Enterprises operating on the principle of commercial calculation must have a certain property and operational independence in order to conduct business profitably and bear responsibility for the decisions made. In these conditions, there is an increasing need to determine the needs of enterprises for their own working capital ah, playing main role in the normal functioning of enterprises.

It is important for an enterprise to correctly determine the optimal need for working capital, which will allow it to receive the profit planned for a given production volume with minimal costs. An understatement of the amount of working capital entails an unstable financial condition, interruptions in the production process and, as a result, a decrease in production volume and profits. In turn, overestimating the size of working capital reduces the enterprise’s ability to make capital expenditures to expand production. Freezing of funds (own and borrowed) in any form, be it warehouse stocks finished products or suspended production, excess raw materials and supplies, are very expensive for the enterprise, since free funds can be used more rationally to generate additional income.

At an enterprise, the determination of the need for working capital must be linked to the production cost estimate and the production plan of the enterprise. It should justify the release of specific types of products in the right quantity and within a certain time frame.

To determine the need for working capital, three methods can be used: analytical, coefficient and direct counting method. An enterprise can apply any of them, focusing on its work experience and taking into account the size of the enterprise, the volume of the production program, the nature of economic relations, accounting and the qualifications of economists.

The analytical method involves determining the need for working capital in the amount of their average actual balances, taking into account the growth of production volume. In order not to record shortcomings of previous periods in the organization of working capital, it is necessary to analyze the actual balances of production inventories in order to identify unnecessary, redundant, illiquid, as well as all stages of work in progress to identify reserves for reducing the duration of the production cycle, study the reasons for the accumulation of finished products in the warehouse and determine the actual need for working capital. In this case, it is necessary to take into account the specific operating conditions of the enterprise in the coming year (for example, price changes). This method is used in those enterprises where funds invested in material assets and costs take up a lot specific gravity in the total amount of working capital.

With the coefficient method, inventories and costs are divided into those that directly depend on changes in production volumes (raw materials, consumables, costs of work in progress, finished goods in the warehouse) and those that do not depend on it (spare parts, low-value and wearable 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. If an enterprise analyzes the turnover of working capital and seeks opportunities to accelerate it, then the real acceleration of turnover in the planned year must be taken into account when determining the need for working capital. For the second group of working capital, which does not have a proportional dependence on the growth of production volume, the need is planned at the level of their average actual balances for a number of years. (If necessary, you can use analytical and coefficient methods in combination. First, use the analytical method to determine the need for working capital, depending on the volume of production, and then use the coefficient method to take into account changes in production volume).

The direct counting method provides for a reasonable calculation of inventories 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, and settlement practices between enterprises. This method, being very labor-intensive, requires highly qualified economists and the involvement of employees of many enterprise services (supply, legal, product sales, production department, accounting, etc.) in standardization. But this allows you to most accurately calculate the company’s need for working capital. The direct counting method involves rationing working capital invested in inventories and costs, finished products in the warehouse. IN general view its content can be presented as follows:

development of stock standards for certain most important types of inventory items of all elements of regulated working capital;

determination of standards in monetary terms for each element of working capital and the total need of the enterprise for working capital.

The specific operating conditions of each enterprise significantly affect the size of working capital standards. Such conditions may include:

Duration of the production cycle;

Frequency of launching materials into production;

Time to prepare materials for production consumption;

Distance between suppliers and consumers.

In practice, it is most appropriate to use the direct counting method. The advantage of this method is its reliability, which makes it possible to make the most accurate calculations of partial and aggregate standards. Private standards include standards for working capital in production inventories: raw materials, basic and auxiliary materials, purchased semi-finished products, components, fuel, containers, MBP, spare parts; in work in progress and semi-finished products own production; in deferred expenses; finished products. The peculiarity of each element determines the specifics of standardization.

An important place in the organization of working capital is occupied by their planning, which makes it possible to determine the planned need of the enterprise for working capital.

Optimal provision of working capital leads to minimization of costs, improvement financial results, to the rhythm and coherence of the enterprise's work.3 an increase in working capital leads to their excessive diversion into inventories, to the freezing and deadening of resources. A decrease in working capital can lead to interruptions in production and sales of products, to the untimely fulfillment of its obligations by the enterprise. In both cases, the consequence is an unstable financial condition, irrational use of resources, leading to loss of benefits.

The specific amounts of working capital are determined by current needs and depend on:

the nature and complexity of production;

duration of the production cycle; seasonality of work;

production growth rates, changes in volumes and conditions of sales of products;

the procedure for settlements and organization of settlement and cash services;

financial capabilities of the enterprise;

frequency of payment receipt dates, etc.

