Activities Of Business Entities Research Articles

The interaction of concepts and laws of system development in the economic analysis of business entities' activities

Subject. The increasing complexity of business operation processes and rising expectations of stakeholders require rethinking the content of economic analysis of business entities’ activities. Objectives. The study aims at assessing the impact of interaction of modern concepts and laws of system development on the economic analysis of business entities’ activities. Methods. The study employs logical and systems approaches, methods of grouping, comparison, generalization, analysis, and synthesis. We apply the matrix method in the economic analysis to identify the results of interaction of the concepts under consideration and the laws of system development. Results. The analysis demonstrated that the methodology of economic analysis should be geared to solving theoretical and practical issues of the activities of business entities that take into account the transformation of business processes under the influence of digitalization, the emergence of new forms of business organization and management technologies with a focus on harmonious development, the increase in information flows and the complexity of economic information processing, systematization, and transmission. Conclusions. The economic analysis has gradually transformed into an integrated and interdisciplinary scientific discipline aimed at disclosing the problems of business processes and developing possible solutions, which ultimately boils down to developing the most rational courses of action that meet the requirements of stakeholders. The methodology of economic analysis itself is directly dependent on the laws of development and the concepts under consideration. This requires considering the manifestations of their interaction in the development of information and analytical support for the management of economic entities.

Траектория развития агропромышленного комплекса Пензенской области в современных экономических условиях

The article presents the results of the analysis of the main indicators characterizing the efficiency of the functioning of the agro-industrial complex of the Penza region, including the volume of agricultural pro-duction, yield indicators and acreage volumes for leading agricultural crops, as well as production volumes in the livestock sector. A critical analysis of the activities of business entities in the agricultural sector al-lowed us to identify the factors hindering the development of the agro-industrial complex in the region and identify ways to solve problems in the industry.

Финансовый анализ вероятности банкротства корпорации

Financial condition is the most important characteristic of the economic activity of business entities. Therefor in domestic theory and practice there is a search for methods and models that make it possible to predict the bankruptcy of organizations with sufficient accuracy. The article discusses the methods used in the practice of economic entities of the Russian Federation for assessing the likelihood of bankruptcy. As an innovation, an innovative crisis management mechanism is proposed — an autogenic crisis and its practical tool based on stress testing of enterprises in the real sector of the economy. To effectively manage crisis situations, it is recommended to develop a Federal Auditing Standard with a unified set of indicators that allow assessing the likelihood of insolvency (bankruptcy) of the audited organizations. In addition to financial indicators, it is proposed to include in the set of such indicators reflecting the operational and investment activities of business entities.

The Need and Potential for Import Substitution of Reference Materials in the Russian Federation: Analysis of Data from the Federal Information Fund for Ensuring the Uniformity of Measurements

The deep integration of the Russian economy into the global economy at the turn of the XX–XXI centuries did not bypass the production of reference materials (RM). Domestic testing, verification, and calibration laboratories receive some RMs from abroad. The number of these RMs is an extremely relevant issue at the moment, since the global competition of national economies for the right to dominate their own markets with state-limited borders has intensified.The strategy of the Russian Federation aimed at achieving the maximum level of sovereignty and independence of the national production sector extends to the sphere of metrological support for the activities of business entities. The practical implementation of this strategy requires a comprehensive analysis of the information presented in the Federal Information Fund for Ensuring the Uniformity of Measurements (FIF EUM) on the number of foreign RMs, the scope of their application, and an understanding of the structure of demand for foreign RMs within the country. At the same time, it is necessary to form an idea of the technical capabilities of producing domestic RMs.The article provides solutions to most of the problems stated above. The data presented by the authors can be the basis for making management decisions in the field of production and circulation of metrological support equipment for production.

