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The standard for working capital in production inventories is 2,200 thousand rubles,

standard for deferred expenses - 500 thousand rubles,

product production plan 6000 pcs.,

production cycle duration - 30 days;

production cost of one product is 36 thousand rubles;

cost increase factor - 0.85;

The stock norm of finished products in the warehouse is 26 days.

Define:

1. standard working capital in work in progress;

2. standard of working capital in finished products;

3. general standard of working capital of the enterprise.

Solution:

1. The standard for working capital in work in progress is determined by the formula:

B is the volume of production in physical terms;

C is the cost of one product;

T pc - duration of the production cycle;

Kn - production growth rate;

D - duration of the planning period.

2. Standards for working capital in finished products:

N gp = P × D nz,

P - one-day production at production cost,

D nz - the stock norm of finished products in days.

Let's find one-day output at production cost:

N gp = 600 * 26 = 15,600 thousand rubles.

3. The general working capital standard of an enterprise is the sum of:

Nose. = N pr.z + N np + N gp + N r.b.p.

N pr.z - production reserve standard,

N np - work in progress standard,

N gp - standard stock of finished products,

N r.b.p. - standard of expenses for future periods.

Nose. = 2200 + 15,300 + 15,600 + 500 = 33,600 thousand rubles.

To ensure the uninterrupted production and sale of products, as well as for the effective use of working capital at enterprises, their rationing is carried out. With its help, the overall need of the enterprise for working capital is determined.

Consumption standards are considered to be the maximum permissible absolute values ​​of consumption of raw materials, fuel and electrical energy for the production of a unit of product.

Rationing the consumption of certain types of material resources requires compliance with certain scientific principles. The main ones should be: progressiveness, technological and economic feasibility, dynamism and ensuring a reduction in standards.

When planning working capital requirements, three methods are used:

1. Analytical- involves determining the need for working capital in the amount of their average actual balances, taking into account the growth in production volume. This method is used in those enterprises where funds invested in material assets and costs have a greater share in the total amount of working capital.

2. Coefficient- consists in clarifying the current standards of own working capital in accordance with changes in production indicators. Inventories and costs are divided into those that depend directly on changes in production volumes (raw materials, materials, costs of work in progress, finished goods in warehouse) and those that do not depend on it (spare parts, deferred expenses, low-value items).

For the first group, the need for working capital is determined based on their size in the base year and the growth rate of production in the next year. For the second group, the demand is planned at the level of their average actual balances for a number of years.

3. Direct counting method- scientifically based calculation of standards for each element of standardized working capital, taking into account changes in the level of organizational and technical development of the enterprise, transportation of goods and materials, and the practice of settlements with counterparties.

Rationing begins with determining the average daily consumption of raw materials, basic materials and semi-finished products (P day) in the planning period:

where P is the volume of material consumption for the period, rub.;

T – time period.

Working capital norm (N a.obs) - a value corresponding to the minimum, economically justified volume of reserves. It is usually set in days.

OBS standard (N obs) - the minimum required amount of funds to ensure the continuity of the enterprise. Determined by the formula:

N obs =R day * N a.obs.

The OS stock norm (N a.os) for each type or homogeneous group of materials takes into account the time spent in the current (Z tech), insurance (Z str), transport (Z tran), technological (Z tech) stocks, as well as the time required for unloading, delivering, receiving and storing materials, i.e. preparatory stock (P r):

N a.os = Z tech + Z str + Z tran + Z tech + P r.

Current stock designed to provide production with material resources between two subsequent deliveries. This is the main type of stock, the most significant value in the OBS norm. The current stock in days is determined by the formula:

where C p is the cost of delivery;

I is the interval between deliveries.

The current stock standard is calculated using the formula:

Z tek = R day * I,

Safety stock arises as a result of a delay in delivery. In days is determined by the formula:

Safety stock standard:

Z page = R day * (I f - I pl) * 0.5 or Z page = R day * Z page day * 0.5,

where (I f - I pl ) – gap in the supply interval.

Transport stock is created at enterprises for those deliveries for which there is a gap between the timing of receipt of payment documents and materials. It is defined as the excess of cargo turnover time (time of delivery of goods from the supplier to the buyer) over the document flow time.

The transport stock standard is calculated using the formula:

Ztr = R day * (I f - I pl) * 0.5 or Z page = R day * Z workday * 0.5,

where Z tr.dn is the norm of transport stock, days.

