I. Introduction.
II. Fixed capital of the enterprise, its composition and structure.
III. Evaluation and accounting of fixed capital.
IV. Depreciation and amortization of fixed capital. Leasing of fixed capital.
V. Indicators of the use of fixed capital.
VI. Conclusion. I. Introduction.
Of course, for the normal functioning of the enterprise, it is necessary to have certain means and sources. The main production assets, consisting of buildings, structures, machines, equipment and other means of labor that participate in the production process, are the most the main basis firm's activities. Without them, nothing could have happened.
Rational and economical use of fixed assets is the priority task of the enterprise.
Having a clear idea about each element of fixed assets in the production process, about their physical and moral deterioration, 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 an enterprise is increased, ensuring a reduction in production costs. and, of course, productivity growth. II. Fixed capital of the enterprise, its composition and structure.
Fixed capital is the monetary value of fixed assets.
Fixed assets industrial enterprise represent a set of material values created by social labor, participating for a long time in the production process in an unchanged 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:
n production fixed assets (machinery, equipment, hydraulic structures - dams, canals, reservoirs; transport facilities - bridges, roads, tunnels; power networks, 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;
n non-production fixed assets (residential buildings, kindergartens, schools, baths, laundries, and other household and cultural facilities, 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 the product, because it is not produced; they are reproduced at the expense of the national income.
Fixed assets are the most important and predominant part of all funds in industry (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, profit and profitability.
According to existing classification fixed assets of industry in their composition, depending on the purpose and functions performed, are divided into the following types:
Structures;
Transfer devices;
Machinery and equipment, including:
Power;
workers;
Measuring and regulating objects;
Computer Engineering;
Vehicles;
Instruments;
Production inventory and accessories;
Other fixed assets (working cattle, perennial plantings).
Each group consists of many different means of labor. There are three sub-groups within the building group: industrial buildings, non-industrial buildings and housing. Structures are divided into underground, oil and gas wells, mine workings. Transfer devices include pipelines and water pipes. Power machines are turbines, electric motors. Working machines and equipment are classified according to the branches of use. Tools and inventory are accounted for as fixed assets only if they serve for more than one year and cost more than 300 rubles5 (if less, then these are already low-value and wearing out items and are included in working capital).
Buildings and structures for industrial purposes, transmission devices, machinery and equipment, vehicles form fixed assets for industrial purposes.
The ratio of individual groups of fixed assets in their total volume is specific (production) structure of fixed assets. Depending on the direct participation in the production process, production fixed assets are divided into: active(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 specialization of the industry, technology and organization of production, technical equipment. The structure of fixed assets may vary by industry and within a particular industry for the same reasons.
For best use fixed assets in the process of their operation, it is necessary to keep a clear record of the presence 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. Evaluation and accounting of fixed capital.
Accounting for fixed assets in monetary terms is made to establish the wearability of fixed assets of industry and the calculation of sums of money, respectively, wearability (depreciation), to take into account the dynamics, structure of fixed assets, determine the cost of production and the profitability of the enterprise.
In connection with the duration of the functioning of fixed assets, their gradual depreciation and changes in the conditions of reproduction during this time, there are several methods for assessing fixed assets: according to the initial (balance sheet), replacement, residual, liquidation and average annual value of fixed assets.
1. Initial cost of fixed assets is the cost (price) of acquiring this type of fixed assets; shipping costs for delivery; the cost of installation, adjustment, etc. . This value is expressed in prices that were in force at the time of the acquisition of this object, and based on its value, enterprises register elements of fixed assets, account them on the balance sheet of the enterprise, as a result of which it is also called the book value of fixed assets.
2. Due to the duration of production functioning and under the influence of labor productivity growth, the price of fixed assets created in different time may decrease (this is possible under normal economic conditions, with a low inflation rate).
In the economics of the enterprise, capital is treated as the sum Money directed to the manufacturing sector or as investments in the production of goods and services.
All capital is divided into fixed and circulating.
Main capital- these are means of labor that function in an unchanged natural form for a long time and transfer their value to the finished product in parts, as they wear out. These include buildings, structures, machinery and equipment that are repeatedly involved in the production process.
In accordance with PBU 6/01, fixed assets are objects worth more than 10,000 rubles. and service life of more than a year.
Another part of the capital is circulating - it is raw materials, materials, energy.
Working capital is spent once and fully transfers its value to products. Working capital includes items used for a period of less than 12 months, regardless of their value.
The measure of consumption of fixed capital is depreciation.
All production assets are diverse in terms of duration and service, which makes it necessary to classify them.
Classification of fixed assets:
1. Depending on the functions performed in the production process, according to the classifier of fixed assets adopted in Russia, fixed assets are grouped into :
1. Land plots and nature management objects.
2. Buildings.
3. Structures.
4. Transfer devices.
5. Machinery and equipment, including:
5.1. Power machines and equipment;
5.2. Working machines and equipment;
5.3. Measuring and regulating instruments, devices and laboratory equipment;
5.4. Computer Engineering;
5.5. Other machines and equipment.
6. Vehicles.
7. Production and household inventory.
8. Working cattle.
9. Productive livestock.
10. Perennial plantations.
11. Other types of fixed assets.
2. According to their purpose, fixed assets are divided into industrial and non-industrial funds.
Industrial funds include the means of labor that are directly employed in the production process. Non-industrial assets include labor tools that create conditions for the production process.
Non-industrial funds are housing stock, utilities, cultural and educational institutions (libraries, clubs, theaters), buildings (hospitals).
