Analysis of pharmacies financial condition analysis of financial stability financial stability of the enterprise icon

Analysis of pharmacies financial condition analysis of financial stability financial stability of the enterprise




НазваAnalysis of pharmacies financial condition analysis of financial stability financial stability of the enterprise
Дата18.06.2013
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Analysis of pharmacies financial condition

ANALYSIS OF FINANCIAL STABILITY

Financial stability of the enterprise - providing of its supplies and expenses by the sources of their formation. It is the state of financial resources, their distribution and use, which provides the enterprises development based on profit and capital increase while the solvency preservation in the conditions of permissible level of risk.

To determine the financial stability the company calculates a number of coefficients:

  • 1. Coefficient of solvency (autonomy) > 0,5

  • 2. Coefficient of financial risk < 1

  • 3. Coefficient of provision with its own circulating assets > 0.1

Coefficient of solvency (autonomy) shows the part of own capital in the total amount of funds advanced in its activity.

K = Own capital / Total Assets

The minimum value is 0.5 indicates the degree of enterprise dependence from additional sources (except the own capital).

Coefficient of financial dependence is a coefficient which is reverse to coefficient of autonomy. The critical value of coefficient of financial dependence - 2. The coefficient increase in the dynamics means the increase of borrowed funds in the company financing and loss of financial independence.

^ K = Total assets / Own capital

Coefficient of financing (financial risk) characterizes the company dependence of borrowed means.

K = Borrowed means / Own means

Standard value should be less than 1 and it must decrease during the analyzing period. The increase of this coefficient in the dynamics shows the increasing of enterprise dependence from external investors and creditors.

The optimum value of the coefficient <0,5. The critical value - 1.

Coefficient of providing by own circulating assets is calculated as the ratio of net circulating capital to the value of circulating assets.

K = Net circulating capital / circulating assets

  • Analysis of solvency and liquidity of pharmacies

  • Solvency - the ability of company to liquidate its obligations in time and completely.

  • Liquidity of balance - the degree of company liabilities covering by its assets. Liquidity is expressed in possibility of using the reserves (assets) to pay at the appropriate time of its obligations (liabilities) and unforeseen debts.

Depending on the rate of conversion into cash assets are divided into 4 groups:

  • A1 - the most liquid (cash, financial investments)

  • A2 - quickly sold (debtor debts and other assets)

  • A3 - slowly realized (stocks, long-term financial investments

  • A4 - hard realized (irreversible)/

Liabilities are also divided into 4 groups on the urgency of payment:

  • P1 - the most urgent (creditor debts)

  • P2 - short term

  • P3 - long term

  • P4-permanent

Liquidity is characterized by the following relations:

A1> P1, A2> P2, A3> P3, A4 > P4

  • In analyzing the company's balance following financial coefficients are calculated:

Coverage coefficient (total liquidity) - is a ratio of circulating assets to current obligations. This is the most important indicator of liquidity, it is calculated at the beginning and at the end of the year, which allows to estimate the sufficiency of circulating assets for debt repayments during a year. The value of this coefficient should not be less than 1 and is optimal within the limits 1,5-2,0.

K = Current Assets / Short term obligations

Coefficient of quick ratio (urgent) liquidity - is calculated as a ratio of the most liquid part of circulating assets (cash, short-term financial investments, debtor debts) to current obligations.

K = Cash + Short-term fin. investments + Debtor debts / Current obligations

The value is 0,7-0,8

Coefficient of absolute liquidity - is calculated by division the amount of money and short-term financial investments on the value of short-term obligations. It characterizes the immediate readiness of enterprise to pay its debts.

K = Cash / Short-term obligations

In world practice, the optimal value of this coefficient is taken within the limits 0,2-0,35

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