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Part revolving funds include:

1) a) production stocks - raw materials, auxiliary materials, purchased semi-finished products, fuel, packaging, spare parts for equipment repair, as well as household equipment;

2) b) work in progress - objects of labor that are in production at different stages of processing in the divisions of the enterprise;

3) c) semi-finished products of own production - objects of labor, the processing of which is fully completed in one of the divisions of the enterprise, but subject to further processing in other divisions of the enterprise;

4) d) deferred expenses, which include the costs of preparing and developing new products, rationalization and invention.

The ratio between individual groups, elements of working capital and their total volumes, expressed in shares or percentages, is called working capital structure . It is formed under the influence of a number of factors: the nature and form of organization of production, the type of production, the duration of the technological cycle, the conditions for the supply of fuel and raw materials, etc.

circulation funds – these are the funds of the enterprise invested in stocks of finished products, goods shipped but not paid for, as well as funds in settlements and cash on hand and in accounts.

Funds of circulation are associated with servicing the process of circulation of goods, they do not participate in the formation of value, but are its carriers. After the product is manufactured and sold, the cost working capital reimbursed as part of the proceeds from the sale of products (works, services). This contributes to the constant renewal of the production process, which is carried out through the continuous circulation of enterprise funds. In its movement, working capital goes through three stages: cash, production and commodity.

19.20 planning and regulation of working capital

Sources of formation of working capital (SBS) are divided into two types

1.Own OBS:

n working capital(funds of the owners of the enterprise);

· n profit - the main source;

n sustainable liabilities (equivalent to own funds):

§ - wage arrears;

§ -debt to the budget;

§ - debt for containers;

§ - advance payment.

2. Raised funds:

§ ¨ borrowed (short-term bank loans);

§ ¨ government loan;

§ ¨ other (balances of funds, reserves not used for their intended purpose).

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 total need of the enterprise for working capital is determined.

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

Rationing the consumption of certain types of material resources provides for the observance of certain scientific principles. The main ones should be: progressiveness, technological and economic feasibility, dynamism and ensuring the reduction of standards.

In practice, three methods of normalization of working capital are used:
1) analytical- provides for a thorough analysis of cash inventory material assets with the subsequent extraction of excess from them;

2) coefficient- consists in clarifying the current standards of own working capital in accordance with changes in production indicators;
3) direct counting method- scientifically substantiated calculation of standards for each element of normalized working capital.

When establishing norms and standards for the planned year, it is recommended to use the experimental-statistical and calculation-analytical method.

Working capital rate- the value corresponding to the minimum, economically justified volume of reserves. It is usually set in days.

OS standard- the minimum required amount Money ensuring business continuity.

OS norm (N a.os) is determined by the formula:

N a.os \u003d Z tech + Z str + Z tran + Z tech + P r,

§ where Z current is the current stock (the main type of stock, the most significant value in the OS norm);

§ W str - safety stock;

§ Z tran - transport stock;

§ З tech - technological reserve;

§ P r - the time required for acceptance.

Working capital ratio in inventories defined:

Z sr.s * N s,

§ where З ср.с - average daily consumption in value terms;

§ N s - stock rate in days.

Rationing of fixed assets in work in progress(N np) is carried out according to the formula:

H np \u003d VP sr.d. * P c * K,

§ where VP sr.d - the average daily output of products at production cost;

§ P c - the duration of the production cycle;

K - the coefficient of increase in costs, which, with a uniform increase in costs, is determined by the formula:

§ where Ф e - one-time costs;

§ F n - increasing costs;

§ C - cost.

With an uneven increase in costs

K \u003d C cf / P

§ where C cf - the average cost of a product in work in progress;

§ P - production cost products.

Working capital ratio in deferred expenses(Nbp) is determined by the formula:

N b.p. \u003d RBP start + RBP pre - RBP s,

§ where RBP nach - the carry-over amount of deferred expenses at the beginning of the planned year;

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

§ RBP s - deferred expenses to be written off to the cost of production of the coming year.

The standard of working capital in the balance of finished products defined:

N g.p \u003d VGP days. * N z.skl. ,

§ where GWP days. - the cost of one-day production of finished products;

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

The total working capital ratio is the sum of the working capital ratios calculated for individual elements.

21. Efficiency in the use of working capital

Among the indicators of the effectiveness of the use of working capital are the following.

