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EKOHOMI4HI ПPOБЛEMИ POЗBИTKУ ГАЛУЗЕЙ ТА ВИД!В EKOHOMI4HOÏ ДIЯЛЬHOCTI
- використання метод1в стратепчного планування та роз-роблення щор1чних програм, плаыв, прогноз1в со^ально-економ1чного розвитку з урахуванням вимог еколопчно! безпеки.
- реформування законодавчо-правово'1' бази, яка стане основою для соц1ально-економ1чних перетворень, обгрун-тованого виршення багатьох проблем стьського господар-ства i збереження навколишнього середовища.
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O.P. KOLUMBET,
associate professor, Ph.D. in economics, professor of the Accountingand General Economic Sciences Department of the Open
International University of Human Development«Ukraine»
Analysis of circulating tangible assets in the baking industry:
scientific research trends
The article reveals the current state of the market of bread and bakery products in Ukraine. Based on the performed research the main problems of the Ukrainian bakery production companies are identified. Theoretical provisions and guidelines on administrative analysis of circulating tangible assets of baking enterprises for information support of management decision making are substantiated.
Keywords: bakery production companies, assortment, bakery industry, market of bread and bakery products, inventories, analysis of current tangible assets, administrative analysis.
О.П. КОЛУМБЕТ,
к.е.н. доцент, професор кафедри облку та загальноеконом1чних дисципл1н, В1дкритий м1жнародний унверситет розвитку людини «Украна»
Анал1з оборотних матер1альних актив1в у хл1бопекарнш галузк
напрями дослщження науковщв
У статт досл!джено сучасний стан ринку хл1ба i хл1бобулочних вироб1в в УкраЫ. На основ! проведеного досл1дження видлен основнi проблеми в дяльностi хл!бопекарських п!дприемств Украни. Обгрунтовано теоретичнi положення та ме-тодичнi рекомендацИ' з управлнського анал!зу оборотних матер!альних актив!в хл!бопекарських п!дприемств для нфор-мацйного забезпечення прийняття управлнських ршень.
Ключов! слова: хл'бопекарськ п'1дприемства, асортимент, хлбопекарська галузь, ринок хлба iхлбобулочних вироб'в, виробнич запаси, анапз оборотних матеральних активiв, управлнський аналiз.
А.П. КОЛУМБЕТ,
к.з.н. доцент, профессор кафедры учета и общеэкономических дисциплин, Открытый международноый университет развития человека «Украина»
Анализ оборотных материальных активов в хлебопекарной отрасли: направления исследований ученых
В статье исследовано современное состояние рынка хлеба и хлебобулочных изделий в Украине. На основе проведенного исследования выявлены основные проблемы в деятельности хлебопекарных предприятий Украины. Обоснованы
© O.P. KOLUMBET, 2015
Формування ринкових вщносин в ÓKparni № 5 (168)/2015 183
ЕК0Н0М1ЧН1 ПРОБЛЕМИ РОЗВИТКУ ГАЛУЗЕЙ ТА ВИД1В EKOHOMI4HOI Д1ЯЛЬНОСТ1
теоретические положения и методические рекомендации из управленческого анализа оборотных материальных активов хлебопекарных предприятий для информационного обеспечения принятия управленческих решений.
Ключевые слова: хлебопекарные предприятия, ассортимент, хлебопекарная отрасль, рынок хлеба и хлебобулочных изделий, производственные запасы, анализ оборотных материальных активов, управленческий анализ.
Problem statement. Baking industry is an important sector of the Ukrainian economy. Its development influences provision of population by vitally necessary products, thus the issues of finding ways to overcome the problems of the industry are of particular importance.
Bakery refers to material intensive industries, so an important place in the management of business activities of companies in this industry is the inventory management. The source of information for decision making is an accounting system, scientifically proven and tested in practice.
Analyzing the current state of baking industry enterprises, a production recession tendency can be traced, inefficient use of production lines, untimely supply of raw materials, which, in turn,sometimes do not meet quality specifications. That is the very thing that pushes baking enterprises to constantly seek for the ways of the most efficient operation on condition of the least expenditure of involved and available resources.
It often happens with the enterprises that the share of circulating assets in the property of companies is the highest. The composition, location, efficiency and structure of sources of current assets financing is directly dependent on the financial condition of enterprises. Therefore the issue of circulating assets analysis is extremely important.
