BAZELE TEORETICO-METODOLOGICE ALE ANALIZEI ECONOMICO-FINANCIARE

1.1 Analiza economico-ILQDQFLDU vQPHFDQLVPXOFRQGXFHULL

3URFHVXOGHFRQGXFHUHQXVHSRDWHED]DSHUXWLQ L LQWXL LHFLSHRDQDOL] WLLQWLILF SHRFXQRDWHUHWHPHLQLF DVLWXD LHLGDWHRLGHQWLILFDUHDYXOQHUDELOLW LORULRSRUWXQLW LORUGHGH]YROWDUH

QWUHSULQGHUHDHVWHRRUJDQL]D LHVRFLDO FXRVWUXFWXU LGLQDPLF specific , fapt ce determin i complexitatea actului decizional. Ca activitate SUDFWLF DQDOL]DHFRQRPLco-ILQDQFLDU DUHXQFDUDFWHUSHUPDQHQWLQGLIHUHQWGH VXELHFWXO FDUH R HIHFWXHD] GHRDUHFH SULQ YDORULILFDUHD LQIRUPD LHLIXUQL]DWH GH VLVWHPXO L SROLWLFLOH FRQWDELOH, se pot formula concluzii SHUWLQHQWHDVXSUDDQVDPEOXOXLDFWLYLW LLVDXVHJPHQWHORUDFHsteia.

3H ED]D DQDOL]HL IDFWRUXO XPDQ IRUPXOHD] FRQFOX]LL SULQ FDUH VHGLULMHD] HIRUWXODVWIHOvQFkWHIHFWHOHV ILHPD[LPHVDWLVIDFkQGSULQDFHasta FHULQ HOHSURSULHWDULORUFDSLWDOXULORULQYHVWLWH

1.2 'HOLPLW ULFRQFHSWXDOHSULYLQGDQDOL]DHFRQRPLFR-fiQDQFLDU

Analiza Economico-)LQDQFLDU VWXGLD] PHFDQLVPXO GH IRUPDUH Lmodificare a fenomenelor economice prin descompunerea lor n elemente FRPSRQHQWH vQ S U L VLPSOH L SULQ VWDELOLUHD IDFWRULORU GH LQIOXHQ Descompunerea se face n trepte, de la complex la simplu, n vederea LGHQWLILF ULLFDX]HORUILQDOHFDUHH[SOLF RDQXPLW VWDUHGHIDSWXQDQXPLWQLYHOGHSHUIRUPDQ VDXRDQXPLW HYROX LHDORUFig. 1.1).

1

)LJ6FKHPDGHVI XU ULLDQDOL]HLHFRQRPLFR-financiare1.

Elementele = S U LFRPSRQHQWHDOHIHQRPHQXOXLDQDOL]DW Factorii = IRU H PRWULFH FDUH SURYRDF GHWHUPLQ XQ

fenomen, un rezultat. Cauzele finale = vPSUHMXU UL FDUH vQ DQXPLWH FRQGL LL H[SOLF

DSDUL LD XQXL IHQRPHQ VWDUHD L HYROX LDacestuia.

AnaOL]D HFRQRPLF VWXGLD] IHQRPHQHOH GLQ SXQFW GH YHGHUHHFRQRPLFUHVSHFWLYDOFRQVXPXOXLGHUHVXUVHLDOUH]XOWDWHORURE LQXWHDe asemenea, trebuie OXDWH vQ FRQVLGHUDUH UHOD LLOH VWUXFWXUDO-IXQF LRQDOH L DFHORU FDX] -efect. Complexitatea analizei economico-ILQDQFLDUH GHFXUJH LGLQIDSWXOF vQHFRQRPLHH[LVW XUP WRDUHOHVLWXD LL DFHODLHIHFWSRDWHILSURGXVGHFDX]HGLIHULWH DFHHDLFDX] SRDWHSURGXFHHIHFWHGLIHULWH HIHFWHGLIHULWHVHSRWFRPELQDGkQGRUH]XOWDQW DFRPSOH[XOXLGHIDFWRUL

sau foU H FRPSOH[LWDWHDLLQWHQVLWDWHDFDX]HLSRWGHWHUPLQDQXQXPDLLQWHQVLWDWHD

fenomenului dat, ci Lcalitatea lui; vQ IHQRPHQXO DQDOL]DW SRW DS UHD vQVXLUL SH FDUH QX OH-a avut nici un

element al fenomenului.

1

!! " #$ !&% ' ! ()(*,+.- /&! 0 - 21345.

Fenomenul X

1

1.1 1.2

1.1.1 1.1.2 1.1.3 1.2.1 1.2.2

a b c d d e f g

2

2.1 2.2 2.3

3

3.1 3.2

Elemente

Factori de grad I

Factori de grad II

Cauze finale

1.3 Probleme principale privind bazele teoretico-metodologice ale analizei economico-financiare

1.3.1 Tipologia analizei economico-ILQDQFLDUH L D IDFWRULORU GHLQIOXHQ &RQ LQXWXO SURFHVXOXL GH DQDOL] HFRQRPLFR-

ILQDQFLDU

Tipologia Analizei Economico-Financiare

$QDOL]DHFRQRPLF SRDWHILFODVLILFDW vQPDLPXOWHWLSXULvQIXQF LHde diferite criterii, astfel:

I) 'XS UDSRUWXO vQWUH PRPHQWXO vQ FDUH VH HIHFWXHD] DQDOL]D L FHO DOGHVI XU ULLIHQRPHQXOXL

A) analiza post-factum sau post operatorie, DQDOL]D UHDOL] ULLobiectivelor);

B) analiza previzionaO VDXSURVSHFWLY .

II) 'LQ SXQFW GH YHGHUH DO vQVXLULORU HVHQ LDOH VDX DO GHWHUPLQ ULORUcantitative ale fenomenelor:

A) DQDOL]DFDOLWDWLY B) DQDOL]DFDQWLWDWLY

III) 'XS QLYHOXOODFDUHVHGHVI RDU DQDOL]D A) DQDOL]DPLFURHFRQRPLF B) DQDOL]DPDFURHFRQRPLF

IV) 'XS PRGXOGHXUP ULUHvQWLPSDIHQRPHQHORU A) DQDOL]DVWDWLF B) DQDOL]DGLQDPLF

V) 'XS FULWHULLOHGHVWXGLHUHDIHQRPHQHORU A) analiza tehnico-HFRQRPLF B) analiza economico-ILQDQFLDU C) DQDOL]DILQDQFLDU

VI) nIXQF LHGHGHOLPLWDUHDRELHFWului analizat: A) analiza pHUDPXULDQDOL]DSHXQLW LRUJDQL]DWRULFHvQWUHSULQGHUL

grupuri de ntreprinderi, holdinguri); B) analiza pe probleme (cifra de afaceri, rentabilitate, etc).

&DGLVFLSOLQ LQGHSHQGHQW vQSODQXOGHvQY PkQWFDUHL-a delimitat obiectul n procesul de formare a specialistului economist, analiza economico-ILQDQFLDU U VSXQGH XQRU QHFHVLW L SUDFWLFH ILLQG DQFRUDW vQUHDOLW LOH vQWUHSULQGHULL $FHDVWD SH ED]D LQIRUPD LHL H[LVWHQWH FHUFHWHD] UH]XOWDWHOHRE LQXWHIDFWRULLFDUHOH-au determinDWLFRQFRUGDQ DDFHVWRUDFXFULWHULLOH GHHILFLHQ HYLGHQ LLQGSRVLELOLW ile de sporire a SHUIRUPDQ HORUntreprinderii.

&RQ LQXWXOSURFHVXOXLGHaQDOL] economico-fLQDQFLDU

3URFHVXO GH DQDOL] HFRQRPLFR-ILQDQFLDU UHSUH]LQW inversul HYROX LHLUHDOHDIHQRPHQXOXL$QDOL]DSRUQHWHGHODUH]XOWDWHOHSURFHVXOXLvQFKHLDWF WUHHOHPHQWHLIDFWRULFXSULQ]kQGXUP WRDUHOHHWDSH

1) Delimitarea obiectului analizei, care presupune constatarea anumitor fapte, fenomene, rezultate. Delimitarea obiectului se faFH vQ WLPS LsSD LXFDOLWDWLYLFDQWLWDWLY

2) 'HWHUPLQDUHD HOHPHQWHORU IDFWRULORU L FDX]HORU IHQRPHQXOXL VWXGLDW'HVFRPSXQHUHDvQHOHPHQWHSUHVXSXQHRDQDOL] VWUXFWXUDO )DFWRULLVHXUP UHVFvQPRGVXFFHVLYWUHFkQGGHODFHLFXDF LXQHGLUHFW ODFei cu DF LXQHLQGLUHFW SkQ ODVWDELOLUHDFDX]HORUILQDOHSULPDUH;

3) 6WDELOLUHD IDFWRULORUSUHVXSXQHLGHWHUPLQDUHDFRUHOD LHLGLQWUHILHFDUHIDFWRU L IHQRPHQXO DQDOL]DW FkW L D FRUHOD LHL GLQWUH IDFWRULL FDUHac LRQHD] ;

4) 0 VXUDUHD LQIOXHQ HORU GLIHULWHORU HOHPHQWH VDX IDFWRUL VH XWLOL]HD] DQDOL]D FDQWLWDWLY SHQWUX FXDQWLILFDUHD LQIOXHQ HORU D UH]HUYHORUinterne, a aprecierii ct mai exacte a rezultatelor;

5) Sintetizarea rezultatelor analizei, stabilindu-VHFRQFOX]LLOHLDSUHFLHULOHasupra activLW LLGLQVIHUDFHUFHWDW ;

6) (ODERUDUHD P VXULORU FDUH UHSUH]LQW FRQ LQXWXO GHFL]LLORU PHQLWH V DVLJXUH R IRORVLUH RSWLP D UHVXUVHORU SHQWUX VSRULUHD HILFLHQ HLDFWLYLW LLvQYLLWRU

&ODVLILFDUHDIDFWRULORUGHLQIOXHQ DIHQRPHQHORUHFRQRPLFH

FiecDUH vQWUHSULQGHUH LQGLIHUHQW GH WLSXO SURILOXO GH DFWLYLWDWH LORFDOL]DUHDHLVHFRQIUXQW FXRPXOWLWXGLQHGHIDFWRULLFDUHIRUPHD] PHGLXOde afaceri.

5HOD LLOH GH LQWHUDF LXQH GLQWUH ILUP L VRFLHWDWH VXQW UHFLSURFH Lextrem de complexe, ele putnGILSXVHvQHYLGHQ FXDMXWRUXOFig 1.2 0DQDJHULLvQWUHSULQGHULLQXRSRWDGPLQLVWUDFXVXFFHVI U D LQHFRQWGH IDFWRULL FDUH GHFXUJ GLQ UHOD LLOH GH LQWHUFRQGL LRQDUH UHFLSURF GLQWUHvQWUHSULQGHUH L PHGLXO H[WHUQ FXP DU IL IDFWRUL WHKQLci, tehnologici, economici, sociali, politici, juridici psihologici, demografici etc.

5HOD LLGLUHFWH 5HOD LLLQGLUHFWH

)LJ5HOD LLOHGHLQWHUDF LXQHGLQWUHILUP LVRFLHWDWH2

2 G.A. Steiner, J.F.Steiner/Business, Government and Society/Mc Graw-Hill, Inc./USA/1991

Mass-media

ntreprinderea

6 !

comunitare locale

Organismele de ' 7

consumatorilor

, !

Comunitatea de afaceri Guvernul

Grupurile politice

Comunitatea 8

Creditorii

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9

!

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Intelectualii

Managerii companiei

Grupurile de interes

special

, :;

=?

le 7#$!

Furnizorii Biserica

103,62%). 5LWPXO GH FUHWHUH SUHYL]LRQDW SHQWUX YDORDUHD DG XJDW a fost LQIHULRU FHOXL SUHYL]LRQDW SHQWUX SURGXF LD H[HUFL LXOXL SUREDELO GDWRULW DQWLFLS ULL XQRU FRQVXPXULPDWHULDOHPDLPDULGHFkWvQDQXOSUHFHGHQWvQV HIHFWLYGLQDPLFDYDORULLDG XJDWHDIRVWVXSHULRDU GLQDPLFLLSURGXF LHLH[HUFL LXOXLvQUHJLVWUkQGX-se RUHGXFHUHDSRQGHULLFKHOWXLHOLORUPDWHULDOHvQWRWDOSURGXF ie.

2.1.3.3 Analiza raportului static dintre indicatorii valorici

Scopul unei astfel de analize este de a oferi LQIRUPD LL DVXSUDHYROX LHLHOHPHQWHORUFRPSRQHQWHDOHindicatorilor valorici5HOD LLOHVWDWLFHFXVHPQLILFD LHvQDQDOL]DDFWLYLW LLGHSURGXF LHLFRPHUFLDOL]DUHVXQW

5DSRUWXO GLQWUH FLIUD GH DIDFHUL L YDORDUHD SURGXF LHL IDEULFDWH

QfCA

H[SULP PRGLILFDUHDVWRFXULORUGHSURGXVHILQLWHLDDOWRU

YHQLWXUL GLQDFWLYLWDWHD GH ED] 6LWXD LD VH FRQVLGHU IDYRUDELO

pentru 1QfCA

.

5DSRUWXO GLQWUH YDORDUHD SURGXF LHL IDEULFDWH L YDORDUHD

SURGXF LHLH[HUFL LXOXL

QeQf

FDUDFWHUL]HD] HYROX LDVWRFXULORUGH

SURGXF LH QHWHUPLQDW L D FRQVXPXOXL LQWHUQ 6LWXD LD VH

DSUHFLD] FDILLQGIDYRUDELO pentru 1QeQf

.

5DSRUWXO GLQWUH YDORDUHD DG XJDW L YDORDUHD SURGXF LHL

H[HUFL LXOXL

QeQa

HYLGHQ LD] PRGLILFDUHD FRQVXPXULORU

SURYHQLWHGHODWHU L6LWXD LDIDYRUDELO HVWHFkQG 1QeQa

.

Pe baza datelor din tabelul nr. 2.1 s-DX RE LQXW XUP WRDUHOH UHOD LLstatice (tabelul nr. 2.2)

Tabelul 2.2 An curent Nr.

crt. 5HOD LLVWDWLFH Simbol An

precedent 3UHY ]XW Realizat

1. fabricataProductiaafacerideCifra

QfCa

0,955 0,971 0,951

2. uiexercitiulProductia

fabricataProductia Qe

Qf 0,970 0,920 0,871

3. uiexercitiulProductia

adaugataValoarea Qe

Qa 0,485 0,460 0,463

&XH[FHS LDSULPXOXLUDSRUWVWDWLFFHOHODOWHYDORULSUHYL]LRQDWHV-au VLWXDWVXEQLYHOXODQXOXLSUHFHGHQWGDWRULW IDSWXOXLF VRFLHWDWHDL-a propus XQ ULWPGHFUHWHUHDSURGXF LHLH[HUFL LXOXL VXSHULRU ULWPXOXLGHFUHWHUHDSURGXF LHLIDEULFDWHLDYDORULLDG XJDWH Valorile realizate sunt sub nivelul previzionat n cazul UHOD LLOor

statice QfCA

L QeQf

GDWRULW ULWPXULORU GLIHriWH GH FUHWHUH D FHORU WUHL

LQGLFDWRUL 5H]XOW F ID GH SODQ D FUHVFXW JUDGXO GH YDORULILFDUH DSURGXF LHLIDEULFDWHUHVSHFWLYV-a redus ponderea stocurilor de produse finite LDXFUHVFXWFRQVXPXULOHLQWHUQHDOHVRFLHW LLLVWRFXULOHGHSURGXVHDIODWHvQF vQ IOX[XO WHKQRORJLF ,Qe > IQf). Ponderea consumurilor materiale SURYHQLWHGHODWHU LvQSURGXF LDH[HUFL LXOXLV-DUHGXVID GHSURJUDP

2.1.3.4 Analiza raportului dinamic dintre indicatorii valorici

Raportul dinamic cDUDFWHUL]HD] HYROX LD vQ WLPS D LQGLFDWRULORUvalorici prin operarea cu indicii acestora. Principalele tipuri de rapoarte dinamice sunt:

1) 5DSRUWXO vQWUH ULWPXO YkQ] ULORU OLYU ULORU L ULWPXO IDEULFD LHL

QfCA

II

; SLWXD LDHVWHFRQVLGHUDW IDYRUDELO FkQG 1Qf

CA

II

.

2) 5DSRUWXO vQWUH ULWPXO YROXPXOXL WRWDO GH DFWLYLWDWH L ULWPXOILQDOL] ULL SURGXF LHL

QeQf

II

; Cnd 1II

QeQf VLWXD LD HVWH

FRUHVSXQ] WRDUHGHVI XU ULLQRUPDOHDDFWLYLW LL

3) *UDGXOGHSUHOXFUDUHDFRQVXPXULORUSURYHQLWHGH ODWHU LQe

QaII

;

6LWXD LDHVWHSR]LWLY SHQWUX 1Qe

QaII

.

