Assessing the financial potential of organizations in the context of professional standard ‘Accountant’

2021 ◽  
Vol 14 (4) ◽  
pp. 407-432
Author(s):  
Irina A. ASTRAKHANTSEVA ◽  
Irina N. KOYUPCHENKO ◽  
Aleksandra A. TERSKIKH
Keyword(s):  
Financial Management ◽  
Systems Approach ◽  
Analytical Models ◽  
Rational Approach ◽  
Financial Strategy ◽  
Economic Relations ◽  
Business Plans ◽  
Finance Management ◽  
Economic Entity ◽  
Potential Formation

Subject. The article addresses the financial potential of the organization, investigates economic relations stemming from financial potential formation and prospects for its growth as a result of actions and initiatives of managerial staff. Objectives. The aim is to disclose the content of the rational approach in financial and analytical studies focused on expressing the analytical value of qualitative and quantitative determination of financial potential in the process of substantiating management decisions on achieving competitiveness and long-term efficiency of economic entity. Methods. The study rests on modern theories of capital structure, methods for developing financial strategy, solving multi-criteria economic problems, including ranking techniques, the graphical and analytical models. Results. We developed methodological recommendations for financial potential assessment, which include the indicators of strategic level of investment capital management based on the systems approach to the use of financial, strategic and investment analysis tools. Their application in practice will increase the informativeness of potential assessment. The findings have an applied focus aimed at professional competencies in the development of organizational and administrative documents that regulate the analysis and assessment of financial potential based on strategic goals. Conclusions. Along with the existing methods, the methodological recommendations form a subsystem of analytical support focused on the organization’s value and finance management. Their use in financial strategy formation enables to identify and study strategic alternatives of development, create financial sections of business plans, justify adjustments to the strategy and tactics of financial management.

Specifics of strategic financial planning of enterprise activity in the digital economy

2020 ◽  
Vol 26 (3) ◽  
pp. 499-507
Author(s):  
P.A. Levchaev ◽  
B. Khezazna
Keyword(s):  
Strategic Planning ◽  
Financial Planning ◽  
Financial Management ◽  
Digital Economy ◽  
Economic Life ◽  
Corporate Management ◽  
Economic Relations ◽  
Digital Era ◽  
Analysis And Synthesis ◽  
Corporate Management System

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.

Features of financing the production of intellectual product of transnational corporations

2021 ◽  
pp. 69-75
Author(s):  
Svitlana Frunza ◽  
Liudmyla Romaniuk ◽  
Daria Nasypaiko
Keyword(s):  
Research And Development ◽  
Multinational Corporations ◽  
Strategic Alliances ◽  
Financial Management ◽  
Transnational Corporations ◽  
Multinational Companies ◽  
Economic Relations ◽  
Global Innovation ◽  
Innovation Economy

The purpose of the article is to study the features of financing the production of intellectual products of multinational corporations in the context of globalization. Research methodology – system-structural and comparative research (to understand the logic of financing the production of intellectual products of multinational corporations), statistical and economic analysis (in assessing the status and prospects of the role of transnational corporations). The scientific novelty is to substantiate the peculiarities of financial management in multinational companies and to determine the main aspects of international financial management, which will increase the production of intellectual products of multinational corporations and the development of international economic relations. The article identifies the distinctive features of modern multinational companies and technologically sound strategies that contribute to their economic success. The main ways to obtain long- term investments and the peculiarities of the formation of strategic alliances and their agreements are clarified. Various forms of international cooperation are considered. Conclusions. According to the results of the study, it was concluded that the role of transnational corporations is growing, which is determined by their participation in world gross domestic product, increasing the share of international movement of capital, labor and other resources. Their importance in the world economy is evidenced by the scale of foreign operations in all sectors and areas of social production. The main obstacles to the financing of multinational corporations are the disagreement of the interests of companies and governments of the host countries, taking into account economic, political, monetary, financial and legal risks. Ukraine is able to use the model of open innovation networks as a key to entering the global innovation economy in line with current trends. Keywords: transnational corporations, transnationalization, investments, innovations, research and development, research and development works.