1. The duration of one revolution (D o) is determined by the formula:

§ where C o - balances of working capital for the period;

§ T lane - the number of days in the period;

§ V real - amount products sold.

2. The turnover ratio shows the number of revolutions made per certain period. It is determined by the formula:

3. The load factor of the OBS characterizes the amount of working capital per 1 rub. products sold:

4. The profitability of working capital is calculated as the ratio of the enterprise's profit to the average annual cost of working capital.

As a result of the acceleration of turnover (intensity of use of fixed assets), a certain amount of fixed assets is released.

Absolute Release reflects a direct decrease in the need for working capital. Absolute release occurs when

Fact< С о.план, V реал = const ,

§ where C o.fact - the actual balances of OS;

§ C o.plan - planned residuals of the OS;

§ V real - the volume of sales.

Absolute release is determined by the formula:

AB \u003d C o.fact - C o.plan.

Relative release OBS occurs when the turnover accelerates with an increase in production volume. In contrast to the absolute release, the funds released in this case cannot be withdrawn from circulation without maintaining the continuity of production.

22. Formation of personnel of the enterprise.

primary goal formation of personnel at the enterprise - minimization of losses caused by a mismatch between the abilities to work and personal qualities of people potentially formed in the process of training with the possibilities of their use in the performance of specific types of work, potential and actual employment.

The formation of personnel should be based on the following principles:

Compliance of the number of employees with the volume of work performed and the qualifications of the employee, the degree of complexity of his labor functions;

· conformity of structure of personnel of the enterprise to objective factors of manufacture;

· creation of conditions for constant professional development and expansion of the professional profile of employees;

Maximum efficiency in the use of working time.

The formation of personnel of enterprises requires the development of a support system, which should cover the following stages:

1. preparatory (career guidance, career selection);

2. distributive (selection and placement of personnel);

3. adaptive (formation of a socio-psychological structure, interpersonal relationships, i.e. socio-psychological adaptation; professional training).

Human Resources This is the part of the population of working age that has the necessary physical development, knowledge and practical experience to work in national economy. The labor force includes both employed and potential workers.

The personnel of the enterprise (personnel, labor collective)- This is the totality of employees included in its payroll.

All employees of the enterprise are divided into two groups:

- industrial and production personnel engaged in production and its service;
- non-industrial personnel employed mainly in social sphere enterprise activities.

By the nature of the functions performed, industrial production personnel (PPP) are divided into four categories: workers, managers, specialists and technical performers (employees).

workers - these are employees directly involved in the production of products (services), repairs, movement of goods, etc. They also include cleaners, janitors, cloakroom attendants, security guards.

Depending on the nature of participation in the production process, workers, in turn, are divided into main (producing products) and auxiliary (serving the technological process).

Leaders - workers holding positions of heads of enterprises and their structural divisions(functional services), as well as their deputies.

Specialists - employees performing engineering, economic and other functions. These include engineers, economists, accountants, sociologists, legal advisers, raters, technicians, etc.

23. personnel of an economic entity. Classification

All employees, depending on the degree of their participation in production activities, are divided into industrial and production and non-production personnel.

To the industrial P production staff include employees directly involved in the production of products, the performance of work and the provision of services.

Non-industrial personnel - employees serving non-industrial farms and organizations of an economic entity. These include employees of housing and communal services, children's and medical and sanitary, cultural and educational institutions, etc.

Industrial and production personnel, depending on the nature of the functions performed in the production process, is divided into workers (main and auxiliary), employees and engineering and technical workers (specialists and managers).

To the workers include workers directly involved in the creation of wealth and the provision of production and transport services. Workers are divided into main and auxiliary. Their ratio is an analytical indicator of the work of an economic entity.

Essential Workers are directly involved in the manufacture of products, the provision of services and the performance of work.

Auxiliary workers serve the technological processes of the main and auxiliary production (adjusters, thermists, etc.).

Employees - employees performing accounting, statistical, clerical, supply and marketing and administrative functions.

Engineering and technical workers perform the functions of technical, organizational and economic leadership and management.

It is very useful in the analysis of production and economic activities to subdivide personnel into the following categories, managers, specialists, employees, workers.

An important direction in the classification of personnel is their distribution according to professions, specialties, and qualifications.

According to the level of qualification, workers are divided into unskilled, low-skilled, skilled and highly skilled. The qualifications of workers are determined by ranks. Experts are divided into qualifying categories: specialist 1, 2, 3 category and without category.

Managers are distributed according to management structures and management links.

