From the point of view of production efficiency, the volume of working capital should be optimal, i.e. sufficient to ensure an uninterrupted production process, but at the same time minimal, not leading to the formation of excess reserves, freezing of funds, or increased production and sales costs. The need to form working capital in the optimal amount is caused by the fact that there is a time lag between the time of consumption of material resources in production and the receipt of revenue from sales, which depends on many internal and external factors. The amount of working capital sufficient for the normal functioning of the production process and sales of products is established by rationing working capital, which is the basis for their rational use.

Rationing of working capital - this is the process of determining the minimum, but sufficient for the normal flow of the production process, the amount of working capital at the enterprise.

In a market economy, the importance of standardization of working capital is very great: enterprises must independently establish and control the standard of working capital, since ultimately the efficiency of the enterprise and its financial position (solvency, stability, liquidity) depend on this. An underestimation of the amount of working capital entails an unstable financial position, interruptions in the production process and, as a consequence, a decrease in production volume and profitability. On the contrary, an overestimation of the size of working capital freezes funds in any form (inventory, suspended production, excess raw materials), thereby preventing investment in the expansion and renewal of production.

In the practice of internal production planning, enterprises use the following methods of rationing working capital.

Analytical The method involves calculating the need for working capital in the amount of their actual average balances, taking into account the growth in production volume in the planning period. A detailed analysis of the efficiency of using working capital in the base period is preliminary carried out, factors and reserves for accelerating their turnover are identified. It is used at enterprises in the structure of working capital of which production inventories occupy a large share.

Coefficient The method is based on dividing the elements of working capital into two groups depending on changes in production volume. Working capital included in the first group depends on the volume of production. The need for them is calculated using an analytical method based on their size in the previous period and the expected growth in production volume (raw materials, materials, finished products, work in progress). The second group includes deferred expenses, spare parts, low-value and wearable items, i.e. all types of working capital, the value of which does not depend on changes in production volume. Rationing of working capital of the second group is carried out on the basis of actual average balances for the previous period.

Method direct account consists in calculating the need for standardized working capital for each element. The advantage of this method lies mainly in the fact that it allows you to accurately determine the need for working capital. However, it is quite labor-intensive, requires highly qualified economists and is mainly used for a narrow range of material resources. The method is used to clarify the working capital needs of an existing enterprise or when organizing a new enterprise, when there is no statistical data, no rhythmically operating production, or a formed production program.

The direct counting method requires determining stock standards and average daily consumption for certain types of working capital. When rationing working capital, it is necessary to take into account the dependence of norms and standards on the duration of the production cycle, conditions of logistics (intervals between deliveries, sizes of delivered batches, distance of suppliers, speed of transportation) and conditions of product sales.

The method for calculating the need for working capital using the direct account method is presented below.

General working capital standard represents the sum of private standards:

where Np.z is the standard of production reserves;

Nn p – work in progress standard;

Ng.p – finished product standard;

Nb.r – standard of expenses for future periods.

All components of the general working capital standard must be presented in monetary terms.

Inventory standard determined by the formula:

Where Q cyt – average daily consumption of materials, rub.;

N – stock norm for a given element of working capital, days.

The working capital stock ratio represents the period (number of days) during which working capital is diverted to production inventories. The stock norm consists of current, preparatory, insurance, transport and technological stocks:

Current stock – the main type of stock that ensures the continuity of the production process. The size of the current stock is influenced by the frequency of deliveries under contracts and the volume of materials consumed in production. It is usually accepted at half the average interval between deliveries. The average interval between regular deliveries (supply cycle) is determined by dividing 360 days by the number of planned deliveries.

Insurance or warranty stock is required in case of unforeseen circumstances (for example, in case of shortage of raw materials) and is set, as a rule, at 50% of the current stock, but can be less than this value depending on the location of suppliers and the likelihood of interruptions.

Transport stock will be created only if the cargo turnover timeframe exceeds the document flow timeframe. Document flow – time for sending payment documents and submitting them to the bank, time for processing documents at the bank, postal travel time for documents. In practice, transport stock is determined on the basis of actual data for the previous period.

Technological stock will be created during the preparation of materials for production, including analysis and laboratory testing. Technological inventory is taken into account only if it is not part of the production process.

Preparatory stock is established on the basis of technological calculations or through timing and refers to materials that cannot immediately go into production (wood drying, grain processing).

In some cases, a seasonal stock norm is also established when the type of resource being harvested (sugar beets) or the method of delivery (by water transport) is seasonal.

Working capital standard for work in progress determined by the formula:

Where V сут – planned average daily volume of production at production cost;

T c – duration of the production cycle, days;

Kn.z – cost increase coefficient.

At enterprises with uniform production output, the cost increase coefficient can be determined by the formula:

Where A – costs incurred at a time at the beginning of the production process (raw materials, basic materials, semi-finished products);

V – subsequent costs until the end of production of finished products (for example, wages, depreciation).

Working capital standard for future expenses determined by the formula:

where P is the carryover amount of deferred expenses at the beginning of the planned year (taken from the balance sheet);

P – deferred expenses in the coming year (determined on the basis of the enterprise’s scientific and technical development plan);

C – deferred expenses to be written off against the cost of production for the coming year in accordance with the planned production cost estimate.

Working capital ratio for finished product inventories:

Where T f.p – time required to form a batch to send finished products to the consumer, days;

T o.d – time required to prepare documents for sending cargo to the consumer, days.

