Information support of financial analysis. Information support of the financial policy of the organization 3 information support of financial management

14.08.2021

A necessary condition for the effective functioning of any enterprise is the availability of not only a material and financial base, but also information on the basis of which the coordination of the activities of internal structural units is carried out, as well as interaction with counterparties of enterprises, state, financial and credit and other external organizations. Therefore, the most important function financial management is the formation of an information base that allows you to analyze the processes occurring in a given period of time and, on this basis, make the right management decisions. Is it on the basis of the collection and analysis of information materials that the main task and function of financial management is realized? financial security entrepreneurship(control capital, its attraction, effective placement and use, management of cash flows). The entire array of information necessary for the implementation of the management process can be divided into two groups of information sources:
1) internal information generated on the basis of internal documents, primarily financial (limits; standards; internal control regulations; accounting, tax and depreciation policies adopted at the enterprise);
2) external information characterizing the state of the external environment in which the business entity operates in a given period of time, and the prospects for its change.
Internal information. It is of particular value for the financial services of enterprises, and it is internal information that gives a comprehensive picture of the state finance enterprise and prospects for its development. Therefore, in their daily activities, financial managers rely primarily on internal sources of information. They are necessary to perform all the main functions of financial management, including general financial analysis, mobilization and distribution financial resources, monitoring the execution of financial decisions.
The main advantages of internal information are its reliability and reliability, efficiency of receipt, regularity of formation. This information is also of interest to external users: credit institutions, tax authorities, public authorities, various institutional structures, and especially? business counterparties. However, the access of the latter to information sources of enterprises is significantly limited. For external users, the main and often the only source of information about the financial activities of the enterprise is its annual balance sheet. In financial management, balance sheets are also the most important information source, but not sufficient for effective management; a much larger database is needed.
Internal information sources used in financial management are divided into accounting and non-accounting. Accounting sources include accounting and statistical accounting and reporting; operational and management accounting; selective credentials. The financial statements used to assess the financial condition of the enterprise must contain data that allow: 1) to assess the dynamics and prospects for changes in the financial results of the enterprise; 2) assess the financial resources available to the enterprise, their sufficiency for the implementation of production and investment activities, ongoing changes in their composition and structure, the effectiveness of their use; 3) make informed management decisions in the field of investment policy.
Extra-recorded sources include materials of external and internal audit, intradepartmental (for example, by parent companies) and non-departmental (state) control (for example, acts of tax audits), explanatory and memorandums, etc.
A competent approach to both the formation of an information base and its use in the process of analyzing and making financial decisions is extremely important. Thus, the most important function of financial management is the analysis of financial indicators, proportions and ratios. Financial services must almost constantly monitor their dynamics. However, not only sharp deviations, but also a certain stability should attract the attention of financial managers. The former can be a random phenomenon, while negative processes can develop behind external stability. In the latter case, the analysis of the internal information base should be supplemented by an analysis of the external environment.
The basis of internal information is financial documents, on the basis of which financial analysis is carried out, which is an assessment of the retrospective (what happened in the past) and prospective (what will happen in the future) financial condition of an economic entity, taking into account the results of studying the dependence and dynamics of financial information indicators . Thus, the main purpose of financial analysis is to form an assessment of the company's activities and its financial position at a given point in time and on this basis? development of a development strategy for the fullest use of the financial and production potential of the enterprise.
The main information sources for calculating indicators and analyzing the financial condition are annual and quarterly financial statements: balance sheet, profit and loss statement, change report capital, Statement of cash flows, Appendix to the balance sheet, data accounting and the necessary analytical transcripts of the movement and balances of synthetic accounts.
The financial statements of the enterprise is the main source of information about its activities. Careful consideration of accounting reports reveals the reasons for the successes achieved or shortcomings in the work of the enterprise, helps to identify ways to improve its activities. A complete comprehensive financial analysis is necessary not only to assess the activities of this enterprise, but also in order to establish what impact the external and internal conditions of the enterprise's activities had on the current financial situation.
Of particular importance in the financial statements is the balance sheet of the enterprise. Balance sheet? This is a financial document expressing in monetary terms the property of an enterprise in terms of composition and sources of its formation on a certain date. The asset balance reflects the value of property debt rights that the company has at the reporting date. Assets provide insight into the economic resources or potential of an enterprise to meet future costs. The liabilities side of the balance reflects the sources of own funds, as well as the obligations of the enterprise for loans, loans, accounts payable. Thus, liabilities show the amount of funds received by the enterprise: their sources, and assets? how the company allocated the funds it received. The total amount of the asset must be equal to the total amount of liabilities to shareholders, creditors and investors.
There are peculiarities in the construction of balance sheets of enterprises in various countries. Thus, in the countries of Western Europe, sections of the asset are placed in ascending order of the degree of liquidity of their articles. Liability sections in the balance sheets of enterprises in these countries follow in ascending order of the degree of demand for the funds used by them. Evaluation of individual items is shown mainly at the level of the nominal amounts of receipt of funds at the disposal of the enterprise. The final section of the asset and liability is the results section.
The balance sheets of Russian enterprises are mainly built according to the scheme of balance sheets of Western European countries. To perform analytical studies and assessments of the structure of the asset and liabilities of the balance sheet, its articles are subject to grouping. The main features of the grouping of asset items are the degree of their liquidity, i.e., the rate of conversion into cash, the direction of use of assets in the economy. Depending on the degree of liquidity, the assets of the enterprise are divided into two large groups: non-current assets (immobilized funds) and current assets (mobile funds). Current assets are more liquid than non-current assets.
Profit and loss statement reflects the financial results of the enterprise for a certain period of time, the ratio of income and expenses in the process of financial and economic activities; the difference between income and expenses is net profit. The profit and loss statement is used in the assessment of reserves for increasing equity capital, and also serves as the initial basis for calculating tax payments and dividends.
