Analysis of fixed assets. Analysis of the structure and dynamics of fixed assets Commissioning and retirement ratio of fixed assets

Fixed assets are enterprise facilities that are used in the long term for the purpose of carrying out production activities. To calculate the efficiency of use of fixed assets, it is calculated a number of indicators, one of which is fixed assets renewal ratio.

Definition

The coefficient of renewal of fixed assets is considered to be ratio of the cost of acquired fixed assets to the cost of existing ones at the end of the reporting date. The coefficient contains the ratio of the book value of newly commissioned fixed assets to the book value of existing ones for the same period. Detailed financial information for the calculation is determined according to the balance sheet of an industrial organization.

It is advisable to carry out the calculation for all parameters of the enterprise's operating system, including industrial and organizational means, its debit, sub-accounts of fixed assets, as well as for all categories and types of specially designed equipment. It seems possible to calculate the renewal coefficient separately for newly commissioned industrial assets and separately for fixed assets that are already in use by an industrial organization.

With an increase in this indicator, statistics indicate that new, high-quality, special equipment has appeared in the work shops of the enterprise. This trend creates favorable working conditions for company employees, and also increases productivity, product quality and increased production volumes. Due to such conditions, competitiveness in the foreign economic market increases.

Accordingly, the higher the renewal rate in a country’s industries, the higher economic potential. It is advisable to consider the renewal rate in relation to the retirement rate. If the retirement rate prevails over the renewal rate, this means that the OS in the enterprise is retired more than it is updated. In relation to this, the book value of the calculated fixed assets decreases.

If renewal rate exceeds attrition rate, then presumably the enterprise is pursuing an increasing financial policy and expanding the production of the enterprise.

Necessity

Indicators of growth and renewal lead to the development of fixed assets of an industrial organization. When the owner of an enterprise uses PF, the concept is implied keeping them in working order for operation, thereby defining the goals of the renovation, as well as the implementation of repairs and reconstruction.

Carrying out a major overhaul of an industrial plant involves the complete or partial replacement of some buildings and structures of the enterprise, which is often regarded as modernization of production.

Current repairs are carried out by replacing small parts of fixed assets, which authorizes the owners to maintain the premises in certain sanitary and hygienic conditions. Distribution costs The costs of maintaining and carrying out routine repairs of an industrial enterprise are considered.

Repair, as a share of the renewal of the financial assets, represents the restoration of the primary cost of assets without taking into account obsolescence. When obsolescence occurs earlier than physical wear and tear, the owner comes to the need to modernize fixed assets in the form of eliminating physical wear and tear through technical renovation.

Modernization of production improves the economic performance of the enterprise and equipment as a whole, increases the technical level and productivity of old equipment to the technical parameters of new equipment, and also ensures the economic benefits of labor.

Carrying out an update of the fund, confirmed by a new technical base, often leads to imbalances in production. It is for this reason that owners often update the OS using reconstruction or technical re-equipment.

Technical re-equipment represents the introduction of a new material or technical base, upon completion of which, without additional labor, re-equipment occurs, the technical level increases, new processes for maintaining, storing and selling finished goods or providing services to the population are determined.

At reconstruction technologies are being introduced for complete re-equipment and radical restructuring of existing fixed assets. These concepts differ in the need to carry out a new implementation. The rate of renewal is influenced by the growth rate factor and the scale of disposal of obsolete structures and equipment.

Calculation and reflection of intensity

The indicator of intensity of fund renewal is calculated for assessing the extent of new funds introduced to replace the original ones. Intensity is calculated as the ratio of the amount of retired funds to the amount of primary fixed assets that were renewed during the year.

To calculate indicator of intensive use of technical equipment, it is necessary to make the ratio of the actual volume of production to the planned volume (output):

Kiyo = Vfact / Vplan

To determine the efficiency of use of fixed assets, indicators are calculated capital intensity And return on assets.

