The essence of the category of profit is considered, highlights different approaches to determine its content and the main factors that influence it. Profit as an object of management in today's economic conditions is investigated.

• Consideration of Decision Making in Quality Management in Man-Machine Systems

Profit is the main indicator of the activity of a manufacturing enterprise. To obtain a sufficient level of profit, which ensures compliance with the conditions of self-financing, the enterprise must pay sufficient attention to the issues of profit management. The relevance of profit management issues is especially important for Ukrainian enterprises at the present time.

Purpose of the article: To analyze the components of the enterprise profit management system.

Enough attention was paid to the issues of profit management in the works of many scientists. Although some questions require further development.

In the conditions of the former USSR, when determined by the plan Benchmarks and Individual Economic Ratios long time practically did not change, profit was determined as a derived indicator from other planned values. Today, in a market economy, there has been a significant increase in profits both in general and in most types of economic activity. There is a significant increase in profits in construction, financial activities, real estate transactions, etc.

The profit management system allows you to solve the security:

• maximizing the amount of profit, which is formed in accordance with the resource potential of the enterprise;
• proportionality between the level of income and the level of risk;
• the quality of the profit that is formed;
• payment of the required level of return on invested capital;
• formation of the appropriate amount of financial resources;
• effectiveness of personnel participation in terms of profit.

In the profit management system of an enterprise, its planning is the most critical stage. Effective planning implies the need to comply with the following basic principles:

• planning must be flexible and adaptable;
• planning should be done first of all by those who will then implement the plans developed.

At the same time, as the experience of developed countries shows, it is detailed planning that ensures the success of enterprises in the market. Consequently, the profit of the enterprise is one of the main economic categories and is the object of management. Today, changes are taking place that affect approaches to enterprise management. These changes reflect the new role of profit in the operation of the enterprise. To successfully manage the profit of an enterprise, it is necessary to improve existing management tools.

There are five main principles underlying profit management:

• Integration with the control system;
• The complex nature of the solution of the tasks;
• High control dynamism. Constant changes in the conditions of external and internal environment, require the ability of the profit management system to quickly adapt to these changes;
• Variability of approaches to the development of management decisions;
• Formation of profit management goals. It should be carried out taking into account the priorities of the development of economic activity.

For successful profit management, it is necessary to form an effective system for managing the profit of an enterprise, which is considered as the essence of interrelated elements. This system has a certain structure, in which six main blocks are distinguished: a control mechanism; purpose, principles and tasks of management; organizational support; Information Support; control over the implementation of the profit plan; profit analysis methods. Let us briefly analyze the components of this system.

Based on the goal, in the process of profit management it is necessary to solve the following tasks:

• profit volume optimization;
• achievement of correspondence between the volume of generated profit and the level of risk;
• security High Quality generated profit;
• formation of the volume of financial resources;
• development of programs for the participation of personnel in the profits of the enterprise, allowing to bring together the interests of owners and employees.

Recently, the organizational profit management of an enterprise is based on the formation of more efficient individual divisions of the enterprise - responsibility centers. The starting point for creating a profit management system based on the allocation of responsibility centers is the personification of responsibility for making decisions. For each of the responsibility centers, goals are defined, plans are drawn up, results are recorded, and the work of directors and employees is evaluated.

In the economic literature, additional centers of responsibility are also distinguished. For example, an additional revenue center is allocated. Revenue center - a responsibility center whose manager controls the center's revenues.

The profit management system can also function only if the relevant information data is available, on the basis of which it is possible, firstly, to establish constant monitoring of the profit formation process, secondly, to assess the level of operating and total profit, and thirdly, to analyze the factors influencing the volume of profit. This information should cover the assessment of the state of the external environment of the enterprise and its influence (according to the totality of external factors) on the level of profit, and on the other hand, the influence of internal factors of the enterprise, and on the third, the level of profit of the enterprise. Such information is needed to form decisions about changes in operational or strategic activities, ensuring compliance with the required level of profit.

In process information support managing the profit of an enterprise, it is necessary to solve the following tasks: the formation of a system of indicators that quantitatively reflect the process of profit formation; formation of a system of factors of the external and internal environment; selection or calculation of normative indicators characterizing the processes of profit formation; collection and transmission for further analytical processing of accounting, operational, statistical and management accounting data; assessment of the qualitative characteristics of the information received; information of the processed information in the database; analytical processing of information and assessment of the influence of factors on the volume and composition of profits, the choice of the most important ones for accounting in the process of forming a management decision; collecting additional information.

To analyze the influence of external factors on the volume of profits of a particular enterprise, one should use data from management and marketing analysis, information from specialized consulting firms, statistical data on regions, the country as a whole, selective statistical and analytical studies on industries and groups of enterprises that are conducted by state statistics bodies.

As for the profit distribution management policy, it should reflect the basic requirements of the overall development strategy, ensure an increase in its market price, create the necessary volumes of investment resources, and ensure the financial interests of owners and employees.

Findings. The analysis of the elements of the profit management system, which will ensure the fulfillment of the strategic tasks of the enterprise, is carried out. Prospects for further scientific research - the formation of effective approaches to managing the profit of an enterprise in order to maximize it, the use of which will provide ways to increase the profitability of production and investment attractiveness of the enterprise, strengthening competitiveness require the use of new approaches and scientific developments.

Bibliography

1. Belonvu F.Ch. Development of innovations in enterprise profit management // Proceedings of the International Scientific and Practical Conference. - 2015. - S. 305-308.
2. Ezhkov I.A., Stepanova M.N. Management of income and profit at the enterprise // Modern business space: current problems and prospects. - 2015. - No. 1 (4). - S. 173-175.
3. Orekhov G.S., Malyutina E.A. Methods of profit management as the main goal of financial management of an enterprise // Economics and Society. - 2015. - No. 2-5. - S. 859-862.
4. Ostankova S.O. Systematic approach to profit management at the enterprise // Ekonominfo. - 2014. - No. 21. - S. 53-55.
5. Sadrislamova A.R. Profit management in the system of anti-crisis management of an enterprise // Economics and Society. - 2015. - No. 2-4. - S. 137-139.

The purpose of any business is to make a profit. Profit maximization is one of the main tasks of a financial manager, who, for his solution, requires optimal solutions in the field of capital investments, management of the structure and cost of capital, income and expenses, fixed and working capital. Stable profit growth is the result effective management the finances of the business entity as a whole. Therefore, profit management can be considered both in a broad and narrow sense. Profit is the main goal of commercial enterprises. It most fully reflects the financial result of entrepreneurial activity, provides financing for expanded production, social and economic development of the enterprise, is a source of material incentives for employees and the basis for calculating indicators of the investment attractiveness of the enterprise. Profit is a source of formation of state budget revenues and, in this capacity, coordinates the interests of the state and business structures.

Profit management in the narrow sense is to increase the income of the enterprise; cost reduction; formation and implementation of an effective tax policy; optimal distribution of profits.

An increase in the company's income is possible due to the expansion of sales markets for products and the development of the production of new types of products. At the same time, an increase in income due to an increase in the selling price of products is possible only with the development of new types of products that are in high demand among consumers. With an increase in sales volumes, as a rule, the selling price decreases, and the company receives benefits mainly due to an increase in the total volume of sales proceeds.

The growth of the enterprise's income is primarily ensured by an effective marketing policy and the development of new promising types of products that the consumer expects. These areas of activity are not directly areas financial management. However, both marketing research and scientific and technical development require significant costs, so the financial managers of the enterprise must find the optimal ratio between the amount of such expenses and the possible benefits as a result of increasing income, improving the competitive position of the enterprise in the market, increasing its economic potential and financial stability. To do this, it is necessary to develop strategies for expanding production, develop new promising areas of activity and draw up business plans in accordance with these strategies.

Cost reduction lies primarily in cost analysis. The composition and structure of operating expenses, in particular, production costs, administrative expenses, distribution costs, the main components of production costs, as well as operating expenses, are subject to analysis. As a result of the analysis, reserves for reducing material costs, labor costs for workers directly employed in production and employees of the management apparatus are identified.

Before the analysis, it is preliminary clarified which costs are largely determined by the financial policy of the enterprise, and which mainly depend on external factors. The nature of production is also taken into account, that is, it is material-intensive or labor-intensive. Focusing on the most significant cost components and those that are mainly determined by internal factors, the financial managers of the enterprise identify ways to reduce costs that do not lead to negative consequences, for example, a decrease in labor productivity, an increase in business risks in general and risks in the operating cycle, in in particular, the decline in product quality and so on.

The formation and implementation of an effective tax policy helps to reduce tax pressure, reduce the volume of tax payments, and therefore increase the amount of financial resources remaining at the disposal of the enterprise and can be used for its further development. Since income tax, on the one hand, is one of the main taxes paid by the enterprise, and on the other hand, the most regulated by the enterprise, tax management consists mainly in the formation effective policy regarding the payment of income tax.

The tax policy of an enterprise is a set of measures aimed at reducing the object of taxation and the formation of a cash flow of tax payments that is most favorable for the enterprise. Since income tax is calculated in relation to profit, depends on the costs and the amount of depreciation for the reporting period, it is important to analyze the composition and structure of all costs of the enterprise. An enterprise can, within certain limits, regulate not only the amount of tax payments, but also their sequence in time. Yes, certain expenses can be made earlier or later, income received with a delay in time or in advance, which adjusts the amount of income tax in the corresponding period upward or downward.

Such management decisions do not change the total amount of income tax, but affect the amount of individual tax payments, which allows more efficient management of the company's cash.

Of great importance in the process of tax management are also tax incentives that an enterprise can count on and can receive in accordance with applicable law.

To effectively manage taxes, financial managers need to have a good knowledge of tax and management accounting, as well as legislative and regulatory frameworks.

In the process of profit management, not only the maximization of profit remaining at the disposal of the enterprise, but also its optimal distribution and use is of great importance. An enterprise that receives a stable profit must ensure sustainable economic growth at its expense. An enterprise that cannot grow through profits. Its economic potential, inefficiently manages the processes of distribution and use of profits, and therefore, inefficiently manages profits in general.

In what proportions and for what purposes the profit will be used, determines the financial policy of the enterprise. Part of the profit that remains at the disposal of the enterprise after paying taxes can be used to pay dividends to owner-shareholders and for other purposes not related to its financial and economic activities, for example, voluntary contributions to charitable funds, non-repayable financial assistance to other economic entities and the like. This part of the profit does not increase the financial resources of the enterprise and cannot be used for its economic growth. In the conditions of a developed market economy, the payment of dividends in a certain amount is a necessary element of the financial policy of the enterprise, which ensures a stable interest in it from shareholders and potential investors and helps to maintain the competitive position of the enterprise at the proper level. In a transitional economy and an imperfect legal framework, an enterprise, depending on its market position and needs for financial resources, can vary the amount of dividend payments quite widely without fear of an outflow of shareholders.

Part of the profit remaining after the payment of dividends and use for other purposes increases the financial resources of the enterprise, and consequently, its economic potential. Profit is partially used to increase the reserve (if its size has not reached a certain level) and authorized capital, and may also remain undistributed. In any case, the funds left at the disposal of the enterprise are invested in current or non-current assets, which the enterprise uses in the future in the process of financial and economic activities in order to make a profit.

It should also be noted that profit occupies one of the central places in the general system of cost tools for managing the economy, since all of them are directly or indirectly related to profit. This also applies to credit, prices, costs and other economic levers. Given these circumstances, profit is one of the main objects of financial management. Therefore, it is important to determine the types of profit and their classification.

By type of activity profit can be from operating activities, from investment activities, from financial activities.

By source of education: from the sale of products, from the sale of assets; from non-operating transactions.

In composition: from ordinary activities, gross (marginal), operating, extraordinary, net profit.

By directions of use: for transfer to the budget; for consumption; capitalized unallocated.

The main part of the profit the company receives from the operating (main) activities. Not every company is engaged in financial and investment operations. But if they are carried out in enterprise activities, thus expanding the range of sources of income generation.

Profit from ordinary activities before tax - This total amount profit received by the enterprise from all types of activities (operating, investment, financial).

Marginal (gross profit) is defined as the difference between the net proceeds from the sale of products and the cost of these products (variable costs).

fabulous profit - this is the difference between income and expenses as a result of extraordinary events (natural disasters, fires, man-made accidents, etc.).

Net profit is the amount that remained at the disposal of the enterprise after paying taxes, extraordinary losses and is subject to redistribution according to the directions of use.

Profit management is complex multilevel system transactions, which includes at least three subsystems: formation, distribution, use. Each of these subsystems has its own specific goals, objectives, tools to achieve them.

At the same time, each of these subsystems is influenced by others. For example, the volume of profit generated at the first stage determines the direction of its distribution. The greater the profit of the enterprise, the more tasks of the economic, technical, social plan it can solve by distributing funds for certain areas of use. At the same time, the efficiency of use affects future opportunities to increase profits at the stage of its formation.

In general profit is defined as the difference between the amount of income and the cost of production and sales of products, taking into account losses from various business operations.

Thus, profit is formed as a result of the interaction of many components. The main objectives of profit management are:

identification of reserves for increasing profits through production activities, investment and financial transactions;

identification of reserves for increasing profits by optimizing fixed and variable costs, substantiating the accounting policy of the enterprise, pricing policy, tax policy;

assessment of the profitability of production and commercial activities;

definition of entrepreneurial risk;

strengthening the competitive position of the enterprise by increasing the efficiency of distribution and use of profits. The amount of profit is influenced by a combination of many factors that must be taken into account in the management process. These factors can be divided into two large groups: external, which do not depend on the enterprise, and internal, which the enterprise can influence.

external factors Let's attribute natural conditions, transport conditions, market infrastructure, market conditions, prices for production resources, competition in the goods market, inflation rate, which do not depend on entrepreneurial activity, but should be taken into account when justifying management decisions. To internal factors - sales volumes, product structure, cost price, prices and product quality.

External factors, as a rule, do not depend on entrepreneurial activity. The financial manager should take them into account when justifying managerial decisions. These include factors related to the general economic situation, the level of inflation, the specifics of individual commodity markets, the influence of natural, geographical, transport and technical conditions on the production and sale of products.

Internal factors are a direct object of influence from the management system of the enterprise and a source of increasing profits due to their implementation in the system of specific measures and practical implementation.

Introduction. 2

1. Theoretical aspects of the concept of profit. 4

1.1 Essence and concept of profit. 4

1.2. Profit management methods. nine

1.3. Ways and tools of enterprise profit management. thirteen

1.4. Types and methods of enterprise profit analysis. eighteen

1.5. Distribution of profits of the enterprise. 26

1.6. Profit planning methods. 28

2. Profit management on the example of DUET LLC 33

2.1. Analysis of Profit Distribution Practices 33

2.2. Factor analysis of the profitability of Duet LLC 37

2.3. Proposals for optimizing the process of generating profits Duet LLC 40

Conclusion. 45

References 46

Introduction.

In the conditions of the modern market economic system in Russia, on this stage there is a significant change in relation to the indicator of profit in favor of increasing its role in the economic mechanism, since making a profit, which ensures the prosperity of the company and the growth of its influence in the market, is considered one of the main indicators of the successful implementation by the leaders of commercial structures of their coordinating functions. Thus, profit is one of the most important categories of a market economy and the main goal of any commercial structure, as it reflects the net income created in the sphere of material production.

Profit is not only a source of ensuring the intra-economic needs of enterprises, but is becoming increasingly important in the formation of budgetary resources, extra-budgetary and charitable funds.

Profit as the end result of the enterprise's activities is the difference between the total amount of income and costs for the production and sale of products, taking into account losses from various business operations.

Profit management allows you to identify the main factors of its growth and the potential of the enterprise.

Profit is one of the most complex economic categories. Having studied the sources of profit, it is possible to develop a scientific approach to solving many problems, increase the efficiency and responsibility of the workforce, achieve final results at the lowest cost. At the same time, the strengthening of commercial calculation in all stages of production of each individual enterprise depends to a decisive extent on profit management and the identification of specific reserves for the growth of profits of each individual business entity.

The object of the study is Duet LLC. The subject of the study is the profit of the company. The information base for the study is the accounting and reporting data of the company.

The purpose of the course work is to analyze the financial results of the enterprise and develop on this basis proposals for increasing, stabilizing or optimizing profits.

1. Theoretical aspects of the concept of profit.

1.1 Essence and concept of profit.

Representing the final financial result, profit is the main indicator in the system of current goals of the enterprise. Profit is a conditional term meaning a certain income from an operation that required an initially certain investment and / or expense, and manifested in an increase in the total economic potential of the investor upon completion (actual or conditional) of this operation [, p. 372].

The obvious significance of the profit indicator is manifested in the fact that this concept is introduced into a number of legislative acts that are key to doing business. So, in Art. 42 of the Federal Law "On Joint Stock Companies" refers to the possibility of paying dividends by the company from net profit; in Art. 64 of the Federal Law "On Insolvency (Bankruptcy)" mentions that "the debtor's management bodies are not entitled to make decisions on the payment of dividends or the distribution of the debtor's profits between its founders (participants)". The term “profit” (with some clarifications, for example, “net”, “margin”, “remaining at the disposal of the enterprise”, etc.) is also used in lower-level regulations (for example, in accounting regulations). As for the monographic and educational literature, this category is represented exceptionally widely in it [, p. 473].

Making a profit is an indispensable condition and goal of entrepreneurship of any economic structure. Profit (profitability) evaluates the efficiency of management, profit is the main source of financing for economic and social development; profitability serves as the main criterion for choosing investment projects and programs for optimizing current costs, expenses, and financial investments. [, with. 126]

Thus, profit (and its relative modification - profitability) has acquired the most important, leading role in the new economic and financial mechanism for managing socio-economic development. This is the basis for financial stability and ensuring the income of enterprises, the state, and the population.

Since profit is a source of production, scientific, technical and social development, its absence puts the enterprise in an extremely difficult financial situation, which does not exclude bankruptcy.

The essence of profit is most fully expressed in its functions. In the domestic literature there are discrepancies in the number of functions and their interpretation, but the following are most often distinguished:

In a generalized form, profit reflects the results of entrepreneurial activity and acts as one of the indicators of its effectiveness;

The stimulating function allows you to use profits for the development of production, stimulates the work of employees of the enterprise, ensures social development, etc. In this capacity, it links the interest of the organization and staff, as it stimulates their desire to carry out more efficient business activities in order to get more benefits in the form of profit;

Profit acts as a profitable source for financing public expenditures (public investment, industrial, scientific, technical, socio-cultural programs).

Profit growth creates a financial base for self-financing, expanded reproduction, solving social problems, and meeting the material needs of labor collectives. At the expense of profit, the organization's obligations to the budget, banks and other organizations are fulfilled. Profit indicators characterize the degree of business activity and financial well-being. Profit determines the level of return on advanced funds and the return on investment in assets.

The problem of the economic content, functions and significance of profit is in the field of view of many economists.

According to Marxist theory, profit is a transformed form of surplus value, representing the unpaid surplus labor of a wage worker employed in the sphere of material production.

In neoclassical theory, a different approach is justified: profit is formed depending on the productivity of production factors, each of their owners receives their part of the added value in accordance with the marginal productivity of capital, labor, land: profit, wages, rent.

Numerous studies on the subject of studying the correspondence of profit calculated in accounting to its economic content have led to a distinction between such concepts as "accounting" and "economic" profit.

Accounting profit means profit calculated in accordance with the current accounting rules and indicated in the income statement as the difference between income and expenses recognized in the reporting period. The definitions of accounting profit are based on two main concepts:

maintaining wealth or preserving capital;

efficiency, or accumulation, of capital.

In world practice, the concept of maintaining welfare is recognized as the dominant one, according to which accounting profit is an increase in equity capital (funds invested by owners) during the reporting period and is the result of an improvement in the welfare of the company. This concept is sometimes also referred to as the concept of profit based on changes in assets and liabilities. Sales revenue or other income can only be recognized as a result of an increase in an asset or a decrease in a liability, and, accordingly, an expense cannot be recognized unless it results from a decrease in an asset or an increase in a liability. In other words, profit is an increase in the economic resources at the disposal of the enterprise, and loss is their decrease.

In accordance with the second concept, profit is the difference between the income and expenses of the enterprise and the measure of the effectiveness of the enterprise and its management. Profit is the result of the correct allocation of income and expenses for the respective reporting periods, implying the correlation in this reporting period of "efforts" (ie expenses) and their corresponding "accomplishments" (ie incomes). Deferred income and expenses will be recognized as an asset or liability, regardless of whether such asset or liability represents an actual future inflow or outflow of economic resources. This approach is based on the concept of double entry in accounting, through which a double financial result is revealed: as an increase in equity (statistical balance sheet model) and as the difference between income and expenses (financial balance sheet model).

The indicator of accounting profit is not without drawbacks. The main ones are the following:

due to the assumption of accounting standards of different countries (and sometimes within the same country for different enterprises), the possibility of using different approaches in determining certain incomes and expenses, profit indicators calculated by different enterprises may not be comparable;

the change in the general price level (inflationary component) limits the comparability of data on profits calculated for different reporting periods.

the amount of profit reflected in the financial statements does not allow assessing whether the capital of the enterprise was increased or wasted during the reporting period, since the factor of the opportunity cost of capital is not directly recognized in the financial statements.

From an economic point of view, the capital of an enterprise is multiplied when the benefits received by the enterprise from the use of long-term resources exceed the economic costs of attracting them (whether it be borrowed or shareholders' funds). The converse is also true: if the received economic benefits are less than the estimated value of the "cost of capital", the enterprise is actually wasting capital. This provision is actively used when making investment decisions, including decisions on the acquisition of shares in a particular enterprise. The desire to evaluate the effectiveness of the use of capital has led to active use in foreign practice as an indicator of economic profit.

Economic profit refers to the increase in the economic value of the enterprise. At the same time, the concept of "economic profit" in recent years in Western practice in the context of the development of the securities market has significantly transformed compared to the first half of the 20th century. There are many discrepancies in determining how to calculate such an economic value, but all of them are united by a fundamental difference compared to the accounting interpretation in understanding what value after the reporting period is considered to correspond to the “wealth level” at the beginning of the period.

Economic profit is defined as the difference between the return on capital invested and the weighted average cost of capital, allowing you to compare the return on invested capital with the minimum return required to meet investor expectations. cost of capital.

Economic profit differs from accounting profit in that its calculation takes into account the cost of using all long-term and other interest-bearing liabilities (sources), and not just the cost of paying interest on borrowed funds, taken into account when calculating accounting profit. In other words, accounting profit exceeds economic profit by the amount of implicit (opportunity) costs or costs of rejected opportunities.

