Stages of analysis of the financial results of the enterprise. Analysis of the quality of profit and factors used to predict financial results

INTRODUCTION 3

Chapter 1 . Theoretical aspects of the basis of the analysis of the financial results of the enterprise 6

1.1. Methodology and significance of the analysis of the financial results of the enterprise 6

1.2. Tasks and information sources for the analysis of the financial results of the enterprise 8

1.3. Stages of analysis of financial results 12

Chapter 2. Accounting for the financial results of the enterprise 19

2.1. Accounting for income and expenses from ordinary activities 19

2.2. Accounting for other income and expenses of the organization 29

2.3. Accounting for the final financial result 37

2.4. Profit use accounting 40

Chapter 3. Analysis of financial results in activities enterprises (on the example of OJSC "Tekmash") 49

3.1. Organizational and economic characteristics of the enterprise 49

3.2. Factor analysis of the dynamics of changes in the structure of the formation of financial results and analysis of profit from the financial and economic activities of the enterprise 50

3.3. Factor analysis of profit from product sales,

goods (works and services) 52

3.4. Analysis of the factors of formation and distribution of general accounting and taxable profit 56

3.5. Proposals to improve the accounting and analysis of financial results at OJSC Tekmash 60

CONCLUSION 62

ANNEXES 71

INTRODUCTION

In market conditions, each economic entity acts as a separate commodity producer, which is economically and legally independent in choosing a business area, forming a product range, prices, determining costs, accounting for sales proceeds, and, consequently, in identifying a financial result - profit or loss. Financial performance evaluation is part of financial analysis. It is characterized by a certain set of indicators reflected in the balance sheet as of a certain date. The financial result characterizes in the very general view changes in the allocation of funds and, the sources of their coverage. Profit reflects a positive financial result. Profit growth creates a financial basis for self-financing, expanded reproduction, solving problems of the social and material nature of the enterprise. At the expense of profit, external financial obligations to the budget, banks, extra-budgetary funds and other organizations are fulfilled. It characterizes the degree of business activity and financial well-being. Profit determines the level of return of advanced funds in the return on investments and assets. In market conditions, a business entity strives, if not for maximum profit, then for such a value of profit that will ensure the dynamic development of production in a competitive environment, will allow it to maintain its position in the market for a given product, and ensure its survival. Losses as a result of activities show errors, miscalculations in the directions of the use of funds, put an economic entity in a critical financial situation, which does not exclude bankruptcy.

The main purpose of the analysis of the financial result is that, based on an objective assessment of the use financial resources identify on-farm reserves to strengthen the financial position of the enterprise.

To identify the financial result, it is necessary to organize the accounting of income and expenses that form it. All this determines the relevance of the chosen research topic.

The degree of elaboration of the problem. Currently, in economic research, various methods and developments are used, dedicated to the accounting, analysis and audit of the financial results of the organization. The works of this direction include the development of such economists as A.F. Aksenenko, I.A. Basmanov, P.S. Bezrukikh, A.A. Dodonov, M.Kh. Zhebrak, V.B. Ivashkevich, N.P. Kondrakov, E.G. Lieberman, A. Sh. Margulis, V.F. Paliy, V.I. Petrova, A.D. Sheremet and others. Their work is related to the accounting of costs, income analysis, as well as control over the financial results of the enterprise.

All these works are of great theoretical and practical importance and are the foundation for the creation of a financial results management system that will improve the economic efficiency of industrial enterprises. However, an integrated approach to managing profit as the final financial result has not yet been sufficiently developed in modern economic literature. The main research area is dedicated to improving integrated approach to the problem under consideration, which is accounting and analysis.

The aim of the thesis is to consider the accounting mechanism for the formation of the financial result, which provides analytical procedures for identifying the reserves for profit growth in the enterprise.

Achieving this goal involves solving the following tasks:

· To disclose the methodological aspects of the accounting policy of the enterprise for the formation of the financial result from the sale of products, from other sales and the final financial result;

· To assess the dynamics of absolute and relative indicators of financial results (profit and profitability);

Conduct a factor analysis of profits from product sales
and the final financial result;

· To determine the possible reserves of growth of profits and profitability at the investigated enterprise and calculate their economic effect.

The object of the research is OJSC "Tekmash".

The subject of the research is the financial results management mechanism, which includes accounting and analysis.

The theoretical and methodological basis of the study was the works of domestic and foreign scientists on economic theory, enterprise economics, accounting, analysis of financial and economic activities. When considering the subject area of ​​the research, we used the regulatory and legal acts of the Russian Federation, regulating the processes under study, statistical materials and materials from periodicals. In the course of the research, we used the following scientific methods, as analysis and synthesis, identification of cause - effect relationships, economic and mathematical methods.

The degree of elaboration of the problem. Currently, economic research uses various methods and developments dedicated to accounting, analysis and cost management in the enterprise.

The practical significance of the study. The study of an integrated approach to the management of financial results through accounting and analysis showed the need for further improvement of the accounting mechanism, analytical procedures at the enterprise. The proposed approach makes it possible to increase the efficiency of the system of accounting and analysis of financial results at the enterprise.

The presented work consists of a table of contents, an introduction, three chapters, a conclusion, a bibliography and an appendix.

CHAPTER 1. THEORETICAL ASPECTS OF THE BASIS OF ANALYSIS OF FINANCIAL RESULTS OF THE ENTERPRISE

1.1. Methodology and significance of the analysis of the financial results of the enterprise

Each enterprise has its own goals and objectives, recommendations that are acceptable for managing one enterprise may be harmful or useless for another. Therefore, each enterprise, in accordance with the specifics of its activities, has the right to choose those accounting options that will ensure the most complete implementation of the functions of management, control and analysis, in order to implement in practice the main goal of any enterprise - effective functioning.

The value of analyzing the financial results of an enterprise has a huge role in strengthening its financial condition. It is known that without making a profit, an enterprise cannot develop, therefore, the task of improving the financial result is vital for an economic entity. The main purpose of the analysis of financial results is to timely identify and eliminate shortcomings in financial activities organization and find reserves for improving the financial condition of the enterprise and its solvency, development and adoption of reasonable management decisions aimed at improving the efficiency of the business entity.

The results of the financial analysis make it possible to identify vulnerabilities that require special attention and develop measures to eliminate them.

The method of financial analysis is understood as a way of approaching the study of economic processes in their formation and development.

TO characteristic features methods include: using a system of indicators, identifying and changing the relationship between them.

In the process of financial analysis, a number of special methods and techniques are used. The ways of using financial analysis can be roughly divided into two groups: traditional and mathematical.

The first group includes: the use of absolute, relative and average values; reception of comparison, summary and grouping, reception of chain substitutions. The method of comparison consists in drawing up the financial indicators of the reporting period with their planned values ​​and with the indicators of the previous period. Reception of summary and grouping consists in combining information materials into analytical tables. Reception of chain substitutions is used to calculate the magnitude of the influence of factors in the general complex of their impact on the level of the aggregate financial indicator. The essence of the methods of chain substitutions is that, successively replacing each reporting indicator with the basic one, all other indicators are considered as unchanged. This replacement allows you to determine the degree of influence of each factor on the aggregate financial indicator. In practice, the selected methods of analysis of financial statements are: horizontal analysis, vertical analysis, trend, method financial ratios, comparative analysis, factor analysis.

Horizontal analysis - comparison of each position with the previous year. Vertical analysis - determination of the structure of the final financial indicators with the identification of the influence of each reporting item on the result as a whole.

Trend analysis - comparing each reporting item with a number of previous periods and determining the trend. With the help of a trend, possible values ​​of indicators in the future are formed, and, therefore, a forward-looking analysis is carried out.

Analysis of relative indicators - calculating the relationship between individual report items or items of different reporting forms, determining the relationship of indicators.

Comparative analysis is also an on-farm analysis of the aggregate indicators of departments, workshops, subsidiaries etc., and inter-farm analysis of the enterprise in comparison with the data of competitors, with the average general economic data.

Factor analysis - analysis of the influence and individual factors on the effective indicator using deterministic and stochastic research methods. Factor analysis can be either direct or reverse, i.e. synthesis-combination of individual elements into a common effective indicator. Many mathematical methods: correlation analysis, regression analysis, and others, entered the circle of analytical developments much later.

Methods of Economic Cybernetics and Optimal Programming, economic methods, the methods of operations research and the theory of decision-making, of course, can find direct application in the framework of financial analysis.

1.2. Tasks and information sources of financial analysis

enterprise results

Financial results are a set of indicators reflecting the availability, placement and use of financial resources. Since, the purpose of the analysis is not only and not so much to establish and assess the financial condition of the enterprise, but also to constantly carry out work aimed at improving it. Analysis of financial results shows in which specific areas it is necessary to work, makes it possible to identify the most important aspects and most weak positions in the financial condition of the enterprise. The assessment of financial results can be performed with varying degrees of detail, depending on the purpose of the analysis, available information, software, hardware and staffing.

Financial analysis makes it possible to assess:

· Property status of the enterprise;

· The degree of entrepreneurial risk;

· Capital adequacy for current activities and long-term investments;

· The need for additional sources of funding;

· Ability to build up;

· The rationality of attracting borrowed funds;

· The validity of the policy of distribution and use of profits.

In this case, it is necessary to solve the following tasks:

· Based on the study of the causal relationship between different indicators of production, commercial and financial activities to assess the implementation of the plan, according to the receipt of financial resources and their use from the position of improving the financial condition of the enterprise;

· Forecasting possible financial results, economic profitability based on the real conditions of economic activity and the availability of own and borrowed resources;

· Development of models of financial condition with a variety of options for the use of resources;

· Development of specific measures aimed at more efficient use of financial resources and strengthening the financial condition of the enterprise.

Financial performance analysis is the process by which we assess the past and present financial position and performance of an organization. However, the main goal is to assess the financial and economic activities of our organization in relation to the future conditions of existence.

Accounting (financial) statements are the information base for financial analysis. The basis information support analysis of financial results should draw up financial statements that are uniform for organizations of all industries and forms of ownership. It consists of the forms of financial statements approved by the Order of the Ministry of Finance of the Russian Federation dated July 22, 2003 No. 67n "On the forms of financial statements of organizations."

From the forms of financial statements use:

· Balance sheet, form No. 1, which reflects retained earnings or uncovered loss of the reporting and previous periods (section III of the liability);

· Profit and loss statement, form No. 2, is compiled for the year and for intra-annual periods, which is the main source of information on the formation and use of profit, which shows the items that form the financial result from all types of activities;

· The annual report on changes in capital, form No. 3, reflects the state and changes in the reserve fund, information on retained earnings of previous years by composition, on the social sector fund, targeted financing and receipts, reserves for future expenses, estimated reserves;

· Help 4 reflects various sources of capital increase in individual items;

· Cash flow statement, form No. 4, which contains data on cash receipts from various sources, as well as information on spending cash;

· Appendix to the annual balance sheet, form No. 5, in the reference to section 3 contains information on the amount of depreciation of non-current assets for each type at the beginning and end of the reporting year, and the result of indexation due to the revaluation of these assets.

Financial analysis is carried out in different ways, depending on the task at hand. It can be used to identify business management problems. It can serve to assess the performance of the organization's management. It can be used to select areas for capital investment. And, finally, it can act as a forecasting tool for individual indicators and financial performance of the organization as a whole.

However, in all cases, for the disclosure of the content of information, it is of great importance to conduct a preliminary analysis of the reporting forms, i.e. transformation of the submitted reporting into analytical.

This process includes the following:

· Checking the materiality of the main items of the balance sheet, income statement;

· Drawing up a consolidated balance sheet and a profit and loss statement, where there are only significant items that need to be analyzed and which have a real impact on the adoption of financial decisions;

· Detailing of unjustifiably aggregated items, for which data from the explanations and additions to the reporting are used;

· Drawing up dynamic balances and profit and loss statements that allow you to identify trends in changes in financial results;

· Introduction of benchmark data for comparison with reporting indicators, which can be the standard level of indicators, industry average indicators or achievements of the best enterprises.

This is a preliminary analytical processing reporting, which precedes in-depth analysis and calculation of financial ratios.

1.3. Stages of analysis of financial results

In the course of the analysis, it turns out whether the company managed to get the planned profit, for what reasons, if such is fixed, the fulfillment of profit plans is not ensured; who is to blame - poor planning or poor performance.

Profit analysis is carried out in several stages.

At the first stage, the analysis of the dynamics of profit as a whole for the enterprise and its divisions is carried out by identifying the trend in the change in the mass of profit for the period under study. For these purposes, the rates (basic and chain) of growth (decrease) of the analyzed indicators are calculated and compared with the dynamics of similar indicators of competitors and with the average annual rate of return on invested capital.

At the second stage, the influence of factors on profit is assessed:

a) the change in the volume of trade in current prices is calculated by the formula:

where: АПаq - change in profit due to changes in the size of turnover;

Qп and Qб - the volume of trade in the reporting and base (planned) periods, million rubles;

Ртб - profitability of sales for the previous (planned) period;

b) the change in the volume of sales in comparable prices (physical volume of goods turnover) is calculated by the formula:

where: CQ - comparable turnover;

c) to measure the impact of the prices of goods sold on profit, you can use the following formula:

where: FT is the physical mass of goods;

Iп - price index of the reporting period in comparison with the base one.

The general influence of factors of the physical mass of goods and changes in prices should give the result of changes in profits due to changes in the volume of sales in current prices:

d) the impact of changes in the level of gross income on profit is determined as follows:

where: УВДф - actual (expected) level of gross income in the current year (period);

УВДб - the level of gross income in the base period;

Qf - the volume of the actual turnover;

e) an estimate of the influence of distribution costs on profit can be measured using the following equation:

where: UIOf - the actual level of distribution costs;

UIOb - the level of distribution costs in the base period;

Of - the actual volume of trade;

f) the effect on the size of the balance sheet profit of changes in other income and expenses is determined by the direct account method. The change in the difference between income and expenses will be the size of the influence of this factor on the result;

g) the change in the efficiency of using the resources and capital of the enterprise is measured using the following formula:

where: Р - the size of the invested resources (capital) in cost estimate;

Pрп - profitability of using a certain type of resources (capital).

The cumulative effect of the size of the resources used and the efficiency of their use on the formation of profit is calculated as follows:

At the second stage of the analysis, according to the recommendations of individual economists, it is also proposed to calculate specific gravity gross income in turnover, share in gross income of net production ( wage plus profit), the share of profit in net production, and then, based on these indicators, build a graph of their relationship and determine the sufficiency of income and profit to solve the main problems.

At the third stage, reserves for increasing profits and

the possibility of their use in the future.

The influence of factors on the size of the deviation of the actual profit from the planned one is determined by analogy with the above method.

The profit is greatly influenced by price factors. With an increase in prices for goods, the amount of gross income increases and, conversely, a decrease in prices leads to its decrease (direct relationship). Changes in tariffs for services in other industries change the amount of distribution costs. With their increase, costs grow, and thus profit decreases (inverse relationship).

To calculate the influence of price factors, it is necessary to recalculate the amount of gross income and distribution costs in comparable prices. Along with these factors (changes in prices and tariffs), the analysis establishes the impact on profit of changes in the volume of sales of goods in comparable prices and the structure of trade.

The profit analysis ends with a generalization of unused reserves for their growth. These are the acceleration of the turnover of circulating assets, the increase in the cost efficiency of living labor, the reduction in distribution costs, the growth of labor productivity, the coefficients of the efficiency of using retail space, and the growth in the sale of goods in natural units of measurement.

To deepen the analysis, it is necessary to study in more detail all of the above reserves for profit growth for the real possibility of their implementation in order to obtain higher profits and profitability. In this regard, it is recommended to use the materials of the operational analysis. And after that, they start predictive analysis.

In-depth analysis of profit is an important information source for the development of an informed forecast and, based on it, a profit plan for the future.

Although in the conditions of an unstable economic situation and a constant rise in prices, many abandon planning due to the complexity of forecasting even single-digit quantitative indicators, nevertheless, without such calculations, the manageability of an enterprise is significantly reduced. As foreign experience shows, it was detailed planning that allowed firms to survive, develop and win the competition.

In the absence of forecast calculations for the most important indicators, the enterprise is not able to promptly control its income and expenses and make appropriate management decisions.

The development of forecast calculations of profit is due to the need for a quarterly submission of a certificate on the relationship with the budget for taxes on profit (income) of the tax inspectorate of your area. This certificate shows the profit accepted in the enterprise plan, including income from other events and activities, real estate tax, preferential and taxable profit, tax rate and the amount of profit that must be transferred to the budget. To draw up such a certificate, in addition to profit, it is necessary to calculate all other intermediate indicators: gross income, distribution costs, trade turnover.

In order to increase the reliability of forecast calculations of profit, it is recommended to develop a forecast not for a year, but for a quarter (and for internal purposes - for a month), that is, go from particular to general.

The object of special attention at any enterprise is the profit from sales. As the analysis of the composition of profit has shown, gross profit largely depends on profit from sales, therefore, factoring analysis of profit from sales allows:

· To assess the reserves of increasing production efficiency;

· To form management decisions on the use of production factors.

The profit from the sale of products as a whole for the enterprise depends on four factors of the first level of subordination: the volume of sales of products in physical terms Q, its structure D, cost C and the level of prices P. The volume of sales of goods can have a positive and negative effect on the amount of profit. Increasing sales of profitable products translates into increased profits. If the product is unprofitable, then with an increase in the sales volume, the amount of profit decreases.

Structure marketable products can have both positive and negative impact on the amount of profit. If the share of more profitable types of goods in the total volume of its sales increases, then the amount of profit will increase. On the contrary, with an increase in the share of low-profit or unprofitable goods, the total amount of profit will decrease.

The cost of goods and profit are inversely proportional: a decrease in cost leads to a corresponding increase in the amount of profit, and vice versa.

The model of profit dependence on the listed factors is as follows:

where n is the number of product names in the product range.

To simplify the analysis procedure, the following procedure for studying the influence of factors on profit can be used:

· Considers the influence of factors of the first order (selling price and cost) on the profit from a unit of production for each item;

· The influence of factors of the second order (structural shifts and specific profit for each product name) on the average profit per unit of production is calculated;

· The influence of the total volume of output and profit from a unit of production on the profit from sales is estimated.

CHAPTER 2. ACCOUNTING OF FINANCIAL RESULTS OF ACTIVITIES OF THE ORGANIZATION

2.2. Accounting for income and expenses from ordinary activities

The financial result reflects the change in equity for a certain period as a result of the production and financial activities of the organization.

The financial result is determined by account 99 "Profits and losses". On the credit of this account, income and profits are reflected, and on debit - expenses and losses.

Business transactions are reflected on account 99 on a cumulative basis, i.e. on an accrual basis since the beginning of the year. By comparing the credit and debit turnovers for account 99, the final financial result for the reporting period is determined. The excess of the credit turnover over the debit turnover is reflected as the balance on the credit of account 99 and characterizes the amount of the organization's profit, and the excess of the debit turnover over the credit is recorded as the balance on the debit of account 99 and characterizes the amount of the organization's loss. Account 90 has a one-sided balance.

The final financial result of the organization is influenced by:

a) the financial result from the sale of products (works, services);

b) the financial result from the sale of fixed assets, intangible assets, materials and other property;

c) other income and expenses.

The difference between these components of profit or loss is that the financial result from the sale of products and other property is initially determined by the sales accounts (90, 91), and then written off from these accounts to account 99.

