scholarly journals Methodological approach to economic analysis and control of enterprises under conditions of economic systems transformation

2021 ◽  
pp. 150-157
Author(s):  
A Viknianska ◽  
D Kharynovych-Yavorska ◽  
M Sahaidak ◽  
A Zhavoronok ◽  
V Filippov
Keyword(s):  
Economic Analysis ◽  
Development Strategy ◽  
Internal Control ◽  
Scoring System ◽  
Information Technologies ◽  
Business Processes ◽  
Methodological Approach ◽  
Complex Model ◽  
Integrated System ◽  
Systems Transformation

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.

Methodological Aspects of IT Audit As a Tool for Improving the Eff ectiveness of Internal Control

Auditor ◽  
2021 ◽  
Vol 7 (1) ◽  
pp. 25-29
Author(s):  
ZHanna Kyevorkova
Keyword(s):  
Internal Control ◽  
Information Technologies ◽  
Business Processes ◽  
Economic Entity ◽  
Key Issues ◽  
Modern Information ◽  
Organizational Activities ◽  
It Audit ◽  
Methodological Aspects ◽  
Data Audit

Th e article reveals the methodological aspects and key issues of data audit, tracked directly by programs using information technologies, the soft ware of which allows you to automate the organizational activities of an economic entity for the development of various business processes. Th e article reveals the author’s position of the practice of applying the results of IT audit and its directions at each stage of the audit, taking into account the audit procedures carried out, modern information technologies that allow internal control to work more eff ectively, analyze the functioning of IT audit, changes in the organization and develop scientifi cally based tools that allow IT audit to be rebuilt in accordance with changes in the situation in the activities of economic entities.

scholarly journals MODELLING THE SECURITY OF BUSINESS PROCESSES WHEN CREATING AND TRANSFERRING VALUES FOR STAKEHOLDERS

2021 ◽  
Vol 4 (39) ◽  
pp. 251-263
Author(s):  
N. Krasnokutska ◽  
H. Koptieva
Keyword(s):  
Internal Control ◽  
Business Processes ◽  
Methodological Approach ◽  
Jel Classification ◽  
Business Development ◽  
Business Process Modelling ◽  
Key Stakeholders ◽  
Wide Range ◽  
Development Processes ◽  
Environmental Interests

Abstract.The purposeof the recent study is to substantiate the directions and develop a methodological approach to modelling the security of business processes by their main types, considering the interests of stakeholders who receive value from interaction with the business.Business as an economic system is based on the significant number of transactions that can lead to different financial, material, informational losses, as well as reputational risks due to the lack of stakeholders’ trust. To prevent these losses when creating and transferring values for stakeholders we suggested the approach to modelling the security of business processes which takes into account their main types (main, auxiliary, managerial business processes and business development processes), the results (value created) that key stakeholders get at the output of these processes, and the indicators that reflect the criteria for modelling the security of business processes — efficiency, effectiveness, and quality (customer satisfaction with the result of the process — the recipient of value). Using the fuzzy set method, a map of identification of the security status of basic, auxiliary, managerial business processes and business development processes was developed, which allows to use a wide range of characteristics of business processes and linguistic variables to describe them (from «catastrophic» state to «very good») and allows you to model options for changing the strategy of the enterprise in order to avoid the risk of imbalance of economic, social and environmental interests of its stakeholders. The proposed approach was applied to retail chains in Ukraine and provided decision-makers with useful information for a better contribution of internal control systems to creating stakeholders’ value. Keywords: business process, modelling, security of business processes, security criteria, stakeholders, interests, values. JEL Classification D46, G32, L81 Formulas: 3; fig.: 2; tabl.: 5; bibl.: 20.

The practical specifics of compliance procedures as part of internal control of organizations' exports

2021 ◽  
Vol 22 (4) ◽  
pp. 459-486
Author(s):  
Vilena A. YAKIMOVA
Keyword(s):  
Control System ◽  
Internal Control ◽  
Business Processes ◽  
Methodological Approach ◽  
Control Program ◽  
Compliance Control ◽  
Business Operations ◽  
Control Procedures ◽  
Bona Fide ◽  
Contractual Obligations