Technological stock - time required to prepare materials for production. The technological stock standard is determined by the formula:

Z those = (Z tech + Z str + Z tr) * To those

where K tech is the technological reserve coefficient, %. It is established by a commission of representatives of the supplier and consumer.

Preparatory stock is established on the basis of technological calculations or by means of timing.

Working capital standard in production inventories is defined as the sum of OBS standards in current, technological and preparatory stocks.

OBS standard in work in progress (N np) is determined by the formula:

N np = VP avg. * T c * K nar.z,

where VP avg – average daily output at production cost;

T c - duration of the production cycle;

Knar.z is the coefficient of increase in costs, which, with a uniform increase in costs, is determined by the formula:

where F e - one-time costs;

F n - increasing costs;

C - cost.

With an uneven increase in costs

To Nar.z = C av / P

where C av is the average cost of a product in work in progress;

P is the production cost of the product.

Working capital standard for deferred expenses (N b.p.) is determined by the formula:

N b.p. = RBP beginning + RBP pre – RBP s,

where RBP beginning is the carryover amount of deferred expenses at the beginning of the planned year;

RBP pre - deferred expenses in the coming year, provided for in the estimates;

RBP c - deferred expenses to be written off against the cost of production for the coming year.

Working capital standard in finished product balances defined:

N g.p = VGP days. * N W.skl. ,

where is VGP day. - cost of one-day production of finished products;

N z.skl - the norm of their stock in the warehouse in days.

The total working capital standard is the sum of working capital standards calculated for individual elements. When establishing norms and standards for the planned year, it is recommended to use experimental-statistical and calculation-analytical methods.

Industrial inventories are material resources located at the enterprise, but not entered into the production process.

Rationing of working capital in production inventories begins with determining the average daily consumption of raw materials, basic materials and purchased semi-finished products in the planned year.

The average daily consumption of raw materials, basic materials, purchased products and semi-finished products is calculated in groups, and in each group the most important types are identified, which constitute approximately 80% of the total cost of material assets of this group. Unaccounted for raw materials, basic materials, purchased products and semi-finished products are classified as expenses for other needs. The average daily consumption of material resources P is the quotient of dividing the sum of all planned annual expenses of raw materials, basic materials, purchased products and semi-finished products by the number of working days in a year (360). The production inventory standard consists of current, insurance, technological, and transport stocks.

The current stock (TS) is intended to provide production with material assets between two reporting deliveries:

where J is the delivery interval, days.

This is a constant supply of materials fully prepared for launch into production.

This reserve is the maximum. The current stock reaches its maximum value at the time of the next delivery. As it is used, it decreases and by the time of the next delivery it is completely consumed.

In the process of calculating current inventories, the most labor-intensive thing is to establish the delivery interval, i.e. interval between two next deliveries. In case of untimely receipt of material, i.e. when the actual interval (J) exceeds the planned interval (J), a production stoppage situation may arise due to the lack of necessary material. To avoid stopping the production process, a safety stock is created.

Safety stock (SZ) is defined as half the product of the average daily material consumption (P) and the gap in the supply interval (J-JPL),

SZ=P*(J-J)*0.5

negotiable asset rationing

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

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

TrZ= P*(J-J)*0.5

The most labor-intensive process is determining the supply interval for insurance and transport stocks, which are influenced by both permanent and temporary factors. Therefore, when calculating working capital standards, it is necessary to take into account the specific production and economic conditions of each industrial enterprise.

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

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

Preparatory stock is associated with the need to receive, load, sort and store production stocks. The time standards required for these operations are established for each operation for the average delivery size based on technological calculations or through timing.

In this case, the preparatory stock is equal to the sum of the average time for receiving and unloading incoming material and the time for documentation and storage, divided by the number of working hours (8). Technological reserve is not specified.

Stock rate:

NZ= PZ+TZ+SZ+TRZ,

where NZ is the stock rate;

PZ - preparatory stock;

TK - current stock;

SZ - safety stock;

TRZ - transport stock.

Preparatory stock is calculated as the sum of the average time for receiving and unloading incoming material from the supplier and the average time for completing documentation, quality control and warehousing for one delivery, divided by 8 hours.

Calculation of stock norms

Calculation of one-day consumption of materials in cost terms:

n=total quantity of materials in natural units of measurement*standard price per unit of materials / number of working days per year.