As mentioned above, the general standard of working capital at the enterprise is equal to the sum of the standards for all elements. The general norm of all working capital in days is established by dividing the general norm of working capital by the average daily output of marketable products at production cost.

Rationing working capital solves two main problems. The first is to constantly maintain the necessary correspondence between the size of the enterprise's working capital and the need for funds to ensure the minimum required reserves of material assets. This means that for each enterprise it is necessary to establish a standard, the use of which would allow the enterprise, during normal economic activity, not to experience financial difficulties to ensure the reproduction process. Another task is more complex: to manage the size of inventories based on rationing. Rationing is intended to stimulate the improvement of economic activity, the search for additional reserves and the formation of a reasonable combination of supply methods, etc. The first stage of rationing is the development of stock standards for each element of working capital. Rationing of working capital involves determining the norms of their stock in days and the norms of working capital in monetary terms as a whole, including for each element. Working capital standards are determined by the operating conditions of the enterprise, namely: the duration of the production cycle; time to prepare materials for production; the procedure for processing and using waste, the territorial location of suppliers; frequency and uniformity of deliveries, size of supplied batches of materials and products; system and form of payments, other conditions of supply and sales. When establishing working capital standards, the following indicators are used: volume of production and sales of products; production costs; norms of working capital by type of inventory, expressed in days. The internal needs of the enterprise - the buyer of raw materials and materials - are determined on the basis of data on production volume, product sales and information on costs at the enterprise. The enterprise's need for working capital depends on external conditions, namely on the work of suppliers and transport; for this purpose, the working capital rate in days is calculated. Rationing of working capital is carried out according to three main positions: rationing of working capital for raw materials, materials, purchased products; rationing of working capital for work in progress; rationing of working capital for finished products. The rate of working capital for raw materials, materials and purchased products is calculated as the sum of the time: the stay of material assets paid for by the enterprise in transit (transport stock); necessary for unloading, delivery of material to the enterprise, acceptance and storage; necessary to prepare materials for production; presence of materials in the current and insurance stocks. The first element of the working capital norm for raw materials, basic materials and purchased products - transport stock - includes the presence of materials in transit from the moment the supplier's invoice is paid until the cargo arrives at the consumer's warehouse. Over a certain period of time, material assets are withdrawn from the sphere of production - the supplier sent them to the consumer and can no longer use them, and the buyer has not yet received them and, accordingly, does not have the opportunity to consume them (this is especially significant if there is a a number of intermediaries). It is during the period of diversion of material assets from the production sector that working capital is required for the supplier and the consumer.

For the supplier - for the period from shipment until payment by the buyer, for the consumer - from the moment of payment until the materials arrive at the buyer's warehouse. During the shipment of products by the supplier, there is a simultaneous movement of material assets by various modes of transport (material flow) and payment documents (document flow), and the movement of material assets and payment documents may not coincide in time and most often does not coincide. The following options are possible: the enterprise receives payment documents, pays the cost of raw materials, materials, semi-finished products before the receipt of material assets. In this case, he needs a certain amount of working capital to pay for material assets that will be in transit for some time; payment documents and material assets arrive at the same time; material assets arrive earlier than payment documents. In the second and third cases, the company does not need working capital to pay for materials in transit. The size of the transport stock is calculated based on the cost of materials in transit and the daily consumption of materials according to reporting data. The second element of time, which makes up the working capital norm for raw materials, basic materials and purchased products, is the time required for receiving, unloading, sorting and storing materials. As a rule, it is determined by technical standardization of these operations or timing. This norm depends on: the specifics of logistics, organization of loading and unloading operations and other similar factors. In addition, this indicator is greatly influenced by the type of materials and the features of their design. The most difficult thing is to calculate the residence time of materials and raw materials in the current and safety stocks. Current inventories are the main part of the working capital norm. Current (warehouse) stock is a constant supply of materials fully prepared for launch into production. Its purpose is to ensure uninterrupted production activities of the enterprise. The amount of stock depends on the frequency of deliveries of this type of raw material and material. Another element of the working capital norm is the reserve or safety stock, which should neutralize the influence of random factors on the turnover of these funds. It is designed to ensure uninterrupted operation of the enterprise in case of violation of the deadline or the established volume of deliveries, in the event of receipt of supplies that do not comply with regulatory documents, or incomplete materials. In economic and methodological literature, it is recommended to calculate the safety stock norm at 50% of the current stock norm. The working capital rate for each type of materials is calculated by adding the number of days obtained for each element that exceed the number of days of inventory. To estimate the cost of working capital norms, it is necessary to multiply the number of days by the average daily consumption of this type in value terms. Work in progress includes products at various stages of processing - from the launch of raw materials, supplies and components into production to the acceptance of finished products by the technical control department. Work in progress is determined by the amount of advanced funds invested in the costs of raw materials, main and auxiliary materials, fuel, electricity, depreciation and other expenses. All these costs for each product increase as you move along the technological chain. The amount of working capital diverted in work in progress depends on the duration of the production cycle, the cost of manufactured products and the rate of increase in costs during the production process. Determining the size of working capital in work in progress is the most difficult part of calculating the full amount of working capital. The rate of working capital employed in work in progress (Nnp) is calculated as:

where Zsd - average daily costs, rub.; Tdts is the duration of the production cycle for the manufacture of this product, days; k is the cost increase coefficient. The production period, or the duration of the production cycle, is determined by the time that passes from the start of production of the first machine part put into production until the acceptance of the finished machine by the technical control department (QC). With a uniform increase in production costs, the cost increase coefficient is calculated using the formula:

where Zmp - planned costs for basic materials; Zpr - other cost elements; C is the planned cost per unit of production.