РЕЦЕНЗИЯ НА МОНОГРАФИЮ «ГОСУДАРСТВЕННО-ЧАСТНОЕ ПАРТНЕРСТВО В ПЕНИТЕНЦИАРНОЙ СФЕРЕ» (АВТОРСКИЙ КОЛЛЕКТИВ: Е. В. ЕРМАСОВ, А. В. ПЕТРЯНИН, А. В. РОДИОНОВ, А. П. СКИБА, О. А. СКОМОРОХ, П. В. ТЕПЛЯШИН И ДРУГИЕ)

The review of the monograph notes the author’s conclusions as the most original and scientifically novel (regarding the public impact on convicts as a way of implementing public-private partnership in the penitentiary sphere, foreign experience, economic and legal aspects of resuscitation of exile as a type of criminal punishment, the activities of business entities and religious organizations, as well as the correctional and preventive orientation of the considered the Institute in the execution of various punishments , etc . D.), as well as its possible drawback (insufficiently extensive study of the interaction of institutions and bodies of the penal enforcement system with public and other non-governmental organizations in the process of re-socialization of persons released from places of deprivation of liberty). The general conclusion is made that the monograph contains relevant recommendations on changing penal enforcement and other legislation, creative solutions to theoretical and practical problems in the field of execution of criminal penalties and is worthy of publication.

Appointment of forensic examinations in the course of investigation of criminal offences related to raiding

Establishment and development of the economic security of the state requires taking effective measures to counteract and minimise the negative impact of criminal offences that encroach on public relations in the areas of economic activity, legal activities of business entities, professional activities of public administration entities, etc. Among such criminal offences, much attention is paid to those with signs of raiding, i.e. those related to the unlawful takeover and seizure of property, assets of enterprises, institutions, organisations, corporate rights to them and other resources, encroachment on the rights of owners or authorised persons of business entities of various forms of ownership, etc. An important role in proving and clarifying the circumstances to be proved in these criminal offences is played by expert opinions. Given the insufficient elaboration of the issues related to the appointment of forensic examinations in the course of investigation of criminal offences related to raiding, the purpose of the article is to define the range of forensic examinations which are appointed during the pre-trial investigation of the latter, and to clarify the specifics of their appointment. To achieve this goal, the article uses a range of general scientific methods, as well as some philosophical and special research methods, in particular, analysis, synthesis, systemic and structural method, forecasting method and dialectical method.
 Based on the results of the analysis of the investigative and judicial practice of investigating criminal offences related to raiding, it has been found that the typical expert examinations which are appointed during their investigation are forensic technical examination of a document, forensic economic examination, and forensic handwriting examination. It has been generalised that they are appointed in every second criminal proceeding of the type under study.
 The author identifies the factors which should be taken into account when deciding on the necessity and expediency of appointing a forensic examination during a pre-trial investigation. The article also identifies the mistakes made by the prosecution when appointing the specified types of qualified specialised investigations. Given the nature of raiders’ actions, the processes taking place in society and in the professional activities of individual participants in social relations, the author outlines the prospects for further scientific research.

Realization of the fiscal and regulatory potential of the corporate income tax

The subject of the study is the fiscal and regulatory possibilities of corporate income tax, its structural elements and their impact on the economic activity of business entities. The purpose of the study is to identify possible ways to expand the use of the fiscal and regulatory potential of corporate income tax as an important tool for stimulating economic activity. The paper provides an assessment of the level of corporate income tax revenues to the budget system of the Russian Federation, analyzes the factors constraining the realization of its fiscal potential. Special attention is paid to the analysis of corporate income tax revenues based on the materials of one of the subjects of the Russian Federation with a low level of production and investment potential – the Republic of Dagestan. The conclusion is argued that despite the excess of the growth rate of income tax to the budget over the overall growth of tax revenues, the potential for increasing budget revenues due to an increase in the tax burden has been exhausted. Considerable attention is paid to the instruments for stimulating investment activity provided for by the current tax legislation on corporate income tax. The need to achieve the set research goal led to the expediency of using a set of different methods and techniques: the transition from the general to the particular, logical inference, observation, generalization, systematization, comparison, factor analysis, synthesis, a systematic approach. The research is based on official analytical data from the Federal Statistics Service of the Russian Federation, the Federal Tax Service of Russia, as well as the Office of the Federal Tax Service of Russia for the Republic of Dagestan. The scientific novelty of the study is to develop a set of recommendations aimed at realizing the fiscal and regulatory potential of income tax in the context of stimulating investment activity of organizations and reducing tax risks. The conclusion is substantiated that it is necessary to achieve an increase in corporate income tax revenues not by increasing the fiscal burden, but by fully realizing its regulatory potential as a tool to stimulate economic activity. Recommendations are formulated aimed at improving the investment tax deduction for corporate income tax as a tool to stimulate the acceleration of the renewal of worn-out fixed assets. It is noted that strategically important internal reserves for increasing income tax revenues can be both the growth of the tax base due to the intensification of economic activity of the subjects of the Russian Federation, and comprehensive solutions aimed at reducing tax risks.

