SAMARA STATE ECONOMIC ACADEMY

Department of Industrial Economics

Test

at the rate: Enterprise Economics

on the topic : The fixed capital of the enterprise.

performed : student of the faculty of the second higher education, specialty finance and credit, 4 courses

Shapovalova Galina Vyacheslavovna

accepted : Zirkin Anatoly Ivanovich.

Samara 1998

I. Introduction.

II. The fixed capital of the enterprise, its composition and structure.

III. Assessment and accounting of fixed assets.

IV. Depreciation and amortization of fixed capital. Capital leasing.

V. Indicators of the use of fixed capital.

Vi. Conclusion.
I. Introduction.

Of course, in order for the normal functioning of the enterprise to occur, it is necessary to have certain funds and sources. The main production assets, consisting of buildings, structures, machinery, equipment and other means of labor, which are involved in the production process, are the most important basis of the company's activities. Without their presence, hardly anything could come true.

Rational and economical use of fixed assets is the primary task of the enterprise.

Having a clear idea of each element of fixed assets in the production process, of their physical and moral wear and tear, of the factors that affect the use of fixed assets, it is possible to identify methods by which the efficiency of using fixed assets and production capacities of the enterprise increases, ensuring a decrease in production costs and, of course, an increase in labor productivity.
II . The fixed capital of the enterprise, its composition and structure.

Main capital is the monetary value of fixed assets.

Fixed assets industrial enterprises are a set of material values created by social labor, participating in the production process for a long time in an invariable natural form and transferring their value to manufactured products in parts as they wear out.

There are several classifications of fixed assets.

Depending on the nature of the participation of fixed assets in the sphere of material production, they are divided into:

-production fixed assets (machinery, equipment, hydraulic structures - dams, canals, reservoirs; transport structures - bridges, roads, tunnels; power grids, pipelines, etc.). They function in the production process, constantly participate in it, wear out gradually, transferring their value to finished product, they are replenished at the expense of capital investments;

-non-productive fixed assets (residential buildings, kindergartens, schools, baths, laundries, and other objects of domestic and cultural purposes, health care, etc.) They are intended to serve the production process, and therefore do not directly participate in it, and do not transfer their value to product because it is not produced; they are reproduced at the expense of the national income.

Fixed assets - the most important and predominant part of all funds in industry (meaning fixed and circulating assets, as well as circulation funds). They determine the production capacity of enterprises, characterize their technical equipment, are directly related to labor productivity, mechanization, automation of production, production costs, profits and the level of profitability.

According to existing classification In terms of their composition, fixed assets of industry, depending on the intended purpose and functions performed, are divided into the following types:

Structures;

Transfer devices;

Machinery and equipment, including:

Power;

Workers;

Measuring and regulating items;

Computer Engineering;

Vehicles;

Instruments;

Production inventory and accessories;

Other fixed assets (draft animals, perennial plantations).

Each group consists of many different types of different means labor. There are three subgroups in the building group: industrial buildings, non-industrial buildings and housing. The structures are divided into underground, oil and gas wells, and mine workings. Transmission devices include pipelines and water pipes. Power machines are turbines, electric motors. Work machines and equipment are subdivided according to the industries of use. Tools and inventory are considered as part of fixed assets only if they serve more than one year and cost more than 300 rubles 5 (if less, then these are already low value and wearing out items and are included in the working capital).

Buildings and structures for industrial purposes, transmission devices, machinery and equipment, vehicles form fixed assets for production purposes .

The ratio of individual groups of fixed assets in their total volume is specific (production) structure of fixed assets ... Depending on direct participation in the production process, production fixed assets are divided into: active(serve the crucial areas of production and characterize the production capabilities of the enterprise) and passive(buildings, structures, inventory, ensuring the normal functioning of the active elements of fixed assets).

Basically, the mass of production fixed assets in industry is concentrated in the active part.

The composition and structure of fixed assets depend on the specifics of the industry specialization, technology and organization of production, technical equipment. The structure of fixed assets can be different by industry and within a single industry due to the same reasons.

For a better use of fixed assets in the process of their operation, it is necessary to keep a clear record of the availability and movement of fixed assets at the enterprise. This accounting should provide knowledge of the total value of fixed assets, their dynamics, the degree of their influence on the level of production costs and others.

III . Assessment and accounting of fixed assets.

Accounting for fixed assets in monetary terms is made to establish the depreciation of fixed assets of the industry and the calculation of monetary amounts corresponding to the depreciation (depreciation deductions), to take into account the dynamics, structure of fixed assets, determine the cost of production and the profitability of the enterprise.

Due to the duration of the functioning of fixed assets, their gradual depreciation and changes during this time in the conditions of reproduction, there are several methods for assessing fixed assets: according to the initial (balance sheet), replacement, residual, liquidation and average annual cost of fixed assets.

1. Initial cost of fixed assets - is the cost (price) of the acquisition of this type of fixed assets; shipping costs for delivery; the cost of installation, commissioning, etc. This value is expressed in prices in effect at the time of acquisition of this object, and on the basis of its value, the enterprises register the elements of fixed assets, record them on the balance sheet of the enterprise, as a result of which it is also called the book value of fixed assets.

2. In connection with the duration of production functioning and under the influence of growth in labor productivity, the price of fixed assets created in different time, may decrease (this is possible in normal economic conditions, with a low inflation rate).

To eliminate the distorting influence of the price factor, fixed assets are evaluated according to their replacement value , that is, at the cost of their production in today's conditions.

In modern conditions, with a high level of inflation, as never before, there is a need for periodic revaluation of fixed assets and determination of their replacement cost, corresponding to real economic circumstances.

However, with this method, as with the valuation at historical cost, it is impossible to establish the degree of depreciation of fixed assets. At the same time, such an assessment is very difficult due to the necessary revaluation of all elements of fixed assets. Therefore, such an assessment is carried out only periodically.

3. Residual value represents the difference between the original cost and the accrued depreciation (the cost of fixed assets not transferred to the finished product). For new enterprises being commissioned, the valuation of fixed assets using this method is the same as the valuation at historical cost. For existing ones, it will be less than the initial cost by the amount of depreciation of fixed assets.

It allows you to judge the degree of wear and tear of labor instruments, plan the renewal and repair of fixed assets. There are two types of residual value: 1) it is determined by the initial cost, determined as depreciation is calculated, 2) by the replacement cost, determined by expert analysis in the process of revaluation of labor instruments.

Assessment based on replacement cost, taking into account depreciation, makes it possible to determine the actual value of existing fixed assets, as well as to compare the volumes of fixed assets of individual enterprises in the industry.

5. Liquidation value - this is the cost of selling worn-out and discontinued fixed assets (often the price of scrap).

6. Average annual cost fixed assets are determined on the basis of the initial cost, taking into account their entry and liquidation according to the following formula:

F s = F p (b) + F cv * ChM / 12 - F l (12-M) / 12,

where Ф с - the average annual cost of fixed assets;

F p (b) - the initial (book) cost of fixed assets;

F cc - the cost of the funds introduced;

CHM - the number of months of functioning of the introduced fixed assets;

Ф l - liquidation value;

M is the number of months of functioning of the retired fixed assets.

The monetary value of fixed assets is reflected in the accounting at the initial (balance sheet), replacement, full and residual value.

I V . Depreciation and amortization of fixed capital. Capital leasing.

Fixed assets are exposed physical and moral deterioration both in the process of their use and in inactivity. In the latter case, the physical wear and tear of fixed assets consists in their loss of properties under the influence of atmospheric conditions, as well as as a result of internal processes occurring in the structure of the material from which they are made.

At physical wear and tear there is a loss of fixed assets of their use value, i.e. deterioration of technical, economic and social characteristics under the influence of the labor process, the forces of nature, as well as due to the non-use of fixed assets.

A significant share of obsolete fixed assets in production causes significant losses, since, firstly, aging of equipment requires an increase in investment in capital repairs to maintain it in working order; secondly, outdated production does not have the ability to use new technology - at least completely. As a result, the volume of products and services decreases.

The size of physical depreciation of fixed assets in the process of their use is influenced by many factors, including:

1) the degree of load of fixed assets in the production process. However, it should be borne in mind that increasing the degree of load on fixed assets is economically feasible, since promotes a better use of fixed assets and a decrease in the cost of production, since a unit of production accounts for a smaller part of the depreciation of fixed assets.

2) the quality of fixed assets; whether the equipment is stationary or portable, portable wears out faster.

3) features of the technological process and the degree of protection of fixed assets from the influence of external conditions;

4) the quality of maintenance of fixed assets;

5) strict adherence to technological regimes, technically competent operation of machinery and equipment.

Machines, machine tools and other types of fixed assets are not only physically worn out, but also become backward in their technical characteristics and cost-effectiveness. They are exposed obsolescence .

There are two forms of obsolescence:

The first expresses a decrease in the cost of a machine or equipment without corresponding physical wear and tear due to a reduction in the cost of their reproduction;

The second is a decrease in cost as a result of the introduction of new, more productive machines or equipment, caused not by a decrease in productivity or power, but by the fact that the further operation of old machines in comparison with new ones leads to high production costs.

Obsolescence of the first type is associated not with the duration of the equipment service life, not with the degree of its physical deterioration, but with the rate of technical progress, leading to a decrease in the cost of manufacturing products due to an increase in labor productivity in the industry producing new fixed assets.

With obsolescence of the first type, the use value of fixed assets does not change. In new machines, similar to the old ones, there are no design changes; the performance of the equipment also remains the same. Only the replacement cost of fixed assets changes.

It is important to prevent the obsolescence of funds.

Prevention of obsolescence of fixed assets, first of all, refers to their passive part: buildings, structures, communications. They are much more durable than hardware. Therefore, their decisions should take into account the subsequent replacement of technologies and equipment.

Correct establishment wear rate major foundations have essential to determine the replacement cost of fixed assets and the amount of depreciation charges that economically compensate for depreciation.

Depreciation of fixed assets is determined and accounted for by all enterprises, regardless of the form of ownership for all types of fixed assets, regardless of whether they are depreciated or not.

For individual objects of fixed assets, the amount of depreciation is established as necessary based on the data available in the inventory cards on the initial or replacement cost of the object, the standard time it was in operation and the applicable depreciation rates.

The depreciation amount for fully depreciated fixed assets is not charged.

Depreciation is reflected by enterprises and organizations based on the established uniform rates of depreciation deductions.

Physical depreciation is determined based on the service life of fixed assets:

Out. (F) = T f / T n * 100%,

where T f is the actual service life (years);

Т n - standard service life (years).

Obsolescence of the first type is determined based on the ratio of book and replacement values :

Out. (m1) = (F b -F c) / F b * 100%,

where Ф б - book value (thousand rubles);

Ф в - replacement cost (thousand rubles).

Obsolescence of the second type is most often determined based on a comparison of equipment performance:

Out. (m2) = (Avenue 2-Avenue 1) / Avenue 2*100%,

where Ex. 1 - the productivity of existing fixed assets;

Ex. 2 - productivity of new fixed assets.

However, this does not take into account the savings in raw materials and materials or the savings in labor, which can be provided by new fixed assets. Therefore, for a more accurate accounting of the second type of obsolescence, one should compare fixed assets and production costs, applying following formula:

Out. (m2) = (Edition 2-Edition 1) / Edition 2*100%,

where Izd. 1 - production costs of operating fixed assets (rubles);

Edition 2 - production costs of new fixed assets (rubles).

The main production assets, participating in the production process, transfer their value in parts to the finished goods produced or services rendered.

The value transferred to products is determined by:

1) the initial value of fixed assets;

2) the type of fixed assets;

3) industry specificity of production.

Main functions of depreciation - This is the provision of reproduction, the restoration of fixed assets and accounting. Fixed assets accounting cards reflect data on depreciation and determine the amount of depreciation of fixed assets for the years of their operation.

Also, depreciation to a certain extent also performs a stimulating function, providing for the fullest use of fixed assets: the longer the period of operation of the equipment, the more products are produced and the sooner the cost of fixed assets will be transferred. This will reduce their underdepreciation due to obsolescence and reduce the losses of the enterprise, which is very important in market conditions.

The monetary expression of the transferred part of the value of fixed assets is called depreciation charges ... Depreciation deductions are included in the cost of production (production costs).

The amount of depreciation deductions is determined according to the depreciation rates from the initial (book) cost of fixed assets, taking into account their service life.

Accordingly, the depreciation rate is calculated using the formula:

H a = (F p (b) - F l) / (F p (b) * t w) * 100%,

where Na is the rate of depreciation of fixed assets per year (%),

F p (b) - the initial (book) cost of fixed assets,

F l) - liquidation value,

t w - standard service life of fixed assets.

The depreciation rate is the annual percentage of the depreciation of the value of fixed assets.

In a number of industries, depending on technological features production, mode and shift of equipment operation and other factors, depreciation rates can be raised or downgraded .

In the conditions of market relations, the amount of depreciation deductions has a significant impact on the economy of the enterprise. On the one hand, a too high proportion of deductions increases the value of production costs, and, consequently, reduces the competitiveness of products, reduces the volume of profits and therefore reduces the range of capabilities of the enterprise in terms of its economic level of development.

On the other hand, the underestimated share of deductions lengthens the turnover period of funds invested in the acquisition of fixed assets, and this leads to their aging and, as a consequence, to a decrease in competitiveness, loss of their positions in the market.