3. According to the degree of participation in the production process, fixed assets are divided into active and passive.
active part(machinery, equipment) directly affects the production, quantity and quality of products (services).
Passive elements(buildings, structures) create the necessary conditions for the production process.
The production structure of fixed assets characterizes their composition and the percentage of different groups in their total value.
Valuation of fixed assets
Fixed assets are accounted for in kind and in cash. With the help of natural indicators, it is carried out separately for each group of the above classification. This form of accounting allows you to determine the material structure of fixed assets, their technical level, to draw up a balance of equipment.
The initial indicators for accounting for fixed assets in physical terms are inventory data (checking the balances of fixed assets by counting them in kind). Each item of fixed assets has its inventory number and technical passport.
Accounting in monetary form is carried out to determine the total value of fixed assets, their dynamics, structure, calculation of depreciation charges, economic efficiency of capital investments.
In order to establish the amount of depreciation, determine the cost of production, calculate profits, fixed assets are taken into account in monetary terms.
There are several types of monetary value:
At original cost, including the cost purchase of equipment, its delivery and installation (value-added tax and other refundable taxes are not taken into account (except as provided by the legislation of the Russian Federation)).
At residual value, which is the difference between the initial cost of equipment and its wear and tear over a certain period.
According to the replacement cost or the amount of money that must be spent to purchase similar equipment in the current period at market prices. Also, in accordance with the decisions of the Government of the Russian Federation, conversion factors developed by the State Statistics Committee can be applied.
They are a set of material values used as means of labor and acting in kind for a long time.
Their initial formation occurs during the establishment of the enterprise at the expense of the authorized capital. At the time of acquisition of fixed assets and their acceptance on the balance sheet, their value quantitatively coincides with the value of fixed assets. In the future, as part of the production process, the value of fixed assets bifurcates: one part, equal to depreciation, is transferred to finished products, the other expresses the residual value of existing fixed assets.
The depreciated part of the cost of fixed assets, transferred to finished products, as the latter is sold, gradually accumulates in cash in the depreciation fund and is used to reproduce fixed assets.
Operations with fixed assets (receipt and disposal) have a multifaceted and versatile impact on the financial condition and results of economic activity of enterprises.
According to the material-natural composition (types), fixed assets are divided into: buildings and structures; working and power machines and equipment; measuring and regulating instruments and devices; computer technology; vehicles; tool; production and household inventory and accessories; productive and breeding stock; perennial plantations; internal roads and others. And also in the composition of fixed assets are taken into account: capital investments for the radical improvement of land; capital investments in leased fixed assets; land; objects of nature management (water, subsoil and other natural resources).
By functional purpose fixed assets are divided into:
- industrial production, which are directly involved in the production process and are used in the main, auxiliary and auxiliary shops, laboratories, warehouses (machines, equipment, etc.);
- non-production, which are not directly involved in the production process, but are used in the social sphere of the enterprise, housing and communal services, health care, culture (residential buildings, kindergartens, schools, hospitals, etc.)
Depending on the degree of impact of fixed assets on the objects of labor, they are divided into active and passive.
Active fixed assets include those that in the process of production directly affect the object of labor, modifying it (machines, equipment, etc.).
The rest are passive, because. only create the necessary conditions for the production process (buildings, structures, etc.).
By use, fixed assets are divided into:
- in operation;
- in stock (conservation).
For the purposes of taxation, fixed assets subject to depreciation (depreciable property) are divided into depreciation groups in accordance with their useful lives.
Depreciable property is combined into the following depreciation groups:
- the first group - all non-durable property with a useful life of 1 to 2 years inclusive;
- the second group - property with a useful life of more than 2 years up to 3 years inclusive;
- the tenth group - property with a useful life of over 30 years. The classification of fixed assets included in depreciation groups is approved by the Government of the Russian Federation.
- intangible assets;
- long-term financial investments;
- Construction in progress.
| Valuation of fixed assets is the monetary expression of their value. |
There are four types of evaluation:
- initial (the sum of the actual costs of the organization for the acquisition, construction and manufacture, excluding value added tax and other reimbursable taxes, as well as the actual costs of delivering objects and bringing them into a condition suitable for use);
- replacement (the cost of fixed assets established as a result of revaluation);
- residual (the difference between the original or replacement cost and the amount of depreciation, i.e. this is that part of the cost of fixed assets that has not yet been transferred to manufactured products);
- liquidation (represents the proceeds from the sale of obsolete fixed assets with an expired useful life, minus the costs of dismantling, dismantling, sale, registration).
The fixed assets involved in the production process gradually lose their original characteristics due to their operation and natural wear. Distinguish between physical and moral depreciation.
Physical wear and tear is understood as the loss of their original qualities by the means of labor. The level of physical deterioration depends on: the quality of fixed assets, the degree of their operation, the level of aggressiveness of the environment, qualifications service personnel, timeliness of PPR, etc.
To characterize the degree of physical depreciation of fixed assets, indicators such as:
- coefficient of physical depreciation (depreciation / initial cost);
- shelf life ratio (original cost - depreciation / initial cost).
At each enterprise, the process of physical and obsolescence of fixed assets must be managed. The main goal of management is to prevent excessive depreciation of fixed assets, especially their active part, which can lead to negative economic consequences for the enterprise.
Operation of fixed assets and intangible assets limited by their service life, after which they are out of circulation, which necessitates renewal.
A continuous process of updating fixed assets to maintain their quantitative and qualitative state, carried out through the acquisition, reconstruction, technical re-equipment, modernization and overhaul, is called the reproduction of fixed assets.