8WLOL]kQGGDWHOHWDEHOXOXLQUUDSRDUWHOHGLQDPLFHVHSUH]LQW vQtabelul 2.3:

Tabelul 2.3 An curent Nr.

crt. Rapoarte dinamice Simbol An

precedent 3UHY ]XW Realizat

1. fabricateproductieiIndiceleafaceridecifreiIndicele

QfCa

II

1,015 0,994 0,979

2. uiexercitiulproductieiIndicele

fabricateproductieiIndicele

QeQf

II

0,947 0,898 0,948

3. uiexercitiulproductieiIndicele

adaugatevaloriiIndicele

Qe

QaII

0,947 0,954 1,007

$FHOHDL FRQFOX]LL YH]L $QDOL]D UDSRUWXOXL VWDWLF GLQWUH LQGLFDWRULLYDORULFLVHGHVSULQGLDQDOL]kQGUDSRUWXOGLQDPLFDOLQGLFDWRULORUYDORULFL

$QDOL]DSURGXF LHLIL]LFH

$QDOL]DUHDOL] ULLSURJUDPXOXLGHIDEULFD LHSHVRUWLPHQWH

LSHWRWDOVRFLHWDWH

Conceptual, SURGXF LD IL]LF UHSUH]LQW WRWDOLWDWHD YDORULORU GHvQWUHEXLQ DUH UH]XOWDWH GLQ DFWLYLWDWHD SURGXFWLY L GHVWLQDWH FRQVXPXOXLintermediar sau final. 3HQWUXGHVI XUDUHDQRUPDO DDFWLYLW LLeconomice este necesar ca RULFH vQWUHSULQGHUH V vL VWDELOHDVF XQSURJUDPGH IDEULFD LH DIHUHQW XQXLLQWHUYDO YDULDELO GH WLPS SULQ FDUH V DLE FHUWLWXGLQHD F vL YD RQRUDLQWHJUDOREOLJD LLOHFRQWUDFWXDOHID GHFOLHQ LLV L 3URJUDPXOGHIDEULFD LHVHUHDOL]HD] SHVXEGLYL]LXQLRUJDQL]DWRULFHHFKLSH VHF LL HWF L LD vQ FDOFXO FDSDFLWDWHD GH SURGXF LH D DJHQWXOXLeconomic. *UDGXOGHvQGHSOLQLUHDSURJUDPXOXLGHIDEULFD LHSHUPLWHIRUPXODUHDunor concluzii referitoare la fundamentarea acestuia, la capacitatea factorilor GH GHFL]LH GH DQWLFLSDUH D DFWLYLW LL vQWUHSULQGHULL 3HQWUX FDUDFWHUL]DUHDJUDGXOXLGHvQGHSOLQLUHDSURJUDPXOXLGHIDEULFD LHVHXWLOL]HD]

LQGLFLLLQGLYLGXDOLGHvQGHSOLQLUHDSURJUDPXOXLGHSURGXF LH coeficientul mediu de sortiment; FRHILFLHQWXOGHQRPHQFODWXU

Indicii individuali de ndeplinire a programuluiHYLGHQ LD] P VXUDvQFDUHSUHYL]LXQLOHDXIRVWUHVSHFWDWHSHVRUWLPHQWHLSHWRWDOSURGXF LH Coeficientul de sortiment (KS) RIHU R LPDJLQH GH DQVDPEOXasupra JUDGXOXL GH UHDOL]DUH D SURJUDPXOXL GH IDEULFD LH SH VRUWLPHQWH ODQLYHOXOVRFLHW LLFRPHUFLDOH 3ULQFLSLXOGHWHUPLQ ULLDFHVWXLFRHILFLHQWHVWHDOQHFRPSHQV ULLXQRUQHvQGHSOLQLULGHSURJUDPODXQHOHVRUWLPHQWHFXGHS LULOHvQUHJLVWUDWHODDOWHsortimeQWHQFRQGL LLOHXQHLFHUHULQHPRGLILFDWHID GHSURJUDPGHS LULOHGHSURGXF LH IDEULFDW ODXQHOHVRUWLPHQWHVHPQLILF RFUHWHUHDVWRFXULORUvQWUHSULQGHULL GHFL R LPRELOL]DUH GH UHVXUVH LDU R QHUHDOL]DUH D SURGXF LHLplanificate la diferite sortimeQWHSUHVXSXQHRRQRUDUHSDU LDO DREOLJD LLORUFRQWUDFWXDOHFXFRQVHFLQ HQHJDWLYHDVXSUDDFWLYLW LLHFRQRPLFHYLLWRDUH 0 ULPHD PD[LP D FRHILFLHQWXOXL GH VRUWLPHQW HVWH Q SUDFWLF DSDUGRX VLWXD LL a) Ks = 1, vQXUP WRDUHOHVLWXD LL: a1) cnd SURJUDPXOGHIDEULFD LHDIRVWUHDOL]DWODWRDWHVRUWLPHQWHOHvQSURSRU LHGH a2 FkQG SURJUDPXO GH IDEULFD LH D IRVW UHDOL]DW L GHS LW OD WRDWHVRUWLPHQWHOHLQGLIHUHQWGHSURSRU LDGHUHDOL]DUH

b) Ks < 1, vQXUP WRDUHOHVLWXD LL: b1) cnd proJUDPXOGHIDEULFD LHDIRVWUHDOL]DWLGHS LWSHWRWDOGDUFHOSX LQODXQVRUWLPHQWQXV-DUHDOL]DWQLYHOXOSUHY ]XW b2FkQGSURJUDPXOGHIDEULFD LHQXDIRVWUHDOL]DWDWkWSHWRWDOFkWLSHVRUWLPHQWHLQGLIHUHQWGHSURSRU LDGHQHUHDOL]DUH RelD LLOHGHGHWHUPLQDUHDFRHILFLHQWXOXLGHVRUWLPHQWVXQW

1)

=

00

0mins pq

pqK

2) 100g

100iqg

K 02

0s

+

=

3) ( )

=

00s pq

qp1K

n care qmin p0 YDORDUHDSURGXF LHLUHFDOFXODW vQOLPLWDSUHYHGHULORUGHWHUPLQDW

prin compararea valorii realizate pe produse cu valoarea SUHY ]XW LOXDUHDvQFDOFXODYDORULLPLQLPH

g0 = SRQGHUHD SUHY ]XW D VRUWLPHQWHORU OD FDUH QX V-a realizat programul;

0g = SRQGHUHD SUHY ]XW D VRUWLPHQWHORU OD FDUH V-D UHDOL]DWGHS LWprogramul; iq = indicele de ndeplinire a prevederilor la sortimentele luate n

calcul; (qp) = suma abaterilor negative pe sortimente.

Exemplu: 6H FRQVLGHU F vQWUHSULQGHUHD $/)$ DUH FD RELHFW GHDFWLYLWDWH SURGXF LD GH PDWHULDOH GH FRQVWUXF LL 6H FHUH V VH GHWHUPLQHJUDGXOGHUHDOL]DUHDSURJUDPXOXLGHIDEULFD LHLV VHLQWHUSUHWH]HVLWXD LD

Tabelul 2.4 0!12 34156187$5349:; < 6?

5:;

?

:51@7539A:; < 6 @ SHQWUX* L

1,41

pentru H. Deci,

GRX GLQFHOH SDWUX VRUWLPHQWH FRPHUFLDOL]DWH FRQIHF LL IHPHL L FRQIHF LLE UED L GHILQHVF DFWLYLWDWHD VRFLHW LL DQDOL]DWH vPSUHXQ GH LQ GLQcifra de afaceri). - Metoda ABC HVWH XWLOL]DW vQ SULQFLSDO SHQWUX DQDOL]D VWUXFWXULLcifrei de afacerL SH SURGXVH FOLHQ L IXUQL]RUL /LWHUDWXUD GH VSHFLDOLWDWHHYLGHQ LD] IDSWXOF SURGXVHOHFRPHUFLDOL]DWHFRQWULEXLHvQSURSRU LLGLIHULWHla realizarea cifrei de afaceri a unei ntreprinderi. n acest sens se disting trei grupe de produse: Grupa A: 10 GLQQXP UXOGHSURGXVHUHDOL]HD] 70% din cifra de afaceri; Grupa B: 25 GLQQXP UXOGHSURGXVHUHDOL]HD] 30% din cifra de afaceri; Grupa C: 65 GLQQXP UXOGHSURGXVHUHDOL]HD] FX 15% din cifra de afaceri. n baza acestRU FRRUGRQDWH SRDWH IL UHSUH]HQWDW JUDILF FXUEDWHRUHWLF DFLIUHLGHDIDFHUL&XUEDUHDO VSHFLILF ILHF UHLvQWUHSULQGHULQXVHLGHQWLILF SHUIHFWFXFHDWHRUHWLF GHLWHQGLQ DVHPHQ LQH0DLPXOWFXUEDUHDO DXQHLVRFLHW LSRDWHvQUHJLVWUDPRGLILF ULLGHODRSHULRDG GHWLPSla alta. Q IXQF LD SR]L LD JUDILFXOXL HIHFWLY vQ UDSRUW FX FHO WHRUHWLF VH IDFLQWHUSUHW ULDVXSUDVWUXFWXULLDFWLYLW LLHFRQRPLFH $VWIHO FkQG FXUED UHDO HVWH VLWXDW GHDVXSUD FXUEHL WHRUHWLFHSURGXVHOHJUXSHL$GH LQRSRQGHUHIRDUWHLPSRUWDQW vQFLIUDGHDIDFHULLDUsortimentul este redus. &kQGFXUEDUHDO VHDIO VXEFXUEDWHRUHWLF VRFLHWDWHDGLVSXQHGHXQQXP UPDUHGHDUWLFROHODJUXSHOH%L& Etapele metodei ABC sunt: - Ordonarea nomenclatorului de prodXVH vQ VHQVXO GHVFUHVF WRU DO YDORULL

YkQ] ULORUSHDUWLFROH -'HWHUPLQDUHDYkQ] ULORUFXPXODWH -6WDELOLUHDJUXSHORUGHVHPQLILFD LH -7UDVDUHDFXUEHLWHRUHWLFHLDFHOHLUHDOH - ,QWHUSUHWDUHD UH]XOWDWHORU HFRQRPLFH L SURSXQHUHD XQRU P VXUL SHQWUXeILFLHQWL]DUHDDFWLYLW LL

Exemplu QWUHSULQGHUHD*DPD6$SURGXFHLFRPHUFLDOL]HD] DUWLFROH 6LWXD LD UHDOL] ULL FLIUHL GH DIDFHUL SH SURGXVH VH SUH]LQW FD vQtabelul nr. 2.10.

Tabelul 2.10 Ponderi n:

Produse

9kQ] UL

(mil lei)

Produse n ordine

descresc WRDUH

9kQ] UL

ABC (mil lei)

9kQ] UL

cumulate

Produse

CA 1 80 4 113 113 2 65 3 100 213

20% 30,17%

3 100 5 92 305 4 113 1 80 385 5 92 7 76 461 6 71 6 71 532

40%

45,18%

7 76 2 65 597 8 62 8 62 569 9 31 9 31 690 10 16 10 16 706

40%

24,65%

TOTAL 706 10 706 -

5HSUH]HQWDUHJUDILF

20 10

30 40 50 60 70 80 90

100

FXUEDWHRUHWLF

10 20 30 40 60 50 70 80 90 100

%CA

B A C

curba UHDO

FXUEDUHDO FXUEDWHRUHWLF

%produse

*UDILF FXUED UHDO HVWH VLWXDW VXE FXUED WHRUHWLF 5H]XOW F DFWLYLWDWHD vQWUHSULQGHULL QX VH FRQFHQWUHD] VHPQLILFDWLY SH DQXPLWHproduse. Toate VXQWSURGXVHLPSRUWDQWHDVWIHOF H[FOXGHUHDXQXLDUWLFROGHODYkQ]DUHDIHFWHD] DFWLYLWDWHDvQWUHSULQGHULL(VWHQHFHVDU RDSURIXQGDUHDDQDOL]HL VXEDVSHFWXOHILFLHQ HLJHVWLXQLL VWRFXULORU LDYLWH]HLGH URWD LHDacestora. Utilitatea metodei ABC FRQVW vQGHILQLUHDSROLWLFLLGHDSURYL]LRQDUHDvQWUHSULQGHULLSHJUXSHSHQWUXFRPHU SUHFXPLDSXWHULLGHQHJRFLHUHvQUDSRUWFXFOLHQ LLIXUQL]RULLSHQWUXWRDWHGRPHQLLOH

$QDOL]DIDFWRULDO DFLIUHLGHDIDFHUL

Scopul analizei factoriaOHHVWHGHWHUPLQDUHDFRUHOD LHLGLQWUHGLIHUL LIDFWRULGHLQIOXHQ LQWHUQLVDXH[WHUQLGLUH LVDXLQGLUHF LHWFLLQGLFDWRUXODQDOL]DW L J VLUHD VROX LLORU SHQWUX UHGUHVDUHD DFWLYLW LL VDX vPEXQ W LUHDSHUIRUPDQ HORUYLLWRDUH Utilizatorii sunt vQSULQFLSDODJHQ LLHFRQRPLFLLQVWLWX LLOHILQDQFLDUHFUHGLWRDUHDF LRQDULLVWDWXOHWF

0HWRGHOHGHDQDOL]

$QDOL]DIDFWRULDO DFLIUHLGHDIDFHULVHUHDOL]HD] GLIHUHQ LDWGHODXQGRPHQLX GH DFWLYLWDWH OD DOWXO SURGXF LH FRPHU WXULVP HWF vQtruct IDFWRULLGHLQIOXHQ LUHOD LLOHGHFDX]DOLWDWHVXQWVSHFLILFH &DSULQFLSDOHPRGHOHGHDQDOL] SHQWUXDFWLYLWDWHD LQGXVWULDO SRWILutilizate:

1) QfCA

NpQfNpCA =

2) QfCA

FMQf

MFFM

NpMFNpCA

=

3) = pqCA n care: Np = num UPHGLXVFULSWLFGHSHUVRQDO; 4I SURGXF LDIDEULFDW 0) YDORDUHDPHGLHDQXDO DPLMORDFHORUIL[H; 0) YDORDUHDPHGLHDQXDO DPLMORDFHORUIL[HSURGXFWLYH

T YROXPXOIL]LFDOSURGXF LHLYkQGXWH S SUH XOPHGLXGHYkQ]DUHSHSURGXV-TVA). Exemplu8WLOL]kQGED]DGHGDWHGLQWDEHOXOXUP WRUVHYDHIHFWXDDQDOL]DIDFWRULDO DFLIUHLGHDIDFHUL

Tabelul 2.11 (mil.lei)

Nr. crt. Indicatori Simbol N 1 N % 1. Cifra de afaceri CA 24336 28881 118,67 2. 3URGXF LDPDUI IDEULFDW Qf 23177 29470 127,15 3. 1XP UPHGLXGHSHUVRQDO Np 520 512 98,46 4. 9DORDUHD PHGLH DQXDO D

mijloacelor fixe MF 2400 2760 115

5. 9DORDUHD PHGLH DQXDO Dmijloacelor fixe direct productive

MF 1560 1822 116,79

6. 3URGXFWLYLWDWHD DQXDO DPXQFLL FDOFXODW vQ IXQF LL GHQf (mii lei) Np

Qf

44571,153 57560,546 129,14

7. Timpul mediu pe salariat (ore) t 1872 1850 98,82 8. 3URGXFWLYLWDWHDPHGLHRUDU SH

baza CA (mii lei) hW 25 30,5 122

9. *UDGXO GH vQ]HVWUDUH WHKQLF a muncii

NpMF

4615,4 5390,6 116,79

10. 7LPSXO WRWDO GH PXQF (om-ore)

T 973440 947200 97,3

11. ProductiYLWDWHD DQXDO Dmuncii pe baza CA (mii lei) aW

46800 56408,2 120,53

12. Ponderea mijloacelor fixe direct productive (%) MF

FM

65 66 101,53

13. Randamentul mijloacelor fixe direct productive (lei)

FMQf

14,857 16,174 108,86

14. Cifra de afaceri la 1 leu mijloace fixe direct productive

FMCA

15,6 15,85 120,83

15. Gradul de valorificare a SURGXF LHLIDEULFDWH Qf

CA

1,05 0,98 93,33

16. 9ROXPXOSURGXF LHLYkQGXWHvQDQXO 1 HYDOXDW vQ SUH XULOHanului N-1

01pq - 26223 -

/DDQDOL]D IDFWRULDO V-a optat pentru modelul al doilea. Schematic, FLIUDGHDIDFHULVHSUH]LQW DVWIHO :

$QDOL]DIDFWRULDO HVWHXUP WRDUHD Modificarea cifrei de afaceri n anul N comparativ cu anul N-1 este: CA = CA1 CA0 ,QIOXHQ DIDFWRULORU ,QIOXHQ DPRGLILF ULLQXP UXOXLGHSHUsonal:

( ) 0QfCA0

NpQfNpNpNp 01 =

,QIOXHQ DPRGLILF ULLSURGXFWLYLW LLPXQFLL

0QfCA0

NpQf1

NpQfNp

NpQf

1

= GLQFDUHGDWRULW

0RGLILF ULLJUDGXOXLGHvQ]HVWUDUHWHKQLF DPXQFLL

0QfCA0

FMQf0

MFFM0

NpMF1

NpMFNp

NpMF

1

=

0RGLILF ULLVWUXFWXULLPLMORDFHORUIL[H:

0QfCA0

FMQf0

MFFM1

MFFM1

NpMFNp

MFFM

1

=

0RGLILF ULL UDQGDPHQWXOXL DFWLYHORU IL[H GLUHFWproductive

0QfCA0

FMQf1

FMQf1

MFFM1

NpMFNp

FMQf

1

=

,QIOXHQ DJUDGXOXLGHYDORULILFDUHDSURGXF LHLIDEULFDWH

= 0Qf

CA1QfCA1

NpQfNpQf

CA1

Np

CA NpQf

QfCA

MFFM

FMQf

NpMF

Sintetic, rezultatele analizei factoriale sunt prezentate n tabelul XUP WRU

Tabelul 2.12 mil lei

'CA GDWRULW

1. 'Np 2. NpQf

din care

2.1.

NpMF

2.2.

MFFM

2.3.

