How to solve the lack of working capital. Ways to overcome the shortage of working capital. Revise the terms of settlements with counterparties

What measure of filling the insufficiency of the company's own funds is given in the text? Using social science knowledge, indicate any other measure and compare its effectiveness with the measure from the text.

The role of money is primarily manifested in the results of the participation of money in setting the price of a commodity. In conditions market economy this value is formed based on the value of the goods, with a possible deviation of the price from the value. The price of a product is affected by the supply-demand ratio and competition, which makes it possible to reduce the price of the product. However, lower costs may be allowed by producers with lower costs. In contrast, producers with higher cost levels are forced to either achieve cost reductions or reduce or cease production of such goods. The pricing mechanism is aimed, therefore, at increasing the efficiency of production, at reducing the level of costs.
Money is of great importance in the process of money circulation, when it performs the function of a medium of circulation or a means of payment. When paying for acquired values ​​or services rendered, the buyer controls the price level and the quality of goods and services, which forces manufacturers to reduce prices and improve the quality of their products. As a result, this is aimed at increasing the efficiency of production.
Money plays an important role in economic activity enterprises, in the functioning of state bodies, in strengthening the interest of people in the development and improvement of production efficiency, and the economical use of resources.
With the help of money, it is possible to determine not only the total amount of costs (materials, depreciation, electricity, wages, etc.) for the production of each type of product and their total volume, but also the results of production through the price of individual types of products, their entire volume, the amount of profit received.
At the same time, the dependence of the possibility of spending funds on the amount of cash receipts encourages the formation of stocks of materials only in the minimum required size and the implementation of measures to accelerate the receipt of proceeds for products sold. If own funds are insufficient to form increased stocks, the manufacturer could attract a loan for this, but this is associated with additional costs (%), which is undesirable, since such costs are a direct deduction from cash income.
The monetary remuneration of workers and employees, the monetary incomes of entrepreneurs encourage them to intensify their participation in the production processes, increase its volume, in the sale of products, since under such conditions the monetary incomes of citizens and entrepreneurs increase, which, accordingly, can contribute to an increase in their well-being.
To characterize the role of money in foreign economic relations, the following is also important. Each country periodically draws up a trade balance that compares money-denominated exports and imports of goods. As a result of comparing the volume of exports and imports for a certain period, the results of such operations are summed up in the form of active (excess of exports over imports) or passive (excess of imports over exports) trade balances.

(O.I. Lavrushin and others)

Cost price + others

RESULT

(-)

1/2 STEP - OWN NON-CURRENT AND CURRENT ASSETS

The postulate "Life is good." Purchased (or manufactured) goods are sold off the wheels. Demand exceeds supply. The businessman is happy. All stocks are being sold without a balance so far, there are no receivables, trading is only on the fact or in advance, as well as by appointment.

DDS

INCOME (MONEY`)	EXPENSES (MONEY)
Revenues from sales
	Acquisition of non-current assets
RESULT

STEP 1 - DEFICIENCY OF OWN WORKING ASSETS

Postulate: “Greed is good. Greed is right. Greed exalts man. Greed pays off."

The entrepreneur is fed up with his fixed size of his business. He can earn more. To increase the turnover of the enterprise, it is necessary to increase working capital, it is also necessary to update fixed assets. Your own money is no longer enough, moreover, they have already been spent on non-current and current assets and are already in circulation. The fastest and easiest way is to increase current assets at the expense Borrowed capital through Deferred payment supplier. Short-term accounts payable appear on the balance sheet. Now a payment calendar should also appear - to control timely payments to suppliers for goods delivered on credit, so as not to delay payments.

DDS:

INCOME (MONEY`)	EXPENSES (MONEY)
Revenues from sales	Cost price + other expenses
	Acquisition of non-current assets
RESULT

AtEntrepreneur A wide choice of ways to increase the turnover of the enterprise. This can be not only a deferred payment from the supplier, but also bank loans, or loans from third parties, attracting a partner to the business. Risks at this stage are minimal, mistakes that can complicate the work of the enterprise and worsen the result have not yet been made.

STEP 2 - INCREASING COSTS WITH INCREASING TURNOVER

Postulate: "An increase in turnover always leads not only to an increase in revenue and profit, but also to an increase in costs." Those who are not ready to control, plan, minimize and limit them risk huge financial and economic problems. At this stage, budgeting should appear at the enterprise in order to accurately correlate income and expenses with each other and their receipt in time.

