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Analysis of Financial Indicators in Changed Economic Conditions on the Example of a Service Company
No full textLõputöö eesmärk oli hinnata teenindusettevõtte finantsnäitajaid muutunud majandustingimustes ja tuua analüüsi põhjal välja järeldused toimunud muutuste kohta ning teha ettepanekud jätkusuutlikkuse tagamiseks. Eesmärgi saavutamiseks koostati lõputöö metoodika, anti ülevaade finantsnäitajate analüüsi teoreetilistest alustest toetudes erialasele kirjandusele, analüüsiti teenindusettevõtte 2019-2022. majandusaasta aruannete alusel finantsnäitajaid ja toodi analüüsi põhjal järeldused toimunud muutuste kohta ning tehti ettepanekuid jätkusuutlikkuse tagamiseks.
Andmete analüüsimiseks kasutati horisontaalanalüüsi, vertikaalanalüüs ja suhtarvude analüüsi meetodeid. Baasaastaks oli valitud 2019. aasta, mis eelnes kriisidele.
Analüüsi tulemustest selgus, et Covid-19 kriisil ja Venemaa sõjal Ukrainas on oluline seos finantsmajandusliku tulemuste langusel. 2020. aastal, kui kehtestati piirangud Eestis ja maailmas, ei saanud teenindusettevõte oma teenust müüa ja sellel aastal langesid kõige enam kõik bilansi aktiva näitajad ning kasumiaruandes müügitulu. 2021. aastal sai ettevõte kriisiabi ja toetusi ning see aitas kasvavate kuludega toime tulla kuna müügitulu oli endiselt samal tasemel nagu oli 2020. aastal. Vaid 2022. aastal jõudis müügitulu kriisieelsele tasemele, kuid kasvavate energiakulude tõttu ei suutnud ettevõte töötada kasumlikult.
Horisontaalanalüüsi tulemustest selgus, et 2020. aastal langesid ettevõtte varad 36,8% ja kohustised 9,97%. Müügitulu langes 38,04%, kaubad, toore, materjal ja teenused langesid 21,56% ja tööjõukulu 21,05% võrreldes baasaastaga. 2021. aastal kasvasid varad kokku 33,3% võrreldes 2020. aastaga. Kasvasid ka kohustised 36,49%. Müügitulu vähenes võrreldes 1,21%, kuid muud äritulud kasvasid 235,13% kuna ettevõte sai kriisiabi ja toetusi. Kaubad, toore, materjal ja teenused kulud kasvasid 6,19% ja tööjõulud kahanesid 7,09% võrreldes 2020. aastaga. 2022. aastal kasvasid varad kokku 32,5%, kohustised kasvasid 32,61% võrreldes 2021. aastaga. 2022. aastal müügitulu kasv oli 54,74%, muud ärikulud langesid 66,38%, kaubad toore, materjal ja teenused kulud kasvasid 42,42% ja tööjõukulud kasvasid 29.85%. Nelja aasta tulemustest on näha, et 2020. aastal avaldasid piirangud kõige enim mõju. Tänu toetustele ja kriisiabile suutis 2021. aastal ettevõte tegevust jätkata. Energiakriisist tulenev hinnatõus on enim mõjutanud 2022. aasta majandustulemusi.
Bilansi käibevarad moodustasid suurema osakaalu, kui põhivarad. Vaid 2020. aastal kui käibevarad langesid oluliselt oli põhivarade osakaal suurem. Passivad oli läbi uuritava perioodi vältel lühiajaliste kohustiste osakaal suurim. Kasumiaruandest oli näha, et kaubad, toore, materjal ja teenused moodustasid 50% ja enam kogu kuludest. Sellele järgnesid tööjõukulud, mille osakaal oli vahemikus 33,27%-42,82%.
Lühiajalise maksevõime analüüsist selgus, et teenindusettevõttel oli terve perioodi lühiajalised kohustised käibevaradest suuremad ning ettevõttel võib olla raskusi oma lühiajaliste kohustiste täitmisega. Covid-19 piirangute algul langesid näitajad veelgi, ettevõte oli suurtes raskustes. 2021. aastal sai ettevõte kriisiabi ja toetusi, mis aitas kasvavate kuludega toime tulla kuid ettevõttel oli siiski raskusi lühiajaliste võlgnevuste tasumisega. 2022. aastal tõusis küll müügitulu, kuid sõja tingimustes kasvavate energiakulude tõttu ei suutnud ettevõte välja tulla makseraskustest.
