Methods are used to calculate the standards of working capital. Working capital management. Rationing of finished products

The following basic standardization methods are applied working capital: direct counting, analytical, coefficient.

Direct counting methodprovides for a reasonable calculation of stocks for each element of working capital, taking into account all changes in the level of organizational and technical development of the enterprise, transportation of inventories, the practice of settlements between enterprises. This method, being very time consuming, requires high qualifications of economists, the involvement of workers in the rationing of many services of enterprises. But this allows you to most accurately calculate the need for working capital.

Analytical methodare applied in the case when in the planning period there are no significant changes in the operating conditions of the enterprise in comparison with the previous one. In this case, the calculation of the working capital ratio is carried out in a consolidated manner, taking into account the relationship between the growth rate of the volume of production and the size of the standardized working capital in the previous period. When analyzing the available circulating assets, their actual stocks are adjusted, excess ones are excluded.

When coefficient methodthe new standard is determined on the basis of the standard of the previous period by making changes to it, taking into account the conditions of production, supply, sale of products (work, services), calculations.

Analytical and coefficient methods are applicable at those enterprises that have been operating for more than a year, have basically formed a production program and organized a production process and do not have a sufficient number of qualified economists for more detailed work in the field of working capital planning. In practice, the direct counting method is more common. The advantage of this method is its reliability, which makes it possible to make the most accurate calculations of private and aggregate standards.

Features of various elements of working capital determine the specifics of their rationing. Consider the main methods of rationing the most important elements of working capital: materials (raw materials, basic materials and semi-finished products), work in progress and finished products.

Working capital ratio for stocks of raw materials, basic materials and purchased semi-finished products is calculated based on the average daily consumption (P) and the average stock rate in%.

One-day consumption is determined by dividing the costs of a certain element of working capital by 90 days (with a uniform production pattern for 360 days).

The average rate of working capital is determined as a weighted average based on the rate of working capital for certain types or groups of raw materials, basic materials and the purchase of semi-finished products and their one-day consumption.

The working capital rate for each type or homogeneous group of materials takes into account the time spent in the current (T), insurance (C), transport (M), technological (A) and preparatory (D) stocks.

Current stock- the main type of stock required for the smooth operation of the enterprise between two successive deliveries. The size of the current stock is influenced by the frequency of supply of materials under contracts and the volume of their consumption in production.

Safety stock- the second largest type of stock, which is taken into account in case of unforeseen deviations in supply and ensures the continuous operation of the enterprise. The safety stock is taken, as a rule, in the amount of 50% of the current stock, but it may be less than this value depending on the location of suppliers and the probability of a supply interruption.

Transport stock - is created in case of exceeding the terms of cargo turnover in comparison with the period of document turnover at enterprises remote from suppliers at a considerable distance.

Technological stock is created in cases when given view raw materials need preliminary processing, aging to impart certain consumer properties. This stock is taken into account if it is not part of the production process. For example, in preparation for the production of certain types of raw materials and materials, time is required for drying, heating, grinding, etc.

Preparatory stock associated with the need for acceptance, unloading, sorting and storage of industrial stocks. The norms of time required for these operations are set for each operation for the average delivery size based on technological calculations and by means of timekeeping.

The norm of production assets in stocks of raw materials, basic materials and purchased semi-finished products (N), reflecting the total need for working capital for this element of inventories, is calculated as the sum of the norms of working capital for all types of inventories. The resulting general rate is multiplied by the one-day consumption for each type or group of materials:

H \u003d P (T + C + M + A + D)

in production inventories, working capital is also normalized in stocks of auxiliary materials, fuel, containers, MBP, etc.

The value of the standard of working capital in work in progress depends on 4 factors of the volume and composition of the products produced, the duration production cycle, the cost of production and the nature of the increase in costs in the production process.

The volume of production directly affects the amount of work in progress - the more products are produced, all other things being equal, the larger the amount of work in progress will be. Changes in the composition of manufactured products have a different effect on the amount of work in progress. With an increase in the share of products with a shorter production cycle, the volume of work in progress will decrease and vice versa.

The cost of production directly affects the size of the work in progress. The lower the production costs, the less work in progress in monetary terms. An increase in the cost of production leads to an increase in work in progress.

