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Evaluation and management of the fixed capital of the enterprise. Theoretical issues of managing the fixed capital of an enterprise. Intangible assets include rights arising

Introduction
	Enterprise fixed capital management: goals and content
		Composition of fixed capital
		Sources of formation and use of fixed capital
	Fixed capital management
		Efficiency of fixed capital use
		The economic essence of the capital intensity of products
		Changes in capital intensity under the influence of various factors
		Analysis of the level of use of fixed capital
Conclusion
List of used literature

Introduction.

Russia's gradual transition from a centrally planned economic system to a market one raises the question of how the enterprise's economy should be managed in a new way. Traditional structures and ways are changing. At present, the leaders of the enterprise, studying and shaping what is called civilized forms of market relations, are becoming a kind of "architects" for the development of new economic relations and methods of conducting the enterprise's economy.

Market conditions constantly raise questions that need to be addressed. Enterprise success is defined as general conditions management, and the ability of the manager to effectively use factors of production.

In market conditions, each enterprise must look for its own development path, new forms of capital investment and methods of work. The successful implementation of these conditions largely depends on the forms of resource support of the enterprise and the nature of its use, in particular, on the provision of the enterprise with fixed and working capital, labor force.

The rational use of resources affects the results of labor activity. Successful management of the economy of an enterprise in a market environment involves the use of methods and techniques of entrepreneurship.

Long-term world experience confirms that market relations cannot objectively develop without the participation of the state. The development of market relations as a self-regulatory system is limited and subject to contradictions, so the state must regulate this process in order to mitigate social contradictions and influence the economy with the accelerated development of priority sectors using financial and economic levers, i.e. through public investment, soft loans, subsidies, etc.

Capital: concepts, types, structures, sources of formation.

1.1 Composition of fixed capital

As you know, the basis of any production process is human labor, which presupposes the existence of means and objects of labor as a necessary condition for its activity. Together, all these three elements constitute the productive forces of society. In the process of production, knowledge of the means and objects of labor is not the same. The decisive role belongs to the means of labor, i.e. the totality of material means by which the worker affects the object of labor, changing its physical and chemical properties.

Main capital industrial enterprise includes means of labor that repeatedly participate in the production process. Gradually wearing out, they transfer their value to the created product in parts over a number of years in the form of depreciation.

According to its economic content, fixed capital is homogeneous. At the same time, it differs in terms of production and technical content, the role of production and the period of reproduction. Theoretical basis The classification of fixed capital by type is the division of the means of labor proposed by K. Marx, depending on their role in production. Of all the means of labor, the leading group is mechanical means that characterize the technical equipment of production and the production capacity of an industrial enterprise. K. Marx refers to the second group the means of labor "necessary in general in order for the process to be carried out."

At present, in accordance with the standard classification, the fixed capital of an industrial enterprise is divided into following groups:

Buildings - architectural and construction objects designed to perform certain technical functions;
Structures;
Transfer devices - devices with the help of which various types of energy are transmitted, as well as liquid and gaseous substances;
Machinery and equipment, including:

Power machines and equipment;

Working machines and equipment used directly to influence the object of labor or to move it in the process of creating products or providing services;

Measuring and regulating devices;

Computer Engineering;

Other machines and equipment.

· Vehicles designed to transport goods and people;
·Tools of all kinds and fixtures attached to machines;
· Production inventory;
· Household inventory.

The composition of fixed capital does not take into account the means of labor that have not been put into operation, low-value (worth less than 1 thousand rubles) and quick-wearing (with a service life of up to 1 year) tool.

The structure of fixed capital is the share of each of the groups in their total value. Not all groups of fixed capital play the same role in the production process. If buildings and structures provide the conditions for production, then machines and equipment are directly involved in the creation of products. On this basis, fixed capital is divided into active and passive parts.

The active part of the fixed capital is the leading one and serves as the basis for assessing the technical level and production capacity.

The passive part is auxiliary and ensures the operation of active elements.

The prevailing ratio of active and passive elements of the indicators in industry is that in almost all enterprises of material production, with the exception of energy, the share of the active part is lower.

1.2 Sources of formation and use of fixed capital.

To compensate for the cost of fixed capital, a depreciation fund is used, which is formed from depreciation deductions received on the settlement account of an industrial enterprise after the sale of products.

Depreciation is the gradual transfer of the value of fixed capital to manufactured products, services rendered for the purpose of accumulation. Money for further full recovery of fixed capital. Depreciation is calculated using norms that are set as a percentage of the value of fixed capital.

The objectivity of the rate of depreciation depends on the standard service life. If the established norm is overestimated, then physical depreciation occurs before the value of the fixed capital is transferred to finished products.

In theory and practice, there are several types of fixed capital valuation. The initial cost is determined by the acquisition cost (price), transportation and installation costs, for capital construction- the estimated cost of the object put into operation.

The value of a commodity does not depend on the time actually taken to produce it, but on the time it takes to reproduce the commodity in modern conditions. This cost of fixed capital is called the replacement cost.

Color=Cp/(1+P)t

Where Tsp - initial cost, rub.;

P - average annual growth rates of labor productivity;

t - time lag

As a result of a sharp rise in the cost of fixed capital in accordance with the decision of the Government of the Russian Federation of 25.02.1992. "On the revaluation of fixed assets" the initial information for the recalculation is the full book value of fixed assets and the calculation coefficient index.

Conversion factor certain types fixed capital

Capital Acquisition Period	Type of capital
Capital Acquisition Period	Buildings, structures, in front of the device.	Machinery, equipment	Vehicles	Equipment, finding In stock

After01.07.92
Up to VI quarter. 93

Residual value is that part of the cost of fixed capital that is not transferred to finished products as a result of the fact that further use this technique is not economically feasible.

Cst.=Cp-(Cp*On*Tec)=Cp(1-On*Tek)

Where Na is the depreciation rate

Tek - period of operation, years.

Liquidation of cost (Tsl) is the cost of selling dismantled equipment.

When Cl>Cost., losses are credited to the loss, and when evaluating the effectiveness of new equipment, instead of the written off loss, they are added to the cost of the introduced equipment.

Changes in the value of fixed capital are directly related to depreciation. Tools of production eventually wear out and become unsuitable for further operation.

2. Enterprise fixed capital management

2.1. Efficiency of fixed capital use

The efficiency of the use of fixed capital is evaluated by means of general and particular indicators. The most general indicator reflecting the level of use of fixed capital is capital productivity.

There are several methods for calculating it. The most common method - the method of calculating the gross output - is to compare the value of gross output and the average annual and average annual cost of fixed capital.

The method of calculating the return on assets for own products makes it possible to exclude the influence of a change in the share of purchased products and semi-finished products. In spite of positive sides this method, it also does not accurately reflect the level of use of fixed capital. The fact is that society is not interested in the volume of gross or own production, but in the newly created value.

