1

BAZELE TEORETICO-METODOLOGICE
ALE ANALIZEI ECONOMICO-FINANCIARE
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2

1.1

1.1.1
a

1.2

1.1.2

1.1.3

1.2.1
d

2.1

Elemente

2.2

2.3

3.1

Factori de grad I

3.2

Factori de grad II

1.2.2
f

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ale analizei economico-financiare
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1)

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grupa n 2 categorii:
1) metode ale analizei calitative;
2) metode ale analizei cantitative.
1)
1.1
1.2
1.3
1.4
1.5
1.6

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rezultatele unor ntreprinderi din DOWH UL QRUPDWLYH VWDQGDUGH etc.
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iu;
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datelor, ele trebuind

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1.4 Modelarea fenomenelor economice

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economico-matematic, exprimat sub form

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Tipologia modelelor:

modele imitative sau iconice;

modele analogice;

modele simbolice.

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GH

vQ

HFXD LL

Dintre modelele analogice, graficele sunt frecvent utilizate n teoria

SHQWUX YL]XDOL]DUea fenomenelor economice

L SUDFWLFD HFRQRPLF

Tipuri de grafice:
o cronograma;
o diagrama (diagrama cu 2 variabile, sectorial , cu coordonate
polare, cu bare simple sau asociate)
o KLVWRJUDPD VDX WDEHOXO GH SHQHWUD LH etc.
Modelele simbolice

VH

ED]HD]

SH

XWLOL]DUHD

VLPEROXU

ilor (litere,
,

FLIUH vQ UHSUH]HQWDUHD IHQRPHQHORU L D UDSRUWXULORU GLQWUH HOH Q JHQHUDO

acestea LDX IRUPD

economico-ILQDQFLDU
PRGHOH

GH

XQRU

FRUHOD LH

HFXD LL

SUHYDOHD]

VDX

LQHFXD LL

PRGHOHOH

GHWHUPLQLVWH

PDWHPDWLFH

VLPEROLFH

DOHDWRULL

DQDOL]D

Acestea pot fi:

DGLWLYH

PXOWLSOLFDWLYH

EDODQ LHUH GH UDSRUW FRPELQDWH

0RGHOHOH WUHEXLH DVWIHO FRQVWUXLWH vQFkW V
GLQWUH IDFWRUL L IHQRPHQH L V

formal-PDWHPDWLF
2)

L FHD ORJLF

0HWRGH GH DQDOL]

$FHVWH PHWRGH

H[LVWH FRQFRUGDQ

-econoPLF

OHJ WXULORU

GHSOLQ

vQWUH OHJ WXUD

FDQWLWDWLY

SHUPLW FRPHQVXUDUHD DF LXQLL ILHF UXL HOHPHQW VDX

IDFWRU DVXSUD UH]XOWDWXOXL DQDOL]DW SULQ FDUH VH G

VHQV

H[SULPH FRUHFW OHJ WXUD

FDX]DOH

GH

UHOLHID

IDFWRULL

FX

ILQDOLWDWH GH P ULPH L
DF LXQH

PDL

LPSRUWDQW

DVXSUD UH]XOWDWHORU L GH D DSUHFLD P VXUD vQ FDUH DX IRVW IRORVLWH UHVXUVHOH

ntreprinderii.
3HQWUX VHSDUDUHD LQIOXHQ HORU IDFWRULORU VH XWLOL]HD]
vQ IXQF LH GH IRUPD PDWHPDWLF

SH FDUH R vPEU

ac

GLIHULWH PHWRGH

UHOD LLOH GLQWUH IDFWRUL

Metode utilizate:
2.1. Indicatorii economico-financiari.
2.2. Indicii FD PHWRG GH H[SULPDUH D GLQDPLFLL IHQRPHQXOXL
economico-financiar.
2.3. &RHILFLHQ LL GH VWUXFWXUD HFKLOLEUX HILFLHQ .
2.4. Ratele (ratio sau rating).
2.5. Tehnicile scorurilor (scoring) ca metod
a analizei
discriminante.
2.6. 0HWRGD VXEVWLWXLULORU vQ ODQ PHWRGD LWHUDULL.
2.7. Metoda calcului matricial.

2.8. Metoda ABC.

2.9. Metodele cercet rii opera ionale
jocurilor, simularea etc.).
2.10. Metodele analizei regresionale.
2.11. Metodele sociologice.

2.1. Indicatorii economico-financiari -

(programare,

tehnicile

IRUPD GH H[SULPDUH FRQFHQWUDW

D LQIRUPD LHL

Exemplu:
CA = M +

qv p ,

unde:
CA = cifra de afaceri;
M P UIXUL YkQGXWH
qv = produsele vndute;
p
SUH XO GH YkQ]DUH (exclusiv TVA).
2.2. Indicii, UHSUH]LQW R PHWRG IUHFYHQW XWLOL]DW vQ DQDOL]D IHQRPHQHORU
economico - ILQDQFLDUH &X DMXWRUXO ORU VH VWDELOHWH GLQDPLFD ID GH R ED]
IL[

VDX vQ ODQ  VH FRQVWUXLHVF

performan HORU D FDSDFLW

2.3.

&RHILFLHQ LL
5HSUH]LQW

ULWPXUL

VH IDF DSUHFLHUL DVXSUD HYROX LHL

LL VLVWHPXOXL GH D HYROXD vQWU

(ratele) de structur

R PHWRG

-un context dat.

 HFKLOLEUX L HILFLHQ

GH PDUH XWLOLWDWH

n diagnosticarea fenomenelor

QWUHSULQGHULL D SHUIRUPDQ HORU ORU

&RILFLHQ LL

GH

VWUXFWXU

VH

GHWHUPLQ

SUL

n raportarea unei

componente la ansamblul fenomenului cercetat:

Ki =

ei
;
ei

unde:
Ki FRHILFLHQW GH VWUXFWXU ;
ei = elementele componente ale fenomenului, rezultatului.

Coeficien

LL GH HILFLHQ

FX UH]XOWDWHOH RE LQXWH

UH]XOW

GLQ FRPSDUDUHD HIRUWXULORU GHSXVH

sau invers:
Ke =

Efect
;
Efort

Efort
Efect

Ke =

unde:
Ke

FRHILFLHQW GH HILFLHQ

Exemplu:
Rf =

Pn
100 ,
K pr

unde:
Rf UDWD UHQWDELOLW LL ILQDQFLDUH a capitalului propriu;
Pn = profitul net;
Kpr= capitalul propriu.
Coeficien

LL

de echilibru

VH GHWHUPLQ

FD

raport QWUH

GRX

P ULPL

FRPSDUDELOH FX VHPQLILFD LH vQ WHUPHQL GH HFKLOLEUX HFRQRPLF VDX ILQDQFLDU

De exemplu:

Kp

K=

Kp + I

unde:
K = coeficientul (rata) autonomiei financiare;
Kp = capitalul propriu;
I = mprumuturile SH WHUPHQ PHGLX L OXQJ
2.4. Ratele
5HSUH]LQW

XQ

UDSRUW

vQWUH

GRX

P ULPL

HFRQRPLF (OH VXQW ODUJ U VSkQGLWH vQ OLWHUDWXU

analizei economico-ILQDQFLDUH
ntreprinderilor.
De exemplu:
Rc =

GLDJQRVWLF ULL

qp qc 100 ,
qc

FRPSDUDELOH

L SUDFWLF
L

ORJLFRa din domeniul

HYDOX ULL

DFWLYLW

LL

unde:
Rc UDWD UHQWDELOLW
T

LL UHVXUVHORU FRQVXPDWH

FDQWLWDWHD YkQGXW 

c = costul pe unitate de produs;

S

SUH XO PHGLX GH YkQ]DUH SH SURGXV

Interpretarea ratelor trebuiH

termen al raportului.
5DWHOH FD PHWRG

I FXW

FX SUXGHQ

vQ IXQF LH

de fiecare

GH P VXUDUH D IHQRPHQXOXL HFRQRPLFR

-financiar

pot fi grupate n:

UDWH GH VWUXFWXU ;
rate de gestiune;
rate de echilibru;
UDWH GH HILFLHQ
.

2.5. Tehnicile scorurilor

discriminante
6FRUXO

discriminant
UHJXO

PHWRGD
FX

FDUH

VH

VFRULQJ
RSHUHD]

vQ E QFL 5HSUH]LQW

de indicatori.

(scoring),

ca

UHSUH]LQW
vQ

PHGLXO

R IXQF LH FRQVWUXLW

metode
R

PHWRG

H[WHUQ

DO

ale

analizei

GH

DQDOL]

vQWUHSULQGHULL

GH

SH ED]D XQXL DQXPLW QXP U

'H H[HPSOX XQD GLQ IXQF LLOH VFRU FX FDUH RSHUHD]

%DQFD

)UDQ HL XWLOL]HD]

8 LQGLFDWRUL LDU YDORULOH HL DX OD ED] REVHUY UL vQ WLPS SH

un nXP U GH DQL L eVWH DSOLFDELO vQWUHSULQGHULORU FX SHVWH  GH VDODULD L
3ULPHOH OXFU UL SULYLQG Petoda scorurilor au fost realizate n S.U.A.,
vQWUH DQLL  L  LDU vQ )UDQ D VSUH VIkULWXO DQLORU 
)XQF LD VFRU = DUH IRUPD

Z = ax1 + bx2 +..+ zxn ,

unde:
x1 ,.. xn = ratele implicate n calcul;
a,b,......z = coeficien ii de ponderare.
Aceste metode se folosesc preponderent n investigarea echilibrului
financiar, unde nu substituie alte metode, FL OH FRPSOHWHD] 
6FRUXO

FDOFXODW

OD

QLYHOXO

XQHL

vulnerabilitate al acesteia, punnd n eviGHQ

DQDOL]D FRPSDUDWLY

ILUPH

LQGLF

JUDGXO

existen D GLVIXQF LRQDOLW

GH
LORU

D GLQDPLFLL VFRUXOXL LQGLYLGXDO FX HYROX LD FRQVWDWDW

OD

SUHGLVSR]L LD ILUPHL OD ULVF vQWU

-un

nivelul sectorului de activitate reflect

DQXPLW PHGLX FRQFXUHQ LDO

2.6. Metoda substituirilor n lan (metoda iter rii)

3HUPLWH FXDQWLILFDUHD FRQWULEX LHL GLIHULWHORU HOHPHQWH VDX IDFWRUL OD
IRUPDUHD L PRGLILFDUHD
6H DSOLF

rezultatului ID

GH XQ QLYHO GH FRPSDUD LH

vQ FD]XO vQ FDUH UHOD LLOH GH WLS GHWHUPLQLVW GLQWUH UH]XOWDW L

elemente sau factorii de

SURSRU LRQDOLWDWH GLUHFW

LQIOXHQ

DX

IRUPD

GH

SURGXV

VDX

UDSRUW

VDX LQYHUV  ,WHUDUHD VH IDFH FX UHVSHFWDUHD D 

principii:
a) DH]DUHD IDFWRULORU VH IDFH vQ RUGLQHD FRQGL LRQ rii lor economice, ceea
FH vQVHDPQ
RUGLQHD GH DQDOL]  DGLF
nti factorii caQWLWDWLYL L DSRL
FHL FDOLWDWLYL GDF

DSDU IDFWRULL GH VWUXFWXU

HL LQWHUYLQ LPHGLDW GXS

cei cantitativi);
b) substituirile se fac succesiv;
c) XQ IDFWRU VXEVWLWXLW VH PHQ LQH FD VWDUH vQ RSHUD LLOH XOWHULRDUH
De exemplu, ntr-un model de 3 factori, fenomenul cap W H[SUHVLD
Y = f (x) respectiv y = f (x1 , x2 , xn)
Pe = A e

Exemplu:

CA Pe

A e CA

y = x1 x 2 x 3 ,

$GLF 

unde:
= active de exploatare;

Ae

FLIUD GH DIDFHUL vQ SUH XUL GH YkQ]DUH H[FOXVLY 79$

CA

= profitul din exploatare aferent cifrei de afaceri.

Pe

Cazul teoretic:
I) Modelul n forma unui produs de mai mul i factori:
R = a bc

unde:
R

= rezultat;

a,b,c = factori de influen

a)

Q P

ULPL DEVROXWH 

R 0 = a 0 b 0 c0
R = R1 R 0

n care:

6HSDUkQG

LQIOXHQ D

ILHF UXLD

rezultatului ( R  UHOD LLOH VXQW XUP

a) LQIOXHQ D IDFWRUXOXL a:

R1 = a1 b1 c1
GLQ

FHL

IDFWRUL

DVXSUD

PRGLILF ULL

WRDUHOH

a1 b 0 c 0 a 0 b 0 c 0 = (a1 a 0 ) b 0 c 0

b)

LQIOXHQ D IDFWRUXOXL

b:

a1 b1 c 0 a1 b 0 c 0 = a1 (b1 b 0 ) c 0

c)

LQIOXHQ D IDFWRUXOXL

c:

a1 b1 c1 a1 b1 c0 = a1 b1 (c1 c 0 )

b)

Q P

ULPL UHODWLYH

6H DUH vQ YHGHUH IRUPXOD JHQHUDO

IR =

i 0 i 2 i 3 i n
100n 1

D SURGXVXOXL GH LQGLFL

Q FD]XO GDW UH]XOW 

IR =

R1
i i i
100 = a b c
R0
1002

unde:
IR = indicele rezultatului analizat;
i1, i2,..., in = indicele factorului respectiv;
IR = IR - 100.

a)

LQIOXHQ D IDFWRUXOXL

b)

LQIOXHQ D IDFWRUXOXL

a:

ia - 100

b:
ia ib
i (i b 100)
ia = a
100
100
c) LQIOXHQ D IDFWRUXOXL c:
i a i b i c i a i b i a i b (i c 100)

=
100
100 2
100 2

II) Modelul n forma unui raport dintre doi factori:

R=

II.1)

a
,
b

unde: a = factor cantitativ;

b = factor calitativ.

Q P

a)

ULPL DEVROXWH

LQIOXHQ D IDFWRUXOXL

a:
a1 a 0
(a a 0 )

= 1
b0 b0
b0
b) LQIOXHQ D IDFWRUXOXL b:
1
a1 a1
1

= a1
b

b1 b 0
1 b0
Q P

ULPL UHODWLYH

IR =

a)

R1
100 =
R0

LQIOXHQ D IDFWRUXOXL

ia
100
ib

a:

i a 100

b)

LQIOXHQ D IDFWRUXOXL

b:

ia

100 i a
i

II.2) R =

a
,
b

unde:

a = factor calitativ;
b = factor cantitativ.

Q P

a)

ULPL DEVROXWH

LQIOXHQ D IDFWRUXOXL

b:

1
a0 a0
1

= a0
b b
b1 b 0
0
1

b)

LQIOXHQ D IDFWRUXOXL

a:

a1 a 0 ( a1 a 0 )

=
b1 b1
b1

Q P

ULPL UHODWLYH

IR =

ia
100
ib

IR = IR 100
a)

LQIOXHQ D IDFWRUXOXL

b:

100 2
100
ib

b)

LQIOXHQ D IDFWRUXOXL D

ia
100 2
x 100
ib
ib
0HWRGD VH DSOLF
H[LVW

UHOD LL GH VXP

L vQ FD]XO vQ FDUH vQWUH YDULDELOHOH XQXL PRGHO

LVDX GLIHUHQ

0HWRGD EDODQWLHU

R = a + b c;
De exemplu :
unde:
D
YROXPXO YkQ]
Si
VWRF LQL LDO
I
LQWU UL
Sf
= stoc final.

D = Si + I Sf,
ULORU

,QIOXHQ HOH IDFWRULORU VXQW XUP WRDUHOH

 ,QIOXHQ D VWRFXOXL LQL LDO

Si1 Si 0
 ,QIOXHQ D LQWU ULORU

I1 I 0

3. InIOXHQ D VWRFXOXL ILQDO

Sf1 Sf 0

):

2.7. Metoda calculului matricial

6H DSOLF
VDX

UDSRUW

vQ FD]XO H[LVWHQ HL XQRU UHOD LL GHWHUPLQLVWH GH WLS SURGXV

vQWUH

IHQRPHQXO

LQIOXHQ HL IDFWRULORU

DQDOL]DW

IDFWRULL

GH

LQIOXHQ

6HSDUDUHD

LQH VHDPD GH RUGLQHD GH LQWHUFRQGL LRQDUH D IDFWRULORU

nt ULQG SULQFLSLLOH PHWRGHL VXEVWLWXLULORU vQ ODQ  6H SRDWH DSOLFD vQ WRDWH

domeniile analizei economice, iar utilizarea calculatoarelor electronice i
confer XQ PDUH JUDG GH GHWDOLHUH H[DFWLWDWH L HILFLHQ .
2.8. Metoda ABC
,QL LDWRUXO DFHVWHL PHWRGH HVWH 3DUHWR 6H PDL QXPHWH L PHWRGD
 L SURSXQH R DQDOL]

rezultat n func LH

VHOHFWLY

D FRPSRQHQWHORU XQXL IHQRPHQ VDX

GH SR]L LD ORU vQ FDGUXO vQWUHJXOXL 6H XWLOL]HD]

SHQWUX

DQDOL]D YkQ] ULORU SH SURGXVH FDWHJRULL GH FOLHQ L HWF

Q FD]XO VWUXFWXULL YkQ] ULORU SH SURGXVH FXUED WHRUHWLF

presupune

H[LVWHQ D D  VXEJUXSH FX FDUDFWHULVWLFL VSHFLILFH

10- GLQ QXP UXO GH SURGXVH VDX P UIXUL UHSUH]LQW -70% din
cifra de afaceri (zona A); deci o subgruS FDUH FXSULQGH IRDUWH SX LQH
SURGXVH VDX P UIXUL GDU FDUH UHDOL]HD]
o mare parte din cifra de
afaceri;
25- GLQ QXP UXO GH SURGXVH VDX P UIXUL YkQGXWH GDX -30%
din cifra de afaceri (zona B);
65- GLQ QXP UXO GH SURGXVH VDX P UIXUL GDX -15% din cifra de
afaceri ]RQD & GHFL GRX VXEJUXSH FDUH GDX PDL SX LQ GH MXP WDWH
din cifra de afaceri dar FDUH FRQFHQWUHD] PDMRULWDWHD SURGXVHORU
comercializate.
$FHDVW
FXUE
WHRUHWLF
DUH YDORDUH DWW VWDWLVWLF
FkW L LQGLFDWLY 

$VWIHO FXUED UHDO

VH FRPSDU

FX FHD WHRUHWLF

L VH GHSULQG FRQFOX]LLOH

respective.
2.9. Metode ale cercet rii opera ionale
6H

XWLOL]HD]

vQ

DGRSWDUHD

GHFL]LLORU

vQ

FD]XO

QXPHURL IDFWRUL FDUH WUHEXLH DYX L vQ YHGHUH  &ODVLILFDUH

vQ

FDUH

LQWHUYLQ

PHWRGH DOH FHUFHW ULL RSHUD LRQDOH GHWHUPLQLVWH SURJUDPDUH OLQLDU 

programare dinamic , teoria deciziei, teoria jocurilor, metoda

drumului critic);

PHWRGH SUREDELOLVWLFH /DQ XULOH 0DUNRY SURFHVHOH 3RLVVRQ WHRULD

metode simulative (metoda Monte Carlo, modelul dinamic al

VLPXO ULL JHVWLRQDUH.

ILUHORU GH DWHSWDUH PHWRGD 3HUW

2.10. Metoda analizei regresionale

6H

XWLOL]HD]

vQ

FD]XO

UHOD LLORU

GH

WLS

VWRFDVWLF

GH

WLS

OLQLDU

KLSHUEROLF SDUDEROLF H[SRQHQ LDO

2.11. Metodele sociologice

&X DMXWRUXO DFHVWRU PHWRGH VH SXQ vQ HYLGHQ

cauzele

IDFWRULL LQGLUHF L VDX

SUH]XPWLYH FHHD FH FRQGXFH OD RE LQHUHD GH LQIRUPD LL GH QXDQ

HVHQ LDOH

SHQWUX

UHDOL]DUHD

XQXL

GLDJQRVWLF

FRUHFW

HILFLHQW

sociologice cele mai utilizate n analiza microeconomic

chestionarului L cea a interviului.

0HWRGHOH

sunt metoda

1.5. Interpretarea rezultatelor

'XS
IDFWRULORU

FRPHQVXUDUHD

DVXSUD

FXDQWLILFDUHD

UH]XOWDWXOXL

HFRQRPLF

IXQF LH GH VHPQLILFD LD ORU HFRQRPLF

LQIOXHQ HORU

VH

HOHPHQWHORU

LQWHUSUHWHD]

VDX

UH]XOWDWHOH

vQ

1.6 Generalizarea sau evaluarea rezultatelor

$FHDVWD UHSUH]LQW

R PHWRG

FDOLWDWLY

GH UHXQLUH vQWU

-un ansamblu
coerent a concluziilor rezultate din studiul factorial-cauzal al fenomenelor;
VH XWLOL]HD]

vQ UDSRUWXO GH DQDOL]  VWXGLLOH GH IH]DELOLWDWH L GH HYDOXDUH HWF

1.3.4 Sistemul de infRUPD LL

economice
,QIRUPD LD

UHSUH]LQW

economico-ILQDQFLDU

PDWHULD

$QDOL]D

VH

SUHPLV

SULP

ED]HD]

SH

GH

HIHFWX

ED]

LQIRUPD LL

ULL

DQDOL]HL

SHQWUX
L

DQDOL]D

IXUQL]HD]

OD

UkQGXO HL LQIRUPD LL QHFHVDUH vQ SURFHVXO PDQDJHULDO

prRYLQH GLQ GRX VXUVH LPSRUWDQWH3:

1. Surse interne ntreprinderii SULQFLSDOHOH LQIRUPD LL LQWHUQH
,QIRUPD LD HFRQRPLF
VSHFLDO
FRQWXO

ILQDQFLDUH
GH

SURILW

VH
L

RE LQ

GLQ

SLHUGHUL

GRFXPHQWHOH
DQH[H

$OWH

GH

VLQWH] 

VXUVH

vQ

ELODQ XO

LQWHUQH

VXQW

contabilitatea de gestiune, contractul de management, programele de

IDEULFD LH QRUPHle OHJLVOD LD ILVFDO L HFRQRPLF etc.
2. Surse externe ntreprinderii  FXP DU IL LQIRUPD LL SULYLQG
FRQMXQFWXUD SLH HL LQWHUQH L LQWHUQD LRQDOH UDWD LQIOD LHL GLQDPLFD

01LFXOHVFX  'LDJQRVWLF JOREDO VWUDWHJLF  (GLWXUD (FRQRPLF

 %XFXUHWL  

PIB, rata do-bnzii,

SUH XO

UHVXUVHORU

HWF

SHUIRUPDQ H

DOH

FRQFXUHQ HL SURJUHVXO WHKQLF vQ UDPXUD UHVSHFWLY  ,QIRUPD LLOH VXQW

asigurate prin:
reviste, cotidiene, magazine, periodice;

FRORFYLL FRQIHULQ H FRQJUHVH

VDORDQH H[SR]L LL WkUJXUL

centre de documentare, breveWH GH LQYHQ LL

RUJDQLVPH IXUQL]RDUH GH LQIRUPD LL GH VLQWH]

de informare

WLLQ LILF

DJHQ LL UHJLRQDOH

L WHKQLF  FDPHUH GH FRPHU

L LQGXVWULH

LQVWLWXWH QD LRQDOH GH VWDWLVWLF  RUJDQLVPH GH FRQVXOWDQ

 DJHQ LL

QD LRQDOH GH FHUFHWDUH L LQIRUPDUH

YL]LWH vQWkOQLUL UHOD LL FX FOLHQ LL IXUQL]RULL L FRQFXUHQ LL

FXPS UDUHD L DQDOL]D GH HDQWLRDQH

UH HDXD SURSULH D vQWUHSULQGHULL

&HULQ HOH FDUH WUHEXLH V

ILH UHVSHFWDWH GH LQIRUPD LH VXQW XWLOLWDWHD

exactitatea, profunzimea, vechimea sau vrsta

costul ei.


6LVWHPH

RUJDQL]D LRQDOH

DOH

YDORDUHD

DFWLYLW

LQIRUPD LHL

LL

GH

DQDOL]

economico-ILQDQFLDU
([LVW
DQDOL]

PDL PXOWH SRVLELOLW

HFRQRPLF

SXWHUQLFH

GH LQ

vQ

vQ

IXQF LH

FDGUXO

L GH RUJDQL]DUH L UHDOL]DUH D DFWLYLW

GH

ORU

VFRSXO

XQ

XUP ULW

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GH

VXELHFW

VSHFLDOL]DW

GH

LL GH

irmele

DQDOL]

economico-financiDU D F UHL UHVSRQVDELOLWDWH HVWH GH D HIHFWXD DQDOL]H

economice pe probleme, studii utilizate n practica managerial FXUHQW VDX
de a efectua diagnostice globale.
n cadrul firmelor mici care nu dispun de compartimente specializate
GH

DQDOL] 

DFWLYLWDWHD

FRPSDUWLPHQW IXQF LRQDO

$FWLYLWDWHD

ILQDQFLDU

FRQVW

DQDOL]D SH ED]
GH

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HFRQRPLF

GHVI XUDW

GH

HVWH

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GH

ILHFDUH

vQ FRPSHWHQ D DFHVWRUD

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GH

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vQ UHDOL]DUHD GH UDSRDUWH GH GLDJQRVWLFDUH SH SUREOHPH

GH ELODQ

DGPLQLVWUD LH

GH

, SH SUREOHPHOH FDUH LQWU

vQ VFRSXO SUH]HQW ULL vQ FDGUXO HGLQ HORU FRQVLOLLORU

UHVSHFWLY

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cazXO H[LVWHQ HL GLVIXQF LRQDOLW

DF LRQDULORU

LORU vQ IXQF

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ionarea ntreprinderii.

De asemenea, pot efectua analize tematice sau de ansamblu,

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- mil.lei
Nr.
crt.
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An curent
Prev Realizat
(p)
(1)

3URGXF LD
H[HUFL LXOXL

An
Precedent
(0)

Qe

700500

750000

Qf

Indicatori

Simbol

680000

CA
Qa

Indici %
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1/0

1/P

820000

107,06

117,05

109,33

690000

715000

101,47

105,14

103,62

650000

670000

680000

103,07

104,61

101,49

340000

345000

380000

101,47

111,76

110,14

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3.
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afaceri
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L-D vQGHSOLQLW LQWHJUDO RELHFWLYHOH $FHDVW HYROX LH D Lndicatorilor
SRDWH IL H[SOLFDW

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le ntreprinderii analizate;

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indicatorilor valorici 5HOD LLOH VWDWLFH

HYROX LHL HOHPHQWHORU FRPSRQHQWH DOH

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Nr.
crt.

5HOD LL VWDWLFH

Simbol

An
precedent

An curent
3UHY ]XW
Realizat

1.

Cifra de afaceri
Productia fabricata

Ca
Qf

0,955

0,971

0,951

2.

Productia fabricata
Productia exercitiului

Qf
Qe

0,970

0,920

0,871

3.

Valoarea adaugata
Productia exercitiului

Qa
Qe

0,485

0,460

0,463

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VLWXDW VXE QLYHOXO DQXOXL SUHFHGHQW GDWRULW

IDSWXOXL F

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-au
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CA
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statice
L
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Qe
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I CA
I
; SLWXD LD HVWH FRQVLGHUDW IDYRUDELO FkQG CA 1 .
I Qf
I Qf
2)

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vQWUH

ULWPXO

SURGXF LHL

YROXPXOXL

I Qf
I Qe

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1

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I Qe

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vQ

tabelul 2.3:
Tabelul 2.3

Nr.
crt.

An
Simbol
precedent

Rapoarte dinamice

1.

Indicele cifrei de afaceri

Indicele productiei fabricate

I Ca
I Qf

2.

Indicele productiei fabricate

Indicele productiei exercitiului

I Qf

3.

Indicele valorii adaugate

Indicele productiei exercitiului

I Qa

I Qe
I Qe

An curent
3UHY ]XW Realizat

1,015

0,994

0,979

0,947

0,898

0,948

0,947

0,954

1,007

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economic.
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unor concluzii referitoare la fundamentarea acestuia, la capacitatea factorilor

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coeficientul mediu de sortiment;

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QHvQGHSOLQLUL GH SURJUDP OD XQHOH VRUWLPHQWH FX GHS LULOH vQUHJLVWUDWH OD DOWH

sortimeQWH Q FRQGL LLOH XQHL FHUHUL QHPRGLILFDWH ID

GH SURJUDP GHS LULOH

GH SURGXF LH IDEULFDW

R FUHWHUH D VWRFXULORU

OD XQHOH VRUWLPHQWH VHPQLILF

vQWUHSULQGHULL GHFL R LPRELOL]DUH GH UHVXUVH LDU R QHUHDOL]DUH D SURGXF LHL

planificate la diferite sortimeQWH

SUHVXSXQH R RQRUDUH SDU LDO

FRQWUDFWXDOH FX FRQVHFLQ H QHJDWLYH DVXSUD DFWLYLW

0 ULPHD PD[LP
DSDU GRX

D REOLJD LLORU

LL HFRQRPLFH YLLWRDUH

D FRHILFLHQWXOXL GH VRUWLPHQW HVWH  Q SUDFWLF

VLWXD LL

a) Ks = 1, vQ XUP WRDUHOH VLWXD LL:

a1) cnd SURJUDPXO GH IDEULFD LH

vQ SURSRU LH GH 

a 2

D IRVW UHDOL]DW OD WRDWH VRUWLPHQWHOH

FkQG SURJUDPXO GH IDEULFD LH D IRVW UHDOL]DW L GHS LW OD WRDWH

VRUWLPHQWHOH LQGLIHUHQW GH SURSRU LD GH UHDOL]DUH

b) Ks < 1, vQ XUP WRDUHOH VLWXD LL:

b1) cnd proJUDPXO GH IDEULFD LH D IRVW UHDOL]DW L GHS LW SH WRWDO GDU
FHO SX LQ OD XQ VRUWLPHQW QX V-D UHDOL]DW QLYHOXO SUHY ]XW
b2 FkQG SURJUDPXO GH IDEULFD LH QX D IRVW UHDOL]DW DWkW SH WRWDO FkW L
SH VRUWLPHQWH LQGLIHUHQW GH SURSRU LD GH QHUHDOL]DUH

RelD LLOH GH GHWHUPLQDUH D FRHILFLHQWXOXL GH VRUWLPHQW VXQW

q min p 0
1) K s =
q0 p0

g 0 iq g 0
+
2) K s =
100
100 2
3) K s = 1
n care
qmin p0

(qp )
q0p0

YDORDUHD SURGXF LHL UHFDOFXODW

vQ OLPLWD SUHYHGHULORU GHWHUPLQDW

prin compararea valorii realizate pe produse cu valoarea

SUHY ]XW

L OXDUHD vQ FDOFXO D YDORULL PLQLPH

g0

SRQGHUHD

SUHY ]XW

VRUWLPHQWHORU

OD

FDUH

QX

-a realizat

programul;

g 0

SUHY ]XW
D VRUWLPHQWHORU OD FDUH V-D UHDOL]DWGHS LW
programul;
iq
= indicele de ndeplinire a prevederilor la sortimentele luate n
calcul;
(qp) = suma abaterilor negative pe sortimente.

SRQGHUHD

GH PDWHULDOH

vQWUHSULQGHUHD $/)$ DUH FD RELHFW GH

GH

FRQVWUXF LL

JUDGXO GH UHDOL]DUH D SURJUDPXOXL GH IDEULFD LH L V

Iq (%)

Abateri
negative qp

Realizat

1.
2.
3.
4.
5.

A
B
C
D
TOTAL

4500
3750
3000
3750
15000

4800
3200
4800
3200
16000

106,67
85,33
1600
85,33
106,67

-550
-550
-1100

FHUH

VH GHWHUPLQH

VH LQWHUSUHWH]H VLWXD LD

Tabelul 2.4

n limita
prevederilor
qminp0
4500
3200
3000
3200
13900

(%)

Realizat

30
25
20
25
100

(mil lei) qp

Denumire
sortiment

X
S
c h gT8f
a
` `T ""RQ6VITSRQ P3H
YXW SU I I

Nr.
crt.

6H

X gTS
c h pf

SURGXF LD

PX PIYT
c I "Y S
YXWQS
`I ""Rpf

6H FRQVLGHU

Exemplu:
DFWLYLWDWH

` YXWQSU IS YX c
T ` "e"d"X c "S b

30
20
30
20
100

Coeficientul de sortiment aferent bazei de date precedente este:

q min p 0 13900
1) K s =
=
= 0,9267
15000
q0 p0
2) K s =

g 0 iq
100 2

3) K s = 1

25 85,33 + 25 85,33 30 + 20
g0
=
+
= 0,9267
100
100
100 2

(qp )
1100
=1
= 0,9267
15000
q0p0

'HL OD QLYHOXO vQWUHSULQGHULL SURJUDPXO GH IDEULFD LH D IRVW GHS LW

(106,67%),

SH VRUWLPHQWH SURSRU LD GH UHDOL]DUH D IRVW GH 

VLWXD LH HYLGHQ LD]

IDSWXO F

 $FHDVW

vQ FD]XO LQH[LVWHQ HL VWRFXULORU VRFLHWDWHD QX L

SRDWH RQRUD LQWHJUDO REOLJD LLOH FRQWUDFWXDOH FX EHQHILFLDULL

&RHILFLHQWXO

GH

VRUWLPHQW

UHIOHFW

SURSRU LD

e realizare a

programului la unele sortimente.

,QWHUSUHWDUHD YDORULF

VH IDFH GLIHUHQ LDW vQ IXQF LH GH VLWXD LH GDF

DEDWHUHD GH OD SURJUDP HVWH IRDUWH PDUH OD XQ VLQJXU VRUWLPHQW VDX GDF

GH FRHILFLHQW HVWH HIHFWXO QHUHDOL] ULL SU

YDORDUHD vQUHJLVWUDW

ogramului la

PDL PXOWH VRUWLPHQWH GDU vQ SURSRU LL PDL PLFL 3HQWUX D GHOLPLWD DFHVWH
DVSHFWH

DQDOL]D

HVWH

FRPSOHWDW

QRPHQFODWXU
.n), FDUH DUDW QXP
respectat programul de fabULFD LH

FX

GHWHUPLQDUHD

coeficientului de
UXO GH SURGXVH VRUWLPHQWH OD FDUH QX V-a

5HOD LD GH FDOFXO HVWH

n
N

Kn =1

n care:
N = QXP
n QXP

UXO WRWDO GH SURGXVHVRUWLPHQWH H[LVWHQWH vQ QRPHQFODWRU

UXO GH SURGXVHVRUWLPHQWH OD FDUH QX V

-a realizat programul de

IDEULFD LH

n cazul considerat K n = 1
$FHDVW

YDORDUH

SUHYL]LXQLORU OD 

DUDW

2
= 0,5
4

SURGXF LD

QX

-a realizat conform

GLQ VRUWLPHQWHOH DQDOL]DWH UHVSHFWLY % L ' DPEHOH FX

indici de 85,33%).
 $QDOL]D VWUXFWXULL SURGXF LHL
5HDOL]DUHD
VRUWLPHQWH
DFHVWHLD

DEDWHUL

HYLGHQ LDWH

SURJUDPXOXL
GH

OD

GH

SURGXF LH

SURJUDP

JHQHUHD]

SULQ PRGLILFDUHD

vQ

SURSRU LL

PRGLILF UL

SRQGHULORU

SH

FDUH

L
OH

iferite pe

vQ

VWUXFWXUD

GH LQ

GLIHULWH

VRUWLPHQWH GLQ QRPHQFODWRUXO GH IDEULFD LH vQ YROXPXO WRWDO GH DFWLYLWDWH

Procedeele specifice de DQDOL] D VWUXFWXULL SURGXF LHL VXQW

SRQGHULOH JUHXW LOH VSHFLILFH
FRHILFLHQWXO PHGLX GH VWUXFWXU DVRUWLPHQW
&RPSDUDUHD

VRUWLPHQW DUDW

SRQGHULORU

HIHFWLYH

FX

FHOH

SURJUDPDWH

P VXUD vQ FDUH V D UHVSHFWDW VWUXFWXUD LQL LDO

DOH

ILHF UXL

D SURJUDP

ului

GH SURGXF LH
&DUDFWHUL]DUHD
UHDOL]HD]

LQWHQVLW

LL

PRGLILF ULL

VWUXFWXULL

SH ED]D FRHILFLHQWXOXL PHGLX GH VWUXFWXU

UHOD LLOH

1) K st = 1

.st

g
100

unde:
J DEDWHUHD QHJDWLY

D SRQGHULL SH VRUWLPHQWHSU

oduse

SURGXF LHL

VH

) determinat prin

2) K st =

Pr oductia efectiva executata in contul structurii prevazute

Productia efectiva recalculata

8WLOL]DUHD PRGHOXOXL  LPSXQH SDUFXUJHUHD XUP WRDUHORU HWDSH

D UHFDOFXODUHD SURGXF LHL UHDOL]DWH FRQIRUP VWUXFWXULL SUHY ]XWH ILH
SULQ DSOLFDUHD SRQGHULL SUHY ]XWH D ILHF UXL VRUWLPHQW OD YDORDUHD
UHDOL]DW

WRWDO

SURJUDPXOXL

ILH SULQ vQPXO LUHD LQGLFHOXL PHGLX GH UHDOL]DUH D

GH

SURGXF LH

FX

YDORDUHD

SUHY ]XW

ILHF UXL

sortiment.
E

GHWHUPLQDUHD

YDORULL

SURGXF LHL

UHDOL]DWH

vQ

FRQWXO

VWUXFWXULL

programate prin compararea valorii efective pe fiecare sortiment

cu cea UHFDOFXODW  OXkQGX-VH vQ FDOFXO YDORDUHD PLQLP 
([HPSOX 'DWHOH GH ED]

VXQW SUHOXDWH GLQ WDEHOXO SUHFHGHQW

Tabelul 2.5
- mil lei -

R  "

UHOD LLORU

R  "

ED]D

vQUHJLVWUHD]

recalculate

30
25
20
25
100

30
20
30
20
100

5
5
10

4800
4000
3200
4000
16000

GH

GHWHUPLQDUH

Valoarea

FRHILFLHQWXO

n contul
structurii

v  6w
y vu

v ""xR6VrvRt r3q
y tu w ur s
4800
3200
4800
3200
16000

Realizat

r v 3
vu

3H

y uw u
v ""xRt6dr6y eyu

4500
3750
3000
3750
15000

A
B
C
D
TOTAL

Realizat

| g|

yxtu
v ""R6w

1
2
3
4
5

Denumire
sortiment

yv
r Rv
yxtu
r ""R8

Nr.
crt.

4800
3200
3200
3200
14400

GH

VWUXFWXU

XUP WRDUHOH YDORUL

10
= 0,9
100
14400
K st =
= 0,9
16000
K st = 1

FRQGL LLOH

sortimente, sociHWDWHD
sortimentale. $FHDVW

QHUHVSHFW ULL
FRPHUFLDO
VLWXD LH

FRHILFLHQWXOXL GH VWUXFWXU
VWUXFWXU

HVWH

programului.

SURJUDPXOXL

HVWH

HYLGHQ LDW

(K st = 0,9) .9DORDUHD

HYLGHQ LD]

SURGXF LHL

IDEULFDWH

SH

D vQUHJLVWUDW L R PRGLILFDUH D VWUXFWXULL

GH

YDORDUHD

PD[LP

VXEXQLWDU

D FRHILFLHQWXOXL GH

realizarea structurii sortimentale conform

 $QDOL]D FRUHODW

D FRHILFLHQWXOXL GH VWUXFWXU

FX FRHILFLHQWXO

de sortiment
&RPSDUDUHD
VWUXFWXU

YDORULORU

FRHILFLHQWXOXL

GH

VRUWLPHQW

FHOXL

GH

SRDWH FRQGXFH OD XUP WRDUHOH FRPELQD LL

a)

b)

Ks = 1
Kst < 1
Iq > 100

Q DFHDVW

Ks < 1
Kst < 1
Iq 

VLWXD LH SURJUDPXO GH SURGXF LH D IRVW

UHDOL]DW LVDX GHS LW OD WRDWH VRUWLPHQWHOH GDU vQ

SURSRU LL GLIHULWH
DFHVW

vQGHSOLQLW

FD]
OD

SURJUDPXO
FHO

GH

SX LQ

IDEULFD LH

XQ

SURSRU LLOH GH UHDOL]DUH GLIHU

QX

VRUWLPHQW

-a
iar

GH OD XQ VRUWLPHQW

la altul.
c)

Ks = 1
Kst = 1
Iq 

$FHVW FD] HVWH R VROX LH WHRUHWLF

F

SURJUDPXO GH SURGXF LH V

L HYLGHQ LD]

-a realizat la toate

VRUWLPHQWHOH vQ DFHHDL SURSRU LH

i1 = i2 = ... = in = IQ
d)

Ks < 1
Kst = 1
Iq < 100

(VWH

VROX LH

WHRUHWLF

FH

VHPQLILF

IDSWXO

SURJUDPXO GH SURGXF LH QX D IRVW UHDOL]DW OD WRDWH

VRUWLPHQWHOH vQ DFHHDL SURSRU LH

i1 = i2 = ... in = IQ < 100

n cazul practic prezentat
UH]XOW


Ks = 0,9267
Kst = 0,9
Iq = 106,67%

SURJUDPXO QX D IRVW UHDOL]DW OD WRDWH VRUWLPHQWHOH

GLQ WRWDO VRUWLPHQWH Q FRQGL LLOH vQ FDUH

vQWUHSULQGHUHD VH DIO

privind voluPXO OLYU

0RGLILFDUHD

, UHVSHFWLY % L '
FHUHUHD QX V-a modificat,

vQ LPSRVLELOLWDWHD GH D UHVSHFWD FODX]HOH FRQWUDFWXDOH

ULORU F WUH VROLFLWDQ L
VWUXFWXULL

SURGXF LHL

VH

YD

UHIOHFWD

economico-ILQDQFLDUL GHWHUPLQD L SH ED]D DFHVWHLD

 5DWD HILFLHQ HL FRVWXULORU DIHUHQWH H[SORDW ULL

q1c0 1000 q0 c0 1000

q1 p0
q0 p0

unde:
T

SURGXF LD RE LQXW

GHVWLQDW

FRVWXO XQLWDU GH SURGXF LH

SUH XO PHGLX GH YkQ]DUH

YkQ] ULL

vQ

WR L

LQGLFDWRULL

 3URILWXO GLQ H[SORDWDUH DIHUHQW SURGXF LHL IDEULFDWH

Q f1 pr pr0 q1p1 pr pr0 ,

unde:
Qf = SURGXF LD IDEULFDW GHVWLQDW YkQ] ULL
pr = profLWXO OD  OHX YHQLWXUL GLQ H[SORDWDUH VDX OD  OHX SURGXF LH YkQGXW ;

pr = SURILWXO UHFDOFXODW vQ IXQF LH GH VWUXFWXUD HIHFWLY D SURGXF LHL

q1c 0
respectiv: pr = 1
q1p 0
 (ILFLHQ D DFWLYHORU GH H[SORDWDUH

Qf1 pr pr 0

,
AE1

unde:

AE = active de exploatare;

unde:

AF = active fixe;

 (ILFLHQ D DFWLYHORU IL[H

Qf1 pr pr 0

,
AF1

 (ILFLHQ D DFWLYHORU FLUFXODQWH

Qf1 pr pr 0

,
AC1

unde:

AC = active circulante;

 5DWD UHQWDELOLW

LL UHVXUVHORU FRQVXPDWH

 5DWD UHQWDELOLW

LL FRPHUFLDOH

q1 p 0

q0 p0

1100
1100

q1c 0

q0 c0

q1c 0 100 1 q0 c0 100

q1 p 0
q0 p0

 (ILFLHQ D FDSLWDOXOXL SHUPDQHQW

Qf1 pr pr 0

,
K per1

unde:

K per = capitalul permanent

 $O L LQGLFDWRUL GH SHUIRUPDQ



$QDOL]D

FDOLW

LL

SURGXF LHL

LPSOLFD LLORU

HFRQRPLFR

financiare ale acesteia

UHSUH]LQW

JUDGXO

FDUDFWHULVWLFLORU

WHKQLFH

Calitatea
WRWDOLWDWHD

vQ

FDUH

XQ

HFRQRPLFH

SURGXV

VDX

VRFLDOH

VHUYLFLX

SULQ

de exploatare,

satisface nevoia pentru care a fost creat.

PEXQ W
RULF UHL

VRFLHW

LUHD FDOLW
L

LL SURGXF LHL UHSUH]LQW

GHRDUHFH

ILQDQFLDUH D FRPSHWLWLYLW

SHUPLWH

FUHWHUHD

SHUIRUPDQ HORU

LL L FRQVROLGDUHD SR]L LHL GH SLD

&DUDFWHUL]DUHD FDOLW

LL SURGXF LHL VH UHDOL]HD]

VLVWHP GH LQGLFDWRUL SULQFLSDOHOH PRGDOLW

a)

XQ RELHFWLY HVHQ LDO DO

L GH DQDOL]

HFRQRPLFR

D vQWUHSULQGHULL

SULQ XWLOL]DUHD XQXL

ILLQG

&RHILFLHQWXO HFKLYDOHQ HL WHKQLFH VDX DO SDUDPHWUXOXL XQLF

prin

FDUH vQVXLULOH FDOLWDWLYH DOH XQXL SURGXV VXQW UHGXVH OD XQD VLQJXU  DFHHD
FDUH LQWHUHVHD]

SH EHQHILFLDU

b) Dinamica refuzurilor din partea beneficiarilor prin determinarea

SRQGHULL SURGXVHORU UHIX]DWH vQ WRWDOXO SURGXF LHL OLYUDWH

c)

'LQDPLFD

UHFODPD LLORU

GLQ

SDUWHD

EHQ

eficiarilor

prin

GHWHUPLQDUHD QXP UXOXL GH UHFODPD LL VDX YDORDUHD SURGXVHORU UHFODPDWH

ntr-R SHULRDG GH WLPS

d) 'LQDPLFD FKHOWXLHOLORU
H[SULPDW

FD VXP

DEVROXW

FX UHPHGLHULOH vQ WHUPHQXO GH JDUDQ LH

VDX FD QLYHO FH UHYLQH OD  PLOLRQ  PLOLDUG OH

SURGXF LH

e)
H[

Indicatorii

UDQGDPHQWXO

VSHFLILFL

tehnico-economici

LQVWDOD LLORU

FRQVXPXO

GH

ILHF UHL

FRPEXVWLELO

UDPXUL

GXUDELOLWDWHD

gradul de finisare etc.);

f) DOWH PRGDOLW L
DQDOL]D

FDOLW

LL

LL HFRQRPLFH R GHRVHELW

SURGXF LHL

GLIHUHQ LDWH

t xlpk
j R|ds fs xls xr { pl ppj
r
x z r l

d x t j h
fhl
xy iswu p tmrq pRl omFj g f e )
r v f s p f p n hlk i h
d

SUH]LQW

SH

FODVH

LPSRUWDQ D
GH

FDOLWDWH

RRm$} l dR x 9j s l )Rp xip

} x zprplj srh f ~} i x fj zpl f

Q DSUHFLHUHD HILFLHQ HL DFWLYLW

R

Aceasta se poate realiza pe produs sau la nivel de ntreprindere.

3ULQFLSDOHOH FULWHULL FDUH VWDX OD ED]D JUXS ULL SURGXVHORU SH FODVH de
calitate sunt:
calitatea materiei prime folosite;
procedeele tehnologice utilizate pentru prelucrarea materiilor
prime;
DEDWHULOH GH OD QRUPHOH LQWHUQH FDUH UHJOHPHQWHD] SDUDPHWULL GH
calitate ai produselor respective.

2.3.1 $QDOL]D FDOLW

6H UHDOL]HD]

LL OD QLYHOXO XQXL SURGXV

SULQ

:
a) coeficientul mediu de calitate K , stabilit conform modelului
qiKi
gi Ki
K=
K=
sau
,
100
qi

()

n care:
K = coeficientul mediu de calitate
gi VWUXFWXUD SURGXF LHL IDEULFDWH pe clase de calitate
Ki = coeficientul clasei de calitate i
qi FDQWLWDWHD IDEULFDW GLQ FODVD GH FDOLWDWH L

E FRHILFLHQWXO PHGLX GH FDOLWDWH VWDELOLW SH ED]D FRHILFLHQ LORU GH

HFKLYDOHQ

K=

q i Kei
qi

K=

sau

q i Kei
,
100

n care:
.HL

FRHILFLHQWXO GH HFKLYDOHQ

DO FODVHL GH FDOLWDWH L VWDELOLW FD UDSRUW

vQWUH SUH XO XQLWDU DO SUR

dusXOXL

GLQ FODVD GH FDOLWDWH L L SUH XO GH

YkQ]DUH DO SURGXVXOXL GH FDOLWDWH VXSHULRDU

F SURFHGHXO SUH XOXL PHGLX

p=

q i pi
pi

(p):

sau

p=

g i pi
,
100

n care:
pi SUH XO XQLWDU DO SURGXVHORU GLQ FODVD GH FDOLWDWH L
Q FHHD FH SULYHWH SULPHOH GRX

favorabil cnd coeficientul mediX

de 1 (clasa I de calitate).

SURFHGHH VLWXD LD HVWH DSUHFLDW

GH FDOLWDWH vQUHJLVWUHD]

YDORUL DSURSLDWH

3ULQ LQWHUPHGLXO SUH XOXL PHGLX GH YkQ]DUH FkQG

R vPEXQ W

LUH D FDOLW

LL SURGXF LHL ID

p1 > p 0

VH DVLVW

OD

GH SHULRDGD SUHFHGHQW  vQ FDUH

p1

SUH XO PHGLX DO SHULRDGHL FXUHQWH

p0

SUH XO PHGLX DO ED]HL GH FRPSDUD LH

Exemplu

6RFLHWDWHD

FRPHUFLDO

$'5,$7,&$

65/

SURGXFH

SURGXVXO ; SH GLYHUVH FODVH GH FDOLWDWH ,QIRUPD LLOH GH ED]

FRPHUFLDOL]HD]

cu privire la analizD

FDOLW

LL SURGXF LHL YkQGXWH VXQW SUH]HQWDWH VLQWHWLF vQ

WDEHOXO GH PDL MRV 6H FHUH V

VH GHWHUPLQH HYROX LD FDOLW

LL OD QLYHO GH

produs.
Tabelul 2.6
Canti
Structura
Indice
Valori
(%) vnzare de echivalente (Kg)
(mil lei)
P
R lei/Kg echiv.
P
R
P
R
40 55 65.000
1
40.000 60500 2.600 3.932,5
35 30 52.000
0,8
28.000 26.400 1.456 1.372,8
25 15 39.000
0,6
15.000 9.900
585
386,1
100 100
x
x
83.000 96.800 4.641 5.691,4

$ 

Clasa
Cantitate
de
(Kg)
calitate
P
R
1 Cal. I
40.000 60.500
2 Cal. a II-a 35.000 33.000
3 Cal. a III-a 25.000 16.500
TOTAL
100.000 110.000

$SOLFkQG PRGHOH GH DQDOL]

D FDOLW

Nr.
crt.

LL OD QLYHO GH SURGXV VH RE LQ

XUP WRDUHOH UH]XOWDWH

a) K 0 =

K1 =

q i0 K i
q i0

q i1 K i
q i1
g i0 K i

40.000 1 + 35.000 2 + 25.000 3

= 1,85
100.000

60.500 1 + 33.000 2 + 16.500 3

= 1,6 sau
110.000

40 1 + 35 2 + 25 3
= 1,85
100
100
g i01 K i 55 1 + 30 2 + 15 3
K1 =
=
= 1,6
100
100
g i0 K ei 40 1 + 35 0,8 + 25 0,6
b) K 0 =
=
= 0,83
100
100
K0 =

K1 =

g i1 K ei

55 1 + 30 0,8 + 15 0,6
= 0,88
100

100
c)
g i 0 p i0 40 65.000 + 35 52.000 + 25 39.000
p0 =
=
= 53.950 lei / Kg
100
100

p1 =

g i1 p i1 55 65.000 + 30 52.000 + 15 39.000

=
= 57.200 lei / Kg
100
100
Q

FDOLW

FRQFOX]LH

WR L

LQGLFDWRULL

GHWHUPLQD L

LL ID D GH SURJUDP VLWXD LH DSUHFLDW

SR

UHOHY

vPEXQ W

GLQ WDEHO F

D FUHVFXW SRQGHUHD SURGXVHORU GH FDOLWDWHD , GH OD 

GHIDYRDUHD

FHORUODOWH

GRX

FODVH

GH

LUH

zitiv. De altfel se poate observa

FDOLWDWH

$FHVW

IDSW

OD 

VH

YD

SHUIRUPDQ H

vQ

UHIOHFWD
UH]XOW

IDYRUDELO DVXSUD WXWXURU LQGLFDWRULORU

YDORULFL GH

GHRDUHFH YROXPXO SURGXF LHL YkQGXWH

D FUHVFXW OD FODVD GH FDOLWDWH , XQGH

ate

SUH XO GH GHVIDFHUH HVWH VXSHULRU PHGLHL vQWUHSULQGHULL

 $QDOL]D FDOLW

LL OD QLYHO GH vQWUHSULQGHUH

/D QLYHO GH vQWUHSULQGHUH UHOD LLOH GH GHWHUPLQDUH DQDOLWLF

D FDOLW

LL

sunt:
D FRHILFLHQWXO PHGLX JHQHUDOL]DW DO FDOLW

Kg =

gi Ki ,

LL

100

n care:
gi VWUXFWXUD SURGXF LHL IDEULFDWH SH WLSXUL GH SURGXVH
K i = coeficientul mediu de calitate pe produse.
b)

Ponderea produselor de
FDOLWDWH VXSHULRDU
YDORDUHD WRWDO

vQ

9DORDUHD SURGXVHORU GH FDOLWDWH VXSHULRDU

x 100

SURGXVHORU GLIHUHQ LDWH

SH FDOLW

9DORDUHD WRWDO

D SURGXVHORU

$SURSLHUHD GH  D FRHILFLHQWXOXL PHGLX JHQHUDOL]DW DO FDOLW

R VLWXD LH IDYRUDELO

doilea indicator WRWDO

SRQGHUHD SURGXVHORU GH FDOLWDWH

D SURGXVHORU GLIHUHQ LDWH SH FDOLW

de 100 pentru a eYLGHQ LD

FX SUHSRQGHUHQ

Exemplu

LL UHOHY

SHQWUX DFWLYLWDWHD vQWUHSULQGHULL 9DORDUHD FHOXL GH

IDSWXO F

VXSHULRDU

WUHEXLH V

-al

vQ YDORDUHD

ILH FkW PDL DSURSLDW

VRFLHWDWHD UHDOL]HD]

VL FRPHUFLDOL]HD]

SURGXVH GH FDOLWDWHD ,
6RFLHWDWHD $'5,$7,&$ 65/ SURGXFH L FRPHUFLDOL]HD]

WUHL WLSXUL GH SURGXVH 'LVSXQkQG GH GDWHOH GLQ WDEHOXO GH PDL MRV VH FHUH V

se analizeze HYROX LD FDOLW

LL SURGXF LHL YkQGXWH OD QLYHOXO vQWUHSULQGHULL

Nr.
crt.

1
2
3
TOTAL

Coeficientul de
calitate pe
produs

Structura

Denumire
produs

SURGXF LHL

P
50
30
20
100

A
B
C

R
35
35
30
100

P
1,5
1,7
1,95
x

( g i K i / 100)

R
1,4
2
1,9
x

&RHILFLHQWXO PHGLX JHQHUDOL]D DO FDOLW

g i 0 K i0

Tabelul 2.7
Coeficientul generalizat de
calitate
Kg0
0,75
0,51
0,39
1,65

Kg1
0,49
0,7
0,57
1,53

Kgrec
0,525
0,595
0,585
1,705

LL D IRVW GHWHUPLQDW DVWIHO

50 1,5 + 30 1,7 + 20 1,95

= 1,65
100
100
g i1 K i1 35 1,4 + 35 2 + 30 1,9
Kg1 =
=
= 1,53
100
100
Kg 0 =

Kg rec =
)D

g i1 K i0
100

35 1,5 + 35 1,7 + 30 1,95

= 1,705
100

GH SURJUDP VRFLHWDWHD D vQUHJLVWUDW R vPEXQ W

LUH D FDOLW

LL

ntreprinderii cu 12% Kg = Kg1 Kg 0 .

'LQ SXQFW GH YHGHUH IDFWRULDO DFHDVW


,QIOXHQ D

PRGLILF ULL

PHGLX JHQHUDOL]DW DO FDOLW

g i =

g i1 K i0
100

VWUXFWXULL

HYROX LH VH H[SOLF

SURGXF LH

DVWIHO

i asupra coeficientului

LL

g i0 K i0
100

= Kg rec Kg 0 = 1,705 1,65 = 0,055

 ,QIOXHQ D PRGLILF ULL FRHILFLHQWXOXL GH FDOLWDWH SH SURGXV

K i =

g i1 K i0

g i1 K i0

= Kg1 Kg rec = 1,53 1,705 = 0,175

100
100
Concluzie  Q SHULRDGD FXUHQW
crescut ponderea produVHORU % L & OD FDUH

ID

GH

ED]D

GH

FRPSDUD LH

FRHILFLHQ LL GH FDOLWDWH SUHY ]X L

vQ SURJUDP DX IRVW LQIHULRUL SURGXVXOXL $ L PHGLHL vQWUHSULQGHULL ,QIOXHQ D

VWUXFWXULL

HVWH

DSUHFLDW

FD

QRUPDO

LQGLIHUHQW

GH

VHQVXO

LQIOXHQ HL

GDF

PRGLILFDUHD DFHVWHLD HVWH UH]XOWDWXO RULHQW ULL FHUHULL SRSXOD LHL VSUH DQXPLWH
SURGXVH L QX HIHFWXO XQRU GLVIXQF LRQDOLW

REVHUY

&RPSDUkQG

HYROX LD

L vQ DFWLYLWDWHD LQWHUQ

FRHILFLHQWXOXL

GH

FDOLWDWH

D VRFLHW

LL

SURGXVH

VH

SH

HIRUWXO vQWUHSULQGHULL vQ GLUHF LD UHDOL] ULL XQRU SURGXVH GH FDOLWDW

PDL EXQ

SULQ vPEXQ W

LUHD WHKQRORJLLORU GH SURGXF LH

,QIOXHQ D DFHVWXL IDFWRU DVXSUD FRHILFLHQWXOXL PHGLX JHQHUDOL]DW DO

FDOLW

LL HVWH GH

 YDORDUH FDUH DQXOHD]

HIHFWXO QHIDYRUDELO DO VWUXFWXULL

SURGXF LHL
& LOH SHQWUX vPEXQ W

LUHD FDOLW

LL SURGXF LHL YkQGXWH VXQW VSHFLILFH

domeniului de activitate al ntreprinderii, n general recomandndu-se:

UHDOL]DUHD SURGXVXOXL OD SDUDPHWULL SURLHFWD L

utilizarea unor materii prime de calitate

VXSHULRDU

L D XQRU

ED]H GH SURGXF LH SHUIRUPDQWH HWF

2.4 Analiza cifrei de afaceri

 $ERUG

UL FRQFHSWXDOH

Conceptual, cifra de afaceri

WRWDO 

FLIU

GH

PDUJLQDO  FLIU

DIDFHUL

L

HYDOXDWH

OD

SRDWH IL DERUGDW

FLIU

GH DIDFHUL FULWLF

Cifra de afaceri
VRFLHW

QHW 
WRWDO

DIDFHUL

FD FLIU

PHGLH

FLIU

GH DIDFHUL
GH

DIDFHUL

&$

SUH XULOH

GH

SLH HL

UHSUH]LQW
VDX

WRWDOLWDWHD

VXPD

WRWDO

DIDFHULORU
YHQLWXULORU

RSHUD LXQL FRPHUFLDOH HIHFWXDWH GH R vQWUHSULQGHUH vQWU R SHULRDG

XQHL
GLQ

GH WLPS

GHWHUPLQDW 
&LIUD GH DIDFHUL QHW

&$n

) conform CadruOXL JHQHUDO GH vQWRFPLUH L

SUH]HQWDUH D VLWXD LLORU ILQDQFLDUH HODERUDW GH &RPLWHWXO SHQWUX 6WDQGDUGHOH

GH &RQWDELOLWDWH ,QWHUQD LRQDOH HVWH IRUPDW

GLQ SURGXF LD YkQGXW

701, 702, 703    L  YHQLWXULOH GLQ YkQ]

FRQWXULOH

UL GH P UIXUL 

L YHQLWXUL GLQ VXEYHQ LL GH H[SORDWDUH DIHUHQWH YkQ] ULORU 

( )

Cifra de afaceri medie CA - UHIOHFW YHQLWXO

produs sau serviciu.
CA
5HOD LD GH determinare este CA =
,
Q
unde:
3

YROXPXO IL]LF DO YkQ] ULORU

Maria Niculescu

Rm"  mB $D  $   e R( FR d

RE LQXW SH XQLWDWHD GH

&LIUD GH DIDFHUL PDUJLQDO

ntreprinderi (&$
vndute (Q).

JHQHUDW

&$m

H[SULP

YDULD LD YHQLWXULORU XQHL

GH FUHWHUHDVF GHUHD FX R XQLWDWH D FDQWLW

CA
Q
&$min) UHSUH]LQW

LL

l este CA m =

5HOD LD GH FODFX

&LIUD GH DIDFHUL FULWLF

VH

DVLJXU

vQFHSH V

DFRSHULUHD
GHYLQ

LQWHJUDO

FKHOWXLHOLORU

QLYHOXO YkQ] ULORU OD FDUH

SUDJXO

OD

FDUH

VRFLHWDWHD

SURILWDELO 

5HOD LD GH GHWHUPLQDUH HVWH

CA min =

ChF
,
100 Rv

unde:
ChF = suma cheltuielilor fixe
Rv = rata medie a cheltuielilor variabile, Rv =

Chv
100 , unde Chv = suma
CA

cheltuielilor variabile

 $QDOL]D HYROX LHL vQ WLPS D FLIUHL GH DIDFHUL

$SUHFLHUHD GLPHQVLXQLL DFWLYLW

LL HFRQRPLFH D X

nui agent economic

L D PRGLILF ULL DFHVWHLD vQ WLPS HVWH DEVROXW REOLJDWRULH SHQWUX SURFXUDUHD L

asigurarea resurselor viitoare necesare ndeplinirii obiectivelor propuse.

$QDOL]D HYROX LHL vQ WLPS D FLIUHL GH DIDFHUL VH UHDOL]HD]
P ULPLORU

DEVROXWH

LQGLFLORU

GH

GLQDPLF

FX

ED]

ULWPXULORU PHGLL Q FRQGL LLOH XQHL HFRQRPLL GH SLD

DSUHFLHUH UHDO

IL[

vQ

ODQ 

LQVWDELOH SHQWUX R

D UH]XOWDWHORU vQWUHSULQGHULL VH LPSXQH FRUHFWDUHD YDORULORU

curente ale indicatorilor economici cu LQGLFHOH

PHGLX DO SUH XULORU vQ VFRSXO

HOLPLQ ULL HIHFWXOXL LQIOD LHL IDFWRU H[RJHQ FDUH QX UHIOHFW

XQLW

FX DMXWRUXO

HIRUWXO SURSULX DO

LL HFRQRPLFH

Astfel:
&LIUD GH DIDFHUL UHDO

CA r =

VH GHWHUPLQ

CA c
,
Ip

unde:
CAc = cifra de DIDFHUL FXUHQW VWDWLVWLF
CAr FLIUD GH DIDFHUL UHDO
Ip LQGLFHOH PHGLX DO SUH XULORU

SH ED]D UHOD LHL

5DWD UHDO

GH FUHWHUH D FLIUHL VH GHWHUPLQ

SH ED]D UHOD LHL

1+ Rc

R reala =
1100 ,
1 + R p

unde:
Rc UDWD GH FUHWHUH D FLIUHL GH DIDFHUL FXUHQWH
Rp = rata de creWHUH D SUH XULORU
3HQWUX H[HPSOLILFDUH VH FRQVLGHU

F UHL FLIU

GH DIDFHUL HVWH DQDOL]DW

Nr.
crt.
1.

FD]XO XQHL VRFLHW

SH R SHULRDG

Indicatori

GH  DQL

L FRPHUFLDOH D

.
Tabelul 2.8

2.

GH

5LWPXO

118,57

110,84

114,4

112,38

118,57

131,42

150

168,57

18,57

10,84

14,4

12,38

13,94

vQ ODQ

GH

22

17

19,6

700

680,32

691,8

674,84

634,14

-2,81

1,68

-2,45

-6,03

IL[

&UHWHUHD

N-1
1050

N
1180

FUHWHUH

&$ FX ED]

4.

FUHWHUH

&$ FX ED]

3.

N-3
830

Cifra
de
afaceri
sWDWLVWLF PLO OHL
5LWPXO

R (% )

N-4
700

Ani
N-2
520

DQXDO

cifrei de afaceri (%)

6.

&UHWHUHD

DQXDO

SUH XULORU 

5.

Cifra de afaceri coUHDO  PLO OHL

UHFWDW

7.

&UHWHUHD DQXDO

UHDO

-2,44

CA(%)
6H REVHUY


VH

ULWPXO PHGLX DQXDO GH FUHWHUH D FLIUHL GH DIDFHUL GH

GDWRUHD]

vQ

H[FOXVLYLWDWH

LQIOD LHL

(IHFWXkQG

GHIODWDUHD

LQGLFHOH PHGLX DO SUH XULORU YDORULOH UHDOH DOH FLIUHL GH DIDFHUL HYLGHQ LD]
GLPLQXDUH D DFWLYLW

LL vQWUHSULQGHULL FX 

FX
R

DQXDO

2.4.3 Analiza structurii cifrei de afaceri

$QDOL]D

VWUXFWXUDO

VRUWLPHQWH FOLHQ L FLFOX GH YLD

QXPDL UHFRPDQGDW
RELHFWLYH FDUH V

FLIUHL

3UHOXFUDUH GXS

1997

DIDFHUL

SH

WLSXUL

GH

DFWLYLW

L

FL L QHFHVDU  GHRDUHFH HD SHUPLWH OXDUHD XQRU GHFL]LL

FRQGXF

OD PD[LPL]DUHD HIHFWHORU RE LQXWH vQ UDSRUW FX

HIRUWXULOH GHSXVH 3UDFWLF QX WRDWH

GH

D SURGXVHORU SLH H GH GHVIDFHUH HWF HVWH QX

01LFXOHVFX

YDULDELOHOH XQXL

DQXPLW FULWHULX GH LQ

'LDJQRVWLF JOREDO VWUDWHJLF (GLWXUD (FRQRPLF

 %XFXUHWL

DFHODL FRHILFLHQW GH VHPQLILFD LH vQ RE LQHUHD UH]XOWDWHORU HFRQRPLFH L vQ

FRQVHFLQ

SROLWLFD VWUDWHJLF

aspecte n scopul eficientiz

0HWRGH GH DQDOL]

D XQLW

ULL DFWLYLW

LL WUHEXLH V

LD vQ FRQVLGHUDUH DFHVWH

LL

a structurii de afaceri

Din punct de vedere metodologic, analiza structurii cifrei de afaceri

VH UHDOL]HD]

SULQ
P

ULPLOH UHODWLYH GH VWUXFWXU

coeficientul de concentrare Gini-Struck (G)

G=

n g i 2 1
,
n 1

unde:
gi SRQGHUHD DFWLYLW
Q

LL L vQ FLIUD GH DIDFHUL

QXP UXO GH WHUPHQL DL VHULHL

Coeficientul de concentrare G poate lua valori n intervalul [0, 1],

VHPQLILFD LD ILLQG XUP WRDUHD

1) cnd G

 UH]XOW

vQ VWUXFWXUD DFWLYLW

LL FkWHYD SURGXVH FRQWULEXLH vQ

FHD PDL PDUH SURSRU LH OD UHDOL]DUHD FLIUHL GH DIDFHUL

 UH]XOW

2) cnd G

vQ VWUXFWXUD DFWLYLW

GH LQ SRQGHUL DSUR[LPDWLY HJDOH v

LL PDMRULWDWHD SURGXVHORU

n cifra de afaceri.

- indicele Herfindhal: H = g i2 ,
gi
Q

SRQGHUHD DFWLYLW

i =1

LL L vQ FLIUD GH DIDFHUL

QXP UXO GH WHUPHQL FRQVLGHUD L

,QWHUSUHWDUHD UH]XOWDWHORU HVWH VLPLODU

6WUXFN FX SUHFL]DUHD F

Exemplu:

LQWHU

FX FHD D FRHILFLHQWXOXL *LQL

1
valul de valori este ,1 .
n

$QDOL]D VWUXFWXULL DFWLYLW

LL SH ED]D FRHILFLHQ LORU *LQL

6WUXFN L +HUILQGKDO
6H

FRQVLGHU

VRFLHWDWHD

DYkQG

FD

RELHFW

comercializarea DUWLFROHORU GH vPEU F PLQWH

Structura vnz ULORU HVWH UHSUH]HQWDW vQ WDEHOXO XUP

p
R|w"

0,21
0,0441

R|w"

Rm9"

femei
0,72
0,5184

copii
0,05
0,0025

DFWLYLWDWH

WRU

Rm9"

Activitatea
Structura
gi
gi2

GH

sport
0,02
0,004

Tabelul 2.9
TOTAL
1
0,5654

n g i 2 1
n 1

- Coeficientul Gini-Struck este: G =

G = 0,6484
n

- Coeficientul Herfindhal este: H = g i 2 n

i =1

H = 0,5654
6H REVHUY

DPELL FRHILFLHQ L DX P ULPL VLWXDWH DSUR[LPDWLY OD

MXP WDWHD LQWHUYDOXOXL GH YDORUL > @ SHQWUX * L

GRX

1
4 ,1 pentru H. Deci,

GLQ FHOH SDWUX VRUWLPHQWH FRPHUFLDOL]DWH FRQIHF LL IHPHL L FRQIHF LL

E UED L GHILQHVF DFWLYLWDWHD VRFLHW

LL DQDOL]DWH vPSUHXQ

GH LQ 

GLQ

cifra de afaceri).
- Metoda ABC HVWH XWLOL]DW vQ SULQFLSDO SHQWUX DQDOL]D VWUXFWXULL
cifrei de afacerL SH SURGXVH FOLHQ L IXUQL]RUL /LWHUDWXUD GH VSHFLDOLWDWH
HYLGHQ LD]

IDSWXO F

SURGXVHOH FRPHUFLDOL]DWH FRQWULEXLH vQ SURSRU LL GLIHULWH

la realizarea cifrei de afaceri a unei ntreprinderi. n acest sens se disting trei

grupe de produse:
Grupa A: 10  GLQ QXP UXO GH SURGXVH UHDOL]HD]  70% din
cifra de afaceri;
Grupa B: 25  GLQ QXP UXO GH SURGXVH UHDOL]HD]  30% din
cifra de afaceri;
Grupa C: 65  GLQ QXP UXO GH SURGXVH UHDOL]HD] FX  15%
din cifra de afaceri.
n baza acestRU FRRUGRQDWH SRDWH IL UHSUH]HQWDW JUDILF FXUED
WHRUHWLF
LGHQWLILF
UHDO

D FLIUHL GH DIDFHUL &XUED UHDO  VSHFLILF

SHUIHFW FX FHD WHRUHWLF

D XQHL VRFLHW

ILHF UHL vQWUHSULQGHUL QX VH

GHL WHQGLQ D VH PHQ LQH 0DL PXOW FXUED

L SRDWH vQUHJLVWUD PRGLILF UL L GH OD R SHULRDG

GH WLPS

la alta.
Q IXQF LD SR]L LD JUDILFXOXL HIHFWLY vQ UDSRUW FX FHO WHRUHWLF VH IDF
LQWHUSUHW UL DVXSUD VWUXFWXULL DFWLYLW
$VWIHO

FkQG

FXUED

UHDO

LL HFRQRPLFH
HVWH

VLWXDW

GHDVXSUD

SURGXVHOH JUXSHL $ GH LQ R SRQGHUH IRDUWH LPSRUWDQW

FXUEHL

WHRUHWLFH

vQ FLIUD GH DIDFHUL LDU

sortimentul este redus.

&kQG FXUED UHDO

VH DIO

VXE FXUED WHRUHWLF  VRFLHWDWHD GLVSXQH GH XQ

QXP U PDUH GH DUWLFROH OD JUXSHOH % L &

Etapele metodei ABC sunt:

- Ordonarea nomenclatorului de prodXVH

vQ VHQVXO GHVFUHVF WRU DO YDORULL

YkQ] ULORU SH DUWLFROH

- 'HWHUPLQDUHD YkQ] ULORU FXPXODWH

- 6WDELOLUHD JUXSHORU GH VHPQLILFD LH
- 7UDVDUHD FXUEHL WHRUHWLFH L D FHOHL UHDOH
- ,QWHUSUHWDUHD UH]XOWDWHORU HFRQRPLFH L
eILFLHQWL]DUHD DFWLYLW LL
Exemplu
DUWLFROH

6LWXD LD

SURSXQHUHD

XQRU

P VXUL

SHQWUX

QWUHSULQGHUHD *DPD 6$ SURGXFH L FRPHUFLDOL]HD]

UHDOL] ULL

FLIUHL GH DIDFHUL SH SURGXVH VH SUH]LQW



FD vQ

tabelul nr. 2.10.