Reproduction has two forms:
- simple reproduction, in which the cost of compensating for the depreciation of fixed assets corresponds to the amount of accrued depreciation;
- extended reproduction, in which the cost of depreciation exceeds the amount of accrued depreciation.
Sosk \u003d Sosn + Sosp - Sosv,
where Sosk - the cost of available fixed assets at the end of the year;
Sosn - the cost of available fixed assets at the beginning of the year;
Sosp - the cost of fixed assets received in the reporting year, incl. commissioned new fixed assets;
Sosv - the cost of fixed assets retired in the reporting year, incl. through liquidation or write-off.
For a more detailed analysis of the process of reproduction of fixed assets and the effectiveness of their use, indicators such as:
- the coefficient of renewal of fixed assets (Cosp / Sosk x 100);
- fixed assets retirement ratio (Cosv / Sosn x 100;
- return on assets (revenue from the sale of goods, works, services / average cost of fixed assets in the analyzed period);
- capital intensity (average cost of fixed assets / proceeds from the sale of goods, works, services);
- capital-labor ratio (average annual cost of fixed assets / average annual number of PPP);
- profitability of fixed assets (profit / average cost of fixed assets).
Depreciation is the gradual transfer of the value of fixed assets to the manufactured product, the targeted accumulation of funds and their subsequent use for the reproduction (reimbursement, restoration) of worn-out fixed assets.
Depreciation deductions - a monetary expression of the cost of depreciation of fixed assets and intangible assets.
They are included in the expenses of enterprises associated with the production and sale of products and, as part of the proceeds from the sale of products, are returned to the account of the enterprise, becoming a source of financing for both simple and expanded reproduction.
The ratio of the annual depreciation of fixed assets to their original cost, expressed as a percentage, is called the depreciation rate. This is one of the most important economic tools for managing the process of reproduction of fixed assets and refers to long-term standards. Their level, structure and degree of differentiation are determined by the objectives of economic policy and do not remain the same for each period of economic development.
The depreciation rate shows what proportion of their book value is annually transferred by means of labor to the products they create, and is calculated by the formula:
On \u003d Soc. + Rd + Rm - Res. ,
Sost.prim. x T
where Na is the depreciation rate;
Sost.prim. - the initial cost of fixed assets;
Rd - expenses for the dismantling and sale of fixed assets;
Rm - modernization costs;
Status - residual value of fixed assets;
T is the standard service life of fixed assets (useful life).
The annual amount of depreciation charges is determined by types of fixed assets based on their average annual cost according to the formula:
A \u003d Cossr x Na,
100
where A is the annual amount of depreciation;
Сav - the average annual cost of fixed assets.
The cost of fixed assets of the enterprise changes during the year due to their input and disposal. Therefore, in financial and economic calculations, the average annual cost is most often used, determined by the formula:
Sossr \u003d Sosn + Sosp X K1 \ 12 - Sosv x K2 \ 12,
where Sosn - the cost of fixed assets at the beginning of the year;
Sosp - the cost of received (introduced) fixed assets;
Sosv - the cost of retired fixed assets during the year;
K1 and K2 - the number of full months of operation of fixed assets during the year, taking into account the time of commissioning (disposal).
The cost of not all fixed assets is repaid through depreciation.
For housing facilities (residential houses, dormitories, apartments, etc.), external improvement facilities and other similar facilities (forestry, road facilities, specialized navigation facilities, etc.), as well as productive livestock, buffaloes, oxen and deer, perennial plantations that have not reached the operational age, the cost is not repaid, i.e. depreciation is not charged. For the specified items of fixed assets and items of fixed assets non-profit organizations depreciation is charged at the end of the reporting year according to the established depreciation rates. The movement of depreciation amounts on the specified objects is taken into account on a separate off-balance sheet account.
Objects of fixed assets, consumer properties of which do not change over time (land plots and nature management objects), are not subject to depreciation.
Accrual of depreciation of fixed assets in order to accounting produced in one of the following ways:
- linear way;
- reducing balance method;
- method of writing off the cost by the sum of the numbers of years of the useful life;
- method of writing off the cost in proportion to the volume of products (works). The application of one of these methods of depreciation for a group of homogeneous items of fixed assets is carried out during the entire useful life of the items included in this group.
- in the straight-line method - based on the original cost or current (replacement) cost (in the event of a revaluation) of an item of fixed assets and the depreciation rate calculated based on the useful life of this item;
- with the reducing balance method - based on the residual value of the fixed asset at the beginning of the reporting year and the depreciation rate calculated on the basis of the useful life of this item and the acceleration factor established in accordance with the legislation of the Russian Federation;
- in the case of the method of writing off the cost by the sum of numbers of years of the useful life - based on the original cost or current (replacement) value (in the event of a revaluation) of the fixed asset item and the ratio, the numerator of which is the number of years remaining until the end of the useful life of the item, and in denominator - the sum of the number of years of the useful life of the object. During the reporting year, depreciation deductions for fixed assets are accrued monthly, regardless of the method of accrual used, in the amount of 1/12 of the annual amount.
- with the method of writing off the cost in proportion to the volume of production (work), depreciation is charged based on the natural indicator of the volume of production (work) in the reporting period and the ratio of the initial cost of the fixed asset object and the estimated volume of production (work) for the entire useful life of the fixed asset object. The amounts of accrued depreciation on fixed assets are reflected in
For tax purposes, taxpayers charge depreciation in accordance with Art. 259 of the Tax Code of the Russian Federation by one of the following methods:
- linear method;
- non-linear method.
