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Now we will show with an example how to carry out an express analysis of the balance sheet. So, the comparative analytical balance of our enterprise looks like this:

We begin the analysis, as mentioned above, by assessing the change in the value of the enterprise’s property. The figure 34.7% differs slightly from “33.3%” - accordingly, here the percentages can be replaced with fractions:

During the reporting period, the value of the enterprise's property increased by more than a third.

Now let's see what caused this increase. To do this, let’s evaluate changes in the totals of asset divisions. As we can see, both non-current and current assets increased - however, current assets increased by a much larger amount:

This happened due to an increase in both non-current (by 17%) and current (by 78%) assets of the enterprise.

Now it's time to evaluate the asset structure of the balance sheet. As we can see, non-current assets make up the majority (72% in 2006 and 62% in 2007), but during the reporting period the company switched from a conservative asset management policy to a moderate asset management policy. There is a fundamental change:

The share of current assets in the value of property increased during the reporting period from 28% to 38%, thus, the enterprise moved from a conservative asset management policy to a moderate asset management policy.

Now let's look at the liability of the organization and the changes that have occurred in it. Note that the share of short-term loans in the value of the property corresponds to a moderate liability management policy, and changes in this share can be neglected (the difference between 8% and 6% is less than the materiality threshold, which we will set here at 5%):

The structure of sources of property formation is characterized by a moderate liability management policy, and during the reporting period there were no significant changes in this policy.

Now let's look at the share of the liability sections of the balance sheet and note the most important change - a doubling of long-term liabilities:

The main factor that influenced the structure of liabilities is a significant increase in the share of long-term liabilities in it - from 42% to 63%, while the share of the enterprise's equity capital decreased from 42% to 31%.

Please note that we did not mention in the summary the share of the first and fifth sections of the balance sheet in the value of the property - we do not overload the summary with numbers. But at the same time, if desired, this share can be easily calculated from the data that we mentioned.

Now let's go “inside” the balance sheet sections. A quick look at the non-current assets of the enterprise allows us to say that they increased only due to fixed assets:

The non-current assets of the enterprise increased due to the line “Fixed assets”.

Much more serious changes have taken place within the “Current Assets” section. As we can see, reserves have seriously increased - 4 times. If we look at the structure of inventories, we will see that all components of this line have increased - raw materials, work in progress, and finished goods. Yes, they have increased to varying degrees - but within the framework of express analysis, this difference can be neglected so as not to burden the resume. Accounts receivable decreased by 20%, but cash increased very significantly - more than 4 times. As you can see, all three components have changed, but two of them have changed to a much greater extent than the third. This is where you need to separate significant changes from just “changes.”

The main goal of analyzing the structure of current assets is to compare it with the optimal one (65-30-5). At the beginning of the period we had too little inventory and too much receivables and cash; by the end of the period, despite all the changes, there was still little inventory, still a lot of receivables, and still a lot of cash. This is the case when very serious and significant changes did not fundamentally change anything:

The structure of the enterprise's working capital has undergone significant, but not fundamental changes. It is far from optimal and is characterized by insufficient inventory and an excessive share of receivables and cash. It should be noted that during the reporting period there was a significant increase in inventories (4 times) and cash flows of the enterprise (more than 4 times) and a slight decrease in accounts receivable (by 20%).

Now let’s get “inside” the liability sections of the enterprise. The enterprise's own capital in absolute value remained the same, however, due to the general increase in the value of the enterprise's property, its share decreased. This should be reflected in your resume. But its structure remained unchanged. The company's short-term liabilities decreased both in absolute and relative terms, and this happened due to the disappearance of the company's accounts payable:

The enterprise's own capital in absolute value remained the same, however, due to the general increase in the value of the enterprise's property, its share decreased. The company's short-term liabilities decreased due to the disappearance of the company's accounts payable.

Now let’s try to look for “similar” changes and make some hypotheses on their basis about the nature of changes in economic processes at the enterprise during the reporting period. So, we have an increase in the balance sheet currency by 165 million rubles. In assets, the most serious changes are +50 million for fixed assets, +60 million for inventories and +65 million for cash. Accounts receivable, on the contrary, gave us -20 million rubles.

