Bazele teoretico-PHWRGRORJLFHDOHDQDOL]HLHFRQRPLFHLILQDQFLDUH

CAPI TOLUL 1
BAZELE TEORETI CO-METODOLOGI CE
$/($1$/,=(,(&2120,&(,),1$1&,$5(

1.1

1HFHVLWDWHDLFRQ LQXWXODQDOL]HLHFRQRPLFR

- financiare

1.1.1 Necesitatea analizei economico- financiare

0HGLXOHFRQRPLFvQFDUHvLGHVIDRDU
GLQDPLF$FHVWIDSWVHGDWRUHD]

DFWLYLWDWHDRILUP

HVWH

, prin natura lui,

H[LVWHQ HL vQ PDUHD PDMRULWDWH D VHFWRDUHORU GH DFWLYLWDWH D PDL PXOWRU
DJHQ L HFRQRPLFL DIOD L vQWU R SHUPDQHQW

 VWDUH GH FRQFXUHQ

 DOH F

URU

GHFL]LL GH DORFDUH D UHVXUVHORU GH UHSDUWL LH D UH]XOWDWHORU RE LQXWH HWF

DIHFWHD]

LQIOXHQ HD]

DF LXQLL

IDFWRUXOXL

PHGLXOHFRQRPLFvQDQVDPEOXOV

WLPS

FDUH

HVWH

GH

QDWXU

X


SURGXF

PXWD LL

VHPQLILFDWLYHDWkWvQFRVWXOUHVXUVHORUXPDQHPDWHULDOHILQDQFLDUHFkWL

n calitatea acestora.

Dinamismul mediului economic al firmei i pune permanent acesteia problema

DGDSW

ULLFkWPDLUDSLGHODQRLOHFRQGL LLvQSDUDPHWULGHFRPSHWLWLYLWDWH

3HQWUX DFHDVWD HVWH QHFHVDU FD PDQDJHPHQWXO ILUPHL V

DFWXDO

 D ILUPHL V

UHSUH]LQW

 DDGDU SULPD HWDS

 vQ VWDELOLUHD P

VXULORU QHFHVDUH FRUHFW

ULLODWXULORUSR]LWLYHDOHDFWLYLW

7UHEXLHDYXWvQYHGHUHF

SURFHVXOGHDQDOL]

SUH]LQW

ULL

LLILUPHL

RFRPSOH[LW

ate deosebit

GHRDUHFHVXQWVLWXD LLFkQGDFHODLHIHFWSRDWHILJHQHUDWGHFDX]H

GLIHULWH VDX SRW DYHD ORF FRPELQD LL GH HIHFWH FDUH GHWHUPLQ
WRWXOQRX

 VLWXD LD

 LGHQWLILFH SXQFWHOH VODEH L FHOH IRUWH DOH DFHVWHLD $QDOL]D

GHILFLHQ HORULDFFHQWX

GHULGLFDW

 FXQRDVF

 R UH]XOWDQW

 FX

$QDOL]DHFRQRPLF LILQDQFLDU DILUPHL

1.1.2

&RQ LQXWXODQDOL]HLHFRQRPLFR

- financiare

Analiza economico-finanFLDU

 UHSUH]LQW

 XQ DQVDPEOX GH FRQFHSWH WHKQLFL L

LQVWUXPHQWH GH WUDWDUH D LQIRUPD LLORU FX VFRSXO GLDJQRVWLF

HQWLW

ULL VW

ULL XQHL

L HFRQRPLFH D DSUHFLHULL QLYHOXOXL FDOLWDWLY DO SHUIRUPDQ HORU DFHVWHLD vQ

FRQGL LLOHH[LVWHQ HLXQXLPHGLXFRQFXUHQ LD

Analiza

economico-ILQDQFLDU

VWXGLD]

l dinamic.

IHQRPHQHOH

HFRQRPLFH

GHVFRPSXQHUHD ORU vQ HOHPHQWH FRPSRQHQWH FX VFRSXO LGHQWLILF

GH RUGLQ SULPDU FDUH OH JHQHUHD]

SULQ

ULL FDX]HORU

 D IDFWRULORU FDUH VWDX OD ED]D IRUP

ULL

acestora.
Diagnosticarea nseDPQ

 LGHQWLILFDUHD YDULDELOHORU FKHLH DOH VW

ULL L GLQDPLFLL

IHQRPHQHORU D LQWHUDF LXQLL GLQWUH DFHVWHD FXVFRSXOGH D SURLHFWD P

VXUL GH

FRUHF LH D LQIOXHQ HORU QHJDWLYH DVXSUD SHUIRUPDQ HORU ILUPHL L GH DPSOLILFDUH

a celor favorabile.
1.2

Etapele pr RFHVXOXLGHDQDOL]

HFRQRPLFR ILQDQFLDU

Etapele principale ale procesului metodologic de realizare a analizei financiare

VXQWXUP

1.

