Acceleration of turnover and the value of working capital. Consequences of acceleration (deceleration) of the turnover of circulating assets Economic effect of accelerating the turnover of circulating assets

4. Assessment of the impact of changes in turnover on the profit of the Belgorod district

For objective asset management of enterprises and informed management decisions when planning current activities, it is important to assess the impact of the main factors on the increase in financial results and profitability.

The economic effect as a result of accelerated capital turnover is expressed in the relative release of funds from circulation, as well as in an increase in the amount of profit from sales.

To assess the impact of capital turnover and average annual capital balances on profit from sales, a factor model is used (1):

P = P PR × K OB × OK (1)

Where P is the profit from sales;

R PR - profitability of sales;

K ABOUT - capital turnover ratio;

OK - average annual balances of working capital.

Based on this formula, the calculation of the influence of capital turnover on the change in profit is as follows (2):

∆P OK = P PR × (K OBO - K OBb) × OK b (2)

Based on the above formula, the calculation of the influence of the average annual balances of working capital on the change in profit is as follows (3):

∆P OK = R PRb × K OBb × (OK b-OK o) (3)

Determine the impact of cost current assets on the increase in sales revenue and present the results in table 8

Table 8

The impact of changes in capital turnover on the revenue of the Belgorodsky District Power Plant in 2007-2009

Thus, the decrease in the working capital turnover reduced the proceeds by 703 thousand rubles.

On the basis of the data in Table 5, the influence of the turnover indicators of the average annual capital balances of the Belgorodsky Raipo on the change in profit from sales is calculated and is presented in Table 9.

Table 9

Influence of the turnover indicators of the Belgorodsky district industrial district on profit for 2008-2009

According to table 8, in 2009 the greatest impact on sales profit was made by the acceleration of inventory and accounts receivable turnover. Decrease in capital productivity reduced profit by 34 thousand rubles. the influence of the average annual residues is insignificant. This suggests that an intensive factor of growth in profit from sales prevails; on the basis of this, it can be concluded that it is necessary to control the turnover of receivables and inventories, since these factors have the greatest impact on the change in profit from sales.

Acceleration of the turnover of circulating assets reduces the need for them, allows enterprises to release part of the circulating assets either for the needs of the national economy (absolute release), or for additional output (relative release).

As a result of the acceleration of turnover, material elements of circulating assets are released, less stocks of raw materials, materials, fuel, stocks of work in progress, etc. are required, and therefore, the monetary resources previously invested in these stocks and stocks are released. The released monetary resources are deposited on the current account of enterprises, as a result of which their financial condition improves, and their solvency is strengthened.

In order to really assess the positive and negative aspects of the turnover change, it is necessary to calculate the amount of released or attracted funds. the acceleration of turnover indicates a reduction in the need for working capital, and the slowdown requires the attraction of additional funds.

The analysis of the economic effect from changes in the capital turnover of the Belgorodsky District Po for 2007-2009 is presented in Table 10

Table 10

The economic effect of the change in the turnover of the Belgorodsky District Power Plant in 2007-2009

In 2008, the acceleration of capital turnover by 3% contributed to the release from turnover of 4,565 thousand rubles. in 2009 the capital turnover slowed down by 11%. This contributed to the involvement of an additional 121.1 thousand rubles into the turnover.

This has a negative impact on the results of the enterprise, as it means a reduction in the profit of the Belgorodsky District Power Plant.

Based on the analysis of the relationship between the turnover of capital and the profit of the enterprise, it was revealed that the acceleration of the turnover of stocks and accounts receivable had the greatest impact on the profit from sales. In general, the asset turnover has slowed down, which allows us to speak about the involvement of additional funds in the turnover in the amount of 121.1 thousand rubles. Also, the return on assets has decreased. Intensive factors of growth in profit from sales prevail; on the basis of this, it can be concluded that it is necessary to control the turnover of accounts receivable and inventory, since these factors have the greatest influence on the change in profit from sales.

It is required to carry out measures to increase the capital turnover of the Belgorodsky District Industrial Production Association in order to release additional resources from circulation and increase profits.

Capital turnover acceleration reserves

Accelerating capital turnover is a top priority for enterprises. In the course of the analysis it was revealed that the turnover of accounts receivable and inventory has the greatest influence on the profits of the Belgorodsky district production plant in 2009. Reducing profits is facilitated by a decrease in capital productivity of fixed assets and the turnover of working capital in general.