There are fewer changes in liabilities, but they are more serious: +200 for long-term borrowings and -35 for accounts payable.

It seems obvious to us that changes in the enterprise began with the fact that it took out a long-term loan for 200 million rubles. Then we can put forward the following hypothesis: with this money, accounts payable were repaid (165 million rubles remained), new fixed assets were purchased (115 million rubles remained) and raw materials for production. The remaining amount settled in the company's current account, plus it was replenished with money received from debtors. Let’s formalize our hypothesis in the correct analytical language, not forgetting to make reservations about its non-one hundred percent probability:

Most likely, in the reporting period, the company increased its production base and output volume through a long-term loan, which also helped pay off creditors.

The time has come to organize our disparate findings into a single analytical summary. It is also worth adding to it our assessments of the changes that have occurred at the enterprise. Our final summary will look like this:

During the reporting period, the value of the enterprise's property increased by more than a third. This happened due to an increase in both non-current (by 17%) and current (by 78%) assets of the enterprise. This fact characterizes the enterprise as successfully developing.

The share of current assets in the value of property increased during the reporting period from 28% to 38%, thus, the company moved from a conservative asset management policy to a moderate asset management policy, increasing its mobility in the market.

The non-current assets of the enterprise have increased due to the line “Fixed assets”, therefore, the enterprise is expanding its production base.

The structure of the enterprise's working capital has undergone significant, but not fundamental changes. It is far from optimal and is characterized by insufficient inventory and an excessive share of receivables and cash. At the same time, it should be noted that during the reporting period there was a significant increase in inventories (4 times) and cash flows of the enterprise (more than 4 times) and a slight decrease in accounts receivable (by 20%). Thus, the enterprise may have seriously increased its production volume and improved its work with debtors, but it is not actively investing money in production, which most likely reduces the efficiency of its use.

The structure of sources of property formation is characterized by a moderate liability management policy, and during the reporting period there were no significant changes in this policy. The main factor that influenced the structure of liabilities is a significant increase in the share of long-term liabilities in it - from 42% to 63%, while the share of the enterprise’s own capital, which remained unchanged in absolute terms, decreased from 42% to 31%., which had a positive effect. on the financial stability of the enterprise, but increased its financial dependence. The company's short-term liabilities decreased due to the disappearance of the company's accounts payable, which had a positive effect on its solvency.

Most likely, in the reporting period, the company increased its production base and output volume through a long-term loan, which also helped pay off creditors. These facts can be assessed as generally positive, but the company should be recommended to invest more actively in production and reduce financial dependence on attracted capital.

It is worth noting that this summary is only the first in our textbook, and we warn readers against mindlessly copying it in their practice. In the future we will give many more examples of analytical summaries, and they will very often differ significantly from the above. There are no two identical resumes, since financial statement analysis is a creative science!

Analysis of the financial condition of an enterprise: 5 complete stages + practical example of analysis + 4 main indicators of the financial condition of the organization.

Managing a business is a big responsibility. In order to avoid mistakes in your activities, it is necessary to constantly analyze and correct the company’s financial indicators.

Today we will look at how to correctly conduct an express analysis of the financial condition of an enterprise.

A practical example will help resolve issues that may cause difficulties at various stages of the study.

General principles for analyzing the financial condition of an enterprise

Understanding the economic capabilities of an enterprise, its creditworthiness and investment potential are one of the main goals of the analysis.

The data obtained will help company managers make the right decisions in a timely manner.

Each organization has its own priorities in reporting analysis, but the general algorithm remains unchanged:

The list of main points for the procedure is shown in the table above.

At the discretion of accounting management positions, the calculation of the condition may not be carried out according to all parameters. Only sections where there are possible financial problems that need to be identified and resolved as quickly as possible are taken into circulation.

1) Measuring liquidity indicators in the analysis of the financial condition of an enterprise

Important components of the status analysis include the solvency of the company and its liquidity.

The term " solvency“implies the availability of financial security to cover unforeseen expenses by the company. Lenders primarily pay attention to this section.

Liquidity is a complex section that signals the possibility of repaying debts under any outcome, even with time delays.

An indicator of availability is the predominance of active funds over passive ones in the financial condition of the organization.

