Current assets turnover ratio formula. Working capital statistics. Normative value of turnover of working capital

Explanation of the essence of the indicator of turnover of working capital

Current Asset Turnover (English analogue - Current Asset Turnover) is an indicator of business activity that measures the efficiency of using the company's current assets (cash, stocks of goods, inventories, receivables). The ratio shows the ratio of revenue and the average amount of current assets for the period. The value of the indicator indicates the number of turnovers that current assets have made. In fact, an increase in the value of the indicator indicates that the company needs fewer resources in order to maintain the current level of activity. This leads to the release of part of the financial resources that can be directed to the intensification of current activities. A decrease in turnover leads to an increase in the need for financial resources. In the absence of access to cheap financial resources, this will lead to an increase in the financial costs of the company.

Normative value of turnover of working capital:

The value of the indicator fluctuates, depending on the field of activity of the company, therefore, there is no such standard value. A higher value compared to competitors indicates the intensive use of current assets. The increase in the indicator during the study period is a good sign, as it indicates the company's ongoing work to improve the policy of managing inventory, receivables, cash and other current assets.

Directions for solving the problem of finding an indicator outside the normative limits

If the value of the indicator is low, then the reserves for its increase can be as follows:

Reducing the amount of inventories to the minimum allowable level, which will ensure the continuity of the operational process;

Stimulating sales and reducing the amount of stocks of finished products and goods;

Implementation of measures to accelerate the repayment of receivables;

The formula for calculating the turnover of working capital:

Asset turnover (for the year) = Revenue (Net income) / Average annual volume of current assets (1)

As in the case of other annual averages, it must be remembered that there are several ways to calculate the average annual amount of current assets. If there is access to the company's internal information, then you should find the average based on the value of the indicator at the end of each business day. If there is monthly reporting, then the value of the indicator at the end of each month is used. If there is only annual reporting, then the value at the beginning of the study period and at the end of the study period is used.

The formula for calculating the average annual amount of current assets:

The average annual volume of current assets (the most correct way) = The sum of the volumes of current assets at the end of each working day / Number of working days (2)

Average annual volume of current assets (if only monthly data is available) = Sum of volumes of current assets at the end of each month / 12 (3)

Average annual assets (when only annual data are available) = (Assets at the beginning of the year + assets at the end of the year) / 2 (4)

An example of calculating the turnover of working capital:

JSC "Web-Innovation-plus"

Unit of measurement: thousand rubles

Turnover of current assets (2016) = 900 / (134/2 + 122/2) = 7.03

Turnover of current assets (2015) = 885 / (122/2 + 110/2) = 7.63

The data obtained show that the effectiveness of the use of current assets by the company "Web-Innovation-plus" is declining. If in 2015, for each ruble of current assets, goods and services were sold in the amount of 7.63 rubles, then in 2016 - only 7.03 rubles. The main factor behind the decrease in the indicator is the constant increase in the amount of accounts receivable for goods and services. Given that sales have remained relatively stable over the study period, an increase in receivables for goods and services is a negative development. To increase the turnover of current assets, it is necessary to take measures to return the company's funds. To eliminate the risk of a problem in the future, it is necessary to develop a comprehensive strategy for commercial lending to clients. As part of the strategy, it is necessary to divide all buyers into groups, depending on the history of cooperation, their financial condition and their importance to the company. The main share of commodity (commercial) loans should fall on the most reliable and important customers.

DEFINITION

Reflects the degree of rationality and intensity of use of enterprise resources.

The formula for the turnover ratio of working capital shows the amount of proceeds from the sale, which falls on each ruble of the company's working capital. This indicator clearly reflects the return that is received from the use of working capital.

The formula for the working capital turnover ratio is as follows:

Kobor. = RP/SOc,

Here is Kobor. - turnover rate

RP - sold products for the reporting period (excluding VAT),

SOc - the average cost of working capital for the reporting period.

The working capital turnover ratio formula is an important tool for analyzing the effectiveness of any enterprise using all the resources at its disposal.

Indicators of the turnover ratio of working capital

The indicators that are used in the working capital turnover formula are reflected according to accounting data. For the calculation you will need information from:

• Balance sheet (form No. 1),
• Profit and loss statement (Form No. 2).

