ECONOMIC POSITION OF AGRICULTURAL ENTERPRISES IN VOJVODINA (2001-2009)
Keywords:
agriculture, statement analysis, result, financial position.Abstract
The paper analyses the main indicators of financial position of agricultural enterprises in Vojvodina for the period 2001-2009. Due to the length of the observed period, considerable devaluation of RSD (60.6%) and high inflation rate (125.7%), all the values are expressed in euros.
The growing level of business activities were not accompanied by corresponding financial effects. Agricultural enterprises made losses in six out of nine years of the observed period, thus reducing own assets for around 22.3%. Accumulated losses are the main cause of financial structure deterioration of the enterprises. Net working capital was even negative in the majority of years, indicating serious problems with liquidity. Debts were constantly increasing reaching the level of 58.1%, which is rather high for agricultural enterprises. Certain signs of recovery in 2006 and 2007 were reversed again, partly affected by the world economic crisis.
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References
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