The volume of work in progress is directly proportional to the duration of the production cycle. The production cycle includes time production process, technological stock, time of accumulation of semi-finished products before starting the next operation (working stock), time spent by semi-finished products in stock to guarantee and continuity of the production process (safety stock). The duration of the production cycle is equal to the time from the moment of the first technological operation to the acceptance of the finished product at the finished product warehouse. Reducing inventories in work in progress improves the use of working capital by reducing the duration of the production cycle.

To determine the norms of working capital for work in progress, it is necessary to know the degree of readiness of the product. It is reflected by the so-called cost escalation ratio.

Determination of the enterprise's need for its own working capital is carried out in the process of rationing, that is, determining the standard for working capital.

The purpose of rationing is to determine the rational size of circulating assets, diverted for a certain period in the sphere of production and the sphere of circulation.

The need for own circulating assets for each company is determined when drawing up a financial plan. Thus, the value of the standard is not a constant value. The size of its own working capital depends on the volume of production, conditions of supply and sale, the range of products produced, and the forms of payment used.

The rate of working capital is nothing more than the number of days during which working capital is diverted into inventories, starting from the payment of the invoice for materials and ending with the moment of their transfer to production. It includes:

· Transport stock, which is defined as the difference between the time of cargo turnover and the time of document turnover. (Document flow - time for sending settlement documents and submitting them to the bank, time for processing documents in the bank, time of mail run of documents.) In practice, its value is determined on the basis of actual data for the previous year;
Preparatory stock - time for unloading, acceptance and warehouse handling the received materials are determined upon the fact;
Technological stock - time to prepare materials for production . This applies to those materials that cannot immediately go into production (wood - drying, grain - processing, etc.);
Current warehouse stock . It is needed to ensure the continuity of the production process between two adjacent supplies of materials;
· Guaranteed (insurance) stock required in case of unforeseen circumstances. It is usually set at 50% of the current stock.

Thus, the total stock rate in days for raw materials, basic materials and purchased semi-finished products as a whole consists of the five listed stocks.

To determine the standard, the average daily consumption of standardized elements in monetary terms is taken into account. For production inventories, the average daily consumption is calculated according to the corresponding item of the production cost estimate: for work in progress - based on the cost of gross or marketable output; for finished goods - based on the production cost of the marketable product.

In the process of rationing, private and aggregate standards are established. The standardization process consists of several successive stages:

Initially, the norms of the stock are developed for each element of the standardized working capital. The rate is a relative value corresponding to the volume of stock of each element of working capital. As a rule, the norms are set in days of stock and mean the length of the period provided by this type of material assets. The stock rate can be set as a percentage, in monetary terms, to a certain base.

Working capital rates are developed at the enterprise by the financial service with the participation of services related to production and supply and marketing activities.

Further, based on the rate of stock and consumption of this type of inventory, the amount of working capital required to create standardized stocks for each type of working capital is determined. This is how private standards are determined.

And, finally, the aggregate standard is calculated by adding the individual standards. The working capital ratio is the monetary expression of the planned stock of inventories, the minimum required for normal economic activity enterprises.

The standard of working capital advanced in raw materials, basic materials and purchased semi-finished products is determined by the formula:

H \u003d Npz * Cp, Where

H - standard of working capital in stocks of raw materials, basic materials and purchased semi-finished products;

С пз - the average daily consumption of raw materials, materials and purchased semi-finished products;

Н пз - stock rate in days.

Average daily consumption for the range of consumed raw materials, basic materials and purchased semi-finished products is calculated by dividing the amount of their costs for the corresponding quarter by the number of days in the quarter.

Determining the stock rate is the most time consuming and important part of rationing. The stock rate is set for each type or group of materials. If many types of raw materials and materials are used, then the rate is set for the main types, which occupy at least 70-80% of the total cost.

Working capital ratio in work in progress must ensure a rhythmic production process and an even supply of finished products to the warehouse. The standard expresses the value of products started, but not completed by production, at various stages of the production process. As a result of rationing, the value of the minimum backlog should be calculated, sufficient for the normal operation of production.

Rationing of working capital in work in progress is made by groups or types of products for each department separately. If the range of products is diverse, then the standard is calculated for the main products, which make up 70-80% of its total mass.

The working capital ratio in work in progress is determined by the formula:

N \u003d Nnp * Svpwhere

Svp - one-day costs of gross production;

ННп - the rate of working capital for work in progress,

Nnp \u003d PC * Kn

PC - the duration of the production cycle in days;

Кн - coefficient of cost increase.