WRDUHOH

FRQVWUXLUHD ED]HL LQIRUPD LRQDOH QHFHVDUH DQDOL]HL

LQIRUPD LRQDOH
UHSUH]LQW

UHSUH]LQW

R

HWDS

GH

PD[LP

. Formarea bazei

LPSRUWDQ

GHRDUHFH

 SXQFWXO GH SOHFDUH DO vQWUHJXOXL SURFHV 6XUVHOH LQIRUPD LRQDOH

VXQWPXOWLSOHLYDULDWH(OHSRWILORFDOL]DWHDWkWvQFDGUXOILUPHLDQDOL]DWH
GDWH RSHUDWLYH WHKQLFH ILQDQFLDUH FRQWDELOH RUJDQLJUDP

exterioUXO

X

 HWF FkW L vQ

SXEOLFD LL GH VSHFLDOLWDWH VWXGLL L DQDOL]H VHFWRULDOH

UDSRDUWH HODERUDWH GH RUJDQL]D LL GH UDPXU

HWFLQIRUPD LLGHQDWXU

2.

VWDWLVWLF

 SDWURQDWH DVRFLD LL GH SURILO

HWF

SUHOXFUDUHD ED]HL LQIRUPD LRQDOH 1HFHVLWDWHD DFHVWHL HWDSH UH]LG

aWkW vQ DVLJXUDUHD ILDELOLW

GLVWRUVLXQLORU
FRPSDUDELOLW

L

LL GDWHORU L LQIRUPD LLORU FROHFWDWH HOLPLQDUHD

QHFRQFRUGDQ HORU

SRWHQ LDOH

LLvQWLPSDLQGLFDWRULORUYDORULFL

FkW

L

vQ

DVLJXUDUHD

Bazele teoretico-PHWRGRORJLFHDOHDQDOL]HLHFRQRPLFHLILQDQFLDUH

3.

DQDOL]DVLWXD LHLGHIDSWDPHFDQLVPXOXLSULQFDUHFDX]HOH
L UHVSHFWLY H[WHUQH LQIOXHQ HD]

interne

 HYROX LD IHQRPHQXOXL DQDOL]DW

n acest sens, analistul financiar dispune de un aparataj metodologic

FRPSOH[IRUPDWGLQPHWRGHWHKQLFLLLQVWUXPHQWHWLLQ LILFH

4.

VWDELOLUHD

SURJUDPXOXL

GH

DF LXQH

LPSXQH HDORQDUHD vQ WLPS D P

UL GH FRVWXUL LVDX PDMRU

QHFHVDU



UHVSRQVDELOHGHDSOLFDUHDILHF

5.

DSOLFDUHDP

6.

PRQLWRUL]DUHD
DFWXDOL]

UL GH YHQLWXUL VDX vQFDV

stabilirea
UHLP

VXULORUSURSXVH

acestuia. Se

ULLORULUHVSHFWLYDHIHFWHORUVFRQWDWH

GLPLQX

DVHPHQHD

HWDSL]DUHD

VXULORU SURSXVH SUHFXP L FXDQWLILFDUHD

HIRUWXULORUILQDQFLDUHQHFHVDUHDGRSW

GH

L

persoanelor

sau

UL (VWH

echipelor

VXULvQSDUWH

UH]XOWDWHORU

RE LQXWH

L

HIHFWXDUHD

FRUHF LLORU

ULORU 1HFHVLWDWHD DFHVWHL XOWLPH HWDSH HVWH MXVWLILFDW

 WRFPDL

GH GLQDPLFD PHGLXOXL HFRQRPLF vQ DQVDPEOX L GH YDOLGDUHD HIHFWHORU

HVWLPDWHLQL LDO

Diagnosticul economico-financiar poate fi tratat sub dublu aspect:

diagnostic intern necesar managementului firmei n procesul

IXQGDPHQW

ULL SUHYL]LXQLL DFWLYLW

LL

acesteia (planuri de afaceri, bugete

HWF SUHFXP L SHQWUX UHDOL]DUHD IXQF LHL GH FRQWURO Q DFHVW FD]
LQIRUPD LD ILQDQFLDU

 FRQVWLWXLH XQ HOHPHQW FKHLH DO FRPXQLF

FDGUXO ILUPHL 'LDJQRVWLFXO LQWHUQ SUH]LQW

ULL LQWHUQH vQ

 DYDQWDMXO XQXL FRVW PDL UHGXV

GDUSRDWHILLQIOXHQ DWGHHOHPHQWHGHVXELHFWLYLVP

diagnostic extern  UHDOL]DW vQ EHQHILFLXO XQHL HQWLW

LQVWLWX LL ILQDQFLDUH E
ILUPH GH FRQVXOWDQ
GH QDWXU

 ILQDQFLDU

L H[WHULRDUH ILUPHL

QFL FOLHQ L L IXUQL]RUL SRWHQ LDOL SRVLELOL LQYHVWLWRUL

 RUJDQLVPH DOH VWDWXOXL HWF Q DFHVW FD] LQIRUPD LD

 FRQVWLWXLH R FRPSRQHQW

FX FDUDFWHU VWDWLVWLF IXQGDPHQW

ILUPHLSLH HLILQDQFLDUHHWF

 QHFHVDU

 UHDOL]

