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Published by: Usman Hassan on Jun 25, 2012

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06/25/2012

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3.4Formeconcretedemanifestareaechilibruluifinanciar3.4.1Echilibrul
financiar
staticEchilibrulfinanciarstatic
necesarulderesurse
sedeterminainfunctiedecerintele
impusede
intreprinzator,reprezentatedevolurnuldeactivitateaintreprinderiisidecativaindicatorideapreciereaeficienteipecareintreprinzatcrulsperasa-iobtina.b)Inetapa
de
executieabugetuluiseurmaresteasigurarearesurselorlanivelulprevederilordinbuget,repartizareaacestorapedestinatiisiurmarireamodalitatilordeutilizareeficientaaacestorresurse.Lanivelulintreprinderiiechilibrulfinanciarstaticsemanifestsinmodconcretsubforma
solvabilitatii,
Solvabilitatea
exprima
0
situatietemporara,inconditiileincareexista
0
0
stare
deinsolvabilitate.
.Inapreciereasolvabilitatiiseutilizeazaunsirintregderateprincareseraporteazaactivelerealizabilelaobligatiileexigibile,invedereaevaluariirisculuidefaliment.Rateleeelmaifrecventutilizatesunt:a)
Rata
solvabilitatii
generale
(RsG),caresecalculeazaastfel:
RsG
=
(Activcirculant)
I
(Obligatii
petermenscurt)
FR)
calculatacaraportintrecapitalulpermanentsiactivulimobilizat:
RFR
=
(Capitalulpermanent)
I
(Activimobilizat)
Ratasolvabilitatiigeneralenupermiteo·aprecieredefinitivaasuprasolvabilitatii'petermenscurt,deoareceare
·0
Ratasolvabilitatii
partiale(Rsp),secalculeazaprin
13

excludereastocurilordintotalulactivelorcirculante,deoareceacesteaconstituieelementuleelmaiincertdinpunctdevederealvaloriisilichiditatiisale:
Rsp
=
(Activecirculante-Stocuri)/
(Obligatii
pe
termen
scurt)sau:
~P
=
(Creante
+
Plasamente
+
Disponibilitati)/(Obligatii
pe
termen
scurt)
Rspexprim_acapacitateaintreprinderiidea-sionoraobligatiilepetermenscurtdincreantesidisponibilitati,Inteoriaeconornicasuntpareripotrivitcarora
0
ratacuprinsaintre
0,8
si1reprezinta
0
situatieoptima,inceprivestesolvabilitatea(M.Assaeaf,
Analysefinancieredel'entrepriseeuropeenne,
Notedecurs,Toulouse,1991).
c)Rata
solvabilitatii
imediate(RSI),
~Sl
=
(Plasamente
+
Disponibilitati)/(Obligatii
petermenscurt)
Inteoriaeconomicaseapreciazafavorabildaca:
Rsl
>
0,3.
Ininterpretarearateitrebuieobtinutesialteinformatiiprivindconditiilededesfasurareaactivitatii,Desi,teoretic,
0
rataridicataindica
0
lichiditate,respectiv
0
0
folosiremaiputinperformantaaresurselordisponibile.Deasemenea,
0
valoareridicataaacesteirate,nueste
0
garantieasolvabilitatii,dacacelelalteactiveau
un
o
valoarescazutaarateidesolvabilitateimediatapoatefiperfectcornpatibilaeumentinereaechilibruluifinanciar,dacaintreprindereaminimizeazavaloareaincasarilorsaledardetinetitluri
de
(RAF)'
R.<\F
=
(Obligatii
petermenmediusilung)
J
(Capitalpropriu)
Creditoriiimpuncanivelulacesteiratesafiesubunitar.Deasemenea,inapreciereasolvabilitatiiserecornandacomparareaactivuluinetcontabilcutotalulpasivului.Anumiteinstitutiifinanciarepretindcaactivulnetcontabilsafiemaimaredecat
0
treimedinvaloareapasivului.d)Ratasolvabilitatii
patrimoniale:
S
I.
Capitaluriproprii
100
o
v
patrim
=
TI.Xota
pasiv
CoeficientuI
solvabilitatii:
KI
Capitalsocial
sov
=
Capitalpermanent
Seapreciazacaintreprindereaare
0
1.4.2.Echilibrulfinanciardinamic
reprezintaaptitudineaintreprinderiidea-si
14

0
Kc-
Dispban+Creante+Ef+Alteactive
appl-
Datoriipetermenscurt
Unde:Dispban-disponibilitatilebanestiincasieriesiinbancaCreante-sumedeincasatdelaclientisidebitori.Ef-efectelecomercialedeincasat(cambii,biletelaordin,cecuri)Alteactive-alteelementedeactiv(stocuridiverse,aItevaloriincasieriaintreprinderii)Datoriipetermenscurt~creditesidatoriipetermenscurtSeconsidersca
echilibrulfinanciaresteperfect
atuncicandvaloareacoeficientuluicapacitatiideplataesteegalacuunu;
0
valoaresubunitaraindicaexistentaunordificultatiin.efectuareaplatilordecatreintreprindere,
iar
0
valoaresupraunitaraindicaexistentauneicapacitatibunedeplata...Acestcoeficientalcapacitatiideplataexprima
0
0
0
mediearitmeticasimplaa.coeficientilorindividuali,calculatiinacelinterval.
v_
r=l
Kcappit
~""cappi-
--n--
unde:
KcappIt-