Hello student. Problems with solutions for DKB Tasks for money credit banks
TASKS according to DKB
Task 1. The average price level increased over the year by 9%, production volume - by 6%, the rate of money turnover decreased from 4 to 3.5 turns. Determine the volume of money supply at the end of the year, if at the beginning of the year it was 5 trillion. rub.
Solution: 1). 5 * 4 = 20 trillion. rub. 2). 20 * 1.09 * 1.06 / 3.5 = 6.6 trillion. rub.
Task 2. Production volume increased over the year by 7%, the average price level - by 8%, the money supply increased from 5 to 7 trillion. rub. Determine the speed of money turnover in a given year, if it is known that last year it was 4 turnovers.
Solution: 1). 5 * 4 = 20 trillion. rub. 2). 20 * 1.07 * 1.08 / 7 = 3.3 revolutions
Task 3. Determine whether it was possible to fulfill in 2006 the target for growth of the money supply within the range of 19-28%, established by the Main Directions of the Unified State Monetary Policy, if the volume of GDP increased from 21.6 to 26.8 trillion. rub., and the velocity of money circulation decreased by 13.5%.
Solution: 26.8 * 100 / 21.6 * 86.5 = 1.434 or 143.4%.
Answer: Money supply growth (43.4%) is greater than the target (19-28%).
Task 4. Monetary base - 3,484 billion rubles, cash outside banks (M0 aggregate) - 2,352 billion rubles, demand and time deposits - 5,357 billion rubles, deposits in foreign currency - 1,130 billion rubles. Calculate:
a) the volume of money supply in the national definition (M2 aggregate);
b) the volume of money supply according to the monetary survey methodology (M2X aggregate);
c) the value of the money multiplier.
Solution: 1). M2 = 2352 + 5357 = 7709 billion rubles. 2). M2X = 7709+ 1130 = 8839 billion rubles.
3). Money multiplier Dm = 7709 / 3484 = 2.213.
Task 5. The GDP volume is 30 trillion. rub., and the money supply - 7 trillion. rub. Define:
a) the coefficient of monetization of the economy,
b) the speed of money turnover.
Solution: 1). Km = 7/30 = 0.233 or 23.3%. 2). V = 30 / 7 = 4.29 revolutions per year.
Task 6. Bank multiplier equals 20, the maximum possible amount of money that can be created banking system- 80 million rubles. Define:
a) the norm required reserves,
b) the amount of the initial deposit.
Solution: 1). But = 1/20 = 0.05 or 5%. 2). 80 / 20 = 4 million rubles.
Task 7. The required reserve ratio is 4%. Deposit ratio (cash/deposit ratio) - 56% of deposit volume. The amount of required reserves is 80 billion rubles. Determine the volume of money supply in circulation (the sum of deposits and cash).
Solution: 1). Amount of deposits D = 80 / 0.04 = 2000 billion rubles.
2). Amount of cash H = 2000 * 0.56 = 1120 billion rubles.
3). The volume of money supply in circulation M = D + N = 2000 + 1120 = 3120 billion rubles.
Task 8. GDP is 13,243 billion rubles, and the money supply is 2,674 billion rubles. Calculate money supply turnover indicators:
a) turnover rate (number of revolutions) of the money supply;
b) duration of one revolution (in days).
Solution: 1). V = 13243 / 2674 = 4,952 revolutions. 2). T = 360 / 4, 952 = 72.7 days.
Task 9. The nominal exchange rate of the ruble to the US dollar is 25 rubles, the inflation rate in the USA is 3%, in Russia - 10%. Required:
a) determine the real exchange rate of the ruble to the dollar,
b) compare the real exchange rate with the nominal one,
c) explain what causes the difference between the levels of nominal and real exchange rates.
Solution: 1). RK = 25 * 1.03/ 1.10 = 23.41 rub. 2). and 3). The real exchange rate is higher than the nominal exchange rate,
since the inflation rate in Russia is higher than in the USA.
Problem 10. The bank has closed currency positions. During the day, he bought: 1,000 pounds sterling for Japanese yen at a rate of 223 yen per pound and 1,000 US dollars for pounds sterling at a rate of $1.8860 per pound. Determine the value of foreign exchange positions in pounds, yen and dollars by the end of the working day.
Solution: 1). A long position was opened in pounds + 1000 pounds. Art. and short yen - 223,000 yen (223 * 1000). 2). A long position in dollars + 1000 dollars was opened. USA. The pound sterling position decreased by £530.2. (1000 / 1.8860) and amounted to +469.8 pounds sterling (1000 - 530.2).
Problem 11. How did the real exchange rate of the euro against the ruble change if the nominal rate increased from 34.16 to 34.73 rubles. per euro, and prices increased in the euro area countries by 1.9%, in Russia - by 9%?
Solution: 1). The nominal euro/ruble exchange rate increased by 1.35%
(34,73 - 34,16)*100/34,73 = 1,35%
2). The real euro/ruble exchange rate increased by 0.052 or 5.2%
a) 1.0135 * 1.019/1.09 = 0.948. b) 1.0 - 0.948 = 0.052.
Problem 12. How did the nominal and real exchange rates of the ruble against the euro change if the nominal exchange rate of the euro against the ruble increased from 34.85 to 35.00 rubles. per euro, and prices increased in the euro area countries by 2%, in the Russian Federation - by 10%? Solution: 1) Decrease NK = 1/34.85-1/35 = 0.0287-0.0286
0.0001 euros per 1 rub. 2) Decrease in RK = 0.0287*1.10/1.02-0.0286*1.10/1.02=0.0309-0.0307=0.0002
Problem 13. On November 1, 2006, the central bank provided a commercial bank with a loan for 10 calendar days at 7.5% per annum in the amount of 10 million rubles. Define:
a) the amount of accrued interest for using the loan,
b) the increased amount of debt on the loan.
Solution: 1). 10 million rubles * 0.075 * (10 - 1)/ 365 = 18,493 rubles.
2). 10 million rub. + 18493 rub. = 10018493 rub.
Problem 14. In the first month the inflation rate was 14%, in the second - 9%, in the third - 7%. What is the inflation rate for the quarter?
2). Inflation rate for the quarter R = (1.33 - 1) * 100% = 33%.
Problem 15. The volume of money supply according to the monetary survey methodology (M2X aggregate) in 2006 increased from 8 to 11 trillion. rub., money supply in national definition (M2 aggregate) - from 7 to 10 trillion. rub. Required: a) determine the dynamics of the share of deposits in foreign currency in the structure of the money supply; b) characterize the impact of the dynamics of the share of deposits on the process of de-dollarization of the Russian economy.
Solution: 1). (11-10)/ (8-7)*100%=100%. 2). 1: 11/ 1: 8 = 0.727 or 72.7%.
Conclusion: The dollarization coefficient decreased by 27.3% (100-72.7).
Problem 16. The volume of production increased by 5%, the money supply - by 25%, the velocity of money turnover decreased by 4%. Define:
a) change in the average price level,
b) change in the purchasing power of the ruble.
Solution: 1). The increase in the average price level is 14% (1.25*0.96/ 1.05 -1=0.14).
2).Decrease in the purchasing power of the ruble by 12.29% (1-1/1.14 = 0.1229).
Problem 17. Determine the cross rate of the euro in pounds sterling if 1 pound = 1.7664 dollars. USA, 1 euro = 1.2318 dollars. USA.
Solution: 1 dollar. USA = 1/ 1.7664 f.st. = 0.5661 f.st.
1 euro = 1.2318 US dollars = 1.2318* 0.5661 GBP = £0.6973.
Problem 18. The central bank bought $75 million worth of treasury bills from commercial banks 15 days before maturity at a discount rate of 5%. How can the volume of money supply change if the required reserve ratio is 4%?
Solution: 1).The amount of debt indicated in the bills S=75/1-15: 360*0.05=75.15 million dollars.
2).Decrease in the money supply (75.15-75)*1/ 0.04 = 3.75 million US dollars.
Problem 19. The investment portfolio contains 1,500 common shares with a par value of 100 rubles, 600 preferred shares with a par value of 1,000 rubles, 700 bonds with a par value of 1,000 rubles. Determine the most profitable security in the investment portfolio if the amount of dividends on common shares is 30 thousand rubles, on preferred shares - 60 thousand rubles, and the amount of interest on bonds is 56 thousand rubles.
Solution: 1). The profitability of common shares is 0.2 (30000/1500*100).
2).Yield of preferred shares - 0.1 (60000/600*1000).
3). Bond yield - 0.08 (56000/700*1000).
Answer: The most profitable is a simple share with a yield of 20%.
Problem 20. Bill of exchange in the amount of 500 thousand rubles. was presented to the bank for accounting 3 months before maturity and was recorded at a discount rate of 5%. Calculate:
a) the amount paid to the owner of the bill; b) the amount of income (discount) of the bank.
Solution: 1).500 thousand rubles*(1-0.05*3/12)=493750 rubles. 2).500000-493750=6250 rub.
Problem 21. Determine the minimum investment period if the commission for joining the OFBU is 2%, the commission for exiting the OFBU is 2.5%, the amount of the manager’s remuneration is calculated at 1.5%, and the fund’s profitability for the year is 24%.
Solution: 1).Investment expenses are 6% (2 + 2.5 + 1.5).
2).The minimum investment period is 0.25 years (6/24).
Problem 22. When the bank was created, 1,500 ordinary shares with a par value of 1,000 rubles were issued, which were sold at a rate of 1,300 rubles. In addition, for two years of activity, the bank’s retained earnings amounted to 60,000 rubles. and 80,000 rub. respectively. The bank did not issue preferred shares. Determine the size of the bank's capital two years after the start of its activities.
Solution: 1). Authorized capital - 1,500,000 rubles (1,500 * 1,000). 2. Additional capital - (1,300 - 1,000) * 1,500 = 450,000 rubles. 3). retained earnings-140,000 rub. (60,000+80,000).
Answer: The bank's capital will be 2,090,000 rubles. (1500000 + 450000 + 140000).
Problem 23. The bank accepts deposits for 4 months at a rate of 5% per annum, for 5 months at a rate of 6% per annum and for a year at a rate of 7% per annum. Deposit amount - 100 thousand rubles. Determine the increased deposit amount for the following periods: a) 4 months; b) 5 months; in year.
Solution: 1). 100000*(1+0.05*4/12)=101665 rub. 2).100000*(1+0.06*5/12) = 102500 rub.
3). 100000*(1 + 0.07) = 107000 rub.
Problem 24. The bank issued a loan in the amount of 600,000 rubles. for three quarters at a simple interest rate, which in the first quarter was 12% per annum, and in each subsequent quarter increased by 1 percentage point. Determine: a) the accumulated amount of debt;
b) the amount of interest for using the loan.
Solution: 1) 600000*(1+0.25*0.12+0.25*0.13+0.25*0.14)=658500 rub. 2).658500-600000=58500 rub.
Problem 25. The bank issued a loan in the amount of 6,000,000 rubles. for 2 years at an annual compound interest rate of 15% per annum. The loan must be repaid in a lump sum with interest at the end of the term. Determine: a) the accumulated amount of debt; b) the amount of interest.
Solution: 1).6000000*(1+0.15)*(1+0.15)=7635000 rub. 2)7635000-6000000=1635000 rub.
Problem 26. The borrower takes out a loan in the amount of 120,000 rubles. for a period of 3 months. After 3 months, the borrower repays the loan and pays 3,000 rubles. percent on it. Determine the annual simple interest rate on the loan.
Solution: 3000*100*360/120000*90 = 10%
Problem 27. The bank issued a loan to the first borrower in the amount of 150,000 rubles. for a period of 2 months at a rate of 15% per annum and for the second borrower - in the amount of 250,000 rubles. for a period of 3 months at a rate of 20% per annum. Determine the amount of interest received by the bank on loans provided.
