|
Table 38
Solvency and liquidity indicators
Factors
|
Formula definition
|
Unity expression
|
Comment
|
Paymentindicators
|
Absolute solvency
|
PM + QMMQ / TM
|
PM funds
CGM - short-term financial investments
TM paymentobligations
|
|
Temporary solvency
|
PM + QMMQ + DM / TM
|
Accounts Receivable
|
Over due liabilities are deducted
|
Totalsolvency
|
PM + QMMQ + DM +
+ INVENTORY / TM
|
INVENTORY stock
|
|
Liquidity indicators
|
Current
|
A1-P1 or A1 / P1> =
|
A1 = PM + QMMQ
|
P1 = KM (
|
Shortterm
|
A2-P1 or A2 / P2> =
|
A2 = DM
|
P2 = KMKQ (Short-term loans and borrowed funds)
|
Longterm
|
A3-P3 or A3 / P3> =
|
A3 = INVENTORY
|
P3 = PPI (long-term loans and payables
|
Dimitar
|
P4-A4 or P4 / A4> =
|
A4 = UMA
|
P4 = UMM (self-financing)
|
Financial stability ratios include financial independence, debt ratio, fiscal measurement ratio, capital investment ratio, debt recovery ratio, debt to equity ratio.
Table 39
Financial Sustainability Indicators
Factors
|
Formula definition
|
Unity expression
|
Financialun certainty ratio
|
UMM / BJ
|
IPC - Resource Source
General badge (passive)
|
Ratio of own and debt obligations
|
IPC / Maj
|
Coreobligations
|
Financial fraud rate
|
BJ / OMM
|
|
Equity ratio
|
GMP + UMKQ-UMA / GMP
|
Long-term loans and loans NBU
UMA - Long-term assets
|
Loan consolidation ratio
|
Maj / bj
|
|
Debt / EquityRatio
|
Maj / OCM
|
|
The financial efficiency ratios include profitability (profitability), private capital (profitability), debt profitability (profitability), net assets return ratios.
Table 40
Indicators related to financial results
Factors
|
Identified
|
Union expression
|
YieldBalance (Yield)
|
Dar (SF) / A
|
Narrow income
SF Net Benefit
Average annual value of assets
|
Returnonequityratio
|
Dar (SF) / XK
|
XK-OwnCapital
|
The profitability ratio (yield) of borrowed capital
|
Gift (SF) / QK
|
Loan capital
|
The profitability ratio (profitability) of net assets
|
Dar (SF) / SA
|
SA - the average annual net asset value
|
Western companies (USA, Canada, UK) use the practice of using the following types of financial ratios:
Table 41
Financial ratios and their definition
Factors
|
Antibody fracture
|
Character description
|
The ROA ratio is an indicator of the amount of profit corresponding to the total amount of assets.
|
ROA = SF + F x (1 - Ss) / JA
|
Profit SF-Net
F-Interest
Ss - tax rate
JA - Total Assets
|
ROE is an indicator of private equity.
|
ROE = Sf / Ak x 100
|
Ak – equity capital
|
|
|
|
ROLC is an indicator of investment capital.
|
ROLC = Sf + F x (1Ss) / Umm + Ak
|
Umm - long-termcommitment
|
The indicators of market activity of the enterprise include the profitability of the shares, the profitability of the shares, the book value of the shares, stocks and profits12.
