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1
GAVRILENKO, Oleksiy. "MONITORING AND CONTROL OF FINANCIAL STABILITY AND ECONOMIC SECURITY OF AGRICULTURAL ENTERPRISES." Ukrainian Journal of Applied Economics, no. 2 (2019): 24–31. http://dx.doi.org/10.36887/2415-8453-2019-2-3.
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Abstract Introduction. Food businesses are constantly experiencing financial difficulties due to untimely activity results analysis. The financial stability support program is a key objective of the agricultural enterprise. It is possible to ensure its effective functioning through the introduction of an appropriate internal control system. In today's volatile economic environment, only businesses with the proper level of competitiveness and financial sustainability can function productively. The purpose of the article is to substantiate the need and to find ways to implement monitoring and control of financial stability and economic security in the management of agricultural enterprises. Results. The purpose and the most effective means of ensuring Ukraine's food policy in the current economic conditions are determined. The stages of economic monitoring (preparatory stage, research and analysis of the obtained results) are presented. The economic monitoring scheme of financial and economic situation at the enterprise is presented. Possible types of financial condition of agrarian enterprise are described. The interdependence of the financial stability type and the concept of competitive advantages development in food industry enterprises at different stages of their life cycle are presented. The comparative assessment of the existing ways and methods of monitoring financial stability have been shown in the context of conducting an internal analysis of the agricultural enterprises financial stability. The characteristic of financial stability monitoring of agrarian enterprise production on the basis of matrix method is given. The results of the financial sustainability assessment of the enterprise «Kulindorovsky» are presented based on the matrix scheme. The conformity of the integral indicator of the enterprises financial stability type of the food industry in the Odessa region is estimated. The realization directions of the algorithm of internal systematic analysis implementation of agricultural enterprises financial stability are indicated. Conclusions. Analysis of agrarian enterprise financial stability it is advisable to carry out using the matrix algorithm. The proposed methodology will allow to anticipate possible threats to the financial activity of the agricultural enterprise. The results obtained will help to make management decisions aimed at stable activity of the enterprise. Keywords: monitoring, control, analysis, economic security, risk, agricultural enterprise, financial security of agricultural enterprises.
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LOPATOVSKYI, Victor, and Rostyslav KRASUTSKYI. "PECULIARITIES OF FORMATION AND USE OF INFORMATION ABOUT FINANCIAL RESULTS OF ACTIVITY OF BUSINESS ENTITY AS A RESULT OF EFFECTIVE PERFORMANCE." Herald of Khmelnytskyi National University 302, no. 1 (January 2022): 142–47. http://dx.doi.org/10.31891/2307-5740-2022-302-1-24.
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Research on financial performance and income taxation in times of economic downturn and crisis is always gaining attention and popularity, because the amount of profit depends on the viability of the enterprise, the level of wages and, accordingly, turnover and skills, and as a result of state budget revenues. different levels. Income tax, in turn, is a regulator of the distribution between the state and enterprises of all forms of ownership of profits, as the main source of innovation and investment activities. The current conditions and the economic situation in Ukraine and in the world as a whole pose new challenges for enterprises to optimize their activities, efficiency in the face of growing competition, the impact of aggressive internal and external factors. No business activity has development prospects without a positive financial result, which lacks the dynamics to grow. Profit has always been the main indicator of business efficiency. That is why the formation and definition of profit has caused and continues to cause so much debate in economics, as evidenced by the great variety of theories on its definition and sources of formation. This area of research attracts a lot of attention during the crisis, as profit is the most desirable source of resource recovery and enterprise development. Therefore, maintaining profitability at a sufficient level is a challenge for managers at all levels and divisions of the enterprise, especially given today’s oversaturated and over-competitive environment, where every enterprise is fighting for survival. The authors investigate the peculiarities of the formation and use of information about financial results as an effective indicator of enterprise activity, which is formed according to the system of its accounting and reporting and used by management to make management decisions on profit management. Financial results are a measure of the efficiency of any commercial enterprise, making a profit – the main purpose of doing business. Domestic and foreign scientists have prepared many scientific papers to highlight the peculiarities of the formation and use of information about financial results, but the main problem is that there is no one-size-fits-all solution to optimize financial results and increase profitability. The current economic turmoil shows new weaknesses in the activities of economic entities and policies to increase their profitability, and therefore research and writing scientific papers and practical recommendations on this topic will always be relevant.
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Наmкаlо, О. В. "Non-Financial Reporting as a Tool for Measuring the Social Activity of Domestic Enterprises." Statistics of Ukraine, no. 4(79) (December 20, 2017): 79–86. http://dx.doi.org/10.31767/su.4(79).2017.04.10.
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The research is devoted to the peculiarities of the formation of non-financial reporting as one of the tools for measuring the social activity of enterprises.
The financial stability and successful business of enterprises is conditional on non-financial indicators and business orientation, ranks, reputation, openness and social responsibility. Non-financial reporting or a CSR report is an effective tool for measuring the performance of enterprises, a basis for the development and implementation of various strategic projects and programs. Information from non-financial reporting allows for assessing the effectiveness of management at an enterprise by economic, environmental and social component, their interdependence and contribution in achieving the main goal, and for subsequent goal setting and more effectively management of change. It means that the report in question serves as the main platform for communicating the results and impacts (positive or negative) of sustainable development. It shows the real effort of an enterprise in creating social, environmental and economic benefits.
However, domestic enterprises do not have sufficient experience in the field of socially responsible business and need to create their own internal concept of corporate social responsibility considering international trends, which determines the relevance of this study
Various international non-financial reporting standards are analyzed; it is demonstrated that the most popular mechanism for regulating non-financial reporting is the Global Reporting Initiative (GRI), which defines a set of indicators measuring the social, ecological and economic component of the economic activity of enterprises The mechanism for making up a non-financial report by phase of the enterprise development is built. The use of the proposed mechanism in making up non-financial reporting will enable to set up an effective link between the enterprise and the stakeholders, and to determine the strategic directions of the enterprise's activities in the context of its development.
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Bunda, Olga, and Mariia Gordiychuk. "Analytical procedures of activity of the enterprises of metallurgical production." Problems of Innovation and Investment Development, no. 17 (December 4, 2018): 128–36. http://dx.doi.org/10.33813/2224-1213.17.2018.14.
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The article presents the results of the study of the place of analytical procedures in conducting a general analysis of the financial and economic indicators of the enterprises, conducted an analysis of the level of the current state of metallurgical enterprises on the example of the enterprise of this type of economic activity. The algorithm of decision support system in the analysis of enterprise activity was developed to increase the reliability of the indicators of management and financial reporting.
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Zavitii, Olha. "THE ROLE OF FINANCIAL DIAGNOSTICS IN THE ENTERPRISE ACTIVITY." Institute of accounting, control and analysis in the globalization circumstances, no. 1-2 (June 4, 2021): 33–41. http://dx.doi.org/10.35774/ibo2021.01-02.033.
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Introduction. One of the most important conditions for ensuring the proper functioning and development of the entire sphere of entrepreneurship is the economic security of enterprises, and an important part of this process is the diagnosis of the financial condition of economic entities. Diagnosis is the main tool that allows you to objectively assess the internal and external parameters of the enterprise, to investigate economic processes in their relationship. The use of an effective mechanism of financial activity allows at an early stage to detect violations of proportions in the phases of the cycle of capital circulation in the enterprise and to establish the reasons that caused them. Methods. During the preparation of the article, a systematic approach to the study was used, which allowed to assess the state of implementation of financial diagnostics in the domestic business practice; the method of theoretical comparison for improvement of legislative regulation and directions of procedures of financial activity; the method of expert assessments - in the development of organizational provisions for the implementation of the mechanism of financial diagnostics in Ukraine. Results. The article identifies the importance of diagnosing the financial condition of the enterprise, considers the nature and necessity of a systematic analysis of the financial condition of the enterprise. The essence of the concept "diagnostics", "financial condition" is considered in the proposed article. Peculiarities of effective management of the financial condition of the enterprise in the conditions of market economy of Ukraine and the role of economic diagnostics in the activity of the enterprise are determined. Discussion. Further research on the development of financial activities will be to substantiate the implementation of modern areas of assessment of the financial condition of economic entities, especially within the introduction of digital technologies. Keywords: enterprise, financial condition, financial activity, management, diagnostics, estimation, competitiveness, liquidity, solvency.
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BORTNIKOVA, Mariana, and Yuliia CHYRKOVA. "Formation of the enterprise financial resources management conceptual model in the process of foreign economic activity implementation." Economics. Finances. Law, no. 10/1 (October 29, 2021): 9–12. http://dx.doi.org/10.37634/efp.2021.10(1).2.
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Introduction. While carrying out production, economic and foreign economic activities, domestic enterprises face important issues of ensuring their financial stability and effective management of the financial resources’ formation, distribution and use process. The purpose of the paper is to build a conceptual model for managing the financial resources of an enterprise in the implementation of foreign economic activity, which will allow for high-quality diagnostics of financial resources at the stages of their formation, distribution and use. Results. The influence of globalization processes on the functioning of domestic business entities provides for a periodic renewal of the mechanism and model for financial resources management. The main constituent elements of the model for managing the enterprise financial resources are characterized, namely: the aim and main objectives; subjects of financial resources management; technology of financial resources strategic management at the enterprise; factors of influence on the management processes and the system of ensuring the financial resources management of the enterprise in the implementation of foreign economic activity. The technology of the company's financial resources strategic management has been developed. A conceptual model for managing the financial resources of an enterprise in the implementation of foreign economic activity has been formed, which considers organizational, functional and information support. Conclusion. The application of the financial resource management conceptual model in the practical activities of enterprises will ensure the achievement of the goals and objectives of the enterprise, contribute to the improvement of its financial condition and the movement of financial flows, as well as allow alternative management decision-making on the formation and implementation of the strategy for managing the financial resources of the enterprise in the conditions of new foreign markets development.
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Havrylenko, Mykola, Vira Shiyko, Liliana Horal, Inesa Khvostina, and Natalia Yashcheritsyna. "Economic and mathematical modeling of industrial enterprise business model financial efficiency estimation." E3S Web of Conferences 166 (2020): 13025. http://dx.doi.org/10.1051/e3sconf/202016613025.
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The article proposes two methods for evaluating the financial efficiency of a business model of industrial enterprises. In order to evaluate the financial efficiency of the business model of an industrial enterprise, a system of single indicators for assessing the financial condition of the enterprise by such components as financial stability, liquidity and solvency, business activity and profitability was formed. Fishburne’s rule weights the major components of an integral measure of an enterprise’s business model financial performance. In addition, an integral measure of the financial performance of the business model is modeled using the fuzzy set method and taxonomic analysis, which will help to evaluate the financial performance level of the business model more objectively. The comparative analysis of the obtained results by different methods of calculation of integral indicators is carried out.
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LIUBOKHYNETS, Larysa, Tetyana KATKOVA, and Yurii KRAVCHYK. "ANALYSIS OF FINANCIAL AND ECONOMIC PREREQUISITES FOR ENSURING ECONOMIC SECURITY OF INDUSTRIAL ENTERPRISE." Herald of Khmelnytskyi National University. Economic sciences 304, no. 2(1) (March 18, 2022): 167–73. http://dx.doi.org/10.31891/2307-5740-2022-304-2(1)-23.
