Costs and income of enterprises — страница 2

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enterprise has to have a system of accounting, managing and planning of costs and resources to finance its activities. Systems are constructed on the basis of income and costs. Resources of income for enterprises To define resources of income for enterprise all activities should be divided into: - main and operational activities (production and selling products and services); - financial activity (taking loans and giving them to other enterprises; enterprises’ taking part in activities of other companies; operations of enterprise on the financial markets, differences in exchange rates etc); - extraordinary items (operations that are not usual to activities of the enterprise). This division of activities is very important as it allows to define what part of income was received

from main activity, what part was received from other sources such as those that are unusual for a particular enterprise’s activities and cannot be considered as some constant source of income. So, in the system of financial management it is required to have following rates indexes: Income and profit indexes: a) net income from selling of products (providing services) – is gross revenue from sales minus value added tax, excise tax, returned products and price discounts. This index is the real base for further counting of profit index and evaluation of profitability; b) gross profit from sales – net income from sales minus production expenditures of sold goods. This index allows to analyze the effectiveness of production activity of the enterprise; c) profit (loss) from main

activity (operational profit or operational loss) – gross profit from sales minus management costs and sales costs. This index reflects the influence of management and sales costs to financial sales result; d) profit from financial activity – balance of income and cost in hand by financial activity. This index is needed for defining the profit from production and economic operations including such sources of profit as receiving interest and dividends, operations with foreign currency etc. e) profit from ordinary economic operations – sum of profits from main economic operations and profit from financial activity; f) extraordinary profit; g) profit (loss) before taxes. This index is the point from which the accounting profit transmits into taxable profit. Accounting (or

reported) profit – is the profit, which was counted in accordance with requirements of book keeping. Main target is to define the accounting profit – to show the effectiveness of enterprise’s activities for reported period. Book keeping is made for gathering and analyzing information about income and costs of the enterprise and about net result of activities for making management decisions in future periods. After the target was achieved the result (profit before taxes) should be adjusted in accordance with tax law of the country. So, the taxable profit is accounting profit, that was recounted in accordance with tax law requirements; h) net profit (net loss) – profit after taxes. In conditions of market economy it is the most important index of enterprise’s activity.

This index is always at the center of attention for managers and financial markets. The existence of the enterprise, working places for its employees, paying the dividends are depended on dynamics of net profit (http://www.bestreferat.ru/referat-68599.html). Income allocation The rights and opportunities of allocation and using of the income are very important for any enterprise because income is the main source of financial, production and social development, financial development of its employees. The system of income allocation and utilization should stimulate further development of current particular type of business and expansion to new directions. It should also increase the interest for making more money The order for income allocation and utilization for commercial

enterprise are defined by the methodology of income that is accepted in particular society at this stage of its development Current order of income allocation corresponds to current stage of market relations development, thus an enterprise should take part in forming the state budget. The rest part of the income should be allocated between owners and investors of the enterprise. If there were other financial resources the income should be allocated between them either in accordance with concluded agreements. State influence on the choice of directions of net profits is made through taxes, tax exemptions, and economic sanctions. Such system of income allocation began in 1964 in the Soviet Union. The system passed through three stages of development. The essence of the reform of