The liquidity ratio of current assets The ability to pay off short-term. What is liquidity. Section V. Short-term liabilities

One of the indicators of the company is liquidity. It is assessed by the creditworthiness of the organization, its ability to fully and is calculated on liabilities. More information about which there are liquidity coefficients, formulas for a new balance sheet for calculating each indicator are presented in the article Next.

Essence

Liquidity is the degree of coverage of the assets of the company. The latter are divided into groups, depending on the transformation period. According to this indicator, it is estimated:

• the ability of the firm to respond quickly to financial problems;
• ability to increase assets with increasing sales;
• ability to return debts.

Liquidity degree

Insufficient liquidity is expressed in the absence of the possibility of paying debts and commitments made. It is necessary to sell fixed assets, and at the most worst case - eliminate the organization. The deterioration of the financial situation is expressed in reducing profitability, loss capital investments Owners, delay in the payment of interest and part of the principal debt on the loan.

The ratio of urgent liquidity (the balance sheet formula for the calculation will be presented below) reflects the ability of the economic object to pay off debt due to existing funds on accounts. Current solvency can affect customers and suppliers. If an enterprise is not able to pay off debt on time, its further existence is in doubt.

Any liquidity ratio (the balance sheet formula for calculation will be presented below) is determined by the relationship between the organization. These indicators are divided into four groups. Similarly, any liquidity ratio (the balance sheet formula for calculation is needed for analyzing activities), one can be determined separately to quickly and slowly implemented assets and liabilities.

Assets

Liquidity is the ability of the property of the enterprise to bring some income. The speed of this process just reflects the liquidity coefficient. The balance sheet formula for calculations will be presented below. What he is more, the better the enterprise "stands on the legs."

We burn assets for the speed of their transformation into cash:

• money on accounts and in the box office;
• notes, treasury securities;
• non-phase debt suppliers issued loans, Central Bank of other enterprises;
• stocks;
• equipment;
• facilities;

Now distribute assets by groups:

• A1 (the most liquid): funds at the checkout and in a bank account, shares of other enterprises.

• A2 (fast-selling): short-term debt of counterparties.

• A3 (slowly implemented): reserves, NWP, long-term finishes.

• A4 (difficult to implement) - fixed assets.

A specific asset refers to a particular group depending on the degree of use. For example, for the machine-building plant, the lathe will relate to the aggregate, made specifically for the exhibition - to non-current assets with a period of use for several years.

Passives

The liquidity ratio, the balance sheet formula is presented below, is determined by the ratio of assets with liabilities. The latter are also divided into groups:

• P1 - the most popular obligations.
• P2 - loans with a period of up to 12 months.
• P3 - the remaining long-term loans.
• P4 - company reserves

The lines of each of the listed groups should coincide with the degree of liquidity of assets. Therefore, before carrying out the calculations, it is desirable to upgrade the accounting reporting.

Balance liquidity

To carry out further calculations you need to compare cash assessments Group. At the same time, such relations should be performed:

• A1\u003e P1.
• A2\u003e p2.
• A3\u003e p3.
• A4.< П4.

If the first three of the following conditions are performed, then the fourth will be automatically executed. However, the lack of funds according to one of the groups of assets cannot be compensated for by the re-fulfillment on the other, since freactive means cannot replace slowly

In order to carry out a comprehensive assessment, the coefficient of general liquidity is calculated. Balance formula:

L1 \u003d (A1 + (1/2) * A 2 + (1/3) * A3) / (p1 + (1/2) * p2 + (1/3) * p3).

The optimal value is 1 or more.

The information presented in this way does not replete in detail. A more detailed calculation of solvency is carried out by group of indicators.

Current liquidity

The ability of a business entity is to repay due to all assets shows the coefficient current liquidity. Balance formula (row numbers):

KTL \u003d (1200 - 1230 - 1220) / (1500 - 1550 - 1530).

There is also another algorithm for which the current liquidity coefficient can be calculated. Balance formula:

K \u003d (OA - long-term DZ - Debt of the founders) / (brute. Weight.) \u003d (A1 + A2 + A3) / (π1 + π2).

The higher the value of the indicator, the better the solvency. Its regulatory values \u200b\u200bare calculated for each industry, but on average ranges in the range of 1.49-2.49. The value is less than 0.99 indicates the inability of the enterprise to be calculated on time, and more than 3 - about the high proportion of unused assets.

