The break-even operation of an enterprise depends on many factors, including the choice of the optimal volume of production and the appropriate pace of development of the enterprise. To conduct a break-even analysis of production, a necessary condition is the division of enterprise costs into fixed and variable. To calculate the amount of revenue covering fixed and variable costs, manufacturing enterprises in their practice use indicators such as the size and rate of marginal income.

Marginal income (MD) is the difference between the company's revenue from the sale of products (works, services) (B) and the sum of variable costs (FROM PERM):

MD = V - AC (6.13)

On the other hand, the value of marginal income can be determined by adding the fixed costs (C POST) and the profit of the enterprise (P):

MD \u003d C POST + P. (6.14)

The value of marginal income shows the contribution of the enterprise to cover fixed costs and profit.

Under the average contribution margin understand the difference between the price of products and average variable costs. The average contribution margin reflects the contribution of a unit of a product to covering fixed costs and making a profit, and can be determined as follows:

MD SR \u003d C -. (6.15)

The rate of marginal income (N MD) is the share of marginal income (MD) in sales proceeds (B) or the share of the average value of marginal income (MD SR) in the price of goods (C) (for an individual product).

(6.16)

. (6.17)

For the analysis of break-even it is necessary to be able to determine the break-even point (self-sufficiency) of the enterprise.

The break-even point is the volume of production and sales at which the income received provides reimbursement for all costs and expenses, but does not make it possible to make a profit, in other words, this is the lower limit of output at which profit is zero.

The break-even point is characterized by the following indicators.

1) Critical (threshold) volume of production and sales:

, (6.18)

where WITH POST - fixed costs for the annual volume of production;

C - the price of a unit of production;

- specific variable costs (variable costs per unit of output).

2) Threshold of profitability (PR), which is the proceeds from the sale of the critical volume of production, at which the enterprise no longer has losses, but still does not make a profit:

PR \u003d Q CRIT × C. (6.19)

3) Margin of financial strength (FFP), defined as the difference between the proceeds from the sale of products (B) and the profitability threshold (PR), showing how much the company can afford to reduce revenue without leaving the profit zone:

ZFP \u003d B - PR. (6.20)

4) Margin of safety (MB), defined as the difference between the volume of sales in physical terms (Q FACT) and the critical volume of sales (Q CRIT):

MB = Q FACT - Q CRIT. (6.21)

The last two indicators measure how far the company is from the breakeven point. This affects the priority of management decisions. If the enterprise approaches the break-even point, then the problem of managing fixed costs increases, as their share in the cost increases.

The margin of safety (MW) is the percentage deviation of the actual proceeds from the sale of products (works, services) (B) from the profitability threshold:

. (6.22)

Production leverage (leverage in literal translation - a lever) is a mechanism for managing the profit of an enterprise, based on optimizing the ratio of fixed and variable costs. With its help, you can predict the change in the profit of the enterprise depending on the change in sales volume, as well as determine the break-even point.

A necessary condition for the use of the production leverage mechanism is the use of the margin method. The lower the share of fixed costs in the total cost of the enterprise, the more the amount of profit changes in relation to the rate of change in the company's revenue. Operating leverage is determined using the following formula:

where EPL is the effect of production leverage.

The value of the effect of production leverage found using this formula is further used to predict the change in profit depending on the change in the company's revenue. To do this, use the following formula:

where ∆P is the change in profit from sales, %;

∆В is the change in sales proceeds, %.

With the graphical method, finding the break-even point is reduced to building a comprehensive "costs - volume - profit" schedule. The graph is shown in Figure 6.1.

Figure 6.1 - Break even chart

Algorithm for constructing a break-even point.

1) On the graph of the ratio of the volume of output (in kind) and the values ​​of revenue and costs, a curve of fixed costs (C POST) is plotted. Since fixed costs do not depend on the volume of production, the fixed cost curve is parallel to the x-axis.

