Kushnir I.V., Dr. Ph.

Mykolaiv state agrarian university

investment attractiveness of agricultural enterprises

In the first phase formed a general idea about the company. You must identify and evaluate all conditions that may affect the return on investment. They can be divided into external (independent of the borrower) and internal (directly related to the borrower). The external conditions include general economic conditions, such as state economic con "yunktury, inflation and legislative changes, branch companies, taxes, prices raw materials, availability of competition from other sellers of similar goods and so on. Are the internal conditions related directly to the nature of business borrowing. Investor wants to find out the attitude of companies to their obligations in the past, the presence of delay in repayment of loans, its status in the business world.

If the conclusion of the investment attractiveness of enterprises will be positive, you can go to the second phase - study of financial condition. Investment attractiveness of guaranteed reliability of financial condition and has much in common with him. The main difference from the analysis of investment attractiveness and financial status is the variety of goals and objectives, solved various subjects of analysis. Different interpretations and methods of analysis of investment attractiveness and financial status and a relatively small range of indicators provides subjects analysis facilities necessary information to make informed decisions that meet the set goals.

When analyzing and evaluating financial status of the investor usually must:

- To find out how stable liquidity ratio, or was improving their regulatory limits, and depending on the results of calculations to assess ability to repay short-term liabilities;

- To assess how changed coverage ratios of fixed assets and the ratio of total debt, or is not "freezing" of working capital in fixed assets, are not used for this credit;

- Calculate the change in indicators of turnover and reasons for these changes. For example, increasing the turnover of receivables may be associated with increasing sales, expanding clientele. Must determine whether the preferential credit terms to customers, to the extent justified;

- To evaluate and predict the profitability of its main trends in the future.

The third stage of evaluating the investment attractiveness is the analysis of financial results. To identify conditions and opportunities for obtaining profit organization that is the most important financial indicator, the analysis of financial performance in the course of which must be answered the following questions:

- How stable income received and expenditures made;

- That the effectiveness of investing in this company;

- How effective management.

Analysis of financial results is divided into external and internal.

External analysis is recommended in two stages. The first step should be to create a clear understanding of the principles of income and expenditure in the enterprise. The basic information for this should be the explanatory note, which shows the accounting policy of all the facts of change and the impact of those changes on financial results, and all items of income and expenditure that occurred in the reporting period. The second stage is actually an analysis report profits and losses associated with studying the structure of income and expenditures and their relationship.

Internal analysis of financial results appropriate to carry out in three stages. The first phase analyzes the impact on existing businesses accounting principles evaluation of the articles of assets, revenues and expenses, are facts of accounting policy changes and their impact on results. The second stage analyzes the reasons for changing financial results, stable and random factors that influenced his shift. The third stage is conducted in-depth analysis of financial results involving data management accounting, which reveal information about income and expenses at the center of responsibility.