The accrual of depreciation on an object of depreciable property is terminated from the 1st day of the month following the month when the value of such an object was completely written off or when this object was removed from the taxpayer's depreciable property for any reason.
The taxpayer applies the straight-line depreciation method to buildings, structures, transmission devices included in the eighth to tenth depreciation groups, regardless of the timing of commissioning of these facilities.
For other fixed assets, the taxpayer has the right to apply any of the methods provided for by the Tax Code of the Russian Federation.
When applied linear method the amount of depreciation accrued for one month in relation to an object of depreciable property is determined as the product of its initial (replacement) cost and the depreciation rate determined for this object according to the formula:
K \u003d (1 / p) x 100%,
where K is the depreciation rate as a percentage of the original (replacement) cost of the depreciable property;
When applying the non-linear method, the amount of depreciation accrued for one month in relation to an object of depreciable property is determined as the product of the residual value of an object of depreciable property and the depreciation rate determined for this object according to the formula:
K \u003d (2 / n) x 100%,
where K is the depreciation rate as a percentage of the residual value applied to this depreciable property;
n is the useful life of this depreciable property, expressed in months.
For depreciable property, plant and equipment used to operate under aggressive environment and (or) increased shifts, the taxpayer has the right to apply a special coefficient to the basic depreciation rate, but not higher than 2. be taken into account in accordance with the terms of the financial lease agreement (leasing agreement), have the right to apply a special coefficient, but not higher than 3. These provisions do not apply to fixed assets belonging to the first, second and third depreciation groups, if the depreciation for these fixed assets calculated on a non-linear basis.
Improving the use of fixed assets is reflected in the financial results of the enterprise and can be achieved by:
- release of the enterprise from excess equipment, machinery and other fixed assets or renting them out;
- timely and high-quality implementation of planned preventive and overhauls;
- acquisition of high-quality fixed assets;
- raising the level of qualification of service personnel;
- timely renewal, especially the active part, of fixed assets in order to prevent excessive moral and physical deterioration;
- improving the quality of preparation of raw materials and materials for the production process;
- improving the organization of production and labor in order to reduce the loss of working time and downtime in the operation of machinery and equipment, etc.
FIXED AND WORKING CAPITAL OF THE ENTERPRISE
1. Fixed capital of the enterprise
2. Sources of formation of fixed capital of the enterprise
3. Working capital of the enterprise
4. Sources of formation of working capital of the enterprise
Fixed capital of the enterprise
Representing 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 capital is reflected as fixed assets. According to the material and material composition, fixed capital is fixed assets.
Fixed assets are a set of material values produced by social labor, which are used in an unchanged natural form as means of labor over a long period of time and lose their value in parts.
As a criterion for assessing the duration of turnover, the duration of the process of material production, equal to one year, was taken. Based on this criterion, in theory and practice, it is customary to attribute labor instruments with a turnover of more than one year to fixed assets, and with a turnover of up to one year - to assets in circulation.
From the point of view of financial accounting in an enterprise, fixed assets are a part of property used as means of labor in the production of products, performance of work or provision of services, or for the management of an organization for a period exceeding 12 months. Hence, they do not apply to fixed assets and are accounted by the enterprise (organization) as part of working capital items with a service life of less than 12 months, regardless of their value.
For accounting and planning of reproduction, fixed assets are divided into groups and types in accordance with their purpose in the production process. According to the Model All-Russian Classifier of Fixed Assets, approved by the Decree of the State Committee of the Russian Federation for Standardization, Metrology and Certification of December 26, 1994 No. 359, the following groups of fixed assets are distinguished: buildings, structures, transmission devices, machinery and equipment, vehicles, etc. various groups of fixed assets in their total value is the specific structure of fixed assets.
Fixed assets are divided into production and non-production depending on the intended purpose and the degree of their participation in the reproduction process.
production funds It is customary to call means of production that, over many production cycles, retain their natural form and transfer their value to the finished product gradually, as they wear out. However, one cannot put an equal sign between 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 cost of the product produced.
Fixed assets 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, active and passive fixed assets are distinguished. Active fixed assets are machines, equipment, transmission devices, Computer Engineering, 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
The reproduction of fixed capital in enterprises can be carried out either through direct investment, or by transferring fixed capital objects by the founders against contributions to authorized capital, or upon gratuitous transfer by legal entities and individuals.
Direct investments represent the costs of creating new fixed assets, expansion, reconstruction and technical re-equipment of existing ones.
Financing of direct investments- this is the procedure for providing funds, a system of spending and monitoring their targeted and effective use.
Currently, direct investment financing is carried out:
At the expense of own financial resources and on-farm reserves;
Borrowed funds;
Attracted funds received from the issue of securities, share and other contributions of legal entities and individuals;
Cash received in the order of redistribution from the centralized investment funds of concerns, associations and other associations;
Funds from off-budget funds;
Allocations from the budgets of various levels provided on a non-refundable basis;
funds from foreign investors.
Own financial resources enterprises include the initial contributions of the founders at the time of the organization and part of the funds received as a result of its economic activities (savings from cost reduction, savings from lower equipment prices, depreciation, profit from core activities).
TO borrowed funds relate long-term bank loans, which are provided to the enterprise on the basis of a loan agreement, on the terms of repayment, urgency, payment, security under guarantees, pledge of real estate, pledge of other assets of the enterprise.