Depreciation deductions are calculated using the direct account method based on the average annual cost of certain types of fixed assets and the established depreciation rates.

They are calculated for each type of fixed assets for overhaul and for full recovery fixed assets.

Depreciation deductions for the full restoration of the active part of fixed assets (machinery, equipment, vehicles) are made during the standard service life of fixed assets or the period for which the book value of these funds is fully transferred to the costs of production and circulation.

All other fixed assets are depreciated for full restoration over their actual useful lives.

There is a classification of depreciation methods. First, the uniformly straight-line method can be distinguished.

At uniformly rectilinear method there is a uniform write-off of the value of fixed assets during the established period of its service.

In addition to uniform (linear), in world practice, methods are used accelerated (regressive) depreciation ... Accelerated depreciation methods during the first half of the standard service life of fixed assets make it possible to recover up to 60 - 75% of their value, while using the straight-line method only 50% of the value of fixed assets would be reimbursed. In the second half of the service life of fixed assets, the amount of depreciation decreases.

Among the methods of accelerated depreciation are:

Double rate method;

Cumulative.

In our country, the double rate method is used, when the depreciation rate approved in the established manner for the corresponding inventory object increases, but not more than 2 times.

Enterprises can apply the accelerated depreciation method in relation to fixed assets used to increase the output of computer technology, new advanced types of materials, instruments and equipment, expand the export of products, in cases where they replace worn-out and obsolete equipment (while the standards are coordinated with state financial authorities). This method does not apply to machines and equipment with a standard service life of up to 3 years, to unique equipment designed only for the production of a limited range of products.

Recently in developed countries a new method of accelerated write-off of the cost of cars is used - a combination of methods of regressive and progressive depreciation.

An enterprise that needs to upgrade its equipment or to expand its fleet of equipment has 2 options: to purchase equipment or to rent it. One of the types of lease is leasing.

Leasing - this is a type of entrepreneurial activity aimed at investing temporarily free or attracted financial resources, when, under a financial lease (leasing) agreement, the lessor (lessor) undertakes to acquire ownership of the property stipulated by the agreement from a certain seller and provide this property to the lessee (lessee) for a fee for temporary use for business purposes.

The main difference between leasing and other types of lease is that property is leased that was not previously used by the lessor, but specially acquired by him for the purpose of transferring it to the lessee for use.

Leasing is classified according to the following criteria. According to the composition of participants, leasing can be direct or indirect. By type of property - movable and real estate. In terms of degree - with full and incomplete payback. Depending on the conditions of depreciation - with full and incomplete depreciation. In accordance with the last two features, financial and operational leasing are distinguished. By the volume of servicing
property leasing - leasing can be “clean” (without maintenance), with a full range of services or with a partial range of services. Depending on the market sector, there are internal (within one country) and external (international) leasing.

Financial leasing is most typical for Russia. It is characterized by the fact that the period for which the agreement is concluded between the lessor and the lessee coincides in duration with the period of the equipment depreciation, i.e. during the lease term, the entire value of the property is paid.

Operational leasing differs in that the term of the contract is shorter than the service life of the equipment. The lessor reimburses only part of the cost of the equipment during the term of the contract. In this case, the residual value of the equipment remains high, and the lessor bears an increased risk of reimbursing this cost (especially in the absence of demand for it), since he has to hand it over for use several times.

Leaseback is a special case of direct leasing. With this type of leasing, the owner of the property sells it to the lessor and at the same time concludes a contract for the use of this property. That is, the seller and the lessee are one and the same legal entity. This type of leasing is especially effective for companies with a difficult financial situation. It is profitable for an enterprise in need of property to sell it to a leasing company and continue to use it. This does not exclude the possibility of subsequent repurchase of the property.

Leasing at residual value is applied to equipment already in operation. In this case, the leased object is valued at its residual value, which reduces the costs of the lessee.

Leasing has many advantages, some of them can be listed:

First, it enables companies to modernize and organize new production without mobilizing large financial resources.

Second, for small and medium-sized firms, leasing is often the only viable way to finance their investments.

Thirdly, it exempts the tenant from the procedures and costs associated with owning property (for example, from property tax).

Fourth, it allows you to include in the cost of products, works, services interest on borrowed funds, including bank loans used by leasing entities to carry out financial leasing operations, as well as lease payments.

Fifth, it allows you to reduce income tax, since lease payments from the lessee are expensed.

The effectiveness of leasing is confirmed by practice in the USA, England, Germany and other countries of the market economy. In Russia, leasing is under development.

V . Indicators of the use of fixed capital.

With the existing technical level and structure of fixed assets, an increase in output, a decrease in production costs and an increase in enterprises' savings depend on the degree of their use.

All indicators of the use of fixed assets can be grouped into three groups:

Indicators extensive use fixed production assets, reflecting the level of their use over time;

Indicators intensive use fixed assets, reflecting the level of use by capacity (productivity);

Indicators integral use fixed production assets, taking into account the cumulative influence of all factors - both extensive and intensive.

The first group of indicators includes: the coefficient of extensive use of equipment, the coefficient of equipment shift operation, the equipment load factor, the coefficient of the shift mode of the equipment operation time.

Equipment Extensive Use Ratio (Kekst) is determined by the ratio of the actual number of hours of equipment operation to the number of hours of its operation according to the plan:

K ext = t ob.f. / t rpm,

where t rpm- the actual operating time of the equipment, h;

t ob.pl- the operating time of the equipment according to the norm (set in accordance with the operating mode of the enterprise and taking into account the minimum time required for scheduled preventive maintenance), h.

To ext shows how much the planned equipment time was used.

Equipment shift factor is defined as the ratio of the total number of machine-tool shifts worked out by equipment of this type during the day to the total number of machine tools assigned to the enterprise.

K c = t c. / N,

where - t with actually worked number of machine-tool shifts per day;

N - the total number of machines in the fleet.

Equipment load factor also characterizes the use of equipment over time. It is installed for the entire fleet of vehicles that are in the main production. It is calculated as the ratio of the labor intensity of the manufacture of all products on a given type of equipment to the fund of its operation time. The equipment load factor, in contrast to the shift factor, takes into account data on the labor intensity of products. In practice, the load factor is usually taken equal to the value of the shift factor, reduced by two times (with a two-shift mode of operation) or three times (with a three-shift mode).

Based on the shift indicator of the equipment, it is calculated and coefficient of use of the shift mode of the operating time of the equipment ... It is determined by dividing the equipment shift ratio achieved in a given period by the shift duration set at a given enterprise (shop).

K see p. = K s / t s,

where K s is the coefficient of use of the shift mode of the operating time of the equipment;

t s - the duration of the shift.

In addition to intra-shift and day-to-day downtime, it is important to know how efficiently the equipment is used during the hours of its actual load. This problem is solved by calculating indicators of intensive use of fixed assets , reflecting the level of their use in terms of power (productivity). The most important of these is the rate of equipment intensive use.

Equipment intensive use ratio is determined by the ratio of the actual performance of the main technological equipment to its normative performance, i.e. progressive, technically sound performance.

To int. = B f / B n,

where In f - the actual production of products by the equipment per unit of time;

B n - the technically justified production of products by the equipment per unit of time (determined on the basis of the equipment passport data).

The third group of indicators of the use of fixed assets includes the coefficient of integral use of equipment, the coefficient of use production capacity, indicators of capital productivity and production assets.

Integral utilization factor equipment is defined as the product of the coefficient of intensive and extensive use of equipment and comprehensively characterizes its operation in terms of time and productivity (power). The value of this indicator is always lower than the values of the previous two, since it takes into account both the disadvantages of both extensive and intensive use of equipment.

The result of the better use of fixed assets is, first of all, an increase in the volume of production. The generalizing indicator of the efficiency of fixed assets is based on the principle of commensuration of production products with the entire set of fixed assets used in its production. This is an indicator of the output per 1 ruble of the cost of fixed assets - return on assets. To calculate the value of return on assets, the following formula is used:

F ods = T / F,

where T is the volume of commodity or gross, or products sold, rub.;

Ф - the average annual cost of the basic production assets of the enterprise, rubles.

Capital intensity of production - the inverse of the return on assets. It shows the share of the cost of fixed assets attributable to each ruble of manufactured products. If capital productivity should tend to increase, then capital intensity - to decrease.

Vi. Conclusion.

The efficient use of fixed assets is a very important national economic task. Its solution means an increase in the production of products necessary for society, an increase in the return of the created production potential and a more complete satisfaction of the needs of the population, an improvement in the balance of equipment in the country, a decrease in the cost of production, an increase in the profitability of production, the company's savings.

Distinguish extensive and intensive factors of improving the use of fixed assets.

Extensive improvement the use of fixed assets involves:

1) an increase in the work of the existing equipment in the calendar period. This is possible due to:

Reduction and elimination of in-shift equipment downtime by improving the quality of equipment repair service, timely provision of main production with labor force, raw materials, fuel, semi-finished products;

Reduction of all-day equipment downtime, increase of the shift ratio of its work.

2) increase specific gravity operating equipment as part of all equipment available at the enterprise, due to:

Reducing the amount of unnecessary equipment;

Rapid involvement in production of unidentified equipment.

The possibilities for an intensive way of improving the use of fixed assets are much wider.

Intense improvement assumes an increase in the degree of equipment utilization per unit of time. This is achieved by:

1) modernization of existing machines and mechanisms, establishment of the optimal mode of their operation;

2) technical improvement of tools and production technologies;

3) reduction of terms of achievement of design productivity of equipment;

4) improving the scientific organization of labor, production and management;

5) the use of high-speed methods of work;

6) advanced training and professional skills of workers;

7) improving the structure of fixed assets.
Literature:

1. V.Ya. Gorfinkel "Enterprise Economics", M, 98g.

2. V.P. Gruzinov, V.D. Gribov "Enterprise Economics", M, 97

3. M.M. Goldin, L.N. Sukhinin "Obsolescence of fixed assets of enterprises in the conditions of scientific and technological revolution", М, 86

4. Itin L.I. “Economy of social. industry ”, M,

5. Sat. Normative documents"On the composition of costs and uniform rates of depreciation", M, 95

6. E.K. Smirnitsky "Economic indicators of industry", Moscow, 89

7. “Rent and leasing”, (series “Accounting today”), M, 97
Problem number 14.

1.Costs for materials (cast iron):

Part weight - 100 kg

The cost of pig iron is 8,600 thousand rubles / ton.

Waste from one piece - 12%

Part costs = 112 kg * 8.6 thousand rubles / t = 963.2 thousand rubles

Waste disposal

Waste volume from part = 100 kg * 0.12 = 12 kg

The cost at which the waste is sold = 100 thousand rubles / t

The cost of waste from one part = 12 kg * 0.1 thousand rubles / kg = 1.2 thousand rubles.

Mat. Costs per part = 963.2-1.2 = 962 thousand rubles .

2. Labor costs:

turners - 2.5 h * 25.350 t. rub. = 63.375 t. rub.

milling operators - 3.6 h * 30.600 t. rubles = 110.16 t. rubles.

drillers - 2.4 h * 21.860 t. rubles. = 52.464 t. rubles.

Total: RUB 225,999 t.

Salary with accruals (39%) = 225.999 + 225.999 * 0.39 = RUB 314,139 .

3. Workshop costs (160%) = 314.139 * 1.6 = 502.622 thousand rubles.

4. Factory-wide (120%) = 314.139 * 1.2 = 376.967 t. Rub.

5. Total production costs: 962 + 314.139 + 502.622 + 376.967 = 2155.728 thousand rubles.

6. Non-production (4%) = 2155.728 * 0.04 = 86.229 t. Rub.

7. Full cost price = 2155.728 + 86.229 = RUB 2,241.957

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Introduction
Section 1. The essence of capital
3.2 The state of fixed capital in the developed countries of the world
3.3 Comparative characteristics and analysis of the depreciation of fixed capital in Ukraine and other countries
Conclusion
Literature

Introduction

Having a clear idea about each element of fixed assets in the production process, about their physical and moral wear and tear, about the factors that affect the use of fixed assets, it is possible to identify methods by which the efficiency of using fixed assets and production capacities of the enterprise increases, ensuring a decrease in production costs and, of course, an increase in labor productivity.

Fixed capital (fixed assets) is the main component of the capital of firms in most industries, primarily in the real sector.

Represents the cost of labor instruments that are reused in business process without changing its material-natural form. The features of the reproduction of fixed capital are determined by a number of characteristic features, which include:

· Gradual transfer of the value of fixed capital to the value of manufactured products; movement in use value;

· Turnover of the cost of capital;

· Partial reproduction of value and finished products and their accumulation in monetary form;

fixed capital Ukraine depreciation

· Renewal of fixed capital in material-natural form after more or less long periods of time, which creates the possibility of maneuvering by means of the depreciation fund.

Funds advanced for the acquisition of fixed capital are called fixed assets. In the composition of fixed productive capital, the active and passive parts are distinguished. The active part of fixed capital directly affects the product, determines the scale of its production and the level of labor productivity of workers. The passive part of fixed capital includes buildings, structures, transmission devices, etc. The division of fixed capital into active and passive to a certain extent conditionally depends on the specifics of the functions performed by the industry.

Section 1. The essence of capital

In economic theory, different content is invested in the concept of "capital".

