Reporting / 04.09.2021

The return on assets represents. How to calculate the return on assets of fixed assets according to the balance sheet of the enterprise. What determines the return on assets

For industrial enterprises, the most important factor in the analysis of financial and economic activity is the assessment of the return on investment. The fixed assets of the organization are non-current assets, that is, the funds invested in their purchase will be returned in stages, over several production cycles. Accordingly, the more efficiently they are used, the faster the company returns the invested own or borrowed financial resources. Founders, credit organizations, owners, when assessing the activities of an enterprise, consider indicators that characterize fixed assets. These include capital productivity, return on assets, capital-labor ratio and capital intensity.

Characteristics of the rate of return on assets

To calculate the coefficient "capital productivity" the formula is applied unified, the calculated values of the mathematical components can be adjusted depending on the purposes of calculating the indicator. The main rule for a correct analysis of the return on investment is to track the dynamics of the value obtained. For comparison, the base value can be used, taken as a single positive level for a particular enterprise, or the indicators of the current calendar period are compared with the previous one. Also, a prerequisite for the objectivity of the obtained coefficient are the units of measurement used in the calculation; they should not change in the compared periods (most often it is a thousand rubles). The procedure for calculating the "return on assets" indicator - the formula for calculating this coefficient - implies that it refers to the values characterizing the turnover of non-current assets. Similarly, the rate of renewal, inventory, accounts receivable, IBE, and other types of assets involved in the production process is calculated.

Factors affecting the return on assets

The value of the coefficient, which indicates the level of turnover of the OPF, is significantly influenced by a number of factors:

The volume of products sold in a certain period (in some cases, the indicator of manufactured, released products is taken into account).
The performance of the main active part of the equipment.
Reduction of downtime, reduced work shifts, days.
The level of technical excellence of equipment and machines.
OPF structure.
Equipment utilization level.
Increase in labor productivity and non-current assets.

The formula for calculating the return on assets

The coefficient is calculated as the ratio of the output, produced (sold) of the enterprise to the cost of the production facility, as a result, an indicator is obtained, which indicates how much production is produced (sold) per unit of funds invested in the production facility. Let's look at a generalized calculation of the "return on assets" indicator. The calculation formula has the following form: Фо = Вр / Sof, where Фо is the total capital productivity; Vpr - manufactured products for the selected period; Sof - the cost of fixed assets. This version of the calculation is used to obtain a generalized indicator, which must be calculated for all production units, otherwise it will be necessary to specify the elements of the numerator and denominator.

Denominator adjustment

The formula for return on assets in the denominator contains such a value as the cost of fixed assets. The numerator and denominator values must reflect the actual calculated data to obtain the correct indicator. The cost of fixed assets can be calculated as follows: OCav = OCn + OCK / 2, that is, the book value of the OPF at the beginning of the period is summed up with the data at the end of the period, then the resulting value is divided by 2 (to obtain the arithmetic average). It is possible to expand and concretize this number by including in the calculation the cost of assets acquired during the period, retired as a result of sale or complete depreciation. The same indicator changes in case of revaluation of funds. Many analysts prefer to use the residual value of the asset - it can be defined as the difference between the book price at a certain moment (account 01 in the balance sheet) and the depreciation amount of the asset (balance sheet account 02) accrued for the entire period of operation.

When taking into account the structure of the OPF, only active (participating in the production process) fixed assets are taken into the formula for calculating the return on assets, that is, machines, machines, equipment, depending on the specialization of the enterprise. The funds of the enterprise that are on the reservation, leased, modernized and not operated during the analyzed period are subtracted from the total cost. As part of the fixed asset, it is necessary to take into account the leased or leased pieces of equipment. They can be reflected in off-balance accounts, so their value does not fall on account 01, which affects the receipt of incorrect data when analyzing such an indicator as capital productivity. The formula, or rather its denominator, must be increased by the value of the leased property.

Adjusting the numerator

To calculate the return on assets ratio (the general formula was discussed above), the volume of products produced for a certain period can be structured by divisions, by types of goods. In this case, the indicators of the volume of output should be correlated with the cost of fixed assets employed in the production of a particular type of product.

Analysis of the rate of return on assets

The coefficient obtained when calculating the return on assets is analyzed by comparison with similar data obtained in other periods, or with the level of the planned indicator. The dynamics of the values will show an increase or decrease in the operating efficiency of the OPF. Positive dynamics speaks of the competent use of fixed assets, which leads to an increase in production, and, consequently, sales (in the case of a stable level of demand). Lowering the estimated level of the rate of return on assets is not always a negative aspect of the enterprise. Therefore, it is recommended to carefully weigh all the factors affecting its value. To increase the return on assets, if it is objectively necessary, several methods are used.

Ways to increase the return on assets

To increase the rate of return on assets, it is necessary to improve the efficiency of OS functioning at the current performance indicators. There are the following ways:

Reduced equipment downtime by organizing multiple work shifts.
Incentives for personnel - a direct dependence of wages on production is introduced.
Improving the technical level of personnel - will make it possible to avoid downtime by reducing the number and time of repairs.
Modernization of equipment, commissioning of more technologically advanced machines.
Sale of mothballed equipment, decommissioning of machines with a high level of physical wear and tear or obsolete.

