Financial sustainability as a factor of forming fiscal space of local budgets

The purpose of the research is to deepen the theoretical foundations of financial stability as a factor in shaping the fiscal space of local budgets and substantiate the methodological tools for assessing the financial stability of local budgets of Ukraine in the medium and long term. Methods. The following research methods were used in analysing the problem: induction, deduction, system approach, statistical analysis, logical generalization, graphical method. Results. Fiscal extension gives the opportunities to local authorities to obtain and use extra budget resources for achieving the goal taking into account the restrictions caused by the necessity to maintain the financial sustainability in mid- and long-term periods. A methodological toolkit for assessing the financial sustainability of local budgets in mid- and long-term periods is proposed. The complex of arguments for the appropriate applying of the estimation of financial sustainability of local budgets in the national practice using the methodology of the European Commission in the mid-term period is given. It is substantiated that the development of strategic directions for ensuring the long-term financial sustainability of local budgets in Ukraine should take place with the use of foresight. It is substantiated that the fiscal space provides opportunities for local governments to obtain and use extra budgetary resources to achieve a certain goal, taking into account the constraints due to the need to maintain financial stability in the medium- and long-term periods. Methodical tools for assessing the financial stability of local budgets in the medium- and long-term periods are proposed. A set of arguments on the expediency of applying the methodology of the European Commission in the medium-term period in the native practice of calculating the financial stability of local budgets is presented. It is substantiated that the development of strategic directions to ensure long-term financial stability of local budgets of Ukraine should take place using foresight. Practical meaning. The practical significance of the obtained results is in the possibility of using methodological tools to assess the effectiveness of local budget sustainability management by state and local authorities in developing and making management decisions to regulate the level of financial stability of local budgets. Prospects for further research. The formation of theoretical foundations of financial stability as a factor in the formation of the fiscal space of local budgets and substantiation of methodological tools for their assessment in the medium and long term periods confirms the need for further scientific substantiation of strategic directions of long-term financial stability of local budgets in Ukraine under the condition of decentralization.

The budget financing for farms in Ukraine

The purpose of the article is to assess the current realities and areas of state support for farms, substantiation of recommendations for the formation of an effective system of budget funding for support programs in the future. Methods. General scientific and special scientific methods were used in the research process. Interpretation of basic categories and concepts is based on using methods of analysis and synthesis, induction and deduction, theoretical generalization. Results. For many countries agriculture is the most important industry in terms of contribution to GDP and employment, i.e. for both economic development and reduction of poverty. Farms are an important component of the agricultural sector of Ukraine’s economy. They ensure the efficient use of agricultural resources, as the economic interest of the producers themselves, who are mainly the owners of the resources or use some of them on lease, is fully realized. The farm incomes are based on the sale of crop production and livestock products, products of its processing and other industrial products of own products and the provision of different services. Practical contribution. During 2014–2019, the structure of budget programs of the state budget changed annually. At the same time, the central executive bodies were responsible for implementing programs aimed at financing agriculture, fisheries, forestry and hunting. Thus, the structure of the main spending units of the state budget changed. In this context it is important to take specific measures intended for the improvement of production profile considering a market dynamic; to make changes in manufacturing processes; to use more efficient material resources that ensure the reduction of their costs in terms of value per unit of output; to improve management in production operation of an enterprise; to encourage employees to achieve higher production results. Prospects for further research. How are the proposed measures supported by the state? Why is it important to implement them? Which possibilities are for this? The response to these issues requires a reasonable agrarian policy and a creation of effective mechanisms of state support. In consideration of a significant number of methods and approaches to justify agrarian public financing this aspect is quite relevant and important.