Capital productivity is calculated as the ratio of production output (per year) to the average value of the sum of the cost of fixed assets (per year) and shows the degree of return on the authorized capital:

Fotd = B / Avg.year

Capital intensity shows the extent to which capital investments are fixed in the authorized capital, and is calculated in proportion to the inverse order of capital productivity:

Femk = Avg.year / V

To determine the intensity factor, the following calculations should be performed:

Quintens. = Reset.os / Reset.os

Therefore, the intensity indicator shows capital release rate in the case of the acquisition of new equipment, it characterizes an increase or decrease in the rate of technical equipment. If the intensity indicator increases, then this indicates a reduction in the period of use of the operating system and the disposal of dilapidated production facilities.

Formula

For a detailed review and a clear example of calculating the OS update ratio, you should perform the following calculation:

Cobnovl = First.input.OS / Last.os * 100%, where

First input OS – cost of primary fixed assets for the reporting period, End.os – cost of fixed assets at the end of the reporting period.

Therefore, we can conclude that the calculation of coefficients has important in the financial, economic and technological activities of the enterprise. If the renewal coefficient exceeds the value of the retirement indicator, then the enterprise carries out expanded production relative to the operating system; if it is less, then the reproduction of the operating system is narrowed.

The lower the value of the renewal indicator, the more the service life of buildings and structures increases. During the period of prosperity of the country's economy as a whole and the rise of innovation activity, the renewal rate at enterprises returns to normal or increases.

Calculating and studying renewal rates gives businesses the opportunity to plan, expand and improve production productivity.

The coefficient of renewal (input) of fixed assets (K rev) proves the proportion of new fixed assets in the composition of all fixed assets and is calculated by the formula:

where C input is the initial cost of newly introduced fixed assets for the analyzed period, thousand rubles;

Ccon - the cost of fixed assets at the end of the same period, thousand rubles.

The retirement rate of fixed assets (K vyb) shows what proportion of fixed assets available at the beginning of the reporting period was retired during the reporting period due to disrepair and wear and tear, and is determined by the formula:

where C selected is the cost of retired fixed assets for the analyzed period;

From beginning - the cost of fixed assets at the beginning of the analyzed period, thousand rubles.

The growth rate of fixed assets (Kpr) characterizes the process of updating fixed assets, taking into account the amount of disposal of obsolete assets and is determined by the formula:

An example of calculating the coefficients of renewal, disposal and growth of fixed assets for the analyzed period 2003-2006. is given in table. 1.

Table 1. Calculation of coefficients for renewal, disposal and growth of fixed assets for the analyzed period

			Price		Coefficient
	at the beginning of the year	at the end of the year		growth		growth
	at the beginning of the year	at the end of the year	fixed assets, thousand rubles			growth




Total for the analyzed period

Each enterprise must independently, based on its capabilities, economic feasibility, as well as development prospects and competitive requirements, determine the advantages and preferences of input, disposal or growth.

Analysis of the technical condition of fixed assets is carried out by comparing the coefficients with each other. For example, comparing the coefficient of renewal of fixed assets with the coefficient of retirement makes it possible to establish the direction of change in fixed assets: if the ratio of the coefficients is less than one, then fixed assets are used primarily to replace obsolete ones; if the ratio of the coefficients is greater than one, new fixed assets are used to replenish existing ones. In our example, fixed assets over all years of the study were used to replenish existing funds, which ensured their significant increase.

When determining the technical condition of fixed assets, one should also calculate the period for their renewal. This allows the company to more clearly see its capabilities for updating and the prospects for developing its technical base.

The renewal period for fixed assets (T rev) is determined by the ratio of the initial cost of fixed assets at the beginning of the period to the cost of incoming fixed assets (C input) for the analyzed period:

Based on the data in table. 1 update period by year of the analyzed period is as follows (Table 2).

Table 2. Time frame for updating fixed assets


1. Initial cost of fixed assets, thousand rubles.
2. Commissioning of fixed assets, thousand rubles.
3. Duration of renewal of fixed assets, years (page 3 = page 1 / page 2)

As we can see, a positive fact is the fact of a systematic reduction in the renewal period of fixed assets, which during the analyzed period decreased by more than 5.5 years.