Capital is a certain amount of goods in the form of material, monetary and intellectual means used as a resource in further production. Therefore, capital is the sum of so-called capital goods, i.e. goods for the production of other goods. Fixed capital (fixed assets) is the main component of the capital of firms in most industries, primarily in the real sector.

Mercantilists believe that " capital"is a self-increasing value. At the same time, they associated the accumulation of wealth with the sphere of circulation without taking into account any labor costs associated with the creation of goods.

A. Smith and D. Riccardo associate capital with labor costs. Smith believes that capital acts as accumulated labor, D. Riccardo as means of production, physiocrats consider land as capital.

In Marxist economics, capital is the most important criterion the entire system of social production. K. Marx connects the concept of "capital" with the exploitation of hired ore. Capital is the relationship between capitalists and wage laborers who create surplus value in the process of exploitation. Consequently, capital is a value that, through the exploitation of hired labor, brings surplus value, that is, it grows itself. Thus, surplus value is the source of capital self-expansion. According to Karl Marx's definition, capital appears in three forms:

· Constant capital (in the form of means of production);

· Money capital (in the form of money);

· Commodity capital (in the form of goods).

In addition, according to the method of creating surplus value, K. Marx divided capital into constant (means of production, which in the production process transfer their value to the finished product in a changed form) and variable (capital in the form of the value of labor power, which changes its value in the production process). , increases by the amount of surplus value).

The division of capital into constant and variable is of great theoretical importance. Constant and variable capital are fundamentally different from each other in their role in the production of surplus value. Constant capital serves only as a prerequisite for the creation of surplus value, while variable capital creates surplus value. Without clarifying the division of capital into constant and variable, it is impossible to correctly understand the mechanism of production of surplus value.

From these positions, it is possible to reveal the dual nature of labor in capitalist production. Hired workers create new value with their living labor and transfer the value of the means of production to the product. This dual result, achieved at the same time, explains the dual nature of labor. The abstract labor expended by hired workers creates new value. Its value does not depend on quality, but only on the amount of labor expended by workers.

At the same time, by spending specific labor, the wage laborer transfers the value of the elements of constant capital to the product and creates use value. Moreover, this transfer of value depends on the quality side of labor.

Thus, thanks to the labor of hired workers, capitalists can simultaneously maintain their constant capital and extract surplus value.

1.1 The modern interpretation of capital in Western economic literature

P. Samuelson defines capital as capital goods produced by the economic system itself in order to use them for the further production of other goods and services. In his opinion, such capital goods can function for both a long and a short period of time. D. Bezhg, S. Fischer, R. Dornbusch characterize capital as physical capital, which acts in the form of laws of production goods. They refer to physical capital, in addition to material goods for production purposes, non-production structures - school buildings that provide services, as well as family needs for durable goods, for example, a television that delivers entertainment. They propose to distinguish it from the "physical capital" of the firm " financial capital", which acts in the form of money and securities.

U. Baumal and A. Blinder define capital as reserves (stocks) of an enterprise, equipment or other production resources owned by firms or other organizations.

K. McConnell and S. Brue adhere to a similar position. Capital is man-made resources used to produce goods, goods that do not directly satisfy human needs.

J. Robinson connects the concept of capital with money. She believes that capital, when not invested, appears in the form Money.

The American economist T. Schultz is one of the authors of the theory of "human capital". He believes that education is one of the forms of human capital (human because it becomes a part of a person, and capital because it determines the source of future income and earnings). For the first time the concept of "capital" was extended to a person by the Russian lexicographer V. Dal. He noted that "abilities, titles and labor can also be called capital, as well as the very health or strength of the worker."

The capital problem is directly related to entrepreneurial activity. Capital begins to function when it is invested in production, therefore, in order for capital to start generating income, it is necessary, firstly, to materialize capital, turn it into factors of production, and secondly, to organize production in the form of an enterprise, organization, firm.

At present, in connection with the spread of the joint-stock form of ownership, money capital is coming to the fore, the income of which is in the form of interest. In this regard, the concept of "capitalized value" of capital goods is used. It is directly related to the level of the interest rate. If the level of the interest rate falls, then the capitalized value rises.

1.2 Fixed capital of the enterprise, its composition, structure and analysis

Basic capital is the monetary value of fixed assets.

Basic capital- this is a part of productive capital, consisting of the means of labor, which are wholly involved in the production process during a whole series of circuits, but the value of which is transferred to the finished product in parts, as the means of labor wear out, and fully returns to the capitalist in monetary form only after several circuits.

The fixed assets of an industrial enterprise are a set of material values created by social labor, participating in the production process for a long time in unchanged natural form and transferring their value to manufactured products in parts as they wear out.

Fixed assets are represented primarily by buildings and structures, transmission devices, machinery, equipment and instruments, vehicles, tools, household durables, and intangible assets.

Fixed assets largely determine the production potential of a firm (industry, the whole country), i.e. the ability to produce (release) for a certain time period a certain amount of products of the required assortment and quality. In relation to enterprises (firms) in the sphere of material production, they often speak of their production capacity (production capacity).

There are several classifications of fixed assets. Depending on the nature of the participation of fixed assets in the sphere of material production, they are divided into:

production fixed assets (machinery, equipment, hydraulic structures - dams, canals, reservoirs; transport structures - bridges, roads, tunnels; power grids, pipelines, etc.). They function in the production process, constantly participate in it, wear out gradually, transferring their value to the finished product, they are replenished at the expense of capital investments;

non-production fixed assets (household and cultural facilities, etc.). They are intended to serve the production process, and therefore do not directly participate in it, and do not transfer their value to the product, because it is not produced; they are reproduced at the expense of the national income.

The main foundations- the most important and predominant part of all industrial funds (meaning fixed and circulating funds, as well as circulation funds). They determine the production capacity of enterprises, characterize their technical equipment, are directly related to labor productivity, mechanization, automation of production, production costs, profits and the level of profitability.

According to the existing classification, industrial fixed assets in terms of their composition, depending on the intended purpose and functions performed, are divided into the following types:

building;

structures;

transmission devices;

machinery and equipment, including:

(power, work, measuring and regulating items, Computer Engineering, others);

vehicles;

instruments;

production inventory and accessories;

other fixed assets (draft animals, perennial plantations).

Each group consists of a variety of different tools. The building group is divided into three subgroups: industrial buildings, non-industrial buildings and housing. The structures are divided into underground, oil and gas wells, and mine workings. Transmission devices include pipelines and water pipes. Power machines are turbines, electric motors. Work machines and equipment are subdivided according to the industries of use. Tools and inventory are taken into account as part of fixed assets only if they serve more than one year and cost more than UAH 1000, if less, then these are already low-value and wearing out items and are included in the working capital.

Buildings and structures for industrial purposes, transmission devices, machinery and equipment, vehicles form the fixed assets of industrial purposes.

The ratio of individual groups of fixed assets in their total volume represents the specific (production) structure of fixed assets. Depending on direct participation in the production process, the production fixed assets are divided into: active (they serve the decisive areas of production and characterize the production capabilities of the enterprise) and passive (buildings, structures, inventory, ensuring the normal functioning of the active elements of fixed assets).

Basically, the mass of production fixed assets in industry is concentrated in the active part.

The composition and structure of fixed assets depend on the specifics of the industry specialization, technology and organization of production, technical equipment. The structure of fixed assets can be different by industry and within a single industry due to the same reasons.

For the best use of fixed assets in the process of their operation, it is necessary to keep a clear record of the availability and movement of fixed assets of the enterprise. This accounting should provide knowledge of the total value of fixed assets, their dynamics, the degree of their influence on the level of production costs and others.

Fixed assets are accounted for in statistics using the balance of fixed assets. He is statistical table, the data of which characterize the volume, structure, reproduction and use of fixed assets. The analysis of fixed assets is carried out in many areas, including:

1. Analysis of fixed assets by technological and age structure. The technological structure shows the relationship between the so-called active part of funds (working machines and equipment directly involved in the production of products) and their passive part (buildings, structures, etc.). The age structure of the funds characterizes them in terms of service life.

2. Analysis of the value of fixed assets using various approaches. When evaluating fixed assets at book value, the cost of fixed assets is taken as the basis when registering them, more precisely, at the time of initial recording in the balance of fixed assets or its subsequent correction. As a result, the carrying amount is a mixed estimate of fixed assets, since one part of them is still recorded at historical cost (i.e. acquisition cost), while the other has already been revalued and is recorded at the so-called replacement cost.

Moreover, both the initial and replacement cost can be both full, i.e. at the time of purchase, or the next revaluation, and residual, i.e. minus depreciation or with additions from modernization and reconstruction.

3. Analysis of renewal, retirement and depreciation of fixed assets, which are characterized by appropriate ratios. Moreover, in the analysis, not only the values of each of these coefficients are important, but also the difference between them. For example, when the renewal rate is high and the retirement rate is low, the share of old funds in the firm increases. With the opposite combination, the volumes of fixed assets are reduced.

Coefficient wear and tear- this is the share in the fixed assets of those funds whose age exceeds the standard time frame.

4. Analysis of the efficiency of the use of fixed assets, which is characterized by a number of coefficients, including such as:

return on assets;

capital intensity of fixed capital.

1.3 Valuation and accounting of fixed assets

The accounting of fixed assets in monetary terms is carried out to establish the depreciation of fixed assets of the industry and accrual

sums of money, respectively, depreciation (depreciation), to take into account the dynamics, structure of fixed assets, determine the cost of production and the profitability of the enterprise.

Due to the duration of the functioning of fixed assets, their gradual depreciation and changes during this time in the conditions of reproduction, there are several methods for assessing fixed assets: according to the initial (balance sheet), replacement, residual, liquidation and average annual cost of fixed assets.

1. The initial price major funds- is the cost (price) of the acquisition of this type of fixed assets; shipping costs for delivery; the cost of installation, commissioning, etc. This value is expressed in prices in effect at the time of acquisition of this object, and on the basis of its value, the enterprises register the elements of fixed assets, record them on the balance sheet of the enterprise, as a result of which it is also called the book value of fixed assets.

2. In connection with the duration of production functioning and under the influence of growth in labor productivity, the price of fixed assets created at different times may decrease (this is possible in normal economic conditions, with a low inflation rate).

To eliminate the distorting influence of the price factor, fixed assets are evaluated according to their replacement cost, that is, according to the cost of their production in today's conditions.

To determine the replacement cost,

revaluation of fixed assets using two main methods:

1) by indexing their book value;

2) by direct recalculation of the book value in relation to the prices formed on January 1 of the next year.

In modern conditions, with a high level of inflation, as never before, there is a need for periodic revaluation of fixed assets and determination of their replacement cost, corresponding to real economic circumstances.

However, with this method, as with the valuation at historical cost, it is impossible to establish the degree of depreciation of fixed assets. At the same time, such an assessment is of considerable difficulty due to the necessary revaluation of all elements of fixed assets. Therefore, such an assessment is carried out only periodically.

3. Ostattic price represents the difference between the original cost and the accrued depreciation (the cost of fixed assets not transferred to the finished product). For new enterprises being commissioned, the valuation of fixed assets using this method is the same as the valuation at historical cost. For existing ones, it will be less than the initial cost by the amount of depreciation of fixed assets.

It allows you to judge the degree of wear and tear of labor instruments, plan the renewal and repair of fixed assets. There are two types of residual values:

1) it is determined at the initial cost, determined as depreciation is charged,

2) at the replacement cost, determined by expert advice in the process of revaluation of labor instruments.

Assessment based on replacement cost, taking into account depreciation, makes it possible to determine the actual value of existing fixed assets, as well as to compare the volumes of fixed assets of individual enterprises in the industry.

4. Liquidation price- this is the cost of selling worn-out and discontinued fixed assets (often the price of scrap).

5. Average annual price fixed assets are determined on the basis of their initial cost, taking into account their commissioning and liquidation.

The monetary value of fixed assets is reflected in the accounting at the initial (balance sheet), replacement, full and residual value.

Section 2. Physical and moral deterioration of fixed capital

Fixed assets are subject to physical and moral deterioration both in the process of their use and in inactivity. Consider the characteristics of depreciation, its types, depreciation and leasing, indicators of the use of fixed capital and its renewal.

2.1 Physical depreciation of fixed capital

Physical wear the main capital- this is the loss of their use value. With physical wear and tear, fixed assets lose their use value, i.e. deterioration of technical, economic and social characteristics under the influence of the labor process, the forces of nature, as well as due to non-use of fixed assets. With the inaction of fixed capital, physical wear consists in the loss of their properties under the influence of atmospheric conditions, as well as as a result of internal processes occurring in the structure of the material from which they are made.

Physical wear determined based on the service life of fixed assets.

The size of physical depreciation of fixed assets in the process of their use is influenced by many factors, including:

1) the degree of load of fixed assets in the production process. However, it should be borne in mind that increasing the degree of load on fixed assets is economically feasible, since promotes a better use of fixed assets and a decrease in the cost of production, since a unit of production accounts for a smaller part of the depreciation of fixed assets.

2) the quality of fixed assets; whether the equipment is stationary or portable, portable wears out faster.

3) features of the technological process and the degree of protection of fixed assets from the influence of external conditions;

4) the quality of maintenance of fixed assets;

5) strict adherence to technological regimes, technically competent operation of machinery and equipment.