Analysis of recent research and publications. Research issues of accounting and analysis of assets was paid attention to in the works of the following domestic economists as: M.T. Bilukha, F.F. Butynets, A.M. Herasymovych, S.F. Holov, H.M. Davydov, N.I. Dorosh, I.K. Drozd, M.V. Kuzhelnyi, Yu.A. Kuzminskyi, H.I. Kupalova, N.M. Maliuha, Ye.V. Mnykh, L.V. Napadovska, M.S. Pushkar, V.V. Sopko, N.M. Tkachenko, B.F. Usach, M.H. Chumachenko, V.H. Shvets, V.O. Shevchuk. Great contribution to the solution of these problems was made by foreign scientists: R.N. Anthoni, V.F. Palij, J. Robertson, Ja.V. Sokolov, M. Porter, J. Richard, R. Frank and others.
However, modern scientific literature lacks investigations relating to the analysis of circulating assets. In Ukraine the following authors devoted their works to the problems of formation and use of inventories: M. Korobov, A. Kuzminskyi, H. Melnychuk, Ye. Mnykh, T. Fedchenko and others. Among foreign scholars M. Porter, J. Richard, R. Frank and others were engaged in these issues. The results of their research allow
assessing the current state and level of development of baking industry enterprises and highlighting the challenges they face.
The current state of the baking industry in Ukraine is characterized by instability, the same as the rest ofindustries. This is primarily due to the difficult economic situation in the country over the past eighteen months. Therefore the industry requires constant analysis including the needs for inventories to resolve the arising problems and make rational decisions for the solution of these problems.
Problem statement. Research of the current state and prospects of development of management analysis of circulating tangible assets (CTA) within bakery enterprises.
Disclosure of research. Traditionally, baking industry is given less attention, but any changes occurring in the market of bread and bakery products instantly affect the economic, social and political life of the country.
Even the biggest bakeries usually occupy no more than 3% of the market due to the short sale terms, resulting in geographic limitations for the producers to sell bakery - expansion of the market areaincreases transport costs and hence the cost of production and also reduces the product quality, making it less competitive compared to the local one. There can be distinguished suchmajorbakeries as «Kyivkhlib»(baking complexes no. 10,11 -Kyiv), «Odeskyi Korovai» (Odessa region), «Vinnytsyakhlib» JSC Concern»Khlibprom»(Vinnytsia region), «Cherkasykhlib»(Cherkasy region), «Khlib» (Dnipropetrovsk region), «Saltivsky» bakery (Kharkiv region), «Berezhansky» bakery (Ternopil region) and others. Small bakeriesoccupy about 80% of the market.
However, in recent years the state of baking industry is characterized by decline in production of bread and bakery products.
Compared to 1990 bread production fell three times and continues to decline. During the period of 2003-2013 bakery production decreased by 33% or by 775 thousand tons - to the level of 1560 thousand tons(Figure 1).
Besides the overall reduction of bread production there should also be noted the decrease in production of bread and bakery products per person.
Besides, the major problems affecting the businesses,include: low solvency of population, delayed payments of customers for the delivered products, fuel price advance, high production costs, technically obsolete equipment. Tax burden also
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Figure 1. Dynamics of production of bread and bakery products during 2003-2013 in kind*
* Reference: State Statistics Committee of Ukraine [1].
184 Формування ринкових вщносин в УкраУнл № 5 (168)/2015
EKOHOMIHHI nPOEËEM/ PO3B/ITK0 TAËy3EÉ TA BI/IfllB EKOHOMIHHOÏ fllßflbHOCTI
significantly affects activities of the companies, as well as frequent changes in tax legislation. Significant problems affecting the activities of the companies are of financial and economic origin. Among them: state pricing policy (retention of free prices for end products and price advance for energy, raw materials) and very high taxes. Social problems: low solvency of consumers, depending directly on state economic standard (low and undue payment of wages, pensions, scholarships, etc.). Also for the present there aresuch significant problems as: rise of the flour market price due to the increased cost of grain, constant tariffs spiralling for natural gas and its transportation, electricity, water, diesel fuel, gasoline.
Poor planning or imperfect organization, as well as poor control adversely affect the overall performance of enterprises.
Linking the definition of material resources and management analysis, we can formulate the definition of administrative analysis of material resourcesas a targeted impact of an entity of management analysis on raw materials, basic and auxiliary materials, components and other tangible assets intended for production, works, services, production servicingand administrative needs for the achievementof the goal.
In turn, the meaning of management analysis for bakery enterprises is a deep and comprehensive study of information on supply and procurement, manufacturing, commercial, marketing, organizational and administrative activity [2, 3]. Each of these activities is characterized by its performance costs. This analysis should be based, firstly, on a full understanding of the methodology and techniques of accounting, their essence and meaning, importance and limitedness of financial information contained in financial statements, and, secondly, on special techniques
or methods of identification, measurement and assessment of factors influencing the change of business results and identification of the reasons causingthe best management decisions.
