Calculate the economic effect resulting from the turnover. The economic effect as a result of accelerating the turnover of assets is expressed in the relative release of funds from circulation, as well as in an increase in the amount of revenue and the amount of profit

Economic effect of accelerated turnover inventory expressed in the release working capital, reducing the company's need for them in connection with the improvement of their use. There are absolute and relative release of working capital.

The absolute release reflects a direct reduction in the need for working capital. The value of the absolute release is determined as the difference in the values of working capital invested in inventory in the analyzed periods.

Let's look at an example. In 2016, the turnover amounted to 2,500,000 rubles, while the average annual value of inventory was 500,000 rubles. The turnover was 5 turns. In 2017, there was an acceleration in turnover, the turnover was also 2,500,000 rubles, but the average annual value of inventory was 300,000 rubles. The turnover was equal to 8.33 turnover, and the absolute release of working capital is defined as 500,000 rubles - 300,000 rubles = 200,000 rubles.

Relative release reflects the difference in working capital that would be needed in the current period with the turnover of the previous period. When do we need to define relative release? In the previous example, the turnover has not changed over the year, but you can often observe a situation where, with the acceleration of turnover, the value of inventory remains the same, and turnover increases. That is, to increase sales, the company did not need additional attraction of working capital.

Let's look at an example. In 2016, the turnover amounted to 2,500,000 rubles, while the average annual value of inventory was 500,000 rubles. The turnover was 5 turns. In 2017, there was an acceleration in turnover, the average annual value of inventory was 500,000 rubles, and the turnover was 4,000,000 rubles. There was no absolute release of working capital: it was all invested in inventory, but the company benefited in that it did not need to raise additional cash to increase sales. Let's define this benefit. The logic is the following.

We need to determine the value of the average annual cost of inventory, which would be if the turnover remained the same as in 2016. The difference between this value and the actual one in 2017 will be the economic benefit from the acceleration of turnover in this case.

The turnover in 2016 was 5 turnovers. Let me remind you that turnover in turnover is defined as the ratio of turnover to the average annual cost of inventory. In our case, this is 2,500,000 rubles / 500,000 rubles - 5 turns. If turnover had not changed in 2017, then the average annual cost of inventory would have been 4,000,000 rubles / 5 turnovers = 800,000 rubles. That is, we would need to attract an additional 300,000 rubles: 800,000 rubles - 500,000 rubles. The company did not need to raise these funds due to the fact that it carried out measures to accelerate turnover.

If you calculate the turnover in days, then the effect of its acceleration is determined by the formula:

Economic effect = (turnover in the previous period - turnover in the current period) * turnover for the year / 365 days

In the period under review, the economic effect is equal to:

Turnover in 2016 = 500,000 rubles * 365 days / 2,500,000 rubles = 73 days

Turnover in 2017 = 500,000 rubles * 365 days / 4,000,000 rubles = 45.625 days

Economic effect = (73 days - 45.625 days) * 4,000,000 rubles / 365 days = 300,000 rubles.

According to my observations, in almost every company there are large reserves for accelerating turnover. Increasingly, I am approached with the question of how to achieve the turnover that the head / owner of the company sets as a target. The site has several articles on the subject. For example,

If you want to quickly find a solution, understand what steps need to be taken in your company, and get a clear and precise plan for accelerating turnover, I suggest getting my advice.

The consultation will include:

Calculation of the standard turnover for suppliers and for the company;

Calculation of the actual turnover for suppliers and for the company;

Identification of positions with large surpluses;

Discussion of an action plan to get rid of these surpluses;

Identification of reserves for increasing turnover (frequency of order placement, work with suppliers).

The duration of the consultation is 1.5 hours.

Before the consultation, you need to send all the data that will be required for the calculations. I make the calculations, and then we jointly analyze your indicators during a consultation on Skype.

The cost is 6,000 rubles.

The economic effect of accelerating inventory turnover is expressed in the release of working capital, reducing the company's need for them in connection with the improvement of their use. There are absolute and relative release of working capital.

Let's look at an example. In 2016, the turnover amounted to 2,500,000 rubles, while the average annual value of inventory was 500,000 rubles. The turnover was 5 turns. In 2017, there was an acceleration in turnover, the average annual value of inventory was 500,000 rubles, and the turnover was 4,000,000 rubles. There was no absolute release of working capital: it was all invested in inventory, but the company benefited in that it did not need to raise additional cash to increase sales. Let's define this benefit. The logic is the following.