Machines, machine tools and other types of fixed assets are not only physically worn out, but also become backward in their technical characteristics and economic efficiency.

a) Depreciationthe maincapital. Herthe mainfunctions.

The main functions depreciation- This is the provision of reproduction, the restoration of fixed assets and accounting. Data on depreciation are reflected in the accounting cards of fixed assets, and the amount of depreciation of fixed assets for the years of their operation is determined.

The monetary expression of the transferred part of the value of fixed assets is called depreciation deductions. Depreciation deductions are included in the cost of production (production costs).

The amount of depreciation deductions is determined according to the depreciation rates from the initial (book) cost of fixed assets, taking into account their service life.

Norm depreciation is the ratio of the annual amount of depreciation charges to the average annual cost of fixed production capital, expressed as a percentage.

The depreciation rate shows how many years the cost of the fixed capital must be recovered. In the conditions of scientific and technological progress, the service life of equipment is reduced, therefore, the problem of accelerated depreciation appears.

In a number of industries, depending on the technological features of production, the mode and shift of equipment operation and other factors, the depreciation rates can be increased or decreased.

On the other hand, the underestimated share of deductions lengthens the turnover period of funds invested in the acquisition of fixed assets, and this leads to their aging and, as a consequence, to a decrease in competitiveness, loss of their positions in the market.

Depreciation deductions are calculated using the direct account method based on the average annual cost of certain types of fixed assets and the established depreciation rates.

They are calculated for each type of fixed assets for overhaul and for the complete restoration of fixed assets.

Depreciation deductions for the full restoration of the active part of fixed assets (machinery, equipment, vehicles) are made during the standard service life of fixed assets or the period for which the book value of these funds is fully transferred to the costs of production and circulation.

All other fixed assets are depreciated for full restoration over their actual useful lives. There is a classification of depreciation methods. First, one can single out uniformly straight method... In the case of a straight-line method, the cost of fixed assets is written off evenly over a specified period of its service. In addition to uniform (linear), in world practice, methods accelerated (regressive) depreciation... Accelerated depreciation methods during the first half of the standard service life of fixed assets make it possible to recover up to 60 - 75% of their value, while using the straight-line method only 50% of the value of fixed assets would be reimbursed. In the second half of the service life of fixed assets, the amount of depreciation decreases.

Among the methods of accelerated depreciation are:

double rate method;

cumulative.

In some countries, the double rate method is used, when the duly approved depreciation rate for the corresponding inventory item is increased, but not more than 2 times.

Method decrease residual cost... The facility is used in the production of various products. Rapid physical and moral (or only moral) deterioration. The need for rapid accumulation of funds for the accelerated renewal of fixed assets.

The accelerated decrease residual cost... The facility is used in the manufacture of a variety of products. Quick physical and moral (or only moral) deterioration. The need for rapid accumulation of funds for the accelerated renewal of fixed assets

Cumulative method... The facility is used in the manufacture of a variety of products. Quick physical and moral (or only moral) deterioration. The need for rapid accumulation of funds for the accelerated renewal of fixed assets. The service life of an object is measured in an integer number of years

Industrial method... The facility is used for the production of one type of product or provides one type of service. Uneven operation of the facility. Economic utility, which is a component of fixed assets, decreases not just over time, but depending on the operation of the facility. Term useful use an object is directly determined by its resource: the number of units of production produced with its help, mileage, hours of work, and the like.

Recently, developed countries have used a new method accelerated write-offs cost machines- a combination of methods of regressive and progressive depreciation.

An enterprise that needs to upgrade its equipment or to expand its fleet of equipment has 2 options: to purchase equipment or to rent it. One of the types of lease is leasing.

b) Leasingthe maincapital. Classificationandpeculiaritiesleasing.

Leasing is a type of entrepreneurial activity aimed at investing temporarily free or attracted financial resources, when, under a financial lease (leasing) agreement, the lessor (lessor) undertakes to acquire ownership of the property stipulated by the agreement from a certain seller and provide this property to the lessee (lessee) for a temporary fee use for business purposes.

The main difference between leasing and other types of lease is that property is leased that was not previously used by the lessor, but specially acquired by him for the purpose of transferring it to the lessee for use.

Leasing is classified according to the following criteria:

1). According to the composition of participants, leasing can be direct or indirect.

2). By type of property - movable and real estate.

3). In terms of degree - with full and incomplete payback.

4). Depending on the conditions of depreciation - with full and incomplete depreciation. In accordance with the last two features, financial and operational leasing are distinguished.

5). In terms of the volume of property maintenance, leasing can be “clean” (without maintenance), with a full range of services or with a partial range of services.

6). Depending on the market sector, there are internal (within one country) and external (international) leasing.

Leasing at residual value is applied to equipment already in operation. In this case, the leased object is valued at its residual value, which reduces the costs of the lessee.

Leasing has many advantages, some of them can be listed:

First, it enables companies to modernize and organize new production without mobilizing large financial resources.

Second, for small and medium-sized firms, leasing is often the only viable way to finance their investments.

Thirdly, it exempts the tenant from the procedures and costs associated with owning property (for example, from property tax).

Fourth, it allows you to include in the cost of products, works, services interest on borrowed funds, including bank loans used by leasing entities to carry out financial leasing operations, as well as lease payments.

Fifth, it allows you to reduce income tax, since lease payments from the lessee are expensed.

2.2 Obsolescence of fixed capital

Moral wear is a loss of value for two reasons:

1) creation of similar, but cheaper means of labor;

2) the release of more productive means of labor at the same price.

Machines, machine tools and other types are subject to obsolescence.

There are two forms of obsolescence:

the first expresses a decrease in the cost of a machine or equipment without corresponding physical wear and tear due to a reduction in the cost of their reproduction;

the second is a decrease in cost as a result of the introduction of new, more productive machines or equipment, caused not by a decrease in productivity or power, but by the fact that the further operation of old machines in comparison with new ones leads to high production costs.

Obsolescence of the first type is associated not with the duration of the equipment service life, not with the degree of its physical deterioration, but with the rate of technical progress, leading to a decrease in the cost of manufacturing products due to an increase in labor productivity in the industry producing new fixed assets.

With obsolescence of the first type, the use value of fixed assets does not change. In new machines, similar to the old ones, there are no design changes, the performance of the equipment also remains the same. Only the replacement cost of fixed assets changes.

It is important to prevent the obsolescence of funds. Prevention of obsolescence of fixed assets, first of all, refers to their passive part: buildings, structures, communications. They are much more durable than hardware. Therefore, their decisions should take into account the subsequent replacement of technologies and equipment.

Correct determination of the degree of depreciation of fixed assets is important for determining the replacement cost of fixed assets and the amount of depreciation charges that economically compensate for the depreciation.

Depreciation of fixed assets is determined and accounted for by all enterprises, regardless of the form of ownership for all types of fixed assets, regardless of whether they are depreciated or not.

For individual objects of fixed assets, the amount of depreciation is established as necessary based on the data available in the inventory cards on the initial or replacement cost of the object, the standard time it was in operation and the applicable depreciation rates.

The depreciation amount is not charged in full with the depreciated fixed assets.

Depreciation is reflected by enterprises and organizations based on the established uniform rates of depreciation deductions.

Moral wear the first of the kind is determined on the basis of the ratio of book and replacement values.

Moral wear second of the kind is most often determined by comparing hardware performance. However, this does not take into account the savings in raw materials and materials or the savings in labor, which can be provided by new fixed assets. Therefore, for a more accurate accounting of the second type of obsolescence, one should compare fixed assets and production costs.

The main production assets, participating in the production process, transfer their value in parts to the finished goods produced or services rendered.

The value transferred to products is determined by:

1) the initial value of fixed assets;

2) the type of fixed assets;

3) industry specificity of production.

a) Indicatorsuse ofthe maincapital.

With the existing technical level and structure of fixed assets, an increase in output, a decrease in production costs and an increase in enterprises' savings depend on the degree of their use.

All indicators of the use of fixed assets can be grouped into three groups:

indicators of extensive use of fixed assets, reflecting the level of their use over time;

· Indicators of intensive use of fixed assets, reflecting the level of use in terms of capacity (productivity);

· Indicators of the integral use of fixed assets, taking into account the cumulative influence of all factors - both extensive and intensive.

The first group of indicators includes: the coefficient of extensive use of equipment, the coefficient of equipment shift operation, the equipment load factor, the coefficient of the shift mode of the equipment operation time.

Coefficient extensive use of equipment(Kekst) is determined by the ratio of the actual number of hours of operation of the equipment to the number of hours of its work according to the plan.

Coefficient shifts worksNS equipment is defined as the ratio of the total number of machine-tool shifts worked out by equipment of this type during the day to the total number of machine tools assigned to the enterprise.

Coefficient downloads equipment also characterizes the use of equipment over time. It is installed for the entire fleet of vehicles that are in the main production. It is calculated as the ratio of the labor intensity of the manufacture of all products on a given type of equipment to the fund of its operation time. The equipment load factor, in contrast to the shift factor, takes into account data on the labor intensity of products. In practice, the load factor is usually taken equal to the value of the shift factor, reduced by two times (with a two-shift mode of operation) or three times (with a three-shift mode).

Based on the shift indicator of the equipment, it is calculated and coefficient use of replaceable modesma time work equipment... It is determined by dividing the equipment shift ratio achieved in a given period by the shift duration set at a given enterprise (shop).

In addition to intra-shift and day-to-day downtime, it is important to know how efficiently the equipment is used during the hours of its actual load. This problem is solved by calculating indicators of the intensive use of fixed assets, reflecting the level of their use in terms of capacity (productivity). Indicators that belong to the second group of indicators, the most important of which is the coefficient of intensive use of equipment.

Coefficient intensive use of equipment is determined by the ratio of the actual performance of the main technological equipment to its standard performance, i.e. progressive, technically sound performance.

The third group of indicators of the use of fixed assets includes the coefficient of integral use of equipment, the coefficient of utilization of production capacity, indicators of capital productivity and capital intensity of products.

Coefficient integral usingvania equipment is defined as the product of the coefficient of intensive and extensive use of equipment and comprehensively characterizes its operation in terms of time and productivity (power). The value of this indicator is always lower than the values of the previous two, since it takes into account both the disadvantages of both extensive and intensive use of equipment.

The result of the better use of fixed assets is, first of all, an increase in the volume of production. The generalizing indicator of the efficiency of fixed assets is based on the principle of commensuration of production products with the entire set of fixed assets used in its production. This is an indicator of the output of products per 1 UAH of the cost of fixed assets - return on assets.

Capital intensity products- the inverse of the return on assets. It shows the share of the cost of fixed assets attributable to each ruble of manufactured products. If capital productivity should tend to increase, then capital intensity - to decrease.

b) Updatethe maincapital.

The transition of the economy from the crisis phase to the recovery phase, and then - the rise associated with the renewal of fixed capital. During the crisis, low prices are set, which do not even cover production costs. The decline in prices is predetermined by the low demand for goods as a result of the decline in the purchasing power of the population. However, this does not mean that all needs are met, the reason is the lack of money from the population.

In a market economy, production costs must meet a certain price level, which makes it possible not only to provide coverage production costs but also get some profit. During the crisis, more perfect means of labor appear, which predetermine the obsolescence of fixed capital. This is, in essence, the second form of obsolescence.

In the first form, the cost of labor instruments decreases on the basis of labor productivity in the engineering industries. At the same time, the replacement of morally worn-out means of labor does not take place, they are only overestimated. In the second form of obsolescence, more perfect and more productive means of production are created. Morally worn out fixed assets are being replaced.

In addition to the moral, there is also physical wear and tear of the means of labor. However, why does it occur simultaneously among many owners of means of labor? This is due to the fact that the crisis period lasts from the time when there was a massive renewal of the means of labor in the previous production cycle and until the time when there is a need for their new renewal in the next production cycle. As a rule, it is equal to the time of use of the means of production (approximately 10-12 years).

Of course, the terms of use of different means of labor are not the same. but in question mainly about their active part - machines, machine tools and some types of equipment. Other types of fixed assets (for example, industrial buildings, vehicles) do not need such a quick replacement. Consequently, in the process of renewal of fixed capital, there is a massive replacement of worn-out means of labor with perfect ones, as a result of which labor productivity increases, production increases, and employment of the population grows. The production of means of production contributes to the resumption of the production of consumer goods. As a result of these processes, the country's economy goes from the crisis phase to the recovery phase, and then to the recovery phase. This completes the production cycle. Subsequently, a crisis ensues again and the cycle repeats itself. It should be noted that a new ascent usually reaches a point that is higher than the point of the previous ascent. This is due to the renewal of fixed capital, which provides a new technical base for production.

Section 3. Problems and main directions of formation of fixed capital

Despite all the difficulties and problems, in the field of private entrepreneurship, the desire to have their own business attracts more and more start-up entrepreneurs. Paul Samuelson wrote about this desire: “People always want to start an independent business. everyday solution which the small entrepreneur has a penchant for. "

However, the economic situation at the moment requires particularly balanced decisions and constant, focused leadership in the field of finance. Market relations provide sufficient opportunities for effective management, but the real state of affairs in the economy: a decline in industrial production, negative changes in its structure, a crisis of non-payments and a high risk of working with the banking system - often nullify all efforts to improve the quality of enterprise management.

