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Business Economics - Pokropivny SF

5.5. The structure, the use of rationing of circulating assets of the enterprise

The composition and structure of current assets. Current venture funds have a material and real and value terms. In the practice of planning and accounting of economic activity in the current assets include inventories; work in progress and semi-finished products of own production; prepaid expenses.

Industrial stocks make up the largest part of the working capital. They belong to the reserves of raw materials, basic and auxiliary materials, purchased semi-finished products, fuel and fuel containers, repair of parts and components, low-value instruments, household equipment and other items, as well as wearing similar items.

Work in progress - it is the objects of labor, processing (processing) which has not been completed now. They are found in the workplace or during transportation from one workplace to another. For semi-finished products of own production are those of work items that are fully processed (recycled) in the production unit of the enterprise, but require further processing in other units (such as forgings, extrusions, castings and other products procuring production).

Deferred expenses - it's cash costs, which are made in a given period, but will be offset by the cost of production (works, services) in subsequent periods. These include the costs of pre-production, production of new products, rationalization, invention, the acquisition of scientific, technical and economic information, subscription to periodicals, etc.

The ratio of current assets in the context of the individual elements and operation stages (stocks, work in progress, prepaid expenses) characterizes their production and technological (staging) structure. It is influenced by several factors (type of production, especially the production and technology of its manufacture, conditions ensuring the material resources of the enterprise, etc..) And changes in time slowly, without sharp fluctuations. For example, in industrial plants of Ukraine in total current assets of the inventory is on average in recent years, about 70%, work in progress - 25%. There is a definite trend in the structure of current assets: the relative sizes of industrial stocks in general are reduced, and a work in progress and prepaid expenses, on the contrary, increase.

Structure of current assets at the enterprises of various branches have significant differences due to specific technologies and forms of production organization, material resources to ensure the conditions, prices for them, etc. Thus, the greatest portion of the total current assets are as follows:.. In power plants and enterprises of light industry - production stocks (90%); at the enterprises of mechanical engineering - work in progress (approximately 40%, due to the long duration of the production cycle); at the enterprises of the mining industry - prepaid expenses (40-50% or more).

Rationing costs. The definition of the enterprise demand for raw materials and other kinds of material resources is carried out according to certain rules of their consumption. These standards are developed by the companies or on the order of industrial research organizations.

The applied system of material resource consumption rates covers a large range of the latter. Types of these standards are classified according to the following classification criteria: a) purpose - raw materials consumption rates, materials, energy, fuel, etc .; b) the scale of the action - group (on the same types of products), and individual; c) The validity period - annual (for the current planning) and long-term; d) the degree of detail of objects of rationing - exploded and poizdelnye; d) the level of detail of regulated resources - specified (by type of resource with specific parameters) and summary (by types of resources over a narrow range).

Rationing of consumption of certain types of material resources provides for compliance with certain scientific principles. The most important of these are: progressive, technological and economic feasibility, dynamic and enabling lowering standards.

The rate of consumption of a particular type of material resources - is the maximum allowable value of consumption for the production of products in a particular production, applying the most advanced technology and raw materials (materials) of the highest quality. It has its own structure, ie. E. The ratio of individual elements, which together constitute the total value of consumption of certain types of material resources per unit of output. For most materials, the application rates structure includes: a useful (net) consumption; technological waste and losses; other organizational-technical losses (during transportation, storage and others.).

In economic practice uses three basic methods of valuation of material resources consumption: calculated analytically, experimental laboratory and the reporting and statistics. The most progressive, no doubt, is analytical and computational method, based on a thorough analysis and feasibility study of all elements of standards using the latest advances in technology and manufacturing technology. Using the experimental laboratory method, the application rates are determined by a series of experiments and research: it is used primarily for valuation consumption of auxiliary materials and tools. The essence of the report and the statistical method of valuation is to establish the norms of expenditure on the basis of the accounting data of the actual expenditure of funds from previous years. Its practical use is permitted only as an exception - to approximate calculations, as well as in the process of normalization of the flow of low-value and seldom-used materials.

Efficiency. Efficient and economical use of individual elements of working capital of enterprises is of great economic importance. This is due to the steady increase in the absolute consumption of raw materials, materials, energy for production in different sectors of the economy, the predominance of material costs in its total costs. Saving material resources, characterized by a decrease in the absolute and specific consumption of certain types of resources, it allows one and the same amount of raw materials to produce more products without extra cost of social labor, improve the efficiency of production as a whole in each enterprise.

To measure the effectiveness of the use of revolving funds, a corresponding system of technical and economic indicators.

At the enterprises of industries processing primary raw materials used indicator (factor) of the output or production of finished products from the feedstock. For example, non-ferrous metals such indicator is the ratio of copper extraction from the ore, and to a sugar factory - the output of sugar from sugar beets. At the enterprises of certain sectors of the economy indicator of efficiency of use of natural resources is the consumption of raw materials per unit of finished product. So, in the mills (mills) Steel used indicator of consumption of raw materials (iron ore, coal coke, fluxes) per ton of pig iron, and enterprises for the production of mineral fertilizers - consumption of sulfuric acid per ton of superphosphate, etc.

At the enterprises of manufacturing industry used for this purpose the use of materials ratio, ie the ratio of net weight (mass) of the product to normal or actual cost construction material. For certain types of materials is calculated metrics such as utilization area of the material (sheet metal, fabric, leather), the utilization of the volume of material (wood).

More efficient use of working capital involves primarily the decision of specific targets for saving raw materials, materials, fuel and electricity. To distinguish the sources and ways of saving material resources. Sources suggest saving the expense of what is possible to achieve savings of resources and ways to save - how, by what measures can save those or other kinds of material resources. Of all the possible measures aimed at saving material resources should be allocated to production and technical, organizational and economic (Fig. 5.6).

Fig. 5.6. Sources and ways of saving material production plants resursovna

The largest reserves of improving the efficient use of the important types of material resources related to the complex processing of raw materials and the extensive use of recycled resources.

Integrated processing of raw materials - a process of industrial processing, the result of which is the extraction of the raw material all the useful components and their full use, including technological waste. The economic feasibility of the complex processing of raw materials due to the high value, so-called by-products contained in the feedstock. For example, in the extraction of natural gas byproducts are condensates, helium, sulfur; oil - a combustible gas, sulfur, iodine, bromine; copper, copper pyrite and copper-zinc ores - zinc (up to 7%), iron (30%), sulfur (up to 45%), as well as lead, cobalt, molybdenum, gold, silver and other metals in an amount to provide their cost-effective production.

A significant part of co-products in the total volume of manufactured products shows the feasibility of complex processing of raw material to the industries of relevant sectors of the economy. For example, more than 30% of the production of various kinds of chemical products focused on non-ferrous and ferrous metallurgy, 10% of the pulp and paper industry.

In spite of a sufficient level of efficiency of this method achieved level of complexity of its use on the majority of enterprises in Ukraine does not meet modern requirements. The utilization of many types of complex raw materials in recent years does not exceed 50-60%.

Secondary material resources - are the remnants of raw materials (materials), waste production and consumption, which can be re-used for the manufacture of products. On the basis of education, they are divided into two main groups - the production of waste and waste consumption.

To waste production include: residues of raw materials, to a large extent lost its original use value (trim materials, metal shavings, spent catalysts, technical oil, melyassnaya bard, cake, fire and TP), by-products of processing and passing of the original raw materials that are technologically inevitable (different types of ash, lignin, associated gas, waste, etc.). consumption wastes are manufacturing (various fully depreciated items of capital goods - scrap tires, containers, etc..) and domestic (household consumption worthless things, worn out shoes and clothing, waste paper, etc.).

In terms of volume and value of the most important for industrial production have a variety of "secondary" metals in the form of obsolete scrap and the so-called working metal (metal shavings, waste foundry). Their share in the total balance of the raw material and steel production is more than 45%. However, the scale of the use of secondary material resources in enterprises of relevant industries of Ukraine can not be regarded as satisfactory. This is especially true of domestic waste. For example, the percentage of waste paper in the total volume of raw materials for making paper and cardboard is now a little over 20%, which is almost 2-2.5 times lower than the technologically and economically feasible level.

Questions for self-depth study

• Definition and types of enterprise capital.
• The essence and a general description of the production assets of the enterprise. Controversial aspects of the problem.
• Method for determining the book value of fixed assets at the beginning of the design year.
• Species classification and structure of fixed assets of enterprises and organizations.
• Depreciation and feasibility aging of fixed assets.
• Modern methods of depreciation of fixed assets.
• Theoretical and methodological bases and practice of optimizing the service life of production equipment (vehicles).
• Economic and social support of the forms of simple and expanded reproduction of fixed assets of enterprises (organizations).
• The conventional system of indicators to assess the effectiveness of the processes of reproduction and use of fixed assets and problems of its improvement in market conditions of managing.
• Problems of upgrade, and use of separate groups of fixed assets at the enterprises of various branches of national economy of Ukraine.
• Controversial aspects of determining the composition of circulating assets of the enterprises of industrial sphere.
• Problems of efficient use of working capital of the enterprise, and possible ways to resolve them.