The source of financing the reproduction of fixed assets are also loans from other companies. Companies may also be provided loans to individual investors (individuals).
IN Lately 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 private equity financing are involved funds, received by enterprises in the financial market.
One way out of this situation is the development of leasing. Leasing - it's kind entrepreneurial activity, aimed at investing temporarily free cash, 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 tenant (lessee) for a fee for temporary use for business purposes. Leasing allows enterprises to reduce the level of equity in the sources of investment financing.
Funds from federal and regional budgets and from sectoral and intersectoral off-budget funds allocated mainly to finance federal, regional or sectoral targeted programs, the implementation of which will allow to concentrate financial resources on the most important areas of development of economic sectors 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 for foreign investors.
Depreciation- transfer in parts of the value of fixed assets as they are physically depreciated on the product (or services) produced with their help.
Physical deterioration renders machinery and equipment unusable and makes it impossible for them to continue to participate in production. Along with physical depreciation, fixed assets are also undergoing obsolescence. This phenomenon is explained by the fact that the pace of technological progress that is taking shape in world economic practice leads 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 analogues operating at other enterprises.
Depreciation is carried out with the aim of accumulating funds for the subsequent restoration and reproduction of fixed assets. Depreciation deductions are 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 that serve the process of economic activity, participating simultaneously in the production process and in the process of selling products.
Current assets act, first of all, as a cost category. Working capital in the process of circulation takes the form of inventories, work in progress, finished products. Unlike goods and materials, working capital is not spent, but advanced, returning after the end of one circuit and entering the next.
By function working capital enterprises are divided into circulating production assets And circulation funds.
Revolving production assets serve the manufacturing industry.
Production assets are the material basis of production. They are necessary to ensure the production process, the formation of value. Circulating production assets serve the sphere of production, fully transfer their value to the newly created product, while changing their original form during one production cycle.
Circulating production assets include raw materials, fixed and auxiliary materials, purchased semi-finished products, fuel, fuel, packaging, tools, inventory, spare parts. All of them are inventories. In addition to them, working capital includes work in progress and deferred expenses.
The main purpose of funds advanced to 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, to serve the circulation of enterprise funds and to achieve unity of production and circulation. Circulation funds consist of finished products in stock; goods shipped; cash in the cash desk of the enterprise and in bank accounts; accounts receivable; funds in other accounts.
In addition to the division by composition, working capital can be classified according to the following criteria:
By place and role in the process of reproduction distinguish between working capital in the sphere of production and the sphere of circulation. Establishing the optimal ratio of working capital in production and circulation has importance to provide funds for the implementation of the production program, and is also one of the main factors in increasing the efficiency of the use of working capital.
According to the degree of planning current assets are divided into standardized and non-standardized. Domestic practice involves rationing, i.e. establishment of planned norms of stock and norms for the elements of working capital, with the exception of goods shipped, cash and funds in settlements. The amount of non-standardized working capital is determined on an operational basis.
According to the sources of formation current assets are divided into own, borrowed and attracted.
The organization of working capital is fundamental in the general complex of problems of increasing their efficiency. It includes determining the composition and structure of working capital; determination of the enterprise's need for working capital; determination of sources of working capital formation; responsibility for the safety and effective use working capital.
Under composition of working capital c is understood as a set of elements that form circulating production assets and circulation funds, i.e. their placement in 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 amount of working capital.
The implementation of the production process at the enterprise involves the interaction of three factors of production: fixed assets (means of labor), objects of labor and labor.
Fixed capital of the enterprise is the monetary value of its fixed assets. Fixed assets- means of labor that repeatedly participate in the production process, while retaining their natural-material form and transferring their value to the manufactured products in parts as they wear out in the form of depreciation.
The criteria for classifying the means of labor as fixed assets are the period and purpose of their use. In accordance with the legislation, fixed assets are considered to be means of labor with a service life of more than one year, intended for production use.
For the organization of primary accounting, statistical reporting, evaluation and analysis, fixed assets are classified according to a number of criteria:
by natural composition fixed assets are divided into the following groups: buildings, structures, transmission devices, working and power machines and equipment, measuring and control instruments and devices, computers, vehicles, tools, production and household equipment and accessories, working and productive livestock, perennial plantations , on-farm roads, etc. This grouping is of great importance for calculating depreciation, calculating indicators for the use of fixed assets, as well as for studying their dynamics and structure;
by function fixed assets are divided into production and non-production. Production fixed assets are the means of labor that are directly involved in the production process or create conditions for its normal implementation (machines, equipment, buildings, etc.) and make up the material and technical base of the enterprise. non-production fixed assets carry a social burden and are not directly involved in the production process. These include objects of health care, education, physical culture, Catering and housing and communal services, which are on the balance sheet of the enterprise and are designed to meet the various needs of employees;
Depending on the degree of participation in the production process in the practice of planning and economic analysis, fixed production assets are divided into active and passive. active part funds affects the volume of production and its quality, directly affecting the object of labor (machinery and equipment). Passive fixed assets do not directly affect the object of labor, but create conditions for the normal functioning of production (buildings, structures, etc.). A favorable trend for the enterprise is considered to be an increase in the share of the active part in the structure of fixed production assets, since this is one of the factors for increasing the economic efficiency of the enterprise.
An analysis of the availability and use of fixed assets in an enterprise, their qualitative state and reproduction is impossible without determining their structure. each enterprise should strive to achieve the optimal species, age and technological structure of fixed assets.
