Економічні науки. Облік і фінанси

THREATS TO THE FINANCIAL SECURITY OF UKRAINIAN AGRICULTURAL ENTERPRISES IN THE CONTEXT OF EUROPEAN INTEGRATION

2020-03-31T16:37:46+00:00

One of the important factors of state independence in the context of European integration is the state of financial security of economic entities, especially in the strategic sector of the economy - agriculture. Due to the volatility of the market environment, there is a need for comprehensive preventive assessment of external and internal factors that directly or indirectly affect the agricultural business.

The crisis situation in which most agricultural enterprises are located today poses a certain financial risk to both the socio-economic stability of the regions and the potential of each enterprise. The current state of the industry does not allow to ensure financial security of agricultural enterprises and food security of the country. Consequently, the competitiveness of such enterprises in the European market will be low.

Ukraine's integration into the EU is quite a difficult issue, as it has been going on for quite a long time, although it is clear that this process cannot proceed quickly.

There has been debate in Ukraine for more than one year about its integration choices, ie the choice of integration model: European or Eurasian. The Revolution of Dignity, the annexation of Crimea, and hostilities in eastern Ukraine have finally eliminated the polarity of the West-East movement and, finally, identified Ukrainian integration priorities for the European path of development.

We believe that the main threats to the financial security of Ukrainian agricultural enterprises in the context of European integration are the following: 1) Staffing; 2) Food pressure from Western partners; 3) Problems with obtaining a loan due to lack of own resources; 4) Low technological level; 5) Difficult political and economic situation; 6) Lack of state funding.

Agricultural enterprises have problems accessing long-term credit resources because they lack collateral sufficient to secure a refund. The article discusses the conditions under which the risk factors and the competitiveness of agricultural enterprises in the European market can be mitigated.

ESTIMATION OF SOLVENCY OF BORROWERS UNBANK FINANCIAL INSTITUTIONS

2020-03-31T16:37:35+00:00

In the article importance of reliable estimation of solvency of borrower of credit union is considered on efficiency of activity of establishment. Investigational most acceptable exactly to the credit unions types of providing of obligations. The most applied providing of obligations are a guarantee and mortgage. However a mortgage is more acceptable to the credit unions of the first level of adjusting.

It is well-proven that bail is the most acceptable type of providing exactly for credit unions. Debtors bear the responsibility in obedience to the conditions of the agreement of bail. A mortgage is used by credit unions far fewer, as a notarial certification of agreement of mortgage is needed. Also an object of mortgage often is in common property of borrower and other persons, that creates additional problems at the return of credit. It is well-proven, increase of cost of credit that is provided by a mortgage. At a grant to the credit decision influence has a size of profits gets that.

Classification over of indexes of estimation of the financial state of borrowers of creditunions is brought. Indexes that characterize the real sizes of the got profits belong to the quantitative indexes. Indexes that does not depend on the concrete actions of borrower belong to the quality indexes, and already is formed as result of his past actions or events. The indexes of business reputation of borrower belong to the quality indexes, marital status, and also presence of the personal and immobile chattels for a borrower, credit histories in other financial. The article classification of documents is driven for the estimation of solvency of borrowers of credit unions.

Such classification signs of documents, that is examined at a decision- making in relation to a grant to the credit to the concrete borrower, are given: docu-ments that confirm the got profits; documents that confirm profits from corporate laws; documents, that confirm the right of ownership on the personal chattels, tran-sport vehicles; documents that confirm enterprise profits.

Consequences are reasonable for financial institutions in case of delivery of credit to the borrowers with subzero solvency.

ON THE DEVELOPMENT OF THE INSURANCE MARKET OF UKRAINE

2020-03-31T16:37:25+00:00

The insurance sector plays an important role in the socio-economic development of the country, effectively managing the risks in the country and protecting the interests of insurers.

As the economy develops, the Ukrainian insurance market is changing rapidly. However, changing economic conditions create new problems that hinder the effectiveness of the insurance market, which is the key to stability and prosperity in society. That is why it is necessary to identify the negative factors influencing the insurance market and search for new promising directions of development.