The final element of the working capital norm is the working capital norm for finished products. This includes products completed in production, accepted by the quality control department and delivered to the finished goods warehouse. The rate of working capital for finished products is determined by the time from the moment the products are accepted into the warehouse until they are paid for by the customer and depends on the time required for: acceptance of finished products from the workshops; completing and selecting products to the size of the shipment and in the range corresponding to orders, orders, contracts; packaging, product labeling; delivery of packaged products from the enterprise warehouse to the railway station, pier, etc.; loading products into vehicles; storage of products in a warehouse. Working capital standard (Ngp) in finished product inventories in the warehouse:

where Psd is the average daily output of each product at production cost, rub.; Ngpd - working capital norm, days.

24. Turnover of working capital. Working capital turnover indicators*

The efficiency of using working capital is determined mainly by their turnover indicators. The significance of accelerating the turnover of working capital is as follows:

1). Accelerating turnover, all other things being equal, makes it possible to ensure the same volume of products sold, using less funds.

2). Accelerating turnover allows you to get more profit.

3). Accelerating turnover allows you to reduce the need for borrowed funds, or use the freed funds for highly profitable short-term investments.

4). Accelerating turnover allows you to increase the profitability of current assets.

Indicators

1). Turnover ratio (turnover rate) – expresses the number of turnovers made by working capital during the analyzed period. The rapid turnover of funds allows enterprises, even with a small volume of production, to receive significant profits from current activities.

This coefficient is calculated as the ratio of the volume of produced (sold) products in value terms to the average balance of working capital.

2). Turnover period (or duration of one turnover of working capital)

It is calculated as the ratio of the number of days in the analyzed period to the turnover ratio.

3). Working capital consolidation coefficient (load factor) is the inverse coefficient of the turnover ratio and shows how much working capital is accounted for per 1 ruble of manufactured or sold products.

4). The effect of accelerating the turnover of working capital is reflected in the indicators of their release or additional involvement in turnover.

The absolute release of working capital occurs when the production program is fulfilled or exceeded. The relative release of working capital is calculated using the following formula:

25. Labor resources, personnel and personnel of the enterprise.

Personnel of an enterprise is the main composition of qualified employees of an enterprise, company, or organization. Typically, enterprise personnel are divided into production personnel and personnel employed in non-production departments.

Production personnel - workers engaged in production and its maintenance - make up the bulk of the enterprise's labor resources.

The most numerous and basic category of production personnel are workers of enterprises (firms) - persons (workers) directly engaged in the creation of material assets or work to provide production services and move goods. Workers are divided into main and auxiliary. The main workers include workers who directly create commercial products of enterprises and are engaged in the implementation of technological processes, i.e., changing the shape, size, position, condition, structure, physical, chemical and other properties of objects of labor.

Auxiliary workers include workers engaged in servicing equipment and workplaces in production shops, as well as all workers in auxiliary shops and farms.

Auxiliary workers can be divided into functional groups: transport and loading, control, repair, tool, housekeeping, warehouse, etc.

Managers are employees holding management positions at the enterprise (director, foreman, chief specialist, etc.).

Specialists - workers with higher or secondary specialized education, as well as workers who do not have special education, but occupy a certain position.

Employees – workers who prepare and process documents, accounting and control, and business services (agents, cashiers, clerks, secretaries, statisticians, etc.).

Junior service personnel - persons occupying positions in the care of office premises (janitors, cleaners, etc.), as well as in servicing workers and employees (couriers, delivery boys, etc.).

The ratio of different categories of workers in their total number characterizes the personnel structure of an enterprise, workshop, or site. The personnel structure can also be determined by such characteristics as age, gender, level of education, work experience, qualifications, degree of compliance with standards, etc.

The professional and qualification structure of personnel is formed under the influence of the professional and qualification division of labor. A profession is usually understood as a type (kind) of work activity that requires certain training. Qualification characterizes the extent to which workers have mastered a given profession and is reflected in qualification (tariff) categories. Tariff categories and categories are also indicators characterizing the level of complexity of work. In relation to the nature of the professional preparedness of workers, such a concept as a specialty is also used, which determines the type of work activity within the same profession (for example, the profession is a turner, and the specialties are a lathe-borer, a turner-carousel operator). Differentiation in specialties for the same working profession is most often associated with the specifics of the equipment used.

26. Quantitative characteristics of the personnel composition of the enterprise.
The quantitative characteristics of the enterprise's personnel are measured by indicators of the payroll, average and attendance numbers of employees.

The payroll reflects the movement of the number of all employees - hiring and dismissal from it, etc. It takes into account all permanent and temporary employees, including employees on business trips and vacations, hired on a part-time or part-time basis, as well as those with whom labor relations have been established. To determine the number of employees for a specific period, the average number of employees is calculated, which is used in calculating average labor productivity, average wages, staff turnover, etc. To calculate it, accounting data from working time sheets is used.

Turnout refers to the number of workers who are actually at work during a certain day.

Determining the number of personnel

Determination of personnel requirements at an enterprise (firm) is carried out separately by groups of industrial and non-industrial personnel. The initial data for determining the number of employees are: production program; time, production and maintenance standards; nominal (real) working time budget for the year; measures to reduce labor costs, etc.