2) A curve of variable costs (FROM VARIABLE) is constructed (one point corresponds to the origin of coordinates - at zero production, variable costs are not implemented, the other point corresponds to the value of variable costs at actual production volume).

3) A curve of total costs (C LPO) (the sum of fixed and variable costs) is plotted, parallel to the curve of variable costs, higher by the amount of fixed costs.

4) The revenue curve (B) is built (one point corresponds to the origin of coordinates - in the absence of sales, the revenue is zero, the other point corresponds to the revenue from sales of the actual volume).

5) The intersection of the curves of total costs and revenue shows the break-even point.

6) When a perpendicular is drawn from the break-even point to the abscissa axis (X axis), a critical (threshold) volume of production and sales (Q CRIT) is obtained, when a perpendicular is drawn to the ordinate axis (Y axis), the profitability threshold is obtained.

Examples of problem solutions

Task 1

The company sells the product at a price of 575 rubles. The total fixed costs for its production amount to 235,000 rubles. Specific variable costs in 2004 amounted to 320 rubles. Material prices declined in 2005, resulting in a 15% reduction in unit variable costs. Determine how the critical volume of production was affected by changes in material prices.

Given:

C \u003d 575 rubles;

WITH POST \u003d 235,000 rubles;

WITH PER1 \u003d 320 rubles;

FROM PER2 ↓ by 15%.

Solution:

; ed.; ed.;

ΔQ = 776 – 922 = - 146 ed.

A 15% reduction in variable costs resulted in a reduction in critical production by 146 items.

Task 2

Planned indicators for product A are: price 57 rubles, cost 50 rubles. During the year, the company achieved a reduction in the cost of production for product A by 8%. The wholesale price remained unchanged. Determine how the profitability of products has changed.

Given:

C \u003d 57 rubles;

C 1 \u003d 50 rubles;

From 2 ↓ to 8%.

Solution:

; ; ;

ΔR = 23.91 - 14 = 9.91%.

Reducing the cost of production by 8% led to an increase in the profitability of products by 9.91%.

Task 3

Revenue including indirect taxes is 2560 thousand rubles, including VAT - 10%, excise tax 120 thousand rubles, cost of goods sold 1300 thousand rubles, selling and management expenses 570 thousand rubles. Interest receivable 108 thousand rubles, non-operating income 302 thousand rubles, non-operating expenses 328 thousand rubles. other operating income 286 thousand rubles, other operating expenses 135 thousand rubles. Determine the gross profit, profit from sales, profit before tax and net profit, profitability of production from net profit, profitability of products and sales from profit from sales, if the income tax is 20%, the average annual cost of the OPF is 2250 thousand rubles, and the cost of turnaround production funds 520 thousand rubles.

Given:

B \u003d 2560 thousand rubles;

Excise tax = 120 thousand rubles;

WITH PROD = 1300 thousand rubles;

KR and SD = 570 thousand rubles;

% FLOOR = 108 thousand rubles;

D OP = 286 thousand rubles;

R OP \u003d 135 thousand rubles;

D VNER = 302 thousand rubles;

P VNER \u003d 328 thousand rubles;

OF = 2250 thousand rubles;

OS = 520 thousand rubles.

P SHAFT, P PROD, P TAX, P H, R PROD, R SALES, R OPF - ?

Solution:

WITHOUT VAT \u003d 2560: 1.1 \u003d 2327.27 thousand rubles. – revenue excluding VAT;

WITHOUT VAT AND ACC = 2327.27 - 120 = 2207.27 thousand rubles. – revenue excluding VAT and excises;

P SHAFT \u003d B - C PROD;

P VAL \u003d 2207.27 - 1300 \u003d 907.27 thousand rubles. - gross profit;

P PROD \u003d P SHAFT - KR - UR.

