gestiune_2014Oros Simina

7/26/2019 gestiune_2014Oros Simina

1/33

Universitatea din OradeaFacultatea de tiine Economice

Specializare: Contabilitate i informatic de gestiuneForma de nvm!nt: "i

#estiunea financiar a ntreprinderii

$rof coordonator: lect% univ% dr% Emil C&irila asist%univ%dr% 'aureniu (ro)

Student: Oros Simina* an ++* gr ,


2/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789

CUPRINSCapitolul 7% Consideraii #enerale%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%-

7%7 Evoluia cifrei de afaceri* a rezultatului net i%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%-a activelor totale ale societii%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%-

Capitolul ,% 2ealizarea diagnosticului financiar%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%8

,%7 1naliza ratelor de structur ale activului%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%8

,%, 1naliza ratelor de structur ale pasivului%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%

,%- 1naliza ec&ilibrului financiar%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%7-

2.3.1 Situaia neta(SN)%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%7-

b) Fondul de rulment (FR)%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%78

c) Nevoia de fond de rulment (NFR)%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%7;d) Trezoreria net (TN)%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%7;

,%8%1naliza soldurilor intermediare de gestiune%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%7C1F?%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,.

,%< 2atele de indatorare%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,.

,%@ 1naliza ratelor cinetice> de gestiune?%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,,,%= 1naliza rentabilitatii%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,-

2..1.Ratele de rentabilitate economice brute%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,-

2..2.Ratele rentabilitatii economice nete%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,8

2..3.Rata rentabilitatii financiare (Rf)%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,8

,% 1naliza pragului de rentabilitate din eAploatare%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,;

,%7. 101'+"1 2+SCU'U+ (E F1'+5E0/%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,@

2.1!.1 "etoda lui #ltman%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,@

2.1!.2 "etoda $onan%&older%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,


3/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789

Capitolul 1. Consideraii Generale

Evoluia cifrei de afaceri, a rezultatului net i

a activelor totale ale societii

$entru efectuarea diagnosticului financiar se apeleaz la datele contabile carereprezint cuantificarea activitii economice dintrBo firm si anume: bilan* contul de profit i

pierdere* unele note eAplicative* balana de verificare c!t i la informaiile coninute n bilanulfinanciar i n bilanul funcional%

0ecesitatea formulrii unor concluzii pertinente privind situaia ntreprinderii impuneanaliza n dinamic a indicatorilor selectai* motiv pentru care rezultatele financiare alesocietii vor fi urmrite pe parcursul a doi ani succesivi ,.77 i ,.7,%

Societatea comercial 15$'O S%1 a fost nfiinat n anul 77 i are ca principalobiect de activitate fabricarea de instrumente si dispozitive pentru masura* verificare* control*navigatie% (atorit numrului de anga)ai: 7@, in ,.77 si 7-; in ,.7, dar i a valorii cifrei deafaceriactivelor totale societatea este ncadrat n cadrul +0/2E$2i0(E2+'O2 512+%$rincipalii clieni sunt persoane fizice si )uridice%

$rincipalii indicatori financiari ai societii comerciale 15$'O S%1 pentru anii ,.77i ,.7, sunt:

Indicator !"11 !"1! # #$Cifra de %faceri 7,%@=7%=;7 7.%8;%.@, B7=-


4/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789

Capitolul 2. Realizarea diagnosticului

fnanciar

2.1 Analiza ratelor de structur ale activului

&enu'ire indicator!"11 !"1!

# #$valoric procentual valoric Procentual+mobilizri necorporale


5/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789


6/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789

7? Rata activelor i'o(ilizate ;R%I


7/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789

b? 2ata imobilizrilor corporale >2+C? este dependent de natura activitii ntreprinderii i decaracteristicile te&nice ale acesteia%

2+C 7..

total1ctiv

corporalei+mobilizGr

'a societatea analizat* rata imobilizrilor corporale nregistreaz o tendin decrestere usoara a)ungand la ;*88D in ,.7, de la ;=*;D in ,.77* ca urmare a unor investitii %Ialorile nregistrate variaz de la o ramur de activitate la alta% 4n ramurile industriei grele in cele care solicit ec&ipamente importante ca volum* rata nregistreaz valori ridicate* ntimp ce n ramurile cu dotare te&nic slab rata imobilizrilor corporale este relativ redus%

c? 2ata imobilizrilor financiare >2+F? reflect politica de investiii financiare a firmei*precum i legturile financiare stabilite cu ntreprinderile la care deine participaii la capitalulsocial%

2+F 7..

total1ctiv

financiarei+mobilizGr

0ivelul acestei rate este str!ns legat de mrimea firmei i de politica sa financiar*av!nd valori ridicate n cazul &oldingurilor% 'a societatea analizat* rata imobilizrilorfinanciare nregistreaz o tendin de . D n perioada ,.77B,.7,* dat fiind faptul casocietattea nu detine imobilizari financiare%


8/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789

2%6E4E534U7I% R%2E43R &E S2RUC2UR% % %C2I5E43R CIRCU4%N2E

Nr.