The wear rate of fixed assets (K wear) characterizes the average degree of their wear and is determined by the formula:

where C out is the cost of depreciation of all or corresponding types of fixed assets, thousand rubles;

C p - the cost of all or individual types of fixed assets, thousand rubles.

The serviceability coefficient of fixed assets (Kr) shows what share their residual value is of the original cost for a certain period. It is determined by the formula:

The serviceability coefficient of fixed assets can also be calculated by subtracting the percentage of wear and tear from 100%.

Calculation of depreciation and serviceability rates of fixed assets is carried out according to table. 3.

Table 3. Calculation of wear and service rates of fixed assets at the enterprise for 2003-2006.

Initial cost of fixed assets, thousand rubles.		Residual value of fixed assets, thousand rubles.		Depreciation of fixed assets, thousand rubles.		Wear rate		Usability factor
at the beginning of the year	at the end of the year	at the beginning of the year	at the end of the year	at the beginning of the year	at the end of the year	at the beginning of the year	at the end of the year	at the beginning of the year	at the end of the year
				gr. 6 = gr. 2 - gr. 4	gr. 7 = gr. 3 - gr. 5	gr. 8 = gr. 6 / gr. 2	gr. 9 = gr. 7 / gr. 3	gr. 10 = gr. 1 - gr. 8	gr. 11 = gr. 1 - gr. 9

As you can see, the depreciation of fixed assets at the enterprise is significant (20%), but the positive thing is not the deterioration in the serviceability coefficient of fixed assets, but its stabilization.

Analysis of the technical condition of fixed assets requires the enterprise to develop a program for introducing new equipment and commissioning new production facilities. At the same time, special attention is paid to the introduction of advanced equipment, to increasing the share of highly mechanized and automated production processes that increase the competitiveness of the enterprise and its products.

To maintain the technical level of the enterprise, its uninterrupted functioning and development, it is necessary to carry out work to maintain fixed assets.

analysis of the implementation of the fixed assets repair plan;
determination of the share of capital repair costs to the average annual cost of fixed assets and to the amount of depreciation;
analysis of the enterprise's repair base.

Analysis of the implementation of the plan for the repair of fixed assets on the basis of primary plant accounting data allows us to determine:

repair costs - total;
including the costs of major repairs and from there the costs of repairs carried out in an economic way.

Comparison of costs according to the plan and actual data allows us to analyze the implementation of the plan for the repair of fixed assets using all analyzed indicators, as well as by calculating the share of capital repairs and the share of work performed by the enterprise itself.

Calculation of the share of capital repair costs to the average annual cost of fixed assets and the amount of depreciation allows us to determine how fully the in-plant source of financing is used, and to establish how the volume of repair work changes depending on the average annual cost of fixed assets.

Practice shows that enterprises often do not fully use depreciation funds for repairs or for other purposes.

To determine the amount of financing for repair work and the level of its use, it is advisable for enterprises to create a repair fund. It is especially important to create it at those enterprises where large volumes of repair work or complex and expensive repair work on individual objects are carried out. At the same time, the repair fund should be created not in thousands of rubles, as is done in many enterprises, but as a percentage of the average annual cost of fixed assets. This allows you to change the volume of financing of repair work for reporting periods depending on changes in their average annual cost over the same periods.

Economists of the enterprise, with the involvement of the chief mechanic and power engineer with knowledge of the system of scheduled preventive maintenance of the expected volume of repair work, the volume of repair costs for a number of years of the past period, taking into account the specifics of the enterprise and a number of other factors, determine the estimate of repair costs for the planned year. Next, the specific weight of the cost estimate amount is calculated as a percentage of the cost of fixed assets at the beginning of the year. And this percentage for the entire planned year is taken as fundamental for determining the amount of repair costs for the planned period.

