What is the capital of business | Molding and capital management on wat "crystal"
Capital is an accumulation of ways to protect the stock of economic benefits in the form of penny koshtіv and real capital goods, which are included in the economic process as an investment resource and the factor of volatility with the method of depriving income, the functioning of such in the economic factor planting on the base systems hour, risk and liquidity.
According to the groups of sources of capital, one can see exactly the same way - capital, which is obtained from internal channels, and capital, which is obtained from external vessels.
Capital, which is obtained from internal sources, characterizes the power and position of financial resources, which are formed without intermediary on the premises for the security of yoga development. The basis of the government's financial resources, which are formed from internal dzherel, is to become a capitalized part of the net income of the enterprise ("non-split income"). The basis of the positional financial costs, which are formed in the middle of the enterprise, is to become a stream of goiter for roses ("internal rahuvans of rahuvan").
Capital, which is radiating from the old dzherel, characterizes that part, as the posture of enterprise is formed. Vaughn hoards irradiations from the side like a vlasny, and positional capital. Warehouse dzherel tsієї groups of molding capital є dosit numerically and will be reportedly reviewed at the relevant branches.
For the national trust of the rulers of the capital, which is given to the government by the court, they divide the national (votchisnyany) and foreign capital, investments in the enterprise.
The national capital, which is blessed with entrepreneurship, allows the greater world to coordinate its government activity with the economic policy of the state. In addition, this type of capital, as a rule, is more accessible for small and medium businesses. At the same time, at the stage of the economic development of the country, the free national capital was occupied with more land, which does not allow the state to provide the subjects with the necessary pace of economic growth.
Foreign capital is radiating, ringing, with middle and great enterprises, creating a new economic activity. If you want to oblige the proposition of capital on the world market to be significant, wash it with the help of the state-owned subjects of the state, through the high level of economic and political risk for overseas investors.
Behind the forms of power of capital, which hopes for entrepreneurship, one sees private and sovereign yoga. Tsya klassifikatsija kapital vikoristovuetsya us before the process of forming the statutory fund of entrepreneurship. Vaughn is the basis of the vіdpovіdnoї klаsifіkatsії pripriєmstv vlastnostі vlastі.
Behind the organizational and legal forms of obtaining capital under the enterprise, one can see joint-stock companies, shares and individual ones. This podіl kapitalu vіdpovіdaє zagalnenіy klаsifіkatsії pridpriєmstv fоr organizational-legal forms of activity.
Shareholder capital is formed by undertakings, created by seemingly joint-stock partnerships (companies) of a closed type. Such corporate undertakings may have wide opportunities for the formation of capital from the old dzherel shlyahom shares. To achieve the high investment privability of such undertakings, their share capital can be formed with the participation of foreign investors.
The share capital is formed by partner enterprises, created in the form of partnerships with a fringed partnership, team partnerships, too. Such enterprises, and obviously the type of share capital, have gained the greatest breadth in today's minds.
Іndivіdualny kapіtal harakterizuє form Yogo zaluchennya at stvorennі іndivіdualnih of companies - sіmeynih i n t Y Suchasnyj minds іndivіdualnі pіdpriєmstva not Nabul wide slit rozvitku in nashіy kraїnі, at one hour from yak zarubіzhnіy praktitsі stink Je naybіlsh Masov (70-75% stanovlyachi zagalnoї kіlkostі.. all undertakings). The creation of new individual businesses is driven by the lack of start-up capital of businesses and the insufficiently high level of competition for the largest segments of the market of goods and services.
Behind the natural-speech forms of capital formation, the current economic theory sees the following: capital in penny form; capital in financial form; capital in material form; capital in non-material form. The investment of the capital of these forms is allowed by the legislation under the hour of the creation of new enterprises, the increase in the obligation of their statutory funds.
The capital of a penny form is the most wide-ranging yoga species, which gets lucky. The versatility of this type of capital lies in the fact that wines can easily be transformed into a form of capital, which is necessary for the establishment of state activity.
The capital of the financial form is obtained by the adoption of various financial instruments, which are contributed up to the first statutory fund. Such financial instruments can be shares, bonds, deposit accounts and certificates of banks and others. In votchiznyanіy gospodarska praktitsі zaluchennya kapital finansovoї formі vykoristovuєєє podpriyamstva real sector ekonomіki very rarely.
Capital in material form is obtained by the acceptance of various capital goods (machines, installation, budding, accommodation), syrovins, materials, beverages, and in other cases - by sight of other goods (important by trade).
Capital in non-material form is obtained by taking advantage of looking at various intangible assets, so as not to mum the speech form, but to take an uninterrupted fate from the yogi of the state's activity and molding profit. To what kind of capital is the right to capitalize on natural resources, patent rights to the selection of wines, "know-how", rights to crafts and models, trademarks, computer programs and other intangible assets.
According to the hourly period, you can see the capital of the dovgostrokovy (permanent) and short-stroke.
Dovgostrokovy capital, which is obtained by undertaking, is formed from power capital, as well as from positional capital with the term more than one fate. The succession of the hairy and double-line positional capital, formed by enterprise, is characterized by the term "permanent capital".
Short-term capital is lulled by acceptance up to one fate. Vіn is formed to satisfy the needs of the government of the government, connected with the cyclical government activities, the growth of the time of the conjuncture of the market.
After the stage of education to the economic process, capital is subdivided into two main types - winning and not winning in the economic process. Such a form of classification of capital signifies the status of one's obligation and allows one to reveal the potential of one's supplementary victoria in a particular period.
Capital, which wins in the economic process, characterizes it as an economical resource, getting to a suspenseful production with a method of loosing income.
Capital, which is not victorious in the economic process (or "dead" capital), is the part that has been accumulated before, for some reason, it has not yet taken victoria in the economic process. Such a capital does not only bring income to the vossnik, but wastes its real value in the process of saving from the form of “lost opportunities”.
Behind the spheres of winning in the economy, capital in the essential government practice is divided into two main types - winning in the real financial sectors of the economy. Such a podіl kapitalu may be a little smart character, the oskіlki is based on the vіdpovіdnіy klаsifіkatsії pridpriєmstv, not opіkіtії kapital, scho zdіysnyuyutsya in raznyh sectors ekonomіki.
Capital, victorious in the real sector of the economy, characterizes its wealth, profit in the enterprises of this sector - in industry, transport, the agricultural state, and trade. (While a single part of the capital of these businesses can be tied to operations in the financial market).
The capital, which wins in the financial sector of the economy, characterizes its wealth, debt in various financial institutions (sets) - in commercial banks, investment funds, companies, insurance companies, etc. (If you want a single part of the capital of these financial institutions, you can be without intermediary zadiya in the processes of real investment in the form of a virobnichesky vikoristannya).
Behind the direct victories of the government's activities, one sees capital, which is victorious as an investment resource; capital, which victorious as a virobnichiy resource; capital that wins as a credit resource.
Capital, victorious as an investment resource, to become the main part of the capital of enterprises, as real, and the financial sector of the economy, behind the investment process. On the undertakings of the first group, part of the capital is won more importantly for real investment (as a rule, in the form of capital contributions), and on the enterprises of the other group - for financial investment (as a rule, in the form of contributions to papers).
Capital, which is victorious as a virobnichiy resource, becomes the most important part of the capital of enterprises in the real sector of the economy. Tsya part of their capital is given to the uninterrupted production of products (goods, services).
Capital, which wins as a credit resource, becomes the most important part of the capital of such institutions of the financial sector of the economy, like commercial banks and non-banking credit institutions. Singing peace capital as a credit resource can be won in forms permitted by law and other financial institutions (factoring companies, leasing companies, etc.). Vykoristannya part of the capital of the commodity (commercial) credit under the enterprises of the real sector of the economy does not lie flat (which type of operation is carried out by them with additional capital, which is a vicarious resource).