The state’s interest in insurance development is conditioned by the adoption and approval of insurance market development programs. The article gives a list of the tasks set and fulfilled by the government under these development programs in Ukraine.

The formation and development of the insurance market occurred in the absence of an effective regulatory framework, in the absence of effective state oversight of insurers and in times of economic crisis. Therefore, it is impossible to say with certainty at what stage of development the insurance market of Ukraine is located, because many problems in insurance activity are needed to solve.

The negative factors do not allow the insurance market to fully develop, forcing foreign investors to look for other, more attractive options for investing in the insurance industry. In order to overcome the problems and reform the insurance market, it is necessary to: stimulate insurers to obtain international financial reliability ratings; to define a single and effective strategy for the development of the Ukrainian insurance market; to introduce world standards of insurance business; strengthen the control of insurers by public authorities to ensure solvency and financial sustainability; to create a qualitative system of training highly qualified personnel for the insurance industry; strengthen the work on the creation and implementation of additional regulatory acts.

FOREIGN EXPERIENCE OF FORESTRY TAXATION

2020-03-31T16:37:17+00:00

The article investigated the features of forestry taxation in the United States of America, France, and Iceland. The main directions of reforming the tax system of Ukraine in the field of forest management are defined. The purpose of the study is to analyze the experience of foreign countries on forestry taxation and the effective use of forestry potential of countries with the prospect of introducing effective practices into the system of taxation of domestic economic entities.

Research on scientific articles on forestry taxation has shown that many traditions in environmental management are remnants of previous systems of management, and therefore far behind Western practice. However, Ukraine’s orientation to the European Union requires that Ukrainian legislation in the field is consistent with EU forest management conditions.

Despite the considerable attention of scientists on the issues of improving and reforming the existing system of taxation of forestry enterprises, many problems remain regarding the administration of resource payments and the application of their mechanisms in forestry.

It is determined that the most optimal for Ukraine is the American tax system. Rates and methods of taxation differ significantly for different types of ownership of forest land. Wood is classified into three types:

- personal use (mainly for personal use, without profit);

- investment real estate (mainly to profit from rising timber or asset prices);

- business property (with regular, active and permanent profit from logging activities).

American incentive and subsidy methods are implemented in the form of federal and state income tax benefits; favorable management of the environment of wood and wildlife in state and local property taxes; deductions for the donation of land or the right to build it in conditions of permanent conservation of easements; direct incentive savings through special bills and other federal, state, and private programs.

Federal tax policy reforms have increased the income tax for high-income businesses and changed the real estate tax by touching some forest owners and producers. However, despite flexible tax policies, forest land taxes and forest fund use continue to fund state and local budgets. That is why it is possible to implement such system in the economy of Ukraine.

Overseas taxation is more loyal to businesses that focus not on profit, but for those whose forest is primarily a source of income, there is a progressive rate of interest on income tax. The fact that Ukraine’s European integration requires reforming the economy and forestry, including the tax system will gradually move closer to the European one.

MPROVEMENT OF ACCOUNTING OF FINANCIAL RE-SULTS OF ACTIVITIES OF FORESTRY ENTERPRISES

2020-03-31T16:37:10+00:00

The process of determining financial results as an integral part of the flow of accounting and management information, without involving all the economic cycles of the enterprise is impossible, is important to distinguish and regulate the flows of information about all accounting objects.

The proposed scheme of organization of accounting of financial results provides strengthening of control over activity of structural divisions of forestry enterprises.

The process of exchanging information between different users is quite complicated. Therefore, the important issue of providing the company management with complete, truthful and impartial information for making management decisions is to create a model of accounting and analytical support for the formation of financial results of the forestry enterprise.

Business management requires systematic information on operating, financial and investment activities and the associated costs, revenues and results. That is why there is a need to revise the methodology and organization of the formation of financial results of economic entities.

After analyzing the research and proposals of scientists, we propose to use analytical subaccounts in the account 79 «Financial results».

Clearly differentiating results by type of activity is of fundamental importance for assessing the financial and economic activity of the enterprise, is strategic development, which proves the feasibility and importance of the distribution of income, expenses and financial results in terms of operating, financial, investment activities and emergency events. Such information will be useful to the management of the enterprise for evaluating the effectiveness of financial and economic activities, as well as for making sound management decisions.