These methods will allow to gradually increase the economic result from investing financial flows in fixed production assets, without cutting back

Characteristics of the rate of return on assets

Factors affecting the return on assets

The value of the coefficient, which indicates the level of turnover of the OPF, is significantly influenced by a number of factors:

The volume of products sold in a certain period (in some cases, the indicator of manufactured, released products is taken into account).
The performance of the main active part of the equipment.
Reduction of downtime, reduced work shifts, days.
The level of technical excellence of equipment and machines.
OPF structure.
Equipment utilization level.
Increase in labor productivity and non-current assets.

The formula for calculating the return on assets

The coefficient is calculated as the ratio of the output, produced (sold) of the enterprise to the cost of the production facility, as a result, an indicator is obtained, which indicates how much production is produced (sold) per unit of funds invested in the production facility. Let's look at a generalized calculation of the "return on assets" indicator. The calculation formula has the following form: Фо = Вр / Sof, where Фо is the total capital productivity; Vpr - manufactured products for the selected period; Sof - the cost of fixed assets. This calculation option is used to obtain a generalized indicator, which must be calculated for all production units, otherwise it will be necessary to specify the elements of the numerator and denominator.

Denominator adjustment

The formula for capital productivity in the denominator contains such a value as the cost of fixed assets. The numerator and denominator values must reflect the actual calculated data to obtain the correct indicator. The cost of fixed assets can be calculated as follows: OSav = OSn + OSk / 2, i.e. the book value of the OPF at the beginning of the period is summed up with the data at the end of the period, then the resulting value is divided by 2 (to obtain the arithmetic average). It is possible to expand and concretize this number by including in the calculation the cost of assets acquired during the period, retired as a result of sale or complete depreciation. The same indicator changes in case of revaluation of funds. Many analysts prefer to use the residual value of the asset - it can be defined as the difference between the book price at a certain moment (account 01 in the balance sheet) and the depreciation amount of the asset (balance sheet account 02) accrued for the entire period of operation. When taking into account the structure of the OPF, only active (participating in the production process) fixed assets are taken into the formula for calculating the return on assets, that is, machines, machines, equipment, depending on the specialization of the enterprise. The funds of the enterprise that are on the reservation, leased, modernized and not operated during the analyzed period are subtracted from the total cost. As part of the fixed asset, it is necessary to take into account the leased or leased pieces of equipment. They can be reflected in off-balance accounts, so their value does not fall on account 01, which affects the receipt of incorrect data when analyzing such an indicator as capital productivity. The formula, or rather its denominator, must be increased by the value of the leased property.

Adjusting the numerator

The volume of products produced in the analyzed period is necessarily corrected for the amount of taxes, that is, VAT and the amount of excise taxes paid are deducted from the total volume of goods sold. The products sold in total terms are indexed to the inflation rate to obtain comparable indicators. It is possible to use the average contractual prices for products sold to calculate the return on assets. To calculate the rate of return on assets (the general formula was discussed above), the volume of products released for a certain period can be structured by divisions, by types of goods. In this case, the indicators of the volume of output should be correlated with the cost of fixed assets employed in the production of a particular type of product.

Analysis of the rate of return on assets

Ways to increase the return on assets

To increase the rate of return on assets, it is necessary to improve the efficiency of OS functioning at the current performance indicators. There are the following ways:

Reduced equipment downtime by organizing multiple work shifts.
Incentives for personnel - a direct dependence of wages on the output of products is introduced.
Improving the technical level of personnel - will make it possible to avoid downtime by reducing the number and time of repairs.
Modernization of equipment, commissioning of more technologically advanced machines.
Sale of mothballed equipment, decommissioning of machines with a high level of physical wear and tear or obsolete.

These methods will make it possible to gradually increase the economic result from investing financial flows in fixed production assets, without cutting down on production costs.

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% D0% 9F% D1% 80% D0% BE% D0% B8% D0% B7% D0% B2% D0% B5% D1% 81% D1% 82% D0% B8% 20% D0% B2% D1% 8B % D1% 87% D0% B8% D1% 81% D0% BB% D0% B5% D0% BD% D0% B8% D1% 8F% 20% D0% BF% D0% BE% D0% BC% D0% BE % D0% B3% D1% 83% D1% 82% 20% D0% B4% D0% B0% D0% BD% D0% BD% D1% 8B% D0% B5% 20% D0% B1% D1% 83% D1 % 85% D0% B3% D0% B0% D0% BB% D1% 82% D0% B5% D1% 80% D1% 81% D0% BA% D0% BE% D0% B3% D0% BE% 20% D0 % BE% D1% 82% D1% 87% D0% B5% D1% 82% D0% B0% 20% E2% 84% 96% 201% D0% B8% 20% E2% 84% 96% 202.% 20% D0% A4% D0% BE% D0% BD% D0% B4% D0% BE% D0% BE% D1% 82% D0% B4% D0% B0% D1% 87% D0% B0,% 20% D1% 84 % D0% BE% D1% 80% D0% BC% D1% 83% D0% BB% D0% B0% 20% D1% 80% D0% B0% D1% 81% D1% 87% D0% B5% D1% 82 % D0% B0% 20% D0% BF% D0% BE% 20% D0% B1% D0% B0% D0% BB% D0% B0% D0% BD% D1% 81% D1% 83% 20% D0% BA % D0% BE% D1% 82% D0% BE% D1% 80% D0% BE% D0% B9% 20% D0% BF% D0% BE% D0% B7% D0% B2% D0% BE% D0% BB % D1% 8F% D0% B5% D1% 82% 20% D1% 81% D0% B4% D0% B5% D0% BB% D0% B0% D1% 82% D1% 8C% 20% D0% B2% D1 % 8B% D0% B2% D0% BE% D0% B4% D1% 8B% 20% D0% BE% 20% D1% 81% D0% BE% D1% 81% D1% 82% D0% BE% D1% 8F % D0% BD% D0% B8% D0% B8% 20% D1% 84% D0% B0% D0% BA% D1% 82% D0% BE% D1% 80% D0% BE% D0% B2% 20% D0 % BF% D1% 80% D0% BE% D0% B8% D0% B7% D0% B2% D0% BE% D0% B4% D1% 81% D1% 82% D0% B2% D0% B0,% 20% D0% B8% D0% BC% D0% B5% D0% B5% D 1% 82% 20% D1% 82% D0% B0% D0% BA% D0% BE% D0% B9% 20% D0% B2% D0% B8% D0% B4:

% D0% A4% 20 =% 20% D1% 81.% 2021 10% 20% D1% 84.% 202 / (% D1% 81.1150% 20% D0% BD% D0% B0% D1% 87.% 20% D1 % 84.% 201% 20 +% 20% D1% 81.% 201150% 20% D0% BA% D0% BE% D0% BD.% 20% D1% 84.% 201) / 2

% D0% 9F% D0% BE% 20% D1% 81% D0% B2% D0% BE% D0% B5% D0% BC% D1% 83% 20% D0% BE% D0% B1% D1% 89% D0 % B5% D0% BC% D1% 83% 20% D0% BF% D1% 80% D0% B8% D0% BD% D1% 86% D0% B8% D0% BF% D1% 83% 20% D0% BF % D1% 80% D0% B5% D0% B4% D1% 81% D1% 82% D0% B0% D0% B2% D0% BB% D0% B5% D0% BD% D0% BD% D1% 8B% D0 % B9% 20% D0% BF% D0% BE% D0% BA% D0% B0% D0% B7% D0% B0% D1% 82% D0% B5% D0% BB% D1% 8C% 20% D0% BF % D0% BE% D1% 85% D0% BE% D0% B6% 20% D0% BD% D0% B0% 20% D0% BA% D0% BE% D1% 8D% D1% 84% D1% 84% D0 % B8% D1% 86% D0% B8% D0% B5% D0% BD% D1% 82% D1% 8B% 20% D0% BE% D0% B1% D0% BE% D1% 80% D0% B0% D1 % 87% D0% B8% D0% B2% D0% B0% D0% B5% D0% BC% D0% BE% D1% 81% D1% 82% D0% B8.

% D0% 9D% D0% BE% D1% 80% D0% BC% D0% B0% D1% 82% D0% B8% D0% B2% D0% BD% D0% BE% D0% B5% 20% D0% B7 % D0% BD% D0% B0% D1% 87% D0% B5% D0% BD% D0% B8% D0% B5

% 0A

% D0% A4% D0% BE% D0% BD% D0% B4% D0% BE% D0% BE% D1% 82% D0% B4% D0% B0% D1% 87% D0% B0,% 20% D1% 84% D0% BE% D1% 80% D0% BC% D1% 83% D0% BB% D0% B0% 20% D0% BA% D0% BE% D1% 82% D0% BE% D1% 80% D0% BE% D0% B9% 20% D0% B1% D1% 8B% D0% BB% D0% B0% 20% D1% 80% D0% B0% D1% 81% D1% 81% D0% BC% D0% BE% D1% 82% D1% 80% D0% B5% D0% BD% D0% B0% 20% D0% B2% D1% 8B% D1% 88% D0% B5,% 20% D0% BD% D0% B5% 20 % D0% B8% D0% BC% D0% B5% D0% B5% D1% 82% 20% D0% BE% D0% B1% D1% 89% D0% B5% D0% B3% D0% BE% 20% D0 % BD% D0% BE% D1% 80% D0% BC% D0% B0% D1% 82% D0% B8% D0% B2% D0% BD% D0% BE% D0% B3% D0% BE% 20% D0 % B7% D0% BD% D0% B0% D1% 87% D0% B5% D0% BD% D0% B8% D1% 8F.% 20% D0% 92% 20% D0% BA% D0% B0% D0% B6% D0% B4% D0% BE% D0% B9% 20% D0% BE% D1% 82% D1% 80% D0% B0% D1% 81% D0% BB% D0% B8% 20% D1% 80% D0% B0% D1% 81% D1% 81% D0% BC% D0% B0% D1% 82% D1% 80% D0% B8% D0% B2% D0% B0% D0% B5% D0% BC% D1% 8B% D0% B9% 20% D0% BA% D0% BE% D1% 8D% D1% 84% D1% 84% D0% B8% D1% 86% D0% B8% D0% B5% D0% BD% D1% 82% 20% D0% BE% D1% 82% D0% BB% D0% B8% D1% 87% D0% B0% D0% B5% D1% 82% D1% 81% D1% 8F% 20% D1% 81% D0% B2% D0% BE% D0% B8% D0% BC% 20% D0% B7% D0% BD% D0% B0% D1% 87% D0% B5% D0% BD% D0% B8% D0% B5% D0% BC.% 20% D0% 92% 20% D0% BE% D1% 82% D1% 80% D0% B0% D1% 81% D0% BB% D1% 8F% D1% 85% 20% D1% 82% D1% 80% D0% B5% D0% B1% D1% 83% D 1% 8E% D1% 89% D0% B8% D1% 85% 20% D0% B2% 20% D0% BF% D1% 80% D0% BE% D1% 86% D0% B5% D1% 81% D1% 81% D0% B5% 20% D0% BF% D1% 80% D0% BE% D0% B8% D0% B7% D0% B2% D0% BE% D0% B4% D1% 81% D1% 82% D0% B2% D0% B0% 20% D0% B3% D0% BE% D1% 82% D0% BE% D0% B2% D0% BE% D0% B9% 20% D0% BF% D1% 80% D0% BE% D0% B4% D1% 83% D0% BA% D1% 86% D0% B8% D0% B8% 20% D0% B1% D0% BE% D0% BB% D1% 8C% D1% 88% D0% BE% D0% B3% D0% BE% 20% D0% BA% D0% BE% D0% BB% D0% B8% D1% 87% D0% B5% D1% 81% D1% 82% D0% B2% D0% B0% 20% D0% BE% D0% B1% D0% BE% D1% 80% D1% 83% D0% B4% D0% BE% D0% B2% D0% B0% D0% BD% D0% B8% D1% 8F, % 20% D0% B4% D0% BE% D1% 80% D0% BE% D0% B3% D0% BE% D1% 81% D1% 82% D0% BE% D1% 8F% D1% 89% D0% B5 % D0% B9% 20% D1% 82% D0% B5% D1% 85% D0% BD% D0% B8% D0% BA% D0% B8,% 20% D0% BF% D0% BE% D0% BA% D0% B0% D0% B7% D0% B0% D1% 82% D0% B5% D0% BB% D1% 8C% 20% D1% 84% D0% BE% D0% BD% D0% B4% D0% BE% D0% BE% D1% 82% D0% B4% D0% B0% D1% 87% D0% B8% 20% D0% B1% D1% 83% D0% B4% D0% B5% D1% 82% 20% D0% BD% D0% B8% D0% B6% D0% B5,% 20% D1% 87% D0% B5% D0% BC% 20% D1% 83% 20% D0% BF% D1% 80% D0% BE% D0 % B8% D0% B7% D0% B2% D0% BE% D0% B4% D1% 81% D1% 82% D0% B2% D0% B0,% 20% D0% BF% D1% 80% D0% B8% D0% BC% D0% B5% D0% BD% D1% 8F% D1% 8E% D1% 89% D0% B5% D0% B3% D0% BE% 20% D0% B4% D0% B5% D1% 88% D0% B5% D0% B2% D1% 83% D1% 8E% 20% D 1% 82% D0% B5% D1% 85% D0% BD% D0% B8% D0% BA% D1% 83% 20% D0% B2% 20% D0% BC% D0% B0% D0% BB% D0% BE% D0% BC% 20% D0% BA% D0% BE% D0% BB% D0% B8% D1% 87% D0% B5% D1% 81% D1% 82% D0% B2% D0% B5.

