FINANCIAL CONTROLLING IN THE SYSTEM OF FINANCIAL MANAGEMENT

2018 ◽  
Vol 28 (1) ◽  
pp. 137-141
Author(s):  
Petya Yordanova – Dinova
Keyword(s):  
Comparative Analysis ◽  
Financial Management ◽  
Financial Stability ◽  
Business Environment ◽  
Innovative Approach ◽  
Financial Sustainability ◽  
The Common ◽  
The Difference ◽  
Effective Use ◽  
And Control

This paper explores the comparative analysis of the financial controlling, who is a result from the common controlling concept and the financial management. In the specialized literature, financial controlling is seen as an innovative approach to financial management. It is often presented as the most promising instrument of financial diagnostics. Generally speaking, financial controlling is seen as a process of managing the company`s assets which are valued in monetary measures. The difference between the financial management and the financial controlling is that the second covers all functions of management, analysis and control of finances, aiming at maximizing their effective use and increasing the value of the enterprise. Financial controlling is often seen as a function of the common practice of financial management. Its objective is to preserve the financial stability and financial sustainability of enterprises operating in a highly aggressive business environment.

scholarly journals THE EFFECTIVENESS OF ENSURING THE FINANCIAL STABILITY OF THE RESTAURANT BUSINESS IN THE CRISIS COVID-19

2020 ◽  
Author(s):  
Liudmyla Batchenko ◽  
◽  
Liliia Honchar ◽  
Andrii Beliak ◽  
◽  
...  
Keyword(s):  
Financial Management ◽  
Financial Stability ◽  
Hospitality Industry ◽  
Business Environment ◽  
Financial Indicators ◽  
Financial Condition ◽  
The Matrix ◽  
A Chain ◽  
Key Indicators ◽  
Enterprise Policy

The study identifies and systematizes key indicators and criteria for ensuring the financial stability of the restaurant business. The complex and thorough analysis of features of maintenance of financial stability of the enterprises of restaurant business on an example of one of restaurants of a chain of the Japanese kitchen of LLC «Sushiya» is carried out. After analyzing the key indicators of financial and economic activity of the restaurant, using the method of complex calculation of the rating of the financial condition of enterprises in the hospitality industry, the level of financial stability of the studied enterprise is determined. Based on the results of practice-oriented analysis, the ranking of financial management goals by the degree of impact on the financial stability of the enterprise. The mechanism of ensuring financial stability of restaurant business enterprises is modeled. The developed and substantiated mechanism is based on a unique methodology, which, unlike existing ones, is adapted to the field of hospitality, is carried out by specific tactical and strategic tools of financial management, based on the chosen type of enterprise policy; takes into account the dynamics of the main financial indicators of the enterprise, which is planned to implement the mechanism and the possible impact of factors of the external changing business environment. With the help of the matrix of financial strategies of J. Franchon and I. Romane, the position of the restaurant «Sushiya-Lavina» is determined and the methodological tools for improving the efficiency of its financial stability are substantiated.

scholarly journals TO IMPROVE THE ANALYSIS OF THE FINANCIAL SECURITY OF THE BUSINESS IN GEORGIAN ENTERPRISES

2020 ◽  
pp. 135-147
Author(s):  
IZOLDA CHILADZE
Keyword(s):  
Financial Management ◽  
Financial Stability ◽  
Factor Model ◽  
Limited Liability ◽  
Sustainable Growth ◽  
Sustainable Business ◽  
Growth Trend ◽  
Factors Affecting ◽  
The Stability ◽  
And Control

