Or patrimony is how an organism, all dynamic, foss which has a circulatory flow, whose constant speed transmits solvency, positive and balanced results for the aziendal entity. There is a survival of the social cell. Very interesting interest in accounting, being a vitality of the capital of companies, a state that has only been produced by two dynamic patrimonies, where we can highlight or designated phenomenon by the renewal of two circulating elements, which we call turning. A relationship that exists between the vitality of a social cell and the capacity for renewal of two six circulating elements is such a great one that can be defined as the survival and prosperity of the social cell as the effectiveness of its working capital.A countable science can, through method and technology, acquire the qualification of working capital, defining models of behavior and guidance for the two managers, so that this dynamic circulatory phenomenon, can transmit vitality and prosperity to the estate patrimony organization.
1-Azienda e celula social
The life-science biology demands that an organism be made up of cells, as Spencer (1820 - 1903) will prove, and such a conception can be assumed as a social science, that it claims that the economic organism also consists of cells, which we call Aziendas.As aziendas are only organizations where or homem we maintain their activities to satisfy their needs, they are made up of various elements and can also be called companies or social cells.
In the presence of a society, the set of various Aziendas, an institution of which nature or a human being, cannot be dispensed with, thus satisfying human needs as well as the guarantor: be-being, evolution and progress. There will never be a human sem social cell and there will never be a sem social cell or human being, such is the concept of two great names of accounting; Fabio Besta (Apud-Frederico Herrmann Júnior 1972, p. 60 e 62):
Nenhuma pessoa pode viver e aperfeiçoar-se, nenhuma sociedade pode tend ao fim that explains to its raison d'être, sem that is processed uma série mais ou less great of phenomena… sem que criem, modify and extinguish relações de natureza variadíssima… entre os components of the union, or between those in the sodality… It has not been seen outside, it is not riches… It has not been shown that there is no manifestation of human activity.
Fundamental condition, therefore, for human evolution and the existence of prosperous aziendas. Accordingly, within each Azienda there is a wealth that is responsible for the number of phenomena to which Besta has previously referred. The wealth that exists within the Azienda is the true object of accounting.
As to azienda and to the fundamental condition for the evolution of an economy, or nation, for being this, a parcel of a society, how could we possibly promote its existence and evolution? What would be the path of studies that could be traced by nossa gnose to reach the vitality of Aziendal? Unequivocally serious would be the observations on the dynamic aspects of the wealth contained in this same particle of society.
Essential condition for the aziendal survival or product of two phenomena of wealth, mainly those that condicem, as a circulatory process and dynamic two bens, which we call working capital, to which we will give special considerations in this artigo.
2-O working capital
When or feudal system dava espaço ao capitalista, or use gives wealth passou ter ter specific purposes e this foi or theme of studies of various thinkers of various branches of knowledge, such as Viana (1978), who said that the feudal system was otherwise static It is not enough for a cinematic produced by the world, as a growth in commercial, financial, industrial and patrimonial practice, which would have to be outgoing as two stages.
Na França em meados do século XIX, o cientista Coffy (1840) pregava on the working capital of aziendas (ou das enterprises, as was the meaning of azienda in the French language), in an interesting and sublime way (Apud - Pfaltzgraf 1956), highlighting its parts and its modifications that cause various causes.
Quase na mesma epoca, Karl Marx (1818-1883), a two great thinkers of sociology, also preaches on the capital, embora tenha feito isto, in a different way, critically and contrary to the economic thought of the time, which was or capitalist (economic system that this author was totally against), embora, never in its boarding, this author dispensed on or state of "operation" of the capital, ou seja, or its devir that it caused constant transformations, paying, even to divide its rotation in three phases: monetary, product and mercantile capital.
At this time marked by an intellectual rhythm, the councils around the lucrative wealth or capital are forming their own Academy of Sciences of França (where Coffy was a convicted and titular member), and in important faculties of Itália, Espanha, Alemanha, and others. countries of Europe (no seculo XIX poucas were faculties not Brazil that dealt with o capital or to lucrative wealth, did not begin the seculo XX with the commercial school Álvares penteado and associação Cristã dos moços, both from São Paulo, seriam ícones pioneiros, for or advento das letras contábeis, from some superior in our country).