According to the degree of planning, working capital is divided into standardized and non-standardized. Standardized are only own working capital, but not all, but only working capital production assets and partly circulation funds, namely the remains of unsold finished products in the enterprise’s warehouse. TO non-standardized funds include the remaining elements of the circulation funds: goods shipped, cash and funds in settlements. However, this does not mean that their magnitude is uncontrollable. The enterprise manages non-standardized elements of working capital and influences their value through a system of lending and settlements.

Rationing is the establishment of the optimal amount of working capital necessary for the organization and implementation of normal economic activities of the enterprise.

Rationing of working capital is carried out on the basis of industry methods in the process of drawing up a financial plan for an enterprise.

Basic principles of working capital rationing:

The standards are set in medium sizes.

Working capital is separately normalized according to the main activities, construction, trade and supply activities.

Rationing is carried out in accordance with production cost estimates for off-season industries, based on the costs of the fourth quarter, and in seasonal ones - the quarter where the largest share of costs is.

During planning, measures are developed to improve the use of working capital.

Standardization is the development of norms and standards.

Working capital norms - This is the volume of stock of the most important inventory items necessary for the enterprise to ensure normal, rhythmic operation. Norms are relative values ​​that are established in days of stock or as a percentage of a certain base (commodity products, volume of fixed assets) and show the duration of the period provided by this type of stock of material resources. As a rule, they are established for a certain period of time (quarter, year), but can be valid for a longer period. The standards are revised in case of fundamental changes in the product range, production conditions, supply and sales, changes in prices and other parameters.

Standards are established separately for the following elements of standardized working capital:

production inventories (based on production inventories based on material costs for the 4th quarter);

work in progress and semi-finished products self-made(for work in progress based on the cost of gross output (cost of gross output for the 4th quarter). The working capital norm for work in progress is established based on the duration of the production cycle and the degree of readiness of products);

deferred expenses;

inventories of finished products in the enterprise warehouse (one-day costs for finished products are determined based on their production cost of marketable products for the 4th quarter).

Working capital ratio- this is the monetary expression of the cost of the minimum required stock for the planning period.

There are several methods for calculating working capital standards: the direct counting method, analytical and coefficient.

Analytical ( The experimental-statistical method involves an aggregated calculation of working capital in the amount of their average actual balances. This method involves taking into account various factors influencing the organization and formation of working capital, and is used in cases where significant changes are not expected. operating conditions of the enterprise and when funds invested in material assets and inventories occupy a large share.

Coefficient method is based on the determination of a new standard based on the existing one, taking into account amendments to the planned change in production and sales volumes, to accelerate the turnover of working capital, When applied this method All inventories and costs of the enterprise are divided into:

depending on changes in production volume - raw materials, materials, costs of work in progress and finished products in the warehouse;

not dependent on the growth of production volume - spare parts, low-value and wearable items, deferred expenses.

The main method for determining the planned need for working capital is the direct counting method, which is the most accurate, reasonable, but at the same time quite labor-intensive. It is based on the determination of scientifically based stock standards for individual elements. working capital and working capital standard, i.e. the value expression of the reserve, which is calculated for each element (particular standards) and in general for standardized working capital (aggregate standard).

The standardization process includes:

1) development of stock standards for certain types of inventory of all elements of standardized working capital;

2) determination of frequent standards for each element of working capital;

3) calculation of the total standard for own standardized working capital.

With this method, the working capital standard is calculated as the product of one-day resource consumption in value terms and the stock rate expressed in days.

Equipment requirement av = OR x N

OR- this is the average one-day consumption of inventory or vacation determined by the enterprise on the basis of the cost estimate for the 4th quarter (OR = costs of the 4th quarter: 90)

N - This is the stock norm, which is established based on the time necessary to create conditions for the efficient and uninterrupted functioning of production.

General norm stock includes:

1. transport stock is created for the period of discrepancy between payment of documents and receipt of goods, i.e. when the duration of document flow is less than the duration of cargo turnover;

2. Preparatory stock is the time required for unloading, storing and placing goods. Determined based on timing;

3. technological stock is the time required to prepare raw materials for production;

4. current stock - planned based on the time between deliveries in the amount of 1/2 of this interval;

5. safety stock - created in case of interruptions in supplies to guarantee continuity in the production process, planned in the amount of 50% of the current stock.

Inventory standards are calculated separately for each type of raw material and materials and for each major supplier. After calculating the private norms, the total norm of demand is determined for each element of inventory and for all working capital as a whole. It is defined as the amount normal The actual total need for working capital is compared with the availability of working capital in the reporting period to determine the required increase or surplus.

