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BAZELE TEORETICO-METODOLOGICE ALE ANALIZEI ECONOMICO-FINANCIARE
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1 2 3 Elemente

1.1

1.2

2.1

2.2

2.3

3.1

3.2

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1.1.3 d d

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de diferite criterii, astfel: I)

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A) analiza post-factum sau post operatorie, obiectivelor); B) analiza previzionaO VDX SURVSHFWLY . II)
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DO

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A) B) V)
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1)

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2)

ei cu

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3)

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ac LRQHD] ; 4)
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ci, tehnologici, economici, sociali, politici, juridici psihologici, demografici etc.

Sindicatele Grupurile politice Comunitatea 8  
Guvernul Comunitatea de afaceri

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comunitare locale Mass-media

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Creditorii Organismele '
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ntreprinderea

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II)

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asupra fenomenului analizat;

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ntreprinderii.
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economico-financiare ale

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Tipologia modelelor: modele imitative sau iconice; modele analogice; modele simbolice.

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ilor (litere, ,
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Metode utilizate: 2.1. Indicatorii economico-financiari. 2.2. Indicii FD PHWRG GH H[SULPDUH D GLQDPLFLL IHQRPHQXOXL economico-financiar. 2.3. &RHILFLHQ LL GH VWUXFWXUD HFKLOLEUX HILFLHQ . 2.4. Ratele (ratio sau rating). 2.5. Tehnicile scorurilor (scoring) ca metod a analizei discriminante. 2.6. 0HWRGD VXEVWLWXLULORU vQ ODQ PHWRGD LWHUDULL. 2.7. Metoda calcului matricial.

2.8. Metoda ABC. 2.9. Metodele cercet rii opera ionale jocurilor, simularea etc.). 2.10. Metodele analizei regresionale. 2.11. Metodele sociologice.

(programare,

tehnicile

2.1. Indicatorii economico-financiari D LQIRUPD LHL

IRUPD GH H[SULPDUH FRQFHQWUDW

Exemplu:
CA = M +

qv p ,

unde: CA = cifra de afaceri; M P UIXUL YkQGXWH qv = produsele vndute; p SUH XO GH YkQ]DUH (exclusiv TVA). 2.2. Indicii, UHSUH]LQW R PHWRG IUHFYHQW XWLOL]DW vQ DQDOL]D IHQRPHQHORU economico - ILQDQFLDUH &X DMXWRUXO ORU VH VWDELOHWH GLQDPLFD ID GH R ED]
IL[ VDX vQ ODQ  VH FRQVWUXLHVF ULWPXUL VH IDF DSUHFLHUL DVXSUD HYROX LHL

performan HORU D FDSDFLW 2.3.

&RHILFLHQ LL 5HSUH]LQW &RILFLHQ LL

LL VLVWHPXOXL GH D HYROXD vQWU

-un context dat.

(ratele) de structur

 HFKLOLEUX L HILFLHQ

R PHWRG GH

GH PDUH XWLOLWDWH VH

n diagnosticarea fenomenelor
SUL

QWUHSULQGHULL D SHUIRUPDQ HORU ORU

VWUXFWXU GHWHUPLQ

n raportarea unei

componente la ansamblul fenomenului cercetat:

Ki =

ei ; ei

unde: Ki FRHILFLHQW GH VWUXFWXU ; ei = elementele componente ale fenomenului, rezultatului.

Coeficien

LL GH HILFLHQ

UH]XOW

GLQ FRPSDUDUHD HIRUWXULORU GHSXVH

FX UH]XOWDWHOH RE LQXWH

sau invers:
Ke = Efect ; Efort Ke = Efort Efect

unde:
Ke
FRHILFLHQW GH HILFLHQ 

Exemplu:
Rf = Pn 100 , K pr

unde: Rf UDWD UHQWDELOLW LL ILQDQFLDUH a capitalului propriu; Pn = profitul net; Kpr= capitalul propriu. Coeficien
LL

de echilibru

VH GHWHUPLQ

FD

raport QWUH

GRX

P ULPL

FRPSDUDELOH FX VHPQLILFD LH vQ WHUPHQL GH HFKLOLEUX HFRQRPLF VDX ILQDQFLDU

De exemplu:

K=

Kp Kp + I

unde: K = coeficientul (rata) autonomiei financiare; Kp = capitalul propriu; I = mprumuturile SH WHUPHQ PHGLX L OXQJ 2.4. Ratele
5HSUH]LQW XQ UDSRUW vQWUH D GRX P ULPL FRPSDUDELOH HYDOX ULL HFRQRPLF (OH VXQW ODUJ U VSkQGLWH vQ OLWHUDWXU

L SUDFWLF L

ORJLFRa din domeniul DFWLYLW LL

analizei economico-ILQDQFLDUH ntreprinderilor. De exemplu:

Rc =

GLDJQRVWLF ULL

qp qc 100 , qc

unde: Rc UDWD UHQWDELOLW

T S

LL UHVXUVHORU FRQVXPDWH

FDQWLWDWHD YkQGXW  SUH XO PHGLX GH YkQ]DUH SH SURGXV I FXW FX SUXGHQ vQ IXQF LH

c = costul pe unitate de produs; Interpretarea ratelor trebuiH termen al raportului.

5DWHOH FD PHWRG

de fiecare -financiar

GH P VXUDUH D IHQRPHQXOXL HFRQRPLFR

pot fi grupate n:
UDWH GH VWUXFWXU

rate de gestiune; rate de echilibru; UDWH GH HILFLHQ . (scoring), ca metode

R PHWRG DO

2.5. Tehnicile scorurilor discriminante

6FRUXO PHWRGD FX FDUH VH

ale
GH

analizei
DQDOL] GH

VFRULQJ RSHUHD]

UHSUH]LQW vQ PHGLXO

discriminant
UHJXO

H[WHUQ

vQWUHSULQGHULL

vQ E QFL 5HSUH]LQW

R IXQF LH FRQVWUXLW

SH ED]D XQXL DQXPLW QXP U %DQFD

de indicatori.

'H H[HPSOX XQD GLQ IXQF LLOH VFRU FX FDUH RSHUHD]

)UDQ HL XWLOL]HD]

8 LQGLFDWRUL LDU YDORULOH HL DX OD ED] REVHUY UL vQ WLPS SH un nXP U GH DQL L eVWH DSOLFDELO vQWUHSULQGHULORU FX SHVWH  GH VDODULD L 3ULPHOH OXFU UL SULYLQG Petoda scorurilor au fost realizate n S.U.A.,
vQWUH DQLL  L  LDU vQ )UDQ D VSUH VIkULWXO DQLORU  )XQF LD VFRU = DUH IRUPD

Z = ax1 + bx2 +..+ zxn , unde: x1 ,.. xn = ratele implicate n calcul; a,b,......z = coeficien ii de ponderare. Aceste metode se folosesc preponderent n investigarea echilibrului financiar, unde nu substituie alte metode, FL OH FRPSOHWHD] 
6FRUXO = FDOFXODW OD QLYHOXO XQHL ILUPH LQGLF JUDGXO GH LORU OD

vulnerabilitate al acesteia, punnd n eviGHQ

DQDOL]D FRPSDUDWLY

existen D GLVIXQF LRQDOLW

D GLQDPLFLL VFRUXOXL LQGLYLGXDO FX HYROX LD FRQVWDWDW SUHGLVSR]L LD ILUPHL OD ULVF vQWU

nivelul sectorului de activitate reflect

DQXPLW PHGLX FRQFXUHQ LDO

-un

2.6. Metoda substituirilor n lan (metoda iter rii)

3HUPLWH FXDQWLILFDUHD FRQWULEX LHL GLIHULWHORU HOHPHQWH VDX IDFWRUL OD IRUPDUHD L PRGLILFDUHD 6H DSOLF

rezultatului ID
LQIOXHQ

GH XQ QLYHO GH FRPSDUD LH DX IRUPD GH SURGXV VDX UDSRUW

vQ FD]XO vQ FDUH UHOD LLOH GH WLS GHWHUPLQLVW GLQWUH UH]XOWDW L VDX LQYHUV  ,WHUDUHD VH IDFH FX UHVSHFWDUHD D 

elemente sau factorii de

SURSRU LRQDOLWDWH GLUHFW

principii: a) DH]DUHD IDFWRULORU VH IDFH vQ RUGLQHD FRQGL LRQ rii lor economice, ceea FH vQVHDPQ RUGLQHD GH DQDOL]  DGLF nti factorii caQWLWDWLYL L DSRL
FHL FDOLWDWLYL GDF DSDU IDFWRULL GH VWUXFWXU HL LQWHUYLQ LPHGLDW GXS

cei cantitativi); b) substituirile se fac succesiv; c) XQ IDFWRU VXEVWLWXLW VH PHQ LQH FD VWDUH vQ RSHUD LLOH XOWHULRDUH De exemplu, ntr-un model de 3 factori, fenomenul cap W H[SUHVLD Y = f (x) respectiv y = f (x1 , x2 , xn) Exemplu:
$GLF 

Pe = A e

CA Pe A e CA

y = x1 x 2 x 3 ,

unde:
Ae

= active de exploatare;
FLIUD GH DIDFHUL vQ SUH XUL GH YkQ]DUH H[FOXVLY 79$

CA
Pe

= profitul din exploatare aferent cifrei de afaceri. Cazul teoretic: I) Modelul n forma unui produs de mai mul i factori:
R = a bc

unde: R = rezultat;


a,b,c = factori de influen

a) n care:

Q P

ULPL DEVROXWH  L

R 0 = a 0 b 0 c0 R = R1 R 0
LQIOXHQ D

R1 = a1 b1 c1
GLQ FHL  IDFWRUL DVXSUD PRGLILF ULL

rezultatului ( R  UHOD LLOH VXQW XUP a) LQIOXHQ D IDFWRUXOXL a: b) c)

LQIOXHQ D IDFWRUXOXL

6HSDUkQG

ILHF UXLD

WRDUHOH

a1 b 0 c 0 a 0 b 0 c 0 = (a1 a 0 ) b 0 c 0

b: c:

a1 b1 c 0 a1 b 0 c 0 = a1 (b1 b 0 ) c 0
LQIOXHQ D IDFWRUXOXL

a1 b1 c1 a1 b1 c0 = a1 b1 (c1 c 0 )

b)

Q P

ULPL UHODWLYH D SURGXVXOXL GH LQGLFL

6H DUH vQ YHGHUH IRUPXOD JHQHUDO

IR =

i 0 i 2 i 3 i n 100n 1

Q FD]XO GDW UH]XOW 

IR =

R1 i i i 100 = a b c R0 1002

unde: IR = indicele rezultatului analizat; i1, i2,..., in = indicele factorului respectiv;

IR = IR - 100.

a) b)

LQIOXHQ D IDFWRUXOXL LQIOXHQ D IDFWRUXOXL

a:

ia - 100

b: ia ib i (i b 100) ia = a 100 100 c) LQIOXHQ D IDFWRUXOXL c:

i a i b i c i a i b i a i b (i c 100) = 100 100 2 100 2

II) Modelul n forma unui raport dintre doi factori: II.1)

R=

a , b

unde: a = factor cantitativ; b = factor calitativ.

Q P

ULPL DEVROXWH

a)

a: a1 a 0 (a a 0 ) = 1 b0 b0 b0 b) LQIOXHQ D IDFWRUXOXL b: 1 a1 a1 1 = a1 b1 b 0 b1 b0
Q P ULPL UHODWLYH

LQIOXHQ D IDFWRUXOXL

IR =

R1 100 = R0

ia 100 ib

a) b)

LQIOXHQ D IDFWRUXOXL

a: b:

i a 100
LQIOXHQ D IDFWRUXOXL

ia i 100 ia b
II.2) R =
Q P

a , b

unde:

a = factor calitativ; b = factor cantitativ.

ULPL DEVROXWH

a)

LQIOXHQ D IDFWRUXOXL

b:

1 a0 a0 1 = a0 b1 b 0 b1 b 0

b)

LQIOXHQ D IDFWRUXOXL

a:

a1 a 0 ( a1 a 0 ) = b1 b1 b1

Q P

ULPL UHODWLYH

IR =

ia 100 ib

IR = IR 100
a)
LQIOXHQ D IDFWRUXOXL

b:

100 100 ib

b)

LQIOXHQ D IDFWRUXOXL D

ia 100 2 x 100 ib ib
0HWRGD VH DSOLF H[LVW UHOD LL GH VXP L vQ FD]XO vQ FDUH vQWUH YDULDELOHOH XQXL PRGHO 0HWRGD EDODQWLHU

LVDX GLIHUHQ

):

R = a + b c; De exemplu : unde: D YROXPXO YkQ] Si VWRF LQL LDO I LQWU UL Sf = stoc final. D = Si + I Sf,
ULORU

,QIOXHQ HOH IDFWRULORU VXQW XUP WRDUHOH  ,QIOXHQ D VWRFXOXL LQL LDO

Si1 Si 0
 ,QIOXHQ D LQWU ULORU

I1 I 0

3. InIOXHQ D VWRFXOXL ILQDO Sf1 Sf 0

2.7. Metoda calculului matricial

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LQIOXHQ HL IDFWRULORU

nt ULQG SULQFLSLLOH PHWRGHL VXEVWLWXLULORU vQ ODQ  6H SRDWH DSOLFD vQ WRDWH domeniile analizei economice, iar utilizarea calculatoarelor electronice i confer XQ PDUH JUDG GH GHWDOLHUH H[DFWLWDWH L HILFLHQ . 2.8. Metoda ABC
,QL LDWRUXO DFHVWHL PHWRGH HVWH 3DUHWR 6H PDL QXPHWH L PHWRGD  L SURSXQH R DQDOL] VHOHFWLY D FRPSRQHQWHORU XQXL IHQRPHQ VDX SHQWUX

rezultat n func LH

GH SR]L LD ORU vQ FDGUXO vQWUHJXOXL 6H XWLOL]HD]

DQDOL]D YkQ] ULORU SH SURGXVH FDWHJRULL GH FOLHQ L HWF Q FD]XO VWUXFWXULL YkQ] ULORU SH SURGXVH FXUED WHRUHWLF H[LVWHQ D D  VXEJUXSH FX FDUDFWHULVWLFL VSHFLILFH

presupune

10- GLQ QXP UXO GH SURGXVH VDX P UIXUL UHSUH]LQW -70% din cifra de afaceri (zona A); deci o subgruS FDUH FXSULQGH IRDUWH SX LQH SURGXVH VDX P UIXUL GDU FDUH UHDOL]HD] o mare parte din cifra de afaceri; 25- GLQ QXP UXO GH SURGXVH VDX P UIXUL YkQGXWH GDX -30% din cifra de afaceri (zona B); 65- GLQ QXP UXO GH SURGXVH VDX P UIXUL GDX -15% din cifra de afaceri ]RQD & GHFL GRX VXEJUXSH FDUH GDX PDL SX LQ GH MXP WDWH din cifra de afaceri dar FDUH FRQFHQWUHD] PDMRULWDWHD SURGXVHORU comercializate. $FHDVW FXUE WHRUHWLF DUH YDORDUH DWW VWDWLVWLF FkW L LQGLFDWLY 
VH FRPSDU FX FHD WHRUHWLF L VH GHSULQG FRQFOX]LLOH

$VWIHO FXUED UHDO

respective. 2.9. Metode ale cercet rii opera ionale

QXPHURL IDFWRUL FDUH WUHEXLH DYX L vQ YHGHUH  &ODVLILFDUH 6H XWLOL]HD] vQ DGRSWDUHD GHFL]LLORU vQ FD]XO vQ FDUH LQWHUYLQ PHWRGH DOH FHUFHW ULL RSHUD LRQDOH GHWHUPLQLVWH SURJUDPDUH OLQLDU 

programare dinamic , teoria deciziei, teoria jocurilor, metoda drumului critic);

PHWRGH SUREDELOLVWLFH /DQ XULOH 0DUNRY SURFHVHOH 3RLVVRQ WHRULD ILUHORU GH DWHSWDUH PHWRGD 3HUW

metode simulative (metoda Monte Carlo, modelul dinamic al VLPXO ULL JHVWLRQDUH.

2.10. Metoda analizei regresionale

6H XWLOL]HD] vQ FD]XO UHOD LLORU GH WLS VWRFDVWLF GH WLS OLQLDU KLSHUEROLF SDUDEROLF H[SRQHQ LDO

2.11. Metodele sociologice

&X DMXWRUXO DFHVWRU PHWRGH VH SXQ vQ HYLGHQ IDFWRULL LQGLUHF L VDX  L HILFLHQW 0HWRGHOH

cauzele

SUH]XPWLYH FHHD FH FRQGXFH OD RE LQHUHD GH LQIRUPD LL GH QXDQ SHQWUX UHDOL]DUHD XQXL GLDJQRVWLF FRUHFW

HVHQ LDOH

sociologice cele mai utilizate n analiza microeconomic chestionarului L cea a interviului. 1.5. Interpretarea rezultatelor
'XS IDFWRULORU FRPHQVXUDUHD FXDQWLILFDUHD HFRQRPLF VH LQIOXHQ HORU LQWHUSUHWHD]

sunt metoda

HOHPHQWHORU UH]XOWDWHOH

VDX vQ

DVXSUD

UH]XOWDWXOXL

IXQF LH GH VHPQLILFD LD ORU HFRQRPLF

1.6 Generalizarea sau evaluarea rezultatelor -un ansamblu coerent a concluziilor rezultate din studiul factorial-cauzal al fenomenelor;
VH XWLOL]HD] vQ UDSRUWXO GH DQDOL]  VWXGLLOH GH IH]DELOLWDWH L GH HYDOXDUH HWF SUHPLV D HIHFWX ULL DQDOL]HL $FHDVWD UHSUH]LQW R PHWRG FDOLWDWLY GH UHXQLUH vQWU

1.3.4 Sistemul de infRUPD LL economice

,QIRUPD LD UHSUH]LQW  $QDOL]D PDWHULD VH

SULP SH

GH

ED]

SHQWUX L

DQDOL]D OD

economico-ILQDQFLDU

ED]HD]

LQIRUPD LL

IXUQL]HD]

UkQGXO HL LQIRUPD LL QHFHVDUH vQ SURFHVXO PDQDJHULDO

prRYLQH GLQ GRX VXUVH LPSRUWDQWH3: 1. Surse interne ntreprinderii SULQFLSDOHOH LQIRUPD LL LQWHUQH
,QIRUPD LD HFRQRPLF VSHFLDO FRQWXO ILQDQFLDUH GH SURILW VH L RE LQ GLQ L GRFXPHQWHOH DQH[H $OWH GH VLQWH]  SLHUGHUL VXUVH LQWHUQH

vQ

ELODQ XO VXQW

contabilitatea de gestiune, contractul de management, programele de IDEULFD LH QRUPHle OHJLVOD LD ILVFDO L HFRQRPLF etc. 2. Surse externe ntreprinderii  FXP DU IL LQIRUPD LL SULYLQG
FRQMXQFWXUD SLH HL LQWHUQH L LQWHUQD LRQDOH UDWD LQIOD LHL GLQDPLFD

01LFXOHVFX  'LDJQRVWLF JOREDO VWUDWHJLF  (GLWXUD (FRQRPLF

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PIB, rata do-bnzii,

SUH XO

UHVXUVHORU

HWF

SHUIRUPDQ H

DOH

FRQFXUHQ HL SURJUHVXO WHKQLF vQ UDPXUD UHVSHFWLY  ,QIRUPD LLOH VXQW

asigurate prin: reviste, cotidiene, magazine, periodice;

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centre de documentare, breveWH GH LQYHQ LL

RUJDQLVPH IXUQL]RDUH GH LQIRUPD LL GH VLQWH] DJHQ LL UHJLRQDOH L LQGXVWULH  DJHQ LL

de informare

WLLQ LILF

L WHKQLF  FDPHUH GH FRPHU

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&HULQ HOH FDUH WUHEXLH V

ILH UHVSHFWDWH GH LQIRUPD LH VXQW XWLOLWDWHD YDORDUHD LQIRUPD LHL L

exactitatea, profunzimea, vechimea sau vrsta costul ei.

 6LVWHPH RUJDQL]D LRQDOH DOH

DFWLYLW

LL

GH

DQDOL]

economico-ILQDQFLDU
([LVW DQDOL] SXWHUQLFH PDL PXOWH SRVLELOLW vQ IXQF LH ORU GH XQ vQ FDGUXO L GH RUJDQL]DUH L UHDOL]DUH D DFWLYLW VFRSXO XUP ULW L GH VXELHFW GH ) FRPSDUWLPHQW VSHFLDOL]DW LL GH HFRQRPLF GH LQ

irmele

DQDOL]

economico-financiDU D F UHL UHVSRQVDELOLWDWH HVWH GH D HIHFWXD DQDOL]H economice pe probleme, studii utilizate n practica managerial FXUHQW VDX de a efectua diagnostice globale. n cadrul firmelor mici care nu dispun de compartimente specializate
GH FRPSDUWLPHQW IXQF LRQDO $FWLYLWDWHD FRQVW ILQDQFLDU GH DQDOL]  DFWLYLWDWHD GHVI XUDW

, SH SUREOHPHOH FDUH LQWU

GH

GH

DQDOL]

HFRQRPLF

HVWH

FRPSDUWLPHQWXO

vQ FRPSHWHQ D DFHVWRUD GH DQDOL]

UHDOL]DW

GH

ILHFDUH

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vQ UHDOL]DUHD GH UDSRDUWH GH GLDJQRVWLFDUH SH SUREOHPH vQ VFRSXO SUH]HQW ULL vQ FDGUXO HGLQ HORU FRQVLOLLORU DGXQDUHD DF LRQDULORU GLDJQRVWLFH JOREDOH vQ LORU vQ IXQF UHVSHFWLY

DQDOL]D SH ED]

GH ELODQ

DGPLQLVWUD LH

cazXO H[LVWHQ HL GLVIXQF LRQDOLW

RUJDQLVPHOH SURPRYDUHD FUHDWH GH VSHFLDO

ionarea ntreprinderii.
XQRU SUREOHPH OHJDWH GH

De asemenea, pot efectua analize tematice sau de ansamblu,

QRL SURGXVH SHQWUX L VWXGLL GH IH]DELOLWDWH VWXGLHUHD VROX LRQDUHD FRQFXUHQ HL H[WLQG

restrngerea unor actLYLW

erea sau

etc.

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RDU

DFWLYLW

L GH DQDOL]  PRGXO L GH VWDELOLUH DFRUG ULL D

VWDWXOXL FDUH VSHFLDO FX

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ED]HL GH LPSR]LWDUH L GH UHVSHFWDUH D OHJLVOD LHL vQ YLJRDUH

unit

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GH

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evaluare etc.
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1. 2. 3. 4.

'HILQL L DQDOL]D HFRQRPLFR ILQDQFLDU

(QXPHUD L SULQFLSDOHOH WLSXUL GH DQDOL]

-financiare. ?

&DUH HVWH GHRVHELUHD GLQWUH DQDOL]D FDQWLWDWLY 'HILQL L SURFHVXO GH DQ

L FHD FDOLWDWLY

aliz economico-ILQDQFLDU

L HQXPHUD L HWDSHOH

acesteia. 5.
'D L H[HPSOH GH IDFWRUL GH LQIOXHQ D IHQRPHQHORU HFRQRPLFH GXS

diverse criterii de clasificare a acestora. 6.

3UH]HQWD L UHOD LL GLQWUH UH]XOWDW L IDFWRUL L LGHQWLILFD L FRQ LQXWXO

acestora. 7. Care este rolul analizei n eYDOXDUHD economico-financiare ale ntreprinderii? 8. 9.

(QXPHUD L SULQFLSDOHOH PHWRGH GH DQDOL] Q FH FRQVW FRPSDUD LD FD PHWRG L UHJODUHD SHUIRUPDQ HORU

FDOLWDWLY  FDOLWDWLY

GH DQDOL]

? ?
FDQWLWDWLY

10. Care sunt cele mai utilizatH PHWRGH GH DQDOL] 11. ExpliFD L VFRSXO XWLOL] ULL a fenomenelor economice.
LQGLFLORU FD

FDQWLWDWLY GH

PHWRG

DQDOL]

12. ,QGLFD L FHO SX LQ WUHL LQGLFDWRUL GH HILFLHQ 13. 'D L

H[HPSOH GH UDWH XWLOL]DWH vQ DFHV SUH]HQWD L DYDQWDMXO XWLOL] ULL

HFRQRPLF 

DQDOL]D HFRQRPLFR-ILQDQFLDU L tora comparativ cu indicatorii

H[SULPD L vQ P ULPL DEVROXWH

14. Pentru FH VH XWLOL]HD]

PHWRGD VFRULQJ" 'D L H[HPSOH GH PRGHOH XWLOL]DWH

SH SODQ QD LRQDO L LQWHUQD LRQDO

15. Q FH FRQGL LL VH XWLOL]HD]

PHWRGD VXEVWLWXLULORU vQ ODQ

16. (QXPHUD L UHJXOLOH PHWRGei iter 17. 6WDELOL L

UH]XOWDW UHOD LLOH GH HFRQRPLF H[SULPDWH

ULL VXEVWLWXLULORU vQ ODQ  D LQIOXHQ HORU IDFWRULORU vQ

FXDQWLILFDUH vQ

asupra unui
XWLOL] ULL

P ULPL

DEVROXWH

FD]XO

PHWRGHL LWHU ULL

.
ULL

18. Care sunt limitele PHWRGHL LWHU 19. Cnd se utilizeaz

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D PHWRGHL $%& 3DUHWR UH]XOWDWHORU FD PHWRG GH

PHWRGD EDODQ LHU

20. ([SOLFD L FRQ LQXWXO L XWLOLWDWHD SUDFWLF 21. Q

FH FRQVW JHQHUDOL]DUHD VDX DQDOL]D FDOLWDWLY

HYDOXDUHD

22. (QXPHUD L SULQFLSDOHOH VXUVH GH LQIRUPD LL XWLOL]DWH SHQWUX HIHFWXDUHD analizei economico-financiare. 23. &DUH VXQW SULQFLSDOHOH PRGDOLW L GH RUJDQL]DUH economico-ILQDQFLDU vQWU-o ntreprindere.
D DFWLYLW LL GH DQDOL]

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rui agent economic, calea de multiplicare a averii

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a) Cifra de afaceri (CA)

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icii.
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4I

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Vasile Robu, Nicolae Georgescu 2000.


  
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      !"$# # "$# %&#'"(*)$+, -. /

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LD FUHDW 4H

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productive ntr-R SHULRDG

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3URGXF LD H[HUFL LXOXL HVWH IRUPDW SURGXF LHL VWRFDWH L SURGXF LD UHDOL]DW

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DOH DQDOL]HL DFWLYLW

LL GH SURGXF LH

DOH

DQDOL]HL

DFWLYLW

LL

GH

SURGXF LH

comercializDUH VH UHIHU

&DUDFWHUL]DUHD DFWLYLW

LL GH SURGXF LH L FRPHUFLDOL]DUH

$QDOL]D HYROX LHL LQGLFDWRULORU YDORULFL SH ED]D LQGLFLORU

Analiza raportului static dintre principalii indicatori; Analiza raportului dinamic dintre indicatorii valorici. SurseOH LQIRUPD LRQDOH XWLOL]DWH VXQW &RQWXO GH SURILW L SLHUGHUH &33 %XJHWXO GH YHQLWXUL L FKHOWXLHOL %9& (YLGHQ D FRQWDELO FXUHQW 
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resupune parcurgerea

FRPSDUDUHD UH]XOWDWHORU HIHFWLYH FX RELHFWLYHOH SUHY ]XWH vQ %9& L FX UH]XOWDWHOH SHULRDGHL SUHFHGHQWH

o determinarea gradului de ndeplinire a obiectivelor; o identificarea cauzelor care au generat anumite abateri; o stabiOLUHD P VXULORU SHQWUX UHGUHVDUHD DFWLYLW LL abaterilor negative. Exemplu: 6H FRQVLGHU vQWUHSULQGHUHD 6LJPD 6$ FDUH
FRPHUFLDOL]HD] FRQIHF LL 'DWHOH QHFHVDUH DFWLYLW LL VXQW

vQ

FD]XO

SURGXFH L vQ

VLQWHWL]DWH

tabelul 2.1.

Tabel nr. 2.1 - mil.lei

Nr. crt. 1. 2. 3. 4. Indicatori
3URGXF LD H[HUFL LXOXL 3URGXF LD PDUI IDEULFDW

Simbol Qe Qf CA Qa

An Precedent (0) 700500 680000 650000 340000

An curent Prev Realizat (p) (1) 750000 690000 670000 345000 820000 715000 680000 380000

Indici % P/0 107,06 101,47 103,07 101,47 1/0 117,05 105,14 104,61 111,76 1/P 109,33 103,62 101,49 110,14

Cifra de afaceri Valoarea

DG XJDW

1RW

: ,QGLFDWRULL XWLOL]D L DX IRVW GHIODWD L

F WRDWH YDORULOH SUHYL]LRQDWH DOH LQGLFDWRULORU D DQXOXL SUHFHGHQW IDSW FH

Concluzii:
6H FRQVWDW VXSHULRDUH

u fost
F

P ULPLORU

HYLGHQ LD]

VRFLHWDWHD L D SURSXV R H[WLQGHUH D DFWLYLW

LL HFRQRPLFH Valorile efective au devansat valorile previzionate, deci societatea L-D vQGHSOLQLW LQWHJUDO RELHFWLYHOH $FHDVW HYROX LH D Lndicatorilor
SRDWH IL H[SOLFDW SULQ FDX]H LQWHUQH LVDX H[WHUQH DOH PHGLXOXL

economic al ntreprinderii. Cauze externe pot fi considerate: diminuarea FRQFXUHQ HL VDX

VRFLHW LL DQDOL]DWH DSDUL LD XQRU QRL FOLHQ L

FRQVROLGDUHD

SR]L LHL

SH

SLD

FUHWHUHD FHUHULL SHQWUX SURGXVH

le ntreprinderii analizate;

UHGXFHUHD FRVWXULORU GH DFKL]L LH OD PDWHULLOH SULPH HWF

Cauze interne pot fi considerate: reducerea consumurilor specifice;

vPEXQ W LUHD JUDGXOXL GH XWLOL]DUH D FDSDFLW LL PXQFLL LL GH SURGXF LH FUHWHUHD SURGXFWLYLW

retehnologizarea sau modernizarea mijloacelor fixe etc.

 2 DQDOL] SHUWLQHQW VH SRDWH UHDOL]D DWXQFL FkQG VH GLVSXQH LL DWkW vQ FHHD FH SULYHWH

1RW

HIHFWLY GH LQIRUPD LL SULYLQG DFWLYLWDWHD VRFLHW PHGLXO LQWHUQ FkW L FHO H[

tern.

2.1.3.2 Analiza indicatorilor valorici pe baza indicilor

,QGLFHOH H[SULP ED]D GH FRPSDUD LH  XQ UDSRUW SURFHQWXDO vQWUH GRX P ULPL DOH DFHOXLDL  LDU QXPLWRUXO LQGLFDWRU GLQWUH FDUH QXP U WRUXO HVWH YDORDUHD FXUHQW

n cazul analizeL DFWLYLW

YDORULFL UHIOHFW FRUHOD LL

LL GH SURGXF LH L FRPHUFLDOL]DUH LQGLFDWRULL DWXQFL FkQG vQUHJLVWUHD] XUP WRDUHOH

R VLWXD LH QRUPDO

1. Indicele cifrei de afaceri ,QGLFHOH SURGXF LHL IDEULFDWH ICA ,Qf

,QWHUSUHWDUHD DFHVWHL FRUHOD LL HVWH XUP WRDUHD  'DF ,CA vQWUH GLQDPLFD VWRFXULORU GH SURGXVH ILQLWH L GLQDPLFD ULWPXO OLYU ULORU  'DF ,CA > IQf DWXQFL VH vQUHJLVWUHD] R UHGXFHUH D produse finite n periRDGD DQDOL]DW ID GH ED]D GH FRPSDUD LH VWRFXULORU GH

= IQf

DWXQFL VH FRQVWDW

PHQ LQHUHD SURSRU LRQDOLW

LL

 ,QGLFHOH SURGXF LHL IDEULFDWH ! ,QGLFHOH SURGXF LHL H[HUFL LXOXL ,QHJDOLWDWHD HYLGHQ LD]

IQf > IQe

UHGXFHUHD VWRFXULORU GH SURGXF LH vQ FXUV GH

H[HFX LH L D FRQVXPXULORU LQWHUQH  ,QGLFHOH YDORULL DG XJDWH ! ,QGLFHOH SURGXF LHL H[HUFL LXOXL &RUHOD LD H[SULP

IVA > IQe

UHGXFHUHD SRQGHULL FRQVXPXULORU SURYHQLWH GH OD

WHU L vQ SURGXF LD H[HUFL LXOXL

.
F D GHL V D SUHYL]LRQDW R FUHWHUH D

'LQ WDEHOXO QU  VH REVHUY  DIDFHUL  HIHFWLY R SURGXF LD FUHWHUH IDEULFDW D

cifrei de afaceri ntr-un ritm supeULRU

UH]XOWkQG

SURGXF LHL GHYDQVDW GH

IDEULFDWH vQ ILQLWH

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! GH 

GLQDPLF

VWRFXULORU

SURGXVH

103,62%).
3URGXF LD H[HUFL LXOXL D GHYDQVDW FD ULWP SURGXF LD IDEULFDW FUHVFXW FRQVXPXULOH LQWHUQH L VWRFXULOH GH SURGXF LH QHWHUPLQDW

i au



> 103,62%).
5LWPXO LQIHULRU  FHOXL GH FUHWHUH SUHYL]LRQDW SHQWUX SHQWUX YDORDUHD DG XJDW

a fost
  D

SUHYL]LRQDW

SURGXF LD

H[HUFL LXOXL



 SUREDELO GDWRULW

DQWLFLS ULL XQRU FRQVXPXUL PDWHULDOH PDL PDUL HIHFWLY GLQDPLFD YDORULL DG XJDWH   vQUHJLVWUkQGX

GHFkW vQ DQXO SUHFHGHQW vQV IRVW VXSHULRDU

GLQDPLFLL SURGXF LHL H[HUFL LXOXL 

-se

R UHGXFHUH D SRQGHULL FKHOWXLHOLORU PDWHULDOH vQ WRWDO SURGXF

ie.

2.1.3.3 Analiza raportului static dintre indicatorii valorici

HYROX LHL HOHPHQWHORU FRPSRQHQWH DOH FX VHPQLILFD LH vQ DQDOL]D DFWLYLW

Scopul unei astfel de analize este de a oferi LQIRUPD LL DVXSUD indicatorilor valorici 5HOD LLOH VWDWLFH
LL GH SURGXF LH L FRPHUFLDOL]DUH VXQW 5DSRUWXO GLQWUH FLIUD GH DIDFHUL L YDORDUHD SURGXF LHL IDEULFDWH

YHQLWXUL GLQ DFWLYLWDWHD GH ED]  6LWXD LD VH FRQVLGHU

CA Qf H[SULP

PRGLILFDUHD VWRFXULORU GH SURGXVH ILQLWH L D DOWRU IDYRUDELO

CA pentru 1. Qf

5DSRUWXO

GLQWUH

YDORDUHD

SURGXF LHL

IDEULFDWH

YDORDUHD

SURGXF LHL H[HUFL LXOXL SURGXF LH DSUHFLD] QHWHUPLQDW

Qf Qe FDUDFWHUL]HD]
L D

HYROX LD VWRFXULORU GH LQWHUQ 6LWXD LD VH

FRQVXPXOXL

FD ILLQG IDYRUDELO GLQWUH YDORDUHD

Qf pentru 1. Qe
DG XJDW L YDORDUHD SURGXF LHL PRGLILFDUHD FRQVXPXULORU

5DSRUWXO

H[HUFL LXOXL

Qa Qe HYLGHQ LD]

SURYHQLWH GH OD WHU L 6LWXD LD IDYRUDELO

HVWH FkQG

Qa 1. Qe

Pe baza datelor din tabelul nr. 2.1 s-DX statice (tabelul nr. 2.2) Nr. crt. 1. 2. 3.
5HOD LL VWDWLFH

RE LQXW XUP WRDUHOH UHOD LL

Tabelul 2.2

Simbol

An precedent 0,955 0,970 0,485

An curent 3UHY ]XW Realizat 0,971 0,920 0,460 0,951 0,871 0,463

Cifra de afaceri Productia fabricata Productia fabricata Productia exercitiului

Valoarea adaugata Productia exercitiului

Ca Qf Qf Qe
Qa Qe

&X H[FHS LD SULPXOXL UDSRUW VWDWLF FHOHODOWH YDORUL SUHYL]LRQDWH V VLWXDW VXE QLYHOXO DQXOXL SUHFHGHQW GDWRULW SURGXF LHL IDEULFDWH L D YDORULL DG XJDWH IDSWXOXL F VRFLHWDWHD L

-au -a propus

XQ ULWP GH FUHWHUH D SURGXF LHL H[HUFL LXOXL VXSHULRU ULWPXOXL GH FUHWHUH D

Valorile realizate sunt sub nivelul previzionat n cazul UHOD LLOor CA Qf statice L GDWRULW ULWPXULORU GLIHriWH GH FUHWHUH D FHORU WUHL Qf Qe
LQGLFDWRUL 5H]XOW F ID GH SODQ D FUHVFXW JUDGXO GH YDORULILFDUH D SURGXF LHL IDEULFDWH UHVSHFWLY V vQF vQ IOX[XO WHKQRORJLF

-a redus ponderea stocurilor de produse finite

LL L VWRFXULOH GH SURGXVH DIODWH

L DX FUHVFXW FRQVXPXULOH LQWHUQH DOH VRFLHW ,Qe

> IQf). Ponderea consumurilor materiale SURYHQLWH GH OD WHU L vQ SURGXF LD H[HUFL LXOXL V-D UHGXV ID GH SURJUDP

2.1.3.4 Analiza raportului dinamic dintre indicatorii valorici Raportul dinamic cDUDFWHUL]HD] HYROX LD vQ WLPS D LQGLFDWRULORU valorici prin operarea cu indicii acestora. Principalele tipuri de rapoarte dinamice sunt: 1) 5DSRUWXO vQWUH ULWPXO YkQ] ULORU OLYU ULORU L ULWPXO IDEULFD LHL I CA I ; SLWXD LD HVWH FRQVLGHUDW IDYRUDELO FkQG CA 1 . I Qf I Qf 2)
5DSRUWXO ILQDOL] ULL vQWUH ULWPXO YROXPXOXL WRWDO GH DFWLYLWDWH L ULWPXO HVWH SURGXF LHL

I Qf I Qe

; Cnd

I Qf I Qe

1
LL

VLWXD LD

FRUHVSXQ] WRDUH GHVI XU ULL QRUPDOH D DFWLYLW

3)

*UDGXO GH SUHOXFUDUH D FRQVXPXULORU SURYHQLWH GH OD WHU L

I Qa I Qe

6LWXD LD HVWH SR]LWLY

SHQWUX

I Qa I Qe

1.

8WLOL]kQG GDWHOH WDEHOXOXL QU  UDSRDUWHOH GLQDPLFH VH SUH]LQW

vQ

tabelul 2.3:
Tabelul 2.3

Nr. crt. 1.

Rapoarte dinamice

An Simbol precedent

An curent 3UHY ]XW Realizat 0,994 0,979

Indicele cifrei de afaceri Indicele productiei fabricate

I Ca I Qf

1,015

2.

Indicele productiei fabricate Indicele productiei exercitiului

Indicele valorii adaugate Indicele productiei exercitiului

I Qf I Qe
I Qa I Qe

0,947

0,898

0,948

3.

0,947

0,954

1,007

$FHOHDL FRQFOX]LL YH]L $QDOL]D UDSRUWXOXL VWDWLF GLQWUH LQGLFDWRULL YDORULFL VH GHVSULQG L DQDOL]kQG UDSRUWXO GLQDPLF DO LQGLFDWRULORU YDORULFL

 $QDOL]D SURGXF LHL IL]LFH  $QDOL]D UHDOL] ULL SURJUDPXOXL GH IDEULFD LH SH VRUWLPHQWH

L SH WRWDO VRFLHWDWH

Conceptual,
vQWUHEXLQ DUH

SURGXF LD GLQ

IL]LF

UHSUH]LQW SURGXFWLY LL

WRWDOLWDWHD L GHVWLQDWH

YDORULORU

GH

UH]XOWDWH

DFWLYLWDWHD

FRQVXPXOXL

intermediar sau final.

3HQWUX GHVI XUDUHD QRUPDO RULFH vQWUHSULQGHUH V LQWHUYDO YDULDELO GH vL VWDELOHDVF WLPS SULQ FDUH D DFWLYLW V DLE

economice este necesar ca

F vL YD RQRUD

XQ SURJUDP GH IDEULFD LH DIHUHQW XQXL FHUWLWXGLQHD GH FOLHQ LL V L SH VXEGLYL]LXQL RUJDQL]DWRULFH GH SURGXF LH D DJHQWXOXL FDSDFLWDWHD

LQWHJUDO REOLJD LLOH FRQWUDFWXDOH ID HFKLSH VHF LL HWF L LD vQ FDOFXO

3URJUDPXO GH IDEULFD LH VH UHDOL]HD]

economic.
*UDGXO GH vQGHSOLQLUH D SURJUDPXOXL GH IDEULFD LH SHUPLWH IRUPXODUHD

unor concluzii referitoare la fundamentarea acestuia, la capacitatea factorilor

GH GHFL]LH GH DQWLFLSDUH D DFWLYLW LL vQWUHSULQGHULL 3HQWUX FDUDFWHUL]DUHD JUDGXOXL GH vQGHSOLQLUH D SURJUDPXOXL GH IDEULFD LH VH XWLOL]HD] 

LQGLFLL LQGLYLGXDOL GH vQGHSOLQLUH D SURJUDPXOXL GH SURGXF LH

coeficientul mediu de sortiment;

FRHILFLHQWXO GH QRPHQFODWXU 

Indicii individuali de ndeplinire a programului Coeficientul de sortiment (KS) asupra

QLYHOXO VRFLHW LL FRPHUFLDOH RIHU R

HYLGHQ LD] GH

P VXUD

vQ FDUH SUHYL]LXQLOH DX IRVW UHVSHFWDWH SH VRUWLPHQWH L SH WRWDO SURGXF LH LPDJLQH DQVDPEOX JUDGXOXL GH UHDOL]DUH D SURJUDPXOXL GH IDEULFD LH SH VRUWLPHQWH OD 3ULQFLSLXO GHWHUPLQ ULL DFHVWXL FRHILFLHQW HVWH DO QHFRPSHQV ULL XQRU QHvQGHSOLQLUL GH SURJUDP OD XQHOH VRUWLPHQWH FX GHS LULOH vQUHJLVWUDWH OD DOWH

sortimeQWH Q FRQGL LLOH XQHL FHUHUL QHPRGLILFDWH ID

GH SURGXF LH IDEULFDW OD XQHOH VRUWLPHQWH VHPQLILF

GH SURJUDP GHS LULOH R FUHWHUH D VWRFXULORU D REOLJD LLORU

vQWUHSULQGHULL GHFL R LPRELOL]DUH GH UHVXUVH LDU R QHUHDOL]DUH D SURGXF LHL

planificate la diferite sortimeQWH

0 ULPHD PD[LP DSDU GRX VLWXD LL

SUHVXSXQH R RQRUDUH SDU LDO

FRQWUDFWXDOH FX FRQVHFLQ H QHJDWLYH DVXSUD DFWLYLW

LL HFRQRPLFH YLLWRDUH

D FRHILFLHQWXOXL GH VRUWLPHQW HVWH  Q SUDFWLF

vQ SURSRU LH GH 

a) Ks = 1, vQ XUP WRDUHOH VLWXD LL: a1) cnd SURJUDPXO GH IDEULFD LH



D IRVW UHDOL]DW OD WRDWH VRUWLPHQWHOH

VRUWLPHQWHOH LQGLIHUHQW GH SURSRU LD GH UHDOL]DUH

a 2

FkQG SURJUDPXO GH IDEULFD LH D IRVW UHDOL]DW L GHS LW OD WRDWH

b) Ks < 1, vQ XUP WRDUHOH VLWXD LL: b1) cnd proJUDPXO GH IDEULFD LH D IRVW UHDOL]DW L GHS LW SH WRWDO GDU FHO SX LQ OD XQ VRUWLPHQW QX V-D UHDOL]DW QLYHOXO SUHY ]XW b2 FkQG SURJUDPXO GH IDEULFD LH QX D IRVW UHDOL]DW DWkW SH WRWDO FkW L
SH VRUWLPHQWH LQGLIHUHQW GH SURSRU LD GH QHUHDOL]DUH

RelD LLOH GH GHWHUPLQDUH D FRHILFLHQWXOXL GH VRUWLPHQW VXQW q min p 0 1) K s = q0 p0 g 0 iq g 0 + 2) K s = 100 100 2 3) K s = 1 n care qmin p0
(qp ) q0p0

YDORDUHD SURGXF LHL UHFDOFXODW

vQ OLPLWD SUHYHGHULORU GHWHUPLQDW

prin compararea valorii realizate pe produse cu valoarea

SUHY ]XW L OXDUHD vQ FDOFXO D YDORULL PLQLPH

g0
g 0

= =

SRQGHUHD SRQGHUHD

SUHY ]XW

VRUWLPHQWHORU

OD

FDUH

QX

-a realizat

programul;

SUHY ]XW D VRUWLPHQWHORU OD FDUH V-D UHDOL]DWGHS LW programul; iq = indicele de ndeplinire a prevederilor la sortimentele luate n calcul; (qp) = suma abaterilor negative pe sortimente. 6H FRQVLGHU F vQWUHSULQGHUHD $/)$ DUH FD RELHFW GH GH FRQVWUXF LL 6H FHUH V VH GHWHUPLQH VH LQWHUSUHWH]H VLWXD LD

Exemplu:
DFWLYLWDWH

SURGXF LD

GH PDWHULDOH

JUDGXO GH UHDOL]DUH D SURJUDPXOXL GH IDEULFD LH L V

Nr. crt.

Denumire sortiment

0!12 34156187$5349:; < 6< (mil lei) = qp B&56C D: ? Realizat
4500 3750 3000 3750 15000 4800 3200 4800 3200 16000

Iq (%)

Abateri negative E qp -550 -550 -1100

B 5349:; < 1 F 56;12 ;:2 1 ?

n limita prevederilor = qminp0 4500 3200 3000 3200 13900

Tabelul 2.4

>? 5:; ? :51@7539A:; < 6< BF56C D: ?

30 25 20 25 100 (%) Realizat 30 20 30 20 100

1. 2. 3. 4. 5.

A B C D TOTAL

106,67 85,33 1600 85,33 106,67

Coeficientul de sortiment aferent bazei de date precedente este: q min p 0 13900 1) K s = = = 0,9267 15000 q0 p0 2) K s =
g 0 iq 100 2 + 25 85,33 + 25 85,33 30 + 20 g0 = + = 0,9267 100 100 100 2

3) K s = 1

(qp ) 1100 =1 = 0,9267 15000 q0p0

SH VRUWLPHQWH SURSRU LD GH UHDOL]DUH D IRVW GH  IDSWXO F GH  $FHDVW

'HL OD QLYHOXO vQWUHSULQGHULL SURJUDPXO GH IDEULFD LH D IRVW GHS LW

(106,67%),

VLWXD LH HYLGHQ LD] &RHILFLHQWXO

vQ FD]XO LQH[LVWHQ HL VWRFXULORU VRFLHWDWHD QX L

SRDWH RQRUD LQWHJUDO REOLJD LLOH FRQWUDFWXDOH FX EHQHILFLDULL VRUWLPHQW UHIOHFW SURSRU LD G

e realizare a

programului la unele sortimente.

,QWHUSUHWDUHD YDORULF VH IDFH GLIHUHQ LDW vQ IXQF LH GH VLWXD LH GDF

DEDWHUHD GH OD SURJUDP HVWH IRDUWH PDUH OD XQ VLQJXU VRUWLPHQW VDX GDF YDORDUHD vQUHJLVWUDW DVSHFWH DQDOL]D GH FRHILFLHQW HVWH HIHFWXO QHUHDOL] ULL SU FRPSOHWDW FX GHWHUPLQDUHD

ogramului la

PDL PXOWH VRUWLPHQWH GDU vQ SURSRU LL PDL PLFL 3HQWUX D GHOLPLWD DFHVWH HVWH QRPHQFODWXU .n), FDUH DUDW QXP respectat programul de fabULFD LH 5HOD LD GH FDOFXO HVWH

coeficientului de UXO GH SURGXVH VRUWLPHQWH OD FDUH QX V-a

Kn =1

n N

n care: N = QXP n QXP

UXO WRWDO GH SURGXVHVRUWLPHQWH H[LVWHQWH vQ QRPHQFODWRU UXO GH SURGXVHVRUWLPHQWH OD FDUH QX V

-a realizat programul de

IDEULFD LH

n cazul considerat K n = 1
$FHDVW YDORDUH DUDW F SUHYL]LXQLORU OD 

2 = 0,5 4

SURGXF LD

QX

-a realizat conform

GLQ VRUWLPHQWHOH DQDOL]DWH UHVSHFWLY % L ' DPEHOH FX

indici de 85,33%).
 $QDOL]D VWUXFWXULL SURGXF LHL 5HDOL]DUHD VRUWLPHQWH DFHVWHLD DEDWHUL HYLGHQ LDWH SURJUDPXOXL GH OD GH SURGXF LH JHQHUHD] SRQGHULORU vQ SH SURSRU LL L OH FDUH G

iferite pe
VWUXFWXUD GLIHULWH

SURJUDP

PRGLILF UL

vQ

SULQ PRGLILFDUHD

GH LQ

VRUWLPHQWH GLQ QRPHQFODWRUXO GH IDEULFD LH vQ YROXPXO WRWDO GH DFWLYLWDWH

Procedeele specifice de DQDOL] D VWUXFWXULL SURGXF LHL VXQW SRQGHULOH JUHXW LOH VSHFLILFH FRHILFLHQWXO PHGLX GH VWUXFWXU DVRUWLPHQW
&RPSDUDUHD SRQGHULORU HIHFWLYH FX FHOH SURJUDPDWH VRUWLPHQW DUDW GH SURGXF LH &DUDFWHUL]DUHD UHDOL]HD] UHOD LLOH LQWHQVLW LL PRGLILF ULL VWUXFWXULL .st P VXUD vQ FDUH V D UHVSHFWDW VWUXFWXUD LQL LDO

DOH

ILHF UXL

D SURJUDP SURGXF LHL

ului
VH

SH ED]D FRHILFLHQWXOXL PHGLX GH VWUXFWXU

) determinat prin

1) K st = 1

g 100
D SRQGHULL SH VRUWLPHQWHSU

unde: J DEDWHUHD QHJDWLY

oduse

2) K st =

Pr oductia efectiva executata in contul structurii prevazute Productia efectiva recalculata

8WLOL]DUHD PRGHOXOXL  LPSXQH SDUFXUJHUHD XUP WRDUHORU HWDSH D UHFDOFXODUHD SURGXF LHL UHDOL]DWH FRQIRUP VWUXFWXULL SUHY ]XWH ILH SULQ DSOLFDUHD SRQGHULL SUHY ]XWH D ILHF UXL VRUWLPHQW OD YDORDUHD WRWDO UHDOL]DW ILH SULQ vQPXO LUHD LQGLFHOXL PHGLX GH UHDOL]DUH D GH SURGXF LH FX YDORDUHD UHDOL]DWH SUHY ]XW vQ FRQWXO D ILHF UXL VWUXFWXULL SURJUDPXOXL

sortiment.
E GHWHUPLQDUHD YDORULL SURGXF LHL

programate prin compararea valorii efective pe fiecare sortiment cu cea UHFDOFXODW  OXkQGX-VH vQ FDOFXO YDORDUHD PLQLP 
([HPSOX 'DWHOH GH ED] VXQW SUHOXDWH GLQ WDEHOXO SUHFHGHQW

Nr. crt.

Denumire sortiment

G!HI J4HKLH8M$KJ4NOP Q LQ TU VW XY4Z

4500 3750 3000 3750 15000
ED]D

RS KOAP S O$KH@M$KJ4NOP Q LQ TU VW XY4Z

30 25 20 25 100
GH

Realizat 4800 3200 4800 3200 16000

Realizat 30 20 30 20 100

[!Q \ LKL] H |^ g|
5 5 10

Tabelul 2.5 -J4mil _&K NOP lei QH -

M Valoarea $ KJ4NOP Q LQ
recalculate 4800 4000 3200 4000 16000
GH

L`4LPO S H S

n contul

M structurii $ KLa b O S L
4800 3200 3200 3200 14400
VWUXFWXU

1 2 3 4 5

A B C D TOTAL
3H

UHOD LLORU

GHWHUPLQDUH

FRHILFLHQWXO

vQUHJLVWUHD]

XUP WRDUHOH YDORUL

10 = 0,9 100 14400 K st = = 0,9 16000 K st = 1

Q FRQGL LLOH QHUHVSHFW ULL FRPHUFLDO VLWXD LH HVWH SURJUDPXOXL HYLGHQ LDW SURGXF LHL GH YDORDUHD IDEULFDWH VXEXQLWDU SH D

sortimente, sociHWDWHD sortimentale. $FHDVW

VWUXFWXU HVWH  L

D vQUHJLVWUDW L R PRGLILFDUH D VWUXFWXULL

FRHILFLHQWXOXL GH VWUXFWXU

(K st = 0,9) .9DORDUHD

PD[LP

D FRHILFLHQWXOXL GH

HYLGHQ LD]

realizarea structurii sortimentale conform

programului.

 $QDOL]D FRUHODW

D FRHILFLHQWXOXL GH VWUXFWXU

FX FRHILFLHQWXO

de sortiment
&RPSDUDUHD VWUXFWXU YDORULORU FRHILFLHQWXOXL GH VRUWLPHQW L D FHOXL GH SRDWH FRQGXFH OD XUP WRDUHOH FRPELQD LL

a)

Ks = 1 Kst < 1 Iq > 100 Ks < 1 Kst < 1 Iq  Ks = 1 Kst = 1 Iq  Ks < 1 Kst = 1 Iq < 100

Q DFHDVW

VLWXD LH SURJUDPXO GH SURGXF LH D IRVW

UHDOL]DW LVDX GHS LW OD WRDWH VRUWLPHQWHOH GDU vQ SURSRU LL GLIHULWH Q DFHVW FD] OD SURJUDPXO FHO SX LQ GH IDEULFD LH QX V

b)

vQGHSOLQLW

XQ

VRUWLPHQW

-a iar

SURSRU LLOH GH UHDOL]DUH GLIHU

GH OD XQ VRUWLPHQW

la altul. c)
$FHVW FD] HVWH R VROX LH WHRUHWLF F SURJUDPXO GH SURGXF LH V VRUWLPHQWHOH vQ DFHHDL SURSRU LH L HYLGHQ LD]

-a realizat la toate

i1 = i2 = ... = in = IQ d)
(VWH R VROX LH WHRUHWLF FH VHPQLILF IDSWXO F SURJUDPXO GH SURGXF LH QX D IRVW UHDOL]DW OD WRDWH VRUWLPHQWHOH vQ DFHHDL SURSRU LH

i1 = i2 = ... in = IQ < 100 n cazul practic prezentat

UH]XOW  F

SURJUDPXO QX D IRVW UHDOL]DW OD WRDWH VRUWLPHQWHOH

Ks = 0,9267 Kst = 0,9 Iq = 106,67%

GLQ WRWDO VRUWLPHQWH Q FRQGL LLOH vQ FDUH ULORU F WUH VROLFLWDQ L VWUXFWXULL SURGXF LHL VH YD

, UHVSHFWLY % L ' FHUHUHD QX V-a modificat,

vQ WR L LQGLFDWRULL

vQWUHSULQGHUHD VH DIO

vQ LPSRVLELOLWDWHD GH D UHVSHFWD FODX]HOH FRQWUDFWXDOH UHIOHFWD

privind voluPXO OLYU

0RGLILFDUHD

economico-ILQDQFLDUL GHWHUPLQD L SH ED]D DFHVWHLD

 5DWD HILFLHQ HL FRVWXULORU DIHUHQWH H[SORDW ULL

q1c0 1000 q0 c0 1000 q1 p0 q0 p0

GHVWLQDW YkQ] ULL

unde:
T F S SURGXF LD RE LQXW

FRVWXO XQLWDU GH SURGXF LH SUH XO PHGLX GH YkQ]DUH

 3URILWXO GLQ H[SORDWDUH DIHUHQW SURGXF LHL IDEULFDWH

Q f1 pr pr0 q1p1 pr pr0 ,

unde: Qf = SURGXF LD IDEULFDW GHVWLQDW YkQ] ULL pr = profLWXO OD  OHX YHQLWXUL GLQ H[SORDWDUH VDX OD  OHX SURGXF LH YkQGXW ; pr = SURILWXO UHFDOFXODW vQ IXQF LH GH VWUXFWXUD HIHFWLY D SURGXF LHL q1c 0 respectiv: pr = 1 q1p 0
 (ILFLHQ D DFWLYHORU GH H[SORDWDUH

Qf1 pr pr 0 , AE1 Qf1 pr pr 0 , AF1 Qf1 pr pr 0 , AC1

unde:

AE = active de exploatare;

 (ILFLHQ D DFWLYHORU IL[H

unde:

AF = active fixe;

 (ILFLHQ D DFWLYHORU FLUFXODQWH

unde:

AC = active circulante;

 5DWD UHQWDELOLW

q1 p 0 q0 p0 1100 1100 q1c 0 q0 c0 1 q c q1c 0 100 1 0 0 100 q1 p0 q0 p0

LL FRPHUFLDOH

LL UHVXUVHORU FRQVXPDWH

 5DWD UHQWDELOLW

 (ILFLHQ D FDSLWDOXOXL SHUPDQHQW

Qf1 pr pr 0 , K per1

unde:

K per = capitalul permanent

 $O L LQGLFDWRUL GH SHUIRUPDQ



$QDOL]D

FDOLW

LL

SURGXF LHL

LPSOLFD LLORU

HFRQRPLFR

financiare ale acesteia Calitatea

WRWDOLWDWHD PEXQ W RULF UHL VRFLHW L UHSUH]LQW JUDGXO WHKQLFH vQ FDUH XQ SURGXV VRFLDOH VDX L VHUYLFLX SULQ FDUDFWHULVWLFLORU LUHD FDOLW GHRDUHFH HFRQRPLFH

de exploatare,
HFRQRPLFR

satisface nevoia pentru care a fost creat.

LL SURGXF LHL UHSUH]LQW SHUPLWH FUHWHUHD XQ RELHFWLY HVHQ LDO DO SHUIRUPDQ HORU

ILQDQFLDUH D FRPSHWLWLYLW

LL L FRQVROLGDUHD SR]L LHL GH SLD LL SURGXF LHL VH UHDOL]HD] L GH DQDOL] ILLQG

D vQWUHSULQGHULL

&DUDFWHUL]DUHD FDOLW

SULQ XWLOL]DUHD XQXL

VLVWHP GH LQGLFDWRUL SULQFLSDOHOH PRGDOLW

a)

&RHILFLHQWXO HFKLYDOHQ HL WHKQLFH VDX DO SDUDPHWUXOXL XQLF SH EHQHILFLDU

prin

FDUH vQVXLULOH FDOLWDWLYH DOH XQXL SURGXV VXQW UHGXVH OD XQD VLQJXU  DFHHD FDUH LQWHUHVHD]

b) Dinamica refuzurilor din partea beneficiarilor prin determinarea

SRQGHULL SURGXVHORU UHIX]DWH vQ WRWDOXO SURGXF LHL OLYUDWH

c)

'LQDPLFD

UHFODPD LLORU

GLQ

SDUWHD

EHQ

eficiarilor

prin

GHWHUPLQDUHD QXP UXOXL GH UHFODPD LL VDX YDORDUHD SURGXVHORU UHFODPDWH

ntr-R SHULRDG GH WLPS d) 'LQDPLFD FKHOWXLHOLORU

H[SULPDW SURGXF LH FD VXP DEVROXW

FX UHPHGLHULOH vQ WHUPHQXO GH JDUDQ LH

VDX FD QLYHO FH UHYLQH OD  PLOLRQ  PLOLDUG OH VSHFLILFL GH ILHF UHL

e)
H[

Indicatorii

tehnico-economici
FRQVXPXO

UDPXUL

UDQGDPHQWXO

LQVWDOD LLORU

FRPEXVWLELO

GXUDELOLWDWHD

gradul de finisare etc.); f) DOWH PRGDOLW L

Q DSUHFLHUHD HILFLHQ HL DFWLYLW R SUH]LQW DQDOL]D FDOLW LL LL HFRQRPLFH R GHRVHELW GLIHUHQ LDWH SH FODVH LPSRUWDQ D GH FDOLWDWH SURGXF LHL

c e f g hi jk.lmhon lp4p f qp rsmt p f uwvrsi x y jlp rp zx lp -{ x rsrlx sf s@k|p4lx jt x i p fFlp4zjf lx si j}~'f x h4rs@jlprp zx l }m44} d h lhf j t x d

Aceasta se poate realiza pe produs sau la nivel de ntreprindere.

3ULQFLSDOHOH FULWHULL FDUH VWDX OD ED]D JUXS ULL SURGXVHORU SH FODVH de calitate sunt: calitatea materiei prime folosite; procedeele tehnologice utilizate pentru prelucrarea materiilor prime; DEDWHULOH GH OD QRUPHOH LQWHUQH FDUH UHJOHPHQWHD] SDUDPHWULL GH calitate ai produselor respective.

2.3.1 $QDOL]D FDOLW

6H UHDOL]HD] SULQ

LL OD QLYHOXO XQXL SURGXV

: a) coeficientul mediu de calitate K , stabilit conform modelului qiKi gi Ki K= K= sau , 100 qi

()

n care: K = coeficientul mediu de calitate gi VWUXFWXUD SURGXF LHL IDEULFDWH pe clase de calitate Ki = coeficientul clasei de calitate i qi FDQWLWDWHD IDEULFDW GLQ FODVD GH FDOLWDWH L
HFKLYDOHQ 

E FRHILFLHQWXO PHGLX GH FDOLWDWH VWDELOLW SH ED]D FRHILFLHQ LORU GH

K=
n care:
.HL

q i Kei qi

sau

K=

q i Kei , 100

FRHILFLHQWXO GH HFKLYDOHQ vQWUH SUH XO XQLWDU DO SUR

DO FODVHL GH FDOLWDWH L VWDELOLW FD UDSRUW GLQ FODVD GH FDOLWDWH L L SUH XO GH

dusXOXL

YkQ]DUH DO SURGXVXOXL GH FDOLWDWH VXSHULRDU F SURFHGHXO SUH XOXL PHGLX

p=

q i pi pi

(p):

sau

p=

g i pi , 100

n care: pi SUH XO XQLWDU DO SURGXVHORU GLQ FODVD GH FDOLWDWH L

Q FHHD FH SULYHWH SULPHOH GRX

SURFHGHH VLWXD LD HVWH DSUHFLDW YDORUL DSURSLDWH

favorabil cnd coeficientul mediX de 1 (clasa I de calitate).

GH FDOLWDWH vQUHJLVWUHD]

3ULQ LQWHUPHGLXO SUH XOXL PHGLX GH YkQ]DUH FkQG R vPEXQ W LUH D FDOLW LL SURGXF LHL ID

p1 > p 0

VH DVLVW

OD

GH SHULRDGD SUHFHGHQW  vQ FDUH

p1

SUH XO PHGLX DO SHULRDGHL FXUHQWH SUH XO PHGLX DO ED]HL GH FRPSDUD LH

p0

Exemplu
FRPHUFLDOL]HD]

6RFLHWDWHD FDOLW

FRPHUFLDO

$'5,$7,&$

65/

SURGXFH

SURGXVXO ; SH GLYHUVH FODVH GH FDOLWDWH ,QIRUPD LLOH GH ED] LL SURGXF LHL YkQGXWH VXQW SUH]HQWDWH VLQWHWLF vQ VH GHWHUPLQH HYROX LD FDOLW LL OD QLYHO GH

cu privire la analizD produs.

WDEHOXO GH PDL MRV 6H FHUH V

Clasa Cantitate de (Kg) calitate P R 1 Cal. I 40.000 60.500 2 Cal. a II-a 35.000 33.000 3 Cal. a III-a 25.000 16.500 TOTAL 100.000 110.000
XUP WRDUHOH UH]XOWDWH

Nr. crt.

Tabelul 2.6  Canti Structura Indice Valori (%) vnzare de echivalente (Kg) (mil lei) P R lei/Kg echiv. P R P R 40 55 65.000 1 40.000 60500 2.600 3.932,5 35 30 52.000 0,8 28.000 26.400 1.456 1.372,8 25 15 39.000 0,6 15.000 9.900 585 386,1 100 100 x x 83.000 96.800 4.641 5.691,4
D FDOLW LL OD QLYHO GH SURGXV VH RE LQ

$SOLFkQG PRGHOH GH DQDOL]

a) K 0 =

q i0 K i q i0

40.000 1 + 35.000 2 + 25.000 3 = 1,85 100.000

K1 =
K0 =

q i1 K i q i1 g i0 K i

=
=

60.500 1 + 33.000 2 + 16.500 3 = 1,6 sau 110.000

40 1 + 35 2 + 25 3 = 1,85 100 100 g i01 K i 55 1 + 30 2 + 15 3 K1 = = = 1,6 100 100 g i0 K ei 40 1 + 35 0,8 + 25 0,6 b) K 0 = = = 0,83 100 100 K1 = g i1 K ei 100 = 55 1 + 30 0,8 + 15 0,6 = 0,88 100

c) g i 0 p i0 40 65.000 + 35 52.000 + 25 39.000 p0 = = = 53.950 lei / Kg 100 100

p1 =

g i1 p i1 55 65.000 + 30 52.000 + 15 39.000 = = 57.200 lei / Kg 100 100

Q FRQFOX]LH WR L LQGLFDWRULL GHWHUPLQD L SR UHOHY R vPEXQ W LUH D vQ LL ID D GH SURJUDP VLWXD LH DSUHFLDW FHORUODOWH GRX FODVH GH

FDOLW

zitiv. De altfel se poate observa

OD  YD L UH]XOW $FHVW IDSW VH UHIOHFWD SHUIRUPDQ H

GLQ WDEHO F GHIDYRDUHD

D FUHVFXW SRQGHUHD SURGXVHORU GH FDOLWDWHD , GH OD  FDOLWDWH YDORULFL GH

IDYRUDELO DVXSUD WXWXURU LQGLFDWRULORU GHRDUHFH YROXPXO SURGXF LHL YkQGXWH

ate

D FUHVFXW OD FODVD GH FDOLWDWH , XQGH

SUH XO GH GHVIDFHUH HVWH VXSHULRU PHGLHL vQWUHSULQGHULL

 $QDOL]D FDOLW

LL OD QLYHO GH vQWUHSULQGHUH D FDOLW LL

/D QLYHO GH vQWUHSULQGHUH UHOD LLOH GH GHWHUPLQDUH DQDOLWLF

sunt:
D FRHILFLHQWXO PHGLX JHQHUDOL]DW DO FDOLW

Kg =

gi Ki ,
100

LL

n care: gi VWUXFWXUD SURGXF LHL IDEULFDWH SH WLSXUL GH SURGXVH K i = coeficientul mediu de calitate pe produse. b)
Ponderea produselor de
FDOLWDWH VXSHULRDU YDORDUHD WRWDO SH FDOLW L D vQ 9DORDUHD SURGXVHORU GH FDOLWDWH VXSHULRDU

=
9DORDUHD WRWDO D SURGXVHORU

x 100

SURGXVHORU GLIHUHQ LDWH

$SURSLHUHD GH  D FRHILFLHQWXOXL PHGLX JHQHUDOL]DW DO FDOLW R VLWXD LH IDYRUDELO SRQGHUHD SURGXVHORU GH FDOLWDWH L VXSHULRDU

LL UHOHY

SHQWUX DFWLYLWDWHD vQWUHSULQGHULL 9DORDUHD FHOXL GH WUHEXLH V

-al

doilea indicator WRWDO FX SUHSRQGHUHQ

vQ YDORDUHD

D SURGXVHORU GLIHUHQ LDWH SH FDOLW IDSWXO F SURGXVH GH FDOLWDWHD ,

ILH FkW PDL DSURSLDW VL FRPHUFLDOL]HD]

de 100 pentru a eYLGHQ LD Exemplu

VRFLHWDWHD UHDOL]HD]

6RFLHWDWHD $'5,$7,&$ 65/ SURGXFH L FRPHUFLDOL]HD] LL SURGXF LHL YkQGXWH OD QLYHOXO vQWUHSULQGHULL

WUHL WLSXUL GH SURGXVH 'LVSXQkQG GH GDWHOH GLQ WDEHOXO GH PDL MRV VH FHUH V

se analizeze HYROX LD FDOLW

Nr. crt.

Denumire produs A B C

Structura
SURGXF LHL

Coeficientul de calitate pe produs P 1,5 1,7 1,95 x R 1,4 2 1,9 x

Tabelul 2.7 Coeficientul generalizat de calitate

( g i K i / 100)
Kg1 0,49 0,7 0,57 1,53

1 2 3 TOTAL

P 50 30 20 100

R 35 35 30 100

Kg0 0,75 0,51 0,39 1,65

Kgrec 0,525 0,595 0,585 1,705

&RHILFLHQWXO PHGLX JHQHUDOL]D DO FDOLW

50 1,5 + 30 1,7 + 20 1,95 = 1,65 100 100 g i1 K i1 35 1,4 + 35 2 + 30 1,9 Kg1 = = = 1,53 100 100 Kg 0 = = Kg rec =
)D

g i 0 K i0

LL D IRVW GHWHUPLQDW DVWIHO

g i1 K i0 100

35 1,5 + 35 1,7 + 30 1,95 = 1,705 100

GH SURJUDP VRFLHWDWHD D vQUHJLVWUDW R vPEXQ W

ntreprinderii cu 12% Kg = Kg1 Kg 0 .

'LQ SXQFW GH YHGHUH IDFWRULDO DFHDVW  ,QIOXHQ D PRGLILF ULL LL VWUXFWXULL HYROX LH VH H[SOLF DVWIHO SURGXF LH

LUH D FDOLW

LL

i asupra coeficientului

PHGLX JHQHUDOL]DW DO FDOLW

g i =

g i1 K i0 100

g i0 K i0 100

= Kg rec Kg 0 = 1,705 1,65 = 0,055

 ,QIOXHQ D PRGLILF ULL FRHILFLHQWXOXL GH FDOLWDWH SH SURGXV

100 100 Concluzie  Q SHULRDGD FXUHQW crescut ponderea produVHORU % L & OD FDUH
VWUXFWXULL HVWH DSUHFLDW FD QRUPDO

K i =

g i1 K i0

g i1 K i0

= Kg1 Kg rec = 1,53 1,705 = 0,175

ID GH ED]D GH FRPSDUD LH D FRHILFLHQ LL GH FDOLWDWH SUHY ]X L GH VHQVXO LQIOXHQ HL GDF

vQ SURJUDP DX IRVW LQIHULRUL SURGXVXOXL $ L PHGLHL vQWUHSULQGHULL ,QIOXHQ D LQGLIHUHQW

PRGLILFDUHD DFHVWHLD HVWH UH]XOWDWXO RULHQW ULL FHUHULL SRSXOD LHL VSUH DQXPLWH SURGXVH L QX HIHFWXO XQRU GLVIXQF LRQDOLW  REVHUY PDL EXQ FDOLW &RPSDUkQG SULQ vPEXQ W HYROX LD L vQ DFWLYLWDWHD LQWHUQ GH FDOLWDWH SH D VRFLHW SURGXVH LL VH FRHILFLHQWXOXL

HIRUWXO vQWUHSULQGHULL vQ GLUHF LD UHDOL] ULL XQRU SURGXVH GH FDOLWDW LUHD WHKQRORJLLORU GH SURGXF LH

,QIOXHQ D DFHVWXL IDFWRU DVXSUD FRHILFLHQWXOXL PHGLX JHQHUDOL]DW DO LL HVWH GH

 YDORDUH FDUH DQXOHD]

LUHD FDOLW

HIHFWXO QHIDYRUDELO DO VWUXFWXULL

SURGXF LHL & LOH SHQWUX vPEXQ W LL SURGXF LHL YkQGXWH VXQW VSHFLILFH

domeniului de activitate al ntreprinderii, n general recomandndu-se:

UHDOL]DUHD SURGXVXOXL OD SDUDPHWULL SURLHFWD L

utilizarea unor materii prime de calitate

ED]H GH SURGXF LH SHUIRUPDQWH HWF

VXSHULRDU

L D XQRU

2.4 Analiza cifrei de afaceri

 $ERUG UL FRQFHSWXDOH SRDWH IL DERUGDW GH DIDFHUL FD FLIU FLIU GH DIDFHUL GH DIDFHUL XQHL GLQ

Conceptual, cifra de afaceri

WRWDO  FLIU GH DIDFHUL QHW  WRWDO FLIU PDUJLQDO  FLIU VRFLHW L GH DIDFHUL FULWLF OD SUH XULOH

PHGLH

.
UHSUH]LQW VDX WRWDOLWDWHD WRWDO D DIDFHULORU YHQLWXULORU VXPD GH WLPS

Cifra de afaceri
HYDOXDWH GHWHUPLQDW 

&$ SLH HL

RSHUD LXQL FRPHUFLDOH HIHFWXDWH GH R vQWUHSULQGHUH vQWU R SHULRDG

&LIUD GH DIDFHUL QHW

SUH]HQWDUH D VLWXD LLORU ILQDQFLDUH HODERUDW GH &RPLWHWXO SHQWUX 6WDQGDUGHOH GH &RQWDELOLWDWH ,QWHUQD LRQDOH HVWH IRUPDW GLQ SURGXF LD YkQGXW FRQWXULOH

&$n

) conform CadruOXL JHQHUDO GH vQWRFPLUH L

UL GH P UIXUL 

701, 702, 703    L  YHQLWXULOH GLQ YkQ] Cifra de afaceri medie CA - UHIOHFW YHQLWXO produs sau serviciu. CA 5HOD LD GH determinare este CA = , Q unde:
4 YROXPXO IL]LF DO YkQ] ULORU

L YHQLWXUL GLQ VXEYHQ LL GH H[SORDWDUH DIHUHQWH YkQ] ULORU 

( )

RE LQXW SH XQLWDWHD GH

Maria Niculescu @ 4. 4 A

    ,  *m  m4

ntreprinderi (&$ vndute (Q).