If you calculate the turnover in days, then the effect of its acceleration is determined by the formula:

Economic effect = (turnover in the previous period - turnover in the current period) * turnover for the year / 365 days

In the period under review, the economic effect is equal to:

Turnover in 2016 = 500,000 rubles * 365 days / 2,500,000 rubles = 73 days

Turnover in 2017 = 500,000 rubles * 365 days / 4,000,000 rubles = 45.625 days

Economic effect = (73 days - 45.625 days) * 4,000,000 rubles / 365 days = 300,000 rubles.

Determination of effectiveness begins with the establishment of criteria, i.e. the main feature of performance evaluation, revealing its essence. The meaning of the criterion of production efficiency follows from the need to maximize the results obtained or minimize the costs incurred based on the goals of the enterprise development.

Financial position enterprises is directly dependent on how quickly the funds invested in assets are converted into real money.

The duration of the funds in circulation is determined by the combined influence of a number of multidirectional factors of an external and internal nature. Among the first should include the scope of the enterprise (production, supply and marketing, intermediary, etc.), industry affiliation, size of the enterprise. The decisive influence on the turnover of the assets of the enterprise has economic situation in the country. The rupture of economic ties, inflationary processes lead to the accumulation of stocks, which significantly slows down the process of turnover of funds. Internal factors include price policy enterprises, the formation of the structure of assets, the choice of methods for assessing inventories.

Current assets represent part of the advanced capital. Their cost includes inventories, work in progress, finished goods, receivables and cash. Here, first of all, everything that is connected with labor is reflected - objects, means, payment. It is in the interests of the enterprise to organize work with working capital in the most rational way, since it directly depends on it. financial condition. The system of indicators of turnover of working capital is based on two interrelated financial ratios: the coefficient of duration of one turnover and the turnover ratio, characterizing the efficiency of the use of working capital. The latter has an impact on business activity, capital productivity and also the profitability of assets or activities of the enterprise.

Asset turnover reflects how many times during the period the capital invested in the assets of the enterprise is turned over, i.e., it evaluates the intensity of the use of all assets, regardless of the sources of their formation. On the other hand, it shows what part of the revenue the company has from the funds invested in assets

A high turnover rate usually indicates efficient use capital and a favorable environment within the company: low inventory levels reduce the risk of being left with unsold products in stock. However, if the value of the coefficient is much higher than the industry average, then there is a shortage of purchased goods and materials and, as a result, the risk of dissatisfaction with customers.

As general indicators of the turnover of current assets of an enterprise, the following are distinguished:

1. Turnover ratio of current assets(turnover of current assets in times), which characterizes the rate of turnover of current assets and shows the number of turnovers made by current assets for the period, and is calculated by the formula:

Kob \u003d VRn / OBsr,

where Kob - turnover ratio of current assets; ВРн - proceeds (net) from sales; OBav - average balances of current assets for the period.

2. Average duration of one turnover of current assets(turnover of current assets in days), characterizing the duration of the turnover of current assets, showing the average residence time of current assets in the process of circulation in days and determined by the formula:

Toba \u003d (OBav x D) / VRn \u003d OBav / VRD,

where Toba - the average duration of one turnover of current assets (in days); ВРн - proceeds (net) from sales; OBav - average balances of current assets for the period; D is the number of days in the period; WRD - average daily revenue (net) from sales.

As can be seen from the above formulas, the turnover ratio and the average duration of one turnover of current assets are inversely proportional, i.e. the higher the turnover rate of current assets, the shorter its duration. In other words, the intensification of the use of current assets involves an increase in the first indicator and, accordingly, a decrease in the second.

3. The economic effect of changing the turnover of current assets, which characterizes their release from circulation as a result of an increase in its speed or their additional attraction into circulation as a result of a slowdown in its speed and is calculated by the formula:

(+/-)E \u003d (Toba1 - Toba0) x VRd1,

where (+/-)E - the value of the economic effect from changes in the turnover of current assets; Toba1 and Toba0 - the average duration of one turnover of current assets (in days) in the reporting and previous periods, respectively; ВРд1 - average daily proceeds (net) from sales in the reporting period.

In this case, the following three situations may occur, related to the value of the economic effect from changes in the turnover of current assets:

Toba1< Тоба0 >E< 0, т.е. произошло высвобождение оборотных активов из оборота в результате повышения интенсивности их использования;
Toba1 > Toba0 > E > 0, i.e. there was an additional attraction of current assets into circulation as a result of a decrease in the intensity of their use;
Toba1 = Toba0 > E = 0, i.e. there was no release or additional attraction of current assets into circulation, since the intensity of their use remained at the same level.