According to the management structures, managers are divided into linear and functional, according to management levels - into top, middle and lower levels.

In the conditions of becoming market economy new elements appeared in the classification of personnel - managers of different levels. These include heads of all levels of management, as well as specialists in management services: managers for advertising, sales, personnel, etc.

24. payroll and attendance

In the practice of accounting for personnel, there are direct, payroll and average headcount. Turnout number – These are workers who come to work. IN payroll personnel includes all employees who came to work, as well as those who are absent for any reason (employees on vacation, business trips, who did not appear due to illness, employed in the performance of public and public duties and etc.).

The list of employees of the enterprise includes all workers and employees hired for seasonal, temporary and permanent work. The payroll does not include employees hired for a period of less than one day. Those hired part-time are accounted for separately.

The payroll number of employees is constantly changing and can only be fixed on a certain date, therefore, to characterize the number of employees for a month, quarter, year, average headcount. The average headcount is calculated by summing the payroll of employees for all days of the month (including holidays and weekends) and dividing the resulting amount by the number calendar days in a month. At the same time, the payroll number of employees on weekends and holidays taken from the previous day.

25. Personnel planning and recruitment.

aim headcount planning is to establish optimal number employees to ensure uninterrupted production process with minimal labor input.

Task determination of the need for employees and sources of its satisfaction is decided on the basis of the results of the analysis of the adequacy of personnel and forecasting of its dynamics, based on the expected changes in the structure of the enterprise, the range and quality of products, technology, organization of production, labor and management, as well as the state of internal and foreign markets labor. The total number of employees of the enterprise ( H pl ) in the presence of planned targets in terms of production volume and labor productivity is determined by the following formula

§ Where H bases- the number of employees of the enterprise in the base period,

§ I about- index of production volume growth in the planned period,

§ I Fri- index of labor productivity growth in the planned period.

Selection and placement of personnel are of key importance in the formation of personnel. The essence of recruitment is that, based on the general and specific requirements for a candidate for this position, and evaluation of all available candidates, a decision is made to select the best of them.

Recruitment can be done in the following ways:

1. Recruitment - appointment (competition), which is associated with the involvement in the management of employees from the outside, who previously did not work at the enterprise.

2. Promotion - the appointment of an employee working in this team to a new, higher position (vertical movement).

3. Rotation - an appointment in which the place of work, position can change horizontally.

26. indicators of changes in payroll.

The movement of employees at the enterprise (turnover) is characterized by the following indicators:
- the turnover ratio for acceptance is the ratio of the number of all accepted workers for this period to average headcount workers for the same period;
- retirement turnover ratio - this is the ratio of all retired employees to the average number of employees;
- staff turnover rate - this is the ratio of those who left the enterprise for unexcused reasons (at the initiative of the employee, due to absenteeism, etc.) to the average headcount (determined for a certain period).

27. work time and its use. working time budget

The basic units of accounting for working time are man-hours and man-days. A person can and should work every day no more than the time that is defined as the duration of the work shift, and sometimes more, but only within the limit of overtime hours allowed by law.

A man-hour of worked or unworked time is considered to be one hour of an employee's stay during a shift at the enterprise, and a man-day is one day of an employee during his stay in the company's staff.

To determine and evaluate the actual results achieved using labor resources it is necessary to define:

total value labor resources;

Dimensions beneficial use their losses

The calendar time fund of employees, both in general and for individual categories and groups, can be determined in two ways: either by summing up the payroll numbers of employees for all calendar days of the period, or by multiplying the average number of employees by the number of calendar days in the same period for which it was the average list number is determined.

In practice, not all of the calendar time is actually used. The composition of the calendar fund of time of each employee for a long period of time will include weekends, holidays, vacations provided for by labor legislation; days of absence from work due to illness and other reasons; absence from work with the permission of the administration, absenteeism, etc.

The structure of the calendar fund of time for an economic entity as a whole, for individual categories and groups of employees is determined by compiling a balance of working time.

It is advisable to provide the structure of the calendar fund of time in an enlarged form, highlighting as part of the calendar fund the personnel fund, the maximum possible (nominal), secret planned, secret actual and effective working time fund ( real fund).

Timesheet fund of working time equal to the difference between the calendar fund of working time and the number of days, at. who go on holidays and weekends.

The maximum possible fund of working hours is equal to the difference between the personnel fund of working time and the number of days falling on regular vacations.