Produse

9kQ]

1
2
3
4
5
6
7
8
9
10
TOTAL

9kQ]

Produse
n ordine
descresc WRDUH
4
3
5
1
7
6
2
8
9
10
10

(mil lei)
80
65
100
113
92
71
76
62
31
16
706

UL

Tabelul 2.10
Ponderi n:

UL

ABC
(mil lei)
113
100
92
80
76
71
65
62
31
16
706

9kQ]

UL

cumulate
113
213
305
385
461
532
597
569
690
706
-

Produse
20%

CA
30,17%

40%

45,18%

40%

24,65%

5HSUH]HQWDUH JUDILF

FXUED WHRUHWLF

%CA
100
90
80
70
60
50
40
30
20
10

curba UHDO

B
A

10 20 30 40 50 60 70 80 90 100 %produse

FXUED WHRUHWLF
FXUED UHDO

*UDILF
DFWLYLWDWHD

FXUED

UHDO

vQWUHSULQGHULL

produse. Toate

HVWH
QX

VH

VLWXDW

VXE

FXUED

FRQFHQWUHD]

VXQW SURGXVH LPSRUWDQWH DVWIHO F

OD YkQ]DUH DIHFWHD]

WHRUHWLF 

VHPQLILFDWLY

5H]XOW
SH

DQXPLWH

H[FOXGHUHD XQXL DUWLFRO GH

DFWLYLWDWHD vQWUHSULQGHULL (VWH QHFHVDU

R DSURIXQGDUH D

DQDOL]HL VXE DVSHFWXO HILFLHQ HL JHVWLXQLL VWRFXULORU L D YLWH]HL GH URWD LH D

acestora.
Utilitatea metodei ABC FRQVW

vQ GHILQLUHD SROLWLFLL GH DSURYL]LRQDUH

D vQWUHSULQGHULL SH JUXSH SHQWUX FRPHU  SUHFXP L D SXWHULL GH QHJRFLHUH vQ

UDSRUW FX FOLHQ LLIXUQL]RULL SHQWUX WRDWH GRPHQLLOH

 $QDOL]D IDFWRULDO

D FLIUHL GH DIDFHUL

Scopul analizei factoriaOH

IDFWRUL GH LQIOXHQ

HVWH GHWHUPLQDUHD FRUHOD LHL GLQWUH GLIHUL L

LQWHUQL VDX H[WHUQL GLUH L VDX LQGLUHF L HWF L LQGLFDWRUXO

DQDOL]DW L J VLUHD VROX LLORU SHQWUX UHGUHVDUHD DFWLYLW

LL VDX vPEXQ W

LUHD

SHUIRUPDQ HORU YLLWRDUH

Utilizatorii sunt vQ

SULQFLSDO DJHQ LL HFRQRPLFL LQVWLWX LLOH ILQDQFLDUH

FUHGLWRDUH DF LRQDULL VWDWXO HWF

0HWRGHOH GH DQDOL]
$QDOL]D IDFWRULDO
GRPHQLX

GH

DFWLYLWDWH

IDFWRULL GH LQIOXHQ

D FLIUHL GH DIDFHUL VH UHDOL]HD]

OD

DOWXO

SURGXF LH

FRPHU 

GLIHUHQ LDW GH OD XQ

WXULVP

&D SULQFLSDOH PRGHOH GH DQDOL]

Qf CA

Np Qf
MF MF Qf CA
2) CA = Np

Np MF MF Qf
3) CA = q p

1) CA = Np

4I
0)
0)

vQ

SHQWUX DFWLYLWDWHD LQGXVWULDO

utilizate:

n care:
Np = num

HWF

truct

L UHOD LLOH GH FDX]DOLWDWH VXQW VSHFLILFH

U PHGLX VFULSWLF GH SHUVRQDO

SURGXF LD IDEULFDW 
YDORDUHD PHGLH DQXDO
YDORDUHD PHGLH DQXDO

D PLMORDFHORU IL[H

D PLMORDFHORU IL[H SURGXFWLYH

SRW IL

YROXPXO IL]LF DO SURGXF LHL YkQGXWH

SUH XO PHGLX GH YkQ]DUH SH SURGXV 

Exemplu
DQDOL]D IDFWRULDO

-TVA).

8WLOL]kQG ED]D GH GDWH GLQ WDEHOXO XUP WRU VH YD HIHFWXD

D FLIUHL GH DIDFHUL

Tabelul 2.11
(mil.lei)
Nr.
crt.
1.
2.
3.
4.

Indicatori

Simbol

Cifra de afaceri
3URGXF LD PDUI

24336
23177
520
2400

28881
29470
512
2760

118,67
127,15
98,46
115

DQXDO

CA
Qf
Np
MF

DQXDO

MF

1560

1822

116,79

Qf
Np

44571,153

57560,546

129,14

t
Wh

1872

1850

98,82

25

30,5

122

MF
Np

4615,4

5390,6

116,79

973440

947200

97,3

Wa

46800

56408,2

120,53

MF
MF
Qf
MF
CA
MF
CA
Qf
q1 p 0

65

66

101,53

14,857

16,174

108,86

15,6

15,85

120,83

1,05

0,98

93,33

26223

IDEULFDW

1XP U PHGLX GH SHUVRQDO

9DORDUHD

N1

PHGLH

mijloacelor fixe
5.

9DORDUHD

PHGLH

mijloacelor
productive
6.

fixe

3URGXFWLYLWDWHD

direct

DQXDO

PXQFLL FDOFXODW

vQ IXQF LL GH

7.

Qf (mii lei)
Timpul mediu pe salariat (ore)

8.

3URGXFWLYLWDWHD PHGLH RUDU

SH

baza CA (mii lei)

9.

*UDGXO GH vQ]HVWUDUH WHKQLF

muncii
10.
11.
12.

7LPSXO

WRWDO

GH

PXQF

(om-ore)
ProductiYLWDWHD
DQXDO
D
muncii pe baza CA (mii lei)
Ponderea mijloacelor fixe
direct productive (%)

13.

Randamentul mijloacelor fixe

direct productive (lei)

14.

Cifra de afaceri la 1 leu

mijloace fixe direct productive

15.

Gradul

de

valorificare

SURGXF LHL IDEULFDWH

16.

9ROXPXO SURGXF LHL YkQGXWH vQ

DQXO

HYDOXDW

anului N-1

vQ

SUH XULOH

/D DQDOL]D IDFWRULDO
FLIUD GH DIDFHUL VH SUH]LQW

-a optat pentru modelul al doilea. Schematic,

:

DVWIHO

Np
Qf
Np

MF
MF

$QDOL]D IDFWRULDO

MF
Np

CA

CA
Qf

Qf
MF

HVWH XUP WRDUHD

Modificarea cifrei de afaceri n anul N comparativ cu anul N-1 este:

CA = CA1 CA0
,QIOXHQ D IDFWRULORU
 ,QIOXHQ D PRGLILF ULL QXP UXOXL GH SHU

sonal:

Qf
CA
Np = (Np1 Np 0 )
0
0
Np
Qf
 ,QIOXHQ D PRGLILF ULL SURGXFWLYLW

Qf
Qf
Qf CA
= Np1
Np 1 Np 0 Qf 0

Np

LL PXQFLL
GLQ FDUH GDWRULW 

 0RGLILF ULL JUDGXOXL GH vQ]HVWUDUH WHKQLF

D PXQFLL

MF
MF
MF MF
Qf
CA
= Np1
Np 1 Np 0 MF 0 MF 0 Qf 0

Np

 0RGLILF ULL VWUXFWXULL PLMORDFHORU IL[H:

MF
MF MF
MF Qf
CA

= Np1
1
1
0
0
0
MF
Np MF
MF MF Qf



0RGLILF ULL

UDQGDPHQWXOXL

DFWLYHORU

IL[H

productive
Qf
MF MF Qf
Qf CA

= Np1
1
1
1
0
0
MF
Np MF MF
MF Qf
 ,QIOXHQ D JUDGXOXL GH YDORULILFDUH D SURGXF LHL IDEULFDWH

CA
Qf CA
CA
= Np1
1
Qf 1 Qf 0

Qf
Np

GLUHFW

Sintetic, rezultatele analizei factoriale sunt prezentate n tabelul

XUP WRU

Tabelul 2.12
mil lei
'

2.

-374,4

2.2.

2.3.

MF

Np

MF

MF
430,55

CA
Qf

3.

Qf

MF

4024,55

din care
6983,09

GDWRULW

4545

2.1.

Qf
Np

1. 'Np

CA

2518,98

-2062,97

1RW  'LIHUHQ HOH vQUHJLVWUDWH OD YHULILFDUHD PHWRGHL VXQW JHQHUDWH GH

FDOFXOXO ]HFLPDO XWLOL]DUHD XQXL QXP U OLPLWDW GH ]HFLPDOH
&RQFOX]LL &LIUD GH DIDFHUL D GHS LW YDORDUHD DQXOXL SUHFHGHQW FX
FUHWHUH VH H[SOLF

 PLO OHL $FHDVW



)DFWRUXO

FDQWLWDWLY

VDODULD L L vQ FRQVHFLQ

QXP U

SULQ LQIOXHQ D IDFWRULORU DVWIHO

PHGLX

GH

SHUVRQDO

GLQ SXQFW GH YHGHUH HFRQRPLF 5H]XOW

FDX]

DFFHQW

SXV

XQ

-a redus cu 8

VLWXD LH QRUPDO
D

V D GLPLQXDW L FLIUD GH DIDFHUL FX  PLO OHL

PDL

UHGXV

SH

IDFWRUXO

XPDQ

VRFLHWDWH

GHFkW

vQ

DQXO

a n
-1,

GHS LUHD YDORULL DFHVWHLD GDWRUkQGX

-se n special factorului tehnic.

2. Productivitatea muncii pe un angajat a crescut cu 29,14% iar n

FRQGL LLOH

PHQ LQHULL

FRQVWDQWH

FHORUODO L

IDFWRUL

GH

LQIOXHQ

FLIUD

GH

afaceri a crescut cu 6983,09 mil lei, aceasta fiind de altfel singurul factor cu
DF LXQH GLUHFW

FDUH D LQIOXHQ DW IDYRUDELO LQGLFDWRUXO DQDOL]DW

'H]YROWkQG DQDOL]D SH IDFWRUL GH JUDGXO GRL VH REVHUY

productiviW
WHKQLF

LL

PXQFLL

IRVW

D PXQFLL vPEXQ W

FRQVHFLQ D

FUHWHULL

JUDGXOXL

GH

VSRULUHD
vQ]HVWUDUH

LULL VWUXFWXULL PLMORDFHORU IL[H vQ VHQVXO VSRULULL

SRQGHULL PLMORDFHORU IL[H GLUHFW SURGXFWLYH vQ WRWDO PLMORDFH IL[H L FUHWHULL

HILFLHQ HL

PLMORDFHORU

IL[H

SURGXFWLYH

7R L

IDFWRULL

GH

JUDGXO

GRL

DX

LQIOXHQ DW IDYRUDELO FLIUD GH DIDFHUL

 'HL FLIUD GH DIDFHUL D vQUHJLVWUDW WHQGLQ H IDYRUDELOH ID
SUHFHGHQW VH FRQVWDW

WRWXL F

GH DQXO

ULWPXO GH FUHWHUH D SURGXF LHL IDEULFDWH D

fost superior ritmului de creWHUH D FLIUHL GH DIDFHUL ,CA  L

127,15%) fapt ce s-a reflectat ntr-o majorare a stocurilor de produse.
6RFLHWDWHD WUHEXLH V
SHULRDG

,Qf

LD P VXUL SHQWUX OLFKLGDUHD DFHVWRU VWRFXUL vQWU

YLLWRDUH DVWIHO vQFkW V

VH HYLWH LPRELOL]DUHD GH

-o
resursefinanciare n

stocuri nevandabile sau lent vandabile.

&D P VXUL SHQWUX FUHWHUHD YkQ] ULORU L LPSOLFLW D FLIUHL GH DIDFHUL VH
UHFRPDQG 

GLPHQVLRQDUHD

SURGXF LHL

VWUXFWXULL

DFHVWHLD

vQ

UDSRUW

cu cererea prin ncheierea unor contracte ferme cu beneficiarii;

diversificarea ofertei;

vPEXQ W

2.4.5

LUHD FDOLW

5HIOHFWDUHD

LL SURGXVHORU IDEULFDWH HWF

PRGLILF

ULL

FLIUHL

GH

DIDFHUL

vQ

SULQFLSDOLL

indicatori economico-financiari
0RGLILFDUHD

FLIUHL

GH

DIDFHUL

VH

UHIOHFW

vQ

WR L

LQGLFDWRULL

peUIRUPDQ H L UH]XOWDWH FDUH R LPSOLF vQ FDOFXO

a) Profitul brut
(CA1 CA 0 )pr 0
pr 0 SURILWXO OD XQ OHX FLIU
E 5DWD UHQWDELOLW

GH

GH DIDFHUL

LL HFRQRPLFH

(CA1 CA 0 )pr0

At = active totale

At1
F 9LWH]D GH URWD L

e a activelor circulante

AC 0
AC 0
T
T
CA1
CA 0

d) Eliberarea/imobilizarea de activ

AC = active circulante
FLUFXODQW FD HIHFW DO PRGLILF ULL

YLWH]HL GH URWD LH

AC 0
AC 0 CA1

CA T CA T T

1
0

H (ILFLHQ D XWLOL] ULL PLMORDFHORU IL[H

CA 0
CA1
1000
1000
MF1
MF1

MF = mijloace fixe

I (ILFLHQ D XWLOL] ULL SRWHQ LDOXOXL XPDQ

(CA1 CA 0 )pr 0
Ns1

Ns1

QXP U PHGLX GH VDODULD L

 $QDOL]D YDORULL DG

XJDWH

2.5.1 'HOLPLWDUH FRQFHSWXDO

9DORDUHD
vQWUHSULQGHULL

LQWHUPHGLDUH

DG

GHILQHWH

XJDW

UHSUH]LQW

SURYHQLWH

SOXVXO

GH

OD

GH

WHU L

GLPHQVLXQHD
ERJ

SULQ

LH

UHDO

RE LQXW

SHVWH

YDORULILFDUHD

DFWLYLW

LL

FRQVXPXULOH

WXWXURU

UHVXUVHORU

economice proprii.
2.5.2 Utilitate
D 9DORDUHD DG XJDW

SHUPLWH DSUHFLHUHD FRQWULEX LHL v

ntreprinderii la

UHDOL]DUHD SURGXVXOXL LQWHUQ EUXW L HYLGHQ LHUHD JUDGXOXL GH LQWHJUDUH

SH

YHUWLFDO  SULQ UDSRUWDUHD OD SURGXF LH

b) Beneficiarii

YDORULL DG XJDWH VXQW SHUVRQDOXO DF LRQDULL VWDWXO

LQVWLWX LLOH GH FUHGLW L vQWUHSULQGHUHD

2.5.3 0HWRGH GH GHWHUPLQDUH D YDORULL DG

9DORDUHD DG XJDW

SRDWH IL GHWHUPLQDW

XJDWH

SULQ GRX

PHWRGH VXVWUDFWLY

L DGLWLY
 0HWRGD VXVWUDFWLY
$FHDVW

PHWRG

GLIHUHQ HL

SUHVXSXQH VF GHUHD GLQ SURGXF LD H[HUFL LXOXL VDX

din cifra de afaceri a consumurilor intermediare provenite GH OD WHU L

5HOD LLOH GH FDOFXO VXQW

unde

a1) Qa = Qe C
Qe SURGXF LD H[HUFL LXOXL
C = consumurile intermediare provenite GH OD WHU L
4D

YDORDUHD DG XJDW

$FHDVW

IRUPXO

HVWH YDODELO

vQ FD]XO VRFLHW

LORU FDUH GHVI RDU

DFWLYLWDWH GH SURGXF LH

a2) Qa = (Qe + MC) C

unde

0&

&

PDUMD FRPHUFLDO

FRQVXPXULOH LQWHUPHGLDUH SURYHQLWH GH OD WHU L SHQWUX DFWLYLWDWHD

GH SURGXF LH L FRPHU 

5HOD LD HVWH YDODELO

GH FRPHU

0DUMD FRPHUFLDO
FD GLIHUHQ

SHQWUX vQWUHSULQGHULOH FDUH GHVI RDU

DFWLY

itate

L SURGXF LH
0& HVWH XQ VROG LQWHUPHGLDU GH JHVWLXQH FDOFXODW

vQWUH YDORDUHD

P UIXULORU YkQGXWH L

FRVWXO GH

FXPS UDUH DO

P UIXULORU YkQGXWH

 0HWRGD DGLWLY

0HWRGD DGLWLY

resupune nsumarea XUP

WRDUHORU FRPSRQHQWH

salarii
FRQWULEX LL SHQWUX DVLJXU UL L SURWHF LH VRFLDO
DPRUWL] UL

provizioane
FKHOWXLHOL FX LPSR]LWH L WD[H QX LQFOXGH LPSR]LWXO SH SURILW
UH]XOWDWXO H[SORDW ULL

cheltuieli financiare.

 $QDOL]D GLQDPLFLL L VWUXFWXULL YDORULL DG

6H UHDOL]HD]

SULQ XWLOL]DUHD XUP WRDUHORU SURFHGHH

a) PRGLILFDUHD DEVROXW
Qa = Qa1 Qa0

 UHSUH]LQW

SHULRDGD FXUHQW

 UHSUH]LQW

unde:

XJDWH

ED]D GH FRPSDUD LH

b) LQGLFLL GH GLQDPLF
Qa N
I Qa =
100
Qa 0

I Qa =

Qa N
100
Qa N 1

FX ED]

IL[

L vQ ODQ 

LQGLFL FX ED]

LQGLFL FX ED]

vQ ODQ 

c) UDWHOH YDORULL DG XJDWH

c1) UDWD YDULD LHL YDORULL DG XJDWH
Qa Qa 0
RQa = 1
100 HYLGHQ LD]
Qa 0
YDORULL DG XJDWH ID

GH ED]D GH FRPSDUD LH

IL[ 

PRGLILFDUHD SURFHQWXDO

c2) UDWD YDORULL DG XJDWH JUDGXO GH LQWHJUDUH SH YHUWLFDO

Qa
Qa
100 sau R =
100
R=
CA
Qe
$FHDVW

UDW

HYLGHQ LD]

FRQWULEX LD

UHDOL]DUHD SURGXVXOXL ILQLW (D vQUHJLVWUHD]



vQ

VHFWRUXO

LQGXVWULDO

PDL

DGXV

GH

vQWUHSULQGHUH

YDORUL PDL PDUL SkQ

UHGXVH

SkQ

OD



vQ

OD

la 75
VHFWRUXO

GLVWULEX LHL

c 3)

UDWHOH GH UHPXQHUDUH D YDORULL DG XJDWH GHWHUPLQDWH FD

SRQGHUL DOH HOHPHQWHORU FRPSRQHQWH vQ WRWDO YDORDUH DG XJDW 

a) rata de remunerare a personalului

Salarii + participatii
Rp =
100
Qa
b) rata de remunerare a statului
Im pozite si taxe
Rs =
100
Qa
c) rata de remunerare a creditorilor
Dobanzi
Rc =
100
Qa
G UDWD GH UHPXQHUDUH D DF LRQDULORU

Dividende
100
Qa
e) rata de remunerare a ntreprinderii
Pr ofit net
Ri =
100
Qa
f) rata de remunerare a capitalului tehnic
Cheltuieli cu amortizarea
Rc =
100
Qa
Ra =

(YROX LD
HILFLHQ

DFHVWRU

UDWH

VH

VWXGLD]

vQ

SDUDOHO

FX

DO L

LQGLFDWRUL

GH

SURGXFWLYLWDWHD PXQFLL UDQGDPHQWXO DFWLYHORU LPRELOL]DWH D

6H DSUHFLD]

FD VLWXD LH IDYRUDELO

FUHWHUHD UDWHL GH UHPXQHUDUH D

vQWUHSULQGHULL UHVSHFWLY GHYDQVDUHD ULWPXOXL GH FUHWHUH D YDORULL DG XJDWH GH

F WUH ULWPXO GH FUHWHUH D SURILWXOXL QHW ,Qa

< IPN).

 $QDOL]D IDFWRULDO

D YDORULL DG

XJDWH

Scopul analizei factoriale este determinarea abaterilor valorii

DG XJDWH GH OD ED]D GH FRPSDUD LH HVWLPDUHD FRQWULEX LHL GLIHUL LORU IDFWRUL
GH LQIOXHQ

OD IRUPDUHD L PRGLILFDUHD LQGLFDWRUXOXL DQDOL]DW L LGHQWLILFDUHD

VROX LLORU GH UHGUHVDUH D DFWLYLW

LL HFRQRPLFH YLLWRDUH

0RGHOH GH DQDOL]

C
I) Qa = Qe C = Qe 1
Q = Qe a

Q Qa
= N s Wa a ,
II) Qa = N s e
N s Qe
unde:
a = YDORDUHD PHGLH DG XJDW OD  OHX SURGXF LH D H[HUFL LXOXL
Wa = SURGXFWLYLWDWHD PHGLH DQXDO
&

FRQVXPXUL SURYHQLWH GH OD WHU L

6FKHPD GH DQDOL]

(pentru modelul I)

Ns

T
Qe

Wh

Qa

gi
a
ai
3HQWUX DQDOL]D IDFWRULDO

din tabelul 2.13.

D YDORULL DG XJDWH VH

vor utiliza indicatorii

Tabelul nr. 2.13

(mii lei)
Nr.
crt.
1
2
3
4
5
6

Indicatori

Simbol

&RQVXPXULOH SURYHQLWH GH OD WHU L

9DORDUHD DG XJDW
)RQGXO WRWDO GH WLPS GH PXQF

RUH

1XP UXO PHGLX GH VDODULD L SHUV

Timpul mediu pe un salariat (ore)

9DORDUHD

PHGLH

DG XJDW

OD

OHX

SURGXF LH OHL

9DORDUHD PHGLH DG XJDW

UHFDOFXODW

OHL

OD  OHX SURGXF LH

0HWRGRORJLD GH DQDOL]
ODQ 

26.208.000
11.007.360
15.200.640
1.048.320
560
1.872

30.029.000
12.011.680
18.017.320
1.000.960
544
1.840

25

30

0,58

0,6

0,59

3URGXFWLYLWDWHD PHGLH RUDU

Qe
C
VA
T
Ns

3URGXF LD H[HUFL LXOXL

N-1

Wh
a

rec

SUHVXSXQH DSOLFDUHD PHWRGHL VXEVWLWX LLORU vQ

Qa = Qa1 Qa0
,QIOXHQ D IDFWRULORU

1) ,QIOXHQ D PRGLILF ULL YDORULL SURGXF LHL H[HUFL LXOXL

Q e = Q e1 Q e0 a 0  GLQ FDUH GDWRULW 

1.1.) MRGLILF ULL IRQGXOXL WRWDO GH WLPS GH PXQF

T = (T1 T0 )W h 0 a 0  GLQ FDUH GDWRULW
1.1.1.) 0RGLILF ULL QXP UXOXL PHGLX GH VDODULD L
N s = N s1 N s0 t 0 W h 0 a 0

1.1.2.) 0RGLILF ULL WLPSXOXL PHGLX SH XQ VDODULDW

t = N s1 (t 1 t 0 )W h 0 a 0
1.2.) ModiILF ULL SURGXFWLYLW LL PHGLL RUDUH
Wh = T1 W h1 W h 0 a 0
2. ,QIOXHQ D YDULD LHL YDORULL PHGLL DG XJDWH OD  OHX 4e
a = Q e1 a1 a 0  GLQ FDUH GDWRULW

2.1.) 0RGLILF

ULL VWUXFWXULL SURGXF LHL

g i = Qe1 a rec a0 unde a rec =

2.2.)

g i1 a i0
100

0RGLILF ULL YDORULL DG XJDWH OD  OHX SURGXF LH SH WLSXUL

GH DFWLYLW

a i = Q e1 a1 a rec
6LQWHWLF

UH]XOWDWHOH

DQDOL]HL

IDFWRULDOH

YDORULL

DG XJDWH

VXQW

SUH]HQWDWH vQ WDEHOXO XUP WRU

Tabelul nr. 2.14

mii lei

Qe
(1)
din care:

T
(1.1.)
din
care:

Ns
(1.1.1.)

t
(1.1.2.)

Wh
(1.2.)

2.816.680

2.216.180

-686.720

-434.304

-252.416

2.902784

a1

VA
din care:

gi
(2.1.)

(2)
din care
600.580

(2.2.)

300.290

300.290

1RW  'LIHUHQ HOH vQUHJLVWUDWH vQWUH DEDWHUHD YDORULL DG XJDWH L VXPD

D LQIOXHQ HORU IDFWRULORU VXQW GHWHUPLQDWH GH FDOFXOXO ]HFLPDO DO

DOJHEULF

a (calculul cu GRX

]HFLPDOH

&RQFOX]LL 9DORDUHD DG XJDW

mii lei ID
DFHDVW

HYROX LH VH H[SOLF


&UHWHUHD

DG XJDW

RSRUWXQLW
SH

H[HUFL LXOXL

FRPSRQHQWH

VWRFDW 

crescut sau s-D

DGRSWDW



PLL

FX



GHWHUPLQDW

YDORULL DG XJDWH PHGLL XQ

OHL

3HQWUX

DSUHFLHUH

vQ

spor de

RELHFWLY

LL P ULULL SURGXF LHL H[HUFL LXOXL VH LPSXQH GH]YROWDUHD DQDOL]HL

HOHPHQWH

SURGXF LH

GH

 'LQ SXQFW GH YHGHUH IDFWRULDO

DVWIHO

SURGXF LHL

FRQGL LLOH FRQVLGHU ULL FRQVWDQWH D

YDORDUH

D vQUHJLVWUDW R FUHWHUH FX 

GH ED]D GH FRPSDUD LH 

'DF

SURGXF LH

JUDGXO

PHQ LQXW

FHO

GH

SX LQ

OD

GH VRFLHWDWH SRDWH IL FRQVLGHUDW

'HWDOLHUHD

DQDOL]HL

SH

YkQGXW 

YDORULILFDUH

IDFWRUL

QLYHOXO

SURGXF LH
D

LPRELOL]DW 

SURGXF LHL

DQXOXL

UHDOL]DWH

SUHFHGHQW

SROLWLFD

MXVW 
VHFXQGDUL

SXQH

vQ

HYLGHQ

UROXO

exclusiv al factorilor intensivi (productivitatea muncii). Factorii cantitativi

IRQGXO GH WLPS SH XQ VDODULDW W L QXP UXO PHGLX GH VDODULD L 1V V-au
GLPLQXDW LDU LQIOXHQ D DVXSUD YDORULL DG XJDWH D IRVW vQ DFHODL VHQV (VWH
SRVLELO FD VWUDWHJLD XQLW
WHKQLF

vQ

UHDOL]DUHD

LL V

DFWLYLW

VH IL ED]DW SH DFFHQW
LL

HFRQRPLFH

QX

LQIRUPD LL
 9DORDUHD DG XJDW

comparativ cu N-
cu 600.580 mii lei.
6H FRQVWDW

OD  OHX SURGXF LH

uarea rolului capitalului

VH

GLVSXQH

GH

DVWIHO

GH

(a ) a crescut cu 0,02 n N

IDSW FH D GHWHUPLQDW L PDMRUDUHD YDORULL DG XJDWH WRWDOH

F

D FUHVFXW SRQGHUHD SURGXVHORU FX R YDORDUH DG XJDW

OD

OHX

SURGXF LH

SULQFLSDOHOH

FDWHJRULL

PDL
GH

PDUH

GHFkW

SURGXVH

VLWXD LH IDYRUDELO  UHIOHFWDW

PHGLD

vQWUHSULQGHULL

DG XJDW

YDORDUHD

OD

7RWRGDW 
OHX

vQWU XQ VSRU GH YDORDUH DG XJDW

OD

FUHVFXW

GH 

mii lei.



5HIOHFWDUHD

PRGLILF

ULL

YDORULL

DG

XJDWH

vQ

SULQFLSDOLL

indicatori economico-financiari
0RGLILFDUHD YDORULL DG XJDWH vQ VHQVXO FUHWHULL VDX UHGXFHULL DFHVWHLD

se va refOHFWD vQ DFHODL VHQV DVXSUD WXWXURU LQGLFDWRULORU GH SHUIRUPDQ

D UH]XOWDWXO H[SORDW ULL

(Qa1 Qa0) pra0,

unde: RE0
SUD

pra 0 =

RE 0
,
Qa 0

UH]XOWDWXO H[SORDW ULL

SURILWXO OD  OHX YDORDUHD DG XJDW

b) productivitatea muncii:
Qa1 Qa 0
,
Ns1
unde:

1V

QXP UXO PHGLX GH VDODULD L

F UDWD UHQWDELOLW

LL HFRQRPLFH

(Qa1 Qa 0 )pra 0

100 ,
AT1
unde: AT = valoarea medie a activelor totale
G HILFLHQ D XWLOL] ULL DFWLYHORU IL[H

Qa1 Qa 0
1000 ,
MF1
unde: MF = valoarea medie a mijloacelor fixe
G DO L LQGLFDWRUL

$SOLFD LL L vQWUHE

UL

1. 6 VH LQWHUSUHWH]H HYROX LD DFWLYLW LL GH SURGXF LH

comercializare a ntreprinderii X WLLQG F 
ICA = 108%
unde CA = Cifra de afaceri
IQe = 110%
4H
3URGXF LD H[HUFL LXOXL
4I
3URGXF LD IDEULFDW
H[SULPDW
IQa = 111%
SUH
4D

IQf = 109%

vQ

GH YkQ]DUH

9DORDUHD DG XJDW

2. 6 VH LQWHUSUHWH]H VLWXD LD

I CA
= 1,04
I Qf

I Qa
I Qe
I Qf
I Qe

= 0,98
= 1,2

3. Cum se interpreteaz HYROX LD VWUXFWXULL FLIUHL GH DIDFHUL GDF

G1 = 0,72
unde: * HVWH FRHILFLHQWXO GH VWUXFWXU
Struck
G0 = 0,19
4. &H HYLGHQ LD]
5.

VRFLHWDWHD

VH

Nr.
crt.

&OLHQ L

DQDOL]H]H

FRPHUFLDO

XUP WRDUHD ED]

C1
C2
C3
C4
C5

VWUXFWXUD

GLVSXQH

GH

FLIUHL
R

GH

FOLHQWHO

" 'DU FLIUD PDUJLQDO

DIDFHUL

SH

FOLHQ L

HWHURJHQ 

6H

*LQL

WLLQG

FRQVLGHU

GH GDWH

Cifra de
afaceri

&OLHQ L

ABC
(mil lei)

1
2
3
4
5

FLIUD GH DIDFHUL PLQLP

3500
6200
830
210
99

Cifra de
afaceri
ABC
(mil lei)

Cifra de
afaceri
FXPXODW

(mil lei)

Zona ABC
FOLHQ L

%CA

Nr.
crt.

&OLHQ L

Cifra de
afaceri

&OLHQ L

ABC
(mil lei)

6
7
8
9
10
11
12
13
14
15
16
17
18
19
20

C6
C7
C8
C9
C10
C11
C12
C13
C14
C15
C16
C17
C18
C19
C20
6

Cifra de
afaceri

Cifra de
afaceri
ABC
(mil lei)

Zona ABC

FXPXODW

FOLHQ L

%CA

(mil lei)

76
530
417
570
1200
138
730
890
915
420
94
76
52
5
17
VH WUDVH]H FXUED UHDO

$%& V

VH FRPSDUH FX FHD WHRUHWLF

L V

VH LQWHUSUHWH]H UH]XOWDWHOH RE LQXWH

6. 6 VH GHWHUPLQH LQIOXHQ D PRGLILF ULL SURGXFWLYLW LL PXQFLL DVXSUD

cifrei de afaceri L V VH LQWHUSUHWH]H FD]XO LQIOXHQ HL FX VHPQXO 
7.

&H VHPQLILFD LH HFRQRPLF

FXUED WHRUHWLF

8.
LQGLFHOH

DUH SODVDUHD FXUEHL UH

ale ABC sub

$%&

&DUH D IRVW WHQGLQ D FLIUHL GH DIDFHUL vQ WHUPHQL UHDOL WLLQG F

&$

vQ

SUH XUL

FXUHQWH

HVWH

GH



LDU

LQGLFHOH

SUH XULORU

GH

vnzare este de 148%.

9.
WHKQLF

VH

GHWHUPLQH

LQIOXHQ D

PRGLILF ULL

D PXQFLL DVXSUD FLIUHL GH DIDFHUL 6

JUDGXOXL

VH LQWHUSUHWH]H

GH

vQ]HVWUDUH

MF/Ns = -x

mii lei.
10. Care sunt partenerii sociali la repartizarea valoULL DG
11. 'DF ,Qa
ntreprinderii?
(IQa LQGLFHOH YDORULL DG



XJDWH ,Pr

,Pr

XJDWH

= 114%, cum aprecLD L

= indicele profitului).

DFWLYLWDWHD

12.
F

&H HVWH JUDGXO GH LQWHJUDUH SH YHUWLFDO

HVWH PDL PDUH L GH FH

" Q FH GRPHQLL DSUHFLD L

13. Ce includ consuPXULOH LQWHUPHGLDUH GH OD WHU L?

14. 6 VH LQWHUSUHWH]H FD]XO
IQa = 114%
unde:
IQe = 126%
Ichs = 119%
15.

VH

GHWHUPLQH

Chs = cheltuieli cu personalul

4D

YDORDUHD DG XJDW

4H

SURGXF LD H[HUFL LXOXL

LQIOXHQ D

PRGLILF ULL

H[HUFL LXOXL SH SURGXVH VDX SH WLSXUL GH DFWLYLW

Interpretare pentru cazul gi = -y mii lei.

16. 6

17.

SURGXF LHL

VH GHWHUPLQH LQIOXHQ D PRGLILF ULL WLPSXOXL PHGLX GH OXFUX SH

DVXSUD YDORULL DG XJDWH &D]X

R SHUVRDQ

VWUXFWXULL

L DVXSUD YDORULL DG XJDWH

&H

VHPQLILFD LH

DUH

QRPHQFODWXU 

.n

l : t = +z mii lei.

= 0,65% ? (Kn = coeficientul de

18. 6 VH LQWHUSUHWH]H FD]XO

Ks = 0,98
unde Ks = coeficientul de sortiment
Kstr = 0,99
Kstr FRHILFLHQWXO GH VWUXFWXU
Iq = 110%
Iq = indicele volumulXL SURGXF LHL
ntreprindere
19.
K pentru:

()

&H

VHPQLILFD LH

DUH

HYROX LD

FRHILFLHQWXOXL

PHGLX

GH

SH

WRWDO

FDOLWDWH

K 1 = 1,72
K 0 = 1,54
20.

VH

GHWHUPLQH

LQIOXHQ D

PRGLILF ULL

VWUXFWXULL

IDEULFDWH DVXSUD FRHILFLHQWXOXL PHGLX JHQHUDOL]DW DO FDOLW

21. 6 VH LQWHUSUHWH]H HYROX LD FDOLW LL SURGXF LHL WLLQG F

unde:
p1 = 79.520 lei/buc
p SUH XO PHGLX

p 0 = 66.417 lei/buc

SURGXF L

LL


ei

22. &XP LQIOXHQ HD]

rezultate?

FRHILFLHQWXO GH VRUWLPHQW" 'DU FHO GH VWUXFWXU

Cantitate (buc)
Programat
76.000

Realizat
80.000

55.300

59.000

49.700

45.000

181.000

184.000

Structura

Fw wp"R$

Clasa
de
calitate
Clasa I
Clasa
a II-a
Clasa
a III-a
TOTAL

VH DQDOL]H]H HYROX LD FDOLW

Programat Realizat

Coeficient
de

6 $RR

24. 3H ED]D GDWHORU V

LL SURGXVXOXL [

$e

23. Ce eviden LD]

FDOLWDWHD DVXSUD LQGLFDWRULORU GH SHUIRUPDQ H L

echivalente
Programat Realizat

3
$1$/,=$ &26785,/25 '( 352'8&

5HGXFHUHD DEVROXW
SRDWH IL FRQFHSXW
vQ

RULFH

L UHODWLY

D FRVWXULORU GH SURGXF LH GH SULQFLSLX

QXPDL DFROR XQGH H[LVW

vQWUHSULQGHUH

H[LVW

DVHPHQHD

UH]HUYH vQ DFHVW VHQV

UH]HUYH

GHWHUPLQDWH

FRQWLQXX DO IDFWRULORU GH SURGXF LH GH DSOLFDUHD vQ SUDFWLF

FHUFHW ULORU

WLLQ LILFH

3XQHUHD

,(

ORU

vQ

YDORDUH

HVWH

Teoretic,
e progresul

D UH]XOWDWHORU

FRQGL LRQDW

GH

FXQRDWHUHD H[LVWHQ HL DFHVWRUD D GLPHQVLXQLL ORU L GH DF LXQHD IDFWRUXOXL

uman pentru materialL]DUHD P

VXULORU VWDELOLWH

&RQGXFHUHD SULQ FRVWXUL LPSOLF

QRUPDOH

FDUH

FRQVWLWXLH

FULWHULXO

VWDELOLUHD XQRU FRVWXUL FRQVLGHUDWH

SHUPDQHQW

GH

FRPSDUD LH

comportamentului diferitelor categorii de cheltuieli.

&H UHSUH]LQW

FRVWXULOH QRUPDOH " (VWH JUHX GH GDW R GHILQL LH VDX R

PRGDOLWDWH GH SUHVWDELOLUH 7HRULD L SUDFWLFD PRQGLDO

FRQVLGHU

FD ILLQG

costuri normale:

standardele de cheltuieli stabilite pe baza tehnologiilor de

IDEULFD LH

FDUH

DVLJXU

RE LQHUHD

SURGXVHORU

OD

SDUDPHWULL

SURLHFWD L

nivelXO

FHO

PDL

VF ]XW

GH FKHOWXLHOL vQUHJLVWUDWH vQ UDPXUD

GH

DFWLYLWDWH UHVSHFWLY 

FRVWXULOH

FDUH DVLJXU

XQ SURILW QHW DQXDO HFKLYDOHQW

DIHUHQWH FDSLWDOXOXL SURSULX Q OHJ WXU

FX DFHDVW

OLWHUDWXUD GH VSHFLDOLWDWH VH GDX DQXPLWH P UL

GREkQ]LL

SUREOHP  vQ

mi, ca de exemplu

12% din capitalul propriu.

,PSRUWDQW HVWH FD vQ ILHFDUH vQWUHSULQGHUH V
DO

FRVWXULORU

FDUH

ILH

vQ

SHUPDQHQ

DGDSWDW

H[LVWH XQ SURJUDP SODQ

FRQGL LLORU

FRQFUHWH

DOH

PRPHQWXOXL

FRQVWLWXLQG

ED]D

GH

UDSRUWDUH

SHQWUX

UHDOL] ULOH

ILHF

rei

perioade.
Q

DERUGDUHD

FKHOWXLHOL WUHEXLH V
IXQF LRQDUH

EXQD

GLVIXQF LRQDOLW
FKHOWXL

VDX

SUREOHPDWLFLL
VH SRUQHDVF

QX

ILUPHL

&D

L

DWDUH

2ULFH
D

FRQVXPD

FRVWXULORU

ILHF UHL

FDWHJRULL

GH

GH OD IXQF LLOH SH FDUH DFHVWHD OH DX vQ

VXSUD

HFRQRPLVL

FHHD

FH

VDX
QX

HVWH

VXEGLPHQVLRQDUH

vQWRWGHDXQD

IRDUWH

SUREOHPD L vQ VHQVXO XUP WRU FkW VH SLHUGH GDF

FUHHD]

vQVHDPQ

VLPSOX

FL

WUHEXLH

QX

SXV

QX VH FKHOWXLH  OHX 

etc.) n plus.
,QWHJUDW

vQ DFWLYLWDWHD SUDFWLF

GH FRQGXFHUH WHPDWLFD

cheltuielilor

GH SURGXF LH HVWH R SUREOHP

LQWHUQ

D ILHF UHL vQWUHSULQGHUL FDUH WUHEXLH V

ILH

cadru

legislativ

FLUFXPVFULV

RUJDQL]DWRULFH

vQWU

DOH

-un

HYLGHQ HL

FRQWDELOLW

SUHFXP

FKHOWXLHOL

pentru unele categorii de

general

QLYHOXUL
$D

viznd

QRUPDWH

GH

aspecte

UHJOHPHQWDWH

H[HPSOX

SULQ

/HJHD

LL 1U  L +* ;,, SULQ FDUH V

-a aprobat

UHJXODPHQWXO GH DSOLFDUH D OHJLL L SODQXO FRQWDELO JHQHUDO V D SUHY ]XW

clasa 9 Conturi de gestiune.

Asemenea aspecte sunt elemente importante ale conducerii micro
sau macroeconomice prin intermediul prghiilor economico-financiare.
Q

FHHD

FH

DFHDVWD WUHEXLH V

SULYHWH

ILH SULQ H[FHOHQ

intern al firmeL FDUH V

0RGDOLW
DQDOL]

DFWLYLWDWHD

LOH

SUDFWLF

GH

R FRPSRQHQW

DQDOL]

PDMRU

FKHOWXLHOLORU

D PDQDJHPHQWXOXL

DVLJXUH UHDOL]DUHD XQRU FRVWXUL FRPSHWLWLYH

GH

UHDOL]DUH

UHVSHFWLY

GH

RUJDQL]DUH

PXQFLL

GH

D SUREOHPDWLFLL DERUGDWH VXQW GLIHULWH vQ UDSRUW GH VFRS L VXELHFWXO

FDUH R UHDOL]HD] 
&X WRDWH DFHVWHD H[LVW
RIHU

R PHWRGRORJLH GH DQDOL]

D FKHOWXLHOLORU FDUH

XQ FDGUX JHQHUDO SRVLELO GH DGRSWDW GH F WUH XWLOL]DWRUL 3ULQFLSDOHOH

DVSHFWH FDUH VH DERUGHD]

vQ FRQWLQXDUH VXQW

3.1 Analiza cheltuielilor aferente veniturilor ntreprinderii

5HDOL]DUHD

XQXL

YHQLW

L

UHVSHFWLY

SURILW

LPSOLF

HIHFWXDUHD

FKHOWXLHOL Q FRQWDELOLWDWHD ILQDQFLDU  FKHOWXLHOLOH VH vQUHJLVWUHD]

GH FKHOWXLHOL GXS

QDWXUD ORU L VH JUXSHD]

GH

SH IHOXUL

vQ

a) cheltuieli de exploatare care cuprind categoriile de consumuri privind

realizarea RELHFWXOXL GH DFWLYLWDWH L FHOH DIHUHQWH DFHVWRUD ([HPSOX
provizioanele pentru diverse cheltuieli);
b) cheltuieli financiare FDUH LQFOXG SLHUGHULOH GH FUHDQ H OHJDWH

GH SDUWLFLSD LL GLQ YkQ]DUHD WLWOXULORU GH SODVDPHQW GREkQ]L HWF YL]HD]

activiWDWHD ILQDQFLDU
F

FKHOWXLHOL

vQ DIDUD H[SORDW ULL

H[FHS LRQDOH

QRUPDO  VH UHIHU

FDUH

QX

VXQW

OHJDWH

(YLGHQ D DFHVWRU FKHOWXLHOL VH UHDOL]HD]

grupa 6

GH

DFWLYLWDWHD

FXUHQW 

OD GHVS JXELUL DPHQ]L SHQDOL] UL GRQD LL VXEYHQ LL HWF

FX DMXWRUXO FRQWXULOR

FRQWXUL GH FKHOWXLHOL FDUH VH GH]YROW

r din

SH DQDOLWLFH GH JUDGXO ,,,

L ,9
9HQLWXULOH vQWUHSULQGHULL UHSUH]LQW
FXUVXO H[HUFL LXOXL L VH JUXSHD]

VXPHOH vQFDVDWH VDX GH vQFDVDW vQ

vQ

a) venituri din exploatare n care se includ venituriOH UHDOL]DWH GLQ

FDUH

IRUPHD]

RELHFWXO

SURGXF LH VWRFDW

GH

DFWLYLWDWH

OD

FDUH

VH

DGDXJ

RSHUD LLOH

YHQLWXULOH

GLQ

L LPRELOL]DW  SUHFXP L DOWH YHQLWXUL OHJDWH GH H[SORDWDUH

E YHQLWXUL ILQDQFLDUH vQ FDUH VH LQFOXG YHQLWXULOH GLQ SDUWLFLSD LL GLQ DOW

LPRELOL] UL GLQ WLWOXUL GH SODVDPHQW HWF

F YHQLWXUL H[FHS LRQDOH GHVS JXELUL SHQDOLW
(YLGHQ D YHQLWXULORU VH UHDOL]HD]

L vQFDVDWH HWF

FX DMXWRUXO FRQWXULORU GLQ FODVD

7 Conturi de venituri.
Q JHQHUDO VH SRDWH IDFH R FRUHOD LH vQWUH YHQLWXUL L FKHOWXLHOL vQ
VHQVXO

UHDOL]DUHD

XQXL

YHQLW

SUHVXSXQH

HIHFWXDUHD

XQHL

FKHOWXLHOL

VDX

LQYHUV 'DU VXQW L H[FHS LL $D GH H[HPSOX FKHOWXLHOLOH ILQDQFLDUH GH

UHJXO  QX JHQHUHD]

YHQLWXUL LDU UHDOL]DUHD DFHVWRUD QX SUHVXSXQH FKHOWXLHOL

$FHOHDL UHJXOL OH DX L XQHOH FKHOWXLHOL L YHQLWXUL H[FHS LRQDOH

$QDOL]D

FKHOWXLHOLORU

DIHUHQWH

YHQLWXULORU

YL]HD]

IDFWRULL FDUH R GHWHUPLQ  vQ YHGHUHD LGHQWLILF ULL SRVLELOLW

vQ VFRSXO VSRULULL UHQWDELOLW
DFHDVW

DQDOL]

UHSUH]LQW

L ,QWHJUDW
R

SULP

YHQLWXUL & FDUH VH GHWHUPLQ

vQ DFWLYLWDWHD SUDFWLF

HWDS

FKHOWXLHOLORU Q DFHVW VFRS VH XWLOL]HD]

GH

LQIRUPDUH

i =1
n

Vi

1000

sau

GH JHVWLXQH

DVXSUD

GLQDPLFLL

FD UDSRUW vQWUH FKHOWXLHOLOH WRWDOH 

C=

ORU

LQGLFDWRUXO &KHOWXLHOL OD  OHL

venituri (Vi)

chi

HYROX LD

LORU GH GLPLQXDUH

C=

g i ci
100

i =1

n care:
gi UHSUH]LQW VWUXFWXUD YHQLWXULORU SH FDWHJRULL
ci = cheltuieli la 1000 lei venituri pe categorii de venituri.

chi

'H DLFL UH]XOW

ID

GH R ED]

GH UHIHULQ

cheltuieliORU OD  OHL YHQLWXUL VH GDWRUHD]

 PRGLILFDUHD QLYHOXOXL

LQIOXHQ HL VWUXFWXULL YHQLWXULORU

L D QLYHOXOXL FKHOWXLHOLORU OD  OHL SH FDWHJRULL GH YHQLWXUL

3HQWUX

VHSDUDUHD

FHORU

GRX

LQIOXHQ H

HVWH

QHFHVDU

UHFDOFXODUHD

FKHOWXLHOLORU OD  OHL vQ IXQF LH GH VWUXFWXUD QLYHOXOXL FRPSDUDW L D UDWHORU

SH FDWHJRULL GH YHQLWXUL GLQ ED]D GH UHIHULQ

3HQWUX H[HPSOLILFDUH VH IRORVHVF XUP WRDUHOH GDWH 7DEHOXO  GDWH

H[WUDVH GLQ FRQWXO GH SURILW L SLHUGHUH OD 6& ; 6$

Tabelul 3.1
(mil. lei)
Perioada

Nr.
crt.
1.
2.
3.
4.
5.
6.
7.

6SHFLILFD LH

Cheltuieli de exploatare
Cheltuieli financiare
&KHOWXLHOL H[FHS LRQDOH

TOTAL cheltuieli
Venituri din exploatare
Venituri financiare
9HQLWXUL H[FHS LRQDOH

TOTAL venituri
Cheltuieli la 1000 lei venituri (lei)
a) de exploatare
b) financiare
F H[FHS LRQDOH

TOTAL
1RW

 FLIUHOH GLQ SDUDQWH]

Q FD]XO GDW UH]XOW

SUHYHGH

VSRULUH

3UHY ]XW

Pn-1
3000
250
150
3400
3680 (92)
160 (4)
160 (4)
4000

P0
3500
300
170
3970
4218 (90)
328 (7)
141 (3)
4687

Realizat
P1
3800
280
180
4260
4630 (94)
196 (4)
99 (2)
4925

815,22
1562,50
937,50
850,00

829,72
914,63
1205,67
847,00

820,73
1428,56
1818,18
864,97

UHSUH]LQW

VWUXFWXUD YHQLWXULORU

F  ID

GH UHDOL] ULOH SHULRDGHL SUHFHGHQWH VH

HILFLHQ HL

(respectiv, o diminuare a nivelului

cheltuielilor), nregistrndu-VH vQ IDSW R VLWXD LH

metodologic, o asWIHO GH VWDUH VH H[SOLF DVWIH
 0RGLILFDUH ID

3HULRDGD FXUHQW

SUHFHGHQW

LQYHUV 

6XE

GH FULWHULXO GH FRPSDUD LH

P0 Pn-1
847 850 = -3,0 lei

P1 P0
864,97 847 = + 17,97 lei

DVSHFW

 ,QIOXHQ D VWUXFWXULL YHQLWXULORU

0,90 815,22 = 733,70

0,07 1562,50 = 109,38
28,12
0,03 937,50 =
871,2
871,2 850 = +21,20 lei;

0,94 829,77 = 779,98

0,04 914,63 = 36,59
24,11
0,02 1205,57 =
840,68
840,68 847 = - 6,32 lei

3 ,QIOXHQ D QLYHOXOXL FKHOWXLHOLORU OD  OHL YHQLWXUL SH FDWHJRULL GH

venituri
847 871,20 =
$FHVWH GDWH DWHVW

24,20
3,0 lei

864,97 840,68 =

IDSWXO F

+ 24,29
+ 17,97 lei

V D DYXW vQ YHGHUH DPSOLILFDUHD HILFLHQ HL

cheltuielilor pe seama reducerii cheltuielilor pe categorii de venituri, care a

vQUHJLVWUDW vQV
FD

IDFWRU

GH

R HYROX LH LQYHUV  Q FHHD FH SULYHWH VWUXFWXUD YHQLWXULORU

LQIOXHQ

GH

SULQFLSLX

WUHEXLH

H[SOLFDUH D UH]XOWDWXOXL ILLQG R UH]XOWDQW

FRQVLGHUDW

FD

XQ

IDFWRU

GH

D GLQDPLFLL YHQLWXULORU $FH

asta nu
exclude posibilitatea folosirii acestui factor ca mijloc de realizare a unui
RELHFWLY GDF

H[LVW

FRQGL LL IDYRUL]DQWH

Q DFWLYLWDWHD SUDFWLF

OXDUHD

WUHEXLH DYXWH vQ YHGHUH

vQ FRQVLGHUDUH

bazei de compDUD LH

D LQIOD LHL FHHD

FH SUHVXSXQH

FX XQ FRHILFLHQW FDUH V

FRUHFWDUHD

UHIOHFWH FRUHOD LD

GLQWUH FUHWHUHD SUH XULORU WXWXURU FDWHJRULLORU GH UHVXUVH FX FDUH

VH DSURYL]LRQHD]

vQWUHSULQGHUHD ,FKL L GLQDPLFD SUH XULORU SH

VHDPD F URUD VH IRUPHD]

'DF

,FKL



L ,vi

110
847
= 887,3 lei.
105

(VWH HYLGHQW F  ID

= 1

YHQLWXULOH ,vi

GH DFHDVW

).

 DWXQFL ED]D GH FRPSDUD LH YD IL

ED]

GH UDSRUWDUH UH]XOWDWXO RE LQXW

HVWH IDYRUDELO GDU HO WUHEXLH LQWHUSUHWDW vQ VHQVXO F

IL LQWHUYHQLW PRGLILF

V DU IL RE LQXW GDF

ULOH GH SUH XUL independente de ntreprindere.

QX DU

H[SOLFDUHD SH ILHFDUH FDWHJRULH GH YHQLWXUL D HYROX LHL HILFLHQ HL

vQ IXQF LH GH IDFWRULL VSHFLILFL FDUH R LQIOXHQ HD]  PDL DOHV vQ
VLWXD LL FD FHD GLQ H[HPSOXO GDW vQ FDUH FKHOWXLHOLOH ILQDQFLDUH L
FHOH H[FHS LRQDOH GHS

esF VXEVWDQ LDO YHQLWXULOH

0RGDOLW

LOH GH DQDOL]

YRU IL SUH]HQWDWH SH SDUFXUV

Modificarea nivelului cheltuielilor totale la 1000 lei venituri se

UHIOHFW

vQ P ULPHD UH]XOWDWXOXL H[HUFL LXOXL vQDLQWH GH LPSR]LWDUH

(IHFWXO VH GHWHUPLQ

FX DMXWRUXO UHOD LHL

4925
vi
(C1 C 0 )
= (864,57 847 )
= 88,5 mil. lei
1000
1000

FHHD FH vQVHDPQ

R GLPLQXDUH D UH]XOWDWXOXL ID

GH FHO SUHY ]XW SULQ EXJHWXO

QHIDYRUDELO

GH YHQLWXUL L FKHOWXLHOL (YLGHQW R DVHPHQHD LQIOXHQ

SULQ

FRPSHQVDW

PDVD

YHQLWXOXL

FDUH

FRQVWLWXLH

DOWHUQDWLY

SRDWH IL

SHQWU

u un

anumit orizont.
3.2 Analiza cheltuielilor de exploatare
&KHOWXLHOLOH GH H[SORDWDUH GH LQ SRQGHUHD FHD PDL PDUH HOH ILLQG vQ
OHJ WXU

GLUHFW

FX RELHFWXO GH DFWLYLWDWH DO vQWUHSULQGHULL FRQVWLWXLQG DVWIHO

GRPHQLXO SULQFLSDO vQ FDUH VH SRW LQL LD L UHDOL]D FHOH PDL LPSRUWDQWH P VXUL
GH VSRULUH D HILFLHQ HL HFRQRPLFH

Cheltuielile de exploatare cuprind, potrivit prevederilor art. 96 din

5HJXODPHQWXO GH DSOLFDUH D /HJLL FRQWDELOLW

LL XUP WRDUHOH HOHPHQWH

cheltuieli privind consumurile de materii prime, materiale,

FRPEXVWLELO HQHUJLH L HOHPHQWH DVLPLODWH
FKHOWXLHOLOH

FX

OXFU ULOH

VHUYLFLLOH

SUHVWDWH

GH

WHU L

FKLULL

ORFD LL GH JHVWLXQH DOWH FKHOWXLHOL

FKHOWXLHOL

FX

LPSR]LWHOH

WD[HOH

VXSRUWDWH

GH

XQLWDWHD

SDWULPRQLDO 

cheltuieli cu personalul;
alte cheltuieli de exploatare.

DQDOL]D

FKHOWXLHOLORU

GH

H[SORDWDUH

VH

IRORVHWH

QLYHOXO

ORU

OD

1000 lei venituri din exploatare, ca parte a ntregului folosit anterior,

XUP ULQGX-VH GLQDPLFD L PRGLILF ULOH LQWHUYHQLWH vQ VWUXFWXUD FKHOWXLHOilor.
Acest lucru este important att pentru formarea imaginii asupra modului n
care s-D UHDOL]DW SURJUDPXO VWDELOLW L vQ VSHFLDO SHQWUX LGHQWLILFDUHD
FDWHJRULLORU

GH

FKHOWXLHOL

factorilor de decizie.
ntruckW GLQDPLFD
FXQRVFXW
IXQF LH

GH

GLQ

SDUDJUDIXO

QDWXUD

FDUH

QHFHVLW

HILFLHQ HL
DQWHULRU

FKHOWXLHOLORU

VH

DWHQ LH

FKHOWXLHOLORU
YD

DIHUHQWH

SUH]HQWD
SURGXF LHL

GHRVHELW
GH

GLQ

SDUWHD

H[SORDWDUH

DQDOL]D
WRWDOH

HVWH

VWUXFWXUDO 
D

vQ

H[HUFL LXOXL

ILQDQFLDU LQFOXVLY FRVWXO P UIXULORU YkQGXWH vQ FRUHOD LH FX YDORDUHD ORU

Q DFHVW VFRS SH ED]D GDWHORU GLQ FRQWXO GH SURILW L SLHUGHUH L DOWH

VXUVH VH vQWRFPHWH WDEHOXO XUP WRU WDEHOXO 

):
Tabelul 3.2

Nr.
crt.

Cheltuieli la 1000 lei venituri din

exploatare (lei

6SHFLILFD LH

Perioada
SUHFHGHQW

&RVWXO P UIXULORU YkQGXWH

(ct. 607)
2

0DWHULL

SULPH

PDWHULDOH

consumabile (ct. 600 + 601)

3
4

&RPEXVWLELOL HQHUJLH L DS

(ct. 605)
Alte cheltuieli
(ct. 602, 603, 604, 606,
608)

3UHY

]XW

0RGLILF UL

Realizat

col. 4

col. 2

col. 4

col. 3

427,49

449,889

444,55

+17,15

-5,32

86,82

86,54

85,37

-1,45

-1,17

28,86

28,63

27,58

-1,28

-1,05

11,07

8,30

12,48

+1,41

+4,18

8,09

8,80

11,90

+3,81

+3,10

178,76

181,20

165,40

-13,36

-15,80

55,41

43,15

51,22

-4,19

+8,07

1,10

1,23

+0,13

+1,23

17,62

23,23

21,00

+3,38

-2,23

820,73

+5,60

-8,99

/XFU UL L VHUYLFLL H[HFXWDWH

GH WHU L FW  OD  

ct. 621 la 628)

6
7
8

,PSR]LWH WD[H L Y UV PLQWH

asimilate (ct. 631 + 635)

Salarii personal (ct. 641)
$VLJXU UL
VRFLDO

9
10

SURWHF LH

FW 

Alte cheltuieli de exploatare

(ct. 654 + 658)
$PRUWL] UL L SURYL]LRDQH

(ct. 681)
TOTAL

815,22

'LQ GDWHOH DVWIHO VWUXFWXUDWH UH]XOW

829,72
F  ID

GH SUHYHGHUHD GH FUHWHUH

a cheltuielilor de exploatare la 1000 lei venituri, s-a realizat o reducere pe

WRWDO

FDWHJRULL

GH

FKHOWXLHOL

([FHS LH

IDF

XQHOH

FKHOWXLHOL

GDU

QX

DX

SRQGHUL vQVHPQDWH DOWH FKHOWXLHOL GH H[SORDWDUH DVLJXU UL L SURWHF LH VRFLDO

etc.).
ntr-R DVHPHQHD VLWXD LH vQ DFWLYLWDWHD SUDFWLF  GLQ SXQFW GH YHGHUH
metodologic, estH QHFHVDU V VH DQDOL]H]H ILHFDUH FKHOWXLDO  LQGLIHUHQW GH
HYROX LD HL vQ VFRSXO LGHQWLILF ULL SRVLELOLW
IL SUH]HQWDW

LORU GH UHGXFHUH PHWRGRORJLD YD

vQ DOWH SDUDJUDIH

$QDOL]D HILFLHQ HL FKHOWXLHOLORU GH H[SORDWDUH SRDWH IL HIHFWXDW

vQ

raport de fRUPDUHD YHQLWXULORU L QLYHOXO FKHOWXLHOLORU SH FDWHJRULL GH YHQLWXUL

Q DFHVW VFRS GDWHOH QHFHVDUH VH SUH]LQW

DVWIHO

Tabelul 3.3
(mil. lei)
Nr.
crt.
1

SUHFHGHQW

4007 (95)

184 (5)
110 (3)
3000
2706
184
110

42 (1)
169 (4)
3500
3289
42
169

Realizat
4630
4375
(94,5)
162 (3,5)
93 (2)
3800
3545
162
93

815,22

829,72

820,73

799,17
1000

820,81
1000

810,29
1000

3URGXF LHL VWRFDWH

10
11

3URGXF LHL LPRELOL]DWH

Cheltuieli din exploatare, din care aferente:

3URGXF LHi vndute
3URGXF LHL VWRFDWH
3URGXF LHL LPRELOL]DWH

Cheltuieli de exploatare la 1000 lei

venituri (lei) din care aferente:
3URGXF LHL YkQGXWH
$IHUHQWH SURGXF LHL VWRFDWH L LPRELOL]DWH

1RW

]XW

4218

3386 (92)

3URGXF LHL YkQGXWH

3
4
5
6
7
8
9

3UHY

3680

Venituri din exploatare, din care aferente:

3HULRDGD FXUHQW

Perioada

Indicatori

&LIUHOH

GLQ

SDUDQWH]

UHSUH]LQW

VWUXFWXUD

YHQLWXULORU

vQ

procente.
Q DQDOL]D FKHOWXLHOLORU GH H[SORDWDUH
WUHEXLH V
VWRFDW

VH

LQ

vQ IXQF LH GH FULWHULXO DPLQWLW

VHDPD GH PRGXO GH IRUPDUH D YHQLWXULORU GLQ SURGXF LD

L LPRELOL]DW  UHVSHFWLY HYDOXDUHD vQ FRVWXUL FHHD FH FRQGXFH OD XQ

QLYHO DO FKHOWXLHOLORU OD  OHL Q FRQVHFLQ

GRX

 R FUHWHUH D SRQGHULL DFHVWRU

HOHPHQWH DUH FD HIHFW GLPLQXDUHD HILFLHQ HL FKHOWXLHOLORU GH H[SORDWDUH

Din puncW
VWUXFWXULL

GH

YHQLWXULORU

YkQGXWH VH SURFHGHD]

YHGHUH

GH

FHD

PHWRGRORJLF
D

QLYHOXOXL

SHQWUX

FKHOWXLHOLORU

GHOLPLWD
DIHUHQWH

LQIOXHQ D
SURGXF LHL

FD vQ FD]XO SUHFHGHQW UHVSHFWLY VH IDFH UHFDOFXODUHD

cheltuielilor la 1000 lei venituri de exploatare.

1. Modificarea cheltuielilor la 1000 lei venituri din exploatare (lei),
P0 Pn-1
829,72 815,22 = 14,50 lei

P1 P0
820,73 829,72 = -8,99 lei

 ,QIOXHQ D VWUXFWXULL YHQLWXULORU GLQ H[SORDWDUH

0,95 799,17 = 759,21

50,0
0,05 1000
809,21
809,21 815,22 = -6,01 lei

0,945 820,81 = 775,67

55,0
0,055 1000
830,67
830,67 829,72 = +0,95 lei



,QIOXHQ D

FKHOWXLHOLORU

OD



OHL

YHQLWXUL

DIHUHQWH

SURGXF LHL

vndute
829,72 809,21 = +20,51
$QDOL]D GDWHORU HYLGHQ LD]
vQ

PLQXV

VDX

LQIOXHQ D

SOXV

820,73 830,67 = -9,94

IDSWXO F

H[HUFLWDW

VWUXFWXUD YHQLWXULORU FRUHFWHD]

GH

QLYHOXO

FKHOWXLHOLORU

DIHUHQWH

SURGXF LHL YkQGXWH FDUH FRQVWLWXLH HOHPHQWXO SULQFLSDO DO FKHOWXLHOLORU GH

exploatare.
Q FHHD FH SULYHWH HYROX LD SURGXF LHL VWRFDWH L LPRELOL]DWH WUHEXLH
V

VH IDF

GLVWLQF LH vQWUH YROXPXO IL]LF L FRVWXO DIHUHQW vQWUXFkW DFHVWHD DX

VHPQLILFD LH
SURGXF LHL

perioadHL

FDX]H

VWRFDWH

L
L

DQWHULRDUH

HIHFWH

GLIHULWH

UHVSHFWLY

VDX

FX

SUHYHGHULOH

FRQMXQFWXUDOL DL SLH HL VDX GH DOW

$VWIHO

LPRELOL]DWH
QDWXU

SRDWH

FUHWHUHD

FRPSDUDWLY
IL

VDX
FX

GHWHUPLQDW

VF GHUHD
UHDOL] ULOH
GH

IDFWRUL

VDX RS LXQH D FRQGXFHULL SHQWUX

realizarea unor obiective viitoare. Modificarea costurilor aferente este

GHWHUPLQDW
GH IDFWRUL VSHFLILFL UHIOHFWkndu-VH FRUHVSXQ] WRU vQ UH]XOWDWXO
H[HUFL LXOXL $VHPHQHD DVSHFWH SRW IL VROX LRQDWH SULQ FRUHODUHD GDWHORU GLQ
FRQWDELOLWDWHD JHQHUDO

ILQDQFLDU  FX FHOH GLQ FRQWDELOLWDWHD GH JHVWLXQH

DQDOLWLF 

 $QDOL]D FKHOWXLHOLORU OD  OHL FLIU

GH DIDFH

ri

3RWULYLW UHJOHPHQW ULORU vQ YLJRDUH FLIUD GH DIDFHUL VH FDOFXOHD]

SULQ

vQVXPDUHD YHQLWXULORU UH]XOWDWH GLQ OLYU ULOH GH EXQXUL H[HFXWDUHD GH OXFU UL

L SUHVW ULOH GH VHUYLFLL L DOWH YHQLWXUL GLQ H[SORDWDUH PDL SX LQ UDEDWXULOH L
UHPL]HOH L DOWH UHGXFHUL DFRUGDWH FOLHQ LORU $UWLFROXO  GLQ 5HJXODPHQWXO
GH DSOLFDUH D /HJLL FRQWDELOLW
&D SULQFLSDO

LL

SDUWH FRPSRQHQW

D FKHOWXLHOLORU OD  OHL YHQLWXUL

GLQ H[SORDWDUH FKHOWXLHOLOH OD  OHL FLIU

GH DIDFHUL & SRW IL H[SULPDWH

cu ajutorul modelului:
C=

qc
1000
qp

n care:
T

FDQWLWDWHD YkQGXW

c = costul produselor
S

SUH XO PHGLX GH YkQ]DUH H[FOXVLY 79$

5HOD LD GH PDL VXV SRDWH IL VFULV

L DVWIHO

c
C = g 1000
p

n care:
J

VWUXFWXUD SURGXF LHL YkQGXWH VWDELOLW

YDORULF

qp

qp

c
1000 = nivelul cheltuielilor la 1000 lei pe produse
p
'H DLFL UH]XOW
FLIU

IDFWRULL FDUH LQIOXHQ HD]

FKHOWXLHOLOH OD  OHL

GH DIDFHUL VXQW VWUXFWXUD SURGXF LHL SUH XO PHGLX GH YkQ]DUH L

costul

produselor.
([HPSOLILFDUHD

PHWRGRORJLHL GH

DQDOL]

QHFHVLW

XUP WRDUHOH GDWH

(tabelul 3.4):
Tabelul 3.4
(mil. lei)
Nr.
crt.
1

Cifra de afaceri

Cheltuieli aferente cifrei de afaceri

3
4
5

3UHY ]XW

( qp)

&LIUD GH DIDFHUL UHFDOFXODW

Cheltuieli

( q1c 0 )

aferente

cifrei

&KHOWXLHOL OD  OHL FLIU

de

afaceri

4500

3672

820,81

GH DIDFHUL OHL

3546

recalculate

4375

3289

( qc)
( q1p 0 )

Realizat

4007

Indicatori

810,51

ReducereD vQ FD]XO GDW DO QLYHOXOXL FKHOWXLHOLORU OD  OHL

de afaceri de 10,30 lei (810,51  VH H[SOLF SULQ LQIOXHQ D

FLIU

D 6WUXFWXULL SURGXF LHL YkQGXWH

q 1c 0
q0p0
1000
1000 sau C C 0
q 1p 0
q0p0
3672
3289
1000
1000 = 816 820,81 = 4,81 lei
4500
4007
Interpretat metodologic, acest rezultat FX VHPQLILFD LH
SR]LWLY

HFRQRPLF

GH UHGXFHUH D FKHOWXLHOLORU OD  OHL HVWH XUPDUHD PRGLILF ULL

VWUXFWXULL

SURGXF LHL

UHQWDELOLWDWH SUHY ]XW

proGXF LHL

YkQGXWH

YkQGXWH

vQ VHQVXO FUHWHULL SRQGHULL SURGXVHORU

PDL PDUH $D GXS

SRDWH

IL

FRQVLGHUDW

FXP V
DWkW

FX R

-a mai precizat, structura

FD

IDFWRU

GH

H[SOLFDUH

D UH]XOWDWXOXL FkW L GH UHDOL]DUH D XQXL RELHFWLY SUHY ]XW Q FRQVHFLQ

HVWH DEVROXW QHFHVDU V

DFWLYLWDWHD SUDFWLF

s-DX

SURGXV

PRGLILF ULOH

vQ

VWUXFWXUD

 vQ

VH SUHFL]H]H FRQGL LLOH vQ FDUH

SURGXF LHL

YkQGXWH

DYkQGX

-se n

YHGHUH HIHFWHOH PXOWLSOH GLUHFWH L LQGLUHFWH SH FDUH OH GHWHUPLQ 

E 3UH XULORU PHGLL GH YkQ]DUH

q1c0 1000 qc0 1000

q1p1
q1p0

sau C C0

3672
3672
100
1000 = 839,31 816,00 = +23,31 lei
4375
4500

6F GHUHD ID

GH QLYHOXO SUHY ]XW D SUH XULORU PHGLL GH YkQ]DUH D

FRQGXV OD R FUHWHUH D QLYHOXOXL FKHOWXLHOLORU OD  OHL FLIU

FH vQVHDPQ
GHFL]LL

vQ XOWLP

UHIHULWRDUH

OD

tuturor cauzelor care

de vnzare.

LQVWDQ
SROLWLFD

GH

SUH XUL

GH

WUHEXLH

VH

ED]H]H

SH

DQDOL]D

DX GHWHUPLQDW PLFDUHD vQ H[HPSOXO GDW D SUH XULORU

Q JHQHUDO VH SRDWH VSXQH F

GHWHUPLQDW

GH DIDFHUL FHHD

VF GHUHD SURILWXOXL &D DWDUH DGRSWDUHD XQRU

VFKLPEDUHD

PRGLILFDUHD SUH XULORU GH YkQ]DUH HVWH

UDSRUWXOXL

FHUHUH RIHUW 

SURGXF WRU L UHVSHFWLY RIHUWDQW GH SURGXVH

/D QLYHOXO ILHF UXL

pot fi identificate unele cauze

FXP DU IL FDOLWDWHD SURGXVHORU LQFOXVLY SURGXVH GLIHUHQ LDWH SH FDOLW

PDUFD GH IDEULF
LQWHUYHQ LD

SURGXF LH VDX FRPHU  VFKLPEDUHD GHVWLQD LHL SURGXVXOXL

VWDWXOXL

vQ

FD]XO

XQRU

SURGXVH

GH

LPSRUWDQ

QD LRQDO

VDX

VWUDWHJLF  DFRUGDUHD GH ERQLILFD LL VDX UHPL]H HWF

(3

Cunoscndu-se cauzele care au condus lD

PRGLILFDUHD

SUH XULORU

VH SRDWH VWDELOL HIHFWXO DVXSUD QLYHOXOXL FKHOWXLHOLORU OD  OHL FLIU

GH DIDFHUL SH ED]D UHOD LHL

q 1c 0
q 1c 0
1000
1000
q1p1 ( P)
q1 p 0
PrHVXSXQkQG vQ H[HPSOXO GDW F  vQWUHSULQGHUHD
GLIHUHQ LDWH

SH

FDOLW

L

F 

vQ

SHULRDGD

DQDOL]DW 

vQ]

ULORU D DFRUGDW ERQLILFD LL vQ VXP

FDOLW

LL DVXSUD FKHOWXLHOLORU OD  OHL VH GHWHUPLQ

WRWDO

GH

IDEULF

SHQWUX



SURGXVH

VWLPXODUHD

PLO OHL LQIOXHQ D

DVWIHO

3672
1000 816 = 814,91 816 = 1,09 lei
4375 + 131

'HFL HIHFWXO FDOLW

LL vPEXQ W

LUHD DFHVWHLD FRQGXFH OD FUHWHUHD

SUH XOXL GH YkQ]DUH L LPSOLFLW OD VSRULUHD HILFLHQ HL FX  OHL OD  OHL
FLIU

GH DIDFHUL vQ WLPS FH DFRUGDUHD ERQLILFD LLORU V

diminuare a acesteia cu 24,40 lei (23,31 + 1,09).