FMQf

3. Qf

CA

4545 -374,4 6983,09 4024,55 430,55 2518,98 -2062,97

1RW 'LIHUHQ HOHvQUHJLVWUDWHODYHULILFDUHDPHWRGHLVXQWJHQHUDWHGHFDOFXOXO]HFLPDOXWLOL]DUHDXQXLQXP UOLPLWDWGH]HFLPDOH &RQFOX]LL &LIUD GH DIDFHUL D GHS LW YDORDUHD DQXOXL SUHFHGHQW FXPLOOHL$FHDVW FUHWHUHVHH[SOLF SULQLQIOXHQ DIDFWRULORUDVWIHO )DFWRUXO FDQWLWDWLY QXP U PHGLX GH SHUVRQDO V-a redus cu 8 VDODULD L L vQ FRQVHFLQ V-D GLPLQXDW L FLIUD GH DIDFHUL FX PLO OHLVLWXD LH QRUPDO GLQ SXQFW GH YHGHUH HFRQRPLF 5H]XOW F VRFLHWDWHa n FDX] D SXV XQ DFFHQW PDL UHGXV SH IDFWRUXO XPDQ GHFkW vQ DQXO 1-1, GHS LUHDYDORULLDFHVWHLDGDWRUkQGX-se n special factorului tehnic. 2. Productivitatea muncii pe un angajat a crescut cu 29,14% iar n FRQGL LLOH PHQ LQHULL FRQVWDQWH D FHORUODO L IDFWRUL GH LQIOXHQ FLIUD GHafaceri a crescut cu 6983,09 mil lei, aceasta fiind de altfel singurul factor cu DF LXQHGLUHFW FDUHDLQIOXHQ DWIDYRUDELOLQGLFDWRUXODQDOL]DW 'H]YROWkQG DQDOL]D SH IDFWRUL GH JUDGXO GRL VH REVHUY F VSRULUHDproductiviW LL PXQFLL D IRVW FRQVHFLQ D FUHWHULL JUDGXOXL GH vQ]HVWUDUHWHKQLF DPXQFLL vPEXQ W LULL VWUXFWXULLPLMORDFHORU IL[H vQ VHQVXO VSRULULLSRQGHULLPLMORDFHORUIL[HGLUHFWSURGXFWLYHvQWRWDOPLMORDFHIL[HLFUHWHULLHILFLHQ HL PLMORDFHORU IL[H SURGXFWLYH 7R L IDFWRULL GH JUDGXO GRL DXLQIOXHQ DWIDYRUDELOFLIUDGHDIDFHUL 'HLFLIUDGHDIDFHULDvQUHJLVWUDWWHQGLQ HIDYRUDELOHID GHDQXOSUHFHGHQW VH FRQVWDW WRWXL F ULWPXO GH FUHWHUH D SURGXF LHL IDEULFDWH Dfost superior ritmului de creWHUHDFLIUHLGHDIDFHUL,CA L,Qf = 127,15%) fapt ce s-a reflectat ntr-o majorare a stocurilor de produse. 6RFLHWDWHDWUHEXLHV LDP VXULSHQWUXOLFKLGDUHDDFHVWRUVWRFXULvQWU-o SHULRDG YLLWRDUHDVWIHOvQFkWV VHHYLWHLPRELOL]DUHDGHresursefinanciare n stocuri nevandabile sau lent vandabile. &DP VXULSHQWUXFUHWHUHDYkQ] ULORULLPSOLFLWDFLIUHLGHDIDFHULVHUHFRPDQG

GLPHQVLRQDUHD SURGXF LHL L D VWUXFWXULL DFHVWHLD vQ UDSRUW

cu cererea prin ncheierea unor contracte ferme cu beneficiarii; diversificarea ofertei; vPEXQ W LUHDFDOLW LLSURGXVHORUIDEULFDWHHWF

2.4.5 5HIOHFWDUHD PRGLILF ULL FLIUHL GH DIDFHUL vQ SULQFLSDOLLindicatori economico-financiari

0RGLILFDUHD FLIUHL GH DIDFHUL VH UHIOHFW vQ WR L LQGLFDWRULL GHpeUIRUPDQ HLUH]XOWDWHFDUHRLPSOLF vQFDOFXO a) Profitul brut ( ) 001 prCACA 0pr SURILWXOODXQOHXFLIU GHDIDFHUL

E5DWDUHQWDELOLW LLHFRQRPLFH

( )1

001At

prCACA At = active totale

F9LWH]DGHURWD Le a activelor circulante

TCAAC

TCAAC

0

0

1

0 AC = active circulante

d) Eliberarea/imobilizarea de activ FLUFXODQWFDHIHFWDOPRGLILF ULLYLWH]HLGHURWD LH

TCA

TCAAC

TCAAC 1

0

0

1

0

H(ILFLHQ DXWLOL] ULLPLMORDFHORUIL[H

1000MFCA

1000MFCA

1

0

1

1 MF = mijloace fixe

I(ILFLHQ DXWLOL] ULLSRWHQ LDOXOXLXPDQ

( )1

001Ns

prCACA 1Ns QXP UPHGLXGHVDODULD L

$QDOL]DYDORULLDG XJDWH

2.5.1 'HOLPLWDUHFRQFHSWXDO

9DORDUHD DG XJDW GHILQHWH GLPHQVLXQHD UHDO D DFWLYLW LLvQWUHSULQGHULL L UHSUH]LQW SOXVXO GH ERJ LH RE LQXW SHVWH FRQVXPXULOHLQWHUPHGLDUH SURYHQLWH GH OD WHU L SULQ YDORULILFDUHD WXWXURU UHVXUVHORUeconomice proprii.

2.5.2 Utilitate

D9DORDUHDDG XJDW SHUPLWHDSUHFLHUHDFRQWULEX LHLvntreprinderii la UHDOL]DUHD SURGXVXOXL LQWHUQ EUXW L HYLGHQ LHUHD JUDGXOXL GH LQWHJUDUH SHYHUWLFDO SULQUDSRUWDUHDODSURGXF LH b) Beneficiarii YDORULL DG XJDWH VXQW SHUVRQDOXO DF LRQDULL VWDWXOLQVWLWX LLOHGHFUHGLWLvQWUHSULQGHUHD

2.5.3 0HWRGHGHGHWHUPLQDUHDYDORULLDG XJDWH

9DORDUHDDG XJDW SRDWHILGHWHUPLQDW SULQGRX PHWRGHVXVWUDFWLY LDGLWLY

0HWRGDVXVWUDFWLY GLIHUHQ HL

$FHDVW PHWRG SUHVXSXQH VF GHUHD GLQ SURGXF LD H[HUFL LXOXL VDXdin cifra de afaceri a consumurilor intermediare provenite GHODWHU L

5HOD LLOHGHFDOFXOVXQW a1) Qa = Qe C unde Qe SURGXF LDH[HUFL LXOXL C = consumurile intermediare provenite GHODWHU L 4D YDORDUHDDG XJDW $FHDVW IRUPXO HVWH YDODELO vQ FD]XO VRFLHW LORU FDUH GHVI RDU DFWLYLWDWHGHSURGXF LH a2) Qa = (Qe + MC) C unde 0& PDUMDFRPHUFLDO

& FRQVXPXULOHLQWHUPHGLDUHSURYHQLWHGHODWHU LSHQWUXDFWLYLWDWHDGHSURGXF LHLFRPHU

5HOD LDHVWHYDODELO SHQWUXvQWUHSULQGHULOHFDUHGHVI RDU DFWLYitate GHFRPHU LSURGXF LH 0DUMDFRPHUFLDO 0&HVWHXQVROGLQWHUPHGLDUGHJHVWLXQHFDOFXODWFD GLIHUHQ vQWUH YDORDUHD P UIXULORU YkQGXWH L FRVWXO GH FXPS UDUH DOP UIXULORUYkQGXWH

0HWRGDDGLWLY

0HWRGDDGLWLY Sresupune nsumareaXUP WRDUHORUFRPSRQHQWH salarii FRQWULEX LLSHQWUXDVLJXU ULLSURWHF LHVRFLDO DPRUWL] UL provizioane FKHOWXLHOLFXLPSR]LWHLWD[HQXLQFOXGHLPSR]LWXOSHSURILW UH]XOWDWXOH[SORDW ULL cheltuieli financiare.

$QDOL]DGLQDPLFLLLVWUXFWXULLYDORULLDG XJDWH

6HUHDOL]HD] SULQXWLOL]DUHDXUP WRDUHORUSURFHGHH a) PRGLILFDUHDDEVROXW Qa = Qa1 Qa0 unde: UHSUH]LQW SHULRDGDFXUHQW UHSUH]LQW ED]DGHFRPSDUD LH b) LQGLFLLGHGLQDPLF FXED] IL[ LvQODQ 100

0QaQa

I NQa = LQGLFLFXED] IL[

1001

=

N

NQa Qa

QaI LQGLFLFXED] vQODQ

c)UDWHOHYDORULLDG XJDWH c1)UDWDYDULD LHLYDORULLDG XJDWH 100

0

01Qa

QaQaRQa

= HYLGHQ LD] PRGLILFDUHDSURFHQWXDO D

YDORULLDG XJDWHID GHED]DGHFRPSDUD LH

c2)UDWDYDORULLDG XJDWHJUDGXOGHLQWHJUDUHSHYHUWLFDO 100

CAQaR = sau 100Qe

QaR =

$FHDVW UDW HYLGHQ LD] FRQWULEX LD DGXV GH vQWUHSULQGHUH ODUHDOL]DUHD SURGXVXOXL ILQLW (D vQUHJLVWUHD] YDORULPDLPDUL SkQ la 75 vQ VHFWRUXO LQGXVWULDO L PDL UHGXVH SkQ OD vQ VHFWRUXOGLVWULEX LHL c3) UDWHOH GH UHPXQHUDUH D YDORULL DG XJDWH GHWHUPLQDWH FDSRQGHULDOHHOHPHQWHORUFRPSRQHQWHvQWRWDOYDORDUHDG XJDW a) rata de remunerare a personalului 100+= Qa

iiparticipatSalariiRp

b) rata de remunerare a statului 100Im = Qa

taxesipoziteRs

c) rata de remunerare a creditorilor 100= Qa

DobanziRc

GUDWDGHUHPXQHUDUHDDF LRQDULORU

100= QaDividendeRa

e) rata de remunerare a ntreprinderii 100Pr = Qa

netofitRi

f) rata de remunerare a capitalului tehnic 100= Qa

aamortizarecuCheltuieliRc

(YROX LD DFHVWRU UDWH VH VWXGLD] vQ SDUDOHO FX DO L LQGLFDWRUL GHHILFLHQ SURGXFWLYLWDWHDPXQFLLUDQGDPHQWXODFWLYHORULPRELOL]DWHD 6H DSUHFLD] FD VLWXD LH IDYRUDELO FUHWHUHD UDWHL GH UHPXQHUDUH DvQWUHSULQGHULLUHVSHFWLYGHYDQVDUHDULWPXOXLGHFUHWHUHDYDORULLDG XJDWHGHF WUHULWPXOGHFUHWHUHDSURILWXOXLQHW,Qa < IPN).

$QDOL]DIDFWRULDO DYDORULLDG XJDWH

Scopul analizei factoriale este determinarea abaterilor valorii DG XJDWHGHODED]DGHFRPSDUD LHHVWLPDUHDFRQWULEX LHLGLIHUL LORUIDFWRULGHLQIOXHQ ODIRUPDUHDLPRGLILFDUHDLQGLFDWRUXOXLDQDOL]DWLLGHQWLILFDUHDVROX LLORUGHUHGUHVDUHDDFWLYLW LLHFRQRPLFHYLLWRDUH

0RGHOHGHDQDOL]

I) aee

ee QQCQCQQa =

== 1

II) aases

es WNQ

QaNQ

NQa == ,

unde: =a YDORDUHDPHGLHDG XJDW ODOHXSURGXF LHDH[HUFL LXOXL =aW SURGXFWLYLWDWHDPHGLHDQXDO

& FRQVXPXULSURYHQLWHGHODWHU L

6FKHPDGHDQDOL] (pentru modelul I)

3HQWUXDQDOL]DIDFWRULDO DYDORULLDG XJDWHVHvor utiliza indicatorii din tabelul 2.13.

Qa

Qe

a

T

hW

sN

t

gi

ai

Tabelul nr. 2.13 (mii lei)

Nr. crt. Indicatori Simbol N - 1 N 1 3URGXF LDH[HUFL LXOXL Qe 26.208.000 30.029.000 2 &RQVXPXULOHSURYHQLWHGHODWHU L C 11.007.360 12.011.680 3 9DORDUHDDG XJDW VA 15.200.640 18.017.320 4 )RQGXOWRWDOGHWLPSGHPXQF RUH T 1.048.320 1.000.960 5 1XP UXOPHGLXGHVDODULD LSHUV Ns 560 544 6 Timpul mediu pe un salariat (ore) t 1.872 1.840 7 3URGXFWLYLWDWHDPHGLHRUDU hW 25 30 8 9DORDUHD PHGLH DG XJDW OD OHX

SURGXF LHOHL a 0,58 0,6

9 9DORDUHDPHGLHDG XJDW UHFDOFXODW OHLODOHXSURGXF LH

reca - 0,59

0HWRGRORJLDGHDQDOL] SUHVXSXQHDSOLFDUHDPHWRGHLVXEVWLWX LLORUvQODQ Qa = Qa1 Qa0 ,QIOXHQ DIDFWRULORU 1),QIOXHQ DPRGLILF ULLYDORULLSURGXF LHLH[HUFL LXOXL ( ) 001 aeee QQQ = GLQFDUHGDWRULW 1.1.) MRGLILF ULLIRQGXOXLWRWDOGHWLPSGHPXQF ( ) 00 ah01 WTTT = GLQFDUHGDWRULW 1.1.1.)0RGLILF ULLQXP UXOXLPHGLXGHVDODULD L ( ) 0001 ah0sss WtNNN = 1.1.2.)0RGLILF ULLWLPSXOXLPHGLXSHXQVDODULDW ( ) 001 ah01s WttNt = 1.2.) ModiILF ULLSURGXFWLYLW LLPHGLLRUDUH

( ) 00 ah1h1h WWTW = 2.,QIOXHQ DYDULD LHLYDORULLPHGLLDG XJDWHODOHX4e ( )011 aaea Q = GLQFDUHGDWRULW 2.1.)0RGLILF ULLVWUXFWXULLSURGXF LHL ( )01 arecaei Qg = unde 100ag 01 iireca = 2.2.)0RGLILF ULLYDORULLDG XJDWHODOHXSURGXF LHSHWLSXUL

GHDFWLYLW L

( )recaaea 11i Q = 6LQWHWLF UH]XOWDWHOH DQDOL]HL IDFWRULDOH D YDORULL DG XJDWH VXQWSUH]HQWDWHvQWDEHOXOXUP WRU

Tabelul nr. 2.14 mii lei

VA din care:

Qe (1)

din care:

T (1.1.) din

care:

Ns (1.1.1.)

t (1.1.2.)

Wh (1.2.)

a (2)

din care

gi (2.1.) 1a

(2.2.)

2.816.680 2.216.180 -686.720 -434.304 -252.416 2.902784 600.580 300.290 300.290

1RW 'LIHUHQ HOHvQUHJLVWUDWHvQWUHDEDWHUHDYDORULLDG XJDWHLVXPDDOJHEULF D LQIOXHQ HORU IDFWRULORU VXQW GHWHUPLQDWH GH FDOFXOXO ]HFLPDO DO

a (calculul cuGRX ]HFLPDOH &RQFOX]LL 9DORDUHD DG XJDW D vQUHJLVWUDW R FUHWHUH FX mii lei ID GHED]DGHFRPSDUD LH'LQSXQFWGHYHGHUHIDFWRULDODFHDVW HYROX LHVHH[SOLF DVWIHO &UHWHUHD SURGXF LHL H[HUFL LXOXL FX D GHWHUPLQDW vQ

FRQGL LLOHFRQVLGHU ULL FRQVWDQWH D a YDORULL DG XJDWHPHGLL XQ spor de YDORDUH DG XJDW GH PLL OHL 3HQWUX R DSUHFLHUH RELHFWLY DRSRUWXQLW LLP ULULL SURGXF LHLH[HUFL LXOXL VH LPSXQHGH]YROWDUHD DQDOL]HLSH HOHPHQWH FRPSRQHQWH SURGXF LH YkQGXW SURGXF LH LPRELOL]DW SURGXF LH VWRFDW 'DF JUDGXO GH YDORULILFDUH D SURGXF LHL UHDOL]DWH Dcrescut sau s-D PHQ LQXW FHO SX LQ OD QLYHOXO DQXOXL SUHFHGHQW SROLWLFDDGRSWDW GHVRFLHWDWHSRDWHILFRQVLGHUDW MXVW 'HWDOLHUHD DQDOL]HL SH IDFWRUL VHFXQGDUL SXQH vQ HYLGHQ UROXOexclusiv 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 (VWHSRVLELOFDVWUDWHJLDXQLW LL V VHILED]DWSHDFFHQWuarea rolului capitalului WHKQLF vQ UHDOL]DUHD DFWLYLW LL HFRQRPLFH QX VH GLVSXQH GH DVWIHO GHLQIRUPD LL

9DORDUHDDG XJDW ODOHXSURGXF LH ( )a a crescut cu 0,02 n N comparativ cu N-IDSWFHDGHWHUPLQDWLPDMRUDUHDYDORULLDG XJDWHWRWDOHcu 600.580 mii lei. 6HFRQVWDW F DFUHVFXWSRQGHUHDSURGXVHORUFXRYDORDUHDG XJDW

OD OHX SURGXF LH PDL PDUH GHFkW PHGLD vQWUHSULQGHULL 7RWRGDW ODSULQFLSDOHOH FDWHJRULL GH SURGXVH YDORDUHD DG XJDW OD OHX D FUHVFXWVLWXD LH IDYRUDELO UHIOHFWDW vQWU-XQ VSRU GH YDORDUH DG XJDW GH mii lei.

5HIOHFWDUHD PRGLILF ULL YDORULL DG XJDWH vQ SULQFLSDOLL

indicatori economico-financiari

0RGLILFDUHDYDORULLDG XJDWHvQVHQVXOFUHWHULLVDXUHGXFHULLDFHVWHLDse va refOHFWDvQDFHODLVHQVDVXSUDWXWXURULQGLFDWRULORUGHSHUIRUPDQ

DUH]XOWDWXOH[SORDW ULL

(Qa1 Qa0) pra0, 0

00 Qa

REpra = ,

unde: RE0 UH]XOWDWXOH[SORDW ULL SUD SURILWXOODOHXYDORDUHDDG XJDW

b) productivitatea muncii:

1

01Ns

QaQa ,

unde: 1V QXP UXOPHGLXGHVDODULD L

FUDWDUHQWDELOLW LLHFRQRPLFH

( )100

1

001AT

praQaQa ,

unde: AT = valoarea medie a activelor totale

GHILFLHQ DXWLOL] ULLDFWLYHORUIL[H

10001

01MF

QaQa ,

unde: MF = valoarea medie a mijloacelor fixe

GDO LLQGLFDWRUL

$SOLFD LLLvQWUHE UL

1. 6 VH LQWHUSUHWH]H HYROX LD DFWLYLW LL GH SURGXF LH Lcomercializare a ntreprinderii XWLLQGF

ICA = 108% unde CA = Cifra de afaceri IQe = 110% 4H 3URGXF LDH[HUFL LXOXL IQa = 111% 4I 3URGXF LD IDEULFDW H[SULPDW vQ

SUH GHYkQ]DUH IQf = 109% 4D 9DORDUHDDG XJDW

2.6 VHLQWHUSUHWH]HVLWXD LD

04,1II

QfCA

=

98,0II

QeQa

=

2,1II

QeQf

=

3. Cum se interpreteaz HYROX LDVWUXFWXULLFLIUHLGHDIDFHULGDF G1 = 0,72 unde: * HVWH FRHILFLHQWXO GH VWUXFWXU *LQL-

Struck G0 = 0,19

4.&HHYLGHQ LD] FLIUDGHDIDFHULPLQLP "'DUFLIUDPDUJLQDO ?

