Average annual balance sheet working capital. Book value of assets. How to calculate the book value of assets

27.11.2020

Revolving production assets - this is part of the working capital, which is consumed in each production cycle and the cost of which, in contrast to the main production assets completely transferred to newly created products (works, services).

The natural-material content of circulating assets is the objects of labor that are in production stocks (raw materials, basic and auxiliary materials, fuel, etc.) and entered the production process, the costs of future years for the development of new products and the improvement of technology, low-value and wearing items , the cost of which does not exceed 10 thousand rubles. or whose service life is less than 12 months, regardless of cost.

Circulation funds - these are funds that ensure the continuity of the production process and the sale of products (works, services) of the enterprise. They are used to service the sphere of circulation, to conduct supply and sales activities.

Circulation funds consist of ready-to-sell products, shipped products for which documents have not been transferred to the bank for payment or in transit, accounts receivable and cash in the cash desk, on settlement accounts in banks and in settlements necessary for the purchase of raw materials, materials, fuel, etc., payment of wages.

The natural-material content of working capital is studied on the left side of the balance sheets of enterprises, which is called an asset. Hence, the individual elements of working capital are called assets .

Funds advanced for the formation of working capital are studied on the right side of the balance sheets, called liabilities. Hence, the individual sources of income of working capital are called liabilities .

Working capital is formed from two main sources:

1) own, that is, the funds allocated to the enterprise during its formation and replenished in the future,

2) borrowed funds (loans).

Own working capital - this is a part of working capital, which characterizes the property independence and financial stability of the enterprise. They are formed primarily through deductions from profits.

Borrowed funds - this is the source of the formation of working capital; funds received in the form of bank loans (credits) and from other sources; are temporarily at the disposal of the enterprise and are used on an equal basis with their own circulating assets.

The main source of financing for the increase in own working capital is the company's profit. Additional need for working capital, due to temporary needs, is provided by short-term bank loans.

In addition to their own and borrowed funds, enterprises are constantly in turnover involved funds - all types of accounts payable.

Circulation of working capital the enterprise includes three stages:

At the first stage, working capital is transferred from the monetary form to the commodity one (production stocks and labor are acquired),

At the second stage, production stocks with the participation of tools and labor force are converted into finished products (work, services),

On the third - finished products (works, services) are sold, funds are released and again take the form of money.

The circuit is considered complete when the funds for the products sold have entered the company's current account. The first and third stages of the circulation relate to the sphere of circulation, the second to the sphere of production. The continuity of the production process provides for the availability of working capital in each of the three stages.

Average annual cost of working capital - calculated as average chronological, the input and output of working capital is timed to the middle of the month:

where OS n.g, OS k.g - the cost of working capital, respectively, at the beginning and end of the year,

ОC i - the cost of working capital for the 1st day ith month, starting in February ( i \u003d 2) and ending in December ( i = 12).

The efficiency of using the working capital of the enterprise is characterized by such indicators as the turnover of the working capital and the turnover ratio.

Turnover of working capital is the duration of their complete circulation, made from the first stage (acquisition) to the last (sale of finished products, works, services) in days:

where OS Wed - average for the period T balance of working capital,

R - proceeds from sales for the period T,

T - duration of the period, days.

Example... The balances of current assets in the enterprise amounted to: by 1.01 - 110 thousand rubles, by 1.02 - 115 thousand rubles, by 1.03 - 125 thousand rubles, by 1.04 - 130 thousand rubles. Sales of products for the first quarter amounted to 900 thousand rubles. Calculate the turnover of working capital.

Decision... Average balances of working capital for the period:

One-day revenue:

Turnover of working capital:

Working capital turnover ratio is the number of revolutions made by circulating assets for a given period:

Example... For the conditions of the previous example, calculate the turnover ratio of working capital.

Decision... Turnover ratio:

that is, during the quarter, the working capital of the enterprise made 7.5 turns.

Turnover indicators are related by the ratio:

In order to increase the efficiency of the functioning of working capital, enterprises carry out not only their accounting, but also rationing, for which they calculate:

1) the norms of stocks of working capital in days,

2) standards of working capital in monetary terms.