The liquidity system contains:

• liquidity ratio;
• indicator of organizational sustainability;
• the importance of business activity;
• efficiency of the organization.

The calculation of coefficients provides an opportunity to assess the state of competitiveness of enterprises that have the same focus in the field of work.

*Fig.1. Relative liquidity values

A more detailed analysis of the state will allow additional coefficients presented in Fig. 1.

The global situation in the solvency of the enterprise will show total liquidity coverage value(Ktl).

Intermediate values ​​of this indicator should be kept within 0.7-0.9, and for retail sales the permissible reduction limit is 0.5.

These parameters contain information about the company's current ability to repay.

The most demanding one is the absolute liquidity ratio. Its value should not fall below 0.3.

2) Calculation of the financial stability of the enterprise

When conducting a study of the economic indicators of an enterprise, one cannot ignore the state of financial stability organizations.

More details in Fig. 2:

*Figure 2 – Values ​​of the state of financial stability

Autonomy coefficient(Kavt) should always be located above 0.5. The trust of investment institutions and experts directly depends on the state of the current parameter.

The resulting characteristics for financial dependence (Kfz) and the ratio of borrowed funds to the amount of cash in the account (Ksas) range from 0.9 to 1.

• the inverse value of the autonomy parameter;
• from 1 subtract Kavt.

We will keep you updated on the amount of available funds at the moment maneuverability parameter(Kmss). The optimal value for it will be 0.5.

3) Calculation of business activity

It is most convenient to calculate resource productivity and cash turnover using the formulas in Fig. 3:

*Figure 3 – Values ​​for business activity

Depending on the industry in which your company operates, the total return (d1) may be abnormally low or high.

The fact is that heavy production with a large amount of resource waste will always show results lower than those of general consumption.

The turnover of cash resources is estimated:

Speed.

How many times the invested money will be returned to the investor during the analyzed period.

Period.

How long will it take for the money to make a full turn and return to the investor once?

The extent to which the monetary resource of your additional sources of financing has been exhausted will be determined by the characteristic - capital productivity (d2).

Unforeseen expenses may reduce the return on assets, but if resources are used to improve the technical base, the result may well pay for itself in the future.

4) Measuring enterprise profitability

To understand how profitable your company is, the analysis uses the concept of enterprise profitability.

*Rice. 4 – The importance of the organization’s profitability

All characteristics of this direction are calculated according to the same principle: the numerator is the value of profit, and the denominator is the cost of producing the product.

Higher profitability means better business.

Sometimes the value does not always provide 100% objective information. The reason for this may be long-term investment - the numbers are lower than the real state of the enterprise.

When 2-3 risky projects pay off, the value, on the contrary, increases, although in fact no significant changes have occurred in economic terms.

If you do not have a private business, but an open joint-stock company, then, in addition to standard accounting reporting, you should use information from the external market.

This will help you evaluate the profitability and development prospects of your business from an independent point of view.

Express analysis of the financial condition of an enterprise using an example

Let us have data on some limited liability company. Based on it, we will analyze the financial condition of the enterprise for a certain reporting period.

Stage 1: General characteristics of the enterprise.

Before starting to analyze the main indicators, the accountant should create a brief overview of the organization's activities.

Components of the general analysis:

• type of economic activity;
• composition of the management apparatus;
• production structure;
• basic services.

The information should fully reflect all the key points in the work. The introductory part should not be voluminous - display only the main thing.

Stage 2: Analysis of material condition.

These indicators reflect the amount of funds the enterprise has for business needs.

Their percentage in the organization's total bank for the current period.

Analysis is required both for personal purposes and for reporting to government agencies.

It makes it possible to track financial risks when conducting transactions at all stages of the operation of the enterprise.

Stage 3: Analysis of the financial situation.

Helps to identify unfavorable situations in business development.

Accurate calculations using elements of financial analysis make it possible to determine the possibility of bankruptcy with a 90% probability.

To fully carry out this procedure, accounting and tax reporting for the time period under study will be required.

Stage 4: Enterprise profitability.

It will help to analyze how efficiently the company conducts its activities.

Required to identify items to reduce financing and optimize the process of selling goods.

For your company to turn a profit, the items must cover all available expense items for the analyzed period.