1.2. Profit management methods.

Profit management is the process of developing and making managerial decisions on all major aspects of its formation, distribution, use and planning in the enterprise.

Profit management is vital for optimizing investments, innovative investments and strategic planning. It helps in the best way distribute the limited resources of the firm to ensure the greatest efficiency. Thus, profit planning is an element of the profit management system, which can be defined as the process of developing and making managerial decisions on key aspects related to the formation and spending of the organization's net income.

One approach to profit planning is the formation of a profit budget, which is usually prepared on the basis of a formal statement of expected income with corresponding forecasts of changes in current prices, costs and possible demand for the budgeting period. The planned aspect of the profit budget gives managers at all levels the opportunity to indicate the existing need for materials, equipment, labor and sources of financing and to carry out planning based on these data. The coordination aspect is an important component of the preparation and periodic revision of the budget, since the very process of budgeting makes it necessary to coordinate the activities of individual departments of the company. Unlike the coordinating aspect, control is not an automatic consequence of budgeting, but it allows you to establish the compliance of the results of current activities with previously made forecasts, and if there are large discrepancies between the expected and obtained results, you can analyze the reasons for such a discrepancy in order to increase profits.

As a rule, profit budgeting is closely related to the management of companies' operations. The following main methods of control can be noted: drawing up clear descriptions of the procedures and general policies that form the basis of the organization's management system; to provide feedback , most often, periodic adjustments to current plans are used - in this case, the profit budget plays the role of a criterion for assessing the management (or organizational) activities of the organization. As the organization becomes more complex and its structure grows, effective management coordination becomes an increasingly difficult task for management. Very often, companies solve this problem through decentralization, which is a combination of semi-autonomous economic units, each of which represents a profit center. This method of management finds more and more supporters among large transnational corporations. Management structures subordinate to individual corporations or the parent company receive the full right to plan the activities of their units, make any short-term decisions and bear responsibility for them. That is, the management structures act as if their branches are independent firms, although in reality they may not be. The head structure of the corporation retains the development of a long-term policy, especially in the field of capital investments, the selection of heads of structural divisions, the evaluation of their activities, as well as the organization, merger and liquidation of the divisions themselves. In large companies, for more efficient management, as a rule, the principle of moderate decentralization of management operates within the framework of the integrated structure of the development strategy adopted by the parent company. Since it is profit that is the main criterion for the prosperity of an organization, then, usually, top management tends to consider profit making as the main indicator of the success of department heads. But it is often found that the use of profit as a measure of internal control is a more controversial and complex matter than establishing such a criterion for the company as a whole. In a decentralized organization, where management powers are delegated to the heads of departments organized as separate corporations, it becomes necessary to determine a profit indicator that will serve to evaluate the work of the administration of these departments and control its decisions. This indicator was the managed profit of branches - this is the profit remaining from the income received by the unit in question, minus all variable costs of this unit (cost of goods sold, selling and administrative costs) and all overhead costs administered by the heads of this unit. This indicator excludes all factors that the heads of departments cannot control, and it does not depend on the quality of work of those other departments with which the considered department interacts. A feature of large business planning is also the need to take into account the growth of assets (property) of both the company as a whole and the property of divisions, while respecting the rights of all owners. Thus, within the framework of this task, large companies carry out master planning, plan the strategic and tactical goals of the company and divisions, and also plan their potential (opportunity growth), volumes and processes (operational, production, investment and innovation).

Due to the organizational and technological cyclical development, large companies are more susceptible to intra-company economic fluctuations, so the planning system should take into account not only specific cycles, but also the relationship between them and their impact on planned results. With an insufficient level of analytical work (taking into account emerging trends in the impact of internal and external factors) for making planned decisions, in large companies, like in no other, there is the possibility of large material losses, which leads to the need for controlling both formed and implemented planned decisions. Controlling influences planning as a central tool for managing a corporation, especially effective coordination of individual sub-processes and a clear orientation of planning towards achieving profit as the main target indicator for the successful operation of the structure. Therefore, an effective controlling system, as a rule, has as its central element a profit planning or budgeting system, consistent with a well-thought-out process for planning individual actions (for example, investment or innovation activities). The concept of "budget" can be defined as a plan formulated in value terms, which, with a certain degree of obligation, is assigned to a structural unit with the authority to make decisions for a certain time period (usually up to 1 year), and budgeting as a management technology. Budgeting means the orientation of all activities of the organization towards goals that have a value expression, in contrast to this, when planning individual actions, property goals come to the fore. In practice, the boundaries between action planning and budgeting are very blurred, because reasonable planning of cost targets is possible only with simultaneous planning of the relevant necessary measures.

1.3. Ways and tools of enterprise profit management.

Ensuring effective profit management of the enterprise determines a number of requirements for this process, the main of which are [, p. 95]:

1. Integration with the general enterprise management system m. In whatever area of ​​the enterprise's activity a management decision is made, it directly or indirectly affects profits. Profit management is directly related to the production management of personnel, investment management, financial management and some other types of functional management. This determines the need for organic integration of the profit management system with the overall enterprise management system.

2. The complex nature of the formation of management decisions. All management decisions in the field of formation and use of profit are closely interconnected and have a direct or indirect impact on the final results of profit management. In some cases, this impact can be contradictory. So, for example, the implementation of highly profitable financial investments can cause a shortage of financial resources that ensure production activities, and as a result, significantly reduce the amount of operating profit. Therefore, profit management should be considered as a complex system of actions that ensures the development of interdependent management decisions, each of which contributes to the effectiveness of the formation and use of profit for the enterprise as a whole.

3. High control dynamism. Even the most effective management decisions in the field of formation and use of profits, developed and implemented at the enterprise in the previous period, cannot always be reused at subsequent stages of its activity. First of all, this is due to the high dynamics of environmental factors at the stage of transition to a market economy, and, first of all, to the change in the conjuncture of the commodity and financial markets. In addition, the internal conditions for the functioning of an enterprise change over time, especially at the stages of transition to subsequent stages of its life cycle. Therefore, the profit management system should be characterized by high dynamism, taking into account changes in environmental factors, resource potential, forms of organization and management of production, financial condition and other parameters of the enterprise.

4. Multivariance of approaches to the development of individual management decisions. The implementation of this requirement implies that the preparation of each management decision in the field of formation, distribution and use of profits should take into account alternative possibilities of action. If there are alternative projects of management decisions, their choice for implementation should be based on a system of criteria that determine the profit management policy of the enterprise. The system of such criteria is established by the enterprise itself.

5. Focus on the strategic goals of the enterprise development. No matter how profitable these or those projects of management decisions in the current period may seem, they should be rejected if they conflict with the mission (main goal of the activity) of the enterprise, the strategic directions of its development, undermine the economic the basis for the formation of high profits in the coming period.

The main goal of profit management is to ensure the maximization of the welfare of the owners of the enterprise in the current and prospective period. This the main objective It is designed to ensure at the same time the harmonization of the interests of the owners with the interests of the state and the personnel of the enterprise.

Based on this main goal, it is possible to formulate a system of main tasks [, p.126], aimed at realizing the main goal of profit management.

Ensuring the maximization of the size of generated profit, corresponding to the resource potential of the enterprise and market conditions. This task is realized by optimizing the composition of enterprise resources and ensuring their efficient use. The main ones are the maximum possible level of use of the resource potential and the current situation in the commodity and financial markets.

Ensuring optimal proportionality between the level of generated profit and the acceptable level of risk. As already noted, there is a directly proportional relationship between these two indicators. Taking into account the attitude of managers to economic risks, their acceptable level is formed, which determines an aggressive, moderate (compromising) or conservative policy for carrying out certain types of activities or conducting certain business operations. Based on the given level of risk in the management process, the level of profit corresponding to it should be maximized.

Ensuring high quality of formed profit. In the process of forming the profit of an enterprise, the reserves of its growth should be realized first of all through operating activities and real investment, which provide the basis for the long-term development of the enterprise. As part of the operating activities, the main attention should be paid to ensuring profit growth by expanding the volume of output and developing new promising types of it.

Ensuring the payment of the required level of return on invested capital to the owners of the enterprise. This level, with the successful operation of the enterprise, should not be lower than the average rate of return on the capital market, if necessary, compensate for the increased entrepreneurial risk associated with the specifics of the enterprise, as well as inflationary losses.

Ensuring the formation of a sufficient amount of financial resources at the expense of profit in accordance with the objectives of the development of the enterprise in the coming period. Since profit is the main internal source the formation of the financial resources of the enterprise, its size determines the potential for the creation of production development funds, reserve and other special funds that ensure the future development of the enterprise. At the same time, in self-financing the development of an enterprise, profit should play a dominant role.

Ensuring a constant increase in the market value of the enterprise. This task is designed to ensure the maximization of the welfare of owners in the long term. The growth rate of the market value is largely determined by the level of capitalization of the profit received by the enterprise in the reporting period. Based on the conditions and tasks of economic activity, each enterprise itself determines a system of criteria for optimizing the distribution of profits on the capitalized and consumed parts of it.

Ensuring the effectiveness of programs for personnel participation in profits. Programs for the participation of personnel in profits, designed to harmonize the interests of the owners of the enterprise and its employees, should, on the one hand, effectively stimulate the labor contribution of these employees to the formation of profits, and on the other hand, provide a fairly acceptable level of their social protection, which the state in modern conditions will fully ensure unable.

All the considered tasks of profit management are interrelated, although some of them are of a multidirectional nature (for example, maximizing the level of profit while minimizing the level of risk; ensuring a sufficient level of satisfaction of the interests of the owners of the enterprise and its personnel; ensuring a sufficient amount of profit directed to increase in assets and consumption and etc.). Therefore, in the process of profit management, individual tasks must be optimized among themselves.

The functional orientation of profit management objects, according to generally accepted standards, distinguishes their two main types:

Profit generation management;

Management of distribution and use of profit.

The process of enterprise profit management is based on a certain mechanism. The structure of the profit management mechanism includes the following elements:

1. State legal and regulatory regulation of the formation and distribution of enterprise profits. The adoption of laws and other normative acts regulating the formation and distribution of enterprise profits is one of the directions of the state's economic policy. The legislative and regulatory framework of this policy regulates the formation and distribution of profits of enterprises in various forms. The main of these forms include: tax regulation; regulation of the depreciation mechanism for fixed assets and intangible assets, regulation of the amount of deductions of profits to the reserve fund, regulation of the minimum wage and others.

2. Market mechanism for regulating the formation and use of enterprise profits. Demand and supply in the commodity and financial markets form the price level on products, the cost of attracting loans, the profitability of individual securities, the average rate of return on capital, etc. As market relations deepen, the role of the market mechanism for regulating the formation and use of enterprise profits will increase.

3. An internal mechanism for regulating certain aspects of the formation, distribution and use of enterprise profits. The mechanism of such regulation is formed within the framework of the enterprise itself, respectively regulating certain operational management decisions on the formation, distribution and use of profits. So, a number of these aspects can be regulated by the requirements of the company's charter. Some of these aspects are regulated by the targeted profit management policy formed at the enterprise. In addition, the enterprise can develop and approve a system of internal standards and requirements for the formation, distribution and use of profits.

4. The system of specific methods and techniques for the implementation of profit management. In the process of analysis, planning and control of the formation and use of profits, an extensive system of methods is used to achieve the necessary results. The main ones include methods: technical and economic calculations, balance sheet, economic and statistical, economic and mathematical, comparisons and others.

1.4. Types and methods of enterprise profit analysis.

An effective mechanism for managing the profit of an enterprise makes it possible to fully realize its goals and objectives, and contributes to the effective implementation of the functions of this management. An important component of the enterprise profit management mechanism are the systems and methods of its analysis. Profit analysis is a process of studying the conditions and results of its formation and
use in order to identify reserves for further improving the efficiency of its management at the enterprise.

For the purposes of implementation, the analysis of the profit of the enterprise is divided into various forms depending on the following features:

1. According to the objects of study, an analysis of the formation of profit and an analysis of its distribution and use are distinguished.

a) Profit formation analysis is usually carried out in the context of the main areas of activity of the enterprise - operating, investment, financial. It is the main form of analysis in order to identify reserves for increasing the amount and level of profit of the enterprise,

b) Analysis of the distribution and use of profits carried out in the main directions of this use. It is designed to identify the level of profit consumption by the owners and personnel of the enterprise, the general level of its capitalization and specific forms industrial consumption for investment purposes.

2. According to the organization of the conduct, internal and external analysis of profits are distinguished.

a) Internal Profit Analysis is carried out by the managers of the enterprise or its owners using the entire set of available informative indicators (including management accounting data). The results of such an analysis may represent a commercial secret of the enterprise.

b) External Profit Analysis carried out by tax authorities, audit firms, banks, insurance companies in order to study the correctness of its reflection, the level of creditworthiness of the enterprise, etc. The source of information for such an analysis is the data of the financial accounting and reporting of the enterprise.

3. According to the scale of activity, they distinguish the following forms profit analysis:

a) Profit analysis for the enterprise as a whole. In the process of such an analysis, the subject of study is the formation, distribution and use of profits at the enterprise as a whole, without singling out its individual structural divisions.

6) Profit analysis by structural unit (responsibility center). If the structural subdivision (responsibility center) under consideration, by the nature of its activities, does not have a complete profit generation cycle, such an analysis is aimed at generating costs (income). This form of analysis is based mainly on the results of management accounting of the enterprise.

c) Profit analysis for a separate operation. The subject of such an analysis may be profit from individual commercial transactions of the enterprise; individual transactions related to short-term or long-term financial investments; separate completed real projects and other operations.

4. According to the volume of the study, a complete and thematic analysis of profits is distinguished.

a) A complete analysis of profit is carried out in order to study all aspects of its formation, distribution and use in the complex.

b) Thematic analysis of profit is limited to only certain aspects of its formation or use. The subject of the thematic analysis of profit may be the study of the impact of the tax policy pursued by the enterprise on the formation of costs, income and profit; profitability of the formed stock portfolio; the impact of the structure and cost of capital on the level of profitability of the enterprise; the effectiveness of the chosen profit distribution policy; analysis of alternatives for the possible use of profits and a number of other aspects.

5. According to the period of conducting, preliminary, current and subsequent profit analysis is distinguished.

a) A preliminary analysis of profit is associated with the study of the conditions for its formation, distribution or future use; with the terms of implementation
individual commercial transactions, financial and investment transactions with a preliminary calculation of the expected profit on them.

b) The current (or operational) profit analysis is carried out in the process of carrying out the operating, investment and financial activities of the enterprise; implementation of individual business transactions for the purpose of operational impact on the formation or use of profits. As a rule, such profit analysis is limited to a short period of time.

c) Subsequent (or retrospective) analysis of profits is usually carried out by managers and owners of the enterprise for the reporting period (quarter, year). It allows you to more fully analyze the results of the formation and use of enterprise profits in comparison with its preliminary and current analysis, as it is based on the completed results of financial accounting and reporting, supplemented by management accounting data.

To solve specific problems of profit management, a number of special systems and methods of analysis are used, which make it possible to obtain a quantitative assessment of certain aspects of its formation, distribution and use, both in statics and in dynamics.

In the practice of profit management, depending on the methods used, the following main systems for conducting analysis in an enterprise are distinguished: horizontal analysis; vertical analysis; comparative
analysis; risk analysis; ratio analysis; integral analysis; factor analysis.

In large commercial complexes, recommendations are constantly being developed for the operational and strategic management of the company's income.

The main goal of any commercial structure is to maximize the profits of its owners. Using this indicator as an assessment of activity, one can try to steadily increase the income of the enterprise through a number of activities [, p. 95]:

management of the product range, ranking it in descending order of profitability;

planning the renewal of the product range;

updating obsolete equipment and mastering new technologies;

development of operational plans for the development of production for a long time;

determination of investment and dividend policy;

use of the securities market.

Most of all, in the bulk of business entities, the main attention is paid to the well-known factors of income growth associated with the operation of the enterprise: the growth of production volume, the reduction of costs for the production of goods and services, and the optimization of prices.

The optimal use of most of the listed opportunities for profit growth can be obtained as a result of a deep analysis by the criterion of profitability, enumeration of possible options, sound strategic plans for profit.

Profit as a criterion for the efficiency of reproduction and as an indicator that has two boundaries - the volume of production or services (sales) and the cost, has one important property: it reflects the final result of intensive and extensive development. The latter is associated with the factor of growth in production volume and natural savings from a relative decrease in conditionally fixed cost elements: the payroll fund (accordingly, accruals going to off-budget funds), depreciation, energy fuel, payments to the budget for resources, non-production and some other expenses. In domestic practice, when analyzing profits, this factor is rarely singled out.

Since there are many indicators of profit, the reasoning is carried out, first of all, from the position of the owners of the company, who play a key role in the fate of the business. For them, the basic performance characteristic is net profit; it is this indicator that they consider as one of the main criteria for the success of the company. Net profit is the difference between income and expenses, understood in a generalized sense. It clearly follows from this that the appropriate set of procedures for assessing and managing profitability implies such impacts on the factors of financial and economic activity that would increase income and reduce costs [, p. 496].

As part of the increase in income, assessment, analysis and planning of the fulfillment of planned targets and sales dynamics in various sections, the rhythm of production and sales, the sufficiency and efficiency of diversification of production activities, the effectiveness of pricing policy, the influence of various factors (capital-labor ratio, workload of production capacities, shifts, pricing) should be carried out. policy, staffing, etc.) on changes in the value of sales, seasonality of production and sales, the critical volume of production (sales) by type of product and division, etc. The results of planning and analytical calculations are usually drawn up in the form of tables containing planned (basic) and actual (expected) values ​​of production volumes and sales and deviations from them in natural and value terms, as well as in percentage terms.

The search and mobilization of factors for increasing revenues are the responsibility of the top management of the company, as well as its marketing service. The role of the financial service is mainly to substantiate a reasonable pricing policy, assess the feasibility and economic efficiency of a new source of income, monitor compliance with internal benchmarks in terms of profitability in relation to existing and new industries.

The second task - reducing costs (costs) - involves the assessment, analysis, planning and control over the execution of planned targets at the place of occurrence and type of costs (costs), as well as the search for reserves of reasonable reducing the cost of production.

Management of expenses (costs) in the context of the ideology of responsibility centers. Plan targets for costs can be set in various sections. One of the most important is cost control as an element of the management system for responsibility centers Financial Responsibility Center (FRC) - a structural unit or group of units:

carrying out operations, the ultimate goal of which is profit optimization;

capable of having a direct impact on profitability;

accountable to senior management for the achievement of established goals and compliance with spending levels within established limits.

The profit remaining at the disposal of the enterprise is used by it independently and directed to the further development of entrepreneurial activity. No bodies, including the state, have the right to interfere in the process of using the net profit of the enterprise. Market conditions of management determine the priority areas of their own profits. The development of competition necessitates the expansion of production, its improvement, and the satisfaction of the material and social needs of labor collectives.

In accordance with this, as they become available, the net profit of enterprises is directed to finance R&D, as well as work on the creation, development and implementation of new equipment, to improve technology and organization of production, to modernize equipment, improve product quality, technical re-equipment, reconstruction of existing production. Net profit is a source of replenishment of own working capital. In addition to the direct direction for production needs, net profit is a source of interest on loans received to fill the lack of own working capital, to purchase fixed assets, as well as the payment of interest on overdue and deferred loans.

Some types of fees and taxes are paid at the expense of net profit, for example, a tax on the resale of cars, computers and personal computers, a fee on transactions for the purchase and sale of currency on stock exchanges, a fee for the right to trade, etc.

Along with the financing of production development, the profit remaining at the disposal of the enterprise is directed to meet consumer and social needs.

Thus, one-time incentives and benefits for those retiring, as well as supplements to pensions, are paid out of this profit. Dividends are paid on shares and contributions of members of the labor collective to the property of enterprises. Expenses are incurred to pay for additional vacations in excess of the duration established by law, housing is paid, material assistance is provided. In addition, expenses are incurred for free meals or meals at reduced prices (excluding the cost of special meals for certain categories of workers, which is charged to production costs in accordance with applicable law).

Providing production, material and social needs at the expense of net profit, the organization should strive to establish the optimal ratio between the fund of accumulation and consumption in order to take into account market conditions and at the same time stimulate and encourage the results of the work of its employees.

The profit remaining at the disposal of the enterprise serves as a source of financing not only for production and social development, as well as material incentives, but also in case of violation of the current legislation by the enterprise - the payment of various fines and sanctions. Thus, fines are paid out of net profit in case of non-compliance with the requirements for environmental protection from pollution, sanitary norms and rules. When the regulated prices for products (works, services) are overstated, the unlawfully received profit by the enterprise is collected from the net profit.

In cases of concealment of profits from taxation or contributions to off-budget funds, penalties are also collected, the source of payment of which is net profit.

In the context of the transition to market relations, it becomes necessary to reserve funds in connection with the conduct of risky operations and, as a possible consequence of this, the loss of income from business activities. Therefore, when using net profit, the enterprise has the right to create a financial reserve, i.e. risk fund. The amount of this reserve must be at least 15% of the authorized capital. Every year, the reserve fund is replenished by deductions that make up almost 5% of the profit remaining at the disposal of the enterprise. In addition to covering possible losses from business risks, the financial reserve can be used for additional costs for the expansion of production and social development, for the development and implementation of new technology, the increase in own working capital and filling their gap, for other costs due to the socio-economic development of the team.

With the expansion of sponsorship, part of the net profit can be directed to charitable needs, to assist theater groups, organize art exhibitions and other purposes. [, with. 195].

1.5. Distribution of profits of the enterprise.

The distribution and use of profits is an important economic process that provides both coverage of the needs of entrepreneurs and the formation of state revenues. Under the distribution of profits is understood the direction of profits to the budget through the payment of income tax and according to the items of use in the enterprise.

Legislatively, the distribution of profits is regulated in that part of it that goes to the budget in the form of income tax. The determination of the directions for spending the profit remaining at the disposal of the enterprise after paying income tax, the structure of the articles of its use is carried out on the basis of the developed dividend policy and in accordance with the internal regulations of the enterprise, including the charter and memorandum of association [, p. 195].

Depending on the objective conditions of social production at various stages of the development of the Russian economy, the profit distribution system changed and improved, but its fundamental basis remained unshakable - relations with the state acted as an integral part of the administrative-command system, distribution was carried out in relation to each enterprise or industry separately.