Standard is a technical and economic indicator reflecting the limiting value of the parameter, the level of resource use.

Working capital ratio - This is the minimum amount of funds required by the enterprise (firm) to meet the total need for working capital. In general, the calculation of the standard for a separate element of working capital can be performed according to the formula:

where BUT - the standard of a separate element of working capital,

ABOUT - turnover for a given element for a period (for example, material consumption for a year, quarter, month, etc.),

T - the duration of the period in days (a year is taken equal to 360 days, a quarter - 90 days, a month - 30 days),

H - the norm of the stock of working capital for a given element in days,

FROM - one-day consumption of this element.

Example... According to the cost estimate for the year, the need for materials is 720 thousand rubles. The stock rate is 15 days (that is, the material must be delivered 15 days before it goes into production). Calculate the standard of working capital for materials.

Decision... One-day material consumption:

Working capital ratio for materials:

This means that during the year the enterprise must maintain a stock of materials at the level of 30 thousand rubles.

In the economic literature, a grouping of the working capital of the enterprise is accepted, according to which the working capital is subdivided:

1) by the sphere of turnover by:

a) circulating production assets (sphere of production),

b) circulation funds (sphere of circulation);

2) by the element of working capital by:

a) productive reserves (raw materials, materials, fuel, spare parts, low value and wearing out items),

b) unfinished product costs (work in progress, prepaid expenses),

c) finished products (products in warehouses, products shipped),

d) cash and settlements (cash, accounts receivable and other settlements);

3) in terms of coverage by rationing for:

a) standardized (productive reserves),

b) non-standardized (cash and funds in payments);

4) by source of formation to:

a) own,

Each enterprise, regardless of its form of ownership, has a working capital, the value of which is the total value of available production assets and all assets in monetary terms. During one production cycle, part of it is involved, which is an indicator of the company's net assets in turnover. Based on the obtained figures of the balance sheet for the reporting period, and in this case it is a calendar year, it is possible to determine what the average annual value of current assets took place based on the results of the company's activities.

We apply a simple formula and analyze the resulting number

The average asset value on the balance sheet is calculated as follows:

This arithmetic mean reflects how much the organization's resources have changed in comparison with the previous period and whether it is necessary to use the property more efficiently in the future. Under normal economic management, at the end of the cycle, own assets always return to their original value in the context of individual elements, and the commercial side of production is increasing its turnover.

We summarize the result of the enterprise

Before the average annual value of assets in the balance sheet is displayed, it is necessary to calculate the sums of the pegged balance sheet elements, and this is:

Raw materials and supplies;
Finished products;
Cash;
Receivables;
Work in progress and prepaid expenses;

Above were the lines of the second section of the balance sheet concerning current assets. And in the part of non-current assets, information on fixed assets and intangible assets, construction in progress, securities is filled in.

Remember! Net book value is the difference between the amount of current assets and the short-term debt of a firm. But not all assets and liabilities of the society are taken into account! We lower the cost of shares and the debt of the founders to the authorized capital, as well as the reserve fund and deferred income.

What is the policy for managing current assets?

The asset structure has three types of governance:

Aggressive;
Conservative;
Moderate.

Each of the above models monitors the growth of current circulating assets, determining their share and the duration of turnover in order to avoid falling into the category of insolvent companies.

An essential point: the receipt of loans and borrowings is reflected in the growth of current assets, which in a particular case will be noticeably shifted and the proportionality of their equity participation will be violated, which will change the financial stability of the enterprise.

What is the most accurate cost?

The basis is the price indicator of similar property on the market that is closer in its characteristics;
The expert applies the income approach: cash flow received from the operation or lease of a specific asset after some time, where the amount is discounted and the cumulative final result is displayed taking into account the inflation rate;
The depreciation amount is deducted from the weighted average cost of such an object, which is determined by multiplying by a notional adjustment factor.

In practice, the weighted average is displayed, taken after the calculation by each of these three options, and according to the received value, the asset is put on the balance sheet.