The efficiency of capital use depends on many factors, which can be divided into external, influencing regardless of the interests of the enterprise, and internal, which the enterprise can and should actively influence. External factors include such as the general economic situation, tax legislation, conditions for obtaining loans and interest rates on them, the possibility of targeted financing, participation in programs financed from the budget. These and other factors determine the framework in which the company can manipulate the internal factors of the rational movement of working capital.

At the present stage of economic development, the main external factors affecting the state and use of capital include such as the crisis of non-payments, high taxes, high rates of bank loans.

The crisis in sales of manufactured products, and non-payments lead to a slowdown in capital turnover. Consequently, it is necessary to produce those products that can be sold quickly and profitably, stopping or significantly reducing the output of products that are not in current demand. In this case, in addition to the acceleration of turnover, the growth of accounts receivable in the assets of the enterprise is prevented.

At the current inflation rate, it is advisable to direct the profit received by the enterprise, first of all, to supplement the working capital. The rate of inflationary depreciation of working capital leads to an underestimation of the cost and their flow into profit, where the dispersion of working capital to taxes and non-production costs occurs.

Significant reserves for increasing the efficiency of capital use lie directly in the enterprise itself. For the Belgorodsky District Po, such reserves are

At the stage of creating inventories, these can be:

Implementation of economically justified stock norms;

Bringing suppliers of raw materials, semi-finished products, components, etc. closer to consumers;

Extensive use of direct long-term relationships;

Expansion of the warehouse logistics system, and wholesale trade materials and equipment;

Complex mechanization and automation of loading and unloading operations in warehouses.

At the stage of work in progress:

Acceleration of scientific and technological progress (introduction of advanced technology and technology, especially waste-free and low-waste, robotic complexes, rotary lines, chemicalization of production);

Development of standardization, unification, typification;

Improving the forms of organizing trade;

The influence of changes in the volume of sales on turnover is determined as the difference between the conditional and basic indicators of turnover, the effect of average balances of working capital as the difference between the actual and conditional turnover indicators.

The economic effect as a result of the acceleration of turnover is expressed in the relative release of funds from circulation, as well as in an increase in the amount of profit.

With the acceleration of the turnover of circulating assets, material resources and sources of their formation are freed from circulation. The slowdown in turnover is characterized by the involvement of additional funds in the turnover. Distinguish between absolute and relative release of working capital. An absolute release occurs if the actual balances of working capital are less than the standard or the balances of the previous period, while the volume of sales for the period in question is reduced or exceeded.

In the case when the acceleration of turnover occurs simultaneously with an increase in the volume of production and at the same time the growth rate of the volume of production and sales outstrips the growth rate of the balances of working capital, there is a relative release of working capital.

The relative release of working capital also takes place with a reduction in the duration of one turnover in comparison with the previous period or the planned period. An increase in the duration of one turnover indicates an additional attraction of circulating assets into turnover.

The amount of funds released from circulation due to acceleration (-E) or additionally attracted funds into circulation (+ E) with a slowdown in turnover is determined by multiplying the one-day sales turnover in the reporting period by the change in the duration of the turnover for the analyzed period.

where RP is the volume of product sales in the reporting period;

D is the number of days in the period;

ΔPOB - change in the duration of the turnover in days.

To determine the influence of the turnover of working capital on the change in the volume of production, the following dependence is used:

RP = COB x CO

The influence is determined by the method of chain substitutions or deviations:

Δ RP (OB) = ΔKOB x CO1,

where Δ RP (OB) is the change in the volume of production under the influence of the turnover of working capital;

ΔKOB - change in the turnover ratio;

СО1 is the average cost of working capital in the reporting period.

To analyze the assessment of the impact of the turnover of working capital on the change in profit from sales, you can use the following ratio:

ΔPr (OB) = PR0 x K (KOB) - PR0,

where ΔПр (OB) is the change in profit under the influence of turnover;

ПР0 - profit from sales for the base period;

K (KOB) - the coefficient of the relative growth of the number of circulating assets turnover.

To determine the influence of the turnover of working capital on the return on assets of the enterprise, the following relationship is used:

ΔPa (OB) = P0n x ΔKOB,

where ΔPa (OB) is the change in the profitability of the company's assets under the influence of turnover;

Р0n - profitability from sales in the base period.

Along with the definition overall indicator the turnover of the entire set of current assets of the enterprise, a large practical relevance has a calculation of the weighted duration of turnover by types of current assets.