Species (production) the structure of fixed production assets is characterized by the share of each group of funds in terms of natural-material composition in their total average annual value. The production structure depends on many factors, including the sectoral affiliation of the enterprise, the geographical location of production, the size of the enterprise, the technical level of production and the rate of PTP, the level of concentration, specialization, cooperation, combination and diversification of production.
Age the structure of fixed production assets is the ratio of individual age groups of funds in their total value. In the economic analysis, the following distribution of funds by age is accepted: up to 5 years; from 5 to 10; from 10 to 15; from 15 to 20; over 20 years. The age structure makes it possible to calculate the average age of fixed assets as a weighted average.
Technological the structure of fixed production assets reflects their distribution by structural divisions of the enterprise and specific gravity funds of each division in their total value.
Accounting and valuation of fixed assets conducted in physical and monetary terms. Patural indicators provide data for calculating production capacity, equipment balance, technical level of production. They are calculated for each group of fixed assets according to their physical composition. A valuation is necessary for accounting, analysis and planning, to determine the dynamics and structure of fixed assets, depreciation, performance indicators for the use of fixed assets, as well as to calculate the volume and structure of investments.
The valuation of fixed assets is carried out in the following areas.
Initial cost fixed assets. Allows you to set the amount of costs for their purchase or construction and is the basis for their registration and determination of depreciation for renovation (full restoration). It includes all costs for the construction (construction) or acquisition of fixed assets, including delivery and installation costs, as well as other costs necessary to bring this facility to a state of readiness for operation for its intended purpose (with the exception of PDS). Methods for the initial assessment of fixed assets largely depend on the source of receipt of fixed assets for the enterprise. Paprimer, the initial cost of fixed assets contributed by the founders to the authorized capital of the enterprise is determined by agreement of the parties; the initial cost of fixed assets manufactured at the enterprise itself, as well as purchased for a fee from other enterprises - based on the actual costs incurred for the construction (construction) or acquisition of these objects, including delivery, installation and installation costs. If fixed assets that were in operation are received free of charge, they are usually valued at residual value.
The fixed assets of an enterprise can be created and acquired at different times, so their initial assessment may not be comparable with the real conditions. As a result, fixed assets at the enterprise are valued at restorative value, which is understood as the cost of their reproduction in modern conditions. The deviation of the replacement cost of fixed assets from the original cost depends mainly on the rate of inflation and scientific and technical progress. The replacement cost is determined as a result of the revaluation of fixed assets.
Revaluation of fixed assets(determination of their real value) allows you to objectively assess the true value of fixed assets; more correctly and accurately determine the costs of production and sale of products, as well as the amount of depreciation charges sufficient for simple reproduction of fixed assets; objectively set the sale prices for the fixed assets being sold and the rent (in the case of leasing them). During the period of transition to a market economy, which was accompanied by high rates of inflation, fixed assets were revalued six times: as of July 1, 1992; as of January 1, 1994; as of January 1, 1995; as of January 1, 1996; January 1997 and January 1, 1998 (optional).
Residual the cost is the difference between the original, or replacement, cost and the amount of depreciation, i.e., this is that part of the cost of fixed assets that has not yet been transferred to manufactured products. The determination of the residual value is necessary, first of all, to assess the qualitative state and plans for the reproduction of fixed assets, as well as to draw up a balance sheet.
The company can also define liquidation the cost of fixed assets, which is established by subtracting the proceeds from the sale of worn-out or decommissioned fixed assets and the cost of their dismantling.
4.2. Depreciation, depreciation and reproduction of fixed assets
One of the features of the fixed assets of the enterprise is their multiple use in the production process. However, over time, fixed assets lose their original characteristics due to operation and natural wear and tear.
Distinguish between physical and moral depreciation of fixed assets.
Under wear and tear refers to the loss of the means of labor of their original production and technical qualities in the process of their use. Distinguish between complete physical depreciation, which leads to the liquidation or replacement of fixed assets with new ones (capital construction), and partial, which is compensated by repair. In addition, wear and tear can occur as a result of the use of a fixed asset (wear and tear of the first kind) and as a result of natural adverse effects, such as, for example, oxidation (physical wear of the second kind).
The level of physical depreciation of fixed assets depends on the initial quality of the latter, the degree of their operation, the level of aggressiveness of the environment in which the fixed assets operate, the skill level of maintenance personnel, the timeliness of repairs, etc.
To analyze the degree of physical depreciation of fixed assets, the following indicators are used:
1) coefficient of physical depreciation of fixed assets:
where I - the amount of depreciation of fixed assets (accrued depreciation for the entire period of operation);
Ps - the initial, or replacement, cost of fixed assets.
Physical wear can also be determined by the service life:
where Тf is the actual service life of the object;
Tn is the normative service life of the object;
2) the coefficient of validity of fixed assets, characterizing them the physical state on the certain date, is calculated by the formula:
the service life coefficient can also be determined on the basis of the physical wear coefficient:
Along with physical depreciation, fixed assets undergo obsolescence(depreciation). It manifests itself in the fact that there is a decrease in the efficiency of the use of fixed assets in production due to the fact that the means of labor depreciate, lose their value until they are physically worn out, until the end of their physical service life. Obsolescence is a direct consequence of scientific and technical progress and is expressed in two forms. The first form of obsolescence is that there is a depreciation of machinery and equipment due to the reduction in the cost of their reproduction in modern conditions. The second form of obsolescence is due to the introduction into production of more technically advanced, productive and economical machines, as a result of which there is a depreciation of old machines that are still physically fit.