5. 6 VH DQDOL]H]H VWUXFWXUD FLIUHL GH DIDFHUL SH FOLHQ L WLLQG F VRFLHWDWHD FRPHUFLDO GLVSXQH GH R FOLHQWHO HWHURJHQ 6H FRQVLGHU XUP WRDUHDED] GHGDWH

Zona ABC Nr. crt. &OLHQ L

Cifra de afaceri

(mil lei)

&OLHQ L

ABC

Cifra de afaceri ABC

(mil lei)

Cifra de afaceri FXPXODW

(mil lei) FOLHQ L %CA

1 C1 3500 2 C2 6200 3 C3 830 4 C4 210 5 C5 99

Zona ABC Nr. crt. &OLHQ L

Cifra de afaceri

(mil lei)

&OLHQ L

ABC

Cifra de afaceri ABC

(mil lei)

Cifra de afaceri FXPXODW

(mil lei) FOLHQ L %CA

6 C6 76 7 C7 530 8 C8 417 9 C9 570 10 C10 1200 11 C11 138 12 C12 730 13 C13 890 14 C14 915 15 C15 420 16 C16 94 17 C17 76 18 C18 52 19 C19 5 20 C20 17

6 VHWUDVH]HFXUEDUHDO $%&V VHFRPSDUHFXFHDWHRUHWLF LV VHLQWHUSUHWH]HUH]XOWDWHOHRE LQXWH

6.6 VHGHWHUPLQHLQIOXHQ DPRGLILF ULLSURGXFWLYLW LLPXQFLLDVXSUDcifrei de afaceriLV VHLQWHUSUHWH]HFD]XOLQIOXHQ HLFXVHPQXO

7. &H VHPQLILFD LH HFRQRPLF DUH SODVDUHD FXUEHL UHale ABC sub FXUEDWHRUHWLF $%&?

8. &DUH D IRVW WHQGLQ D FLIUHL GH DIDFHUL vQ WHUPHQL UHDOL WLLQG F LQGLFHOH &$ vQ SUH XUL FXUHQWH HVWH GH LDU LQGLFHOH SUH XULORU GHvnzare este de 148%.

9. 6 VH GHWHUPLQH LQIOXHQ D PRGLILF ULL JUDGXOXL GH vQ]HVWUDUHWHKQLF DPXQFLLDVXSUDFLIUHLGHDIDFHUL6 VHLQWHUSUHWH]H MF/Ns = -x mii lei.

10. Care sunt partenerii sociali la repartizarea valoULLDG XJDWH?

11. 'DF ,Qa L ,Pr = 114%, cum aprecLD L DFWLYLWDWHDntreprinderii? (IQa LQGLFHOHYDORULLDG XJDWH,Pr = indicele profitului).

12.&HHVWHJUDGXOGHLQWHJUDUHSHYHUWLFDO "QFHGRPHQLLDSUHFLD LF HVWHPDLPDUHLGHFH?

13. Ce includ consuPXULOHLQWHUPHGLDUHGHODWHU L?

14.6 VHLQWHUSUHWH]HFD]XO IQa = 114% unde: Chs = cheltuieli cu personalul IQe = 126% 4D YDORDUHDDG XJDW Ichs = 119% 4H SURGXF LDH[HUFL LXOXL

15. 6 VH GHWHUPLQH LQIOXHQ D PRGLILF ULL VWUXFWXULL SURGXF LHLH[HUFL LXOXL SH SURGXVH VDX SH WLSXUL GH DFWLYLW L DVXSUD YDORULL DG XJDWHInterpretare pentru cazul gi = -y mii lei.

16.6 VHGHWHUPLQHLQIOXHQ DPRGLILF ULLWLPSXOXLPHGLXGHOXFUXSHRSHUVRDQ DVXSUDYDORULLDG XJDWH&D]Xl : t = +z mii lei.

17. &H VHPQLILFD LH DUH .n = 0,65% ? (Kn = coeficientul de QRPHQFODWXU

18.6 VHLQWHUSUHWH]HFD]XO Ks = 0,98 unde Ks = coeficientul de sortiment Kstr = 0,99 Kstr FRHILFLHQWXOGHVWUXFWXU Iq = 110% Iq = indicele volumulXL SURGXF LHL SH WRWDO

ntreprindere

19. &H VHPQLILFD LH DUH HYROX LD FRHILFLHQWXOXL PHGLX GH FDOLWDWH( )K pentru: 72,1K1 =

0K = 1,54

20. 6 VH GHWHUPLQH LQIOXHQ D PRGLILF ULL VWUXFWXULL SURGXF Lei IDEULFDWHDVXSUDFRHILFLHQWXOXLPHGLXJHQHUDOL]DWDOFDOLW LL

21.6 VHLQWHUSUHWH]HHYROX LDFDOLW LLSURGXF LHLWLLQGF 1p = 79.520 lei/buc unde: p SUH XOPHGLX

0p = 66.417 lei/buc

22.&XPLQIOXHQ HD] FDOLWDWHDDVXSUDLQGLFDWRULORUGHSHUIRUPDQ HLrezultate?

23. Ce eviden LD] FRHILFLHQWXOGHVRUWLPHQW"'DUFHOGHVWUXFWXU ?

24.3HED]DGDWHORUV VHDQDOL]H]HHYROX LDFDOLW LLSURGXVXOXL[

Cantitate (buc) Structura 4Fw w.

A

echivalente Clasa

de calitate Programat Realizat Programat Realizat

Coeficient de

44

$

Programat Realizat Clasa I 76.000 80.000 Clasa a II-a 55.300 59.000

Clasa a III-a 49.700 45.000

TOTAL 181.000 184.000

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

5HGXFHUHDDEVROXW LUHODWLY DFRVWXULORUGHSURGXF LHGHSULQFLSLXSRDWHILFRQFHSXW QXPDLDFRORXQGHH[LVW UH]HUYHvQDFHVWVHQV Teoretic, vQ RULFH vQWUHSULQGHUH H[LVW DVHPHQHD UH]HUYH GHWHUPLQDWH Ge progresul FRQWLQXX DO IDFWRULORU GH SURGXF LH GH DSOLFDUHD vQ SUDFWLF D UH]XOWDWHORUFHUFHW ULORU WLLQ LILFH 3XQHUHD ORU vQ YDORDUH HVWH FRQGL LRQDW GHFXQRDWHUHD H[LVWHQ HL DFHVWRUD D GLPHQVLXQLL ORU L GH DF LXQHD IDFWRUXOXLuman pentru materialL]DUHDP VXULORUVWDELOLWH &RQGXFHUHDSULQFRVWXUL LPSOLF VWDELOLUHDXQRUFRVWXULFRQVLGHUDWHQRUPDOH FDUH FRQVWLWXLH FULWHULXO SHUPDQHQW GH FRPSDUD LH Dcomportamentului diferitelor categorii de cheltuieli. &HUHSUH]LQW FRVWXULOHQRUPDOH"(VWHJUHXGHGDWRGHILQL LHVDXRPRGDOLWDWH GH SUHVWDELOLUH 7HRULD L SUDFWLFD PRQGLDO FRQVLGHU FD ILLQGcosturi normale:

standardele de cheltuieli stabilite pe baza tehnologiilor de IDEULFD LH FDUH DVLJXU RE LQHUHD SURGXVHORU OD SDUDPHWULLSURLHFWD L

nivelXO FHO PDL VF ]XW GH FKHOWXLHOL vQUHJLVWUDWH vQ UDPXUD GHDFWLYLWDWHUHVSHFWLY

FRVWXULOH FDUH DVLJXU XQ SURILW QHW DQXDO HFKLYDOHQW GREkQ]LLDIHUHQWHFDSLWDOXOXLSURSULXQOHJ WXU FXDFHDVW SUREOHP vQOLWHUDWXUDGHVSHFLDOLWDWHVHGDXDQXPLWHP ULmi, ca de exemplu 12% din capitalul propriu.

,PSRUWDQWHVWHFDvQILHFDUHvQWUHSULQGHUHV H[LVWHXQSURJUDPSODQDO FRVWXULORU FDUH V ILH vQ SHUPDQHQ DGDSWDW FRQGL LLORU FRQFUHWH DOH

3

PRPHQWXOXL FRQVWLWXLQG ED]D GH UDSRUWDUH SHQWUX UHDOL] ULOH ILHF rei perioade. Q DERUGDUHD SUREOHPDWLFLL FRVWXULORU D ILHF UHL FDWHJRULL GHFKHOWXLHOL WUHEXLH V VH SRUQHDVF GH OD IXQF LLOH SH FDUH DFHVWHD OH DX vQEXQD IXQF LRQDUH D ILUPHL 2ULFH VXSUD VDX VXEGLPHQVLRQDUH FUHHD] GLVIXQF LRQDOLW L &D DWDUH D HFRQRPLVL QX vQWRWGHDXQD vQVHDPQ D QXFKHOWXL VDX D QX FRQVXPD FHHD FH HVWH IRDUWH VLPSOX FL WUHEXLH SXV SUREOHPDLvQVHQVXOXUP WRUFkWVHSLHUGHGDF QXVHFKHOWXLHOHXetc.) n plus. ,QWHJUDW vQDFWLYLWDWHDSUDFWLF GHFRQGXFHUH WHPDWLFD cheltuielilor GHSURGXF LHHVWHRSUREOHP LQWHUQ DILHF UHLvQWUHSULQGHULFDUHWUHEXLHV ILH FLUFXPVFULV vQWU-un cadru legislativ general viznd aspecte RUJDQL]DWRULFH DOH HYLGHQ HL SUHFXP L QLYHOXUL QRUPDWH UHJOHPHQWDWHpentru unele categorii de FKHOWXLHOL $D GH H[HPSOX SULQ /HJHDFRQWDELOLW LL 1U L +* ;,, SULQ FDUH V-a aprobat UHJXODPHQWXO GH DSOLFDUH D OHJLL L SODQXO FRQWDELO JHQHUDO V-D SUHY ]XWclasa 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 FKHOWXLHOLORUDFHDVWDWUHEXLHV ILHSULQH[FHOHQ RFRPSRQHQW PDMRU DPDQDJHPHQWXOXLintern al firmeLFDUHV DVLJXUHUHDOL]DUHDXQRUFRVWXULFRPSHWLWLYH 0RGDOLW LOH GH UHDOL]DUH L UHVSHFWLY GH RUJDQL]DUH D PXQFLL GHDQDOL] DSUREOHPDWLFLLDERUGDWHVXQWGLIHULWHvQUDSRUWGHVFRSLVXELHFWXOFDUHRUHDOL]HD] &XWRDWHDFHVWHDH[LVW RPHWRGRORJLHGHDQDOL] DFKHOWXLHOLORUFDUHRIHU XQ FDGUX JHQHUDO SRVLELO GH DGRSWDW GH F WUH XWLOL]DWRUL 3ULQFLSDOHOHDVSHFWHFDUHVHDERUGHD] vQFRQWLQXDUHVXQW

3.1 Analiza cheltuielilor aferente veniturilor ntreprinderii

5HDOL]DUHD XQXL YHQLW L UHVSHFWLY SURILW LPSOLF HIHFWXDUHD GHFKHOWXLHOLQFRQWDELOLWDWHDILQDQFLDU FKHOWXLHOLOHVH vQUHJLVWUHD] SHIHOXULGHFKHOWXLHOLGXS QDWXUDORULVHJUXSHD] vQ

a) cheltuieli de exploatare care cuprind categoriile de consumuri privind realizarea RELHFWXOXL GH DFWLYLWDWH L FHOH DIHUHQWH DFHVWRUD ([HPSOXprovizioanele 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] activiWDWHDILQDQFLDU vQDIDUDH[SORDW ULL F FKHOWXLHOL H[FHS LRQDOH FDUH QX VXQW OHJDWH GH DFWLYLWDWHD FXUHQW QRUPDO VHUHIHU ODGHVS JXELULDPHQ]LSHQDOL] ULGRQD LLVXEYHQ LLHWF (YLGHQ D DFHVWRU FKHOWXLHOL VH UHDOL]HD] FX DMXWRUXO FRQWXULORr din grupa 6 FRQWXUL GH FKHOWXLHOL FDUH VH GH]YROW SH DQDOLWLFH GH JUDGXO ,,, L,9 9HQLWXULOHvQWUHSULQGHULLUHSUH]LQW VXPHOHvQFDVDWHVDXGHvQFDVDWvQFXUVXOH[HUFL LXOXLLVHJUXSHD] vQ a) venituri din exploatare n care se includ venituriOHUHDOL]DWHGLQRSHUD LLOHFDUH IRUPHD] RELHFWXO GH DFWLYLWDWH OD FDUH VH DGDXJ YHQLWXULOH GLQSURGXF LHVWRFDW LLPRELOL]DW SUHFXPLDOWHYHQLWXULOHJDWHGHH[SORDWDUH E YHQLWXUL ILQDQFLDUH vQ FDUH VH LQFOXG YHQLWXULOH GLQ SDUWLFLSD LL GLQ DOWe LPRELOL] ULGLQWLWOXULGHSODVDPHQWHWF FYHQLWXULH[FHS LRQDOHGHVS JXELULSHQDOLW LvQFDVDWHHWF (YLGHQ D YHQLWXULORU VH UHDOL]HD] FX DMXWRUXO FRQWXULORU GLQ FODVD 7 Conturi de venituri. Q JHQHUDO VH SRDWH IDFH R FRUHOD LH vQWUH YHQLWXUL L FKHOWXLHOL vQVHQVXO F UHDOL]DUHD XQXL YHQLW SUHVXSXQH HIHFWXDUHD XQHL FKHOWXLHOL VDXLQYHUV 'DU VXQW L H[FHS LL $D GH H[HPSOX FKHOWXLHOLOH ILQDQFLDUH GHUHJXO QXJHQHUHD] YHQLWXULLDUUHDOL]DUHDDFHVWRUDQXSUHVXSXQHFKHOWXLHOL$FHOHDLUHJXOLOHDXLXQHOHFKHOWXLHOLLYHQLWXULH[FHS LRQDOH $QDOL]D FKHOWXLHOLORU DIHUHQWH YHQLWXULORU YL]HD] HYROX LD ORU LIDFWRULLFDUHRGHWHUPLQ vQYHGHUHDLGHQWLILF ULLSRVLELOLW LORUGHGLPLQXDUHvQ VFRSXO VSRULULL UHQWDELOLW L ,QWHJUDW vQ DFWLYLWDWHD SUDFWLF GH JHVWLXQHDFHDVW DQDOL] UHSUH]LQW R SULP HWDS GH LQIRUPDUH DVXSUD GLQDPLFLLFKHOWXLHOLORU QDFHVWVFRS VHXWLOL]HD] LQGLFDWRUXO&KHOWXLHOL OD OHLYHQLWXUL & FDUH VH GHWHUPLQ FD UDSRUW vQWUH FKHOWXLHOLOH WRWDOH chi Lvenituri (Vi)

1001000

1

1 iin

ii

n

ii

cgCsau

V

chC

==

=

=

n care: gi UHSUH]LQW VWUXFWXUDYHQLWXULORUSHFDWHJRULL ci = cheltuieli la 1000 lei venituri pe categorii de venituri.

'HDLFLUH]XOW F ID GHRED] GHUHIHULQ PRGLILFDUHDQLYHOXOXLcheltuieliORUODOHLYHQLWXULVHGDWRUHD] LQIOXHQ HLVWUXFWXULLYHQLWXULORULDQLYHOXOXLFKHOWXLHOLORUODOHLSHFDWHJRULLGHYHQLWXUL 3HQWUX VHSDUDUHD FHORU GRX LQIOXHQ H HVWH QHFHVDU UHFDOFXODUHDFKHOWXLHOLORUODOHLvQIXQF LHGHVWUXFWXUDQLYHOXOXLFRPSDUDWLDUDWHORUSHFDWHJRULLGHYHQLWXULGLQED]DGHUHIHULQ 3HQWUXH[HPSOLILFDUHVHIRORVHVFXUP WRDUHOHGDWH7DEHOXOGDWHH[WUDVHGLQFRQWXOGHSURILWLSLHUGHUHOD6&;6$

Tabelul 3.1 (mil. lei)

3HULRDGDFXUHQW Nr. crt. 6SHFLILFD LH

Perioada SUHFHGHQW

Pn-1 3UHY ]XW

P0 Realizat

P1 1. Cheltuieli de exploatare 3000 3500 3800 2. Cheltuieli financiare 250 300 280 3. &KHOWXLHOLH[FHS LRQDOH 150 170 180

TOTAL cheltuieli 3400 3970 4260 4. Venituri din exploatare 3680 (92) 4218 (90) 4630 (94) 5. Venituri financiare 160 (4) 328 (7) 196 (4) 6. 9HQLWXULH[FHS LRQDOH 160 (4) 141 (3) 99 (2)

TOTAL venituri 4000 4687 4925 7. Cheltuieli la 1000 lei venituri (lei) a) de exploatare 815,22 829,72 820,73 b) financiare 1562,50 914,63 1428,56 FH[FHS LRQDOH 937,50 1205,67 1818,18

TOTAL 850,00 847,00 864,97

1RW FLIUHOHGLQSDUDQWH] UHSUH]LQW VWUXFWXUDYHQLWXULORU Q FD]XO GDW UH]XOW F ID GH UHDOL] ULOH SHULRDGHL SUHFHGHQWH VHSUHYHGH R VSRULUH D HILFLHQ HL (respectiv, o diminuare a nivelului cheltuielilor), nregistrndu-VH vQ IDSW R VLWXD LH LQYHUV 6XE DVSHFWmetodologic, o asWIHOGHVWDUHVHH[SOLF DVWIH 0RGLILFDUHID GHFULWHULXOGHFRPSDUD LH

P0 Pn-1 P1 P0 847 850 = -3,0 lei 864,97 847 = + 17,97 lei

,QIOXHQ DVWUXFWXULLYHQLWXULORU

0,90 815,22 = 733,70 0,94 829,77 = 779,98 0,07 1562,50 = 109,38 0,04 914,63 = 36,59

2,87112,2850,93703,0 =

68,84011,2457,120502,0 =

871,2 850 = +21,20 lei; 840,68 847 = - 6,32 lei

3,QIOXHQ DQLYHOXOXLFKHOWXLHOLORUODOHLYHQLWXULSHFDWHJRULLGHvenituri

lei0,320,2420,871847

=

lei97,1729,2468,84097,864

+

+=

$FHVWHGDWHDWHVW IDSWXOF V-DDYXWvQYHGHUHDPSOLILFDUHDHILFLHQ HLcheltuielilor pe seama reducerii cheltuielilor pe categorii de venituri, care a vQUHJLVWUDW vQV RHYROX LH LQYHUV QFHHDFHSULYHWHVWUXFWXUDYHQLWXULORUFD IDFWRU GH LQIOXHQ GH SULQFLSLX WUHEXLH FRQVLGHUDW FD XQ IDFWRU GHH[SOLFDUHDUH]XOWDWXOXLILLQGRUH]XOWDQW DGLQDPLFLLYHQLWXULORU$FHasta nu exclude posibilitatea folosirii acestui factor ca mijloc de realizare a unui RELHFWLYGDF H[LVW FRQGL LLIDYRUL]DQWH QDFWLYLWDWHDSUDFWLF WUHEXLHDYXWHvQYHGHUH

OXDUHD vQ FRQVLGHUDUH D LQIOD LHL FHHD FH SUHVXSXQH FRUHFWDUHDbazei de compDUD LH FX XQ FRHILFLHQW FDUH V UHIOHFWH FRUHOD LDGLQWUH FUHWHUHD SUH XULORU WXWXURU FDWHJRULLORU GH UHVXUVHFXFDUHVH DSURYL]LRQHD] vQWUHSULQGHUHD ,FKL L GLQDPLFD SUH XULORU SHVHDPDF URUDVHIRUPHD] YHQLWXULOH,vi).