Solution: 150000*0.15*2/12 + 250000*0.2*3/12 = 16250 rub.
Problem 28
Solution: H2 = 150000/1700000 = 0.088 or 8.8% (H2 = 8.8% below the standard - 15%).
H3 = 2500000/1700000 +4500000 = 0.403 or 40.3% (H3 = 40.3% below the standard - 50%).
Problem 29. The bank balance sheet data is given, thousand rubles.
Determine: a) return on capital ratio and its economic meaning;
b) the return on operating assets ratio and its economic meaning.
Solution: 1). 4660/55900=0.083 or 8.3% (capital efficiency).
2).4660/330500 = 0.014 or 1.4% (efficiency indicator of working assets).
Problem 30. The company's balance sheet data is given, thousand rubles.
Required :
a) determine the current liquidity ratio and compare it with the optimal value;
b) determine the absolute liquidity ratio and compare it with the optimal value.
Solution: 1). 290442/80500 = 3.6 (standard value is 1.0 - 2.0).
Conclusion: the company has the ability to pay off short-term obligations using current assets.
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Tasks for independent work
by discipline "Money, credit, banks"
1. Explanatory note
1.1. The practical tasks given below are designed for independent work of full-time and part-time students. Without this work, correspondence students are not allowed to take the final certification.
Full-time students with passes, at the request of the teacher, complete the same tasks as part-time students. Only after this they are allowed to take the final certification.
The purpose of this assignment is to consolidate theoretical material and gain practical skills in calculating the most important taxes.
1.2. Completing the task involves completing theoretical questions and solving a problem.
The work is graded “pass” or “fail.” Credit is given if at least four tasks are completed. Uncredited works are sent for revision.
2. Complete theoretical questions.
1. Issue of cash
2. Letter of credit form of payment
3. Essence and functions of credit
4. The need for money, its origin and essence
5. Factors determining the level of loan interest
7. Types of money. Their characteristics
8. Form of loan and its boundaries
9. Basic provisions for organizing the bank’s cash turnover
10. Functions of money. Their composition and features
11. The essence of credit and functions of credit
12. Types of banks, their characteristics
14. The concept of loan interest and its classification
15. Banking system. Functions of banks
17. Means of international payments
20. Bank interest, its base rate
21. Payments by checks
22. The concept of “issue of money” and “issue of money”. Forms of issue
23. Exchange rate and factors influencing its size
24. Passive operations of commercial banks
27. Acceptance form of payments. Interbank settlements
28. Essence, forms of manifestation and causes of inflation
29. Forms of payments in international practice
33. Essence, forms of manifestation and causes of inflation
35. Bank interest and its base rate
36. Banking system. Functions of banks
37. Exchange rate and factors influencing its size
38. The monetary supply M2 includes
39.Functions of the Central Bank
Solve problems.
1. Deposit worth 1000 rubles. invested in the bank for 120 days at 6%. It is required to determine the amount of money that the client will receive in 120 days.
2. The company took out a loan of 100 million rubles. for a period of two years at 15% per annum and upon expiration of the loan period the loan must be repaid with interest. How much should the company pay? (Simple interest)
3. The owner of the bill intends to discount his bill of exchange in the bank 30 days before the expiration of the payment period at a discount rate of 15%. The nominal value of the bill is 150 thousand rubles. Determine what amount of discount interest the bank will receive in this case from this operation.
4. The bank issued a loan in the amount of 5 million rubles. for six months at a rate of 30% per annum (simple interest). Determine the amount to be repaid and the amount of interest on the loan.
5. The company applied to a commercial bank for a loan in the amount of 200 thousand rubles. for a period of 3 years to renew its transport fleet. The bank agreed to provide the company with a loan at an interest rate of 20% per annum. Determine the amount of debt repayment by the company within this period in the form of a one-time payment of simple interest.
6. Loan in the amount of 1 million rubles. issued 05/17/07 to 08/22/07. When issuing a loan, we assume that the price index at the time of repayment is 1.2. The required real profitability of the credit operation is 4% per annum. The estimated number of days in a year is 365 days. Define:
a) the interest rate on the loan taking into account inflation;
b) the repaid amount;
c) the amount of interest on the loan.
7. The company deposited 25 million rubles into a commercial bank. from September 10 to September 26 of the same year. The bank charges 36% per annum on demand deposits. The percentages are simple. Determine the return on the invested amount.
8. In the country, the average price of goods sold per month was 50 rubles. at a rate of turnover of the monetary unit (ruble) during this period of 5 revolutions. At the same time, 6.0 billion rubles were sold. retail product. It is necessary to calculate the amount of money required for circulation.
9. The bank issued a loan to the client in the amount of 200 thousand rubles. at 10% per annum for 3 years. Providing at the same time that the debt must be repaid in a lump sum upon the expiration of the loan term. It was agreed that the interest rate would be calculated using compound interest. Determine the amount that the bank will receive under this condition at the end of the loan term.
10. There are two countries in which national currencies exist, and in them the prices of conditional “baskets” of consumer goods are determined. In country, let’s call it “A,” the price of such a “basket” with its set of goods was 3,000 rubles, and in country “B” it was 10 dollars. It is necessary to determine what the exchange rate in rubles in country “A” will be under these conditions.
3. The task option is selected according to the table.
OPTION | Last digit of the grade book |
First (question 1,5,7,10; task 2) | |
Second (question 9,2,15,38; task 7) | |
Third (question 12,18,27,40; task 9) | |
Fourth (question 8,17,21,26; task 3) | |
Fifth (question 11,16,20,32; task 5) | |
Sixth (question 6,22,25,44; task 4) | |
Seventh (question 23,29,30,37; task 1) | |
Eighth (question 4,28,31,35; task 6) | |
Ninth (question 34,36,39,42; problem 8) | |
Ten (question 13,19,33,43; problem 10) |
4. The task is completed on the computer in font 14 Times New Roman format with one and a half spacing or manually on sheets of A size 4. The first page is the title page (attached), then the solution to the task.
Literature that is used in the process of performing the work is indicated at the end. In this case, the bibliography is compiled in the following order: Presidential decrees Russian Federation; laws of the Russian Federation; resolutions of the Government of the Russian Federation; regulations and acts; special literature; educational literature; periodical literature.
Tasks for the discipline
"Money, credit, banks"
TOPIC 1. MONETARY SYSTEM……………………………………………………4
TOPIC 2. CREDITS AND MONETARY SYSTEM………………..5
TOPIC 3. FINANCIAL AND CREDIT INSTITUTIONS………………………..7
TOPIC 4. MODERN TRENDS IN MONETARY POLICY………………………………………………………………………………………8
TOPIC 5. MONETARY POLICY…………………………..10
TOPIC 6. FINANCIAL MARKET………………………………………….11
TOPIC 7. SECURITIES MARKET………………………………………………………...14
TOPIC 8. PUBLIC FINANCE………………………………17
TOPIC 9. INFLATION………………………………………………………19
TOPIC 10. FINANCIAL SUPPORT OF ENTERPRISES………………………………………………………………………………………21
TOPIC 11. METHODS OF MANAGING THE FINANCE FLOW OF AN ENTERPRISE………………………………………………………………………………..33
TOPIC 12. SOURCES OF ARISING AND COVERING RECEIVABLES AND ACCOUNTS PAYABLE…………………………..35
TOPIC 13. FINANCIAL PROBLEMS OF ENTERPRISE INSOLVENCY..………………………………………………………………………………39
TOPIC 14. CHARACTERISTICS OF THE FINANCIAL RESULTS OF THE ENTERPRISE’S ECONOMIC ACTIVITIES…………………………...40
TOPIC 15. MORTGAGE LENDING…………………………………49
BIBLIOGRAPHICAL LIST……………………………………………………51
TOPIC 1: MONETARY SYSTEM.
TASK 1.1.
Reserves of commercial banks amount to 15% of the amount of non-cash money.
Calculate the value of the monetary base under the following conditions:
Money supply (M2)
Solution:The size of the monetary base:
Cash + Reserves of commercial banks = M0 + Reserves of commercial banks
For example, the value of the monetary base at 1.01 will be:
419.3 + 15 % * 725.0 / 100 % = 528.05
Table.
Monetary base
TASK 1.2.Identify the dynamics of the velocity of money circulation based on the following data:
Table.
Initial data
Solution:Velocity of money circulation (V) is calculated as follows:
V= GNP / Money supply
For example, the velocity of money circulation is 1.01. is:
436 .4 / 1144.3 = 0.38
Table.
Circulation speed
Thus, the velocity of money circulation is maximum at 1.03,V = 0.43TASK 1.3.
Based on the data of task 1.1. (M2):
determine how the rate of growth of the money supply affects the rate of change in the velocity of money circulation,
graphically depict the velocity of money circulation.
Solution:
From the previous problem it is clear that the rate of growth of the money supply affects the rate of change in the velocity of money circulation. Namely: the lower the growth rate of the money supply at a given point in time, the higher the rate of change in the velocity of money circulation. And vice versa: the higher the growth rate of the money supply at a given point in time, the lower the rate of change in the velocity of money circulation.
TASK 1.4.
The average mileage of a car is 50 km per day; 20 working days; gasoline consumption is 8 liters per 100 km. Discount on the card - 5% price of gasoline 7 rub./l.
Calculate the efficiency of using plastic cards when making payments for fuels and lubricants for the year.
Solution:
Average car mileage per year:
Vehicle mileage per day * Number of working days in a month * 12 months. = 50 * 20 * 12 = 12000 km.
Gasoline costs per year (in liters and in monetary terms):
8 * 12000 / 100 = 960 liters.
960 * 7 = 6720 rub.
Let's find the efficiency of using plastic cards:
6720 * 5% / 100% = 336 rub.
TASK 1.5.
By the beginning of 2000, the structure of the total money supply of the Russian Federation had the following composition: M0 – 29.8%; M1 (without M0) – 66.6%; M2 (without M1) – 3.1%; M3 (without M2) – 0.5%.
By the beginning of 2001: M0 – 27%; M1 – 69%; M2 – 2%; M3 – 2%.
Draw a conclusion about what these data indicate.
Solution:
M0 - cash - there was a decrease in the share of the money supply to 27%.
M1 (without M0) – funds in accounts legal entities, State Insurance funds, demand deposits in the Security Service and deposits of commercial banks increased by 2.4%.
M2 (without M1) – time deposits of the population in savings banks decreased by 1.1%.
M3 (without M2) – certificates of deposit and government securities increased by 1.5%.
These data indicate that the population is investing cash in securities and bank deposits, and since these investments are more risky, we can conclude that the economic situation is stabilizing.
TOPIC 2: CREDITS AND MONETARY SYSTEM.
TASK 2.1.
Loan in the amount of 10,000 rubles. issued for 1 year. The real profitability of the operation at a simple interest rate is 6% per annum. Determine the accrued amount.
Solution:
Using the simple interest formula:
S =P * (1 + I * t /K), where
I = 6%
t = 365 days.
K = 365 days.
P = 10,000 rub.
S = 10000 * (1 + 0.06 * 365 / 365) = 10600 rub.
Thus, the increased amount is 10,600 rubles.
TASK 2.2.
Contract for a loan in the amount of 50,000 rubles. compiled for 3.5 years. The interest rate is determined as follows: 1 year – 5%, in each subsequent half-year the rate is increased by 0.5%. Determine the increment multiplier and the incremental amount.
The increase at variable interest rates is determined by the formula:
S = P * (1 + n1 * i1 + n2 * i2 + … + n * i) = P * k;
where P is the loan amount;
n is the validity period of the interest rate.
i – variable interest rate;
k – increment multiplier.
k = 1 + 1 * 0.05 + 0.5 * 0.055 + 0.5 * 0.06 + 0.5 * 0.065 + 0.5 * 0.07 + 0.5 * 0.075 = 1.2125
S = 50,000 rub. * 1.2125 = 60625 rub.