The number of working days in a year is the number of days in a year excluding weekends and holidays (250).

Determination of daily material consumption:

The stock standard for each type of material is equal to the product of the total stock standard and the daily consumption of materials:

The total stock standard for materials is equal to the sum of stock standards for individual types of materials:

SNZ= 244568.305, where

СНЗ - total stock of materials.

The working capital standard for spare parts is established based on their actual consumption of 1 million rubles. the cost of all equipment by dividing the working capital standard by the book value of the equipment.

The standard for spare parts is calculated depending on the equipment group. The first group includes equipment for which standard working capital standards for spare parts have been developed; the standard is defined as the product of standard standards and the quantity of this equipment, taking into account reduction factors. The second group includes large, unique, including imported, equipment, the standard for which is determined by the direct counting method. The third group of equipment includes small single equipment, the standard for which is established by the consolidated counting method. The working capital standard for spare parts is generally equal to the sum of the standards for three groups of equipment.

The standard for working capital in inventories of low-value and wear-and-tear items is calculated for each item based on stock in the warehouse and operation. The standard for warehouse stock is determined in the same way as for raw materials and basic materials; for operational stock, the standard is set, as a rule, at 50% of the cost of items, the other half of their cost is written off to the cost of production upon transfer to operation.

The current system of rationing working capital has a number of negative consequences, and therefore needs to be improved. For example, the working capital standard in inventories takes into account the cost of stocks of individual materials that do not meet real needs. In fact, the cost of a day's supply of materials and finished products is not constant and during the year can deviate significantly from the planned value. Consequently, when planning working capital based on the standard, it is necessary to take into account the fact that with a significant range of materials, one part of them may be characterized by maximum reserves, and the other by minimum. If maximum inventories increase during production activities, then the amount of normalized working capital will exceed the real need, i.e. excess stocks will arise.

When operating, the organization carries out supply, production and sales activities in parallel. In accordance with the performance of these functions, the circulation of working capital is carried out. Financial resources invested in inventories, work in progress, finished but not sold products, and accounts receivable are related(lose liquidity), while the funds in the current account can be considered as free(liquid) working capital. To manage working capital at all stages of circulation, a special method is used - the rationing method.

Rationing- this is the establishment of economically sound stock standards and standards for elements of working capital necessary for the normal operation of the enterprise.

The fact is that with regard to working capital, one cannot focus on comparing the results obtained only with the actual values ​​in the reporting period or based on an assessment of the deviations that have arisen from the corresponding data obtained in the previous reporting period. There is a need for an economic justification for the amount of working capital, calculated on the basis of technical, techno-economic and economic norms and standards: with the norms of consumption of material resources for the production of a unit of finished products, production norms, headcount standards, norms and standards for the use of production facilities, etc.

By rationing working capital, the total need of business entities for working capital is determined. The correct calculation of inventories of material assets is of great economic importance, since a constantly required minimum amount of funds is established to ensure a normal (continuous) production process and a stable financial condition of the enterprise. The calculation of such a value is necessary, since a lack of free cash will complicate the financial ability of the organization to repay its obligations, and an excessive amount of free cash can also reduce the efficiency of the use of financial resources. Therefore, it is necessary to maintain a certain ratio (balance) between free and tied funds, which is achieved through rationing of working capital.

Working capital is divided into two separate groups: normalized and non-standardized working capital. To do this, the organization for the current planning period forms for itself regulatory framework on working capital.

The main task rationing of working capital is the development and establishment of economically sound reserve standards for individual elements of working capital, ensuring the uninterrupted production and sales process at their minimum size. Such elements of working capital may be stocks of raw materials, materials, fuel, semi-finished products, work in progress, finished products in the warehouse, as well as those shipped to the consumer. All of these elements of working capital are standardized and for them in the planning period, inventory standards are established in relative values ​​(days, percentages) and in monetary terms.

Essence rationing is to use certain standards, that is, indicators calculated according to a certain standard (norm). The standards are set based on predetermined values ​​for the consumption of materials, time, etc., which are calculated, in turn, on the basis of data from previous years or on the basis of technical standards and engineering calculations (if it is known that they did not cause a decrease in efficiency). At the same time, norms and standards are the initial data for the development of the entire system of planned indicators.

