WAYS TO IMPROVE THE FINANCIAL STATE OF THE ENTERPRISE IN MODERN ECONOMIC CONDITIONS

Abstract

The article describes the essence of the concept of the financial state of the enterprise, determines the destabilizing factors of influence on the financial state and identifies the ways of its improvement.

Enterprises operating in a market environment are fully responsible for their obligations to the financial and credit system, their employees, suppliers, the state, as well as the results of production and financial activities. The ability of the enterprise to timely repay its obligations describes its financial condition.

In order to survive enterprises in the conditions of constant intensification of competitive struggle it is necessary to be able to really assess the financial condition of both their enterprise and existing potential competitors. However, first, it is necessary to understand the essence of the term "financial condition".

Financial condition is a complex concept that is the result of the interaction of all elements of the system of financial relations of the enterprise, determined by a set of production and economic factors and is characterized by a system of models, methods and indicators that reflect the availability, allocation and use of financial resources.

If we talk about the factors affecting the financial position of the company, it depends on the results of its production, commercial and financial and economic activities. Therefore, all of the above mentioned activities of the enterprise are influenced by it. Timely detection of destabilizing factors will minimize the risk of deteriorating financial position and reducing profits.

An important way to improve the financial position of Ukrainian enterprises is also to find the optimal ratio of own and borrowed capital, which would provide the minimum financial risk for maximum return on equity. The next direction in improving the financial state of the enterprise may be the production and development of new types of products.

In order to satisfy the financial condition of the enterprise, it is necessary to systematically analyze the finances of the enterprise and eliminate the existing shortcomings. A system of measures to maintain a high financial standing should include:

- permanent monitoring of the external and internal conditions of the enterprise;

- development of measures to reduce the external vulnerability of the enterprise;

- development of preparatory plans in case of emergencies, implementation of preliminary measures for their provision;

- implementation of plans of practical measures in the event of a crisis situation, the adoption of risky and non-standard decisions in case of deviation of the situation;

- coordination of actions of all participants and control over the implementation of activities and their results.

It is under such conditions that it is possible to provide a monitoring system for each of the components of a positive financial state of enterprises, which would be able to optimize it in accordance with the development prospects.