Question

Приведены следующие выборочные данные баланса производственной компании А на 01. 01. 2005 г. (млн. руб.): Внеоборотные активы 1900 Оборотные активы: производственные запасы 159 дебиторская задолженность 350 денежные средства 5 Всего оборотных активов 505 Краткосрочные обязательства: 505 заемные средства 280 кредиторская задолженность 445 Всего краткосрочных обязательств 725 Чистый оборотный капитал 220 И т о г о 1680 Вычислить: а) коэффициент текущей ликвидности; б) коэффициент быстрой ликвидности. Что вы можете сообщить о полученных результатах?

Answer 1

Решение:

Коэффициент текущей ликвидности рассчитывается по формуле:

Ктл = Оборотные активы предприятия / Краткосрочные обязательства

Ктл = 505/725 = 0,7

Вывод: нормальным считается значение коэффициента текущей ликвидности в пределах от 1,5 до 2,5. Если этот показатель меньше 1, это означает, что предприятие не в состоянии оплачивать свои текущие счета.

 

Коэффициент быстрой ликвидности рассчитывается по формуле:

Кбл = (Оборотные активы - Запасы) / Краткосрочные обязательства

Кбл = (505-150)/725 = 0,49

Вывод: Нормой считается значение 1,0 и выше. При значении коэффициента менее 1 ликвидные активы не покрывают краткосрочные обязательства, а значит существует риск потери платежеспособности, что является негативным сигналом для инвесторов.

Answer 2

Calculation of Liquidity Ratios for Company A

To calculate the liquidity ratios for Company A, we need to use the given data from the balance sheet as of January 1, 2005. Let's calculate the two requested ratios:

а) Current Ratio:

The current ratio measures the ability of a company to pay off its short-term liabilities using its short-term assets. It is calculated by dividing the total current assets by the total current liabilities.

In this case, the total current assets are the sum of the production inventories, accounts receivable, and cash, which amounts to 505 million rubles. The total current liabilities are the sum of the borrowed funds and accounts payable, which amounts to 725 million rubles.

Therefore, the current ratio can be calculated as follows:

Current Ratio = Total Current Assets / Total Current Liabilities Current Ratio = 505 / 725 Current Ratio ≈ 0.6965

б) Quick Ratio:

The quick ratio, also known as the acid-test ratio, is a more stringent measure of liquidity. It excludes inventories from the current assets since inventories may not be easily converted into cash in the short term. It is calculated by dividing the sum of cash and accounts receivable by the total current liabilities.

In this case, the sum of cash and accounts receivable is 350 + 5 = 355 million rubles.

Therefore, the quick ratio can be calculated as follows:

Quick Ratio = (Cash + Accounts Receivable) / Total Current Liabilities Quick Ratio = 355 / 725 Quick Ratio ≈ 0.4897

Interpretation of Results

а) Current Ratio:

The current ratio for Company A is approximately 0.6965. This means that for every ruble of short-term liabilities, the company has around 0.6965 rubles of short-term assets available to cover those liabilities. Generally, a current ratio above 1 is considered favorable, as it indicates that the company has sufficient current assets to meet its short-term obligations. However, a current ratio below 1 may suggest potential liquidity issues.

б) Quick Ratio:

The quick ratio for Company A is approximately 0.4897. This ratio provides a more conservative measure of liquidity by excluding inventories. It indicates that for every ruble of short-term liabilities, the company has around 0.4897 rubles of highly liquid assets (cash and accounts receivable) available to cover those liabilities. Similar to the current ratio, a quick ratio above 1 is generally considered favorable.

Based on the calculated ratios, we can observe that both the current ratio and quick ratio for Company A are below 1. This suggests that the company may have some liquidity concerns, as its short-term assets may not be sufficient to cover its short-term liabilities. It is important for the company to carefully manage its liquidity position to ensure it can meet its financial obligations in a timely manner.

Please note that the above analysis is based on the provided data and calculations. It is always recommended to consider additional factors and perform a more comprehensive analysis when evaluating a company's financial health.