Table 1 – Comparative analytical balance PJSC ANK “Bashneft”

We will estimate the dynamics of changes in the immobilized assets of PJSC «Bashneft».
Most sostavlyayayuschih immobilizoovannyh assets increased compared with the year 2012 in comparison with 2013 year observed multidirectional dynamics.

However, such changes dinamikai compiling immobilizoovannyh assets as research and development is negative. Otkloenie on the results achieved in 2012 sostavlet (-482,560) thousand. Rub.
At the same time the negative dynamics of this index is associated with a reduction in the size of the results of research and development in otraennyh sostve immobilizoannyh assets of PJSC «Bashneft» [3, c.149].
In this case the absolute value of intangible assets increased by 22 668 thousand. Rub. and amounted to 29 463 thousand. rub. The highest growth is observed intangible assets for the period from 31.12.2012 on 31.12.2013. At the end of this period, the value of intangible assets increased and amounted to 5,705,072 thousand. rub.

Fixed assets of PJSC «Bashneft” during the analyzed period increased by 21,280 450tys. rub. and amounted to 115 927 025 thous. rubles.
A significant increase in the value of fixed assets occurred during the period from 31.12.2012 until 31.12.2013, when the value of the property increased by 17,485,817 thousand. Rub. and amounted to 115 927 025 thous. rubles. The greatest absolute value of 115 927 025 thousand. Rub. fixed assets value reached in 2014.
Changes in fixed assets in absolute terms is shown in Figure 3.

The indicator reflects the income-bearing investments in tangible assets increased by 1,820,922 thousand. Rub. and amounted to 7,443,073 thousand. rub.
Long-term investments in the period from 31.12.2012 on 31.12.2014 increased in absolute terms by 46,303,364 thousand. Rub., In relative to 38.49%.
The absolute value of other non-current assets for the period from 31.12.2012 till 31.12.2014 has decreased by 1,751,230 thousand. Rub. and amounted to 10,284,783 thousand. rub.
The indicator value of stocks on 31.12.2014 to 31.12.2012 has increased in absolute terms by 11,610,070 thousand. Rub. and amounted to 37,856,349 thousand. rub.
The most significant growth of this indicator has occurred with the 31.12.2013 on 31.12.2014. During this period, the value of stocks increased by 6,091,221 thousand. rub.

The significant weight in the overall balance sheet structure is subjected to be carried summma VAT which is recoverable from the federal budget [4, c.7].
It should be noted that at the beginning and end of the study period, this figure has a large weight in the total balance sheet structure. Also, its absolute value increased by 1,616,555 thousand. Rub.
Index of accounts receivable for the period from 31.12.2012 31.12.2014 decreased in the year. The largest decrease occurred in the period from 31.12.2012 on 31.12.2014. During this period, this figure has changed to (4657277 thous. Rub.).
The share of this indicator in the total amount of working capital sotstavilo 46.62% as at 31.12.2012 and 33.12% as at 31.12.2014 year.
It should be noted that for the period from 31.12.2012 till 31.12.2014, the share of receivables exceeds the standard value, which constitutes 25-27% of the total current assets.
The level of investments PJSC ANK “Bashneft” has decreased by 22,303,151 thousand. Rub. This is explained by the reduction of investments in the company’s funds kratkorsrochnye securities of the corporate sector as well as in government securities.
Most likivdnaya component of the balance sheet asset of the enterprise – the funds for the period from 31.12.2012 till 31.12.2014 year increased by 34,757,817 thousand rubles and reached at 31.12.2014 46,935,495 thousand. rub.
The structure of the liabilities of PJSC «Bashneft” is shown in Figure 5.

