ПОКАЗНИКИ EBIT ТА EBITDA В АНАЛІЗІ ФІНАНСОВОЇ ЗВІТНОСТІ: МЕТОДИЧНИЙ ПІДХІД

Abstract

The article discusses the essence and significance of EBIT and EBITDA indicators, which are used to assess the effectiveness of potential investments. EBITDA discloses the income that is earned in the current period and therefore is used to assess the profitability of investment and self-financing opportunities. The main advantage of EBIT is the ability to compare financial results of competitors with different capital structures and different tax burdens. EBIT is important because it generates resources that the business uses to pay interest and taxes, pay dividends and repay loans. The Profit and Loss Statement summarizes all the profits and losses of the company for the period (year, half year or quarter). It is the logical sequence of the Profit and Loss Statement that makes it possible to calculate both EBIT and EBITDA, and a number of relative profitability indicators. In domestic practice, the information base for the analysis of indicators is the Statement of Financial Results (Statement of Total Income) form 2, which is regulated by the National Regulation (Standard) of Accounting 1 «General Requirements for Financial Reporting» dated February 28, 2013. This form is built on the example of the Profit and Loss Statement, however, it has differences that take into consideration the Ukrainian realities. Interest payments, Depreciation and Amortization and Income tax are not taken into account in calculating the EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization). Thus, EBIT (Earnings Before Interest and Taxes) is EBITDA after calculation Depreciation and Amortization. The article provides a generally accepted algorithm for calculating EBIT and EBITDA indicators based on domestic financial statements. However, this approach negatively affects the accuracy and reliability of indicators. Undoubtedly, if all the constituent elements of the calculation of these indicators were combined in one table of the Statement of Financial Results, then the calculation of indicators would give a more accurate result for both investors and the management of the enterprise.