Если вы хотите наиболее точно оценить состояние of a company from a financial point of view, then you have to do a considerable amount of work. The financial condition is quite multifaceted, and in order to compile the characteristics closest to reality, it is required to determine the indicators characterizing financial stability, indicators of how efficiently the activity is carried out, as well as those coefficients that describe the liquidity of the enterprise. I would like to pay special attention to the last group of coefficients.
Before considering specific calculation methodsIt should be said that the liquidity of an enterprise is the ratio and correspondence between the most urgent debt of an enterprise and certain assets that can be used to pay it off.
Consideration of the coefficients will start with the mostcommon of them, which is called an indicator of current liquidity. It reflects the sufficiency of the current assets of the company to ensure short-term liabilities and is defined as their ratio. Like many other factors, it has a normative value. It is believed that, in a pinch, the urgent debts of an enterprise should be 100% covered by current assets. Thus, from the bottom, the indicator is limited to 1. At the top, the limit is 2 and is a requirement of efficiency. In other words, if the amount of current assets is more than twice the current liabilities, then we can talk about their surplus and inefficient use. These boundaries are very general and may not correspond to the characteristics of a particular enterprise or industry. Each firm can calculate its normal level of this ratio by assigning the sum of short-term liabilities and the normalized component of current assets to short-term liabilities. At observance of this level of the ratio, the company will be able to continue its activities, even if it returns all its urgent debts.
When excluding the least liquid from the numeratorpart of current assets - inventory - the indicator is converted into an intermediate liquidity ratio. Its meaning in this case will already be the following: to what extent the enterprise will be able to provide all of its most urgent obligations with the full collection of receivables. Purely arithmetically clear that this indicator can not be greater than the previous one. The lower limit is also traditionally set at 1. When calculating, one should take into account that some stocks can be very liquid. For example, the products that the organization ships are prepaid. This value should also be included in the calculation, and illiquid assets should be deducted.
Absolute liquidity of the enterprisecharacterized by the same coefficient. It reflects the share of short-term liabilities, which can be repaid with absolutely liquid assets (cash and financial investments equal to them). For developed economies, a share of 20-25 percent is traditionally considered acceptable, but for a number of reasons, Russian enterprises are at best 10% satisfied.
In some cases, resort to calculating the indicatorliquidity in the mobilization of funds. In this case, mobilization refers to the realization of stocks and the direction of the proceeds to return urgent debts. Accordingly, the coefficient is determined as the ratio of the amount of stocks to the total value of short-term liabilities. A normal level is a value of at least 0.5, but not exceeding 0.7.
If one or more of the factors go beyond the limits of the standards or have a negative trend, then management should think about how to improve the liquidity of the company.
