3-d year student
Senior adviser: Pan’kiv O.E.
EFFICIENCY INDEXES SYSTEM OF THE ECONOMIC - FINANCIAL ENTERPRISE ACTIVITY
The transformation to a market economy requires from enterprises the production efficiency increase, products and services competitiveness based on the scientific and technological progress implementation, effective forms of ménage and production management, overcoming mismanagement, activation of enterprises, initiatives, etc.
The criterion of the productive entrepreneurship efficiency is to achieve the greatest size of output with the certain amount of material and other resources at the particular time. It is possible to consider the reverse variant. Then the question will be relevant to the permanent reduction of resources expenses and time per one unit output in physical and cost expression.
Only direct indexes calculated by the generally recognized method are included in the efficiency indexes system of the economic and financial enterprises activity (EFEA), as a correlation of the result and expenses. The EFEA result is the products and profits. Thereafter, the efficiency EFEA characteristic is dual: by the volume of products (productivity) and by the volume of income (profitability). Thus, the system of indexes also must have two symmetrical component parts (subsystems).
The employees of an enterprise must fulfil not only the production but also social nature objectives (the increase of the qualification and cultural level, etc). So, the efficiency of an enterprise, which is determined relative to the number of its employees, may be considered as the social and economic by the content.
Thus, there are three types of EFEA efficiency by the objective features, namely social, socio-economic, and economic. The efficiency EFEA indexes system consists of two subsystems (productivity and profitability), each of which is the system type formation. It is based on a single effect indicator by which all particular subsystem parameters are calculated (the subsystem of the productivity by the index of products; the subsystem of profitability by the index of income). Both subsystems form a single unit as their indexes, at first, are calculated relative to the same objects, which must be recreated due to the effective enterprise activity, and secondly, are grouped by the same types of efficiency, selected by the same signs (social, socio-economic, economic).
One should calculate not only one but few indexes due to various objective circumstances to determine the particular indexes range of the enterprise productivity and profitability. So, it is necessary to calculate the direct index for each point (the relation of effect to cost), and in the reverse case (the relation of cost to effect).
Furthermore, each of the two subsystems has to be more diversified as the indexes range of the production costs at the enterprise is sufficiently wide: there are costs of capital and current nature in accordance with the objective features of the production. The first costs (the enterprise capital) are made simultaneously to serve many production processes (many fund circulations) and get their expression in the long-used resources; the second costs are formed during the manufacture of products in every production process (serve to exercise one fund circulation) and get an expression in the production cost. The economic efficiency (productivity, profitability) must be calculated in two forms: as "resource" (relatively enterprise capital) and as "costly" (relatively current expenses).
However, both the capital of enterprise, and the current costs are not homogeneous. The capital of enterprise, depending on the features of circulation, is divided into basic and circulating (current assets); the basic is consumed during many fund circulations (accordingly provides many repeated production processes), and the circulating (current assets) is consumed in every cycle (in every production process). The cost of basic used capital passes to the production cost in parts, and the cost of circulating capital exists in every fund circulation. The third component part of the advanced enterprise capital is the fund of wages (payroll), if it is advanced. The resource productivity and the resource profitability should be calculated with the help of four indexes: by three separate (relatively to the basic capital, circulating capital, advanced fund of wages) and by one generalizing (relatively to the total cost of capital nature).
The basic capital costs are reflected in the form of depreciation deductions, the circulating capital in the form of material costs, the fund of wages in the form of spent sums (amounts) and social payments. Thus, the costly productivity and profitability indexes should be also calculated with the help of abovementioned four indicators. Both resource and costly economic efficiency indexes are also calculated in the direct and reverse forms. The structure of the production productivity indexes has a similar form, but it is calculated on the basis of output as an effect index.
The proposed efficiency indexes system of the economic- financial enterprise activity can be applied at any level of the national economy, including the highest one, as the necessary input data is accumulated at each of them in the form of accounting and reporting and provides the comparability of all analytical calculations.
A list of literature:
1. Get’man О.О. Economy of enterprise: [tutorial] / О. О. Get;man , V. М. Shapoval. – К. : Center of educational literature, 2006. – 488 p.
2. Kalyna А. V. Economy of enterprise: [tutorial] / А. V. Каlyna. – К. : МАUP, 2006. – 351 p.
3. Оsipov V. About the systematic approach to the measurement of the economic-financial enterprise activity efficiency. // Economy of Ukraine: scientific journal, edition 12. – К.: «Press of Ukraine», 2011. – P. 96.