ANALYSIS OF ACCOUNTING APPROACHES IN SOLVING ENVIRONMENTAL PROBLEMS

2020-03-31T17:43:49+00:00

The article analyzes changes in accounting, taxes, audits that are related to solving environmental problems in the world. The chronology of changes and prospects for further development of accounting have been constructed. The introduction of an ecological balance for accounting is proposed

Researches rotined that directions of development of ecological account it is enough much and there are changes in relation to introduction of requirements of such account on mokro- and microlevels in a historical prospect. Awareness of importance of account of ecological activity not enough in order that enterprises inculcated him in the registration practice.

We see in an ecological account more more wide setting which consists not only in the reflection of influence on an environment but also him actual consisting and changes of him. Working off opening methods in an account and accounting of enterprise of him ecological activity is the near-term task of accountants of research workers and practical workers.

For implementation of the tasks put before organization of account quite a few is developed and ratified normatively legal certificates, however much all of them touched statistical reports, information for filling of which and until now is not the objects of record-keeping. Instrumental in it and attitude of IFRS toward ecology. After a searching word «Ecology» not a single phrase was found in IFRS and IAS. It is a separate account which can be examined as part statistical or tax.

In fact exactly for the aims of the statistical and tax accounting appear a necessity of account of activity, related both to causing of harm an environment and with nature protection measures. To our opinion, from point of method of account, an ecological account must look as balance of «natural capital», where certain factors influence on his diminishing, and other on an increase.

The cost of natural capital includes ekosistemi of favour, that cost of net air, water, rekreaciyni services and others like that An ecological account will be able to execute all tasks fixed on him, if he will be built in obedience to a classic method and double record with the maintainance of balance, in this case by the maintainance of natural capital.

Within the framework of modern record-keeping on mikro- the levels of ekosistemni favour are not represented in none of countries, however much they belong to the national set of accounts in the countries of Europe. To the certain moment national accounts are a lump sum of individual accounts, but only to the certain moment, because limitations exist through the use of different estimations. However one of examples of the use of identical accounts on wetly and microlevels there is the so-called balance of carbon in ecology.

These accounts seem more successive, as an in-use metage - CO 2-equivalent, expressly certain in relation to a global rise in temperature. The task of workers-environmentalists is an estimation of natural capital taking into account the cost of ekosistemnikh services, and a record-keeping can become basis for adjusting of control after them.

THEORETICAL ASPECTS OF CURRENT ASSETS MANAGEMENT OF THE ENTERPRISE

2020-03-31T17:43:36+00:00

The article covers the essence and main tasks of managing current assets of the enterprise. In today’s business environment, the activity of enterprises is closely linked to the formation and use of current assets, which has a special place in the capital structure of the enterprise. At the same time, the continuity of the production and sale of products, liquidity of the enterprise, its solvency and profitability depend on the quality of management of current assets. Current assets management is about finding effective forms of its financing, optimizing its volume, improving its structure and increasing its efficiency.

Current assets management is aimed at solving such tasks as ensuring the necessary amount of current assets in order to maintain current solvency, optimization of current assets structure to ensure liquidity ratios, search for sources of current assets financing, taking into account the conditions for ensuring the financial stability of the entity.

It should be noted that current assets management is based on such principles, as interconnectedness, timeliness, coordination, continuity, optimality and rationality. The application of all these principles in combination will ensure the effective formation and implementation of the policy of current assets management of the enterprise.

The main functions of current assets management are analytical, which is to ensure the constant analysis of current assets and its elements; stabilizing, which is to take measures to ensure a sufficient level of liquidity and solvency of the enterprise; control, which consists in the formation of a system of integrated control over the volume of current assets and the state of liquidity and solvency of the enterprise.

The factors that cause a negative impact on the formation and use of the current assets of the enterprise are defined.

ECONOMIC AND MATHEMATICAL MODELING OF ENTERPRISE PROFIT

2020-03-31T17:43:26+00:00

The article considers profit as one of the most important criteria for evaluating the performance of an entity. Also, the article is devoted to the analysis of the theoretical problems of the modeling process and the disclosure of key concepts of this process. One of the main types of models was considered. The stages of the process of econometric modeling and forecasting of financial results of the enterprise activity are presented.