Behind the peculiarities of winning in the investment process, they see a bunch of investments that are reinvested and disinvested in capital. Listed vidi characterize the operation of the victorious capital in relation to a specific object (instrument) of investment.
The amount of capital that is being invested characterizes the amount of formed investment resources directed towards the financing of a particular object (instrument) invested (otherwise, the capital stock is "investment portfolio").
Reinvestment capital characterizes a repeated investment in a specific object as an investment tool with the help of a net penny stream (net profits, depreciation repayments, etc.).
The disinvestment of capital characterizes the first part of the study of the investment object or the investment portfolio as a whole (the way to sell the various assets).
Behind the peculiarities of victoriousness in the manufacturing process, one sees the main capital and the turnover capital of the enterprise. p align="justify"> Characteristics of skin s of these types of vicarious capital were reported in the "turnover of capital" section.
Behind the equal zadiyanosti, in the practice of financial management, one sees a practicable and an unpractical capital.
Working capital characterizes that part of the economy, as it takes an uninterrupted share in the formation of income and the safe operation of the investment activity of the enterprise.
Non-practical capital (or "dead" capital within the framework of business) characterizes that part, as it is advanced on assets, so not to take an uninterrupted part in business different types operational and investment activities of the enterprise and the formation of income. The butt of which kind of capital is the capital of the enterprise, advances in the application of that possession, which do not win; stockpile and materials for production, taken from manufacturing; the products are ready, as soon as the next day, the buyers will drink at the link with the second of her lifeless yakosto.
For the equal risk of risk capital, it is divided into three main groups - risk-free capital; medium-risk capital; high-risk capital.
Risk-free capital characterizes that part, which is victorious for the construction of risk-free operations related to manufacturing or investment business.
Low-risk capital characterizes the low risk in both commercial and investment operations, the risk of any lower mid-market.
The middle-risk capital characterizes that part of the capital, which is typical in operations of an investment nature, the risk of which is approximately similar to the middle-income one.
High-risk ("venture", "speculative") capital characterizes its high-risk in operational activities, foundations on fundamentally new technologies and is associated with the release of fundamentally new products (the so-called "venture capital"), or in investment activities, financial investments in high-risk ("speculative") instruments (the so-called "speculative capital").
For vіdpovіdnіstyu vіdpovіdnіstyu vіdpіdnіstyu vikoristannya vіdіlyayuyut legal that "tіn'ovy kapital" scho vіkoristovuєє vіkoristovuєєy vіdіvіvієєy іy dіyalnostі іdpriyemstv. Widely victorious at the stage of the economic development of the country "thinovy" capital significant world є svoєridnoy reaction pripriєmtsіv on established power zhorstka "rules of the green" of the economy, nasampered, on the unrealistically high rіveny podatku dіny nіyаnіtіdіdіdі The growing obligation to win the "shadow" capital in the state government's activities to serve as a kind of indicator for the state of the low efficiency of the decisions taken at the gallery of taxable regulation of the win over capital under the responsibility from the position of achieving parity of interests as a power, and rulers of capital.
Regardless of how important it is to achieve a significant resemblance of the distinguished classificatory signs, we are no less able to show all the diversity of views of the victorious capital of the enterprise, backed by scientific terminology and the practice of financial management. A number of these terms will be examined further in the course of the work of specific nutritional management of business capital.
The essence of the task of managing the capital of business
Business capital management is directed to the achievement of the upcoming main tasks (Fig. 9.1):
1. Forming a sufficient commitment to capital, which will ensure the necessary pace of economic development of business. It is necessary to implement the project by way of assigning capital consumption from capital for financing the necessary assets for the acquisition of assets, the formation of financing schemes for working capital and non-current assets, the development of a system for entering various forms of capital from the transfer of capital.
2. Optimization of the distribution of the formed capital for the types of activities and direct victories. This task is realized by the way of achieving the most effective victories for capital in various types of business activities and government operations; shaping the proportions of the future victorious capital, which will secure the reach of the minds of the most effective functioning and the growth of the market rank of business.
3. Security of minds to reach the maximum profitability of capital for the minds of the transferred equal financial risk. Maximum dohіdnіst (rentabelnіst) kapіtalu Mauger Buti zabezpechena on stadії Yogo formuvannya for rakhunok mіnіmіzatsії serednozvazhenoї Yogo vartostі, optimіzatsії spіvvіdnoshennya Vlasna that pozikovogo vidіv kapіtalu scho zaluchaєtsya, zaluchennya Yogo in such forms SSMSC in specific Minds gospodarskoї dіyalnostі pіdpriєmstva generuyut nayvischy rіven pributku. Virishuyuchi zavdannya, it is necessary to remember that the maximization of the profitability of capital is reachable, sound, with a significant increase in the level of financial risks, scho ogo molding, oskolki mizh tsimi dvoma pokanikami osnuezok direct link. The maximization of the profitability of the molded capital is to be blamed for being safe in the midst of an acceptable financial risk, the specific equivalence of which is set by the rulers or business managers for the improvement of their financial mentality (one hundred steps of the accepted financial risk).
4. Safeguarding the minimization of the financial risk associated with the vicarious capital, while transferring equal profitability. As a rule, the profitability of the molded capital of the tasks of chi planning is far ahead, to the important managers, the reduction is equal to the financial risk of the operations, so as to ensure the achievement of profitability. Such a minimization of the level of risks can be secured by a way to diversify the forms of capital, which is possible, optimizing the structure of the cores of the molding, uniqueness of the other financial risks, effective forms of their internal and external insurance.
5. Provision of post-financial equivalence of entrepreneurship in yogo development. Such a competitiveness is characterized by a high level of financial stability and platform business at all stages of its development and ensures the formation of an optimal capital structure and advances in the necessary obligations for high-quality assets. In addition, financial equivalence can be secured by a rationalization of the stock of capital, which is formed, over the period of yogo radiation, zocrema, for the increase in the amount of permanent capital.
6. Ensuring a sufficient level of financial control over the enterprise from the side of your founders. Such financial control is secured by a controlling stake (a controlling stake in share capital) in the hands of cob co-owners of the enterprise. At the stage of further formation of capital in the development of entrepreneurship, it is necessary to keep abreast, and the acquisition of government capital from foreign sources led to the exercise of financial control and recognition of entrepreneurship by third-party investors.
7. Ensuring sufficient financial capacity of the enterprise. Vaughn characterizes the building of entrepreneurship to form financially necessary investment capital for the unsupported emergence of highly efficient investment propositions and new opportunities for accelerating economic growth. Necessary financial flexibility is ensured in the process of forming capital for the optimization of financial stability of high and low positions, long-term and short-line forms of income, lowering the level of financial risks, their own creditors and investors.
8. Optimization of capital turnover. Tse zavdannya is violating the path of managing the flows of various forms of capital to the process of okremikh cycles of the yogo circle for business; ensuring the synchronicity of the formation of all kinds of capital flows, connected with the operational and investment activities. One of the results of such optimization is the minimization of the average capital growth, which does not often win over the government's activity of business and does not take part in the formation of its income.
9. Security of timely reinvestment to capital. In connection with the changing minds of the old economic middle ground, or the internal parameters of the government activity of business, a number of directives and forms of victory for capital may not be safe for transferring the balance of income. In connection with this, an important role is played by nabuvay svoєchasne reinvestuvannya capital of the most profitable active operations, which will ensure the necessary level of efficiency in general.
The principles of forming the capital of the created enterprise
The main method of shaping the capital of business that is being created is to obtain a sufficient commitment to finance the receipt of the necessary assets, as well as to optimize its structure from the position of securing the minds of a distant effective recruitment.
