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Attracting investment in fixed assets. What is investment in fixed assets? The volume of investments in fixed assets. Investments of global importance

An enterprise as a kind of economic organism, having formed, must develop. The condition for its creation and development is a combination of production factors, that is, materials and conditions necessary for the manufacture of products and the provision of services.

The performance of any work in production and the implementation of its results is impossible without consumption factors - resources that are transformed, that is, they are included in new goods;

potential factors - resources that are involved in the production of new goods, but are not included in them;

dispositive factors - management activities at the enterprise;

additional factors - external relations enterprises; natural and social conditions.

Some of the necessary factors entrepreneurs can invest in production in material form (premises, machines, tools, etc.) with the determination of their value; the formation of other factors requires the allocation of funds necessary for this. The functioning of the organization needs money as a means of payment to pay monetary claims and funds that are invested in the acquisition of factors of production, and, therefore, cannot be used for other purposes for a long time.

The aggregate of funds required by an organization for its activities represents financial resources.

Elements of the organization's financial resources:

Investing is broadly defined as the process of parting with "money today in order to get more money in the future." At the same time, there are two main factors that characterize this process - time and risk. Here investment is considered as a process of investing money in order to obtain a larger amount in the future.

Investment is a rejection of momentary consumption of goods for the sake of fuller satisfaction of needs in the coming years by investing in objects of entrepreneurial activity. This is a targeted investment for a certain period of capital in all its forms in various objects (instruments), accompanied by a certain degree of risk, based on the full return on capital and income in the form of a rate of return on investment, allowing investors to achieve their individual goals.

Production investments are the future fixed assets of production, fixed capital. The fact that fixed capital is the determining factor of production has long been recognized by leading scientists - economists of the world, that is, the volume of the product produced depends on fixed capital (investment) and labor resources employed in production, and grows with an increase in production factors.

Consequently, in order to increase the volume of production, to ensure economic growth, it is necessary to increase either capital or labor resources, or both factors at the same time. Since the possibilities for increasing the labor factor are limited, the main source of growth is capital, which can be increased by increasing investments. Such a two-factor model is somewhat simplified, it does not take into account explicitly, and with this approach it is clear that large-scale use of these factors requires investments in science, technology, and technology. Building up labor resources and increasing their efficiency is also not possible without investing in human resources.

Investing is the process of investing and using investment resources, as well as financing investment resources. These processes form the basis of the financial activity of the enterprise.

In the broadest sense of the word, the financial activity of an enterprise is a cash flow, in which two sides of a single process are concluded:

1. Funding

2. Investing

Financial management of an enterprise is the essence of financial management, in which two aspects can be distinguished:

1. Management of the financing process

2. Management of the investment process

These two aspects of management have a common goal - to improve the efficiency of the use of financial resources of the enterprise. For the owner of the investment (capital), the ultimate goal is to generate a cash flow that will ultimately increase his consumption flow. The financial and production activities of the enterprise are aimed at this goal - an inextricable relationship between production and financial activities, which ensures capital turnover.

The fundamental complex derivative financial and economic task is to ensure a balance between the financial resources at the disposal of the enterprise and the need for a production process focused on efficient management (production process).

The main arguments in favor of the need for investment is to increase production efficiency and maximize profits. Ultimately, they are necessary to ensure the normal functioning of the enterprise in the future, stable financial condition and profit maximization.

Investments in production, in new technologies help to survive in a tough competition, both in the domestic and foreign markets, provide an opportunity for more flexible regulation of prices for their products. By influencing the expansion of production capacity in the long term, investments have a significant impact on the existing capacity.

At the enterprise level, investments are required primarily to achieve the following goals:

1. Expansion and development of production;

2. Reconstruction;

3. Technical re-equipment;

4. Improving the quality and ensuring the competitiveness of the products of a particular enterprise;

5. Modernization;

6. New construction.

Expansion and development of production - the second and subsequent stages of construction; additional production complexes and production facilities, new auxiliary and service production facilities on the territory of the existing enterprise; increasing the throughput of existing production facilities, farms and communications on the territory of the operating enterprise and adjacent sites. This is an extensive way to increase the production capacity of an enterprise.