In addition to the method for determining the need for working capital by the weighted duration of the turnover, two more methods are used for the calculation: directly by the fixing coefficients and by autonomous calculations of individual elements of current assets.

According to the above methodology, the use of all circulating assets is analyzed, as well as their certain types... For this, private indicators of turnover are calculated:

1 turnover of inventories;

The level of business activity is reflected in the assessment of the comparative efficiency of use material resources enterprises and in the amount of financial investments in these assets. Business activity in terms of the efficiency of resource use is assessed by a system of turnover indicators that characterize the rate of return Money invested in current production and economic activities.

The amount of cash, aimed at acquiring the necessary resources, begins the process of the circulation of capital, which is in continuous motion. Capital goes through three stages: procurement, production, marketing.

Procurement - the first stage is the process of acquiring fixed assets, production stocks and other types of values ​​necessary for the production. At the first stage, money is transformed into material resources.

In the second production stage, funds in the form of inventories are transferred to work in progress. This stage ends with the release finished products... Part of the funds goes to pay employees, pay taxes, payments on social insurance and other expenses.

The third stage - sales - includes the sale of finished products, the finding of funds in the calculations (accounts receivable) and the receipt of funds, in magnitude exceeding the initial investment, for the amount of profit received from commercial activities... The described cycle process includes several cycles:

• operating cycle (OTs) - this is the total time spent financial resources in stocks, debts, including those received in the form of payment deferrals, commercial or commodity credits (accounts payable). Characterizes the period of one full turnover of the entire amount of current assets;
• production cycle combines the storage of inventories from the moment they arrive at the warehouse until the moment they are shipped to production; direct production of products; the period of storage of finished products in the warehouse. Its duration depends on the specifics of production, scale, industry. It is the production cycle that determines the duration of the operating cycle;
• financial cycle - the period of time between the repayment of accounts payable to suppliers of raw materials and materials and the receipt of money from debtors (buyers) for the shipped products. It starts from the moment of purchase of inventories and ends with payment for the products sold by buyers. The financial cycle includes the time required for payment to the supplier (advance payment), shipment of raw materials, materials, their delivery (if necessary - customs clearance), posting to the warehouse, shipment of goods to the buyer, deferred payment (accounts receivable), receiving money from the buyer for the goods sold. Reducing the time at any of the stages leads to an increase in the efficiency of the use of working capital. The faster the capital makes a circuit (or in a shorter period), the less time it takes to return the invested funds, taking into account the increase in the amount of profit. Consequently, the amount of necessary financial resources decreases, more finished products are sold and the profit received by the enterprise increases. Thus, the duration of funds in circulation is directly related to the results of financial and economic activities. Effective management of the turnover process requires a deep understanding of both the process itself in all its diversity and the reasons that influence its change.

All factors leading to a decrease or increase in turnover, it is advisable to divide into external and internal. External factors include the impact of inflationary processes, market conditions, geographic location of consumers, suppliers, subcontractors, customer solvency, quality of banking services, rigidity of competition, information and lack of economic ties. Internal factors are the sphere, scale of activity, industry affiliation, the level of specialization and cooperation, the settlement system, the level of organization, production management, the degree of mechanization and automation, the progressiveness of the technologies used, qualification level management, structure and range of products, etc.

The system of turnover criteria includes several groups of indicators:

turnover rates characterize the rate of turnover of funds and show what number of revolutions the capital makes for a certain period (the number of revolutions), and also estimate the value of sold products per one ruble of funds:

where LA - coefficient ^) asset turnover; No. p - revenues from sales; L is the average value of assets.

An increase in turnover leads to a reduction in the costs required for each turnover. As a result, resources are freed up, since the invested funds quickly turn into real money. The level of financial stability and the degree of solvency, the relative amount of conditionally fixed costs, the amount of money invested depend on the rate of turnover of funds. financial resources;

turnover period indicators () give an idea of ​​the average period for which funds invested in production and commercial activities are returned, or show the duration of one turnover in days:

where T - the period in question in days. Number of days (T) in the analyzed period, it is customary to count in a quarter (90), half a year (180), in a year (360).