Pikaajalise maksevõime tulemused kinnitasid, et tulemused on halvenenud kriiside ajal. Langus oli tingitud sellest, et ettevõte töötas kogu kriiside perioodi kahjumlikult. Pikaajalise maksevõime analüüsi tulemustest on näha, et kriiside tingimustes tekkis 2020. aastal ettevõttele maksuvõlg ja 2021. aastal võeti pikaajalist laenu, et olukorraga toime tulla.
Efektiivsuse analüüsi tulemuste põhjal saab teha mitmeid järeldusi. Debitoorse võlgnevuse põhjal saab järeldada, et kliendid maksavad ettevõttele kohe teenust tarbides ja seeõttu olid debitoose võlgnevuse käibevälted ei ole suures osas muutnud. Covid- 19 tingimustes aastatel 2020 ja 2021 langes koguvarade käibekordaja, mis näitab et ettevõtte efektiivsus on oluliselt langenud. Samuti halvenes ka põhivarade käibesiduvus ja varude käibekiirus. Olukord läks paremaks 2022. aastal, kui tõusis koguvarade käibekordaja kriiside eelsele tasemele, see näitab, et ettevõte suutis taastada tööefektiivsuse. Ka varude käibevälde ja põhivarade käibesiduvus tõusis 2022. aastal. Selle põhjal võib järeldada, et energiakriisil ei ole seost. Vaid lühiajaliste kohustiste käibevälde näitab, et majandus on ebastabiilne olnud terve perioodi jooksul ja tarnijad on olnud ebakindlad arvete tasumise osas.
Tasuvuse analüüsi põhjal saab järeldada, et kriisidel on tugev seos ettevõtte rentaablusele. Kui kriisieelsel ajal töötas ettevõte kasumlikult, siis kogu kriiside perioodi vältel teenis ettevõte kahjumit. Kõik tasuvuse näitajad langesid oluliselt kriiside tingimustes.
Eelpool toodud analüüsi tulemuste kohta teeb autor teenindusettevõtte juhtkonnale ettepanekud jätkusuutlikkuse tõstmiseks:
• võimalusel soetada põhivara pikaajalise laenuga;
• vaadata üle põhivarade arvele võtmise poliitika ja amortisatsioonimeetodid;
• vaadata üle debitoorse võlgnevuse krediidipoliitika;
• optimeerida varude mahu arvestust, et liiga palju varusid ei jääks lattu seisma;
• küsida tarnijatelt paremaid krediiditingimusi arvete tasumiseks;
• vaadata üle müügihinnad ja kulud, kas on võimalik kulusid vähendada või müügihinda tõsta.
Uuringu tulemuste põhjal võib väita, et Covid-19 kriisil ja Venemaa sõjal Ukrainas on omavahel seos teenindusettevõtte finantsmajanduslikule olukorrale.
Autor leiab, et lõputöö eesmärk sai täidetud.The title of the thesis is: “Analysis of financial indicators in changed economic conditions on the example of a service company.”
The People's Republic of China experienced an outbreak of a highly fatal viral disease in 2019. China responded to this situation with unexpectedly stringent measures, including movement restrictions and a complete prohibition on leaving home, effectively imposing a full quarantine. The World Health Organization declared an international emergency on January 30, 2020, marking the onset of the Covid-19 pandemic, which lasted three years and three months and officially ended on May 5, 2023. The Covid-19 pandemic has been one of the causes of economic uncertainty and vulnerability, putting pressure on economies. This situation is further exacerbated by Russia's war in Ukraine, resulting in heavier loss of human lives, increased economic difficulties, and an energy crisis in Europe. The state of emergency accompanying the Covid pandemic and the energy crisis place companies in a challenging situation.
For companies, effective management of cash flows and decisions to maintain liquidity are crucial. Understanding the company's cash needs is important for ensuring sustainability in a volatile environment.
The aim of the thesis is to assess the financial indicators of a service company in changed economic conditions and to draw conclusions based on the analysis of the changes that have occurred, as well as to make proposals for ensuring sustainability.