Organizations receive the bulk of their profits from the sale of products, goods (works and services). Profit from the sale of products (works, services) is defined as the difference between the proceeds from the sale of products (works, services) in current prices excluding VAT and excise taxes, export duties and other deductions provided for by the legislation of the Russian Federation, and the costs of its production and sale.

The financial result from the sale of products (works, services) is determined by account 90 "Sales".

Account 90 "Sales" is intended to summarize information on income and expenses associated with the ordinary activities of the organization, as well as to determine the financial result of them. This account reflects revenue and cost for:

· finished products and semi-finished products of our own production;

· Works and services of an industrial nature;

· Works and services of a non-industrial nature;

· Purchased products (purchased for completing);

· Construction, installation, design and survey, geological exploration, research, etc. works;

· Goods;

· Services for the transportation of goods and passengers;

· Transport and forwarding and loading and unloading operations;

· Communication services;

· The provision for a fee for temporary use (temporary possession and use) of their assets under a lease agreement (when this is the subject of the organization's activities);

· Granting for a fee the rights arising from patents for inventions, industrial designs and other types of intellectual property (when this is the subject of the organization's activities);

Participation in the authorized capital of other organizations (when this is the subject of the organization's activities), etc.

When recognized in accounting, the amount of proceeds from the sale of goods, products, performance of work, provision of services, etc. is reflected in the credit of account 90 "Sales" and the debit of account 62 "Settlements with buyers and customers". At the same time, the cost of goods sold, products, works, services, etc. is debited from the credit of accounts 43 "Finished goods", 41 "Goods", 44 "Expenses for sale", 20 "Main production", etc. to the debit of account 90 "Sales" ...

In organizations engaged in the production of agricultural products, the credit of account 90 "Sales" reflects the proceeds from the sale of products (in correspondence with account 62. "Settlements with buyers and customers"), and on debit - its planned cost (during the year, when the actual cost, not revealed to them) and the difference between the planned and actual cost of products sold (at the end of the year). The planned cost of goods sold, as well as the amount of differences, are written off to the debit of account 90 "Sales" (or reversed) in correspondence with the accounts on which these products were recorded.

In organizations carrying out retail trade and keeping records of goods at sales prices, the credit of account 90 "Sales" reflects the sales value of the goods sold (in correspondence with accounts for accounting for cash and settlements), and after reaching their accounting value (in correspondence with account 41 "Goods") with a simultaneous reversal of the amounts of discounts (capes) related to the goods sold (in correspondence with account 42 "Trade margin").

To account 90 "Sales" Sub-accounts can be opened:

90-1 "Revenue";

90-2 "Cost of sales";

90-3 "Value Added Tax";

90-4 "Excise";

90-9 "Profit / loss from sales".

Subaccount 90-1 "Revenue" records receipts of assets recognized as revenue.

On subaccount 90-2 "Cost of sales", the cost of sales is taken into account, for which revenue is recognized on subaccount 90 - 1 "Revenue".

Subaccount 90-3 "Value added tax" takes into account the amount of value added tax due to be received from the buyer (customer).

Subaccount 90-4 "Excise" takes into account the amounts included in the price of sold products (goods).

Organizations - payers of export duties can open subaccount 90-5 "Export duties" to account 90 "Sales" to record the amounts of export duties.

Subaccount 90-9 "Profit / loss from sales" is designed to identify the financial result (profit or loss) from sales for the reporting month.

Entries on subaccounts 90-1 “Revenue”, 90-2 “Cost of sales”, 90-3 “Value added tax”, 90-4 “Excise” are made cumulatively during the reporting year. Monthly comparison of the aggregate debit turnover for subaccounts 90-2 "Cost of sales", 90-3 "Value added tax", 90-4 "Excise" and credit turnover for subaccount 90-1 "Revenue" determines the financial result (profit or loss) from sales for the reporting month. This financial result is written off monthly (final turnovers) from subaccount 90-9 "Profit / loss from sales" to account 99 "Profits and losses". Thus, the synthetic account 90 "Sales" has no balance at the reporting date.

At the end of the reporting year, all sub-accounts opened to account 90 “Sales” (except for sub-account 90-9 “Profit / loss from sales”) are closed by internal records to sub-account 90-9 “Profit / loss from sales”.

Analytical accounting for account 90 "Sales" is carried out for each "go of goods sold, products, work performed, services rendered, etc. In addition, analytical accounting for this account can be kept by sales regions and other areas necessary to manage the organization.

In OJSC Tekmash, the working chart of accounts provides for the following sub-accounts for account 90:

· 90-1 "Revenue";

· 90-2 "Cost of sales"

· 90-3 "Value Added Tax";

· 90-9 "Profit / loss from sales".

· The sub-account intended for VAT accounting is an integral part of the price.

Revenue is the amount of funds that an enterprise receives or should receive from buyers (customers) for the goods sold by it (products, work performed, services rendered).

The amount of revenue is reflected on subaccount 90-1 if it is received from the ordinary activities of your organization, that is, from the sale of products and goods, performance of work or provision of services.

When reflected in the accounting of proceeds from ordinary activities in accounting, an entry is made:

DEBIT 62 CREDIT 90-1

The amount of proceeds from the sale of goods (products, performance of work, provision of services) is recognized

Revenue is reflected in the accounting immediately after the ownership of the goods (products) sold by the organization passed to the buyer (the work was accepted by the customer, the service was provided).

As a rule, this happens at the time of shipment of goods (products) or at the time of transferring the results of the work performed (services rendered) to the customer.

Simultaneously with the recognition of revenue, the cost of goods sold is written off with the following entry:

DEBIT 90-2 CREDIT 41 (43, 45, 20, ...)

The cost of goods sold (products, work performed, services rendered) has been written off.

On the debit of subaccount 90-2, indicate the cost of only those goods (products, works, services), the income from the sale of which is accounted for on the credit of subaccount 90-1.

In the contract of sale, in some cases, the organization may provide that ownership passes to the buyer not at the time of shipment of the goods, but later (for example, after the goods have been paid for). A contract that contains such a clause is called a “special transfer of ownership contract”.

In this case, revenue is recognized only after receipt of money from the buyer.

The goods that are transferred to the buyer under such an agreement, until the moment of payment, are recorded on account 45 "Goods shipped".

DEBIT 45 CREDIT 41 (43)

The goods (finished products) were shipped but under an agreement with a special transfer of ownership.

There are features of the reflection of proceeds from exchange (barter) transactions.

Unless otherwise provided by the contract, the ownership of the goods, which is transferred under a barter contract, passes to the buyer only after the property is received from him, which he must transfer in return. Until that moment, the goods transferred to the buyer under a barter agreement are accounted for on account 45 "Goods shipped".

The amount of proceeds under a barter agreement is calculated based on the market value of the property received in return.

If the price of goods established under a commodity exchange agreement deviates from the market price by more than 20%, then taxes under the agreement are calculated based on the market price of goods (clause 2 of article 154 of the Tax Code of the Russian Federation).

The price of the goods in the contract can be set in any foreign currency or conventional monetary units. However, on the territory of Russia, settlements are made only in rubles. Therefore, the price set in foreign currency or conventional units is converted into rubles.

Thus, a purchase and sale agreement may stipulate that the goods are paid for in rubles at the foreign currency exchange rate on the day the buyer transfers money.

In such a situation, it is necessary:

a) reflect the proceeds on the day of transfer of ownership of the goods to the buyer (at the foreign exchange rate in effect on that day);

b) adjust (increase or decrease) the proceeds based on the amount of funds actually received from the buyer.

If the foreign exchange rate on the date of payment for the goods is higher than on the date of shipment, then a positive amount difference arises. The proceeds are added to this amount:

DEBIT 62 CREDIT 90-1

Additional accrued revenue in the amount of the positive sum difference.

Positive sum differences on subaccount 90-1 are included in the turnover subject to VAT.

If the foreign currency exchange rate on the date of payment for the goods is less than on the date of shipment, then a negative amount difference arises. The revenue is reduced by this amount and a reversal posting is made in accounting:

[DEBIT 62 CREDIT "90-1]

Decreased revenue by the amount of the negative amount difference.

Negative sum differences on subaccount 90-1 reduce the turnover subject to VAT.

In the contract of sale, the organization may provide that the buyer is provided with a deferral or installment plan for payment for the goods sold to him, that is, the buyer is provided with a commercial loan.

Under such conditions of the contract, the buyer pays the cost of the product itself and interest for the deferred payment. The amount of interest the organization receives increases the sales revenue.

In this situation, it is necessary:

a) reflect the proceeds on the day of transfer of ownership of the goods to the buyer;

b) increase the revenue by the amount of interest that the buyer paid for the deferred payment.

In accounting, postings are made:

DEBIT 62 CREDIT 90-1

Reflected revenue from the sale of goods;

DEBIT 62 CREDIT 90-1

Increased revenue by the amount of interest for deferred payment.

After the revenue is reflected in the accounting and the cost of goods sold (work performed, services rendered) is written off, transactions are made for calculating taxes that are part of the price.

For tax purposes, sales proceeds are accounted for using one of two methods:

· By the moment of shipment of products;

· At the moment of payment for the shipped products (work performed, services rendered).

When accounting for proceeds from shipment, taxes on proceeds are accrued after the ownership of the shipped goods has passed to the buyer (after the work is completed, the services are rendered).

If the organization calculates taxes on shipment, when calculating VAT, an entry is made:

DEBIT 90-3 CREDIT 68 subaccount "Calculations for VAT"

Calculated VAT payable to the budget

When accounting for proceeds from payment, taxes on proceeds are charged after the buyer has paid for the goods (work, services).

If the entity calculates taxes on payments, and at the time of recognition of revenue, payment from customers has not yet been received, a posting is made:

CREDIT 76 subaccount "Calculations for unpaid VAT"

VAT included on unpaid proceeds.

After the money is received from the buyer, an entry is made in the account:

DEBIT 76 subaccount "Calculations for unpaid VAT" CREDIT 68 subaccount "Calculations for VAT"

VAT charged to the budget.

The selected method of accounting for revenue for tax purposes is fixed in the accounting policy of the organization.

To account for the amounts of excise taxes that are received from buyers as part of the proceeds, a subaccount 90-4 "Excise" is opened to account 90.

The accrual of excise tax is reflected as follows:

DEBIT 90-4 CREDIT 68 subaccount "Calculations of excise taxes"

Regardless of how the organization determines revenue for tax purposes (for payment or for shipment), the excise tax payable to the budget is charged on the day the goods are transferred to the buyer.

An exception to the payment of excise taxes is provided only for certain categories of excisable goods (clause 1 of article 195 of the Tax Code of the Russian Federation). For these goods, the accrual of excise taxes is made after their payment.

The accrual of excise duty after payment for the goods is reflected in the accounting as follows:

on the day of shipment of goods:

DEBIT 90-4 CREDIT 76 subaccount "Calculations of unpaid excise taxes"

The excise tax on unpaid proceeds was taken into account;

on the day of receipt of payment:

DEBIT 76 subaccount "Calculations for unpaid excise taxes" CREDIT 68 subaccount "Calculations for excise taxes"

Excise tax payable to the budget has been charged.

At the end of each month, the accounting department of the organization determines the financial result (profit or loss) from sales.

This is done like this:

If the difference between revenue (excluding taxes) and cost of sales is positive, then the organization made a profit in the reporting month.

This amount is reflected by the final turnovers of the month on the debit of subaccount 90-9 from sales and the credit of account 99 "Profit and loss":

DEBIT 90-9 CREDIT 99

Reflected profit from sales.

If the difference between revenue (excluding taxes) and the cost of sales is negative, then the organization in the reporting month received a loss, which in accounting is reflected by the final turnovers of the month on the credit of subaccount 90-9 and the debit of account 99 "Profits and losses":

DEBIT 99 CREDIT 90-9

The loss from sales is reflected.

Account 90 at the end of each month has no balance. However, all sub-accounts of account 90 have balances during the year, and their value increases starting from January of the reporting year.

In this case, subaccount 90-1 during the year has only a credit balance, and subaccounts 90-2, 90-3, 90-4, 90-5 and 90-6 have only a debit balance. Subaccount 90-9 can have both a debit balance (profit) and a credit balance (loss).

On December 31, after the financial result for December has been determined, all sub-accounts opened to account 90 are closed:

a) the credit balance of subaccount 90-1 is closed
wiring:

DEBIT 90-1 CREDIT 90-9

Closed subaccount 90-1 at the end of the year;

b) debit balances of subaccounts 90-2, 90-3, 90-4,
90-5 and 90-6 are closed with wiring:

DEBIT 90-9 CREDIT 90-2 (90-3, 90-4. 90-5, 90-6)

closed sub-accounts 90-2, 90-3, 90-4, 90-5 and 90-6 at the end of the year.

As a result of the postings made, the debit and credit turnovers on the subaccounts of account 90 are equal.

As of January 1 of the next year, the balance on account 90 as a whole and on all sub-accounts opened to it is equal to zero.

2.2. Accounting for other income and expenses of the organization

In addition to products (works, services), organizations can sell fixed assets, intangible assets, inventories, securities and other assets, while receiving income and having certain expenses.

Account 91 "Other income and expenses" is designed to summarize information about other income and expenses of the reporting period.

On the credit of account 91 "Other income and expenses" during the reporting period, the following are reflected:

· Receipts related to the provision for a fee for temporary use (temporary possession and use) of the organization's assets - in correspondence with accounts for accounting for settlements or monetary funds;

· Receipts related to the granting of rights arising from patents for inventions, industrial designs and other types of intellectual property for a fee - in correspondence with accounts of settlements or monetary funds;

· Receipts related to participation in the authorized capital of other organizations, as well as interest and other income on securities - in correspondence with settlement accounts;

· Profit received by the organization under a simple partnership agreement - in correspondence with account 76 "Settlements with various debtors and creditors" (subaccount "Settlements for dividends and other income due");

· Receipts related to the sale and other write-off of fixed assets and other assets other than cash in Russian currency, products, goods - in correspondence with accounts for accounting for settlements or cash;

· Receipts from operations with tare - in correspondence with tare and settlement accounts;

· Interest received (to be received) for the provision of funds for use by the organization, as well as interest for the use by a credit institution of funds that are on the account of the organization with this credit institution - in correspondence with the accounts of financial investments or funds;

· Fines, penalties, forfeits for violation of the terms of contracts, received or recognized for receipt - in correspondence with accounts of accounting of settlements or monetary funds;

· Receipts associated with the gratuitous receipt of assets - in correspondence with the account of accounting for deferred income;

· Receipts in compensation for losses caused to the organization - in correspondence with the accounts of settlements;

· The profit of previous years, revealed in the reporting year, - in correspondence with the accounts of the accounting of settlements;

· The amount of accounts payable for which the limitation period has expired - in correspondence with accounts payable;

· Exchange rate differences - in correspondence with accounts for accounting for monetary funds, financial investments, settlements, etc.

The debit of account 91 "Other income and expenses" during the reporting period reflects:

Costs associated with the provision for a fee for temporary use (temporary possession and use) of the organization's assets, rights arising from patents for inventions, industrial designs and other types of intellectual property, as well as costs associated with participation in the authorized capital of other organizations - in correspondence with cost accounting accounts;

· The residual value of assets for which depreciation is charged, and the actual cost of other assets written off by the organization - in correspondence with the accounting accounts of the corresponding assets;

· Expenses related to the sale, disposal and other write-off of fixed assets and other assets other than cash in Russian currency, goods, products - in correspondence with cost accounting accounts;

· Expenses on operations with packaging - in correspondence with expense accounts;

· Interest paid by the organization for the provision of funds (credits, loans) to it for use - in correspondence with accounts of settlements or monetary funds;

· Expenses related to payment for services rendered by credit institutions - in correspondence with settlement accounts;

· Fines, penalties, forfeits for violation of the terms of contracts, paid or recognized for payment - in correspondence with accounts for accounting settlements or monetary funds;

· Expenses for the maintenance of production facilities and facilities that are on conservation - in correspondence with cost accounting accounts;

· Reimbursement of losses caused by the organization - in correspondence with settlement accounts;

· Losses of previous years recognized in the reporting year - in correspondence with accounts of accounting of settlements, depreciation charges, etc .;

· Deductions to reserves for the depreciation of investments in securities, for the depreciation of material assets, for doubtful debts - in correspondence with the accounts of these reserves;

· The amount of accounts receivable for which the limitation period has expired, other debts that are unrealistic for collection, in correspondence with accounts receivable;

· Exchange rate differences - in correspondence with accounts for accounting for monetary funds, financial investments, settlements, etc .;

Expenses related to the consideration of cases in courts - in correspondence with accounts for accounting settlements, etc.

Sub-accounts can be opened to account 91 "Other income and expenses":

91-1 "Other income";

91-2 "Other expenses";

91-9 "Balance of other income and expenses".

On subaccount 91-1 "Other income" receipts of assets recognized as other income are taken into account.

On subaccount 91-2 "Other expenses" other expenses are taken into account.

Sub-account 91-9 "Balance of other income and expenses" is designed to identify the balance of other income and expenses for the reporting month.

Entries on subaccounts 91-1 "Other income" and 91 - 2 "Other expenses" are made cumulatively during the reporting year. Monthly comparison of debit turnover on subaccount 91-2 "Other expenses" and credit turnover,) on subaccount 91-1 "Other income" determines the balance of other income and expenses for the reporting month. This balance is written off monthly (final turnovers) from subaccount 91-9 "Balance of other income and expenses" to account 99 "Profits and losses". Synthetic account 91 "Other income and expenses" has no balance at the reporting date.

At the end of the reporting year, all sub-accounts open to account 91 “Other income and expenses” (except for sub-account 91-9 “Balance of other income and expenses”) are closed by internal records on sub-account 91-9 “Balance of other income and expenses”.

Analytical accounting for account 91 "Other income and expenses" is kept for each type of other income and expenses. The construction of analytical accounting for other income and expenses related to the same financial, business transaction provides an opportunity to identify the financial result for each transaction.

Account 91 is used to reflect income and expenses under a lease agreement if two conditions are met:

Leasing of property is not indicated as
type of activity in the charter of the organization;

· The amount of rental income does not exceed 5% of the total revenue for the reporting period.

The amount of rent due to the organization under the lease agreement is recorded as follows:

DEBIT 76 (62) CREDIT 91-1

Income from renting out property is reflected.

Income from the lease of property, if they are received in the ordinary course of the organization, are accounted for on account 90 "Sales"

Expenses associated with the provision of property for rent (for example, repairing the premises at your own expense or paying for utilities) are reflected by the following wiring:

DEBIT 91-2 CREDIT 02 (10, 70, 69, ...)

Reflected expenses from renting out property.

Expenses related to the provision of property for rent, if received in the ordinary course of business of the organization, are recorded in expense accounts.

Income and expenses related to participation in the authorized capital of other organizations are reflected in the accounting in the same manner as income and expenses from the lease of property.

The amount of money that the organization receives from buyers for the fixed assets, intangible assets and other property sold by it is reflected:

DEBIT 62 (76) CREDIT 91-1

Income from the sale of property is taken into account.

At the same time, the residual value of the sold fixed assets, intangible assets, as well as the actual cost of other property transferred to the buyers, are written off to the debit of subaccount 91-2: DEBIT 91-2 CREDIT 01 (04, 03, 10, 58, ...)