Subject. The article discusses compliance procedures for improving the internal control system and accommodating to the specifics of exporting enterprises' financial and business operations. Objectives. The study is intended to formulate a methodological framework of compliance control to check whether exporting enterprises are compliant with financial laws. Methods. The study is based on the methods of comparison, checkerboard analysis, planning, classification, grouping, summary and systematization. Results. I formulated a compliance control program, which would account for the specifics of the exporting enterprise's financial and business operations, business processes of the exporting activity and compliance risk (associated with taxes, customs, currency, contractual obligations). The article enlists working papers needed to summarize results of tax, currency and accounting compliance procedures. I set forth a methodological approach based on the checkerboard analysis of reconciliation and comparison of export documents. Conclusions and Relevance. Exporting enterprises need the compliance control procedures to mitigate the probability of compliance risks and eliminate financial implications, such as fines, penalties for legislative and contractual breaches. Based on the proposed compliance procedure, the compliance control system will allow the exporting enterprise to gain a positive business reputation in the Russian and foreign distribution markets, and create an image of a bona fide and law-abiding taxpayer. The findings can be used to perform internal controls at exporting enterprises.

scholarly journals Regulations of corporate internal control based on performance assessment of the chief executive officer

2021 ◽  
pp. 21-33
Author(s):  
Larisa Kudin
Keyword(s):  
Performance Assessment ◽  
Board Of Directors ◽  
Development Strategy ◽  
Chief Executive Officer ◽  
Internal Control ◽  
Performance Indicators ◽  
Dynamic Capabilities ◽  
Methodological Approach ◽  
Chief Executive ◽  
Theoretical Approaches

The subject of this article is the corporate internal control processes. Internal control plays an important role in activity of the company and is based upon the principles of respecting the interests of all stakeholders, scope of the rights and obligations of shareholders, top managers and the board of directors. Since the chief executive officer is the key figure responsible for the implementation of development strategy, the goal of this research consists in working out the performance indicators of the CEO. The author explores the following theoretical approaches: system of balanced indicators, prism of performance, stakeholder theory, and theory of dynamic capabilities. Special attention is given to dependence of performance of the CEO to his compensation. For implementation of the effective mechanism of internal control, it is proposed to develop the performance indicators of the CEO, taking into account the interests of stakeholders: board of directors, investors, creditors, employees, clients, vendors, and company. In outlining the goals and tasks of activity of the chief executive officer, the expectations of the stakeholders should be considered. The author develops the matrix of key performance indicators for the CEO in the context of stakeholders. The scientific novelty consists in the proposed original methodological approach towards performance assessment of the chief executive officer, the peculiarity of which is lies in comprehensive application of the system of balanced indicators and comparative market efficiency of a corporation.

scholarly journals A methodology for applying modern information technologies in the economic analysis of organization's risks

2020 ◽  
Vol 19 (2) ◽  
pp. 268-285
Author(s):  
S. Mitrovic ◽  
V.P. Suits
Keyword(s):  
Risk Analysis ◽  
Economic Analysis ◽  
Mathematical Models ◽  
Internal Control ◽  
Information Technologies ◽  
The Self ◽  
Assessment Procedure ◽  
Economic Risk ◽  
Self Assessment ◽  
Modern Information

Subject. The article examines theoretical, methodological and practical aspects of applying modern methods and information technologies to improve the economic risk analysis of organizations. Special attention is focused on internal audit and control, in particular, on the self-assessment procedure, being an innovative tool for monitoring and assessing risks to identify and minimize them within the corporate governance system. Objectives. The purpose is to study possibilities for improving the methodology for economic risk analysis of organizations through modern information technologies, innovative tools, and mathematical models. Methods. The study rests on methods of quantitative, qualitative analysis, popular scientific and empirical research in the field of economic sciences, including comparative, structural and functional methods of economic analysis, the desk study, methods of expert assessments, situation analysis, statistical assessment, testing parameters, etc. Results. The offered methodology is aimed at risk assessment and risk analysis of organizations. The results of the study contribute to the implementation of new tools of internal control, audit and analysis, in particular, the self-assessment procedure and the coefficient of reliability of results, which have a positive impact on efficient risk management and the enhancement of investment appeal of organizations. Conclusions. The automation of the risk analysis process and selected procedures and techniques should create conditions for a logical transition to more accurate (as compared to currently prevailing in practice) quantitative measurement methods, and for building the mathematical models that make it possible to predict and obtain results based on empirical data rather than on expert estimates.

Post-crisis Structure of Economy and Organization of Coalitions for Innovations

2008 ◽  
pp. 25-43 ◽  
Author(s):  
L. Grigoriev ◽  
S. Plaksin ◽  
M. Salikhov
Keyword(s):  
Economic Policy ◽  
Development Strategy ◽  
Methodological Approach ◽  
International Comparisons ◽  
Soviet Economy ◽  
Institutional Changes ◽  
Russian Economy ◽  
Analytical Group

The article develops methodological approach to the analysis of groups of interests’ influence on the choice of Russia’s development strategy. It is possible to pass on to the analysis of specific issues of economic policy by forming several sub-groups in every "analytical" group. The article also considers the structure of Russian economy which was formed as a result of transformational crisis’ influence on Soviet economy, and relevant international comparisons. Main alternative ways of transition to innovational development are the renewal of Soviet "triangle economy" (the scenario "Mobilization") and complex institutional changes (the scenario "Modernization").