Using the example, net profit indicates the high profitability of the organization.

Step 5: Finding weaknesses in financial statements.

The final step allows you to identify problems in the state of the enterprise in advance and close these gaps.

The final data from the express analysis will make it possible to focus on improving the situation in problem areas, if any.

Complete analysis of the financial condition of the enterprise As a result, it will allow you to find the strengths and weaknesses of your business.

How is the financial condition of an enterprise analyzed?

All stages of the process are in the following training video:

It will become easier to manage your free finances and decide on priority areas for the development of your enterprise.

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Express analysis of the financial statements of Ritual LLC presents the following main areas:

• - analysis of the balance sheet structure;
• - analysis of balance sheet dynamics for 2 years;
• - analysis of the dynamics of financial results.

An analysis of the structure of the balance sheet of Ritual LLC for 2013-2014 is presented in Table 1.

Table 1 Analysis of the structure of the balance sheet of Ritual LLC for 2013-2014

Over the past 2 years, the structure of assets of Ritual LLC has been dominated by non-current assets, their share in 2013 was 58.2%, in 2014 it decreased to 51.9%. In the structure of non-current assets, fixed assets make up a large share; their share in the total structure of assets in 2013 amounted to 54.3%, in 2014 it decreased to 48.5% due to increased wear and tear of equipment. The share of profitable financial investments in 2013 was 3.9%, in 2014 it decreased to 3.4%. The share of current assets in the balance sheet structure has increased over the past year. In 2013 it was 41.8%, in 2014 it increased to 48.1%. In the structure of current assets, the main part is made up of inventories; their share in the total number of assets was 32.8% in 2013, in 2014 it decreased to 23.1%. This decrease was due to an increase in the share of accounts receivable by 4.3% and the share of cash and equivalents by 11.7%.

In the structure of liabilities of Ritual LLC for 2 years, capital prevails, the dynamics of the share is positive. In 2013, the share of capital and reserves was 75.7%, in 2014 it increased to 81.8%. The increase in the share of capital and reserves in the balance sheet currency occurred due to an increase in the share of retained earnings, which in 2013 amounted to 1% of all liabilities, in 2014 it increased to 14.1%. There are no long-term liabilities in the liability structure. The share of short-term liabilities in 2013 was 24.3%, in 2014 it decreased to 18.2%. The decrease was due to a drop in the level of borrowed external short-term liabilities by 6.1%.

An analysis of the dynamics of the balance sheet of Ritual LLC for 2013-2014 is presented in Table 2.

Table 2 Analysis of the dynamics of the balance sheet of Ritual LLC for 2013-2014

The balance sheet currency in the reporting period increased by 11.1%. In terms of assets, this growth occurred in the section of current assets, the value of which increased by 27.7% compared to 2013. This was due to an increase in accounts receivable by 73.5% compared to the previous year and an increase in cash (an increase of more than 10 times). The value of non-current assets decreased by 9 thousand rubles compared to the previous year. (0.9%) due to a decrease in the cost of fixed assets. The cost of profitable investments did not change in the reporting year.

The increase in liabilities was due to an increase in capital and reserves by 20% compared to the previous year. This was due to an increase in retained earnings by RUB 257 thousand. (more than 15 times). The cost of short-term liabilities decreased by 72 thousand rubles. (16.9%) compared to 2013 due to a decrease in borrowed funds for urgent repayment.

Thus, the balance sheet structure of Ritual LLC at the end of 2014 is optimal in terms of liquidity and balance. The balance sheet dynamics over the past year have been positive.

An analysis of the dynamics of financial results of Ritual LLC for 2013-2014 is presented in Table 3.

Table 3 Analysis of the dynamics of financial results of Ritual LLC for 2013-2014

The report on financial results of Ritual LLC does not take into account income tax, since the organization is a single tax payer on imputed income. Over the past year, the company's revenue has had a negative trend - in 2014 it decreased by 9.4% (377 thousand rubles) compared to the previous year. However, the reduction in cost has a higher value - in 2014 it amounted to 15.4% (634 thousand rubles). This indicates a policy of reducing current costs. The income statement does not contain commercial and administrative expenses, which, according to the enterprise's accounting policy, are distributed among production expenses.