The residual value of the property sold has been written off

Proceeds from the sale of the organization's property (except for securities) are subject to VAT:

DEBIT 91-2 CREDIT 68 subaccount "Calculations for VAT"

VAT is charged on proceeds from the sale of property.

All expenses associated with the sale of property are reflected in the debit of subaccount 91-2:

DEBIT 91-2 CREDIT 20 (23,25, ...)

Expenses related to the sale of the property are included.

To account for cash, accounts payable or receivable in foreign currency, they are converted into rubles.

For conversion, use the official exchange rate in effect on the date of receipt of foreign exchange funds or acceptance for accounting of foreign exchange debt.

Due to changes in the exchange rate of foreign currencies, the cost of funds and the amount of debts are periodically recalculated based on the new exchange rate. As a result of this conversion, exchange rate differences are positive or negative.

Positive exchange rate differences are formed:

♦ when converting funds in a foreign currency account or currency at the cash desk - if on the date of the transaction with the currency (the date of reporting) its rate has increased;

♦ when recalculating accounts payable - if on the date of repayment of the debt (the date of reporting) the exchange rate was lower than on the date of its origin;

♦ when recalculating accounts receivable - if on the date of repayment of the debt (the date of reporting) the exchange rate turned out to be higher than on the date of its origin.

The amount of positive exchange rate difference is credited to subaccount 91-1:

DEBIT 50 (52, 60, 62, 76, ...) CREDIT 91-1

The positive exchange rate difference is reflected.

Negative exchange rate differences are formed:

· When recalculating funds in a foreign currency account or currency at the cash desk - if on the date of the transaction with the currency (the date of reporting) its rate has decreased;

· When recalculating accounts payable - if on the date of repayment of the debt (the date of reporting) the exchange rate turned out to be higher than on the date of its origin;

· When recalculating accounts receivable - if on the date of repayment of the debt (the date of reporting) the exchange rate was lower than on the date of its origin.

The amount of negative exchange rate difference is charged to the debit of subaccount 91-2:

DEBIT 91-2 CREDIT 50 (52, 60, 62, 76, ...)

At the end of each month, the balance of income and expenses on account 91 is determined

This is done like this:

The balance of other income and expenses shows the financial result from other activities of your organization - profit or loss.

If the amount of income exceeds the amount of expenses, then the organization has made a profit. This amount is reflected by the final turnovers of the month on the debit of subaccount 91-9 and the credit of account 99 "Profit and Loss":

DEBIT 91-9 CREDIT 99

Reflected profit from other activities.

If the amount of income was less than the amount of expenses, then the organization received a loss. This amount is reflected by the final turnovers of the month on the credit of subaccount 91-9 and the debit of account 99 "Profit and Loss":

DEBIT 99 CREDIT 91-9

Reflected loss from other activities.

Account 91 has no balance at the end of each month. Sub-accounts 91-1 and 91-2 have balances during the year, and their value increases starting from January of the reporting year.

In this case, subaccount 91-1 during the year can only have a credit balance, and subaccount 90-2 only a debit balance. Subaccount 91-9 can have both a debit balance (profit) and a credit balance (loss)

On December 31, after the balance of other income and expenses for December was determined by internal records on sub-accounts of account 91, all sub-accounts opened to account 91 are closed:

The credit balance of subaccount 91-1 is closed by posting:

DEBIT 91-1 CREDIT 91-9

Closed subaccount 91-1 at the end of the year;

The debit balance of subaccount 91-2 is closed by posting:

DEBIT 91-9 CREDIT 91-2

Closed sub-account 91-2 at the end of the year

2.3. Accounting for the final financial result

Account 99 “Profits and Losses” is intended to summarize information on the formation of the final financial result of the organization's activities in the reporting year.

The final financial result (net profit or net loss) is made up of the financial result from ordinary activities, as well as other income and expenses. The debit of account 99 "Profits and losses" reflects the losses (losses, expenses), and the credit - the profits (income) of the organization. Comparison of debit and credit turnovers for the reporting period shows the final financial result of the reporting period.

Account 99 “Profits and Losses” during the reporting year reflects:

· Profit or loss from ordinary activities - in correspondence with account 90 "Sales";

· The balance of other income and expenses for the reporting month - in correspondence with account 91 "Other income and expenses";

· Accrued payments of income tax and payments for recalculations for this tax from actual profit, as well as the amount of due tax sanctions - in correspondence with account 68 "Calculations of taxes and fees".

At the end of the reporting year, when drawing up the annual financial statements, account 99 “Profits and losses” is closed.

In this case, with the final entry in December, the amount of net profit (loss) of the reporting year is debited from account 99 "Profits and losses" in the credit (debit) of account 84 "Retained earnings (uncovered loss)".

The construction of analytical accounting for account 99 "Profits and losses" provides the formation of the data necessary for drawing up a profit and loss statement.

Account 99 reflects the final financial result of the organization for the reporting period: net profit or net loss.

The model for the formation of indicators of the organization's profit:

Income from ordinary activities

Expenses for ordinary activities

Income tax

Income tax recalculation payments

Sanctions for violation of tax legislation

Net profit (loss) for the reporting period

If the organization made a profit in the reporting month, they make the following posting:

DEBIT 90-9 CREDIT 99

Reflected profit from sales (final
turnover of the reporting month).

If the organization received a loss in the reporting month, then make the following entry:

DEBIT 99 CREDIT 90-9

The loss from sales is reflected (by the closing turnovers of the reporting month).

For the amount of excess of the organization's income over its expenses, a posting is made:

DEBIT 91-9 CREDIT 99

Reflected profit from other activities of the organization

If the amount of the organization's income is less than the amount of expenses, make up the following entry:

DEBIT 99 CREDIT 91-9

Reflected loss from other activities of the organization
(final turnovers of the reporting month).

The amount of tax from the actual profit, calculated to be paid to the budget according to the Calculation (tax declaration), is reflected in the accounting by posting:

DEBIT 99 CREDIT 68 subaccount "Calculations of income tax"

The amount of income tax for the reporting period was charged

If the tax inspectorate, based on the results of the audit, has accrued interest and fines to the organization, which it does not object to payment, a posting is made in the accounting on the debit of account 99 and the credit of the sub-account, on which the tax on which the sanctions are accrued is taken into account:

DEBIT 99 CREDIT 68 corresponding subaccount

Penalties (fines) have been charged for violations of tax legislation.

Taxable profit is not reduced by the amount of interest and fines accrued for violations of tax legislation.

On 31 December each year, account 99 “Profit and loss” is closed. This final operation of the reporting year is called the balance sheet reform. As of January 1 of the next year, account 99 must have a balance of zero.

If, at the end of the reporting year, the organization made a profit (that is, the balance on account 99 is credit), then make up the posting:

DEBIT 99 CREDIT 84

Reflected net profit for the reporting year.

If at the end of the reporting year the organization received a loss (that is, the balance on account 99 is debit), make a record:

DEBIT 84 CREDIT 99

Reflected net (uncovered) loss of the reporting year.

As of January 1 of the next year, the balance on synthetic accounts 99, 90, 91, as well as on all their sub-accounts, will be equal to zero.

Disclosure of information on profits and losses in the financial statements is carried out in the Profit and Loss Statement (Form No. 2).

The profit and loss account is mainly based on the data of accounts 90 "Sales" and 91 "Other income and expenses".

2.4. Profit use accounting

To summarize information on the use of the profit of the reporting year during this year, account 84 "Retained earnings" is intended. This account is active-passive. Sum net profit is written off to the credit of account 84 by the final record of December in correspondence with account 99. The amount of uncovered loss is written off to the debit of account 84.

The distribution of profits is legally regulated in the part that goes to the budgets of different levels in the form of taxes and other mandatory payments. Determining the directions of spending the profit remaining at the disposal of the enterprise, the structure of the articles of its use is in the competence of the enterprise.

The principles of profit distribution can be formulated as follows:

· The profit received by the enterprise as a result of production, economic and financial activities is distributed between the state and the enterprise as an economic entity;

· Profit for the state goes to the respective budgets in the form of taxes and fees, the rates of which cannot be arbitrarily changed. The composition and rates of taxes, the procedure for their calculation and contributions to the budget are established by law;

· The amount of the enterprise's profit remaining at its disposal after paying taxes should not reduce its interest in increasing the volume of production and improving the results of production, economic and financial activities;

· The profit remaining at the disposal of the enterprise, first of all, is directed to accumulation, ensuring its further development, and then to consumption.

At the enterprise, the distribution is subject to net profit, that is, the profit remaining at the disposal of the enterprise after taxes and other mandatory payments. It collects sanctions paid to the budget and some extrabudgetary funds.

V modern conditions The state does not establish any standards for the distribution of profits, but through the procedure for granting tax incentives it stimulates the direction of profits for capital investments of a production and non-production nature, for charitable purposes, financing of environmental measures, expenses for the maintenance of facilities and institutions of the social sphere, etc. Legislation limits the size of the reserve fund of enterprises, regulates the procedure for forming a reserve for doubtful debts.

The distribution of net profit is one of the areas of intra-firm planning, the importance of which in a market economy is of great importance. The procedure for the distribution and use of profits at the enterprise is fixed in the charter of the enterprise and is determined by the regulation, which is developed by the relevant departments of economic services and approved by the governing body of the enterprise. The profit of the reporting period is adjusted for payments to the budget, which either increase or decrease it in accordance with the Tax Code of the Russian Federation, after which taxable profit is obtained, from which income tax is taken. The expenses at the expense of the profit remaining at the disposal of the enterprise include: various payments of the social direction and other expenses for encouraging the personnel of the organization.

In accordance with the current legislation of the Russian Federation and the provisions of the constituent documents, a reserve fund is created at the enterprise. If the constituent documents do not provide for a clause for creating a reserve fund, then the enterprise does not have the right to create it. Contributions to the reserve fund at the enterprise are carried out before taxation of profits. The funds of the reserve fund are intended to cover the balance sheet loss for the reporting year, to redeem bonds and buy back shares of the joint-stock company in the absence of other funds. The funds of the fund can be partially used to pay dividends in case of insufficient funds for the profit of the reporting year (if the reserve fund was formed at the expense of deductions from net profit). The charter of the enterprise defines the possible directions of using the resources of the reserve fund. The company makes contributions to the reserve fund until the time the reserve fund matches the size of the reserve fund established by the company's charter. If the resources of the reserve fund are used for other purposes (for example, for the payment of dividends on preferred shares), additional contributions to the fund are not made due to a decrease in taxable profit.

In accordance with the Regulation on accounting "Financial statements of the organization" (PBU 4/99), at present, the company can create reserves for doubtful debts. This reserve is created at the expense of the profit of the reporting year based on the results of the inventory, if the order on accounting policy provides for the creation of this reserve. At the expense of this reserve, by the decision of the manager, it is possible to write off doubtful debts (accounts receivable that were not repaid within the time frame established by the contract and not secured by an appropriate guarantee, debts that are not realistic for collection). The amount of the reserve for each doubtful debt is determined separately (depending on the debtor's solvency and the likelihood of debt repayment).

Retained earnings in a broad sense as profit, and retained earnings of previous years indicate the financial stability of the enterprise, the availability of a source for further development.

The profits of enterprises are subject to income tax. The distribution object is the balance sheet profit of the enterprise. Its distribution refers to the direction of profit to the budget and by items of use at the enterprise. In accounting, the balance sheet profit is identified as a credit balance on account 99 "Profit and loss". " In this case, the amount of the organization's income from equity participation in other enterprises, dividends and interest on securities is deducted from it.

Debit 84 Credit 70 "Payments with personnel on remuneration"; 75 "Settlements with founders"

Accrued income to employees or founders

Debit 84 Credit 82 "Reserve capital"

Contributions to reserve capital

Debit 84 Credit 84

Coverage of the previous year's loss

The amount of the net loss of the reporting year is written off with the closing transactions in December:

Debit 84 Credit 99

Losses of the reporting year from the credit of account 84 to the debit of accounts 82 when written off at the expense of the reserve; 75 when the loss is repaid at the expense of the founders; 80 "Authorized capital" when bringing the amount of the authorized capital to the value of the net assets of the organization.

Analytical accounting for account 84 "Retained earnings" should provide the formation of information on the areas of use of funds. In this case, the funds of retained earnings used as financial support for the production development of the organization or other similar measures for the creation and acquisition of new property and not yet used can be divided in the analytical accounting.

A significant part of taxes affects the formation of financial results of economic activities of enterprises and the amount of net profit. Part of the taxes is related to the financial results of the economic activity of the enterprise, that is, it is charged on the debit of account 99 “Profits and losses”. These include taxes of the constituent entities of the Russian Federation:

· Property tax (fixed assets, intangible assets, materials, low value and wearing out items, work in progress, non-capital work, deferred expenses, finished goods and goods (at cost).

Also, some local taxes are attributed to financial results:

Target fees from enterprises, regardless of their organizational and legal forms for the maintenance of the police,

· Fee for parking vehicles,

Fee for filming and filming,

Maintenance tax housing stock and objects of the social and cultural sphere.

These taxes are paid by businesses if they are introduced in the area by local authorities.

The rest of the federal taxes (tax on transactions with securities, the fee for using the name "Russia"), as well as part of the local taxes are paid from the profit remaining at the disposal of the enterprise (tax on the construction of industrial facilities in the resort area; duty for the right to trade, tax for car resale, computing technology, license fee for the right to trade in alcoholic beverages, license fee for the right to conduct local auctions and lotteries; levy for the use of local symbols, levy for opening a gambling business), if they are introduced in the given territory.

Income tax is the main form of withdrawal of profit to the budget. The procedure for calculating and paying income tax is established by legislative acts of the Russian Federation.

Income tax is calculated and levied in accordance with Chapter 25 of the Tax Code of the Russian Federation.

The financial work on the calculation of corporate income tax consists of several stages: determining the amount of taxable profit, the correct application of tax rates and benefits, ensuring the timeliness and completeness of calculations with the budget.

Income tax payers are enterprises and organizations - legal entities, as well as branches of enterprises that have a separate balance sheet and current account.

The initial base value for calculating taxable profit is the gross profit of the enterprise. To determine it, the amount of the company's balance sheet profit, calculated in accordance with the established procedure, is used. It increases for enterprises engaged in direct exchange or sale of products at prices not higher than cost. For the purposes of taxation on such operations, profit is determined as the difference between the amount calculated at market prices in effect when the enterprise sells similar products and the cost of production.

When carrying out a direct exchange for fixed assets and other property or selling these types of property at prices not higher than their book value, the transaction amount is determined by the market value of the property. The book value of the property sold or retired is excluded from it and the gross profit of the enterprise is increased by the amount of profit calculated in this way.

Funds allocated for the formation of the authorized capital of enterprises by their founders in accordance with the legislatively established procedure, funds combined by enterprises in joint activities are not taxed, as well as contributions, voluntary donations from individuals.

The amount of income tax is determined based on the amount of taxable income, taking into account the benefits provided and the income tax rate.

An important element of the taxation system is the provision of tax incentives by an enterprise.

Specific types of benefits are updated annually based on the objectives financial policy... In modern conditions, a decrease in the amount of taxable profit with actually incurred costs and expenses at the expense of the profit remaining at the disposal of the enterprise is carried out by the amount:

· Aimed at financing capital investments for production and non-production purposes; aimed at financing, in the order of equity participation, capital investments for production and non-production purposes, for repayment of bank loans received and used for these purposes;

· Aimed at conducting research and development work by enterprises (no more than 10% of taxable profit);

· In capital investments for environmental protection measures;

· Directed as voluntary contributions to the Fund for the Support of Entrepreneurship and Development of Competition.

The profit of enterprises received from the sale of manufactured and processed agricultural products is completely exempted.

The rest of the benefits are of a social nature and are provided to enterprises in the amount of costs (within the approved standards) for the maintenance of facilities and institutions of the social sphere on their balance sheet.

Profit is subject to full tax exemption:

· Enterprises of public organizations of people with disabilities, aimed at ensuring the statutory activities of these organizations or spent independently for the social needs of people with disabilities;

· Production (labor) workshops at institutions of social protection and social rehabilitation of the population;

· Enterprises Federal Service forestry of Russia.

The Tax Code of the Russian Federation defines the relationship between taxpayers and the bodies of the State Tax Service. It defines the obligations of the taxpayer, his rights, the rights of tax authorities, the obligations of banks and credit institutions to transfer taxes to the budget, the period of undisputed collection of arrears from legal entities, the responsibility of the taxpayer for failure to fulfill his obligations. The Tax Code of the Russian Federation supplements and expands the Law.

The responsibility of the taxpayer for violation of tax legislation is reflected in the Tax Code of the Russian Federation. In addition to administrative and criminal liability, the Tax Code of the Russian Federation provides for three types of economic liability: collection of hidden profits, or tax for another taxable object, a fine of 10%, and a penalty.

Fines and penalties are financial sanctions that are of a property nature and consist in collecting a certain amount of money from the violators to the budget. The amount of the fine is calculated as a percentage of the amount of hidden (underestimated) profit, and the penalty is calculated as a percentage of the time of delay in tax payment.

In case of concealment (understatement) of profits, the entire amount of the underpayment and a fine in the amount of the same amount, that is, in a single amount, are collected, and in case of a repeated violation - a fine in double the amount of this amount.

CHAPTER 3. ANALYSIS OF FINANCIAL RESULTS IN THE ACTIVITIES OF THE ORGANIZATION (ON THE EXAMPLE OF OJSC "TEKMASH")

3.1. Organizational and economic characteristics of the enterprise

The main activity of OJSC "Tekmash" is the production and sale of canteens, kitchen and other household items.

The aim of OJSC "Tekmash" is the production of these products and the satisfaction of the existing demand for them in the market and, accordingly, making a profit in the process of this activity.

The authorized capital of OJSC "Tekmash" is 75435 thousand rubles.

To carry out its business activities, OJSC has fixed assets, their residual value at the end of 2008 amounted to 9739 thousand rubles. During the analyzed period, the cost of fixed assets increased by 674 thousand rubles, which is explained by their receipt as a result of new construction and the acquisition of fixed assets. The depreciation amount as of 01.01.2008 is 5508 thousand rubles, it has increased in comparison with 2007 by 469 thousand rubles. The degree of depreciation of fixed assets as of 01.01.2007 is equal to 36.1%. In 2008, the rate of depreciation of fixed assets increased by 0.4%. The renewal ratio is 9.2% at the end of the analyzed period. In 2008 it grew by 8.32%.

In the reporting period, machines and equipment were purchased for 774 thousand rubles, vehicles by 46 thousand rubles. Despite some renewal of fixed assets, a still high depreciation rate is observed for some of their types. The most obsolete are machines and equipment, the wear rate of which is 58.7%, vehicles - 55.6%, transmission devices - 41.8%. Improvement of indicators of the state of fixed assets of the enterprise can be achieved through the acquisition of new machines and equipment that meet new requirements to increase labor productivity and improve product quality.

The efficiency of production as a whole depends on the degree of efficiency in the use of fixed assets. Capital productivity of fixed assets in 2008 amounted to 1.3 rubles. and increased in comparison with 2007 by 0.43 rubles. The return on equity increased by 9.78% and amounted to 18.46%.

In the structure of inventories (MPZ) for the reporting year, there were also positive changes: the sum and the share of goods for sale increased by 2461 thousand rubles, respectively. or 17.9%. In the reporting year, the turnover of the inventories accelerated by 143.7 days, as a result of which funds were released from the turnover by 6468 rubles.