The turnout fund of time acts in the form of a planned and actual fund.

Turnout planned fund of working time defined as the difference between the maximum possible fund working hours and whole-day losses of working time provided for by labor legislation: maternity leave, parental leave, study leave, absence from work due to illness, etc.

Turnout actual fund of working time is defined as the difference between the unplanned planned fund of working time and unplanned all-day losses of working time that are not provided for by labor legislation: absenteeism, absenteeism from work with the permission of the administration, all-day downtime.

All the above types of working time funds are defined in days, the effective (real) time fund is calculated in hours. When determining uh effective time fund based on the mode of operation and the average length of the working day. The effective working time fund of one employee characterizes the average number of hours that an employee must work during the planning period.

Labor law regulates the duration working week in hours (40 hours) as a basic standard, however, the legislation also provides for a reduction in the length of the working day. These groups of workers include adolescents under the age of 18; workers engaged in heavy and hazardous work.

Average man-hours worked calculated by dividing the total number of employees worked

working capital - this is a set of funds of the enterprise necessary for the formation and maintenance of the circulation of production working capital and circulation funds.

Figure 4.1 OS circuit diagram

Rice. 4.2. Composition and placement of working capital

Working capital includes the following main elements (Fig. 4.2).

Part revolving funds include:

a) production stocks - raw materials, auxiliary materials, purchased semi-finished products, fuel, packaging, spare parts for equipment repair, as well as household equipment;

b) work in progress - objects of labor that are in production at different stages of processing in the divisions of the enterprise;

c) semi-finished products of own production - objects of labor, the processing of which is fully completed in one of the divisions of the enterprise, but subject to further processing in other divisions of the enterprise;

d) deferred expenses, which include the costs of preparing and developing new products, rationalization and invention.

The ratio between individual groups, elements of working capital and their total volumes, expressed in shares or percentages, is called working capital structure . It is formed under the influence of a number of factors: the nature and form of organization of production, the type of production, the duration of the technological cycle, the conditions for the supply of fuel and raw materials, etc.

circulation funds – these are the funds of the enterprise invested in stocks of finished products, goods shipped but not paid for, as well as funds in settlements and cash on hand and in accounts.

Funds of circulation are associated with servicing the process of circulation of goods, they do not participate in the formation of value, but are its carriers. After the manufacture of products and their sale, the cost of working capital is reimbursed as part of the proceeds from the sale of products (works, services). This contributes to the constant renewal of the production process, which is carried out through the continuous circulation of enterprise funds. In its movement, working capital goes through three stages: cash, production and commodity.

When developing an optimal inventory management policy, the following are taken into account:

• stock level at which an order is made;
• the minimum allowable level of stocks (safety stock);
• optimal order batch.

For optimal inventory management necessary:

• estimate the total need for raw materials for the planned period;
• periodically specify the optimal batch of the order and the moment of ordering raw materials;
• periodically update and compare the cost of ordering raw materials and the cost of storage.
• regularly monitor the conditions of storage of stocks;
• have a good accounting system.

For inventory analysis, turnover indicators and rigidly determined factor models are used.

Optimal WIP Management

a) the size of work in progress depends on the specifics and volumes of production;

b) under conditions of a stable repetitive production process, standard turnover rates can be used to evaluate work in progress;

c) the cost of work in progress consists of three components: direct costs of raw materials and materials, costs of living labor and part of overhead costs.

Optimal management of finished products implies taking into account the following factors:

n finished products increases as the production cycle is completed;

n the possibility of rush demand;

n seasonal fluctuations;

n stale and slow-moving goods.

Investing in inventory always involves two types of risk:

a) price changes;

b) moral and physical obsolescence.

A just-in-time delivery system can be effective if:

• there is a good information system;
• suppliers have good systems quality control and delivery;
• There is a well-functioning inventory management system in the company.

Effective customer relationship system implies:

a) qualitative selection of clients to whom credit can be granted;

b) determination of optimal credit conditions;

c) a clear procedure for filing complaints;

d) monitoring how customers fulfill the terms of contracts.

Efficient administration system implies:

1) regular monitoring of debtors by type of product, amount of debt, maturity, etc.;

2) minimization of time intervals between the moments of completion of work, shipment of products, presentation of payment documents;

4) careful consideration of customer requests for payment terms;

5) a clear procedure for paying bills and receiving payments.

The golden rule of accounts payable management is to extend the maturity of debt as much as possible without compromising existing business relationships.