The Statement of Changes in Equity is a form of financial reporting prepared as an explanatory note to the Profit and Loss Statement. The report reflects: 1) the amount of capital at the beginning reporting period; 2) increase / decrease in capital due to additional issue or change in par value shares, revaluation and (or) increase in property, reorganization (merger, accession) legal entity, income/expenses causing, in accordance with the rules of accounting policy, a change in the amount of capital; 3) the amount of capital at the end of the reporting period.
The Cash Flow Statement reflects receipts, expenditures and net changes in cash in the course of the current economic, investment and financial activities of the enterprise for a certain period. The value of this report lies in the fact that it allows you to determine the ability of an enterprise to receive an increase in cash in the course of financial and economic activities; its ability to meet its obligations, pay dividends and remain creditworthy; discrepancies between annual profit(loss) and real cash flows on the main economic activity; impact on the financial condition of the enterprise adopted investment and financial decisions.
Actually, these four documents (Balance Sheet, Profit and Loss Statement, Statement of Capital Flow, Statement of Cash Flows, Appendix to the Balance Sheet), mutually complementing and revealing each other, give a fairly complete picture of the financial condition of the enterprise. They allow you to determine the main factors and conditions for the formation financial resources, positive and negative trends in management finance and draw reasonable conclusions about the prospects for the development of this enterprise. Nevertheless, a deep analysis requires the use of other information sources contained in analytical accounting.
external information. The formation of an information base that characterizes the conditions and external factors of the functioning of enterprises is an equally important task. financial management. External information includes indicators and factors of an external order that are not explicitly related directly to the activities of individual commercial organizations. The general economic situation, determined primarily by the economic policy being pursued, is of essential, often the main, importance here. In Russian practice, a particularly negative impact in the 1990s. at first, such factors as the crisis state of the finances of the real sector and the state, instability financial market; "shock" decline in production, then? prolonged stagnation of the manufacturing sector, unstable and unbalanced economic growth; non-fulfillment by the state of its financial obligations; unsettled legal framework that regulates the organizational and legal forms of legal entities, the grounds for the emergence and procedure for exercising the right property and other real rights, as well as other property and other relations. An extremely negative impact was also exerted by the frequent changes in tax legislation, which makes tax policy unpredictable.
In modern theory, there is no clear classification of external factors that form the external economic environment in which enterprises operate. In the general sense, these are factors that are practically uncontrollable on the part of enterprise managers (behavior of suppliers, consumers, creditors and other counterparties, the state of the economy, legal norms, etc.). If we try to group external economic factors operating at the local level, we can distinguish the following main groups:
? general economic ones, which form a general climate in the country for the implementation of economic activities by economic entities (the level of socio-economic development, the development of market financial infrastructure, the cyclical phase and other macroeconomic indicators and factors);
? sectoral, operating predominantly within an industry and determining the prospects for the development of the industry as a whole;
? regional, forming the conditions for economic activity on the territory of a particular region or group of regions;
? legal (regulatory) ? target settings of the state-legal mechanism for regulating economic processes.
The latter (the main directions of economic policy and the state-legal mechanism for its implementation) are in a special range of external factors that form the legal and tax environment. The set of normative-legal norms can be conditionally divided into two groups. The first group consists of laws regulating general issues entrepreneurial activity(organizational and legal forms of enterprises, ownership and other property rights; the right of economic management, the right of operational management and other acts). As a rule, these norms do not have a direct impact on the composition and volumes financial resources of enterprises and are referred to as indirect regulators.
The second group consists of regulatory legal acts that implement the power of the state in the field of economy. The effect of such acts, especially those that form budgetary and tax legislation and relate to the sphere of tariff and price regulation, in a direct (quantitative) form is reflected both in the sources of formation of financial resources and in the structure expenses enterprises. For example, state grants certain branches of industry and agriculture (quite a widespread world practice) increase the volume of financial resources. Essentially, in the same direction tax incentives(“tax expenditures” of the state), which, although they do not lead to a direct increase in the income of enterprises, however, reduce tax payments and, accordingly, increase the volume of financial resources that can be used by enterprises for investment purposes. On the contrary, the abolition of tax incentives, an increase tax rates or the introduction of new taxes reduce the amount of funds available for investments.
Normative legal acts relating to the first group, although they do not contain specific financial obligations to the state, nevertheless establish mutual rights, duties and responsibilities, including financial ones, between participants in enterprises, their counterparties, and other interested parties. Ultimately, these norms also have a very significant impact on the organization of enterprise finance, both in terms of the sources of formation of financial resources and their use, and, accordingly, the features of financial management. At development and implementation of financial policy the management of the organization is forced to constantly make management decisions, choosing from a variety of alternative options. Timely and accurate information plays an important role in choosing the most advantageous solution.
In the current economic situation, business entities, especially large corporations, spend a lot of money and time on constant ensuring the information component of its financial policy. The cost of information is determined not only by the amount of living and embodied labor spent on its formation or development, systematization, analysis and storage, it is also influenced by its reliability, timeliness of receipt, comparability and exclusivity. The market value of information should not be perceived only as its direct purchase for money in the financial markets. The lack of such information can cost the enterprise huge amounts of direct losses, lost profits, tactically and strategically incorrect management decisions. Information support of decisions made is one of the key elements of the organization's management system.
Information is information that reduces uncertainty in the area to which it relates.
As information, you can evaluate data that reveal the object and subject of study from a new, previously unknown side. The following requirements apply to the information:
. significance - how much the involved information influences the results of financial decisions;
. completeness - the completeness of the range of information carriers and indicators necessary for analysis, planning and decision-making;
. reliability - how the generated information adequately reflects the real state and results of financial activities;
. timeliness - compliance of the generated information with the need for it over the period of its use;
. understandability - ease of construction and accessibility of understanding by those categories of users for whom it is intended;
. relevance (selectivity) - a sufficiently high degree of use of the generated information in the process of managing the financial activities of the organization;
. comparability - the possibility of a comparative assessment of indicators in dynamics;
. efficiency - the costs of attracting certain information indicators should not exceed the effect obtained as a result of its use;
. necessary sufficiency - the volume and accuracy of information necessary for a particular enterprise.