The ongoing organizational and economic restructuring of the national economy radically affects the work of the main subject, the link of the market economy - the enterprise. The creation of new joint-stock firms on the basis of old state-owned enterprises, the emergence of new forms of ownership led to the emergence of a need for financial management as a science of enterprise financial management. Management activity in modern conditions acts as one of the most important factors in the functioning of enterprises and organizations.

The results of the production and economic activities of the enterprise are formed through the process of asset management, that is, fixed and working capital. Such results can be either positive or negative. Either the property of the enterprise in the course of its activity allows it to make a profit and be solvent, or it becomes a burden that draws off significant funds of the enterprise on itself, and leads to ever-increasing losses.

3.1 Depreciation of fixed capital in Ukraine

Consideration of the theoretical and methodological problems of recreating fixed capital at the stage of transition from a planned administrative system of economic management to a market economy makes it possible to most fully characterize the features of transformations, factors in overcoming crisis recessions in production and changes in growth rates. During the transformation period, the growth rate of fixed capital and changes in its structure are determined by the general conditions for the development of production and social renewal under the influence of the strategy and methods of restructuring market relations. The fundamental basis of the modern economic development of Ukraine lies in the intensification of the phases of reconstruction and in the intensification of innovative activity. An important problem economic theory is the study of the laws of recreation and ways of effective use of fixed capital in difficult circumstances of the transition to the market, which is marked by a number of specific features due to the action of many objective and subjective factors.

The practice of transformational transformations testifies to the fact that in Ukraine the methods and structures copied from developed market systems are being introduced into the economy. Ignoring the peculiarities of the operation of market patterns during the transformation of the economic system causes many negative socio-economic phenomena.

A general pattern for countries with different levels of development of market relations is that the processes of intensifying social production and increasing its efficiency in order to meet the needs of the economy and the population are decisively determined by the scale and nature of the reconstruction of fixed assets, the degree of their use.

New features of the restoration of fixed capital, which emerged in Ukraine during the transformation period, can be understood correctly only if the influence of the change in the form of ownership on this process is taken into account.

The use of fixed capital in Ukraine. As a result of the privatization processes that have taken place in Ukraine over the past years, state ownership of fixed assets has already lost its prevailing importance. At the end of 2001, about 54% of fixed assets were in state ownership (although in the early 90s they formed the overwhelming majority). Private enterprises owned only 2.2% of fixed assets, while collective ownership was 44.1%. Foreign owners had only 0.1% of fixed assets at their disposal.

The equity capital efficiency ratio for foreign owners is 217.5% per 1% ownership of fixed assets. At the same time, in the sector of general government (GOV), this indicator was 0.046%. These are incomparable results. The reason is mismanagement in the public sector, the opportunity for foreign owners to receive super profits on the territory of Ukraine and much more. Currently, the situation that has developed in the field of obtaining income from property, and the mechanisms that regulate it, are extremely unsatisfactory and are subject to revision. This is especially important when you consider how the subjects of the economy take care of the pile of capital that is in their ownership. According to the data, behind the investment structure of the collectively owned enterprise and the state, together with state enterprises have the value of the specific weight of capital investments, comparable to the structure of fixed capital, which is in their ownership. Private enterprises are the most consistent in piling up capital, although they own only 7.6% of the total investment. Foreign-owned enterprises in the structure of capital investments have an indicator of only 0.6-0.8%, their own income from property by specific weight is 2.6%, and in terms of profit - over 2.1%. This indicates that foreign owners do not care about piling up fixed capital, but about its exploitation. In absolute terms, income from property exceeded the volume of investment by many times. In terms of profits, the latter also exceeded capital investment for enterprises of foreign ownership by 2.9 times. For enterprises state form property, this figure was only 1.5 times. These figures characterize a different attitude to the piling up of fixed capital in Ukraine. And if we consider that within the next ten years it is necessary to reconstruct and replace almost two-thirds of the fixed capital that is in operation, then it is necessary to fundamentally revise not only the policy of distribution of capital income and the use of profits by business entities, but also the approaches to the formation of financial investment resources in Ukraine.

Fixed capital of the enterprise

Being the most important and significant part of the national wealth of the country, main capital characterizes the material base, the technical level of production. In the financial statements, fixed assets are reflected as fixed assets. In terms of material composition, fixed assets are fixed assets.

Fixed assets are a set of material values produced by social labor, which are used in unchanged natural form as means of labor for a long period of time and lose their value in parts.

As a criterion for assessing the duration of the turnover, the duration of the process of material production, equal to one year, was taken. Proceeding from this criterion, in theory and in practice, it is customary to refer labor instruments with a turnover of more than one year to fixed assets, and with a turnover of up to one year - to funds in circulation.

From the point of view of financial accounting at an enterprise, fixed assets are part of the property used as means of labor in the production of goods, performance of work or the provision of services, or for managing an organization for a period exceeding 12 months. Hence, items with a service life of less than 12 months are taken into account by the enterprise (organization) as part of working capital, regardless of their value.

For accounting and planning of reproduction, fixed assets are divided into groups and types in accordance with the purpose in the production process. According to the Standard All-Russian Classifier of Fixed Assets, approved by the Resolution of the State Committee of the Russian Federation for Standardization, Metrology and Certification No. 359 dated December 26, 1994, the following groups of fixed assets are distinguished: buildings, structures, transmission devices, machinery and equipment, vehicles, etc. different groups of fixed assets in their total value is the specific structure of fixed assets.

Fixed assets are subdivided into production and non-production depending on the intended purpose and the degree of their participation in the reproduction process.

Production foundations it is customary to call the means of production, which during many production cycles retain their natural form and transfer their value to the finished product gradually, as they wear out. However, one cannot equate the means of production and fixed assets.

The concept of "means of production" is broader than the concept of "fixed production assets", since the latter include only those means of production that are created by labor and participate in creating not only the use value of the product, but also its value.

Basic production assets(OPF) are a set of means of production created by social labor, which for a long time participate in the production process and, as they wear out, transfer their value to the value of the product produced.

Fixed assets that are not directly involved in production are fixed assets for non-production purposes... These include: residential buildings, hostels, clubs, houses of culture, baths, hotels, schools, hospitals, etc.

In production, a distinction is made between active and passive fixed assets. Active fixed assets - these are machines, equipment, transmission devices, computers, instrumentation and control devices, vehicles, passive — buildings, structures, etc .; they are not directly involved in the processing and movement of raw materials, materials, semi-finished products, but create the conditions necessary for production.

Sources of formation of the fixed capital of the enterprise

Reproduction of fixed capital at enterprises can be carried out either through direct investments, or by transferring fixed capital objects by the founders on account of contributions to the authorized capital, or upon gratuitous transfer by legal entities and individuals.

Direct investments represent the costs of creating new objects of fixed capital, expansion, reconstruction and technical re-equipment of existing ones.

Direct investment financing- this is the procedure for the provision of funds, a system of spending and control over their targeted and effective use.

Currently, direct investment financing is carried out:

At the expense of its own financial resources and on-farm reserves;

Borrowed funds;

Attracted funds received from the issue of securities, shares and other contributions of legal entities and individuals;

Funds received by way of redistribution from centralized investment funds of concerns, associations and other unions;

Extra-budgetary funds;

Appropriations from budgets of various levels, provided on a non-refundable basis;

Funds of foreign investors.

Own financial resources of the enterprise include the initial contributions of the founders at the time of organization and part of the funds received as a result of its economic activities (savings from cost savings, savings from lower prices for equipment, depreciation charges, profit from operating activities).

TO borrowed funds relate long-term bank loans, which are provided to the company on the basis of a loan agreement, on the terms of repayment, urgency, payment, security under guarantees, real estate pledge, pledge of other assets of the company.

The source of financing for the reproduction of fixed assets is also borrowed funds from other enterprises. Enterprises can also be provided loans to individual investors (individuals).

Recently, such a source of borrowed funds as loans from federal and regional budgets to finance fast-payback commercial projects, the implementation of which will ensure the development of the most important areas of the economy. These loans are placed on a competitive basis.

The next source of financing for direct investment is involved funds, received by enterprises in the financial market.

One of the ways out of this situation is the development of leasing. Leasing - this is a type of entrepreneurial activity aimed at investing temporarily free funds, when, under a financial lease (leasing) agreement, the lessor (lessor) undertakes to acquire ownership of the property stipulated by the agreement from the seller and provide this property to the lessee (lessee) for a fee for temporary use for entrepreneurial purposes ... Leasing allows companies to reduce the level of equity capital in sources of investment financing.

Funds from federal and regional budgets and from sectoral and cross-sectoral extrabudgetary funds are allocated mainly to finance federal, regional or sectoral target programs, the implementation of which will allow to concentrate financial resources on the most important areas of development of sectors of the economy and social sphere... Grant financing from these sources actually turns into a source of own funds.

Attraction foreign investment ensures the development of international economic relations and the introduction of advanced scientific and technological achievements, although in principle it is not able to compensate for the lack of domestic investment. The activation of foreign investors is possible only after the activation of national investors and the provision of a favorable investment regime to foreign investors.

Depreciation- transferring in parts the value of fixed assets as they are physically worn out to the product (or services) produced with their help.

Physical deterioration makes machinery and equipment unusable and makes it impossible for their further participation in production. Along with physical wear and tear, fixed assets undergo and obsolescence... This phenomenon is explained by the fact that the rates of technical progress that are developing in world economic practice lead to the need for the appearance of fundamentally new machines or technologies in almost every field of activity approximately every 5-6 years. This means that the equipment available at the enterprise in terms of its efficiency and economic opportunities will be inferior to analogs operating at other enterprises.

Depreciation is carried out in order to accumulate funds for the subsequent restoration and reproduction of fixed assets. Depreciation deductions is a monetary expression of the amount of depreciation corresponding to the degree of depreciation of fixed assets.

Working capital of the enterprise

Working capital- these are the means serving the process of economic activity, participating simultaneously in the production process and in the process of selling products.

Working capital acts primarily as a value category. Working capital in the process of circulation takes the form of inventories, work in progress, finished goods. Unlike goods and materials, circulating assets are not spent, but advanced, returning after the end of one cycle and entering the next.

By functional purpose working capital enterprises are subdivided into circulating production assets and circulation funds.

Revolving production assets serve the production sector.

Production assets are the material basis of production. They are necessary to ensure the production process, value creation. Revolving production assets serve the sphere of production, completely transfer their value to the newly created product, while changing their original form during one production cycle.

The circulating production assets include raw materials, basic and auxiliary materials, purchased semi-finished products, fuel, fuel, containers, tools, inventory, spare parts. They all constitute production stocks. In addition to them, the circulating production assets include work in progress and prepaid expenses.

The main purpose of funds advanced in working capital assets is to ensure a continuous and rhythmic production process.

Another element of the company's working capital is circulation funds. They are not directly involved in the production process. Their purpose is to provide resources for the circulation process, in servicing the circulation of the enterprise's funds and in achieving the unity of production and circulation. Circulation funds consist of finished products in stock; goods shipped; funds in the cash desk of the enterprise and in bank accounts; accounts receivable; funds in other settlements.

In addition to the division by composition, current assets can be classified according to the following criteria:

By place and role in the reproduction process distinguish between circulating assets in the sphere of production and the sphere of circulation. Establishing the optimal ratio of working capital in production and circulation is important for ensuring cash execution production program, and is also one of the main factors in increasing the efficiency of the use of working capital.

By the degree of planning working capital is divided into standardized and non-standardized. Domestic practice presupposes rationing, i.e. the establishment of planned stock rates and standards for the elements of working capital, with the exception of goods shipped, cash and funds in the calculations. The amount of non-standardized working capital is determined promptly.

By sources of formation working capital is divided into own, borrowed and borrowed.

The organization of working capital is fundamental in the general complex of problems of increasing their efficiency. It includes the definition of the composition and structure of working capital; establishing the enterprise's need for circulating assets; determination of sources of formation of working capital; responsibility for the safety and efficient use of working capital.

Under composition of circulating assets c is understood as a set of elements that form circulating production assets and circulation funds, i.e. their placement on separate elements.

Working capital structure represents the ratio of individual elements of circulating production assets and circulation funds, i.e. shows the share of each element in the total working capital.

Introduction

1. The structure and essence of the fixed capital of the enterprise

1.1 Classification of fixed assets

1.2 Valuation of fixed assets of the enterprise and inflation

1.3 Sources of formation and reproduction of fixed assets

Conclusion

Bibliography

Introduction

The transfer of the economy to market relations is dictated by the logic of the development of productive forces at the stage of transition to a system of free enterprise using various forms of ownership.

The restructuring of industrial production orients enterprises towards the economically justified use of all elements of production, a clear interaction of which, with a rational structure of the means of production, makes it possible to ensure a normal economic activity enterprises. After all, the main motive for creating any commercial enterprise is making a profit. An integral part of the means of production is fixed capital, which is assigned a significant share in the structure of the property complex. Fixed capital is directly involved in the creation of material values and is closely interconnected with the competitiveness of the products.

As you know, the basis of any production process is human labor, which assumes quality necessary condition their activities, the availability of tools and objects of labor. In the production process, the value of the means and objects of labor is not the same. The decisive role belongs to the means of labor, i.e. the aggregate of material means with the help of which a person affects the subject of labor, changing its physical and chemical properties.