Figure 5 illustrates the basic components of the balance sheet liability as of 31.12.2014. Equity PJSC «Bashneft” is 30,01% of the total Company liabilities, non-current liabilities amount to 39.83% of the company’s liabilities, while the share of short-term liabilities is equal to 30.16%.
Carry out an assessment of its own capital of the enterprise. It is composed on 31.12.2014 is possible to allocate additional capital, capital reserve and retained earnings.
The absolute value of the additional capital decreased by 36,955,188 thousand. Rub. and amounted to 4,937,220 thousand. rub.
It should be noted that the balance of the reserve capital structure is present, the absolute value of which increased by 34 108 thousand. Rub. and was 34 108 thousand. rub.
According to the balance sheet can be seen that at the end of each period in the company’s balance sheet reflected retained earnings of the company. According to the balance of retained earnings of the absolute figure rose to 9,420,851 thousand. Rub. and amounted to 126 893 877 thous. rubles.
The value of long-term debt peaked in the amount of 168 092 355 thous. Rubles. to 31.12.2014, value of this indicator increased in comparison with the value at 31.12.2012 to 59,071,761 thousand. rub. In relative terms, the increase was 64.86% of the original level [5, c.72].
The highest value in the structure of long-term liabilities at beginning of period are borrowed funds, which account at beginning of period 85.19% of the total long-term liabilities. At the end of the period the level of long-term liabilities amounts to 77.19% of the total long-term liabilities.
The absolute value of short-term debt obligations at 31.12.2014 year has increased compared to 31.12.2012 to 10,539,848 thousand. Rub. and amounted to 28,556,129 thousand. rub.
Indicator payable PJSC ANK “Bashneft” has increased in comparison with the similar indicator as of 31.12.2012 to 35,523,133 thousand. Rub. and amounted to 96,806,636 thousand. rub. The largest increase in this indicator was observed in the period from 31.12.2012 until 31.12.2014 year.
It should be noted that during the analyzed period there was a change in the ratio between receivables and payables.
At the beginning of the analyzed period 31.12.2012 receivables increased accounts by 15.1%, and as of 31.12.2013 the accounts payable were higher receivables by 78%.
The situation with the ratio of accounts receivable and accounts payable of the enterprise make it necessary to develop measures to improve the company’s balance sheet structure.
The second stage will conduct an analysis of profit and profitability. Profit is an indicator based on which to assess the effectiveness of the enterprise. This profit is the main source of funding for the company.
We analyze the main components of the profit of PJSC «Bashneft”
Table 2 – Analysis of the main components of the profit of PJSC «Bashneft”

As can be seen from Table 2 of PJSC «Bashneft ‘revenue rose 111 020 792 thous. Rubles. and amounted to 637 360 371 thous. rubles.
Table 2 shows that income from ordinary increased by 92,914,966 thousand. Rub. In relative terms, revenues from ordinary activities increased by 18.99%.
Expected interest income increased by 1,753,988 thousand. Rub. or 37.52%
Revenues PJSC «Bashneft” from participation in other companies decreased by 398 631 thous. Rubles. In relative terms, revenues from participation decreased by 24.23% in other organizations.
Other income of PJSC «Bashneft” grew in absolute terms by 16,750,469 thousand. Rub. or 54.37%.
The largest share in the composition of the organization income is income from ordinary activities. The share of these revenues is 91.33%.
Expenses PJSC ANK “Bashneft” has increased to 84071031 thousand. Rub. and amounted to 554 377 181 thous. rubles.
Let us consider the main components of the company’s expenses.
In absolute terms, expenditure on ordinary activities increased by 74,883,033 thousand. Rub. or 17.73% in relative terms.
If we analyze the data specified in Table 2.2, we can conclude that the interest payable increased by 797 645 thous. Rubles. in relative terms, the increase in interest payable amounted to 7.41%.
The increase in other expenses in absolute terms amounted to 8,390,353 thousand. Rub., And in relative terms by 22.63%.
The total volume of PJSC «Bashneft” costs prevail expenses from ordinary activities 89.71%.
In general, the analysis of the main components of the profit of PJSC «Bashneft” has shown that the dynamics of the company’s financial performance is positive, although some indicators, such as income from participation in other organizations tend to decrease.
Table 3 – The dynamics of factors of formation of financial results of PJSC «Bashneft”