TASK 2.3.
After 350 days from the date of signing the contract, an amount of 15,000 rubles must be returned. The loan is issued at a simple rate of 7% per annum. (K = 366 days). Determine: 1) the amount of the loan; 2) the amount of interest money.
Solution:
S = P * (1 + I * t / K), where
S = 15,000 rub.
T = 350 days.
K = 366 days.
Let's first determine the loan amount P:
P = S / (1 +I * t / K )
P = 15000 / (1 + 0.07 * 350 / 366) = 14058.1 rub.
TASK 2.4.
Loan in the amount of 20,000 rubles. issued on March 12 until December 25 inclusive, at 7% per annum. Leap year. Determine the amount of the accrued amount for the exact and approximate number of days.
Solution:
S = P * (1 + I * t / K ), where
P = 20,000 rub.
I = 7%
T exact = 288 days.
T approx. = 283 days
Thus, the amount of the accrued amount for the exact number of days is:
S = 20000 * (1 + 0.07 * 288 / 366) = 21101.64 rubles.
The amount of the accrued amount for the approximate number of days is:
S = 20000 * (1 + 0.07 * 283 / 366) = 21082.5 rubles.
TASK 2.5.
After 250 days from the date of signing the contract, an amount of 20 thousand rubles must be returned. The loan was issued at a simple interest rate of 10% per annum. Determine the size of the loan and the amount of interest money.
Solution:
S = P * (1 + I * t / K), where
S = 20,000 rub.
I = 10%
T = 250 days.
K = 365 days.
Let us first determine the amount of the loan R.
P = S / (1 +I * t / K )
P = 20000 / (1 + 0.1 * 250 / 365) = 18709.07 rub.
TOPIC 3. FINANCIAL AND CREDIT INSTITUTIONS.
TASK 3.1.
Loan in the amount of 30,000 rubles. issued for 200 days, the real profitability of the operation at a simple interest rate is 7% per annum; the inflation index is expected to be 2.5 times over the loan term. Determine: 1) the growth rate taking into account inflation; 2) simple interest rate taking into account inflation; 3) the repayable amount taking into account inflation.
Solution:
Based on the inflation index, the inflation rate will be (I - 1)*100=150% for the loan term (200 days).
Let's determine a simple interest rate taking into account inflation. The inflation rate for the year will be 150 * 365 / 200 = 273.75%
So the interest rate is 273.75 + 7 = 280.75%
S = P * (1 + I * t / K )
S = 30000 * (1 + 0.07 * 200 / 365 + 1.5) = 76150.7
The repaid amount, taking into account inflation, will be: 76150.7 rubles.
The increase coefficient taking into account inflation will be: 76150.7 / 30000 = 2.54
TASK 3.2.
The loan is issued on March 12 at a simple discount rate of 7%. The borrower must repay 20,000 rubles on December 25. Annual inflation rate 40%, time base (K = 366 days). Determine: 1) The discount rate taking into account inflation; 2) The amount issued to the borrower, taking into account inflation; 3) The amount of the discount.
Solution:
The discount rate taking into account inflation will be 7 + 40 = 47%
S = P * (1 + I * t / K)
T = 288 days.
K = 366 days.
P = S / (1 + I * t / K )
P = 20000 / (1 + 0.47 * 288 / 366) = 20000 / 1.37 = 14598.5 rub.
The discount amount is 5401.5 rubles. (20000 – 14598.5)
TASK 3.3.
The bill was issued in the amount of 20 thousand rubles. with a payment deadline of November 30. The owner of the bill took it into account at the bank on October 10 at a discount rate of 7%. Determine the amount of the amount issued to the owner of the bill and the amount of the discount.
Solution:
The discount amount is determined by the formula:
S = K * T * N / (100 * 360)
where S is the discount amount
K – bill amount
T – period until payment is due
N – discount rate, set by the bank
S = 20000 * 51 * 7 / (100 * 360) = 198.33 rub.
The amount issued to the owner is 20,000-198.33 = 19,801.67 rubles.
TASK 3.4.
The company purchased a bill of exchange from the bank, according to which it should receive 66 million rubles in a year. (face value of the bill). At the time of acquisition, the price of the bill was 30 million rubles. Define the profitability of this transaction, that is, the interest rate.
Solution:
The profitability of this operation is determined as the difference between the redemption price (par value) and the sale price bank bill, which is below par.
D = 66 – 30 = 36 million rubles, i.e. 120% per annum.
TASK 3.5.
The nominal price of the bill is 15 million rubles. The bank buys it, paying 14 million rubles. 6 months before the payment is due. Calculate the discount interest and the discount rate on the bill of exchange loan.
Solution:
The discount rate on a bill is the interest rate used to calculate the discount rate. Discount interest is a fee charged by the bank for advancing money when discounting a bill. Discounting a bill of exchange is a purchase before the payment is due. Accounting interest represents
is the difference between the face value of the bill and the amount paid to the bank when purchasing it.
Thus, the accounting interest is 1 million rubles. (15 – 14)
Discount rate = (15 - 14) / (15 * 6) * 12 * 100 = 13.33
TOPIC 4. MODERN TRENDS IN MONETARY POLICY .
TASK 4.1.
Keynes believed that investments are insensitive to changes in interest rates. In addition, he thought that during a depression, interest rates seemed to reach a certain minimum level, below which they could no longer fall. This corresponded to the statement that the demand curve for money at low rates of interest would become extremely elastic, in fact, almost horizontal. This paradoxical state of affairs has been called the “liquidity trap.” The explanation for such an unusual term is quite simple: the tendency of people to accumulate liquid assets (money) will prevent interest rates from falling, keeping the economy trapped, because high interest rates do not contribute to an increase in the volume of planned investments.
Keynes and his followers believed that in a depression, the monetary sector plays a very large role in the economic system.
Rice. 4.1. Money during the Depression
Name two reasons why the monetary sector plays a significant role in the economic system (based on the analysis of Fig. 4.1 of part A).
Part (B) of Figure 4.1.1 shows that, for example, curves MD1, MD2 have the indicated elasticity characteristics. What will happen to prices and what effect will they have on the money demand curve?
1) Explain Figure 4.1.1 in part (B). 2) Draw appropriate conclusions.
Solution:
As shown in part A of Figure 4.1, this happens for two reasons. The first is that when interest rates are low, the demand curve for money, as Keynesians believed, becomes extremely elastic. Another reason is that the planned investment schedule is, they assume, almost completely inelastic. In part B of Figure 4.1. it is shown that if these curves have the indicated elasticity characteristics, then a fall in prices will shift the demand curve for money to the left, but will not have any (or the smallest) impact on interest rates and the volume of planned investments. This was one of the reasons why Keynes believed that the aggregate demand curve of an economic system would occupy an almost vertical position. The logical consequence of these arguments was Keynes's conclusion that economic system unable to regain her strength on her own after depression. In addition, Figure 4.1. in Part B explains why Keynes's assumptions imply that expansionism money-credit policy has little impact on interest rates and real planned investment. This means that such policies will be of little use in lifting the economy out of depression. The only reliable path to recovery, according to Keynesians, lies through expansionary fiscal measures.
TOPIC 5. MONETARY POLICY.
TASK 5.1.
The initial amount of debt is 20 thousand rubles. Determine the amount of debt after 2 years, using a simple and compound interest rate of 7% per annum.
Solution:
Amount of debt at simple interest rate
S = 20000 * (1 + 0.07 * 2 * 365 / 365) = 22800 rub.
Amount of debt at compound interest rate
S = 20000 * (1 + 0.07 * 365 / 365) 2 = 22898 rub.
TASK 5.2.
Loan in the amount of 10 thousand rubles. issued for 2.5 years. The compound interest rate during the term is determined as follows: first 0.5 years = 8%; every subsequent 0.5 year the interest rate increased by 0.5%. Determine k ns and S.
Solution:
0.5 years S = 10000 * (1 + 0.08 * 182.5 / 365) = 10400
1 year S = 10400 * (1 + 0.085 * 182.5 / 365) = 10842
1.5 years S = 10842 * (1 + 0.09 * 182.5 / 365) = 11329.9
2 year S = 11329.9 * (1 + 0.095 * 182.5 / 365) = 11868.07
2.5 years S = 11868.07 * (1 + 0.1 * 182.5 / 365) = 12461.5
those. the accumulated amount S is: 12461.5
the buildup factor K ns is: 12461.5 / 10000 = 1.246
TASK 5.3.
Loan in the amount of 50 thousand rubles. issued for 3 years. The real profitability of the operation should be 8% per annum at a compound interest rate. The inflation index over the loan term is expected to be 2.5. Determine k nsi ; i t and S t .
Solution:
Let's determine the interest rate taking into account inflation
Since the inflation index is 2.5, the inflation rate is (2.5 - 1) * 100 = 150% over the loan term (3 years).
those. the inflation rate will be 50% per year.
The interest rate, taking into account inflation, will be 58% per annum (50 + 8)
S = P * (1 + I * t / K) n
t = 365 days.
K = 365 days.
S = 50000 * (1 + 0.58 * 365 / 365) 3 = 197215.6 rub.
K nsi = 197215.6 / 50000 = 3.94
TOPIC 6. FINANCIAL MARKET.
TASK 6.1.
A small enterprise purchased metal-cutting machines worth RUB 180.0 million. The annual depreciation rate for machine tools is 12%. In order to create financial conditions to accelerate the introduction of scientific and technical achievements into production and increase the interest of enterprises in accelerating the renewal and technical development of the active part of fixed assets (machinery, equipment, Vehicle) a small business entity has the right to apply the accelerated method of calculating depreciation of fixed assets production assets with attribution of the accrued amount to production (circulation) costs in an amount twice as high as the norms established for the corresponding types of fixed assets. Along with the use of the accelerated depreciation mechanism, these enterprises can additionally write off as depreciation charges up to 50% of the original cost of fixed assets with a service life of more than 3 years.
Calculate: 1) the amount written off to the cost of depreciation charges for purchased metal-cutting machines in the first year of their operation; 2) the depreciation period of the purchased equipment.
Solution:
1) In the first year of operation, MP can charge depreciation at double the rate in the following amount:
In the form of depreciation, you can add another 50% of the cost of the machines:
180 * 50% = 90 million rubles.
Therefore, in the first year of operation, 43.2 + 90 = 133.2 million rubles can be attributed to the cost price.
2) In the second year of operation, MP can charge depreciation in the amount of:
180 * 12% * 2 = 43.2 million rubles.
Total for two years: 176.4 million rubles. or 98% of the original cost of the machines. Depreciation per month is 12% * 2/12 months. = 2%
Therefore, in 2 years and 1 month, the initial cost of the machines will be completely transferred to the cost of manufactured products and included in production costs
(98% + 2% = 100%). Therefore, the depreciation period is 2 years and 1 month.
TASK 6.2.
Data for calculation. The planned financial indicators of the business entity are: depreciation charges - 130.0 million rubles, contributions to the repair fund - 29.2 million rubles, increase in the need for working capital - 240.7 million rubles, increase in accounts payable constantly at the disposal of the business entity - 20.7 million rubles, profit – 1380.0 million rubles, amount of profit tax – 435.0 million rubles, income tax – 7.5 million rubles, target fee for the maintenance of law enforcement agencies – 18.2 million rubles, tax on content housing stock and objects of the social and cultural sphere - 41.7 million rubles, property tax - 27.2 million rubles, the amount of profit allocated for the purchase of equipment - 410.1 million rubles, contributions to reserve fund constitute 5% of net profit. All calculated planned indicators must be summarized in financial plan(balance of income and expenses). Draw up a financial plan for a business entity for the quarter.
Solution:
Table.
Financial plan of a business entity for the quarter.
* - to balance the balance, we will take other expenses and deductions of the business entity equal to 252.1 million rubles.
