Abstract
The current stage of development of the world economy is characterized by specific transformations that affect not only the state of the national economies of the countries of the world, but also the peculiarities of conducting financial and economic activities of individual organizations (enterprises) employed in various sectors of the economy. The emerging trends require the development of financial knowledge, skills, and financial management skills of an economic entity, which, in turn, confirms the need for in-depth theoretical and empirical studies of the organizational and economic aspects of the finances of organizations (enterprises) in various spheres of the economy. The purpose of the article is to develop theoretical and methodological provisions that form the basis for the formation of a financial management system for organizations in various sectors of the economy. The article uses modern methods of collecting and processing initial information, representative sample sets with the justification for the selection of financial indicators for the objects of financial management of organizations (enterprises). The leading method for the study of the problem of financial management of organizations (enterprises) has become the dynamic method. The problems in the world financial science in the field of studying the finances of organizations on a linear basis are identified and the need for an integrated approach is substantiated. The prospects of using a systematic approach to the formation of a financial management system for organizations in various sectors of the economy in science and practice have been proved. The theoretical significance of the study lies in the development of the theory of finance of organizations. The scientific theoretical provisions developed by the authors are aimed at improving the quality of financial management of organizations, depending on their belonging to the relevant sphere of the economy. The practical significance of the results of the work is reduced to determining the prospects for the practical use of the theory of financial management of organizations (enterprises) in various spheres of the economy in practice.
Highlights
Depending on belonging to different spheres of the economy, specific differences arise in the composition of all elements of the organization's management system.This approach extends to the financial management of an organization, which is an independent integral area of its activities and at the same time an integral part of the management system of an economic entity along with systems of other functional areas.The paper investigates the organizational aspects of the finances of organizations and commercial banks in the context of their specific subjects and objects of management, as well as the economic aspects of the finances of these economic entities in terms of management tools as methods of risk management and the ultimate goals of the functioning of their financial management system
The emerging trends require the development of financial knowledge, skills, and financial management skills of an economic entity, which, in turn, confirms the need for in-depth theoretical and empirical studies of the organizational and economic aspects of the finances of organizations in various spheres of the economy
The test of the applicability of the author's theoretical and methodological approach to the formation of a financial management system for economic entities in different spheres of the economy was implemented in practice through the analysis of key performance indicators for financial management objects for operating organizations of the Russian Federation and operating Russian commercial banks from 2013 to 2017
Summary
Depending on belonging to different spheres of the economy, specific differences arise in the composition of all elements of the organization's management system (a set of subjects, objects, tools, goals).This approach extends to the financial management of an organization, which is an independent integral area of its activities and at the same time an integral part of the management system of an economic entity along with systems of other functional areas.The paper investigates the organizational aspects of the finances of organizations (enterprises) and commercial banks in the context of their specific subjects and objects of management, as well as the economic aspects of the finances of these economic entities in terms of management tools as methods of risk management and the ultimate goals of the functioning of their financial management system. Depending on belonging to different spheres of the economy, specific differences arise in the composition of all elements of the organization's management system (a set of subjects, objects, tools, goals). This approach extends to the financial management of an organization, which is an independent integral area of its activities and at the same time an integral part of the management system of an economic entity along with systems of other functional areas. The research hypothesis is based on the scientific interpretation of the research object, according to which the finances of organizations in various spheres of the economy are a system of monetary relations regarding the formation and use of sources of the organization's property in the process of production and / or sale of goods (works, services)
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