The process of molding the capital of the enterprise has a number of features, the main ones being:
1. Before the formation of the capital of the created business, it is impossible to know the radiance of the inner core of financial assets, like at this stage of the life cycle of the day. So, the need for the power capital of the established enterprise can be satisfied with additional help, and the need for the positional capital - with the help of the flow of goiter for roses (rachunkіv narahuvan), for the cob of functioning of the enterprise were still formed.
2. The basis for the formation of the start-up capital of the established enterprise is the capital of the founders. Without making the first part of the power capital of the creation of a new enterprise, it is difficult to obtain a positional capital (the formation of the initial capital of the established enterprise, including with the help of the positional capital, can be seen only as a theoretical possibility and practically it is more rare).
3. Starting capital, which is formed in the process of creating a new enterprise, may be received by the founders in any form. With such yoga forms, one can perform koshti; different views of the main zasobіv (budіvlі, primіshchennya, cars, possessions); different types of material circulating assets (stocks of syrovin, materials, goods, raw materials); various intangible assets (patent rights to the vinification of wines, the rights to trade marks and models, the rights to the vindication of a trademark or a trademark, too); okremі see financial assets (differently see the valuable papers that are traded on the stock market).
4. The capital of the founders (participants) of the established enterprise is invested in a new form statutory capital. Yogo first expansion is declared by the statute of enterprise that is being created.
5. Features of the formation of the statutory capital of a new enterprise are determined by the organizational and legal forms of its creation. Tse molding is carried out under a regulating inflow from the side of the state. So, the state regulatory legal acts regulate minimum size the statutory fund of capital enterprises, created in the form of an open joint-stock partnership and a partnership with an obmezhenoyu v_dpovidalnistyu. The Corporate pіdpriєmstvam, stvoryuvanim in formі vіdkritogo aktsіonernogo tovaristva, reglamentuєtsya takozh CONDUCT OF emіsії aktsіy, obsyag pridbannya package aktsіy Yogo zasnovnikami, mіnіmalny obsyag pridbannya aktsіy usіma aktsіonerami in perіod peredbachenogo termіnu vіdkritoї pіdpiski that Pervin deyakі INSHI aspects formuvannya їhnogo kapіtalu.
6. Mozhlivostі that kololo dzherel zaluchennya pozikovogo kapitalu at the stage of creation of enterprise in the region of obmezheniya. Although the financial stakes have a firmness that it is a good idea to obov'yazkovo otrimayut their finances, the firmness should be seen as clearly overbought (especially in the minds of the transitional type of economy). Today's practice shows that the financing of a new business by creditors is foldable, and sometimes foldable. At the same time, at the first stage, the formation of the capital of the enterprise until its creation cannot be obtained in such a position, as the issue of bonds, a taxable loan, then.
7. Formation of the capital of the established enterprise with the help of positional and radiant nerves, sound, preparation of a special document - a business plan. The business plan is the main document that indicates the need for the creation of a new enterprise, in which the main characteristics and forecasted financial indicators are included in the final succession of distributions. The business plan for creating a new business has, as a rule, the following main indications: a huge need for start-up capital, which is necessary for the cob functioning of the business; a scheme for financing a new business, to promote it to the founders; ochіkuvani terms of return of invested capital to investors (creditors) and other deeds.
8. For the preparation of the business plan, the founders of the enterprise, which is being created, are responsible for creating the songs before the start of the capital. Values are related to the payment of labor costs to the business plan and financial obligations related to the debt. Before starting the capital investment, the sum of the statutory capital of the created enterprise, sound, do not turn on.
9. Risks associated with moldings (and distant victories) of the capital of business that are being created are characterized by a high level. It indicates a very high rank of vartost among the elements of positional capital, which is obtained at the stage of establishment of entrepreneurship.
At one time youmu pritamanni so nedolіki:
1. Obzazhenistvo obsyagu zaluchennya, zhe y possibilities of the current expansion of operational and іnvestіtsіynoї іyalnostі pripriієmstva іn the period of favorable conjuncture of the market at okremіh stages yogo life cycle.
2. High versatility in the por_vnyannі z alternative pozikovym dzherel molding capital.
3. It is not possible to increase the coefficient of profitability of the government capital for the income from the position of financial gains, but without such a profit it is impossible to secure the transfer of the coefficient of financial profitability of the activity of the economy.
Such, p_dpromnosti, ucho vikodistovuє lishe vlasny kartal, Maє Navich Finasієnt Stіkіst (yogo Krayfіtsієnt autonіj Dor_vnyuє Odinitsi), Alla Divo-Tempi Schoy Division (I can't seek the formation of a need for a sickness kon'yunkuri rink) not winning financially Possibility to increase the profit on capital investments.
Positional capital is characterized by such positive features:
1. To achieve a wide range of opportunities, especially for a high credit rating of the enterprise, make it obvious or guarantee the guarantor.
2. To secure the growth of the financial potential of the enterprise for the necessary expansion of the current assets and the increase in the pace of the increase in the obligation of the state government.
3. The lower part of the capital was equalized with the capital for the tax on the security of the effect of the "tax shield" (exclusion of the tax from the first service from the base of the tax when paying the tax on the profit).
4. Health to generate an increase in financial profitability (coefficient of profitability of government capital).
At that very hour of winning the positional capital, it may still be short.
1. The choice of this capital generates the most unsafe financial risks for the government activity of the enterprise - the risk of lowering financial stability and spending the cost of industrial activity. Rivne tsikh rizikіv zrostaє proportionally to the growth of the part of the victoria of the positional capital.
2. Active, formed for the amount of positional capital, generate a smaller (for less equal minds) rate of return, as it decreases by the amount of the loan amount, which is paid, in all forms (bank loan amount; leasing rate; vіdsotka for trade credit then).
3. High fallowing of the vacancy of the positional capital in the form of coliving conjuncture market. In a number of cases, with a decrease in the average rate of per-item loan on the market, the withdrawal of loans earlier (especially on a long-term basis) becomes invisible to the link with the presence of cheaper alternative credit resources.
4. The complexity of the procedure for obtaining (especially in the case of great creditors), the shards of credit resources to be deposited in the case of other subjects of the state (creditors), owing to a number of types of third-party guarantees, or force (with the guarantee of insurance companies, banks gospodaryuvannya hope, as a rule, on a paid basis.
In this rite, pіdpriєmstvo scho vikoristovuє pozikovy kapіtal, Got bіlsh Visokiy fіnansovy potentsіal Svoge rozvitku (for rakhunok formuvannya dodatkovogo obsyagu aktivіv) that mozhlivostі growth fіnansovoї rentabelnostі dіyalnostі but bіlshoyu mіroyu generuє fіnansovy rizik i zagrozu bankrutstva (zrostayut in mіru zbіlshennya pitomoї crowbars pozikovih koshtіv ). at the total sum of victorious capital).
A number of objective and subjective factors are added to the choice of financing schemes and specific forms of capital formation of the enterprise. The main s of these factors are:
1. Organizational and legal form of established business.
This factor determines us in front of the formation of a source of wealth capital by means of an uninterrupted contribution by investors to the statutory fund of entrepreneurship, which is being created, or by way of a source of acknowledgment or a closed subscription to shares.
2. Galuzev's features of the operational activity of the enterprise. The nature of these features determines the structure of business assets, their liquidity. Undertakings with a high level of capital investment due to a high proportion of non-current assets may sound a low credit rating and hesitate to focus on forming the capital of the power generation. On the other hand, the nature of Galuzev's features determines the difference in the operational cycle (the period of turnover of the working capital of the enterprise in days). The lower the period of the operating cycle, the greater the world (for other equal minds) can beat the positional capital, which is obtained from different gerels.
