Theme: Assessment of the rating of the financial condition of enterprises in the digital economy Contents: Introduction The first chapter. Theoretical basis for evaluating the rating of the financial condition of enterprises in the digital

1.2. General assessment of the rating of the financial status of enterprises
Financial activity of enterprises is a complex process, which is expressed using a system of indicators. The analysis of the financial activity of enterprises is the presence, condition, location and level of use of financial resources of enterprises. As shown above, the first stage of the analysis of the financial activity of enterprises is the general assessment of the financial situation. at this stage, the size of the enterprise's activity, overall efficiency, short-term and current assets of the enterprise, liabilities of the enterprise are analyzed. for this, the following indicators are used:
1. General absolute indicators of enterprise activity.
2. General relative indicators of enterprise activity.
3. Dynamic and structural indicators of enterprise funds.
4. Dynamic and structural indicators of enterprises' liabilities.
5. Dynamic and structural indicators of reserves and costs of enterprises. The analyzed enterprises can be different, including:
- by size small, medium and large enterprises, this situation affects the directions and depth of financial analysis;
- have different technologies and belong to different industries. This situation affects the supply of capital and working capital to enterprises;
- enterprises can cover their need for funds to different extents at the expense of themselves and liabilities.
All of them certainly affect the general, economic and financial activities of enterprises. Therefore, in the analysis of the financial situation, a general assessment is carried out. Each analyst, auditor, before analyzing the financial activity of the enterprise, examines its general activity. General absolute indicators are used for this purpose.
Data analysis leads to the following conclusions:
- the enterprise under analysis is one of the largest groups of republican enterprises and is of great importance in the country's economy;
- despite the severity of market relations, the company's material resources are growing;
- but the volume of products produced and sold in the enterprise decreased, the profit received decreased, therefore, the financial situation of the enterprise worsened;
- since the enterprise under analysis is one of the large enterprises, its financial situation may have a negative impact on the activities of other enterprises, and therefore the financial situation of this enterprise should be analyzed in all respects.
In the financial analysis, the general relative indicators help to express the financial situation of the enterprises in general. The following indicators are used as general relative indicators.
1. Gross output and gross profit, i.e., profit before taxes, per soum of the value of enterprise assets.
2. The gross output and gross profit of enterprises in relation to each soum of production funds, that is, fixed and circulating production funds.
Production funds make up the main part of the company's property, and the level of their use has a direct impact on the financial condition of the company.
In the general assessment of the financial situation of enterprises, it is important to analyze the dynamics and composition of their funds, because the dynamic and structural change of funds is one of the factors that determine the financial situation.
In this view, the indicators of dynamic and structural changes of the company's sources of funds, the dynamic and structural changes of the company's inventory, i.e., the dynamic and structural and analysis results of the company's funds are made and recommendations are made.
It is known that in the 1980s in our country, excessively centralized planning and management of the administrative-command, official system potential possibilities are running out. During this period, the objective necessity of fundamentally reviewing and changing the socialist economic theory, and improving the methods of building a socialist society, was put on the agenda. But these problems did not find their solution, the old management continued in the development of the national economy. The needs of the development of the national economy, its objective and subjective possibilities were not fully and comprehensively taken into account. The needs of the natural and economic conditions of individual regions and allied republics, which make an important contribution to the country's development, were not taken into account.
Although improving the welfare of the people was accepted as the main task of the state, these problems remained unsolved in practice. 4-6 times less funds were allocated for the social development of society compared to developed capitalist countries. This situation led to the fact that in 1990, 45% of the population of our republic lived in poverty. At the level of the Union, this figure was 15 percent.
The method of economic accounting, which was accepted as the main method of economic management in the activities of enterprises, was not used in moderation, its principles were not implemented in many sectors, enterprises and organizations. The economic independence of enterprises and organizations was fundamentally limited, they did not get their property and products.
On average, 15 percent of enterprises and organizations across the country did not bring a single soum of profit to the state budget, but worked at a loss, 25 percent of enterprises and organizations had a profitability level of no more than 10 percent, and about self-financing could not be.
The broad forms of popular movement that emerged among the masses - socialist competition, striving for communist labor, and other forms of movement were corrupted, derailed and turned into official events over time under the influence of administrative management. As a result, the producers and workers were limited and abandoned these forms of popular movement.
Despite the many adopted laws, decisions and measures, scientific and technical progress did not become the main decisive factor in the development of production. In this regard, the achievements of science and technology discovered in the country were not fully used, let alone the use of the achievements of foreign countries.
The economic reforms that were developed and effectively used in practice were not improved, deepened and carried out in accordance with the needs of the times. As an example, we can cite the economic reform of 1965 to improve planning and economic stimulation. It is known that this reform accelerated the development of the national economy in the eighth five-year period, the absolute and relative indicators of the quantitative and qualitative indicators of development, and the growth rates were radically increased. However, starting from the ninth five-year plan, the pace of development began to slow down again, because the reform that had begun was not improved, and was not carried out to the end. The rate of development decreased from year to year - these were the years of stagnation. Since 1990, the country faced an economic crisis, the economy began to go backwards. The volume of gross product production decreased sharply. Since 1991, Uzbekistan also experienced an economic crisis.
the leadership of the former union noticed this situation and began to look for ways out of the crisis.