Some economists distinguish a third type of depreciation - social, when there is a discrepancy social characteristics object of fixed assets (safety, level of harmful emissions, lighting) with their normal level in society.
The volume and quality of products, its competitiveness, the level of production costs and the efficiency of the enterprise directly depend on the degree of depreciation of the fixed production assets of the enterprise. Therefore, one of the most important tasks of management is to control the state of fixed assets in order to prevent their excessive physical and moral deterioration.
For economic compensation of depreciation of fixed assets, their cost in the form of depreciation deductions is monthly included in the cost of production. Depreciation- this is a gradual transfer of the cost of fixed production assets to newly created products.
Depreciation deductions are made by enterprises on a monthly basis based on the depreciation rates and book value of fixed production assets for individual groups or inventory items on the balance sheet of the enterprise.
Depreciation rate represents the established annual percentage of repayment of the cost of fixed assets and sets the amount of annual depreciation. The methodology for determining depreciation rates is the same for all enterprises, regardless of ownership and organizational and legal forms, and provides for the establishment of rates based on the classifier of fixed assets. According to the classifier, all depreciable property is divided into depreciation groups depending on the useful life. Thus, the first depreciation group includes all non-durable fixed assets with a useful life of one to two years, and the tenth depreciation group includes property with a useful life of over 30 years. The useful life within the specified boundaries is determined by the enterprise independently on the date of commissioning of an object of fixed assets.
One of the following can be used to calculate depreciation of fixed assets: ways:
linear way assumes that depreciation is charged evenly, based on the initial cost of an item of fixed assets and the depreciation rate calculated based on the useful life of this item. This method is applied to buildings, structures, transmission devices included in the eighth - tenth depreciation groups;
reducing balance method. Depreciation is charged on the basis of the residual value of the fixed asset at the beginning of the reporting year and the depreciation rate established on the basis of the useful life of this object;
method of writing off the cost by the sum of the numbers of years. The calculation of the amount of depreciation is based on the initial cost of the fixed asset and the annual ratio, where the numerator is the number of years remaining until the end of the life of the facility, and the denominator is the sum of the numbers of years of the life of the facility;
method of writing off the cost in proportion to the volume of production. Depreciation is charged on the basis of the natural indicator of the volume of production in the reporting period and the ratio of the initial cost of the fixed asset object and the estimated volume of production for the entire useful life of the object.
The application of one of the methods for a group of homogeneous fixed assets is carried out during the entire period of its useful life.
To determine the amount of depreciation for the planned period, you must:
Group the existing fixed assets at the beginning of the planning period according to a single classifier and calculate their cost (excluding fully depreciated ones);
Find the average annual cost of fixed assets for each group;
Set the amount of depreciation for the planned period.
Depreciation for fixed assets newly put into operation begins on the first day of the month following the month of their putting into operation, and for retired fixed assets it stops from the first day of the month following the month of retirement.
In addition to the above methods, in order to increase the interest of enterprises in the accelerated renewal of fixed capital, accelerated depreciation of the active part of fixed assets is also allowed. When introducing accelerated depreciation, enterprises apply a uniform method of its accrual, while in the first year of operation, up to 50% of the value of the fixed asset is written off as expenses. The method applies only to the active part of fixed assets, the life of which exceeds three years. Accelerated depreciation allows the enterprise to speed up the process of updating fixed assets, accumulate funds for technical re-equipment and reconstruction, and avoid moral and physical depreciation of labor equipment.
Reproduction of fixed assets is a continuous process of their renewal through the acquisition of new ones, reconstruction, technical re-equipment, modernization and overhaul. Its main goals are to replace worn-out fixed assets, increase the mass of fixed assets, provide enterprises with them in accordance with production program and keeping them in working order.
There are two types of reproduction of fixed assets. Simple reproduction provides for the renewal of fixed assets on an unchanged scale by replacing obsolete means of labor and overhaul. Extended reproduction involves the renewal of fixed assets in an increasing volume, i.e., increasing their physical volume through new construction, expansion of existing enterprises, reconstruction and technical re-equipment, and equipment modernization.
In a market economy, the process of reproduction of fixed assets can be carried out at the expense of various sources. Fixed assets for reproduction come from contributions to the authorized capital; at the expense of the profit remaining at the disposal of the enterprise; as a result of a gratuitous transfer; by rent.
Analysis of the process of reproduction of fixed assets provides for the calculation of the following indicators:
1) the coefficient of renewal of fixed assets:
where Kobn is the renewal coefficient, %;
Фк - cost of fixed assets at the end of the year, rub.;
Fv - the cost of fixed assets put into operation during the year, rub.
2) the coefficient of retirement of fixed assets:
where Ф is the cost of fixed assets liquidated during the year, rub.;
Fn - the cost of fixed assets at the beginning of the year, rub.
The excess of the value of the renewal coefficient over the value of the retirement coefficient indicates that the company is in the process of updating fixed assets.
One of the important tasks of the production and economic activities of the enterprise is to maintain the equipment used in good technical condition. This problem is solved, on the one hand, by strict observance of the rules for the operation of equipment, on the other hand, by organizing the repair service of equipment, including maintenance and repair.
Equipment maintenance is a set of works to maintain the operability of equipment during storage, transportation, preparation for use and operation.
Repair- a set of technical, economic and organizational measures related to the maintenance and partial (or complete) restoration consumer value fixed assets or objects of labor.
Enterprises carry out two types of repair of fixed assets: planned, carried out according to a predetermined schedule, and unscheduled, carried out in the event of a stop-breakdown of equipment or an emergency condition of the passive part of fixed assets.