3. The expansion of the enterprise. The lower the ostentatious, the more the need for capital at the stage of creation of entrepreneurship, you can be satisfied with the money of your own yoga dzherel and navpaki.
4. Varity to capital, which is obtained from different gerels.
For the whole ninth, the rank of the positional capital, zaluchny z raznyh dzherel, sound lower, lower vartist of the power capital. However, at the same time, there are a lot of well-established sources of low incomes, the capital of the company is squandered in the face of the credit rating of the created business, form the credit security of those other minds.
5. Freedom of choice for financing. Not all dzherela are available for a few established businesses. So, for the cost of the sovereign and municipal budgets, they can only finance the most important state-owned and communal enterprises. It should also be worthwhile and the possibilities of taking out undertakings of large and small sovereign credits, free financing of undertakings from the side of non-state financial funds and institutions. That is why the range of available cases for the capital of business, which is being created, is reduced to a single alternative.
6. Conjuncture of the capital market. I’m going to fall into the situation of conjuncture growing, and the variance of the positional capital, stashed from different dzherel, is decreasing. With a significant increase in forecasting rates, the differential financial leverage can reach a negative value (with any variation in position capital leading to a bitcoin operational activity of the enterprise that is being created).
7. Riven podatkuvannya pributku. At times of low rates, the surpluses of both the appointed victoria are created by the admission of taxable pilgrims from the surpluses, the difference in the vartost of the damp and position molded capital is reduced. This is why the effect of the tax corrector is changing. At the minds of the best, we form the capital of the created enterprise with the help of the power of the dzherel. At that very hour, for a high rate of subsidization of profits, the efficiency of obtaining capital from the positional jacks is significantly increased.
8. Peace accepted by the founders of the riziku for the formation of capital. Rejection of high rіvnіv rizikiv form the conservative pіdkhіd zasnovnіkіv to finance the creation of a new enterprise, in which the basis for becoming the capital of power. The I navpaki, pragnennya otrimati in maybutnomu Visokiy Prybutok on vkladeny Vlasnyi kapіtal, nezvazhayuchi on Visokiy rіven riziku torn down fіnansovoї stіykostі pіdpriєmstva scho stvoryuє, formuє Aggressive pіdhіd to fіnansuvannya new bіznesu at Money Does pozikovy kapіtal vikoristovuєtsya in protsesі stvorennya pіdpriєmstva as much mozhlivomu rozmіrі.
9. Tasks of the concentration of the power capital for the security of the necessary financial control. This factor determines the proportions of the formation of the power capital in the joint-stock company. Vіn characterizes the proportions of the total subscription to shares, bought by the co-founders and other investors (shareholders).
The appearance of the transfer of officials allows for the purposeful selection of the financing scheme and the structure of the fundraising capital for the hour of business establishment.
Capital management
The essence of the concept of capital investment lies in the fact that, as a factor of variation in the investment resource of capital, whether it be in any form, it may be equal, it is guilty that it is responsible for the process of irradiation in the economic process.
The process of estimating the value of capital is successively involved in undertaking the following three stages:
Evaluation of the value of the okremikh elements of the power capital of the enterprise.
Estimation of the value of the okremikh elements of the positional capital, which is obtained by undertaking.
Estimation of the average value of the capital of the enterprise. Let's take a look at the features of that methodical toolkit for assessing the variability of the capital of the enterprise at the borders of the skin resurfacing stages.
1. The versatility of a functioning government capital can be the most important basis for the rozrahunka in view of the stellar data of the enterprise. The process of such assessment is covered by:
a) the average sum of the victorious power capital in the summer period for the balance sheet. This pokaznik is the output base of the sum of the wealthy capital with the improvement of the current market assessment. Rozrahunok tsgo pokaznika zdіysnyuєtsya for the method of average chronologically low internal svіtny periods;
b) the average amount of victorious power capital for the current market assessment. The methodology for the rozrahunka of this show was laid out earlier;
c) the amount of payments to the vlasniks of the capital (in the form of loans, dividends, etc.) for the net profit of the enterprise. Tsya sum and є that price, like a business to pay for the victory of the capital of the Vlasniks. In most cases, the price is set by the vlasniks themselves, setting up the amount of dividends on capital investments in the process of raising net profits.
The versatility of the functioning government capital of the enterprise in the summer period is assigned to the following formula:
de SKfo - varity of the functioning government capital of business in the summer period, %;
NPV - the amount of net income, paid to the officials of the enterprise during the process of distribution for the summer period;
SC - the average amount of the power capital of business in the summer period.
a) the variance of a commodity (commercial) loan, which is supposed to be in the form of a short-term line of payment, at first glance appears to be zero, the oscills are valid for commercial practice, which was formed, the line of rozrahunkiv for the delivered products within the agreed term (as a rule, before payment is not subject to. In other words, the name of the form of credit looks like a financial service, which is hoped for by a worker.
Prote really is not so. The variability of such a skin loan is assessed by the amount of the reduction in the price of the products, with a fixed preparation payment for it. According to the contract, an extra line of payment is allowed no more than a month from the day of delivery (withdrawal) of products, and the price reduction for the preparation payment becomes 5%, the cost of the monthly payment of the received commodity credit, and the repayment of the loan becomes 3% x6 / 30: 5% x6/30: = 60%. In this rank, at first glance, a cost-free loan of such a commodity credit may appear more expensive for the rank of the loan of positional capital.
Razrahunok vartosti commodity credit, which is expected in the form of a short-line payment, is based on the following formula:
de STKk - the variance of a commodity (commercial) loan, which is based on a short-line payment,%;
TsS - price reduction for fixed preparation, payment for products ("payment against documents"), %;
SNP - the rate of tax on surplus, expressed as a decimal fraction;
PZ - the period of payment for the payment for the products, in days.
Vrakhovuychi, scho varіst zuchennya tsgo type pozikovogo kapital wear prihovany character, the basis of management tsієyu varіstyu become obov'yazková її in rіchnіy stavtsі on skin commodity (commercial) credit, scho hopes, and її porіvnyannya z varіvnyannja z varіtіvіvі bank. Practice shows that it is smarter to take a bank loan for a regular non-gay payment for products and for an additional price reduction, without using this form of a commodity (commercial) loan.
b) the variability of a commodity (commercial) loan in the form of a double-line payment with a bill of exchange drawn up is formed on the quiet minds of the bank itself, it is against the responsibility of the bank to indemnify at the cost of the price reduction for the preparation of the payment for the products. Razrahunok vartosti tsієї forms of commodity (commercial) credit zdіysnyuєtsya for the following formula:
de STKv - variance of a commodity (commercial) loan in the form of a long-term line of payment with a bill of exchange issued,%;
PKv - rate per bill credit, %;
Spn - the rate of profits, expressed as a decimal fraction;
TsS - rozmir tsіnovoї znizhki, scho hopes the postal worker pіd hour zdіysnennya prіvkovkogo payment for produktsіyu, expressions decimal fraction.
Managing the variant of the form of a commodity loan, like a bank, is started to search for options for the supply of similar products, which will minimize the increase in the price of vartost.
4. Varity of in-line goiters for undertakings for rozrahunkas that the middle-ranked varsity of capital is paid for at a zero rate, oskolki for cost-free financing of undertakings with the help of this type of positional capital. The sum of these crops is mentally equaled to the power capital less with the rozrahunka standard for the security of business with the power of the money; in all other cases, part of the flow goiter is accepted as a short-line study of the position capital (no more than one month). Oskіlki terminy vyplat tsієї naruhovanoї zagorgovannostі (іz zarobitnoї pay, podtkіv, voskhovannya koshko) suvoro determinirovanі, it can lie up to kerovannogo finansuvannya z position valuation vartosti capital.