During the period from 31.12.2012 till 31.12.2014, the Company PJSC ANK “Bashneft” has increased the size of the resulting gross profit. The main factors that contributed to the profit growth of steel – by 129.1 change in revenue, 29.11% on cost variation.
The growth of income from sales 18,031,933 thousand. Rub. due to the growth in gross profit.
The increase in financial income to 26,949,761 thousand. Rub. It was due to the growth in profits from sales to 66.91% and an increase in the balance of other income and expenses 33.09%.
On the formation of the net profit (loss) for the reporting period provided by: an increase in profit before tax – 42.87%, and an increase in the amount of taxes paid from profits to 29.55%.
We will estimate the yield of PJSC «Bashneft” on the basis of available data, the financial statements of the Company.
yield evaluation results are shown in Table 4.
Table 4 – Results of yield estimation PJSC ANK “Bashneft”

As can be seen from Table 4 Indicators of profitability ANK “Bashneft” PJSC are mixed trends. For example, the yield on assets declined compared to the year 2012, but has grown in comparison with 2013 year. profitability ratios of total expenditure, on the contrary has grown in comparison with 2012 and decreased in comparison with 2013 year.
Changes in these parameters is shown in Figure 6.

Next, analyze the indicators of financial profitability of the company, ie return on borrowed capital, the ratio of profit to loan capital, sources of venture funds and their components. Changes in these parameters are shown in Table 5.
Table 5 – Changes in financial profitability

As seen in Table 5, the dynamics of change in the financial profitability is a positive trend. Compared with 2012, in 2014 there was growth in all profitability indicators with the exception of return on borrowed capital.
On specific issues in the enterprise may indicate that a decrease in financial indicators of profitability compared with 2013 year.

Economic profitability of PJSC «Bashneft” shows a similar trend.
Table 6 – Changes in indicators of economic profitability

Table 7 – Changes in the profitability of production and sales

Changes in profitability of production and sales as a whole is positive, however, it should be noted that, as in the analysis of other species to observe the dynamics of profitability decrease compared with 2013 year.

The evaluation of the comparative analytical balance PJSC ANK “Bashneft”, as well as assessment of the profitability of the company has allowed to reveal that the whole society is functioning stably, but in his work observed a number of negative trends, such as an increase in accounts receivable and a decrease of profitability and return on PJSC «Bashneft “in the short term. This negative trend is related to the economic instability in Russia, the fall of the ruble, and the introduction of sanctions against Russia the European Union and the United States. Therefore, the future owner of PJSC mazhiritarnomu ANK “Bashneft” – PJSC “NC” Rosneft “needs an action plan allowing to restore profitability and profitability of the enterprise and provide an acceptable level of accounts payable.

In 2014, the company PJSC “LUKOIL” revenues increased by 108,165 592tys. rub. and amounted to 460 730 789 thousand. rubles [2, c.85].
Changes in income from ordinary activities is shown in Figure 2.

Figure 2 shows that the income from ordinary rose by 202 973 461 thous. Rubles. In relative terms, revenues from ordinary activities increased by 508.62% [3, c.390].
Expected interest income increased by 2,069,945 thousand. Rub. or 5.01%
Revenues PJSC “LUKOIL” of participation in other companies decreased by 265 160 347 thous. Rubles. In relative terms, revenues from participation decreased by 100% in other organizations [4, c.3].
Other income of PJSC “LUKOIL” grew in absolute terms by 168 282 533 thous. Rubles. or 2728.88%.
The largest share in the composition of the organization income is income from ordinary activities. The share of these revenues is 52.72% [4, c.240].
Estimating income of PJSC “LUKOIL” will assess the costs that arise during the preparation of the company’s revenue.
Dynamics of PJSC “LUKOIL” expenditures is shown in Figure 3.