There were two ways to solve this problem:
- first, to expand the economic independence of the allied republics;
- secondly, it was necessary to transfer the national economy to market relations.
During such an economic crisis, the dissolution of the former USSR accelerated the transformation of all the allied republics into independent states and the transition to a market economy. However, Uzbekistan developed a program for the transition of its national economy to market relations earlier, and it was adopted at the meeting of the Supreme Council of the Republic held in October 1990. So, Uzbekistan is finding its way to transition to market relations, developing its own model, forming a socially oriented market economy in the country and building it on the basis of democratic principles.
The formation and development of market relations in the national economy fundamentally changes the financial status of enterprises and organizations, the importance of their role, and the financial results of the activities of enterprises and organizations become the main indicators for evaluating their work. Market relations are the financial condition of enterprises and organizations during the formation and development of the market economy
The following situations affect the increase in importance:
1. Replacing the administrative command system with market relations fundamentally changes the criteria for evaluating the results of enterprise activity. If previously the results of the enterprise's activity were expressed, first of all, by the execution of the production program, that is, by the volume of the manufactured products, in the period of market relations, the activity of the enterprise is expressed by financial results and financial indicators - profit and profitability indicators. This, in turn, is a sign that attention is being paid to the financial status of enterprises during the period of market relations.
2. Regardless of the socio-economic system used in society, business management methods are used to organize the activities of enterprises. One such method is the method of economic accounting. The method of economic accounting was formed during the former Union and was widely used in our country. Because at that time, the activities of enterprises and organizations were organized on the basis of the principles of economic accounting. But at that time, economic accounting was officially used in the activities of many enterprises and organizations. Many industries and enterprises did not bring any benefit to the state budget, that is, they always worked at a loss and lived by receiving subsidies and subsidies from the state all the time.
Therefore, these enterprises and organizations did not implement the main principles of economic accounting - self-justification and self-financing. Because this situation was one of the main features of the system of administrative order and formalism. In connection with the transition to market relations, as the financial results become the main indicators, it is necessary to implement real economic accounting in the activities of enterprises. Therefore, the financial results of the enterprises will increase, market relations will not reject the method of economic accounting, but will accept it and implement the true economic accounting.
3. It is known that in the era of centralized planning, administrative orders and formalism, the financial needs of enterprises were covered mainly by financing from the state budget, because the social production of the national economy in our country mainly consists of one socio-economic structure. and was engaged in fulfilling his orders according to state plans.
As a multi-system market economy is formed in the period of market relations, and market relations are widely used in the state system, the needs of enterprises and organizations for funds are naturally met mainly not through financing, but through lending, i.e. by taking loans from banks. possible For this, enterprises must organize their activities effectively, have the ability to repay the loans received on time, that is, have sufficient financial resources.
4. Regardless of the system of centralized planning and formation of market relations, the state's participation, intervention, and its management role should be natural in the development of the national economy. However, in the centralized planning system, all enterprises and organizations were state-owned and under its care, so they always used state leadership, and the state always helped them. In the era of market relations, state aid is always decreasing. Enterprises and organizations have wide economic independence and should be responsible for their own activities. That is why enterprises and organizations should have their own financial status.
5. It is known that there was no inter-enterprise competition during the former Union. All of them worked according to state plans. Enterprises that have fallen into a difficult situation from the economic point of view continued their activities based on the support received from the state. There was no system for breaking up companies that fell into a difficult financial situation.
In connection with the transition to market relations, a system of inter-enterprise competition was formed. If the enterprises fall into a difficult financial situation, cannot repay the loans and debts received on time, applications are submitted to the economic court by banks and creditors against these enterprises, and the economic court decides that these enterprises are bankrupt or bankrupt. accepts. So, in order not to go bankrupt, enterprises should meet the requirements of market relations and keep their activities in a good financial condition.
6. Finally, while talking about the increasing importance of the financial situation of enterprises in the period of market relations, one more thing should be noted. As the republic enters the relations of the world market economy and cooperates with foreign countries, accounting and reporting systems in the republic should be transferred to international standards. This requires the use of the system of national accounts, the improvement of accounting and reporting systems in accordance with the requirements of the market economy, and the implementation of financial and management accounting and reporting systems. One of the main tasks of these events is to clearly show and comprehensively express the financial status of enterprises. Because in the era of market relations, the financial situation of enterprises becomes the main problem both in theory and in practice.
Thus, in connection with the transfer of the national economy to market relations and the formation of a market economy in the republic, attention is being paid to the financial condition of enterprises. Therefore, the analysis of the financial situation of enterprises becomes one of the most urgent issues, as well as learning and mastering the method of financial analysis becomes one of the main tasks of the national economy, all economic offices and bodies, organizations.