&LIUD GH DIDFHUL PDUJLQDO JHQHUDW

&$m

H[SULP

YDULD LD YHQLWXULORU XQHL LL

GH FUHWHUHDVF GHUHD FX R XQLWDWH D FDQWLW

5HOD LD GH FODFX

l este CA m =
LQWHJUDO D

&LIUD GH DIDFHUL FULWLF VH DVLJXU DFRSHULUHD GHYLQ vQFHSH V SURILWDELO 

CA Q &$min) UHSUH]LQW
FKHOWXLHOLORU

QLYHOXO YkQ] ULORU OD FDUH SUDJXO OD FDUH VRFLHWDWHD

5HOD LD GH GHWHUPLQDUH HVWH

CA min =

ChF , 100 Rv
Chv 100 , unde Chv = suma CA

unde: ChF = suma cheltuielilor fixe Rv = rata medie a cheltuielilor variabile, Rv = cheltuielilor variabile

 $QDOL]D HYROX LHL vQ WLPS D FLIUHL GH DIDFHUL $SUHFLHUHD GLPHQVLXQLL DFWLYLW LL HFRQRPLFH D X

nui agent economic

FX DMXWRUXO ODQ  L D

L D PRGLILF ULL DFHVWHLD vQ WLPS HVWH DEVROXW REOLJDWRULH SHQWUX SURFXUDUHD L

asigurarea resurselor viitoare necesare ndeplinirii obiectivelor propuse.

$QDOL]D HYROX LHL vQ WLPS D FLIUHL GH DIDFHUL VH UHDOL]HD] P ULPLORU DEVROXWH LQGLFLORU GH GLQDPLF FX ED] IL[ L vQ ULWPXULORU PHGLL Q FRQGL LLOH XQHL HFRQRPLL GH SLD DSUHFLHUH UHDO LQVWDELOH SHQWUX R

D UH]XOWDWHORU vQWUHSULQGHULL VH LPSXQH FRUHFWDUHD YDORULORU PHGLX DO SUH XULORU vQ VFRSXO HIRUWXO SURSULX DO

curente ale indicatorilor economici cu LQGLFHOH

XQLW LL HFRQRPLFH

HOLPLQ ULL HIHFWXOXL LQIOD LHL IDFWRU H[RJHQ FDUH QX UHIOHFW

Astfel:
&LIUD GH DIDFHUL UHDO VH GHWHUPLQ SH ED]D UHOD LHL

CA r =

CA c , Ip


unde: CAc = cifra de DIDFHUL FXUHQW VWDWLVWLF CAr FLIUD GH DIDFHUL UHDO Ip LQGLFHOH PHGLX DO SUH XULORU

5DWD UHDO

GH FUHWHUH D FLIUHL VH GHWHUPLQ

SH ED]D UHOD LHL

1+ Rc R reala = 1100 , 1 + R p

unde: Rc UDWD GH FUHWHUH D FLIUHL GH DIDFHUL FXUHQWH Rp = rata de creWHUH D SUH XULORU
3HQWUX H[HPSOLILFDUH VH FRQVLGHU GH DIDFHUL HVWH DQDOL]DW F UHL FLIU

FD]XO XQHL VRFLHW GH  DQL

L FRPHUFLDOH D

SH R SHULRDG

.
Tabelul 2.8 N 1180 112,38 168,57 12,38 19,6 634,14 -6,03 -2,44

Nr. crt. 1. 2. 3. 4. 5. 6. 7.

Indicatori Cifra de afaceri sWDWLVWLF PLO OHL

5LWPXO GH FUHWHUH vQ ODQ  D  D &$ FX ED] 5LWPXO GH FUHWHUH IL[   D

N-4 700 700 -

N-3 830 118,57 118,57 18,57 22 680,32 -2,81

Ani N-2 520 110,84 131,42 10,84 9 691,8 1,68

N-1 1050 114,4 150 14,4 17 674,84 -2,45

R (% )
13,94 -

&$ FX ED] &UHWHUHD

DQXDO

cifrei de afaceri (%)

&UHWHUHD SUH XULORU  DQXDO  D

Cifra de afaceri coUHFWDW UHDO  PLO OHL UHDO D &UHWHUHD DQXDO

CA(%)
6H REVHUY  VH F ULWPXO PHGLX DQXDO GH FUHWHUH D FLIUHL GH DIDFHUL GH vQ H[FOXVLYLWDWH LQIOD LHL (IHFWXkQG GHIODWDUHD FX R GDWRUHD]

LQGLFHOH PHGLX DO SUH XULORU YDORULOH UHDOH DOH FLIUHL GH DIDFHUL HYLGHQ LD] GLPLQXDUH D DFWLYLW LL vQWUHSULQGHULL FX  DQXDO

2.4.3 Analiza structurii cifrei de afaceri

$QDOL]D VWUXFWXUDO D FLIUHL GH DIDFHUL SH WLSXUL GH DFWLYLW L VRUWLPHQWH FOLHQ L FLFOX GH YLD QXPDL UHFRPDQGDW RELHFWLYH FDUH V FRQGXF D SURGXVHORU SLH H GH GHVIDFHUH HWF HVWH QX

FL L QHFHVDU  GHRDUHFH HD SHUPLWH OXDUHD XQRU GHFL]LL OD PD[LPL]DUHD HIHFWHORU RE LQXWH vQ UDSRUW FX YDULDELOHOH XQXL DQXPLW FULWHULX GH LQ

HIRUWXULOH GHSXVH 3UDFWLF QX WRDWH

3UHOXFUDUH GXS

01LFXOHVFX

'LDJQRVWLF JOREDO VWUDWHJLF (GLWXUD (FRQRPLF

 %XFXUHWL

1997

DFHODL FRHILFLHQW GH VHPQLILFD LH vQ RE LQHUHD UH]XOWDWHORU HFRQRPLFH L vQ FRQVHFLQ SROLWLFD VWUDWHJLF D XQLW LL WUHEXLH V LL LD vQ FRQVLGHUDUH DFHVWH ULL DFWLYLW

aspecte n scopul eficientiz

0HWRGH GH DQDOL]

a structurii de afaceri

Din punct de vedere metodologic, analiza structurii cifrei de afaceri

VH UHDOL]HD] SULQ P ULPLOH UHODWLYH GH VWUXFWXU

coeficientul de concentrare Gini-Struck (G)

G= n g i 2 1 , n 1
LL L vQ FLIUD GH DIDFHUL

unde: gi SRQGHUHD DFWLYLW

Q

QXP UXO GH WHUPHQL DL VHULHL

Coeficientul de concentrare G poate lua valori n intervalul [0, 1],

VHPQLILFD LD ILLQG XUP WRDUHD

1) cnd G 2) cnd G

 UH]XOW

vQ VWUXFWXUD DFWLYLW F

LL FkWHYD SURGXVH FRQWULEXLH vQ LL PDMRULWDWHD SURGXVHORU

FHD PDL PDUH SURSRU LH OD UHDOL]DUHD FLIUHL GH DIDFHUL  UH]XOW vQ VWUXFWXUD DFWLYLW GH LQ SRQGHUL DSUR[LPDWLY HJDOH v

n cifra de afaceri.

- indicele Herfindhal: H = g i2 , gi
Q SRQGHUHD DFWLYLW LL L vQ FLIUD GH DIDFHUL

i =1

QXP UXO GH WHUPHQL FRQVLGHUD L ,QWHUSUHWDUHD UH]XOWDWHORU HVWH VLPLODU FX FHD D FRHILFLHQWXOXL *LQL

6WUXFN FX SUHFL]DUHD F

1 LQWHUvalul de valori este n ,1 .

LL SH ED]D FRHILFLHQ LORU *LQL FD RELHFW GH

Exemplu:
6H

$QDOL]D VWUXFWXULL DFWLYLW VRFLHWDWHD ;

6WUXFN L +HUILQGKDO FRQVLGHU DYkQG DFWLYLWDWH

Structura gi gi2

comercializarea DUWLFROHORU GH vPEU F PLQWH Structura vnz ULORU HVWH UHSUH]HQWDW vQ WDEHOXO XUP WRU 'm4 w|4 w|4 'm4 Activitatea F
femei 0,72 0,5184 0,21 0,0441 copii 0,05 0,0025 sport 0,02 0,004

Tabelul 2.9 TOTAL 1 0,5654

- Coeficientul Gini-Struck este: G = G = 0,6484

n

n g i 2 1 n 1

- Coeficientul Herfindhal este: H = g i 2 n

i =1

H = 0,5654
6H REVHUY F DPELL FRHILFLHQ L DX P ULPL VLWXDWH DSUR[LPDWLY OD MXP WDWHD LQWHUYDOXOXL GH YDORUL > @ SHQWUX * L GRX

GLQ FHOH SDWUX VRUWLPHQWH FRPHUFLDOL]DWH FRQIHF LL IHPHL L FRQIHF LL LL DQDOL]DWH vPSUHXQ GH LQ 

1 4 ,1 pentru H. Deci,
GLQ

E UED L GHILQHVF DFWLYLWDWHD VRFLHW

cifra de afaceri). - Metoda ABC HVWH XWLOL]DW vQ SULQFLSDO SHQWUX DQDOL]D VWUXFWXULL cifrei de afacerL SH SURGXVH FOLHQ L IXUQL]RUL /LWHUDWXUD GH VSHFLDOLWDWH
HYLGHQ LD] IDSWXO F SURGXVHOH FRPHUFLDOL]DWH FRQWULEXLH vQ SURSRU LL GLIHULWH

la realizarea cifrei de afaceri a unei ntreprinderi. n acest sens se disting trei grupe de produse: Grupa A: 10  GLQ QXP UXO GH SURGXVH UHDOL]HD]  70% din cifra de afaceri; Grupa B: 25  GLQ QXP UXO GH SURGXVH UHDOL]HD]  30% din cifra de afaceri; Grupa C: 65  GLQ QXP UXO GH SURGXVH UHDOL]HD] FX  15% din cifra de afaceri. n baza acestRU FRRUGRQDWH SRDWH IL UHSUH]HQWDW JUDILF FXUED
WHRUHWLF LGHQWLILF UHDO D FLIUHL GH DIDFHUL &XUED UHDO  VSHFLILF SHUIHFW FX FHD WHRUHWLF ILHF UHL vQWUHSULQGHUL QX VH GH WLPS GHL WHQGLQ D VH PHQ LQH 0DL PXOW FXUED D XQHL VRFLHW L SRDWH vQUHJLVWUD PRGLILF UL L GH OD R SHULRDG

la alta.
Q IXQF LD SR]L LD JUDILFXOXL HIHFWLY vQ UDSRUW FX FHO WHRUHWLF VH IDF LQWHUSUHW UL DVXSUD VWUXFWXULL DFWLYLW $VWIHO FkQG FXUED UHDO LL HFRQRPLFH HVWH VLWXDW GHDVXSUD FXUEHL WHRUHWLFH vQ FLIUD GH DIDFHUL LDU

SURGXVHOH JUXSHL $ GH LQ R SRQGHUH IRDUWH LPSRUWDQW

sortimentul este redus.

&kQG FXUED UHDO VH DIO VXE FXUED WHRUHWLF  VRFLHWDWHD GLVSXQH GH XQ QXP U PDUH GH DUWLFROH OD JUXSHOH % L &

Etapele metodei ABC sunt: - Ordonarea nomenclatorului de prodXVH

vQ VHQVXO GHVFUHVF WRU DO YDORULL

YkQ] ULORU SH DUWLFROH

- 'HWHUPLQDUHD YkQ] ULORU FXPXODWH - 6WDELOLUHD JUXSHORU GH VHPQLILFD LH - 7UDVDUHD FXUEHL WHRUHWLFH L D FHOHL UHDOH - ,QWHUSUHWDUHD UH]XOWDWHORU HFRQRPLFH L eILFLHQWL]DUHD DFWLYLW LL Exemplu
DUWLFROH 6LWXD LD UHDOL] ULL

SURSXQHUHD

XQRU

P VXUL

SHQWUX

QWUHSULQGHUHD *DPD 6$ SURGXFH L FRPHUFLDOL]HD] FLIUHL GH DIDFHUL SH SURGXVH VH SUH]LQW



FD vQ

tabelul nr. 2.10.

Produse n ordine descresc WRDUH 4 3 5 1 7 6 2 8 9 10 10
9kQ] UL 9kQ] UL

Tabelul 2.10 Ponderi n: cumulate 113 213 305 385 461 532 597 569 690 706 Produse 20% CA 30,17%

Produse 1 2 3 4 5 6 7 8 9 10 TOTAL

9kQ]

UL

(mil lei) 80 65 100 113 92 71 76 62 31 16 706

ABC (mil lei) 113 100 92 80 76 71 65 62 31 16 706

40%

45,18%

40%

24,65%

5HSUH]HQWDUH JUDILF FXUED WHRUHWLF FXUED UHDO

%CA 100 90 80 70 60 50 40 30 20 10

FXUED WHRUHWLF

curba UHDO

B A

10 20 30 40 50 60 70 80 90 100 %produse

*UDILF DFWLYLWDWHD

FXUED

UHDO

HVWH QX VH

VLWXDW

VXE

FXUED

WHRUHWLF 

5H]XOW SH

vQWUHSULQGHULL

FRQFHQWUHD]

VHPQLILFDWLY

DQXPLWH

produse. Toate

VXQW SURGXVH LPSRUWDQWH DVWIHO F

H[FOXGHUHD XQXL DUWLFRO GH R DSURIXQGDUH D

OD YkQ]DUH DIHFWHD]

DFWLYLWDWHD vQWUHSULQGHULL (VWH QHFHVDU

DQDOL]HL VXE DVSHFWXO HILFLHQ HL JHVWLXQLL VWRFXULORU L D YLWH]HL GH URWD LH D

acestora. Utilitatea metodei ABC FRQVW

vQ GHILQLUHD SROLWLFLL GH DSURYL]LRQDUH

D vQWUHSULQGHULL SH JUXSH SHQWUX FRPHU  SUHFXP L D SXWHULL GH QHJRFLHUH vQ UDSRUW FX FOLHQ LLIXUQL]RULL SHQWUX WRDWH GRPHQLLOH

 $QDOL]D IDFWRULDO

D FLIUHL GH DIDFHUL HVWH GHWHUPLQDUHD FRUHOD LHL GLQWUH GLIHUL L LL VDX vPEXQ W LUHD

Scopul analizei factoriaOH

IDFWRUL GH LQIOXHQ SHUIRUPDQ HORU YLLWRDUH

LQWHUQL VDX H[WHUQL GLUH L VDX LQGLUHF L HWF L LQGLFDWRUXO

DQDOL]DW L J VLUHD VROX LLORU SHQWUX UHGUHVDUHD DFWLYLW

Utilizatorii sunt vQ

SULQFLSDO DJHQ LL HFRQRPLFL LQVWLWX LLOH ILQDQFLDUH

FUHGLWRDUH DF LRQDULL VWDWXO HWF

0HWRGHOH GH DQDOL] $QDOL]D IDFWRULDO GRPHQLX GH DFWLYLWDWH IDFWRULL GH LQIOXHQ D FLIUHL GH DIDFHUL VH UHDOL]HD] OD DOWXO SURGXF LH FRPHU  GLIHUHQ LDW GH OD XQ HWF vQ

WXULVP

truct
SRW IL

L UHOD LLOH GH FDX]DOLWDWH VXQW VSHFLILFH SHQWUX DFWLYLWDWHD LQGXVWULDO

&D SULQFLSDOH PRGHOH GH DQDOL]

utilizate:
Qf CA Np Qf MF MF Qf CA 2) CA = Np Np MF MF Qf 3) CA = q p

1) CA = Np

n care: Np = num
4I 0) 0)

U PHGLX VFULSWLF GH SHUVRQDO

; ;

SURGXF LD IDEULFDW  YDORDUHD PHGLH DQXDO YDORDUHD PHGLH DQXDO D PLMORDFHORU IL[H D PLMORDFHORU IL[H SURGXFWLYH

T S

YROXPXO IL]LF DO SURGXF LHL YkQGXWH SUH XO PHGLX GH YkQ]DUH SH SURGXV 

-TVA).

Exemplu
DQDOL]D IDFWRULDO

8WLOL]kQG ED]D GH GDWH GLQ WDEHOXO XUP WRU VH YD HIHFWXD D FLIUHL GH DIDFHUL

Tabelul 2.11 (mil.lei) Nr. crt. 1. 2. 3. 4. 5. Indicatori Cifra de afaceri

3URGXF LD PDUI IDEULFDW 1XP U PHGLX GH SHUVRQDO 9DORDUHD PHGLH DQXDO D

Simbol CA Qf Np MF MF

N1 24336 23177 520 2400 1560

N 28881 29470 512 2760 1822

% 118,67 127,15 98,46 115 116,79

mijloacelor fixe
9DORDUHD PHGLH DQXDO D

mijloacelor productive 6.
3URGXFWLYLWDWHD PXQFLL FDOFXODW

fixe
DQXDO

direct
D

vQ IXQF LL GH

7. 8. 9.

Qf (mii lei) Timpul mediu pe salariat (ore)

3URGXFWLYLWDWHD PHGLH RUDU SH

Qf Np

44571,153

57560,546

129,14

baza CA (mii lei)

*UDGXO GH vQ]HVWUDUH WHKQLF

t Wh
MF Np
T

1872 25 4615,4

1850 30,5 5390,6

98,82 122 116,79

muncii 10. 11. 12. 13. 14. 15. 16.

7LPSXO WRWDO GH PXQF

973440 46800 65 14,857 15,6 1,05 -

947200 56408,2 66 16,174 15,85 0,98 26223

97,3 120,53 101,53 108,86 120,83 93,33 -

(om-ore) ProductiYLWDWHD DQXDO D muncii pe baza CA (mii lei) Ponderea mijloacelor fixe direct productive (%) Randamentul mijloacelor fixe direct productive (lei) Cifra de afaceri la 1 leu mijloace fixe direct productive Gradul de valorificare a
SURGXF LHL IDEULFDWH 9ROXPXO SURGXF LHL YkQGXWH vQ DQXO 1 HYDOXDW vQ SUH XULOH

Wa
MF MF Qf MF CA MF CA Qf q1 p 0

anului N-1

/D DQDOL]D IDFWRULDO FLIUD GH DIDFHUL VH SUH]LQW

DVWIHO

-a optat pentru modelul al doilea. Schematic, :

Np

MF Np
MF MF

CA

Qf Np

$QDOL]D IDFWRULDO

CA Qf

Qf MF

HVWH XUP WRDUHD

Modificarea cifrei de afaceri n anul N comparativ cu anul N-1 este: CA = CA1 CA0
,QIOXHQ D IDFWRULORU  ,QIOXHQ D PRGLILF ULL QXP UXOXL GH SHU

sonal:

Qf CA Np = (Np1 Np 0 ) 0 0 Np Qf
 ,QIOXHQ D PRGLILF ULL SURGXFWLYLW LL PXQFLL GLQ FDUH GDWRULW  D PXQFLL

Qf Qf Qf CA = Np1 1 0 0 Np Np Np Qf

 0RGLILF ULL JUDGXOXL GH vQ]HVWUDUH WHKQLF

MF MF MF MF Qf CA = Np1 1 0 0 0 0 Np Np MF MF Qf Np  0RGLILF ULL VWUXFWXULL PLMORDFHORU IL[H: MF MF MF MF Qf CA = Np1 1 1 0 0 0 MF Np MF MF MF Qf

 0RGLILF ULL UDQGDPHQWXOXL DFWLYHORU IL[H GLUHFW

productive Qf MF MF Qf Qf CA = Np1 1 1 1 0 0 MF Np MF MF MF Qf
 ,QIOXHQ D JUDGXOXL GH YDORULILFDUH D SURGXF LHL IDEULFDWH

CA Qf CA CA = Np1 1 1 0 Qf Np Qf Qf

Sintetic, rezultatele analizei factoriale sunt prezentate n tabelul

XUP WRU

Tabelul 2.12 mil lei

'

CA

1. 'Np -374,4

2.

GDWRULW

Qf Np

2.1.

4545

din care 6983,09

MF Np
4024,55

MF MF
430,55

2.2.

2.3.

Qf MF
2518,98

3.

CA Qf

-2062,97

1RW  'LIHUHQ HOH vQUHJLVWUDWH OD YHULILFDUHD PHWRGHL VXQW JHQHUDWH GH FDOFXOXO ]HFLPDO XWLOL]DUHD XQXL QXP U OLPLWDW GH ]HFLPDOH &RQFOX]LL &LIUD GH DIDFHUL D GHS LW YDORDUHD DQXOXL SUHFHGHQW FX  PLO OHL $FHDVW  )DFWRUXO FUHWHUH VH H[SOLF FDQWLWDWLY QXP U SULQ LQIOXHQ D IDFWRULORU DVWIHO PHGLX GH SHUVRQDO V F

-a redus cu 8
VRFLHWDWH vQ DQXO 1

VDODULD L L vQ FRQVHFLQ VLWXD LH QRUPDO FDX] D SXV XQ DFFHQW

V D GLPLQXDW L FLIUD GH DIDFHUL FX  PLO OHL

GLQ SXQFW GH YHGHUH HFRQRPLF 5H]XOW PDL UHGXV SH IDFWRUXO XPDQ

GHFkW

a n -1,
GH

GHS LUHD YDORULL DFHVWHLD GDWRUkQGX FRQGL LLOH PHQ LQHULL FRQVWDQWH D

-se n special factorului tehnic. 2. Productivitatea muncii pe un angajat a crescut cu 29,14% iar n
FHORUODO L IDFWRUL GH LQIOXHQ  FLIUD FDUH D LQIOXHQ DW IDYRUDELO LQGLFDWRUXO DQDOL]DW F VSRULUHD vQ]HVWUDUH PXQFLL D IRVW FRQVHFLQ D FUHWHULL JUDGXOXL GH

afaceri a crescut cu 6983,09 mil lei, aceasta fiind de altfel singurul factor cu
DF LXQH GLUHFW 'H]YROWkQG DQDOL]D SH IDFWRUL GH JUDGXO GRL VH REVHUY

productiviW
WHKQLF HILFLHQ HL

LL

D PXQFLL vPEXQ W PLMORDFHORU IL[H

LULL VWUXFWXULL PLMORDFHORU IL[H vQ VHQVXO VSRULULL SURGXFWLYH 7R L IDFWRULL GH JUDGXO GRL DX

SRQGHULL PLMORDFHORU IL[H GLUHFW SURGXFWLYH vQ WRWDO PLMORDFH IL[H L FUHWHULL LQIOXHQ DW IDYRUDELO FLIUD GH DIDFHUL  'HL FLIUD GH DIDFHUL D vQUHJLVWUDW WHQGLQ H IDYRUDELOH ID SUHFHGHQW VH FRQVWDW WRWXL F GH DQXO ,Qf ULWPXO GH FUHWHUH D SURGXF LHL IDEULFDWH D

fost superior ritmului de creWHUH D FLIUHL GH DIDFHUL ,CA  L 127,15%) fapt ce s-a reflectat ntr-o majorare a stocurilor de produse.
6RFLHWDWHD WUHEXLH V SHULRDG YLLWRDUH DVWIHO vQFkW V VH HYLWH LPRELOL]DUHD GH

LD P VXUL SHQWUX OLFKLGDUHD DFHVWRU VWRFXUL vQWU

-o resursefinanciare n

stocuri nevandabile sau lent vandabile.

&D P VXUL SHQWUX FUHWHUHD YkQ] ULORU L LPSOLFLW D FLIUHL GH DIDFHUL VH UHFRPDQG  GLPHQVLRQDUHD SURGXF LHL L D VWUXFWXULL DFHVWHLD vQ UDSRUW

cu cererea prin ncheierea unor contracte ferme cu beneficiarii; diversificarea ofertei;

vPEXQ W LUHD FDOLW LL SURGXVHORU IDEULFDWH HWF

2.4.5

5HIOHFWDUHD

PRGLILF

ULL

FLIUHL

GH

DIDFHUL

vQ

SULQFLSDOLL

indicatori economico-financiari
0RGLILFDUHD FLIUHL GH DIDFHUL VH UHIOHFW vQ WR L LQGLFDWRULL GH

peUIRUPDQ H L UH]XOWDWH FDUH R LPSOLF vQ FDOFXO a) Profitul brut (CA1 CA 0 )pr 0 pr 0 SURILWXO OD XQ OHX FLIU
E 5DWD UHQWDELOLW

GH DIDFHUL

(CA1 CA 0 )pr0
At1

LL HFRQRPLFH

At = active totale e a activelor circulante AC = active circulante

FLUFXODQW FD HIHFW DO PRGLILF ULL

F 9LWH]D GH URWD L

AC 0 AC 0 T T CA1 CA 0

d) Eliberarea/imobilizarea de activ
YLWH]HL GH URWD LH

AC 0 AC 0 CA1 CA T CA T 1 0 T
H (ILFLHQ D XWLOL] ULL PLMORDFHORU IL[H

CA 0 CA1 1000 1000 MF1 MF1

MF = mijloace fixe

I (ILFLHQ D XWLOL] ULL SRWHQ LDOXOXL XPDQ

(CA1 CA 0 )pr 0
Ns1

Ns1

QXP U PHGLX GH VDODULD L

 $QDOL]D YDORULL DG

XJDWH

2.5.1 'HOLPLWDUH FRQFHSWXDO

9DORDUHD vQWUHSULQGHULL LQWHUPHGLDUH L DG XJDW GH UHSUH]LQW SOXVXO OD

 GLPHQVLXQHD ERJ LH RE LQXW UHDO SHVWH D DFWLYLW LL

GHILQHWH GH WHU L

FRQVXPXULOH UHVXUVHORU

SURYHQLWH

SULQ

YDORULILFDUHD

WXWXURU

economice proprii. 2.5.2 Utilitate

D 9DORDUHD DG XJDW SHUPLWH DSUHFLHUHD FRQWULEX LHL v

ntreprinderii la
SH

UHDOL]DUHD SURGXVXOXL LQWHUQ EUXW L HYLGHQ LHUHD JUDGXOXL GH LQWHJUDUH YHUWLFDO  SULQ UDSRUWDUHD OD SURGXF LH

b) Beneficiarii

YDORULL DG XJDWH VXQW SHUVRQDOXO DF LRQDULL VWDWXO

LQVWLWX LLOH GH FUHGLW L vQWUHSULQGHUHD

2.5.3 0HWRGH GH GHWHUPLQDUH D YDORULL DG

9DORDUHD DG XJDW L DGLWLY  0HWRGD VXVWUDFWLY $FHDVW PHWRG GLIHUHQ HL SRDWH IL GHWHUPLQDW

XJDWH PHWRGH VXVWUDFWLY

SULQ GRX

SUHVXSXQH VF GHUHD GLQ SURGXF LD H[HUFL LXOXL VDX

din cifra de afaceri a consumurilor intermediare provenite GH OD WHU L

5HOD LLOH GH FDOFXO VXQW

unde

a1) Qa = Qe C Qe SURGXF LD H[HUFL LXOXL C = consumurile intermediare provenite GH OD WHU L

4D YDORDUHD DG XJDW IRUPXO HVWH YDODELO vQ FD]XO VRFLHW LORU FDUH GHVI RDU $FHDVW

DFWLYLWDWH GH SURGXF LH

a2) Qa = (Qe + MC) C unde

0& PDUMD FRPHUFLDO & FRQVXPXULOH LQWHUPHGLDUH SURYHQLWH GH OD WHU L SHQWUX DFWLYLWDWHD GH SURGXF LH L FRPHU 

5HOD LD HVWH YDODELO GH FRPHU FD GLIHUHQ L SURGXF LH 0DUMD FRPHUFLDO P UIXULORU YkQGXWH

SHQWUX vQWUHSULQGHULOH FDUH GHVI RDU

DFWLY

itate

0& HVWH XQ VROG LQWHUPHGLDU GH JHVWLXQH FDOFXODW P UIXULORU YkQGXWH L FRVWXO GH FXPS UDUH DO

vQWUH YDORDUHD

 0HWRGD DGLWLY 0HWRGD DGLWLY S

resupune nsumarea XUP

WRDUHORU FRPSRQHQWH

salarii
FRQWULEX LL SHQWUX DVLJXU UL L SURWHF LH VRFLDO DPRUWL] UL

provizioane
FKHOWXLHOL FX LPSR]LWH L WD[H QX LQFOXGH LPSR]LWXO SH SURILW UH]XOWDWXO H[SORDW ULL

cheltuieli financiare.

 $QDOL]D GLQDPLFLL L VWUXFWXULL YDORULL DG 6H UHDOL]HD]

XJDWH

SULQ XWLOL]DUHD XUP WRDUHORU SURFHGHH 

unde:

 UHSUH]LQW  UHSUH]LQW

a) PRGLILFDUHD DEVROXW Qa = Qa1 Qa0 b) LQGLFLL GH GLQDPLF Qa N I Qa = 100 Qa 0

SHULRDGD FXUHQW ED]D GH FRPSDUD LH FX ED] IL[ L vQ ODQ  IL[ 

LQGLFL FX ED]

I Qa =

c) UDWHOH YDORULL DG XJDWH c1) UDWD YDULD LHL YDORULL DG XJDWH Qa Qa 0 RQa = 1 100 HYLGHQ LD] Qa 0
YDORULL DG XJDWH ID GH ED]D GH FRPSDUD LH

Qa N 100 Qa N 1

LQGLFL FX ED]

vQ ODQ 

PRGLILFDUHD SURFHQWXDO

c2) UDWD YDORULL DG XJDWH JUDGXO GH LQWHJUDUH SH YHUWLFDO Qa Qa 100 sau R = 100 R= CA Qe
$FHDVW   vQ UDW HYLGHQ LD] LQGXVWULDO L FRQWULEX LD PDL UHGXVH DGXV SkQ GH OD UHDOL]DUHD SURGXVXOXL ILQLW (D vQUHJLVWUHD] VHFWRUXO GLVWULEX LHL SRQGHUL DOH HOHPHQWHORU FRPSRQHQWH vQ WRWDO YDORDUH DG XJDW  YDORUL PDL PDUL SkQ   vQ

vQWUHSULQGHUH

OD

la 75
VHFWRUXO

c 3)

UDWHOH GH UHPXQHUDUH D YDORULL DG XJDWH GHWHUPLQDWH FD

a) rata de remunerare a personalului Salarii + participatii Rp = 100 Qa b) rata de remunerare a statului Im pozite si taxe Rs = 100 Qa c) rata de remunerare a creditorilor Dobanzi Rc = 100 Qa
G UDWD GH UHPXQHUDUH D DF LRQDULORU

Dividende 100 Qa e) rata de remunerare a ntreprinderii Pr ofit net Ri = 100 Qa f) rata de remunerare a capitalului tehnic Cheltuieli cu amortizarea Rc = 100 Qa Ra =
(YROX LD HILFLHQ DFHVWRU UDWH VH VWXGLD] vQ SDUDOHO FX DO L LQGLFDWRUL GH SURGXFWLYLWDWHD PXQFLL UDQGDPHQWXO DFWLYHORU LPRELOL]DWH D 6H DSUHFLD] FD VLWXD LH IDYRUDELO FUHWHUHD UDWHL GH UHPXQHUDUH D

vQWUHSULQGHULL UHVSHFWLY GHYDQVDUHD ULWPXOXL GH FUHWHUH D YDORULL DG XJDWH GH F WUH ULWPXO GH FUHWHUH D SURILWXOXL QHW ,Qa

< IPN).

 $QDOL]D IDFWRULDO

D YDORULL DG

XJDWH

Scopul analizei factoriale este determinarea abaterilor valorii

DG XJDWH GH OD ED]D GH FRPSDUD LH HVWLPDUHD FRQWULEX LHL GLIHUL LORU IDFWRUL GH LQIOXHQ OD IRUPDUHD L PRGLILFDUHD LQGLFDWRUXOXL DQDOL]DW L LGHQWLILFDUHD LL HFRQRPLFH YLLWRDUH VROX LLORU GH UHGUHVDUH D DFWLYLW

0RGHOH GH DQDOL]

C I) Qa = Qe C = Qe 1 Q = Qe a e Q Qa = N s Wa a , II) Qa = N s e N s Qe
unde: a = YDORDUHD PHGLH DG XJDW OD  OHX SURGXF LH D H[HUFL LXOXL Wa = SURGXFWLYLWDWHD PHGLH DQXDO
& FRQVXPXUL SURYHQLWH GH OD WHU L 6FKHPD GH DQDOL]

(pentru modelul I)

Ns

T Qe Qa
a ai
3HQWUX DQDOL]D IDFWRULDO D YDORULL DG XJDWH VH

Wh
gi

vor utiliza indicatorii

din tabelul 2.13.

Tabelul nr. 2.13 (mii lei) Nr. crt. 1 2 3 4 5 6 7 8 9 Indicatori

3URGXF LD H[HUFL LXOXL &RQVXPXULOH SURYHQLWH GH OD WHU L 9DORDUHD DG XJDW )RQGXO WRWDO GH WLPS GH PXQF RUH

Simbol Qe C VA T Ns

N-1 26.208.000 11.007.360 15.200.640 1.048.320 560 1.872 25 0,58 -

N 30.029.000 12.011.680 18.017.320 1.000.960 544 1.840 30 0,6 0,59

1XP UXO PHGLX GH VDODULD L SHUV

Timpul mediu pe un salariat (ore)

3URGXFWLYLWDWHD PHGLH RUDU 9DORDUHD PHGLH DG XJDW OD  OHX

t
Wh a

SURGXF LH OHL 9DORDUHD PHGLH DG XJDW OD  OHX SURGXF LH UHFDOFXODW OHL

rec

0HWRGRORJLD GH DQDOL] ODQ 

SUHVXSXQH DSOLFDUHD PHWRGHL VXEVWLWX LLORU vQ

Qa = Qa1 Qa0
,QIOXHQ D IDFWRULORU

1) ,QIOXHQ D PRGLILF ULL YDORULL SURGXF LHL H[HUFL LXOXL Q e = Q e1 Q e0 a 0  GLQ FDUH GDWRULW 

1.1.) MRGLILF ULL IRQGXOXL WRWDO GH WLPS GH PXQF T = (T1 T0 )W h 0 a 0  GLQ FDUH GDWRULW 1.1.1.) 0RGLILF ULL QXP UXOXL PHGLX GH VDODULD L N s = N s1 N s0 t 0 W h 0 a 0

1.1.2.) 0RGLILF ULL WLPSXOXL PHGLX SH XQ VDODULDW t = N s1 (t 1 t 0 )W h 0 a 0 1.2.) ModiILF ULL SURGXFWLYLW LL PHGLL RUDUH Wh = T1 W h1 W h 0 a 0 2. ,QIOXHQ D YDULD LHL YDORULL PHGLL DG XJDWH OD  OHX 4e a = Q e1 a1 a 0  GLQ FDUH GDWRULW

2.1.) 0RGLILF

g i = Qe1 a rec a0 unde a rec =

ULL VWUXFWXULL SURGXF LHL

g i1 a i0 100

2.2.)

0RGLILF ULL YDORULL DG XJDWH OD  OHX SURGXF LH SH WLSXUL

GH DFWLYLW

a i = Q e1 a1 a rec
6LQWHWLF UH]XOWDWHOH DQDOL]HL SUH]HQWDWH vQ WDEHOXO XUP WRU

)
D YDORULL DG XJDWH VXQW

IDFWRULDOH

VA din care: 2.816.680

Qe (1) din care: 2.216.180

T (1.1.) din care: -686.720

Tabelul nr. 2.14 mii lei

Ns (1.1.1.) -434.304

t (1.1.2.) -252.416

Wh (1.2.) 2.902784

a
(2) din care 600.580

gi (2.1.) 300.290

a1
(2.2.) 300.290

1RW  'LIHUHQ HOH vQUHJLVWUDWH vQWUH DEDWHUHD YDORULL DG XJDWH L VXPD DOJHEULF D LQIOXHQ HORU IDFWRULORU VXQW GHWHUPLQDWH GH FDOFXOXO ]HFLPDO DO ]HFLPDOH D vQUHJLVWUDW R FUHWHUH FX   'LQ SXQFW GH YHGHUH IDFWRULDO FX  D GHWHUPLQDW vQ

a (calculul cu GRX

&RQFOX]LL 9DORDUHD DG XJDW

mii lei ID
DFHDVW 

GH ED]D GH FRPSDUD LH  DVWIHO H[HUFL LXOXL &UHWHUHD SURGXF LHL

HYROX LH VH H[SOLF

FRQGL LLOH FRQVLGHU ULL FRQVWDQWH D YDORDUH SH DG XJDW GH 

YDORULL DG XJDWH PHGLL XQ OHL 3HQWUX YkQGXW  D QLYHOXO MXVW  VHFXQGDUL SXQH vQ HYLGHQ R DSUHFLHUH SURGXF LH SURGXF LHL

spor de
D

PLL

RELHFWLY

RSRUWXQLW SURGXF LH DGRSWDW

LL P ULULL SURGXF LHL H[HUFL LXOXL VH LPSXQH GH]YROWDUHD DQDOL]HL FRPSRQHQWH 'DF PHQ LQXW DQDOL]HL SURGXF LH GH FHO SH SX LQ OD LPRELOL]DW  UHDOL]DWH D SROLWLFD UROXO VWRFDW  JUDGXO YDORULILFDUH

HOHPHQWH

crescut sau s-D

DQXOXL

SUHFHGHQW

GH VRFLHWDWH SRDWH IL FRQVLGHUDW 'HWDOLHUHD IDFWRUL

exclusiv al factorilor intensivi (productivitatea muncii). Factorii cantitativi IRQGXO GH WLPS SH XQ VDODULDW W L QXP UXO PHGLX GH VDODULD L 1V V-au
GLPLQXDW LDU LQIOXHQ D DVXSUD YDORULL DG XJDWH D IRVW vQ DFHODL VHQV (VWH SRVLELO FD VWUDWHJLD XQLW WHKQLF vQ UHDOL]DUHD LQIRUPD LL  9DORDUHD DG XJDW OD  OHX SURGXF LH LL V VH IL ED]DW SH DFFHQW LL HFRQRPLFH QX

uarea rolului capitalului

GLVSXQH GH DVWIHO GH

DFWLYLW

VH

comparativ cu N- cu 600.580 mii lei.

6H FRQVWDW

IDSW FH D GHWHUPLQDW L PDMRUDUHD YDORULL DG XJDWH WRWDOH F D FUHVFXW SRQGHUHD SURGXVHORU FX R YDORDUH DG XJDW

(a ) a crescut cu 0,02 n N

OD

OHX

SURGXF LH FDWHJRULL

PDL GH

PDUH

GHFkW

PHGLD

vQWUHSULQGHULL OD 

7RWRGDW  OHX D

OD

SULQFLSDOHOH

SURGXVH

YDORDUHD

DG XJDW

FUHVFXW

VLWXD LH IDYRUDELO  UHIOHFWDW

vQWU XQ VSRU GH YDORDUH DG XJDW

GH 

mii lei.



5HIOHFWDUHD

PRGLILF

ULL

YDORULL

DG

XJDWH

vQ

SULQFLSDOLL

indicatori economico-financiari
0RGLILFDUHD YDORULL DG XJDWH vQ VHQVXO FUHWHULL VDX UHGXFHULL DFHVWHLD

se va refOHFWD vQ DFHODL VHQV DVXSUD WXWXURU LQGLFDWRULORU GH SHUIRUPDQ

D UH]XOWDWXO H[SORDW ULL

(Qa1 Qa0) pra0, unde: RE0

SUD UH]XOWDWXO H[SORDW ULL

pra 0 =

RE 0 , Qa 0

SURILWXO OD  OHX YDORDUHD DG XJDW

b) productivitatea muncii: Qa1 Qa 0 , Ns1 unde:

1V QXP UXO PHGLX GH VDODULD L LL HFRQRPLFH F UDWD UHQWDELOLW

100 , AT1 unde: AT = valoarea medie a activelor totale

G HILFLHQ D XWLOL] ULL DFWLYHORU IL[H

(Qa1 Qa 0 )pra 0

Qa1 Qa 0 1000 , MF1 unde: MF = valoarea medie a mijloacelor fixe

G DO L LQGLFDWRUL

$SOLFD LL L vQWUHE

UL
L

1. 6 VH LQWHUSUHWH]H HYROX LD DFWLYLW LL GH SURGXF LH comercializare a ntreprinderii X WLLQG F  ICA = 108% unde CA = Cifra de afaceri IQe = 110% 4H 3URGXF LD H[HUFL LXOXL 4I 3URGXF LD IDEULFDW H[SULPDW IQa = 111%
SUH 4D GH YkQ]DUH

vQ

IQf = 109% 2. 6 VH LQWHUSUHWH]H VLWXD LD I CA = 1,04 I Qf

9DORDUHD DG XJDW

I Qa I Qe
I Qf I Qe

= 0,98
= 1,2
 *LQL

3. Cum se interpreteaz HYROX LD VWUXFWXULL FLIUHL GH DIDFHUL GDF G1 = 0,72 unde: * HVWH FRHILFLHQWXO GH VWUXFWXU Struck G0 = 0,19 4. &H HYLGHQ LD] 5.
VRFLHWDWHD 6 VH FRPHUFLDO FLIUD GH DIDFHUL PLQLP VWUXFWXUD GH FLIUHL R GH " 'DU FLIUD PDUJLQDO DIDFHUL SH FOLHQ L 6H

?
F

DQDOL]H]H GH GDWH

WLLQG

GLVSXQH

FOLHQWHO

HWHURJHQ 

FRQVLGHU

XUP WRDUHD ED]

Nr. crt. 1 2 3 4 5

&OLHQ L

Cifra de afaceri (mil lei)

&OLHQ L

ABC 3500 6200 830 210 99

Cifra de afaceri ABC (mil lei)

Cifra de afaceri
FXPXODW

Zona ABC
FOLHQ L

%CA

(mil lei)

C1 C2 C3 C4 C5

Nr. crt. 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

&OLHQ L

Cifra de afaceri (mil lei)

&OLHQ L

ABC 76 530 417 570 1200 138 730 890 915 420 94 76 52 5 17

Cifra de afaceri ABC (mil lei)

Cifra de afaceri
FXPXODW

Zona ABC
FOLHQ L

%CA

(mil lei)

C6 C7 C8 C9 C10 C11 C12 C13 C14 C15 C16 C17 C18 C19 C20
6

VH WUDVH]H FXUED UHDO

$%& V

VH FRPSDUH FX FHD WHRUHWLF

L V

VH LQWHUSUHWH]H UH]XOWDWHOH RE LQXWH

6. 6 VH GHWHUPLQH LQIOXHQ D PRGLILF ULL SURGXFWLYLW LL PXQFLL DVXSUD cifrei de afaceri L V VH LQWHUSUHWH]H FD]XO LQIOXHQ HL FX VHPQXO  7. 8.
LQGLFHOH &H VHPQLILFD LH HFRQRPLF $%& DUH SODVDUHD FXUEHL UH

ale ABC sub

FXUED WHRUHWLF

?
FXUHQWH HVWH GH  LDU LQGLFHOH SUH XULORU GH

&DUH D IRVW WHQGLQ D FLIUHL GH DIDFHUL vQ WHUPHQL UHDOL WLLQG F vQ SUH XUL

&$

vnzare este de 148%. 9.

WHKQLF 6 VH GHWHUPLQH LQIOXHQ D PRGLILF ULL JUDGXOXL D PXQFLL DVXSUD FLIUHL GH DIDFHUL 6 VH LQWHUSUHWH]H

MF/Ns = -x
XJDWH

GH

vQ]HVWUDUH

mii lei. 10. Care sunt partenerii sociali la repartizarea valoULL DG 11. 'DF ,Qa ntreprinderii? (IQa LQGLFHOH YDORULL DG
 L ,Pr

= 114%, cum aprecLD L

DFWLYLWDWHD

XJDWH ,Pr

= indicele profitului).

12.
F

&H HVWH JUDGXO GH LQWHJUDUH SH YHUWLFDO

" Q FH GRPHQLL DSUHFLD L

HVWH PDL PDUH L GH FH

13. Ce includ consuPXULOH LQWHUPHGLDUH GH OD WHU L? 14. 6 VH LQWHUSUHWH]H FD]XO IQa = 114% unde: IQe = 126% Ichs = 119% 15.
6 VH GHWHUPLQH LQIOXHQ D

Chs = cheltuieli cu personalul

4D 4H YDORDUHD DG XJDW SURGXF LD H[HUFL LXOXL VWUXFWXULL SURGXF LHL

PRGLILF ULL

H[HUFL LXOXL SH SURGXVH VDX SH WLSXUL GH DFWLYLW

Interpretare pentru cazul gi = -y mii lei. 16. 6

R SHUVRDQ DVXSUD YDORULL DG XJDWH &D]X

L DVXSUD YDORULL DG XJDWH

VH GHWHUPLQH LQIOXHQ D PRGLILF ULL WLPSXOXL PHGLX GH OXFUX SH

l : t = +z mii lei.

17.

&H

VHPQLILFD LH

DUH

QRPHQFODWXU 

.n

= 0,65% ? (Kn = coeficientul de

18. 6 VH LQWHUSUHWH]H FD]XO Ks = 0,98 unde Ks = coeficientul de sortiment Kstr = 0,99 Kstr FRHILFLHQWXO GH VWUXFWXU Iq = 110% Iq = indicele volumulXL SURGXF LHL ntreprindere

SH

WRWDO

()

19. K pentru:

&H

VHPQLILFD LH

DUH

HYROX LD

FRHILFLHQWXOXL

PHGLX

GH

FDOLWDWH

K 1 = 1,72
K 0 = 1,54 20.
6 VH GHWHUPLQH LQIOXHQ D PRGLILF ULL VWUXFWXULL LL  SURGXF L

ei

IDEULFDWH DVXSUD FRHILFLHQWXOXL PHGLX JHQHUDOL]DW DO FDOLW

21. 6 VH LQWHUSUHWH]H HYROX LD FDOLW LL SURGXF LHL WLLQG F unde: p1 = 79.520 lei/buc p SUH XO PHGLX

p 0 = 66.417 lei/buc

22. &XP LQIOXHQ HD] rezultate? 23. Ce eviden LD]

FDOLWDWHD DVXSUD LQGLFDWRULORU GH SHUIRUPDQ H L

FRHILFLHQWXO GH VRUWLPHQW" 'DU FHO GH VWUXFWXU VH DQDOL]H]H HYROX LD FDOLW

24. 3H ED]D GDWHORU V

Clasa de calitate Clasa I Clasa a II-a Clasa a III-a TOTAL Cantitate (buc) Programat 76.000 55.300 49.700 181.000 Realizat 80.000 59.000 45.000 184.000

LL SURGXVXOXL [

4Fw w.
Programat Realizat

Structura

44

Coeficient de $

A
echivalente Programat Realizat

3
$1$/,=$ &26785,/25 '( 352'8& ,(

5HGXFHUHD DEVROXW SRDWH IL FRQFHSXW vQ RULFH vQWUHSULQGHUH WLLQ LILFH

L UHODWLY

D FRVWXULORU GH SURGXF LH GH SULQFLSLX UH]HUYH vQ DFHVW VHQV GHWHUPLQDWH HVWH G UH]HUYH vQ

QXPDL DFROR XQGH H[LVW H[LVW DVHPHQHD ORU

Teoretic, e progresul
GH

FRQWLQXX DO IDFWRULORU GH SURGXF LH GH DSOLFDUHD vQ SUDFWLF FHUFHW ULORU 3XQHUHD YDORDUH

D UH]XOWDWHORU

FRQGL LRQDW

FXQRDWHUHD H[LVWHQ HL DFHVWRUD D GLPHQVLXQLL ORU L GH DF LXQHD IDFWRUXOXL

uman pentru materialL]DUHD P

QRUPDOH FDUH FRQVWLWXLH

VXULORU VWDELOLWH VWDELOLUHD XQRU FRVWXUL FRQVLGHUDWH SHUPDQHQW GH FRPSDUD LH D FULWHULXO

&RQGXFHUHD SULQ FRVWXUL LPSOLF

comportamentului diferitelor categorii de cheltuieli.

&H UHSUH]LQW FRVWXULOH QRUPDOH " (VWH JUHX GH GDW R GHILQL LH VDX R FRQVLGHU FD ILLQG PRGDOLWDWH GH SUHVWDELOLUH 7HRULD L SUDFWLFD PRQGLDO

costuri normale: standardele de cheltuieli stabilite pe baza tehnologiilor de

IDEULFD LH SURLHFWD L FDUH PDL DVLJXU VF ]XW RE LQHUHD SURGXVHORU OD SDUDPHWULL GH

nivelXO

FHO

GH FKHOWXLHOL vQUHJLVWUDWH vQ UDPXUD XQ SURILW QHW DQXDO HFKLYDOHQW FX DFHDVW

DFWLYLWDWH UHVSHFWLY  FRVWXULOH FDUH DVLJXU GREkQ]LL DIHUHQWH FDSLWDOXOXL SURSULX Q OHJ WXU SUREOHP  vQ

OLWHUDWXUD GH VSHFLDOLWDWH VH GDX DQXPLWH P UL

mi, ca de exemplu
FRQFUHWH DOH

12% din capitalul propriu.

,PSRUWDQW HVWH FD vQ ILHFDUH vQWUHSULQGHUH V DO FRVWXULORU FDUH V ILH vQ SHUPDQHQ DGDSWDW H[LVWH XQ SURJUDP SODQ FRQGL LLORU

PRPHQWXOXL

FRQVWLWXLQG

ED]D

GH

UDSRUWDUH FRVWXULORU VXSUD HVWH VDX QX

SHQWUX D

UHDOL] ULOH

ILHF

rei
GH

perioade.
Q EXQD DERUGDUHD D &D SUREOHPDWLFLL VH SRUQHDVF ILUPHL DWDUH D 2ULFH FHHD FH ILHF UHL FDWHJRULL FKHOWXLHOL WUHEXLH V IXQF LRQDUH L QX VDX D GLVIXQF LRQDOLW FKHOWXL GH OD IXQF LLOH SH FDUH DFHVWHD OH DX vQ VXEGLPHQVLRQDUH VLPSOX FL FUHHD] D QX SXV vQWRWGHDXQD vQVHDPQ WUHEXLH

HFRQRPLVL

FRQVXPD

IRDUWH

SUREOHPD L vQ VHQVXO XUP WRU FkW VH SLHUGH GDF

QX VH FKHOWXLH  OHX 

etc.) n plus.
,QWHJUDW ILH FLUFXPVFULV DOH vQ DFWLYLWDWHD SUDFWLF LQWHUQ vQWU GH FRQGXFHUH WHPDWLFD

cheltuielilor aspecte
/HJHD

GH SURGXF LH HVWH R SUREOHP

D ILHF UHL vQWUHSULQGHUL FDUH WUHEXLH V

-un

cadru

legislativ
L $D

general
GH

viznd
SULQ

RUJDQL]DWRULFH FRQWDELOLW

HYLGHQ HL

SUHFXP

QLYHOXUL

QRUPDWH

UHJOHPHQWDWH

pentru unele categorii de

FKHOWXLHOL

H[HPSOX

LL 1U  L +* ;,, SULQ FDUH V

-a aprobat

UHJXODPHQWXO GH DSOLFDUH D OHJLL L SODQXO FRQWDELO JHQHUDO V D SUHY ]XW

clasa 9 Conturi de gestiune. Asemenea aspecte sunt elemente importante ale conducerii micro sau macroeconomice prin intermediul prghiilor economico-financiare.
Q FHHD FH SULYHWH DFWLYLWDWHD SUDFWLF GH DQDOL] D FKHOWXLHOLORU DFHDVWD WUHEXLH V 0RGDOLW DQDOL] ILH SULQ H[FHOHQ LOH GH UHDOL]DUH R FRPSRQHQW L UHVSHFWLY GH PDMRU D PDQDJHPHQWXOXL D PXQFLL GH

intern al firmeL FDUH V

FDUH R UHDOL]HD] 

DVLJXUH UHDOL]DUHD XQRU FRVWXUL FRPSHWLWLYH RUJDQL]DUH

D SUREOHPDWLFLL DERUGDWH VXQW GLIHULWH vQ UDSRUW GH VFRS L VXELHFWXO &X WRDWH DFHVWHD H[LVW R PHWRGRORJLH GH DQDOL] D FKHOWXLHOLORU FDUH

RIHU

XQ FDGUX JHQHUDO SRVLELO GH DGRSWDW GH F WUH XWLOL]DWRUL 3ULQFLSDOHOH vQ FRQWLQXDUH VXQW

DVSHFWH FDUH VH DERUGHD]

3.1 Analiza cheltuielilor aferente veniturilor ntreprinderii

5HDOL]DUHD GH FKHOWXLHOL GXS XQXL YHQLW L UHVSHFWLY SURILW LPSOLF HIHFWXDUHD GH FKHOWXLHOL Q FRQWDELOLWDWHD ILQDQFLDU  FKHOWXLHOLOH VH vQUHJLVWUHD] QDWXUD ORU L VH JUXSHD] vQ SH IHOXUL

a) cheltuieli de exploatare care cuprind categoriile de consumuri privind realizarea RELHFWXOXL GH DFWLYLWDWH L FHOH DIHUHQWH DFHVWRUD ([HPSOX provizioanele pentru diverse cheltuieli); b) cheltuieli financiare FDUH LQFOXG SLHUGHULOH GH FUHDQ H OHJDWH

GH SDUWLFLSD LL GLQ YkQ]DUHD WLWOXULORU GH SODVDPHQW GREkQ]L HWF YL]HD]

activiWDWHD ILQDQFLDU
F FKHOWXLHOL QRUPDO  VH UHIHU

vQ DIDUD H[SORDW ULL

H[FHS LRQDOH

FDUH

QX

VXQW

OHJDWH

GH

DFWLYLWDWHD

FXUHQW 

OD GHVS JXELUL DPHQ]L SHQDOL] UL GRQD LL VXEYHQ LL HWF FX DMXWRUXO FRQWXULOR

(YLGHQ D DFHVWRU FKHOWXLHOL VH UHDOL]HD]

r din

grupa 6
L ,9

FRQWXUL GH FKHOWXLHOL FDUH VH GH]YROW

SH DQDOLWLFH GH JUDGXO ,,,

9HQLWXULOH vQWUHSULQGHULL UHSUH]LQW FXUVXO H[HUFL LXOXL L VH JUXSHD] FDUH IRUPHD] RELHFWXO GH vQ

VXPHOH vQFDVDWH VDX GH vQFDVDW vQ RSHUD LLOH GLQ

a) venituri din exploatare n care se includ venituriOH UHDOL]DWH GLQ

DFWLYLWDWH OD FDUH VH DGDXJ SURGXF LH VWRFDW

YHQLWXULOH

L LPRELOL]DW  SUHFXP L DOWH YHQLWXUL OHJDWH GH H[SORDWDUH

E YHQLWXUL ILQDQFLDUH vQ FDUH VH LQFOXG YHQLWXULOH GLQ SDUWLFLSD LL GLQ DOW LPRELOL] UL GLQ WLWOXUL GH SODVDPHQW HWF F YHQLWXUL H[FHS LRQDOH GHVS JXELUL SHQDOLW (YLGHQ D YHQLWXULORU VH UHDOL]HD] L vQFDVDWH HWF

FX DMXWRUXO FRQWXULORU GLQ FODVD

7 Conturi de venituri.
Q JHQHUDO VH SRDWH IDFH R FRUHOD LH vQWUH YHQLWXUL L FKHOWXLHOL vQ VHQVXO F UHDOL]DUHD XQXL YHQLW SUHVXSXQH HIHFWXDUHD XQHL FKHOWXLHOL VDX LQYHUV 'DU VXQW L H[FHS LL $D GH H[HPSOX FKHOWXLHOLOH ILQDQFLDUH GH UHJXO  QX JHQHUHD] $QDOL]D YHQLWXUL LDU UHDOL]DUHD DFHVWRUD QX SUHVXSXQH FKHOWXLHOL DIHUHQWH L ,QWHJUDW R SULP YHQLWXULORU YL]HD] HYROX LD ORU L $FHOHDL UHJXOL OH DX L XQHOH FKHOWXLHOL L YHQLWXUL H[FHS LRQDOH FKHOWXLHOLORU IDFWRULL FDUH R GHWHUPLQ  vQ YHGHUHD LGHQWLILF ULL SRVLELOLW vQ VFRSXO VSRULULL UHQWDELOLW DFHDVW DQDOL] UHSUH]LQW HWDS GH LQIRUPDUH LORU GH GLPLQXDUH GH JHVWLXQH GLQDPLFLL DVXSUD

vQ DFWLYLWDWHD SUDFWLF

FKHOWXLHOLORU Q DFHVW VFRS VH XWLOL]HD] YHQLWXUL & FDUH VH GHWHUPLQ

LQGLFDWRUXO &KHOWXLHOL OD  OHL

FD UDSRUW vQWUH FKHOWXLHOLOH WRWDOH 

venituri (Vi)

chi

C=

chi
i =1 n

Vi
i =1

1000

sau

C=

g i ci
100

n care: gi UHSUH]LQW VWUXFWXUD YHQLWXULORU SH FDWHJRULL ci = cheltuieli la 1000 lei venituri pe categorii de venituri.

'H DLFL UH]XOW

ID

GH R ED]

GH UHIHULQ

 PRGLILFDUHD QLYHOXOXL

cheltuieliORU OD  OHL YHQLWXUL VH GDWRUHD]

3HQWUX VHSDUDUHD FHORU GRX

LQIOXHQ HL VWUXFWXULL YHQLWXULORU HVWH QHFHVDU UHFDOFXODUHD

L D QLYHOXOXL FKHOWXLHOLORU OD  OHL SH FDWHJRULL GH YHQLWXUL LQIOXHQ H  FKHOWXLHOLORU OD  OHL vQ IXQF LH GH VWUXFWXUD QLYHOXOXL FRPSDUDW L D UDWHORU SH FDWHJRULL GH YHQLWXUL GLQ ED]D GH UHIHULQ 3HQWUX H[HPSOLILFDUH VH IRORVHVF XUP WRDUHOH GDWH 7DEHOXO  GDWH H[WUDVH GLQ FRQWXO GH SURILW L SLHUGHUH OD 6& ; 6$

Tabelul 3.1 (mil. lei) Nr. crt. 1. 2. 3. 4. 5. 6. 7. Perioada

6SHFLILFD LH SUHFHGHQW 3HULRDGD FXUHQW 3UHY ]XW

Cheltuieli de exploatare Cheltuieli financiare

&KHOWXLHOL H[FHS LRQDOH

TOTAL cheltuieli Venituri din exploatare Venituri financiare

9HQLWXUL H[FHS LRQDOH

TOTAL venituri Cheltuieli la 1000 lei venituri (lei) a) de exploatare b) financiare

F H[FHS LRQDOH

Pn-1 3000 250 150 3400 3680 (92) 160 (4) 160 (4) 4000 815,22 1562,50 937,50 850,00
UHSUH]LQW

P0 3500 300 170 3970 4218 (90) 328 (7) 141 (3) 4687 829,72 914,63 1205,67 847,00

Realizat P1 3800 280 180 4260 4630 (94) 196 (4) 99 (2) 4925 820,73 1428,56 1818,18 864,97

TOTAL
1RW SUHYHGH  FLIUHOH GLQ SDUDQWH] F  ID Q FD]XO GDW UH]XOW

VWUXFWXUD YHQLWXULORU

GH UHDOL] ULOH SHULRDGHL SUHFHGHQWH VH

R VSRULUH D HILFLHQ HL (respectiv, o diminuare a nivelului cheltuielilor), nregistrndu-VH vQ IDSW R VLWXD LH LQYHUV  6XE DVSHFW metodologic, o asWIHO GH VWDUH VH H[SOLF DVWIH  0RGLILFDUH ID GH FULWHULXO GH FRPSDUD LH

P0 Pn-1 847 850 = -3,0 lei

P1 P0 864,97 847 = + 17,97 lei

 ,QIOXHQ D VWUXFWXULL YHQLWXULORU

0,90 815,22 = 733,70 0,07 1562,50 = 109,38 28,12 0,03 937,50 = 871,2 871,2 850 = +21,20 lei;

0,94 829,77 = 779,98 0,04 914,63 = 36,59 24,11 0,02 1205,57 = 840,68 840,68 847 = - 6,32 lei

3 ,QIOXHQ D QLYHOXOXL FKHOWXLHOLORU OD  OHL YHQLWXUL SH FDWHJRULL GH venituri

847 871,20 =
$FHVWH GDWH DWHVW

24,20 3,0 lei

IDSWXO F

864,97 840,68 =

+ 24,29 + 17,97 lei

cheltuielilor pe seama reducerii cheltuielilor pe categorii de venituri, care a

vQUHJLVWUDW vQV FD IDFWRU GH LQIOXHQ  GH SULQFLSLX WUHEXLH FRQVLGHUDW FD XQ IDFWRU H[SOLFDUH D UH]XOWDWXOXL ILLQG R UH]XOWDQW RELHFWLY GDF H[LVW D GLQDPLFLL YHQLWXULORU $FH

V D DYXW vQ YHGHUH DPSOLILFDUHD HILFLHQ HL

R HYROX LH LQYHUV  Q FHHD FH SULYHWH VWUXFWXUD YHQLWXULORU GH

asta nu exclude posibilitatea folosirii acestui factor ca mijloc de realizare a unui

FRQGL LL IDYRUL]DQWH WUHEXLH DYXWH vQ YHGHUH D LQIOD LHL FHHD FH SUHVXSXQH FRUHFWDUHD Q DFWLYLWDWHD SUDFWLF

OXDUHD

vQ FRQVLGHUDUH

bazei de compDUD LH
VH DSURYL]LRQHD]

FX XQ FRHILFLHQW FDUH V

UHIOHFWH FRUHOD LD

GLQWUH FUHWHUHD SUH XULORU WXWXURU FDWHJRULLORU GH UHVXUVH FX FDUH vQWUHSULQGHUHD ,FKL L GLQDPLFD SUH XULORU SH VHDPD F URUD VH IRUPHD] 'DF ,FKL  L ,vi YHQLWXULOH ,vi

).

= 1

 DWXQFL ED]D GH FRPSDUD LH YD IL

(VWH HYLGHQW F  ID IL LQWHUYHQLW PRGLILF

110 847 = 887,3 lei. 105

GH DFHDVW

ED]

GH UDSRUWDUH UH]XOWDWXO RE LQXW V DU IL RE LQXW GDF QX DU

HVWH IDYRUDELO GDU HO WUHEXLH LQWHUSUHWDW vQ VHQVXO F

ULOH GH SUH XUL independente de ntreprindere.

H[SOLFDUHD SH ILHFDUH FDWHJRULH GH YHQLWXUL D HYROX LHL HILFLHQ HL vQ IXQF LH GH IDFWRULL VSHFLILFL FDUH R LQIOXHQ HD]  PDL DOHV vQ VLWXD LL FD FHD GLQ H[HPSOXO GDW vQ FDUH FKHOWXLHOLOH ILQDQFLDUH L FHOH H[FHS LRQDOH GHS

esF VXEVWDQ LDO YHQLWXULOH

0RGDOLW UHIOHFW

LOH GH DQDOL]

YRU IL SUH]HQWDWH SH SDUFXUV

Modificarea nivelului cheltuielilor totale la 1000 lei venituri se

vQ P ULPHD UH]XOWDWXOXL H[HUFL LXOXL vQDLQWH GH LPSR]LWDUH (IHFWXO VH GHWHUPLQ FX DMXWRUXO UHOD LHL

FHHD FH vQVHDPQ FRPSHQVDW

4925 vi (C1 C 0 ) = (864,57 847 ) = 88,5 mil. lei 1000 1000

R GLPLQXDUH D UH]XOWDWXOXL ID PDVD YHQLWXOXL FDUH SULQ FRQVWLWXLH R DOWHUQDWLY

GH FHO SUHY ]XW SULQ EXJHWXO QHIDYRUDELO SRDWH IL SHQWU

GH YHQLWXUL L FKHOWXLHOL (YLGHQW R DVHPHQHD LQIOXHQ

u un

anumit orizont. 3.2 Analiza cheltuielilor de exploatare

&KHOWXLHOLOH GH H[SORDWDUH GH LQ SRQGHUHD FHD PDL PDUH HOH ILLQG vQ OHJ WXU GLUHFW FX RELHFWXO GH DFWLYLWDWH DO vQWUHSULQGHULL FRQVWLWXLQG DVWIHO GRPHQLXO SULQFLSDO vQ FDUH VH SRW LQL LD L UHDOL]D FHOH PDL LPSRUWDQWH P VXUL GH VSRULUH D HILFLHQ HL HFRQRPLFH

Cheltuielile de exploatare cuprind, potrivit prevederilor art. 96 din

5HJXODPHQWXO GH DSOLFDUH D /HJLL FRQWDELOLW LL XUP WRDUHOH HOHPHQWH

cheltuieli privind consumurile de materii prime, materiale,

FRPEXVWLELO HQHUJLH L HOHPHQWH DVLPLODWH FKHOWXLHOLOH FKHOWXLHOL FX FX OXFU ULOH L VHUYLFLLOH L WD[HOH SUHVWDWH GH WHU L GH FKLULL ORFD LL GH JHVWLXQH DOWH FKHOWXLHOL

LPSR]LWHOH

VXSRUWDWH

XQLWDWHD

SDWULPRQLDO  Q

cheltuieli cu personalul; alte cheltuieli de exploatare.

DQDOL]D FKHOWXLHOLORU GH H[SORDWDUH VH IRORVHWH QLYHOXO ORU OD

1000 lei venituri din exploatare, ca parte a ntregului folosit anterior, XUP ULQGX-VH GLQDPLFD L PRGLILF ULOH LQWHUYHQLWH vQ VWUXFWXUD FKHOWXLHOilor. Acest lucru este important att pentru formarea imaginii asupra modului n care s-D UHDOL]DW SURJUDPXO VWDELOLW L vQ VSHFLDO SHQWUX LGHQWLILFDUHD
FDWHJRULLORU GH FKHOWXLHOL FDUH QHFHVLW R DWHQ LH GHRVHELW GH GLQ SDUWHD HVWH vQ

factorilor de decizie. ntruckW GLQDPLFD

FXQRVFXW IXQF LH GH GLQ SDUDJUDIXO QDWXUD

HILFLHQ HL DQWHULRU VH

FKHOWXLHOLORU YD SUH]HQWD SURGXF LHL

H[SORDWDUH D

DQDOL]D WRWDOH

VWUXFWXUDO 

FKHOWXLHOLORU

DIHUHQWH

H[HUFL LXOXL

ILQDQFLDU LQFOXVLY FRVWXO P UIXULORU YkQGXWH vQ FRUHOD LH FX YDORDUHD ORU

Q DFHVW VFRS SH ED]D GDWHORU GLQ FRQWXO GH SURILW L SLHUGHUH L DOWH VXUVH VH vQWRFPHWH WDEHOXO XUP WRU WDEHOXO 

):
Tabelul 3.2

Nr. crt.

6SHFLILFD LH

Cheltuieli la 1000 lei venituri din exploatare (lei Perioada

SUHFHGHQW 3UHY ]XW

0RGLILF UL

Realizat 444,55 85,37 27,58

col. 4 col. 2 +17,15 -1,45 -1,28

col. 4 col. 3 -5,32 -1,17 -1,05

1 2 3 4

&RVWXO P UIXULORU YkQGXWH

(ct. 607)
0DWHULL SULPH L PDWHULDOH

427,49 86,82 28,86

449,889 86,54 28,63

consumabile (ct. 600 + 601)

&RPEXVWLELOL HQHUJLH L DS

(ct. 605) Alte cheltuieli (ct. 602, 603, 604, 606, 608)
/XFU UL L VHUYLFLL H[HFXWDWH GH WHU L FW  OD  

11,07 8,09 178,76 55,41 1,10 17,62 815,22

8,30 8,80 181,20 43,15 23,23 829,72

F  ID IDF

12,48 11,90 165,40 51,22 1,23 21,00 820,73

+1,41 +3,81 -13,36 -4,19 +0,13 +3,38 +5,60

+4,18 +3,10 -15,80 +8,07 +1,23 -2,23 -8,99

ct. 621 la 628) 6 7 8 9 10

,PSR]LWH WD[H L Y UV PLQWH

asimilate (ct. 631 + 635) Salarii personal (ct. 641)

$VLJXU UL VRFLDO L SURWHF LH FW 

Alte cheltuieli de exploatare (ct. 654 + 658)

$PRUWL] UL L SURYL]LRDQH

(ct. 681) TOTAL

'LQ GDWHOH DVWIHO VWUXFWXUDWH UH]XOW WRWDO L FDWHJRULL GH FKHOWXLHOL ([FHS LH

GH SUHYHGHUHD GH FUHWHUH FKHOWXLHOL GDU QX DX

a cheltuielilor de exploatare la 1000 lei venituri, s-a realizat o reducere pe

XQHOH SRQGHUL vQVHPQDWH DOWH FKHOWXLHOL GH H[SORDWDUH DVLJXU UL L SURWHF LH VRFLDO

etc.). ntr-R DVHPHQHD VLWXD LH vQ DFWLYLWDWHD SUDFWLF  GLQ SXQFW GH YHGHUH metodologic, estH QHFHVDU V VH DQDOL]H]H ILHFDUH FKHOWXLDO  LQGLIHUHQW GH
HYROX LD HL vQ VFRSXO LGHQWLILF ULL SRVLELOLW IL SUH]HQWDW vQ DOWH SDUDJUDIH vQ LORU GH UHGXFHUH PHWRGRORJLD YD $QDOL]D HILFLHQ HL FKHOWXLHOLORU GH H[SORDWDUH SRDWH IL HIHFWXDW

raport de fRUPDUHD YHQLWXULORU L QLYHOXO FKHOWXLHOLORU SH FDWHJRULL GH YHQLWXUL

Q DFHVW VFRS GDWHOH QHFHVDUH VH SUH]LQW

DVWIHO

Tabelul 3.3 (mil. lei) Nr. crt. 1 2 3 4 5 6 7 8 9 10 11 Indicatori Venituri din exploatare, din care aferente:
3URGXF LHL YkQGXWH 3URGXF LHL VWRFDWH 3URGXF LHL LPRELOL]DWH

Perioada
SUHFHGHQW

3HULRDGD FXUHQW 3UHY ]XW

3680 3386 (92) 184 (5) 110 (3) 3000 2706 184 110 815,22 799,17 1000
UHSUH]LQW

4218 4007 (95) 42 (1) 169 (4) 3500 3289 42 169 829,72 820,81 1000
VWUXFWXUD

Cheltuieli din exploatare, din care aferente: 3URGXF LHi vndute

3URGXF LHL VWRFDWH 3URGXF LHL LPRELOL]DWH

Realizat 4630 4375 (94,5) 162 (3,5) 93 (2) 3800 3545 162 93 820,73 810,29 1000
vQ

Cheltuieli de exploatare la 1000 lei venituri (lei) din care aferente:

3URGXF LHL YkQGXWH $IHUHQWH SURGXF LHL VWRFDWH L LPRELOL]DWH

1RW

&LIUHOH

GLQ

SDUDQWH]

YHQLWXULORU

procente.
Q DQDOL]D FKHOWXLHOLORU GH H[SORDWDUH WUHEXLH V VWRFDW GRX VH LQ vQ IXQF LH GH FULWHULXO DPLQWLW VHDPD GH PRGXO GH IRUPDUH D YHQLWXULORU GLQ SURGXF LD  R FUHWHUH D SRQGHULL DFHVWRU SHQWUX D GHOLPLWD DIHUHQWH LQIOXHQ D SURGXF LHL L LPRELOL]DW  UHVSHFWLY HYDOXDUHD vQ FRVWXUL FHHD FH FRQGXFH OD XQ

QLYHO DO FKHOWXLHOLORU OD  OHL Q FRQVHFLQ

HOHPHQWH DUH FD HIHFW GLPLQXDUHD HILFLHQ HL FKHOWXLHOLORU GH H[SORDWDUH

Din puncW
VWUXFWXULL

GH

YHGHUH FHD D

PHWRGRORJLF QLYHOXOXL

YHQLWXULORU

GH

FKHOWXLHOLORU

YkQGXWH VH SURFHGHD]

FD vQ FD]XO SUHFHGHQW UHVSHFWLY VH IDFH UHFDOFXODUHD

cheltuielilor la 1000 lei venituri de exploatare. 1. Modificarea cheltuielilor la 1000 lei venituri din exploatare (lei), P0 Pn-1 829,72 815,22 = 14,50 lei P1 P0 820,73 829,72 = -8,99 lei

 ,QIOXHQ D VWUXFWXULL YHQLWXULORU GLQ H[SORDWDUH

0,95 799,17 = 759,21 50,0 0,05 1000 809,21 809,21 815,22 = -6,01 lei

0,945 820,81 = 775,67 55,0 0,055 1000 830,67 830,67 829,72 = +0,95 lei



,QIOXHQ D

FKHOWXLHOLORU

OD



OHL

YHQLWXUL

DIHUHQWH

SURGXF LHL

vndute 829,72 809,21 = +20,51

$QDOL]D GDWHORU HYLGHQ LD] vQ PLQXV VDX SOXV LQIOXHQ D IDSWXO F GH H[HUFLWDW

820,73 830,67 = -9,94

VWUXFWXUD YHQLWXULORU FRUHFWHD] QLYHOXO FKHOWXLHOLORU DIHUHQWH

SURGXF LHL YkQGXWH FDUH FRQVWLWXLH HOHPHQWXO SULQFLSDO DO FKHOWXLHOLORU GH

exploatare.
Q FHHD FH SULYHWH HYROX LD SURGXF LHL VWRFDWH L LPRELOL]DWH WUHEXLH V VH IDF GLVWLQF LH vQWUH YROXPXO IL]LF L FRVWXO DIHUHQW vQWUXFkW DFHVWHD DX FDX]H L L VDX HIHFWH FX GLIHULWH $VWIHO SRDWH IL FUHWHUHD VDX FX VF GHUHD UHDOL] ULOH GH IDFWRUL VWRFDWH UHVSHFWLY LPRELOL]DWH QDWXU FRPSDUDWLY VHPQLILFD LH SURGXF LHL

perioadHL

DQWHULRDUH

SUHYHGHULOH

GHWHUPLQDW

FRQMXQFWXUDOL DL SLH HL VDX GH DOW

VDX RS LXQH D FRQGXFHULL SHQWUX

realizarea unor obiective viitoare. Modificarea costurilor aferente este GHWHUPLQDW GH IDFWRUL VSHFLILFL UHIOHFWkndu-VH FRUHVSXQ] WRU vQ UH]XOWDWXO
H[HUFL LXOXL $VHPHQHD DVSHFWH SRW IL VROX LRQDWH SULQ FRUHODUHD GDWHORU GLQ FRQWDELOLWDWHD JHQHUDO DQDOLWLF  ILQDQFLDU  FX FHOH GLQ FRQWDELOLWDWHD GH JHVWLXQH

 $QDOL]D FKHOWXLHOLORU OD  OHL FLIU

GH DIDFH

ri
SULQ

3RWULYLW UHJOHPHQW ULORU vQ YLJRDUH FLIUD GH DIDFHUL VH FDOFXOHD]

vQVXPDUHD YHQLWXULORU UH]XOWDWH GLQ OLYU ULOH GH EXQXUL H[HFXWDUHD GH OXFU UL L SUHVW ULOH GH VHUYLFLL L DOWH YHQLWXUL GLQ H[SORDWDUH PDL SX LQ UDEDWXULOH L UHPL]HOH L DOWH UHGXFHUL DFRUGDWH FOLHQ LORU $UWLFROXO  GLQ 5HJXODPHQWXO GH DSOLFDUH D /HJLL FRQWDELOLW &D SULQFLSDO LL D FKHOWXLHOLORU OD  OHL YHQLWXUL GH DIDFHUL & SRW IL H[SULPDWH SDUWH FRPSRQHQW

GLQ H[SORDWDUH FKHOWXLHOLOH OD  OHL FLIU

cu ajutorul modelului:
C= qc 1000 qp

n care:
T S FDQWLWDWHD YkQGXW SUH XO PHGLX GH YkQ]DUH H[FOXVLY 79$

c = costul produselor

5HOD LD GH PDL VXV SRDWH IL VFULV

L DVWIHO

c C = g 1000 p

n care:
J VWUXFWXUD SURGXF LHL YkQGXWH VWDELOLW YDORULF

qp qp

c 1000 = nivelul cheltuielilor la 1000 lei pe produse p

'H DLFL UH]XOW FLIU F IDFWRULL FDUH LQIOXHQ HD] FKHOWXLHOLOH OD  OHL GH DIDFHUL VXQW VWUXFWXUD SURGXF LHL SUH XO PHGLX GH YkQ]DUH L ([HPSOLILFDUHD PHWRGRORJLHL GH DQDOL] QHFHVLW

costul

produselor.
XUP WRDUHOH GDWH

(tabelul 3.4):
Tabelul 3.4 (mil. lei) Nr. crt. 1 2 3 4 5 Indicatori Cifra de afaceri
3UHY ]XW

Realizat 4375 3546 4500 3672 810,51

FLIU

( qp)

4007

Cheltuieli aferente cifrei de afaceri

&LIUD GH DIDFHUL UHFDOFXODW

( qc) ( q1p 0 )
de afaceri recalculate

3289 820,81

Cheltuieli

( q1c 0 )

aferente

cifrei

&KHOWXLHOL OD  OHL FLIU

GH DIDFHUL OHL

ReducereD vQ FD]XO GDW DO QLYHOXOXL FKHOWXLHOLORU OD  OHL de afaceri de 10,30 lei (810,51  VH H[SOLF SULQ LQIOXHQ D
D 6WUXFWXULL SURGXF LHL YkQGXWH

q 1c 0 q0p0 1000 1000 sau C C 0 q 1p 0 q0p0 3672 3289 1000 1000 = 816 820,81 = 4,81 lei 4500 4007 Interpretat metodologic, acest rezultat FX VHPQLILFD LH
SR]LWLY VWUXFWXULL SURGXF LHL YkQGXWH YkQGXWH SRDWH UHQWDELOLWDWH SUHY ]XW PDL PDUH $D GXS IL FRQVLGHUDW FXP V DWkW

HFRQRPLF FX R

GH UHGXFHUH D FKHOWXLHOLORU OD  OHL HVWH XUPDUHD PRGLILF ULL vQ VHQVXO FUHWHULL SRQGHULL SURGXVHORU FD IDFWRU GH

-a mai precizat, structura

H[SOLFDUH

proGXF LHL

D UH]XOWDWXOXL FkW L GH UHDOL]DUH D XQXL RELHFWLY SUHY ]XW Q FRQVHFLQ DFWLYLWDWHD SUDFWLF HVWH DEVROXW QHFHVDU V vQ VWUXFWXUD

 vQ

VH SUHFL]H]H FRQGL LLOH vQ FDUH YkQGXWH DYkQGX

s-DX

SURGXV

PRGLILF ULOH

SURGXF LHL

-se n

YHGHUH HIHFWHOH PXOWLSOH GLUHFWH L LQGLUHFWH SH FDUH OH GHWHUPLQ  E 3UH XULORU PHGLL GH YkQ]DUH

q1c0 1000 qc0 1000 q1p1 q1p0

sau C C0

6F GHUHD ID FH vQVHDPQ GHFL]LL

3672 3672 100 1000 = 839,31 816,00 = +23,31 lei 4375 4500
vQ XOWLP OD LQVWDQ SROLWLFD

GH QLYHOXO SUHY ]XW D SUH XULORU PHGLL GH YkQ]DUH D GH DIDFHUL FHHD SH DQDOL]D VF GHUHD SURILWXOXL &D DWDUH DGRSWDUHD XQRU GH SUH XUL WUHEXLH V VH ED]H]H

FRQGXV OD R FUHWHUH D QLYHOXOXL FKHOWXLHOLORU OD  OHL FLIU UHIHULWRDUH

tuturor cauzelor care de vnzare.