A wealth, or aggregate of organized bens, as a common scoop, in the face of its use and constant transformation, is known as the working capital and is understood by capital as all wealth with the accretion of acréscimo, isto é, com or lucrative profit. Such a concept is used in a long way by lucrative aziendas, or seja, nas companies (there is a basic difference between the capital and the patrimony, therefore, this council is the most used by idealistic aziendas, embora, or the council of capital and patrimony which is always used in a common sense).
As capital is in full functional activity and provides constant use for the satisfaction of specific human needs, it is understood that it is in operation, for this reason, to express "operating capital". Or operating capital as a total, as a whole From Bens, as a complex of wealth, I enabled a future or aspiration to generate results for the Azienda so that it survives and reaches prosperity.
In order for the operating capital to function as a vitality, the social cell depends on various pains, some environments, other dynamics, and among these aspects, these are related to the circulation and renovation of two elements. Lembre-se que o patrimônio is how a human organism is fosse, and how this possibility circulates - it is well known and esplanade by Wiliam Harvey (1578 - 1657) in medicine - wealth as “administrative body” also has such power and status of operation.
The efficiency of the operating capital depends on two revolving “fluxes” of its six circulating elements, in absolute harmony, in order to guarantee the satisfaction of the needs that it will consequently transmit to the survival of the social cell and its continued prosperity.
3-A structure of operating capital
Or operating capital has a structure, which is divided into specific groups with their own characteristics, so that all groups with their peculiarities must be linked in absolute harmony with the efficiency and prosperity of Aziendal.
Or scientist Vincenzo Masi (Apud-Sá 1999), the first decades of the 20th century, said that the capital invested in the Azienda, would form a substantia da mesma, and that this, in turn, would originate two financing of counter-substance of capital. A structure of working capital proposed by Masi or pai do patrimonialismo, is as follows:
Substance
Counter-Substance
Circulating
Capital Fixed
Capital Credit Capital or Terceiros
Capital Proprio
From the origins of capital, we have the plots from third parties, which will finance resources for various elements of the substance, we also fear the genuine origin of capital, which has provided two resources from two owners or donos of entrepreneurship, called capital itself. Both resources are covered with financing.
Nas aplicações do capital temos o capital fixo, whose function is to serve the social cell for several periods, pois, is immobilized, we also have circulating capital whose behavioral and dynamic trend, of successive renewal, for various times not period. Both resources are only investments made without patrimony.
Both fixed capital and own capital have the possibility or objective of serving the Azienda for several periods, I tend, therefore, to promote the movement of rapidly circulating capital, or, or third-party capital or circulating capital.
Ou seja, or immobilized in spite of being fixed and slow nature quanto à dynâmica, feared a function of promoting or circulating capital, thus allowing its perfect flow of capital circulation. As well as its own capital that fears a slow operation in the Azienda, it must at the same time promote or its third party capital for the perfect operation of the capital.
The resources invested in non-capital that form the substance must have two components influencing each other (or fixed and circulating capital), as well as the capital financing that forms the counter-substance must also have this mutual influence between its component parts (Capital own and third party capital).
As fixed parties of the capital, this is the parties that have been slow to move (or fixed capital and own capital), become, auxiliary to the circulating parties (or circulating capital and third-party capital), to sign assim uma "sustainability".
Therefore, the slowly turning parts or defaulters have to promote, the fast turning parts, and these parts when they are sustained are very agile, whose efficiency transmits balance in the structure of the operating capital, promoting assim, survival, progress and prosperity of the Aziendal.
4-A circulating mass
A circulating mass is part of the capital whose nature is to be renewed successively, with absolute frequency not period. Such group was constituted of circulating capital (Current assets) and credit capital (Current liabilities). It is also considered a circulating mass, that which is renewed in the shortest period, or seja, in a period of less than one year. It would be serious: either available and performed at short notice and passively required at short term.