One-day costs are determined by dividing the costs of the gross (marketable) output of the corresponding quarter by 90.

The standard for the item "Prepaid expenses"calculated by the formula:

H \u003d Rng + Rpl-Rsp,where

Rng - the amount of deferred expenses at the beginning of the planned period;

Рпл - expenses incurred in the planned year;

Rsp - expenses included in the cost of production of the planned period.

Working capital ratio for finished productsdetermined by the formula:

H \u003d Hgp * Wtp, Where

Wtp - one-day release of marketable products

Нгп - the rate of working capital for finished products.

Thus, private standards are established for each element of the standardized working capital. Then the aggregate standard of working capital is determined, reflecting the general need of the enterprise for its own working capital in the planning period, by adding private standards.

Next, it is necessary to compare the resulting aggregate standard with the aggregate standard of the previous period in order to determine how the enterprise's need for its own circulating assets changes in the planning period.

The difference between the standards is the amount of an increase or decrease in the standard of working capital, which is reflected in financial plan enterprises.

Rationing of working capital

Sources of Working Capital

Own (at the time of commissioning) cover the minimum requirements for inventories, work in progress, state-owned enterprises, and deferred expenses; Borrowed: short-term loans, with the help of which a temporary additional need for working capital is satisfied.

Rationing of working capital in industry is carried out according to the following elements:

Basic materials

Purchased semi-finished products

Complex products

Supporting materials

Fuel

Spare parts

CWP and homemade semi-finished products

Future expenses

Finished goods in stock

Unregistered shipments

Rationing of working capital is calculated in working capital at the end of the planned year. Rationing of working capital is the minimum amount of each type, ensuring the implementation production program... In the very general view the standard of a certain element of circulating assets is the product of one-day costs by the daily stock rate.

There are several methods for standardizing the working capital of an enterprise:

a) in production inventories

Production stocks (PZ)

Raw materials (1)

Basic materials (2)

Purchased semi-finished products (3)

Auxiliary materials (4)

Repair supplies (6)

Working capital ratio by (1); (2) and (3):

2H 0 \u003d 2C 0 * 2D

2С 0 - the average daily consumption of raw materials (determined by dividing the amount of costs of this type of PP for the corresponding quarter, depending on the industry, by the number of days in a quarter (90 days))

2D 0 - stock rate in days (reflects the number of days during which the circulating assets are in inventories):

Transport

Preparatory

Technological

Warehouse

Insurance

Transport stock is available at enterprises remote from suppliers at a considerable distance, when there is a gap in time between the payment of a cash document and the arrival of the goods at the consignee's warehouse. Preparatory stock is associated with the need for acceptance, unloading, sorting of materials. A technological stock is created in cases when a given type of raw material needs preliminary processing to impart certain properties. Current stock is the main type of stock, it is necessary for the continuous operation of the enterprise. Its value is determined by half the length of the supply interval. The safety stock ensures the operation of the enterprise in case of unforeseen deviations in supply; it is set at half of the current stock.

The working capital ratio for (4) is established for two main groups of materials:

1. group - materials consumed regularly and in large quantities trail. the standard is calculated in the same way as for (1), (2) and (3);

2. group - auxiliary materials used in production rarely and in small amounts. the standard is calculated analytical method based on evidence for a number of years.

The working capital ratio for (5) is determined for one-time and negotiable purchased and own production

One-time - equating to the time of turnover (stay) of containers occupied by raw materials or materials,

Negotiable - based on its one-day turnover, as well as the duration of one turnover in days from the established date of its payment to the submission of a payment request to the bank.

The working capital ratio for (6) in most industrial enterprises is set at 1000 rubles. book value of machinery, equipment and vehicles.

The standard for (7) is set separately for these items in operation and in stock.

b). in work in progress

From the technical point of view, NVP is an unfinished product due to its presence at various stages of technological processing. In economic terms, the amount of cash costs of the enterprise for the implementation of the process. It includes:

The cost production costs involved in production;

Salary;

Depreciation;

Other costs.

The norm of working capital for CWP is determined by the formula:

2H 0zd \u003d 2 P 0 * 2 K 0nz

2P 0 - the duration of the production cycle (the residence time of products in the CWP)

2К 0нщ - cost growth rate

Increase in costs

2З 0е + 2 00.5 * 2З 0н

2K 0 \u003d ----------- with an equal increase in costs

2З 0е - one-time costs at the beginning of the production cycle (consumption of raw materials and basic materials)

2З 0н - growing costs (salaries, etc.)

