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Light industry enterprises of active and passive impact ensure financial stability
Section 8. Finance, money circulation and credit
Jumaniyazova Feruza Radjabovna, Teacher Tashkent State University of Economics E-mail: alyoha83@mail.ru
Light industry enterprises of active and passive impact ensure financial stability
Abstract: In the article the influence of assets and liabilitiesto ensure the financial stability of the enterprises of light industry.
Keywords: light industry, financial stability, assets, liabilities.
Introduction: Definition of prospects for the country’s light industry development and to ensure their financial stability perspective to assess the current situation and the existing problems, their causes and origin of our analysis and research in order to identify ways to eliminate this process we carried out of the country part of the light industry enterprises that embody «Uzbek-engilsanoat» to the years 2001-2015 SC will try to attract the appropriate information [6]. Conclusions based on the sufficient level and to ensure uniformity and compare them to use the information above mentioned years to the beginning of the year. The results of the analysis carried out are reflected in table 1.
Analyses: As a result of this analysis of the data listed in the table, in our opinion, «Uzbekengilsanoat» SC light industrial enterprises in the system from the point of view of ensuring financial stability in the years 2001-2015 should be taken into consideration a number of fundamental conclusions can produce. Their most important are the following [1]:
1. The years covered by the analysis (2001-2015) «Uzbekengilsanoat» SC enterprises, the share of long-term assets to total assets amounted to an average of 66.3 %. 2/3 of the total assets of this country’s light industry enterprises are a long-term assets accounted for. Its share in total assets amounted to an average of 66.3 %. 2/3 of the total assets of this country’s light industry enterprises is a long-term assets accounted for. The level of this indicator in the year-over-year (with the exception of only some years) have a tendency to go in the opposite direction is constantly changing.
2. In contrast to the long-term assets as «Uzbekengilsanoat” SC current assets to total assets of enterprises, which is equal to the average share of 33.7 %. This, in
turn, current assets, total assets of the enterprises of light industry has 1/3.
3. In the same period, «Uzbekengilsanoat» SC in determining the total number of assets in the structure of assets in their part of the trade-related material resources, which plays a decisive role. They accounted for an average of 19.8 % of total assets.
4. On the contrary, during the 2001-2015 «Uzbekengilsanoat» SC in determining the total number of assets in the structure of assets in cash and shortterm investments related to them almost part of its effect. Carried out the analysis period, their share of 0.7 % (01.01.2005) to 7.0 % (as of 01.01.2010), despite being shaken, have amounted to an average of 3.2 %.
5. Above the opposite way during the 2001-2015 «Uzbekengilsanoat» SC enterprises in determining the total number of assets in the structure of assets and their impact on a significant portion of its accounts receivable. This is, in particular, between the years 2003-2005 and 2009-2013 stockholder look at the data, it seems obvious. Carried out the analysis period, the average share of 10.7 %, the level of this indicator, which is 15.0 % higher than in some years;
6. Previous 3- and 5-points seen in «Uzbekengilsanoat» SC, the information presented “in the structure of the total assets of the enterprises in determining the fate of the current assets salmog’inining inventory and receivable reserves are of vital importance”.
Thus, on the basis of the analysis of the data presented in Table 1, based on the above conclusions are reflected in the 1-6 points, you can configure the following general conclusion: the country consists of the total assets of the enterprises of light industry structure, and its long-term assets and current assets as well as play
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Section 8. Finance, money circulation and credit
a role in the current structure, and in particular the accounts receivable asset, though, is significantly greater than the effect of that is to ensure the financial sustainability of these enterprises. In our opinion, current conditions and light industrial enterprises in the future to
ensure the financial stability of the issues on the agenda, which may cause the above findings and their consequences, first and foremost, be taken into consideration and accordingly necesery to make decisions related to this issue [2-4].
Table 1. - «Uzbekengilsanoat» SC assets belonging to state enterprises ( % at the beginning of the year)
№ Reading Year
2001 2002 2003 2004 2005 2006 2007 00 о о 2009 2010 2011 2012 2013 2014 2015
1. Long-term assets 66.4 67.1 66.9 65.8 71.2 69.4 69.9 73.3 67.6 62.1 62.9 60.4 60.5 63.9 67.2
2. Current assets 33.6 32.9 33.1 34.2 28.8 30.6 30.1 26.7 32.4 37.9 37.1 39.6 39.5 36.1 32.8
3. Including: a) inven-tory reserves 27.2 24.8 15.8 17.2 18.0 19.4 20.3 16.5 16.8 17.5 19.2 20.6 20.7 21.8 20.9
b) cash and shortterm invest-ments 3.2 1.1 2.0 1.5 0.7 2.5 1.3 2.0 4.0 7.0 5.1 4.5 4.3 4.4 4.4
с) debits 3.2 7.0 15.3 15.5 10.1 8.7 8.5 8.2 11.6 13.4 12.8 14.5 14.5 9.9 7.5
Total 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100
Now the same procedure, taking into account the business «Uzbekengilsanoat» SC let us analyze the situation of the respective liabilities of the companies. The results of the analysis carried out are reflected in Table 2. While analyzing the data in Table 1, Table 2 details, like the study of light industry and directly related to the financial stability of the country that are proper and related to several important conclusions. In our view, the most important are the following [5; 6]:
1. In the years under review (2001-2015), during the «Uzbekengilsanoat» SC source of funds for enterprises in total liabilities did not change in a relatively stable trend in the share of the content. During his years to 18.4 % (01.01.2004) to 49.5 % (01.01.2015) tossed (range 31.1 f. p. change). At the same time its change in some years than in the opposite direction, it should be noted that the tensions. For example, its ratio to 18.4 % in 01.01.2004, 01.01.2005 and in contributing to 45.4 %, which is equal to or more than 2 times higher. Or, on the contrary, 01.01.2006 in the level of this indicator was equal to 40.9 % fell to 25.1 % in 01.01.2007, ie decreased by almost 31.0 %. If so, the light industrial enterprises in this area since 2009, can identify changes in policy. Because this is the next part of the total liabilities for the years since have the resources due to the continuous growth of own funds (with the exception of 01.01.2012).