Example. Let's assume that in the base year the gross value reached 400 million rubles, and the material costs amounted to 120 million rubles, of which 40 million rubles. accounted for purchased products and semi-finished products. Thus, the cost of own production amounted to 360 million rubles. With a fixed capital cost of 200 million rubles. return on assets, calculated on gross output, amounted to: Foval = 400/200 = 2 rubles, and on own production Foval = 360/200 = 1.8 rubles.

Suppose that in the reporting year, gross output increased by 1.3 times, and material costs increased to 240 million rubles, of which 120 million rubles. accounted for purchased products and semi-finished products. As a result, the value of gross output increased by 120 million rubles. (400(1.3-1.0)) due to rising prices for materials and purchased products and semi-finished products. The cost of own production has increased to 400 million rubles. Therefore, with the cost of fixed capital at the level of the base year

(Okb=200 million rubles)

FOval.=520/200=2.6 rub.

FSpec.=400/200=2 rub.

When calculating on conditionally net production (CPP), the return on assets would remain unchanged, since CPPbaz. = 400-120 = 280 million rubles;

CHF.=520-280=240 million rubles

Thus, despite the increase in capital productivity calculated on the basis of gross and own production, there was no additional increase in newly created value compared to the base year.

The return on assets calculated for net and conditionally net production can be represented by:

FOchp \u003d CHP / OKsr.g. \u003d (VP- (MZ + OKsr.g.Na)) / OKsr.g.

FEED-PPP/OKsr.y.-(VP-MZ)/OKsr.y.

Where PE - net production;

UCHP - conditionally net production, it differs from net production by the amount of depreciation;

OKavg. - the average annual cost of fixed capital.

When calculating the return on assets for net or conditionally net products, the influence of various material consumption can be eliminated. However, this does not take into account changes in the assortment, the share of products with high profitability, cost and quantity of processed raw materials and materials. Despite this, the methods for calculating the return on assets for net and conditionally net products, as well as profits, are the most used, as they allow you to more clearly and methodologically clearly take into account the influence of various factors and exclude their artificial impact on the efficiency of the use of fixed capital.

The criterion for gross capital productivity is the ratio between the growth rates of gross output and fixed capital. This criterion is determined by the objective law of the economics of social labor.

Private indicators characterize certain aspects of the use of the entire set of fixed capital or some part of it, such as equipment or production space. They can be absolute and relative, natural, conditionally natural, value.

In the process of material production, it is important to improve the use of equipment, i.e. reduction of integral and intra-shift losses of equipment operation time.

The coefficient of holistic use of equipment, or the coefficient of shift Kcm of equipment operation, is defined as the ratio of the actually worked number of stand-shifts per day С to the total number of installed equipment k:

Kcm \u003d (C1 + C2 + C3) / n

The shift coefficient can be planned and actual and is calculated for the enterprise, workshops, groups of equipment for a year, quarter, month, decade, day.

The planned shift ratio takes into account the number of cost-shifts that must be worked out by the equipment for the planned period.

It is known that as equipment ages, the potential for its operating time decreases, i.e. with an increase in the number of years of operation, the annual effective fund of time for a piece of equipment is reduced. An aggregated estimate of the change in the annual time fund shows that for equipment up to 5 years old, the annual effective time fund of a piece of equipment does not change and amounts to 1870 hours, in the range from 6 to 10 years, the annual reduction is 1.5%, in the range from 11 to 15 years - 2.0%, and over 15 years - 2.5%.

For example, for equipment aged 10, 15, 17 years, the annual time fund corresponds to:

Fef(10)=1870(1-(0.015*5))=1730h;

Fef (15) \u003d 1870 (1- (0.015 * 5 + 0.02 * 5)) \u003d 1542 hours;

Fef (17) \u003d 1870 (1- (0.015 * 5 + 0.025 * 2)) \u003d 1450 h.

2.2. The economic essence of the capital intensity of products

AT general view the index of capital intensity of production is the ratio of the average annual cost of fixed capital to the cost of manufactured products. The average annual cost of fixed capital can be calculated in two ways. According to the first method, the input and disposal of fixed capital is timed to the middle of the month:

OKsr.y. \u003d (0.5Okn.y. +? OK + 0.5Okn.y.) / 12

Where OKn.g. - the cost of the main as of 01.01. reporting year

Total value of fixed capital on the 1st day of each month

OKk.g. - cost of fixed capital at the end of the year.

According to the second method, the introduction and disposal of the main method is timed to the end of the analyzed period.

Example: Cost of fixed capital as of 01.01.1994. equal to 50 billion rubles. The value of the introduced fixed capital in July amounted to 30 billion rubles, in September - 10 billion rubles, the cost of liquidated equipment in October - 10 billion rubles. The average annual cost of fixed capital will be according to the first method:

OKaverage year = (0.5*50+50+50+50+50+50+80+80+80+90+80+80+0.5*80)/12=67.083 billion rubles;

By the second method:

OKsr.y.=(50+(30*6*10*3)/12)-(10(18-10)/12)=65.833 billion rubles

The error in the second calculation method was:

OKav.y.=1/12((80-50)/2)=1.25 billion rubles, (i.e. 67.083-65.833)

Capital intensity, calculated per unit cost of production, is used in the analysis of the actual profitability of fixed capital, the study economic efficiency operating production.

The capital intensity of production and capital productivity are indicators by which you can determine the level of use of fixed capital.

Depending on the participation of fixed capital in the output of products, capital intensity is divided into direct, indirect and full.

Direct capital intensity of production - the cost of fixed capital of a particular enterprise.

Indirect - the cost of fixed capital, each functions at other enterprises and indirectly participates in the creation of complex products for a particular enterprise.

Full - this is the total value of direct and indirect capital intensity of products.

2.3. Changes in capital productivity under the influence of various factors

The return on assets depends on a large number of factors: the period of development of newly commissioned production facilities, the shift ratio of equipment, the average cost of installed equipment, the share of the active part of fixed assets, the number of types of products.

Improving the use of fixed production assets can be carried out in two directions:

Increasing production volume
Reducing the average annual cost of fixed production assets.

Example: The value of gross output in the base year was VPbase. - 1000 million rubles, with the average annual cost of fixed production assets of OPF bases. - 800 million rubles In the reporting period, as a result of improved use of fixed production assets, the cost of gross output increased by 1.2 times (tp VP=2)

The increase in capital productivity in the reporting year amounted to:

FOotch. \u003d FObase. (tpVotch.-1) \u003d (1 / 0.08) * (1.2 * 1.0) \u003d 0.25 rubles.

Then the return on assets will be:

FOotch. \u003d FObase. +? FO \u003d (1 / 0.8) + 0.25 \u003d 1.5 rubles.

Changes in return on assets

Indicators	Designation condition.	Base period	Reporting period	Deviation
Indicators	Designation condition.	Base period	Reporting period		Saving
Gross output, million rubles
Main Products
The average annual cost of the main production funds, mln. rub.
Average annual cost of the active part
Production capacity, million rubles

Calculate the return on assets of the reporting and base periods:

Fbase.=(VPbase/OPFbase.)(OPFbase./PMbase)(PMbase./OPFp.)*

*(OPFp./OPF)=(1000/800)(800/1040)(1040/360)(360/800)=

1.25 * 0.77 * 2.9 * 0.45 \u003d 1.25 rubles.