The faster capital makes a circuit, the fewer days it takes to transform it into monetary form, the better and more efficient its use. Reducing the time spent in assets leads to a decrease in the need for working capital;

load factor (consolidation or capital intensity ratio) of current assets characterizes the amount of current assets advanced for one ruble of proceeds. It is calculated as the ratio of the average value of current assets to the volume of sales (the reciprocal of the traditional ratio of current assets turnover):

The ratio evaluates the dynamics of fixed current assets in one ruble of sales proceeds and serves as a measure of work efficiency: the lower the ratio, the more intensively the assets are used. It reflects the level of management of accounts receivable, inventory;

economic effect of deceleration release ) working capital as a result of acceleration (deceleration) of their turnover is determined on the basis of one-day turnover, which is calculated by dividing the sales revenue by the number of days of the analyzed period, followed by multiplication by the change in the turnover period:

where ± EF - economic effect; - change in the turnover period.

The indicator of economic effect can have a value with a plus sign, which is regarded as additional funding required, and a minus sign, indicating the amount of funds released from circulation. If the duration of the turnover has increased, extra days the operating cycle will need to be financed in the amount of one-day turnover funds for each extra day. And vice versa: a decrease in the days of turnover (-D1) will indicate that as a result of more efficient use of resources in the next cycle, less funds will be required by the amount of the effect obtained.

The release of working capital due to the acceleration of their turnover can be absolute and relative:

• if the actual balances of working capital are less than the standard or the balances of the previous period, such a release is considered absolute. This means that current assets were more fully involved in circulation and more products were produced;
• in a situation of accelerated growth of production in the presence of circulating assets within the limits of the previous demand, there is a relative release.

A comprehensive assessment of turnover is carried out using economic and mathematical models to identify the causes and relationships of a number of indicators. The sequence of calculation procedures using the example of the turnover of current assets (Table 13.2) includes the analysis and assessment of the factor dependencies of the turnover ratio, sales proceeds and the turnover period.

The change in the turnover ratio is influenced by two factors: sales proceeds and the average value of current assets. The method of chain substitutions determines the quantitative impact of each of them on the turnover ratio:

The impact of changes in sales revenue ( AX ^ P)):

Influence on the turnover ratio of changes in the average for the period of the balances of current assets (Yes ^^):

Sales volume can change due to the amount of consumed resources, i.e. an extensive factor in the use of assets, and their intensive use - the turnover ratio. The increase in revenue due to the turnover ratio characterizes the increased quality of the functioning capital management.

The calculation of factors in the multiplicative model = = AOxYA AO can be carried out by the method of absolute differences:

Change in revenue due to the average annual value of current assets (DL ^ 0)):

Change in revenue due to the turnover ratio (LA "Dlo,"):

The influence of factors on the period of turnover in the multiple model is carried out by the method of chain substitutions:

• change in the turnover period due to current assets
• (D ^ (LO)):

Change in the turnover period due to sales proceeds ():

The economic effect of accelerating the turnover of inventories is expressed in the release of working capital, reducing the company's need for them in connection with the improvement of their use. Distinguish between absolute and relative release of working capital.

The absolute release reflects a direct decrease in the need for working capital. The magnitude of the absolute release is defined as the difference in the values ​​of the circulating assets invested in inventories in the analyzed periods.

Let's look at an example. In 2016, the turnover amounted to 2,500,000 rubles, while the average annual cost of inventories was 500,000 rubles. The turnover was 5 revolutions. In 2017, there was an acceleration in turnover, the turnover was also 2,500,000 rubles, but the average annual cost of inventories was 300,000 rubles. The turnover was equal to 8.33 turnover, and the absolute release of working capital is defined as 500,000 rubles - 300,000 rubles = 200,000 rubles.

The relative release reflects the difference in working capital that would be needed in the current period with the turnover of the previous period. When do we need to define relative release? In the previous example, the turnover for the year has not changed, but it is often possible to observe a situation when, with an acceleration of turnover, the cost of inventory remains the same, but the turnover increases. That is, to increase sales, the company did not need additional attraction of working capital.

Let's look at an example. In 2016, the turnover amounted to 2,500,000 rubles, while the average annual cost of inventory was 500,000 rubles. The turnover was 5 revolutions. In 2017, there was an acceleration in turnover, the average annual cost of inventories was 500,000 rubles, and the turnover was 4,000,000 rubles. There was no absolute release of working capital: they were all invested in inventories, but the company benefited from the fact that it did not need to raise additional funds to increase sales. Let's define this benefit. The logic is as follows.

We need to determine the value of the average annual cost of inventory, which would be if the turnover remained the same as in 2016. The difference between this value and the actual value in 2017 will be the economic benefit from the acceleration of turnover in this case.