The company finished 2008 profitably. Net profit amounted to 485 thousand rubles.

3.2. Factor analysis of the dynamics of changes in structure

formation of financial results and profit analysis

from the financial and economic activities of the enterprise

When starting the analysis of financial results, it is necessary, first of all, to identify whether in accordance with the established procedure the balance sheet profit (loss) and all the initial components for its formation were calculated, in particular, such as proceeds from the sale of goods, products, works, services; the cost of selling goods, products, works, services; selling and administrative expenses; interest receivable and payable; other income and expenses.

On the basis of the Profit and Loss Statement of OJSC “Tekmash” presented in form No. 2, it is necessary to assess the composition, structure and dynamics of the factors forming the financial results of the organization (Table 1).

Dynamics and factors of changes in the structure of formation

financial results

(thousand roubles.)

Table 1

Indicators	Prior year		Reporting year		Deviation (+, -)	Growth rate, %
	In% to the total		In% to the total
1.Revenue (net) from the sale of goods, products, works, services (net of VAT, excise taxes and similar mandatory payments)
2. Cost of sales of goods, products, works, services
3. Selling expenses
4. Administrative expenses
5. Profit (loss) from sales
6. Interest receivable
7. Interest payable
8. Income from participation in other organizations
9. Other income
10. Other expenses
11. Profit (loss) before tax
12. Balance sheet profit (loss) of the reporting period

As evidenced by the accounting and analytical information presented in Table 1, the profit in the reporting year compared to the previous year increased by 1.04 times, while the profit from sales - by 3.1 times, the profit from financial and economic activities - by 1 , 04 times. The growth in profit from sales and financial and economic activities was accompanied by an increase in proceeds from sales by 3.05 times; the cost of selling goods, products, works, services - 2.6 times.

3.2. Factor analysis of profit from the sale of products, goods (works and services)

In the process of analyzing and evaluating financial results, special attention should be paid to the most significant article of their formation - profit (loss) from the sale of goods, products, works, services as the most important component of balance sheet profit and often exceeds it in volume. Thus, the data in Table 1 indicate that if in the previous period the profit from sales was –39.3% in the balance sheet profit, then in the reporting period it was already 117.97%, i.e. balance sheet profit is formed mainly from profit from sales and those objective and subjective factors that affect its value. For these purposes, it is recommended to carry out a multivariate analysis of changes in profit from sales of products in the reporting period in comparison with the previous one under the influence of factors that have either a positive or negative effect on its change.

Dynamics of factors of formation of profit from the sale of goods, products, works, services

(thousand roubles.)

table 2

Indicators	Previous year (baseline)	Prices and costs on an actual basis. sales volume of the reporting year	Reporting year
1. Proceeds from the sale of goods, products, works, services (excluding VAT, excise taxes and similar obligatory payments)
2. The cost (production) of the sale of goods, works, services
3. Selling expenses
4. Administrative expenses
5. Full cost of selling goods, products, works, services
6. Profit (loss) from sales
7. Growth rate of sales volume, calculated in prices of the base year,%

The calculation of the influence of factors on the change in profit (loss) from sales is shown in Table 3.

Calculation of the influence of factors on the change in profit (loss) from the sale of goods (work, services)

Table 3

Profit change factor from implementation	Calculation result, thousand rubles	Influence of the factor on the change in profit, thousand rubles (+, -)
A. Overall change in profit from sales
1. Changes in the volume of sales	216*117.5:100=-253,9
2. Changes in production cost of sales
3. Change in selling expenses
4. Change in management costs
5. Price changes	10007-7129=+2878
6. Implementation structure	892-(-253,9-2164+2878)=431,9
7. The cumulative influence of factors on the change in profit from sales

The calculations in Table 3 clearly show that this organization has sufficient reserves for increasing profits from product sales and, first of all, due to a decrease in the production cost of sales, as well as due to an increase in the share in sales of more profitable goods and products.

The analysis of the profit from the sale ends with an assessment of the dynamics of the indicators of the effectiveness of the implementation, given in Table 4.

Dynamics of indicators of the effectiveness of the sale of goods (works, services).

Table 4

As evidenced by the data in Table 4, all indicators of implementation efficiency in the reporting year exceeded their qualitative characteristics in comparison with the previous year; the profitability of sales was 7.24%, the efficiency of sales was 6.7%, and the cost per 1 ruble of sales decreased from 1.07 kopecks to 0.93 kopecks.

3.2. Analysis of the factors of formation and distribution of general accounting and taxable profit.

Profit formation factors are presented in Table 5, the most important components of which are profit (loss) from financial and economic activities.

Profit (loss) formation factors

Table 5

Profit also has the potential to increase not only by mobilizing reserves for growth in profit from sales, but also by reducing costs. The set of reserves for the growth of balance sheet profit in the reporting year in comparison with the previous year is presented in Table 6.

The set of reserves for increasing the balance sheet profit.

Table 6

As evidenced by the data in Table 6, the largest amounts of reserves for the growth of balance sheet profit were found in a decrease in expenses, whose share in the total volume is 1.4%, and in a decrease in the production cost of sales (82.2%).

To analyze the use of financial results, it is necessary to assess the composition and structure of distribution of balance sheet profit that have developed over two years, Table 7.

Dynamics of the composition and structure of distribution of balance sheet profit, thousand rubles

Table 7

Indicators	Prior year		Reporting year		Deviation, points (+, -)
		in% to the total		in% to the total
1. Balance sheet profit - total
Including:
2.1. Income tax
2.2. Distracted funds
Authorized capital
Reserve capital
settlement of dividends
other purposes, including reimbursement of the imposed sanctions from net profit
3. Retained earnings (uncovered loss)
4. Net profit remaining at the disposal of the enterprise

The data in table 7 show that in the reporting period retained earnings amounted to 4.3% of the total balance sheet profit. 95.7% of the balance sheet profit was spent, of which 17.5% was income tax, 78.2% was diverted funds. The share of income tax in the balance sheet profit decreased in the reporting period from 27.2% to 17.5%.

Balance sheet profit formed in accordance with the currently established procedure, regulatory documents and guidelines, is the base amount for calculating taxable profit. The procedure for calculating taxable profit, its composition and structure are presented in Table 8.

Composition and structure of taxable profit

Table 8

Indicators	Amount, thousand rubles	In% to the total
1. Balance sheet profit, calculated at the time of shipment of goods, products and performed works, services
2. Profit in products shipped and work performed
3. Balance sheet profit, calculated at the time of sale
4. Lost profit from the sale of imported goods
5. Losses from writing off fixed assets
6. Losses from water consumption in excess of norms
7. Travel expenses
8. Losses from writing off overdue receivables
9. Losses from exchange rate differences on operations in foreign currency
10. Total gross profit accepted for taxation
11. Exclusions from taxable gross profit
12. Taxable profit
13. Income tax rate,%
14. Amount of income tax
15. Due to the income tax budget

The data in table 8 show the elements of the formation of taxable profit, which amounted to 294 thousand rubles, or 59% of the balance sheet profit.

3.5. Proposals to improve the accounting and analysis of financial results at OJSC "Tekmash"

As discussed in this thesis, in a market economy, the value of profit is enormous. The desire to make a profit orients commodity producers to increase the volume of production needed by the consumer, to reduce production costs. With developed competition, this achieves not only the goal of entrepreneurship, but also the satisfaction of social needs. For an entrepreneur, profit is a signal indicating where the greatest increase in value can be achieved, and creates an incentive to invest in these areas. Losses also play a role. They highlight mistakes and miscalculations in the direction of funds, organization of production and marketing of products.

To improve the efficiency of the enterprise, it is of paramount importance to identify reserves for increasing production and sales, reducing the cost of products (works, services), and increasing profits. The factors necessary to determine the main areas of search for reserves to increase profits include natural conditions, state regulation of prices, tariffs and others external factors; change in the amount of funds and objects of labor, financial resources (internal production extensive factors); increasing the productivity of equipment and its quality, accelerating the turnover of working capital and other intensive factors; supply and marketing activities, environmental protection and other non-production factors.

The paper analyzes: the composition and structure of the balance sheet profit, the analysis of the factors of formation of the balance sheet profit of the enterprise and the analysis of the assessment of its dynamics; factor analysis of profits from the sale of products (works, services) and from other sales; analysis of the factors of formation of profit from financial and economic activities, analysis of the composition and structure of taxable profit.

Analyzed in this work, OJSC "Tekmash" in the study period received the greatest profit from the sale of canteens, kitchen and other household products, which is the main activity in accordance with the Charter.

The share of other expenses of the company in the total profit from sales is small and amounts to 14.4%, which is equivalent to 104 thousand rubles.

JSC "Tekmash" has a profit on work performed but not paid in the amount of 10 thousand rubles. Also in the year under study, the company made additional profit for the previous period in the amount of 24 thousand rubles.

Summarizing this information, we get another important indicator for assessing the financial and economic activities of the enterprise - the balance sheet profit adopted for taxation. It amounted to 588 thousand rubles as of 01.01.2008.

The analyzed enterprise in 2008 made capital investments in the amount of 294 thousand rubles. The company gets the opportunity to create funds at the expense of the profit remaining at its disposal. So the net profit of the enterprise amounted to 485 thousand rubles. Retained profit of the reporting year of OJSC "Tekmash" amounted to 4.3% of the total volume of balance sheet profit - 25 thousand rubles.

The conducted research allows us to give some recommendations for improving the efficiency of the firm:

· To take measures for the timeliness of the receipt of funds for the sold products by taking an inventory of accounts receivable, identifying the reasons for its formation and maturity dates;

· Control over compliance with the terms of contracts;

· In connection with the increase in the cost of production, identify internal reserves for its reduction.

CONCLUSION

The result of the research on the chosen topic of the thesis is the substantiation of general conclusions and practical remarks, which can be summarized as follows.

1. Financial result - a generalized indicator of the analysis and assessment of the effectiveness (inefficiency) of an economic entity at certain stages (stages) of its formation. A matching synthetic account is opened in the organization's chart of accounts. 99 "Profit and loss", designed to identify the final financial result of the activities of any commercial organization. The purpose of their activities is to generate profit for its capitalization, business development, enrichment of owners, shareholders and employees.

The profit and loss account is linked to other synthetic accounting accounts that reflect the movement of an organization's income and expenses. So, on the account. 90 "Sales" the financial result from economic activity is formed, which is reflected in the financial statements f. No. 2 "Profit and Loss Statement" in two indicators: gross profit and profit from sales. If the gross profit is calculated as the difference between the sales proceeds (form No. 2, page 010) and the cost of goods sold (form No. 2, page 010), then the sales profit is formed as the difference between the sales proceeds (form No. 2, p. 010) and the total cost of goods sold (form No. 2, p. 020 + + p. 030 + p. 040), which includes the cost of goods sold, commercial and administrative expenses.

2. The financial result from all types of ordinary activities is expressed by two indicators: profit before tax (the difference between income and expenses from the main production, financial or investment activities) and profit after tax, which in the "Profit and Loss Statement" is called profit from ordinary activities and is the difference between profit before tax and income tax:

Operating since 2000 f. No. 2 "Profit and Loss Statement" and account data. 90 "Sales" and 91 "Other income and expenses" allow you to calculate the profit (loss) from ordinary activities both as a whole for the year and on a quarterly basis:

3. The final financial result of the organization is the net (retained) profit, which is formed on the account. 99 "Profit and Loss".

4. Net profit is the main indicator for declaring dividends to shareholders, as well as a source of funds allocated to increase the authorized and reserve capital, capitalization of the organization's profits. In the final entries of December of the reporting year, the net profit is transferred to the account. 84 "Retained earnings", which should be substantially equal to retained earnings, if the organization has not used, in exceptional cases, net profit to cover current expenses under on-farm programs during the year.

Net (retained) profit characterizes the real growth (build-up) of the organization's equity capital. In this regard, in the scientific and educational literature on financial analysis, the student, if desired, will find different definitions of the concept of "financial result", depending on which side of the activity in each case is considered. In general, a certain economic meaning is put into the concept of "financial result": either the excess (decrease) in the cost of the manufactured product over the cost of its production; or the excess of the cost of products sold over the total costs incurred in connection with its production and sale; or the excess of net (retained) profit over incurred losses, which ultimately is the financial and economic basis for the increase in the organization's equity capital. In addition, a positive financial result also testifies to the efficient and appropriate use of the organization's assets, its fixed and working capital.

5. Thus, the final financial result of the activities of a commercial organization of any organizational and legal form of business is expressed by the so-called accounting profit (loss), revealed during the reporting period on the basis of accounting of all its business operations and the assessment of balance sheet items according to the rules adopted in accordance with Regulations on the maintenance of accounting and financial reporting, approved by order of the Ministry of Finance of the Russian Federation of July 29, 1998 No. 34 n. According to this Regulation, the final financial result of the reporting period is reflected in the balance sheet as retained earnings (uncovered loss), i.e. the final financial result revealed for the reporting period, less taxes due from profits established in accordance with the legislation of the Russian Federation and other similar mandatory payments, including sanctions for non-compliance with tax rules.

As the object of the study, the company OJSC "Tekmash" was chosen, the main activity of which is the production of tableware, kitchen and other household items.

At the same time, the state of accounting work of OJSC "Tekmash" was recognized as satisfactory.

When assessing the composition, structure and dynamics of factors in the formation of financial results, it was revealed that the profit in the reporting year compared to the previous one increased by 1.04 times, while the profit from sales - by 3.1 times, the profit from financial and economic activities - 1.04 times. The growth in profit from sales and financial and economic activities was accompanied by an increase in proceeds from sales by 3.05 times; the cost of selling goods, works, services - 2.6 times.

Analysis of the factors affecting the change in profit (loss) from the sale of goods, works, services show that this organization has sufficient reserves to increase profits from the sale of products and, first of all, by reducing the production cost of sales, as well as by increasing the share in the volume of sales more cost-effective goods and products.

Performance indicators of implementation in the reporting year exceeded their qualitative characteristics in comparison with the previous year; the profitability of sales was 7.24%, the efficiency of sales was 6.7%, and the cost per 1 ruble of sales decreased from 1.07 kopecks to 0.93 kopecks.

Profit also has the potential to increase not only by mobilizing reserves for growth in profit from sales, but also by reducing costs.

The analysis of reserves for increasing profit showed that the largest amounts of reserves for the growth of balance sheet profit were found in a decrease in expenses, the share of which in the total volume is 1.4%, and in a decrease in the production cost of sales (82.2%).

The dynamics of the composition and structure of distribution of balance sheet profit show that in the reporting period retained earnings amounted to 4.3% of the total volume of balance sheet profit. 95.7% of the balance sheet profit was spent, of which 17.5% was income tax, 78.2% was diverted funds. The share of income tax in the balance sheet profit decreased in the reporting period from 27.2% to 17.5%.

The balance sheet profit generated in accordance with the currently established procedure, regulations and guidelines, is the basic value for calculating taxable profit. The elements of the formation of taxable profit amounted to 294 thousand rubles, or 59% of the balance sheet profit.

In general, the result from the ordinary course of business was the receipt of profit in the amount of RUB 588 thousand.

The above calculations clearly prove that this organization has sufficient reserves for increasing profits from the sale of products and, first of all, by reducing the production cost of sales, as well as by increasing the share in the volume of sales of more profitable goods and products.

LIST OF USED LITERATURE

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2. Federal Law No. 129-FZ "On Accounting", approved by the President of the Russian Federation on November 21, 1996.

3. Regulation on accounting and
financial statements in the Russian Federation (approved by the Order of the Ministry
Finance of the Russian Federation of 09.12.98, No. 60n (as amended by the Order of the Ministry of Finance of the Russian Federation
dated 30.12.1999 No. 107n)

4. Regulation on accounting 9/99 "Income
organizations "(approved by order of the Ministry of Finance of the Russian Federation dated 06.05.1999, No.
32n (as amended by the Orders of the Ministry of Finance of the Russian Federation dated 30.12.1999 No. 107n, dated 30.03.2001 No. 107n));

5. Regulation on accounting 10/99
"Expenses of the organization" (approved by the Order of the Ministry of Finance of the Russian Federation from
05/06/99 No. ЗЗн (as amended by the Orders of the Ministry of Finance of the Russian Federation of 12/30/1999
No. 107n, dated 30.03.2001 No. 27n));

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Introduction ................................................. ............................................ 4

Chapter 1. Theory of analysis of financial results at the enterprise ......................................... ....................................... 9

1.1. Tasks and objectives of the analysis of financial results ............... 9

1.2. Analysis of the composition and dynamics of balance sheet profit. Factors of its formation ............................................... ................................. eleven

1.3. Analysis of financial results from other activities. nineteen

1.4. Analysis of the profitability of the enterprise ............ 21

Chapter 2. Analysis of financial results of ONIX PLUS LLC ....................................... .................................................. .................... 24

2.1. Characteristics of the financial and economic activities of Onyx Plus LLC ........................................ .................................................. ............... 24

2.2. Analysis of the composition, dynamics and implementation of the balance sheet profit plan for the reporting year ...................................... ........................................... 27

2.3. Analysis of financial results from product sales. thirty

2.4. Analysis of the profitability of the activities of LLC "Onisk Plus". 37

2.5. Analysis of the distribution and use of the company's profits 46

Chapter 3. Reserves for increasing the profit and profitability of the enterprise. Conclusions and suggestions for improving the performance of Onyx Plus LLC 50

3.1. Reserves for increasing the profit and profitability of the enterprise 50

3.2. Conclusions and proposals for improving the financial results of the activities of LLC "Onyx Plus" ..................................... ........ 63

Conclusion................................................. ................................... 66

List of used literature ............................. 70

Appendix................................................. .................................. 73

Introduction

In this thesis, we have to consider the topic "Analysis of financial results at the enterprise" in as much detail as possible. In our opinion, this topic is very interesting to study and relevant.

The transition of the Russian economy to market relations and the related processes of the formation of a multi-structure economy based on different forms of ownership, the formation and development of the market infrastructure and its economic mechanism have radically changed the economic, informational and legal environment for the functioning of enterprises. These changes have affected all aspects of the activities of enterprises.

Enterprises received independence in management and running the economy, the right to dispose of resources and labor results and bear full economic responsibility for their decisions and actions. In such conditions, the well-being and commercial success of an enterprise depends entirely on how effective its activities are.

The transition to a market economy requires enterprises to improve production efficiency, competitiveness of products and services based on the implementation of achievements scientific and technological progress, effective forms management and production management, overcoming mismanagement, enhancing entrepreneurship, initiative, etc.

An important role in the implementation of this task is assigned to the analysis of the economic activities of enterprises. With its help, a strategy and tactics for the development of an enterprise are developed, plans and management decisions are substantiated, their implementation is monitored, reserves for increasing production efficiency are identified, the results of the enterprise, its divisions and employees are assessed. A qualified economist, financier, accountant, auditor must know well not only the general patterns and trends of economic development in the transition to market relations, but also subtly understand the manifestations of general, specific and private economic laws in the practice of his enterprise, timely notice trends and opportunities to improve efficiency production. He must possess modern methods of economic research, the method of systemic, comprehensive economic analysis, the skill of accurate, timely, comprehensive analysis of the results of economic activity.

The end financial result of the economic activity of the enterprise is profit.

An economic indicator characterizing the financial results of the economic activity of the enterprise;

Stimulating function, manifested in the process of its distribution and use;

One of the main sources of the formation of financial resources of the enterprise.