The coefficient reflects the solvency of the organization not only at the moment, but also in emergency circumstances. However, he does not always provide a complete picture. Trading enterprises, the value of the indicator is less than the normative, and production - most often more.

Urgent liquidity

The ability of a business entity to repay obligations due to the rapidly sustainable assets minus inventory reflects the urgent liquidity ratio. Balance formula (row numbers):

KSL \u003d (1230 + 1240 + 1250) / (1500 - 1550 - 1530).

K \u003d (brute. DZ + brute. Finnishes + DS) / (brute. Loans) \u003d (A1 + A2) / (π1 + π2).

In the calculation of this coefficient, as well as stocks are not taken into account. From an economic point of view, the implementation of this group of assets will bring the enterprise more losses.

The optimal value is 1.5, minimum - 0.8. This indicator reflects the proportion of obligations that can be covered by cash receipts from current activities. To increase the value of this indicator, the volume should be increased own funds And attract long-term loans.

As in the previous case, the value of the indicator greater than 3 indicates an irrationally organized capital structure, which is caused by slow turnover of reserves and growth accounts receivable.

Absolute liquidity

The ability of a business entity to repay debt due to cash reflects the absolute liquidity ratio. Balance formula (row numbers):

Cal \u003d (240 + 250) / (500 - 550 - 530).

The optimal value is more than 0.2, the minimum is 0.1. It shows that 20% of urgent obligations The organization can pay off immediately. Despite the purely theoretical probability of the emergence of urgent repayment of all loans, it is necessary to be able to calculate and analyze the absolute liquidity ratio. Balance formula:

K \u003d (brief Finnisions + DS) / (brief loans) \u003d a1 / (π1 + π2).

Calculations also use critical liquidity ratio. Balance formula:

Clap \u003d (A1 + A2) / (P1 + P2).

Other indicators

Capital maneuverability: A3 / (AO-A4) - (P1 + P2).

Its reduction in the dynamics is considered as positive factorSince part of the funds frozen in production reserves and receivables are released.

The proportion of assets in the balance sheet: (balance of the balance - A4) / Balance result.

Provision to own means: (P4 - A4) / (AO - A4).

The organization must have a minimum of 10% of their own sources of financing in the capital structure.

Pure circulation capital

This indicator reflects the difference between current assets and loans, payables. This is the part of the capital, which is formed at the expense of long-term loans and its own funds. The formula for calculation has the form:

Pure capital \u003d OA - short-term loans \u003d p. 1200 - p. 1500

The excess of working capital over liabilities suggests that the enterprise is able to pay debts, has reserves for expanding activities. Regulatory value - Above zero. The lack of working capital indicates the inability of the organization to repay the obligations, and significant excess - on the irrational use of funds.

Example

The company's balance sheet includes:

• Cash (DS) - 60,000 rubles.
• Short-term investments (KFV) - 27,000 rubles.
• (DZ) - 120,000 rubles.
• OS - 265 thousand rubles.
• NMA - 34 thousand rubles.
• Stocks (PZ) - 158,000 rubles.
• (KZ) - 105,000 rubles.
• Short-term loan (QC) - 94 000 rub.
• Long-term loans - 180 thousand rubles.

Cal \u003d (60 + 27) / (105 + 94) \u003d 0.4372.

The optimal value is more than 0.2. The company is able to pay 43% of obligations at the expense of funds in the bank account.

Calculate the urgent liquidity coefficient. Balance formula:

KSL \u003d (50 + 27 + 120) / (105 + 94) \u003d 1.09.

The minimum value of the indicator is 0.80. If an enterprise uses all available funds, including debt of debtors, then this amount will be 1.09 times more than the obligations available.

Calculate the coefficient of critical liquidity. Balance formula:

Clap \u003d (50 + 27 + 120 + 158) / (105 + 94) \u003d 1,628.

Interpretation of results

The coefficients themselves do not bear the semantic load, but in the context of time intervals, they characterize the activities of the enterprise in detail. Especially if they are complemented by other calculated indicators and more detailed consideration of assets that are accounted for in a specific bar of the balance sheet.

Unquidic reserves cannot be quickly implemented or used in production. They should not be taken into account when calculating the current liquidity.

In an organization that is part of a holding group, when calculating the liquidity ratio of internal receivables and accounts payable Not taken into account. The level of solvency is better determined according to the absolute liquidity coefficient.