It is revealed that profit, for each business entity, is the central financial category, which reflects the positive financial result of the enterprise's business activity, characterizes the efficiency of utilization of available resources at the enterprise.

The profit of the enterprise is an important category which strengthens the financial condition of the enterprise and at the same time is the primary source of formation of economic stability in a competitive environment. During the research, econometric modeling and forecasting of financial results of the enterprise were carried out, namely: the relationship between net profit and net income from the sale of products (goods, works, services) of the enterprise by econometric analysis methods was investigated. This model is based on real statistics of the activity of the auto repair company, which is a component of the motor transport industry.

The conducted research makes it possible to conclude that due to economic-mathematical methods and models of formation of financial result, the company can investigate the relationship between economic indicators and their influence on them, in order to make a sound management decision.

A STUDY OF THE REPORTING TRANSFORMATION IN THE CONTEXT OF MANAGERIAL DECISION-MAKING

2020-03-31T17:43:16+00:00

The problem for the administrative staff is the ability to correctly and in a timely manner to make effective management decisions. Given that reporting information is the main source of information support for managerial decision-making, the research topic is relevant and needs scientific and practical development.

The article analyzes the scientific approaches of scientists to the definition of reporting in the context of managerial decision making.

The information contained in the reporting should be prompt, economically interesting and actively used by managers, founders and owners of the company in making management decisions.

Research of scientific literature gives grounds to claim the following: at the present stage, scientists identify managerial reporting with internal or operational; there is also an opinion about defining its place as a supplement to the financial statements that are formed within accounting. In our opinion, this does not correspond to the current practice of enterprise activity and the requirements for information support of enterprise management.

The development of accounting and its transformation is a continuous, progressive process that began actively at the end of the fifteenth century with the advent of the first accounting technologies, the systematization and processing of accounting data and the provision of accounting information in a form suitable for management decisions.

The stages of reporting transformation are investigated, the advantages and disadvantages of reporting transformation are established, taking into account management needs.

Main stages of reporting transformation:

1) study the general requirements for IFRS reporting; comparative analysis of IFRSs and P (C) IAS and NP (C) IAS, identifying differences in estimates; study of the requirements of IFRS 1 «First-time Adoption of IFRS»; IFRS accounting policies;

2) comparative analysis of accounting policies on requirements of P (C) IAS and NP (C) IAS and IFRS, identification of the scope of adjustments; gathering information needed for transformation; selection of the format of reporting components and preparation of working documents; adjustment, declassification; preparation of the opening balance sheet, preparation of the balance sheet and income statement in IFRS format; preparation of the statement of changes in equity and the statement of cash flows (by selected layout); preparation of notes and notes in IFRS format;

3) preparation of additional sections of reporting, adjustment of reporting indicators in the light of inflation, translation of indicators in foreign currency (if necessary).

International practice in reporting in the context of management decision-making has emerged as a relatively new type of reporting as integrated reporting. Instead, in Ukraine, a new form of enterprise reporting is management reporting.

In our opinion, the international practice of reporting in the context of management decisions is more sophisticated, because it takes into account the main purpose of reporting - to satisfy information needs and requests of its users. Reporting has proven to be an important source of information for users in their decision-making process.

ANALYSIS OF THE CURRENT STATE OF DEVELOPMENT RETAIL TRADE IN UKRAINE

2020-03-31T17:43:08+00:00

The article analyzes the current state of development of the retail trade industry in Ukraine. The main indicators and financial results of the development of retail trade, volumes of sales of goods through the Internet, commodity turnover of imports of goods and manufactured in Ukraine are given.

Retail is the main link in the organization of domestic trade in consumer goods and the most important economic activity in the field of commodity circulation. The level of retail development reflects the state of the relationship between production and consumption, and ultimately is a characteristic of the standard of living of the population. Retailing completes the economic chain by translating consumer goods from circulation into consumption and is of major socio-economic importance; it sells goods to the public for personal consumption. Retail activity is conditioned both by macroeconomic transformations in Ukraine and by the peculiarities of its activity by economic entities, the results of which affect the standard of living of every citizen. High competitiveness, economic situation, supply-demand ratio for goods and services are forcing retailers to adapt their resources to new prices and changes in turnover. Therefore, an analysis of the current state and prospects for the development of the retail industry is important in today’s context. Improving the quality of customer service and improving the organization of sales of goods is the main task of trade entities in a competitive environment to attract a contingent of customers and thus their cash income.