The turnover in 2016 was 5 revolutions. Let me remind you that turnover in turnover is defined as the ratio of turnover to the average annual cost of inventory. In our case, this is 2,500,000 rubles / 500,000 rubles - 5 revolutions. If in 2017 the turnover did not change, then the average annual cost of inventories would be 4,000,000 rubles / 5 revolutions = 800,000 rubles. That is, we would need to attract an additional 300,000 rubles: 800,000 rubles - 500,000 rubles. The company did not need to raise these funds due to the fact that it took measures to accelerate turnover.

If you calculate the turnover in days, then the effect of its acceleration is determined by the formula:

Economic effect = (turnover in the previous period - turnover in the current period) * turnover per year / 365 days

In the period under review, the economic effect is equal to:

Turnover in 2016 = 500,000 rubles * 365 days / 2,500,000 rubles = 73 days

Turnover in 2017 = 500,000 rubles * 365 days / 4,000,000 rubles = 45.625 days

Economic effect = (73 days - 45.625 days) * 4,000,000 rubles / 365 days = 300,000 rubles.

According to my observations, almost every company has large reserves for accelerating turnover. More and more often I am asked how to achieve the turnover, which the head / owner of the company sets as the target. The site has several articles on this topic. For example, "How to identify reserves for increasing turnover" "6 important steps to increase the turnover of goods."

At present, the total amount of the company's accounts receivable is about 1,474 thousand rubles. In 2009 - 2010 the balance of short-term accounts receivable at the end of the year has a tendency to decrease, which makes it possible to increase the monetary component of working capital, accelerate their turnover. To further reduce accounts receivable, it is planned to: increase the share of prepayment and intensify the work of the legal service to collect the overdue part of the debt.

Also, in order to increase the efficiency of using working capital (by reducing the turnover period), it is recommended to develop measures for the sale and write-off of stale materials, since their presence leads to the "death" of working capital, an increase in storage costs, etc.

Let's calculate the effectiveness of the proposed measures. The data for calculations will be presented in the form of table 22.

Table 22. Initial data for the analysis

In the reporting year 2010, the revenue increased by 1.5 times compared to the previous 2009, when it amounted to 12,941,694 thousand rubles, therefore, in the base period, it is planned to increase revenue by 1.65 times, which will amount to 33090560 thousand rubles. (see Table 22).

In addition, it is planned to reduce accounts receivable, according to the proposed measures, by 4 times, which will amount to 168,523 thousand rubles.

In connection with a doubling of revenue, an increase in inventory turnover should occur, which in turn should be due to a decrease in inventories and materials in warehouses.

Let's analyze the dynamics of the economic potential of the enterprise for 2009-2011, taking into account the planned indicators.

The analysis is shown in Table 23.

Table 23. Dynamics of the economic potential of KAMAZ-DIESEL OJSC for the period 2009-2011 (taking into account the planned indicators), thousand rubles.

The following ratio of tempo indicators is optimal:

> > > 100%, (14)

where, -, respectively, the rate of change in profit from the sale of products, proceeds from sales and the total cost of goods sold.

During 2009-2010. the fulfillment of this inequality is observed, despite the fact that the financial condition of the enterprise is not stable, there was a decrease in loss, and the growth rate of profit was 167.39%. Inequality indicates that, in comparison with an increase in economic potential, the volume of sales increases at a higher rate, that is, the organization's resources are used more efficiently, the return on each ruble invested in the company increases, since the rate of revenue growth outstrips the rate of cost growth, which cannot be said on the rate of growth of profits. With an increase in the growth rate of revenue by 10%, the revenue will increase by 1.65 times. It is necessary for the profit growth rate to be higher than the revenue growth rate in the planned year, which should increase the economic potential of KAMAZ-DIESEL OJSC. In order for profit to grow at a faster pace, it is necessary in the reporting period to have a relative reduction in production and distribution costs as a result of actions aimed at optimizing the technological process and relationships with counterparties.

Thus, with the planned reduction of losses by 88 times, the proceeds from sales will increase by 1.65 times, and the total cost by 1.62 times, while inequality will be observed. Consequently, it is planned to increase the economic potential of KAMAZ-DIESEL OJSC.

The time of stock circulation, is expressed in days of turnover and is calculated by the formula (15)

OT = Z * T: Q (15)

Ot - average stock;

T is the number of days in the period;

Q - sales proceeds.

Let's calculate the turnover time of stocks for the enterprise OJSC KAMAZ-DIESEL for 2010.

From = 1127103 * 365: 20054885

This means that in 2010 the company had enough reserves for 20 days. It is necessary to plan a decrease in the level of inventories, therefore, according to formula (15), in the planned 2011 the time of inventory circulation should decrease due to an increase in sales proceeds, which will entail a decrease in the average annual cost of working capital assets.