The release of current assets from circulation should be considered as a positive development, since a smaller amount of them began to be required to ensure this level of current activity. commercial organization, additional attraction of current assets into circulation - as a negative phenomenon, since a large amount of them began to be required to ensure this level of current activity of a commercial organization.

3.1 Consequences of acceleration (deceleration) of working capital turnover

As part of the study, in accordance with the studied methodology for the analysis of current assets, it is necessary to graphically present their structure (Fig. 3.1.), To determine their most significant components. In paragraph 2.1. current assets were studied in fragments, indicators of structure and dynamics for the analyzed period were calculated.

Rice. 3.1. Structure of current assets of Yuzhnaya Zvezda LLC

The graphical representation of the structure determines that the essential components of current assets are: short-term financial investments - 51%; goods for resale - 34%; accounts receivable - 11%. From the point of view of the type of activity of the object of study, we more interested in receivables and goods for resale. Short-term financial investments, taking into account the data of financial statements, are loans provided to other organizations.

In 2007, the share of short-term financial investments decreased to 17%; total amount current assets belong to goods for resale - 11%; also increased the share accounts receivable in working capital - up to 49%, which is already a negative point: in 2007, half of all working capital of the organization is used not for the purposes of economic turnover, it is excluded from it, which naturally reduces efficiency economic activity organizations.

AT modern conditions many enterprises experience a shortage of working capital, that is, a situation where the standard exceeds the amount of working capital. The reason for its occurrence may be the non-fulfillment of the plan for profit, the use of profit for purposes not provided for by the plan, untimely financing of the standard of working capital, diversion of working capital, i.e. immobilization.

The immobilization of working capital is their withdrawal from the continuous planned circulation. Any immobilization of working capital testifies to their inefficient use, leads to a slowdown in turnover and a deterioration in the solvency of the enterprise. It is necessary to distinguish between immobilization that has arisen as a result of the use of working capital for other purposes, that is, for purposes not at all connected with the circulation of funds, and immobilization that has arisen as a result of a slowdown in the circulation of funds at its individual stages.

The following main ways to accelerate the turnover of working capital can be distinguished:

At the stage of preparation for production - calculation of scientifically based norms and norms of working capital;

At the production stage - reducing the duration of the production cycle through automation, complex mechanization, the use of the latest scientific discoveries and technical inventions, replacing expensive materials with cheaper ones, reuse containers, tools, rhythm of production, etc.;

At the stage of circulation - increasing the volume and ensuring the rhythm of the sale of products, which contributes to the uninterrupted shipment to customers and the timely receipt of funds for it to the current account; development of the settlement system in the national economy, timely execution of documents and strict observance of payment discipline.

Turnover ratios help to determine how efficiently the company uses its assets and sources of their financing.

Turnover characterizes the amount of funds that the company must invest in the business for its normal functioning.

Turnover ratios help evaluate the effectiveness of not only enterprise management as a whole, but also individual services. Turnover analysis allows you to identify hidden capital reserves in the enterprise and thus sometimes refuse to use borrowed “paid” financing.

The financial position of an enterprise is largely determined by how quickly the funds invested in assets turn into real money. Accelerating the turnover of working capital allows either, with the same volume of sales, to release part of the working capital from circulation, or, with the same amount of working capital, to increase the volume of sales. In this regard, turnover rates are also called indicators of business activity. To assess the effectiveness of the use of assets, indicators of asset turnover in general, current assets, as well as inventories and receivables are used.

The turnover ratio of current assets reflects the number of turnovers committed by the property for the analyzed period. It is a stimulant indicator and therefore should tend to increase. It characterizes the efficiency of the enterprise's use of all available resources, regardless of the sources of their attraction. This coefficient shows how many times a year a full cycle of production and circulation is completed, bringing the corresponding effect in the form of profit.

The turnover for the analyzed periods from 2005 to 2006 increased from 2.58 to 3.41, and from 2006 to 2007 it sharply decreased from 3.41 to 1.96, which is a negative trend and indicates a fall the pace of turnover, sales, lowering the efficiency of resource use, the overall profitability of production, as well as increasing the instability of the financial condition of the enterprise. Moreover, the turnover decreased both due to the growth of current assets, and because of the decrease in revenue.