If there is a need to "divide" the business, then the property is assessed in terms of units as described in the first method. However, you should not abandon the use of other more accurate approaches, because accounting does not like relative data. When it comes to the alienation of assets, then in order to determine the real value of the object of the transaction, it is necessary to conduct an assessment at the moment of its conclusion.

Nobody canceled responsibility

Analytical data show how high-quality was the level of turnover of the company's resources and what was the percentage of capital gains. The calculation of the average annual value of current assets, regulated by the accounting procedure, states the reliability of the result obtained. The legal field imposes great responsibility on the chief accountant, who puts his signature when submitting the balance sheet and financial statements to the relevant state authorities.

In late winter and early spring, all organizations are actively preparing financial statements for 2016. Let's talk about one of the key indicators of any enterprise - book value of assets. Where to see it in the balance sheet for 2016 and how it will help.

Asset composition and where to look

Any specialist who has ever dealt with accounting knows the words "balance sheet" and "organization assets". If we explain their meaning in an accessible language, it turns out that book value of assets - this is a certain number of funds and benefits that can be expressed in monetary terms.

In the language of accountants, what is the book value of an enterprise's assets, then this is the number of all assets of the firm in monetary content, which is clearly shown in the account. balance.

Assets can be:

non-circulating - they are summed up in line 1100 of the balance;
negotiable - spelled out in line 1200.

All major types of property and intangible assets are classified as non-current. They appear in the balance sheet according to their residual value (at which they were received / purchased, taking into account subsequent aging, wear and tear and revaluation, which was carried out by the company).

Working capital includes assets, the use of which in the activities of the enterprise to achieve financial success is quite frequent. They are involved for 12 months or another established cycle. These include:

materials needed for production;
debtors' debts to the company;
monetary assets and the like;
VAT on property acquired by the company;
financial investments, etc.

It's not hard to find book value of assets: this is a line 1600 in balance. It shows the amount of both current and non-current assets.

So there is only one option, where to look at the balance sheet value of assets: it is spelled out in line 1600 of the balance sheet.

What is the calculation for

Calculation book value of assets do primarily for the financial analysis of the enterprise. These data are used (see table):

Thanks to book value of assets businesses also determine how big the deal is. This follows from Article 46 of the Law<Об ООО˃ № 14-ФЗ. Чтобы выяснить масштаб сделки, сравнивают стоимость активов по балансу и цену имущества, с которым компания может расстаться по этой сделке.

If this amount is 25% of the value of all assets or more, then the transaction is considered large. In this case, to confirm it, it is necessary to hold a meeting of participants (shareholders).

When calculating some indicators of financial analysis, the average annual value of assets is required. Why not just use the balance sheet at the end of the period? You will find the answer in the article. In addition, you will learn how this value is calculated, where it is applied and what of the company's property is never involved in its calculation.

The average annual value of assets on the balance sheet: how to calculate

This is one of the simplest metrics in financial analysis. To calculate it, you do not need to memorize a complex formula. It all comes down to the rules of mathematics about calculating averages.

If you know the meanings of two numbers, how do you find their arithmetic mean? The answer is obvious - add and divide by two. Now we will transfer this simple rule to the language of balance lines, and we will receive four formulas at once: both for the whole value of assets, and for individual components.

For which indicator is the average value calculated	Formula indicating lines in the balance sheet (BB)	What the received value shows
1 For assets	(1600 BB at the beginning of the year + 1600 BB at the end of the year) ÷ 2	The average balance sheet value of the property of the enterprise, which is in his ownership
	1600 BB - BB currency
2 For non-current assets	(1100 BB at the beginning of the year + 1100 BB at the end of the year) ÷ 2	Average balance sheet value of property, the circulation period of which exceeds 12 months
	1100 - the result of the I section of the BB
3 For current assets	(1200 BB at the beginning of the year + 1200 BB at the end of the year) ÷ 2	The average balance sheet value of property that is in turnover of the company for less than one year or the normal operating cycle of the company
	1200 - the result of the II section of the BB
4 For net assets	[(1600 BB at the beginning of the year - 1400 BB at the beginning of the year - 1500 BB at the beginning of the year + 1530 BB at the beginning of the year) - (1600 BB at the end of the year - 1400 BB at the end of the year - 1500 BB at the end of the year + 1530 BB at the end year)] ÷ 2	The average balance sheet value of the property of the enterprise, which was acquired exclusively using equity. Otherwise - "cleared" of the company's obligations
	1400 - the result of the IV section of the BB, 1500 - the total of the V section of the BB, 1530 - deferred income