P PROD \u003d 907.27 - 570 \u003d 337.27 thousand rubles. - revenue from sales;

P TAX \u003d P PROD +% FLOOR + D OP - R OP + D VNER - R VNER;

P TAX \u003d 337.27 + 108 + 286 - 135 + 302 - 328 \u003d 570.27 thousand rubles. - profit before tax;

P H \u003d P TAX - N PR;

P H \u003d 570.27 × (1 - 0.2) \u003d 456.22 thousand rubles. - net profit;

; - profitability of products;

; - profitability of sales;

; - Profitability of production.

Introduction 3
1. Theoretical aspects of break-even enterprises of the tourism industry 4
1.1. The concept and essence of the break-even enterprise 4
1.2. Methodology for determining the break-even point in the tourism industry 7
2. Analysis of the break-even of the enterprise of the tourism industry on the example of LLC "Galant Tour" 11
2.1. General characteristics of the travel agency 11
2.2. Determination of the break-even point of sales in Galant Tour LLC 14
Conclusion 19
List of used literature 21

The relevance of the topic of the course work is determined by the fact that in order to successfully conduct commercial activities, a tourism industry enterprise needs to know exactly how much it will be necessary to sell a tourist product or service to cover all costs. At the same time, the sale of a product or service in an amount less than the value of the break-even point leads the travel company to losses, and to a larger one - to profit.

1. Federal Law of November 24, 1996 No. 132-FZ “On the basics of tourism activities in the Russian Federation” (with the latest amendments and additions) // Inform.-Pravov. Garant system. – Date of access: 16.05.2015
2. Balabanov I.T., Balabanov A.I. Economics of tourism: Proc. allowance. - M.: Finance and statistics, 2011. - 290 p.
3. Bogdanov E.I., Bogomolova E.S., Orlovskaya V.P. Economics of the tourism industry. Textbook. – M.: Bustard, 2014. – 320 p.
4. Borodin V.V. The economics of tourism. – M.: Forum, 2011. – 240 p.
5. Braicheva T.V. Enterprise economy. - St. Petersburg. Peter, 2013. - 462 p.
6. Butko I.I. Tourist business: the basics of the organization - Rostov n / D: Phoenix, 2013. - 384 p.
7. Gulyaev V.G. Organization of tourism activities. - M.: Pravo, 2011. - 315p.
8. Dmitrieva M.N. Zabaeva M.N., Malygina E.N. Economics of the tourist market: a textbook. - M.: Unity-Dana, 2012. - 294 p.
9. Dracheva E., Zabaev Yu., Ismaev D. Economy and organization of tourism. Proc. allowance. – M.: KnoRus, 2015. – 566 p.
10. Ovcharov A.O. The economics of tourism. Proc. allowance. – M.: Infra-M, 2014. – 256 p.
11. Raitsky K.A. Enterprise Economics: A Textbook for High Schools. - M.: Dashkov i K, 2014. - 1012 p.
12. Dark Yu.V., Dark L.R. The economics of tourism. – M.: Infra-M, 2010. – 448 p.
13. Trukhachev V.I., Lyakisheva I.N. Economics of international tourism. Proc. allowance. – M.: Yurayt, 2015. – 418 p.
14. Ushakov D.S. Economics of the tourism industry. - Rostov n / D .: Phoenix, 2010. - 448 p.
15. Hitskova I.F. Economics of tourism - M.: Finance and statistics, 2011. - 243 p.
16. Cherevichko T.V. The economics of tourism. Proc. allowance. – M.: Dashkov i Ko, 2012. – 264 p.
17. Shmalen G. Fundamentals and problems of enterprise economics. - M.: Finance and statistics, 2014 - 406 p.
18. Economics of tourism: textbook / M.A. Morozov, N.S. Morozova, G.A. Karpova, L.V. Khoreva. - M.: Federal Agency for Tourism, 2014. - 320 p.