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The purpose of the study is to introduce the author’s methodological approach to analyze the prerequisites for economic security of industrial enterprises, the formation on this basis of conclusions for priority areas of policy to strengthen it. The urgency of the problem of development of methods of analysis, monitoring and diagnostics of economic security of industrial enterprises is revealed. It is argued that the observation of the financial and economic condition of the enterprise allows to identify the prerequisites for the economic security of the industrial enterprise. The practical significance of the study is that the indicators of financial and economic condition of the industrial enterprise are revealed; the results of the analysis of the general economic and investment activity of the industrial enterprise are given; indicators of profitability and capital turnover of an industrial enterprise are analyzed; the characteristic of indicators of solvency and structure of assets of the industrial enterprise is resulted; the capital structure is revealed and the potential of the industrial enterprise to compensate for its possible losses is assessed. The obtained results are characterized from the standpoint of prerequisites for ensuring the economic security of an industrial enterprise. The comparative characteristics of financial and economic indicators of the enterprise and average industry values are given. Problematic aspects of economic security of an industrial enterprise have been identified. The scientific novelty of the study is that the methodological approach to the analysis of economic security of an industrial enterprise has been further developed, namely the method of analyzing the financial and economic prerequisites for ensuring the economic security of an industrial enterprise has been developed. Research methods – structural-logical and semantic analysis, statistical analysis, quantitative and qualitative comparison.
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Botvina, Natalia. "PLANNING AND FINANCIAL MANAGEMENT ON ENTERPRISES OF MOTOR INDUSTRY." Economic Analysis, no. 27(1) (2017): 101–6. http://dx.doi.org/10.35774/econa2017.01.101.
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Financial aspect of planning is analysed as the main part system of the general planning of the activity of an enterprise. The environmental instability and the uncertainty of economic conditions influence the activity of the enterprise because the effectiveness of the activity of the company largely depends on the state of financial planning at the enterprise. The higher level of uncertainty the more important becomes planning. Its correctness and accuracy of the forecast influence the success or failure of business activity. Financial planning as a key part of the whole planning process makes it possible to implement the strategic plans of the company through the development of specific action plans for the planning period. It allows calculating the efficiency of available resources, economic and financial results. The article analyses the current system of financial planning and management in domestic enterprises automotive industry on the example of group of enterprises of Corporation "UkrAVTO". It is proposed a procedure for the preparation and adoption of the budget. The principles and criteria for the development and use of financial planning by the companies are determined. The financial planning, as a key link of all process of planning, does it possible to incarnate strategic intentions of enterprise through development of concrete plans of operating in a plan period. Their tasks are as the following ones: to expect efficiency of present resources, to calculate the eventual economic and financial results. The systems of planning and financial management of enterprises will allow realizing the mechanism of management charges. It will promote manageability of enterprises of automobile industry. It will also create pre-conditions for charges control ensuring on the enterprise, optimize the flows of payment means, and predict the financial results and financial and economic state of corporation.
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Novichkova, Olga, Olga Tagirova, Alexey Nosov, and Marina Fedotova. "Forecasting the financial results of the agribusiness company." E3S Web of Conferences 222 (2020): 06016. http://dx.doi.org/10.1051/e3sconf/202022206016.
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Competent management of the company’s activities is largely determined by the ability to manage financial results, analyze the features of their formation, which ensures the effective functioning of the organization. Timely analysis allows to study development trends, deeply and systematically examine the factors of changes in activity results, justify plans and management decisions, monitor their implementation, identify reserves for improving the efficiency of economic activity, evaluate the results of the enterprise, and develop an economic strategy for its development. For commercial enterprises, the main criterion for performance assessment is the financial result. At the same time, not only the goals and objectives of the company are multiple, but also the methods used by specialists in planning of the financial results formation. The quality of management of financial results largely determines the effective operation of the company, the stable pace of its work and competitiveness in modern economic conditions.
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Viknianska, A., D. Kharynovych-Yavorska, M. Sahaidak, A. Zhavoronok, and V. Filippov. "Methodological approach to economic analysis and control of enterprises under conditions of economic systems transformation." Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, no. 4 (2021): 150–57. http://dx.doi.org/10.33271/nvngu/2021-4/150.
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Purpose. To substantiate the methodological approach to the development of research components of the integrated system of complex economic analysis and internal control of the enterprise. Methodology. The main methods of this research are statistical methods, the latter being used for processing of statistic data; methods of formalization and mathematical simulation used for development of conceptual analysis base to control the enterprises activity. Findings. A complex model of diagnostics of enterprises activity in a competitive environment is proposed, which is based on the methodology of complex economic analysis with the use of financial and non-financial indicators. To assess the competitive advantages of the enterprise, we offer an algorithm to calculate an integrated indicator of the level of its competitiveness using a balanced scoring system. Originality. In the course of research, the scientific and methodological approach to a complex evaluation of influence of a research component on development of competitive strategy of the enterprise was developed. Unlike the existing ones, this approach involves: - development of an integrated system of complex economic analysis and internal control over business processes of enterprises with the use of modern information technologies, which allows assessing their competitiveness, forming a development strategy; - methodical procedures of internal control of the enterprise with the use of financial and operational budgets and management reports based on a balanced scoring system, using CVP-analysis, which allows forming flexible budgets. Practical value. The results of the study can be used by practitioners, scientists, government officials to monitor the development of the corporate architecture, to study enterprise development processes.
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Levchaev, P. A., and B. Khezazna. "Specifics of strategic financial planning of enterprise activity in the digital economy." Finance and Credit 26, no. 3 (March 30, 2020): 499–507. http://dx.doi.org/10.24891/fc.26.3.499.
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Subject. The article investigates the specifics of strategic financial planning of enterprise operations in conditions of digitalization processes, as well as the introduction of advanced technologies in all spheres of social and economic life. It determines unique opportunities for company development in the international market. Objectives. The study aims at reviewing a set of economic relations and problems emerging in the process of strategic financial planning of enterprise performance in the digital economy, and developing recommendations to improve the financial strategic planning of economic entities. Methods. We employ methods of economic analysis and synthesis, and comparison. The paper rests on works by academic economists on the problems of finance, financial management, and planning. Results. We investigated the most important features and problems of strategic financial planning of enterprises in the digital economy, and how the digital era increases the level of competition of participants for economic dominance. Identified features of financial strategic planning of the corporation's activities in the digital economy are recommended for use in the corporate management system of an industrial enterprise. Conclusions. Improving the strategic management process is a stage of transformations in the digital economy. Enterprises create new priorities through using management models. At the same time, the role of fixed assets is reduced, and intangible assets and information accelerate the business. The effectiveness of company operations is often determined by the availability of accurate and timely information that reflects the necessary aspects of financial and economic practice.
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Pakhucha, Ellina, Iryna Sievidova, Iryna Siadrysta, Leonid Mohilevsky, Tamila Oliynik, and Olga Bogdanovych. "Financial Risks in the Conditions of Unstable Market Economy." European Journal of Sustainable Development 10, no. 1 (February 1, 2021): 432. http://dx.doi.org/10.14207/ejsd.2021.v10n1p432.
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The necessity and significance of financial risks, which are a constant factor in the activity of any enterprise, are substantiated. It is established that for a broader understanding of the essence of financial risk it is necessary to consider it as a cumulative risk of the enterprise. The growing impact of financial risks on the results of financial and economic activities is associated with the uncertain economic situation, the instability of financial market conditions, the rapid introduction of new financial technologies and financial instruments, expanding the scope of financial relations of the enterprise. A system of financial ratios has been formed to quantify the risk of enterprises of different sizes, namely for large, medium and small enterprises, which most accurately reflect the current financial situation. Has been proven that the growing pressure of the crisis and insecurity on the part of the state will lead to the transition from the crisis in which enterprises are today, to a state of economic bankruptcy. It is established that the first place among the blocks of financial coefficients of risk assessment of enterprises is occupied by the block of business activity, then the block of profitability indicators, the block of liquidity indicators, the final block of capital structure. For each of the defined blocks the directions of increase, or optimization that will provide financial stability of the enterprise are presented.
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Vasilyeva, Т., S. Lyeonov, N. Antoniuk, and O. Tverezovska. "ENTERPRISE`S ACTIVITIES MONITORING IN STRATEGIC MANAGEMENT." Vìsnik Sumsʹkogo deržavnogo unìversitetu, no. 2 (2019): 127–31. http://dx.doi.org/10.21272/1817-9215.2019.2-17.
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The article deals with the questions of formation of monitoring key indicators of enterprise financial and economic activity mechanism. Emphasized that the provision of adequate conditions for sustainable development and preservation of financial stability of domestic enterprises in today's economic realities require continuous monitoring of the main indicators of their activity, including the estimation of the financial condition of the company and its investment attractiveness. Analyzed one of the major domestic problems of the Ukrainian economy as the underfunding of the real sector of the economy is the result of the processes of financialization and globalization of world capital. It is proved that for today there is a necessity of formation of the mechanism of monitoring of key indicators of financial and economic activities of enterprises, the results of which can be applied for development of strategy of development of separate entity. The results of the analysis of the dynamics of direct investments into the economy of Sumy region showed a general decrease in volume and a minor volume of investments in the industry compared to other industries. The results of the study identified the key 2 indicator - investment attractiveness of the enterprise and the dynamics of added value and establishing acceptable for a specific enterprise corridor variations AV. Monitoring of such deviations in the dynamics will allow us to have adequate information to identify trends for future development of the enterprise. The article presents the method of calculation of added value based on the financial statements, which is one of the key indicators in predicting trends in the development of the enterprise. Keywords: monitoring, strategic development, financial and economic activity of the enterprise, investment attractiveness, value added, labor productivity, financial status, managerial decisions, forecasting of enterprise development.
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POSOKHOV, Ihor, and Olena CHEPIZHKO. "Scientific and methodological approach to risk assessment of financial and economic activity in managing the competitiveness of machine-building." Economics. Finances. Law 1/1, no. - (January 19, 2022): 20–24. http://dx.doi.org/10.37634/efp.2022.1(1).5.
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Introduction. The study found that in modern conditions, the development of scientific and methodological approach to assessing the risks of financial and economic activities in managing the competitiveness of machine-building enterprises is an urgent problem, the solution of which will increase the competitiveness of machine-building enterprises. The purpose of the paper is to develop a scientific and methodological approach to assessing the risks of financial and economic activities in managing the competitiveness of the machine-building enterprise. Results. Accounting for risks during the implementation of the production project for the production of machine-building products is one of the modern tools that accompany the process of effective use of key competencies to increase the competitiveness of machine-building enterprises. A scientific and methodological approach to assessing the risks of financial and economic activities in managing the competitiveness of the machine-building enterprise is proposed. Forecasting possible losses from the implementation of measures of the production project for the production of machine-building products will contribute to the effective accounting of risk factors and increase the level of economic stability during the implementation of the production project. Conclusions. The analysis of scientific publications on risk management at the enterprise and the development of scientific and methodological approach to risk assessment of financial and economic activities of machine-building enterprises. A scientific and methodological approach to assessing the risks of financial and economic activities in managing the competitiveness of the machine-building enterprise is proposed. Мeasures for timely forecasting and effective accounting of the probability of occurrence of risk factors will help maintain and increase the competitive advantages of the production project for the production of finished products of machine-building enterprises.
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CHERNIAIEVA, Anna, and Anastasiia KONDRATENKO. "Use of rating methodology for evaluation of the financial condition of the enterprise." Economics. Finances. Law, no. 10/2 (October 26, 2020): 13–16. http://dx.doi.org/10.37634/efp.2020.10(2).3.