For example, the estimate of repair costs for 2006 amounted to 200 thousand rubles. The average annual cost of fixed assets is determined for 2006 - 4000 thousand rubles. We determine the share of the repair cost estimate to the cost of fixed assets (200 / 4000) × 100 = 5%. Next, the amount of repair costs for each reporting period is calculated. If at the end of the first quarter the cost of fixed assets was 3,800 thousand rubles, then the volume of financing for this period was equal to 190 thousand rubles. (3800 thousand rubles × 5%), and if in the second quarter fixed assets amount to 4300 thousand rubles, then the volume of financing for repair work is 215 thousand rubles. (4300 × 5), etc.

This approach to the formation of repair costs makes it possible to determine the amount of costs in advance with a sufficient degree of accuracy, to prevent sharp fluctuations in the cost of production for the reporting period and to predetermine the expected profit.

To determine the repair capabilities of the enterprise and the need for development, an analysis of the repair base is carried out. To do this, it is recommended to compare over a 3-5-year period of time the average number of workers of the enterprise with the number of workers employed in repair services, as well as the number of units of installed equipment in the plant with the number of it in repair services. In this case, if possible, it is necessary to take into account the technical parameters of the equipment used, changes in repair costs in the cost of production, the level of qualifications of repair personnel, the average level of their wages and other indicators.

Analysis of technical and economic indicators of the use of fixed assets

Analysis of technical and economic indicators of the use of fixed assets includes:

analysis of equipment usage indicators by time and power;
analysis of equipment usage indicators by quantity;
shift ratio analysis;
general analysis of capital productivity;
factor analysis of capital productivity;
analysis of the efficiency of development of fixed assets.

Analysis of equipment usage indicators by time and power

Analysis of equipment use over time (extensive use) comes down to determining the changes that occurred in the reporting period compared to the base period due to the reduction of various types of downtime and unscheduled interruptions.

Extensive use of equipment consists in determining the time of its actual operation and comparing it with various funds of time: calendar (T k), routine (T r), located according to plan (T pl).

The level of equipment use over time is characterized by coefficients calculated as the ratio of actually worked time: to the calendar fund; to the regime fund; to the fund available according to the plan (see Table 4).

Table 4. Example of calculating equipment usage by time per month

Indicator	Symbol	Absolute expression

Number of calendar days in a month
Number of working days
Number of shifts
Established shift duration, hours
Number of installed equipment
Number of operating equipment
Calendar time fund, machine hours (30 × 24 × 10)
Regime fund of installed equipment (22 × 2 × 8 × 10)
Scheduled repair time, machine hours
Fund of time available according to the plan, machine hours (3520 - 120)
Downtime, machine hours
Actual time worked, machine hours
Odds: a) T fact / T k b) T fact / T r c) T fact / T pl

Equipment utilization analysis by power (intensive use) expresses the degree to which the equipment's capacity is used during its actual operation.

The level of equipment utilization in terms of power is characterized by the coefficient of intensive equipment load (Kin), calculated as the ratio of the basic specific labor intensity of products (T.b.) to the reported specific labor intensity (T.u. from):

The specific labor intensity (T y) of products, respectively, in the base or reporting periods is determined by the ratio of the actual labor intensity of products (T fact) to the actual volume of production (VP) in value terms:

At enterprises where homogeneous products are produced, the indicator of intensive use of equipment is determined by the formula:

where N fact is the actual production output per unit of time in the corresponding natural units of measurement;

N max - the maximum possible quantity of products according to equipment performance standards for the same period of time and in the same units of measurement.

The productivity standard is the calculated potential productivity of the equipment per unit of operating time.

Analysis of equipment usage indicators by quantity

Analysis of the use of equipment by quantity shows the quantitative change in the use of equipment at the enterprise in the reporting period compared to the base one.

Available equipment - all equipment of the enterprise, regardless of its location and technical condition.

Installed equipment - equipment that has been put into operation, including those undergoing major repairs and modernization.

Actually operating equipment is equipment that was in operation, regardless of the duration of its operation during the reporting period.