An increase in demand means an increase in the cost of replenishing working capital. It is included in the expenditure part of the enterprise’s financial plan. Surplus means the release of working capital and is reflected in the income side of the financial plan. Financial plan reflects not the need for working capital itself, but its change.

4.4. Determining the need for working capital and assessing the effectiveness of its use

Before receiving proceeds from the sale of products, working capital is a source of financing the current production costs of the enterprise. Optimal provision of working capital leads to minimization of costs, rhythm and coherence of the enterprise. Overestimation of the optimal amount of working capital leads to their excessive diversion into inventories, to the diversion of resources, since additional costs arise for storage and warehousing, and for paying property taxes. Underestimation leads to interruptions in production and sales, and to the enterprise’s failure to fulfill its obligations. In any case, a suboptimal amount of funds means an irrational use of financial resources. If it is possible to manage working capital, they are classified into standardized and non-standardized.

Only own working capital is regulated, but not all of it, but only circulating production assets and partly circulating assets in the form of finished products in the warehouse. Non-standardized elements include the remaining elements of circulation funds: goods shipped, cash and funds in settlements. Rationing is the establishment of the optimal amount of working capital necessary to carry out the economic activities of the enterprise. At the base production plan a production cost estimate is developed, which determines possible cost products, the basis for determining the need for working capital is the cost estimate.

There are several methods for calculating working capital standards:

1) The direct counting method is the most accurate, reasonable, and labor-intensive, because is based on the determination of scientifically based stock standards for individual elements of working capital and working capital standards, i.e. the value expression of the reserve, which is calculated for each of their elements (particular standards) and in general for the regulated funds (aggregate standard).

2) The analytical method (experimental and statistical) involves an aggregated calculation of working capital in the amount of their average actual balances. It involves taking into account various factors influencing the organization and formation of working capital, and is used in cases where significant changes in working conditions are not expected and funds invested in inventories have a large share.

3) The coefficient method is based on determining a new standard based on the existing one, taking into account adjustments for changes in production volume. In this case, all inventories and costs are divided into two groups:

Depending on the volume of production (raw materials, materials, costs of work in progress and finished goods on salary);

Not dependent on production volume (spare parts, deferred expenses).

For elements dependent on production volume, demand is planned based on their size in the base year, production growth rates and possible acceleration of turnover. For other elements of inventories and costs, the planned requirement is determined at the level of their average actual balances.

The main method is the direct counting method, in which the standardization process includes several stages:

Stage 1 - development of stock standards for certain types of inventory items of all elements of regulated funds.

Working capital standards are the volume of stock of the most important inventory items necessary for an enterprise to ensure normal operation. Norms are relative values ​​that are established in days of stock or as a percentage of a certain base (commodity products, volume of fixed assets) and show the duration of the period provided by this type of stock of material resources. Standards are revised in case of fundamental changes in product range, production conditions, etc.

Standards are established for the following elements: inventories; work in progress and semi-finished products of own production; deferred expenses; stocks of finished products in the warehouse.

Let's look at an example based on inventories and finished goods.

The standard in days for production inventories is established for each type of material and includes the time for operations:

Unloading, receiving, storing and laboratory analysis(preparatory stock);

The presence of raw materials and supplies in the warehouse in the form of current and insurance (warranty) stock;

Preparations for production (drying, heating, settling, etc.) - technological stock;

Location of materials in transit and document flow time (transport stock).

The main thing is the current warehouse stock - the time the stocks are in the warehouse between two next deliveries. Its value is related to the uniformity of supplies (supply cycle) and the frequency of launching raw materials into production. The amount of this stock is set at 50% of the average supply cycle, on average about 10 days.

Safety stock is necessary when failures occur in delivery conditions and terms, incomplete batches arrive, or the quality of supplied materials is compromised. Its value is 1/2 of the warehouse supply (5 days).

On average, the transport stock is set to the same duration, which is formed when there is a discrepancy in the timing of document flow and payment for them and the time the materials are in transit.

The general norm for raw materials, supplies, purchased semi-finished products is made up of the listed types of reserves. Norms are also calculated for other types: auxiliary materials, MBP.

Inventory standards for finished products are calculated separately for finished products in the warehouse and for shipped products, the documents for which have been submitted to the bank. Standards are determined for each nomenclature group, taking into account the time for operations:

A selection of individual types and brands of products;

Packaging and labeling, storage in a warehouse until shipment;

Picking to batch size;

Loading and delivery from the warehouse to the departure station;

Preparing payment documents and submitting them to the bank.

