Halkin Vasyl, senior teacher, Mykolayiv National Agrarian University, Mykolayiv, Ukraine

ORCID ID: 0000-0003-4685-9630
e-mail: halkinvv@mnau.edu.ua

Analysis of Assets and Capital of the Enterprise

Abstract. Introduction. The article justifies the analysis of an enterprise’s assets, which are divided into three categories: non-current assets (e.g., fixed and intangible assets), permanent current assets (e.g., minimum cash balances in current accounts), and changes in current assets (i.e., the difference between actual and minimum current asset needs). The company’s asset formation policy is also justified: a conservative policy uses equity and long-term liabilities to form non-current assets, the fixed part of current assets, and the variable part of current assets. An aggressive policy uses equity and long-term liabilities, which together constitute permanent liabilities, only to form non-current assets. A compromise policy balances the cost of capital with the risk of insufficient financial resources (i.e., attracted sources).

The main components of the financial analysis of assets (horizontal analysis, vertical analysis, comparative analysis, analysis of financial ratios, and factor analysis) and receivables are presented. This analysis includes long-term, current, and bad receivables. The enterprise’s capital structure depends on industry-specific production, the duration of the production cycle, the company’s real turnover periods, consumer attractiveness, and the degree of profit generation. Relevant conclusions are drawn regarding changes in asset and equity values based on financial ratios.

Purpose. The main purpose of analyzing the assets and equity of a company is to assess and justify changes in assets based on financial ratios.

Results. The components of the financial analysis of the company’s assets, including accounts receivable, and the structure of equity are outlined.

Conclusions. The review demonstrates that objective conclusions can be drawn from financial ratios regarding the general trend of increases or decreases in asset and equity values.

Keywords: assets; accounts receivable; enterprise capital; financial analysis; ratios.

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