Many problems will cause an overestimated assessment of assets. The inclusion in calculations of the recovery of unlikely debt leads to an incorrect (reduced) assessment of solvency, obtaining unreliable data on the financial situation of the organization.

On the other hand, with the exclusion of assets, the likelihood of obtaining income from which is low, to achieve normative values \u200b\u200bof liquidity indicators is difficult.

Tells Viktor Rabdsev,
Head of Financial Modeling and Financial Analysis, Bankruptcy in BRP Advice

What shows the current liquidity coefficient?

The current liquidity ratio shows how much the enterprise is solvent, subject to timely repayment by buyers of receivables and mobilization of others current assets To repay current obligations.

On the solid example The value of the coefficient can be understood as follows: Can the company be able to pay with lenders on short-term obligations due to liquid current assets. That is, money, their equivalents, short-term financial investments will be used for settlements with creditors, will be charged with the receivables, other current assets are implemented. All non-current assets will remain inviolable, thanks to this business can be restarted.

Definition of the coefficient of current liquidity

The current liquidity ratio characterizes the ability of the company to fulfill its current obligations at the expense of all available liquid assets.

What is needed to calculate the coefficient of current liquidity?

To calculate the coefficient of current liquidity, you will need a balance. You can use an accounting or management balance (depends on the purpose of calculating the coefficient).

Current liquidity ratio, formula

The current liquidity coefficient is calculated: the amount of liquid assets is divided into total The short-term obligations specified in the balance sheet.

That is, the following formula is used to calculate the current liquidity coefficient:

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What is liquid assets?

There are two fundamentally different methods for calculating the current liquidity ratio. They differ in the fact that liquid assets are evaluated differently. The first technique suggests that all revolving assets are liquid. The second methodology suggests that liquid assets include money, their equivalents, short-term financial investments, short-term receivables and assets reflected in the balance sheet "Other current assets". That is, according to the second methodology, the liquid assets do not include long-term receivables, VAT on acquired values, the debt of participants on contributions to the authorized capital, their own shares repurchased from shareholders.

The first technique is more often used when conducting a classic financial Analysis. The second is in case of bankruptcy.

Regulatory value of the current liquidity coefficient

The financial position of the company is recognized as good when the current liquidity coefficient is obtained greater than 2. But the normal may be recognized as a position at which the value of the coefficient is greater than 1.

In the current liquidity ratio, it turns out that it is necessary to use absolutely all liquid assets for calculations with creditors for short obligations. Unfortunately, this is not always possible. Often, the composition of receivables turns out to be a hopeless or hard-witted part, as part of other current assets may be a shortage material valueswhich will not be able to identify the perpetrators.

Analysis of the coefficient of current liquidity

Analysis of the coefficient of current liquidity can be carried out in three directions.

The first is the calculation of the ratio of the coefficient at the reporting date and comparison with the standard.

The second is a comparison with the middle industry and / or the region for the same period of time.

If the current liquidity ratio is on your company and below standards, and below average, your business can be recognized as insolvent. This can lead to bankruptcy and subsidiary responsibility of the head and owners of the company's debts of the enterprise.

The third direction of analysis is the study of the dynamics of changes in the coefficient of current liquidity. With this analysis, it may be useful not only to calculate the difference between the past and current, but determine the causes of such changes. This uses a factor analysis.

The value of the current liquidity coefficient in financial analysis

The current liquidity ratio is one of the key indicators characterizing the company's financial position. It is used, among other things, when conducting financial analysis in bankruptcy. This coefficient helps to understand whether the director has to respond to its property on bankrupt debts.

Technical ways to overestimate the value of the current liquidity coefficient

The values \u200b\u200bof the current liquidity ratio will grow when the company's activities are effective, the profits are reinvisory, and in the capital structure, preference is given to more sustainable liabilities: long-term obligations and own capital. But technically the coefficient can grow for other reasons.

The current liquidity ratio is usually calculated on the balance sheet. For its overestimation, the same methods can be used as for the overestimation of the absolute liquidity ratio, as well as other mechanisms.

The current liquidity coefficient will be relatively higher with the growth of liquid assets. For their overestimation, accounts receivable, reserves and other current assets are used. For example, the shortage identified during inventory can be included in other current assets before identifying guilty individuals or write-off on costs. In the receipt, do not write off hopeless debts. If the analyst does not have a detailed decryption of the necessary balance lines, then the calculated values \u200b\u200bof the current liquidity coefficient will be higher than real.