Directiveness prevailed in the mechanism of profit distribution, each enterprise was placed in a rather rigid framework: where, in what quantity and in what order to direct the earned profit.

Settlements of enterprises with the budget at different stages of the development of the profit distribution system were either somewhat simplified, or significantly more complicated. Beginning in 1991, the Russian financial system switched to tax methods of profit distribution, which provided for the replacement of individual standards with uniform tax rates. In the relationship between enterprises and the budget, the multi-channel nature of payments from profits is eliminated. Enterprises, regardless of their organizational and legal forms and subordination, pay income tax to the budget, after which enterprises can quickly maneuver the earned funds. Normative distribution of profits remaining at the disposal of enterprises has been eliminated.

The profit distribution mechanism should be built in such a way as to contribute in every possible way to increasing the efficiency of production, to stimulate the development of new forms of management.

One of critical issues the distribution of profit both before the transition to market relations and in the conditions of their development is the optimal ratio of the part of profit accumulated in budget revenues and the part remaining at the disposal of the enterprise.

An economically justified system of profit distribution should guarantee the fulfillment of financial obligations to the state and ensure the production, material and social needs of enterprises and organizations to the maximum.

1.6. Profit planning methods.

Calculation of the optimal amount of profit becomes the most important element of business planning at the present stage of management. The success of the financial and economic activities of the enterprise depends on how reliably the planned profit is determined.

The calculation of the planned profit should be economically justified, which will allow timely and full financing of the increase in own working capital, investments, as well as timely settlements with the budget, banks and suppliers. Therefore, proper profit planning in enterprises is of key importance not only for entrepreneurs, but also for the economy as a whole.

Profit is planned separately for commercial products, other non-commercial products and services. The balance of operating and non-operating income and expenses is also planned.

1. Method of direct counting. The object of planning are the elements of accounting profit: profit from sales of products, profit from other sales and non-operating transactions. The basis for the calculation is the volume of the production program in accordance with the orders of consumers.

Profit on commodity output (Pto) is planned on the basis of cost estimates, where the cost of commodity output of the planned period is determined:

P tp = TP pl - WITH P , (2.1)

where TP pl- the cost of marketable products of the planned period at current selling prices (excluding value added tax, excises, trade and sales discounts);

With P- the total cost of marketable products of the planned period.

Based on the fact that the volume of sold products of the upcoming planning period in physical terms is determined as the sum of the balances of unsold products at the beginning of the planning period and the volume of output of marketable products during the planning period without the remains of finished products that will not be sold at the end of this period, the calculation of the planned profit from product sales ( P etc) will take the form:

P etc = P He + P tp – P OK , (2.2)

where P He- profit in the balance of products not sold at the beginning of the planning period;

P OK- profit in the balance of products that will not be sold at the end of the planning period.

2. Analytical method. It is used for a large range of manufactured products, as well as as an addition to the direct method in order to check and control it. The advantage is that it allows you to determine the influence of individual factors on the planned profit.

The calculation base is the cost per ruble of marketable products, calculated in the wholesale prices of the enterprise, the basic profitability, as well as the totality of the planned indicators of the enterprise's activity (factorial method).

2.1. Profit planning based on the cost per ruble of marketable products is carried out according to the formula:

P tp = TP pl ×(1 - Z tp ) (2.3)

where P tp- profit on commodity release of the planned period;

TP pl- the cost of commodity output of the planned period in current selling prices;

W tp- the cost of the ruble of marketable products.

2.2. Profit planning by means of the percentage of basic profitability is carried out by transferring the percentage of profitability from the sale of comparable products that has developed in the reporting year to the planned year, taking into account the level of wholesale prices and other factors affecting the amount of profit.

The calculation of profit by means of basic profitability consists of three successive stages:

1. Determination of basic profitability ( R b) as a quotient of the expected profit for the reporting year ( P b) to the full cost of comparable marketable products ( With pb) for the same period.

R b = P b / With pb (2.4)

Calculation of the volume of marketable products in the planning period at the cost of the reporting year (WITH pb) and determination of profit on commodity output based on the basic profitability.

Accounting for the impact on the planned profit of various factors: changes in the cost of comparable products, quality (grade) of products, the structure of output (assortment), product prices. It is also necessary to identify the inflationary component of profit growth.

The volume of output can have a positive and negative impact on the amount of profit. An increase in sales of cost-effective products leads to a proportional increase in profits. If the product is unprofitable, then with an increase in sales volume, a decrease in profit occurs.

The cost of production and profit are inversely proportional: a decrease in cost leads to a corresponding increase in the amount of profit, and vice versa.

The structure of marketable products has both a positive and a negative impact on the amount of profit. An increase in the share of more profitable types of products in the output structure leads to an increase in profits. With an increase in the share of low-profit or unprofitable products, the total amount of profit will decrease.

The change in sales prices and the amount of profit are directly proportional: with an increase in prices, profit increases, and vice versa.

The influence of the listed factors on the planned profit:

P pl = Cn pl × R b ± ∆V ± ∆C ± ∆A ± ∆C(2.5)

where P pl- planned profit;

∆AT- the impact of changes in commodity output in comparable prices;

∆With- the impact of changes in the cost of commercial products;

∆BUT- the impact of a structural (assortment) shift in commodity output;

∆C- the impact of changes in selling prices on the company's products.

The influence of the considered factors on profit is determined first without taking into account inflation, and then with the help of inflationary price growth indices calculated by the enterprise itself. Inflation forecasting should be carried out in four main areas:

changes in prices for products sold;

change in prices for acquired inventory items;

change in the cost of fixed assets and capital investments according to accounting estimates;

change in the average wage due to inflation.

The profit plan for the next year is developed at the end of the reporting period. Therefore, to determine the basic profitability, reporting data for the past time (for I - III quarters inclusive) and the expected fulfillment of the plan for the period remaining until the end of the year (for the IV quarter) are used.

Profit in the reporting period is taken in accordance with the level of prices in force at the end of the year. Therefore, if during the past year there were changes in prices or rates of value added tax and excises that affected the amount of profit, they are taken into account when determining the expected profit for the entire reporting period, regardless of the time of the change. Otherwise, the level of profitability of the reporting year will not be able to serve as a base for the planned one. To calculate the planned profit from the sale of products, the profit in the balance of unsold products at the beginning and end of the planning period is taken into account.

2. Profit management on the example of DUET LLC

2.1. Analysis of profit distribution practices

Analyzing the distribution of net profit in special purpose funds, it is necessary to know the factors in the formation of these funds. The main factor is 1) - net profit, 2) profit deduction ratio.

Table 2.1.

Data on the use of net profit, thousand rubles.

Indicator			Deviations (+, -)
1. Net profit
2. Distribution of net profit:
to the accumulation fund
to the consumption fund
to the social sphere fund
3. Share in net profit, %
accumulation fund
consumption fund
to the social sphere fund

Consider in table 2.2. the influence of factors - the amount of net profit and the coefficient of profit deductions on deductions to funds.

The change in contributions to special purpose funds due to changes in net profit can be calculated using the formula:

ΔF n (P) \u003d ΔP h ∙ K 0,

ΔФ n (P) = +1172.19 thousand rubles. * 64% = 750.20 thousand rubles - accumulation fund

ΔF p (P) = +1172.19 thousand rubles. * 29% = 339.94 thousand rubles. - consumption fund

ΔF s (P) = +1172.19 thousand rubles. * 7% = 82.05 thousand rubles. - social fund spheres

where ΔF n (P) - increment of the accumulation fund (consumption) due to changes in net profit; ΔП h - increment of the amount of net profit; K 0 is the coefficient of deductions from net profit to the corresponding fund.

To do this, we multiply the increase in net profit due to each factor by the base (2007) coefficient of contributions to the corresponding fund.

The amount of deductions to funds is also influenced by changes in the deduction ratio from net profit. The level of its influence is calculated by the formula:

ΔF n (K) \u003d (K 1 - K 0) P h 1, where

ΔF n (K) - increment of the consumption fund (accumulation) from the change in the coefficient of deductions; K 1 , K 0 - actual and basic coefficients of deductions to consumption funds (accumulation); P h 1 - net profit for the reporting period.

ΔF n (K) \u003d (0.52-0.29) * 2,731.49 thousand rubles. = 628.24 thousand rubles. - consumption fund

ΔF n (K) \u003d (0.37-0.64) * 2,731.49 thousand rubles. = - 737.50 thousand rubles. - accumulation fund

ΔF n (K) \u003d (0.11-0.07) * 2,731.49 thousand rubles. = 109.26 thousand rubles. - social fund spheres

Table 2.2

Calculation of the influence of factors (the sum of net profit and the contribution rate) on the amount of deductions to the enterprise's funds.

Fund type	The amount of distributed profit, thousand rubles.		Share of deductions,		Amount of deductions, thousand rubles			Deviation including through
Savings
consumption
Social spheres

It follows from the above calculations that the reduction in the share of contributions to the accumulation fund was affected by a decrease in the coefficient of contributions by 737.50 thousand rubles, and due to the influence of net profit, contributions to the accumulation fund increased by 750.20 thousand rubles.

Changes in contributions to the consumption fund increased due to the impact of net profit by 339.94 thousand rubles. and due to the coefficient by 628.24 thousand rubles.

Changes in contributions to the social sphere fund increased due to the impact of net profit by 82.05 thousand rubles. and due to the coefficient by 6109.26 thousand rubles.

The ratio of the use of profits for accumulation and consumption has an impact on the financial position of the enterprise. Insufficiency of funds allocated for accumulation hinders the growth of turnover, leads to an increase in the need for borrowed funds.

An analysis of the use of profits reveals how efficiently funds were allocated for accumulation and consumption.

The upper limit of the potential development of the enterprise is determined by the return on equity, which shows the effectiveness of the use of equity capital.

The profitability of own funds can be represented as the ratio of the amount of funds allocated for accumulation and consumption to the amount of own funds.

R c c \u003d (Net profit / Equity capital) * 100%

Table 2.3

Calculation of the dynamics of return on equity

The table shows that the return on equity increased by 21.81% compared to last year

The return on equity shows the effectiveness of the use of equity, indicates the amount of profit received from each ruble invested in enterprises by the owners.

In order to achieve high turnover growth rates, it is necessary to increase the opportunities for increasing the profitability of own funds.

The ratio of the accumulation fund to the amount of equity determines the internal growth rate, i.e. the rate of increase in assets.

R cc = F n / SK

where F n - accumulation fund, SC - equity

Table 2.4

Calculation of the dynamics of the rate of increase in assets

Internal growth rates, i.e. the rate of increase in assets decreased compared to 2007 by 0.04.

The ratio of the consumption fund to the size of own capital is the level of consumption.

R cc \u003d F p / SK,

Where F p - consumption fund, SC - equity.

Table 2.4

Calculation of consumption level dynamics

Conclusion: Internal growth rates are decreasing, albeit slightly, by 0.04, which means that the profit distribution policy has not been chosen correctly.

At Duet LLC, most of the profits were directed to the consumption fund and used for social payments. However, the insufficiency of funds allocated for accumulation hinders the growth of turnover, leads to an increase in the need for borrowed funds.

2.2. Factor analysis of the profitability of Duet LLC

The characteristics of the profitability indicators of the enterprise will be incomplete without a factor analysis of profitability.

According to the "Profit and Loss Statement" it is possible to analyze the dynamics of sales profitability, the profitability of the reporting period, as well as the influence of factors on the change in these indicators.

Return on sales (RI) is the ratio of the amount of profit from sales to the volume of products sold:

RI \u003d ((B - C - KR - UR) / B) * 100% \u003d (P r / B) * 100%,

From this factorial model it follows that the profitability of sales is influenced by the same factors that affect the profit from sales. To determine how each factor affected the profitability of sales, we will carry out the following calculations.

The impact of changes in sales revenue on the profitability of sales:

D R d (B) \u003d [((B 2008 - C 2007 - Kr 2007 - Yr 2007) / V 2008) - ((B 2007 - C 2007 - Kr 2007 - Yr 2007) / V 2007)] * 100%,

where Since 2008 and Since 2007 - reporting and basic cost;

CR 2008 and CR 2007 - reporting and basic selling expenses;

SD 2008 and SD 2007 - reporting and basic management expenses.

D R 2008 (B) = [((10,863.44 thousand rubles - 2,430.65 thousand rubles - 955.48 thousand rubles - 250.79 thousand rubles) / 10,863.44 thousand rubles rubles) – ((6,299.67 thousand rubles - 2,430.65 thousand rubles - 955.48 thousand rubles - 250.79 thousand rubles) / 6,299.67 thousand rubles) ] * 100% = ((7,226.52 thousand rubles / 10,863.44 thousand rubles) - (2,662.75 thousand rubles / 6,299.67 thousand rubles)) * 100% = (0.665 – 0.423) * 100% = 0.242 * 100% = + 24.2%

The impact of changes in the cost of sales on the profitability of sales:

D R 2008 (C) = [((B 2008 - C 2008 - Kr 2007 - Yr 2007) / B 2008) - ((B 2008 - C 2007 - Kr 2007 - Yr 2007) / B 2008)] * 100%,

D R 2008 (С) = [((10,863.44 thousand rubles - 3,894.29 thousand rubles - 955.48 thousand rubles - 250.79 thousand rubles) / 10,863.44 thousand rubles rubles) – ((10,863.44 thousand rubles - 2,430.65 thousand rubles - 955.48 thousand rubles - 250.79 thousand rubles) / 10,863.44 thousand rubles) ] * 100% = ((5,762.88 thousand rubles - 7,226.52 thousand rubles) / 10,863.44 thousand rubles) * 100% = ((- 1463.64 thousand rubles) / 10,863.44 thousand rubles) * 100% = (- 0.135) * 100% =

The impact of changes in selling expenses on the profitability of sales:

D R 2008 (KR) = [((B 2008 - S 2008 - Kr 2008 - Sd 2007) / S 2008 ) - ((S 2008 - S 2008 - S 2007 - S 2007) / S 2008 )] * 100%

D R 2008 (KR) = [((10,863.44 thousand rubles - 3,894.29 thousand rubles - 2,500.00 thousand rubles - 250.79 thousand rubles) / 10,863.44 thousand . rub.) - ((10,863.44 thousand rubles - 3,894.29 thousand rubles - 955.48 thousand rubles - 250.79 thousand rubles) / 10,863.44 thousand rubles. )] * 100% = ((4,218.36 thousand rubles - 5,762.88 thousand rubles) / 10,863.44 thousand rubles) * 100% = ((- 1,544.52 thousand rubles .) / 10,863.44 thousand rubles) * 100% = (- 0.142) * 100% =

The impact of changes in management costs on the profitability of sales:

D R 2008 (UR) \u003d [((In 2008 - Since 2008 - Kr 2008 - Ur 2008) / In 2008 ) - ((In 2008 - Since 2008 - Kr 2008 - Ur 2007) / In 2008 )] * 100%,

D R 2008 (UR) = [((10,863.44 thousand rubles - 3,894.29 thousand rubles - 2,500.00 thousand rubles - 300.48 thousand rubles) / 10,863.44 thousand . rub.) - ((10,863.44 thousand rubles - 3,894.29 thousand rubles - 2,500.00 thousand rubles - 250.79 thousand rubles) / 10,863.44 thousand rubles .)] * 100% = ((4,168.67 thousand rubles - 4,218.36 thousand rubles) / 10,863.44 thousand rubles) * 100% = ((- 49.69 thousand rubles .) / 10,863.44 thousand rubles) * 100% = (- 0.0046) * 100% =

The cumulative influence of factors is:

D R1 2008 = D R 2008 (B) + D R 2008 (C) + D R 2008 (KR) + D R 2008 (UR),

D R1 2008 = + 24.2% - 13.5% - 14.2% - 0.46% = - 3.96%

Thus, the profitability of the implementation of the reporting period decreased by 3.96% compared to the profitability of the previous period. The greatest impact on the decline in profitability was made by such a factor as selling expenses.

The profitability of the organization's activities in the reporting period is calculated as the ratio of the amount of profit of the reporting period to the sales proceeds:

R2 \u003d (P b / V) * 100%,

And, therefore, this profitability (R2) is influenced by the factors that form the profit of the reporting period. The profitability of the reporting period (R2) is influenced (except for the above) by changes in the levels of all indicators of factors:

D R2 2008 = D R1 2008 + D U%pol 2008 + D U%upl 2008 + D Udrd 2008 + D Udrr 2008 +

D UPD 2008 + D UPD 2008 + D UVnD 2008 + D UVnR 2008, formula 30

D R2 2008 = - 3.96 + 0 + 0 + 0 + 0 + 0 + 0 +0.2 -1.7 = - 5.46%

Thus, the decrease in the profitability of the reporting period by 5.46% was influenced, mainly, by the decrease in the level of profitability of sales.

At the end of the profit and profitability analysis of Duet LLC, the following conclusions can be drawn:

1. Analysis of the dynamics of balance sheet profit in comparable prices allows us to judge the positive dynamics for the period from 2005 to 2008. For the analyzed period, the balance sheet profit increased by 3,339.21 thousand rubles. In 2008, the balance sheet profit growth rates decreased significantly in comparison with 2007; the reason for the decrease in the balance sheet profit growth rate lies, first of all, in the acceleration of the growth rates for the period from 2007 to 2008 of the company's selling expenses.

2. In 2008, compared to 2007, the amount of income tax and other obligatory payments from profit increased by 64% compared to 2007, which directly depends on the growth of the profit before tax indicator itself by the same 64%. Thus, over the past 2 years, the taxation system at the enterprise has not changed.

3. Factor analysis of the profit of the enterprise showed that:

increase in sales proceeds in the reporting period by 682.15 thousand rubles. (excluding the effect of price) caused an increase in the amount of profit from sales by 1,809.26 thousand rubles,

the increase in prices in the reporting period led to an increase in the amount of profit from sales by 288.55 thousand rubles,

cost savings included in the cost led to an increase in the amount of profit by 293.31 thousand rubles,

overspending on selling expenses in the reporting period and their growth by 7.8 points led to a decrease in the amount of profit from sales by 844.35 thousand rubles,

savings on administrative expenses in the reporting period led to an increase in the amount of profit from sales by 130.36 thousand rubles.

4. The return on equity increased by 21.81% compared to the previous year, which indicates a fairly effective use of equity

5. Internal growth rates are decreasing, albeit slightly, by 0.04, which means that the profit distribution policy has not been chosen correctly.

6. The profitability of the implementation of the reporting period decreased by 3.96% compared to the profitability of the previous period. The greatest impact on the decline in profitability was made by such a factor as selling expenses.

the decrease in the profitability of the reporting period by 5.46% was influenced, mainly, by the decrease in the level of profitability of sales.

2.3. Proposals for optimizing the process of profit formation Duet LLC

The main directions for improving the mechanism for distributing financial results include:

optimization of the profit taxation system; development of such a system of rates and benefits of income tax, which will stimulate the use of net profit, first of all, for the development and improvement of its own production base;

elimination of unproductive costs and losses; development and implementation of measures aimed at overcoming the crisis of non-payments in order to gradually reduce the amounts of penalties and fines paid to the budget and extra-budgetary funds;

optimization of the distribution of net profit remaining at the disposal of Duet LLC for consumption and accumulation funds;

a set of measures that ensure the expedient and efficient use of funds from consumption and accumulation funds.

Let's look at some areas in more detail.

The tax policy of the state directly affects the economic activity of the enterprise, therefore, the fate of the business, the possibility of its growth and development often depend on the competent, professional decision of the taxpayer, taking into account the tax consequences.

The features inherent in the taxation process necessitate the allocation of tax management in an enterprise, which implies tax planning at the business level and is an integral part of enterprise financial management.

Tax planning from the point of view of the taxpayer is one of the main elements of tax management and an integral part of its financial and economic activities. For the most part, taxes for an enterprise are additional costs that affect the financial result, so the essence of tax planning at the level of business entities is to minimize taxes based on the maximum use of the possibilities of tax legislation.

The most manageable areas of tax planning to achieve an economic effect is the optimal choice of accounting and tax policies and tax regime. Taxation management begins with the development of the tax policy of the enterprise and its relationship with the accounting policy. In this regard, it is advisable to calculate the options for certain provisions of these policies, since the number and amount of taxes transferred to the budget directly depend on the decisions made. The greatest effect of optimization of accounting and tax policy at the enterprise is achieved with marketing research. When developing accounting and tax policies, it is advisable to be guided by the principle of their compliance, which allows you to keep accounting and tax records with the lowest labor and economic costs. This compliance principle should be implemented when developing these policies by elements (accounting for fixed assets, accounting for intangible assets, the procedure for recognizing income and expenses, accounting for loans and credits, and others). It is desirable that the procedure for reflecting certain provisions of accounting and tax policies coincide, as a result of which there will be fewer permanent and temporary differences that are taken into account in taxation.

Relevant for tax management at the enterprise is the choice of taxation regime. This aspect can be considered in 2 tax regimes, according to which enterprises can build their activities: a simplified taxation system; general tax regime. A simplified regime is provided for small businesses. The choice is made on a voluntary basis, but at the same time, small businesses must meet the conditions for the maximum number of employees, the amount of assets and the size of the authorized capital.

To compare the simplified system and the general taxation regime, a calculation was made according to the data of Duet LLC, Verkhny Ufaley, which pays taxes according to the general taxation regime, but according to financial indicators (number - less than 100 people; the authorized capital is distributed accordingly, the residual value of the main funds does not exceed 100 million rubles, according to the results of the tax (reporting) period, the taxpayer's income does not exceed 15 million rubles) can switch to a simplified regime.

Table 3.1.

Information base for the calculation of taxes to the budget for 2008.

The calculation of taxes to the budget for 2 taxation systems is presented in Table 3.2.

Table 3.2.

Calculation of taxes to the budget for 2008 (thousand rubles)

General mode	Simplified taxation system
UST (35.6%, including 14% - to the pension fund): 229.35 * 35.6% = 81.65	STS (15%): (10,863.44 -3,894.29 -126.85 - 229.35) * 15% = 6,612.95 * 15% = 991.94
Property tax (2%): 3111.45 * 2% = 62.23	Contributions to the pension fund = 229.35 * 14% = 32.11
Income tax (24%): 4,188.45 * 24% = 1,005.23	Mandatory payments to the FSS -0.2% of the payroll = 229.35 * 0.2% = 0.46
Personal income tax (13%): 229.35 * 13% = 29.82
Other obligatory payments = 253.87	Total under the simplified taxation system: 1,054.33
Total for the general regime:1 465,96

The effect of the use of the simplified tax system in the amount of 411.63 tr. would allow the company to identify additional economic opportunities. In particular, the net profit in 2008 would be 3,143.12. Thus, we can highlight the main advantages when switching to a simplified mode: Accounting has a simplified version, there is a closed list of paid and unpaid taxes, a reduction in the tax burden due to the narrowing of the tax base and a decrease in tax rates, most taxes are replaced by a single tax payment.