All formulas use the values \u200b\u200bof the indicators at the beginning of the year. Where can I get them if the balance sheet of an ordinary commercial organization contains data only as of December 31? You can use a simple rule from accounting: the final balance of one day is equal to the opening balance of the next day.

on December 31, 2017 - equated to January 1, 2018. And this is the cost at the beginning of the analyzed year;
as of December 31, 2018 - the cost at the end of the analyzed year.

Pay attention to the order of the columns in the balance sheet. Starting from the financial statements for 2011, it is like this:

the first column with numbers corresponds to the earliest date;
the middle column is the date that precedes the reporting date;
the rightmost column is the latest date shown.

Thus, using one balance sheet, you can calculate the average annual indicators for two years at once.

There is one very revealing technique. It is based on the calculation of the average annual value of assets. The output is a conclusion about the type of development of your organization (extensive or intensive). Download the Excel file and just plug in the numbers from your company's reports.

How to calculate the average annual cost of fixed and circulating assets

Why is the average annual asset value calculated?

Here are two answers to this question.

First answer. The balance sheet shows a picture of the life of the company in the moment, i.e on a particular day and even for a specific hour. When you look at an asset, you see what property the entity has at the reporting date. The situation will definitely change tomorrow:

new debts of counterparties will appear, and some of the old debts will be paid off;
new goods will be purchased, and those that were in the warehouse will be written off due to sale, damage or shortage;
payday will come, and a cash outflow will form, etc.

If the analyst decides to smooth out all such jumps and understand what is the average property valuation for a certain period, then the indicator of the average annual asset value will come to his aid.

It turns out that the first reason for the calculation is to neutralize fluctuations in the value of the property, and on this basis to make a correct comparison for different years.

Second answer.Let's compare what the headers of the tables for the balance sheet and the income statement look like.

The difference is obvious. All indicators of income, expenses and financial results, in contrast to the balance sheet values, are calculated cumulatively for a certain period... Revenue cannot be received as of December 31, 2019. She is forming for the year as a whole... Or, let's say, for a month, quarter, half a year.

What does this understanding give? The ability to realize, and therefore not forget the rule: if in one calculation formula data from the balance sheet and the statement of financial results are used simultaneously, then the first are taken in the average annual value... If this is not done, then it turns out that the analyst is trying to link together the instant (point) estimate with the estimate for the period. It is not correct.

Where is the average annual asset value involved in financial analysis? For example, in the formulas of profitability and turnover, and even in factor models. For convenience, we have collected some of these indicators and factor analysis formulas in the table. All of them relate primarily to the average annual value of assets in general. However, turnover and profitability are calculated in the same way for non-current, current and net assets.

Table 2 - Where the average annual asset value comes in handy

Indicator / ratio
	Revenue ÷ Average annual asset value
	Net Income ÷ Average Annual Asset Value
3 Two- and three-factor dupont models	Return on assets \u003d Return on sales × Asset turnover
3 Two- and three-factor dupont models	Return on equity \u003d Return on sales × Asset turnover × Equity multiplier
4 "Golden" rule of enterprise economics	100% < Темп роста среднегодовой стоимости активов < Темп роста выручки < Темп роста чистой прибыли

Average annual asset value: all formulas

Other approaches to calculating the average value of assets by line in the balance sheet

The above formulas for calculating the average annual value of assets by lines in the balance sheet are the most common option. But what if you need to calculate a rate for a period that is longer than one year? Or, for example, do you not like that for calculating the average annual value, only data at the beginning and end of the year are taken and the intermediate values \u200b\u200bbetween these dates are not affected at all? After all, this directly affects the accuracy of the final indicator.