The purpose of this paper is to improve the analysis of the financial stability of enterprises and to identify the key factors affecting the establishment of the sustainable growth trend of enterprises (except the financial sector) in Georgia. Answering the question: what financial challenges do enterprises in Georgia face today and be designed consequently, recommendations for strengthening the financial stability of enterprises should be developed in Georgia, increasing solvency and mitigating bankruptcy risks? The necessity for the financial stability of enterprises is becoming increasingly important both for sustainable business growth and for the stability of the international financial market.The subject of the study is the financial positions and financial results of the analytical enterprises. The first and second categories of joint-stock companies of Georgia and limited liability companies were selected as the research objects. Ten enterprises in total. The research methodology includes methods of economic and statistical analysis, factor analysis, vertical, horizontal, proportional and ratio analysis.In order to improve financial management and control, the paper presents multi-factor models of several indicators created by the author. These are: the tree-factor model the coefficient of the organic structure of capital, an eight-factor model of profitability and a six-factor model of the Financial leverage. The paper conducts practical research on the example of ten Georgian companies and concludes that the main challenges in today›s Georgia are the dangers of losing financial stability and bankruptcy. The reason for such a tense financial situation is not a «Corona-19». According to the author, the main reasons for the instability of enterprises in Georgia are: The Irresponsibility of business owners and management, low management professionalism and hidden flows of cash resources.

scholarly journals Wartości w języku biznesu: nowe znaczenia. Analiza wybranych przykładów

2017 ◽  
Vol 26 ◽  
pp. 47-67
Author(s):  
Marek Kochan
Keyword(s):  
Comparative Analysis ◽  
Major Part ◽  
Final Section ◽  
Potential Influence ◽  
New Meanings ◽  
Polish Language ◽  
The Common ◽  
And Control ◽  
Utility Approach ◽  
Operational Dimension

Values in the business language: New meanings. The analysis based on selected examplesThe topic of this article is the usage in business language of seven particular words describing values or positively evaluated in this language morality, sensitivity, excellence, loyalty, sentiment, execution, aggressive. The major part of the paper is dedicated to adetailed comparative analysis of these new meanings, based on the variety of examples taken from the Polish business language. The meanings of these words, as observed in business language, vary greatly as noted based on five Polish language dictionaries published in the 21st century, used for comparison. In most cases those new meanings of the examined words are not mentioned in the analysed dictionaries. In the final section of the text the author comments on the values discourse in business language operational dimension, utility approach, ambition to measure and control the values, potential influence of value-words as used in business language on the common Polish language as well as the question whether these new meanings should be included in Polish language dictionaries.

scholarly journals THE PROFITABILITY DETERMINANTS OF THE GLOBAL PHARMACEUTICAL & BIOTECHNOLOGY COMPANIES DURING THE COVID-19 PANDEMIC

2021 ◽  
Vol 6 (1) ◽  
pp. 43-54
Author(s):  
Boris Tušek ◽  
◽  
Ana Ježovita ◽  
Petra Halar
Keyword(s):  
Multinational Corporations ◽  
Financial Management ◽  
Financial Stability ◽  
Panel Data Analysis ◽  
Stress Test ◽  
Business Environment ◽  
Sustainable Operations ◽  
The World ◽  
Biotechnology Companies ◽  
The Impact

In today's chaotic, complex, unpredictable, and extremely dynamic business environment, it is more than ever essential to operate in a way that will ensure sustainable operations and demand for companies’ goods or services. Employing contemporary corporate governance, advanced information technology, and adequate financial management are significant foundations for sustaining high profitability and adequate financial stability as crucial objectives that ensure adding value for companies' owners. Covid-19 is an excellent stress test for every entity, as for micro-companies, so for the largest multinational corporations. Nowadays, in the era of the world Covid-19 pandemic, companies challenge to maintain business operations and going concern assumption. However, in every crisis or adverse situation, some companies take enormous benefits of it. Pharmaceutical and biotechnology companies can be characterized as the major players during this last, still actual crisis. Their role can be observed from two angles, first as a provider of necessary drugs for curing Covid-19 patients and from the other side, as a developer of effective and efficient vaccine which will ‘save the world’ and brought us back to the ‘old normal’. This paper seeks to investigate financial determinants that are the most significant for the profitability of the pharmaceutical and biotechnology companies. The question is how those companies coped with the Covid-19 crisis, and what is the impact on their profitability in 2020 compared to previous operating years? Another question is how is the development of the vaccine financed and are R&D expenses significantly increased in 2020? Therefore, the objective of the paper is to investigate the impact of the Covid-19 crisis on the profitability of global pharmaceutical and biotechnology companies. The research covers 52 entities on the global level for the period from 2010 to 2020. Data will be analysed by applying adequate panel data analysis and moderator regression analysis. Keywords: profitability ratios, pharmaceutical and biotechnology companies, Covid-19