The level of equipment use by quantity is characterized by coefficients calculated as ratios:

a) installed (or actually operating) equipment to available equipment, that is, this coefficient is used to analyze the dynamics of the use of the existing fleet of equipment listed on the balance sheet, and allows you to find out the amount of uninstalled equipment and outline measures to speed up its commissioning;

b) actually operating equipment to installed equipment, that is, this coefficient characterizes the degree of use of the amount of equipment intended for operation at one enterprise within a certain period.

An example of the calculation is given in table. 5.

Table 5. Equipment usage analysis

Type of equipment	Quantity	Including in workshops:
		production		auxiliary
			from it in groups		from it in groups
			metal-cutting		metal-cutting
1. Available equipment
2. Installed equipment
3. Actually working Odds: page 2 / page 1 page 3 / page 1 page 3 / page 2

The impact on capital productivity of a quantitative change (reduction or increase) of uninstalled and unused (or excess) equipment in the reporting period compared to the base period is determined by comparing capital productivity for the base period based on the base production output:

a) at the cost of fixed assets in the base period;

b) at the base value of fixed assets minus (or addition) the amount of reduction (or increase) of uninstalled and unused (or excess) equipment compared to the base period.

Example 1

The cost of fixed assets in the base period is 15,000 thousand rubles, and the volume of gross output is 30,000 thousand rubles. In the reporting period, uninstalled and unused equipment decreased by 1,000 thousand rubles. The change in capital productivity will be:

a) given the cost of fixed assets and the volume of gross output in the base period, capital productivity is equal to: 30,000 / 15,000 = 2 rubles;

b) with the base volume of gross output and the base value of fixed assets, taking into account their reduction by 1000 thousand rubles. capital productivity is equal to: 30,000 / (15,000 - 1000) = 2.14 rubles.

The increase in capital productivity as a result of the reduction of uninstalled and unused equipment will be: 2.14 - 2 = 0.14 rubles, or 14 kopecks. from every ruble of the value of fixed assets.

Shift Rate Analysis

Shift coefficient (K cm) is an indicator characterizing the use of the equipment fleet in terms of quantity and time. It reflects the time of whole-shift use of a unit of installed equipment and is defined as the ratio of worked machine shifts (P 1, P 2, P 3) to the amount of installed equipment (P set):

K cm = (P 1 + P 2 + P 3) / P set.

Example 2

The enterprise has 300 pieces of equipment installed, 200 machines worked on the first shift, 150 on the second, and 100 machines on the third. The shift coefficient (K cm) is equal to: (200 + 150 + 100) / 300 = 1.5 shifts.

The change in capital productivity due to a change in the shift ratio (ΔФ cm) in the reporting period compared to the base period is determined by the formula:

Example 3

Capital productivity in the base period (Fb) was 5 rubles, the shift coefficient in the reporting period (K see from) was 1.5; in the base (K see b) period - 1.4. The decrease in capital productivity due to changes in the shift ratio amounted to ≈ 0.36 rubles, or 36 kopecks.

Return back to

The coefficient of renewal of fixed assets is the cost of fixed industrial and production assets newly received by the enterprise during a given period divided by the cost of fixed assets available at the enterprise at the end of this reporting period.

It represents the ratio of the value of new funds introduced during the year to their total value at the end of the year.

K input is equal to fixed assets introduced divided by fixed assets at the end of the year

Kobn = Cost of new / Cost of fixed assets at the end of the year.

Arrival rate

To receipts = cost of received fixed assets / cost of fixed assets at the end of the year.

Be careful when calculating renewal and receipt ratios. The renewal coefficient takes into account the cost of introduced fixed assets, and the receipt coefficient takes into account the cost of received fixed assets.

Some textbooks only take into account the update factor. In these textbooks, the renewal coefficient = the cost of fixed assets received during the year from various sources / Cost of fixed assets at the end of the year.