Therefore, the comparison of the analysis results is carried out in dynamics and based on the indicators of the study of the financial and economic activities of enterprises in this industry. Only on the basis of such studies can one draw conclusions about the literacy of the management of production assets.

Analysis of return on assets

Return on assets, the formula for calculating the balance of which was carried out by analysts for several years, should be interpreted correctly. If the ratio decreased in the period under review, this indicates a decrease in the financial stability of the company and an insufficiently effective policy in the field of using production capacities.

With a gradual increase in capital productivity, one can conclude that the company is developing correctly and harmoniously. Competent, expedient use of production assets led the enterprise in this case to an increase in financial stability.

The return on assets indicator, the calculation formula of which helps to calculate the industry average value, should be compared with the results of the analysis of competitors' activities. If the return on assets ratio exceeds the intersectoral value, one can say about the growth of the competitiveness of the analyzed organization. And vice versa.

Two-factor and four-factor analysis of return on assets

To determine what factors affect changes in the indicator of production assets, a certain type of analysis should be performed. It allows you to take a deeper look at the ratio. With the help of two-factor analysis, capital productivity, the formula for the balance of which is calculated by the analyst at the initial stage, is studied in the aspect of the influence of the structure of production assets on it. The two-factor model is calculated as follows:

F2 = Af / F * O / Af, where Af is the active part of production assets, F is fixed assets of production, O is the volume of product sales.

The analysis can take into account 4 factors, the level of specialization, the capacity of the company, the structure of production assets and the turnover of active means of production.

F4 = O / Oosn. * Oosn. / Msred. * Af / F * Msred. / Af, where Oosn. the main products of the enterprise, Msred. average annual capacity of the enterprise.

Seven-factor analysis of return on assets

The seven-factor model for performing the analysis allows you to deeply evaluate all the elements that influenced the coefficient of efficiency of production facilities. The capital productivity of fixed assets, the formula of which shows only a general picture of the state of the means of labor, would be incomplete without the following analysis.

This technique makes it possible to assess the degree of influence in the production process of the structure of fixed assets, equipment, machines, shift work of machines, average annual cost of each piece of equipment, duration of equipment operation, and its efficiency.

The technique is calculated as follows:

Ф7 = Af / F * Cm / Af * Ks / M * Dp * 1 / St * Chm / Ks * O / Chm, where Cm is the average annual cost of machines and machine tools, Ks is the number of equipment changes, St m is the average cost of labor instruments, M is the number machines, Dp duration of the period, Wm the number of hours worked by the equipment.

Return on assets management

After calculations, the return on assets, the formula of which was presented above, requires adjustment. You can manage this indicator using revenue and the size of fixed assets. To increase the return on assets, it is necessary to increase the productivity of labor and equipment. For this, it is possible to automate production processes, increase the load on equipment.

It is also possible to increase the return on assets by introducing scientific developments and innovations into the production process. Increase in sales will allow an increase in the distribution network. By improving product quality, you can achieve good results.

