Formula: coefficient of financial dependence. Calculation. Factor of financial dependence - the formula on balance

To assess the effectiveness of themanagement company management policy, applies a variety of techniques. One of them is the definition of the coefficients of financial stability. This information interests both the founders and creditors of the enterprise. Therefore, it is so important for financial analysts. One of the key elements of the presented methodology is the formula. The coefficient of financial dependence will allow to assess the balance structure and improve it in the future period. This is a very useful kind of analysis. The formula of the coefficient of financial dependence is often used by Western analysts. In assessing the company's operating performance, this is one of the important indicators.

General information

Western economists call the indicator DebtRatio, which further discloses the above formula. The coefficient of financial dependence is used to assess the structure of the balance of the enterprise in terms of the distribution of its borrowed funds.

In our country, instead of determining the coefficientfinancial dependence on the balance often apply the formula of the company's autonomy. That is, the assessment of the structure of the sources of capital is made in terms of the availability of own funds.

However, applying the formula for calculating the coefficientfinancial dependence, it is possible to estimate liabilities on the reverse side. This indicator is important for investors and testifies to the company's solvency. On the basis of these data, the creditors conclude that it is advisable to provide a loan. Therefore, when carrying out research on the structure of the enterprise's capital, it is necessary to evaluate the dynamics and amount of borrowed funds.

Capital of creditors

The borrowed capital of an enterprise is the amount of its long-term and short-term liabilities to creditors.

These two articles of sources of liability add up,to calculate the coefficient of financial dependence. The formula for the balance assumes the exclusion from calculations of such items as "Deferred income" and "Reserves for future expenses". Calculation of the formula for the coefficient of financial dependence is carried out for the reporting period without taking into account future receipts or decreases in the balance currency.

Borrowed capital with a decrease in its numberin the structure of the balance increases the stability of the company. But as experience of western manufacturers shows, it should be used by the enterprise to increase profitability.

Calculation formula

The coefficient of financial dependence, the formula for the balance of which is calculated for the operational period, generally looks like this.

КЗав. = Borrowed capital / Assets

To find the capitalized sources of financing that participate in the formula of the factor of dependence of the enterprise, they make such calculations:

ZK = Long-term liabilities + Short-term liabilities - Deferred revenues - Provision for future expenses.

This allows us to determine the long-term dependence of the company's activities on paid sources of capital.

Balance calculation formula

The coefficient of financial dependence of capitalized sources, the formula for calculating which was presented above, is determined using Form 1 of the accounting report.

To make calculations, you should apply such lines of the new balance:

КЗав. = (pp. 1400 + pp. 1500 - p. 1530-p. 1540) / p. 1700.

This formula for the coefficient of financial dependenceon the lines of balance is relevant from 2011. For periods that were displayed earlier than this time, another interpretation of the articles of the coefficient of financial dependence will be relevant.

Normative value

The coefficient of financial dependence, the formula for calculating which was considered above, must be compared with the normative value.

In the economic literature, many authorsindicate its value is less than 0.7. However, the Order of the Ministry of Regional Development of the Russian Federation 173 of April 17, 2010 regulates the standard of less than 0.8. Otherwise, the enterprise is considered to be dependent on borrowed capital.

Also note that the value is too lowthe indicator shows that the company is missing a chance to expand its activities. After all, borrowed capital allows you to receive a greater profit. It should be noted that the coefficient of financial dependence, the formula for the balance lines of which has been discussed in detail above, should take into account the specifics of the industry belonging to the organization.

Complex analysis

To properly assess financial sustainabilityenterprises, it is necessary to consider the coefficient of dependence on the attracted capital in the complex. For this, autonomy and leverage are calculated. They are similar to the field of research, but to look at different angles on the indicators allows each of their formula. The coefficient of financial dependence is the reverse meaning of autonomy. For this indicator, the ratio of own sources to the balance currency is used. The coefficient of financial leverage will allow to calculate the optimal ratio of sources of liabilities.

Calculation example

Studying by what formula is calculatedcoefficient of financial dependence, should be calculated in dynamics. For example, at the beginning and end of the period. Let's assume that long-term liabilities have decreased from 20,486 to 20,009 million rubles. At the same time, the company's short-term liabilities also decreased from 10 347 to 5749 million rubles. Reserves for future expenses were, respectively, 0.1 and 0.13 million rubles. at the beginning and end of the period. The currency of the balance sheet decreased from 81,717 to 77,050 million rubles due to all the changes listed above.

The calculation will be as follows:

КЗав.1 = (20 486 + 10 347 - 0,1) / 81 717 = 0,37.

КЗав.2 = (20 009 + 5749 - 0,13) / 77 050 = 0,33.

It can be concluded that for the considered yearThe enterprise reduced the number of long-term and short-term liabilities in the structure of the balance currency. This led to a decrease in the amount of aggregate funds. However, this became a positive trend, since the coefficient of financial dependence decreased in the period under review. The structure of liabilities due to these changes has improved. Throughout the study period, the indicator was within the limits of the standard. This indicates the financial sustainability of the research object.

Having considered the methodology for determining stabilityenterprise, which allows you to evaluate the formula, the coefficient of financial dependence can help to make a conclusion about the appropriateness of the company's borrowing capital. Having carried out research in dynamics and comparing the indicator with the standard, it will be easy to understand the harmony of the balance sheet liability structure, and also to develop a plan for its improvement in the future period. This makes it possible for the company to obtain more profit, as well as its reliability rating among the industry's enterprises.