GHWHUPLQDW GH

DX GHWHUPLQDW PLFDUHD vQ H[HPSOXO GDW D SUH XULORU PRGLILFDUHD SUH XULORU GH YkQ]DUH HVWH FHUHUH RIHUW 

Q JHQHUDO VH SRDWH VSXQH F VFKLPEDUHD

UDSRUWXOXL

SURGXF WRU L UHVSHFWLY RIHUWDQW GH SURGXVH PDUFD GH IDEULF LQWHUYHQ LD

/D QLYHOXO ILHF UXL pot fi identificate unele cauze

L VDX GH LPSRUWDQ QD LRQDO

FXP DU IL FDOLWDWHD SURGXVHORU LQFOXVLY SURGXVH GLIHUHQ LDWH SH FDOLW VWDWXOXL vQ FD]XO XQRU SURGXVH

SURGXF LH VDX FRPHU  VFKLPEDUHD GHVWLQD LHL SURGXVXOXL

VWUDWHJLF  DFRUGDUHD GH ERQLILFD LL VDX UHPL]H HWF

(3

Cunoscndu-se cauzele care au condus lD

PRGLILFDUHD

SUH XULORU

VH SRDWH VWDELOL HIHFWXO DVXSUD QLYHOXOXL FKHOWXLHOLORU OD  OHL FLIU

GH DIDFHUL SH ED]D UHOD LHL

q 1c 0 q 1c 0 1000 1000 q1p1 ( P) q1 p 0 PrHVXSXQkQG vQ H[HPSOXO GDW F  vQWUHSULQGHUHD

GLIHUHQ LDWH SH FDOLW L L F  vQ SHULRDGD WRWDO DQDOL]DW  GH

IDEULF

SURGXVH

SHQWUX

VWLPXODUHD

vQ]
FDOLW

ULORU D DFRUGDW ERQLILFD LL vQ VXP


DVWIHO

PLO OHL LQIOXHQ D

LL DVXSUD FKHOWXLHOLORU OD  OHL VH GHWHUPLQ

'HFL HIHFWXO FDOLW FLIU

3672 1000 816 = 814,91 816 = 1,09 lei 4375 + 131

LL vPEXQ W

LUHD DFHVWHLD FRQGXFH OD FUHWHUHD

SUH XOXL GH YkQ]DUH L LPSOLFLW OD VSRULUHD HILFLHQ HL FX  OHL OD  OHL GH DIDFHUL vQ WLPS FH DFRUGDUHD ERQLILFD LLORU V

-a materializat ntr-o

diminuare a acesteia cu 24,40 lei (23,31 + 1,09).

c) Costurilor pe produse q1c 0 q1c1 1000 1000 sau C1 C q 1p1 q 1 p1 3546 3672 1000 1000 = 810,51 839,31 = 28,80 lei 4375 4375
5HGXFHUHD FRVWXULORU SH SURGXVH D GHWHUPLQDW VSRULUHD HILFLHQ HL DVXSUD WXWXURU SRDWH FKHOWXLHOLORU OD  OHL FLIU VLWXD LHL HVWH QHFHVDU GHWHUPLQDW GH DIDFHUL

DLQ SXQFW GH YHGHUH PHWRGRORJLF SHQWUX R HGLILFDUH FRPSOHW

PRGLILFDUHD DFHVWRUD (VWH FXQRVFXW D LORU IDSWXO F SUH XO FDUH

DQDOL]D HOHPHQWHORU GH FKHOWXLHOL L D FDX]HORU FDUH DX FKHOWXLHOLORU VH

categoriilor de resurse este o compoQHQW

PRGLILFD LQGHSHQGHQW RE LQXW GH DFWLYLWDWHD XQLW

sau

vQ DFHVWH

FRQGL LL VH

LPSXQH R VHSDUDUH D DFHVWHL LQIOXHQ H GH FRQWULEX LD SURSULH OD UH]XOWDWXO

Metodologic, aceasta presupune: determinarea soldului modiILF ULORU GH FKHOWXLHOL LQGHSHQGHQWH de activitatea ntreprinderii (FK 6 SUHVXSXQHP vQ H[HPSOXO dat +22 mil. lei;
ch + 22 1000 = 1000 = +5,03 lei 4375 q 1p1
VWDELOLUHD QLYHOXOXL OD  OHL FLIU GH DIDFHUL

FRUHFWDUHD

LQIOXHQ HL

FRVWXULORU

SH

SURGXVH

FX

HIHFWXO

modifiF ULORU GH FKHOWXLHOL LQGHSHQGHQWH GH XQLWDWH -28,80 (+5,03) = -33,83 lei

,QIRUPD LLOH RE LQXWH vQ XUPD DFHVWHL PRGDOLW L GH DQDOL] GHRVHELW  VH UHFRPDQG SRW IL YDORULILFDWH vQ VLWXD LL PXOWLSOH GLQ FDUH QX VH H[FOXG VWXGLLOH GH IH]DELOLWDWH L GH HYDOXDUH vQ FDUH SDUWHD GH GLDJQRVWLF DUH R LPSRUWDQ 'DW vQ VLVWHPXO LQGLFDWRULORU GH DQDOL] ILLQG SR]L LD FKHOWXLHOLORU WRWDOH VDX DIHUHQWH FLIUHL GH DIDFHUL HFRQRPLFR ILQDQFLDU 

FXDQWLILFDUHD HIHFWHORU PRGLILF ULL QLYHOXOXL OD  OHL $VWIHO  OHL FLIU GH DIDFHUL VXQW

principalii

LQGLFDWRUL VLQWHWLFL vQ FDUH VH UHJ VHWH LQIOXHQ D PRGLILF ULL FKHOWXLHOLORU OD

a) Suma profitului nainte de impozitare q p (C1 C 0 ) 1 1 1000 1RW : Rezultatul poate fi detaliat pe factori potrivit metodologiei prezentate;

E (ILFLHQ D DFWLYHORU GH H[SORDWDUH $H

(C1 C 0 ) q1p1 Ae1

F (ILFLHQ D XWLOL] ULL DFWLYHORU IL[H YDORDUHD PHGLH DQXDO

Mf)

(C1 C 0 ) q1p1 Mf1

G (ILFLHQ D XWLOL] ULL FDSLWDOXULORU FDUH

pot fi proprii, totale, sociale

K);
(C1 C 0 ) q1p1 K1
G (ILFLHQ D XWLOL] ULL IRU HL GH PXQF SULQ SURILWXO PHGLX SH VDODULDW

(C1 C 0 ) N1

q 1 p1 1000

unde: N1

QXP UXO PHGLX GH VDODULD L

(ILFLHQ D DQDOL]D SRDWH IL

FKHOWXLHOLORU GHSODVDW vQ

DIHUHQWH DFHVW

FLIUHL

GH DO

DIDFHUL

HVWH

GH

fapt o


UHIOHFWDUH D UH]XOWDWHORU FDUH VH RE LQ vQ VWDGLXO SURGXF LHL Q FRQVHFLQ vQ VHJPHQW GH FLUFXOD LHL V VH

FDSLWDOXOXL IDEULFDW  VWDELOHDVF

folosindu-VH LQGLFDWRUXO Aceasta presupune ca,

DD GXS /HJLL &RQWDELOLW Q LL

FKHOWXLHOL OD  OHL SURGXF LH PDUI FRQWDELOLWDWHD JHVWLXQH

UH]XOWDWXO SRWHQ LDO DO H[SORDW ULL IRORVLQGX VH FRQWXUL L UH]XOWDWH DQDOLWLFH

FXP VH SUHFL]HD] DVHPHQHD

vQ $UWLFROXO  GLQ 5HJXODPHQWXO GH DSOLFDUH D PHWRGRORJLD GH DQDOL] SUH]HQWDW YL]HD]

FRQGL LL

SURGXF LD IDEULFDW

vQ FXUVXO H[HUFL LXOXL GDWHOH QHFHVDUH ILLQG IXUQL]DWH GH

FRQWDELOLWDWHD GH JHVWLXQH JUXSD  GLQ 3ODQXO GH FRQWXUL L EXJHWXO GH YHQLWXUL L FKHOWXLHOL

8WLOLWDWHD SUDFWLF DEVROXW QHFHVDUH GH

D XQHL DVHPHQHD DQDOL]H VH UHJ VHWH vQ FDOFXOH D FXDQWXPXOXL GH UHVXUVH PDWHULDOH L vQGHSOLQLUHD RELHFWLYHORU VWDELOLWH D FKHOWXLHOLORU OD  OHL FLIU GH DIDFHUL FX

SUHYL]LRQDUH

ILQDQFLDUH FDUH FRQGL LRQHD] $QDOL]D FRPSDUDWLY

cele aferente prodXF LHL IDEULFDWH SXQH vQ HYLGHQ PRGXO GH ILQDOL]DUH D P VXULORU WHKQLFR-RUJDQL]DWRULFH DGRSWDWH vQ VWDGLXO SURGXF LHL SHQWUX reducerea costurilor. Pentru exemplificare se folosesc datele:
Nr. crt. 1 2 3 4
0RGLILFDUH ID GH QLYHOXO SUHY ]XW ,QIOXHQ D VWUXFWXULL ,QIOXHQ D SUH XOXL PHGLX GH YkQ]DUH ,QIOXHQ D FRVWXOXL

Tabelul 3.5 cheltuieli la 1000 lei

FLIU GH DIDFHUL SURGXF LH IDEULFDW

-10,30 -4,81 +23,31 -28,80

-7,40 +3,80 +18,60 -29,80

Q VLWXD LD GDW  UH]XOWDWHOH RE LQXWH vQ SURGXF LH SH QLYHOXOXL FKHOWXLHOLORU OD  OHL VH UHIOHFW VWUXFWXUD SURGXF LHL VWRFDWH 'H DOWIHO DD

linia reducerii
L LQIOXHQ D

vQ WRWDOLWDWH vQ FHOH DIHUHQWH VH SRDWH H[SOLFD

FLIUHL GH DIDFHUL vQ FDUH VH UHJ VHVF L HIHFWHOH PRGLILF ULORU LQWHUYHQLWH vQ

structurii de 

OHL OD FLIUD GH DIDFHUL L  OHL OD SURGXF LD IDEULFDW 

SUHFXP L D FRVWXOXL 5HGXFHUHD SUH XOXL PHGLX GH YkQ]DUH GH SULQFLSLX VH FRQVWLWXLH vQWU XQ SXQFW VODE DO DFWLYLW LL ILUPHL GDF YkQ] ULORU (VWH HYLGHQW F  vQ DFWLYLWDWHD SUDFWLF ILH SUH]HQWDW vQ GHWDOLX

DFHDVWD QX D IRVW R RS LXQH SHQWUX R DVHPHQHD

promovarea

VLWXD LH WUHEXLH V

3.4 Analiza cheltuielilor variabile

Q FDGUXO FKHOWXLHOLORU GH H[SORDWDUH SDUWHD YDULDELO  UHVSHFWLY FHD FDUH HVWH GHSHQGHQW SUDFWLFD HFRQRPLF GH YROXPXO GH DFWLYLWDWH HVWH SUHGRPLQDQW  7HRULD L IRORVHVF QR LXQLOH GH GHSHQGHQ SURSRU LRQDO L

QHSURSRU LRQDO  VDX VWULFW L UHVSHFWLY QRQ VWULFW SURSRU LRQDO Q SULPXO FD] VXPD FRVWXULORU YDULDELOH VH H[SULP IXQF LD I4 SULQ UHOD LD D 4 XQde a = suma costurilor variabile pe produs, ar Q = cantitatea, iar in cel de al doilea prin

2S LXQHD SHQWUX IRORVLUHD vQ DQDOL] D FKHOWXLHOLORU YDULDELOH SRDWH IL MXVWLILFDW

L UHVSHFWLY SUDFWLFD HFRQRPLF SULQ vQ GH IXQF LH L GH OD JUDGXO GH

elaborarea politicii vn]

UHQWDELOLWDWH L vQ

ULORU

FRQVHFLQ

FRQWULEX LD

DFRSHULUHD

cheltuielilor comune; elaborarea bugetelor de costuri, necesare n buna gestionare a tuturor categoriilor de resurse;
VWDELOLUHD SROLWLFLL GH SURGXF LH GLQ SXQFW GH YHGHUH FDQWLWDWLY L

al termenului de realizare;
GHWHUPLQDUHD LPSRUWDQW vQ SUDJXOXL GH UHQWDELOLWDWH XQRU SUREOHP L L GHRVHELW FDWHJRULL GH GH GLPHQVLRQDUHD DFWLYLW

cheltuieli.
(YLGHQW SRW IL IRUPXODWH L XQHOH UH]HUYH vQ DFHVW VHQV GHWHUPLQDW

de:

LPSUHFL]LD VWDELOLULL YDULDELOLW LL GLIHULWHORU FDWHJRULL GH FKHOWXLHOL SRVLELOLWDWHD GH SUHYL]LRQDUH SH WHUPHQ VFXUW L OXQJ LPSDFWXO VLVWHPXOXL GH VDODUL]DUH DVXSUD FHORU GRX FDUH JUXSH VH LDX GH vQ L

cheltuieli (variabile sau fixe). Pentru activitatea practic  DFHVWHD

$QDOL]D FKHOWXLHOLORU YDULDELOH

VXQW

HOHPHQWH

FRQVLGHUDUH vQ DSUHFLHUHD XQRU UH]XOWDWH RE LQXWH vQWU R SHULRDG

H[SLUDW

IRUPXODUHD GHFL]LLORU GH FRUHF LH SHQWUX YLLWRU SRDWH DYHD vQ YHGHUH XUP WRDUHOH

probleme:

3.4.1 Anali]D
,QGLYLGXDOL]DW

GLQDPLFLL

VWUXFWXULL WRWDO vQ

FKHOWXLHOLORU  PRGDOLWDWHD

YDULDELOH

OD  OHL YHQLWXUL L FD VXP FD SUREOHP VH

vQVFULH

JHQHUDO

GH

DERUGDUH D vQWUHJXOXL UHVSHFWLY D WRWDOXOXL FKHOWXLHOLORU Q FRQVHFLQ

 VH YD

XUP UL L GLQDPLFD FKHOWXLHOLORU YDULDELOH WRWDOH L OD  OHL YHQLWXUL SH ED]D

datelor dLQ WDEHOXO XUP

WRU WDEHOXO 

).

Perioada Nr. crt. 1 2 3 4 5 6 7 8 Indicatori

SUHFHGHQW

3HULRDGD FXUHQW 3UHY ]XW

Tabelul 3.6 (mil. lei) %

Pn-1 Cheltuieli de exploatare variabile Cheltuieli variabile aferente cifrei de afaceri Cheltuieli variabile aferente cifrei de afaceri recalculate Venituri din exploatare Cifra de afaceri
&LIUD GH DIDFHUL UHFDOFXODW

P0 2386 2324 4218 4007 565,67 580

OD

Realizat P1 2546 2516 2495 4630 4375 4500 550 575

P1 P 0
106,70 108,26 109,77 109,18 97,22 99,14

1987 1896 1904 3680 3385 3300 540 560

Cheltuieli variabile la 1000 lei venituri din exploatare (lei) Cheltuieli variabile la 1000 lei
FLIU GH DIDFHUL

8UP ULQG

HYROX LD

FKHOWXLHOLORU

YDULDELOH



OH

i venituri din

H[SORDWDUH L UHVSHFWLY FLIU

GH DIDFHUL ID

GH UHDOL] ULOH DQXOXL SUHFHGHQW L

SUHYHGHUL DFHDVWD HVWH GLIHULW  $VWIHO V D SUHY ]XW R FUHWHUH D QLYHOXOXL

FKHOWXLHOLORU YDULDELOH OD  OHL VLWXD LH vQUHJLVWUDW

QXPDL OD FKHOWXLHOL GH GH DQDOL]  WUHEXLH

exploatare. ntr-XQ
V

DVHPHQHD FD] vQ DFWLYLWDWHD SUDFWLF

VH PRWLYH]H L H[SOLFH WRDWH HOHPHQWHOH DYXWH vQ YHGHUH SUHFXP L FHOH Q FHHD FH SULYHWH VWUXFWXUD FKHOWXLHOLORU YDULDELOH FD VXP WRWDO L

FDUH DX DS UXW SH SDUFXUV

lD  OHL DFHDVWD SRDWH YL]D QDWXUD FKHOWXLHOLORU LVDX ORFXO GH IRUPDUH (centre de responsabilitate), iar n cadrul acestora pe produse. O asemenea
DQDOL] HVWH QHFHVDU vQ VSHFLDO SHQWUX ORFDOL]DUHD P VXULORU GH UHGXFHUH D

costurilor.

3.4.2 Anali]D IDFWRULDO

DFWLYLWDWHD GH FRQGXFHUH SHUPLW

D FKHOWXLHOLORU YDULDELOH LPSRUWDQ vQWU GHRVHELW vQ

'LDJQRVWLFXO FKHOWXLHOLORU YDULDELOH SUH]LQW SHQWUX DVLJXUDUHD  UHQWDELOLWDWH FDUH V

vQFDGU ULL

SUDFWLFDUHD XQRU SUH XUL PHQLWH V

-un nivel de FRQGXF la

PHQ LQHUHD L HYHQWXDO FUHWHUHD FRWHL GH SLD $QDOL]D IDFWRULDO

SRDWH DYHD FD RELHFW QLYHOXO FKHOWXLHOLORU YDULDELOH

la 1000 lei venituri din exploatare (Cve), nivelul cheltuielilor variabile la

 OHL FLIU YDULDELOH DIHUHQWH SURGXF LHL IDEULFDWH 

qcv). n primul caz, poate fi folosit modelul gi cvi C ve = , 100

GH DIDFHUL &Y SUHFXP L vQV L VXPD DEVROXW

D FKHOWXLHOLORU

unde: gi = structura veniturilor; cvi = cheltuielile la 1000 lei venituri pe categorii de venituri. Metodologia GH VWDELOLUH D FHORU GRX LQIOXHQ H HVWH VLPLODU prezentate n analiza cheltuielilor totale la 1000 lei venituri. n cel de-al doilea caz se are n vedere modelul: qcv Cv = 1000, qp n care: cv = costul variabil pe unitate de produs vndut.
0RGLILFDUHD FKHOWXLHOLORU YDULDELOH OD  OHL FLIU QLYHOXO SUHY ]XW vQ H[HPSOXO GDW GH GH DIDFHUL ID

FHOHL

GH

 OHL VH H[SOLF - VWUXFWXULL SURGXF LHL YkQGXWH

SULQ LQIOXHQ D

q1cv0 1000 Cv0 = 2495 1000 580 = 554,40 580 = 25,6 lei 4500 q1p0
Cv 0 Cv 0

sau

- SUH XOXL PHGLX GH YkQ]DUH H[FOXVLY 79$

q1cv0 1000 q1cv0 1000 = 2495 1000 2495 1000 = 4375 4500 q1p1 q1p0
= 570,29 554,40 = +15,89 lei

sau

Cv0 - Cv0 - costul variabil pe unitate de produs

Cv1
1RW

q1cv0 1000 = 575 570,29 = +4,71lei q1p1

$VSHFWHOH PHWRGRORJLFH vQ H[HPSOXO GDW F UHGXFHUHD

sau
OD

Cv1 Cv 0
IDFWRULORU VH OD

UHIHULWRDUH

LQIOXHQ D

LQGHSHQGHQ L GH DFWLYLWDWHD XQLW UHIHU 5H]XOW  OHL FLIU

LL VXQW YDODELOH L DLFL FX PHQ LXQHD F FKHOWXLHOLORU YDULDELOH

QXPDL OD FKHOWXLHOLOH YDULDELOH GH DIDFHUL V

-a realizat exclusiv pe seama structurii proGXF LHL

YkQGXWH FHHD FH HYLGHQW DUH R VHPQLILFD LH SR]LWLY  GDW FHUHULL SHQWUX SURGXVHOH UHVSHFWLYH 'DU vQ SHUVSHFWLY SURGXVHOH FX FKHOWXLHOL WUHEXLH YDULDELOH PDL PDUL SHQWUX D GLPSRWULY  DF LRQDW SHQWUX UHGXFHUHD QX

ILLQG RQRUDUHD SLD D FL

QX WUHEXLH QHJOLMDWH SLHUGH SH VHDPD

FRVWXULORU

cheltuielilor variabile pe unitate de produs.

Q DFHVW PRPHQW VH SRDWH IDFH DQDOL]D FRPSDUDWLY  OHL FLIU GH DIDFHUL FX FHOH YDULDELOH $VWIHO D FKHOWXLHOLORU OD

Nr. crt. 1

Indicatori
0RGLILFDUHD ID LQIOXHQ HL GH QLYHOXO

Cheltuieli la 1000 lei

FLIU GH DIDFHUL

Tabelul 3.7 Cheltuieli variabile

OD  OHL FLIU GH

afaceri -5,0 lei

-10,17

SUHY ]XW OHL GLQ FDUH GDWRULW

2 3 4

6WUXFWXULL SURGXF LHL YkQGXWH 3UH XOXL PHGLX GH YkQ]DUH

-4,76 +23,31 -28,72

-25,6 +15,89 +4,71

Costului pe produs, respectiv costului variabil

6WXGLXO DFHVWRU GDWH FRPSOHWHD]

WDEORXO

UHIHULWRU

OD

VLWXD LD

cheltuielilor aferente cifrei de afaceri, putndu-se formula att punctele forte UH]XOWDWH SR]LWLYH FkW L FHOH VODbe (rezultate negative).
&D SXQFWH IRUWH SRW IL PHQ LRQDWH VSRULUHD HILFLHQ HL FKHOWXLHOLORU OD  OHL FLIU SH VHDPD FHORU YDULDELOH FkW L IL[H FUHWHUHD YkQ] ULORU OD SURGXVHOH FX UHQWDELOLWDWH SRWHQ LDO VXSHULRDU  UHGXFHUHD ID GH QLYHOXO SUHY ]XW D FRVWXULORU SH SURGXVH GDU GH DIDFHUL DWkW

numai pe seama cheltuielilor fixe.

&D SXQFWH VODEH VH UHPDUF  VF GHUHD SUH XOXL GH YkQ]DUH WUHEXLH LGHQWLILFDWH FDX]HOH FUHWHUHD FKHOWXLHOLORU YDULDELOH SH XQLWDWH GH SURGXV

Q IXQF LH GH DFHVWH HOHPHQWH VH VWDELOHWH FDGUXO GH DF LXQH SHQWUX SHULRDGD XUP WRDUH Q FHHD FH SULYHWH VXPD DEVROXW D FKHOWXLHOLORU YDULDELOH DIHUHQWH SH ED]D PDL

FLIUHL GH DIDFHUL VDX SURGXF LHL IDEULFDWH SRDWH IL DQDOL]DW PXOWRU PRGHOH IXQF LH GH FRQGL LLOH FRQFUHWH

din unitate. Astfel, la nivelul

vQWUHJLL SURGXF LL IDEULFDWH VH SRDWH IRORVL PRGHOXO

Chv = Of Cv
n care: Chv = Qf =
VXPD DEVROXW SURGXF LD WUHEXLH QLYHOXO V VWDELOHDVF

1 , 1000
H[SULPDW GH OD vQ SUH vQ OHL GH YkQ] JUXSD

D FKHOWXLHOLORU YDULDELOH DIHUHQWH SURGXF LHL IDEULFDWH IDEULFDW

PDUI

are (unitatea
VDX V VH IDEULFDW

IRORVHDVF

FRQWXUL YDULDELOH

YHQLWXUL 



H[WUDFRQWDELO SURGXF LH

Cv =
H[SOLF

FKHOWXLHOLORU

(s-D PHQ LQXW VLPEROL]DUHD SHQWUX VLPSOLILFDUH

0RGLILFDUHD ID SULQ LQIOXHQ D GH R ED] GH UDSRUWDUH QRWDW

FX  

chv), se

1) volumului de activitate Cv (Qf1 Qf 0 ) 0 1000

Qf1 (Cv1 Cv 0 ) 1000

 QLYHOXOXL FKHOWXLHOLORU YDULDELOH OD  OHL SURGXF LH IDEULFDW

GLQ FDUH GDWRULW

PRGLILF ULL IDEULFDW

E SUH XOXL PHGLX GH YkQ]DUH IRORVLW vQ HYDOXDUHD SURGXF LHL

a) structurii SURGXF LHL PDUI Qf1 (Cv 0 Cv 0 ) 1000

Qf1 (Cv 0 Cv 0 ) 1000 c) cheltuielii variabile pe unitate de produs Qf1 (Cv1 Cv 0 ) 1000
8Q DVHPHQHD PRGHO GH DQDOL] HVWLPDUHD FKHOWXLHOLORU YDULDELOH UH]XOWDWXOXL EUXW DO H[SORDW ULL HVWH XWLO vQ DFWLYLWDWHD SUDFWLF QHFHVDU vQ SHQWUX RSHUD LXQH GHWHUPLQDUHD VDX OD

nivelul unui centru de cheltuieli, se poate utiliza modelul Chv = qcv, unde: q = SURGXF LD IDEULFDW cv = costul variabil pe produs

Q FD]XO SURGXF LHL RPRJHQH SHQWUX WRDW

SURGXF LD IDEULFDW

3RWULYLW DFHVWXL PRGHO IDFWRULL GLUHF L GH LQIOXHQ SURGXF LH VWUXFWXUD IL]LF

VXQW FDQWLWDWHD GH

L FRVWXO YDULDELO SH XQLWDWH GH SURGXV WRDUHOH GDWH WDEHOXO 

Pentru exemplificare sunt necesarH XUP

Nr. crt. Produs um

):

Tabelul 3.8

1000 2000 2500 5500

Cantitatea Realizat

Cheltuieli variabile Pe produs 

Total 
mii lei Realizat Realizat

1 2 3

A B C TOTAL

t0 t0 t0 t0

1200 1900 2500 5600

4000 10000 5000 6636

4500 9000 5000 6250

4000 20000 12500 36500

5400 17100 12500 35000

chv = 35000 36500 = -1500 mii lei,

GLQ FDUH GDWRULW LQIOXHQ HL D SURGXF LHL

Q1 cv 0 (q 0 cv 0 ) = 5600 6636 36500 = +662 mii lei

Q1 sau Chv 0 Q 1 0 E VWUXFWXULL SURGXF iei

36300 37162 = 862 mii lei c) costurilor variabile pe produse (q1cv1 ) (q1cv 0 ) = 35000 36300 = 1300 mii lei
$FHDVW PHWRGRORJLH GH DQDOL] HVWH XWLO

(q1cv1 ) Q1 cv0 = (1200 4 + 1900 10 + 2500 5) 5600 6636 =

DWkW vQ H[SOLFDUHD XQHL

VLWXD LL GDWH FkW vQ VSHFLDO vQ RSHUD LXQHD GH EXJHWDUH D FKHOWXLHOLORU SH

centre de responsabilitate.
 (VWLPDUHD HYROX LHL SUREDELOH D FKHOWXLHOLORU YDULDELOH Q SURFHVXO GH FRQGXFHUH WRWDOH VDXL D OD vQWUHSULQGHULL  LL OHL SULQ FLIU HVWLPDUHD GH HYROX LHL SRDWH L

FKHOWXLHOLORU

YDULDELOH vQ FD]XO

DIDFHUL GH

interveni:
SUHYL]LRQ ULL DFWLYLW EXJHWXO YHQLWXUL FKHOWXLHOLOH GH OD R SHULRDG OD DOWD

n studiile de fezabilitate (ntocmite n scopuri diferite) pentru

GHWHUPLQDUHD UH]XOWDWXOXL H[SORDW ULL

vQ RSHUD LXQL GH HYDOXDUH HFRQRPLF vQ VLWXD LLOH GH DQJDMDUH SH S EHQHILFLDULORU GDF H[LVW UH]HUY VDX

D vQWUHSULQGHULL

arcursul anului a unor comenzi ale

GH FDSDFLWDWH GH SURGXF LH LPSXVH GH DQXPLWH FRQGL LL

SHQWUX DGRSWDUHD XQRU P VXUL GH vQFDGUDUH vQ FXUVXO H[HUFL LXOXL vQ QLYHOXULOH SUHVWDELOLWH

obiective.
6LWXD LLOH SUH]HQWDWH

nu sunt limitative, ci explicative, activitatea

vQWUHSULQGHULL ILLQG VXILFLHQW GH GLYHUVLILFDW  &D PRGDOLW L SUDFWLFH GH VROX LRQDUH SRW IL PHQ LRQDWH SH ED]D QLYHOXOXL OD  VDX  OHL FLIU GH

HVWLPDUHD

afaceri, avnd n vedere caracterul lor conVWDQW GDF VH HOLPLQ factorul dimensional (este procedeul cel mai frecvent utilizat). Deci 1 Chv = (CA Cv 0 ) 1000 1RW : Chv = cheltuielile variabile previzionate; CA = cifra de DIDFHUL SUHYL]LRQDW VDX 4I SURGXF LD PDUI  &Y0 = nivelul cheltuielilor
YDULDELOH OD  OHL FLIU FUHWH FX   GH DIDFHUL UHDOL]DW 

Exemplu 6H HVWLPHD]

F  vQ SHULRDGD XUP WRDUH FLIUD GH DIDFHUL YD

CA = 4375 mil. 1,10 = 4812,5 mil. lei Chv = 4812,5 0,55 = 2646,9 mil. lei
Q FD] GH LQIOD LH OXDW vQ FDOFXOXO FLIUHL GH DIDFHUL VH DGPLWH F LQIOD LD DIHFWHD] WUHEXLH FXPS UDUH ,c L FKHOWXLHOLORU DO YDULDELOH GH FRUHFWDW FHO L FX DO vQ DFHHDL SURSRU LH 'DF VXPD PHGLX SUH XULORU QLYHOXO DWXQFL LQGLFHOH

FKHOWXLHOLOH VH PRGLILF GH UHQWDELOLWDWH GLQWUH UDSRUWXO

SUH XULORU GH YkQ]DUH ,p 'DF

Ic = 1,02, suma cheltuielilor variabile va fi Ip

FLIUHL GH DIDFHUL FDUH HVWH GLIHULW

circa: 2700 mil. lei (2646 1,02).

6XPD DVWIHO VWDELOLW HVWH DIHUHQW  VH GH SURGXF LD IDEULFDW  Q FRQVHFLQ 'DF DFHVW UDSRUW HVWH GH 

face corectarea cu raportul

FKHOWXLHOLOH

Qf . CA
WRDWH IDSW

DWXQFL

SURGXF LHL IDEULFDWH YRU IL GH  PLO OHL  'DU VSRULUHD FHHD FH SURGXF LHL FRQGXFH OD QX VH YD

UHDOL]D vQ

0,95).

YDULDELOH

DIHUHQWH

SURSRU LRQDO

OD

produselH

PRGLILF UL

VWUXFWXUD

DFHVWHLD

FH

LQIOXHQ HD]

FKHOWXLHOLOH

YDULDELOH OD

FRQVHFLQ OHL

HVWH vQ

QHFHVDU IXQF LH GH

UHFDOFXODUHD

FKHOWXLHOLORU &L0

YDULDELOH



SURGXF LH

VWUXFWXUD SUHYL]LRQDW SHULRDGD SUHFHGHQW

J L FKHOWXLHOLOH OD 

lei pe produse realizate n

).

1 Cv = ( g Ci 0 ) 100
Tabelul 3.9
6WUXFWXUD SURGXF LHL

Produs Nr. crt. 0 1 2 3 4 A B C D TOTAL

g0 1 20 25 15 40 100

g 2 22 1 15 48 100

Cheltuieli la 1000 lei pe produse (Ci0) 3 510 500 600 545 550

Cheltuieli recalculate

1 4 = (2 3) 100
112,2 75,0 90,0 261,6 538,8

QWUXFkW VWUXFWXUD SURGXF LHL V FKHOWXLHOLOH PDL PLFL L VXPD WRWDO

-a modificat n favoarea produselor cu

D  E[ vQ FDUH \ FLIUD GH DIDFHUL WRU WDEHOXO  VXPD 3HQWUX

YD IL VXE QLYHOXO FHOHL VWDELOLWH DQWHULRU

ceea ce va PLFRUD HIRUWXO XQLW

DEVROXW D FKHOWXLHOLORU

LL LDU [

(VWLPDUHD FX DMXWRUXO IXQF LHL OLQHDUH \ YDULDELOH

exemplificare sunt necesare datele din WDEHOXO XUP

Cheltuieli variabile (y) mil. lei 931,7 1200,2 1484,2 1895,6 2515,6 8027,3 Cifra de afaceri (x) mil. lei 1552,8 2034,2 2603,8 3385 4375 13950,8

):

Tabelul 3.10 Perioada 1 2 3 4 5 n xy 1446744 2441040 3864560 6416606 11005750 25174700 x2 2411188 4137970 6779774 11458225 19140625 43927782 y = a + bx 889,8 1165,6 1492,0 1940,0 2506,9 X

x = na + b x

xy = ax + b x

de unde:

a=

n x 2 ( x )2 352608,306 351207,205 1401,101 = = = 0,00638 219444,29 219444,29

b=
'DF

2 y x x xy

8,027 43927,782 13,9508 25,1747 = 5 43927,782 194,62

n xy x y n x ( x )
2 2

5 25174,7 13,9508 8,0273 = 0,53 219444,29

OD  PLO OHL VXPD FKHOWXLHOLORU  PLO OHL FHHD FH UHSUH]LQW 

variabile va fi: 0,00638 + 5000

 OHL OD  OHL FLIU (VWLPDUHD SH ED]

FLIUD GH DIDFHUL VH HVWLPHD]

GH DIDFHUL GH FDOFXOH DQDOLWLFH SH FDWHJRULL GH FKHOWXLHOL L ILH

UHVSHFWLY SURGXVH vQ IXQF LH GH HOHPHQWHOH QHFHVDUH L FDUH WUHEXLH V

cunoscute.

 $QDOL]D UHIOHFW

ULL QLYHOXOXL FKHOWXLHOLORU YDULDELOH OD  OHL

asupra principalilor indicatori economico-financiari

Q SUDFWLFD HFRQRPLF  HVWH QHFHVDU V VDX HVWLPDWH DOH PRGLILF ULL QLYHOXOXL YHQLWXUL UHVSHFWLY FLIU GH DIDFHUL HIHFWHOH PHQ LRQDWH VXQW ILH DQDOL]DWH HIHFWHOH SURGXVH YDULDELOH OD  OHL FKHOWXLHOLORU

3ULQFLSDOLL LQGLFDWRUL vQ FDUH VH UHIOHFW 5H]XOWDWXO H[SORDW ULL

Ve (Cv1 Cv 0 ) 1 1000
5DWD UH]XOWDWXOXL H[SORDW ULL

(Cv1 Cv 0 )

(ILFLHQ D DFWLYHORU GH H[SORDWDUH $H

(Cv1 Cv 0 )Ve1
Ae1

(ILFLHQ D PLMORDFHORU IL[H

(Cv1 Cv 0 )Ve1
Mf1

(ILFLHQ D FDSLWDOXOXL

K1 Profitul brut pe salariat Ve (Cv1 Cv 0 ) 1 1000 N1

(Cv1 Cv 0 )

Ve1 1000

3.5 Analiza cheltuielilor fixe

&KHOWXLHOLOH IL[H VDX FRQVWDQWH SULQ GHILQL LH FRQVWLWXLH R SUHPLV R FRQVHFLQ D VDX GHVI XU ULL YkQ] ULOH XQHL FL DQXPLWH DFWLYLW SURSRU LRQDO DQXPLWH OLPLWH L $FHDVWD vQVHDPQ VDX QHSURSRU LRQDO HOH U PkQ IL[H GHSHQGHQ vQ L F FX VDX

unele cheltuieli nu sunt n

SURGXF LD

independente. Un exemplu l constituie cheltuielile cu amortizarea care, la XQ QLYHO GDW GH GRWDUH WHKQLF  QX VH PRGLILF  GHL SULQ PDL Euna folosire a
XWLODMHORU VH SRDWH RE LQH R SURGXF LH VXSOLPHQWDU  'DU RGDW FDSDFLW LL GH SURGXF LH DFWLYLW L UHVSHFWLY FRPHUFLDOL]DUH VH FX VSRULUHD DWkW PRGLILF SURGXF LD FkW L FKHOWXLHOLOH FX DPRUWL]DUHD 6XQW DOWH FDWHJRULL GH FKHOWXLHOL

indispensabile
FHO DO

LL vQWUHSULQGHULL DO F URU YROXP HVWH LQGHSHQGHQW GH DU IL FKHOWXLHOLOH IL[H JHQHUDOH L GH DGPLQLVWUD LH FDUDFWHUL]HD] L vQ

SURGXF LHL 5DSRUWXO

FXP

conducere.
GLQWUH FKHOWXLHOLOH YDULDELOH

activitatea
PDUL GDF

SUDFWLF

DD QXPLWD VWUXFWXU

GH H[SORDWDUH L VHUYHWH OD DQDOL]D SUDFWLFH SUH XUL UHDOL]H

ULVFXOXL RSHUD LRQDO FD R FRPSRQHQW

D ULVFXOXL JOREDO DO ILUPHL )LUPHOH FDUH

DX FKHOWXLHOL PDUL GH UHJLH SHQWUX D IXQF LRQD WUHEXLH V YROXP PDL PDUH GH SURGXF LH

SLD D L FRQFXUHQ D SHUPLW DFHVW OXFUX VDXL V

ze un
Q

Analiza cheltuielilor fixe nu constituie un scop n sine ci este

VXERUGRQDW FRQVHFLQ VLWXD LHL XQXL RELHFWLY UHVSHFWLY ED]HL VSRULUHD GH HILFLHQ HL vQFkW V DFHVWRUD  SUREOHPDWLFD WUHEXLH V QHFHVDUH vQ DVLJXU ULL DFHVW H[LVWHQWH ILH DVWIHO VWUXFWXUDW SHQWUX D RIHUH VROX LL DVXSUD GHFL]LLOH

meWRGRORJLFH

LQIRUPDUH SXWHD

FRPSOHWH DGRSWD

GRPHQLX

FRUHVSXQ] WRDUH

Principalele probleme ale analizei cheltuielilor fixe sunt:

 $QDOL]D GLQDPLFLL L VWUXFWXULL F

heltuielilor fixe
SHQWUX D FXQRDWH L VLPLODUH vQ P VXULOH

6WXGLHUHD GLQDPLFLL FKHOWXLHOLORU IL[H HVWH QHFHVDU VLWXD LD GDW P VXUD vQ 3HQWUX ID GH HYROX LD QRUPDO DFHVWHD SRW L UHDOLW IL

HYROX LD vQ UDSRUW FX FLIUD GH DIDFHUL VDX FX SURGXF LD IDEULFDW  Q IXQF LH GH LOH GLQ DOWH XQLW VH XUP FDUH R FXQRVFXWH V DX H[WUDV DGRSW

FRUHVSXQ] WRDUH VRFLHWDWH FRPHUFLDO

toarele date: (din

tabelul 3.11)
Perioada Cheltuieli fixe (mil. lei) mil. lei 1 2 3 4 5
'LQ FKHOWXLHOLORU
&LIU GH DIDFHUL

(mil. lei) mil. lei 1553 2034 2604 3385 4375

UH]XOW FLIUD GH

% 100,0 134,9 110,0 100,2 129,8

GDWHORU UDSRUW GH

% 100 131,0 128,0 130,0 129,0

590 796 876 878 1140

DQDOL]D IL[H vQ

Tabelul 3.11 Ponderea cheltuielilor fixe n totalul cheltuielilor (%) 32,0 35,3% 34,5 25,4 32,2
FD

FRPSRUWDPHQWXO DIDFHUL

racteristic al
XQRU

UHVSHFWLY

H[LVWHQ D

VDOWXUL DWXQFL FkQG LQWHUYLQ PRGLILF UL LPSRUWDQWH vQ YROXPXO GH DFWLYLWDWH D

firmei.
Q FHHD FH SULYHWH VWUXFWXUD GH H[SORDWDUH VDX RSHUD LRQDO  DFHDVWD

nu preziQW
GRPHQLXOXL SUHVXSXVH VWDELOHDVF D

YDULD LL vQ FDUH ID D IL

vQVHPQDWH DFWLYHD] GH DOWH vQ

HD

vQVFULLQGX HVWH R VLWXD LD

-se n limitele caracteristice

SH ED]D XQRU V GDWH VH XQLWDWH HVWH R SUH]LQW QHFHVDU DEDWHUL

ILUPD 'DF

DILUPD LH GLQ

FXQRVFXWH

VHPQLILFDWLYH (WDSD

vQWUHSULQGHUL DQDOL]D

VLPLODUH IL[H

HIHFWHOH SH FDUH OH JHQHUHD] XUP WRDUH

L P VXULOH FDUH VH LPSXQ FRQVWLWXLH DQDOL]D

FKHOWXLHOLORU

structurii acestora, pe categorii de cheltuieli (natura lor), respectiv DPRUWL] UL VDODULL PDWeriale etc., centre de responsabilitate (localizare n
VSD LX FULWHULX VDX GH IXQF LXQL JUXSDUH SURGXF LH DUH R FRPHUFLDOL]DUH VHPQLILFD LH DGPLQLVWUD LH vQ VSRULUHD )LHFDUH DQXPLW HILFLHQ HL

cheltuielilor fixe.



$QDOL]D

IDFWRULDO

FKHOWXLHOLORU

IL[H

OD



OHL

FLIU

de afaceri
'DW ILLQG FDUDFWHUXO UHODWLY FRQVWDQW DO DFHVWRU FKHOWXLHOL HILFLHQ D ORU SRDWH IL DQDOL]DW SULQ QLYHOXO ORU OD  OHL FLIU GH DIDFHUL &I IRORVLQG

modelul:

Cf =

F 1000 CA

n care: F = suma absolXW D FKHOWXLHOLORU IL[H CA = FLIUD GH DIDFHUL VLPEROL]DW L SULQ qp).
([HPSOLILFDUHD PHWRGRORJLHL GH DQDOL]

QHFHVLW

XUP WRDUHOH GDWH

Tabelul 3.12 (mil. lei) Nr. crt. 1 2 3 4 Indicatori Suma cheltuielilor fixe Cifra de afaceri
&LIUD GH DIDFHUL UHFDOFXODW &KHOWXLHOL IL[H OD  OHL FLIU GH DIDFHUL 3UHY ]XW

Realizat 1140 4375 4500 260,5

lei -

965 4007 X 240,83

)D QLYHOXO ORU

GH SUHYHGHUL VH vQUHJLVWUHD] OD  OHL FLIU GH

R PDMRUDUH D FKHOWXLHOLORU IL[H FX  O

DIDFHUL FUHVFkQG

ei (260,57
D ILUPHL FX

240,83).
8Q DVHPHQHD UH]XOWDW DIHFWHD] WRDWH FRQVHFLQ HOH FDUH GHFXUJ $QDOL]D IDFWRULDO WUHEXLH V SHUPLWH HYLGHQ LHUHD SULQFLSDOHORU GLUHF LL vQ FDUH VH DF LRQH]H Q FRQVHFLQ GH DIDFHUL   PRGLILFDUHD QLYHOXOXL SULQ LQIOXHQ D UHQWDELOLWDWHD JHQHUDO

IL[H OD  OHL FLIU

&I VH H[SOLF

cheltuielilor

1. Cifrei de afaceri
F0 F 965 965 1000 0 1000 = 1000 1000 = CA1 CA 0 4375 4007

= 220,57240,83 = 20,26 lei

GLQ FDUH GDWRULW  D SURGXF LHL YkQGXWH

F0 F 965 965 1000 0 1000 = 1000 1000 = CA 4500 4007 q1p 0 0

= 214,44 240,83 = 26,39 lei

E SUH XULORU PHGLL GH YkQ]DUH

F0 1000 CA1

F0 965 965 1000 = 1000 1000 = 4375 1500 q1p 0

= 220,57 214,44 = + 6,13 lei 2. Sumei cheltuielilor fixe F F1 1000 0 1000 = 260,57 220,57 = +40 lei CA1 CA1
Q FD]XO ILUPHL DQDOL]DWH FUHWHUHD FKHOWXLHOLORU IL[H OD  OHL ID GH SUHYHGHUL HVWH GHWHUPLQDW GH FXDQWXPXO ORU FDUH D DYXW R HYROX LH VXSHULRDU FLIUHL GH DIDFHUL OD FDUH DX FRQWULEXLW L SUH XULOH GH YkQ]DUH

Din punct de vedere metodologic, trebuie identificate cauzele care au determinat amplificarea sumei cheltuielilor fixe, de principiu, cu titlu de
H[HPSOX DFHVWHD YL]HD] 

VFKLPE UL vQ VLVWHPXO GH DPRUWL]DUH D DFWLYHORU IL[H VFKLPE UL vQ VLVWHPXO GH VDODUL]DUH SUHFXP L FUHWHUHD VDODULLORU GHWHUPLQDW FUHWHUHD JHQHUHD] GHWHUPLQ  GH UDWD LQIOD LHL L SUH XULORU HOHPHQWHORU PDWHULDOH FDUH

FRQVXPXOXL FK

eltuielile fixe, n raport de factorii specifici care le

3.5.3 Estimarea nivelului probabil al cheltuielilor fixe

$FWLYLWDWHD LPSOLF VXP WRWDO FXUHQW GH JHVWLXQH D SDWULPRQLXOXL XQHL vQWUHSULQGHUL GH L SUREOHPD SUHYL]LRQ ULL WHQGLQ HL GH HYROX LH D F

heltuielilor fixe ca
LL D

L QLYHO OD  VDX  OHL YHQLWXUL GLQ H[SORDWDUH FLIU

DIDFHUL HWF 0RPHQWHOH vQ FDUH WUHEXLH V

VH UHDOL]H]H DVHPHQHD RSHUD LXQL

VXQW QXPHURDVH L LPSRUWDQWH vQ DFHODL WLPS SHQWUX YLDELOLWDWHD XQLW

Pe terPHQ

VFXUW

GH H[HPSOX GH OD XQ DQ OD DOWXO VXPD WRWDO FRQVWDQW  GDF QX LL FX HIHFWHOH JHQHUDWH GH GHFL]LLOH

FKHOWXLHOLORU IL[H ) VH FRQVLGHU LPSRUWDQWH vQ DFWLYLWDWHD XQLW FXUHQW  6XPD VH FRUHFWHD]

LQWHUYLQ PRGLILF UL

Deci, nivelul probabil (F)=F0, respectiv cel realizat n perioada

DGRSWDWH

SHQWUX SHULRDGD XUP WRDUH

De exemplu: VH SUHFRQL]HD]

DFKL]L LRQDUHD

XQRU

QRL

PDLQL

XWLODMH

ILH

SHQWUX vQORFXLUHD FHORU YHFKL ILH SHQWUX H[WLQGHUHD FDSDFLW

LL GH

SURGXF LH HIHFWXO VH UHIOHFW

vQ FKHOWXLHOLOH FX DPRUWL]DUHD L DOWH

FKHOWXLHOL GH vQWUH LQHUH L UHSDUD LH

VH PDMRUHD]

VDODULLOH SHUVRQDOXOXL DGPLQLVWUDWLY L GH FRQGXFHUH

VDX D XQHL S U L SHQWUX VWLPXODUHD XQRU GRPHQLL VH UHRUJDQL]HD] DQXPLWH DFWLYLW L GH SUH]HQWDUH UHFODP 

QWUH LQHUH L UHSDUD LL HWF

GH DIDFHUL VDX YHQLWXUL GLQ H[SORDWDUH

Q ILHFDUH FD] VH LPSXQH HVWLPDUHD HIRUWXULORU L D HIHFWHORU SHQWUX D YHGHD FRQVHFLQ HOH GHFL]LLORU DGRSWDWH &D QLYHO OD  OHL FLIU

respectiv totale), cheltuielile pot fi estimDWH SH ED]D UHOD LHL 1 Cf = Cf 0 , Iq unde: Iq = indicele cifrei de afaceri sau a veniturilor Exemplu:
3HULRDGD FXUHQW

1. Cifra de afaceri mil. lei 2. Cheltuieli fixe mil. lei 3. Cheltuieli fixe la 1000 lei
'DF  PLO OHL GHFL R FUHWHUH GH  

4375 1140 260,57

GH DIDFHUL GH

SHQWUX SHULRDGD XUP WRDUH VH SUHYHGH R FLIU

Cf = 260,57
2 DOW  OHL FLIU GH DIDFHUL FD

1 = 228,01 lei 1,1428

SH FRUHOD LD GLQWUH FLIUD FKHOWXLHOLORU IL[H OD [ L QLYHOXO

PRGDOLWDWH GH HVWLPDUH D QLYHOXOXL SUREDELO GH FKHOWXLHOL OD GH DIDFHUL HVWH DFHHD FDUH VH ED]HD] YDULDELO LQGHSHQGHQW GHSHQGHQW \ IRORVLQG

 OHL FD YDULDELO

IXQF LD

y=a +

b . x

Pentru exemplificare (tabelul 3.13):

y lei 379,89 382,11 380,57 259,27 260,59 1662,43

se

folosesc

datele

din

WDEHOXO

XUP WRU

Tabelul 3.13 Perioada 1 2 3 4 5 n cifra de afaceri miliarde lei 1,6 2,0 2,6 3,4 4,4 14,0 x2 2,56 4,00 6,76 11,56 19,36 44,24

1 x
0,625 0,500 0,385 0,294 0,227 2,031

1 x
2
0,391 0,250 0,148 0,086 0,052 0,927

y x
237,43 191,06 146,37 76,26 59,23 710,35

y=a +
407,74 364,77 286,63 293,98 270,99 x

b x

(FXD LD SUHVXSXQH VLVWHPXO

y = na + b

1 x

de unde:

1 y 1 = a + b 2 x x x

y 1 1 y 2 x x 1662,43 0,927 2,031 710,35 x a= = = 2 5 0,927 2,032 2 1 1 n x2 x 1541,073 1442,721 98,352 = = = 192,85 4,635 4,125 0,51 y 1 n y x x = 5 710,35 1662,43 2,031 = b= 2 0,51 1 1 n x2 x 3551,75 3376,395 = = 343,83 0,51 343,83 = 261,62 lei 'DF [  PLO OHL y = 192,85 + 5

 (VWLPDUHD VLQWHWLF 6WDELOLUHD QLYHOXOXL

D FKHOWXLHOLORU OD  OHL FLIU DO FKHOWXLHOLORU OD 

GH DIDF OHL FLIU

eri
GH

SUREDELO

DIDFHUL VDX SURGXF LH IDEULFDW  FRQVWLWXLH XQ LPSHUDWLY DO FRQGXFHULL SULQ FRVWXUL vQ YHGHUHD SUHYHQLULL ULVFXOXL GH H[SORDWDUH VDX RSHUD LRQDO

Pe baza calculelor analitice pentUX FHOH GRX FDWHJRULL GH FKHOWXLHOL VH GHWHUPLQ QLYHOXO FKHOWXLHOLORU OD  OHL FLIU GH afaceri, respectiv, C = Cv + Cf. C Raportul 100 1- UHSUH]LQW LQGLFHOH QLYHOXOXL FKHOWXLHOLORU OD  C0 OHL FLIU GH DIDFeri (Ic FDUH SRDWH IL GHWHUPLQDW SH ED]D UHOD LHL 1 I c = g 1 + 1 IC A g = ponderea cheltuielilor fixe n totalul cheltuielilor Exemplu: 1. &LIUD GH DIDFHUL GLQ SHULRDGD FXUHQW 4375 mil. lei 2. Suma cheltuielilor variabile 2516 3. Suma cheltuielilor fixe 1140 4. Total cheltuieli 3656 5. Nivelul cheltuielilor la 1000 lei 835,59 6. Ponderea cheltuielilor fixe n totalul 31,19% cheltuielilor 7. &LIUD GH DIDFHUL SURSXV 5000 mil. lei 8. Indicele cifrei de afaceri 114,29%
YDULDELOH L IL[H

1 I c = 0,3119 1 = 0,961 sau 96,10% 1,1429 C = 835,59 0,961 = 803,0 lei

'HFL vQ FRQGL LLOH VSRULULL FLIUHL GH DIDFHUL GDU D PHQ LQHULL VWUXFWXULL GH H[SORDWDUH VH HVWLPHD] DIDFHUL FDUH GDF JHQHUHD]  Q DFWLYLWDWHD SUDFWLF  vQ FD]XO VWDELOLULL XQXL RELHFWLY UHVSHFWLY XQ QLYHO GDW DO FKHOWXLHOLORU OD  OHL FLIU GH DIDFHUL GDF H[LVW FDSDFLWDWHD DFHVW QLYHO DO FKHOWXLHOLORU OD  OHL FLIU GH VH UHDOL]HD]  YD FRQGXFH OD RE LQHUHD HIHFWH

lor pe care le

C0   

     !!  "  #$% &   !' "  #$)( #

# 

GH SURGXF LH L FHUHUH VROYDELO  SRDWH IL SXV DIDFHUL FDUH V

SUREOHPD HVWLP ULL FLIUHL

de

DVLJXUH UHDOL]DUHD DFHVWXLD 3HQWUX DFHDVWD VH IRORVHWH UHOD LD

1 g 1 , I CA se deduce din formula I C = g + 1; IC + g 1 I CA g g g + I C = g + 1( 1); I C = g 1; I CA = . I CA I CA IC + g 1

I CA =
3H ED]D GDWHORU GLQ H[HPSOXO SUHFHGHQW VH SUHVXSXQH F VH VWDELOHWH

ca obiectiv, C = 800 lei, deci 800 IC = = 0,95741 835,59 0,3119 I CA = = 1,1581 sau 115,81% 0,95741 + 0,3119 1
FHHD FH vQVHDPQ

de 5067 mil. lei (4375 1,1581).

2 DOW P VXUL GH FRUHF LH

FLIUD GH DIDFHUL SHQWUX SHULRDGD XUP WRDUH WUHEXLH V

ILH

VLWXD LH SRDWH IL DFHHD vQ FDUH HVWH QHFHVDU

DGRSWDUHD XQR

ntr-R DQXPLW SHULRDG  SHQWUX dat al cheltuielilor la 1000 lei, la finele perioadei. Exemplu:

vQFDGUDUHD vQWU

r -un nivel

3HQWUX DQXO vQ FXUV SULQ EXJHWXO GH YHQLWXUL L FKHOWXLHOL V-a stabilit un nivel al cheltuielilor la 1000 lei de 800 lei cifra de afaceri de 5000 mil. lei. La finele semestrului I, cifra de afaceri este de 2000 mil. lei cu cheltuieli GH  OHL OD  OHL FLIU UHOD LD GH DIDFHUL &DUH WUHEXLH V ILH QLYHOXO PD[LP DO

cheltuielilor la 1000 lei n semestrul II ? n acest scop, se are n vedere

C=
n care:
JW

gt Ct , 100
dat pe
FHOH GRX

VWUXFWXUD YkQ] ULORU SH VXEGLYL]LXQL GH WLPS vQ FD]XO

semestre), iar
&W QLYHOXO FKHOWXLHOLORU OD  OHL DIHUHQWH SHULRDGHL FHHD FH vQVHDPQ F

C = gI CI + gII CII, de unde:

C II =

C g ICI g II

800 (820 0,4 ) = 786,67 lei 0,6

1RW

:
0,4 = 2000 ; 5000
F

0,6 = 1 04
vQ VHPHVWUXO ,, DFWLYLWDWHD WUHEXLH LQXW VXE

$FHDVWD vQVHDPQ

FRQWURO SHQWUX UHDOL]DUHD P VXULORU DGRSWDWH vQ YHGHUHD vQFDGU ULL vQ DFHVW

obiectiv.
3H DFHDVW ED] SRW IL FRQVWUXLWH VFHQDULL vQ GRX LSRWH]H GH ED] 

Prima
GDWRULW

FLIUD GH DIDFHUL DQXDO

GH  PLO OHL QX SRDWH IL GHS LW 

OLSVHL GH FHUHUH L UHVXUVH PDWHULDOH

A doua QX H[LVW UHVWULF LL PHQ LRQDWH n fiecare caz n parte sunt mai multe variante, care pot fi avute n vedere de conducerea firmei.

 $QDOL]D ULVFXOXL GH H[SORDWDUH VDX RSHUD LRQDO 5LVFXO GH H[SORDWDUH FRQVW vQ SRVLELOLWDWHD H[LVWHQW GH D QX VH

UHFXSHUD WRWDOLWDWHD FKHOWXLHOLORU HIHFWXDWH $QDOL]D VH ED]HD]

SH VWUXFWXUD

de exploDWDUH
PLQLP GH

D vQWUHSULQGHULL FDUDFWHUL]DW

vQ OLWHUDWXUD GH VSHFLDOLWDWH SULQ VH GHWHUPLQH JUDGXO GH OD HFXD LD

FKHOWXLHOL IL[H L YDULDELOH Q FRQVHFLQ IRORVLUH  SHQWUX HYLWDUHD ULVFXOXL WUHEXLH V D FDSDFLW LL GH SURGXF LH 6H SRUQHWH

CA (Chv + F) = 0 Chv = CA Cv CA (1 Cv) F = 0, de unde: F CA = 1 Cv

UHOD LD

*UDGXO GH IRORVLUH D FDSDFLW

LL GH SURGXF LH . VH GHWHUPLQ

SULQ

K=
1RW

CA Q max .
SURGXF LD PDUI IDEULFDW 

: Q ORF GH &$ SRDWH IL IRORVLW F K= (1 Cv )Q max .

DFHVW QLYHO DO JUDGXOXL GH

/D SURILWXO

IRORVLUH

FDSDFLW

LL

GH

SURGXF LH

 QWUXFkW RULFH DFWLYLWDWH WUHEXLH V

ILH JHQHUDWRDUH GH SURILW

P ULPHD DFHVWXLD HVWH R DOW

F + RE K= (1 Cv )Q max .
ULL UHOD LH 5(

SUREOHP  DWXQFL

unde: RE = rezXOWDWXO H[SORDW

'LQ DFHDVW

>4max.

K(1 G)] F

Exemplu: 1. 2. 3. 4. 5. Cifra de afaceri Cheltuieli variabile Cheltuieli fixe Total cheltuieli

&DSDFLWDWHD GH SURGXF LH 4max.

mil. lei 4375 2516 1140 3656 6000

K=
IRORVLUH D FDSDFLW

1140 = 0,45 sau 45% (1 0,575)6000

FUHWHUHD JUDGXOXL GH SUDJXOXL PLO GH OHL GH  LL GH SURGXF LH FLIUD GH

3HQWUX D HYLWD ULVFXO GH H[SORDWDUH HVWH QHFHVDU

respectiv,
DIDFHUL

GHS LUHD

(6000 0,45), sau, la cifra

UHQWDELOLWDWH

UHSUH]HQWDW

SULQ

PLQLP

GH DIDFHUL UHDOL]DW

GH  PLO OHL SUDJXO GH R PDUM VXILFLHQW FDUH

UHQWDELOLWDWH HVWH GHS LW FX 

 FHHD FH UHSUH]LQW

face inoperant riscul de exploatare.

6H SRDWH FDOFXOD LQWHUYDOXO GH VLJXUDQ ,s SH ED]D UHOD LHL

Q I s = 1 min 100, CA

unde: Qmin

SURGXF LD DIHUHQW

SUDJXOXL GH UHQWDELOLWDWH  DVWIHO

0,45).

Q H[HPSOXO GDW VLWXD LD VH SUH]LQW

$YkQG vQ YHGHUH UH]XOWDWXO H[SORDW ULL GH  PLO OHL

2700 I s = 1 100 = 38,29% 4375

k=

Q DFWLYLWDWHD SUDFWLF

1140 + 719 = 0,729 sau 72,9% (1 0,575)6000

VH SRW IRUPXOD GLIHULWH LSRWH]H vQ IXQF LH GH

OLPLWHOH GH YDULD LH D HOHPHQWHORU GH FDOFXO UHVSHFWLY

FDSDFLWDWHD GH SURGXF LH FLIUD GH DIDFHUL SUHFRQL]DW VH DX vQ YHGHUH FRQWUDFWHOH vQFKHLDWH

comenzi etc.);
FKHOWXLHOL YDULDELOH L IL[H SUHYL]LELOH FX OXDUH

a n considerare a

HYROX LHL SUH XULORU L HIHFWHORU LQIOD LHL PDMRUDUHD VDODULLORU

Cu ajutorul modelelor prezentate pot fi efectuate o serie de calcule, fie de fundamentare a unor decizii, fie de evaluare a efectelor rezultate din DSOLFDUHD ORU $D de exemplu, se poate stabili care va fi suma profitului
GDF JUDGXO GH XWLOL]DUH D FDSDFLW $VWIHO GDF GH  LL GH SURGXF LH FUHWH FX ; SURFHQWH LL GH SURGXF LH VH DGPLWH XQ JUDG GH XWLOL]DUH D FDSDFLW DWXQFL UH]XOWDWXO H[SORDW ULL YD IL

RE = [6000 0,8 (1 0,575)] 1140 = 900 mil. lei

3UREOHPD SRDWH IL SXV L vQ VHQVXO HVWLP ULL QLYHOXOXL FKHOWXLHOLORU VH GH DIDFHUL SHQWUX FD vQ FRQGL LLOH XQXL JUDG GH LL GH SURGXF LH L D XQHL VXPH D FKHOWXLHOLORU IL[H V

YDULDELOH OD  OHL FLIU XWLOL]DUH D FDSDFLW RE LQ

XQ DQXPLW SURILW Q DFHVW VFRS VH IRORVHWH UHOD LD

Cv =1
'DF

F + RE Q max K

VH HVWLPHD]

Cv =1
2 GDW FLIU

1140 + 850 = 0,545 lei 6000 0,729

XQ SURILW vQ VXP

GH  PLO OHL DWXQFL

VWDELOLW DFHVW QLYHO PD[LP DO FKHOWXLHOLORU YDULDELOH

la 1000 lei
L GH VH

GH DIDFHUL HVWH QHFHVDU Q HODERUDUHD DFHVWRU

HODERUDUHD SURJUDPHORU GH P VXUL FDUH V SURJUDPH WUHEXLH V VH LQ VHDPD

asigure ncadrarea n acest nivel.

HYROX LD SUHYL]LELO LQ D SUH XULORU L SUH XULORU WUHEXLH V

Astfel, n calcularea indicilor chelWXLHOLORU

PRGLILF UL L Q

VHDPD GH SRQGHUHD HOHPHQWHORU UHVSHFWLY SURGXVHORU OD FDUH LQWHUYLQ

nivelul acestora.
ILUPHL L HYDOXDUHD DFHVWHLD VH IRORVHWH L

GLDJQRVWLFXO

coeficientul de efect de levier de exploatare (coeficientul de prghie de exploatare . VWDELOLW SH ED]D UHOD LHL RE CA K1 = RE CA n care: RE = UH]XOWDWXO H[SORDW ULL CA = FLIUD GH DIDFHUL VDX SURGXF LD IDEULFDW vQ DFHVW FD] L UH]XOWDWXO
H[SORDW ULL HVWH DIHUHQW DFHVWHLD

Exemplu (n mil. lei):

6RFLHWDWHD FRPHUFLDO

A 1. Cifra de afaceri din perioada - SUHFHGHQW - FXUHQW

5H]XOWDWXO H[SORDW ULL GLQ SHULRDGD

B 4200 4300 792 800 2215 2200 1193 1300 300 305

4207 4375 790 830 2532 2660 885 885 395 457

2.

3.

4.

5.

- SUHFHGHQW - FXUHQW Cheltuieli variabile n perioada - precHGHQW - FXUHQW Cheltuieli fixe n perioada - SUHFHGHQW - FXUHQW Profitul net n perioada - SUHFHGHQW - FXUHQW
K1A =

5H]XOW vQVHDPQ R

830 790 4207 = 1,27 790 4375 4207 800 792 4200 K1B = = 0,42 792 4300 4200
F GLPLQXDUH DLE D HILFLHQ HL FKHOWXLHOLORU

vQ FD]XO $ R FUHWHUH D FLIUHL GH DIDFHUL GH  GH

GHWHUPLQ 'HFL

un spor de profit de 1,27%, iar n cazul B numai de 0,42%, ceea ce

H[SORDWDUH FRHILFLHQWXO WUHEXLH V 'DF VH WHQGLQ D GH FUHWHUH

are n vedere structura de exploatare, respectiv raportul

Marja bruta CA chv = F Cheltuieli fixe

GLQWUH FKHOWXLHOLOH YDULDELOH L IL[H FRHILFLHQWXO GH SkUJKLH GH H[SORDWDUH SRDWH IL FDOFXODW L SH ED]D UHOD LHL

K1 =

Q H[HPSOXO GDW YDORULOH FRHILFLHQWXOXL VXQW XUP Woarele: Coeficientul prghiei de exploatare n perioada A B - SUHFHGHQW 4207 2532 4200 2215 = 1,89 = 1,66 885 1193 - FXUHQW 4375 2660 4330 2200 = 1,94 = 1,62 885 1300 (YROX LD FRHILFLHQWXOXL FRQILUP FD]XUL PDUMD EUXW GLIHULW  DSURSLH FX GH &$ FHOH PHQ LRQDWH DQWHULRU vQ DPEHOH FKHOWXLHOLOH IL[H GDU vQ SURSRU LH vQ DIO OD FHHD OD FH SULYHWH GH ULVFXO GH FH YDORDUHD FRHILFLHQWXOXL VH SUDJXO UHQWDELOLWDWH % QX  VXQW VRFLHWDWHD FRPHUFLDO

&KY DFRSHU

VHPQLILFD LD  QLYHO LL OD vQ

FRUHVSXQ] WRDUH FDUH ILUPD VH

H[SORDWDUH 6LWXD LD GHYLQH FULWLF &RQWLQXDUHD DFWLYLW DFHVWH

SH P VXU FRQGL LL

SHUPLWH UHFXSHUDUHD IDFWRULORU GH SURGXF LH FRQVXPD L L vQ FRQVHFLQ

nHFHVDUH VXUVH GH ILQDQ DUH 1HUHVWLWXLUHD avea ca efect falimentul firmei.

3HQWUX DFWLYLWDWHD SUDFWLF F UXL QLYHO V ILH VXILFLHQW GH

DFHVWRUD OD WHUPHQHOH VWDELOLWH YD GLPHQVLRQDUHD UD LRQDO FH SULYHWH D

HVWH LPSRUWDQW DFRSHULWRU vQ

FKHOWXLHOLORU IL[H vQWUXFkW R PDMRUDUH D DFHVWRUD LPSOLF FHHD H[SORDW ULL

XQ FRHILFLHQW DO VLJXUDQ D

3.8 Modele GH DQDOL]

&KHOWXLHOLOH FULWHULL ILHFDUH GH DYkQG

D SULQFLSDOHORU FDWHJRULL GH FKHOWXLHOL SRW IL VWUXFWXUDWH vQ vQ IXQF LH GH GLIHULWH GH

SURGXF LH

VHPQLILFD LD

VSHFLILF

DFWLYLWDWHD

SUDFWLF

JHVWLXQH $VWIHO GXS

QDWXUD ORU GLVWLQJHP FKHOWXLHOL PDWHULDOH VDODULDOH

ILQDQFLDUH vQ IXQF LH GH PRGXO GH LQGLYLGXDOL]DUH SH SURGXVH VH IRUPHD] JUXSD FKHOWXLHOLORU GLUHFWH L LQGLUHFWH vQ UDSRUW GH IXQF LLOH FHQWUH GH UHVSRQVDELOLWDWH VH LQGLYLGXDOL]HD] ,QGLIHUHQW YL]HD]  GH PRGDOLWDWHD GH

ntreprinderii, ca GH DQDOL]

FKHOWXLHOLOH DIHUHQWH IXQF LXQLL PHWRGRORJLD

GH FHUFHWDUH GH]YROWDUH SURGXF LH SHUVRQDO FRPHUFLDO  ILQDQFLDU FRQWDELO  JUXSDUH

caracWHUL]DUHD VLWXD LHL OD XQ PRPHQW criterii, ceea ce presupune: DQDOL]D HYROX LHL GLQDPLFLL DQDOL]D VWUXFWXUDO 

GDW vQ UDSRUW GH DQXPLWH

DQDOL]D IDFWRULDO  HYDOXDUHD WHQGLQ HL ORU vQ IXQF LH GH IDFWRULL VSHFLILFL FDUH OH JHQHUHD]  SUDFWLF IDSW FH SUHVXSXQH FR

nstituirea de modele
SUH]LQW FRQWURO LPSRUWDQ D HYROX LHL

FRUHVSXQ] WRDUH 2 DVHPHQHD SUREOHP FKHOWXLHOL SUHFXP L vQ LQHUHD VXE

vQ DFWLYLWDWHD GH HODERUDUH D EXJHWHORU GH YHQLWXUL L

costurilor pe centre de responsabilitate. ntruct, din SXQFW GH YHGHUH PHWRGRORJLF H[LVW

DFHVWHD YRU IL XUP WRDUHD H[HPSOLILFDWH SH DQXPLWH FDWHJRULL RPLVH DVSHFWHOH SDUWLFXODUH Q FRQVHFLQ

HOHPHQWH FRPXQH D IL

GH FKHOWXLHOL I U

 SUREOHPDWLFD DQDOL]HL SRDWH IL

3.8.1 Analiza cheltuielilor materiale

&KHOWXLHOLOH PDWHULDOH GH LQ R SRQGHUH PDL PDUH VDX PDL PLF IXQF LH YDORULF GH SURILOXO GH DFWLYLWDWH DO vQWUHSULQGHULL (OH UHSUH]LQW vQ H[SUHVLD

D FRQVXPXULORU GH UHVXUVH PDWHULDOH L D SUHVW ULORU GH VHUYLFLL GH

F WUH WHU L L VH FRPSXQ GLQ Q

materii prime, materiale;

FRPEXVWLELO HQHUJLH DS 

amortizare; obiecte de inventar;

OXFU UL L VHUYLFLL SUHVWDWH GH WHU L

alte cheltuieli materiale.