ULL GH VWXGLL

ULL SURFHVXOXL GH HYDOXDUH D DF LXQLORU

$QDOL]DHFRQRPLF LILQDQFLDU DILUPHL

7LSXULGHDQDOL]

GXS

 UDSRUWXO GLQWUH PRPHQWXO GHVI

XU

ULL DQDOL]HL L FHO DO SURGXFHULL

fenomenului:


analiza post-factum;


DQDOL]DSUHYL]LRQDO

GXS

SURVSHFWLY

QLYHOXOODFDUHDUHORF


DQDOL]DPLFURHFRQRPLF

ODQLYHOGHDJHQWHFRQRPLF

DQDOL]DPH]RHFRQRPLF


ODQLYHOGHVHFWRUUDPXU

DQDOL]DPDFURHFRQRPLF


GXS

PRGXOGHXUP


DQDOL]DVWDWLF

ODVFDUDHFRQRPLHLQD LRQDOH

ULUHDIHQRPHQHORUvQWLPS


DQDOL]DGLQDPLF

1.3

0HWRGH WHKQLFL L LQVWUXPHQWH XWLOL]DWH GH DQDOL]D HFRQRPLFR

ILQDQFLDU

,QVWUXPHQWXO RSHUD LRQDO IXQGDPHQWDO vO UHSUH]LQW

 XQ

sistem de indicatori

economico- financiari.$FHWLDVHSRWJUXSDvQ
-

indicatori ai resurselor (materiale, financiare, umane);

indicatori ai consumului de resurse (cheltuieli);

indicatori de rezultate (efecte);

LQGLFDWRUL GH HILFLHQ

 RE LQX L S

rin compararea efortului depus cu efectul

generat).
0HWRGHOH WHKQLFLOH L LQVWUXPHQWHOH XWLOL]DWH FHO PDL IUHFYHQW vQ SURFHVXO GH
DQDOL]

VXQW

LQGLFL P
SUHF

ULPL UHODWLYH GH VWUXFWXU

 DEDWHUL PHGLL

GHUH SHQWUX UHOLHIDUHD HYROX LHL vQ GLQDPLF

SUHFXPLSHQWUXVXEOLQLHUHDPRGLILF

. Se folosesc cu

 D IHQRPHQXOXL HFRQRPLF

ULORUGHRUGLQVWUXFWXUDODOHDFHVWXLD

Bazele teoretico-PHWRGRORJLFHDOHDQDOL]HLHFRQRPLFHLILQDQFLDUH

diviziunea ( descompunerea) . Scopul este acela de a identifica cauzele

SULPDUHFHVWDXODED]DHYROX LHLIHQRPHQXOXL

FRPSDUD LD 2ULFH UH]XOWDW RE LQXW HVWH QHFHVDU V

ED]

GH

UHIHULQ



FX

YDORDUHD

UHDOL]DW

GH

WUH

FDUDFWHULVWLFLVLPLODUHVDXFXYDORULOHPHGLLSHUDPXU

benchmarking

 ILH FRPSDUDW FX R

R

WUH ILUP

ILUP

FX

VHFWRU

R GHULYD LH GLQ FRPSDUD LH &RQVW

UH]XOWDWHORU RE LQXWH GH F

DOW

 vQ FRPSDUDUHD

 FX FHOH DOH OHDGHU

UHVSHFWLYGHDFWLYLWDWH$IRVWGH]YROWDW

-ului n domeniul

GHF

WUH5$1.;(52;ODvQFHSXWXO

anilor 80;
Gruparea  $OHJHUHD FULWHULXOXL SH ED]

F

UXLD VH HIHFWXHD]

 GHSLQGH GH

scopul analizei;
Modelarea. Determinarea modeOXOXL
LQHJDOLW

VXE

IRUP

GH

HFXD LL

L IXQF LL HWF SRUQHWH GH OD GHILQLUHD RELHFWXOXL DQDOL]DW L D

VXUVHORULQIRUPD LRQDOHSHED]DF

XWLOL]DW

5HSUH]HQW

ULOHJUDILFH

URUDVHFRQVWUXLHWHPRGHOXO

. (diagrame , histograme, cronograme etc.);

Grile de evaluare. Utilizate cu prioritate n diagnosticul global al firmei;

Metoda ABC (VWH IRORVLW

 vQ DQDOL]D VWRFXULORU D SXWHULL GH QHJRFLHUH D

ILUPHLvQUHOD LLOHFXFOLHQ LLLFXIXUQL]RULLV

0HWRGDVXEVWLWX LLORUvQODQ

0HWRGDEDODQ HORU

L

Metoda scorurilor etc.

Detalierea modului de aplicare a metodelor sus-PHQ

cadrul cursului, pe cazuri concret delimitate.

LRQDWH HVWH UHDOL]DW

 vQ