Norm- this is the maximum permissible planned value of the absolute consumption of means of production and labor per unit of production or for performing a certain amount of work (for example, the rate of metal consumption shows how many kilograms of metal should be spent on 1 product). From the point of view of scientific economic content, this is a measure that has a numerical value, which is used for study and application in business practice, that is, it allows you to influence the management object. Closely related to inventory standards are norms such as time norms, production norms, material resource consumption norms, etc.

Working capital norm- this is a relative value corresponding to the minimum, economically justified volume of inventories of inventory items, established, as a rule, in days and indicating the duration of the period.

For example, if the inventory rate is 24 days, then there should be exactly enough inventory to support production for 24 days. Norms of working capital depend on the norms of consumption of materials in production, the norms of wear resistance of spare parts and tools, the duration of the production cycle, supply and sales conditions, the time at which certain materials acquire certain properties necessary for consumption, and other factors.

Standard- this is a planned indicator that characterizes the element-by-element components of the consumption rates of raw materials, materials, fuel, energy, labor costs and the degree of efficiency of their use (for example, wage consumption per 1 ruble of finished products, product removal from 1 m 2 of area, planned metal utilization rate) .

Working capital ratio- this is the minimum required amount of funds to ensure the production and economic activities of the enterprise. Standards are determined taking into account the need for funds both for core activities and for major repairs of auxiliary, auxiliary and other units that are not on an independent balance sheet.

Thus, any organization should develop a standard package of methodological documents to determine such norms and standards for standardized indicators. At the same time, the system of working capital standards is the most important component of the system of standard indicators at the enterprise, since for effective operation it is important to know:

• at what level of production and sales reserves the uninterrupted process of production, supply and sales is ensured;
• how many financial resources are diverted to their maintenance;
• what is the optimal amount of cash in cash?

Basic principles standardization (formation of norms and standards) are:

• progressiveness - reflection in the norms and standards of the achievements of the scientific organization of labor, production, management, experience, new technology;
• validity - development of standards based on technical calculations and production analysis;
• comprehensiveness – all standards and standards in their interrelation are covered;
• flexibility and dynamism – systematic updating of the regulatory framework;
• comparability – ensuring harmonization of the regulatory framework at different levels of management and production.

Based on the rate of stock and consumption of a given type of inventory, the amount of working capital necessary to create standardized stocks for each type of working capital is determined (to determine private standards).

Private standards include working capital standards in production inventories: raw materials, basic and auxiliary materials, purchased semi-finished products, components, fuel, containers, work in progress and semi-finished products of own production; in deferred expenses; finished products.

The working capital element standard is calculated using the formula

Where N el – standard of own working capital for an element;

About el – turnover of funds (expense) for this element for the period, t;

T - duration of the period, days;

N el – working capital norm for this element, days.

It is advisable to establish by organization:

1. norms and level of reliability of supplying industrial supplies for the entire specified range of material resources;
2. norms and standards of working capital (including accounts receivable and cash) and the level of security reliability;
3. the share of borrowed funds invested in working capital.

Under reliability the probability of delivery is understood, which affects the relative number of days per year during which the organization will be provided with working capital and circulation funds. The lower the level of reliability, the lower the value of the established norm. The main idea is not just to set standards, but also to evaluate degree of risk(how many days will be enough at a given level of norms).

The degree of risk is directly related to the selected level of reliability of supply with supplies - the higher the level of reliability, the lower the degree of risk. For example, a reliability of 100% means a reserve of 20 days, a reliability of 95% means a reserve of 22 days, etc.

In this case, a rationally chosen risk will make it possible to use material and financial resources much more efficiently in conditions of a lack of own working capital. Thus, one of the goals of rationing is to determine the range of possible variations in daily balances throughout the year, on the basis of which the value of the required stock norm is established.

Currently, there is no clear opinion regarding the use of specific methods for rationing working capital. It is proposed to use different methods for determining norms and standards: analytical, balance sheet, calculation and statistical, etc. The variety of methods is due to the large number of factors influencing the amount of working capital and the variety of models for accounting for these factors. Also important is the desire to simplify the procedure for calculating standard values.

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

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

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

Z TEK = P SUT · I,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

,

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

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

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

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

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

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

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

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

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

WITH- cost per unit of production, rub.;

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

D- duration of the production cycle in calendar days;

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

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

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

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

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

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

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

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

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

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

N BP = O N + Z B.PL – Z S.PL

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

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

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

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

Standard for finished products :

N GP = B · Z GP,

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

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

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

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

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

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

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

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

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

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

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

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

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