Crt

Indicator Simbol Perioada analizat

2!11 2!12

7 2ata activelor circulante 2 1C1c1tA7.. 8.*@;D -*=D

, 2ata stocurilor 2 S/St1t A7..


9/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789

2St 7..

total1ctiv

Stocuri

2ata stocurilor este influenat de natura activitii ntreprinderii i de durata cicluluide eAploatare* nregistr!nd valori mai ridicate la ntreprinderile din sfera produciei i

distribuiei de mrfuri i valori sczute n sfera serviciilor% +nterpretarea evoluiei n timp astocurilor necesit corelarea acestora cu cifra de afaceri% 'a societatea analizat* ratastocurilor nregistreaz valori reduse de 2Cr? reflect politica financiar a ntreprinderii i esteinfluenat de natura clienilor i de termenele de plat acordate partenerilor de afaceri%

2Cr 7..

total1ctiv

Creante

2ata creanelor nregistreaz valori nesemnificative la ntreprinderile aflate n contactdirect cu o clientel care realizeaz plata n numerar >comerul cu amnuntul* prestrile de

servicii ctre populaie? i valori mai ridicate n cazul decontrilor fr numerar%1naliza structurii creanelor trebuie aprofundat av!nduBse n vedere:

J natura creanelor >din ciclul de eAploatare* din afara eAploatrii?J certitudinea realizrii lor >certe sau incerte?HJ termenul de realizare >creane sub -.*


10/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789

&enu'ireindicator

!"11 !"1!# #$5aloric Procentual valoric Procentual

Capital social


11/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789

2SF 7.. total$asiv

permanentCapital

$reponderena capitalului permanent n resursele financiare confer un grad ridicat desiguran prin stabilitate n finanare% Ialoarea minim acceptabil a ratei pentru o firm

industrial este de ;.D* iar o valoare normal oscileaz n )urul a


12/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789

-< Rata autono'iei financiare la ter'en ;R%=2lo(al ;RIG


13/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789

)< Rata de ?ndatorare la ter'enreflect proporia n care datoriile pe termen mediui lung particip la formarea capitalurilor permanente* valoarea ratei fiind considerat normaldac este mai mic dec!t ;. D%

24/ 7..permanentCapitale$rovizioanlungsimediutermenpe(atorii

+

+n perioada analizat rata de ndatorare la termen este . pentru ca firma nu are datoriipe termen mediu si lung si nici provizioane%

!.- %N%4I:% EC@I4I6RU4UI =IN%NCI%R

!.-.1 Situaia neta;SN


14/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789

S01/B(/S0 1ctiv /otal J (atorii /otale

1ctiv /otal 1ctive +mobilizate L 1ctive Circulante L C&% n avans

(atorii totale (atorii pe termen scurt L(atorii pe termen mediu si lung LIenituri in avans L$rovizioane

1/.7,%,.8%


15/33

-.

#ES/+U0E1 F+010C+123 1 40/2E$2+0(E2++ O2OS S+5+01 6,.789

F27 7%,@%;7. B 7,%787%-7@ @%7-=%7-NF2 @%7-=%7- B @%.8-%-@- 8%=,.

Fondul de rulment reflect realizarea ec&ilibrului financiar pe termen lungH adic* seurmre te dac societatea dispune de o mar) de securitate* care s o prote)eze de anumiteevenimente neprevzute%

Fondul de rulment pozitiv reflecta realizarea ec&ilibrului financiar al societ ii petermen lung* adic societatea dispune de o mar) de securitate* care o prote)eaz de

poten ialele evenimente neprevzute% Se respect principiul de gestiune financiar: la nevoipermanente se aloc surse permanente%

Fondul de rulment negativ reflect dezec&ilibrul financiar al societ ii pe termen lung*adic societatea nu dispune de o mar) de securitate* care s o prote)eze de poten ialeleevenimente neprevzute% 0u se respect principiul de gestiune financiar: la nevoi

permanente se aloc surse permanente%

+n perioada analizat* fondul de rulment este pozitiv aspect favorabil %Se manifest otendin de crestere* aspect favorabil pentru societate%

=ondul de rul'ent se ?'parte inA

=ond de rul'ent propriu ;=RP

gestiune_2014Oros Simina

Documents