Thus, it is advisable to single out tax management as a separate branch of financial and economic activity management, this will make the enterprise informationally “transparent” for tax structures, and provides an opportunity to manage costs and financial results, which is important for economic growth.

An analysis of the use of profits by Duet LLC showed how funds were distributed to the consumption fund and the accumulation fund.

At Duet LLC, most of the profits were directed to the consumption fund and used for social payments, which led to a slowdown in the turnover of current assets, limiting the possibility of increasing turnover and profits.

Insufficiency of funds allocated for accumulation hinders the growth of turnover, leads to an increase in the need for borrowed funds.

The direction of funds to the accumulation fund will increase the economic potential, increase the solvency of the enterprise and financial independence, will contribute to the growth of the volume of work performed and sales without increasing the amount of borrowed funds.

Thus, Duet LLC needs to revise the procedure for distributing profits, directing most for the formation of an accumulation fund.

End of form

Conclusion.

AT term paper the theoretical aspects of enterprise profit management in modern conditions are covered, namely, the mechanism of formation and indicators of profit, methods of profit management and its distribution in modern taxation conditions.

The project of measures includes the recommendations proposed in the third chapter of the work on improving the policy of formation and distribution of profits of Duet LLC. In particular, as part of improving the process of generating profits, it was proposed:

optimize the accounting policy of the enterprise on the issue of accounting for financial results of activities, depending on the term of their payment;

develop a more “transparent” system for accounting for the activities of the enterprise, introducing a separate balance sheet for each area of ​​the enterprise’s activities

to introduce measures to improve the marketing policy in the area of ​​activity "newspaper", the implementation of which will improve the financial results from the implementation of this type of activity.

As part of the improvement of the profit distribution process, it was proposed:

reconsider the procedure for distributing profits, directing most of it to the formation of an accumulation fund;

to replace the current tax regime. The effect of the use of the simplified tax system in the amount of 411.63 tr. would allow the company to identify additional economic opportunities. In particular, the net profit in 2008 would be 3,143.12. Thus, it is possible to single out the main advantages in the transition to a simplified regime: accounting has a simplified version, there is a closed list of paid and unpaid taxes, a reduction in the tax burden due to a narrowing of the tax base and a decrease in tax rates, most taxes are replaced by a single tax payment.

Bibliography

Vasilyeva L.S. Financial analysis: textbook / L.S. Vasilyeva, M.V. Petrovskaya. – M.: KNORUS, 2006. 544 p.

Gavrilova A.N. Finance of organizations (enterprises): textbook / A.N. Gavrilova, A.A. Popov. - 3rd ed., revised. and additional – M.: KNORUS, 2007. – 608 p.

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Journal of financial management N4, 2004

Karaseva I.M. Financial management: textbook. allowance for the specialization "Management org." / THEM. Karaseva, M.A. Revyakin; ed. Yu.P. Aniskin. - Moscow: Omega-L, 2006. - 335 p.

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Appendix

Indicators
1. Non-current assets
Intangible assets
fixed assets
Construction in progress
Long-term financial investments
Other noncurrent assets
Section 1 Total
2. Current assets
stocks, including
raw materials
finished products
Goods shipped
future spending
Value added tax on acquired valuables
Accounts receivable (payments more than a year later)
Accounts receivable (payments during the year)
Short-term financial investments
Cash
Other current assets
Section 2 total
BALANCE (190+290)
3. Capital and reserves
Authorized capital
Extra capital
Reserve capital
Social Sphere Fund
Undestributed profits
Section 3 Total
4. Long-term liabilities
Loans and credits
Other long-term liabilities
Section 4 total
5. Current liabilities
Loans and credits
Accounts payable
revenue of the future periods			profit enterprises based on a particular mechanism. Into the mechanism structure management profit includes... Perfection management profit enterprises Rolon LLC Thesis >> Finance Reorientation of the economy enterprises. 3. Development of an efficiency improvement program management profit enterprises at LLC "..., analysis, audit. - M .: Phoenix, 2003. Burtsev V.V. Control profit enterprises// Financial management, No. 4. - 2006. - p. ... Policy improvement management profit enterprises OJSC Vologda Machine Tool Coursework >> Finance Coursework TOPIC: "IMPROVEMENT OF POLICY MANAGEMENT PROFIT ENTERPRISES"(JSC Vologda Machine Tool Plant) ... manufacturers, they can be regulated. Control profit enterprises comes down to the development of a mechanism for organizing and ... Financial solutions for management profit enterprises Abstract >> Management Use and planning for enterprise. Ensuring effective management profit enterprises defines a number of requirements for this ... preferential taxation, etc. In the process management profit enterprises the main role is given to the formation of profit ... Control profit on the enterprise (4) Abstract >> Management Distribution and use on enterprise. Ensuring effective management profit enterprises defines a number of requirements for... - Development of a targeted integrated strategy management profit enterprises. - Creation of organizational structures,...

Profit, the most important economic category, has received a new content in the conditions of the country's modern economic development, the formation of real independence of business entities. Being the main driving force market economy, it ensures the interests of the state, owners and personnel of the enterprise. Profit is an integral element of market relations, which occupies a prominent place in the creation of a market for means of production, consumer goods, and securities.

Profit is the monetary expression of the main part of the monetary savings created by enterprises of any form of ownership. As an economic category, it characterizes the financial result of the entrepreneurial activity of the enterprise. Profit is an indicator that most fully reflects the efficiency of production, the volume and quality of manufactured products, the state of labor productivity, and the level of cost. At the same time, profit has a stimulating effect on the strengthening of commercial calculation, the intensification of production under any form of ownership.

Profit is one of the main financial indicators of the plan and assessment of the economic activity of enterprises. At the expense of profits, financing of measures for the scientific, technical and socio-economic development of enterprises, an increase in the wage fund of their employees is carried out.

It is not only a source of ensuring the intra-economic needs of enterprises, but is also becoming increasingly important in the formation of budgetary resources, extra-budgetary and charitable funds.

The multidimensional significance of profit is enhanced with the transition of the state economy to the foundations of a market economy. The fact is that a joint-stock, leased, private or other form of ownership of an enterprise, having gained financial independence and independence, has the right to decide for what purposes and in what amounts to direct the profit left after paying taxes to the budget and other obligatory payments and deductions.

Therefore, one of the urgent tasks modern stage is the mastery of managers and financial managers with modern methods of effective management of the formation, distribution and use of enterprise profits. Responsibility for the timeliness and quality of decisions made is also growing significantly. The role of marketing research is increasing, which makes it possible to study the dynamics of needs in the market for goods and services.

Competent, effective management of profit formation provides for the construction at the enterprise of appropriate organizational and methodological systems for ensuring this management, knowledge of the main mechanisms for generating profit, the use of modern methods of its analysis and planning.

Along with the formation of profits at each enterprise, effective management of its distribution should be ensured. At the same time, it must be borne in mind that each cycle of profit distribution of the reporting period is at the same time the process of ensuring effective conditions for its formation on an expanded basis in the coming period, the implementation of the goals of the strategic development of the enterprise.

In modern conditions, an extremely unfavorable situation has developed at Russian enterprises in relation to profit indicators. The decline in industrial production continues, the mass of profits in the real sector of the economy is reduced, specific gravity unprofitable activities. In such conditions, the issues of profit management become the most relevant.

The relevance of the research topic is explained by the importance of profit in the activities of the enterprise, since its maximization is a paramount task.

The aim of the work is to study the theoretical foundations of the profit management mechanism in the real sector of the economy, to analyze the effectiveness of its formation, distribution and use on the example of a particular enterprise. To achieve this goal, the following tasks were set in the thesis work:

disclosed the basic concepts of the sphere of profit management;

the functions and objects of profit management are considered;

modern methods of profit management are described;

an assessment of the financial condition of TH "Olimp" was made;

analyzed the profit and profitability of TH "Olimp";

analysis of proceeds from sales;

the dynamics and distribution of the company's net profit were analyzed and recommendations were made to improve profit management at the enterprise.

The object of the study is the Olimp trading house, a branch of OAO Lipetskoblgaz.

Subject of study: the process of profit management in the trading house "Olimp". Study period: 2005-2007

In the work applied following methods Keywords: comparison method, calculation-analytical methods, methods of structural-dynamic analysis, graphical-analytical method.

In accordance with the tasks and objectives, this work is built, which consists of an introduction, three chapters, a conclusion and a list of references. The work contains 76 pages of text. To ensure clarity of perception of information, the work is illustrated with 10 figures, 13 tables.

The theoretical and methodological basis of the work was the works of domestic and foreign economists devoted to the problems of profit management and its improvement at the enterprise, materials of periodicals, legislative and regulatory acts of federal and regional significance.

Chapter 1. Theoretical Foundations of Profit Management

1.1 Basic concepts of the field of profit management

Profit, being the main driving force of a market-type economy, is characterized by a variety of content forms.

The main indicator of profit used to evaluate production and economic activities is: gross profit, balance sheet profit, profit from the sale of manufactured products, profit remaining at the disposal of the enterprise or net profit.

Gross profit is the amount of profit from the sale of products (works, services), fixed assets (including land plots), other property of the enterprise and income from non-sales operations, reduced by the amount of expenses on these operations.

Balance sheet profit - the sum of the profit of the enterprise from the sale of products and income from other activities. Balance sheet profit, as the final financial result, is determined on the basis of accounting.

Sales profit is the difference between gross income and the cost of selling goods (distribution costs). Profit is the resulting indicator of economic activity of a trading company.

Net profit is the difference between balance sheet profit and the amounts of deductions and payments to budgets of different levels.

Considering the essence of profit, one should first of all note its following characteristics:

Profit is a form of income of an entrepreneur carrying out a certain type of activity. This superficial, simplest form of expressing profit is, however, insufficient for its complete characteristics, because in some cases vigorous activity in any area may not be related to making a profit (for example, political, charitable, etc.).

Profit is a form of income of an entrepreneur who has invested his capital in order to achieve a certain commercial success. The category of profit is inextricably linked with the category of capital - a special factor of production - and in an average form characterizes the price of functioning capital.

Profit is not a guaranteed income of an entrepreneur who has invested his capital in a particular type of business. It is the result of only the skillful and successful implementation of this business. But in the process of doing business, an entrepreneur, due to his unsuccessful actions or objective reasons of an external nature, can not only lose the expected profit, but also completely or partially lose the invested capital. Therefore, profit is to a certain extent also a payment for the risk of doing business.

Profit does not characterize the entire income received in the process of entrepreneurial activity, but only that part of the income that is "cleared" from the costs incurred for the implementation of this activity. In other words, in quantitative terms, profit is a residual indicator, which is the difference between total income and total costs in the process of doing business.

Profit is a cost indicator, expressed in monetary terms. This form of profit assessment is associated with the practice of generalized cost accounting of all the main indicators associated with it - invested capital, income received, costs incurred, etc., as well as with the current procedure for its tax regulation.

Taking into account the considered main characteristics of profit, its concept in the most generalized form can be formulated as follows: “Profit is the net income of an entrepreneur on invested capital, expressed in cash, characterizing his reward for the risk of doing business, which is the difference between total income and total costs in the process of carrying out this activity.

The high role of profit in the development of the enterprise and ensuring the interests of its owners and staff determine the need for effective and continuous profit management. Profit management is the process of developing and making managerial decisions on all major aspects of its formation, distribution, use and planning in the enterprise.

Integration with the overall enterprise management system. In whatever area of ​​the enterprise's activity a management decision is made, it directly or indirectly affects profit. Profit management is directly related to the production management of personnel, investment management, financial management and some other types of functional management. This determines the need for organic integration of the profit management system with the overall enterprise management system.

The complex nature of the formation of management decisions. All management decisions in the field of formation and use of profit are closely interconnected and have a direct or indirect impact on the final results of profit management. In some cases, this impact can be contradictory. So, for example, the implementation of highly profitable financial investments can cause a shortage of financial resources that ensure production activities, and as a result, significantly reduce the amount of operating profit. Therefore, profit management should be considered as a complex system of actions that ensures the development of interdependent management decisions, each of which contributes to the effectiveness of the formation and use of profit for the enterprise as a whole.

High control dynamism. Even the most effective management decisions in the field of formation and use of profits, developed and implemented at the enterprise in the previous period, cannot always be reused at subsequent stages of its activity. First of all, this is due to the high dynamics of environmental factors at the stage of transition to a market economy, and, first of all, to the change in the conjuncture of the commodity and financial markets. In addition, the internal conditions for the functioning of an enterprise change over time, especially at the stages of transition to subsequent stages of its life cycle. Therefore, the profit management system should be characterized by high dynamism, taking into account changes in environmental factors, resource potential, forms of organization and management of production, financial condition and other parameters of the enterprise.

Orientation to the strategic goals of the enterprise development. No matter how profitable these or those projects of management decisions in the current period may seem, they should be rejected if they conflict with the mission (main goal of the activity) of the enterprise, the strategic directions of its development, undermine the economic basis for the formation of high profits in the coming period.

Profit management tasks include:

ensuring the maximization of the amount of generated profit corresponding to the resource potential of the enterprise;

ensuring the payment of the required level of income on invested capital to the owners of the enterprise;

ensuring the formation of a sufficient amount of financial resources at the expense of profit in accordance with the objectives of the development of the enterprise in the coming period;

ensuring the constant growth of the market value of the enterprise.

1.2 Functions and objects of profit management

The profit management mechanism implies such impacts on the factors of financial and economic activity that would contribute, firstly, to increasing income and, secondly, to reducing costs.

The subject of profit is the organizational and technical level of management entrepreneurial activity enterprises, the competitiveness of products, the level of labor productivity, the cost of production and sales of products, the level of prices for finished products.

The object of profit is cash receipts and payments. Making a profit is the main goal of any business entity. The most important role of profit, which increases with the development of entrepreneurship, determines the need for its correct calculation. The successful financial and economic activity of the enterprise will depend on how reliably the planned profit is determined.

Profit management in the enterprise is carried out using methods such as planning, formation, distribution and use of profit.

Profit planning is an integral part of financial planning. It is carried out separately for all types of activities of the enterprise. Separate planning is due to differences in the methodology for calculating the taxation of profits from various activities.

In the process of developing financial plans, all factors affecting the amount of profit are taken into account, and financial results are modified from the adoption of various management decisions. In a stable developing economy, profit planning is carried out for a period of three to five years. With relatively stable prices and predictable business conditions, current planning within one year is common. In an unstable economic and political situation, planning is possible for a short period - a quarter, half a year. The object of planning is the elements of balance sheet profit, primarily profit from the sale of products, performance of work, provision of services. The basis for calculating profits is the projected sales volume. This is due to the fact that the production program and stocks depend on the volume of sales. However, this volume may be limited by the available production capacity. In this case, they are the starting point for planning.

After determining the sales volume, a production program is developed on the basis of the concluded contracts. The production program depends on the planned volume of sales and on the amount of stocks of finished products in stock at the beginning and at the end of the planning period. In turn, the production program is the basis for calculating the need for materials. The need for materials is determined taking into account stocks in the warehouse at the beginning of the planning period, as well as carry-over balances at the end of the period.

An important element in profit planning is the accounting of labor costs. Taking into account the necessary contributions to social funds, labor costs are planned. Next, an estimate of the production overheads included in the production cost is compiled. The amount of these costs depends on their composition and behavior relative to the volume of production. Variable and fixed costs are determined separately. As a result of the calculations, the production cost of products sold is formed, taking into account the balances of finished products at the beginning and end of the planning period.

At the next stage, estimates of administrative and commercial costs are drawn up. Based on these calculations, a plan is formed for profit from product sales. To plan the balance sheet profit, data on upcoming operating, as well as non-operating income and expenses are used. The above method of profit planning is called the direct calculation method. It is based on the assortment calculation of profit from the production and sale of products. In the process of planning profit, it is important to determine due to what factors it grows or decreases. Since profit is calculated as the difference between price and cost, it is obvious that the amount of profit is influenced by price increases and cost reduction.

To maintain the level of profit at the enterprise, it is important to determine the moment of the start of designing and launching new products into production. Improvements in product quality, design, technical improvements, and other techniques to maintain demand for products require additional costs and therefore should also be applied long before profitability levels begin to decline, or at least as soon as such a trend begins to emerge. Moreover, on the crest of demand, the improvement of the offered product may entail an increase in its price, and, accordingly, profits.

For the formation of profit, it is important to determine the moment of sale of products. In some legislative acts the moment of implementation is interpreted differently. However, regardless of the accepted interpretation of the moment of sale in legislative acts, the formation of profit at the enterprise from the sale of products takes place only under the condition of real sale, that is, when funds are credited from the buyer to the supplier's settlement account. Determination of the moment of sale by the date of shipment of goods and the associated occurrence of tax liabilities is accompanied by the diversion of working capital of enterprises to pay taxes, the deterioration of their financial condition. Profit formation looks like this (Figure 1).

Fig.1. Profit generation

The amount of profit included in the price of products has a significant impact on the volume of sales of products, as well as directly on the profit from sales. In the conditions of the formation of a market economy, in most cases, state regulation of the profitability of products has been canceled, and it is possible to regulate profits due to this factor. This is facilitated by the lack of sufficient competition in the production and sale of many types of products.

There are the following factors of profit formation, which in a generalized form characterizes the structural - logical model shown in Figure 2.

Fig.2. Factors of profit formation

Many factors influence the change in profit. According to the degree of subordination, they are divided into factors of the first and second orders. The relationship of factors of the first and second orders with profit is direct, with the exception of changes in the cost, the reduction of which leads to an increase in profit. To external factors, which do not depend on the activities of the enterprise, include: market conditions, the level of prices for consumed material and technical resources, depreciation rates, the taxation system, etc. Internal factors affect profit through an increase in output, improvement in product quality, an increase in selling prices and a decrease in production and sales costs.

Three methods of profit formation are known: direct, normative and control. Direct method, or direct counting method. This method involves both a global calculation of profit - for the entire volume of output (sales) of products or services, and a local one - for each type of product or assortment group, followed by summation according to the volume of production. A normative method that evaluates the mass of profit by the profitability ratio (indispensable for optimizing the assortment according to the criterion of product profitability). The control, or economic, or analytical (factorial) method, applicable both as a control and as an independent one, is preferable in conditions of inflationary instability, which makes it possible to take into account inflation indices for such factors as selling prices, purchase prices and tariffs for production components, wages, depreciation rates, cost of equipment and other fixed assets.

The formation and distribution of profit is built according to the following scheme:

Profit from the output of products (in wholesale selling prices) = (volume of marketable products) - (cost).

Profit from the sale of products or services (profit from output) ± (profit in carry-over balances of unsold products).

Gross profit, or according to the report - balance sheet profit = (profit from sales) ± (results from other sales) ± (non-operating results).

Estimated profit, or taxable profit = (gross profit) - (rental payments) - (profit not taxed or taxed in a special manner) - (reserve fund of the enterprise).

Net profit \u003d (gross profit) - (profit tax) - (deductions to centralized funds).

The distribution of profits can be viewed in three ways. The profit is distributed between the state, the owners of the enterprise and the enterprise itself. The proportions of this distribution have a significant impact on the efficiency of the enterprise, both positively and negatively.

Fig.3. Profit distribution

The relationship between enterprises and the state regarding profits is built on the basis of taxable profits. It is essential in Russian legislation that income tax is levied on the profit that reflects the results of financial and economic activities and is shown in the financial statements.

The initial basis for calculating taxable profit is gross profit, as an algebraic sum of profit from the sale of products, profit from the sale of property and income from the balance of income and expenses from non-sales operations.

Further, the gross profit is adjusted for the amount of valuables received free of charge, the amount of overspending on limited cost items, the difference between the amount of sales proceeds calculated at market and actual prices.

The remaining part of the profit is distributed between the owners and the enterprise itself, and is also distributed to profit that increases the value of the property.

The distribution of profits for social needs includes the costs of operating social facilities on the balance sheet of the enterprise, financing the construction of non-production facilities, and holding recreational activities.

If the profit is not spent on consumption, then it remains in the enterprise as retained earnings of previous years and increases the size of the enterprise's own capital. The presence of retained earnings increases the financial stability of the enterprise, indicates the presence of a source for subsequent development. At the expense of profit, a whole set of funds of funds is formed. Figure 4 shows two main channels for profit participation in the distribution process.

Fig. 4. Scheme of profit participation in the distribution process

Profit has the following meaning in the activities of enterprises:

reflects the results of entrepreneurial activity in a generalized form and is one of the indicators of its effectiveness;

is used as a stimulating factor for entrepreneurial activity and labor productivity.

The multifaceted nature of profit means that its study must have a systematic approach. This approach involves an analysis of the totality of factors of formation, mutual influence, distribution and use. The generating factors include the proceeds received by the enterprise from various types of entrepreneurial activities, including from the sale of products, which occupy the main share, from the sale of other assets, fixed assets.

An important component of the forming factors is income from equity participation in other enterprises, including subsidiaries, income from securities, gratuitous financial assistance, the balance of fines received and paid. Mutually influencing factors include external, determined by the financial and credit policy of the state, including taxes and tax rates, interest rates on loans, to a certain extent, prices, tariffs and fees, as well as internal ones, including cost, labor productivity, capital productivity, capital-labor ratio, turnover of working capital. funds. Distribution factors consist of mandatory payments to the budget and off-budget funds, to banking and insurance funds, voluntary payments, including charitable funds, and the transfer of profits to funds created by enterprises. Utilization factors refer only to the profits that remain in enterprises and commercial organizations. They include the following areas: consumption, accumulation, social development, capital and financial investments, covering losses and other costs.

Profit characterizes the financial condition of the enterprise. Now there is an ambivalent attitude of enterprises to the regulation of its size. On the one hand, increasing profits is one of the main goals of the enterprise. On the other hand, the greater the profit, the greater the amount of analogues for it. In an effort to reduce payments to the budgets of various levels, some enterprises underestimate their taxable profits, which obviously was one of the reasons for a significant decrease in industrial profits.

An economic entity independently determines the directions for using profits, unless otherwise provided by the Charter.