-a materializat ntr-o

c) Costurilor pe produse
q1c 0
q1c1
1000
1000 sau C1 C
q 1p1
q 1 p1
3546
3672
1000
1000 = 810,51 839,31 = 28,80 lei
4375
4375
5HGXFHUHD

FRVWXULORU

FKHOWXLHOLORU OD  OHL FLIU

SH

SURGXVH

GHWHUPLQDW

VSRULUHD

HILFLHQ HL

GH DIDFHUL

DLQ SXQFW GH YHGHUH PHWRGRORJLF SHQWUX R HGLILFDUH FRPSOHW

VLWXD LHL HVWH QHFHVDU
GHWHUPLQDW

PRGLILFDUHD

DFHVWRUD

(VWH

FXQRVFXW

categoriilor de resurse este o compoQHQW

PRGLILFD LQGHSHQGHQW

DVXSUD

DQDOL]D HOHPHQWHORU GH FKHOWXLHOL L D FDX]HORU FDUH DX

GH DFWLYLWDWHD

XQLW

IDSWXO

FKHOWXLHOLORU

LORU

sau

SUH XO
FDUH

vQ DFHVWH

WXWXURU

VH

SRDWH

FRQGL LL VH

LPSXQH R VHSDUDUH D DFHVWHL LQIOXHQ H GH FRQWULEX LD SURSULH OD UH]XOWDWXO

RE LQXW

Metodologic, aceasta presupune:

determinarea soldului modiILF ULORU GH FKHOWXLHOL LQGHSHQGHQWH
de activitatea ntreprinderii (FK 6 SUHVXSXQHP vQ H[HPSOXO
dat +22 mil. lei;

VWDELOLUHD QLYHOXOXL OD  OHL FLIU

GH DIDFHUL

ch
+ 22
1000 =
1000 = +5,03 lei
4375
q 1p1

FRUHFWDUHD

LQIOXHQ HL

FRVWXULORU

SH

SURGXVH

FX

HIHFWXO

modifiF ULORU GH FKHOWXLHOL LQGHSHQGHQWH GH XQLWDWH

-28,80 (+5,03) = -33,83 lei
,QIRUPD LLOH

RE LQXWH

vQ

XUPD DFHVWHL

PRGDOLW

GH DQDOL]

SRW

IL

YDORULILFDWH vQ VLWXD LL PXOWLSOH GLQ FDUH QX VH H[FOXG VWXGLLOH GH IH]DELOLWDWH

L GH HYDOXDUH vQ FDUH SDUWHD GH GLDJQRVWLF DUH R LPSRUWDQ
'DW
vQ

VLVWHPXO

GHRVHELW 

ILLQG SR]L LD FKHOWXLHOLORU WRWDOH VDX DIHUHQWH FLIUHL GH DIDFHUL

LQGLFDWRULORU

GH

DQDOL]

HFRQRPLFR ILQDQFLDU 

VH

FXDQWLILFDUHD HIHFWHORU PRGLILF ULL QLYHOXOXL OD  OHL $VWIHO

UHFRPDQG

principalii

LQGLFDWRUL VLQWHWLFL vQ FDUH VH UHJ VHWH LQIOXHQ D PRGLILF ULL FKHOWXLHOLORU OD

 OHL FLIU

GH DIDFHUL VXQW

a) Suma profitului nainte de impozitare

q p
(C1 C 0 ) 1 1
1000
1RW : Rezultatul poate fi detaliat pe factori potrivit metodologiei
prezentate;

E (ILFLHQ D DFWLYHORU GH H[SORDWDUH $H

(C1 C 0 ) q1p1
Ae1
F (ILFLHQ D XWLOL] ULL DFWLYHORU IL[H YDORDUHD PHGLH DQXDO

Mf)

(C1 C 0 ) q1p1
Mf1
G (ILFLHQ D XWLOL] ULL FDSLWDOXULORU FDUH

pot fi proprii, totale, sociale

K);
(C1 C 0 ) q1p1
K1
G (ILFLHQ D XWLOL] ULL IRU HL GH PXQF

(C1 C 0 )

SULQ SURILWXO PHGLX SH VDODULDW

q 1 p1
1000

N1

unde:
N1

QXP UXO PHGLX GH VDODULD L

(ILFLHQ D

FKHOWXLHOLORU

DIHUHQWH

FLIUHL

GH

DIDFHUL

HVWH

GH

fapt o

UHIOHFWDUH D UH]XOWDWHORU FDUH VH RE LQ vQ VWDGLXO SURGXF LHL Q FRQVHFLQ

DQDOL]D

SRDWH

IL

GHSODVDW

folosindu-VH LQGLFDWRUXO
Aceasta presupune ca,

vQ

DFHVW

VHJPHQW

DO

FLUFXOD LHL

FKHOWXLHOL OD  OHL SURGXF LH PDUI

vQ

FRQWDELOLWDWHD

GH

JHVWLXQH

VH

FDSLWDOXOXL
IDEULFDW 
VWDELOHDVF

UH]XOWDWXO SRWHQ LDO DO H[SORDW ULL IRORVLQGX VH FRQWXUL L UH]XOWDWH DQDOLWLFH

DD GXS

FXP VH SUHFL]HD]

/HJLL &RQWDELOLW
Q

vQ $UWLFROXO  GLQ 5HJXODPHQWXO GH DSOLFDUH D

LL

DVHPHQHD

SURGXF LD IDEULFDW

FRQGL LL

PHWRGRORJLD

GH

DQDOL]

SUH]HQWDW

YL]HD]

vQ FXUVXO H[HUFL LXOXL GDWHOH QHFHVDUH ILLQG IXUQL]DWH GH

FRQWDELOLWDWHD GH JHVWLXQH JUXSD  GLQ 3ODQXO GH FRQWXUL L EXJHWXO GH

YHQLWXUL L FKHOWXLHOL

8WLOLWDWHD SUDFWLF
DEVROXW

QHFHVDUH

GH

D XQHL DVHPHQHD DQDOL]H VH UHJ VHWH vQ FDOFXOH

SUHYL]LRQDUH

ILQDQFLDUH FDUH FRQGL LRQHD]

$QDOL]D FRPSDUDWLY

FXDQWXPXOXL

GH

UHVXUVH

PDWHULDOH

vQGHSOLQLUHD RELHFWLYHORU VWDELOLWH

D FKHOWXLHOLORU OD  OHL FLIU

GH DIDFHUL FX

cele aferente prodXF LHL IDEULFDWH SXQH vQ HYLGHQ PRGXO GH ILQDOL]DUH D

P VXULORU
WHKQLFR-RUJDQL]DWRULFH
DGRSWDWH
vQ
VWDGLXO
SURGXF LHL
SHQWUX
reducerea costurilor.
Pentru exemplificare se folosesc datele:
Tabelul 3.5
cheltuieli la 1000 lei

Nr.
crt.
1
2
3
4

FLIU
0RGLILFDUH ID

GH QLYHOXO SUHY ]XW

SURGXF LH

GH DIDFHUL

IDEULFDW

-10,30
-4,81
+23,31
-28,80

,QIOXHQ D VWUXFWXULL
,QIOXHQ D SUH XOXL PHGLX GH YkQ]DUH
,QIOXHQ D FRVWXOXL

-7,40
+3,80
+18,60
-29,80

Q VLWXD LD GDW  UH]XOWDWHOH RE LQXWH vQ SURGXF LH SH

QLYHOXOXL FKHOWXLHOLORU OD  OHL VH UHIOHFW

linia reducerii

vQ WRWDOLWDWH vQ FHOH DIHUHQWH

FLIUHL GH DIDFHUL vQ FDUH VH UHJ VHVF L HIHFWHOH PRGLILF ULORU LQWHUYHQLWH vQ

VWUXFWXUD

SURGXF LHL

structurii de 

VWRFDWH

'H

DOWIHO

DD

VH

SRDWH

H[SOLFD

LQIOXHQ D

OHL OD FLIUD GH DIDFHUL L  OHL OD SURGXF LD IDEULFDW 

SUHFXP L D FRVWXOXL
5HGXFHUHD SUH XOXL PHGLX GH YkQ]DUH GH SULQFLSLX VH FRQVWLWXLH vQWU
XQ SXQFW VODE DO DFWLYLW

promovarea

LL ILUPHL GDF

YkQ] ULORU (VWH HYLGHQW F  vQ DFWLYLWDWHD SUDFWLF

VLWXD LH WUHEXLH V

ILH SUH]HQWDW

DFHDVWD QX D IRVW R RS LXQH SHQWUX

R DVHPHQHD

vQ GHWDOLX

3.4 Analiza cheltuielilor variabile

Q FDGUXO FKHOWXLHOLORU GH H[SORDWDUH SDUWHD YDULDELO  UHVSHFWLY FHD
FDUH HVWH GHSHQGHQW

GH YROXPXO GH DFWLYLWDWH HVWH SUHGRPLQDQW  7HRULD L

SUDFWLFD

IRORVHVF

HFRQRPLF

QR LXQLOH

GH

GHSHQGHQ

SURSRU LRQDO

QHSURSRU LRQDO  VDX VWULFW L UHVSHFWLY QRQ VWULFW SURSRU LRQDO Q SULPXO FD]
VXPD FRVWXULORU YDULDELOH VH H[SULP

SULQ UHOD LD D 4 XQde a = suma

costurilor variabile pe produs, ar Q = cantitatea, iar in cel de al doilea prin
IXQF LD I4

2S LXQHD SHQWUX IRORVLUHD vQ DQDOL]

L UHVSHFWLY SUDFWLFD HFRQRPLF

SULQ

D FKHOWXLHOLORU YDULDELOH SRDWH IL MXVWLILFDW

elaborarea politicii vn]

cheltuielilor comune;
elaborarea bugetelor de costuri, necesare n buna gestionare a
tuturor categoriilor de resurse;

VWDELOLUHD SROLWLFLL GH SURGXF LH GLQ SXQFW GH YHGHUH FDQWLWDWLY L

UHQWDELOLWDWH

vQ

ULORU

vQ

IXQF LH

GH

FRQVHFLQ

GH

FRQWULEX LD

JUDGXO

OD

GH

DFRSHULUHD

al termenului de realizare;

GHWHUPLQDUHD
LPSRUWDQW

SUDJXOXL

vQ

GH

UHQWDELOLWDWH

GLPHQVLRQDUHD

XQRU

SUREOHP

DFWLYLW

GHRVHELW

GH

FDWHJRULL

GH

cheltuieli.
(YLGHQW SRW IL IRUPXODWH L XQHOH UH]HUYH vQ DFHVW VHQV GHWHUPLQDW

de:

LPSUHFL]LD VWDELOLULL YDULDELOLW

LL GLIHULWHORU FDWHJRULL GH FKHOWXLHOL

SRVLELOLWDWHD GH SUHYL]LRQDUH SH WHUPHQ VFXUW L OXQJ

LPSDFWXO

VLVWHPXOXL

GH

VDODUL]DUH

cheltuieli (variabile sau fixe).

Pentru activitatea practic  DFHVWHD

DVXSUD

VXQW

FHORU

HOHPHQWH

GRX
FDUH

JUXSH

LDX

vQ

H[SLUDW

FRQVLGHUDUH vQ DSUHFLHUHD XQRU UH]XOWDWH RE LQXWH vQWU R SHULRDG

VH

GH

IRUPXODUHD GHFL]LLORU GH FRUHF LH SHQWUX YLLWRU

$QDOL]D

FKHOWXLHOLORU

YDULDELOH

SRDWH

DYHD

vQ

YHGHUH

XUP WRDUHOH

probleme:

3.4.1 Anali]D

GLQDPLFLL

VWUXFWXULL

OD  OHL YHQLWXUL L FD VXP

,QGLYLGXDOL]DW

FD

SUREOHP

VH

WRWDO

vQVFULH

vQ

FKHOWXLHOLORU

YDULDELOH


PRGDOLWDWHD

JHQHUDO

DERUGDUH D vQWUHJXOXL UHVSHFWLY D WRWDOXOXL FKHOWXLHOLORU Q FRQVHFLQ

GH

 VH YD

XUP UL L GLQDPLFD FKHOWXLHOLORU YDULDELOH WRWDOH L OD  OHL YHQLWXUL SH ED]D

datelor dLQ WDEHOXO XUP

WRU WDEHOXO 

).

3HULRDGD FXUHQW

Perioada
Pn-1

Nr.
crt.
1
2
3
4
5
6
7
8

Tabelul 3.6
(mil. lei)
%

P1

P
0

2386

2546

106,70

1896

2324

2516

108,26

1904

2495

3680
3385
3300

4218
4007

4630
4375
4500

109,77
109,18

540

565,67

550

97,22

560

&LIUD GH DIDFHUL UHFDOFXODW

Cheltuieli variabile la 1000 lei

venituri din exploatare (lei)
Cheltuieli variabile la 1000 lei
GH DIDFHUL

8UP ULQG

Realizat
P1

1987

Cheltuieli
de
exploatare
variabile
Cheltuieli variabile aferente
cifrei de afaceri
Cheltuieli variabile aferente
cifrei de afaceri recalculate
Venituri din exploatare
Cifra de afaceri

FLIU

P0

580

575

99,14

SUHFHGHQW

Indicatori

HYROX LD

H[SORDWDUH L UHVSHFWLY FLIU

FKHOWXLHOLORU

3UHY ]XW

YDULDELOH

GH DIDFHUL ID

OD



OH

i venituri din

GH UHDOL] ULOH DQXOXL SUHFHGHQW L

SUHYHGHUL DFHDVWD HVWH GLIHULW  $VWIHO V D SUHY ]XW R FUHWHUH D QLYHOXOXL

FKHOWXLHOLORU YDULDELOH OD  OHL VLWXD LH vQUHJLVWUDW

exploatare. ntr-XQ
V

QXPDL OD FKHOWXLHOL GH

DVHPHQHD FD] vQ DFWLYLWDWHD SUDFWLF

GH DQDOL]  WUHEXLH

VH PRWLYH]H L H[SOLFH WRDWH HOHPHQWHOH DYXWH vQ YHGHUH SUHFXP L FHOH

FDUH DX DS UXW SH SDUFXUV

Q FHHD FH SULYHWH VWUXFWXUD FKHOWXLHOLORU YDULDELOH FD VXP

WRWDO

lD  OHL DFHDVWD SRDWH YL]D QDWXUD FKHOWXLHOLORU LVDX ORFXO GH IRUPDUH
(centre de responsabilitate), iar n cadrul acestora pe produse. O asemenea
DQDOL]

HVWH QHFHVDU

vQ VSHFLDO SHQWUX ORFDOL]DUHD P VXULORU GH UHGXFHUH D

costurilor.

3.4.2 Anali]D IDFWRULDO

D FKHOWXLHOLORU YDULDELOH

'LDJQRVWLFXO FKHOWXLHOLORU YDULDELOH SUH]LQW

DFWLYLWDWHD

GH

FRQGXFHUH

UHQWDELOLWDWH FDUH V

SHUPLW

SHQWUX

DVLJXUDUHD

GHRVHELW

vQ

vQWU

SUDFWLFDUHD XQRU SUH XUL PHQLWH

PHQ LQHUHD L HYHQWXDO FUHWHUHD FRWHL GH SLD

$QDOL]D IDFWRULDO

LPSRUWDQ

vQFDGU ULL

-un nivel de
V
FRQGXF
la

SRDWH DYHD FD RELHFW QLYHOXO FKHOWXLHOLORU YDULDELOH

la 1000 lei venituri din exploatare (Cve), nivelul cheltuielilor variabile la

 OHL FLIU

GH DIDFHUL &Y SUHFXP L vQV L VXPD DEVROXW

qcv).
n primul caz, poate fi folosit modelul
gi cvi
C ve =
,
100

D FKHOWXLHOLORU

YDULDELOH DIHUHQWH SURGXF LHL IDEULFDWH 

unde:
gi = structura veniturilor;
cvi = cheltuielile la 1000 lei venituri pe categorii de venituri.
Metodologia GH VWDELOLUH D FHORU GRX LQIOXHQ H HVWH VLPLODU
prezentate n analiza cheltuielilor totale la 1000 lei venituri.
n cel de-al doilea caz se are n vedere modelul:
qcv
Cv =
1000,
qp
n care:
cv = costul variabil pe unitate de produs vndut.
0RGLILFDUHD FKHOWXLHOLORU YDULDELOH OD  OHL FLIU
QLYHOXO SUHY ]XW vQ H[HPSOXO GDW GH

 OHL VH H[SOLF
- VWUXFWXULL SURGXF LHL YkQGXWH

FHOHL

GH DIDFHUL ID

GH

SULQ LQIOXHQ D

q1cv0 1000 Cv0 = 2495 1000 580 = 554,40 580 = 25,6 lei
4500
q1p0
Cv 0 Cv 0

sau

- SUH XOXL PHGLX GH YkQ]DUH H[FOXVLY 79$

q1cv0 1000 q1cv0 1000 = 2495 1000 2495 1000 =

4375
4500
q1p1
q1p0
= 570,29 554,40 = +15,89 lei

sau

Cv0 - Cv0
- costul variabil pe unitate de produs
Cv1
1RW

q1cv0 1000 = 575 570,29 = +4,71lei

q1p1

$VSHFWHOH

PHWRGRORJLFH

LQGHSHQGHQ L GH DFWLYLWDWHD XQLW

UHIHU

UHIHULWRDUH

sau
OD

Cv1 Cv 0

LQIOXHQ D

IDFWRULORU

LL VXQW YDODELOH L DLFL FX PHQ LXQHD F

VH

QXPDL OD FKHOWXLHOLOH YDULDELOH

5H]XOW

 OHL FLIU

vQ

H[HPSOXO

GH DIDFHUL V

GDW

UHGXFHUHD

FKHOWXLHOLORU

YDULDELOH

OD

-a realizat exclusiv pe seama structurii proGXF LHL

YkQGXWH FHHD FH HYLGHQW DUH R VHPQLILFD LH SR]LWLY  GDW

FHUHULL SHQWUX SURGXVHOH UHVSHFWLYH 'DU vQ SHUVSHFWLY
SURGXVHOH

FX

GLPSRWULY 

FKHOWXLHOL
WUHEXLH

YDULDELOH

DF LRQDW

PDL

PDUL

SHQWUX

SHQWUX

UHGXFHUHD

ILLQG RQRUDUHD

QX WUHEXLH QHJOLMDWH
QX

SLD D

SLHUGH

FRVWXULORU

SH

FL

VHDPD

cheltuielilor variabile pe unitate de produs.

Q DFHVW PRPHQW VH SRDWH IDFH DQDOL]D FRPSDUDWLY
 OHL FLIU

Nr.

Cheltuieli la 1000 lei

Indicatori

crt.
1

D FKHOWXLHOLORU OD

GH DIDFHUL FX FHOH YDULDELOH $VWIHO

0RGLILFDUHD ID

FLIU

GH QLYHOXO

GH DIDFHUL

Tabelul 3.7
Cheltuieli variabile
OD  OHL FLIU

GH

afaceri

-10,17

-5,0 lei

-4,76

-25,6

SUHY ]XW OHL GLQ FDUH GDWRULW

LQIOXHQ HL

6WUXFWXULL SURGXF LHL YkQGXWH

3UH XOXL PHGLX GH YkQ]DUH

+23,31

+15,89

Costului pe produs, respectiv

costului variabil

-28,72

+4,71

6WXGLXO

DFHVWRU

GDWH

FRPSOHWHD]

WDEORXO

UHIHULWRU

OD

VLWXD LD

cheltuielilor aferente cifrei de afaceri, putndu-se formula att punctele forte

UH]XOWDWH SR]LWLYH FkW L FHOH VODbe (rezultate negative).
&D SXQFWH IRUWH SRW IL PHQ LRQDWH

VSRULUHD HILFLHQ HL FKHOWXLHOLORU OD  OHL FLIU

GH DIDFHUL DWkW

SH VHDPD FHORU YDULDELOH FkW L IL[H

FUHWHUHD

YkQ] ULORU

OD

SURGXVHOH

FX

UHQWDELOLWDWH

SRWHQ LDO

VXSHULRDU 

UHGXFHUHD ID

GH QLYHOXO SUHY ]XW D FRVWXULORU SH SURGXVH GDU

numai pe seama cheltuielilor fixe.

&D SXQFWH VODEH VH UHPDUF 

VF GHUHD SUH XOXL GH YkQ]DUH WUHEXLH LGHQWLILFDWH FDX]HOH

FUHWHUHD FKHOWXLHOLORU YDULDELOH SH XQLWDWH GH SURGXV

Q IXQF LH GH DFHVWH HOHPHQWH VH VWDELOHWH FDGUXO GH DF LXQH SHQWUX

SHULRDGD XUP WRDUH
Q FHHD FH SULYHWH VXPD DEVROXW

D FKHOWXLHOLORU YDULDELOH DIHUHQWH

FLIUHL GH DIDFHUL VDX SURGXF LHL IDEULFDWH SRDWH IL DQDOL]DW

PXOWRU PRGHOH IXQF LH GH FRQGL LLOH FRQFUHWH

SH ED]D PDL

din unitate. Astfel, la nivelul

vQWUHJLL SURGXF LL IDEULFDWH VH SRDWH IRORVL PRGHOXO

Chv = Of Cv
n care:
Chv =
Qf =

VXPD DEVROXW
SURGXF LD
WUHEXLH

VWDELOHDVF

Cv =

QLYHOXO

1
,
1000

D FKHOWXLHOLORU YDULDELOH DIHUHQWH SURGXF LHL IDEULFDWH

PDUI

IDEULFDW

IRORVHDVF

H[SULPDW

FRQWXUL

GH

vQ

SUH

YHQLWXUL

GH YkQ]

vQ

JUXSD

are (unitatea



VDX

FKHOWXLHOLORU

YDULDELOH

OD



OHL

SURGXF LH

(s-D PHQ LQXW VLPEROL]DUHD SHQWUX VLPSOLILFDUH

0RGLILFDUHD ID
H[SOLF

VH

H[WUDFRQWDELO

GH R ED]

GH UDSRUWDUH QRWDW

IDEULFDW

chv), se

FX  

SULQ LQIOXHQ D

1) volumului de activitate
Cv
(Qf1 Qf 0 ) 0
1000

 QLYHOXOXL FKHOWXLHOLORU YDULDELOH OD  OHL SURGXF LH IDEULFDW

Qf1
(Cv1 Cv 0 )
1000

GLQ FDUH GDWRULW

PRGLILF ULL

a) structurii SURGXF LHL PDUI

Qf1
(Cv 0 Cv 0 )
1000

IDEULFDW

E SUH XOXL PHGLX GH YkQ]DUH IRORVLW vQ HYDOXDUHD SURGXF LHL

Qf1
(Cv 0 Cv 0 )
1000
c) cheltuielii variabile pe unitate de produs
Qf1
(Cv1 Cv 0 )
1000
8Q DVHPHQHD PRGHO GH DQDOL]
HVWLPDUHD

FKHOWXLHOLORU

YDULDELOH

HVWH XWLO vQ DFWLYLWDWHD SUDFWLF

RSHUD LXQH

QHFHVDU

vQ

SHQWUX

GHWHUPLQDUHD

UH]XOWDWXOXL EUXW DO H[SORDW ULL

Q FD]XO SURGXF LHL RPRJHQH SHQWUX WRDW

SURGXF LD IDEULFDW

VDX OD

nivelul unui centru de cheltuieli, se poate utiliza modelul Chv = qcv,

unde:
q = SURGXF LD IDEULFDW
cv = costul variabil pe produs

3RWULYLW DFHVWXL PRGHO IDFWRULL GLUHF L GH LQIOXHQ

SURGXF LH VWUXFWXUD IL]LF

VXQW FDQWLWDWHD GH

L FRVWXO YDULDELO SH XQLWDWH GH SURGXV

Pentru exemplificare sunt necesarH XUP

WRDUHOH GDWH WDEHOXO 

):

Tabelul 3.8
um




Realizat

t0
t0
t0
t0

A
B
C
TOTAL

1000
2000
2500
5500

Cheltuieli variabile
Pe produs
Total mii lei
Realizat
Realizat

1200
1900
2500
5600




1
2
3

Cantitatea
Produs

4000
10000
5000
6636

4500
9000
5000
6250




Nr.
crt.

4000
20000
12500
36500

5400
17100
12500
35000

chv = 35000 36500 = -1500 mii lei,

GLQ FDUH GDWRULW

LQIOXHQ HL

D SURGXF LHL

Q1 cv 0 (q 0 cv 0 ) = 5600 6636 36500 = +662 mii lei

sau 1 1 Chv 0

Q
0

E VWUXFWXULL SURGXF iei

(q1cv1 ) Q1 cv0 = (1200 4 + 1900 10 + 2500 5) 5600 6636 =

36300 37162 = 862 mii lei

c) costurilor variabile pe produse
(q1cv1 ) (q1cv 0 ) = 35000 36300 = 1300 mii lei
$FHDVW

PHWRGRORJLH GH DQDOL]

HVWH XWLO

DWkW vQ H[SOLFDUHD XQHL

VLWXD LL GDWH FkW vQ VSHFLDO vQ RSHUD LXQHD GH EXJHWDUH D FKHOWXLHOLORU SH

centre de responsabilitate.
 (VWLPDUHD HYROX LHL SUREDELOH D FKHOWXLHOLORU YDULDELOH
Q

SURFHVXO

FKHOWXLHOLORU

GH

YDULDELOH

FRQGXFHUH
WRWDOH

VDXL

vQWUHSULQGHULL

OD



OHL

FLIU

HVWLPDUHD
GH

HYROX LHL

DIDFHUL

SRDWH

interveni:

vQ

FD]XO

SUHYL]LRQ ULL

DFWLYLW

FKHOWXLHOLOH GH OD R SHULRDG

LL

SULQ

EXJHWXO

GH

YHQLWXUL

OD DOWD

n studiile de fezabilitate (ntocmite n scopuri diferite) pentru

GHWHUPLQDUHD UH]XOWDWXOXL H[SORDW ULL

vQ RSHUD LXQL GH HYDOXDUH HFRQRPLF

vQ VLWXD LLOH GH DQJDMDUH SH S

D vQWUHSULQGHULL

arcursul anului a unor comenzi ale

EHQHILFLDULORU GDF

H[LVW

UH]HUY

GH FDSDFLWDWH GH SURGXF LH

SHQWUX DGRSWDUHD XQRU P VXUL GH vQFDGUDUH vQ FXUVXO H[HUFL LXOXL

vQ

QLYHOXULOH

SUHVWDELOLWH

VDX

LPSXVH

GH

FRQGL LL

DQXPLWH

obiective.
6LWXD LLOH

SUH]HQWDWH

nu sunt limitative, ci explicative, activitatea

vQWUHSULQGHULL ILLQG VXILFLHQW GH GLYHUVLILFDW 

&D PRGDOLW

L SUDFWLFH GH VROX LRQDUH SRW IL PHQ LRQDWH

HVWLPDUHD

SH

ED]D

QLYHOXOXL

OD



VDX



OHL

FLIU

GH

afaceri, avnd n vedere caracterul lor conVWDQW GDF VH HOLPLQ

factorul dimensional (este procedeul cel mai frecvent utilizat).
Deci
1
Chv = (CA Cv 0 )
1000
1RW : Chv = cheltuielile variabile previzionate; CA = cifra de
DIDFHUL SUHYL]LRQDW
VDX 4I
SURGXF LD PDUI  &Y0 = nivelul cheltuielilor
YDULDELOH OD  OHL FLIU

GH DIDFHUL UHDOL]DW 

Exemplu 6H HVWLPHD]
FUHWH FX 

F  vQ SHULRDGD XUP WRDUH FLIUD GH DIDFHUL YD

CA = 4375 mil. 1,10 = 4812,5 mil. lei

Chv = 4812,5 0,55 = 2646,9 mil. lei
Q FD] GH LQIOD LH OXDW

FKHOWXLHOLOH VH PRGLILF
GH

UHQWDELOLWDWH

UDSRUWXO

GLQWUH

vQ FDOFXOXO FLIUHL GH DIDFHUL VH DGPLWH F

vQ DFHHDL SURSRU LH 'DF

DWXQFL
LQGLFHOH

VXPD

FKHOWXLHOLORU

PHGLX

DO

LQIOD LD DIHFWHD]

YDULDELOH

SUH XULORU

GH

WUHEXLH

FXPS UDUH

QLYHOXO

FRUHFWDW
,c

FX

FHO

DO

Ic
= 1,02, suma cheltuielilor variabile va fi
Ip

SUH XULORU GH YkQ]DUH ,p 'DF

circa: 2700 mil. lei (2646 1,02).

6XPD DVWIHO VWDELOLW

HVWH DIHUHQW

GH SURGXF LD IDEULFDW  Q FRQVHFLQ

'DF

DFHVW

UDSRUW

HVWH

GH

 VH



FLIUHL GH DIDFHUL FDUH HVWH GLIHULW

face corectarea cu raportul

DWXQFL

FKHOWXLHOLOH

SURGXF LHL IDEULFDWH YRU IL GH  PLO OHL 

'DU

produselH

VSRULUHD
FHHD

FH

SURGXF LHL
FRQGXFH

OD

QX

VH

YD

0,95).

UHDOL]D

PRGLILF UL

vQ

YDULDELOH

SURSRU LRQDO

VWUXFWXUD

Qf
.
CA

DIHUHQWH

OD

DFHVWHLD

WRDWH
IDSW

FH

LQIOXHQ HD]

UHFDOFXODUHD

FKHOWXLHOLOH

FKHOWXLHOLORU

OD



FRQVHFLQ

&L0

HVWH

SURGXF LH

OHL

J L FKHOWXLHOLOH OD 

VWUXFWXUD SUHYL]LRQDW
SHULRDGD SUHFHGHQW

YDULDELOH

YDULDELOH

vQ

QHFHVDU
IXQF LH

GH

lei pe produse realizate n

).

1
Cv = ( g Ci 0 )
100
Tabelul 3.9
6WUXFWXUD SURGXF LHL

Produs

1
4 = (2 3)
100

20
25
15
40
100

22
1
15
48
100

510
500
600
545
550

112,2
75,0
90,0
261,6
538,8

0
A
B
C
D
TOTAL

Cheltuieli
recalculate

g0

Nr.
crt.
1
2
3
4

Cheltuieli la 1000
lei
pe produse (Ci0)

QWUXFkW VWUXFWXUD SURGXF LHL V

-a modificat n favoarea produselor cu

FKHOWXLHOLOH PDL PLFL L VXPD WRWDO

ceea ce va PLFRUD HIRUWXO XQLW

YD IL VXE QLYHOXO FHOHL VWDELOLWH DQWHULRU

LL

(VWLPDUHD FX DMXWRUXO IXQF LHL OLQHDUH \

DEVROXW

FKHOWXLHOLORU

YDULDELOH

LDU

D  E[ vQ FDUH \
FLIUD

exemplificare sunt necesare datele din WDEHOXO XUP

GH

VXPD

DIDFHUL

WRU WDEHOXO 

3HQWUX

):

Tabelul 3.10
Perioada
1
2
3
4
5
n

Cheltuieli
variabile (y)
mil. lei
931,7
1200,2
1484,2
1895,6
2515,6
8027,3

Cifra de
afaceri (x)
mil. lei
1552,8
2034,2
2603,8
3385
4375
13950,8

x = na + b x

xy = ax + b x

xy

x2

y = a + bx

1446744
2441040
3864560
6416606
11005750
25174700

2411188
4137970
6779774
11458225
19140625
43927782

889,8
1165,6
1492,0
1940,0
2506,9
X

de unde:

a=

2
y x x xy

8,027 43927,782 13,9508 25,1747

=
5 43927,782 194,62

n x ( x )
352608,306 351207,205 1401,101
=
=
= 0,00638
219444,29
219444,29
2

b=
'DF

n xy x y
n x ( x )

5 25174,7 13,9508 8,0273

= 0,53
219444,29

FLIUD GH DIDFHUL VH HVWLPHD]

variabile va fi: 0,00638 + 5000

 OHL OD  OHL FLIU
(VWLPDUHD SH ED]



OD  PLO OHL VXPD FKHOWXLHOLORU

 PLO OHL FHHD FH UHSUH]LQW

GH DIDFHUL
GH FDOFXOH DQDOLWLFH SH FDWHJRULL GH FKHOWXLHOL L

UHVSHFWLY SURGXVH vQ IXQF LH GH HOHPHQWHOH QHFHVDUH L FDUH WUHEXLH V

ILH

cunoscute.

 $QDOL]D UHIOHFW

ULL QLYHOXOXL FKHOWXLHOLORU YDULDELOH OD  OHL

asupra principalilor indicatori economico-financiari

Q SUDFWLFD HFRQRPLF  HVWH QHFHVDU V
VDX

HVWLPDWH

DOH

PRGLILF ULL

YHQLWXUL UHVSHFWLY FLIU

QLYHOXOXL

ILH DQDOL]DWH HIHFWHOH SURGXVH

FKHOWXLHOLORU

3ULQFLSDOLL LQGLFDWRUL vQ FDUH VH UHIOHFW

Ve
(Cv1 Cv 0 ) 1
1000
5DWD UH]XOWDWXOXL H[SORDW ULL

(Cv1 Cv 0 )

(ILFLHQ D DFWLYHORU GH H[SORDWDUH $H

(Cv1 Cv 0 )Ve1
Ae1

(ILFLHQ D PLMORDFHORU IL[H

OD



HIHFWHOH PHQ LRQDWH VXQW

5H]XOWDWXO H[SORDW ULL

YDULDELOH

GH DIDFHUL

(Cv1 Cv 0 )Ve1
Mf1

OHL

(ILFLHQ D FDSLWDOXOXL

Ve1
1000

(Cv1 Cv 0 )

K1
Profitul brut pe salariat
Ve
(Cv1 Cv 0 ) 1
1000

N1

3.5 Analiza cheltuielilor fixe

&KHOWXLHOLOH IL[H VDX FRQVWDQWH SULQ GHILQL LH FRQVWLWXLH R SUHPLV
R

FRQVHFLQ

GHVI XU ULL

unele cheltuieli nu sunt n

SURGXF LD

VDX

XQHL

DQXPLWH DFWLYLW

GHSHQGHQ

YkQ] ULOH

FL

vQ

L

SURSRU LRQDO
DQXPLWH

$FHDVWD vQVHDPQ

VDX QHSURSRU LRQDO

OLPLWH

HOH

U PkQ

L
FX

IL[H

VDX

independente. Un exemplu l constituie cheltuielile cu amortizarea care, la

XQ QLYHO GDW GH GRWDUH WHKQLF  QX VH PRGLILF  GHL SULQ PDL Euna folosire a
XWLODMHORU VH SRDWH RE LQH R SURGXF LH VXSOLPHQWDU  'DU RGDW
FDSDFLW

LL

GH

SURGXF LH

UHVSHFWLY

FRPHUFLDOL]DUH

VH

FX VSRULUHD

PRGLILF

DWkW

SURGXF LD FkW L FKHOWXLHOLOH FX DPRUWL]DUHD 6XQW DOWH FDWHJRULL GH FKHOWXLHOL

indispensabile
FHO

DO

DFWLYLW

SURGXF LHL

LL vQWUHSULQGHULL DO F URU YROXP HVWH LQGHSHQGHQW GH

FXP

DU

IL

FKHOWXLHOLOH

JHQHUDOH

GH

DGPLQLVWUD LH

conducere.
5DSRUWXO

GLQWUH

SUDFWLF

activitatea

FKHOWXLHOLOH

IL[H

DD QXPLWD VWUXFWXU

ULVFXOXL RSHUD LRQDO FD R FRPSRQHQW

YDULDELOH

FDUDFWHUL]HD]

GH H[SORDWDUH L VHUYHWH OD DQDOL]D

D ULVFXOXL JOREDO DO ILUPHL )LUPHOH FDUH

DX FKHOWXLHOL PDUL GH UHJLH SHQWUX D IXQF LRQD WUHEXLH V

PDUL GDF

vQ

SUDFWLFH SUH XUL

SLD D L FRQFXUHQ D SHUPLW DFHVW OXFUX VDXL V

UHDOL]H

ze un

YROXP PDL PDUH GH SURGXF LH

Analiza cheltuielilor fixe nu constituie un scop n sine ci este

VXERUGRQDW
FRQVHFLQ

meWRGRORJLFH
VLWXD LHL

XQXL

RELHFWLY

UHVSHFWLY

 SUREOHPDWLFD WUHEXLH V
QHFHVDUH

H[LVWHQWH

FRUHVSXQ] WRDUH

vQ

DVLJXU ULL
DFHVW

VSRULUHD

HILFLHQ HL

ILH DVWIHO VWUXFWXUDW

ED]HL

GRPHQLX

GH

vQFkW V

LQIRUPDUH

SHQWUX

SXWHD

DFHVWRUD

RIHUH VROX LL

FRPSOHWH
DGRSWD

DVXSUD

GHFL]LLOH

Principalele probleme ale analizei cheltuielilor fixe sunt:

 $QDOL]D GLQDPLFLL L VWUXFWXULL F

heltuielilor fixe

6WXGLHUHD GLQDPLFLL FKHOWXLHOLORU IL[H HVWH QHFHVDU

SHQWUX D FXQRDWH

HYROX LD vQ UDSRUW FX FLIUD GH DIDFHUL VDX FX SURGXF LD IDEULFDW  Q IXQF LH GH

VLWXD LD GDW
P VXUD

ID

vQ

GH HYROX LD QRUPDO

FDUH

DFHVWHD

SRW

L UHDOLW
IL

LOH GLQ DOWH XQLW

FXQRVFXWH

VH

L VLPLODUH vQ

DGRSW

P VXULOH

FRUHVSXQ] WRDUH
3HQWUX

VRFLHWDWH

FRPHUFLDO

V DX

H[WUDV

XUP

toarele date: (din

tabelul 3.11)
&LIU

Cheltuieli fixe
(mil. lei)

Perioada

Tabelul 3.11
Ponderea cheltuielilor
fixe
n totalul cheltuielilor
(%)
32,0
35,3%
34,5
25,4
32,2

GH DIDFHUL

(mil. lei)

mil. lei

mil. lei

590
796
876
878
1140

100,0
134,9
110,0
100,2
129,8

1553
2034
2604
3385
4375

100
131,0
128,0
130,0
129,0

1
2
3
4
5
'LQ

DQDOL]D

FKHOWXLHOLORU

IL[H

vQ

GDWHORU
UDSRUW

UH]XOW

GH

FLIUD

FRPSRUWDPHQWXO
GH

DIDFHUL

FD

UHVSHFWLY

racteristic al

H[LVWHQ D

XQRU

VDOWXUL DWXQFL FkQG LQWHUYLQ PRGLILF UL LPSRUWDQWH vQ YROXPXO GH DFWLYLWDWH D

firmei.
Q FHHD FH SULYHWH VWUXFWXUD GH H[SORDWDUH VDX RSHUD LRQDO  DFHDVWD

nu preziQW

YDULD LL

GRPHQLXOXL
SUHVXSXVH

vQ
D

IL

VHPQLILFDWLYH
VWDELOHDVF

FDUH

vQVHPQDWH
DFWLYHD]

FXQRVFXWH

ID D

GH

DOWH

HD

vQVFULLQGX

ILUPD
'DF

HVWH

VLWXD LD

vQWUHSULQGHUL

HIHFWHOH SH FDUH OH JHQHUHD]

(WDSD

XUP WRDUH

vQ

DQDOL]D

-se n limitele caracteristice

DILUPD LH
GLQ

SH

XQLWDWH

VLPLODUH

ED]D

XQRU

SUH]LQW

HVWH

GDWH

DEDWHUL

QHFHVDU

VH

L P VXULOH FDUH VH LPSXQ

FKHOWXLHOLORU

IL[H

FRQVWLWXLH

DQDOL]D

structurii acestora, pe categorii de cheltuieli (natura lor), respectiv

DPRUWL] UL VDODULL PDWeriale etc., centre de responsabilitate (localizare n
VSD LX

VDX

FULWHULX

GH

IXQF LXQL
JUXSDUH

cheltuielilor fixe.

SURGXF LH
DUH

FRPHUFLDOL]DUH

DQXPLW

VHPQLILFD LH

DGPLQLVWUD LH
vQ

VSRULUHD

)LHFDUH

HILFLHQ HL



$QDOL]D

IDFWRULDO

FKHOWXLHOLORU

IL[H

OD



OHL

FLIU

de afaceri
'DW ILLQG FDUDFWHUXO UHODWLY FRQVWDQW DO DFHVWRU FKHOWXLHOL HILFLHQ D ORU
SRDWH IL DQDOL]DW

SULQ QLYHOXO ORU OD  OHL FLIU

GH DIDFHUL &I IRORVLQG

modelul:

Cf =

F
1000
CA

n care:
F = suma absolXW D FKHOWXLHOLORU IL[H
CA = FLIUD GH DIDFHUL VLPEROL]DW L SULQ qp).
([HPSOLILFDUHD PHWRGRORJLHL GH DQDOL]

QHFHVLW

XUP WRDUHOH GDWH

Tabelul 3.12
(mil. lei)
Nr.
crt.
1
2
3
4

3UHY

Indicatori
Suma cheltuielilor fixe
Cifra de afaceri

965
4007
X
240,83

&LIUD GH DIDFHUL UHFDOFXODW

&KHOWXLHOL IL[H OD  OHL FLIU

)D
QLYHOXO

GH DIDFHUL

lei -

GH SUHYHGHUL VH vQUHJLVWUHD]

ORU

OD



OHL FLIU

GH

]XW

Realizat
1140
4375
4500
260,5

R PDMRUDUH D FKHOWXLHOLORU IL[H

DIDFHUL FUHVFkQG

FX

 O

ei (260,57

240,83).
8Q DVHPHQHD UH]XOWDW DIHFWHD]

UHQWDELOLWDWHD JHQHUDO

D ILUPHL FX

WRDWH FRQVHFLQ HOH FDUH GHFXUJ

$QDOL]D IDFWRULDO
WUHEXLH V

SHUPLWH HYLGHQ LHUHD SULQFLSDOHORU GLUHF LL vQ FDUH

VH DF LRQH]H Q FRQVHFLQ

IL[H OD  OHL FLIU

 PRGLILFDUHD QLYHOXOXL

&I VH H[SOLF

GH DIDFHUL 

SULQ LQIOXHQ D

1. Cifrei de afaceri
F0
F
965
965
1000 0 1000 =
1000
1000 =
CA1
CA 0
4375
4007

= 220,57240,83 = 20,26 lei

GLQ FDUH GDWRULW 
D SURGXF LHL YkQGXWH

cheltuielilor

F0
F
965
965
1000 0 1000 =
1000
1000 =
CA 0
4500
4007
q1p 0

= 214,44 240,83 = 26,39 lei

E SUH XULORU PHGLL GH YkQ]DUH

F0
1000
CA1

F0
965
965
1000 =
1000
1000 =
4375
1500
q1p 0

= 220,57 214,44 = + 6,13 lei

2. Sumei cheltuielilor fixe
F
F1
1000 0 1000 = 260,57 220,57 = +40 lei
CA1
CA1
Q FD]XO ILUPHL DQDOL]DWH FUHWHUHD FKHOWXLHOLORU IL[H OD  OHL ID
GH

SUHYHGHUL

VXSHULRDU

HVWH

GH

GHWHUPLQDW

FXDQWXPXO

ORU

FDUH

DYXW

HYROX LH

FLIUHL GH DIDFHUL OD FDUH DX FRQWULEXLW L SUH XULOH GH YkQ]DUH

Din punct de vedere metodologic, trebuie identificate cauzele care au

determinat amplificarea sumei cheltuielilor fixe, de principiu, cu titlu de
H[HPSOX DFHVWHD YL]HD] 

VFKLPE UL vQ VLVWHPXO GH DPRUWL]DUH D DFWLYHORU IL[H

VFKLPE UL vQ VLVWHPXO GH VDODUL]DUH SUHFXP L FUHWHUHD VDODULLORU
GHWHUPLQDW

FUHWHUHD

GH UDWD LQIOD LHL

FRQVXPXOXL

JHQHUHD]

FK

SUH XULORU

HOHPHQWHORU

PDWHULDOH

FDUH

eltuielile fixe, n raport de factorii specifici care le

GHWHUPLQ 

3.5.3 Estimarea nivelului probabil al cheltuielilor fixe

$FWLYLWDWHD
LPSOLF
VXP

FXUHQW

GH

JHVWLXQH

SDWULPRQLXOXL

L SUREOHPD SUHYL]LRQ ULL WHQGLQ HL GH HYROX LH D F

WRWDO

XQHL

vQWUHSULQGHUL

heltuielilor fixe ca

L QLYHO OD  VDX  OHL YHQLWXUL GLQ H[SORDWDUH FLIU

DIDFHUL HWF 0RPHQWHOH vQ FDUH WUHEXLH V

VXQW QXPHURDVH L LPSRUWDQWH vQ DFHODL WLPS SHQWUX YLDELOLWDWHD XQLW

Pe terPHQ

VFXUW

LL

GH H[HPSOX GH OD XQ DQ OD DOWXO VXPD WRWDO

FKHOWXLHOLORU IL[H ) VH FRQVLGHU

LPSRUWDQWH vQ DFWLYLWDWHD XQLW

GH

VH UHDOL]H]H DVHPHQHD RSHUD LXQL

FRQVWDQW  GDF

QX

LQWHUYLQ PRGLILF UL

LL

Deci, nivelul probabil (F)=F0, respectiv cel realizat n perioada

FXUHQW 

6XPD

VH

FRUHFWHD]

SHQWUX SHULRDGD XUP WRDUH

FX

HIHFWHOH

JHQHUDWH

GH

GHFL]LLOH

DGRSWDWH

De exemplu:
VH SUHFRQL]HD]

DFKL]L LRQDUHD

XQRU

QRL

PDLQL

XWLODMH

SHQWUX vQORFXLUHD FHORU YHFKL ILH SHQWUX H[WLQGHUHD FDSDFLW

SURGXF LH HIHFWXO VH UHIOHFW

ILH

LL GH

vQ FKHOWXLHOLOH FX DPRUWL]DUHD L DOWH

FKHOWXLHOL GH vQWUH LQHUH L UHSDUD LH

VH PDMRUHD]

VDODULLOH SHUVRQDOXOXL DGPLQLVWUDWLY L GH FRQGXFHUH

VDX D XQHL S U L SHQWUX VWLPXODUHD XQRU GRPHQLL

VH

UHRUJDQL]HD]

DQXPLWH

DFWLYLW

GH

SUH]HQWDUH

UHFODP 

QWUH LQHUH L UHSDUD LL HWF

Q ILHFDUH FD] VH LPSXQH HVWLPDUHD HIRUWXULORU L D HIHFWHORU SHQWUX D

YHGHD FRQVHFLQ HOH GHFL]LLORU DGRSWDWH
&D QLYHO OD  OHL FLIU

GH DIDFHUL VDX YHQLWXUL GLQ H[SORDWDUH

respectiv totale), cheltuielile pot fi estimDWH SH ED]D UHOD LHL

1
Cf = Cf 0 ,
Iq
unde:
Iq = indicele cifrei de afaceri sau a veniturilor
Exemplu:
3HULRDGD FXUHQW

1. Cifra de afaceri mil. lei

2. Cheltuieli fixe mil. lei
3. Cheltuieli fixe la 1000 lei
'DF

SHQWUX SHULRDGD XUP WRDUH VH SUHYHGH R FLIU

 PLO OHL GHFL R FUHWHUH GH 

Cf = 260,57
2 DOW
 OHL FLIU
GH

DIDFHUL

GH DIDFHUL GH

1
= 228,01 lei
1,1428

PRGDOLWDWH GH HVWLPDUH D QLYHOXOXL SUREDELO GH FKHOWXLHOL OD

GH DIDFHUL HVWH DFHHD FDUH VH ED]HD]

FD

YDULDELO

 OHL FD YDULDELO

IXQF LD

4375
1140
260,57

y=a +

b
.
x

LQGHSHQGHQW

GHSHQGHQW

\ IRORVLQG

SH FRUHOD LD GLQWUH FLIUD

QLYHOXO

FKHOWXLHOLORU

IL[H

OD

Pentru exemplificare
(tabelul 3.13):

se

folosesc

datele

din

WDEHOXO

XUP WRU

Tabelul 3.13
Perioada
1
2
3
4
5
n

y
lei
379,89
382,11
380,57
259,27
260,59
1662,43

cifra de
afaceri
miliarde
lei
1,6
2,0
2,6
3,4
4,4
14,0

x2
2,56
4,00
6,76
11,56
19,36
44,24

1
x
0,625
0,500
0,385
0,294
0,227
2,031

1
x

0,391
0,250
0,148
0,086
0,052
0,927

y
x
237,43
191,06
146,37
76,26
59,23
710,35

y=a +
407,74
364,77
286,63
293,98
270,99
x

(FXD LD SUHVXSXQH VLVWHPXO

y = na + b

1
x

1
y
1
= a + b
2

x
x
x

de unde:
y
1
1
y 2
x
x 1662,43 0,927 2,031 710,35
x
a=
=
=
2
5 0,927 2,032 2
1 1
n

x2 x
1541,073 1442,721 98,352
=
=
= 192,85
4,635 4,125
0,51
y
1
n y
x
x = 5 710,35 1662,43 2,031 =
b=
2
0,51
1 1
n

x2 x
3551,75 3376,395
=
= 343,83
0,51
343,83
'DF [
 PLO OHL y = 192,85 +
= 261,62 lei
5

b
x

 (VWLPDUHD VLQWHWLF

6WDELOLUHD

QLYHOXOXL

D FKHOWXLHOLORU OD  OHL FLIU

SUREDELO

DO

FKHOWXLHOLORU

OD

GH DIDF

eri



OHL

FLIU

GH

DIDFHUL VDX SURGXF LH IDEULFDW  FRQVWLWXLH XQ LPSHUDWLY DO FRQGXFHULL SULQ

FRVWXUL vQ YHGHUHD SUHYHQLULL ULVFXOXL GH H[SORDWDUH VDX RSHUD LRQDO

Pe baza calculelor analitice pentUX FHOH GRX FDWHJRULL GH FKHOWXLHOL

VH GHWHUPLQ QLYHOXO FKHOWXLHOLORU OD  OHL FLIU GH
afaceri, respectiv, C = Cv + Cf.
C
Raportul
100 1- UHSUH]LQW LQGLFHOH QLYHOXOXL FKHOWXLHOLORU OD 
C0
OHL FLIU GH DIDFeri (Ic FDUH SRDWH IL GHWHUPLQDW SH ED]D UHOD LHL
1

I c = g
1 + 1
IC

g = ponderea cheltuielilor fixe n totalul cheltuielilor

Exemplu:
1. &LIUD GH DIDFHUL GLQ SHULRDGD FXUHQW
4375 mil. lei
2. Suma cheltuielilor variabile
2516
3. Suma cheltuielilor fixe
1140
4. Total cheltuieli
3656
5. Nivelul cheltuielilor la 1000 lei
835,59
6. Ponderea cheltuielilor fixe n totalul 31,19%
cheltuielilor
7. &LIUD GH DIDFHUL SURSXV
5000 mil. lei
8. Indicele cifrei de afaceri
114,29%
YDULDELOH L IL[H

I c = 0,3119
1 = 0,961 sau 96,10%
1,1429
C = 835,59 0,961 = 803,0 lei
'HFL vQ FRQGL LLOH VSRULULL FLIUHL GH DIDFHUL GDU D PHQ LQHULL VWUXFWXULL
GH H[SORDWDUH VH HVWLPHD]
DIDFHUL FDUH GDF

DFHVW QLYHO DO FKHOWXLHOLORU OD  OHL FLIU

VH UHDOL]HD]  YD FRQGXFH OD RE LQHUHD HIHFWH

GH

lor pe care le

JHQHUHD] 
Q DFWLYLWDWHD SUDFWLF  vQ FD]XO VWDELOLULL XQXL RELHFWLY UHVSHFWLY XQ
QLYHO GDW DO FKHOWXLHOLORU OD  OHL FLIU

25" '#%A#6(50 '(#&4 923) (" #% #! 

 @ 1 1 "
1 $1 '$ $" 
" '(150 2 8 #71#650 '("4% ' #3"230 ) (" ##% #! 
'% 1 & 2 & 1
! '&$ $"  

C0

GH DIDFHUL GDF

H[LVW

FDSDFLWDWHD

GH SURGXF LH L FHUHUH VROYDELO  SRDWH IL SXV

DIDFHUL FDUH V

SUREOHPD HVWLP ULL FLIUHL

de

DVLJXUH UHDOL]DUHD DFHVWXLD 3HQWUX DFHDVWD VH IRORVHWH UHOD LD

g
1 + 1;
, I CA se deduce din formula I C = g
I

IC + g 1
CA

g
g
g

+ I C = g + 1( 1);
I C = g 1; I CA =
.
I CA
I CA
IC + g 1
I CA =

3H ED]D GDWHORU GLQ H[HPSOXO SUHFHGHQW VH SUHVXSXQH F

VH VWDELOHWH

ca obiectiv, C = 800 lei, deci

800
IC =
= 0,95741
835,59
0,3119
I CA =
= 1,1581 sau 115,81%
0,95741 + 0,3119 1
FHHD FH vQVHDPQ

FLIUD GH DIDFHUL SHQWUX SHULRDGD XUP WRDUH WUHEXLH V

de 5067 mil. lei (4375 1,1581).

2 DOW

VLWXD LH SRDWH IL DFHHD vQ FDUH HVWH QHFHVDU

P VXUL GH FRUHF LH

ntr-R DQXPLW SHULRDG  SHQWUX

dat al cheltuielilor la 1000 lei, la finele perioadei.
Exemplu:

ILH

DGRSWDUHD XQR

vQFDGUDUHD vQWU

r
-un nivel

3HQWUX DQXO vQ FXUV SULQ EXJHWXO GH YHQLWXUL L FKHOWXLHOL V-a stabilit

un nivel al cheltuielilor la 1000 lei de 800 lei cifra de afaceri de 5000 mil.
lei. La finele semestrului I, cifra de afaceri este de 2000 mil. lei cu cheltuieli
GH  OHL OD  OHL FLIU

GH DIDFHUL &DUH WUHEXLH V

ILH QLYHOXO PD[LP DO

cheltuielilor la 1000 lei n semestrul II ? n acest scop, se are n vedere

UHOD LD

C=

gt Ct
,
100

n care:
JW

VWUXFWXUD YkQ] ULORU SH VXEGLYL]LXQL GH WLPS vQ FD]XO

dat pe

FHOH GRX

semestre),
iar
&W

QLYHOXO FKHOWXLHOLORU OD  OHL DIHUHQWH SHULRDGHL FHHD FH vQVHDPQ

II

II

C =g C +g C ,
de unde:

C II =

C g ICI
g II

800 (820 0,4 )

= 786,67 lei
0,6

1RW

:
0,4 =

2000
;
5000

$FHDVWD vQVHDPQ

0,6 = 1 04
F

vQ VHPHVWUXO ,, DFWLYLWDWHD WUHEXLH

LQXW

VXE

FRQWURO SHQWUX UHDOL]DUHD P VXULORU DGRSWDWH vQ YHGHUHD vQFDGU ULL vQ DFHVW

obiectiv.
3H DFHDVW

Prima
GDWRULW

ED]

SRW IL FRQVWUXLWH VFHQDULL vQ GRX

FLIUD GH DIDFHUL DQXDO

LSRWH]H GH ED] 

GH  PLO OHL QX SRDWH IL GHS LW 

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A doua QX H[LVW UHVWULF LL PHQ LRQDWH

n fiecare caz n parte sunt mai multe variante, care pot fi avute n
vedere de conducerea firmei.

 $QDOL]D ULVFXOXL GH H[SORDWDUH VDX RSHUD LRQDO

5LVFXO

GH

H[SORDWDUH

FRQVW

vQ

SRVLELOLWDWHD

H[LVWHQW

UHFXSHUD WRWDOLWDWHD FKHOWXLHOLORU HIHFWXDWH $QDOL]D VH ED]HD]

de exploDWDUH

D vQWUHSULQGHULL FDUDFWHUL]DW

GH

QX

VH

SH VWUXFWXUD

vQ OLWHUDWXUD GH VSHFLDOLWDWH SULQ

FKHOWXLHOL IL[H L YDULDELOH

Q FRQVHFLQ
PLQLP

GH

IRORVLUH

 SHQWUX HYLWDUHD ULVFXOXL WUHEXLH V

D

FDSDFLW

LL

GH

CA (Chv + F) = 0
Chv = CA Cv
CA (1 Cv) F = 0,
de unde:
F
CA =
1 Cv

*UDGXO GH IRORVLUH D FDSDFLW

SURGXF LH

6H

VH GHWHUPLQH JUDGXO

SRUQHWH

GH

OD

HFXD LD

LL GH SURGXF LH . VH GHWHUPLQ

SULQ

UHOD LD

K=
1RW

/D
SURILWXO

CA
Q max .

: Q ORF GH &$ SRDWH IL IRORVLW

F
K=
(1 Cv )Q max .
DFHVW

QLYHO

DO

JUDGXOXL

GH

SURGXF LD PDUI

IRORVLUH

 QWUXFkW RULFH DFWLYLWDWH WUHEXLH V

FDSDFLW

IDEULFDW 

LL

GH

SURGXF LH

ILH JHQHUDWRDUH GH SURILW

P ULPHD DFHVWXLD HVWH R DOW

SUREOHP  DWXQFL

F + RE
K=
(1 Cv )Q max .

unde:
RE = rezXOWDWXO H[SORDW
'LQ DFHDVW

ULL

UHOD LH 5(

>4max.

K(1 G)] F

Exemplu:
1.
2.
3.
4.
5.

mil. lei
4375
2516
1140
3656
6000

Cifra de afaceri
Cheltuieli variabile
Cheltuieli fixe
Total cheltuieli
&DSDFLWDWHD GH SURGXF LH 4max.

1140
= 0,45 sau 45%
(1 0,575)6000

K=

3HQWUX D HYLWD ULVFXO GH H[SORDWDUH HVWH QHFHVDU

IRORVLUH

UHQWDELOLWDWH

FDSDFLW

LL

UHSUH]HQWDW

GH

SURGXF LH

SULQ

(6000 0,45), sau, la cifra

FLIUD

GH

respectiv,
DIDFHUL

PLQLP

GH DIDFHUL UHDOL]DW

UHQWDELOLWDWH HVWH GHS LW FX 

FUHWHUHD JUDGXOXL GH

GHS LUHD
GH

SUDJXOXL



GH

PLO

OHL

GH  PLO OHL SUDJXO GH

 FHHD FH UHSUH]LQW

R PDUM

VXILFLHQW

FDUH

face inoperant riscul de exploatare.

6H SRDWH FDOFXOD LQWHUYDOXO GH VLJXUDQ

,s SH ED]D UHOD LHL

I s = 1 min 100,
CA

unde:
Qmin

SURGXF LD DIHUHQW

SUDJXOXL GH UHQWDELOLWDWH 

Q H[HPSOXO GDW VLWXD LD VH SUH]LQW

0,45).

DVWIHO

2700

I s = 1
100 = 38,29%
4375

$YkQG vQ YHGHUH UH]XOWDWXO H[SORDW ULL GH  PLO OHL

k=

1140 + 719
= 0,729 sau 72,9%
(1 0,575)6000

Q DFWLYLWDWHD SUDFWLF

VH SRW IRUPXOD GLIHULWH LSRWH]H vQ IXQF LH GH

OLPLWHOH GH YDULD LH D HOHPHQWHORU GH FDOFXO UHVSHFWLY

FDSDFLWDWHD GH SURGXF LH

FLIUD GH DIDFHUL SUHFRQL]DW

VH DX vQ YHGHUH FRQWUDFWHOH vQFKHLDWH

comenzi etc.);
FKHOWXLHOL YDULDELOH L IL[H SUHYL]LELOH FX OXDUH

a n considerare a

HYROX LHL SUH XULORU L HIHFWHORU LQIOD LHL PDMRUDUHD VDODULLORU

Cu ajutorul modelelor prezentate pot fi efectuate o serie de calcule,

fie de fundamentare a unor decizii, fie de evaluare a efectelor rezultate din
DSOLFDUHD ORU $D de exemplu, se poate stabili care va fi suma profitului
GDF

JUDGXO GH XWLOL]DUH D FDSDFLW

$VWIHO GDF

GH 

DWXQFL UH]XOWDWXO H[SORDW ULL YD IL

YDULDELOH OD  OHL FLIU

XWLOL]DUH D FDSDFLW

L vQ VHQVXO HVWLP ULL QLYHOXOXL FKHOWXLHOLORU

GH DIDFHUL SHQWUX FD vQ FRQGL LLOH XQXL JUDG GH

LL GH SURGXF LH L D XQHL VXPH D FKHOWXLHOLORU IL[H V

VH

XQ DQXPLW SURILW Q DFHVW VFRS VH IRORVHWH UHOD LD

Cv =1
'DF

F + RE
Q max K

VH HVWLPHD]

Cv =1
2 GDW
FLIU

LL GH SURGXF LH

RE = [6000 0,8 (1 0,575)] 1140 = 900 mil. lei

3UREOHPD SRDWH IL SXV

RE LQ

LL GH SURGXF LH FUHWH FX ; SURFHQWH

VH DGPLWH XQ JUDG GH XWLOL]DUH D FDSDFLW

XQ SURILW vQ VXP

GH  PLO OHL DWXQFL

1140 + 850
= 0,545 lei
6000 0,729

VWDELOLW DFHVW QLYHO PD[LP DO FKHOWXLHOLORU YDULDELOH

GH DIDFHUL HVWH QHFHVDU

la 1000 lei

HODERUDUHD SURJUDPHORU GH P VXUL FDUH V

asigure ncadrarea n acest nivel.

Q

HODERUDUHD

HYROX LD SUHYL]LELO

DFHVWRU

SURJUDPH

WUHEXLH

Astfel, n calcularea indicilor chelWXLHOLORU

LQ

VH

LQ

VHDPD

GH

L SUH XULORU WUHEXLH V

VH

D SUH XULORU

VHDPD GH SRQGHUHD HOHPHQWHORU UHVSHFWLY SURGXVHORU OD FDUH LQWHUYLQ

PRGLILF UL L
Q

nivelul acestora.

GLDJQRVWLFXO

ILUPHL

HYDOXDUHD

DFHVWHLD

VH

IRORVHWH

coeficientul de efect de levier de exploatare (coeficientul de prghie de

exploatare . VWDELOLW SH ED]D UHOD LHL
RE CA
K1 =

RE CA
n care:
RE = UH]XOWDWXO H[SORDW ULL
CA = FLIUD GH DIDFHUL VDX SURGXF LD IDEULFDW vQ DFHVW FD] L UH]XOWDWXO
H[SORDW ULL HVWH DIHUHQW DFHVWHLD

Exemplu (n mil. lei):

6RFLHWDWHD FRPHUFLDO

A
1.

2.

3.

4.

5.

4207
4375

4200
4300

790
830

792
800

2532
2660

2215
2200

885
885

1193
1300

395
457

Cifra de afaceri din perioada

- SUHFHGHQW
- FXUHQW

300
305

5H]XOWDWXO H[SORDW ULL GLQ SHULRDGD

- SUHFHGHQW
- FXUHQW
Cheltuieli variabile n perioada
- precHGHQW
- FXUHQW
Cheltuieli fixe n perioada
- SUHFHGHQW
- FXUHQW
Profitul net n perioada
- SUHFHGHQW
- FXUHQW

830 790
4207
= 1,27

790
4375 4207
800 792
4200
K1B =

= 0,42
792
4300 4200
K1A =

5H]XOW

vQ FD]XO $ R FUHWHUH D FLIUHL GH DIDFHUL GH 

GHWHUPLQ

un spor de profit de 1,27%, iar n cazul B numai de 0,42%, ceea ce

vQVHDPQ

GLPLQXDUH

FRHILFLHQWXO WUHEXLH V
'DF

VH

DLE

HILFLHQ HL

FKHOWXLHOLORU

GH

H[SORDWDUH

'HFL

WHQGLQ D GH FUHWHUH

are n vedere structura de exploatare, respectiv raportul

GLQWUH FKHOWXLHOLOH YDULDELOH L IL[H FRHILFLHQWXO GH SkUJKLH GH H[SORDWDUH

SRDWH IL FDOFXODW L SH ED]D UHOD LHL

K1 =

Marja bruta
CA chv
=
F
Cheltuieli fixe

Q H[HPSOXO GDW YDORULOH FRHILFLHQWXOXL VXQW XUP Woarele:

Coeficientul prghiei de exploatare n perioada
A
B
- SUHFHGHQW
4207 2532
4200 2215
= 1,89
= 1,66
885
1193
- FXUHQW
4375 2660
4330 2200
= 1,94
= 1,62
885
1300
(YROX LD FRHILFLHQWXOXL FRQILUP
FD]XUL PDUMD EUXW
GLIHULW 

FX

&$

VHPQLILFD LD

DSURSLH

GH



QLYHO

OD
LL

DFWLYLW

vQ

FKHOWXLHOLOH IL[H GDU vQ SURSRU LH

FRUHVSXQ] WRDUH

H[SORDWDUH 6LWXD LD GHYLQH FULWLF

&RQWLQXDUHD

FHOH PHQ LRQDWH DQWHULRU vQ DPEHOH

&KY DFRSHU

FDUH

vQ

SH P VXU

ILUPD

DFHVWH

VH

FHHD

DIO

FRQGL LL

FH

SULYHWH

ULVFXO

OD

OD

SUDJXO

VRFLHWDWHD

GH

UHQWDELOLWDWH

FRPHUFLDO

SHUPLWH UHFXSHUDUHD IDFWRULORU GH SURGXF LH FRQVXPD L L vQ FRQVHFLQ

nHFHVDUH VXUVH GH ILQDQ DUH 1HUHVWLWXLUHD

avea ca efect falimentul firmei.
3HQWUX DFWLYLWDWHD SUDFWLF
QLYHO

ILH

VXILFLHQW

GH

QX

 VXQW

DFHVWRUD OD WHUPHQHOH VWDELOLWH YD

HVWH LPSRUWDQW

GLPHQVLRQDUHD UD LRQDO

FKHOWXLHOLORU IL[H vQWUXFkW R PDMRUDUH D DFHVWRUD LPSOLF

F UXL

GH

FH YDORDUHD FRHILFLHQWXOXL VH

DFRSHULWRU

vQ

FHHD

FH

XQ FRHILFLHQW DO
SULYHWH

VLJXUDQ D

H[SORDW ULL

3.8 Modele GH DQDOL]

&KHOWXLHOLOH
FULWHULL

ILHFDUH

GH

DYkQG

JHVWLXQH $VWIHO GXS

D SULQFLSDOHORU FDWHJRULL GH FKHOWXLHOL

SURGXF LH

SRW

VHPQLILFD LD

IL

VWUXFWXUDWH

VSHFLILF

vQ

vQ

IXQF LH

DFWLYLWDWHD

GH

GLIHULWH

SUDFWLF

GH

QDWXUD ORU GLVWLQJHP FKHOWXLHOL PDWHULDOH VDODULDOH

ILQDQFLDUH vQ IXQF LH GH PRGXO GH LQGLYLGXDOL]DUH SH SURGXVH VH IRUPHD]

JUXSD FKHOWXLHOLORU GLUHFWH L LQGLUHFWH vQ UDSRUW GH IXQF LLOH
FHQWUH GH UHVSRQVDELOLWDWH VH LQGLYLGXDOL]HD]

ntreprinderii, ca

FKHOWXLHOLOH DIHUHQWH IXQF LXQLL

GH FHUFHWDUH GH]YROWDUH SURGXF LH SHUVRQDO FRPHUFLDO  ILQDQFLDU FRQWDELO 

,QGLIHUHQW

GH

PRGDOLWDWHD

GH

JUXSDUH

PHWRGRORJLD

GH

DQDOL]

YL]HD] 

caracWHUL]DUHD VLWXD LHL OD XQ PRPHQW

criterii, ceea ce presupune:
DQDOL]D HYROX LHL GLQDPLFLL
DQDOL]D VWUXFWXUDO 

GDW vQ UDSRUW GH DQXPLWH

DQDOL]D IDFWRULDO 
HYDOXDUHD WHQGLQ HL ORU vQ IXQF LH GH IDFWRULL VSHFLILFL FDUH OH
JHQHUHD] 

IDSW

FH

SUHVXSXQH

FR

nstituirea de modele

FRUHVSXQ] WRDUH 2 DVHPHQHD SUREOHP

SUDFWLF

SUH]LQW

FKHOWXLHOL

SUHFXP

vQ

LQHUHD

VXE

FRQWURO

costurilor pe centre de responsabilitate.

ntruct, din SXQFW GH YHGHUH PHWRGRORJLF H[LVW
DFHVWHD YRU IL

LPSRUWDQ

vQ DFWLYLWDWHD GH HODERUDUH D EXJHWHORU GH YHQLWXUL L

H[HPSOLILFDWH SH DQXPLWH FDWHJRULL

RPLVH DVSHFWHOH SDUWLFXODUH Q FRQVHFLQ

HYROX LHL

HOHPHQWH FRPXQH

GH FKHOWXLHOL I U

D IL

 SUREOHPDWLFD DQDOL]HL SRDWH IL

XUP WRDUHD

3.8.1 Analiza cheltuielilor materiale

&KHOWXLHOLOH PDWHULDOH GH LQ R SRQGHUH PDL PDUH VDX PDL PLF
IXQF LH

GH

SURILOXO

GH

DFWLYLWDWH

DO

vQWUHSULQGHULL

(OH

UHSUH]LQW

vQ

H[SUHVLD

D FRQVXPXULORU GH UHVXUVH PDWHULDOH L D SUHVW ULORU GH VHUYLFLL GH

YDORULF

F WUH WHU L L VH FRPSXQ GLQ

materii prime, materiale;

FRPEXVWLELO HQHUJLH DS 

amortizare;
obiecte de inventar;

OXFU UL L VHUYLFLL SUHVWDWH GH WHU L

alte cheltuieli materiale.

FRQWDELOLWDWHD

ILQDQFLDU 

DFHVWH

FKHOWXLHOL

VXQW

HYLGHQ LDWH

vQ

conturile din clasa 6 conturi de cheltuieli, iar n contabilitatea de gestiune

vQ FRQWXULOH GH FDOFXOD LH FW  925).
$D GXS FXP V-D DU WDW vQ DQDOL]D FKHOWXLHOLORU PDWHULDOH GLVWLQJHP
 $QDOL]D VLWXD LHL JHQHUDOH D FKHOWXLHOLORU PDWHULDOH

Ca prim aspect al analizei cheltuielilor materiale se are n vedere

IRUPDUHD

XQHL

LPDJLQL

LQGLFHOXL

FKHOWXLHOLORU

GH

DQVDPEOX

PDWHULDOH

DVXSUD

,FKP

HYROX LHL

WRWDOL]DWRU

DFHVWRUD
SH

SH

ED]D

SULQFLSDOHOH

FRPSRQHQWH DOH SRQGHULL ORU vQ WRWDO FRVWXUL JP L D QLYHOXOXL OD  OHL

veniWXUL GLQ H[SORDWDUH UHVSHFWLY FLIU GH DIDFHUL &P

Datele necesare sunt redate Q WDEHOXO XUP WRU WDEHOXO )

Tabelul 3.14
(mil. lei)
%

Perioada
6SHFLILFD LH

Nr.
crt.
1

&XUHQW

(Pn-1)

3UHY ]XW

Realizat

P1
Pn 1

P1
P0

2282

2489

2704

118,5

108,6

2092

2344

2546

121,7

108,6

76,1

71,1

71,1

93,4

100

620

590

584

94,2

99,0

618

585

582

94,2

99,5

Cheltuieli materiale
DIHUHQWH H[SORDW ULL

3UHFHGHQW

(mil. lei)
din care aferente cifrei
de afaceri
Ponderea cheltuielilor
materiale n total
costuri (%)
Nivelul cheltuielilor
materiale la 1000 lei
venituri-lei
din care aferente cifrei
de afaceri

Cercetarea datelor din acest tabel permite formularea unor concluzii

L DQXPH

Cheltuielile materiale aferente exSORDW ULL L UHVSHFWLY FLIUHL GH

afaceri se nscriu ntr-R HYROX LH FUHVF WRDUH DWkW vQ UDSRUW GH UHDOL] ULOH
DQWHULRDUH FkW L SUHYHGHUL vQ FDUH ULWPXO ORU GH FUHWHUH HVWH LQIHULRU FHOXL DO

veniturilor, fapt dovedit de indicele cheltuielilor la 1000 venituri, care este

<100;
S-DX GLPLQXDW FKHOWXLHOLOH PDWHULDOH L UHVSHFWLY YHQLWXULOH

DIHUHQWH SURGXF LHL VWRFDWH L LPRELOL]DWH GDU QX vQ SURSRU LD SUHY ]XW 

IDSW

FH

LPSOLF

HIHFWHOH

XQXL

DVHPHQHD

IHQRPHQ

UHVSHFWLY

PRGLILFDUHD

UH]XOWDWXOXL H[SORDW U

ii;
Ponderea cheltuielilor materiale se circumscrie n limitele

FDUDFWHULVWLFH GRPHQLXOXL vQ FDUH DFWLYHD]

VRFLHWDWHD LDU UHGXFHUHD DFHVWHLD

este efectul sporirii celorlalte cheltuieli ntr-R SURSRU LH PDL PDUH

1RW : ntr-R DVHPHQHD VLWXD LH vQ FDUH SUHvederile sunt realizate, nu
VH LPSXQ P VXUL GH FRUHF LH FL SH ED]D LQIRUPD LHL GH VWDUH VH FRQWLQX

activitatea potrivit programului stabilit.

Q FHHD FH SULYHWH VWUXFWXUD SH SULQFLSDOHOH HOHPHQWH FRPSRQHQWH VH

are n vedere ncadrarea acesteia n limitele specifice domeniului de

DFWLYLWDWH SUHFXP L H[HPSOLILFDUHD DEDWHULORU VHPQLILFDWLYH LDU vQ IXQF LH
GH VLWXD LD FRQFUHW  VH VWDELOHWH FDGUXO RSHUD LRQDO

 0RGHOHOH GH DQDOL]

IDFWRULDO

D FKHOWXLHOLORU PDWHULDOH

Cheltuielile materiale aIHUHQWH H[SORDW ULL SRW IL DQDOL]DWH FD QLYHO OD

1000 lei venituri (Cm) pe baza modelului:
giCmi
,
Cm =
100
unde:
gi
= structura veniturilor;
Cmi = cheltuielile materiale la 1000 lei pe categorii de venituri, care
UHSUH]LQW

L IDFWRUL GLUHF L GH LQIOXHQ

(YLGHQ LHUHD
QHFHVDU

PRGLILF ULORU

SHQWUX DSUHFLHUHD FRUHFW

YHQLWXULORU GLQ SURGXF LD VWRFDW

LQWHUYHQLWH

vQ

YHQLWXULORU

HVWH

L LPRELOL]DW 

0HWRGRORJLD GH GHWHUPLQDUH D FHORU GRX

FHD SUH]HQWDW

VWUXFWXUD

D VLWXD LHL GDW ILLQG PRGXO GH IRUPDUH D

LQIOXHQ H HVWH VLPLODU

FX

vQ SDUDJUDIHOH DQWHULRDUH

&KHOWXLHOLOH

PDWHULDOH

FRQVWLWXLH SDUWHD SUHSRQGHUHQW

OD



OHL

FLIU

GH

DIDFHUL

&P

FDUH

D YHQLWXULORU GLQ H[SORDWDUH VH DQDOL]HD]

FX

ajutorul modelului:
Cm =

q cm
1000,
qp

unde:
cm = cheltuieli materiale pe produse.
3H

DFHDVW

ED]

SRW

IL

FRQVWUXLWH

DSOLFDWH

IDFWRULDOH $VWIHO XQ SULP VLVWHP DUH vQ FRPSRQHQ

GLIHULWH

VLVWHPH

FD IDFWRUL GLUHF L

VWUXFWXUD SURGXF LHL YkQGXWH IDEULFDWH

SUH XULOH PHGLL GH YkQ]DUH

cheltuielile materiale pe unitate de produs.

([SOLFDUHD L DSOLFDUHD PHWRGRORJLHL LPSOLF

XUP WRDUHOH LQIRUPD LL

(Tabelul 3.15).
Tabelul 3.15
(mil. lei)
Nr.
crt.
1
2
3
4
5

3UHY ]XW

Indicatori
Cheltuieli materiale aferente cifrei de afaceri
Cheltuieli materiale aferente cifrei de afaceri, recalculate
Cifra de afaceri
&LIUD GH DIDFHUL UHFDOFXODW
&KHOWXLHOL PDWHULDOH OD  OHL FLIU

GH DIDFHUL

- lei

Realizat

2344
X
4007
X
585

2546
2450
4375
4500
582

1RW : Pentru recalcularea cheltuielilor materiale, o solu LH R SRDWH

constitui corectarea cheltuielilor materiale realizate cu indicele mediu al
SUH XULORU PDWHULDOHORU ,p L UHVSHFWLY DO FRQVXPXULORU VSHFLILFH ,cs).
q1cm1
q1cm 0 =
I p I cs
0RGLILFDUHD FKHOWXLHOLORU PDWHULDOH OD  OHL FLIU

GH DIDFHUL

(Cm)

de 3 lei (582  VH H[SOLF SULQ LQIOXHQ D

a) structurii cifrei de afaceri

q1cm0 1000 q0cm0 1000 = 2450 1000 2344 1000 =

4500
4007
q1p0
q0p0

= 544,4 585 = 40,6 lei

E SUH XULORU PHGLL GH YkQ]DUH

q1cm0 1000 q1cm0 1000 = 2450 1000 544,4 =

4375
q1p1
q1p0

= 560 544,4 = + 15,6 lei

c) cheltuielile materiale pe produse
q1cm 0
q1cm1
1000
1000 = 582 560 = +22,0 lei
q1p1
q1p1
$QDOL]D IDFWRULDO

SXQH vQ HYLGHQ

IDSWXO F

UHGXFHUHD FKHOWXLHOLORU

materiale la 1000 lei s-a realizat exclusiv pe seama structurii cifrei de

DIDFHUL vQ FDGUXO F UHLD V-D P ULW SRQGHUHD SURGXVHORU FX PDQRSHU
PDL
mare, n WLPS FH FKHOWXLHOLOH PDWHULDOH SH SURGXVH DX FUHVFXW Q FRQVHFLQ 
ntr-R DVHPHQHD VLWXD LH VH LPSXQH VWDELOLUHD FDX]HORU FDUH DX GHWHUPLQDW-o
L DGRSWDUHD P VXULORU FRUHVSXQ] WRDUH

3.8.1.3 Analiza cheltuielilor cu materialele

Q
SULPH

FRPSRQHQ D

PDWHULDOHOH

FKHOWX

ielilor materiale, cele care privesc materiile

FRQVXPDELOH

vQ

JHQHUDO

GH LQ

SRQGHUHD

FHD

PDL

LPSRUWDQW  UHSUH]HQWkQG DVWIHO SULQFLSDOXO GRPHQLX vQ FDUH VH SRDWH DF LRQD

SHQWUX VSRULUHD HILFLHQ HL DFWLYLW

LL

Analiza acestor cheltuieli se poate face pe baza indicatorului sintetic,

FKHOWXLHOLOH FX PDWHULDOHOH OD  OHL YHQLWXUL GLQ H[SORDWDUH UHVSHFWLY FLIU

de afaceri, folosindu-se modelele prezentate anterior.