Everything or capital has a movement and a speed, being that this speed is subject to various conditions. For example, the condition that inter-agency as immobilized is permanent in the country and can never be equal to the condition of the caixa element. O caixa eo immobilizado possuem, nature and different purposes, in accordance with the Aztec species.
Or thinker Francesco Villa (1840), pai gives Italian accounting, in his work "La contabilità applicata alle administrazione Private e Pubbliche", to classify or capital, opou hair financial aspect, this is, privileging in the first place the elements of mass circulation in face dos fixos as explained by Sá (2005).
Therefore, or study of the circulating mass, it motivated diverse studies, as well as various conceituações e pouco discrepantes. For Sá (2005, p. 121 e 124), in his discourses on the basis of general accounting, two groups of circulating nature, this is, of circulating capital and credit capital would be:
By nature, or circulating, as a group of capital, it is one that tends to transform itself into dinheiro ou já é dinheiro em curto prazo (hair less within an exercise). You have available, real estate, working capital or capital… Or third party capital that is transferred to the Azienda by suppliers, various creators, banks, etc., and can be both short-term and long-term…
Other diverse authors also assume the same definition of circulating capital. We have, therefore, also conceptions of Viana (1971, p. 124):
The best financers are invested in those who, together with the fixed members, form or material substratum of the production, distinguishing these ones, pela maneira com as concoroo a produtivo process: we are subject to various processes and the circulating bens consumed in a single production item… Depending on each of these elements, within the company, it is diverse - the circulating goods are consumed within the company itself and constitute a formative element of the production custodian…
Hilário Franco (1973, p. 162), also addressed the themes of the circulating parts:
"… Those expressões indicate to the patrimony that it undergoes constant movement of companies, as well as the availabilities and values you realize, distinguishing between these credits, stocks and investments. São excluded, therefore, you are permanent captains (fixed or unmobilized assets) and pendent assets, which include random and deferred values. ”
In addition, it is understood by circulating mass apart from the operating capital, the nature of which is to renew more quickly than the other groups, in a period of the fourth period without process of activity of the Aziendal organism.
5-O working capital
It is understood by working capital, or patrimonial phenomenon, which expresses the capacity and durability of the renovation process two component elements of the circulating mass (therefore, this mass is not exclusively a process of rotation, pois, tudo is non-patrimonial movement). We are also known as the Giro de Valores ou rotação do capital.
Or turn é, pois, a circulatory phenomenon, member of the patrimonial dynamics, whose efficiency transmits balance and prosperity to the social cell. Accordingly, with Sá (1999), turn and a set of circulation, or seja, or turn represents a constant in the process of circulation of capital in operation.
A circulation will transform a patrimonial element into another element, for example, or a stock to be sold on demand, will produce a transformation, to a stock in caixa, when the circulation continues and ends not in its own right, we will have a turn. Let's see, then, a pertinent example of the money order:
caixa (in initial situation) Þ stocks Þ Phenomena of Vendas a prazo Þ credits to receive Þ phenomena of receiviment two credits Þ caixa = Primeira renovação do ele ou ouiro Giro = G1
Ou seja, o circulatory process ou o tempo, em that in the first situation do caixa is renewed nova, chama-se money order or working capital. When or working capital is really agile to its tendency to create a liquidity, a boosting result, tracing assim, balance to the working capital and fazendo com that the social cell has vitality and constant efficiency.
As researches undertaken around the working capital and its non-patrimonial influence, Sáram (1965) said that one of the conditions of balance of wealth would be this own circulatory phenomenon (or working capital), or seja, for or survival of the ele It must be balanced for the scope of this state and the capital has a speed of renovation pertinent to the type of estate activity.
The working capital also transmits to the characteristic of circulatory independence, or seja, the elements of the circulating asset when they are not renewed and will be kept divided. Neste ponto de vista, Sá (2004) issued the following theorem: "The greater the speed of working capital and the lesser the need for own capital."
