resources, supplies (except for the stale, long time not used in production), as well as finished products of mass consumption, best-selling;
- current assets, having an average degree of marketability, or high risk. This could be considered a work in progress, prepaid expenses, as well as finished products for industrial purposes;
- illiquid (illiquid) current assets with a high degree of risk in their implementation. This group includes receivables of organizations that have an unstable financial condition, stale inventories of resources, stocks of finished products are not in demand buyers [4].
When analyzing the need to assess the dynamics of the ratio of illiquid assets and the total amount of current assets as well as difficult to be realized and marketable current assets. If these ratios are increased, this indicates a decline in liquidity, ie The more money invested in current assets that are in the high risk group, the lower the liquidity of the organization.
In the analysis of the two methods are applied - direct and indirect. In the direct method is determined inflow and outflow means; wherein the original element is revenue from sales. With the indirect method the starting element is a gain that is adjusted in relation to the movement of funds.
The direct method makes it possible to characterize the liquidity of the company, as it depicts in detail the movement of funds on its accounts. However, this method does not show the relationship between the received financial result (profit) and changing the amounts of money. Indirect same method of analysis enables us to explain the causes of discrepancies between the profit obtained over a given period and the amount of funds. The organization may also have items of income and expense that affect profit, but do not change the amount of cash. In the analysis of the value of these revenues and expenses adjusted net profit of the organization[1].
3.Политика управления оборотными активами
current assets management - is System eventsaimed at improving the economic status of organizations and enterprises through the use of working capital (property and capital,circulation period is less than 12 months).
In the development of management strategies working capital reveal affect the structure of assets of the factors analyzed by the need of the enterprise in every kind of assets and give a preliminary assessment of the effectiveness of the existing volume of current assets. From largely implemented current assets management policy depends on the basic conditions of enterprise interactions with contractors, suppliers and other contractors. The effectiveness of this policy depends largely on the insurance reserves of the company or organization [6].
management policy of working capital is a part of the overall financial strategy of the enterprise, is to form the desired amount and composition of working capital, implementation and optimization of the structure of their financing sources.[1].
Conclusion
The main purpose of the enterprise asset management is to maximize profits for a reasonable distribution of funds investor. The assets themselves are divided into negotiable and non-negotiable, method of management differ significantly.
Asset management process includes the following tasks:
- The use of cash for the most effective way the investor;
- Management of current assets in the form of stocks of raw materials for production, as well as remnants of enterprise products;
- Regulation analyst debt management process and monitoring of a company's liquidity.
fixed assets management - even more complex process, as it relates to long-term investments in a particular industry. As investment objects can act even unfinished construction sites, not including material assets and cash.
Because asset management companies - a risky, albeit profitable business, potential investors should be aware of the difficulties he may encounter in the process.
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