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Introduction. A necessary condition for effective corporate finance management, rational use of enterprise resources is a reliable and comprehensive evaluation of the financial condition of the enterprise. In the modern practice of financial management, the problem of qualitative and quantitative justification of management financial decisions is solved through the widespread use of information about the financial condition of enterprises, which are the main subjects of economic relations. The purpose of the paper is to research of essence and features of use of a rating evaluation of a financial condition of the Ukrainian enterprises in modern economic conditions Results. There are many methods for evaluation the financial condition of an enterprise: balance methods, express analysis, efficiency analysis, bankruptcy evaluation, rating evaluation, integrated evaluation. The choice of method of conducting a comprehensive evaluation of the financial condition of the enterprise depends on a number of factors: type of economic system, the degree of development of market relations, the peculiarities of the balance sheet and other forms of reporting, industry characteristics, type of activity, form of ownership of the enterprise, etc. We recommend the rating evaluation of the financial condition of the enterprise. The methodology of rating evaluation of the financial condition of the enterprise is based on an integrated approach; indicators of profitability, liquidity, financial independence and financial stability of the enterprise, and also data on efficiency of use of financial resources and production potential of the enterprise are used at its construction. Calculations of indicators of the financial condition of the enterprise according to the rating assessment method were carried out on the basis of the data of the company's public financial statements for the period 2017–2019. According to the results of calculations, the enterprise received a score of 0.615 points, which corresponds to the AA rating. Conclusion. The use of rating assessment of the financial condition of the enterprise is an effective tool of financial analysis, which allows to obtain a final evaluation of the financial and economic activities of the investigated enterprise.
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Sekirozh, Y. V. "Scientific and Methodological Aspects of Assessing the Sustainable Development of Machine-Building Enterprises as a Tool for Adjusting Management Activity in a Strategic Perspective." PROBLEMS OF ECONOMY 4, no. 46 (2020): 224–30. http://dx.doi.org/10.32983/2222-0712-2020-4-224-230.
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Machine-building enterprises have been proven to play the main role in ensuring the sustainable development of Ukraine’s machine-building industry, as the latter is the main component of Ukraine’s economic complex. The state and prospects of the further development of machine-building enterprises is an important research area dealing with the current transformation processes in Ukraine, as implementing innovations at machine-building enterprises is problematic due to the difficult financial and economic situation in the country. It is concluded that the scientific and methodological approach to assessing the sustainable development of machine-building enterprises covers the full range of the constantly changing financial and economic information, and takes into account all the possibilities for enterprise development, as the current situation, being characterized by rapid economic changes at machine-building enterprises, requires new methodological approaches to its studying. The suggested scientific and methodological approach should become that very tool in the strategic management system of an enterprise, which would take into account the existing objectives and, relying on the analysis of financial and economic situation and statistics data on the sustainable development of the enterprise, would allow timely adjustment of the entire management activity, as the main purpose of the approach is to identify, at the earliest possible time, the difference between the actual results of the sustainable development of enterprises and the forecasted ones; to identify the reasons that caused this difference; to suggest actions to properly adjust particular areas of financial and economic activity in order to normalize them and enhance the general enterprise development.
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Silakova, H., O. Vialets, T. Batrakova, O. Mykhailenko, and O. Ovdii. "Strategic diagnostics in the system of controlling the financial results of the enterprise." Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, no. 2 (April 30, 2022): 154–58. http://dx.doi.org/10.33271/nvngu/2022-2/154.
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Purpose. To create a mathematical model and approaches for the formation of optimal management actions on the basis of strategic diagnostics data and to use them to form an effective algorithm of strategic diagnostics in the system of controlling the financial results of the enterprise. Methodology. General and special methods of cognition were used during the study. The scientific economic approach to the implementation of the method of scientific abstraction was used to substantiate the relevance of the topic, purpose and tasks of the study, analysis of the impact of the use of strategic controlling systems on the financial condition of the enterprise. The method of analysis and synthesis and the method of induction and deduction were used to develop an algorithm for strategic controlling of the financial activity of the enterprise. The method of economic modeling was used for a formalized description and strategic forecast of the effectiveness of the strategies selected according to the controlling data. The method of comparison was used to analyze the pace of financial results and forecast the results of the extractive industry and the development of quarries by region. Findings. The mathematical model and approaches have been developed using the entropy method and the time series method for comparative analysis of variants of complex application of management solutions for the formation of optimal management actions based on strategic diagnostic data. An algorithm of strategic diagnostics in the system of controlling the financial results of the enterprise was created. The proposed vector criteria, their rate of change detected during the controlling, and their threshold values become an indicator that the current financial and production condition of the enterprise requires decisions to neutralize risks and improve the financial condition of the enterprise. Originality. The proposed mathematical model and approaches were first used to analyze the directions of strategic diagnostics in the system of controlling the activities of the enterprise. For the first time, a system of vector criteria for determining the need for management decisions to improve the financial condition of the enterprise has been proposed. The algorithm of realization of strategic controlling of financial activity of the enterprise is introduced. Practical value. The developed algorithm and mathematical apparatus can be used both for scientific purposes and in practical work by the management of enterprises of various industries. The effectiveness of the developed mathematical methods and the proposed algorithm is tested on forecasting the activities of mining enterprises and quarry development for Kyiv, Mykolaiv and Odesa regions of Ukraine.
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Shpak, Nestor, and Yurii Hurskyi. "TOOLS FOR ECONOMIC PROTECTION OF ENTERPRISES IN THE CONDITIONS OF INTERNATIONAL ACTIVITY: ESSENCE AND FEATURES." Economic Analysis, no. 32(1) (2022): 115–25. http://dx.doi.org/10.35774/econa2022.01.115.
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Introduction. In order to maintain the stable functioning of the enterprise, protect its intellectual property, guarantee the inviolability of property, protect information and interests of stakeholders, maintain a stable financial condition, develop international economic relations and achieve other goals, the tools for economic protection of the enterprise should be used. Purpose. The article should clarify the definition of «Tools for economic protection of the enterprise» and point out their features in the context of international economic activity. Method (methodology). To achieve the goals, the article uses theoretical methods: analysis, synthesis, comparison, systematization. This provided an analysis of the literature and the formulation of the scientific apparatus on the problem. Results. The article clarifies the essential definition of this concept, which proposes to understand «The means of preserving the autonomy of the enterprise, the development of the identity of its production, economic and international economic activities, meeting the needs and interests of stakeholders who, through the implementation of a set of actions that optimize management processes, harmonize the financial condition of the enterprise, which contribute to the development of international relations». Their functional purpose is: analysing and preventing of risk in the activities of the enterprise, taking measures to optimally cover the losses that have been recorded; analysing the results of measures to reduce risks, motivational activities in the field of risk management, etc.; neutralizing of negative impact on enterprises of threats to socio-economic development; conservation of the autonomy of the enterprise, the development of the characteristic properties of its production and economic and international economic activities, which determine the competitive advantages of the enterprise and success in the market. The features of the tools for economic protection of the enterprise in the conditions of international activity in the article include: scientific and systematic, complexity, financial support, innovation, standardization, motivation, focus on meeting the needs of stakeholders, development of the HR system of the enterprise.
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Hanna, KOVALOVA, Olena STANISLAVYK, and Oleksandr KOVALENKO. "Essence and calculation of financial potential of the enterprise." Economics. Finances. Law, no. 2 (February 26, 2021): 23–26. http://dx.doi.org/10.37634/efp.2021.2.6.
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Introduction. The activity of any enterprise is not possible without the use of skills and abilities of the organization of financial management. According to the current legislation, any commercial enterprise is created for profit. But making a profit can not be possible without proper management of the enterprise and calculation of its financial potential. In modern conditions, financial potential becomes a factor that determines the financial, investment, integration and other relations between enterprises of different sectors of the economy and forms of ownership. The purpose of the paper is to study the essence and to suggest ways of calculating the financial potential of the enterprise. Results. In the paper the important aspects of the financial potential of the enterprise are considered. The economic essence of the financial potential of the enterprise is revealed and its definition is formulated. It is shown that the availability and size of financial potential provide the enterprise with a certain location in the ranking of organizations, in the market of goods and capital. It is denoted that in modern economic conditions scientific and practical interest in clearly defining the financial potential of enterprises is growing. Ways of calculating the financial potential of the enterprise are proposed. According to the system approach, the financial potential of the enterprise is considered as the potential of the financial system of the enterprise. Conclusion. The financial potential of the enterprise is the inertia of self-development, independence and self-preservation of its financial system. The magnitude of the financial potential of the enterprise is the potential volume of accumulation, return, expenditure of financial resources due to its position (financial, economic, territorial, etc.) relative to other enterprises, as well as due to some other properties of the financial system. The key factors of effective management of financial potential are effective policy of formation, distribution and use of income, policy of management of active and passive capital and dividend policy of the enterprise.
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Shestak, V. P., E. I. Moreva, and I. G. Tyutyunnik. "Financial Management of Innovative Activity." Finance: Theory and Practice 23, no. 6 (December 24, 2019): 63–75. http://dx.doi.org/10.26794/2587-5671-2019-23-6-63-75.
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Increasing investment activity is a key problem for Russia. Despite many state’s efforts, investment activity is low. The aim of the article is to propose an innovation management method based on a systems approach. The main objective of the research is to find an effective approach to optimizing state efforts to enhance financial management of innovative activity. The research methodology is based on the analysis of the enterprise closed innovation system. Economic and mathematical methods are used to represent the management function as an operator equation of the first kind. This allows to create a control algorithm to maximize the effectiveness. The methods of computational diagnostics and tomographic economics are used for the element-by-element analysis of the subsystems of the innovation system. The information base for the study was publications concerning the theory of management and business management. The possibility of applying computational diagnostic methods to optimize the financial management of innovation activity was proved by separating the controlling and controlled subsystems of the enterprise innovation system and observing all laws of production. A form of control functional was obtained on the sets of observable characteristics of the controlling and controlled subsystems while optimizing the results of innovative activity due to the feedback channel. The results of the study may be of practical interest for innovative projects in order to transfer the enterprise to innovative development, in particular, in relation to the restructuring of organizational structures and institutional support in the digital economy format.
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SEMERUN, Liudmyla, Antonina PORKHUN, and Anna SHMYRINA. "Economic condition of the enterprise and its evaluation indicators." Economics. Finances. Law, no. 1/1 (January 27, 2021): 41–46. http://dx.doi.org/10.37634/efp.2021.1(1).8.
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Introduction. The effectiveness of enterprise management largely depends on an objective, timely and comprehensive assessment of its economic condition. Today there are a number of studies that define the financial condition of the enterprise and reveal the content of this economic category. However, there are some differences between the financial and economic components, so it is necessary to clarify the essence of the concept of "economic condition of the enterprise" and justify the indicators for its evaluation. The purpose of the paper is the research of the concept of "economic condition of the enterprise", formation of a system of indicators for its assessment and implementation of an integrated assessment of the economic condition of PJSC "Odeskabel". Results. The paper presents a theoretical generalization of the essence of the economic condition of the enterprise and provides an author's definition of this category. The economic condition of enterprises is a complex concept that reflects the condition of the enterprise in the process of activity and is characterized by a system of indicators that determine the financial position of economic entities, the efficiency of their operation and the level of competitiveness in the market. The system of indicators for assessing the economic condition of industrial enterprises is substantiated. The stages and methods of calculation of a complex integrated indicator are revealed, which takes into account the value of all components of the economic condition of the enterprise and allows to identify problem areas and take measures to neutralize them in the future. Conclusion. The developed integrated indicator for assessing the economic condition of industrial enterprises from the position of its relationship with financial stability, liquidity, efficiency and competitiveness allows you to make better management decisions to determine development priorities in accordance with the planned goals of the enterprise.