TASK 6.3.
Table.
** - calculated page 1 divided by page 2;
***calculated 360 days divided by page 3
Analyze duration of turnover of current assets.
Calculate e the amount of additional funds attracted into circulation.
Do conclusions.
Solution:
2. The amount of additional funds attracted into circulation = 566572 / 163.8 * 12.7 = 43928 thousand rubles.
TASK 6.4.
Table.
Changing the duration of an enterprise's cash turnover
by month
Do conclusions about the sufficiency of funds at the enterprise.
Solution:
TOPIC 7. SECURITIES MARKET.
TASK 7.1.
The share has a nominal and market value. The share price indicated on it is the par value of the share. The price at which a share is actually purchased is called the market value, or market value (stock price). The stock price is directly dependent on the size of the dividend received on it and inversely dependent on the level of loan (bank) interest. Calculate the share price and its market value using the following initial data: nominal share price 1000 rubles, dividend - 60%, loan interest - 30%.
Solution:
Share price
= 
Market price =
=
rub.
TASK 7.2.
The profit of the joint-stock company, remaining after all deductions and intended for dividend payments, amounted to 200.0 million rubles for the year. The total amount of shares is 500.0 million rubles, including preferred shares – 50.0 million rubles. and ordinary 450.0 million rubles. For preferred shares it is established fixed size dividend – 50% of the nominal value. Define: 1) annual amount dividends on preferred shares; 2) the amount of dividends on ordinary shares; 3) the average size of dividends for all shares.
Solution:
Annual
Amount of shares * Dividend / 100% = 50.0 * 50% / 100% = 25 million rubles.
Profit – Annual amount of dividends on preferred shares = 200 – 25 = 175 million rubles.
Amount of dividend payments / Amount of shares * 100% = 175 / 450 * 100% = 38.9%
Average dividend for all stocks:
Profit / Total shares * 100% = 200 / 500 * 100% = 40%
TASK 7.3.
The total assets of the JSC are 600.0 million rubles, the amount of debts is 115.0 million rubles, the number of paid shares is 2500 pcs. Calculate the book value of a share of a closed joint stock company.
Solution:
(Amount of assets - Amount of debts) / Number of paid shares = (600 - 115) / 2500 = 0.194 million rubles. = 194 thousand rubles.
TASK 7.4.
The profit of the joint-stock company aimed at paying dividends is 75.0 million rubles. The number of shares in circulation is 100 thousand, of which 40% are preferred, the declared level of dividends on preferred shares is 90% of their nominal price equal to 1000 rubles. Calculate the amount of dividends on preferred and common shares.
Solution:
Nominal price of shares * Number of shares * Share of preferred shares / 100% = 1000 rub. * 100 thousand pcs. * 40% / 100% = 40 million rubles.
Amount of dividends on preferred shares:
Par value of preferred shares * Dividend level / 100% = 40 million rubles. * 90% / 100% = 36 million rubles.
Amount for payment of dividends on ordinary shares:
Profit – Amount of dividends on ordinary shares = 75 million rubles. – 36 million rubles. = 39 million rubles.
Amount of dividends on ordinary shares:
Amount for payment of dividends on ordinary shares / (Nominal price * Quantity) = 39 million rubles. / (1000 rubles * 60 thousand pieces) * 100% = 65%
TASK 7.5.
Net profit of the joint-stock company is 250.0 million rubles; dividend payout ratio is 0.15, the number of shares in circulation is 50,000, of which 40% are preferred, the nominal price of the share is 1,000 rubles. The declared level of dividends on preferred shares is 80% of their nominal price. Calculate the amount of dividends on shares.
Solution:
Dividend payment amount:
Net profit * Dividend payout ratio = 250 million rubles. * 0.15 = 37.5 million rubles.
Par value of preferred shares:
Nominal price * (Number of shares * Share of preferred shares * 100%) = 1000 rub. * (50,000 pcs. * 40% / 100%) = 20 million rubles.
Amount of dividends on preferred shares:
Nominal value * Dividend level / 100% = 20 * 80% / 100% = 16 million rubles.
Amount of dividends on ordinary shares:
Amount for payment of dividends – Amount of dividends on preferred shares = 37.5 – 16 = 21.5 million rubles.
Amount of dividends on ordinary shares:
Amount of dividends on ordinary shares / Nominal share price * Quantity * Share of ordinary shares / 100% = 21.5 / 1000 * 50000 * 60% / 100% = 71.7%
TASK 7.6.
The company purchased a bill of exchange from the bank, according to which it should receive 66 thousand rubles in a year. At the time of acquisition, the price of the bill was 30 thousand rubles.
Determine the profitability of this transaction.
Solution:
Income in monetary terms will be:
Price of the bill in a year – Price of the bill at the time of its acquisition = 66 – 30 = 36 thousand rubles.
The profitability of the transaction will be:
Income * 100% / Price of the bill at the time of its acquisition = 36 * 100% / 30 = 120%
TASK 7.7.
Share with a nominal value of 200 thousand rubles. annually brings a dividend of 20 thousand rubles. The loan interest is 4%.
Determine at what rate the shares of this company will be quoted on the stock exchange.
Solution:
The dividend amount in percentage terms will be:
Dividend in monetary terms * 100% / Par value of the share = 20 * 100% / 200 = 10%
The stock price is determined as:
Dividend amount in percentage terms * 100% / Loan interest = 10% * 100% / 4% = 250%
The share will be quoted at the rate:
Nominal value of the share * Share price / 100% = 200 * 250% / 100% = 500 thousand rubles.
TASK 7.8.
In 1992, the Daimler Benz joint stock company issued a dividend of 12 marks per share with a par value of 50 marks, with the stock exchange rate set at 800 marks.
Determine the loan interest rate.
Solution:
The loan interest will be:
Dividend * 100% / stock exchange price = 12 * 100% / 800 = 1.5%
TASK 7.9.
The shareholder has 60 shares. JSC increases authorized capital from 50 to 60 million rubles, i.e. by 20%. With the resulting ratio of 5:1, a shareholder can own one more share for every 5 shares he owns.
How many additional shares can a shareholder have?
Solution:
A shareholder may additionally have:
Number of shares available * Percentage of increase in authorized capital / 100% = 60 * 20% / 100% = 12 shares.
PROBLEM 7.10.
A commercial bank purchased 200 million rubles. government short-term bonds (GKOs) maturing in six months. Upon expiration of the specified period, the bank expects to receive 402 million rubles from the bonds.
Determine the yield of GKOs.
Solution:
The yield of GKOs in percentage terms is determined as:
Income from the acquisition of GKOs * 100% / (Initial cost of purchased GKOs * Maturity period of GKOs in years) = (402 – 200) * 100% / (200 * 0.5) = 202%
The yield on GKOs in monetary terms will be:
Profitability of GKOs in % * Initial cost of purchased GKOs * Maturity period of GKOs in years / 100% = 202% * 200 * 0.5 / 100% = 202 million rubles.
TOPIC 8. PUBLIC FINANCE.
TASK 8.1.
An important element in the system public finance are extra-budgetary funds, the main purpose of which is to finance individual targeted activities.
Will list e main extra-budgetary funds and current standards(rates of contributions, deductions).
Determine what is subject to taxation.
Calculate planned amounts of contributions to main extra-budgetary funds, if planning fund wages for the enterprise - 140.0 million rubles.
Solution:
In the Russian Federation, since 1992, more than two dozen extra-budgetary social and economic funds began to operate, including:
social : Pension Fund of the Russian Federation, Fund social insurance, State Employment Fund of the Russian Federation, Federal and territorial funds compulsory health insurance, Mandatory Social Support Fund, etc.
economic : Federal and territorial road funds, Fund for the reproduction of the mineral resource base of the Russian Federation, Financial regulation funds, etc.
Here are the rates of contributions, deductions and tax base for individual funds:
Pension Fund Russian Federation : insurance premiums(tariffs) are set depending on the categories of payers:
a) for employer-organizations - in the amount of 28 percent; and for employer-organizations engaged in the production of agricultural products - in the amount of 20.6 percent of payments in cash and (or) in kind accrued in favor of employees on all grounds, regardless of sources of financing, including remuneration under civil contracts, the subject of which is the performance of work and provision of services, as well as under copyright agreements;
b) for individual entrepreneurs, including foreign citizens, stateless persons living on the territory of the Russian Federation, as well as for private detectives engaged in private practice of notaries, tribal, family communities of indigenous peoples small peoples North, engaged in traditional economic sectors, peasant (farm) households - in the amount of 20.6 percent of income from business or other activities minus expenses associated with its extraction; for individual entrepreneurs using a simplified taxation system - in the amount of 20.6 percent of income, determined based on the value of the patent. Individual entrepreneurs, including foreign citizens, stateless persons living on the territory of the Russian Federation, private detectives, notaries engaged in private practice, hiring for employment contract or paying remuneration under civil law contracts, the subject of which is the performance of work and provision of services, as well as under copyright contracts, pay insurance contributions to the Pension Fund of the Russian Federation in the amount of 28 percent of payments in cash and (or) in kind, accrued in benefits of employees on all grounds, regardless of sources of financing. Tribal, family communities of indigenous peoples of the North, engaged in traditional economic sectors, peasant (farm) households, hiring under an employment contract or paying remuneration under civil contracts, the subject of which is the performance of work and provision of services, as well as copyright contracts, pay insurance contributions to the Pension Fund of the Russian Federation in the amount of 20.6 percent of payments in cash and (or) in kind accrued in favor of employees on all grounds, regardless of sources of financing;
c) for lawyers - in the amount of 20.6 percent of payments accrued in favor of lawyers;
d) for citizens ( individuals) who are hiring under an employment contract or paying remuneration under civil contracts, the subject of which is the performance of work and provision of services, as well as under copyright contracts - in the amount of 28 percent of payments in cash and (or) in kind accrued in favor of employees on all grounds, regardless of sources of financing;
Social Insurance Fund of the Russian Federation : the standard for contributions of legal entities to the Social Insurance Fund is set at 5.4% for all types of wage accruals for all reasons. Those who work for this fund pay nothing.
State Employment Fund of the Russian Federation : for employers, insurance premiums are set at 1.5% in relation to accrued wages for all reasons; working citizens do not pay contributions to this fund.
Compulsory medical insurance funds of the Russian Federation : the insurance premium rate is 3.6% in relation to accrued wages for all reasons in monetary and in kind(0.2% goes to Federal Fund, and 3.4% - to territorial funds).
To economic off-budget funds include industry and inter-industry funds for research and development (R&D funds). The funds are generated through quarterly contributions from enterprises and organizations in the amount of 1.5% of the cost of products sold (work performed, services rendered).
Example:
Payroll for the enterprise - 140.0 million rubles:
Contribution to the Pension Fund of the Russian Federation: 140 * 28% = 39.2 million rubles;
Contribution to the Social Insurance Fund of the Russian Federation: 140 * 5.4% = 7.56 million rubles;
Contribution to the State Employment Fund of the Russian Federation: 140 * 1.5% = 2.1 million rubles;
Contribution to the Federal Compulsory Medical Insurance Fund: 140 * 3.4% =
4.76 million rubles
TASK 8.2.
The target fee tariff for the maintenance of law enforcement agencies, improvement, educational needs and other purposes is 3% of the wage fund, calculated on the basis of the established minimum wage (from January 2000 - 100 rubles per month) to the average number of employees. In the planned quarter, the average number of employees of the enterprise will be 125 people. Calculate the planned collection amount.
Solution:
125 people * 83490 rub. * 3 months * 3% = 939262.5 rub..
TOPIC 9. INFLATION.
TASK 9.1
A s2
Rice. 9.1,a. Demand driven inflation.
