Труды Кубанского государственного аграрного университета

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2019, № 79

UDC: 658.153
GSNTI: 06.75.10

Incomplete production as a liquidity factor in agricultural assets of agricultural organizations

The liquidity of current assets is one of the qualitative characteristics of the mobile property of an economic entity in the agricultural sector. It is characterized by the following indicators: absolute, quick and current liquidity. Absolute liquidity is characterized by the ratio of the most liquid assets and the most urgent liabilities; cash and cash equivalents, financial investments (excluding cash equivalents) are considered the most liquid, and payable accounts are the most urgent liabilities; their ratio from 0,2 to 0,5 is considered theoretically sufficient. Quick liquidity ratio characterizes the ratio of the sum of the most liquid and less liquid current assets to short-term liabilities; theoretically sufficient is considered a value from 0,2-0,7 to 1,0. The current liquidity ratio determines the ratio of the carrying value of current assets to the total amount of short-term liabilities; a value of 2,0 or more up to 3-4 is considered theoretically sufficient for agricultural organizations. Liquidity is also considered by the time the current assets are converted into means of payment; the less time this procedure takes, the higher is the liquidity, and vice versa. The magnitude of the liquidity indicators of current assets is the solvency of the organization. The most accurate assessment of solvency is given by the analysis of means of payment. Assets and liabilities are grouped; assets are grouped by the degree of their liquidity, and liabilities by the timing of their occurrence and maturity. The means of payment are determined by comparing the assets and liabilities of the respective groups. An increase in the amount of assets over liabilities means an excess of means of payment, an excess of liabilities over assets indicates a lack of means of payment. The first group includes the most liquid assets (cash and financial investments, excluding cash equivalents), and of the liabilities - the most urgent (accounts payable); the second group includes current assets (receivables), and term liabilities (debt on short-term loans and borrowings); the third group includes slow-moving current assets (stocks, value added tax on acquired values) and long-term loans and borrowings; the fourth group includes hard-to-sell assets and equity in liabilities. The excess of equity over hard-to-sell assets indicates the availability of working capital. The accuracy of the assessment of the liquidity of current assets, the balance sheet largely determines the cost of work in progress at the end of the year, which is a part of the cost of production for future periods. But the authors of the traditional methodology for analyzing the liquidity of current assets and means of payment ignore this fact. As a result, the assessment of current asset liquidity, balance sheet and means of payment are overestimated. The article gives a critical assessment of the traditional methodology of analyzing the liquidity of current assets, discloses its imperfection and substantiates methodological methods of improvement.
Keywords: Liquidity of current assets, liquidity analysis methodology, imperfection of traditional methods, work in progress, method improvement, agricultural organization
DOI: 10.21515/1999-1703-79-45-50


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  1. Prudnikov Anatoly Grigorievich, DSc in Economics, professor, Federal State Budgetary Educational Institution of Higher Education “I.T. Trubilin Kuban State Agrarian University”.
  2. Zakharenko Anastasia Mikhailovna, undergraduate student, Federal State Budgetary Educational Institution of Higher Education “I.T. Trubilin Kuban State Agrarian University”.