*HVWLRQDUHD

FRUHVSXQ] WRDUH

UHVXUVHORU

PDWHULDOH

LPSXQH

efectuarHD GH DQDOL]H RSHUDWLYH SH IHOXUL L UHVSHFWLY JUXSH GH PDWHULDOH SH

produse sau locuri consumatoare de materiale. Astfel, pentru un material,
VXPD WRWDO
D FRQVXPXOXL FKP VH H[SULP
SULQ UHOD LD FKP
T cs p,
n care:
q = SURGXF LD IDEULFDW
cs = consumul specific
p = SUH XO GH LQFOXGHUH vQ FRVWXUL
5H]XOW

DEDWHUHD ID

GH R ED]

GH FRPSDUD LH VH H[SOLF

SULQ

LQIOXHQ D

q0)cs0 p0,

SURGXF LHL IDEULFDWH HFDUWXO GH DFWLYLWDWH T1

consumului specific q1(cs1 cs0)xp0,

SUH XOXL PHGLX GH includere n costuri q1 cs1(p1 - p0).

7UHEXLH UHPDUFDW IDSWXO F

vQ

IXQF LH

SRQGHUDW

iQWU

GH

PHWRGD

PHWRGD

GH

SULPHL

SUH XO PHGLX GH LQFOXGHUH vQ FRVWXUL GLIHU

HYDOXDUH

IRORVLW 

LQWU UL SULPHL

UHVSHFWLY

LHLUL

VDX

FRVWXO

PHWRGHL

PHGLX

XOWLPHL

UL SULPHL LHLUL

Q FD]XO PDWHULDOHORU RPRJHQH YDORDUHD WRWDO

VH H[SULP

SULQ UHOD LD

chm)

D FRQVXPXOXL 

chm = (Ct p),

unde:
&W

FDQWLWDWHD FRQVXPDW
&D

XUPDUH

GLQWU

IDFWRULL

-un material (q cs)

FDUH

GHWHUPLQ

PRGLILFDUHD

FKHOWXLHOLORU

materiale sunt:

FDQWLWDWHD FRQVXPDW

( Ct 1 Ct 0 ) p 0

structura materialelor consumate

(Ct 1 p ) ( Ct 1 )p
0
0

SUH XO PDWHULDOHORU

8Q
FRUHFW

(Ct1 p1 ) (Ct1 p0 )

DVHPHQHD

PRGHO

D HYROX LHL FKHOWXLH

GH

DQDOL]

HVWH

QHFHVDU

SHQWUX

DSUHFLHUHD

lilor cu materialele pe centre de responsabilitate

RELHFWLYH GH FRQVWUXF LL FDWHJRULL GH OXFU UL HWF

Exemplu:
Tabelul 3.16
Denumire
material
A
B
TOTAL

normat
SUH

tone

Total
mii lei
57000
54000
11100

lei
57000
54000
55500

100
100
200

0RGLILFDUHD WRWDO

realizat
SUH

tone
95
125
220

lei
57500
53900
X

Recalculat
col 4 u 2
5420
6750
12170

Total
mii lei
5460
6740
12200

HVWH GH  PLL OHL 

11100) din care

GDWRULW 

FDQWLW

(220 200) 55500 = + 11100 mii lei

structurii materialelor consumate
12170 (220 55500) = -40 mii lei

LL FRQVXPDWH

SUH XOXL PDWHULDOHORU

12200 12170 = +30 mii lei

QWUXFkW

GHS LUHD

FKHOWXLHOLORU

HVWH

GHWHUPLQDW

H[FOXVLYLWDWH GH FDQWLWDWHD FRQVXPDW  HVWH QHFHVDU V

DFHDVWD VH GDWRUHD]

DSURDSH

VH VWDELOHDVF

vQ

FkW GLQ

SURGXF LHL L FkW FRQVXPXOXL VSHFLILF SHQWUX D VH SXWHD

OXD GH F WUH IDFWRULL GH U VSXQGHUH P VXULOH FRUHVSXQ] WRDUH

&X WLWOX GH H[HPSOX VH SUH]LQW

XQ PRGHO GH DQDOL]

D FKHOWXLHOLORU

cu materialele, practicat n ntreprinderile franceze (Tabelul 3.17)

Tabelul 3.17
(materialul X)

Elemente
constatate

pe
Kg F

6
4

Valorile
comparabile

20400

5,5

1800
1600
3700

materialelor
consumate

QPHG F#E(DB
I
C

300 P1
400 P2
330 P1

US
DTR

Elemente
SUHY ]XWH

Cantitatea

W5G DVR
US

Cantitatea
de
materiale
pe produs
Kg

20350

` S a`B C X
`Y

Nr. de
produse
fabricate
n perioada

5,5

- favorabile
+ nefavorabile

Favorabile
privind
SUH XO

420 P2

F
- Modificare

- 50

WRWDO

3700 5,5 = 20350

$QDOL]D PRGLILF ULL WRWDOH

- Cost
constant

Modificarea
1850 F

SUH XOXL

3700 6 = 22200

Costul
prestabilit la
consumul
realizat
Costul
prestabilit la
consumul

Modificarea
materialelor
consumate
- 1610 F

Modificarea
330

FDQWLW

1980
1680

LL

FRQVXPDW

+ 240 F

SUHY ]XW

aferent
SURGXF LHL

420

3660 6 = 21960

realizate
&RVW SUHY ]XW OD FRQVXP

20400

Modificarea
volumului de
activitate +1560F

WRWDO SUHY ]XW

Modificare

- 50 F

WRWDO

Q
LPSRUWDQW

DQDOL]D
R

FKHOWXLHOLORU

SUH]LQW

FX

HYDOXDUHD

UHGXFHUH D DFHVWRUD 7UHEXLH I FXW

PDWHULDOHOH
P VXULORU
SUHFL]DUHD F

SUREOHP

WHKQLFR

GHRVHELW

GLPHQVLRQDUHD UD LRQDO 

HILFLHQW  D FRQVXPXULORU VSHFLILFH HVWH vQ SULPXO UkQG R SUREOHP

SURLHFWDUH L H[HFX LH D SURGXVXOX
$FHDVWD
PDWHULDOH

QX

LQFOXVLY

patrimoniului.

GH

-organizatorice de
WHKQLF

GH

i.

H[FOXGH

vQV

GLQ

SXQFW

LPSRUWDQ D
GH

EXQHL

YHGHUH

DO

JHVWLRQ UL
DVLJXU ULL

UHVXUVHORU
LQWHJULW

LL

3UDFWLFD HFRQRPLF

RIHU

SHQWUX D PLFRUD FRQVXPXULOH I U

R PXOWLWXGLQH GH SRVLELOLW

L GH LQWHUYHQ LH

a afecta competitivitatea produselor.

3.8.1.4 Analiza cheltuielilor cu amortizarea

&KHOWXLHOLOH FX DPRUWL]DUHD DYkQG XQ FDUDFWHU FRQYHQ LRQDO FRQVWDQW
vQ

OLPLWHOH

SUHFL]DWH

H[SORDWDUH VDX FLIU

VH

DQDOL]HD]

FD

QLYHO

OD



OHL

YHQLWXUL

GLQ

GH DI

aceri (Ca) pe baza modelului:

A
Ca =
1000,
CA

n care:
$

VXPD DQXDO

Dar,

D DPRUWL] ULL LQFOXV

M
A
A
1000 = f
Ca M
CA
f

vQ FRVWXUL

1000,

unde:
raportul

Mf
, FDUDFWHUL]HD]
CA

A
= FRWD
MF

HILFLHQ D XWLOL] ULL DFWLYHORU IL[H

PHGLH GH DPRUWL]DUH

FD vQ FDUH VH VLQWHWL]HD]

VWUXFWXUD

SH

FDWHJRULL GH DFWLYH IL[H FRWHOH GH DPRUWL]DUH SH ILHFDUH FDWHJRULH LQIOXHQ DWH

L GH VLVWHPXO GH DPRUWL]DUH SUDFWLFDW
Q FRQVHFLQ
FLIU

&D HVWH GHWHUPLQDW GH

randamentul activelor fixe
M f1 M f 0
ca 1000

CA
1 CA 0

cota medie de amortizare

M f0
(ca1 ca 0 ) 100
CA1

GH DIDFHUL 

 PRGLILFDUHD FKHOWXLHOLORU FX DPRUWL]DUHD OD  O

ei

GLQ FDUH LQIOXHQ D

structurii pe categorii de active fixe

M f1
CA1

unde:
ca = cota meGLH

(ca ca 0 ) 1000

UHFDOFXODW

vQ IXQF LH GH VWUXFWXUD HIHFWLY

D PLMORDFHORU

SH ED]D YDORULORU PHGLL EUXWH L FRWHOH GH DPRUWL]DUH SH

IL[H FDOFXODW

categorii de active fixe;

cotele de amortizare pe categorii de active fixe

M f1

(ca1 ca ) 1000
CA1
Metodologia prezenWDW HVWH

XWLO

vQ

GLDJQRVWLFXO

VRFLHW

LL

vQ

H[SOLFDUHD XQHL VLWXD LL GDWH vQ UDSRUW GH XQ FULWHULX FRQVLGHUDW (VWH HYLGHQW

IDSWXO F  vQ DFWLYLWDWHD SUDFWLF  vQ FRQGL LLOH VSRULULL vQ]HVWU ULL WHKQLFH PDL
EXQD IRORVLUH D DFWLYHORU IL[H UHSUH]LQW

IDF

torul principal de reducere a

FKHOWXLHOLORU FX DPRUWL]DUHD SH SURGXVH L UHVSHFWLY OD  OHL FLIU

GH

afaceri.
Q IXQF LH GH QHFHVLW

L DQDOL]D SRDWH IL H[WLQV

OD QLYHOXO GLIHULWHORU

FDWHJRULL GH DFWLYH IL[H SHQWUX D HYLGHQ LD LQIOXHQ D SH FDUH R DU

e gradul de
folosire al acestora asupra cheltuielilor cu amortizarea. Metodologia se
ED]HD]

SH IDSWXO F

VXPD DPRUWL] ULL OXQDU  DQXDO  HVWH FRQVWDQW  L R

VSRULUH D UDQGDPHQWXOXL DFWLYHORU IL[H FRQGXFH OD UHGXFHUHD DPRUWL] ULL SH

produs sau lucrare.

3.9 Analiza cheltuielilor cu personalul

 $QDOL]D VLWXD LHL JHQHUDOH D FKHOWXLHOLORU FX SHUVRQDOXO
Q

FDGUXO

DFHVWHL

HWDSH

VH

XUP UHWH

FXQRDWHUHD

HYROX LHL

WHQGLQ HL XQRU DVHPHQHD FDWHJRULL GH FKHOWXLHOL vQ UDSRUW L GH DF LXQHD XQRU

factori conjuncturali, folosindu-se ca indicatori ponderea n totalul

FKHOWXLHOLORU L QLYHOXO OD  OHL YHQLWXUL GLQ H[SORDWDUH UHVSHFWLY FLIU

GH

afaceri.
&kW SULYHWH VWUXFWXUDUH

a cheltuielilor cu personalul, aceasta poate

avea n vedere mai multe criterii, cum ar fi:

elementele componente, salariile tarifare, respectiv, negociate,

VSRUXUL DFRUGDWH SH FDWHJRULL SUHPLL WD[H GH SURWHF LH VRFLDO 
LPSR]LWH

HWF

SUH]LQW

LPSRUWDQ

vQ

GHOLPLWDUHD

FKHOWXLHOLORU

care sunt reglementate prin acte normative L DVXSUD F

URUD ILUPD

QX SRDWH DF LRQD

FDWHJRULLOH GH SHUVRQDO PXQFLWRUL LQJLQHUL HFRQRPLWL HWF VXQW

XWLOH SHQWUX PDUFDUHD PXWD LLORU FDUH V

-au produs n structura

SHUVRQDOXOXL SHQWUX HYHQWXDOHOH FRPSDUD LL FX ILUPH VLPLODUH

formele de salarizarH
acestora;

vQ

UDSRUW

GH

ORFDOL]DUHD

PRGXO

SUDFWLFDWH SHQWUX D FDUDFWHUL]D HILFLHQ D

GH

UH]HUYHORU

LQFOXGHUH

vQ

H[LVWHQWH

FRVWXUL

SHQWUX

HVWH

QHFHVDU

VSRULUHD

vQ

HILFLHQ HL

cheltuielilor cu salariile.
)LHFDUH GLQ DFHVWH JUXS UL L DOWHOH VXQW XWLOL]DWH vQ IXQF LH GH VFRSXO
XUP ULW

 $QDOL]D HILFLHQ HL FKHOWXLHOLORU FX VDODULLOH

(ILFLHQ D

FKHOWXLHOLORU

VDODULDOH

SRDWH

IL

DQDOL]DW

FX

DMXWRUXO

indicatorilor:

cheltuieli salariale la 1000 lei venituri din exploatare;

cheltuieli salariale la 1000 OHL FLIU GH DIDFHUL

FKHOWXLHOL VDODULDOH OD  OHL YDORDUH DG XJDW 

Q WRDWH FHOH WUHL VLWXD LL SRW IL XWLOL]DWH vQ DQDOL]

FRUHOD LH FkW L FHOH PXOW

DWkW PRGHOHOH GH

iplicative. Astfel, n cazul cheltuielilor salariale la

1000 lei venituri din explRDWDUH &V PRGHOXO GH FRUHOD LH HVWH

Fs
Cs =
1000,
Ve
unde:
Fs = fondul de salarii (inclusiv elementele aferente)
'HFL PRGLILFDUHD FKHOWXLHOLORU VDODULDOH ID
&V VH H[SOLF

GH R ED]

SULQ LQIOXHQ D

sumei veniturilor
Fs 0 Fs0

Ve Ve 1000

0
1

sau

Cs 0
Cs 0 ,
Ive

GH FRPSDUD LH

unde:
Ive = indicele veniturilor
sumei cheltuielilor salariale
Fs1 Fs 0
Cs 0

Ve Ve 1000 sau Cs1 Iv ,

1
e
1
(YLGHQW ILLQG XQ

PRGHO GH

FRUHOD LH

VXPD

YHQLWXULORU

WUHEXLH

vQUHJLVWUH]H XQ ULWP GH FUHWHUH VXSHULRU FKHOWXLHOLORU VDODULDOH

Ca model mulWLSOLFDWLY SRDWH IL IRORVLW XUP

N Fs
Cs =
1000,
Ve N
n care:
N = QXP

WRUXO

UXO GH VDODULD L

Q FRQVHFLQ

&V VH H[SOLF

QXP UXOXL

GH

VDODULD L

H[SULPDUH D SURGXFWLYLW

SULQ LQIOXHQ D
OD

OHX

YHQLWXUL

IRUP

LQYHUV

GH

LL PXQFLL

N1 Fs 0

Ve N 1000 Cs 0
0
1

FKHOWXLHOLOH PHGLL SH R SHUVRDQ

N Fs
Cs1 1 0 1000
Ve N
0
1

DFHVW

SURGXFWLYLW

PRGHO

SXQH

vQ

HYLGHQ

FRUHOD LD

GLQWUH

FUHWHUHD

LL PXQFLL L D VDODULXOXL PHGLX FRUHOD LH DEVROXW QHFHVDU

SHQWUX

VSRULUHD HILFLHQ HL FKHOWXLHOLORU VDODULDOH

1RW

0HWRGRORJLD SUH]HQWDW

LQGLFDWRUL FX GHRVHELUHD F
FLIUD

GH

DIDFHUL

VH DSOLF

VLPLODU L vQ FD]XO FHORUODO L

VXPD YHQLWXULORU GLQ H[SORDWDUH VH YD vQORFXL FX

UHVSHFWLY

YDORDUHD

DG XJDW 

DYkQGX

-se n vedere

UHFRPDQG

SHQWUX

FDUDFWHUL]DUHD

VHPQLILFD LD DFHVWRUD
7HRULD
VLWXD LHL

FRUHOD LHL

SUDFWLFD
GLQWUH

HFRQRPLF
GLQDPLFD

SURGXFWLYLW

LL

VDODULXOXL

PHGLX

FRHILFLHQWXO FRUHOD LHL .U H[SULPDW SULQ UHOD LLOH

Kr =
sau Kr =

Is 100
, VH
Iw 100

Is
.
Iw

DSOLF

GH

UHJXO

GDF

DPELL

LQGLFL

VXQW



Pentru exemplificare, se folosesc GDWHOH XUP

WRDUH WDEHOXO 

):

Tabelul 3.18

110,96

106

Indicele salariului mediu

Indicele SURGXFWLYLW LL
(calculul pe baza cifrei de afaceri)

105
105,7

0,8772

0,9811

1
2

Pn
P0

100

Indicatori

Pn
Pn 1

0,6667

Nr.
crt.

P0
Pn 1

0,9934

&RHILFLHQWXO GH FRUHOD LH

Is 100
Iw 100
Is
Iw

Indicele cheltuielilor cu personalul la 1000 lei

FLIU

GH DIDFHUL

'DWHOH

necesDU

SUH]HQWDWH

DUDW

V D

98,11

UHVSHFWDW

99,72

99,34
GH

101,24

SULQFLSLX

 GDU QX OD QLYHOXO SUHY ]XW FRHILFLHQWXO GH FRUHOD LH V

FRUHOD LD

-a majorat),
ituri cu

FHHD FH DUH FD HIHFW FUHWHUHD FKHOWXLHOLORU FX VDODULLOH OD  OHL YHQ

1,24%.
n raport de productivitatea muncii realizate, cu respectarea
FRUHOD LHL SUHY ]XWH LQGLFHOH VDODULXOXL PHGLX VH GHWHUPLQ

SH ED]D UHOD LHL

Is = [(Iw 1)Kr0] + 1 sau Is = Iw Kr0 vQ IXQF LH GH PRGXO

este calculat Kr0 (ca raporW DO VSRUXULORU VDX FD SURSRU LH
Aplicnd formula a doua Is = 1,057 0,9811 = 1,037022.
Q FRQVHFLQ

 LQGLFHOH VDODULXOXL PHGLX ID

vQ FDUH

GH SUHYHGHUL WUHEXLH V

1,037022
fie
= 0,9972, DGLF HJDO FX FHO DO SURGXFWLYLW LL PXQFLL FHHD FH DU
1,04
fi condus OD vQFDGUDUHD vQ QLYHOXO SUHY ]XW DO FKHOWXLHOLORU FX VDODULLOH OD 
lei venituri din exploatare.
Q DFWLYLWDWHD XQHL VRFLHW
DSDU

L FRPHUFLDOH vQ OHJ WXU

R PXOWLWXGLQH GH DVSHFWH FDUH WUHEXLH V

pHQWUX

FX VDODULLOH SRW V

ILH VROX LRQDWH FRUHVSXQ] WRU

D GLPLQXD SLHUGHULOH GHWHUPLQDWH GH FRQIOLFWHOH GH PXQF  QWU

DVHPHQHD FRQWH[W SRDWH IL vQVFULV

VDWLVIDFHULL XQRU UHYHQGLF UL VDODULDOH 3UDFWLF HVWH QHFHVDU

OLPLWH PD[LPH GH FUHWHUH D

-un

L SUREOHPD QHJRFLHULL VDODULLORU VDXL

salariilor.

VWDELOLUHD XQHL

Exemplu:
1. Cifra de afaceri
2. Cheltuieli aferente

4000 mil. lei

3200 mil. lei
900 mil. lei
2300 mil. lei
800 mil. lei
2500 mil. lei
375 mil. lei

 GLQ FDUH VDODULL L HOHPHQWHOH DIHUHQWH )V

4. Restul cheltuielilor (M)

 5H]XOWDWXO H[SORDW ULL 5(

6. Capital propriu
7. Profit net

0DMRUDUHD VDODULLORU SRDWH IL DFRSHULW GH UH]XOWDWXO H[SORDW ULL FHHD FH YD

FRQGXFH OD GLPLQXDUHD SURILWXOXL QHW FX FRQVHFLQ HOH FDUH GHFXUJ GH DLFL VDX
QHJRFLHUHD SUH XULORU GH YkQ]DUH SHQWUX PHQ LQHUHD SURILWXOXL
Q SULPD LSRWH]  OLPLWD PD[LP
H[SORDW ULL

UH]XOWDWXO

FHHD

GH PDMRUDUH D VDODULLORU R FRQVWLWXLH

FH

vQ

SURFHQWH

vQVHDPQ

RE
800
100 respectiv,
100 = 88,89%.
Fs
900
$FHVW OXFUX VH YHULILFD SULQ UHOD LD

RE

M + Fs1 +

Fs 2300 + 900 1,8889

=
=1
CA
4000

'DF
PLFRUHD]
DO

VDODULLOH

VH

PDMRUHD]

FX  PLO OHL 

H[SORDW ULL

FLIUD

GH

DIDFHUL

FX



UH]XOWDWXO

H[SORDW ULL

 3HQWUX D VH PHQ LQH DFHODL UH]XOWDW

WUHEXLH

FUHDVF

FX

XQ

DQXPLW

GHWHUPLQDW GH FRWD GH PDMRUDUH D VDODULLORU L SRQGHUHD DFHV

afaceri. n cazul dat 0,20

6SRULUHD

FLIUHL

GH

VH

900
= 0,045 sau 4,5%.
4000
DIDFHUL

FX



PLO

HFKLYDOHQWXO PDMRU ULL VDODULLORU Q DFHVWH FRQGL LL QX VH PRGLILF

UH]X

H[SORDW ULL L SURILWXO QHW FDUH LQWHUHVHD]



UHSUH]LQW

SURFHQW

tora n cifra de

OHL

ltatul

SH S

roprietarii capitalului.
n ipoteza stabilirii unui prag minim de rentabilitate, de exemplu,



ID

GH FDSLWDOXO SURSULX OLPLWD PD[LP

GH PDMRUDUH D VDODULLORU YD IL

800 250

100 = 61%
900

QORFXLQG vQ UHOD LD SUHFHGHQW  UH]XOW

2300 + 900( + 0,61)

1
= 0,93725,
4000

GHFL XQ FRHILFLHQW VXEXQLWDU FHHD FH DUDW

XQLWDWHD HVWH UHQWDELO   

 $XWRFRQWUROXO XWLOL]

,QGLIHUHQW

GH

IRUPD

GH

0,93725) = 250 mil. lei.

ULL IRQGXOXL GH VDODULL

SURSULHWDWH

autocontrol asupra PRGXOXL vQ FDUH HYROXHD]

FH

SUDFWLF

vQFDGUDUHD

vQVHDPQ

UHFRQVLGHUDWH DVWIHO vQFkW V

vQ

ILUPD

WUHEXLH

H[HUFLWH

XQ

FKHOWXLHOLOH FX PDQRSHUD FHHD

DQXPLWH

OLPLWH

SUHVWDELOLWH

VDX

VH DVLJXUH UHDOL]DUHD LQGLFDWRULORU GH HILFLHQ

SUHY ]X L

Ca limite prestabilite pot fi consideUDWH

QRUPHOH

GH

PXQF 

vQ

YLJRDUH OD GDWD UHVSHFWLY  SUHFXP L IRQGXO GH VDODULL SUHY ]XW SODQLILFDW

OD QLYHOXO ILUPHL L VXEXQLW

LORU RUJDQL]DWRULFH 3UDFWLF DFHDVWD vQVHDPQ

OXQDU WULPHVWULDO L OD ILQHOH DQXOXL RGDW

VH

IDF

FRPSDUD LH

FX

IRQGXO

irea statelor GH SODW  V

planificat2, stabilindu-VH DVWIHO DD-numita

Fs).
Fs = Fs1 Fs0 = - HFRQRPLH DEVROXW

PRGLILFDUH DEVROXW

F 

FX vQWRFP

  GHS LUH DEVROXW

Exemplu:
Cazul (mil. lei)
A
B
2560
2734
2579
2579
-19
+155

1. Fond de salarii efectiv

2. Fond salarii planificat
 'LIHUHQ
 2)
$GPL kQG F

GUHSWXULOH GLQ VWDWHOH GH VDODULL VXQW FDOFXODWH vQ UDSRUW

GH PXQFD SUHVWDW  vQ SULPD VLWXD LH FD]XO $ FRQVLGHU P F

GHFL]LH DL XQLW

LL SRW V

RUGRQDQ H]H HIHFWXDUHD SO

IDFWRULL GH

LL

Q VLWXD LD GHS LULL DEVROXWH FD]XO % HVWH QHFHVDU

UHFRQVLGHUDUHD

OLPLWHL LQL LDOH SULQ UHFDOFXODUHD DFHVWHLD

2 DVHPHQHD UHFDOFXODUH HVWH MXVWLILFDW  SULQ DFHHD F  vQWUH YROXPXO
GH

DFWLYLWDWH

OHJ WXU

DO

vQWUHSULQGHULL

GLUHFW  vQ HOHDV

GLQDPLFD

IRQGXOXL

GH

VDODULL

H[LVW

XQHRUL L FD R FRUHOD LH GH SURSRU LRQDOLWDWH

3UREOHPD FDUH VH SXQH HVWH RS LXQHD SHQWUX FULWHULLOH vQ IXQF LH GH

FDUH

IL

I FXW

UHFDOFXODUHD

IRQGXOXL

GH

VDODULL

'H

SULQFLSLX

5g yi hc w(i di 7#p#f5s 5i 5(5i 5t

w i u pc d ycipig w
hip wi
#(5 hs (#t hui w h i 7f 3i#7 hi (#gq#i yi r#s 5s d4sD4 hy w x w#vf5sDq#q hi #f ec b
u w u t xi i p g w t xs i p u h h u y t ir
f u t gr i p g c d

SRDWH

FRQVLGHU P F
vQWUHJXO

WUHEXLH V

FRQVXP

GH

VH IRORVHDVF

PXQF

YLH

FX

DFHO LQGLFDWRU vQ FDUH VH UHJ VHWH

DFRSHULUH

PDWHULDO 

SURGXVH

OXFU UL

executate, servicii etc., respectiv, veniturile din exploatare.

5H]XOWDWXO FRPSDUD LHL GLQWUH IRQGXO GH VDODULL VWDELOLW )V1 L FHO

reFDOFXODW )U SRDUW GHQXPLUHD GH PRGLILFDUH UHODWLY 

Fs1 Fr = -HFRQRPLH UHODWLY  GHS LUH UHODWLY

)RQGXO GH VDODULL UHFDOFXODW VH SRDWH GHWHUPLQD SH ED]D UHOD LLORU

I) Fr =

Fs 0 Iq
,
100

unde:
Iq

venituri din exploatare realizate

YHQLWXUL GLQ H[SORDWDUH SUHY ]XWH

LQkQG VHDPD GH IDSWXO F

L FKHOWXLHOLOH FX VDODULLOH VH SRW vPS U L vQ

YDULDELOH L IL[H VH SRDWH IRORVL L UHOD LD

II) Fr =

Fv 0 Iq
+ Fc1,
100

unde:
Fv0 PDQRSHUD YDULDELO GH UHJXO GLUHFW 
Fc1 = Fondul de salarii constant (fix) efectiv
Q

VLWXD LD

LQGH[ ULL

VDODULLORU

UH]XOWDWXO

RE LQXW

VH

FRUHFWHD]

FX

coeficientul K luat n calcul la stabilirea drepturilor individuale n perioada

UHVSHFWLY 
1RW  5HFDOFXODUHD VH IDFH SH ED]D GDWHORU FXP
SHULRDGHL 2S LXQHD SHQWUX R YDULDQW

ulate, de la nceputul

VDX DOWD HVWH vQ IXQF LH GH FRQGL LLOH GH

VDODUL]DUH VWDELOLWH FX IRUPD LLOH GH PXQF 

Exemplu:

1. Fond de salarii efectiv

2. din care: - variabile
3.
- fixe
4. Fond de salarii planificat
5. din care: - variabile
6. Venituri din exploatare planificate
7. Venituri din exploatare realizate

Cazul (mil. lei)

A
B
2737
2737
2350
2350
387
387
2579
2579
2230
2230
45400
45400
48940
43500

8. Indicele de realizare a veniturilor (%)

9. Fond de salarii recalculat
(rd. 4 rd. 8)

107,8
2780

5H]XOW
UHODWLY 

FDUH

SURGXFWLYLW

2530

-54

+207

F  vQ FD]XO $ vQ DPEHOH VLWXD LL V D RE LQXW R HFRQRPLH

HVWH

XQ

HIHFW

DO

UHVSHFW ULL

FRUHOD LHL

GLQWUH

FUHWHUHD

LL L D VDODULXOXL PHGLX Q FD]XO % VLWXD LD HVWH LQYHUV 

&H
vQVXPHD]

+258

2791

(rd. 1 rd. 9)
11. Fond de salarii recalculat (II)
(rd. 5 rd. 8 + rd. 3)
12. ModificarH UHODWLY
(rd. 1 rd. 11)

2479

-43

 0RGLILFDUH UHODWLY

96,12

IDFH

FRQGXFHUHD

XQLW

LL

"

DPEHOH

FD]XUL

VWDWHOH

GH

SODW

 PLO OHL

Pentru cazul A:
QWUHSULQGHUHD
UHVSHFWLY

SRVLELOLWDWHD

VROLFLW

E QFLL

RQRUHD]
V

ILH

HOLEHUDUHD

GUHSWXULOH

VROLFLWDW

IRQGXOXL

LQGLYLGXDOH

IRQGXO

UHFDOFXODW

GH

$U
L

VDODULL

H[LVWD

GDF

QX

L
DX

LQWHUYHQLW PRGLILF UL GHRVHELWH vQ FRQGL LLOH GH PXQF  HFRQRPLD

UHODWLY
DGXV

SRDWH IL UHSDUWL]DW

VDODULD LORU vQ IXQF LH GH FRQWULEX LD

OD UHDOL]DUHD SURJUDPXOXL GH SURGXF LH 'DF

DX LQWHUYHQLW

DQXPLWH FRQGL LL QRL PHFDQL]DUHD XQRU RSHUD LL WHKQRORJLL QRL

HWF FDUH DX IDYRUL]DW FUHWHUHD SURGXFWLYLW
DFWLYLW

LL

DFHVWRUD

vQWUHSULQGHULL
XUPkQG

FD

HFRQRPLD
QXPDL

VH

LL PXQFLL FD HIHFW DO

FRUHFWHD]

GLIHUHQ D

FX

ILH

LQIOD LD

UHSDUWL]DW

VDODULD LORU

Pentru cazul B:
'DF

QX VXQW FRQGL LL

E QFLL
UHODWLY

YD

IL

YD

WRW

IL

OD

RELHFWLYH GHRVHELWH

QLYHOXO

VXSRUWDW

GH

IRQGXOXL
VXEXQLW

VXPD VROLFLWDW

UHFDOFXODW
LOH

FDUH

QX

LDU
L

GH

GHS LUHD

-au realizat

SURJUDPXO GH SURGXF LH VWDELOLW

1RW
SUREOHP
WUHEXLH

: &RQVLGHU

H[FOXVLY
V

P F

D XQLW

XUP UHDVF

UHFDOFXODUHD IRQGXOXL GH VDODULL WUHEXLH V

LL FKLDU GDF

GRDU

UHDOL]DUHD

VH VROLFLW
FRQGL LLORU

pentru rambursarea creditelor la termenul stabilit.

ILH R

XQ vPSUXPXW EDQFD
VWDELOLWH

FX

GHELWRUXO

Un alt aspect al autocontrolului fondului de salarii, n special n

XQLW

LOH

IXQF LH

GH
GH

(YLGHQW

FRQVWUXF LL
YROXPXO

VH

GH

U VSXQGHUHD

UHIHU

OXFU UL
GLUHFW

OD

VWDELOLUHD

H[HFXWDWH
UHYLQH

GUHSWXULORU

LPSOLFLW

HILORU

GH

DO

LQGLYLGXDOH
WLPSXOXL

HFKLSH

PDLWULORU

FRQGXF WRULORU GH DQWLHUH SHQWUX PRGXO vQ FDUH VH HIHFWXHD]

H[HUFLWDUHD

XQXL FRQWURO GLUHFW OD WRDWH SXQFWHOH GH OXFUX GH F WUH FRQGXF WRULL DFWLYLW
VH IRORVHDVF

SRQWDMHOH

'LVSHUVDUHD vQ WHULWRULX D RELHFWLYHORU GH FRQVWUXF LH vQJUHXQHD]

ILQDQFLDUH D ILUPHL 'H DFHHD HVWH QHFHVDU V

vQ

OXFUDW

LL

DQXPLWH FRUHOD LL

GLQWUH GLIHUL L LQGLFDWRUL SHQWUX D SXWHD GHSLVWD HYHQWXDOHOH DEDWHUL vQ FHHD FH

SULYHWH
OkQJ

RELHFWLY

XQHL OXFU UL SH

VXSUDHYDOXDUHD XQRU GUHSWXUL $VWIHO H[HFXWDUHD

PDQRSHU 
GH

LPSOLF

FRQVWUXF LL

FKHOWXLHOL vQVHDPQ

L
VH

XQ

FRQVXP

FRQVWDW

GH

PDWHULDOH

GLVFUHSDQ H

HVWH QHFHVDU

R DQDOL]

vQWUH

'HFL

DFHVWH

OD

XQ

FDWHJRULL

GDF

GH

vQ GHWDOLX SHQWUX FODULILFDUHD

VLWXD LHL
Q
XWLODMHOH

DFHODL FRQWH[W VH vQVFULH

GH

RELHFWLY

FRQVWUXF LL

FKHOWXLHOLOH

FRQVLGHUDUH

SXQH

GH

SULQ

XUP ULUHD HYROX LHL FKLULHL SHQWUX

PDFDUDOH

EHWRDQH

IL]LF

DSH

H[HFX LH

HYLGHQ

DQXPLWH

PDQRSHUD vQUHJLVWUDW

Q LSRWH]D F
DF LRQH]H

vQ

H[HPSOX

SHQWUX

VWDGLXOXL

cheltuieli poaWH
FRQFOX]LD F

GH

WXUQ

vQ

PRUWDUH

OXFU ULORU

HOHPHQWH

QX VH MXVWLILF

IXQF LXQH

RUJDQLVPHORU

vQ

(YROX LD

FDUH

DFHVWRU

FRQGXF

OD

vQ WRWDOLWDWH

DSDU DVHPHQHD VLWXD LL FRQGXFHUHD XQLW

LQWHUPHGLXO

XQ

OXDUHD

FX

OD

LQWHUQH

GH

LL WUHEXLH V

VSHFLDOLWDWH

pentru

UHFXSHUDUHD VXPHORU DFRUGDWH QHMXVWLILFDW L VDQF LRQDUHD vQ FRQIRUPLWDWH FX

QRUPHOH vQ YLJRDUH D FHORU YLQRYD L

3.10 Analiza cheltuielilor cu dobnzile

3HQWUX ILQDQ DUHD DFWLYLW
DSHOD

OD

vPSUXPXWXUL

LL GH SURGXF LH L LQYHVWL LL XQLW

EDQFDUH

SXUW WRDUH

DFHVWHD VH LQFOXG VDX QX vQ FRVWXUL vQ XOWLP

GH

GREkQ]L

LQVWDQ

,QGLIHUHQW

 DIHFWHD]

UHVSHFWLY GREkQGD DIHUHQW

SHULRDG 

HVWH FD]XO VH VWDELOHWH L QHFHVDUXO GH FUHGLWH

SULQ DFWH QRUPDWLYH VH SRW SUHYHGHD FDWHJRULL

GH FUHGLWH FDUH VH GLIHUHQ LD]

SHQWUX GLVSRQLELOLW

GDF

SURILWXO QHW

DO ILUPHL Q SUHYL]LRQDUHD QHFHVDUXOXL GH IRQGXUL SHQWUX R DQXPLW

SULQ EXJHWXO GH YHQLWXUL GDF

LOH SRW

SULQ SURFHQWXO GH GREkQG  vQ DFHODL WLPS

LOH SURSULL S VWUDWH OD EDQF  VH vQFDVHD]

XQ

procent de

GREkQG 
Q DQDOL]D FKHOWXLHOLORU FX GREkQ]LOH VH XUP UHWH HYROX LD DFHVWRUD
FRPSDUDWLY

FX

SHULRDGD

DQWHULRDU 

SUHFXP

ID

GH

SUHYHGHUL

explicndu-VH PRGLILFDUHD ORU SULQ SULVPD IDFWRULORU FDUH OH GHWHUPLQ 

Obiectul analizei l poate FRQVWLWXL DWkW VXPD DEVROXW 6G FkW L QLYHOXO ORU
OD  OHL FLIU

GH DIDFHUL &G

Q SULPXO FD] VH IRORVHWH PRGHOXO

Sd =

Ki d
,
100

unde:
Ki = capitalul mprumutat;
d = SURFHQWXO PHGLX GH GREkQG
3HQWUX

FUHGLWHOH

SRDWH IL H[SULPDW

DIHUHQWH


DFWLYLW

LL

GH

H[SORDWDUH

Sd =

Sm K d
100 2

GREkQ]LL

unde:
Sm = soldul mediu al activelor circulante;
K = FRWD SURFHQWXDO GH SDUWLFLSDUH D FUHGLWXOXL
circulante;
d
= procentul mediu de dobnG 
&D QLYHO OD  OHL FLIU
DQDOL]HD]

VXPD

SULQ UHOD LD

OD ILQDQ DUHD DFWLYHORU

GH DIDFHUL FKHOWXLHOLOH FX GREkQ]LOH VH

FX DMXWRUXO UHOD LHL

Cd =

1
Dz K d
T 10

unde:
T = perioada (360 zile);
Dz = YLWH]D GH URWD LH D DFWLYHORU FLUFXODQWH
)RUPXOD DQWHULRDU

UH]XOW

GLQ

CA
Dz K d
100 T
1000
CA
2

0RGLILFDUHD VXPHL DEVROXWH D GREkQ]LL VH H[SOLF

activelor circulante
1
(Sm1 Sm 0 )K 0 d 0
100 2

SULQ LQIOXHQ D

cotei de participare a creditului

1
Sm1 (K 1 K 0 )d 0
100 2

SURFHQWXOXL PHGLX GH GREkQG

1
100 2

Sm1 K 1 (d1 d 0 )

Care este semniILFD LD LQIOXHQ HORU UHVSHFWLYH?


XUPDUHD

0DMRUDUHD
FUHWHULL

DFWLYHORU

SURGXF LHL

FLUFXODQWH
vQ

SUHY ]XW  Q FD] FRQWUDU vQVHDPQ

vPSUXPXWXUL

VXSOLPHQWDUH

HVWH

FRQGL LLOH

MXVWLILFDW

PHQ LQHULL

QXPDL
YLWH]HL

GDF
GH

HVWH

URWD LH

R LPRELOL]DUH GH IRQGXUL L vQ FRQVHFLQ

SXUW WRDUH

GH

GREkQG

PDMRUDW

GH

FRWD

GH

participare a creditului.
 0RGLILFDUHD SURFHQWXOXL GH GREkQG

SRDWH IL H[SOLFDW

VFKLPE UL vQ VWUXFWXUD FUHGLWHORU GDF

astfel;
schimbarea proFHQWXOXL GH
inclusiv indexarea acesteia.

GREkQG

SULQ

SURFHQWXO HVWH GLIHUHQ LDW

SULQ

UHJOHPHQW UL

OHJDOH

&D QLYHO PHGLX OD  OHL SURGXF LH FKHOWXLHOLOH FX GREkQ]LOH VH

DQDOL]HD]

SULQ LQWHUPHGLXO IDFWRULORU

 9LWH]D GH URWD LH D DFWLYHORU FLUFXODQWH

1
(Dz1 Dz 0 ) K 0 d 0
T 10
2. Cota de participare a creditului
1
Dz1 (K 1 K 0 ) d 0
T 10

 3URFHQWXO PHGLX GH GREkQG

1
Dz1 K 1 (d1 d 0 )
T 10
0RGHOXO SUH]HQWDW SXQH vQ HYLGHQ
DUH

DFFHOHUDUHD

YLWH]HL

GH

URWD LH

vQ

LPSRUWDQ D GHRVHELW

GLPLQXDUHD

HIHFWXOXL

SH

SH FDUH R
FDUH

-l are

FRQWUDFWDUHD GH vPSUXPXWXUL PDL DOHV vQ FRQGL LLOH vQ FDUH GREkQGD DUH XQ

nivel ridicat.

3.11 Analiza costului pe produse

QFDGUDUHD vQ DF LXQHD DPSO
GH VSRULUH FRQWLQX
D UHQWDELOLW Li,
analiza costului pe produs constituie etapa de nceput care precede punerea
n aplicare a P VXULORU WHKQLFR-RUJDQL]DWRULFH PHQLWH V FRQGXF OD
economisirea resurselor consumate.
2UJDQL]DUHD

GHVI XUDUHD

SURGXVH HVWH FRQGL LRQDW

SUDFWLFLL

GH

DQDOL]

FRVWXULORU

GH PRGXO GH RUJDQL]DUH D HYLGHQ HL FKHOWX

SH

ielilor

GH SURGXF LH L FDOFXO DO SUH XOXL GH FRVW SUHFXP L GH FDUDFWHUXO SURGXF LHL

L JUDGXO GH FRPSOH[LWDWH DO DFHVWXLD
$QDOL]D FRVWXOXL SH SURGXV XUP UHWH DEDWHUHD DFHVWXLD ID

GH XQ

anumit criteriu (costul planificat, normat, sau din anul precedent),

FDWHJRULLOH GH FKHOWXLHOL DUWLFROH GH FDOFXOD LH HOHPHQWH SULPDUH SH VHDPD
F URUD V DX SURGXV PRGLILF UL SUHFXP L IDFWRULL FDUH DX GHWHUPLQDW DEDWHULOH

respective.

2 LPSRUWDQ

care pot fL
FRQWLQX
D ILDELOLW

GHRVHELW

LGHQWLILFDUHD UH]HUYHORU H[LVWHQWH

PRELOL]DWH vQ SURFHVXO GH H[HFX LH D SURGXVXOXL SHQWUX UHGXFHUHD

D FRVWXOXL L PHQ LQHULL VDX FKLDU vPEXQ W

LULL FDOLW

LL SURGXVXOXL

LL DFHVWXLD

2UJDQL]DUHD

PXQFLL

SDUFXUJHUHD XUP WRDUH

a)

R SUH]LQW

GH

DQDOL]

FRVWXULORU

SH

SURGXVH

LPSOLF

lor etape:

6WDELOLUHD

SURGXVHORU

FDUH

XUPHD]

IL

VXSXVH

DQDOL]HL

'H

UHJXO  VXQW FHUFHWDWH FX SULRULWDWH SURGXVHOH OD FDUH V DX GHS LW

FRVWXULOH

DQWHFDOFXODWH

VDX

produsele la care s-DX

QRUPDWH

RE LQXW

$FHDVWD

HFRQRPLL

QX

SHQWUX

H[FOXGH

JHQHUDOL]

H[SHULHQ D SR]LWLY 

b)

([SOLFDUHD PRGLILF ULL FRVWXOXL SH ILHFDUH SURGXV SULQ

SULVPD

categoriilor de cheltuieli (articole sau elemente), stabilindu-se

FRQWULEX LD

DEVROXW

PRGLILFDUHD WRWDO

c)

SURFHQWXDO

ILHF UHL

FDWHJRULL

OD

D FRVWXOXL SH SURGXV

AnalL]D HOHPHQWHORU GH FKHOWXLHOL SULQ SULVPD IDFWRULORU GLUHF L L

LQGLUHF L

GH

LQIOXHQ

$VWIHO

PRGLILFDUHD

FKHOWXLHOLORU

materiile prime, materialele directe (FKP VH H[SOLF

 ,QIOXHQ D FRQVXPXULORU VSHFLILFH FV

(cs1 cs 0 )p 0

2 ,QIOXHQ D SUH XOXL PDWHULDOHORU S

cs1 (p1 p )
0

SULQ

FX

Cheltuielile cu salariile directe sunt dependente de timpul de

FRQVXPDW SH XQLWDWH GH SURGXV W L salariul mediu pe unitate de
timp (sh).
Deci, FKU VH H[SOLF SULQ LQIOXHQ D

timpXOXL GH PXQF
Chs 0
(t 1 t 0 )sh 0 sau
Chs 0
Iw
unde:
t0
,Z
LQGLFHOH SURGXFWLYLW LL PXQFLL HVWH FDOFXODW SH ED]D UHOD LHL
t1

salariul mediu orar

Chs 0
t 1 (sh 1 sh 0 ) sau Chs1
Iw
Cheltuielile indirecte (chi), fiind reparWL]DWH SH ED] GH FKHL GH
reparti LH VH YRU DQDOL]D SULQ SULVPD PRGLILF ULL
PXQF

YROXPXOXL

SURGXF LHL

LQIOXHQ D

F UXLD

VH

GHWHUPLQ

SH

ED]D

UHOD LHL

Chi 0
Chi 0
Iq
q
unde: Iq = 1
q0

sumei absolute a cheltuielilor indirecte:

Chi 0
Chi1
Iq
1RW  Q FD]XO FkQG FRPSDUD LD VH IDFH FX FRVWXO QRUPDW vQ WRDWH

UHOD LLOH FRVWXO DQWHFDOFXODW VH YD vQORFXL FX QLYHOXO QRUPDW

,GHQWLILFDUHD XQRU QRL UH]HUYH GH UHGXFHUH D FRVWXULORU WUHEXLH I FXW

vQ OHJ WXU
ORU ID

FX SRQGHUHD GLIHULWHORU FDWHJRULL GH FKHOWXLHOL L GH GHSHQGHQ D

GH YROXPXO SURGXF LHL $VWIHO SHQWUX FKHOWXLHOLOH IL[H SH XQLWDWH GH

SURGXV GHFL YDULDELOH vQ VXP

QHFHVDU

R DQDOL]

ceea ce prLYHWH

DEVROXW  PDWHULL SULPH VDODULL GLUHFWH HVWH

WHKQLFR HFRQRPLF

D WXWXURU FDWHJRULLORU GH FRQVXPXUL Q

FKHOWXLHOLOH

LQGLUHFWH

FDUH

vQ

JHQHUDO

VXQW

YDULDELOH

SH

XQLWDWH GH SURGXV SRW IL PLFRUDWH SULQ RSWLPL]DUHD YROXPXOXL GH SURGXF LH

HYLGHQW

WUHEXLH

VH

LQ

VHDPD

FDSDFLWDWHD GH SURGXF LH L SRVLELOLW

GH

LOH GH

H[LVWHQ D

Q WHRULD L SUDFWLFD HFRQRPLF  SRDWH IL SXV

YDULD LHL

YROXPXOXL

GH

DFWLYLWDWH

JUDG

UHVXUVHORU

desfacere).

GH

IRORVLUH

PDWHULDOH

SUREOHPD LQIOXHQ HL
FDSDFLW

LL

DVXSUD

costului unitar.
3HQWUX

vQ HOHJH

DFHVW

PHFDQLVP

VH

DUH

vQ

YHGHUH

XUP WRDUHD

VLWXD LH

1. volumul

QRUPDO

D FDSDFLW

GH DFWLYLWDWH FDUH DVLJXU

R IRORVLUH UD LRQDO

LL GH SURGXF LH

 EXF L
2. cheltuieli fixe 30000 mii lei;
3. cheltuieli variabile
(20000 4000) = 80000 mii lei;
4. cheltuieli totale (2 + 3) = 110000 mii lei;
5. cost pe unitate lei (4 : 1) = 27500 lei.
6H SUHVXSXQH F  GDWRULW

UHGXFHULL FHUHULL VH PLFRUHD]

DFWLYLWDWH OD  EXF Q DFHVWH FRQGL LL FRVWXO SH EXFDW

20000 +

YROXPXO GH

YD IL

30000
= 28571 lei
3500

Q FRQVHFLQ

 HIHFWXO VF GHULL YROXPXOXL GH DFWLYLW

ate este 28571

27500 = 1071 lei

'DF

SUH XO GH YkQ]DUH HVWH HVWLPDW OD  OHL UH]XOWDWXO VFRQWDW

este:
a) vQ FD]XO DFWLYLW LL QRUPDOH
(50000 27500) 4000 = 90000 mii lei
b) vQ FD]XO VXEDFWLYLW LL
(50000 28571) 3500 = 75002 mii lei
c) efHFWXO VXEDFWLYLW LL E a) = -14998 mii lei

3.12 Analiza costului produselor comparabile

Produsele comparabile sunt acele produse care s-au fabricat n cadrul
XQLW

LL L vQ SHULRDGD DQWHULRDU

practica eFRQRPLF
HYROX LHL

XQRU

FHOHL SHQWUX FDUH VH IDFH DQDOL]D 7HRULD L

HYLGHQ LD]

IHQRPHQH

WRW

HFRQRPLFH

PDL
L

precedente. ntr-R DVHPHQHD VLWXD LH VH DIO

FRPSDUDELOH
VWDELOHDVF

SHQWUX

FDUH

VH

FRQVLGHU

SUHJQDQW

vQ

UDSRUW

FX

QHFHVLWDWHD

XUP ULULL

UHDOL] ULOH

SHULRDGHL

L FKHOWXLHOLOH DIHUHQWH SURGXF LHL

F

HVWH

DEVROXW

QHFHVDU

VH

XQ FRVW DQWHFDOFXODW SODQLILFDW SURJUDPDW FDUH YD IL VLPEROL]DW

n continuare cu Cp), ntruct:

WUHEXLH

GHVI RDU

ILH

OXDWH

vQ

DFWLYLWDWHD

FRQVLGHUDUH
HYROX LD

salariilor, sistemul de impozitare);

QRLOH

SUH XULORU

FRQGL LL
GH

vQ

FDUH

FXPS UDUH

VH

HVWH

QHFHVDU

VH

VWDELOHDVF

ED]D

GH

FRQWURO

FKHOWXLHOLORU

pe centre generatoare;

VH

LPSXQH

XQ

SURJUDPHOH

FRQWURO

VWDELOLWH

DVXSUD

SHQWUX

PRGXOXL

SHULRDGD

vQ
GH

FDUH

VH

UHDOL]HD]

JHVWLXQH

OXDW

vQ

considerare.
3HQWUX

HYROX LD

FRVWXULORU

IRORVL PRGLILFDUHD DEVROXW

DIHUHQWH

SURGXVHORU

0 L SURFHQWXDO

FRPSDUDELOH

VH

YD

 D FRVWXOXL FDUH DUH XQ

QLYHO SUHY ]XW S L XQXO UHDOL]DW 

Astfel, pentru un produs:

Mp = cp c0
n care:
c0
=
precedente
M1 = c1 c0
c p c0
cp

Mp% =
100 sau
1100

c
c0
0

c c0
M1 % = 1
100 sau 1 1100
c

c0
0

'DF UH]XOWDWXO DUH VHPQXO PLQXV - vQVHDPQ

DEVROXW

VDX SURFHQWXDO  ID

VHPQLILF

costul

perioadei

R UHGXFHUH D FRVWXOXL

R PDMRUDUH

Pe baza daWHORU

GLQ WDEHOXO  UH]XOW

SHQWUX H[HPSOLILFDUH SUH]LQW

Astfel:
produsul A: s-D

GH DQXO SUHFHGHQW LDU GDF

F

HVWH VHPQXO 

FHOH WUHL SURGXVH IRORVLWH

VLWXD LL GLIHULWH

SUHY ]XW R PDMRUDUH D FRVWXOXL ID

GH DQXO SUHFHGHQW L V

-a

UHDOL]DW R FUHWHUH PDL PDUH

produsul B: s-D SUHY

produsul C: s-D SUHY

]XW R UHGXFHUH UHDOL]DW

vQWU R SURSRU LH PDL PDUH

]XW R UHGXFHUH L V D UHDOL]DW R FUHWHUH D FRVWXOXL

Q WRDWH FD]XULOH PRGLILFDUHD DEVROXW

GH DFHHD SUHY ]XW

HVWH GHWHUPLQDW

L SURFHQWXDO  UHDOL]DW

GH YDULD LD FRVWXOXL HIHFWLY ID

SUHY ]XW

PRGLILFDUHD DEVROXW

F1

PRGLILFDUHD SURFHQWXDO

cp ;
c1 c p
c0

100 .

Astfel, pentru produsul A:

PRGLILFDUHD DEVROXW



1250 = +1900 lei

c1 cp = 71900 70000 = +1900 lei

ID

GH FHO

PRGLILFDUHD SURFHQWXDO

c1 c p 71900 70000
=
100 = +2,76%
c0
68750
Tabelul 3.19

# 5Vv(# eg f V5
kighj ih ed

Modificare

 5#

Cost pe unitate de produs (lei

(%)

(lei)

ki(V#l(Tj
h g h

Pr.

(c0)

Vdi(giVj
ki
h

n m(i(Tj

1
2
3

(cp)

realizat
(c1)

68750
113000
789488

70000
105860
780000

'LQ
PRGLILF ULL

(cp c0)

realizat
(c1-c0)

cp

c 1100
0

c1

c 1100

+1250
-7140
-9488

+3150
-9250
+12512

+1,82
-6,32
-1,20

+4,58
-8,19
+1,58

71900
103750
802000

A
B
C

SXQFW

realizat

n mi(Tj

Produs

#(s (q #o
ut r p

Nr.
crt
.

GH

YHGHUH

SUDFWLF

FRVWXULORU

SHQWUX

vQWUHDJD

HVWH

QHFHVDU

SURGXF LH

ILH

VWD

FRPSDUDELO 

bilit efectul
SHQWUX

IL

corelat cu venitul aferent acesteia, att n faza de elaborare a bugetului de

YHQLWXUL L FKHOWXLHOL FkW L FHD GH H[HFX LH

Deci:

M p = q p cp c0
M1 = q1 (c1 c 0 )

3H

q pc p

1100
Mp % =

q pc0

q1c1

M1 % =
1100

q 1c 0

ED]D

FRVWXULORU

SH

SURGXVH

GLQ

WDEHOXO



SUHY ]XWH L UHDOL]DWH VH VWDELOHVF XUP WRDUHOH GDWH VLQWHWLFH

 3URGXF LD FRPSDUDELO

SUHY ]XW  H[SULPDW

vQ

cost din anul precedent:

qpc0 = 25500 mil. lei
FRVW SUHY ]XW

qpcp = 25810 mil. lei

 3URGXF LD FRPSDUDELO  UHDOL]DW

costul din anul precedent:

q1c0 = 26430 mil. lei

FRVW SUHY ]XW

q1cp = 26034 mil. lei

H[SULPDW

vQ

FDQWLW

LL

cost realizat:
q1c1 = 26266 mil. lei

'LQ GDWHOH PHQ LRQDWH UH]XOW 

PRGLILFDUHD DEVROXW

SUHY ]XW

PRGLILFDUHD SURFHQWXDO

Mp = 25810 25500 = +310 mil. lei

SUHY ]XW

25810
Mp % =
1100 = +1,22%
25500

PRGLILFDUHD DEVROXW

UHDOL]DW

M1 = 26266 26430 = -164 mil. lei

modificarea procHQWXDO UHDOL]DW

26266
Mp% =
1100 = 0,62%
26430
Q VLWXD LD GDW  V-D SUHY ]XW R FUHWHUH D FRVWXULORU FX  PLO OHL
UHVSHFWLY 
 L V-a realizat o reducere de 164 mil. lei, respectiv

 $FHVWH UH]XOWDWH WUHEXLH V ILH DQDOL]DWH SULQ SULVPD IDFWorilor care le
GHWHUPLQ  IDSW FH LPSOLF
$QDOL]D

PRGLILF

comparabile )LLQG R P

R WUDWDUH VHSDUDW
ULL

SURFHQWXDOH

D ORU
PHGLL

FRVWXOXL

ULPH PHGLH PRGLILFDUHD SURFHQWXDO

SURGXVHORU

HVWH HIHFWXO D

GRL IDFWRUL UHVSHFWLY VWUXFWXUD SURGXF LHL J L PRGLILFDUHD SURFHQWXDO

SH

fiecare produs (m%).

Deci:
Mp % =

gp mp % ,

M1 % =

iar

100
g1 m1 %
100

3HQWUX D SXWHD VWDELOL LQIOXHQ D VWUXFWXULL HVWH QHFHVDU

PRGLILF ULL

SURFHQWXDOH

moGLILFDUHD SURFHQWXDO

M %=
FHHD FH HFKLYDOHD]

vQ

IXQF LH

GH

VWUXFWXUD

HIHFWLY

SH SURGXVH SUHY ]XW  UHVSHFWLY

g1 mp %
100

FX

q1c p

26034

1100 =
1100 = 1,50%
q c

26430
1 0

UHFDOFXODUHD
SURGXF LHL

Q FRQVHFLQ

M % = 0,62 (+ 1,22 ) = 1,84%

din care:
LQIOXHQ D VWUXFWXULL

1,50 1,22 = -2,72%

se 0,62 (-1,50) = +0,88%

LQIOXHQ D FRVWXULORU SH SURGX

'DF
FRVWXULORU

vQ
FD

DQVDPEOXO
HIHFW

DO

SURGXVHORU

VWUXFWXULL

FRPSDUDELOH

SURGXF LHL

OD

UH]XOW

QLYHOXO

UHGXFHUH

SURGXVHORU

D
VH

R FUHWHUH D FRVWXULORU 'HFL vQ VSDWHOH XQXL UH]XOWDW DSDUHQW

vQUHJLVWUHD]

pozitiv, se ascund rezultate negative.

$QDOL]D

comparabile.
FD

IDFWRU

LQIOXHQ DW

PRGLILF

ULL

DEVROXWH

FRVWXULORU

DIHUHQWH

SURGXF LHL

Q FDGUXO PRGLILF ULL DEVROXWH LQWHUYLQH L YROXPXO SURGXF LHL

GLPHQVLRQDO

&D

DWDUH

PRGLILFDUHD

DEVROXW

FRVWXULORU

HVWH

GH YROXPXO SURGXF LHL VWUXFWXUD DFHVWHLD L FRVWXO SH SURGXVH Q

exemplul dat:
M = -164 (+310) = -474 mil. lei

din care:

IQIOXHQ D YROXPXOXL SURGXF LHL

q1c0 ( q pcp q pc0 ) ( q pcp q pc0 )=

q pc0
=

26430
(25810 25500) (25810 25500) = +321 (+310) = +11 mil. lei
25500

,QIOXHQ D VWUXFWXULL

q
( q1c p q1c 0 ) q 1c 0 ( q p c p q p c 0 )=
c
p 0
(26034 26430) (+ 321) = 717 mil. lei

,QIOXHQ D FRVWXOXL

q1c1 q1c p = 26266 26034 = +232 mil. lei

FDUH

Q FD]XO PRGLILF ULL DEVROXWH VWUXFWXUD SURGXF LHL FRQVWLWXLH IDFWRUXO

FRQGXV

vQ

ILQDO

OD

UHDOL]DUHD

HFRQRPLLORU

FRPSDUDELOH Q DFWLYLWDWHD SUDFWLF  WUHEXLH V

s-a modificat structuUD

vQ

FRUHOD LH

LGHQWLILF

FDUH

GLUHFW

DIHUHQWH

SURGXF LHL

VH LGHQWLILFH FRQGL LLOH vQ FDUH

FX

VDWLVIDFHUHD

REOLJD LLORU

DVXPDWH SULQ FRQWUDFWH L UHDOL]DUHD YHQLWXULORU SUHY ]XWH 'H DVHPHQHD VH

SURGXVHOH

OD

DX

FUHVFXW

FRVWXULOH

FDX]HOH

GHWHUPLQDW vQ YHGHUHD IRUPXO ULL P VXULORU FDUH VH LPSXQ

SHULRDGD XUP WRDUH

FDUH OH-au
a fi luate pentru

n exemplul dat, s-D DYXW vQ YHGHUH XUP

M1 % M p % =

M1 M p =

$FHDVWD

vQVHDPQ

FRVWXOXL

ID

GH

WRDUHD VLWXD LH

V D

SUHY ]XW

DQXO

UHGXFHUH DWkW vQ VXP

SUHFHGHQW

FUHWHUH

-a realizat o
 FkW L procentual.

DEVROXW

3RW IL vQWkOQLWH L DOWH FD]XUL FXP DU IL

M1 % M p % = +
M1 M p = +

5H]XOW

V D

SUHY ]XW

FUHWHUH

FRVWXULORU

DIHUHQWH SURGXF LHL FRPSDUDELO  FDUH V

-a realizat

ntr-R SURSRU LH PDL PDUH

M1 % M p % = +

Prevederile sunt similare cazului anterior, cu

GHRVHELUHD F

M1 M p =

vQ P ULPL DEVROXWH FUHWHUHD D

IRVW PDL PLF  GDWRULW

QHUHDOL] ULL SURGXF LHL

SUHY ]XWH

S-D SUHY ]XW

realizat ntr-R

M1 % M p % =
M1 M p = +

S-D

GH

FRVWXUL

SURSRU LH PDL PLF

GDU

-a

vQ FRQGL LLOH

SUHY ]XW

UHGXFHUH

FRVWXULORU

-a

UHDOL]DW vQ SURSRU LH PDL PDUH

M1 M p =

FUHWHUH

GHS LULL SURGXF LHL SUHY ]XWH

M1 % M p % =

M1 % M p % =

Se

M1 % M p % = +

prevede

UHDOL]HD]
VXP

reducerea

QXPDL

DEVROXW

costului, care

SURFHQWXDO

VH

GDWRUHD]

se

1HUHDOL]DUHD
RE LQHULL

vQ

XQHL

SURGXF LL VXE FHD SUHY ]XW 

M1 % M p % = +
M1 M p =

6LPLODU VLWXD LHL SUHFHGHQWH vQ FHHD FH SULYHWH

prevederile, dar s-D

SURGXF LHL

FDUH

QHIDYRUDELO

n ca]XO

vQWUHSULQGHULORU

PHWRGRORJLH FX GHRVHELUHD F
GLQ SHULRDGD SUHFHGHQW

GH

UHDOL]DW
D

FUHWHUH

DQLKLODW

LQIOXHQ D

D VWUXFWXULL L FRVWXOXL
FRQVWUXF LL

VH

XWLOL]HD]

DFHHDL

VH DUH vQ YHGHUH vQWUHDJD SURGXF LH LDU FRVWXO

HVWH vQORFXLW FX

costul de deviz.

3.13 Analiza costului marginal

Q XQLW

LOH GLQ VHFWRUXO SULPDU VH UHFRPDQG

IRORVLUHD vQ DQDOL]

L D

costurilor marginale, care pot servi ca orientare n decizii privind folosirea

FDSDFLW

LL GH SURGXF LH L vQ FHOHODOWH XQLW

&RVWXO

PDUJLQDO

GXS

FXP

VH

L

WLH

HVWH

FRVWXO

XQHL

XQLW

DGL LRQDOH GH SURGX

s.
Nivelul costului marginal comparat cu cel mediu (deci al ntregului
volum al produsului) permite aprecierea punctului n care ntreprinderea (cu
OXDUHD vQ FRQVLGHUDUH D vQF UF ULL FDSDFLW

costurile cele mai mici.

Un DVHPHQHD JUDG

LL vL GHVI RDU

GH vQF UFDUH D FDSDFLW

LL LQGLF

PDL PDUH D FRVWXOXL PDUJLQDO GH FRVWXO PHGLX L HFKLYDOHD]

DFWLYLWDWHD FX
DSURSLHUHD FHD
FX HFKLOLEUXO

relativ.
Acceptarea zonei de degresie (cnd ambele costuri scad) sau zonei
GH

SURJUHVLH

FkQG

FRVWXO

PDUJLQDO

GHS HWH

FRVWXO

PHGLX

VH

MXVWLILF

numai pe baza altor variabile ale deciziei.

3HQWUX H[HPSOLILFDUH VH IRORVHVF XUP WRDUHOH GDWH

Tabelul 3.20
Nr.
crt.
1
2

Indicatori
3URGXF LD WRWDO
&KHOWXLHOL

P0

GH

SURGXF LH

PLO

150000
75000

200000
103000

500
540
40
6000

vQ WRQH

WRWDOH

P1

515
540
25
5000

lei)
3
4
5
6

&RVW PHGLX PLL OHLWRQ 

3UH

GH YkQ]DUH PLL OHL

Profitul unitar (mii lei)

Profitul total (mil. lei)
5H]XOW

F  ID

GH ED]D GH FRPSDUD LH V D vQUHJLVWUDW R GHS LUH D

costului mediu cu 15 mii lHL (YLGHQW H[SOLFD LD R FRQVWLWXLH VSRULUHD

cheltuielilor totale ntr-XQ ULWP PDL PDUH GHFkW FHO DO YROXPXOXL SURGXF LHL
Costul marginal (CM), potrivit literaturii de specialitate3 VH RE LQH
SH ED]D UHOD LHL

Ch1 Ch 0 103000 75000

=
= 560 mii lei WRQ
q1 q 0
200000 150000

Comparativ
3

FX

FRVWXO

PHGLX

SUHY ]XW

FRVWXO

PDUJLQDO

*K &kUVWHD & 2SUHD &DOFXOD LD FRVWXULORU ('3 %XFXUHWL SDJ 

HVWH

PDL

PDUH IDSW FH D GHWHUPLQDW R FUHWHUH D FRVWXOXL

mediu efectiv cu 15 mii

, ceea ce s-a reflectat n mod negativ att asupra profitului unitar ct
L WRWDO GHFL vQ FD]XO GH ID
RELHFWLYXO SULRULWDr l-D FRQVWLWXLW RE LQHUHD XQHL
OHLWRQ

SURGXF LL VXSOLPHQWDUH
$FWLYLWDWHD

SUDFWLF

GH

DQDOL]

L

LPSOLFLW

GH

FRQGXFHUH

FHUH

VROX LRQDUHD XQRU SUREOHPH FXP DU IL GH H[HPSOX GHWHUPLQDUHD QLYHOXOXL

PD[LP vQ FDUH SOXVXO GH SURGXF LH QHFHVLW
SHQWUX FD XQLWDWHD V
]HUR DGLF

FKHOWXLHOL VXSOLPH

ntare sporite

UHDOL]H]H SURILWXO SUHY ]XW VDX SURILWXO V

ILH HJDO FX

SXQFWXO GH HFKLOLEUX

3HQWUX FD 3

 FRVWXO PDUJLQDO PD[LP HVWH GDW GH UHOD LD

q1p1 q 0c 0 200000 540 150000 500

=
= 660 mii lei WRQ
q1 q 0
200000 150000
'HFL SkQ
UHQWDELO

GDF

OD DFHVW QLYHO DO FRVWXOXL

UHDOL]HD]

5HDOL]DUHD

marginal, ntreprinderea este

SURGXF LD GH  WRQH

LQWHJUDO

SURILWXOXL

SUHY ]XW

SUHVXSXQH

RE LQHUHD

SURGXF LHL VXSOLPHQWDUH FX XQ FRVW LQIHULRU FHOXL VWDELOLW DQWHULRU FRVW FDUH VH
GHWHUPLQ

SH ED]D UHOD LHL

q1p1 (q 0 c 0 + P0 ) 200000 540 (

150000 500 + 6000)
= 540 mii lei WRQ
=
q1 q 0
200000 150000

5H]XOW
WUHEXLH V

F 

SHQWUX D

VH

UHDOL]D

SURILWXO

SUHY ]XW

FRVWXO

PDUJLQDO

ILH LQIHULRU SUH XOXL GH YkQ]DUH

&XQRDWHUHD DFHVWRU HOHPHQWH SUH]LQW

n determinarea unor bugete de cheltuieli

XUP ULUHD

PRGXOXL

SURGXF LH

DVWIHO

GH

vQFkW

vQFDGUDUH
SURGXF LD

vQ

R GHRVHELW

XWLOLWDWH SUDFWLF

SH ORFXUL GH SURGXF LH SUHFXP L

QLYHOXO

VXSOLPHQWDU

PD[LP
RE LQXW

DO
V

FKHOWXLHOLORU
QX

FRQGXF

GH
OD

intrarea n zona pierderilor.

$F LXQHD GH UHGXFHUH D FRVWXULORU WUHEXLH vQFDGUDW
PHWRGRORJLH SHQWUX D L VH DVLJXUD ULJRDUHD WLLQ LILF

economico-VRFLDO

LPSXV

vQWU R DQXPLW

GH VHPQLILFD LD

D HFRQRPLVLULL WXWXURU FDWHJRULLORU GH UHVXUVH

Q DFHVW VHQV SRW H[LVWD XUP WRDUHOH PRGDOLW

 Q FRQGL LLOH XQXL SUH
R UHQWDELOLWDWH SURSXV

GH Yk

L GH DF LXQH

nzare dat VH VWDELOHWH GUHSW RELHFWLY

D IL UHDOL]DW  IDSW FH LPSXQH GHWHUPLQDUHD QRXOXL

nivel al costului pe produs.

3HQWUX DFHDVWD VH SRUQHWH GH OD UHOD LD

px
= R,
x

unde:
p = SUH XO GH YkQ]DUH
R = rata renWDELOLW LL
x = nivelul costului pe produs care va fi notat n continuare cu c.
p
3H ED]D UHOD LHL SUHFHGHQWH x =
1+ R
'DF  GH H[HPSOX XQ SURGXV DUH XUP WRDUHD VLWXD LH

- SUH XO GH YkQ]DUH
- FRVW GH SURGXF LH
- beneficiu
- rentabilitate

 OHLWRQ

400000 leLWRQ
40000 lei
10%

3HQWUX FD QLYHOXO UHQWDELOLW

VH HVWLPHD]
)D

OD

LL V

ILH PLQLP 

 FRVWXO SURGXVXOXL

440000
392857
.
1 + 0,12

GH FRVWXO H[LVWHQW VH SRDWH VWDELOL L LQGLFHOH FRVWXOXL IRORVLQG

UHOD LD

P
P
440000
Ic = 1 + R 100 =
1000 =
= 0,9821
(1 + R )c 0
(1 + 0,12)400000
c0
FHHD FH vQVHDPQ R UHGXFHUH GH 
  'HFL SHQWUX D RE LQH R
rentabilitate de 12% se impune o reducere a costului cu 1,79%.
Q
DVHPHQHD

FRQWLQXDUH
UHGXFHUH

WUHEXLH
L

DLFL

SUHFL]DWH
SRW

IL

F LOH

PDL

SULQ

PXOWH

FDUH

VH

VROX LL

SRDWH
FD

GH

UHDOL]D

H[HPSOX

GHWHUPLQDUHD FRWHL GH UHGXFHUH FDUH VH SRDWH RE LQH SH VHDPD FKHOWXLHOLORU

FRQYHQ LRQDOH FRQVWDQWH SULQ PDMRUDUHD SURGXF LHL GDF

GLVSRQLELO  IRORVLQGX VH UHOD LD

H[LVW

FDSDFLWDWHD

gf 0
gf 0 .
Ig

unde:
gf0 = ponderea cheltuielilor fixe n costul produsului din perioada de
UHIHULQ

Iq =

LQGLFHOH SURGXF LHL IL]LFH SRVLELO GH UHDOL]DW

$VWIHO GDF

JI0

= 30%, iar Iq = 10%, atunci reducerea costului pe

30

seama cheltuielilor fixe va fi de 1,43%

30 FHHD FH vQVHDPQ F
1,05

UHVWXO


FKHOWXLHOLORU

FHOH

YDULDELOH

WUHEXLH

 IDSW FH LPSXQH DQDOL]D GHWDOLDW

DVLJXUH

GLIHUHQ D

SkQ

OD

D ILHF UHL FDWHJRULL GH FKHOWXLHOL

DFHDVW

HWDS 
GLUHFW

manoper

WUHEXLH

VH

DQDOL]H]H

FRQVXPXULOH

GH

PDWHULDOH

vQ YHGHUHD J VLULL VROX LLORU QHFHVDUH SHQWUX vQFDGUDUHD vQ

UHGXFHUHD VWDELOLW 
Q

LSRWH]D

F 

UHVWULF LLOH

PHQ LRQDWH

DQWHULRU

SURGXF LHL IL]LFH DWXQFL vQWUHDJD UHGXFHUH WUHEXLH V

QX

SHUPLW

ILH DVLJXUDW

VSRULUHD

QXPDL SH

seama cheltuielilRU YDULDELOH &RQVLGHU P F GH UHJXO DFFHQWXO SULQFLSDO

trebuie pus tocmai pe aceste cheltuieli care la foarte multe produse din toate
UDPXULOH GH LQ R SRQGHUH LPSRUWDQW 
 1X VH VWDELOHWH XQ DQXPH QLYHO DO UHQWDELOLW

LL FL vQ FRQGL LLOH

SUH XOXL GH YkQ]DUH VH XUP UHWH UHDOL]DUHD XQHL UHGXFHUL SRVLELOH D FRVWXOXL
$FHDVW

PRGDOLWDWH SUHVXSXQH DQDOL]D ILHF UHL FDWHJRULL GH FKHOWXLHOL

stabilindu-se rezervele interne care pot fi mobilizate. Astfel, n cazul

FKHOWXLHOLORU
HYROX LD

FX

PDWHULDOHOH

FRQVXPXULORU

GLUHFWH

VSHFLILFH

PDWHULLOH

WHKQRORJLHL

SULPH

GH

WUHEXLH

IDEULFD LH

DQDOL]DW

HYHQWXDOD

posibilitate de nlocuire a unor materiale.

3H DFHDVW

ED]

VH GHWHUPLQ

VXPD HFRQRPLLORU OD PDWHULDOHOH GLUHFWH

L PDWHULLOH SULPH (P SH XQLWDWH GH SURGXV $SOLFkQG UHOD LD

VH RE LQH FRQWULEX LD DFHVWRU FKHOWXLHOL OD UHGXFHUHD FRVWXOXL

Em gmo1 4
,
100

3HQWUX FKHOWXLHOLOH FX VDODULLOH GLUHFWH VH DUH vQ YHGHUH FRUHOD LD GLQWUH

SURGXFWLYLWDWHD PXQFLL H[SULPDW

SULQ WLPSXO FRQVXPDW L VDODUL

ul mediu

orar.
5HGXFHUHD FRVWXOXL FD HIHFW DO UHVSHFW ULL FRUHOD LHL VH GHWHUPLQ
DMXWRUXO UHOD LHL

Is

1gr0 ,

Iw

unde:
Ir = indicele salariilor directe;
Iw = LQGLFHOH SURGXFWLYLW LL PXQFLL
gr0 = ponderea cheltuielilor cu salariile directe n costul produsului.
'DF

SUHFHGHQW

H[LVW

VH

FX

SRVLELOLW

GHWHUPLQ

GH

VSRULUH

FRQWULEX LD

SURGXF LHL

FKHOWXLHOLORU

FD

LQGLUHFWH

OD

vQ

FD]XO

UHGXFHUHD

costului.
3ULQ

vQVXPDUHD

UH]XOWDWHORU

VH

RE LQH

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produsului respectLY L QRXO QLYHO GH UHQWDELOLWDWH

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5{ 5# 5| 7~ 3~  #A~ ~  (~ (w5v w #A ~ (~ 3w4( { ~ #(A(~ (##yv
} z { }
~ z
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-organizatorice

VH

fiHF

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OD

UXL SURGXV LDU SULQ FXPXODUH SHQWUX vQWUHDJD SURGXF LH PDUI

0 VXUD

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VH

YD

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PDWHULDOL]D

LL SURGXF LHL L GH FRQFRUGDQ D FX FHUHUHD SHQWUX

produsele respective.
Q

ED]D

UHOD LLORU

SUREOHPH FDUH YL]HD]

QLYHOXO UDWHL UHQWDELOLW

SUH]HQWDWH

LL $VWIHO GDF

FX XQ DQXPLW SURFHQW GDWRULW

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VH

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IL

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U VSXQVXUL

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VH DGPLWH R FXQRDWHUH D FRVWXULORU

XQRU IDFWRUL LQGHSHQGHQ L GH vQWUHSULQGHUH

UHQWDELOLW

LL

FDUH

WUHEXLH

ILH

SUH XO

GH

vnzare ?
Q DFHVW VFRS VH IRORVHWH UHOD LD

a) p = c0 (1 + R)

sau

b) p = c0 (1 + R) Ic.