Theoretical aspects of material resources analysis, including inventories, namely: goal, objectives, trends of analysis of these items are represented in the works of: V. Melnychuk, V. Strazheva, A. Poplyuyko, S.Derevianko and others (Table 1).
International experience shows that the inventory analysis procedure is a tactical one and it should be based on the following principles: order only what the company wants, paying no attention to tempting offers; have a minimum stock level, which corresponds to the sales terms and possible restocking; store inventories using particular storage system and use them as required; label stocks clearly and correctly; comply with the rules of unloading and storage of materials, verify the number and condition before signing the relevant documents [8].
Analyzing the achievementsof domestic scientists, it can be concluded that the overwhelming purpose of their research is to identify the assumptions, theoretical and practical reasoning for the improvement of organization and methods of study and analysis of inventories and rational organization of computational work at enterprises in modern economic conditions.
As a result of the study of the basic theoretical aspects of management analysis and proposals for improvement of the methods of scientific analysis of inventories a method of management analysis for bakery enterprises have been developed (Figure 1).
The source of information for the inventories analysis is the logistics plan, tenders, agreements for raw materials supply, forms of statistical reporting on availability and use of material
Table 1. Systematization of scientific views on the purpose, objectives and directions of analysis of inventories
No. Author Purpose, objectives and directions of analysis
1 2 3
1 V. Melnychuk [4] The objective of the analysis of inventories utilization rates is to reduce the share of material costs in the production costs structure. To characterize the efficiency of inventories utilization a system of generalizing and private indices is implemented. Generalizing indicesinclude consumption of resources, materials output ratio, factor of correlation in production growth and material costs in the production costs structure, inventoriesutilization factor
2 V. Strazheva [5] The main taskof the analysis of inventories of an industrial enterprise is to provide daily accounting of their arrival, savings at all the stages of their movement, analysis and planning of the rules concerning necessary stocks, utilization of material reserves forproduction by technically reasonable rules. Through the analysis of material resources anearly detection of inventories and their balances is possible, which are subjectto furtherutilizationin accordance with the current procedure designed for enterprises
3 A. Popliuiko [6] Systematic analysis of material resources at machine-building enterprises is done in the following domains: - A comprehensive study of the combination of factors,which are the bearers of reserves of material resources saving; - Analysis of changes in materials costs due to certain factors; methods of index analysis are used (indices ofspecific use of each type of inventory, indices of performance of inventories utilization standards); - Analysis of overallutilization performance of enterprise inventories in all, indicators of the specific use of different types of materials to produce certain products, performance indicators of the dynamicsof utilization of certain types of inventories (using time series method)
4 S. Derevianko [7] To determine the level up to which a company is suppliedby material resources it is necessary to: - Examine the settlement procedure and validity of contracts for material resources supply, as well as consignment terms; - Determine the nature of production inventoriesand variation of their structure; - Verify reasonableness of the norms of inventories stock and the need for material resources; - Reveal opportunities of reduction of inventories and needs for material resources; - Develop measures to reduce excessive inventories and unnecessary materials
EKOHOMIHHI nPOBËEMÈ PO3B/ITK0 TAËy3EÉ TA BI/IfllB EKOHOMIHHOÏ fllßflbHOCTI
Figure 2. Methodology of management analysis of current tangible assets*
Reference: developed by by the author.
Methodology of management analysis of current tangible assets
□ I_
resources and production costs, operational data of logistics department, information of analytical accounting on revenues, expenses and balance of material resources, etc. [9].
For the purpose of analysis and implementation of the set tasks the method of analysismust include an accurate list of indicators subject to mandatory study. A special significance of this stage of analytical work has been drawn attention to by N. Rusak, who noted that the list of indicators used for specific analytical work is an essential element of economic analysis techniques [10].
With this technique a company will be able to determine the optimal proportions of the necessary material resources, the time of delivery, expensesthe company bear forinventoriestransportation and storing, impact of the factors on production output and production costs, inventory efficiency, enabling a company to efficiently manage material resources.
Conclusions and recommendations for further research. Based on the conducted study it can be predicated that irrational use of current tangible assets is accompanied by unjustified growth of material costs, but growth of material costs does not match performance growth of baking industry enterprises, which confirms the findings of inefficient use of current assets. The study results justifythe need for Ukrainian processing enterprises for taking measures to rationalize and optimize the structure of current assets.
References
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