What else is useful to know?

We wish you successful work!

Your Victor Rytsev
And the BRP Advice team.

The current liquidity ratio is a key indicator characterizing the liquidity of the enterprise. It is widely used by banks and others. financial institutions When providing loans to enterprises. Therefore, the question of how to improve the coefficient of current liquidity, worries entrepreneurs and financial directors.

The financial director needs to be well "to know the enemy in person" and correlate the strategy implemented by top management with their influence on liquidity indicators. To do this, focus on current liabilities and assets, as well as monitor the value of the liquidity indicator and determining its variables regularly throughout the year.

What is the coefficient of current liquidity

The current liquidity ratio is an indicator obtained as a result of dividing the value of current assets on the magnitude of the current obligations of the company, use the average for the calculation reporting period value.

The formula of the coefficient of current liquidity

Current liquidity ratio \u003d value of current assets / current liabilities

The resulting digit is important because it reflects the liquidity of the company. It is usually assumed that the higher the coefficient, the higher liquidity and vice versa. However, such conclusions are made only on the basis of this ratio without a detailed study of rash. To illustrate, the following situations can be brought:

1. In the event of a fall in sales, the level of stocks will grow, which increases the value of the current liquidity ratio, but at the same time affects real liquidity rather negatively, in warehouses do not pay off with creditors if necessary.
2. Customer detention will increase the amount of receivables, which, in turn, will increase, the size of current assets, but again it will not be improved by other of the company's real liquidity, since the probability of returning 100% of customer debt at the right moment is not much likely.

Download Useful Documents:

Calculation of the coefficient of the current liquidity balance

The basis for calculating the coefficient is the balance sheet of the organization, in particular:

• row 1200 containing information about all current assets of the company: reserves, receivables, moneyah in accounts and others;
• row 1510 - credit balance account 66, reflecting information about the debt balances of the organization by short-term bank loans and loans;
• row 1520 - containing final information (credit balance) on accounts 60.62, 68.69.70,72,73,75,76, which in turn form short-term accounts debt ;
• row 1550 - Others short-term liabilitieswho have not entered the above sections (account balance 86);
• row 1170 - " Financial investments"If these investments can be quickly implemented or returned.

The liquidity coefficient is calculated at the time of reporting.

The formula of the coefficient of current liquidity on balance

CL \u003d (line 1200 + line 1170) / (strings sum 1510,1520 and 1550)

It should be noted that short-term obligations in this case You should not attribute the value of strings 1530 "Incomes of future periods" and 1540 "Reserves of upcoming expenses" ( estimated obligations), who are in their essence are not real obligations, and reserves created by the organization for their own purposes.

Target Range of Values \u200b\u200bCurrent Liquidity Coefficient

The probability of realizing all assets is simultaneously 100% of the cost, for this reason, the ratio of current assets and current obligations as 1: 1 is not optimal.

However B. financial world There are tools, thanks to which you can quickly attract funding for available assets, incl. under receivables ( factoring), Also, many assets can be quickly and successfully sold, providing a discount to the market price. From here there is a need to cover the current assets obligations, taking into account their cost when rapidly selling or discounting for the purpose of attracting financing, on average, the assets of assets are from 50%, therefore the favorable ratio of current assets and liabilities will be 1.5-2.5: 1. The excess of the cost of assets over the obligations is performed by the function of the "stock of strength" for the company and in Western sources is called the "Margin of Safety").

Example of calculating the coefficient of current liquidity

Suppose the following dynamics of balance indicators (Table 1).

Table 1. Balance (fragment)

Then the current liquidity coefficient will have the following form (Table 2).

table 2. Calculation of the coefficient of current liquidity

As we see from the table, the liquidity indicator falls in 2015 and 2017 in an acceptable liquidity range, in 2016 liquidity decreased, but apparently the management has made the relevant conclusions and made preventive measures, so the next year the situation has reached the target range.