STRATEGIC ACCOUNTING OF MANUFACTURING INVENTORIES IN INDUSTRIAL ENTERPRISE

2020-03-31T17:45:38+00:00

The need for significant resources to acquire inventories requires that they be managed.

As inventory management can be seen for a long period of time, the boundaries of management accounting are widening. In this case we are talking about strategic management inventory.

Despite the large number of publications, the issue of organizing strategic inventory accounting remains relevant.

The purpose of writing the article is to highlight the features of strategic management accounting of industrial inventory.

In the article the features of construction of the forecast model of the financial reporting at operations with production stocks of the industrial enterprise are covered.

Due to the limited financial resources of any company, analysts always have the question of determining the volume of purchase of production stocks. The purchase of inventories is determined by the need for planned production, available balances at the beginning of the planning period, and estimated balances at the end of the planning period.

Any purchase of inventories is accompanied by settlements with suppliers of those inventories. These operations should also be reflected in the forecast balance sheet model. The amount that will be transferred to suppliers will be determined by various factors: the available cash resources, the frequency of their receipt at the company, the order of payment of mandatory payments (wages, taxes, utilities, interest on loans, other). The above factors will affect the amount owed to inventory providers and therefore the forecast balance sheet model.

The article describes the sequence of analytical actions in forecasting settlements with suppliers of inventories and recommendations for forecasting individual financial statements.

Thus, simple inventory operations involve a set of interrelated purchasing, utilization, and inventory calculations.

Each of these operations influences the finite balance forecast model. From the accounting point of view, in order to build a forecast model of the balance it is necessary to enter the forecast figures for the following economic operations: purchase of production stocks; use of inventories for production needs; inventory balances at the end of the reporting period; transferring funds to suppliers.

Under these operations, the analyst will be able to form a balance sheet model and see the effect of inventory dynamics on the forecast balance sheet item. It will also be possible to form models of the forecast form 2 «Statement of financial results» and the forecast form 3 «Statement of cash flows». Actually, the forecast financial statements are an information guideline for the activity of the enterprise aimed at achieving its goal.

FINANCIAL LOAD ON THE BUDGET OF THE SOCIAL INSURANCE FUND, BY DECREASING THE PHYSICAL ACTIVITY OF THE POPULATION

2020-03-31T17:45:26+00:00

The article states that the burden on the budget of the social insurance fund is increasing. The groups of physical activity are described, among which the workers of mainly mental work, very light physical activity are distinguished; employees engaged in light work, light physical activity; workers of moderate labor, average physical activity; workers of heavy physical labor, high physical activity; especially hard workers, very high physical activity. It is determined that the largest number is the group of employees engaged in light physical activity. The FSS load factor by groups and physical activity is determined.

According to the World Health Organization, nearly a third of the population (27.5% or one in four inhabitants of the Earth) is lacking in physical activity. Given the complex nature of the financial burden, the multifaceted nature of its substantive content, as well as the lack of sound approaches to assessing and determining the impact of motor activity on the health of the population and reducing payments for temporary disability, there is a need to study the financial burden on the Social Insurance Fund (FSS) decrease in physical activity of the population of Ukraine. Outside of research, there are many controversial and relevant questions about this problem. Therefore, we consider it necessary to concentrate our attention and substantiate the author’s position on this issue.

The burden on the FSS tended to increase due to the increase in temporary disability payments, which accounted for the largest share in the cost structure. The cost index for the FSF by groups of payments was calculated as the weighted average of payments by the number of insured events. The increase in this indicator indicates an increase in the level of burden on the budget of the FSS. In the dynamics there was an increase in the number of persons who engage in physical education by 13.3%. The FSS load factor for physical activity was calculated as a weighted amount of the cost of the fund to the number of persons engaged in physical culture. Its growth is a negative trend, as it testifies to the lack of physical activity of the population and the growth of financial burden on the FSF. Accordingly, we propose to develop at national and regional level a set of measures that would help reduce the burden on the budget of the FSF. These include an increase in programs that would be funded for the development of physical education. One of them may be the organization of physical culture classes at enterprises, establishments and institutions, and additional stimulation of economically active population for increased physical activity.