The reserve fund is created by business entities in case of termination of their activities to cover accounts payable. The reserve fund of a joint-stock company is used to pay interest on bonds and dividends on preferred shares in case of insufficient net profit for these purposes. Its size must be at least 15% of the authorized capital. Every year, the reserve fund is replenished by deductions that make up almost 5% of the profit remaining at the disposal of the enterprise.

Accumulation fund - funds aimed at the production development of the enterprise, technical re-equipment, reconstruction, expansion, development of new products, etc. The accumulation fund shows the growth of the property status of the economic entity, the increase in its own funds.

Consumption fund - funds allocated for the implementation of measures for social development. It consists of two parts: wage fund and payments from the social development fund.

The distribution of profits is made in accordance with the Law on taxes and fees levied to the budget, instructive and methodological instructions of the Ministry of Finance, the Charter of the enterprise.

1.3 Modern methods of profit management

The creation and operation of any enterprise is simply a process of investing financial resources on a long-term basis in order to make a profit.

The development of market relations increases the responsibility and independence of enterprises in the development and adoption of managerial decisions to ensure the efficiency of activities, which is expressed in the achieved financial results.

Profit is the main source of funds for a dynamically developing enterprise. In a market economy, the amount of profit depends on many factors, the main of which is the ratio of income and expenses. At the same time, the current regulatory documents provide for the possibility of a certain regulation of profits by the management of the enterprise. These regulatory procedures include:

variation in the boundary of attributing assets to fixed assets;

accelerated depreciation of fixed assets;

the applied depreciation method for low-value and rapidly wearing items;

the procedure for valuation and amortization of intangible assets;

the procedure for assessing participants' contributions to the authorized capital;

the procedure for accounting for interest on bank loans used to finance capital investments;

the procedure for creating reserves for doubtful debts;

timely write-off of bad debts;

the procedure for attributing certain types of expenses to the cost of goods sold;

the composition of overhead costs and the method of their distribution;

tax reduction through the use of preferential taxation, etc. .

In the process of managing the profit of an enterprise, the main role is given to the formation of profit from the main activity, for the purpose of which it was created.

The process of asset management aimed at increasing profits is characterized in financial management by the category of leverage, i.e. some factor, little change which can lead to a significant change in the resulting indicators.

There are three types of leverage, determined by recomposing and detailing the items of the "Profit and Loss Statement" of the enterprise:

production leverage;

financial leverage;

production and financial leverage.

The logic of such a grouping is as follows: net profit is the difference between revenue and expenses of two types - production and financial. They are not interconnected, but the amount and share of each of them can be controlled.

The amount of net profit depends on many factors. From the position of financial management of the enterprise, it is influenced by:

how rationally the financial resources provided to the enterprise are used;

structure of sources of funds.

The first point is reflected in the structure of fixed and working capital and the efficiency of their use.

The main elements of the cost of production are fixed and variable costs, and the ratio between them can be different and is determined by the technical and technological policy chosen by the enterprise. Changing the cost structure can significantly affect the amount of profit. Investing in fixed assets is accompanied by an increase in fixed costs and, at least theoretically, a decrease in variable costs. However, the dependence is non-linear, so finding the optimal ratio of variable and fixed costs is not easy. This relationship is characterized by the category of production leverage.

So, production leverage is a potential opportunity to influence gross income by changing the cost structure and output volume.

The second point is reflected in the ratio of own and borrowed funds as sources of long-term financing, the feasibility and efficiency of using the latter. The use of borrowed funds is associated with certain, sometimes significant costs for the enterprise. What should be the optimal combination of own and attracted long-term financial resources, how will it affect profit? This relationship is characterized by the category of financial leverage.

Thus, financial leverage is a potential opportunity to influence the profit of an enterprise by changing the volume and structure of long-term liabilities.

The source is the production leverage, which is the relationship between the total revenue of the enterprise, its gross income and production costs. The latter include the total expenses of the enterprise, reduced by the amount of expenses for servicing external debts. Financial leverage characterizes the relationship between net profit and income before interest and taxes, i.e. gross income.

The generalizing criterion is the production and financial leverage, which is characterized by the relationship of three indicators: revenue, production and financial costs and net profit.

The production activity of the enterprise is accompanied by expenses of various types and relative importance. According to the new chart of accounts, there are two options for accounting for the costs of production and sales of products. The first, traditional for domestic practice, provides for the calculation of the cost of production by grouping costs into direct and indirect. The second option, widely used in economically developed countries, involves a different grouping of costs - for variable and conditionally fixed by type of product. The main significance of such an accounting system lies in the high degree of integration of accounting, analysis and management decision-making, which ultimately allows for flexible and prompt decision-making on the normalization of the financial condition of the enterprise.

The analytical representation of the considered model is based on the following basic formula:

where S - sales in value terms (revenue);

VC - variable costs;

FC - semi-fixed costs;

GL - gross income.

Since the analysis is based on the principle of directly proportional dependence of indicators, we have:

where k is the coefficient of proportionality.

Using formula (1), as well as the condition that the sales volume is considered critical, at which the gross income is zero, we have:

Since S in this formula characterizes the critical volume of sales in terms of value, therefore, denoting it Sm, we have:

Formula (3) can be visualized by passing to natural units of measurement. To do this, we introduce the following additional notation:

Q - sales volume in natural terms;

P is the price of a unit of production;

V - variable costs per unit of output;

Qc - critical sales volume in natural units.

Transforming formula (1), we have:

The denominator in formula (5) is the specific marginal income. Thus, the economic meaning of the critical point is extremely simple: it characterizes the number of units of production, the total marginal income of which is equal to the sum of conditionally fixed costs.

Obviously, formula (5) can be easily transformed into a formula for determining the volume of sales in natural units (Qi) that provides a given gross income (GI).

Qi=(FC+GI)/(P-V) (6)

Marginal income is the sum of gross income or gross profit and semi-fixed costs. This category is based on the fact that the complete absorption of all semi-fixed costs provides for the write-off of their full amount to the current results of the enterprise and is equated to one of the directions of profit distribution. In a formalized form, marginal income (Dm) can be represented by two main formulas:

Starting to analyze the impact on profit of individual factors, we transform formula (7) as follows:

To perform analytical calculations of sales profit, sales revenue and the percentage of marginal income in sales revenue (Dm) are often used instead of the total contribution margin (Dm). These three indicators are interconnected:

If we express the amount of marginal income from this formula:

transform formula (9), we get another formula for determining the profit from sales:

GI=S'Dy-FC (12)

Formula (11) is used precisely when it is necessary to calculate the total profit from sales when an enterprise sells several types of products. If the share of marginal income in revenue for each type of product in the total amount of sales revenue is known, then Dy for the total revenue is calculated as a weighted average.

In analytical calculations, another modification of the formula for determining sales profit is used, when the known values ​​are the volume of sales in physical terms and the rate of marginal income in the price per unit of output. Knowing that marginal income can be represented as:

where, Dc is the rate of marginal income in the price of a unit of production, formula (9) will be written as follows:

GI=Q´Dc-FC (14)

Thus, in order to make management decisions in the field of increasing sales profit, it is necessary to take into account the impact of the following changes:

quantities and structure sold; price level; the level of semi-fixed costs.

However, let's return to the assessment of production and financial leverage.

The level of production leverage (Ul) is usually measured by the following indicator:

Upl=TGI/TQ (15)

where TGI is the rate of change in gross income, %;

TQ-rate of change in sales volume in physical terms, %.

By simple transformations of formula (15), it can be reduced to a more plain sight. To do this, we use the above notation and a different representation of formula (1):

P´Q=V´Q+FC+GI or c´Q=FC+GI

Upl= c´Q/GI (16)

The economic meaning of the Upl indicator is simple - it shows the degree of sensitivity of the gross income of the enterprise to changes in the volume of sales. Namely, for an enterprise with high level production leverage, a slight change in sales volume can lead to a significant change in gross income. The higher the level of semi-fixed costs in relation to the level of variable costs, the higher the level of production leverage. Thus, an enterprise that improves its technical level in order to reduce specific variable costs simultaneously increases its level of production leverage.

An enterprise with a higher level of production leverage is considered to be more risky in terms of production risk, i.e. the risk of not receiving gross income. A situation arises when an enterprise cannot cover its production costs.

By analogy with production leverage, the level of financial leverage (Fl) is measured by an indicator characterizing the relative change in net profit with a change in gross income:

UV=TNI/TGI (17)

where, TNI is the rate of change in net profit, %;

TGI is the rate of change in gross income, %.

The coefficient Ufl has a clear interpretation. It shows how many times gross income exceeds taxable income. The lower limit of the coefficient is one. The greater the relative amount of borrowed funds attracted by the enterprise, the greater the amount of interest paid on them, the higher the level of financial leverage. The effect of financial leverage is that the higher its value, the more non-linear the relationship between net profit and gross income becomes - a slight change in gross income in conditions of high financial leverage can lead to a significant change in net profit.

The concept of financial risk is associated with the category of financial leverage. Financial risk is the risk associated with a possible lack of funds to pay interest on debt term loans and borrowings. The increase in financial leverage is accompanied by an increase in the degree of riskiness of this enterprise.

If the enterprise is fully financed by its own funds, then the level of financial leverage is equal to one. In this case, it is customary to say that there is no financial leverage, and the change in net profit is completely determined by the change in gross income, i.e. production conditions. The level of financial leverage increases with an increase in the share of borrowed capital. As noted above, production and financial leverage are summarized under the category of production-financial leverage. its level (Ul), as follows from formulas (15) - (18), can be estimated by the following indicator:

Ul=Upl´Ufl=(c´Q/GI) ´ (GI/GI-In)=c´Q/(GI-In)

Str=c´Q/(GI-In) (18)

Production and financial risks are generalized by the concept of general risk, i.e. the risk associated with a possible lack of funds to cover current expenses and the costs of servicing external sources of funds.

The effectiveness of an enterprise's profit management policy is determined not only by the results of its formation. But also the nature of its distribution, i.e. formation of directions for its future use in accordance with the goals and objectives of the enterprise development.

The nature of the distribution of profits determines many significant aspects of the enterprise, influencing its performance. This influence is manifested in various forms of feedback between the distribution of profit and its formation in the coming period.

So, in conclusion of all of the above, I would like to note that profit is the main driving force of the market economy, the main motive for the activities of entrepreneurs. The high role of profit in the development of the enterprise and ensuring the interests of its owners and staff determine the need for effective and continuous management of it. Profit management, therefore, should be a process of developing and making managerial decisions on all the main aspects of its formation, distribution and use.

Chapter 2

2.1 Organizational and economic characteristics of Trade House "Olimp" branch of OJSC "Lipetskoblgaz"

Trading house "Olimp" - a branch of the Open Joint Stock Company for gasification and operation of the gas facilities of the Lipetsk region "Lipetskoblgaz" is a separate structural unit. The abbreviated name is Trade House Olimp, a branch of OAO Lipetskoblgaz. Location: 398902, Lipetsk, st. Udarnikov, house 100.

Trade House "Olimp" is not a legal entity and operates on the basis of the Regulations in accordance with the current legislation of the Russian Federation, the Charter of OJSC "Lipetskoblgaz" (Appendix 1). Trade House "Olimp" carries out financial and economic activities on behalf of OAO "Lipetskoblgaz", has a seal with its name and name, may have bank accounts by order of the Company.

Trade House "Olimp" in its activities is guided by the current legislation, decrees, orders of the President of the Russian Federation, resolutions, orders of the Government of the Russian Federation, regulations other bodies government controlled, decisions of the open joint stock company "Lipetskoblgaz", the General Director, the Charter of the company and the Regulations on the branch "Lipetskoblgaz". Trade House "Olimp" is responsible for the obligations of the Company, in turn, the Company is responsible for the results of the branch's activities with its property.

The branch is obliged to provide operational information, statistical and accounting reports on its activities, to subdivisions of the executive office of the Company; keep primary accounting and reporting in accordance with the forms established for separate subdivisions of the Company.

The main purpose of the activity of the enterprise in question is to make a profit.

The main activities and functions of the branch:

implementation of wholesale and retail trade and procurement activities of all types of goods,

production and sale of consumer goods and products for industrial purposes,

trade in food and industrial groups of goods,

organization and implementation of public catering of the population,

marketing research of regional markets, etc.

In order to fulfill its tasks and tasks, JSC "Lipetskoblgaz" Trade House "Olimp" carries out financial and economic activities. Production activities are planned and accounted for as part of OAO Lipetskoblgaz.

The organizational structure of the enterprise can be represented in Figure 5.

Fig.5. Organizational structure of management

The supreme governing body of the company is the general meeting of shareholders. The competence of the general meeting of shareholders includes the following issues:

introduction of amendments and additions to the charter of the company or approval of the charter of the company in a new edition;

reorganization of society;

liquidation of the company, appointment of a liquidation commission and approval of interim and final liquidation balance sheets;

determination of the quantitative composition of the board of directors, election of members of the board of directors of the company and early termination of their powers;

election of a sole executive body society;

early termination of powers of the sole body of the company;

election of members of the audit commission of the company and early termination of their powers;

approval of the auditor of the company;

election of members of the counting commission;

early termination of powers of members of the counting commission;

determining the number, nominal value, declared shares and the rights granted by these shares, etc.

The head of Trade House "Olimp" is a director appointed to a position on a contract basis by the General Director of the Company. Its main task is to develop and implement a policy consistent with the main objectives of the Society. The director is also responsible for the organization of accounting in the trading house "Olimp", compliance with the law when performing business operations.

The chief accountant is directly subordinated to the head of the organization, who is responsible for the formation of accounting policies, accounting, timely submission of complete and reliable financial statements.

The chief accountant ensures the compliance of ongoing business operations with the legislation of the Russian Federation, control over the movement of property and the fulfillment of obligations. Its requirements for documenting business transactions and submission to accounting required documents and information are mandatory for all employees of the organization.

The chief accountant of the organization, together with the head of the organization, signs documents that formalize business transactions with cash. Without the signature of the chief accountant or a person authorized by him, monetary and settlement documents, financial and credit obligations are considered invalid and should not be accepted for execution.

The payroll accounting group performs the entire cycle of work on accounting for labor and its payment, draws up relevant reports and exercises control.

The material accounting group takes into account and controls the presence and movement of all types of inventory items, participates in the inventory of these items and draws up reports.

The production cost accounting group keeps records of production costs, calculates the cost of products (works, services), controls and analyzes labor and material costs and prepares reports.

From the indicators in table 1, we can conclude that the company is operating at a loss. This happens for the following reasons:

operating and non-operating expenses exceed income;

very high selling and management costs.

In comparison with 2005, in 2006 the proceeds from sales increased by 16,126,887 rubles, and the cost price also increased by 12,626,210 rubles, which was apparently due to an increase in the company's sales volumes. But non-operating income and expenses appeared, and expenses significantly exceeded income. Thus, this also negatively affects the activities of the enterprise, and, as a result, the enterprise receives a loss equal to 191,616 rubles.

In 2007, the activity of the enterprise also turned out to be unprofitable. There was also an increase in both sales revenue and cost. However, the increase in sales volumes is not sufficient to cover losses from other activities of the enterprise, so in 2007 a net loss of 1,590,123 rubles was received.

Negative profit values ​​indicate that Olimp Trade House is experiencing severe financial difficulties, and it can be declared bankrupt.

2.2 Analysis of the profit and profitability of the enterprise

Profit is the final financial result of the enterprise. In a market economy, the results of activities are evaluated by a system of indicators, the main among which is profitability, defined as the ratio of profit to one of the indicators of the functioning of a trading enterprise. When calculating profitability, different indicators of profit can be used. This allows you to identify not only the overall economic efficiency of the enterprise, but also evaluate other aspects of its activities.

One of the most important components of financial analysis is the analysis of profit formation, which is in direct connection with the procedure for its formation.

To analyze the profit of the enterprise, we use the data in table 2.

Table 2 Data for the analysis of profit from sales

The change in the amount of profit, as noted earlier, is mainly influenced by three factors: a change in the volume of sales of products, a change in the structure and range of products, as well as a change in the level of costs per 1 ruble of sold products.

Thus:

∆P=∆P1+∆P2+∆P3, (19)

where ∆P1 - change in profit from sales due to changes in the volume of products sold;

∆P2 - change in profit from sales due to changes in the structure and range of products sold;

∆P3 - change in profit from sales due to changes in the level of costs per one ruble of sold products.

∆P1=Po(k1-1) (20)

where To - profit in 2005, 2006;

k1 - coefficient of growth in sales of products, calculated at full cost.

where, C1, Co - the total cost of goods sold for 2006, 2007

∆P1(2006)=10001362*(47927986/35101776-1)= 3675613 rub.

∆P1(2007)= 13302039*(56545690/47927986-1)= 2197597 thousand rubles

∆P2=Po´ (k2-k1), (22)

where k2 is the growth rate of sold products calculated in wholesale prices.

k2=В1/Во, (23)

where В1, Вo - proceeds from the sale of products for 2006, 2007.

∆P2(2006)=10001362´(61230025/45103138-47927986/35101776)=-100013 rub.

∆P2(2007)=13302039´(72008914/61230025-56545690/47927986)=-50094 rub.

∆П3=В1´(Сo/Во-С1/В1), (24)

∆P3(2006)=6130025´(35101776/45103138-47927986/61230025)= -274923 rub

∆P3(2007)= 72008914´(47927986/61230025-56545690/72008914)= 13682 rub.

The results of the factor analysis are summarized in Table 3.

Table 3 Summary of Profit Analysis Results

As a result of a change in the volume of sales of products, the amount of profit increased in 2006 by 3,675,613 rubles, the situation did not change with a change in the structure and range of products sold, the profit decreased by 10,013 rubles, and due to a change in the level of costs by 1 ruble of sold products, the profit of the enterprise decreased by 274923 rubles. In general, under the influence of these factors, the profit from the sale of products increased in 2006. for 3300677 rubles.

Thus, analyzing the table, we can conclude that in 2007, compared to 2006, the influence of all three factors on profit from product sales changed:

sales volume by 102%;

structure and range of products sold by (-2.3)%;

costs per 1 ruble of sold products by - 0.3%.

Profit is the final financial result of the enterprise. In a market economy, the results of activities are evaluated by a system of indicators, the main among which is profitability, defined as the ratio of profit to one of the indicators of the functioning of a trading enterprise. When calculating profitability, different indicators of profit can be used. This allows you to identify not only the overall economic efficiency of the enterprise, but also evaluate other aspects of its activities.

To make managerial decisions, a structured system of indicators is usually used, focused on a specific goal. The system of indicators allows avoiding the danger of one-sided and incomplete reflection of the enterprise's activities, since individual indicators have limited informational value, which can lead to their inadequate interpretation. The scorecard is especially important when it is necessary to take into account several goals and establish relationships between the elements of the system. At the same time, it must be emphasized that an unreasonably large number of indicators overloads the materials of an analytical study and, moreover, leads away from the purpose of the analysis.

The composition of the system of indicators to a certain extent depends on the type of analysis being carried out. It is customary to distinguish two types of financial analysis: internal and external. External financial analysis is carried out by independent analysts and is mainly based on publicly available information, so it is less detailed and more formalized. The information base of internal analysis is much wider, and the possibilities of the analysis itself are expanding accordingly.

Regardless of the type of analysis being carried out, the system of indicators cannot be rigidly set once and for all; moreover, it must be constantly adjusted both in form and in substance.

The profitability indicator reflects the ratio of the profit of the enterprise and the factors that are, in fact, the prerequisites for its occurrence. Accounting reports allow you to calculate a large number of profitability indicators, so they need to be systematized into analytical groups in order to streamline and ensure optimality in the implementation of analytical procedures (Fig. 6).

Rice. 6. Main indicators of profitability of trading enterprises

Possible combinations of profit with factors influencing it result in a set of profitability indicators that differ not only in terms of the tasks and content being solved, but also in terms of the profit indicators used in its calculation. As the last in domestic practice traditionally used indicators of balance sheet profit, profit from the sale of goods and net profit.

The choice of the necessary profitability indicators is determined by the extent to which they together represent not just a set, but a system built on certain principles: individual indicators do not duplicate each other, but do not leave “white spots”; do not contradict each other, but complement each other. And for this, it is important to correctly assess the analytical capabilities of each indicator of profitability and determine its value in the system.

The profitability of turnover (sales) reflects the relationship between profit and turnover and shows the amount of profit received per unit of goods sold. The higher the profit, the higher the profitability of trade.

Table 4 provides information for the analysis of profitability indicators of the enterprise.

Table 4 Calculation and evaluation of profitability of sales volume

As can be seen from table 4, the profitability of sales for 2005-2006. and 2006-2007 decreased by 0.45 or 98% and 0.25 points or 98%, respectively. A decrease in this indicator indicates a decrease in the competitiveness of the enterprise, as it suggests a decrease in demand for its products.

Change in the profitability of sales volume due to changes in the selling price (∆Рvn (∆price)):

∆Pvn(2006)(∆prices)=(Vp1-So)/Vp1-(Vpo-So)/Vpo=(61230025-35101776)/61230025 - (45103138 – 35101776)/45103138 = 0.205 or 20.5%.

∆Рvn(2007)(∆prices)=(72008914-47927986)/72008914-(61230025-47927986)/61230025 = 0.1172 or 11.72%.

Change in the profitability of sales volume due to an increase in the cost of sales (∆Рvn(∆S)):

∆Pvn(2006)(∆S)=(Vp1-S1)/Vp1-(Vp1-So)/Vp1=(61230025-47927986)/61230025-(61230025-31501776)/61230025=-0.2095 or-20, 95%.

∆Pvn(2007)(∆S)=(72008914-56545690)/72008914-(72008914-47927986)/72008914 =-0.1197 or – 11.97%.

Let's check the compliance of the general application with the profitability of sales and the totality of the influence of factors:

∆Pvn(2006)= ∆Pvn(∆prices)+ ∆Pvn(∆S);

0.45= 20.5-20.95

∆Pvn(2007)= ∆Pvn(∆prices)+ ∆Pvn(∆S);

0.25=11.72-11.97

Thus, the most common indicator of profitability expresses the dependence of profit and sales volume of the enterprise. The purpose of its calculation is to determine the size of the return that the organization has achieved from each monetary unit of turnover. However, the analytical capabilities of this indicator are quite limited due to its fairly wide range depending on the scope of the organization. This is explained by the difference in the scale of activities, in the amount of invested capital, in the rate of turnover of funds, in terms of lending, in the size of stocks, etc. Therefore, it is desirable to use this profitability indicator in conjunction with others, which is why it can be called insufficient, but necessary ( initial) criterion in assessing the profitability of a trade organization.