Stage 2 - determination of private standards for each element of working capital. The standard shows the minimum required amount cash, providing the economic needs of the enterprise, i.e. this is the monetary expression of the planned stock. Basically, the standard for an individual element is calculated as:

N = stock norm (Nz), in days * one-day consumption for this element of funds. One-day expense = costs or output of 4 quarters / number of days in a quarter (90 days)

Standards for other elements of working capital are calculated similarly.

Nr.bp = Rbp. n + Rbp.pl – Rbp.sp,

where Nr.bp is the standard for future expenses;

R bp.n - deferred expenses at the beginning of the year;

Rbp.pl - expenses in the planning year;

Rbp.sp - expenses of future periods described by expenses in the planning period.

Stage 3 - the rationing process ends with the establishment of an aggregate working capital standard (NOS).

Nose = Npz + Nnp + Nr.bp + Ngp,

where oil refinery is the standard for production reserves;

Nnp - work-in-progress standard;

Nr.bp - standard expenses for future periods;

NGP - standard for finished products.

The enterprise's need for non-standardized working capital is determined by calculation, and they are managed through short-term lending. This is how the enterprise calculates the need for cash in the cash register and working capital for inventories of goods. The calculation method is similar to normalization. For example, the need for working capital for inventories of goods is calculated as the product of the stock norm of goods by the one-day turnover of goods in the 4th quarter at purchase prices, and the need for funds in the cash register is calculated by multiplying the norm of the cash reserve by the one-day turnover of goods in the 4th quarter. However, this need is not established as rigidly as compared to rationing.

When calculating the amount of goods shipped, financial services track goods shipped, the payment period for which has not yet arrived, and goods shipped but not paid on time (usually due to lack of funds from buyers) or those in custody of buyers (mainly due to high % of defects, deviations from the agreed assortment, etc.).

In the first group, revenue should be received, but between the moment of shipment and receipt of revenue there is a time lag, during which funds fall out of the enterprise’s turnover. The emergence of the second group is unprofitable for the enterprise and leads to financial tension and a decrease in solvency. In addition to the above, control over funds (at the cash desk, postal orders, issued letters of credit) and accounts receivable arising as a result of overpayment of taxes and other obligatory payments made in the form of an advance, as well as untimely return of funds by accountable persons (travel, transportation and other expenses), the appearance of doubtful debts after the expiration of payment terms, disputed debts in case of violation of contractual obligations.

The effectiveness of the system for managing the processes of reproduction of working capital of an enterprise is expressed in the level and dynamics of indicators characterizing the performance of the organization and indicators reflecting the efficiency of using working capital.

The presence of the enterprise's own working capital, the rational structure of assets, the speed of turnover and the efficiency of use of working capital predetermine the parameters of the financial condition of the enterprise.

Turnover ratio Cob = V/C

where, C – average working capital balances for the period,

B – revenue from sales of products.

The indicator reflects the number of turnovers made by the working capital of an enterprise over a certain period of time. In fact, it shows the amount of products sold per ruble of working capital. Its growth means an increase in the number of turnover and has a positive effect on the financial condition of the enterprise, revenue per ruble invested in working capital increases, and the need for working capital for the same volume of products sold is reduced.

Turnover indicators can be calculated both for all working capital and for individual elements: inventories, work in progress, finished goods and funds in the calculations, which allows for an in-depth analysis of the use of working capital.

The turnover of working capital may change over time. A slowdown in turnover leads to the involvement of additional funds in circulation; acceleration is expressed in a reduction in the need for working capital due to their more efficient use.

Previous

The efficiency of an enterprise largely depends on the correct determination of the need for working capital. In turn, this helps to minimize costs, improve the financial position of the enterprise as a whole, and improve the rhythm of production. An overestimation of the volume of working capital leads to an increase in the cost of attracted resources for the enterprise, an increase in property taxes, an increase in warehousing costs and, in general, reduces the efficiency of their use. Lack of working capital may cause interruptions or temporary stoppage of production. In any case, both a lack and an excess of working capital have a negative impact on the financial position of a business entity.

The specific amounts of working capital are determined by such factors as: the technological complexity of production, the duration of the production cycle, the seasonality of production, the conditions of production and sales of products, the rate of change in production and sales volumes, the procedure and forms of payments, financial situation, the state of financial discipline.

Based on the production plan, a production cost estimate is developed, in which the possible cost of production is calculated, and the cost estimate is used as the basis for assessing the need for working capital. Rationing- one of essential elements intra-company planning and management financial activities enterprises. It represents the establishment of the optimal amount of funds necessary for the normal implementation of the production process and sale of products.

