Amount Of Liability Research Articles

Про концепцію соціальної відповідальності бізнесу та унормування відповідальності материнських компаній

The article identifies various areas of violations of human rights and freedoms by industrial companies, which require an adequate response from the legislator. The experience of French and German law in protecting human rights and freedoms from the adverse impact of economic activity may be useful. This also applies to the liability of a parent company for the actions of its subsidiaries, given the existence of control over the activities of the latter, and the adoption of decisions that indicate the level of influence they exert. Despite the fact that economic freedoms are currently prioritized over social interests, social responsibility of business is becoming increasingly important. The article focuses on the issues of determining the type, amount of liability and assessment of violations identified in the course of analyzing the case law in disputes on social responsibility of business in the presence of a negative impact on human rights and freedoms. The author analyzes the tort liability of legal entities for human rights violations, noting that it is characterized by pecuniary compensation. In the absence of actual damages, the tort liability of companies loses its meaning. The case law of the European Court of Human Rights and Ukrainian court practice does not provide for compensation for the mere fact of interference or the mere existence of a negative impact on human rights and freedoms by a business entity. This makes it necessary to find other approaches to respond to the negative consequences of companies’ activities. The problem is exacerbated by the fact that damage to human rights and freedoms is difficult to measure and evaluate: determining the equivalent value of a violation of the right to privacy, personal information, loss of comfort, etc. On the contrary, the practice of English courts is to award compensation to the claimants whose rights and freedoms have been violated, which distinguishes them from the tort liability of companies.

The reality of an economic transaction in tax law: problems of proof

The article is devoted to the problems of proving the reality of an economic transaction in tax legal relations. The concept of the reality of an economic transaction is absent in the Tax Code of Ukraine. However, in practice, this concept is widely used by controlling authorities during tax audits. In the way of recognizing the economic transaction as unrealistic, the controlling authorities create the prerequisites for adding to the taxpayer the amounts of liabilities that, from the point of view of the controlling authorities, were understated by the taxpayer. A significant part of cases on appeals of tax notices-decisions concerns the results of tax audits in which the transaction was recognized as unreal, so in appeal cases the question arises of proving (and vice versa, refuting) the reality of economic transactions. The available array of information on this issue needs to be organized, researched, compared and recommendations formed, in order to achieve a greater degree of legal certainty. The reality of an economic transaction is a necessary requirement for displaying the results of the transaction in the taxpayer’s tax records. The criteria of reality have been developed by judicial practice, but they need to be detailed and clarified in order to achieve legal certainty. It is the controlling body that must prove the unreality of the business transaction, however, if it provides such evidence, the tax payer has the duty to refute them. The article determines the distribution of the burden of proving the reality of economic transactions, determines the place of private law and criminal law prejudice in proving the reality or unreality of transactions. The significance of the presumption of legality of the transaction for tax legal relations is clarified, the importance of primary documents in the process of proof in such disputes is investigated, it is determined the line between the principle of individual responsibility of the payer and the doctrine of “due diligence”, recommendations are provided for supervisory authorities and taxpayers regarding proof in this category of disputes.

EFFECTIVENESS OF PARENTING SKILL PROGRAM ON CHILDS ADAPTIVE BEHAVIORAMONG PARENTS OF CHILDREN WITH INTELLECTUAL DEVELOPMENTAL DISABILITY

Background: A child brings happiness, love and joy in the family and society and if a child born with Intellectual Developmental Disability (IDD), then parenting of IDD children requires a huge amount of liability, accountability, commitment and dedication. Children with intellectual disability are having debilitate physical and mental health conditions, lower longevity1. As parents are the primary caregivers, but lives of parents of children with IDD are much more complicated and stressful as compared to the lives of non-disabled childrens parents. Methodology: Quasi-experimental Time Series Research Design was used to assess the effectiveness of Parenting Skill Program on childs adaptive behavior among parents of children with Intellectual developmental disability in selected Special Schools of Delhi NCR.The tools used for data collection included a socio-demographic proforma and the Vineland Social Maturity Scale (VSMS). Structured interviews and pre-assessment tools, such as socio-demographic proforma and the Vineland Social Maturity Scale (VSMS), were administered to both experimental and control groups in the first month. Subsequently, the parenting skills program, consisting of 12 sessions, was implemented over a three-month period, with one session per week for parents in the experimental group. At the 6th, 9th, and 12th months, structured interviews using post-assessment tools were conducted with parents from both groups. Results: The findings of the study revealed thatthere was an improvement in the mean posttest score of childs adaptive behavior over the time. Specifically, at 6th month, it increased to (53.425±8.95), followed by (52.850±9.77) at 9th month and (55.288±8.87) at 12th month when compared to baseline score (46.362±8.09).This increase was found to be statistically significant within the group (F= 163.040, p 0.001).However, the control group, showed no significant change in the mean score of childs adaptive behavior and it remained same in 6th month, 9th month and 12th month as baseline, and no significant difference was observed within the group (F= 6.00, p 0.112). Hence, it could be interpreted that parenting skill program was effective in improving the childs adaptive behavior score of children with IDD in experimental group than in control group. Conclusion:It was concluded thatparenting skill program was effective in improving the childs adaptive behavior of children with IDD.