Having familiarized yourself with such a coefficient as capital productivity, the formula and analysis of which are necessarily used by analytical services, you can understand the ways to improve it. Justifiably increasing production capacity, introducing innovations in technology, expanding the distribution network, and ensuring the development and prosperity of production will not be difficult.

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Industrial buildings (workshops, warehouses, laboratories).
Other structures (various engineering and construction projects that create the infrastructure for the production of products, such as roads and tunnels).
Transmission networks (electrical, gas, heat).
Equipment and machines.
Transport vehicles.
Tool.
Production and household inventory.
Working cattle and perennial plantings.
Other funds (including museum and library values).

Analysis of fixed assets

The study of funds at the disposal of the enterprise is carried out in four directions:

Analysis of the structure of the OS and the dynamics of their growth or decrease. Its tasks include assessing the size of capital and its structure. At this stage, the nature of the impact of fixed assets on the financial position of the enterprise is also determined.
Analysis of the effectiveness of using the OS. Its tasks are to determine the direction of movement of funds and the time of their useful operation, the calculation of integral indicators. At this stage, the calculation of the rate of return on assets is carried out.
Cost-benefit analysis of equipment upgrades. Its tasks include the determination of the necessary costs for current and major repairs.
Analysis of the effectiveness of investments in the OS. Its task is to assess the borrowed loans and their impact on production.

The value of return on assets

This indicator illustrates the ratio of gross profit to fixed assets. Return on assets characterizes the efficiency of the enterprise. This indicator was used back in the days of the USSR. The calculation of the return on assets of fixed assets allows you to determine how many products sold are for each unit of the value of fixed assets. In essence, this indicator is on a par with depreciation and production profitability. Based on these three indicators, it can be concluded how efficiently the enterprise is operating. To begin with, the cost of the output is compared with the amount of fixed assets. Then the net income is compared with the required depreciation deductions. The calculation of capital productivity of fixed assets allows you to understand whether it is necessary, in particular, to purchase new equipment. If the expenses are less than future income, then such an acquisition is cost-effective.

Calculation of return on assets

Analysis of the effectiveness of the use of fixed assets is one of the components of competent management. The calculation of return on assets can be carried out using several formulas. But in principle, they all boil down to the main one. The calculation of return on assets on the balance sheet begins with the determination of the issue and the initial cost of fixed assets. In foreign literature, this indicator is called the turnover ratio. It is used not only to assess the effectiveness of the OS, but also to compare performance within the industry. One of these indicators is the return on assets. An example of a calculation allows you to understand how much production falls on a ruble of fixed assets.

Elements of improving the functioning of the enterprise

The successful work of the enterprise is well traced by the dynamics of the indicators of the analysis of fixed assets. The following factors affect the return on assets:

Equipment structure and maintenance.
The ratio of funds for various purposes.
Favorable market factors.

However, capital productivity does not take into account, for example, changes in the quality of products. Therefore, it is important to pay attention separately to this indicator when calculating.

Factors of increasing the efficiency of using the OS:

Technical re-equipment and reconstruction of operating enterprises.
Changes in the structure of fixed assets.
Use of newer models of equipment to replace obsolete ones.
Improving equipment performance by increasing its use and operating time.
Automation of production.
Increase the number of shifts and eliminate equipment downtime.
Improving the use of newly commissioned capacities.

Efficiency

The purpose of the enterprise is commercial gain. For this, any business seeks to reduce costs and increase its income from core activities. Therefore, the problem of increasing the efficiency of functioning is central in market relations. The competitiveness of an enterprise depends on the success of its solution. Efficiency is measured by the amount of profit per ruble of investment. If the cost of purchasing new equipment exceeds the estimated future income, then this investment is not at all profitable. A clear understanding of the current situation at the enterprise allows you to competently plan for the future. The main thing is to neutralize threats from the external environment at the expense of your strengths. To do this, the company must identify methods to improve the productivity of fixed assets. So it will reduce the cost of production and provide an increase in gross profit.

Revision as a control check

Any enterprise is a complex economic organism. Therefore, it is difficult to imagine its existence without constant revisions. They can be carried out as separate activities or as components of financial control of activities. The goals of the OS revision include:

Checking the correctness of the documentary registration of financial transactions.
Determination of the initial cost of fixed assets on the balance sheet.
Checking the correctness of the calculation of depreciation deductions.
Determination of the residual value of fixed assets.
Verification of the legality and correctness of business transactions reflected in the accounting.
Assessment of the state of the OS, their safety and performance.

Thus, capital productivity is inextricably linked with productivity. The calculation of this indicator allows you to understand the current situation at the enterprise and plan its further development. To correctly determine the return on assets, you must first understand what fixed assets are and what factors affect the increase in their productivity in the production of products.

Red = ""> Determining the return on fixed assets in the process of a particular enterprise can be called one of the important methods of analyzing the company's efficiency. These calculations need to be done on an ongoing basis. Otherwise, you can miss the moment when the work of the enterprise turns out to be insufficiently effective. At the same time, it is important to understand that each company needs to adjust the calculation formula taking into account the peculiarities of its own production and the industry as a whole.

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To assess the performance of an enterprise, managers and analysts use the return on assets ratio.

It is a financial ratio that determines the performance of a business. It shows the amount of revenue per unit of value of the existing fixed assets (fixed assets). When analyzing the turnover rate of return on assets shows the ratio of revenue (volume of products sold) and the means of labor available to the company.