From the improvement of the assessment of the varity of okremy warehouse elements of the positional capital and the part of the skin z of these elements in the upper yogo sum, the average varity of the positional capital of the enterprise can be determined.
III. Estimation of the average value of the varity of the capital of the enterprise is based on the elemental valuation of the varietal value of the skin s yoga warehouse parts. The results of the element-by-element evaluation of the capital value of the capital are first grouped in the table of the offensive form (Table 9.1):
From the improvement of the guidance of the weekend indicators, the average value of the capital (SBC) is determined, the principle of the formula for the rozrahunka is as follows:
de SBK - the average value of the capital of the enterprise;
Сi - varity of a particular element of capital;
Ui - pet vaga of a particular element of the capital of the global sum.
The average value of the capital is insured, which is the main criterion indicator for evaluating the effectiveness of the formation of business capital.
Capital structure management
The structure of capital is a combination of all forms of high and low financial resources, who win under the process of their government activity for the financing of assets
The process of financial management of capital optimization of its structure is one of the most important and folding tasks.
The optimal structure of capital is also the spіvvіdshennya vikoristannya vlaûní і pozikovyh koshtіv, which will ensure the most effective proportion between the coefficient of financial profitability and the coefficient of financial stability of the enterprise, etc. maximize your market price.
One of the mechanisms for optimizing the structure of business capital is financial leverage.
Financial leverage is characterized by the acceptance of low-cost assets, which contributes to the change in the coefficient of profitability of government capital. In other words, financial leverage is an objective factor, which is to blame for the appearance of low costs in the contract of victory over capital gains, which allows you to take additional income for government capital.
Pokaznik, which reflects the equivalence of the additionally generated profit on the government capital for different parts of the balance sheet, is called the effect of financial leverage. Vіn razahovuєtsya for the following formula:
de ETF - the effect of financial leverage, which affects the increase in the coefficient of profitability of government capital,%;
SNP - the rate of tax on surplus, expressed as a decimal fraction;
KVR - coefficient of gross profitability of assets (setting of gross cash flow to the average quart value of assets), %;
PC - the average amount of income for a loan, which are paid by the company for the same amount of position capital,%;
ZK - the average sum of the victorious undertaking of the positional capital;
SK - the average amount of the power capital of the enterprise.
Let's look at the mechanism of molding the effect of financial leverage on the stepping butt (Table 9.2):
Looking at the given data, you can tell that on the undertaking "A" the effect of financial leverage is daily, the shards are not victorious in their own government activity position capital. On the undertaking "B", the effect should be:
Vіdpovіdno to podpriєmstva "B" tsey effect to become:
From the results of the investigations, it can be seen that more than a large sum of money won by the capital, then a greater amount of money will be taken away from the capital.
Looking at the earlier formula for the analysis of the effect of financial leverage, you can see in it three main warehouses:
1) The taxable corrector of financial leverage (1-Cnp), which shows how the world shows the effect of financial leverage in the link with a higher level of income tax.
2) Differential of financial leverage (CVR - PC), which characterizes the difference between the coefficient of gross profitability of assets and the average cost per credit.
3) Coefficient of financial leverage (LC / SC), which characterizes the amount of position capital, victorious undertaking, for a single government capital.
The vision of these warehouses allows the goals to be directly affected by the effect of financial leverage in the process of financial activity of business.
It is not enough for the tax corrector of financial leverage to fall due to the activity of the business, the profit rate is set by the legislator. At one time, in the process of managing financial leverage of differentiation, a flexible corrector can be used in such situations:
a) for different types of business activities, a differentiation in the rate of income subsidy has been established;
b) as a rule of thumb gifts with a surplus;
c) to carry out their activity in the free economic zones of their country, to deprive the colony of the subsidiaries of the business;
d) as soon as the okremі subsidiaries firms of the enterprise zdіysnyuyut their activity with the powers from the lower eve of the income tax.
In these cases, influencing the Galuzev or the regional structure of the distribution (and in the event of a warehouse income for equal її podatkuvannya), it is possible to lower the average rate of surplus income and increase the contribution of the financial leverage tax corrector to the other effect (for their effect).
The differential of financial leverage is the head mind, which forms the positive effect of financial leverage. This effect is manifested only in the way that the gross profit is generated by the assets of business, outweighs the average cost of a loan for a loan, which wins (which includes not only the direct rate, but tobto. yakscho differential of financial leverage is a positive value. If the differential of financial leverage is more positive, then more for other equal minds there will be a yoga effect.
In connection with the high dynamism of the wine indicator, it will require constant monitoring of the process of managing the effect of financial leverage. This dynamism of delusions is low for officials.
Nasampered, in the period of deterioration of the conjuncture of the financial market (nasampered, short-term obligation of propositions on new free capital), the number of positions can be sharply increased, having outweighed the level of gross profit, which is generated by business assets.
CRIM, ZNIZHENIA INSTRUMENCE IN THE PROCESS OF PIVEDINE OF POINT POINTAGE KAPTALLY, SHO VICTERSHIPS, CALCULATE TO ZBILESHNY RIZICA OF YOH BUSINESS, SHO ZMUSUєB Creditorіv Zb_lshuvati R_VENA Betting for credit C loaning is incorporated to non-remedy for Danasy Riczik. For the least equal risk (and the equal equal to the total rate per credit), the differential of financial leverage can be reduced to zero (with any variation of position capital, it will not give an increase in the profitability of public capital) shards of a part of pure income, which is generated by high capital, time to serve the positional capital, which wins, at high rates).
Nareshti, during the period of worsening of the conjuncture of the commodity market, the sale of products will soon begin, and the increase in the gross income of production in the form of operational activity. In the minds of the negative value of the differential of financial leverage, it can be formed to form a loan at fixed rates for a decrease in the coefficient of gross profitability of assets.
The formation of a negative value of the differential of financial leverage, for whatever reason, for the sake of reinsurance, there are always reasons to bring down the coefficient of profitability of government capital. And here, the adoption of positional capital gives a negative effect.
The coefficient of financial leverage is important (leverage in the literal translation is important), which is a multiplier (in proportion to the multiplier or the coefficient is changed) positive and negative effect, which is taken for the ratio of the second differential value. When positive znachennі diferentsіala whether yaky prirіst koefіtsієnta fіnansovogo leverage viklikatime slit bіlshy prirіst koefіtsієnta rentabelnostі Vlasna kapіtalu, while negative znachennі diferentsіala prirіst koefіtsієnta fіnansovogo leverage prizvoditime to slit bіlshogo rate znizhennya koefіtsієnta rentabelnostі Vlasna kapіtalu. In other words, the increase in the coefficient of financial leverage multiplies an even greater increase in its effect (positive value of the negative deposit against the positive value of the negative value of the financial leverage differential). Similarly, the decrease in the coefficient of financial leverage leads to a beneficial result, reducing the positive or negative effect by the greater world.
In this way, with a constant differential, the coefficient of financial leverage is the main generator, as an increase in the amount of capital gains on government capital, and the financial risk is to spend the same profit. In a similar way, with the constant financial leverage coefficients, the positive and negative dynamics of the yogic differential generates as an increase in the sum of the surplus on the power capital, so the financial risk is spent.
Knowing the mechanism of the injection of financial leverage on the balance of capital gains and the balance of financial risk allows for the purposeful management of both the rank and the structure of capital of business.
- emіsії, scho vinikaє vіd realіzatsії introduced earlier shares for the price, scho transferring their nominal value;
- that ability of the company, which caused the additional issue of shares;
- increase in capitalization of the enterprise after the first revaluation, for example, through the increase in the value of the main penny deposits;
- viniknennya exchange rate, as can be vindicated from the statutory capital in penny koshtiv, formed by the currency of another state.
Vinikla sum of the additional capital, call directly on the cover of the profits. The minimum and maximum sums of additional capital are not regulated by legislation.