This is when the working capital is speedy, and it will tend to be maintained as the capital of third parties that is prejudiced by the proportions of two capitais, not affecting assimum, or balanced by wealth. This is the case of the bank Aziendas that maintain or be the working capital of the third-party capital, sem or onerar to the equity structure of equilíbrio.
In companies that have a product that is volatile, or seja, a product that does not have as much common use, as a joalheria, for example, or working capital will be slow to generate, as well as the need for circulating capital to be maintained by its own capital.
How much slower or more working capital will depend on the capital of its owners, therefore, it will not be supported by the capital of third parties.
6 - An analysis of working capital
As a working capital, the phenomenon of dynamics, representative of the constant circulation, whose efficiency transmits balance, independence of resources and vitality to the social cell, must be explained as a way of providing suggestions for two managers of the capital..
Therefore, there is a way to explain the turning phenomena to check their efficiency, or to the same extent, for the accounting analysis.
To analyze accounting, pois, a technology of accounting, whose purpose is to explain the patrimonial phenomena, by means of "reasons" of different proportionalities, two components of the working capital, to find out and promote or its pertinent effect, which produced effective social cell.
The phenomena that turn or turn must be analyzed, considering your own and specific aspects, related to each type of undertaking.
A formula proposed by Sá (1973), which I just modified as follows:
(SIEP + VAEP) -SFEP
SIEP + SFEP = Qvg
2
At the speed of the turn (Qvg) and obtained, it takes away from an initial static situation of a patrimonial element (SIEP), added two phenomena that promote an increase in proportion (VAEP), less to a final static situation of the patrimonial element (SFEP), divided It strips medium in two static situations.
Therefore, as the working capital is possible, it will have to be, also, a specific time, which will be calculated by the following formula:
T = Tg
Qvg
Or studied tempo (T), which is the analyst's selective escort (it can be 360 days, 6 months, weekly monthly, etc.), divided hair quociente of speed of turn (Qvg), will grant or tempo do turn (Tg), ou or renewal period of the specific patrimonial element.
It is necessary to know how to use the formula as the correct reason, ou seja, appropriately appropriating the values of its abbreviations, it is also necessary to have a minimum of the patrimonial situations, as well as two specific phenomena that cause an increase in the first situation of the patrimonial element (balanços You are from different years and a demonstration of the results of the exercise is sufficient for this analysis, plus how many more years have been studied in comparison, (for the conclusions of capital efficiency).
Like a circulating mass or a group of circulating capital and third-party capital, the main elements for analyzing capital will be: caixa, credits, stocks and dividends. Table 1 will show how the values of the formula are appropriate to apply to the analysis of working capital in any type of item of circulating mass:
Table 1:
Massa Circulating
Capital Circulating
Elements
Situação Initial
SIEP
variação do item
VAEP
Situação Final
PDFF
Caixa
do value caixa em um period
Receitas and tickets to view
do value caixa em um post-
credits
value do credit em um period
Bandages and tickets prazo
do value em credit a subsequent period
Stocks
Value two stocks in a period
Purchases of Merchandise
Value two stocks in a subsequent period
Credit Capital
Dividends
Situations in a period
Divides contracted no period
Value of the dividends in a subsequent period
This form or reader will be able to analyze or turn the capital in any type of element of the circulating mass, proving that the results of two people should not be passed on to the managers of wealth, in a "cold" way, or, two results of speed The time of the turn will be explained with consistency and relativity, covering the specific situations that surround the Azienda.
It is known that the turn is a peculiar phenomenon and depends on various pains, such as: or type of product, patrimonial activity, market, Azienda objective, etc. Such fators demand that you get two quotients, with a speed and a turning time, that are treated in a special way. Contudo, to efficiency of the turn, in a general way, it is expressed as follows (Veja Tabela 2):
At speed of working capital (Qvg) Working
Capital
Highest or Quotient Melhor for or Venture Minor Quanto
Credit Capital
or Quotient Melhor for or Venture.