ACCOUNTING OF CAPITAL RESERVES AS A RISK MANAGEMENT TOOL FOR PROTECTING THE CAPITAL OF THE ENTERPRISE

The activities of business entities are conducted in conditions of uncertainty, which leads to the emergence of various types of business risks. The accounting system plays an important role in the information provision of risk management.Reliable accounting data can be a reliable source of information when making decisions on economic risk management both by the managers of the enterprise and by other parties interested in its activities.The article is devoted to the study of the accounting provision of capital reserves as a risk management tool for the protection of the capital of the enterprise.In the classification of capital reserves, an additional feature is distinguished by the identification of risks for the management of which the reserves are formed. It has been established that the risks of enterprises are the subject of the formation of reserves, and therefore it is advisable for the enterprise to create specific types of reserves that are necessary to cover the types of risks that are inherent in its activities.

Development of a mechanism for information security risk management of transport service provision systems

The object of the study is the process of analysis, assessment, and management of information security risks in transport service provision systems. The problem of applying the information security risk management approach in the activities of transport business entities was investigated. As a result of the application of effective forms, methods, and means of information security risk management based on international standards, a risk management mechanism was developed. The risk assessment process of transport systems has been systematized. This allows business entities in the transport sector to determine ways to prevent and counter information threats and challenges in their activities, both when designing and operating systems for providing transport services. Verification of the devised methodical approach to information security risk management was carried out on an example of the taxi company «Taxifay N». Threats and challenges of the company’s information system were evaluated by an expert method. Based on the results of the analysis of expert risk assessment, it was found that the concordance coefficient (0.86) confirms the high level of agreement of experts’ opinions. As a result, the company’s information security risk management program was developed. The effectiveness of the program was assessed by the efficiency ratio, which was 0.64. This testifies to the effectiveness of the implemented program of measures to manage information security risks. The scope of application may be the activity of business entities that provide transport services to the population, aimed at data storage and processing. The prospect of this study is to expand the list of threats and categories of vulnerabilities depending on the characteristics of the economic activity of various enterprises

Потенціал розвитку фінансового лізингу в Україні

In modern conditions, the market of financial leasing services occupies a prominent place in the economy of developed countries. Financial leasing is a kind of symbiosis of lending and renting, it has a number of sig­nificant advantages for ensuring and expan­ding the activities of business entities due to the replenishment of their investment income, a convenient source of financing, the possibility of using modern and often expensive equipment without significant costs, modernization of production and normalization of the financial and economic state of business, which invi­gorates the development of the country’s economy as a whole. In Ukraine, despite 30 years of development, financial leasing has repeatedly encountered difficulties, including the problems of the origin and formation of the leasing services market (90s), imperfect legislation, the decline during the financial crisis and post-crisis recovery, and currently – fun­ctioning in the conditions of war. The economic instability of the past years and the conditions of the present significantly affect the pace of development of the leasing industry, and therefore its recovery is currently a matter of time. The growth of the financial leasing market in conditions of a pandemic, economic recession and martial law makes it necessary to have a clear mechanism for regulating leasing acti­vities. The priority reference point is the European experience, the study of which in the framework of strengthening the innovative focus of the development of the domestic economy will make it possible to choose a relevant model of the functioning of the modern financial leasing market. The aim of the article is to determine the regulatory requirements in the field of leasing activity, the key vectors of the development of the domestic market of financial leasing services in the context of European integration. To achieve the aim, scientific methods of analysis, synthesis, systematization, graphic and generalization were applied. It was established that, despite a number of problems, the leasing market of Ukraine still has all the prospects of becoming one of the powerful markets of the Central and Eastern Europe region. In this direction, it is urgent to strengthen financial literacy among the population and business entities regarding the understanding of leasing as an innovative way of purchasing equipment and a flexible business financing tool, ensuring an increase in the level of penetration of leasing into the domestic economy, expanding the spheres of attracting external financing, developing state programs, developing vendor financing.