Expenses PJSC “LUKOIL” decreased by 71,637,347 thousand. Rub. and amounted to 62,228,137 thousand. rub.
Let us consider the main components of the company’s expenses [5, c.6].
In absolute terms, expenditure on ordinary activities increased by 4,574,748 thousand. Rub. or 12.92% in relative terms.
Based on the assessment of the financial statements it can be concluded that the interest expense decreased by 1,253,182 thousand. Rub. in relative terms, the increase in interest payable amounted to 6.31% [7, c.25].
The increase in other expenses in absolute terms amounted to 74,958,913 thousand. Rub., And in relative terms by 96.06%.
The total volume of PJSC “LUKOIL”, is dominated by the cost of expenses from ordinary activities 64.24%.
In general, the analysis of the main components of the profit of PJSC “LUKOIL” has shown that the dynamics of the company’s financial performance is positive, although some indicators, such as income from participation in other organizations tend to decrease [8, c.129].
Let’s consider the relative indicators characterizing the profitability of PJSC “LUKOIL”.

As shown in Figure 6 for the period from 31.12.2012 till 31.12.2014, the company PJSC “LUKOIL” has increased the size of the resulting gross profit. The main factors that contributed to the profit growth

of steel – 99.8% change in revenue by (-0.22%) change in cost [10, c.95].

Changes in administrative expenses is positive, compared with 2013 a year, a decrease in administrative expenses, which positively characterizes the economic activity of the enterprise,

but as a whole the rise of administrative expenses compared with 2012, indicating that the negative trend in the economic activity of the enterprise [11, c .540].

The growth of profit on sales on 198 398 713 thous. Rubles. due to the growth in gross profit.

The increase in the accounting profits of PJSC “LUKOIL” on 179 802 939 thous. Rubles. It was due to the growth in profits from sales to 66.91% and an

increase in the balance of other income and expenses to 110.34%.
On the formation of the net profit (loss) for the reporting period provided by: an increase in profit before tax – 12.07%, and an increase in the amount
of taxes paid from profits to 16.7% [12, c. 194].
Carry out an assessment of return on capital of PJSC “LUKOIL” on the basis of available data, the financial statements of the company [13, c.150].
return on capital evaluation results are shown in Figure 9.

As can be seen from Table 9 “LUKOIL” return on capital performance PAO have mixed trends. For example, the rate of return on equity decreased compared to the year 2012,
but has grown in comparison with 2013 year. of return on assets, on the contrary it increased compared with 2012 [14, c.8].
Other relative profitability of PJSC “LUKOIL”, figures are shown in Figure 10.

As seen in Figure 10 Dynamics of changes in relative profitability indicators of PJSC “LUKOIL” positive.
Next, analyze the rate of financial profitability of the company, ie return on borrowed capital, the ratio of profit to loan capital, sources of venture funds and their components [16, c.480].
Changes in these parameters is shown in Figure 11 and Figure 12.

The figures 11 and 12 shows that the dynamics of change in profitability is a positive trend. Compared with 2012, in 2014 there was growth in all profitability indicators [17, c. 5].
On specific issues in the enterprise can say that there is a decrease in profitability in 2013, which may indicate recurrent problems associated with the activities of the enterprise [18, c.180].

Economic profitability of PJSC “LUKOIL”, is shown in Figure 13 shows a similar trend.

Changes in profitability of production and sales (see Figure 14 and Figure 15) as a whole is positive, it may be noted positive dynamics of changes in the profitability of production in comparison with 2012, 2013 year [19, c. 143].

In conclusion we will assess the relation of own and borrowed funds of the company, as well as the conduct of liquidity coefficient values covering ratio of equity and debt, profitability and production activity of the enterprise on the basis of the available accounting data [20, c.25].
Dynamics of changes in these indicators over the period from 2012 to 2014 is shown in Table 2.
Table 2 – Dynamics of indicators of creditworthiness harrakterizuyuschih PJSC “LUKOIL”

The assessment of capital structure of PJSC “LUKOIL”, as well as the assessment of the return on capital allowed to reveal that the whole society is functioning stably, but in his work observed a number of negative trends [21, c.160].
This negative trend is related to the economic instability in Russia, the depreciation of the ruble and oil prices, and the introduction of sanctions against Russia the European Union and the United States.