Obviously, judging the average value of assets for the year by only two values \u200b\u200bis like trying to get through to someone and knowing only two digits of their phone number.

In such cases, the chronological average formula for the moment series will help:

X is the average annual value of any indicator, including assets in general, as well as non-current, current and net assets;

n is the number of reporting dates by which the calculation is made.

For example, you decide, from one balance sheet, to calculate the average annual value of assets (A) for two years at once - 2017 and 2018. Then the formula is interpreted as follows:

And if your organization forms a monthly balance sheet (in theory, it should be so), and you decide to calculate the average asset value based on the data of all twelve months of the reporting year, then use the formula:

What information is not included in the balance asset

In reality, the average annual asset value of the firm, according to the accounting data, is most likely higher than that shown in the balance sheet. How is this possible if the balance sheet is brought together by accounts? The reason is the so-called regulating accounts, which reduce the amounts on the balance lines. We will not go into the intricacies of accounting, but simply say what exactly does not fall into the balance sheet, and therefore does not form the average annual value of assets. This will be part of the cost:

Fixed assets and intangible assets, which corresponds to the depreciation charged on them;
Materials, goods, finished products, for which a reserve has been created for reducing the cost of material assets. Such a reserve is created when stocks have hopelessly lost their original characteristics, become obsolete or become much cheaper than the acquisition cost;
Goods in retailers when they are recorded at sales prices. We are talking about the part of the cost that is formed by the trade margin. The margin is the income not yet earned by the enterprise from the future sale of these goods. It is because of his “unearned” that he is excluded from the asset;
Accounts receivable in the amount of the allowance for doubtful debts. If there are debts in the receivables for which the maturity period has expired, there is no collateral and there is a high probability of non-repayment, then a reserve is created. Its value is excluded from the balance sheet, and therefore from the average annual value of assets. This is done so that users of the company's financial statements see the estimate of funds in the calculations as close as possible to reality. That is, the amount that is really expected by the organization to be received in the near future and in which there are no problem debts.

How to find the average annual value of assets - example

Calculating the average annual value of assets is usually not difficult. At the same time, it underlies a rather interesting and at the same time simple methodology for determining the type of enterprise development. Let's see how it is implemented in practice. To do this, you need to calculate:

average annual asset value;
average annual net asset value;
their turnover and profitability.

Calculations are based on data from the balance sheet and the statement of financial results of PJSC Saratov Oil Refinery (NPZ) for 2018.

Table 3 - Extract from the balance sheet, million rubles

Table 4 - Extract from the statement of financial results (OFR), million rubles

Table 5 - Estimated indicators

Index		Growth rate, units

5.1 Average annual value of assets, mln rubles (arithmetic mean of lines 3.1 by years)
5.2 Average annual net asset value, mln rubles (the arithmetic mean of the values \u200b\u200bby years, which are obtained as [line 3.1 - line 3.2 - line 3.3 + line 3.4])
5.3 Asset turnover, turnover (line 4.1 ÷ line 5.1)
5.4 Turnover of net assets, turnovers (line 4.1 ÷ line 5.2)
5.5 Return on assets, p./p. (line 4.2 ÷ line 5.1)
5.6 Return on net assets, p./p. (line 4.2 ÷ line 5.2)
5.7 Geometric mean for the change in turnover, units. (square root of the product of lines 5.3 and 5.4 at column 4)
	√ (1.029 × 1.010)
5.8 Geometric mean for the change in profitability, units. (square root of the product of lines 5.5 and 5.6 at column 4)
	√ (1.299 × 1.275)
5.9 Extensibility coefficient,% ([line 5.7 - 1] ÷ [line 5.8 - 1] × 100)
5.10 Intensity factor,% (100 - line 5.9)