The return on equity ratio allows investors to assess the potential return on investing in stocks and other securities. Based on the indicator, it is possible to determine the period (number of years) during which the funds invested in a trading enterprise are fully paid off. Return on equity is calculated as the ratio of net profit to equity.

The return on assets is calculated as the ratio of balance sheet profit to the total amount of assets, this indicator is used as the main (generalizing) one and allows you to evaluate the effectiveness of total investments by financial sources, regardless of the comparative size of the sources of these funds.

The profitability of the production assets of a trading enterprise is determined by the ratio of the amount (gross, net) and average cost fixed and material working capital, multiplied by 100.

Along with indicators of sales volume, capital, fixed and working capital, other indicators are also used to calculate the level of profitability (coefficients): production and distribution costs, headcount, each of which emphasizes a certain aspect of the enterprise's performance.

The level of profitability, calculated as the ratio of the amount of profit from the sale of goods to the amount of production and distribution costs, shows the effectiveness of current costs. An increase or decrease in distribution costs directly affects the decrease or increase in profits. This profitability ratio measures the effectiveness of a product deal.

Profitability, calculated in relation to the number of employees employed at the enterprise, characterizes the efficiency of the use of labor and shows the amount of profit received per employee (the ratio of balance sheet profit to the average number of employees) .

2.3 Analysis of proceeds from sales of products and net profit of the enterprise

Proceeds from the sale of products is one of the sources of formation of the gross income of the enterprise. The income of the enterprise is its financial base, which provides the solution of three most important tasks:

ensuring self-sufficiency of the current economic activity of the enterprise. The main part of the enterprise's income is a source of compensation for all current costs associated with the implementation of its economic activities;

ensuring the fulfillment of financial obligations of the enterprise to the state. Part of the enterprise's income is a source of various tax payments to the state and local budgets and mandatory contributions to state off-budget funds;

ensuring self-financing of the enterprise development. Part of the enterprise's income is a source of its profit formation, due to which production development funds are formed, additional material incentives for employees, social payments, payments to the owners of the enterprise.

Proceeds from the sale of products means the completion of the production cycle of enterprises, a certain stage of the circulation of funds, the return of the enterprise's funds advanced for production into cash and the beginning of a new round of working capital. It characterizes the reproduction process of the enterprise in quantitative and qualitative terms. On the quantitative side, an idea is given of the volume of production in physical and monetary terms. The qualitative side is manifested in the consumer properties of products and services, as they find their consumers.

The proceeds from the sale of products is 90% of all income in production. It is the main source of cost recovery for the production and marketing of products and is used by the enterprise for:

payment of supplier invoices for material assets;

payment of wages to workers and employees;

creating a depreciation fund;

creation of economic incentive funds;

contribution of payments to the budget (tax on turnover, payment for production assets, fixed payments, free balance of profit);

payment of interest on a loan;

repayment of a bank loan, etc. .

To analyze the proceeds from the sale of the company's products, we use the data in Table 5.

Table 5 Analysis of proceeds from product sales

Analyzing the data in Table 5 and Figure 7, we draw the following conclusions on sales proceeds. Total sales revenue compared to previous year increased by 10778889 rubles.

Rice. 7. Dynamics of changes in proceeds from the sale of Trade House "Olimp" for 2006-2007, rub.

To make managerial decisions, a structured system of indicators is usually used, focused on a specific goal. The system of indicators allows avoiding the danger of one-sided and incomplete reflection of the enterprise's activities, since individual indicators have limited informational value, which can lead to their inadequate interpretation. The scorecard is especially important when it is necessary to take into account several goals and establish relationships between the elements of the system. At the same time, it must be emphasized that an unreasonably large number of indicators overloads the materials of an analytical study and, moreover, leads away from the purpose of the analysis.

The composition of the system of indicators to a certain extent depends on the type of analysis being carried out. It is customary to distinguish two types of financial analysis: internal and external. External financial analysis is carried out by independent analysts and is mainly based on publicly available information, so it is less detailed and more formalized. The information base of internal analysis is much wider; accordingly, the possibilities of the analysis itself are expanding.

Regardless of the type of analysis being carried out, the system of indicators cannot be rigidly set once and for all; moreover, it must be constantly adjusted both in form and in substance. One of the most important components of financial analysis is the analysis of profit formation, which is in direct connection with the procedure for its formation.

With the help of profit analysis, development trends are studied, factors of change in performance are studied in depth and systematically, plans and management decisions are substantiated, their implementation is monitored, the performance of the enterprise is evaluated, an economic strategy for its development is developed, and reserves for improving performance are identified. The search for reserves to increase profits and profitability is one of the main tasks for the enterprise, and in order to search for them, it is advisable to analyze the profit of the enterprise at the beginning and, based on the analysis, carry out work.

In the process of analyzing the results of the work of trade enterprises, they study various types of profit:

gross profit;

profit (loss) from the sale;

profit (loss) before taxation;

net profit (loss) of the reporting period.

Gross profit is defined as the difference between the proceeds from the sale of goods, works, services (excluding VAT and other similar payments) and the cost of selling goods, works, services - in trade, this is the purchase price of goods sold.

Profit (loss) from the sale is the gross profit of a trading enterprise minus selling and administrative expenses of this enterprise.

Profit (loss) before taxation is formed from profit (loss) from sale, interest receivable from participation in other organizations, other operating and non-operating income reduced by the amount of interest payable, other operating and non-operating expenses of the enterprise.

Net profit (loss) of the reporting period is formed as the amount of profit (loss) before tax increased by the amount of mandatory tax assets and reduced by the amount of tax liabilities and current income tax. Thus, the state is interested in increasing profits (the amount of taxes increases with a well-thought-out, sparing taxation system), the enterprise and the labor collective, thereby creating a financial basis for reconciling their economic interests, stimulating the rational use of resources, and increasing the efficiency of enterprises.

The main directions for the use of the profit remaining at the disposal of the enterprise are determined by its constituent documents or the decision of the founders, which must indicate which funds and in what amounts are created at the enterprise at the expense of net profit and for what purposes they are directed. A schematic diagram of the distribution of profit remaining at the disposal of the enterprise is shown in Figure 8.

Rice. 8. Schematic diagram of the use of profits remaining at the disposal of a commercial enterprise

The reserve fund is designed to ensure financial stability during a period of temporary deterioration in production and financial performance. It also serves to compensate for a number of monetary costs that arise in the process of production and consumption of products.

The consumption fund consists of two parts: the payroll fund and payments from the social development fund. The wage fund is a source of remuneration for work, any kind of remuneration and incentives for employees of the enterprise. Payments from the social development fund are spent on recreational activities, partial repayment of loans for a cooperative, individual housing construction, interest-free loans to young families and other purposes provided for by measures for the social development of labor collectives.

The profit remaining at the disposal of the enterprise (net profit) can be calculated by the formula:

PE \u003d VP - NP, (25)

where PE is the net profit of the enterprise, rub.;

VP - gross profit, rub.;

NP - income tax, rub.

Table 6 Analysis of the net profit of the enterprise

Analyzing the data for 2005-2007, we come to the conclusion that the company is operating at a loss, with each subsequent year the loss increases. The main reason is the very high management and other expenses that “eat up” the positive gross profit.

Fig.9. Dynamics of net profit (loss) of TH "Olimp" for 2005-2007

The amount of profit depends on the volume of demand for goods and their supply. The result of the ratio of supply and demand in the market are retail prices. And since the company does not receive net profit, then, accordingly, it is not able to create any of the funds at the expense of net profit.

After the analysis of the profit management of the enterprise TH "Olimp" we will determine the main directions for improving its management.

3.1 Ways to increase the profitability of the enterprise

One of the ways to improve profit management is the implementation of measures to increase the profitability of the enterprise.

The main ways to increase the profitability of sales volume are:

cost reduction per unit or 1 ruble of works, services;

improving the use of material resources that form the cost (decrease in capital intensity, material intensity, wage intensity, depreciation intensity of products or an increase in their opposite indicators of capital productivity, material productivity);

growth in the volume of economic activity;

increase in prices for services rendered, work performed.

Ways to increase the profitability of funds:

with low profitability of sales, it is necessary to strive to accelerate the turnover of assets and its elements;

the low business activity of the enterprise can only be compensated by lower costs or higher prices for products, that is, an increase in the profitability of sales.

To achieve a high level of return on equity, an enterprise must strive to reduce the financial dependency ratio, increase the profitability of sales and accelerate the turnover of funds.

After evaluating the financial and economic mechanism of profitability management at the enterprise, we will compile a final table of factors and tools that the enterprise used to increase profitability.

Table 7 Factors and tools used to increase profitability in TH "Olimp" in 2005-2007

Table 8 Factors necessary to increase profitability in TD "Olimp"

Let's make a table of measures to increase profitability (table 9).

Since in all formulas of profitability indicators the numerator contains profit, an increase in the profit of the enterprise will lead to an increase in its profitability.

Table 9 Measures to increase profitability at the enterprise

The block diagram for calculating reserves for increasing profits from product sales can be seen in Figure 10.

Rice. 10. Block diagram for calculating reserves for increasing profits from product sales

Reserves for profit growth are quantitatively measurable opportunities for its increase due to the growth in the volume of sales of products, reducing the costs of its production and sale, preventing non-operating losses, improving the structure of products. Reserves are identified at the planning stage and in the process of implementing plans.

The main sources of their increase in profits are an increase in the volume of sales of products, a decrease in their cost, an increase in the quality of marketable products, their sale in more profitable markets, etc.

The increase in profits as a result of production activities enables the enterprise to earn funds for production and social development, material incentives, and this becomes a function of the enterprise itself. At the same time, the growth of profits at the enterprise also means an increase in deductions to the state budget. To increase the amount of profit received from the sale of products, maintaining the existing long-term economic ties is of no small importance.

In order to increase the volume of profit from other sales, it is necessary to regularly conduct an inventory of stocks and equipment in order to identify surpluses.

The reserve for profit growth is also the observance of the planned structure of manufactured products and the elimination of losses from other sales and non-sales operations.

One of the ways to increase the profitability of business entities is the accurate and timely fulfillment of contractual obligations for the supply of products. Departure from them is a guarantee of losses.

Reducing the cost of production is the most important factor profit growth. The reduction in the cost of production most fully reflects the savings in material, labor and financial resources available to the enterprise. The maximum mobilization of reserves to reduce the cost of production is an important condition for the effective functioning of the enterprise.

Reducing the cost of production is a complex and difficult process that requires the daily struggle of enterprise teams to save every unit of fuel and metal, electricity and wood, for the efficient use of machine tools and technological lines. The introduction of an anti-cost mechanism for the activities of enterprises involves, first of all, strengthening the fight against unproductive and irrational costs, the search for more economical solutions, and the identification of reserves to reduce the costs of production and marketing of products.

The mobilization of reserves to reduce the cost of production contributes to the introduction of progressive norms for the consumption of material resources, the widespread use of secondary raw materials in the production, and the elimination of all kinds of losses and unproductive expenses.

The main directions of the work of the teams of enterprises to reduce the costs of the work performed are: increasing labor productivity, introducing advanced equipment and technology, better use of equipment, cheaper procurement and better use of labor items, reducing administrative and management and other overhead costs, reducing marriage and eliminating unproductive costs and losses.

Increasing the technical level of the enterprise helps to reduce costs. First of all, this is the introduction of a new, progressive technology, mechanization and automation of production processes; improving the use and application of new types of raw materials and materials; design changes and specifications products; other factors that increase the technical level of production.

Cost reduction can occur when creating automated systems management, use of computers, improvement and modernization of existing equipment and technology. Costs are also reduced as a result of the integrated use of raw materials, the use of economical substitutes, and the full use of waste in production. A large reserve is fraught with the improvement of products, reducing their material consumption and labor intensity, reducing the weight of machinery and equipment, reducing overall dimensions, etc.

Another important way to reduce costs is to improve the organization of production and labor. Cost reduction can occur as a result of changes in the organization of production, forms and methods of labor with the development of production specialization; improvement of production management and cost reduction; improving the use of fixed assets; improvement of material and technical supply; reduction of transport costs; other factors that increase the level of organization of production.

With the simultaneous improvement of technology and the organization of production, it is necessary to establish the savings for each factor separately and include them in the appropriate groups.

A significant reduction in the cost of living labor can occur with an increase in standards and service areas, a reduction in the loss of working time, and a decrease in the number of workers who do not fulfill production standards. Additional savings arise from the improvement of the management structure of the enterprise as a whole. It is expressed in the reduction of management costs and in the savings in wages and accruals on it in connection with the release of managerial personnel.

The improvement of material and technical supply and the use of material resources is reflected in a reduction in the consumption rates of raw materials and materials, a reduction in their cost by reducing procurement and storage costs. Transportation costs are reduced as a result of a decrease in the cost of delivering raw materials and materials from the supplier to the enterprise's warehouses, from factory warehouses to places of consumption; reducing the cost of transporting finished products.

To a large extent, the amount of profit received depends on how rationally and economically material resources are spent in production. A decrease in the value of total material costs per unit of production ensures a reduction in its cost, in which the share of material costs is very significant. Reducing material costs increases profits. One of the directions that helps to reduce material costs is the introduction of effective substitutes for raw materials, materials and fuel in order to save scarce resources and reduce the cost of manufactured products without compromising its quality. One of the reserves for increasing the profits of industrial enterprises is more full use secondary resources and by-products.

The reserve for increasing the profits of business entities is: the elimination of unproductive wage payments, payment for all-day downtime and hours of intra-shift downtime, additional payments for work overtime; reduction of losses from marriage, damage to materials and products; elimination of unproductive expenses and losses as part of the cost of servicing production units and management.

The renewal of fixed assets has a significant impact on increasing the profits of industrial products. Technical re-equipment of production improves the economic performance of the enterprise. However, the introduction of new facilities in many cases causes an increase in the cost of production. One of the reasons for this situation is the rise in the cost of a unit of input capacity.

The basis for increasing profits is the introduction of the achievements of scientific and technological progress into production. It is scientific and technological progress and its resource-saving nature that provide a sharp turn towards intensification.

The reserve for gross profit growth is the increase in income received from securities owned by the enterprise. When investing money in securities, certain requirements must be met. Thus, when business entities purchase securities from an issuer, it is necessary to know its financial and economic position and development prospects well.

Possible loss of profit can be prevented by regularly planning, implementing progressive wages, monitoring the rationing of the costs of material, fuel and energy resources and living labor, as well as rationally using the loading of equipment and space, improving accounting for material and labor resources to conduct business analysis. Profit growth is to a certain extent influenced by the level of education and the number of financial employees of the enterprise.

The most important ways to strengthen finances and the tasks of the financial service of TD "Olimp" are as follows:

development of a strategic financial policy and ways of its implementation;

systematic and continuous financial analysis, continuous assessment of the financial condition of the enterprise, determination on this basis of tactics for the implementation of strategic goals, taking into account the current situation;

development and implementation of financial, credit and cash plans, a financial recovery plan (if necessary), planning cash flows, development of other plans; use of budgeting in annual planning;

management of the financial cycle based on the optimization of the time of circulation of stocks, receivables and payables, ensuring the acceleration of the turnover of funds in accordance with their circulation as a factor in increasing the profitability of own funds;

improving the organization of working capital, their rationing, bringing stocks in line with their standards, increasing the efficiency of their use;

managing receivables to optimize their size and sales volume and reduce bad debts;

implementation of measures for the efficient use of production assets and the creation of an appropriate structure of the property of the enterprise in order to ensure a satisfactory balance structure;

directions in the field of increasing profits and ensuring profitability, development and implementation of a plan to increase profitability, increase profits.

In this regard, the responsibilities of the financial service of the enterprise include: mobilization of funds for industrial and social development, ensuring profit growth, increasing profitability; organization of non-cash payments: issuance of payment documents and payment of those received; fulfillment of financial obligations to the budget, banks, suppliers, payment of wages and other obligations arising from the financial plan; organization of intra-corporate financial relations; analytical work at the enterprise: financial, marginal and other types of analysis; control over the correct use of the company's funds.

3.2 Using financial and operational leverage to maximize profits

In table 10, we will calculate the impact of the force of the operating lever.

Table 10 Calculation of the impact of the force of the operating lever

Operating leverage decreased by 3.5. The impact force of the operating lever was 0.1. This indicates that the company is not effectively managing its costs.

Let's consider two options for calculating profitability, the only difference between them is the unequal structure of the company's balance sheet liability.

Suppose the company will not pay income tax (it will involve funds in economic turnover). Then, according to option No. 1, the enterprise will receive 12 thousand rubles. profits solely through the use of equity, which covers the assets of the balance sheet. The return on equity (Rsk) according to option No. 1 is 20 (12 / 60 × 100), i.e., it coincides with the return on its assets. Option number 2 - from the same amount of profit (12 thousand rubles), the company must pay interest on debt to the bank. Assuming that the average interest rate for a loan (SP) is 15%, these financial costs of debt amount to 4.5 thousand rubles. (30 thousand rubles * 15%). 7.5 thousand rubles remain for reimbursement of other expenses. (12.0-4.5). Then Rsk will be equal to 25% (7.5 8 30.0 * 100).

Table 11 Initial data for calculating the predicted return on equity for two options

Therefore, with the same return on assets of 20%, there are differences in the return on equity, resulting from a different structure of the balance sheet liability. This difference of 5% (25-20) represents the effect of financial leverage (EFF). The effect of financial leverage is an increment to the return on equity obtained through the use of a loan, despite its payment.

So, for an enterprise according to option No. 2, one part of the balance sheet asset, which brings a 20% return, is covered by sources of funds that cost it 15%. This increases the return on equity. We are talking about equity capital, the use of which is not associated with financial costs of debt, but with entrepreneurial risk.

It follows from the data obtained that the enterprise under option No. 2 has a return on equity by 3.8% (19.0 - 15.2) higher than under option No. 1, due to a different structure of the balance sheet liabilities.

Table 12 Calculation of return on equity, taking into account the payment of income tax

the enterprise according to option No. 1, using only its own capital, limits its profitability to 76% of the return on assets. Then

Rsk1 \u003d 0.76 H Ra,

where Rsk - return on equity;

Ra - return on assets.

the enterprise according to option No. 2, attracting a loan, increases (lowers) the return on equity based on the ratio between equity and borrowed capital in the balance sheet liabilities and the average interest rate for a loan (SP). Then the EFR arises:

Rsk2 \u003d 0.76 * Ra + EGF.

EGF \u003d (1-0.24) * (20-15) * 30/30 \u003d 3.8%.

If the enterprise under option No. 2 manages to bring the debt ratio to three (90/30) instead of one (30/30), then the estimated interest rate for a loan (JV) may increase to 18% (instead of the previous 15%). Then the EFR will be equal to:

EGF \u003d (1 - 0.24) * (20 -18) * 3 \u003d 4.56%.

Therefore, a new loan agreement for the enterprise according to option No. 2 can be considered preferable. In this case, the EGF will increase due to the reliance on the tripled debt ratio, despite the reduction in the differential to 2% (20 - 18) instead of the previous 5% (20 - 15). A decrease in the differential indicates an increase in the risk of the bank's loan portfolio.

From the above reasoning, the following conclusions can be drawn:

If a new borrowing brings an increase in the level of EGF to an enterprise, then it is beneficial for it.

At the same time, it is necessary to monitor the state of the differential: with an increase in the debt ratio, the bank is forced to compensate for the increase in credit risk by increasing the “price” of borrowed funds.

The lender's risk is expressed by the value of the differential: the higher this parameter, the lower the bank's credit risk, and vice versa.

The enterprise according to option No. 2 with the EGF - 4.56% and the differential - 2% (20 - 18) with an increase in the cost of a loan by one point (SP = 19%) will be forced to increase the debt ratio to six in order to maintain the previous EGF:

EGF \u003d (1 - 0.24) * (20 - 19) * 6 \u003d 4.56%.

In this case, the debt ratio increased by 2 times (6 / 3).

Such a ratio between borrowed and equity capital is unjustified, since there may come a time when the differential becomes less than zero. Then the EFR will act to the detriment of the enterprise.

With a nine-fold ratio between borrowed and equity capital, the company will have to pay the bank an increased interest rate (say 22%). Then:

EGF \u003d (1 - 0.24) * (20 - 22) * 9 \u003d -13.68%.

Now it will not be an increase, but a deduction from the return on equity. Its value under option No. 2 will decrease to 5.32% compared to 15.2% under option No. 1, where borrowed funds were not involved.

Hence the conclusion follows: a cautious CFO will not increase the debt ratio at any cost, but will regulate it based on the magnitude of the differential. He is well aware that the future of the corporation depends on its current financial situation. Even if today the ratio between borrowed and own funds is favorable for the enterprise, this does not mean that you can not worry about the forecast level of return on assets and the bank interest rate and, therefore, about maintaining the value of the differential.

3.3 Recommendations for factor analysis and the formation of profit from sales and the assessment of financial strength

The profitability threshold by 2007 increased by 5,356,210 rubles, or 18%. The margin of financial strength also grew by 8,617,703 rubles. or 18%.

Ensuring effective profit management of the enterprise determines a number of requirements for this process, the main of which are:

Integration with the overall enterprise management system. In whatever area of ​​the enterprise's activity a management decision is made, it directly or indirectly affects profit. Profit management is directly related to various types of functional management. This determines the need for organic integration of the profit management system with the overall enterprise management system.

Table 13 Calculation of the impact of the force of the operating lever

Indicator	Symbol	years		Deviation(+,-)	Growth rate, (%)
		2006	2007
Sales revenue, rub.	N	61230025	72008914	16126887	136
Cost of sold goods, products, works, services, rub.	Spr	47927986	56545690	12626210	137
Semi-fixed expenses, rub.	Spost	5996969	7068211	1071242	118
Marginal income, rub. (clause 1-clause 2)	Dm	13302039	15463225	2161185	116
Share of marginal income in sales proceeds (item 4/item 1)	dmd	0.2	0.2	-	-
6. Threshold of profitability, rub. (clause 3/clause 5)	N Kp	29984845	35341055	5356210	118
7. Margin of financial strength, rub. (clause 1-clause 4)	ZFP	47927986	56545689	8617703	118
8. Profit from sales, rub.	PN	795307	1168826	1877907	173
9. Operating lever	MD/R	16,7	13,2	-3,5	79
10. Force of influence of the operating lever, coefficient	∆Р/∆N	X	0,1	X	X

The complex nature of the formation of management decisions. All management decisions in the field of formation and use of profit are closely interconnected and have a direct or indirect impact on the final results of profit management. Therefore, profit management should be considered as a complex system of actions that ensures the development of interdependent management decisions, each of which contributes to the effectiveness of the formation and use of profit for the enterprise as a whole.