European experience of forming strategic directions of socio-economic development of the country

2019 ◽  
pp. 3-6
Author(s):  
Vasyl Papp ◽  
Nelya Boshota
Keyword(s):  
Economic Development ◽  
Strategic Planning ◽  
Development Strategy ◽  
Planning Process ◽  
Development Planning ◽  
Integrated System ◽  
Main Task ◽  
European Experience ◽  
Social And Economic Development ◽  
Socio Economic Development

The main task that determines the effective functioning of the country is the formation of a strategy for its socio-economic development based on a long-term innovation strategy. An innovative development strategy of the country is defined as a fundamental, basic element of the overall strategy of socio-economic development. The purpose of the article is to develop the conceptual foundations for shaping the country's socio-economic development strategy in modern conditions, adjusting the priority directions of the strategy and the peculiarities in using the means of achieving the goals, taking into account European experience. The article examines the European practice of developing and implementing the strategy of socio-economic development of the country as the most important instrument of the state's influence on social and economic development. Recommendations on the use of advanced strategic planning tools are developed. It is proved that without the scientific and methodological support of the plan of socio-economic development of the country it is impossible to count on the successful solution of important tasks and the democratization of public relations. The concept of strategy formation is designed to take into account the interests of economic entities and territory and to cover not only the traditionally used sectoral aspect of development, but also the territorial, which includes the creation and development of clusters and special economic zones. European experience shows that transition of a country to an innovative socially oriented type of development requires an increase in the efficiency of the state strategic planning process, the achievement of which is possible only with the co-ordinated activity of state authorities, business structures, science and society. It should be emphasized that in the prevailing conditions there is a need to form a single integrated system of social and economic development planning that optimally combines both the use of strategic planning and the program-target method for solving urgent problems.

ORGANIZATION OF INTERNAL CONTROL IN A REMOTE WORK ENVIRONMENT

2020 ◽  
Vol 3 (8) ◽  
pp. 73-79
Author(s):  
NGUYEN THI HA MY ◽  
Keyword(s):  
Control System ◽  
Work Environment ◽  
Internal Control ◽  
Business Processes ◽  
Rapid Development ◽  
Remote Work ◽  
Use Of Technology ◽  
Internal Control System ◽  
The Russian Federation ◽  
Ministry Of Finance

With the rapid development and widespread use of technology, business processes are being transformed. One of the consequences of the implementation of technologies into the business is the partial transition to remote work, which made it necessary to reflect the corresponding changes in the internal control system (IC). The article is devoted to the analysis of the main shortcomings identified during the transition to the remote mode, in response to which measures are proposed to adapt the IC to the conditions of remote work. Identifies the following areas for improvement of the internal control system. In response to the identified areas successful practical examples are analyzed and potential measures are proposed in the context of the elements identified in the COSO conceptual framework and methodological documents of the Ministry of Finance of the Russian Federation.

Management by values and goals: innovative development of public corporations

2020 ◽  
Vol 22 (4) ◽  
pp. 27-36
Author(s):  
OLGA A. TOLPEGINA ◽  
◽  
EKATERINA I. RUDENKO ◽  
Keyword(s):  
Information Technologies ◽  
Business Processes ◽  
Innovative Development ◽  
Digital Information ◽  
Small Companies ◽  
Public Corporations ◽  
New Business ◽  
Global Goal ◽  
Technical Innovations ◽  
Low Efficiency

The article proposes a methodology for assessing the innovative activity of a company, one of the areas of values of state corporations: «Innovation, innovative development, the ability to upgrade». To evaluate the effectiveness, the principle of decomposition of a global goal was used with its replacement for individual specific tasks according to the designated functional subsystems and objects (blocks) of assessment, which together give a generalized description of technological, technical innovations, their development and use, implementation of the latest digital information technologies, results intellectual research, the development of new business processes, management methods, organizational forms in business practice, as well as ability to sustainable renovation, improvement and prospects for innovative growth of the company and its sustainable renewal.The scoring methodology using the developed criteria boundaries of efficiency from ambitious to low efficiency and with assignment of significance scales by expert means involves the inclusion in each assessment block of six to fifteen traditional and composite author’s indicators, the complexity of which is determined by the complexity of the subject of the study and the described process. The methodology is universal in nature, can be used for large corporations and small companies according to a reduced set of indicators, it can be used in determining ratings.

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