Conclusions:

an increase in the average annual value of assets is always a good sign, which indicates that an enterprise is not “eating up” its capital, but, on the contrary, is increasing it;
comparing the growth rate of the average annual asset value (110.8%) with the growth rate of revenue (114.0%) gives another signal about the development of the enterprise. This is so because each ruble invested in assets provides the organization with an increase in income in the amount of more than one ruble;
the increase in the average annual net asset value of PJSC Saratov Oil Refinery (12.9%) exceeds the increase in property (10.8%). This means that the share of the organization's liabilities is decreasing, and the share of equity capital is growing, because net assets are formed exclusively from their own sources. All this is an indicator of strengthening financial stability;
the average growth rate for asset and net assets turnover indicators is 101.9%, and for profitability - 128.7%. That is, the increase in profit per ruble of property exceeds the increase in income by the same amount. This situation is very desirable for any company. It means that costs are either decreasing or growing more slowly than income, as is the case with the Saratov Refinery;
the ratio of factors of extensive and intensive development in the activities of the enterprise is 6.7% to 93.3%. And this is also a very positive point. It turns out that although new resources are involved in the turnover of the enterprise, business growth is mainly determined not by this, but by an increase in the quality of their use.

Important: when, based on the results of calculations, you get a negative value of the extensiveness coefficient. This happens when profitability declines amid growing turnover. How to interpret this situation? How extremely negative. In this case, do not be confused by the significant value of the intensity factor, which will also exceed 100%. Remember that this technique is inherently distorted. The general rule for using it is as follows: both coefficients should ideally be positive, and the intensity value should be at least 50%.

Book value of property

Economists analyze book values \u200b\u200bbased on research objectives. For example, when it is necessary to find out the size of the balance of the property as a whole for the section or for each position separately, determine the dynamics (growth or decrease in the value of assets) and, based on a comparison of absolute indicators, draw conclusions about the state of working capital at a certain date. In addition to internal users of information available in financial statements, companies are required to inform various external users - founders, creditors, insurers, investors, providing them with various information, including the availability of assets.

Where the book value is used

Information on the book value of assets is very necessary in the analysis of the economic activity of the company - the main tool in assessing the production and financial condition of the company. Using this indicator, intra-firm coefficients are calculated:

▪ return on assets, which determines the amount of profit earned for each ruble invested in the purchase of raw materials and production;

▪ the turnover of assets, indicating the efficiency of their use.

Comparing the initial and final values \u200b\u200bthat determine the cost, the economist can draw conclusions about the growth or decrease in the amount of circulating property in monetary terms for a given period, determine the relative values \u200b\u200bcharacterizing the growth rates of indicators of each line in the second section of the balance sheet. However, the figures only provide information on the availability of property on a certain date, not always reflecting the real picture, since the intensity of work in the life of the enterprise is not the same, and this leads to uneven procurement and the consumption of working capital, for example, in companies that depend on the seasonality of cycles. It is more expedient to analyze the state of assets for short periods of time, or to calculate such an indicator as the average annual cost of working capital. The value of this indicator is calculated for the production of many economic calculations.

Why is the average annual cost of working capital calculated?

A detailed analysis of changes in the structure and composition of property, including circulating assets, is impossible without calculating the average cost of property for the year. How is the average annual value of working capital calculated? Analysts refer to balance sheet line 1200, and if it is necessary to calculate any one type of property, for example, stocks, to the line corresponding to this position. The calculation formula is as follows:

O cf \u003d (O n + O k) / 2,

where O n - the amount of working capital at the beginning of the analyzed period, O k - at the end of the period, 2 - the number of reporting dates.

Calculation example

Let's take an example of how the average annual cost of working capital is calculated (the formula for the balance sheet). The initial data are presented in the table of balance values \u200b\u200bof circulating assets.

Let's calculate the value using the above formula based on the balance data:

About av \u003d (8411 + 9300) / 2 \u003d 8856 thousand rubles. - the average current assets for the year (line in the balance sheet 1200) amounted to 8856 thousand rubles.