Depreciation Policy of Enterprises in Optimization of Profit Taxation

In conditions of insufficient own funds, the absence of external sources of investment financing, and a significant proportion of unprofitable enterprises, the role and importance of depreciation charges as the most sustainable source of financial resources of the organization increases. The importance of profit increases not only for enterprises, but also for regional budgets, since income tax is one of the important sources of their income. The article examines depreciation policy as an integral part of business financial planning and management. The study showed that in the regions a small number of enterprises use the opportunities provided by Chapter 25 of the Tax Code of the Russian Federation to optimize income taxes through an active depreciation policy, the relevance of which increases due to the obsolescence of the equipment fleet at enterprises and the low level of its renewal. The purpose of the article is to study depreciation policy and the extent to which optimization methods are used in the regions. The study used methods generally accepted in economics: analysis and synthesis, grouping, generalization, dynamics, tabular, etc. The study is based on official data from Rosstat, the Ministry of Finance, etc. The results of the study can be used in developing depreciation policy at the enterprise as part of the accounting policy for the purposes taxation. The study established: depreciation policy has not yet become an effective tool for stimulating investment activity in the activities of business entities.

Legal Regulation of the Cloud Services Market of Ukraine

Based on the analysis of the economic state of the cloud services market and trends of its development, it was concluded that cloud technologies have a significant impact on the activities of business entities, as well as state administration bodies of all developed countries of the world.
 It was established that the cloud services market of Ukraine is at the formation stage, which is connected with the unsatisfactory economic condition of business entities due to the military aggression launched by the Russian Federation.
 The current state of legal security of the cloud services market of Ukraine is studied; at the same time, it is substantiated that the Law “On Cloud Services” adopted by the Verkhovna Rada of Ukraine in February 2022 only lays the foundations for its legal development and further formation of a legal framework aimed at the comprehensive regulation of the relations arising from the provision and consumption of cloud services under market principles.
 It is emphasized that for proper implementation of the Law provisions, the approval by the Cabinet of Ministers of Ukraine of a number of subordinate legal acts is required, namely: structure and order of the formation and use of electronic catalogs of cloud services and services of data processing centers; requirements to the providers of cloud services; procedure for providing cloud services related to the processing of the state information resources; procedure for the proposals development for the use of cloud services by state authorities, as well as a standard contract that must be concluded between the providers and users of cloud services.
 Criteria for the quality and safety of cloud services that must be guaranteed by their provider, in case of crisis situations and cyber attacks, are proposed. 
 The expediency of supplementing the Law of Ukraine “On Cloud Services” with the provisions that empower the regulator of cloud services to inspect the providers of cloud services in the event that they provide the regulator with incomplete of false information, as well as to make requests that are mandatory for consideration by other addressees, is substantiated.
 It is proposed to introduce legal liability of the officials of state bodies in case they do not return to Ukraine state information databases and their backup copies within six months after the termination or cancellation of the legal regime of martial law.
 
 Keywords: cloud services, cloud computing technologies, cloud servers, regulator in the field of communication services

ANALYSIS OF SYSTEM TAXATION TO LATVIA: BASIC LINES AND ESSENTIAL ASPECTS FOR MODERNISATION OF TAX SYSTEM OF UKRAINE

The article considers the taxation system and its impact on the intensification of entrepreneurial activity, conducts a comparative analysis of the current taxation systems of Latvia and Ukraine, highlights their shortcomings, advantages, impact on the development of the country, activities of business entities and welfare of citizens, analyses the tax administration procedure and the mechanism of taxation by direct and indirect taxes. The issue of using foreign experience of tax reforms in the framework of harmonisation of the Ukrainian tax system with the global one is extremely relevant, especially in the current economic environment. As a result of the study, the author analyses the current tax legislation of Ukraine, which is embodied in the provisions of the Tax Code, in comparison with the tax legislation of Latvia. Using the model of the Latvian taxation system as an example, the author substantiates its effectiveness when using a sufficiently high level of tax deductions. To achieve this goal, the author analyses the state of the Latvian taxation system in 2017–2023, and studies the economic freedom index of Latvia in dynamics and its impact on the development of entrepreneurial activity. It is noted that the taxation process should contribute to the implementation of employment policy, influence the distribution of income in the direction of ensuring equity, and create a barrier to the use of shadow tax schemes. Prospects for further research in this area are the development of measures to improve the domestic taxation system.