Subject:	Economic foundations of the break-even theory of tourism industry enterprises on the example of Galant-Tour
Vendor code:	1505216
Date of writing:	18.05.2015
Kind of work:	Course work
Item:	Economics of the tourism industry
university:	Russian New Open University (RosNOU)
Scientific:	-
Originality:	Anti-plagiarism. University - 64%
Number of pages:	23

Break-even point: concept, calculation method, application

The break-even operation of a hotel enterprise depends on many factors, including the choice of the optimal volume of production and provision of services and the appropriate pace of development. The amount of revenue must cover all costs incurred and ensure profit. To solve this problem, there is an appropriate analytical tool.

Cover amount- the difference between revenue and total variable costs, i.e. sum of fixed costs and profits. To calculate the amount of coverage, all variable costs (sometimes called direct costs) are deducted from revenue, as well as part of the overhead costs, which depend on the volume of production and provision of services and therefore are classified as variable costs.

Under average coverage understand the difference between the unit price of a service and the average variable cost. The average coverage reflects the contribution of a unit of service to covering fixed costs and profit.

coverage ratio called the share of the amount of coverage in the proceeds from the sale. For a single unit of service, the coverage ratio is the share of the average coverage in the price for that unit of service.

Break even(critical volume of services (sales)) - this is the volume of sales in which the income received provides reimbursement for all costs and expenses, but does not make it possible to make a profit, in other words, this is the lower limit for the provision of services, at which profit is zero.

The break-even points of a hotel, for example, characterize the following indicators:

threshold (critical) sales volume- revenue, which corresponds to the break-even point.

profitability threshold- such proceeds from the sale, in which the company no longer has losses, but still does not receive profit.

margin of financial strength- the amount by which the hotel company can afford to reduce revenue without leaving the profit zone, or the deviation of actual revenue from the threshold.

The financial safety margin can also be calculated as a percentage if a percentage deviation is established;

margin of safety- the difference between the income from break-even sales and the income from sales at some level of their volume. A high margin of safety indicates a relatively safe position for a business.

We present the calculation of the break-even point on the example of the data in Table. 7.2 and depict it in fig. 7.1.

Rice. 7.1.

• 1. Threshold (critical) sales volume = 100,000 rubles:: (386 - 251) rubles / number. = 740 numbers;
• 2. Threshold of profitability = 740 numbers x 386 rubles/room. =

RUB 285,700

• 3. Margin of financial strength = 386,000 rubles. - 285,700 rubles. = = 100 300 rub.
• 4. Security margin = 1000 numbers - 740 numbers = = 260 numbers.

Table 7.2. Initial data for calculation

Thus, with the volume of sales (sales) of 740 rooms and the proceeds from the sale of 285,700 rubles. the hotel reimburses all costs and expenses with the income received, while the profit of the enterprise is zero. This state is called the "break-even point" or "dead point". The margin of financial strength in this case is 100,300 rubles.

The greater the difference between the actual volume of services provided and the critical one, the higher the "financial strength" of the hotel enterprise, and, consequently, its financial stability.

The value of the critical volume of sales and the threshold of profitability is influenced by the change in the amount of fixed costs, the value of average variable costs and the price level. Thus, a hotel company with a small share of fixed costs can produce relatively fewer services than a company with a large share of fixed costs in order to ensure the break-even and safety of its production. The margin of financial strength of such a hotel enterprise is higher than that of an enterprise with a larger share of fixed costs.

The financial results of an enterprise with a low level of fixed costs are less dependent on changes in the physical volume of services provided. A hotel company with a high proportion of fixed costs should be much more wary of a decrease in room capacity.

The break-even operation of an enterprise depends on many factors, including the choice of the optimal volume of production and the appropriate pace of development of the enterprise. For the analysis of break-even it is necessary to be able to determine the break-even point (self-sufficiency) of the enterprise. The break-even point (critical volume of production or sales) is the volume of sales at which the income received provides reimbursement for all costs, but does not provide an opportunity to make a profit. In other words, it is the lower limit of output at which profit is zero. To determine the break-even point in practice, three methods are used:

mathematical;

graphic;

gross profit method (marginal income).