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Nesterenko, O. O. "The place of reporting in the management of financial results of the enterprise." Problems of Theory and Methodology of Accounting, Control and Analysis, no. 1(48) (April 29, 2021): 26–32. http://dx.doi.org/10.26642/pbo-2021-1(48)-26-32.
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The purpose of the article is to determine the place and impact of indicators of financial, non-financial and internal reporting on the management of financial results of enterprises. It is determined that the primary cause of significant losses in the activities of enterprises is the global epidemic COVID-19, which reduced economic activity, gave impetus to additional investment and financial incentives. It is proved that in order to increase the efficiency of profitability management, enterprises need to systematically analyze the indicators of financial, non-financial and internal reporting and investigate the factors influencing their importance and make appropriate changes to the financial performance management system. The place of different types of reporting in the process of managing the financial results of the enterprise is considered. In order to obtain the highest quality, objective and true forecast indicators of financial results, a sequence of analysis of indicators based on financial statements has been developed. In order to determine the financial indicators, strengths and weaknesses of the entity and the list of issues that should be disclosed in the internal financial statements, it is proposed to conduct a survey of stakeholders. It is proved that the mechanism of financial results management should be based on special indicators that comprehensively characterize the tax, investment, innovation, social and environmental components of the business model of the entity, which is most fully implemented in integrated reporting. It is proposed to constantly assess the risks that may arise when expecting excess profits from its use and in the event of certain deviations to make appropriate adjustments to financial policy, analyzing the indicators of integrated reporting. A matrix for monitoring the financial reliability of the business model of the business entity has been developed. Factors that significantly affect the financial results of the enterprise are classified according to the following characteristics: attitude to the enterprise (external and internal); time of action (permanent, temporary, past, current and future); content (economic, social and environmental).
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Rybakova, Tetiana. "Mechanism of financial regulation of business entities foreign economic activity." University Economic Bulletin, no. 51 (December 21, 2021): 128–36. http://dx.doi.org/10.31470/2306-546x-2021-51-128-136.
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Relevance of research topic. In modern conditions of globalization and strengthening the international integration processes, the enterprises foreign economic activity (FEA) acquires strategic importance for their further development. Formulation of the problem. Today, one of the problems facing business entities in their foreign economic activity is the lack of an effective mechanism for its financial regulation. Taking into account the leading role of financial and economic factors in the management of the foreign economic activity, such a mechanism would allow enterprises to implement effectively their foreign economic strategy and improve their competitive positions in the foreign markets. Analysis of recent research and publications. The problems of financial mechanisms and financial regulation are the subject of research in the professional scientific literature on the theory of finance. Certain issues related to the financial regulation of enterprises’ foreign economic activity are studied in scientific papers on foreign economic activity, financial management, foreign economic activity management, strategic management of the foreign economic activity. Selection of unexplored parts of the general problem. A thorough study must be conducted on the specifics of financial regulation of foreign economic activity at the level of business entities, as well as on the creation and functioning of a financial self-regulation mechanism in foreign economic activity. Setting the task, the purpose of the study. Developing a mechanism of financial regulation of business entities foreign economic activity, and studying its components, taking into account the peculiarities of financial regulation of foreign economic activity at the micro-level. Method or methodology for conducting research. System and structural approach, method of logical analysis, method of graphic analysis, method of comparison, method of structuring. Presentation of the main material (results of work). The paper substantiates the feasibility of creating a separate mechanism on the enterprises carrying out foreign economic activity, aimed at its financial regulation. Based on the analysis of the domestic legal framework and scientific research on foreign economic activity and enterprise finances, the features of financial regulation of business entities foreign economic activity are determined, which should be taken into account when building an appropriate mechanism. The mechanism of financial regulation of business entities foreign economic activity is developed and its components are investigated. The field of application of results. Scientific research of the problems of financial regulation of business entities foreign economic activity, the educational process (in the preparation of the relevant sections of textbooks and tutorials for courses "Finance", "Foreign economic activity"). Conclusions according to the article. When forming the mechanism of financial regulation of business entities foreign economic activity, the peculiarities of such a regulation at the business entities level should be taken into account. The structure of the mechanism of financial regulation of business entities foreign economic activity is built based on its belonging to the general mechanism of enterprise management, the mechanism of foreign economic activity management, the financial mechanism of enterprises, and the monetary-financial mechanism of foreign economic activity. The structure includes financial management of business entity foreign economic activity as a set of target, functional, providing, and management subsystems, as well as a subsystem of financial levers through which the influences on foreign economic activity are made, and a direct regulation subsystem. Along with the key role of state regulation, the enterprises’ managers must make and implement independent decisions, develop their own systems of financial regulation of foreign economic activity at the corporate level.
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PLYASKINA, А. I., and K. V. PIGOL. "FEATURES OF ENTERPRISE MANAGEMENT USING SCIENTIFIC METHODS OF INTERNATIONAL MANAGEMENT." Economic innovations 23, no. 3(80) (August 20, 2021): 286–90. http://dx.doi.org/10.31520/ei.2021.23.3(80).286-290.
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Topicality. One of the modern features is the growth of economic interdependence of countries in the context of globalization and diversification of commodity, financial, investment and other markets. This trend determines the specifics and features of the development of foreign economic activity, which plays a crucial role in strengthening international integration processes. In the researched scientific works considerable attention is paid to the organization of foreign economic activity, research of aspects of efficiency of management of foreign economic activity.Aim and tasks. In view of this, the main purpose of the study is to systematize approaches to determining the financial management of foreign economic activity and outlining its own vision for the realities of the domestic economy.Research results. Financial management as a system of principles, means and forms of organization of monetary relations of the enterprise, aimed at managing its financial and economic activities, which include: development and implementation of financial policy of the enterprise; information support; evaluation of investment projects and formation of a "portfolio" of investments; current financial planning and control. Evaluation of investment efficiency is central to the process of justification and selection of possible options for investing in investment projects, and therefore is the key to successful investment activities. Among these tools the author singles out: financial planning of financial flows; purchase and sale of currencies to service various transactions; purchase and sale of shares and other securities on international financial markets; operating with own securities in foreign markets; currency risk management. In the scientific literature we also emphasize the concept of international financial management, which is interpreted as a system of economic decisions arising from the implementation of financial management in the internationalization of economic activity of the firm. In our opinion, the proposed definition is too narrow for the concept of international financial management, but it can be used to define the concept of financial management of foreign economic activity. Thus, the concept of financial management of foreign economic activity combines three categories, namely finance, management and foreign economic activity.Conclusion. Management of investment attractiveness of domestic enterprises is based on the analysis of indicators of financial condition, while effective management of financial activity of the enterprise is provided by realization of the basic principles of financial management as a component of the general management of the enterprise. Our study is determined by sound recommendations and suggestions for improving modern methods and introducing more modern approaches to improving the efficiency of enterprise management in the international arena.
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Kapkanets, Vladyslav. "STRATEGIC MODEL OF EFFECTIVE MANAGEMENT OF FINANCIAL AND ECONOMIC POTENTIAL OF IRON ORE ENTERPRISE." Economic Analysis, no. 27(4) (2017): 211–18. http://dx.doi.org/10.35774/econa2017.04.211.
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Introduction. The success and effectiveness of industrial enterprises functioning largely depends on its financial and economic potential and the efficiency of its use, distribution and accumulation. However, some aspects of financial and economic potential management of economic entities related to its strategic modelling and forecasting have not been sufficiently investigated yet. Purpose. The article aims to develop and test strategic model of effective management of financial and economic potential of industrial economic entity on the example of iron ore enterprise. Method (methodology). The method of theoretical substantiation, system and analytical method, method of financial and economic analysis, method of economic and mathematical modelling, method of forecasting, graphic method have been used in this research. Results. It has been formed a strategic model of effective management of financial and economic potential of iron ore enterprise while taking into account the optimization of the multi-factor multiplier of economic profitability. It has been practically tested the reliability and effectiveness of the proposed model on the basis of analytical data of financial and economic activity of Ukrainian iron ore enterprises for the last three years. Prognostic diagnostics has been carried out. Practical recommendations as for optimization of the financial and economic potential management of iron ore enterprises have been provided. Scope of results. The results of the work can be applied in practice by the managers of iron ore enterprises in order to optimize the processes of searching, accumulation and distribution of material and financial resources and adjusting strategic plans for long-term development.
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Markina, Iryna, Valeriya Lenʹ, and Vitaly Shapka. "Cost management as a factor for improving enterprise economic security." Actual problems of innovative economy, no. 3 (May 30, 2019): 83–88. http://dx.doi.org/10.36887/2524-0455-2019-3-12.
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Introduction. Modern enterprises operate in conditions of political and economic instability. This requires enterpris-es to build an integrated system for ensuring economic security. In Ukraine, the issue of economic security is relevant. But not fully understood. Need to clarify issues related to improving cost management. This is a factor in improving the econom-ic security of the enterprise. The purpose of the study is the theoretical and practical justification of cost management. Results. One of the the main goal of the enterprise is maximum profit. A factor in the success of enterprises is to re-duce production costs. Business security is a prerequisite for stable sustainable development and effective operation of the enterprise. Economic security depends on many factors: the actions of competitors, unsuccessful state policies, changing market conditions, and crisis phenomena. Object of enterprise security: personnel (managers, structural divisions, share-holders and employees), financial, economic, material and intellectual capital of the enterprise; specifics of activity. The head of the enterprise makes a decision. The decisions concern the price of the product, the amount of expenses. Costs - a decrease in the volume of material assets, cash. Cost management involves functions: forecasting, planning, rationing, organization, calculation, motivation and stimulation, accounting, analysis, regulation and control of expenses. Conclusions. We consider the “Cost-Volume-Profit” (CVP- analysis) analysis to be successful. It allows you to iden-tify changes in costs. The dependence of changes in production volumes and incomes on sales is studied; expenses and net profit. It’s substantiated that cost and profit planning using CVP analysis has limitations. Marginal income (profit) – the difference between sales revenue and variable costs. The higher the marginal income level, the faster fixed costs are reim-bursed. The average marginal income is an “indicator” of the contribution of a unit of production to covering fixed costs. The purpose of break-even analysis (CVP-analysis) is to predict financial results. Break-even analysis of economic activity is an indicator of the brink of effective and inefficient management. The same is the condition for maximizing profits. The main thing is an effective defense mechanism of the enterprise. Provides economic security of the enterprise from the threat of bankruptcy. Keywords: economic security, cost management, profit, costs, cost-volume-profit analysis.
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Pakhucha, Elina, Natalia Babko, Tamila Bilousko, Roman Bilousko, Serhiy Vynohradenko, and Otabeg Azizov. "Strategic Analysis of Export Activities of Enterprises to Ensure Sustainable Development." European Journal of Sustainable Development 10, no. 4 (October 1, 2021): 251. http://dx.doi.org/10.14207/ejsd.2021.v10n4p251.