So, we have in 2011 according to the plan:

From = 985650 * 365: 33090560

This means that with a decrease in the level of stocks by 1.14 times, in the planned year, the turnover time of stocks is reduced by 2 times, which can increase the speed and reduce the time of commodity circulation, increase sales proceeds with a smaller inventory, which has an effect on reducing costs of storing goods, reducing product losses, etc.

Firms seek to increase inventory turnover in order to get the most sales and, therefore, profits with a smaller warehouse area and lower inventory costs. High inventory turnover requires stricter inventory control.

Achieving high turnover is no easy task for large enterprises, since they are forced to store part of the stocks of the irregular demand item in warehouses.

If for cost-effective trading it is necessary to maintain a high level of inventory turnover, then to ensure the demand for any product included in the trade nomenclature, it is necessary to store a wide range of rarely sold goods, which slows down the overall inventory turnover.

Inventory turnover is an important criterion that needs to be carefully analyzed.

As a result of all measures, there should be a decrease in the average annual cost of circulating production assets by 1.5 times.

To assess the turnover of working capital, the formula (16) is used:

Turnover ratio

Cob = Vр / CO (16)

where Kob is the turnover ratio (in turnovers);

Vр - proceeds from the sale of products (works, services), thousand rubles;

СО - the average value of the working capital, thousand rubles.

The duration of one revolution is calculated by the formula (17):

L = T / Cob (17)

where Dl is the duration of the circulation period of working capital, in days;

T - reporting period, in days.

In 2009 Kob 0 = 20054885/2653719 = 7.56

L 0 = 365 / 7.56 = 78.28 days.

In 2010 Cob 1 = 33090560/1822700 = 18.15

For 1 = 365 / 18.15 = 20.11 days.

The calculation shows that there is a decrease in the duration of the circulation period of working capital by 4 times, which indicates an acceleration of its turnover, which is a positive effect of planning.

The amount of absolute savings (attraction) of working capital can be calculated in two ways.

1. The release (attraction) of working capital from circulation is determined by the formula (18)

D CO = (CO 1 -CO 0) * Kvp (18)

where CO is the amount of savings (-), attraction (+) of working capital;

CO 1, CO 0 - the average value of the working capital of the organization for the reporting and base periods;

Kvp is the growth rate of production (in relative units).

D CO = (1822700-2653719) * 1.65 = - 1371181 thousand rubles.

2. The release (attraction) of working capital as a result of changes in the duration of the turnover is calculated by the formula (19)

DSO = (Dl 1 - Dl 0) * V 1odn, (19)

where Dl 1, Dl 0 - the duration of one turnover of circulating assets, in days;

V 1day - one-day sales of products, mln. Rub.

DSO = (20.11-78.28) * 91 = - 5293 million rubles.

The increase in the volume of production due to the acceleration of working capital (all other things being equal) can be determined using the method of chain substitutions:

D Vr = (Kob 1 -Ko 0) * CO 1

D Vp = (18.15-7.56) * 985650 = 10438033 thousand rubles.

The increase in the volume of production in the planned year will amount to 10,438,033 thousand rubles.

The influence of the working capital turnover on the increment of profit DR is calculated by the formula (20)

D R = R 0 * (Kob 1 / Kob 0) - P 0 (20)

where Р 0 - profit for the base period;

Kob 1, Kob 0 - the coefficients of the turnover of working capital for the reporting and base periods:

DR = -4160 * (18.15 / 7.56) - (- 4160) = -5824 thousand rubles.

From the calculations of the effectiveness of the proposed measures, it can be seen that in the future, after their implementation, it is required to slow down the turnover of working capital again, since the value of the base year 18.15 is high and the enterprise will increase its loss.

The slowdown in turnover will be accompanied by the diversion of funds from the economic turnover and their relatively longer death in inventories, work in progress and finished goods, which will help to strengthen financial condition enterprises of OJSC "KAMAZ-DIESEL".

Thus, as the calculations show, at the OJSC KAMAZ-DIESEL enterprise, the implementation of measures for the efficient use of working capital (namely, reducing the level of inventories to the optimal level, timely collection of receivables and taking measures to reduce the level of debt in the future) leads to reduce the loss of the enterprise, and as a result of increasing the efficiency of the use of working capital, improving the financial condition of the enterprise and increasing the business activity of the enterprise.