High control dynamism. Even the most effective management decisions in the field of formation and use of profits, developed and implemented at the enterprise in the previous period, cannot always be reused at subsequent stages of its activity. Therefore, the profit management system should be characterized by high dynamism, taking into account changes in environmental factors, resource potential, forms of organization and management of production, financial condition and other parameters of the enterprise.

Multivariance of approaches to the development of individual management decisions. The implementation of this requirement implies that the preparation of each management decision in the field of formation, distribution and use of profits should take into account alternative possibilities of action. If there are alternative projects of management decisions, their choice for implementation should be based on a system of criteria that determine the profit management policy of the enterprise. The system of such criteria is established by the enterprise itself.

Orientation to the strategic goals of the enterprise development. No matter how profitable these or those projects of management decisions may seem in the current period, they should be rejected if they conflict with the mission (main goal of the activity) of the enterprise, the strategic directions of its development, undermine the economic basis for the formation of high profits in the coming period.

Profit as one of the most complex economic categories is due to the creation of a surplus product and the commodity-money form of expanded reproduction. It acts as one of the monetary forms of realization of the surplus product and is used as the most important instrument of state regulation of the activities of business entities (primarily through the mechanism of taxation). The calculation of the taxable object is closely related to the procedure for generating profit.

The rational use of costs for the production of products is one of the determining conditions for a sound economic policy. Other factors regulating the economic state of production are subordinate to it. However, the current law on income tax, which is 24%, not only does not allow to fully ensure the rational use of costs for the production of marketable products, but also to a certain extent deprives the manufacturer of incentives to improve work. Under the law on income tax, the increase in the cost of obtaining gross income does not bother entrepreneurs, except that the psychological pressure is reduced (they pay less taxes). This means that the income tax law leads to wasteful use of costs. It is possible to introduce a law on tax on costs, that is, a fundamental change in the tax base - transferring it from profit, will lead to cost savings, and therefore to an increase in gross income, which will contribute to the introduction of scientific and technological achievements, the rational use of costs, and enterprises to receive additional income. However, the creation of an economic field for the operation of the law on tax on costs is a very delicate, painstaking, rather controversial process, during which all the nuances must be taken into account.

Another issue of the formation of a high level of profit is the question of the incentive motive for high profit in the activities of the hired managers of the enterprise and the rest of its personnel, despite the fact that for the owners of the enterprise, obtaining such a level of profit is a completely obvious motive for entrepreneurial activity. For managers who are not the owners of the enterprise they manage, profit is the main measure of the success of their activities.

AT last years in practice, new, progressive forms of integration of the profit management system with a common management system within the framework of a single organizational structure of the enterprise are used, in which the decisive role is given to building a system of organizational support for profit management. Such a system is based on the concept of allocation within the organizational structure of the enterprise of the so-called "responsibility centers".

The responsibility center is a structural subdivision of an enterprise that fully controls certain aspects of the formation and use of profits, and its head independently makes management decisions within these aspects and is fully responsible for the implementation of the planned indicators brought to him.

The difference in the functional orientation of the activities of such structural units, their place in the organizational structure of management, as well as the breadth of authority of their leaders, make it possible to single out a number of specific types of responsibility centers within the enterprise.

The cost center is a structural unit, the head of which is responsible only for spending funds in accordance with the budget brought to him. Due to the functional orientation of its activities, such a structural unit cannot independently influence the volume of income, and, accordingly, the amount of profit.

The income center is a structural unit, the head of which is responsible only for the formation of income in the established volumes. Due to the functional orientation of its activities, such a unit cannot independently influence the entire volume of costs for products sold, and, accordingly, the amount of profit.

Profit center - a structural unit of the enterprise, the head of which is responsible for the tasks brought to him for the formation of profit. Due to the functional orientation of its activities, such a subdivision fully controls both the formation of income from the sale of products and the volume of costs for its manufacture.

Investment center - a structural subdivision of the enterprise, the head of which is responsible for the use of investment resources allocated to him and obtaining the necessary profit from investment activities. The main control indicator in this case is usually the level of return on invested capital.

Building a system of organizational support for profit management by creating responsibility centers of various types depends on many factors - the volume of the enterprise, the versatility of this activity, the number of personnel, the organizational structure of production, and others. Therefore, determining the number and composition of responsibility centers requires an individual study for each enterprise.

In the process of analyzing the profit of the enterprise for the reporting period, it is advisable to determine the following indicators:

deviation of actual profit from the planned one, that is, the amount of excess profit or the amount of lost profit;

determine the degree of fulfillment of the profit plan, as the ratio of the actual amount of profit to the planned one;

determine the actual level of profitability in relation to the sales proceeds and establish its deviation from the planned level;

study profitability and profit dynamics.

The volume of sales of products can have a positive and negative impact on the amount of profit. An increase in sales of cost-effective products leads to a proportional increase in profits. If the product is unprofitable, then with an increase in the volume of sales, a decrease in the amount of profit occurs.

The structure of products can have both a positive and a negative impact on the amount of profit. If the share of more profitable types of products in the total volume of its sales increases, then the amount of profit will increase, and, conversely, with an increase in the share of low-profit or unprofitable products, the total amount of profit will decrease.

The cost of production and profit are inversely proportional: a decrease in cost leads to a corresponding increase in the amount of profit and vice versa.

The change in the level of average selling prices and the amount of profit are directly proportional: with an increase in the price level, the amount of profit increases and vice versa. Then it is necessary to evaluate the reasons for the change in indicators. The composition of non-operating income and expenses is especially carefully studied.

Other income (losses) includes the balance of received and paid fines, penalties, forfeits and other types of sanctions (except for sanctions paid to the budget and a number of off-budget funds in accordance with the law), which are associated with the economic liability of the enterprise in case of violation of contractual obligations. Other expenses and losses are also assessed in detail, namely:

losses on operations of previous years, identified in the reporting year, from the markdown of goods, from the write-off of uncollectible receivables;

shortage of material assets identified during the inventory;

costs for the maintenance of mothballed facilities;

negative exchange rate differences on foreign currency accounts and operations in foreign currency;

uncompensated losses from natural disasters, taking into account the costs of preventing or eliminating natural disasters (less the cost of received scrap metal, other materials);

court costs and arbitration fees and more.

In conclusion of the profit analysis in enterprises, specific measures are being developed to ensure cost savings and losses while ensuring the quality of public services, which was done in this work.

Conclusion

The thesis paper deals with theoretical issues related to one of the most important categories of the economy - profit, analysis of its formation, assessment of profit indicators.

In a market economy, the importance of profit is enormous. The desire to obtain it directs commodity producers to increase the volume of production needed by the consumer, reduce production costs. With developed competition, this achieves not only the goal of entrepreneurship, but also the satisfaction of social needs. For the entrepreneur, profit is a signal that indicates where the greatest increase in value can be achieved, creates an incentive to invest in these areas. Losses also play their part. They highlight mistakes and miscalculations in the direction of funds, organization of production and marketing of products.

The main goal of profit management is to ensure the maximization of the welfare of the owners of the enterprise in the current and prospective period. This main goal is designed to simultaneously ensure the harmonization of the interests of the owners with the interests of the state and the personnel of the enterprise.

The process of profit management involves an analysis, which is characterized by a variety of its forms. The choice of the form of analysis is influenced by many factors: the industry in which the organization operates, the specialization and type of activity of the enterprise, the volume of trade and its speed, and others. Therefore, managers of the organization need to correctly assess the current situation at the enterprise and choose exactly the form of analysis that will provide the most comprehensive information for developing measures to manage profits in order to increase it. In modern scientific literature, there are many methods of profit analysis, but factor analysis has the greatest practical significance. Its implementation gives the most objective assessment of the factors of profit formation in the enterprise. After identifying all the factors affecting profit and evaluating its indicators, it is necessary to start planning the profit of the organization. This is a very important process that requires a high degree of training of specialists dealing with these issues. It is tactical that is the most used planning in practice, as it is the link between strategic and operational planning. At the same time, it should be emphasized that decisions made during tactical planning are less subjective, because they are based on complete and objective information, and its implementation is associated with less risk.

The analysis of profit management at the enterprise TD "Olimp" branch of JSC "Lipetskoblgaz", we can draw the following conclusions.

As a result of a change in the volume of sales of products, the amount of profit increased in 2006 by 3,675,613 rubles, the situation did not change with a change in the structure and range of products sold, the profit decreased by 10,013 rubles, and due to a change in the level of costs by 1 ruble of sold products, the profit of the enterprise decreased by 274923 thousand rubles. In general, under the influence of these factors, the profit from the sale of products increased in 2006. for 3300677 rubles.

In 2007, the situation changed slightly in better side. As a result of a change in the volume of products sold, the amount of profit increased by 2,197,597 rubles, due to a change in the structure and range of products sold, the profit from sales decreased by 50,094 rubles, and due to a change in the level of costs by 1 ruble of marketable products, it increased by 13,682 rubles. But, despite all the positive profit, in the end it increased by 2,161,185 rubles.

Thus, in 2007, compared to 2006, the influence of all three factors on profit from product sales changed:

sales volume by 102%,

structure and range of products sold by (-2.3)%

costs per 1 ruble of sold products by - 0.3%;

Profitability of sales volume for 2005-2006 and 2006-2007 decreased by 0.45 and 0.25 points, respectively. A decrease in this indicator indicates a decrease in the competitiveness of the enterprise, as it suggests a decrease in demand for its products.

When using the method of chain substitutions to calculate the profitability of sales in 2007, it was revealed that the profitability of sales decreased by 0.25 points under the combined influence of factors:

the change in the profitability of the sales volume due to the change in the selling price amounted to +11.72%;

the change in the profitability of the volume of sales due to the increase in the cost of sales amounted to - 11.97%.

Analyzing the data for 2005-2007, we come to the conclusion that the company is operating at a loss, with each subsequent year the loss increases. The main reason is high management and other costs.

After analyzing the profits of the enterprise TD "Olimp" branch of OJSC "Lipetskoblgaz", we can propose the following measures to increase profits at the enterprise, which can be done in two ways: increasing the proceeds from the sale of the enterprise; reduce business costs.

You can learn how to run a successful business only by doing it yourself. But, of course, it will be much easier to avoid mistakes in the implementation of economic activity, having theoretical knowledge in service.

In conclusion, it should be noted that the main goal of the work - the study of the theoretical foundations of the profit management mechanism in the real sector of the economy, the analysis of the effectiveness of its formation, distribution and use on the example of a particular enterprise - is completed.

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Introduction

1. The concept and functions of profit

1.1 Definition of profit

2.2 Profit management taking into account economic factors that form its quality

Conclusion

List of used literature

Introduction

The relevance of the topic is expressed in the fact that the distribution and use of profits are an important economic process that provides coverage for the needs of entrepreneurs and the formation of income in Russia.

Depending on the objective conditions of social production at various stages of development Russian economy the system of formation of profit changed and improved. One of the most important problems of profit formation, both before the transition to market relations and in the conditions of their development, is the optimal ratio of the share of profit accumulated in budget revenues and remaining at the disposal of business entities.

An economically justified system of profit formation should guarantee the fulfillment of financial obligations to the state and ensure the production, material and social needs of enterprises to the maximum.

Unfortunately, in modern economic conditions, not all enterprises have learned how to properly distribute and use their profits. Research on the problem of optimal profit formation and development in this subject area is very promising, since until enterprises learn to competently use all the resources that cover the needs of enterprises and generate state revenues, we will not be able to stabilize the country's economy. All of the above determines the relevance of the chosen topic of the graduation project.

The object of research work is the financial management of the enterprise. The subject of the study of this work is profit as a financial and economic result.

The purpose of the work is to consider the process of profit management, taking into account the economic factors that form its quality.

The goal involves solving a number of tasks:

1. Consideration of the concept and function of profit.

2. Consideration of the process of formation and distribution of profits.

3. Analysis of the profit management process, taking into account the economic factors that form its quality.

The paper uses theoretical and methodological material on the problem of profit distribution, set out in the monographs of Russian and foreign authors, Laws and by-laws of the Russian Federation.

1. The concept and functions of profit

1. 1 Definition of profit

Profit is the main goal of entrepreneurial activity. In the conditions of market relations, this is a converted form of surplus value. Profit accounting allows you to establish how efficiently business activities are conducted.

By its economic nature, profit acts as a part of the value (price) of the surplus product created for society by the labor of a worker in material production.

Profit as an economic category reflects the net income created in the sphere of material production in the process of entrepreneurial activity. The result of the combination of factors of production (labor, capital, natural resources) and the useful productive activity of economic entities is the finished product, which becomes a commodity if it is sold to the consumer.

At the stage of sale, the value of the commodity is revealed, including the value of past embodied labor and living labor. The value of living labor reflects the newly created value and is divided into two parts. The first is the wages of workers involved in the production of products. Its value is determined by a number of factors due to the need to reproduce the labor force. In this sense, for the entrepreneur, it represents part of the cost of production. The second part of the newly created value reflects the net income that is realized only as a result of the sale of products, which means public recognition of their usefulness.

At the enterprise level under conditions commodity-money relations net income takes the form of profit. In the commodity market, enterprises act as relatively isolated commodity producers. Having set the price for the product, they sell it to the consumer, while receiving cash receipts, which does not mean making a profit. To identify the financial result, it is necessary to compare revenue with production and sales costs, which take the form of product costs. When revenue exceeds cost, the financial result indicates a profit.

An entrepreneur always aims at profit, but does not always receive it. If the revenue is equal to the cost price, then it was only possible to reimburse the costs of production and sale of products. When implemented without loss, there is no profit as a source of production, scientific, technical and social development. With costs exceeding revenue, the company receives losses - a negative financial result, which puts the company in a rather difficult financial situation, which does not exclude bankruptcy.

Profit from the sale of products (works, services) characterizes the net income generated by the enterprise.

Profit (loss) from the sale of products (works, services) is determined as the difference between the proceeds from the sale of products (works, services) without value added tax and excise taxes and production and sales costs included in the cost of products (works, services).

It follows from the above definition that its origin is associated with the receipt of gross income by an enterprise from the sale of its products (works, services) at prices that are formed on the basis of supply and demand. Gross income of the enterprise - proceeds from the sale of products (works, services) minus material costs - is a form of net production of the enterprise, includes wages and profits. The connection between them is shown in Fig. 1.1.

The labor collective is interested both in increasing wages and in the growth of profits, since the latter, in a competitive environment, is a source of not only survival, but also the expansion of production, and, consequently, the growth of the well-being of the employees of the enterprise, their standard of living. It also follows from this that the mass of profit and gross income characterizes nothing more than the size of the effect obtained as a result of the production and economic activities of the enterprise.

profit distribution economic enterprise

Rice. 1 Cost, gross income and profit of the enterprise

Profit is a part of net income, which is directly received by business entities, after the sale of products. It is only after the sale of products that the net income takes the form of profit. Quantitatively, it is the difference between net revenue (after paying value added tax, excise tax and other deductions from revenue to budget and non-budget funds) and the full cost of sales. This means that the more an enterprise sells profitable products, the more profit it receives, the better its financial condition. Therefore, the financial performance should be studied in close connection with the use and sale of products.

The volume of sales and the amount of profit, the level of profitability depend on the production, supply, marketing and financial activities of the enterprise, in other words, these indicators characterize all aspects of management.

Firstly, it characterizes the economic effect obtained as a result of the enterprise's activities. But it is impossible to evaluate all aspects of the enterprise's activity with the help of profit. Such a universal indicator cannot exist. That is why when analyzing the production, economic and financial activities of an enterprise, a system of indicators is used.

The value of profit is that it reflects the final financial result. At the same time, the amount of profit and its dynamics are influenced by factors both dependent and independent of the efforts of the enterprise. Practically outside the sphere of influence of the enterprise are market conditions, the level of prices for consumed material and raw materials and fuel and energy resources, depreciation rates. AT to some extent depends on the enterprise such factors as the level of prices for products sold and wage, the level of management, the competence of management and managers, the competitiveness of products, the organization of production and labor, its productivity, the state and efficiency of production and financial planning.

These factors affect profit not directly, but through the volume of products sold and the cost, therefore, in order to find out the final financial result, it is necessary to compare the cost of the volume of products sold and the cost of costs and resources used in production.

Secondly, profit has a stimulating function. Its content is that it is both the financial result and the main element of the financial resources of the enterprise. The actual provision of the principle of self-financing is determined by the profit received. The share of net profit remaining at the disposal of the enterprise after paying taxes and other obligatory payments should be sufficient to finance the expansion of production activities, scientific, technical and social development of the enterprise, material incentives for employees.

Thirdly, profit is one of the sources of formation of budgets of different levels. It enters the budgets in the form of taxes and, along with other revenues, is used to finance the satisfaction of joint public needs, to ensure that the state performs its functions, state investment, production, scientific, technical and social programs.

In a market economy, the importance of profit is enormous. The desire to obtain it directs commodity producers to increase the volume of production needed by the consumer, reduce production costs. With developed competition, this achieves not only the goal of entrepreneurship, but also the satisfaction of social needs. For the entrepreneur, profit is a signal that indicates where the greatest increase in value can be achieved, creates an incentive to invest in these areas. Losses also play their part. They highlight mistakes and miscalculations in the direction of funds, organization of production and marketing of products.

Economic instability, the monopoly position of commodity producers distort the formation of profit as a net income, lead to the desire to receive income mainly as a result of price increases. The financial recovery of the economy, the development of market pricing mechanisms, and an optimal tax system contribute to the elimination of inflationary filling of profits. These tasks should be performed by the state in the course of implementing economic reforms.

Considering profit as an economic category, we speak about it abstractly. But when planning and evaluating the economic and financial activities of the enterprise, the distribution of profits remaining at the disposal of the enterprise, specific indicators are used.

In the conditions of market relations, an enterprise should strive, if not for maximum profit, then at least for the amount of profit that would allow it not only to firmly maintain its position in the market for its goods and services, but also to ensure the dynamic development of its production in competitive conditions. Ultimately, this involves knowing the sources of profit generation and finding methods for the best use of them.

In the conditions of market relations, as world practice shows, there are three main sources of profit:

The first source is formed due to the monopoly position of the enterprise in the production of a particular product or (and) the uniqueness of the product. Maintaining this source at a relatively high level implies constant product updates. Here, one should take into account such opposing forces as the antitrust policy of the state and growing competition from other enterprises;

The second source is directly related to industrial and entrepreneurial activities. It applies to almost all businesses. The effectiveness of its use depends on the knowledge of market conditions and the ability to adapt the development of production to this constantly changing environment. It all comes down to relevant marketing. The amount of profit in this case depends, firstly, on the correct choice of the production direction of the enterprise for the production of products (the choice of products that are in stable and high demand); secondly, from the creation of competitive conditions for the sale of their goods and the provision of services (price, delivery time, customer service; after-sales service, etc.); thirdly, on the volume of production (the greater the volume of production, the greater the mass of profit); fourth, from the structure of production cost reduction;

The third source stems from the innovative activity of the enterprise. Its use involves the constant updating of products, ensuring their competitiveness, growth in sales volumes and an increase in the mass of profits.

In practical terms, profit is a generalizing indicator of the results of economic activity of enterprises of any form of ownership.

Distinguish between accounting and economic profit.

Economic profit is the difference between revenue and all production costs (external and internal).

In an accounting sense, profit is the difference between total revenue and external costs.

In accounting practice, the following profit indicators are distinguished and used in the process of analyzing economic activity: balance sheet profit, profit from the sale of products, works and services, profit from other sales, financial results from non-sales operations, taxable profit, net profit.

The balance sheet profit includes financial results from the sale of products, works and services, from other sales, income and expenses from non-sales operations.

Net profit - the profit remaining with the enterprise, is calculated as the difference between the balance sheet profit and the amount of taxes paid to the budget from profit.

Beneficial profit - part of the balance sheet profit that is not subject to taxation under the current legislation.

Taxable income - income subject to taxation at established rates.

Each of the interrelated indicators and standards that characterize the economic activity of a commercial enterprise always depends on a number of economic and other factors, i.e. reasons (conditions, circumstances) that affected this indicator (positively or negatively). Moreover, the negative impact of some factors reduces the positive impact of others.

1.2 Factors affecting profit

Identification of factors affecting profit involves the study of the economic conditions for its formation. Under the influence of external and internal conditions of economic activity of a commercial enterprise, the absolute value and the relative level of profit change significantly.

The conditions of the internal environment are studied and taken into account in economic practice, they can be influenced in terms of increasing profits. Internal factors include: the level of management, the competence of the manager, the competitiveness of products, wages, the level of prices for products sold, the organization of labor, etc. Thus, due to the increase (or reduction) in the number of employees, the costs of wages and social needs increase (decrease), which in turn may affect the growth of gross profit (or decrease) of gross profit and, accordingly, net profit, although the level of profitability calculated in relation to turnover, may remain at the same level or change slightly.

Practically outside the sphere of influence are the conditions of the external environment: the competitive environment, the tax system, government authorities, political, social, cultural, natural and others. These can be changes in wholesale prices for products, fuel, tariffs for services and transportation, changes in depreciation rates, violations by suppliers, banking and other bodies of the terms of contracts, changes in legislative and regulatory documents in the field of pricing, lending, importing consumer goods, taxation enterprises, wages of employees.

Profit is a synthetic indicator, its research should be systemic. This means that the totality of factors affecting profit is a system consisting of several elements. The subsystem of forming factors on which the formation of gross profit depends includes gross income from trading activities, profit (loss) from the sale of fixed assets and other property, the balance of income and expenses on non-operating operations. Another subsystem is formed by mutually influencing factors (Figure 1.7).

The formation of profit from the sale of goods is influenced by the same factors as the gross income and distribution costs. The volume and level of profit are directly dependent on the absolute value and level of gross income and inversely on the value and level of distribution costs.

In practice, gross (balance sheet) profit is mainly created from profit from the sale of goods, but it can be increased (decreased) by the amount of the identified positive (negative) balance on non-operating transactions.

Gross profit may be affected by the financial result of the sale of fixed assets and other property. Profit (loss) from the sale of fixed assets is the difference between the sale (market) and their initial price or residual value, taking into account revaluations caused by inflation. If there is an excess of the initial cost and expenses incurred related to the disposal of fixed assets and other property over the amount of proceeds from their sale, then, accordingly, the gross profit is reduced by the amount of this excess.