It is necessary to use documents for the period of time that is being studied. Most often, the calculation is made for the year (12 months), that is, the information is taken from the annual financial statements.

RP or the volume of sold products is reflected in line 2110 in the Profit and Loss Statement. This line shows the net proceeds from the sale of products (services) of the enterprise.

CO or the average cost of working capital can be calculated by the ratio of the cost of working capital that were available at the beginning and end of the period under review:

CO \u003d (COnp + CO kp) / 2

Data on the average cost of current assets can be taken from the balance sheet in line 1200, which summarizes the section "Current assets". This amount reflects all the working capital of the company:

• stocks,
• cash,
• receivables,
• short-term financial investments, etc.

The value of the turnover ratio of working capital

For various industries in which the company operates, the turnover ratio of working capital will be different. Trade organizations have the highest indicator due to the specifics of their activities (quick receipt of revenue). Organizations working in the field of science and culture have the lowest turnover rate.

For this reason, it is necessary to conduct an analysis, comparing the turnover of working capital, only for those enterprises that operate in the same industry.

The value of the turnover ratio of working capital is determined by the following factors:

• the pace and volume of production, the duration of the production cycle;
• the type of raw materials used;
• qualifications of employees;
• the nature of the activities of enterprises.

Analysis and increase in the turnover ratio

If the value of the turnover ratio of current assets is more than one, we can talk about the profitability of the enterprise. If the coefficient exceeds the value of 1.36, then the enterprise can be considered super profitable.

It is important to conduct a study in dynamics of changes in the turnover ratio of working capital, considering the coefficients for several periods and comparing them with each other. Often, for the purpose of clarity, special tables are used that make it easy to track changes and draw a conclusion.

The reasons for the increase in the turnover ratio of working capital may be:

• growth in sales and profits;
• increasing the efficient use of resources;
• general increase in the level of work of the enterprise;
• decrease in the level of working capital;
• introduction of innovations and progressive technologies.

Examples of problem solving

EXAMPLE 1

Turnover ratios or business activity of the enterprise- show the effectiveness of the use by the enterprise (organization) of its capital and funds. These ratios show the rate of capital turnover and its transformation into cash. Turnover ratios directly determine the degree of solvency of the enterprise (the ability to pay for its obligations), financial stability and financial risk. Turnover ratios in their calculations do not use net profit as profitability ratios, but proceeds from the sale of goods and services. This allows you to evaluate not the profitability of the enterprise, but its intensity and speed of turnover of resources, assets, stocks, cash, receivables and payables.

This article will consider the main enterprise turnover ratios most commonly used in financial practice, such as:

1. Asset turnover ratio
2. Equity turnover ratio
3. Current assets turnover ratio
4. Inventory and asset cost turnover ratio
5. Accounts receivable turnover ratio
6. Accounts payable turnover ratio
7. Cash turnover ratio

The asset turnover ratio is the ratio of revenue from products sold to all assets of the enterprise. This ratio shows the efficiency of using assets and shows the number of turnovers of the entire capital for the period and the amount of money that a unit of assets brought.

There are no standard values ​​for the asset turnover ratio, so it is necessary to directly investigate the dynamics of this indicator over time for one enterprise or industry. In capital-intensive industries, asset turnover will be lower than in the areas of trade. The higher the asset turnover ratio, the more efficient the use of assets. This indicator differs from the return on assets indicators in that it does not show the profitability of the enterprise, but characterizes the intensity of turnover. Therefore, in the turnover formulas, not net profit is used, but the company's revenue for the reporting period. The formula for calculating the asset turnover ratio is as follows:

Asset turnover ratio= Sales revenue / Average assets for the period

Asset turnover ratio\u003d p. 10 Form No. 2 / (0.5 * (p. 300 beginning of the year + p. 300 end of the year))

The equity turnover ratio is calculated as the ratio of the volume of product sales (revenue) to the average annual cost of equity. The equity turnover ratio shows the activity and rate of use of equity by the enterprise.
There are no normative values ​​of the equity turnover ratio, it is necessary to investigate the dynamics of this indicator for one enterprise. The formula for calculating the equity turnover ratio is as follows:

Equity turnover ratio= Revenue from product sales / Average cost of equity for the period