Information support of the financial policy of the enterprise can be divided into two large categories: formed from external sources and internal sources.

The system of indicators for information support of the financial policy of the enterprise, formed from external sources:
1) indicators characterizing the general economic development of the country: the growth rate of gross domestic product and national income; volume of issue of money in the period under review; cash income of the population; deposits of the population in banks; inflation index; central bank discount rate.
This type of informative indicators serves as the basis for analyzing and forecasting the conditions of the external environment for the functioning of an enterprise when making strategic decisions in financial activities (strategy for the development of its assets and capital, investment activities, formation of a system of target areas of development). The formation of a system of indicators for this group is based on published state statistics.
2) indicators characterizing the financial market situation:
. types of basic stock instruments (shares, bonds, derivatives, etc.) circulating on the exchange and over-the-counter stock markets;
. quoted offer and demand prices of the main types of stock instruments;
. the credit rate of individual commercial banks, differentiated by the timing of the provision of a financial loan;
. the deposit rate of individual commercial banks, differentiated by demand deposits and term deposits;
. the official exchange rate of individual currencies.
The system of normative indicators of this group serves to make management decisions when forming a portfolio of long-term financial investments, short-term financial investments, when choosing options for investing free cash, etc. The formation of a system of indicators for this group is based on periodic publications of the Central Bank, commercial publications, stock and currency exchanges, as well as official statistical publications;
3) indicators characterizing the activities of counterparties and competitors. The system of informative indicators of this group is necessary mainly for making operational management decisions on certain aspects of the formation and use of financial resources. Sources for the formation of indicators of this group are publications of reporting materials in the press (for certain types of economic entities such publications are mandatory), the corresponding ratings with the main performance indicators (for banks, insurance companies), as well as paid business information provided by individual information companies;
4) normative and regulatory indicators. The system of these indicators is taken into account when preparing financial decisions related to the peculiarities of state regulation of the financial activities of enterprises. Sources for the formation of indicators of this group are legal acts adopted by various government bodies.
Indicators of information support of financial management, formed from internal sources, in turn, can be divided into two groups:
1) primary information:
. data from the forms of financial statements (indicators of the balance sheet; income statement; statement of changes in capital; statement of cash flows; appendix to the balance sheet; report on the intended use of funds received)1, as well as indicators of reporting generated in accordance with International Financial Reporting Standards;
. indicators of operational financial and management accounting. The system of informative indicators of this group is widely used by both external and internal users. It is applicable in financial analysis, planning, development of financial strategy and policy on the main aspects of financial activity, gives the most aggregated view of the financial performance of the enterprise;
2) information obtained from financial analysis.
The main stages of the financial analysis of the organization's activities are presented in fig. 1.4.
In financial analysis, the following methods can be used ":
. horizontal analysis (comparison of financial indicators with indicators of the previous period and several previous periods);
. vertical analysis (structural analysis of assets, liabilities and cash flows);
. comparative analysis (with industry-average financial indicators, competitors' indicators, reporting and planned indicators);
. analysis of financial ratios (financial stability, solvency, turnover, profitability);
. integral financial analysis, etc.
Thus, for the successful implementation of the financial policy of the enterprise, management must, firstly, have reliable information about the external environment and predict its possible changes; secondly, to have information about the current parameters of the internal financial situation; thirdly, systematically conduct an analysis that allows you to evaluate the results of economic activity of its individual aspects, both in statics and in dynamics.
In addition, the enterprise must pursue an open information policy, especially with potential investors, creditors, and authorities. Financial policy, not supported by regular, reliable information exchange with investors, adversely affects the market value of the enterprise.