scholarly journals Competitiveness management to ensure financial sustainability

2021 ◽  
Author(s):  
Inna Dimitroglo ◽  
Keyword(s):  
Financial Management ◽  
Financial Stability ◽  
Competitive Environment ◽  
Management Decision ◽  
Financial Sustainability ◽  
Business Activity ◽  
Managerial Decision ◽  
Operating Cycle ◽  
Financial Cycle ◽  
High Level

In a highly competitive environment, it is very important to maintain a high level of business activity. To make a management decision in the field of marketing, a complex indicator of turnover is important - the duration of the operating cycle in days. And for making a managerial decision in the field of financial management, it matters - the duration of the financial cycle in days, since the level of financial stability of the enterprise depends on this.

scholarly journals CONSIDERING THE STATE OF THE UKRAINIAN ECONOMY IN THE ENTERPRISES FINANCIAL SUSTAINABILITY MODELING

2020 ◽  
Vol 1 (4) ◽  
pp. 37-47
Author(s):  
Leonid Debunov ◽  
Aleksandr Yakovenko
Keyword(s):  
Financial Management ◽  
Consumer Price Index ◽  
Graphical Analysis ◽  
Economic Environment ◽  
Financial Sustainability ◽  
Financial Indicators ◽  
Crisis Period ◽  
Goods And Services ◽  
Macroeconomic Indicators ◽  
The Difference

Construction of a model for predicting the bankruptcy of the enterprise is an urgent and popular task. Using this model will provide an opportunity to make quick and accurate assessment of financial sustainability, predict possible bankruptcy advance and take the necessary action to avoid it. Obviously, bankruptcy can occur both under the influence of internal factors (in particular, financial management errors) and when the economic environment changes. The inclusion of all possible en-vironmental factors influencing into the model is a difficult task and causes an over-load of such a model with a large number of input signals. A more realistic option is to build a model using internal financial indicators only, but under a relatively con-stant external environment. The subject of the study described in the article is the general homogeneity of the Ukrainian economy over time in the context of the possibility of using companies’ reports for these periods to build a neural network model of financial sustainability of enterprises using only internal financial indicators. To separate stable periods from unstable ones, a review of the dynamics of macroeconomic indicators of Ukraine for the period 2010–2019 is used. Graphical analysis of the dynamics of macroeconomic indicators is used as a methodology. The purpose of this study is to identify periods of Ukraine’s economy, the conditions of which are quite stable to take reports of enterprises of these periods for a dataset formation. The article considers the dynamics of the following indicators of Ukraine’s economy: gross domestic product, hryvnia exchange rate, employment, consumer price index, total net profit (loss) of enterprises by size of enterprises, levels of profitability of operating activities, foreign trade indicators by geographical areas (imports and exports of goods and services) etc. The study pays special attention to the economic crisis of 2014–2015 and to changes in the economic environment, which distinguish the conditions before and after the crisis. The main conclusions of the article are the recognition of the existence of crisis phenomena in the period 2014–2015 and the recognition of the difference between the post-crisis period and the pre-crisis period. In order to build an up-to-date model of financial sustainability, it is recommended to use report data for periods not earlier than 2016.