For an entrepreneur, with an increase in turnover, distribution costs increase: logistics costs. Appear: marriage, illiquid assets, regrading. The cash flow at the output begins to gradually decrease by the amounts arising from the increase in logistics costs, frozen in marriage, illiquid assets, regrading. The entrepreneur is not yet ready to make unpopular and cardinal decisions on this issue, all this hangs on the balance sheet. The markup exceeds the amount of losses, DDS remains positive.

DDS:

INCOME (MONEY`)	EXPENSES (MONEY)
Revenues from sales	Increased cost + other expenses
	Possible further acquisition of non-current assets
RESULT	(+) revenue exceeds expenses

STEP 3 - ACCUMULATION OF COSTS, THE APPEARANCE OF RECEIVABLES

As the old man K. Marx used to say - "At the heart of any big capital lies a crime."

At the heart of the movement Money lies another imperishable postulate:

"MONEY - PRODUCT - MONEY`". And this always assumes that the MONEY` is always greater than the MONEY per delta (markup). The size of the delta is almost equal to profit, minus costs.

Thus, an ideal deficit-free cash flow is obtained - i.e. cash flow, in which the outgoing cash flow is always greater than the incoming cash flow, and without attracting additional financing.

A business plan is being developed to increase the sales market. To keep regular customers, the entrepreneur begins to give the goods for deferred payment, he has short-term receivables. A cash gap appears between the transfer of goods for sale and the receipt of money after its sale by debtors. To close the resulting gap, the entrepreneur is forced to take out loans. Non-current assets may also continue to increase. DDS is reduced and adjusted for the amount frozen in marriage, illiquid assets, regrading and receivables.

DDS:

INCOME (MONEY`)	EXPENSES
Revenue	Cost price + other expenses
	Acquisition of non-current assets
RESULT	(+) Revenue exceeds expenses

STEP 4 – FORMATION OF A DEFICIENCY OF BORROWED CURRENT FACILITIES

Postulate: “Money, like drugs, can be fast or slow, cheap or expensive.”

The entrepreneur sits on the needle of borrowed funds and enjoys it for the time being. At this stage, with each new cycle at the enterprise, absolutely all indicators increase.

Stocks in the warehouse are increasing, but the quality of the purchase and assortment is decreasing due to the increase in the volume of deliveries.

The entrepreneur begins to give goods on a delay, including to unknown buyers. Due to competition in the market, old buyers have to cut prices. The markup ceases to cover the losses of the entrepreneur from freezing funds in current assets: stocks, marriage, illiquid assets, regrading, receivables. Uncollectible receivables appear due to the lack of analysis and monitoring of the financial condition of debtors.

One way to solve the problem of accounts receivable dramatically - Factoring. Of course, it is an effective solution to deal with cash gaps and receivables, and increases turnover. Some also offer receivables administration. But the effect of factoring will be short-lived. And it will be the same as if someone who is on heroin is planted with another cocaine. The short-term result will be positive, because the addition of fast expensive factoring money to slow cheap credit money will only have an effect in the short term - 1-2 quarters maximum. But it doesn't really solve the problem.

DDS:

INCOME (MONEY`)	EXPENSES
Revenue	Cost price + other expenses
	Acquisition of non-current assets
RESULT	Maybe (+), if the market situation allows you to get a high margin and profitability does not fall, even despite hidden and obvious losses

STEP 5 - DEFICIENCY OF BORROWED WORKING ASSETS

Postulate: "When you sit down on drugs, the main thing is not to rush."

At this stage, the Enterprise is already an experienced drug addict. Sits on the needle of borrowed working capital. However, it works. The machine for the movement of money, goods and generation of losses is running at full speed. If the market conditions change and the trading margin falls, the risk of non-repayment of loans increases to at least 50%. It all depends on who and how will behave in this situation.

Part of the funds is frozen in non-liquid assets, marriage, regrading, part of the funds is frozen in receivables and bad receivables. The company has an increased demand for credit funds to replenish working capital due to their shortage.

In parallel with the increase in credit limits, another long overdue internal process begins - cost reduction. Since it is easiest to cut the one who is nearby, the process begins with a decrease wages staff.

This, in turn, leads to the formation of two parallel opposition movements in the collective. "Movement of staff in nature", which goes to other places, often with the same money. And "Movement to plunder the loot, or expropriation of expropriators in order to compensate for their losses on wages." In this movement, people so famously and with such fiction begin to rob the owner that you are simply amazed at the talent of our people. Moreover, if earlier this was done to increase their average revenues, sometimes not tied to the profits of the enterprise, now this is done for purely ideological reasons.