Reconstruction - renewal of fixed assets and non-production facilities on a more advanced technical basis. Reconstruction includes complete or partial re-equipment and reorganization of production (without the construction of new and expansion of existing workshops) with the replacement of morally and physically obsolete equipment, partial changes in the volumetric planning and design solutions of facilities, change in their number of storeys, etc.

1. Increase in production capacity and production volumes by intensive methods;

2. Expansion of the range and improvement of product quality;

3. Improving the comfort of the premises;

4. Reducing the cost of operating facilities, etc.

Technical re-equipment is one of the elements of reconstruction. It includes a set of measures to improve the technical and economic level of production through the introduction of advanced technology and technology, mechanization and automation, computerization, replacement of obsolete equipment, etc. The volume of construction work is insignificant.

Modernization is one of the elements of technical re-equipment, which consists in improving and bringing the active part of fixed assets in line with the modern level of technological processes by constructively changing the machines, mechanisms and equipment used by the enterprise in production activities.

New construction - construction of enterprises, buildings and structures on new land plots(construction sites) according to the initial project established in the approved manner. Construction is considered new until it is completed and the facility is put into operation.

Capital investments are the basis for expanded production, reproduction and renewal of fixed assets of enterprises, restructuring of social production and balanced development of sectors of the national economy. They contribute to the creation of the necessary raw material base for the industry, the acceleration of scientific and technological progress and the improvement of product quality, the development of new product markets. They increase the profitability and market value of enterprises, and regulate the problems of unemployment. Through capital investments, housing construction is carried out, the social sphere is developed, issues of environmental protection are being addressed, etc.

Capital investments are investments in fixed assets (fixed assets), including the costs of new construction, expansion, reconstruction and technical re-equipment of existing enterprises, the acquisition of machinery, equipment, tools, inventory, design and survey work and other costs. Capital investments are the economic foundation of construction.

Thus, investments play a crucial role, first of all, for simple and extended reproduction, structural transformations, profit maximization and, on this basis, solving many problems.

Goals and principles of the investment policy of the enterprise:

the main goal of the company's investment policy can be formulated as creating optimal conditions for investing its own and borrowed financial and other resources, ensuring an increase in income on invested capital, for expanding economic activity enterprises, creating the best conditions for winning the competition.

Along with the main goal, entrepreneurial structures in the process of implementing investment policy strive to achieve individual goals or sub-goals. First of all, such goals or sub-goals include:

1) development of strategy and tactics of the economic activity of the enterprise for the short and long term;

2) search for the most effective objects for investment;

3) selection of the best option for an investment project;

4) search and assessment of alternative sources of financial resources for the implementation of the investment process;

5) achieving the maximum result in the process of implementing the investment policy with the minimum possible amount of capital, the duration of its operation and organizational efforts.

When developing an investment policy of an enterprise, it is necessary to adhere to the following principles:

Investment policy focus on achieving strategic plans the enterprise and its financial stability;

Accounting for inflation and risk factors;

Economic feasibility study of investments;

Formation of the optimal structure of portfolio and real investments;

Ranking projects and investments according to their importance and sequence based on available resources and taking into account the involvement of external sources;

Selection of reliable and cheaper sources and methods of financing investments.

Taking these and other principles into account will allow avoiding many mistakes and miscalculations when developing the investment policy of an enterprise.

In modern conditions, an effective investment policy should be based on the development of four basic principles:

Improvement of legislative support for investment activities;

Concentration of investment policy on strategic directions of investment programs;

Organization of interaction with enterprises in order to mobilize their own funds in investments (realization of mutual interests of regional enterprises in the development of investment policy);

Continuous monitoring of positive and negative aspects of development.

Investments in fixed assets are associated with the purchase of new equipment, repair and modernization of technical mechanisms, which ultimately leads to an increase in production and an increase in profits in the medium and long term. Usually, such investments do not give a quick return, but they provide stable profits for several years and even decades.