How to increase the liquidity of the enterprise

There are several ways to [improve the situation with liquidity. Consider their details

Acceleration of the flow cycle of receivables

Sale of unproductive assets

Pretty general situation for companies in Russia is the possession of a large amount of real estate, necrophile assets. Thus, the company freezes liquidity, in assets that may, in principle, do not bring any profits and not to give utility. So if the company earns highly technological services (for example, Google), it does not need to own office buildings in which headquarters, representative offices, auxiliary units, call centers, etc. are located. Changing the office center does not create risks for business such a company, but the change or lack of control over the data processing centers (data center) carries with them significant risks for a key business, in which case the centries make sense to keep on the balance sheet, and office centers are better selling or transferred In return lease.

Sale of unproductive assets will increase the amount of funds on accounts, which in turn will increase the liquidity of the company.

An increase in joint-stock or authorized capital.

A logical solution in the event of difficulties is the assistance of owners of its company, it can be done in the form:

• interest-free loan;
• dara company from the owner;
• contribution to property for LLC (according to Art. 27 FZ No. 14 "On Limited Liability Societies");
• zoom authorized capital For LLC or additional emissions for JSC.

Such assistance will increase the size of current assets (for example, as a result, the amount of funds in accounts will increase if the assistance is provided in the form of money infants) and accordingly improve the liquidity of the enterprise.

In this article, we will consider the current liquidity ratio, which shows the company's ability to repay the current (short-term) obligations due to only current assets.

Due to the simple formula for calculating and informative, the coefficient of current liquidity has an important place in the assessment financial activities Different industries are used in a number of effective methods of bankruptcy forecasting.

Current liquidity ratio. general information

The current (or general) liquidity ratio (K) is the financial value showing the ratio of current assets to current liabilities, or - short-term obligations, which is drawn up on the basis of information accounting balance. It is also an indicator of the ability to repay short-term loans with the help of working capital. What K is higher, topics are solvent. His decrease says that assets in urgent order No longer implemented. General formula:

• k \u003d (Current assets): (current obligations).

Current assets:

• cash (including electronic money) at the checkout on the settlement accounts of banks;
• accounts debt + reserve for compensation of hopeless debt;
• investments in securities;
• material values \u200b\u200band products for sale.

Current responsibility:

• loans for up to one year;
• unpaid obligations to suppliers, Kaznaya.
• other loans.

Deduction formula for assets and liabilities:

1. k \u003d (al + ab + am): (PS + PC), where
   • Al - assets liquid;
   • AB is high-voltage;
   • AM - slowly implemented;
   • PS - liabilities of urgent obligations;
   • PC - short-term.

Balance formula:

• k \u003d (p. 1200 + p. 1170): (p. 1500 - p. 1530) - s. 1540).

Purpose of the coefficient of general liquidity

This value performs the following tasks:

• an indicator of availability of the possibility of paying for its obligations throughout the current production cycle;
• "Lacmus paper" of the company's solvency, its ability to cover all loans available amounts;
• performance indicator, both a separate operational period and the selected direction of product turnover;
• important information for investors;
• the components required for the formula of this k are used in the calculation of working capital.

The rate of the coefficient of current liquidity and deviation from it

The value of the current liquidity coefficient:

Important! When calculating, it is impossible to forget that the assets of liquid unevenly - it is necessary to take into account the speed of their turnover (use the second formula).

Ways to enhance the liquidity of the enterprise

To optimize the indicators K, the following methods are used:

Important! Lowk. This liquidity is not an indicator of money deficit. Since the current assets include receivables, attachments, products, and so on.

Calculation of the indicator on the example of AvtoVAZ

Using the general formula:

• k (2014) \u003d 49 783/86 888 \u003d 0, 00001151;
• k (2015) \u003d 40 073/12 867 \u003d 0, 00000886;
• k (2016) \u003d 55 807/117 723 \u003d 0, 4740535.

The average number of current liquidity by the sectors of the Russian Federation

Comparison with other liquidity ratios

Comparative table of existing liquidity deductions coefficients:

Important! Norms of coefficients can be varied depending on the industry of the enterprise.

Using the current liquidity ratio in bankruptcy forecasting

The current liquidity ratio is one of the values \u200b\u200bto calculate the state of affairs in the future - bankruptcy or prosperous activities. When calculating, the formula of Edward Malton is often used:

1. B \u003d - 0.3877 - 1.0736 x k l + 0.0579 x kn. (k l - the coefficient of current liquidity, K N is the concentration of hired tools):

• In\u003e 0 - the probability of bankruptcy is small;
• B \u003d 0 - 50/50;
• IN< 0 – чем выше величина, тем вероятнее разорение.