Using the same calculation algorithm, the average annual cost of working capital (thousand rubles) is calculated for the positions:

▪ reserves (line 1210) - About av \u003d (5200 + 5450) / 2 \u003d 5325 thousand rubles;

▪ VAT on purchased materials - О avg \u003d (242 + 210) / 2 \u003d 226 thousand rubles;

▪ accounts receivable - About av \u003d (510 + 620) / 2 \u003d 565 thousand rubles;

▪ cash - About av \u003d (2460 + 3020) / 2 \u003d 2740 thousand rubles.

The average annual cost of working capital, the formula for calculating which is presented in the review, is used by economists to calculate coefficients that demonstrate the financial condition of the company, the level of stability, as well as determine the reasons (positive and negative) that led to changes. Based on the conclusions of analysts, the company's management makes decisions on the further management of available resources.

Chronological mean calculus formula

A kind of arithmetic mean, to which the indicator of the average annual value belongs, is the chronological average, calculated by the totality of values \u200b\u200bat different moments or for different periods of time. In mathematics, it is used to find the average level in time series. In accounting, the chronological average characterizes in more detail the cost of an individual asset at regular intervals. The calculation formula is as follows:

O cf / xp \u003d (½ x O 1 + O 2 + O 3 + .... + O n -1 x ½) / n-1, where

О is the balance for a certain date, n is the number of reporting dates.

Calculation of the average chronological

Returning to the example presented above, let's supplement the initial data on the cost of inventories at the beginning of each month:

Let's calculate the average chronological for the MPZ quarterly for 2016:

1 sq. About av / xp \u003d (1/2 x 5200 + 4960 + 5460 + ½ x 5530) / 4-1 \u003d 5261.66 thousand rubles;

2 sq. About av / xp \u003d (1/2 x 5530+ 5360 + 4980 + ½ x 4890) / 4-1 \u003d 5183.33 thousand rubles;

3 sq. About av / xp \u003d (1/2 x 4890 + 4780 + 4980 + ½ x 5180) / 4-1 \u003d 4931.66 thousand rubles;

4 sq. About av / xp \u003d (1/2 x 5180 + 5450 + 5550 + ½ x 5450) / 4-1 \u003d 5438.33 thousand rubles;

Thus, the average size of reserves for the 1st quarter is 5261.66 thousand rubles, for the second - 5183.33 thousand rubles, for the third - 4931.66 thousand rubles, for the fourth - 5438 , 33 thousand rubles. Analyzing the resulting numerical series, the economist can conclude that there are reserves in each quarter, establish the dynamics of changes depending on the company's activities or industry. By calculating the average chronological value, the values \u200b\u200bof the indicators are undoubtedly more accurate. These values, used in economic calculations, provide the most realistic indicators. This is important primarily for internal users - the company's management. External users are quite satisfied with the absolute indicators of the book value of assets.

Calculation of the turnover ratio

A generalizing indicator of the use of working capital in a company is the turnover ratio, defined as the ratio of turnover (revenue) to the average cost of working capital for the year:

K rev / r \u003d B: O avg, where V is revenue, O avg is the average annual cost of working capital. The formula shows the number of perfect revolutions of the average balance of funds invested in current assets during the production process.
Using the above example and supplementing it with information from the Profit and Loss Statement on the amount of revenue (326,000 thousand rubles), we calculate the turnover ratio:

K about \u003d 326,000 / 8856 \u003d 36.8 times, that is, during the year the funds invested in production in the amount of the average balance turn over 36.8 times.

In addition, the turnover is calculated in days, that is, they find out for how many days the company will receive revenue, equal to the indicator as the average annual cost of working capital. The calculation is carried out according to the formula:

K rev / dn \u003d 365 / K rev / r.

K rev / day \u003d 365 / 36.8 \u003d 9.92 days it will take a company to receive revenue in the amount of the average cost of working capital for the year.

Normal value of coefficients

For the turnover values, no general standard values \u200b\u200bhave been established.
Ratios are usually analyzed in dynamics or in comparison with similar industry companies. We only note that a very low ratio indicates an excessively accumulated working capital, which should intensify the work to increase the liquidity of assets.