If it is possible to manage working capital, they are classified into standardized and non-standardized.

Standardized- own working capital advanced into circulating production assets and individual elements of circulation funds (raw materials, materials, fuel, semi-finished products, remnants of finished products). Non-standardized current assets - shipped goods, cash, accounts receivable.

There are several ways to plan the need for working capital: analytical, coefficient, direct counting method.

Analytical The method (experimental-statistical) involves an aggregated calculation of working capital in the amount of average actual balances. Takes into account various factors influencing the organization and formation of working capital; used in cases where significant changes in working conditions and funds invested in inventories, have a large specific gravity.

Coefficient The method is based on determining a new standard based on the existing one, taking into account adjustments for changes in production volume. In this case, all inventories and costs are divided:

Depending on the volume of production (raw materials, materials, costs of work in progress and finished products

on salary);

Not dependent on production volume (spare parts, costs

future periods, etc.).

For dependent elements, demand is planned based on their size in the base year, production growth rates and possible acceleration of turnover. For other elements of inventories and costs, the planned requirement is calculated at the level of their average actual balances.

Method direct account - the most accurate, but the most labor-intensive. It is based on the determination of scientifically based stock standards for individual elements of working capital and working capital standards. The standardization process includes a number of stages.

Stage 1. Development of stock standards for certain types of inventory items of all elements of regulated funds.

Norms - relative values, which are established in days of supply or percentage of a certain base (commodity products, volume of fixed assets); show the duration of the period provided by this type of reserves of material resources. Working capital norms - the volume of stock of the most important inventory items necessary for the enterprise to ensure normal operation. Standards are revised in case of fundamental changes in product range, production conditions, etc.

Standards are established for the following elements of working capital:

• industrial stocks;
• work in progress and semi-finished products of own production;
• deferred expenses;
• stocks of finished products in the warehouse.

Let's look at an example based on inventories and finished goods.

The standard in days for production inventories is established for each type of material and includes time for: unloading, receiving, warehousing and laboratory analysis (preparatory stock); the presence of raw materials and materials in the warehouse in the form of current and insurance (warranty) stock; preparation for production (drying, heating, settling, etc.) - technological reserve; location of materials in transit and document flow time (transport stock).

The main thing is the current warehouse stock - the time the stocks are in the warehouse between two next deliveries. Its value is related to the uniformity of supplies (supply cycle) and the frequency of launching raw materials into production. The amount of this stock is set at 50% of the average supply cycle, on average about 10 days.

Safety stock is necessary when failures occur in delivery conditions and terms, incomplete batches arrive, or the quality of supplied materials is compromised. Its value is 1/2 of the warehouse supply (5 days).

On average, the transport stock is set to the same duration, which is formed when there is a discrepancy in the timing of document flow and payment for them and the time the materials are in transit.

The general norm for raw materials, supplies, purchased semi-finished products is made up of the listed types of reserves. Standards are also calculated for other types, for example, for auxiliary materials.

Inventory norms for finished products are calculated separately for finished products in the warehouse and shipped products, the documents for which have been submitted to the bank. Standards are determined for each product group, taking into account the time for: selection of individual types and brands of products; packaging and labeling, storage in a warehouse until shipment; picking to batch size; loading and delivery from the warehouse to the departure station; preparing payment documents and submitting them to the bank.

Stage 2. Determination of private standards for each element of working capital. Standard shows the minimum required amount of funds to meet the economic needs of the enterprise, i.e. this is the monetary expression of the planned stock.

Basically, the standard for an individual element is calculated as:

N = Inventory norm (N 3), in days x x One-day expenditure for this element of funds,

Costs or output of the fourth quarter

One day consumption = -

Number of days in a quarter (90 days)

Standards for other elements of working capital are calculated similarly:

Rbp.n + ​​R

where N rbp is the standard for future expenses; R bp n - deferred expenses at the beginning of the year; R bp pl - expenses in the planning year; R bpsp - expenses of future periods written off as expenses in the planning period.

Stage 3. The rationing process ends with the establishment of a total working capital standard (N OS):

n =n +n +n +n

1L os 1 A pz " 1 * np " and 1 " r.bp " p gp>

where N pz is the standard of production reserves; N np - work-in-progress standard; N gp - standard for finished products.

The enterprise's need for non-standardized working capital is determined by calculation, and its management is carried out with the help of short-term lending. Thus, the enterprise calculates the need for cash in the cash register and working capital for inventories of goods. The calculation method is similar to normalization.