Innovations as a necessary condition of social development

The purpose of the study was to identify and characterize the factors that affect the efficiency of innovations implementation in the social development. Methodology. It was possible to characterize the essence and content of innovations in the social development, to identify factors that affect the efficiency of innovations implementation in the social development through the use of the methods of analysis, systematization, comparison, confronting, generalization of scientific literature and legal and regulatory framework. Results. It was found that in a broad meaning, scientists considered the social development as a change in society, resulting in new social relations, institutions, norms and values. In a narrow meaning, the social development could be seen as a change in the social structure, individual institutions of the society, as a result of which they appeared themselves in a new state. At the same time, the characteristic features of the innovative social development were: novelty for the social environment in which it was implemented; focus on meeting current social needs, solving social problems; had a practical nature of the development, involved the implementation of ideas; transformation of social relations. It was established that innovations in today's conditions were a basic condition of the social development which provided both innovative ideas and innovative methods, ways, technologies of their application. The key factors of the innovative social development were identified: legal support and financial assistance, favorable social-and-economic conditions, innovative resources, critical mass. It was found that efficiency in the implementation of the innovative social development could be achieved through the accumulation of human potential and economic support; formation of the corresponding legislative, financial, economic base; increasing the social activity of young people; modernization of social infrastructure; introduction of innovative technologies, etc. Practical importance. We hope that the results of the study, our observations and comments will contribute to the effective implementation of innovations in the social development, will help to create the necessary conditions, to develop appropriate measures to regulate the activity. Prospects for further study. In our opinion, the issues of factors influencing the quality of human potential, mechanisms of implementing social innovations, etc. can be further developed.

Research of consumer demand in the market of educational services of Dnipropetrovsk region

The purpose of the research. The aim of the work is to study consumer needs in the market of educational services in marketing management system at higher educational institutions. Methods. The following methods were used in the research process: statistical – to process data on the dynamics of supply and demand; sociological – in the study of factors that affect individual and socio-economic demand; survey – to collect primary data on consumer demand in the market of educational services in Dnipropetrovsk region. Results. It is proved that with the help of marketing researches and modern approaches it is possible to get a clear idea of qualitative and quantitative criteria of demand, the real situation in the market; identify problems of interaction between different market participants; determine trends and directions of demand development; evaluate the effectiveness of information channels. The authors emphasize that higher education institutions seek to achieve consistency between the potential of higher education institutions as producers of educational services and the needs of consumers in these services. The main development trends and problems of the market of educational services in Ukraine are described. In the light of the results obtained, it is established that understanding the behavior of potential and actual applicants for higher education will help the institution not only to adapt to it, but also to shape it. Practical meaning. The results of a survey conducted among consumers of the market of educational services in Dnipropetrovsk region allowed to make a portrait of the applicant and graduate through the eyes of employer. The obtained results can be used for further research on this topic Prospects for further research are the formation of a model of consumer behavior in the market of educational services, which will allow to organize effective management of marketing activities in higher education and not only meet consumer needs, but also to form market demand.

Display of cryptocurrency in accounting

The purpose of the research to determine the main features of the use of cryptocurrency and its identification as an object in the account. A comparative description of cryptocurrencies, electronic money and paper money is given. It has been established that there are no grounds to classify various types of cryptocurrencies in the accounting system as ordinary currencies or assets in a given period of time because they: are not regulated by any jurisdictions; it is not possible to identify the issuer or the specific organization responsible for its issuance; cryptocurrency exists only in the virtual Internet environment. Methods. General scientific methods and approaches, systematic approach, general research methods (analysis, synthesis, generalization, comparison), statistical methods. Results. The list of stages for reflection of activity of the business entity with use of cryptocurrency is offered and considered. The mining process is analysed and the list of cost items for the extraction of new digital coins is highlighted. The variant on reflection in the account of operations with cryptocurrency on accounts of accounting is offered. There are options for reflection in the accounting of cryptocurrency depending on its recognition: virtual goods, intangible assets, financial investments, digital money. To calculate the cost of cryptocurrency obtained by self-extraction, it is necessary to consider the main costs that need to be identified and reflected in the account. In addition to cryptocurrency, you can extract altcoins, lightcoins or convert cryptocurrencies into stablecoins, which cannot be extracted, but can only be purchased. The article presents the main aspects of calculating the cost, which include: the cost of electricity for individuals and legal entities in the country; the cost of the necessary equipment, its depreciation and maintenance, depreciation; residual value at which you can sell old mining equipment; hash – the speed of solving mathematical problems with one or another equipment; network load and production complexity; monetary value or exchange rate of a particular cryptocurrency or digital assets. Practical meaning. Despite all the scientific developments, the issue of accounting for cryptocurrency from the point of view of IFRS is quite debatable. On the one hand, most propose to account for it as a specific intangible asset. Virtual currency is a huge amount of computing power and digital assets. At this stage of technological development of mankind, cryptocurrency is gaining a stable position in the international market. Prospects for further research. Rapid development is causing further capacity growth and interest, but may eventually lead to collapse. However, if the price stability of the cryptocurrency is achieved, it can be used in international transactions, not just for speculative gain. However, this issue will be directly related to the legalization of the new currency and its recognition by central banks as a means of exchange or storage of money. There is a need for further research to understand the basic conditions for the use of digital currency in the payments market.

