scholarly journals Defining the Essence of the Concept of “Financial Security of Enterprise” and Threats to It

2021 ◽  
Vol 3 (518) ◽  
pp. 87-93
Author(s):  
M. O. Haidukov ◽  
◽  
O. S. Shumilo ◽  
Keyword(s):  
Development Strategy ◽  
Business Processes ◽  
Financial Security ◽  
Labor Costs ◽  
Financial Strategy ◽  
Financial Condition ◽  
Current Period ◽  
The Status ◽  
Financial Interests

The essence of the concept of «financial security of enterprise» and threats to it is researched; their classification is provided. According to the results of a comparative analysis of the scholars’ definitions regarding the concepts of «financial security of enterprise» and «threats to the financial security of enterprise», the authors’ own definitions are presented. Financial security of enterprise is considered as an instrument that ensures the sustainability and security of enterprise in the process of implementing its development strategy from the internal and external factors, threats both in the current period of activity and in the future. A threat is a course of events of an external or internal nature, which affects the financial condition of enterprise and entails consequences of varying degrees of severity, the solution of which will require financial, time, labor costs. According to the results of the study of scientific definitions on the essence of financial security of enterprise, some features are allocated. Financial security of enterprise is understood by the authors as: a component that allows choosing and implementing a financial strategy; the ability of enterprise to independently develop and conduct a financial strategy; the result of managed processes, which ensures the acquisition to some extent of its financial freedom; the state of protection of financial interests of enterprise; the financial condition of enterprise; the ability to create and maintain financial conditions at the enterprise; the status of financial security with the ensured business processes. The authors’ own classification of threats according to a number of signs and types is suggested and considered: by the place of origin, by the type of origin system, by the degree of losses, by the possibility of forecasting, by the prospect of impact, by the stability of influence, by the consequences of influence, by the fact of influence, by the threat subjects, by the type of disasters. The research of the essence of financial security of enterprise and threats to it has displayed the complexity and diversity of these concepts. This is evidenced by an extensive range of definitions, each of which has its own characteristics. It should also be noted the absence of a unified classification of threats to financial security.

scholarly journals Methodological Aspects Concerning Evaluation of the Financial Stability of Companies in the Crisis Economy Conditions

2020 ◽  
Vol 8 (16) ◽  
pp. 513-527
Author(s):  
Elena V Levkina ◽  
Zhanna I Lyalina ◽  
Ekaterina A Kurasova
Keyword(s):  
Economic Crisis ◽  
Russian Federation ◽  
Financial Stability ◽  
Financial Condition ◽  
Current Period ◽  
Doing Business ◽  
The Status ◽  
The Russian Federation ◽  
Methodological Aspects ◽  
A Company

The financial stability of a company is one of the most important criteria for assessing the situation of enterprises both for the current period and for subsequent periods of functioning. Of course, every enterprise wants to have business liquidity, otherwise the basis of entrepreneurship collapses; however, the purpose of doing business is to make a profit. An enterprise can make good profits, but at the same time have large liabilities, that is, debts. In this case, it is difficult to call the company financially stable. The onset of the economic crisis in the Russian Federation only prompts the conduct of such studies. Firstly, because it is necessary to understand how the situation in the country's economy as a whole affects a single enterprise, and secondly, what the prerequisites for this influence can be noticed in advance and how to try to prevent them. The relevance of this study lies in the fact that today in Russia there are a number of difficulties with assessing the status of organizations and their adequate comparison with reality. There are many different methods for assessing the financial condition and, in particular, the financial stability of a company. However, when choosing one of them, it is necessary to consider them in order to identify the shortcomings of their application to certain market conditions. Identification of these disadvantages of different theories will allow us to competently and reliably analyse the financial condition of various companies. It is also worth noting that this topic is relevant not only for the companies themselves. The presence of positive dynamics of financial stability indicators as an integral part of the financial condition of the enterprise is one of the most important bases of investment attractiveness. Therefore, not only a company itself is interested in such studies in the inside, but also other market entities from the outside.