2С 0 - product cost

in). in finished products

Finished products manufactured at an enterprise and an association characterize the transition of working capital from the sphere of production to the sphere of circulation. This is practically the only element of circulation funds that is standardized. Ensuring regular shipment of SOEs to consumers requires a selection of products in batches of the appropriate assortment, their accumulation, packaging, loading and transportation to the departure station, as well as the execution of settlement documents and their delivery to the bank for collection.

Rationing of working capital for SOE stocks is carried out on the basis of the formula:

Нгг - standard working capital for finished products

Нз - stock rate in days

TP - the volume of commercial products

D - the number of days in the quarter

Nz is calculated as a weighted average based on stock rates for types or groups of products and they were given in the total volume of finished products.

Improving the rationing of SOE stocks should be based on rational measures for its systematic and rhythmic shipment, storage in a warehouse, and improvement sales activities, as well as the organization of cash payments.

CONCLUSION

When you talk about fixed assets and working capital, the question of the effectiveness of their use and application necessarily arises.

Improving the efficiency of fixed assets is carried out due to the faster development of new capacities, increasing the shift in the work of machines and equipment, improving the organization of the material and technical base, repair service, improving the qualifications of workers, technical re-equipment of enterprises, modernization and organizational and technical measures.

In the system of measures to improve efficiency social production an important place is occupied by the issues of rational use of working capital in all spheres of human activity, especially in industry.

With the most economical use of circulating assets, with freed up resources, it is necessary to strengthen the financial condition of enterprises and associations, increase the material interest of workers and employees in increasing the efficiency of industrial production.

The most important element of the organization of working capital is their rationing.Through rationing the need of enterprises for working capital ... The correct calculation of this need is important, since the constantly required minimum amount of funds is established to ensure the stability of the financial condition of the enterprise.

In the process of standardization of working capital, norms and standards are developed.

The rate of working capital (N) is the value corresponding to the minimum, economically justified volume of inventories.It is set, as a rule, in days. Working capital rates depend on: rates of consumption of materials in production; standards of wear resistance of spare parts and tools; duration production cycle ; conditions of supply and sale; the time to give certain materials to certain properties necessary for industrial consumption; other factors.

Being a relatively stable indicator, the norm has been valid for several years. The need to clarify it is due to significant changes in the technology and organization of production, delivery conditions, product range, changes in prices, tariffs and other indicators.

Working capital ratio (W) ¾ the minimum required amount of working capital providing entrepreneurial activity enterprises.If the norms of working capital can be established for a relatively long period, then the norms are calculated for a specific period (year, quarter, month).

There are the following main indicators that determine the standard of the working capital of each enterprise:

¨ production volume and implementation products;

¨ production costs , storage and sale of products;

¨ norms of working capital for certain types inventory items expressed in days.

Distinguish aggregate standard(total working capital) and private standards(the amount of funds for the relevant types of working capital). Calculation formula private regulation for a separate element of working capital can be expressed as follows:

where W i ¾ standard i-th element of working capital, thousand rubles ( i = 1, … n).;

H i ¾ norm i-th element of working capital in days;

ABOUT ¾ turnover for this element of working capital for the period (consumption of inventory items according to the estimated production costs, cost price gross output, volume of marketable output at production cost);

T¾ the duration of the period in days (therefore, the ratio represents the one-day consumption of a given element of working capital).

One-day consumption (or output) at enterprises with an evenly increasing volume of production throughout the year is calculated according to the cost estimates for the fourth quarter of the coming year. This is due to the fact that the obtained standard of working capital is valid at the end of the planned period (year, quarter) and must meet the production needs at the beginning of the next period. In conditions of seasonal production, one-day consumption is calculated according to the estimated cost of the quarter with a minimum volume of production: the need for working capital in excess of the minimum is covered borrowed funds .

Example 8.4. Calculation of the value of the one-day consumption of raw materials, basic materials and purchased semi-finished products. Consumption of raw materials, basic materials and purchased semi-finished products in the IV quarter of the planned year according to the estimated production costs amounted to 1,800 thousand rubles. taking into account the costs of procurement and the cost of the waste sold. One-day consumption is 20 thousand rubles. (1800k: 90), where 90 is the number of days in the quarter.