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In the article necessity and significance to study of financial risks, which are a constant factor in the activity of any enterprise, are substantiated. It is established that for a broader understanding of the essence of financial risk it is necessary to consider it as a cumulative risk of the enterprise. The growing impact of financial risks on the results of financial and economic activities is associated with the uncertain economic situation, the instability of financial market conditions, the rapid introduction of new financial technologies and financial instruments, expanding the scope of financial relations of the enterprise. Methods of financial risk assessment are investigated, which involve the identification of risks, determining the causes of their occurrence and potential risk areas, as well as the negative consequences of making a risky decision or possible benefits. Comparing the methods of quantitative assessment of financial risk, it was found that the level of risk may vary depending on the chosen method of assessment. A system of financial ratios has been formed to quantify the risk of enterprises of different sizes, namely for large, medium and small enterprises, which most accurately reflect the current financial situation. An assessment of the financial results of enterprises operating in the field of wholesale trade. The financial results before the taxation of activity as an indicator that characterizes the potential for profit generation of wholesale trade enterprises by size distribution are studied. The value of financial results (balance) before taxation of wholesale trade enterprises is forecasted. It is established that the growing pressure of the crisis and insecurity on the part of the state will lead to the transition from the crisis in which enterprises are today, to a state of economic bankruptcy. This situation requires the formation and use of financial resources of enterprises, based on the system and complexity of making and implementing management decisions. Quantitative and qualitative assessment of financial risks of wholesale trade enterprises belonging to groups of large, medium and small enterprises was carried out. Based on these calculations, the ranking of priorities in the management of financial stability. It is established that the first place among the blocks of financial coefficients of risk assessment of enterprises is occupied by the block of business activity, then the block of profitability indicators, the block of liquidity indicators, the final block of capital structure. For each of the defined blocks the directions of increase, or optimization that will provide financial stability of the enterprise are presented.
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Obukhova, A. S., and S. A. Narykova. "DEVELOPMENT OF ACTIVITIES TO IMPROVE THE FINANCIAL STATUS OF THE ORGANIZATION BASED ON CORRELATION-REGISTRATION ANALYSIS." Proceedings of the Southwest State University 21, no. 3 (June 28, 2017): 104–13. http://dx.doi.org/10.21869/2223-1560-2017-21-3-104-113.
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In modern economic conditions the activity of each economic entity is the subject of attention of a wide range of market participants interested in the results of its functioning. In order to ensure the survival of the company in modern conditions, management personnel must, first of all, be able to assess the financial condition of their enterprise and existing potential competitors really. Financial condition is the most important characteristic of the economic activity of an enterprise, which determines competitiveness, potential in business cooperation, assesses to what extent the economic interests of the enterprise and its partners are financially and economically viable. One of the most important indicators of the company's well-being on the market is its financial state. It reflects the final results of its activity which is the most important characteristic of its business activity and gives a description of financial competitiveness, solvency, creditworthiness, information on the fulfillment of obligations to the state and business partners. The main purpose of the analysis of the financial condition of the enterprise is the timely identification and elimination of deficiencies in financial activities and the search for reserves to improve the financial condition of the enterprise and its solvency. Timely and qualitative analysis of the financial condition ensures the effective formation and use of monetary resources to create optimal conditions for the implementation of the financial and economic activities of the enterprise. In this article we consider measures to improve the financial condition of OOO Oktyabrskaya Agrofirm. Oktyabrskaya AF LLC needs to increase revenues from the sale of the most profitable types of products, to intensify production through the renewal of the machine and tractor fleet, and to expand the distribution channels for the main crop production in order to increase the efficiency of its financial and economic activities. The enterprise can reduce the cost of production by rational use of material resources, reducing the material consumption of products and revising the consumption rates in the main areas of costs. To determine ways to increase the efficiency of financial and economic activities of LLC Oktyabrskaya, it is necessary to conduct a correlation-regression analysis of the profitability of the assets of the enterprise and the factors that affect it. So you need to calculate the return on assets, the profitability of sales and asset turnover based on the financial statements of OOO Oktyabrskaya.
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Pihul, N., and A. Khomutenko. "THE THEORETICAL BASIS OF ENTERPRISE FINANCIAL SECURITY AND THE MECHANISM OF ITS MANAGEMENT." Vìsnik Sumsʹkogo deržavnogo unìversitetu, no. 2 (2019): 80–87. http://dx.doi.org/10.21272/1817-9215.2019.2-10.
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The paper describes concept of "enterprise’ financial security" in modern conditions and compares the main approaches to its definition taking into account the complex nature of this economic category (from the point of view of the object of paramount attention, the task of the security system and the criterions of security). The authors identified two approaches to understanding the financial security of the enterprise: the first approach, which considers financial security in terms of the enterprise’ ability to withstand the threats of the internal and external environment; the second approach determines the enterprise’ financial security as the ability of the enterprise to perform its activities effectively in an uncertain and competitive environment. In addition, the study identified the essence of enterprise’ financial security management, its purpose, objectives, functions, principles, mechanism and basic elements of management. In the course of the research it was found that the most important in the enterprise’ financial security management is to built adequate mechanism of financial security management. The authors define such mechanism, as a set of basic influence’ elements on the process of development and implementation of management decisions to ensure the protection of his financial interests against various threats. Moreover, the authors investigated the systems of enterprise’ financial security analysis, which allow to investigate the financial condition and main results of financial activity of the enterprise in order to determine the level of protection of his financial interests from threats and identify the reserves for its improvement. The system of integral analysis was defined as the system that gives the most solid conclusions about the state of financial security. The main reason for this is that above mentioned system allows to conduct a deeper financial analysis, to evaluate the main areas of financial activity of the enterprise and to aggregate the obtained data into one indicator. Keywords: enterprise's economic security, enterprise's financial security, mechanism of the enterprise`s financial security, management of the enterprise`s financial security.
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Лысенко, И., and I. Lysenko. "Financial Condition and Solvency of Russian Business in Modern Conditions." Scientific Research and Development. Economics 7, no. 2 (May 13, 2019): 45–48. http://dx.doi.org/10.12737/article_5ccfd05b8dd3b3.00980441.
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Financial condition of the enterprise determines solvency and competitiveness of the enterprise, its potential in business cooperation, is the guarantor of effective realization of economic interests of all participants of economic activity. Optimization of the financial condition of the enterprise is one of the main conditions for its successful development in the future.
The financial condition of the enterprise, its stability and stability depend on the results of its production, commercial and financial activities. If the production and financial plans are successfully implemented, it has a positive impact on the financial position of the enterprise. Conversely, as a result of the failure to fulfill the plan for the production and sale of products, there is an increase in its cost, a decrease in revenue and the amount of profit, and as a consequence, the deterioration of the financial condition of the enterprise and its solvency.
The article analyzes the dynamics of statistical indicators characterizing the financial condition of Russian enterprises in the period 2010-2018. The branch structure of distribution of the profitable companies is described. Indicators of solvency of national business in the conditions of macroeconomic instability are investigated.
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Murovana, Tetiana, and Vladyslav Paskhal. "Diagnosis of the crisis possibility and its effectiveness to maintain the financial stability of entrepreneurs." Economic Analysis, no. 29(4) (2019): 121–31. http://dx.doi.org/10.35774/econa2019.04.121.
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Introduction. Transformational changes in the national economy, its high level of dependence on the development trends of developed countries, and unstable financial situation require the search for effective tools for identifying and minimizing regulatory, financial, tax and reputational risks in business entities. The diagnosis of probability of crisis and bankruptcy is an effective tool for maintaining the financial stability of enterprises. Despite the large number of researchers and their achievements, the large number of methods and models for predicting the likelihood of bankruptcy, this problem is relevant, because no model can predict such external factors as political instability, natural disasters, worsening social- economic situation, or even the global economic crisis, as well as internal factors such as poor planning or inefficient management of the enterprise. Bankruptcy forecasting models (E. Altman model, model R and Tereshchenko model) have many disadvantages besides many advantages. The enterprise should choose a model that takes into account all the peculiarities of the economic development of the enterprise and trends in the markets in which it is presented. In addition, the assessment of bankruptcy should be performed not only in cases where the enterprise already has crisis phenomena, but also in order to prevent them from being diagnosed in a timely manner and preventing bankruptcy. Method (methodology). Methods of analysis of structure and series of dynamics were used in the research of the current state and tendencies of development of the business sector. Investigation of existing approaches to analyze the likelihood of a crisis in the enterprise and to identify the most effective of them was carried out using methods of synthesis, analysis and systematic approach. The study of the probability of bankruptcy at the enterprise is based on discriminant analysis (using the four-factor model R, five-factor Altman model, six factor Tereshchenko model). Results. Under the conditions of economic instability in Ukraine, there is a need to improve the financial stability and solvency of Ukrainian enterprises. This is possible by timely diagnosis of the likelihood of a crisis and, as a consequence, bankruptcy of enterprises. It is advisable to carry out the diagnostic process using the following stages: rapid analysis of early signs of crisis at the enterprise; economic evaluation and analysis of financial statements of the enterprise; analysis of the financial condition of the bustle of management; rating of enterprise activity; discriminant analysis of the probability of bankruptcy at the enterprise. Of the many existing models, the most effective models are proposed to be used: Altman model (in three modifications – for joint stock companies, for private companies that do not place shares in the stock market, for non-productive enterprises), model R and the Tereshchenko model. Bankruptcy forecasting models, in addition to their many advantages, also have their disadvantages. So the company should choose a model that takes into account all the peculiarities of the enterprise's economic development and trends in the markets in which it is presented. In addition, the assessment of bankruptcy should be performed not only when the enterprise is already in crisis, but also for financially sound enterprises in order to diagnose crisis events in a timely manner and prevent bankruptcy.
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Ivanova, М., V. Smiesova, A. Tkachenko, M. Boichenko, and T. Arkhypenko. "EFFICIENCY OF THE LOGISTICS CHAIN AS A FACTOR OF ECONOMIC SECURITY OF ENTERPRISES." Financial and credit activity: problems of theory and practice 2, no. 37 (April 30, 2021): 151–60. http://dx.doi.org/10.18371/fcaptp.v2i37.229950.