The fixed capital of the enterprise includes the means of labor, which are repeatedly involved in the production process, performing qualitatively different functions. Gradually wearing out, they transfer their value to the newly created product in parts, over a number of years in the form of depreciation deductions.

1. Structureand essencefixed capital of an enterprise

Capital is the main economic base for the creation and development of an entrepreneurial firm, since it characterizes the total value of funds in monetary, material and intangible forms invested in the formation of its assets. In the course of its functioning, capital provides the interests of the owners and staff of the firm.

Under general concept capital of a firm is usually understood as its various types, of which there are many. Consider the classification of capital according to various criteria.

DrawingTo 1 ... Classification of a firm's capital

Consider the fixed capital of a firm. Fixed capital is that part of the capital used by the company that is invested in all types of non-current assets, and not just in fixed assets.

Let's display the composition of non-current assets:

Figure 2. Non-current assets

Intangible assets represent the rights to receive profit in the future. Hallmark these assets (which is characteristic not only of them) is that they have no physical form and depend on the expected profit. Main categories of intangible assets:

business reputation of the company - "goodwill";

ownership of the leased property and its improvement;

development rights and development costs of natural resources;

formulas, technologies and samples (eg software);

know-how - a set of technical, technological, managerial, commercial and other values, drawn up in the form of technical documentation, descriptions, accumulated production experience, which are the subject of innovation, but not patented;

trademark - an emblem, drawing or symbol registered in accordance with the established procedure; serving to distinguish the goods of this manufacturer from other similar goods;

licenses;

other similar types of property values of the firm.

In addition, to intangible assets may include organizational costs (costs associated with the formation of a legal entity, recognized in accordance with constituent documents the contribution of the founders to the authorized (pooled) capital.

Intangible assets are reflected in the accounting and reporting in the amount of acquisition costs, manufacturing and costs of bringing them to a state in which they are suitable for use for the planned purposes. For the objects for which the cost is repaid, intangible assets evenly (monthly) transfer their initial cost to the costs of production or circulation at the rates determined by the organization based on the established useful life. For intangible assets for which it is impossible to determine the useful life, the rates of transfer of value are established per ten years (but not more than the life of the organization).

Long-term financial investments represent the costs of equity participation in the authorized capital in other enterprises, for the purchase of shares and bonds on a long-term basis. These include the firm's investments in subsidiaries and affiliates, as well as in other organizations, loans provided to organizations for a period exceeding 12 months, and the value of property transferred to long term lease on the right of financial leasing (that is, with the right to purchase or transfer ownership of the property upon the expiration of the lease term).

Financial investments are taken into account in the amount of actual costs for the investor. For government securities, the difference between the amount of actual acquisition costs and the nominal value during the period of their circulation is evenly (monthly) attributed to the financial results of the organization, or to the reduction of funding (funds) from the budgetary organization.

Shares and shares that have not been paid in full are shown in the asset of the balance sheet in their full purchase value, with the attribution of the outstanding amount under the item of creditors in the liability of the balance sheet in cases where the investor is entitled to receive dividends and bears full responsibility for these investments. In other cases, the amounts contributed to the account of shares and units to be acquired are shown in the asset of the balance sheet under the item of debtors. Investments of an organization in shares of other organizations that are quoted on the stock exchange or at special auctions, the quotations of which are regularly published, when compiling the annual balance sheet, are reflected at the end of the year, at market value, if the latter is below the book value. The specified adjustment is made in the amount of the reserve for securing investments in securities, created due to the financial results of the organization or a decrease in funding (funds) from the budgetary organization.

To unfinished capital investments the costs of construction and installation work, the acquisition of buildings, equipment, vehicles, tools, inventory, other material objects of durable use, other capital works and costs (design and survey, geological exploration and drilling works, costs for the allotment of land and resettlement in connection with construction, for training personnel for newly built organizations, etc.).

Capital investments are reflected in the balance sheet at the actual costs for the developer (investor). Capital construction objects that are in temporary operation, until they are put into permanent operation, are not included in fixed assets. In accounting and reporting, the costs of these objects are reflected as capital investments in progress.

Fixed assets - part of the property of an entrepreneurial firm used as means of labor in the production of products, performance of work or provision of services, or for the management needs of the firm for a period exceeding 12 months or a normal operating cycle if it exceeds 12 months.

Fixed assets include:

buildings, structures, transmission devices, working and power machines and equipment, measuring and regulating instruments and devices, computers, vehicles, tools, production and household equipment and accessories, working and productive livestock, perennial plantings, on-farm roads and other fixed assets ... Fixed assets also include capital investments in land improvement (reclamation, drainage, irrigation and other works) and in rented buildings, structures, equipment and other objects related to fixed assets. Capital investments in perennial plantings, land improvement are included in fixed assets annually in the amount of costs related to the areas taken into operation, regardless of the completion of the entire complex of works.

The structure of fixed assets includes land plots owned by the organization, objects of nature use (water, subsoil and other natural resources). Completed capital expenditures in leased buildings, structures, equipment and other objects related to fixed assets are credited by the lessee to its own fixed assets in the amount of actual expenses, unless otherwise provided by the lease agreement.

In different sectors of the economy, the structure of fixed assets can differ significantly, since it reflects the technical equipment, technology features, specialization and organization of production in these sectors.

Thus, fixed assets are part of the property of the company, which transfers its value to the newly created product in parts, over several production cycles, while maintaining its natural form. The main defining feature of fixed capital is the method of transferring value to the product - gradually: over a number of production cycles, in parts: as it is worn out.

Depreciation of fixed assets is accounted for according to the established depreciation rates, the amount of which is included in the cost of production. After the sale of products, the accrued depreciation is accumulated in a special depreciation fund, which is theoretically intended for new capital investments. Thus, the lump sum advanced value into the authorized capital in terms of fixed capital makes a circuit, passing from the monetary form to the natural form, to the commodity form and again to the monetary one. This is the economic essence of fixed capital.

1.2 Classification of fixed assets

You use various characteristics for the classification of fixed assets.

Depending on participation in the production process fixed assets are divided into two groups: production and non-production. Production fixed assets directly or indirectly take part in the production of material values, they include buildings, structures, working machines and equipment, etc. Non-production fixed assets do not take part in the production process, and these include residential buildings, clinics, kindergartens, sanatoriums and other fixed assets of the intangible sphere.

By role in production fixed assets are divided into active and passive. Active fixed assets are directly involved in the movement and processing of raw materials, materials, semi-finished products, components, these include machines, equipment, transmission devices, computers, vehicles, control and measuring devices, etc. Passive fixed assets, not participating directly in the production process, create the conditions necessary for its implementation - these are buildings, structures, etc.

The equipment is also divided into two groups: main and auxiliary equipment. Directly on the main equipment in the production process are created material values- these are machines, mechanisms, etc. Auxiliary equipment is designed to carry out various operations that support the production process, for example, transfer devices.

1.3 Assessment of the mainenterprise funds and inflation

The fixed capital of the enterprise (its elements) have a certain value, as a rule, this is the acquisition cost (initial cost). However, over time, this value decreases by the depreciation amount (residual value), which will be discussed below.

Fixed assets are reflected in accounting and reporting at historical cost, i.e. at the actual costs of their acquisition, construction and manufacture, with the exception of value added tax and other refundable taxes (except for cases stipulated by the legislation of the Russian Federation). Initial cost of fixed assets- is the cost (price) of the acquisition of this type of fixed assets; shipping costs for delivery; the cost of installation, commissioning, etc. This value is expressed in prices in effect at the time of acquisition of this object, and on the basis of its value, the enterprises register the elements of fixed assets, record them on the balance sheet of the enterprise, as a result of which it is also called the book value of fixed assets.

The cost of fixed assets, at which they are accepted for accounting, is not subject to change. Changes in the initial value of fixed assets are allowed in cases of completion, retrofitting, reconstruction and partial liquidation of the relevant facilities.

The company has the right, no more than once a year (at the beginning of the reporting year) to revalue fixed assets at replacement cost by indexing or direct recalculation at documented market prices with the transfer of arising differences to the company's additional capital account. To eliminate the distorting influence of the price factor, fixed assets are evaluated according to their replacement value, that is, at the cost of their production in today's conditions.

To determine the replacement value, fixed assets are regularly revalued using two main methods: 1) by indexing their book value; 2) by direct recalculation of the book value in relation to the prices formed on January 1 of the next year. Buildings, except for residential buildings, structures, transmission devices, machines, equipment, vehicles and other types of fixed assets, regardless of their technical condition (degree of wear), are subject to revaluation, both active and in conservation, in reserve or in stock, in unfinished construction, as well as objects leased or for temporary use (fixed assets leased are revalued by the lessor).

Residual value represents the difference between the original cost and the accrued depreciation (the cost of fixed assets not transferred to the finished product). For new enterprises being commissioned, the valuation of fixed assets using this method is the same as the valuation at historical cost. For existing ones, it will be less than the initial cost by the amount of depreciation of fixed assets.

Liquidation value- this is the cost of selling worn-out and discontinued fixed assets (often the price of scrap).

Average annual cost fixed assets are determined on the basis of the initial cost, taking into account their entry and liquidation according to the following formula:

FS = Фп (b) + Фвв * ЧМ / 12 - Фл (12-М) / 12,

where Фс is the average annual cost of fixed assets;

Фп (б) - the initial (book) cost of fixed assets;

Фвв - the cost of the funds introduced;

CHM - the number of months of functioning of the introduced fixed assets;

Fl - liquidation value;

M is the number of months of functioning of the retired fixed assets.

Buildings, except for residential buildings, structures, transmission devices, machines, equipment, vehicles and other types of fixed assets, regardless of their technical condition (degree of wear), are subject to revaluation, both active and in conservation, in reserve or in stock, in unfinished construction, as well as objects leased or for temporary use (fixed assets leased are revalued by the lessor).

The initial data for the revaluation of fixed assets (assets) are the full book value of fixed assets, determined based on the results of the inventory, and the coefficients for converting the book value of fixed assets into replacement value, which is determined by multiplying their book value by the corresponding conversion factor (ratios are set for each group of fixed assets. funds). The full replacement cost of fixed assets, that is, the full cost of the costs that the entity that owns them would have to incur if it were to completely replace them with similar new objects at market prices and tariffs existing at the date of the revaluation, including acquisition costs ( construction), transportation, installation (assembly) of objects, for imported objects - also customs payments, etc. The full replacement cost is determined on the basis of the cost of reproduction of objects similar to those being assessed, from the same materials, in compliance with plans and drawings and the quality of work, with the inherent design flaws and elements of inefficiency. The full replacement cost of obsolete objects is also based on the existing costs of their manufacture at prices and tariffs existing at the date of revaluation, based on the fact that obsolescence of objects is reflected in the levels and rates of change in the corresponding prices and tariffs. When determining the full replacement cost of discontinued objects, the prices and costs of making an exact copy of which in modern conditions is practically impossible to establish, this cost is determined as the replacement cost, based on the full replacement cost of functionally similar manufactured objects, adjusted by the ratio of the most important performance characteristics previously produced and modern facilities. The cost of land plots and natural resources is not subject to revaluation.

The full replacement cost of fixed assets is determined, at the discretion of the organization, either by direct recalculation of the value of individual objects at documented market prices for new objects similar to those being assessed ("direct valuation method"), or by indexing the book value of individual objects using indices ( coefficients).

When revaluing, along with the full replacement value of fixed assets, their residual replacement value is determined. The residual replacement value of fixed assets is understood as the value of fixed assets after revaluation, taking into account the accrued depreciation. The residual replacement value of fixed assets is determined by the organizations themselves - the owners of fixed assets independently. When revaluing fixed assets by indexing, the amount of fixed assets depreciation recorded in the accounting records (including objects for which depreciation is fully charged) is to be multiplied by the corresponding indices of changes in the value of fixed assets, when recalculated into replacement cost. When revaluing fixed assets using the direct recalculation method, the amount of depreciation recorded in the accounting records is subject to indexation according to the conversion factor calculated by the ratio of the replacement value to the book value.

When assessing the effectiveness of an enterprise's investments in fixed assets, the following points should be taken into account:

The functional usefulness of fixed assets persists for a number of years, therefore, the costs of their acquisition and operation are spread over time;

The moment of renewal (physical replacement) of fixed assets does not coincide with the moment of their cost replacement, as a result of which losses may occur that underestimate the financial results of the enterprise;

The effectiveness of the use of fixed assets is assessed in different ways depending on their type, ownership, nature of participation in the production process. Due to the fact that fixed assets serve not only the production area of the company, but also the social and household, the efficiency of their use is determined not only by economic (cost), but also by social, environmental and other factors.

The efficiency of the use of fixed assets is characterized by certain cost indicators, which reflect in monetary terms the production output of fixed assets of the enterprise. These indicators are:

Return on assets (the amount of products sold per ruble of the average annual cost of fixed assets).

Capital intensity (the ratio of the cost of fixed assets to the cost of production).

Capital-to-labor ratio (the cost of fixed assets attributable to one employee).

1.4 Sources of formation and inproduction of fixed assets

Financing of the process of formation of fixed assets can be carried out from the following main sources:

the funds of the founders transferred at the time of the creation of the company or already in the process of its functioning;

own resources of the enterprise, created in the course of its statutory activities;

funds received by the company on a borrowed basis in the form of targeted bank loans;

allocations from budgets of various levels and extrabudgetary funds.

