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Transcript of gestiune_2014Oros Simina
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Universitatea din OradeaFacultatea de tiine Economice
Specializare: Contabilitate i informatic de gestiuneForma de nvm!nt: "i
#estiunea financiar a ntreprinderii
$rof coordonator: lect% univ% dr% Emil C&irila asist%univ%dr% 'aureniu (ro)
Student: Oros Simina* an ++* gr ,
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CUPRINSCapitolul 7% Consideraii #enerale%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%-
7%7 Evoluia cifrei de afaceri* a rezultatului net i%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%-a activelor totale ale societii%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%-
Capitolul ,% 2ealizarea diagnosticului financiar%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%8
,%7 1naliza ratelor de structur ale activului%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%8
,%, 1naliza ratelor de structur ale pasivului%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
,%- 1naliza ec&ilibrului financiar%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%7-
2.3.1 Situaia neta(SN)%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%7-
b) Fondul de rulment (FR)%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%78
c) Nevoia de fond de rulment (NFR)%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%7;d) Trezoreria net (TN)%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%7;
,%8%1naliza soldurilor intermediare de gestiune%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%7C1F?%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,.
,%< 2atele de indatorare%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,.
,%@ 1naliza ratelor cinetice> de gestiune?%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,,,%= 1naliza rentabilitatii%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,-
2..1.Ratele de rentabilitate economice brute%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,-
2..2.Ratele rentabilitatii economice nete%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,8
2..3.Rata rentabilitatii financiare (Rf)%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,8
,% 1naliza pragului de rentabilitate din eAploatare%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,;
,%7. 101'+"1 2+SCU'U+ (E F1'+5E0/%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,@
2.1!.1 "etoda lui #ltman%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,@
2.1!.2 "etoda $onan%&older%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,
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Capitolul 1. Consideraii Generale
Evoluia cifrei de afaceri, a rezultatului net i
a activelor totale ale societii
$entru efectuarea diagnosticului financiar se apeleaz la datele contabile carereprezint cuantificarea activitii economice dintrBo firm si anume: bilan* contul de profit i
pierdere* unele note eAplicative* balana de verificare c!t i la informaiile coninute n bilanulfinanciar i n bilanul funcional%
0ecesitatea formulrii unor concluzii pertinente privind situaia ntreprinderii impuneanaliza n dinamic a indicatorilor selectai* motiv pentru care rezultatele financiare alesocietii vor fi urmrite pe parcursul a doi ani succesivi ,.77 i ,.7,%
Societatea comercial 15$'O S%1 a fost nfiinat n anul 77 i are ca principalobiect de activitate fabricarea de instrumente si dispozitive pentru masura* verificare* control*navigatie% (atorit numrului de anga)ai: 7@, in ,.77 si 7-; in ,.7, dar i a valorii cifrei deafaceriactivelor totale societatea este ncadrat n cadrul +0/2E$2i0(E2+'O2 512+%$rincipalii clieni sunt persoane fizice si )uridice%
$rincipalii indicatori financiari ai societii comerciale 15$'O S%1 pentru anii ,.77i ,.7, sunt:
Indicator !"11 !"1! # #$Cifra de %faceri 7,%@=7%=;7 7.%8;%.@, B7=-
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Capitolul 2. Realizarea diagnosticului
fnanciar
2.1 Analiza ratelor de structur ale activului
&enu'ire indicator!"11 !"1!
# #$valoric procentual valoric Procentual+mobilizri necorporale
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7? Rata activelor i'o(ilizate ;R%I
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b? 2ata imobilizrilor corporale >2+C? este dependent de natura activitii ntreprinderii i decaracteristicile te&nice ale acesteia%
2+C 7..
total1ctiv
corporalei+mobilizGr
'a societatea analizat* rata imobilizrilor corporale nregistreaz o tendin decrestere usoara a)ungand la ;*88D in ,.7, de la ;=*;D in ,.77* ca urmare a unor investitii %Ialorile nregistrate variaz de la o ramur de activitate la alta% 4n ramurile industriei grele in cele care solicit ec&ipamente importante ca volum* rata nregistreaz valori ridicate* ntimp ce n ramurile cu dotare te&nic slab rata imobilizrilor corporale este relativ redus%
c? 2ata imobilizrilor financiare >2+F? reflect politica de investiii financiare a firmei*precum i legturile financiare stabilite cu ntreprinderile la care deine participaii la capitalulsocial%
2+F 7..
total1ctiv
financiarei+mobilizGr
0ivelul acestei rate este str!ns legat de mrimea firmei i de politica sa financiar*av!nd valori ridicate n cazul &oldingurilor% 'a societatea analizat* rata imobilizrilorfinanciare nregistreaz o tendin de . D n perioada ,.77B,.7,* dat fiind faptul casocietattea nu detine imobilizari financiare%
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2%6E4E534U7I% R%2E43R &E S2RUC2UR% % %C2I5E43R CIRCU4%N2E
Nr.