When the markup received from the sale, as well as borrowed funds, is not enough for timely settlements with suppliers and banks, there is a shortage of borrowed working capital, a liquidity crisis of the enterprise and a default. The curtain!!!

Communication between the client and the bank at this stage is not a spectacle for the faint of heart. They are more in places reminiscent of a conversation between the Huckster and the Drug Addict. The following words and expressions can be used by the borrower: "We'll take it at any interest!" will I be able to get this money?”, and finally - “What exactly do I need to do to get this money faster?”

An attempt to solve all the accumulated problems by obtaining new loans and refinancing old ones does not give any result.

DDS:

INCOME (MONEY`)	EXPENSES
Revenue	Cost price + other expenses
	Acquisition of non-current assets
RESULT	(-) Expenses exceed income

Diagnosis. Urgently required hospitalization and treatment in a drug treatment clinic at the place of residence.

Ways to treat dependence on borrowed working capital.

There is no panacea, but there are solutions that can reduce the intensity of passions.

1. In various banks, the calculation of the credit limit for replenishment of working capital may be limited to 50-70% of the average monthly turnover. This mechanism does not work because there are other banks with other methods, ready to give more or above. You can also negotiate with suppliers, also increase your lending limits. Factoring does not require collateral and current account turnover, but increases the overall debt burden of the company.

Only the enterprise itself can resolve this conflict with the total debt burden by limiting its borrowings. Banks can limit or cut limits after 1 month - after reading the quarterly reports, there are no more mobile and objective methods for monitoring the financial condition of the borrower. If the borrower made erroneous decisions or suffered losses in 1 month of the reporting quarter, the bank will be able to find out and document this only 3 months after the balance sheet is submitted. Agree, 3 months is a long time for the accumulation of mistakes and making new ones.

2. Do not attract short-term loans to solve long-term problems, such as opening new retail space, construction, and the acquisition of fixed assets. The logic of the borrower is simple - the easiest money to get is current, so I invest my turnover in expansion, and cover the deficit with short-term loans.

There are even more exotic options for financing long-term investments. If the borrower is unable to obtain an investment loan, including due to financial indicators, then he takes short-term loans and will refinance them in time.

In my memory, both schemes led to technical defaults and borrower requests for rollover due to the mismatch of the financial cycle, project payback, and loan repayment terms. The second path more obviously ends with a default and a liquidity crisis at the enterprise.

3. The borrower must have his own complete set financial mechanisms to solve internal problems. Budgeting helps to control and plan income and expenses. But this is not enough. There is a need for internal policy documents of direct action on limit value marriage, illiquid assets, regrading with attributing it to the turnover of the enterprise. Accounts receivable should be clearly regulated in terms of terms, types and amounts. The financial condition of debtors must be monitored. When analyzing a borrower, banks often lose sight of the risk of non-return of receivables, which can only be realistically assessed by the borrower, including by involving the bank in the analysis of the debtor's balance sheet.

EPILOGUE.

Poverty and Wealth are like two different sides of the same coin. Poverty or lack of capital is the reason that pushes the entrepreneur to borrow to Wealth, and Wealth through borrowing capital and through the withdrawal of rent from circulation is the reason that leads to his Dependence on loans. Is there a golden mean in this vicious circle? I think no. No choice. Only loans. Unless, of course, there is a tight pocket with oil-gas-rubles or free government property. In extreme cases, there are also Colombian or Afghan investment funds, as well as Vladimir-Central mutual funds.

Business development always involves the reinvestment of earnings in order to increase the scale of the business, its turnover. Even if the goal is the subsequent sale of this business.

The game is always big. And when it comes to a growing market, or an increase in market share, there is nothing to do with a small or medium fixed equity capital. Therefore, the aphorism "you take - strangers and not for long, but you give - yours and forever" sounds very relevant in relation to our topic.

Availability of own working capital successful work enterprises. The indicator is used to assess the real amount of resources of the organization, says whether there is free money. This value is absolute and is expressed in monetary terms. For the calculation, it is most convenient to refer to the balance sheet data.

Business management involves making decisions that will lead to profit in the future. The main source of income generation is the results of conducting the main activity, for the implementation of which resources are needed. One of the key assets of any enterprise is its own working capital. They are classified as current assets and are considered the most liquid, i.e. can be quickly converted into cash.

