From the course "Enterprise Economics" to eachthe graduate of the economic faculty knows that current assets are a kind of aggregate of various production assets and funds of circulation, not in kind, but in money equivalent. The activity of any firm should be evaluated properly, often for this purpose analyze statistical information, specifically, the turnover ratio. The main task of production assets ismaintenance of the production sphere at the enterprise, and circulation funds are engaged in the relevant field. It is also known that the most basic conditions for efficient production and sales of products require the constant availability of inventories in production warehouses. These values are mainly consumed directly in the production process, as well as when storing or servicing already finished products. To characterize the statistical data in the enterprise, the turnover indicators are constantly used.
Proceeding from this, the working capital canname those assets of the enterprise, which in the process of production are able to fully transfer their own value to the created product, but they can only participate once in such a process, after which they lose their original form or change it.
These indicators enableto analyze the dynamics of the activity of the enterprise and form a further development policy. One of such indicators experts call the coefficient of working capital. Using it, you can find out how much current assets are cached per unit of marketable output. Determine this coefficient is easy enough, you just need to calculate the ratio of the average balance of current assets to the total volume of products sold by the enterprise.
Based on this, we can conclude thatthe existence of an inverse indicator, which would describe the number of turnover of assets of the enterprise for a certain period. This indicator is the turnover ratio, which is calculated as the ratio of the volume of sales to the average value of the balance of current assets on the balance sheet of the firm.
This ratio is a financial indicator of the intensity of use of the liabilities of the enterprise or its assets, that is, the speed or the number of their turnover for the selected time.
The turnover ratio can have several variations, among them the following are distinguished:
1. The ratio of revenue for the year to the average value of current assets is the turnover of current assets.
2. The ratio of annual sales proceeds and the value of stocks - inventory turnover.
And there are a lot of such coefficients, because this universal indicator makes it possible to analyze the flow of all the assets of the enterprise and identify the most necessary or, conversely, unnecessary resources.
That is, if in the calculation it was revealed thatthe annual turnover ratio of any assets is three, it means nothing less than the number of turns of these resources for twelve months.
It is also worth paying attention to indicatorsrationing of current assets, which are used as the development and formation of norms and norms for spending assets, which are necessary for the constant availability of minimum reserves at the enterprise. All means of the firm can be divided into normed and non-standardizable. In this case, the first include production stocks, and the second - the cash assets, finished products, as well as receivables.
Current assets are an important part of theother assets of the enterprise, therefore their analysis is an integral part of the formation of plans and forecasts for the production of products, as well as its implementation.