Attrition rate

The retirement rate of fixed assets is the cost of fixed industrial and production assets that left the enterprise in a given reporting period divided by the cost of fixed industrial and production assets available at the enterprise at the beginning of this reporting period.

It is calculated as the ratio of the value of funds disposed of during the year to the value of funds at the beginning of the year.

The retirement ratio is equal to the fixed assets retired divided by the fixed assets at the beginning of the year.

Growth rate

The growth rate of fixed assets is the amount of growth of fixed industrial and production assets divided by the value of fixed industrial and production assets at the beginning of the period.

The numerator of this formula is determined as the difference between the value of fixed assets received and disposed of during the reporting period.

Update Rate Factor

Kint = V/P
B - the cost of disposed fixed assets during the year in all areas of disposal
P - the cost of fixed assets received during the year from various sources

Elimination rate

It is calculated as the ratio of liquidated fixed assets for the year to the value of fixed assets at the beginning of the year.

To be liquidated = Fixed assets liquidated / Fixed assets at the beginning of the year

Replacement rate

Replacement = cost of liquidated fixed assets / cost of new fixed assets received

The coefficient is equal to the ratio of the value of retired fixed assets to the value of fixed assets at the beginning of the period. The initial data for the calculation is the balance sheet.

Fixed Asset Retirement Rate calculated in the FinEkAnalysis program in the block Analysis of the state of fixed assets and their reproduction as the Fixed Asset Retirement Ratio.

Fixed asset retirement ratio - what it shows

Fixed Asset Retirement Rate shows what share of fixed assets on the balance sheet at the beginning of the reporting period was disposed of during the reporting period due to disrepair and wear.

Fixed asset retirement ratio - formula

General formula for calculating the coefficient:

Calculation formula based on the old balance sheet data:

Fixed asset retirement ratio - value

It is advisable to consider the retirement rate of fixed assets with the renewal rate of fixed assets.

If the retirement rate is less than the renewal rate, then the enterprise has expanded reproduction of fixed assets; if more - narrowed reproduction of fixed assets. The higher the retirement rate of fixed assets, the shorter the service life of elements of fixed assets and vice versa.

During periods of economic stagnation and a slowdown in the pace of innovation, the rate of disposal of fixed assets decreases, and during periods of economic growth and increased innovation activity, it increases.

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One of the most important factors in increasing the volume of production at enterprises is the provision of their fixed assets in the required quantity and range and their effective use.

Data on the availability, condition and movement of fixed assets serve as the main source of information for assessing the production potential of an enterprise.

The presence and movement of fixed assets in accounting are shown monthly.

This analysis usually begins with an assessment of the volume of fixed assets, their dynamics and structure (Table 10).

Analyzing the structure of fixed assets of JSC Inprom, it is clear that the enterprise is dominated by the passive part of fixed assets - buildings, the share of which is about 50%., but in 2011 their share decreased by 3.6%. But the share of the active part - machinery and equipment - begins to grow in the reporting year and amounts to about 40% of fixed assets. The company has a developed production and warehouse infrastructure and is equipped with powerful crane and lifting equipment.

In 2011, the amount of fixed assets increased by 10,265 thousand rubles compared to 2010, mainly due to the purchase of machinery and equipment for 9,656 thousand rubles, but compared to 2009 it decreased due to the sale of buildings and structures.

Table 10. - Analysis of the structure of fixed assets

Groups of fixed assets		Changes from 2011 to 2009
Amount, thousand rubles	Amount, thousand rubles	Amount, thousand rubles	Amount, thousand rubles	Ud. weight, p.p.

Facilities
Machinery and equipment
Vehicles
Prod. and household inventory

Analysis of the movement and technical condition of fixed assets is of great importance. Analysis of the movement of fixed assets is carried out on the basis of the following indicators - coefficients of receipt (input) of fixed assets; updates; disposals; extensions. To characterize the technical condition of fixed assets, serviceability coefficients are calculated; wear; replacements:

1. Receipt (input) coefficient of KVV:

2. Renewal coefficient (Kob), characterizing the intensity of the process of updating the fixed assets fleet:

3. Attrition rate ( To select ) , characterizing the intensity of the process of decommissioning unnecessary and obsolete (morally and/or physically) fixed assets.