The main methods for calculating quantitative personnel requirements are calculations based on the labor intensity of the production program; production standards; service standards; jobs.

1. Calculation of the standard number (Nch) for the labor intensity of the production program.
When using this method, the total labor intensity of the production program (ltr. floor) is determined as the sum of the labor intensity of technological (ltr. tech.), maintenance (ltr. obs.) and management (ltr. control): ltr. floor. = ltr. those. +ltr. obs.

Ltr. ex. The sum of the first two terms reflects the labor costs of main and auxiliary workers and, accordingly, forms the actual production labor intensity (ltr. pr.), and the third reflects the labor costs of employees.
2. According to production standards. Loс = Qvyp / (Nв* Teff), where Qvyp is the volume of work performed in accepted units of measurement; Nв - planned production rate per unit of working time; Teff is the effective working time fund.

3. According to service standards. used to determine the number of key workers whose activities are difficult to regulate. This applies to workers who operate units, furnaces, devices, machines and other equipment and control the progress of technological processes. The average number of workers is calculated using the formula: Lр =n* Lр. ag* h *(Ts.pl. / Ts.f.), where n is the number of working units; Lр. ag. - the number of workers required to service one unit during a shift; Ts. pl. - number of days of operation of the unit as planned

period; Shh. f. - actual number of days of work.

4. By workplace it is used when planning the number of those groups of auxiliary workers for which neither the volume of work nor service standards can be established, since their work is performed at certain

workplaces and is associated with a specific service object (crane operator, storekeeper, etc.). In these cases, the calculation is carried out according to the formula: Lvs = Nm * h * ksp, where Nm is the number of jobs; h - number of shifts per day; ksp - payroll coefficient.

The number of service personnel can also be determined by aggregated service standards, for example, the number of cleaners can be determined by the number of square meters of premises, wardrobe attendants - by the number of people served, etc. The number of employees can be determined based on the analysis of industry average data, and in their absence - according to the standards developed by the enterprise. The number of managers can be determined taking into account controllability standards and a number of other factors.

27. Qualitative characteristics of the personnel of the enterprise
The qualitative characteristics of the personnel of an enterprise are determined by the structure of personnel, the degree of professional and qualified suitability of workers to achieve the goals of the enterprise and perform the work it performs.
When determining the personnel structure, employees engaged in the main and non-core activities are distinguished. Employees of the enterprise directly related to the main activity (production) represent the industrial production personnel of the enterprise. In addition to them, at any enterprise there are employees who are not directly related to the core activities of the enterprise, that is, they are engaged in non-core activities (employees of healthcare institutions, public catering, culture, trade, subsidiary agricultural facilities, etc.). Workers engaged in non-core activities constitute non-production personnel of the enterprise.
Employees of industrial production personnel include workers of main, auxiliary, auxiliary and service workshops (see below), research, design, technological organizations and laboratories, plant management, services engaged in major and current repairs of equipment and vehicles. Industrial production personnel are divided into workers and employees.
Workers include people directly involved in the production of material assets, as well as servicing this production. Workers are divided into main and auxiliary. The main workers are busy working in the divisions of the main production that produce core products, while the auxiliary workers are in the auxiliary, secondary, service, and ancillary divisions that ensure the uninterrupted operation of all departments (inter-shop, intra-shop transport, warehousing, etc.) .

Employees include workers in the following three categories: managers, specialists and actual employees. Managers are considered to be the employees who head the enterprise and its structural divisions, as well as their deputies and chief specialists (chief accountant, chief engineer, chief mechanic, chief technologist, chief power engineer, chief metallurgist, chief metrologist, etc.). Specialists include workers performing engineering, technical, economic, accounting, legal and other similar activities. The actual employees include workers who prepare and process documentation, accounting and control, and business services (timekeepers, bookkeepers, secretaries, office clerks, etc.). Along with the structure of personnel, the quality indicators of personnel include the professional and qualification suitability of personnel, which is determined by the profession, specialty and level of qualifications of enterprise employees. A profession is a special type of activity that requires certain theoretical knowledge and practical skills. A specialty is a type of activity within one profession that has specific characteristics and requires additional special knowledge and skills from workers) A high degree of qualification is fixed by assigning the employee the appropriate qualification categories (tariff categories), which characterize not only the complexity of the work performed within the profession and specialty, but also the degree of remuneration through tariff coefficients corresponding to tariff categories (the higher the tariff category, the higher the tariff coefficient and wages). At a specific enterprise, the professional qualification structure is reflected in a special document, approved annually by the head of the enterprise and representing a list of positions and specialties for each division (department, workshop, site, etc.). This document is called the staffing table.

1) Working capital standards for raw materials, basic materials and purchased semi-finished products calculated on the basis of their average daily consumption ( R SUT), equal to the ratio of the corresponding quarterly (annual) production costs for 90 (360) days, and the average stock rate in days ( 3D).

The rate of working capital for each type or homogeneous group of materials takes into account the time spent in the current ( Z TEK), insurance ( W PAGE), transport ( Z TR), technological ( Z TECH) and preparatory ( Z UNDER) stocks.

Current stock – the main type of stock necessary to ensure uninterrupted operation of the enterprise between two next deliveries. It is defined as the product of the average daily flow ( R SUT) for the interval between deliveries ( AND):

Z TEK = P SUT · I,

For example, if the average daily consumption is 8 thousand rubles, the delivery interval is 16 days, then Z TEK = 8 · 16 = 128 thousand rubles. The current stock reaches its maximum value at the time of the next delivery. As it is used, it decreases and by the next regular delivery it is completely consumed.