Revaluation of non-current assets and additional capital - the topic of the video below:
Statutory storage
Statutory stockpiled capital is formed by organizations that regulate their activity only by establishing documents. For the form of organization of the Lord, you can buti. The amount of accumulated capital is being formed by frequent businessmen.
Statutory storage capital is called real capital, the necessary functioning of business. The accumulation of capital is a part of the collective lane of business, and it is often disturbed in the light of the actual vartost.
The difference lies in the fact that the statutory warehousing capital is formed only by means of the participants in the enterprise - the object of the joint ventures, and it is not enough to go through the balance sheet of the enterprise, and it appears in the establishing documents. Costs of stockpiled capital, which have a penny equivalent, are not saved for free. The stench is observed and saved at the correspondent's quarters at the same time with other necessities.
- The main one is to ensure the functioning of the business for the protection of the rights of creditors. Storing capital has its own kind of guarantee function. When the founders of the undertaking are guilty, they will help the creditors, and with their own honor, they may have the right to demand a long-term return of creditors.
- And one more function of the stockpiled capital is legal-original. According to the part of the participation, the right to manage the skin yoga of the participant is awarded and after it.
Vіdpovіdno before legislation Russian Federation at the end of another fate and the next financially significant period of debt, give no less than the sum assigned to the statutory capital. Otherwise, the suspіlstvo may be rozpochati.
Warehouse for wealthy capital
Spivvіdnoshennia QC and RK
Traditionally, it is important that the reserve capital is necessary to form enterprises, as they plan to carry out nayrizikovishi vidi activity. For example, tse AT, which especially functions in the ovnіshnekonomichnіchіy sphere of activity. Reimbursement to the reserve fund is paid from the income.
- The minimum amount of reserve capital for TOVs may become 5% of the amount of statutory capital, the repayment may continue until reaching the level of 25% of the amount of statutory capital.
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The normal functioning of the enterprise is impossible without the obviousness of the songs, which are directed to the development of viability, the improvement of that development of the objects of the non-viral sphere, and also to the formation of reserves. These bones are called capital. Capital - the whole sum of material goods (speech) and costs, which are in the forefront. Capital is the price to bring dodatkovu vartist. Only a contribution to the capital of the state's diyalnist, this investment creates a profit.
The capital of the sensi is mine and money, buildings bring income. We primed and hardened "capital - tse vartist that self-growth". These terms explain the functional recognition of the process of national wealth development. From the position of the kerіvnik kapital є sukupnії fixed assets and circulating koshtіv, yakі allow the reach of the lord's activity of enterprise. A second look at this category allows you to look at capital like a mustache, like a master of business, a few pennies and other financial expenses, like grabbing the achievement of the set goals.
The leather from the elements of capital can take on the surplus, and the okrem act as assets for the surplus. The advantages of private enterprises are evident at this stage of the development of the market economy in the fact that it is more important to activate the profit margin and not to invest money in the main fund, not to waste the debtor's debt too much. Savchuk V.P. Financial management of business - M.: BINOM. Laboratory of Knowledge, 2011
Leather okremy capital mending its own life way like a singing bag of pennies, you stand like a penny capital.
The first stage in Russian capital turns into productive capital from the converted penny capital. After whom the process of warfare is initiated, for whom the goods purchased by the capitalist are acquired. This stage in Russian capital is seen in the sphere of manufacturing.
Another stage in Russian capital is turning from productive capital into commodity capital. Ale, on which Rukh capital does not succumb. Warped goods may be sold. For the sale of goods, the capitalist takes a penny sum.
The third stage in Russian capital is changed into pennies in the transformation of commodity capital. Having vouched for the sale of the goods for a penny, the capitalist victorious їх for the purchase of sobіv virobnitsva and labor force, the need for further virobnitstv, and the whole process is renewed anew.
These are the three stages, like capital successively passing through its own Russia. In the skin of these stages, the capital has a higher function. The transformation of penny capital into the elements of productive capital is ensured by the subsistence of the labor force, which belongs to the capitalist, with the labor force of hiring employees; without such a termination, the process of virobnitsia can be carried out. The function of productive capital helps in the creation of employment practices for hiring workers in a commodity mass, a new vartost, and also, an additional vartost. The function of commodity capital helps in the fact that the way the sale of the generated mass of goods, first, is to turn the capital from the penny form of capital, advances to it for production, and, in another way, to realize the production of the penny form of the production process of the additional work of Tyutyukin. . Finance of organizations (enterprises): assistant - M .: Vidavnicho-trading corporation "Dashkov ta Co", 2011.
In the economic literature, it is accepted to distinguish between capital, materialization in wake-up days and spores, verstats, statutes, which function in the process of making a sprat of rocks, serving a sprinkling of sprouting cycles. Vin may name the main capital. The second kind of capital, which includes syrovina, materials, energy resources, is spent for the manufacturing cycle, influencing the vibrated products. Vіn zvetsya circulating capital. Koshti, stained for working capital, are re-turned until they are accepted after the sale of products. Vitrati main capital is impossible to know how to turn so quickly.
The theory of financial structure of capital is included in the stock of fundamental concepts of financial management. It is closely intertwined with theories of market capitalization and market capitalization of the company, and is based on the equivalence of income and positional capital and analysis of different combinations of financing options for the market capitalization of the company. The meanings of the interrelationships zoom in on the development of these theories in a single conceptual complex.
Indicators of the capital cost are an important tool for capturing managerial decisions, directing to increase the rationality of the formation of capital and the effectiveness of the financial and government activities of enterprises. In the process of molding capital, the assessment of yogo vartosity is determined by how many elements of water and positional capital, as well as their marriage. An indicator of the average quality of the capital to integrate into your own information about the warehouse of yoga elements, the quality of the skin element and your contribution to the result.
Rіznі kontseptsії scho stanovlyat teorіyu fіnansovoї structuring kapіtalu, doslіdzhuyut power, chi vpliv spіvvіdnoshennya Vlasna that pozikovogo kapіtalіv on rinkovu otsіnku, yak kombіnatsіya elementіv kapіtalu vіdbivaєtsya on znachennі Yogo serednoї vartostі i yak Mauger proportsіya zabezpechiti maksimіzatsіyu rinkovoї vartostі pіdpriєmstva. In the meantime, all the stinks will be on the promotion of shares, which are emitted, which represent government capital, and bonds, which represent position capital.
Basic Fondi (mains Kapital, and VartiSno Formi - Basic Makes) - TSA Maja Party, Shaho Vicarotovsu ... Jacquesi Dresses, Vikokanni, Nadanіvі Abo, Vicannі Robіt, Navali Sloat Aboy Holy Advanced Comment, Tobo Thermal Korisno Vicaristannya Talivіstya Ponads 12 mіsyatsіv Abo zvchaynogo operational cycle, yakshcho vіn perevishuє 12 months, that zdatna bring the organization of economic benefits (revenue) from the future.
p align="justify"> In this rank, the criterion for the introduction of the lane to the main funds is the term of the first brown wagon.
The main fondies are vicorous in the process of pracci bagatorase. For whom the natural form of zasobіv pratsі trivaliy hour is saved, yakі vartіst partly transferred to the product, creating with participation. In this case, the most important features of the main vineyards are the most important.
The role of the main funds in the practice is determined by the fact that, in their totality, they establish the virobnicho-technical base (in the trade, the material and technical base) and determine the virobnicha the intensity of the organization.
For the appearance, analysis and planning in organizations, a single classification of the main funds is established, which are grouped according to recognition, species, galuze sign, fallow due to participation in the harvesting process and moisture Zhuravlyov P.V. The economics of business and business activities: assistant M.: vidavnitstvo "Ispit", 2008.