For example, the need for working capital for inventories of goods is calculated as the product of the stock norm of goods by the one-day turnover of goods in the fourth quarter at purchase prices, and the need for funds in the cash register is calculated by multiplying the norm of the cash reserve by the one-day turnover of goods in the fourth quarter. However, this need is not established as rigidly as compared to rationing.

When calculating the amount of goods shipped, financial services track:

• goods shipped for which payment was not due;
• shipped, but not paid on time (usually due to lack of funds from buyers) or in custody of buyers (mainly due to a high percentage of defects, deviations from the agreed assortment, etc.).

In the first group, revenue should be received, but between the moment of shipment and receipt of revenue there is a time lag, during which funds fall out of the enterprise’s turnover. The emergence of the second group is unprofitable for the enterprise and leads to financial tension and a decrease in solvency. In addition to the above, it is also important to control funds (in the cash register, postal orders, issued letters of credit) and receivables arising from overpayment of taxes and other obligatory payments made in the form of an advance, untimely return of funds by accountable persons (travel, transportation and other expenses), the appearance of doubtful debts after the expiration of payment terms, disputed debts in case of violation of contractual obligations.

The efficiency of an enterprise largely depends on the correct determination of the need for working capital. Optimal provision of working capital leads to minimization of costs, improvement of financial results, rhythm and coherence of the enterprise. Overestimation of working capital leads to their excessive diversion into reserves, to the “freezing” of resources. An understatement of working capital can lead to interruptions in production and sales of products, and to the enterprise’s failure to fulfill its obligations in a timely manner. In both cases, the consequence is an unstable financial condition, irrational use of resources, leading to loss of benefits.

The most important principle effective management working capital is their rationing. In the course of rationing, the required minimum amount of funds is calculated to ensure a stable financial position for the enterprise.

Rationing represents the establishment of the optimal amount of working capital necessary for the organization and implementation of normal economic activities of the enterprise. Rationing of working capital is the subject of intra-company planning, one of the key areas for managing the formation and use of working capital.

When rationing working capital, an enterprise can use one of the following methods for determining the optimal need for working capital: statistical and analytical method, coefficient method, direct counting method.

Statistical-analytical method involves an aggregated calculation of working capital in the amount of their average actual balances. This method involves taking into account various factors influencing the organization and formation of working capital, and is used in cases where significant changes in the operating conditions of the enterprise are not expected and when funds invested in material assets and inventories occupy a large share.

Coefficient method is based on the determination of a new standard based on the existing one, taking into account amendments to the planned change in production and sales volumes, as well as to accelerate the turnover of working capital. When applying this method, all inventories and costs of the enterprise are divided into: those depending on changes in production volume - raw materials, materials, costs of work in progress and finished products in the warehouse; independent of production growth - spare parts, deferred expenses.

For elements of working capital that depend on the volume of production, the need is planned based on their size in the base year, the rate of production growth and the possible acceleration of working capital turnover. For other elements of inventories and costs, the planned requirement is determined at the level of their average actual balances.

Direct counting method is the most accurate, reasonable, but at the same time quite labor-intensive. It is based on the determination of scientifically based stock standards for individual elements of working capital and working capital standards, i.e., the value expression of the stock, which is calculated for each element (particular standards) and in general for standardized working capital (aggregate standard).

The direct counting method is the main and most common method used by enterprises for determining the planned need for working capital. When using this method, the standardization process includes:

1) development of stock standards for certain types of inventory of all elements of standardized working capital;

2) determination of frequent standards for each element of working capital;

3) calculation of the total working capital standard - the sum of private standards: for inventories, work in progress, deferred expenses and finished goods inventories.

Working capital standards- this is the volume of stock of the most important inventory items necessary for the enterprise to ensure normal, rhythmic work. Working capital standards are relative values ​​that are established in days of stock and show the duration of the period provided by this type of stock of material resources. As a rule, they are established for a certain period of time (quarter, year), but can be valid for a longer period.

Standards are established separately for the following elements of regulated working capital: production inventories; work in progress; home-made semi-finished products; deferred expenses; stocks of finished products in the enterprise warehouse.

Based on economically sound standards, the working capital standard is established.

Working capital ratio- this is the minimum planned amount of funds constantly required by the enterprise for organization production activities and making payments.

Unlike the norm, the working capital standard is set for a specific period - a quarter, a year.