Demand-driven inflation (Fig. 9.1, a) occurs when
short-term time intervals, the economic system, following the shift of the aggregate demand curve to the right, moves along the curve aggregate supply to the right - up. The path she takes is indicated by the segment E0 E1. Subsequently, when the increase in prices for finished goods spreads fully and causes the expected increase in wages and prices for other factors of production.
1. Determine what will happen to the aggregate supply curve under these conditions.
Inflation associated with a recession (Fig. 9.1, b) occurs when the growth of aggregate demand slows down or stops. On the graph, the movement of the aggregate demand curve stops after the economic system reaches point E2. Firms expect that the price level for the factors of production they attract will continue to rise.
N
Real national product (billion rubles per year)
E4
1000
2000
3000
4000
Rice. 9.1, b. Recession-related inflation
Note: 1* - Inflation associated with a recession is the result of shift As, when movement Adhas already stopped;
2* - During the period of demand-driven inflation, Ad and A smove upward at the same speed;
3* - Natural level of real production volume, equal to 2000 billion rubles.
Suppose firms expect that the price level of the factors of production they attract will continue to rise.
2. Define , what will happen next year to the aggregate supply curve.
Solution:
1. Under these conditions, there will be an upward shift in the aggregate supply curve over short-term time intervals.
If the expansionary policy continues to shift the aggregate demand curve upward, as shown in Figure 9.1. and then for a certain long period it is possible to maintain the real volume of production above it natural level, the graphical interpretation of which is the supply curve N on long-term time intervals. However, maintaining real output at this high level is achieved only at the cost of continuous inflation.
2. Next year the aggregate supply curve will shift upward to As 3, and the following year it will shift to As 4. As these events unfold, the economic system enters a period of recession during which the price level continues to rise. In this case, it is likely that inflation rates will increase over time while real output declines.
TOPIC 10. FINANCIAL SUPPORT OF ENTERPRISE OPERATIONS.
TASK 10.1.
A vehicle with a carrying capacity of 3 tons, costing 30.0 million rubles. Average mileage per day is 120 km. The number of days the machine operates per year is 259. The depreciation rate is 0.37% of the cost of the machine per 1000 km. The car has been working since the first day of the first quarter. Determine the amount of depreciation charges.
Solution:
The depreciation rate for the year will be equal to:
120 km * 259 days. / 1000 km * 0.37 = 11.5%
The amount of depreciation charges for the year will be equal to:
RUB 30.0 million * 11.5% = 3.45 million rubles.
TASK 10.2.
Wear intangible assets accrued monthly at depreciation rates to their original cost. Depreciation rates for intangible assets are determined based on the period (number of years) of their useful life. The company bought a brokerage place for 300.0 million rubles. for a period of 5 years. Calculate the depreciation rate and annual depreciation amount for this type of intangible assets.
Solution:
Depreciation rate: N A = 
F B = 300 million rubles. – value of intangible assets; t = 5 years.
Depreciation rate per year: N A =
Amount of depreciation per year: 300 * 20% = 60 million rubles.
TASK 10
Table
a) the average annual cost of a newly introduced machine;
b) the average annual cost of retired equipment for this group of fixed assets, the average annual cost of class N machines. New equipment worth 10 million rubles. introduced in the 1st quarter. Old equipment worth 6 million rubles. also retires in the 1st quarter;
c) the amount of depreciation of intangible assets. The business entity acquired a brokerage position for 400 million rubles. for a period of 5 years;
d) the total annual amount of depreciation charges and the planned amount of depreciation charges for the quarter.
Solution:
Table.
Calculation of the total amount of depreciation charges
TASK 10.4.
Calculate the planned amount of contributions to the enterprise repair fund for the quarter. The standard for contributions to the repair fund has been established in the amount of 1.21% of the average annual value of fixed assets, which is equal to 584.0 million rubles.
Solution:
The planned amount of contributions to the enterprise repair fund for the quarter:
584.0 * 1.21 / 100 / 4 = 17.67 million rubles.
TASK 10.5.
Calculate the required increase in working capital for the quarter
amount of days
daily consumption of raw materials and supplies, million rubles . (2520 / 90)
stock norm, days
requirement for working capital for raw materials, million rubles . (28 * 28)
2. Determine the need for working capital for work in progress:
amount of days
one-day production output, million rubles. (7111 / 90)
rate of work in progress, days
requirement for working capital for work in progress, million rubles. (79 *3)
3. Determine the need for working capital for finished products:
production output at cost, million rubles.
amount of days
one-day production at cost, million rubles.
working capital norm for finished products, days
requirement for working capital for finished products, million rubles. (79 * 2)
4. Determine the need for working capital for inventory for the quarter:
turnover of goods at purchase prices, million rubles.
amount of days
one-day turnover of goods, million rubles . (1800 / 90)
norm of inventory, days
requirement for working capital for inventory, million rubles. (20 * 2)
5. Determine the need for cash in hand for the quarter and transfers on the way:
turnover, million rubles
amount of days
one-day turnover, million rubles. (2250 / 90)
norm of cash reserves, days
need for funds, million rubles. (25 * 1)
6. Determine the total need for working capital at the end of the quarter.
The amount of other working capital (packaging, low-value and wearable items, etc.) is for the planned quarter, million rubles.
784 + 237 + 158 + 40 + 25 + 421.7 = 1665.7 million rubles.
7. Determine the increase in the need for working capital for the quarter:
the amount of working capital at the beginning was,
1665.7 – 1425.0 = 240.7 million rubles.
TASK 10.6.
Table.
The data on the opening balance sheet of the enterprise is given, (thousand rubles)
Prepare financial statements.
Calculate profitability indicators.
Analyze the impact of accounting methods on the value of analytical coefficients.
Draw conclusions*
Compose: 1) Report on financial results and their use; 2) closing balance.
Determine analytical coefficients:
a) Profitability of activities = Result from sales / Revenue from sales * 100%;
b) Return on advanced capital = Net profit / Net balance * 100%;
c) Return on equity = Net profit / Equity * 100%;
Note:.
* Consider two options for calculating profit: 1) depreciation is calculated based on the original cost; Inventories are valued using the FIFO method; 2) depreciation is calculated according to replacement cost; Inventories are valued using the LIFO method.
Solution:
Option 1.
Inventory consumed = 1000 + 1100 + 1090 = 1010 units.
for the amount: 1000 * 75 = 75,000 thousand rubles.
10 * 80 = 800 thousand rubles.
75000 + 800 = 75800 thousand rubles.
The balance of inventories in the amount of: 1090 * 80 = 87200 thousand rubles.
Depreciation amount = 100,000 * 0.1 = 10,000 thousand rubles.
Statement of financial results and their use:
Costs – total = 105800 thousand rubles.
incl. other = 20,000 thousand rubles.
inventories = 75800 thousand rubles.
depreciation = 10,000 thousand rubles.
Profit = 125800 – 105800 = 20000 thousand rubles.
2) Closing balance:
Profitability of activities = 20000 / 125800 * 100% = 15.9%
Return on capital advanced = 20000 / 192200 * 100% = 10.4%
Return on equity = 20,000 / 127,000 * 100% = 15.7%
Option 2.
Remaining inventory = 1090 * 75 = 81,750 thousand rubles.
Material consumption = 75,000 + (1100 * 80) – 81,750 = 81,250 thousand rubles.
Depreciation amount = 120,000 * 0.1 = 12,000 thousand rubles.
1) Financial results report:
Sales revenue = 125,800 thousand rubles.
Costs = 20,000 + 81,250 + 12,000 = 113,250 thousand rubles..
Profit = 125800 –113250 = 12550 thousand rubles.
2) Closing balance:
3) Analytical coefficients:
Profitability of activities = 125550 / 125800 * 100% = 9.9%
Return on capital advanced = 12550 / 184750 * 100% = 6.8%
Return on equity = 12550 / 119750 * 100% = 10.5%
PROBLEM 10.7
Table.
Initial data
Solution:
Balance sheet profit increased due to increased profit from sales of products in to a greater extent and from other sales. The increase in the excess of non-operating expenses over income had virtually no effect on profit growth.The increase in profit from product sales is due to the fact that sales revenue grew at a faster rate than the cost of production increased.
Sales revenue per 1 ruble of costs increased by 12.7%
The growth in net profit is due only to an increase in balance sheet profit.
TASK 10.8.
Adjust the table data by a factor of 1.5 (increase).
Conduct a horizontal reporting analysis
Table.
Initial data
125.0
125.0
1000.5
20.0
2. Working capital
Inventories and costs
Settlements with debtors
TOTAL:
BALANCE:
3466.6
828.7
815.2
5110.5
5235.5
13764.6
713.0
3752.0
18229.6
19230.1
PASSIVE
1. Own capital
Own funds
Profit
TOTAL:
65.3
561.0
626.3
680.2
1769.9
2448.1
1042
2. Raised funds
Long-term loans and borrowings
Short-term loans and borrowings
Settlements with creditors
Other liabilities
TOTAL:
BALANCE:
4609.2
4609.2
5235.5
16782.0
16782.0
19230.1
Solution:
125.0
125.0
980.5
1000.5
1470.8
30.0
1500.8
1176.6
1200.6
2. Working capital
Inventories and costs
Settlements with debtors
Cash and other assets
TOTAL:
BALANCE:
3466.6
828.7
815.2
5110.5
5235.5
13764.6
713.0
3752.0
18229.6
19230.1
20646.9
1069.5
5628.0
27344.4
28645.2
595.6
129.1
690.4
535.1
550.9
PASSIVE
1. Own capital
Own funds
Profit
TOTAL:
65.3
561.0
626.3
680.2
1769.9
2448.1
1042
1020.3
2654.9
3675.2
1562.5
473.2
586.8
2. Raised funds
Long-term loans and borrowings
Short-term loans and borrowings
Settlements with creditors
Other liabilities
TOTAL:
BALANCE:
4609.2
4609.2
5235.5
16782.0
16782.0
19230.1
25170.0
25170.0
28845.2
546.1
546.1
550.9
Horizontal reporting analysis consists of constructing one or more analytical tables in which absolute indicators are supplemented by relative growth (decrease) rates. The value of the results of horizontal analysis is significantly reduced in conditions of inflation. This is exactly what the table data demonstrates. The company's financial position has improved markedly, but this is most likely the result of inflation.
TASK 10.9.
Table.
Initial data
inventories and costs3466.6
66.2
13764.6
71.6
10298.0
cash, etc. other assets
1643.9
31.4
4465.0
23.2
2821.1
Adjust the data by a factor of 1.5 (increase).
Swipe analysis of the dynamics of the property status of the enterprise.
Do conclusions.
Solution:
Table.
inventories and costs3466.6
66.2
20646.9
71.6
17180.3
cash, etc. other assets
1643.9
31.4
6697.5
23.2
5053.6
From the above data it is clear that over the past year the company’s property increased by 23609.7 thousand rubles. The majority of the increase (12%) comes from immobilized assets. A significant increase in volume indicators was most likely caused by inflationary processes. It should be noted as a negative point the exceptionally low share of immobilized assets.
The largest share of property consists of mobile assets, including inventories and expenses. Compared to the beginning of the year, the share of mobile assets increased due to a decrease in the share of cash and other assets, as well as an increase in immobilized assets.
TASK 10.10.
Table.
Inventory and cost analysis
1. Conduct an inventory and cost analysis. 2. Draw conclusions.
Solution:
Analyzing the table, it should be noted that as a result of the redistribution of the share of production inventories (IP) and work in progress (WP) decreased by 10.1%, and finished products (GP) and goods (G) increased by 10.1%. Thus, the share of MH and NP was 71.1%, and became 61%, and the share of GP and T was 29%, and became 39% of the total inventory and costs.
By the end of the year there was a sharp increase in inventories and costs. Thus, inventories increased by 12849, which is 384.7% of the reserves at the beginning of the year, NP increased by 11112 (525.7%), GP - by 14122.5 (754.3%), goods - by 1014 (741.1%). Although in absolute terms the growth of PP and NP amounted to 23961, and GP and T - only 15136.5, the growth rate of the latter is much higher. This is evidenced by the redistribution of the share and the percentage change in the amount of inventories and costs at the beginning of the year.