FRQWDELOLWDWHD ILQDQFLDU  DFHVWH FKHOWXLHOL VXQW HYLGHQ LDWH vQ

conturile din clasa 6 conturi de cheltuieli, iar n contabilitatea de gestiune vQ FRQWXULOH GH FDOFXOD LH FW  925). $D GXS FXP V-D DU WDW vQ DQDOL]D FKHOWXLHOLORU PDWHULDOH GLVWLQJHP
 $QDOL]D VLWXD LHL JHQHUDOH D FKHOWXLHOLORU PDWHULDOH

Ca prim aspect al analizei cheltuielilor materiale se are n vedere

IRUPDUHD LQGLFHOXL XQHL LPDJLQL GH DQVDPEOX DVXSUD HYROX LHL L DFHVWRUD SH SH ED]D FKHOWXLHOLORU PDWHULDOH ,FKP WRWDOL]DWRU SULQFLSDOHOH FRPSRQHQWH DOH SRQGHULL ORU vQ WRWDO FRVWXUL JP L D QLYHOXOXL OD  OHL

veniWXUL GLQ H[SORDWDUH UHVSHFWLY FLIU GH DIDFHUL &P Datele necesare sunt redate Q WDEHOXO XUP WRU WDEHOXO )

Perioada Nr. crt. 1

6SHFLILFD LH 3UHFHGHQW &XUHQW 3UHY ]XW

Tabelul 3.14 (mil. lei) % Realizat

(Pn-1) Cheltuieli materiale

DIHUHQWH H[SORDW ULL

P1 Pn 1
118,5 121,7 93,4

P1 P0
108,6 108,6 100

2282 2092 76,1

2489 2344 71,1

2704 2546 71,1

2 3

(mil. lei) din care aferente cifrei de afaceri Ponderea cheltuielilor materiale n total costuri (%) Nivelul cheltuielilor materiale la 1000 lei venituri-lei din care aferente cifrei de afaceri

620 618

590 585

584 582

94,2 94,2

99,0 99,5

Cercetarea datelor din acest tabel permite formularea unor concluzii

L DQXPH

Cheltuielile materiale aferente exSORDW ULL L UHVSHFWLY FLIUHL GH afaceri se nscriu ntr-R HYROX LH FUHVF WRDUH DWkW vQ UDSRUW GH UHDOL] ULOH
DQWHULRDUH FkW L SUHYHGHUL vQ FDUH ULWPXO ORU GH FUHWHUH HVWH LQIHULRU FHOXL DO

veniturilor, fapt dovedit de indicele cheltuielilor la 1000 venituri, care este <100; S-DX GLPLQXDW FKHOWXLHOLOH PDWHULDOH L UHVSHFWLY YHQLWXULOH
IDSW FH LPSOLF HIHFWHOH XQXL DVHPHQHD IHQRPHQ UHVSHFWLY PRGLILFDUHD UH]XOWDWXOXL H[SORDW U

DIHUHQWH SURGXF LHL VWRFDWH L LPRELOL]DWH GDU QX vQ SURSRU LD SUHY ]XW 

FDUDFWHULVWLFH GRPHQLXOXL vQ FDUH DFWLYHD]

ii; Ponderea cheltuielilor materiale se circumscrie n limitele

VRFLHWDWHD LDU UHGXFHUHD DFHVWHLD

este efectul sporirii celorlalte cheltuieli ntr-R SURSRU LH PDL PDUH 1RW : ntr-R DVHPHQHD VLWXD LH vQ FDUH SUHvederile sunt realizate, nu
VH LPSXQ P VXUL GH FRUHF LH FL SH ED]D LQIRUPD LHL GH VWDUH VH FRQWLQX

activitatea potrivit programului stabilit.

Q FHHD FH SULYHWH VWUXFWXUD SH SULQFLSDOHOH HOHPHQWH FRPSRQHQWH VH

are n vedere ncadrarea acesteia n limitele specifice domeniului de

DFWLYLWDWH SUHFXP L H[HPSOLILFDUHD DEDWHULORU VHPQLILFDWLYH LDU vQ IXQF LH GH VLWXD LD FRQFUHW  VH VWDELOHWH FDGUXO RSHUD LRQDO

 0RGHOHOH GH DQDOL]

IDFWRULDO

D FKHOWXLHOLORU PDWHULDOH

Cheltuielile materiale aIHUHQWH H[SORDW ULL SRW IL DQDOL]DWH FD QLYHO OD 1000 lei venituri (Cm) pe baza modelului: giCmi , Cm = 100 unde: gi = structura veniturilor; Cmi = cheltuielile materiale la 1000 lei pe categorii de venituri, care
UHSUH]LQW QHFHVDU L IDFWRUL GLUHF L GH LQIOXHQ PRGLILF ULORU LQWHUYHQLWH  vQ VWUXFWXUD YHQLWXULORU HVWH (YLGHQ LHUHD SHQWUX DSUHFLHUHD FRUHFW D VLWXD LHL GDW ILLQG PRGXO GH IRUPDUH D LQIOXHQ H HVWH VLPLODU GH DIDFHUL &P FX FDUH FX

YHQLWXULORU GLQ SURGXF LD VWRFDW FHD SUH]HQWDW

L LPRELOL]DW 

0HWRGRORJLD GH GHWHUPLQDUH D FHORU GRX vQ SDUDJUDIHOH DQWHULRDUH PDWHULDOH OD  OHL FLIU &KHOWXLHOLOH

FRQVWLWXLH SDUWHD SUHSRQGHUHQW

D YHQLWXULORU GLQ H[SORDWDUH VH DQDOL]HD]

ajutorul modelului:
Cm = q cm 1000, qp
SRW IL FRQVWUXLWH L DSOLFDWH GLIHULWH VLVWHPH

unde: cm = cheltuieli materiale pe produse.

3H DFHDVW ED] IDFWRULDOH $VWIHO XQ SULP VLVWHP DUH vQ FRPSRQHQ VWUXFWXUD SURGXF LHL YkQGXWH IDEULFDWH SUH XULOH PHGLL GH YkQ]DUH FD IDFWRUL GLUHF L

cheltuielile materiale pe unitate de produs.

XUP WRDUHOH LQIRUPD LL

([SOLFDUHD L DSOLFDUHD PHWRGRORJLHL LPSOLF

(Tabelul 3.15).
Tabelul 3.15 (mil. lei) Nr. crt. 1 2 3 4 5 Indicatori Cheltuieli materiale aferente cifrei de afaceri Cheltuieli materiale aferente cifrei de afaceri, recalculate Cifra de afaceri
&LIUD GH DIDFHUL UHFDOFXODW &KHOWXLHOL PDWHULDOH OD  OHL FLIU GH DIDFHUL 3UHY ]XW

Realizat 2546 2450 4375 4500 582

- lei

2344 X 4007 X 585

1RW : Pentru recalcularea cheltuielilor materiale, o solu LH R SRDWH constitui corectarea cheltuielilor materiale realizate cu indicele mediu al SUH XULORU PDWHULDOHORU ,p L UHVSHFWLY DO FRQVXPXULORU VSHFLILFH ,cs). q1cm1 q1cm 0 = I p I cs 0RGLILFDUHD FKHOWXLHOLORU PDWHULDOH OD  OHL FLIU GH DIDFHUL

(Cm)

de 3 lei (582  VH H[SOLF SULQ LQIOXHQ D a) structurii cifrei de afaceri

q1cm0 1000 q0cm0 1000 = 2450 1000 2344 1000 = 4500 4007 q1p0 q0p0

= 544,4 585 = 40,6 lei

E SUH XULORU PHGLL GH YkQ]DUH

q1cm0 1000 q1cm0 1000 = 2450 1000 544,4 = 4375 q1p1 q1p0

= 560 544,4 = + 15,6 lei c) cheltuielile materiale pe produse q1cm 0 q1cm1 1000 1000 = 582 560 = +22,0 lei q1p1 q1p1
$QDOL]D IDFWRULDO SXQH vQ HYLGHQ IDSWXO F UHGXFHUHD FKHOWXLHOLORU

materiale la 1000 lei s-a realizat exclusiv pe seama structurii cifrei de DIDFHUL vQ FDGUXO F UHLD V-D P ULW SRQGHUHD SURGXVHORU FX PDQRSHU PDL mare, n WLPS FH FKHOWXLHOLOH PDWHULDOH SH SURGXVH DX FUHVFXW Q FRQVHFLQ  ntr-R DVHPHQHD VLWXD LH VH LPSXQH VWDELOLUHD FDX]HORU FDUH DX GHWHUPLQDW-o
L DGRSWDUHD P VXULORU FRUHVSXQ] WRDUH

3.8.1.3 Analiza cheltuielilor cu materialele

Q SULPH L FRPSRQHQ D PDWHULDOHOH FKHOWX

ielilor materiale, cele care privesc materiile

vQ JHQHUDO GH LQ SRQGHUHD FHD PDL

FRQVXPDELOH

LPSRUWDQW  UHSUH]HQWkQG DVWIHO SULQFLSDOXO GRPHQLX vQ FDUH VH SRDWH DF LRQD SHQWUX VSRULUHD HILFLHQ HL DFWLYLW LL

Analiza acestor cheltuieli se poate face pe baza indicatorului sintetic,

FKHOWXLHOLOH FX PDWHULDOHOH OD  OHL YHQLWXUL GLQ H[SORDWDUH UHVSHFWLY FLIU

de afaceri, folosindu-se modelele prezentate anterior.

*HVWLRQDUHD FRUHVSXQ] WRDUH D UHVXUVHORU PDWHULDOH LPSXQH

efectuarHD GH DQDOL]H RSHUDWLYH SH IHOXUL L UHVSHFWLY JUXSH GH PDWHULDOH SH produse sau locuri consumatoare de materiale. Astfel, pentru un material, VXPD WRWDO D FRQVXPXOXL FKP VH H[SULP SULQ UHOD LD FKP T cs p, n care: q = SURGXF LD IDEULFDW cs = consumul specific p = SUH XO GH LQFOXGHUH vQ FRVWXUL
5H]XOW LQIOXHQ D SURGXF LHL IDEULFDWH HFDUWXO GH DFWLYLWDWH T1 F DEDWHUHD ID GH R ED] GH FRPSDUD LH VH H[SOLF SULQ

q0)cs0 p0,

consumului specific q1(cs1 cs0)xp0, SUH XOXL PHGLX GH includere n costuri q1 cs1(p1 - p0).
SUH XO PHGLX GH LQFOXGHUH vQ FRVWXUL GLIHU IRORVLW  UHVSHFWLY VDX D FRVWXO PHGLX GH PHWRGD GH HYDOXDUH

7UHEXLH UHPDUFDW IDSWXO F vQ IXQF LH

SRQGHUDW

PHWRGD

SULPHL

LQWU UL SULPHL

LHLUL

PHWRGHL

XOWLPHL

iQWU

UL SULPHL LHLUL

Q FD]XO PDWHULDOHORU RPRJHQH YDORDUHD WRWDO VH H[SULP SULQ UHOD LD

D FRQVXPXOXL 

chm)

chm = (Ct p),

GLQWU

unde:
&W FDQWLWDWHD FRQVXPDW &D XUPDUH

-un material (q cs)

FDUH GHWHUPLQ PRGLILFDUHD FKHOWXLHOLORU

IDFWRULL

materiale sunt:
FDQWLWDWHD FRQVXPDW

( Ct 1 Ct 0 ) p 0

structura materialelor consumate (Ct 1 p 0 ) ( Ct 1 )p 0

SUH XO PDWHULDOHORU

) (Ct1 p 0) (Ct1 p1
PRGHO GH DQDOL] HVWH QHFHVDU SHQWUX DSUHFLHUHD

8Q FRUHFW

DVHPHQHD

D HYROX LHL FKHOWXLH

lilor cu materialele pe centre de responsabilitate

RELHFWLYH GH FRQVWUXF LL FDWHJRULL GH OXFU UL HWF

Exemplu:
Tabelul 3.16 Denumire material A B TOTAL normat tone 100 100 200
SUH

realizat Total mii lei 57000 54000 11100 tone 95 125 220
SUH

lei 57000 54000 55500

lei 57500 53900 X

Total mii lei 5460 6740 12200

Recalculat col 4 u 2 5420 6750 12170

0RGLILFDUHD WRWDO GDWRULW  FDQWLW

HVWH GH  PLL OHL 

11100) din care

LL FRQVXPDWH

(220 200) 55500 = + 11100 mii lei structurii materialelor consumate 12170 (220 55500) = -40 mii lei
SUH XOXL PDWHULDOHORU

12200 12170 = +30 mii lei

QWUXFkW GHS LUHD FKHOWXLHOLORU HVWH GHWHUPLQDW DSURDSH vQ H[FOXVLYLWDWH GH FDQWLWDWHD FRQVXPDW  HVWH QHFHVDU V DFHDVWD VH GDWRUHD] VH VWDELOHDVF FkW GLQ

SURGXF LHL L FkW FRQVXPXOXL VSHFLILF SHQWUX D VH SXWHD

OXD GH F WUH IDFWRULL GH U VSXQGHUH P VXULOH FRUHVSXQ] WRDUH &X WLWOX GH H[HPSOX VH SUH]LQW XQ PRGHO GH DQDOL] D FKHOWXLHOLORU

cu materialele, practicat n ntreprinderile franceze (Tabelul 3.17)

Tabelul 3.17 (materialul X)

Nr. de produse fabricate n perioada Cantitatea de materiale pe produs Kg Cantitatea

*,+-. /0213
1800 1600 3700

465,7
pe Kg F

485,7 /#9
materialelor consumate

Valorile comparabile

: +;< = < * 5 <

- favorabile + nefavorabile

Elemente
SUHY ]XWH

Elemente constatate

300 P1 400 P2 330 P1 420 P2

6 4

6 5,5

20400 20350

6 5,5 Favorabile privind

SUH XO

F - Modificare
WRWDO

- 50 3700 5,5 = 20350 Modificarea 1850 F

- Cost constant Costul prestabilit la consumul realizat Costul prestabilit la consumul

SUHY ]XW

SUH XOXL

3700 6 = 22200 Modificarea 330 6 1980 1680

FDQWLW LL FRQVXPDW

$QDOL]D PRGLILF ULL WRWDOH

Modificarea materialelor consumate - 1610 F

+ 240 F

aferent
SURGXF LHL

420

3660 6 = 21960 20400

realizate
&RVW SUHY ]XW OD FRQVXP WRWDO SUHY ]XW

Modificarea volumului de activitate +1560F

Modificare
WRWDO

- 50 F
FKHOWXLHOLORU FX PDWHULDOHOH P VXULORU SUHFL]DUHD F R SUREOHP GHRVHELW GH

Q LPSRUWDQW

DQDOL]D R

SUH]LQW

HYDOXDUHD

WHKQLFR

-organizatorice de
WHKQLF GH

UHGXFHUH D DFHVWRUD 7UHEXLH I FXW SURLHFWDUH L H[HFX LH D SURGXVXOX $FHDVWD PDWHULDOH QX H[FOXGH GLQ vQV SXQFW

GLPHQVLRQDUHD UD LRQDO 

HILFLHQW  D FRQVXPXULORU VSHFLILFH HVWH vQ SULPXO UkQG R SUREOHP

i.
LPSRUWDQ D GH EXQHL DO JHVWLRQ UL DVLJXU ULL D UHVXUVHORU LQWHJULW LL YHGHUH

LQFOXVLY

patrimoniului.

3UDFWLFD HFRQRPLF

RIHU

R PXOWLWXGLQH GH SRVLELOLW

L GH LQWHUYHQ LH

SHQWUX D PLFRUD FRQVXPXULOH I U

a afecta competitivitatea produselor.

3.8.1.4 Analiza cheltuielilor cu amortizarea

&KHOWXLHOLOH FX DPRUWL]DUHD DYkQG XQ FDUDFWHU FRQYHQ LRQDO FRQVWDQW vQ OLPLWHOH SUHFL]DWH GH DI VH DQDOL]HD] FD QLYHO OD  OHL YHQLWXUL GLQ H[SORDWDUH VDX FLIU

aceri (Ca) pe baza modelului:

A Ca = 1000, CA

n care:
$ VXPD DQXDO D DPRUWL] ULL LQFOXV vQ FRVWXUL

Dar, unde: raportul

Mf A A 1000 = CA Ca M f

1000,

Mf , FDUDFWHUL]HD] CA

HILFLHQ D XWLOL] ULL DFWLYHORU IL[H

FDWHJRULL GH DFWLYH IL[H FRWHOH GH DPRUWL]DUH SH ILHFDUH FDWHJRULH LQIOXHQ DWH L GH VLVWHPXO GH DPRUWL]DUH SUDFWLFDW Q FRQVHFLQ FLIU GH DIDFHUL   PRGLILFDUHD FKHOWXLHOLORU FX DPRUWL]DUHD OD  O

A = FRWD MF

PHGLH GH DPRUWL]DUH

FD vQ FDUH VH VLQWHWL]HD]

VWUXFWXUD

SH

&D HVWH GHWHUPLQDW GH randamentul activelor fixe M f1 M f 0 ca 1000 CA CA 1 0 cota medie de amortizare M f0 (ca1 ca 0 ) 100 CA1

ei

GLQ FDUH LQIOXHQ D

structurii pe categorii de active fixe

M f1 CA1

(ca ca 0 ) 1000
vQ IXQF LH GH VWUXFWXUD HIHFWLY D PLMORDFHORU SH ED]D YDORULORU PHGLL EUXWH L FRWHOH GH DPRUWL]DUH SH

unde: ca = cota meGLH

IL[H FDOFXODW

UHFDOFXODW

categorii de active fixe; cotele de amortizare pe categorii de active fixe

(ca1 ca ) 1000 CA1 Metodologia prezenWDW HVWH

M f1

XWLO

vQ

GLDJQRVWLFXO

VRFLHW

LL

vQ

H[SOLFDUHD XQHL VLWXD LL GDWH vQ UDSRUW GH XQ FULWHULX FRQVLGHUDW (VWH HYLGHQW IDSWXO F  vQ DFWLYLWDWHD SUDFWLF  vQ FRQGL LLOH VSRULULL vQ]HVWU ULL WHKQLFH PDL EXQD IRORVLUH D DFWLYHORU IL[H UHSUH]LQW IDF

torul principal de reducere a

GH OD QLYHOXO GLIHULWHORU

FKHOWXLHOLORU FX DPRUWL]DUHD SH SURGXVH L UHVSHFWLY OD  OHL FLIU

afaceri.
Q IXQF LH GH QHFHVLW L DQDOL]D SRDWH IL H[WLQV FDWHJRULL GH DFWLYH IL[H SHQWUX D HYLGHQ LD LQIOXHQ D SH FDUH R DU ED]HD] SH IDSWXO F

e gradul de folosire al acestora asupra cheltuielilor cu amortizarea. Metodologia se

VXPD DPRUWL] ULL OXQDU  DQXDO  HVWH FRQVWDQW  L R VSRULUH D UDQGDPHQWXOXL DFWLYHORU IL[H FRQGXFH OD UHGXFHUHD DPRUWL] ULL SH

produs sau lucrare.

3.9 Analiza cheltuielilor cu personalul

 $QDOL]D VLWXD LHL JHQHUDOH D FKHOWXLHOLORU FX SHUVRQDOXO Q FDGUXO DFHVWHL HWDSH VH XUP UHWH FXQRDWHUHD HYROX LHL L

WHQGLQ HL XQRU DVHPHQHD FDWHJRULL GH FKHOWXLHOL vQ UDSRUW L GH DF LXQHD XQRU

factori conjuncturali, folosindu-se ca indicatori ponderea n totalul

FKHOWXLHOLORU L QLYHOXO OD  OHL YHQLWXUL GLQ H[SORDWDUH UHVSHFWLY FLIU GH

afaceri.
&kW SULYHWH VWUXFWXUDUH

a cheltuielilor cu personalul, aceasta poate

avea n vedere mai multe criterii, cum ar fi: elementele componente, salariile tarifare, respectiv, negociate,
VSRUXUL DFRUGDWH SH FDWHJRULL SUHPLL WD[H GH SURWHF LH VRFLDO  LPSR]LWH HWF SUH]LQW LPSRUWDQ vQ GHOLPLWDUHD FKHOWXLHOLORU URUD ILUPD

care sunt reglementate prin acte normative L DVXSUD F

QX SRDWH DF LRQD XWLOH SHQWUX PDUFDUHD PXWD LLORU FDUH V

FDWHJRULLOH GH SHUVRQDO PXQFLWRUL LQJLQHUL HFRQRPLWL HWF VXQW

-au produs n structura

SHUVRQDOXOXL SHQWUX HYHQWXDOHOH FRPSDUD LL FX ILUPH VLPLODUH

formele de salarizarH acestora;

vQ UDSRUW GH PRGXO ORFDOL]DUHD

SUDFWLFDWH SHQWUX D FDUDFWHUL]D HILFLHQ D LQFOXGHUH H[LVWHQWH vQ FRVWXUL HVWH QHFHVDU vQ

GH

UH]HUYHORU

SHQWUX

VSRULUHD

HILFLHQ HL

cheltuielilor cu salariile.
)LHFDUH GLQ DFHVWH JUXS UL L DOWHOH VXQW XWLOL]DWH vQ IXQF LH GH VFRSXO XUP ULW

 $QDOL]D HILFLHQ HL FKHOWXLHOLORU FX VDODULLOH (ILFLHQ D FKHOWXLHOLORU VDODULDOH SRDWH IL DQDOL]DW FX DMXWRUXO

indicatorilor: cheltuieli salariale la 1000 lei venituri din exploatare; cheltuieli salariale la 1000 OHL FLIU GH DIDFHUL
FKHOWXLHOL VDODULDOH OD  OHL YDORDUH DG XJDW  DWkW PRGHOHOH GH Q WRDWH FHOH WUHL VLWXD LL SRW IL XWLOL]DWH vQ DQDOL] FRUHOD LH FkW L FHOH PXOW

iplicative. Astfel, n cazul cheltuielilor salariale la

1000 lei venituri din explRDWDUH &V PRGHOXO GH FRUHOD LH HVWH Fs Cs = 1000, Ve unde: Fs = fondul de salarii (inclusiv elementele aferente)
'HFL PRGLILFDUHD FKHOWXLHOLORU VDODULDOH ID &V VH H[SOLF SULQ LQIOXHQ D GH R ED] GH FRPSDUD LH

sumei veniturilor
Fs 0 Fs0 Ve Ve 1000 0 1 sau Cs 0 Cs 0 , Ive

unde: Ive = indicele veniturilor sumei cheltuielilor salariale Fs1 Fs 0 Cs 0 Ve Ve 1000 sau Cs1 Iv , 1 e 1
(YLGHQW ILLQG XQ PRGHO GH FRUHOD LH

VXPD

YHQLWXULORU

WUHEXLH

vQUHJLVWUH]H XQ ULWP GH FUHWHUH VXSHULRU FKHOWXLHOLORU VDODULDOH

Ca model mulWLSOLFDWLY SRDWH IL IRORVLW XUP N Fs Cs = 1000, Ve N n care: N = QXP

UXO GH VDODULD L Q FRQVHFLQ

WRUXO

&V VH H[SOLF
GH VDODULD L

SULQ LQIOXHQ D OD  OHX YHQLWXUL IRUP LQYHUV GH

QXP UXOXL

H[SULPDUH D SURGXFWLYLW

LL PXQFLL

FKHOWXLHOLOH PHGLL SH R SHUVRDQ

N1 Fs 0 1000 Cs 0 Ve N 0 1 N1 Fs 0 Cs1 Ve N 1000 0 1

PRGHO SXQH vQ

L SURGXFWLYLW

DFHVW

HYLGHQ

FRUHOD LD

GLQWUH

FUHWHUHD SHQWUX

LL PXQFLL L D VDODULXOXL PHGLX FRUHOD LH DEVROXW QHFHVDU 0HWRGRORJLD SUH]HQWDW UHVSHFWLY SUDFWLFD GLQWUH VH DSOLF

VSRULUHD HILFLHQ HL FKHOWXLHOLORU VDODULDOH 1RW FLIUD GH

VLPLODU L vQ FD]XO FHORUODO L DYkQGX SHQWUX L D

LQGLFDWRUL FX GHRVHELUHD F DIDFHUL L VHPQLILFD LD DFHVWRUD 7HRULD VLWXD LHL

VXPD YHQLWXULORU GLQ H[SORDWDUH VH YD vQORFXL FX YDORDUHD DG XJDW  UHFRPDQG LL

-se n vedere
FDUDFWHUL]DUHD PHGLX

HFRQRPLF GLQDPLFD

FRUHOD LHL

SURGXFWLYLW

VDODULXOXL

FRHILFLHQWXO FRUHOD LHL .U H[SULPDW SULQ UHOD LLOH

Kr =
sau Kr =

Is 100 , VH Iw 100

DSOLF

GH

UHJXO

GDF

DPELL

LQGLFL

VXQW



Is . Iw

Pentru exemplificare, se folosesc GDWHOH XUP

WRDUH WDEHOXO 

):

Tabelul 3.18 Nr. crt. 1 2 3 Indicatori Indicele salariului mediu Indicele SURGXFWLYLW LL (calculul pe baza cifrei de afaceri)
&RHILFLHQWXO GH FRUHOD LH

P0 Pn 1
100 106

Pn Pn 1
105 105,7

Pn P0
110,96 99,72

Is 100 Iw 100 Is Iw

0,6667

0,8772

0,9811 98,11
GH

0,9934 99,34
SULQFLSLX

X 101,24
FRUHOD LD

Indicele cheltuielilor cu personalul la 1000 lei

FLIU GH DIDFHUL

'DWHOH

SUH]HQWDWH

DUDW

V D

UHVSHFWDW

necesDU 1,24%.

 GDU QX OD QLYHOXO SUHY ]XW FRHILFLHQWXO GH FRUHOD LH V

FHHD FH DUH FD HIHFW FUHWHUHD FKHOWXLHOLORU FX VDODULLOH OD  OHL YHQ

-a majorat), ituri cu

n raport de productivitatea muncii realizate, cu respectarea

FRUHOD LHL SUHY ]XWH LQGLFHOH VDODULXOXL PHGLX VH GHWHUPLQ SH ED]D UHOD LHL vQ FDUH

Is = [(Iw 1)Kr0] + 1 sau Is = Iw Kr0 vQ IXQF LH GH PRGXO este calculat Kr0 (ca raporW DO VSRUXULORU VDX FD SURSRU LH Aplicnd formula a doua Is = 1,057 0,9811 = 1,037022.
Q FRQVHFLQ  LQGLFHOH VDODULXOXL PHGLX ID

GH SUHYHGHUL WUHEXLH V

1,037022 fie = 0,9972, DGLF HJDO FX FHO DO SURGXFWLYLW LL PXQFLL FHHD FH DU 1,04 fi condus OD vQFDGUDUHD vQ QLYHOXO SUHY ]XW DO FKHOWXLHOLORU FX VDODULLOH OD  lei venituri din exploatare.
Q DFWLYLWDWHD XQHL VRFLHW DSDU L FRPHUFLDOH vQ OHJ WXU FX VDODULLOH SRW V R PXOWLWXGLQH GH DVSHFWH FDUH WUHEXLH V ILH VROX LRQDWH FRUHVSXQ] WRU

pHQWUX

D GLPLQXD SLHUGHULOH GHWHUPLQDWH GH FRQIOLFWHOH GH PXQF  QWU

-un

DVHPHQHD FRQWH[W SRDWH IL vQVFULV OLPLWH PD[LPH GH FUHWHUH D

L SUREOHPD QHJRFLHULL VDODULLORU VDXL VWDELOLUHD XQHL

VDWLVIDFHULL XQRU UHYHQGLF UL VDODULDOH 3UDFWLF HVWH QHFHVDU

salariilor.

Exemplu: 1. Cifra de afaceri 2. Cheltuieli aferente

 GLQ FDUH VDODULL L HOHPHQWHOH DIHUHQWH )V

4. Restul cheltuielilor (M)

 5H]XOWDWXO H[SORDW ULL 5(

6. Capital propriu 7. Profit net

4000 mil. lei 3200 mil. lei 900 mil. lei 2300 mil. lei 800 mil. lei 2500 mil. lei 375 mil. lei

0DMRUDUHD VDODULLORU SRDWH IL DFRSHULW GH UH]XOWDWXO H[SORDW ULL FHHD FH YD FRQGXFH OD GLPLQXDUHD SURILWXOXL QHW FX FRQVHFLQ HOH FDUH GHFXUJ GH DLFL VDX QHJRFLHUHD SUH XULORU GH YkQ]DUH SHQWUX PHQ LQHUHD SURILWXOXL Q SULPD LSRWH]  OLPLWD PD[LP UH]XOWDWXO H[SORDW ULL FHHD GH PDMRUDUH D VDODULLORU R FRQVWLWXLH FH vQ SURFHQWH vQVHDPQ

RE 800 100 respectiv, 100 = 88,89%. Fs 900

$FHVW OXFUX VH YHULILFD SULQ UHOD LD

'DF PLFRUHD] DO

VDODULLOH

RE M + Fs1 + Fs 2300 + 900 1,8889 = =1 CA 4000

VH PDMRUHD]

FX  PLO OHL  FLIUD GH DIDFHUL

FX



UH]XOWDWXO

H[SORDW ULL

VH

 3HQWUX D VH PHQ LQH DFHODL UH]XOWDW V FUHDVF FX XQ DQXPLW SURFHQW

H[SORDW ULL

WUHEXLH

GHWHUPLQDW GH FRWD GH PDMRUDUH D VDODULLORU L SRQGHUHD DFHV

tora n cifra de

afaceri. n cazul dat 0,20

6SRULUHD FLIUHL GH

900 = 0,045 sau 4,5%. 4000

DIDFHUL FX   SH S

UHSUH]LQW



PLO UH]X

OHL

HFKLYDOHQWXO PDMRU ULL VDODULLORU Q DFHVWH FRQGL LL QX VH PRGLILF H[SORDW ULL L SURILWXO QHW FDUH LQWHUHVHD]  ID

ltatul

roprietarii capitalului. n ipoteza stabilirii unui prag minim de rentabilitate, de exemplu,

GH FDSLWDOXO SURSULX OLPLWD PD[LP GH PDMRUDUH D VDODULLORU YD IL

2300 + 900( 1 + 0,61) = 0,93725, 4000

QORFXLQG vQ UHOD LD SUHFHGHQW  UH]XOW

800 250 100 = 61% 900

GHFL XQ FRHILFLHQW VXEXQLWDU FHHD FH DUDW

XQLWDWHD HVWH UHQWDELO   

0,93725) = 250 mil. lei.

 $XWRFRQWUROXO XWLOL] ,QGLIHUHQW FH SUDFWLF GH IRUPD GH

ULL IRQGXOXL GH VDODULL SURSULHWDWH vQ ILUPD WUHEXLH OLPLWH V H[HUFLWH XQ VDX

autocontrol asupra PRGXOXL vQ FDUH HYROXHD]

vQVHDPQ vQFDGUDUHD UHFRQVLGHUDWH DVWIHO vQFkW V SUHY ]X L

FKHOWXLHOLOH FX PDQRSHUD FHHD SUHVWDELOLWH

DQXPLWH

VH DVLJXUH UHDOL]DUHD LQGLFDWRULORU GH HILFLHQ QRUPHOH GH PXQF  vQ F 

Ca limite prestabilite pot fi consideUDWH

OD QLYHOXO ILUPHL L VXEXQLW VH IDF FRPSDUD LH FX OXQDU WULPHVWULDO L OD ILQHOH DQXOXL RGDW IRQGXO

YLJRDUH OD GDWD UHVSHFWLY  SUHFXP L IRQGXO GH VDODULL SUHY ]XW SODQLILFDW LORU RUJDQL]DWRULFH 3UDFWLF DFHDVWD vQVHDPQ FX vQWRFP

PRGLILFDUH DEVROXW

Fs). Fs = Fs1 Fs0 = - HFRQRPLH DEVROXW



irea statelor GH SODW  V planificat2, stabilindu-VH DVWIHO DD-numita

  GHS LUH DEVROXW

Exemplu: Cazul (mil. lei) A B 2560 2734 2579 2579 -19 +155
IDFWRULL GH

1. Fond de salarii efectiv 2. Fond salarii planificat  'LIHUHQ  2)

$GPL kQG F GHFL]LH DL XQLW

GUHSWXULOH GLQ VWDWHOH GH VDODULL VXQW FDOFXODWH vQ UDSRUW RUGRQDQ H]H HIHFWXDUHD SO LL UHFRQVLGHUDUHD

GH PXQFD SUHVWDW  vQ SULPD VLWXD LH FD]XO $ FRQVLGHU P F LL SRW V Q VLWXD LD GHS LULL DEVROXWH FD]XO % HVWH QHFHVDU OLPLWHL LQL LDOH SULQ UHFDOFXODUHD DFHVWHLD

2 DVHPHQHD UHFDOFXODUH HVWH MXVWLILFDW  SULQ DFHHD F  vQWUH YROXPXO GH DFWLYLWDWH DO vQWUHSULQGHULL L GLQDPLFD IRQGXOXL GH VDODULL H[LVW R OHJ WXU FDUH GLUHFW  vQ HOHDV IL I FXW XQHRUL L FD R FRUHOD LH GH SURSRU LRQDOLWDWH UHFDOFXODUHD IRQGXOXL GH VDODULL 'H SULQFLSLX

3UREOHPD FDUH VH SXQH HVWH RS LXQHD SHQWUX FULWHULLOH vQ IXQF LH GH SRDWH

> ?A@ B?C D EGFEGH,CIJ#BKLBM N M D O"H,EPJIO"@ I#K IHQDRQDSK O EPTSUEVFEGCINJSM S D EWXCSW%FEVE!YENZJK BW%M ESK D U M D K EVJEM D I#SFED J#M ECEF#E?#O EW#@ I?F#BKFE%M E@ EM D ? EO C#[

FRQVLGHU P F vQWUHJXO

WUHEXLH V GH

VH IRORVHDVF YLH FX

DFHO LQGLFDWRU vQ FDUH VH UHJ VHWH PDWHULDO  SURGXVH OXFU UL

FRQVXP

PXQF

DFRSHULUH

executate, servicii etc., respectiv, veniturile din exploatare. reFDOFXODW )U SRDUW GHQXPLUHD GH PRGLILFDUH UHODWLY  Fs1 Fr = -HFRQRPLH UHODWLY  GHS LUH UHODWLY I) Fr = unde: Iq = venituri din exploatare realizate
YHQLWXUL GLQ H[SORDWDUH SUHY ]XWH L FKHOWXLHOLOH FX VDODULLOH VH SRW vPS U L vQ 5H]XOWDWXO FRPSDUD LHL GLQWUH IRQGXO GH VDODULL VWDELOLW )V1 L FHO

)RQGXO GH VDODULL UHFDOFXODW VH SRDWH GHWHUPLQD SH ED]D UHOD LLORU

Fs 0 Iq , 100

LQkQG VHDPD GH IDSWXO F

YDULDELOH L IL[H VH SRDWH IRORVL L UHOD LD

II) Fr =

Fv 0 Iq + Fc1, 100

unde: Fv0 PDQRSHUD YDULDELO GH UHJXO GLUHFW  Fc1 = Fondul de salarii constant (fix) efectiv
Q VLWXD LD LQGH[ ULL VDODULLORU UHVSHFWLY 

UH]XOWDWXO

RE LQXW

VH

FRUHFWHD]

FX

coeficientul K luat n calcul la stabilirea drepturilor individuale n perioada

1RW  5HFDOFXODUHD VH IDFH SH ED]D GDWHORU FXP SHULRDGHL 2S LXQHD SHQWUX R YDULDQW VDODUL]DUH VWDELOLWH FX IRUPD LLOH GH PXQF 

ulate, de la nceputul

VDX DOWD HVWH vQ IXQF LH GH FRQGL LLOH GH

Exemplu: Cazul (mil. lei) A B 2737 2737 2350 2350 387 387 2579 2579 2230 2230 45400 45400 48940 43500

1. Fond de salarii efectiv 2. din care: - variabile 3. - fixe 4. Fond de salarii planificat 5. din care: - variabile 6. Venituri din exploatare planificate 7. Venituri din exploatare realizate

 0RGLILFDUH UHODWLY

8. Indicele de realizare a veniturilor (%) 9. Fond de salarii recalculat (rd. 4 rd. 8)

107,8 2780 -43 2791 -54 -

96,12 2479 +258 2530 +207

(rd. 1 rd. 9) 11. Fond de salarii recalculat (II) (rd. 5 rd. 8 + rd. 3) 12. ModificarH UHODWLY (rd. 1 rd. 11)
5H]XOW UHODWLY  FDUH IDFH SURGXFWLYLW &H vQVXPHD] HVWH XQ HIHFW DO UHVSHFW ULL LL " Q

F  vQ FD]XO $ vQ DPEHOH VLWXD LL V D RE LQXW R HFRQRPLH FRUHOD LHL FD]XUL GLQWUH VWDWHOH FUHWHUHD GH SODW

LL L D VDODULXOXL PHGLX Q FD]XO % VLWXD LD HVWH LQYHUV  FRQGXFHUHD XQLW DPEHOH  PLO OHL

Pentru cazul A:
QWUHSULQGHUHD UHVSHFWLY L SRVLELOLWDWHD UHODWLY DGXV V VROLFLW RQRUHD] ILH E QFLL HOLEHUDUHD IRQGXOXL $U L GH VDODULL L DX QX GUHSWXULOH IRQGXO LQGLYLGXDOH UHFDOFXODW H[LVWD VROLFLWDW GDF

LQWHUYHQLW PRGLILF UL GHRVHELWH vQ FRQGL LLOH GH PXQF  HFRQRPLD SRDWH IL UHSDUWL]DW VDODULD LORU vQ IXQF LH GH FRQWULEX LD DX LQWHUYHQLW OD UHDOL]DUHD SURJUDPXOXL GH SURGXF LH 'DF

DQXPLWH FRQGL LL QRL PHFDQL]DUHD XQRU RSHUD LL WHKQRORJLL QRL HWF FDUH DX IDYRUL]DW FUHWHUHD SURGXFWLYLW DFWLYLW LL vQWUHSULQGHULL XUPkQG FD HFRQRPLD QXPDL VH DFHVWRUD GLIHUHQ D LL PXQFLL FD HIHFW DO FX LQIOD LD V ILH UHSDUWL]DW FRUHFWHD]

VDODULD LORU

Pentru cazul B:
'DF E QFLL UHODWLY QX VXQW FRQGL LL YD YD IL IL WRW OD VXSRUWDW RELHFWLYH GHRVHELWH IRQGXOXL VXEXQLW GH LOH VXPD VROLFLWDW LDU L QX GH QLYHOXO UHFDOFXODW FDUH GHS LUHD

-au realizat
ILH R

SURJUDPXO GH SURGXF LH VWDELOLW

1RW SUREOHP WUHEXLH V

: &RQVLGHU
XUP UHDVF

P F GRDU

UHFDOFXODUHD IRQGXOXL GH VDODULL WUHEXLH V LL FKLDU GDF UHDOL]DUHD VH VROLFLW FRQGL LLORU VWDELOLWH FX

H[FOXVLY

D XQLW

XQ vPSUXPXW EDQFD GHELWRUXO

pentru rambursarea creditelor la termenul stabilit.

Un alt aspect al autocontrolului fondului de salarii, n special n

XQLW LOH GH GH FRQVWUXF LL YROXPXO GH VH UHIHU OD VWDELOLUHD L HILORU GUHSWXULORU DO GH HFKLSH LQGLYLGXDOH WLPSXOXL PDLWULORU vQ L IXQF LH (YLGHQW OXFU UL GLUHFW H[HFXWDWH UHYLQH LPSOLFLW OXFUDW U VSXQGHUHD

FRQGXF WRULORU GH DQWLHUH SHQWUX PRGXO vQ FDUH VH HIHFWXHD] 'LVSHUVDUHD vQ WHULWRULX D RELHFWLYHORU GH FRQVWUXF LH vQJUHXQHD] ILQDQFLDUH D ILUPHL 'H DFHHD HVWH QHFHVDU V SULYHWH OkQJ RELHFWLY VLWXD LHL Q XWLODMHOH RELHFWLY DFHODL FRQWH[W VH vQVFULH FRQVWUXF LL D VWDGLXOXL SXQH vQ GH H[HPSOX GH FKHOWXLHOLOH SHQWUX IL]LF L VH IRORVHDVF

SRQWDMHOH H[HUFLWDUHD LL

XQXL FRQWURO GLUHFW OD WRDWH SXQFWHOH GH OXFUX GH F WUH FRQGXF WRULL DFWLYLW

DQXPLWH FRUHOD LL XQHL OXFU UL SH GDF OD XQ GH FDWHJRULL

GLQWUH GLIHUL L LQGLFDWRUL SHQWUX D SXWHD GHSLVWD HYHQWXDOHOH DEDWHUL vQ FHHD FH VXSUDHYDOXDUHD XQRU GUHSWXUL $VWIHO H[HFXWDUHD LPSOLF VH F L XQ FRQVXP GH PDWHULDOH vQWUH GH FRQVWUXF LL FRQVWDW GLVFUHSDQ H R DQDOL] PDQRSHU  'HFL

DFHVWH

FKHOWXLHOL vQVHDPQ

HVWH QHFHVDU

vQ GHWDOLX SHQWUX FODULILFDUHD

XUP ULUHD HYROX LHL FKLULHL SHQWUX WXUQ vQ IXQF LXQH FX V (YROX LD OD XQ vQ OD DSH D L PRUWDUH FDUH OXDUHD FRQGXF

GH

PDFDUDOH

EHWRDQH

FRQVLGHUDUH FRQFOX]LD F DF LRQH]H

H[HFX LH DQXPLWH

OXFU ULORU

DFHVWRU

cheltuieli poaWH
SULQ

HYLGHQ

HOHPHQWH

PDQRSHUD vQUHJLVWUDW LQWHUPHGLXO

QX VH MXVWLILF

vQ WRWDOLWDWH LL WUHEXLH V GH VSHFLDOLWDWH

Q LSRWH]D F

DSDU DVHPHQHD VLWXD LL FRQGXFHUHD XQLW RUJDQLVPHORU LQWHUQH

pentru

UHFXSHUDUHD VXPHORU DFRUGDWH QHMXVWLILFDW L VDQF LRQDUHD vQ FRQIRUPLWDWH FX QRUPHOH vQ YLJRDUH D FHORU YLQRYD L

3.10 Analiza cheltuielilor cu dobnzile

3HQWUX ILQDQ DUHD DFWLYLW DSHOD L OD vPSUXPXWXUL LL GH SURGXF LH L LQYHVWL LL XQLW SXUW WRDUH GH GREkQ]L LQVWDQ  DIHFWHD] LOH SRW GDF EDQFDUH ,QGLIHUHQW

DFHVWHD VH LQFOXG VDX QX vQ FRVWXUL vQ XOWLP SULQ EXJHWXO GH YHQLWXUL GDF UHVSHFWLY GREkQGD DIHUHQW SHQWUX GLVSRQLELOLW GREkQG  GH FUHGLWH FDUH VH GLIHUHQ LD]

SURILWXO QHW SHULRDG 

DO ILUPHL Q SUHYL]LRQDUHD QHFHVDUXOXL GH IRQGXUL SHQWUX R DQXPLW

HVWH FD]XO VH VWDELOHWH L QHFHVDUXO GH FUHGLWH SULQ DFWH QRUPDWLYH VH SRW SUHYHGHD FDWHJRULL SULQ SURFHQWXO GH GREkQG  vQ DFHODL WLPS XQ

LOH SURSULL S VWUDWH OD EDQF  VH vQFDVHD]

procent de
SUHYHGHUL

Q DQDOL]D FKHOWXLHOLORU FX GREkQ]LOH VH XUP UHWH HYROX LD DFHVWRUD FRPSDUDWLY FX SHULRDGD DQWHULRDU  SUHFXP L ID GH

explicndu-VH PRGLILFDUHD ORU SULQ SULVPD IDFWRULORU FDUH OH GHWHUPLQ  Obiectul analizei l poate FRQVWLWXL DWkW VXPD DEVROXW 6G FkW L QLYHOXO ORU
OD  OHL FLIU GH DIDFHUL &G Q SULPXO FD] VH IRORVHWH PRGHOXO

Sd =

Ki d , 100

unde: Ki = capitalul mprumutat; d = SURFHQWXO PHGLX GH GREkQG

3HQWUX FUHGLWHOH DIHUHQWH SRDWH IL H[SULPDW SULQ UHOD LD

 DFWLYLW LL GH H[SORDWDUH VXPD GREkQ]LL

Sd =

Sm K d 100 2

unde: Sm = soldul mediu al activelor circulante; K = FRWD SURFHQWXDO GH SDUWLFLSDUH D FUHGLWXOXL circulante; d = procentul mediu de dobnG 
&D QLYHO OD  OHL FLIU DQDOL]HD] FX DMXWRUXO UHOD LHL

OD ILQDQ DUHD DFWLYHORU

GH DIDFHUL FKHOWXLHOLOH FX GREkQ]LOH VH

Cd =

1 Dz K d T 10

unde: T = perioada (360 zile); Dz = YLWH]D GH URWD LH D DFWLYHORU FLUFXODQWH

)RUPXOD DQWHULRDU UH]XOW GLQ

0RGLILFDUHD VXPHL DEVROXWH D GREkQ]LL VH H[SOLF

CA Dz K d 100 T 1000 CA
2

SULQ LQIOXHQ D

activelor circulante 1 (Sm1 Sm 0 )K 0 d 0 100 2

cotei de participare a creditului 1 Sm1 (K 1 K 0 )d 0 100 2

SURFHQWXOXL PHGLX GH GREkQG

1 100 2
 XUPDUHD 0DMRUDUHD FUHWHULL

Sm1 K 1 (d1 d 0 )

Care este semniILFD LD LQIOXHQ HORU UHVSHFWLYH?

DFWLYHORU FLUFXODQWH vQ HVWH MXVWLILFDW QXPDL YLWH]HL L GDF GH GH HVWH SURGXF LHL FRQGL LLOH GH PHQ LQHULL URWD LH FRWD GH SUHY ]XW  Q FD] FRQWUDU vQVHDPQ vPSUXPXWXUL VXSOLPHQWDUH R LPRELOL]DUH GH IRQGXUL L vQ FRQVHFLQ GREkQG PDMRUDW

SXUW WRDUH

participare a creditului.
 0RGLILFDUHD SURFHQWXOXL GH GREkQG SRDWH IL H[SOLFDW SULQ VFKLPE UL vQ VWUXFWXUD FUHGLWHORU GDF SURFHQWXO HVWH GLIHUHQ LDW SULQ UHJOHPHQW UL OHJDOH

astfel; schimbarea proFHQWXOXL GH inclusiv indexarea acesteia.

SULQ LQWHUPHGLXO IDFWRULORU

GREkQG

&D QLYHO PHGLX OD  OHL SURGXF LH FKHOWXLHOLOH FX GREkQ]LOH VH DQDOL]HD]  9LWH]D GH URWD LH D DFWLYHORU FLUFXODQWH

 3URFHQWXO PHGLX GH GREkQG

1 (Dz1 Dz 0 ) K 0 d 0 T 10 2. Cota de participare a creditului 1 Dz1 (K 1 K 0 ) d 0 T 10

1 Dz1 K 1 (d1 d 0 ) T 10
0RGHOXO SUH]HQWDW SXQH vQ HYLGHQ DUH DFFHOHUDUHD YLWH]HL GH URWD LH vQ LPSRUWDQ D GHRVHELW HIHFWXOXL SH SH FDUH R FDUH GLPLQXDUHD

-l are

FRQWUDFWDUHD GH vPSUXPXWXUL PDL DOHV vQ FRQGL LLOH vQ FDUH GREkQGD DUH XQ

nivel ridicat.

3.11 Analiza costului pe produse

QFDGUDUHD vQ DF LXQHD DPSO GH VSRULUH FRQWLQX D UHQWDELOLW Li, analiza costului pe produs constituie etapa de nceput care precede punerea n aplicare a P VXULORU WHKQLFR-RUJDQL]DWRULFH PHQLWH V FRQGXF OD economisirea resurselor consumate. 2UJDQL]DUHD L GHVI XUDUHD SUDFWLFLL GH DQDOL] D FRVWXULORU SH SURGXVH HVWH FRQGL LRQDW GH PRGXO GH RUJDQL]DUH D HYLGHQ HL FKHOWX

ielilor
GH XQ

GH SURGXF LH L FDOFXO DO SUH XOXL GH FRVW SUHFXP L GH FDUDFWHUXO SURGXF LHL L JUDGXO GH FRPSOH[LWDWH DO DFHVWXLD $QDOL]D FRVWXOXL SH SURGXV XUP UHWH DEDWHUHD DFHVWXLD ID

anumit criteriu (costul planificat, normat, sau din anul precedent),

FDWHJRULLOH GH FKHOWXLHOL DUWLFROH GH FDOFXOD LH HOHPHQWH SULPDUH SH VHDPD F URUD V DX SURGXV PRGLILF UL SUHFXP L IDFWRULL FDUH DX GHWHUPLQDW DEDWHULOH

respective. care pot fL

2 LPSRUWDQ FRQWLQX D ILDELOLW

GHRVHELW

R SUH]LQW

LGHQWLILFDUHD UH]HUYHORU H[LVWHQWH LULL FDOLW SH LL SURGXVXOXL LPSOLF 'H L

PRELOL]DWH vQ SURFHVXO GH H[HFX LH D SURGXVXOXL SHQWUX UHGXFHUHD

D FRVWXOXL L PHQ LQHULL VDX FKLDU vPEXQ W LL DFHVWXLD PXQFLL GH DQDOL] FDUH VDX D

2UJDQL]DUHD

FRVWXULORU D IL

SURGXVH

SDUFXUJHUHD XUP WRDUH

lor etape:
SURGXVHORU XUPHD] VXSXVH DQDOL]HL

a)

6WDELOLUHD FRVWXULOH

UHJXO  VXQW FHUFHWDWH FX SULRULWDWH SURGXVHOH OD FDUH V DX GHS LW

DQWHFDOFXODWH

QRUPDWH

$FHDVWD

QX D

H[FOXGH

produsele la care s-DX

H[SHULHQ D SR]LWLY 

RE LQXW

HFRQRPLL

SHQWUX

JHQHUDOL]

b)

([SOLFDUHD PRGLILF ULL FRVWXOXL SH ILHFDUH SURGXV SULQ FRQWULEX LD DEVROXW L SURFHQWXDO D ILHF UHL

SULVPD OD

categoriilor de cheltuieli (articole sau elemente), stabilindu-se

FDWHJRULL PRGLILFDUHD WRWDO D FRVWXOXL SH SURGXV  $VWIHO PRGLILFDUHD FKHOWXLHOLORU SULQ FX

c)

AnalL]D HOHPHQWHORU GH FKHOWXLHOL SULQ SULVPD IDFWRULORU GLUHF L L

LQGLUHF L

materiile prime, materialele directe (FKP VH H[SOLF

 ,QIOXHQ D FRQVXPXULORU VSHFLILFH FV

GH

LQIOXHQ

(cs1 cs 0 )p 0

2 ,QIOXHQ D SUH XOXL PDWHULDOHORU S p cs1 (p1 0)

Cheltuielile cu salariile directe sunt dependente de timpul de FRQVXPDW SH XQLWDWH GH SURGXV W L salariul mediu pe unitate de timp (sh). Deci, FKU VH H[SOLF SULQ LQIOXHQ D timpXOXL GH PXQF Chs 0 (t 1 t 0 )sh 0 sau Chs 0 Iw unde: t0 ,Z LQGLFHOH SURGXFWLYLW LL PXQFLL HVWH FDOFXODW SH ED]D UHOD LHL t1 salariul mediu orar Chs 0 t 1 (sh 1 sh 0 ) sau Chs1 Iw Cheltuielile indirecte (chi), fiind reparWL]DWH SH ED] GH FKHL GH reparti LH VH YRU DQDOL]D SULQ SULVPD PRGLILF ULL
PXQF YROXPXOXL UHOD LHL SURGXF LHL LQIOXHQ D F UXLD VH GHWHUPLQ SH ED]D

Chi 0 Chi 0 Iq
q unde: Iq = 1 q0 sumei absolute a cheltuielilor indirecte: Chi 0 Chi1 Iq
UHOD LLOH FRVWXO DQWHFDOFXODW VH YD vQORFXL FX QLYHOXO QRUPDW vQ OHJ WXU ORU ID QHFHVDU 1RW  Q FD]XO FkQG FRPSDUD LD VH IDFH FX FRVWXO QRUPDW vQ WRDWH ,GHQWLILFDUHD XQRU QRL UH]HUYH GH UHGXFHUH D FRVWXULORU WUHEXLH I FXW FX SRQGHUHD GLIHULWHORU FDWHJRULL GH FKHOWXLHOL L GH GHSHQGHQ D DEVROXW  PDWHULL SULPH VDODULL GLUHFWH HVWH D WXWXURU FDWHJRULLORU GH FRQVXPXUL Q FDUH vQ JHQHUDO VXQW YDULDELOH SH LQGLUHFWH VHDPD GH YROXPXO SURGXF LHL $VWIHO SHQWUX FKHOWXLHOLOH IL[H SH XQLWDWH GH R DQDOL] WHKQLFR HFRQRPLF

SURGXV GHFL YDULDELOH vQ VXP

ceea ce prLYHWH
HYLGHQW WUHEXLH

FKHOWXLHOLOH V VH LQ

XQLWDWH GH SURGXV SRW IL PLFRUDWH SULQ RSWLPL]DUHD YROXPXOXL GH SURGXF LH GH H[LVWHQ D UHVXUVHORU PDWHULDOH FDSDFLWDWHD GH SURGXF LH L SRVLELOLW YDULD LHL YROXPXOXL GH DFWLYLWDWH LOH GH

Q WHRULD L SUDFWLFD HFRQRPLF  SRDWH IL SXV JUDG GH IRORVLUH

desfacere).

SUREOHPD LQIOXHQ HL FDSDFLW LL

DVXSUD

costului unitar.
3HQWUX VLWXD LH

vQ HOHJH QRUPDO

DFHVW

PHFDQLVP

VH

DUH

vQ

YHGHUH

XUP WRDUHD

1. volumul
D FDSDFLW

GH DFWLYLWDWH FDUH DVLJXU

R IRORVLUH UD LRQDO

 EXF L 2. cheltuieli fixe 30000 mii lei; 3. cheltuieli variabile (20000 4000) = 80000 mii lei; 4. cheltuieli totale (2 + 3) = 110000 mii lei; 5. cost pe unitate lei (4 : 1) = 27500 lei.
6H SUHVXSXQH F  GDWRULW UHGXFHULL FHUHULL VH PLFRUHD] YD IL YROXPXO GH DFWLYLWDWH OD  EXF Q DFHVWH FRQGL LL FRVWXO SH EXFDW

LL GH SURGXF LH

20000 +

Q FRQVHFLQ

30000 = 28571 lei 3500

 HIHFWXO VF GHULL YROXPXOXL GH DFWLYLW

ate este 28571

27500 = 1071 lei

'DF SUH XO GH YkQ]DUH HVWH HVWLPDW OD  OHL UH]XOWDWXO VFRQWDW

este: a) vQ FD]XO DFWLYLW LL QRUPDOH (50000 27500) 4000 = 90000 mii lei b) vQ FD]XO VXEDFWLYLW LL (50000 28571) 3500 = 75002 mii lei c) efHFWXO VXEDFWLYLW LL E a) = -14998 mii lei

3.12 Analiza costului produselor comparabile Produsele comparabile sunt acele produse care s-au fabricat n cadrul
XQLW LL L vQ SHULRDGD DQWHULRDU HYLGHQ LD] XQRU IHQRPHQH SHQWUX FDUH FHOHL SHQWUX FDUH VH IDFH DQDOL]D 7HRULD L WRW PDL L vQ F SUHJQDQW UDSRUW HVWH FX QHFHVLWDWHD UHDOL] ULOH XUP ULULL SHULRDGHL V VH

practica eFRQRPLF
HYROX LHL FRPSDUDELOH VWDELOHDVF

HFRQRPLFH VH

precedente. ntr-R DVHPHQHD VLWXD LH VH DIO

FRQVLGHU

L FKHOWXLHOLOH DIHUHQWH SURGXF LHL DEVROXW QHFHVDU

XQ FRVW DQWHFDOFXODW SODQLILFDW SURJUDPDW FDUH YD IL VLPEROL]DW WUHEXLH V ILH OXDWH vQ FRQVLGHUDUH HYROX LD QRLOH FRQGL LL GH vQ FDUH VH

n continuare cu Cp), ntruct:

GHVI RDU DFWLYLWDWHD SUH XULORU FXPS UDUH

salariilor, sistemul de impozitare);

HVWH VH

QHFHVDU

VH

VWDELOHDVF DVXSUD

ED]D

GH

FRQWURO vQ GH FDUH

FKHOWXLHOLORU UHDOL]HD] OXDW VH vQ YD

pe centre generatoare;
LPSXQH XQ FRQWURO PRGXOXL VH SURJUDPHOH VWDELOLWH FRVWXULORU SHQWUX SHULRDGD JHVWLXQH

considerare.
3HQWUX HYROX LD DIHUHQWH SURGXVHORU 0 FRPSDUDELOH IRORVL PRGLILFDUHD DEVROXW 0 L SURFHQWXDO  D FRVWXOXL FDUH DUH XQ QLYHO SUHY ]XW S L XQXO UHDOL]DW 

Astfel, pentru un produs: Mp = cp c0 n care: c0 = precedente M1 = c1 c0 c p c0 cp 100 Mp% = 100 sau 1 c c0 0 c1 c c0 1 M1 % = 1 100 sau 100 c0 c0 'DF UH]XOWDWXO DUH VHPQXO PLQXV - vQVHDPQ
DEVROXW VHPQLILF VDX SURFHQWXDO  ID R PDMRUDUH GLQ WDEHOXO  UH]XOW VLWXD LL GLIHULWH F

costul

perioadei

R UHGXFHUH D FRVWXOXL HVWH VHPQXO 

GH DQXO SUHFHGHQW LDU GDF

Pe baza daWHORU Astfel: produsul A: s-D

FHOH WUHL SURGXVH IRORVLWH

SHQWUX H[HPSOLILFDUH SUH]LQW

SUHY ]XW R PDMRUDUH D FRVWXOXL ID ]XW R UHGXFHUH UHDOL]DW

GH DQXO SUHFHGHQW L V

-a

UHDOL]DW R FUHWHUH PDL PDUH

produsul B: s-D SUHY produsul C: s-D SUHY

GH DFHHD SUHY ]XW SUHY ]XW

vQWU R SURSRU LH PDL PDUH

]XW R UHGXFHUH L V D UHDOL]DW R FUHWHUH D FRVWXOXL

Q WRDWH FD]XULOH PRGLILFDUHD DEVROXW HVWH GHWHUPLQDW F1

L SURFHQWXDO  UHDOL]DW

ID

GH YDULD LD FRVWXOXL HIHFWLY ID

GH FHO

PRGLILFDUHD DEVROXW

PRGLILFDUHD SURFHQWXDO

cp ; c1 c p
c0


100 .

Astfel, pentru produsul A:

PRGLILFDUHD DEVROXW

1250 = +1900 lei c1 cp = 71900 70000 = +1900 lei

PRGLILFDUHD SURFHQWXDO

c1 c p 71900 70000 = 100 = +2,76% c0 68750

Modificare Cost pe unitate de produs (lei Nr. crt .

\]^Q_#` ab
(lei)

Tabelul 3.19 c _#d8e f e g\hiLj8h _#gikb a\`

(%)

j6hlga8hikb
Produs

j8higid8ikb
Pr. (c0) 68750 113000 789488
SXQFW GH FRVWXULORU

j6him nab
(cp) 70000 105860 780000
YHGHUH SHQWUX

j6him nab
(cp c0)

op qr stu

realizat (c1-c0)

realizat

realizat (c1) 71900 103750 802000

SUDFWLF vQWUHDJD

cp c 1100 0
+1,82 -6,32 -1,20
V ILH VWD

c1 c 1 100 0
+4,58 -8,19 +1,58

1 2 3

A B C
'LQ

+1250 -7140 -9488

HVWH

+3150 -9250 +12512

QHFHVDU

bilit efectul
SHQWUX D IL

PRGLILF ULL

SURGXF LH

FRPSDUDELO 

corelat cu venitul aferent acesteia, att n faza de elaborare a bugetului de

YHQLWXUL L FKHOWXLHOL FkW L FHD GH H[HFX LH

Deci:

M p = q p cp c0 M1 = q1 (c1 c 0 )

3H

ED]D

q pc p 1100 Mp % = q pc0 q1c1 M1 % = 1 100 q 1c 0

FRVWXULORU SH SURGXVH

GLQ

WDEHOXO

 vQ

FDQWLW

LL

SUHY ]XWH L UHDOL]DWH VH VWDELOHVF XUP WRDUHOH GDWH VLQWHWLFH  3URGXF LD FRPSDUDELO SUHY ]XW  H[SULPDW

cost din anul precedent: qpc0 = 25500 mil. lei

FRVW SUHY ]XW

qpcp = 25810 mil. lei

H[SULPDW vQ

 3URGXF LD FRPSDUDELO  UHDOL]DW

costul din anul precedent: q1c0 = 26430 mil. lei

FRVW SUHY ]XW

q1cp = 26034 mil. lei

cost realizat: q1c1 = 26266 mil. lei

PRGLILFDUHD DEVROXW

'LQ GDWHOH PHQ LRQDWH UH]XOW 

Mp = 25810 25500 = +310 mil. lei

SUHY ]XW

SUHY ]XW

PRGLILFDUHD SURFHQWXDO

M1 = 26266 26430 = -164 mil. lei modificarea procHQWXDO UHDOL]DW 26266 Mp% = 1100 = 0,62% 26430 Q VLWXD LD GDW  V-D SUHY ]XW R FUHWHUH D FRVWXULORU FX  PLO OHL UHVSHFWLY   L V-a realizat o reducere de 164 mil. lei, respectiv   $FHVWH UH]XOWDWH WUHEXLH V ILH DQDOL]DWH SULQ SULVPD IDFWorilor care le
GHWHUPLQ  IDSW FH LPSOLF $QDOL]D PRGLILF R WUDWDUH VHSDUDW ULL SURFHQWXDOH D ORU PHGLL D FRVWXOXL SURGXVHORU SH HVWH HIHFWXO D

PRGLILFDUHD DEVROXW

25810 Mp % = 1100 = +1,22% 25500

UHDOL]DW

comparabile )LLQG R P fiecare produs (m%). Deci:

Mp % = M1 % =

ULPH PHGLH PRGLILFDUHD SURFHQWXDO

GRL IDFWRUL UHVSHFWLY VWUXFWXUD SURGXF LHL J L PRGLILFDUHD SURFHQWXDO

gp mp % ,
100 g1 m1 % 100

iar

3HQWUX D SXWHD VWDELOL LQIOXHQ D VWUXFWXULL HVWH QHFHVDU PRGLILF ULL SURFHQWXDOH vQ IXQF LH GH VWUXFWXUD HIHFWLY D

UHFDOFXODUHD SURGXF LHL L

moGLILFDUHD SURFHQWXDO
M %=
FHHD FH HFKLYDOHD]

g1 mp %
100

SH SURGXVH SUHY ]XW  UHVSHFWLY

FX

q1c p 26034 100 = 1 1100 = 1,50% q c 26430 1 0

Q FRQVHFLQ

M % = 0,62 (+ 1,22 ) = 1,84%

din care:
LQIOXHQ D VWUXFWXULL 'DF FRVWXULORU vQUHJLVWUHD] vQ FD LQIOXHQ D FRVWXULORU SH SURGX DQVDPEOXO HIHFW DO

1,50 1,22 = -2,72% se 0,62 (-1,50) = +0,88%

SURGXVHORU FRPSDUDELOH OD UH]XOW R UHGXFHUH D VH VWUXFWXULL SURGXF LHL QLYHOXO SURGXVHORU

R FUHWHUH D FRVWXULORU 'HFL vQ VSDWHOH XQXL UH]XOWDW DSDUHQW

pozitiv, se ascund rezultate negative.

$QDOL]D PRGLILF ULL &D DEVROXWH DWDUH D FRVWXULORU DIHUHQWH D SURGXF LHL HVWH

comparabile.
FD IDFWRU LQIOXHQ DW

Q FDGUXO PRGLILF ULL DEVROXWH LQWHUYLQH L YROXPXO SURGXF LHL PRGLILFDUHD DEVROXW FRVWXULORU

GLPHQVLRQDO

GH YROXPXO SURGXF LHL VWUXFWXUD DFHVWHLD L FRVWXO SH SURGXVH Q

exemplul dat:
M = -164 (+310) = -474 mil. lei

din care:

q1c0 ( q pcp q pc0 ) ( q pcp q pc0 )= q pc0

= 26430 (25810 25500) (25810 25500) = +321 (+310) = +11 mil. lei 25500
,QIOXHQ D VWUXFWXULL

IQIOXHQ D YROXPXOXL SURGXF LHL

q1c 0 ( q1c p q1c 0 ) q ( q p c p q p c 0 )= c p 0 (26034 26430) (+ 321) = 717 mil. lei

,QIOXHQ D FRVWXOXL

q1c1 q1c p = 26266 26034 = +232 mil. lei

FDUH FRPSDUDELOH Q DFWLYLWDWHD SUDFWLF  WUHEXLH V D Q FD]XO PRGLILF ULL DEVROXWH VWUXFWXUD SURGXF LHL FRQVWLWXLH IDFWRUXO FRQGXV vQ ILQDO OD UHDOL]DUHD HFRQRPLLORU FX VH LGHQWLILFH FRQGL LLOH vQ FDUH VDWLVIDFHUHD FDX]HOH REOLJD LLORU DIHUHQWH SURGXF LHL

s-a modificat structuUD

LGHQWLILF SURGXVHOH

DVXPDWH SULQ FRQWUDFWH L UHDOL]DUHD YHQLWXULORU SUHY ]XWH 'H DVHPHQHD VH GHWHUPLQDW vQ YHGHUHD IRUPXO ULL P VXULORU FDUH VH LPSXQ SHULRDGD XUP WRDUH OD FDUH DX FUHVFXW FRVWXULOH

vQ

FRUHOD LH

GLUHFW

FDUH OH-au a fi luate pentru

n exemplul dat, s-D DYXW vQ YHGHUH XUP

M1 % M p % =

M1 M p =

WRDUHD VLWXD LH V D

$FHDVWD FRVWXOXL

vQVHDPQ ID GH

F DQXO

SUHY ]XW L V

FUHWHUH

SUHFHGHQW DEVROXW

UHGXFHUH DWkW vQ VXP

-a realizat o  FkW L procentual.

D FRVWXULORU

3RW IL vQWkOQLWH L DOWH FD]XUL FXP DU IL

M1 % M p % = + M1 M p = +
M1 % M p % = + M1 M p =

5H]XOW

V D

SUHY ]XW

FUHWHUH

DIHUHQWH SURGXF LHL FRPSDUDELO  FDUH V

-a realizat

ntr-R SURSRU LH PDL PDUH Prevederile sunt similare cazului anterior, cu

GHRVHELUHD F SUHY ]XWH vQ P ULPL DEVROXWH FUHWHUHD D QHUHDOL] ULL SURGXF LHL IRVW PDL PLF  GDWRULW

M1 % M p % = M1 M p = +
M1 % M p % =

S-D SUHY ]XW realizat ntr-R S-D Se

VXP SUHY ]XW

FUHWHUH

GH

FRVWXUL

GDU

-a

SURSRU LH PDL PLF

vQ FRQGL LLOH

GHS LULL SURGXF LHL SUHY ]XWH R UHGXFHUH D FRVWXULORU L V

-a

M1 M p =

UHDOL]DW vQ SURSRU LH PDL PDUH

M1 % M p % = M1 % M p % = + M1 % M p % = + M1 M p =

prevede
DEVROXW

reducerea
VH

costului, care
1HUHDOL]DUHD RE LQHULL

se
vQ XQHL

UHDOL]HD]

QXPDL

SURFHQWXDO GDWRUHD]

SURGXF LL VXE FHD SUHY ]XW  6LPLODU VLWXD LHL SUHFHGHQWH vQ FHHD FH SULYHWH

prevederile, dar s-D

SURGXF LHL QHIDYRUDELO FDUH D

UHDOL]DW

FUHWHUH

DQLKLODW

LQIOXHQ D

D VWUXFWXULL L FRVWXOXL FRQVWUXF LL VH XWLOL]HD] DFHHDL

n ca]XO

vQWUHSULQGHULORU

GH

PHWRGRORJLH FX GHRVHELUHD F GLQ SHULRDGD SUHFHGHQW

VH DUH vQ YHGHUH vQWUHDJD SURGXF LH LDU FRVWXO

HVWH vQORFXLW FX

costul de deviz.

3.13 Analiza costului marginal

Q XQLW FDSDFLW LOH GLQ VHFWRUXO SULPDU VH UHFRPDQG L IRORVLUHD vQ DQDOL] L D

costurilor marginale, care pot servi ca orientare n decizii privind folosirea

LL GH SURGXF LH L vQ FHOHODOWH XQLW

&RVWXO

PDUJLQDO

GXS

FXP

VH

WLH

HVWH

FRVWXO

XQHL

XQLW

s. Nivelul costului marginal comparat cu cel mediu (deci al ntregului volum al produsului) permite aprecierea punctului n care ntreprinderea (cu
OXDUHD vQ FRQVLGHUDUH D vQF UF ULL FDSDFLW LL vL GHVI RDU LL LQGLF DFWLYLWDWHD FX DSURSLHUHD FHD FX HFKLOLEUXO

DGL LRQDOH GH SURGX

costurile cele mai mici. Un DVHPHQHD JUDG relativ.

GH vQF UFDUH D FDSDFLW

PDL PDUH D FRVWXOXL PDUJLQDO GH FRVWXO PHGLX L HFKLYDOHD]

Acceptarea zonei de degresie (cnd ambele costuri scad) sau zonei

GH SURJUHVLH FkQG FRVWXO PDUJLQDO GHS HWH FRVWXO PHGLX VH MXVWLILF

numai pe baza altor variabile ale deciziei.

3HQWUX H[HPSOLILFDUH VH IRORVHVF XUP WRDUHOH GDWH

Tabelul 3.20 Nr. crt. 1 2 3 4 5 6 Indicatori

3URGXF LD WRWDO &KHOWXLHOL vQ WRQH GH SURGXF LH PLO WRWDOH

P0 150000 75000 500 540 40 6000

P1 200000 103000 515 540 25 5000

lei)
&RVW PHGLX PLL OHLWRQ  3UH GH YkQ]DUH PLL OHL

Profitul unitar (mii lei) Profitul total (mil. lei)

5H]XOW F  ID GH ED]D GH FRPSDUD LH V-D vQUHJLVWUDW R GHS LUH D costului mediu cu 15 mii lHL (YLGHQW H[SOLFD LD R FRQVWLWXLH VSRULUHD cheltuielilor totale ntr-XQ ULWP PDL PDUH GHFkW FHO DO YROXPXOXL SURGXF LHL Costul marginal (CM), potrivit literaturii de specialitate3 VH RE LQH SH ED]D UHOD LHL

Ch1 Ch 0 103000 75000 = = 560 mii lei WRQ q1 q 0 200000 150000

Comparativ
3

FX

FRVWXO

PHGLX

SUHY ]XW

FRVWXO

PDUJLQDO

HVWH

PDL

*K &kUVWHD & 2SUHD &DOFXOD LD FRVWXULORU ('3 %XFXUHWL SDJ 

PDUH IDSW FH D GHWHUPLQDW R FUHWHUH D FRVWXOXL OHLWRQ

mediu efectiv cu 15 mii , ceea ce s-a reflectat n mod negativ att asupra profitului unitar ct L WRWDO GHFL vQ FD]XO GH ID RELHFWLYXO SULRULWDr l-D FRQVWLWXLW RE LQHUHD XQHL
SURGXF LL VXSOLPHQWDUH $FWLYLWDWHD SUDFWLF GH DQDOL] L LPSOLFLW GH FRQGXFHUH FHUH

VROX LRQDUHD XQRU SUREOHPH FXP DU IL GH H[HPSOX GHWHUPLQDUHD QLYHOXOXL PD[LP vQ FDUH SOXVXO GH SURGXF LH QHFHVLW SHQWUX FD XQLWDWHD V ]HUR DGLF 3HQWUX FD 3 SXQFWXO GH HFKLOLEUX  FRVWXO PDUJLQDO PD[LP HVWH GDW GH UHOD LD FKHOWXLHOL VXSOLPH

ntare sporite
ILH HJDO FX

UHDOL]H]H SURILWXO SUHY ]XW VDX SURILWXO V

q1p1 q 0c 0 200000 540 150000 500 = = 660 mii lei WRQ q1 q 0 200000 150000
'HFL SkQ UHQWDELO GDF 5HDOL]DUHD GHWHUPLQ OD DFHVW QLYHO DO FRVWXOXL LQWHJUDO D SURILWXOXL

marginal, ntreprinderea este

SUHVXSXQH RE LQHUHD

UHDOL]HD]

SURGXF LD GH  WRQH SUHY ]XW

SURGXF LHL VXSOLPHQWDUH FX XQ FRVW LQIHULRU FHOXL VWDELOLW DQWHULRU FRVW FDUH VH

q1p1 (q 0 c 0 + P0 ) 200000 540 ( 150000 500 + 6000) = 540 mii lei WRQ = q1 q 0 200000 150000
F  SHQWUX D VH UHDOL]D SURILWXO SUHY ]XW FRVWXO PDUJLQDO ILH LQIHULRU SUH XOXL GH YkQ]DUH R GHRVHELW PD[LP RE LQXW DO V XWLOLWDWH SUDFWLF FKHOWXLHOLORU QX FRQGXF GH OD SH ORFXUL GH SURGXF LH SUHFXP L

SH ED]D UHOD LHL

5H]XOW WUHEXLH V

&XQRDWHUHD DFHVWRU HOHPHQWH SUH]LQW

n determinarea unor bugete de cheltuieli

XUP ULUHD SURGXF LH PRGXOXL DVWIHO GH vQFDGUDUH SURGXF LD vQ vQFkW

QLYHOXO

VXSOLPHQWDU

intrarea n zona pierderilor.

$F LXQHD GH UHGXFHUH D FRVWXULORU WUHEXLH vQFDGUDW PHWRGRORJLH SHQWUX D L VH DVLJXUD ULJRDUHD WLLQ LILF LPSXV vQWU R DQXPLW

GH VHPQLILFD LD

economico-VRFLDO

D HFRQRPLVLULL WXWXURU FDWHJRULLORU GH UHVXUVH L GH DF LXQH

Q DFHVW VHQV SRW H[LVWD XUP WRDUHOH PRGDOLW  Q FRQGL LLOH XQXL SUH R UHQWDELOLWDWH SURSXV GH Yk

nzare dat VH VWDELOHWH GUHSW RELHFWLY

D IL UHDOL]DW  IDSW FH LPSXQH GHWHUPLQDUHD QRXOXL

nivel al costului pe produs.