Thus, the rationing of working capital using the direct counting method is carried out in the following order:

1. Are developed economically reasonable standards stocks of all standardized working capital separately. As a rule, norms are expressed in days. The stock norm in days means the duration of the period provided by this type of working capital.
2. The one-day requirement is determined for the corresponding article of regulated working capital. This one-day requirement for industrial inventories is calculated on the basis of production cost estimates, for work in progress - based on the cost of gross production, and for finished products based on the production cost of marketable products.
3. Calculation of the standard by multiplying the standard by the one-day requirement for the corresponding item of working capital.

Let's consider the rationing procedure for the main items of working capital.

Article "Raw materials".

The standard for this article for the enterprise as a whole is calculated on the basis of determining the average standard for all types of consumed raw materials and materials, but first the standard is calculated for each main type of consumed raw material and materials.

The stock norm in days for certain types of raw materials consists of:

1) the time spent on paid raw materials and materials in transit (transport stock);

2) time for acceptance, unloading, sorting and storage of incoming raw materials and supplies (unloading stock);

3) the time of stay of raw materials and supplies in the warehouse (current stock);

4) guarantee (insurance) stock;

5) preparation time for production (technological reserve).

Transport stock- created for the period of gap between the terms of cargo turnover and document flow. While materials are in transit after payment of settlement documents, enterprises have a need for funds, which must be covered by transport stock, which is equal to the difference between the duration of cargo turnover and the duration of document circulation. When the receipt of raw materials and basic materials coincides with the due date for payment, or when raw materials and basic materials arrive before the due dates for payment of bills, transport stock is not established.

Unloading stock necessary for the period of acceptance, unloading, sorting and storage of materials. It is established based on technical standards for each operation or by timing the specified work or is determined empirically. In this case, measures should be taken to reduce the duration of operations through the mechanization of loading and unloading operations and the possible combination of operations.

Current stock- the main type of stock, intended to ensure the normal course of production activities in the period between two subsequent shipments. The current stock rate depends on the supply interval, supply volume, intensity of consumption, number of suppliers, storage conditions, etc. The more frequent the deliveries, the smaller the current stock. The amount of current stock is usually defined as half the duration of the average interval between deliveries.

The interval between two adjacent deliveries for calculating the current stock can be determined in two ways:

1) based on planned data (if the supply portfolio has already been fully formed and we know what quantity and in what time frame is expected in the planning year).

Interval = 360 days / Number of planned deliveries per year;

2) when there is no data for the first method, actual data is used. Based on typical deliveries (atypical deliveries are excluded and 2 deliveries on 1 day are accepted for 1 delivery).

Interval = 360 days / Number of typical deliveries per year.

Safety stock is created to ensure continuity production process in the event of interruptions in supply due to violation of the terms of delivery of basic materials, raw materials, semi-finished products in terms of timing and completeness, delay of cargo in transit and some other cases. The amount of stock in days is influenced by factors such as the distance of suppliers from consumers, the size of the current stock, etc. The rate of working capital in days for safety stock is usually set for each group of materials within the limits of up to 50% of the rate of the current stock. In some cases, it can be increased beyond 50% (when the enterprise is located far from suppliers, when materials are consumed continuously and in large quantities, etc.).

Technological stock is created when raw materials must be processed (cutting, drying, heating, etc.) before they are transferred to production. This reserve is calculated based on established standards for the duration of certain processes or empirically. Even if, according to the conditions of the technological process, time is required to prepare raw materials for production, a technological stock is created only when the duration of preparation is greater than the current stock.

The general norm of working capital stock for each type of raw materials is determined by summing the above inventories.

Norm = Transport stock + Unload stock + Current stock + fear. stock + Techn. stock

The average rate of working capital stock under the item “Raw materials” is defined as the average value of working capital standards for each element of working capital.

The working capital standard for the item “Raw materials” is determined by multiplying the average working capital norm for the item “raw materials” by the daily costs of raw materials and materials in the planning period.

Article "Supporting Materials".

To determine the standard " auxiliary materials“It is advisable to divide them into two groups. First of all, those that are consumed in large quantities and for a significant amount (at least 50% of the total amount) are highlighted. annual consumption). For this part, the calculation of norms and standards is carried out using the direct counting method, as was proposed for raw materials. For the second group (other auxiliary materials), the calculation is performed taking into account the average actual balances for the previous period.

Article "Spare parts".

For spare parts for repair, the calculation of the standard is made taking into account the industry characteristics of the enterprise. For this part of the inventory it is possible to use analytical method, in which the norm is set in rubles per 1000 rubles of the cost of equipment in operation. This takes into account not only the existing supply conditions and average balances, but also the interchangeability and unification of components and parts included in certain machines.

Article "Work in progress".