In addition to those indicated, in modern conditions such a method of forming fixed assets as lease (used mainly for obtaining production and other areas) and its type - leasing is widely used.

Sources of financing for the reproduction of fixed assets are subdivided into own and borrowed ones.

Own sources of fixed assets of the company:

Depreciation;

Depreciation of intangible assets;

Profit remaining at the disposal of the firm.

Attracted sources of fixed assets:

Bank loans;

Borrowed funds from other enterprises and organizations;

Monetary funds received from the issue of securities, shares and other contributions of legal entities and individuals;

Funds received by way of redistribution from centralized investment funds of concerns and other associations;

Extra-budgetary funds;

Appropriations from budgets of various levels, provided on a refundable and non-refundable basis;

Funds of foreign investors.

The sufficiency of sources of funds for the reproduction of fixed assets is of decisive importance for the financial condition of the enterprise.

2. Task

Determine the volume of marketable, gross and sold products, based on the following data.

Table 1

Index	Number of pieces	Price per unit, rub.	Amount, rub.
1.Finished products




2.Services to other organizations
3. Remains of unsold products
For the beginning of the year
At the end of the year
4. Remains of work in progress
For the beginning of the year
At the end of the year

We will find the total cost of finished products

450,000 + 256,000 + 401500 + 180,000 = 1287500 rubles.

In order to determine the volume of marketable products, it is necessary to add up the total cost of finished goods and services to other enterprises.

1,287,500 + 25,800 = 1,313,300 rubles was the volume of commercial products

In order to determine the volume of gross output, it is necessary to add the difference between the balance of work in progress at the beginning of the year and at the end of the year to the volume of marketable output.

1313300 + 16250-18370 = 1311180 rubles - made up the volume of gross output

In order to find out the volume of products sold, it is necessary to add the difference between the balances of unsold products at the beginning of the year and at the end of the year to the volume of marketable products.

1,313,300 + 38,200 - 45,600 = 1,305,900 rubles. - made up the volume of products sold.

The volume of commercial products amounted to 1,313,300 rubles.

The gross output amounted to 1,311,180 rubles.

The volume of products sold amounted to 1,305,900 rubles.

Conclusion

Capital is a significant part of financial resources advanced and invested in production with the aim of making a profit. Capital is the main economic basis for the creation and development of an enterprise, as it characterizes the total value of funds in monetary, material and non-material forms, invested in the formation of its assets. In the course of its functioning, it ensures the interests of the owners, the personnel of the enterprise, as well as the state. This defines it as the main object of enterprise management, and ensuring its effective use is one of the most important tasks.

Considering the fixed capital of the company, we can say that it represents that part of the capital used by the company, which is invested in all types of non-current assets.

The fixed assets of the firm are the value expression of the means of labor, which transfer their value to the product in parts, as they wear out. The law of reproduction of fixed capital is expressed in the fact that its value, introduced into production, is fully restored, providing the possibility of technical renewal of the means of labor.

Fixed assets are subdivided into production and non-production, have a sectoral breakdown, classified by types that form the active and passive parts.

In the management of fixed assets, a differentiated system of cost estimates is used, the base ones of which are the initial, replacement and residual values.

Bibliography

Firm finances: Textbook; A.M. Kovaleva, M.G. Lapusta, L.G. Skamay, - M .: "Infra-M", 2002.493s.

Enterprise Finance / ed. Borodina E.I. - M: UNITY, 1995.

Economics of industrial enterprises: Textbook - 2nd ed., Revision and additional / N.L. Zaitsev.- M .: Infra, 1999. 336p.

Enterprise Economics: Textbook / ed. ON. Safronova -M .: "Yurist", 2003. 608s.

Economics / Textbook / Ed. A.S. Bulatova :. -M .: BEK, 1997

The essence and value of fixed assets, their composition and structure

Types of valuation of fixed assets

Physical and obsolescence of fixed assets

Reproduction of fixed capital. Indicators of the efficiency of using fixed capital

1. Main capital is a set of material values used as means of labor, which for a long time repeatedly or constantly in unchanged natural form are used in the economy, gradually transferring their value to the products and services created.

Fixed assets Are tangible assets that are used by an organization for the production or supply of finished products (goods, works, services) for renting to other organizations or for administrative purposes and which are supposed to be used for a long period of time (more than one year) (Accounting Standards. - Almaty: "Lawyer", 2005).

Fixed assets include: real estate (land plots, buildings, structures, perennial plantings and other objects firmly connected to the land, the movement of which is impossible without prejudice to their purpose), vehicles, equipment, fishing gear, production and household equipment, an adult worker and productive livestock, special tools and other fixed assets.

Enterprises use a single standard classification of fixed capital, in accordance with which they are grouped according to the following criteria:

- by industry basis allow you to obtain information about their value in each industry, to study the features of the structure (trade, industry);

- depending on the purpose in production and economic activities fixed assets are divided into production (machines, machine tools, buildings of main and auxiliary workshops, vehicles, etc.) and non-production (fixed assets of clinics, kindergartens, stadiums owned by the enterprise);

- depending on the specific features of participation in the production process fixed assets are subdivided into active (machinery, equipment, vehicles) and passive, i.e. creating conditions for the production process;

- by type subdivided into buildings, structures, engineering and construction equipment, machinery and equipment, vehicles, production inventory;

- by affiliation subdivided into own and leased;

- by use for those in operation (operating), in reconstruction and technical re-equipment, in reserve (reserve) and for conservation.

2 ... Fixed assets are valued and accounted for in kind and in value terms.

Accounting and valuation in in kind serve to determine the production capacity of the enterprise, to draw up a balance of machinery and equipment.

Accounting in value terms allows you to determine the structure, dynamics, the cost of fixed assets at a particular moment, the amount of depreciation.

Property, plant and equipment in value terms are measured at their original, current, carrying and residual values, as well as realizable value.

Initial cost Is the cost of the actual costs incurred for the construction or acquisition of fixed assets, including the paid non-refundable taxes and fees, as well as the costs of delivery, installation, installation, commissioning and any other costs directly related to bringing the asset into working condition for its use by appointment ..

Current value Is the value of property, plant and equipment at prevailing market prices at a specific date.

Book value- this is the initial or current value of fixed assets less the amount of accumulated depreciation, at which the asset is reflected in the accounting and reporting.

Realizable value (fair value) Is the cost at which an exchange of property, plant and equipment is possible between knowledgeable and transaction-ready independent parties.

Liquidation value - the estimated cost of spare parts, scrap, waste arising from the disposal of property, plant and equipment at the end of their useful life, less the expected costs of disposal.

3. During operation or inactivity, fixed assets are subject to wear and tear. Wear Is a process of loss of physical and material characteristics of fixed assets. Distinguish between physical and moral deterioration.

Physical wear and tear is the result of the use of real estate, buildings and equipment and the impact of external factors.

Physical deterioration is determined by the fact that, participating in the production process, fixed assets gradually lose their use value, their mechanical and other properties change. Different types of fixed assets wear out at different times. The amount of physical wear and tear of fixed assets depends on the intensity and nature of their operation, storage conditions, etc. The higher the load on them, the faster they wear out.

To assess the degree of physical wear and tear of fixed assets, use expert method and a method for analyzing service life. The expert method is based on a survey of the actual technical condition of the object. The analysis of the service life is based on a comparison of the actual and standard service life of the corresponding facilities.

Obsolescence is a process as a result of which assets do not meet modern requirements for the development of science and technology.

Under obsolescence means a decrease in the value of fixed assets before the end of their service life due to a decrease in the cost of their reproduction, as new types of fixed assets begin to be produced cheaper, have higher productivity and are technically more perfect. Therefore, the use of obsolete machines and equipment becomes economically unprofitable as a result of their low productivity and high cost. The determining factor of obsolescence is scientific and technological progress.

There are two forms of obsolescence. The first is characterized by a decrease in the cost of reproduction of the means of labor. In this case, machines of the same design are cheaper to manufacture and transfer less cost to the finished product. The second form of obsolescence is associated with the introduction of new, more advanced means of labor, the use of which gives a greater economic effect.

The time of the onset of obsolescence and its degree are determined by a number of different factors and, above all, by the characteristics and scale of production. Machines and equipment, the use of which becomes unprofitable in some cases of production, can be successfully used in others. In this case, we can talk about partial obsolescence of the equipment.

Thus, the obsolescence of fixed assets is complete and partial. Losses from complete obsolescence are eliminated only by replacing obsolete machinery and equipment with new, more advanced and economically viable ones. However, it is not possible to completely replace obsolete equipment in a short time. In a number of cases, the improvement of existing equipment and machines is more effective than its replacement. Therefore, one of the rational directions for increasing the technical level of labor instruments and reducing losses from obsolescence is the modernization of machinery and equipment.

Losses from partial obsolescence can be eliminated as a result of the modernization and reconstruction of outdated types of fixed assets, that is, technical renovation, as well as the use of partially obsolete equipment to perform work, where it remains cost-effective.

Obsolescence losses can be significantly reduced as a result of maximizing the use of available equipment as quickly as possible.

The degree of depreciation of fixed assets is determined by the following indicators.

Physical deterioration(If):

If = (Tf / Tn) * 100%,

where, Tf is the actual service life of fixed assets;

Тн - standard service life of fixed assets,

or If = (Ca / OFp) * 100%,

where, Ca - the amount of accrued depreciation, thousand tenge;

OFP - the initial cost of fixed assets, thousand tenge.

Obsolescence of the first form (Im1):

Im1 = ((OFp - OFv) / OFp) * 100%,

where, OFV is the replacement cost of fixed assets, thousand tenge.

Obsolescence of the second form (Im2):

Im2 = ((Mon - Ps) / Mon) * 100%,

where, Mon - productivity of new equipment;

Ps - performance of old equipment.

The gradual wear of the means of labor leads to the need to accumulate funds to compensate for the wear and tear of fixed assets and their reproduction. This is done through depreciation.

Depreciation - an economic mechanism for the gradual transfer of the value of the worn-out part of fixed assets to manufactured products in order to reimburse and accumulate funds for their subsequent reproduction.

Depreciation - it is the value of depreciation as a systematic distribution of the amortized cost of an asset over its useful life.

Useful life - this is the period during which economic benefits are expected to be obtained from the use of property, plant and equipment.

Normal service life - this is the period during which the organization depreciates property, plant and equipment in accordance with established rates.

It should be noted that fixed assets after each production cycle do not require depreciation in kind, therefore depreciation charges are accumulated, forming a depreciation fund.

Depreciation rate - it is the annual percentage of the transfer of the value of fixed assets to products.

Amount of depreciation charges is defined as the corresponding percentage of the book (original or replacement) value of the depreciation item.

Objects depreciation are fixed assets of the enterprise, both used and not used in production and economic activities.

Amortized cost- this is the cost of an asset or another amount reflected in the financial statements instead of the cost, less its residual value.

Depreciation of real estate, buildings and equipment Is the systematic allocation of the amortized cost of an asset over its useful life.

When calculating depreciation of fixed assets, you must be guided by the following requirements:

The amortized cost of an item should be written off systematically over its useful life;

The depreciation method used should reflect the process of consumption by the organization of the economic benefits contained in the facility;

The depreciation charge for each period should be recognized as an expense unless included in the carrying amount of another asset.

The following methods can be used to calculate depreciation:

a) straight-line (even) write-off of value;

b) the amount of products (write-off of the cost in proportion to the volume of work performed or (production);

c) accelerated write-off: decreasing balance; write-off of cost by the sum of numbers (cumulative method).

Straightforward method is the simplest one, in which the amortized cost of the object is written off monthly in equal amounts. With the straight-line method, the amount of depreciation deductions is determined based on the useful area, for a more accurate determination, which should be taken into account all available information about the state of the facility at the moment (issues of repair and maintenance, modern trends in technology and production, experience with similar assets, climatic conditions, etc.).

Manufacturing method depreciation is that depreciation is determined only during the period of use of the object, that is, there is a direct relationship between the amount of depreciation and production capacity. In this case, the service life is not important for determining depreciation. Production capacity can be expressed in units of output, in operating hours, in units of mileage, etc. The residual value of the asset decreases annually in direct proportion to the production capacity indicator until it reaches the residual value.

The production method of depreciation is acceptable in cases where the service life is limited mainly by technical indicators or changes in the organization's activities.

Deserves attention accelerated depreciation method. Certain types of fixed assets operate more efficiently precisely at the beginning of operation. In addition, in the context of improving technology, equipment quickly becomes obsolete. Therefore, in order to create financial conditions for accelerating the implementation of scientific and technical achievements in production and increasing interest in updating fixed assets, subjects can use accelerated depreciation methods: the method of writing off the value by the sum of numbers (cumulative method) or the method of decreasing balance.

Write-off method based on the sum of numbers (cumulative method) consists in determining the calculated coefficient. The denominator of the factor is the sum of the years of useful life, and the numerator is the number of years remaining until the end of the useful life in reverse order. This factor is different in different periods of operation, but it is applied to a constant value of the amortized cost. When using this method, the amount of depreciation deductions in the first years of operation is significantly higher than in subsequent years.