ІНВЕСТИЦІЙНИЙ КЛІМАТ ЯК УМОВА СТРАТЕГІЧНОЇ КОНКУРЕНТОСПРОМОЖНОСТ

Abstract.The purpose of the article is to conduct an assessment of investment activity in Zakarpattia region on the basis of statistical information - an indicator of the policy of the regional authorities in the field of investment climate formation as a condition of high competitiveness.The study showed that recently there has been a sharp drop in investment activity in Zakarpattia. In 2020, the trend, which was aimed at growth, sharply went down. This indicates the deterioration of the investment climate in the region and, accordingly, the drop in the level of competitiveness of the region.The conducted analysis proves that insufficiently active investment policy in the region is due to the following reasons.First of all, in Zakarpattia, any investment, especially in the innovation field, should have a high financial return. Due to the lack of data on investments in the innovation sphere, the amount of investments in the region as a whole was chosen for analysis. As a result, an examination of the level of profitability of regional business was carried out using the indicator of the share of enterprises that received losses for the year. The share of enterprises in the region that ended the year unprofitable in 2020 is more than 25%, that is, every fourth enterprise operates without a profit. Due to the fact that the product of innovative activity, as a rule, has a high profitability, it is possible to conclude that investments in innovative activity are not decisive in the total amount of investments.Secondly, investments in innovative activity are highly risky, so the appropriate financial results should cover the degree of uncertainty and the possibility of financial fiasco.In addition, the reason for the investment climate that does not meet modern requirements is the inadequate financial condition of regional enterprises. The study showed that the region has low liquidity and solvency of enterprises. The amount of liabilities is much higher than equity, which indicates the extremely poor solvency of Transcarpathian enterprises.Low financial stability of a business is a marker of a possible pre-bankruptcy state. If the financial stability of the business is in question, the infusion of any investment is also a high-risk action, the implementation of which requires a change in management, policy, strategy, etc., which, in turn, determines the need for time and additional financial investments.Keywords:region, competitiveness, investment climate, solvency, profitability.

Оцінка ринку міжбанківських кредитів системно важливих банків в Україні

The aim of the study is to assess the state of interbank lending to the systemically important banks in Ukraine, taking into account the current conditions of functioning of the economy. The article analyzes the dynamics of the number of banking institutions for 2008–2023, identifies the causes and consequences of their significant reduction. The essence and significance of systemically important banks are determined; approaches and principles of granting banking institutions the status of systemically important (SIB) are described; special conditions for withdrawal of SIB from the market under martial law have been allocated. A comprehensive analysis of the state of interbank lending to systemically important banks in Ukraine during 2019–2022 was carried out, in particular, the total amount of interbank loans received, the activity of the SIBs to attract interbank loans (IBCs) by their share in the total amount of liabilities, by the share of IBC in the balance sheet currency and the ratio of IBC to equity during the analyzed period were examined. The results of the carried out study indicate that it is interbank loans that are characterized by a quick reaction to changes in financial market conditions. It has been determined that systemically important banks of Ukraine reduce their dependence on interbank financing, which in practice means their financial stability and strength. It is proved that the studied banks, when forming the resource base, try to avoid a high share of interbank loans both in the total amount of mobilized funds and in comparison with equity, since IBCs are the most expensive instruments for replenishing the resource base of commercial banks. Emphasis is placed on important achievements of the systemic reform of the banking sector, which led to the cleansing of the domestic market from weak and unreliable banks and the construction of a Western-style banking system in Ukraine in compliance with world standards of banking business. Thanks to proper regulation and control on the part of the NBU over the observance by commercial banks of the established norms and rules of conducting banking business, the domestic banking system steadfastly endures all modern challenges and even in conditions of a full-scale war proves its financial stability and reliability, maintaining customer trust and recognition of international partners.