3HQWUX DFHDVWD VH SRUQHWH GH OD UHOD LD

px = R, x

unde: p = SUH XO GH YkQ]DUH R = rata renWDELOLW LL x = nivelul costului pe produs care va fi notat n continuare cu c. p 3H ED]D UHOD LHL SUHFHGHQWH x = 1+ R
'DF  GH H[HPSOX XQ SURGXV DUH XUP WRDUHD VLWXD LH

- SUH XO GH YkQ]DUH - FRVW GH SURGXF LH - beneficiu - rentabilitate

3HQWUX FD QLYHOXO UHQWDELOLW VH HVWLPHD] )D UHOD LD OD

 OHLWRQ

400000 leLWRQ 40000 lei 10%

LL V ILH PLQLP   FRVWXO SURGXVXOXL

GH FRVWXO H[LVWHQW VH SRDWH VWDELOL L LQGLFHOH FRVWXOXL IRORVLQG

440000 392857 . 1 + 0,12

P P 440000 Ic = 1 + R 100 = 1000 = = 0,9821 (1 + R )c 0 (1 + 0,12)400000 c0 FHHD FH vQVHDPQ R UHGXFHUH GH    'HFL SHQWUX D RE LQH R rentabilitate de 12% se impune o reducere a costului cu 1,79%.
Q DVHPHQHD FRQWLQXDUH UHGXFHUH WUHEXLH L DLFL SUHFL]DWH SRW IL F LOH SULQ FDUH VH SRDWH FD H[LVW GH UHDOL]D R PDL PXOWH VROX LL H[HPSOX GHWHUPLQDUHD FRWHL GH UHGXFHUH FDUH VH SRDWH RE LQH SH VHDPD FKHOWXLHOLORU FRQYHQ LRQDOH FRQVWDQWH SULQ PDMRUDUHD SURGXF LHL GDF

FDSDFLWDWHD

GLVSRQLELO  IRORVLQGX VH UHOD LD

gf 0 gf 0 . Ig

unde: gf0 = ponderea cheltuielilor fixe n costul produsului din perioada de

UHIHULQ 

Iq =

LQGLFHOH SURGXF LHL IL]LFH SRVLELO GH UHDOL]DW $VWIHO GDF JI0

= 30%, iar Iq = 10%, atunci reducerea costului pe 30 seama cheltuielilor fixe va fi de 1,43% 30 FHHD FH vQVHDPQ F 1,05
UHVWXO  FKHOWXLHOLORU FHOH YDULDELOH WUHEXLH V DVLJXUH GLIHUHQ D SkQ  IDSW FH LPSXQH DQDOL]D GHWDOLDW

OD

D ILHF UHL FDWHJRULL GH FKHOWXLHOL

DFHDVW

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VH

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FRQVXPXULOH

GH

PDWHULDOH

manoper
Q

vQ YHGHUHD J VLULL VROX LLORU QHFHVDUH SHQWUX vQFDGUDUHD vQ F  UHVWULF LLOH PHQ LRQDWH DQWHULRU QX SHUPLW VSRULUHD

UHGXFHUHD VWDELOLW  SURGXF LHL IL]LFH DWXQFL vQWUHDJD UHGXFHUH WUHEXLH V ILH DVLJXUDW QXPDL SH

seama cheltuielilRU YDULDELOH &RQVLGHU P F GH UHJXO DFFHQWXO SULQFLSDO trebuie pus tocmai pe aceste cheltuieli care la foarte multe produse din toate
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stabilindu-se rezervele interne care pot fi mobilizate. Astfel, n cazul

FRQVXPXULORU ED] VSHFLILFH WHKQRORJLHL GH IDEULFD LH

posibilitate de nlocuire a unor materiale.

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Em gmo1 4 , 100

3HQWUX FKHOWXLHOLOH FX VDODULLOH GLUHFWH VH DUH vQ YHGHUH FRUHOD LD GLQWUH SULQ WLPSXO FRQVXPDW L VDODUL

ul mediu
FX

orar.
5HGXFHUHD FRVWXOXL FD HIHFW DO UHVSHFW ULL FRUHOD LHL VH GHWHUPLQ DMXWRUXO UHOD LHL

Is 1gr0 , Iw

unde: Ir = indicele salariilor directe; Iw = LQGLFHOH SURGXFWLYLW LL PXQFLL gr0 = ponderea cheltuielilor cu salariile directe n costul produsului.
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vQ

FD]XO

UHGXFHUHD FRVWXOXL

costului.
3ULQ vQVXPDUHD VH WRWDOXO UHGXFHULL

produsului respectLY L QRXO QLYHO GH UHQWDELOLWDWH Att ntr-XQ FD] FkW L vQ DOWXO FHOH SUH]HQWDWH

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-organizatorice

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VH

DWLQJ

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OD

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fiHF

UXL SURGXV LDU SULQ FXPXODUH SHQWUX vQWUHDJD SURGXF LH PDUI 0 VXUD DFHDVW UHQWDELOLWDWH

IDEULFDW  PDWHULDOL]D

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LL SURGXF LHL L GH FRQFRUGDQ D FX FHUHUHD SHQWUX SUH]HQWDWH SRW IL IRUPXODWH U VSXQVXUL OD XQHOH

produsele respective.
Q ED]D UHOD LLORU SUREOHPH FDUH YL]HD] QLYHOXO UDWHL UHQWDELOLW SHQWUX D VH PHQ LQH HYROX LD SUH XOXL GH YkQ]DUH vQ IXQF LH GH FRVWXUL L LL $VWIHO GDF QLYHOXO VH DGPLWH R FXQRDWHUH D FRVWXULORU LL FDUH WUHEXLH V ILH SUH XO GH XQRU IDFWRUL LQGHSHQGHQ L GH vQWUHSULQGHUH UHQWDELOLW

FX XQ DQXPLW SURFHQW GDWRULW

vnzare ?
Q DFHVW VFRS VH IRORVHWH UHOD LD

a) p = c0 (1 + R)
UHQWDELOLW UH]XOW LL GH  GLQ FDOFXOXO

sau

6H DGPLWH R FUHWHUH D FRVWXOXL FX 

b) p = c0 (1 + R) Ic.

 3HQWUX D VH PHQ LQH

UDWD

 SUH XO GH YkQ]DUH WUHEXLH V

ILH GH  OHL DD FXP

c = 400000 1,05 = 420000 lei p = 420000 (1 + 0,10) = 462000 lei sau p = 400000 (1 + 0,10) 1,05 = 462000 lei
Q IXQF LH GH HYROX LD UDSRUWXOXL GLQWUH FHUHUH L RIHUW GHSLQGH

UHDOL]DUHD QRXOXL SUH 

$SOLFD LL L vQWUHE

UL

economico-finanFLDUL 6
Nr. crt. 1 2 3 4 5 6 7 8

VH

1.

VWDELOHDVF

VH UHDOL]H]H DQDOL]D IDFWRULDO HIHFWHOH DVXSUD

VH LQWHUSUHWH]H UH]XOWDWHOH

PRGLILF ULL

D &KHOWXLHOLORU OD  OHL &$ SULQFLSDOLORU LQGLFDWRUL

- mil lei Indicatori Cifra de afaceri Cheltuieli aferente cifrei de afaceri Profit aferent cifrei de afaceri Active de exploatare Active fixe Capital propriu
1XP U GH VDODULD L SHUVRDQH &KHOWXLHOL OD  OHL FLIU

Simbol qp qc Pr AE MF Kp N C

GH DIDFHUL

(lei)

P0 10800 8600 2200 15500 8900 16000 220 796,3

P1 12700 9900 2800 17400 9200 16500 215 779,5

este indicele

costurilor.

Ip = 121%, Ic = 117% unde Ip

Q6Q 6

 # 8! 6  c

2. 6 VH LQWHUSUHWH]H FD]XO ICA = 110% n CA = cifra de afaceri care, ICh = 108% Ch = cheltuieli totale aferente cifrei de afaceri Chv = cheltuieli variabile aferente cifrei IC h v = 109% de afaceri
&KHOWXLHOLORU YDULDELOH OD  OHL FLIU FD]XO LQIOXHQ HL FX VHPQXO

3.

VH

GHWHUPLQH

LQIOXHQ D

VWUXFWXULL

GH DIDFHUL L V

SURGXF LHL

YkQGXWH

VH LQWHUSUHWH]H

DVXSUD

. CF = suma cheltuielilor fixe q = YROXPXO SURGXF LHL YkQGXWH

4. 6 VH LQWHUSUHWH]H FD]XO ICA = 108% unde ICF = 102% Iq = 107% 6. $QDOL]D IDFWRULDO de afaceri (Ca).
Nr. crt.

5. Ce este risFXO GH H[SORDWDUH RSHUD LRQDO?

D &KHOWXLHOLORU FX DPRUWL]DUHD OD  OHL FLIU

- mil lei Indicatori Simbol P0 P1

1 2 3 4 5 6

Cifra de afaceri Suma cheltuielilor cu amortizarea Valoarea medie a mijloacelor fixe

categorii de active fixe (%) Cheltuieli cu amortizarea la 1000 lei CA (lei)

" "G  Q #8 8 Qy!#  8 8 " , 6!#Q# yG # 8 Qy

CA A MF ca carec Ca

10500 420 4200 10 40

11400 399 3562,5 11,2 10,75 35

7. 6 VH LQWHUSUHWH]H FD]XO ICA = 112% unde W a SURGXFWLYLWDWHD DQXDO I Wa = 109% Sa = salariul mediu anual I Sa = 107%
,QWHUSUHWDUH HFRQRPLF 

D PXQFLL

8.

$QDOL]D IDFWRULDO

D &KHOWXLHOLORU FX GREkQ]LOH OD  OHL &$

- mil lei Nr. crt. 1 2 3 4 5 6 7 Indicatori Cifra de afaceri Active circulante Simbol CA AC Dz Ki K d Sd P0 40500 1687,5 15 506,25 30 40 202,5 P1 44000 1711,11 14 581,78 34 37,5 218,17

9LWH]D GH URWD LH D DFWLYHORU FLUFXODQWH ]LOH

Valoarea creditului mprumutat Ponderea creditelor n total active circulante (%) Procentul (rata) mediu al dobnzii (%) Cheltuieli cu dobnzile

T = 360 zile

9. 6 VH LQWHUSUHWH]H FD]XO ICA = 108% n care I Ch v = 109% ICh = 107% I Ch d = 101% IFs = 109% IWa = 105%
PRGLILFDUH DEVROXW

Ch = suma cheltuielilor totale Chd = suma cheltuielilor cu dobnzile Chv = suma cheltuielilor variabile Fs = fondul de salarii
:D SURGXFWLYLWDWHD PHGLH DQXDO

CA = cifra de afaceri
SURGXF LHL PDUI FRPSDUDELO

10.

$QDOL]D

L SURFHQWXDO  ,QWHUSUHWDUH HFRQRPLF 

FRVWXULORU

DIHUHQWH

mil lei Nr. crt. 1 2 3 Indicatori

3URGXF LD 3URGXF LD PDUI PDUI FRPSDUDELO FRPSDUDELO HYDOXDW HYDOXDW vQ vQ

Simbol qc qc0 q1cp

Programat 7500 7600 -

Realizat 8200 8450 8380

costurile perioadei curente

costurile perioadei precedente Volumul efectiv DO SURGXF LHL

FRPSDUDELOH H[SULPDWH vQ FRVWXUL SUHY ]XWH

PDUI

4
A1$/,=$ 5(17$%,/,7
 $ERUG

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5HQWDELOLWDWHD SRDWH IL GHILQLW

GH D RE LQH SURILW SULQ XWLOL]DUHD IDFWRULORU GH SURGXF LH L D FDSLWDOXULORU

inGLIHUHQW GH SURYHQLHQ D DFHVWRUD Rentabilitatea este una din formele cele mai sintetice de exprimare a HILFLHQ HL vQWUHJLL DFWLYLW L HFRQRPLFR-financiare a ntreprinderii, respectiv a WXWXURU PLMORDFHORU GH SURGXF LH XWLOL]DWH L D IRU HL GH PXQF  GLQ toate
VWDGLLOH FLUFXLWXOXL HFRQRPLF DSURYL]LRQDUH SURGXF LH L YkQ]DUH (ILFLHQ D HFRQRPLF GHFkW UHQWDELOLWDWHD HFRQRPLF Q HILFLHQ D HVWH R FDWHJRULH HFRQRPLF VHQV PHQ LRQ P FHD PDL L JHQHUDO PDL FXSULQ] WRDUH DILUPD LH FDUH FDWHJRULH DFHVW XUP WRDUHD

UHSUH]LQW

FDUDFWHUL]HD]

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utilizarea (consum productiv, consum individual, vnzare) sau economisirea unor resurse (umane, materiale sau financiare) intrate sau neintrate n circuitul economic)1.
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ntreprinderii

P ULPLL UHODWLYH D UHQWDELOLW

       -.  /   102234#

0 55

aliza economico-

 
 
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   $ %&    (')  * +%& 
,   

4.2 Analiza profitului

YHGHUH VWUXFWXUDO L IDFWRULDO SH WRWDO vQWUHSULQGHUH L SH S

Profitul, sub diversele sale forme, poate fi analizat din punct de roduse.
D SURILWXOXL SURILWXOXL XUP UHWH VWDELOLUHD FRQWULEX LHL

 $QDOL]D VWUXFWXUDO $QDOL]D HYLGHQ VWUXFWXUDO D

GLIHULWHORU WLSXUL GH UH]XOWDWH OD PRGLILFDUHD WRWDO  SUHFXP L SXQHUHD vQ D VFKLPE ULORU LQWHUYHQLWH SH HOHPHQWH FRPSRQHQWH

AQDOL]D
QDWXU

VWUXFWXUDO

D UH]XOWDWXOXL EUXW DO H[HUFL LXOXL SURILW EUXW VDX IXQF LD GHVWLQD LD ORU vQ FDGUXO

SLHUGHUH VH SRDWH HIHFWXD SH ED]D JUXS ULL YHQLWXULORU L FKHOWXLHOLORU GXS VDX D JUXS ULL FKHOWXLHOLORU GXS

ntreprinderii. Analiza struFWXUDO

XUP WRDUHD VFKHP 

D UH]XOWDWXOXL EUXW DO H[HUFL LXOXL vQ IXQF LH GH QDWXUD ORU VH SRDWH HIHFWXD GXS

JUXSDUHD YHQLWXULORU L FKHOWXLHOLORU GXS

cheltuielile variabile

: ;  *    
-

Venituri din exploatare

Cheltuieli variabile de exploatare

678
  

9#
  
+

Cheltuieli fixe de exploatare

Venituri financiare Rezultatul brut al

 exerci  Rezultatul financiar

Cheltuieli financiare

+
Venituri extraordinare Rezultatul extraordinar

Cheltuieli extraordinare

)LJ  6FKHPD GH DQDOL]

VWUXFWXUDO

D UH]XOWDWXOXL EUXW

(modelul 1)

3HQWUX D VWDELOL FRQWULEX LD HOHPHQWHORU FRPSRQHQWH OD PRGLILFDUHD

rezultatului EUXW VH DSOLF

$FHVW HYLGHQ PRGHO GH

PHWRGD EDODQ LHU  DQDOL] VWUXFWXUDO D UH]XOWDWXOXL EUXW SXQH ID vQ GH L DQXPH GDF PDUMD EUXW

L XUP WRUXO DVSHFW HVHQ LDO

cheltuielile variabile permite acoperirea cheltuielilor fixe (n caz contrar volumul GH DFWLYLWDWH HVWH LQIHULRU SUDJXOXL GH UHQWDELOLWDWH L D XQRU
UH]XOWDWH QHJDWLYH SLHUGHUL GLQ DFWLYLW vQFkW SH WRWDO ILUP DFWLYLWDWHD V LOH ILQDQFLDUH L H[WUDRUGLQDUH DVWIHO VWUXFWXUDO D UH]XOWDWXO ILH UHQWDELO  GH DQDOL]

Cea de-D

GRXD PHWRG

ui brut al

H[HUFL LXOXL HVWH FXQRVFXW

FD PHWRGD FODVLILF ULL GXS

IXQF LD FKHOWXLHOLORU LPSXQ D IL

VDX D FRVWXOXL YkQ] ULORU

,QIRUPD LLOH QHFHVDUH DQDOL]HL VH

grupate astfel: 1. Cifra de afaceri

 &RVWXO YkQ] ULORU  5H]XOWDW RSHUD LRQDO PDUMD EUXW  

2)

4. Alte venituri din exploatare

 &RVWXUL GH GLVWULEX LH

6. Cheltuieli administrative 7. Alte cheltuieli de exploatare  5H]XOWDWXO H[SORDW ULL -5-6-7) 9. Venituri financiare 10. Cheltuieli financiare 11. Rezultatul financiar (9 10) 12. Venituri extraordinare 13. Cheltuieli extraordinare 14. Rezultatul extraordinar (12 13)
 5H]XOWDWXO EUXW DO H[HUFL LXOXL  $FHDVW $OHJHUHD VHFWRUXOXL ILHFDUH SUH]HQWDUH PHWRGHL RIHU GH XQHRUL QDWXU  vQWUH L GH PHWRGD QDWXUD  FHO FRVWXOXL YkQ] ULORU L LQIRUPD LL PDL UHOHYDQWH SHQWUX XWLOL]DWRUL GHFkW FODVLILFDUHD GXS

DQDOL] FkW DUH 

PHWRGD QDWXULL FKHOWXLHOLORU GHSLQGH DWkW GH IDFWRULL LVWRULFL L GH FHL DIHUHQ L HFRQRPLF GH UHVSHFWLY SUH]HQWDUH ,$6 FHD GH vQWUHSULQGHULL VROLFLW PDL R 'HRDUHFH vQWUH GH PHWRG vQ

avantaje pentru diferite tipuri de

RS LXQH ILGHO HOHPHQWHOH

vQWUHSULQGHUL FODVLILF UL SHUIRUPDQ SUH]HQWDUH YkQ] ULORU

6WDQGDUGXO IXQF LH

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FDUH

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cheltuielilor sunt utile la estimarea fluxurilor viitoare de numerar, se cere o

4.2.2 Analiza soldurilor intermediare ale gestiunii (S.I.G.) Prin solduri intermediare ale geVWLXQLL vQ HOHJHP SULQFLSDOLL indicatori economico-ILQDQFLDUL VWDELOL L SH ED]D GDWHORU GLQ &RQWXO GH SURILW
L 3LHUGHUH FX DMXWRUXO F URUD VH FDUDFWHUL]HD] PRGXO GH IRORVLUH D UHVXUVHORU PDWHULDOH ILQDQFLDUH L XPDQH DOH ILUPHL JHVWLXQLL HVWH GLIHUHQ D GLQWUH GRX YDORUL LL L

Un sold intermediar al
DO LL VH GHWHUPLQ HVHQ HVWH R DOW DVWIHO

3ULQ VF GHUL VXFFHVLYH VH RE LQ LQGLFDWRUL GH FDUDFWHUL]DUH D UHQWDELOLW vQ VLWXD LD 6,* vQWU

JHVWLXQLL ILUPHL XQLL VH UHJ VHVF FD DWDUH vQ &RQWXO GH 3URILW L 3LHUGHUH LDU

SoldurilH LQWHUPHGLDUH DOH JHVWLXQLL VH SUH]LQW

SUH]LQW

-un tablou care, n

GH OLVW VH

PRGDOLWDWH GH SUH]HQWDUH D FRQWXOXL GH UH]XOWDWH

7DEORXO VROGXULORU LQWHUPHGLDUH DOH JHVWLXQLL VXE IRUP

Nr. crt. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20.

Indicatori
9kQ] UL GH P UIXUL FW  &RVWXO P UIXULORU YkQGXWH FW  0DUMD FRPHUFLDO 3URGXF LD YkQGXW 

Tabelul 4.1 ExeUFL LXO ILQDQFLDU precedent curent

-2)

FW  OD 

9DULD LD SURGXF LHL VWRFDWH FW  9HQLWXUL GLQ SURGXF LD GH LPRELOL] UL FW   3URGXF LD H[HUFL LXOXL  &RQVXPXULOH H[HUFL LXOXL SURYHQLQG GH OD WHU L JU  PDL SX LQ FW  JU  JU  9DORDUHD DG XJDW 

) -8)
WD[H L Y UV PLQWH DVLPLODWH

6XEYHQ LL GH H[SORDWDUH &KHOWXLHOL FX LPSR]LWH

(gr. 63) Cheltuieli cu personalul (gr. 64)

([FHGHQWXO GHILFLWXO EUXW DO H[SORDW ULL -11-12) Alte venituri din exploatare inclusiv cele din provizioane Alte cheltuieli de exploatare Cheltuieli de exploatarH SULYLQG DPRUWL]DUHD L provizioanele 5H]XOWDWXO H[SORDW ULL -15-16) Venituri financiare Cheltuieli financiare 5H]XOWDWXO FXUHQW DO H[HUFL LXOXL 

-19)

Nr. crt. 21. 22. 23. 24. 25. 26.

Indicatori Venituri extraordinare Cheltuieli extraordinare Re]XOWDWXO H[WUDRUGLQDU DO H[HUFL Impozit pe profit
5H]XOWDWXO H[HUFL LXOXL SURILW QHW VDX SLHUGHUH  LXOXL 

ExeUFL LXO ILQDQFLDU precedent curent

-22)

5H]XOWDWXO EUXW DO H[HUFL LXOXL 

-25)

Analiza soldurilor intermediare de gestiune, se poate realiza pe baza:

PRGLILF ULORU DEVROXWH LQGLFLORU FX ED] ULWPXULORU FX ED] IL[  vQ ODQ IL[  vQ ODQ L PHGLL L PHGLL

metodei ratelor;
PHWRGHL VXEVWLWX LLORU vQ ODQ HWF

Referitor la indicatorii din tabloul soldurilor intermediare ale gestiunii, care nu au fost pUH]HQWD L L DQDOL]D L DQWHULRU VH LPSXQ XQHOH
SUHFL] UL L DQXPH

0DUMD

FRPHUFLDO

0F

HVWH

XQ

LQGLFDWRU

XWLOL]DW

GH

F WUH

ntreprinderile care vnd bunurile n starea n care au fost

FXPS UDWH ILLQG VSHFLILF DFWLYLW $QDOL]D IDFWRULDO XUP WRUXOXL PRGHO LL GH FRPHU  FX DMXWRUXO D PDUMHL FRPHUFLDOH SRDWH IL HIHFWXDW

DC 100 gici C= 100 Mc =

n care: D = UHSUH]LQW

FLIUD

GH

DIDFHUL

GLQ

YkQ] UL

GH

P UIXUL

VDX

YDORDUHD

GHVIDFHULORU GH P UIXUL

C = rata medie a marjei comerciale sau cota medie de adaos comercial; gi = VWUXFWXUD YkQ] ULORU SH JUXSH GH P UIXUL VDX VHFWRDUH GH DFWLYLWDWH ci = FRWD GH DGDRV FRPHUFLDO SH JUXSH GH P UIXUL VDX VHFWRDUH GH DFWLYLWDWH

6LVWHPXO GH IDFWRUL VH SUH]LQW

DVWI

el:

D Mc gi
C

ci
([FHGHQWXOGHILFLWXO EUXW DO H[SORDW SRWHQ LDO GH GLVSRQLELOLW DIHUHQWH DFHVWHL DFWLYLW P UIXUL SURGXF LD L VXQW IRUPDWH GLQ GH H[SORDWDUH YkQ] ULOH vQ WLPS GH FH L VXEYHQ LLOH ULL (%( UHSUH]LQW IOX[XO

L GHJDMDW GH FLFOXO GH H[SORDWDUH L VH GHWHUPLQ

deducnd cheltuielile monetare din exploatare din veniturile monetare

9HQLWXULOH PRQHWDUH GLQ H[SORDWDUH YkQGXW

cheltuielile monetare din exploatare cuprind acele categorii de cheltuieli FDUH SUHVXSXQ SO L LPHGLDWH VDX OD WHUPHQ (consumurile provenind de la
WHU L FKHOWXLHOL FX LPSR]LWH WD[H L DO Y UV PLQWH DVLPLODWH L FKHOWXLHOL FX GH DQDOL] UH]XOW

personalul).
([FHGHQWXO EUXW SHQWUX HIHFWXDUHD GH H[SORDW ULL HVWH XWLOL]DW vQ SURFHVXO vQ GLQDPLF L vQ VSD LX FX DFWLYLWDWHD vQ DFHODL GRPHQLX D DO H[SORDW ULL SUH]LQW GH DYDQWDMXO vQGDWRUDUH F L QX HVWH FRPSDUD LL

atele

ILUPHORU FDUH vL GHVI RDU UH]XOWDWHORU H[FHGHQWXO GH

&RPSDUDWLY FX FHLODO L LQGLFDWRUL XWLOL]D L vQ SURFHVXO GH DQDOL] EUXW LQIOXHQ DW GH VLVWHPXO GH DPRUWL]DUH SUDFWLF SURYL]LRDQHORU SROLWLFD ILQDQFLDU

at, de politica de construire a

ILVFDO

JUDGXO

VLVWHPXO GH LPSR]LWDUH D SURILWXOXL SUHFXP L GH SROLWLFD GH GLVWULEXLUH D

dividendelor.
$QDOL]D H[FHGHQWXOXL EUXW DO H[SORDW ULL SRDWH IL DSURIXQGDW XWLOL]kQG XUP WRDUHOH UDWH GH VWUXFWXU UHSDUWL LH

a)

Ra =

Cheltuieli cu amortizarea 100 E.B.E Cheltuieli cu provizioanele aferente exploatarii 100 E.B.E.

b)

Rp =

<>= ?A@ B C
D E FGB CHI JK@ L MN
OFP @ BMD OQ
L DF P R LP E M@ B S4H4T&U
@ P CR LTVB ONOWX@ B H1Y ZZ[H4\
M=][^=

c) d) e)

Cheltuieli cu dobanzile 100 E.B.E. Impozit pe profit 100 Ri = E.B.E. Dividende Rd = 100 E.B.E Rcf =

n care: Ra = UHSUH]LQW UDWD DPRUWL] ULL Rp = rata provizioanelor; Rcf = rata cheltuielilor financiare cu dobnzile; Ri = rata impozitului pe profit; Rd = rata dividendelor.

 $QDOL]D IDFWRULDO

D SURILWXOXL OD QLYHO GH vQWUHSULQGHUH L vQ IXQF

$QDOL]D SURILWXOXL VH LPSXQH D IL HIHFWXDW GLUHF L L LQGLUHF L FDUH DF LRQHD] OD QLYHOXO FRQVLGHUDUH GLYHUVLWDWHD GH IRUPH VXE FDUH VH SUH]LQW vQWUHSULQGHUH YHGHUH DQDOL]D IDFWRULDO FDWHJRULL GH D DFHVWXLD UH]XOWDWH XUP WRDUHOH

ie de factorii
/XkQG vQ DYkQG vQ

vQWUHSULQGHULL

SURILWXO QHW OD QLYHO GH EUXW DO H[HUFL LXOXL

SRDWH IL DSURIXQGDW UH]XOWDWXO

UH]XOWDWXO H[SORDW ULL L UH]XOWDWXO DIHUHQW FLIUHL GH DIDFHUL

 $QDOL]D IDFWRULDO

D UH]XOWDWXOXL EUXW DO H[HUFL LXOXL FD GLIHUHQ vQWUH

5H]XOWDWXO EUXW DO H[HUFL LXOXL 5E VH GHWHUPLQ YHQLWXULOH WRWDOH L FKHOWXLHOLOH WRWDOH 0RGXO GH DQDOL] IDFWRULDO HVWH

Ct Rb = Vt 1 = Vt prb, Vt

unde :

prb =

gi prbi
100

n care: prb = UHSUH]LQW UH]XOWDWXO SURILWXO PHGLX EUXW OD  OHX YHQLWXUL WRWDOH gi = structura veniturilor totale pe FDWHJRULL GH DFWLYLW L prbi = SURILWXO EUXW OD  OHX YHQLWXUL SH FDWHJRULL GH DFWLYLW L

6LVWHPXO GH IDFWRUL FDUH DF LRQHD]

DVXSUD SURILWXOXL EUXW VH SUH]LQW

astfel: Vt Prb gi

prb
prbi
0 VXUDUHD LQIOXHQ HORU IDFWRULORU VH UHDOL]HD] FX DMXWRUXO PHWRGHL

sXEVWLWXLULORU vQ ODQ 
 $QDOL]D IDFWRULDO D UH]XOWDWXOXL H[SORDW ULL QLYHOXO DFWLYLW vQWUH LL GH GLQ

5H]XOWDWXO H[SORDW ULL 5H VH FLUFXPVFULH OD ED] D vQWUHSULQGHULL L FDUDFWHUL]HD] vQ P ULPH GLIHUHQ

DEVROXW

UHQWDELOLWDWHD YHQLWXULOH

ciclului de exploatare. El se dHWHUPLQ Re = Ve Ce

$QDOL]D IDFWRULDO XUP WRDUHORU PRGHOH

FD

H[SORDWDUH 9H L FKHOWXLHOLOH DIHUHQWH DFHVWRUD &H DVWIHO D UH]XOWDWXOXL H[SORDW ULL VH SRDWH HIHFWXD SH ED]D

a)
Ce Re = Ve1 = Ve pre, Ve unde pre =

gi prei ,
100

iar

prei = 1

cei vei

unde: gi = UHSUH]LQW VWUXFWXUD YHQLWXULORU GLQ H[SORDWDUH SH WLSXUL GH DFWLYLW L prei = profitul sau pierderea la 1 leu venituri din exploatare pe tipuri de activitate; vei = VXPD YHQLWXULORU GLQ H[SORDWDUH SH WLSXUL GH DFWLYLW L cei = suma cheltuieliORU GH H[SORDWDUH SH WLSXUL GH DFWLYLW L b) Re = Ae
Ve Re Ae Ve

8WLOL]kQG SULPXO PRGHO GH DQDOL]  VLVWHPXO GH IDFWRUL VH SUH]LQW

astfel:

Ns
T
t

Ve
wh

(Ve )

Re gi
pre

prei unde: gi = UHSUH]LQW VWUXFWXUD YHQLWXULORU GLQ H[SORDWDUH SH WLSXUL GH DFWLYLW i; prei = profitul sau pierderea la 1 leu venituri din exploatare pe tipuri de
DFWLYLW L

Vei = cei =

VXPD YHQLWXULORU GLQ H[SORDWDUH SH WLSXUL GH DFWLYLW VXPD FKHOWXLHOLORU GH H[SORDWDUH SH WLSXUL GH DFWLYLW $FHVW PRGHO GH DQDOL] DUH XQ F

L L

aracter general valabil pentru toate

Tabelul 4.2 mil. lei

tipurile de ntreprinderi

Nr. crt. 1. 2. 3. 4. 5. 6.

Indicatori Venituri din exploatare Cheltuieli din exploatare

1XP UXO PHGLX GH VDODULD L SH 5H]XOWDWXO H[SORDW ULL 

Simbol Ve Che rs.)

RUH

Programat 75200 69184 800 6016 1504000 1880

Realizat 84360 76345,8 760 8014,2 1406000 1850

Ns
Re T

-2)

)RQGXO WRWDO GH WLPS GH PXQF

Timpul mediu pe un salariat (ore)

Nr. crt. 7. 8. 9.

Indicatori
3URGXFWLYLWDWHD PHGLH RUDU  VWDELOLW SH

Simbol

Programat 50 0,08 x
UHVSHFWLY DVWIHO

Realizat 60 0,095 0,082

baza veniturilor din exploatare Profitul mediu la 1 leu venituri din exploatare (lei) Profitul mediu recalculat la 1 leu venituri din exploatare (lei)
0HWRGRORJLD GH DQDOL] IDFWRULDO

wh

(Ve )

pre
r

pre
L

FXDQWLILFDUHD

LQIOXHQ HORU IDFWRULORU SRWULYLW PRGHOXOXL D VH SUH]LQW

Re = Re1 Re0 = +1998,2 mil. lei

GLQ FDUH GDWRULW 

1 LQIOXHQ HL PRGLILF ULL YHQLWXULORU GLQ H[SORDWDUH Ve = (Ve1 Ve 0 )pre 0 = +732,8 mil. lei
GLQ FDUH GDWRULW   LQIOXHQ HL PRGLILF ULL IRQGXOXL WRWDO GH WLPS GH PXQF 

T = (T1 T0 )wh 0 pre 0 = 392 mil. lei

GLQ FDUH GDWRULW   LQIOXHQ HL PRGLILF ULL QXP UXOXL PHGLX GH VDODULD L

Ns = Ns1 Ns 0 t 0 wh 0 pre 0 = 300,8 mil. lei

 LQIOXHQ HL PRGLILF ULL WLPSXOXL PHGLX SH XQ VDODULDW

t = Ns1 t 1 t 0 wh 0 pre 0 = 91,2 mil. lei

 LQIOXHQ HL SURGXFWLYLW

wh

(Ve )

= T1 wh 1 wh 0 pre 0 = +1124,8 mil. lei

OHX YHQLWXUL GLQ

LL PHGLL RUDUH

2 LQIOXHQ D PRGLILF ULL SURILWXOXL PHGLX OD  exploatare: pre = Ve1 pre1 pre 0 = +1265,4 mil. lei din care, datorit 

 DFWLYLW L

LQIOXHQ HL

VWUXFWXULL

YHQLWXULORU

GLQ

H[SORDWDUH

SH

WLSXUL

GH

g i = Ve1 r pre1 pre 0 = +168,72 mil. lei

r

pre =

g i1pre i0 100

 LQIOXHQ HL SURILWXOXL OD  OHX YHQLWXUL GLQ H[SORDWDUH SH WLSXUL GH DFWLYLW L

Se rePDUF

pre i = Ve1 pre1 r pre = +1096,68 mil. lei

 GDWRUDW vQ SURSRU LH GH 

GHS LUHD SURILWXOXL GH H[SORDWDUH SUHY ]XW FX  YHQLWXULORU GLQ PDMRU ULL PDUMHL PHGLL GH SURILW EUXW OD  OHX YHQLWXUL I

PLO OHL UHVSHFWLY FX  H[SORDWDUH L GH 

din exploatare.
$QDOL]kQG LQIOXHQ HOH

actorilor care au generat modificarea

VLWXD LH D D IRU HL

UH]XOWDWXOXL H[SORDW ULL FRQVWDW P XUP WRDUHOH FUHWHUHD YHQLWXULORU GLQ H[SORDWDUH FX  PLO OHL D FRQGXV OD PDMRUDUHD PDVHL SURILWXOXL FX  PLO OHL $FHDVW IRVW GHWHUPLQDW LQFRPSOHW vQ H[FOXVLYLWDWH GH XWLOL]DUHD LQWHQVLY GH PXQF  GLQ SXQFW GH YHGHUH H[WHQVLY FRQVWDWkQGX D SRWHQ LDOXOXL XPDQ LL YHQLWXULORU GLQ H[SORDWDUH VSRULUHD  UH]XOWDWXOXL LQIOXHQ V

-se folosirea

marja medie de profit brut la 1 leu venituri din exploatare a

FUHVFXW FX  OHL UDWD UHQWDELOLW

s-D

PDMRUDW F

FX GLQ



GHWHUPLQDW vQUHJLVWUDW

H[SORDW ULL FX UH]XOW

 PLO

OHL

$SURIXQGkQG DFHDVW

PRGLILFDUHD

-a datorat
FUHWHULL

PRGLILF ULL VWUXFWXULL YHQLWXULORU GLQ H[SORDWDUH L 

profitulXL EUXW OD  OHX YHQLWXUL SH WLSXUL GH DFWLYLW L modificarea structurii veniturilor din exploatare n favoarea WLSXULORU GH DFWLYLW L OD FDUH V-D SUHY ]XW XQ SURILW EUXW OD  OHX venituri mai mare dect profitul brut mediu programat pe vQWUHSULQGHUH L vQ GHIDYRDUHD DFWLYLW LORU OD FDUH V-a programat
XQ SURILW EUXW OD  OHX YHQLWXUL PDL PLF GHFkW PHGLD SUHY ]XW  D DYXW FD HIHFW EUXW OD FUHWHUHD  OHX PDVHL SURILWXOXL SH OHL WLSXUL GLQ GH H[SORDWDUH L D D FX

168,72 mil. lei;

SURILWXO YHQLWXUL PLO DFWLYLW VLWXD LH DYXW IRVW WHQGLQ D GH FUHWHUH L D FRQGXV OD PDMRUDUHD PDVHL SURILWXOXL GLQ H[SORDWDUH GHWHUPLQDW ID FD]XO FX  $FHDVW GH FUHWHUHD PDL UDSLG LORU FDUH GH LQ D YHQLWXULORU GLQ H[SORDWDUH PDMRULWDU vQ FDGUXO

GH FHD vQUHJLVWUDW DFWLYLW

OD QLYHOXO FKHOWXLHOLORU GH H[SORDWDUH vQ SRQGHUHD

veniturilor din exploatare (Ice1 < Ivei), respectiv de sporirea

HILFLHQ HL UHVXUVHORU FRQVXPDWH GH vQWUHSULQGHUH

&RQIRUP XUP WRUXO

PRGHOXOXL

GH

DQDOL]

VLVWHPXO

GH

IDFWRUL

HVWH

Ae

Re

Ve Ae

gi
Re Ve

prei
9DORDUHD DFWLYHORU GH H[SORDWDUH UHIOHFW YDORDUHD DFWLYHORU LPRELOL]DWH L D DFWLYHORU FLUFXODQWH DIHUHQWH FLFOXOXL GH H[SORDWDUH 'HFL P ULPHD DFWLYHORU GH H[SORDWDUH GHWHUPLQ D YHQLWXULORU GLQ H[SORDWDUH L D P ULPHD SURGXF LHL H[HUFL LXOXL

DFWLYH GH H[SORDWDUH L UHIOHFW

profitului din exploatare. Ve Indicatorul , UHSUH]LQW YHQLWXULOH PHGLL GLQ H[SORDWDUH Ae

LUHD FDOLW

OD  OHX

HILFLHQ D DFWLYHORU GH H[SORDWDUH &UHWHUHD GH URWD LH D LL SURGXVHORU HWF

valorii acestui indicator se poate realiza prin accelerarea viWH]HL

DFWLYHORU FLUFXODQWH GH H[SORDWDUH vPEXQ W

4.2.3.3 Analiza profitului aferent cifrei de afaceri

Q FD]XO ILUPHORU FX DFWLYLWDWH GH SURGXF LH SHQWUX DQDOL]D IDFWRULDO D

profitului aferent cifrei de aIDFHUL VH UHFRPDQG a) Pr = q v p q v c

XUP WRDUHOH PRGHOH

q vc b) P r = q v p 1 q p = CA pr v Mf CA Pr c) Pr = T T Mf CA

$QDOL]D IDFWRULDO

D SURILWXOXL DIHUHQW FLIUHL GH DIDFHUL VH HIHFWXHD]

utiliznd datele din tabelul de mai jos:

Tabelul 4.3 - mil. lei -

Nr. crt. 1. 2. 3. 4. 5. 6.
&LIUD GH

Indicatori
DIDFHUL HYDOXDW vQ SUH XUL GH

Simbol qvp qvc qv1p0 qv1c0 Pr

Programat 42500 39100 x x 3400 0,08

Realizat 51000 47379 46325 45254 3621 0,071

vnzare exclusiv T.V.A. Cheltuieli totale aferente cifrei de afaceri

9ROXPXO HIHFWLY DO SURGXF LHL ]XWH YkQGXWH YkQGXWH

evaluat n SUH XUL PHGLL SUHY

9ROXPXO HIHFWLY DO HYDOXDW SH ED]

SURGXF LHL

GH FRVWXUL SUHY ]XWH

Suma profitului aferent cifrei de afaceri

3URILWXO PHGLX OD  OHX FLIU GH DIDFHUL OHL

pr

3RWULYLW PRGHOXOXL GH DQDOL] DVXSUD SURILWXOXL HVWH XUP WRUXO

D VLVWHPXO GH IDFWRUL FDUH DF LRQHD]

qv g Pr c p n care: qv = UHSUH]LQW YROXPXO IL]LF DO SURGXF LHL YkQGXWH g = VWUXFWXUD SURGXF LHL YkQGXWH SH SURGXVH c = costurile complete unitare; p = SUH XULOH PHGLL GH YkQ]DUH XQLWDUH H[FOXVLY 79$
$QDOL]D IDFWRULDO D SURILWXOXL DIHUHQW FLIUHL GH DIDFHUL VH UHDOL]HD]

astfel:

PR = Pr1 Pr0 = 3621 3400 = + 221 mil. lei

GLQ FDUH GDWRULW 

1 LQIOXHQ HL PRGLILF ULL YROXPXOXL IL]LF DO SURGXF LHL YkQGXWH qv = Pr0Iqv Pr0 = 3400 109% - 3400 = + 306 mil. lei
Iq v =

q v1p 0 100 = 46325 100 = 109 % 42500 q v0p0

2 LQIOXHQ HL PRGLILF ULL VWUXFWXULL SURGXF LHL YkQGXWH SH SURGXVH g = (qv1p0 - qv1c0) Pr0Iqv = (46325 45254) 3400 109% = - 2635 mil. lei 3 LQIOXHQ HL PRGLILF ULL FRPSOHWH XQLWDUH c = (qv1p1 - qv1c1) (qv1p0 - qv1c0) = -(qv1c1 - qv1c0) = - (47379 45254) = -2125 mii lei 4 LQIOXHQ HL PRGLILF ULL SUH XULORU PHGLL GH YkQ]DUH XQLWDUH H[FOXVLY T.V.A.: p = (qv1p1 - qv1c1) - (qv1p0 - qv1c1) = qv1p1 - qv1p0 = 51000 - 46325 = + 4675 mil. lei
/D ILQHOH SHULRDGHL DQDOL]DWH FRPSDUDWLY FX QLYHOXO SUHY ]XW vQ EXJHWXO GH YHQLWXUL L FKHOWXLHOL V D vQUHJLVWUDW R FUHWHUH D SURILWXOXL DIHUHQW

cifrei de afaFHUL

FX  PLO OHL UHVSHFWLY FX 

 &UHWHUHD SURILWXOXL FRQVWLWXL L SH

DIHUHQW FLIUHL GH DIDFHUL LQIOXHQ HD]

SR]LWLY UH]XOWDWXO H[SORDW ULL UH]XOWDWXO

EUXW L UH]XOWDWXO QHW DO H[HUFL LXOXL L LQGLFDWRULL GH HILFLHQ

baza acestora. Analiznd inflXHQ HOH IDFWRULORU VH FRQVWDW FUHWHUHD YROXPXOXL IL]LF DO SURGXF LHL
HIHFW VSRULUHD SURILWXOXL FX  PLO SURGXF LHL YkQGXWH UHOHY IDSWXO vQWUHSULQGHULL H[LVW

XUP WRDUHOH YkQGXWH FX  OHL F ,QIOXHQ D SHQWUX D DYXW FD YROXPXOXL SURGXF LD

FHUHUH UHVSHFWLY SLD D QX HVWH VDWXUDW 

VWUXFWXUD FLIUHL GH DIDFHUL D LQIOXHQ DW SURILWXO vQ VHQVXO VF GHULL FX  PLO OHL VLWXD LH FH VH H[SOLF SULQ GLPLQXDUHD SRQGHULL LL SH

produselor vndute la care s-DX SUHY ]XW UDWH DOH UHQWDELOLW comerciale mai mari decW UDWD PHGLH FRPHUFLDO SUHY ]XW
WRWDO vQWUHSULQGHUH L FUHWHUHD SRQGHULL SURGXVHORU OD FDUH V SURJUDPDW UDWH GH UHQWDELOLWDWH SUHY ]XWH PDL PLFL SH vQWUHSULQGHUH GHFkW PHGLH FRPHUFLDO SURJUDPDW

-au

UDWD

costurile complete unitare au exercitat o infOXHQ

VLWXD LH GHWHUPLQDW SRQGHUHD SULQFLSDO DSUHFLD] V

QHJDWLY

DVXSUD SURILWXOXL GHWHUPLQkQG VF GHUHD DFHVWXLD FX  PLO OHL GH GHS LUHD FRVWXULORU SURGXVHORU FH GH LQ vQ WRWDOXO YkQ] ULORU ,QIOXHQ D FRVWXULORU VH FX FRQGL LD FD HIRUWXO VXSOLPHQWDU I FXW

FD MXVWLILFDW

IL IRVW UHFXSHUDW SH VHDPD SUH XULORU GH YkQ]DUH FD XUPDUH D

RE LQHULL XQRU SURGXVH VXSHULRDUH GLQ SXQFW GH YHGHUH FDOLWDWLY

SUH XULOH GH YkQ]DUH DX IRVW PDL PDUL ID VRUWLPHQWHOH FDUH GH LQ SRQGHUHD PDMRULWDU DX GHWHUPLQDW FUHWHUHD PDVHL

GH QLYHOXO SUHY ]XW OD vQ FLIUD GH DIDFHUL L FX  PLO OHL

SURILWXOXL

$FHDVW

VLWXD LH SRDWH IL GHWHUPLQDW

GH vPEXQ W

LUHD FDOLW

LL

SURGXVHORU FD] vQ FDUH DSUHFLHUHD HVWH SR]LWLY LQIOD LH HWF 6LVWHPXO GH IDFWRUL FDUH DF LRQHD] DVXSUD

LVDX FD XUPDUH GHFkW FHUHUHD SRWULYLW

D DF LXQLL IDFWRULORU FRQMXQFWXUDOL RIHUWD PDL PLF

SURILWXOXL

PRGHOXOXL E HVWH XUP WRUXO

qv CA p Pr g
pr
0HWRGRORJLD GH DQDOL] DFHVWRUD VH SUH]LQW DVWIH

p c
IDFWRULDO D SURILWXOXL L FXDQWLILFDUHD DF LXQLL

l: Pr = Pr1 Pr0 = +221 mil. lei

CA = (CA1 CA 0 )pr 0 = (51000 42500 ) 0,08 = +680 mil. lei

GLQ FDUH GDWRULW   LQIOXHQ HL PRGLILF ULL FLIUHL GH DIDFHUL

GLQ FDUH GDWRULW   LQIOXHQ HL PRGLILF ULL YROXPXOXL IL]LF DO SURGXF LHL YkQGXWH

q v =

 LQIOXHQ HL PRGLILF ULL SUH XULORU PHGLL GH YkQ]DUH XQLWDUH

( q v1p0 q v0p0 )pr 0 = (46325 42500)0,08 = +306 mil. lei

p = ( q v1p1 q v1p 0 )pr 0 = (51000 46325)0,08 = +374 mil. lei

 LQIOXHQ HL PRGLILF ULL SURILWXOXL PHGLX OD  OHX FLIUHL GH DIDFHUL

pr = CA 1 pr 1 pr 0 = 51000(0,071 0,08) = 459 mil. lei

q v1c 0 q v 0 c 0 1 = g = CA1 1 q p q p v1 0 v 0 0 = CA1 pr pr 0 = 51000(0,0231 0,08) = 2901,9 mil. lei

GLQ FDUH GDWRULW   LQIOXHQ HL PRGLILF ULL VWUXFWXULL SURGXF LHL YkQGXWH SH S

roduse:

 LQIOXHQ HL PRGLILF ULL SUH XULORU PHGLL GH YkQ]DUH XQLWDUH

q v1c 0 q v1c 0 1 = p = CA1 1 q p q p v1 1 v1 0 = CA1 pr pr = 51000(0,1127 0,0231) = +4569,6 mil. lei

 LQIOXHQ HL PRGLILF ULL FRVWXULORU XQLWDUH

c = CA1 1

q c q v1c1 1 v1 0 = q v1p1 q v1p1

= CA1 pr1 pr = 51000(0,071 0,1127 ) = 2126,7 mil. lei

&UHWHUHD SURILWXOXL DIHUHQW V

-a datorat n exclusivitate sporirii cifrei

GH QLYHOXO SUHY ]XW FX  PLO OHL F

GH DIDFHUL PDUMD PHGLH GH SURILW OD  OHX YkQ] UL VF ]kQG D GHWHUPLQDW

diminuarea masei profitului.

&LIUD GH DIDFHUL D FUHVFXW ID

contribuind la sporirea profitului cu 680 mil. lei. Aprofundnd influeQ D

FLIUHL GH DIDFHUL SULQ LQWHUPHGLXO FHORU GRL IDFWRUL GH JUDGXO ,, VH FRQVWDW YROXPXO IL]LF DO SURGXF LHL YkQGXWH D LQIOXHQ DW SR]LWLY vQ VHQVXO FUHWHULL SURILWXOXL FX  PLO OHL vQ WLPS FH PDMRUDUHD SUH XULORU PHGLL GH YkQ]DUH

unitare a avut ca efect sporirea profitului cu 374 mil. lei.

6F GHUHD VHPQLILF R SURILWXOXL PHGLX D UDWHL OD  OHX YkQ] UL FX  OHL LL FRPHUFLDOH OD FHHD FH GH GLPLQXDUH UHQWDELOLW QLYHO vQWUHSULQGHUH FX   D DYXW FD UH]XOWDW PLFRUDUHD SURILWXOXL DIHUHQW FLIUH

GH DIDFHUL FX  PLO OHL ,QIOXHQ HOH IDFWRULORU LQGLUHF L FDUH DF LRQHD] DVXSUD SURILWXOXL SULQ LQWHUPHGLXO SURILWXOXL PHGLX OD  OHX FLIU VWUXFWXU  SUH XUL FRVWXUL VH LQWHUSUHWHD] VLPLODU PRG GH DIDFHUL

elului mai sus

PRGHOXOXL D GRX GLUHF LL UXODMXOXL

prezentat (modelul de anaOL]

GHRDUHFH SULQFLSDOH SXQH GH vQ HYLGHQ D  FUHWHUH

D VXSHULRDU  FHOH SULQ SULQ IDFWRULL L GH JUDGXO

0RGHOXO E DUH R YDORDUH LQIRUPD LRQDO SURILWXOXL DQXPH

VSRULUHD

YkQ] ULORU L PRGLILFDUHD PDUMHL PHGLL GH SURILW OD  OHX YkQ] UL

3RWULYLW PRGHOXOXL GH DQDOL]

F VLVWHPXO GH IDFWRUL HVWH XUP WRUXO

Mf T
CA
P

Mf
g
P sau pr CA

p c

n care: T = UHSUH]LQW

IRQGXO WRWDO GH WLPS GH PXQF 

Mf = JUDGXO GH vQ]HVWUDUH WHKQLF D PXQFLL T CA = HILFLHQ D XWLOL] ULL PLMORDFHORU IL[H H[SULPDW Mf n medie la 1 leu mijloace fixe.
$FHVW PRGHO SHUPLWH SXQHUHD vQ HYLGHQ

SULQ YkQ] ULOH FH UHYLQ

vQ SOXV ID

GH PRGHOHOH

SUHFHGHQWH D LQIOXHQ HORU XWLOL] ULL H[WHQVLYH D IDFWRUXOXL XPDQ J vQ]HVWUDUH D IRU HL GH PXQF

radului de

L HILFLHQ HL IRORVLULL PLMORDFHORU IL[H DVXSUD

masei profitului.

 $QDOL]D IDFWRULDO

D SURILWXOXL SH SURGXV

Aprofundarea analizei profitului total al ntreprinderii presupune studierea profitului principalHORU SURGXVH L VWDELOLUHD LQIOXHQ HORU IDFWRULORU
GLUHF L L LQGLUHF L FDUH DF LRQHD] DVXSUD DFHVWRUD

Analiza profitului pe produs (Prp) se poate realiza pe baza modelului: Prp = qv(p - c)

c = cm + csd + ci cm = cs j p j
csd = t sh Ci ci = q

n care: cm = UHSUH]LQW FKHOWXLHOLOH FX PDWHULLOH SULPH L PDWHULDOHOH GLUHFWH SH unitatea de produs; csd = FKHOWXLHOLOH FX PDQRSHUD GLUHFW SH XQLWDWHD GH SURGXV ci = cheltuielile indirecte pe unitatea de produs; csj = FRQVXPXO VSHFLILF GLQ UHVXUVD PDWHULDO M pj = SUH XO GH DSURYL]LRQDUH DO UHVXUVHL M t = WLPSXO GH PXQF SH XQLWDWHD GH SURGXV sh = salariul mediu oUDU LQFOXVLY FRQWULEX LLOH SHQWUX DVLJXU UL L SURWHF LH
VRFLDO 

Ci = suma cheltuielilor indirecte; q = YROXPXO IL]LF DO SURGXF LHL RE LQXWH

6LVWHPXO GH IDFWRUL FDUH DF LRQHD] SURGXV VH SUH]LQW  DVWIHO DVXSUD PRGLILF ULL SURILWXOXL SH

csj qv Prp c

cm csd

pj t
sh

p
0HWRGRORJLD GH DQDOL]

ci
D SURILWXOXL SH SURGXV SUHVXSXQH FXP XUPHD] 

FXDQWLILFDUHD LQIOXHQ HORU IDFWRULORU PDL VXV SUH]HQWD L GXS

1. qv = (qv1 qv0) (p0 c0)

2. c = -qv1 (c1 c0) din care: 2.1. cm = q v1 (cm 1 cm 0 ) din care: 2.1.1. csj = -qv1 (csj1pj0 - csj0pj0) 2.1.2. p j = q v1 cs j1 p j1 cs j1 p j0 2.2. csd = q v1 csd 1 csd 0 din care: 2.2.1. t = q v1 (t 1 t 0 )sh 0 2.2.2. sh = q v1t 1 sh 1 sh 0 2.3. ci = q v1 ci1 ci 0 3. p = qv1 (p1 p0)

4.3 Analiza ratelor de rentabilitate

5DWD GH UHQWDELOLWDWH HVWH XQ UDSRUW vQWUH R IRUP SURILWXOXL L DFWLYH VDX FDSLWDOXUL SURSULL SHUPDQHQWH GH H[SULPDUH D VDX XQ IOX[ GH

activitate (cifra de afaceri, resurse consumate etc.). Diferitele forme de exprimare ale ratelor de rentabilitate au valori
LQIRUPD LRQDOH YDULDWH L RJOLQGHVF PXOWLSOHOH ODWXUL DOH DFWLYLW LL

economico-financiare a firmei.
3ULQFLSDOHOH UDWH RSHUD LRQDOH vQ DQDOL]D ILQDQFLDU VXQW UDWD UHQWDELOLW UDWD UHQWDELOLW LL FRPHUFLDOH UDWD UHQWDELOLW LL HFRQRPLFH L UDWD UHQWDELOLW LL ILQDQFLDUH D vQWUHSULQGHULL LL UHVXUVHORU FRQ

sumate,

 $QDOL]D UDWHL UHQWDELOLW 5DWD UHQWDELOLW

LL FRPHUFLDOH 5

LL FRPHUFLDOH H[SULP

FRUHOD LD GLQWUH SURILWXO WRWDO

DIHUHQW YkQ] ULORU L FLIUD GH DIDFHUL GkQG H[SUHVLH SR

liticii comerciale a

ntreprinderii.

0RGHOHOH XUP WRDUHOH

XWLOL]DWH

vQ

DQDOL]D

IDFWRULDO

DOH

DFHVWHL

UDWH

VXQW

a) Rc = Pr 100 = qv p b) R c = n care: gi UHSUH]LQW

c g i ric , r c = 1 i 100 100

i

q c qv p qv c 100, sau R c = 1 v 100 q p qv p v

pi

VWUXFWXUD SURGXF LHL YkQGXWH SH SURGXVH LL FRPHUFLDOH SH SURGXVH RUGLQHD vQ FDUH IDFWRULL DF LRQHD] DVXSUD

ric - UDWD

UHQWDELOLW

3RWULYLW

PRGHOXOXL D

UDWHL UHQWDELOLW

LL FRPHUFLDOH HVWH XUP WRDUHD VWUXFWXUD SURGXF LHL YkQGXWH

SH SURGXVH SUH XULOH PHGLL GH YkQ]DUH XQLWDUH L FRVWXULO

e unitare.

0HWRGRORJLD GH FXDQWLILFDUH D LQIOXHQ HORU IDFWRULORU HVWH XUP WRDUHD

GLQ FDUH GDWRULW 

c R c = R 1 Rc 0

 LQIOXHQ HL PRGLILF ULL VWUXFWXULL SURGXF LHL YkQGXWH SH SURGXVH

 LQIOXHQ HL PRGLILF ULL SUH XU

q c q v1c0 100 1 v 0 0 100 q v1p0 qop0

ilor medii de vnzare unitare: q c q c 1 v1 0 100 1 v1 0 100 qv1 p1 qv1 p0

GLQ FDUH GDWRULW   LQIOXHQ HL LQIOD LHL

 LQIOXHQ HL DOWRU IDFWRUL GHFkW LQIOD LD

qv1c0 qv1c0 100 100 1 q p I q p v1 0 p v1 0 q c qv1c 0 100 1 v1 0 100 qv1 p1 q v1 p 0 I p

n care: Ip = UHSUH]LQW
1
SUH]LQW

LQGLFHOH LQIOD LHL ID

GH ED]D GH FRPSDUD LH

 LQIOXHQ HL PRGLILF ULL FRVWXULORU XQLWDUH

q c qv1c1 100 1 v1 0 100 qv1 p1 qv1 p1

Q FD]XO XWLOL] ULL PRGHOXOXL GH DQDOL] DVWIHO

E VLVWHPXO GH IDFWRUL VH

Rc

gi pi

ric
0HWRGRORJLD GH DQDOL]

ci
IDFWRULDO HVWH XUP WRDUHD

GLQ FDUH GDWRULW 

c R c = R 1 Rc 0

 LQIOXHQ HL PRGLILF ULL VWUXFWXULL SURGXF LHL YkQGXWH SH SURGXVH

g i1ri0 100

g i0 ri 0 100

=r R c R c 0
LL FRPHUFLDOH SH SURGXVH

 LQIOXHQ HL PRGLILF ULL UDWHL UHQWDELOLW

g i1ri1 100

g i1ri0 100

c r c = R1 R

GLQ FDUH GDWRULW 

 LQIOXHQ HL PRGLILF ULL SUH XULORU PHGLL GH YkQ]DUH XQLWDUH

 LQIOXHQ HL PRGLILF ULL FRVWXULORU XQLWDUH

c i0 c i0 g i1 1 p 100 g i1 1 p 100 i0 i1 100 100

c i0 c i1 g i1 1 p 100 g i1 1 p 100 i1 i1 100 100

 $QDOL]D UDWHL UHQWDELOLW 5DWD UHQWDELOLW LL UHVXUVHORU

LL UHVXUVHORU FRQVXPDWH 5 FRQVXPDWH UHIOHFW

rc

)
GLQWUH

FRUHOD LD

UH]XOWDWXO DIHUHQW FLIUHL GH DIDFHUL L FRVWXULOH WRWDOH DIHUHQWH YkQ] ULORU 0RGHOXO GH FDOFXO L DQDOL]

R rc =
consumDWH

)DFWRULL GLUHF L FDUH LQIOXHQ HD] VXQW VWUXFWXUD GH SURGXF LHL

Pr 100 = qv c

qv p qv c qv c

HVWH XUP WRUXO

100
LL UHVXUVHORU J FRVWXULOH SH SURGXVH

DVXSUD UDWHL UHQWDELOLW YkQGXWH L

XQLWDUH F L SUH XULOH PHGLL GH YkQ]DUH XQLWDUH H[FOXVLY 79$ S 0HWRGRORJLD DQDOL] IDFWRULDO FXDQWLILFDUHD DVWIHO LQIOXHQ HORU

factorilor, utiliznd datele din tabelul nr. 5.3. se pUH]LQW rc 42500 39100 R0 = 100 = 8,70% 39100 rc 51000 47379 R1 = 100 = 7,64% 47379
GLQ FDUH GDWRULW 

rc rc R rc = R 1 R0 = 7,64 8,70 = 1,06%

 LQIOXHQ HL PRGLILF ULL VWUXFWXULL SURGXF LHL YkQGXWH SH SURGXVH

g =

q v1p 0 g v1c 0 rc 100 R 0 = 6,33% q v1c 0

 LQIOXHQ HL PRGLILF ULL FRVWXULORU XQLWDUH

c =


q v1p 0 g v1c1 q v1p 0 g v1c 0 100 100 = 2,82% q v1c1 q v1c 0

PRGLILF ULL SUH XULORU PHGLL GH YkQ]DUH XQLWDUH SH

LQIOXHQ HL

produse:

p =
/D UHQWDELOLW

q v1p1 g v1c1 q v1p 0 g v1c1 100 100 = +8,09% q v1c1 q v1c1

SHULRDGHL DQDOL]DWH VH FRQVWDW R VF GHUH D UDWHL

ILQHOH

LL UHVXUVHORU FRQVXPDWH FD XUPDUH D GLPLQX ULL UDWHL GH HILFLHQ

a costurilor totale aferente cifrei de afaceri (indicele profitului a fost mai mic dect indicele cheltuielilor totale aferente cifrei de afaceri, respectiv 106,5%
ID DO GH  GHS LULL  LL UHVXUVHORU FRQVXPDWH V D RE LQXW FD HIHF 6F GHUHD UDWHL UHQWDELOLW FRVWXULORU

SUHY ]XWH

SH

SURGXVH

PRGLILF ULL

VWUXFWXULL

YkQ] ULORU

vQ

WLPS

FH

FUHWHUHD

SUH XULORU LL

PHGLL

GH

YkQ]DUH

XQLWDUH

D OD

LQIOXHQ DW vQ VHQVXO VSRULULL UDWHL UHQWDELOLW DQDOL]D IDFWRULDO 7UHEXLH

$SUHFLHUHD LQIOXHQ HORU IDFWRULORU HVWH LGHQWLF D SURILWXOXL DIHUHQW FLIUHL GH DIDFHUL UHPDUFDW IDSWXO R GXEO F DVXSUD UDWHL

FX FHD SUH]HQWDW LL

UHQWDELOLW

UHVXUVHORU

FRQVXPDWH FRVWXO H[HUFLW XQLWDUH SH SURGXV

DF LXQH LQIOXHQ kQG vQ VHQVXUL GLIHULWH SURILWXO VH UHGXFH LDU QXPLWRUXO

SULQ QXP U WRUXO L QXPLWRUXO UDSRUWXOXL H[ vQ FD]XO GHS LULL FRVWXULORU QXP U WRUXO FKHOWXLHOLOH WRWDOH FUHWH FHHD FH IDFH FD LQIOXHQ D QHJDWLY DVXSUD UDWHL UHQWDELOLW LL UHVXUVHORU FRQVXPDWH V D DFHVWXL IDFWRU

ILH PXOW PDL SXWHUQLF 

dect n cazul altor rate de rentabilitate).

Q OLWHUDWXUD GH VSHFLDOLWDWH vQ OHJ WXU RSLQLL SRWULYLW F URUD DU WUHEXL V ILH FXSULQV FX QLYHOXO DFHVWHL UDWH VXQW vQWUH 

15%.
e

 $QDOL]D UDWHL UHQWDELOLW 5DWD HFRQRPLF L UHQWDELOLW LL HFRQRPLFH HFRQRPLFH

LL HFRQRPLFH 5 UHIOHFW

)
GLQWUH XQ UH]XOWDW SHQWUX RE LQHUHD

FRUHOD LD

PLMORDFHOH

FDSLWDOXO

DQJDMDWH

DFHVWXLD Q FDOFXOXO UDWHL UHQWDELOLW

LL HFRQRPLFH OD QXP U WRU VH SRDWH

afaceri) sau excedentul brut din exploatare, iar la numitor mijloacele economice totale (activul total) sau o parte a acestora.
5DWD ILQDQFLDU UHQWDELOLW LL HFRQRPLFH HVWH LQGHSHQGHQW GH VWUXFWXUD JUDGXO GH vQGDWRUDUH SROLWLFD ILVFDO GH LPSR]LWDUH

XWLOL]D UH]XOWDWXO H[SORDW ULL SURILWXO DIHUHQW FLIUHL GH

a profitului,

SUHFXP L GH HOHPHQWHOH H[FHS LRQDOH 5DWD UHQWDELOLW LL HFRQRPLFH VH SRDWH VWDELOL DVWIHO

Re E.B.E. 100 sau 100 At At

$QDOL]D IDFWRULDO D UDWHL UHQWDELOLW LL HFRQRPLFH VH SRDWH UHDOL]D SH ED]D XUP WRDUHORU PRGHOH GH DQDOL] 

CA Re CA E.B.E. 100 sau R e = 100 At CA At CA Rc b) R e = ; At = Ai + Ac 1 1 + CA CA Ai Ac

a) R e =

n care: Rc = UHSUH]LQW
UDWD UHQWDELOLW LL FRPHUFLDOH

c Re 100 ; R = CA

E.B.E. = H[FHGHQWXO EUXW GLQ H[SORDWDUH OD  OHX FLIU GH DIDFHUL CA Ai = active imobilizate; Ac = active circulante; CA = YLWH]D GH URWD LH D DFWLYXOXL WRWDO H[SULPDW FD QXP U GH URWD LL At
3RWULYLW LQIOXHQ HD] SULPXOXL PRGHO GH DQDOL] VLVWHPXO GH IDFWRUL FDUH

DVXSUD UDWHL UHQWDELOLW

LL HFRQRPLFH HVWH XUP WRUXO

Re Rc

Ca At

Ca At
g p c sau Re
E.B.E. CA

Modificarea ratei
UHQWDELOLW DQDOL]

UHQWDELOLW

LL

HFRQRPLFH

VH

H[SOLF

SULQ

SULVPD

FHORU GRL IDFWRUL GLUHF L YLWH]D GH URWD LH D DFWLYXOXL WRWDO &$$W L UDWD LL FRPHUFLDOH VDX UDWD PDUMHL EUXWH OD  OHX YkQ] UL 5  D F UHL IL DSURIXQGDW SULQ LQWHUPHGLXO FHORU WUHL IDFWRUL LQGLUHF L

SRDWH

VWUXFWXUD SURGXF LHL YkQGXWH SH SURGXVH SUH XULOH PHGLL GH YkQ]DUH XQLWDUH L FRVWXULOH XQLWDUH

Utiliznd cel de-DO

SUH]LQW DVWIHO

GRLOHD PRGHO GH DQDOL]  VLVWHPXO GH IDFWRUL VH

Ca Ai
Re
CA Ac

g Rc n care: CA - UHSUH]LQW Ai CA - YLWH]D GH Ac (n).

XUP WRDUHD

p c

UDQGDPHQWXO DFWLYHORU LPRELOL]DWH 5

URWD LH D DFWLYHORU FLUFXODQWH H[SULPDW

FD QXP U GH URWD LL

0HWRGRORJLD

GH

DQDOL]

IDFWRULDO 

SRWULYLW

DFHVWXL

PRGHO

HVWH

GLQ FDUH GDWRULW 

e R e = R 1 Re 0

 LQIOXHQ HL PRGLILF ULL UDQGDPHQWXOXL DFWLYHORU LPRELOL]DWH

R =

Rc 0 1 1 + R1 n 0

Rc 0 1 1 + R0 n0

 LQIOXHQ HL PRGLILF ULL YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH

n =

Rc 0 1 1 + R 1 n1

Rc 0 1 1 + R1 n 0

 LQIOXHQ D PRGLILF ULL UDWHL UHQWDELOLW

LL

comerciale:

R c =

c R1

Rc 0

1RW P

1 1 + R 1 n1 1 1 1 = + R 1 n1
DVWIHO

$SURIXQGDUHD IDFWRUXOXL  VH UHDOL]HD]

 LQIOXHQ HL PRGLILF ULL VWUXFWXULL SURGXF LHL YkQGXWH SH SURGXVH

g =

 LQIOXHQ HL PRGLILF ULL SUH XULORU

c R c R0 , unde R c = 1 1

qv1c0 100 q p v1 0
medii de vnzare:

p =

 LQIOXHQ HL PRGLILF ULL FRVWXULORU XQLWDUH

" R c R c , unde " R c = 1 1

q v1c0 100 q p v1 1

c =

c R1 " R c

1
HYLGHQ LD] vQ SOXV ID GH SULPXO LL

Cel de-DO GRLOHD PRGHO GH DQDOL]

FLUFXODQWH FDUH UHSUH]LQW

HILFLHQ D XWLOL] ULL PLMORDFHORU HFRQRPLFH GH QDWXUD DFWLYHORU LPRELOL]DWH L R FRQGL LH HVHQ LDO SHQWUX VSRULUHD UHQWDELOLW

economice.

 $QDOL]D UDWHL UHQWDELOLW 5HQWDELOLWDWHD ILQDQFLDU

LL ILQDQFLDUH 5I FRUHOD LD GLQWUH SURILW L FDSLWDOXUL LL vQWUHSULQGHULL &LUFXPVFULV L SHUPDQHQWH DQDOL]D UDWHL

H[SULP

n calitatea lor de suUVH

VIHUHL GH FXSULQGHUH D UHQWDELOLW

GH ILQDQ DUH D DFWLYLW FDSLWDOXULORU SURSULL

LL ILQDQFLDUH VH DGDSWHD]

DFHVWHL VWUXFWXUL

 $QDOL]D UDWHL UHQWDELOLW $FHVW FDSLWDOXULORU LQGLFDWRU DF LRQDULORU P VRDU  DGXVH FD

LL ILQDQFLDUH D FDSLWDOXULORU vQ P ULPH VDX D UHODWLY  SURILWXOXL

proprii
O VDW OD

UHPXQHUDUHD QHW

DSRUW

GLVSR]L LD ILUPHL SHQWUX DXWRILQDQ DUH 5DWD vQ FDX]  UHIOHFW 5DWD UHQWDELOLW SH ED]D UHOD LHL

FRUHOD LD GLQWUH

SURILWXO QHW FD YHQLW DO DF LRQDULORU L FDSLWDOXULOH SURSULL DOH vQWUHSULQGHULL LL ILQDQFLDUH D FDSLWDOXULORU SURSULL 5I VH GHWHUPLQ

Rf =

Pn 100 Kp
IDFWRULDO D UDWHL UHQWDELOLW LL ILQDQFLDUH D FDSLWDOXULORU PRGHOH XWLOL]kQG vQ DFHVW VHQV XUP WRDUHOH GRX

$QDOL]D

proprii, poate fi aSURIXQGDW

PXOWLSOLFDWLYH GH DQDOL] 

a) Rf =

Vt At Pn 100 At Kp Vt Vt Pb Pn 100 Kp Vt Pb

b) Rf = astfel:

Q FD]XO SULPXOXL PRGHO GH DQDOL]  VLVWHPXO GH IDFWRUL VH SUH]LQW

Vt At

Rf

At Kp
Pn Vt

n care: Vt = UHSUH]LQW At
URWD LL

YLWH]D GH URWD LH D DFWLYXOXL WRWDO H[SULPDW

SULQ QXP U GH

At = factorul de multiplicare a capitalului propriu; Kp Pn = UHQWDELOLWDWHD QHW D YHQLWXULORU WRWDOH Vt Factorul de multipliFDUH D FDSLWDOXOXL SURSULX
vQGDWRUDUH D ILUPHL IDSW GHPRQVWUDW FX DMXWRUXO UHOD LHL

UHIOHFW

JUDGXO

GH

At Pt Kp + D D = = =1+ Kp Kp Kp Kp

n care: Pt = UHSUH]LQW SDVLYXO WRWDO D = datoriile totale; D = JUDGXO GH vQGDWRUDUH VDX EUD Xl prghiei financiare. Kp
8WLOL]kQG DFHVW PRGHO GH DQDOL]  FRQVLGHU P FD ILLQG QHFHVDU D

VXEOLQLD XUP WRDUHOH DVSHFWH

DFFHOHUDUHD

YLWH]HL

GH

URWD LH

DFWLYXOXL

WRWDO

UHSUH]LQW

FRQGL LH HVHQ LDO

SHQWUX VSRULUHD UDWHL UHQWDELOLW

LL ILQDQFLDUH D

capitalurilor proprii; factorul de multiplicare a capitalului propriu, cu ct este mai

PDUH FX DWkW FUHWH UHQWDELOLWDWHD R OLPLW FD OLPLW vQ FDX] PD[LP GREkQ]L ILQDQFLDU  GH vQGDWR PDL Q SUDFWLFD GH E QFL HFRQRPLF vQV  H[LVW GH vQGDWRUDUH DFFHSWDW 8QHOH E QFL DSUHFLD] DWUDJH SHQWUX ILUPD

rare 70% din

L JDUDQ LL

VXUVHOH WRWDOH DOH ILUPHL GHS LUHD DFHVWHL OLPLWH GH vQGDWRUDUH PDUL VXSOLPHQWDUH VROLFLWDWH GH E QFL GHRDUHFH ULVFXO ILQDQFLDU HVWH

mai mare (factorul de multiplicare fiind n acest caz 70 1+ = 3,33 ); 33

VSRULUHD UHQWDELOLW LL QHWH D YHQLWXULORU WRWDOH UHSUH]LQW SULQFLSDOD FDOH GH FUHWHUH D SURILWXOXL QHW L HVWH GHWHUPLQDW  vQ SULQFLSDO GH HILFLHQ D DFWLYLW LL GH H[SORDWDUH D ILUPHL

Potrivit celui de-al doilea model de

XUP WRUXO

DQDOL]  VLVWHPXO GH IDFWRUL HVWH

Vt Kp

Rf

Pb Vt Pn Pb

n care: Vt = UHSUH]LQW YHQLWXO PHGLX OD  OHX FDSLWDO SURSULX Kp Pb = profitul mediu brut la 1 leu venituri totale; Vt Pn = ponderea profitului net n profitul brut. Pb
$FHVW PRGHO vQ GH DQDOL] SXQH vQ HYLGHQ FDSLWDOXOXL SURILWXOXL SURSULX QHW UHQWDELOLWDWHD EUXW GLQ EUXW D GH YHQLWXULORU YHGHUH SURILWXO UHIOHFW SXQFW HYROX LD

HILFLHQ D WRWDOH L SH

XWLOL] ULL SRQGHUHD SURILW L D D

LPSR]LWXOXL ILVFDO

elementelor nedHGXFWLELOH deducerilor fiscale).