Definition

Own current assets (SOS) - the value of the excess of current assets over short-term liabilities. In another way, this source of financing is called working capital. These are funds that settle on the balance sheet of the company and are used to finance current activities.

SOS show how much money a company has, the amount of capital that it can freely manage, including to cover short-term obligations.

Sources of SOS formation:

• reserve and other financial funds;
• targeted financing of the organization by the state.

economic sense

SOS play a huge role in determining financial stability organizations. They characterize the degree of solvency of the company. The deficit of own working capital negatively affects the conduct of core business and can lead to loss of solvency, that is, to bankruptcy.

Calculation of own working capital - the main step economic analysis enterprises.

Calculation formula

Own working capital is found in several ways. This is always an absolute value and is expressed only in monetary terms, in contrast to various coefficients derived from it.

1 formula:

SOS \u003d AO - O K, where:

• JSC - current assets;
• About To - short-term obligations.

Current assets are revolving funds and circulation funds. These include raw materials, materials, fuel, finished products, receivables. The indicator is expressed in money.

According to the balance, the SOS value is found as follows:

SOS = p. 1200 - p. 1500, where:

• Page 1200 - line value 1200 (total for section II);
• Page 1500 - line value 1500 (total for section IV).

2 formula:

SOS \u003d (K C + O D) - A B, where:

• K C - equity;
• О D - long-term liabilities;
• A B - non-current assets.

The balance sheet looks like this:

SOS \u003d p. 1300 + p. 1400- p. 1100, where:

• Page 1300 - line value 1300 (total capital);
• Page 1530 - line value 1400 (long-term liabilities);
• Page 1100 - value of line 1100 (value of non-current assets).

For all formulas, data for calculations should be taken for a certain period. If there are numbers at the beginning and end of the period, you can find the average value in this way (for example, Kc - equity):

Δ K C \u003d (K C LF + K C KP) / 2, where:

• K C LF - the amount of equity at the beginning of the period;
• K C KP - the amount of equity at the end of the period.

Calculation example

For convenience of calculation, we take the data of the balance sheet. It is best to use the first formula with two variables. An example calculation can be downloaded in excel.

Table 1. Calculation example, thousand rubles

Month and year	Line 1200	Line 1500
January 2017
February 2017
April 2017
August 2017
September 2017
October 2017
November 2017
December 2017
Total for the year
Average per month

Thus, in all months of 2017, except for one, the enterprise has an excess of its own working capital. The deficit was noted only in March and amounted to minus 230 thousand rubles. In general, for the remaining months, the value of own working capital was relatively stable. On average for the year, the amount of SOS was equal to 327.1 thousand rubles.

Value standard

The cost of working capital can take both positive and negative values. A SOS value above zero is considered normal. More specific figures depend on the scope of the company, its size and business features. In some cases, a small excess will be sufficient, in others, own working capital should be above a certain bar.

The negative value of own working capital (deficiency) negatively affects the stable position of the company as a whole. In most cases, this leads to solvency problems. However, in some areas, the value of working capital may be below zero, and this will be a normal situation.

A negative SOS value can be afforded by companies with very fast operating cycles. A case in point is fast food chains, which are able to turn stocks into cash in record time.

Important! If there is a surplus, it is advisable to keep it in settlement accounts, and not keep it in stocks or pay additional expenses at the expense of working capital. In the future, this money can be used to finance higher goals (for example, the expansion of production).

SOS analysis

By itself, the indicator of own working capital does not carry any information. It must be analyzed in parallel with reserves as the least liquid assets and other sources of financing (the amount of loans, etc.). Here the ratio and its change in dynamics are important.

The goals of SOS analysis for the head of the company:

• identify the cost of fixed assets of the organization;
• determine the amount of surplus or deficit of SOS;
• identify a possible threat to solvency;
• establish how the situation has changed in dynamics.

To understand whether SOS is enough for an enterprise, you can use the coefficient of provision with own working capital. This indicator is used to determine the insolvency (bankruptcy) of the enterprise.

findings

Availability of own working capital - required condition sustainable financial and economic position of the enterprise. From this source, financing of the material and technical base, replenishment of stocks, acquisition of patents and other resources is made. In the absence of this source, borrowed assets are used: short-term and long-term loans, loans, loans. For the successful conduct of business, it is important that the SOS value is positive, that is, a surplus is formed, however, companies with high speed turnover can afford to work successfully with a negative value of SOS (fast food, some types of services).

Working capital and working capital - can these concepts be considered identical? How do they affect the efficiency of the enterprise? If you didn’t find the answers to these questions, this article will help you understand the nuances that will make your business successful!