Concept and types of investments in fixed assets

In a simplified sense, this concept means the entire volume of investments in fixed assets, which is also called fixed assets. This refers to objects of physical capital that constantly, for a long time, participate in the production of material objects.

The capital structure is represented mainly by the following objects:

• machine tools;
• building;
• technical and production facilities;
• machines, devices;
• vehicles for any purpose (cars, trains, planes, special vehicles and much more);
• tools;
• livestock (meaning the basis of agricultural production);
• mechanisms;
• devices;
• conveyor line, etc.

Material objects include such examples as ovens for making bread, a production hall, metal rolling machines, weaving machines for the production of cloths, a cow that gives milk, a car that transports this milk, and much more. The cost of such objects is repeatedly transferred to the price of the product. This means that the consumer, every time making a purchase of a product, pays, among other things, the costs of:

• purchase of equipment;
• his Maintenance, current work;
• modernization, purchase of new machines.

Among the fixed capital, there are mainly tangible objects, however, in some cases, intangible values ​​can also be ranked as fixed assets - copyrights, trademarks, patents for inventions. They also "participate" in production and are included in its cost. For example, the inventor has patented a new technology for the manufacture of semiconductor materials. After that, a microelectronics manufacturing company bought the technology and started making parts that would give gadgets the best performance possible.

The structure of investments in fixed assets is determined by various criteria. It is possible to classify such investments according to the already described criterion into 2 groups:

• investments in material objects (equipment, buildings, machines and much more);
• investments in intangible assets (purchase of patents, copyrights, trademarks).

You can also classify investments depending on the area:

• Agriculture;
• industry;
• construction of residential and non-residential facilities;
• transport;
• communications and communication;
• financial activities;
• healthcare;
• education, etc.

Such a classification is important not only from a theoretical but also from a practical point of view. It is always important for an investor to understand exactly which area to invest in this moment... When financing certain enterprises, the amount of expected profit, the stages of the company's work, the timing of income and the payback time of the project are taken into account.

The calculations necessarily analyze the current market situation and predict the development of the situation in the coming years. For example, if an increase in construction volumes is expected, then it makes sense to invest in this area, as well as in the production of building materials, the purchase of special equipment and vehicles for its transportation.

Sources of investment in fixed assets

Each manufacturing company is interested in attracting partners who can provide the optimal amount of investment in fixed assets. Therefore, the management of the enterprise or other responsible persons must constantly monitor the possibilities for obtaining new investments. To do this, you need to know about all possible sources of investment. In practice, it is convenient to combine them into 2 groups - internal and external.

Internal sources

These are the most accessible sources of financing, the volume of which is quite simple to determine both at the current moment and in the medium term. These include:

1. Commercial profit of the enterprise. As a rule, the net proceeds are re-invested in production, i.e. in fact, there is a process of reinvestment due to a positive balance of funds in the company's accounts. Another model of the company's economic policy - saving funds - is used in case of unfavorable market conditions, when the investments made are at risk of not paying off.
2. Depreciation deductions - this means funds that are constantly accumulated by the management of the enterprise due to the maintenance and repair of equipment. Any mechanism is subject to wear and tear (physical and mental). Therefore, the price of a product always includes the cost of its depreciation (depreciation). These funds, accumulating, constitute a separate source of financing for future investments.

Internal sources are notable for their accessibility - management can dispose of them at their discretion, without resorting to interest-bearing loans and other less profitable measures. However, very often it is impossible to do without additional financing, so it is useful to know about external sources of funds for making investments.

External sources

These are less readily available sources that are large in volume:

• loans, loans from banks, organizations and individuals;
• attracting foreign investment;
• placement of shares and bonds;
• budgetary subsidies (both from the federal and local budgets);
• gratuitous contributions from individuals and legal entities in the framework of charitable activities.

You need to work with such sources as carefully as possible, since non-repayment of loans, delinquent loans lead to negative consequences for the company and may even lead to its bankruptcy.

Where to invest

Investing in equipment almost always guarantees a profit, provided that it is used properly and in full, without significant downtime. The return on investment does not occur immediately for a number of reasons:

1. The cost of machines and mechanisms is quite large, so it takes a long time to reach the level of profitability.
2. Establishing product relations, the process of entering the market is also associated with certain time and other difficulties.
3. It is possible that unforeseen circumstances arise (equipment breakdowns, a drop in effective demand, etc.).