scholarly journals The structure of the enterprise’s financial management

2021 ◽  
pp. 10-12
Author(s):  
Olena BROVKOVA ◽  
Hanna KOVALOVA
Keyword(s):  
Operations Management ◽  
Financial Management ◽  
Financial Stability ◽  
Enterprise Management ◽  
Modern Enterprise ◽  
Effective Development ◽  
High Level ◽  
And Control ◽  
Relationship Of ◽  
The Relationship

The paper considers in detail the structure of financial management of the enterprise. The possibility of survival and effective development of the enterprise in dynamic and often unfavorable environmental conditions is determined by how competent managers are in matters of financial management. Skillful management of three processes – current operation, continuous improvement, radical development – determines the effectiveness of enterprise management. Financial management is a very important process of any enterprise in the process of capital movement. The paper considers the main definitions and principles of using financial management sub-processes in the management of a modern enterprise, as well as highlights the relationship of these sub-processes in the appendix to the activities of the financial manager. The principle of financial stability is characterized by such activities of the enterprise through which it could at any time, to settle their debts with their own or borrowed funds. Making a profit (the most key measure of financial efficiency of the enterprise) – getting a positive difference between the total income of the enterprise and its costs (in monetary terms). The scientific prerequisite for financial management is a fairly high level of development of economics. The activity of any enterprise is not possible without the management of facilities or processes (personnel management, operations management, etc.). Thus, any enterprise can be represented in the form of two subsystems – managed and control.

scholarly journals MANAGEMENT OF FINANCIAL SUSTAINABILITY OF THE ENTERPRISE AND ITS FEATURES IN THE FIELD OF SMALL RESTAURANT BUSINESS

2021 ◽  
Vol 5 (1) ◽  
pp. 1-14
Author(s):  
N. Hembarska ◽  
◽  
Kh. Danylkiv ◽  
L. Kvasnii ◽  
◽  
...  
Keyword(s):  
Financial Management ◽  
Small Businesses ◽  
Financial Stability ◽  
Large Scale ◽  
External Factors ◽  
Small Enterprise ◽  
Financial Sustainability ◽  
Sustainability Management ◽  
Financial Condition ◽  
Internal And External Factors

Purpose. The purpose of this study is to analyze the theoretical foundations of financial sustainability management and their practical application in the field of small restaurant business, improve methodological approaches and develop recommendations for the concept of financial sustainability management to overcome existing problems in today’s conditions. Design/methodology/approach. In the article the authors used the methods of induction, deduction, theoretical generalization to clarify the essence of financial stability from the standpoint of different authors and formulate a generalizing concept used to determine the basic principles of financial stability management, its tasks, components and the sequence of their application in the formation of the concept of managing the financial stability of a modern enterprise; observation, causation, description, specification, formalization – to analyze the problems of choosing the method on the basis of which the calculation of the main indicators of financial stability of the enterprise, as well as interpretation of the data to be used for small businesses, their calculation and the desired trend of change, the characteristics of the accounting support of this process; dialectical, modeling, generalization – to develop recommendations for improving the methodology and organization of the process of managing the financial stability of a small restaurant business. Conclusions. It is hypothesized that improving the methodology and organization of financial sustainability management of small restaurants allows to generate quality information space and sufficient resources to ensure a high degree of financial independence and a stable financial condition in which performance will improve or not deteriorate. changes in internal and external factors. It is proposed and substantiated to implement the concept of financial stability management of the enterprise taking into account the time factor in three levels: strategic, tactical and operational. It is noted that in modern conditions entrepreneurs in the field of small business need educational and training services for financial management, in particular, their financial stability, and the most important and most accessible element of financial stability of the enterprise in the short term is its budgeting system. Practical implications. The results of this study are of interest to small restaurant businesses that address financial sustainability management in quarantine, as quarantine and coronavirus (COVID-19) have caused large-scale economic upheaval, forcing entire businesses to adapt to new, more complex realities. In addition, the results can help identify weaknesses in marketing and finance; the most common causes of bankruptcy; internal and external factors that affect the financial stability of small restaurant business. The paper highlights the features and substantiates the main ways to overcome possible problems of managing the financial stability of small restaurant business. Originality/value. This study contains a description of the main parameters of managing the financial stability of the enterprise in terms of management levels; reveals the characteristics of modern small restaurant business and the problems that arise in the process of managing its financial stability; contains proposals to ensure the financial stability of a small enterprise, namely, it is proposed to pay attention to three main components: the efficiency of use and increase of equity; ensuring solvency by regulating the size and structure of property and capital of the enterprise; ensuring liquidity of assets.