SUHFXP

 $QDOL]D UDWHL UHQWDELOLW 8WLOL]DUHD UDWHL UHQWDELOLW UROXO GH D HYLGHQ LD FRUHOD LD

LL ILQDQFLDUH D FDSLWDOXOXL SHUPDQHQW

LL ILQDQFLDUH D FDSLWDOXOXL SHUPDQHQW DUH FDSLWDOXO SHUPDQHQW L SURILWXO EUXW

GLQWUH

vQDLQWHD GHGXFHULL FKHOWXLHOLORU ILQDQFLDUH FX GREkQ]LOH L D LPSR]LWXOXL SH

profit.
0RGHOXO GH DQDOL] HVWH XUP WRUXO

Pb Rfp = 100 Kpr

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Ca Kpr Rfp = CA Pb 100 Kpr CA

Pb CA
n care: CA - UHSUH]LQW FLIUD GH DIDFHUL PHGLH OD  OHX FDSLWDO SHUPDQHQW Kpr Pb - SURILWXO PHGLX EUXW OD  OHX FLIU GH DIDFHUL CA
$FHVW PRGHO GH DQDOL] SXQH vQ HYLGHQ

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medii

DVLJXUH DFRSHULUHD

GH UHPXQHUDUH D GDWRULLORU SH WHUPHQ

VFXUW PHGLX L OXQJ FkW L D LPSR]LWXOXL SH SURILW DVWIHO vQFkW ILUPD V UHPXQHUDUHD DF LRQDULORU V L

4.3.5 Analiza ratelor de rentabilitate pe produs

/D UHQWDELOLW QLYHO GH SURGXV SRW IL GHWHUPLQDWH GRX WLSXUL GH UDWH UDWD LL UHVXUVHORU FRQVXPDWH L UDWD UHQWDELOLW LL FRPHUFLDOH

a) Analiza ratei rentabLOLW

LL UHVXUVHORU FRQVXPDWH SH SURGXV

0RGHOXO GH DQDOL]

HVWH

pc r rc = 100 c
0HWRGRORJLD GH DQDOL]

c p
IDFWRULDO DVWIHO D UDWHL UHQWDELOLW LL UHVXUVHORU

FRQVXPDWH SH SURGXV VH SUH]LQW

GLQ FDUH GDWRULW 

rc rc r rc = r1 r0

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p c1 p c0 c = 0 100 0 100 c1 c0
 LQIOXHQ HL PRGLILF ULL SUH XOXL GH YkQ]DUH DO SURGXVXOXL

p c1 p c1 100 0 p = 1 100 c1 c1
VH SUH]LQW

E $QDOL]D UDWHL UHQWDELOLW 0RGHOXO GH DQDOL]

LL FRPHUFLDOH SH SURGXV DVWIHO

c pc r = 100 = 1 p 100 p
c

p c

Metodologia de cuDQWLILFDUH D LQIOXHQ HORU IDFWRULORU HVWH

GLQ FDUH GDWRULW 

c c r c = r1 r0

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c0 c0 100 p = 1 100 1 p1 p0

 LQIOXHQ HL PRGLILF ULL FRVWXOXL XQLWDU

c1 c0 c = 1 p1 100 1 p 100 1 InflueQ D FRVWXOXL XQLWDU SRDWH

SUH]HQWD L OD SXQFWXO 

IL DSURIXQGDW

vQ IXQF LH GH IDFWRU LL

ii

VDX vQ IXQF LH GH

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analizate.
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UHQWDELOLW

SRLQW

Punctul critic, denumit L SUDJ GH UHQWDELOLWDWH VDX SXQFW GH HFKLOLEUX PRUW vQ IUDQFH] VDX EUHDN-HYHQ vQ HQJOH]  UHIOHFW DFHD
LL OD FDUH YHQLWXULOH GLQ YkQ]DUHD EXQXULORU OXFU ULORU

GLPHQVLXQH D DFWLYLW

serviciilor etc. sunt egale cu cheltuielile (variabile aferente volumului de

DFWLYLWDWH L IL[H WRWDOH SURILWXO ILLQG QXO

n raport cu dinamica volumului de activitate elementele de

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FX VSRULUHD YROXPXOXL GH DFWLYLWDWH SULQ FUHWHUHD JUDGXOXL GH IRORVLUH $FHDVW

GH DFWLYLWDWH FH WUHEXLH RE LQXW DVWIHO vQFkW YHQLWXULOH GLQ YkQ] UL V FKHOWXLHOLOH HIHFWXDWH HVWH UHIOHFWDW GH FDOFXO L DQDOL]

Metodologia
GXS

D SUDJXOXL GH UHQWDELOLWDWH GLIHU

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SH SURGXV VDX SH WRWDO vQWUHSULQGHUH



$QDOL]D

SUDJXOXL

GH

UHQWDELOLWDWH

vQ

FD]XO

XQHL

DFWLYLW

omogene (un singur produs) Pragul de rentabilitate, n cazul UHDOL]

P VXUDW FX DMXWRUXO LQGLFDWRULORU D 9ROXPXO IL]LF FULWLF DO SURGXF LHL Tcr ULL XQXL VLQJXU SURGXV SRDWH IL

):

q cr =

cf cf = p cv mbv

n care: cf UHSUH]LQW VXPD FKHOWXLHOLORU IL[H SH SURGXV p SUH GH YkQ]DUH XQLWDU cv cheltuieli variabile pe unitatea de produs; mbv PDUMD EUXW ID GH FKHOWXLHOLOH YDULDELOH SH XQLWDWHD GH SURGXV
E &LIUD GH DIDFHUL FULWLF &$cr

):

CAcr = qcrp
&LIUD GH DIDFHUL FULWLF UHIOHFW YkQ] ULOH ILUPHL SHQWUX FDUH SURILWXO

este egal cu zero. c) Gradul cULWLF GH XWLOL]DUH D FDSDFLW

G cr = q cr q max 100
FDSDFLWDWHD PD[LP GH SURGXF LH vQ H[SUHVLH IL]LF  LL GH SURGXF LH *cr

):

n care: qmax UHSUH]LQW

G 3HULRDGD FULWLF

Scr

):

p cr =

CA cr CA / T
YkQ] ULOH PHGLL SH XQLWDWHD GH WLPS ]L OXQ  DQ

n care: Ca - reprezint T

3UDJXO JUDILF  DVWIHO

GH

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SRDWH

IL

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SULQ

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CA

ct D B CAcr cv

cf

qcr

qmax

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D SUDJXOXL GH UHQWDELOLWDWH SH SURGXV

n care: OX UHSUH]LQW YROXPXO IL]LF DO SURGXF LHL OY indicatorii valorici (cifra de afaceri, cheltuieli etc.); ct cheltuieli totale pe produs; cv cheltuieli variabile pe produs; cf suma cheltuielilor fixe pe produs; OAB zona pierderilor; BCD zona profitului. Profitul maxim (Pr max FH SRDWH IL RE LQXW vQ FRQGL LLOH latura CD din triunghiul BCD, se poate determina astfel: Pr max = qmax (p cv) cf = qmax mbv cf

GDWH HVWH

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D SUDJXOXL GH UHQWDELOLWDWH

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cv

qcr
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qmax
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n care: OX UHSUH]LQW YROXPXO IL]LF DO SURGXF LHL OY LQGLFDWRULL YDORULFL SUH  FKHOWXLHOL YDULDELOH XQLWDUH FRVW XQLWDU
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cf c = cv + q
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profitul fiind zero.

)RORVLQG DFHHDL ORJLF  FD vQ FD]XO VWDELOLULL SUDJXOXL UHQWDELOLWDWH VH SRW FRQVWLWXL VFHQDULL SULQ FDUH VH HVWLPHD] JUDGXO YROXPXO GH IL]LF DO SURGXF LHL LL GH &$ XWLOL]DUH D FDSDFLW

vndute (q), cifra de afaceri

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Cf + Pr e p cv CA = q p q G = 100 q max CA P = CA / T 0 < Pre < Pr max q =

5HOD LLOH GH FDOFXO VXQW

unde: Pre profitul total estimat. n cazul n care profitul este estimat pe unitatea de produs (pru),
DWXQFL YROXPXO IL]LF DO SURGXF LHL YkQGXWH T vQ DFHVW FD] VH GHWHUPLQ

astfel:
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5HOD LLOH GH FDOFXO DOH LQGLFDWRULORU &$ * L S VXQW DFHOHDL FD vQ

cazul profitului total estimat.

$SOLFD LL L vQWUHE

UL
DIHUHQW FLIUHL GH DIDFHUL

1. $QDOL]D IDFWRULDO Interpretarea rezultatelor.

Nr. crt. 1 2 3 4 5 Indicatori
&LIUD GH DIDFHUL HYDOXDW

SURILWXOXL

- mil lei Simbol qvp qvc P0 10400 9360 10400 P1 12400 11284 ? ? 1116
vQ SUH XUL GH YkQ]DUH

(-TVA) Cheltuieli totale aferente cifrei de afaceri

9ROXPXO HIHFWLY DO SURGXF LHL HYDOXDW vQ SUH XUL PHGLL SUHY ]XWH 9ROXPXO HIHFWLY DO SURGXF LHL YkQGXWH HYDOXDW vQ FRVWXUL SUHY ]XWH

q v1 p 0 q v1 c 0
Pr

Profitul aferent cifrei de afaceri

1RW

vnzare, Ic 2.
V

: Ip = 132%; Ic = 126% unde Ip UHSUH]LQW LQGLFHOH SUH XULORU GH UHSUH]LQW LQGLFHOH FRVtului mediu pe produs.
ED]D GDWHORU SUH]HQWDWH OD DSOLFD LD QU  V VH DQDOL]H]H LL FRPHUFLDOH V VH GHWHUPLQH LQIOXHQ D IDFWRULORU L

3H

HYROX LD UDWHL UHQWDELOLW

VH LQWHUSUHWH]H UH]XOWDWHOH

3. 6 VH LQWHUSUHWH]H FD]XO ICA = 108% unde: CA = cifra de afaceri ICh = 106% Ch = cheltuielile aferente cifrei de afaceri 4. nr. 1. 5. Ce este pragul de rentabilitate? 6. Ce sunt soldurile intermediare de gestiune?
H[HUFL LXOXL $QDOL]D IDFWRULDO D UDWHL UHQWDELOLW LL UHVXUVHORU FRQVXPDWH ,QWHUSUHWDUHD HFRQRPLF D UH]XOWDWHORU 'DWHOH YRU IL SUHOXDWH GH OD DSOLFD LD

7. Care sunt elementele componente ale rezultatului brut al ? 8.

6 VH GHWHUPLQH LQIOXHQ D VWUXFWXULL YHQLWXULORU GLQ H[SORDWDUH SH L DVXSUD UH]XOWDWXOXL H[SORDW ULL ,QWHUSUHWDUH HFRQRPLF DFWLYLW

WLSXUL

pentru gi = - x mil lei. 9.

6

GH

VH VWDELOHDVF

LQIOXHQ D YROXPXOXL IL]LF DO SURGXF LHL YkQGXWH VH LQWHUSUHWH]H FD]XO SHQWUX

DVXSUD SURILWXOXL DIHUHQW FLIUHL GH DIDFHUL L V

Iq < 100.

10. $QDOL]D rezultatelor.

Nr. crt. 1. 2. 3. 4. 4.1. 4.2. 5. 6. 7. 8. 9. 10. 11. 12.

IDFWRULDO

D UDWHL UHQWDELOLW

LL HFRQRPLFH ,QWHUSUHWDUHD

Indicatori Cifra de afaceri (-TVA) (mil lei)

Simbol qp q1p0 Rc AT AI AC RE Re qc recalculate q1c0 Vt Kp Pn Pb

P0 30500 10 38125 22875 15250 3050 8 27450 42500 27450 3900 5200

P1 36000 34400 12 48000 26400 21600 4320 9 31680 29800 50600 35520 5700 7600

_ ` a b cedfcaGcgf4b`)bGfgch g4ijh c4k l mn` hjh f` o  pc k cKbGf4q)k c4r)` h ` k ` `jgs

m:f4b g` ch fXl t"o pefuijh k c4k ijhVfvwjh s1c4k b ` `Vl m:` hjh f` o pc k cKbGf4q)k c4r)` h ` k ` `jfgs
qVs
mn` gfl t+o

Active totale: din care (mil lei) Active imobilizate (mil lei) Active circulante (mil lei)

Cheltuieli aferente cifrei de afaceri (mil lei) Cheltuieli aferente cifrei de afaceri (mil lei) Venituri totale (mil lei) Capital propriu (mil lei) Profit net Profit brut

XWLOL]kQG GDWHOH GLQ WDEHOXO GH OD DSOLFD LD  ,QWHUSUHWDUHD HFRQRPLF

11.

VH UHDOL]H]H DQDOL]D IDFWRULDO

D UDWHL UHQWDELOLW

LL ILQDQFLDUH D

rezultatelor. 12. &H HYLGHQ LD]

UDWHL UHQWDELOLW IDFWRUXO GH PXO

tiplicare a capitalului propriu?

gi = - x %.

13.

VH GHWHUPLQH LQIOXHQ D VWUXFWXULL SURGXF LHL YkQGXWH DVXSUD LL HFRQRPLFH L V UDWD UHQWDELOLW VH LQWHUSUHWH]H FD]XO LL HFRQRPLFH 5H "

14. &H HYLGHQ LD]

DVXSUD SURILWXOXL DIHUHQW FLIUHL GH DIDFHUL L V

15. 6

VH GHWHUPLQH LQIOXHQ D JUDGXOXL GH vQ]HVWUDUH WHKQLF

VH LQWHUSUHWH]H FD]XO LQIOXHQ HL

D PXQFLL

cu semnul . 16. 6 VH LQWHUSUHWH]H ICA = 110% unde: ICh = 111% Iq = 102%

GHWHUPLQ

CA = cifra de afaceri Ch = cheltuieli aferente cifrei de afaceri q YROXPXO IL]LF DO SURGXF LHL YkQGXWH
EUXW DO H[SORDW ULL (%( L FXP VH

17.

"

&H

HVWH

H[FHGHQWXO

18. 6 VH LQWHUSUHWH]H FD]XO 0& PDUM FRPHUFLDO IMC = 112% n care: ICA = 115% CA = cifra de afaceri

5
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superioar financiar.
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firmei la schimb ULOH GH PHGLX R EXQ IOH[LELOLWDWH QX SRDWH GHFkW contribuie la maximizarea valorii ntreprLQGHULL &UHWHUHD PD[LPDO
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lung FUHWHUHD YDORULL SDWULPRQLDOH D ILUPHL VLQJXUXO FDUH SHUPLWH perenitatea acesteia. Obiectivele principale ale analizei financiar-patrimoniale sunt: stabilirea patrimoniului net, respectiv a valorii contabile a averii
DF LRQDULORU GHWHUPLQDUHD V Q W H[SORDW ULL VWDELOLUHD OLFKLGLW GHWHUPLQDUHD LL L VRYDELOLW LL LL ILUPHL D DFHVWHLD SH ED]D WDEORXOXL IOH[LELOLW ILQDQFLDUH LL ILQDQFLDUH UHVSHFWLY GHWHFWDUHD XQRU HYHQWXDOH VLWXD LL GH GH]HFKLOLEUX ILQDQF

iar care ar putea periclita continuitatea

fluxurilor de trezorerie;
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patrimoniale
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transforma n numerar), iar n pasiv toate obliga iile, respectiv angajamentele DVXPDWH DUDQMDWH vQ RUGLQHD FUHVF WRDUH D H[LJLELOLW LL
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anumitor fuQF LL FXP DU IL IXQF LD GH SURGXF LH IXQF LD GH LQYHVWLUH L dezinvestire, prHFXP L IXQF LD GH ILQDQ DUH
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numerar. De asemenea, activului imRELOL]DW

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obilizat;
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etc.

2.

&RUHF LL UHIHULWRDUH OD SDVLYXO ELODQ XOXL

a) Capitalurile permanente VH GLPLQXHD] FX YDORDUHD DFWLYHORU fictive (cheltuielile de constituire, debitorii din capitalul subscris
L QHY UVDW FKHOWXLHOLOH GH UHSDUWL]DW DVXSUD H[HUFL LLORU ILQDQFLDUH YLLWRDUH L GLIHUHQ HOH GH FRQYHUVLH DFWLY VH VFDG GLQ FD

pitalurile
FX

SURSULL LDU SULPHOH SULYLQG UDPEXUVDUHD REOLJD LXQLORU VH VFDG GLQ vPSUXPXWXULOH L GDWRULLOH DVLPLODWH SH WHUPHQ PHGLX L OXQJ  L FX GLYLGHQGHOH GH SODW  GH DVHPHQHD DFHVWHD VH PDMRUHD]

veniturile nregistrate n avans (apar innd grupei Conturi de UHJXODUL]DUH L DVLPLODWH Pasiv din bilan ul contabil) cu termen
GH H[LJLELOLWDWH !  DQ L FX GLIHUHQ HOH GH FRQYHUVLH SDVLY DFHVWHD ILLQG FRQVLGHUDWH SURILW SRWHQ LDO

b) Datoriile cu scadenta < 1 an LQFOXG REOLJD LLOH QHILQDQFLDUH L finDQFLDUH FUHGLWHORU EDQFDUH FXUHQWH $FHVWHD VH PDMRUHD] FX
SURYL]LRDQHOH SHQWUX ULVFXUL L FKHOWXLHOL FX WHUPHQ GH H[LJLELOLWDWH   DQ GLYLGHQGHOH GH SODW  YHQLWXULOH FRQVWDWDWH vQ DYDQV GLQ JUXSD &RQWXUL GH UHJXODUL]DUH L DVLPLODWH

Pasiv
  DQ SHQWUX

din

ELODQ XO

FRQWDELO

DYkQG

WHUPHQ

GH L

H[LJLELOLWDWH

SUHFXP L FX GDWRULD ILVFDO LQYHVWL LL Q XUPD YD SURYL]LRDQHORU

ODWHQW  DIHUHQW

VXEYHQ LLORU SHQWUX

UHJOHPHQWDWH PDL DFWLY

SURYL]LRDQHORU ELODQ XO VDX DGLF

ULVFXUL L FKHOWXLHOL SUHFXP L DOWRU HOHPHQWH GH FDSLWDOXUL SURS FRUHF LLORU FRQ LQH vQ FHOH PHQ LRQDWH SDUWHD PDL GH SX LQ VXV QHYRL SDWULPRQLDO vQWUHEXLQ

rii;
UL

ILQDQFLDU

permanente

HOHPHQWHOH

OLFKLGH

LPRELOL] ULOH

, L QHYRL L vQWUHEXLQ UL WHPSRUDUH, n care se includ activele circulante care au un grad de lichiditate mult mai PDUH GHFkW LPRELOL] ULOH 3DUWHD GH SDVLY YD IL IRUPDW GLQ resurse sau capitaluri permanente DGLF FDSLWDOXULOH SURSULL UHLQYHQVWLUL DOH DFXPXO ULORU DQWHULRDUH UH]HUYH SURILW QHUHSDUWL]DW L FDSLWDOXULle din surse SXEOLFH VXEYHQ LL SURYL]LRDQH UHJOHPHQWDWH), SUHFXP L GDWRULLOH SH WHUPHQ PHGLX L OXQJ FX VFDGHQ PDL PDUH GH XQ DQ L GH DVHPHQHD GLQ resurse temporare, DGLF GDWRULLOH FX VFDGHQ PDL PLF GH XQ DQ 3UHOXFUDUHD
GDWHORU GLQ ELODQ XO FRQWDELO YD GHWHUPLQD XUP WRDUHD VWUXFWXU D ELODQ XOXL H[LVWH vQWUH ILQDQ DUH

QHFRUSRUDOH FRUSRUDOH L ILQDQFLDUH

financiar (fig.5.1).
/XkQG vQ FRQVLGHUDUH XQ DQXPLW HFKLOLEUX FDUH WUHEXLH V GXUDWD XQHL RSHUD LL GH ILQDQ DW L GXUDWD PLMORDFHORU GRX FRUHVSXQ] WRDUH ELODQ XO ILQDQFLDU SXQH vQ HYLGHQ DOH ILQDQ GH UHJXOL SULQFLSDOH

ULL UHVSHFWLY QHYRLOH SHUPDQHQWH GH ILQDQ DUH YRU IL DFRSHULWH GLQ

capitaluri permanente, ndeosebi din capitaluri proprii, iar nevoile temporare

YRU

IL

ILQDQ DWH

, n special din resurse temporare. Nerespectarea acestor

UHJXOL GH ILQDQ DUH YD GHWHUPLQD R VLWXD LH GH GH]HFKLOLEUX ILQDQFLDU

NEVOI = ACTIV Activ imobilizat net ( > 1 an ) - LPRELOL] UL QHFRUSRUDOH - LPRELOL] UL FRUSRUDOH - LPRELOL] UL ILQDnciare > 1 an - crean e > 1 an

Activ circulant net (< 1 an) - stocuri - FUHDQ H FOLHQ L   DQ - GLVSRQLELOLW L - LPRELOL] ri financiare < 1 an
)LJ  %LODQ

RESURSE = PASIV Capitaluri permanente - capital social - rezerve - VXEYHQ LL - rezultat nerepartizat - provizioane > 1 an - GDWRULL SH WHUPHQ PHGLX L OXQJ (> 1 an) Datorii pe termen scurt (< 1 an) - financiare (credite bancare curente) - nefinanciare Provizioane < 1 an
ILQDQFLDU SDWULPRQLDO

Exemplu:
7DEHOXO GH PDL MRV VLQWHWL]HD] FRQWDELO VLWXD LD SDWULPRQLXOXL vQWUHSULQGHULL OD

31 Dec DQXO 1 VWDELOLW

5HDOL]D L FRQYHUVLD ELODQ %,/$1

SH ED]D ELODQ XOXL FRQWDELO

ELODQ

SDWULPRQLDO ILQDQFLDU

Tabelul. 5.2
&217$%,/ 1&+(,$7 /$  DQXO 1

= mil lei =
ACTIV
,PRELOL] UL QHFRUSRUDOH ,PRELOL] UL FRUSRUDOH ,PRELOL] UL ILQDQFLDUH     

PASIV Capital social Rezerve

6XEYHQ LL SHQWUX LQYHVWL LL

68.500 34.600


5H]XOWDWXO H[HUFL LXOXL   

TOTAL ACTIVE IMOBILIZATE Stocuri

&OLHQ L   $OWH FUHDQ H SH WHUPHQ VFXUW

83.300 63.700
 

TOTAL CAPITAL PROPRIU Provizioane pentru

ULVFXUL L FKHOWXLHOL

116.510


Titluri de plasament
'LVSRQLELOLW L

11.750 650

Credite bancare (****) Furnizori

44.600 40.220

TOTAL ACTIVE CIRCULANTE 148.230 Cheltuieli nregistrate n avans 3.500 CONTURI DE REGULARIZARE , $6,0,/$7( 3.500 TOTAL ACTIV 235.030

Alte datorii pe termen scurt 29.500 TOTAL DATORII 114.320

TOTAL PASIV

235.030

* din care < 1 an = 27 mil. lei; ** din care > 1 an = 15.200 mil. lei; *** din care: 8.410 mil. lei pentru fonduri proprii si 3.600 mil. lei pentru dividende. **** din care credite bancare curente 14.000 mil. lei. Not : VH FRQVLGHU F toate cheltuielile nregistrate n avans au termen de lichiditate < 1 an. Rezolvare (vezi tabelul 5.3): 1.
&RUHF LL UHIHULWRDUH OD DFWLYXO ELODQ XOXL LPRELOL] ULOH LPRELOL] ULORU FOLHQ LORU LPRELOL] U YDORDUHD FDUH ILQDQFLDUH GH    DQ R  DX OLFKLGLWDWH GH  PLO OHL VH YRU OHL !  L DQ OHL VH YRU GLPLQXD FX YDORDUHD PDMRUD PLO FX YDORDUHD OHL PLO

 VH YD

, rezultnd
YDORDUHD

i financiare de 15.223 mil. lei;

FOLHQ LORU PLO GLPLQXD FX

clien ilor cu: termen de lichiGLWDWH !  DQ   PLO OHL  L VH YD majora cu valoarea LPRELOL] ULORU ILQDQFLDUH   DQ   PLO OHL  L FX valoarea cheltuielilor nregistrate n avans ( 3.500 mil lei ), rezultnd un sold al clien ilor < 1 an de 58.827 mil. lei; 2.
&RUHF LL UHIHULWRDUH OD SDVLYXO ELODQ XOXL 

capitalul social se va majora cu 8.410 mil. lei reprezentnd profit net repartizat pentru constituirea fondurilor proprii, ajungnd astfel la valoarea de 79.910 mil. lei; GDWRULLOH ILQDQFLDUH SH WHUPHQ OXQJ UHSUH]LQW 00 mil. lei, deoarece din suma total a creditelor bancare de 44.600 mil. lei , creditele bancare curente au o valoare de 14.000 mil. lei.
GDWRULLOH ILQDQFLDUH SH WHUPHQ VFXUW VH PDMRUHD] FX YDORDUHD

dividentelor datorate ( 3.600 mil. lei ).

Tabelul 5.3
%,/$1 3$75,021

IAL (FINANCIAR) NCHEIAT LA 31.12 anul N = mil.lei =

98.473


ACTIV Nevoi permanente

,PRELOL] UL QHFRUSRUDOH ,PRELOL] UL

corporale

83.050


PASIV Capitaluri permanente Capitaluri proprii Proviz. pt. Riscuri

L FKHOWXLHOL

147.710 112.910
 

,PRELOL] UL ILQDQFLDUH

Nevoi temporare Stocuri

&UHDQ H 'LVSRQLELOLW L L

136.557 63.700


titluri de plasament TOTAL ACTIV

12.400 235.030

DaWRULL SH WHUP PHGLX L OXQJ Resurse temporare Datorii furnizori Dividende datorate Alte datorii pe termen scurt Credite curente TOTAL PASIV

87.320 40.220 3.600 29.500 14.000 235.030

%LODQ XO IXQF LRQDO RIHU

R LPDJLQH DVXSUD PRGXOXL GH IXQF LRQDUH

GLQ SXQFW GH YHGHUH HFRQRPLF D vQWUHSULQGHULL HYLGHQ LLQG DWkW XWLOL] L VXUVHOH FRUHVSXQ] WRDUH ILHF UXL FLFOX UHVSHFWLY GH

rile ct
GH

LQYHVWL LL

H[SORDWDUH L FHO GH ILQDQ DUH L WUH]RUHULH &LFOXO GH LQYHVWL LL FXSULQGH DFKL]L LRQDUHD GH DFWLYH LPRELOL]DWH

$VWIHO LPRELOL] ULOH DORF

UHJUXSDWH SULQ IXQF LD GH LQYHVWL LH FRQVWLWXLH

UL VWDELOH DFLFOLFH

FDUH VXQW ILQDQ DWH vQ PRG QHFHVDU GLQ

nevoi resursele

durabile (aciclice)

H[LVWHQWH vQ SDVLYXO ELODQ XOXL $FWLYHOH FLUFXODQWH FkW L

UHVXUVHOH SHQWUX ILQDQ DUHD ORU VXQW FRQVLGHUDWH FLFOLFH GHRDUHFH UHFXSHUDUHD

capitaluriloU DORFDWH L UHvQQRLUHD VXUVHORU VH IDFH ciclu de exploatare. Ciclul de exploatare FXSULQGH IOX[XULOH GH
L GLVWULEX LH YkQ] UL DWkW VXE IRUP

GXS

vQFKHLHUHD ILHF

rui

DSURYL]LRQDUH SURGXF LH

GH IOX[XUL IL]LFH FkW L ILQDQFLDUH

Posturile de activ legatH

GLUHFW GH RSHUD LLOH FLFOXOXL GH H[SORDWDUH VWRFXUL

FUHDQ H FOLHQ L FKHOWXLHOL GH H[SORDWDUH FRQVWDWDWH vQ DYDQV

etc.) constituie active circulante de exploatare, FDUH vQ PRG ILUHVF WUHEXLH ILQDQ DWH GLQ datoriile de exploatare GDWRULL IXUQL]RUL L asimilate, venituri din exploatare constatate n avans etc. &HOHODOWH SRVWXUL GH DFWLY L SDVLY FDUH UHIOHFW
RSHUD LXQL H[SORDW ULL GLYHUVH L VXQW vQ UHJUXSDWH DIDUD vQ FDWHJRULLOH DFWLY FLUFXODQW L vQ DIDUD GDWRULL H[SORDW ULL UHVSHFWLY DFWLYXO SDVL

vul de

trezorerie.

Ciclul

GH

ILQDQ DUH

VH

UHIHU

OD

DQVDPEOXO

RSHUD LXQLORU

GLQWUH

vQWUHSULQGHUH L SURSULHWDULL GH FDSLWDO DF LRQDULL L FUHGLWRULL vQWUHSULQGHULL

Acesta regUXSHD] SRVWXULOH indiferent de scaden D ORU LDU

ID GHFDODMXOXL GLQWUH OLFKLGLW

GH

FDSLWDOXUL

SURSULL

GDWRULL

ILQDQFLDUH

SURYL]LRDQHOH SHQWUX ULVFXUL L FKHOWXLHOL VXQW IDF

DVLPLODWH VXUVHORU SURSULL )OX[XO GH ILQDQ DUH SHUPLWH vQWUHSULQGHULL V L

le

GH LQWUDUH L

cele

GH LHLUH

, provocat de

ciclul de exploatare. Lund n coQVLGHUDUH

LQYHVWL LH HVWH SODVDW vQ

VHPQLILFD LLOH DFHVWRU WUHL FLFOXUL IXQF LD GH GLQ VWkQJD QLYHOXO GH VXV DO ELODQ XOXL

SDUWHD

IXQF LD GH ILQDQ DUH SRDWH IL UHSUH]HQWDW DO ELODQ XOXL IXQF LD GH ILQDQ DUH HVWH D ELODQ XOXL 

vQ SDUWHD GLQ GUHDSWD QLYHOXO GH VXV

pozi LRQDW

H[FOXVLY vQ SDUWHD GH MRV

fig. 5.4).
1

3ULQFLSLL FDUH VWDX OD ED]D vQWRFPLULL ELODQ XOXL IXQF LRQDO

:
YDORDUHD

a)

DFWLYHOH VXQW OXDWH vQ FDOFXO OD YDORDUHD ORU EUXW  DGLF

de intrare n patrimoniu, iar n pasiv se iau n considerare

DPRUWL] ULOH UXODMXO FUHGLWRU DO FRQWXOXL  L SURYL]LRDQHOH

b)

LPRELOL] ULOH JHVWLXQH VXQW

vQFKLULDWH vQWHJUDWH

GH LQXWH vQ DFWLY

vQ L

OHDVLQJ

VDX

vQ vQ

ORFD LH SDVLY

GH

FRUHVSXQ] WRU

PSUXPXWXUL L GDWRULL DVLPLODWH GHRDUHFH HOH VHUYHVF

, la FLFOXOXi

de exploatare; c) d) e)
FRQFHSWXO GH DFWLY ILFWLY QX PDL HVWH RSHUD LRQDO FKHOWXLHOLOH DVLPLOHD] FDUH SULYHVF H[HUFL LLOH ILQDQFLDUH YLLWRDUH VH

DFWLYHORU LPRELOL]DWH  GHELWRULL SULYLQG FDSLWDOXO

HIHFWHOH VFRQWDWH QHDMXQVH OD VFDGHQ

VXEVFULV L QHY UVDW SULPHOH SULYLQG UDPEXUVDUHD REOLJD LXQLORU L

diIHUHQ HOH GH FRQYHUVLH GH f)

DPRUWL]DUHD IXQF LRQDO L

DFWLY L GH SDVLY VH WUDWHD]

vQ DFHODL

PRG FD L OD HODERUDUHD ELODQ XOXL SDWULPRQLDO SURYL]LRDQHOH VXQW LQFOXVH vQ SDVLYXO ELODQ XOXL ILUPHL R

FD VXUVH DFLFOLFH FDUH U PkQ OD

GLVSR]L LD

perioada mai mare de un an).

M. Niculescu/ Diagnostic global strategic/ Editura E 

   

'LQ SHUVSHFWLYD ELODQ XOXL IXQF LRQDO UHDOL]DUHD HFKLOLEUXOXL ILQDQFLDU DO vQWUHSULQGHULL QX SUHVXSXQH GRDU H[LVWHQ D XQXL IRQG GH UXOPHQW SR]LWLY FL

a unui fond de rulment acoperitor nevoilor de finantare ale ciclului de H[SORDWDUH VWRFXUL  FUHDQ H GH H[SORatare datorii de exploatare).
5ROXO ELODQ XOXL IXQF LRQDO vQ DQDOL]D ILQDQFLDU SHUPLWH UHIOHFWDW DSUHFLHUHD YXOQHUDELOLW LL VWUXFWXULL HVWH QX QXPDL GH D D vQWUHSULQGHULL ILQDQFLDUH

GH HYROX LD WUH]RUHULHL QHWH

GDU L GH D H[SULPD FRUHOD LD GLQWUH LL VDOH

VWUXFWXUD ILQDQFLDU

D ILUPHL L QDWXUD DFWLYLW

NEVOI = ACTIV NEVOI ACICLICE ( STABILE ) - Activ imobilizat (brut)

NEVOI CICLICE - Activ circulant de exploatare (brut) - $FWLY FLUFXODQW vQ DIDUD H[SORDW ULL EUXW - Active de trezorerie
)LJ  %LODQ

SURSE = PASIV SURSE ACICLICE (DURABILE) - capitaluri proprii - DPRUWL] UL L SURYL]LRDQH - datorii financiare SURSE CICLICE - Datorii de exploatare - 'DWRULL vQ DIDUD H[SORDW ULL - Pasiv de trezorerie
IXQF LRQDO

5.2.2 Analiza patrimoniului net

3DWULPRQLXO UHSUH]LQW QHYRL OH VDWLVIDF SUHFXP L VH WRWDOLWDWHD GUHSWXULORU L REOLJD LLORU FH SRW IL EXQXULOH GHILQHWH OD FDUH VH UHIHU  DFWLYHOH Q FD]XO XQHL H[SULPDWH vQ EDQL DSDU LQkQG XQHL SHUVRDQH IL]LFH VDX MXULGLFH DOH F URU vQWUHSULQGHUL SDWULPRQLXO FD ILLQG vQWUHSULQGHULL

negrevate de datorii, VDX DYHUHD DF LRQDULORU VWDELOLW SH ED]D ELODQ XOXL patrimonial2. Patrimoniul net sau activul net contabil se poate determina astfel: 1. FD GLIHUHQ GLQWUH DFWLYXO WRWDO L GDWRULLOH WRWDOH H[SULPDUH materiala a patrimoniului net); 2. FD VXP D HOHPHQWHORU FDSLWDOXOXL SURSULX
3DWULPRQLXO QHW HVWH vQ PRG QRUPDO SR]LWLY L FUHVF WRU FD XUPDUH D XQHL JHVWLXQLL V Q WRDVH $FHDVW VLWXD LH UHIOHFW GH IDSW DWLQJHUHD RELHFWLYXOXL PDMRU DO ILUPHL L DQXPH PD[LPL]DUHD YDORULL SDWULPRQLDOH D

acesteia.
2

V. Robu si N. Georgescu/ Analiza economico-financiara/ Editura OMNIA UNI S.A.S.T. S.R.L./Brasov 2000

Avnd n vedere prima modalitate de calcul a patrimoniului net,

FUHWHUHD DFHVWXLD VH vQUHJLVWUHD] DWXQFL FkQG ULWPXO DFWLYHORU WRWDOH VH

devansea]
SRW vQWkOQL

ULWPXO GDWRULLORU WRWDOH VLWXD LL vQ FDUH GLQDPLFD VH FHD PDL SULQ DFFHQWXDW QRL R vQUHJLVWUHD] DOH YHFKLORU 'H FDUH

$QDOL]kQG HOHPHQWHOH FDSLWDOXOXL SURSULX vQ SUDFWLFD HFRQRPLF VXUVHOH FRQVWLWXLWH SH VHDPD UHQWDELOLW

LL ILUPHL UH]HUYHOH OHJDOH IRQGXULOH DSRUWXUL GH

proprii etc.
VRFLDO

&DSLWDOXO XQRU

VRFLDO GDWRULL QHW

PRGLILF

DF LRQDUL VDX DOH XQRUD QRL L VDX SULQ FRQYHUVLD XQRU GDWRULL vQ FDSLWDO VWLQJHUHD vQ VFKLPEXO SLHUGHUH XQXL SDFKHW DF LXQL vQ

asemenea, rezultatul reportat poate fi pURILW

FUHWHUHD SDWULPRQLXOXL VDX

QHUHSDUWL]DW FHHD FH GHWHUPLQ QHDFRSHULW FUHDVF FD]

patrimoniul va fi diminuat).
Q FRQVHFLQ  SDWULPRQLXO QHW SRDWH V SH VHDPD VXUVHORU LQWHUQH UHQWDELOLWDWHD vQWUHSULQGHULL L SH ED]D XQRU

surse externe (aporturi, primirea cu titlu gratuit a unor active, conversia unor datorii n capital social etc.).

 $QDOL]D FRUHOD LHL GLQWUH IRQGXO GH UXOPHQW QHYRLD GH IRQG GH UXOPHQW L WUH]RUHULD QHW UHSUH]LQW SDUWHD GLQ FD

Fondul de rulment
XWLOL]DW

pitalul permanent

SHQWUX ILQDQ DUHD DFWLYHORU FLUFXODQWH LPSXV

GH GLIHUHQ HOH GLQWUH L L GXUDWD PHGLH vQ

VXPHOH GH vQFDVDW L VXPHOH GH SO WLW SUHFXP L GH GHFDODMXO GLQWUH WHUPHQXO PHGLX GH WUDQVIRUPDUH D DFWLYHORU FLUFXODQWH vQ OLFKLGLW

care datoriile pe termen scurt devin exigibile.

0RGDOLW L GH FDOFXO D IRQGXOXL GH UXOPHQW

1. Conform astfel :

FRQFHS LHL SDWULPRQLDOH

, fondul de rulment se poate calcula

a) FR = Capital permanent Active imobilizate ; Fondul de rulment poate fi descompus n fond de rulment propriu (FRp) L mprumutat (FRi): FR = FRp + FRi FRp = Capitaluri proprii Active imobilizate FRi 'DWRULL SH WHUPHQ PHGLX L OXQJ

b)
Q

FR = Active circulante Datorii pe termen scurt

DFHDVW VLWXD LH IRQGXO GH UXOPHQW UHIOHFW FRUHOD LD GLQWUH

OLFKLGLWDWHD DFWLYHORU FLUFXODQWH L H[LJLELOLWDWHD GDWRULLORU SH WHUPHQ VFXUW $FHVWD SUH]LQW GRX S U L DOH R YDORDUH LQIRUPDWLY ELODQ XOXL ILQDQFLDU ULGLFDW  DVLJXUkQG OHJDWXUD GLQWUH FHOH &D XUPDUH fondul de rulment este considerat ca fiind cel mai important indicator al echilibrului financiar lichiditate exigibilitate, care permite aprecierea pe termen scurt a riscului GH LQFDSDFLWDWH GH SODW 

2.

Potrivit FRQFHS LHL IXQF LRQDOH IRQGXO GH UXOPHQW IXQF LRnal sau fondul
GH UXOPHQW QHW JOREDO )5*1 VH GHWHUPLQ DVWIHO

a) FRNG = Surse aciclice Active aciclice

)RQGXO GH UXOPHQW QHW JOREDO UHIOHFW VXUSOXVXO UHVXUVHORU GXUDELOH vQ

raport cu valorile imobilizate. b) FRNG = ( Nevoi ciclice + Nevoi de trezorerie ) ( Resurse ciclice + Resurse de trezorerie ) = ( Active circulante de exploatare + Active circulante n afara exploat rii + Disponibilit i) (Datorii de exploatare + Datorii n afar exploat rii + Credite bancare de trezorerie) Lund n considerare foUPXOD
REOLJDW V GH FDOFXO GH PDL VXV GDF IRQGXO GH UXOPHQW HVWH SR]LWLY VDX QHJDWLY ILUPD DUH OLFKLGLW UHSUH]LQW vQWUH L VDX GLPSRWULY GLQWUH L

este
ULL GH

DQJDMH]H QRL FUHGLWH SHQWUX ILQDQ DUHD QHYRLORU GH H[SORDWDUH GLIHUHQ D VXPD UHDOH QHYRLOH L VXUVHOH VH WHPSRUDUH vQ WLPS UHVSHFWLY QHFHVDU ILQDQ IOX[XULOH

Nevoia de fond de rulment

WHPSRUDUH GHFDODMHORU FDUH SURGXF

IOX[XULOH

trezorerie determinate n special de activitatea de exploatare. a) Pe baza bilan ului patrimonial, aceasta se stabilete astfel: NFR = (Active circulante 'LVSRQLELOLW L E QHWL (Datoriile pe termen scurt Creditele pe termen scurt) = (Active circulante 'LVSRQLELOLW L E QHWL 2EOLJD LL SH WHUPHQ VFXUW sau: NFR = (Stocuri + Crean e) Credite pe termen scurt
1HYRLD GH IRQG GH UXOPHQW VHPQLILF VFXUW VXUVHORU DWUDVH 2EOLJD LLOH SH vQ HVHQ VFXUW

, activele circulante de
GH QDWXU

QDWXUD VWRFXULORU L D FUHDQ HORU QHILQDQ DWH SH VHDPD REOLJD LLORU SH WHUPHQ WHUPHQ

FHORU

ID

GH

IXUQL]RUL

VDODULD L DWUDV

EXJH

tul de stat etc.

SkQ

vQ

PRPHQWXO

SO

LL

ORU

UHSUH]LQW

R VXUV

GH ILQDQ DUH D DFWLYHORU FLUFXODQWH QHYRLD GH IRQG GH UXOPHQW VH GHWHUPLQ

b) Pe baza astfel:

ELODQ XOXL IXQF LRQDO

NFR = Nevoi ciclice Resurse ciclice n acest caz, nevoia NFR NFRE
= =
GH IRQG GH UXOPHQW HVWH IRUPDW GLQ SDUWHD SHQWUX H[SORDWDUH 1)5( L FHD vQ DIDUD H[SORDW ULL 1)5$(

NFRE + NFRAE
$FWLYH FLFOLFH DIHUHQWH H[SORDW ULL H[SORDW ULL $FWLYH FLFOLFH GLQ DIDUD

Surse ciclice aferente Surse ciclice din afara

GH

NFRAE =

H[SORDW ULL

H[SORDW ULL 0 ULPHD QHYRL GH IRQG GH UXOPHQW GLQ H[SORDWDUH HVWH LQIOXHQ DW QDWXUD DFWLYLW 'DF IL XQ QRUPDO GHFDODM FUHDQ HORU QLYHOXO GH DFWLYLWDWH QXPDL GDF HVWH

LL GXUDWD FLFOXOXL GH IDEULFD LH YLWH]D GH URWD LH D VWRFXULORU L

etc.
D UH]XOWDWXO XQHL SROLWLFL GH LQYHVWL LL L SULYLQG L

QHYRLD GH IRQG GH UXOPHQW HVWH SR]LWLY  VLWXD LD VH FRQVLGHU

FUHWHUHD QHYRLL GH ILQDQ DUH D FLFOXOXL GH H[SORDWDUH $OWIHO DFHDVWD UHIOHFW QHIDYRUDELO vQWUH OLFKLGLWDWHD VWRFXULORU FUHDQ HORU

exigibilitatea datoriilor de exploatare. 'DF GLPSRWULY , QHYRLD GH IRQG

VHPQLILF VLWXD LD ILLQG IDYRUDELO VLWXD LD HVWH QHJDWLY GRDU GDF

GH UXOPHQW HVWH QHJDWLY

, aceasta

XQ VXUSOXV GH UHVXUVH WHPSRUDUH FRPSDUDWLY FX QHYRLOH WHPSRUDUH HVWH UH]XOWDWXO DFFHOHU ULL URWD LHL DFWLYHORU GH vQWUHUXSHUL WHPSRUDUH vQ

FLUFXODQWH L DOH DQJDM ULL GH GDWRULL FX VFDGHQ H PDL PDUL Q FD] FRQWUDU GHRDUHFH HVWH GHWHUPLQDW DSURYL]LRQDUHD L UHvQQRLUHD VWRFXULORU VDX vQ DFWLYLWDWHD GH SURGXF LH H[SULP FRUHOD LD GLQWUH IRQGXO GH UXOPHQW L QHYRLD D ILUPHL DWkW SH WHUPHQ

TrezoUHULD QHW

GH IRQG GH UXOPHQW UHIOHFWkQG VLWXD LD ILQDQFLDU PHGLX L OXQJ FkW L SH WHUPHQ VFXUW

a) Pe baza

ELODQ XOXL SDWULPRQLDO

(financiar),

DFHDVWD VH FDOFXOHD]

FX

XUP WRDUHD IRUPXO 

TN = FR - NFR

b) sau

7UH]RUHULD QHW

VH SRDWH FDOFXOD SH ED]D ELODQ XOXL IXQF LRQDO

astfel:

TN = FRNG NFR TN = TA TP TA = trezoreria de activ, respectiv soldurile debitoare ale conturilor de

GLVSRQLELOLW L L SODVDPHQWH

TP = trezoreria de pasiv, respectiv soldurile creditoare ale conturilor de credite pe termen scurt.
7UH]RUHULD H[HUFL LXOXL HFRQRPLF UXOPHQW QHW L SR]LWLY GDF VHPQLILF

un excedent monetar al
vQ FDGUXO D PDL PXOWRU LORU R UHQWDELOLWDWH UHQWDELOH  'DF SR]LWLY GLVSRQLELOLW

ILQDQFLDU ULGLFDW L

DFH VWD

VH

PHQ LQH

H[HUFL LL ILQDQFLDUH VXFFHVLYH DFHDVW SRVLELOLWDWHD

VLWXD LH GHPRQVWUHD] SODV ULL

E QHWL SHQWUX vQW ULUHD SR]L LHL ILUPHL SH SLD

QHYRLD GH IRQG GH

, DWXQFL WUH]RUHULD QHW profitului net, diminuat cu dividendHOH SO WLWH vQ care se adun amortizarea.
'DF vQ FDOFXOXO QHYRLL IRQGXOXL GH

HVWH

FRQVWDQW

este echivalentul
QX V

FXUVXO DFHOHDL SHULRDGH OD UXOPHQW

-au luat n
UHIOHFW XQ

considerare creGLWHOH

SH WHUPHQ VFXUW WUH]RUHULD QHW

QHJDWLY

GHILFLW PRQHWDU UHVSHFWLY XQ GH]HFKLOLEUX ILQDQFLDU OD VIkULWXO DQXOXL D IRVW DFRSHULW SH VHDPD FUHGLWHORU SH WHUPHQ VFXUW 'DF UXOPHQW HVWH FRQVWDQW  WUH]RUHULD QHW QHJDWLY L GH

, L FDUH

QHYRLD GH IRQG GH SURGXVH GDU UHQWDELOH R LL

HVWH HIHFWXO vQUHJLVWU ULL GH vQUHJLVWUHD]

pierderi. TotuL,
GLVSXQH FUHWHUH ILQDQFLDU GH D SLD QHYRLL

DWXQFL GH GH

FkQG GH

vQWUHSULQGHUHD UXOPHQW

UHDOL]HD]

DSURYL]LRQDUH IRQG

GHVIDFHUH D

FD XUPDUH

GH]YROW ULL DFWLYLW

H[LVWHQ D XQHL WUH]RUHULL QHWH QHJDWLYH QX VHPQLILF WUDQVIRUPDUH D VWRFXULORU L FUHDQ HORU vQ OLFKLGLW

R VLWXDWLH HFRQRPLFR L L GXUDWD PHGLH

QHIDYRUDELO  FL vQUHJLVWUDUHD XQXL GHFDODM vQWUH WHUPHQXO PHGLX GH GH

RQRUDUH D REOLJD LLORU SH WHUPHQ VFXUW

Exemplu: Pe baza datelor din BILAN 3$75,021,$/ ),1$1&,$5 NCHEIAT LA 31.12 anul N (tabelul nr. 5.3 UH]XOW XUP WRDUHOH Determinarea FR, NFR SI TN: FR = Capitaluri permanente Nevoi permanente = 147.710 98.473 = = 49.237 mil. lei

sau: FR = Nevoi temporare Resurse temporare = 136.557 87.320 = = 49.237 mil. lei FRp = Capitaluri proprii Nevoi permanente = ( 112.910 + 4.200 ) 98.473 = 18.637 mil. lei FRi = FR FRp = Datoriile pe termen mediu si lung = 30.600 mil. lei NFR = (Nevoi temporare 'LVSRQLE E QHWL L SODVDPHQte) (Resurse temporare Credite curente) = (136.557 12.400) (87.320 14.000) = 50.837 mil. lei TN = FR NFR = 49.237 50.837 = 1.600 mil. lei Fondul de rulment SR]LWLY  PLO OHL capitalurilor permanente n raport FX LPRELOL] ULOH SH
DVHPHQHD ILUPD GLVSXQH L GH XQ LQGLF 3DUWHD IDSWXO F DFWLYHORU LPRELOL] ULOH FLUFXODQWH H[FHGHQW FH YD IL XWLOL]DW SHQWUX ILQDQ DUHD FDUH OH ILQDQ HD]  FLUFXODQWH 'H LQGLF H[FHGHQWXO

DFWLYHORU

nevoii de fond de rulment SR]LWLY  PLO OHL nevoie de fond de rulment SR]LWLY UHIOHFW GHFDODMXO QHIDYRUDELLO $FHDVW dintre lichiditatea stocurLORU L FUHDQ HORU SH GH R SDUWH  PLO OHL, L exigibilitatea datoriilor pe termen scurt (73.320 mil. lei) pe de alt parte. 'DU VH REVHUY F fondul de rulment este mai mic dect nevoia de fond de rulment, deci se nregistreaz o trezorerie net QHJDWLY FDUH LQGLF
XQ GHILFLW PRQHWDU OD VIkULWXOXL DQXOXL GHFL R VLWXD LH GH GH]HFKLOLEUX

UHJ VHWH VXE IRUPD

QHILQDQ DW

fond de rulment propriu pozitiv, ceea ce VXQW ILQDQ DWH LQWHJUDO GH FDSLWDOXULOH proprii.
GH GDWRULLOH SH WHUPHQ VFXUW

VH

financiar. 5.2.4 Analiza structurii patrimoniale a ntreprinderii

HYROX LHL SRQGHULL GLIHULWHORU HOHPHQWH SDWULPRQLDOH GH DFWLY L GH SDVLY 5DWHOH GH VWUXFWXU SURFHQWH L SHUPLWH SDWULPRQLDO LGHQWLILFDUHD RIHU FDUDFWHULVWLFLORU SRVLELOLWDWHD H[SULP ULL ELODQ XOXL vQ PDMRUH DOH VWUXFWXULL $QDOL]D VWUXFWXULL SDWULPRQLDOH DUH FD RELHFWLY VWDELOLUHD L XUP ULUHD

ELODQ XOXL RIHULQG GH DVHPHQHD SRVLELOLWDWHD UHDOL] ULL GH DQDOL]H FRPSDUDWLYH vQ WLPS L VSD LX

5.2.4.1 Ratele privind structura activului Ratele de structur a activului, ca valoare, sunt influen ate de caracteristicele tehnice, economice i juridice ale activit ii firmei.

Principalele rate de caracterizare a structurii activului sunt: a) Rata activelor imobilizate:

Active imobilizate 100 Total activ
$FHDVW UDW UHIOHFW SRQGHUHD DFWLYHORU LPRELOL]DWH vQ SDWULPRQLXO MXVWLILF

total al ntreprinderii. Diferitele elemente de active imobilizate utilizarea unor rate complementare: a.1) RDWD LPRELOL]
I
0 ULPHD ULORU QHFRUSRUDOH

!

"$#%&" '"( %

Total activ
DFHVWXL

100
UHIOHFW SRQGHUHD DFWLYHORU LQWDQJLELOH

LQGLFDWRU

EUHYHWH OLFHQ H P UFL IRQG FRPHUFLDO vQ DOWH

etc.) n activele totale ale firmei. n

FD]XO ILUPHORU URPkQHWL  YDORDUHD DFHVWHL UDWH HVWH IRDUWH UHGXV  vQ WLPS FH UL FXP DU IL 68$ SRQGHUHD DFWLYHORU QHFRUSRUDOH GHSDVHWH 

din valoarea de nlocuire a firmelor. a.2) RDWD LPRELOL]

ULORU

corporale:

I  ! "&")'"( % Total activ

$FHDVW UDW UHIOHFW

100

SRQGHUHD FDSLWDOXULORU IL[H vQ SDWULPRQLXO WRWDO LL L GH FDUDFWHULVWLFLOH

DO ILUPHL L YDORDUHD HL GHSLQGH GH VSHFLILFXO DFWLYLW

tehnice ale ntreprinderii, nregistrnG YDORUL GLIHULWH GH OD R UDPXU OD DOWD Astfel, aceasta are valori foarte mari n cazul firmelor care folosesc o
LQIUDVWUXFWXU GLVWULEX LD GH LPSRUWDQW HQHUJLH VDX HFKLSDPHQWH FRVWLVLWRDUH SURGXFHUHD L WUDQVSRUWXUL F

etc.), industria grea sau exploata LLOH

vQWUHSULQGHUL FRPSDUDELOH DFH VW

agricole.
6SHFLDOLWLL UDW VHPQLILF VH IRDUWH ELQH F DSUHFLD] SHQWUX

FDSDFLWDWHD ILUPHL GH D UH]LVWD XQHL FUL]H HFRQRPLFH WLLQGX R LPRELOL]DUH ULGLFDW D FDSLWDOXOXL DWUDJH GXS L ULL DFHVWRUD vQ OLFKLGLW

VLQH XQ ULVF

mare al netransIRUP

a.3) RDWD LPRELOL]

ULORU ILQDQFLDUH

I*  ! "+,  #-(#& ("% Total activ

100

Aceasta UHIOHFW LQWHQVLWDWHD OHJ WXULORU L UHOD LLORU ILQDQFLDUH SH FDUH OH-a stabilit cu alte firme cu ocazia operD LLORU GH FUHWHUH H[WHUQH SDUWLFLSD LL LQYHVWL LL GH SRUWRIROLX FUHGLWH DFRUGDWH etc.). $FHDVW UDW DUH YDORUL PDUL vQ FD]XO VRFLHW LORU GH LQYHVWL LL ILQanFLDUH VRFLHW L GH valori mobiliare, fonduri mutuale etc.. $FHDVWD vQUHJLVWUHD] YDORUL VF ]ute
ILUPD UHVSHFWLY vQ FD]XO ILUPHORU PLFL FDUH QX SRW HIHFWXD LQYHVWL LL ILQDQFLDUH

a.4) Rata activelor circulante:

Active circulante Total activ
$FHDVW UDW UHIOHFW

100
SRQGHUHD DFWLYHORU FLUFXODQWH vQ WRWDOXO

mijloacelor economice ale ntreprinderii. Ca rate complementare, se

UHFRPDQG D IL XWLOL]DWH

a.4.1) Rata stocurilor:

Stocuri Total activ
$FHVW LQGLFDWRU

100
vQUHJLVWUHD] YDORUL PDUL vQ FD]XO ILUPHORU FX

DFWLYLWDWH GH SURGXF LH FX FLFOX OXQJ GH IDEULFD LH SUHFXP L D

acelor firme

cX VSHFLILF GH GLVWULEX LH GH EXQXUL PDWHULDOH a.4.2) RDWD FUHDQ

./  %#
HORU FRPHUFLDOH

0&#21 34"+(5  (1 %

Total activ

100
GH QDWXUD FOLHQ LORU L GH

5DWD FUHDQ HORU FRPHUFLDOH HVWH LQIOXHQ DW WHUPHQXO GH SODW SH FDUH ILUPD vO DFRUG LORU E

SDUWHQHULORU V L QHWL L D

a.4.3) RDWD GLVSRQLELOLW

67 5+'#   1 2

plasamentelor:

#%0+1 48*9: 1 34";2%<'4 (5(=%#41

Total activ
$SUHFLHUHD GLVSRQLELOLW Q DFHODL DFHVWHL UDWH WUHEXLH I FXW

100
FX SUHFDX

ie deoarece
L L

LOH SRW VXIHUL PRGLILF UL vQVHPQDWH SH SHULRDGH VFXUWH GH WLPS WLPS WUHEXLH DYXW vQ YHGHUH UDSRUWXO GLQWUH GLVSRQLELOLW

SODVDPHQWH SUHFXP L GHVWLQD LD SODVDPHQWHORU

5.2.4.2 Ratele privind structura pasivului

3ULQFLSDOHOH UDWH GH VWUXFWXU D SDVLYXOXL ELODQ XOXL XWLOL]DWH VXQW ULL

a)

RDWD VWDELOLW

LL ILQDQ

Capital permanent Total pasiv

$FHDVW UHIOHFW UDW HVWH XQ

100
LQGLFDWRU JOREDO DO VWDELOLW LL ILQDQ ULL L

SRQGHUHD VXUVHORU SH FDUH OH DUH vQWUHSULQGHUHD SHQWUX R SHULRDG

mai mare de un an, n totalul surselor de acoperire a mijloacelor economice. b) Rata autonomiei financiare:
Capital propriu

Capital permanent

100
VHPQLILF SRQGHUHD VXUVH L

Rata autonomiei financiare

IXQF LH GH SROLWLFD ILQDQFLDU D

ILQDQ DUHD PLMORDFHORU HFRQRPLFH DOH ILUPHL L vQUHJLVWUHD] vQWUHSULQGHULL

lor proprii n valori diferite n

HL 6H

UHQWDELOLWDWHD

recomanG

FD YDORDUHD DFHVWHLD V

ILH

> .

c) Rata datoriilor pe termen scurt:

Datorii pe termen scurt Total pasiv
$FHDVW UDW VHPQLILF

100

SRQGHUHD GDWRULLORU FX WHUPHQ GH H[LJLELOLWDWH

mai mic de un an n totalul surselor ntreprinderii. d) Rata datoriilor totale:

Datorii totale Total pasiv

100
GDWRULLORU SH WHUPHQ OXQJ PHGLX L

AceaVW UDW UHIOHFW SRQGHUHD scurt n patrimoniul ntreprinderii.

Exemplu: Lund n considerare datele din tabelul 5.5 BILAN CONTABIL AL NTREPRINDERII A, V VH FDOFXOH]H L V VH LQWHUSUHWH]H UDWHOH GH
VWUXFWXU DOH DFWLYXOXL L SDVLYXOXL VRFLHW LL FRPHUFLDOH UHVSHFWLYH

Tabelul 5.5
%,/$1 &217$%,/ $/ 175(35,1'(5,,

ACTIV
,PRELOL] UL

N 9550 574200 730

N-1 9984 526400 730

PASIV Capital social Rezerve Provizioane reglementate Rezultatul

H[HUFL LXOXL

N 300000 97500 42000 55670 495170 394850 4225

N-1 300000 49200 22750 25425 397375 354500 3750

necorporale
,PRELOL] UL

corporale
,PRELOL] UL

financiare

ACTIVE IMOBILIZATE Stocuri

&OLHQ L $OWH FUHDQ H

584480 301640 70120 9050 41875

537114 309500 120000 25480

CAPITAL PROPRIU Datorii financiare (scaden > 1 an) AvaQVXUL L aconturi primite
)XUQL]RUL L

Valori mobiliare de plasament

'LVSRQLELOLW L

43620

conturi asimilate Alte datorii pe termen scurt TOTAL DATORII TOTAL PASIV

25840

95289

12500 435185 1019665

24700 523300 1060414

99580 524495 1019665

209500 663039 1060414

ACTIVE CIRCULANTE TOTAL ACTIV

FD]XO

vQWUHSULQGHULL DVWIHO

DQDOL]DWH

UDWH

GH

VWUXFWXU

DFWLYXOXL

SDVLYXOXL VH SUH]LQW

5$7( '( 6758&785

1. Rata activelor imobilizate  5DWD LPRELOL] ULORU necorporale 3. 5DWD LPRELOL] ULORU corporale 4. 5DWD LPRELOL] ULORU ILnanciare 5. Rata activelor circulante 6. Rata stocurilor de materii prime, materiale etc. 7. 5DWD FUHDQ HORU 8. 5DWD GLVSRQLELOLW LORU E QHWL L SODsamentelor 9. 5DWD VWDELOLW LL ILQDQFLDUH 10. Rata autonomiei financiare 11. Rata datoriilor pe termen scurt 12. Rata datoriilor totale

N-1 57,32 0,94 56,31 0,07 42,68 29,58 7,76 5,33 87,29 55,64 12,71 51,44
DSDU LQH VIHUHL

Tabelul 5.6 = mii lei = N 50,65 0,94 49,64 0,07 50,65 29,19 13,72 6,44 70,90 52,85 29,10 62,53
SURGXFWLYH

Concluzii:
UHVSHFWLY

5H]XOW

vQWUHSULQGHUHD

XQXL VHFWRU FDUH QHFHVLW R GRWDUH WHKQLF VHPQLILFDWLY , fapt reflectat de ponderea mare a activelor imobilizate n total activ n ambele SHULRDGH DQDOL]DWH 5DWD LPRELOL] ULORU FRUSRUDOH HVWH IRDUWH DSURSLDW GH FHD

a activelor imobilizate,
L QHFRUSRUDOH VHPQLILF

FHHD FH GHPRVWUHD]

SUHSRQGHUHQ D DFHVWXL HOHPH

nt

vQ WRWDOXO LPRELOL] ULORU 9DORDUHD UHGXV

D UDWHORU LPRELOL] ULORU ILQDQFLDUH

R DFWLYLWDWH GH LQYHVWL LL ILQDQFLDUH UHVWU QV

L GH

asemenea, R SRQGHUH PLF

FUHWH vQ XUP WRUXO DQ SkQ

D DFWLYH

$FWLYHOH FLUFXODQWH GH LQ

lor intangibile n total activ. R SRndere de 42,68% n primul an, care

 $FHDVW PDMRUDUH D UDWHL

OD YDORDUHD GH 

activelor circulante s-D UHDOL]DW SUHSRQGHUHQW SH VHDPD FUHDQ HORU, DO F URU indice a fost de 183,76%. $FHVW VLWXD LH SRDWH IL GHWHUPLQDW GH FUHWHUHD
YROXPXOXL GH DFWLYLWDWH FOLHQ L GH DFRUGDUHD L GH XQRU WHUPHQH XQRU GH SODW LQFHUWH PDL 6H FRPIRUWDELOH UHFRPDQG SHQWUX

GDU

DSDUL LD

FUHDQ H

DVWIHO FRPSOHWDUHD DFHVWHL

DQDOL]H

FX

LQIRUPD LL UHIHULW

oare la

YROXPXO GH DFWLYLWDWH L OD VWUXFWXUD FUHDQ HORU GXS UHDOL] ULL DFHVWRUD L WHUPHQXO GH UHDOL]DUH 'LQ SXQFW GH YHGHUH DO UDWHORU GH VWUXFWXU SUH]LQW R VWDELOLWDWH ILQDQFLDU ULGLFDW GDU

QDWXUD ORU FHUWLWXGLQHD

D SDVLYXOXL vQWUHSULQGHUHD V

FDUH

-a degradat n timp



vQ DQXO 1 ID

de 87,29% n anul N-1). De asemenea, firma dispune asta scade semnificativ, apropiinduent), ca urmare a

GH DXWRQRPLH ILQDQFLDU  SRQGHUHD FDSLWDOXOXL SURSULX vQ FDSLWDOXO SHUPDQHQW

fiind de 

 GDU vQ DQXO XUP WRU DFH DGPLV 

VH GH OLPLWD PLQLP

GLQ FDSLWDOXO SHUPDQ

VF GHULL FDSLWDOXOXL SURSULX

GHFL D FUHWHULL GDWRULLORU SH WHUPHQ PHGLX L

OXQJ 5DWD GDWRULLORU WRWDOH D FUHVFXW VLP LWRU SH VHDPD REOLJD LLORU SH WHUPHQ

scurt, FHHD FH D P
'HL vQUHJLVWUHD]

ULW JUD

dul de ndatorare a firmei.

GH VWDELOLWDWH L DXWRQRPLH ILQDQFLDU  VH

ILUPD

GLVSXQH

WRWXL R GHWHULRUDUH D VLWXD LHL ILQDQFLDUH vQ DQXO 1 FRPSDUDWLY

cu anul N-1, ceea impune o reorientare a politicii financiare pe perioada

XUP WRDUH

 $QDOL]D FRUHOD LHL GLQWUH FUHDQ H L REOLJD LL UHIOHFW DQJDMDPHQWH FRQWUDFWDWH GH DQXPL L SDUWHQHUL DL DOH F URU WHUPHQH GH SODW SUHFXP SXQFW L DX R VFDGHQ ILUPHL vQ XOWHULRDU FDOLWDWH GH GHELWRULL YHGHUH FUHDQ H

CUHDQ HOH
OLYU ULL EXQXULORU DIHUHQW GLQ

ILUPHL FXP VXQW FOLHQ LL L

VHUYLFLLORU 'LQ

beneficiari ai unor mprumuturi pe care le vor rambursa ulterior mpreun cu

GREkQGD IRUPDWH DFHVWRUD GH FRQWDELO SULYLQG FUHDQ HOH VXQW L FOLHQ L IXUQL]RUL GHELWRUL

SHUVRQDOXO

DVLJXU ULOH VRFLDOH DOWH FUHDQ H SULYLQG VWDWXO L LQVWLWX LLOH SXEO

ice, debitori
VXUVH

diversi etc.
2EOLJD LLOH GDWRULLOH QHILQDQFLDUH SH WHUPHQ VFXUW UHSUH]LQW GH ILQDQ DUH DWUDVH SH R GXUDW PDL PLF GH  DQ H[FOX

znd creditele
FDUH

EDQFDUH $FHVWHD FRQ LQ GDWRULLOH F WUH IXUQL]RUL SHUVRQDO VWDW DF LRQDUL

avansuri de OD FOLHQ L etc.

&UHDQ HOH LQIOXHQ HD] L REOLJD LLOH E QHWL FRQVWLWXLH SULQFLSDOHOH Q HOHPHQWH  IOX[XULOH DOH vQWUHSULQGHULL FRQVHFLQ DFHVWHD WUHEXLH DQDOL]DWH FRUHODW GLQ SXQFW GH YHGHUH DO VXPHORU L DO WHUPHQHORU GH vQFDVDUH L GH SODW  ,QGLFDWRULL XWLOL]D L vQ DFHVW VFRS VXQW  'XUDWD GH LPRELOL]DUH D FUHDQ HORU 'L

Di = unde:
6G 5G

Sd 360 Rd
; .

VROGXO PHGLX DO FUHDQ HORU

UXODMXO GHELWRU DO FRQWXULORU GH FUHDQ H

Q SUDFWLF QX IXUQL]HD]

VH XWLOL]HD]  GH UHJXO  FLIUD GH DIDFHUL GHRDUHFH ELODQ XO

LQIRUPD LL UHIHULWRDUH OD UXODMXO FRQWXULORU UHVSHFWLYH

1. Durata de folosire a surselor atrase (Df): Df = unde:

6F VROGXO PHGLX DO FRQWXULORU GH REOLJD LL

Sc 360 Rc

Rc = rulajul creditor al conturilor respective.

&RUHOD LD GLQWUH VXPD FUHDQ HORU L D REOLJD LLORU SH WHUPHQ VFXUW SUHFXP L GLQWUH 'L L 'I JHQHUHD] VDX QHJDWLY GLVSRQLELOLW LOH ILUPHL 'DF 'DF SO ([LVW 6G 6F L 'L IOX[XUL E QHWL FDUH LQIOXHQ HD] SR]LWLY

Astfel: e vedere
L HVWH VXPHL 'I DWXQFL IOX[XO GH GLVSRQLELOLW

a) b)

'I  DWXQFL FHO SX LQ GLQ SXQFW G

WHRUHWLF VH SURGXFH R FRPSHQVDUH vQWUH FUHDQ H L REOLJD LL 6G ! 6F L 'L LQIOXHQ DW SR]LWLY GHRDUHFH VXPD vQFDV ULORU HVWH VXSHULRDU LORU SHQWUX DFHODL LQWHUYDO GH WLPS ELQHvQ HOHV L PXOWH DOWH YDULDQWH vQ IXQF LH GH FHL  LQGLFDWRUL GLQWUH FUHDQ H L REOLJD LL SRDWH IL VWXGLDW L SH ED]D

&RUHOD LD

EDODQ HL DFHVWRUD vQ IXQF LH GH WHUPHQHOH ORU GH YHFKLPH L GH SRQGHUHD DFHVWRUD vQ FDGUXO WRWDOXO FUHDQ HORU L D REOLJD LLORU

, astfel:

- Sub 30 zile - 30 - 60 zile - 60 - 90 zile - 90 - 180 zile - 180 - 270 zile - 270 - 1 an.
Q SUDFWLF VH IRORVHVF LQWHUYDOH GH YHFKLPH PXOW PDL PDUL SkQ OD

90 zile, ntre 90 ]LOH L XQ DQ SHVWH XQ DQ Exemplu:

6H G XUP WRDUHD VLWXD LH D FUHDQ HORU L D REOLJD LLORU ILUPHL $

Tabelul 5.7

Nr. Crt. 1. 2. 3. 4.

Indicatori Cifra de afaceri

&UHDQ H 2EOLJD LL 5DSRUWXO FUHDQ HREOLJD LL

N-2 mil lei % 7.450 100 524 100 1.045 100 0,50 100

Perioada N-1 mil lei % 7.846 105,3 679 129,6 1.274 121,9 0,53 X

N mil.lei 7.980 975 1.527 0,64 % 101,7 143,6 119,9 X

n perioada celor tUHL ntr-XQ

IOX[XO GH GLVSRQLELOLW

DQL DQDOL]D L FUHDQ HOH L REOLJD LLOH DX FUHVFXW QHJDWLY LQIOXHQW HVWH SDU LDO GLPLQXDW GH UDSRUWXO

ULWP VXSHULRU FHOXL DO FLIUHL GH DIDFHUL FHHD FH LQIOXHQ HD] L $FHDVW

GLQWUH FUHDQ H L REOLJD LL UDSRUW FDUH GHL DUH R GLQDPLF VXEXQLWDU FHHD FH LQGLF

FUHVF WRDUH HO HVWH

R PDMRUDUH D JUDGXOXL GH LPRELOL]DUH D FDSLWDOXOXL D FUHDQ HORU 'L L GXUDWD GH IRORVLUH D

firmei. Durata
GH LPRELOL]DUH VXUVHORU DWUDVH VH SUH]LQW DVWIHO

Tabelul 5.8

Nr.crt. Indicatori 1. 'XUDWD GH LPRELOL]DUH D FUHDQ HORU 2. Durata de folosire a surselor atrase
DQWHULRU DGLF LPRELOL]DUHD

N2 25,3 50,5

N1 31,2 58,5

= zile = N 44 191,4

1LYHOXO L HYROX LD DFHVWRU GRL LQGLFDWRUL FRQILUP IDSWXO F  GHL FUHDQ HOH vQUHJLVWUHD] IRQGXOXL GH UXOPHQW HVWH VXSOLQLW

FRQFOX]LD VWDELOLW GH VXUVHOH DWUDVH

FUHWHUL VXEVWDQ LDOH

suplimentar.
'LQ SXQFW GH YHGHUH DO JUDGXOXL GH YHFKLPH VLWXD LD FUHDQ HORU L D REOLJD LLORU vQ DQXO 1 VH SUH]LQW DVWIHO

Tabelul 5.9

Nr. Crt. 1. 2. 3.
5H]XOW

6SHFLILFD 3kQ

ie

&UHDQ H

2EOLJD LL

OD  GH ]LOH

QWUH  ]LOH L  DQ

Peste 1 an Total
F SRQGHUHD LORU FHD PDL

mil.lei 754 193 27 974

PDUH R

% 75,4 19,8 2,8 100

GH LQ FUHDQ HOH R IUHFYHQ

mil.lei 1.022 395 110 1.527

L

% 66,9 25,9 7,2 100

FX R

REOLJD LLOH

YHFKLPH GH SkQ vQFDV ULORU L SO

OD  ]LOH FHHD FH DVLJXU

FRUHVSXQ] WRDUH D

 $QDOL]D OLFKLGLW

LL L VROYDELOLW

LL ILUPHL

Lichiditatea UHSUH]LQW SURSULHWDWHD HOHPHQWHORU SDWULPRQLDOH GH D VH transforma n bani. Solvabilitatea este capacitatea ntreprinderii de a-L RQRUD REOLJD LLOH
GH SODW OD VFDGHQ 

&DSDFLWDWHD H[SULP SHULRDG FDSDFLWDWHD VFXUW GH

GH

SODW GH

VHPQLILF EDQHWL RELFHL

VROYDELOLWDWHD OD XQ OD SkQ  GH

LPHGLDW  GDW VDX ]LOH

UHVSHFWLY SHQWUX R

PLMORDFHORU WLPS

PRPHQW

, de a acoperi
SDVLYHOH SH

REOLJD LLOH VFDGHQWH SHQWUX DFHODL LQWHUYDO GH WLPS

Pentru caracterizarea

OLFKLGLW

LL

unei firme

VH FRPSDU

WHUPHQ VFXUW FX UHVXUVHOH GLVSRQLELOH SHQWUX DFHHDL SHULRDG 

Cele mai utilizate rate de lichiditate sunt: 1.

5DWD OLFKLGLW LL JHQHUDOH

Active circulante Lg = Datorii curente

'DWRULLOH FXUHQWH VXQW IRUPDWH GLQ REOLJD LLOH ID ILVFDOH L VDODULDOH FUHGLWHOH SH WHUPHQ VFXUW vPSUXPXWXULOH SH WHUPHQ PHGLX L OXQJ D F URU VFDGHQ H[HUFL LXOXL ILQDQFLDU FXUHQW 6H DSUHFLD] GXS F VLWXD LD OLFKLGLW LL JHQHUDOH HVWH VDWLVI F WRDUH GXS XQHOH VXUVH vQ FRQGL LLOH vQFDGU ULL DOWHOH vQ LQWHUYDOXO  VL  5DWD OLFKLGLW LL FXUHQWH GH IXU L

nizori, cele
SDUWHD GLQ

SUHFXP

HVWH vQ FDGUXO

acestei rate n intervalul 1,2 si 1,8, iar (intermediare):

2.

Lc =

Active circulante Stocuri Datorii curente

DFHDVW UDW UDW HVWH FXQRVFXW L VXE UDW HVWH GH RELFHL VXEXQLWDU  ,QWHUYDOXO HVWH GH 

Potrivit teoriei nord-amHULFDQH

GHQXPLUHD GH WHVWXO DFLG $FHDVW FRQVLGHUDW FD VDWLVI F WRU SHQWUX DFHDVW 5DWD OLFKLGLW LL LPHGLDWH

-1.

3.

Li =

'LVSRQLELOLW

L L SODVDPHQWH

Datorii curente
LPHGLDWH XQHL LL GDF

Q WHRULD HFRQRPLF UDWD VROYDELOLW IL LL JULM  $VWIHO XQ QLYHO

, DFHDVW UDW HVWH FXQRVFXW L VXE GHQXPLUHD GH Interpretarea acesteia WUHEXLH I FXW FX PDUH ULGLFDW DO DFHVWHLD LQGLF o solvabilitate mare, dar
XWLOL] UL PDL SX LQ SHUIRUPDQWH D UHVXUVHORU D DFHVWHL UDWH QX FRQVWLWXLH vQ DFHODL WLPS R UHVWXO DFWLYHORU FLUFXODQWH DX XQ JUDG UHGXV GH

poatH

FRQVHFLQ D

GLVSRQLELOH 9DORDUHD ULGLFDW JDUDQ LH D VROYDELOLW

lichiditate.