6H DGPLWH R FUHWHUH D FRVWXOXL FX 

UHQWDELOLW
UH]XOW

LL GH 

 3HQWUX D VH PHQ LQH

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UDWD

ILH GH  OHL DD FXP

GLQ FDOFXOXO

c = 400000 1,05 = 420000 lei

p = 420000 (1 + 0,10) = 462000 lei
sau
p = 400000 (1 + 0,10) 1,05 = 462000 lei
Q

IXQF LH

GH

UHDOL]DUHD QRXOXL SUH 

HYROX LD

UDSRUWXOXL

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$SOLFD LL L vQWUHE

1.

VH

VH UHDOL]H]H DQDOL]D IDFWRULDO

VWDELOHDVF

HIHFWHOH

economico-finanFLDUL 6

DVXSUD

UL

D &KHOWXLHOLORU OD  OHL &$

PRGLILF ULL

VH LQWHUSUHWH]H UH]XOWDWHOH

SULQFLSDOLORU

LQGLFDWRUL

- mil lei Indicatori

Simbol
qp
qc
Pr
AE
MF
Kp
N
C

Cifra de afaceri
Cheltuieli aferente cifrei de afaceri
Profit aferent cifrei de afaceri
Active de exploatare
Active fixe
Capital propriu
1XP U GH VDODULD L SHUVRDQH
&KHOWXLHOL OD  OHL FLIU

(lei)

T #T

costurilor.

GH DIDFHUL

Ip = 121%, Ic = 117% unde Ip

P0
10800
8600
2200
15500
8900
16000
220
796,3

 T 3V 5 

Nr.
crt.
1
2
3
4
5
6
7
8

P1
12700
9900
2800
17400
9200
16500
215
779,5
c

este indicele

2. 6 VH LQWHUSUHWH]H FD]XO
ICA = 110%
n
CA = cifra de afaceri
care,
ICh = 108%
Ch = cheltuieli totale aferente cifrei de
afaceri
Chv = cheltuieli variabile aferente cifrei
IC h v = 109%
de afaceri
3.

VH

GHWHUPLQH

LQIOXHQ D

VWUXFWXULL

&KHOWXLHOLORU YDULDELOH OD  OHL FLIU

FD]XO LQIOXHQ HL FX VHPQXO

SURGXF LHL

GH DIDFHUL L V

YkQGXWH

DVXSUD

VH LQWHUSUHWH]H

4. 6 VH LQWHUSUHWH]H FD]XO
ICA = 108%
unde
ICF = 102%
Iq = 107%

CF = suma cheltuielilor fixe

q = YROXPXO SURGXF LHL YkQGXWH

5. Ce este risFXO GH H[SORDWDUH RSHUD LRQDO?

6. $QDOL]D IDFWRULDO
de afaceri (Ca).

D &KHOWXLHOLORU FX DPRUWL]DUHD OD  OHL FLIU

- mil lei 1
2
3
4
5
6

Indicatori

Cifra de afaceri
Suma cheltuielilor cu amortizarea
Valoarea medie a mijloacelor fixe

y V 5 q(y 553T D

V V  #53y V V5 4

 #q4 4

Nr.
crt.

categorii de active fixe (%)

Cheltuieli cu amortizarea la 1000 lei CA (lei)

Simbol

P0

P1

CA
A
MF
ca

10500
420
4200
10
-

11400
399
3562,5
11,2

carec
Ca

10,75
40

35

7. 6 VH LQWHUSUHWH]H FD]XO
ICA = 112%
unde
W a SURGXFWLYLWDWHD DQXDO
I Wa = 109%
Sa = salariul mediu anual
I Sa = 107%
8.

$QDOL]D IDFWRULDO

,QWHUSUHWDUH HFRQRPLF 

D PXQFLL

D &KHOWXLHOLORU FX GREkQ]LOH OD  OHL &$

- mil lei Nr.

crt.
1
2
3
4
5
6
7

Indicatori

Simbol

Cifra de afaceri
Active circulante

9LWH]D GH URWD LH D DFWLYHORU FLUFXODQWH ]LOH

Valoarea creditului mprumutat

Ponderea creditelor n total active circulante
(%)
Procentul (rata) mediu al dobnzii (%)
Cheltuieli cu dobnzile

P1

CA
AC
Dz
Ki
K

40500
1687,5
15
506,25
30

44000
1711,11
14
581,78
34

d
Sd

40
202,5

37,5
218,17

T = 360 zile

9. 6 VH LQWHUSUHWH]H FD]XO
ICA = 108%
n care
I Ch v = 109%
ICh = 107%
I Ch d = 101%
IFs = 109%
IWa = 105%
10.

P0

$QDOL]D

PRGLILFDUH DEVROXW

FRVWXULORU

Ch = suma cheltuielilor totale

Chd = suma cheltuielilor cu dobnzile
Chv = suma cheltuielilor variabile
Fs = fondul de salarii
:D

SURGXFWLYLWDWHD PHGLH DQXDO

CA = cifra de afaceri

DIHUHQWH

SURGXF LHL

PDUI

L SURFHQWXDO  ,QWHUSUHWDUH HFRQRPLF 

FRPSDUDELO

mil lei
Nr.
crt.
1

Indicatori
3URGXF LD

PDUI

FRPSDUDELO

costurile perioadei curente

PDUI

FRPSDUDELO

Simbol

Programat

Realizat

HYDOXDW

vQ

qc

7500

8200

HYDOXDW

vQ

qc0

7600

8450

q1cp

8380

3URGXF LD

costurile perioadei precedente

Volumul efectiv DO SURGXF LHL

PDUI

FRPSDUDELOH H[SULPDWH vQ FRVWXUL SUHY ]XWH

4
A1$/,=$ 5(17$%,/,7
 $ERUG

UL FRQFHSWXDOH SULYLQG UHQWDELOLWDWHD vQWUHSULQGHULL

5HQWDELOLWDWHD SRDWH IL GHILQLW

FD ILLQG FDSDFLWDWHD XQHL vQWUHSULQGHUL

GH D RE LQH SURILW SULQ XWLOL]DUHD IDFWRULORU GH SURGXF LH L D FDSLWDOXULORU

inGLIHUHQW GH SURYHQLHQ D DFHVWRUD

Rentabilitatea este una din formele cele mai sintetice de exprimare a
HILFLHQ HL vQWUHJLL DFWLYLW L HFRQRPLFR-financiare a ntreprinderii, respectiv a
WXWXURU PLMORDFHORU GH SURGXF LH XWLOL]DWH L D IRU HL GH PXQF  GLQ toate
VWDGLLOH FLUFXLWXOXL HFRQRPLF DSURYL]LRQDUH SURGXF LH L YkQ]DUH
(ILFLHQ D HFRQRPLF
GHFkW

UHQWDELOLWDWHD

HILFLHQ D

HFRQRPLF

FDUDFWHUL]HD]

HVWH R FDWHJRULH HFRQRPLF

DFHVW

VHQV

PHQ LRQ P

UHSUH]LQW

FHD

PDL

PDL FXSULQ] WRDUH

XUP WRDUHD

JHQHUDO

DILUPD LH

FDWHJRULH

FDUH

UH]XOWDWHOH FH GHFXUJ GLQ GLIHULWH YDULDQWH SUHFRQL]DWH SHQWUX

utilizarea (consum productiv, consum individual, vnzare) sau economisirea

unor resurse (umane, materiale sau financiare) intrate sau neintrate n
circuitul economic)1.
3HQWUX

H[SULPDUHD

UHQWDELOLW

LL

VH

XWLOL]HD]

GRX

FDWHJRULL

LQGLFDWRUL SURILWXO L UDWHOH GH UHQWDELOLWDWH 0 ULPHD DEVROXW

D UHQWDELOLW

GH
LL

HVWH UHIOHFWDW

GH SURILW LDU JUDGXO vQ FDUH FDSLWDOXO VDX XWLOL]DUHD UHVXUVHORU

ntreprinderii

DGXF

HVWH

##SHR!I 1 &  ##FE

S 5QPPH G 
$)' &##" ! 
( % $   

UHIOHFWDW

GH

UDWD

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LL

LQGLFDWRU

DO

LL

aliza economico-

  1 8C## 1B A@% # & 1 8) 116 !$ 1 #2 !$ 4% % 1 $2$ 1 0

D $  7 %$ 9 " 7 " 5 & 3 %

SURILW

P ULPLL UHODWLYH D UHQWDELOLW

4.2 Analiza profitului

Profitul, sub diversele sale forme, poate fi analizat din punct de
roduse.

YHGHUH VWUXFWXUDO L IDFWRULDO SH WRWDO vQWUHSULQGHUH L SH S

 $QDOL]D VWUXFWXUDO

$QDOL]D

VWUXFWXUDO

D SURILWXOXL
SURILWXOXL

XUP UHWH

VWDELOLUHD

FRQWULEX LHL

GLIHULWHORU WLSXUL GH UH]XOWDWH OD PRGLILFDUHD WRWDO  SUHFXP L SXQHUHD vQ

HYLGHQ

D VFKLPE ULORU LQWHUYHQLWH SH HOHPHQWH FRPSRQHQWH

AQDOL]D

VWUXFWXUDO

D UH]XOWDWXOXL EUXW DO H[HUFL LXOXL SURILW EUXW VDX

SLHUGHUH VH SRDWH HIHFWXD SH ED]D JUXS ULL YHQLWXULORU L FKHOWXLHOLORU GXS

QDWXU

VDX D JUXS ULL FKHOWXLHOLORU GXS

ntreprinderii.
Analiza struFWXUDO

IXQF LD GHVWLQD LD ORU vQ FDGUXO

D UH]XOWDWXOXL EUXW DO H[HUFL LXOXL vQ IXQF LH GH

JUXSDUHD YHQLWXULORU L FKHOWXLHOLORU GXS

QDWXUD ORU VH SRDWH HIHFWXD GXS

XUP WRDUHD VFKHP 

Venituri din exploatare

#" % 0 ! B % Y X

&
%

cheltuielile variabile

11 &! 5! &2 &% VUT

% W


Cheltuieli variabile
de exploatare

Cheltuieli fixe de
exploatare

+
Venituri financiare
Rezultatul
brut al
exerci

Rezultatul financiar

Cheltuieli financiare

1  1

+
Venituri extraordinare
Rezultatul extraordinar

Cheltuieli extraordinare

)LJ  6FKHPD GH DQDOL]

VWUXFWXUDO

D UH]XOWDWXOXL EUXW

(modelul 1)

3HQWUX D VWDELOL FRQWULEX LD HOHPHQWHORU FRPSRQHQWH OD PRGLILFDUHD

rezultatului EUXW VH DSOLF

$FHVW
HYLGHQ

PRGHO

PHWRGD EDODQ LHU 

GH

DQDOL]

VWUXFWXUDO

L XUP WRUXO DVSHFW HVHQ LDO

UH]XOWDWXOXL

L DQXPH GDF

EUXW

SXQH

vQ

ID

GH

PDUMD EUXW

cheltuielile variabile permite acoperirea cheltuielilor fixe (n caz contrar

volumul GH DFWLYLWDWH HVWH LQIHULRU SUDJXOXL GH UHQWDELOLWDWH L D XQRU
UH]XOWDWH QHJDWLYH SLHUGHUL GLQ DFWLYLW
vQFkW SH WRWDO ILUP

Cea de-D

DFWLYLWDWHD V

GRXD PHWRG

H[HUFL LXOXL HVWH FXQRVFXW

LOH ILQDQFLDUH L H[WUDRUGLQDUH DVWIHO

ILH UHQWDELO 
GH DQDOL]

VWUXFWXUDO

D UH]XOWDWXO

FD PHWRGD FODVLILF ULL GXS

VDX D FRVWXOXL YkQ] ULORU

ui brut al

IXQF LD FKHOWXLHOLORU

,QIRUPD LLOH QHFHVDUH DQDOL]HL VH

LPSXQ D IL

grupate astfel:
1. Cifra de afaceri
 &RVWXO YkQ] ULORU
 5H]XOWDW RSHUD LRQDO PDUMD EUXW  

2)

4. Alte venituri din exploatare

 &RVWXUL GH GLVWULEX LH

6. Cheltuieli administrative
7. Alte cheltuieli de exploatare
 5H]XOWDWXO H[SORDW ULL -5-6-7)
9. Venituri financiare
10. Cheltuieli financiare
11. Rezultatul financiar (9 10)
12. Venituri extraordinare
13. Cheltuieli extraordinare
14. Rezultatul extraordinar (12 13)
 5H]XOWDWXO EUXW DO H[HUFL LXOXL 
$FHDVW

SUH]HQWDUH

RIHU

XWLOL]DWRUL GHFkW FODVLILFDUHD GXS

$OHJHUHD

PHWRGHL

GH

XQHRUL

LQIRUPD LL

PDL

UHOHYDQWH

SHQWUX

QDWXU 

DQDOL]

vQWUH

PHWRGD

FRVWXOXL

YkQ] ULORU

PHWRGD QDWXULL FKHOWXLHOLORU GHSLQGH DWkW GH IDFWRULL LVWRULFL L GH FHL DIHUHQ L

VHFWRUXOXL
ILHFDUH

HFRQRPLF

PHWRG

GH

UHVSHFWLY

vQWUHSULQGHUL

6WDQGDUGXO

,$6

FODVLILF UL

IXQF LH

FHD

SHUIRUPDQ

vQ

FkW

SUH]HQWDUH
GH

DUH

GH

QDWXUD

SDUDJUDIXO

FDUH

vQWUHSULQGHULL

'HRDUHFH

avantaje pentru diferite tipuri de

SUH]LQW


FHO

VROLFLW
PDL

ILGHO

RS LXQH

vQWUH

HOHPHQWHOH

GH

DOH vQWUHSULQGHULL 7RWXL GHRDUHFH LQIRUPD LLOH DVXSUD QDWXULL

cheltuielilor sunt utile la estimarea fluxurilor viitoare de numerar, se cere o

SUH]HQWDUH
YkQ] ULORU

VXSOLPHQWDU

DWXQFL

FkQG

HVWH

XWLOL]DW

PHWRGD

FRVWXOXL

4.2.2 Analiza soldurilor intermediare ale gestiunii (S.I.G.)

Prin solduri intermediare ale geVWLXQLL vQ HOHJHP SULQFLSDOLL
indicatori economico-ILQDQFLDUL VWDELOL L SH ED]D GDWHORU GLQ &RQWXO GH SURILW
L

3LHUGHUH

FX

DMXWRUXO

F URUD

VH

FDUDFWHUL]HD]

PRGXO

GH

IRORVLUH

UHVXUVHORU PDWHULDOH ILQDQFLDUH L XPDQH DOH ILUPHL

Un sold intermediar al

JHVWLXQLL HVWH GLIHUHQ D GLQWUH GRX

YDORUL

3ULQ VF GHUL VXFFHVLYH VH RE LQ LQGLFDWRUL GH FDUDFWHUL]DUH D UHQWDELOLW

LL L

JHVWLXQLL ILUPHL XQLL VH UHJ VHVF FD DWDUH vQ &RQWXO GH 3URILW L 3LHUGHUH LDU
DO LL VH GHWHUPLQ

vQ VLWXD LD 6,*

SoldurilH LQWHUPHGLDUH DOH JHVWLXQLL VH SUH]LQW

HVHQ

HVWH R DOW

vQWU

-un tablou care, n

PRGDOLWDWH GH SUH]HQWDUH D FRQWXOXL GH UH]XOWDWH

7DEORXO VROGXULORU LQWHUPHGLDUH DOH JHVWLXQLL VXE IRUP

SUH]LQW

Nr.
crt.
1.
2.

9kQ] UL GH P UIXUL FW 

&RVWXO P UIXULORU YkQGXWH FW 
0DUMD FRPHUFLDO

7.
8.

3URGXF LD H[HUFL LXOXL 

3URGXF LD YkQGXW

-2)

FW  OD 

9DULD LD SURGXF LHL VWRFDWH FW 

9HQLWXUL GLQ SURGXF LD GH LPRELOL] UL FW  

&RQVXPXULOH H[HUFL LXOXL SURYHQLQG GH OD WHU L JU  PDL

SX LQ FW  JU  JU 

12.
13.
14.
15.
16.

VH

Tabelul 4.1
ExeUFL LXO ILQDQFLDU
precedent curent

Indicatori

3.
4.
5.
6.

9.
10.
11.

GH OLVW

DVWIHO

9DORDUHD DG

XJDW

)
-8)



6XEYHQ LL GH H[SORDWDUH
&KHOWXLHOL

FX

LPSR]LWH

WD[H

Y UV PLQWH

DVLPLODWH

(gr. 63)
Cheltuieli cu personalul (gr. 64)
([FHGHQWXO GHILFLWXO EUXW DO H[SORDW

17.
18.
19.

ULL -11-12)
Alte venituri din exploatare inclusiv cele din provizioane
Alte cheltuieli de exploatare
Cheltuieli de exploatarH SULYLQG DPRUWL]DUHD L
provizioanele
5H]XOWDWXO H[SORDW ULL -15-16)
Venituri financiare
Cheltuieli financiare

20.

5H]XOWDWXO FXUHQW DO H[HUFL LXOXL 

-19)

Nr.
crt.
21.
22.

ExeUFL LXO ILQDQFLDU

precedent curent

Indicatori
Venituri extraordinare
Cheltuieli extraordinare

23.
24.
25.

Impozit pe profit

26.

5H]XOWDWXO H[HUFL LXOXL SURILW QHW VDX SLHUGHUH 

Re]XOWDWXO H[WUDRUGLQDU DO H[HUFL

LXOXL 

-22)

5H]XOWDWXO EUXW DO H[HUFL LXOXL 

-25)

Analiza soldurilor intermediare de gestiune, se poate realiza pe baza:

PRGLILF ULORU DEVROXWH

LQGLFLORU FX ED]

ULWPXULORU FX ED]

metodei ratelor;

IL[  vQ ODQ
IL[  vQ ODQ

PHWRGHL VXEVWLWX LLORU vQ ODQ

L PHGLL
L PHGLL

HWF

Referitor la indicatorii din tabloul soldurilor intermediare ale

gestiunii, care nu au fost pUH]HQWD L L DQDOL]D L DQWHULRU VH LPSXQ XQHOH
SUHFL] UL L DQXPH

0DUMD

FRPHUFLDO

0F

HVWH

XQ

LQGLFDWRU

XWLOL]DW

GH

F WUH

ntreprinderile care vnd bunurile n starea n care au fost

FXPS UDWH ILLQG VSHFLILF DFWLYLW
$QDOL]D IDFWRULDO

LL GH FRPHU 

D PDUMHL FRPHUFLDOH SRDWH IL HIHFWXDW

FX DMXWRUXO

XUP WRUXOXL PRGHO

DC
100
gici

C=
100
Mc =

n care:
D = UHSUH]LQW

FLIUD

GH

DIDFHUL

GLQ

YkQ] UL

GH

P UIXUL

VDX

YDORDUHD

GHVIDFHULORU GH P UIXUL

C = rata medie a marjei comerciale sau cota medie de adaos comercial;

gi = VWUXFWXUD YkQ] ULORU SH JUXSH GH P UIXUL VDX VHFWRDUH GH DFWLYLWDWH
ci = FRWD GH DGDRV FRPHUFLDO SH JUXSH GH P UIXUL VDX VHFWRDUH GH DFWLYLWDWH

6LVWHPXO GH IDFWRUL VH SUH]LQW

DVWI

el:

D
Mc
gi
C

ci
ULL (%( UHSUH]LQW

([FHGHQWXOGHILFLWXO EUXW DO H[SORDW

SRWHQ LDO GH GLVSRQLELOLW

IOX[XO

L GHJDMDW GH FLFOXO GH H[SORDWDUH L VH GHWHUPLQ

deducnd cheltuielile monetare din exploatare din veniturile monetare

DIHUHQWH DFHVWHL DFWLYLW

L

9HQLWXULOH PRQHWDUH GLQ H[SORDWDUH

P UIXUL

SURGXF LD

YkQGXW

VXQW IRUPDWH GLQ

VXEYHQ LLOH

GH

YkQ] ULOH

GH

vQ

FH

H[SORDWDUH

WLPS

cheltuielile monetare din exploatare cuprind acele categorii de cheltuieli

FDUH SUHVXSXQ SO
L LPHGLDWH VDX OD WHUPHQ (consumurile provenind de la
WHU L FKHOWXLHOL FX

LPSR]LWH WD[H L

Y UV PLQWH DVLPLODWH L FKHOWXLHOL FX

personalul).
([FHGHQWXO EUXW
SHQWUX

HIHFWXDUHD

GH

DO

H[SORDW ULL HVWH XWLOL]DW vQ SURFHVXO

FRPSDUD LL

ILUPHORU FDUH vL GHVI RDU

vQ

GLQDPLF

L vQ

VSD LX

FX

GH DQDOL]
UH]XOW

atele

DFWLYLWDWHD vQ DFHODL GRPHQLX

&RPSDUDWLY FX FHLODO L LQGLFDWRUL XWLOL]D L vQ SURFHVXO GH DQDOL]

UH]XOWDWHORU

H[FHGHQWXO

EUXW

DO

H[SORDW ULL

LQIOXHQ DW GH VLVWHPXO GH DPRUWL]DUH SUDFWLF

SURYL]LRDQHORU

GH

SROLWLFD

ILQDQFLDU

SUH]LQW

DYDQWDMXO

QX

HVWH

at, de politica de construire a

JUDGXO

GH

vQGDWRUDUH

ILVFDO

VLVWHPXO GH LPSR]LWDUH D SURILWXOXL SUHFXP L GH SROLWLFD GH GLVWULEXLUH D

dividendelor.
$QDOL]D

H[FHGHQWXOXL

EUXW

XWLOL]kQG XUP WRDUHOH UDWH GH VWUXFWXU

DO

H[SORDW ULL

UHSDUWL LH

SRDWH

IL

DSURIXQGDW

a)

Cheltuieli cu amortizarea
100
E.B.E

b)

Rp =

Cheltuieli cu provizioanele aferente exploatarii

100
E.B.E.

R!2Ir f #x!fv # g 8RRf d#wi v hvy ! df p!wv u22qi 2f de2b`

a a wr d y y d r
p hw y x d tsr gfp h g ca

Ra =

Cheltuieli cu dobanzile
100
E.B.E.
Impozit pe profit
100
Ri =
E.B.E.
Dividende
Rd =
100
E.B.E
Rcf =

c)
d)
e)

n care:
Ra = UHSUH]LQW UDWD DPRUWL] ULL
Rp = rata provizioanelor;
Rcf = rata cheltuielilor financiare cu dobnzile;
Ri = rata impozitului pe profit;
Rd = rata dividendelor.

 $QDOL]D IDFWRULDO

D SURILWXOXL OD QLYHO GH vQWUHSULQGHUH

$QDOL]D SURILWXOXL VH LPSXQH D IL HIHFWXDW

GLUHF L

LQGLUHF L

FDUH

DF LRQHD]

OD

QLYHOXO

L vQ IXQF

vQWUHSULQGHULL

FRQVLGHUDUH GLYHUVLWDWHD GH IRUPH VXE FDUH VH SUH]LQW

vQWUHSULQGHUH
YHGHUH

DQDOL]D IDFWRULDO

XUP WRDUHOH

FDWHJRULL

D DFHVWXLD

GH

UH]XOWDWH

ie de factorii
/XkQG

vQ

SURILWXO QHW OD QLYHO GH

SRDWH IL DSURIXQGDW
UH]XOWDWXO

EUXW

DO

DYkQG vQ

H[HUFL LXOXL

UH]XOWDWXO H[SORDW ULL L UH]XOWDWXO DIHUHQW FLIUHL GH DIDFHUL

 $QDOL]D IDFWRULDO

D UH]XOWDWXOXL EUXW DO H[HUFL LXOXL

5H]XOWDWXO EUXW DO H[HUFL LXOXL 5E VH GHWHUPLQ

FD GLIHUHQ

YHQLWXULOH WRWDOH L FKHOWXLHOLOH WRWDOH

0RGXO GH DQDOL]

IDFWRULDO

HVWH

Ct
Rb = Vt 1 = Vt prb,
Vt

unde :

prb =

gi prbi
100

n care:
prb = UHSUH]LQW UH]XOWDWXO SURILWXO PHGLX EUXW OD  OHX YHQLWXUL WRWDOH
gi = structura veniturilor totale pe FDWHJRULL GH DFWLYLW L
prbi = SURILWXO EUXW OD  OHX YHQLWXUL SH FDWHJRULL GH DFWLYLW L

vQWUH

6LVWHPXO GH IDFWRUL FDUH DF LRQHD]

DVXSUD SURILWXOXL EUXW VH SUH]LQW

astfel:
Vt
Prb
gi

prb
prbi
0 VXUDUHD LQIOXHQ HORU IDFWRULORU VH UHDOL]HD]

FX DMXWRUXO PHWRGHL

sXEVWLWXLULORU vQ ODQ 
 $QDOL]D IDFWRULDO

D UH]XOWDWXOXL H[SORDW

5H]XOWDWXO H[SORDW ULL 5H VH FLUFXPVFULH OD

ED]

vQWUHSULQGHULL

FDUDFWHUL]HD]

ciclului de exploatare. El se dHWHUPLQ

vQ

P ULPH

FD

GLIHUHQ

ULL
QLYHOXO DFWLYLW

DEVROXW
vQWUH

LL

GH

UHQWDELOLWDWHD
YHQLWXULOH

GLQ

H[SORDWDUH 9H L FKHOWXLHOLOH DIHUHQWH DFHVWRUD &H DVWIHO

Re = Ve Ce
$QDOL]D IDFWRULDO

D UH]XOWDWXOXL H[SORDW ULL VH SRDWH HIHFWXD SH ED]D

XUP WRDUHORU PRGHOH

a)
Ce
Re = Ve1
= Ve pre,
Ve

unde

pre =

gi prei ,
100

iar

prei = 1

cei
vei

unde:
gi = UHSUH]LQW VWUXFWXUD YHQLWXULORU GLQ H[SORDWDUH SH WLSXUL GH DFWLYLW L
prei = profitul sau pierderea la 1 leu venituri din exploatare pe tipuri de
activitate;
vei = VXPD YHQLWXULORU GLQ H[SORDWDUH SH WLSXUL GH DFWLYLW L
cei = suma cheltuieliORU GH H[SORDWDUH SH WLSXUL GH DFWLYLW L
b) Re = Ae

Ve Re
Ae Ve

8WLOL]kQG SULPXO PRGHO GH DQDOL]  VLVWHPXO GH IDFWRUL VH SUH]LQW

astfel:

Ns
T
t

Ve
wh

(Ve )

Re
gi
pre

prei
unde:
gi = UHSUH]LQW VWUXFWXUD YHQLWXULORU GLQ H[SORDWDUH SH WLSXUL GH DFWLYLW i;
prei = profitul sau pierderea la 1 leu venituri din exploatare pe tipuri de
DFWLYLW

Vei =
cei =

L

VXPD YHQLWXULORU GLQ H[SORDWDUH SH WLSXUL GH DFWLYLW

VXPD FKHOWXLHOLORU GH H[SORDWDUH SH WLSXUL GH DFWLYLW
$FHVW PRGHO GH DQDOL]

L
L

DUH XQ F

aracter general valabil pentru toate

tipurile de ntreprinderi
Tabelul 4.2
mil. lei
Nr.
crt.
1.
2.
3.
4.
5.
6.

Indicatori

Simbol

1XP UXO PHGLX GH VDODULD L SH

rs.)

5H]XOWDWXO H[SORDW ULL 

-2)

)RQGXO WRWDO GH WLPS GH PXQF

RUH

Timpul mediu pe un salariat (ore)

Realizat

Ve
Che

Venituri din exploatare

Cheltuieli din exploatare

Programat
75200
69184
800
6016
1504000
1880

84360
76345,8
760
8014,2
1406000
1850

Ns
Re
T

Nr.
crt.
7.
8.
9.

Indicatori
3URGXFWLYLWDWHD

PHGLH

Simbol

RUDU 

VWDELOLW

SH

wh

baza veniturilor din exploatare

Profitul mediu la 1 leu venituri din
exploatare (lei)
Profitul mediu recalculat la 1 leu venituri
din exploatare (lei)
0HWRGRORJLD

GH

DQDOL]

Programat

Realizat

50

60

0,08

0,095

0,082

(Ve )

pre
r

IDFWRULDO

pre
L

UHVSHFWLY

LQIOXHQ HORU IDFWRULORU SRWULYLW PRGHOXOXL D VH SUH]LQW

Re = Re1 Re0 = +1998,2 mil. lei

FXDQWLILFDUHD

DVWIHO

GLQ FDUH GDWRULW 

1 LQIOXHQ HL PRGLILF ULL YHQLWXULORU GLQ H[SORDWDUH

Ve = (Ve1 Ve 0 )pre 0 = +732,8 mil. lei
GLQ FDUH GDWRULW 
 LQIOXHQ HL PRGLILF ULL IRQGXOXL WRWDO GH WLPS GH PXQF 

T = (T1 T0 )wh 0 pre 0 = 392 mil. lei

GLQ FDUH GDWRULW 

 LQIOXHQ HL PRGLILF ULL QXP UXOXL PHGLX GH VDODULD L

Ns = Ns1 Ns 0 t 0 wh 0 pre 0 = 300,8 mil. lei

 LQIOXHQ HL PRGLILF ULL WLPSXOXL PHGLX SH XQ VDODULDW

t = Ns1 t 1 t 0 wh 0 pre 0 = 91,2 mil. lei

 LQIOXHQ HL SURGXFWLYLW

wh

(Ve )

LL PHGLL RUDUH

= T1 wh 1 wh 0 pre 0 = +1124,8 mil. lei

2 LQIOXHQ D PRGLILF ULL SURILWXOXL PHGLX OD 

exploatare:
pre = Ve1 pre1 pre 0 = +1265,4 mil. lei
din care, datorit 


DFWLYLW

L

LQIOXHQ HL

OHX

YHQLWXUL

GLQ

VWUXFWXULL

YHQLWXULORU

GLQ

H[SORDWDUH

g i = Ve1 r pre1 pre 0 = +168,72 mil. lei

r

pre =

g i1pre i0
100

SH

WLSXUL

GH

 LQIOXHQ HL SURILWXOXL OD  OHX YHQLWXUL GLQ H[SORDWDUH SH WLSXUL GH

DFWLYLW

L

pre i = Ve1 pre1 r pre = +1096,68 mil. lei

Se rePDUF

GHS LUHD SURILWXOXL GH H[SORDWDUH SUHY ]XW FX 

PLO OHL UHVSHFWLY FX 

H[SORDWDUH L GH 

 GDWRUDW

vQ SURSRU LH GH 

YHQLWXULORU GLQ

PDMRU ULL PDUMHL PHGLL GH SURILW EUXW OD  OHX YHQLWXUL

din exploatare.
$QDOL]kQG

LQIOXHQ HOH

actorilor care au generat modificarea

UH]XOWDWXOXL H[SORDW ULL FRQVWDW P XUP WRDUHOH

FUHWHUHD YHQLWXULORU GLQ H[SORDWDUH FX  PLO OHL D FRQGXV OD

PDMRUDUHD PDVHL SURILWXOXL FX  PLO OHL $FHDVW
IRVW GHWHUPLQDW

GH PXQF  GLQ SXQFW GH YHGHUH H[WHQVLY FRQVWDWkQGX

LQFRPSOHW

VLWXD LH D

vQ H[FOXVLYLWDWH GH XWLOL]DUHD LQWHQVLY

D IRU HL

-se folosirea

D SRWHQ LDOXOXL XPDQ

marja medie de profit brut la 1 leu venituri din exploatare a

FUHVFXW FX  OHL UDWD UHQWDELOLW

s-D

PDMRUDW

FX

H[SORDW ULL FX
UH]XOW



 PLO

GLQ

OHL

PRGLILFDUHD

LL YHQLWXULORU GLQ H[SORDWDUH

GHWHUPLQDW

VSRULUHD

UH]XOWDWXOXL

$SURIXQGkQG DFHDVW

vQUHJLVWUDW



LQIOXHQ

-a datorat

PRGLILF ULL VWUXFWXULL YHQLWXULORU GLQ H[SORDWDUH L 

FUHWHULL

profitulXL EUXW OD  OHX YHQLWXUL SH WLSXUL GH DFWLYLW L

modificarea structurii veniturilor din exploatare n favoarea
WLSXULORU GH DFWLYLW
L OD FDUH V-D SUHY ]XW XQ SURILW EUXW OD  OHX
venituri mai mare dect profitul brut mediu programat pe
vQWUHSULQGHUH L vQ GHIDYRDUHD DFWLYLW LORU OD FDUH V-a programat
XQ SURILW EUXW OD  OHX YHQLWXUL PDL PLF GHFkW PHGLD SUHY ]XW  D
DYXW

FD

HIHFW

FUHWHUHD

PDVHL

SURILWXOXL

GLQ

H[SORDWDUH

FX

168,72 mil. lei;

SURILWXO

EUXW

OD

OHX

YHQLWXUL

SH

WLSXUL

GH

DFWLYLW

DYXW

WHQGLQ D GH FUHWHUH L D FRQGXV OD PDMRUDUHD PDVHL SURILWXOXL GLQ

H[SORDWDUH

FX

GHWHUPLQDW

GH FUHWHUHD PDL UDSLG

ID



GH FHD vQUHJLVWUDW

FD]XO

DFWLYLW

LORU

FDUH

PLO

OHL

$FHDVW

VLWXD LH

IRVW

D YHQLWXULORU GLQ H[SORDWDUH

OD QLYHOXO FKHOWXLHOLORU GH H[SORDWDUH vQ

GH LQ

SRQGHUHD

PDMRULWDU

vQ

FDGUXO

veniturilor din exploatare (Ice1 < Ivei), respectiv de sporirea

HILFLHQ HL UHVXUVHORU FRQVXPDWH GH vQWUHSULQGHUH

&RQIRUP

PRGHOXOXL

GH

DQDOL]

VLVWHPXO

GH

IDFWRUL

HVWH

XUP WRUXO

Ae

Ve
Ae

Re

gi
Re
Ve

prei
9DORDUHD

DFWLYHORU

GH

H[SORDWDUH

UHIOHFW

YDORDUHD

DFWLYHORU

LPRELOL]DWH L D DFWLYHORU FLUFXODQWH DIHUHQWH FLFOXOXL GH H[SORDWDUH 'HFL

P ULPHD DFWLYHORU GH H[SORDWDUH GHWHUPLQ

P ULPHD SURGXF LHL H[HUFL LXOXL

D YHQLWXULORU GLQ H[SORDWDUH L D

profitului din exploatare.

Ve
Indicatorul
, UHSUH]LQW YHQLWXULOH PHGLL GLQ H[SORDWDUH
Ae

DFWLYH GH H[SORDWDUH L UHIOHFW

OD  OHX

HILFLHQ D DFWLYHORU GH H[SORDWDUH &UHWHUHD

valorii acestui indicator se poate realiza prin accelerarea viWH]HL

DFWLYHORU FLUFXODQWH GH H[SORDWDUH vPEXQ W

LUHD FDOLW

GH URWD LH D

LL SURGXVHORU HWF

4.2.3.3 Analiza profitului aferent cifrei de afaceri

Q FD]XO ILUPHORU FX DFWLYLWDWH GH SURGXF LH SHQWUX DQDOL]D IDFWRULDO

profitului aferent cifrei de aIDFHUL VH UHFRPDQG

a) Pr = q v p q v c

q vc
= CA pr
b) P r = q v p1

q vp

Mf CA Pr
c) Pr = T
T Mf CA

XUP WRDUHOH PRGHOH

$QDOL]D IDFWRULDO

D SURILWXOXL DIHUHQW FLIUHL GH DIDFHUL VH HIHFWXHD]

utiliznd datele din tabelul de mai jos:

Tabelul 4.3
- mil. lei -

Nr.
crt.
1.
2.
3.
4.

Indicatori
&LIUD

GH

DIDFHUL

Simbol

HYDOXDW

vQ

SUH XUL

GH

vnzare exclusiv T.V.A.

Cheltuieli totale aferente cifrei de afaceri
9ROXPXO

HIHFWLY

DO

SURGXF LHL

evaluat n SUH XUL PHGLL SUHY

9ROXPXO

HIHFWLY

HYDOXDW SH ED]

DO

YkQGXWH

]XWH

SURGXF LHL

YkQGXWH

GH FRVWXUL SUHY ]XWH

Programat

Realizat

qvp

42500

51000

qvc

39100

47379

qv1p0

46325

qv1c0

45254

5.

Suma profitului aferent cifrei de afaceri

Pr

3400

3621

6.

3URILWXO PHGLX OD  OHX FLIU

pr

0,08

0,071

GH DIDFHUL OHL

3RWULYLW PRGHOXOXL GH DQDOL]

D VLVWHPXO GH IDFWRUL FDUH DF LRQHD]

DVXSUD SURILWXOXL HVWH XUP WRUXO

qv
g
Pr
c
p
n care:
qv = UHSUH]LQW YROXPXO IL]LF DO SURGXF LHL YkQGXWH
g = VWUXFWXUD SURGXF LHL YkQGXWH SH SURGXVH
c = costurile complete unitare;
p = SUH XULOH PHGLL GH YkQ]DUH XQLWDUH H[FOXVLY 79$
$QDOL]D IDFWRULDO

astfel:

D SURILWXOXL DIHUHQW FLIUHL GH DIDFHUL VH UHDOL]HD]

PR = Pr1 Pr0 = 3621 3400 = + 221 mil. lei

GLQ FDUH GDWRULW 

1 LQIOXHQ HL PRGLILF ULL YROXPXOXL IL]LF DO SURGXF LHL YkQGXWH

qv = Pr0Iqv Pr0 = 3400 109% - 3400 = + 306 mil. lei
Iq v =

q v1p 0 100 = 46325 100 = 109 %

42500
q v0p0

2 LQIOXHQ HL PRGLILF ULL VWUXFWXULL SURGXF LHL YkQGXWH SH SURGXVH

g = (qv1p0 - qv1c0) Pr0Iqv = (46325 45254) 3400 109% = - 2635 mil. lei
3 LQIOXHQ HL PRGLILF ULL FRPSOHWH XQLWDUH
c = (qv1p1 - qv1c1) (qv1p0 - qv1c0) = -(qv1c1 - qv1c0) = - (47379 45254) = -2125 mii lei
4 LQIOXHQ HL PRGLILF ULL SUH XULORU PHGLL GH YkQ]DUH XQLWDUH H[FOXVLY
T.V.A.:
p = (qv1p1 - qv1c1) - (qv1p0 - qv1c1) = qv1p1 - qv1p0 = 51000
- 46325 = + 4675 mil. lei
/D

ILQHOH

SHULRDGHL

DQDOL]DWH

FRPSDUDWLY

FX

QLYHOXO

SUHY ]XW

vQ

EXJHWXO GH YHQLWXUL L FKHOWXLHOL V D vQUHJLVWUDW R FUHWHUH D SURILWXOXL DIHUHQW

cifrei de afaFHUL

FX  PLO OHL UHVSHFWLY FX 

DIHUHQW FLIUHL GH DIDFHUL LQIOXHQ HD]

 &UHWHUHD SURILWXOXL

SR]LWLY UH]XOWDWXO H[SORDW ULL UH]XOWDWXO

EUXW L UH]XOWDWXO QHW DO H[HUFL LXOXL L LQGLFDWRULL GH HILFLHQ

baza acestora.
Analiznd inflXHQ HOH IDFWRULORU VH FRQVWDW
FUHWHUHD YROXPXOXL IL]LF DO SURGXF LHL
HIHFW

VSRULUHD

SURGXF LHL

SURILWXOXL

YkQGXWH

vQWUHSULQGHULL H[LVW

FX

UHOHY



PLO

FRQVWLWXL L SH

XUP WRDUHOH
YkQGXWH FX 
OHL

IDSWXO

,QIOXHQ D
SHQWUX

D DYXW FD
YROXPXOXL
SURGXF LD

FHUHUH UHVSHFWLY SLD D QX HVWH VDWXUDW 

VWUXFWXUD FLIUHL GH DIDFHUL D LQIOXHQ DW SURILWXO vQ VHQVXO VF GHULL

FX  PLO OHL VLWXD LH FH VH H[SOLF

SULQ GLPLQXDUHD SRQGHULL

produselor vndute la care s-DX SUHY ]XW UDWH DOH UHQWDELOLW

comerciale mai mari decW UDWD PHGLH FRPHUFLDO SUHY ]XW

SH

WRWDO vQWUHSULQGHUH L FUHWHUHD SRQGHULL SURGXVHORU OD FDUH V

-au

SURJUDPDW

UDWH

GH

PHGLH FRPHUFLDO

UHQWDELOLWDWH SUHY ]XWH PDL PLFL

SURJUDPDW

GHFkW

LL

UDWD

SH vQWUHSULQGHUH

costurile complete unitare au exercitat o infOXHQ

QHJDWLY

DVXSUD SURILWXOXL GHWHUPLQkQG VF GHUHD DFHVWXLD FX  PLO OHL

VLWXD LH GHWHUPLQDW

GH GHS LUHD FRVWXULORU SURGXVHORU FH GH LQ

SRQGHUHD SULQFLSDO

vQ WRWDOXO YkQ] ULORU ,QIOXHQ D FRVWXULORU VH

DSUHFLD]
V

FD MXVWLILFDW

FX FRQGL LD FD HIRUWXO VXSOLPHQWDU I FXW

IL IRVW UHFXSHUDW SH VHDPD SUH XULORU GH YkQ]DUH FD XUPDUH D

RE LQHULL XQRU SURGXVH VXSHULRDUH GLQ SXQFW GH YHGHUH FDOLWDWLY

SUH XULOH GH YkQ]DUH DX IRVW PDL PDUL ID

GH QLYHOXO SUHY ]XW OD

VRUWLPHQWHOH FDUH GH LQ SRQGHUHD PDMRULWDU

DX

GHWHUPLQDW

FUHWHUHD

PDVHL

SURILWXOXL

vQ FLIUD GH DIDFHUL L
FX



PLO

OHL

$FHDVW

VLWXD LH SRDWH IL GHWHUPLQDW

GH vPEXQ W

SURGXVHORU FD] vQ FDUH DSUHFLHUHD HVWH SR]LWLY

LUHD FDOLW

LL

LVDX FD XUPDUH

D DF LXQLL IDFWRULORU FRQMXQFWXUDOL RIHUWD PDL PLF

GHFkW FHUHUHD

LQIOD LH HWF
6LVWHPXO

GH

IDFWRUL

FDUH

DF LRQHD]

DVXSUD

SURILWXOXL

SRWULYLW

PRGHOXOXL E HVWH XUP WRUXO

qv
CA
p
Pr
g
p

pr

c
0HWRGRORJLD GH DQDOL]
DFHVWRUD VH SUH]LQW

IDFWRULDO

D SURILWXOXL L FXDQWLILFDUHD DF LXQLL

DVWIH

l:
Pr = Pr1 Pr0 = +221 mil. lei

GLQ FDUH GDWRULW 

 LQIOXHQ HL PRGLILF ULL FLIUHL GH DIDFHUL

CA = (CA1 CA 0 )pr 0 = (51000 42500 ) 0,08 = +680 mil. lei

GLQ FDUH GDWRULW 

 LQIOXHQ HL PRGLILF ULL YROXPXOXL IL]LF DO SURGXF LHL YkQGXWH

q v =

( q v1p0 q v0p0 )pr 0 = (46325 42500)0,08 = +306 mil. lei

 LQIOXHQ HL PRGLILF ULL SUH XULORU PHGLL GH YkQ]DUH XQLWDUH

p = ( q v1p1 q v1p 0 )pr 0 = (51000 46325)0,08 = +374 mil. lei

 LQIOXHQ HL PRGLILF ULL SURILWXOXL PHGLX OD  OHX FLIUHL GH DIDFHUL

pr = CA 1 pr 1 pr 0 = 51000(0,071 0,08) = 459 mil. lei

GLQ FDUH GDWRULW 

 LQIOXHQ HL PRGLILF ULL VWUXFWXULL SURGXF LHL YkQGXWH SH S

q v1c 0
q v 0 c 0
1
=
g = CA1 1
q v1p 0
q v 0 p 0

= CA1 pr pr 0 = 51000(0,0231 0,08) = 2901,9 mil. lei

roduse:

 LQIOXHQ HL PRGLILF ULL SUH XULORU PHGLL GH YkQ]DUH XQLWDUH

q v1c 0
q v1c 0
1
=
p = CA1 1
q v1p1
q v1p 0

= CA1 pr pr = 51000(0,1127 0,0231) = +4569,6 mil. lei

 LQIOXHQ HL PRGLILF ULL FRVWXULORU XQLWDUH

q v1c1
q v1c 0
1
=
c = CA1 1
q v1p1
q v1p1

= CA1 pr1 pr = 51000(0,071 0,1127 ) = 2126,7 mil. lei

&UHWHUHD SURILWXOXL DIHUHQW V

-a datorat n exclusivitate sporirii cifrei

GH DIDFHUL PDUMD PHGLH GH SURILW OD  OHX YkQ] UL VF ]kQG D GHWHUPLQDW

diminuarea masei profitului.

&LIUD GH DIDFHUL D FUHVFXW ID

GH QLYHOXO SUHY ]XW FX  PLO OHL

contribuind la sporirea profitului cu 680 mil. lei. Aprofundnd influeQ D

FLIUHL GH DIDFHUL SULQ LQWHUPHGLXO FHORU GRL IDFWRUL GH JUDGXO ,, VH FRQVWDW

YROXPXO IL]LF DO SURGXF LHL YkQGXWH D LQIOXHQ DW SR]LWLY vQ VHQVXO FUHWHULL

SURILWXOXL FX  PLO OHL vQ WLPS FH PDMRUDUHD SUH XULORU PHGLL GH YkQ]DUH

unitare a avut ca efect sporirea profitului cu 374 mil. lei.

6F GHUHD
VHPQLILF

SURILWXOXL PHGLX

GLPLQXDUH

vQWUHSULQGHUH FX 

UDWHL

OD

 OHX YkQ] UL FX  OHL

UHQWDELOLW

LL

FRPHUFLDOH

OD

FHHD FH

QLYHO

GH

 D DYXW FD UH]XOWDW PLFRUDUHD SURILWXOXL DIHUHQW FLIUH

GH DIDFHUL FX  PLO OHL ,QIOXHQ HOH IDFWRULORU LQGLUHF L FDUH DF LRQHD]
DVXSUD SURILWXOXL SULQ LQWHUPHGLXO SURILWXOXL PHGLX OD  OHX FLIU
VWUXFWXU 

SUH XUL

FRVWXUL

prezentat (modelul de anaOL]

VH

LQWHUSUHWHD]

VLPLODU

SULQFLSDOH

SXQH
GH

vQ

HYLGHQ

FUHWHUH

elului mai sus

D

0RGHOXO E DUH R YDORDUH LQIRUPD LRQDO

GHRDUHFH

GH DIDFHUL

PRG

SULQ

IDFWRULL

SURILWXOXL

GH

VXSHULRDU

JUDGXO

DQXPH



SULQ

FHOH

PRGHOXOXL D
GRX

VSRULUHD

YkQ] ULORU L PRGLILFDUHD PDUMHL PHGLL GH SURILW OD  OHX YkQ] UL

GLUHF LL
UXODMXOXL

3RWULYLW PRGHOXOXL GH DQDOL]

F VLVWHPXO GH IDFWRUL HVWH XUP WRUXO

Mf
T
CA
P

Mf
g
P
sau pr
CA

n care:
T
= UHSUH]LQW

p
c

IRQGXO WRWDO GH WLPS GH PXQF 

Mf
= JUDGXO GH vQ]HVWUDUH WHKQLF D PXQFLL
T
CA
= HILFLHQ D XWLOL] ULL PLMORDFHORU IL[H H[SULPDW
Mf
n medie la 1 leu mijloace fixe.
$FHVW PRGHO SHUPLWH SXQHUHD vQ HYLGHQ

SULQ YkQ] ULOH FH UHYLQ

vQ SOXV ID

GH PRGHOHOH

SUHFHGHQWH D LQIOXHQ HORU XWLOL] ULL H[WHQVLYH D IDFWRUXOXL XPDQ J

vQ]HVWUDUH D IRU HL GH PXQF

radului de

L HILFLHQ HL IRORVLULL PLMORDFHORU IL[H DVXSUD

masei profitului.

 $QDOL]D IDFWRULDO

D SURILWXOXL SH SURGXV

Aprofundarea analizei profitului total al ntreprinderii presupune

studierea profitului principalHORU SURGXVH L VWDELOLUHD LQIOXHQ HORU IDFWRULORU
GLUHF L L LQGLUHF L FDUH DF LRQHD]

DVXSUD DFHVWRUD

Analiza profitului pe produs (Prp) se poate realiza pe baza

modelului:
Prp = qv(p - c)

c = cm + csd + ci
cm = cs j p j
csd = t sh
Ci
ci =
q

n care:
cm = UHSUH]LQW FKHOWXLHOLOH FX PDWHULLOH SULPH L PDWHULDOHOH GLUHFWH SH
unitatea de produs;
csd = FKHOWXLHOLOH FX PDQRSHUD GLUHFW SH XQLWDWHD GH SURGXV
ci = cheltuielile indirecte pe unitatea de produs;
csj = FRQVXPXO VSHFLILF GLQ UHVXUVD PDWHULDO M
pj = SUH XO GH DSURYL]LRQDUH DO UHVXUVHL M
t = WLPSXO GH PXQF SH XQLWDWHD GH SURGXV
sh = salariul mediu oUDU LQFOXVLY FRQWULEX LLOH SHQWUX DVLJXU UL L SURWHF LH
VRFLDO 

Ci = suma cheltuielilor indirecte;

q = YROXPXO IL]LF DO SURGXF LHL RE LQXWH
6LVWHPXO GH IDFWRUL FDUH DF LRQHD]

DVXSUD PRGLILF ULL SURILWXOXL SH

SURGXV VH SUH]LQW  DVWIHO

csj
qv
Prp

cm

pj
t

csd
sh

p
0HWRGRORJLD

GH

ci
DQDOL]

SURILWXOXL

SH

SURGXV

FXDQWLILFDUHD LQIOXHQ HORU IDFWRULORU PDL VXV SUH]HQWD L GXS

1. qv = (qv1 qv0) (p0 c0)

SUHVXSXQH

FXP XUPHD] 

2. c = -qv1 (c1 c0)

din care:
2.1. cm = q v1 (cm 1 cm 0 )
din care:
2.1.1. csj = -qv1 (csj1pj0 - csj0pj0)
2.1.2. p j = q v1 cs j1 p j1 cs j1 p j0

2.2. csd = q v1 csd 1 csd 0

din care:
2.2.1. t = q v1 (t 1 t 0 )sh 0

2.2.2. sh = q v1t 1 sh 1 sh 0

2.3. ci = q v1 ci1 ci 0
3. p = qv1 (p1 p0)

4.3 Analiza ratelor de rentabilitate

5DWD GH UHQWDELOLWDWH HVWH XQ UDSRUW vQWUH R IRUP
SURILWXOXL

DFWLYH

VDX

FDSLWDOXUL

SURSULL

SHUPDQHQWH

GH H[SULPDUH D
VDX

XQ

IOX[

GH

activitate (cifra de afaceri, resurse consumate etc.).

Diferitele forme de exprimare ale ratelor de rentabilitate au valori
LQIRUPD LRQDOH

YDULDWH

RJOLQGHVF

PXOWLSOHOH

ODWXUL

DOH

DFWLYLW

LL

economico-financiare a firmei.
3ULQFLSDOHOH UDWH RSHUD LRQDOH vQ DQDOL]D ILQDQFLDU
VXQW UDWD UHQWDELOLW
UDWD UHQWDELOLW

LL FRPHUFLDOH UDWD UHQWDELOLW

LL HFRQRPLFH L UDWD UHQWDELOLW

 $QDOL]D UDWHL UHQWDELOLW

5DWD UHQWDELOLW

sumate,

LL ILQDQFLDUH

LL FRPHUFLDOH 5

LL FRPHUFLDOH H[SULP

D vQWUHSULQGHULL

LL UHVXUVHORU FRQ

FRUHOD LD GLQWUH SURILWXO WRWDO

DIHUHQW YkQ] ULORU L FLIUD GH DIDFHUL GkQG H[SUHVLH SR

liticii comerciale a

ntreprinderii.

0RGHOHOH

XWLOL]DWH

vQ

DQDOL]D

IDFWRULDO

DOH

DFHVWHL

UDWH

VXQW

XUP WRDUHOH

a)
Rc =

Pr
100 =
qv p
b) R c =

n care:
gi UHSUH]LQW

ric - UDWD

g i ric , r c = 1 ci 100

100

pi

VWUXFWXUD SURGXF LHL YkQGXWH SH SURGXVH

UHQWDELOLW

3RWULYLW

UDWHL UHQWDELOLW

qv p qv c 100, sau R c = 1 q v c 100

q p
qv p
v

LL FRPHUFLDOH SH SURGXVH

PRGHOXOXL D

RUGLQHD

vQ FDUH IDFWRULL DF LRQHD]

DVXSUD

LL FRPHUFLDOH HVWH XUP WRDUHD VWUXFWXUD SURGXF LHL YkQGXWH

SH SURGXVH SUH XULOH PHGLL GH YkQ]DUH XQLWDUH L FRVWXULO

e unitare.

0HWRGRORJLD GH FXDQWLILFDUH D LQIOXHQ HORU IDFWRULORU HVWH XUP WRDUHD

c
R c = R 1 R c
0

GLQ FDUH GDWRULW 

 LQIOXHQ HL PRGLILF ULL VWUXFWXULL SURGXF LHL YkQGXWH SH SURGXVH

q v1c0 100 1 q v0c0 100

q v1p 0
qop0

 LQIOXHQ HL PRGLILF ULL SUH XU

ilor medii de vnzare unitare:

q c
q c
1 v1 0 100 1 v1 0 100

qv1 p1
qv1 p0

GLQ FDUH GDWRULW 

 LQIOXHQ HL LQIOD LHL

qv1c0 100 1 qv1c0 100

qv1 p0 I p
q v1 p0

qv1c 0 100 1 q v1c0 100

q v1 p 0 I p
q v1 p1

 LQIOXHQ HL DOWRU IDFWRUL GHFkW LQIOD LD

n care:
Ip = UHSUH]LQW

LQGLFHOH LQIOD LHL ID

GH ED]D GH FRPSDUD LH

 LQIOXHQ HL PRGLILF ULL FRVWXULORU XQLWDUH

qv1c1 100 1 qv1c 0 100

qv1 p1
qv1 p1

Q FD]XO XWLOL] ULL PRGHOXOXL GH DQDOL]

SUH]LQW

E VLVWHPXO GH IDFWRUL VH

DVWIHO

gi

Rc

pi

ric

ci

0HWRGRORJLD GH DQDOL]

R
GLQ FDUH GDWRULW 

c
= R1

IDFWRULDO

HVWH XUP WRDUHD

Rc
0

 LQIOXHQ HL PRGLILF ULL VWUXFWXULL SURGXF LHL YkQGXWH SH SURGXVH

g i1ri0
100

g i0 ri 0
100

=r R c R c
0

 LQIOXHQ HL PRGLILF ULL UDWHL UHQWDELOLW

g i1ri1
100

GLQ FDUH GDWRULW 

c
g i1ri0

100

LL FRPHUFLDOH SH SURGXVH

c
= R1 r R c

 LQIOXHQ HL PRGLILF ULL SUH XULORU PHGLL GH YkQ]DUH XQLWDUH

c
c i0
100 g i1 1 i 0 100
g i1 1

p i0
p i1

100
100

 LQIOXHQ HL PRGLILF ULL FRVWXULORU XQLWDUH

c i1
100 g i1 1 i0 100
g i1 1

p i1
p i1

100
100

rc

 $QDOL]D UDWHL UHQWDELOLW

5DWD

UHQWDELOLW

LL

LL UHVXUVHORU FRQVXPDWH 5

UHVXUVHORU

FRQVXPDWH

UHIOHFW

FRUHOD LD

GLQWUH

UH]XOWDWXO DIHUHQW FLIUHL GH DIDFHUL L FRVWXULOH WRWDOH DIHUHQWH YkQ] ULORU

0RGHOXO GH FDOFXO L DQDOL]

R rc =

Pr
100 =
qv c

HVWH XUP WRUXO

qv p qv c
qv c

)DFWRULL GLUHF L FDUH LQIOXHQ HD]

consumDWH

VXQW

VWUXFWXUD

SURGXF LHL

100

DVXSUD UDWHL UHQWDELOLW

YkQGXWH

SH

SURGXVH

LL UHVXUVHORU
J

FRVWXULOH

XQLWDUH F L SUH XULOH PHGLL GH YkQ]DUH XQLWDUH H[FOXVLY 79$ S

0HWRGRORJLD

GH

DQDOL]

IDFWRULDO

FXDQWLILFDUHD

factorilor, utiliznd datele din tabelul nr. 5.3. se pUH]LQW

rc 42500 39100
R0 =
100 = 8,70%
39100
rc 51000 47379
R1 =
100 = 7,64%
47379

LQIOXHQ HORU

DVWIHO

rc
rc
R rc = R 1 R 0 = 7,64 8,70 = 1,06%

GLQ FDUH GDWRULW 

 LQIOXHQ HL PRGLILF ULL VWUXFWXULL SURGXF LHL YkQGXWH SH SURGXVH

g =

q v1p 0 g v1c 0
rc
100 R 0 = 6,33%
q v1c 0

 LQIOXHQ HL PRGLILF ULL FRVWXULORU XQLWDUH

c =


q v1p 0 g v1c1
q v1p 0 g v1c 0
100
100 = 2,82%
q v1c1
q v1c 0

LQIOXHQ HL

PRGLILF ULL

SUH XULORU

PHGLL

GH

YkQ]DUH

XQLWDUH

SH

produse:

p =
/D
UHQWDELOLW

q v1p1 g v1c1
q v1p 0 g v1c1
100
100 = +8,09%
q v1c1
q v1c1

ILQHOH

SHULRDGHL

DQDOL]DWH

VH

FRQVWDW

VF GHUH

UDWHL

LL UHVXUVHORU FRQVXPDWH FD XUPDUH D GLPLQX ULL UDWHL GH HILFLHQ

a costurilor totale aferente cifrei de afaceri (indicele profitului a fost mai mic
dect indicele cheltuielilor totale aferente cifrei de afaceri, respectiv 106,5%
ID

GH 

6F GHUHD UDWHL UHQWDELOLW

DO

GHS LULL

FRVWXULORU

LL UHVXUVHORU FRQVXPDWH V D RE LQXW FD HIHF

SUHY ]XWH

SH

SURGXVH

PRGLILF ULL

VWUXFWXULL

YkQ] ULORU

vQ

WLPS

FH

FUHWHUHD

SUH XULORU

LQIOXHQ DW vQ VHQVXO VSRULULL UDWHL UHQWDELOLW

PHGLL

GH

$SUHFLHUHD LQIOXHQ HORU IDFWRULORU HVWH LGHQWLF

DQDOL]D IDFWRULDO
7UHEXLH

YkQ]DUH

XQLWDUH

LL
FX FHD SUH]HQWDW

OD

D SURILWXOXL DIHUHQW FLIUHL GH DIDFHUL

UHPDUFDW

IDSWXO

FRQVXPDWH FRVWXO H[HUFLW

R GXEO

DVXSUD

UDWHL

UHQWDELOLW

LL

UHVXUVHORU

DF LXQH LQIOXHQ kQG vQ VHQVXUL GLIHULWH

SULQ QXP U WRUXO L QXPLWRUXO UDSRUWXOXL H[ vQ FD]XO GHS LULL FRVWXULORU
XQLWDUH

SH

SURGXV

QXP U WRUXO

SURILWXO

VH

UHGXFH

FKHOWXLHOLOH WRWDOH FUHWH FHHD FH IDFH FD LQIOXHQ D QHJDWLY

DVXSUD UDWHL UHQWDELOLW

LL UHVXUVHORU FRQVXPDWH V

LDU

QXPLWRUXO

D DFHVWXL IDFWRU

ILH PXOW PDL SXWHUQLF 

dect n cazul altor rate de rentabilitate).

Q OLWHUDWXUD GH VSHFLDOLWDWH vQ OHJ WXU
RSLQLL SRWULYLW F URUD DU WUHEXL V

ILH FXSULQV

 $QDOL]D UDWHL UHQWDELOLW

5DWD
HFRQRPLF

UHQWDELOLW

LL

PLMORDFHOH

HFRQRPLFH
HFRQRPLFH

DFHVWXLD Q FDOFXOXO UDWHL UHQWDELOLW

FX QLYHOXO DFHVWHL UDWH VXQW

vQWUH 

15%.
e

LL HFRQRPLFH 5
UHIOHFW

FRUHOD LD

FDSLWDOXO

GLQWUH

DQJDMDWH

XQ

SHQWUX

UH]XOWDW

RE LQHUHD

LL HFRQRPLFH OD QXP U WRU VH SRDWH

XWLOL]D UH]XOWDWXO H[SORDW ULL SURILWXO DIHUHQW FLIUHL GH

afaceri) sau excedentul

brut din exploatare, iar la numitor mijloacele economice totale (activul total)
sau o parte a acestora.
5DWD
ILQDQFLDU

UHQWDELOLW

LL

HFRQRPLFH

HVWH

LQGHSHQGHQW

JUDGXO GH vQGDWRUDUH SROLWLFD ILVFDO

GH

GH LPSR]LWDUH

VWUXFWXUD

a profitului,

SUHFXP L GH HOHPHQWHOH H[FHS LRQDOH

5DWD UHQWDELOLW

LL HFRQRPLFH VH SRDWH VWDELOL DVWIHO

Re
E.B.E.
100 sau
100
At
At
$QDOL]D IDFWRULDO

D UDWHL UHQWDELOLW

LL HFRQRPLFH VH SRDWH UHDOL]D SH

ED]D XUP WRDUHORU PRGHOH GH DQDOL] 

CA Re
CA E.B.E.
100 sau R e =
100
At CA
At CA
Rc
b) R e =
; At = Ai + Ac
1
1
+
CA CA
Ai
Ac
a) R e =

n care:
Rc = UHSUH]LQW

UDWD UHQWDELOLW

LL FRPHUFLDOH

c Re

100 ;
R =
CA

E.B.E.
= H[FHGHQWXO EUXW GLQ H[SORDWDUH OD  OHX FLIU GH DIDFHUL
CA
Ai = active imobilizate;
Ac = active circulante;
CA
= YLWH]D GH URWD LH D DFWLYXOXL WRWDO H[SULPDW FD QXP U GH URWD LL
At
3RWULYLW
LQIOXHQ HD]

SULPXOXL

PRGHO

DVXSUD UDWHL UHQWDELOLW

Ca
At

Re
Rc

GH

DQDOL]

VLVWHPXO

GH

IDFWRUL

FDUH

LL HFRQRPLFH HVWH XUP WRUXO

Ca
At
Re

sau

E.B.E.
CA

p
c

Modificarea ratei

UHQWDELOLW

LL

HFRQRPLFH

VH

H[SOLF

SULQ

SULVPD

FHORU GRL IDFWRUL GLUHF L YLWH]D GH URWD LH D DFWLYXOXL WRWDO &$$W L UDWD
UHQWDELOLW
DQDOL]

LL FRPHUFLDOH VDX UDWD PDUMHL EUXWH OD  OHX YkQ] UL 5  D F UHL

SRDWH

IL

DSURIXQGDW

SULQ

LQWHUPHGLXO

FHORU

WUHL

IDFWRUL

LQGLUHF L

VWUXFWXUD SURGXF LHL YkQGXWH SH SURGXVH SUH XULOH PHGLL GH YkQ]DUH XQLWDUH
L FRVWXULOH XQLWDUH

Utiliznd cel de-DO

SUH]LQW

GRLOHD PRGHO GH DQDOL]  VLVWHPXO GH IDFWRUL VH

DVWIHO

Ca
Ai
CA
Ac

Re

g
Rc

p
c

n care:
CA
- UHSUH]LQW
Ai
CA
- YLWH]D GH
Ac
(n).

UDQGDPHQWXO DFWLYHORU LPRELOL]DWH 5

URWD LH D DFWLYHORU FLUFXODQWH H[SULPDW

0HWRGRORJLD

GH

DQDOL]

IDFWRULDO 

SRWULYLW

FD QXP U GH URWD LL

DFHVWXL

PRGHO

XUP WRDUHD

e
R e = R 1 R e
0

GLQ FDUH GDWRULW 

 LQIOXHQ HL PRGLILF ULL UDQGDPHQWXOXL DFWLYHORU LPRELOL]DWH

R =

Rc
0
1
1
+
R1 n 0

Rc
0
1
1
+
R0 n0

 LQIOXHQ HL PRGLILF ULL YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH

n =

Rc
0
1
1
+
R 1 n1

Rc
0
1
1
+
R1 n 0

HVWH

 LQIOXHQ D PRGLILF ULL UDWHL UHQWDELOLW

R c =

1RW P

c
R1

LL

comerciale:

Rc
0

1
1
+
R 1 n1
1
1
1 =
+
R 1 n1

$SURIXQGDUHD IDFWRUXOXL  VH UHDOL]HD]

DVWIHO

 LQIOXHQ HL PRGLILF ULL VWUXFWXULL SURGXF LHL YkQGXWH SH SURGXVH

g =

R c R0
, unde R c = 1

qv1c0 100

q v1 p 0

 LQIOXHQ HL PRGLILF ULL SUH XULORU

p =

" R c R c
, unde " R c = 1

medii de vnzare:

q v1c0 100

qv1 p1

 LQIOXHQ HL PRGLILF ULL FRVWXULORU XQLWDUH

c =

c
R 1 " R c

Cel de-DO GRLOHD PRGHO GH DQDOL]

HYLGHQ LD]

vQ SOXV ID

GH SULPXO

HILFLHQ D XWLOL] ULL PLMORDFHORU HFRQRPLFH GH QDWXUD DFWLYHORU LPRELOL]DWH L

FLUFXODQWH FDUH UHSUH]LQW

R FRQGL LH HVHQ LDO

SHQWUX VSRULUHD UHQWDELOLW

LL

economice.

 $QDOL]D UDWHL UHQWDELOLW

5HQWDELOLWDWHD ILQDQFLDU

n calitatea lor de suUVH

VIHUHL

GH

UHQWDELOLW

FXSULQGHUH

LL ILQDQFLDUH 5I

H[SULP

FRUHOD LD GLQWUH SURILW L FDSLWDOXUL

GH ILQDQ DUH D DFWLYLW

FDSLWDOXULORU

LL ILQDQFLDUH VH DGDSWHD]

SURSULL

LL vQWUHSULQGHULL &LUFXPVFULV
L

SHUPDQHQWH

DFHVWHL VWUXFWXUL

DQDOL]D

UDWHL

 $QDOL]D UDWHL UHQWDELOLW

$FHVW
FDSLWDOXULORU

LQGLFDWRU
DF LRQDULORU

P VRDU 
DGXVH

FD

LL ILQDQFLDUH D FDSLWDOXULORU
vQ

P ULPH

DSRUW

VDX

UHODWLY 

UHPXQHUDUHD

SURILWXOXL

GLVSR]L LD ILUPHL SHQWUX DXWRILQDQ DUH 5DWD vQ FDX]  UHIOHFW

proprii

QHW

O VDW

OD

FRUHOD LD GLQWUH

SURILWXO QHW FD YHQLW DO DF LRQDULORU L FDSLWDOXULOH SURSULL DOH vQWUHSULQGHULL

5DWD UHQWDELOLW

LL ILQDQFLDUH D FDSLWDOXULORU SURSULL 5I VH GHWHUPLQ

SH ED]D UHOD LHL

Rf =

Pn
100
Kp

$QDOL]D

IDFWRULDO

proprii, poate fi aSURIXQGDW

UDWHL

UHQWDELOLW

LL

ILQDQFLDUH

FDSLWDOXULORU

XWLOL]kQG vQ DFHVW VHQV XUP WRDUHOH GRX

PRGHOH

PXOWLSOLFDWLYH GH DQDOL] 

a) Rf =

Vt At Pn
100
At Kp Vt

b) Rf =

Vt Pb Pn
100
Kp Vt Pb

Q FD]XO SULPXOXL PRGHO GH DQDOL]  VLVWHPXO GH IDFWRUL VH SUH]LQW

astfel:
Vt
At

Rf

At
Kp
Pn
Vt

n care:
Vt
= UHSUH]LQW
At
URWD LL

YLWH]D GH URWD LH D DFWLYXOXL WRWDO H[SULPDW

SULQ QXP U GH

At
= factorul de multiplicare a capitalului propriu;
Kp
Pn
= UHQWDELOLWDWHD QHW D YHQLWXULORU WRWDOH
Vt
Factorul de multipliFDUH D FDSLWDOXOXL SURSULX

UHIOHFW

JUDGXO

GH

vQGDWRUDUH D ILUPHL IDSW GHPRQVWUDW FX DMXWRUXO UHOD LHL

At Pt Kp + D
D
=
=
=1+
Kp Kp
Kp
Kp

n care:
Pt = UHSUH]LQW SDVLYXO WRWDO
D = datoriile totale;
D
= JUDGXO GH vQGDWRUDUH VDX EUD Xl prghiei financiare.
Kp
8WLOL]kQG

DFHVW

PRGHO

GH

DQDOL] 

FRQVLGHU P

FD

ILLQG

QHFHVDU

VXEOLQLD XUP WRDUHOH DVSHFWH

DFFHOHUDUHD

YLWH]HL

FRQGL LH HVHQ LDO

GH

URWD LH

DFWLYXOXL

WRWDO

SHQWUX VSRULUHD UDWHL UHQWDELOLW

UHSUH]LQW

LL ILQDQFLDUH D

capitalurilor proprii;
factorul de multiplicare a capitalului propriu, cu ct este mai
PDUH

FX

HFRQRPLF

DWkW

FUHWH

vQV  H[LVW

8QHOH E QFL DSUHFLD]

UHQWDELOLWDWHD
R OLPLW

ILQDQFLDU 

GH vQGDWRUDUH DFFHSWDW

FD OLPLW

PD[LP

GH vQGDWR

SUDFWLFD
GH E QFL

rare 70% din

VXUVHOH WRWDOH DOH ILUPHL GHS LUHD DFHVWHL OLPLWH GH vQGDWRUDUH

DWUDJH

SHQWUX

ILUPD

vQ

FDX]

GREkQ]L

PDL

PDUL

JDUDQ LL

VXSOLPHQWDUH VROLFLWDWH GH E QFL GHRDUHFH ULVFXO ILQDQFLDU HVWH

mai mare (factorul de multiplicare fiind n acest caz

70
1+
= 3,33 );
33
VSRULUHD

UHQWDELOLW

LL

QHWH

YHQLWXULORU

WRWDOH

UHSUH]LQW

SULQFLSDOD FDOH GH FUHWHUH D SURILWXOXL QHW L HVWH GHWHUPLQDW  vQ

SULQFLSDO GH HILFLHQ D DFWLYLW

LL GH H[SORDWDUH D ILUPHL

Potrivit celui de-al doilea model de

DQDOL]  VLVWHPXO GH IDFWRUL HVWH

XUP WRUXO

Vt
Kp
Pb
Vt

Rf

Pn
Pb

n care:
Vt
= UHSUH]LQW YHQLWXO PHGLX OD  OHX FDSLWDO SURSULX
Kp
Pb
= profitul mediu brut la 1 leu venituri totale;
Vt
Pn
= ponderea profitului net n profitul brut.
Pb
$FHVW

FDSLWDOXOXL
SURILWXOXL

PRGHO

SURSULX
QHW

vQ

GH

DQDOL]

SXQH

UHQWDELOLWDWHD

SURILWXO

elementelor nedHGXFWLELOH
deducerilor fiscale).

EUXW

UHIOHFW

GLQ

SXQFW

 $QDOL]D UDWHL UHQWDELOLW

8WLOL]DUHD UDWHL UHQWDELOLW
UROXO

GH

HYLGHQ LD

FRUHOD LD

vQ

EUXW

HYLGHQ

YHQLWXULORU

HYROX LD
GH

HILFLHQ D
WRWDOH

LPSR]LWXOXL

YHGHUH

ILVFDO

L
SH

XWLOL] ULL
SRQGHUHD
SURILW

SUHFXP

D
D

LL ILQDQFLDUH D FDSLWDOXOXL SHUPDQHQW

LL ILQDQFLDUH D FDSLWDOXOXL SHUPDQHQW DUH

GLQWUH

FDSLWDOXO

SHUPDQHQW

SURILWXO

EUXW

vQDLQWHD GHGXFHULL FKHOWXLHOLORU ILQDQFLDUH FX GREkQ]LOH L D LPSR]LWXOXL SH

profit.
0RGHOXO GH DQDOL]

Pb
Rfp =
100
Kpr

HVWH XUP WRUXO

n care:
Rfp UHSUH]LQW UDWD UHQWDELOLW LL ILQDQFLDUH D FDSLWDOXOXL permanent;
Pb SURILWXO EUXW vQDLQWHD GHGXFHULL FKHOWXLHOLORU ILQDQFLDUH FX GREkQ]LOH L D
impozitului pe profit;
Kpr capitalul permanent (este format din capitalurile proprii, provizioanele
SHQWUX ULVFXUL L FKHOWXLHOL L GDWRULLOH SH WHUPHQ PHGLX L lung).
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D UDWHL

LL ILQDQFLDUH D FDSLWDOXOXL SHUPDQHQW

Ca
Kpr
Rfp =

CA Pb
100
Kpr CA

Pb
CA
n care:
CA
- UHSUH]LQW FLIUD GH DIDFHUL PHGLH OD  OHX FDSLWDO SHUPDQHQW
Kpr
Pb
- SURILWXO PHGLX EUXW OD  OHX FLIU GH DIDFHUL
CA
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GH

DQDOL]

SXQH

vQ

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medii

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4.3.5 Analiza ratelor de rentabilitate pe produs

/D
UHQWDELOLW

QLYHO

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LL UHVXUVHORU FRQVXPDWH L UDWD UHQWDELOLW

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GRX

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UDWH

LL FRPHUFLDOH

LL UHVXUVHORU FRQVXPDWH SH SURGXV

UDWD

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p c1
p c1
100 0
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100
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c1

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pc
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c
c
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analizate.


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LL OD FDUH YHQLWXULOH GLQ YkQ]DUHD EXQXULORU OXFU ULORU

serviciilor etc. sunt egale cu cheltuielile (variabile aferente volumului de

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n raport cu dinamica volumului de activitate elementele de

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omogene (un singur produs)

Pragul de rentabilitate, n cazul UHDOL]

ULL XQXL VLQJXU SURGXV SRDWH IL

P VXUDW FX DMXWRUXO LQGLFDWRULORU

D 9ROXPXO IL]LF FULWLF DO SURGXF LHL Tcr

q cr =

cf
cf
=
p cv mbv

):

n care:
cf UHSUH]LQW VXPD FKHOWXLHOLORU IL[H SH SURGXV
p SUH GH YkQ]DUH XQLWDU
cv cheltuieli variabile pe unitatea de produs;
mbv PDUMD EUXW ID GH FKHOWXLHOLOH YDULDELOH SH XQLWDWHD GH SURGXV
E &LIUD GH DIDFHUL FULWLF

&$cr

):

CAcr = qcrp
&LIUD GH DIDFHUL FULWLF

UHIOHFW

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este egal cu zero.