scholarly journals Theoretical principles of enterprise capital management

2020 ◽  
pp. 19-22
Author(s):  
Viktoriia KREMEN ◽  
Olha KREMEN ◽  
Alina KRAVCHENKO
Keyword(s):  
Financial Management ◽  
Financial Stability ◽  
Legal Regulation ◽  
External Support ◽  
Capital Management ◽  
Economic Activities ◽  
Financial Activity ◽  
Financial Autonomy ◽  
Effective Use ◽  
Theoretical Foundations

The enterprise's capital is the basis of its activities, the basis for the formation of proper financial and property support of economic activity and the bedrock of financial autonomy, solvency, and stability. An important area of financial management in the enterprise is capital management, which includes essential areas such as selecting and prioritizing capital sources, ensuring consistency of capital cost with profitability, structuring and optimizing the composition and volume of capital. The paper is devoted to studying enterprise capital's economic essence and its management's theoretical foundations as a sufficient component of financial management and financial work in the enterprise. The paper presents the analysis of scientific and methodological approaches to interpreting the essence of the concept of «capital» and «enterprise capital». The paper substantiates that the enterprise's capital is a set of monetary, tangible and intangible assets, mobilized from various sources and involved in operational and investment processes to generate income and maximize the market value. The enterprise's capital as the main source of maximum profit, profitability, and financial stability requires effective management through the application of a system of principles and methods of development and implementation of management decisions related to its optimal formation and ensuring its effective use in various economic activities. The enterprise's capital management mechanism includes a system of regulation of financial activity of the enterprise, a system of external support of financial activity of the enterprise, a system of financial levers, a system of financial methods, and a system of financial instruments. The system of regulation of the enterprise's financial activity, in turn, includes the state regulatory legal regulation, market and internal mechanisms of regulation of financial activity of the enterprise in the part of capital management.

scholarly journals Clinical Observation of 48 Cases of Black Eye Circle Treated with Modified Yu Rong San Gel Eye Mask

2021 ◽  
Vol 5 (4) ◽  
pp. 47-51
Author(s):  
Jinmei He ◽  
Chenglong Li ◽  
Yunhua Liu ◽  
Ping Huang ◽  
Meng He ◽  
...  
Keyword(s):  
Treatment Group ◽  
Clinical Effect ◽  
Clinical Observation ◽  
Effective Rate ◽  
Control Group ◽  
Black Circle ◽  
The Face ◽  
The Common ◽  
The Difference ◽  
And Control

Objective: To observe the clinical effect of modified Yu Rong San gel eye mask in the treatment of dark circles. Methods: 96 cases of patients with dark circles were randomly divided into treatment group and control group. In the control group and the treatment group, the common eye mask and the modified Yu Rong San gel eye mask were applied to the black circle area respectively. After 15min, water was used to wash the face, the application of the mask for one time a day, four weeks, one course, and three courses were observed. Results: After three courses of treatment, the total effective rate of the treatment group was higher than that of the control group (P<0.05); the area of black eye circles in the treatment group was smaller than that before treatment (P<0.05); compared with the control group, the score of black eye circles was lower than that before treatment, the difference was statistically significant (P<0.05). Conclusion: Addition and reduction of Yu Rong San gel eye mask is effective in the treatment of dark circles.

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