Research methodology in the system of financial and economic security

The purpose of the article is to form a methodology of scientific research in the system of financial and economic security. Methodology. The scientific works of scientists in the study of financial and economic security are the theoretical and methodological basis of the study. To achieve the study’s purpose, the following research methods were used: theoretical generalization – the essence and main components of the system of financial and economic security; methods of positive and normative analysis – to make recommendations on the methodology of scientific research in the system of financial and economic security. Results. Research in the financial and economic security system has been proven to be carried out in five areas. Among the areas of research of the system of financial and economic security are dangerous processes and phenomena occurring in the world economy that can negatively affect the economic security of Ukraine; the level of stability, protection of interests, and opportunities of the national economy to counteract the negative impact of the crisis of the world economy; the state of economic security of Ukraine and trends in the development of adverse factors in the national economy and the formation of mechanisms to counter them; the state of economic security of economic entities, external and internal factors of dangers and threats to economic security; features of the organization of the system of economic security of enterprises, the activities of the subjects of its provision and their use of techniques and technologies that make it possible to ensure economic security. The basic principles of research methodology in the system of financial and economic security have been provided. The principles of research methodology in the system of financial and economic security include the principle of conformity (responsible for building a system of definitions of basic concepts, axioms based on these definitions, theorems of the theory of economic security); the principle of additionality (allows the establishment of the place of the theory of economic security in the structure of economic science); the principle of hierarchical goals (ensuring the security of the upper level of the economic system is a condition for ensuring the economic security of the lower level of the economic system); the principle of relative independence of horizontal goals, methodological consistency, spatial consistency. Indicative, resource-functional, and program-target have been proven to be among the methodological approaches to the study of the system of financial and economic security. Practical significance. The methodology of scientific research in the system of financial and economic security, which can be used by applicants and scientific and pedagogical workers of higher education, is provided. Prospects for further research. Selection of the optimal methodology of scientific research in the formation of the system of financial and economic security.

Transformation of territories and reengineering of business processes as basic management technologies

The purpose of the article. The aim of the article is to define new concepts of transformation and reengineering of business processes, their types, properties and research of significance in the development of territories. Methodology. The theoretical and methodological basis of the study are the scientific works of scientists in the study of business process management in the system of competitive development of territories. To achieve this goal, the following research methods were used: theoretical generalization – providing the basic characteristics of models of economic development in the conditions of transformational changes in national economies; methods of positive and normative analysis – to determine the strategy and priorities for the transformation of regional development. Results. It is proved that transformation is a permanent form of life, a movement in which old and new coexist, in certain conditions innovative spheres survive and develop, such as material and technical and social base of scientific and technological progress, reforms, social consequences and sometimes negative for society neoplasms and deformities. Reforms do not stop historical, evolutionary transformations, they give them new impulses, directions, limit or expand the scale of their impact on all aspects of society. It is substantiated that the strategy of “catching up” and the strategy of “advanced technologies” should be implemented simultaneously, not in turn, as their common goal is to achieve a new technological level of the Ukrainian economy. It is determined that the strategy of “catching up” can be used in the manufacture of household appliances, engines and in the automotive and chemical industries. It is proved that Ukraine can and should pursue a strategy of “advanced technologies” in the production of certain weapons, aerospace and shipbuilding industry, chemical, heavy and energy engineering, transport, information technology, participate in global cooperation in nanotechnology and biotechnology. Prospects for the transformation of territories are identified, including: transition from extensive to intensive management methods, implementation of programs to increase regional production of goods, priority of small farms, development of social reforms, priority of small farms, restructuring of the regional economy. Practical meaning. Models of economic development for transformational changes in national economies can be used by regional public authorities. Prospects for further research. Study of strategy and priorities for regional development transformation.