Profit is the main source of financing for the increase in working capital, renovation and expansion of production, social development of the enterprise, as well as the most important source of the formation of the revenue side of budgets of different levels.

In a market economy, the main goal entrepreneurial activity is the receipt of profit, an increase in the material interest of business participants in the results of financial and economic activities. Profit maximization in this regard is the primary task of the enterprise. By the amount of profit in production activities influenced by factors of a subjective nature and objective, independent of the activities of the economic object.

Subjective factors: the organizational and technical level of business management, the competitiveness of products, the level of labor productivity, the cost of manufacturing and selling products, the level of prices for finished products.

Objective factors: the level of prices for consumed materials and energy resources, depreciation rates, market conditions.

The purpose of writing this thesis is to identify reserves for increasing profits and profitability based on an analysis of the financial results of the enterprise and the proposal of measures aimed at improving financial and economic activities and, accordingly, financial results.

To achieve this goal, it is necessary to solve the following tasks:

1. Consider the theoretical aspects of the analysis of the financial results of the enterprise, namely, to outline the tasks, sequence and method of analysis;
2. Show the application of the stated method in practice, namely, consider it using the example of the activity of the production enterprise LLC "Onyx Plus". Analyze the formation, dynamics and implementation of the profit plan, calculate profitability indicators, carry out a factor analysis of profit and profitability.
3. On the basis of the analysis, identify the existing reserves for increasing profits and profitability, develop and propose a set of measures aimed at using the identified reserves.

The order of tasks set by us will fully correspond to the structure of work.

To write this thesis, we will use both the works of foreign authors and domestic ones (V.V. Kovalev, G.V. Savitskaya, N.A. Rusak, etc.), who have very interesting developments that take into account our reality.

Chapter 1. Theory of analysis of financial results at the enterprise

1.1. Tasks and objectives of the analysis of financial results

The financial results of the enterprise are characterized by the amount of profit and the level of profitability.

Profit is the real part of the net income created by surplus labor. Only after the sale of the product (works, services) does the net income take the form of profit. The amount of profit is determined as the difference between the proceeds from the economic activity of the enterprise (after payment of value added tax, excise tax and other deductions from proceeds to budgetary and non-budgetary funds) and the sum of all costs for this activity.

Making a profit is the main goal of any business entity. On the one hand, profit is an indicator of the efficiency of an enterprise, since it mainly depends on the quality of the enterprise, increases the economic interest of its employees in the most efficient use of resources, because profit is the main source of industrial and social development of the enterprise. On the other hand, it serves as the most important source for the formation of the state budget. Thus, both the enterprise and the state are interested in the growth of the amount of profit.

Profitability is one of the main cost quality indicators of the enterprise's performance, characterizing the level of return on costs and the degree of use of funds in the process of production and sale of products (works, services). Profitability indicators are expressed in ratios or percentages and reflect the share of profit from each monetary unit of costs. Thus, more fully than the profit characterize the final results of management, tk. their value shows the ratio of the effect to the available or used resources.

The amount of profit and the level of profitability depend on the production, sales and commercial activities enterprises, i.e. these indicators characterize all aspects of management.

The main objectives of the analysis of financial performance are:

Control over the implementation of plans for the sale of products and profit, the study of dynamics;

Determination of the influence of both objective and subjective factors on the formation of financial results;

Identification of reserves for profit growth;

Evaluation of the company's work on the use of opportunities to increase profits and profitability;

Development of measures for the use of identified reserves.

The main purpose of financial analysis is to develop and make informed management decisions aimed at improving the efficiency of an economic entity.

1.2. Analysis of the composition and dynamics of balance sheet profit. Factors of its formation

The analysis uses the following profit indicators: balance sheet profit, (works, services), profit from other sales, non-operating results (income and expenses from non-operating transactions), taxable profit, net profit.

Balance sheet profit is the portion of the balance sheet profit that serves as the basis for calculating the tax to be paid to the budget.

Net profit is the profit that remains at the disposal of the enterprise after all taxes, economic sanctions and contributions to charitable foundations have been paid.

In the process of analysis, the composition of the balance sheet profit, its structure, dynamics and implementation of the plan for the analyzed period are determined. When studying the dynamics and implementation of the plan of balance sheet profit, the comparison method is used: comparison of the indicators of the reporting period with the previous one in the first case and comparing the actual indicators of the reporting period with the planned ones.

When studying the dynamics of indicators, inflationary processes should be taken into account. The comparability of indicators is ensured by recalculation to the price index. The price growth index is determined by the formula:

where K i - production output in the analyzed period in natural units of measurement;

Ts i - the price of a unit of production in the analyzed period;

C about - the price of a unit of production in the base period;

The change in the balance sheet profit is influenced by many factors. The factors of the first, second and third orders can be measured quantitatively.

First-order factors include changes:

1) profit from the sale of products (goods, works, services);

2) profits from other sales;

3) non-operating financial results.

In turn, the profit from the sale of products (goods, works, services) depends on the following factors:

1) the volume of products sold;

2) the structure of products sold;

3) full cost of goods sold;

4) prices for products sold.

These factors are referred to as factors of the second order of the balance sheet profit.

The factors of the three levels are shown in more detail and clearly in Fig. 1.

The relationship of factors of the first and second orders with the balance sheet profit is direct, with the exception of the cost price, a decrease in which leads to an increase in profit.

When calculating the influence of factors of the first order on the balance sheet profit, we use the additive factor model:

where PB - balance sheet profit;

ПР - profit from the sale of goods;

PP - profit from other sales;

BP - non-operating results.

The quantitative change of each factor is equal to the influence of this factor on the change in the balance sheet profit.

To calculate the influence of factors on which the profit from the sale of products (goods, works, services) depends, such as the volume of sales of products, its total cost and average selling prices, the method of valuable substitutions or the method of absolute differences is often used.

Fig. 1. Structural and logical diagram of the factorial system of balance sheet profit.

Profit from the sale of homogeneous products is calculated by the formula:

where P is the profit from the sale of products;

V is the volume (quantity) of products sold;

C - the selling price of a unit of production;

С - unit cost.

We use this formula as a factor model for determining factor analysis.

The method of chain substitutions makes it possible to determine the influence of individual factors on the change in the value of the effective indicator by gradually replacing the base value of each factorial indicator in the volume of the effective indicator with the actual one in the reporting period. For this purpose, a number of conditional values ​​of the effective indicator are determined, which take into account the change in one, then two, three, etc. factors, assuming that the rest do not change. Comparison of the value of the effective indicator before and after the change in the level of one or another factor makes it possible to eliminate from the influence of all factors, except for one, and to determine the impact of the latter on the increase in the effective indicator.

Algorithm for calculating by the method of chain substitution for the factor model (1.3.):

Planned (base) profit value;

The first conditional profit indicator, showing what value the profit would have given the actual volume of sales of products and the planned price and planned cost;

The second conditional indicator, reflecting the amount of profit at the actual volume of sales and the actual price, but at the planned cost of production;

Actual profit margin.

Total change in profit:

Including due to:

1) change in the volume of sales of products:

2) change in the average selling price of products:

3) change in the cost of production:

The algebraic sum of the influence of all factors must necessarily be equal to the total increase in the effective indicator:

The lack of such equality indicates the errors made in the calculations.

Methodology for calculating the influence of factors by the method of absolute differences:

1) In the factor model, instead of the value of the sales volume, we substitute its deviation and calculate the effect of the volume change on the profit growth:

2) The product of the price deviation by the volume of product sales shows the change in the amount of profit due to the price change:

3) The product of the deviation of the cost of production by the volume of its sales, taken with the opposite sign, shows the effect of the deviation of the cost on the change in profit:

Here, too, the sum of the influence of the factors should be equal to the total deviation of profit:

If an enterprise produces heterogeneous types of products, then a structural factor is added to the above factors. The influence of the structural factor on the change in profit can be calculated by accepting absolute differences using the factor model:

where UD f i, UD pl i - respectively, the actual and planned share of the i-th type of product in the total sales,%;

P 1 pl i - the planned amount of profit per unit of the i-th type of product;

V f - the actual total volume of products sold in conditional physical terms.

Also, to calculate the influence of the structural factor on the change in the total amount of profit, you can use the model:

where R pl i - planned profitability i-th type of product (the ratio of the amount of profit to the total cost of goods sold).

After calculating the influence of all these factors on the change in profit, one should study the reasons for the change in the volume of sales, prices and costs for each type of product.

1.3. Analysis of financial results from other activities

The source of profit, along with the sale of products (goods, works, services), can also be the activities of an enterprise that are not related to the sale of products. This is the profit from equity participation in joint ventures; profit from the lease of land and fixed assets; received and paid penalties, fines, penalties; losses from writing off bad accounts receivable for which the limitation period has expired; income from shares, bonds, deposits; income and losses from foreign exchange transactions; profits (losses) of previous years revealed in the current year; financial aid from other organizations; losses from natural disasters, etc.

The analysis comes down mainly to the study of the dynamics and reasons for the resulting losses and profits for each specific case.

Losses from the payment of fines arise in connection with the violation of contracts with other enterprises, organizations and institutions. The analysis identifies the reasons for non-fulfillment of obligations, and takes measures to prevent mistakes.

A change in the amount of fines received may occur not only as a result of violation of contractual obligations by suppliers and contractors, but also due to the weakening of financial control on the part of the enterprise in relation to them. Therefore, when analyzing this indicator, it should be checked whether the appropriate sanctions were imposed on suppliers in all cases of breach of contractual obligations.

Losses from the write-off of bad accounts receivable usually arise in those enterprises where the setting of accounting and control over the state of settlements is at a low level. Profits (losses) of previous years, revealed in the reporting year, also testify to deficiencies in accounting.

Profits from securities (stocks, bonds, bills, etc.) deserve special attention. Enterprises - holders of securities receive certain income in the form of dividends in the process of analysis, the dynamics of dividends, stock prices, net profit per share are studied, the rates of their growth and decline are established.

The amount of dividends received depends on the number of acquired shares and the level of dividend per share, the amount of which is determined by the level of profitability of the joint-stock company, tax and depreciation policy state, the level of interest rates for a loan, etc. insufficiently high level of qualifications of economic personnel, lack of knowledge of the laws of the market, inability to assess the conjunction of market laws can bring large losses to the company. When assessing the results of financial activities, inter-farm comparisons and the study of the experience of other enterprises in the securities market can be of great benefit.

At the end of the analysis, specific measures are developed to prevent and reduce losses and losses from non-operating transactions.

1.4. Analysis of the profitability of the enterprise

Profitability indicators characterize the efficiency of the enterprise as a whole, the profitability of various areas of activity (production, business, investment), cost recovery, etc. They are used to assess the performance of enterprises and as a tool in investment policy and pricing.

Profitability indicators can be grouped into several groups:

1) indicators characterizing the profitability (payback) of production costs and investment projects;

2) indicators characterizing the profitability of sales;

3) indicators characterizing the return on capital and its parts.

All these indicators can be calculated on the basis of balance sheet profit, profit from product sales and net profit.

The profitability of production activities (recoupment of costs) is calculated as the ratio of gross or net profit to the sum of costs for products sold or manufactured:

where R s - profitability of production activity (cost recovery);

P VP - gross profit from product sales;

PE - net profit;

And - the amount of costs.

It shows how much the company has profit from each ruble spent on the production and sale of products. It can be calculated as a whole for the enterprise, individual departments and types of products.

The payback of investment projects is determined in a similar way: the received or expected amount of profit from the project is related to the amount of investment in this project.

The profitability of sales is calculated by dividing the profit from the sale of products (goods, works, services) by the amount of proceeds received. It characterizes the profitability of sales per ruble of sales.

B - sales proceeds.

The return on capital (profitability) is calculated as the ratio of net profit to the average annual cost of all invested capital or its individual components; own, borrowed, basic, circulating, etc.

When calculating the return on equity, it is necessary to take the average amount of capital for the reporting period, however, in conditions of inflation, more realistic estimates can be obtained using the instantaneous values ​​of these indicators.

Chapter 2. Analysis of financial results of ONIX PLUS LLC

Having considered the theoretical aspects of the topic "Analysis of financial results at the enterprise", we will proceed directly to the analysis of the financial results of a particular enterprise, namely LLC "Onyx Plus"

2.1. Characteristics of the financial and economic activities of Onyx Plus LLC

The main activity of Onyx Plus LLC is the production and sale of woodworking products: lumber (carriages, edged and unedged boards, etc.), as well as wood products (window frames, doors, door blocks, skirting boards, platbands, etc.).

The purpose of Onyx Plus LLC activities is to manufacture these products and meet the existing demand for them in the market of Tver and the Tver region and, accordingly, make a profit in the process of this activity.

The production company "Onyx Plus" is a limited liability company (LLC). LLC is the organizational and legal form of an enterprise. An LLC is understood as an association of citizens and (or) legal entities for joint economic activities, having a charter capital, divided into shares, the size of which is determined by the constituent documents, and responsible for obligations only within the limits of their property. The members of the LLC are liable to the extent of their contributions.

Onyx Plus LLC has a charter capital of 713 thousand rubles. The property of a limited liability company is formed from the contributions of the participants, income received and other legal sources, and belongs to its participants on the basis of shared ownership. The number of members of Onyx Plus LLC is 19 individuals.

The supreme governing body of Onyx Plus LLC is the meeting of participants. His competence includes issues of determining the main directions of entrepreneurial activity, consideration and approval of estimates, reports and balances, election and recall of the executive body and the audit commission, determination of the terms of remuneration of officials, distribution of profits and determination of the procedure for covering losses, etc.

The executive body of Onyx Plus LLC is the director. He is responsible for the development and implementation of goals, policies and strategies for achieving them, as well as organization and management. current activities firms, property management, hiring and firing personnel.

In 1999, the average number of employees of Onyx Plus LLC was 62 people.

Including:

Management staff - 3 people;

Specialists - 3 people;

Production workers - 51 people;

Service staff - 5 people.

In the previous year, 1998, the company had 60 employees.

LLC "Onyx Plus" produces a wide range of woodworking products, containing more than twenty items. Prices for manufactured products of Onyx Plus LLC are similar to those of competing firms.

Table 1.

Main indicators of the financial and economic activity of Onyx Plus LLC for 1999, thousand rubles

The main sources of information for the analysis of the financial results of the activity of the enterprise in question are the documents of the financial statements: Form No. 1 "Balance Sheet" (Appendix 1); Form No. 2 "Profit and Loss Statement" (Appendix 2); Form No. 5 "Appendix to the Balance Sheet"; as well as a survey of Onyx Plus specialists.

It should be noted here that the collection of information on the activities of the enterprise presents certain difficulties, since specialists, fearing leakage of confidential information, are reluctant to make contact.

The company under consideration regularly conducts internal analysis of financial and economic activities, however, both the results and some initial data of this analysis were not disclosed, since the management of Onyx Plus LLC classifies this information as a commercial secret.

2.2. Analysis of the composition, dynamics and implementation of the balance sheet profit plan for the reporting year

Let's consider the structure of the balance sheet profit of LLC "Onyx Plus" for 1999, trace its dynamics, comparing with the indicators of the previous year, and also evaluate the fulfillment of the plan for balance sheet profit.

As the data given in table 2 show, the plan for the balance sheet profit was exceeded by 10.21%.

Table 2.

Analysis of the composition, dynamics and fulfillment of the plan of the balance sheet profit of LLC "Onyx Plus".

Composition of balance sheet profit	1998 year		1999 year				The actual amount of profit in comparable prices in 1998, thousand rubles
	Amount, thousand rubles	Structure,%	Plan		fact
			Amount, thousand rubles	Structure,%	Amount, thousand rubles	Structure,%
Balance sheet profit
Profit from product sales
Profit from other sales
Non-operational results

Compared to the previous year, the growth rate of the balance sheet profit amounted to 391.66%, however, inflationary processes had a significant impact here, since in comparable prices (in prices of the base year - 1998) the growth rate was 173.09%. Such a significant increase is a positive trend.

The largest share in the structure of balance sheet profit is profit from the sale of commercial products - 96.29%.

The share of non-operating results was only 3.71% of the balance sheet profit.

This is a reflection of the fact that the company is engaged only in the main activity - the production and sale of woodworking products and is not engaged in non-sales activities, namely, does not have a share in other enterprises, does not have securities, is not a lessor of fixed assets, etc.

2.3. Analysis of financial results from product sales

The main part of the profit is received by Onyx Plus LLC through the sale of marketable products. The plan for the amount of profit from the sale of commercial products for 1999 was exceeded by 22.66 thousand rubles. , or 6.12%. Compared to the previous year, the amount of profit increased by 314.06 thousand rubles. , or 399.57%.

Profit from the sale of marketable products depends on four factors of the first order: the volume of sales of products; its structure; cost price and level of average selling prices. The same factors are second-order factors in relation to the balance sheet profit.

It should be noted here that we analyze the results of the enterprise's activities for 1998 and 1999. After August 1998, product prices increased significantly as a result of inflation. The price index for products in 1998 was 1.8 (this index was calculated by the accountant of the enterprise we are considering). There was an increase in the cost of a conventional unit of production by 1.7 times due to inflation. In our opinion, the factor analysis showing due to what factors and by how much the amount of profit changed in 1999 compared to 1998 is of undoubted interest.

The initial data required to calculate the influence of these factors on the amount of profit are placed in table 3.

Table 3.

Comparing the amount of profit of the previous year and the conditional one, calculated based on the actual volume and range of products of the reporting year, but at the prices and cost of the base (previous) year, we find out how much it changed due to the volume and structure of products sold (DП (V, p. .):

To find the effect of sales only, we multiply the amount of the base year profit by the percentage of the increase in the sales volume in terms of cost or in conditional terms and divide the result by 100.

The increase in sales volume amounted to:

The influence of sales volume on the amount of profit (DП (V)):

Let's define the influence of the structural factor (DP (p.)):

The impact of changes in the total cost on the amount of profit (DП (С)) is established by comparing the actual cost of goods sold in the reporting year with a conditional indicator calculated in base year prices:

The change in the amount of profit due to the selling prices for products (DP (C)) is established by comparing the actual revenue of the reporting year with the conditional one that the company would have received for the actual volume of sales at the prices of the base period:

Total change in the amount of profit:

thousand roubles.,

including due to changes:

1) sales volume, thousand rubles;

2) the structure of marketable products, thousand rubles;

3) full cost, thousand rubles;

4) sales prices, thousand rubles.

This analysis We will also carry out the method of valuable substitutions, successively replacing the planned value of each factor with the actual one. The calculation algorithm is presented in Table 5.

Table 4.

Initial data for factor analysis of profit from the sale of commercial products, thousand rubles

Table 5.

Calculation of the influence of factors on the change in the amount of profit from the sale of products.

Indicator	Terms of calculation				Calculation algorithm
	Volume of sales	Structure of marketable products	Price	Cost price
					In pl - S pl
					P pl * K rp
					In conv - With conv
					V f - P conv

where V pl, V f, V conv - proceeds from sales without VAT, respectively, planned, actual and conditional;

S pl, S f, S conv - cost price;

P - profit;

K rp - the percentage of the plan for the number of products sold.

1. P pl = 370 thousand. rub.
2. Let's find the amount of profit with the actual volume of the remaining factors. To do this, we calculate the percentage of the plan for the sale of products (K pr) and adjust the planned amount of profit by this percentage:

1. thousand roubles.
2. thousand roubles.
3. thousand roubles.
4. thousand roubles.