When calculating current inventories, the most labor-intensive process is establishing the delivery interval, that is, the interval between two next deliveries. In case of untimely receipt of material, i.e. if actual interval And fAK exceeds plan And PL, the production process may be suspended due to its absence. To avoid this, a safety stock is created.

Safety stock is defined as the product of the average daily material consumption P SUT for a gap in the supply interval (AND FACT - AND PL), divided by two:

Z STR = P SUT · (AND FACT - AND PL) · 0.5.

In case of an aggregated assessment, it can be taken in the amount of 50% of the current stock. In cases where an industrial enterprise is located far from transport routes or non-standard, unique materials are used, the safety stock rate can be increased to 100%. When supplying materials under direct contracts, safety stock is reduced to 30%.

The occurrence of safety stock is due to a violation in the supply of materials on the part of the supplier. If this violation is associated with a transport organization, a transport stock is created, which includes those working capital that are frozen from the day the supplier's invoice is paid until the cargo arrives at the warehouse. Transport stock is calculated in the same way as safety stock:

Z TR = P SUT · (AND FACT - AND PL) · 0.5.

Technological stock is created in cases where incoming material assets do not meet the requirements of the technological process and undergo appropriate processing before being put into production. This stock is taken into account if it is not part of the production process. For example, when preparing for production, some types of raw materials require time for drying, heating, grinding, etc.

Technological reserve is calculated as the product of the material manufacturability coefficient TO THOSE for the amount of inventories (current, insurance and transport):

Z TECH = (Z TEK + W PAGE + Z TR) ·TO TECH.

The material's manufacturability coefficient is established by a commission consisting of representatives of suppliers and consumers.

General working capital standard for a certain type of material is calculated:

N M = Z TEK + W PAGE + Z TR + Z TECH.

2) Working capital standard for auxiliary materials is calculated in the same way as the standard for raw materials. When using a wide range of auxiliary materials, at least 50% of the annual consumption should be calculated. Other auxiliary materials are determined on the basis of consumption for the past year and actual balances.

3) Working capital standard for spare parts is established based on actual consumption per 1 thousand rubles. the cost of all equipment by dividing the working capital standard by the book value of the equipment.

For large unique equipment, the working capital standard for spare parts is calculated using the direct counting method for each part, taking into account its service life and price using the formula:

,

Where IN- number of mechanisms (equipment) of one name, pcs.; n- number of parts of the same name in each mechanism, pcs.; D- norm of stock of parts, days; TO- reduction factor; T- service life of the part; C- price of the part, rub.

4) Working capital standard for work in progress reflects the cost of products at different stages of the production process - from launch into production to release of finished products.

The presence of work in progress at an enterprise is a necessary condition for ensuring its uninterrupted operation.

Enterprises usually plan the amount of work in progress at the minimum required levels to ensure continuity of the production process. If the actual WIP requirement is underestimated, an unfavorable situation develops at the enterprise, expressed in a slowdown in the production process and frequent shutdowns of the enterprise. This leads to an increase in the duration of the production cycle and, accordingly, the duration of the turnover of both working capital and, in general, the working capital of the enterprise, which worsens the financial condition of the enterprise. If the need for work in progress is overestimated, the costs of creating inventories and storing products increase, which entails an increase in the overall costs of the enterprise, a partial depletion of working capital, as well as a deterioration in the overall financial condition of the enterprise.

The working capital standard for the formation of inventories of work in progress includes all costs for manufactured products - this is the cost of raw materials, main and auxiliary materials, fuel, labor costs, electricity, water, steam, etc. As a result, expenses in work in progress consist of the cost of unfinished products, semi-finished products of own production, as well as finished goods not accepted by the technical control service.

The amount of inventory in work in progress depends on four factors: the volume and composition of products produced, the duration of the production cycle for manufacturing products and the nature of the increase in costs during the production process. The first three factors influence the volume of work in progress in direct proportion.

The amount of inventory in work in progress is calculated using the following formula:

N NP = Q C D K NZ, = C ODN D K NZ,

Where Q- quantity of products produced per day (t., l., pcs., etc.);

WITH- cost per unit of production, rub.;

WITH ONE- one-day production costs, rub.;

D- duration of the production cycle in calendar days;

To NC- cost increase coefficient, characterizing the level of product readiness as part of work in progress.

When determining the impact on the amount of work in progress of the cost increase coefficient ( To NC) all costs in the production process are divided into one-time costs, i.e. costs incurred at the beginning of the production cycle (raw materials, basic materials, etc.) and increasing costs (depreciation, wages, steam, water, energy, etc.). Costs increase in the production process evenly and unevenly. With a uniform increase in costs, the coefficient is calculated as follows:

, Where Z P- initial costs; Z O- other costs; Z- the sum of all costs (Z P + Z O);

Let's assume that the duration of the production cycle is 10 days, the daily production of goods is 100 units, the cost of raw materials for the production of a unit of goods is 100 rubles. Labor costs and other variable costs are determined at 50 and 20 rubles. Raw materials are fully included in the production process from the very beginning, and the remaining costs arise evenly throughout the entire production cycle, so they are determined in half, i.e. (50 + 20) : 2 = 35 rub. In this case, the working capital standard in work in progress is:

N NP = 10 days. 100 units (100 + 35) = 135,000 rub.

If all costs, including the cost of raw materials, arise evenly, then in this case 1/2 of all costs will be included in the calculation of the cost of work in progress.