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q cr
q max 100

G cr =

n care:
qmax UHSUH]LQW

FDSDFLWDWHD PD[LP

G 3HULRDGD FULWLF

p cr =

LL GH SURGXF LH *cr

Scr

GH SURGXF LH vQ H[SUHVLH IL]LF 

):

CA cr
CA / T

n care:
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- reprezint
T

YkQ] ULOH PHGLL SH XQLWDWHD GH WLPS ]L OXQ  DQ

):

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GH

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CA

ct
D
B

cv

CAcr

cf

qcr

)LJ  5HSUH]HQWDUHD JUDILF

qmax

D SUDJXOXL GH UHQWDELOLWDWH SH SURGXV

n care:
OX UHSUH]LQW YROXPXO IL]LF DO SURGXF LHL
OY indicatorii valorici (cifra de afaceri, cheltuieli etc.);
ct cheltuieli totale pe produs;
cv cheltuieli variabile pe produs;
cf suma cheltuielilor fixe pe produs;
OAB zona pierderilor;
BCD zona profitului.
Profitul maxim (Pr max FH SRDWH IL RE LQXW vQ FRQGL LLOH
latura CD din triunghiul BCD, se poate determina astfel:
Pr max = qmax (p cv) cf = qmax mbv cf

GDWH HVWH

2 DOW

PRGDOLWDWH GH UHSUH]HQWDUH JUDILF

D SUDJXOXL GH UHQWDELOLWDWH

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D YROXPXOXL IL]LF FULWLF

n care:
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OY LQGLFDWRULL YDORULFL SUH  FKHOWXLHOL YDULDELOH XQLWDUH FRVW XQLWDU
&RVWXO XQLWDU VH GHWHUPLQ

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cf
c = cv +
q
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DFHD

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profitul fiind zero.

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SRW

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GH

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DO

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LL

GH

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Cf + Pr e
p cv
CA = q p
q
G =
100
q max
CA
P =
CA / T
0 < Pre < Pr max
q =

unde:
Pre profitul total estimat.
n cazul n care profitul este estimat pe unitatea de produs (pru),
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astfel:
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Cf
p cv pru

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cazul profitului total estimat.

$SOLFD LL L vQWUHE

1. $QDOL]D IDFWRULDO
Interpretarea rezultatelor.

SURILWXOXL

UL
DIHUHQW

FLIUHL

GH

DIDFHUL

- mil lei Nr.

crt.
1
2
3
4
5

Indicatori
&LIUD GH DIDFHUL HYDOXDW

P0

P1

qvp

10400

12400

vQ SUH XUL GH YkQ]DUH

(-TVA)
Cheltuieli totale aferente cifrei de afaceri

qvc

PHGLL SUHY ]XWH

9ROXPXO HIHFWLY DO SURGXF LHL YkQGXWH HYDOXDW
vQ FRVWXUL SUHY ]XWH

9360

11284

q v1 p 0

q v1 c 0

Pr

9ROXPXO HIHFWLY DO SURGXF LHL HYDOXDW vQ SUH XUL

10400

1116

Profitul aferent cifrei de afaceri

1RW

vnzare, Ic
2.

: Ip = 132%; Ic = 126% unde Ip UHSUH]LQW LQGLFHOH SUH XULORU GH

UHSUH]LQW LQGLFHOH FRVtului mediu pe produs.

3H

ED]D

GDWHORU

HYROX LD UDWHL UHQWDELOLW

V

Simbol

SUH]HQWDWH

OD

LL FRPHUFLDOH V

DSOLFD LD

QU

VH

DQDOL]H]H

VH GHWHUPLQH LQIOXHQ D IDFWRULORU L

VH LQWHUSUHWH]H UH]XOWDWHOH

3. 6 VH LQWHUSUHWH]H FD]XO
ICA = 108%
unde: CA = cifra de afaceri
ICh = 106%
Ch = cheltuielile aferente cifrei de
afaceri
4.

$QDOL]D

IDFWRULDO

,QWHUSUHWDUHD HFRQRPLF

UDWHL

UHQWDELOLW

LL

UHVXUVHORU

FRQVXPDWH

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nr. 1.
5. Ce este pragul de rentabilitate?
6. Ce sunt soldurile intermediare de gestiune?
7. Care sunt elementele componente ale rezultatului brut al
?

H[HUFL LXOXL

8.
WLSXUL

GH

VH GHWHUPLQH LQIOXHQ D VWUXFWXULL YHQLWXULORU GLQ H[SORDWDUH SH

DFWLYLW

DVXSUD

pentru gi = - x mil lei.

9.

VH VWDELOHDVF

UH]XOWDWXOXL H[SORDW ULL

LQIOXHQ D YROXPXOXL IL]LF DO SURGXF LHL YkQGXWH

DVXSUD SURILWXOXL DIHUHQW FLIUHL GH DIDFHUL L V

Iq < 100.

,QWHUSUHWDUH HFRQRPLF

VH LQWHUSUHWH]H FD]XO SHQWUX

10. $QDOL]D
rezultatelor.

9.
10.
11.
12.

LL HFRQRPLFH ,QWHUSUHWDUHD

Indicatori

Simbol

Cheltuieli aferente cifrei de afaceri (mil lei)

Cheltuieli aferente cifrei de afaceri
(mil lei)
Venituri totale (mil lei)
Capital propriu (mil lei)
Profit net
Profit brut

11.

recalculate

VH UHDOL]H]H DQDOL]D IDFWRULDO

P1

30500
10
38125
22875
15250
3050
8
27450

36000
34400
12
48000
26400
21600
4320
9
31680

q1c0

29800

Vt
Kp
Pn
Pb

Active totale: din care (mil lei)

Active imobilizate (mil lei)
Active circulante (mil lei)

P0

qp
q1p0
Rc
AT
AI
AC
RE
Re
qc

Cifra de afaceri (-TVA) (mil lei)

o l ms s f
Ct f!g nq!g!j hk AR AqRqu p
r k f k
o !f jh Xm l 2 RIs jwhji R k jep
h
k h vf k hiuf

8.

D UDWHL UHQWDELOLW

o l h f m g
4t f !g2RXs!j hk AR AqRqu p
r k f k
o !f jh nm l R jRg !#qAR!g!q!e2 
h k h i h g f f f d

Nr.
crt.
1.
2.
3.
4.
4.1.
4.2.
5.
6.
7.

IDFWRULDO

42500
27450
3900
5200

50600
35520
5700
7600

D UDWHL UHQWDELOLW

LL ILQDQFLDUH

XWLOL]kQG GDWHOH GLQ WDEHOXO GH OD DSOLFD LD  ,QWHUSUHWDUHD HFRQRPLF

rezultatelor.
12. &H HYLGHQ LD]
13.

tiplicare a capitalului propriu?

VH GHWHUPLQH LQIOXHQ D VWUXFWXULL SURGXF LHL YkQGXWH DVXSUD

UDWHL UHQWDELOLW

LL HFRQRPLFH L V

14. &H HYLGHQ LD]

15. 6

IDFWRUXO GH PXO

VH LQWHUSUHWH]H FD]XO

UDWD UHQWDELOLW

gi = - x %.

LL HFRQRPLFH 5H "

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DVXSUD SURILWXOXL DIHUHQW FLIUHL GH DIDFHUL L V

D PXQFLL

VH LQWHUSUHWH]H FD]XO LQIOXHQ HL

cu semnul .
16. 6 VH LQWHUSUHWH]H
ICA = 110%
unde:
ICh = 111%
Iq = 102%
17.

GHWHUPLQ

"

&H

HVWH

H[FHGHQWXO

CA = cifra de afaceri
Ch = cheltuieli aferente cifrei de afaceri
q
YROXPXO IL]LF DO SURGXF LHL YkQGXWH
EUXW

DO

H[SORDW ULL

(%(

18. 6 VH LQWHUSUHWH]H FD]XO

IMC = 112%
n
0&
PDUM FRPHUFLDO
care:
ICA = 115%
CA = cifra de afaceri

FXP

VH

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LL SRW IL LQYHVWLJDWH L SH ED]D

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OHJ WXU
GRX

FX DQDOL]D VLWXD LHL ILQDQFLDUH SH ED]D ELODQ XOXL FRQWDELO H[LVW

vQV

WHRULL IXQGDPHQWDOH

WHRULD ELODQ XOXL SDWULPRQLDO

lichiditate-H[LJLELOLWDWH QXPLW
SDWULPRQLDO 

DFHDVW

LQVROYDELOLWDWH

DO

(financiar),
vQ SUDFWLFD

WHRULD

DQDOL]

vQWUHSULQGHULL

ELODQ XOXL

UHSUH]LQW

GH WHU L

IXQF LRQDO

HQWLWDWH

DQDOL]D

, analiza
SXQH
vQ
HYLGHQ
ULVFXO
de
DGLF
LQFDSDFLWDWHD ILUPHL GH D-L

RQRUD DQJDMDPHQWHOH DVXPDWH ID

FDUH DUH OD ED]

ULORU RFFLGHQWDOH

HFRQRPLF

FRQIRUP
L

F UHLD

ILQDQFLDU

vQWUHSULQGHUHD

DVLJXUkQG

UHDOL]DUHD

anumitor fuQF LL FXP DU IL IXQF LD GH SURGXF LH IXQF LD GH LQYHVWLUH L

dezinvestire, prHFXP L IXQF LD GH ILQDQ DUH
%LODQ XO

SDWULPRQLDO

SUH]LQW

DF LRQDUL FDUH VXQW LQWHUHVD L V

(pentru cDUH
SDVLY GXS

FXQRDVF

SDWULPRQLXO UHSUH]LQW

ORU $FHVW WLS GH ELODQ

LPSRUWDQ

GHRVHELW

SHQWUX

YDORDUHD DYHULL ORU L FUHGLWRUL

R JDUDQ LH SHQWUX UHDOL]DUHD GUHSWXULORU

VH RE LQH vQ XUPD UHJUXS ULL SRVWXULORU GH DFWLY L GH

FULWHULLOH GH OLFKLGLWDWH L H[LJLELOLWDWH

1. &RUHF LL UHIHULWRDUH OD DFWLYXO ELODQ XOXL

a) Activul imobilizat VH GLPLQXHD] FX YDORDUHD DFWLYHORU LPRELOL]DWH
fictive sau nonvalori (principalele active de natura nonvalorilor sau
fictive: cheltuielile de constituire, cheltuielile de repartizat asupra
H[HUFL LLORU
ILQDQFLDUH
YLLWRDUH
SULPHOH
SHQWUX
UDmbursarea
REOLJD LXQLORU GHELWRULL GLQ FDSLWDOul VXEVFULV L QHY UVDW GLIHUHQ Hle
de conversie de activ etc.), elemente care din punct de vedere al
OLFKLGLW

LL QX DX QLFL R YDORDUH GHRDUHFH QX GDX QDWHUH XQXL IOX[ GH

numerar.
De asemenea, activului imRELOL]DW

VH PDMRUHD]

FX SDUWHD DFWLYHORU

FLUFXODQWH FX WHUPHQ GH OLFKLGLWDWH !  DQ 'H H[HPSOX GDF

FOLHQ L VDX FOLHQ L

OD UXEULFD UHVSHFWLY

L WUDQVIHUDWH vQ JUXSD

b) Activul circulant
DYkQG

H[LVW

FUHDQ H

FUHGLWRUL FX VFDGHQ H !  DQ DFHVWHD YRU IL HOLPLQDWH GH

WHUPHQ

GH

VH

GLPLQXHD]

OLFKLGLWDWH

$FWLY LP

obilizat;

FX


YDORDUHD

DQ

VH

DFWLYHORU

PDMRUHD]

LPRELOL] ULORU ILQDQFLDUH FX WHUPHQ GH OLFKLGLWDWH   DQ

FLUFXODQWH

FX

etc.

YDORDUHD

2.

&RUHF LL UHIHULWRDUH OD SDVLYXO ELODQ XOXL

a) Capitalurile permanente VH GLPLQXHD] FX YDORDUHD DFWLYHORU

fictive (cheltuielile de constituire, debitorii din capitalul subscris
L QHY UVDW FKHOWXLHOLOH GH UHSDUWL]DW DVXSUD H[HUFL LLORU ILQDQFLDUH
YLLWRDUH L GLIHUHQ HOH GH FRQYHUVLH DFWLY VH VFDG GLQ FD

pitalurile

SURSULL LDU SULPHOH SULYLQG UDPEXUVDUHD REOLJD LXQLORU VH VFDG GLQ

vPSUXPXWXULOH L GDWRULLOH DVLPLODWH SH WHUPHQ PHGLX L OXQJ  L
FX GLYLGHQGHOH GH SODW  GH DVHPHQHD DFHVWHD VH PDMRUHD]

FX

veniturile nregistrate n avans (apar innd grupei Conturi de

UHJXODUL]DUH L DVLPLODWH Pasiv din bilan ul contabil) cu termen
GH H[LJLELOLWDWH !  DQ L FX GLIHUHQ HOH GH FRQYHUVLH SDVLY DFHVWHD
ILLQG FRQVLGHUDWH SURILW SRWHQ LDO

b) Datoriile cu scadenta < 1 an LQFOXG REOLJD LLOH QHILQDQFLDUH L

finDQFLDUH FUHGLWHORU EDQFDUH FXUHQWH $FHVWHD VH PDMRUHD] FX
SURYL]LRDQHOH

SHQWUX

ULVFXUL

FKHOWXLHOL

FX

WHUPHQ

GH

H[LJLELOLWDWH   DQ GLYLGHQGHOH GH SODW  YHQLWXULOH FRQVWDWDWH vQ

DYDQV GLQ JUXSD &RQWXUL GH UHJXODUL]DUH L DVLPLODWH

din

ELODQ XO

FRQWDELO

DYkQG

SUHFXP L FX GDWRULD ILVFDO

LQYHVWL LL

SURYL]LRDQHORU

WHUPHQ

GH

H[LJLELOLWDWH

ODWHQW  DIHUHQW

UHJOHPHQWDWH

Pasiv


SURYL]LRDQHORU

SHQWUX

ULVFXUL L FKHOWXLHOL SUHFXP L DOWRU HOHPHQWH GH FDSLWDOXUL SURS

Q

XUPD

SDWULPRQLDO

permanente

YD

FRUHF LLORU
FRQ LQH

HOHPHQWHOH

vQ
FHOH

PHQ LRQDWH
SDUWHD
PDL

GH

PDL
DFWLY

SX LQ

VXV

ELODQ XO

QHYRL

OLFKLGH

DQ

VXEYHQ LLORU SHQWUX

VDX

vQWUHEXLQ

DGLF

rii;

ILQDQFLDU
UL

LPRELOL] ULOH

QHFRUSRUDOH FRUSRUDOH L ILQDQFLDUH

, L QHYRL L vQWUHEXLQ UL WHPSRUDUH, n

care se includ activele circulante care au un grad de lichiditate mult mai
PDUH GHFkW LPRELOL] ULOH 3DUWHD GH SDVLY YD IL IRUPDW
GLQ resurse sau
capitaluri permanente DGLF
FDSLWDOXULOH
SURSULL
UHLQYHQVWLUL
DOH
DFXPXO ULORU DQWHULRDUH UH]HUYH SURILW QHUHSDUWL]DW L FDSLWDOXULle din surse
SXEOLFH VXEYHQ LL SURYL]LRDQH UHJOHPHQWDWH), SUHFXP L GDWRULLOH SH WHUPHQ
PHGLX L OXQJ FX VFDGHQ
PDL PDUH GH XQ DQ L GH DVHPHQHD GLQ resurse
temporare, DGLF GDWRULLOH FX VFDGHQ PDL PLF GH XQ DQ 3UHOXFUDUHD
GDWHORU GLQ ELODQ XO FRQWDELO YD GHWHUPLQD XUP WRDUHD VWUXFWXU

D ELODQ XOXL

financiar (fig.5.1).
/XkQG vQ FRQVLGHUDUH XQ DQXPLW HFKLOLEUX FDUH WUHEXLH V
GXUDWD

XQHL

RSHUD LL

GH

ILQDQ DW

GXUDWD

PLMORDFHORU

FRUHVSXQ] WRDUH ELODQ XO ILQDQFLDU SXQH vQ HYLGHQ

DOH ILQDQ

GRX

H[LVWH vQWUH

GH

ILQDQ DUH

UHJXOL SULQFLSDOH

ULL UHVSHFWLY QHYRLOH SHUPDQHQWH GH ILQDQ DUH YRU IL DFRSHULWH GLQ

capitaluri permanente, ndeosebi din capitaluri proprii, iar nevoile temporare

YRU

IL

ILQDQ DWH

, n special din resurse temporare. Nerespectarea acestor

UHJXOL GH ILQDQ DUH YD GHWHUPLQD R VLWXD LH GH GH]HFKLOLEUX ILQDQFLDU

NEVOI = ACTIV
Activ imobilizat net ( > 1 an )
- LPRELOL] UL QHFRUSRUDOH
- LPRELOL] UL FRUSRUDOH
- LPRELOL] UL ILQDnciare > 1 an
- crean e > 1 an

RESURSE = PASIV
Capitaluri permanente
- capital social
- rezerve
- VXEYHQ LL
- rezultat nerepartizat
- provizioane > 1 an
- GDWRULL SH WHUPHQ PHGLX L OXQJ
(> 1 an)
Datorii pe termen scurt (< 1 an)
- financiare (credite bancare curente)
- nefinanciare
Provizioane < 1 an

Activ circulant net (< 1 an)

- stocuri
- FUHDQ H FOLHQ L   DQ
- GLVSRQLELOLW L
- LPRELOL] ri financiare < 1 an
)LJ  %LODQ

ILQDQFLDU SDWULPRQLDO

Exemplu:
7DEHOXO

GH

PDL

MRV

VLQWHWL]HD]

31 Dec DQXO 1 VWDELOLW

5HDOL]D L FRQYHUVLD ELODQ

VLWXD LD

SDWULPRQLXOXL

vQWUHSULQGHULL

OD

SH ED]D ELODQ XOXL FRQWDELO

FRQWDELO

ELODQ

SDWULPRQLDO ILQDQFLDU

Tabelul. 5.2
%,/$1

&217$%,/ 1&+(,$7 /$  DQXO 1

= mil lei =
ACTIV
,PRELOL] UL QHFRUSRUDOH
,PRELOL] UL FRUSRUDOH
,PRELOL] UL ILQDQFLDUH  

PASIV




83.300
63.700

&OLHQ L



$OWH FUHDQ H SH WHUPHQ VFXUW

Titluri de plasament
'LVSRQLELOLW



11.750
650

TOTAL ACTIVE
CIRCULANTE
148.230
Cheltuieli nregistrate n avans
3.500
CONTURI DE REGULARIZARE
, $6,0,/$7(
3.500
TOTAL ACTIV
235.030

68.500
34.600

5H]XOWDWXO H[HUFL LXOXL   

6XEYHQ LL SHQWUX LQYHVWL LL

TOTAL ACTIVE
IMOBILIZATE
Stocuri
 

Capital social
Rezerve

TOTAL CAPITAL
PROPRIU
Provizioane pentru
ULVFXUL L FKHOWXLHOL

Credite bancare (****)

Furnizori



116.510


44.600
40.220

Alte datorii pe termen scurt

29.500
TOTAL DATORII
114.320

TOTAL PASIV

235.030

*
din care < 1 an = 27 mil. lei;
** din care > 1 an = 15.200 mil. lei;
*** din care: 8.410 mil. lei pentru fonduri proprii si 3.600 mil. lei pentru
dividende.
**** din care credite bancare curente 14.000 mil. lei.
Not : VH FRQVLGHU F toate cheltuielile nregistrate n avans au termen de
lichiditate < 1 an.
Rezolvare (vezi tabelul 5.3):
1.

&RUHF LL UHIHULWRDUH OD DFWLYXO ELODQ XOXL

LPRELOL] ULOH

ILQDQFLDUH GH 

LPRELOL] ULORU

DQ
R



PLO

LPRELOL] U



PLO

DQ

VH

GLPLQXD FX YDORDUHD

YRU

PDMRUD

OHL


VH

YD

PLO

FX

YDORDUHD

i financiare de 15.223 mil. lei;

GH

FDUH

FOLHQ LORU

OLFKLGLWDWH

OHL

FOLHQ LORU
YDORDUHD

DX

PLO OHL VH YRU

OHL

GLPLQXD

, rezultnd

FX

YDORDUHD

clien ilor cu: termen de lichiGLWDWH !  DQ   PLO OHL  L VH YD

majora cu valoarea LPRELOL] ULORU ILQDQFLDUH   DQ   PLO OHL  L FX
valoarea cheltuielilor nregistrate n avans ( 3.500 mil lei ), rezultnd
un sold al clien ilor < 1 an de 58.827 mil. lei;
2.

&RUHF LL UHIHULWRDUH OD SDVLYXO ELODQ XOXL 

capitalul social se va majora cu 8.410 mil. lei reprezentnd profit net

repartizat pentru constituirea fondurilor proprii, ajungnd astfel la
valoarea de 79.910 mil. lei;
GDWRULLOH ILQDQFLDUH SH WHUPHQ OXQJ UHSUH]LQW 00 mil. lei, deoarece
din suma total a creditelor bancare de 44.600 mil. lei , creditele
bancare curente au o valoare de 14.000 mil. lei.
GDWRULLOH

ILQDQFLDUH

SH

WHUPHQ

VFXUW

dividentelor datorate ( 3.600 mil. lei ).

VH

PDMRUHD]

FX

YDORDUHD

Tabelul 5.3
%,/$1

3$75,021

IAL (FINANCIAR) NCHEIAT LA 31.12 anul N

= mil.lei =

ACTIV
Nevoi permanente

83.050

PASIV
Capitaluri permanente
Capitaluri proprii
Proviz. pt. Riscuri



L FKHOWXLHOL

98.473

,PRELOL] UL QHFRUSRUDOH
,PRELOL] UL



corporale

,PRELOL] UL ILQDQFLDUH

Nevoi temporare
Stocuri


L L

titluri de plasament
TOTAL ACTIV

12.400
235.030

%LODQ XO IXQF LRQDO RIHU



DaWRULL SH WHUP PHGLX L OXQJ

Resurse temporare
Datorii furnizori
Dividende datorate
Alte datorii pe termen scurt
Credite curente
TOTAL PASIV

136.557
63.700

&UHDQ H
'LVSRQLELOLW

147.710
112.910


87.320
40.220
3.600
29.500
14.000
235.030

R LPDJLQH DVXSUD PRGXOXL GH IXQF LRQDUH

GLQ SXQFW GH YHGHUH HFRQRPLF D vQWUHSULQGHULL HYLGHQ LLQG DWkW XWLOL]

L

VXUVHOH

FRUHVSXQ] WRDUH

ILHF UXL

FLFOX

UHVSHFWLY

GH

rile ct

LQYHVWL LL

GH

H[SORDWDUH L FHO GH ILQDQ DUH L WUH]RUHULH

&LFOXO

GH

LQYHVWL LL

$VWIHO LPRELOL] ULOH

DORF

UL VWDELOH DFLFOLFH

durabile (aciclice)

FXSULQGH

DFKL]L LRQDUHD

GH

DFWLYH

LPRELOL]DWH

UHJUXSDWH SULQ IXQF LD GH LQYHVWL LH FRQVWLWXLH

FDUH VXQW ILQDQ DWH vQ PRG QHFHVDU GLQ

nevoi
resursele

H[LVWHQWH vQ SDVLYXO ELODQ XOXL $FWLYHOH FLUFXODQWH FkW L

UHVXUVHOH SHQWUX ILQDQ DUHD ORU VXQW FRQVLGHUDWH FLFOLFH GHRDUHFH UHFXSHUDUHD

capitaluriloU DORFDWH L UHvQQRLUHD VXUVHORU VH IDFH

ciclu de exploatare.
Ciclul de exploatare FXSULQGH IOX[XULOH GH
L GLVWULEX LH YkQ] UL DWkW VXE IRUP

Posturile de activ legatH

GXS

vQFKHLHUHD ILHF

rui

DSURYL]LRQDUH SURGXF LH

GH IOX[XUL IL]LFH FkW L ILQDQFLDUH

GLUHFW GH RSHUD LLOH FLFOXOXL GH H[SORDWDUH VWRFXUL

FUHDQ H FOLHQ L FKHOWXLHOL GH H[SORDWDUH FRQVWDWDWH vQ DYDQV

etc.) constituie
active circulante de exploatare, FDUH vQ PRG ILUHVF WUHEXLH ILQDQ DWH GLQ
datoriile de exploatare GDWRULL IXUQL]RUL L asimilate, venituri din exploatare
constatate n avans etc. &HOHODOWH SRVWXUL GH DFWLY L SDVLY FDUH UHIOHFW
RSHUD LXQL
H[SORDW ULL

trezorerie.

GLYHUVH
L

VXQW

GDWRULL

vQ

UHJUXSDWH
DIDUD

vQ

FDWHJRULLOH

H[SORDW ULL

DFWLY

UHVSHFWLY

FLUFXODQW

DFWLYXO

vQ

SDVL

DIDUD

vul de

Ciclul

GH

ILQDQ DUH

VH

UHIHU

OD

DQVDPEOXO

RSHUD LXQLORU

GLQWUH

vQWUHSULQGHUH L SURSULHWDULL GH FDSLWDO DF LRQDULL L FUHGLWRULL vQWUHSULQGHULL

Acesta regUXSHD] SRVWXULOH

indiferent de scaden D ORU LDU

GH

FDSLWDOXUL

SURSULL

GDWRULL

ILQDQFLDUH

DVLPLODWH VXUVHORU SURSULL )OX[XO GH ILQDQ DUH SHUPLWH vQWUHSULQGHULL V

ID

GHFDODMXOXL GLQWUH OLFKLGLW

ciclul de exploatare.
Lund n coQVLGHUDUH
LQYHVWL LH

HVWH

SODVDW

vQ

SURYL]LRDQHOH SHQWUX ULVFXUL L FKHOWXLHOL VXQW

le

GH LQWUDUH L

cele

IDF

GH LHLUH

, provocat de

VHPQLILFD LLOH DFHVWRU WUHL FLFOXUL IXQF LD GH

SDUWHD

GLQ

VWkQJD

IXQF LD GH ILQDQ DUH SRDWH IL UHSUH]HQWDW

DO ELODQ XOXL IXQF LD GH ILQDQ DUH HVWH

QLYHOXO

GH

VXV

DO

ELODQ XOXL

vQ SDUWHD GLQ GUHDSWD QLYHOXO GH VXV

pozi LRQDW

H[FOXVLY vQ SDUWHD GH MRV

D ELODQ XOXL 

fig. 5.4).

3ULQFLSLL FDUH VWDX OD ED]D vQWRFPLULL ELODQ XOXL IXQF LRQDO

a)

DFWLYHOH VXQW OXDWH vQ FDOFXO OD YDORDUHD ORU EUXW  DGLF

YDORDUHD

de intrare n patrimoniu, iar n pasiv se iau n considerare

DPRUWL] ULOH UXODMXO FUHGLWRU DO FRQWXOXL  L SURYL]LRDQHOH

b)

LPRELOL] ULOH
JHVWLXQH

vQFKLULDWH

VXQW

vQWHJUDWH

GH LQXWH

vQ

vQ

DFWLY

OHDVLQJ

VDX

vQ

FRUHVSXQ] WRU

ORFD LH

vQ

GH

SDVLY

PSUXPXWXUL L GDWRULL DVLPLODWH GHRDUHFH HOH VHUYHVF

, la
FLFOXOXi

de exploatare;
c)
d)

FRQFHSWXO GH DFWLY ILFWLY QX PDL HVWH RSHUD LRQDO

FKHOWXLHOLOH
DVLPLOHD]

e)

FDUH

SULYHVF

H[HUFL LLOH

ILQDQFLDUH

YLLWRDUH

VH

DFWLYHORU LPRELOL]DWH

HIHFWHOH VFRQWDWH QHDMXQVH OD VFDGHQ

 GHELWRULL SULYLQG FDSLWDOXO

VXEVFULV L QHY UVDW SULPHOH SULYLQG UDPEXUVDUHD REOLJD LXQLORU L

diIHUHQ HOH GH FRQYHUVLH GH

DFWLY L GH SDVLY VH WUDWHD]

vQ DFHODL

PRG FD L OD HODERUDUHD ELODQ XOXL SDWULPRQLDO

f)

DPRUWL]DUHD
IXQF LRQDO

SURYL]LRDQHOH

VXQW

LQFOXVH

FD VXUVH DFLFOLFH FDUH U PkQ OD

perioada mai mare de un an).

M. Niculescu/ Diagnostic global strategic/ Editura E

$ " "
%#!   
    

vQ

SDVLYXO

GLVSR]L LD

ELODQ XOXL
ILUPHL R

'LQ SHUVSHFWLYD ELODQ XOXL IXQF LRQDO UHDOL]DUHD HFKLOLEUXOXL ILQDQFLDU

DO vQWUHSULQGHULL QX SUHVXSXQH GRDU H[LVWHQ D XQXL IRQG GH UXOPHQW SR]LWLY FL

a unui fond de rulment acoperitor nevoilor de finantare ale ciclului de

H[SORDWDUH VWRFXUL  FUHDQ H GH H[SORatare datorii de exploatare).
5ROXO ELODQ XOXL IXQF LRQDO vQ DQDOL]D ILQDQFLDU
SHUPLWH
UHIOHFWDW

DSUHFLHUHD

YXOQHUDELOLW

LL

VWUXFWXULL

GH HYROX LD WUH]RUHULHL QHWH

VWUXFWXUD ILQDQFLDU

HVWH QX QXPDL GH D

ILQDQFLDUH

vQWUHSULQGHULL

GDU L GH D H[SULPD FRUHOD LD GLQWUH

D ILUPHL L QDWXUD DFWLYLW

NEVOI = ACTIV
NEVOI ACICLICE ( STABILE )
- Activ imobilizat (brut)

SURSE = PASIV
SURSE ACICLICE (DURABILE)
- capitaluri proprii
- DPRUWL] UL L SURYL]LRDQH
- datorii financiare
SURSE CICLICE
- Datorii de exploatare
- 'DWRULL vQ DIDUD H[SORDW ULL
- Pasiv de trezorerie

NEVOI CICLICE
- Activ circulant de exploatare (brut)
- $FWLY FLUFXODQW vQ DIDUD H[SORDW ULL EUXW
- Active de trezorerie
)LJ  %LODQ

LL VDOH

IXQF LRQDO

5.2.2 Analiza patrimoniului net

3DWULPRQLXO UHSUH]LQW

WRWDOLWDWHD GUHSWXULORU L REOLJD LLORU FH SRW IL

H[SULPDWH vQ EDQL DSDU LQkQG XQHL SHUVRDQH IL]LFH VDX MXULGLFH DOH F URU
QHYRL

OH

VDWLVIDF

vQWUHSULQGHUL

SUHFXP

SDWULPRQLXO

L
VH

EXQXULOH
GHILQHWH

OD

FDUH

FD

VH

ILLQG

UHIHU 
DFWLYHOH

FD]XO

XQHL

vQWUHSULQGHULL

negrevate de datorii, VDX DYHUHD DF LRQDULORU VWDELOLW SH ED]D ELODQ XOXL

patrimonial2.
Patrimoniul net sau activul net contabil se poate determina astfel:
1. FD GLIHUHQ GLQWUH DFWLYXO WRWDO L GDWRULLOH WRWDOH H[SULPDUH
materiala a patrimoniului net);
2. FD VXP D HOHPHQWHORU FDSLWDOXOXL SURSULX
3DWULPRQLXO QHW HVWH vQ PRG QRUPDO SR]LWLY L FUHVF WRU FD XUPDUH D
XQHL

JHVWLXQLL

V Q WRDVH

$FHDVW

VLWXD LH

UHIOHFW

GH

IDSW

DWLQJHUHD

RELHFWLYXOXL PDMRU DO ILUPHL L DQXPH PD[LPL]DUHD YDORULL SDWULPRQLDOH D

acesteia.
2

V. Robu si N. Georgescu/ Analiza economico-financiara/ Editura OMNIA UNI S.A.S.T. S.R.L./Brasov 2000

Avnd n vedere prima modalitate de calcul a patrimoniului net,

FUHWHUHD

DFHVWXLD

devansea]

VH

vQUHJLVWUHD]

DWXQFL

FkQG

ULWPXO

DFWLYHORU

WRWDOH

ULWPXO GDWRULLORU WRWDOH

$QDOL]kQG HOHPHQWHOH FDSLWDOXOXL SURSULX vQ SUDFWLFD HFRQRPLF

SRW

VLWXD LL

vQWkOQL

vQ

FDUH

GLQDPLFD

FHD

VXUVHOH FRQVWLWXLWH SH VHDPD UHQWDELOLW

proprii etc.

&DSLWDOXO

VRFLDO

VH

PDL

DFFHQWXDW

VH

vQUHJLVWUHD]

LL ILUPHL UH]HUYHOH OHJDOH IRQGXULOH

PRGLILF

SULQ

QRL

DSRUWXUL

DOH

YHFKLORU

DF LRQDUL VDX DOH XQRUD QRL L VDX SULQ FRQYHUVLD XQRU GDWRULL vQ FDSLWDO
VRFLDO

VWLQJHUHD

XQRU

GDWRULL

vQ

VFKLPEXO

asemenea, rezultatul reportat poate fi pURILW

FUHWHUHD

SDWULPRQLXOXL

QHW

VDX

XQXL

SDFKHW

GH

DF LXQL

'H

QHUHSDUWL]DW FHHD FH GHWHUPLQ

SLHUGHUH

QHDFRSHULW

FD]

vQ

FDUH

patrimoniul va fi diminuat).
Q FRQVHFLQ

 SDWULPRQLXO QHW SRDWH V

FUHDVF

SH VHDPD VXUVHORU

LQWHUQH UHQWDELOLWDWHD vQWUHSULQGHULL L SH ED]D XQRU

surse externe (aporturi,

primirea cu titlu gratuit a unor active, conversia unor datorii n capital social
etc.).

 $QDOL]D FRUHOD LHL GLQWUH IRQGXO GH UXOPHQW QHYRLD GH IRQG

GH UXOPHQW L WUH]RUHULD QHW

Fondul de rulment
XWLOL]DW

UHSUH]LQW

SDUWHD

GLQ

SHQWUX ILQDQ DUHD DFWLYHORU FLUFXODQWH LPSXV

FD

pitalul permanent

GH GLIHUHQ HOH GLQWUH

VXPHOH GH vQFDVDW L VXPHOH GH SO WLW SUHFXP L GH GHFDODMXO GLQWUH WHUPHQXO

PHGLX GH WUDQVIRUPDUH D DFWLYHORU FLUFXODQWH vQ OLFKLGLW

L L GXUDWD PHGLH vQ

care datoriile pe termen scurt devin exigibile.

0RGDOLW

1. Conform
astfel :

L GH FDOFXO D IRQGXOXL GH UXOPHQW

, fondul de rulment se poate calcula

FRQFHS LHL SDWULPRQLDOH

a) FR = Capital permanent Active imobilizate ;

Fondul de rulment poate fi descompus n fond de rulment propriu
(FRp) L mprumutat (FRi):
FR = FRp + FRi
FRp = Capitaluri proprii Active imobilizate
FRi 'DWRULL SH WHUPHQ PHGLX L OXQJ

b)

FR = Active circulante Datorii pe termen scurt

Q

DFHDVW

VLWXD LH

IRQGXO

GH

UXOPHQW

UHIOHFW

FRUHOD LD

GLQWUH

OLFKLGLWDWHD DFWLYHORU FLUFXODQWH L H[LJLELOLWDWHD GDWRULLORU SH WHUPHQ VFXUW

$FHVWD SUH]LQW
GRX

S U L

DOH

R YDORDUH LQIRUPDWLY
ELODQ XOXL

ULGLFDW  DVLJXUkQG OHJDWXUD GLQWUH FHOH

ILQDQFLDU

&D XUPDUH fondul de rulment este

considerat ca fiind cel mai important indicator al echilibrului financiar
lichiditate exigibilitate, care permite aprecierea pe termen scurt a riscului
GH LQFDSDFLWDWH GH SODW 

2.

Potrivit FRQFHS LHL IXQF LRQDOH IRQGXO GH UXOPHQW IXQF LRnal sau fondul
GH UXOPHQW QHW JOREDO )5*1 VH GHWHUPLQ

DVWIHO

a) FRNG = Surse aciclice Active aciclice

)RQGXO GH UXOPHQW QHW JOREDO UHIOHFW

VXUSOXVXO UHVXUVHORU GXUDELOH vQ

raport cu valorile imobilizate.

b) FRNG = ( Nevoi ciclice + Nevoi de trezorerie ) ( Resurse ciclice +
Resurse de trezorerie ) = ( Active circulante de exploatare + Active
circulante n afara exploat rii + Disponibilit i) (Datorii de
exploatare + Datorii n afar exploat rii + Credite bancare de
trezorerie)
Lund n considerare foUPXOD

GH FDOFXO GH PDL VXV GDF

UXOPHQW HVWH SR]LWLY VDX QHJDWLY ILUPD DUH OLFKLGLW

REOLJDW

IRQGXO GH

L VDX GLPSRWULY

este

DQJDMH]H QRL FUHGLWH SHQWUX ILQDQ DUHD QHYRLORU GH H[SORDWDUH

UHSUH]LQW

Nevoia de fond de rulment

WHPSRUDUH
GHFDODMHORU

VXUVHOH

FDUH

VH

WHPSRUDUH

SURGXF

vQ

UHVSHFWLY

WLPS

vQWUH

GLIHUHQ D
VXPD

IOX[XULOH

GLQWUH

QHFHVDU
UHDOH

QHYRLOH
ULL

IOX[XULOH

ILQDQ

GH

trezorerie determinate n special de activitatea de exploatare.

a) Pe baza bilan ului patrimonial, aceasta se stabilete astfel:
NFR = (Active circulante 'LVSRQLELOLW L E QHWL (Datoriile pe termen
scurt Creditele pe termen scurt) = (Active circulante 'LVSRQLELOLW L
E QHWL 2EOLJD LL SH WHUPHQ VFXUW
sau: NFR = (Stocuri + Crean e) Credite pe termen scurt
1HYRLD GH IRQG GH UXOPHQW VHPQLILF

vQ HVHQ

, activele circulante de

QDWXUD VWRFXULORU L D FUHDQ HORU QHILQDQ DWH SH VHDPD REOLJD LLORU SH WHUPHQ
VFXUW

VXUVHORU

DWUDVH

2EOLJD LLOH

SH

WHUPHQ

VFXUW

GH

QDWXU

FHORU

ID

GH

IXUQL]RUL

UHSUH]LQW

VDODULD L

R VXUV

b) Pe baza
astfel:

DWUDV

EXJH

tul de stat etc.

SkQ

vQ

PRPHQWXO

SO

LL

ORU

GH ILQDQ DUH D DFWLYHORU FLUFXODQWH

ELODQ XOXL IXQF LRQDO

QHYRLD GH IRQG GH UXOPHQW VH GHWHUPLQ

NFR = Nevoi ciclice Resurse ciclice

n acest caz, nevoia

GH

IRQG

GH

UXOPHQW

HVWH

IRUPDW

GLQ

SDUWHD

SHQWUX H[SORDWDUH 1)5( L FHD vQ DIDUD H[SORDW ULL 1)5$(

NFR
NFRE

NFRE + NFRAE

$FWLYH FLFOLFH DIHUHQWH H[SORDW ULL

Surse ciclice aferente

H[SORDW ULL

NFRAE =

$FWLYH

FLFOLFH

GLQ

DIDUD

H[SORDW ULL

Surse ciclice din afara

H[SORDW ULL
0 ULPHD QHYRL GH IRQG GH UXOPHQW GLQ H[SORDWDUH HVWH LQIOXHQ DW
QDWXUD DFWLYLW

LL GXUDWD FLFOXOXL GH IDEULFD LH YLWH]D GH URWD LH D VWRFXULORU L

FUHDQ HORU QLYHOXO GH DFWLYLWDWH

'DF
IL

QRUPDO

GH

etc.

QHYRLD GH IRQG GH UXOPHQW HVWH SR]LWLY  VLWXD LD VH FRQVLGHU

QXPDL

GDF

HVWH

UH]XOWDWXO

XQHL

SROLWLFL

GH

LQYHVWL LL

SULYLQG

FUHWHUHD QHYRLL GH ILQDQ DUH D FLFOXOXL GH H[SORDWDUH $OWIHO DFHDVWD UHIOHFW

XQ

GHFDODM

QHIDYRUDELO

vQWUH

OLFKLGLWDWHD

exigibilitatea datoriilor de exploatare.

'DF
GLPSRWULY , QHYRLD GH IRQG
VHPQLILF

VWRFXULORU

FUHDQ HORU

GH UXOPHQW HVWH QHJDWLY

, aceasta

XQ VXUSOXV GH UHVXUVH WHPSRUDUH FRPSDUDWLY FX QHYRLOH WHPSRUDUH

VLWXD LD ILLQG IDYRUDELO

GRDU GDF

HVWH UH]XOWDWXO DFFHOHU ULL URWD LHL DFWLYHORU

FLUFXODQWH L DOH DQJDM ULL GH GDWRULL FX VFDGHQ H PDL PDUL Q FD] FRQWUDU
VLWXD LD HVWH QHJDWLY

GHRDUHFH HVWH GHWHUPLQDW

GH vQWUHUXSHUL WHPSRUDUH vQ

DSURYL]LRQDUHD L UHvQQRLUHD VWRFXULORU VDX vQ DFWLYLWDWHD GH SURGXF LH

TrezoUHULD QHW

H[SULP

FRUHOD LD GLQWUH IRQGXO GH UXOPHQW L QHYRLD

GH IRQG GH UXOPHQW UHIOHFWkQG VLWXD LD ILQDQFLDU

D ILUPHL DWkW SH WHUPHQ

PHGLX L OXQJ FkW L SH WHUPHQ VFXUW

a) Pe baza

ELODQ XOXL SDWULPRQLDO

XUP WRDUHD IRUPXO 

TN = FR - NFR

(financiar),

DFHDVWD VH FDOFXOHD]

FX

b)

7UH]RUHULD QHW

VH SRDWH FDOFXOD SH ED]D ELODQ XOXL IXQF LRQDO

astfel:

TN = FRNG NFR
sau
TN = TA TP
TA = trezoreria de activ, respectiv soldurile debitoare ale conturilor de
GLVSRQLELOLW

L L SODVDPHQWH

TP = trezoreria de pasiv, respectiv soldurile creditoare ale conturilor de

credite pe termen scurt.
7UH]RUHULD
H[HUFL LXOXL

QHW

ILQDQFLDU

SR]LWLY
L

GDF

VHPQLILF

DFH VWD

H[HUFL LL ILQDQFLDUH VXFFHVLYH DFHDVW

HFRQRPLF

ULGLFDW

VH

SRVLELOLWDWHD

un excedent monetar al

PHQ LQH

HVWH

UHQWDELOH

FRQVWDQW

, DWXQFL WUH]RUHULD QHW

profitului net, diminuat cu dividendHOH SO WLWH vQ
care se adun amortizarea.
'DF

vQ

FDOFXOXO

considerare creGLWHOH

QHYRLL

FDGUXO

VLWXD LH GHPRQVWUHD]
SODV ULL

E QHWL SHQWUX vQW ULUHD SR]L LHL ILUPHL SH SLD

UXOPHQW

vQ

IRQGXOXL

GH

 'DF

PDL

R UHQWDELOLWDWH

GLVSRQLELOLW

este echivalentul

FXUVXO DFHOHDL SHULRDGH OD

UXOPHQW

QX

-au luat n

QHJDWLY

UHIOHFW

GHILFLW PRQHWDU UHVSHFWLY XQ GH]HFKLOLEUX ILQDQFLDU OD VIkULWXO DQXOXL

D IRVW DFRSHULW SH VHDPD FUHGLWHORU SH WHUPHQ VFXUW 'DF

pierderi. TotuL,
GLVSXQH

GH

FUHWHUH

SLD

DWXQFL
GH

QHYRLL

GH

FkQG

DSURYL]LRQDUH
IRQG

GH

QHJDWLY

vQWUHSULQGHUHD
L

UXOPHQW

GH

XQ

, L FDUH

QHYRLD GH IRQG GH

HVWH HIHFWXO vQUHJLVWU ULL GH

UHDOL]HD]

GHVIDFHUH

FD XUPDUH

SURGXVH
GDU

UHQWDELOH

vQUHJLVWUHD]

GH]YROW ULL DFWLYLW

LL

H[LVWHQ D XQHL WUH]RUHULL QHWH QHJDWLYH QX VHPQLILF

ILQDQFLDU

LORU

QHYRLD GH IRQG GH

SR]LWLY

SH WHUPHQ VFXUW WUH]RUHULD QHW

UXOPHQW HVWH FRQVWDQW  WUH]RUHULD QHW

PXOWRU

R VLWXDWLH HFRQRPLFR

QHIDYRUDELO  FL vQUHJLVWUDUHD XQXL GHFDODM vQWUH WHUPHQXO PHGLX GH

WUDQVIRUPDUH

VWRFXULORU

FUHDQ HORU

vQ

OLFKLGLW

GXUDWD

PHGLH

GH

RQRUDUH D REOLJD LLORU SH WHUPHQ VFXUW

Exemplu:
Pe baza datelor din BILAN
3$75,021,$/
),1$1&,$5
NCHEIAT LA 31.12 anul N (tabelul nr. 5.3 UH]XOW XUP WRDUHOH
Determinarea FR, NFR SI TN:
FR = Capitaluri permanente Nevoi permanente = 147.710 98.473 =
= 49.237 mil. lei

sau:
FR = Nevoi temporare Resurse temporare = 136.557 87.320 =
= 49.237 mil. lei
FRp = Capitaluri proprii Nevoi permanente = ( 112.910 + 4.200 )
98.473 = 18.637 mil. lei
FRi = FR FRp = Datoriile pe termen mediu si lung = 30.600 mil. lei
NFR = (Nevoi temporare 'LVSRQLE E QHWL L SODVDPHQte) (Resurse
temporare Credite curente) = (136.557 12.400) (87.320
14.000) = 50.837 mil. lei
TN = FR NFR = 49.237 50.837 = 1.600 mil. lei
Fondul de rulment SR]LWLY  PLO OHL
capitalurilor permanente n raport FX LPRELOL] ULOH SH
H[FHGHQW

FH

YD

IL

XWLOL]DW

SHQWUX

DVHPHQHD ILUPD GLVSXQH L GH XQ

LQGLF

3DUWHD

IDSWXO F

DFWLYHORU

LPRELOL] ULOH
FLUFXODQWH

UHJ VHWH VXE IRUPD

ILQDQ DUHD

LQGLF

H[FHGHQWXO

FDUH OH ILQDQ HD] 

DFWLYHORU

FLUFXODQWH

'H

fond de rulment propriu pozitiv, ceea ce

VXQW ILQDQ DWH LQWHJUDO GH FDSLWDOXULOH proprii.

QHILQDQ DW

GH

GDWRULLOH

SH

WHUPHQ

VFXUW

VH

nevoii de fond de rulment SR]LWLY  PLO OHL

nevoie de fond de rulment SR]LWLY UHIOHFW GHFDODMXO QHIDYRUDELLO
$FHDVW
dintre lichiditatea stocurLORU L FUHDQ HORU SH GH R SDUWH  PLO OHL, L
exigibilitatea datoriilor pe termen scurt (73.320 mil. lei) pe de alt parte.
'DU VH REVHUY
F
fondul de rulment este mai mic dect nevoia de
fond de rulment, deci se nregistreaz o trezorerie net QHJDWLY FDUH LQGLF
XQ

GHILFLW

PRQHWDU

OD

VIkULWXOXL

DQXOXL

GHFL

VLWXD LH

GH

GH]HFKLOLEUX

financiar.
5.2.4 Analiza structurii patrimoniale a ntreprinderii
$QDOL]D VWUXFWXULL SDWULPRQLDOH DUH FD RELHFWLY VWDELOLUHD L XUP ULUHD

HYROX LHL SRQGHULL GLIHULWHORU HOHPHQWH SDWULPRQLDOH GH DFWLY L GH SDVLY

5DWHOH GH VWUXFWXU
SURFHQWH

SDWULPRQLDO

SHUPLWH

RIHU

LGHQWLILFDUHD

SRVLELOLWDWHD H[SULP ULL ELODQ XOXL vQ

FDUDFWHULVWLFLORU

PDMRUH

DOH

VWUXFWXULL

ELODQ XOXL RIHULQG GH DVHPHQHD SRVLELOLWDWHD UHDOL] ULL GH DQDOL]H FRPSDUDWLYH

vQ WLPS L VSD LX

5.2.4.1 Ratele privind structura activului

Ratele de structur a activului, ca valoare, sunt influen ate de
caracteristicele tehnice, economice i juridice ale activit ii firmei.

Principalele rate de caracterizare a structurii activului sunt:

a) Rata activelor imobilizate:
Active imobilizate
100
Total activ
$FHDVW

UDW

UHIOHFW

SRQGHUHD DFWLYHORU LPRELOL]DWH vQ SDWULPRQLXO

total al ntreprinderii. Diferitele elemente de active imobilizate

utilizarea unor rate complementare:
a.1) RDWD LPRELOL]
3 0 2 01(&
) '

Total activ

0 ULPHD

DFHVWXL

100

7 2#419 4%81560#4
@ '
' 7

ULORU QHFRUSRUDOH

MXVWLILF

LQGLFDWRU

UHIOHFW

EUHYHWH OLFHQ H P UFL IRQG FRPHUFLDO

SRQGHUHD

DFWLYHORU

LQWDQJLELOH

etc.) n activele totale ale firmei. n

FD]XO ILUPHORU URPkQHWL  YDORDUHD DFHVWHL UDWH HVWH IRDUWH UHGXV  vQ WLPS FH
vQ DOWH

UL FXP DU IL 68$ SRQGHUHD DFWLYHORU QHFRUSRUDOH GHSDVHWH 

din valoarea de nlocuire a firmelor.

a.2) RDWD LPRELOL]
3 0 2 01(&
) '

Total activ

$FHDVW

UDW

UHIOHFW

corporale:

100

7 @!A'%!0#4
2 4 ' 9 4 8

ULORU

SRQGHUHD FDSLWDOXULORU IL[H vQ SDWULPRQLXO WRWDO

DO ILUPHL L YDORDUHD HL GHSLQGH GH VSHFLILFXO DFWLYLW

LL L GH FDUDFWHULVWLFLOH

tehnice ale ntreprinderii, nregistrnG YDORUL GLIHULWH GH OD R UDPXU OD DOWD

Astfel, aceasta are valori foarte mari n cazul firmelor care folosesc o
LQIUDVWUXFWXU

LPSRUWDQW

GLVWULEX LD

HQHUJLH

GH

VDX

HFKLSDPHQWH

WUDQVSRUWXUL

FRVWLVLWRDUH

SURGXFHUHD

etc.), industria grea sau exploata LLOH

agricole.
6SHFLDOLWLL
VHPQLILF

SHQWUX

vQWUHSULQGHUL

FRPSDUDELOH

DFH VW

FDSDFLWDWHD ILUPHL GH D UH]LVWD XQHL FUL]H HFRQRPLFH WLLQGX

VH IRDUWH ELQH F

R LPRELOL]DUH ULGLFDW

mare al netransIRUP

a.3) RDWD LPRELOL]

I

D FDSLWDOXOXL DWUDJH GXS

ULL DFHVWRUD vQ OLFKLGLW

3 0 2 !B&
0 ) '

Total activ

L

ULORU ILQDQFLDUH

7 4 8 @ D 0
#@ 0%15E5 0 1C4

UDW

DSUHFLD]

100

VLQH XQ ULVF

Aceasta UHIOHFW LQWHQVLWDWHD OHJ WXULORU L UHOD LLORU ILQDQFLDUH SH FDUH

OH-a stabilit cu alte firme cu ocazia operD LLORU GH FUHWHUH
H[WHUQH SDUWLFLSD LL LQYHVWL LL GH SRUWRIROLX FUHGLWH DFRUGDWH etc.). $FHDVW
UDW
DUH YDORUL PDUL vQ FD]XO VRFLHW LORU GH LQYHVWL LL ILQanFLDUH VRFLHW L GH
valori mobiliare, fonduri mutuale etc.. $FHDVWD vQUHJLVWUHD] YDORUL VF ]ute
ILUPD UHVSHFWLY

vQ FD]XO ILUPHORU PLFL FDUH QX SRW HIHFWXD LQYHVWL LL ILQDQFLDUH

a.4) Rata activelor circulante:

Active circulante
Total activ
$FHDVW

UDW

100

UHIOHFW

SRQGHUHD

DFWLYHORU

FLUFXODQWH

vQ

WRWDOXO

mijloacelor economice ale ntreprinderii. Ca rate complementare, se

UHFRPDQG

D IL XWLOL]DWH

a.4.1) Rata stocurilor:

Stocuri
Total activ
$FHVW

LQGLFDWRU

100
vQUHJLVWUHD]

YDORUL

PDUL

vQ

FD]XO

DFWLYLWDWH GH SURGXF LH FX FLFOX OXQJ GH IDEULFD LH SUHFXP L D

ILUPHORU

FX

acelor firme

cX VSHFLILF GH GLVWULEX LH GH EXQXUL PDWHULDOH

a.4.2) RDWD FUHDQ

HORU FRPHUFLDOH

7 @ 2 (& 0%@1CRQ P'%1010

I 0
S 0 4 I 5 8 H

5 2
7 0 GF

Total activ

100

5DWD FUHDQ HORU FRPHUFLDOH HVWH LQIOXHQ DW

WHUPHQXO GH SODW

SH FDUH ILUPD vO DFRUG

a.4.3) RDWD GLVSRQLELOLW

I 0 2 1) !'1CS UT
0 0 5 9 0
DFHODL

)
P0

LORU E

QHWL L D

I 5
R7a%@ R`P!0#RQ 2 I XBR0 C715
& @ S 2 9 7 Y 4
0 W V I H

$SUHFLHUHD
GLVSRQLELOLW

Total activ

DFHVWHL

UDWH

GH QDWXUD FOLHQ LORU L GH

SDUWHQHULORU V L

WUHEXLH

plasamentelor:

100

I FXW

FX

SUHFDX

ie deoarece

LOH SRW VXIHUL PRGLILF UL vQVHPQDWH SH SHULRDGH VFXUWH GH WLPS

WLPS

WUHEXLH

DYXW

vQ

YHGHUH

UDSRUWXO

SODVDPHQWH SUHFXP L GHVWLQD LD SODVDPHQWHORU

GLQWUH

GLVSRQLELOLW

5.2.4.2 Ratele privind structura pasivului

3ULQFLSDOHOH UDWH GH VWUXFWXU

a)

RDWD VWDELOLW

LL ILQDQ

Capital permanent
Total pasiv
$FHDVW

UDW

HVWH

D SDVLYXOXL ELODQ XOXL XWLOL]DWH VXQW

ULL

100

XQ

LQGLFDWRU

JOREDO

DO

VWDELOLW

LL

ILQDQ

ULL

SRQGHUHD VXUVHORU SH FDUH OH DUH vQWUHSULQGHUHD SHQWUX R SHULRDG

UHIOHFW

mai mare de un an, n totalul surselor de acoperire a mijloacelor economice.

b) Rata autonomiei financiare:
Capital propriu

100

Capital permanent

Rata autonomiei financiare

VHPQLILF

SRQGHUHD VXUVH

ILQDQ DUHD PLMORDFHORU HFRQRPLFH DOH ILUPHL L vQUHJLVWUHD]

IXQF LH

GH

recomanG

SROLWLFD

ILQDQFLDU

FD YDORDUHD DFHVWHLD V

vQWUHSULQGHULL

ILH

lor proprii n
valori diferite n

UHQWDELOLWDWHD

HL

6H

> .

c) Rata datoriilor pe termen scurt:

Datorii pe termen scurt
Total pasiv
$FHDVW

UDW

VHPQLILF

100

SRQGHUHD GDWRULLORU FX WHUPHQ GH H[LJLELOLWDWH

mai mic de un an n totalul surselor ntreprinderii.

d) Rata datoriilor totale:
Datorii totale
Total pasiv

100

AceaVW UDW UHIOHFW SRQGHUHD

scurt n patrimoniul ntreprinderii.

GDWRULLORU SH WHUPHQ OXQJ PHGLX L

Exemplu:
Lund n considerare datele din tabelul 5.5 BILAN CONTABIL
AL NTREPRINDERII A, V VH FDOFXOH]H L V VH LQWHUSUHWH]H UDWHOH GH
VWUXFWXU

DOH DFWLYXOXL L SDVLYXOXL VRFLHW

LL FRPHUFLDOH UHVSHFWLYH

Tabelul 5.5
%,/$1

ACTIV

&217$%,/ $/ 175(35,1'(5,,

N
9550

,PRELOL] UL

financiare

526400

730

,PRELOL] UL

corporale

9984

574200

,PRELOL] UL

necorporale

N-1

730

PASIV

N-1

Capital social

300000

300000

Rezerve

97500

49200

Provizioane
reglementate

42000

22750

55670

25425

Rezultatul
H[HUFL LXOXL

ACTIVE
IMOBILIZATE

584480

537114

CAPITAL
PROPRIU

495170

397375

Stocuri

301640

309500

Datorii financiare
(scaden > 1 an)

394850

354500

&OLHQ L

70120

120000

AvaQVXUL L
aconturi primite

4225

3750

$OWH FUHDQ H

9050

25480

Valori
mobiliare de
plasament

41875

43620

conturi asimilate

25840

95289

12500

24700

Alte datorii pe
termen scurt

99580

209500

ACTIVE
CIRCULANTE

435185

523300

TOTAL
DATORII

524495

663039

TOTAL
ACTIV

1019665

1060414

TOTAL PASIV

1019665

1060414

'LVSRQLELOLW

)XUQL]RUL L

FD]XO

vQWUHSULQGHULL

DQDOL]DWH

UDWH

5$7( '( 6758&785

VWUXFWXU

DFWLYXOXL

N-1
57,32
0,94
56,31
0,07
42,68

5H]XOW

Tabelul 5.6
= mii lei =
N
50,65
0,94
49,64
0,07
50,65

29,58

29,19

7,76

13,72

5,33

6,44

87,29
55,64
12,71
51,44

1. Rata activelor imobilizate

 5DWD LPRELOL] ULORU necorporale
3. 5DWD LPRELOL] ULORU corporale
4. 5DWD LPRELOL] ULORU ILnanciare
5. Rata activelor circulante
6. Rata stocurilor de materii prime, materiale etc.
7. 5DWD FUHDQ HORU
8. 5DWD GLVSRQLELOLW LORU E QHWL L SODsamentelor
9. 5DWD VWDELOLW LL ILQDQFLDUH
10. Rata autonomiei financiare
11. Rata datoriilor pe termen scurt
12. Rata datoriilor totale

Concluzii:

GH

DVWIHO

SDVLYXOXL VH SUH]LQW

70,90
52,85
29,10
62,53

vQWUHSULQGHUHD

DSDU LQH

VIHUHL

SURGXFWLYH

UHVSHFWLY

XQXL VHFWRU FDUH QHFHVLW

R GRWDUH WHKQLF
VHPQLILFDWLY , fapt
reflectat de ponderea mare a activelor imobilizate n total activ n ambele
SHULRDGH DQDOL]DWH 5DWD LPRELOL] ULORU FRUSRUDOH HVWH IRDUWH DSURSLDW
FHHD FH GHPRVWUHD]

a activelor imobilizate,

vQ WRWDOXO LPRELOL] ULORU 9DORDUHD UHGXV

L QHFRUSRUDOH VHPQLILF

GH FHD

SUHSRQGHUHQ D DFHVWXL HOHPH

D UDWHORU LPRELOL] ULORU ILQDQFLDUH

R DFWLYLWDWH GH LQYHVWL LL ILQDQFLDUH UHVWU QV

asemenea, R SRQGHUH PLF

nt

L GH

D DFWLYH

lor intangibile n total activ.

R SRndere de 42,68% n primul an, care

$FWLYHOH FLUFXODQWH GH LQ
FUHWH vQ XUP WRUXO DQ SkQ

OD YDORDUHD GH 

 $FHDVW

PDMRUDUH D UDWHL

activelor circulante s-D UHDOL]DW SUHSRQGHUHQW SH VHDPD FUHDQ HORU, DO F URU

indice a fost de 183,76%. $FHVW VLWXD LH SRDWH IL GHWHUPLQDW GH FUHWHUHD
YROXPXOXL

GH

FRPIRUWDELOH
UHFRPDQG

DFWLYLWDWH

SHQWUX

FOLHQ L

GH

DFRUGDUHD

GDU

GH

DVWIHO FRPSOHWDUHD DFHVWHL

XQRU

DSDUL LD

DQDOL]H

WHUPHQH
XQRU

FX

GH

FUHDQ H

SODW
LQFHUWH

LQIRUPD LL UHIHULW

YROXPXO GH DFWLYLWDWH L OD VWUXFWXUD FUHDQ HORU GXS

PDL
6H

oare la

QDWXUD ORU FHUWLWXGLQHD

UHDOL] ULL DFHVWRUD L WHUPHQXO GH UHDOL]DUH

'LQ SXQFW GH YHGHUH DO UDWHORU GH VWUXFWXU
SUH]LQW

VWDELOLWDWH

ILQDQFLDU

ULGLFDW

GDU

D SDVLYXOXL vQWUHSULQGHUHD

FDUH

-a degradat n timp



vQ DQXO 1 ID

de 87,29% n anul N-1). De asemenea, firma dispune

GH DXWRQRPLH ILQDQFLDU  SRQGHUHD FDSLWDOXOXL SURSULX vQ FDSLWDOXO SHUPDQHQW

fiind de 

 GDU vQ DQXO XUP WRU DFH

VH GH OLPLWD PLQLP

DGPLV

VF GHULL FDSLWDOXOXL SURSULX



asta scade semnificativ, apropiinduent), ca urmare a

GLQ FDSLWDOXO SHUPDQ

GHFL D FUHWHULL GDWRULLORU SH WHUPHQ PHGLX L

OXQJ 5DWD GDWRULLORU WRWDOH D FUHVFXW VLP LWRU SH VHDPD REOLJD LLORU SH WHUPHQ

scurt, FHHD FH D P
'HL
vQUHJLVWUHD]

ULW JUD

ILUPD

dul de ndatorare a firmei.

GLVSXQH

GH

VWDELOLWDWH

DXWRQRPLH

ILQDQFLDU 

VH

WRWXL R GHWHULRUDUH D VLWXD LHL ILQDQFLDUH vQ DQXO 1 FRPSDUDWLY

cu anul N-1, ceea impune o reorientare a politicii financiare pe perioada

XUP WRDUH

 $QDOL]D FRUHOD LHL GLQWUH FUHDQ H L REOLJD LL

CUHDQ HOH

UHIOHFW

ILUPHL FXP VXQW FOLHQ LL

OLYU ULL

EXQXULORU

DQJDMDPHQWH FRQWUDFWDWH GH DQXPL L SDUWHQHUL DL

DOH F URU WHUPHQH GH SODW

VHUYLFLLORU

SUHFXP

DX R VFDGHQ

GHELWRULL

ILUPHL

vQ

XOWHULRDU
FDOLWDWH

GH

beneficiari ai unor mprumuturi pe care le vor rambursa ulterior mpreun cu

GREkQGD

DIHUHQW

IRUPDWH

GLQ

DFHVWRUD

FOLHQ L

'LQ

SXQFW

GH

YHGHUH

FRQWDELO

FUHDQ H

IXUQL]RUL GHELWRUL

SULYLQG

FUHDQ HOH

VXQW

SHUVRQDOXO

DVLJXU ULOH VRFLDOH DOWH FUHDQ H SULYLQG VWDWXO L LQVWLWX LLOH SXEO

ice, debitori

diversi etc.
2EOLJD LLOH GDWRULLOH QHILQDQFLDUH SH WHUPHQ VFXUW UHSUH]LQW
GH

ILQDQ DUH

DWUDVH

SH

GXUDW

PDL

PLF

GH

DQ

H[FOX

VXUVH

znd creditele

EDQFDUH $FHVWHD FRQ LQ GDWRULLOH F WUH IXUQL]RUL SHUVRQDO VWDW DF LRQDUL

avansuri de OD FOLHQ L etc.

&UHDQ HOH
LQIOXHQ HD]

IOX[XULOH

REOLJD LLOH
E QHWL

FRQVWLWXLH

DOH

SULQFLSDOHOH

vQWUHSULQGHULL

HOHPHQWH

FRQVHFLQ

FDUH

DFHVWHD

WUHEXLH DQDOL]DWH FRUHODW GLQ SXQFW GH YHGHUH DO VXPHORU L DO WHUPHQHORU GH

vQFDVDUH L GH SODW  ,QGLFDWRULL XWLOL]D L vQ DFHVW VFRS VXQW
 'XUDWD GH LPRELOL]DUH D FUHDQ HORU 'L

Di =

Sd 360
Rd

unde:
6G

VROGXO PHGLX DO FUHDQ HORU

5G

UXODMXO GHELWRU DO FRQWXULORU GH FUHDQ H

;
.

Q SUDFWLF

VH XWLOL]HD]  GH UHJXO  FLIUD GH DIDFHUL GHRDUHFH ELODQ XO

LQIRUPD LL UHIHULWRDUH OD UXODMXO FRQWXULORU UHVSHFWLYH

QX IXUQL]HD]

1. Durata de folosire a surselor atrase (Df):

Sc 360
Rc

Df =
unde:
6F

VROGXO PHGLX DO FRQWXULORU GH REOLJD LL

Rc = rulajul creditor al conturilor respective.

&RUHOD LD GLQWUH VXPD FUHDQ HORU L D REOLJD LLORU SH WHUPHQ VFXUW
SUHFXP L GLQWUH 'L L 'I JHQHUHD]
VDX QHJDWLY GLVSRQLELOLW

a)

'DF

6G

LOH ILUPHL

6F L 'L

IOX[XUL E QHWL FDUH LQIOXHQ HD]

SR]LWLY

Astfel:

'I  DWXQFL FHO SX LQ GLQ SXQFW G

e vedere

WHRUHWLF VH SURGXFH R FRPSHQVDUH vQWUH FUHDQ H L REOLJD LL

'I DWXQFL IOX[XO GH GLVSRQLELOLW

L HVWH

LQIOXHQ DW SR]LWLY GHRDUHFH VXPD vQFDV ULORU HVWH VXSHULRDU

b)

'DF

6G ! 6F L 'L

VXPHL

LORU SHQWUX DFHODL LQWHUYDO GH WLPS

SO
([LVW

ELQHvQ HOHV L PXOWH DOWH YDULDQWH vQ IXQF LH GH FHL  LQGLFDWRUL

&RUHOD LD

GLQWUH

FUHDQ H

REOLJD LL

SRDWH

IL

VWXGLDW

SH

ED]D

EDODQ HL DFHVWRUD vQ IXQF LH GH WHUPHQHOH ORU GH YHFKLPH L GH SRQGHUHD

DFHVWRUD vQ FDGUXO WRWDOXO FUHDQ HORU L D REOLJD LLORU

, astfel:

- Sub 30 zile
- 30 - 60 zile
- 60 - 90 zile
- 90 - 180 zile
- 180 - 270 zile
- 270 - 1 an.
Q SUDFWLF

VH IRORVHVF LQWHUYDOH GH YHFKLPH PXOW PDL PDUL SkQ

OD

90 zile, ntre 90 ]LOH L XQ DQ SHVWH XQ DQ

Exemplu:
6H G

XUP WRDUHD VLWXD LH D FUHDQ HORU L D REOLJD LLORU ILUPHL $

Tabelul 5.7

Nr.
Crt.
1.
2.
3.
4.

Indicatori
Cifra de afaceri
&UHDQ H
2EOLJD LL
5DSRUWXO FUHDQ HREOLJD LL

N-2
mil lei
%
7.450
100
524
100
1.045
100
0,50 100

Perioada
N-1
mil lei
%
7.846 105,3
679 129,6
1.274 121,9
0,53
X

N
mil.lei
7.980
975
1.527
0,64

%
101,7
143,6
119,9
X

n perioada celor tUHL

ntr-XQ

DQL DQDOL]D L FUHDQ HOH L REOLJD LLOH DX FUHVFXW

ULWP VXSHULRU FHOXL DO FLIUHL GH DIDFHUL FHHD FH LQIOXHQ HD]

IOX[XO GH GLVSRQLELOLW

L $FHDVW

LQIOXHQW

HVWH SDU LDO GLPLQXDW

GLQWUH FUHDQ H L REOLJD LL UDSRUW FDUH GHL DUH R GLQDPLF

QHJDWLY

GH UDSRUWXO

FUHVF WRDUH HO HVWH

R PDMRUDUH D JUDGXOXL GH LPRELOL]DUH D FDSLWDOXOXL

VXEXQLWDU FHHD FH LQGLF

firmei.
GH

Durata

LPRELOL]DUH

FUHDQ HORU

'L

GXUDWD

GH

IRORVLUH

DVWIHO

VXUVHORU DWUDVH VH SUH]LQW

Tabelul 5.8

Nr.crt.
Indicatori
1.
'XUDWD GH LPRELOL]DUH D FUHDQ HORU
2.
Durata de folosire a surselor atrase

N2
25,3
50,5

1LYHOXO L HYROX LD DFHVWRU GRL LQGLFDWRUL FRQILUP

DQWHULRU DGLF
LPRELOL]DUHD

IDSWXO F  GHL FUHDQ HOH vQUHJLVWUHD]

IRQGXOXL

GH

UXOPHQW

HVWH

= zile =
N
44
191,4

N1
31,2
58,5

FRQFOX]LD VWDELOLW

FUHWHUL VXEVWDQ LDOH

VXSOLQLW

GH

VXUVHOH

DWUDVH

suplimentar.
'LQ SXQFW GH YHGHUH DO JUDGXOXL GH YHFKLPH VLWXD LD FUHDQ HORU L D
REOLJD LLORU vQ DQXO 1 VH SUH]LQW

DVWIHO

Tabelul 5.9

Nr.
Crt.
1.
2.
3.
5H]XOW

6SHFLILFD
3kQ

&UHDQ H

ie

mil.lei
754
193
27
974

OD  GH ]LOH

QWUH  ]LOH L  DQ

Peste 1 an
Total
F

SRQGHUHD

YHFKLPH GH SkQ
vQFDV ULORU L SO

FHD

PDL

PDUH

2EOLJD LL

%
75,4
19,8
2,8
100
GH LQ

OD  ]LOH FHHD FH DVLJXU

FUHDQ HOH
R IUHFYHQ

mil.lei
1.022
395
110
1.527
L

%
66,9
25,9
7,2
100

REOLJD LLOH

FX

FRUHVSXQ] WRDUH D

LORU

 $QDOL]D OLFKLGLW

LL L VROYDELOLW

LL ILUPHL

Lichiditatea UHSUH]LQW SURSULHWDWHD HOHPHQWHORU SDWULPRQLDOH GH D VH

transforma n bani.
Solvabilitatea este capacitatea ntreprinderii de a-L RQRUD REOLJD LLOH
GH SODW

OD VFDGHQ

&DSDFLWDWHD

GH

FDSDFLWDWHD

H[SULP

VFXUW

SHULRDG

GH

SODW

VHPQLILF

PLMORDFHORU
WLPS

GH

VROYDELOLWDWHD

EDQHWL

RELFHL

OD

SkQ

XQ
OD

LPHGLDW 

PRPHQW


GH

GDW

VDX

UHVSHFWLY
SHQWUX

]LOH

, de a acoperi

REOLJD LLOH VFDGHQWH SHQWUX DFHODL LQWHUYDO GH WLPS

Pentru caracterizarea

OLFKLGLW

LL

unei firme

VH FRPSDU

SDVLYHOH SH

WHUPHQ VFXUW FX UHVXUVHOH GLVSRQLELOH SHQWUX DFHHDL SHULRDG 

Cele mai utilizate rate de lichiditate sunt:

1.

5DWD OLFKLGLW

LL JHQHUDOH

Active circulante
Lg = Datorii curente
'DWRULLOH FXUHQWH VXQW IRUPDWH GLQ REOLJD LLOH ID
ILVFDOH

VDODULDOH

FUHGLWHOH

SH

WHUPHQ

VFXUW

GH IXU

SUHFXP

vPSUXPXWXULOH SH WHUPHQ PHGLX L OXQJ D F URU VFDGHQ

nizori, cele
SDUWHD

GLQ

HVWH vQ FDGUXO

H[HUFL LXOXL ILQDQFLDU FXUHQW

6H DSUHFLD]

VLWXD LD OLFKLGLW

XQHOH VXUVH vQ FRQGL LLOH vQFDGU ULL

GXS

LL JHQHUDOH HVWH VDWLVI F WRDUH GXS

acestei rate n intervalul 1,2 si 1,8, iar

DOWHOH vQ LQWHUYDOXO  VL 

2.

5DWD OLFKLGLW

Lc =

LL FXUHQWH

(intermediare):

Active circulante Stocuri

Datorii curente

Potrivit teoriei nord-amHULFDQH

GHQXPLUHD GH WHVWXO DFLG $FHDVW

UDW

FRQVLGHUDW FD VDWLVI F WRU SHQWUX DFHDVW

3.

5DWD OLFKLGLW

Li =

LL LPHGLDWH

'LVSRQLELOLW

DFHDVW

UDW

HVWH FXQRVFXW

L VXE

HVWH GH RELFHL VXEXQLWDU  ,QWHUYDOXO

UDW

HVWH GH 

-1.

L L SODVDPHQWH

Datorii curente

Q WHRULD HFRQRPLF
UDWD

VROYDELOLW

LL

JULM  $VWIHO XQ QLYHO

poatH

IL

, DFHDVW UDW HVWH FXQRVFXW L VXE GHQXPLUHD GH

Interpretarea acesteia WUHEXLH I FXW FX PDUH
ULGLFDW DO DFHVWHLD LQGLF
o solvabilitate mare, dar

LPHGLDWH

FRQVHFLQ D

XQHL

XWLOL] UL

GLVSRQLELOH 9DORDUHD ULGLFDW

JDUDQ LH D VROYDELOLW

lichiditate.

LL GDF

PDL

SX LQ

SHUIRUPDQWH

UHVXUVHORU

D DFHVWHL UDWH QX FRQVWLWXLH vQ DFHODL WLPS R

UHVWXO DFWLYHORU FLUFXODQWH DX XQ JUDG UHGXV GH

'LQ

FRQWU 
FX

FRPSDWLELO

YDORDUH

PHQ LQHUHD

UHGXV

HFKLOLEUXOXL

OLFKLGLW

LL

ILQDQFLDU

LPHGLDWH
GDF

SRDWH

IL

vQWUHSULQGHUHD

YDORDUHD GLVSRQLELOLW LORU VDOH GH LQkQG vQ VFKLPE, valori de

plasament, creante, stocuri cu un grad mare de lichiditate etc.
Solvabilitatea se poate exprima cu ajutorul mai multor indicatori,
PLQLPL]HD]

GLQWUH FDUH FHL PDL LPSRUWDQ L VXQW

1. RatD VROYDELOLW

9DORDUHD PLQLP
FRQVLGHUDW

2.

