Evaluation of Financial and Analytical Activities of the Biggest Car Makers of the Russian Federation

Ravil Gabdullaevich Akhmadeev, Olga Alekseevna Bykanova, Tatiana Victorovna Morozova, Emiliya Gennadyevna Safonova, Tatiana Borisovna Turishcheva, Liubov Lehoux

Abstract


ABSTRACT

Companies need an internal management control system to develop successfully in the current conditions of a market economy. This statement is true irrespective of an organisational form of a company. Financial indicators (such as profit) can give a full picture of absolute effectiveness of the company's performance. The main activities of any company can be split into the following groups: production, sales, procurement, financial and investment activities. According to the 2013-2016 consolidated financial statements prepared under IFRS, Russia’s largest car producers include AVTOVAZ Group, GAZ Group, KAMAZ Group and SOLLERS Group. They all used a three-factor model of return on equity and other mathematical tools. Analysis of the three-factor model of return on equity enabled us to formulate several statements. The main factor affecting return on equity is the sales margin. When the sales margin is measured within a certain period of time, there can be either a negative or a positive influence on the final financial results of a company. The two other factors that influence return on equity are less significant. The factor of margin is the most significant and the index of capital intensity is the least significant factor of the three. Our practical innovation is a new model to analyse financial reporting of a car making company, which showcases the financial position of a company.

Keywords: International Financial Reporting Standards; accounting policies and procedures in a company; profit and loss; taxation; consolidated financial statements

ABSTRAK

Sesebuah syarikat memerlukan sistem kawalan pengurusan dalaman untuk membangun dengan jayanya dalam keadaan pasaran ekonomi semasa. Kenyataan ini adalah benar tanpa mengira bentuk organisasi sesebuah syarikat. Penunjuk kewangan (seperti keuntungan) dapat memberikan gambaran penuh tentang keberkesanan mutlak prestasi perusahaan. Aktiviti utama mana-mana syarikat boleh dibahagikan kepada kumpulan berikut: pengeluaran, jualan, perolehan, aktiviti kewangan dan pelaburan. Menurut penyata kewangan yang disatukan 2013-2016 yang disediakan di bawah IFRS, pengeluar kereta terbesar di Rusia termasuk Kumpulan AVTOVAZ, Kumpulan GAZ, Kumpulan KAMAZ dan Kumpulan SOLLERS. Kesemua mereka menggunakan model tiga faktor pulangan ekuiti dan alat matematik lain. Analisis model pulangan ekuiti tiga faktor membolehkan kita merumuskan beberapa penyataan. Faktor utama yang mempengaruhi pulangan ekuiti ialah keuntungan jualan. Apabila keuntungan jualan diukur dalam tempoh masa tertentu, terdapat kemungkinan sama ada pengaruh negatif atau positif terhadap keputusan kewangan akhir sebuah syarikat. Dua faktor lain yang mempengaruhi pulangan ke atas ekuiti adalah kurang ketara. Faktor keuntungan adalah yang paling ketara dan indeks keamatan modal adalah faktor yang paling kurang ketara di antara ketiga-tiga factor. Inovasi praktikal kami adalah model baru untuk menganalisis laporan kewangan sebuah syarikat pembuatan kereta, yang mempamerkan kedudukan kewangan sebuah syarikat.

Kata kunci: Piawaian Laporan Kewangan Antarabangsa; dasar dan prosedur perakaunan dalam syarikat; untung dan rugi; pencukaian; penyata kewangan disatukan


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