4. The coefficient of replacement of fixed assets (Kzam) characterizes the share of introduced fixed assets used to replace retired ones.

5. The expansion coefficient of fixed assets (Krash) will be:

To extend = 1 - To close (6)

where K deputy is the replacement rate.

The following two indicators directly characterize the technical condition of the enterprise’s fixed assets:

6. Wear coefficient (Kizn):

7. Usability factor (Kgodn):

To analyze the movement of fixed assets, we calculate the above indicators (Table 11).

Table 11. - Indicators of movement and condition of fixed assets

Indicators				Changes 2011/2009
Cost of fixed assets at the beginning of the year, thousand rubles.
Received for the year, thousand rubles.
Disposal for the year, thousand rubles.
Cost of fixed assets at the end of the year, thousand rubles.
Total amount of depreciation of fixed assets, thousand rubles:
at the beginning of the year
at the end of the year
Annual increase (+), decrease (-), thousand rubles.
Receipt rate, %
Growth rate, %
Renewal rate, %
Attrition rate, %
Renewal period, years
Fixed asset replacement rate, %
Expansion ratio of fixed assets, %
Wear rate, %:
at the beginning of the year
at the end of the year
Usability factor, %:
at the beginning of the year
at the end of the year

Based on the calculated indicators, the following conclusions can be drawn:

At JSC Inprom, it is observed that the cost of fixed assets in the reporting period decreased by 17,810 thousand rubles, compared to 2009.

The increase in the amount of depreciation of fixed assets in 2011 compared to 2009 is due to the acquisition of new facilities for 9798 thousand rubles.

The value of the receipt ratio in 2011 compared to previous periods increased to 0.05%, which is 0.04% more than in 2009.

Comparison of the values of renewal and disposal coefficients allows you to evaluate the results of the process of movement of fixed assets. It turns out that the retirement coefficient, which in 2011 was 0.003, is less than the renewal coefficient of 0.051, which means that the volume of fixed assets is increasing over time.

The commissioning of new facilities, as a rule, more progressive and productive, and the timely decommissioning of morally and / or physically obsolete ones, contribute to an increase in the technical level of production, indicate an improvement in the quality level of the fixed assets fleet and are factors in increasing the efficiency of use of fixed assets. Accordingly, high values and growth in the dynamics of renewal and retirement rates are welcome.

The serviceability coefficient was 0.96%, and the wear rate was 0.06%; they complement each other up to one and characterize by what percentage the fixed assets of the enterprise as a whole are serviceable and, accordingly, worn out. The higher the serviceability coefficient and the lower the wear coefficient, the better.

The source of initial information for calculating indicators is financial statements. To calculate renewal rates, primary analytical accounting data on the receipt of new equipment and the disposal of worn-out equipment is required (Appendix 9).

The efficiency of use of fixed assets of JSC Inprom is characterized by a system of general indicators that reflect the level of use of the entire set of fixed assets of the enterprise and its divisions.

These indicators include:

return on assets;

Capital intensity;

Fund return;

Capital-labor ratio.

The capital productivity indicator (CR) shows how many products the enterprise receives from each ruble invested in fixed assets:

FO = TP / OPF, (9)

where TP is the cost of manufactured products, works, services in prices of the manufacturer;

OPF - average cost of fixed assets.

Capital intensity of production (FE) is the inverse indicator of capital productivity, reflecting the cost of fixed production assets per ruble of the cost of manufactured products:

FE = OPF / TP. (10)

Low values of capital intensity of products and high values of capital profitability and capital productivity indicate a high level of efficiency in the use of fixed assets.

The indicator return on assets (R opf) reflects the amount of profit per 1 ruble of the cost of fixed assets:

R opf = PR / OPF, (11)

where PR is the profit received by the enterprise from the sale of products.