D UDWHL VROYDELOLW

LL SDWULPRQLDOH VH DSUHFLD]

VH vQFDGUH]H vQ OLPLWHOH   LDU SHVWH  VLWXD LD SRDWH IL

QRUPDO 
5DWD VROYDELOLW

$FHDVW
DFWLYHOH

UDW

LL JHQHUDOH

Active totale
Datorii totale

Sg =

F WUH

Capital propriu
Capital propriu + credite totale

Sp =

WUHEXLH V

LL SDWULPRQLDOH

LQGLF

WRWDOH

vQ FH P VXU

DOH

GDWRULLOH WRWDO

vQWUHSULQGHULL

FLUFXODQWH &X FkW YDORDUHD UDWHL VROYDELOLW

 FX DWkW VLWXD LD ILQDQFLDU

DFWLYH

e sunt acoperite de

LPRELOL]DWH

DFWLYH

LL JHQHUDOH HVWH PDL PDUH GHFkW

GH DQVDPEOX D ILUPHL HVWH PDL EXQ 

Pe baza datelor din Tabelul 5.5, BILAN CONTABIL AL

NTREPRINDERII A, VH RE LQ XUP WRDUHOH YDORUL DOH UDWHORU GH OLFKLGLWDWH
L VROYDELOLWDWH

N-1
3,36
1,03
0,42
1,25
1,94

Tabelul 5.10
N
1,7
0,69
0,22
1,12
1,6

QLYHOXO DFHVWRU UDWH VH vQFDGUHD]

vQ OLPLWHOH

Indicatori
Rata lichidit ii generale
Rata lichidit ii curente ( intermediare )
Rata lichidit ii imediate
Rata solvabilit ii patrimoniale
Rata solvabilit ii generale
Q DPEHOH

SHULRDGH

considerate normale, FRQIRUP VWDQGDUGHORU LQWHUQD LRQDOH &D WHQGLQ , se

nrHJLVWUHD] R GLPLQXDUH D WXWXURU LQGLFDWRULORU FHOH PDL DFFHQWXDWH ILQG
FHOH DOH OLFKLGLW LL FXUHQWH L JHQHUDOH FDUH vQ DQXO 1- FRERDU
FKLDU VXE
limita admis  'HL VLWXD LD vQWUHSULQGHULL QX HVWH DODUPDQW  WUHEXLH
DGRSWDWH
VROYDELOLW

P VXUL

SHQWUX

PHQ LQHUHD

FKLDU

LL DFHVWHLD vQ SHULRDGHOH XUP WRDUH

FUHWHUHD

OLFKLGLW

LL

5.2.7 Analiza echilibrului economico-financiar

(FKLOLEUXO ILQDQFLDU DO ILUPHL UHSUH]LQW
FDUH VH VWDELOHVF DQXPLWH SURSRU LRQDOLW

financiare. Acestea

UHSUH]LQW

, prin

XQHL

LL ILUPHL vQ FRQIRUPLWDWH FX RELHFWXO V

GHVI XU UL QRUPDOH D DFWLYLW

XQ VLVWHP GH FRUHOD LL

L vQ FDGUXO L vQWUH GLIHULWHOH IOX[XUL

SUHPLV

GDU

FRQVHFLQ

u de

DFWLYLWDWH &D SUHPLV  WUHEXLH DYXWH vQ YHGHUH FRUHOD LLOH RELHFWLYH GLQWUH
QHFHVLW

LOH GH UHVXUVH PDWHULDOH L SRVLELOLW

LOH GH ILQDQ DUH 'H PRGXO FXP

VXQW XWLOL]DWH L YDORULILFDWH DFHVWH UHVXUVH GHSLQGH DVLJXUDUHD HFKLOLEUXOXL

economico-financiar sau dereglarea acestuia.

3HQWUX

echiOLEUXO
XWLOL]HD]

H[SULPDUHD

ILQDQFLDU

VLQWHWLF

H[LVW

PXOWLSOHORU

PXOWLWXGLQH

GH

FRUHOD LL

LQGLFDWRUL

mplicate de
SUDFWLF

VH

vQ VSHFLDO XUP WRULL LQGLFDWRUL

1. Rata autonomiei financiare:

Capital propriu
Raf = Capital propriu + Capital mprumutat

2.

5DWD GH ILQDQ DUH D VWRFXUL

Rfs =

3.

lor:

Fond de rulment
Stocuri

5DWD GH DXWRILQDQ DUH D DFWLYHORU

Capital propriu
Raa = Active fixe + Active circulante

4. Rata datoriilor;
Rd =

Datorii totale
Active totale

Utilizndu-se datele din Tabelul 5.5, BILAN CONTABIL AL

NTREPRINDERII A, HYROX LD LQGLFDWRULORU GH HFKLOLEUX ILQDQFLDU VH
SUH]LQW

DVWIHO

Tabelul 5.11

Indicatori
Rata autonomiei financiare
Rata de finan are a stocurilor
Rata de autofinan are a activelor
Rata datoriilor

N-1
0,56
1,01
0,49
0,51

N
0,53
0,69
0,37
0,63

La societatea analizat
vQUHJLVWUHD]

UHODWLY

anterior, echilibrul economico-financiar

GHJUDGDUH

WRWXL

FD

vQ

OLFKLGLWDWH L VROYDELOLWDWH DFHVWH UDWH VH vQFDGUHD]

satisf c toare, ceea demonstreaz

FD]XO

LQGLFDWRULORU

GH

n limitele considerate

IXQF LRQDUHD FRUHVSXQ] WRDUH D DFHVWHLD

 $QDOL]D YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH

9LWH]D GH URWD LH D DFWLYHORU FLUFXODQWH UHSUH]LQW

HILFLHQ

FDUH UHIOHFW

XQ LQGLFDWRU GH

VFKLPE ULOH LQWHUYHQLWH vQ DFWLYLWDWHD vQWUHSULQGHULL vQ

special n activitatea de exploatare: modificarea procesului de aprovizionare

L

SURGXF LH

SHULRDGHL

GH

UHGXFHUHD
GHVIDFHUH

FRVWXULORU
L

vQFDVDUH

VFXUWDUHD
D

FLFOXOXL

SURGXF LHL

GH

SURGXF LH

etc.). Volumul activelor

circulante ale ntreprinderii depindH GH GRL IDFWRUL L DQXPH FLIUD GH DIDFHUL

L

YLWH]D GH

URWD LH D DFWLYHORU FLUFXODQWH

&X FkW DFWLYHOH FLUFXODQWH YRU

SDUFXUJH PDL UHSHGH ILHFDUH VWDGLX DO URWD LHL FDSLWDOXOXL FX DWkW YLWH]D GH
URWD LH YD IL PDL PDUH  LDU QHFHVDUXO GH IRQG GH UXOPHQW

mai mic pentru un

YROXP GDW DO SURGXF LHL UHVSHFWLY DO FLIUHL GH DIDFHUL

9LWH]D GH URWD LH D DFWLYHORU FLUFXODQWH SRDWH IL H[SULPDW

a)

1XP

U GH URWD LL

n=

vQ

(n):

CA
AC

unde:
$&

VROGXO PHGLX DO DFWLYHORU FLUFXODQWH I U

GLVSRQLELOLW

L

Acest indicator se poate calcula pentru fiecare element de active

circulante utilizndu-VH IRUPXOD GH PDL VXV 7RWXL DFHVWD DUH R SXWHUH
LQIRUPDWLY

UHGXV

P ULPH DEVWUDFW

GLQ

SXQFW

FDUH QX UHG

GH

YHGHUH

vQ WHUP

b) Durata n zile (Dz):

Dz =

Ac T
CA

unde:
7

QXP UXO

DO

FRQ LQXWXOXL

GHRDUHFH

eni FRQFUH L UHDOLWDWHD HFRQRPLF

de zile ale perioadei analizate.

HVWH


VFRSXO

LGHQWLILF ULL

DVSHFWHORU

IDYRUDELOH

QHIDYRUDELOH DOH JHVWLRQ ULL UHVXUVHORU VH UHFRPDQG

GDU

PDL

DOHV

FHORU

GHWHUPLQDUHD YLWH]HL GH

URWD LH SH ILHFDUH HOHPHQW DO DFWLYHORU FLUFXODQWH L DO VWDGLXOXL vQ FDUH VH DIO

n cadrul circuitului general, astfel:

b.1) 'XUDWD GH URWD

LH D VWRFXULORU GH PDWHULL SULPH L PDWHULDOH

6WRFXO PHGLX GH PDWHULL SULPH L PD

teriale

Cheltuielile cu materialele

E 'XUDWD GH URWD LH D VWRFXULORU GH SURGXF LH vQ FXUV GH H[HFX LH

6WRFXO PHGLX GH SURGXF LH vQ FXUV GH H[HFX LH
3URGXF LD H[HUFL LXOXL H[SULPDW

b.3) 'XUDWD GH URWD

n costuri (cheltuieli aferente proGX LHL H[HUFL LXOXi)

LH D VWRFXULORU GH SURGXVH ILQLWH L VHPLIDEULFDWH

6WRFXO PHGLX GH SURGXVH ILQLWH L VHPLIDEULFDWH

Cheltuielile aferente veniturilor din exploatare

b.4) Durata de rota ie a crean elor (durata de ncasare a crean elor):

Stocul PHGLX DO FUHDQ HORU
Veniturilor din exploatare
$QDOL]D

IDFWRULDO

T
D

YLWH]HL

GH

URWD LH

SUHVXSXQH

XWLOL]DUHD

XUP WRUXOXL PRGHO

CA
AC
Dz =
T
CA

AC(1)
AC

AC(2)
AC(n)

unde:
Dz = viteza de rotatie a activelor circulante n zile;
CA = cifra de afaceri;
AC = soldul mediu al activelor circulante;
AC(1), AC(2),AC(n) = categorii de active circulante (stocuri de materii
prime, materiale, produc ie n curs de execu ie, produse finite,
crean e etc.)

&RQVHFLQ HOH
PDWHULDOL]HD]

DFFHOHU ULL

VDX

vQFHWLQLULL

YLWH]HL

GH

URWD LH

VH

vQ HOLEHU UL VDX LPRELOL] UL GH DFWLYH FLUFXODQWH LQGLFDWRU FH

VH SRDWH FDOFXOD FX DMXWRUXO UHOD LHL

CA1
T
Pentru exemplificare se folosesc urm toarele date:
E ( I ) = (Dz1 Dz0)

Tabelul 5.12
= mil lei =
Nr.
Crt.
1.
2.

3.

INDICATORI

N-1

Cifra de afaceri
Soldul mediu al activelor circulante,
din care:
stocuri
FUHDQ H

53400
11620

61200
13400

114,61
115,32

6480
5140
78,34

7050
6350
78,82

108,80
123,54
100,61

9LWH]D GH URWD LH  ]LOH 

Model de analiz :
Dz =

AC
St + Cr
T =
T
CA
CA

9DULD LD YLWH]HL GH URWD LH vQ ]LOH

Dz = Dz1 Dz 0 = 78,82 78,34 = +0,48 zile

0HWRGRORJLD GH DQDOL]

IDFWRULDO

D YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH

HVWH XUP WRDUHD

1. ,QIOXHQ D PRGLILF ULL FLIUHL GH DIDFHUL

AC0
AC0
T
T = 68,35 78,34 = 9,99 zile
CA1
CA 0
2. ,QIOXHQ D PRGLILF ULL VROGXOXL PHGLX DO DFWLYHORU FLUFXODQWH
AC1
AC0
T
T = 78,82 68,35 = +10,47 zile
CA1
CA1
GLQ FDUH GDWRULW 


,QIOXHQ HL PRGLILF ULL VWRFXULORU PHGLL

St1
St
T 0 T = 41,47 38,11 = +3,36 zile
CA1
CA1


,QIOXHQ HL PRGLILF ULL VROGXOXL PHGLX DO FUHDQ HORU

Cr1
Cr
T 0 T = 37,35 30,24 = +7,11 zile
CA1
CA1

(IHFWXO PRGLILF ULL YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH

poate fi o
, sau o imobilizare

vQ FD]XO DFFHOHU ULL YLWH]HL GH URWD LH

eliberare de capital
GH

FDSLWDO

vQ

vQUHJLVWUHD]

FD]XO

vQFHWLQLULL

R LPRELOL

I = ( 78,82 78,34 )
6H FRQVWDW

DFHVWHLD

VLWXD LD

DQDOL]DW

PDL

VXV

VH

zare de capital, respectiv:

61.200
= 81,6 mil. lei
360

R vQFHWLQLUH D YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH GH OD

 ]LOH vQ SULPXO DQ OD  ]LOH vQ DQXO XUP WRU FHHD FH DUH FD HIHFW R

imobilizare dH FDSLWDO QFHWLQLUHD YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH V-a

GDWRUDW FUHWHULL VROGXOXL PHGLX DO DFWLYHORU FLUFXODQWH vQWU-un ritm superior
celui al cifrei de afaceri (115,32% > 114,61% ).
'LQ

SXQFW

GH

YHGHUH

DO

LQIOXHQ HORU

PDMRUDUHD FLIUHL GH DIDFHUL FX 

VROGXOXL

PHGLX

URWD LH DGLF

DO

VH

FRQVWDW

vQ FRQGL LLOH PHQ LQHULL FRQVWDQWH D

FLUFXODQWH

GHWHUPLQ

DFFHOHUDUHD

YLWH]HL

GH

UHGXFHUHD DFHVWHLD FX  ]LOH

&UHWHUHD
GHWHUPLQDW

DFWLYHORU

IDFWRULORU

VROGXOXL

vQFHWLQLUHD

10,47 zile. $FHDVW

PHGLX

YLWH]HL

GH

DO

DFWLYHORU

URWD LH

FLUFXODQWH

UHVSHFWLY

FX

PDMRUDUHD



32% a

DFHVWHLD

FX

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PDMRU ULL FUHDQ HORU QX HVWH MXVWLILFDW

QRUPDO

ISt < ICA ), dar cea a

vQ WRWDOLWDWH GH FUHWHUHD YkQ] ULORU

( ICr > ICA ).

'HFL
WUHEXLH

SHQWUX

UHGXV

DFFHOHUDUHD

VROGXO

categorii GH DFWLYH
desf XUDUH D DFWLYLW

PHGLX

DO

FLUFXODQWH

YLWH]HL

GH

FUHDQ HORU
SkQ

OD

URWD LH
SUHFXP

OLPLWD

OD

DFWLYHORU

FDUH

YDORULL

QX

FLUFXODQWH
FHORUODOWH

DIHFWHD]

una

LL

& LOH GH DFFHOHUDUH D YLWH]HL GH URWD LH D DFWLYHORU FLUFXODQWH VXQW

YDULDWH

HOH

ILLQG

VSHFLILFH

ILHF UXL

VWDGLX

DO

URWD LHL

FDSLWDOXOXL

LQYHVWLW

Astfel:

n stadiul

DSURYL]LRQ ULL DSURYL]LRQDUHD ULWPLF

FX UHVXUVH PDWHULDOH

GH OD FHOH PDL DSURSLDWH VXUVH L FX PLMORDFHOH GH WUDQVSRUW FHOH PDL

economice, respectarea contractelor ncheiate cu furnizorii, reduFHUHD

OD

PD[LPXP

WUDQVSRUWXOXL

SHULVDELOLW

GHSR]LW ULL

SULQ

LORU

OD

PDWHULDOH

PHFDQL]DUHD

UD LLORU GH PDQLSXODUH D DFHVWRUD GLPHQVLRQDUHD

SH

GXUDWD

DXWRPDWL]DUHD

RSH

optim a stocurilor

de materii prime, materiale, produse finite etc.;

vQ

VWDGLXO

SURGXF LHL

UHGXFHUHD

GXUDWHL

FLFOXOXL

GH

SURGXF LH

diminXDUHD FRQVXPXULORU VSHFLILFH GH PDWHULL SULPH L PDWHULDOH SULQ

PRGHUQL]DUHD

WHKQRORJLLORU

DSURYL]LRQDUHD UD LRQDO
SHUVRQDOXOXL vPEXQ W

GH

IDEULFD LH

XWLOL]DUHD

LORU GH SURGXF LH IRORVLUHD FRPSOHW

FDSDFLW

LQWHJUDO

D WLPSXOXL GH PXQF 

D ORFXULORU GH PXQF  FUHWHUHD FDOLILF ULL

LUHD FDOLW

LL SURGXVHORU

vQ VWDGLXO YkQ] ULL FUHWHUHD ULWPXOXL YkQ] ULORU SULQ vQFKHLHUHD GH

FRQWUDFWH

IHUPH

GH

OLYUDUH

SURGXF LHL

UHGXFHUHD

WLPSXOXL

PDQLSXODUH D ORWXULORU OLYUDELOH SUHFXP L DFFHOHUDUHD ULWPXOX

GH

i de

vQFDVDUH D YkQ] ULORU SULQ DOHJHUHD FHORU PDL DYDQWDMRDVH IRUPH GH

GHFRQWDUH FX FOLHQ LL XUP ULUHD RSHUDWLY

D GHFRQW ULL SURGXVHORU

etc.

5.2.9 Analiza fluxurilor de trezorerie

7RDWH

RSHUD LLOH

SH

FDUH

vQWUHSULQGHUHD

OH

GHVI RDU

VH

UHJ VHVF

imedLDW

VDX OD WHUPHQ VXE IRUPD IOX[XULORU GH WUH]RUHULH $VWIHO R ILUP

DVLJXU

SHUHQLWDWHD GRDU GDF

SULQ DFWLYLWDWHD VD GHJDM

vL

vQ PRG SHUPDQHQW

trezorerie.
7UH]RUHULD

UHSUH]LQW

LQIRUPD LH

FKHLH

FDUH

SHUPLWH

DSUHFLHUHD

SHUIRUPDQ HORU vQWUHSULQGHULL DYkQG L XQ URO VWUDWHJLF vQ FHHD FH SULYHWH

QLYHOXO V X GH IRUPDUH FkW L PRGXO GH XWLOL]DUH

Folosirea DFHVWHL LQIRUPD LL

- ILQDQFLDU GHRDUHFH
spre deosebire de fondul de rulment, necesarul de fRQG GH UXOPHQW L
FRQIHU

RELHFWLYLWDWH vQ JHVWLXQHD L DQDOL]D HFRQRPLFR

FDSDFLWDWHD

GH

DXWRILQDQ DUH

WUH]RUHULD

QX

HVWH

XQ

FRQFHSW

GRPLQDW

GH

LQFLGHQ D FRQYHQ LLORU L SROLWLFLORU FRQWDELOH

([LVWHQ D WUH]RUHULHL UHIOHFW

SR]L LD VWUDWHJLF

D ILUPHL vQ UDSRUW FX

SURGXVHOH VDOH SLH HOH VDOH FRQFXUHQ LL V L L factorii externi. De asemenea,

aceasta FRQVWLWXLH JDMXO IOH[LELOLW LL ILUPHL GHRDUHFH SHUPLWH PDQaJHULORU V
realizeze obiectivele strategice ale firmei prin achizi ii de mijloace fixe sau
SULQ LQYHVWL LL ILQDQFLDUH
3ULYLQG SUDFWLFD LQWHUQD LRQDO  SU

imul model de tablou al fluxurilor

GH WUH]RUHULH HVWH SURSXV SULQ VWDQGDUGXO FRQWDELO DPHULFDQ )$6   L

prin aceaVW

QRUP  GH )$6% &X FkWHYD GLIHUHQ H GLQ  DFHVWD HVWH

UHFRPDQGDW

normalizDUH

HPLWH L SXQH vQ DSOLFDUH vQ  QRUPD  ,$6  SULYLQG

vQ

)UDQ D

$SRL

,$6&

RUJDQLVPXO

LQWHUQD LRQDO

WDEORXO GH ILQDQ DUH $VWIHO GLQ  FRPSDQLLOH PDUL GLQ

WUHEXLH V

SXEOLFH FD R SDUWH FRPSRQHQW

QXPHUDU

&RQIRUP

QRUPHL

L XWLOL]HD]

LQWHUQD LRQDOH

ULOH GH]YROWDWH

VLWXD LLORU ORU ILQDQFLDUH XQ

tablou al fluxurilor de trezorerie.

Tabloul fluxurilor de trezorerie furni]HD]
vQ FDUH vQWUHSULQGHUHD JHQHUHD]

GH

LQIRUPD LL SULYLQG PRGXO

QXPHUDUXO L HFKLYDOHQ

,$6



IOX[XULOH

GH

tele de

WUH]RUHULH

UHSUH]LQW
OLFKLGLW

vedere,

L

DQVDPEOXO LQWU ULORU L LHLULORU GH OLFKLGLW

/LFKLGLW

LOH

VHP

nLILF

LDU HFKLYDOHQWHOH GH OLFKLGLW

OLFKLGH FRQYHUWLELOH FX XXULQ

F URU YDORDUH QX ULVF

IRQGXULOH

L VDX GH HFKLYDOHQWH GH

GLVSRQLELOH

GHSR]LWHOH

OD

L SODVDPHQWHOH SH WHUPHQ VFXUW IRDUWH

ntr-R P

ULPH GHWHUPLQDW

VH VFKLPEH vQ PRG VHPQLILFDWLY

GH OLFKLGLW

L L D

n cadrul tabloului fluxurilor de trezorerie, fluxurile sunt grupate n

XUP WRDUHOH WUHL FDWHJRUL

IOX[XUL JHQHUDWH GH DFWLYLW

LOH GH LQYHVWL LL

IOX[XUL JHQHUDWH GH DFWLYLW

5H]XOWDQWD ILQDO

FDUH SRDWH IL GHWHUPLQDW

LOH GH H[SORDWDUH

IOX[XUL JHQHUDWH GH DFWLYLW

LOH GH ILQDQ

D FHORU WUHL FDWHJRULL GH IOX[XUL HVWH WUH]RUHULD QHW

DVWIHO

prin PHWRGD GLUHFW  FRQIRUP F

brute n numerar;
prin PHWRGD LQGLUHFW  FRQIRUP
FDUH VH FRUHFWHD]

;
DUH.

UHLD VH RSHUHD]

FX vQFDV UL L SO

F UHLD VH SRUQHWH GH OD SURILWXO QHW

FX DFWLYHOH QHPRQHWDUH DOWH HOHPHQWH GH YHQLWXUL

sau cheltuieli nelegate de exploatare etc.

,$6  UHFRPDQG

vQWUHSULQGHULORU XWLOL]DUHD PHWRGHL GLUHFWH GHRDUHFH

aceasta SHUPLWH RE LQHUHD GH LQIRUPD LL QHFHVDUH HVWLP

GH

WUH]RUHULH

'HRVHELUHD

SULQFLSDO

vQWUH

FHOH

GRX

ULL IOX[XULORU YLLWRDUH

PHWRGH

FRQVW

vQ

structura fluxurilor de trezorerie relative referitoare la activit ile de

exploatare.
Conform metodei directe, fluxurile monetare sunt grupate n diferite
FDWHJRULL

GH

vQFDV UL

QRUPD LQWHUQD LRQDO

XUP WRDUHD VWUXFWXU 

)OX[XULOH

PHWRGD GLUHFW 

GH

SO

L

$FHVWHD

QX

VXQW

GDU SH ED]D H[HPSOHOR

WUH]RUHULH

UHODWLYH

SUHFL]DWH

FX

H[DFWLWDWH

OD

DFWLYLW

LOH

GH

H[SORDWDUH

QFDV UL JHQHUDWH GH UHOD LLOH FX FOLHQ LL

- 3O L vQ IDYRDUHD IXUQL]RULORU L SHUVRQDOXOXL

- Dobnzi L GLYLGHQGH SO WLWH 
- 3O L SULYLQG LPSR]LWHOH DVXSUD EHQHILFLLORU 
- $OWH SO L JHQHUDWH GH H[SORDWDUH
- -/+ Elemente extraordinare
- = +/- )OX[XO QHW GH WUH]RUHULH UHODWLY OD DFWLYLW

LOH GH H[SORDWDUH

1) Aceste fluxuri ar putea fi incluse, de asemenea, n categoria fluxurilor de

ILQDQ DUH


$FHVW IOX[ DU SXWHD IL vPS U LW vQWUH DFWLYLW

LOH GH H[SORDWDUH FHOH GH

investi LL L FHOH GH ILQDQ DUH

3

1)HOHDJ

7UDWDW GH FRQWDELOLWDWH ILQDQFLDU

vQ

r, se poate lua n considerare

YRO, (GLWXUD (FRQRPLF

%XFXUHWL 

FHHD

FH

SULYHWH

LQWHUQD LRQDOH YL]HD]

PHWRGD

LQGLUHFW 

SUH]HQWDUHD

WLS

QRUPHL

XUP WRDUHOH FDWHJRULL

+/- 5H]XOWDWXO QHW vQDLQWHD LPSR]LW

ULL L HOHPHQWHORU H[WUDRUGLQDUH

(OLPLQDUHD YHQLWXULORU L FKHOWXLHOLORU I U

LQFLGHQ

DVXSUD WUH]RUHULHL

 &KHOWXLHOL FX DPRUWL] ULOH L SURYL]LRDQHOH

9HQLWXUL GLQ DPRUWL] UL L SURYL]LRDQH

(OLPLQDUHD YHQLWXULORU L FKHOWXLHOLORU QHOHJDWH GH H[SORDWDUH

+/- 5H]XOWDWXO FHVLXQLL LPRELOL]

+ Cheltuieli privind dobnzile
- Venituri din plasamente

ULORU L SODVDPHQWHORU

_____________________________________________________________

= +/- 5H]XOWDWXO GLQ H[SORDWDUH vQDLQWHD YDULD LHL QHFHVDUXOXL GH IRQG GH rulment
+/- 9DULD LD VWRFXULORU
+/- 9DULD LD FRQWXULORU FOLHQ L a DOWRU FUHDQ H Gin exploatare
+/- 9DULD LD FRQWXULORU IXUQL]RUL L D DOWRU GDWRULL GLQ H[SORDWDUH
- 'REkQ]L L GLYLGHQGH SO WLWH 
- 3O L SULYLQG LPSR]LWHOH DVXSUD SURILWXOXL 
+/- Elemente extraordinare
_____________________________________________________________
LOH

= +/- )OX[XO QHW GH WUH]RUHULH UHODWLY OD DFWLYLW

de exploatare

1) Aceste fluxuri ar putea fi incluse, de asemenea, n categoria fluxurilor de

ILQDQ DUH

2)

$FHVW

IOX[

DU

SXWHD

IL

vPS U LW

vQWUH

DFWLYLW

LOH

GH

H[SORDWDUH

FHOH

GH

LQYHVWL LL L FHOH GH ILQDQ D

re.

3ULYLQG

specific

IOX[XULOH

GH

WUH]RUHULH

DOH

DFWLYLW

LORU

GH

LQYHVWL LL

OD XUP WRDUHD SUH]HQWDUH WLS

Fluxurile de trezorerie UHODWLYH OD DFWLYLW



,$6

QX

H[DFW VWUXFWXUD DFHVWRUD WRWXL H[HPSOHOH GLQ DQH[D QRUPHL FRQGXF

LOH GH LQYHVWL LL

AcKL]L LRQDUHD ILOLDOHL ;  - ) trezoreria achizi LRQDW

Cesiunea filialei Y
$FKL]L LRQDUHD GH LPRELOL] UL
$FKL]L LRQDUHD GH SODVDPHQWH
QFDV ULOH FH UH]XOW

GLQ FHVLXQHD GH LPRELOL] UL

+ Dobnzi ncasate
+ Dividende primite (ncasate)
= +/- Flux neW GH WUH]RUHULH UHODWLY OD DFWLYLW

LOH GH LQYHVWL LL

De asemenea,

,$6

WUH]RUHULH UHODWLYH OD DFWLYLW

QX

VSHFLILF

H[DFW

VWUXFWXUD

fluxurilor de

LOH GH ILQDQ DUH WRWXL H[HPSOHOH GLQ DQH[D

QRUPHL FRQGXF OD XUP WRDUHD SUH]HQWDUH WLS

Fluxurile de trezRUHULH UHODWLYH OD DFWLYLW



LOH GH ILQDQ DUH

&UHWHUHD GH FDSLWDO vQ QXPHUDU

- Rambursarea de capital, n numerar

+ Emisiunea (contractarea) de mprumuturi (altele dect cele de trezorerie)
- Rambursarea de mprumuturi (altele dect cele de trezorerie)
- 5DPEXUVDUHD GH GDWRULL FH UH]XOW GLQ FRQWUDFWHOH GH ORFD LH-ILQDQ DUH
-

'REkQ]L L GLYLGHQGH SO WLWH 

= +/- Flux net de trezorerie relativ la activit ile de finan are

1) Aceste fluxuri ar putea s
fluxurilor de exploatare.

fie incluse, de asemenea, n categoria

Exemplu:
3H

ED]D

ELODQ XOXL

FRQWDELO

vQWUHSULQGHUL SUH]HQWDWH PDL MRV V

acesteia.

FRQWXO

GH

SURILW

SLHUGHUL

DOH

XQHL

VH DQDOL]HOH IOX[XULOH GH WUH]RUHULH DOH

Tabelul 5.13
%,/$1

- mil lei (OHPHQWH ELODQ LHUH

N-1

9DULD LD

800
- 130
7000
- 2500
1500
- 250
2300
7000
900
16620

800
- 130
7220
- 2550
1500
- 250
3650
6950
350
17540

+ 220
- 50
+ 1350
- 50
- 550
+ 920

7000
700
4600
3200
720
400
16620

8220
800
3850
3700
700
270
17540

+ 1220
+ 100
- 750
+ 500
- 20
- 130
+ 920

Elemente de activ
,PRELOL] UL QHFRUSRUDOH
$PRUWL] UL LPRELOL] UL

necorporale

,PRELOL] UL FRUSRUDOH
$PRUWL]DUL LPRELOL] UL FRUSRUDOH
,PRELOL] UL ILQDQFLDUH
$PRUWL] UL LPRELOL] UL ILQDQFLDUH

Stocuri
&UHDQ H 
'LVSRQLELOLW

Elemente de activ - total

Elemente de pasiv
Capital social
Profit nerepartizat
Datorii financiare pe termen lung
Datorii furnizori
'DWRULL ILVFDOH L VRFLDOH

Datorii diverse
Elemente de pasiv total
 6H FRQVLGHU
FUHDQ H

WRDWH FUHDQ HOH VXQW

FOLHQ L DIHUHQWH DFWLYLW

exploatare

LL GH

Tabelul 5.14
&2178/ '( 352),7 , 3,(5'(5( /$  $18/ 1

- mil lei INDICATORI

Venituri din exploatare
Venituri din vnzarea m UIXULORU

N
14400
4000
10400
14400
-

3URGXF LH YkQGXW

Cifra de afaceri
3URGXF LH VWRFDW
3URGXF LH LPRELOL]DW

Cheltuieli de exploatare

13900
1700
4100
350
600
420
2500
1300

&KHOWXLHOL SULYLQG P UIXULOH

Cheltuieli cu materiile prime

&KHOWXLHOL FX HQHUJLD L DSD
&KHOWXLHOL FX OXFU UL L VHUYLFLL H[HFXWDWH

Cheltuieli cu LPSR]LWH L WD[H

Cheltuieli cu personalul
&KHOWXLHOL SULYLQG DVLJXU ULOH L SURWHFWLD VRFLDO
&KHOWXLHOL FX DPRUWL]DUHD LPRELOL] ULORU

2930
Venituri financiare
Venituri din dobnzi
Alte venituri financiare

100
100
-

Cheltuieli financiare
Cheltuieli privind dobnzile
Alte cheltuieli financiare

200
200
-

9HQLWXUL H[FHS LRQDOH

Venituri din cedarea activelor

-

&KHOWXLHOL H[FHS LRQDOH

Cheltuieli cu cedarea activelor

-

Profit brut
Impozit pe profit
Profit net

400
100
300

,QIRUPD LL FRPSOHPHQWDUH

FUHWHUHD FDSLWDOXOXL D DYXW ORF vQ FXUVXO DQXOXL 1 SULQ DSRUW GH

QXPHUDU DO DF LRQDULORU

VH GLVWULEXLH GLYLGHQGH DF LRQDULORU vQ YDORDU

e de 200 mil. lei;

s-D DFKL]L LRQDW XQ XWLODM vQ YDORDUH GH 

n numerar ntreaga contravaloare a acestuia;
s-a rambursat un credit de 750 mil.lei.

PLOOHL SO WLQGX

-se

Pe baza datelor de mai sus, tabloul fluxurilor de trezorerie pentru

anul N se prezLQW DVWIHO
Tabelul 5.15
TABLOUL FLUXURILOR DE TREZORERIE PENTRU ANUL N

- mil lei )OX[XULOH GH WUH]RUHULH UHIHULWRDUH OD DFWLYLW

LOH GH H[SORDWDUH

3URILWXO QHW vQDLQWHD LPSR]LW ULL

(OLPLQDUHD YHQLWXULORU L FKHOWXLHOLORU I U

400
LQFLGHQ

asupra trezoreriei:

 &UHWHUHD FKHOWXLHOLORU SULYLQG DPRUWL] ULOH

+ 2930

Eliminarea veniturilor L a cheltuielilor nelegate de exploatare:

__________________________________________________________________
3URILWXO GLQ H[SORDWDUH vQDLQWHD YDULD LHL QHFHVDrului de fond de rulment
+3330
- &UHWHUHD VWRFXULORU
-1350
+50
+ 'LPLQXDUHD VROGXULORU FRQWXULORU FOLHQ L L DOWRU FUHDQ H din exploatare
+ &UHWHUHD GDWRULLORU ID GH IXUQL]RUL
+500
- Diminuarea datoriilor fisFDOH L VRFLDOH
-20
- Diminuarea datoriilor diverse
-130
- 3O L SULYLQG LPSR]LWHOH DVXSUD SURILWXOXL
-100
__________________________________________________________________
)OX[XO QHW GH WUH]RUHULH UHODWLY OD DFWLYLW LOH GH H[SORDWDUH  $ 
+2280
)OX[XULOH GH WUH]RUHULH UHIHULWRDUH OD DFWLYLW

LOH GH LQYHVWL LL

- Achizi ionarea unui utilaj

3100
__________________________________________________________________
)OX[XO QHW GH WUH]RUHULH UHODWLY OD DFWLYLW LOH GH LQYHVWL ii ( B )
3100
)OX[XULOH GH WUH]RUHULH UHIHULWRDUH OD DFWLYLW

LOH GH ILQDQ DUH

 &UHWHUHD GH FDSLWDO vQ QXPHUDU

1220
- Rambursarea de mprumuturi
750
- 'LYLGHQGH SO WLWH
200
__________________________________________________________________
= Fluxul neW GH WUH]RUHULH UHODWLY OD DFWLYLW LOH GH ILQDQ DUH  & 
+ 270
'LPLQXDUHD QHWD D OLFKLGLW

LORU  $  %  & 

550
+900
__________________________________________________________________
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 /LFKLGLW

L OD GHVFKLGHUHD H[HUFL LXOXL 1

L OD vQFKLGHUHD H[HUFL LXOXL 1



Concluzie:
5H]XOW

vQ DQXO FXUHQW 1 vQWUHSULQGHUHD vQUHJLVWUHD]

IOX[XOXL GH H[SORDWDUH $ OLFKLGLW

DFWLYLW

OD QLYHOXO

L vQ YDORDUH GH  PLO OHL FD XUPDUH D

LL UHQWDELOH GHVI XUDWH

)OX[XO

GH

WUH]RUHULH

GLQ

RSHUD LLOH

GH

LQYHVWL LL

necesarul de trezorerie (3100 mil. lei) geneUDW

HYLGHQ LD]

GH LQYHVWL LD HIHFWXDW

ILUP

F WUH

DFHWLD

GH

SHQWUX DFKL]L LRQDUHD XQXL XWLODM 'H DVHPHQHD

, VH FRQVWDW F DFHVW
necesar de trezorerie nu poate fi acoperit integral de fluxul de trezorerie
GHJDMDW GH DFWLYLWDWHD FXUHQW  $VWIHO VH DSHOHD]
OD R PDMRUDUH GH FDSLWal
SULQ DSRUWXO YHFKLORU DF LRQDUL, concomitent cu distribuirea de dividende
3HQWUX

VSRUL

vQFUHGHUHD

DF LRQDULORU

vQ

FDSDFLWDWHD

GH

dezvoltare viitoare a firmei, se fac eforturi pentru rambursarea creditelor

bancare.
Q
WUH]RUHULD

FRQFOX]LH
GLQ

GHL

DFWLYLWDWHD

vQWUHSULQGHUHD
FXUHQW

RSHUD LLORU GH LQYHVWL LL DVWIHO DFH

HVWH

DUH

SHUIRUPDQ H

LQVXILFLHQW

asta este nevoit

DSHOH]H OD VXUVH H[WHUQH

GH ILQDQ DUH RE LQXWH SULQ PDMRUDUH GH FDSLWDO GHFL I U

DF LRQDULDWXOXL L HYLWkQG LQWHUYHQ LD H[WHUQ
'DWRULW

GHRVHELWH

pentru acoperirea
D PRG

ifica structura

vQ SURFHVXO GH OXDUH D GHFL]LLORU

VWUXFWXULL L PHWRGRORJLHL GH vQWRFPLUH D WDEORXOXL IOX[XULORU

GH WUH]RUHULH DFHVWD SHUPLWH XWLOL]DWRULORU VLWXD LLORU ILQDQFLDUH XUP WRDUHOH

Hvalueze capacitatea ntreprinderii de a deJDMD

special din activitatea de exploatare;

GHWHUPLQH QHFHVLW

SUHYDG

VF

FRPSDUH

LOH GH OLFKLGLW

aden HOH L ULVFXO vQFDV

UH]XOWDWHOH

OLFKLGLW

L

vQ

L
ULORU YLLWRDUH

vQWUHSULQGHULL

SULQ

HOLPLQDUHD

HIH

ctelor

utiliz rii diferitelor metode contabile (de amortizare etc.).

'HL

WDEORXO

IOX[XULORU

GH

WUH]RUHULH

VROYDELOLWDWHD L IOH[LELOLWDWHD ILQDQFLDU

RIHU

LQIRUPD LL

XWLOH

GHVSUH

D ILUPHL ILLQG PXOW PDL UHOHYDQW

dect indicatorii de echilibru financiar, fondul de rulment, nevoia de fond de

UXOPHQW L WUH]RUHULD QHW  acesta SUH]LQW
DQXPLWH OLPLWH OHJDWH GH GHILQLUHD
L UROXO WUH]RUHULHL FRQ LQXWXO IXQF LHL GH H[SORDWaUH L PRGXO GH FDOFXO DO
IOX[XULORU DVRFLDWH DFHVWHLD HYDOXDUHD SHUIRUPDQ HORU SULQ intermediul
IOX[XULORU GH WUH]RUHULH SUHFXP L vQ LQVXILFLHQ D DFHVWXLD GH D DSUHFLD L
SUHYL]LRQD HYROX LD VLWXD LHL ILQDQFLDUH SH WHUPHQ OXQJ D XQHL ILUPH

ntreb
1.

UL L DSOLFD LL

&DUH HVWH XWLOLWDWHD ELODQ XOXL SDWULPRQLDO ILQDQFLDU L D FHO

ui IXQF ional

n analiza sitXD iei financiare a ntreprinderii?

2.

&DUH

VXQW

SULQFLSDOHOH

FRUHF LL

GH

DFWLY

SDVLY

HIHFWXDWH

SHQWUX

RE LQHUHD ELODQ XOXL SDWULPRQLDO ILQDQFLDU

3.

&XP

VH

GHWHUPLQ

SDWULPRQLXO

QHW

FDUH

VXQW

F LOH

GH

FUHWHUH

acestuia?
4.

VH FDOFXOH]H L V

VH LQWHUSUHWH]H HYROX LD SDWULPRQLXOXL QHW SH ED]D

XUP WRDUHORU GDWH

%,/$1

= mil. lei =

ACTIV

N-1

PASIV

N-1

Activ imobilizat net

Stocuri

3800
1750
940
120

3550
2100
1700
340

Capital social
Rezerve
Rezultatul net
nerepartizat
Datorii
financiare
pe
termen lung
Datorii furnizori
Credite bancare
curente

3000
500
800

3000
600
850

1500

2200

1750
940

1900
860

TOTAL PASIV

6610

7690

&OLHQ L
'LVSRQLELOLW

TOTAL ACTIV

5.

6610

&XP LQWHUSUHWD L HYROX

GH DFWLY VH PDMRUHD]

6.

7690

&XP VH GHWHUPLQ

ia patrimoniului net n siWXD LD vQ FDUH HOHPHQWHOH

Fu 7% iar datoriile totale cu 2%?

LQGLFDWRULL GH HFKLOLEUX ILQDQFLDU IRQGXO GH UXOPHQW

QHYRLD GH IRQG GH UXOPHQW L WUH]RUHULD QHW

7.

&DUH VXQW HOHPHQWHOH FDUH LQIOXHQ HD]

VHPQLILFD LH HFRQRPLF

DU

QHYRLD GH IRQG GH UXOPHQW L FH

e un nivel constant al acesteia?

8.

Q FH FRQGL LL QHYRLD GH IRQG GH UXOPHQW L WUH]RUHULD QHW

QHJDWLYH L FDUH HVWH VHPQ ILFD LD HFRQRPLF

9.

DX YDORUL

D DFHVWXL IDSW

/D  DQXO 1 ELODQ XO XQHL vQWUHSULQGHUL DUH XUP WRDUHD VWUXFWXU 

%,/$1

= mil. lei =

ACTIV

N-1

PASIV

N1

55
950
350
550
310
325
-

50
900
400
600
300
350
25

Capital social
Rezerve
Rezultatul exercitiului
nerepartizat
Provizioane
pentru

800
137
70
35

800
140
85
40

20
60

12
70

1005
400
110
40
8
15

1100
360
100
55
7
20

2620

2707

,PRELOL] UL QHFRUSRUDOH
,PRELOL] UL FRUSRUDOH
,PRELOL] UL ILQDQFLDUH

Stocuri
&OLHQ L

Efecte de ncasat
,PSR]LWH

WD[H

GH

ncasat
'HELWRUL GLYHUL
'LVSRQLELOLW

ULVFXUL L FKHOWXLHOL

Datorii financiare pe
termen lung
Datorii furnizori
(IHFWH GH SODW
79$ GH SODW

CreditRUL GLYHUL
Credite
bancare
curente
2620

TOTAL ACTIV
6

VH FDOFXOH]H L V

2707 TOTAL PASIV

VH LQWHUSUHWH]H IRQGXO GH UXOPHQW QHW

global, nevoia

GH IRQG GH UXOPHQW L WUH]RUHULH QHW 

10. 3H

ED]D GDWHORU GH OD DSOLFDWLD  V

VH GHWHUPLQH FHOH GRX

FRPSRQHQWH

DOH QHYRLL GH IRQG GH UXOPHQW UHVSHFWLY FHD GH H[SORDWDUH L FHD vQ DIDUD

H[SORDW ULL

VH

H[SOLFH

FXP

HVWH

ILQDQ DW

QHYR

ia de fond de

rulment.
 )RUPXOD L SULQFLSDOHOH FRQFOX]LL SH ED]D XUP WRDUHORU GDWH

Indicele capitalui propriu = 116%

Indicele capitalului permanent = 110%
Indicele activelor imobilizate = 121%.

12. 3H

ED]D GDWHORU GLQ ELODQ XO XQHL VRFLHW

L FRPHUFLDOH V

VH DQDOL]H]H

HYROX LD VWUXFWXULL SDWULPRQLDOH L D VXUVHORU GH ILQDQ DUH

%,/$1

= mil.lei =
N -1

h f g 1(c b
f e d

q g#i1s %16#i
t d i d r q p f

h f g 1(c b
f e d

q t!A%!#i
g i d s i d r f

166.050

h f g 1(c b
f e d

Ct %1t1p A!#i

q i f r p f u f

112.100

TOTAL ACTIVE

PASIV

N-1

4.150

4700

Capital social

150.000

150.000

235.300

Rezerve

70.000

72.500

80.000

Rezultatul

24.050

25.250

282.300

320.000

2.740

2.500

249.790

250.250

70.450

66.800

125.250

147.230

80.500

85.000

60.100

58.000

265.850

290.230

586.090

607.280

f g
1 ! f %C!q
f r i q

ACTIV

nerepartizat

IMOBILIZATE

p q e
!RR

i R1f f
w p q s

Stocuri

127.500

130.500

f f f C!Pp f
w q

Clien i

141.050

118.140

TOTAL

3.280

3.360

CAPITAL

23.500

22.400

PROPRIU

1.320

5.600

296.650

280.000

p t q i
Crxq w g v

scurt
Titluri de plasament

Provizioane pentru
r f f i r f
1#!#R Ci

e pe termen

w f g 1e !1C Uy
f f p d s f

TOTAL ACTIVE

eltuieli

CIRCULANTE
7.140
Cheltuieli nregistrate n

7280

Credite bancare

7.140

7280

Furnizori

avans

Alte

CONTURI

termen scurt

datorii

pe

DE REGULARIZARE
b

v b v b

TOTAL
DATORII

TOTAL ACTIV

586.090

607.280

TOTAL PASIV

13. ([SOLFD L

vQ

FH

FRQVW

REOLJD LLORU XQHL VRFLHW

LPSRUWDQ D

DQDOL]HL

FRUHODWH

FUHDQ HORU

HYROX LD

FUHDQ HORU

L FRPHUFLDOH

14. 6 VH DQDOL]H]H SULQFLSDOHOH DVSHFWH

oEOLJD LLORU SH ED]D XUP toarelor date:

SULYLQG

mil. lei
Nr.
Indicatori
Crt.
1.
Cifra de afaceri
2.
&UHDQ H GLQ FDUH
FUHDQ H   DQ
FUHDQ H !  DQ
3.
2EOLJD LL GLQ FDUH
REOLJD LL  1 an
REOLJD LL !  DQ

15. ,QWHUSUHWD L XUP

Perioada
N-1
130.000
18.500
13.350
5.150
75.000
69.750
5.250

N
250.000
38.700
34.100
4.600
90.000
90.000
-

WRDUHD VLWXD LH

'XUDWD GH LPRELOL]DUH D FUHDQ HORU

 ]LOH

Durata de folosire a surselor atrase = 34 zile.

16. &DUH HVWH VHPQLILFD LD HFRQRPLF

D HYROX LHL LQGLFDWRULORU

Indicele cifrei de afaceri = 114%

,QGLFHOH VROGXOXL PHGLX DO REOLJD LLORU SH WHUPHQ VFXUW

17. &H UHIOHFW

18. &DOFXOD L

OLFKLGLWDWHD L VR



lvabilitatea unei ntreprinderi?

L LQWHUSUHWD L OLFKLGLWDWHD L VROYDELOLWDWHD XQHL ILUPH SH ED]D

GDWHORU GLQ ELODQ XO GH PDL MRV vQ UDSRUW FX VWDQGDUGHOH LQWHUQD LRQDOH

%,/$1

- mil. lei -

ACTIV

N-1

PASIV

N-1

Active imobilizate
Active circulante,
din care:
- Stocuri
- &UHDQ H
- 'LVSRQLELOLW L
b QHWL L SODVDPHQWH

3.250

3.800

Capital propriu
mprumuturi pe

4.600
2.920
1.460

4.220
2.150
1.570

WHUPHQ PHGLX L

220

500

TOTAL ACTIV

7.850

8.020

lung

3.500 3.150

650

VH GHWHUPLQ

DFHDVWD WUHEXLH V

400

)XUQL]RUL L DOWH
REOLJD LL FXUHQWH

3.600 4.390

Credite pe termen
scurt
TOTAL PASIV

100
7.850

19. 6 VH GHWHUPLQH UDWD VROYDELOLW LL SDWULPRQLDOH FXP DSUHFLD L

cazul n care aceasta este de 35%?
20. &XP

UDWD OLFKLGLW

80
8.020

VLWXD LD vQ

LL JHQHUDOH L FDUH VXQW OLPLWHOH vQ FDUH

VH vQFDGUH]H

21. Care sunt principalele rate utilizate pentru analiza echilibrului

economico-financiar al firmei ?
22. 'HILQL L

YLWH]D GH URWD LH D DFWLYHORU FLUFXODQWH L PHQ LRQD L LQGLFDWRULL

FDUH H[SULP

DFHVW FRQFHSW HFRQRPLF

23. $QDOL]D L YLWH]D GH URWD LH D DFWLYHORU FLUFXODQWH vQ ]LOH L

efectul modifiF ULL DFHVWHLD HOLEHUDUH VDX LPRELOL]DUH
FLUFXODQW vQ FXUVXO D GRX

GHWHUPLQD L
GH

FDSLWDO

H[HUFL LL ILQDQFLDUH FRQVHFXWLYH

mil. lei

Nr.
Indicatori
Crt.
1.
Cifra de afaceri
2.
Soldul mediu al activelor circulante,
din care:
Stocuri
&UHDQ H
'LVSRQLELOLW L E QHWL

Perioada
N-1
17.800

N
19.400

2.350
1.260
1.050
40

3.070
1.550
1.430
90

24. 6FULH L IRUPXOD L LQWHUSUHWD L LQIOXHQ D FX VHPQXO a activelor

circulante asupra viWH]HL GH URWD LH D DFHVWRUD GXUDWD vQ ]LOH D XQHL
URWD Li).
25. ,QWHUSUHWD L
indicatori:

VLWXD LD

XQHL

vQWUHSULQGHUL

Indicele cifrei de afaceri = 104%

Indicele activelor imobilizate = 102,5%
Indicele activelor circulante = 107%.

SH

ED]D

GLQDPLFLL

XUP WRULORU

6
ANALIZA GESTIUNII RESURSELOR UMANE
Munca
XPDQ

GHVI XUDW

UHSUH]LQW

IDFWRU

GH

SURGXF LH

DFWLYLWDWH

VSHFLILF

vQ VFRSXO RE LQHULL GH EXQXUL HFRQRPLFH

)XQF LRQDUHD
QHFRQFHSXW I U

FD

RULF UHL

DFWLYLW

HFRQRPLFR

-sociale

este

de

SUH]HQ D L LQWHUYHQ LD RPXOXL FDUH HVWH QX QXPDL SXUW WRUXO

XQRU QHYRL GH FRQVXP FL L SRVHVRU DO XQRU DELOLW

L FH L SHUPLW V

DF LRQH]H

n scopul satisfacerii acestor nevoi.

n analiza gestiunii resurselor umane la nivel microeconomic, se are
n vedere faptuO F PXQFD VH PDQLIHVW FD IDFWRU GH SURGXF LH QXPDL vQ VWDUH
DFWLY

L QX VXE IRUPD XQHL UHVXUVH VWRFDWH &D DWDUH SUREOHPDWLFD DQDOL]HL

VH FLUFXPVFULH OD DVLJXUDUHD

FDQWLWDWLY

L FDOLWDWLY

FX UHVXUVH

HILFLHQ D XWLOL] ULL DFHVWRUD $VSHFWH SULYLQG SLD D PXQFLL

FRUHOD LD GH]YROWDUH

SRSXOD LH SUHJ

XPDQH L

FHUHUH L RIHUW

WLUHD IRU HL GH PXQF  VXQW DERUGDWH OD

QLYHOXO PDFURHFRQRPLF L IDF RELHFWXO DOWRU GRPHQLL DOH WLLQ HL HFRQRPLFH

Q

FRQVHFLQ

SULQFLSDOHOH

SUREOHPH

FDUH

IDF

RELHFWXO

DQDOL]

ei

gestiunii resurselor umane sunt:

 'LQDPLFD HIHFWLYXOXL GH SHUVRQDO SH WRWDO L FDWHJRULL
1HFHVDUXO GH SHUVRQDO OD QLYHOXO vQWUHSULQGHULL VH VWDELOHWH vQ IXQF LH

de criterii specifice pentru fiecare categorie1

'LPHQVLRQDUHD

QXP UXOXL

GHRVHELW

SHUVRQDO

FRQVWLWXLH

SUREOHP

GH

UD LRQDO

LPSRUWDQW

D
vQ

@( "'8 " # )1 "9(7 (& @8@89 #'" (   "  8 $ #1 %"7 " ((6 (  
A  # # 0 $  
 # $ $ #  $ 
5(  " # )') # "% # 41%'  !3 2 %   )'1 #) ('& ""% # " !     
$  $ 
$
$ !
0
 # $



GH

XWLOL]DUHD HILFLHQW

L FUHDUHD FRQGL LLORU PDWHULDOH SHQWUX DF LXQHD vQWUHJXOXL

FRPSOH[ GH IDFWRUL PRWLYD LRQDOL

3HQWUX

GLPHQVLRQDUHD

UHVXUVHORU

XPDQH

VH

IRORVHVF

PDL

PXO L

indicatori, respectiv:

QXP UXO PD[LP GH VDODULD L DGLF

OLPLWD VXSHULRDU

vQVFULH ILUPD SHQWUX XWLOL]DUHD HILFLHQW

N max =

N 0 Iq
100

, n care Iq

vQ FDUH VH SRDWH

D IDFWRUXOXL PXQF 

UHSUH]LQW

,CA

sau Qa

SUHY ]XW

ID

GH

SHULRDGD SUHFHGHQW 

QXP UXO

metodologice MF 110-139/20.01.1998);
QXP UXO PHGLX GH SHUVRQDO OD LQGLFDWRUXO SUHFHGHQW VH DGDXJ
OXFUHD]

PHGLX

SH ED]

GH

VDODULD L

FX

FRQWUDFW

GH

PXQF 

1RUPH
FHL FDUH

GH FRQYHQ LH

efectivul scriptic de personal, care cuprinde totalitatea personalului

existent Q HYLGHQ D XQLW LL OD XQ PRPHQW GDW
efectivul scriptic prezent la lucru ntr-un anumit moment.

: N - GH UHJXO  VH FDOFXOHD] SH ED]D HIHFWLYXOXL VFULSWLF 6H RSWHD] L

pentru varianta efectivului prezent.
Dinamica efectivuluL GH SHUVRQDO SH WRWDO L FDWHJRULL DUH PHQLUHD GH
D SXQH vQ HYLGHQ
GLPHQVLXQHD SRWHQ LDOXOXL WHKQLF-HFRQRPLF OHJDW
GH
1RW

DFHVW IDFWRU GH SURGXF LH vQ UDSRUW GH UHDOL] ULOH SHULRDGHORU DQWHULRDUH L

QHFHVDUXO SUHVWDELOLW Q FRQVHFLQ

 VH VWDELOHWH PRGLILFDUHD DEVROXW

N),

SH WRWDO SHUVRQDO L FDWHJRULL

N = N1 N0,

n care:
N

QXP UXO GH SHUVRQDO PHGLX VDX VFULSWLF UHDOL]DW  L FHO GLQ

ED]D GH FRPSDUD LH 

3H

ED]D GDWHORU IXUQL]DWH GH

ntreprinderii,
(tabelul 6.1):

LQIRUPD LLOH

QHFHVDUH

GLUHF LD GH
DQDOL]HL

UHVXUVH XPDQH GLQ FDGUXO

SRW

IL

VWUXFWXUDWH

DVWIHO

Tabelul 6.1.
5HDOL] UL

Nr.
crt.
1.
a.
b.
c.
2.
a.
3.
4.
5.

Categorii de personal

Realizat

3UHY ]XW

SUHFHGHQW

Nr.
840

din care:
de cercetare
Personal
de

%
77,7

Nr.
710

%
83,2

62,0
10,8
8,0
12,5

505
80
60
125

60,8
9,6
7,3
15,1

570
78
62
85

66,8
9,1
7,3
10,0

6,7

90

10,8

68

7,6

70

6,7

60

7,2

58

6,8

1040

100

830

100

853

100

8800

3HUVRQDO WHKQLF L GH FHUFHWDUH

Nr.
645

70

GHVHUYLUH JHQHUDO

%
80,8

645
112
83
130

Muncitori,
din care:
direct productivi
indirect productivi

11440

11772

conducere

L DGPLQLVWUD LH

TOTAL PERSONAL
Cifra de afaceri mil.lei
SUH XUL FRPSDUDELOH

&RPSDUDWLY

3HULRDGD FXUHQW

perioada

FX

SHUVRQDOXOXL FX SHVWH 

SHULRDGD

SUHFHGHQW 

VH

SUHYHGH

UH

ducere a

 SHUVRDQH vQ FRQGL LLOH HVWLP ULL XQHL FUHWHUL

D FLIUHL GH DIDFHUL vQ SUH XUL FRPSDUDELOH FX 

 (YLGHQW R DVHPHQHD

VLWXD LH HVWH XUPDUHD XQRU P VXUL SUHFRQL]DWH GH VWUXFWXUDUH GH VSRULUH D

HILFLHQ HL HFRQRPLFH $FHVW OXFUX SRDWH IL SXV vQ HYLGHQ

L SULQ PRGLILF ULOH

SUHY ]XWH D VH SURGXFH vQ VWUXFWXUD SHUVRQDOXOXL UHVSHFWLY PHQ LQHUHD XQHL

ponderi ridicate a muncitorilor direct productivi (n defavoarea celor indirect

SURGXFWLYL L GH GHVHUYLUH JHQHUDO  L D SHUVRQDOXOXL WHKQLF L GH FHUFHWDUH FX
R LPSRUWDQW

VFKLPEDUH vQ VWUXFWXUD DFHVWXLD

/D VIkULWXO H[HUFL LXOXL SUHYHGHULOH VXQW UHDOL]DWH SDU LDO FX XQHOH

DFFHQWH QHJDWLYH FXP DU IL GH H[HPSOX VF GHUHD FRQVLGHUDELO

de cercetare.
ntr-R
PHQ LRQHD]

DVHPHQHD

VLWXD LH

vQ

DFWLYLWDWHD

SUDFWLF

D SHUVRQDOXOXL
GH

DQDOL]

VH

FDX]HOH FDUH DX FRQGXV OD QHUHDOL]DUHD P VXULORU SUHFRQL]DWH FX

SUHFL]DUHD JUDGXOXL GH LPSOLFDUH GLUHFW

YHGHUHD vQWUHSULQGHULL P VXULORU FDUH VH

D FRPSDUWLPHQWHORU U VSXQ] WRDUH vQ

impun n cadrul gestiunii interne a

ntreprinderii.
Q FD]XO HIHFWX ULL XQRU VWXGLL GH VXELHF L GLQ DIDUD XQLW
DQDOL]HL

VH

FRQVWDW

VLWXD LD

GDW 

I FkQGX VH

vQV

LL vQ FDGUXO

FRPSDUD LL

FX

XQLW

VLPLODUH vQ FHHD FH SULYHWH QXP UXO L VWUXFWXUD SHUVRQDOXOXL L QLYHOXO GH

productivitate.

$D GH H[HPSOX DQDOL]D VWUXFWXULL SHUVRQDOXOXL SRDWH YL]D JUXSDUHD

DFHVWXLD vQ IXQF LH GH PHVHULH YkUVW  YHFKLPHD WRWDO

vQ PXQF  VWDJLXO vQ

FDGUXO vQWUHSULQGHULL L DOWH FULWHULL ILHFDUH DYkQG R VHPQLILFD LH

proprie n

DSUHFLHUHD VLWXD LHL H[LVWHQWH OD XQ PRPHQW GDW

3HQWUX
DFHVWXLD

SRDWH

SHUVRQDOXO
IL

SURGXFWLY

XUP ULW

vQ

FRUHOD LH

GH

GHVHUYLUH

FX

HYROX LD

JHQHUDO 

SURGXFWLYLW

GLQDPLFD
LL

stabilindu-VH DVWIHO R PRGLILFDUH UHODWLY SH ED]D UHOD LHL

N - N x IQ

$VWIHO vQ H[HPSOXO GDW FRPSDUDWLY FX SHULRDGD SUHFHGHQW

PXQFLL

-a

SUHY ]XW

645 840

11440
= 447 persoane
8800

5HDOL] ULOH VXQW XUP WRDUHOH

710 840

710 645
vQVHDPQ

11772
= 414 SHUVRDQH ID
8800

GH SHULRDGD SUHFHGHQW

11772
= + 46 persoane, comparativ cu prevederile, ceea ce
11441

SURGXFWLYLWDWHD

SUHYHGHULOH IDSW FH VH UHIOHFW

 $QDOL]D VWDELOLW

Q OHJ WXU

GLUHFW

PXQFLL

QX

FUHVFXW

vQ

FX

LL SHUVRQDOXOXL

FX GLQDPLFD SHUVRQDOXOXL HVWH VWDELOL

tatea acestuia

vQ FDGUXO vQWUHSULQGHULL FDUH FRQVWLWXLH R FRQGL LH LPSRUWDQW

HILFLHQW

FRQIRUPLWDWH

QHJDWLY vQ FRVWXO SURGXF LHL

SHQWUX XWLOL]DUHD

D IRU HL GH PXQF 
0RELOLWDWHD IRU HL GH PXQF

DSDUH DWkW VXE IRUPD LQWU ULORU FkW L D

LHLULORU LQGLIHUHQW GH FDX]D JHQHUDWRDUH 7RWXL WUHEXLH V

VH IDF

GLVWLQF LH

vQWUH FLUFXOD LH L IOXFWXD LH

&LUFXOD LD IRU HL GH PXQF
XQHL

SHULRDGH

LQWU UL

LHLUL

UHSUH]LQW

PLFDUHD SHUVRQDOXOXL vQ FXUVXO

GHWHUPLQDW

GH

SHQVLRQDUH GHFHVH WUDQVIHUXUL UHVWUkQJHUHD DFWLYLW

FDX]H

VRFLDO

-economice

LL etc.).
Pentru caracterizarea acestui fenomen se folosesc indicatorii:
Intrari in cursul perioadei
FRHILFLHQWXO LQWU ULORU
;
Numarul mediu de personal
Plecari in cursul perioadei
FRHILFLHQWXO SOHF ULORU
;
Numar mediu de personal

FRHILFLHQWXO PLF ULL WRWDOH

Intrari + Iesiri
.
Numar mediu de personal

Q FDGUXO SOHF ULORU SRDWH IL UHPDUFDW

IOXFWXD LD IRU HL GH PXQF  FD XQ

IHQRPHQ QHQRUPDO UHSUH]HQWkQG SOHF ULOH GLQ vQWUHSULQGHUL I U

DSUREDUHD

FRQGXFHULL vQWUHSULQGHULL VDX FD XUPDUH D QHUHVSHFW ULL OHJLVOD LHL PXQFLL

&RHILFLHQWXO

GH IOXFWXD LH VH VWDELOHWH FD UDSRUW vQWUH

totalul celor

SOHFD L GLQ FDX]HOH PHQ LRQDWH L QXP UXO PHGLX GH SHUVRQDO

Tabelul 6.2.
N.
crt.
1.
2.
3.

Indicatori

P0

1XP U PHGLX GH SHUVRQDO

1040
156
343
143
0,15
0,33
0,14
0,48

1XP UXO PHGLX DO LQWU ULORU

1XP UXO PHGLX DO SOHF ULORU
GLQ FDUH IOXFWXD LL

4.
5.

&RHILFLHQWXO LQWU U

6.

&RHILFLHQWXO PLF ULL WRWDOH

ilor

&RHILFLHQWXO SOHF ULORU

GLQ FDUH IOXFWXD LL

5H]XOW

P1
853
170
357
160
0,20
0,42
0,19
0,62

GLQ SXQFW GH YHGHUH DO VWDELOLW

vQWUXFkW D FUHVFXW PLFDUHD WRWDO

LL VLWXD LD V D vQU XW

LW

L IOXFWXD LD

(IHFWXDUHD XQRU VWXGLL FX FDUDFWHU VRFLRORJLF SRW SXQH vQ HYLGHQ

DVSHFWH SULYLQG LQWHQ LLOH SHUVRQDOXOXL vQ FHHD FH SULYHWH U PkQHUHD VDX QX vQ

FDGUXO

vQWUHSULQGHULL

FX

PRWLYD LD

UHVSHFWLY 

$VHPHQHD

DVSHFWH

WUHEXLH

cunoscute de conducerea ntreprinderii, n formularea politicii de personal.

 $QDOL]D FDOLILF ULL IRU HL GH PXQF

1LYHOXO GH FDOLILFDUH D SHUVRQDOXOXL UHSUH]LQW
LPSRUWDQW

$QDOL]D
UHVSHFWLY

FDOLILF ULL

FDUDFWHUL]DUHD

IRU HL

GH

VLWXD LHL

PXQF

VROX LRQDUHD

SULPXOXL

YL]HD]

FDOLILF ULL

DFHVWXLD L PRGXO vQ FDUH HVWH XWLOL]DW

Q

R SUREOHP

vQ GLPHQVLRQDUHD SURGXF LHL L HYROX LD SURGXFWLYLW

OD

GRX

XQ

VH

SRDWH

DVSHFWH

PRPHQW

IRU D GH PXQF

DVSHFW

DEVROYHQ L DL FROLORU SURIHVLRQDOH

XFHQLFL OD ORFXO GH PXQF 

DEVROYHQ L DL OLFHHORU GH VSHFLDOLWDWH

GH

GDW

ED] 

HYROX LD

FDOLILFDW 
D

vea n vedere structura

SHUVRQDOXOXL SH IRUPH GH SUHJ WLUH L SHUIHF LRQDUHD IRU HL GH PXQF

cum ar fi:

GHRVHELW GH

L PXQFLL

FDOLILFDW 

DEVROYHQ L DL vQY

PkQWXOXL VXSHULR

r;

DEVROYHQ L DL XQRU FXUVXUL GH VSHFLDOL]DUH HWF

3HQWUX FDUDFWHUL]DUHD VLQWHWLF

VH XWLOL]HD]

K=
n care:

D QLYHOXOXL GH FDOLILFDUH D SHUVRQDOXOXL

FRHILFLHQWXO FDOLILF ULL PHGLL . VWDELOLW SH ED]D UHOD LHL

(n k ) ,
n

n QXP UXO GH SHUVonal pe categorii de ncadrare;

k = categoria de ncadrare (n cazul n care se folosesc denumiri de

FDWHJRULH VSHFLDO

VXSHULRDU

HWF VH SURFHGHD]

OD R FRGLILFDUH D DFHVWRUD

Q FHHD FH SULYHWH PRGXO GH IRORVLUH D IRU HL GH PXQF

poate XWLOL]D FRHILFLHQWXO GH FRQFRUGDQ

Kc =

n care:
Kl

UHOD LHL

VH

K
,
Kl

FRHILFLHQWXO GH FRPSOH[LWDWH DO OXFU ULORU VWDELOLW FX DMXWRUXO

Kl =
n care:

FDOLILFDW

.F FDOFXODW SH ED]D UDSRUWXOXL

(Nh t ) ,
Nh

1K

QXP UXO GH RUH QRUPDWH UHDOL]D

FDWHJRULD GH vQFDGUDUH D OXFU ULORU

te pe categorii de ncadrare a

OXFU ULORU

([HPSOLILFDUHD PHWRGRORJLHL GH DQDOL]

LQIRUPD LL WDEHOXO 

Categoria de ncadrare a
personalului respectiv a

1XP U PX

LPSOLF

ncitori

XUP WRDUHOH

Tabelul 6.3.
Ore normate realizate

OXFU WRULORU

I
II
III
IV
V
VI
VII
TOTAL
(n k)
(Nh t)

P0
207
161
213
191
40
24
4
840
2.304
x

P1
209
129
168
148
32
19
5
645
1.872
x

P0
66.053
87.084
70.069
26.110
11.558
3.782
1.580
266.236
x
646.410

P1
46.080
69.015
48.840
21.160
9.600
3.040
2.000
200.035
x
496.710

2304
= 2,74
840
1872
K1 =
= 2,9
645
2,74
Kc 0 =
= 1,13
2,43

646410
= 2,43
266236
496710
Kl1 =
= 2,48
200035
2,9
Kc1 =
= 1,17
2,48

K0 =

5H]XOW

Kl 0 =

vQWUHSULQGHUHD DUH XQ VXUSOXV GH IRU

GH PXQF

FDOLILFDW 

vQ UDSRUW GH QLYHOXO WHKQLF DO OXFU ULORU FDUH WUHEXLH UHDOL]DWH IDSW FH FRQGXFH
OD R FUHWHUH UHODWLY

D FKHOWXLHOLORU FX VDODULLOH FX HIHFWHOH FRUHVSXQ] WRDUH

asupra ntregului sistem de indicatori economico-financiari.

 $QDOL]D XWLOL] ULL WLPSXOXL GH PXQF

8WLOL]DUHD LQWHJUDO

D WLPSXOXL GH PXQF

UHSUH]LQW

XQD GLQ ODWXULOH

LPSRUWDQWH DOH IRORVLULL HILFLHQWH D IDFWRUXOXL PXQF 

5HDOL]DUHD
IRORVLUHD FRPSOHW

XQHL

SURGXF LL

FX PD[LP

FkW

HILFLHQ

PDL

(FRQRPLVLUHD WLPSXOXL GH PXQF

SRDWH UHDOL]D SH GRX

a)
b)

PDUL

HVWH

QHPLMORFLW

OHJDW

GH

D IRQGXOXL GH WLPS GH PXQF 

vQ FXUVXO SURFHVXOXL GH SURGXF LH VH

F L

SH FDOH H[WHQVLY  SULQ UHGXFHUHD SLHUGHULORU GH WLPS vQ ]LOH VDX vQ RUH

SH FDOH LQWHQVLY  SULQ UHGXFHUHD FKHOWXLHOLORU GH WLPS GH PXQF

GH SURGXV FUHWHUHD SURGXFWLYLW

LL PXQFLL

$QDOL]D IRORVLULL WLPSXOXL GH PXQF

H[LVWHQWH

SH

OLQLD

XWLOL] ULL

SH XQLWDWH

FRPSOHWH

XUP UHWH GHVFRSHULUHD UH]HUYHORU

WLPSXOXL

GLVSRQLELO

SUHFXP

FDX]HORU XWLOL] ULL LQFRPSOHWH D DFHVWXLD HYLGHQ LLQG HIHFWHOH HFRQRPLFH DOH
PRELOL] ULL UH]HUYHORU H[LVWHQWH
Q DFHVW VFRS VH DUH vQ YHGHUH HYROX LD SRQGHULL WLPSXOXL HIHFWLY vQ

fondul de timp maxim disponibil, comparativ cu perioadele precedente sau cu

DOWH XQLW L FDOFXOkQGX-se gradul de utilizare a fondului maxim disponibil
(Guf) raportnd timpul efectiv lucrat (Te) la fondul de timp maxim disponibil
(Tmax).
Te
Guf =
100
T max

Tabelul 6.4
- ore Nr.
crt.
1.
2.
3.

P0

Indicatori

ore
1.579.200
1.493.520
85.680

Timp maxim disponibil

Timp efectiv lucrat
Timp nelucrat,
din care:

concedii medicale

concedii maternitate

evenimente

DEVHQ H QHPRWLYDWH

cauze independente de
VDODULD L OLSV

100
94,6
5,4

21.420
4.284
3.427
5.147
34.272
17.130

DFFLGHQWH GH PXQF

P1
ore
1.334.800
1.293.620
41.180

25
5
4
6
40
20

%
100
96,9
3,1

8.236
1.647
827
1.647
18.531
10.295

20
4
4
45
25

PDWHULH

SULP  RSULUL DFFLGHQWDOH

etc.)
5H]XOW R FUHWHUH D JUDGXOXL GH XWLOL]DUH D IRQGXOXL PD[LP GLVSonibil,
ceea ce este un rezultat pozitiv. S-DX SURGXV VFKLPE UL L vQ VWUXFWXUD WLPSXOXL
nelucrat, respectiv, sporirea timpului nelucrat din cauze independente, ceea ce
GHQRW

GHILFLHQ H GH PDQDJHPHQW

n cadrul analizei, un accent deosebit se pune pe stabilitatea cauzelor

FDUH DX GHWHUPLQDW XWLOL]DUHD LQFRPSOHW
VHQV

VH

XUP UHWH

VWUXFWXUD

WLPSXOXL

D WLPSXOXL PD[LP GLVSRQLELO Q DFHVW

QHXWLOL]DW

SH

FDX]H

LQGHSHQGHQWH

GH

SHUVRQDO L GHSHQGHQWH GH DFHVWD

n cadrul celei de-D

GRXD JUXSH R DWHQ LH GHRVHELW

WUHEXLH DFRUGDW

WLPSXOXL QHOXFUDW GLQ FDX]D JUHYHORU FRQIOLFWHORU GH PXQF  VWDELOLQGX

-se

QXP UXO PHGLX GH ]LOH GH JUHY  6F GHUHD DFHVWXL LQGLFDWRU PDUFKHD]

FUHWHUH D JUDGXOXL GH VDWLVIDFHUH D UHYHQGLF ULORU VLQGLFDOH MXVWLILFDWH L vQ

consecin R
care decurg.

vPEXQ W

0RGLILFDUHD

LUH D FOLPDWXOXL VRFLDO GH PXQF  FX HIHFWHOH SR]LWLYH

JUDGXOXL

GH

XWLOL]DUH

WLPSXOXL

GH

PXQF

asupra:
a) YDORULL SURGXF LHL H[HUFL LXOXL
N1 (Nh1 Nh 0 )wh 0 ,
unde: Nh0 QXP UXO PHGLX GH RUH OXFUDWH
b) YDORULL DG XJDWH
N1 (Nh1 Nh 0 )wh 0 0 ,
n care:
0
YDORDUHD DG XJDW OD  OHX SURGXF LH D H[HUFL LXOXL

VH

UHIOHFW

c) cifrei de afaceri
N1 (Nh1 Nh 0 )wh 0

d)

CA 0
.
Qe0

UH]XOWDWXOXL H[SORDW ULL

N1 (Nh1 Nh 0 )wh 0 R 0 ,

n care:
R0 = profitul la 1 leu CA.
e) cheltuielilRU OD  OHL SURGXF LH SULQ LQWHUPHGLXO FKHOWXLHOLORU IL[H
F0
F0
1000
1000
N1 Nh1 wh 0
N1 Nh 0 wh 0
3ULQ LQWHUPHGLXO DFHVWRU LQGLFDWRUL LQIOXHQ HOH SRW IL H[WLQVH L DVXSUD

altora, cum ar fi:

UDWD UHQWDELOLW

indicatorL GH HILFLHQ

LL ILQDQFLDUH D FDSLWDOXOXL SHUPDQHQW L SURSULX

D HOHPHQWHORU GH DFWLY HWF

(IHFWHOH HFRQRPLFH DVXSUD LQGLFDWRULORU PHQ LRQD L SRW IL VHSDUDWH

SH ILHFDUH FDX]

vQ SDUWH FDUH D GHWHUPLQDW XWLOL]DUHD LQFRPSOHW

D WLPSXOXL

GH PXQF 
8WLOL]DUHD WLPSXOXL GH PXQF
HVWH LQIOXHQ DW
L GH gradul de
conflictualitate GLQWUH VDODULD L VLQGLFDWH L FRQGXFHUH 3HQWUX FDUDFWHUL]DUHD
XQHL DVHPHQHD VLWXD LL VH IRORVHVF PDL PXO L LQGLFDWRUL FXP VXQW

QXP U GH JUHYH GLQ FDUH

- spontane;
- de avertisment;
- generale.

QXP UXO WRWDO GH ]LOH JUHY

GXUDWD JUH

vei

QXP UXO GH SDUWLFLSDQ L

QXP UXO GH JUHYH

JUDGXO

GH

LPSRUWDQ

Numar de grevisti
.
Numar total de salariati
3HQWUX WRDW

JUHYHL

SHULRDGD VH UHFRPDQG

OD

QLYHOXO

vQWUHSULQGHULL

UHOD LD

Numar total de zile greva

.
Timpul maxim disponibil

QXP U PHGLX GH RUH JUHY

SH XQ JUHYLVW UHVSHFWLY S

e un salariat.

$JUDYDUHD VW ULL GH FRQIOLFWXDOLWDWH DUH LPSOLFD LL DVXSUD UHOD LLORU GH

colaborare a firmei cu partenerii.