Correlation between the speed of the working capital and the capital of credit
A speed of the working capital must be higher than that of third-party capital
How much more agile for or circulating capital melhor for azienda, pois, will have less time to produce liquidity, profitability and equilibrium for or enterprise, in return for the speed of renovation of credit capital (or third parties), must be greater than to of working capital, so that you have more time in the liquidation of the dividends.
In other words, at the rate of renewal two positive elements of the circulating mass (os estoques, credits and caixa) should be higher than at the rate of renewal of two negative elements of the circulating mass (divide), so that the time that money is generated is less than or time required or numerical for or payment of the obligations.
Or working capital, the more agile for, the less time it will take to renew itself and also reciprocally true, or seja, the less time or element cam to renew itself it will be at its speed.
7-Working capital and Azienda survival
A wealth contained in the social cell has a movement that occurs systematically, for this reason, we disseminate that a social cell has a set of systems that operate, simultaneously, hereditary, autonomous and interdependent.
Each system for which it is possible depends, in many ways, on the circulatory vitality of its component elements. Therefore, under the influence of the working capital, it is possible to relate two systems of functions in a certain way; inseparable and unequivocal.
The basic operating capital systems are described above:
Liquidity = system that promotes the ability to pay azienda Resultabilidade
= System that promotes positive results for the enterprise.
Stability = System that promotes or balances the patrimony
Economicidade = System that promotes the vitality and survival of the patrimonial entity.
Or working capital, it is possible, unswervingly, influences of these basic systems of capital (or liquidity, results, stability and economic), se se quais a social cell does not succeed in existing (To exist to azienda precise, basically, pay you seus commitments in day, to generate positive results in the balance in the structure, contrary to the loss of vitality and ends up becoming extinct).
Or the first system that or working capital has influences of liquidity, inclusive, for this reason that Sá (1965), to allude to exist a dynamic liquidity of operating capital, such liquidity would be that real, that has a total relationship with the processes circulatory and working capital.
Working capital is agile for the higher capacity to generate money at less time than the payment requirements. The result of working capital efficiency is a boa solvency of wealth, thus defining a liquidity movement efficiency.
In the same way that the working capital has influence on liquidity, it produces influences not a system of results. The faster it is for two twists and two credits, the larger it will be by default, relative to the bandages and the sworn years, the larger it will be to the profit-making capacity of the operating capital. peças a 15 reais. Therefore, as much faster than the speed of circulation, it will be the same as the province of the month (it will sell more and it will profit more).
Or working capital, when effective, will also cause the capital to be balanced, at the rate that wealth operates as the elements of the circulating mass are renewed and will transmit balance in proportion, transferring stability to or capital.
When there is an azienda investimentos (applications of resources) or financing (sources of resources), esdrúxulos, ela não terá agilidade do capital, ea efficácia do giro, for certain times (in really "donor" ventures) it will be a chimera. When this chimera turns to a real company, it will be a balanced equilibrium and it will really prosper.
The efficiency of the transfer will bring positive consequences for liquidity, profitability and stability, defining as well as solvency, profit and balance of capital, consequently tracing survival for the aziendal entity.
And when the liquidity systems, profitability and economy, they will be effective only if the economy of capital will also be effective, as a social cell that we call azienda will survive and procreate generating income, economic growth and social benefits, mainly to its subject breeder: or human being.
8-Conclusão
Or working capital and a phenomenon of patrimonial dynamics, representative of the group of circulations, that generated important and forceful transformations for the efficiency of the wealth in operation, which consequently will bring vitality to the social cell or the aziendal subject.
As a phenomenon of patrimony, or object of studies of the accounting, or turn, it must be explained, by the technology of analysis, which will look for the integral reasons of the same phenomenon, to undermine the peculiar conditions related to the type of enterprise, always with the intuition of finding out to efficiency of its operation, not constant becoming aziendal.
It is up to us accountants to produce guidance on this important circulatory phenomena, highlighting its properties, influences and peculiarities, for example, the efficiency of the working capital will transmit solvency, profitability, balance and vitality to the operating capital, also tracing assim, prosperity to social cell that will bring positive influences for the society to which it is inserted, as well as for homem, due to its existence.
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