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Abstract. The basis of economic and financial security of the enterprise is effective financial and economic activity, stable financial condition, rational use of financial resources, the ability to counter threats to the internal and external environment. One of the factors of effective financial and economic activity and economic security of enterprises is the formation of effective logistics chains that provide its participants with opportunities to counter threats to the internal and external environment. Formation of effective logistics chains on the basis of taking into account the economic interests of its participants causes changes in the results of their financial and economic activities and creates the basis for their financial independence, socio-economic efficiency and stability. The purpose of the article is to form approaches to assessing the efficiency of the logistics chain on the basis of economic and financial security of enterprises. The article investigates scientific approaches to evaluating the efficiency of the logistics chain of enterprises, identifies their strengths and weaknesses, analyzes their methodology. An approach to evaluating the efficiency of the logistics chain of industrial enterprises, the use of which will reconcile the economic interests of the participants in the logistics chain, reduce their financial costs, ensure effective economic activity, form the basis for their financial and economic security. The scientific novelty of the article is the formation of a modern approach to evaluating the efficiency of the logistics chain, which, in contrast to existing ones, involves the use of an indicator of the efficiency of logistics activities of enterprises, the proposed indicator is the stationarity of ratio of operating results to logistics costs relative to the mean or deterministic trend over time, and identification of potential models of logistics efficiency of enterprises, which would ensure economic and financial security of enterprises. It is proved that efficiency of the logistics chain is achieved under the condition that the financial result from the operating activities of the enterprises united by the logistics chain in relation to their costs for logistics activities will not change for a long time or will naturally change with a reliable forecast and possibility economic forecasting of further cooperation. The expediency of using this approach was confirmed on the basis of the analysis of the efficiency of logistics chains of selected enterprises. The initial data for the construction of this model were the logistics costs as a component of the company’s operating expenses and the financial result from operating activities. The deficiencies in the use of existing accounting standards and regulations that govern the integrated assessment of the enterprise’s logistics costs have been established. It is proposed to use the Davis databases, which are formed on the basis of a web-survey of enterprises regarding the value of their logistic costs. It is noted that the actual stability of the logistics chains for each enterprise and the optimal ratio of their results to costs are determined by the current market conditions. An idea of the efficiency of connections in the logistics chain is formulated. It was concluded that the existence of a long-term stable equilibrium in the form of vector co-integration for all subjects of the logistics chain can be considered optimal. Prospects for further research are the development of a scientific approach to the formation of a logistics cluster as a basis for financial and economic security of enterprises. Keywords: economic security, financial security, financial costs, financial results, efficiency, the logistics chain, logistics activities. JEL Classіfіcatіon С22, D22, D61, O30 Formulas: 5; fig.: 2; tabl.: 2; bibl.: 15.
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Bieliaieva, Nataliia, Mykola Krushelnytskyi, Lesia Voliak, Nataliia Usata, and Olena Sova. "From survival to business prosperity: the financial aspect of managing an organization in a crisis." Independent Journal of Management & Production 11, no. 9 (November 1, 2020): 2275. http://dx.doi.org/10.14807/ijmp.v11i9.1414.
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The article is about revealing the content and role of finance capacity and financial and economic results of enterprises activity under the crisis. The article provides an understanding of crisis results at the enterprises activity in conditions of poor management and weak financial strategy. It is analyzed current business situation, including results of the companies due to the coronavirus. It is established that not only the crisis management system (if it exists at the enterprise), but also the financial management system at the enterprise has great importance during a crisis and ensures its stable functioning afterwards. With unstable financial flows and their inept coordination, a crisis for an enterprise can come much earlier (due to internal disruption) than for the whole country or the world economy as a whole. The results are based on theoretical scientific researches and financial and economic data of enterprises activity. Based on system analysis, a number of features have been identified as the building elements for the formation of understanding how to manage an organization in a crisis taking into account the financial aspect. A logical sequence of factors and their interrelationships was established within the entire process of enterprise management during a crisis. Identified elements indicate the directions that need to be implemented at the enterprise for its stable functioning even in times of crisis. According to the analyzed data, most companies used their financial reserves and were able to improve their positions. It is investigated the main common ways to reduce costs in crisis: reducing the production capacity (including the number of purchases, storage), changing the schedule of employees working day (taking into account daylight hours), reduction (closure) of sale points (which, among other things, provokes staff reduction also). It is declined ways of manager’s behavior as decide with speed over precision, adapt boldly, reliably deliver, and engage for impact, which help them to manage company effectively.
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Lysenko, Denis Vladimirovich, and Leyla Akgün. "ANALYSIS OF THE MAIN INDICATORS OF ECONOMIC ACTIVITY OF ENTERPRISES PRODUCING TRUCKS ACCORDING TO ACCOUNTING DATA." Chronos: economy sciences 6, no. 3(31) (November 3, 2021): 4–9. http://dx.doi.org/10.52013/2712-9713-31-1-1.
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The modern system of accounting and management accounting includes a set of methods for analysing and evaluating the analysis of the financial condition of an enterprise. A comprehensive analysis of economic activity is a system of special knowledge related to the study of economic processes that develop under the influence of objective economic laws and factors of an objective order. Comprehensive analysis is of great importance in strengthening the financial condition, increasing the liquidity of assets, their solvency, searching for reserves for economic growth, efficiency in the use of resources, and in general business processes. The transformation of accounting, which is being carried out as part of the restructuring of the economy to market track, has once again brought to life such an important element of analytical work as financial analysis. The effectiveness of enterprise management is largely determined by the degree of its organization and the quality of information support. Analysis of financial statements in the framework of a comprehensive analysis of economic activity consists in the application of analytical tools and methods to the indicators of financial documents in order to identify significant relationships and characteristics necessary for making any decision. It serves to transform data so numerous and varied in our computer age into necessary and always scarce information. The business analysis process is described differently depending on the task at hand. It can be used as a preliminary screening tool when choosing a direction for investment or possible options for a merger of enterprises. It can also act as a forecasting tool for future financial conditions and results. Comprehensive analysis is also applicable to identify problems in the management of production activities. It can serve to assess the performance of the company’s management. And most importantly, financial analysis allows you to rely less on guesses, premonitions and intuition, to reduce the inevitable uncertainty that is present in any decision-making process. Financial analysis does not eliminate the need for business sense but provides a solid and systematic foundation for its rational application. Reporting analysis in the process of a comprehensive analysis of the economic activity of an enterprise is a process that aims to assess the current and past financial condition and results of the enterprise, while the primary goal is to determine estimates and predictions regarding the future conditions and activities of the enterprise.
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HAIDARZHYISKA, Olha, Tetiana SHCHEPINA, and Iryna MASIUK. "Behavioral finance and their impact on the financial results of the enterprise." Economics. Finances. Law, no. 3(1) (March 31, 2020): 24–27. http://dx.doi.org/10.37634/efp.2020.3(1).4.
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Introduction. The article analyzes the differences between traditional finance and behavioral finance. The basic tools of micro-behavioral finance are highlighted, the influence of behavioral finance on ensuring the effective result of the activity of economic relations is determined. The necessity of further study of behavioral finance in modern financial science is substantiated. It describes how behavioral finance is intended to explain the behavior of economic relations in financial market decision-making, as well as how the behavioral approach is sufficiently manifested in predicting the effects of an entity's activities today. Purpose. The methodology of work is studied in the understanding of the concept of "behavior of people", as well as their representatives on the subjects of economic dependence. Results. In recent decades, a new science has emerged and is developing - behavioral finance, which is aimed at clarifying a number of anomalies that emerge in the financial markets. Behavioral finance casts doubt on the rational behavior of market participants and examines deviations in the decision-making system. Conclusion. Assessment of the prospects of enterprise development, taking into account changes in the economy and behavioral finance is the basis for the formation of forecast data and drawing up plans. As a rule, virtually all forecasting methods are based on changes that occur from one period to another, without taking into account the behavioral factor, which allows only to predict the financial results of the enterprise while maintaining existing trends in the market environment, without taking into account possible qualitative changes and may lead to inefficient economic activity, and thus to a decrease in profit.
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Vovchak, О., І. Kulyniak, L. Halkiv, М. Pavlyshyn, and Т. Horbenko. "DEVELOPMENT OF CRISIS DIAGNOSTIC AT THE ENTERPRISE: FINANCIAL AND ECONOMIC BREAKDOWN." Financial and credit activity: problems of theory and practice 3, no. 38 (June 30, 2021): 292–303. http://dx.doi.org/10.18371/fcaptp.v3i38.237459.
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Abstract. The activity of enterprises in modern economic conditions is exposed to threats caused by the uncertainty of the market environment. One of the options for overcoming the crisis and reducing the level of economic risk for enterprises is to develop and implement effective anti-crisis measures, which should be implemented comprehensively and using the results of the continuous diagnostics. That is the reason why the purpose of the study is to develop the theoretical and methodological provisions for building a system for diagnosing crisis situations of enterprises. Unlike other approaches to building such a system, the authors focus on the calculation of an integrated indicator, partial indicators of which reflect the level of crisis situations in the enterprise by areas of origin, taking into account the provisions of the balanced scorecard (BSC). Systematizing the research of scientific sources, as well as taking into account the provisions of the balanced scorecard (BSC), the authors propose to distinguish depending on the scope of four components of the financial and economic crisis in enterprises: financial, operational (production), staffing and marketing crisis. It is proposed to diagnose the crisis of the enterprise by determining the integrated indicator using the analytic hierarchy process (T. Saaty method) and expert survey (to calculate the severity of crises and indicators), as well as the method of rationing (to bring indicators of crisis diagnostics, which are different by types, to a single information orientation and dimension). The system of indicators of diagnostics of financial, operational, staffing and marketing crisis at the enterprises is formed and for their further rationing, their characteristic values are defined. To generalize the level of crisis in the enterprise, the authors proposed to use the universal Harrington scale. According to this scale, the authors identified five levels of crisis in the enterprise and provided their characteristics.
Keywords: crisis state, financial crisis, operational crisis, staffing crisis, marketing crisis, Balanced Scorecard (BSC), indicators of crisis diagnostics, analytic hierarchy process.
JEL Classіfіcatіon Q01, G32, H12
Formulas:19; fig.: 0; tabl.: 11; bibl.: 27.
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Azarenkova, Galyna, Olena Golovko, and Kateryna Abrosimova. "Management of enterprise’s financial sustainability and improvement of its methods." Accounting and Financial Control 2, no. 1 (May 8, 2018): 1–14. http://dx.doi.org/10.21511/afc.02(1).2018.01.
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The article is dedicated to the solution of the relevant issue, concerning management of enterprise`s financial sustainability. Financial sustainability assessment is one of the most important principles of enterprise`s activity, which provides information about financial capabilities of the company at the time of its evaluation and for the future. It is a requirement for the enterprise activity, which provides a high level of competitiveness, efficiency and intensity. Thus, the restoration and strengthening of financial sustainability is a priority task for the enterprise, a basic precondition for its effective functioning. The purpose of the research is to analyze financial sustainability and to improve the methods and approaches of its evaluation. The following methods were used in this research: financial and economic analysis, economic and mathematical modeling, analysis and synthesis, comparison. The main results of the study are following: the theoretical and essential characteristics of enterprise financial sustainability has been determined; the financial status of PJSC “Turboatom” has been analyzed; the taxonomic index of financial sustainability has been calculated and the forecast of its significance has been made, the approaches to increase enterprise financial sustainability have been proposed.
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Khymych, Iryna, Tetiana Vynnyk, Nataliia Konstantiuk, Nataliia Tymoshyk, and Nataliia Yuryk. "Enterprise Financial Security as an Anti-Crisis Management Method." Modern Economics 25, no. 1 (February 23, 2021): 153–59. http://dx.doi.org/10.31521/modecon.v25(2021)-24.
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Abstract. Introduction. Enterprise financial security is one of the measures to ensure and support financial stability. It is able to act as one of the main anti-crisis management methods and is extremely relevant in the uncertainty of the activities implementation. Management and staff must comply with a number of requirements for ensuring and maintaining their own level of financial capacity for effective enterprise functioning. After all, this factor will promote both its general adaptation, and will allow to carry out own activity now. It will also contribute to the plan formation to ensure the enterprise activities for the future, taking into account the necessary changes based on determining their impact on the development of further events in the business world. Purpose. His article has been described the essence and features of the «Financial security of the enterprise» concept. The necessity of its application in modern conditions of enterprise activity as one of the most important anti-crisis management methods in conditions of uncertainty has been described. Results. The financial security of the enterprise is the basis of effective activity of any enterprise in modern business conditions, taking into account the influence of both internal and external factors that take place in the business world as a whole has been determined. It is researched that financial security needs constant updating and improvement. So, it must meet modern requirements for ensuring the stability of the enterprise as an important anti-crisis managing its activities method. The main components of financial security of the enterprise are offered and described, namely: organizational, managerial, and financial-economic. Conclusions. As a result or consequence of this, the formation, support, and development of the country’s enterprises’ financial security are influenced by many different, both interdependent and independent, internal and external factors. In addition, financial security needs constant provision to achieve a high level of support for the stable and uninterrupted operation of the enterprise under any conditions of its operation. Keywords: financial security; anti-crisis method; crisis phenomenon; organizational component; management component; financial and economic component; soft skills.