FOotch.=(1200/758.2)(758.2/1100)(1100/318.2)(318.2/758.2)=

1.58 * 0.69 * 3.46 * 0.42 \u003d 1.57 rubles.

Thus, in comparison with the base period, the return on assets increased by 33 kopecks. (1.58-1.25). The growth of capital productivity was influenced by:

a) improving the use of fixed production assets:

Fou \u003d (Fpotch. / OPFbaz.) - (VPbaz. / OPFbaz.) \u003d

=(1200/850)-(1000/800)=0,25

b) improving the use of production capacities:

FOmp \u003d (PMotch. / OPFbase.) - (PMbas. / OPFbase.) \u003d

=(1100/800)-(1040/800)=0,08

The increase in capital productivity was ensured by improving the use of fixed production assets (0.25 rubles) and production capacities (0.08 / FOotch. = FObaz. + AFOu +

Fopm \u003d 1U25 + 0.25 + 0.08 \u003d 1.58

In the most detailed analysis, the influence of various factors can be determined by the formula:

FD \u003d (VP / VPosn.) (VPosn. / PM) (PM / OPFl) (OPFl / OPF).

2.4 Analysis of the level of use of fixed capital

Analysis of the level of fixed capital - one of the types of analysis of the production resource. The level of use of the fleet of the main technological equipment characterized by general and particular indicators.

The technical condition of the PTO is determined by technical and economic indicators. The most common is the average age of POTO:

Tav.=(t1n1+t2n2+...+tini)/(n1+n2+...+ni)=?(ti+ni)/ ?ni

Where ti - i is the age of the piece of equipment;

ni is the number of equipment with the i-th age;

m - the number of age groups.

For example: as the main technological equipment in the amount of n=10 units. distributed by age as follows: t8=2 units; t10=5 units; t15=3 units

Then Тav.=(8*2+10*5+15*3)/(2+3+5)=11 years.

With an increase in the age of a piece of equipment, the time of its effective operation is reduced as a result of an increase in the time to restore efficiency. So for a unit of equipment operating in one shift, up to 5 years old inclusive, the annual effective time fund is Ф05=2079(1-0.1)=1870 hours.

where 0.1 is the share of time for scheduled repairs.

The write-off of excess equipment has an impact on the growth of production efficiency, since as a result of writing off the balance sheet of an industrial enterprise, the cost of this equipment and an increase in profits by the amount of depreciation deductions for decommissioned equipment, the specific profit attributable to 1 ruble of production assets increases.

Meanwhile, in order to plan the operation of the existing equipment fleet, it is important to know the possibilities of its use not only by shifts, but also within the shift. The lower the intra-shift losses, the greater the potential use of equipment for shifts.

The real reserve of intra-shift operating time of the equipment reflects the amount of downtime:

Frvk \u003d Fe (t) (Kzpl-Kef) (1-apt) n,

where Kzpl, Kef are the planned and actual load factors, respectively.

The actual load factor shows the proportion of the time required to produce a certain amount of output in the total operating time of the equipment used to produce this product.

Kef \u003d? SiAi / Fe (t) Krnj,

where: Si - unit cost of the i-th product name, manufactured with j-th group equipment;

Qi - annual volume of production of products of the i-th item;

m - number of product names;

Ф(e)t - annual effective time fund of a piece of equipment for t-th age equipment groups;

Kp - mode of operation of an industrial enterprise;

nj - quantity j-th equipment groups.

Park of the main technological equipment in the amount of nj=20 units. at age t=7 years, annual fund of time of a piece of equipment for one shift Fe(7)=1760h. and planned load factor Kzpl. - 0.85

To determine the reserve of intra-shift time of equipment, the data given in the table are used.

The annual effective time fund is:

Fe \u003d Fe (t) Kr * nj \u003d 1760 * 1.0 * 2.0 \u003d 35200 h.

Initial data for calculating the intra-shift time reserve

Name of production	Product cost intensity (SEi) h.	Annual volume (Q) years	The cost of the annual program. SEpr, h

actual load factor:

KeF=SEpr/Fe=23500/35200=0.67

Thus, the intra-shift time reserve of the equipment fleet will be:

Fr \u003d Fe (t) (Kzpl-Kef) nj \u003d 1760 (0.85-0.67) * 20 \u003d 6336,

or 27% of the annual requirement.

The annual increase in gross profit may increase by?pval.=Pud. ?Fr=10000*6337=63.3 million rubles

Conclusion.

The functioning of enterprises in a market environment offers the search and development of each of them their own way of development. In other words, in order not only to stay, but also to develop in the market, an enterprise must improve the state of its economy; always have an optimal ratio between costs and production results; seek new forms of capital investment, find new, more effective ways bring products to the buyer, conduct an appropriate product policy, etc. This must be combined with the full use of internal factors in the development of production, which are quite numerous in their content and purpose.

Conventionally, they can be divided into three groups:

Factors of resource support of production; these include factors of production, i.e. everything without which the production of products, the provision of services in the quantity and quality required by the market is unthinkable.
Factors that ensure the desired level of economic and technical development enterprises.
Factors that ensure the commercial efficiency of production economic activity enterprises.

There is no strictly limited boundary between these groups. For example, most of the means of production is not only a necessary condition for the production of goods and services, but also determines its technical level.

Bibliography:

"Finance, money turnover, credit", edited by prof. Drobozina L.N., M., UNITI, 1997.
"Finance" ed. Doctor of Economics, prof. Kovaleva A.P., M., "Finance and statistics", 1997.
"Economics of an industrial enterprise" ed. prof. Radionova V.M., M., "Finance and statistics", 1995.
"Finance" ed. prof. Radionova V.M., M., "Financial statistics", 1995.

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Introduction

The gradual transition from a centrally planned economic system to a market one raises the question of how the enterprise's economy should be managed in a new way. Traditional structures and ways are changing. At present, the leaders of the enterprise, studying and shaping what is called civilized forms of market relations, become a kind of "architects" for the development of new economic relations and methods of conducting the enterprise's economy.

Market conditions constantly raise questions that need to be addressed. The success of an enterprise is determined both by the general conditions of management and the ability of the manager to effectively use production factors.

Long-term world experience confirms that market relations cannot objectively develop without the participation of the state.

The development of market relations as a self-regulatory system is limited and subject to contradictions, so the state must regulate this process in order to mitigate social contradictions and influence the economy with the accelerated development of priority sectors using financial and economic levers, i.e. through public investment, soft loans, subsidies, etc.

1 . Kafed: concepts, types, artstructures, sources of formation

1.1 Sobecoming fixed capital

As you know, the basis of any production process is human labor, which presupposes the availability of means and objects of labor as a necessary condition for its activity. Together, all these three elements constitute the productive forces of society. In the process of production, knowledge of the means and objects of labor is not the same. The decisive role belongs to the means of labor, i.e. the totality of material means by which the worker affects the object of labor, changing its physical and chemical properties.