Principles of strategic financial management and their implementation in the information economy

2021 ◽  
Vol 27 (12) ◽  
pp. 2772-2784
Author(s):  
Anna P. GAVRYUSHENKO
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Financial Management ◽  
Systems Approach ◽  
Information Economy ◽  
Legal Doctrine ◽  
Doctrinal Development ◽  
Russian Version ◽  
Management Objectives ◽  
Current State

Subject. This article discusses the general principles of strategic management in relation to strategic financial management. Objectives. The article aims to substantiate and formulate the principles of strategic financial management applicable in the conditions of the Russian version of the information economy, corresponding to the current documents of strategic planning and to the current state of the financial and legal doctrine. Methods. For the study, I used a systems approach, functional and structural analysis, retrospection, forecasting, observation, and classification. Results. The article reveals significant shortcomings of the current strategic planning documents, the lack of doctrinal development, as well as the normative consolidation of general and special principles, which could contribute to solving tasks by strategic financial management effectively. Conclusions. The general principles of strategic management in the economy as a whole are applicable and can be used as the basis for strategic financial management.

scholarly journals Modern financial control of operations at the enterprise: its essence and features

2020 ◽  
pp. 10-14
Author(s):  
Kseniia KOVTUNENKO ◽  
Kateryna BONDARENKO
Keyword(s):  
Public Finance ◽  
Financial Management ◽  
Internal Audit ◽  
The State ◽  
External Control ◽  
Financial Control ◽  
Finance Management ◽  
Current State ◽  
Role Of The State ◽  
Local Resource Management

The purpose of the paper is to improve institutions and legislation on public finance management in Ukraine, to define the concept of "financial control", to consider the process of development and formation of financial control, to highlight the financial control`s features, to justify the need for long-term financial control. Financial control and financial management in the enterprise are very important for every state. The current state of economic improvement in Ukraine should increase the role of the state in regulating the economy in order to identify differences between the law, recognizing the standards and functioning of financial control. At the present stage in Ukraine, the issue of establishing unification of public finance management remains unresolved: there is a discrepancy in state legislation. The Ukrainian economy`s growth leads to an additional need for financial control in a moment. Thus, its role and importance in securing the assets of different types of members’ organizations, the equipment`s efficiency, labour and finance. The paper is devoted to the key issues of finding ways to ensure financial control in the organization and the regulatory framework in this area. The paper presents an overview of financial control by state (local) resource management and their use, as well as financial control of public administration by the state external financial regulator (audit), the Ministry of Finance on behalf of the Verkhovna Rada of Ukraine, and public finance management, including internal management and internal audit, which are provided by current legislation. In the paper was presented a study of the financial control`s concept. The main types of financial control, its goals and objectives are researched. The author emphasizes the importance of the organization’s internal financial control and the key stages of its development. The types of external control and features of their application were also researched. In conclusion the Ukrainian financial management`s current state is researched.

scholarly journals Pengaruh Transparansi, Kompetensi, Dan Sistem Akuntansi Keuangan Terhadap Akuntabilitas Pengelolaan Keuangan Daerah Dengan Penerapan Sistem Pengendalian Internal Pemerintah Sebagai Variabel Moderasi

2021 ◽  
Vol 4 (2) ◽  
pp. 419-433
Author(s):  
Ria Herlina ◽  
Taufeni Taufik ◽  
Azwir Nasir
Keyword(s):  
Control System ◽  
Internal Control ◽  
Financial Management ◽  
Financial Accounting ◽  
Accounting System ◽  
Analysis Method ◽  
Accounting Systems ◽  
Finance Management ◽  
Internal Control System ◽  
The Government