The duration of the turnover is a decoding of the turnover indicator and shows how many days current assets go through a full cycle. As a result of the acceleration of the turnover of working capital, there is a conditional release of working capital, that is, their savings. It is expressed in days and is calculated as follows:

Boa \u003d T / K vol.oa \u003d T x OA cf. / Revenues from sales; (2)

If in 2005 the period of one turnover was 141 days, then in 2006 it was 107 days, and in 2007 it was 186 days.

With a slowdown in turnover, there is an additional attraction of working capital to service production, that is, an overrun.

Additional attraction of working capital due to a slowdown in turnover is calculated as follows:

rOact \u003d (Boa 1 - Boa 0) x Comp.r 1 / T 1;

In 2005, the overspending of working capital amounted to 87552.5 thousand rubles, that is, these funds did not participate in the turnover, because of this, the efficiency of working capital use and the overall profitability of the enterprise decreased. In 2006, the overspending decreased by 280 times to 312.3 thousand rubles, but remained positive, which coincides with a slowdown in the rate of decline in the turnover of current assets and indicates a reduced, but ongoing decline in the efficiency of working capital use. In 2007, the additional attraction of current assets increased to 52608.9 thousand rubles, which indicates a deterioration in the rationality of the enterprise's economic activity and an even greater decrease in the profitability of production.

The rate of turnover of inventory is one of the most important factors affecting the overall turnover of working capital. The inventory turnover period is the average period of time required for the transformation of raw materials into finished products and subsequent sale.

With an increase in inventory turnover, the period of one turnover decreases accordingly. Which is a positive change and indicates that the company uses resources rationally. Current assets are concentrated in liquid form and this leads to an increase in their turnover and an increase in profits.

In relation to the stocks of the organization: the speed of their turnover increases, which is a positive trend, the movement and change in the form of stocks occurs faster, which reduces the risk of deadening of funds in stocks; in 2005, stocks managed to complete one turnover in 61 days, in 2006 - in 42 days, in 2007 - in 30 days. The lower this indicator, the more efficient the work. trade organization.

Since a significant proportion of Yuzhnaya Zvezda's inventory belongs to goods for resale, management should monitor the immobilization of working capital by groups marketable products. To do this, it is necessary to study the structure of goods for resale, monitor its changes on a quarterly basis. Due to insufficient data, we analyzed the structure of goods for resale only for 2007, the following results were obtained (Fig. 3.3).

Rice. 3.3. Inventory structure for resale by Yuzhnaya Zvezda LLC in 2007

As you can see, the largest share in the total value of inventory is occupied by flower crops - 45%; accessories for plants and planting material have approximately the same shares - 20% and 14%, respectively.

As a result of the analysis, we received the amount of additionally attracted working capital as a result of a slowdown in the turnover of current assets.

Table 3.1

Overspending of working capital as a result of a slowdown in the turnover of current assets (thousand rubles)

The system of generalizing and particular indicators of the turnover of working capital is based on two interrelated financial ratios: the turnover ratio and the duration of one turnover, characterizing the efficiency of the use of working capital, and in particular the turnover turnover of inventories, turnover and maturity of receivables, etc.

In terms of their content, turnover indicators are direct indicators of the efficiency of the resource type, i.e. characterizing the ratio of effect to costs. The original is applied as an effect. financial indicator- sales revenue. Quantitatively, the costs are expressed through indicators of advanced resources, which gives reason to attribute the turnover indicators to the resource type. In other words, turnover is characterized by a comparison of indicators of production volume and the value of advanced working capital.

The duration of the funds in circulation is influenced by external and internal factors.

To external factors include: the scope of the organization; industry affiliation; the scale of the organization; the economic situation in the country and related business conditions.

Internal factors - the pricing policy of the organization, the structure of assets, the methodology for estimating reserves.

Reserves and ways to accelerate the turnover of working capital in a generalized form depend on two factors: production volumes, sales and the size of working capital. To speed up turnover, you need to:

To improve production and marketing, to normalize the allocation of working capital;

Fully and rhythmically fulfill business plans;

Improve the organization of production and marketing, introduce progressive forms and methods;

Improve settlements with suppliers and buyers;

Improve claim work;

Accelerate the turnover of funds by improving the collection of proceeds, strict limitation of cash balances at the cash desks of the enterprise, on the way, on the bank account;

Minimize stocks of household materials, low-value and wearing items, inventory, workwear in the warehouse, reduce accountable amounts, Future expenses;

Do not allow the growth of receivables.