Active
1. Basic and abstract general funds.
2. Standardized funds (owned and credited to the enterprise).
3. Funds for capital repairs.
4. Account funds and other assets.
Passive
1. Funds belonging to the enterprise and funds equivalent to them.
2. Short-term bank loans.
3. Cost sources for capital repairs.
4. Other passives.
In the first part of the balance sheet assets, fixed assets, financing of capital investments, abstract general funds, internal calculations of the enterprise and allocations to funds were shown. In the second part of the asset, materials, raw materials, work in progress, balance of finished products in the warehouse and suppliers were represented. The third section showed completed and unfinished capital repairs and settlements with contractors and in the fourth section of the asset, the value of goods, money and funds in the account were reflected.
In the first section of the balance sheet liabilities, funds used for financing enterprise funds, long-term loans, payables and enterprise profit were shown. In the second section, bank loans received to cover the enterprise's needs for raw materials, work-in-progress, and finished products were indicated. The third section shows funds used to finance capital repairs, amortization fund, settlements with contractors, bank loans taken for capital repairs. In the fourth section of the liabilities, creditors, special funds, reserves and funds used for targeted financing were indicated.
It can be seen that during this period the balance sheet of the four-department enterprise was drawn up. Later, a five-section balance sheet was created and used for many years. This balance was as follows:
Active
1. Fixed assets and non-current assets.
2. Standard working capital.
3. Cash, accounts and other assets.
4. Capital funds and expenses.
5. The costs of forming the main herd.
Passive
1. Sources of funds belonging to the enterprise and equivalent funds.
2. Loans received for normal working capital.
3. Various loans, settlements and other liabilities received from banks.
4. Sources of capital construction funds.
5. Funding the costs of forming the main herd,
It should be noted that in the new balance sheet system, only the number of sections and their names have changed, as well as the content and structure of the balance sheet sections.
In the first section of the balance sheet asset, in addition to the main and abstract common assets, redistribution of working capital at the branch level, enterprise profit, depreciation of commodity resources and enterprise losses are indicated.
In the second section shows raw materials, main and auxiliary materials, purchased semi-finished products, fuel, spare parts for repair, low-value and perishable goods, work in progress, finished products and goods.
In the third section, cash, used, long-term bank loans, shipped goods, receivables, accounts with workers and servants are represented.
In the first section of the balance sheet shows the company's statutory fund, the amount of depreciation of fixed assets, funds received from the budget in order to increase the normal working capital, loans received from banks for this purpose, state subsidies, advances received from customers and in the second section, loans received for the turnover of the company's funds, loans received for material resources, finished products and goods are represented.
In the third section, loans obtained on settlement documents, contracts, advances received for temporary replenishment of working capital, loans received for settlements with suppliers, long-term loans, payables, special funds, amortization fund and other liabilities are indicated. After the five-part balance, it was switched to the three-part balance, which was used until 1993. this balance sheet was compiled in the following form:
Asset
1. Fixed assets and investments.
2. Loans and expenses.
3. Cash, accounts and other assets.
Passive
1. Sources of own funds.
2. Loans and other borrowed funds.
3. Bills and other liabilities.
It is known that the balance sheet before January 1, 1993 was gross, and from 1993 it was transferred to the net balance sheet. this balance also had three sections and was drawn up in the following form:
Active
1. Fixed assets and other non-current assets.
2. Reserves and expenses.
3. Cash, accounts and other assets.
Passive
1. Sources of own funds.
2. Long-term liabilities.
3. Bills and other liabilities.
Finally, starting from January 1, 1997, according to the order of the Ministry of Finance of the Republic of Uzbekistan on January 15, 1997, a new form of the balance sheet was adopted. Now the three-part balance sheet has been changed to a two-part balance sheet. This balance was drawn up in the following form:
Active
1. Long-term assets.
2. Current assets.
Passive
1. Sources of own funds.
2. Obligations.
Since January 2004, a new form of accounting balance has been adopted. The sections of the balance sheet are given as follows.
Active
1. Long-term assets.
2. Current assets, including: inventories; funds, total.
Passive
1. Sources of own funds.
2. Liabilities, total, including: long-term liabilities; current liabilities.
The difference of this balance sheet from the form of the balance sheet adopted in 1997 is that on the asset side of the balance sheet, the working capital of the enterprise is tangible reserves, i.e. tangible working capital and cash, and on the passive side of the balance sheet, it is shown in two, as before and current liabilities. These changes make it much easier to analyze the financial situation of enterprises.
Thus, the structure of the enterprise's balance sheet is constantly improved. This update includes the following changes:
First, the number of sections of the balance sheet for both assets and liabilities changed, and the company's funds and their sources became more concentrated.
Secondly, the names of the balance sections were changed, and the new names began to more fully reflect the content of funds and their sources.
Thirdly, the characteristics of funds of individual production branches and their covering sources were taken into account in the change of enterprise balance sheets.
Fourthly, in connection with the transfer of the national economy to market relations, the balance sheet of enterprises is being improved in the direction that meets the requirements of the market economy.
Fifth, in order to simplify the financial analysis, the gross balance was changed to the net balance.
Sixth, as the republic enters the world market economy, in the country
organization of accounts and reports is being transferred to international standards.