How to calculate the return on assets - formula

The calculation looks like this:

Return on assets= Revenue / Fixed assets

By revenue we mean here the price of a product during its sale, and not a profit, since the main goal of the indicator is to demonstrate the efficiency of converting fixed assets into a commodity.

Using the formula for return on assets, you can calculate how much goods the company produces per unit of labor. The ratio is often considered the main indicator of the quality of a company's fund management. Its calculation is necessary when comparing production efficiency in different companies. Return on assets shows the ability of managers to ensure the rational use of assets if the ratio is high. Low scores signal poor management.

For the balance sheet, the indicator is calculated in the new reporting system as follows:

Return on assets = Page 2110 ⁄ (Page 1150 n. - Page 1150 k.) ⁄2,

where: Page 2110 - line 010 from form No. 2, information on the received proceeds for the study period;
P. 1150 N. - line 120 from form No. 1, where the total cost of fixed assets is indicated by the beginning of the reporting period;
P. 1150 k. - a similar indicator of the cost of fixed assets at the end of the period.

Analysis of capital productivity ratios

In the internal analysis of the enterprise, the return on assets ratio allows us to draw several important conclusions. The low value of the coefficient indicates that the volume of production is insufficient for a given amount of funds. To solve the problem, measures are taken to increase sales. If this is not possible, assets will have to be written off. High values signal the need for a source of investment to expand production.

Among the highlighted are the turnover of certain groups of assets, such as inventories or receivables. Such indicators are calculated by dividing the proceeds by the analyzed type of assets or liabilities.

Let us give an example: in 2008, OJSC Norilsk Nickel received revenue in the amount of 13,980 million, and the total funds of the enterprise amounted to 28,259.5 million rubles.

Return on assets = 13 980/28 259.5 = 0.49

In the analyzed period, 49 kopecks of proceeds were received for each ruble of the funds. The Norilsk Nickel funds paid off by 49%.

The dynamics of the company's assets turnover for 2005-2008 is declining. This indicates the ineffectiveness of the adopted policy for the use of funds owned by the enterprise. Since 2005, the rate of growth in the amount of assets has been higher than the rate of increase in revenue of OJSC Norilsk Nickel: since 2007, the amount of funds has increased by 119%, and revenue - only by 44%. If negative dynamics persists, the company should revise its sales policy, attract investors, and eliminate unnecessary assets.

Normal coefficient value

There is no normal value of return on assets. The ratio is often determined by the characteristics of the company and the industry. In the conditions of capital-intensive industries, the asset turnover rate will be lower, since the largest part of the enterprise's funds in this case is fixed assets. When the indicator increases in dynamics, we can talk about an increase in the efficiency of using the means of production.

To increase the turnover of funds, you can take measures:

increase the amount of revenue, and leave the composition of the funds the same. It is necessary to use assets more efficiently or to increase the operating time of the equipment (the number of shifts on new machines);
change the composition of funds, that is, write off assets that are not needed or not suitable for use. This amount will decrease the denominator of the coefficient in the calculation.

The video below introduces other financial indicators of the enterprise:

Fixed assets and the specifics of their operation by the company are of global importance for overall development. Improving the quality of these elements will be the optimal solution to the problems and difficulties of production: increasing the volume of products that are produced through the use of equipment, reducing costs used to form the cost of production, increasing labor productivity.

Such changes are intended to have a tremendous impact on the return on equity, and ultimately on the profitability of operations. For these goals to become a reality, firms must regularly conduct analytical research on the use of funds by calculating general ratios, in particular - capital productivity.

Return on assets shows the level at which the turnover of fixed assets occurs within the enterprise. Thanks to this indicator, the effectiveness of their use in the production process is determined.

Return on assets is an indicator of the efficiency of fixed assets

Influence of various factors on the rate of return on assets

A number of factors influence the success of the firm's functioning, the return on assets being the first of them. But it is also influenced by various parameters, such as:

armament and reconstruction;
perfect use of the applied capacities;
reduction in the cost of a unit of power;
changes in the structure of funds;
market development factors;
the quality of the goods offered.

The profitability of the company depends on these phenomena.

Conducting settlement actions

This indicator can be applied at different economic levels. The capital productivity demonstrates the same phenomena, in particular, the efficiency of production, in relation to the capital used, but the calculations are carried out on different scales:

company level;
industry level.

In the first case, the volume of the product produced is applied. In the second, there is output within the economic position of the country (GDP). At both levels, there are differences in the calculated actions, however, the indicator is general and characterizes the same phenomenon.

Note: the main task of the indicator is to demonstrate the volume and cost of a product per unit (ruble).

The formula for return on assets looks like this.

Evaluation of the effectiveness of the use of fixed assets involves the calculation of the following generalizing indicators and their analysis in dynamics.

Fund profitability(the ratio of profit to the average annual value of fixed assets):

Return on assets is the ratio of the value of products produced or sold after deducting VAT and excise taxes to the average annual value of fixed assets. The cost of fixed assets does not include those on conservation and leased to other organizations:

Return on assets is one of the factors of intensive use of fixed assets and intensive growth in output. It serves as a characteristic of the technological efficiency of production. If the capital productivity increases, therefore, the amortization capacity (A / VP) will decrease, i.e. the amount of depreciation deductions per 1 ruble of finished products decreases, respectively, the share of profit in the price of goods increases.

Capital intensity- the inverse indicator of capital productivity - specific capital investments per one ruble of production growth:

The calculation and assessment of capital intensity in dynamics acquire special meaning, since it shows an increase or decrease in the volume (value) of fixed assets per 1 ruble of production.