For a faster determination of the cumulative number, use the formula:

S = (N * (N + 1)) / 2

Where, S is the sum of numbers;

N is the estimated useful life.

One of the most common is the method based on decreasing the depreciation period and increasing its annual rates. In this case, depreciation charges in the first years of the functioning of fixed assets sometimes reach 40%. This method is widely used in the USA and Great Britain. For example, for metalworking equipment, the depreciation period has gradually decreased from 12.7 to 5.7 years.

As a result of the introduction of this method, enterprises are rapidly updating equipment and expanding production based on the latest technology. The state encourages the introduction of this method by reducing the amount of income tax. In the UK, the depreciation period for some types of equipment is set at 3-4 years or less. A number of machine-building companies reimbursed the cost of equipment in 15 months, and some enterprises of the electronics industry - in 8 months. A reduction in the service life of fixed assets and a corresponding increase in depreciation deductions leads to the creation of financial conditions for an active innovation process at the enterprise.

4. The main indicators of the efficiency of the use of fixed assets can be grouped into four groups:

1) indicators of extensive use of fixed assets, reflecting the level of their use over time;

2) indicators of intensive use of fixed assets, reflecting the level of their use in terms of capacity (productivity);

3) indicators of the integral use of fixed assets, taking into account the cumulative influence of all factors, both extensive and intensive;

4) generalizing indicators of the use of fixed assets, characterizing various aspects of the use (condition) of fixed assets as a whole for the enterprise.

The first group of indicators includes the coefficients of extensive use of equipment, shifts in equipment operation and equipment utilization. TO the coefficient of extensive use of equipment (Kext) is defined as the ratio of the actual number of hours of equipment operation (tf) to the number of hours of operation at the rate (tn):

Кext = tf / tн

Equipment shift factor (Kcm) is calculated as the ratio of the total number of machine tool shifts worked out by the equipment ( Dst.cm) to the number of machines that worked in the longest (as a rule, the first) shift ( NS):

TOcm= Dst.cm /NS

Equipment load factor (Kload), which is defined (simplified) as the ratio of the shift factor of work ( TOcm) to the planned equipment shift ( TOpl):

TOload = TOcm /TOpl

The second group of indicators includes the coefficient of intensive use of equipment (Kint), which is defined as the ratio of the actual performance of the equipment (NSf) to the normative (NSn):

TOint= Pf /NSn

The third group of indicators includes integral equipment utilization factor (Kintegra). It is defined as the product of the coefficients of extensive and intensive use of equipment and comprehensively characterizes its operation in terms of time and productivity (power):

TOintegra= Kext * k int

The fourth group consists of indicators of capital productivity, capital intensity, capital-labor ratio, profitability of fixed assets and labor productivity. Return on assets (Fdep) = indicator of production output per 1 tenge of the cost of fixed assets. Shows what is the total return on the use of each tenge spent on OPF, how effectively they are used at the enterprise. It is defined as the ratio of the volume of output (B) to the cost of fixed assets (F) for a comparable period of time (month, year):

Fdep= V / F

Capital intensity (Fcapacity) - the inverse value of the return on assets; shows the share of the cost of fixed assets attributable to 1 tenge of manufactured products (share of the cost of fixed assets).

Fcapacity= F / V

Labor-to-labor ratio (Fv) is calculated as the ratio of the value of fixed assets (F) to the number of workers at the enterprise who worked in the longest shift (H):

Fv = F / H

Profitability of fixed assets (P) characterizes the amount of profit attributable to 1 tenge of fixed assets, and is determined as the ratio of profit (P) to the value of fixed assets (F):

R = (P / F) * 100%

Labor productivity (PR) can be determined by multiplying the rate of return on assets (Fdep) on the capital-labor ratio (Fv):

NSR= Fdep* Fv

The relationship between the indicators of capital productivity and labor-to-labor ratio is determined, in turn, by the relationship between the growth in production and the growth in the value of fixed assets. If the volume of production outstrips the growth in the value of fixed assets, then the capital productivity increases, and the capital-labor ratio either does not grow, or grows to a lesser extent. And as a consequence of this, the growth of labor productivity outstrips the growth of the capital-labor ratio and vice versa.

Average annual cost of fixed assets (F) determined by the formula:

F = Fn+ (Fv* tv) / 12 + (Фl * tl) / 12

Where, Fn – cost of fixed assets at the beginning of the year, tg.

Fvand Fl- the cost, respectively, of newly introduced and liquidated fixed assets, tg.

tv– the number of full months of operation of the newly introduced fixed assets;

tl- the number of months remaining from the time of retirement of fixed assets to the end of the year.

The balance of fixed assets is determined by the formula:

FTo= Fn +Fv -Fl

Where, FTo,Fn- the cost of fixed assets at the beginning and end of the year;

Fv,Fl– the cost of fixed assets being introduced and liquidated.

Retirement rate of fixed assets(TOselect) determined by the formula:

TOselect = Fbyb/ Fn.g.

Where, f select - cost of retiring funds in the current year, thousand tenge;

Fn.g.– cost of OPF at the beginning of the year, thousand tenge

Update coefficient (Kobn) OPF:

TOobn= Fvp/ Fsince.

Where, Fvp- the cost of newly received OPF in the current year, thousand tenge;

Fc.g- cost of OPF at the end of the year, thousand tenge.

Progressive update rate (KNS) OPF:

TONS= FNS/ Fsince.

Where, f NS- the cost of newly received progressive OPF, thousand tenge.

Wear factor (Kout) OPF:

TOout= I / FNS

Where, AND- the amount of the accrued depreciation of the OPF at the time of calculation, starting from the day the funds are put into operation, thousand tenge.

FNS,- the initial cost of the OPF.

Expiry factor (KG) OPF:

TOG= Fost/ FNS

TOG= (Фn-i) / FNS

TOG= 1 - TOout

Where, Fost- residual value of OPF, thousand tenge.

Growth rate (KNS) OPF:

TONS= (Фvp -Fselect)/ Fn.g.

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Introduction

Fixed capital (fixed assets) is the main component of the capital of firms in most industries, primarily in the real sector.

Represents the cost of labor instruments that are reused in business process without changing its material-natural form. The features of the reproduction of fixed capital are determined by a number of characteristic features, which include:

· Gradual transfer of the value of fixed capital to the value of manufactured products; movement in use value;

· Turnover of the cost of capital;

· Partial reproduction of value and finished products and their accumulation in monetary form;

Section 1. The essence of capital

In economic theory, different content is invested in the concept of "capital".

Mercantilists believe that " capital"is a self-increasing value. At the same time, they associated the accumulation of wealth with the sphere of circulation without taking into account any labor costs associated with the creation of goods.

A. Smith and D. Riccardo associate capital with labor costs. Smith believes that capital acts as accumulated labor, D. Riccardo as means of production, physiocrats consider land as capital.

· Constant capital (in the form of means of production);

· Money capital (in the form of money);

· Commodity capital (in the form of goods).

At the same time, by spending specific labor, the wage laborer transfers the value of the elements of constant capital to the product and creates use value. Moreover, this transfer of value depends on the quality side of labor.

Thus, thanks to the labor of hired workers, capitalists can simultaneously maintain their constant capital and extract surplus value.

1.1 The modern interpretation of capital in Western economic literature

U. Baumal and A. Blinder define capital as reserves (stocks) of an enterprise, equipment or other production resources owned by firms or other organizations.

K. McConnell and S. Brue adhere to a similar position. Capital is man-made resources used to produce goods, goods that do not directly satisfy human needs.

J. Robinson connects the concept of capital with money. She believes that capital, when not invested, appears in the form Money.

1.2 Fixed capital of the enterprise, its composition, structure and analysis

Basic capital is the monetary value of fixed assets.

The fixed assets of an industrial enterprise are a set of material values ​​created by social labor, participating in the production process for a long time in unchanged natural form and transferring their value to manufactured products in parts as they wear out.

Fixed assets are represented primarily by buildings and structures, transmission devices, machinery, equipment and instruments, vehicles, tools, household durables, and intangible assets.

There are several classifications of fixed assets. Depending on the nature of the participation of fixed assets in the sphere of material production, they are divided into:

According to the existing classification, industrial fixed assets in terms of their composition, depending on the intended purpose and functions performed, are divided into the following types:

building;

structures;

transmission devices;

machinery and equipment, including:

(power, work, measuring and regulating items, Computer Engineering, others);

vehicles;

instruments;

production inventory and accessories;

other fixed assets (draft animals, perennial plantations).

Buildings and structures for industrial purposes, transmission devices, machinery and equipment, vehicles form the fixed assets of industrial purposes.

Basically, the mass of production fixed assets in industry is concentrated in the active part.

The composition and structure of fixed assets depend on the specifics of the industry specialization, technology and organization of production, technical equipment. The structure of fixed assets can be different by industry and within a single industry due to the same reasons.

Fixed assets are accounted for in statistics using the balance of fixed assets. He is statistical table, the data of which characterize the volume, structure, reproduction and use of fixed assets. The analysis of fixed assets is carried out in many areas, including:

Moreover, both the initial and replacement cost can be both full, i.e. at the time of purchase, or the next revaluation, and residual, i.e. minus depreciation or with additions from modernization and reconstruction.

Coefficient wear and tear- this is the share in the fixed assets of those funds whose age exceeds the standard time frame.

4. Analysis of the efficiency of the use of fixed assets, which is characterized by a number of coefficients, including such as:

return on assets;

capital intensity of fixed capital.

1.3 Valuation and accounting of fixed assets

The accounting of fixed assets in monetary terms is carried out to establish the depreciation of fixed assets of the industry and accrual

sums of money, respectively, depreciation (depreciation), to take into account the dynamics, structure of fixed assets, determine the cost of production and the profitability of the enterprise.

2. In connection with the duration of production functioning and under the influence of growth in labor productivity, the price of fixed assets created at different times may decrease (this is possible in normal economic conditions, with a low inflation rate).

To eliminate the distorting influence of the price factor, fixed assets are evaluated according to their replacement cost, that is, according to the cost of their production in today's conditions.

To determine the replacement cost,

revaluation of fixed assets using two main methods:

1) by indexing their book value;

2) by direct recalculation of the book value in relation to the prices formed on January 1 of the next year.

In modern conditions, with a high level of inflation, as never before, there is a need for periodic revaluation of fixed assets and determination of their replacement cost, corresponding to real economic circumstances.

It allows you to judge the degree of wear and tear of labor instruments, plan the renewal and repair of fixed assets. There are two types of residual values:

1) it is determined at the initial cost, determined as depreciation is charged,

2) at the replacement cost, determined by expert advice in the process of revaluation of labor instruments.

Assessment based on replacement cost, taking into account depreciation, makes it possible to determine the actual value of existing fixed assets, as well as to compare the volumes of fixed assets of individual enterprises in the industry.

4. Liquidation price- this is the cost of selling worn-out and discontinued fixed assets (often the price of scrap).

5. Average annual price fixed assets are determined on the basis of their initial cost, taking into account their commissioning and liquidation.

The monetary value of fixed assets is reflected in the accounting at the initial (balance sheet), replacement, full and residual value.

Section 2. Physical and moral deterioration of fixed capital

Fixed assets are subject to physical and moral deterioration both in the process of their use and in inactivity. Consider the characteristics of depreciation, its types, depreciation and leasing, indicators of the use of fixed capital and its renewal.

2.1 Physical depreciation of fixed capital

Physical wear determined based on the service life of fixed assets.

The size of physical depreciation of fixed assets in the process of their use is influenced by many factors, including:

2) the quality of fixed assets; whether the equipment is stationary or portable, portable wears out faster.

3) features of the technological process and the degree of protection of fixed assets from the influence of external conditions;

4) the quality of maintenance of fixed assets;

5) strict adherence to technological regimes, technically competent operation of machinery and equipment.

Machines, machine tools and other types of fixed assets are not only physically worn out, but also become backward in their technical characteristics and economic efficiency.

a) Depreciationthe maincapital. Herthe mainfunctions.

The main functions depreciation- This is the provision of reproduction, the restoration of fixed assets and accounting. Data on depreciation are reflected in the accounting cards of fixed assets, and the amount of depreciation of fixed assets for the years of their operation is determined.

The monetary expression of the transferred part of the value of fixed assets is called depreciation deductions. Depreciation deductions are included in the cost of production (production costs).

The amount of depreciation deductions is determined according to the depreciation rates from the initial (book) cost of fixed assets, taking into account their service life.

Norm depreciation is the ratio of the annual amount of depreciation charges to the average annual cost of fixed production capital, expressed as a percentage.

The depreciation rate shows how many years the cost of the fixed capital must be recovered. In the conditions of scientific and technological progress, the service life of equipment is reduced, therefore, the problem of accelerated depreciation appears.

In a number of industries, depending on the technological features of production, the mode and shift of equipment operation and other factors, the depreciation rates can be increased or decreased.

On the other hand, the underestimated share of deductions lengthens the turnover period of funds invested in the acquisition of fixed assets, and this leads to their aging and, as a consequence, to a decrease in competitiveness, loss of their positions in the market.

Depreciation deductions are calculated using the direct account method based on the average annual cost of certain types of fixed assets and the established depreciation rates.

The fixed assets of an industrial enterprise are a set of material values created by social labor, participating in the production process for a long time in unchanged natural form and transferring their value to manufactured products in parts as they wear out.