Working capital and their essence

Working capital of an enterprise is a set of circulation funds and working capital. production assets. This allows them to serve not only the sphere of circulation, but also the sphere of production. This indicator may refer to the cost category, but it cannot be said that these funds act as a material value, because production finished products impossible for them. But since they are value in monetary form, during their circulation they are able to take the form of work in progress, inventories, and even finished products. It should be understood the difference between working capital and the material assets of the enterprise - they are not consumed, not spent, not spent, but are advanced. I.e use of working capital assumes that after the end of one cycle of the circuit, they immediately enter the next circle.

The difference between working capital and working capital

Funds, working capital and circulation funds are indicators that exist in constant relationship. However, it should be noted that the task of working capital is reduced to a constant presence at all stages of the company's work, and working capital is present only at the stage of production, where they are completely consumed. That is, we can say that funds participate in the creation of new value only indirectly, while working capital directly affects its formation.

Classification of current assets

All funds can be classified within the following criteria:

1. By place and role in the production process current assets of the enterprise may be located:

In the field of circulation;
- in the field of production.

If we consider the structure and composition of working capital, then in this case we can understand how efficiently and rationally to place them in the sphere of circulation or production. If it is possible to achieve an optimal ratio of working capital in these two areas, then in this case we can say that the funds are used efficiently, and this, in turn, will have a positive effect on the business.

2. According to the degree of planning:

Normalized;
- non-standardized.

In domestic practice, such a concept as the rationing of working capital is known, that is, the process of establishing standards for their elements and determining the planned norms of stocks. As for non-standardized working capital, its size is usually determined promptly.

3. According to the sources of rationing:

Own;
- borrowed;
- involved.

Modern economic conditions in every possible way contribute to the fact that the enterprise could freely dispose of its own working capital. They are at the disposal of the company, and its management can lease these funds, transfer them to other organizations, citizens, enterprises, institutions on the basis of permanent or temporary use.

Shortage of working capital and consequences for the enterprise

Today, the preservation of working capital of the enterprise is an urgent and important task for the head. How to determine their excess or deficiency? Working capital and their quantity illustrates the usual financial planning. To do this, it is important to make up the amount of the actual (expected) availability of own working capital. If a planned requirement more than the amount of the company's own working capital, which means that in this case we can say that working capital for effective work not enough. It is possible to fill their deficit just by attracting borrowed funds.

Sometimes the ratio is reversed, that is, the funds of the enterprise are in excess. This surplus can be used as a source to finance the increase in working capital.

Why can there be a lack of own funds? Sometimes the reasons are completely independent of the work of the enterprise. But, at the same time, the company itself may suffer excessive losses or carry out an illegal diversion of working capital, for example, in order to finance capital construction. Of course, economic conditions also play an important role in shaping the state of working capital. Thus, an increase in prices for inventory items purchased by enterprises leads to a shortage of their working capital on a large scale. In this case, a bank loan can become a source of replenishment, but in conditions of inflation it is provided only at high interest rates.

If we are already talking about how government policy affects the amount of working capital, we note that it can stimulate the production and financial activities of the company or hinder it. In the first case, it can be rational use working capital. And not the last role in this process is played by the tax policy of the country. For example, attributing some tax payments to the cost of services, works or goods, advance payments of income tax or the specifics of paying VAT to the state budget cause a diversion of working capital that goes to non-production costs. In order to make up for the lack of own funds, enterprises begin to look for sources of their receipt: to take loans, violate financial discipline, etc. We can say that the lack of working capital in this case worsens the financial position of the company and reduces the efficiency of its work. That is why the organization of the company's working capital necessarily includes such an item as systematic control over their safety and effective use. This is achieved by conducting audits, checking accounting and operational reporting, working with statistical data, etc.

Ways of formation of working capital of the enterprise

The funds should ensure the implementation of one important task - the movement at all stages of the circuit, due to which the needs of production in material and financial resources will be satisfied, the completeness of calculations and their timeliness will be ensured, which, in turn, will increase the use of working capital.

We have already talked about the important role of working capital in the work of the enterprise. This is especially true for firms operating on the basis of commercial calculation. In this case, they must have operational and property independence in order to be responsible for the decisions made and to operate profitably. The funds themselves are formed immediately after the organization of the company itself. The basis for their formation is the investment funds coming from the founders. Replenishment of own working capital throughout the entire period of operation of the company occurs with the help of profit and stable liabilities. The latter do not belong to the organization, but are constantly in its circulation. They are the source of the formation of working capital, or rather, their minimum balance. Sustainable liabilities can be represented by:

Reserve to cover future expenses;
- payroll arrears to employees;
- prepayment for goods or services;
- carry-over balances of the consumption fund;
- minimum carry-over debt on off-budget funds and the budget.