The efficiency of the use of working capital of enterprises, therefore, depends primarily on their ability to improve the organization of production and marketing, to increase the level of commercial and financial work.

Particular attention is paid to the study of the causes identified for certain types of current assets and the development of measures to optimize them. An increase in inventories may be the result of deficiencies in the organization of trade, advertising, studying customer demand, etc. marketing activities, the presence of unclaimed and slow-moving production.

Large balances of cash on hand and on the way arise due to the irregular development of sales, untimely delivery of proceeds to the bank, unused funds and other violations cash discipline. Excess balances of other goods material assets are the result of the presence or acquisition of surplus and unnecessary materials, raw materials, fuel, low-value and wearing items, and other material assets. It is possible to reduce the stocks of goods, materials, raw materials, fuel to the optimal size by wholesale or barter transactions, uniform and frequent delivery. The rhythmic development of trade turnover contributes to the normalization of the balances of goods and cash at the checkout on the way.

An important indicator of the intensity of the use of working capital is the speed of their turnover. The turnover of working capital is the duration of one complete circulation of funds, starting with the first and ending with the third phase. The faster the working capital passes through these phases, the more products the company can produce with the same amount of working capital.

In different economic entities, the turnover of working capital is different, as it depends on the specifics of production, the conditions for marketing products, the solvency of the enterprise, on the peculiarities in the structure of working capital and other factors.

The turnover rate of working capital is calculated using three interrelated indicators: the duration of one turnover in days, the number of turnovers per year (half year, quarter), and the amount of working capital per unit of products sold. The calculation of the turnover of working capital can be carried out both according to the plan and actually.

Planned turnover can be calculated only for normalized working capital, actual - for all working capital, including non-standardized ones. Comparison of planned and actual turnover reflects the acceleration or deceleration of the turnover of normalized working capital.

With the acceleration of turnover, working capital is released from circulation, with a slowdown, there is a need for additional involvement of funds in circulation. The duration of one revolution in days is determined on the basis of formula 1.

O = Co: (T: D), (1)

or formula 2.

O \u003d (Co × D) : T (2)

where O is the duration of one revolution, days;

Сo - average annual balances of working capital, rub.;

T - the volume of marketable products (at cost), rub.;

D - the number of days in the reporting period

The turnover ratio shows the number of turnovers made by working capital per year (half year, quarter), and is determined by formula 3.

Ko = T: Co, (3)

where Ko is the turnover ratio, i.e. number of turns.

Working capital utilization ratio is an indicator that is inverse to the turnover ratio. It characterizes the amount of working capital per unit (1 ruble, 1 thousand rubles, 1 million rubles) of products sold, is calculated according to formula 4.

Kz \u003d Co: T, (4)

where Kz is the working capital utilization factor.

This indicator may indicate a rational, efficient or, conversely, inefficient use of working capital only in comparison over a number of years and based on the dynamics of the coefficient. Turnover can be general or private. General turnover characterizes the intensity of the use of working capital in general for all phases of the circulation, without reflecting the features of the circulation of individual elements or groups of working capital. In the indicator of total turnover, the process of improving or slowing down the turnover of funds in individual phases is leveled, as it were. Accelerating the turnover of funds at one stage can be minimized by slowing down the turnover at another stage and vice versa.

The second indicator of turnover - the number of turnovers made by working capital for the reporting period (turnover ratio) can be obtained in two ways:

1) sales of products net of value added tax and excises to the average balance of working capital, i.e. formula 5.

CHO = P/CO, (5)

where CHO is the number of revolutions

P - sales of products

SO - average balance of working capital

2) the number of days in the reporting period to the average duration of one turnover in days, i.е. formula 6.

CHO = V / P (6)

B - the number of days in the reporting period,

P is the average duration of one revolution in days.

The third indicator of turnover (the amount of employed working capital per 1 ruble of sold products is the coefficient of working capital utilization) is defined in one way as the ratio of the average balance of working capital to the turnover for the sale of products for a given period, i.e. formula 7.

This indicator is expressed in kopecks. It gives an idea of how many kopecks of working capital are spent to receive each ruble of proceeds from the sale of products.

The most common first indicator of turnover, i.e. average duration of one turn in days.

The most commonly calculated turnover per year.