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Harmatiy, Nataliya, Iryna Khymych, and Nataliia Riznyk. "Specificity of ensuring the efficiency of the enterprise's activity with financial resources, PJSC «Kyiv confectionery factory «Roshen» as a case study." Socio-Economic Problems and the State 22, no. 1 (2020): 91–100. http://dx.doi.org/10.33108/sepd2020.01.091.
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The specificity of ensuring the efficiency of the enterprise with financial resources, both own and borrowed, PJSC "Kyiv Confectionery Factory "Roshen" as a case study during 2017-2018 is presented in the article. Currently, the ability to finance its own activities is an important factor for the enterprise functioning. The possibility of providing the enterprise with financial resources is a necessary condition for its successful operation. The future strategy of the enterprise will depend on the type and method of providing financial resources. An assessment of the financial security of the studied enterprise with financial resources based on the analysis of the financial indicators and financial ratios results dynamics is carried out. The main place in business is occupied by income and profits generated from own and borrowed financial resources. Therefore, this study reveals the degree of dependence of the enterprise on borrowed funds and its own capital availability is analyzed. The analysis of changes in financial results and financial ratios at the studied enterprise was carried out, for most of them the positive dynamics is observed. The identified factor is positive for the financial condition of the enterprise and for the implementation of its effective financial and economic activities in the future. The main opportunities and threats to the financial condition of the enterprise in the future on the basis of the obtained results on its financial resources are identified. The main ways to eliminate the threats of a certain financial danger in the activities of the studied enterprise based on the application of modern theory based on economic-mathematical modeling Value-at-Risk are presented which makes it possible to predict the main indicators of financial activity of the enterprise in the short term.
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Bezuglіy, Artem, Ihor Hresko, Olena Belska, Valentyna Kontseva, and Yuliya Bibyk. "FINANCIAL CAPACITY OF ROAD ENTERPRISES — AS ONE OF THE CRITERIA FOR PARTICIPATION IN THE PROCUREMENT PROCEDUR." Dorogi i mosti 2021, no. 24 (October 1, 2021): 8–19. http://dx.doi.org/10.36100/dorogimosti2021.24.008.
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Introduction. Financial capacity is a complex concept that is influenced by various financial and economic factors and is determined by the ability of the enterprise to perform its financial activities. One of the qualification criteria provided in [1] is the financial capacity availability, which is confirmed by financial statements. When fulfilling this criterion, enterprises are allowed to participate in the procurement procedure for performing of road works or services. Today, the analysis of financial condition according to the financial statements is a needed condition for evaluation the quality of financial and economic activities of the enterprise, and the determination of financial capacity of enterprises is essential and practical, because the economic level of the enterprise and the ability to analyze financial and economic activities depend on it. Problem statement. Requirements to the tender documents are set by the customer in order to verify the bidder, his ability to ensure the implementation of the procurement project and meet all the needed requirements. The customer needs to make sure that the public funds spent on the purchase will not be lost due to the financial problems of the contractor, as well as whether the contractor has sufficient financial capacity to perform road works. The criterion of financial capacity can be applied to any procurement, because it provides confirmation of the financial capabilities of the bidder. The need to consider this topic is to evaluate the financial capacity of road enterprises, the application of theoretical and practical approaches during the evaluation. Assessing and determining the level of financial capacity of road enterprises is an important task both in view of the needs of the enterprises themselves and in view of the customers of road works and services. Purpose. The purpose of the article is to highlight the theoretical and practical approaches to evaluation of the financial capacity of road enterprises, determination of the effectiveness of their activities based on the results of the evaluation and determination of bidders that will be allowed to participate in the procurement procedure. Given the need to establish the level of financial capacity as a result of the road company’s realization of its potential, it is important to identify and justify specific indicators of financial capacity and proposals for their practical application. Materials and methods. To determine the financial capacity of road enterprises, a set of scientific and methodological tools, economic and mathematical techniques and methods based on financial and statistical information about the activities of enterprises and indicators that affect it is used. In general, the procedure for evaluation of the financial capacity of road enterprises involves the following stages: collection of needed information and data on specific indicators that will characterize the financial state of the enterprise; calculation of indicators; comparing them with normative values. The financial statements of enterprises contain information on the state of enterprise finances, based on the analysis of which the main trends in the formation and use of financial resources of the enterprise, the reasons for changes, identifying strengths and weaknesses of the enterprise are determined, as well as reserves to improve financial condition in the future. It is for the assessment of the financial capacity of road enterprises a set of indicators for analyzing the financial condition of the enterprise is formed. Financial reporting data serve as a basis for calculating indicators. Results. The paper highlights the mechanism for evaluation of the financial capacity that will help to perform a comprehensive analysis of the financial activity of road companies and determine whether the company is allowed, given its financial capabilities, to participate in road works or services procurements. Evaluation of financial indicators and ratios will help for planning and forecasting the future activities of road companies for their participation in the procurement procedure for road works or services. Conclusions. When writing of the article provides an example of evaluation of the financial capacity, as well as its significance for the activities of road enterprises is determined. The coefficients and indicators proposed in the work can be used for objective evaluation of the financial capacity of road enterprises and will allow the following: to determine the degree of solvency of road enterprises, liquidity, the level of their financial stability and business activity, to determine their creditworthiness.
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Hromozdova, Larysa, Svitlana Nikolaieva, Viktoriа Ivanyuta, Inna Stenicheva, Elena Smirnova, and Svitlana Nikolaieva. "ENSURING ECONOMIC SECURITY OF THE ENTERPRISE." Problems of Innovation and Investment Development, no. 27 (December 21, 2021): 104–13. http://dx.doi.org/10.33813/2224-1213.27.2021.11.
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The purpose of the article is to identify problems in the operation of the enterprise and ensure its economic security; formation of a financial risk management system as an important component of economic security of the enterprise. The research methodology is based on the use of general scientific and specific methods, in particular: analysis and synthesis, induction and deduction, modeling, systematization and generalization. The scientific novelty of the obtained results lies in the substantiated essence of the main dangers and threats, the nature of their impact on the economic security of the enterprise and the need to identify them to economic security. Conclusions. It is established that the structural composition of the economic security system is formed by domestic and non-industrial components. Many nonproduction components of economic security of enterprises are provided, which include market and information. The main components of economic security of enterprises are generalized and their essence is determined, the services responsible for them are specified. A group of principles for building a system of economic security of enterprises: legality, systematic construction, economic feasibility, efficiency of management decisions, efficiency, cost optimization, validity, complexity, balance, timeliness, continuity, continuous monitoring, activity, coordination and interaction, centralization, integration, direction on strategic goals, objectivity, efficiency and dynamism, variability, adequacy of response, adaptability, flexibility of management, development and improvement, incentives and responsibilities. Key words: enterprise, economic security, economic security system of the enterprise, external and internal threats, national security
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Ліхоносова, Г. С., and О. І. Нецвітаєва. "МЕХАНІЗМИ БЮДЖЕТУВАННЯ ДІЯЛЬНОСТІ ПІДПРИЄМСТВА : МОЖЛИВОСТІ УПРАВЛІННЯ ФІНАНСОВОЮ БЕЗПЕКОЮ." TIME DESCRIPTION OF ECONOMIC REFORMS, no. 3 (October 18, 2019): 24–30. http://dx.doi.org/10.32620/cher.2019.3.03.
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Formulation of the problem. The article presents the author's opinion on the possibilities of using the mechanisms of budgeting the activity of the enterprise as tools of financial security management. The liberalization of financial relations and the free cross-border movement of capital led to the intensification of internal and external shocks on the development of economic entities. The purpose of the article is to study the theoretical aspects of the budgeting system as a tool for managing the financial security of an enterprise, in order to form a holistic view of budgeting as an economic category. The object of the study is the process of budgeting the activity of the enterprise, its organizational and economic capabilities and tools for managing the financial security of the enterprise. Methods used of the research: systematic approach, method of generalization, comparison, logical-meaningful method, monographic method, methods of induction and deduction, etc. The main hypothesis is that the financial stability of a functioning enterprise depends on the economic policy option, which is formed by the structure of the budgeting instruments of the enterprise. Presenting main material. The reasons for using this tool at the enterprise are revealed. The efficiency of the use of budgeting in the management of financial security of the enterprise is shown. Budgeting makes it possible to increase the financial soundness of management decisions and the effectiveness of information support of enterprise management; to differentiate between the leaders of different levels of the organizational hierarchy for results and to make a positive impact on their motivation; to agree on the different lines of activity of the units and the work of the enterprise as a whole on the basis of a single coordinated budget; improve current budgets by matching planned and actual indicators with results; to predict volumes of material and financial flows, cost structure. The originality and practical significance of the research. The basis of the mechanism of ensuring the financial security of the enterprise is a systematic combination of certain tools, methods, levers and information and analytical support, created on the basis of the principles of financial security, which objectively exist as economic laws, as well as produced by entities of financial security management of the enterprise to achieve and protecting the latter's financial interests. Conclusions of the research. The introduction of the entity's budgeting system enables the planning of financial and economic activities with the expectation of achieving a specific financial result and financial targets. Thus, budgeting is an effective tool for managing the financial security of an enterprise and acts as one of the main processes in the financial planning system.
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HERMAN, Rymma, and Yuliia DIDENKO. "Theoretical aspects of the controlling over an enterprise’s financial and economic activity." Economics. Finances. Law, no. 12/2 (December 28, 2019): 22–25. http://dx.doi.org/10.37634/efp.2019.12(2).4.
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Introduction. In a market economy, the control system is considered as an important tool for the successful activity of an enterprise. That is why the analysis of modern definitions of the “control” concept based on various key features together with the identification of their peculiarities is especially important and will help to identify the main ways to establish and to improve an effective controlling system. The purpose of the paper is to justify the theoretical aspects of the concept of control over the financial and economic activities of the enterprise. Results. The article is devoted to the investigation of the theoretical aspects of the concept of control over the financial and economic activities of an enterprise. Based on the systematization of the views of most authors, it was found that today there is no universally accepted definition of the concept of control over the financial and economic activities of an enterprise. Most researchers consider the concept of control based on different key features. As a result of a critical analysis of modern researches, the authors identified a set of advantages and disadvantages in the reviewed concepts of control over the financial and economic activities of an enterprise. According to the results of the study, it is determined the need for considering control over the financial and economic activities of an enterprise as a special scientific concept according to the research method of its specific subject. Conclusion. The economic content, the subject and the method are the common ground that unite all types of financial and economic control. However, each of these components, in its turn, has its own field of application and own specifics, which determine the classification of financial and economic control into types depending on its subjects. The variety of definitions of the concept of control shows the importance and at the same time the complexity of the reviewed concept. The main differences in the definitions of control are focused on the features of its types, since their characteristics make it possible to highlight the signs of a particular case, as well as the control itself. The generalization and systematization of the theoretical foundations on this issue has its practical value and will help to identify the main ways to improve and establish an effective control system.