The significance of cash and cash equivalents is determined by three reasons:

a) routine (the need for financial support for current operations);

b) precaution (the need to pay off unforeseen payments);

c) speculativeness (the possibility of participating in an unforeseen profitable project).

Effective cash management is closely linked to the system of relationships with banks. financial cycle, which characterizes the time during which funds are diverted from circulation, is an important characteristic financial management. Cash flow analysis allows you to determine the balance of cash flow as a result of the current, investment, financial activities and other operations. Cash flow forecasting is associated with an assessment of the main factors: the volume of sales, the share of revenue for cash, the amount of receivables and payables, the amount of cash costs, etc.

First of all, let's define what constitutes a company's cash. The company's funds are the totality of all money in cash, on bank settlement, currency, special and deposit accounts in issued letters of credit and special accounts, checkbooks, transfers in transit and monetary documents. Monetary assets also include investments in marketable securities and claims for cash.

Cash characterize the initial and final stages of the circulation of economic assets.

The speed of cash flow is largely determined by the efficiency entrepreneurial activity. The amount of money available to the enterprise, as the most important means of payment, determines the solvency of the enterprise, this is one of the most important characteristics of its financial position.

Cash is the only type of working capital that has absolute liquidity, that is, the immediate ability to act as a means of payment for the obligations of the enterprise. It is their volume that determines the solvency of the enterprise. To determine the level of solvency, the amount of cash is compared with the amount of current liabilities of the enterprise. A solvent company is one that has enough cash to settle their current liabilities. In addition, the company needs cash reserves to pay for possible contingencies, as well as to make profitable investments. However, any excess cash reserves lead to a slowdown in their turnover, that is, the efficiency of their use decreases, and in inflationary conditions lead to serious losses due to their depreciation.

The art of management cash flows is not to accumulate more money, but in the optimal use of their reserves, and such planning of cash flow, in which, for each next payment of the enterprise for its obligations, the receipt of money from buyers and other debtors was ensured, while maintaining the necessary reserves. This approach provides an opportunity to maintain the solvency of the enterprise, extract additional profits, due to the investment of emerging free monetary resources, to prevent their necrosis.

The special importance of funds lies in their role as a tool for managing cash flows, monitoring the safety, legality and efficiency of the use of funds, maintaining the daily solvency of the enterprise.

The essence of money is manifested in their functions.

1. Money as a measure of value.

Equating a commodity to a certain amount of money gives a quantitative measurement of the magnitude of the value of the commodity. The value of a commodity expressed in money is its price. The cost measure function is implemented based on the price scale. The scale of prices, as an indicator of the magnitude of the cost, is converted into a market price expressed in national monetary units.

2. Money as a means of circulation.

Money as a medium of exchange allows resource owners and producers to pay in a commodity (money) that can be used to purchase any other good or service available on the market. Money allows you to avoid the inconvenience that arises in the barter exchange.

3. Money as a means of accumulation, savings and the formation of treasures.

Money withdrawn from circulation for the purpose of accumulation performs the function of a means of creating treasures, storing value.

Treasure is the accumulation of precious metals in the form of coins, bullion, jewelry and other items owned by the state or private individuals. The market system stimulates the transformation of treasures into profitable capital through the credit system, including the stock exchange.

4. Money as a means of payment.

Goods cannot always be sold with immediate payment for cash, so there are calculations that are stretched over time and are actually based on the deferral of payment of money. Money functions as a means of payment not only when paying for goods purchased on credit, but also when repaying other obligations, for example, when repaying cash loans, paying rent for land, paying taxes, as well as in settlements between economic agents that are carried out through banks.

The monetary system is a form of money circulation in cash and non-cash forms. It includes the following elements: the monetary unit, the scale of prices, the types of money in the country and the procedure for issuing them, as well as the state apparatus that regulates monetary circulation.

In the course of business activities, organizations constantly conduct settlements with suppliers for fixed assets, raw materials and other inventory items purchased from them and services rendered, with buyers for goods purchased by them and customers for work performed and services rendered, with credit institutions for loans and other financial transactions, with a budget for various kinds of payments, with other physical and legal entities for various business transactions.

Cash payments are made either in the form of non-cash payments or in cash. Non-cash payments in a market economy are carried out using payment orders and other settlement documents, by transfers to settlement and current accounts of customers in banks. Unlike cash payments, when money is directly transferred by the payer to their recipient, non-cash payments are made for the most part through various banking, credit and settlement operations that replace cash in circulation. The use of non-cash payments reduces the need for cash, reduces the cost of money circulation, contributes to the concentration of free funds of organizations in banks, and ensures their more reliable safety.