2. In the same for years, «Uzbekengilsanoat» SC obligations of the above in a similar situation, that may indicate that the figure is a tendency for it to form
almost constantly in the opposite direction (some severely) variable. But if you look at the situation in the next years tax since 2009, the total liabilities in the structure of liabilities due to the steady decline of share ownership (01.01.2012 years is the exception).
3. The indicators are presented in Table 1 and 2 the next 2 years and compared their change in shaping the structure of liabilities of enterprises of light industry of the country that the change in policy, in particular the waiver of liability to give priority to the formation of commitments to increase the number of its funds, and eventually, their sources of funds and the obligation to establish a 50:50 ratio between the content tutilgan-ligidan shows.
4. During the years 2001-2015, and in recent years, especially since 2010, Uzbekyengilsanoat total liabilities decline in its share of the liabilities of enterprises in different parts of the effect that the result of long and short-term liabilities and creditors.In particular, the decline in the share of total liabilities in the structure of liabilities in recent years: the share of long-term liabilities 12.1 % (01.01.2010) to 19.0 % (01.01.2015) continuously increasing year by year unless; the share of shortterm liabilities, 29.1 % (as of 01.01.2010) and 23.9 % (01.01.2015) Vibration and between; creditors’ share of 22.2 % (as of 01.01.2010) to 7.6 % (01.01.2015) at the expense continued to decline. In addition, a decrease in the share of total liabilities in the structure of liabilities of the industry, mainly due to the logical conclusion that carried out at the expense of creditors.
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Factor analysis of the financial stability indexes of the industrial enterprises
Table 2. - «Uzbekengilsanoat» SC liabilities related to state enterprises ( % at the beginning of the year)
№ Reading Years
2001 2002 2003 2004 2005 2006 2007 00 о о rt 2009 2010 2011 2012 2013 2014 2015
1. The sources of their funds 27.8 19.4 23.2 18.4 45.4 40.9 25.1 35.5 32.8 36.6 41.5 39.9 42.7 46.0 49.5
2. Duties 72.2 80.6 76.8 81.6 54.6 59.1 74.9 64.5 67.2 63.4 58.5 60.1 57.3 54.0 50.5
3. Including: a) long-term duties 20.3 26.8 51.3 51.5 4.3 3.9 28.5 29.2 26.8 12.1 14.8 17.2 17.6 18.2 19.0
b) short-term duties 44.2 47.7 15.0 17.3 26.4 29.2 25.4 21.3 24.2 29.1 25.4 25.7 25.8 25.3 23.9
c) creditors 7.7 6.1 10.5 12.8 23.9 26.0 21.0 14.0 16.2 22.2 18.3 17.2 13.9 10.5 7.6
Total 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100
This was essentially due to the reduction on the above content is an indicator of long-term liabilities, largely reflecting the impact, a significant impact on short-term liabilities. In such circumstances, the reduction of the country’s share of total liabilities in the structure of liabilities of enterprises of light industry, mainly in the implementation of the creditors at the expense of (noted above, in recent years, the number of creditors had declined almost 3 times) how the agenda of issues related to the accuracy of our main will they be able to answer. The same thing in the structure of total liabilities: some years, long-term liabilities and creditors (for example,
during 01.01.2007-01.01.2009); other short-term liabilities and creditors (for example, during 01.01.200501.01.2006 and a combination of long and short-term liabilities (for example, during 01.01.2001-01.01.2004) should be of vital importance [5; 6].
Conclusion: In our opinion, current conditions and light industry of the country in the near future and ensure the continuous strengthening of the financial stability of the issues on the agenda, which may cause the above findings and their consequences, first and foremost, be taken into account in relation to this issue and in accordance with the relevant decisionsaccording to the text.
References:
1. Akabirova D. N. The sustainable development of the light industry of the Republic of Uzbekistan. - T.: Fan,
2008. - 120 p.
2. Analysis of financial and economic activity. Workshop [Text]: tutorial/Gubina O. V., Gubin V. E. - 2 edition, proc. and addition. - М.: Publishing House «FORUM»: INF^A-М, 2012. - 192 p.
3. Koltsova I. Liquidity ratios, financial stability and independence for your company [Text]//Chief Financial Officer. - 2011. - № 4 (104). - Р. 30-35.
4. Karlaap H. S., Yilmaz N. D. Assessment of Trends in the Comparative Advantage and Competitiveness of the Turkish Textile and Clothing Industry in the Enlarged EU Market//Fibres & Textiles in Eastern Europe. - 2012. -Vol. 20, No. 3 (92). - P. 8-11.
5. Reporting data for the years 2001-2014 «Uzbekengilsanoat» SC.
6. Reporting results for 2015 year «Uzbekengilsanoat» SC.
Luppol Olena Michajlovna, Donetsk National Technical University, Ph. D., assistant professor of finance and economic security department E-mail: luppol@inbox.ru
Factor analysis of the financial stability indexes of the industrial enterprises
Abstract: The essence of enterprise financial stability is considered, the generalization of the financial stability indexes for Ukraine electrotechnical industry enterprises is performed using methods of multivariate factor analysis. The general factors are highlighted, their interpretation is given, the dynamics is analyzed.
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