Federal Law № 86-FZ dated 18.04.2018 amended Article 5 of the Federal Law «On trade secret», eliminating the legal divergence of concepts «salary» and «social payments».

Item 6 of the Article 5 of the Federal Law «On trade secret» stated that the concept of trade secret does not apply to information «on employers’ arrears in salaries and other social payments». It means that the salary was referred to social payments that contradicts the norms of the Labor Code of the RF.

The Article 129 of the Labor Code of the RF defines salary as remuneration for labor in accordance with the qualification of an employee, the complexity, quantity, quality and conditions of the work performed. The same concept includes various compensations and bonuses. Social payments, in their turn, are not related to salary and are not included in the payroll budget.

This Federal Law excluded the word «other» for dissolution of this inconsistency in item 6 of the Article 5 of the Federal Law «On trade secret». Thus, trade secret cannot apply to information about employers’ arrears to employees in salaries and social payments.

For reference
According to the Federal State Statistics Service, arrears in salaries countrywide in the whole were overdue to almost 40 000 workers as of January 1, 2018. In 2018, compared to the previous year, there has been a reduction in the number of employees, to whom there are arrears in salaries (Table 1).

Information agency Credinform prepared a ranking of the largest Russian bakery and confection producers. Companies with the highest volume of revenue (TOP-10) were selected for this ranking according to the data from the Statistical Register for the latest available periods (2016 and 2015). The enterprises were ranked by assets turnover ratio (Table 1). The analysis was based on data from the Information and Analytical system Globas.

Assets turnover is sales revenue to the average total assets for the period. This indicator is included in the group of activity ratios and shows the efficiency of all available resources despite of their source. The ratio indicates the number of profitable full cycles of production and turnover per year.

Taking into account the actual situation both in economy in general and in the sector, the experts of the Information agency Credinform have developed and implemented in the Information and Analytical system Globas the calculation of practical values of financial ratios, which can be recognized as normal for a particular industry. The practical value of assets turnover ratio for bakery and confection producers in 2016 is from 1,79 and from 1,38 times respectively.

For the most complete and objective view of the financial condition of the enterprise it is necessary to pay attention to the complex indicators and financial ratios of the company.

Average value of assets turnover ratio for TOP-10 is above the industry average. Compared to the previous period, two companies in TOP-10 have increased revenue and net profit figures (marked with green in columns 2 — 5 of Table 1). The rest of companies decreased revenue or net profit, or have losses (filled with red in columns 2 — 5 of Table 1).

Picture 1. Assets turnover and revenue of the largest Russian bakery and confection producers (TOP-10)

The average industry indicators of assets turnover ratio over the past 10 years have a trend to decrease (Picture 2).

Picture 2. Change in average industry values of assets turnover ratio of the largest Russian bakery and confection producers in 2007 — 2016