Therefore, before deciding on investments, the investor must carefully analyze several aspects:

1. Sphere of investments, type of fixed capital and a specific company (or several companies).
2. The volume of investments at each stage - initially, by half-year, month, year or other time periods.
3. Determining the time when the project will reach the payback stage, i.e. will become economically viable.
4. Calculation of income and net profit at different stages of enterprise development.
5. Analysis of market conditions in the industry, risk forecasting, development of action scenarios in the event of an unfavorable circumstance.

Accounting features

To determine a specific area of ​​investment, they use their own calculations, as well as statistics and expert materials from analysts, which are provided both in open sources and on a paid basis.

In this regard, market participants often ask themselves what investment in fixed assets is for statistics, i.e. how investments are reflected in statistical calculations. In the Russian Federation, such work is carried out by Rosstat, which has recently been subordinate to the Ministry of Economic Development (MED). Investments in fixed assets in Russia are calculated on the basis of complex methods; based on the results of research, a reference book is compiled, which is published annually. It is a statistical compilation that contains a large amount of data:

1. Macroeconomic indicators of development.
2. Dynamics according to direct investment data.
3. Indicators of the development of conditions for investment activities.
4. Analysis of investment resources.
5. Dynamics of investments in non-financial assets.
6. Capital investments in fixed assets with analysis of data for each type of economic activity.
7. The results of economic activity (including the commissioning of fixed assets - buildings, equipment, etc.).

Investment efficiency

Evaluation of efficiency is determined not only by the profit received. The calculations usually use complex techniques that simultaneously take into account several factors. Analysts use several statistics:

1. Expected and maximum payback period.
2. Net income at different stages of enterprise development.
3. Rate of return.
4. Return on investment, on the basis of which the profitability index is calculated.

The assessment takes place in several stages:

1. Analysis of the initial sources of funding - internal and external.
2. Profit forecasting for specific stages of project development.
3. Analysis of macroeconomic indicators (key rate, inflation, unemployment rate, etc.).
4. Analysis of risk factors.
5. Determination of the main criteria by which the effectiveness of the company and the investments made is assessed.

The main differences between investing in working capital and fixed capital

Under working capital means resources that are constantly spent for the production process, i.e. this part of the capital used in day-to-day activities in each production cycle (from the processing of raw materials to the receipt of finished products). These are raw materials, labor and other types of resources. Thus, if the fixed capital is used in production process permanently, then negotiable - one-time.

An investor can make investments in either one or another type of capital. At the same time, it is important to immediately anticipate the practical differences between these types of investments:

1. Investments in working capital pay off much faster, because their cost is immediately included in the unit of production. At the same time, investments in fixed assets reach the level of profitability much more slowly due to the high cost of equipment, buildings, vehicles, etc.
2. Another difference is the volume of investments. Since fixed assets are expensive, only medium and large investors can invest in them. However, the profit from such investments in the future is much more attractive.
3. It is also useful to know that the risks of investment in fixed assets are greater than in working capital. The fact is that the volume of investments is much larger, therefore, there are fewer opportunities to distribute risks.

Therefore, it is possible to invest large sums in production mechanisms and other types of fixed assets only after a thorough analysis of the situation. Then the investor can expect to receive a stable income for several years and even decades.

Hey !

Fixed capital investmentsattributed to capital investments. Novice investors believe that when they buy shares in a company, they are investing in means of production.

Since, in the event of bankruptcy, the share gives the right to own property (what will remain after the claims of creditors have been satisfied). In fact, these are different areas of investment.

Fixed capital investments - investments in the means of production and objects of the non-production sphere. This is money for a specific material object that creates material goods or creates conditions for the reproduction of labor. Not a trademark, securities, or letter of intent. In this case, the cost of such an object increases.