The capital-labor ratio (F-labor) characterizes the degree to which each worker is equipped with basic production assets:

Fvoor = Fosn / N, (12)

where N is the average number of employees at the enterprise in the period under review.

The use of fixed assets is considered effective if the relative increase in the physical volume of production or profit exceeds the relative increase in the value of fixed assets for the analyzed period.

The above listed efficiency indicators at JSC Inprom are calculated as follows (Table 12).

Table 12. - Analysis of the efficiency of use of fixed assets

Indicators				Changes 2009 to 2011

Profit (loss) from sales, thousand rubles.
Revenue from product sales, thousand rubles.
Fixed production assets, thousand rubles.
Gross profit, thousand rubles.
Average headcount, people.
Capital productivity, rub.
Capital-labor ratio, thousand rubles/person.
Capital intensity, rub.
Capital return, %

Analyzing the efficiency of use of fixed assets, we can say that in 2011, compared to 2009, the capital productivity indicator, which shows the efficiency of use of fixed assets, increased by 1.0 ruble, which means an increase in gross output per one ruble of fixed assets.

Consequently, the capital intensity indicator has decreased, since this indicator is the inverse of the capital productivity indicator, that is, in 2011, compared to 2009, to produce one ruble of gross output, 74 kopecks less of fixed production assets will be required. The ratio of the rate of increase in the value of fixed assets and the rate of increase in output allows us to determine the maximum indicator of capital intensity, i.e. increase in fixed assets by 1% increase in production. Since at the Inprom enterprise the capital intensity indicator is 0.59 less than one, this means that there is an increase in the efficiency of use of fixed assets.

Due to the reduction in the number of employees in 2011, the capital-labor ratio increased by 424 thousand rubles per person.

Capital profitability has also increased, now 1 ruble of fixed production assets accounts for 18.6 kopecks of profit.

The production security of fixed assets is assessed both by their total volume and by all structural groups, by comparing the need for fixed assets and their availability. Production needs are assessed according to plans. Availability is determined from internal documents of the enterprise.

The need for fixed assets changes due to changes in production volumes, the level of capital productivity (the ratio of the cost of manufactured or sold products after deducting VAT and excise taxes to the average annual cost of fixed assets.

The level and dynamics of capital productivity in an enterprise are influenced by:

Volume of production in physical terms and product price;

Composition and structure of fixed assets (in particular, age structure, share of the active part of fixed assets);

Productivity, price and other technical and economic indicators of machinery and equipment; level of depreciation of elements of fixed assets;

The share of unused elements of fixed assets; degree of loading of machinery and equipment; coefficients of utilization of production area and production capacity of the enterprise, etc.

Actual capital productivity is compared over several years, and if this indicator is planned, it is compared with the planned value. Then the factors that caused the change in this indicator are identified and their influence is calculated. The influence of factors on the deviation of capital productivity is presented in Table 13.

Table 13. - Influence of factors on the deviation of capital productivity

The total deviation of capital productivity is 0.68 rubles, which means that the growth rate of fixed assets prevails over the growth rate of gross output. The decrease in capital productivity is due to the multidirectional influence of factors: due to the increase in the cost of gross output, capital productivity increased by 1.35 rubles, and due to the increase in the cost of fixed production assets, capital productivity decreased by 2.03 rubles.

Many managers and specialists of enterprises believe that by constantly increasing production output, by reducing conditionally fixed costs, it is possible to reduce its cost. The problem of increasing production output, as a rule, is solved by purchasing new equipment and only to a small extent by searching for internal reserves. Of course, new equipment will increase production volumes, but the expected economic effect will be received mainly by those enterprises whose increase in volumes is caused by the need to meet increased consumer demand for products. For other enterprises, the acquisition of new equipment may lead to an increase in accounts payable, additional investment in the purchase of basic and auxiliary raw materials and materials, an increase in the balance of finished products in warehouses, i.e. to the diversion of funds from circulation.

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