Audit and economical analysis

Limit of the criterion
Ball
1	LK > 1.5	1 5
2	1.5 > LK > 1	10
3	1> LK > 0.5	3
4	The first is less than <0.5	0

Picture 3. Evaluation of the enterprise's creditworthiness with the liquidity ratio

       Table 147

Uzbekistan Railwaysliquidity coefficient analysis

Indicators	The beginning of the period	End of the period	The difference
Funds	171 917 383	468 669 767	296 752 384
Short-term financial investments	117 495 315	160 480 738	42 985 423
Debtors' commitments	503 338 335	1 566 042 404	1 062 704 069
Current accounts receivable	-	-	-
Current liabilities	776 820 046	1 848 646 840	1 071 826 794
Liquidity coefficient	1.020	1.187	0.167

Conclusion: The liquidity coefficient 1,020 by the end of the period 1 187 per semester . The absolute change of 0. 167 respectively. The coefficient of coefficient can be evaluated at the beginning of the period and 10 points by the end of the period .

3. Independence coefficient

Independence ratio (M K ), the private equity (PE) business end of the balance sheet total liabilities (BJ) to be calculated by the company to reflect the independence of the sources of the funds borrowed.

MK = XK / BJ

  The value of this indicator should not be less than 30% . Depending on the high turnover of circulating assets and the nature of the business entity's business, the acceptable level of this indicator may be lower.

If the filling of this coefficient is less than 15% if the loan is considered to be the highest risk.

 

N№	Limit of the criterion	Ball
1	M K > 60%	1 2
2	60% > M K > 30%	8
3	30% > MK > 15%	3
4	MK < 15 %	0

Picture 4. Evaluation of the creditworthiness of the enterprise with the independence coefficient

              Table 148

Uzbekistan Railways

analysis of the independence coefficient

Indicators	The beginning of the period	End of the period	The difference
Private Equity	7 745 794 466	10 124 233 076	2 378 438 610
Total balance	13 198 104 658	24 276 893 065	11 078 788 407
Independence coefficient	0.586	0.417	-0.169

Summary: Independence and the beginning of the period coefficient is 0.58, which is equal to 0,417 at the end of the period. The absolute change - 0. 169 respectively. The financial independence can be evaluated with 8 points.

If the sum of the results is calculated less than 9 points after calculating the above three indicators of creditworthiness , then such an enterprise might be granted a loan .

If the sum of scores is 9 to 19 points, such a company is considered to be unpaid and may only be loaned in exceptional cases with high-liquid assets.

Even in a high degree of independence, a large part of the enterprise's own funds can be invested in long-term assets and can not adequately participate in the formation of turnover assets - material reserves and production costs. Therefore , it is necessary to consider whether it has a working capital (OMMM) to estimate its creditworthiness .

OBS = ( XK + UMKQ ) - UMA

Where:

XK - private equity;

IPCS - long-term loans and borrowings

UMA - long-term assets

              Table 150

Uzbekistan Railwayscash flow analysis of own turnover

Indicators	The beginning of the period	End of the period	The difference
Private Equity (Own Funds)	7 745 794 466	10 124 233 076	2 378 438 610
Long - term loans and borrowings	4 675 490 146	12 304 013 149	7 628 523 003
Long-term assets	10   219 731 945	12 593 199 960	2 373 468 015
Cashback turnover	2 201 552 667	9 835 046 265	7 633 493 598

Conclusion: Cash turnover increased by 7 633 493 598 thousand UZS compared to the previous year . This change in the amount of private capital 2 378 438 the amount of 610 thousand UZS and an increase in long-term loans declined 7 628 523 due to the increase of 003 thousand UZS.                  

In the assessment of corporate creditworthiness, the analysis of taxes is studied separately. The purpose of the analysis of hazards is to assess the extent and degree of protection of credit facilities.

The analysis of enterprises' creditworthiness:

• 
  dynamics of evaluation indicators;
  
• 
  balance track of the composition;
  
• 
  assets and profits;
  
• 
  expectations of cash earnings;
  
• 
  the main directions of financial and economic activity are focused on.
  

Among the quantitative currencies, credit analysis analyzes the following key estimates:

• 
  liquidity coefficients;
  
• 
  coefficient of debt ratio;
  
• 
  turnover and profitability indicators.
  

The term of the loan is a necessary condition. That's why it is important that its credit repayment be attracted to a long and short term. Credit resources are returned together with interest payments on overdue payments.

 If payments and interest are paid on time, the client's confidence in the lender will increase. This is the most important aspect of the customer's credit history.

                            

The peculiarities of the credit policy of commercial banks in assessing creditworthiness