'LQ FRPSDWLELO PLQLPL]HD]

FRQWU  FX

YDORDUH

UHGXV

OLFKLGLW ILQDQFLDU

LL

LPHGLDWH GDF

SRDWH

IL

PHQ LQHUHD

HFKLOLEUXOXL

vQWUHSULQGHUHD

YDORDUHD GLVSRQLELOLW LORU VDOH GH LQkQG vQ VFKLPE, valori de plasament, creante, stocuri cu un grad mare de lichiditate etc. Solvabilitatea se poate exprima cu ajutorul mai multor indicatori, GLQWUH FDUH FHL PDL LPSRUWDQ L VXQW

1. RatD VROYDELOLW
Sp =

LL SDWULPRQLDOH

Capital propriu Capital propriu + credite totale

D UDWHL VROYDELOLW LL SDWULPRQLDOH VH DSUHFLD] F

9DORDUHD PLQLP WUHEXLH V FRQVLGHUDW QRUPDO  5DWD VROYDELOLW

VH vQFDGUH]H vQ OLPLWHOH   LDU SHVWH  VLWXD LD SRDWH IL

2.

LL JHQHUDOH

Sg =
$FHDVW F WUH DFWLYHOH UDW

Active totale Datorii totale

LQGLF DOH vQ FH P VXU vQWUHSULQGHULL GDWRULLOH WRWDO DFWLYH

e sunt acoperite de
L DFWLYH

WRWDOH

LPRELOL]DWH

FLUFXODQWH &X FkW YDORDUHD UDWHL VROYDELOLW  FX DWkW VLWXD LD ILQDQFLDU

LL JHQHUDOH HVWH PDL PDUH GHFkW

GH DQVDPEOX D ILUPHL HVWH PDL EXQ 

Pe baza datelor din Tabelul 5.5, BILAN CONTABIL AL NTREPRINDERII A, VH RE LQ XUP WRDUHOH YDORUL DOH UDWHORU GH OLFKLGLWDWH
L VROYDELOLWDWH

Indicatori Rata lichidit ii generale Rata lichidit ii curente ( intermediare ) Rata lichidit ii imediate Rata solvabilit ii patrimoniale Rata solvabilit ii generale
Q DPEHOH SHULRDGH

N-1 3,36 1,03 0,42 1,25 1,94

Tabelul 5.10 N 1,7 0,69 0,22 1,12 1,6

vQ OLPLWHOH

QLYHOXO DFHVWRU UDWH VH vQFDGUHD]

considerate normale, FRQIRUP VWDQGDUGHORU LQWHUQD LRQDOH &D WHQGLQ , se nrHJLVWUHD] R GLPLQXDUH D WXWXURU LQGLFDWRULORU FHOH PDL DFFHQWXDWH ILQG FHOH DOH OLFKLGLW LL FXUHQWH L JHQHUDOH FDUH vQ DQXO 1- FRERDU FKLDU VXE limita admis  'HL VLWXD LD vQWUHSULQGHULL QX HVWH DODUPDQW  WUHEXLH
DGRSWDWH VROYDELOLW P VXUL SHQWUX PHQ LQHUHD L FKLDU FUHWHUHD OLFKLGLW LL L LL DFHVWHLD vQ SHULRDGHOH XUP WRDUH

5.2.7 Analiza echilibrului economico-financiar

(FKLOLEUXO ILQDQFLDU DO ILUPHL UHSUH]LQW FDUH VH VWDELOHVF DQXPLWH SURSRU LRQDOLW UHSUH]LQW R SUHPLV XQ VLVWHP GH FRUHOD LL L R FRQVHFLQ D

, prin
XQHL

L vQ FDGUXO L vQWUH GLIHULWHOH IOX[XUL GDU

financiare. Acestea
QHFHVLW

GHVI XU UL QRUPDOH D DFWLYLW

LL ILUPHL vQ FRQIRUPLWDWH FX RELHFWXO V

u de

DFWLYLWDWH &D SUHPLV  WUHEXLH DYXWH vQ YHGHUH FRUHOD LLOH RELHFWLYH GLQWUH LOH GH UHVXUVH PDWHULDOH L SRVLELOLW LOH GH ILQDQ DUH 'H PRGXO FXP VXQW XWLOL]DWH L YDORULILFDWH DFHVWH UHVXUVH GHSLQGH DVLJXUDUHD HFKLOLEUXOXL

economico-financiar sau dereglarea acestuia.

3HQWUX H[SULPDUHD H[LVW VLQWHWLF R D PXOWLSOHORU GH FRUHOD LL L

mplicate de
SUDFWLF VH

echiOLEUXO
XWLOL]HD]

ILQDQFLDU

PXOWLWXGLQH

LQGLFDWRUL

vQ VSHFLDO XUP WRULL LQGLFDWRUL

1. Rata autonomiei financiare:

Capital propriu Raf = Capital propriu + Capital mprumutat

2.

5DWD GH ILQDQ DUH D VWRFXUL

lor:

Rfs =

Fond de rulment Stocuri

3.

5DWD GH DXWRILQDQ DUH D DFWLYHORU

Capital propriu Raa = Active fixe + Active circulante

4. Rata datoriilor;
Rd = Datorii totale Active totale

Utilizndu-se datele din Tabelul 5.5, BILAN CONTABIL AL NTREPRINDERII A, HYROX LD LQGLFDWRULORU GH HFKLOLEUX ILQDQFLDU VH
SUH]LQW DVWIHO

Tabelul 5.11

Indicatori Rata autonomiei financiare Rata de finan are a stocurilor Rata de autofinan are a activelor Rata datoriilor

N-1 0,56 1,01 0,49 0,51

N 0,53 0,69 0,37 0,63

La societatea analizat
vQUHJLVWUHD] R UHODWLY

anterior, echilibrul economico-financiar

WRWXL FD L vQ FD]XO LQGLFDWRULORU GH

GHJUDGDUH

OLFKLGLWDWH L VROYDELOLWDWH DFHVWH UDWH VH vQFDGUHD]

n limitele considerate

satisf c toare, ceea demonstreaz

IXQF LRQDUHD FRUHVSXQ] WRDUH D DFHVWHLD

 $QDOL]D YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH

9LWH]D GH URWD LH D DFWLYHORU FLUFXODQWH UHSUH]LQW HILFLHQ FDUH UHIOHFW

XQ LQGLFDWRU GH

VFKLPE ULOH LQWHUYHQLWH vQ DFWLYLWDWHD vQWUHSULQGHULL vQ

special n activitatea de exploatare: modificarea procesului de aprovizionare

L SURGXF LH UHGXFHUHD FRVWXULORU VFXUWDUHD FLFOXOXL GH SURGXF LH L D SHULRDGHL GH GHVIDFHUH L vQFDVDUH D SURGXF LHL etc.). Volumul activelor circulante ale ntreprinderii depindH GH GRL IDFWRUL L DQXPH FLIUD GH DIDFHUL L YLWH]D GH URWD LH D DFWLYHORU FLUFXODQWH &X FkW DFWLYHOH FLUFXODQWH YRU

SDUFXUJH PDL UHSHGH ILHFDUH VWDGLX DO URWD LHL FDSLWDOXOXL FX DWkW YLWH]D GH URWD LH YD IL PDL PDUH  LDU QHFHVDUXO GH IRQG GH UXOPHQW YROXP GDW DO SURGXF LHL UHVSHFWLY DO FLIUHL GH DIDFHUL 9LWH]D GH URWD LH D DFWLYHORU FLUFXODQWH SRDWH IL H[SULPDW 1XP U GH URWD LL vQ

mai mic pentru un :

a)

(n):

n= unde:
$&

CA AC
GLVSRQLELOLW L

VROGXO PHGLX DO DFWLYHORU FLUFXODQWH I U

Acest indicator se poate calcula pentru fiecare element de active circulante utilizndu-VH IRUPXOD GH PDL VXV 7RWXL DFHVWD DUH R SXWHUH
LQIRUPDWLY UHGXV GLQ SXQFW GH YHGHUH DO FRQ LQXWXOXL GHRDUHFH HVWH  R P ULPH DEVWUDFW FDUH QX UHG vQ WHUP

eni FRQFUH L UHDOLWDWHD HFRQRPLF

b) Durata n zile (Dz): Dz = unde:

7 QXP UXO

Ac T CA

de zile ale perioadei analizate.

VFRSXO

LGHQWLILF ULL

DVSHFWHORU

IDYRUDELOH

GDU

PDL

DOHV

FHORU

QHIDYRUDELOH DOH JHVWLRQ ULL UHVXUVHORU VH UHFRPDQG

GHWHUPLQDUHD YLWH]HL GH

URWD LH SH ILHFDUH HOHPHQW DO DFWLYHORU FLUFXODQWH L DO VWDGLXOXL vQ FDUH VH DIO

n cadrul circuitului general, astfel: b.1) 'XUDWD GH URWD

LH D VWRFXULORU GH PDWHULL SULPH L PDWHULDOH

6WRFXO PHGLX GH PDWHULL SULPH L PD

teriale

Cheltuielile cu materialele

E 'XUDWD GH URWD LH D VWRFXULORU GH SURGXF LH vQ FXUV GH H[HFX LH

6WRFXO PHGLX GH SURGXF LH vQ FXUV GH H[HFX LH 3URGXF LD H[HUFL LXOXL H[SULPDW

n costuri (cheltuieli aferente proGX LHL H[HUFL LXOXi)

b.3) 'XUDWD GH URWD

LH D VWRFXULORU GH SURGXVH ILQLWH L VHPLIDEULFDWH

6WRFXO PHGLX GH SURGXVH ILQLWH L VHPLIDEULFDWH

Cheltuielile aferente veniturilor din exploatare

b.4) Durata de rota ie a crean elor (durata de ncasare a crean elor):

Stocul PHGLX DO FUHDQ HORU Veniturilor din exploatare
$QDOL]D IDFWRULDO XUP WRUXOXL PRGHO

T
D YLWH]HL GH URWD LH SUHVXSXQH XWLOL]DUHD

CA
AC Dz = T CA

AC(1) AC AC(2) AC(n)

unde: Dz = viteza de rotatie a activelor circulante n zile; CA = cifra de afaceri; AC = soldul mediu al activelor circulante; AC(1), AC(2),AC(n) = categorii de active circulante (stocuri de materii prime, materiale, produc ie n curs de execu ie, produse finite, crean e etc.)

&RQVHFLQ HOH PDWHULDOL]HD]

DFFHOHU ULL

VDX

vQFHWLQLULL

YLWH]HL

GH

URWD LH

VH

vQ HOLEHU UL VDX LPRELOL] UL GH DFWLYH FLUFXODQWH LQGLFDWRU FH

VH SRDWH FDOFXOD FX DMXWRUXO UHOD LHL

CA1 T Pentru exemplificare se folosesc urm toarele date:

E ( I ) = (Dz1 Dz0)
Tabelul 5.12 = mil lei = Nr. Crt. 1. 2. INDICATORI Cifra de afaceri Soldul mediu al activelor circulante, din care: stocuri FUHDQ H
9LWH]D GH URWD LH  ]LOH 

N-1 53400 11620 6480 5140 78,34

N 61200 13400 7050 6350 78,82

% 114,61 115,32 108,80 123,54 100,61

3.

Model de analiz : Dz =

AC St + Cr T = T CA CA

9DULD LD YLWH]HL GH URWD LH vQ ]LOH

Dz = Dz1 Dz 0 = 78,82 78,34 = +0,48 zile

0HWRGRORJLD GH DQDOL] HVWH XUP WRDUHD IDFWRULDO D YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH

1. ,QIOXHQ D PRGLILF ULL FLIUHL GH DIDFHUL AC0 AC0 T T = 68,35 78,34 = 9,99 zile CA1 CA 0 2. ,QIOXHQ D PRGLILF ULL VROGXOXL PHGLX DO DFWLYHORU FLUFXODQWH AC1 AC0 T T = 78,82 68,35 = +10,47 zile CA1 CA1
GLQ FDUH GDWRULW   ,QIOXHQ HL PRGLILF ULL VWRFXULORU PHGLL

St1 St T 0 T = 41,47 38,11 = +3,36 zile CA1 CA1

 ,QIOXHQ HL PRGLILF ULL VROGXOXL PHGLX DO FUHDQ HORU

Cr1 Cr T 0 T = 37,35 30,24 = +7,11 zile CA1 CA1

(IHFWXO PRGLILF ULL YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH

eliberare de capital
GH FDSLWDO vQ vQUHJLVWUHD]

vQ FD]XO DFFHOHU ULL YLWH]HL GH URWD LH vQFHWLQLULL DFHVWHLD Q VLWXD LD

poate fi o , sau o imobilizare

PDL VXV VH

FD]XO

DQDOL]DW

R LPRELOL

zare de capital, respectiv:

I = ( 78,82 78,34 )
6H FRQVWDW

61.200 = 81,6 mil. lei 360

R vQFHWLQLUH D YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH GH OD

 ]LOH vQ SULPXO DQ OD  ]LOH vQ DQXO XUP WRU FHHD FH DUH FD HIHFW R

imobilizare dH FDSLWDO QFHWLQLUHD YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH V-a GDWRUDW FUHWHULL VROGXOXL PHGLX DO DFWLYHORU FLUFXODQWH vQWU-un ritm superior celui al cifrei de afaceri (115,32% > 114,61% ).
'LQ VROGXOXL SXQFW DO GH YHGHUH DO LQIOXHQ HORU IDFWRULORU VH FRQVWDW YLWH]HL  F GH PDMRUDUHD FLIUHL GH DIDFHUL FX  PHGLX DFWLYHORU URWD LH DGLF GHWHUPLQDW vQ FRQGL LLOH PHQ LQHULL FRQVWDQWH D GHWHUPLQ DFFHOHUDUHD FX FLUFXODQWH DO

UHGXFHUHD DFHVWHLD FX  ]LOH VROGXOXL PHGLX GH DFWLYHORU FLUFXODQWH

&UHWHUHD

32% a
FX

vQFHWLQLUHD

YLWH]HL

URWD LH

UHVSHFWLY

PDMRUDUHD

DFHVWHLD

10,47 zile. $FHDVW

VLWXD LH V D GDWRUDW DWkW FUHWHULL YDORULL FUHDQ HORU FkW L D

VWRFXULORU ,QIOXHQ D VWRFXULORU VH DSUHFLD] PDMRU ULL FUHDQ HORU QX HVWH MXVWLILFDW

QRUPDO

ISt < ICA ), dar cea a

vQ WRWDOLWDWH GH FUHWHUHD YkQ] ULORU

( ICr > ICA ).

'HFL WUHEXLH UHGXV SHQWUX VROGXO DFFHOHUDUHD PHGLX LL ILHF UXL VWDGLX DO URWD LHL FDSLWDOXOXL LQYHVWLW DO FLUFXODQWH YLWH]HL OD GH URWD LH SUHFXP OD D L DFWLYHORU D YDORULL QX FLUFXODQWH FHORUODOWH E FUHDQ HORU SkQ

categorii GH DFWLYH desf XUDUH D DFWLYLW

YDULDWH HOH ILLQG

OLPLWD

FDUH

DIHFWHD]

una

& LOH GH DFFHOHUDUH D YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH VXQW VSHFLILFH

Astfel:

n stadiul
FHUHD OD

DSURYL]LRQ ULL DSURYL]LRQDUHD ULWPLF

FX UHVXUVH PDWHULDOH

GH OD FHOH PDL DSURSLDWH VXUVH L FX PLMORDFHOH GH WUDQVSRUW FHOH PDL

economice, respectarea contractelor ncheiate cu furnizorii, reduPD[LPXP L D SHULVDELOLW SULQ LORU OD PDWHULDOH SH GXUDWD RSH WUDQVSRUWXOXL GHSR]LW ULL PHFDQL]DUHD DXWRPDWL]DUHD UD LLORU GH PDQLSXODUH D DFHVWRUD GLPHQVLRQDUHD

optim a stocurilor
GH SURGXF LH L

de materii prime, materiale, produse finite etc.;

vQ VWDGLXO SURGXF LHL UHGXFHUHD GXUDWHL FLFOXOXL

diminXDUHD FRQVXPXULORU VSHFLILFH GH PDWHULL SULPH L PDWHULDOH SULQ

PRGHUQL]DUHD FDSDFLW

WHKQRORJLLORU

GH

IDEULFD LH

XWLOL]DUHD

LQWHJUDO

LORU GH SURGXF LH IRORVLUHD FRPSOHW LUHD FDOLW OLYUDUH D

D WLPSXOXL GH PXQF 

DSURYL]LRQDUHD UD LRQDO SHUVRQDOXOXL vPEXQ W FRQWUDFWH IHUPH GH

D ORFXULORU GH PXQF  FUHWHUHD FDOLILF ULL LL SURGXVHORU SURGXF LHL UHGXFHUHD WLPSXOXL GH

vQ VWDGLXO YkQ] ULL FUHWHUHD ULWPXOXL YkQ] ULORU SULQ vQFKHLHUHD GH PDQLSXODUH D ORWXULORU OLYUDELOH SUHFXP L DFFHOHUDUHD ULWPXOX GHFRQWDUH FX FOLHQ LL XUP ULUHD RSHUDWLY D GHFRQW ULL SURGXVHORU

i de etc.

vQFDVDUH D YkQ] ULORU SULQ DOHJHUHD FHORU PDL DYDQWDMRDVH IRUPH GH

5.2.9 Analiza fluxurilor de trezorerie

7RDWH RSHUD LLOH SH FDUH vQWUHSULQGHUHD OH GHVI RDU VH UHJ VHVF vL

imedLDW
DVLJXU

VDX OD WHUPHQ VXE IRUPD IOX[XULORU GH WUH]RUHULH $VWIHO R ILUP SHUHQLWDWHD GRDU GDF SULQ DFWLYLWDWHD VD GHJDM R LQIRUPD LH FKHLH FDUH

vQ PRG SHUPDQHQW SHUPLWH DSUHFLHUHD

trezorerie.
7UH]RUHULD UHSUH]LQW SHUIRUPDQ HORU vQWUHSULQGHULL DYkQG L XQ URO VWUDWHJLF vQ FHHD FH SULYHWH QLYHOXO V X GH IRUPDUH FkW L PRGXO GH XWLOL]DUH FRQIHU

Folosirea DFHVWHL LQIRUPD LL - ILQDQFLDU GHRDUHFH spre deosebire de fondul de rulment, necesarul de fRQG GH UXOPHQW L
RELHFWLYLWDWH vQ JHVWLXQHD L DQDOL]D HFRQRPLFR GH DXWRILQDQ DUH WUH]RUHULD QX HVWH XQ FDSDFLWDWHD FRQFHSW GRPLQDW GH ([LVWHQ D WUH]RUHULHL UHIOHFW SR]L LD VWUDWHJLF D ILUPHL vQ UDSRUW FX

LQFLGHQ D FRQYHQ LLORU L SROLWLFLORU FRQWDELOH SURGXVHOH VDOH SLH HOH VDOH FRQFXUHQ LL V L L factorii externi. De asemenea, aceasta FRQVWLWXLH JDMXO IOH[LELOLW LL ILUPHL GHRDUHFH SHUPLWH PDQaJHULORU V realizeze obiectivele strategice ale firmei prin achizi ii de mijloace fixe sau SULQ LQYHVWL LL ILQDQFLDUH 3ULYLQG SUDFWLFD LQWHUQD LRQDO  SU

imul model de tablou al fluxurilor

RUJDQLVPXO LQWHUQD LRQDO GH

GH WUH]RUHULH HVWH SURSXV SULQ VWDQGDUGXO FRQWDELO DPHULFDQ )$6   L

prin aceaVW
UHFRPDQGDW

QRUP  GH )$6% &X FkWHYD GLIHUHQ H GLQ  DFHVWD HVWH L vQ )UDQ D $SRL ,$6& HPLWH L SXQH vQ DSOLFDUH vQ  QRUPD  ,$6  SULYLQG ULOH GH]YROWDWH D VLWXD LLORU ORU ILQDQFLDUH XQ LQIRUPD LL SULYLQG PRGXO IOX[XULOH GH WUH]RUHULH

normalizDUH
WUHEXLH V

WDEORXO GH ILQDQ DUH $VWIHO GLQ  FRPSDQLLOH PDUL GLQ SXEOLFH FD R SDUWH FRPSRQHQW

tablou al fluxurilor de trezorerie. Tabloul fluxurilor de trezorerie furni]HD]

vQ FDUH vQWUHSULQGHUHD JHQHUHD] QXPHUDU &RQIRUP QRUPHL LQWHUQD LRQDOH L XWLOL]HD] ,$6

QXPHUDUXO L HFKLYDOHQ 

tele de

UHSUH]LQW OLFKLGLW

F URU YDORDUH QX ULVF

OLFKLGH FRQYHUWLELOH FX XXULQ V

vedere,

LDU HFKLYDOHQWHOH GH OLFKLGLW

L

DQVDPEOXO LQWU ULORU L LHLULORU GH OLFKLGLW /LFKLGLW LOH VHP

nLILF

IRQGXULOH

VH VFKLPEH vQ PRG VHPQLILFDWLY

ntr-R P

L SODVDPHQWHOH SH WHUPHQ VFXUW IRDUWH ULPH GHWHUPLQDW GH OLFKLGLW

GLVSRQLELOH

L VDX GH HFKLYDOHQWH GH L GHSR]LWHOH OD

L L D

XUP WRDUHOH WUHL FDWHJRUL

n cadrul tabloului fluxurilor de trezorerie, fluxurile sunt grupate n

IOX[XUL JHQHUDWH GH DFWLYLW IOX[XUL JHQHUDWH GH DFWLYLW IOX[XUL JHQHUDWH GH DFWLYLW 5H]XOWDQWD ILQDO DVWIHO LOH GH H[SORDWDUH LOH GH LQYHVWL LL LOH GH ILQDQ

FDUH SRDWH IL GHWHUPLQDW

D FHORU WUHL FDWHJRULL GH IOX[XUL HVWH WUH]RUHULD QHW UHLD VH RSHUHD] FX vQFDV UL L SO L

; DUH.

prin PHWRGD GLUHFW  FRQIRUP F brute n numerar; prin PHWRGD LQGLUHFW  FRQIRUP
FDUH VH FRUHFWHD]

FX DFWLYHOH QHPRQHWDUH DOWH HOHPHQWH GH YHQLWXUL

F UHLD VH SRUQHWH GH OD SURILWXO QHW

GH

aceasta SHUPLWH RE LQHUHD GH LQIRUPD LL QHFHVDUH HVWLP

WUH]RUHULH 'HRVHELUHD SULQFLSDO vQWUH FHOH

,$6  UHFRPDQG

sau cheltuieli nelegate de exploatare etc.

vQWUHSULQGHULORU XWLOL]DUHD PHWRGHL GLUHFWH GHRDUHFH GRX ULL IOX[XULORU YLLWRDUH PHWRGH FRQVW vQ

structura fluxurilor de trezorerie relative referitoare la activit ile de exploatare. Conform metodei directe, fluxurile monetare sunt grupate n diferite
QRUPD LQWHUQD LRQDO )OX[XULOH FDWHJRULL GH vQFDV UL XUP WRDUHD VWUXFWXU  PHWRGD GLUHFW  GDU SH ED]D H[HPSOHOR WUH]RUHULH UHODWLYH L SO L $FHVWHD QX VXQW SUHFL]DWH FX H[DFWLWDWH vQ

r, se poate lua n considerare

DFWLYLW LOH GH H[SORDWDUH

GH

OD

QFDV UL JHQHUDWH GH UHOD LLOH FX FOLHQ LL

- 3O L vQ IDYRDUHD IXUQL]RULORU L SHUVRQDOXOXL - Dobnzi L GLYLGHQGH SO WLWH  - 3O L SULYLQG LPSR]LWHOH DVXSUD EHQHILFLLORU  - $OWH SO L JHQHUDWH GH H[SORDWDUH - -/+ Elemente extraordinare - = +/- )OX[XO QHW GH WUH]RUHULH UHODWLY OD DFWLYLW
ILQDQ DUH  $FHVW IOX[ DU SXWHD IL vPS U LW vQWUH DFWLYLW

LOH GH H[SORDWDUH

1) Aceste fluxuri ar putea fi incluse, de asemenea, n categoria fluxurilor de

LOH GH H[SORDWDUH FHOH GH

investi LL L FHOH GH ILQDQ DUH

3
1)HOHDJ 7UDWDW GH FRQWDELOLWDWH ILQDQFLDU

YRO, (GLWXUD (FRQRPLF

%XFXUHWL 

FHHD

FH

SULYHWH

PHWRGD

LQGLUHFW 

SUH]HQWDUHD

WLS

QRUPHL

LQWHUQD LRQDOH YL]HD]

XUP WRDUHOH FDWHJRULL

+/- 5H]XOWDWXO QHW vQDLQWHD LPSR]LW

ULL L HOHPHQWHORU H[WUDRUGLQDUH LQFLGHQ DVXSUD WUH]RUHULHL

(OLPLQDUHD YHQLWXULORU L FKHOWXLHOLORU I U

 &KHOWXLHOL FX DPRUWL] ULOH L SURYL]LRDQHOH

9HQLWXUL GLQ DPRUWL] UL L SURYL]LRDQH

(OLPLQDUHD YHQLWXULORU L FKHOWXLHOLORU QHOHJDWH GH H[SORDWDUH

+/- 5H]XOWDWXO FHVLXQLL LPRELOL] + Cheltuieli privind dobnzile - Venituri din plasamente

ULORU L SODVDPHQWHORU

_____________________________________________________________

= +/- 5H]XOWDWXO GLQ H[SORDWDUH vQDLQWHD YDULD LHL QHFHVDUXOXL GH IRQG GH rulment +/- 9DULD LD VWRFXULORU +/- 9DULD LD FRQWXULORU FOLHQ L a DOWRU FUHDQ H Gin exploatare +/- 9DULD LD FRQWXULORU IXUQL]RUL L D DOWRU GDWRULL GLQ H[SORDWDUH - 'REkQ]L L GLYLGHQGH SO WLWH  - 3O L SULYLQG LPSR]LWHOH DVXSUD SURILWXOXL  +/- Elemente extraordinare
_____________________________________________________________

= +/- )OX[XO QHW GH WUH]RUHULH UHODWLY OD DFWLYLW

ILQDQ DUH

LOH

de exploatare

1) Aceste fluxuri ar putea fi incluse, de asemenea, n categoria fluxurilor de 2)

$FHVW IOX[ DU SXWHD IL vPS U LW vQWUH DFWLYLW LOH GH H[SORDWDUH FHOH GH LQYHVWL LL L FHOH GH ILQDQ D

re.
DOH DFWLYLW LORU GH LQYHVWL LL ,$6  QX

3ULYLQG

IOX[XULOH

GH

WUH]RUHULH

specific

H[DFW VWUXFWXUD DFHVWRUD WRWXL H[HPSOHOH GLQ DQH[D QRUPHL FRQGXF

OD XUP WRDUHD SUH]HQWDUH WLS

Fluxurile de trezorerie UHODWLYH OD DFWLYLW



LOH GH LQYHVWL LL

AcKL]L LRQDUHD ILOLDOHL ;  - ) trezoreria achizi LRQDW Cesiunea filialei Y

$FKL]L LRQDUHD GH LPRELOL] UL $FKL]L LRQDUHD GH SODVDPHQWH QFDV ULOH FH UH]XOW GLQ FHVLXQHD GH LPRELOL] UL

+ Dobnzi ncasate + Dividende primite (ncasate) = +/- Flux neW GH WUH]RUHULH UHODWLY OD DFWLYLW

LOH GH LQYHVWL LL

De asemenea,

,$6

QX

VSHFLILF

H[DFW

VWUXFWXUD

fluxurilor de

WUH]RUHULH UHODWLYH OD DFWLYLW

LOH GH ILQDQ DUH WRWXL H[HPSOHOH GLQ DQH[D

QRUPHL FRQGXF OD XUP WRDUHD SUH]HQWDUH WLS

Fluxurile de trezRUHULH UHODWLYH OD DFWLYLW

 &UHWHUHD GH FDSLWDO vQ QXPHUDU

LOH GH ILQDQ DUH

- Rambursarea de capital, n numerar + Emisiunea (contractarea) de mprumuturi (altele dect cele de trezorerie) - Rambursarea de mprumuturi (altele dect cele de trezorerie) - 5DPEXUVDUHD GH GDWRULL FH UH]XOW GLQ FRQWUDFWHOH GH ORFD LH-ILQDQ DUH
'REkQ]L L GLYLGHQGH SO WLWH 

= +/- Flux net de trezorerie relativ la activit ile de finan are 1) Aceste fluxuri ar putea s fluxurilor de exploatare. fie incluse, de asemenea, n categoria

Exemplu:
3H ED]D ELODQ XOXL FRQWDELO L D FRQWXO GH SURILW L SLHUGHUL DOH XQHL vQWUHSULQGHUL SUH]HQWDWH PDL MRV V VH DQDOL]HOH IOX[XULOH GH WUH]RUHULH DOH

acesteia.

Tabelul 5.13
%,/$1

- mil lei (OHPHQWH ELODQ LHUH

N-1 800 - 130 7000 - 2500 1500 - 250 2300 7000 900 16620

N 800 - 130 7220 - 2550 1500 - 250 3650 6950 350 17540

9DULD LD

Elemente de activ
,PRELOL] UL QHFRUSRUDOH $PRUWL] UL LPRELOL] UL ,PRELOL] UL FRUSRUDOH $PRUWL]DUL LPRELOL] UL FRUSRUDOH ,PRELOL] UL ILQDQFLDUH $PRUWL] UL LPRELOL] UL ILQDQFLDUH

necorporale

Stocuri
&UHDQ H  'LVSRQLELOLW L

Elemente de activ - total Elemente de pasiv Capital social Profit nerepartizat Datorii financiare pe termen lung Datorii furnizori
'DWRULL ILVFDOH L VRFLDOH

+ 220 - 50 + 1350 - 50 - 550 + 920

Datorii diverse Elemente de pasiv total

 6H FRQVLGHU FUHDQ H F WRDWH FUHDQ HOH VXQW LL GH

7000 700 4600 3200 720 400 16620

8220 800 3850 3700 700 270 17540

+ 1220 + 100 - 750 + 500 - 20 - 130 + 920

FOLHQ L DIHUHQWH DFWLYLW exploatare

Tabelul 5.14
&2178/ '( 352),7 , 3,(5'(5( /$  $18/ 1

- mil lei INDICATORI Venituri din exploatare Venituri din vnzarea m UIXULORU
3URGXF LH YkQGXW

Cifra de afaceri
3URGXF LH VWRFDW 3URGXF LH LPRELOL]DW

N 14400 4000 10400 14400 13900 1700 4100 350 600 420 2500 1300 2930

Cheltuieli de exploatare

&KHOWXLHOL SULYLQG P UIXULOH

Cheltuieli cu materiile prime

&KHOWXLHOL FX HQHUJLD L DSD &KHOWXLHOL FX OXFU UL L VHUYLFLL H[HFXWDWH

Cheltuieli cu LPSR]LWH L WD[H Cheltuieli cu personalul

&KHOWXLHOL SULYLQG DVLJXU ULOH L SURWHFWLD VRFLDO &KHOWXLHOL FX DPRUWL]DUHD LPRELOL] ULORU

Venituri financiare Venituri din dobnzi Alte venituri financiare Cheltuieli financiare Cheltuieli privind dobnzile Alte cheltuieli financiare
9HQLWXUL H[FHS LRQDOH

100 100 200 200 400 100 300

Venituri din cedarea activelor

&KHOWXLHOL H[FHS LRQDOH

Cheltuieli cu cedarea activelor Profit brut Impozit pe profit Profit net

,QIRUPD LL FRPSOHPHQWDUH FUHWHUHD FDSLWDOXOXL D DYXW ORF vQ FXUVXO DQXOXL 1 SULQ DSRUW GH QXPHUDU DO DF LRQDULORU VH GLVWULEXLH GLYLGHQGH DF LRQDULORU vQ YDORDU

e de 200 mil. lei;

s-D DFKL]L LRQDW XQ XWLODM vQ YDORDUH GH  n numerar ntreaga contravaloare a acestuia; s-a rambursat un credit de 750 mil.lei.

PLOOHL SO WLQGX

-se

Pe baza datelor de mai sus, tabloul fluxurilor de trezorerie pentru anul N se prezLQW DVWIHO
Tabelul 5.15 TABLOUL FLUXURILOR DE TREZORERIE PENTRU ANUL N

- mil lei )OX[XULOH GH WUH]RUHULH UHIHULWRDUH OD DFWLYLW 3URILWXO QHW vQDLQWHD LPSR]LW ULL (OLPLQDUHD YHQLWXULORU L FKHOWXLHOLORU I U LQFLGHQ LOH GH H[SORDWDUH

400 asupra trezoreriei: + 2930

 &UHWHUHD FKHOWXLHOLORU SULYLQG DPRUWL] ULOH

Eliminarea veniturilor L a cheltuielilor nelegate de exploatare: __________________________________________________________________ 3URILWXO GLQ H[SORDWDUH vQDLQWHD YDULD LHL QHFHVDrului de fond de rulment +3330 - &UHWHUHD VWRFXULORU -1350 +50 + 'LPLQXDUHD VROGXULORU FRQWXULORU FOLHQ L L DOWRU FUHDQ H din exploatare + &UHWHUHD GDWRULLORU ID GH IXUQL]RUL +500 - Diminuarea datoriilor fisFDOH L VRFLDOH -20 - Diminuarea datoriilor diverse -130 - 3O L SULYLQG LPSR]LWHOH DVXSUD SURILWXOXL -100 __________________________________________________________________ )OX[XO QHW GH WUH]RUHULH UHODWLY OD DFWLYLW LOH GH H[SORDWDUH  $  +2280
)OX[XULOH GH WUH]RUHULH UHIHULWRDUH OD DFWLYLW LOH GH LQYHVWL LL

- Achizi ionarea unui utilaj 3100 __________________________________________________________________ )OX[XO QHW GH WUH]RUHULH UHODWLY OD DFWLYLW LOH GH LQYHVWL ii ( B ) 3100
)OX[XULOH GH WUH]RUHULH UHIHULWRDUH OD DFWLYLW LOH GH ILQDQ DUH  &UHWHUHD GH FDSLWDO vQ QXPHUDU 1220 - Rambursarea de mprumuturi 750 - 'LYLGHQGH SO WLWH 200 __________________________________________________________________ = Fluxul neW GH WUH]RUHULH UHODWLY OD DFWLYLW LOH GH ILQDQ DUH  &  + 270

550 +900 __________________________________________________________________

 /LFKLGLW L OD GHVFKLGHUHD H[HUFL LXOXL 1  /LFKLGLW L OD vQFKLGHUHD H[HUFL LXOXL 1 

'LPLQXDUHD QHWD D OLFKLGLW

LORU  $  %  & 

Concluzie:
5H]XOW DFWLYLW F vQ DQXO FXUHQW 1 vQWUHSULQGHUHD vQUHJLVWUHD] OD QLYHOXO IOX[XOXL GH H[SORDWDUH $ OLFKLGLW LL UHQWDELOH GHVI XUDWH )OX[XO ILUP GH WUH]RUHULH GLQ RSHUD LLOH GH LQYHVWL LL % HYLGHQ LD] GH GH LQYHVWL LD HIHFWXDW L vQ YDORDUH GH  PLO OHL FD XUPDUH D

necesarul de trezorerie (3100 mil. lei) geneUDW

, VH FRQVWDW F DFHVW necesar de trezorerie nu poate fi acoperit integral de fluxul de trezorerie GHJDMDW GH DFWLYLWDWHD FXUHQW  $VWIHO VH DSHOHD] OD R PDMRUDUH GH FDSLWal SULQ DSRUWXO YHFKLORU DF LRQDUL, concomitent cu distribuirea de dividende
F WUH DFHWLD 3HQWUX D VSRUL vQFUHGHUHD DF LRQDULORU vQ FDSDFLWDWHD GH

SHQWUX DFKL]L LRQDUHD XQXL XWLODM 'H DVHPHQHD

dezvoltare viitoare a firmei, se fac eforturi pentru rambursarea creditelor bancare.

Q WUH]RUHULD FRQFOX]LH GLQ GHL vQWUHSULQGHUHD FXUHQW HVWH DUH V SHUIRUPDQ H GHRVHELWH DFWLYLWDWHD LQVXILFLHQW

pentru acoperirea
D PRG

RSHUD LLORU GH LQYHVWL LL DVWIHO DFH

asta este nevoit

DSHOH]H OD VXUVH H[WHUQH

GH ILQDQ DUH RE LQXWH SULQ PDMRUDUH GH FDSLWDO GHFL I U DF LRQDULDWXOXL L HYLWkQG LQWHUYHQ LD H[WHUQ 'DWRULW V V V V

ifica structura

vQ SURFHVXO GH OXDUH D GHFL]LLORU

VWUXFWXULL L PHWRGRORJLHL GH vQWRFPLUH D WDEORXOXL IOX[XULORU OLFKLGLW L vQ

GH WUH]RUHULH DFHVWD SHUPLWH XWLOL]DWRULORU VLWXD LLORU ILQDQFLDUH XUP WRDUHOH Hvalueze capacitatea ntreprinderii de a deJDMD special din activitatea de exploatare; GHWHUPLQH QHFHVLW SUHYDG VF FRPSDUH LOH GH OLFKLGLW L ULORU YLLWRDUH SULQ HOLPLQDUHD HIH

aden HOH L ULVFXO vQFDV

UH]XOWDWHOH

vQWUHSULQGHULL

ctelor

utiliz rii diferitelor metode contabile (de amortizare etc.).

'HL WDEORXO IOX[XULORU GH WUH]RUHULH RIHU LQIRUPD LL XWLOH GHVSUH VROYDELOLWDWHD L IOH[LELOLWDWHD ILQDQFLDU D ILUPHL ILLQG PXOW PDL UHOHYDQW

dect indicatorii de echilibru financiar, fondul de rulment, nevoia de fond de UXOPHQW L WUH]RUHULD QHW  acesta SUH]LQW DQXPLWH OLPLWH OHJDWH GH GHILQLUHD L UROXO WUH]RUHULHL FRQ LQXWXO IXQF LHL GH H[SORDWaUH L PRGXO GH FDOFXO DO IOX[XULORU DVRFLDWH DFHVWHLD HYDOXDUHD SHUIRUPDQ HORU SULQ intermediul
IOX[XULORU GH WUH]RUHULH SUHFXP L vQ LQVXILFLHQ D DFHVWXLD GH D DSUHFLD L SUHYL]LRQD HYROX LD VLWXD LHL ILQDQFLDUH SH WHUPHQ OXQJ D XQHL ILUPH

ntreb 1. 2. 3. 4.

UL L DSOLFD LL

&DUH HVWH XWLOLWDWHD ELODQ XOXL SDWULPRQLDO ILQDQFLDU L D FHO

ui IXQF ional
SHQWUX

n analiza sitXD iei financiare a ntreprinderii?

&DUH VXQW SULQFLSDOHOH FRUHF LL GH DFWLY L SDVLY HIHFWXDWH RE LQHUHD ELODQ XOXL SDWULPRQLDO ILQDQFLDU &XP VH GHWHUPLQ SDWULPRQLXO QHW L

?
VXQW F LOH GH FUHWHUH D

FDUH

acestuia?
6 VH FDOFXOH]H L V VH LQWHUSUHWH]H HYROX LD SDWULPRQLXOXL QHW SH ED]D XUP WRDUHORU GDWH
%,/$1

= mil. lei =

ACTIV Activ imobilizat net Stocuri

&OLHQ L 'LVSRQLELOLW L

N-1 3800 1750 940 120

N 3550 2100 1700 340

PASIV Capital social Rezerve Rezultatul net nerepartizat Datorii financiare pe termen lung Datorii furnizori Credite bancare curente TOTAL PASIV

N-1 3000 500 800 1500 1750 940

N 3000 600 850 2200 1900 860

TOTAL ACTIV

6610

7690

6610

7690

5. 6. 7.

&XP LQWHUSUHWD L HYROX GH DFWLY VH PDMRUHD] &XP VH GHWHUPLQ

ia patrimoniului net n siWXD LD vQ FDUH HOHPHQWHOH Fu 7% iar datoriile totale cu 2%? ?

LQGLFDWRULL GH HFKLOLEUX ILQDQFLDU IRQGXO GH UXOPHQW

QHYRLD GH IRQG GH UXOPHQW L WUH]RUHULD QHW &DUH VXQW HOHPHQWHOH FDUH LQIOXHQ HD] VHPQLILFD LH HFRQRPLF DU

QHYRLD GH IRQG GH UXOPHQW L FH

e un nivel constant al acesteia?

8. 9.

Q FH FRQGL LL QHYRLD GH IRQG GH UXOPHQW L WUH]RUHULD QHW QHJDWLYH L FDUH HVWH VHPQ ILFD LD HFRQRPLF

DX YDORUL

D DFHVWXL IDSW

/D  DQXO 1 ELODQ XO XQHL vQWUHSULQGHUL DUH XUP WRDUHD VWUXFWXU 

%,/$1

= mil. lei =

ACTIV
,PRELOL] UL QHFRUSRUDOH ,PRELOL] UL FRUSRUDOH ,PRELOL] UL ILQDQFLDUH

N-1 55 950 350 550 310 325 20 60

N 50 900 400 600 300 350 25 12 70

PASIV Capital social Rezerve Rezultatul exercitiului nerepartizat Provizioane pentru

ULVFXUL L FKHOWXLHOL

N1 800 137 70 35 1005 400 110 40 8 15

N 800 140 85 40 1100 360 100 55 7 20

Stocuri
&OLHQ L

Efecte de ncasat
,PSR]LWH L WD[H GH

ncasat
'HELWRUL GLYHUL 'LVSRQLELOLW L

Datorii financiare pe termen lung Datorii furnizori

(IHFWH GH SODW 79$ GH SODW

CreditRUL GLYHUL Credite bancare curente TOTAL ACTIV

6 VH FDOFXOH]H L V

2620

2707 TOTAL PASIV

2620

2707

VH LQWHUSUHWH]H IRQGXO GH UXOPHQW QHW

global, nevoia
FRPSRQHQWH

GH IRQG GH UXOPHQW L WUH]RUHULH QHW 

10. 3H

ED]D GDWHORU GH OD DSOLFDWLD  V L V VH H[SOLFH FXP

VH GHWHUPLQH FHOH GRX HVWH ILQDQ DW QHYR

DOH QHYRLL GH IRQG GH UXOPHQW UHVSHFWLY FHD GH H[SORDWDUH L FHD vQ DIDUD H[SORDW ULL

ia de fond de

rulment.
 )RUPXOD L SULQFLSDOHOH FRQFOX]LL SH ED]D XUP WRDUHORU GDWH

Indicele capitalui propriu = 116% Indicele capitalului permanent = 110% Indicele activelor imobilizate = 121%.

12. 3H

ED]D GDWHORU GLQ ELODQ XO XQHL VRFLHW

L FRPHUFLDOH V

VH DQDOL]H]H

HYROX LD VWUXFWXULL SDWULPRQLDOH L D VXUVHORU GH ILQDQ DUH %,/$1

= mil.lei =
ACTIV N -1 N PASIV N-1 N

> ?@AB C B D > ?@AB C B D > ?@AB C B D

EB$FGH@E I@EJC G EBH@E)I@EJC G EBK)B FJFHB JE+G

4.150 166.050 112.100 282.300

4700 235.300 80.000 320.000

Capital social Rezerve Rezultatul

G[GE+HB B \C \B

150.000 70.000 24.050

150.000 72.500 25.250

TOTAL ACTIVE IMOBILIZATE

nerepartizat
R \4A4]GF B B^IGF4M E \

2.740

2.500

Stocuri Clien i
L C M GNHE+GJF

127.500 141.050 e pe termen 3.280 23.500 1.320 296.650

B

130.500 118.140 3.360 22.400 5.600 280.000

B F2]GP+M B B B

TOTAL CAPITAL PROPRIU

249.790

250.250

scurt Titluri de plasament

O7B P+I@FB AB C B M

70.450

66.800

Provizioane pentru
E+B PH\4EB_BH`

125.250 80.500 60.100

147.230 85.000 58.000 290.230

TOTAL ACTIVE CIRCULANTE 7.140 Cheltuieli nregistrate n avans CONTURI DE REGULARIZARE

Q > LSR > TU> V LXWZY

eltuieli

7280 7280

Credite bancare Furnizori Alte datorii pe

265.850

7.140

termen scurt

TOTAL DATORII

TOTAL ACTIV

586.090

607.280

TOTAL PASIV

586.090

607.280

13. ([SOLFD L

vQ

FH

FRQVW

LPSRUWDQ D L FRPHUFLDOH

DQDOL]HL

FRUHODWH

FUHDQ HORU

REOLJD LLORU XQHL VRFLHW

14. 6 VH DQDOL]H]H SULQFLSDOHOH DVSHFWH oEOLJD LLORU SH ED]D XUP toarelor date:

SULYLQG

HYROX LD

FUHDQ HORU

mil. lei
Nr. Indicatori Crt. 1. Cifra de afaceri 2. &UHDQ H GLQ FDUH FUHDQ H   DQ FUHDQ H !  DQ 3. 2EOLJD LL GLQ FDUH REOLJD LL  1 an REOLJD LL !  DQ Perioada N-1 130.000 18.500 13.350 5.150 75.000 69.750 5.250 N 250.000 38.700 34.100 4.600 90.000 90.000 -

15. ,QWHUSUHWD L XUP

WRDUHD VLWXD LH  ]LOH

'XUDWD GH LPRELOL]DUH D FUHDQ HORU

Durata de folosire a surselor atrase = 34 zile. 16. &DUH HVWH VHPQLILFD LD HFRQRPLF Indicele cifrei de afaceri = 114%
,QGLFHOH VROGXOXL PHGLX DO REOLJD LLORU SH WHUPHQ VFXUW  D HYROX LHL LQGLFDWRULORU

17. &H UHIOHFW 18. &DOFXOD L

OLFKLGLWDWHD L VR

lvabilitatea unei ntreprinderi?

L LQWHUSUHWD L OLFKLGLWDWHD L VROYDELOLWDWHD XQHL ILUPH SH ED]D

GDWHORU GLQ ELODQ XO GH PDL MRV vQ UDSRUW FX VWDQGDUGHOH LQWHUQD LRQDOH

%,/$1

- mil. lei -

ACTIV Active imobilizate Active circulante, din care: - Stocuri - &UHDQ H - 'LVSRQLELOLW L b QHWL L SODVDPHQWH TOTAL ACTIV

N-1 3.250 4.600 2.920 1.460 220 7.850

N 3.800 4.220 2.150 1.570 500 8.020

PASIV Capital propriu mprumuturi pe

WHUPHQ PHGLX L

N-1

3.500 3.150

lung
)XUQL]RUL L DOWH REOLJD LL FXUHQWH

650

400

3.600 4.390 100 7.850 80 8.020

Credite pe termen scurt TOTAL PASIV

19. 6 VH GHWHUPLQH UDWD VROYDELOLW LL SDWULPRQLDOH FXP DSUHFLD L cazul n care aceasta este de 35%? 20. &XP
VH GHWHUPLQ UDWD OLFKLGLW VH vQFDGUH]H DFHDVWD WUHEXLH V

VLWXD LD vQ

LL JHQHUDOH L FDUH VXQW OLPLWHOH vQ FDUH

21. Care sunt principalele rate utilizate pentru analiza echilibrului economico-financiar al firmei ? 22. 'HILQL L
YLWH]D GH URWD LH D DFWLYHORU FLUFXODQWH L PHQ LRQD L LQGLFDWRULL DFHVW FRQFHSW HFRQRPLF GHWHUPLQD L GH FDSLWDO FDUH H[SULP

23. $QDOL]D L YLWH]D GH URWD LH D DFWLYHORU FLUFXODQWH vQ ]LOH L efectul modifiF ULL DFHVWHLD HOLEHUDUH VDX LPRELOL]DUH
FLUFXODQW vQ FXUVXO D GRX H[HUFL LL ILQDQFLDUH FRQVHFXWLYH

mil. lei

Nr. Indicatori Crt. 1. Cifra de afaceri 2. Soldul mediu al activelor circulante, din care: Stocuri &UHDQ H 'LVSRQLELOLW L E QHWL

Perioada N-1 17.800 2.350 1.260 1.050 40 N 19.400 3.070 1.550 1.430 90

24. 6FULH L IRUPXOD L LQWHUSUHWD L LQIOXHQ D FX VHPQXO a activelor circulante asupra viWH]HL GH URWD LH D DFHVWRUD GXUDWD vQ ]LOH D XQHL URWD Li). 25. ,QWHUSUHWD L indicatori:
VLWXD LD XQHL vQWUHSULQGHUL SH ED]D GLQDPLFLL XUP WRULORU

Indicele cifrei de afaceri = 104% Indicele activelor imobilizate = 102,5% Indicele activelor circulante = 107%.

6
ANALIZA GESTIUNII RESURSELOR UMANE
Munca
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-sociale

este

de

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n scopul satisfacerii acestor nevoi. n analiza gestiunii resurselor umane la nivel microeconomic, se are n vedere faptuO F PXQFD VH PDQLIHVW FD IDFWRU GH SURGXF LH QXPDL vQ VWDUH
DFWLY L QX VXE IRUPD XQHL UHVXUVH VWRFDWH &D DWDUH SUREOHPDWLFD DQDOL]HL FDQWLWDWLY L FDOLWDWLY FX UHVXUVH XPDQH L VH FLUFXPVFULH OD DVLJXUDUHD FRUHOD LD GH]YROWDUH Q FRQVHFLQ HILFLHQ D XWLOL] ULL DFHVWRUD $VSHFWH SULYLQG SLD D PXQFLL

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ei

gestiunii resurselor umane sunt:

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de criterii specifice pentru fiecare categorie1

QXP UXOXL GH SHUVRQDO FRQVWLWXLH R SUREOHP

'LPHQVLRQDUHD GHRVHELW GH

UD LRQDO

D vQ

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               ! 

 

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 & 
   
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FRPSOH[ GH IDFWRUL PRWLYD LRQDOL GLPHQVLRQDUHD

indicatori, respectiv:

QXP UXO PD[LP GH VDODULD L DGLF OLPLWD VXSHULRDU vQ FDUH VH SRDWH vQVFULH ILUPD SHQWUX XWLOL]DUHD HILFLHQW D IDFWRUXOXL PXQF 

N max =

1RW QXP UXO

N 0 Iq 100

, n care Iq
GH

UHSUH]LQW

,CA

sau Qa
GH

SUHY ]XW

ID

GH

SHULRDGD SUHFHGHQW  PHGLX VDODULD L FX FRQWUDFW PXQF  1RUPH FHL FDUH

metodologice MF 110-139/20.01.1998); QXP UXO PHGLX GH SHUVRQDO OD LQGLFDWRUXO SUHFHGHQW VH DGDXJ

OXFUHD] SH ED] GH FRQYHQ LH

efectivul scriptic de personal, care cuprinde totalitatea personalului existent Q HYLGHQ D XQLW LL OD XQ PRPHQW GDW efectivul scriptic prezent la lucru ntr-un anumit moment.

: N - GH UHJXO  VH FDOFXOHD] SH ED]D HIHFWLYXOXL VFULSWLF 6H RSWHD] L pentru varianta efectivului prezent. Dinamica efectivuluL GH SHUVRQDO SH WRWDO L FDWHJRULL DUH PHQLUHD GH D SXQH vQ HYLGHQ GLPHQVLXQHD SRWHQ LDOXOXL WHKQLF-HFRQRPLF OHJDW GH
DFHVW IDFWRU GH SURGXF LH vQ UDSRUW GH UHDOL] ULOH SHULRDGHORU DQWHULRDUH L QHFHVDUXO SUHVWDELOLW Q FRQVHFLQ SH WRWDO SHUVRQDO L FDWHJRULL  VH VWDELOHWH PRGLILFDUHD DEVROXW 

N),

N = N1 N0,

n care: N
3H QXP UXO GH SHUVRQDO PHGLX VDX VFULSWLF UHDOL]DW  L FHO GLQ ED]D GH FRPSDUD LH  ED]D GDWHORU IXUQL]DWH GH LQIRUPD LLOH QHFHVDUH GLUHF LD GH DQDOL]HL UHVXUVH XPDQH GLQ FDGUXO SRW IL VWUXFWXUDWH DVWIHO

ntreprinderii, (tabelul 6.1):

Tabelul 6.1.
5HDOL] UL 3HULRDGD FXUHQW

Nr. crt. 1. a. b. c. 2. a. 3. 4. 5.

Categorii de personal Muncitori, din care: direct productivi indirect productivi

GHVHUYLUH JHQHUDO 3HUVRQDO WHKQLF L GH FHUFHWDUH

perioada
SUHFHGHQW 3UHY ]XW

Realizat Nr. 710 570 78 62 85 68 58 853 11772

R UH

Nr. 840 645 112 83 130 70 conducere 70 1040 8800

% 80,8 62,0 10,8 8,0 12,5 6,7 6,7 100 x

Nr. 645 505 80 60 125 90 60 830 11440

VH

% 77,7 60,8 9,6 7,3 15,1 10,8 7,2 100 x

% 83,2 66,8 9,1 7,3 10,0 7,6 6,8 100 x

din care: de cercetare Personal de

L DGPLQLVWUD LH

TOTAL PERSONAL Cifra de afaceri mil.lei

SUH XUL FRPSDUDELOH

&RPSDUDWLY

FX

SHULRDGD

SUHFHGHQW 

SUHYHGH

ducere a

SHUVRQDOXOXL FX SHVWH 

 SHUVRDQH vQ FRQGL LLOH HVWLP ULL XQHL FUHWHUL  (YLGHQW R DVHPHQHD L SULQ PRGLILF ULOH

D FLIUHL GH DIDFHUL vQ SUH XUL FRPSDUDELOH FX 

VLWXD LH HVWH XUPDUHD XQRU P VXUL SUHFRQL]DWH GH VWUXFWXUDUH GH VSRULUH D HILFLHQ HL HFRQRPLFH $FHVW OXFUX SRDWH IL SXV vQ HYLGHQ SUHY ]XWH D VH SURGXFH vQ VWUXFWXUD SHUVRQDOXOXL UHVSHFWLY PHQ LQHUHD XQHL

ponderi ridicate a muncitorilor direct productivi (n defavoarea celor indirect

SURGXFWLYL L GH GHVHUYLUH JHQHUDO  L D SHUVRQDOXOXL WHKQLF L GH FHUFHWDUH FX R LPSRUWDQW VFKLPEDUH vQ VWUXFWXUD DFHVWXLD D SHUVRQDOXOXL GH DQDOL] VH /D VIkULWXO H[HUFL LXOXL SUHYHGHULOH VXQW UHDOL]DWH SDU LDO FX XQHOH DFFHQWH QHJDWLYH FXP DU IL GH H[HPSOX VF GHUHD FRQVLGHUDELO

de cercetare. ntr-R
PHQ LRQHD]

DVHPHQHD

VLWXD LH

vQ

DFWLYLWDWHD

SUDFWLF

FDX]HOH FDUH DX FRQGXV OD QHUHDOL]DUHD P VXULORU SUHFRQL]DWH FX D FRPSDUWLPHQWHORU U VSXQ] WRDUH vQ

SUHFL]DUHD JUDGXOXL GH LPSOLFDUH GLUHFW YHGHUHD vQWUHSULQGHULL P VXULORU FDUH VH

impun n cadrul gestiunii interne a

LL vQ FDGUXO FX XQLW L vQV FRPSDUD LL

ntreprinderii.
Q FD]XO HIHFWX ULL XQRU VWXGLL GH VXELHF L GLQ DIDUD XQLW DQDOL]HL VH FRQVWDW VLWXD LD GDW  I FkQGX VH

VLPLODUH vQ FHHD FH SULYHWH QXP UXO L VWUXFWXUD SHUVRQDOXOXL L QLYHOXO GH

productivitate.

$D GH H[HPSOX DQDOL]D VWUXFWXULL SHUVRQDOXOXL SRDWH YL]D JUXSDUHD DFHVWXLD vQ IXQF LH GH PHVHULH YkUVW  YHFKLPHD WRWDO DSUHFLHUHD VLWXD LHL H[LVWHQWH OD XQ PRPHQW GDW 3HQWUX DFHVWXLD SRDWH SHUVRQDOXO IL XUP ULW SURGXFWLY vQ L GH FX GHVHUYLUH HYROX LD JHQHUDO  GLQDPLFD LL PXQFLL FRUHOD LH SURGXFWLYLW vQ PXQF  VWDJLXO vQ FDGUXO vQWUHSULQGHULL L DOWH FULWHULL ILHFDUH DYkQG R VHPQLILFD LH

proprie n

stabilindu-VH DVWIHO R PRGLILFDUH UHODWLY SH ED]D UHOD LHL N - N x IQ

SUHY ]XW

$VWIHO vQ H[HPSOXO GDW FRPSDUDWLY FX SHULRDGD SUHFHGHQW

-a

645 840
710 840

5HDOL] ULOH VXQW XUP WRDUHOH

11440 = 447 persoane 8800

GH SHULRDGD SUHFHGHQW

11772 = 414 SHUVRDQH ID 8800

710 645
vQVHDPQ

11772 = + 46 persoane, comparativ cu prevederile, ceea ce 11441

SURGXFWLYLWDWHD PXQFLL QX D FUHVFXW vQ FRQIRUPLWDWH FX QHJDWLY vQ FRVWXO SURGXF LHL

SUHYHGHULOH IDSW FH VH UHIOHFW

 $QDOL]D VWDELOLW Q OHJ WXU HILFLHQW GLUHFW

LL SHUVRQDOXOXL

FX GLQDPLFD SHUVRQDOXOXL HVWH VWDELOL

tatea acestuia

vQ FDGUXO vQWUHSULQGHULL FDUH FRQVWLWXLH R FRQGL LH LPSRUWDQW D IRU HL GH PXQF  0RELOLWDWHD IRU HL GH PXQF vQWUH FLUFXOD LH L IOXFWXD LH &LUFXOD LD IRU HL GH PXQF XQHL SHULRDGH LQWU UL L LHLUL UHSUH]LQW

SHQWUX XWLOL]DUHD

DSDUH DWkW VXE IRUPD LQWU ULORU FkW L D VH IDF GLVWLQF LH

LHLULORU LQGLIHUHQW GH FDX]D JHQHUDWRDUH 7RWXL WUHEXLH V

PLFDUHD SHUVRQDOXOXL vQ FXUVXO GH FDX]H VRFLDO

GHWHUPLQDW

-economice

SHQVLRQDUH GHFHVH WUDQVIHUXUL UHVWUkQJHUHD DFWLYLW

LL etc.). Pentru caracterizarea acestui fenomen se folosesc indicatorii: Intrari in cursul perioadei FRHILFLHQWXO LQWU ULORU ; Numarul mediu de personal Plecari in cursul perioadei FRHILFLHQWXO SOHF ULORU ; Numar mediu de personal

FRHILFLHQWXO PLF ULL WRWDOH

Intrari + Iesiri . Numar mediu de personal

IOXFWXD LD IRU HL GH PXQF  FD XQ DSUREDUHD

Q FDGUXO SOHF ULORU SRDWH IL UHPDUFDW

IHQRPHQ QHQRUPDO UHSUH]HQWkQG SOHF ULOH GLQ vQWUHSULQGHUL I U &RHILFLHQWXO GH IOXFWXD LH VH VWDELOHWH FD UDSRUW vQWUH

FRQGXFHULL vQWUHSULQGHULL VDX FD XUPDUH D QHUHVSHFW ULL OHJLVOD LHL PXQFLL

totalul celor
Tabelul 6.2.

SOHFD L GLQ FDX]HOH PHQ LRQDWH L QXP UXO PHGLX GH SHUVRQDO

N. crt. 1. 2. 3. 4. 5. 6.

Indicatori
1XP U PHGLX GH SHUVRQDO 1XP UXO PHGLX DO LQWU ULORU 1XP UXO PHGLX DO SOHF ULORU GLQ FDUH IOXFWXD LL &RHILFLHQWXO LQWU U

P0 1040 156 343 143 0,15 0,33 0,14 0,48

L IOXFWXD LD

P1 853 170 357 160 0,20 0,42 0,19 0,62

LL VLWXD LD V D vQU XW

ilor

&RHILFLHQWXO SOHF ULORU GLQ FDUH IOXFWXD LL &RHILFLHQWXO PLF ULL WRWDOH

5H]XOW

GLQ SXQFW GH YHGHUH DO VWDELOLW

LW L

vQWUXFkW D FUHVFXW PLFDUHD WRWDO

(IHFWXDUHD XQRU VWXGLL FX FDUDFWHU VRFLRORJLF SRW SXQH vQ HYLGHQ FDGUXO vQWUHSULQGHULL FX PRWLYD LD UHVSHFWLY  $VHPHQHD DVSHFWH

DVSHFWH SULYLQG LQWHQ LLOH SHUVRQDOXOXL vQ FHHD FH SULYHWH U PkQHUHD VDX QX vQ WUHEXLH

cunoscute de conducerea ntreprinderii, n formularea politicii de personal.

 $QDOL]D FDOLILF ULL IRU HL GH PXQF 1LYHOXO GH FDOLILFDUH D SHUVRQDOXOXL UHSUH]LQW LPSRUWDQW UHVSHFWLY Q $QDOL]D FDOLILF ULL IRU HL GH PXQF YL]HD] OD XQ D R SUREOHP GRX GHRVHELW GH

vQ GLPHQVLRQDUHD SURGXF LHL L HYROX LD SURGXFWLYLW FDUDFWHUL]DUHD VROX LRQDUHD VLWXD LHL FDOLILF ULL VH PRPHQW

L PXQFLL GH GDW

.
ED] 

DVSHFWH

HYROX LD

DFHVWXLD L PRGXO vQ FDUH HVWH XWLOL]DW SULPXOXL

IRU D GH PXQF SRDWH

FDOLILFDW 

DVSHFW

vea n vedere structura

FDOLILFDW 

SHUVRQDOXOXL SH IRUPH GH SUHJ WLUH L SHUIHF LRQDUHD IRU HL GH PXQF

cum ar fi:
DEVROYHQ L DL FROLORU SURIHVLRQDOH XFHQLFL OD ORFXO GH PXQF  DEVROYHQ L DL OLFHHORU GH VSHFLDOLWDWH

DEVROYHQ L DL vQY

DEVROYHQ L DL XQRU FXUVXUL GH VSHFLDOL]DUH HWF 3HQWUX FDUDFWHUL]DUHD VLQWHWLF

PkQWXOXL VXSHULR

r;

VH XWLOL]HD]

FRHILFLHQWXO FDOLILF ULL PHGLL . VWDELOLW SH ED]D UHOD LHL

D QLYHOXOXL GH FDOLILFDUH D SHUVRQDOXOXL

K=
n care:

(n k ) , n

FDWHJRULH VSHFLDO

n QXP UXO GH SHUVonal pe categorii de ncadrare; k = categoria de ncadrare (n cazul n care se folosesc denumiri de
Q FHHD FH SULYHWH PRGXO GH IRORVLUH D IRU HL GH PXQF VXSHULRDU HWF VH SURFHGHD] OD R FRGLILFDUH D DFHVWRUD FDOLILFDW .F FDOFXODW SH ED]D UDSRUWXOXL VH

poate XWLOL]D FRHILFLHQWXO GH FRQFRUGDQ

Kc =

K , Kl

n care:
UHOD LHL

Kl

FRHILFLHQWXO GH FRPSOH[LWDWH DO OXFU ULORU VWDELOLW FX DMXWRUXO

Kl =
n care:
1K

(Nh t ) , Nh
te pe categorii de ncadrare a
LPSOLF XUP WRDUHOH

QXP UXO GH RUH QRUPDWH UHDOL]D OXFU ULORU

LQIRUPD LL WDEHOXO 

([HPSOLILFDUHD PHWRGRORJLHL GH DQDOL]

FDWHJRULD GH vQFDGUDUH D OXFU ULORU

Categoria de ncadrare a personalului respectiv a

OXFU WRULORU

1XP U PX

ncitori

Tabelul 6.3. Ore normate realizate

I II III IV V VI VII TOTAL (n k) (Nh t)

P0 207 161 213 191 40 24 4 840 2.304 x

P1 209 129 168 148 32 19 5 645 1.872 x

P0 66.053 87.084 70.069 26.110 11.558 3.782 1.580 266.236 x 646.410

P1 46.080 69.015 48.840 21.160 9.600 3.040 2.000 200.035 x 496.710

2304 = 2,74 840 1872 K1 = = 2,9 645 2,74 Kc 0 = = 1,13 2,43 K0 =

5H]XOW F OD R FUHWHUH UHODWLY

Kl 0 =

646410 = 2,43 266236 496710 Kl1 = = 2,48 200035 2,9 Kc1 = = 1,17 2,48
GH PXQF FDOLILFDW 

vQWUHSULQGHUHD DUH XQ VXUSOXV GH IRU

vQ UDSRUW GH QLYHOXO WHKQLF DO OXFU ULORU FDUH WUHEXLH UHDOL]DWH IDSW FH FRQGXFH D FKHOWXLHOLORU FX VDODULLOH FX HIHFWHOH FRUHVSXQ] WRDUH

asupra ntregului sistem de indicatori economico-financiari.

 $QDOL]D XWLOL] ULL WLPSXOXL GH PXQF 8WLOL]DUHD LQWHJUDO 5HDOL]DUHD IRORVLUHD FRPSOHW XQHL D WLPSXOXL GH PXQF FkW PDL PDUL UHSUH]LQW HVWH XQD GLQ ODWXULOH OHJDW GH

LPSRUWDQWH DOH IRORVLULL HILFLHQWH D IDFWRUXOXL PXQF  SURGXF LL QHPLMORFLW FX PD[LP F L HILFLHQ D IRQGXOXL GH WLPS GH PXQF  vQ FXUVXO SURFHVXOXL GH SURGXF LH VH

(FRQRPLVLUHD WLPSXOXL GH PXQF SRDWH UHDOL]D SH GRX

a) b)

SH FDOH H[WHQVLY  SULQ UHGXFHUHD SLHUGHULORU GH WLPS vQ ]LOH VDX vQ RUH SH FDOH LQWHQVLY  SULQ UHGXFHUHD FKHOWXLHOLORU GH WLPS GH PXQF GH SURGXV FUHWHUHD SURGXFWLYLW LL PXQFLL $QDOL]D IRORVLULL WLPSXOXL GH PXQF

SH XQLWDWH

XUP UHWH GHVFRSHULUHD UH]HUYHORU WLPSXOXL GLVSRQLELO SUHFXP L D

H[LVWHQWH

SH

OLQLD

XWLOL] ULL

FRPSOHWH

FDX]HORU XWLOL] ULL LQFRPSOHWH D DFHVWXLD HYLGHQ LLQG HIHFWHOH HFRQRPLFH DOH PRELOL] ULL UH]HUYHORU H[LVWHQWH Q DFHVW VFRS VH DUH vQ YHGHUH HYROX LD SRQGHULL WLPSXOXL HIHFWLY vQ

fondul de timp maxim disponibil, comparativ cu perioadele precedente sau cu DOWH XQLW L FDOFXOkQGX-se gradul de utilizare a fondului maxim disponibil (Guf) raportnd timpul efectiv lucrat (Te) la fondul de timp maxim disponibil (Tmax). Te Guf = 100 T max

Tabelul 6.4 - ore Nr. crt. 1. 2. 3. Indicatori Timp maxim disponibil Timp efectiv lucrat Timp nelucrat, din care: concedii medicale concedii maternitate
DFFLGHQWH GH PXQF

P0 ore 1.579.200 1.493.520 85.680 21.420 4.284 3.427 5.147 34.272 17.130 % 100 94,6 5,4 25 5 4 6 40 20

P1 ore 1.334.800 1.293.620 41.180 8.236 1.647 827 1.647 18.531 10.295

% 100 96,9 3,1 20 4 4 45 25

evenimente
DEVHQ H QHPRWLYDWH

cauze independente de
VDODULD L OLSV PDWHULH SULP  RSULUL DFFLGHQWDOH

etc.)
5H]XOW R FUHWHUH D JUDGXOXL GH XWLOL]DUH D IRQGXOXL PD[LP GLVS

onibil,

ceea ce este un rezultat pozitiv. S-DX SURGXV VFKLPE UL L vQ VWUXFWXUD WLPSXOXL nelucrat, respectiv, sporirea timpului nelucrat din cauze independente, ceea ce
GHQRW GHILFLHQ H GH PDQDJHPHQW

n cadrul analizei, un accent deosebit se pune pe stabilitatea cauzelor

FDUH DX GHWHUPLQDW XWLOL]DUHD LQFRPSOHW VHQV VH XUP UHWH VWUXFWXUD WLPSXOXL SHUVRQDO L GHSHQGHQWH GH DFHVWD D WLPSXOXL PD[LP GLVSRQLELO Q DFHVW QHXWLOL]DW SH FDX]H LQGHSHQGHQWH GH

n cadrul celei de-D

GRXD JUXSH R DWHQ LH GHRVHELW

WUHEXLH DFRUGDW

WLPSXOXL QHOXFUDW GLQ FDX]D JUHYHORU FRQIOLFWHORU GH PXQF  VWDELOLQGX QXP UXO PHGLX GH ]LOH GH JUHY  6F GHUHD DFHVWXL LQGLFDWRU PDUFKHD]

-se
R

FUHWHUH D JUDGXOXL GH VDWLVIDFHUH D UHYHQGLF ULORU VLQGLFDOH MXVWLILFDWH L vQ

consecin R care decurg.

vPEXQ W

LUH D FOLPDWXOXL VRFLDO GH PXQF  FX HIHFWHOH SR]LWLYH GH XWLOL]DUH D WLPSXOXL GH PXQF VH UHIOHFW

0RGLILFDUHD

JUDGXOXL

asupra: a) YDORULL SURGXF LHL H[HUFL LXOXL N1 (Nh1 Nh 0 )wh 0 , unde: Nh0 QXP UXO PHGLX GH RUH OXFUDWH b) YDORULL DG XJDWH N1 (Nh1 Nh 0 )wh 0 0 , n care: 0 YDORDUHD DG XJDW OD  OHX SURGXF LH D H[HUFL LXOXL

c) cifrei de afaceri
N1 (Nh1 Nh 0 )wh 0 CA 0 . Qe0

d)

UH]XOWDWXOXL H[SORDW ULL

N1 (Nh1 Nh 0 )wh 0 R 0 ,

n care: R0 = profitul la 1 leu CA. e) cheltuielilRU OD  OHL SURGXF LH SULQ LQWHUPHGLXO FKHOWXLHOLORU IL[H F0 F0 1000 1000 N1 Nh1 wh 0 N1 Nh 0 wh 0
3ULQ LQWHUPHGLXO DFHVWRU LQGLFDWRUL LQIOXHQ HOH SRW IL H[WLQVH L DVXSUD

altora, cum ar fi:

UDWD UHQWDELOLW LL ILQDQFLDUH D FDSLWDOXOXL SHUPDQHQW L SURSULX D HOHPHQWHORU GH DFWLY HWF D WLPSXOXL

indicatorL GH HILFLHQ

(IHFWHOH HFRQRPLFH DVXSUD LQGLFDWRULORU PHQ LRQD L SRW IL VHSDUDWH SH ILHFDUH FDX] GH PXQF  8WLOL]DUHD WLPSXOXL GH PXQF HVWH LQIOXHQ DW L GH gradul de conflictualitate GLQWUH VDODULD L VLQGLFDWH L FRQGXFHUH 3HQWUX FDUDFWHUL]DUHD XQHL DVHPHQHD VLWXD LL VH IRORVHVF PDL PXO L LQGLFDWRUL FXP VXQW QXP U GH JUHYH GLQ FDUH vQ SDUWH FDUH D GHWHUPLQDW XWLOL]DUHD LQFRPSOHW

- spontane; - de avertisment; - generale.

QXP UXO WRWDO GH ]LOH JUHY QXP UXO GH JUHYH JUDGXO GH LPSRUWDQ D JUHYHL GXUDWD JUH

vei
OD

QXP UXO GH SDUWLFLSDQ L

QLYHOXO

vQWUHSULQGHULL

Numar de grevisti . Numar total de salariati

3HQWUX WRDW

SHULRDGD VH UHFRPDQG

UHOD LD

Numar total de zile greva . Timpul maxim disponibil

QXP U PHGLX GH RUH JUHY SH XQ JUHYLVW UHVSHFWLY S

e un salariat.

$JUDYDUHD VW ULL GH FRQIOLFWXDOLWDWH DUH LPSOLFD LL DVXSUD UHOD LLORU GH

colaborare a firmei cu partenerii.

