ПО ВЪПРОСА ЗА ЗАДЛЪЖНЯЛОСТТА НА ПРЕДПРИЯТИЕТО (МЕТОДОЛОГИЯ И МЕТОДИКА ЗА АНАЛИЗ НА КОЕФИЦИЕНТА НА ЗАДЛЪЖНЯЛОСТ)
ON THE ISSUE OF THE INDEBTEDNESS OF THE ENTERPRISE (METHODOLOGY AND METHODS FOR ANALYZING THE INDEBTEDNESS RATIO)

Summary/Abstract: The problem of indebtedness is important and relevant at all times in the implementation of the enterprise's activities, both in conditions of financial and economic crises, and in financial successes and economic growth. The relevance of this issue is due to its direct connection with solvency and liquidity, as well as with the effect of financial leverage and profitability of equity, as well as with the sustainable development of the enterprise. The object of study in the article is the indebtedness of the enterprise. This object is considered from two points of view. The first of them is as an independent object of financial and business analysis. From this point of view, the indebtedness of the enterprise is analysed as a result, the value of which is formed under the influence of the relevant factors. The task of the analysis is to establish the influence of direct factors on changes in the indebtedness of the enterprise. Based on the information obtained from the analysis, financial management develops and adopts informed, justified and effective decisions for managing the indebtedness of the enterprise, and hence its financial condition and financial stability. In the second point of view, the indebtedness of the enterprise is analyzed as a direct factor influencing changes in the values of other key business indicators characterizing the various aspects of its overall activity. For example: general capital structure; degree of financial tension in repaying debts; liquidity; solvency; profitability of attracted capital; profitability of fixed capital; return on equity, capital turnover, financial leverage. The study of the indebtedness of the enterprise from the positions of the systemic approach in the two interconnected points of view indicated above allows to objectively reveal the existing dialectical interrelations between the indicators (resultative and factor) characterizing the activity of each enterprise. The subject of consideration in the article is the study of the possibilities for improving the methodology for complex analysis of the indebtedness of the enterprise. The goal set by the author is to improve the methodology for analysing the indebtedness of the enterprise using the indebtedness ratio. To achieve this goal, the following research tasks are set for solution: 1) critical analysis of opinions in the specialized literature on the issue of the indebtedness of the enterprise; 2) establishment of the influence of direct factors on the changes that have occurred in the magnitude of the indebtedness ratio; 3) establishing the influence of changes in the debt ratio on the dynamics of the overall capital structure; 4) establishing the influence of changes in the debt ratio on the dynamics of the indicators of profitability of capital: total capital; attracted capital; equity; permanent capital; 5) effect of financial leverage. Establishing the influence of changes in the debt ratio on the profitability of equity; 6) analysis of the dependence "debt - liquidity" of the enterprise.

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