The advantage of the formula in its simplicity. However, it is not adapted to the Russian business, since it was created on the example of the reporting of foreign countries, therefore there is a probability of the forecast error. A more accurate formula is the so-called four-phase, but already with other components:

1. B \u003d (8.38 x a 1) + a 2 + (0.054 x and 3) + (0.63 x and 4), where

• A 1 - coverages/assets;
• And 2 - net income / its budget;
• And 3 - profits from the sale of products / asset;
• A 4 - Pure Revenue / Integral Costs.

Important! It is believed that this formula is able to predict the future of the firm with a result of up to 80%.

What shows the negative indicator of current liquidity?

In the literal sense, the negative number of the indicator can not be - it can be small up to one ten thousand. The progressive negative dynamics of magnitude speaks of the following:

• wrong financial Policy companies and distribution of funds;
• oversaturation by obligations to creditors;
• a large volume of unrealized products;
• about excessive investments;
• the presence of a large number of debts outstanding in front of the company.
• probably proximity of bankruptcy.

Methods of evaluating financial state using the current liquidity indicator

The main methods of assessment with the participation of the coefficient:

1. Model of seleznevoy-ionovoy. The technique is aimed at comparing the actual indicators with the standard, detection of the profitability of assets in terms of their net income, as well as the overall assessment of the management of the company.
2. Model Saifullina-Kadykova. Similar to the previous one, can be correct to analyze the financial status of companies of various industries and values. Also calculated the success of sales and turnover of its own budget.
3. Model Postyuschova. Suitable for estimating the prediction of the ruin of the enterprise with a prediction distance of the state to six months.

Current liquidity ratio: current issues

Answer: All information is taken from the annual financial report Companies, accounting documents.

Question №2: Is it worth it to navigate the all-Russian norms of the current liquidity coefficient?

Answer: only to hold information. Each industry, depending on the subject of the Russian Federation, where it functions, the indicators K are very different.

Question number 3: For whom first need to count the K general liquidity?

Answer: This information is useful to own the company's head, it can also be demanded by your creditors and investors.

Question # 4: If the rate calculated by me is high - more than two, then my business moves in the right direction?

Answer: Unfortunately, it is not. High rates indicate that working capital does not actually work.

Question number 5: Can there be a negative liquidity indicator?

Answer: No, it does not assume even his formula. Maybe negative dynamics or a negative result - less than 1.5.

What is liquidity? Such a question arises in people who are far from economic realities and experienced businessmen. Liquidity is an opportunity to quickly turn assets into their cash equivalent at good prices. There are highly and low-liquid values, as well as illiquidcies. The concept of liquidity can be applied to any firms, securities, real estate, vehicles and a different property owned by an enterprise or a private person. Typically, the highest liquidity has money that rotate in this economic system.

Liquidity coefficient

The liquidity of any organization and the company is calculated on several financial indicators, one of which is the liquidity ratio - is calculated on special formulas. With this coefficient, you can compare the cost of current assets that have different degree of liquidity, with the amount of current obligations. There are coefficients:

• general liquidity or coverage that show how much an enterprise is able to provide its short-term obligations;
• current or fast liquidity, which show what part of the obligations the company can pay off at the expense of funds, financial investments;
• absolute liquidity, allowing to identify short-term liabilities, debt for which the company can pay off urgently.

Current liquidity

To find out what part of the current obligations, the firm or organization can pay off at the expense of cash or their equivalents, investments and receivables, it is necessary to know what is fast or current liquidity. The rapid liquidity coefficient is calculated by a special formula. The indicator of this type of liquidity indicates how solvent is the organization or a firm, how quickly it will be able to repay the current obligations, paying back with the debtors. Typically, the rapid liquidity ratio of 0.6 is considered acceptable.

Balance liquidity

The financial indicator is the liquidity of the balance - shows the degree of covering the obligations of the company asset, which can be paid in money in the time limits corresponding to the repayment of obligations. The solvency of any company and enterprise depends on this indicator. To find out how favorably the financial situation of the enterprise, it is necessary to know how much the cost of current assets exceeds short-term liabilities. The greater this value, the well-being a firm in terms of liquidity. Of particular importance to the determination of the liquidity of the balance has during the liquidation of the bankruptcy of the enterprise or company.