According to their recognition, the main funds are subdivided into types, which are designated for selection in the selection process, and non-productive, designated for satisfaction of cultural and other needs of practitioners (the main funds of the housing and communal state, children's gardens, clubs, medical points).
According to the types of main funds, they are classified on land plots and objects of natural origin, budding, spores, transmission outbuildings, machinery and equipment, transport facilities, harvesting and state equipment, working and productive thinness, planting and other main facilities. Vіdpovіdno to tsієї klаsifіkatsії the appearance is being made and there is a sound about their presence and ruh.
With the improvement of the lace signs, the main fondies are grouped behind the laces of the people's state (industry, agricultural state, trade, harvesting etc.).
For equal participation in the process of selection, the main funds are subdivided into active and passive ones. The active part (machinery, possession) impinges directly on the production, quantity and quality of products. Passive elements (budіvlі, sporud) create minds for the production and trade-technological process. In organizations of quicker cooperation, as in other stores of commodity hunting, a passive part of the main benefits is transferred.
Falsely, in the form of real rights to the objects of the main funds, they are subject to the authorities, as well as to the money, rented out to the organization, or whether they are in the organization in the operational management or the state’s government Zhuravlyov P.V. The economics of business and business activities: assistant M.: vidavnitstvo "Ispit", 2008.
At the stage of victory, the main contributions are divided into bones in operation, reserves, stages of production, reconstruction and conservation. Such a podіl allows you to correctly accumulate the amount of depreciation.
The appearance of the main funds is formed in natural and varietal units of the world. With the help of natural displays, it is carried out with different skin groups of the main funds. So, to characterize the budіvel, it is necessary to vouch for their number, that corisna of the area; for machines - the number of units, type, term of service and productivity. In order to improve the characteristics, I will become involved in practical work in the organizations of quick cooperation and carry out certification of the skin object and the working area, which comprehensive assessment yogo compliance with normative support and advanced knowledge behind such direct lines, like scientific and technical rіven, wash the practice and safety technology. Tse allow to determine the speech structure of the main funds, their technical level and balance the machines and possession Litovchenko V.P. Financial analysis - M: ITK Dashkov i Co, 2012.
The working capital is brought to the mobile assets of the enterprise, like pennies or can be sent to them by stretching the cycle. In the process of circulation of resources, like in the process of in-line governmental activity of the sovereign subject, we see two stages: the stage of production and the stage of circulation. Depending on their position, mobile fondies are divided at the stage of production, like werewolves, and at the stage of obigu - like fondi obigu.
Prior to the turnarounds of the manufacturing funds, the objects of practice are brought, as if they are more likely to stretch out one manufacturing cycle and transfer their versatility to the compatibility of the finished product. Tse virobnichі stock at viglyadі sirovini, mainly materіalіv, purchase napіvfabrikatіv that komplektuyuchih virobіv, dopomіzhnih materіalіv, Fuel type, tari, іnstrumentіv that іnshih malotsіnnih that shvidkoznoshuvanih predmetіv t i. E., Incompleteness virobnitstva in viglyadі nezakіnchenoї produktsії that napіvfabrikatіv Vlasna vigotovlennya Tyutyukіna Є.B . Finance of organizations (enterprises): assistant - M .: Vidavnicho-trading corporation "Dashkov ta Co", 2011.
In the fallow role, as a way to play the role of stocks, in the process of production of stench, stench is divided into the following groups: sulfur and basic materials, additional materials, purchases of manufactured goods, inputs (turning), fire, packaging and packaging materials, spare parts, and low-value items.
The syrovina and the main materials are all the items of practice, including the preparation of the product (the stink to become the material basis of the product). When syrovina is called the products of the agricultural state and additional craftsmanship (grain, beans, thin milk), and the materials are the products of the general handicraft (zucor, thin fabrics) Ivasenko O.G. Finance of organizations (enterprises): chief help/ A.G. Ivasenka, Ya.I. Nikonov. - 2nd view., erased. - M: KNORUS, 2010.
Additional materials are called, like vicorist for adding to the syrovina, those materials for giving the product of the most powerful powers, or for keeping an eye on the experts, and facilitating the process of brewing (cibula, pepper and other spices in cowbass brewing, oily materials, etc.).
To the warehouse of the werewolf stocks, include the days of the future periods. To go to work on the development of new technologies, the development of new technologies just fine. bud. The number of vitrati zdіysnyuyutsya at the in-line production cycle, ale pov'yazanі s products, robots and servants, the release of which was transferred to the future period.
Kapital is the maker of cultivation, representations by means of cultivation, creations by human practice and is recognized for cultivating, tobto. for the creation of goods and services.
Capital is classified according to the following main features:
I. Behind the bullet holes:
1. For reliability before acceptance, see:
1.1 Powerful capital characterizes the versatility of capital enterprises, which should lie with you on the rights of power and victory over them for the formation of part of their assets. Tsya part of the assets is the net assets of the enterprise.
Vlasny kapital is the purpose of the whole lane of entrepreneurship after paying all the borgs.
1.2 Position capital characterizes pennies, which are earned on a turnaround and paid basis, or mine values. Usі forms vikoristovuvannogo pіdpriєmstvo pozikovogo kapitalu є yogo fіnansovі zobov'yazannya, scho pіdlyagayut repayment.
2. For groups of dzherel zaluchennya kapitalu on vіdnoshnennia to podpriєmstva, see so yogo see:
2.1 Capital, which is obtained from internal sources, characterizes the power and position of financial resources, which are formed without intermediary on the enterprise for the security of this development. The basis of the government's financial assets, which are formed from internal dzherel, is to become a capitalized part of the net income of the enterprise (“non-distribution income”). The basis of the positional financial costs, which are formed in the middle of the enterprise, is to become a stream of goiter for roses (“internal rahuvans to nurture”).
2.2 Capital, which is radiating from the outer cores, characterizes that part of the business, as it forms between business lines. Vaughn hoards irradiations from the side like a vlasny, and positional capital. Warehouse dzherel ts_єї group shaping capital є dosit numerical.
3. For the national trust of the Vlasniks in capital, which is given to the lord's court, they are distinguished:
3.1 National capital, which is obtained by entrepreneurship, allows the greater world to coordinate its government activity with the economic policy of the state. In addition, this type of capital, as a rule, is more accessible for small and medium businesses. At the same time, at the stage of the economic development of the country, the free national capital was occupied with more land, which does not allow the state to provide the subjects with the necessary pace of economic growth.
3.2 Foreign capital is radiating, ringing, middle and great enterprises, zdiisnyuyut zvnishnoekonomichnu diyalnist. If you want to oblige the proposition of capital on the world market to be significant, wash it with the help of the state-owned subjects of the state, through the high level of economic and political risk for overseas investors.
4. For organizational and legal forms of obtaining capital under the enterprise, one can see:
4.1 Shareholder capital is formed by undertakings, created by apparently joint-stock partnerships (companies) of a closed type. Such corporate undertakings may have wide opportunities for the formation of capital from the old dzherel shlyahom shares. To achieve the high investment privability of such undertakings, their share capital can be formed with the participation of foreign investors.
4.2 Equity capital is formed by partnerships, created in the form of partnerships with a fringed partnership, team partnerships, too. Such enterprises, and obviously the type of share capital, have gained the greatest breadth in today's minds.
4.3 The individual capital characterizes the form of the yogo study and the hour of the creation of individual enterprises - the family ones. In today's minds, individual businesses do not take away a wide development in our country, even as in foreign practice, the largest mass (they make up 70-75% of the total number of all businesses). The creation of new individual businesses is driven by the lack of start-up capital of businesses and the insufficiently high level of competition for the largest segments of the market of goods and services.
This podіl kapitalu vіdpovіdaє zagalnenіy klаsifіkatsії pridpriєmstv fоr organizational-legal forms of activity.