Change in the amount of profit due to:

Sales volume:

thousand roubles.;

Commodity product structures:

Average selling prices:

thousand roubles.;

Cost of products sold:

Balance of factors:

The calculation results show that the profit plan was overfulfilled to a greater extent due to a change in the structure of products (by 13.6 thousand rubles), and an increase in the volume of sales of products contributed to an increase in the amount of profit by 7.4 thousand rubles. The increase in sales prices led to an increase in the amount of profit by 4.3 thousand rubles.

An increase in the total cost of production had a negative impact on the change in the amount of profit, due to this factor, the profit decreased by 2.64 thousand rubles.

Such results of factor analysis show that the management of the enterprise pays great influence to the structure of the products, namely, seeks to increase the share of more profitable products. Thus, finished wood products such as doors, frames, door blocks are more profitable products than raw sawn timber.

It should also be noted here that the positive effect of the increase in sales prices and an increase in the volume of products significantly overlaps the negative effect of an increase in production costs. This also positively characterizes the activities of the enterprise.

2.4. Analysis of the profitability of the activities of LLC "Onisk Plus"

To analyze the profitability of Onyx Plus LLC, the data presented in Table 6 are required.

To calculate the return on equity indicators, it is preferable to take the average amount of capital. So, equity capital at the beginning of the year was 828.42 thousand rubles, and at the end of the year - 1059.9 thousand rubles. The average amount of capital used in the ROI formula will be:

However, in conditions of inflation, more realistic estimates can be obtained using the momentary values ​​of capital indicators. For this reason, and also due to the lack of information on the amount of capital at the beginning of 1998, we used the one-time value of capital for 1998 - at the end of the year.

Table 6.

Initial data for the analysis of the profitability of the enterprise.

Indicator	1998 year thousand roubles.	1999 g., thousand roubles.
Revenue from the sale of marketable products
Production and marketing costs
Profit from product sales
Balance sheet profit
Income tax
Net profit
Equity
Fixed assets
The entire capital of the enterprise

Let's calculate the profitability indicators:

1) Return on sales

where R p is the profitability of sales;

П рп - profit from product sales;

В - proceeds from the sale of products.

In the analyzed period (1999):

In the previous period (1998):

Thus, if in 1998 the enterprise received a profit of 4.09 kopecks from each ruble of products sold, then in 1999 this figure increased 2.67 times and amounted to 10.9 kopecks.

2) Profitability of production activities (cost recovery):

where And - the cost of production and marketing of products.

It follows that each ruble of production and marketing costs in 1999 brought the enterprise a profit of 12.23 kopecks, which is 2.87 times more than in the previous year.

3) the profitability (profitability) of the entire capital of the enterprise (R K):

where PE is the net profit;

B (cf.) - balance sheet total (average).

In 1999, the company's net profit amounted to 13.7% of the average annual value of all invested capital. In 1998, the share of net profit was 3.48% of the total capital at the end of the year.

4) Return on non-current assets (R F):

where F (cf.) is the average cost of non-current assets.

For every ruble invested in non-current assets, there are 85.19 kopecks. net profit, which is 3.62 times more than in the previous year.

5) Return on equity (R sk):

where SK is the equity capital of the enterprise.

The efficiency of using the company's own funds in 1999 increased in comparison with the previous year by 4.34 times.

These profitability indicators depend on many factors. Here we will give a factor analysis of the level of profitability of the production activity of the enterprise.

Table 7.

Profitability indicators of LLC "Onyx Plus".

The level of profitability of production activities (cost recovery) depends on three main factors of the first order: changes in the structure of products sold, their cost and average selling prices.

The factor model of this indicator is as follows:

where V рп total - the total volume of products sold;

UD i - the share of the i-th type of product in the total volume;

Ц i - the selling price of the i-th type of product;

With i - the cost of the i-th type of product.

The calculation of the influence of factors of the first order on the change in the level of profitability as a whole for the enterprise is carried out using the method of chain substitutions, using the data in Table 3 .:

(sales volume growth 2.36%)

Comparing the calculated conditional and actual indicators, we calculate the influence of the factors:

Balance of factors:

Let's summarize the obtained data in a table (see table 8.)

Table 8.

The influence of factors on the profitability of the production activity of the enterprise.

The results obtained show that the increase in the profitability of production activities occurred due to an increase in average selling prices and changes in the structure of marketable products. The growth in production costs had a negative impact on the level of profitability. It should be noted here that both the increase in prices and the growth in the cost of marketable products are a consequence of inflationary processes, however, the growth rate of sales prices outstrips the growth rate of production costs, and this advance has a positive effect on the change in profitability (+ 4.9%).

2.5. Analysis of the distribution and use of enterprise profits

Profit is a source of financing for different economic needs. When it is distributed, the interests of both society as a whole, represented by the state, and the entrepreneurial interests of the founders of the enterprise and the interests of individual employees intersect. The distribution object is gross profit. Legally, the distribution of profits is implemented in the part that goes to the Federal budget and the budgets of the constituent entities of the Federation in the form of taxes and other obligatory payments. The distribution of the remaining part of the profit is the prerogative of the enterprise, it is regulated by the internal documents of the enterprise and is recorded in its accounting policy. The distribution of profits is based on the following principles:

1) priority fulfillment of obligations to the budget;

2) the profit remaining at the disposal of the enterprise is allocated to accumulation and consumption.

The mechanism of the influence of finance on the efficiency of the economy depends on the nature of distribution relations, the specific forms and methods of their organization, and their correspondence to the level of the productive forces of production relations. The reference point for establishing the relationship between accumulation and consumption should be the state of production assets and the competitiveness of products. In the process of distribution of net profit, the company has the right to independently determine the method of distribution of net profit.

The distribution of the net profit of Onyx Plus LLC is carried out through the formation of special funds: an accumulation fund, a consumption fund and a reserve fund.

The accumulation fund of Onyx Plus LLC is used for design and technological work, the development and development of new types of products, technological processes, for financing the costs associated with technical re-equipment and reconstruction of production, environmental protection measures. This also includes the cost of repaying long-term loans and paying interest on them, paying interest on short-term loans in excess of the amounts attributed to the cost of production, financing the increase in working capital.

The consumption fund of the analyzed enterprise is used for social development and social needs. At the expense of it, the construction of non-production facilities is financed, bonuses are paid for the fulfillment of especially important production tasks, the provision of material assistance, etc.

As can be seen from table 9., more than 50% of the net profit remained undistributed. The share of contributions to the accumulation fund is 39.67% of net profit, which allows us to conclude that the management of Onyx Plus LLC plans to expand production, namely, to increase fixed and circulating assets, to master new types of products.

Table 9.

Profit distribution of Onyx Plus LLC.

Indicator	Amount, thousand rubles
Balance sheet profit
Income tax
Securities income tax
Profit remaining at the disposal of the enterprise
Economic sanctions
Contributions to charity funds
Net profit
Distribution of net profit: To the reserve fund To the accumulation fund To the consumption fund Undestributed profits
Share of net profit,% To the reserve fund To the accumulation fund To the consumption fund In retained earnings

A small share (5.9%) of contributions to the consumption fund shows that in the plans of the management of the enterprise in question in short term does not include significant development of the social sphere of the enterprise.

Chapter 3. Reserves for increasing the profit and profitability of the enterprise. Conclusions and suggestions for improving the performance of Onyx Plus LLC

3.1. Reserves for increasing the profit and profitability of the enterprise

In this chapter of our thesis, we will consider the reserves for increasing the amount of profit of the manufacturing company "Onyx Plus".

Reserves for profit growth are quantitatively measurable opportunities for its increase due to an increase in the volume of sales of products, a decrease in costs for its production and sale, avoidance of losses outside of sales, and improvement of the structure of products. Reserves are identified at the planning stage and in the process of implementing plans. Determination of the reserves for profit growth is based on a scientifically grounded methodology for their calculation, mobilization and implementation. There are three stages of this work: analytical, organizational and functional.

At the first stage, reserves are allocated and quantified; on the second, a complex of engineering, technical, organizational, economic and social measures is being developed to ensure the use of the identified reserves; at the third stage, they practically implement the activities and monitor their implementation.

When calculating the reserves for profit growth due to possible growth sales volume uses the results of the analysis of production and sales of products.

The amount of the reserve for profit growth due to an increase in the volume of production is calculated by the formula:

where: - the reserve for profit growth due to an increase in the volume of production;

P i - the planned amount of profit per unit of the i-th product;

RP ki - the number of additionally sold products in natural units.

If the profit is calculated per ruble of marketable products, the amount of the reserve for its growth by increasing the volume of sales is determined by the formula:

where: PV - a possible increase in the volume of products sold, rubles;

P is the actual profit from the sale of products, rubles;

V is the actual volume of products sold, rubles.

Comparison of potential sales based on results marketing research, with the production capabilities of the enterprise, allows us to predict an increase in the volume of production and sales of products of LLC "Onyx Plus" by 5% next year.

Let us calculate the reserve for increasing profits by increasing the volume of production and sales of products of LLC "Onyx Plus" according to the formula (3.2).

PV = 3603.1 thousand rubles. * 5% = 180.155 thousand rubles.

P = 392.66 thousand rubles.

V = 3603.1 thousand rubles.

Thus, having increased the volume of production by 5%, the enterprise under consideration will increase its profit by 19.633 thousand rubles.

An important direction in the search for reserves for profit growth is to reduce the costs of manufacturing and selling products, for example, raw materials, materials, fuel, energy, depreciation of fixed assets and other costs.

The comparison method can be used to identify and calculate reserves for profit growth due to cost reduction. In this case, for a quantitative assessment of reserves, it is very important to choose the right comparison base. Such a base can be the levels of use of certain types of production resources: planned and normative: achieved at advanced enterprises: the basic actually achieved average level for the industry as a whole: actually achieved at the advanced enterprises of foreign countries.

The methodological basis for the economic assessment of reserves for reducing the costs of materialized labor is a system of progressive technical and economic norms and standards for the types of costs of raw materials, materials, fuel and energy resources, standards for the use of production capacities, specific capital investments, norms and standards in equipment, etc.

With the comparative method of quantitative measurement of reserves, their value is determined by comparing the achieved level of costs with their potential value:

where: - the reserve for reducing the cost of production due to the i-th type of resources;

- the actual level of use of the i-th type of production resources;

- the potential level of use of the i-th type of production resources.

A generalizing quantitative assessment of the total amount of the reserve for reducing the cost of production is made by summing up their value for certain types of resources:

where: - the total amount of the reserve for reducing the cost of production;

The reserve for reducing the cost of the i-th type of production resources.

If the analysis of profit is preceded by an analysis of the cost of production and the total amount of the reserve for its reduction is determined, then the calculation of the reserve for profit growth is made according to the formula:

where: - the reserve for increasing profits by reducing the cost of production;

Possible cost reduction per ruble of production;

V is the actual volume of products sold for the period under study;

PV - a possible increase in the volume of sales of products.

The costs of production and sales of manufactured products as a whole and by item for the reporting year (actually and according to the plan), as well as for the previous year, are presented in Table 10.

Table 10.

The cost of production and sales of products.

Expenditures	1998 thousand rubles	1999 thousand rubles
		plan	fact
Raw materials and supplies
Depreciation of fixed assets
Administrative expenses
Business expenses

In order to bring the costs of production and sale of products by items into comparable values, we recalculate them per 1 ruble of manufactured and sold products, using the formula:

Table 11.

Costs per ruble of marketable products.

Expenditures	1998 thousand rubles	1999 thousand rubles
		plan	fact
Raw materials and supplies
Transportation and procurement costs
Wages of production workers (basic and additional)
Depreciation of fixed assets
Other production costs
Production cost of products
Administrative expenses
Business expenses
Full cost of production

As the data in Table 11 show, there are reserves for reducing the cost of production by reducing management and commercial costs.

A possible reduction in costs per ruble of marketable products is equal to:

Costs per ruble of marketable products in 1999 amounted to 0.891 rubles. reduction of this amount by 0.03 rubles. will increase the amount of profit. Let's calculate the reserve for increasing the amount of profit by reducing the cost:

And this, in turn, will increase the profitability of sales.

Actual return on sales in 1999 was:

Possible profitability of sales with a decrease of 0.03 rubles. costs per ruble of products sold will be:

Improvement in the quality of marketable products is a significant reserve for profit growth.

The considered enterprise LLC "Onyx Plus" produces products of the 1st and 2nd grade. The specificity of the manufactured products, namely woodworking products, is such that the quality does not always completely depend on the manufacturer. Often the quality of products depends on the quality of the raw materials. However, compliance technological discipline control over the operation of equipment and its timely adjustment, storage conditions and transportation of raw materials and finished products are the most important factors in improving the quality of marketable products.

The reserve for increasing profits due to quality improvement is usually determined as follows: the change in the share of each grade is multiplied by the selling price of the corresponding grade, the results are summed up, and the resulting change in the average price is multiplied by the possible volume of product sales:

where: - a reserve for increasing profits by increasing the quality of products;

UD i- the share of the i-th type of product in the total volume of sales;

C i- selling price of the i-th type of product;

V- the actual volume of sales of products in the analyzed period;

PV - possible increase in the volume of sales.

In 1999, 1st grade products in the total sales volume of Onyx Plus LLC products accounted for 65%, 2nd grade products - 35%.

The selling price of II-grade woodworking products is 20% lower than the price of I-grade products (i.e. = 100%; = 80%).

The enterprise has the ability to change the structure of products in the following way: increase the share of 1st grade products by 5% and reduce the share of 2nd grade products by the same amount.

We calculate the reserve for increasing profit due to such a change in the structure

Table 12.

Calculation of the reserve for profit growth by improving product quality.

The average selling price of a conventional unit increased by 1 conventional monetary unit.

Let's calculate what 1 conventional monetary unit is equal to.

We will take the entire volume of production as 100 conventional units of quantity, then the actual volume of production of the 1st grade will be equal to 65 conventional units of quantity, - of the 2nd grade - 35 conventional units of quantity.

The amount of proceeds from sales can be expressed in conventional units and presented as an amount:

conv. den. units

At the same time, proceeds from the sale of products, taking into account a possible increase in the volume of production and sales of products, is 3783.255 thousand rubles.

Then 9300 conv. den units = 3783.255 thousand rubles.

Hence, 1 conv. den units = 0,4068 thousand roubles.

So, in connection with an increase in the share of 1st grade products by 5% and a decrease in the share of 2nd grade products, the average price increases by 0.4068 thousand rubles. for a conventional unit of quantity, and the amount of profit for a possible sales volume increases by 40.68 thousand rubles.

Let's summarize all the revealed reserves of profit growth (Table 13).

Table 13.

Generalized reserves for increasing the amount of profit.

The main sources of reserves for increasing the level of profitability of products is an increase in the amount of profit from the sale of products, a decrease in the cost of marketable products. To calculate the reserves for increasing the profitability of sales, the following formula can be used:

where: - reserve for profitability growth;

Possible profitability;

Actual profitability;

The actual amount of profit;

Profit growth reserve from product sales;

Possible cost of production, taking into account the identified reserves;

Actual cost of goods sold.

Possible cost per ruble of marketable products:

0.8910 - 00.03 = 0.861 rubles.

We multiply this amount of costs by the possible volume of marketable products expressed in sales prices (3783.255 thousand rubles), we get the value of the amount of the possible cost:

Having calculated all the known data in the formula (3.8), we calculate the reserve for increasing the profitability of the production activity of Onyx Plus LLC due to the above factors:

Thus, with an increase in production and sales of products by 5%, a decrease by 0.03 rubles. costs per ruble of marketable products, an increase of 5% in the share of 1st grade products in the total volume of products sold, Onyx Plus LLC will receive additional profit in the amount of 173,813 thousand rubles. and will increase the profitability of production (cost recovery) by 5.16%.

3.2. Conclusions and suggestions for improving the financial results of Onyx Plus LLC

Based on the analysis of the reserve for increasing profits and profitability of the enterprise, carried out in the previous paragraph of this chapter, here we can conclude that the company in question has the following reserves for increasing profits:

Increase in the volume of production and sales of products;

Reducing the cost of manufactured products;

Improving the quality of products.

We also consider it necessary to make a number of proposals to improve the financial results of Onyx Plus LLC, which can be applied both in the short and medium term, and in the long term:

Consider and eliminate the causes of overspending of financial resources for administrative and commercial expenses;

Improve enterprise management, namely:

Allocate cost centers and responsibility centers as part of the structural divisions and structural units of the enterprise;

Enterprise implementation of the system management accounting costs in the context of responsibility centers, cost centers and individual groups of commodity products;

To increase the share of small-scale wholesale products in the sales structure;

Carry out a timely markdown of products that have lost their original quality;

Implement an effective pricing policy, differentiated in relation to certain categories of buyers;

Carry out systematic control over the operation of the equipment and carry out its timely adjustment in order to prevent a decrease in quality and the release of defective products;

When commissioning new equipment, pay enough attention to education and training of personnel, improving their qualifications, for the effective use of equipment and preventing its breakdown due to low qualifications;

Improving the qualifications of employees, accompanied by an increase in labor productivity;

To develop and introduce an effective system of material incentives for personnel, closely linked to the main results of the economic activity of the enterprise and the economy of resources;

Use the system of depriving employees in case of violation of either labor or technological discipline;

Develop and implement measures aimed at improving the material climate in the team, which ultimately will affect the increase in labor productivity;

Carry out constant control over the conditions of storage and transportation of raw materials and finished products.

Conclusion

The search for reserves for increasing the efficiency of using all types of available resources is one of the most important tasks of any production. It is only possible to identify and practically use these reserves with the help of a thorough financial and economic analysis.

Analysis of the financial results of the enterprise is an integral part of the financial and economic analysis. The main indicators characterizing the efficiency of the enterprise are profit and profitability.

As the analysis of the financial results of the production enterprise LLC "Onyx Plus" has shown, this enterprise is successfully operating in the market of the city of Tver and the Tver region, it is competitive, and in the period under review it also improved its financial results.

The balance sheet profit in the reporting year increased by 39155% compared to the previous year, in comparable prices this increase was 173.09%. The plan for the balance sheet profit was exceeded by 10.21%.

The main income of the company comes from the production and sale of woodworking products. The share of profit from sales in the balance sheet profit - 96.29%

The profit plan from core activities was exceeded by 22.66 thousand rubles. or 6.12%.

The amount of profit from the sale of products in 1999 was almost 5 times (399.5%) more than in 1998.

The company's net profit increased by 221.26 thousand rubles. or 395%.

Inflationary processes played a significant role in such a rapid increase in the amount of profit. However, the improvement of the enterprise itself also played a significant role. This was shown by factor analysis of profit and profitability.

The largest change in profit from product sales occurred due to changes in the structure of products sold. In the structure of manufactured products, the share of more profitable products is increasing. Thus, the enterprise is increasing the production of finished wood products, such as doors, at a faster pace. Frames, door and window blocks than rough lumber. The increase in profit from the sale of products due to the volume of production increased by 2.36%.

More fully than profit, the final results of management characterize the indicators of profitability.

The return on sales, which shows the share of profit in the total proceeds from sales, in the reporting year amounted to 10.9%, which is 2.67 times more than this indicator for the previous year and 0.4% more than the target.