The basic principles of rationing of working capital are determined depending on the conditions of management, development market relations , corporatization.

In accordance with the principle of planningrationing of working capital is carried out according to estimates of costs for production and non-production needs; according to consumption rates and stocks of material assets; according to plans of organizational and technical measures aimed at improving production; according to plans for the sale of finished products and terms of payments.

The principle of consistencyreflects the organic relationship of financial norms with the system of applied technological norms and standards ... Financial norms are based on technological norms and standards (one-day consumption of material resources, duration of production cycle operations, etc.). In turn, financial norms, through a system of established standards, have a stimulating effect on the improvement of technology and production technology, accelerated implementation of achievements scientific and technological progress ... Increasing the consistency in the rationing of reserves is an important condition for enhancing the balance of plans, contributing to a better use of resources.

Principle of scientific validityassumes that the process of rationing of working capital is based on the achievements of scientific and technological progress, the use of progressive methods of rationing. At the same time, the creation of a scientifically grounded system of norms and standards for working capital is a means of mobilizing internal reserves. The regulatory framework should be progressive. To do this, stock rationing is preceded by an analysis of production and financial activities, proposals are being developed to improve the organization of production, measures are planned to increase the efficiency of resource use and accelerate the turnover of inventories.

When rationing working capital three main methods are used: direct calculation, statistical-analytical and coefficient method.

Using direct calculation methodthe standard is calculated on the basis of the production program, production cost estimates, standards for the organization of the production process, a logistics plan, a portfolio of contracts and orders, a plan to improve production efficiency.

The rationing process includes:

¨ development of stock norms for certain types of inventory items of all elements of standardized working capital;

¨ determination of frequent standards for each element of working capital;

¨ calculation of the aggregate working capital ratio.

Aggregate working capital ratio (W OS ) , the definition of which ends the process rationing of working capital at the enterprise, calculated as the sum of private standards: for production stocks ( W PZ), work in progress (W Refinery), deferred expenses ( W BPO) and stocks of finished products ( W GP):

W OS \u003d W PZ + W Refinery + W RBP + W GP. (8.14)

The direct calculation method allows you to most accurately calculate the needs for working capital and is used in the current financial planning when determining the standard for the main elements of working capital.

Statistical analytical methodinvolves the determination of the standard of working capital in the amount of average actual balances, taking into account various factors affecting the formation of working capital. This method is used in cases where significant changes are not expected in the operating conditions of the enterprise and the funds invested in material values and stocks take up large specific gravity... The method is applicable mainly for prospective and forecast calculations of the need for financial resources.

The disadvantages of this method are that when using it, the specific operating conditions of the enterprise in the planned year are not fully taken into account, which does not always ensure the accuracy and validity of the calculations.

Example 8.5. Calculation of the aggregate working capital ratio using the statistical and analytical method. The indicators required to calculate the need for working capital are given in table. 8.4.

Table 8.4. Data for calculating working capital requirements

When calculating the planned need for working capital, the analytical method takes into account, firstly, the planned growth sales proceeds and secondly, acceleration turnover of working capital .

Based on the planned acceleration of the turnover of working capital (reducing the duration of one turnover in days), the planned value of the load factor is determined by the formula:

According to the example (Table 8.4) K Zpl \u003d 0.55 ´ 0.96 \u003d 0.5280. Taking into account the planned coefficient of working capital utilization and changes in the volume of sales, the aggregate standard of working capital for the enterprise in the planning period is calculated ( W OSpl) by the formula:

According to the example (Table 8.4) W OSpl \u003d 165 980 ´ 1.15 ´ 0.5280 \u003d 100 783.060 thousand rubles.

Calculation of the working capital ratio using the coefficient methodis carried out on the basis of the ratio between the growth rates of production and sales of products and the size of normalized working capital in the base period. When this method rationing current assets are divided into:

¨ dependent on changes in the volume of production (raw materials, materials, work in progress, finished products, etc.) ¾ Group I;

¨ not proportionally dependent on the growth of production volume (spare parts, special equipment, deferred costs, etc.) ¾ Group II.

For the first group of working capital, the standard is determined based on their value for the reporting year, the growth rate of volume indicators and the possible acceleration of the turnover of working capital.