To achieve the aim of the thesis, the following tasks have been set:
1) Develop the methodology of the thesis;
2) Provide an overview of the theoretical basis of financial indicators analysis, based on relevant literature;
3) Analyze the financial indicators based on the service company's financial statements for the years 2019-2022;
4) Draw conclusions based on the analysis of the changes that have occurred and make proposals for ensuring sustainability.
The analysis results revealed a significant correlation between the Covid-19 crisis and the military conflict in Ukraine and the decline in financial-economic performance. In 2020, when restrictions were imposed in Estonia and worldwide, the service company could not sell its services, leading to a decrease in all balance sheet asset indicators and sales revenue in the income statement. In 2021, the company received crisis aid and subsidies, which helped to cope with rising costs as sales revenue remained at the same level as in 2020. Only in 2022 did sales revenue reach pre-crisis levels, but due to increasing energy costs, the company could not operate profitably.
Based on the analysis results, the author proposed the following recommendations to the management of the service company to enhance sustainability:
• Consider acquiring fixed assets through long-term loans whenever possible;
• Review the policy for recognizing fixed assets and depreciation methods;
• Review the credit policy for accounts receivable;
• Optimize inventory management to avoid excessive stockpiling;
• Negotiate better credit terms with suppliers for invoice payments;
• Review selling prices and costs to identify opportunities for cost reduction or price increases.
Based on the research results, it can be concluded that there is a correlation between the Covid-19 crisis and the conflict in Ukraine and the decline in the financial-economic performance of the service company
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Get PDFWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
koamabayili/VECTRON-author-checklist: VECTRON author checklist
No full textWe have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used
Author-wise bibliometric analysis based on entropy.
No full textAuthor-wise bibliometric analysis based on entropy.</p
Author Under Sail The Imagination of Jack London, 1893-1902
No full textIn Author Under Sail, Jay Williams offers the first complete literary biography of Jack London as a professional writer engaged in the labor of writing. It examines the authorial imagination in London's work, the use of imagination in both his fiction and nonfiction, and the ways he defined imagination in the creative process in his business dealings with his publishers, editors, and agents. In this first volume of a two-volume biography, Williams traverses the years 1893 to 1902, from London's "Story of a Typhoon" to The People of the Abyss. The Jack London who emerges in the pages of Author Under Sail is a writer whose partnership with publishers, most notably his productive alliance with George Brett of Macmillan, was one of the most formative in American literary history. London pioneered many author models during the heyday of realism and naturalism, blurring the boundaries of these popular genres by focusing on absorption and theatricality and the representation of the seen and unseen. London created an impassioned, sincere, and extremely personal realism unlike that of other American writers of the time. Author Under Sail is a literary tour de force that reveals the full range of London as writer, creative citizen, and entrepreneur at the same time it sheds light on the maverick side of machine-age literature.Intro -- Title Page -- Copyright Page -- Dedication -- Contents -- Acknowledgments -- Introduction -- 1. Spirit Truth -- 2. From Absorption to Theatricality and Back Again -- 3. "I Will Build a New Present" -- 4. Sons as Authors -- 5. Fathers as Publishers -- 6. The Daughter as Author -- 7. Lovers as Authors -- 8. At Sea with the Family -- 9. Yellow News, Yellow Stories -- 10. The Return Home -- Notes -- Bibliography -- Index -- About Jay WilliamsIn Author Under Sail, Jay Williams offers the first complete literary biography of Jack London as a professional writer engaged in the labor of writing. It examines the authorial imagination in London's work, the use of imagination in both his fiction and nonfiction, and the ways he defined imagination in the creative process in his business dealings with his publishers, editors, and agents. In this first volume of a two-volume biography, Williams traverses the years 1893 to 1902, from London's "Story of a Typhoon" to The People of the Abyss. The Jack London who emerges in the pages of Author Under Sail is a writer whose partnership with publishers, most notably his productive alliance with George Brett of Macmillan, was one of the most formative in American literary history. London pioneered many author models during the heyday of realism and naturalism, blurring the boundaries of these popular genres by focusing on absorption and theatricality and the representation of the seen and unseen. London created an impassioned, sincere, and extremely personal realism unlike that of other American writers of the time. Author Under Sail is a literary tour de force that reveals the full range of London as writer, creative citizen, and entrepreneur at the same time it sheds light on the maverick side of machine-age literature.Description based on publisher supplied metadata and other sources.Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, YYYY. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries
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