Analysis of liquidity

To analyze the liquidity of the company's balance sheet or the organization of any form of ownership, assets are grouped by liquidity to the degree of liquidity - from the fastest assets with slow liquidity. The correct analysis of the liquidity of assets is carried out in this order:

• the most liquid assets;
• quickly implemented;
• slowly implemented;
• it is difficult to implement assets.

As for the liabilities, the most urgent obligations are initially analyzed, then short-term liabilities, long-term and completion, constant liabilities.

Absolute liquidity

If you need to calculate the company's reliability or to quickly eliminate it, it is necessary to know its financial indicators. One of them is absolute liquidity - this is a coefficient showing what part short-term debt You can repay immediately. The absolute liquidity ratio or CashRatio shows how much a firm or enterprise can pay off the short-term immediately. This indicator is calculated as the ratio of current assets that can be sold immediately to the current obligations of the debtor.

Liquidity indicators

Liquidity is the most important indicator of the efficiency and reliability of the enterprise. It shows how much an enterprise is credited. To know exactly how promising the company is promising, it is necessary to analyze their work. During the analysis of the activities of any company, it is necessary to take into account the liquidity indicators of the balance. The main coefficients are:

• absolute liquidity;
• critical assessment;
• maneuverability of functioning capital;
• current liquidity;
• providing own funds.

Liquidity of assets

The assets of the company that can be quickly and profitably in the money is called liquid. The highest asset is the means that the company has in the checkout on the accounts, deposits. Good liquidity of assets from securities that can be beneficial to sell on the stock exchange at any time. The least liquid is the reserves of raw materials, materials, the cost of work in progress. Accounting analysis The liquidity of the balance is based on the principle of liquidity increases, the most important in the preparation of the balance are the three coefficients:

• absolute liquidity;
• quick liquidity;
• current liquidity.

Bank liquidity

Any organizations can be considered from the point of view of liquidity, including financial ones. Such a concept as the liquidity of the Bank is its ability to quickly fulfill obligations to depositors, investors, creditors - is very important when choosing a bank. Obligations financial organization There are real and potential or conditional. Bank liquidity factors are external and internal. Internal factors it is:

• bank management and its image;
• the quality of the funds raised;
• quality of bank assets;
• contingence of assets and liabilities.

External liquidity factors are;

• state of the economy in the country;
• development of the securities market;
• the effectiveness of the oversight of the Bank of Russia;
• refinancing system.

Liquidity of the enterprise

The liquidity of the enterprise is the ability to repay its debt quickly and profitable. The degree of liquidity is determined by the ratio of the balance of the balance and liability and determines the stability of the enterprise. Liquid funds of the enterprise are all those assets that can be converted into money and use for debt repayment. This is money in the checkout, on accounts and deposits, securities that are listed on the stock exchange, working capital, which can be quickly implemented.

There is a common (current) and urgent liquidity of the enterprise. General is the ratio of the amount of current assets and liabilities at the beginning and end of the year. An analysis of the liquidity of the enterprise is determined by coefficients. If the coefficient of current liquidity is below 1 - this means that the company has no stability. Normal indicator - over 1.5.

Market liquidity

Liquidity - an important indicator any market. To make transactions on stock market Or such a popular Forex market, it is necessary to navigate which exchange tools can be quickly buying and just selling as quickly. Market liquidity is the ability to make a profitable deal with shares, futures, currency pairswithout losing in the price and time. In other words, the market participant will receive any asset best price The market is so fast as possible. The highest liquidity of money - they can instantly exchange to the goods. Real estate - low liquidity.

Liquidity of securities

The liquidity of securities is the ability to turn them into money quickly and profitable, and this possibility is constant. It is this characteristic that is based on the basis of understanding how effective certain securities are. High liquidity will allow the investor instantly to receive cash for securities.

The main characteristic of the liquidity of securities is a spread - the difference between the prices for sale and the purchase. Than the spread is less, the higher the liquidity. The liquidity is influenced by the attractiveness of securities of a certain issuer in the investment plan. It can be designed if the company's performance indicators and the assessment of its securities market are known.

Liquidity of money

The highest, you can say the money perfect liquidity. The liquidity of money means that you can get the goods or services that are necessary at any time. Money is a means of payment in any country in the world. They are most protected from oscillations of their value. Universality, like payment tools, that is, liquidity, makes money the most popular asset. Cash is the greatest liquidity, then funds on the current deposit. In the last place there are securities that need to sell in the stock market.