For the correct organization of money circulation, accounting of funds, settlement and credit operations is important.

The skillful use of funds in itself can bring additional income to the organization, for example, through the rational investment of temporarily free funds for profit (in bank deposits, government securities, securities of other organizations, investment funds and so on).

The main tasks of cash accounting are:

Checking the correctness of documenting and the legality of transactions with funds, settlement and credit operations;

Timely and complete reflection of cash transactions in accounting;

Ensuring timeliness, completeness and correctness of calculations for all types of payments and receipts;

Identification of receivables and payables;

Timely identification of the results of the inventory of funds, monetary documents and settlements;

Ensuring the collection of receivables and repayment of accounts payable of loans from credit institutions in a timely manner;

Ensuring the safety of funds, monetary documents at the cash desk and other places of their storage and issuance;

Uninterrupted satisfaction of urgent needs of the organization with cash;

Cash flow management;

Investment of free cash in sources of financial investments that generate income.

To account for cash and settlement transactions, a system of accounting accounts is used, united in sections "Cash" and "Settlements". They include cash accounts, settlement, currency and special accounts, money documents, transfers in transit and all types of internal and external settlements of the organization.

Working capital is a set of funds advanced for the creation and use of working capital and circulation funds to ensure a continuous process of production and sale of products.

When forming the statutory fund (capital), the enterprise independently establishes the planned amount of working capital necessary for its production activities, in the form of a standard in monetary terms.

Fixed assets are classified according to various criteria. By industry, fixed assets are divided into groups related to various sectors of the economy:

Construction;

Trade and catering;

Logistics support;

Agriculture and forestry;

Transport, communications, supply;

housing and communal services, healthcare, etc.

This division allows you to obtain information about the value of fixed assets in each industry. By purpose, fixed assets, depending on their participation in economic turnover, are divided into two categories:

1) production (industrial buildings, structures, working machines, transport, etc.);

2) non-production, not directly involved in production, but actively influencing the production process (buildings, cultural centers, hostels, baths, canteens, etc.).

According to the degree of use, fixed assets are divided into four categories:

1) active;

2) spare;

3) inactive;

4) under construction.

According to the availability of rights to objects, fixed assets are divided into three groups:

Organizations owned;

located in the organization operational management or in economic management;

leased by the organization.

Accounting records of fixed assets are maintained for the following purposes:

Formation of actual costs associated with the acceptance of assets as fixed assets to accounting;

Proper execution of documents, timely reflection of the receipt of fixed assets, internal transfer and disposal;

Reliably determine the results from the sale and other disposal of property, plant and equipment;

Determining the actual costs associated with the maintenance of fixed assets (technical inspection, maintenance, etc.);

Ensuring control over the safety of fixed assets accepted for accounting;

Analysis of the use of fixed assets;

Obtaining information about fixed assets required for financial statements. Operations on the movement (disposal, internal movement, receipt) of fixed assets are made out by primary accounting documents.

According to the sources of formation, the working capital of an enterprise is divided into own and borrowed (attracted). Circulating assets function only in one production cycle and fully transfer their value to the newly manufactured product, therefore they are also called variable capital.

When planning the need for working capital, three methods are used:

1) Analytical;

2) Coefficient;

3) Method of direct counting.

Analytical method involves determining the need for working capital in the amount of their average - actual balances, taking into account the growth in production volume. It is used in enterprises where funds invested in material values ​​and costs have a large specific gravity V total amount working capital.

With the coefficient method, inventories and costs are divided into those that depend on changes in production volumes (raw materials, materials, costs for work in progress, finished products in stock) and those that do not depend on it (spare parts, low-value and wearing out items, deferred expenses). 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 coming year. For the second group working capital need is planned at the level of their average - actual balances for a number of years.