FORESIGHT: ESSENCE AND FORECASTING METHODOLOGY

2020-03-31T17:45:06+00:00

An effective and powerful tool for modeling the future at national and regional levels, for industries and large enterprises, is the foresight, which has become one of the main tools of the innovation economy. The term «foresight» now means the process of systematically identifying strategic scientific trends and technological advances that can, over time, have a significant impact on the economic and social development of the country.

The article identifies the difference between foresight and other tools for studying future development. The term "foresight" now means the process of systematically identifying strategic scientific trends and technological advances that can, over time, have a significant impact on the economic and social development of the country. This definition covers four components:

1) foresight is a continuous process;

2) the central place in it is occupied not by specific technologies but by scientific and technical directions;

3) the time horizon must exceed the business planning horizon;

4) the choice of priorities takes into account their impact on the socio-economic development of the country.

The difference between foresight and other tools for studying future development is identified: orientation to the use of specific measures; consideration of different alternatives for future enterprise development; interdisciplinary nature. It has been shown that when using the business site foresight there are a number of problems that were subsequently solved in foresight technology:

1) the object developers are dealing with is often undetermined and requires special study;

2) participation in the project allows a large number of different positions, the expert environment is very heterogeneous.

Based on the conducted research, the essence of foresight can be considered as a system of peer review methods, survey-based methodology, scenario prediction, systemic reflection, scenario prediction, modern methodology.

Expert assessments are the basis for evaluating future options. It is noted that in Ukraine the organization of the national technological prediction system should cover a number of measures.

The implementation of this methodology in our country will allow us to identify the technologies to which the maximum investment should be directed. Conducting a foresight will allow all structures to be interested in achieving the set goals. Forsyth will involve all stakeholders involved in the adoption and implementation of strategic decisions, will help to formulate different scenarios for future development and accordingly plan actions for the long-term perspective of enterprise development.

SOCIAL CAPITAL ACCOUNTING: PROBLEMS AND PROSPECTS OF IMPROVEMENT OF METHODOLOGY

2020-03-31T17:44:53+00:00

The article deals with the economic prerequisites for allocating social capital as an object of accounting, management and financial accounting. The problems of determining the essence of social capital from the standpoint of accounting theory, standards and principles of financial reporting, management theory have been identified.

The purpose of the article is to study the accounting of social capital. It is proposed to improve the methodology of accounting for social capital.

The relationship of social, human, intellectual and transactional capital has been proved. The essence and reflection in accounting of various components of capital are described. Human capital is the skills and experience of employees of the enterprise. Human capital as an asset is the methodologies, patents, certificates of employees. Intellectual capital is the knowledge of employees, innovative technologies, brands and the reputation of the company. Transaction capital is access to information, sources and resources in the market, asymmetric benefits. Social capital is the norm of relationships in social groups and enterprises. It is also corporate norms, traditions, corporate culture, corporate culture brand, trust, loyalty to partners.

The reflection of social capital in accounting is the subject of much discussion by economists. Scientists have different theories regarding the structure, valuation and accounting of social capital.

The tasks of improving the methodology of accounting for social capital: 1) identification of existing social capital at a specific reporting date; 2) estimation and accounting of the growth of social capital under the influence of external factors favorable for a given economic entity; 3) analytical accounting of investments in social capital and development of indicators of their return; 4) methodology for analyzing the effectiveness of investments in social capital.

Methodological approaches to solving the identified problems at the micro level accounting for social capital are proposed.

Accounting socialization is the driving force behind the development of accounting methodology with new features and tools such as accounting engineering and qualimetry. Accounting engineering will allow the use of interdisciplinary research for the purpose of improving accounting methodology, to apply the principles of constructivism, priority of functional purpose and orientation to ecoludinocentrism. Qualimetry will make it impossible to translate social phenomena and processes into the assessment plane at first glance. For measuring and evaluating social capital, qualimetry is like basic science. Qualimetry offers a universal toolkit for social governance based on the quantitative measurement of qualitative phenomena that have not previously been quantified.