In order to determine the mobility of inventories, we calculate the accumulation coefficient, which is determined by:
K n = (PZ + NP) / (GP + T)
Kn. beginning years = (2650.5 + 1776) / (1653 + 13.5) = 2.66
Kn. con. years = (15499.5 + 12888) / (15775.5 + 1027.5) = 1.69
Optimally, the level of mobility should be< 1.
In this case, there are excess reserves. The reasons for their formation may be the following:
PZ. Excess and unused material assets, uneven supply of material resources.
NP. Cancellation of production orders, increase in production costs, deficiencies in planning and organization of production, short deliveries of purchased semi-finished products and components, etc.
GP. A drop in demand for certain types of products, low product quality, irregular production of finished products and delayed shipments, transport difficulties, etc.
PROBLEM 10.11.
Table
Initial data
1. Swipe analysis of own working capital. 2. Draw conclusions.
Solution:
The organization's own working capital ratio is determined by:
To provide = SOS / OA
TO provide beginning period = 426000 / 796890 = 0.53
TO provide end of the period = 559680 / 1276545 = 0.44
The coefficient value is greater than 0.1, therefore the organization is solvent.
The ratio of inventory coverage with own working capital is determined by:
To provide = SOS / Z
TO provide beginning period = 426000 / 226875 = 1.88
TO provide end of the period = 559680 / 420750 = 1.33
According to the table, current assets increased by 1.6 times and increased own working capital (WCC) in the amount of 479,655, current liabilities increased by 1.93 times and decreased WCC by 345,975.
Coverage coefficient is within normal limits (1.5 – 2.0)
To pnach. = TA / TO = 796890 / 370890 = 2.15
To pkon. = 127645 / 716865 = 1.78
Despite the fact that the enterprise's provision with its own working capital fell from 0.53 to 0.44, nevertheless, the enterprise is well provided with its own working capital. The company is also provided with material reserves and its own working capital.
Thus, despite the fact that the provision of own working capital has fallen somewhat, the enterprise remains solvent and financially stable.
PROBLEM 10.12.
Table.
Turnover analysis material assets
weighted average value of the storage period of material assets. 2. Compare with the average value of this indicator. 3. Draw conclusions.Solution:
The weighted average value of the storage period of material assets is
Psv = (459341 * 54.4 + 212400 * 29 + 93551 * 51.5 + 23004 * 119.7) / 788296 = 49.12
The fuel turnover period is less than this value.
One-day consumption of materials is determined
Mzodn. = MZ / T
The standard stock is determined
Znorm = daily consumption * Psv
The inventory turnover ratio is determined by:
To ob.zap. = cost / average inventory balance
The data is shown in the following table.
TOPIC 11. METHODS OF MANAGING THE FINANCE FLOW OF AN ENTERPRISE.
TASK 11.1.
The starting cost of the leased object is 3 million 600 thousand rubles. The full depreciation period is 12 months, evenly distributed over the months. The Central Bank discount rate is 200% per annum. Taking into account discount rate, lessor's commissions and other expenses, monthly deductions to cover the costs of providing credit and other services amount to 20% per month of the funds actually used. Make a schedule of lease payments (in the form of a table). Determine the total amount of the lessee's expenses. Identify the advantage of obtaining equipment through leasing compared to purchasing it through a loan at interest at the level of the Central Bank discount rate.
Table.
Lease payment schedule
TASK 11.2.
In the proposed situation, a currency-denominated leasing option was used; The US dollar is accepted as the settlement currency, and the payment currency is the ruble. The exchange rate of the ruble to the US dollar is 1000 rubles. Credit rate– 22% per annum or 1.83% per month. Commission – 8% per annum or 0.67% per month. The cost of the leased item is 900 US dollars. Draw up a schedule of lease payments (in the form of a table). Determine the total amount of expenses of the lessee. Reveal the advantage of obtaining equipment through leasing compared to purchasing it through a loan at interest at the Central Bank discount rate of 200% per annum.
Table.
Lease payment schedule
TASK 11.3.
The cost of leasing fixed assets is 100 million rubles. Leasing payments are made in equal amounts twice a year. Determine the amount of payments to the leasing company for the entire term of the leasing agreement.
Solution:
Let’s assume that the leasing term is 8 years, the interest rate (including commissions) is 10%
Number of payment payments t = 8 * 2 = 16
The payment amount using the compound interest formula is:
P = 
,
Where
P – amount of leasing payments
C – cost of leasing PF
R - % rate
t - number of payment payments
100 * 0,10
P = 1 – 1 (1 + 0.1 16) = 12.78 million rubles.
In just 8 years, the lessee will pay the leasing company 204.5 million rubles. (16 * 12.78).
TOPIC 12. SOURCES OF ARISING AND COVERING RECEIVABLES AND ACCOUNTS PAYABLE.
TASK 12.1.
The wage fund is 2200.0 million rubles, wages are paid to employees on the 4th of each month; wage accrual is provided at the following contribution rates as a percentage of the wage fund: social insurance fund - 5.4%, Pension Fund– 28%, employment fund – 2.0%, compulsory health insurance – 3.6%, transport tax– 1.0%. Accounts payable, constantly at the disposal of the business entity, at the beginning of the planning quarter amounted to 81.97 million rubles. Calculate the required increase for the quarter in accounts payable that are constantly at the disposal of the business entity.
Solution:
The amount of minimum wage debt to employees is determined by the formula
Z min = F * D / 90, where
Z min - minimum salary debt, rub.
F – planned payroll for the quarter
D – number of days from the beginning of the month until the day the salary is paid
3 min = 2200 * 3 / 90 = 73.33 million rubles.
Payroll charges are only 40% of the payroll
Thus, the amount of contributions will be 40 * 73.33 / 100 = 29.33 million rubles.
The total amount of accounts payable at the disposal of the business entity at the end of the quarter will be 102.66 million rubles. (73.33 + 29.33)
The financial plan does not include the total amount of debt, but its change.
Thus, the required increase in accounts payable for the quarter will be 102.66 – 81.97 = 20.69 million rubles.
TASK 12.2.
Table
Initial data
1. Determine the increase or decrease in accounts receivable using the following data, indicate the main signs by which you can.
2. Analyze the status of company A's accounts receivable over time.
Solution:
An increase or decrease in accounts receivable can be determined both by its balance at the end of a particular reporting period and by changes in the total amount of assets. Also, the more the sale of products is paid for, the less the increase in accounts receivable is.
PROBLEM 12.3Table A.
ReservesAccounts receivable
Cash
Table B.
2. Draw conclusions.
Solution:
Table A.
Analytical grouping and analysis of balance sheet asset items
ReservesAccounts receivable
Cash
Table B
Analytical grouping and analysis of balance sheet liability items
TASK 12.4.Table.
Analysis of the enterprise's receivables turnover
2. Draw conclusions about changes in the liquidity and financial position of the enterprise.
Solution:
A decrease in accounts receivable turnover indicates an increase in the volume of credit provided. An increase in the repayment period for receivables indicates an increase in the risk of non-repayment. The lower the share of receivables in the total volume of current assets, the more mobile the property structure. An increase in the share of doubtful accounts receivable (DR) in the total amount of debt reduces the liquidity of the enterprise.
Thus, the state of settlements with customers has worsened compared to last year.
Although the share of all accounts receivable in the total volume of current assets decreased, the share of doubtful accounts increased by 2.4 times. This reduced the liquidity of the enterprise and, accordingly, worsened its financial position.
TOPIC 13. FINANCIAL PROBLEMS OF ENTERPRISE INSOLVENCY.
TASK 13.1.
Table.
Initial data
2. Calculate current liquidity ratios for enterprises.
3. Calculate the ratios of enterprises' own funds.
4. Calculate the coefficients of restoration (loss) of solvency of enterprises.
Solution:
The current liquidity ratio characterizes the degree of total coverage of the amount of urgent obligations by all working capital of the organization and determines the overall provision of the organization with working capital for maintaining economic activity and timely repayment of urgent obligations.
Ktl = (A2 + A3) / (P2 - DKZ)
Enterprise 1
Ktl. beginning years = (0.35 + 0.46) / (0.59 – 0.02) = 0.81 / 0.57 = 1.42
To tl. con. years = (0.46 + 0.6) / (0.77 – 0.012) = 1.06 / 0.758 = 1.398
Enterprise 2
Ktl. beginning years = (10.45 + 8.08) / (17.78) = 1.042
To tl. con. year = (17.05 + 5.11)/ (21.04) = 1.053
The standard value is 2.0
The equity ratio is the ratio of the difference between the objects of sources of equity and actual non-current assets to the actual cost of available working capital. Cob.s.s. characterizes the organization’s availability of its own funds necessary for its financial stability.
Cob.s.s. = (I p + DBP + RPR + AF - I a) / (II a +III a)
Enterprise 1
To ob.s.s. beginning of the year = (3.35 + 0.13 – 3.13) / (0.35 + 0.46) = 0.35 / 0.81 = 0.432
To ob.s.s. end of year = (3.47 + 0.12 – 3.18) / (0.46 + 0.6) = 0.41 / 1.06 = 0.387
Enterprise 2
To ob.s.s. beginning of the year = (2.38 + 2.5 – 1.69) / (10.45 + 8.08) = 3.19 / 18.53 = 0.172
To ob.s.s. end of year = (2.82 + 2.66 – 1.7) / (17.05 + 5.11) = 3.78 / 22.16 = 0.17
The coefficient must be at least 0.1
Those. it should be concluded that both enterprises are well provided with their own funds, but poorly provided current assets.
When the coverage ratio is less normative value 2.0, the structure of the enterprise's balance sheets should be called unsatisfactory, and the enterprises themselves insolvent.
Let's calculate the solvency ratio of enterprises.
Quosst. = (Ktl.k. + 6 / T (Ktl.k. – Ktl.n.)) / 2
6 – period of restoration of solvency, in months
T – reporting period, in months
2 – standard value ktl.
Enterprise1
Quosst. = (1.42 + 6 / 12 (1.42 – 1.398)) / 2 = 0.72
Enterprise2
Quosst. = (1.053 + 6 / 12 (1.053 – 1.042)) / 2 = 0.53
Thus, the recovery rates< 1, значит у предприятий 1 и 2 в ближайшие 6 месяцев нет реальной возможности восстановить платежеспособность.
TOPIC 14. CHARACTERISTICS OF FINANCIAL RESULTS OF THE ENTERPRISE'S ECONOMIC ACTIVITIES.
TASK 14.1.
Planning is carried out using the calculation and analytical method. In this case, semi-fixed costs are planned by amount, and variable costs by their level as a percentage of revenue. In the base quarter, the amount of semi-fixed costs without depreciation and contributions to the repair fund is equal to 1082.8 million rubles, the level of variable costs without the wage fund and charges on it is 27.21%.
Table.
Initial data
Cost, million rubles.
Determine the planned cost amount for the quarter.
Solution:
Amount of accruals on wages, million rubles.
Depreciation charges, million rubles.
Contributions to the repair fund, million rubles.
Conditionally fixed costs (without depreciation and deductions to the repair fund), million rubles.
Level of variable costs (without wage fund and charges on it), % of revenue
Amount of variable costs, million rubles.
Cost, million rubles.
(2789.0 + 1082.8 + 29.2 + 130.0 + 880.0 +2200.0) = 7111,0
TASK 14.2.
Data for calculation: the company leases premises, rent is 50.0 million rubles. for the quarter. It is also planned to sell unnecessary materials; the proceeds from their sale minus sales expenses should amount to 106.8 million rubles. The VAT rate is 16.67% on the amount of revenue.
Table.