'DF ,FKL L,vi = 1DWXQFLED]DGHFRPSDUD LHYDIL

.lei3,887105110847 =

(VWHHYLGHQWF ID GHDFHDVW ED] GHUDSRUWDUHUH]XOWDWXORE LQXWHVWHIDYRUDELOGDUHOWUHEXLHLQWHUSUHWDWvQVHQVXOF V-DUILRE LQXWGDF QXDUILLQWHUYHQLWPRGLILF ULOHGHSUH XULindependente de ntreprindere.

H[SOLFDUHDSH ILHFDUHFDWHJRULHGHYHQLWXUL D HYROX LHL HILFLHQ HLvQ IXQF LH GH IDFWRULL VSHFLILFL FDUH R LQIOXHQ HD] PDL DOHV vQVLWXD LLFDFHDGLQH[HPSOXOGDW vQFDUH FKHOWXLHOLOH ILQDQFLDUH LFHOHH[FHS LRQDOHGHS esFVXEVWDQ LDOYHQLWXULOH

0RGDOLW LOHGHDQDOL] YRUILSUH]HQWDWHSHSDUFXUV Modificarea nivelului cheltuielilor totale la 1000 lei venituri se UHIOHFW vQP ULPHDUH]XOWDWXOXLH[HUFL LXOXLvQDLQWHGHLPSR]LWDUH (IHFWXOVHGHWHUPLQ FXDMXWRUXOUHOD LHL

( ) ( ) lei.mil5,881000492584757,864

1000viCC 01 ==

FHHDFHvQVHDPQ RGLPLQXDUHDUH]XOWDWXOXLID GHFHOSUHY ]XWSULQEXJHWXOGHYHQLWXULLFKHOWXLHOL(YLGHQWRDVHPHQHDLQIOXHQ QHIDYRUDELO SRDWHILFRPSHQVDW SULQ PDVD YHQLWXOXL FDUH FRQVWLWXLH R DOWHUQDWLY SHQWUu un anumit orizont.

3.2 Analiza cheltuielilor de exploatare

&KHOWXLHOLOHGHH[SORDWDUHGH LQSRQGHUHDFHDPDLPDUHHOHILLQGvQOHJ WXU GLUHFW FXRELHFWXOGHDFWLYLWDWHDO vQWUHSULQGHULLFRQVWLWXLQGDVWIHOGRPHQLXOSULQFLSDOvQFDUHVHSRWLQL LDLUHDOL]DFHOHPDLLPSRUWDQWHP VXULGHVSRULUHDHILFLHQ HLHFRQRPLFH Cheltuielile de exploatare cuprind, potrivit prevederilor art. 96 din 5HJXODPHQWXOGHDSOLFDUHD/HJLLFRQWDELOLW LLXUP WRDUHOHHOHPHQWH

cheltuieli privind consumurile de materii prime, materiale, FRPEXVWLELOHQHUJLHLHOHPHQWHDVLPLODWH

FKHOWXLHOLOH FX OXFU ULOH L VHUYLFLLOH SUHVWDWH GH WHU L FKLULLORFD LLGHJHVWLXQHDOWHFKHOWXLHOL

FKHOWXLHOL FX LPSR]LWHOH L WD[HOH VXSRUWDWH GH XQLWDWHDSDWULPRQLDO

cheltuieli cu personalul; alte cheltuieli de exploatare.

Q DQDOL]D FKHOWXLHOLORU GH H[SORDWDUH VH IRORVHWH QLYHOXO ORU OD 1000 lei venituri din exploatare, ca parte a ntregului folosit anterior, XUP ULQGX-VHGLQDPLFDLPRGLILF ULOH LQWHUYHQLWH vQVWUXFWXUDFKHOWXLHOilor. Acest lucru este important att pentru formarea imaginii asupra modului n care s-D UHDOL]DW SURJUDPXO VWDELOLW L vQ VSHFLDO SHQWUX LGHQWLILFDUHDFDWHJRULLORU GH FKHOWXLHOL FDUH QHFHVLW R DWHQ LH GHRVHELW GLQ SDUWHDfactorilor de decizie. ntruckW GLQDPLFD HILFLHQ HL FKHOWXLHOLORU GH H[SORDWDUH HVWHFXQRVFXW GLQ SDUDJUDIXO DQWHULRU VH YD SUH]HQWD DQDOL]D VWUXFWXUDO vQIXQF LH GH QDWXUD FKHOWXLHOLORU DIHUHQWH SURGXF LHL WRWDOH D H[HUFL LXOXLILQDQFLDULQFOXVLYFRVWXOP UIXULORUYkQGXWHvQFRUHOD LHFXYDORDUHDORU

QDFHVWVFRSSHED]DGDWHORUGLQFRQWXOGHSURILWLSLHUGHUHLDOWHVXUVHVHvQWRFPHWHWDEHOXOXUP WRUWDEHOXO):

Tabelul 3.2 Cheltuieli la 1000 lei venituri din

exploatare (lei 0RGLILF UL

Nr. crt.

6SHFLILFD LH

Perioada SUHFHGHQW

3UHY ]XW Realizat col. 4

col. 2

col. 4

col. 3 1 &RVWXOP UIXULORUYkQGXWH

(ct. 607) - - - - - 2 0DWHULL SULPH L PDWHULDOH

consumabile (ct. 600 + 601) 427,49 449,889 444,55 +17,15 -5,32 3 &RPEXVWLELOLHQHUJLHLDS

(ct. 605) 86,82 86,54 85,37 -1,45 -1,17 4 Alte cheltuieli

(ct. 602, 603, 604, 606, 608)

28,86 28,63 27,58 -1,28 -1,05

5 /XFU ULLVHUYLFLLH[HFXWDWHGHWHU LFWOD ct. 621 la 628)

11,07 8,30 12,48 +1,41 +4,18

6 ,PSR]LWH WD[HLY UV PLQWHasimilate (ct. 631 + 635) 8,09 8,80 11,90 +3,81 +3,10

7 Salarii personal (ct. 641) 178,76 181,20 165,40 -13,36 -15,80 8 $VLJXU UL L SURWHF LH

VRFLDO FW 55,41 43,15 51,22 -4,19 +8,07

9 Alte cheltuieli de exploatare (ct. 654 + 658) 1,10 - 1,23 +0,13 +1,23

10 $PRUWL] ULLSURYL]LRDQH (ct. 681) 17,62 23,23 21,00 +3,38 -2,23

TOTAL 815,22 829,72 820,73 +5,60 -8,99

'LQGDWHOHDVWIHOVWUXFWXUDWHUH]XOW F ID GHSUHYHGHUHDGHFUHWHUHa cheltuielilor de exploatare la 1000 lei venituri, s-a realizat o reducere pe WRWDO L FDWHJRULL GH FKHOWXLHOL ([FHS LH IDF XQHOH FKHOWXLHOL GDU QX DXSRQGHULvQVHPQDWHDOWHFKHOWXLHOLGHH[SORDWDUHDVLJXU ULLSURWHF LHVRFLDO etc.). ntr-RDVHPHQHDVLWXD LHvQDFWLYLWDWHDSUDFWLF GLQSXQFWGHYHGHUHmetodologic, estH QHFHVDU V VH DQDOL]H]H ILHFDUH FKHOWXLDO LQGLIHUHQW GHHYROX LDHLvQVFRSXOLGHQWLILF ULLSRVLELOLW LORUGHUHGXFHUHPHWRGRORJLDYDILSUH]HQWDW vQDOWHSDUDJUDIH

$QDOL]D HILFLHQ HL FKHOWXLHOLORU GH H[SORDWDUH SRDWH IL HIHFWXDW vQraport de fRUPDUHDYHQLWXULORULQLYHOXOFKHOWXLHOLORUSHFDWHJRULLGHYHQLWXUL

QDFHVWVFRSGDWHOHQHFHVDUHVHSUH]LQW DVWIHO Tabelul 3.3

(mil. lei) 3HULRDGDFXUHQW Nr.

crt. Indicatori Perioada SUHFHGHQW 3UHY ]XW Realizat

1 Venituri din exploatare, din care aferente: 3680 4218 4630

2 3URGXF LHLYkQGXWH 3386 (92) 4007 (95) 4375 (94,5) 3 3URGXF LHLVWRFDWH 184 (5) 42 (1) 162 (3,5) 4 3URGXF LHLLPRELOL]DWH 110 (3) 169 (4) 93 (2) 5 Cheltuieli din exploatare, din care aferente: 3000 3500 3800 6 3URGXF LHi vndute 2706 3289 3545 7 3URGXF LHLVWRFDWH 184 42 162 8 3URGXF LHLLPRELOL]DWH 110 169 93 9 Cheltuieli de exploatare la 1000 lei

venituri (lei) din care aferente: 815,22 829,72 820,73 10 3URGXF LHLYkQGXWH 799,17 820,81 810,29 11 $IHUHQWHSURGXF LHLVWRFDWHLLPRELOL]DWH 1000 1000 1000

1RW : &LIUHOH GLQ SDUDQWH] UHSUH]LQW VWUXFWXUD YHQLWXULORU vQprocente. QDQDOL]DFKHOWXLHOLORUGHH[SORDWDUHvQIXQF LHGHFULWHULXODPLQWLWWUHEXLH V VH LQ VHDPD GHPRGXO GH IRUPDUH D YHQLWXULORU GLQ SURGXF LDVWRFDW LLPRELOL]DW UHVSHFWLYHYDOXDUHDvQFRVWXULFHHDFHFRQGXFHODXQQLYHODOFKHOWXLHOLORUODOHLQFRQVHFLQ RFUHWHUHDSRQGHULLDFHVWRUGRX HOHPHQWHDUHFDHIHFWGLPLQXDUHDHILFLHQ HLFKHOWXLHOLORUGHH[SORDWDUH Din puncW GH YHGHUH PHWRGRORJLF SHQWUX D GHOLPLWD LQIOXHQ DVWUXFWXULL YHQLWXULORU GH FHD D QLYHOXOXL FKHOWXLHOLORU DIHUHQWH SURGXF LHLYkQGXWHVHSURFHGHD] FDvQFD]XOSUHFHGHQWUHVSHFWLYVHIDFHUHFDOFXODUHDcheltuielilor la 1000 lei venituri de exploatare. 1. Modificarea cheltuielilor la 1000 lei venituri din exploatare (lei),

P0 Pn-1 P1 P0 829,72 815,22 = 14,50 lei 820,73 829,72 = -8,99 lei

,QIOXHQ DVWUXFWXULLYHQLWXULORUGLQH[SORDWDUH

0,95 799,17 = 759,21 0,945 820,81 = 775,67

21,8090,50100005,0

67,8300,551000055,0

809,21 815,22 = -6,01 lei 830,67 829,72 = +0,95 lei

,QIOXHQ D FKHOWXLHOLORU OD OHL YHQLWXUL DIHUHQWH SURGXF LHLvndute

829,72 809,21 = +20,51 820,73 830,67 = -9,94

$QDOL]DGDWHORUHYLGHQ LD] IDSWXOF VWUXFWXUDYHQLWXULORUFRUHFWHD] vQ PLQXV VDX SOXV LQIOXHQ D H[HUFLWDW GH QLYHOXO FKHOWXLHOLORU DIHUHQWHSURGXF LHL YkQGXWH FDUH FRQVWLWXLH HOHPHQWXO SULQFLSDO DO FKHOWXLHOLORU GHexploatare. QFHHDFHSULYHWHHYROX LDSURGXF LHLVWRFDWHLLPRELOL]DWHWUHEXLHV VHIDF GLVWLQF LHvQWUHYROXPXOIL]LFLFRVWXODIHUHQWvQWUXFkWDFHVWHDDXVHPQLILFD LH FDX]H L HIHFWH GLIHULWH $VWIHO FUHWHUHD VDX VF GHUHDSURGXF LHL VWRFDWH L UHVSHFWLY LPRELOL]DWH FRPSDUDWLY FX UHDOL] ULOHperioadHL DQWHULRDUH VDX FX SUHYHGHULOH SRDWH IL GHWHUPLQDW GH IDFWRULFRQMXQFWXUDOL DL SLH HL VDX GH DOW QDWXU VDX RS LXQH D FRQGXFHULL SHQWUXrealizarea unor obiective viitoare. Modificarea costurilor aferente este GHWHUPLQDW GH IDFWRUL VSHFLILFL UHIOHFWkndu-VH FRUHVSXQ] WRU vQ UH]XOWDWXOH[HUFL LXOXL$VHPHQHDDVSHFWHSRWIL VROX LRQDWHSULQFRUHODUHDGDWHORUGLQFRQWDELOLWDWHD JHQHUDO ILQDQFLDU FX FHOH GLQ FRQWDELOLWDWHD GH JHVWLXQHDQDOLWLF

$QDOL]DFKHOWXLHOLORUODOHLFLIU GHDIDFHri

3RWULYLWUHJOHPHQW ULORUvQYLJRDUHFLIUDGHDIDFHULVHFDOFXOHD] SULQvQVXPDUHDYHQLWXULORUUH]XOWDWHGLQOLYU ULOHGHEXQXULH[HFXWDUHDGHOXFU ULLSUHVW ULOHGHVHUYLFLLLDOWHYHQLWXULGLQH[SORDWDUHPDLSX LQUDEDWXULOHLUHPL]HOHLDOWHUHGXFHULDFRUGDWHFOLHQ LORU$UWLFROXOGLQ5HJXODPHQWXOGHDSOLFDUHD/HJLLFRQWDELOLW LL &D SULQFLSDO SDUWH FRPSRQHQW D FKHOWXLHOLORU OD OHL YHQLWXULGLQH[SORDWDUHFKHOWXLHOLOHODOHLFLIU GHDIDFHUL &SRWILH[SULPDWHcu ajutorul modelului: 1000

qpqcC

=

n care: T FDQWLWDWHDYkQGXW c = costul produselor S SUH XOPHGLXGHYkQ]DUHH[FOXVLY79$

5HOD LDGHPDLVXVSRDWHILVFULV LDVWIHO

= 1000pcgC

n care:

J VWUXFWXUDSURGXF LHLYkQGXWHVWDELOLW YDORULF

qpqp

=1000pc

nivelul cheltuielilor la 1000 lei pe produse

'H DLFL UH]XOW F IDFWRULL FDUH LQIOXHQ HD] FKHOWXLHOLOH OD OHLFLIU GHDIDFHULVXQWVWUXFWXUDSURGXF LHLSUH XOPHGLXGHYkQ]DUHL costul produselor. ([HPSOLILFDUHD PHWRGRORJLHL GH DQDOL] QHFHVLW XUP WRDUHOH GDWH(tabelul 3.4):

Tabelul 3.4 (mil. lei)

Nr. crt. Indicatori 3UHY ]XW Realizat

1 Cifra de afaceri ( ) qp 4007 4375 2 Cheltuieli aferente cifrei de afaceri ( ) qc 3289 3546 3 &LIUDGHDIDFHULUHFDOFXODW ( ) 01pq - 4500 4

Cheltuieli aferente cifrei de afaceri recalculate ( ) 01cq - 3672

5 &KHOWXLHOLODOHLFLIU GHDIDFHULOHL 820,81 810,51

ReducereD vQ FD]XO GDW DO QLYHOXOXL FKHOWXLHOLORU OD OHL FLIU de afaceri de 10,30 lei (810,51 VHH[SOLF SULQLQIOXHQ D

D6WUXFWXULLSURGXF LHLYkQGXWH

000

00

01

01 CCsau1000pqpq

1000pqcq

lei81,481,8208161000400732891000

45003672

==

Interpretat metodologic, acest rezultat FX VHPQLILFD LH HFRQRPLF SR]LWLY GH UHGXFHUH D FKHOWXLHOLORU OD OHL HVWH XUPDUHDPRGLILF ULLVWUXFWXULL SURGXF LHL YkQGXWH vQ VHQVXO FUHWHULL SRQGHULL SURGXVHORU FX RUHQWDELOLWDWHSUHY ]XW PDLPDUH$DGXS FXPV-a mai precizat, structura proGXF LHL YkQGXWH SRDWH IL FRQVLGHUDW DWkW FD IDFWRU GH H[SOLFDUH

D UH]XOWDWXOXLFkW LGH UHDOL]DUHDXQXLRELHFWLYSUHY ]XW QFRQVHFLQ vQDFWLYLWDWHD SUDFWLF HVWH DEVROXW QHFHVDU V VH SUHFL]H]H FRQGL LLOH vQ FDUH s-DX SURGXV PRGLILF ULOH vQ VWUXFWXUD SURGXF LHL YkQGXWH DYkQGX-se n YHGHUHHIHFWHOHPXOWLSOHGLUHFWHLLQGLUHFWHSHFDUHOHGHWHUPLQ E3UH XULORUPHGLLGHYkQ]DUH