The fixed capital of an industrial enterprise includes the means of labor, which repeatedly participate in the production process. Gradually wearing out, they transfer their value to the created product in parts over a number of years in the form of depreciation.

According to its economic content, fixed capital is homogeneous. At the same time, it differs in terms of production and technical content, the role of production and the period of reproduction.

The theoretical basis for the classification of fixed capital by type is the division of labor instruments proposed by K. Marx, depending on their role in production. Of all the means of labor, the leading group is mechanical means that characterize the technical equipment of production and the production capacity of an industrial enterprise. K. Marx refers to the second group the means of labor "necessary in general in order for the process to be carried out."

Currently, in accordance with the standard classification, the fixed capital of an industrial enterprise is divided into the following groups depending on the homogeneity of the production purpose and natural-material characteristics:

Buildings - architectural and construction objects designed to perform certain technical functions;

Structures;

Transfer devices - devices with the help of which various types of energy are transmitted, as well as liquid and gaseous substances;

Machinery and equipment, including:

power machines and equipment;

working machines and equipment used directly to influence the object of labor or to move it in the process of creating products or providing services;

measuring and control devices;

Computer Engineering;

other machines and equipment.

Vehicles designed to transport goods and people;

Tools of all kinds and fixtures attached to machines;

Production inventory;

Household inventory.

The composition of fixed capital does not take into account the means of labor that are not put into operation, low-value and quickly wearing out (with a service life of up to 1 year) tool.

The active part of the fixed capital is the leading one and serves as the basis for assessing the technical level and production capacity.

The passive part is auxiliary and ensures the operation of active elements.

1.2 Issources of formation and use of fixed capital

Depreciation is a gradual transfer of the value of fixed capital to manufactured products, services rendered in order to accumulate funds for the further full restoration of fixed capital. Depreciation is calculated using norms that are set as a percentage of the value of fixed capital.

The objectivity of the rate of depreciation depends on the standard service life. If the established norm is overestimated, then physical wear and tear occurs before the value of fixed capital is transferred to finished products.

In theory and practice, there are several types of fixed capital valuation. The initial cost is determined by the acquisition cost (price), transportation and installation costs, for capital construction - the estimated cost of the facility put into operation.

The value of a commodity does not depend on the time that is actually spent on its production, but on the time that is necessary for the reproduction of the commodity in modern conditions. This cost of fixed capital is called the replacement cost.

Residual value - this is that part of the cost of fixed capital that is not transferred to finished products as a result of the fact that the further use of this technique is not economically feasible.

Liquidation of cost (Tsl) is the cost of selling dismantled equipment. With Tsltst., losses are credited to the loss, and when evaluating the effectiveness of new equipment, instead of the written off loss, they are added to the cost of the introduced equipment.

Changes in the value of fixed capital are directly related to depreciation. Tools of production eventually wear out and become unsuitable for further operation.

2. Enterprise fixed capital management

2.1 Efficiency in the use of fixed capital

The efficiency of the use of fixed capital is evaluated by means of general and particular indicators. The most general indicator reflecting the level of use of fixed capital is capital productivity.

The method of calculating the return on assets for own products makes it possible to exclude the influence of a change in the share of purchased products and semi-finished products. Despite the positive aspects of this method, it also does not accurately reflect the level of use of fixed capital. The fact is that society is not interested in the volume of gross or own production, but in the newly created value.

When calculating the return on assets for net or conditionally net products, the influence of various material consumption can be eliminated. However, this does not take into account changes in the assortment, the share of products with high profitability, the cost and quantity of processed raw materials and materials. Despite this, the methods for calculating the return on assets for net and conditionally net products, as well as profits, are the most used, as they allow you to more clearly and methodologically clearly take into account the influence of various factors and exclude their artificial impact on the efficiency of the use of fixed capital.

In the process of material production, it is important to improve the use of equipment, i.e. reduction of integral and intra-shift losses of equipment operation time.

Conclusion

The functioning of enterprises in a market environment offers the search and development of each of them their own way of development. In other words, in order not only to stay, but also to develop in the market, an enterprise must improve the state of its economy; always have an optimal ratio between costs and production results; find new forms of capital investment, find new, more effective ways to bring products to the buyer, pursue an appropriate product policy, etc. This must be combined with the full use of internal factors in the development of production, which are quite numerous in their content and purpose.

Conventionally, they can be divided into three groups:

Factors of resource support of production; these include factors of production, i.e. everything without which the production of products, the provision of services in the quantity and quality required by the market is unthinkable.

Factors that ensure the desired level of economic and technical development of the enterprise.

Factors that ensure the commercial efficiency of the production and economic activities of the enterprise.

capital core management efficiency

Bibliography

"Finance, monetary circulation, credit", ed. prof. Drobozina L.N., M., UNITI, 1997

Finance, ed. Doctor of Economics, prof. Kovaleva A.P., M., "Finance and statistics", 1997

"Economics of an industrial enterprise" ed. prof. Radionova V.M., M., "Finance and statistics", 1995

Finance, ed. prof. Radionova V.M., M., "Financial statistics", 1995

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Monetary valuation of fixed assets. Types of accounting and methods for assessing fixed capital, indicators of its use. Analysis of the advantages of a linear organizational structure. Analysis of the efficiency and intensity of the use of fixed capital of the enterprise.

term paper, added 11/27/2012

Determination of the essence, the study of the structure and the study of the methodological foundations of managing the working capital of an enterprise. Comprehensive analysis of the working capital management process at ATZ OJSC. Measures to improve the efficiency of working capital management.

COURSE WORK

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Introduction
	Enterprise fixed capital management: goals and content
		Composition of fixed capital
		Sources of formation and use of fixed capital
	Fixed capital management
		Efficiency of fixed capital use
		The economic essence of the capital intensity of products
		Changes in capital intensity under the influence of various factors
		Analysis of the level of use of fixed capital
Conclusion
List of used literature

Introduction.

Russia's gradual transition from a centrally planned economic system to a market one in a new way raises the question of how the enterprise's economy should be managed. Traditional structures and ways are changing. At present, the leaders of the enterprise, studying and shaping what is called civilized forms of market relations, are becoming a kind of "architects" for the development of new economic relations and methods of conducting the enterprise's economy.

Long-term world experience confirms that market relations cannot objectively develop without the participation of the state. The development of market relations as a self-regulatory system is limited and subject to contradictions, so the state must regulate this process in order to mitigate social contradictions and influence the economy with the accelerated development of priority sectors with the help of financial and economic levers, i.e. through public investment, soft loans, subsidies etc.

1. Capital: concepts, types, structures, sources of formation.

1.1 Composition of fixed capital

As you know, the basis of any production process is human labor, which presupposes the availability of means and objects of labor as a necessary condition for its activity. Together, all these three elements constitute the productive forces of society. In the process of production, knowledge of the means and objects of labor is not the same. The decisive role belongs to the means of labor, that is, the totality of material means by which the worker influences the object of labor, changing its physical and chemical properties.