Equity turnover ratio= line 10 Form No. 2 / 0.5 * (line 490 at the beginning of the year + line 490 at the end of the year)

The turnover ratio of current assets shows the activity of use and the speed of circulation of current assets. This coefficient characterizes how much current assets made a full turnover in one year and how much revenue they brought. Current assets include accounts receivable, cash, reserves and deferred expenses, short-term financial investments. The higher the value of this ratio, the more efficient the enterprise. The formula for calculating the turnover ratio of current assets:

Current assets turnover ratio= Net proceeds from product sales / Average annual value of current assets

Current assets turnover ratio= line 10 Form No. 2 / 0.5 (line 290 at the beginning of the year + line 290 at the end of the year)

The inventory turnover and asset cost ratio shows the intensity of inventory use and the rate of turnover.
There are no standard values ​​for the turnover ratio. This indicator must be analyzed in dynamics for a particular enterprise or industry. A decrease in the turnover ratio indicates that the accumulation of excess stocks in the warehouses of the enterprise. The higher the inventory turnover ratio and asset costs, the higher the activity of the enterprise in creating cash. Excessively high inventory turnover and asset costs are indicative of severe inventory shortages and rapid depletion. The formula for calculating the inventory turnover ratio and asset costs:

Inventory and asset cost turnover ratio= Net revenue from product sales / Average annual inventory value

Inventory and asset cost turnover ratio\u003d p. 10 Form No. 2 / 0.5 * [(p. 210 + p. 220) at the beginning of the year + (p. 210 + p. 220) at the end of the year]

The accounts receivable turnover ratio shows the rate of turnover of accounts receivable. There are no clear standard values ​​for the receivables turnover ratio, they vary depending on the industry, but the higher the ratio, the faster consumers repay their obligations, which is beneficial for the enterprise. The formula for calculating the receivables turnover ratio is as follows:

Accounts receivable turnover ratio= Revenue from the sale of goods and services / Average annual receivables

Accounts receivable turnover ratio\u003d p. 10 Form No. 2 / 0.5 * [(p. 230 + p. 240) at the beginning of the year + (p. 230 + p. 240) at the end of the year]

The accounts payable turnover ratio shows the speed and intensity of repayment of the company's obligations to borrowers and characterizes the number of turnovers of repayment of accounts payable for the reporting period, which, as a rule, is one year. The normative value of the accounts payable turnover ratio depends on the industry and the nature of the enterprise. The formula for calculating the accounts payable turnover ratio is as follows:

Accounts payable turnover ratio= Revenue from the sale of goods and services / Average accounts payable

Accounts payable turnover ratio= line 10 Form No. 2 / 0.5 * (line 620 at the beginning of the year + line 620 at the end of the year)

The cash turnover ratio shows the intensity of the use of the company's cash and shows the number of turnovers for the reporting period. The formula for calculating the cash turnover ratio is as follows:

Cash turnover ratio= Revenue from the sale of goods and services / Average amount of cash

Cash turnover ratio= line 10 Form No. 2 / 0.5 * (line 260 at the beginning of the year + line 260 at the end of the year)

findings
Turnover ratios are an important indicator of the efficiency of the use of resources by an enterprise. These indicators, in contrast to profitability indicators, show the turnover rate and intensity, because in their calculation formulas they use revenue values ​​(rather than net profit, as in profitability ratios). Turnover ratios are examined in dynamics to analyze the direction and assess the nature of their change for one enterprise, a group of similar enterprises and one industry.

The efficiency of the use of working capital is determined mainly by the indicators of their turnover. The value of the acceleration of turnover of working capital is as follows:

The acceleration of turnover, ceteris paribus, allows you to provide the same volume of sales, while using a smaller amount of funds.

Accelerated turnover allows you to get more profit.

Accelerated turnover allows you to reduce the need for borrowed funds, or use the released cash for highly profitable short-term investments.

Turnover acceleration allows you to increase the profitability of current assets.

Indicators

The turnover ratio (rate of turnover) - expresses the number of revolutions that current assets make during the analyzed period. Fast turnover of funds allows enterprises to receive significant profit from current activities even with a small volume of production.

This coefficient is calculated as the ratio of the volume of manufactured (sold) products in value terms to the average value of the balance of working capital.