For circulating assets that do not change depending on the growth of production, the standard is set at the level of average actual balances over a number of years. The method of coefficients is used to calculate the working capital ratio in long-term planning.

Example 8.6. Calculation of the aggregate working capital ratio using the coefficient method. Table 8.5 shows the indicators and their numerical values \u200b\u200bfor calculating the need for working capital.

Table 8.5. Data for calculating working capital requirements

The calculation of the need for working capital for group I takes into account the planned growth in production volumes and the acceleration of the turnover of working capital:

In the example (Table 8.5) \u003d 53,519.86 ´1.2557 ´0.96 \u003d 64521.63 thousand rubles.

The calculation of the need for working capital for elements that do not depend on the volume of production (group II) takes into account only the planned change in the turnover of working capital:

In the example (Table 8.5) \u003d 37,769.14 ´0.96 \u003d 36,258.37 thousand rubles.

Thus, the cumulative working capital standard will be 64521.63 + 36 258.37 \u003d 100 780 thousand rubles.

When standardizing current assets, measures to accelerate their turnover should be taken into account due to:

¨ introduction of scientific and technological progress achievements into production;

¨ improving the organization of material and technical supply and marketing of products;

¨ development wholesale trade;

¨ improving the organization of the production process;

¨ reducing the rates of consumption of material resources and labor costs;

¨ shortening the duration production cycle ;

¨ acceleration of shipment of products, as well as document flow.

Rationing of working capital is ultimately aimed at obtaining the optimal value of their elements, which ensures a close relationship between production and financial indicators activities of the enterprise.

With the development of market relations and the strengthening of settlement and payment discipline, the value of rationing of working capital increases. The availability of sufficient working capital provides enterprises with expanded reproduction, modernization and restructuring. In this regard, there is a need to improve the quality of calculations, to establish progressive, economically sound norms and standards for working capital. In this process, electronic computers should be widely used.

For self-control of the knowledge gained, complete training tasks from the set of objects for the current paragraph

The decision on the standardization of working capital for individual elements and the determination of the total need for working capital for the planned period is taken independently by the organization. It determines the planning frequency and calculation methods.

When standardizing working capital in practice, it is necessary to adhere to the most general approaches: for raw materials, basic materials, fuel, work in progress, finished products, the stock rate is determined in days; for spare parts for repairs, containers, overalls, household equipment - in percent or rubles; one-day consumption of raw materials and one-day output of products must be calculated according to forecast data for the IV quarter of the planned year; in calculations, the year is taken as 360 days, the quarter - 90, the month - 30 days.

The determination of the need for working capital is based on the formula for calculating the working capital ratio .

Working capital ratio is an estimated cost value that reflects the minimum need for working capital. Standards are private (for individual elements and items of working capital) and general. The general (aggregate) standard of working capital is the sum of private standards.

Scientifically grounded rationing of working capital allows you to determine the approximate volume of working capital, which is required to carry out the continuity of the process of production and sale of goods.

Standard - this is the minimum working capital that the organization must have constantly.

If the actual working capital is below normative values, then this can lead to interruptions in the production and sale of goods and create financial problems.

The basis for determining the need for working capital is the following formula:

H \u003d H d * O p, where

H - standard of working capital (for a specific element);

Нд - the rate of working capital in days; Ор - one-day consumption of commodity and material assets (production output at cost price).

Rationing of working capital can be carried out by various methods.

1. Direct account.

2. Economic - analytical.

3. Method of coefficients

The essence direct counting method is as follows. The total need for working capital is determined as the sum of private standards for working capital. For each of the elements, the stock rate and daily consumption (release) are calculated, as provided by the above formula.

The direct counting method is the most accurate, but at the same time, the most difficult, as it requires knowledge of the methods for calculating the stock rate in days.

More simple is economic analytical method determining the need for working capital. Its essence is as follows. The calculation is made for individual elements and the total need for working capital is determined as the sum of private standards. In this case, the norms of stocks in days are calculated according to the accounting data as actually prevailing. First, according to the average chronological formula, the actual average balance of raw materials, materials, work in progress, finished goods for the reporting period is determined. Then this balance is divided by the actual one-day consumption of the corresponding values \u200b\u200bor the output of products at cost in the reporting period. The quotient of the division is the stock rate in days for a specific element that has developed at the enterprise.