СОЦІАЛЬНА ВІДПОВІДАЛЬНІСТЬ АГРОБІЗНЕСУ ТА ESG ПРАКТИКА ЯК СПОСОБИ ДОСЯГНЕННЯ ЦІЛЕЙ СТАЛОГО РОЗВИТКУ

The need to solve the problems of sustainable development and gain strategic competitive advantages has led to the active dissemination of socially responsible business initiatives. This is also highly relevant for the agri-food sector, the role of which is vital for the global tasks of sustainability and the national economy of Ukraine. The article examines the main essential features of social responsibility of business and modern ESG practice in the example of the agricultural sector. Studies have shown that corporate social responsibility (CSR and ESG) is an example of a modern sustainable management business model with standard features. Both models aim to raise the level of corporate culture and achieve sustainable development goals. At the same time, the key feature of corporate social responsibility is its qualitative dimension, while the characteristic feature of ESG is qualitative assessment. ESG management practice is one of the priorities for Ukraine's agricultural business. It creates opportunities to achieve competitive advantages in attracting additional financial flows necessary for the sustainable development of agriculture and rural areas. The strategic bonuses formed for agricultural companies by using the principles of CSR and ESG in practice are defined. Among the main ones are: building up the image capital of agricultural companies; increasing market share; rapid and effective response to climate change risks and other environmental and social business risks; improving the understanding of future business development opportunities and finding effective mechanisms for their use; increasing the level of investment attractiveness of business. The key indicators for assessing the ESG rating in the context of three factors are studied: economic, social, and managerial. The current trends and social responsibility problems of Ukraine's agrarian business are analyzed. It is determined that voluntary, socially responsible initiatives take place mainly in large-scale agricultural companies. The potential possibilities of the influence of ESG practice on the financial results of agrarian formations are determined. The main promising directions and tools of CSR and ESG in the activities of business entities in the agricultural sector are outlined.

МАРКЕТИНГОВЫЕ РЕШЕНИЯ ПРИ УПРАВЛЕНИИ ИНВЕСТИЦИОННЫМ ПОРТФЕЛЕМ КОММЕРЧЕСКОГО БАНКА

Investments occupy an important place in ensuring the financial stability and efficiency of a commercial bank. Marketing analysis of the stock market makes it possible to make a management decision on the formation of an optimal investment portfolio. This helps to provide competitive advantages over other credit institutions and expand its share in the financial market. The development of marketing activities is carried out taking into account the formation of a financial strategy and ensuring profitability from active operations. The obtained data on the dynamics of sectors of the economy make it possible to form a strategy for investing profitable organizations. The structure of the investment portfolio changes under the influence of ongoing changes in the economic and financial activities of business entities. Consistent optimization of the investment portfolio is related to the financial activities of the commercial bank and is determined by the phases of development of operational work.

Антикорупційний аудит: поняття, види та елементи

The prosperity of corruption, especially during the war, is one of the threats to Ukraine's national security, political stability and economy. International audit practice shows that anti-corruption audit is an effective tool for combating corruption and financial fraud. The article aims to distinguish the concepts of anti-corruption audit and anti-corruption compliance, to disclose the types of anti-corruption audit and its elements, and to determine the place and role of anti-corruption compliance in detecting and preventing manifestations of illegal corruption actions. Based on the analysis of the essence, two types of anti-corruption audit are distinguished: internal and external, which makes it possible to determine their differences and areas of application. In scientific literature, anti-corruption audit is often equated with anti-corruption compliance, which, in our opinion, is a component of internal anti-corruption audit. This conclusion follows from the general interpretation provided by the International Compliance Association and from the ideology of compliance, which involves compliance with the internal policies and procedures of the business entity. The elements of an anti-corruption audit are defined based on the provisions of international normative acts, the specifics and requirements of the activities of international organizations; however, for Ukrainian practice, it is appropriate to distinguish its main and additional elements based on the specifics of the activities of business entities and public sector entities. The main elements are mandatory for private and public sector entities, and additional ones depend on the field of activity and the level of corruption risks in the surrounding environment. The interpretation of the term anti-corruption audit proposed in the article, the definition of its differences from anti-corruption compliance and the identification of its structural components will contribute to constructing an effective system of combating fraudulent and corruption schemes in the private and public sectors of the Ukrainian economy.