Rice. 1.4. The main stages of assessing the financial condition of the organization

It is necessary to know and understand future leaders. There is no doubt that the key to success will be the ability to clearly navigate the flow of information and the ability to effectively use this information.

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In a market economy, the value objective financial information and correspondingly, financial reporting occupies a priority position.

Financial statements- this is a set of reporting forms compiled on the basis of financial accounting data in order to provide external and internal users with generalized information about the financial position of the company in a form that is convenient and understandable for these users to make certain business decisions.

The information must contain information for:

· Estimates of the financial condition.
· Cash flow estimates.
· Making investment decisions.

Main users of financial statements are:

· investors (owners, ordinary shareholders, institutional investors);
Lenders (commercial banks and other institutional lenders, suppliers who, on the basis of the company's financial information, develop the conditions for commercial lending to this company);
· trade unions and employees regarding the assessment of the facility's ability to pay higher wages;
customers of products regarding the assessment of its ability to fulfill its obligations;
· state bodies regarding the fulfillment of tax obligations, the fulfillment of the requirements of state regulation of financial activities;
· the population about the prospects for business contacts with an economic object;
· business and scientific circles, studying the potential place in their industry, in national and foreign markets, as well as determining its ratings.

Parties interested in obtaining information, depending on their requests and needs, can be divided into two categories: external and internal.

Internal users- managers, management, financial managers. In some cases, this group also includes the owners of the enterprise.

External Users- creditors, potential investors, counterparties of the enterprise, tax authorities, the financial market represented by the stock exchange and others.

Rice. one.

Effective solution of financial management tasks requires the use of adequate information resources, which can be divided into internal and external according to the sources of formation and attitude to the control object.

External Information Resources- this group includes information about other manufacturers, potential consumers, suppliers. Such information can be obtained in information markets. The following main sectors of the world information market are distinguished:

1. Business information serving the business area:
- macroeconomic (characterizes the general state of the economy);
- financial (characterizes the conjuncture of various markets);
- exchange (about quotes on the stock market);
- commercial (contains information about enterprises, their production relations, etc.);
- · statistical (economic, financial, exchange and other information presented in the form of time series);
- · business news (submitted by news agencies and covers various business areas).
2. Scientific and professional information.
3. Socio-political and legal information.
4. Mass and consumer information.

Internal information resources- this group contains information that is created in the course of the operation of the enterprise and is formed by specialists from its various departments.

Internal information resources can be organized:

1. By economic content:
- Management accounting data
- · various estimates and budgets;
- Planned and operational data on production and sales;
- data on purchases and consumption of raw materials;
- Cost information, etc.
2. According to the sources of formation:
- accounting;
- financial department and others.

The essence of financial information and its users. Accounting requirements and its elements. Analysis of the cost, profit and profitability of products, the use of labor resources of the enterprise. Organization of document flow in accounting.

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Information support of financial analysis. Information support of the financial policy of the organization 3 information support of financial management

The essence of financial information and its users. Accounting requirements and its elements. Analysis of the cost, profit and profitability of products, the use of labor resources of the enterprise. Organization of document flow in accounting.

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