With a slowdown in the turnover of working capital, there is an additional involvement in turnover, with acceleration, there is a release of working capital from circulation. The amount of working capital released due to the acceleration of turnover or additionally attracted as a result of a slowdown is determined as the product of the number of days by which the turnover accelerated or slowed down by the actual one-day sales turnover.

The economic effect of accelerated turnover is that the organization can, with the same amount of working capital, produce more products, or produce the same volume of products with a smaller amount of working capital.

Accelerating the turnover of working capital is achieved by introducing into production new technology, progressive technological processes, mechanization and automation of production. Such activities help to reduce the duration of the production cycle, as well as increase the volume of production and sales of products.

To accelerate turnover, the following is important: rational organization of logistics, sales finished products, compliance with the regime of savings in production costs for the sale of products, the use of forms of non-cash payments for products that contribute to the acceleration of payments, etc.

To study the reasons for changes in the rate of turnover of funds, consider the indicators of general turnover and indicators of private turnover. They refer to certain types of current assets and give an idea of the time spent by working capital at various stages of their circulation. These indicators are calculated in the same way as stocks in days, however, instead of the balance (stock) on a certain date, the average balance of this type of current assets is taken.

Private turnover shows how many days on average there are working capital in a given stage of the cycle. For example, if the private turnover for raw materials, basic materials is 10 days, then this means that from the moment the materials arrive at the organization's warehouse to the moment they are used in production, an average of 10 days pass.

As a result of summing up the indicators of private turnover, we will not get an indicator of the total turnover, since different denominators (turnovers) are taken to determine the indicators of private turnover. These indicators allow you to establish what effect turnover has certain types working capital on the indicator of total turnover.

In analytical practice, the indicator of inventory turnover is used. The number of turnovers made by stocks for a given period is calculated by following formula:

Divide the proceeds from the sale of products, works and services (net of value added tax and excises) by the average value for the item "Inventories" of the 2nd section of the balance sheet asset.

Acceleration of inventory turnover indicates an increase in the efficiency of inventory management, and a slowdown in inventory turnover indicates their accumulation in excessive amounts and inefficient inventory management. Indicators reflecting the turnover of capital, that is, the sources of formation of the organization's property, are also determined. For example: turnover equity, is calculated by the following formula:

The sales turnover for the year (net of value added tax and excises) is divided by the average annual cost of equity.

This formula expresses the effectiveness of the use of own capital (additional, authorized, reserve capital, etc.). It gives an idea of the number of revolutions made own sources activities of the organization for the year.

This indicator characterizes the effectiveness of the use of funds invested in the development of the JSC "Technopark" enterprise. It reflects the number of turnovers made by all long-term sources during the year.

When analyzing the financial condition and the use of working capital, it is necessary to find out from what sources the financial difficulties of the enterprise are compensated. If the assets are covered by sustainable sources of funds, then the financial condition of the organization will be stable not only at this reporting date, but also in the near future. Sustainable sources should be considered own working capital in sufficient amounts, the balances of carry-over debt to suppliers on accepted settlement documents, the payment terms of which have not come, permanently carry-over debt on payments to the budget, part of other accounts payable, unused balances of special-purpose funds (accumulation and consumption funds, as well as social sphere), unused balances of earmarked funds, etc.

If the financial breakthroughs of the JSC "Technopark" enterprise are covered by unstable sources of funds, it is solvent at the reporting date and may even have free cash in bank accounts, but financial difficulties are expected in the short term. Unsustainable sources of working capital that are available on the 1st day of the period on the date of the balance sheet, but absent on dates within this period, include: non-overdue wage arrears, deductions to off-budget funds (in excess of certain stable values); unsecured debt to banks on loans against inventory items; debts to suppliers on accepted settlement documents, the payment terms of which have not come; in excess of the amounts attributed to sustainable sources; debt to suppliers for delivery; arrears in payments to the budget in excess of the amounts attributed to sustainable sources of funds.

It is necessary to draw up a final calculation of financial breakthroughs i.e. unjustified spending of funds and sources to cover these breakthroughs.

Based on the above, we can conclude that an important indicator of working capital is the speed of their turnover. When comparing the planned and actual turnover, you can see the acceleration or deceleration of the turnover of normalized working capital.

With a slowdown in the turnover of working capital, there is an additional involvement of them in the turnover.

With the acceleration of turnover, working capital is released from circulation, i.e. an organization can produce more products with the same amount of working capital or the same volume of products with a smaller amount of working capital.