Relative savings in fixed assets:

where OPF 0, OPF 1 - respectively, the average annual cost of fixed assets in the base (past) and reporting periods;

I VP - the index of the volume of production.

When calculating the average annual value of funds, not only own, but also leased fixed assets are taken into account, and funds that are on conservation, reserve and leased are not included.

Private indicators are used to characterize the use of certain types of machines, equipment, production area. For example, the average production output in physical terms per unit of equipment per shift, production output per 1 sq. m of production area, etc.

An increase in output can be achieved by an absolute increase in fixed assets, i.e. due to the extensive factor, or by increasing the return on assets - the intensive factor.

The intensification of production is characterized by an increase in the return (decrease in capacity) of the resources expended. Comparison of the result and the cost of fixed assets for the baseline and actual periods makes it possible to assess the degree of use of intensive and extensive factors of production in the study period.

The growth rate of the influence of the qualitative characteristics (intensity) of the use of fixed assets is calculated by the ratio of the growth rate of output to the growth rate of the value of fixed assets.

The percentage effect of the growth of fixed assets on the effective indicator (output) is determined by dividing the growth rate of the value of fixed assets by the growth rate of the result (output) and multiplying them by 100%:

To determine the share of the impact of capital productivity, the result is subtracted from 100%:

The level of return on assets depends on the return on assets, the proportion of products sold and their profitability.

The calculation of influencing factors on the return on assets of fixed assets is carried out by any of the methods of deterministic factor analysis.

Capital productivity, in turn, by transforming the original model, can take the form of a multiplicative dependence of the following factors:

Shares of the active part of the funds in the total amount of fixed assets;

The share of operating machinery and equipment in the active part of the funds;

Capital productivity of machinery and equipment:

where UDa is the share of the active part in the total value of fixed assets;

UDM - the share of machines in the cost of the active part;

FOM - return on assets of machines.

The initial formula for capital productivity (FD = VP / OS) indicates a direct relationship between the value of the output and the intensity of the use of fixed assets:

A detailed analysis of the change in output requires the calculation of not only the influence of factors of the first order - fixed assets and their return on assets, but also changes in the structure of fixed assets (the proportion of the active part, the proportion of machines) and the direct return of technological equipment.

Calculation algorithm.

To calculate the change in gross output due to an increase in the cost of fixed assets, it is necessary to multiply the change in their average annual cost by the planned level of the total capital productivity of fixed assets:

To determine the impact on the production volume of the share of existing machinery and equipment in the active part of the assets, as well as the capital productivity of technological equipment, it is necessary to multiply the change in the capital productivity of fixed assets due to each factor by the actual average annual balances of fixed assets:

34. Analysis of the use of labor resources of the enterprise .

Labor resources of the enterprise it is a set of employees of various professional and qualification groups employed at the enterprise and included in its payroll.

The provision of the enterprise with labor resources, their rational use are the key factors for the successful operation of the enterprise. Therefore, the analysis of the use of labor resources in the enterprise should be given great importance.

The main tasks of the analysis of labor resources:

Analysis of the provision of the enterprise with labor resources;

Analysis of the movement of labor resources;

Analysis of the use of working time;

Analysis of labor productivity and labor intensity of products;

Analysis of wages.

1. In the course of the analysis of the availability of labor resources, the actual number of personnel is compared with the previous period and the planned number of the reporting period for all classification groups. In the process of analysis, the relationship between groups and the trends in this relationship are studied.

The influence of changes in the proportion of the main workers in their total number on the output of one worker is determined by the formula:

ΔГВ = (УД 1 - УД 0) · ГВ 0.

where UD 1, UD 0 - the proportion of the main workers in their total number according to the plan (base period) and the report;

GV 0 is the average annual output of one worker according to the plan.

The number of employees is determined based on the organizational structure of the enterprise and the rational number required to ensure management functions.

The number of non-industrial personnel is determined according to standard industry standards, according to service standards.

The reduction of auxiliary workers can be achieved due to the concentration and specialization of auxiliary work: for setting up and repairing equipment, increasing the level of mechanization and improving the work of these workers.

The analysis of the professional and qualification level of workers is carried out by comparing the available number by specialties and categories with the necessary for the performance of each type of work in sections, teams and the enterprise as a whole. This reveals a surplus or shortage of workers for each profession.

If the actual average wage category of workers is lower than the planned or average wage category of work, then this can lead to a decrease in the quality of products, and, therefore, it is necessary to provide for staff training. If the average category of workers is higher than the average wage category of work, then workers need to make an additional payment for using them in less skilled jobs.

In the course of the analysis of the qualifications of management personnel, they check the correspondence of the educational level of each employee to the position held, study issues related to the selection of personnel, their training and advanced training.

The qualification level of employees depends largely on age, work experience, education, etc. Therefore, in the process of analysis, they study changes in the composition of workers by age, length of service, and education.

2. Analysis of indicators of movement of labor

A crucial stage in the analysis of the use of an enterprise by personnel is the study of the movement of labor. The analysis is carried out in dynamics over a number of years based on the coefficients presented in table.

The analysis scrutinizes the reasons for employee retirement.

However, the output depends not so much on the number of employees as on the amount of labor (spent on production), a certain amount of working time. Therefore, the analysis of the use of working time is an important part of the analytical work in the enterprise.