The profit remaining at the disposal of the enterprise depends on the amount of income tax, and net profit - on the amount of costs attributed to profit.

The main mutually influencing factors are: the volume of sales of goods, retail prices for goods sold, distribution costs, turnover and composition of working capital (working capital), capital-labor ratio of employees, tax intensity of the enterprise, number of employees. The subsystem of mutually influencing factors includes elements that are traditionally not included in the calculation of gross profit, but are actually components of economic profit. This is a group of expenses of the enterprise that are not taken into account in distribution costs, but are attributed to the profit that remains at the disposal of the enterprise. One of the factors that reduce the amount of economic profit is the withdrawal of funds from the enterprise for violations of tax laws. By dividing the subsystem of mutually influencing factors into separate elements - indicators, it is possible to identify the degree of influence of each of them on profit based on the application of methods and techniques of economic and mathematical analysis (Fig. 1.2).

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Rice. 1.2 The system of factors affecting profit

To identify the degree of influence of one or another mutually influencing factor on the amount of profit, it is possible to apply the method of a comprehensive analysis of the economic efficiency of economic activity. When using the method of complex analysis, it is assumed that an increase in the value of any mutually influencing factor should cause an adequate increase in another.

Growth factors of this or that indicator are calculated by their successive ratio. The intensive development of a trading enterprise can be characterized not only by an increase in turnover and profits, but also by an increase in the productivity of trade workers and an increase in capital.

The amount of profit in trade depends on the volume of demand for goods and their supply. Difficulties arising in the sale of goods due to a decrease in demand for them can lead to a decrease in both gross income and gross profit. Retail prices act as a regulator of the ratio of supply and demand in the market. At low prices for goods, the quantity demanded for them is greater, and at high prices, less, since there are substitutes for these goods. As the volume of sales increases, the rate of profit rises, then its growth slows down and, finally, it stabilizes and decreases, which depends on the group of goods.

A different degree of consumer demand for certain types of goods determines the differentiation of the volumes of their sale, which, in turn, leads to commercial risk arising from the shortening of the life cycle of goods. The duration of the product's stay on the market has now been significantly reduced due to the constant updating of consumer properties of products. Currently, out of five new products entering the market, four are soon discontinued, as they do not find demand from the consumer.

In addition to profit, the object of taxation of an enterprise is the cost of paying employees, so profit and the number of employees are mutually influencing factors. The greater the number of employees, the greater the cost of labor and, accordingly, the more taxes calculated from the actual wage fund paid by the enterprise. Ultimately, this leads to an increase in financial costs (distribution costs and expenses attributable to net profit) and to a decrease in profit (gross and net).

Profit management should be of a state nature. Thus, in many Western countries, the state influences the activities of enterprises through a system of incentive measures. Accelerated depreciation is provided by reducing taxable income. Such a policy encourages enterprises to accelerate the renewal of fixed capital, ensuring the process of reproduction. As a result, the efficiency of the capital used increases, which leads to an increase in profits and profitability.

The state can influence the processes of profit management through a well-defined tax policy. The tax system should be flexible, stimulate the development of advanced, efficient industries, and taxes should be clear and stable. It is stability that leads to an increase in the profit of the enterprise.

Enterprise profit management is:

* determination of the main directions of formation and use of profit;

* foresight of the immediate and distant prospects for the development of a commercial enterprise;

* Expansion of the range of sources of formation of balance sheet profit;

* wide use of tax incentives, in accordance with the current legislation, reducing the amount of taxable profit and ensuring an increase in profit remaining at the disposal of the enterprise.

2. Management of the process of profit formation, taking into account economic factors that determine its quality

2.1 Features of the formation and distribution of profits

The final financial result of the economic activity of the enterprise is the balance sheet profit. Balance sheet profit is the sum of the profits (losses) of the enterprise both from the sale of products and income (losses) not related to its production and sale. Under the sale of products is understood not only the sale of manufactured goods that have a natural-material form, but also the performance of work, the provision of services. The balance sheet profit as the final financial result is revealed on the basis of the accounting of all business operations of the enterprise and the assessment of balance sheet items. The use of the term "balance sheet profit" is due to the fact that the final financial result of the enterprise is reflected in its balance sheet, compiled at the end of the quarter, year.

The balance sheet profit includes three enlarged elements: profit (loss) from the sale of products, performance of work, provision of services; profit (loss) from the sale of fixed assets, their other disposal, the sale of other property of the enterprise; financial results from non-sales operations.

Profit from the sale of products (works, services) characterizes the net income generated by the enterprise. The remaining elements of the balance sheet profit mainly reflect the redistribution of previously created income.

Let us consider in detail all the components of the balance sheet profit. Profit (loss) from the sale of products (works, services) is the financial result obtained from the main activity of the enterprise, which can be carried out in any form, fixed in the charter and not prohibited by law. The financial result is determined separately for each type of activity of the enterprise related to the sale of products, the performance of work, the provision of services. It is equal to the difference between the proceeds from the sale of products (works, services) at current prices and the costs of its production and sale.

		balance sheet
Profit from the sale of products, works and services		Profit from other sales		Extracurricular financial results
Product sales volume		Profit from the sale of inventory items		Profit from equity participation in activities of joint ventures
The structure of marketable products		Profit from the sale of products of subsidiary farms		Profit from the lease of fixed assets and land
Realization prices		Profit from the sale of fixed assets and intangible assets		Penalties and fines received and paid
				Losses from write-off of receivables
				Losses from natural disasters

Rice. 2.1 Formation of balance sheet profit

Revenue is taken into account without value added tax and excises, which, being indirect taxes, go to the budget. The amount of markups (discounts) received by trade and supply and marketing enterprises involved in the sale of products is also excluded from the proceeds. Enterprises that export products also exclude export tariffs directed to the state revenue. At the same time, cash receipts associated with the disposal of fixed assets, tangible (current) and intangible assets, the sale value of currency values, securities are not included in the proceeds.

The composition of the costs for the production and sale of products (works, services) included in the cost price is regulated by law. The costs that form the cost price are grouped according to the following elements: material costs, labor costs, social contributions, depreciation of fixed assets, etc.

For the sale of products that have a natural-material form, the calculation of profit is based on the proceeds and the total cost of production, determined by the volume of products sold. In physical terms, it includes the balance of finished products at the beginning of the reporting period that were not sold in the previous period, and the output of marketable products of the reporting period minus that part of the products that cannot be sold at the end of the reporting period. A period is a quarter or a year. The composition of the balances of unsold products at the beginning and end of the period depends on the method of accounting for revenue chosen by the enterprise - upon receipt of money to the settlement account (cash) of the enterprise or upon shipment of products, settlement documents for which are presented to the buyer.

The amount of profit from the sale of products is affected by the composition and size of unrealized balances at the beginning and end of the reporting period. A significant amount of balances leads to an incomplete receipt of revenue and a shortfall in expected profit.

The remaining unsold products are formed for the following reasons:

Part of the finished product naturally settles in the warehouse due to the need for its assembly, packaging, preparation for shipment, accumulation to the size of the transport lot, and issuance of settlement documents. An increase in the balance of finished products in the warehouse in excess of the standard value should be the subject of attention of the financial services of the enterprise: it is possible that the products are not sold due to a break in economic ties or are not in demand for another reason. Such an impact on the profit of the balance of finished products in the warehouse is often found in enterprises that produce products that have a natural-material form. Works performed and services rendered, due to their specific form as goods, cannot take the form of product residues in the warehouse. The same applies to the products of some industries, for example, electric power, transport, communications;

Often, the balance of goods shipped, the payment deadline for which has not come, can be formed when certain forms of payment for shipped products are applied. Full prepayment for shipped products excludes the formation of such residues and is practiced by many enterprises, but as a form of payment, it has its drawbacks;

Part of the goods shipped is not paid on time by the buyer. Non-receipt of revenue in this case is practically independent of the supplier. Unfortunately, this situation has become typical, the volume of non-payments does not decrease, but the company still needs to work towards generating income - stop shipping to the buyer, transfer it to a letter of credit form of payment, transfer claims to collect non-payments from the buyer to the bank, issue a commercial loan;

The products were shipped and received by the buyer, but the latter legally refused to pay for it. The most likely reason for the refusal may be the supplier's failure to comply with the terms of the delivery agreement.

An increase in the volume of sales in physical terms, other things being equal, leads to an increase in profits. Increasing production volumes of products that are in demand can be achieved with the help of capital investments, which requires the use of profits for the purchase of more productive equipment, the development of new technologies, and the expansion of production. This path is now difficult or almost impossible for many enterprises due to inflation, rising prices and the unavailability of long-term credit. Enterprises that have the means and opportunities to make capital investments actually increase their profits if they provide a return on investment above the rate of inflation.

It does not require capital expenditures to accelerate the turnover of working capital, which also leads to an increase in production volumes and product sales. However, inflation quickly devalues ​​working capital, enterprises allocate an increasing part of them for the purchase of raw materials and fuel and energy resources, non-payments of buyers and the required prepayment divert a significant part of the funds from the buyers' turnover. The reasons for non-payments are not only a lack of working capital and the unstable financial situation of enterprises, but also low financial and settlement discipline, shortcomings in the banking system, and underdevelopment of bill circulation.

In general, Russian enterprises are characterized by a decrease in production volumes in recent years.

In this situation, it would seem logical to assume a sharp fall in the mass of profits. But the statistics show otherwise. With an increase in production costs and a decrease in the volume of its output, profits grow due to constantly rising prices. A price increase in itself is not negative factor. It is quite justified if it is associated with an increase in demand for products, an improvement in the technical and economic parameters and consumer properties of products.

Since profit from the sale of products occupies the largest share in the structure of balance sheet profit, the analysis of the factors that determine it is important to identify growth reserves for all balance sheet profit.

Under stable economic conditions of management, the main way to increase profits from the sale of products is to reduce the cost in terms of material costs. This is especially important for enterprises in the manufacturing industries (engineering and metalworking, metallurgical, petrochemical, etc.), where the share of the cost of raw materials in the cost price is significantly higher than in similar enterprises in developed countries, and the weight of waste is significant. In particular, in mechanical engineering, the share of metal waste in the total consumption of ferrous metals has consistently occupied more than 20% for many years, and the share of chips in the total generation of metal waste is 45%. This also indicates the use of obsolete equipment.

In the extractive industries, profit growth is quite difficult to ensure as a result of a decrease in the cost of mining due to natural causes. This can mainly be achieved due to an increase in production volumes.

In industries focused on the end consumer, the volume of production and sales of products, determined by demand, the level of cost, but without compromising the quality of consumer goods, are of decisive importance.

Profit from the performance of work and the provision of services is calculated similarly to profit from the sale of products. The formation of revenue is closely related to the features of the work and services performed and the forms of payment used.

Profit (loss) from the sale of fixed assets, their other disposal, the sale of other property of the enterprise is a financial result that is not related to the main activities of the enterprise. It reflects profits (losses) on other sales, which include the sale to the side of various types of property listed on the balance sheet of the enterprise.

The company independently disposes of its property. It has the right to write off, sell, liquidate, transfer to the authorized capital of other enterprises buildings, structures, equipment, vehicles and other fixed assets, material assets obtained in the process of demolition and dismantling of buildings, structures, sell individual objects, inventory and other types of property. The financial result takes place only upon the sale of the listed types of property, as well as upon other disposal of under-depreciated objects in some cases. When the fixed assets are sold, the financial result is determined as the difference between the sale price of the fixed assets sold to third parties and their residual value, taking into account the costs incurred for the sale.

The reserve for increasing the balance sheet profit may be the profit received from the sale of fixed assets and other property of the enterprise. If earlier operations related to the disposal of fixed assets did not have a noticeable impact on financial results, now that enterprises have the right to dispose of their property, it makes sense to get rid of excess and uninstalled equipment, having previously weighed what is more profitable - to sell it or rent it out. Other transactions, such as the gratuitous transfer of fixed assets to an enterprise, are not charged to balance sheet income, but are reimbursed from net income earmarked for accumulation.

The financial result from the sale of other property of the enterprise can be both positive and negative. It depends on the composition and sale price of the assets being sold. If we are talking about tangible assets, then one should proceed not so much from the possibility of making a profit, but from the availability of reserves, which, due to changes in the economic situation, the range of products produced and for other reasons, turn out to be unnecessary or exceed the level sufficient for the planned output in size. . This work is one of the areas of financial management, that is, financial management of the enterprise, and should be carried out on the basis of an analysis of the structure of tangible assets. Of course, it is better to sell them at a price exceeding the book value, but otherwise the company will receive cash that can be put into circulation.

Other property of an enterprise is understood as raw materials, materials, fuel, spare parts, intangible assets (patents, licenses, trademarks, computer software products, etc.), currency values ​​(foreign currency, foreign currency securities, precious metals and natural precious stones, except for jewelry and household products and scrap of such products), securities. The difference between the sale price of these types of property of the enterprise and their book value (taking into account the costs incurred in connection with this) is the financial result that affects the amount of book profit.

Profit can be obtained from the sale of intangible assets that are in demand in the market. Their selling price is determined by the ability to generate income. To calculate profit, the sale price excludes the costs associated with the creation or purchase of intangible assets, taking into account the costs of bringing them to a state in which they are able to generate income.

Securities are acquired by an enterprise for various purposes. Since they are liquid assets, the enterprise, quickly turning them into money, can make payments and settlements, and repay obligations. When buying securities, their correct choice is important. It is possible to acquire securities only if there is reasonable confidence in the growth of their market value, then their sale will give a positive financial result. With a fall in the market value, it is almost impossible to sell these securities, and in the absence of income on them, such an investment can be considered not an asset, but a loss. Realizing securities, the enterprise receives a result that can be compared with the nominal value of these securities.

Financial results from non-operating transactions are profit (loss) on transactions of a different nature that are not related to the core business of the enterprise and are not related to the sale of products, fixed assets, other property of the enterprise, the performance of work, the provision of services. The financial result is defined as income (losses) minus expenses on non-operating operations.

As part of non-sales operations, financial investments can be the most profitable. It is important that they are carried out not to the detriment of the main activity of the enterprise. Specific directions and structure of financial investments should be the result of a well-thought-out enterprise policy based on a reliable assessment of their effectiveness. An unprofessional approach to this issue may lead to the loss of funds invested in the authorized capital of other enterprises or joint activities, in illiquid securities. At present, practically no income from financial assets exceeds the level of inflation, therefore, in order to receive real income from financial investments, one should approach such investments very carefully.

The list of non-operating profits (losses) of the enterprise is heterogeneous and quite extensive. A significant share can be income from long-term and short-term financial investments and income from the rental of property (they are included in non-operating profits if the lease of property is not the main activity of the enterprise).

Financial investments mean such placement of the enterprise's own funds in the activities of other enterprises, which makes it possible to receive income. Long-term financial investments are understood as the costs of an enterprise for investing in the authorized capital of other enterprises (partnerships, joint-stock companies, joint ventures, subsidiaries), acquiring shares and other securities, and lending funds for a period of more than a year. The forms of short-term financial investments include the acquisition of short-term treasury bills, bonds and other securities, the provision of loans for a period of less than a year. Cash or other property assets of the parties to the agreement on joint activities without formation for this purpose legal entity are also considered financial investments - long-term or short-term, depending on the term of the contract, therefore, income from them is also included in non-operating income.

Income from equity participation in the authorized capital of another enterprise represents a part of its net profit, which is received by the founder in a predetermined amount or in the form of dividends on shares owned by the founder. Income from securities is interest on bonds, short-term treasury bills, dividends on shares. The enterprise has the right to receive income on securities of joint-stock companies if they are acquired no later than 30 days before the officially announced date of their payment. With regard to government securities, the right and procedure for obtaining income are determined by the terms of their issue and placement. For funds provided on loan, the enterprise receives income under the terms of the agreement between the lender and the borrower.

Income from the rental of property is formed from the rent received, which the tenant pays to the landlord.

Non-operating profits (losses) also include the balance of received and paid fines, penalties, forfeits and other types of sanctions (except for sanctions paid to the budget and a number of extra-budgetary funds in accordance with the law); other income and expenses (losses, losses). These incomes include:

Profit of previous years, revealed in the reporting year (for example, amounts received from suppliers for recalculations for services and material assets received and spent last year; amounts received from buyers, customers for recalculations for products sold last year, etc.) ;

Income from revaluation of goods;

Receipt of amounts on account of repayment of receivables written off in previous years at a loss;

Positive exchange rate differences on foreign currency accounts and operations in foreign currency;

Interest received on funds in the accounts of the enterprise.

The scheme of formation and distribution of profit is shown in fig. 2.2.

Proceeds from the sale of products (works, services) in current prices without value added tax and excises		Cost of products (works, services)
Profit from the sale of marketable products (works, services)		Profit from other sales		Extraordinary profits, losses
Balance sheet (gross) profit		The amount of adjustments for income excluded from the calculation of the basic income tax
Taxable income including benefits				Income tax amount
balance sheet profit		Taxes and other obligatory payments
Accumulation		Net profit		Consumption

Rice. 2.2 Formation and distribution of profits of the enterprise

Costs and losses include:

Losses on operations of previous years, identified in the reporting year, from the markdown of goods, write-off of bad receivables;

Lack of material assets identified during the inventory;

Costs for canceled production orders and for production that did not produce products, excluding losses reimbursed by customers (the cost of material assets used is deducted);

Negative exchange rate differences on foreign currency accounts and operations in foreign currency;

Uncompensated losses from natural disasters, taking into account the costs of preventing or eliminating the consequences of natural disasters (this excludes the cost of received scrap metal, fuel, and other materials);

Uncompensated losses as a result of fires, accidents, other emergency events caused by extreme situations;

Costs for the maintenance of mothballed production facilities and facilities, with the exception of costs reimbursed from other sources;

Legal costs and arbitration fees, etc.

When considering profit as the final financial result of economic activity, it should be borne in mind that not all profits received remain with the enterprise, as they are subject to taxation.

Taxable income is reduced by the amount of profit from the sale of agricultural and hunting products produced, as well as from the sale of products produced and processed on this enterprise agricultural products of own production.

The taxable profit in case of actually incurred costs and expenses at the expense of the profit remaining at the disposal of the enterprise is also reduced by the amounts directed:

a) enterprises of industries in the sphere of material production to finance capital investments for industrial purposes (including in the form of equity participation), as well as to repay bank loans received and used for these purposes, including interest on loans;

b) enterprises of all sectors of the national economy to finance housing construction (including in the form of equity participation), as well as to repay bank loans received and used for these purposes, including interest on loans. This exemption is granted to the specified enterprises that develop their own production base and housing construction;

c) the costs of enterprises for the maintenance of healthcare facilities and institutions on their balance sheet, public education, culture and sports, children's preschool institutions, children's holiday camps, housing stock.

In order to stimulate scientific and technical progress, taxable profit is reduced by amounts directed to:

Scientific organizations that have passed state accreditation, directly for the conduct and development of research and development work in the manner and according to the list established by the Government of the Russian Federation;

Enterprises for R&D, as well as to the Russian Fund for Technological Development, but not more than 10% of the amount of taxable profit.

The part remaining after paying taxes is the residual profit (or net profit), which is completely at the disposal of the enterprise. It is used to pay wages and material incentives, to increase working capital, capital investments, social development through the formation of appropriate funds; development of science and technology, social development, material incentives.

Thus, in the conditions of transition to the market and in its further formation, profit is the main motive for organizing the production and economic and commercial activities of the enterprise.

2.2 Management profit taking into account the economic factors that shape its quality

In market conditions, the trading activities of organizations should be carried out on the principles of self-financing. For an objective assessment of the economic activity of a company from the standpoint of all interested subjects of market relations, the problem of assessing the quality of profit is relevant.

The quality of profit reflects how characteristic (stable) the achieved level of profit is for a given organization, as well as the degree of use of economic reserves to achieve it.

To assess the quality of profit, along with various methods of auditing, methods, methods and techniques of economic and financial analysis can be used. The assessment of the quality of profit is influenced by various factors: the stability of income, the structure of turnover, the value of distribution costs, the current structure of working capital, the efficiency of the use of labor resources, non-sales operations.

To measure the impact of income stability on the quality of profit, it is determined by calculating the indicators of average profit over a number of years, standard deviation coefficient of variation.

The effectiveness of the analysis can be improved by using the profitability of sales indicator as the indicator under study, since inflationary processes have a strong negative impact on the absolute profitability indicators.

The quality of profits is generally determined by the evaluation of profitability, regardless of the extraordinary conditions that generate profits. However, a distinction should be made between extraordinary revenues and temporary increases in operating profits resulting from short-term commercial transactions (eg, increased demand for alcoholic beverages during celebrations). Due to the one-time nature of short-term commercial transactions reduce the quality of profits.

Therefore, to assess the quality of profit, it makes sense to recommend that economists calculate the following ratios:

It is known that the level of profitability of various types of goods varies significantly relative to overall indicator profitability of sales of a trading enterprise, which is explained by the differentiated establishment of trade allowances for product groups due to their different cost intensity. Planning the share of profit in the price of goods should be carried out taking into account the elasticity of demand for goods at a given price. In practice, enterprises, taking into account the possibility of increasing the amount of profit due to the acceleration of the sale of goods, reduce the share of profit in the price, that is, they discount goods and organize seasonal sales. To assess the quality of profit, taking into account the applicable pricing procedure, the following ratios calculated by product groups can be used.

Any trade enterprise strives to expand the range of goods, because this is a sure way to reduce the sensitivity of business to cyclical processes in the economy. The growing demands of consumers for the quality of goods, on the one hand, and the development of technical progress, on the other hand, also stimulate the introduction of new goods into the assortment of trade enterprises. It is possible to determine the degree of renewal of the assortment using the following ratios, the upward trend of which indicates an increase in the quality of profit.

The structure of distribution costs also has a great influence on the quality of profit. Enterprises with a high level of fixed costs have a higher commercial risk, since fixed costs are difficult to manage quickly in a rapidly changing economic situation (for example, with a sharp drop in income, it is impossible for an enterprise to quickly reduce fixed costs). To assess the quality of profit, the following ratios can be recommended to management personnel as auxiliary indicators:

Thus, the assessment of the quality of profit affects many aspects of the economic activity of the organization and should become a full-fledged element in the system of economic analysis of profit.

In the process of profit formation, it is important to determine what factors lead to its growth or decrease. Profit growth factors include:

...

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