In the context of sustainable development, social responsibility of business is a priority slogan. The level of social responsibility is an indicator of business image and its competitive advantage. Information on indicators of social activity, the value of social capital, investments in social capital should be presented in social reports.

The perspective directions of researches on development of methodology of accounting of social capital are outlined. We see the prospect of further scientific research in terms of improving the methodology of accounting for the components of capital, in particular social. Therefore, the management report needs to develop a mechanism for presenting such information in an accessible manner to interested and knowledgeable users.

ASSESSMENT OF THE IMPACT OF THE BAN ON THE EXPORT OF UNTREATED TIMBER ON THE PROFITABILITY OF FORESTRY

2020-03-31T17:44:33+00:00

With large forest areas, Ukraine was one of the main exporters of untreated timber in Europe. The major problem with forestry management was that a large part of the timber that was exported was harvested illegally and was not accounted for, resulting in significant losses to both the national ecosystem and the state budget from tax and levy deficiencies.

After the adoption of the Law on Export of Forest Products, the volumes of illegal logging began to decrease, but in addition to the possibility of selling timber obtained illegally, the legal export markets were closed. Thus, many state forestry companies find themselves in a situation where there is an opportunity to collect timber for sale, but buyers are not enough. This, in turn, leads to an increase in finished goods in warehouses and a decrease in the cash flows of the enterprise, which worsens the financial condition of the national forestry.

From the above data we can conclude that the volume of timber harvesting in Ukraine is increasing every year, despite the ban on its export (except 2017). However, no positive conclusion can be drawn about the growth of sales and profitability of the enterprises of the industry, since the data on the share of finished goods sold and the share remaining in the warehouses of enterprises are not given.

To investigate this issue, we analyzed the indicators of residues of finished products of 12 largest forestry enterprises in Volyn region.

As can be seen from the above data, the share of finished products in the assets of the studied forestry enterprises tends to increase steadily and in 5 years it has increased more than 3 times. That is, the hypothesis about the increase of actual wood residues in the warehouses of enterprises is confirmed. Such an increase adversely affects the overall profitability of the industry by reducing the flow of funds.

Revenue from the sale of the 12 surveyed forestry enterprises has been steadily increasing, but their total net income has been decreasing over the last 4 years. The share of net profit in sales revenue also declines to less than 2% in 2018. This gives reason to speak about the deterioration of the financial condition of the forestry by reducing the amount of profit received.

ORGANIZATIONAL ASPECTS OF ANALYSIS AND CONTROL OF ECONOMIC SECURITY AT ENTERPRISE

2020-03-31T17:46:59+00:00

Theoretical provisions are considered in the article and methodological and applied recommendations on organization of economic analysis of economic security of the enterprise and system of control over its level are developed.

The lack of a unified and complete opinion on the economic security of the enterprise necessitates the need to continue finding ways and ways to solve this problem. Considering the main priorities and eliminating the shortcomings and contradictions, in our opinion the economic security of the enterprise is a condition characterized by stability and balance, protection from the negative impact of the internal and external environment, neutralization of threats to the efficiency of use of available resources, elimination of obstacles in the implementation of life - important interests and ensuring sustainable development.

Continuous monitoring and assessment of the economic security of the enterprise should be the result of the interaction of all interested services of the enterprise. This requires appropriate methodological, organizational, information and technical support.

Enterprises can be established department (department, service, department) of economic security, whose activities are managed by its manager. On the other hand, there may be the creation of a working group of specialists. The organizational forms of economic security of an enterprise are determined by the composition of the apparatus and the technical level of security management. Improving the methods of analytical and power work to ensure the economic security of the enterprise requires the development of analytical functions of all services of enterprises.

Economic security issues are the responsibility of not only the employees of economic services, but also the technical departments (chief mechanic, energy, technologist, etc.). Economic services of the enterprise plan economic activity, carry out supply and sale of products, organize labor, financial work, accounting and control of economic activity.