Socio-demographic and socio-economic fundamentals of rural development

The purpose of the study is the socio-demographic and socio-economic development of rural areas in Ukraine. Methodology. The study’s methodological basis is the method of theoretical generalization, comparison, systems approach, and systems analysis. Results. The peculiarities of regulating the social development of rural areas from the demographic and economic point of view are characterized, the socio-demographic and socio-economic development of rural areas is generalized. It is established that the state of social infrastructure sets the task of successful social development of rural areas. The living climate in the rural territorial network highlights the latest research and publications of socio-demographic development of rural areas and theoretical and methodological provisions of socio-economic development of rural areas, analysed the features of solving problems of preservation of rural areas in Ukraine. It is revealed that the solution of problems of preservation of rural territories and labour potential is necessary by creation of social, industrial, engineering interaction of urban and rural areas. Practical meaning. It consists of the generalization of socio-demographic and socio-economic development of rural areas. Based on this work, the relevance of this topic for modern society is determined. Prospects for further study. Socio-demographic and socio-economic development of rural areas depends on the effective implementation of its own competitive advantages. Further research will be devoted to the issues of socio-demographic and socio-economic development of rural areas in Ukraine.

Current trends in the development of small businesses in Ukrainian agriculture

Purpose of the research. The aim of the article is to analyze the activities of small agricultural enterprises in Ukraine and identify the main obstacles to their development. Methodology. The following methods were used in the research process: generalization and comparative analysis. The authors used sources of statistical information and analytical reviews. The list of them is given in the list of references. Results. The article analyzes the main indicators that characterize the efficiency of small business in Ukraine. The role of small enterprises in the economy of developed countries is studied. It is noted that the impact of small business performance on gross domestic product (GDP) dynamics is different and depends on many factors – both historical and other, related, for example, to the structure of the economy, the culture of entrepreneurship. It is indicated that with the independence of our country, small business has developed rapidly, its share in the total number of businesses has grown. The main indicators that characterize the activity of small enterprises in agriculture of Ukraine are analyzed. The results of the study show a positive trend towards increasing the profitability of small businesses operating in agriculture in Ukraine. Practical meaning. The main obstacles to the development of small business in Ukraine have been identified. These include: low efficiency of legal regulation of economic relations, high levels of corruption and raiding. The authors notes that the acceleration of positive trends in small business development is possible provided that the level of favorable business environment in Ukraine is increased. Prospects for further research may be a mechanism for reconciling the interests of the subjects of the process of small business social responsibility.

Regional media platforms: Status, problems, prospects

The purpose of the article is to analyse the current state of regional media platforms, identify development problems and justify solutions. Methodology. General scientific methods are used in the research. Among them are generalizations, comparisons, statistical analysis – to analyse views of the scientists on the current state of providing regional media platforms, identify development problems and justify solutions. Results. In the process of analysing the current state of regional media platforms development, an increase in the number of business entities in Ukraine that provide information and telecommunications services (in 2010–2018 from 55,977 to 174,622 units) was revealed. In general, the increase was due to an increase in the number of information services and computer programming, consulting and related activities. Considering the field of publishing, film production, radio broadcasting and television broadcasting, it is necessary to state the fact that during the study period, the number of subjects decreased significantly. This trend is observed due to the reform implemented in these areas. The leaders of the reform process are Kirovohrad region, where 25 out of 28 print media and editorial offices have been reformed, Zhytomyr (24 out of 28), Khmelnytsky (23 out of 27), Mykolaiv (22 out of 26), Poltava (26 out of 31), Ternopil (16 out of 21) regions. Outsiders of the reform process are Kyiv, Lviv, Odesa, Dnipropetrovsk, Ivano-Frankivsk, Transcarpathian regions and the city of Kyiv. In particular, in Kyiv, according to the monitoring data, none of the 4 communal mass media was reformed, and in the Transcarpathian region, 3 out of 31 editions were reformed. The volume of sold products by enterprises of the type of economic activity “information and telecommunications” increased 3.8 times or by 200,727.1 million UAH. A significant increase in sales is observed in all areas, except for magazines and periodicals. This once again confirms our opinion that the majority of the population gets information from the Internet but not from print media. Therefore, the volume of sold products has decreased significantly. The main problems hindering the development of regional media platforms are presented. The main problems include: inadequate provision of the Internet access; low quality of traffic, content (no advertising market, no paid subscription) and fact-checking; the influence of the media founders on editorial policy; the dominance of hidden advertising. Practical meaning. These problems of media platforms will allow to form their development strategy. Prospects for further research. The study will substantiate the prospects for the development of regional media platforms in Ukraine.