System of scheduled preventive repairs (PPR) - This is a set of organizational and technical measures for the care, supervision of equipment, maintenance and repair to keep it in good working condition, ensure maximum productivity and increase service life.
Scheduled repairs according to the volume of work performed and sources of financing, it can be divided into three categories: current, medium, capital. Current is called the minimum amount of work repair, in which the replacement or restoration of wear parts and the regulation of mechanisms ensures the normal operation of the equipment until the next scheduled repair. Medium repair- repairs performed to restore serviceability and partial restoration of equipment resources with replacement or restoration constituent parts limited range and control technical condition constituent parts. Capital repair - a type of scheduled repair carried out in order to restore the resource of equipment with the replacement or restoration of any of its parts (including basic ones) and their adjustment.
The cost of repairs is included in the cost of production and sale of products. They depend on the degree of physical depreciation of fixed assets, the quality of repairs carried out and the skill level of personnel servicing machinery and equipment. Among the ways to reduce repair costs, one can note timely and high-quality scheduled preventive repairs, an economic justification for overhaul, restoration of worn parts directly at the enterprise.
Modernization is a technical improvement of the OPF in order to eliminate obsolescence and improve technical and economic indicators to the level of the latest equipment.
4.3. Indicators and ways to improve the use of fixed assets in the enterprise
An analysis of the effectiveness of the use of fixed assets in an enterprise is carried out in order to identify the most important factors affecting the level of use of labor tools, as well as to determine the reserves for their use. The information base of the analysis is made up of accounting and statistical reporting data, primary materials, materials of individual special studies.
The main indicators of the efficiency of the use of fixed assets can be combined into four groups.
1. General indicators of the use of fixed assets.
return on assets(Fo) - an indicator of output per one ruble of the cost of fixed assets; is defined as the ratio of the actual volume of output to the average annual cost of fixed production assets:
where Vf is the cost of marketable or standard-net products produced in a year, rub.;
The greater the value of return on assets, the more efficiently the fixed assets of the enterprise are used. The following factors influence the level of return on assets: the share of the active part of the funds, the level of specialization and cooperation, the level of prices for products, as well as the use of equipment in terms of time and power.
capital intensity(Fe) - the value inverse to the return on assets; shows the share of the cost of OPF attributable to each ruble of output.
Profitability of fixed production assets(Jopf) characterizes the amount of profit per one ruble of funds:
where P - profit, rub.;
F is the average annual cost of fixed production assets, rub.
The level of provision of employees with fixed assets is determined by the indicator capital-labor ratio. Capital-labor ratio is the ratio of the cost of fixed production assets to the number of employees:
However, the capital-labor ratio is not an indicator of the efficiency of the use of fixed assets in full, since the calculation of any efficiency indicator involves comparing the result (effect) with the costs that caused it.
2. Indicators of extensive use of fixed assets reflect the level of their use over time.
Extensive equipment utilization rate(Kext) is defined as the ratio of the actual number of hours of operation of the equipment (Tf) to the number of hours of operation according to the norm (Tn):
Shift ratio equipment operation (Kcm) is the ratio total worked out by the equipment of machine-shifts (Dstsm) to the number of machines that worked in the largest shift (n):
Equipment load factor(Kzagr) - the ratio of the actual shift ratio of work to the planned shift of equipment:
3. Indicators of intensive use of fixed assets reflect the level of their use in terms of power.
Heavy use factor equipment (Kint) - the ratio of the actual performance of the equipment (Pf) to the standard or production capacity (Pn):
4. Indicators of integral use, taking into account the combined influence of extensive and intensive factors.
Integral utilization factor equipment (Kintegrr) comprehensively characterizes its operation in terms of time and power and is the product of the coefficients of extensive and intensive use of equipment:
K integr \u003d Kext K int
Ways to improve the use of fixed assets in the enterprise:
#8594; increase in shift work, reduction of intra-shift and whole-day downtime of equipment, as well as the number of idle equipment;
#8594; improving the organization of auxiliary and servicing production of the enterprise, ensuring the centralization of repair services (where appropriate);
#8594; timely and high-quality carrying out of scheduled preventive and major repairs, improving the skill level of maintenance personnel;
#8594; timely renewal of the BPF, especially the active part, in order to prevent excessive physical and obsolescence;
#8594; improving the quality of preparation of raw materials and materials for the production process;
#8594; improvement technological processes, increasing the level of mechanization and automation of production, ensuring the fund-saving development of the enterprise;
#8594; improvement of the organization of production, labor, logistics and tactical planning.
conclusions
1. Fixed assets - means of labor that repeatedly participate in the production process and transfer their value to products in parts as they wear out. They are classified according to their natural composition, functional purpose and degree of participation in the production process. The valuation of fixed assets involves the determination of the initial, replacement, residual and liquidation value.
2. Fixed assets are subject to physical and moral wear and tear over time. One of the most important tasks of the enterprise is to prevent excessive wear of the material and technical base.
3. The cost of fixed assets is transferred to manufactured products in the form of depreciation charges. The depreciation policy of the enterprise directly affects the reproduction of fixed assets.
4. The efficiency of the use of the fixed capital of an enterprise can be determined by calculating the indicators of the use of fixed assets.
5. Analysis of the efficiency of the use of fixed assets at the enterprise allows you to outline ways to improve their use, the implementation of which leads to a reduction in the cost of materialized labor per unit of output and an increase in production efficiency.