The profitability of production and sales costs in the reporting year was 12.23, which is 0.46% more than according to the plan and 2.87 times higher than the result of the last year.

The return on total capital almost quadrupled to 13.7%. The return on non-current assets was 8519%, which is 3.62 times higher than the indicator of the previous year.

The analysis also showed that the company under consideration has reserves for increasing profits and profitability. These include: an increase in the volume of production and sales of products, a decrease in the unit cost of products and an increase in product quality.

Using the identified reserves, Onyx Plus LLC can receive additional profit in the amount of 173,813 thousand rubles and increase the profitability of production from 12.23% to 17.39%, i.e. 1.42 times

In this thesis, we analyzed the financial results of the production enterprise LLC "Onyx Plus". This analysis is retrospective, since information of already accomplished facts of economic activity was used; internal, i.e. only one enterprise was studied; final (for one year); financial and economic, i.e. its content is the study of the interaction of economic processes and financial results.

According to the methodology used, our analysis is comparative and factorial. By the scope of the studied objects - selective and thematic, i.e. not all aspects of the economic activity of Onyx Plus LLC were considered, but only financial results.

This analysis is not exhaustive, it is dictated by the limited information provided by the enterprise and, to some extent, by the limited scope of this thesis. one of the tasks of performing this work is to show proficiency in various methods and methods of analysis.

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Appendix

1. Balance sheet (Form No. 1).
2. Profit and Loss Statement (Form No. 2).

Analysis of the financial results of an enterprise and an organization implies the study of how the end result of the activity enterprises and process receiving it. The end result, of course, is profit as the main metric that a business venture is guided by. Of course, in conditions of market development, this is not always the case, because often organizations are guided not so much by the generation of momentary profits as by the growth in the value of their own securities. This approach is called value-based management. However, transparent market conditions in Russia have not yet been formed, so now the analysis of the financial results of the activities of enterprises and organizations implies an assessment of the company's ability to obtain profit.

For an external analyst, the main source of information for this type of analysis is income statement, accounting balance, cash flow statement. Income statement interests, first of all, as it displays the main income, expenses and various financial results of the company. Balance it is necessary when calculating individual profitability indicators, which will make it possible to understand the efficiency of using available limited resources (assets) for the purpose of obtaining profits.

Also, the balance allows a little better understanding of the current marketing policy of the enterprise. Concerning cash flow statement, then the comparison of its data with the statement of financial results will allow us to understand the quality of the marketing and credit policy of the organization. It is worth noting that if the analysis is carried out not of an individual enterprise, but of a whole group of enterprises, then it is necessary to use consolidated statements, since the profits of one organization within the group may flow into the profits of another organization.

The purpose analysis of financial results is to determine how effectively to invest in the company. A higher value of the profitability ratios in comparison with competitors will indicate the attractiveness of such an investment alternative.

In the process of evaluating financial results, the following should be determined:

1. What is quality arrived?

2. How successful was the company in generating profits? during previous periods?

3. Is the company capable of continuing to create a decent financial result? in future?

Profit quality is determined using the statement of financial results, information on the quality of accounts receivable, cash flow statement. If the share of problem receivables is high, it means that the company sold part of its products or services on unfavorable terms. This indicates high competition and low market strength of the enterprise. In addition, if in the statement of cash flows the amount from the sale of goods and services is significantly lower than the amount of revenue, then this confirms this conclusion.

Thus, the company sells goods and services without receiving payment at the time of delivery. If because of this the company does not receive money for them, then we can say about low quality arrived. The company, following the accounting rules, will display the received profit in the income statement, but it is quite possible that already in the future period the financial result will be negative due to the write-off of significant amounts of bad accounts receivable.

When they talk about the quality of profit, they mean:

• how much stable is such a profit. Whether it is highly probable that in the next period the profit will be the same or higher;
• how much adequate is profit. Are accounting methods used that inflate the current profit margin?

During the analysis, you should also pay attention to the factors that form the financial results:

• competitiveness products and services, which is expressed in the ability to maintain a high price for the product. An indicator for these purposes can be gross margin;
• production level and efficiency of use available material, labor and other resources;
• capital structure which leads to a certain level of financial expenses;
• management efficiency tax liabilities;
• quality of management and management skills.

Analysis of financial results: analysis of profit, income and expenses

In the process of analyzing financial results, one should use such methods as methods of horizontal and vertical analysis, the method of relative indicators (profitability assessment), the method of comparison (for example, with competitors), factor analysis, and others.

Fig. 1 Methods for analyzing financial results

Vertical analysis in this context means dividing all key figures by the amount of revenue for the corresponding year. This action allows you to understand the role of each of the income and expenses in the formation of the final result. A high share of the cost price in the revenue is expected.

Table 1 - Example of vertical analysis

Indicator name	For January - December 2015	For January - December 2014	Absolute gain, +, -
Cost of sales
Gross profit (loss)
Administrative expenses
Profit (loss) from sales
Interest receivable
Percentage to be paid
Other income
other expenses
Net income (loss)

In the process of horizontal and vertical analysis, it is also worth paying attention to the structure of income. Whether they are received from the main activity or earned randomly. As shown in table 1, the share of other income is 182% of the total revenue, which means that the incidental income was the main one. This casts doubt on the company's ability to generate sustainable results.

In addition, dividing the financial results (gross profit, sales profit, pre-tax profit and net profit) by the amount of proceeds will allow you to obtain the corresponding margin. Let's consider them in more detail.

Gross margin

Gross margin indicates the percentage of revenue available to cover operating and other expenses. Higher gross profit margins indicate some combination of higher product prices and lower production costs. The ability to charge a higher price is constrained by competition, so gross margins are dependent on (and generally inversely proportional to) competition. If the product has a competitive advantage (such as better branding, better quality, or exclusive technology), the company may charge more for it. On the cost side, a higher gross margin may also indicate that the company has a competitive advantage in generating cost of production (manufacturing advantage).

Calculation Formula = Gross Profit / Revenue

Operating margin

Operating margin is calculated as gross margin minus operating expenses.

Formula for calculation = Profit from sales / Revenue

Thus, a faster growing operating margin versus gross margin may indicate improved control over operating costs such as administrative costs, distribution costs, etc. In contrast, a decline in operating profit may be an indicator of deteriorating control over operating costs.

Pre-tax margin

Formula for calculation = Profit before tax / Revenue

Pre-tax profit (also called profit before tax) is calculated as operating income minus interest and other non-core expenses, therefore the pre-tax margin reflects the impact on profitability of borrowed funds and other (non-operating) income and expenses. If the pre-tax margin rises as a result of an increase in non-operating income, then the analyst must assess whether this increase reflects a deliberate change in the company's business focus and therefore the likelihood that growth will continue.

Net profit margin (Net margin)

Formula for calculation = Net profit / Revenue

Net income is calculated as revenue minus all expenses. Net margin includes both recurring and one-off components. Overall, net margin adjusted for non-systemic (non-core and volatile) items offers a better idea of ​​a company's potential profitability in the future.

Analysis of the dynamics of financial results

The horizontal method (aka analysis of dynamics) means comparing the same indicator over a certain period of time. Estimate profit during the previous periods can be based on the data of the financial statements. It is worth paying attention not so much to the absolute value of the indicator, but to the main dynamics that has formed. If there is a constant growth in gross, operating (sales profit), pre-tax and net profit, then we can expect that this trend will continue in the future. It is also worth comparing the growth of various indicators. For instance:

• Are net income growing faster than revenue?
• Is the cost of production growing faster than revenue? If so, it indicates a deterioration in the quality of production cost management.
• What growth rates show financial expenses (interest payable) in comparison with the growth of borrowed funds in the balance sheet?
• What are the growth rates financial income(interest receivable) versus financial investments?

This is an example of several questions that should be answered in the financial analysis process.

In general, horizontal analysis allows predicting the further development of the enterprise and its ability to generate a positive financial result.

Table 2 - An example of the analysis of dynamics (horizontal analysis)

Indicator name	For January - December 2015	For January - December 2014	Absolute gain, +, -	Relative growth,%	Relative growth,%
Cost of sales
Gross profit (loss)
Administrative expenses
Profit (loss) from sales
Interest receivable
Percentage to be paid
Other income
other expenses
Profit (loss) before tax
Net income (loss)

Analysis of financial results: indicators and their interpretation

Partially, the method of relative indicators (method of coefficients) was described above, because the margin is also the ratio of two indicators, and therefore - the financial ratio.

Profitability ratios measure the profit earned by a company over a period. Table 3 shows some of the most commonly used profitability metrics. Return on sales measures represent various subtotals in the income statement (for example, gross profit, operating income, net income) as a percentage of revenue. Essentially, these indicators are an integral part of the vertical analysis of the statement of financial results (as discussed in the relevant section).

Return on investment ratios show the return relative to the assets, equity or equity employed by the company. For operating return on assets, the return is measured as operating income (ie before interest on debt, tax and non-operating expenses). For return on assets and equity, the return is measured as net income (i.e. after deducting interest, payments on borrowed capital). For the return on ordinary equity, the return is measured as net income minus dividends on preferred shares (since preferred dividends are returned to owners of preferred capital).

Table 3 - Indicators of profitability of the enterprise

Indicators	Numerator	Denominator
Return on sales
Gross margin	Gross profit
Operating margin
Pre-tax margin	Profit before tax
Net margin	Net profit
Return on investment
Operating return on assets	Operating profit (profit from sales)	Average asset value
Return on assets	Net profit	Average asset value
Return on equity	Profit before tax and interest payable	Average cost of loans and equity
	Net profit	Average cost of equity
Return on ordinary equity	Net Income - Dividends on Preferred Shares	Average cost of equity for common shares

The high value of each of the indicators of profitability indicates a greater profitability of the enterprise.

Return on assets

The indicator measures the return on assets used by the company. The higher the ratio, the more profit is generated for a given asset level. Most practitioners calculate this relationship like this:

Net income / Weighted average assets * 100%

The problem with this metric is that the use of net income does not take into account the impact of the funding structure. Interest expense (interest payable) has already been deducted in the numerator. Therefore, some analysts prefer to add back the interest expense to the numerator. In such cases, the interest should be adjusted for income tax as net income is determined after taxes. With this adjustment, the indicator calculation process will look like this:

Return on equity

Return on equity measures the return that a company earns on all the capital it uses (short-term debt, long-term debt, and equity). The numerator uses profit before tax and interest payable.

Return on equity

Return on equity measures the company's return on equity, including minority equity, preferred capital, and equity of ordinary shareholders. As already noted, the indicator is measured as net income (i.e. interest payable is not included in the formula for calculating the indicator). A type of return on equity is the return on equity, which measures the return on earned money by a company only on its ordinary shares.

1. Determination of the general situation at the enterprise (in the organization), as well as in the industry and the economy.

