Last modified: 2013-07-31
The article assesses the impact of subsidies on economy of agricultural enterprises with selected indicators of financial analysis. The newly created indicator of indebtedness without subsidies is not significantly different from the original debt indicator including subsidies, assuming bank loans-subsidies substitution. The differences between debt indicators are gradually reduced because of the decrease in the volume of financed subsidies. With respect to the return on assets, the return on assets indicators including subsidies on average exceeded the return on assets indicators without subsidies by a mere 0.995 percentage. The rate of annual inflation for the analyzed years for both types of return on assets indicators was overcome (except the return on assets indicator without subsidies in 2004). Solidity indicators have reached the recommended limit of 1:1 and continued to increase. a high value of available liquidity indicator indicates inefficiently used funds provided for payment of all claims. Growing immediate liquidity ratios and slightly varying total value of trade payables means increasing the amount of cash that at the same time relatively, the turnover of payables and receivables appear to be unused.