This study aims to examine the effect of transparency, competency, financial accounting systems on the accountability of regional financial management with the government's internal control system as a moderating variable with a case study in Indragiri Hulu Regency. The population of this study were all employees in all OPDs in Indragiri Hulu Regency as many as 45 OPDs so that a sample of 180 respondents was obtained from this population using the purposive sampling method. The data analysis method used in this research is the quantitative analysis method with WarpPLS version 6.0 as data processing software. The results show that transparency, competency, and financial accounting systems affect the accountability of regional financial management, the implementation of the government internal control system can moderate the effect of transparency and financial accounting systems on the accountability of regional financial management, and the implementation of the government internal control system cannot moderate the effect of competency on the accountability of regional finance management. Keywords: Transparency, Competency, Financial Accounting System, The Accountability of Regional Financial Management, Implementation of The Government Internal Control System

scholarly journals Sistem Pendanaan Proyek Perusahaan Jasa Konstruksi Berbasis Web

2021 ◽  
Vol 6 (3) ◽  
pp. 121
Author(s):  
Hilyah Magdalena ◽  
Hadi Santoso ◽  
Litha Leonita
Keyword(s):  
Information System ◽  
Financial Management ◽  
System Development ◽  
Object Oriented ◽  
Project Finance ◽  
Web Based ◽  
Construction Company ◽  
Finance Management ◽  
The Status ◽  
Financial Management System

CV. Yusti Karya as a construction company realizes that the ability to manage project finances is an important requirement for smooth project management. CV.Yusti Karya often has to manage several projects simultaneously in remote locations. This condition makes it difficult for the finance staff in the office to manage project financial allocations and also makes it difficult for project managers in the field and must report the status of project expenditures to the office. This difficulty drives CV. YustiKarya improved the project's financial management system from using spreadsheets to a web-based information system. Web-based information system will be developed using object-oriented methods. The object- oriented system development method was chosen because of its modular development capabilities and adapts to system requirements. The development of this system aims to enable Person in Charge (PIC) projects in the field to submit expenditures and can be immediately approved by the financial staff in charge. Online project finance management between project PICs and finance staff helps harmonize financial management. The Director can monitor the flow of the latest project finance developments online.

scholarly journals ANALISIS STRATEGI PEMASARAN JAMUR TIRAM PUTIH (PLEUROTUS OSTREATUS) PADA USAHA DAGANG KENANGA DI KECAMATAN AMPENAN KOTA MATARAM

GANEC SWARA ◽  
2019 ◽  
Vol 13 (2) ◽  
pp. 375
Author(s):  
IDA AYU KETUT MARINI ◽  
IDA AYU NOPIARI ◽  
IDA BAGUS EKA ARTIKA
Keyword(s):  
Financial Management ◽  
Swot Analysis ◽  
Small And Medium Enterprises ◽  
Oyster Mushroom ◽  
Economic Entity ◽  
Technological Advances ◽  
Competitive Prices ◽  
Oyster Mushrooms ◽  
The Government ◽  
Medium Enterprises

   Micro, small, and medium enterprises (MSMEs) are one economic entity that continues to be encouraged by the government, because it can absorb labor, can reduce unemployment and also increase people's income   This research is carried out at UD Kenanga, which produces and markets oyster mushrooms in the city of Mataram. This research is a descriptive study that aims to determine marketing strategies. This research is analyzed by SWOT analysis.  The results show that UD Kenanga is strategically in quadrant II which shows that UD Kenanga is in a diversified strategy position. The conclusion of this study is the internal and external factors that influence the marketing strategy of white oyster mushrooms on UD. Kenanga consists of an affordable amount of capital, competent workforce, adequate product quality, strategic company location, competitive prices and able to produce their own seeds. Factors that become weaknesses are low production levels, not yet diversifying white oyster mushroom products, lack of a marketing system for white oyster mushroom products, limited production land, unprofessional financial management, no mushroom product promotion activities. Factors that become opportunities are broad market share, high purchasing power, government intervention, demand for oyster mushroom products is increasing, technological advances. Threatening factors are inter-company competition, changing seasons, consumer demands for quality mushroom products, rising fuel prices.   Suggestions for companies, to diversify the company's products By diversifying products, so as to increase new customers or consumers. For the government, to pay more attention to the needs of micro businesses, especially to increase activities or technical training related to white oyster mushroom products. 