You can try to reduce the company's need for working capital, if there is a lack of them. At the same time, this will stimulate their more efficient use. To do this, simply attract borrowed capital in the form of short-term bank loans to meet the company's temporary need for working capital.

Attracting loans for the formation of working capital can be carried out in the following areas:

Mediation and implementation of settlements on payment turnover;
- lending of materials, seasonal stocks of raw materials and expenses, the reason for which lies in the seasonal nature of production;
- temporary replenishment of the lack of working capital of the enterprise.

What do you need to know about working capital?

As you can see, the development of an enterprise is impossible without the use of working capital. That is why, their formation and use must be carried out only on the basis of a detailed analysis. Do not forget about this issue, paying attention only marketing research or market research - it is important to study the processes of effective use of the internal reserves of the company. Together, this will certainly lead to an increase in profits and an increase in the position of the enterprise in the market!

the difficult financial condition of the enterprise, firm, which consists in the lack of money to acquire the necessary working capital, settlements with suppliers, payment of wages.

• - the ratio of total liabilities and long-term borrowings of the company to the share capital ...

  Glossary of business terms

• - the ratio of the profit received by the enterprise for the period to the average level of equity. In English: Return on net assets Synonyms: Return on equity See also: ...

  Financial vocabulary

• - the share of funds of the firm itself, the enterprise in fixed and working capital; this share is determined by the share of the authorized capital in fixed and current assets, the other part of these funds is formed at the expense of borrowed funds ...

  Big Economic Dictionary

• - the ratio of the company's own working capital to the total amount of own funds ...

  Glossary of business terms

• - the ratio of the company's own working capital to the total amount of own funds.Sm. See also: Capital structure ratios  ...

  Financial vocabulary

• - is formed by associations, enterprises, the size of working capital of which exceeds the constant minimum production needs for resources ...

  Big Economic Dictionary

• - the difficult financial condition of the enterprise, firm, which consists in the lack of money to acquire the necessary working capital, settlements with suppliers, payment of wages ...

  Big Economic Dictionary

• - withdrawal by a higher organization of surplus of its own working capital from some associations, enterprises for transferring it to other economic organizations of its system in a command economy ...

  Big Economic Dictionary

• - an increase in normalized working capital compared to the previous period, due, as a rule, to an increase in the production program ...

  Big Economic Dictionary

• - the ratio of total liabilities and long-term borrowings of the company to equity capital; an increase in debt tends to exacerbate the volatility of a company's earnings per share...

  Big Economic Dictionary

• - payments from the funds at the disposal of the enterprise ...

  Big accounting dictionary

• - "...2.1...

  Official terminology

• - "...8.1...

  Official terminology

• - the difficult financial condition of the enterprise, which consists in the lack of money for the acquisition of the necessary working capital, settlements with suppliers, payment of wages ...

  Encyclopedic Dictionary of Economics and Law

• - Obsolete. Personally. - The late father from his own hands would have killed him, a worthless one ... Anna Pavlovna, with such terrible speeches, was only furtively baptized ...

  Phraseological dictionary of the Russian literary language

• - adverb, number of synonyms: 1 on foot ...

  Synonym dictionary

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Article 15.14. Misappropriation of budgetary funds and funds of state non-budgetary funds

From the book Criminal Code of Ukraine in jokes the author Kivalov S V

Article 306

LECTURE No. 12. Kidney diseases in children. Acute renal failure (ARF). Chronic renal failure (CRF).

From the book Childhood Illnesses: Lecture Notes the author Gavrilova N V

LECTURE No. 12. Kidney diseases in children. Acute renal failure (ARF). Chronic renal failure (CRF). 1. Renal failure The main functions of the kidneys (excretion of metabolic products, maintaining a constant water and electrolyte composition and

Coronary insufficiency, circulatory failure

From the book Healing Apple Cider Vinegar author Dannikov Nikolai Illarionovich

Coronary insufficiency, circulatory failure - In all forms of ailments associated with damage to the arteries and heart disease, alfalfa juice is useful. For this purpose, only fresh leaves are used. Fresh alfalfa juice, however, is too potent