METHODOLOGY FOR ANALYSIS OF THE FINANCIAL CONDITION OF AGRICULTURAL ENTERPRISES AND WAYS OF ITS ENHANCEMENT

##plugins.themes.bootstrap3.article.main##

##plugins.themes.bootstrap3.article.sidebar##

Published: Sep 30, 2021

  Olena Tomchuk

Abstract

The purpose of the article is to form the main directions of improving the financial condition of the business entity in modern conditions. Methodology. Methods of theoretical generalization and concretization, Internet resources have been used in this study. Results. Groups of users of information concerning the financial condition of the enterprise are selected. The first group includes creditors, investors, competitors, regulators, and other users, and the second – the company's management, economic and other interested internal services, shareholders, etc. For each of these users, certain selected metrics are important. A technique for determining the significance of indicators for a particular group of users, which involves the use of economic and mathematical methods and models, is developed. In order to make certain management decisions, the analysis should be carried out according to the indicators required by the management and, accordingly, will be implemented in the management practice of Khmilnytske LLC. The sequence of assessment of the financial condition by economic and mathematical methods is determined. Having chosen the direction of research of indicators and having carried out their corresponding calculations, it is possible to carry out the analysis of factors of influence on the financial position of the investigated business entity and to calculate reserves of its improvement. To do this, it is advisable to use the procedures of correlation and regression analysis. The content of these procedures is to determine the impact on the financial condition of each of the elements of the formulas of coefficients or other indicators. A set of factors influencing the formation of economic strategy of agricultural enterprises is divided into two groups, namely exogenous and endogenous. The leading system ensuring the enterprise solvency has been developed. Software for the financial condition analysis at the enterprise is proved. Practical implications. The developed system takes into account the available initial data (financial statements and software) and significantly reduces the cost of working time for analysis, which speeds up the management decision-making process and allows you to respond quickly to changes in asset structure to improve efficiency and improve business subject efficiency. Value/originality. The developed model of the analysis of a financial condition with the use of economic and mathematical methods which is sufficiently adapted for automation will provide, provided its introduction in analytical practice, a high level of optimality of operative administrative decisions, and also will increase the efficiency of agricultural enterprises.

How to Cite

Tomchuk, O. (2021). METHODOLOGY FOR ANALYSIS OF THE FINANCIAL CONDITION OF AGRICULTURAL ENTERPRISES AND WAYS OF ITS ENHANCEMENT. Three Seas Economic Journal, 2(3), 104-117. https://doi.org/10.30525/2661-5150/2021-3-14
Article views: 160 | PDF Downloads: 168

##plugins.themes.bootstrap3.article.details##

Keywords

analysis, financial condition, agricultural enterprises, information users, indicators, economic and mathematical methods

References

Bakanov, M. I., & Sheremet, A. D. (1993). Teoryia эkonomycheskoho analyza [The theory of economic analysis]. Moscow: Finance and statistics. (in Russian)

Bagatska, K. V., Govorushko, T. A., & Sheremet, O. O. (2013). Finansovyi analiz [Financial Analysis]. Kyiv: NUFT. (in Ukrainian)

Mazur, V. A., Tomchuk, O. F., & Branitsky, Yu. Yu. (2017). Metodyka analizu finansovoho stanu pidpryiemstva vidpovidno do vymoh vnutrishnikh i zovnishnikh korystuvachiv [Methods of analysis of the financial condition of the enterprise in accordance with the requirements of internal and external users]. Economy. Finances. Management: current issues of science and practice, 3 (19), 7–20.

Horkavyi, V. K. (2012). Statystyka [Statistics]. Kyiv: Alert. (in Ukrainian)

Shkaraban, S. I. (1997). Ekonomichnyi analiz v umovakh rynkovoi ekonomiky [Economic analysis in a market economy]. Methodology of economic and statistical research in market conditions. Proceedings of the scientific-practical conference. (Ukrainian, Ternopil), Ternopil: Economic opinion.

Tomchuk, O. F., & Levchuk, M. S. (2019). Kryterii otsiniuvannia i prohnozuvannia finansovoho stanu ta rezultativ diialnosti pidpryiemstva [Criteria for assessing and forecasting the financial condition and performance of the enterprise]. Young scientist, 9 (73), 480–486.

Tiutiunnyk, Yu. M., Dorohan-Pysarenko, L. O., & Tiutiunnyk S. V. (2016). Finansovyi analiz [Financial analysis]. Poltava: PDAA. (in Ukrainian)

Tomchuk, O. F. (2019). Upravlinskyi analiz: poniattia, pryntsypy ta osnovni elementy [Management analysis: concepts, principles and basic elements]. Problems of system approach in economy. Collection of scientific works of the National Aviation University, issue 5 (73), part 2, pp. 133–142.

Oleksandrenko, I. (2014). Diahnostyka likvidnosti ta platospromozhnosti pidpryiemstva [Diagnosis of liquidity and solvency of the enterprise]. Current economic problems, 6 (156), 419–426.

Tomchuk, O. (2020). Rol finansovoi stiikosti v otsintsi ymovirnosti bankrutstva pidpryiemstva [The role of financial stability in the assessment of the enterprise bankruptcy]. Slovak international scientific journal, 38, 14–24.

Bazilyuk, V. Yu. (2015). Problemy otsinky finansovoi stiikosti pidpryiemstv ta napriamy yikh pokrashchennia [Problems of assessing the financial stability of enterprises and areas for improvement]. Student Bulletin of the National University of Water Management and Environmental Sciences, 2 (4), 104–108.

Sidorova, T. O., & Lysak, H. H. (2014). Metodychni pidkhody do upravlinskoho analizu finansovoi stiikosti pidpryiemstv [Methodical approaches to management analysis of financial stability of enterprises]. Economic strategy and prospects for trade and services (Ukrainian, Kharkiv) (eds. Cherevko O. I.), Kharkiv: Kharkov State University of Food Technology and Trade.

Lakhtionova, L. A. (2011). Analiz finansovoi stiikosti subiektiv pidpryiemnytskoi diialnosti [Analysis of financial stability of business entities: monograph]. Kyiv: KNEU. (in Ukrainian)

Rudenko, Ye. M. (2014). Zastosuvannia «zolotoho pravyla ekonomiky» dlia otsinky dilovoi aktyvnosti silskohospodarskykh pidpryiemstv [Application of the "golden rule of economics" to assess the business activity of agricultural enterprises]. Agrosvit, 16, 42–49.

Volontyr, L. O., Potapova, N. A., Ushkalenko, I. M., Chikov, I. A. (2020). Optymizatsiini metody ta modeli v pidpryiemnytskii diialnosti [Optimization methods and models in business]. Vinnytsia: VNAU. (in Ukrainian)

Shmatkovska, T. O., & Mazurkevich, L. E. (2015). Otsiniuvannia suchasnykh tendentsii ta shliakhy pokrashchennia avtomatyzatsii oblikovo-analitychnoho protsesu subiektiv hospodariuvannia [Assessment of current trends and ways to improve the automation of the accounting and analytical process of business entities]. Bulletin of Zaporizhia National University, 1 (25), 88–97.