The threshold of profitability is the proceeds from sales, at which the company no longer has losses, but still does not receive profits, that is, this is a critical volume of sales, but not in kind, but in value terms. The margin of financial strength is the amount by which the company can reduce revenue without leaving the profit zone, while necessarily receiving some amount of profit from the sale of products.

The indicators "margin of financial strength" and "margin of safety" (the first - in value, the second - in physical terms) assess the financial condition of the enterprise, which affects the adoption of managerial decisions. If the company approaches the break-even point, then the problem of managing fixed costs increases, as their share in the cost increases. Semi-fixed costs are depreciation, management and repair costs, rent, interest on a loan, taxes attributable to the cost of production, etc. The greater the difference between the actual volume of production and the critical one, the greater the margin of financial strength of the enterprise and hence its financial stability.

The value of the critical volume of sales and the threshold of profitability is influenced by the change in the amount of fixed costs, the value of average variable costs and the price level. Thus, an enterprise with a small share of fixed incomes can produce relatively less products than an enterprise with a large share of fixed costs in order to ensure the break-even and safety of its production. The margin of financial strength of such an enterprise is higher than that of an enterprise with a larger share of fixed costs. Thus, the margin of financial strength of an enterprise with a smaller share of fixed costs is greater than that of an enterprise with a significant share of fixed costs.

Along with the indicators listed above, to analyze the break-even operation of an enterprise, indicators of marginal income (gross margin), relative income and gear ratio (production leverage) are used. Marginal revenue (gross margin) is the difference between sales revenue and the variable costs of its production, i.e. it includes the sum of fixed costs plus profit. Relative revenue is the ratio of marginal revenue to sales revenue, expressed as a percentage.

The gear ratio is the ratio of marginal revenue to the profit from product sales. The gear ratio expresses the relationship between variable and fixed costs. It is the higher, the higher the fixed costs in relation to the variables. With an equal growth in sales volume, higher profit growth rates will be for those enterprises that have a higher value of the “gear ratio” indicator.

In the context of scientific and technological progress, fixed costs grow at a higher rate than variables due to the use of more productive and, accordingly, more expensive equipment. It follows that marginal revenue is higher where the proportion of fixed costs is higher. A business will be profitable if marginal revenue is higher than fixed costs. Thus, the decline in production has the greatest effect on the activities of the most efficient enterprises, which are technically better equipped. Therefore, the management of technically equipped enterprises must necessarily predict the growth rate of profits depending on the growth in sales and the ratio between fixed and variable costs.

7. Calculation of the critical break-even point

It is known that the goal of a firm (enterprise) in the modern economy is to make a profit. It is under this condition that the firm can exist stably and provide a basis for growth. The stable profit of the company manifests itself in the form of a dividend on invested capital, helps to attract new investors and, consequently, increase the equity of the company. Therefore, it becomes clear interest in the problems of profitability of the company. A very important aspect of this issue is the concept of break-even activity of the company.

The break-even operation of an enterprise is its state, which is characterized by a situation where the current income from the sale of products exceeds the total cost of production and sale of products.

The break-even point is the minimum volume of production and sales of products at which costs will be offset by income, and in the production and sale of each subsequent unit of production, the enterprise begins to make a profit. The break-even point can be determined in units of production, in monetary terms, or taking into account the expected profit margin.

In this section, it is necessary to estimate how much products (works, services) should be produced and sold in order to cover the current costs of the enterprise and production did not turn out to be unprofitable, that is, to reach the break-even point.

After analyzing Table 3, we can divide all expenses into conditionally variable and conditionally fixed for the year:

Fixed and variable costs.