scholarly journals FACTOR ANALYSIS OF THE FINANCIAL ACTIVITY OF KOZYATYNSKY MEAT PLANT: ROLE IN DETERMINING THE FINANCIAL STRATEGY

2021 ◽  
Author(s):  
Oksana Adler ◽  
Anastasia Korol
Keyword(s):  
Factor Analysis ◽  
Development Strategy ◽  
Economic Activity ◽  
Net Income ◽  
Financial Strategy ◽  
Financial Condition ◽  
Products Analysis ◽  
Promising Area ◽  
Main Factors ◽  
Definition Of

The article discusses factor analysis of a financial condition of the enterprise is carried out and the general estimation of efficiency of its economic and economic activity is carried out. A general assessment of the efficiency of economic and economic “Kozyatyn Meat Factory” was made, namely the dynamics of profit, cost, net income and net financial result for the period 2017-2019 were monitored. An analysis of changes in return on assets, equity and fixed capital, current liquidity ratios, solvency, financial debt and independence of the enterprise is also presented. The analysis made it possible to conclude on the current financial condition of the enterprise, as well as to determine the main factors that will determine the further strategy of its development. Also in addition, it is established that the definition of the financial strategy of the enterprise can be based only on the analysis of its economic activity, in particular a system of indicators that will establish the current situation of the main financial indicators of “Kozyatyn Meat Plant”, their dynamics for a certain period. In connection with the specifics of the enterprise, we believe that the main indicators that determine the further financial strategy of its development are indicators of the company's profit, as well as indicators of its sales within the industry and market. To this end, a factor analysis of the company's profit from the main factors of sales of its products; analysis of indicators of efficiency of use of fixed assets; analyze the dynamics of production of marketable products of the enterprise within the industry. According to the results of the analysis, it is established that today the company uses a financial strategy that can ensure the adaptation of the enterprise to environmental conditions, reduces the risks of work - that is, the stabilization strategy. In this regard, the next step for the company is to focus its efforts on expanding its market position, is a promising area to choose a financial development strategy that will increase the efficiency of the company - its financial results.

scholarly journals Determining the Financial Strategy of the Confectionery Industry Enterprise When Analyzing Its Financial Sustainability

2021 ◽  
Vol 2 (517) ◽  
pp. 286-292
Author(s):  
H. O. Rohanova ◽  
◽  
V. V. Yaryna ◽  
Keyword(s):  
Development Strategy ◽  
Matrix Analysis ◽  
Financial Sustainability ◽  
Financial Strategy ◽  
Cash Flow Management ◽  
Financial Condition ◽  
The Matrix ◽  
Strategic Goals ◽  
The Right ◽  
The Impact

The article is aimed at applying the Franchon and Romane matrix at the food industry enterprise within the terms of a comprehensive analysis of the enterprise’s financial sustainability and equilibrium. Analyzing and systematizing the scientific works of many scholars, the evolution of approaches to the financial strategy of enterprise was considered and it was specified that the construction of the matrix of strategies according to Franchon and Romane makes it possible to respond timely to the need to change the financial strategy depending on the change in the conditions of its activities. To achieve the goal, the research had to solve the following tasks: determining the algorithm for calculating the financial indicators of the matrix; their calculation for the last five years of activities of the researched enterprise; determining on their basis the type of financial strategy; determination of factors influencing financial strategies; development of measures to improve the financial condition by changing the financial strategy. The object of research is PrJSC «Vinnytsia confectionery factory» («Roshen»). The matrix analysis of the company’s activities for 2015-2019 allowed to determine the further trajectory of the enterprise’s development. The indicators of economic activity of the enterprise led to an increase in financial potential, but at the same time there is an obvious limitation of the current development strategy. The obtained results as to determining the financial strategy are justified by a preliminary analysis of the financial condition. The application of the strategy matrix enables the enterprise to make the right decisions on the complex use of all financial resources aimed at achieving both the current and the strategic goals in a timely manner. Prospects for further research are to determine the impact of the quality of the company’s cash flow management on its liquidity and solvency.