Period of turnover (or the duration of one turnover of working capital)

It is calculated as the ratio of the number of days in the analyzed period to the turnover ratio.

Working capital fixation coefficient (load factor) - is the reciprocal of the turnover ratio and shows how much working capital falls on 1 ruble of manufactured or sold products.

The effect of accelerating the turnover of working capital is reflected in the indicators of their release or additional involvement in turnover.

The absolute release of working capital occurs when there is a performance or overfulfillment of the production program. The relative release of working capital is calculated using the following formula:

25. Labor resources, personnel and personnel of the enterprise.

The staff of the enterprise is the main composition of qualified employees of the enterprise, firm, organization. Typically, the personnel of the enterprise are divided into production personnel and personnel employed in non-production units.

Production personnel - workers engaged in production and its maintenance - make up the bulk of the workforce of the enterprise.

The largest and main category of production personnel is the working enterprises (firms) - persons (workers) directly involved in the creation of material values ​​or in the provision of production services and the movement of goods. Workers are divided into main and auxiliary. The main workers include workers who directly create commercial products of enterprises and are engaged in the implementation of technological processes, that is, changing the shape, size, position, condition, structure, physical, chemical and other properties of objects of labor.

Auxiliary workers include workers engaged in the maintenance of equipment and jobs in production workshops, as well as all workers of auxiliary workshops and farms.

Auxiliary workers can be divided into functional groups: transport and loading, control, repair, tool, economic, warehouse, etc.

Managers - employees occupying managerial positions at the enterprise (director, foreman, chief specialist, etc.).

Specialists - employees with higher or secondary specialized education, as well as employees who do not have special education, but occupy a certain position.

Employees - employees involved in the preparation and execution of documents, accounting and control, economic services (agents, cashiers, clerks, secretaries, statisticians, etc.).

Junior service personnel - persons holding positions for the care of office premises (janitors, cleaners, etc.), as well as for servicing workers and employees (couriers, messengers, etc.).

The ratio of various categories of workers in their total number characterizes the structure of the personnel of the enterprise, workshop, section. The structure of personnel can also be determined by such characteristics as age, gender, level of education, length of service, qualifications, degree of compliance with standards, etc.

The professional and qualification structure of personnel is formed under the influence of the professional and qualification division of labor. A profession is usually understood as a type (kind) of labor activity that requires certain training. Qualification characterizes the extent to which employees master this profession and is reflected in qualification (tariff) grades and categories. Tariff categories and categories are also indicators characterizing the level of complexity of work. In relation to the nature of the professional preparedness of workers, such a concept as a specialty is also used, which determines the type of labor activity within the same profession (for example, the profession is a turner, and the specialties are turner-borer, turner-carousel). Differentiation in specialties for the same working profession is most often associated with the specifics of the equipment used.

26. Quantitative characteristics of the personnel of the enterprise. The quantitative characteristics of the personnel of the enterprise are measured by indicators of the payroll, average payroll and attendance number of employees.

The payroll reflects the movement of the number of all employees - hiring and dismissal from it, etc. It takes into account all permanent and temporary employees, including employees on business trips and holidays, employed on a part-time or part-time basis, as well as those with whom they have an employment relationship. To determine the number of employees for a specific period, an indicator of the average headcount is calculated, which is used in calculating the average labor productivity, average wages, staff turnover, etc. To calculate it, use accounting data on timesheets.

The number of employees who are actually at work during a certain day is understood as an attendant composition.

Determining the number of personnel

Determining the need for personnel in an enterprise (firm) is carried out separately for groups of industrial and non-industrial personnel. The initial data for determining the number of employees are: production program; norms of time, production and maintenance; nominal (real) working time budget for the year; measures to reduce labor costs, etc.

The main methods for calculating the quantitative need for personnel are calculations of the labor intensity of the production program; production standards; service standards; jobs.

1. Calculations of the population standard (Nch) according to the labor intensity of the production program. When using this method, the total labor intensity of the production program (ltr. pol.) is determined as the sum of the labor intensity of technological (ltr. tech.), maintenance (ltr. obs.) and management (ltr. control): ltr. floor. = ltr. those. +ltr. obs.