In addition, in 2013-2014 the company had no other income and expenses. Thus, the values ​​of gross profit, sales profit, taxable and net profit are equal. In 2013, the net profit amounted to 18 thousand rubles, in 2014 it increased to 275 thousand rubles. (more than 15 times).

Data from the financial results report show that the company needs to improve its sales policy to increase sales of its services.

Express analysis of financial statements This is a financial analysis for which the usual balance sheet and income statement are sufficient.

Despite the apparent limitations of the initial data, it is possible to draw conclusions about the structure of the balance sheet of the company’s financial stability and solvency, the presence or absence of free cash, the cash flow management policy and, thus, the solvency and stage of the investment cycle.

the main objective express analysis, which is one of the types of financial analysis, is a clear and simple assessment of the property status and efficiency of development of a business entity.

Express analysis of financial statements makes it possible to get a general idea of ​​the financial position of the organization in one or two days. Its convenience lies in the simplicity of the analysis information base. Two main forms (balance sheet and profit and loss statement) are, firstly, standard and, secondly, mandatory for submission to the tax office and statistical authorities.

Carrying out an express analysis of accounting (financial) statements, the user decides mainly the task of detecting “painful” points of the company's activities in order to determine the areas of in-depth analysis.

In this sense, express analysis can be carried out with the minimum necessary calculations and the use of various techniques and technologies, which may be different for each user. For express analysis, the following main indicators characterizing the financial condition of the enterprise can be selected:

1. Assessment of property status: The amount of the organization's economic assets; Share of fixed assets in total assets; Depreciation rate of fixed assets.

2. Assessment of financial condition: Current solvency and liquidity ratio; Absolute liquidity ratio; Autonomy coefficient; Provision ratio of own working capital.

3. Business activity assessment: Turnover of all assets used; Accounts receivable turnover; Capital productivity.

4. Profitability assessment: Return on all assets; Sales profitability; Profitability of current costs.

5. Presence of “painful” items in reporting: Damages; Overdue receivables and payables; Credits and loans not repaid on time; Bills issued (received) are overdue.

Express analysis of financial statements is carried out by the user according to the financial statements without preliminary transformation of its indicators or with preliminary transformation of reporting indicators. The transformation of accounting (financial) reporting indicators can be carried out by regrouping homogeneous indicators, i.e. aggregation of balance sheet items.

And so, first of all, when conducting an express analysis of the financial condition, it is necessary to identify problematic items on the company’s balance sheet, review reporting items, compare data from the current period with the past and identify problematic items. It is necessary to identify and evaluate the dynamics of problematic balance sheet items of two types:

1. Talking about the extremely unsatisfactory performance of the company in the reporting period and the resulting poor financial position (uncovered losses, overdue loans and accounts payable, etc.).

2. Evidence of certain shortcomings in the work of the organization, which, if they are regularly repeated in the reporting of several adjacent periods, can significantly affect the financial position of the company (overdue accounts receivable, debt written off to financial results, fines, penalties, penalties collected from the organization, negative net cash flow, etc.).

Eg : Accounts receivable. If the increase in the indicator was due to an increase in accounts receivable, this indicates an unsatisfactory customer service policy, but subject to revenue growth, it may mean a change in credit policy aimed at stimulating sales.

Balance sheet data allows a preliminary assessment of the company's solvency, which can be called the company's "margin of safety" in terms of solvency: Solvency = cost of working capital - short-term liabilities.

Now it is necessary carry out vertical and horizontal analysis. When analyzing the income statement vertically and horizontally, it is necessary to trace relationship between revenue and cost dynamics. Unidirectional growth or decline in indicators should not cause concern to the analyst, but if there is a decrease in revenue volumes along with rising expenses, this indicates only one thing: the company may have serious problems with business performance in the near future.

The next step is analysis balance sheet liquidity . At this stage, it is necessary to answer the question: Does the company have sufficient assets to cover the company's liabilities.

Of interest when performing express analysis are the coefficients characterizing business activity companies. Analysis of indicators should show the effectiveness of the company's managers, both with suppliers and clients. The business activity of an enterprise in the financial aspect is manifested, first of all, in the speed of turnover of its funds.