001

0

11

01 CCsau1000pq

qc1000

pqcq

lei31,2300,81631,839100045003672100

43753672

+==

6F GHUHD ID GH QLYHOXO SUHY ]XW D SUH XULORUPHGLL GH YkQ]DUH D FRQGXVODRFUHWHUHDQLYHOXOXLFKHOWXLHOLORUODOHLFLIU GHDIDFHULFHHDFHvQVHDPQ vQXOWLP LQVWDQ VF GHUHDSURILWXOXL&DDWDUHDGRSWDUHDXQRUGHFL]LL UHIHULWRDUH OD SROLWLFD GH SUH XUL WUHEXLH V VH ED]H]H SH DQDOL]Dtuturor cauzelor care DXGHWHUPLQDWPLFDUHD vQH[HPSOXOGDWDSUH XULORUde vnzare. QJHQHUDOVHSRDWHVSXQHF PRGLILFDUHDSUH XULORUGHYkQ]DUHHVWHGHWHUPLQDW GH VFKLPEDUHD UDSRUWXOXL FHUHUH-RIHUW /D QLYHOXO ILHF UXLSURGXF WRULUHVSHFWLYRIHUWDQWGHSURGXVHpot fi identificate unele cauze FXP DU IL FDOLWDWHD SURGXVHORU LQFOXVLY SURGXVH GLIHUHQ LDWH SH FDOLW LPDUFDGHIDEULF SURGXF LHVDXFRPHU VFKLPEDUHDGHVWLQD LHLSURGXVXOXLLQWHUYHQ LD VWDWXOXL vQ FD]XO XQRU SURGXVH GH LPSRUWDQ QD LRQDO VDXVWUDWHJLF DFRUGDUHDGHERQLILFD LLVDXUHPL]HHWF Cunoscndu-se cauzele care au condus lD PRGLILFDUHD SUH XULORU(3VHSRDWHVWDELOLHIHFWXODVXSUDQLYHOXOXLFKHOWXLHOLORUODOHLFLIU GHDIDFHULSHED]DUHOD LHL

1000pqcq

1000)P(pqcq

01

01

11

01

PrHVXSXQkQG vQ H[HPSOXO GDW F vQWUHSULQGHUHD IDEULF SURGXVHGLIHUHQ LDWH SH FDOLW L L F vQ SHULRDGD DQDOL]DW SHQWUX VWLPXODUHDvQ] ULORU D DFRUGDW ERQLILFD LL vQ VXP WRWDO GH PLO OHL LQIOXHQ DFDOLW LLDVXSUDFKHOWXLHOLORUODOHLVHGHWHUPLQ DVWIHO

lei09,181691,81481610001314375

3672==

+

'HFL HIHFWXO FDOLW LL vPEXQ W LUHD DFHVWHLD FRQGXFH OD FUHWHUHDSUH XOXLGHYkQ]DUHL LPSOLFLW ODVSRULUHDHILFLHQ HLFX OHL ODOHLFLIU 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 CCsau1000

pqcq

1000pqcq

111

01

11

11

lei80,2831,83951,8101000437536721000

43753546

==

5HGXFHUHD FRVWXULORU SH SURGXVH D GHWHUPLQDW VSRULUHD HILFLHQ HLFKHOWXLHOLORUODOHLFLIU GHDIDFHUL DLQSXQFWGHYHGHUHPHWRGRORJLFSHQWUXRHGLILFDUHFRPSOHW DVXSUDVLWXD LHLHVWHQHFHVDU DQDOL]DHOHPHQWHORUGHFKHOWXLHOLLDFDX]HORUFDUHDXGHWHUPLQDW PRGLILFDUHD DFHVWRUD (VWH FXQRVFXW IDSWXO F SUH XO WXWXURUcategoriilor de resurse este o compoQHQW D FKHOWXLHOLORU FDUH VH SRDWHPRGLILFD LQGHSHQGHQW GH DFWLYLWDWHD XQLW LORU sau vQ DFHVWH FRQGL LL VHLPSXQH R VHSDUDUH D DFHVWHL LQIOXHQ H GH FRQWULEX LD SURSULH OD UH]XOWDWXORE LQXW Metodologic, aceasta presupune:

determinarea soldului modiILF ULORU GH FKHOWXLHOL LQGHSHQGHQWHde activitatea ntreprinderii (FK6 SUHVXSXQHPvQH[HPSOXOdat +22 mil. lei;

VWDELOLUHDQLYHOXOXLODOHLFLIU GHDIDFHUL

lei03,510004375

221000pqch

11+=

+=

FRUHFWDUHD LQIOXHQ HL FRVWXULORU SH SURGXVH FX HIHFWXOmodifiF ULORUGHFKHOWXLHOLLQGHSHQGHQWHGHXQLWDWH -28,80 (+5,03) = -33,83 lei

,QIRUPD LLOH RE LQXWH vQ XUPD DFHVWHL PRGDOLW L GH DQDOL] SRW ILYDORULILFDWHvQVLWXD LLPXOWLSOHGLQFDUHQXVHH[FOXGVWXGLLOHGHIH]DELOLWDWHLGHHYDOXDUHvQFDUHSDUWHDGHGLDJQRVWLFDUHRLPSRUWDQ GHRVHELW 'DW ILLQGSR]L LDFKHOWXLHOLORUWRWDOHVDXDIHUHQWHFLIUHLGHDIDFHULvQ VLVWHPXO LQGLFDWRULORU GH DQDOL] HFRQRPLFR-ILQDQFLDU VH UHFRPDQG FXDQWLILFDUHD HIHFWHORUPRGLILF ULL QLYHOXOXL OD OHL$VWIHO principalii LQGLFDWRUL VLQWHWLFL vQFDUHVH UHJ VHWH LQIOXHQ DPRGLILF ULLFKHOWXLHOLORUODOHLFLIU GHDIDFHULVXQW a) Suma profitului nainte de impozitare ( )

1000pqCC 1101

1RW : Rezultatul poate fi detaliat pe factori potrivit metodologiei prezentate;

E(ILFLHQ DDFWLYHORUGHH[SORDWDUH$H

( )1

1101Ae

pqCC

F(ILFLHQ DXWLOL] ULLDFWLYHORUIL[HYDORDUHDPHGLHDQXDO Mf)

( )1

1101Mf

pqCC

G(ILFLHQ DXWLOL] ULLFDSLWDOXULORUFDUHpot fi proprii, totale, sociale K);

( )1

1101K

pqCC

G(ILFLHQ DXWLOL] ULLIRU HLGHPXQF SULQSURILWXOPHGLXSHVDODULDW

( )1

1101

N1000

pqCC

unde: 1N QXP UXOPHGLXGHVDODULD L

(ILFLHQ D FKHOWXLHOLORU DIHUHQWH FLIUHL GH DIDFHUL HVWH GH fapt o UHIOHFWDUH D UH]XOWDWHORU FDUH VH RE LQ vQ VWDGLXO SURGXF LHL Q FRQVHFLQ DQDOL]D SRDWH IL GHSODVDW vQ DFHVW VHJPHQW DO FLUFXOD LHL FDSLWDOXOXLfolosindu-VH LQGLFDWRUXO FKHOWXLHOL OD OHL SURGXF LHPDUI IDEULFDW Aceasta presupune ca, vQ FRQWDELOLWDWHD GH JHVWLXQH V VH VWDELOHDVF UH]XOWDWXOSRWHQ LDODOH[SORDW ULLIRORVLQGX-VHFRQWXULLUH]XOWDWHDQDOLWLFHDDGXS FXPVHSUHFL]HD] vQ$UWLFROXOGLQ5HJXODPHQWXOGHDSOLFDUHD/HJLL&RQWDELOLW LL Q DVHPHQHD FRQGL LL PHWRGRORJLD GH DQDOL] SUH]HQWDW YL]HD] SURGXF LD IDEULFDW vQFXUVXOH[HUFL LXOXLGDWHOHQHFHVDUHILLQGIXUQL]DWHGHFRQWDELOLWDWHD GH JHVWLXQH JUXSD GLQ 3ODQXO GH FRQWXUL L EXJHWXO GHYHQLWXULLFKHOWXLHOL

8WLOLWDWHD SUDFWLF D XQHL DVHPHQHD DQDOL]H VH UHJ VHWH vQ FDOFXOHDEVROXW QHFHVDUH GH SUHYL]LRQDUH D FXDQWXPXOXL GH UHVXUVH PDWHULDOH LILQDQFLDUHFDUHFRQGL LRQHD] vQGHSOLQLUHDRELHFWLYHORUVWDELOLWH $QDOL]D FRPSDUDWLY D FKHOWXLHOLORU OD OHL FLIU GH DIDFHUL FXcele aferente prodXF LHL IDEULFDWH SXQH vQ HYLGHQ PRGXO GH ILQDOL]DUH DP VXULORU WHKQLFR-RUJDQL]DWRULFH DGRSWDWH vQ VWDGLXO SURGXF LHL SHQWUXreducerea costurilor. Pentru exemplificare se folosesc datele:

Tabelul 3.5 cheltuieli la 1000 lei Nr.

crt.

FLIU GHDIDFHUL SURGXF LH

IDEULFDW

1 0RGLILFDUHID GHQLYHOXOSUHY ]XW -10,30 -7,40 2 ,QIOXHQ DVWUXFWXULL -4,81 +3,80 3 ,QIOXHQ DSUH XOXLPHGLXGHYkQ]DUH +23,31 +18,60 4 ,QIOXHQ DFRVWXOXL -28,80 -29,80

Q VLWXD LD GDW UH]XOWDWHOH RE LQXWH vQ SURGXF LH SH linia reducerii QLYHOXOXL FKHOWXLHOLORU OD OHL VH UHIOHFW vQ WRWDOLWDWH vQ FHOH DIHUHQWHFLIUHLGHDIDFHUL vQFDUHVH UHJ VHVFLHIHFWHOHPRGLILF ULORU LQWHUYHQLWH vQVWUXFWXUD SURGXF LHL VWRFDWH 'H DOWIHO DD VH SRDWH H[SOLFD L LQIOXHQ Dstructurii de OHLODFLIUDGHDIDFHULLOHLODSURGXF LDIDEULFDW SUHFXPLDFRVWXOXL 5HGXFHUHDSUH XOXLPHGLXGHYkQ]DUHGHSULQFLSLXVHFRQVWLWXLHvQWU-XQSXQFW VODEDO DFWLYLW LL ILUPHLGDF DFHDVWD QXD IRVW R RS LXQHSHQWUXpromovarea YkQ] ULORU(VWH HYLGHQW F vQ DFWLYLWDWHD SUDFWLF R DVHPHQHDVLWXD LHWUHEXLHV ILHSUH]HQWDW vQGHWDOLX

3.4 Analiza cheltuielilor variabile

Q FDGUXO FKHOWXLHOLORUGH H[SORDWDUHSDUWHDYDULDELO UHVSHFWLY FHDFDUHHVWHGHSHQGHQW GHYROXPXOGHDFWLYLWDWHHVWHSUHGRPLQDQW 7HRULDLSUDFWLFD HFRQRPLF IRORVHVF QR LXQLOH GH GHSHQGHQ SURSRU LRQDO LQHSURSRU LRQDO VDXVWULFWLUHVSHFWLYQRQVWULFWSURSRU LRQDOQSULPXOFD]VXPD FRVWXULORU YDULDELOH VH H[SULP SULQ UHOD LD D 4 XQde a = suma costurilor variabile pe produs, ar Q = cantitatea, iar in cel de al doilea prin IXQF LDI4

2S LXQHDSHQWUXIRORVLUHDvQDQDOL] LUHVSHFWLYSUDFWLFDHFRQRPLF DFKHOWXLHOLORUYDULDELOHSRDWHILMXVWLILFDW SULQ

elaborarea politicii vn] ULORU vQ IXQF LH L GH JUDGXO GHUHQWDELOLWDWH L vQ FRQVHFLQ GH FRQWULEX LD OD DFRSHULUHDcheltuielilor comune;

elaborarea bugetelor de costuri, necesare n buna gestionare a tuturor categoriilor de resurse;

VWDELOLUHDSROLWLFLLGHSURGXF LHGLQSXQFWGHYHGHUHFDQWLWDWLYLal termenului de realizare;

GHWHUPLQDUHD SUDJXOXL GH UHQWDELOLWDWH SUREOHP GHRVHELW GHLPSRUWDQW vQ GLPHQVLRQDUHD XQRU DFWLYLW L L FDWHJRULL GHcheltuieli.

(YLGHQWSRWILIRUPXODWHLXQHOHUH]HUYHvQDFHVWVHQVGHWHUPLQDWe de:

LPSUHFL]LDVWDELOLULLYDULDELOLW LLGLIHULWHORUFDWHJRULLGHFKHOWXLHOL SRVLELOLWDWHDGHSUHYL]LRQDUHSHWHUPHQVFXUWLOXQJ LPSDFWXO VLVWHPXOXL GH VDODUL]DUH DVXSUD FHORU GRX JUXSH GH

cheltuieli (variabile sau fixe). Pentru activitatea practic DFHVWHD VXQW HOHPHQWH FDUH VH LDX vQFRQVLGHUDUH vQDSUHFLHUHDXQRUUH]XOWDWHRE LQXWH vQWU-RSHULRDG H[SLUDW LIRUPXODUHDGHFL]LLORUGHFRUHF LHSHQWUXYLLWRU $QDOL]D FKHOWXLHOLORU YDULDELOH SRDWH DYHD vQ YHGHUH XUP WRDUHOHprobleme:

3.4.1 Anali]D GLQDPLFLL L VWUXFWXULL FKHOWXLHOLORU YDULDELOH ODOHLYHQLWXULLFDVXP WRWDO

,QGLYLGXDOL]DW FD SUREOHP VH vQVFULH vQ PRGDOLWDWHD JHQHUDO GHDERUGDUHDvQWUHJXOXLUHVSHFWLYDWRWDOXOXLFKHOWXLHOLORUQFRQVHFLQ VHYDXUP ULLGLQDPLFDFKHOWXLHOLORUYDULDELOHWRWDOHLODOHLYHQLWXULSHED]Ddatelor dLQWDEHOXOXUP WRUWDEHOXO).

Tabelul 3.6 (mil. lei)

3HULRDGDFXUHQW

Nr. crt.

Indicatori Perioada SUHFHGHQW

Pn-1 3UHY ]XW

P0 Realizat

P1

%

0

1PP

1 Cheltuieli de exploatare variabile 1987 2386 2546 106,70

2 Cheltuieli variabile aferente cifrei de afaceri 1896 2324 2516 108,26

3 Cheltuieli variabile aferente cifrei de afaceri recalculate 1904 2495

4 Venituri din exploatare 3680 4218 4630 109,77 5 Cifra de afaceri 3385 4007 4375 109,18 6 &LIUDGHDIDFHULUHFDOFXODW 3300 4500

7 Cheltuieli variabile la 1000 lei venituri din exploatare (lei) 540 565,67 550 97,22

8 Cheltuieli variabile la 1000 lei FLIU GHDIDFHUL

560 580 575 99,14

8UP ULQG HYROX LD FKHOWXLHOLORU YDULDELOH OD OHi venituri din H[SORDWDUHLUHVSHFWLYFLIU GHDIDFHULID GHUHDOL] ULOHDQXOXLSUHFHGHQWLSUHYHGHUL DFHDVWD HVWH GLIHULW $VWIHO V-D SUHY ]XW R FUHWHUH D QLYHOXOXLFKHOWXLHOLORUYDULDELOHODOHLVLWXD LHvQUHJLVWUDW QXPDLODFKHOWXLHOLGH exploatare. ntr-XQDVHPHQHDFD] vQDFWLYLWDWHDSUDFWLF GHDQDOL] WUHEXLHV VHPRWLYH]H L H[SOLFH WRDWH HOHPHQWHOH DYXWH vQYHGHUHSUHFXPLFHOHFDUHDXDS UXWSHSDUFXUV QFHHDFHSULYHWHVWUXFWXUDFKHOWXLHOLORUYDULDELOHFDVXP WRWDO LlD OHLDFHDVWDSRDWHYL]DQDWXUDFKHOWXLHOLORU LVDX ORFXOGHIRUPDUH(centre de responsabilitate), iar n cadrul acestora pe produse. O asemenea DQDOL] HVWH QHFHVDU vQ VSHFLDO SHQWUX ORFDOL]DUHDP VXULORU GH UHGXFHUHDcosturilor.

3.4.2 Anali]DIDFWRULDO DFKHOWXLHOLORUYDULDELOH

'LDJQRVWLFXOFKHOWXLHOLORUYDULDELOHSUH]LQW LPSRUWDQ GHRVHELW vQDFWLYLWDWHD GH FRQGXFHUH SHQWUX DVLJXUDUHD vQFDGU ULL vQWU-un nivel de UHQWDELOLWDWH FDUH V SHUPLW SUDFWLFDUHD XQRU SUH XULPHQLWH V FRQGXF la PHQ LQHUHDLHYHQWXDOFUHWHUHDFRWHLGHSLD $QDOL]DIDFWRULDO SRDWHDYHDFDRELHFWQLYHOXOFKHOWXLHOLORUYDULDELOH

la 1000 lei venituri din exploatare (Cve), nivelul cheltuielilor variabile la OHLFLIU GHDIDFHUL&YSUHFXPLvQV LVXPDDEVROXW DFKHOWXLHOLORUYDULDELOHDIHUHQWHSURGXF LHLIDEULFDWHqcv). n primul caz, poate fi folosit modelul ,

100cvigiCve

=

unde: gi = structura veniturilor; cvi = cheltuielile la 1000 lei venituri pe categorii de venituri. Metodologia GH VWDELOLUH D FHORU GRX LQIOXHQ H HVWH VLPLODU FHOHLprezentate n analiza cheltuielilor totale la 1000 lei venituri. n cel de-al doilea caz se are n vedere modelul: ,1000

qpqcvCv

=

n care: cv = costul variabil pe unitate de produs vndut. 0RGLILFDUHDFKHOWXLHOLORUYDULDELOHODOHLFLIU GHDIDFHULID GHQLYHOXOSUHY ]XWvQH[HPSOXOGDWGHOHLVHH[SOLF SULQLQIOXHQ D

-VWUXFWXULLSURGXF LHLYkQGXWH

lei6,2558040,554580100045002495Cv1000

pqcvq

001

01===

sau 00 CvvC -SUH XOXLPHGLXGHYkQ]DUHH[FOXVLY79$

lei89,1540,55429,570

1000450024951000

437524951000

pqcvq

1000pq

cvq

01

01

11

01

+==

==

sau Cv0 - Cv0 - costul variabil pe unitate de produs

0111

011 CvCvsaulei71,429,5705751000pq

cvqCv +==

1RW : $VSHFWHOH PHWRGRORJLFH UHIHULWRDUH OD LQIOXHQ D IDFWRULORULQGHSHQGHQ LGHDFWLYLWDWHDXQLW LLVXQWYDODELOHLDLFLFXPHQ LXQHDF VHUHIHU QXPDLODFKHOWXLHOLOHYDULDELOH 5H]XOW vQ H[HPSOXO GDW F UHGXFHUHD FKHOWXLHOLORU YDULDELOH OD OHLFLIU GHDIDFHULV-a realizat exclusiv pe seama structurii proGXF LHL

YkQGXWH FHHD FH HYLGHQW DUH R VHPQLILFD LH SR]LWLY GDW ILLQG RQRUDUHDFHUHULLSHQWUXSURGXVHOHUHVSHFWLYH'DU vQSHUVSHFWLY QXWUHEXLHQHJOLMDWHSURGXVHOH FX FKHOWXLHOL YDULDELOH PDL PDUL SHQWUX D QX SLHUGH SLD D FLGLPSRWULY WUHEXLH DF LRQDW SHQWUX UHGXFHUHD FRVWXULORU SH VHDPDcheltuielilor variabile pe unitate de produs.

