The purpose and objectives of the analytical work

Financial management

In a competitive environment, ensure the efficient operation of the enterprise depends to some extent on the organization of analytical work. The ability to realistically assess their financial condition, business activity and business partners, competitors, identify the reserves increased profitability is the key to competitiveness.
In this regard, the importance of analytical work at the plant can not be overstated. It is based on the use of information in the financial statements and other documents, and covers methods of analysis and assessment of the financial condition of the company as a whole and individual areas of its activities, the methods for collecting, processing and presentation of financial information, using modern information technologies to interpret this information.
The purpose of financial statement analysis is to obtain an objective assessment of the financial condition of the company and identify factors and reserves to strengthen its financial stability. As a result, financial analysis forms the basis for developing a program of perspective development of the enterprise. That analytical work is a step in shaping the strategy of the entity.
The main objective of the strategy - to provide a stable position in the market, based on efficient use and allocation of resources - material, intellectual, financial and others. The main method of resource management is a method of forecasting and analytical assessment of the basis of the results of economic activity. Financial analysis provides continuous monitoring of the real situation of the company and the accumulating impact of all activities of the company.

The main tasks of analyzing financial statements is:
- Assessment of the dynamics and structure of assets and sources of its formation;
- Assessment of liquidity and solvency;
- Analysis and evaluation of turnover and its separate elements;
- Analysis of business activity and profitability;
- Assessment of resource efficiency;
- A comprehensive assessment of financial viability.
Analysis of the application based on the totality of methods and techniques of calculations, comparisons, clearance conclusions.

Financial status - is an important economic characteristics of the company. It determines the competitiveness of the company, its potential business relationship, assesses the extent of economic interests of security of financial relations.
All users of financial statements aim to analyze the state of the company and on its basis to draw conclusions about the relationship with this company.