Analysis of financial stability

Let's make the analysis of financial stability of the enterprise on the basis of financial coefficients. Financial coefficients represent relative indicators of a financial condition of the enterprise.

Basic data for calculation of financial coefficients are presented in Table 14.

Table 14

Basic data for calculation of the main financial performance of Master Stone LLP for 2010 - 2012.

Indicators	Calculation procedure
1. Non-current assets	Result of the I section of balance
2. Stocks (with the VAT)	P. 210 + p. 220
3. Money and short-term financial investments	P. 250 + p. 260
4. Current assets	Result of the II section of balance
5. Capital and reserves	Result of the III section of balance
6. Long-term obligations	Result of the IV section of balance
7. Short-term obligations	Result of the V section of balance
8. Balance	Balance sheet total

Financial stability of the enterprise coefficients of an autonomy, a ratio of own and borrowed funds, maneuverability characterize, coefficient of security of stocks own sources of formation.

Coefficient of an autonomy (Caut) – one of the most important characteristics of stability of a financial condition of the enterprise, its independence of loan sources of means. The coefficient of an autonomy is defined as the relation of the capital and reserves to a balance sheet total.

Caut = the Result of III the balance / Balance sheet total undressed

Normal minimum value of coefficient of an autonomy is estimated usually at the level of 0,5 i.e.: Caut ≥ 0,5.

Caut 2010 = 96425 thousand tenges / 196325 thousand tenges = 0,49

Caut 2011 = 114110 thousand tenges / 214280 thousand tenges = 0,53

Caut 2012 = 126660 thousand tenges / 229705 thousand tenges = 0,55

Values of coefficient the autonomies corresponding to given restriction, mean that all obligations of the enterprise can be covered at the expense of its own means.

From settlement data follows that the enterprise possesses sufficient degree of financial independence as, value of coefficient of an autonomy is higher than the criteria. The increase in this indicator in 2012 in comparison with results 2011 and 2010 can be the positive moment.

Coefficient of a ratio of borrowed and own funds (C b/o) is the financial characteristic supplementing coefficient of an autonomy, and is defined as private from division of size of obligations of the enterprise into the size of its own means.

C b/o = (A result of the IV section of balance + the Result of the V section of balance) / the Result of the III section of balance

C b/o 2010= (25000 thousand tenges + 74900 thousand tenges) / 96425 thousand tenges = 1,04

C b/o 2011= (25000 thousand tenges + 75170 thousand tenges) / 114110 thousand tenges = 0,88

C b/o 2012= (25000 thousand tenges + 78045 thousand tenges) / 126660 thousand tenges = 0,81

For the end of 2012 reduction of a shoulder of a financial leverage with 0,88 to 0,81 is observed that testifies to decrease in financial dependence on external investors on the end of the studied period.

Coefficient of maneuverability (C ma) – is one more important characteristic of stability of a financial condition of the enterprise. The coefficient of maneuverability is defined as the relation of own current assets of the enterprise to the total value of the capital and reserves.

C ma = (A result of the III section of balance - the Result of the I section of balance) / the Result of the III section of balance

C ma 2010 = (96425 thousand tenges – 70050 thousand tenges) / 96425 thousand tenges = 0,27

C ma 2011 = (114110 thousand tenges – 71080 thousand tenges) / 114110 thousand tenges = 0,38

C ma 2012 = (126660 thousand tenges – 75925 thousand tenges) / 126660 thousand tenges = 0,40

The coefficient of maneuverability shows, what part of own enterprise assets is in the mobile form allowing rather freely to maneuver by these means. High value of coefficient positively characterizes a financial condition of the enterprise. The optimum (recommended) size of coefficient is considered the value equal 0,5 (C ma = 0,5).

As we see, the considered enterprise can't maneuver rather freely part of own means, irrespective of external sources of financing. The positive moment is steady dynamics of growth of this coefficient.

Coefficient of security of stocks own sources of financing (C s). The coefficient is defined as the relation of size of own current assets to the cost of stocks of the enterprise.

C s = (A result of the III section of balance – the Result of the I section of balance) / P. 210

C s 2010 = (96425 thousand tenges – 70050 thousand tenges) / 118575 thousand tenges = 0,22

C s 2011 = (114110 thousand tenges – 71080 thousand tenges) / 135285 thousand tenges = 0,32

C s 2012 = (126660 thousand tenges – 75925 thousand tenges) / 148685 thousand tenges = 0,34

Normal values of coefficient are defined statistically in limits:

C s ≥ 0,6 - 0,8

The received calculated values of coefficients testify to discrepancy of the received values to the criteria.

Table 15.

Coefficients of financial stability of Master Stone LLP for 2010 - 2012.

Indicators	2010.	2011.	2012.	Changes (±)
2011 to 2010.	2012 to 2011.
Autonomy coefficient	0,49	0,53	0,55	0,04	0,02
Coefficient of a ratio of borrowed and own funds	1,04	0,88	0,81	-0,16	-0,06
Maneuverability coefficient	0,27	0,38	0,40	0,10	0,02
Coefficient of security of stocks by own sources	0,22	0,32	0,34	0,10	0,02

Thus, during 2010 - 2012 financial stability of the enterprise increases.

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