The direct account method provides for a reasonable calculation of reserves for each element of working capital, taking into account all changes in the level of organizational and technical development of the enterprise, transportation of inventory items, and the practice of settlements between enterprises. The direct account method is used when organizing a new enterprise and periodically clarifying the need for working capital of existing enterprises. IN general view its content includes the following stages of work:

1) development of stock standards for individual the most important types inventory items of all elements of normalized working capital, expressed in days of stock, rubles per unit of account, percent, etc. The stock rate is calculated for each element of working capital and characterizes the minimum stock of inventory items for a certain period of time, which is necessary to ensure the continuity of the production process;

2) calculation of the average daily consumption of this type of material assets based on their consumption according to the estimate of production costs. Average daily the expense is calculated as the quotient of the respective production costs divided by 90, 180 or 360 days;

3) determination of the standard of own working capital and the total need of the enterprise for working capital.

The working capital ratio is the minimum amount of cash that is constantly needed by the enterprise for its production activities.

The general standard of working capital, or the total need for working capital of an enterprise, is defined as the sum of private standards calculated for individual elements of working capital.

Thus, working capital is a set of funds used in working capital assets and provide continuous process production and sale of products. Fixed assets are classified according to various criteria. By industry, fixed assets are divided into groups. This division allows you to obtain information about the value of fixed assets in each industry. Current assets, unlike fixed assets, function only in one production cycle and fully transfer their value to the newly manufactured product.

The money supply is the totality of all funds in the economy in cash and non-cash forms, performing the functions of a means of circulation, payment and accumulation.

TOPIC 14. MONETARY AND CREDIT SYSTEM

Anti-inflation policy

The negative socio-economic consequences of inflation are forcing governments different countries carry out anti-inflationary regulation, for which two types of anti-inflationary policy are used.

1. Price and income policy, which aims to link the growth of earnings with the rise in prices. It is important to note that increase or freeze limits may be set to contain adverse events. wages and price control. Because this policy is an administrative rather than a market strategy for fighting inflation, it does not always achieve its stated goal.

2. A policy aimed at reducing the budget deficit͵ limiting credit expansion, curbing the issue of money, the standard recipe for which is to reduce the growth rate of the money supply.

14.1. MONEY MASS. MONEY TURNOVER. MONEY AGGREGATES.

The mechanism for the redistribution of capital between creditors and borrowers with the help of an intermediary or the transformation of free cash into loan capital is financial market.

Money market the most important integral part financial market and is represented by a certain amount of money.

The most important elements of the monetary system are:

- currency unit is installed in legislative order a banknote, which serves to measure and express the prices of all goods;

- price scale- the weight amount of the monetary metal accepted in the country as a monetary unit and its constituent parts; the official price scale has lost its meaning due to the peculiarities economic development individual countries and the cessation of the exchange of credit money for gold;

- money issuance system- institutions issuing money and securities; legally fixed procedure for issuing money into circulation;

- forms of money- an exchange value embodied in a certain type of universal equivalent, which is able to ensure the stability of the circulation of goods and is a legal tender in cash circulation (these are mainly credit bank notes, paper money and small change);

- currency parity- the ratio of the national currency to other currencies;

- institutions of the monetary system- government and non-government institutions that regulate money circulation.

In the world there are various systems of monetary circulation, which have developed and historically enshrined in the law of each state.

Given the dependence on the type of money in circulation, two types money circulation systems:

- the system of circulation of metallic money, when full-fledged gold and silver coins circulate, and credit money is freely exchanged for monetary metal (ingots or coins);

- the system of circulation of credit and paper money, when gold is forced out of circulation and, in connection with this, credit and paper money are exchanged for gold.

Modern monetary circulation is a set of funds externally acting in two forms:

cash ( it is customary to understand coins (bargain money), banknotes (banknotes) with a forced exchange rate and treasury notes (paper money) );

non-cash ( this is a form of cash payments and settlements, in which the physical transfer of banknotes does not occur, but simply entries are made on settlements, current accounts with the Central Bank and its branches ) .

In terms of volume, cash is significantly inferior to cash held in bank accounts: banknotes and small change in modern conditions make up only about 10% of all cash.

History testifies to the existence of such varieties of monetary systems as bimetallism, based on the use of two metals as money - gold and silver (XVI-XIX centuries), and monometallism, which uses only one metal in circulation - gold, and paper money is freely exchanged for this metal.

Monometallism historically existed in the form of three standards: gold coins (free circulation of gold coins); gold bullion (it was possible to exchange tokens of value for gold only upon presentation of an amount corresponding to the price of a standard bullion); gold - motto (when banknotes were allowed to be exchanged for foreign currency - mottos that can be exchanged for gold).