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Измайлов, М. К. "ON THE EFFECTIVENESS OF METHODOLOGICAL APPROACHES TO THE ANALYSIS OF FINANCIAL AND ECONOMIC ACTIVITY OF RUSSIAN ENTERPRISES." Organizer of Production, no. 4 (February 9, 2022): 112–23. http://dx.doi.org/10.36622/vstu.2021.43.79.012.
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Введение. Статья посвящена научному обоснованию методических подходов к анализу финансово-экономической деятельности, а также исследованию основных проблем их использования в практике современных предприятий. В статье проведен анализ основных недостатков существующих методических подходов к проведению анализа финансово-экономической деятельности, закрепленных на законодательном уровне. Осуществлен подробный анализ профессиональных источников относительно направлений анализа финансово-экономической деятельности предприятия и методик его проведения. Сделан вывод о том, что для своевременного выявления «узких мест» в финансово-экономической деятельности предприятий нужен такой подход к анализу, который полностью осветит проблемные места в финансовой деятельности предприятия и поможет определить причины возникновения этих проблем. Данные и методы. Информационной базой исследования выступили научные труды российских и зарубежных ученых-экономистов, посвященных исследованию вопросов анализа финансово-экономической деятельности предприятия, законодательные акты, осуществляющие регламентацию порядка его проведения. В ходе написания статьи были также использованы материалы периодической печати. Для достижения поставленной в работе цели использованы следующие методы исследования: абстрактно-логический - для теоретического обобщения и формирования выводов; графический и табличный метод - для наглядного представления результатов исследований и общенаучные методы теоретического обобщения и сравнительного анализа. Полученные результаты. Авторами в целях осуществления анализа финансово-экономической деятельности предприятий предлагается использовать методический подход на основе интегрального показателя финансово-экономической деятельности предприятия. В соответствии с рассчитанным количеством баллов предложен вариант определения интегрального уровня финансово-экономической деятельности предприятия. Разработана модель шкалы, включающая шесть категорий состояния финансово-экономической деятельности предприятия - от кризисного до стабильного. Заключение. Предложенный методологический подход позволяет обеспечить объективную оценку финансово-экономической деятельности предприятия, поскольку при расчете интегрального показателя были учтены не только показатели структуры капитализации организации, но и показатели эффективности управления краткосрочными (оборотными) активами, что очень важно в условиях недостаточности финансовых ресурсов. В практическом аспекте изложенный в статье методологический подход может применяться в деятельности предприятия в целях проведения периодического мониторинга финансово-экономической деятельности и принятия своевременных управленческих решений, направленных на устранение выявленных противоречий и недостатков. Introduction. The article is devoted to the scientific substantiation of methodological approaches to the analysis of financial and economic activity, as well as the study of the main problems of their use in the practice of modern enterprises. The article analyzes the main shortcomings of the existing methodological approaches to the analysis of financial and economic activity, fixed at the legislative level. A detailed analysis of professional sources regarding the directions of the analysis of the financial and economic activities of the enterprise and the methods of its implementation has been carried out. It is concluded that in order to timely identify "bottlenecks" in the financial and economic activities of enterprises, such an approach to analysis is needed that will fully illuminate the problem areas in the financial activities of the enterprise and help determine the causes of these problems. Data and methods. The information base of the research was the scientific works of Russian and foreign scientists-economists devoted to the study of the analysis of the financial and economic activities of the enterprise, legislative acts regulating the procedure for its conduct. In the course of writing the article, materials from the periodical press were also used. To achieve the goal set in the work, the following research methods were used: abstract-logical - for theoretical generalization and drawing conclusions; graphical and tabular method - for visual presentation of research results and general scientific methods of theoretical generalization and comparative analysis. The results obtained. In order to analyze the financial and economic activity of enterprises, the authors propose to use a methodological approach based on an integral indicator of the financial and economic activity of the enterprise. In accordance with the calculated number of points, a variant of determining the integral level of financial and economic activity of the enterprise is proposed. A scale model has been developed that includes six categories of the state of financial and economic activity of the enterprise - from crisis to stable. Conclusion. The proposed methodological approach makes it possible to provide an objective assessment of the financial and economic activity of the enterprise, since when calculating the integral indicator, not only the indicators of the capitalization structure of the organization were taken into account, but also the indicators of the effectiveness of the management of short-term (current) assets, which is very important in conditions of insufficient financial resources. In practical terms, the methodological approach described in the article can be applied in the activities of an enterprise in order to conduct periodic monitoring of financial and economic activities and make timely management decisions aimed at eliminating the identified contradictions and shortcomings.
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Lavryk, Oleksandr, and Kostyantyn Kotlyar. "ANALYSIS OF FOREIGN ECONOMIC ACTIVITY OF THE ENTERPRISE." Economic Analysis, no. 28(4) (2018): 200–205. http://dx.doi.org/10.35774/econa2018.04.200.
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Introduction. The research considers theoretical and methodological aspects of the analysis of the foreign economic activity of the enterprise, the analysis of the environment and the results of foreign economic activity and the development of directions for improving the analytical support of the foreign economic activity of the enterprise in modern conditions. The content and peculiarities of the foreign economic activity of the enterprise are considered in the article. The description of the methods of quantitative analysis of the foreign economic activity of the enterprise is given. The methods of qualitative analysis of the foreign economic activity of the enterprise are investigated. Purpose. There are aims to research the theoretical and methodological aspects of the analysis of the foreign economic activity of the enterprise, the analysis of the environment and results of foreign economic activity and the development of directions for improving the analytical support of foreign economic activity in modern conditions. Method (methodology). The estimation and analysis methods of risks and financing efficiency, the estimation of financial and economic performance, statistical methods have been used to solve the tasks of the research. Results. The project proposes the use of competitive intelligence tools in the world markets as a way of improving the analytical support of foreign economic activity of company. The directions of using Big Data software tools for studying the world markets of agro products have been developed. The effectiveness of the proposed measures has been substantiated.
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Danilova, Elvira. "ASSESSMENT OF ECONOMIC SECURITY OF REALIZATION OF ECONOMIC POTENTIAL OF AIR TRANSPORT ENTERPRISES." Economic Analysis, no. 30(1, Part 1) (2020): 50–56. http://dx.doi.org/10.35774/econa2020.01.01.050.
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In the article is analysed the scientific views on the economic essence of the concepts "economic potential", "state of use of economic potential" and "economic security of use of economic potential". The author's understanding of the concept of "economic security of realization of economic potential" is given, the components and indicators of estimation of financial and production potential of aviation enterprise are defined. The state of liquidity, solvency, business activity of air transport enterprises of Ukraine (PJSC "Motor Sich", PJSC "International Airlines of Ukraine" and others in the period from 2015 to 2018) was assessed as components of the set of resources that form the economic potential of future enterprise development. Goal. The purpose of the article is to assess the economic security of the economic potential of airlines of Ukraine on the basis of resource-functional approach, analysis of indicators of financial and production potential of the air transport company. Method (methodology) of work. To assess the economic potential of airlines, a system of indicators for assessing the components of economic potential (production, financial, personnel, information, management, marketing and marketing) was used. Results. As a result of studying the essence of the concept of economic potential revealed its ability to reflect the achievability of economic security criteria, which gives grounds to consider the use of the concept of economic potential to reflect the state of economic security of the enterprise. Assessment of economic security of realization of economic potential of air transport enterprises allowed to draw a conclusion that the majority of airlines of Ukraine work in a zone of risk and critical danger.
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Kandyral, O. "ECONOMIC ANALYSIS AS A METHOD FOR DETERMINING THE EFFECTIVE FINANCIAL SITUATION OF THE ENTERPRISE." Criminalistics and Forensics, no. 64 (May 7, 2019): 763–71. http://dx.doi.org/10.33994/kndise.2019.64.71.
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The article analyzes the issues and problems of conducting an economic analysis in order to determine the actual financial condition of enterprises and prevent the possibility of bankruptcy. An assessment of the importance of timely diagnosis of the actual financial condition of an enterprise and of an economic analysis of the financial prerequisites of a possible bankruptcy of an enterprise under current market conditions is made. Also the concept of “bankruptcy” and “insolvency” of the enterprise in accordance with the current legislation of Ukraine are described. As world practice shows, bankruptcy of an enterprise is not an accidental phenomenon, but a consistent pattern which can be detected and eliminated in a timely manner. The most common methodological approach to diagnosing the state and the threat of bankruptcy is the coefficient approach which involves the use of a list of special financial ratios-indicators of an enterprise — relative indicators calculated by comparing certain absolute measures of economic activity with one another. The author reviewed the classical models of economic express analysis of the financial condition of the company to identify possible bankruptcy, developed by American scientists, economists William Beaver and Edward Altman. Depending on the values of indicators of these models, an assessment was made of the degree of proximity of a business entity to bankruptcy. Advantages and disadvantages of using these models in practice in the conditions of a modern market economy taking into account the specifics of the financial situation in Ukraine are described and analyzed. According to the results of the study, a list of measures for the exit of enterprises that are at risk of possible bankruptcy from the current unfavorable situations has been proposed. The author also concluded that further scientific developments on this topic are necessary and will be of interest both among scientists and among the participants of financial and economic relations. Key words: economic analysis, test method, enterprise, financial condition
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Nagorna, Iryna V., and Viktoriia I. Benchak. "Methodical Aspects of Comprehensive Analysis of Financial Viability of Enterprise." Scientific Bulletin of Mukachevo State University Series “Economics” 7, no. 2 (December 28, 2020): 108–16. http://dx.doi.org/10.52566/msu-econ.7(2).2020.108-116.
Full textAbstract:
Global changes in the economic environment, global processes of accounting standardization necessitate a revision of the theoretical foundations, future development of methodological approaches and guidelines for the formation of financial statements of Ukrainian enterprises. Qualitative economic information, collected and processed within the accounting system of a business entity for a reporting period, should provide the opportunity to make informed management decisions focused on optimizing the operation of an enterprise and its further development. Information, on the financial condition and results of a business entity is of interest to a wide range of participants in the business process. Based on the study of open reporting information, its users make important management decisions. That is why the issues related to the improvement of the presentation methodology and the use of financial statements are relevant. The article considers the role of a comprehensive financial analysis of an enterprise, provides theoretical and practical foundations for improving the methodology of financial reporting of an enterprise. The financial and economic activity of an enterprise on the example of the limited liability company “LEASING INVEST” was considered, the necessary calculations characterizing the financial condition of the enterprise were carried out. The analysis of the financial condition provides an opportunity to obtain an assessment, identify the causes and factors of the achieved state, prepare and justify management decisions. It plays an important role in ensuring effective management, is responsible for the selection, evaluation and interpretation of financial, economic and other data that affect the financial decision-making process
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Romanova, Svetlana. "Financial results of pharmaceutical industry: 2020." Remedium, no. 3 (December 1, 2021): 81–86. http://dx.doi.org/10.21518/1561-5936-2021-3-81-86.
Full textAbstract:
Financial status is the most important characteristic of the economic activity of the industry enterprises, which determines its economic attractiveness. Let us consider a set of indicators reflecting the availability, placement and use of financial resources of enterprises in the industry.Financial status of pharmaceutical companies is analysed using the data form State Statistical Reporting Form No. P-3 – Information on Company Financial Status.