II. For forms of study:
1. Behind the natural-speech forms of investigating capital, the modern economic theory sees the following:
1.1 Capital in the form of a penny is the widest kind of business that can be obtained. The role (function) of yoga is to create the necessary minds in the process of generating material wealth. Spend a penny, buy a purchase on the market for the necessary factors of production: I work hard, make the production of that land plot (possibly, on rent).
The versatility of this type of capital lies in the fact that wines can easily be transformed into a form of capital, which is necessary for the establishment of state activity.
1.2 The capital of the financial form is obtained through the use of different financial instruments, which are contributed up to the first statutory fund. Such financial instruments can be shares, bonds, deposit accounts and certificates of banks and others. In votchiznyanіy gospodarska praktitsі zaluchennya kapital finansovoї formі vykoristovuєєє podpriyamstva real sector ekonomіki very rarely.
1.3 Capital in material form is obtained by the acquisition of various capital goods (machines, installation, construction, accommodation), syrovina, materials, manufactured goods, and in other cases - by looking at other goods (importantly by trade).
1.4 Capital in non-material form is obtained by the acquisition of various intangible assets, yak not to mum speech form, but to take a direct fate from the yogi of the state's activity and molding income. To what kind of capital is the right to capitalize on natural resources, patent rights to the selection of wines, know-how, rights to crafts and models, trademarks, computer programs and other intangible assets.
The investment of the capital of these forms is allowed by the legislation under the hour of the creation of new enterprises, the increase in the obligation of their statutory funds.
2. Over the time period, capital is seen:
2.1 Dovgostrokovy (permanent) capital, which is obtained by undertaking, is formed from public capital, as well as from positional capital, with the term of more than one rock. The succes- sion of the free and the long-term positional capital formed by the enterprise is characterized by the term “permanent capital”.
2.2 Short-term capital is acquired by undertaking up to one year. Vіn is formed to satisfy the needs of the government of the government, connected with the cyclical government activities, the growth of the time of the conjuncture of the market.
III. For the character of vikoristannya:
1. After the stage of education to the economic process, capital is divided into two main types - victory and not victory in the economic process. Such a form of classification of capital signifies the status of victorious yogo obyagu and allows to reveal the potential of additional victoria in a particular period.
1.1 Capital, which is victorious in the economic process, characterizes it as an economical resource, educating to a sustainable production with a method of taking away income.
1.2 Capital, which is not victorious in the economic process (or “dead” capital), is previously accumulated by its part, as for the reasons it has not yet taken victoria in the economic process. Such a capital does not only bring income to the sergeant-major, but it wastes its real ability in the process of saving from the form of “lost opportunity loss”.
2. For the spheres of winning in economic capital, the following are shared by the essential government practice:
2.1 Capital, which wins in the real sector of the economy, characterizes its wealth, profit in the enterprises of this sector - in industry, in transport, in the strong state, in trade. (While a single part of the capital of these businesses can be tied to operations in the financial market).
2.2 Capital, which wins in the financial sector of the economy, characterizes its wealth, credit in various financial institutions (installations) - in commercial banks, investment funds, companies, insurance companies, etc. (If you want a single part of the capital of these financial institutions, you can be without intermediary zadiya in the processes of real investment in the form of a virobnichesky vikoristannya).
Such a podіl kapitalu may be a little smart character, the oskіlki is based on the vіdpovіdnіy klаsifіkatsії pridpriєmstv, not opіkіtії kapital, scho zdіysnyuyutsya in raznyh sectors ekonomіki.
3. Behind directives, victoriousness at the government's activity is seen:
3.1 Capital, victorious as an investment resource, to become the main part of the capital of enterprises, as real, and the financial sector of the economy, behind the back of the investment process. On the undertakings of the first group, part of the capital is won more importantly for real investment (as a rule, in the form of capital contributions), and on the enterprises of the other group - for financial investment (as a rule, in the form of contributions to papers).
3.2 Capital, which wins as a viable resource, becomes the most important part of the capital of enterprises in the real sector of the economy. Tsya part of their capital is given to the uninterrupted production of products (goods, services).
3.3 Capital, which wins as a credit resource, becomes the most important part of the capital of such institutions of the financial sector of the economy, like commercial banks and non-banking credit institutions. Singing peace capital as a credit resource can be won in forms permitted by law and other financial institutions (factoring companies, leasing companies, etc.). Vykoristannya part of the capital of the commodity (commercial) credit under the enterprises of the real sector of the economy does not lie flat (which type of operation is carried out by them with additional capital, which is a vicarious resource).
4. For the peculiarities of winning in the investment process, one can see:
4.1 The amount of capital that is invested characterizes the total amount of formed investment resources directed towards financing a specific investment object (instrument) (or the capital stock - "investment portfolio").
4.2 capital, which is reinvested, characterizes a repeated investment in a specific object or an instrument for investing for a sum of money of a net penny flow (net income, depreciation and amortization).
4.3 The disinvestment of capital characterizes the first part of the study of the investment object or the investment portfolio as a whole (by way of the sale of such assets).
Listed vidi characterize the operation of the victorious capital in relation to a specific object (instrument) of investment.
5. Behind the peculiarities of the selection of the virobnic process, one can see:
5.1 The main capital - tse zabi pratsі, scho to take a part in the process of virobniztva and transfer your vartіst to the product of virobniztva trivaliy hour.
5.2 Working capital - all practical items (sirovina, finished products, electricity) and labor force. The term for working capital is one cycle of production.
6. For the equal zadіyannosti at the virobnic process in the practice of financial management one can see:
6.1 Working capital characterizes that part of the economy, as it takes an uninterrupted share in the formation of income and secure operational activities of the investment activity of the enterprise.
6.2 Non-performing capital (or “dead” capital at the borders of business) characterizes that part, as it is advanced on assets, so it does not take an uninterrupted participation in the various types of operational and investment income of such business. The butt of which kind of capital is the capital of the enterprise, advances in the application of that possession, which do not win; stockpile and materials for production, taken from manufacturing; the products are ready, as soon as the next day, the buyers will drink at the link with the second of her lifeless yakosto.
7. For equal risk of winning, capital is divided:
7.1 Risk-free capital characterizes that part of the business, which is victorious for the construction of risk-free operations related to manufacturing or investment activities.
7.2 Low-risk capital characterizes the low-risk capital in the most common and investment operations, the risk of any lower types of the mid-market.
7.3 Middle-risk capital characterizes that part of the capital, which is typical in operations of a typical investment character, the level of risk of which is approximately similar to the middle-market one.
7.4 High-risk (“venture”, “speculative”) capital characterizes the highest risk in operational activity, which is based on fundamentally new technologies and is connected with the release of fundamentally new products (the so-called “venture capital”), or in investment, activity for financial investments in high-risk (“speculative”) instruments (the so-called “speculative capital”).
8. For compliance with legal norms, vikoristannya see:
8.1 Treasury capital - part of the capital of a firm, company, which does not appear in the official list, but is recognized by the fiscal authorities. Widely victorious at the stage of the economic development of the land of “thinovy” capital by a significant world and a kind of reaction of entrepreneurs to the “rules of the green” of the economy established by the power, on the unfairly high income of the taxpayer. Zrostannya obsyagu vikoristannya "tіnovogo" kapіtalu gospodarsku dіyalnіst of companies provide powers svoєrіdnim іndikatorom nizkoї efektivnostі priynyatih rіshen in sferі podatkovih regulyuvannya vikoristannya yak zhivila in pіdpriєmnitskoї dіyalnostі of pozitsіy dotrimannya parity іnteresіv yak powers, i vlasnikіv kapіtalu.
8.2 Legal capital - part of the capital, which is accumulated in return for repayment in return.
