Purpose commercial organization is making a profit, that is, obtaining a positive financial result from the enterprise. In this case, the calculation must be made not only for internal accounting and analysis, but also to comply with legal requirements, since it is mandatory and is part of the reporting.

Analysis of financial results

Index financial results indicates the efficiency of the enterprise, profitability; on the basis of these data, the owners and management of the enterprise determine prospects and development trends.

Moreover, depending on the objectives, the financial result can be determined both for the enterprise as a whole and for certain species activity or by type of product produced, or by structural divisions. Internal accounting of the enterprise’s activities is not regulated, and the owners independently decide how to accumulate data on income and expenses, what to take into account when determining the financial result and for what period.

In this case, the analysis of activities can be carried out on the basis of statistical data on the industry, comparison with similar companies. But first of all, a comparison is made of data on income and expenses for the same previous period. At the same time, income and expense data are assessed, the causes of growth and decline are analyzed, and the efficiency of personnel and equipment use can be assessed. Taking into account external and internal factors, for example, the market situation, the need for long-term investments, a forecast is made further development, the company’s activities can be adjusted up to the cessation of unprofitable activities.

Income statement

The legislation obliges the organization to keep records of financial results and reflect the data in the Financial Results Report, approved. By order of the Ministry of Finance of the Russian Federation dated July 2, 2010 N 66n.

According to paragraph 1 of Art. 14 of the Law of December 6, 2011 N 402-FZ “On Accounting” The financial results report is included in the annual financial statements.

The Report includes indicators:

• revenue,
• cost,
• gross profit, which is defined as the difference between revenue and cost,
• commercial expenses,
• management expenses,
• profit or loss from sales,
• income from participation in other organizations,
• interest receivable
• interest payable
• other income and expenses.

Based on the results of these indicators, profit before tax is derived and, taking into account income tax and tax obligations, the net profit of the enterprise is determined.

The first and most indicative data are revenue and cost, that is, income and expenses for ordinary activities, which are formed according to the rules of PBU 9/99 and 10/99. For example, if an organization is engaged in leasing property, then the amount of rent received will be indicated, but if the organization is engaged in trade, but has entered into a one-time short-term lease agreement, then rent will not be taken into account as part of this indicator, but will be taken into account as part of other income

And expenses that are incurred for normal activities are also taken into account. For example, these are the costs that are necessary to maintain rental property, which takes into account wage personnel, and expenses for current repairs of property, and other costs.

The report on financial results is submitted to the tax authority and the statistics authority. But in addition, this form is often requested by banks when issuing a loan, by counterparties when concluding contracts, and they may also request an explanation of individual indicators. Based on this data, a primary analysis of solvency is carried out; not only the loan rate or the condition of deferred payment may depend on this, but also the possibility of concluding an agreement with a counterparty in which the organization is interested.

Financial analysis: What is it?

The financial analysis- this is the study of basic indicators financial condition and financial results of the organization’s activities for the purpose of making management, investment and other decisions by stakeholders. Financial analysis is part of broader terms: financial analysis economic activity enterprises and economic analysis.

On practice the financial analysis carried out using MS Excel tables or special programs. During the analysis of financial and economic activities, both quantitative calculations of various indicators, ratios, coefficients, and their qualitative assessment and description, comparison with similar indicators of other enterprises. Financial analysis includes analysis of the organization's assets and liabilities, its solvency, liquidity, financial results and financial stability, analysis of asset turnover (business activity). Financial analysis allows us to identify such important aspects as the possible probability of bankruptcy. Financial analysis is an integral part of the activities of such specialists as auditors and appraisers. Financial analysis is actively used by banks that decide whether to issue loans to organizations, and by accountants in the preparation of explanatory notes to annual reports and other specialists.

Fundamentals of Financial Analysis

Financial analysis is based on the calculation of special indicators, often in the form of coefficients characterizing one or another aspect of the financial and economic activities of an organization. Among the most popular financial ratios the following can be distinguished:

1) Autonomy coefficient (ratio of equity capital to total capital (assets) of the enterprise), financial dependence coefficient (ratio of liabilities to assets).

2) Current ratio (ratio of current assets to short-term liabilities).

3) Quick liquidity ratio (ratio liquid assets including cash, short-term financial investments, short-term receivables, and short-term liabilities).

4) Return on equity (the ratio of net profit to the enterprise’s equity)

5) Return on sales (the ratio of profit from sales (gross profit) to the company’s revenue), based on net profit (the ratio of net profit to revenue).

Financial analysis techniques

The following methods of financial analysis are usually used: vertical analysis (for example), horizontal analysis, predictive analysis based on trends, factor and other methods of analysis.

Among the legally (regulatory) approved approaches to financial analysis and methods, the following documents can be cited:

• Order of the Federal Administration for Insolvency (Bankruptcy) dated August 12, 1994 N 31-r
• Decree of the Government of the Russian Federation of June 25, 2003 N 367 “On approval of the Rules for conducting financial analysis by an arbitration manager”
• Regulations of the Central Bank of Russia dated June 19, 2009 N 337-P "On the procedure and criteria for assessing the financial position of legal entities - founders (participants) of a credit organization"
• Order of the FSFO of the Russian Federation dated January 23, 2001 N 16 “On approval of “Methodological guidelines for analyzing the financial condition of organizations”
• Order of the Ministry of Economy of the Russian Federation dated October 1, 1997 N 118 “On approval Methodological recommendations on the reform of enterprises (organizations)"

It is important to note that financial analysis is not just the calculation of various indicators and ratios, comparison of their values ​​in statics and dynamics. The result of a qualitative analysis should be a substantiated conclusion, supported by calculations, about financial situation organization, which will become the basis for decision-making by management, investors and other stakeholders (see example). It is this principle that formed the basis for the development of the “Your Financial Analyst” program, which not only prepares a full report based on the results of the analysis, but also does it without user participation, without requiring him to have knowledge of financial analysis - this greatly simplifies the life of accountants, auditors, and economists .

Sources of information for financial analysis

Very often, interested parties do not have access to the organization’s internal data, so public data is the main source of information for financial analysis. financial statements organizations. The main reporting forms - Balance Sheet and Profit and Loss Statement - make it possible to calculate all the main financial indicators and coefficients. For deeper analysis, you can use traffic reports Money and capital of the organization, which are compiled based on the results of the financial year. An even more detailed analysis of individual aspects of the enterprise’s activities, for example, calculating the break-even point, requires initial data that lies outside the reporting framework (data from current accounting and production accounting).

For example, you can get financial analysis based on your Balance Sheet and Profit and Loss Statement for free online on our website (both for one period and for several quarters or years).

Altman Z-model (Altman Z-score)

Altman Z-model(Altman Z-score, Altman Z-Score) is a financial model (formula) developed by the American economist Edward Altman, designed to predict the probability of bankruptcy of an enterprise.

Enterprise Analysis

Under the expression " enterprise analysis"usually mean financial (financial-economic) analysis, or a broader concept, analysis of the economic activities of an enterprise (AHA). Financial analysis, analysis of economic activities relate to microeconomic analysis, i.e. analysis of enterprises as individual entities economic activity(as opposed to macroeconomic analysis, which involves the study of the economy as a whole).

Business Activity Analysis (ABA)

By using business activity analysis organization, general trends in the development of the enterprise are studied, the reasons for changes in performance results are investigated, plans for the development of the enterprise are developed and approved and adopted management decisions, monitoring the implementation of approved plans and decisions made, reserves are identified in order to increase production efficiency, the results of the company’s activities are assessed, and an economic strategy for its development is developed.

Bankruptcy (Bankruptcy Analysis)

Bankruptcy, or insolvency- this is the inability of the debtor, recognized by the arbitration court, to fully satisfy the claims of creditors for monetary obligations and (or) to fulfill the obligation to make mandatory payments. The definition, basic concepts and procedures related to the bankruptcy of enterprises (legal entities) are contained in Federal law dated October 26, 2002 N 127-FZ “On Insolvency (Bankruptcy)”.

Vertical reporting analysis

Vertical reporting analysis- technique of analysis of financial statements, in which the relationship of the selected indicator with other similar indicators within the same reporting period is studied.

Horizontal reporting analysis

Horizontal analysis reporting is a comparative analysis of financial data over a number of periods. This method is also known as trend analysis.

The financial activity of an organization is understood as attracting and returning borrowed sources of financing (credits, loans), issuing ordinary and preferred shares, paying dividends, fines, penalties, and other non-operating operations (Fig. 7.5).
"Inflows" "Outflows"


Cash flows associated with changes in the authorized capital, long-term and short-term loans are determined according to the balance sheet. The following formula is used:
АPassive = Passive (i) - Passive (g - 1). G"6)
The amount of other non-operating income (expenses) of the period is directly transferred from the income statement to the cash flow statement. Cash outflows associated with the payment of interest on borrowed loans are reflected as part of other operating expenses, the accounting for which was discussed when describing investment activities.
The sum of cash inflows and outflows from core, investing and financing activities forms net cash flow. The amount of net cash flow can be considered as the potential cash inflow that the company should have based on the results of its activities.
The actual change (actual inflow) of cash is determined from the balance sheet and is called actual cash flow. Actual cash flow is determined as the difference in balance sheet cash at the current and previous reporting date. Its value shows how much the amount of funds at the disposal of the company increased or decreased in a given period of analysis.
The difference between actual and net cash flows represents other flows that are not traceable to the balance sheet and income statement. Negative values ​​of other FLOW indicate that the enterprise incurred costs such as maintaining social facilities!. spheres, payment of dividends and various types of benefits. Positive values ​​in the line “Other flows” can be associated, for example, with gratuitous transfers of property to the enterprise.
Information from the cash flow statement will help answer the questions:
Is there enough income from core activities to finance working capital?
whether the enterprise’s funds are sufficient to finance the selected investment program;
whether there is a need (and to what extent) to attract borrowed sources of financing.

More on topic 7.2.3. Financial activities:

1. 2. Algorithms for modeling the financial activities of a company
2. 2.1. Content and essence of the financial activities of a commercial enterprise
3. Section ANALYSIS OF THE FINANCIAL ACTIVITY OF THE ENTERPRISE
4. Chapter 4. CONCEPT AND LEGAL FORMS OF FINANCIAL ACTIVITY OF THE STATE AND MUNICIPAL FORMS
5. § 1. The concept and role of financial activity of the state and municipalities
6. § 2. Organizational and legal features and methods of financial activity of the state and municipalities

Financial activities are carried out by any enterprise, regardless of its form of ownership. It consists in organizing those that appear in the process of interaction with other physical or legal entities. Such relationships - component cash that arises during the movement of funds.

Financial activity is a complex system of actions, the purpose of which is the successful formation of initial capital with the subsequent proportional provision of such actions: the formation and use of income and other financial resources, the fulfillment of obligations.

This system uses various methods and forms to ensure the successful functioning of enterprises and the implementation of their goals. In other words, it represents the practical financial activities of an enterprise, ensuring its livelihoods and increasing productivity.

One of the main goals of financial activity is the economic impact exercised in relation to partners and guaranteeing the fulfillment of their contractual obligations. Another goal is to ensure a constant circulation of funds necessary for the successful management of the enterprise, making the necessary payments and expenses, as well as making a profit (in monetary terms).

Financial activity implies timely identification of the main causes of disruption of such a cycle, which allows timely management decisions to be made to eliminate them. Making informed decisions is possible subject to the accuracy and completeness of accounting. Effective financial activity of an enterprise is the basis for ensuring that cash income exceeds expenses. It is this that allows for the necessary investments, the formation of reserves and funds intended to compensate for losses or damage.

The receipt of revenue from the provision of services and the sale of goods ensures an uninterrupted business process and a constant circulation. Until the moment of its receipt, all production costs are financed from previously formed current assets. The result of the circulation of invested funds is the reimbursement of costs incurred and the creation of their own in the form of profit and depreciation.

Management of financial and interconnected organizations is carried out using financial management. Movement entails a decrease or increase in cash flow. Regulation of financial flow ensures the receipt of funds necessary for the enterprise. When choosing an acceptable financial solution option, the following points are determined: the real possibility of implementing this option; changes in indicators by which the financial condition is assessed for the coming periods or for the long term; associated income and costs; conditions for implementing the decision; other consequences of this option.

Financial management solves a wide range of issues, including the entire range of receipt and expenditure of funds. It has its own structure, which includes financial analysis (based on accounting) and probabilistic estimates of future indicators ( economic planning). Financial management is the active management of the financial condition of any enterprise with the help of all the factors that affect it.

At an enterprise, its manager is responsible for financial work. According to his instructions, manages finances financial director, and in case of its absence - Chief Accountant. Usually, financial department organized within the accounting department, but sometimes it represents a separate structural unit.

1. Finance: concept and role.

Any state is intended to carry out certain functions. To implement them, it uses a mechanism such as finance, which appears in connection with commodity-money relations and the emergence of the state itself. Currently, the concept of finance is considered in 2 aspects: material and economic. In the material aspect finance represents the monetary funds of the state, its territorial divisions, municipalities and legal entities. In economic aspect Finance is an economic category. They represent certain relationships - monetary, associated with the formation, distribution and use of monetary funds and resources of the state, municipalities and other public and private entities. To meet the economic and social needs of the population and other entities.

The role of finance in the socio-economic life of any state is expressed in the functions they perform. The most common are distribution and control. There are also regulating and stabilizing functions. The essence of the distribution function is that through finance, the distribution and redistribution of the total social product and national income in monetary form occurs in order to satisfy various social and state needs. Control function. With the help of finance, control is exercised over the production and distribution of material and social goods in the country. It will be implemented with the help of state and municipal authorities (tax, customs, etc.) which will be assigned control powers in certain areas. The regulatory function - its essence is the influence on government processes through finance.

2. Financial activity of the state and municipalities: concept, methods, principles.

The financial activity of the state is the public activity of subjects of financial law based on legal norms to create an optimal mechanism of financial and legal regulation for the purpose of the systematic formation, distribution and use of centralized and decentralized monetary funds general meaning. It is carried out by attracting funds to special-purpose funds by distributing them between parts of the financial system.

The financial activity of municipalities is the implementation by the relevant municipality, represented by the competent authorities, of functions for the systematic accumulation, distribution and use of centralized and decentralized funds of funds in order to carry out public tasks and functions of the local community, as well as delegated powers of the state. It is aimed to solve problems of local importance, which are determined by the legislation on local self-government. The financial activities of municipalities are carried out through local self-government bodies.

Methods of financial activity:

1) education - funds are generated through mandatory payments, as well as through voluntary payments;

2) distribution - when distributing public funds, two main methods are used: financing (non-refundable and free provision of these funds) and lending (allocation of funds on the basis of remuneration and repayment);

3) use of funds - the receipt of funds in the process of financial activities at the disposal of the state, legal entities and individuals, their use is carried out through settlement transactions.

Principles: 1. The principle of federalism (financial activities should be aimed at combining general federal interests with the interests of the constituent entities of the Russian Federation). 2. Unity of financial policy and monetary system (the independence of the subjects of the federation should not go beyond the framework of the fundamentals of federal financial policy). 3.Equality of the subjects of the federation in the field of financial activities. 4. Independence of financial activities of local self-government bodies. 5. Social orientation of financial activities. 6. The distribution of functions in the field of financial activities occurs on the basis of the separation of legislative and executive powers. 7. Participation of citizens of the Russian Federation in the financial activities of the state and local self-government bodies. 8. The principle of publicity (official publication of laws). 9. The principle of planning (state activities in education, distribution and use of financial resources are carried out on the basis of financial plans).

3. Forms of financial activity of the state and municipalities.

Financial activity of the state can occur in 2 forms: legal and non-legal.

Not legal form manifests itself in the form of holding meetings, meetings of committees of representative bodies on financial issues, in the form of explaining financial legislation to the population.

The legal form is expressed in the adoption of legal acts. Financial legal acts are adopted on issues of financial activity. They are classified on several grounds.

According to their legal properties, they are divided into normative, individual, and mixed. TO regulations include the Tax Code of the Russian Federation, the Budget Code of the Russian Federation, the Federal Law “On Banks and Banking Activities”, the Federal Law “On the Central Bank of the Russian Federation”, etc. individual acts include - tax notices on payment of taxes, tax audit report, audit report. Mixed acts - laws and acts on the budget for a specific year.

By legal nature, 1.legislative and acts of representative bodies of local self-government and 2.subordinate.

Among the financial and legal acts, the financial planning act is distinguished. Their features: 1. They are adopted as a result of activities based on planned programs and plans for the economic development of the country and region. 2. They contain specific tasks, economic indicators and they have a certain validity period (one year or 3 years) - these are the federal, local budgets, budget estimates, estimates of income and expenses, etc.

4. Financial system of the Russian Federation: concept, structure, development at the present stage.

The financial system of the Russian Federation currently includes several interrelated institutions and bodies. The financial system of the Russian Federation is understood as: 1) a set of financial institutions, each of which contributes to the formation and use of appropriate monetary funds. 2) a set of government agencies and institutions carrying out financial activities within their competence.

The financial system of the Russian Federation includes: 1. the state budget system, consisting of the federal budget, budgets of the constituent entities of the Russian Federation and local self-government budgets. 2. off-budget special funds. 3. state and bank credit. 4. insurance funds. 5.finance of business entities and industries. The system of financial bodies is headed by the Ministry of Finance of the Russian Federation, which is an executive body that ensures the implementation of a unified state policy and exercises general management of the organization of finance in the country. The functions of financial activity are also performed by government bodies of the Russian Federation and constituent entities of the Federation within the framework of the industries or areas of management within their competence. The unified system of state financial management bodies of the Russian Federation includes: the Ministry of Finance of the Russian Federation, the ministries of finance of the republics, financial departments and other financial management bodies in the territories, regions, autonomous regions, autonomous districts, Moscow and St. Petersburg, as well as the bodies of the Federal Treasury .

5. Ministry of Finance of the Russian Federation: legal status, structure, functions.

The Ministry of Finance of the Russian Federation heads the system of financial authorities and is an executive body. The Ministry of Finance of the Russian Federation acts on the basis of the Regulations on it, approved by Post. Right RF dated June 30, 2004. The Ministry of Finance of the Russian Federation exercises general management of the organization of finance in the country. The Ministry of Finance of the Russian Federation is headed by a Minister, appointed and dismissed by the President of the Russian Federation on the proposal of the Chairman of the Government of the Russian Federation. Along with the budget department, the following departments are organized within the Ministry of Finance: tax reforms, government securities and the financial market, financing of agricultural development programs, financial programs for the development of production infrastructure and the consumer market, financing of programs for the development of the sphere of material production and conversion, financing of social spheres and sciences, financing of defense, law and order and security, monetary and financial regulation, accounting and reporting methodology.

In accordance with the tasks assigned to the Ministry of Finance of the Russian Federation “Regulations on the Ministry of Finance of the Russian Federation”, the Ministry of Finance of the Russian Federation: 1. participates in the development of a comprehensive analysis of economic development, develops the necessary measures for financial and tax incentives for entrepreneurial and other economic activities in the country. 2.participates in the work of drawing up long-term and short-term forecasts for the functioning of the economy. 3.organizes in accordance with the legislation of the Russian Federation and draws up a consolidated budget of the Russian Federation based on the consolidated budgets of the constituent entities of the Russian Federation. 4. provides methodological guidance in the field of financial and budget planning, budget preparation and execution, financing of production and social and cultural spheres. 5.Together with the Ministry of Economy of the Russian Federation and other federal executive bodies, analyzes the progress of economic reform, etc.

6. Bodies carrying out financial activities: system, general characteristics.

Types of bodies carrying out financial activities:

1) bodies of general competence that carry out general regulation and control over financial activities: a) the President of the Russian Federation - signs and promulgates the Federal Law on the federal budget; b) legislative (representative) bodies of the Russian Federation, constituent entities of the Russian Federation and municipalities (for example, the Federal Assembly of the Russian Federation) - consider and adopt (or reject) budgets at the appropriate levels; c) executive bodies of the Russian Federation, its constituent entities and municipalities (for example, the Government of the Russian Federation) - submit the draft budget to legislative (representative) bodies, carry out general management of its implementation;

2) bodies of special competence created specifically for the implementation of financial activities: a) Ministry of Finance of the Russian Federation. The main task is to develop a unified state financial, credit and monetary policy; b) Federal Treasury of the Russian Federation. Tasks: - organization, implementation and control over the execution of the budget of the Russian Federation, management of funds in Treasury accounts; - regulation of financial relations between the budget of the Russian Federation and state extra-budgetary funds, financial execution of these funds, control over their funds; - collection, processing and analysis of information on the state of state finances; - management and servicing, together with the Central Bank of the Russian Federation, of the state internal and external debt of the Russian Federation; c) Ministry of the Russian Federation for Taxes and Duties. The main tasks in the field of financial activities: - control over the correctness of calculation, completeness and timeliness of payment of taxes, fees and other obligatory payments to the relevant budget and state extra-budgetary funds; - participation in the development and implementation of tax policy in order to ensure timely receipt of taxes, fees and other obligatory payments in full to the relevant budget and state extra-budgetary funds; - implementation of currency control within the competence of tax authorities; d) Bank of Russia. Main goals: - develops and implements a unified state monetary policy in cooperation with the Government of the Russian Federation; - monopolistically issues cash and organizes cash circulation; - establishes the rules for making payments in the Russian Federation; - establishes the rules for conducting banking operations; - carries out servicing of budget accounts at all levels of the budget system of the Russian Federation through settlements on behalf of authorized executive authorities and state extra-budgetary funds.

7.Fin.Law: concept, subject, methods, differences from other branches of law.

Financial right is an industry Russian law, the norms of which regulate social relations arising in the process of activities for the systematic formation, distribution and use of centralized and decentralized monetary funds (financial resources) of the state and municipalities, as well as other monetary funds of a public nature necessary for the implementation of the relevant tasks of the state and solving local issues meanings. P subject of financial law - these are financial relations, i.e. social relations arising in the process of activities for the systematic formation, distribution and use of monetary funds of the state and municipalities. formations (financial resources), as well as other monetary funds of a public nature in order to implement the tasks of the state and resolve issues of local importance. The method of financial law is a way of influencing public relations. IN current system rights reserved two possible ways influence in order to comply with the rules of law: the administrative-legal method (based on the unequal position of the parties - from the relationship of power and subordination) and the civil-legal method (based on the equality of the parties, on economic instruments of regulation). The content of this or that method of influencing social relations, its specificity, stems from the characteristics of legal influence, i.e. from those material goods in relation to which social relations arise and develop.

Thus, state (constitutional) law is the leading branch in the legal system. It consolidates the foundations of the social system and politics of the Russian Federation, the legal status of individuals, the federal state structure, the principles of organization and activities of state authorities and local self-government bodies. Financial law is based and developed on these foundations.

Administrative law regulates public relations in the field of public administration carried out by executive authorities. Financial law applies to both of these types of government activities, since financial activities can be carried out by both bodies

Financial law is in close connection with civil law, since its subject matter includes monetary relations among property relations.