According to its economic content, fixed capital is homogeneous. At the same time, it differs in terms of production and technical content, the role of production and the period of reproduction. The theoretical basis for the classification of fixed capital by type is the division of labor instruments proposed by K. Marx, depending on their role in production. Of all the means of labor, the leading group is mechanical means that characterize the technical equipment of production and the production capacity of an industrial enterprise. K. Marx refers to the second group the means of labor "necessary in general in order for the process to be carried out."

Buildings - architectural and construction objects designed to perform certain technical functions;

· Structures;

· Transfer devices - devices with the help of which various types of energy are transmitted, as well as liquid and gaseous substances;

Machinery and equipment, including:

Power machines and equipment;

Working machines and equipment used directly to influence the object of labor or to move it in the process of creating products or providing services;

Measuring and regulating devices;

Computer Engineering;

Other machines and equipment.

· Vehicles designed to transport goods and people;

·Tools of all kinds and fixtures attached to machines;

· Production inventory;

· Household inventory.

The active part of the fixed capital is the leading one and serves as the basis for assessing the technical level and production capacity.

The passive part is auxiliary and ensures the operation of active elements.

1.2 Sources of formation and use of fixed capital.

The objectivity of the rate of depreciation depends on the standard service life. If the established standard is overestimated, then physical wear and tear occurs before the value of fixed capital is transferred to finished products.

In theory and practice, there are several types of fixed capital valuation. The initial cost is determined by the acquisition cost (price), transportation and installation costs, for capital construction - the estimated cost of the facility put into operation.

Color=Cp/(1+P)t

Where Tsp - initial cost, rub.;

P - average annual growth rates of labor productivity;

t - time lag

As a result of a sharp rise in the cost of fixed capital in accordance with the decision of the Government of the Russian Federation of 01.01.2001. "On the revaluation of fixed assets" the initial information for the recalculation is the full book value of fixed assets and the calculation coefficient index.

Conversion factor for certain types of fixed capital

Capital Acquisition Period	Type of capital
Buildings, structures, in front of the device.	Machinery, equipment	Vehicles	Equipment, finding In stock

After01.07.92
Up to VI quarter. 93

Cst.=Cp-(Cp*On*Tec)=Cp(1-On*Tek)

Where Na is the depreciation rate

Tek - period of operation, years.

Liquidation of cost (Tsl) is the cost of selling dismantled equipment.

When Cl>Cost., losses are credited to the loss, and when evaluating the effectiveness of new equipment, instead of the written off loss, they are added to the cost of the introduced equipment.

Changes in the value of fixed capital are directly related to depreciation. Tools of production eventually wear out and become unsuitable for further operation.

2. Enterprise fixed capital management

2.1. Efficiency of fixed capital use

The efficiency of the use of fixed capital is evaluated by means of general and particular indicators. The most general indicator reflecting the level of use of fixed capital is capital productivity.

The method of calculating the return on assets for own products makes it possible to exclude the influence of a change in the share of purchased products and semi-finished products. Despite the positive aspects of this method, it also does not accurately reflect the level of use of fixed capital. The fact is that society is not interested in the volume of gross or own production, but in the newly created value.

Example. Let us assume that in the base year the gross value reached 400 million rubles, and the material costs amounted to 120 million rubles, of which 40 million rubles. accounted for purchased products and semi-finished products. Thus, the cost of own production amounted to 360 million rubles. With a fixed capital cost of 200 million rubles. return on assets, calculated on gross output, amounted to: Foval = 400/200 = 2 rubles, and on own production Foval = 360/200 = 1.8 rubles.

Suppose that in the reporting year, gross output increased by 1.3 times, and material costs increased to 240 million rubles, of which 120 million rubles. accounted for purchased products and semi-finished products. As a result, the value of gross output increased by 120 million rubles. (400(1.3-1.0)) due to rising prices for materials and purchased products and semi-finished products. The cost of own production increased to 400 million rubles. Therefore, with the cost of fixed capital at the level of the base year

(Ob=200 million rubles)

FOval.=520/200=2.6 rub.

FSpec.=400/200=2 rub.

When calculating the conditionally net production (CPP), the return on assets would remain unchanged, since the CCPbase = 400-120 = 280 million rubles;

UCH.=520-280=240 million rubles.

Thus, despite the increase in capital productivity calculated on the basis of gross and own production, there was no additional increase in newly created value compared to the base year.

The return on assets calculated for net and conditionally net production can be represented by:

FOchp \u003d PE / OKav. g. \u003d (VP-(MZ + OKav. g.Na)) / OKav. G.

FOV-PPP/Qav. g.-(VP-MZ) / OKsr. G.

Where PE - net production;

UCHP - conditionally net production, it differs from net production by the amount of depreciation;

OKav. g. - the average annual cost of fixed capital.

When calculating the return on assets for net or conditionally net products, the influence of various material consumption can be eliminated. However, this does not take into account changes in the assortment, the share of products with high profitability, the cost and quantity of processed raw materials and materials. Despite this, the methods for calculating the return on assets for net and conditionally net products, as well as profits, are the most used, as they allow you to more clearly and methodologically clearly take into account the influence of various factors and exclude their artificial impact on the efficiency of the use of fixed capital.

In the process of material production, it is important to improve the use of equipment, i.e., to reduce the integral and intra-shift losses of equipment operation time.

Kcm \u003d (C1 + C2 + C3) / n

The shift coefficient can be planned and actual and is calculated for the enterprise, workshops, groups of equipment for a year, quarter, month, decade, day.

The planned shift ratio takes into account the number of cost-shifts that must be worked out by the equipment for the planned period.

It is known that as equipment ages, the potential for its operation time decreases, i.e., with an increase in the number of years of operation, the annual effective fund of time for a piece of equipment decreases. An aggregated estimate of the change in the annual time fund shows that for equipment up to 5 years old, the annual effective time fund of a piece of equipment does not change and amounts to 1870 hours, in the range from 6 to 10 years, the annual reduction is 1.5%, in the range from 11 to 15 years - 2.0%, and over 15 years - 2.5%.

For example, for equipment aged 10, 15, 17 years, the annual time fund corresponds to:

Fef(10)=1870(1-(0.015*5))=1730h;

Fef (15) \u003d 1870 (1- (0.015 * 5 + 0.02 * 5)) \u003d 1542 hours;

Fef (17) \u003d 1870 (1- (0.015 * 5 + 0.025 * 2)) \u003d 1450 h.

2.2. The economic essence of the capital intensity of products

In general, the indicator of capital intensity of production is the ratio of the average annual cost of fixed capital to the cost of manufactured products. The average annual cost of fixed capital can be calculated by two methods. According to the first method, the input and disposal of fixed capital is timed to the middle of the month:

OKav. yr=(0.5Window yr+åOK+0.5 Window yr)/12

Where is ok. g. - the cost of the main as of 01.01. reporting year

å - total cost of fixed capital on the 1st day of each month

OKk. g. - the cost of fixed capital at the end of the year.

According to the second method, the introduction and disposal of the main method is timed to the end of the analyzed period.