scholarly journals CURRENT ISSUES OF PUBLIC FINANCE MANAGEMENT IN UKRAINE

2021 ◽  
Vol 5 (40) ◽  
pp. 135-144
Author(s):  
V. Marhasova ◽  
I. Ruzhytskyi ◽  
N. Tkalenko ◽  
T. Shestakovska ◽  
O. Mykhailovska
Keyword(s):  
Public Finance ◽  
Economic Development ◽  
Asset Management ◽  
Financial Management ◽  
Local Economic Development ◽  
Public Confidence ◽  
Financial Assets ◽  
Investment Funds ◽  
Financial Capacity ◽  
Finance Management

Abstract. The article describes the approaches to defining the essence of understanding «public finance» and «public finance management» in the context of administrative and financial decentralization. A study on the current state of economic development of Ukraine is carried and the public financial management system is analyzed. The dynamics of the ratio of revenues and expenditures of the State and local budgets is shown and the national and subnational levels in the financing of public expenditures are described. The sequence of achieving a new level of welfare of the population is presented and the ways of state influence on local economic development are outlined. The content of the state’s activity on financial resources management and public importance of finances is given. Particular attention is paid to the financial capacity of UTC and the existing positive developments within the decentralization reform in Ukraine. The need to improve the management of public finances was emphasized, as it was evidenced by the size of the budget deficit. The division of budget expenditures by functional classification between the national and subnational levels is presented and the decline of financial independence of subnational budgets is witnessed. An assessment of the level of confidence in financial asset management services of territorial communities based on the calculation of the relevant index is made, and the relationship between the selected indicators (the monetary expenditures of the population; deposits of individuals in investment funds; population savings; volume of capital investments; volume of investments in Ukraine; assets of investment funds) and the level of public confidence in the management of UTC financial assets is researched.  Keywords: financial management, public finance, financial capacity of territorial communities, financial assets. JEL Classification H70, H89, R59, Q01 Formulas: 1; fig.: 5; tabl.: 3; bibl.: 20.

scholarly journals The Influences of Competence and Motivation on Performance by Way of Reward as Moderating Variable (A Case Study in Regional Financial Management of Bulungan Regency Administration)

2017 ◽  
Vol 1 (1) ◽  
pp. 80
Author(s):  
Mochamad Hamzah ◽  
Rosidi Rosidi ◽  
Endang Mardiati
Keyword(s):  
Financial Management ◽  
Financial Incentive ◽  
Sampling Technique ◽  
Partial Least Square ◽  
Least Square ◽  
Regional Finance ◽  
Finance Management ◽  
Performance Incentive ◽  
Regional Performance ◽  
Analysis Mode

<p>This study aimed at analyzing and examining the influences of competence and motivation on the regional finance management performance using regional performance incentive/reward as  moderating variable. The employed analysis mode is PLS (Partial Least Square). The study was carried out at the regional work units in Bulungan. The sampling technique was purposive sampling. The results of this study indicates that competence and motivation variable positively influence the performance of regional financial managers. Performance financial incentive has yet to be proven to strengthen competence effect on the performance of regional financial managers, but it has proven to strengthen the influence of motivation on the performance of the regional financial managers. Thus, it can be concluded that the higher the competence and motivation of regional financial managers, the performance will increase. The employees’ motivation are increasing when policymakers reward them the incentive as an appreciation to achieve better performance.</p><p> </p><p><strong>Keywords </strong>  : competence, motivation, performance, regional performance incentive</p>

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