In our example (100 + 50 + 20): 2 = 85 rub. Then the work in progress standard is:

N NP = 10 days. 100 units 85 = 85,000 rub.

5) Deferred expenses include costs incurred in a given year, and repaid, i.e. included in the cost of production, in subsequent years. They are uneven in nature. Consequently, their write-off at the time of implementation is inappropriate, since this may lead to incomparability of products valued at cost. Therefore, future expenses are reimbursed from the enterprise’s own working capital. These include the costs of developing new types of production and new types of products, including other expenses.

The working capital standard for future expenses is determined by the formula:

N BP = O N + Z B.PL – Z S.PL

Where HE- balance of expenses at the beginning of the planned year;

Z B.PL- deferred expenses incurred in the planned year;

Z S.PL- part of the expenses that is written off as cost in the planned year.

6) When determining standard of working capital in finished product inventories time for selection, packaging, storage, loading, processing of payment documents, accumulation of products to transit standards, delivery, etc. is taken into account. The necessary working capital for maintaining inventories of finished products is calculated as the product of the planned cost of the average daily output of marketable products by the time from the beginning of their receipt to the warehouse before departure from the station, taking into account the time for processing transport and payment documents.

Standard for finished products :

N GP = B · Z GP,

Where IN- one-day production release. It is equal to the quotient of dividing the corresponding quarterly (annual) production costs (according to the planned cost of marketable products) by 90 (360) days;

Z GP- the stock norm in days for a given element of working capital.

Aggregate working capital ratio at an enterprise is equal to the sum of standards for all elements and determines the overall need of an economic entity for working capital.

Where NOSE- aggregate standard; N OS i- private standard

But the composition of working capital (capital) necessary for an enterprise to implement normal business conditions includes, along with regulated working capital, also non-standardized ones.

The main elements of non-standardized working capital are: goods shipped; funds in accounts receivable and other settlements arising due to the specifics of settlements, forms and speed of cargo movement; cash; short-term financial investments in securities. Non-standardized working capital cannot be taken into account in advance and calculated like normalized working capital. However, enterprises have the opportunity to influence their value and manage these funds using financial management methods (settlements, loans).

A significant share in the non-standardized working capital of enterprises producing products is occupied by funds in goods shipped. This circumstance is due to the fact that finished products located in the warehouse, in accordance with contractual terms, including delivery dates, are shipped to consumers. As part of the goods shipped, three groups of goods can be distinguished: the first - goods shipped, the payment period for which has not yet arrived; the second - goods shipped but not paid for on time by the buyer; third - goods in the custody of the buyer. The availability of the first group of goods is normal, it is fleeting. After these deadlines, the goods are paid for and the funds are credited to the supplier’s bank account. The last two groups indicate a lack of funds from the buyer or the latter’s refusal to pay, which leads to overdue debts from buyers to suppliers and to the diversion of funds from circulation, slowing down their turnover with the supplier.

Accounts receivable- one of the components of non-standardized working capital, which indicates a temporary diversion of working capital from the turnover of the enterprise. Therefore, the company strives to completely reduce accounts receivable. Accounts receivable includes the debt of customers incurred during mutual or unilateral settlements; debtors for claims or debts due to violation of contractual obligations; debt of tax authorities to enterprises when taxes are overpaid to the budget. A significant share of accounts receivable is made up of debt from buyers when paying for shipped products after payment terms have expired. The high share of this type of debtors, which has an extremely negative value, predetermines the accounting of this debt in the group of goods shipped.

The company needs to monitor the status of accounts receivable, determine the degree of risk for doubtful debts, and identify insolvent customers.

Funds in other settlements as part of non-standardized working capital arise for reasons not directly related to production activities, which leads to the diversion of funds from their main purpose (for example, overexpenditures on bonus funds and reserves, shortages from loss and damage to property and other similar costs).

Cash- the most important component of non-standardized working capital, with which their circulation ends and a new one begins. Funds are usually stored in the company's current account, since the vast majority of payments are made by bank transfer, as well as in small amounts held at the company's cash desk. Cash must be present in a certain amount as part of non-standardized working capital, otherwise the enterprise may be declared insolvent.

The amount of standardized and non-standardized working capital determines the total need of the enterprise for working capital.

Based on an economically justified standard of working capital, it is possible to organize working capital in such a way that in the process of using it, every ruble invested in turnover provides maximum return. In addition, the application of this standard makes it possible to analyze the state and level of use of working capital, to ensure a system of control over them and the normal economic activity of an industrial enterprise, subject to constant sources of covering working capital.

The working capital norm in industrial inventories includes the following elements:

· time spent by the company paid for materials in transit ( transport stock), days;

· time for acceptance, unloading, sorting, warehousing and preparation for production ( preparatory or technological stock), days;

· time spent in the warehouse in the form of shift, daily and similar stock ( current stock), days;

· time spent in the warehouse in the form of a guarantee stock ( safety stock), days

Inventory standard(N pz) can be determined by the formula

where Q cy t – average daily consumption of materials (consumption rate);

NTR – standard transport stock, days;

N PZ – norm of preparatory (technological) stock, days;

N T З – current stock norm, days;

N ctp – safety stock norm, days.

Average daily consumption raw materials, basic materials, purchased products and semi-finished products are calculated in groups, and in each group their most important types are identified, which constitute approximately 80% of the total cost of material assets of this group.

Data for calculating the average daily consumption of material resources are given in table. 4.