Crt
Indicator Simbol Perioada analizat
2!11 2!12
7 2ata activelor circulante 2 1C1c1tA7.. 8.*@;D -*=D
, 2ata stocurilor 2 S/St1t A7..
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2St 7..
total1ctiv
Stocuri
2ata stocurilor este influenat de natura activitii ntreprinderii i de durata cicluluide eAploatare* nregistr!nd valori mai ridicate la ntreprinderile din sfera produciei i
distribuiei de mrfuri i valori sczute n sfera serviciilor% +nterpretarea evoluiei n timp astocurilor necesit corelarea acestora cu cifra de afaceri% 'a societatea analizat* ratastocurilor nregistreaz valori reduse de 2Cr? reflect politica financiar a ntreprinderii i esteinfluenat de natura clienilor i de termenele de plat acordate partenerilor de afaceri%
2Cr 7..
total1ctiv
Creante
2ata creanelor nregistreaz valori nesemnificative la ntreprinderile aflate n contactdirect cu o clientel care realizeaz plata n numerar >comerul cu amnuntul* prestrile de
servicii ctre populaie? i valori mai ridicate n cazul decontrilor fr numerar%1naliza structurii creanelor trebuie aprofundat av!nduBse n vedere:
J natura creanelor >din ciclul de eAploatare* din afara eAploatrii?J certitudinea realizrii lor >certe sau incerte?HJ termenul de realizare >creane sub -.*
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&enu'ireindicator
!"11 !"1!# #$5aloric Procentual valoric Procentual
Capital social
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2SF 7.. total$asiv
permanentCapital
$reponderena capitalului permanent n resursele financiare confer un grad ridicat desiguran prin stabilitate n finanare% Ialoarea minim acceptabil a ratei pentru o firm
industrial este de ;.D* iar o valoare normal oscileaz n )urul a
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-< Rata autono'iei financiare la ter'en ;R%=2lo(al ;RIG
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)< Rata de ?ndatorare la ter'enreflect proporia n care datoriile pe termen mediui lung particip la formarea capitalurilor permanente* valoarea ratei fiind considerat normaldac este mai mic dec!t ;. D%
24/ 7..permanentCapitale$rovizioanlungsimediutermenpe(atorii
+
+n perioada analizat rata de ndatorare la termen este . pentru ca firma nu are datoriipe termen mediu si lung si nici provizioane%
!.- %N%4I:% EC@I4I6RU4UI =IN%NCI%R
!.-.1 Situaia neta;SN
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S01/B(/S0 1ctiv /otal J (atorii /otale
1ctiv /otal 1ctive +mobilizate L 1ctive Circulante L C&% n avans
(atorii totale (atorii pe termen scurt L(atorii pe termen mediu si lung LIenituri in avans L$rovizioane
1/.7,%,.8%
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F27 7%,@%;7. B 7,%787%-7@ @%7-=%7-NF2 @%7-=%7- B @%.8-%-@- 8%=,.
Fondul de rulment reflect realizarea ec&ilibrului financiar pe termen lungH adic* seurmre te dac societatea dispune de o mar) de securitate* care s o prote)eze de anumiteevenimente neprevzute%
Fondul de rulment pozitiv reflecta realizarea ec&ilibrului financiar al societ ii petermen lung* adic societatea dispune de o mar) de securitate* care o prote)eaz de
poten ialele evenimente neprevzute% Se respect principiul de gestiune financiar: la nevoipermanente se aloc surse permanente%
Fondul de rulment negativ reflect dezec&ilibrul financiar al societ ii pe termen lung*adic societatea nu dispune de o mar) de securitate* care s o prote)eze de poten ialeleevenimente neprevzute% 0u se respect principiul de gestiune financiar: la nevoi
permanente se aloc surse permanente%
+n perioada analizat* fondul de rulment este pozitiv aspect favorabil %Se manifest otendin de crestere* aspect favorabil pentru societate%
=ondul de rul'ent se ?'parte inA
=ond de rul'ent propriu ;=RP