OKav. g.=(0.5*50+50+50+50+50+50+80+80+80+90+80+80+0.5*80)/12=67.083 billion rubles

By the second method:

OKav. r.=(50+(30*6*10*3)/12)-(10(18-10)/12)=65.833 billion rubles

The error in the second calculation method was:

OKav. r.=1/12((80-50)/2)=1.25 billion rubles, (i.e. 67.083-65.833)

Capital intensity, calculated per unit cost of production, is used in the analysis of the actual profitability of fixed capital, the study of the economic efficiency of existing production.

The capital intensity of production and capital productivity are indicators by which you can determine the level of use of fixed capital.

Depending on the participation of fixed capital in the output of products, capital intensity is divided into direct, indirect and full.

Direct capital intensity of production - the cost of fixed capital of a particular enterprise.

Indirect - the cost of fixed capital, each functions at other enterprises and indirectly participates in the creation of complex products for a particular enterprise.

Full - this is the total value of direct and indirect capital intensity of products.

2.3. Changes in capital productivity under the influence of various factors

The return on assets depends on a large number of factors: the period of development of newly commissioned production capacities, the shift ratio of equipment, the average cost of installed equipment, the share of the active part of fixed production assets, the number of types of products.

Improving the use of fixed production assets can be carried out in two directions:

1. Increasing production volume

2. Reducing the average annual cost of fixed assets.

Example: The value of gross output in the base year was VPbazmln. rub., with the average annual cost of fixed assets OPFbazmln. rub. In the reporting period, as a result of improved use of fixed production assets, the cost of gross output increased by 1.2 times (tp VP=2)

The increase in capital productivity in the reporting year amounted to:

СFOotch. \u003d FObase. (tpVFotch.-1) \u003d (1 / 0.08) * (1.2 * 1.0) \u003d 0.25 rubles.

Then the return on assets will be:

FOotch.=FObase.+ÑFO=(1/0.8)+0.25=1.5 rub.

Changes in return on assets

Indicators	Designation condition.	Base period	Reporting period	Deviation
	Saving
Gross output, million rubles
Main Products
The average annual cost of the main production funds, mln. rub.
Average annual cost of the active part
Production capacity, million rubles

Calculate the return on assets of the reporting and base periods:

Fbase.=(VPbase/OPFbase.)(OPFbase./PMbase)(PMbase./OPFp.)*

*(OPFp./OPF)=(1000/800)(800/1040)(1040/360)(360/800)=

1.25 * 0.77 * 2.9 * 0.45 \u003d 1.25 rubles.

FOotch.=(1200/758.2)(758.2/1100)(1100/318.2)(318.2/758.2)=

1.58 * 0.69 * 3.46 * 0.42 \u003d 1.57 rubles.

Thus, in comparison with the base period, the return on assets increased by 33 kopecks. (1.58-1.25). The growth of capital productivity was influenced by:

a) improving the use of fixed production assets:

СFOу=(Fpotch./OPFbase.)-(VPbase./OPFbase.)=

=(1200/850)-(1000/800)=0,25

b) improving the use of production capacities:

СFOmp=(PMotch./OPFbase.)-(PMbase./OPFbase.)=

=(1100/800)-(1040/800)=0,08

The increase in capital productivity was ensured by improving the use of fixed production assets (0.25 rubles) and production capacities (0.08 / FOotch. = FObaz. + AFOu +

+ÑFOpm=1U25+0.25+0.08=1.58

In the most detailed analysis, the influence of various factors can be determined by the formula:

FD \u003d (VP / VPosn.) (VPosn. / PM) (PM / OPFl) (OPFl / OPF).

2.4 Analysis of the level of use of fixed capital

Analysis of the level of fixed capital - one of the types of analysis of the production resource. The level of use of the fleet of the main technological equipment is characterized by general and particular indicators.

The technical condition of the PTO is determined by technical and economic indicators. The most common is the average age of POTO:

Tav.=(t1n1+t2n2+...+tini)/(n1+n2+...+ni)=å(ti+ni)/ åni

Where ti - i is the age of the piece of equipment;

ni is the number of equipment with the i-th age;

m - the number of age groups.

For example: as the main technological equipment in the amount of n=10 units. distributed by age as follows: t8=2 units; t10=5 units; t15=3 units

Then Тav.=(8*2+10*5+15*3)/(2+3+5)=11 years.

where 0.1 is the share of time for scheduled repairs.

The real reserve of intra-shift operating time of the equipment reflects the amount of downtime:

СFrvk=Fe(t)(Kzpl-Kef)(1-apt)n,

where Kzpl, Kef are the planned and actual load factors, respectively.

The actual load factor shows the proportion of the time required to produce a certain amount of output in the total operating time of the equipment used to produce this product.

Kef \u003d åSiAi / Fe (t) Krnj,

where: Si - unit cost of the i-th product name, produced from the j-th group of equipment;

Qi - annual volume of production of products of the i-th item;

m - number of product names;

Ф(e)t - annual effective time fund of a piece of equipment for the t-th age group equipment;

Kp - mode of operation of an industrial enterprise;

nj is the amount of equipment of the j-th group.

Park of the main technological equipment in the amount of nj=20 units. at age t=7 years, annual fund of time of a piece of equipment for one shift Fe(7)=1760h. and planned load factor Kzpl. - 0.85

To determine the reserve of intra-shift time of equipment, the data given in the table are used.

The annual effective time fund is:

Fe \u003d Fe (t) Kr * nj \u003d 1760 * 1.0 * 2.0 \u003d 35200 h.

Initial data for calculating the intra-shift time reserve

Name of production	Product cost intensity (SEi) h.	Annual volume (Q) years	The cost of the annual program. SEpr, h.

actual load factor:

KeF=SEpr/Fe=23500/35200=0.67

Thus, the intra-shift time reserve of the equipment fleet will be:

ÑFr \u003d Fe (t) (Kzpl-Kef) nj \u003d 1760 (0.85-0.67) * 20 \u003d 6336,

or 27% of the annual requirement.

Conclusion.

The functioning of enterprises in a market environment offers the search and development of each of them their own way of development. In other words, in order not only to stay, but also to develop in the market, an enterprise must improve the state of its economy; always have an optimal ratio between costs and production results; find new forms of investment of capital, find new, more effective ways to bring products to the buyer, pursue an appropriate commodity policy, etc. This must be combined with the full use of internal factors in the development of production, which are quite numerous in their content and purpose.

Conventionally, they can be divided into three groups:

1. Factors of resource support for production; these include factors of production, i.e., everything without which the production of products, the provision of services in the quantity and quality required by the market, is unthinkable.

2. Factors that ensure the desired level of economic and technical development of the enterprise.

3. Factors that ensure the commercial efficiency of the production and economic activities of the enterprise.

Bibliography:

2. "Finance", ed. Doctor of Economics, prof. , M., "Finance and statistics", 1997.