To determine the working capital requirement, the stock rate in days should be multiplied by the planned one-day consumption (output) of the corresponding inventory.

Coefficient method - the need for working capital is determined by adjusting the corresponding standards of the reporting year for the growth of the production program. Using this method, inflation factors are also taken into account.

Rationing of working capital in stocks of raw materials, basic materials and purchased semi-finished products calculated on the basis of their average daily consumption (O p) and the average stock rate in days (N d). The average stock rate for a group of working capital is calculated as a weighted average.

The rate of working capital for each type or homogeneous group of raw materials, basic materials is determined by the formula: N d \u003d P + P + T + 0.5I + S

In this formula (P) - transport stock (characterizes the time spent by the paid materials on the way from the supplier to the buyer). This stock is necessary in cases when the time of movement of payment documents and material values \u200b\u200bdoes not coincide. Therefore, the enterprise (buyer) needs working capital for the time of the gap between the timing of the movement of goods and the workflow. The time for acceptance, unloading and storage (P) is usually 1-2 days. Technological stock (time for preparing materials for launching into production) (T) is needed for those materials that are subjected to additional processing before starting production, for example, drying lumber, cutting scrap, etc. This stock is also needed in cases where materials are selected to the size of the launch batch. The stock rate in days is set based on the technological features of production and the properties of materials.

The current (warehouse) stock (0.5I) is the most important and largest in size. Its dimensions depend on the average intervals between deliveries or on the frequency with which materials are put into production. Consequently, the more often the supply and launch of materials into production, the lower the rate of working capital in days, which is beneficial to the enterprise.

The current (warehouse) stock is usually assumed to be equal to half the average interval between deliveries.

The insurance (guarantee) stock (C) is the second largest stock. It is necessary in all organizations to guarantee a continuous production process in cases of violations of the conditions and timing of the supply of material values \u200b\u200bor failures with the shipment of finished products. Usually it is equal to half of the current stock.

The total stock rate in days is determined by summing up its individual components.

Rationing of working capital for auxiliary materials has its own characteristics.

Support materials are divided into two groups.

The first , the main species, consumed in large quantities (at least 50% of the total annual consumption).

The second , all other types of materials.

In the first group of auxiliary materials, the norms of working capital are determined in the same order as for raw materials, basic materials and purchased semi-finished products. The calculation is made by types of materials.

In the second group of auxiliary materials consumed in insignificant quantities, the norms of working capital are calculated as actually prevailing. To do this, the average actual balance of materials in the reporting year should be divided by the one-day amount of their consumption for the same period.

Having calculated the stock norms in days and the one-day stock of materials, the standard of working capital for the first and second groups of materials and the total working capital for this item is determined.

Rationing of working capital for work in progress using the direct account method is made according to the general formula:

The rate of working capital in days (N d) for work in progress is calculated by the formula:

where

(D) - the duration of the production cycle (includes the time from the first technological operation to the delivery of the finished product

to the finished product warehouse and is measured in calendar units of time);

(To n.z.) - characterizes the level of product readiness as part of work in progress, is calculated by the ratio of the cost of work in progress to the planned cost

Rationing of working capital for stocks of finished products - an important element of their planning.

Finished products are products completed by production and accepted by the technical control department.

The working capital ratio for stocks of finished products is determined by the general formula:

In the formula for calculating the standard of working capital for stocks of finished goods (O p) is a one-day release of marketable products in the planned year at production costs.

The stock rate in days (N d) for finished products in the warehouse includes: time for selection and packaging, marking of products in a certain range and quantity; time for completing batches of shipped products to the required size; transportation of finished products to the railway station or wharf and the time for loading and delivery of it to transport organizations.

With a large range of products, the main types of products are distinguished, accounting for 70 - 80% of the total output. The working capital rate for these types of products is determined as a weighted average and applies to all finished products in the warehouse.

The direct account method is rather complicated and laborious, therefore, enterprises widely use simplified methods of rationing working capital. For example, economic - analytical.

The essence of the economic - analytical (statistical and analytical) method of standardizing working capital is as follows: the standards are calculated for individual elements (items) of working capital, and the total need is determined as the sum of private standards. But at the same time, the stock rates in days are calculated according to the accounting data as actually prevailing.

To determine the standard of working capital for raw materials, materials or other element, the stock rate in days should be multiplied by the one-day consumption (release) of inventory items in the planned year.

It might be useful to read: