Improving financial planning in modern business environment

The main problem for any business - cost saving. The main ways to reduce costs is to save all kinds of resources consumed in production: labor and material. Thus, a significant portion in the structure of production costs is wages. Therefore the task of saving labor manufactured products, increase productivity, reduce headcount.

Reduced complexity of products, increase labor productivity can be achieved in different ways. The most important of them - the mechanization and automation of production, development and application of advanced, high technology, modernization and replacement of obsolete equipment.

As sources of funds for improvement finasovoho planning, then these include:

1. The implementation of products with immediate payment or a discount.

2. Getting receivables.

3. Sale of reserve cash assets.

4. Sale of tangible and intangible assets (excess inventory).

5. Obtaining bank loans.

6. Attracting investments, private equity and other contributions to the statutory fund. [20, p.. 102]

The first four ways more appropriate because it does not lead to an increase in the balance sheet. In these cases, funds are created through restructuring of assets. The last two can be used to support the current solvency in extreme cases, because they lead to the diversion of borrowed funds from the targeted use.

But on current liquidity, then this ratio is within normal limits. The company has a problem with cash. Therefore we must pay attention to sales for cash. This should facilitate the marketing policy (search for new, better-paying customers, new markets, expanding distribution network, improving product quality).

To replenish the equity must, first of all, assess the value of his involvement with various sources. Before you turn to outside sources of equity to be realized the possibility of its formation from domestic sources. A major internal source - earnings and depreciation.

So, to improve business production activities must be made as follows:

1. Accelerate the turnover of working capital through the intensification of supply;

2. Reducing processing costs through modernization of production equipment and new technologies. [20, p.. 108]

There should be a flexible system of discounts and credits to wholesalers, to study the effectiveness of the organization and conduct seasonal sell-off in price.

All these measures will enhance the institution proceeds and profits to a desired size, which may increase the return on capital.

But if the amount of equity capital from domestic sources is insufficient, we must turn to external sources of attraction. This requires the need for emission of the business. The main purpose of this policy is to engage in stock market necessary amount of own funds in minimum possible time. [16, sec. 183]

Along with the equity of the company a measure of financial resources creates by borrowed capital. For specific gravity within the involved funding A major bank loans and accounts payable, including commercial and commercial loans. The need for credit as a source of replenishment of financial resources is determined by the nature cycle of fixed and current assets. But as a source of financing, loan capital also has its own characteristics:

1. The relative simplicity of baseline estimates. The cost of servicing debt in the form of interest on the loan;

2. Payments for debt service related to costs, which reduces the size of the taxable base of enterprise, that size cost of debt capital decreases by corporate tax rate;

3. The cost of debt capital to attract a high degree of communication with the level of creditworthiness of the enterprise, estimated to creditor. What pronouncement solvency of the enterprise to assess the lender, the lower cost of debt capital raised;

4. Involvement of debt capital due to the return cash flow to service debt and the repayment obligations on the principal amount of debt.

Internal cost payable in determining the cost of capital accounted for zero rate because it is free of charge at the expense of financing this debt capital. But we can not increase the amount of capital due to this source, because if the funds are delayed for a long time in circulation and are not returned promptly, it may cause debt-laden, in the end lead to the payment of fines, sanctions and worse financial condition.

For debt capital, in company with the existing structure of the low and return on assets compared to interest rates on loans are very slight possibility of his involvement. We must first solve the problem of Supply and improve solvency of the enterprise.

Optimizing the financial structure of capital is one of the most important and difficult tasks of financial management. Optimal capital structure - it is the ratio of its own and borrowed sources, at which the optimal ratio between the level of return on equity and financial stability, ie maximizing the market value of the company. [16, sec. 201]

Thus, as a result of the options considered can be said that the policy of optimizing capital structure aimed at increasing the share of equity. Namely profit, due to the inability to attract loans. But if the goal to improve return on equity, then theoretically the best option - involving loans. But there are limitations on the solvency ratio, which is not to increase the loan capital without increasing assets. Increasing the share of current assets to increase the loan capital and reduce their own and maintain solvency. Return on equity by more than the sum of its lower and higher income, and the replacement of the equity loan it raises.