QDFHVWPRPHQWVHSRDWHIDFHDQDOL]DFRPSDUDWLY DFKHOWXLHOLORUODOHLFLIU GHDIDFHULFXFHOHYDULDELOH$VWIHO

Tabelul 3.7

Nr. crt.

Indicatori Cheltuieli la 1000 lei FLIU GHDIDFHUL

Cheltuieli variabile ODOHLFLIU GH

afaceri 1 0RGLILFDUHDID GHQLYHOXO

SUHY ]XWOHLGLQFDUHGDWRULW LQIOXHQ HL

-10,17 -5,0 lei

2 6WUXFWXULLSURGXF LHLYkQGXWH -4,76 -25,6 3 3UH XOXLPHGLXGHYkQ]DUH +23,31 +15,89 4 Costului pe produs, respectiv

costului variabil -28,72 +4,71

6WXGLXO DFHVWRU GDWH FRPSOHWHD] WDEORXO UHIHULWRU OD VLWXD LDcheltuielilor aferente cifrei de afaceri, putndu-se formula att punctele forte UH]XOWDWHSR]LWLYHFkWLFHOHVODbe (rezultate negative). &DSXQFWHIRUWHSRWILPHQ LRQDWH

VSRULUHDHILFLHQ HLFKHOWXLHOLORU OD OHLFLIU GHDIDFHULDWkWSHVHDPDFHORUYDULDELOHFkWLIL[H

FUHWHUHD YkQ] ULORU OD SURGXVHOH FX UHQWDELOLWDWH SRWHQ LDO VXSHULRDU

UHGXFHUHD ID GH QLYHOXO SUHY ]XW D FRVWXULORU SH SURGXVH GDUnumai pe seama cheltuielilor fixe.

&DSXQFWHVODEHVHUHPDUF VF GHUHDSUH XOXLGHYkQ]DUHWUHEXLHLGHQWLILFDWHFDX]HOH FUHWHUHDFKHOWXLHOLORUYDULDELOHSHXQLWDWHGHSURGXV

Q IXQF LHGHDFHVWH HOHPHQWH VH VWDELOHWHFDGUXOGHDF LXQHSHQWUXSHULRDGDXUP WRDUH

Q FHHD FH SULYHWH VXPD DEVROXW D FKHOWXLHOLORU YDULDELOH DIHUHQWHFLIUHL GH DIDFHUL VDX SURGXF LHL IDEULFDWH SRDWH IL DQDOL]DW SH ED]D PDLPXOWRUPRGHOH IXQF LHGHFRQGL LLOHFRQFUHWHdin unitate. Astfel, la nivelul

vQWUHJLLSURGXF LLIDEULFDWHVHSRDWHIRORVLPRGHOXO

10001CvOfChv = ,

n care: Chv = VXPDDEVROXW DFKHOWXLHOLORUYDULDELOHDIHUHQWHSURGXF LHLIDEULFDWH Qf = SURGXF LD PDUI IDEULFDW H[SULPDW vQ SUH GH YkQ]are (unitatea

WUHEXLH V IRORVHDVF FRQWXUL GH YHQLWXUL vQ JUXSD VDX V VHVWDELOHDVF H[WUDFRQWDELO

Cv = QLYHOXO FKHOWXLHOLORU YDULDELOH OD OHL SURGXF LH IDEULFDW (s-DPHQ LQXWVLPEROL]DUHDSHQWUXVLPSOLILFDUH

0RGLILFDUHD ID GH R ED] GH UDSRUWDUH QRWDW FX chv), se H[SOLF SULQLQIOXHQ D 1) volumului de activitate ( )

1000CvQfQf 001

QLYHOXOXLFKHOWXLHOLORUYDULDELOHODOHLSURGXF LHIDEULFDW

( )011 CvCv1000Qf

GLQFDUHGDWRULW PRGLILF ULL a) structurii SURGXF LHLPDUI IDEULFDW ( )001 CvvC1000

Qf

ESUH XOXLPHGLXGHYkQ]DUHIRORVLWvQHYDOXDUHDSURGXF LHL

( )001 vCvC1000Qf

c) cheltuielii variabile pe unitate de produs ( )011 vCCv1000

Qf

8QDVHPHQHDPRGHOGHDQDOL] HVWHXWLOvQDFWLYLWDWHDSUDFWLF SHQWUXHVWLPDUHD FKHOWXLHOLORU YDULDELOH RSHUD LXQH QHFHVDU vQ GHWHUPLQDUHDUH]XOWDWXOXLEUXWDOH[SORDW ULL QFD]XOSURGXF LHLRPRJHQHSHQWUXWRDW SURGXF LDIDEULFDW VDXODnivelul unui centru de cheltuieli, se poate utiliza modelul Chv = qcv, unde: q = SURGXF LDIDEULFDW cv = costul variabil pe produs

3RWULYLWDFHVWXLPRGHOIDFWRULLGLUHF LGHLQIOXHQ VXQWFDQWLWDWHDGHSURGXF LHVWUXFWXUDIL]LF LFRVWXOYDULDELOSHXQLWDWHGHSURGXV

Pentru exemplificare sunt necesarHXUP WRDUHOHGDWHWDEHOXO): Tabelul 3.8

Cantitatea Cheltuieli variabile Pe produs Total mii lei Nr.

crt. Produs um

Realizat

Realizat Realizat 1 A t0 1000 1200 4000 4500 4000 5400 2 B t0 2000 1900 10000 9000 20000 17100 3 C t0 2500 2500 5000 5000 12500 12500

TOTAL t0 5500 5600 6636 6250 36500 35000

chv = 35000 36500 = -1500 mii lei, GLQFDUHGDWRULW LQIOXHQ HL

DSURGXF LHL

( ) +== leimii6623650066365600cvqcvQ 0001 sau 0

0

1 1 ChvQQ

EVWUXFWXULLSURGXF iei

( ) ( )leimii

cvQcvq8623716236300

6636560052500101900412000111=

=++= c) costurilor variabile pe produse

( ) ( ) leimii13003630035000cvqcvq 0111 == $FHDVW PHWRGRORJLH GH DQDOL] HVWH XWLO DWkW vQ H[SOLFDUHD XQHLVLWXD LL GDWH FkW vQ VSHFLDO vQ RSHUD LXQHD GH EXJHWDUH D FKHOWXLHOLORU SHcentre de responsabilitate.

(VWLPDUHDHYROX LHLSUREDELOHDFKHOWXLHOLORUYDULDELOH

Q SURFHVXO GH FRQGXFHUH D vQWUHSULQGHULL HVWLPDUHD HYROX LHLFKHOWXLHOLORU YDULDELOH WRWDOH VDXL OD OHL FLIU GH DIDFHUL SRDWHinterveni:

vQ FD]XO SUHYL]LRQ ULL DFWLYLW LL SULQ EXJHWXO GH YHQLWXUL LFKHOWXLHOLOHGHODRSHULRDG ODDOWD

n studiile de fezabilitate (ntocmite n scopuri diferite) pentru GHWHUPLQDUHDUH]XOWDWXOXLH[SORDW ULL

vQRSHUD LXQLGHHYDOXDUHHFRQRPLF DvQWUHSULQGHULL vQVLWXD LLOHGHDQJDMDUHSHSarcursul anului a unor comenzi ale

EHQHILFLDULORUGDF H[LVW UH]HUY GHFDSDFLWDWHGHSURGXF LH SHQWUXDGRSWDUHDXQRUP VXULGHvQFDGUDUHvQFXUVXOH[HUFL LXOXL

vQ QLYHOXULOH SUHVWDELOLWH VDX LPSXVH GH DQXPLWH FRQGL LLobiective.

6LWXD LLOH SUH]HQWDWH nu sunt limitative, ci explicative, activitatea vQWUHSULQGHULLILLQGVXILFLHQWGHGLYHUVLILFDW &DPRGDOLW LSUDFWLFHGHVROX LRQDUHSRWILPHQ LRQDWH

HVWLPDUHD SH ED]D QLYHOXOXL OD VDX OHL FLIU GHafaceri, avnd n vedere caracterul lor conVWDQWGDF VHHOLPLQ factorul dimensional (este procedeul cel mai frecvent utilizat). Deci

( )1000

1CvACvCh 0=

1RW : Chv = cheltuielile variabile previzionate; CA = cifra de DIDFHULSUHYL]LRQDW VDX4I SURGXF LDPDUI &Y0 = nivelul cheltuielilor YDULDELOHODOHLFLIU GHDIDFHULUHDOL]DW Exemplu6HHVWLPHD] F vQSHULRDGDXUP WRDUHFLIUDGHDIDFHULYDFUHWHFX CA = 4375 mil. 1,10 = 4812,5 mil. lei Chv = 4812,5 0,55 = 2646,9 mil. lei QFD]GHLQIOD LHOXDW vQFDOFXOXOFLIUHLGHDIDFHULVHDGPLWHF LFKHOWXLHOLOHVHPRGLILF vQDFHHDLSURSRU LH'DF LQIOD LDDIHFWHD] QLYHOXOGH UHQWDELOLWDWH DWXQFL VXPD FKHOWXLHOLORU YDULDELOH WUHEXLH FRUHFWDW FXUDSRUWXO GLQWUH LQGLFHOH PHGLX DO SUH XULORU GH FXPS UDUH ,c L FHO DO

SUH XULORUGHYkQ]DUH,p'DF ,02,1II

p

c= suma cheltuielilor variabile va fi

circa: 2700 mil. lei (2646 1,02). 6XPDDVWIHOVWDELOLW HVWHDIHUHQW FLIUHLGHDIDFHULFDUHHVWHGLIHULW

GH SURGXF LD IDEULFDW Q FRQVHFLQ VH face corectarea cu raportul .CAQf

'DF DFHVW UDSRUW HVWH GH DWXQFL FKHOWXLHOLOH YDULDELOH DIHUHQWHSURGXF LHLIDEULFDWHYRUILGHPLOOHL 0,95). 'DU VSRULUHD SURGXF LHL QX VH YD UHDOL]D SURSRU LRQDO OD WRDWHproduselH FHHD FH FRQGXFH OD PRGLILF UL vQ VWUXFWXUD DFHVWHLD IDSW

FH LQIOXHQ HD] FKHOWXLHOLOH YDULDELOH Q FRQVHFLQ HVWH QHFHVDU UHFDOFXODUHD FKHOWXLHOLORU YDULDELOH OD OHL SURGXF LH vQ IXQF LH GHVWUXFWXUDSUHYL]LRQDW JLFKHOWXLHOLOHOD lei pe produse realizate n SHULRDGDSUHFHGHQW &L0).

( )100

1CigvC 0 = Tabelul 3.9

6WUXFWXUDSURGXF LHL Produs g0 g

Cheltuieli la 1000 lei

pe produse (Ci0) Cheltuieli

recalculate Nr. crt.

0 1 2 3 ( )1001324 =

1 A 20 22 510 112,2 2 B 25 1 500 75,0 3 C 15 15 600 90,0 4 D 40 48 545 261,6

TOTAL 100 100 550 538,8

QWUXFkWVWUXFWXUDSURGXF LHLV-a modificat n favoarea produselor cu FKHOWXLHOLOHPDLPLFLLVXPDWRWDO YDILVXEQLYHOXOFHOHLVWDELOLWHDQWHULRUceea ce vaPLFRUDHIRUWXOXQLW LL (VWLPDUHDFXDMXWRUXOIXQF LHL OLQHDUH\ DE[ vQFDUH\ VXPDDEVROXW D FKHOWXLHOLORU YDULDELOH LDU [ FLIUD GH DIDFHUL 3HQWUXexemplificare sunt necesare datele dinWDEHOXOXUP WRUWDEHOXO):

Tabelul 3.10

Perioada Cheltuieli

variabile (y) mil. lei

Cifra de afaceri (x)

mil. lei

xy

x2

y = a + bx

1 931,7 1552,8 1446744 2411188 889,8 2 1200,2 2034,2 2441040 4137970 1165,6 3 1484,2 2603,8 3864560 6779774 1492,0 4 1895,6 3385 6416606 11458225 1940,0 5 2515,6 4375 11005750 19140625 2506,9 n 8027,3 13950,8 25174700 43927782 X

+= xbnax += 2xbaxxy

de unde:

( )00638,0

29,219444101,1401

29,219444205,351207306,352608

62,194782,4392751747,259508,13782,43927027,8

xxn

xyxxya

22

2

==

=

=

=

=

( ) 53,029,2194440273,89508,137,251745

xxn

yxxynb22

=

=

=

'DF FLIUDGHDIDFHULVHHVWLPHD] ODPLOOHLVXPDFKHOWXLHOLORUvariabile va fi: 0,00638 + 5000 PLO OHLFHHDFHUHSUH]LQW OHLODOHLFLIU GHDIDFHUL (VWLPDUHD SH ED] GH FDOFXOH DQDOLWLFH SH FDWHJRULL GH FKHOWXLHOL LUHVSHFWLY SURGXVH vQ IXQF LH GH HOHPHQWHOH QHFHVDUH L FDUH WUHEXLH V ILHcunoscute.

$QDOL]DUHIOHFW ULLQLYHOXOXLFKHOWXLHOLORUYDULDELOHODOHL

asupra principalilor indicatori economico-financiari

QSUDFWLFDHFRQRPLF HVWHQHFHVDUV ILHDQDOL]DWHHIHFWHOHSURGXVHVDX HVWLPDWH DOH PRGLILF ULL QLYHOXOXL FKHOWXLHOLORU YDULDELOH OD OHLYHQLWXULUHVSHFWLYFLIU GHDIDFHUL 3ULQFLSDOLLLQGLFDWRULvQFDUHVHUHIOHFW HIHFWHOHPHQ LRQDWHVXQW 5H]XOWDWXOH[SORDW ULL

( )1000VeCvCv 101

5DWDUH]XOWDWXOXLH[SORDW ULL ( )01 CvCv (ILFLHQ DDFWLYHORUGHH[SORDWDUH$H

( )1

101Ae

VeCvCv

(ILFLHQ DPLMORDFHORUIL[H

( )1

101Mf

VeCvCv

(ILFLHQ DFDSLWDOXOXL

( )1

101 1000

K

VeCvCv

Profitul brut pe salariat

( )1

101

N1000VeCvCv

3.5 Analiza cheltuielilor fixe

&KHOWXLHOLOHIL[HVDXFRQVWDQWHSULQGHILQL LHFRQVWLWXLHRSUHPLV LR FRQVHFLQ D GHVI XU ULL XQHL DQXPLWH DFWLYLW L $FHDVWD vQVHDPQ F unele cheltuieli nu sunt nGHSHQGHQ SURSRU LRQDO VDXQHSURSRU LRQDO FXSURGXF LD VDX YkQ] ULOH FL vQ DQXPLWH OLPLWH HOH U PkQ IL[H VDXindependente. Un exemplu l constituie cheltuielile cu amortizarea care, la XQQLYHOGDWGHGRWDUHWHKQLF QXVHPRGLILF GHLSULQPDLEuna folosire a XWLODMHORU VH SRDWH RE LQH R SURGXF LH VXSOLPHQWDU 'DU RGDW FX VSRULUHDFDSDFLW LL GH SURGXF LH L UHVSHFWLY FRPHUFLDOL]DUH VH PRGLILF DWkWSURGXF LDFkWLFKHOWXLHOLOHFXDPRUWL]DUHD6XQWDOWHFDWHJRULLGHFKHOWXLHOLindispensabile DFWLYLW LL vQWUHSULQGHULL DO F URU YROXP HVWH LQGHSHQGHQW GHFHO DO SURGXF LHL FXP DU IL FKHOWXLHOLOH JHQHUDOH GH DGPLQLVWUD LH Lconducere. 5DSRUWXO GLQWUH FKHOWXLHOLOH IL[H L YDULDELOH FDUDFWHUL]HD] vQactivitatea SUDFWLF DD-QXPLWDVWUXFWXU GHH[SORDWDUHLVHUYHWHODDQDOL]DULVFXOXLRSHUD LRQDOFDRFRPSRQHQW DULVFXOXLJOREDODOILUPHL)LUPHOHFDUHDX FKHOWXLHOLPDUL GH UHJLH SHQWUX D IXQF LRQD WUHEXLH V SUDFWLFH SUH XULPDUL GDF SLD D L FRQFXUHQ D SHUPLW DFHVW OXFUX VDXL V UHDOL]Hze un YROXPPDLPDUHGHSURGXF LH Analiza cheltuielilor fixe nu constituie un scop n sine ci este VXERUGRQDW XQXL RELHFWLY UHVSHFWLY VSRULUHD HILFLHQ HL DFHVWRUD QFRQVHFLQ SUREOHPDWLFDWUHEXLHV ILHDVWIHOVWUXFWXUDW vQFkWV RIHUHVROX LLmeWRGRORJLFH QHFHVDUH DVLJXU ULL ED]HL GH LQIRUPDUH FRPSOHWH DVXSUDVLWXD LHL H[LVWHQWH vQ DFHVW GRPHQLX SHQWUX D SXWHD DGRSWD GHFL]LLOHFRUHVSXQ] WRDUH

Principalele probleme ale analizei cheltuielilor fixe sunt:

$QDOL]DGLQDPLFLLLVWUXFWXULLFheltuielilor fixe

6WXGLHUHDGLQDPLFLLFKHOWXLHOLORUIL[HHVWHQHFHVDU SHQWUXDFXQRDWHHYROX LDvQUDSRUWFXFLIUDGHDIDFHULVDXFXSURGXF LDIDEULFDW QIXQF LHGHVLWXD LDGDW ID GHHYROX LDQRUPDO LUHDOLW LOHGLQDOWHXQLW LVLPLODUHvQP VXUD vQ FDUH DFHVWHD SRW IL FXQRVFXWH VH DGRSW P VXULOHFRUHVSXQ] WRDUH 3HQWUX R VRFLHWDWH FRPHUFLDO V-DX H[WUDV XUP toarele date: (din tabelul 3.11)

Tabelul 3.11 Cheltuieli fixe

(mil. lei) &LIU GHDIDFHUL

(mil. lei)

Perioada

mil. lei % mil. lei %

Ponderea cheltuielilor fixe

n totalul cheltuielilor (%)

1 590 100,0 1553 100 32,0 2 796 134,9 2034 131,0 35,3% 3 876 110,0 2604 128,0 34,5 4 878 100,2 3385 130,0 25,4 5 1140 129,8 4375 129,0 32,2

'LQ DQDOL]D GDWHORU UH]XOW FRPSRUWDPHQWXO FDracteristic al FKHOWXLHOLORU IL[H vQ UDSRUW GH FLIUD GH DIDFHUL UHVSHFWLY H[LVWHQ D XQRUVDOWXULDWXQFLFkQGLQWHUYLQPRGLILF ULLPSRUWDQWHvQYROXPXOGHDFWLYLWDWHDfirmei. QFHHDFHSULYHWHVWUXFWXUDGHH[SORDWDUHVDXRSHUD LRQDO DFHDVWDnu preziQW YDULD LL vQVHPQDWH HD vQVFULLQGX-se n limitele caracteristice GRPHQLXOXL vQ FDUH DFWLYHD] ILUPD HVWH R DILUPD LH SH ED]D XQRU GDWHSUHVXSXVH D IL FXQRVFXWH 'DF VLWXD LD GLQ XQLWDWH SUH]LQW DEDWHULVHPQLILFDWLYH ID D GH DOWH vQWUHSULQGHUL VLPLODUH HVWH QHFHVDU V VHVWDELOHDVF HIHFWHOHSHFDUHOHJHQHUHD] LP VXULOHFDUHVHLPSXQ (WDSD XUP WRDUH vQ DQDOL]D FKHOWXLHOLORU IL[H R FRQVWLWXLH DQDOL]Dstructurii acestora, pe categorii de cheltuieli (natura lor), respectiv DPRUWL] UL VDODULL PDWeriale etc., centre de responsabilitate (localizare n VSD LX VDX IXQF LXQL SURGXF LH FRPHUFLDOL]DUH DGPLQLVWUD LH )LHFDUHFULWHULX GH JUXSDUH DUH R DQXPLW VHPQLILFD LH vQ VSRULUHD HILFLHQ HLcheltuielilor fixe.