scholarly journals Analysis of theoretical and methodological approaches to determining the concept of "customs regimes"

2021 ◽  
Vol 2 (99) ◽  
pp. 361-372
Author(s):  
S. Iu. Sokoliuk ◽  
◽  
O. S. Tupchiу ◽  
O. V. Zharun
Keyword(s):  
Economic Activity ◽  
The State ◽  
National Interests ◽  
Economic Relations ◽  
The Status ◽  
Financial Interests ◽  
Characteristic Features ◽  
National Industry ◽  
Definition Of

The article analyzes the concept of "customs regime", characteristic features are formulated, main elements, goals and functions of customs regimes in the development of foreign economic relations. The classical classification of customs regimes under the Customs Code of Ukraine is substantiated. Based on the analysis, a position on the study concept is substantiated, the interpretation of the category "Customs regimes" is provided. The conducted research confirms that under the customs regime, we understand the set of customs procedures that establish the rules for moving goods through the customs border of Ukraine and their further use in order to ensure the interests of the state in the customs sphere. The functions of customs regimes are analyzed: fiscal, which finds its implementation in the collection of customs payments in order to ensure the financial interests of the state in foreign economic activity; stimulating, implemented by exempt from customs taxation and the use of non-tariff regulation, simplification of customs procedures in order to stimulate subjects of foreign economic activity, promoting the development of a national economy, etc.; protective, which involves the use of non-tariff regulatory measures and aims to protect the economic and other national interests of the state by introducing a licensing, quota and other non-tariff restrictions when placing goods in customs regimes; control - aimed at ensuring compliance with the norms of the current legislation of Ukraine in the customs sphere, which is implemented through specific methods and forms inherent in control in the field of public administration; the regulatory, purpose of which is to regulate the order of action when placing the goods in the customs regime associated with the direction of movement of goods through the customs border, the definition of the status of goods and operations with it, etc. According to the results of generalization, the study is substantiated by the classification of customs regimes, which includes: a) the main (import (issue for free circulation) and export) as customs regimes aimed at ensuring the state's financial interests in foreign economic activity; protection of its economic and other national interests; b) preferential customs regimes (transit, customs warehouse, free customs zone, temporary import of goods to customs territory and exports at its boundaries, processing in customs territory and abroad), the purpose of applying which is to stimulate the subjects of foreign economic activity of the state, development of the national industry, promoting international trade, economic relations and relationships in the humanitarian sphere; c) special customs regimes (Repimport, re-export, duty-free trade, destruction or destruction and refusal of the state) that are not provided for by the European Union's customs law and in its essence or are auxiliary, or such that define certain signs of goods.

scholarly journals THE THEORETICAL BASIS OF ENTERPRISE FINANCIAL SECURITY AND THE MECHANISM OF ITS MANAGEMENT

2019 ◽  
pp. 80-87
Author(s):  
N. Pihul ◽  
A. Khomutenko
Keyword(s):  
Financial Analysis ◽  
Security Analysis ◽  
Security Management ◽  
Economic Security ◽  
Point Of View ◽  
Complex Nature ◽  
Financial Security ◽  
Financial Activity ◽  
Financial Condition ◽  
Financial Interests

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.

scholarly journals On a New Approach to Formation of a Strategy of Developing Small Businesses

2019 ◽  
Vol 29 (3) ◽  
pp. 484-490
Author(s):  
Boris Turenko ◽  
Tatyana Turenko
Keyword(s):  
Development Strategy ◽  
Small Businesses ◽  
Point Of View ◽  
Small Enterprises ◽  
Financial Strategy ◽  
Strategy Formation ◽  
New Approach ◽  
Points Of View ◽  
Further Development