Reception turnover ratio (Кn)

Characterizes the proportion of employees hired for the period

Disposal turnover ratio (Кв)

Characterizes the proportion of employees who left for the period

Personnel turnover rate (Kt)

Characterizes the rate of dismissal of employees for negative reasons

Personnel constancy ratio (Kpost)

K post = 1 - K in

Characterizes the level of employees at this enterprise constantly in the analyzed period (year, quarter)

3. Analysis of the use of working time, its impact on labor productivity

The analysis of the use of working time is carried out on the basis of the balance of working time.

Calendar (TC) TC = 365 days

Nominal (mode) (Тnom) Тnom = Тк - t output

Explicit (Tyav) Tyav = Tnom - t implicit

Useful fund of working time (Tn) Tn = Tav - t - t VP

where t VP - time of weekends and holidays;

t no-show - days of no-show (vacation, due to illness, by decision of the administration, truancy, etc.);

t is the nominal duration of working time;

tvp - time of intra-shift downtime and breaks in work, reduced and grace hours.

The completeness of the use of labor resources can be estimated by the number of days and hours worked by one employee for the analyzed period of time, as well as by the degree of use of the working time fund. Such an analysis is carried out for each category of workers, for each production unit and for the enterprise as a whole.

The working time fund (FWF) depends on the number of workers (HR), the number of working days worked on average per year (D), the average length of the working day (t):

FRB = Chr · D · t.

In the course of the analysis, it is necessary to identify the reasons for the formation of excess losses of working time. Among them there may be additional vacations with the permission of the administration, absenteeism due to illness, absenteeism, downtime due to equipment malfunction, lack of work, raw materials, materials, fuel, energy, etc. Each type of loss must be assessed in detail, especially the one that depends on the enterprise. Reducing the loss of working time for reasons depending on the labor collective is a reserve for increasing production, which does not require additional capital investments and allows you to quickly get a return.

Having studied the loss of working time, unproductive labor costs are identified, which consist of the costs of working time as a result of the manufacture of rejected products and the correction of defects, as well as in connection with deviations from the technological process (additional costs of working time). To determine the unproductive losses of working time, data on losses from rejects (journal-order No. 10) are used.

To assess the level of labor productivity, a system of generalizing, partial and auxiliary indicators is used.

Generalizing indicators: average annual, average daily and average hourly output by one worker, average annual output per worker in value terms.

Private indicators: labor intensity of a certain type of product in kind per 1 man-day or man-hour.

Auxiliary indicators: the time spent on a unit of a certain type of work or the amount of work performed per unit of time.

The most generalizing indicator of labor productivity is the average annual output of one worker (GW):

where TP is the volume of commercial products in value terms;

H - the number of employees.

In the process of analysis, the dynamics of labor intensity, the implementation of the plan for its level, the reasons for its change and the impact on the level of labor productivity are studied. If possible, you should compare the specific labor intensity of products for other enterprises in the industry, which will allow you to identify best practices and develop measures for its implementation at the analyzed enterprise.

Labor intensity is the cost of working time per unit or the entire volume of manufactured products. The labor intensity of a unit of production (TE) is calculated by the ratio of the working time fund for the manufacture of the 1st type of product to the volume of its production in kind.

Reducing the labor intensity of products is the most important factor in increasing labor productivity. The growth of labor productivity occurs primarily due to a decrease in the labor intensity of products, namely, due to the fulfillment of the org plan. those. measures, increasing the share of purchased semi-finished products and components, revising production rates, etc.

The change in the level of labor intensity is not always assessed unambiguously. Labor intensity can increase with a significant specific gravity of newly developed products or an improvement in its quality. To achieve an increase in the quality, reliability and competitiveness of products, additional costs of funds and labor are required. However, the gain from increased sales and higher prices, as a rule, outweighs the gain from increased labor intensity of products. Therefore, the relationship between the labor intensity of a product and its quality, cost price, sales volume and profit should be in the focus of analysts' attention.

4.Analysis of the use of the wage bill

The analysis of the use of the payroll begins with the calculation of the absolute and relative deviation of its actual value from the planned one.

The absolute deviation of ΔФЗПа is determined by comparing the actually used funds for labor remuneration (ΔФЗПф) with the planned wages fund (ФЗПпл) as a whole for the enterprise, production unit and categories of workers:

ΔФЗПа = ΔФЗПФ - ΔФЗПpl.

However, the absolute deviation is calculated without taking into account the degree of fulfillment of the production plan. To take this factor into account, the calculation of the relative deviation of the wage fund ΔФЗПот will help.

For this, the variable part of the wage bill (FZPper) is adjusted by the coefficient of implementation of the production plan (Cpl). The variable part of the payroll includes the wages of workers at piece rates, bonuses to workers and management personnel for production results, the amount of vacation pay corresponding to the share of variable wages, other payments related to the payroll and which change in proportion to the volume of production.

To assess the effectiveness of the use of funds for labor remuneration, it is necessary to apply such indicators as the volume of production in current prices, revenue, the amount of gross, net, capitalized profit per ruble of wages, etc. In the process of analysis, one should study the dynamics of these indicators, the implementation of the plan by their level ... An inter-plant comparative analysis will be very useful, which will show which company is performing more efficiently.

For factor analysis of the production of products per ruble of wages, the following model can be used:

where VP is the output at current prices;

FZP - staff wages fund;

T - the number of hours spent on the production of products;

Σ D and D - the number of days worked, respectively, by all workers with one worker for the analyzed period;

CR - the average number of workers;

PPP - the average number of industrial and production personnel;

ЧВ - average hourly output of products;

Ud - the proportion of workers in the total number of personnel;

GZP is the average annual salary of one employee.

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