Table 8

Calculation items	U measurement	"Meteor" 342E	"Rocket" 340E
Salary with social security contributions
Labor costs during winter layup
Ship depreciation expenses
Contributions to the repair fund
Costs for navigational materials
other expenses

Breakeven point calculation:

Table 9

Indicators	U measurement	"Meteor" 342E	"Rocket" 340E
Fixed expenses per year
Variable expenses per year
Number of passengers carried per year
Shipping cost
Variable costs per passenger
Proportionality factor
Critical volume (cost) of sales of a type of product (works, services)
Critical amount of products (works, services)

1) Variable cost per passenger = Variable cost per year / Number of passengers carried per year

Variable costs per 1 passenger = 89028.1 / 217942.4 = 0.41 rubles

Variable expenses per 1 passenger = 83971.5 / 112486.4 = 0.75 rubles

2) Proportionality coefficient = Variable cost per 1 passenger / Cost of transportation

Proportionality coefficient \u003d 0.41 / 14.5 \u003d 0.0282%

Proportionality coefficient \u003d 0.75 / 29.4 \u003d 0.0255%

3) The critical volume of sales of a type of product = Fixed costs for the year / (1-Proportionality coefficient)

Critical sales volume of a type of product = 2398354.37 / (1-0.0282) = 2472530.3 rubles.

Critical sales volume of a type of product = 2184815.64 / (1-0.0255) = 2252387.3 rubles.

4) Critical quantity of products = Critical sales volume of the type of product / Cost of transportation

Critical production quantity = 2472530.3 / 14.5 = 170519.3 units.

Critical production quantity = 2252387.3 / 29.4 = 76611.8 units.

The dependence of the change in the size of profit on the volume of sales, on fixed and variable costs, as well as the break-even point can be represented on the graph.

"Meteor"

"Rocket"

8. Settlement for a loan received from a bank

Credit - economic relations between the lender and the borrower regarding the transfer of a temporarily free amount of money (value) on the principles of repayment, urgency, payment. Other conditions for providing funds are also possible, such as intended use, security, and others.

Credit plays an important role in self-regulation of the amount of funds required for economic activity. Thanks to the loan, enterprises have at any time the amount of money that is necessary for normal operation.

The role of credit is important for replenishing working capital, the need for which is not stable for each enterprise, it changes depending on the working conditions: market, natural, climatic, political, etc.

The role of credit is great for the reproduction of fixed assets. Using a loan, an enterprise can improve, increase production much faster than without it.

A bank loan is a cash loan issued by a bank for a certain period of time on the terms of repayment and payment of credit interest.

The cumulative calculation of the authorized capital of the enterprise showed that it does not have enough own sources to start production activities and it is necessary to obtain a loan from the bank. Negotiations with the bank showed the possibility of obtaining a loan in the amount of 6.8 million rubles. for a period of 12 months at an annual interest rate of 18%. The loan is granted 2 months before the start of the enterprise, repayment of the loan begins at the end of the second month of the enterprise, no later than the last working day. Loan repayment is made according to the agreed schedule.

Based on these conditions, you should perform the calculation in the table of monthly loan repayment and interest on it. The possibility of loan payments to be commensurate with the presence of net profit. (Payment of interest for the loan is included in the cost of tourist products, in other expenses).

Months of loan use	Loan repayment amount, rub	Amount % for a loan to a bank, rub.	The total amount of the contribution to the bank, rub.	Balance of the outstanding loan, rub.

Effective rate

Ef.st \u003d Total amount% for a bank loan h Total loan amount h 100

Eff.st \u003d 927000 h 6800000 H 100 \u003d 13.63%

Conclusion: As a result of equal payments, the total amount of the contribution does not fluctuate significantly, but is not provided by the enterprise's funds.

In total, the net profit is not enough (loan amount - PE) for the Meteor project - 6,260,024.89 rubles. and for the project "Rocket" - 5949999.38 rubles.

With the chosen variant of the loan repayment schedule, the loan repayment provides, in contrast to 18%, only 13.63% per annum.

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