3. "Economics of an industrial enterprise", ed. prof. , M., "Finance and statistics", 1995

4. "Finance", ed. prof. , M., "Financial statistics", 1995

The article discusses the current state and problems of fixed capital management in Russian enterprises, offers possible ways solutions to identified problems. The author notes that despite the large number of studies devoted to this issue, such management functions as analysis and planning are not implemented in practice. regulation of fixed capital. The depreciation fund is not used as the main source of financial resources for the reproduction of fixed capital, its formation is of a formal nature. This leads to the fact that the percentage of depreciation of fixed assets at Russian enterprises is very high. Modernization and economic growth are impossible without constant renewal of fixed assets. The article substantiates the need to develop a state policy focused on ensuring the targeted nature of the use of depreciation funds of enterprises, as well as amending the regulatory documents governing accounting and tax accounting. It is recommended that enterprises form their own depreciation fund in the form of long-term financial investments through depreciation charges.

fixed capital management

sinking fund

1. Abakumov R.G. Depreciation Policy: Essence, Problems, Directions for Improvement // Finance and Credit. - 2010. - No. 47 (335). – P. 55–59.

2. Burmistrova L.M. Finance of organizations (enterprises): textbook. allowance. – M.: INF RA-M, 2012. – 240 p.

3. Gilyarovskaya L.T. Complex economic analysis economic activity. – M.: Prospekt, 2013. – 360 p.

4. Ivasenko A.G. Finance of organizations (enterprises): textbook. allowance / A.G. Ivasenko, Ya.I. Nikonov. - 2nd ed., erased. – M.: KNORUS, 2012. – 208 p.

5. Kirichenko T.V. Financial management: textbook. – M.: Dashkov i Ko, 2011. – 484 p.

6. Pankova S.V., Tuyakova Z.S. Conceptual approaches to value measurement in capital circulation accounting (article) // Finance and credit. - 2007. - No. 5. - P. 13–20, p. nineteen.

7. Rozov D.V. Evolutionary development of the theory of fixed capital // Finance and credit. - 2012. - No. 8 (248). - S. 52-73.

8. Russian statistical yearbook. 2012: Statistical collection / Rosstat. - M., 2012. - 786 p.

In the context of the need for Russia to switch to the path of innovative development, one of the main problems at Russian enterprises is the high degree of physical and moral depreciation of fixed assets, which is one of the main deterrents to economic growth. The reason for this situation is, in our opinion, the inefficient management of fixed capital in general and, first of all, the use of outdated approaches to the organization of its reproduction.

Theoretical and methodological provisions in the field of fixed capital management, its formation and effective use contain works by such authors as M.S. Abryutina, A.P. Aksenov, I.A. Blank, A.G. Ivasenko, N.B. Klishevich, A.M. Kovaleva, N.V. Kolchina, M.G. Lapusta, G.B. Polyak, D.V. Rozov, I.B. Romashova, E.I. Shokhin and many others.

As rightly noted by D.V. Rozov, fixed capital plays a crucial role in all spheres of the economy, actively participates in modern transformations of the global economy, affecting the economic and political environment, as well as the technological level and organizational structure.

As a result of comparing the views of such authors as L.M. Burmistrova, L.T. Gilyarovskaya ., A.G. Ivasenko, T.V. Kirichenko, we came to the conclusion that fixed capital should be considered as part of the financial resources of an enterprise invested in all types of non-current assets used to carry out production and economic activities for profit.

Like any management process, fixed capital management should be considered as a set of interrelated management functions: analysis, planning, control, organization, accounting, control, regulation. The efficiency of managing the fixed capital of an enterprise is determined, in our opinion, both by the completeness of the implementation of each of these functions, and by the understanding of the dual nature of this activity, namely: the organization of the process of forming fixed capital and the choice of directions for its use.

At the time of the establishment of the enterprise, the formation of fixed capital occurs mainly at the expense of the founders' own funds, however, in the future, due to the fact that fixed assets are subject to physical and moral deterioration, it becomes necessary to reproduce them. From the point of view of the theory of fixed capital management, as well as accounting methodology, one of the main ones should be the own sources of replenishing the fixed capital of enterprises and, first of all, depreciation. However, in practice, this source of financial resources does not play the important role that should be assigned to it.

In economically developed countries, the amount of depreciation deductions exceeds the amount of actual depreciation, which creates real conditions for private investment. The higher the depreciation rate (the rate of transferring the value of depreciable assets to finished products) and the larger the amount of depreciation deductions, the greater the tax-free profit (since depreciation deductions are included in the cost of manufactured products) and the wider the company's ability to finance its activities in terms of replacing the main capital.

Depreciation charges should be accumulated in the depreciation fund, the value of which can be determined from accounting data. The economic nature of this source of reproduction of fixed capital implies not only a reasonable mechanism for its formation, but also a strictly targeted nature of use. Currently, enterprises independently manage the funds of this fund and often use the amount of depreciation deductions not only to finance the replacement of worn-out fixed assets, but also to replenish working capital, which contradicts the economic essence of depreciation.

Discrepancies in the tax and accounting procedures and methods for calculating depreciation are also the reason for the low efficiency of the depreciation policy pursued by enterprises. We believe that under the current conditions, only changes in the regulation of the depreciation mechanism for state level allow depreciation to become an effective source of modernization of Russian enterprises and increase the pace of economic development.

We conducted a study of the current state of fixed capital management at one of the enterprises in the city of Chelyabinsk, the main activity of which is the implementation of construction and installation works. Non-current assets of the studied economic entity are represented only by fixed assets, therefore, fixed capital management is reduced to control over the availability of fixed assets necessary for the implementation of activities and their timely renewal.

The process of fixed capital management is manifested in the fact that accounting records the movement of fixed assets and sources of their reproduction, and economic department controls the availability of the necessary fixed assets for the normal functioning of the enterprise. However, such management functions as analysis, planning, regulation of fixed capital in the activities of the company under study are absent. A similar situation is typical for many small and medium-sized enterprises.

In order to assess the technical condition of fixed assets, we calculated the wear and tear coefficients. The calculation results are given in Table. one.

Table 1

The results of the calculation of indicators of the technical condition of fixed assets in 2010-2012.

The trend towards obsolescence of fixed assets is typical for the construction industry as a whole, since on average Russian Federation Depreciation of fixed assets in 2011 reached 49 percent.

At the enterprise under study, both for accounting and tax accounting depreciation is accrued on a straight-line basis, while the reporting does not contain data on the formation and use of the depreciation fund.

Since depreciation charges are not directed to a specialized fund or deposited in a separate account, their management consists in determining the useful life of an item of fixed assets and choosing a depreciation method. Thus, in the company under study, the depreciation fund is formed only as a calculated indicator, that is, depreciation is charged for all depreciable property, the amount of accrued depreciation is taken into account as part of the costs, but the depreciation fund as a target reserve of funds intended for the restoration of fixed assets is not created. We believe that this situation is typical for many Russian enterprises due to the lack of understanding by management of the economic role of the depreciation fund, the mechanism for its formation and use, and is aggravated by the lack of normative documents, which would oblige the management of economic entities to use depreciation charges strictly for their intended purpose.