Ltr. ex. The sum of the first two terms reflects the labor costs of the main and auxiliary workers and, accordingly, forms the actual production labor intensity (ltr. pr.), and the third reflects the labor costs of employees. 2. According to production standards. Loc = Qvyp / (Nv * Teff), where Qvyp is the amount of work performed in the accepted units of measurement; Nv - planned rate of output per unit of working time; Teff is an effective working time fund.

3. According to the standards of service. is used to determine the number of key workers whose activities are difficult to ration. This applies to workers who control units, furnaces, apparatuses, machines and other equipment and control the course of technological processes. The average number of workers is calculated by the formula: Lр =n* Lр. ag * h * (Tc. pl. / Tc. f.), where n is the number of working units; Lr. ag. - the number of workers required to service one unit during the shift; Tc. sq. - the number of days of operation of the unit in the planned

period; Ts. f. - the actual number of days of work.

4. According to workplaces, it is used when planning the number of those groups of auxiliary workers for whom neither the amount of work nor service standards can be established, since their work is performed at certain

workplaces and is associated with a specific service object (crane operator, storekeeper, etc.). In these cases, the calculation is carried out according to the formula: Lvs = Nm * h * ksp, where Nm is the number of jobs; h is the number of shifts per day; ksp - payroll coefficient.

The number of service personnel can also be determined according to aggregated service standards, for example, the number of cleaners can be determined by the number of square meters of floor space, cloakroom attendants - by the number of people served, etc. The number of employees can be determined based on an analysis of industry average data, and in their absence - according to the standards developed by the enterprise. The number of managers can be determined taking into account the norms of manageability and a number of other factors.

27. Qualitative characteristics of the personnel of the enterprise The qualitative characteristics of the personnel (personnel) of the enterprise is determined by the structure of personnel, the degree of professional and qualified suitability of employees to achieve the goals of the enterprise and perform the work performed by it. When determining the structure of personnel, employees are singled out who are engaged in the main and non-main activities. Employees of the enterprise, directly related to the main activity (manufacturing of products), are the industrial and production personnel of the enterprise. In addition to them, any enterprise has employees who are not directly related to the core activities of the enterprise, i.e., are engaged in non-core activities (employees of health care institutions, public catering, culture, trade, auxiliary agricultural facilities, etc.). Employees engaged in non-core activities constitute the non-production personnel of the enterprise. The employees of industrial and production personnel include employees of the main, auxiliary, auxiliary and maintenance shops (see below), research, design, technological organizations and laboratories, plant management, services engaged in overhaul and current repairs of equipment and vehicles. Employees of industrial and production personnel are divided into workers and employees. Workers include people directly involved in the production of material values, as well as the maintenance of this production. Workers are divided into main and auxiliary. The main workers are employed in the subdivisions of the main production, which produce core products, while the auxiliary workers work in subdivisions of an auxiliary, secondary, servicing, auxiliary nature, ensuring the smooth operation of all subdivisions (inter-shop, intra-shop transport, warehousing, etc.) .

Employees include employees of the following three categories: managers, specialists and employees themselves. Managers are considered to be employees who head the enterprise and its structural divisions, as well as their deputies and chief specialists (chief accountant, chief engineer, chief mechanic, chief technologist, chief power engineer, chief metallurgist, chief metrologist, etc.). Specialists include employees performing engineering, economic, accounting, legal and other similar activities. The actual employees include employees involved in the preparation and execution of documentation, accounting and control, economic services (timers, accountants, secretaries, clerks, etc.). Along with the structure of the personnel, the qualitative indicators of the personnel include the professional and qualification suitability of the personnel, which is determined by the profession, specialty and skill level of the employees of the enterprises. A profession is a special type of activity that requires certain theoretical knowledge and practical skills. A specialty is a type of activity within one profession that has specific features and requires additional special knowledge and skills from employees) A ​​high degree of qualification is fixed by assigning the appropriate qualification categories (tariff categories) to the employee, which characterize not only the complexity of the work performed within the profession and specialty, but also the degree of remuneration through the tariff coefficients corresponding to the tariff categories (the higher the tariff category, the higher the tariff coefficient and wages). At a particular enterprise, the professional qualification structure is reflected in a special document approved annually by the head of the enterprise and representing a list of positions and specialties for each division (department, workshop, section, etc.). This document is called the staffing table.