An enterprise operating in terms of market economy must always set itself the task of further development and improvement in order to be successful and competitive. To solve this problem, it is necessary to produce a development strategy. This problem is all the more relevant for small enterprises, which find it more difficult than large enterprises to survive in the competition. Therefore, small businesses face the task of developing and implementing such a strategy for their development, which allows them to clearly define their goals and outline the ways to achieve them. The article considers various points of view on the concept of «strategy», the classification of strategies that exist in the scientific literature, including those applied to small businesses, brings forth the authors' point of view on this concept. It pays a particular attention to the proposed approach to the process of strategy formation and the mechanism of its implementation in relation to small businesses. It makes a conclusion that on the basis of the systematic approach the strategy under development should be comprehensive and include such elements as marketing, product, production, personnel, management, financial strategy and risk strategies. It brings forth a description of the content of each element. It examines an algorithm for developing an integrated strategy for development of small businesses, as well as a mechanism for implementing the strategy.

ASSESSMENT OF THE COMPANY'S FINANCIAL SECURITY

2020 ◽  
Author(s):  
Юлия Сергеевна Холопова ◽  
Алексей Георгиевич Ильмушкин
Keyword(s):  
Economic Security ◽  
Competitive Environment ◽  
Main Element ◽  
Financial Security ◽  
Financial Condition ◽  
Financial Interests ◽  
The Stability

Финансовая безопасность предприятия - основной элемент экономической безопасности. Именно от нее зависит стабильность работы организации, ее финансовые интересы, возможность развития и роста в условиях жесткой конкуренции. В статье определено интегральное значение финансовой безопасности конкретного предприятия, сформулированы приоритетные направления укрепления его финансового состояния. Financial security of an enterprise is the main element of economic security. It determines the stability of the organization, its financial interests, and the possibility of development and growth in a highly competitive environment. The article defines the integral value of the financial security of a particular enterprise, and sets out priority directions for strengthening its financial condition.

ACCOUNTING SUPPORT OF BALANCED SCORECARD OF ENTERPRISES OF HOUSING AND COMMUNAL ECONOMY

2017 ◽  
Author(s):  
Tetyana Kaminska ◽  
Keyword(s):  
Development Strategy ◽  
Balanced Scorecard ◽  
Business Processes ◽  
Service Providers ◽  
Technical Condition ◽  
Financial Indicators ◽  
Labor Costs ◽  
Use Of Resources ◽  
Fixed Assets ◽  
The Impact

The branch features of the enterprises of housing and communal economy are investigated, that to define necessity of application of advantage of system of the balanced indicators at an estimation of efficiency of their activity. The following advantages of application of the system of balanced indicators are established: expands the information base for calculation of the indicators characterizing efficiency of use of resources; provides information on the depreciation of fixed assets and the organization of the production process; discloses the costs of maintenance, training, retraining and social security of staff; identifies the reasons for non-performance of contractual relations by consumers and service providers. We believe that the shortcomings of the system of balanced scores are: the lack of regulations governing the calculation of the procedure and the threshold values of non-financial indicators for further interpretation; the content of the system of balanced scores can be interpreted differently by different groups of users (consumers, employees, management, investors) depending on the chosen development strategy; requires additional costs and additional professional competencies from management staff for implementation; does not show the impact of accounting policies on financial and non-financial indicators; is subjective. The division of efficiency indicators in terms of financial component (allows to estimate reserves for cost reduction, increase profit and profitability), customer (determines the causes of receivables, allows to identify consumers who were provided with incomplete or inadequate quality of housing and communal services), business processes (technical condition of fixed assets, the number of complaints received from consumers and the period during which the elimination of deficiencies, the cost of resources to improve the condition of services provided), staff (compliance of staff qualifications and labor costs). The order of choosing the strategy of development of the enterprise of housing and communal services depending on its purposes (increase of incomes on the basis of rendering of qualitative services, expansion of the range of services, advanced training of the personnel, management of receivables) is outlined.