Initial data
Solution:
TASK 14.3.
Paid from profits the following taxes: profit tax (35% of taxable profit), income tax (15% of the amount of income), target fee for the maintenance of law enforcement agencies (1% of the minimum wage fund wages), tax on the maintenance of housing stock and social and cultural facilities (1.5% of revenue), property tax (2.0% per year of the average annual value of property). Profit for the planned quarter - 1380.0 million rubles, including rent - 50.0 million rubles, minimum wage fund - 1820.0 million rubles, average annual taxable property value - 7000.0 million rubles, the amount of revenue from sales minus value added tax is 8333.2 million rubles. Calculate the planned amount of taxes paid from profits for the planned quarter.
Solution:
Income tax = Profit for the planned quarter * 0.35 = 483 million rubles.
Income tax = Sales proceeds minus VAT = 8333.2 * 0.15 = 1249.98 million rubles.
Target fee for the maintenance of law enforcement agencies = payroll * 0.01 = 18.2 million rubles.
Property tax = Average annual value of property * 0.02 = 140 million rubles.
Total planned amount of taxes = 2016.18 million rubles.
TASK 14.4.
The critical volume of sales at the enterprise (corresponds to the value of the cost of products sold) amounted to reporting period 943431 thousand rubles. The actual sales volume is 1245326 thousand rubles. average value total liabilities – 1272835 thousand rubles. The average value of equity capital (real), according to the balance sheet of the enterprise, amounted to 910,250 thousand rubles. Determine: 1) the theoretical value of equity capital, which would correspond to the structure of income and costs prevailing at the enterprise; 2) the real value of equity capital compared to its calculated “safe” value.
Solution:
Profit = 1245326 – 943431 = 301895 thousand rubles.
The theoretical value of equity capital may be equal to the value of total liabilities of 1,272,835 thousand rubles, if we take into account that the enterprise does not have accounts payable.
The real amount of equity capital is the authorized capital and actual profit: 910250 + 301895 = 1212145 thousand rubles.
TASK 14.5.
Table.
Dynamics of asset turnover indicators compared to the previous year
Solution:1. The duration of turnover of current assets has increased, turnover has decreased.
2. The amount of additional funds attracted into circulation = 566572 / 163.8 * 12.7 = 43928 thousand rubles.
3. The enterprise needs to take measures to accelerate asset turnover.
Accelerating turnover is of great importance, since with a constant cost of production volume, it is possible to free up part of the working capital.
TASK 14.6.
Table.
Change in the duration of the company's cash turnover by month
Analyze the period of cash turnover throughout the year.
Draw conclusions about the sufficiency of funds at the enterprise.
Solution:
1. The most favorable months in the operation of the enterprise in terms of turnover period in days are June - 1.94 days, July - 1.97 days, August - 1.92 days, September - 1.76 days; the least favorable is January.
2. Cash is classified as non-standardized working capital. The most important indicator of the efficiency of using working capital is the speed of their circulation. The longer the turnover, the greater the need for working capital. Reducing turnaround time frees up working capital. Accelerating turnover allows you to increase the number of revolutions and thereby sell more products with the same amount of working capital, or get by with a smaller amount of working capital. The company has more than enough cash, since its reserves are quite large.
PROBLEM 14.7 . Table.
Initial data, million rubles.
/p.3 *100!!
(p.8+p.9a!*(1-Сн)+(p.9-p.9a)*
(1+Сн)/str.1 *100
(p.8:p.6*100), %
Adjust the data by a factor of 1.5 (increase).
1. Conduct an analysis of profitability of sales depending on the financial structure of the enterprise. 2. Draw conclusions.
Solution:
Return on investment (line 7 (line 1-line 4*100), %
Return on equity (line 8: line 2*100), %
Return on debt capital, %
page 9a*(1.Сн)+(page 9-page 9а)*(1+Сн)/
/page 3 *100
Return on total investment, %
(p.8+p.9a*(1-Сн)+(p.9-p.9a)*
(1+Сн)/str.1 *100
Return on sales (products)
(p.8:p.6*100), %
The enterprise is not attractive for investment, since the return on assets, investments and sales has decreased.
There is an increase in the return on debt capital due to an increase in its share.
TASK 14.8.
Table.
Initial data, (thousand rubles)
1. Analyze the balance sheet profit compared to the previous period.
2. Draw conclusions.
Solution:
Balance sheet profit increased due to growth in profits from the main sale of income from securities and equity participation in other enterprises.
A large increase in profit was hampered by an increase in losses from other sales and non-operating transactions.
An increase in the share of net profit indicates an increase in tax benefits.
PROBLEM 14.9
Table.
Compacted balance sheet, net, (thousand rubles)
Cash (page 280+...+page 310)Settlements with debtors (page 199+...+page 260)
Inventories and costs (page 180)
Other assets (p. 270+pp. 320)
Total for section 1
2. Fixed assets and other non-current assets
Fixed assets and capital investments(page 022+page 030+page 040)
Long-term financial investments(p.050)
Other non-current assets (line 012+line 060+line 070)
Total for section 2
BALANCE
PASSIVE
1. Raised capital
Current (short-term) liabilities (line 770-line 500-line 510)
Long-term liabilities (line 500+line 510)
Total for section 1
2. Equity
Own funds (line 400+...+line 420-line 340-line 350)
Retained earnings (line 460+line 472)
Other sources of own funds (line 430+line 440)
Total for section 2
BALANCE
1 Determine: a) coverage coefficient*: K p =TA/TO; b) quick liquidity ratio*: K bl = (DS+DB+PA)/TO; c) absolute liquidity ratio*: K al =DS/TO. d) own working capital, thousand rubles. (SOS=SC+DO-SV); e) SOS share in assets, %; f) the share of SOS in inventory and costs, %.
Note: standard values: K p = 1.5 2.0; Kbl = 0.5 1.0; K al = 0.05 0.2.
2. Draw conclusions about the current payment readiness of the enterprise.
Solution:
A . Let's determine liquidity ratios
Coverage ratio
Kpnach. year = 5110.5 / 4609.2 = 1.109
Kp con. of the year = 18229.6 / 16782 = 1.086
Quick ratio
Kbl beginning years = (815.2 + 827.7) / 4609.2 = 0.356
Kbl con. years = (3714.2 + 713 + 37.8) / 16782 = 0.266
Absolute liquidity ratio
Cab start years = 815.2 / 4609.2 = 0.177
Kaab con. years = 3714.2 / 16782 = 0.22
B. Own working capital
SOSnach. years = 626.3 – 125 = 501.3
SOScon. years = 2448.1 – 1000.5 = 1447.6
The share of SOS in assets at the beginning of the year is 501.3 * 100 / 5110.5 = 9.81%
The share of SOS in assets at the end of the year is 1447.6 * 100 / 18229.6 = 7.94%
The share of SOS in inventories and costs at the beginning of the year is 501.3 * 100 / 3466.6 = 14.46%
The share of SOS in inventories and costs at the end of the year is 1447.6 * 100 / 13764.6 = 10.52%
The coverage ratio and quick liquidity ratios are below the standard value. This coefficient characterizes the payment capabilities of the organization. At the end of the year, these ratios fell further. This suggests that current assets will not be enough to pay off short-term debts.
The value of the absolute liquidity ratio is within the normal range. It shows what part current debt may be repaid in the near future. However, with a coefficient of less than 0.2, there are not enough liquid assets to pay off short-term debts; it will be necessary to use inventories. This applies to the coefficient at the beginning of the year. By the end of the year, the possibility of repaying debts with liquid assets increased.
An increase in SOS indicates the development of the organization’s activities.
The share of SOS in assets and inventories characterizes the degree of security of assets and inventories from their own sources. This coefficient security must be greater than 0.1. In our case it is 0.0981 and 0.784. Thus, borrowing will be required to cover assets and inventories. As a result, it should be noted that solvency increased by the end of the year. This indicates that if the cash balance is maintained at the reporting date level, the available short-term debt can be repaid in 2 – 5 days.
PROBLEM 14.10.
The following data is available for the company. Balance sheet profit: P b = 10407.2 thousand rubles; net profit: P y = P b – Payments to the budget from profits = 6327 thousand rubles; turnover for the year: P = 177457 thousand rubles. Gross income level:
U vd = (Gross income from sales - VAT - Excise taxes) / Turnover =
= (32605.6 – 3263.5):177457 = 16.5%.
Level of distribution costs: 18943:177457 = 10.7%
Determine: a) Level of profitability (to turnover): U p = P b: P; b) Return on advanced capital: R r ak = P h: B n; c) return on equity: R sk = P h: SK
Solution:
Sales revenue will be 32605.6 – 3263.5 = 29342.1 thousand rubles.
a) Level of profitability (to turnover): Ur = Pb / P * 100% = 10407.2 / 177457 * 100% = 5.87%
b) The profitability of advanced capital is determined by P r ak = Pch / Bn
Bn (balance sheet currency) is found through the return on sales. (R pr)
R pr is determined by the ratio of net profit and revenue from product sales. Rpr = Pch / RP
Also, Rpr is defined as the ratio of revenue from product sales to the value of assets (A = Bn) Rpr = RP / A
Thus, A = RP 2 / Pch = 29342.1 2 / 6327 = 136076.95 thousand rubles.
So Bn = 136076.95
Hence Cancer = 6327 * 100 / 136076.95 = 4.65%
PROBLEM 14.11.
An enterprise to obtain a net profit in the amount of 202,041 thousand rubles. with sales revenue of 1,245,326 thousand rubles. used current assets in the amount of 566,572 thousand rubles in the reporting year.
1. Determine the profitability of current assets for the reporting year and the previous year.
2. Draw conclusions.
Solution:
Return on current assets is determined by:
Rta = Pch / TA
Pch – net profit
TA – current assets
Rta = 202041 / 566572 = 0.36
TOPIC 15. MORTGAGE LENDING.
PROBLEM 15.1
An individual was granted a mortgage loan in the amount of 150 thousand rubles. for purchasing real estate. The loan term is 10 years. Every year the borrower repays 1/10 of the loan. The loan interest for using the loan is 15% per annum. Interest is charged on the outstanding loan amount.
Determine the amount of mortgage interest accrued over 10 years.
Solution:
The annual payment to repay the principal balance of a loan.
Nizhny Novgorod Institute of Management and Business
Department of Finance
Programmed task for the discipline:
"Money. Credit. Banks"
Completed by: 4th year student
29 FEF streams
Mikheeva N.S.
Specialty - Accounting, analysis and audit
Checked by: senior teacher
Leveeva T.N.
Nizhny Novgorod, 2011 Automobile plant
Exercise 1.
Choose the correct answers and justify them.
increase the required reserve ratio;
reduce the discount rate;
increase the yield of government securities;
increase the discount rate.
By pursuing a policy of “dear money”, the Central Bank of the Russian Federation can:
lower the required reserve ratio;
increase the discount rate.
Task 2.
The monthly inflation rate is 1.2%. Determine the inflation index for the year and the annual inflation rate.
Solution:
In=(1+rn) = (1+0,012) = 1.012 = 1.15 - inflation index for the year.
r = (In-1)*100% = ( 1.15-1)*100%= 15% - inflation rate for the year.
^ Answer: 1.15 - inflation index for the year.
15% is the inflation rate for the year.
Task 3.
Amount 1500 rub. placed on deposit with the bank for 180 days from monthly capitalization percent. The rate on deposits for a period of less than one year is 12% per annum. The monthly inflation rate is 2%. Define:
The deposit amount with interest;
Inflation index for the calculation period;
The deposit amount with interest taking into account inflation;
The investor's real income taking into account inflation.
Solution:
Let's find the deposit amount with interest
S= 1500(1+0.5*0.12) = 1500*1.06 = 1590 rub.
Let's determine the inflation index for the period
Let's find the deposit amount with interest taking into account inflation.
