Analysis of factors influences the financial sustainability of enterprises

Activity of enterprises is a complex of interconnected business processes that depend on a lot of numerical factors. If any factor drops out of consideration of the chain, the assessment of the influence of other factors taken into account, as well as the risk of being wrong conclusions. But not only the conclusions may be wrong, but also in question could be further activities of the organization. In particular, if acquainted with the statistics on the number of bankrupt companies, we can understand how well do their business or another enterprise. It is important to say about the fact that those organizations which calculate almost all of its steps have pretty good results. This fact can be observed in the rate of production growth.

Given that the company is both subject and object relations in a market economy, as well as the fact that it has different possibilities to influence the dynamics of the various factors, the most important is their division into internal and external. The first is directly dependent on the organization of the enterprise; the latter are external to it, their changes with little or no power over the will of the enterprise. This division and should be guided by simulating the production and business activities, and trying to manage financial stability, implementing a comprehensive search for a backup in order to improve production efficiency.

For the stability of the enterprise it is very important not only to the total amount of expenses and the ratio between fixed and variable costs.

For the development of such a system as an environment, you need to become a member, to join the process and its technology to the existence and development, to acquire bonds, to be flexible, modular organization, able to overcome the threats and to share the risks and therefore it is possible to allocate another factor influencing the financial stability - diversification of activities.

It may be noted that diversification is beneficial both small and large enterprises. It allows you to:

• •    increase production, to better meet the demand, make the economy more efficient;

• •    increase productivity of the total labor force;

• •    improve the production use of enterprise resources, increase the concentration of production;

• •    reduce the risks of highly specialized production and investment due to the multiplication of their areas;

• •    improve the financial performance of the work, to prevent bankruptcy, increase the profitability of enterprises.

• •    stabilize the financial position of market participants due to the increase in sales volumes, the introduction of new products.

Another important internal factor is the financial stability of the composition and structure of financial resources, the correct choice of strategy and tactics of management. The more the company's own financial resources, especially income, the easier it can feel. This is important not only to the total mass of profit, but also the structure of its distribution, and especially - that portion, which is directed to the development of the production from this assessment of the distribution policy and the use of the profit comes to the fore in the analysis of financial stability. In particular, it is essential to analyze the use of profits in two ways:

• •    Firstly, to finance current operations - on the formation of working capital, strengthening solvency, increased liquidity, etc.;

• •    Second, to invest in capital and securities.

Great influence on the financial stability of the enterprise funds have further mobilized to loan capital market. The more money the company can attract, the higher its financial capacity; but increases the risk and financial - to be able to pay the company in a timely manner with their creditors? And here a great role to play reserves as a form of financial guarantee solvency of the business entity.

So, in terms of impact on the financial stability of the enterprise is determined by internal factors are:

• •    spectral affiliation of a business entity;

• •    structure of the product, its share in the total effective demand;

• •    the amount of paid-up share capital;

• •    the size and cost structure of their dynamics compared with income;

• •    condition of the property and financial resources, including reserves and resources, their composition and structure.

The extent of their integral impact on the financial stability depends not only on the ratio of the above factors themselves, but also on the stage of the life cycle, which in the analyzed period, the company is located, on the competence and professionalism of its managers. Experience shows that a considerable part of the enterprise failures can be attributed precisely to inexperience or incompetence of managers, with their inability to take into account changes in internal and external environment.

The main factors of the environment can be divided into four groups:

• •    political and legal factors. Various factors legislative and governmental nature may affect the level of the existing opportunities and threats in the organization: antitrust, monetary policy, federal elections, patent law;

• •    Economic factory. The organization's ability to remain profitable direct influence overall health and well-being of the economy, the development stage of the economic cycle. The macroeconomic climate as a whole will determine the level of capacity organizations achieve their economic goals. Poor economic conditions will reduce demand for commodities and more favorable - can provide the conditions for its growth. In the analysis of the external environment for a particular organization is required to evaluate a number of economic indicators, such as interest rate, currency exchange rates, economic growth, inflation, etc.;

• •    social and cultural factors shape the style of our life, work and influence on virtually all organizations. New trends create the type of consumer and the need to produce other goods, defining new strategies of the organization;

• •    technological factors. Revolutionary technological changes and discoveries represent great opportunities and serious threats.

Of particular importance to the financial stability of the enterprise is the level and dynamics of the fluctuations in effective demand for its products (services), for the effective demand determines the stability of the receipt of revenues. In turn, the effective demand depends on the income level of the economy consumers - individuals and legal entities - and the price of the company's products.

Significant effect on the financial stability and the phase of the economic cycle in which the economy of the country. During the crisis, there is lag the pace of sales of products the pace of production. Reduced investment in inventories, which further reduces sales. It reduces the overall income of subjects of economic activity, are reduced relative and even absolute magnitude of profit. All this leads to a reduction of liquidity, their solvency. During the crisis intensifies a series of bankruptcies.

The fall in effective demand is characteristic of the crisis, not only leads to the growth of non-payments, but also to increased competition. The severity of competition also represents an important external factor of financial stability.

Serious macroeconomic factors of financial stability are, in addition, the tax and credit policies, the degree of development of the financial market, insurance business and foreign economic relations; a significant impact on its currency, the position and strength of trade unions.

Economic and financial stability of any enterprise depends on the overall political stability. The values of this factor is especially great for business in Russia. State Drinking entrepreneurial activity, principles of state regulation of the economy (it prohibitive or stimulatory), property relations, the principles of land reform, measures to protect consumers and businesses cannot be taken into account when considering the company's financial stability.

Based on the foregoing, it can be noted that an important condition for the existence of the organization is not only the analysis of financial stability, but also the ability to analyze the factors that affect the financial stability of the enterprise itself.