Internal analysis of economic security of enterprises is carried out by employees of enterprises, and external - marketing and economic intelligence services of the enterprise. The analytical department (accounting department) should carry out both external and internal analysis of its economic security in the complex.

FINANCIAL RESULTS AS THE ECONOMIC CATEGORY AND THE FEATURES OF DISPLAYING THEIR IN THE ACCOUNTING AND REPORTING OF THE ENTERPRISE

2020-03-31T17:46:49+00:00

The article deals with the essence of financial results of the enterprise activity, defines their place in the accounting and reporting of economic entities. The problems of information support of the process of financial results management are highlighted and generalized. The problems of internal reporting formation in modern business conditions are considered, the information requirements of users to internal reporting are defined, the approach to its formation is proposed.

Understanding the essence of the category «financial result» - one of the main prerequisites for the formation of appropriate areas of its accounting, analysis and control, as well as the ability to exercise managerial influence on its individual components in order to improve the efficiency of the enterprise. The assessment of the legal and regulatory support indicates that the term «financial results» is not defined in detail in the legislation of Ukraine.

Thus, national R(S) of Accounting 1 «General Financial Reporting Requirements» defines the economic content of the categories «profit» and «loss». The concepts of «financial result» and «profit» are not identical, since the category «financial result» is broader in its meaning. The financial results reflect the entire economic activity of the enterprise, characterize the quantitative and qualitative indicators of the performance of the enterprise. Profit or loss is the result of this activity. The positive value of the financial result (profit) is an important indicator of growth of equity capital, which ensures solvency, financial independence, business reputation and growth of the enterprise value in the market.

The following definition of this economic category is appropriate: financial results is a monetary indicator of the performance of an entity’s economic activity, which is determined by comparing the income received and expenses incurred. Performance indicators can be expressed in the form of profit or loss.

According to the current regulatory documents, information about financial results is disclosed in almost all forms of financial statements of domestic enterprises, but in different interpretations. It is important to report on information sufficient for strategic profit management. For its formation it is necessary to take into account the factors that determine the value of the financial result of each particular enterprise.

Modern trends in the financial statements reinforce attention to the notes to the financial statements, which revealed, refined and supplemented by information provided in the basic reporting forms. An important direction of increasing the level of financial reporting analytics should be the proper construction of its form.

In developing forms of internal (management) reporting, the existing reporting requirements (defined at the legislative level), in practice, act as a limiting factor, since they often do not take into account the features of the enterprise management system and activity strategy. Therefore, it is important to generate sufficient information in the accounts to support strategic revenue management.

WAYS TO IMPROVE THE SYSTEM OF PROVIDING SOCIAL ASSISTANCE TO THE POPULATION IN UKRAINE

2020-03-31T17:46:41+00:00

The need for social protection research to address social problems in the country is driven by an unstable situation. Effectiveness of development of social protection of the population, reproduced in the level of life of citizens and social stability in society. Social assistance plays an important role in the social well-being of Ukrainian citizens.

The purpose of the study is to study trends in indicators and to substantiate recommendations on ways to improve the system of providing social assistance to the population in Ukraine.

Explaining the essence of social benefits is particularly important in the complex situations that have arisen today, as social protection is a means of preserving stability and harmony in a society, an instrument through which the state can influence people's lives.

The dynamics of changes in social security expenditures from the state budget has been studied, according to the data we can see that the actual amount of expenditures is increasing by 55% in 2018, but nevertheless, their share in% of the country's GDP has decreased by 2.1%, respectively, over the last three years. talks about reducing the effectiveness of this article costs. Which suggests the need for further research and prevention of a similar situation.

An assessment of the effectiveness of providing social assistance to the population has shown that there are many problems and imperfections that impede the proper functioning of the social protection system. The biggest drawback is the insufficient level of security of the population in order to solve a significant part of the existing problem, and it is possible to offer active involvement of citizens in work.

The implemented social protection policy, which provides assistance to the population every year, is undergoing significant changes, therefore improvements and additions are necessary measures in its activity. The biggest problem that currently exists is the inconsistency of social standards with the real situation, in these circumstances, the inhabitants of our country are unable to meet their needs and high standard of living.