The world economic crisis of 1929-1933. put an end to the era of monometallism. In its place comes the system of fiat credit money, which is characterized by:

Demonetization of gold;

Cancellation of the gold content of banknotes;

Significant expansion of non-cash turnover;

Dominant position of credit money;

Strengthening the issue of money for the purpose of lending to private business and the state;

State regulation money circulation.

In the money market, as in any other, there is a demand for money and its supply.

The supply is usually understood as the money supply in circulation, ᴛ.ᴇ. set of means of payment circulating in the country at the moment.

To characterize the money supply, monetary aggregates are used, which are various groups of liquid assets: M1, M2, MZ, L and etc.

Unit ml (money for transactions) includes: coins, paper money, money in current accounts.

Unit M2 includes: coins, paper money, current accounts, i.e. aggregate Ml, plus money in savings and term deposits.

Unit MOH includes unit M2 plus deposits in specialized institutions and special types of savings.

There are other aggregates L- group valuable papers, X - foreign currency, etc.

The money supply is calculated using the money multiplier.

money multiplier(monetary multiplier) is the part of the excess reserve that the commercial banking system can use to increase the supply of money in circulation and the amount of termless deposits by providing new loans (or buying up securities). It is equal to one divided by the required reserve ratio. The money multiplier shows how many times the money supply will change if the monetary base (the money of the Central Bank) changes.

Τᴀᴋᴎᴍ ᴏϬᴩᴀᴈᴏᴍ, the money supply is the interaction of the monetary base and the multiplier.

The money multiplier is used to predict the money supply and regulate the money supply. The Central Bank plays the main role in this process.

The ratio of the money supply and the mass of goods and services on the market determines the purchasing power of money.

The purchasing power of money is the amount of goods and services that a unit of money can buy. As the price level rises, the purchasing power of money decreases, and vice versa.

There are various theoretical approaches to the analysis demand for money.

1. Monetarist approach.

monetarism money- money)- an economic concept that considers money in circulation as the main tool for macroeconomic analysis.

Monetarism arose in the mid-1950s. XX century, and the term itself first appeared in the work of K. Brunner ʼʼThe role of money in monetary policyʼʼ.

The ancestor of this direction is Gerving Fischer.
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Monetarism has become widespread since the early 70s. In the West, the leader of modern monetarism is M. Friedman (USA - the Chicago school), in Russia - Yegor Gaidar and others.

Simply put, the essence of monetarism boils down to two theses:

1) Money plays a major role in the economy.

2) The central bank can influence the money supply, i.e., the amount of money in circulation.

Within the framework of the quantity theory of money, the demand for money was determined in accordance with by the equation (model) of I. Fisher:

MV=PQ

Where M - the amount of money in circulation; V- the speed of circulation of money; Q- the number of goods sold; R- the average yen of goods and services.

Transforming the equation, we got:

Where MD is the demand for money.

If we assume that all transactions are accounted for in GNP, That PQ equal to nominal GNP. From here: MV= GNP and further:

Modern interpretation of the quantity theory of money by M. Friedman takes into account the demand for money not only of society as a whole, but also of an individual, which is limited by the amount of this person's ʼʼresource portfolioʼʼ, i.e. money and other assets:

MD = Pf(Rb, Re, p, h, y, u),

Where MD- the amount of demand for money; R- absolute price level; Rb- the nominal rate of interest on bonds; Re- market value of income from shares; R- rate of level change in percent; h- the relationship between human wealth (labor) and all other forms of wealth; y- total wealth; And - a value that reflects a possible change in tastes and preferences.

2. Keynesian approach.

Keynesian theory attempts to determine the demand for money based on the motives of an economic entity, which encourage him to keep part of his wealth in the form of liquid monetary assets. WITH the subject cannot always determine what motives he is guided by in his demand for money.

Keynes highlights the following motives:

transactional is a motive for holding money based on the convenience of using it as a means of payment.

Speculative is the motive for keeping money, which arises from the uncertainty of the future market value financial assets and desire to avoid losses.

Precautionary motive- this is the motive for holding money in order to be able to carry out unplanned expenses in the future.

Keynes believed that the demand for money depends on nominal income and the rate of loan interest: nominal income directly affects money demand, and the rate of loan interest inversely.

The money supply is the totality of all funds in the economy in cash and non-cash forms, performing the functions of a means of circulation, payment and accumulation. - concept and types. Classification and features of the category "Money supply is the totality of all funds in the economy in cash and non-cash forms, performing the functions of a means of circulation, payment and accumulation." 2017, 2018.