The average daily consumption of material resources is calculated by dividing the sum of all planned annual expenses of raw materials, basic materials, purchased products and semi-finished products (972 million rubles) by the number of working days in a year (360 days conditionally), i.e. R = 972 / 360 = 2700 rub.

Transport stock norm calculated by direct counting or analytical method. The direct counting method is used when there is a narrow range of consumable material resources coming from a limited number of suppliers. In this case, based on the results of the previous period, the average duration of cargo travel from the supplier to the consumer is determined, which is the norm for transport stock. With a large number of suppliers and a wide range of consumable material resources, the standard of transport stock is determined by an analytical method based on the standard of the previous period.

Norm of preparatory stock. Preparatory (technological) stock is created in cases where incoming material assets do not meet the requirements of the technological process and undergo appropriate processing before launching into production. Technological stock is calculated as the product of the material manufacturability coefficient Ktech by the amount of stocks (current, insurance and transport):

TechZ = (TZ + SZ + TrZ) Ktech.

The material's manufacturability coefficient is established by a commission consisting of representatives of suppliers and consumers.

Table 4

Calculation of average daily consumption of materials

Current stock norm. Current (warehouse) stock is a constant supply of materials fully prepared for launch into production. It is designed to ensure uninterrupted production activities of the enterprise. The amount of this stock depends on the frequency (interval) of deliveries of this type of material. Half of the weighted average interval between deliveries is taken as the current stock norm.

Safety stock norm. An insurance (warranty) stock of materials is created in case of violation of delivery terms or volumes, or in the event of receipt of low-quality or incomplete materials. The safety stock norm is usually set at 50% of the current stock norm.

Example The calculation of the working capital standard in production inventories is given in Table 5.

Table 5

An example of calculating the standard of working capital in production inventories

Rationing of working capital in work in progress

Working capital in work in progress is advanced to create cyclical, working and insurance reserves that ensure the uninterrupted progress of the production process in workshops and areas. In physical terms, work in progress balances consist of the required number of parts, assemblies and semi-finished products at workplaces and between them. The size of work in progress is determined by the following factors:

· volume of products;

· duration of the production cycle;

· coefficient of increase in costs (product readiness) in
work in progress.

Product output volume affects the size of work in progress through the value of one-day production, calculated at cost. The volume of production is determined on the basis of existing consumer orders and sales forecasts.

Production cycle time determines the duration of funds remaining in work in progress (inventory rate in days). The production cycle is measured in calendar time units (days, hours, minutes) and contains the following elements; working period, natural processes, breaks. The composition and relationship between the individual elements of the production cycle characterize its structure.

Cost increase factor(Knz) characterizes the level of product readiness as part of work in progress. The need to calculate the cost increase coefficient is due to the fact that costs in work in progress are incurred at different times. They are usually divided into one-time and other costs. Non-recurring costs include the consumption of raw materials, basic materials, and semi-finished products. Other costs (wages, depreciation, overhead, etc.) increase gradually throughout the cycle. The coefficient is calculated as the ratio of the cost of work in progress to the planned cost of the product and takes into account the duration of the production cycle. If costs increase unevenly, use the formula:

where Зi are the costs for the i-th period of time on an accrual basis (i = 1, 2, ..., n);

C is the planned cost of the product;

T is the duration of the full production cycle of a product in calendar time units (days, weeks, months).

Example. Product cost - 1000 rubles. The duration of the production cycle is 4 days. Costs on the 1st day - 300 rubles, on the 2nd day -300 rubles, on the 3rd day - 200 rubles, on the 4th day - 200 rubles. Determine the cost increase factor.

Norm of working capital in work in progress calculated for the enterprise as a whole or by divisions with subsequent summation. To do this, use the formula:

where Nnp is the rate of working capital in work in progress for the enterprise as a whole;

Ti is the duration of the production cycle of a product or department;

Ki is the coefficient of increase in costs of a product or division;

n - number of product groups, divisions.

Working capital standard for work in progress calculated by the formula:

where C/T is the rate of one-day production at planned cost;

C is the total cost of manufactured products;

T is the number of calendar days in the period.

Example. We use the data from the previous example to calculate the rate of working capital in work in progress.

Rationing working capital solves two main problems. The first is to constantly maintain correspondence between the size of the enterprise's working capital and the need for funds to ensure the minimum required reserves of material assets. This task links the dependence of the volume of working capital on the level of inventories. It is understood that for each enterprise it is necessary to establish such a standard so that during normal economic activities it does not experience financial difficulties to ensure the production and sales process. Another task is more complex: through rationing it is necessary to manage the size of inventories. Rationing is intended to stimulate the improvement of economic activity, the search for additional reserves, the formation of a reasonable combination of forms of supply, etc.

According to the principles of organization, working capital is divided into standardized and non-standardized.

Non-standardized working capital includes products shipped, in transit, but not paid for; funds in the current account, at the cash desk. The level of these groups of working capital is influenced to a greater extent by external factors than by the production and economic activities of the enterprise. The legislative framework, as the basis of the contractual supply system, should help reduce the amount of unpaid supplies.

Standardized working capital includes all groups of current production assets - these are inventories, work in progress, deferred expenses; from the sphere of circulation - finished products in warehouse.

