Methods of economic analysis of the enterprise - theoretical aspects

For the qualitative assessment of the results of the economic activity of the enterprise, economic analysis is used. In this case, it is necessary to clearly distinguish two concepts of economic analysis: "methodology" and "methods."

Methodology is considered to be the creation of a unique model of the interrelations between the performance indicators and the factors that influence these results.

Unlike the methodology, methods of economic analysis contribute to an integrated and systematic study of the influence of certain factors on the indicators of a successful operation of the enterprise with subsequent generalization of the obtained indicators.

As a tool, in general, a special system of indicators is used, which characterizes the economic activity of the enterprise and allows increasing production efficiency.

The main methods of economic analysis are based on the knowledge of such basic sciences as economics, statistics and mathematics.

Economic methods include:

- the grouping of homogeneous indicators for the study of relationships in complex phenomena;

- comparison, performed by comparing the analyzed data;

- balance method, which consists in comparing the two indicators and bringing them to a conditional equilibrium;

- graphical method.

Statistical methods of economic analysis involve the use of such methods:

- Relative values (percentage, specific gravity, index, coefficient) - average values;

- absolute differences - the change in the result is calculated as the product of the deviation of the analyzed factor and the basis (or reporting) value of the second factor;

- chain permutations, which involves calculating the intermediate values of the overall indicator by gradually replacing the baseline values of the indicators with the reported ones.

To the statistical methods of economic analysis, besides the above, one can include the coefficient and index methods, the construction of a variational series. Coefficient method is widely used in economic analysis in conjunction with factor analysis and is represented by a system of relative indicators from financial statements (mainly balance sheet and profit and loss account).

The index method is based on relative values, determined by the ratio of the actual data in the reporting period to the corresponding indicator of the base period (or, to the planned one).

The regression and correlation analysis method is used both in statistics and in mathematics. Using its use, a relationship is defined between indicators that are not in a functional relationship.

Mathematical methods include mathematical programming, modeling (matrix calculus, interbranch balance theory ), and various research methods (for example, game theory).

Economic analysis is generally considered to be primarily a factor analysis. Factor analysis involves the transition from the initial defined factor system to the final (necessary) factor system. At the same time, the full set of factors that have an effect on the financial result of the enterprise's activity is exercised to some extent.

All listed methods of economic analysis can be used in combination when conducting a full analysis of the business entity. From the very beginning, the methods of grouping indicators, comparing these indicators and their graphical representation are used for the analysis of financial statements. But the study of the pattern of development of the analyzed objects is carried out using statistical methods of analyzing the series of dynamics.