The production process must proceed continuously, and this is ensured by the presence of a constant reserve, i.e. unfinished products at various stages of processing. This problem is solved in the process of rationing working capital under this article.

The rationing of the need for working capital for the formation of backlogs of work in progress and inventories of semi-finished products of own production is carried out based on the planned cost of work in progress and the inventory rate, depending on the duration of the production cycle.

The dependence of the norm on the duration of the production cycle is taken into account by the cost increase coefficient.

The duration is taken into account by the relevant technological maps for each product from the moment of the first operation until the product is transferred to the intermediate warehouse or finished product warehouse. The specifics of production leave their mark on the cost formation process. According to the stages of the cycle, costs can increase evenly or unevenly, spasmodically, therefore the cost increase coefficient is calculated different methods depending on the nature of the increase in costs.

In the case of a uniform increase in production costs, the cost increase coefficient can be defined as a fraction, the numerator of which is the sum of one-time costs and half of all subsequent costs, and the denominator is the sum of all costs (production cost):

Knz = (Ze + 0.5 × Zp) / (Ze + Zp),

Where Knz

Ze- the amount of one-time costs at the beginning of the production process;

Salary- the sum of all subsequent costs.

If costs increase unevenly, then the cost increase coefficient is calculated using the formula:

Knz = ∑ Зi / Spr × T,

Where Knz- cost increase factor;

Зi- costs for the i-period of time on an accrual basis;

Ref- planned production cost;

T

Example 1. With a uniform increase in costs. By technological process production, one-time costs amount to 40 thousand rubles, subsequent costs - 80 thousand rubles.

Cost escalation factor = (40,000 + 0.5 × 80,000) / (40,000 + 80,000) = 0.67.

Example 2. With an uneven increase in costs. The planned cost price is 15,000 rubles, the duration of the production cycle is 4 months, the costs for 1 month are 2,000 rubles, the second is 8 thousand, the third is 3 thousand, the fourth month is 2 thousand rubles.

Cost escalation factor = (2,000 + (2,000 + 8000) + (2000 + 8000 + 3000) + (2000+8000+3000+2000)) / 15000 × 4 months. = 0.67.

With a known cost increase rate, the rate of working capital stock in work in progress is calculated for each type of production as the product of the production cycle duration and the cost increase rate:

Inventory rate in work in progress = Knz × T,

Where Knz- cost increase factor;

T- duration of the production cycle.

The standard for working capital in work in progress is determined by multiplying the planned one-day costs at the production cost of gross output by the calculated stock rate for work in progress:

Standard = Svp × Norm

Where Svp- one-day costs for the production of gross output (production cost of gross output according to cost estimates, divided by the number of days in the period)

Article “Deferred expenses”.

The working capital standard for future expenses is calculated based on the current value of such expenses at the beginning of the planning period, increased by the amount of future expenses, which is provided for in the planned year, and reduced by the amount of expenses included in the cost of production from future expenses incurred according to the planned estimate. for the same period.

RBP standard = RBPn + RBPp - RBPs,

Where RBP standard- working capital standard for the item “Future expenses” of the planned period;

RBPn- deferred expenses at the beginning of the planning period;

RBPp- future expenses in the planning period, provided for in the estimate;

RBPs- deferred expenses that will be included in the cost of production in the planning period.

If a loan is supposed to be used for the preparation and development of new types of products, then when calculating the working capital standard for future expenses, the calculated need should be reduced by the amount of borrowed funds.

Article “Finished Products”.

From the moment of completion of the last technological operation, after acceptance by the technical control service, the new product is taken into account at the enterprise as a finished product. When calculating the working capital norm for this item, the time for the formation of warehouse stocks of finished products and for shipped goods (payment documents for which have not been transferred to the bank servicing the enterprise) is taken into account separately. The amount of inventory is determined by the time required:

1) to accumulate a shipment (transit norm),

2) selection of batches according to assortment and orders,

3) packaging and labeling,

4) delivery to the departure and loading station.

In addition, one should take into account the capabilities of transport organizations, the frequency of delivery vehicles. The warehouse stock norm for finished products calculated in this way increases by the time required to prepare payment and settlement documents and submit them to the bank.

The stock rate in days for finished products will be determined by the time it takes to complete all these operations. This rate is calculated separately for finished products in the warehouse and for goods shipped for which payment has not yet arrived.

The working capital standard for finished products is determined by multiplying one-day output at production cost by the value of the established standard for a given group of assets.

The calculated standards for each item of regulated working capital are called private working capital standards.

The rationing process ends with the establishment of a total working capital standard, which is determined by adding up the private standards for all items of regulated working capital.