The amount of standardized working capital must always correspond to the real needs of production. The enterprise determines the minimum but sufficient need for each of these groups of working capital and controls their level at each stage of movement, since large reserves of material assets require the diversion of funds from other purposes; warehouses, security, and accounting are necessary. If the standard is underestimated, the enterprise will not be able to provide production with the necessary supplies, pay suppliers, workers, employees, etc. on time. When the standard is overestimated, significant excess reserves arise, funds are frozen, which leads to losses. An overestimated standard contributes to a reduction in the level of profitability and an increase in the amount of payment for an increase in the value of the enterprise’s property.

Rationing of working capital is the process of establishing norms and standards for a regulated group of working capital.

In the process of rationing working capital, the norm and standard of working capital are determined.

The working capital norm is a relative value corresponding to the minimum, economically justified stock of inventory assets, established in days.

The working capital standard is the minimum required amount of funds to ensure the economic activities of the enterprise.

When determining the optimal need for working capital, the amount of money that will be advanced to create inventories, work-in-progress reserves and accumulation of finished products in the warehouse is calculated. Several methods are used for this:

• - analytical;
• - coefficient;
• - direct account.

The essence of the analytical or experimental-statistical method is that when analyzing existing inventory items, their actual inventories are adjusted and excess and unnecessary values ​​are eliminated.

With the coefficient method, adjustments are made to the standard of the previous period for the planned change in production volumes and for the acceleration of turnover.

Analytical and coefficient methods can be used in those enterprises that have been operating for more than a year, have formed a production program and organized the production process, have statistical data for previous years and do not have a sufficient number of qualified specialists for more detailed work in the field of working capital planning.

The direct counting method involves calculating inventories for each element of working capital. This method is used when organizing a new enterprise and periodically clarifying the working capital needs of an existing enterprise.

General standards of own working capital are determined in the amount of their minimum requirement for the formation of reserves of raw materials, materials, fuel, work in progress, deferred expenses, finished products.

The general working capital standard consists of the sum of private standards:

Ntotal = Npz + Nnp + Ngp + Nbr, where (1.1.)

Refinery - production reserve standard;

Nnp - work-in-progress standard;

Ngp - finished product standard;

Nbr - standard for future periods.

The production inventory standard depends on the average daily consumption of raw materials, fuel materials and the stock standard in days:

Нпз = Рс * Тдн, where (1.2.)

Рс - average daily consumption of raw materials or materials

(in hryvnia);

Тдн - stock norm in days.

The average stock norm in days is calculated in general as a weighted average of the working capital stock norms for individual types.

The stock norm in days for a particular type is made up of the following components:

Tdn = Ttr + Ttek + Tstr + Tseason (1.3.)

Ttr - transport stock is established according to the duration of travel time of cargo from the supplier to the consumer, taking into account the time of document flow;

Ttek - current warehouse stock;

Tstr - insurance (warranty stock);

Tseason - seasonal stock.

The size of working capital employed in work in progress depends on the duration of the production cycle, the cost of manufactured products and the rate of increase in costs during the production process. The rate of working capital employed in work in progress is calculated as:

Nnp = Ssr * Tts * Kn, (1.4.)

where Сср - average daily production at cost, UAH;

Tc - duration of the production cycle for manufacturing a given product, days;

Kn - cost increase coefficient.

The cost increase coefficient is calculated using the formula:

Kn = (M + 0.5 Рн)/С, where (1.5.)

M-planned costs for basic materials;

Рн - other cost elements;

C is the planned cost per unit of production.

The next element of the working capital standard is the working capital standard for finished products, which includes products for which the production cycle has ended, they have been accepted by the technical control department and delivered to the finished goods warehouse. The rate of working capital for finished products is determined by the time from the moment the product is accepted into the warehouse until it is paid by the customer and depends on a number of factors:

• - the order of shipment and the time required for acceptance of finished products from the workshops;
• - the time required for completing and selecting products to the size of the shipped batch and in the assortment according to orders, orders, contracts;
• - time required for packaging and labeling of products;
• - time required to deliver packaged products from the warehouse

enterprises to the railway station, pier, etc.;

• - time of loading products into vehicles;
• - storage time of products in the warehouse.

Working capital standard in finished product inventories (NGP) in the warehouse:

Ngp = Vd * Ng, where (1.6.)

Vd - one-day production of each product at production cost, UAH;

Ng - working capital norm, days.

Deferred expenses include expenses incurred in a given year, and repaid, that is, included in the cost of production in subsequent years. They are uneven in nature. Consequently, writing them down at the time of implementation is inappropriate, since this may lead to incomparability of products valued at cost. Therefore, future expenses are covered from the enterprise’s own working capital. These include the costs of developing new types of production and new types of products, including other expenses.

The working capital standard for deferred expenses (Nrbp) is determined by the formula:

Nrbp=He+Zb.pl-Zs.pl, where (1.7)

It is the balance of expenses at the beginning of the planned year;

Zb.pl - deferred expenses incurred in the planned year;

Zs.pl - part of the expenses, which in the planned year is written off as cost.

The sum of working capital standards calculated for all groups forms the enterprise’s total need for working capital for the planned year. Then the enterprise determines the sources of their coverage (financing).

Calculation of working capital standards is labor-intensive work. With a constant range of products and stable prices for raw materials, materials, and components, enterprises adjust the previous year's standard to change the volume of production.

An economically justified working capital standard makes it possible to organize working capital in such a way that, in the process of their use, every hryvnia invested in turnover provides maximum return. This standard makes it possible to analyze the state and level of use of working capital, to ensure a system of control over them and the normal economic activity of an industrial enterprise, subject to constant sources of covering working capital.