2. Studying the dynamics of profits during the research period

3. Determination of the quality of the financial result (profit)

4. Conducting a vertical analysis of the statement of financial results

5. Determination of indicators of profitability

6. Comparison with competitors

The term “quality of profit” is quite common in the financial analysis literature. At the same time, there is no clear, unambiguous definition of this concept. "There is almost no general agreement on the definitions or assumptions underlying this concept."
In most cases, the quality of profit is understood as the content of profit, the nature of its formation under the influence of various factors. Sometimes the quality of profit is reduced to the problem of the reliability of financial statements, which narrows the analysis. It seems that the quality of profit is a characteristic of the factors forming indicators of financial results, with and without a quantitative measurement, due to management decisions in the field of marketing, production and financial management.
The practical value of the analysis of the quality of profit lies in the correct assessment of trends in the formation of profit as an indicator of efficiency, a source of financing the needs of expanded reproduction and payment of income to owners, which at the same time makes it possible to link the level of financial results with the quality of management. Assessment of the quality of profit enables users of financial statements to carry out a comparative analysis of the activities of different enterprises, taking into account the factors of generating profit, financial managers - to make informed management decisions, to use the results of analysis of the quality of profit in predicting financial results.
The object of analysis is all stages of the formation of financial results, but different groups of users pursue different interests. Capital providers prefer earnings before interest and taxes and assess this as a source sufficient to cover finance costs. From the point of view of the state, this is profit before taxation as the basis for the formation of taxable profit and a source of payment of income tax.
From the point of view of owners, the most important indicator is net profit as an object of distribution. The net (retained) profit, revealed according to the accounting data, increases for the reporting year, and the loss decreases the capital of the organization. In the next (for the reporting) year, the net profit is allocated to the reinvested part and dividend. Determination of the optimal proportions of distribution of net profit is the content of the dividend policy, which is an important tool of financial management not only in joint stock companies, but in companies of a different organizational and legal form, where the authorized capital is divided into shares, and the income to the owner is paid on the invested capital, depending on his share in the capital. In certain cases, the net profit is also directed to the formation of capital reserves.
The direction of net profit for the payment of dividends reduces the capital of the organization and is reflected by the entry: D-t cch. 84 "Retained earnings (uncovered loss)" К-т сч. 75 “Settlements with founders” (70 “Settlements with staff on remuneration”), which at the same time shows the emergence of debt to shareholders (participants, founders) for the payment of income. Debt repayment in most cases is made in cash, the bulk of which is provided by the sale of products (works, services), which is difficult with a decrease in sales, the presence of significant overdue receivables, outstripping the growth rate of current costs. A guaranteed regular payment of dividends is possible with such a quality of profit, which is provided mainly by an increase in profit from sales, and, consequently, by production factors. In this case, the profit is not random, but a predictable value.
The reinvested (or retained) profit becomes almost constant in the “Capital and reserves” section of the balance sheet. After writing off part of the net profit for the payment of dividends, as a rule, debit entries on account 84 "Retained earnings (uncovered loss)" are not made. But the reinvested part of the profit is considered as a source of financing the costs associated with scientific, technical and industrial development, it allows you to economically substantiate the amount of necessary capital investments, financed from profit, and the increase in the need for working capital. From the standpoint of financial stability, a significant share of profit in the total amount of sources of financing for economic activity is preferable. Control and management of the use of retained earnings are carried out during financial planning and conducting analytical accounting of the use of profit on the corresponding analytical sub-accounts, which does not change the amount of retained earnings in synthetic accounting, since the financing of costs is provided at the expense of incoming funds. Profit as an element of capital only changes its form. This circumstance requires attention to the factors of the formation of net profit. In other words, it is necessary to answer the questions: to what extent the formation of profit reflects the efficiency of economic activity, and to what extent it is the result of manipulating accounting methods.
Assessment of the quality of net profit can be carried out taking into account the grouping of factors influencing its formation in the following areas:
analysis of accounting policies and assessment of the role of accounting methods in the formation of net profit;
analysis and assessment of the role of production factors in the formation of profit from sales, stability of profit from sales as the main element of the total amount of profit;
analysis and assessment of the composition and structure of other income, the nature of their formation;
analysis and assessment of tax accounting policies and the impact of tax payments on net income.
The analysis of accounting policies can be carried out by external users according to the data of the annual report, which discloses its content, in accordance with the requirements of the accounting regulations.
In reality, the analysis of accounting policies is quite difficult to do. Almost always, the necessary information in the reports is absent, despite the formulated rule of “disclosing (making public) the accounting policies of organizations.” In addition, this document applies in terms of disclosing accounting policies only to organizations that publish financial statements (in whole or in part) in accordance with the legislation of the Russian Federation , constituent documents or on their own initiative.
It is known that when forming an accounting policy, an organization independently chooses one of several methods allowed by legislation and regulations on accounting. If, on a specific issue, methods of maintaining accounting records have not been established, then the chief accountant of the organization, when forming an accounting policy, develops a method of keeping records in accordance with accounting standards. The latter circumstance, on the one hand, makes the accounting policy a management tool and creates the basis for the multivariance of the magnitude of financial results. On the other hand, the role of subjective factors in shaping future financial results increases, such as the level of professional judgment of the chief accountant, his experience and qualifications, understanding of the relationship between accounting policies and the value of many financial indicators.
This chapter examines the content of the profit and loss statement of OJSC "Milk" in two versions (see Tables 5.2 and 5.5). In the first case, the accounting policy in terms of keeping records of general and commercial expenses is to recognize them as expenses of the period, which reduces the profit from sales (expenses are completely decapitalized). In the second case, general business expenses in accordance with the accounting policy are written off to the account "Main
Regulation on accounting "Accounting policy of the organization" PBU 1/98 (as amended by the Order of the Ministry of Finance of Russia dated December 30, 1999 N ° 107n).
production "and, therefore, are distributed between the balance sheet, increasing the value of current assets, and the income statement. The income statement includes only a part of general business expenses - in the share related to products sold. It is not visible in the report, since it is included in the cost of goods sold. Selling expenses are allocated between the products sold and the balance of finished products in the warehouse. Accordingly, the profit from sales is getting higher. Profit before taxation, income tax and net profit also increase (Table 5.14).
Frequent changes in accounting policy, its insufficient elaboration lead to incompatibility of accounting information, veil the process of forming financial results, complicate the process of their analysis and planning. In particular, therefore, a requirement has been formulated to apply consistent accounting policies from year to year.
Indicators of financial results and profitability when changing accounting policies
Table 5.14 Indicators Option 1
accounting
policy II variant of accounting policy Absolute deviation Deviation,%
(group З:: group 1 100) А 1 2 3 4 T. Sales proceeds, thousand rubles. 7 106 689 7 106 689 X X 2. Cost of products sold, thousand rubles. 5 373 764 6 102 692 X X 3. Gross profit, thousand rubles. 1,732,925 X X X 4. Selling expenses, thous. Rub. 283 401 279 424 X X 5. Administrative expenses, thousand rubles. 800 565 - X. X 6. Profit from sales, thousand rubles. 648 959 724 573 75 614 11.7 7. Total costs, thousand rubles. (item 2 + item 4 + item 5) 6 457 730 6382 116 -75 614 -1.2 8. Profit before tax, thousand rubles. 730 503 806 117 75 614 10.4 9. Net profit, thousand rubles. 609 802 667 269 57 467 9.4 Yu. Costs per ruble of sales, kopecks. (p. 7 / p. 1) 90.87 89.90 -1.06 1.17 1 1. Return on sales,% (p. 6 / p. 1) 9.1 10.2 UX 1 2. Overall profitability ,% (p. 8 / p. 1) 10.3 11.3 1.0 X 1 3. Return on sales,% (p. 9 / p. 1) 8.6 9.4 0.8 X To production factors that affect the profit from sales, include the physical volume of sales, prices for products sold, the level of variable and fixed costs, the structure of the product range, the proportion of non-core low-profit or loss-making
types of activities. Analysis of these factors helps to understand how stable the increase or decrease in profit from sales is.
Impact of price changes on changes in sales volume
Table 5.15 Indicators Previous year Reporting
year Deviation The share of the factor in the increase in sales volume,% Sales volume in actual prices, thousand rubles. 4051 317 6 P5 156 2063839 100.0 Sales volume in comparable prices, thousand rubles 4051 317 5317527 1 266210 61.4 Increase in the value of sales due to higher prices, thousand rubles. 797 629 38.6 The level of the cost price is assessed by the share of the cost price of the product in the volume of sales. This indicator testifies to positive dynamics - the share of production costs decreased from 80.8 to 75.6%, which led to an increase in gross profit by 5.2 kopecks. for every ruble of sales. Analysis of the cost structure in the context of homogeneous economic elements (according to the section "Expenses for ordinary activities" of form No. 5 "Appendix to the balance sheet") complements the results of the analysis and allows you to assess the impact of the share of material costs and labor costs on the change in the cost of the sold products.
The influence of revenue as the value of sales on profit occurs through changes in prices and the physical volume of sales. A fairly rapid rise in prices and tariffs for products and services can provide a significant part of the increase in profits. An unjustified increase in prices, the desire to compensate for the rise in cost of costs by price reduces the quality of profit, increases the inflationary nature of its formation. Quantitative Impact Assessment price factor can be performed using the index of prices for manufactured products. An approximate estimate is made using data on price indices published by the RF Goskomstat. For example, the price index for the main products of OJSC “Moloko” in the reporting year was 1.15, the volume of sales last year - 4,051,317 thousand rubles, in the reporting year - 6,115,156 thousand rubles. in actual prices, then the volume of sales in the reporting year in comparable prices is 5317 527 thousand rubles. (6 115 156 / 1.15). The increase in the volume of sales due to price changes is 797,629 thousand rubles, due to changes in the physical volume of products sold - 1,266,210 thousand rubles. (Table 5.15).
The complex influence of prices, production costs, the physical volume of products, the structure of its assortment is estimated using the gross profit ratio. In a trade organization, a simplified calculation of the coefficient (Kvp) can be performed as follows:
Sales volume at sale prices - Sales volume at purchase prices
Kvp =
Sales volume in selling prices
Its decrease means a decrease in the ability to cover distribution costs, respectively, the profit from the sale decreases. The coefficients calculated for certain types of goods characterize the level of profitability in the context of assortment groups of goods.
In relation to the report of OJSC “Moloko”, a similar coefficient can be used to assess the profitability of those types of activities (Table 5.16) that are classified as ordinary:
production and sale of our own products;
performance of works and services;
sale of goods.
Table 5.16
Dynamics of the gross profit ratios of OJSC “Moloko” Indicators In thousand rubles. Growth,% Gross profit ratio,% Gross profit structure,% Previous year Rep. year Previous year Rep. year Off Previous
YEAR Rep. year Gross profit, total 881,124 1,732,925 96.7 19.2 24.4 5.2 100.0 100.0 including:
sale of own products 863 494 1695831 96.4 18.8 23.9 5.1 98.0 97.9 performance of works (services) 1759 5400 207.0 0.038 0.076 0.038 0.2 0.3 turnover 15 871 31694 9316 7 0.345 0.446 0.101 1.8 1.8
The increase in gross profit amounted to 96.7%, or 851801 thousand rubles. Using the methods of economic and mathematical modeling and factor analysis, it is possible to assess the influence of the factors of the gross profit ratio and sales volume (B) on the growth of gross profit (GP) according to the model (thousand rubles):
due to change = - = (0.244 - 0.192) - 7 106 689 = 369 547.
due to the change = (Ві - Во) ~ - ^ - = (7 106 689 - 4 594 656) 0.192 = 481 734.
The predominant contribution to the formation of gross profit is made by the production and sale of basic products - the share of gross profit is 98%. The gross profit ratio for this type of activity increased from 19.2 to 24.4%. Gross profit for other types of activities is insignificant, although its growth rates are significant. At the same time, attention is drawn to the very low gross profit margins for the sale of works (services) and turnover (less than 1%).
Having distributed administrative and commercial expenses by type of activity in proportion to the volume of sales, it is possible to analyze the profit from sales by type of activity (Table 5.17).
Table 5.17 Previous year Fiscal year Indicators Own work, Commodity Own work, Commodity products services turnover products services turnover Gross profit 836 494 1759 15 871 1 695831 5400 31694 Selling expenses 79 936 85 10 694 243861 557 38 984 Administrative costs 302 277 323 40 441 688 869 1573 PO 123 Profit on sale 481 282 1351 -35 264 763 101 3271 -117413 Total profit on sale 447 369 648 959
Profit from sales by type of core activity, thousand rubles
The conventionality of such a calculation is obvious. But in this way it can be shown that certain types of activities, classified as ordinary, do not bring or almost do not bring profit. The unprofitableness or low profitability of these types of activities is compensated by income from the main products, which serves as a justification for managerial decisions to increase prices and tariffs for the main products. This situation is still typical for many enterprises, which include non-core income and expenses in their income and expenses for ordinary activities.
The marginal approach to assessing the financial results and cost structure for a given volume of sales involves the differentiation of variable and fixed costs for the production and sale of products. Selling and administrative expenses recognized as expenses for the period are treated as deemed fixed expenses. Fixed costs can be attributed to the depreciation of fixed assets, and in the example used, JSC "Moloko" - and other general production costs. Adjustment of the cost price in the income statement ("minus") and gross profit ("plus") for the amount of depreciation
tion and other general production costs will bring the latter indicator closer to the value of marginal income (as the difference between revenue and variable costs). Of course, using internal information about variable and fixed costs, interim reporting, the analysis can be carried out more correctly. This makes it possible to assess the dynamics of indicators such as critical sales volume, operating lever, margin of safety, and draw conclusions about the risks of economic activity associated with an irrational structure of costs and the consequences of a likely decline in sales (see Table 5.18).
Critical sales volume, operating leverage, safety factor are interrelated indicators. At a certain (critical) volume of sales, the proceeds from the sale become equal to the total costs of producing and selling products. The difference between the annual sales volume and the critical sales volume is the safety margin, which is regarded as an indicator of risk. If the decrease in sales becomes equal to the safety factor, then the financial result will be zero. If the sales volume decreases in excess of the safety margin, the financial result will turn into a loss. The lower the margin of safety, the higher the risk of not covering fixed costs and getting a loss if sales are reduced. The decrease in the safety factor is due to an increase in conditionally fixed costs per unit of output. In other words, the change in fixed costs does not correspond to the change in sales volume, that is, it is economically unjustified.
If the relationship between the indicators under consideration is taken as linear, then the safety margin is the reciprocal of the operating leverage indicator. Thus, an increase in operating leverage also indicates an increase in the risk associated with an irrational cost structure for a given volume of sales.
The calculation and analysis of these indicators gives a fairly accurate picture if carried out in relation to the relevant period during which the costs do not change their behavior. The annual period cannot be recognized as such, and performed in table. 5.18 the calculations do not provide absolute accuracy, but they do reveal a trend.
During the analyzed period, the operating leverage increased from 1.42 to 2.906, and the safety margin of OJSC Moloko decreased from 70.4 to 34.4%, which indicates an unfavorable trend in the formation of financial results: higher growth rates of fixed costs compared to sales volume change the structure of marginal income
Table 5.18 Indicators Year preceding the previous year Previous year Fiscal year Forecast for the next year 1. Revenue from the sale of products 1 959 390 4 597 656 7 106 689 11 262 396 2. Variable costs 1 375 167 3 554 071 5 221 059 8 195 016 3. Marginal income 584 223 1,043 585 1 885 630 3 067 380 4. Fixed costs, total 172 907 596 216 1 236 671 2 299 788 including: depreciation 25 163 65 400 96 505 173 709 other general production costs 2112 97 061 56 200 S9 920 selling expenses 18 272 90 715 283 401 595 142 administrative expenses 127 360 343 040 800 565 1 441 017 5. Profit from sales (item 3 - item 4) 411 316 447 369 648 959 767 592 6. Coefficient covering fixed costs (p. 3 / p. 1) 0.298 0.227 0.265 0.272 7. Critical sales volume (p. 4 / p. 6) 579 902 2 626 711 4 660 849 8 444 054 8. Operating leverage ratio (p. 3 / p. 5) 1.420 2.333 2.906 3.996 9. Safety factor,% (I / p. 8 x 100) 70.4 42.9 34.4 25.0
Assessment of tendencies in the formation of profit from sales, thousand rubles
Yes. An increase in the ratio of covering fixed costs is recognized as a positive trend if there is an increase in the share of profit in the structure of marginal income.
Margin income structure
Table 5.19 Indicators Year preceding the previous one Previous year Fiscal year thous. Rub. % thousand roubles. % thousand roubles. % Marginal income 584 233 100.0 1,043 585 100 1,885 630 100 including: fixed expenses 172 907 29.6 596 216 57.1 1,236 671 65.6 profit 411 316 70.4 447 369 42.9 648 959 34.4 Growth rates compared to the previous year fixed expenses 344.8 207.4 profit 108.8 145.1 Analysis and assessment of the composition and structure of other income and expenses depend on the nature of their formation and their share in the total amount of income
The structure of the marginal income of OJSC “Moloko” worsened - the share of fixed costs increased (Table 5.19).
(costs). At the same time, it is recommended to classify income and expenses as stable, rare and extraordinary. This allows, firstly, to assess the quality of profit (the higher the share of rare and atypical items, the lower the quality of profit), and secondly, to make more reliable forecasts.
The size and dynamics of income and expense items are, in one way or another, the result of managerial decisions.
Sales profit reflects the effectiveness of marketing and manufacturing activities. The impact on sales of doubtful receivables can be attributed not only to loss of profit, but also to shortcomings in financial management... Unreasonable growth in costs and, as a result, an increase in the need for working capital, an excessive increase in short-term liabilities indicate an imbalance in production and financial plans... The lack of income from financial investments, with their significant value in the accounting balance sheet, may indicate the absence of a well-thought-out investment policy, and a significant decrease in net profit due to debt service costs - about the irrational structure of sources of financing for economic activities.
Non-operating income and expenses are not objectively necessary for the continuation of economic activities. External analysis of items of non-operating income and expenses is carried out according to the appendix to the income statement. It is advisable to carry out internal analysis according to analytical accounting data, where it is most convenient to group the collection of information for analysis purposes. As a rule, a significant part of non-operating income does not contribute to an increase in the quality of profit (fines, penalties, forfeits received, write-off of accounts payable, positive exchange rate differences, etc.), and expenses "eat up" the profit from sales and thereby reduce the net profit and growth capital.
A significant part of taxes paid by organizations - legal entities, has a direct or indirect impact on the formation of financial results (except for value added tax, excise taxes, sales tax paid by the buyer).
Customs duties on certain types of products, federal license fees are included in the initial cost of the purchased goods as different types property, which through the amortization mechanism reduces taxable profit and increases net profit. Taxable profit is also reduced when taxes and mandatory payments are included in the cost price, which are written off to the cost price in accordance with tax legislation. These include federal (unified social tax, tax on subsoil use, tax on the reproduction of the mineral resource base, some duties) and regional taxes (tax on road users, tax on vehicle owners, etc.), some types of local license fees ...
Operating expenses include certain types of duties, property tax, which also reduces the taxable base when calculating income tax.
Taxable profit is formed according to tax accounting data in accordance with Tax Code RF and differs in size from the accounting profit before tax. For the most part, the same non-operating expenses are not taken into account when calculating taxable profit. Income tax, like other direct taxes, should be considered as an important factor affecting the amount of net profit.
The results of the analysis of tax payments in combination with the justification of the tax accounting policy, the development of optimization schemes for the payment of taxes within the framework of the current legislation should be taken into account when predicting the amount of net profit.
The basis for forecasting is the stability of certain income and expenses. An analysis of the stability of the structure of income and expenses, in addition, indicates the quality of profit, if a favorable structure of income and expenses remains. Therefore, you should first of all analyze the composition and structure of income (by type of product, by line of business), other types of income, identifying recurring regular items.
A balanced approach to costs is required. For example, in the composition of selling expenses, advertising expenses grow at the highest rates, outstripping the growth in sales. In the short term, this leads to a decrease in profits, but in the long term it helps to generate additional income if promotional activities are effective.
Development of pricing policy is part of the overall marketing strategy companies in a market economy. Various external circumstances (saturation of the market with goods, lower inflation, developed competition) imply more complex methods of price management than their automatic increase in response to rising costs.
Forecasting profit from sales due to the price factor assumes an assessment of price dynamics in previous periods, calculations of price justification in the context of assortment positions for the coming year, an assessment of changes in the level of market prices in a given market segment.
With a steady trend in revenue, variable and fixed costs, using statistical methods, it is possible to predict the magnitude of financial results for a relatively short period, since during this time the conditions for the development of the phenomenon under study and the nature of its dynamics do not have time to change significantly. Based on this assumption and the nature of changes in indicators, extrapolation methods are used.
Suppose we know data on changes in sales, variable and fixed costs by item of expenditure over several years in a comparable estimate, price indices for products sold and consumed resources. Using average growth rates, the projected value of sales, variable and fixed costs is calculated. Profit margin, sales profit, critical sales volume, fixed cost coverage ratio, operating leverage and safety factor are defined as derived indicators (see table 5.18 - forecast for next year). The predicted values ​​of the indicators indicate a decrease in the safety margin and the rate of profit growth, which requires changes in the management of conditionally fixed costs, additional efforts to increase sales.

The financial results of a commercial organization are characterized by the amount of profit and its level of profitability.

The main sources of information during the analysis are analytical accounting data and a statement of financial results.

Algorithm and sequence of analysis of financial results

A. D. Sheremet proposes to analyze the profit and profitability of products in the following sequence:

A number of indicators are formed, in which the financial results of the organization are manifested ”. At the same time, indicators such as gross profit, profit (loss) from sales, profit (loss from sales and other non-operational activities, profit (loss) before tax (general accounting profit), profit (loss) from ordinary activities, net profit ( retained earnings (loss) of the reporting period).

The analysis at the preliminary stage is carried out both in terms of absolute indicators of profit and in terms of its relative indicators, for example, in relation to the ratio of profit to proceeds from sales - in terms of profitability of sales.

An in-depth analysis is carried out by studying the influence on the amount of profit and profitability of sales of various factors, which are subdivided into a group of external and a group of internal factors.

Then the impact of inflation on the financial results from product sales is analyzed.

The quality of profit is studied - a generalized characteristic of the structure of sources of formation of profit.

The analysis of the profitability of the company's assets is carried out.

Profit margin analysis is performed.

1. The classification of profit is given, which is considered as an indicator of the effect of economic activity. For analysis purposes, profit is classified:

• in the order of formation: gross profit, marginal income, profit before tax, net profit;
• by sources of formation: profit from the sale of services, profit from the sale of property, non-operating profit;
• by type of activity: profit from ordinary activities, profit from investment activities, profit from financial activities;
• by frequency of receipt: regular profit, extraordinary profit;
• by the nature of use: profit directed to dividends (consumed), capitalized profit (retained) profit.

At the same time, it identifies the following goals of profit management:

• profit maximization in accordance with the resources of the enterprise and market conditions;
• achieving the optimal ratio between the maximum possible level of profit and the risk of its receipt;
• high quality profit;
• ensuring an appropriate level of payment of dividends to owners;
• ensuring a sufficient volume of investments due to retained earnings;
• increase in the market value of the enterprise;
• ensuring effective programs for personnel participation in the distribution of profits.

2. Profit indicators are formed, the bases of their calculation are disclosed and the relationships between them are disclosed.

3. The economic factors affecting the amount of profit are listed, a factor analysis of the profit before tax is carried out.

5. The analysis of the "quality" of profit, which is understood as "a generalized characteristic of the structure of the sources of the formation of the organization's profit" is carried out. The profit is of high quality, if the volume of production increases, the costs of production and sales decrease, the low quality of profit means that there is an increase in prices for products without an increase in the volume of output and sales in physical terms. In addition, the quality of profit is characterized by:

• the state of settlements with creditors, the less overdue accounts payable, the higher the quality of profit;
• the level of profitability of sales;
• profit sufficiency ratio;
• the structure of profitability by product.

6. The cash flows of the organization are considered in order to find out the degree of sufficiency of cash receipts from current activities to ensure outflows from the current and investment activities of the enterprise. It is proposed to link the analysis of financial results with the analysis of cash flows.

7. The analysis of financial results according to the financial statements of the enterprise is carried out, that is, their level, dynamics (horizontal analysis of the profit and loss statement) and structure (vertical analysis) are studied.

8. The scheme of factor analysis of the total accounting profit (profit before taxation) and profit from the sale of products is proposed.

9. The change in profit from the sale of products is influenced by factors of two groups. The first group includes: a change in the volume of sales of products assessed at the baseline or planned cost, a change in the volume of products due to changes in the structure of products. The second group of factors is represented by savings from reducing the cost of production, savings from reducing the cost of production due to structural shifts, changes in costs due to the dynamics of prices for materials and tariffs for services, changes in prices per ruble of products.

The disadvantage of this technique is that when disclosing the composition of factors affecting the change in profit, a methodological error was made, which consists in the fact that it is recommended to take into account the influence of the same factor on the change in profit twice, namely, a structural shift in the range of products is taken into account simultaneously in two groups of factors. It can be noted that the proposed classification of factors and its division into two groups raises a question.

10. Then it is recommended to analyze the use of profit on the basis of the income statement, considering the main directions of use of net profit. The author proposes, in the course of vertical and horizontal analysis of the use of net profit, to calculate the capitalization ratio, the rate of sustainable growth of equity capital, the coefficient of profit consumption. At the same time, the profit capitalization ratio means the share of funds allocated to reserve funds and the accumulation fund in the total amount of net profit, while the consumption ratio means the share of funds from net profit allocated to consumption (consumption fund, social fund, dividends, charitable and other purposes) in the total amount of net profit. The rate of sustainable growth of equity capital is the ratio between the difference between net and consumed profit and the value of equity capital on average for the analyzed period.

11. Considerations are expressed that the final stage of the analysis of financial results should be a profitability analysis, within which profitability indicators should be determined, a definition of economic and financial profitability is given with consideration of the effect of financial leverage, an analysis of the profitability of assets, equity capital, profitability of products and production assets is carried out.

Summarizing what has been said, it can be noted that the methodological approach to the content of the economic analysis of the financial results of the enterprise should be as follows:

The analysis of financial results should be carried out observing the logic of movement from the general to the particular and, further, to determine the influence of the particular on the general. In other words, first, the generalizing indicators of financial results in their dynamics are analyzed, then their structure is studied, the change in the analyzed period is determined in relation to the base period or to the business plan; identifies the factors, the action of which led to changes, indicators that can be used to quantify the impact of factors on the change in financial results.

Detailed analysis of financial results based on an in-depth study of particular indicators and identification of reserves for profit growth

Following this logic of analysis, first of all, the formation of profit is studied, that is, the mass, dynamics and structure of the aggregate (general accounting) profit of the enterprise, identifying the factors of its change and potential reserves.

Then the following are analyzed:

• components of total profit, which are profit from sales and profit from other activities (operating and non-operating profit);
• profit in the context of the release of specific types of products, specific contracts with customers;
• profit from other activities in the context of individual operations and transactions;
• profitability (profitability) of activities, in particular, profitability of sales, which characterizes the amount of profit per ruble of sales proceeds.

The next area is the analysis of profit from sales as part of marginal income with the allocation of conditionally fixed and conditionally variable costs for the whole enterprise and at the level of a specific product. And, finally, a limiting analysis or analysis of the incremental values ​​of proceeds and costs is carried out in order to determine the volume of production (sales), which corresponds to the possibility of the enterprise getting the maximum amount of profit from sales.

The indicators used for the analysis are estimated at basic, planned and actual prices, taking into account the effect of inflation, risk factors and uncertainties in making a profit.

Calculations of changes in financial results are carried out by direct counting and using various methods of economic analysis, the content of which is studied in his theory, which make it possible to reveal the system of particular changes under the influence of various factors and show its connection with changes in generalizing indicators.

At the same time, the sources of profit, the degree of stability of profit are being studied, and measures are being developed in order to realize reserves and forecast financial results.