1. Methods of planning of the finance

1. Standard method.

The essence of a standard method of planning consists that on the basis of the established norms and technological specifications the requirement of the enterprise for financial resources and their sources settles up.

The system of specifications includes: federal specifications; republican (regional, independent formations); the branch; enterprise specifications.

2. Settlement-analytical methods.

The essence of a settlement-analytical method consists that on the basis of the analysis of the reached size of the financial indexation accepted for base, and indexes of its change in the planned period the planned size of this indicator settles up.

It is applied in cases when there are no technological specifications, and the interrelation between indicators can be established indirectly, on the basis of the analysis of their dynamics and communications. At the heart of this method expert appraisal lies.

The algorithm of this method includes following stages: the analysis of accounting indicators for the preplanned period; expert appraisal of dynamics of the accounting data, expert appraisal of prospects of development, planned target account.

One of the most wide-spread methods of this group is “the method of percent from realisation”. The method is based on coordination of the report on profit and balance with the planned volume of marketed products. The basis of such approach considers that fact that the majority of articles of direct costs, floating assets and current liabilities are in direct dependence on marketed products volume. During use of the given method the manager: advances articles which during last periods were changed directly proportionally to change of volume of marketed products; advances the planned volume of realisation; evaluates corresponding articles according to offered change of volume of realisation.

During use of the given method the financial manager:

-defines articles which during last periods changed in direct ratio to change of volume of realised production;

-defines the planned volume of realisation;

- estimates corresponding articles according to prospective change of volume of realisation

The result of use of this method is calculation on balance of necessary additional sources of the external financing caused by the planned gain of realised production.

Additional external financing can be also estimated by means of the following formula:

EF = (A/S) x DS - (L/S) x DS - (PM) x (PS) x (1-d),

EF - additional sources of external financing;

A/S - the assets increasing together with planned growth of volume of sales;

L/S - the liabilities increasing together with planned growth of volume of sales;

DS - a planned gain of volume of sales;

PM - profitability of sales;

PS - the planned volume of sales;

d - a share of the paid dividends.

3. Balance method.

The essence of a method - by balance construction is reached coordination of available financial resources and actual requirement for them. Balance coordination on financial resources looks like:

CB + R = E + CE, where

CB - a fund cash balance on the beginning of the planned period;

R - receipt of means in fund;

E - an expenditure of means of fund;

CE - a fund cash balance on the end of the planned period.

4. Method of optimisation of planned decisions.

Essence of a method - in working out of several variants of planned accounts, for the purpose of a choice of the optimal. Thus various criteria of a choice of the optimum decision can be applied: a minimum of expenses; a profit maximum; a minimum of investment of capital at the greatest efficiency of result; a minimum of time for a capital turn-over; an income maximum on rouble of the invested capital and others.

5. Methods of economic - mathematical modelling

Essence - allow to find quantitative expression of interrelations between financial indicators and factors, their defining; to construct economic-mathematical model. The model can be under construction on functional and correlation communication. Process of working out of planned targets with application of economic-mathematical models of financial indicators develops of following basic stages: the analysis and an estimation of the accounting data for the preplanned period, studying of dynamics of financial indicators for a certain interval of time and revealing of the factors influencing a direction of this dynamics; construction of economic-mathematical model of planned targets; forecasting of indicators on the basis of economic-mathematical model and working out of various variants of a planned indicator; the analysis and an expert estimation of prospects of change of planned indicators; acceptance of the planned decision.