 $QDOL]D HILFLHQ HL PXQFLL XWLOL] ULL UHVXUVHORU XPDQH 3HQWUX FDUDFWHUL]DUHD L DQDOL]D HILFLHQ HL PXQFLL  VH IRORVHVF PDL

mXO L LQGLFDWRUL GLQWUH FDUH vQ SULQFLSDO VH XWLOL]HD] productivitatea muncii; profitul pe salariat.
3URGXFWLYLWDWHD PXQFLL HVWH GHILQLW ILLQG IRU D SURGXFWLY D PXQFLL DGLF DFHD

vQ OLWHUDWXUD GH VSHFLDOLWDWH FD FDSDFLWDWH SRVLELOLWDWH D GH WLPS XQ DQXPLW YROXP GH R

factoruluL
DQXPLW

PXQF

GH D FUHD vQWU R SHULRDG

EXQXUL L GH D SUHVWD DQXPLWH VHUYLFLL Q XOWLP Q FDGUXO LQVWDQ  FDUDFWHUL]HD] SURGXFWLYLW HILFLHQ D FX FDUH HVWH FKHOWXLW LL PXQFLL SRW IL LQGLYL FDQWLWDWH GH PXQF  DQDOL]HL

dualizate

XUP WRDUHOH SUREOHPH

 $QDOL]D SURGXFWLYLW

LL PXQFLL SH ED]D LQGLFDWRULORU YDORULFL L

fizici
Q SUDFWLF  SHQWUX DQDOL]D SURGXFWLYLW LL GH VH XWLOL]HD] GH SURGXVH PXQF XQ VLVWHP GH RE LQXWH FX R SHQWUX

indicatori pULQ
DQXPLW

FDUH

VH GH

H[SULP PXQF 

ILH ILH

FDQWLWDWHD

FKHOWXLDO

FKHOWXLDOD

HIHFWXDW

RE LQHUHD XQHL XQLW

L GH SURGXV FD UDSRUW vQWUH 7 HIHFWXDWH UDSRUWXO LQYHUV

Q SULPXO FD] SURGXFWLYLWDWHD PXQFLL : VH H[SULP YROXPXO SURGXF LHL 4 L FKHOWXLHOLOH GH PXQF

Q W = , iar n cel de-DO GRLOHD FD] VH XWLOL]HD] T

FRPSOH L

W=

T . Q

naturali
LQFRPSOH L

Indicatori ai
SURGXFWLYLW LL DQXDO :D :] :K 3URGXF LD H[HUFL LXOXL

muncii valorici (W)

]LOQLF RUDU

Cifra de afaceri
9DORDUHD DG XJDW

SURGXFWLYLWDWHD DQXDO

n raport de cheltuielile GH PXQF GHRVHELP cnd cheltuielile de munF

VXQW H[SULPDWH

SULQ QXP UXO PHGLX VFULSWLF WRWDO SHUVRQDO VDX PXQFLWRUL

Wa =
SURGXFWLYLWDWHD ]LOQLF FkQG prin consumul de timp om-zile:

FKHOWXLHOLOH GH PXQF

Q ; T

VXQW H[SULPDWH

Wz =

Q ; T(om zile)
VXQW H[SULPDWH SULQ

SURGXFWLYLWDWHD RUDU cnd FKHOWXLHOLOH GH PXQF consumul de timp n om-ore: Q Wh = . T(om ore) 3HQWUX DQDOL]D GLQDPLFLL SURGXFWLYLW

LL PXQFLL SH ED]D LQGLFDWRULORU

valoULFL VXQW QHFHVDUH XUP

Nr. crt. 1. 2. 3. 4. 5. 6. 7. 8. 9. Indicatori

WRDUHOH

date:
Tabelul 6.5

*+,- ./10
11.440 830 190.900 1.489.020 230 7,8 13.783 59,23 7,59
YDORULFL

Realizat 11.772 853 191.925 1.381.860 225 7,2 13.800 61,33 8,52
vQUHJLVWUHD] FUHWHUL

% 102,9 102,8 x x 97,83 92,31 100,13 103,55 112,25

ID GH

Cifra afaceri 2! 354 de 6749 8:; 39<= > =mil.lei 6 ; = ; Total om-zile lucrate Total 2! 354 om-ore 6 3?>@4A8
:@lucrate ; 39:@8B; > 8> 31C6 =D

Durata E16F@:
3GCD medie ; H?; D =D 8
=a zilei de lucru =I53?=> (Wa Cmii E16F@:
3G D ; H?; D lei) =D 8
= (Wz Cmii E16F@:
3G D ; H?; D lei) =D 8
= (Wh mii lei)
5H]XOW F WR L

B
; > I?; C F6=6
LQGLFDWRULL

IWa < IWz FD XUPDUH D VF GHULL QXP UXOXL PHGLX GH ]LOH OXFUDWH LDU IWz < IWh GDWRULW PLFRU ULL GXUDWHL PHGLL D ]LOHL GH OXFUX Efectul acestor fenomene asupra productivLW LL DQXDOH SRDWH vQ HYLGHQ SH ED]D UHOD LHL :D 1] Nh Wh.
Q ED]D GDWHORU GLQ WDEHOXO  VLWXD LD VH SUH]LQW PRGLILF ULL GLQ FDUH GDWRULW

QLYHOXO SUHY ]XW GDU vQ SURSRU LL GLIHULWH $VWIHO

IL SXV

Wa = 13.800 13.783 = + 14 mii lei

DVWIHO

QXP UXOXL PHGLX GH ]LOH OXFUDWH

Nz1 Nh0 Wh0 Wa0 = 225 7,8 7,59 13.783 = =13.320 13.783 = - 463 mii lei

duratei medii a zilei de lucru: Nz1 Nh1 Wh0 Nz1 Nh0 Wh0 = 225 7,2 7,59 13.320 = = 12.296 13.320 = - 1024 mii lei
SURGXFWLYLW

Wa1 Nz1 Nh1 Wh0 = 13.800 12.296 = + 1.504 mii lei

D WLPSXOXL GH PXQF  LQFOXVLY vQ FDGUXO ]LOHL D LL V DQXDOH ILH IL FX  vQ PLL OHL vQ FHHD FH WUHEXLH GHWDOLX SXV YDORDUH L SHULRDGD DQDOL]HL GLPLQXDUHD R UH]HUY SURGXFWLYLW FDUH vQ

LL RUDUH

8WLOL]DUHD LQFRPSOHW FRQGXV OD FRQVWLWXLH XUP WRDUH

ntr-o
SURGXFWLYLW SURGXFWLYLW

FHUFHWDUH

SRDWH

DERUGDW

SUREOHPD

LL RUDUH ]LOQLFH L DQXDOH SULQ SULVPD VWUXFWXULL SURGXF LHL L D LL RUDUH SH SURGXVH VDX FDWHJRULL GH DFWLYLW L Q DFHVW VFRS VXQW

QHFHVDUH GDWHOH GLQ WDEHOXO XUP WRU

(tabelul 6.6.):
3URGXFWLYLWDWHD RUDU

Nr. crt. 1. 2. 3. 4.

Produse (grupa de produse) A B C D TOTAL

6WUXFWXUD SURGXF LHL

Tabelul 6.6 Productivitatea

RUDU UHFDOFXODW

pe produse mii lei P0 20 28 40 55 38,47 P1 38 27 43 52 42,40

P0 20,5 18,0 30,0 31,5 100

P1 15,0 21,0 25,0 39,0 100

UHFDOFXODW

(Wh) 3 5,88 10,00 21,45 40,33

127

:
VH VWDELOHWH SH ED]D VWUXFWXULL HIHFWLYH SH SURGXVH

a)

SURGXFWLYLWDWHD RUDU

Ex. A = 0,15 20 = 3 mii lei b) 6WUXFWXUD SURGXF LHL VH GHWHUPLQ

PXQF 

L SURGXFWLYLWDWHD RUDU

SH ED]D HYDOX ULL SURGXF LHL vQ WLPS GH

Pentru P0, g 0 =

q0t 0 , q0 t 0
 GDF VH RSHUHD] FX FLIUD

n care: t = timpul consumat pe produs; q FDQWLWDWHD IDEULFDW  UHVSHFWLY YkQGXW de afaceri.

Q FRQVHFLQ

 PRGLILFDUHD SURGXFWLYLW SULQ LQIOXHQ D

LL RU

are de 3,93 mii lei (42,4

 VH H[SOLF
SURGXFWLYLW

VWUXFWXULL SURGXF LHL

Wh Wh0 = 40,33 38,47 = + 1,86 mii lei

LL RUDUH SH SURGXVH IDSWXO F

'DWHOH DWHVW VSUH SURGXVH FDUH

Wh1 Wh = 42,4 40,33 = + 2,07 mii lei

GRDU  QHFHVLW R PDQRSHU PDL UHGXV 

GLQ FUHWHUHD SURGXFWLYLW ID GH

LL RUDUH SH

HVWH UH]XOWDWXO VSRULULL HILFLHQ HL SH SURGXVH UHVWXO ILLQG HIHFWXO RULHQW ULL PHGLD

ntreprindere. 1) 3HQWUX SURGXFWLYLWDWHD ]LOQLF VH DUH vQ YHGHUH UHOD LD Wz = Nh Wh n coQVHFLQ  IDFWRULL GH LQIOXHQ VXQW durata medie a zilei de lucru (Nh1 Nh0) Wh0
VWUXFWXUD SURGXF LHL

Nh1 (Wh Wh0)

SH SURGXVH

SURGXFWLYLWDWHD RUDU

Nh1 (Wh1 Wh)

VH DQDOL]HD] SH ED]D UHOD LHL D FHUFHW ULL D SHUPLWH GH GH IRUPXODUHD vQ GH

,DU OD SURGXFWLYLWDWHD DQXDO

Wa = Nz Nh Wh
GH XWLOL]DUH SUH]LQW

O asePHQHD
FRQFOX]LL XQLW L DVXSUD GH /LWHUDWXUD SURGXFWLYLW

DSURIXQGDUH PRGXOXL

WLPSXOXL L

PXQF DQDOL]

FDGUXO ED]D

LL vQ ED]D F URUD V

VH DGRSWH GHFL]LLOH FRUHVSXQ] WRDUH PRGDOLW SH SH ED]D UHOD LHL

VSHFLDOLWDWH

LL PDUJLQDOH :P FDOFXODW

Q DFHVW IHO VH FXDQWLILF FDQWLW L VXSOLPHQWDUH GH PXQF  &X DMXWRUXO

Q Wm = T
LL

VSRUXO GH SURGXF LH RE LQXW SH VHDPD XQHL PDUJLQDOH VH SRDWH FDUDFWHUL]D

SURGXFWLYLW

elastiFLWDWHD SURGXF LHL ( FDUH UHIOHFW

FUHWHUHD SURFHQWXDO

D SURGXF LHL OD

R PRGLILFDUH FX XQ SURFHQW D IDFWRUXOXL GH PXQF 

Q Q T Wm Q E= = = T Q T W T

3H ED]D XQXL LU GH GDWH UH]XOWDWH vQ XUPD XQRU FHUFHW UL VH SRDWH VWDELOL

zona n care productivitatea

$QDOL]D SURGXFWLYLW

PDUJLQDO LL

DWLQJH YDORDUHD PD[LP  GXS SRDWH IL DERUGDW L

FDUH R

VSRULUH D IDFWRUXOXL PXQF  FRQGXFH OD R GLPLQXDUH D SURGXFWLYLW PXQFLL UHOD LHL GLQWUH vQ]HVWUDUHD WHKQLF L HILFLHQ D XWLOL] ULL ED]HL PD

LL PHGLL SULQ SULVPD

teriale. n acest scop pot fi folosite mai multe modele multiplicative:

a)

CA Mf CA = ; N N Mf
CA Nm Mf CA ; = N N Nm Mf CA Mf Mf CA ; = Nm Nm Mf Mf
CA Mf Mf Qe CA . = N N Mf Mf Qe

b)

c)

d)

6HPQLILFD LD UDSRDUWHORU HVWH XUP WRDUHD

CA = productivitatea N

DQXDO

FDOFXODW

SH ED]D FLIUHL GH DIDFHUL vQ QXP UXO

PHGLX GH VDODULD L 1

Mf N

JUDGXO GH vQ]HVWUDUH WHKQLF

FDOFXODW SH ED]D YDORULL PHGLL DQXDOH D

mijloacelor fixe (Mf);

CA = randamentul mijloacelor fixe; Mf

Nm N
Mf Nm

VWUXFWXUD SHUVRQDOXOXL vQ IXQF LH GH QXP UXO PHGLX GH PXQFLWRUL 1P L WRWDOXO SHUVRQDOXOXL JUDGXO GH vQ]HVWUDUH WHKQLF D PXQFLWRULORU vQ IXQF LH GH PLMORDFHOH IL[H

active (Mf);

CA = randamentul mijloacelor fixe active; Mf

Mf Mf

FRPSR]L LD WHKQRORJLF

D FDSLWDOXOXL IL[

6.5.2

Analiza

efectelor

economico-ILQDQFLDUH

DOH

PRGLILF ULL

SURGXFWLYLW

LL PXQFLL LL PXQFLL DUH XQ FRPSOH[ GH H

0RGLILFDUHD SURGXFWLYLW HYDOXHD] L H[SULPDUH D DFHVWXLD

fecte, care se

FX DMXWRUXO XQHL PHWRGRORJLL VWDELOLW

vQ IXQF LH GH PRGXO GH FDOFXO

$VWIHO vQ FD]XO GHWHUPLQ ULL SH ED]D LQGLFDWRULORU YDORULFL SURGXF LD H[HUFL LXOXL PRGLILFDUHD SURGXFWLYLW LL PXQFLL VH UHIOHFW

n:

a) b)

SURGXF LD H[HUFL LXOXL YDORDUHD DG XJDW 

T1(Wh1 Wh0) T1(Wh1 Wh0) 0

T1 ( Wh 1 Wh 0 ) CA 0 Qe 0

c) cifra de afaceri:

d) rezultatul aferent cifrei de afaceri:

T1 ( Wh 1 Wh 0 )
e)
FKHOWXLHOLOH FX SHUVRQDOXO OD  OHL FLIU

CA 0 R0 Qe 0
GH DIDFHUL &V

Cs 0 Cs 0 IW

n care: IW f)
VH FDOFXOHD] SH ED]D UHOD LHL

Wa1 100 Wa 0

FKHOWXLHOLOH IL[H OD  OHL FLIU

GH DIDFHUL

F0 F0 1000 1000 T1Wh1 T1Wh 0

3ULQ LQWHUPHGLXO DFHVWRU LQGLFDWRUL VH SRW VWDELOL L HIHFWHOH SURSDJDWH

asupra altor indicatori economico-financiari.

([SULPDUHD SURGXFWLYLW LL PXQFLL vQ XQLW L QDWXUDOH FD GH H[HPSOX

timpul consumat pe unitate de produs, se poate determina prin efectul asupra: a) costului pe unitate de produs: chs 0 chs 0 IW unde: chs0 = cheltuielile cu salariile; t0 LQGLFHOH SURGXFWLYLW LL PXQFLL VWDELOLW SH ED]D UHOD LHL . IW t1 b) profitul aferent produsului chs0 I chs0 q1 W

 $QDOL]D HILFLHQ HL UHVXUVHORU XPDQH SH ED]D SURILWXOXL

pe salariat Profitul pe salariat, resSHFWLY

HYLGHQ OHJ WXUD GLQWUH vQ]HVWUDUHD UH]XOWDWXO GLQ H[SORDWDUH UHSUH]LQW WHKQLF  HILFLHQ D XWLOL] ULL DFHVWHLD XQ L LQGLFDWRU VHPQLILFDWLY SHQWUX FDUDFWHUL]DUHD HILFLHQ HL PXQFLL vQWUXFkW SXQH vQ

productivitatea muncii. Literatura de specialitaWH UHFRPDQG

GH DQDOL]  $VWIHO

PDL PXOWH PRGHOH

a)

PXQFLL L UDWD UHQWDELOLW

RE CA RE =  N N CA

$FHVW

PRGHO

H[SULP

FRUHOD LD

GLQWUH

SURGXFWLYLWDWHD

LL FRPHUFLDOH IRQGXO GH WLPS H[SULPDW vQ RP

b)

RE T CA RE = ; T UHSUH]LQW N N T CA sau om-ore; RE Mf Mf CA RE c) = N N Mf Mf CA

Q ED]D DFHVWRU PRGHOH

-zile

SRDWH

IL

DQDOL]DW

HYROX LD

SURILWXOXL

GLQ

activitatea de exploatare pe salariat.

 $QDOL]D SRVLELOLW

LORU GH VSRULUH D SURGXFWLYLW

LL PXQFLL

3URGXFWLYLWDWHD PXQFLL HVWH LQIOXHQ DW SRW IL JUXSD L vQ

GH XQ FRPSOH[

de factori, care

a) factori privind introducerea progresului tehnic; b) factori privind impactul managementului performant; c) IDFWRUL GH QDWXU ELR-psiho-VRFLRORJLF 
Q FDGUXO ILHF UHL JUXSH VH LGHQWLILF FDUH SRW SULPHL RSHUD LL L FXDQWLILF GLIHULWH P VXUL

tehnice RUJDQL]DWRULFH L GH DOW muncii.

$D PHFDQL] ULL GH L H[HPSOX vQ DXWRPDWL] ULL QLYHOXOXL SURGXFWLYLW

QDWXU FDGUXO

FRQWULEXL OD VSRULUHD HILFLHQ HL JUXSH GLQ VH FXDQWLILF WHKQRORJLF HIHFWXO DVXSUD

DQXPLWRU

IOX[XO

LL SH SURGXVH L VWUXFWXUD RUJDQL]DWRULF  LULL SHUIRUPDQ HORU Q DFHVW VHQV HVWH LL PXQFLL L D FkWLJXOXL

n cadrul celei de-a doua grupe se pune un accent deosebit pe motivarea

VDODULD LORU FD IDFWRU HVHQ LDO DO vPEXQ W QHFHVDU V ILH XUP ULWH FkWHYD HOHPHQWH FXP VXQW HYROX LD FRUHOD LHL GLQWUH GLQDPLFD SURGXFWLYLW

(salariului);
GLQDPLFD VDODULLORU vQ UDSRUW GH HYROX LD SUH XULORU EXQXULORU GH FRQVXP

curent;
UDSRUWXO GLQWUH VDODULXO PLQLP L PD[LP vQ P VXUD vQ FDUH HVWH I FXW

public); raportul dintre diferite forme de salarizare (acord, regie, mixt etc.);
UDSRUWXO GLQWUH SDUWHD IL[ L YDULDELO D VDODULXOXL XQRU FDWHJRULL GH

personal;
FRWD GH SDUWLFLSDUH D VDODULD LORU OD FDSLWDOXO VRFLDO DO vQWUHSULQGHULL (YROX LD DFHVWRU LQGLFDWRUL HVWH GH QDWXU V SXQ vQ HYLGHQ JUDGXO L GH PRWLYD LH DO SHUVRQDOXOXL SHQWUX RE LQHUHD XQRU UH]XOWDWH VXSHULRDUH Q FHHD FH SULYHWH D WUHLD JUXS  DFHDVWD HVWH FHD PDL FRPSOH[ GLILFLO FDUH YLD R GH FXDQWLILFDW 7RWXL QXPHURDVH PHQ LRQDW VWXGLL IDSWXO VRFLDO VRFLRORJLFH F DVXSUD DX LGHQWLILFDW LL

VROX LL SUDFWLFH SHQWUX YDORULILFDUHD SRWHQ LDOXOXL VDODULD LORU vQ DFWLYLWDWHD SH GHVI RDU  7UHEXLH SURGXFWLYLW LQGLYLGXOXL LQIOXHQ HD]  VRFLR IDFWRUL GH QDWXU FXP DU IL FRQGL LLOH GH HWF L VRFLDOH QRUPDOH GH PXQF 

-culturale, mediul familial, FRQGL LLOH GH PXQF

XQRU FRQGL LL V VWLPXOH]H DFWLYLWDWHD ILHF UXL DQJDMDW

$VLJXUDUHD GH F WUH DQJDMDWRU D YHQLWXUL FRUHVSXQ] WRDUH DFWLYLW VXQW GH QDWXU

LL GHSXVH SUHFXP L XQHOH IDFLOLW

$SOLFD LL L vQWUHE

UL

1. 6
Nr. crt. 1. 2. 3. 3.1.

VH DQDOL]H]H HYROX LD VWDELOLW

LL SHUVRQDOXOXL WLLQG F 

Indicatori
1XP UXO PHGLX GH SHUVRQDO ,QWU UL vQ FXUVXO SHULRDGHL 3OHF UL LHLUL vQ FXUVXO SHULRDGHL 3OHF UL GLQ PRWLYH QHMXVWLILFDWH IOXFWXD LL

An precedent 250 17 54 21

-persoane An curent 254 19 21 5

2.
PXQF

VH GHWHUPLQH FRQVHFLQ HOH XWLOL] ULL LQFRPSOHWH D WLPSXOXL GH SULQFLSDOLORU LQGLFDWRUL HFRQRPLFR ILQDQFLDUL ,QWHUSUHWDUHD

DVXSUD

rezultatelor.
Nr. crt. 1 2 3 4 5 6 7 8 9 10 11 Indicatori
3URGXF LD H[HUFL LXOXL PLL OHL 9DORDUHD DG XJDW PLL OHL

Simbol Qe Qa CA RE F Ns Nh R Cf1000 Wh

P0 10.495.800 2.099.160 10.550.000 1.250.000 3.200.000 210 1960

P1 10.732.800 2.683.200 11.200.000 1.800.000 3.600.000 215 1920

Cifra de afaceri (mii lei)

5H]XOWDWXO H[SORDW ULL PLL OHL

Suma cheltuielilor fixe (mii lei)

1XP UXO PHGLX GH VDODULD L SHUV 1XP UXO PHGLX GH RUH OXFUDWH 9DORDUHD DG XJDW H[HUFL LXOXL 3URILWXO OD  OHX FLIU GH DIDFHUL OD  OHX SURGXF LD

&KHOWXLHOL IL[H OD  OHL SURGXF LD H[HUFL L

ului (lei/1000)
D PXQFLL SH ED]D SURGXF LHL H[HUFL LXOXL

3URGXFWLYLWDWHD PHGLH RUDU FDOFXODW

(mii lei)

3.

VH GHWHUPLQH LQIOXHQ D SURGXFWLYLW LL PHGLL DQXDOH L V

LL RUDUH D PXQFLL DVXSUD

SURGXFWLYLW

minus: Wh = x mii lei . 4.

6 DVXSUD SURGXFWLYLW

VH LQWHUSUHWH]H FD]XO LQIOXHQ HL FX VHPQXO

VH GHWHUPLQH LQIOXHQ D JUDGXOXL GH vQ]HVWUDUH WHKQLF LL DQXDOH &D]XO LQIOXHQ HL FX VHPQXO  

D PXQFLL

5. &H VHPQLILFD LH Dre coeficientul de elasticitate? 6. Ce este prodXFWLYLWDWHD PDUJLQDO 7.

$QDOL]D IDFWRULDO D PXOWLSOLFDWLYH ,QWHUSUHWDUHD HFRQRPLF " LL PXQFLL XWLOL]kQG PRGHOHOH

SURGXFWLYLW

D UH]XOWDWHORU

Nr. crt. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

Indicatori Cifra de afaceri (mil lei) Valoarea medie a mijloacelor fixe (mil lei) Valoarea mijloacelor fixe active (mil lei)
3URGXF LD H[HUFL LXOXL PLO OHL 1XP UXO PHGLX GH SHUVRQDO SHUV 1XP UXO PHGLX GH PXQFLWRUL SHUV

Simbol CA MF MF Qe N Nm T Wh Qa Pr Cs F

P0 30500 20400 15300 31000 280 210 514500 59,28 10850 3050 10080 6750

P1 34000 22000 17600 33500 275 198 543400 62,57 10050 4080 10230 8840

FRQGXO WRWDO GH WLPS GH PXQF

3URGXFWLYLWDWHD PHGLH RUDU 9DORDUHD DG XJDW PLO OHL

RUH

-om)

PLL OHL

Profitul aferent cifrei de afaceri (mil lei) Cheltuieli cu personalul (mil lei) Cheltuieli fixe (mil lei)
&RPSR]L LD WHKQRORJLF D FDSLWDOXOXL IL[

MF MF
Cs1000 CF1000

Cheltuieli cu personalul la 1000 lei CA (lei/1000) Cheltuieli fixe la 1000 lei CA (lei/1000)
3URILWXO OD  OHX FLIU GH DIDFHUL

Profitul pe salariat (mil lei/pers)

Pr CA Pr N
VH VWDELOHDVF vQ SULQFLSDOLL LQ

8.

3H ED]D GDWHORU GLQ WDEHOXO GH OD DSOLFD LD QU  V SURGXFWLYLW LL RUDUH VH LQWHUSUHWH]H LQIOXHQ HOH DFHVWHLD

PRGLILFDUHD ILQDQFLDUL L V

dicatori economicoVH

9. 8WLOL]kQG LQGLFDWRULL SUH]HQWD L vQ WDEHOXO GH OD DSOLFD LD QU  V folosind modelele multiplicative.

DQDOL]H]H IDFWRULDO HILFLHQ D UHVXUVHORU XPDQH SH ED]D SURILWXOXL SH VDODULDW

10. ,QWHUSUHWD L HFRQRPLF XUP

a) IWh = 112% IT = 98% IN = 98% IRE = 107% ICA = 110% ICH = 107% IN = 95% IWz = 104% IWh = 107% IWa = 104% IWh = 101% IImax = 98% ITe = 102% IKi = 104% IKe = 103% INz = 94% IWh = 108% IWa = 109% unde:
:K

WRDUHOH VLWXD LL

D PXQFLL

SURGXFWLYLWDWHD RUDU

T unde:

IRQGXO WRWDO GH WLPS GH PXQF

b)

N QXP UXO PHGLX GH SHUVRQDO RE = rezultatul exploDW ULL CA = cifra de afaceri CH = cheltuielile aferente cifrei de afaceri
:] SURGXFWLYLWDWHD PHGLH ]LOQLF D PXQFLL D PXQFLL

c)

unde:

d) e)

unde: unde:

Wa = productivitatea meGLH DQXDO

f)

unde:

Tmax = timpul maxim disponibil Te = timpul efectiv lucrat Ki Ke Nz =

FRHILFLHQWXO LQWU ULORU GH SHUVRQDO FRHILFLHQWXO SOHF ULORU GH SHU

g)

unde:

sonal

h)

unde:

QXP UXO PHGLX GH ]LOH OXFUDWH GH R SHUVRDQ

ntr-un an

7
ANALIZA GESTIUNII ACTIVELOR FIXE
(ILFLHQ D HVWH DVLJXUDW DO F UXL L YLDELOLWDWHD XQHL ILUPH vQWU R HFRQRPLH FRQFXUHQ LDO 

L GH P VXUD vQ FDUH DFHDVWD GLVSXQH GH XQ SRWHQ LDO PDWHULDO WHKQLFL L IXQF LRQDOL FRUHVSXQG QRLORU H[LJHQ H DOH  RIHUH ILUPHL SRVLELOLWDWHD UHDOL] ULL XQHL

SDUDPHWUL

HFRQRPLHL GH SLD

$FHDVWD SUHVXSXQH H[LVWHQ D XQRU PLMORDFH WHKQLFH FRUHVSXQ] WRDUH FD YROXP VWUXFWXU  FDOLWDWH FDUH V SURGXF LL FDUH V L HILFLHQWH 3ULQFLSDOHOH SUREOHPH DOH DQDOL]HL XWLOL] ULL PLMORDFHORU DFWLYHORU IL[H VXQW XUP WRDUHOH DQDOL]D YROXPXOXL vQ VWUXFWXULL L IL[H FDOLW LL SRWHQ LDOXOXL L L WHKQLF D D DO ILUPHL vQ vQ PDWHULDOL]DW DQDOL]D PLMORDFH WHKQLF SDWULPRQLDOH IL[H UHIOHFW ULL UHIOHFW ULL DVLJXUH QHYRLOH SLH HL LQWHUQH L LQWHUQD LRQDOH FRPSHWLWLYH

performaQ HOH GH ED]

SRWHQ LDOXOXL

DOH ILUPHL PLMORDFHORU

SHUIRUPDQ HOH HFRQRPLF

-financiare ale firmei;

DQDOL]D HILFLHQ HL XWLOL] ULL PLMORDFHORU IL[H FDSLWDOXOXL IL[

 $QDOL]D GLQDPLFLL L VWUXFWXULL SRWHQ LDOXOX

i tehnic
D IL VWDELOLW DWkW

Dinamica mijloacelor (activelor) fixe

$FHDVW LDU SH GH DOW DQDOL] SDUWH GDU L D FRQFXUHQ HL FDUH VHVL]HD] OHJ WXUD FX

VH UHFRPDQG LQWHUQ SH

SH ED]D YDORULL GH LQYHQWDU FkW L SH VHDPD YDORULL PHGLL DQXDOH HVWH vQ JHQHUDO R SUREOHP GLQDPLFD D vQWUHSULQGHULL FDUH OH SURGXFH SH GH R SDUWH PDWHULDOL]DUHD LQYHVWL LLORU HIHFWHORU

Aceasta presupune interesul agentului economic privind capacitatea de

ILQDQ DUH YLV D YLV GH FRQFXUHQ LL FHORUODO L DJHQ L L H[WHUQ HFRQRPLFL FX DFHODL SURILO L GH SHQHWUDUH SH SLD D LQWHUQ D SURGXVHORU VDOH  GH LQYHQWDU FkW L YDORDUHD Q DQDOL]D GLQDPLFLL YDORULFH D PLMORDFHORU IL[H VH DUH vQ YHGHUH DD FXP VH SUHFL]D DQWHULRU DWkW YDORDUHD LQL LDO IOXFWXD LLORU SUH XULORU FD HIHFW DO LQIOD LHL Q DQDOL]D GLQDPLFLL PLMORDFHORU IL[H VH XUP UHWH HYROX LD YDORULL PHGLL VDX D YDORULL GH LQYHQWDU SH R DQXPLW SHULRDG  SH WRWDO L SH

medie, acestea fiind actualizate, ntruct efectele economice sunt supuse

principalele categorii dH
SURFHVXO GH SURGXF LH 'H FRUHODW SULQFLSLX VH

PLMORDFH IL[H R DWHQ LH GHRVHELW

VH YD GD DFHORU vQ PRG GLUHFW OD IL[H V ILH

FDWHJRULL GH PLMORDFH IL[H SURGXFWLYH GHFL FDUH SDUWLFLS UHFRPDQG FD GLQDPLFD

PLMORDFHORU

FX HIHFWHOH SH FDUH OH SURGXFH F &X DMXWRUXO IXQF LHL GH

oncretizate n indicatori de rezultate

VH SRDWH IDFH R H[WUDSRODUH D PDL vQ

DL vQWUHSULQGHULL FD FLIUD GH DIDFHUL YDORDUHD DG XJDW  SURILWXO EUXW HWF UHJUHVLH HIHFWXOXL YDORDUHD SUREDELO VLWXkQGX-se ntr-R ]RQ FX DPSOLWXGLQH mDUH VDX PDL PLF  ID GH YDORDUHD VHULHL WHRUHWLFH Structura mijloacelor fixe vQGHSOLQHWH R IXQF LH LPSRUWDQW D RULHQWD HIRUWXO LQYHVWL LRQDO F WUH DFHOH FDWHJRULL

DQDOL]D HILFLHQ HL JHQHUDOH D DFHVWRUD FkW L D DFWLYLW SDUWLFLS

LL WRWDOH L DUH UROXO GH

de mijloace fixe ce

QHPLMORFLW OD RE LQHUHD SURGXVHORU ILQLWH D OXFU ULORU VHUYLFLLORU HVWH GHILQLW vQ OLWHUDWXUD GH VSHFLDOLWDWH FD DOH

etc.
2 DVHPHQHD VWUXFWXU ILLQG FRPSR]L LD WHKQRORJLF D FDSLWDOXOXL IL[ D FDSLWDOXOXL IL[ L HIHFWHOH GH ED] OHJ WXUL DWkW GH WLS GHWHUPLQLVW FkW L GH QWUH FRPSR]L LD WHKQRORJLF SHUIRUPDQ HL vQWUHSULQGHULL H[LVW

tip aleatoriu. Astfel, cu ct este mai mare ponderea mijloacelor fixe active, cu att
HVWH PDL SXWHUQLF VFDG  &D HIHFW GHWHUPLQLVW VH SRDWH IRORVL XUP WRDUHD UHOD LH LQIOXHQ D H[HUFLWDW DVXSUD XQRU LQGLFDWRUL GH HILFLHQ GXS FDUH HILFLHQ D vQFHSH V D PLMORDFHORU IL[H H[LVWkQG GHVLJXU R OLPLW

E 1 E = g Mf 100 Mfa

sau
Ir = Is Ia 100
YROXPXO SURGXF LHL

n care: g E Mf Mfa Ir Is Ia tabelul 7.1.

= ponderea mijloacelor fixe (productive);

HIHFWXO XWLOL]DW vQ FDOFXOXO GH HILFLHQ YDORDUHD DG XJDW  SURILWXO EUXW HWF

= valoarea medie a mijloacelor fixe; = valoarea medie a mijloacelor fixe active;

LQGLFHOH HILFLHQ HL PLMORDFHORU IL[H

= indicele structurii mijloacelor fixe active; = indicele randamentului mijloacelor fixe active.
LPSOLF LQIRUPD LLOH FXSULQVH vQ

([HPSOLILFDUHD PHWRGRORJLF

Tabelul nr. 7.1 Nr. crt. 1. 2. 3. 4. 5. 6. Perioada INDICATORI Cifra de afaceri (mil.lei) Valoarea medie a mijloacelor fixe (mil.lei) - din care, productive (mil.lei) Ponderea mijloacelor fixe productive (%) Cifra de afaceri la 1000 lei mijloace fixe lei Randamentul mijloacelor fixe active lei
8WLOL]kQG UHOD LD H[SOLF DVWIHO
SUHFHGHQW

Perioada
FXUHQW

% +495 +100 +100 +4 +90 -160,71 127,5 125,0 131,25 105 102 97.14

(0) 1.800 400 320 80 4.500 5.625

(1) 2.295 500 420 84 4.590 5.464

Ir =

Is Ia  PRGLILFDUHD HILFLHQ HL PLMORDFHORU IL[H VH 100

LQIOXHQ D VWUXFWXULL PLMORDFHORU IL[H DFWLYH

Ir 100 = 102 100 = +2%, din care: ,V 100 = 105 100 = +5%

LQIOXHQ D LQGLFHOXL UDQGDPHQWXOXL PLMORDFHORU IL[H SURGXFWLYH DFWLYH

=
5H]XOW F

Is Ia 105 97,14 Is = 105 = 3% 100 100

VSRULUHD FLIUHL GH DIDFHUL FH UHYLQH OD  OHL PLMORDFH

fixH

FX  OHL HVWH UH]XOWDWXO SH GH R SDUWH DO FUHWHULL SRQGHULL PLMORDFHORU

IL[H

DFWLYH

GH

OD

  

OD

 SH

LQIOXHQ kQG GH DOW

IDYRUDELO

HILFLHQ D

FX

 D

OHL

UHVSHFWLY

LDU

SDUWH

LQIOXHQ HL

QHIDYRUDELOH

HILFLHQ HL PLMORDFHORU IL[H DFWLYH FD

re a determinat o reducere a cifrei de afaceri la 1000 lei mijloace fixe cu 135 lei, respectiv 3%.
'H DLFL FRQFOX]LD IL[H F vQWUHSULQGHUHD QX SH D UHDOL]DW R vPEXQ W QRL LUH D PLMORDFHORU SURGXFWLYH FDOHD LQYHVWL LLORU FDUH

VWUXFWXULL

presupun active IL[H FX UDQGDPHQWH VXSHULRDUH DWkW FDQWLWDWLY FkW L FDOLWDWLY

FL SH FDOHD XQRU WUDQVIHUXUL FRPDV UL FDUH LPSOLF X]XU PDUH (VWH RSRUWXQ GLQ SXQFW GH YHGHUH DO DQDOL]HL L XUP ULUHD VWUXFWXULL PLMORDFHORU IL[H SH YkUVW  FDUH HYLGHQ LD] QLYHOXO ED]HL WHKQLFH D PLMORDFH IL[H FX JUDG GH

SURGXF LHL GLQDPLFD SURFHVXOXL GH vQORFXLUH UHvQQRLUHD L O UJLUH D HL 'H DVHPHQHD SUH]LQW LQWHUHV L VLWXD LD PRGHUQL] ULL XWLODMHORU

(utilaje modernizate, utilaje vechi, utilaje nemodernizate). Starea mijloacelor fixe VH DSUHFLD] FX DMXWRUXO indicatori:
OD vQFHSXWXO SHULRDGHL L VIkULWXO SHULRDGHL FRQIRUP UHOD LHL

XUP WRULORU

JUDGXO GH X]XU  FDUH VH VWDELOHWH SH WRWDO PLMORDFH IL[H L SH FDWHJRULL

amortizarea mijloacelor fixe valoare de inventar Cu ct valoarea gradului de uzXU VH UHGXFH VWDUHD PLMORDFHORU grad de uzur =
VH vPEXQ W HWH UHOD LD JUDGXO GH UHvQQRLUH FDUH VH VWDELOHWH GXS

IL[H

valoarea mijloacelor fixe noi intrate prin investitii valoarea medie a mijloacelor fixe 6WDUHD PLMORDFHORU IL[H VH DSUHFLD] DWkW SULQWU-R DQDOL] VHSDUDW D DFHVWRU GRL LQGLFL FkW L SULQWU-R DQDOL] FRUHODW D DFHVWRUD GLQDPLFD grad de rennoire =
FRHILFLHQWXOXL GH UHvQQRLUH V GH X]XU  'H UHJXO  FRHILFLHQWXO GH UHvQQRLUH HYLGHQ LD] vQORFXLUHD ILH FkW PDL DSURSLDW GH DFHHD D FRHILFLHQWXOXL

PLMORDFHORU IL[H YHFKL FX FHOH QRL FDUH SUHVXSXQ SHUIRUPDQ H VXSHULRDUH

Dar acest proces de rennoire nu poate fi limitat numai la raportul valoric, ci

WUHEXLH vQWUHJLW FX DVSHFWH OHJDWH GH SHUIRUPDQ H FDUH LQIOXHQ HD] L FDOLWDWLY vQWUHDJD DFWLYLWDWH HFRQRPLF FDQWLWDWLY D vQWUHSULQGHULL UDQGDPHQW GXUDW

GH IXQF LRQDUH VDWLVIDFHUHD FHULQ HORU HFRQRPLFH HWF

 $QDOL]D XWLOL] 2 DVHPHQHD

ULL SRWHQ LDOXOXL WHKQLF PLMORDFHORU IL[H YL]HD] XWLOL]DUHD SDUWH XWLOL] ULL WLPSXOXL GH OXFUX DO H[WHQVLY L LQWHQVLY D

DQDOL]

PLMORDFHORU IL[H FRUSRUDOH SH GH R SDUWH L UHIOHFWDUHD DFHVWRUD vQ LQGLFDWRULL GH SHUIRUPDQ Q DL vQWUHSULQGHULL SH GH DOW SHQWUX DSUHFLHUHD DQDOL]D

HFKLSDPHQWXOXL LQGXVWULDO VH IRORVHVF XUP WRULL LQGLFDWRUL JUDGXO GH SURJUDPDUH L IRORVLUH D IRQGXOXL GH WLPS FDOHQGDULVWLF

gradul de utilizare a fondului de timp maxim disponibil.

,QGLFDWRULL DPLQWL L VH GHWHUPLQ GXS XUP WRDUHOH UHOD LL

gradul de programare:
Gp =

Tmax T0 gradul de folosire a fondului de timp maxim disponibil: T G max = 1 Tmax gradul de folosire a fondului de timp disponibil: T Gf = 1 T0 Acest lucru se poate analiza la nivelul echipamentului industrial, pe
JUXSH GH XWLODMH VDX OD QLYHOXO ILHF UXL XWLODM LQGXVWULDO Q FRQGL LLOH SUHOXFU ULL DXWRPDWH D GDWHORU VH FUHHD] SRVLELOLWDWHD IRORVLULL

ca centrele de suprDYHJKHUH
D DFHVWRU LQGLFDWRUL L

L UHJODUH V FDUH DX

RIHUH LQIRUPD LL LPHGLDWH L H[DFWH GHWHUPLQDW QHvQFDGUDUHD

FDX]HOH

WLPSXOXL GH OXFUX DO XWLODMHORU vQ SDUDPHWULL VWDELOL L

mai aproape de cel maxim disponibil, ntruct se va concretiza favorabil n

YROXPXO SURGXF LHL H[HFXWDWH DWkW FDQWLWDWLY FkW L VXE UDSRUWXO FDOLWDWLY &DX]HOH IUHFYHQWH FDUH GHWHUPLQ XWLOL]DUHD LQFRPSOHW PHFDQLFH IL[H L D IRQGXOXL GH OLSVD GH L vQ GH

&HULQ D HVWH FD JUDGXO GH IRORVLUH D WLPSXOXL GH OXFUX V

ILH FkW

timp maxim disponibil sunt: defecWHOH

)RORVLUHD H[WHQVLY D

HOHFWULFH

PDWHULDOH OLSVD GH FRPHQ]L SUHOXQJLUHD WLPSXOXL SHQWUX UHSDUD LL HWF PLMORDFHORU FRUSRUDOH GH SUHVXSXQH VH DLE UDQGDPHQW UHVSHFWDUHD UHJLPXOXL VFKLPE ULORU vQ VWDELOLUHD F UXLD WUHEXLH V

vedere UHVWULF LLOH OHJDWH GH GHVI XUDUHD economicitate n consumul energiei etc. parcului inventar.

SURGXF LHL

'H DVHPHQHD VH XUP UHVF DVSHFWHOH OHJDWH GH JUDGXO GH IRORVLUH D

3HQWUX QHFHVDU R SULQFLSDOLORU

HYDOXD

PDL D

FRUHFW

LPSRUWDQ D WLPSXOXL GH

XWLOL] ULL OXFUX

H[WHQVLYH

HVWH

FXDQWLILFDUH LQGLFDWRUL

IRORVLULL

XWLODMHORU

DVXSUD

DL

SHUIRUPDQ HORU

HFRQRPLFR

-financiare, utiliznd
RE LQXW  GHVWLQDW

XUP WRDUHOH UHOD LL

1. DVXSUD PRGLILF

ULL YDORULL SURGXF LHL PDUI

IDEULFDW

ii): N1 (t1 t 0 ) rh 0 ,
QXP UXO GH XWLODMH unde: N QXP UXO GH RUHXWLODM t r h = randamentul mediu orar. 2. DVXSUD PRGLILF ULL YDORULL DG XJDWH DIHUHQWH SURGXF LHL IDEULFDWH Qa N1 (t1 t 0 ) rh 0 0 Qf 0 3. asupra modifiF ULL FLIUHL GH DIDFHUL DIHUHQWH DFWLYLW LL GH ED]  CA 0 N1 (t1 t 0 ) rh 0 Qf 0 4. asupra sumei profitului brut CA 0 N1 (t1 t 0 ) rh 0 r0 , Qf 0 Pb n care: r0 = 0 CA0 5. DVXSUD FKHOWXLHOLORU FX DPRUWL]DUHD OD  OHL SURGXF LH PDUI IDEULFDW A0 A0 1000 1000 N1 t1 rh 0 N1 t 0 rh 0 $QDOL]D XWLOL] ULL LQWHQVLYH D PLMORDFHORU IL[H SRDWH IL FDUDFWHUL]DW FX DMXWRUXO XUP WRULORU LQGLFDWRUL LL GH SURGXF LH FDUH VH GHWHUPLQ UHVSHFWLY RE LQXW L FHD PD[LP 

OLYU U

(a)
FD UDSRUW

JUDGXO GH XWLOL]DUH D FDSDFLW vQWUH SURGXF LD SUHY ]XW L

FRQIRUP UHOD LHL

Cp =

Q Q max

6H GHWHUPLQ

XQ JUDG GH XWLOL]DUH SURJUDPDW

Q0 Q max

L XQ JUDG GH

Q1 utilizare efectiv  Q max

LQGLFDWRULL GH SHUIRUPDQ

GHRDUHFH IRORVLUHD LQWHJUDO

VH FRQFUHWL]HD]

vQ

DL vQWUHSULQGHULL  FDUH VH GHWHUPLQ FRQIRUP UHOD LHL

(b) LQGLFHOH GH XWLOL]DUH LQWHQVLY

In =

unde: In LQGLFHOH GH XWLOL]DUH LQWHQVLY  Q = volumul SURGXF LHL K FDUDFWHULVWLFD GLPHQVLRQDO D XWLODMXOXL T WLPSXO GH IXQF LRQDUH D XWLODMXOXL
'H DVHPHQHD VH GHWHUPLQ FRPSOHWH D FDSDFLW LL HYLGHQW OD XQ LQGLFH GH XWLOL]DUH LQWHQVLY D SURJUDPDW L XQXO HIHFWLY SHQWUX D VHVL]D FDUH VXQW UH]HUYHOH IRORVLULL LQkQGX VH VHDPD GH FHUHUHD SH SLD

Q KT

SURGXF LHL FDUH VH UHIHU IRORVLUHD FDSDFLW

H[LVWHQ D XQRU ORFXUL vQJXVWH LORU QRL LQWUDWH vQ IXQF LXQH H[LVWHQ D XQRU GHIHF LXQL vQ DSURYL]LRQDUHD FX PDWHULDOH GHS LUHD WHUPHQXOXL DIHUHQW UHSDUD L $FHVW LQGLFDWRU VHVL]HD] SDUDPHWULL vQ SURLHFWD L OLPLWHOH GDF

ilor etc.
XWLODMXO UHVSHFWLY IXQF LRQHD] IXQF LRQDUH FH DX DO XWLODMXOXL VH VH VDX GHWHUPLQDW DFHDVW GH

IDSWXO GDF WLPSXO L

OD

vQFDGUHD] UHIOHFW

SUHY ]XWH

FDX]HOH

nencadrare etc, lucru foarte importaQW vQWUXFkW DFHDVW

vQ FDQWLWDWHD L FDOLWDWHD SURGXF LHL RE LQXWH

XWLOL]DUH LQWHQVLY FDQWLWDWHD IL]LF

(c) randamentul utilajelor fie n QXP

FDUH

UHSUH]LQW

YDORULF  GH SURGXF LH SH XQLWDWH D IDFWRUXOXL

XWLOL]DW FDUH SRDWH IL H[SULPDW

UXO GH HFKLSDPHQWH XWLODMH ILH SULQ WLPSXO GH OXFUX DO DFHVWRUD

5HOD LD GH GHWHUPLQDUH D UDQGDPHQWXOXL XWLODMHORU HVWH

r=
n care: r Q N T

Q N

sau

Q T

= randamentul mediu (anual sau pe unitate de timp);

YDORDUHD SURGXF LHL QXP UXO G

e utilaje;

WLPSXO GH IXQF LRQDUH DO XWLODMHORU

,QHJDOLWDWHD GLQWUH UDQGDPHQWXO HIHFWLY L FHO SURJUDPDW VDX FHO DO SHULRDGHL SUH XULORU 6H SUHFHGHQWH DWXQFL SRDWH FkQG H[SULP QX HVWH L HILFLHQ D DVLJXUDW XWLOL] ULL R HFKLSDPHQWHORU D LDU vQ

cazul randamentului valoric intervine modificarea structurLL

IRORVLWH vQ H[SULPDUHD SURGXF LHL GHWHUPLQD UDQGDPHQWXO PDUJLQDO FDUH

SURGXF LHL L D SUH XULORU HJDO FX

FRPSDUDELOLWDWH

HVWH

UDSRUWXO GLQWUH YDULD LD SURGXF LHL 4 L YDULD LD IDFWRUXOXL XWL ULJXURDV  /HJ WXUD UHSUH]HQWDW GLQWUH PRGXO GH XWLOL]DUH H[WHQVLY L

lizat (X), care

HVWH

are mai mult caracter conceptual PDQDJHULDO L PDL SX LQ IRORVLUH SUDFWLF

LQWHQVLY SULQ YDORDUHD SURGXF LHL H[SULPDW vQ IXQF LH GH QXP UXO GH

utilaje, timpuO PHGLX OXFUDW GH XQ XWLODM L UDQGDPHQWXO PHGLX 8WLOL]kQG UHOD LD Q = N t r  PRGLILFDUHD YDORULL SURGXF LHL FD HIHFW
DO XWLOL] ULL H[WHQVLYH L LQWHQVLYH VH H[SOLF

Q1 Q0 = 135615,36 615,36 150.000 = -14.384,64 mil.lei infOXHQ D QXP UXOXL GH XWLODMH (N1 N 0 )t 0 r 0 = (46 50) 6.000 500.000 = 12.000 mil.lei LQIOXHQ D QXP UXOXL PHGLX de ore utilaj pe utilaj: N1 t1 t 0 r 0 = 46(5.920 6.000 ) 500.000 = 1.840 mil lei

DVWIHO

N1 t1 r1 r 0 = 46 5.920(498.000 500.000 ) = 544.640 mil.lei 6H FRQVWDW F VXQW UH]HUYH QHIRORVLWH DWt din punct de vedere al
XWLOL] ULL H[WHQVLYH FkW L GLQ SXQFW GH YHGHUH LQWHQVLY &DX]HOH FDUH SRW GHWHUPLQD DVHPHQHD VLWXD LL SRW IL QHPRQWDUHD XWLODMHORU H[LVWHQWH GH L UHVSHFWLY D QHIXQF LRQDUHD QHFHVDUH FHORU

LQIOXHQ D UDQGDPHQWXOXL PHGLX SH RU 

instalate;
GHS LUHD WHUPHQXOXL H[HFXWDUH LQYHVWL LLORU DIHUHQWH KDOHORU vQ FDUH WUHEXLHVF LQVWDODWH XWLODMHOH DFKL]L LRQDWH IRORVLUHD LQFRPSOHW OLSV OLSV SLHVH GH HQHUJLH HWF FX UHSHUFXVLXQL L QHJDWLYH DVXSUD D WLPSXOXL GH OXFUX DO XWLODMHORU GLQ GLIHULWH FDX]H DSURYL]LRQDUHD GHIHFWXRDV FX PDWHULL SULPH VFKLPE

folRVLUHD QHUD LRQDO D XWLODMHORU randamentului mediu etc.;

2 SUREOHP LPSRUWDQW R VXSUDIH HORU GH SURGXF LH

FRQVWLWXLH

XWLOL]DUHD

HILFLHQW

$QDOL]D

XWLOL] ULL

HILFLHQWH

VXSUDIH HORU

GH

SURGXF LH

VH

SRDWH

realiza folRVLQG XUP Q N1 t r I. = S S

WRDUHOH PRGHOH

&RQIRUP DFHVWHL UHOD LL PRGHOXO IDFWRULDO VH SUH]LQW

DVWIHO

S
Q S

N t N r t r

II. n care:

Q N T Q N = = tr S S N T S

N S

JUDGXO GH vQF UFDUH DO VXSUDIH HORU GH SURGXF LH QXP UXO GH

utilaje ce revin la 100 sau 1000 m2).

DVWIHO

0RGHOXO IDFWRULDO VH SUH]LQW

Q S
F XQ DVHPHQHD

N S t r
PRGHO VHVL]HD] QX QXPDL GDF

'H

PHQ LRQDW

vQWUHSULQGHUHD D UHVSHFWDW JUDGXO GH XWLOL]DUH DO VXSUDIH HORU GH SURGXF LH JUDG FDUH LPSOLF UHJXOLORU DF LXQH GH RUH SULYLQG GLUHFW SH SH OkQJ SURWHF LD L UHVSHFWDUHD SDUDPHWULORU SURLHFWD L L UHVSHFWDUHD ORFXOXL GH PXQF  R FL L LPSOLFD LLOH FD D DFHVWRU GH LL L FDOLW LL SURGXF LHL RE LQXWH IDFWRU FX

QHUHVSHFW UL DVXSUD FDQWLW FkW

LQIOXHQ D

LQGLUHFW

QHUHVSHFWDUH DVXSUD

JUDGXOXL LL

vQF UFDUH D VXSUDIH HORU GH SURGXF LH DUH LPSOLFD LL DVXSUD QXP UXOXL PHGLX XWLODM DVXSUD UDQGDPHQWXOXL PHGLX FDOLW SURGXF LHL RE LQXWH

0RGLILFDUHD XWLODMHORU VH

FUHWHUHD vQ

VDX

VF GHUHD LQGLFDWRUL

UDQG

UHIOHFW

XUP WRULL

HFRQRPLFR

amentului mediu al -financiari ai

ntreprinderii: (1) $VXSUD YDORULL SURGXF LHL IDEULFDWH T1 (r1 r0 ) (2) $VXSUD YDORULL DG XJDWH DIHUHQWH SURGXF LHL PDUI Qa sau n mod direct: T1 (r1 r0 ) 0 Qf 0 T1(r1 r0), n care:
r= Qa T

IDEULFDW

(3)

$VXSUD FLIUHL GH DIDFHUL DIHUHQWH DFWLYLW

LL GH ED] 

T1 (r1 r0 )

CA 0 Qf 0

(4) (a)

$VXSUD SURILWXOXL DIHUHQW SRWHQ LDO

SULQ YDORDUHD SURGXF LHL PDUI 

T1 (r1 r0 ) pr0

n care:
pr0 = 1

q 0c 0 q 0p0

(b) prin intermediul cheltuielilor cu amortizarea:

A0 A0 Tr Tr 10 11

q1p1

(5)

$VXSUD FRVWXULORU FX DPRUWL]DUHD OD  OHL SURGXF LH PDUI 

A0 A0 Tr Tr 1000 10 11 (6) Asupra profitului brut aferent cifrei de afaceri din activitatea de
ED] 

(a) prin valoarea cifrei de afaceri

T1 (r1 r0 )

CA0 pr0 Qf 0

(b)

SULQ LQWHUPHGLXO FKHOWXLHOLORU OD  OHX FLIU

q 0c 0 q 0c 0 T r T r q1p1 10 11
r=

GH DIDFHUL

n care:

qp
T

(c) prin costurile cu amortizarea A0 A0 CA 0 Qf 0 Qf Tr Tr 10 0 11

 $QDOL]D HILFLHQ HL XWLOL]

ULL DFWLYHORU

fixe

3HQWUX FDUDFWHUL]DUHD HILFLHQ HL XWLOL] ULL PLMORDFHORU IL[H FDSLWDOXUL IL[H VH XWLOL]HD] XQ VLVWHP GH LQGLFDWRUL FDUH VXUSULQG PXOWLSOH HIHFWH DOH XWLOL] ULL HILFLHQWH D PLMORDFHORU IL[H L DQXPH D YDORDUHD SURGXF LHL IDEULFDWH FH UHYLQH O LQGLFDWRU FH VH FRUHOHD] ED]D UHOD LHL

a 1000 lei mijloace fixe

SH

FX FDSDFLWDWHD GH SURGXF LH FDUH VH GHWHUPLQ

Qf 1000 Mf
E YDORDUHD DG XJDW UHOD LHL FH UHYLQH OD  OHL PLMORDFH IL[H FRQIRUP

SURGXF LHL GH D FUHD L DG XJD

Qa 1000 , indicator ce Mf

UHIOHFW

OHJ WXUD

GLQWUH

FDSDFLWDWHD

IDFWRULORU

YDORDUH EXQXULORU L VHUYLFLLORU DFWLYLW LL GH ED] FH UHYLQH OD  OHL

F FLIUD GH DIDFHUL DIHUHQW

IL[H L UH]XOWDWHOH ILQDOH DOH DFWLYLW DVSHFWHORU FDOLWDWLYH DOH

mijloace fixe: CA 1000  FDUH HYLGHQ LD] Mf

OHJ WXUD GLQWUH XWLOL]DUHD HILFLHQW

D PLMORDFHORU

LL GH SURGXF LH GHFL QX QXPDL FRUHOD LD FRQFUHWL]DWH vQ UHGXFH

GLQWUH XWLOL]DUHD PLMORDFHORU IL[H vQ FDSDFLWDWHD GH SURGXF LH FL L DVXSUD SURGXF LHL

rea soldurilor

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d) profitul brut ce revine la 1000 lei mijloace fixe: Pr 1000 LQGLFDWRUL FDUH UHIOHFW PRGXO vQ FDUH HILFLHQ D Mf
vPEXQ W LUHD FDOLW LL SURGXF LHL IL[H SH D FLIUHL GH DIDFHUL FX UDSRUWXO FHUHUH RIHUW 

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Nr. crt. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Indicatori
1XP UXO GH XWLODMH 1XP UXO GH RUH SH XWLODM RUH

Simbol N t rh0 Qf
SURGXF LHL

P0 124 14200 1200 2112,96 845 2400 480 0,2 5 6000

P1 132 15700 1260 2611,224 1175 2680 482,4 0,18 4 6500

PRGLILFDUHD

Randamentul mediu orar (lei)

3URGXF LD IDEULFDW 9DORDUHD PLO OHL DIHUHQW DG XJDW

fabricate (mil lei) Cifra de afaceri (mil lei) Suma profitului (mil lei)
3URILWXO OD  OHX FLIU GH DIDFHUL

Qa CA Pb r

Cheltuieli cu
SURGXF LH PDUI

amortizarea
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la 1000 lei )
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VXSUDIH HORU

GH

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ului mediu orar asupra r = - x mil lei.

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ANALIZA GESTIUNII RESURSELOR MATERIALE
ntr-R
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necesare. Practic, intervin o serie de factori (care nu sunt numai de ordin economic)
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procesului general de gestionare a resurselor materiale.

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vedere probleme referitoare la: oferta furnizorilor, pentru selectarea lor

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a se aproviziona cu resurse materiale,

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principalele resurse
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materiale
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e are firma de a-L

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vQ

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ructura
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model prezentat n tabelul 8.1

Tabelul 8.1
din care: din care: import 2 700 1.110 10 1 15 1.836
 GLQ WRWDOXO  DSURYL]LRQ ULORU FHHD FH SLD

Nr. crt. 0 1 2 3 4 5 6

Denumirea principalelor materii prime X A B C D E Total

U/M Z to to to to to to

Aprovizionat n perioada .. 1 2.700 1.140 150 1.126 145 5.261

export 3 2.000 30 140 1.125 130 3.425

F1 4 1.800 30 140 120 2.090

F2 5 150 1.100 10 1.260

F3 6 50 25 75

Din datele respective rezult

LPSRUWXO vQVHDPQ DQXPLW UHSUH]LQW SHVWH  GHSHQGHQ D ID SLD D LQWHUQ HVWH VHJPHQWDW H[LVW

GH DFHDVW

SH PDL PXO L IXUQL]RUL ILHFDUH GH LQkQG R PDL PXOWH VXUVH GH DSURYL]LRQDUH FHHD FH vQ SRVLELOLWDWHD DVLJXU ULL UHVXUVHORU

SRQGHUH vQ DSURYL]LRQDUHD PDWHULDOHORU R DQXPLW JDUDQ LH

pentru fiecare materiDO

FRQVWLWXLH

materiale.
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evaluarea necesarului de aprovizionat ntr-un interval de timp (col.1) iar coloanele 2- V FXSULQG FDQWLW LOH FRQWractate sau posibile de contractat.
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obiectivelor strategice.

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FDUDFWHUL]DW

-un interval de timp; prin elemente specifice GRPHQLXOXL

materialelor);
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D IXUQL]RULORU

Tabelul 8.2


Nr. crt.



solicitat de furnizori 2 900.000 850.000

Cantitatea Mode de

 
   

mediu realizat - lei 1 800.000

livrat ntr-un lot min. 3 100 200 max. 4 4.500 8.000



Calitate n raport de necesar

 
   

0 1.

A material A F1 F2

5 Cec virament

6 superior corespunde

7 transp. CFR transp. CFR+ + auto ... transp. CFR + auto

... Fn

... 870.000

... 50

... 6.000

... Cec sau dispo    

... inferior

!#" $&%

1RW

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vQ SHULRDGD DQWHULRDU  VLWXD LH GHWHUPLQDW FRQVHFLQ  RS LXQHD SHQWUX DQXPL L

GH IDFWRUL VSHFLILFL SHULRDGHL Q VH YD ED]D SH FRUHODUHD LL

IXUQL]RUL

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asupra

consumului

specific,

cheltuielile

de

transport-aprovizionare,

GLVIXQF LRQDOLW

LOH OLYU ULORU HWF

 $QDOL]D UHDOL]

ULL SURJUDPXOXL GH DSURYL]LRQDUH L DVLJXUDUH

a necesarului de consum
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ei.

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pe mai multe probleme, cum ar fi: acoperirea cu contracte a necesarului de aprovizionat;

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resurse materiale; asiguUDUHD QHFHVDUXOXL SHQWUX SURGXF LH Activitatea de vnzare-FXPS UDUH WUHEXLH
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ntr-R
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UHWURVSHFWLY

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e parcursul perioadei. n
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este

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necesarului de resurse, datele pot fi prezentate potrivit modelului din tabelul 8.3.
Tabelul 8.3
Nr. crt. 1. 2. 3. 4. 5. 6. Denumirea materialelor principale A B C D E Total U/M to to to to to to Necesar de aprovizionat 2.000 130 40 120 50 2.340
FXPXODW

Contractat la nceputul* Tr. I 1.500 35 40 30 1.605 Tr.II 2.000 125 40 130 40 2.230 Tr.III 2.000 125 40 130 40 2.335 Tr.IV 2.000 125 60 150 40 2.375

3H WULPHVWUH VH SUH]LQW

5H]XOW

SH WRWDO OD vQFHSXWXO WULPHVWUXOXL , HUD FRQWUDFWDW   IDSW FH DWHVW

GLQ

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R VLWXD LH

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elementele specifice.
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activitatea de aprovizionare nu treEXLH

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VSHFLDOL]DWH L DFHVWHD SRDUW

ectivelor
GH

stabilite.
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asemenea, este

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care sunt materialele la care la data de ... nu s-au ndeplinit

REOLJD LLOH FRQWUDFWXDOH"

care sunt furnizorii?

FH FDQWLW FH FDQWLW FH FDQWLW L YDORUL GH PDWHULDOH VXQW L V

restante?
LQWUH vQ XUP WRDUHOH

-au livrat n plus?

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L SH IHOXUL GH PDWHULDOH WUHEXLH V

... zile?
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aprovizionare.
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dHUXO

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Denumire material: A
Tabelul 8.4 Nr. crt. 1. 2. 3. 4. 5.
1RW WULPHVWUXO
,QWU UL

U/M kg. kg. kg. kg.

Data 5 18 28 x
VH IDFH

&DQWLW

I II III

400 400 600 1.400

DQDOL]D VH

Asigurarea necesarului zile FDQWLW 3 120 10 400 10 400 2 80 25 1.000

DOHJH vQ

Stoc
L LQL LDO

120 120
GH

final 520 520

: Necesar lunar 1.200 Kg; necesar zilnic 40 kg; perioada (luna,

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IDSWXO F

 .J DFHVWD D IRVW DVLJXUDW vQ SURSRU LH GH

numai 83% (1000/1200 respectiv a nereVSHFW

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GH SHVWH  RUL 2 DVHPHQHD VLWXD LH HVWH HIHFWXO QHULWPLFLW

ULL GH F WUH IXUQL]RUL D WHUPHQHORU GH OLYUDUH 2U vQ

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8.3 Analiza stocurilor de materiale

3ULQ QDWXUD OXL RULFH VWRF GH PDWHULDOH UHSUH]LQW R LPRELOL]DUH GH

YDORUL GH FDSLWDO )XQF LLOH SH FDUH OH vQGHSOLQHVF vQ SURFHVXO FLUFXOD LHL FDSLWDOXOXL GHWHUPLQ SROLWLFD SH FDUH R DGRSW ILUPD vQ JHVWLXQHD VWRFXULORU

de materiale, vQ FDUH GLPHQVLXQHD DFHVWRUD SUH]LQW R LPSRUWDQ GHRVHELW  Analiza stocurilor de materiale n cadrul dat al unei firme, sub aspect
PHWRGRORJLF YL]HD] OD HYROX LD PDL PXOWH DVSHFWH $VWIHO R SULP FRPSDUDWLY FX FLIUD GH DIDFHUL SUREOHP DD GXS VH UHIHU FXP VH VWRFXULORU

SUH]LQW

vQ WDEHOXO 

Tabelul 8.5 Anii 1 2 3 4 5 Cifra de afaceri 4.800 4.830 4.820 4.860 5.000
5H]XOW F

Stocuri de materiale 1.584 1.689 1.928 1.748 1.597

Indici Cifra de afaceri 100 100,63 99,80 100,83 102,88 Stocuri 100 106,63 114,15 90,66 91,36

Ind. Stocuri 5RWD LD Ind. CA stocurilor

1 1,06 1,14 0,90 0,89 3,03 2,86 2,50 2,78 3,13

vQ DFHVW LQWHUYDO GH WLPS VWRFXULOH DX DYXW R HYROX LH

GLIHULW  $VWIHO vQ SULPLL GRL DQL D H[LVWDW WHQGLQ D GH FUHWHUH UHGXFkQ URWD LHL FHHD FH VH FRQFUHWL]HD]

du-se

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QRUPDO vQ FRQGL LL GH VWDELOLWDWH HFRQRPLF  VWRFXULOH GH PDWHULDOH WUHEXLH V

evolueze, Q SDUDOHO FX SURGXF LD UHVSHFWLY FX FLIUD GH DIDFHUL Q DFWLYLWDWHD

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-L

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ectarea acesteia.
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Tabelul 8.6 Nr. crt. 1. 2. 3. Denumire material A B C Total Sold Abateri + U/M to m2 buc. Cantitate mii lei 1.000 500 x x 70.000 80.000 130.000 50.000 % 5 7,5 15 3 Cantitat e 100 x x Abateri mii lei 60.000 80.000 % 20 12 -

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vQ

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GLQ WRWDOXO

stocurilor. ntr-R DVHPHQHD VLWXD LH VH LPSXQH FHUFHWDUHD ILHF

L DGRSWDUHD P VXULORU QHFHVDUH

UXL FD] vQ SDUWH

Al treilea DVSHFW FDUH VH UHFRPDQG vQ DQDOL]D VWRFXULORU VH UHIHU OD gradul de imobilizare, procedndu-se la gruparea lor n stocuri normale,
VWRFXUL FX PLFDUH OHQW  VWRFXUL I U PLFDUH L VWRFXUL GLVSRQLELOH

ncadrarea ntr-R JUXS VDX DOWD VH IDFH vQ IXQF LH GH IUHFYHQ D consumului, calculndu-se durata de imobilizare a stocului (Di) n zile pe
ED]D UHOD LHL

Di =

S 360 E

unde: S = stocul mediu anual; E LHLULOH GLQ PDJD]LH

Q UDSRUW FX DFHDVW GDF P ULPH FDOFXODW SHQWUX SHU

ioadele anterioare, se

VWDELOHWH FRQYH LRQDO LQWHUYDOXO vQ ]LOH SHQWUX ILHFDUH JUXS  'H H[HPSOX GXUDWD PHGLH GH VWRFDUH HVWH GH  ]LOH PDWHULDOHOH FDUH DX XQ WLPS GH GXUDW  LQWU vQ JUXSD VWRFXULORU QRUPDOH vQWUH  ]LOH LDU GH OD XOWLPD PRGLILFDUH GXS  ]LOH UHSUH]LQW VWRFXULOH FX PLFDUH OHQW  LDU SHVWH  ]LOH I U vQ JUXSH VWRFXULOH FX PLFDUH OHQW  LOH GH XWLOL]DUH vQ FDGUXO ILUPHL VWRFDUH PDL PLF GHFkW DFHDVW

30 -

PLFDUH $VWIHO GDF

OD XQ PDWHULDO 'L

LHLUH DX WUHFXW  GH ]LOH LQWU DOWH FULWHULL UHVSHFWLY SRVLELOLW

Q FHHD FH SULYHWH VWRFXULOH GLVSRQLELOH DFHVWHD VH LGHQWLILF

Actualiznd permanent baza de date privind stocurile, la anumite

LQWHUYDOH SRW IL RE LQXWH LQIRUPD LLOH VWUXFWXUDWH vQ WDEHOXO 

Nr. crt. 1 2 3 ... n

Date de identificare A B C ... Total

Tabelul 8.7 Valoarea stocurilor de materiale mii lei normale 30.000 ... 150.000
FX PLFDUH OHQW I U PLFDUH

disponibile 10.000 ... 20.000

15.000 ... 45.000

10.000 ... 30.000

RH]XOW

GLQ YDORDUHD WRWDO I U

D VWRFXULORU GH  PLOLRDQH  VXQW GLVSRQLELOH

VXQW FX PLFDUH OHQW  

PLFDUH LDU DSURDSH 

6LWXD LD

GDW

VH

FRPSDU

FX

SHULRDGHOH

DQWHULRDUH 

SHQWUX

YHGHD

PRGLILF ULOH LQWHUYHQLWH DF LRQkQGX 6WRFXULOH WUHEXLH V XUPDUH R DOW SUREOHP

-se n consecin

DVLJXUH FRQWLQXLWDWHD SURFHVXOXL GH SURGXF LH &D OD UH]HUYD vQ ]LOH 5]

vQ DQDOL]D DFHVWRUD VH UHIHU

FDUH VH VWDELOHWH SH ED]D UHOD LHL

S1 , cz unde: S1 = stocul efectiv la un moment dat; cz = consumul mediu zilnic. Rz =

'DF VH IRUPHD] L VWRFXO GH VLJXUDQ  UH]HUYD vQ ]LOH VH GHWHUPLQ

astfel:

Rz =
vQ FDUH W UHSUH]LQW

HFKLYDOHQWXO vQ ]LOH D VWRFXOXL GH VLJXUDQ

S1 ( t cz) , cz

Pentru exemplificare se folosesc datele din tabelul 8.8.

Tabelul 8.8
Nr. crt. 1. 2. 3. Denumirea materialului A B C
5H]XOW PDWHULDOHOH $ F L

U/M Kg. Kg. Kg.

Stoc la data de ... 4.000 240 400

Consum zilnic 100 24 80

WUHL

Rezerva n zile 40 10 5
PDWHULDOH

' Intervalul (*)+,.-0/21 34 +/#5*6 7#6 /2( +6

Nr. de zile 408 ( 9 3:4 +6 ; 3 aprovizionare 30 8 15

$VWIHO GDF vQ

35 20 40
HVWH GLIHULW  GH

VLWXD LD % SRW

FHORU

DVLJXUD

FRQWLQXLWDWHD

SURFHVXOXL

SURGXF LH

VFKLPE SHQWUX PDWHULDOXO & VH LPSXQ P VXUL XUJHQWH vQ YHGHUHD FRPSOHW ULL

stocului de materiale.

8.4

Anali]D UHIOHFW ULL XWLOL] ULL UHVXUVHORU n principalii indicatori economico-financiari

PDWHULDOH

n analiza folosirii resurselor materiale se pot folosi: Indicatori analitici:

FRQVXPXO VSHFLILF FV UHVSHFWLY FDQWLWDWHD GH PDWHULH SULP FRQVXPDW

pentru RE LQHUHD XQHL XQLW

L GH SURGXV

FRQVXPXO

SH

FDUDFWHULVWLF

IXQF LRQDO

SURGXVXOXL

VSHFLILF

SHQWUX

anumite produse. De exemplu, consumul de cauciuc natural la 1000 km

UXOD L FX R DQYHORS  SRQGHUHD XQXL DQXPLW PDWHULDO vQ JUHXWDWHD QHW D SURGXVXOXL DSUHFLHULL

cRHILFLHQWXO GH IRORVLQ VDX UDQGDPHQW RIHU SRVLELOLWDWHD modului n care sunt utilizate materialele sub raport fizic. Lista poate continua cu indicatorii specifici ai unor ramuri. Indicatori sintetici: gradul de valorificare a resurselor materiale: valoarea produsului ; cantitatea de material consumat

YDORDUHD SURGXF LHL OD  OHX UHVXUVH PDWHULDOH

8WLOL]DUHD UHVXUVHORU PDWHULDOH VH UHIOHFW vQWUHJXOXL VLVWHP GH LQGLFDWRUL $VWIHO GDF PRGLILFDUHD DFHVWXLD LQIOXHQ HD]D YROXPXO SURGXF LHL

valoarea productiei ; valoarea materialelor consumate valoarea adaugata ; valoarea materialelor consumate profitul brut din exploatare 1 leu resurse materiale: rezultatul exploatarii ; valoarea materialelor consumate

GLUHFW L LQGLUHFW vQ QLYHOXO

VH IRORVHWH FRQVXPXO VSHFLILF

Ct1 Ct1 , cs1 cs0 n care Ct1 UHSUH]LQW FRQVXPXO WRWDO GLQWU-un material; valoarea prodXF LHL Ct1 Ct1 cs cs p0 , 0 1 n care p0 UHSUH]LQW SUH XO SURGXVXOXL

FRVWXO SURGXVXOXL LQIOXHQ D GLUHFW 

(cs1 cs0 ) p0 ,
Cf 0 Cf 0 , Iq

n care p0 UHSUH]LQW

SUH XO PDWHULDOXOXL

FRVWXO SURGXVXOXL LQIOXHQ D LQGLUHFW 

n care Cf0 UHSUH]LQW

FRVWXO IL[ LDU

Iq =

q0 + q q0

profitul unitar:
UDWD UHQWDELOLW

(cs1 cs 0 )p 0
LL SURGXVXOXL

p 0 c 0 + (cs1 cs 0 )p 0 100 r0 c 0 + (cs1 cs 0 )p 0

IXQGDPHQWDO D

3ULQ FXPXODUH SH WRDWH SURGXVHOH VH SRW GHWHUPLQD LQIOXHQ HOH WRWDOH

la nivelul firmei. Gestiunea rHVXUVHORU PDWHULDOH FRQVWLWXLH R SUREOHP

PDQDJHPHQWXOXL LQWHUQ DO vQWUHSULQGHULL SUHPLV HVHQ LDO

D SHUIRUPDQ HL

economico-financiare a acesteia.

$SOLFD LL L vQWUHE

UL

1. 6 VH DQDOL]H]H HFRQRPLF de afaceri pe baza datelor:

Stocuri de materiale (mil lei) 8200 8750 9300 9000 12000

HYROX LD VWRFXULORU vQ FRUHOD LH FX FL

fra

Indici Cifra de afaceri (mil lei) 24400 26300 28700 32000 37500

Indicele stocuri Indicele CA

5RWD LD

Anii

CA

Stocuri

CA S
stocurilor
URWD LL

N4 N3 N2 N1 N

2.

&XP

VH

GHWHUPLQ DUH

JUDGXO

GH

LPRELOL]DUH

VWRFXULORU

i ce

VHPQLILFD LH HFRQRPLF

BIBLIOGRAFIE
1.
$QDOL]D HFRQRPLFR ILQDQFLDU 

,) 67 %

1(6&8 $ 1(6&8 &

Editura

(FRQRPLF  %XFXUHWL 

,&86, $ $QDOL] HFRQRPLFR ILQDQFLDU 

2. ROBU V., GEORGESCU N. 3. NICULESCU M. 4.

0 5*8/(6&8 '

ASE, 2001 Editura

Diagnostic

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strategic,

(FRQRPLF  %XFXUHWL  D Analiza economico-ILQDQFLDU ntreprinderii, 7ULEXQD (FRQRPLF  %XFXUHWL 1994 Diagnostic economico-financiar, Editura 5RPFDUW %XFXUHWL 

(coordonator) 5.
0 5*8/(6&8 '

NICULESCU M., ROBU V. 6.

,) 1(6&8 $

Evaluarea ntreprinderii, Editura Tribuna

(FRQRPLF  %XFXUHWL 

ROBU V., ANGHEL I. 7. ELIE COHEN

8.

0 67

5*8/(6&8 ' 1(6&8 &

Analyse financiere, (GLWXUD (FRQRPLF  3DULV 1988, Analyse financiere 2-eme dition, Les Edition dOrganisation, Paris, 1995 Analiza economico-ILQDQFLDU  Editura Oscar
3ULQW %XFXUHWL  $QDOL]D VRFLHW HFRQRPLF LORU FRPHUFLDOH L ILQDQFLDU D

.,

DAVID I. 9. BATRNCEA I.

Editura ETA, Cluj-

Napoca, 1996 10.

% 751&($ , $QDOL] ILQDQFLDU  Editura Dacia, ClujNapoca, 2000 Evaluarea ntreprinderilor X]DQ H L metode, (GLWXUD 7HRUD %XFXUHWL  *KLG SUDFWLF GH DQDOL] HFRQRPLFR ILQDQFLDU  (GLWXUD 7ULEXQD (FRQRPLF  %XFXUHWL 

11. SORIN V. STAN 12.

,) 1(6&8 $