Views

The type of investment depends on the purpose of the fixed capital. It:

• investments in production assets (production lines, equipment, buildings, etc.);
• non-productive investments, when cash flows are directed to the creation and development of objects of household and socio-cultural purposes, health care I , infrastructure.
• FROM leave and structure IOC

The composition shows well the accounting, on the accounts of which fixed assets are taken into account. It:

• expenses related to land plots;
• buildings, structures and communications to them;
• technological lines, machines and equipment;
• vehicles;
• furniture, appliances, tools;
• objects of intellectual property, IT -development, computer support;
• perennial planting.

By technological structurefixed capital investments are linked:

• with the execution of construction and installation works;
• with the implementation of commissioning works;
• with the purchase of equipment, tools, inventory, protective clothing;
• with other capital works.

There is another division of investments by structure (volume):

• gross - the total investment from all sources;
• net - gross, reduced by the amount of depreciation.

Sources of financing

Investments in fixed assets are significant amounts, but without this the company simply cannot work. There are 3 sources of funding.

Attracting investors

Third-party investors are interested not only in development, they are attracted by the ability to make decisions. Therefore, large third-party investments threaten the loss of independence.

Money from investors in fixed assets comes as:

• income from the sale of own securities;
• profit earmarked for the payment of dividends, but by decision from council aimed at the development of the company;
• finances of the budgets of the Russian Federation of various levels (technical and humanitarian assistance, we often provide th free of charge).

Your funds

Your own money is often main source investments in fixed assets. It:

• capital contribution;
• retained earnings;
• depreciation;
• freed up finance as a result of the sale of assets;
• insurance compensation paid upon the occurrence of an insured event (accident, natural disaster).

Borrowed funds

Borrowing funds for investment in fixed assets is not a good idea, since you need to pay back the added value - interest. It:

• loans from commercial banks;
• loans to organizations ( Mutual fund , investment fund, etc.);
• loans f federal budgets.

PKI directions

If we consider capital investments from the point of view of reproduction, then them can be divided into 2 directions:

• investments associated with extensive development (expansion of existing facilities, construction of new ones);
• investments associated with intensive development (modernization, reconstruction).

In Russia last 5 years by volume investment in the first place is construction (57–65% of the total). The second is the purchase of new fixed assets (20-25%). And only then reconstruction and modernization (15–20%).

Accounting features

Investments are accounted for net of VAT. There are exceptions to this rule in accordance with the Tax Code of the Russian Federation (Art. 170, part 2):

• if the share capital is exempt from taxation, it is accounted for at the declared value;
• e If the purchased machines produce products for export.

Since all accounting is carried out in rubles, investments in fixed assets in foreign currency are recalculated at the exchange rate of the Bank of Russia upon the completion of the transaction.

In addition, the valuation of investments is tied to the prices of the period for which the reporting is prepared. Therefore, when accounting for investments in fixed assets, I recommend using the official b new methodology (Order of Rosstat No. 746 dated November 25, 2016, as amended and supplemented).

What determines the effectiveness of investments

When an investor determines an object for capital investment, one has to take into account:

• investment climate of the country and a particular region;
• the rate of development of the entire industry;
• performance indicators of this enterprise for the last 3-5 years (the longer the reporting period, the better).

1. They have good financial and economic performance indicators.
2. A competent management strategy made it possible to overcome the crisis years. There is an absolutely mediocre leadership, preoccupied with filling their own pocket. Then, even in the presence of a formal dictatorship, stable good indicators cannot be expected.
3. There is a backbone of professionals (there is no staff turnover).
4. Quite good material base. It will be of little use if the investment in fixed assets is actually spent on the purchase of the line, but there is no premises. Or the roof is leaking, the windows are full of holes, the plaster is falling from above. Expensive technology will be taken away for scrap.

Differences between investing in working capital and fixed capital

Working capital is intended for the purchase of goods, raw materials and materials. The main one is for the means of production. Therefore, in the short term, it is more profitable to invest in the short term. As in trade: they took money - bought a product - sold it at a profit.

Fixed capital investments imply a stable production output. The costs are higher (the cost of a beer bottling line and 100 boxes of finished products are incomparable), but in a few years, after passing the break-even point, the income from investments will steadily “feed” the investor. Of course, if the market situation does not change for the worse.