Modernization and economic growth are impossible without constant renewal of fixed assets, and for this, sources of reproduction of fixed capital must be available. At the same time, at the macroeconomic level, depreciation deductions of enterprises are not considered as one of the main sources for ensuring the reproduction of fixed capital. Thus, the main problem is the lack of a state-regulated mechanism for the formation and targeted use of depreciation funds. Despite the presence of the principle of economic independence and self-financing as key in the organization of finance commercial organizations in conditions market economy, we believe that the state should develop a specific policy in the field of reproduction of fixed capital.

The problem is the imperfection of the fixed assets depreciation accounting system, which does not allow obtaining complete and reliable information for making management decisions regarding the reproduction of fixed capital.

Currently, for registration and generalization of information on depreciation accumulated during the operation of fixed assets, business entities use account 02 “Depreciation of fixed assets”. We believe that this approach does not allow the formation of an information base on the basis of which interested users are able to draw the right conclusions and make informed management decisions on the use of depreciation charges as a permanent source of financing the costs of reproduction of fixed assets.

The next major problem is the lack of the current system reproduction of the mechanism for compensating inevitable losses due to the great complexity of control objects and the duration of the process of their use. In the process of reproduction, losses of depreciation resources inevitably arise due to inflation, premature failure of facilities, and misuse of the depreciation fund. If the losses arising over the entire period of depreciation are not compensated, then the result is not simple or expanded, but narrowed reproduction.

Another problem identified during the study is that borrowed funds are often perceived as the main source of replenishment of fixed capital. At the same time, it should be noted that in the conditions of an insufficient volume of own sources of financial resources, the attraction of borrowed capital jeopardizes financial stability business entities.

To solve the identified problems, we consider it necessary to introduce a special off-balance account "Amortization Fund", which should take into account depreciation charges accrued monthly, as well as their use during the entire period of depreciation of specific objects. This will allow the organization not to lose depreciation deductions for decommissioned fixed assets in the information flow.

The procedure for the formation and use of an amortization fund should be regulated by normative acts that are uniform for all economic entities.

In our opinion, under the current conditions for the Russian economy, the following areas of improvement are the most acceptable: state regulation depreciation policy:

1. Eliminate contradictions between the rules of tax and accounting.

2. Provide for an "investment benefit" that would exempt from taxation 50-100% of profits allocated to finance capital investments.

3. Introduce a property tax exemption for newly commissioned equipment.

4. Introduce special investment accounts in banks for the accumulation of depreciation funds with their transfer to trust management.

5. Develop measures aimed at strengthening state control over the targeted use of depreciation funds.

The proposed measures will help restore the reproduction function of depreciation, and help the depreciation fund become an effective tool for financing the reproduction of fixed capital.

One of the directions available for business entities to improve the management of fixed capital of an enterprise is the creation of a depreciation fund in the form of long-term financial investments, which will allow, by the end of the useful life of fixed assets, to accumulate the amount necessary to replace obsolete equipment. To ensure expanded reproduction, it is necessary to introduce a standard of profit deducted to the accumulation fund, with the subsequent deposit of these funds in a separate bank account.

We will calculate the economic effect from the implementation of this recommendation using the following example. The company plans to purchase a stone-cutting machine Manta-850 ED worth 167,912 rubles, with a useful life of five years. In table. 2 shows the calculation of depreciation charges calculated by different methods.

table 2

Depreciation deductions when using various methods depreciation of the stone-cutting machine in 2014−2018

To assess the impact of inflation on depreciation charges, we used the inflation values in Russia for 2014-2018, forecasted by the Ministry of economic development. According to this forecast, conservative, innovative and forced options for economic development are possible, which is reflected in Table. 3 through a fraction.

Table 3

The amount of depreciation deductions, taking into account inflation, using various depreciation methods for the Manta-850 ED stone cutting machine in 2014-2018

Inflation for the period, %	The amount of annual depreciation charges, rub.
Inflation for the period, %	Line method	Declining balance method	Year Sum Method
	33582:1,054 = 31862	67165:1,054 = 63724	55971:1,054 = 53103
	33582:1,049 = 32013	40299:1,049 = 38417	44777:1,049 = 42685
	31892/31862/32013	22962/22940/23050	31892/31862/32013
	31892/31892/32044	13778/13778/13844	21261/21261/21363
	31952/31952/32198	20705/20705/20864	10651/10651/10733
	159611/159581/160130	159583/159564/159899	159592/159562/159897

Calculations confirm that none of the depreciation methods allows you to return full cost equipment. Thus, it becomes necessary to make a decision on how to save the amounts allocated to the sinking fund in order to neutralize inflation. One of the least risky options is to invest money in a bank account.

In table. Table 4 shows the calculation of the accumulated amount of depreciation for Manta-850 ED equipment, accrued by various methods and directed to a deposit account in VTB 24, provided that the account is replenished once a year at the end of the year and the interest rate is 6.65% per annum. For simplicity of calculations, the average value of depreciation deductions was used, taking into account inflation predicted for various scenarios of economic development.

To assess whether keeping funds in a deposit account will fully compensate for the impact of inflation and accumulate an amount equal to the initial cost of the equipment, we will bring the amounts obtained as a result of calculations to the current moment. The calculations were made for a discount rate of 7%. Table 5.

Table 4

The amount of savings when crediting depreciation deductions for Manta-850 ED equipment to a deposit account in 2014-2018.

Table 5

Discounted amount of savings when crediting depreciation charges to a deposit account in 2014-2018

As follows from the calculation results, the use of the straight-line depreciation method will not allow you to accumulate a sufficient amount. In addition, we fully share the point of view of S.V. Pankova and Z.S. Tuyakova, according to which “the limitations in the application of the depreciation policy in accounting and especially in tax accounting that are in force in domestic practice do not allow for the unconditional reimbursement of advanced capital in production activities, their abolition will increase the interest of business entities in the use of progressive depreciation methods and bring the methodology of accounting and tax accounting as close as possible” .

As a result of the implementation of the proposed measures, the main problem of fixed capital management will be solved - providing the necessary amount of funds for its reproduction. The formation of a depreciation fund in the form of targeted accumulations of funds on a bank deposit will provide the enterprise with an amount sufficient to replace the fixed assets object by the end of its use, and the use of accelerated depreciation methods will allow for expanded reproduction by increasing fixed capital.

Reviewers:

Davankov A.Yu., Doctor of Economics, Professor of the Department of Economic Theory and Regional Development of FGBOU VPO "ChelGU", Chelyabinsk;

Pestunov M.A., Doctor of Economics, Professor of the Department of Accounting and Finance, ChelGU, Chelyabinsk.

The work was received by the editors on February 26, 2014.

Bibliographic link

Kleiman A.V. TOPICAL ISSUES OF FIXED CAPITAL MANAGEMENT AT RF ENTERPRISES // Basic Research. - 2014. - No. 5-2. - S. 308-313;
URL: http://fundamental-research.ru/ru/article/view?id=33870 (date of access: 03/20/2020). We bring to your attention the journals published by the publishing house "Academy of Natural History"