Table 42
Market efficiency indicators and their definition
Factors
|
Identified
|
Unionexpression
|
Profitability ofaction
|
SFa / Abn
|
SF - net profit per share
Market price share
|
Profitability ofaction
|
Name / Ann or
Name / Abq
|
Title - dividend per share
Annual nominal value of one share (when determining the nominal profit)
The market value of a single action abq
(when determining the actual interest rate)
|
Exchange rate fluctuation coefficient
|
Asb-Aob / Ann
|
Market price per share
Stock purchase price
|
Dividend ratio
|
D / SF
|
D - amount of dividends paid
The advantages of SF-business
|
Working capital ratios include ratios of total assets, long-term assets, current assets, inventories, finished goods, goods, receivables and creditor liabilities
Table_43__Indicators_of_business_activity_and_their_identification'>Table 43
Indicators of business activity and their identification
Coefficient
|
Identified
|
Unionexpression
|
Assetturnover
|
MSST / A
|
Salesnetwork MSST
|
Long-termassetturnover
|
MSST / UMA
|
UMA - Long-termassets
|
Workingcapitalturnover
|
MSST / JA
|
JA-JoriConnectors
|
Turnover inventory
|
MSST / inventory
|
inventorystock
|
Productreadiness
|
MSST / TM
|
TM-Readyproduct
|
Turnoverofgoods
|
MSST / T
|
T-Products
|
Receivablesturnover
|
MSST / DM
|
Obligationsofthedebtor
|
Turnoverofloanobligations
|
SMIChT / KM
|
SMIChT – costprice
|
Comparative analysi. In financial analysis, the type of benchmarking is used as a method of adjusting indicators in absolute and relative terms.
Methodically, this method resembles the analysis of the horizontal and vertical trend. But it is fundamentally different from them. Comparative analysis also provides for the comparison of this analytical object or company data with other data, regulatory standards, plan parameters, averages, advanced indicators. Comparative analysis provides an assessment of the elements and elements of financial statements and indicators characterizing the financial position. Abstract expressions are complemented by relative expressions.
Comparative analysis of financial analysis:
- equivalent of the inverse comparison interval;
- the same measurement of indicators of comparison;
- the emergence of formalities in the determination of key indicators and regulatory indicators;
- include the rules of financial reporting on the subject of the transaction;
- the methodology for the assignment of elements and the preparation of financial statements should be identical.
The comparison method is one of the most frequently used methods of economic analysis, which is used in full disclosure of the financial condition of the company, along with other methods of analysis. Comparative analysis in this aspect also considers financial analysis as a method of management analysis.
Table 44
Comparative analysis of the founder’s figures, financial stability and profitability indicators
Comparativeperformance
|
Paymentability
|
Financialindependence
|
Private Equity
profitability
|
Currentperiod
|
2.6
|
0.52
|
0.12
|
According to the financial plan
|
2.5
|
0.55
|
0.15
|
This is the period of the previous year.
|
2.2
|
0.53
|
0.15
|
Standardindicator
|
3.0
|
0.50
|
0.10
|
AdvancedEnterpriseRating
|
3.4
|
0.70
|
0.16
|
Mediumnetwork
|
2.2
|
0.42
|
0.07
|
The difference is +, -
|
|
|
|
Fromthefinancialplan
|
+0,1
|
+0.03
|
-0.03
|
Compared with the previous year
|
+0.4
|
+0.01
|
-0.03
|
Regardingregulatoryvalues
|
-0,4
|
-0.02
|
+0.02
|
In the case of advanced enterprises
|
-0,8
|
-0,1
|
-0.04
|
Compared to the average network
|
+0.4
|
-0.10
|
+0.05
|
Factor analysis.
A census of factors indicates that the najaviji indicator fluctuates with some factors, and their sign and saving effects are significant. This is a key feature in determining the effective motivating effects of enterprise activities.
Factor analysis of indicators related to efficiency, efficiency.
Factor analysis of indicators related to the efficiency and effectiveness of capital and liabilities;
- factor analysis of indicators related to the efficiency and profitability of financial activities;
- factor analysis of the company's market activity and performance related indicators.
The factor analysis can be described in DuPont's three-factor model, an important figure in a Western analytical school popular in international practice.
This expression can be subtracted from sales return (SF/ST), asset turnover (ST/A), and equity accumulation (AE)
In this case: Rxk - return on equity;
SF - Net Profit;
ST - Net sales;
A - the amount of assets for the last reporting date;
XK is the amount of direct investment on the most recent reporting date.
Table
Analysis of factors affecting the profitability of private capital and its changes
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