$QDOL]D IDFWRULDO D FKHOWXLHOLORU IL[H OD OHL FLIU

de afaceri

'DWILLQGFDUDFWHUXOUHODWLYFRQVWDQWDODFHVWRUFKHOWXLHOLHILFLHQ DORUSRDWHILDQDOL]DW SULQQLYHOXOORUODOHLFLIU GHDIDFHUL&IIRORVLQGmodelul:

1000CAFCf =

n care: F = suma absolXW DFKHOWXLHOLORUIL[H CA = FLIUDGHDIDFHULVLPEROL]DW LSULQqp). ([HPSOLILFDUHDPHWRGRORJLHLGHDQDOL] QHFHVLW XUP WRDUHOHGDWH

Tabelul 3.12 (mil. lei)

Nr. crt. Indicatori 3UHY ]XW Realizat

1 Suma cheltuielilor fixe 965 1140 2 Cifra de afaceri 4007 4375 3 &LIUDGHDIDFHULUHFDOFXODW X 4500 4 &KHOWXLHOLIL[HODOHLFLIU GHDIDFHUL lei - 240,83 260,5

)D GH SUHYHGHUL VH vQUHJLVWUHD] R PDMRUDUH D FKHOWXLHOLORU IL[HQLYHOXO ORU OD OHL FLIU GH DIDFHUL FUHVFkQG FX Oei (260,57 240,83). 8Q DVHPHQHD UH]XOWDW DIHFWHD] UHQWDELOLWDWHD JHQHUDO D ILUPHL FXWRDWHFRQVHFLQ HOHFDUHGHFXUJ $QDOL]DIDFWRULDO SHUPLWHHYLGHQ LHUHDSULQFLSDOHORUGLUHF LL vQFDUHWUHEXLH V VH DF LRQH]H Q FRQVHFLQ PRGLILFDUHD QLYHOXOXL cheltuielilor IL[HODOHLFLIU GHDIDFHUL&IVHH[SOLF SULQLQIOXHQ D

1. Cifrei de afaceri

== 100040079651000

43759651000

CAF1000

CAF

0

0

1

0

= 220,57240,83 = 20,26 lei

GLQFDUHGDWRULW DSURGXF LHLYkQGXWH

== 100040079651000

45009651000

CAF1000

pqF

0

0

01

0

= 214,44 240,83 = 26,39 lei ESUH XULORUPHGLLGHYkQ]DUH

== 100015009651000

43759651000

pqF1000

CAF

01

0

1

0

= 220,57 214,44 = + 6,13 lei 2. Sumei cheltuielilor fixe

lei4057,22057,2601000CAF

1000CAF

1

0

1

1 +==

QFD]XOILUPHLDQDOL]DWHFUHWHUHDFKHOWXLHOLORUIL[HODOHLID GH SUHYHGHUL HVWH GHWHUPLQDW GH FXDQWXPXO ORU FDUH D DYXW R HYROX LHVXSHULRDU FLIUHLGHDIDFHULODFDUHDXFRQWULEXLWLSUH XULOHGHYkQ]DUH Din punct de vedere metodologic, trebuie identificate cauzele care au determinat amplificarea sumei cheltuielilor fixe, de principiu, cu titlu de H[HPSOXDFHVWHDYL]HD]

VFKLPE ULvQVLVWHPXOGHDPRUWL]DUHDDFWLYHORUIL[H VFKLPE ULvQVLVWHPXOGHVDODUL]DUHSUHFXPLFUHWHUHDVDODULLORU

GHWHUPLQDW GHUDWDLQIOD LHL FUHWHUHD FRQVXPXOXL L SUH XULORU HOHPHQWHORU PDWHULDOH FDUH

JHQHUHD] FKeltuielile fixe, n raport de factorii specifici care le GHWHUPLQ

3.5.3 Estimarea nivelului probabil al cheltuielilor fixe

$FWLYLWDWHD FXUHQW GH JHVWLXQH D SDWULPRQLXOXL XQHL vQWUHSULQGHULLPSOLF LSUREOHPDSUHYL]LRQ ULLWHQGLQ HLGHHYROX LHDFheltuielilor fixe ca VXP WRWDO L QLYHO OD VDX OHL YHQLWXUL GLQ H[SORDWDUH FLIU GHDIDFHULHWF0RPHQWHOHvQFDUHWUHEXLHV VHUHDOL]H]HDVHPHQHDRSHUD LXQLVXQWQXPHURDVHLLPSRUWDQWHvQDFHODLWLPSSHQWUXYLDELOLWDWHDXQLW LL Pe terPHQ VFXUW GH H[HPSOX GH OD XQ DQ OD DOWXO VXPD WRWDO DFKHOWXLHOLORU IL[H ) VH FRQVLGHU FRQVWDQW GDF QX LQWHUYLQ PRGLILF ULLPSRUWDQWHvQDFWLYLWDWHDXQLW LL Deci, nivelul probabil (F)=F0, respectiv cel realizat n perioada FXUHQW 6XPD VH FRUHFWHD] FX HIHFWHOH JHQHUDWH GH GHFL]LLOH DGRSWDWHSHQWUXSHULRDGDXUP WRDUH

De exemplu: VH SUHFRQL]HD] DFKL]L LRQDUHD XQRU QRL PDLQL L XWLODMH ILH

SHQWUXvQORFXLUHDFHORUYHFKLILHSHQWUXH[WLQGHUHDFDSDFLW LLGHSURGXF LHHIHFWXOVHUHIOHFW vQFKHOWXLHOLOHFXDPRUWL]DUHDLDOWHFKHOWXLHOLGHvQWUH LQHUHLUHSDUD LH

VHPDMRUHD] VDODULLOHSHUVRQDOXOXLDGPLQLVWUDWLYLGHFRQGXFHUHVDXDXQHLS U LSHQWUXVWLPXODUHDXQRUGRPHQLL

VH UHRUJDQL]HD] DQXPLWH DFWLYLW L GH SUH]HQWDUH UHFODP QWUH LQHUHLUHSDUD LLHWF

QILHFDUHFD]VHLPSXQHHVWLPDUHDHIRUWXULORULDHIHFWHORUSHQWUXDYHGHDFRQVHFLQ HOHGHFL]LLORUDGRSWDWH &D QLYHO OD OHL FLIU GH DIDFHUL VDX YHQLWXUL GLQ H[SORDWDUHrespectiv totale), cheltuielile pot fi estimDWHSHED]DUHOD LHL ,

I1CffCq

0 =

unde: Iq = indicele cifrei de afaceri sau a veniturilor Exemplu:

3HULRDGDFXUHQW 1. Cifra de afaceri mil. lei 4375 2. Cheltuieli fixe mil. lei 1140 3. Cheltuieli fixe la 1000 lei 260,57

'DF SHQWUX SHULRDGD XUP WRDUH VH SUHYHGH R FLIU GH DIDFHUL GHPLOOHLGHFLRFUHWHUHGH

lei01,2281428,1157,260fC ==

2 DOW PRGDOLWDWH GH HVWLPDUH D QLYHOXOXL SUREDELO GH FKHOWXLHOL ODOHLFLIU GHDIDFHULHVWHDFHHDFDUHVHED]HD] SHFRUHOD LDGLQWUHFLIUDGH DIDFHUL FD YDULDELO LQGHSHQGHQW [ L QLYHOXO FKHOWXLHOLORU IL[H OD OHLFDYDULDELO GHSHQGHQW \IRORVLQG

IXQF LDx

bay += .

Pentru exemplificare se folosesc datele din WDEHOXO XUP WRU (tabelul 3.13):

Tabelul 3.13

Perioada y lei

cifra de afaceri

miliarde lei

x2

x

1 2x

1

x

y

x

bay +=

1 379,89 1,6 2,56 0,625 0,391 237,43 407,74 2 382,11 2,0 4,00 0,500 0,250 191,06 364,77 3 380,57 2,6 6,76 0,385 0,148 146,37 286,63 4 259,27 3,4 11,56 0,294 0,086 76,26 293,98 5 260,59 4,4 19,36 0,227 0,052 59,23 270,99 n 1662,43 14,0 44,24 2,031 0,927 710,35 x

(FXD LDSUHVXSXQHVLVWHPXO

+=x

1bnay

+= 2x

1bx

1a

x

y

de unde:

85,19251,0352,98

125,4635,4721,1442073,1541

032,2927,0535,710031,2927,043,1662

x

1x

1n

x

yx

1x

1ya

22

2

2

==

=

=

=

=

83,34351,0

395,337675,3551

51,0031,243,166235,7105

x

1x

1n

x

1yx

yn

b2

2

=

=

=

=

=

'DF [ PLOOHL lei62,2615

83,34385,192y =+=

(VWLPDUHDVLQWHWLF DFKHOWXLHOLORUODOHLFLIU GHDIDFeri

6WDELOLUHD QLYHOXOXL SUREDELO DO FKHOWXLHOLORU OD OHL FLIU GHDIDFHUL VDXSURGXF LH IDEULFDW FRQVWLWXLH XQ LPSHUDWLY DO FRQGXFHULL SULQFRVWXULvQYHGHUHDSUHYHQLULLULVFXOXLGHH[SORDWDUHVDXRSHUD LRQDO Pe baza calculelor analitice pentUXFHOHGRX FDWHJRULLGHFKHOWXLHOL YDULDELOH L IL[H VH GHWHUPLQ QLYHOXO FKHOWXLHOLORU OD OHL FLIU GHafaceri, respectiv, C = Cv + Cf.

Raportul 100CC

0

1-UHSUH]LQW LQGLFHOHQLYHOXOXLFKHOWXLHOLORUOD

OHLFLIU GHDIDFeri (IcFDUHSRDWHILGHWHUPLQDWSHED]DUHOD LHL

11I

1gIAC

c +

=

g = ponderea cheltuielilor fixe n totalul cheltuielilor Exemplu:

1. &LIUDGHDIDFHULGLQSHULRDGDFXUHQW 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

cheltuielilor 31,19%

7. &LIUDGHDIDFHULSURSXV 5000 mil. lei 8. Indicele cifrei de afaceri 114,29%

%10,96sau961,011429,1

13119,0Ic =

=

C = 835,59 0,961 = 803,0 lei 'HFLvQFRQGL LLOHVSRULULLFLIUHLGHDIDFHULGDUDPHQ LQHULLVWUXFWXULLGHH[SORDWDUH VH HVWLPHD] DFHVW QLYHO DO FKHOWXLHOLORU OD OHL FLIU GHDIDFHULFDUHGDF VHUHDOL]HD] YDFRQGXFHODRE LQHUHDHIHFWHlor pe care le JHQHUHD] QDFWLYLWDWHDSUDFWLF vQFD]XOVWDELOLULLXQXLRELHFWLYUHVSHFWLYXQQLYHOGDWDOFKHOWXLHOLORUODOHLFLIU GHDIDFHULGDF H[LVW FDSDFLWDWHD

1 ! ! " #$% & #

C0 ! ' " #$)( #

GHSURGXF LH LFHUHUHVROYDELO SRDWH ILSXV SUREOHPDHVWLP ULL FLIUHLde DIDFHULFDUHV DVLJXUHUHDOL]DUHDDFHVWXLD3HQWUXDFHDVWDVHIRORVHWHUHOD LD

CAC

CA I,1gIgI

+= se deduce din formula ;11

I1gICA

C +

=

( ) .1gI

gI;1gII

g;11gI

Ig

CCAC

CAC

CA +==+=+

3HED]DGDWHORUGLQH[HPSOXOSUHFHGHQWVHSUHVXSXQHF VHVWDELOHWHca obiectiv, C = 800 lei, deci

95741,059,835

800IC ==

%81,115sau1581,113119,095741,0

3119,0ICA =+

=

FHHDFHvQVHDPQ F FLIUDGHDIDFHULSHQWUXSHULRDGDXUP WRDUHWUHEXLHV ILHde 5067 mil. lei (4375 1,1581). 2 DOW VLWXD LH SRDWH IL DFHHD vQ FDUH HVWH QHFHVDU DGRSWDUHD XQRr P VXULGHFRUHF LH ntr-RDQXPLW SHULRDG SHQWUX vQFDGUDUHD vQWU-un nivel dat al cheltuielilor la 1000 lei, la finele perioadei. Exemplu: 3HQWUXDQXOvQFXUVSULQEXJHWXOGHYHQLWXULLFKHOWXLHOLV-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 GHOHLODOHLFLIU GHDIDFHUL&DUHWUHEXLHV ILHQLYHOXOPD[LPDOcheltuielilor la 1000 lei n semestrul II ? n acest scop, se are n vedere UHOD LD

,

100CtgtC =

n care: JW VWUXFWXUDYkQ] ULORUSHVXEGLYL]LXQLGHWLPSvQFD]XO dat peFHOHGRX

semestre), iar &W QLYHOXOFKHOWXLHOLORUODOHLDIHUHQWHSHULRDGHLFHHDFHvQVHDPQ F C = gI CI + gII CII, de unde:

( ) lei67,7866,0

4,0820800g

CgCCII

IIII

=

=

=

1RW :

0416,0;500020004,0 ==

$FHDVWD vQVHDPQ F vQ VHPHVWUXO ,, DFWLYLWDWHD WUHEXLH LQXW VXEFRQWURO SHQWUX UHDOL]DUHDP VXULORU DGRSWDWH vQ YHGHUHD vQFDGU ULL vQ DFHVWobiectiv. 3HDFHDVW ED] SRWILFRQVWUXLWHVFHQDULLvQGRX LSRWH]HGHED] PrimaFLIUDGHDIDFHULDQXDO GHPLOOHLQXSRDWHILGHS LW GDWRULW OLSVHLGHFHUHUHLUHVXUVHPDWHULDOH A douaQXH[LVW UHVWULF LLPHQ LRQDWH n fiecare caz n parte sunt mai multe variante, care pot fi avute n vedere de conducerea firmei.

$QDOL]DULVFXOXLGHH[SORDWDUHVDXRSHUD LRQDO

5LVFXO GH H[SORDWDUH FRQVW vQ SRVLELOLWDWHD H[LVWHQW GH D QX VHUHFXSHUD WRWDOLWDWHDFKHOWXLHOLORU HIHFWXDWH$QDOL]D VH ED]HD] SH VWUXFWXUDde exploDWDUH D vQWUHSULQGHULLFDUDFWHUL]DW vQ OLWHUDWXUD GH VSHFLDOLWDWH SULQFKHOWXLHOLIL[HLYDULDELOH QFRQVHFLQ SHQWUXHYLWDUHDULVFXOXLWUHEXLHV VHGHWHUPLQHJUDGXOPLQLP GH IRORVLUH D FDSDFLW LL GH SURGXF LH 6H SRUQHWH GH OD HFXD LD CA (Chv + F) = 0 Chv = CA Cv CA (1 Cv) F = 0, de unde:

Cv1FCA

=

*UDGXOGH IRORVLUH D FDSDFLW LL GH SURGXF LH . VH GHWHUPLQ SULQUHOD LD

.maxQCAK =

1RW :QORFGH&$SRDWHILIRORVLW SURGXF LDPDUI IDEULFDW

( ).maxQCv1

FK

=

/D DFHVW QLYHO DO JUDGXOXL GH IRORVLUH D FDSDFLW LL GH SURGXF LHSURILWXO QWUXFkW RULFH DFWLYLWDWH WUHEXLH V ILH JHQHUDWRDUH GH SURILW

P ULPHDDFHVWXLDHVWHRDOW SUREOHP DWXQFL

( ).maxQCv1

REFK

+=

unde: RE = rezXOWDWXOH[SORDW ULL 'LQDFHDVW UHOD LH5( >4max.K(1 G)] F

Exemplu: mil. lei 1. Cifra de afaceri 4375 2. Cheltuieli variabile 2516 3. Cheltuieli fixe 1140 4. Total cheltuieli 3656 5. &DSDFLWDWHDGHSURGXF LH4max.) 6000

( ) %45sau45,06000575,011140K =

=

3HQWUXDHYLWDULVFXOGHH[SORDWDUHHVWHQHFHVDU FUHWHUHDJUDGXOXLGHIRORVLUH D FDSDFLW LL GH SURGXF LH respectiv, GHS LUHD SUDJXOXL GHUHQWDELOLWDWH UHSUH]HQWDW SULQ FLIUD GH DIDFHUL PLQLP