S = 1590 *1.126 = 1790.34 rub.
Let's determine real income taking into account inflation
Answer: 1590 rubles - the amount of the deposit with interest;
1790.34 rubles - the amount of the deposit with interest, taking into account inflation;
RUB 1,412.08 is the investor’s real income taking into account inflation.
Task 4.
Loan 1 million rubles. Issued 05/17/2002 to 07/22/2002. Planned average annual level inflation is 25% per annum, the estimated profitability is at least 4% per annum. The estimated number of days in a year is 365. Determine the interest rate on the loan, taking into account inflation, and the repayable amount.
Solution:
Let's determine the period for using the loan: 05/17/2002 to 07/22/2002 = 65 days
Let's determine the interest rate on the loan taking into account inflation: i = 25%+4%= 29%
Let's find the repayable amount: S = P(1+ i/100 *j/m)
S = 1,000,000*(1+ 29/100*65/365)= 1,000,000*1.0516= 1,051,600 rub.
Answer:1,051,600 rub. - amount to be repaid.
Task 5.
The bank accepts deposits for 180 days at a rate of 10% per annum with monthly interest capitalization. Determine the interest paid by the bank on a deposit of 25,000 rubles.
Solution:
Let's determine the repayable amount: S = P(1+ i/100 j/m)= 25,000(1+10/100*180/365)=
25,000(1+0.1*0.5)= 26,250 rub.
Let's determine the amount of interest paid by the bank:
D= S-P = 26,250 - 25,000= 1,250rub.
Answer:
1 250
rub. - interest paid by the bank on a deposit of 25,000 rubles.
Task 6.
The bank issued a loan in the amount of 500 thousand rubles. 10/25/2002 at 27% per annum. The loan repayment period is December 1, 2002. Determine the amount to be repaid and the amount of interest.
Solution:
Let's determine the repayable amount:FV= H (1+ d/100*G/360);Whered= 27% per annum
G-days of using the loan.
FV = 500,000 (1+ 27/100*37/360) = 500,000*1.02775 = 513,875 rub.
Let's determine the amount of interest:
Is= FV-PV = 513,875 – 500,000 = 13,875rub.
Answer: RUB 513,875 - repayable amount;
RUB 13,875 - amount of interest.
Task 7.
Bill of exchange in the amount of 10 thousand rubles. was taken into account commercial bank 45 days before its maturity date at a rate of 18% per annum. This bill was re-read by the Central Bank of the Russian Federation 30 days before maturity at a rate of 12% per annum. Define:
CB income and the amount paid to the bill holder;
income of the Central Bank of the Russian Federation.
Let us determine the amount paid to the bill holder:
P =H (1 -d/100*G/360)= 10,000(1-0.18*45/360) = 10,000* 0.9775= 9,775 rub.
Let's determine income commercial bank: N - P = 10,000 - 9,775 = 225 rubles.
Let us determine the amount of income of the Central Bank of the Russian Federation:
P = H (1 - d/100*G/360) = 10,000 (1- 0.12* 30/360) = 10,000*0.99 = 9,900 rub.
N - P = 10,000 - 9,900 = 100 rubles.
Answer:9,775 rubles - the amount paid to the bill holder;
225 rub. - income of a commercial bank;
100 rub. - the amount of income of the Central Bank of the Russian Federation.
Task 9.
The exchange office gives the following quotes for US dollars:^ USD/RUS 31.00/32.55.One client sold $1,000 and another bought $1,000. How much profit did the bank make on these two transactions?
Solution:
Because exchange office buys dollars at 31.00 rubles and sells them at 32.55 rubles. then the exchange rate difference is 32.55 - 31.00 = 1.55 rubles.
The bank's profit will be 1.55*1000 = 1,550 rubles.
Answer:RUB 1,550 - bank profit.
Task 10.
The bank has closed currency positions. What will be the value of the long or short currency position after the bank sells 1 million US dollars for rubles at the rate of 32.71?
Answer:the value of the long currency position after the sale by the bank will be equal to 32.71 * 1 million dollars = 32,710,000 rubles.
Rental block
Tasks in the discipline “Money. Credit. Banks"
1. Topic “Money: money supply, money turnover rate, bank multiplier, exchange rates, required reserve norms”
Formulas for solving problems:
1) formulas for calculating the volume of money supply, the speed of money turnover in the economy
where M is the volume of money supply
V – speed of money turnover
P – average price level
Q – production volume
Кm=MP*Q GDP volume*100%,(2)
where Km is the economic monetization coefficient
M – volume of money supply
Q – production volume
P – average price level
2) calculation of monetary aggregates
M0 – amount of cash in circulation
M1 = M0 + funds in current bank accounts + demand deposits
M2 = M1 + urgent and savings deposits in banks (money supply in national definition)
М2Х = М1 + amounts in accounts in foreign currency (volume of money supply according to the monetary survey methodology)
M3 = M2 + savings deposits in specialized financial and credit institutions
M4 = M3 + securities, incl. stocks, bonds, bank certificates of deposit, bills
M5 = M4 + funds in foreign currency in circulation of legal entities and individuals.
Units M3, M4, M5 are “broad” money.
The level of monetization of the economy is an indicator characterizing the share of means of payment in GDP = M2/GDP or M2X/GDP,
3) calculation of the bank multiplier
Bm=1r,(3)
Bm – bank multiplier
4) calculation of reservation standards
R – amount of required reserves
r – norm of required reserves
M=D* Kd,(5)
M – volume of money supply in circulation (sum of cash and deposits, aggregate M0)
D – maximum amount of deposits in the economy
Kd – deposit ratio (ratio of cash to deposits)
5) calculation of exchange rates
Monetary base = M0 + funds in required reserves (in the Central Bank of the Russian Federation) + funds of commercial banks in correspondent accounts of the Central Bank of the Russian Federation.
Money supply (M2) = Monetary base * Money multiplier
Money multiplier = M2 (money supply) / Monetary base.
1) Production volume increased over the year by 7%, the average price level - by 8%, the money supply increased from 5 to 7 trillion. rub. Determine the speed of money turnover in a given year, if it is known that last year it was 4 turnovers.
Solution: 1). 5 * 4 = 20 trillion. rub. 2). 20 * 1.07 * 1.08 / 7 = 3.3 revolutions
2) The average price level increased by 9% per gram, production volume by 5%, and the rate of money turnover decreased from 4 to 3.5%. Determine the volume of money supply at the end of the year, if at the beginning it was 5 trillion. rubles
Solution:
Jm = Jp*Jq/Jv = 1.09*1.06/(3.5/4) = 1.32
V den of mass = 5 * 1.32 = 6.6 trillion. Rub.
3) Monetary base – 3,484 billion rubles, cash outside banks (M0 aggregate) – 2,352 billion rubles, demand and time deposits – 5,357 billion rubles, deposits in foreign currency – 1,130 billion rubles .
a) the volume of money supply in the national definition (M2 aggregate);
b) the volume of money supply according to the monetary survey methodology (M2X aggregate);
c) the value of the money multiplier.
Solution:
a) M2 = M0+M1=2352 + 5357 = 7709 billion rubles.
b) M2X = M2 + deposits in foreign currency. currency = 7709+ 1130 = 8839 billion rubles.
c) Money multiplier Dm = 7709 / 3484 = 2.213.
4) The GDP volume is 30 trillion. rub., and the money supply – 7 trillion. rub. Define:
a) the coefficient of monetization of the economy,
b) the speed of money turnover.
Solution:
a) Km = 7/30 = 0.233 or 23.3%.
b) V = 30 / 7 = 4.29 revolutions per year.
5) The banking multiplier is 20, the maximum possible amount of money that the banking system can create is 80 billion rubles. Define:
a) the norm of required reserves,
b) the amount of the initial deposit.
Solution:
a) But = 1/20 = 0.05 or 5%.
b) 80/20 = 4 million rubles.
6) The required reserve ratio is 4%. Deposit ratio (cash/deposit ratio) – 56% of deposit volume. The amount of required reserves is 80 billion rubles. Determine the volume of money supply in circulation (the sum of deposits and cash).
Solution:
1). Amount of deposits D = 80 / 0.04 = 2000 billion rubles.
2). Amount of cash H = 2000 * 0.56 = 1120 billion rubles.
3). The volume of money supply in circulation M = D + N = 2000 + 1120 = 3120 billion rubles.
7) GDP is 13243 billion rubles, and the money supply is 2674 billion rubles. Calculate money supply turnover indicators:
Solution:
a) V = 13243 / 2674 = 4,952 revolutions.
b) T = 360 / 4, 952 = 72.7 days.
8) The nominal exchange rate of the ruble to the US dollar is 25 rubles, the inflation rate in the USA is 3%, in Russia – 10%. Required:
a) determine the real exchange rate of the ruble to the dollar,
b) compare the real exchange rate with the nominal one,
c) explain what causes the difference between the levels of nominal and real exchange rates.
Solution:
a) RK = 25 * 1.03/ 1.10 = 23.41 rub.
b) and c) The real exchange rate is higher than the nominal exchange rate,
since the inflation rate in Russia is higher than in the USA.
9) How did the real exchange rate of the euro against the ruble change if the nominal rate increased from 34.16 to 34.73 rubles. per euro, and prices increased in the euro area countries by 1.9%, in Russia – by 9%?
Solution:
1) The nominal exchange rate of the euro to the ruble increased by 1.35% - (34.73 – 34.16)*100/34.73 = 1.35%
2) The real exchange rate of the euro to the ruble increased by 0.052 or 5.2%
a) 1.0135 * 1.019/1.09 = 0.948. b) 1.0 – 0.948 = 0.052.
10) How did the nominal and real exchange rates of the ruble to the euro change if the nominal exchange rate of the euro to the ruble increased from 34.85 to 35.00 rubles. per euro, and prices increased in the euro area countries by 2%, in the Russian Federation - by 10%?
Solution:
1) Reduction of Tax Code = 1/34.85-1/35 = 0.0287-0.0286 = 0.0001 euros per 1 rub.
2) Decrease in RK=0.0287*1.10/1.02-0.0286*1.10/1.02=0.0309-0.0307=0.0002
12) The required reserve ratio is 5%. Deposit ratio (cash/deposit ratio) – 60% of the volume of deposits. The amount of required reserves is 90 billion rubles. Determine the volume of money supply in circulation (the sum of deposits and cash).
Solution:
r=5%, R=90 billion rubles, Kd=60%
R=D*r, D=R/r=90/0.05=1800
M0=D*Kd=1800*0.6=1080
M2=M0+D=1080+1800=2880 billion rubles.
Answer: the volume of money supply in circulation is 2880 billion rubles.
13) GDP is 15,000 billion rubles, and the money supply is 3,000 billion rubles. Calculate money supply turnover indicators:
a) turnover rate (number of revolutions) of the money supply;
b) duration of one revolution (in days).
Solution:
a) V=GDP/M=15000/3000=5 times a year
b) t=D (number of days in a year)/V=360/5=72 days
Answer: V=5 times a year, t=72 days.
14) The bank issued a loan in the amount of 600,000 rubles. for three quarters at a simple interest rate, which in the first quarter was 12% per annum, and in each subsequent quarter increased by 1 percentage point. Define:
a) the increased amount of debt,
b) the amount of interest for using the loan.
Solution:
a) S = 600,000*(1 + 0.12/ 4 + 0.13/ 4 +0.14/4) = 658,500 rub.
b) Amount of interest = 658,500–600,000 = 58,500 rubles.
16) The bank issued a loan to the first borrower in the amount of 150,000 rubles. for a period of 2 months at a rate of 15% per annum and for the second borrower - in the amount of 250,000 rubles. for a period of 3 months at a rate of 20% per annum. Determine the amount of interest received by the bank on loans provided.
Solution:
150000*0.15*2/12 + 250000*0.2*3/12 = 16250 rub.
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