It may not be superfluous to calculate financial stability coefficient , which characterizes the share of equity in the balance sheet currency. And if you have debt on loans and borrowings, it makes sense to calculate the interest coverage ratio.

Finally counting profitability indicators , it is enough to determine the total and net profitability of the company. However, we should not forget that there are no standard values ​​for this indicator, and it is strictly individual for each sector of the economy. In an economic crisis, if the indicator is positive, this is already good, but if it is higher than the Central Bank refinancing rate, the situation can be described as normal.

E.A- identification of interconnectedness and interdependence between various indicators of financial and economic activity, inclusion in the final reporting. (Form 1,2,3,4,5.)

Purpose E.A.: a clear and simple assessment of the financial situation and dynamics of development of the enterprise.

Finnish users reporting:

1. external:

a) directly interested:

Existing and potential creditors;

Suppliers and buyers;

Existing and potential owners of funds

Government and tax authorities

b) not directly interested (reporting is needed to protect the interests of 1 group):

Audit services;

Financial consultants;

Securities exchanges;

Press and information agencies;

State statistics bodies.

Prof. unions

2. internal: – senior management,

Managers of the corresponding levels.

There are users for whom reporting is mandatory - cash. bodies, government Statisticians, audit organizations.

Main reporting criteria: transparency, reliability, information content.

Reading reports Studying financial and operational indicators

Allows conclusions to be drawn about sources based on the selection of a small number

raised funds of the enterprise, the most significant indicators and constant

directions of their investments and determine their tracking over time

nature of enterprise development

Main directions (content of E.A.):

1. Accounting analysis. balance (form 1):

Assessment of the structure of assets and their sources;

An-z of balance sheet liquidity;

An-z solvency;

An-z probability of bankruptcy;

An-z of financial stability;

Classification of financial status according to the consolidated criteria for assessing accounting. balance.

2. Analysis of the profit and loss statement (form 2):

Analysis of the level and dynamics of financial resources;

An-z influence of factors on profit;

Factorial analysis of profitability;

Analysis of the dynamics of business activity indicators and the financial cycle (calculation of turnover);

3. Analysis of applications to accounting. balance (form 3, 4, 5):

Assessment of the composition and movement of equity capital (form 3);

An-z cash flows (form 4);

An-z movements of borrowed funds;

An-z receivables and payables;

An-z of depreciation property;

An-z movement of financing, long-term investments and financial investments

E.A. It is advisable to carry out in 4 stages:

1. Preparatory - the reporting is checked according to formal characteristics (visual): the presence of details, signatures, the linking of indicators, fixed assets is considered.

2. Preliminary review of accounts. reporting and balance sheet reading.

“Read” the balance based on studying its main features:

• the balance sheet currency at the end of the reporting period should increase compared to the beginning
• the growth rate of current assets must be higher than the growth rate of non-current assets
• equity capital must exceed borrowed capital and its growth rate must be higher. What is the rate of growth of debt
• growth rates of receivables and payables d.b. approximately the same
• share of own funds in current assets d.b. more than 10%
• there should be no “sick” items in the balance sheet (uncovered loss)

3. Acquaintance with the explanatory note in the account. statements or with the annual report.

Brief description of the enterprise;

Key performance indicators;

Factors that influenced the financial result;

Analytical indicators for fixed assets, intangible assets, financial investments and profitability indicators;

Assessment of financial stability and solvency for the short and long term;

Business activity assessment

3.Economic reading and analysis of the report. Economic reading is a generalized assessment of the results of economic activities and financial status.

Fin. the condition is considered in:

Short term - solvency, liquidity.

Long term:

Assessment of the structure of sources of funds (financial risk coefficient). Satisfactory source of funds (3K/SK<1, где СК- собственные ср-ва),

An indicator of the relative independence of the enterprise from creditors and external investors (financial stability coefficient) (SC/EB>0.5).

Under the liquidity of any asset its ability to transform into monetary resources is understood. The degree of liquidity is determined by the length of the time period during which this transformation can be determined.

Balance sheet liquidity– is defined as the degree to which an organization’s obligations are covered by its assets, the period of transformation of which into money corresponds to the period of repayment of obligations.