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2017, vol. 64, br. 3, str. 1065-1080
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Finansiranje trajnih obrtnih sredstava u poljoprivredi
Financing of permanent working capital in agriculture
Sažetak
U ovom radu izvršen je pokušaj da se predoči problem uspostavljanja adekvatne strukture finansiranja srednjih poljoprivrednih preduzeća i da se ukaže na potrebu za trajnim obrtnim sredstvima u onim poljoprivrednim preduzećima koja sopstvenim kapitalom i dugoročnim izvorima finansiranja ne uspevaju da pokriju stalnu imovinu, dugoročne plasmane i deo zaliha (materijal i rezervni delovi, proizvodnja u toku). U svrhu procene adekvatne strukture finansiranja srednjih poljoprivrednih preduzeća, koristićemo jedan od najpopularnijih metoda, kao što je studija slučaja i racio analiza. Rezultati istraživanja ukazuju na to da su u primarnoj poljoprivrednoj proizvodnji, pored standardnih investicionih dugoročnih kredita i kratkoročnih kredita za ulaganja u poljoprivrednu proizvodnju, neophodna i finansiranja u trajna obrtna sredstva zahvaljujući kojima bi se potpomogao kontinuitet procesa proizvodnje i omogućili uslovi za profitabilnije poslovanje u poljoprivredi. Trebalo bi naglasiti i to da se realna i knjigovodstvena vrednost ovog nivoa trajnih obrtnih sredstava značajno međusobno razlikuju.
Abstract
In this paper, we attempted to present the problem of establishing adequate structure of financing medium agricultural enterprises and to point out the necessity for permanent working capital in those agricultural enterprises which can’t cover fixed assets, long-term placements and portion of inventories (raw material and spare parts, production in process) with own equity and long-term sources of financing. For the purpose of analysing adequate structure of financing medium agricultural enterprises, we will use one of the most popular methods, such as case study and ratio analysis. Results of the research show that in primary agricultural production, next to standard long-term investment loans and short-term loans for investment in agricultural production, there is a necessity for financing in the permanent working capital which could assist continuity of production process and enable conditions for more profitable business in agriculture. It also should be noted that real and book value on this level of permanent working capital differs substantially.
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