scholarly journals IMPROVEMENT OF THE MODEL OF USING ANALYTICAL PROCEDURES AT INTERNAL AUDITING OF A BANK

2019 ◽  
Vol 4 ◽  
pp. 16-23
Author(s):  
Oksana Dolinska
Keyword(s):  
Internal Control ◽  
Business Processes ◽  
Theoretical Aspect ◽  
International Standards ◽  
Internal Auditing ◽  
Financial Condition ◽  
Managerial Decisions ◽  
Analytical Procedures ◽  
Definition Of

From 2014 the number of banks in Ukraine essentially decreased from 180 to 76 for 01.07.2019. The unstable situation was traced in the country for this period of time. Liquidation of 104 banks demonstrated that they couldn’t manage their risks and make correct managerial decisions timely, and also the system of internal control functioned badly. Just this system includes a subdivision of internal auditing that didn’t cope with timely revelation of inexactitudes, so reasonable recommendations as to managerial decisions weren’t elaborated. For providing functions of internal auditing of a bank, the subdivision uses auditing procedures. They include analytical procedures that, in their turn, are principal for attaining aims of an auditing task. The article considers most urgent questions of using analytical procedures in internal bank auditing. The essence of the definition of “analytical procedures” has been considered and specified. Analytical procedures have been separated from the composition of auditing ones, and their theoretical aspect has been analyzed. The classification of methods of analytical procedures has been analyzed for getting auditing evidences. Analytical procedures consist of methods of internal system estimation and bank financial condition analysis and also analysis of their business-processes. Advantages and defects of methodical components of analytical procedures have been presented and analyzed. The stages of an auditing task have been studied. Analytical procedures are considered at three stages of internal auditing: planning, performing the engagement and resulting, demonstrated through the prism of economic analysis. International standards of the professional practice of internal auditing that regulate it are considered. Questions of working papers that generalize a result of using analytical procedures are separated.

scholarly journals Cybersecurity as factor of financial security of the enterprise

2020 ◽  
pp. 31-35
Author(s):  
Oksana MAKOVETS ◽  
Iryna DROZD
Keyword(s):  
Cyber Security ◽  
Personal Data ◽  
Business Environment ◽  
Economic Security ◽  
Financial Security ◽  
Security Measures ◽  
Cyber Threats ◽  
Financial Condition ◽  
It Systems ◽  
Financial Interests

Introduction. As a component of the business environment the information environment is characterized by significant cyber threats and requires cyber protection. The processes of Ukrainian society digitalization and changes in providing the information security update the enterprise's financial security measures and their connection with cybersecurity. The purpose of the paper is to analyze the essence of cybersecurity as a factor of the enterprise's financial security and to identify its impact on the investment attractiveness of the business entity. To achieve the purpose the task is to explore the concepts of financial security, cybersecurity and cyber threats, to identify their relationship and impact on business' financial losses of the, the consequences for the enterprise's investment attractiveness. The study will provide information on business management and plan effective policies to combat cyber threats. Results. The essence of enterprise's financial security is investigated. There are three approaches in identifying the essence of this concept, including as part of the enterprise's economic security, as the state of the most effective use of information, financial indicators and as its financial condition level, which provides stable protection of priority balanced financial interests from real and potential external and internal threats. These definitions are used to substantiate the connection with the concepts of cyber threat and cyber security. The areas of possible losses based on the losses assessment due to cyber threats are identified by the authors, namely the intellectual property loss, the business information loss, the IT systems' continuity disruption, the reputation damage as a result of the attack, the automated personal data loss. Conclusion. It is concluded that the necessary measures of cybersecurity, protection of enterprises' information resources and prevention of unauthorized interference in the enterprises' activities, which has a positive effect on investment attractiveness and increases the enterprises' competitiveness.

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