Adaptation Capacity Management of the Passenger Air Carrier as a Participant in the Tourism Product Creation Process

The paper provides a critical analysis of researches related to the definition of different types of business opportunities, general approaches to adaptation management, adaptation potential management of transport and tourism enterprises. The choice of air carriers as the object of study was due to the greatest difficulty in managing their adaptation potential, and their key impact on the tourism product. The prerequisites for the adaptation of air carriers to the global tourism market were determined. It was noted that the adaptation capacity of enterprises has its own characteristics depending on the scope of activity of business entities. The scientific novelty is formed by the defined sequence of the procedure and the stages of air carrier adaptation to the conditions of the world tourism market. For the first time, a set of measures to adapt air carriers to the global tourism market was proposed. Intensification of tourism market participants’ interaction will provide an opportunity for global expansion of the tourism product.

IMPACT INVESTMENT IN POST-WAR UKRAINE

To restore the economy of Ukraine in the post-war period, it is expedient to work out applicable communication tools with investors. With respect to the global market, there is a noticeable trend towards an increase in impact investments in 2016-2022 by $ 1,050 billion or in other words, 10.21 times. The rapid growth of impact investing at the global level testifies to the significance of investments aimed at achieving the provisions of the concept of sustainable development. The purpose of the study is to elaborate theoretical and practical provisions for information support of impact investing in order to attract financial resources to restore the economic activity of business entities in the post-war period in compliance with the sustainable development guidelines. Having conducted a study of the published non-financial reporting of large and medium-sized industrial enterprises of Ukraine, it was found that only 22.7% thereof prepare a Sustainable Development Report annually. With respect to the selected enterprises group, 91% prepare a management report in an arbitrary form and publish it on their official website. Having conducted a study of published nonfinancial reporting of large and medium-sized industrial enterprises in Ukraine, it turned out that only 22.7% of them annually prepare a Sustainable Development Report. In the selected group of enterprises, 91% prepare a management report in any form and publish it on their official website. However, given the arbitrary form of information presentation, investors cannot fully obtain up-to-date information about the company’s social policy and environmental activities. In addition, the formation of reporting on issues of sustainable development and social responsibility has not yet become widespread among Ukrainian enterprises, which hinders the development of impact investing in Ukraine. Especially with regard to increasing the investment attractiveness of Ukrainian enterprises, the structure has been clarified and meaningful recommendations have been developed regarding the information content of the Management Report, which will contribute to increasing the transparency of reporting and attract influential investors.

Methodical approaches to valuation of intangible assets

Intangible assets in the activities of business entities can constitute a significant part of assets. Their valuation can be done in several ways, which are fundamentally different. Literature offers several methods for valuing intangible assets, which are based on three basic approaches. Each of them captures the value of the property based on different specific characteristics. The issue of intangible assets is also addressed by international accounting standards, the task of which is to guide the accounting and reporting of this type of assets so that the financial statements provide correct and complete information that is comparable on a global basis.

FOREIGN ECONOMIC ACTIVITY IN THE INDUSTRY AND AGRICULTURAL SECTOR OF THE TRANSCARPATHIAN REGION

European integration processes, which are inherent in the development of the regions of Ukraine today, contribute to increasing the value and importance of foreign economic activity of business entities. Transcarpathian enterprises absorbed in the process of European integration face the need to adapt their strategic potential to the conditions of cooperation and partnership with border and cross-border European neighbors. Ready to start the procedure for Ukraine's accession to the EU. Keywords: foreign economic activity, export-import operations, agrarian sector of Transcarpathia, European integration, shadow foreign economic activity