Pros and cons

If earlier investors, even ours, even foreign, were actively buying up shares, but now the trend has changed. More and more actively financiers are considering the real sector, capital investments as a profitable investment of capital.

Main advantages:

• in the ability to receive regular income for a long time;
• r The state provides benefits and preferences for investment in the real sector.

For the company it is also consultations, support of the best specialists, exchange of experience, training.

Cons:

• eh then an investment in the future, there will be no quick return;
• d It is difficult for a small and medium investor to find an investment object.

A significant disadvantage for management is the need to:

• report on the money used;
• make decisions based on the interests of the investor.

As you can imagine, this is very annoying d and rectors. In addition, there is a pre-investment verification procedure, additional reporting to control authorities. Therefore, if additional capital is needed, the head applies to a commercial bank.

Risks

If the company is chosen correctly, the investment risks are low. Although one cannot count on high profits in the near future, investments in fixed assets are a reliable investment.

Step-by-step instructions for investments in fixed assets

It is not enough to simply decide on the need for additional funds. Required:

• from leave the business plan. Competent calculations proving the return on investment;
• about limit investment fees (% of income, share in the business);
• R Place information on the market (investment funds, broker banks, etc.);
• P negotiate with investors;
• P sign a contract.

Top brokerage firms providing investment assistance

I understand that the task of finding an investment object is difficult. If you have money, but no time and knowledge, contact the best brokerage companies.

I always remind you of the importance of preparation and calculations. Any investor will want to view financial statements, check calculations and independently verify the profitability of investments. So get your financial statements in order, pay off large accounts receivable, and develop a credible business plan.

Do not refuse the help of companies that specialize in finding investors. They are often asked the question: “Where to invest? ", Therefore the right in you will be found faster.

Investment strategies

Investing in fixed assets is similar to buying shares of corporations and small companies in the US market:

• the decision is made on the basis of financial statements;
• all the money is not invested;
• the probability of growth is calculated.

Alternatives

An alternative, especially for a medium and small investor, can be considered:

• purchase of securities for a long term;
• purchase of government bonds;
• contract with an investment fund (let it work, but at sea);
• organization own business.

Fixed capital investments are determined by investments for a long time period, the purpose of which is to make a profit. They can be expressed in the form of any operation aimed at managing the resources of a business entity to increase real capital. Financial investments of this nature may be limited in time, but the allocated period of use should be sufficient to obtain the planned results. The modernization of labor results or an increase in production volumes can be facilitated not only by the invested cash, but also securities, property rights and technology.

Fixed capital investments

Concept

The property of a business entity, expressed in a certain value dimension, is identified as fixed capital. It is formed by investment in an enterprise at the expense of acquired values ​​necessary to ensure production and profit. Fixed assets are assets that are tangible and intangible. These include movable and immovable property, equipment, land, assets, investments in projects, counterparties' debts, grants and permits.

Financial investments used for purchases and for the formation or expansion of fixed assets are defined as investments in fixed assets. What is it, and what opportunities do they reveal?

Additional business financing provides an opportunity to modernize equipment, purchase movable and immovable property, necessary inventory, tools, carry out construction and repair work. Outwardly, the investment process looks like the transfer of rights to the values ​​of one subject to another or the result of financing one enterprise to another cell of society.

To ensure the effectiveness of the investment, it is necessary to choose the right source of financing and objectively assess the increase in investment, which can only be ensured with full and competent separate accounting by industry and economic sector. The effectiveness of the contribution depends on the amount of investment in fixed assets and on the rationality of the use of values.

The role of investment

The purpose of any business entity is to make a profit.

For its implementation, the enterprise must be competitive. This status can be achieved by using innovative technologies in production that affect the qualitative and quantitative characteristics of labor results.

What is capital investment

The creation of an unusual product that clearly stands out from other offerings contributes to increasing profitability and achieving an advantage over competitors. The implementation of any production innovation requires additional funding. With its help, it is possible to improve new technologies, develop and put into production a new product, which will ensure the commercial efficiency of the entity, its viability and partner attractiveness.