 $QDOL]D HILFLHQ HL PXQFLL XWLOL] ULL UHVXUVHORU XPDQH

3HQWUX

FDUDFWHUL]DUHD

DQDOL]D

HILFLHQ HL

mXO L LQGLFDWRUL GLQWUH FDUH vQ SULQFLSDO VH XWLOL]HD]

productivitatea muncii;
profitul pe salariat.
3URGXFWLYLWDWHD PXQFLL HVWH GHILQLW
ILLQG

IRU D

factoruluL

SURGXFWLY

PXQF

PXQFLL

DGLF

PXQFLL

VH

IRORVHVF

PDL

vQ OLWHUDWXUD GH VSHFLDOLWDWH FD
DFHD

GH D FUHD vQWU R SHULRDG

FDSDFLWDWH

SRVLELOLWDWH

GH WLPS XQ DQXPLW YROXP GH

EXQXUL L GH D SUHVWD DQXPLWH VHUYLFLL

Q XOWLP
DQXPLW

LQVWDQ

 FDUDFWHUL]HD]

HILFLHQ D FX FDUH HVWH FKHOWXLW

FDQWLWDWH GH PXQF 
Q

FDGUXO

DQDOL]HL

SURGXFWLYLW

LL

PXQFLL

SRW

IL

LQGLYL

dualizate

XUP WRDUHOH SUREOHPH

 $QDOL]D SURGXFWLYLW

LL PXQFLL SH ED]D LQGLFDWRULORU YDORULFL L

fizici
Q SUDFWLF  SHQWUX DQDOL]D SURGXFWLYLW

indicatori pULQ
DQXPLW

FDUH

FKHOWXLDO

RE LQHUHD XQHL XQLW

VH
GH

H[SULP
PXQF 

ILH
ILH

LL

FDQWLWDWHD

FKHOWXLDOD

VH XWLOL]HD]
GH

GH

SURGXVH
PXQF

XQ VLVWHP GH
RE LQXWH

HIHFWXDW

FX

SHQWUX

L GH SURGXV

Q SULPXO FD] SURGXFWLYLWDWHD PXQFLL : VH H[SULP

YROXPXO SURGXF LHL 4 L FKHOWXLHOLOH GH PXQF

Q
W = , iar n cel de-DO GRLOHD FD] VH XWLOL]HD]
T

FD UDSRUW vQWUH

7 HIHFWXDWH
UDSRUWXO LQYHUV

W=

T
.
Q

FRPSOH L

naturali
LQFRPSOH L

Indicatori ai
SURGXFWLYLW

LL

muncii

DQXDO

valorici (W)

:D

3URGXF LD H[HUFL LXOXL

]LOQLF

:]

Cifra de afaceri

RUDU

:K

9DORDUHD DG XJDW

n raport de cheltuielile GH PXQF GHRVHELP

cnd cheltuielile de munF

SURGXFWLYLWDWHD DQXDO

VXQW H[SULPDWH

SULQ QXP UXO PHGLX VFULSWLF WRWDO SHUVRQDO VDX PXQFLWRUL

Wa =

SURGXFWLYLWDWHD ]LOQLF
FkQG
prin consumul de timp om-zile:

Wz =

Q
;
T

FKHOWXLHOLOH GH PXQF

Q
;
T(om zile)

SURGXFWLYLWDWHD RUDU
cnd FKHOWXLHOLOH GH PXQF
consumul de timp n om-ore:
Q
Wh =
.
T(om ore)
3HQWUX DQDOL]D GLQDPLFLL SURGXFWLYLW

valoULFL VXQW QHFHVDUH XUP

WRDUHOH

VXQW H[SULPDWH

VXQW H[SULPDWH SULQ

LL PXQFLL SH ED]D LQGLFDWRULORU

date:
Tabelul 6.5

Indicatori
Cifra de afaceri mil.lei

aV ha h c Yr qd1Ii
Y hg QX pT

ba s
(cQSa

11.772
853
191.925
1.381.860
225
7,2
13.800

102,9
102,8
x
x
97,83
92,31
100,13

aV ha h c Yr qd1Ii
Y hg QX pT

g Yc bs f
Y

59,23

61,33

103,55

aV ha h c Yr qd1Ii
Y hg QX pT

Ta
"Tp

7,59

8,52

112,25

Y a a (a"WQ Y)WUT S3P

YT b ` X V R R Q
Total om-zile lucrate
Total om-ore lucrate

V IQ V b Y%dWQ dXedcQ T S3P

haTg b f V X Y V R b R Q
Durata medie a zilei de lucru

(Wz mii lei)

9.

11.440
830
190.900
1.489.020
230
7,8
13.783

(Wa mii lei)

8.

Realizat

H G ED
IF (C B

Nr.
crt.
1.
2.
3.
4.
5.
6.
7.

(Wh mii lei)

5H]XOW

WR L

LQGLFDWRULL

YDORULFL

vQUHJLVWUHD]

QLYHOXO SUHY ]XW GDU vQ SURSRU LL GLIHULWH $VWIHO

FUHWHUL

ID

IWa < IWz FD XUPDUH D VF GHULL QXP UXOXL PHGLX GH ]LOH OXFUDWH LDU
IWz < IWh GDWRULW PLFRU ULL GXUDWHL PHGLL D ]LOHL GH OXFUX
Efectul acestor fenomene asupra productivLW LL DQXDOH SRDWH
vQ HYLGHQ
SH ED]D UHOD LHL :D
1] Nh Wh.
Q ED]D GDWHORU GLQ WDEHOXO  VLWXD LD VH SUH]LQW

GLQ FDUH GDWRULW

Wa = 13.800 13.783 = + 14 mii lei

DVWIHO

PRGLILF ULL

QXP UXOXL PHGLX GH ]LOH OXFUDWH

Nz1 Nh0 Wh0 Wa0 = 225 7,8 7,59 13.783 =

=13.320 13.783 = - 463 mii lei

GH

IL SXV

duratei medii a zilei de lucru:

Nz1 Nh1 Wh0 Nz1 Nh0 Wh0 = 225 7,2 7,59 13.320 =
= 12.296 13.320 = - 1024 mii lei

SURGXFWLYLW

LL RUDUH

Wa1 Nz1 Nh1 Wh0 = 13.800 12.296 = + 1.504 mii lei

8WLOL]DUHD LQFRPSOHW
FRQGXV

OD

FRQVWLWXLH

GLPLQXDUHD
R

UH]HUY

D WLPSXOXL GH PXQF  LQFOXVLY vQ FDGUXO ]LOHL D

LL

SURGXFWLYLW

FDUH

WUHEXLH

DQXDOH
ILH

FX

SXV


vQ

PLL

YDORDUH

OHL

FHHD

vQ

SHULRDGD

FH

XUP WRDUH

ntr-o

FHUFHWDUH

vQ

GHWDOLX

SRDWH

IL

DERUGDW

SUREOHPD

DQDOL]HL

SURGXFWLYLW

LL RUDUH ]LOQLFH L DQXDOH SULQ SULVPD VWUXFWXULL SURGXF LHL L D

SURGXFWLYLW

LL RUDUH SH SURGXVH VDX FDWHJRULL GH DFWLYLW

QHFHVDUH GDWHOH GLQ WDEHOXO XUP WRU

Produse
(grupa
de
produse)
A
B
C
D

Nr.
crt.
1.
2.
3.
4.

TOTAL
127

a)

3URGXFWLYLWDWHD RUDU

6WUXFWXUD SURGXF LHL

P0

L Q DFHVW VFRS VXQW

(tabelul 6.6.):

pe produse mii lei -

P1

20,5
18,0
30,0
31,5

15,0
21,0
25,0
39,0

100

P0

100

38,47

RUDU
UHFDOFXODW

P1
20
28
40
55

Tabelul 6.6
Productivitatea

(Wh)
38
27
43
52

42,40

3
5,88
10,00
21,45
40,33

SURGXFWLYLWDWHD RUDU

UHFDOFXODW

L SURGXFWLYLWDWHD RUDU

VH VWDELOHWH SH ED]D VWUXFWXULL HIHFWLYH

SH SURGXVH

Ex. A = 0,15 20 = 3 mii lei

b) 6WUXFWXUD SURGXF LHL VH GHWHUPLQ

SH ED]D HYDOX ULL SURGXF LHL vQ WLPS GH

PXQF 

Pentru P0, g 0 =

q0t 0
,
q0 t 0

n care:
t = timpul consumat pe produs;
q
FDQWLWDWHD IDEULFDW  UHVSHFWLY YkQGXW
de afaceri.

 GDF

VH RSHUHD]

FX FLIUD

Q FRQVHFLQ

 VH H[SOLF

 PRGLILFDUHD SURGXFWLYLW

LL RU

are de 3,93 mii lei (42,4

SULQ LQIOXHQ D

VWUXFWXULL SURGXF LHL

SURGXFWLYLW

Wh Wh0 = 40,33 38,47 = + 1,86 mii lei

LL RUDUH SH SURGXVH

Wh1 Wh = 42,4 40,33 = + 2,07 mii lei

'DWHOH DWHVW

IDSWXO F

GRDU 

GLQ FUHWHUHD SURGXFWLYLW

LL RUDUH

HVWH UH]XOWDWXO VSRULULL HILFLHQ HL SH SURGXVH UHVWXO ILLQG HIHFWXO RULHQW ULL
VSUH

SURGXVH

FDUH

QHFHVLW

PDQRSHU

PDL

UHGXV 

ID

GH

PHGLD

SH

ntreprindere.
1) 3HQWUX SURGXFWLYLWDWHD ]LOQLF VH DUH vQ YHGHUH UHOD LD
Wz = Nh Wh
n coQVHFLQ  IDFWRULL GH LQIOXHQ VXQW

durata medie a zilei de lucru

(Nh1 Nh0) Wh0

VWUXFWXUD SURGXF LHL

SURGXFWLYLWDWHD RUDU

Nh1 (Wh Wh0)

SH SURGXVH

Nh1 (Wh1 Wh)

,DU OD SURGXFWLYLWDWHD DQXDO

VH DQDOL]HD]

Wa = Nz Nh Wh

O asePHQHD
FRQFOX]LL
XQLW

DVXSUD

DSURIXQGDUH
PRGXOXL

LL vQ ED]D F URUD V

/LWHUDWXUD

SURGXFWLYLW

GH

GH

FHUFHW ULL

XWLOL]DUH

SHUPLWH

WLPSXOXL

GH

IRUPXODUHD

PXQF

vQ

GH

FDGUXO

VH DGRSWH GHFL]LLOH FRUHVSXQ] WRDUH

VSHFLDOLWDWH

SUH]LQW

LL PDUJLQDOH :P FDOFXODW

Q DFHVW IHO VH FXDQWLILF

FDQWLW

SH ED]D UHOD LHL

PRGDOLW

GH

DQDOL]

SH

ED]D

SH ED]D UHOD LHL

Q
Wm =
T

VSRUXO GH SURGXF LH RE LQXW SH VHDPD XQHL

L VXSOLPHQWDUH GH PXQF 
&X

DMXWRUXO

SURGXFWLYLW

LL

elastiFLWDWHD SURGXF LHL ( FDUH UHIOHFW

PDUJLQDOH

VH

SRDWH

FUHWHUHD SURFHQWXDO

R PRGLILFDUH FX XQ SURFHQW D IDFWRUXOXL GH PXQF 

Q
Q T
Wm
Q
E=
=

=
T
Q T
W
T

FDUDFWHUL]D

D SURGXF LHL OD

3H ED]D XQXL LU GH GDWH UH]XOWDWH vQ XUPD XQRU FHUFHW UL VH SRDWH VWDELOL

zona n care productivitatea

PDUJLQDO

DWLQJH YDORDUHD PD[LP  GXS

VSRULUH D IDFWRUXOXL PXQF  FRQGXFH OD R GLPLQXDUH D SURGXFWLYLW

$QDOL]D

SURGXFWLYLW

LL

UHOD LHL GLQWUH vQ]HVWUDUHD WHKQLF

PXQFLL

SRDWH

IL

DERUGDW

FDUH R

LL PHGLL
SULQ

SULVPD

L HILFLHQ D XWLOL] ULL ED]HL PD

teriale.
n acest scop pot fi folosite mai multe modele multiplicative:

a)

CA Mf CA
=

;
N
N Mf

b)

CA Nm Mf CA
;
=

N
N Nm Mf

c)

CA Mf Mf CA
;
=

Nm Nm Mf Mf

d)

CA Mf Mf Qe CA
.
=

N
N Mf Mf Qe

6HPQLILFD LD UDSRDUWHORU HVWH XUP WRDUHD

CA
= productivitatea
N

DQXDO

FDOFXODW

SH ED]D FLIUHL GH DIDFHUL vQ QXP UXO

PHGLX GH VDODULD L 1

Mf
N

JUDGXO GH vQ]HVWUDUH WHKQLF

FDOFXODW SH ED]D YDORULL PHGLL DQXDOH D

mijloacelor fixe (Mf);

CA
= randamentul mijloacelor fixe;
Mf

Nm
N

VWUXFWXUD SHUVRQDOXOXL vQ IXQF LH GH QXP UXO PHGLX GH PXQFLWRUL 1P

L WRWDOXO SHUVRQDOXOXL

Mf
Nm

JUDGXO GH vQ]HVWUDUH WHKQLF

active (Mf);

D PXQFLWRULORU vQ IXQF LH GH PLMORDFHOH IL[H

CA
= randamentul mijloacelor fixe active;
Mf

Mf
Mf

FRPSR]L LD WHKQRORJLF

6.5.2

Analiza

D FDSLWDOXOXL IL[

DOH

PRGLILF ULL

LL PXQFLL

0RGLILFDUHD SURGXFWLYLW
HYDOXHD]

economico-ILQDQFLDUH

efectelor

SURGXFWLYLW

LL PXQFLL DUH XQ FRPSOH[ GH H

fecte, care se

FX DMXWRUXO XQHL PHWRGRORJLL VWDELOLW

vQ IXQF LH GH PRGXO GH FDOFXO

L H[SULPDUH D DFHVWXLD
$VWIHO vQ FD]XO GHWHUPLQ ULL SH ED]D LQGLFDWRULORU YDORULFL SURGXF LD
H[HUFL LXOXL PRGLILFDUHD SURGXFWLYLW

a)

YDORDUHD DG XJDW 

n:

SURGXF LD H[HUFL LXOXL

b)

LL PXQFLL VH UHIOHFW

T1(Wh1 Wh0)
T1(Wh1 Wh0) 0

c) cifra de afaceri:
T1 ( Wh 1 Wh 0 )

CA 0
Qe 0

d) rezultatul aferent cifrei de afaceri:

T1 ( Wh 1 Wh 0 )
e)

CA 0
R0
Qe 0

FKHOWXLHOLOH FX SHUVRQDOXO OD  OHL FLIU

GH DIDFHUL &V

Cs 0
Cs 0
IW

n care:
IW
f)

VH FDOFXOHD]

SH ED]D UHOD LHL

FKHOWXLHOLOH IL[H OD  OHL FLIU

Wa1
100
Wa 0

GH DIDFHUL

F0
F0
1000
1000
T1Wh1
T1Wh 0

3ULQ LQWHUPHGLXO DFHVWRU LQGLFDWRUL VH SRW VWDELOL L HIHFWHOH SURSDJDWH

asupra altor indicatori economico-financiari.

([SULPDUHD SURGXFWLYLW

LL PXQFLL vQ XQLW

L QDWXUDOH FD GH H[HPSOX

timpul consumat pe unitate de produs, se poate determina prin efectul asupra:

a) costului pe unitate de produs:
chs 0
chs 0
IW
unde: chs0 = cheltuielile cu salariile;
t0
LQGLFHOH SURGXFWLYLW LL PXQFLL VWDELOLW SH ED]D UHOD LHL
.
IW
t1
b) profitul aferent produsului
chs0

I chs0 q1

 $QDOL]D HILFLHQ HL UHVXUVHORU XPDQH SH ED]D SURILWXOXL

pe salariat
Profitul pe salariat, resSHFWLY

UH]XOWDWXO GLQ H[SORDWDUH UHSUH]LQW

XQ

LQGLFDWRU VHPQLILFDWLY SHQWUX FDUDFWHUL]DUHD HILFLHQ HL PXQFLL vQWUXFkW SXQH vQ

HYLGHQ

OHJ WXUD

GLQWUH

vQ]HVWUDUHD

WHKQLF 

HILFLHQ D

XWLOL] ULL

productivitatea muncii. Literatura de specialitaWH UHFRPDQG

DFHVWHLD

PDL PXOWH PRGHOH

GH DQDOL]  $VWIHO

a)

RE CA RE
=


N
N CA

$FHVW

PXQFLL L UDWD UHQWDELOLW

PRGHO

H[SULP

RE T CA RE
=

; T UHSUH]LQW
N
N T CA
sau om-ore;
RE Mf Mf CA RE
c)
=

N
N Mf Mf CA
ED]D

DFHVWRU

GLQWUH

SURGXFWLYLWDWHD

LL FRPHUFLDOH

b)

FRUHOD LD

PRGHOH

SRDWH

activitatea de exploatare pe salariat.

IRQGXO GH WLPS H[SULPDW vQ RP

IL

DQDOL]DW

HYROX LD

SURILWXOXL

-zile

GLQ

 $QDOL]D SRVLELOLW

LORU GH VSRULUH D SURGXFWLYLW

3URGXFWLYLWDWHD PXQFLL HVWH LQIOXHQ DW

LL PXQFLL

GH XQ FRPSOH[

de factori, care

SRW IL JUXSD L vQ

a) factori privind introducerea progresului tehnic;

b) factori privind impactul managementului performant;
c) IDFWRUL GH QDWXU ELR-psiho-VRFLRORJLF 
Q

FDGUXO

ILHF UHL

JUXSH

tehnice RUJDQL]DWRULFH L GH DOW

muncii.
$D
PHFDQL] ULL

GH
L

H[HPSOX

QLYHOXOXL SURGXFWLYLW

LGHQWLILF

QDWXU

vQ

DXWRPDWL] ULL

VH

FDUH SRW

FDGUXO

DQXPLWRU

SULPHL
RSHUD LL

FXDQWLILF

GLIHULWH

P VXUL

FRQWULEXL OD VSRULUHD HILFLHQ HL

JUXSH
GLQ

VH

IOX[XO

FXDQWLILF

HIHFWXO

WHKQRORJLF

DVXSUD

LL SH SURGXVH L VWUXFWXUD RUJDQL]DWRULF 

n cadrul celei de-a doua grupe se pune un accent deosebit pe motivarea

VDODULD LORU FD IDFWRU HVHQ LDO DO vPEXQ W
QHFHVDU V

LULL SHUIRUPDQ HORU Q DFHVW VHQV HVWH

ILH XUP ULWH FkWHYD HOHPHQWH FXP VXQW

HYROX LD FRUHOD LHL GLQWUH GLQDPLFD SURGXFWLYLW

LL PXQFLL L D FkWLJXOXL

(salariului);

GLQDPLFD VDODULLORU vQ UDSRUW GH HYROX LD SUH XULORU EXQXULORU GH FRQVXP

curent;

UDSRUWXO GLQWUH VDODULXO PLQLP L PD[LP vQ P VXUD vQ FDUH HVWH I FXW

public);
raportul dintre diferite forme de salarizare (acord, regie, mixt etc.);

UDSRUWXO

GLQWUH

SDUWHD

IL[

YDULDELO

VDODULXOXL

XQRU

FDWHJRULL

GH

personal;

FRWD GH SDUWLFLSDUH D VDODULD LORU OD FDSLWDOXO VRFLDO DO vQWUHSULQGHULL

(YROX LD DFHVWRU LQGLFDWRUL HVWH GH QDWXU

SXQ

vQ HYLGHQ

JUDGXO

GH PRWLYD LH DO SHUVRQDOXOXL SHQWUX RE LQHUHD XQRU UH]XOWDWH VXSHULRDUH

Q FHHD FH SULYHWH D WUHLD JUXS  DFHDVWD HVWH FHD PDL FRPSOH[
GLILFLO

GH

FXDQWLILFDW

7RWXL

QXPHURDVH

VWXGLL

VRFLRORJLFH

DX

LGHQWLILFDW

VROX LL SUDFWLFH SHQWUX YDORULILFDUHD SRWHQ LDOXOXL VDODULD LORU vQ DFWLYLWDWHD SH

FDUH

GHVI RDU 

7UHEXLH

LQGLYLGXOXL LQIOXHQ HD]

YLD

 VRFLR

PHQ LRQDW

IDFWRUL GH QDWXU

IDSWXO
VRFLDO

DVXSUD

-culturale, mediul familial, FRQGL LLOH GH PXQF

$VLJXUDUHD GH F WUH DQJDMDWRU D

YHQLWXUL FRUHVSXQ] WRDUH DFWLYLW
VXQW GH QDWXU

SURGXFWLYLW

LL

FXP DU IL FRQGL LLOH GH

XQRU FRQGL LL

HWF

QRUPDOH GH PXQF 

LL GHSXVH SUHFXP L XQHOH IDFLOLW

VWLPXOH]H DFWLYLWDWHD ILHF UXL DQJDMDW

L VRFLDOH

$SOLFD LL L vQWUHE

1. 6
Nr.
crt.
1.
2.
3.
3.1.

LL SHUVRQDOXOXL WLLQG F 

An
precedent
250
17
54
21

Indicatori
1XP UXO PHGLX GH SHUVRQDO
,QWU UL vQ FXUVXO SHULRDGHL
3OHF UL LHLUL vQ FXUVXO SHULRDGHL
3OHF UL GLQ PRWLYH QHMXVWLILFDWH IOXFWXD LL

2.
PXQF

VH DQDOL]H]H HYROX LD VWDELOLW

UL

-persoane An
curent
254
19
21
5

VH GHWHUPLQH FRQVHFLQ HOH XWLOL] ULL LQFRPSOHWH D WLPSXOXL GH

DVXSUD

SULQFLSDOLORU

LQGLFDWRUL

HFRQRPLFR

ILQDQFLDUL

,QWHUSUHWDUHD

rezultatelor.
Nr.
crt.
1
2
3
4
5
6
7
8

Indicatori

Simbol

3URGXF LD H[HUFL LXOXL PLL OHL

9DORDUHD DG XJDW

PLL OHL

Cifra de afaceri (mii lei)

5H]XOWDWXO H[SORDW ULL PLL OHL

Suma cheltuielilor fixe (mii lei)

1XP UXO PHGLX GH VDODULD L SHUV
1XP UXO PHGLX GH RUH OXFUDWH
9DORDUHD DG XJDW

OD  OHX SURGXF LD

H[HUFL LXOXL

9
10

3URILWXO OD  OHX FLIU

H[HUFL L

11

GH DIDFHUL

&KHOWXLHOL IL[H OD  OHL SURGXF LD

P0

P1

Qe
Qa
CA
RE
F
Ns
Nh

10.495.800
2.099.160
10.550.000
1.250.000
3.200.000
210
1960

10.732.800
2.683.200
11.200.000
1.800.000
3.600.000
215
1920

R
Cf1000

ului (lei/1000)

3URGXFWLYLWDWHD PHGLH RUDU

D PXQFLL

Wh

SH ED]D SURGXF LHL H[HUFL LXOXL

FDOFXODW

(mii lei)

3.

SURGXFWLYLW

VH GHWHUPLQH LQIOXHQ D SURGXFWLYLW

LL PHGLL DQXDOH L V

minus: Wh = x mii lei .

4.

LL RUDUH D PXQFLL DVXSUD

VH LQWHUSUHWH]H FD]XO LQIOXHQ HL FX VHPQXO

VH GHWHUPLQH LQIOXHQ D JUDGXOXL GH vQ]HVWUDUH WHKQLF

DVXSUD SURGXFWLYLW

LL DQXDOH &D]XO LQIOXHQ HL FX VHPQXO  

D PXQFLL

5. &H VHPQLILFD LH Dre coeficientul de elasticitate?

6. Ce este prodXFWLYLWDWHD PDUJLQDO
7.

$QDOL]D

IDFWRULDO

SURGXFWLYLW

PXOWLSOLFDWLYH ,QWHUSUHWDUHD HFRQRPLF

Nr.
crt.
1
2
3
4
5
6
7
8
9
10
11
12
13

PXQFLL

XWLOL]kQG

PRGHOHOH

Indicatori

Simbol

P0

P1

Cifra de afaceri (mil lei)

Valoarea medie a mijloacelor fixe (mil lei)
Valoarea mijloacelor fixe active (mil lei)

CA
MF
MF
Qe
N
Nm
T
Wh
Qa
Pr
Cs
F

30500
20400
15300
31000
280
210
514500
59,28
10850
3050
10080
6750

34000
22000
17600
33500
275
198
543400
62,57
10050
4080
10230
8840

3URGXF LD H[HUFL LXOXL PLO OHL

1XP UXO PHGLX GH SHUVRQDO SHUV
1XP UXO PHGLX GH PXQFLWRUL SHUV

FRQGXO WRWDO GH WLPS GH PXQF

3URGXFWLYLWDWHD PHGLH RUDU
9DORDUHD DG XJDW

RUH

-om)

PLL OHL

PLO OHL

Profitul aferent cifrei de afaceri (mil lei)

Cheltuieli cu personalul (mil lei)
Cheltuieli fixe (mil lei)
&RPSR]L LD WHKQRORJLF

MF
MF

D FDSLWDOXOXL IL[

15
16

3URILWXO OD  OHX FLIU

17

LL

D UH]XOWDWHORU

Cheltuieli cu personalul la 1000 lei CA

(lei/1000)
Cheltuieli fixe la 1000 lei CA (lei/1000)

14

"

CF1000

Pr
CA
Pr
N

GH DIDFHUL

Profitul pe salariat (mil lei/pers)

8.

Cs1000

3H ED]D GDWHORU GLQ WDEHOXO GH OD DSOLFD LD QU  V

PRGLILFDUHD
ILQDQFLDUL L V

SURGXFWLYLW

LL

RUDUH

vQ

SULQFLSDOLL

VH VWDELOHDVF

LQ

dicatori economico-

VH LQWHUSUHWH]H LQIOXHQ HOH DFHVWHLD

9. 8WLOL]kQG LQGLFDWRULL SUH]HQWD L vQ WDEHOXO GH OD DSOLFD LD QU  V

VH

DQDOL]H]H IDFWRULDO HILFLHQ D UHVXUVHORU XPDQH SH ED]D SURILWXOXL SH VDODULDW

folosind modelele multiplicative.

10. ,QWHUSUHWD L HFRQRPLF XUP

a)

WRDUHOH VLWXD LL

:K

SURGXFWLYLWDWHD RUDU

IRQGXO WRWDO GH WLPS GH PXQF

D PXQFLL

IWh = 112%
IT = 98%

unde:

b)

IN = 98%
IRE = 107%

unde:

N
QXP UXO PHGLX GH SHUVRQDO
RE = rezultatul exploDW ULL

c)

ICA = 110%
ICH = 107%
IN = 95%

unde:

CA = cifra de afaceri
CH = cheltuielile aferente cifrei de afaceri

d)

IWz = 104%
IWh = 107%
IWa = 104%
IWh = 101%

unde:

:]

SURGXFWLYLWDWHD PHGLH ]LOQLF

D PXQFLL

unde:

Wa = productivitatea meGLH DQXDO

D PXQFLL

f)

IImax = 98%
ITe = 102%

unde:

Tmax = timpul maxim disponibil

Te = timpul efectiv lucrat

g)

IKi = 104%
IKe = 103%

unde:

Ki
Ke

FRHILFLHQWXO SOHF ULORU GH SHU

INz = 94%

unde:

Nz =

QXP UXO PHGLX GH ]LOH OXFUDWH GH R SHUVRDQ

e)

h)

FRHILFLHQWXO LQWU ULORU GH SHUVRQDO

ntr-un an
IWh = 108%
IWa = 109%

sonal

7
ANALIZA GESTIUNII ACTIVELOR FIXE
(ILFLHQ D
F UXL

YLDELOLWDWHD XQHL ILUPH vQWU R HFRQRPLH FRQFXUHQ LDO 

L GH P VXUD vQ FDUH DFHDVWD GLVSXQH GH XQ SRWHQ LDO PDWHULDO

HVWH DVLJXUDW
DO

SDUDPHWUL

HFRQRPLHL GH SLD

WHKQLFL

IXQF LRQDOL

FRUHVSXQG

QRLORU

H[LJHQ H

DOH

$FHDVWD SUHVXSXQH H[LVWHQ D XQRU PLMORDFH WHKQLFH FRUHVSXQ] WRDUH

FD YROXP VWUXFWXU  FDOLWDWH FDUH V
SURGXF LL FDUH V

RIHUH ILUPHL SRVLELOLWDWHD UHDOL] ULL XQHL

DVLJXUH QHYRLOH SLH HL LQWHUQH L LQWHUQD LRQDOH FRPSHWLWLYH

L HILFLHQWH
3ULQFLSDOHOH SUREOHPH DOH DQDOL]HL XWLOL] ULL PLMORDFHORU DFWLYHORU
IL[H VXQW XUP WRDUHOH

DQDOL]D

YROXPXOXL

PDWHULDOL]DW

vQ

VWUXFWXULL

PLMORDFH

performaQ HOH GH ED]

DQDOL]D

SRWHQ LDOXOXL

FDOLW

LL

SRWHQ LDOXOXL

SDWULPRQLDOH

WHKQLF
D

DO

ILUPHL

UHIOHFW ULL

vQ

UHIOHFW ULL

vQ

DOH ILUPHL
WHKQLF

SHUIRUPDQ HOH HFRQRPLF

L
IL[H

PLMORDFHORU

IL[H

-financiare ale firmei;

DQDOL]D HILFLHQ HL XWLOL] ULL PLMORDFHORU IL[H FDSLWDOXOXL IL[

i tehnic

 $QDOL]D GLQDPLFLL L VWUXFWXULL SRWHQ LDOXOX

Dinamica mijloacelor (activelor) fixe

VH UHFRPDQG

D IL VWDELOLW

DWkW

SH ED]D YDORULL GH LQYHQWDU FkW L SH VHDPD YDORULL PHGLL DQXDOH

$FHDVW

DQDOL]

HVWH vQ JHQHUDO R SUREOHP

LQWHUQ

D vQWUHSULQGHULL

GDU L D FRQFXUHQ HL FDUH VHVL]HD]

SH GH R SDUWH PDWHULDOL]DUHD LQYHVWL LLORU

LDU

GLQDPLFD

SH

GH

DOW

SDUWH

OHJ WXUD

FX

HIHFWHORU

SH

FDUH

OH

SURGXFH

Aceasta presupune interesul agentului economic privind capacitatea de

ILQDQ DUH

YLV

D YLV GH

FRQFXUHQ LL

SURILO L GH SHQHWUDUH SH SLD D LQWHUQ

FHORUODO L DJHQ L
L H[WHUQ

HFRQRPLFL FX DFHODL

D SURGXVHORU VDOH

Q DQDOL]D GLQDPLFLL YDORULFH D PLMORDFHORU IL[H VH DUH vQ YHGHUH DD

FXP VH SUHFL]D DQWHULRU DWkW YDORDUHD LQL LDO

 GH LQYHQWDU FkW L YDORDUHD

medie, acestea fiind actualizate, ntruct efectele economice sunt supuse

IOXFWXD LLORU SUH XULORU FD HIHFW DO LQIOD LHL
Q DQDOL]D GLQDPLFLL PLMORDFHORU IL[H VH XUP UHWH HYROX LD YDORULL
PHGLL

VDX

YDORULL

GH

principalele categorii dH

LQYHQWDU

SH

DQXPLW

SHULRDG 

PLMORDFH IL[H R DWHQ LH GHRVHELW

FDWHJRULL GH PLMORDFH IL[H SURGXFWLYH GHFL FDUH SDUWLFLS

SH

WRWDO

SH

VH YD GD DFHORU
vQ PRG GLUHFW OD

SURFHVXO GH SURGXF LH

'H
FRUHODW

SULQFLSLX

VH

UHFRPDQG

FD

FX HIHFWHOH SH FDUH OH SURGXFH F

GLQDPLFD

PLMORDFHORU

IL[H

ILH

oncretizate n indicatori de rezultate

DL vQWUHSULQGHULL FD FLIUD GH DIDFHUL YDORDUHD DG XJDW  SURILWXO EUXW HWF

&X

DMXWRUXO

IXQF LHL

GH

UHJUHVLH

VH

SRDWH

IDFH

H[WUDSRODUH

HIHFWXOXL

YDORDUHD SUREDELO
VLWXkQGX-se ntr-R ]RQ
FX DPSOLWXGLQH
mDUH VDX PDL PLF  ID GH YDORDUHD VHULHL WHRUHWLFH
Structura mijloacelor fixe vQGHSOLQHWH R IXQF LH LPSRUWDQW

DQDOL]D HILFLHQ HL JHQHUDOH D DFHVWRUD FkW L D DFWLYLW

D

RULHQWD

SDUWLFLS

HIRUWXO

LQYHVWL LRQDO

F WUH

DFHOH

PDL
vQ

LL WRWDOH L DUH UROXO GH

FDWHJRULL

de mijloace fixe ce

QHPLMORFLW OD RE LQHUHD SURGXVHORU ILQLWH D OXFU ULORU VHUYLFLLORU

etc.
2 DVHPHQHD VWUXFWXU
ILLQG FRPSR]L LD WHKQRORJLF

HVWH GHILQLW

vQ OLWHUDWXUD GH VSHFLDOLWDWH FD

D FDSLWDOXOXL IL[

QWUH FRPSR]L LD WHKQRORJLF

SHUIRUPDQ HL vQWUHSULQGHULL H[LVW

D FDSLWDOXOXL IL[ L HIHFWHOH GH ED]

DOH

OHJ WXUL DWkW GH WLS GHWHUPLQLVW FkW L GH

tip aleatoriu.
Astfel, cu ct este mai mare ponderea mijloacelor fixe active, cu att
HVWH PDL SXWHUQLF

LQIOXHQ D H[HUFLWDW

DVXSUD XQRU LQGLFDWRUL GH HILFLHQ

PLMORDFHORU IL[H H[LVWkQG GHVLJXU R OLPLW

GXS

FDUH HILFLHQ D vQFHSH V

VFDG 
&D HIHFW GHWHUPLQLVW VH SRDWH IRORVL XUP WRDUHD UHOD LH

E
1
E
=
g

Mf 100 Mfa

sau
Ir =

n care:
g
E

Is Ia
100

= ponderea mijloacelor fixe (productive);

HIHFWXO XWLOL]DW vQ FDOFXOXO GH HILFLHQ

YROXPXO SURGXF LHL

YDORDUHD DG XJDW  SURILWXO EUXW HWF

Mf
Mfa
Ir
Is
Ia

= valoarea medie a mijloacelor fixe;

= valoarea medie a mijloacelor fixe active;
LQGLFHOH HILFLHQ HL PLMORDFHORU IL[H

= indicele structurii mijloacelor fixe active;

= indicele randamentului mijloacelor fixe active.

([HPSOLILFDUHD PHWRGRORJLF

LPSOLF

LQIRUPD LLOH FXSULQVH vQ

tabelul 7.1.
Tabelul nr. 7.1
Perioada

Nr.
crt.

INDICATORI

1.
2.

Cifra de afaceri (mil.lei)

Valoarea medie a mijloacelor
fixe (mil.lei)
- din care, productive (mil.lei)
Ponderea mijloacelor fixe
productive (%)
Cifra de afaceri la 1000 lei
mijloace fixe lei
Randamentul mijloacelor fixe
active lei

3.
4.
5.
6.

8WLOL]kQG UHOD LD

H[SOLF

SUHFHGHQW

DVWIHO

Ir =

Perioada
%

FXUHQW

(0)
1.800

(1)
2.295

+495

127,5

400

500

+100

125,0

320

420

+100

131,25

80

84

+4

105

4.500

4.590

+90

102

5.625

5.464

-160,71

97.14

Is Ia
 PRGLILFDUHD HILFLHQ HL PLMORDFHORU IL[H VH
100

Ir 100 = 102 100 = +2%, din care:

,V 100 = 105 100 = +5%

LQIOXHQ D VWUXFWXULL PLMORDFHORU IL[H DFWLYH

LQIOXHQ D LQGLFHOXL UDQGDPHQWXOXL PLMORDFHORU IL[H SURGXFWLYH DFWLYH

=
5H]XOW

fixH

Is Ia
105 97,14
Is =
105 = 3%
100
100

VSRULUHD FLIUHL GH DIDFHUL FH UHYLQH OD  OHL PLMORDFH

FX  OHL HVWH UH]XOWDWXO SH GH R SDUWH DO FUHWHULL SRQGHULL PLMORDFHORU

IL[H

DFWLYH

OHL

GH

OD



UHVSHFWLY

OD




LDU

SH

LQIOXHQ kQG
GH

IDYRUDELO

SDUWH

DOW

HILFLHQ D

LQIOXHQ HL

FX



QHIDYRUDELOH

HILFLHQ HL PLMORDFHORU IL[H DFWLYH FD

re a determinat o reducere a cifrei de

afaceri la 1000 lei mijloace fixe cu 135 lei, respectiv 3%.
'H

VWUXFWXULL

DLFL

FRQFOX]LD

PLMORDFHORU

IL[H

vQWUHSULQGHUHD

SURGXFWLYH

QX

SH

UHDOL]DW

vPEXQ W

LQYHVWL LLORU

FDOHD

LUH

QRL

FDUH

presupun active IL[H FX UDQGDPHQWH VXSHULRDUH DWkW FDQWLWDWLY FkW L FDOLWDWLY

FL SH FDOHD XQRU WUDQVIHUXUL FRPDV UL FDUH LPSOLF
X]XU

PLMORDFH IL[H FX JUDG GH

PDUH
(VWH RSRUWXQ GLQ SXQFW GH YHGHUH DO DQDOL]HL L XUP ULUHD VWUXFWXULL

PLMORDFHORU

IL[H

SH

YkUVW 

FDUH

HYLGHQ LD]

QLYHOXO

ED]HL

WHKQLFH

SURGXF LHL GLQDPLFD SURFHVXOXL GH vQORFXLUH UHvQQRLUHD L O UJLUH D HL

'H

DVHPHQHD

SUH]LQW

LQWHUHV

VLWXD LD

PRGHUQL] ULL

(utilaje modernizate, utilaje vechi, utilaje nemodernizate).

Starea mijloacelor fixe VH DSUHFLD] FX DMXWRUXO
indicatori:

XWLODMHORU

XUP WRULORU

JUDGXO GH X]XU  FDUH VH VWDELOHWH SH WRWDO PLMORDFH IL[H L SH FDWHJRULL

OD vQFHSXWXO SHULRDGHL L VIkULWXO SHULRDGHL FRQIRUP UHOD LHL

amortizarea mijloacelor fixe

valoare de inventar
Cu ct valoarea gradului de uzXU VH UHGXFH VWDUHD PLMORDFHORU
grad de uzur =

VH vPEXQ W

IL[H

HWH

JUDGXO GH UHvQQRLUH FDUH VH VWDELOHWH GXS

UHOD LD

valoarea mijloacelor fixe noi intrate prin investitii

valoarea medie a mijloacelor fixe
6WDUHD PLMORDFHORU IL[H VH DSUHFLD]
DWkW SULQWU-R DQDOL]
VHSDUDW
D
DFHVWRU GRL LQGLFL FkW L SULQWU-R DQDOL]
FRUHODW
D DFHVWRUD GLQDPLFD
grad de rennoire =

FRHILFLHQWXOXL GH UHvQQRLUH V

ILH FkW PDL DSURSLDW

GH DFHHD D FRHILFLHQWXOXL

GH X]XU 
'H

UHJXO 

FRHILFLHQWXO

GH

UHvQQRLUH

HYLGHQ LD]

vQORFXLUHD

PLMORDFHORU IL[H YHFKL FX FHOH QRL FDUH SUHVXSXQ SHUIRUPDQ H VXSHULRDUH

Dar acest proces de rennoire nu poate fi limitat numai la raportul valoric, ci

WUHEXLH vQWUHJLW FX DVSHFWH OHJDWH GH SHUIRUPDQ H FDUH LQIOXHQ HD]
L FDOLWDWLY vQWUHDJD DFWLYLWDWH HFRQRPLF

FDQWLWDWLY

D vQWUHSULQGHULL UDQGDPHQW GXUDW

GH IXQF LRQDUH VDWLVIDFHUHD FHULQ HORU HFRQRPLFH HWF

 $QDOL]D XWLOL]

2

DVHPHQHD

ULL SRWHQ LDOXOXL WHKQLF PLMORDFHORU IL[H

DQDOL]

YL]HD]

XWLOL]DUHD

H[WHQVLY

LQWHQVLY

PLMORDFHORU IL[H FRUSRUDOH SH GH R SDUWH L UHIOHFWDUHD DFHVWRUD vQ LQGLFDWRULL

GH SHUIRUPDQ
Q

DL vQWUHSULQGHULL SH GH DOW

DQDOL]D

SHQWUX

DSUHFLHUHD

SDUWH
XWLOL] ULL

WLPSXOXL

GH

OXFUX

DO

HFKLSDPHQWXOXL LQGXVWULDO VH IRORVHVF XUP WRULL LQGLFDWRUL

JUDGXO GH SURJUDPDUH L IRORVLUH D IRQGXOXL GH WLPS FDOHQGDULVWLF

gradul de utilizare a fondului de timp maxim disponibil.

,QGLFDWRULL DPLQWL L VH GHWHUPLQ

GXS

XUP WRDUHOH UHOD LL

gradul de programare:

Tmax
T0

gradul de folosire a fondului de timp maxim disponibil:

T
G max = 1
Tmax

gradul de folosire a fondului de timp disponibil:

T
Gf = 1
T0
Acest lucru se poate analiza la nivelul echipamentului industrial, pe
Gp =

JUXSH GH XWLODMH VDX OD QLYHOXO ILHF UXL XWLODM LQGXVWULDO

Q FRQGL LLOH SUHOXFU ULL DXWRPDWH D GDWHORU VH FUHHD]

ca centrele de suprDYHJKHUH
D

DFHVWRU

LQGLFDWRUL

L UHJODUH V

FDX]HOH

FDUH

DX

SRVLELOLWDWHD

RIHUH LQIRUPD LL LPHGLDWH L H[DFWH

GHWHUPLQDW

QHvQFDGUDUHD

IRORVLULL

WLPSXOXL GH OXFUX DO XWLODMHORU vQ SDUDPHWULL VWDELOL L

&HULQ D HVWH FD JUDGXO GH IRORVLUH D WLPSXOXL GH OXFUX V
ILH FkW mai
aproape de cel maxim disponibil, ntruct se va concretiza favorabil n
YROXPXO SURGXF LHL H[HFXWDWH DWkW FDQWLWDWLY FkW L VXE UDSRUWXO FDOLWDWLY
&DX]HOH IUHFYHQWH FDUH GHWHUPLQ

timp maxim disponibil sunt: defecWHOH

XWLOL]DUHD LQFRPSOHW
PHFDQLFH

D IRQGXOXL GH

HOHFWULFH

OLSVD

GH

PDWHULDOH OLSVD GH FRPHQ]L SUHOXQJLUHD WLPSXOXL SHQWUX UHSDUD LL HWF

)RORVLUHD

H[WHQVLY

PLMORDFHORU

IL[H

FRUSRUDOH

SUHVXSXQH

UHVSHFWDUHD UHJLPXOXL VFKLPE ULORU vQ VWDELOLUHD F UXLD WUHEXLH V

vedere UHVWULF LLOH OHJDWH GH GHVI XUDUHD

economicitate n consumul energiei etc.

SURGXF LHL

GH

VH DLE

vQ

UDQGDPHQW

GH

'H DVHPHQHD VH XUP UHVF DVSHFWHOH OHJDWH GH JUDGXO GH IRORVLUH D

parcului inventar.

3HQWUX
QHFHVDU

SULQFLSDOLORU

HYDOXD

FXDQWLILFDUH
LQGLFDWRUL

PDL
D

DL

FRUHFW

IRORVLULL

LPSRUWDQ D
WLPSXOXL

SHUIRUPDQ HORU

GH

XWLOL] ULL
OXFUX

HFRQRPLFR

H[WHQVLYH

XWLODMHORU

HVWH

DVXSUD

-financiare, utiliznd

XUP WRDUHOH UHOD LL

1. DVXSUD PRGLILF

ULL YDORULL SURGXF LHL PDUI

IDEULFDW

RE LQXW  GHVWLQDW

OLYU U

ii):
N1 (t1 t 0 ) rh 0 ,
QXP UXO GH XWLODMH
unde: N
QXP UXO GH RUHXWLODM
t
r h = randamentul mediu orar.
2. DVXSUD PRGLILF ULL YDORULL DG XJDWH DIHUHQWH SURGXF LHL IDEULFDWH
Qa
N1 (t1 t 0 ) rh 0 0
Qf 0
3. asupra modifiF ULL FLIUHL GH DIDFHUL DIHUHQWH DFWLYLW LL GH ED] 
CA 0
N1 (t1 t 0 ) rh 0
Qf 0
4. asupra sumei profitului brut
CA 0
N1 (t1 t 0 ) rh 0
r0 ,
Qf 0
Pb
n care:
r0 = 0
CA0
5. DVXSUD FKHOWXLHOLORU FX DPRUWL]DUHD OD  OHL SURGXF LH PDUI IDEULFDW
A0
A0
1000
1000
N1 t1 rh 0
N1 t 0 rh 0

$QDOL]D XWLOL] ULL LQWHQVLYH D PLMORDFHORU IL[H SRDWH IL FDUDFWHUL]DW

FX DMXWRUXO XUP WRULORU LQGLFDWRUL

(a)
FD

UDSRUW

JUDGXO GH XWLOL]DUH D FDSDFLW

vQWUH

SURGXF LD

SUHY ]XW

LL GH SURGXF LH FDUH VH GHWHUPLQ

UHVSHFWLY

FRQIRUP UHOD LHL

Cp =

Q
Q max

RE LQXW

FHD

PD[LP 

6H GHWHUPLQ

XQ JUDG GH XWLOL]DUH SURJUDPDW

Q1
utilizare efectiv


Q max
LQGLFDWRULL GH SHUIRUPDQ

Q0

Q max

GHRDUHFH IRORVLUHD LQWHJUDO

L XQ JUDG GH

VH FRQFUHWL]HD]

vQ

DL vQWUHSULQGHULL
 FDUH VH GHWHUPLQ

(b) LQGLFHOH GH XWLOL]DUH LQWHQVLY

FRQIRUP UHOD LHL

Q
In =
KT

unde: In LQGLFHOH GH XWLOL]DUH LQWHQVLY 

Q = volumul SURGXF LHL
K FDUDFWHULVWLFD GLPHQVLRQDO D XWLODMXOXL
T WLPSXO GH IXQF LRQDUH D XWLODMXOXL
'H DVHPHQHD VH GHWHUPLQ

XQ LQGLFH GH XWLOL]DUH LQWHQVLY

SURJUDPDW L XQXO HIHFWLY SHQWUX D VHVL]D FDUH VXQW UH]HUYHOH IRORVLULL

FRPSOHWH D FDSDFLW

LL HYLGHQW

SURGXF LHL FDUH VH UHIHU

LQkQGX VH VHDPD GH FHUHUHD SH SLD

OD

H[LVWHQ D XQRU ORFXUL vQJXVWH

IRORVLUHD FDSDFLW

H[LVWHQ D XQRU GHIHF LXQL vQ DSURYL]LRQDUHD FX PDWHULDOH

GHS LUHD WHUPHQXOXL DIHUHQW UHSDUD L

OD

SDUDPHWULL

LORU QRL LQWUDWH vQ IXQF LXQH

ilor etc.

$FHVW LQGLFDWRU VHVL]HD]

vQFDGUHD]

vQ

SURLHFWD L
OLPLWHOH

GDF

IDSWXO GDF
WLPSXO

SUHY ]XWH

GH

XWLODMXO UHVSHFWLY IXQF LRQHD]

IXQF LRQDUH

FDX]HOH

FH

DX

nencadrare etc, lucru foarte importaQW vQWUXFkW DFHDVW

UHIOHFW

DO

XWLODMXOXL

GHWHUPLQDW

VH

DFHDVW

XWLOL]DUH LQWHQVLY

VH

vQ FDQWLWDWHD L FDOLWDWHD SURGXF LHL RE LQXWH

(c) randamentul utilajelor

FDUH

UHSUH]LQW

YDORULF  GH SURGXF LH SH XQLWDWH D IDFWRUXOXL

fie n QXP

FDQWLWDWHD

VDX

UXO GH HFKLSDPHQWH XWLODMH ILH SULQ WLPSXO GH OXFUX DO DFHVWRUD

5HOD LD GH GHWHUPLQDUH D UDQGDPHQWXOXL XWLODMHORU HVWH

r=
n care:
r
Q
N
T

IL]LF

XWLOL]DW FDUH SRDWH IL H[SULPDW

Q
N

sau

Q
T

= randamentul mediu (anual sau pe unitate de timp);

YDORDUHD SURGXF LHL
QXP UXO G

e utilaje;

WLPSXO GH IXQF LRQDUH DO XWLODMHORU

,QHJDOLWDWHD GLQWUH UDQGDPHQWXO HIHFWLY L FHO SURJUDPDW VDX FHO DO

SHULRDGHL

SUHFHGHQWH

HILFLHQ D

H[SULP

XWLOL] ULL

HFKLSDPHQWHORU

cazul randamentului valoric intervine modificarea structurLL

SUH XULORU

DWXQFL

FkQG

QX

HVWH

DVLJXUDW

LDU

vQ

SURGXF LHL L D

FRPSDUDELOLWDWH

SUH XULORU

IRORVLWH vQ H[SULPDUHD SURGXF LHL

6H

SRDWH

GHWHUPLQD

UDQGDPHQWXO

PDUJLQDO

FDUH

HVWH

UDSRUWXO GLQWUH YDULD LD SURGXF LHL 4 L YDULD LD IDFWRUXOXL XWL

HJDO

FX

lizat (X), care

are mai mult caracter conceptual PDQDJHULDO L PDL SX LQ IRORVLUH SUDFWLF

ULJXURDV 
/HJ WXUD
UHSUH]HQWDW

GLQWUH

PRGXO

GH

XWLOL]DUH

H[WHQVLY

SULQ YDORDUHD SURGXF LHL H[SULPDW

LQWHQVLY

HVWH

vQ IXQF LH GH QXP UXO GH

utilaje, timpuO PHGLX OXFUDW GH XQ XWLODM L UDQGDPHQWXO PHGLX

8WLOL]kQG UHOD LD Q = N t r  PRGLILFDUHD YDORULL SURGXF LHL FD HIHFW
DO XWLOL] ULL H[WHQVLYH L LQWHQVLYH VH H[SOLF

DVWIHO

Q1 Q0 = 135615,36 615,36 150.000 = -14.384,64 mil.lei

infOXHQ D QXP UXOXL GH XWLODMH

(N1 N 0 )t 0 r 0 = (46 50) 6.000 500.000 = 12.000 mil.lei

LQIOXHQ D QXP UXOXL PHGLX de ore utilaj pe utilaj:

N1 t1 t 0 r 0 = 46(5.920 6.000 ) 500.000 = 1.840 mil lei

LQIOXHQ D UDQGDPHQWXOXL PHGLX SH RU 

N1 t1 r1 r 0 = 46 5.920(498.000 500.000 ) = 544.640 mil.lei

6H FRQVWDW
F
VXQW UH]HUYH QHIRORVLWH DWt din punct de vedere al
XWLOL] ULL H[WHQVLYH FkW L GLQ SXQFW GH YHGHUH LQWHQVLY
&DX]HOH FDUH SRW GHWHUPLQD DVHPHQHD VLWXD LL SRW IL

QHPRQWDUHD

XWLODMHORU

H[LVWHQWH

UHVSHFWLY

QHIXQF LRQDUHD

FHORU

instalate;

GHS LUHD

WHUPHQXOXL

GH

H[HFXWDUH

LQYHVWL LLORU

QHFHVDUH

DIHUHQWH

KDOHORU vQ FDUH WUHEXLHVF LQVWDODWH XWLODMHOH DFKL]L LRQDWH

IRORVLUHD LQFRPSOHW
OLSV
OLSV

SLHVH

GH

D WLPSXOXL GH OXFUX DO XWLODMHORU GLQ GLIHULWH FDX]H

VFKLPE

DSURYL]LRQDUHD

folRVLUHD QHUD LRQDO D XWLODMHORU

randamentului mediu etc.;
2

GHIHFWXRDV

FX

PDWHULL

SULPH

HQHUJLH HWF

SUREOHP

LPSRUWDQW

VXSUDIH HORU GH SURGXF LH

FX

UHSHUFXVLXQL

FRQVWLWXLH

QHJDWLYH

XWLOL]DUHD

DVXSUD

HILFLHQW

$QDOL]D

XWLOL] ULL

realiza folRVLQG XUP

Q N1 t r
I.
=
S
S

HILFLHQWH

VXSUDIH HORU

GH

SURGXF LH

VH

SRDWH

WRDUHOH PRGHOH

&RQIRUP DFHVWHL UHOD LL PRGHOXO IDFWRULDO VH SUH]LQW

DVWIHO

N
t
N
r
t
r

Q
S

Q N T Q N
= = tr
S S N T S

II.
n care:

N
S

JUDGXO GH vQF UFDUH DO VXSUDIH HORU GH SURGXF LH QXP UXO GH

utilaje ce revin la 100 sau 1000 m2).

0RGHOXO IDFWRULDO VH SUH]LQW

DVWIHO

N
S
t
r

'H

Q
S

PHQ LRQDW

XQ

DVHPHQHD

PRGHO

VHVL]HD]

QX

QXPDL

GDF

vQWUHSULQGHUHD D UHVSHFWDW JUDGXO GH XWLOL]DUH DO VXSUDIH HORU GH SURGXF LH

JUDG FDUH LPSOLF

SH OkQJ

UHJXOLORU

SURWHF LD

SULYLQG

QHUHVSHFW UL DVXSUD FDQWLW

DF LXQH

GLUHFW

FkW

UHVSHFWDUHD SDUDPHWULORU SURLHFWD L L UHVSHFWDUHD

ORFXOXL

GH

LL L FDOLW

LQIOXHQ D

PXQF 

FL

LL SURGXF LHL

LQGLUHFW

LPSOLFD LLOH

RE LQXWH

QHUHVSHFWDUH

FD

DFHVWRU

IDFWRU FX

JUDGXOXL

GH

vQF UFDUH D VXSUDIH HORU GH SURGXF LH DUH LPSOLFD LL DVXSUD QXP UXOXL PHGLX
GH

RUH

SH

RE LQXWH

XWLODM

DVXSUD UDQGDPHQWXOXL

PHGLX

DVXSUD

FDOLW

LL

SURGXF LHL

0RGLILFDUHD
XWLODMHORU

VH

FUHWHUHD

UHIOHFW

vQ

VDX

VF GHUHD

XUP WRULL

LQGLFDWRUL

UDQG

amentului mediu al
-financiari ai

HFRQRPLFR

ntreprinderii:
(1) $VXSUD YDORULL SURGXF LHL IDEULFDWH
T1 (r1 r0 )
(2) $VXSUD YDORULL DG XJDWH DIHUHQWH SURGXF LHL PDUI
Qa
sau n mod direct:
T1 (r1 r0 ) 0
Qf 0
T1(r1 r0), n care:
r=

(3)

Qa
T

$VXSUD FLIUHL GH DIDFHUL DIHUHQWH DFWLYLW

T1 (r1 r0 )

(4)
(a)

IDEULFDW

LL GH ED] 

CA 0
Qf 0

$VXSUD SURILWXOXL DIHUHQW SRWHQ LDO

SULQ YDORDUHD SURGXF LHL PDUI 

T1 (r1 r0 ) pr0

n care:
pr0 = 1

q 0c 0
q 0p0

(b) prin intermediul cheltuielilor cu amortizarea:

A
A
0 0
Tr Tr
10
11

(5)

q1p1

$VXSUD FRVWXULORU FX DPRUWL]DUHD OD  OHL SURGXF LH PDUI 

A0 A0

T r T r 1000

10
11
(6) Asupra profitului brut aferent cifrei de afaceri din activitatea de
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1200
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Tabelul 8.1

Nr.
crt.
0
1
2
3
4
5
6

Denumirea
principalelor materii
prime
X
A
B
C
D
E
Total

U/M
Z
to
to
to
to
to
to

Aprovizionat n
perioada ..
1
2.700
1.140
150
1.126
145
5.261

din care:
din care:
import
2
700
1.110
10
1
15
1.836

Din datele respective rezult

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export
3
2.000
30
140
1.125
130
3.425

4
1.800
30
140
120
2.090

F2

F3

5
150
1.100
10
1.260

6
50
25
75



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Tabelul 8.2
Cantitatea

livrat ntr-un
lot
min.

Calitate n
raport de
necesar

7
transp. CFR
transp.
CFR+ +
auto

max.

Mode de

!
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1
800.000

    
 
A
material A
F1
F2

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850.000

100
200

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8.000

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virament

superior
corespunde

...
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50

...
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dispo

...
inferior

7 4 2
86 530
0 ( )' 1
(

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0
1.

solicitat
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tabelul 8.3.
Tabelul 8.3
Nr.
crt.
1.
2.
3.
4.
5.
6.

Denumirea
materialelor
principale
A
B
C
D
E
Total

U/M

Necesar de
aprovizionat

to
to
to
to
to
to

2.000
130
40
120
50
2.340

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Contractat la nceputul*
Tr. I
1.500
35
40
30
1.605

Tr.II
2.000
125
40
130
40
2.230

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2.000
125
40
130
40
2.335

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2.000
125
60
150
40
2.375

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Tabelul 8.4
Nr.
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,QWU

1.
2.
3.
4.
5.
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UL

U/M
kg.
kg.
kg.
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I
II
III

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Data
5
18
28
x

Asigurarea
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3
120
10
400
10
400
2
80
25
1.000

400
400
600
1.400

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120
120

final
520
520

: Necesar lunar 1.200 Kg; necesar zilnic 40 kg; perioada (luna,

WULPHVWUXO

SHQWUX

FDUH

VH

IDFH

DQDOL]D

FRQVXPXOXL L LQWHUYDOXO PHGLX vQWUH GRX

'LQ DFHVW H[HPSOX UH]XOW
QHFHVDUXO OXQDU FX SHVWH 

numai 83% (1000/1200

VH

DOHJH

vQ

IXQF LH

IUHFYHQ D

DSURYL]LRQ UL

IDSWXO F

GHL FDQWLWDWHD LQWUDW

GHS HWH

 .J DFHVWD D IRVW DVLJXUDW vQ SURSRU LH GH

 FHHD FH D FRQGXV OD FUHWHUHD VWRFXOXL ILQDO

GH SHVWH  RUL 2 DVHPHQHD VLWXD LH HVWH HIHFWXO QHULWPLFLW

respectiv a nereVSHFW

GH

LL DSURYL]LRQ ULL

ULL GH F WUH IXUQL]RUL D WHUPHQHORU GH OLYUDUH 2U vQ

FRQGL LLOH vQ FDUH DVWIHO GH IHQRPHQH DX R H[WLQGHUH vQ PDL PXOWH SHULRDGH

IDFWRULL GH GHFL]LH WUHEXLH V

DF LRQH]H SHQWUX HOLPLQDUHD FDX]HORU FDUH DX

SURGXV GHUHJO UL

8.3 Analiza stocurilor de materiale

3ULQ QDWXUD OXL RULFH VWRF GH PDWHULDOH UHSUH]LQW

R LPRELOL]DUH GH

YDORUL GH FDSLWDO )XQF LLOH SH FDUH OH vQGHSOLQHVF vQ SURFHVXO FLUFXOD LHL

FDSLWDOXOXL GHWHUPLQ

SROLWLFD SH FDUH R DGRSW

ILUPD vQ JHVWLXQHD VWRFXULORU

de materiale, vQ FDUH GLPHQVLXQHD DFHVWRUD SUH]LQW R LPSRUWDQ GHRVHELW 

Analiza stocurilor de materiale n cadrul dat al unei firme, sub aspect
PHWRGRORJLF YL]HD]
OD

HYROX LD

SUH]LQW

PDL PXOWH DVSHFWH $VWIHO R SULP

VWRFXULORU

vQ WDEHOXO 

FRPSDUDWLY

FX

FLIUD

GH

DIDFHUL

SUREOHP
DD

GXS

VH UHIHU
FXP

VH

Tabelul 8.5
Anii

Cifra de
afaceri

Stocuri
de
materiale

1
2
3
4
5

4.800
4.830
4.820
4.860
5.000

1.584
1.689
1.928
1.748
1.597

5H]XOW

Ind. Stocuri
5RWD LD
Ind. CA
stocurilor

Indici
Cifra de
afaceri
100
100,63
99,80
100,83
102,88

Stocuri
100
106,63
114,15
90,66
91,36

1
1,06
1,14
0,90
0,89

3,03
2,86
2,50
2,78
3,13

vQ DFHVW LQWHUYDO GH WLPS VWRFXULOH DX DYXW R HYROX LH

GLIHULW  $VWIHO vQ SULPLL GRL DQL D H[LVWDW WHQGLQ D GH FUHWHUH UHGXFkQ

du-se

YLWH]D ORU GH URWD LH LDU VSUH VIkULWXO LQWHUYDOXOXL DVLVW P OD R DFFHOHUDUH D
URWD LHL FHHD FH VH FRQFUHWL]HD]

vQWU R GLPLQXDUH D LPRELOL] ULORU Q PRG

QRUPDO vQ FRQGL LL GH VWDELOLWDWH HFRQRPLF  VWRFXULOH GH PDWHULDOH WUHEXLH V

evolueze, Q SDUDOHO FX SURGXF LD UHVSHFWLY FX FLIUD GH DIDFHUL Q DFWLYLWDWHD

SUDFWLF

GH DQDOL]

VH UHFRPDQG

FD SH P VXUD SRVLELOLW

LORU V

VH IDF

FRPSDUD LL L FX VLWXD LD ILUPHORU FRQFXUHQWH

$O GRLOHD DVSHFW vQ DQDOL]D VWRFXULORU VH UHIHU
XQ QLYHO FRQVLGHUDW

OD HYROX LD ORU ID

GH

DO DFHVWRUD VWRF QRUPDW PHGLX PD[LP VDX RULFH DOW

FDWHJRULH &RQWLQXLWDWHD SURFHVXOXL GH SURGXF LH LPSXQH H[LVWHQ D VWRFXULORU

GH PDWHULDOH 'H DFHHD ILUPD WUHEXLH V
XUP UHDVF

-L

VWDELOHDVF

OLPLWD VWRFXULORU L V

UHVS

ectarea acesteia.

6LVWHPHOH

DFWXDOH

GH

HYLGHQ

SHUPLW

FD

vQ

RULFH

PRPHQW

LGHQWLILFDWH PDWHULDOHOH VDX JUXSHOH GH PDWHULDOH FDUH SUH]LQW

OLPLWD

VWDELOLW 

vQVFULHUHD vQ OLVW

6H

UHFRPDQG

VH

RSHUH]H

FX

ILH

DEDWHUL ID

SULQFLSLXO

VDX YL]XDOL]DUHD SH HFUDQXO FDOFXODWRUXOXL V

GH

H[FHS LHL
VH IDF

LDU

GXS

XQ FULWHULX vQ RUGLQH FUHVF WRDUH VDX GHVFUHVF WRDUH vQ RUGLQHD FRGXULORU

HWF &X WLWOX GH H[HPSOX VH SUH]LQW

XUP WRDUHD PRGDOLWDWH GH VWUXFWXUDUH D

LQIRUPD LHL vQ WDEHOXO 

Tabelul 8.6
Nr.
crt.

Denumire
material

1.
2.
3.

A
B
C
Total
Sold

Abateri +
U/M
to
m2
buc.

Cantitate mii lei

1.000
500
x
x

70.000
80.000
130.000
50.000

Abateri %
5
7,5
15
3

Cantitat
e
100
x
x

mii lei
60.000
80.000
-

%
20
12
-

5H]XOW

vQ

PRPHQWXO

GDW

vQ

XQLWDWH

H[LVW

VWRFXUL

SHVWH

FHOH

SUHY ]XWH vQ YDORDUH GH  PLOLRDQH OHL FHHD FH UHSUH]LQW

GLQ WRWDOXO

stocurilor. ntr-R DVHPHQHD VLWXD LH VH LPSXQH FHUFHWDUHD ILHF

UXL FD] vQ SDUWH

L DGRSWDUHD P VXULORU QHFHVDUH

Al treilea DVSHFW FDUH VH UHFRPDQG vQ DQDOL]D VWRFXULORU VH UHIHU OD

gradul de imobilizare, procedndu-se la gruparea lor n stocuri normale,
VWRFXUL FX PLFDUH OHQW  VWRFXUL I U

PLFDUH L VWRFXUL GLVSRQLELOH

ncadrarea ntr-R JUXS VDX DOWD VH IDFH vQ IXQF LH GH IUHFYHQ D

consumului, calculndu-se durata de imobilizare a stocului (Di) n zile pe
ED]D UHOD LHL

Di =

S 360
E

unde: S = stocul mediu anual;

E LHLULOH GLQ PDJD]LH
Q UDSRUW FX DFHDVW

P ULPH FDOFXODW

SHQWUX SHU

ioadele anterioare, se

VWDELOHWH FRQYH LRQDO LQWHUYDOXO vQ ]LOH SHQWUX ILHFDUH JUXS  'H H[HPSOX
GDF

GXUDWD PHGLH GH VWRFDUH HVWH GH  ]LOH PDWHULDOHOH FDUH DX XQ WLPS GH

VWRFDUH PDL PLF GHFkW DFHDVW

30 -

 ]LOH UHSUH]LQW

PLFDUH $VWIHO GDF

GXUDW  LQWU

vQ JUXSD VWRFXULORU QRUPDOH vQWUH

VWRFXULOH FX PLFDUH OHQW  LDU SHVWH  ]LOH I U

OD XQ PDWHULDO 'L

LHLUH DX WUHFXW  GH ]LOH LQWU

 ]LOH LDU GH OD XOWLPD PRGLILFDUH

vQ JUXSH VWRFXULOH FX PLFDUH OHQW 

Q FHHD FH SULYHWH VWRFXULOH GLVSRQLELOH DFHVWHD VH LGHQWLILF

DOWH FULWHULL UHVSHFWLY SRVLELOLW

GXS

LOH GH XWLOL]DUH vQ FDGUXO ILUPHL

Actualiznd permanent baza de date privind stocurile, la anumite

LQWHUYDOH SRW IL RE LQXWH LQIRUPD LLOH VWUXFWXUDWH vQ WDEHOXO 

Tabelul 8.7
Valoarea stocurilor de materiale mii lei -

Nr.
crt.

Date
de identificare

normale

1
2
3
...
n

A
B
C
...
Total

30.000
...
150.000

RH]XOW

GLQ YDORDUHD WRWDO

VXQW FX PLFDUH OHQW  

I U

FX PLFDUH
OHQW

15.000
...
45.000

PLFDUH

10.000
...
30.000

disponibile
10.000
...
20.000

D VWRFXULORU GH  PLOLRDQH 

PLFDUH LDU DSURDSH 

VXQW GLVSRQLELOH

6LWXD LD

GDW

VH

FRPSDU

FX

SHULRDGHOH

PRGLILF ULOH LQWHUYHQLWH DF LRQkQGX

6WRFXULOH WUHEXLH V
XUPDUH R DOW

SUREOHP

DQWHULRDUH

-se n consecin

SHQWUX

YHGHD

DVLJXUH FRQWLQXLWDWHD SURFHVXOXL GH SURGXF LH &D

vQ DQDOL]D DFHVWRUD VH UHIHU

OD UH]HUYD vQ ]LOH 5]

FDUH VH VWDELOHWH SH ED]D UHOD LHL

S1
,
cz
unde: S1 = stocul efectiv la un moment dat;
cz = consumul mediu zilnic.
Rz =

'DF

VH IRUPHD]

L VWRFXO GH VLJXUDQ

 UH]HUYD vQ ]LOH VH GHWHUPLQ

astfel:

Rz =
vQ FDUH W UHSUH]LQW

S1 ( t cz)
,
cz

HFKLYDOHQWXO vQ ]LOH D VWRFXOXL GH VLJXUDQ

Pentru exemplificare se folosesc datele din tabelul 8.8.

Tabelul 8.8

A
B
C

Kg.
Kg.
Kg.

5H]XOW
PDWHULDOHOH

VLWXD LD
%

SRW

100
24
80

Intervalul

Rezerva
n zile
40
10
5

FHORU

DVLJXUD

WUHL

PG 5U B5)C Q
@ T T S G R
PHF)B@ 9
I G E D CA

1.
2.
3.

Consum
zilnic

aprovizionare

35
20
40

PDWHULDOH

FRQWLQXLWDWHD

Nr. de zile

T"C

U/M

V
@ HR

Denumirea
materialului

HVWH

30
8
15

GLIHULW 

SURFHVXOXL

Q Y "C XQ W
T R

Nr.
crt.

Stoc
la
data
de ...
4.000
240
400

GH

$VWIHO

GDF

SURGXF LH

vQ

VFKLPE SHQWUX PDWHULDOXO & VH LPSXQ P VXUL XUJHQWH vQ YHGHUHD FRPSOHW ULL

stocului de materiale.

8.4

Anali]D UHIOHFW ULL XWLOL] ULL UHVXUVHORU

n principalii indicatori economico-financiari

PDWHULDOH

n analiza folosirii resurselor materiale se pot folosi:

Indicatori analitici:

FRQVXPXO VSHFLILF FV UHVSHFWLY FDQWLWDWHD GH PDWHULH SULP

pentru RE LQHUHD XQHL XQLW

L GH SURGXV

FRQVXPDW

FRQVXPXO

SH

FDUDFWHULVWLF

IXQF LRQDO

SURGXVXOXL

VSHFLILF

SHQWUX

anumite produse. De exemplu, consumul de cauciuc natural la 1000 km

UXOD L FX R DQYHORS 

SRQGHUHD XQXL DQXPLW PDWHULDO vQ JUHXWDWHD QHW

cRHILFLHQWXO GH IRORVLQ VDX UDQGDPHQW RIHU SRVLELOLWDWHD

modului n care sunt utilizate materialele sub raport fizic.
Lista poate continua cu indicatorii specifici ai unor ramuri.
Indicatori sintetici:
gradul de valorificare a resurselor materiale:
valoarea produsului
;
cantitatea de material consumat

D SURGXVXOXL

YDORDUHD SURGXF LHL OD  OHX UHVXUVH PDWHULDOH

valoarea productiei
;
valoarea materialelor consumate
valoarea adaugata
;
valoarea materialelor consumate
profitul brut din exploatare 1 leu resurse materiale:
rezultatul exploatarii
;
valoarea materialelor consumate

8WLOL]DUHD UHVXUVHORU PDWHULDOH VH UHIOHFW

vQWUHJXOXL VLVWHP GH LQGLFDWRUL $VWIHO GDF

GLUHFW L LQGLUHFW vQ QLYHOXO

VH IRORVHWH FRQVXPXO VSHFLILF

PRGLILFDUHD DFHVWXLD LQIOXHQ HD]D

YROXPXO SURGXF LHL

Ct1 Ct1
,

cs1 cs0
n care Ct1 UHSUH]LQW FRQVXPXO WRWDO GLQWU-un material;
valoarea prodXF LHL
Ct1 Ct1

cs cs p 0 ,

0
1
n care p0 UHSUH]LQW SUH XO SURGXVXOXL

FRVWXO SURGXVXOXL LQIOXHQ D GLUHFW 

(cs1 cs0 ) p0 ,

n care p0 UHSUH]LQW

DSUHFLHULL

SUH XO PDWHULDOXOXL

FRVWXO SURGXVXOXL LQIOXHQ D LQGLUHFW 

Cf 0
Cf 0 ,
Iq

n care Cf0 UHSUH]LQW

FRVWXO IL[ LDU

Iq =

profitul unitar:

UDWD UHQWDELOLW

q0 + q
q0

(cs1 cs 0 )p
0
LL SURGXVXOXL

p 0 c 0 + (cs1 cs 0 )p
0
100 r0
c 0 + (cs1 cs 0 )p 0

3ULQ FXPXODUH SH WRDWH SURGXVHOH VH SRW GHWHUPLQD LQIOXHQ HOH WRWDOH

la nivelul firmei.
Gestiunea rHVXUVHORU PDWHULDOH FRQVWLWXLH R SUREOHP

IXQGDPHQWDO

PDQDJHPHQWXOXL LQWHUQ DO vQWUHSULQGHULL SUHPLV

D SHUIRUPDQ HL

economico-financiare a acesteia.

HVHQ LDO

$SOLFD LL L vQWUHE

1. 6 VH DQDOL]H]H HFRQRPLF
de afaceri pe baza datelor:

Cifra
de afaceri
(mil lei)

8200
8750
9300
9000
12000

Anii

HYROX LD VWRFXULORU vQ FRUHOD LH FX FL

Indicele
stocuri

Indici

Stocuri
de
materiale
(mil lei)

UL

fra

5RWD LD

CA

24400
26300
28700
32000
37500

CA

Stocuri

Indicele CA

stocurilor
URWD LL

N4
N3
N2
N1
N

2.

&XP

VH

GHWHUPLQ

VHPQLILFD LH HFRQRPLF

DUH

JUDGXO

GH

LPRELOL]DUH

VWRFXULORU

i ce

BIBLIOGRAFIE
1.

,)
67
%

1(6&8 $
1(6&8 &

$QDOL]D

HFRQRPLFR

ILQDQFLDU

Editura

(FRQRPLF  %XFXUHWL 

,&86, $

2. ROBU V.,
GEORGESCU N.
3. NICULESCU M.

$QDOL]

HFRQRPLFR ILQDQFLDU

Diagnostic

global

ASE, 2001

strategic,

Editura

(FRQRPLF  %XFXUHWL 

4.

5*8/(6&8 '

(coordonator)
5.

5*8/(6&8 '

D
Analiza
economico-ILQDQFLDU
ntreprinderii, 7ULEXQD (FRQRPLF  %XFXUHWL
1994
Diagnostic economico-financiar, Editura

NICULESCU M.,
ROBU V.
6.

5RPFDUW %XFXUHWL 

,)

Evaluarea ntreprinderii, Editura Tribuna

1(6&8 $

ROBU V.,
ANGHEL I.
7. ELIE COHEN

8.

5*8/(6&8 '

1(6&8 &.,
DAVID I.
9. BATRNCEA I.
67

(FRQRPLF  %XFXUHWL 

Analyse financiere, (GLWXUD (FRQRPLF  3DULV

1988, Analyse financiere 2-eme dition, Les
Edition dOrganisation, Paris, 1995
Analiza economico-ILQDQFLDU  Editura Oscar
3ULQW %XFXUHWL 

$QDOL]D
VRFLHW

HFRQRPLF

LORU FRPHUFLDOH

ILQDQFLDU

Editura ETA, Cluj-

Napoca, 1996
10.

751&($ ,

$QDOL]

ILQDQFLDU 

Editura Dacia, Cluj-

11. SORIN V. STAN

Napoca, 2000
Evaluarea ntreprinderilor X]DQ H
metode, (GLWXUD 7HRUD %XFXUHWL 

12.

*KLG

,)

1(6&8 $

SUDFWLF

ILQDQFLDU

GH

(GLWXUD

%XFXUHWL 

DQDOL]

HFRQRPLFR

7ULEXQD

(FRQRPLF