GʻURTASI BAZAVIY TARIFLARI VA MAJBURIYATLARINI MUVOFIQLASHTIRISH MODELI: TOSHKENT SHAHRIDAGI TURARJOYLAR MISOLIDA

This article provides the analytical data for the coordination of basic tariff rates of housing insurance by insurance companies, in particular, a small number of takoful companies operating in Uzbekistan, using its square footage in the assessment of housing. Taking into account that the maximum amount of liability that an insurance company takes in property insurance is the market price, the results of this research will allow insurance (takoful) organizations to determine the maximum limits of their obligations

Аналіз і характеристика звіту про платежі на користь держави на прикладі видобувних компаній

The article analyzes the activities of enterprises in the oil industry and highlights the main powerful oil producing companies of Ukraine. In the course of the analysis, it was found that the State receives a large share of tax revenues in the budget from extractive industry enterprises. The reason for this phenomenon is the presence of a large number of mineral deposits located on the territory of Ukraine. The standard and reports of the Extractive Industries Transparency Initiative (EITІ), which provide high-quality disclosure of information on the state of affairs in the country’s extractive industry and transparency in the management of natural resources, are analyzed. The main characteristics and features of reports on payments in favor of the State are determined (the items analyzed were: form, content, reporting period, financial indicators, number of employees, frequency of submission, publicity, terms of publication, subjects of inspection). The legal regulation, in particular the Law of Ukraine «On Ensuring Transparency in Extractive Industries», the preparation of such reports, the types and amount of liability for failure to prepare reports on payments in favor of the State are analyzed. The analysis showed that the application of fines and the implementation of domestic legislation positively affects the regularity and correctness of reporting on payments in favor of the State. The implementation of legislation and the development of recommendations for writing a report of companies in the oil sector allows to publish information indicating not only the amount of the State budget revenues, but also the quality indicators of the activities of such companies. The world experience of using tax revenues to local budgets is analyzed, which leads to rational and fair distribution of funds in the interests of all parties to the process of consumption and use of natural resources. According to the analyzed reports of oil-producing foreign companies, the main ways and directions of application of tax revenues and their effectiveness are identified.

Research of the relevance of changing the liability limit of freight forwarders in selected countries

The most important component of the forwarding contract is the definition of the freight forwarder's liability limit. Given the absence of international legislation regulating forwarding activities, the limitation of liability of freight forwarders of different companies is not unified. An important step towards setting the limit of compensation to the client is the creation of standard forwarding conditions by national associations of freight forwarders, which offer a total amount of liability for their members. To determine the relevance of the current limits of liability, the authors conducted a survey of representatives of forwarding companies that are members of two associations – Association of Logistics and Freight Forwarding of the Slovak Republic and The Association of Forwarding and Logistics of the Czech Republic. The topic of the survey was to identify the demand from customers to establish a liability limit in the forwarding contract that exceeds the limit set by the association of freight forwarders. A survey was also conducted on the need to change the liability limit from the point of view of freight forwarders. The study showed that there is a demand from customers for an increased freight forwarder's liability limit, although it is not extremely high. In turn, most of the freight forwarders interviewed claim enough liability. The results suggest the possibility of considering ways to change the current limits of liability.

합성생물학 위험에 대한 민사책임법적 대응

This paper deals with issues related to the concept and characteristics of synthetic biology(engineering biology), its usefulness and risks, the regulation and management of risks, and the relief of damages caused by the manifestation of risks. In particular, civil liability issues that may arise in the course of synthetic biology research and its industrialization were reviewed.
 Due to the nature of synthetic biology, it is realistically impossible to prevent all damages incurred in the process even if the operator of the technology fulfills the duty of care in operation. Damage relief through the application of the general illegal liability provisions and the Product Liability Act based on the principle of negligence liability cannot be an effective means due to the difficulty of proof, the limited scope of application, and the possibility of exemption through defense of development risks. It may also be considered to reduce the victim's burden of proof through interpretative theories such as presumption of negligence and shifting the burden of proof.
 However, in the field of high-level science and technology, it can harm legal stability because there are considerable difficulties in proving fault and making judgments.
 Damages caused by risks inherent in synthetic biology technology should be compensated through laws of risk liability. In the course of research and technical operation of synthetic biology, a person who controls and manages a risk source (Gefahrquelle) is liable for damages even if he or she is not at fault in the event that the risk materializes and infringes on the legal interests of others, which is consistent with the idea of fairness. Due to the nature of synthetic biology and genetic engineering, unlike product liability, the defense of development risk is excluded, but the assumption of causal relationship must be acknowledged. Regarding the establishment of the maximum amount of liability, considering the structure of the Damages Compensation Act, which takes the principle of limited compensation, it is judged that it is right not to limit it.
 No legislation has been enacted on risk management and regulation related to synthetic biology. In the LMO Act, there is no provision for liability for damages. Right now, it can be said that it is realistic to establish new regulations in the LMO. In addition to enhancing global industrial competitiveness through the use of synthetic biology technology, it is also a challenge to respond to legislation related to risk management, regulation, and damage relief.

О некоторых проблемах квалификации правомерного причинения вреда при экоделикте

The issues related to the negative impact on the environment with the permitted use of natural resources, when the user of natural resources has a permit for nature use and a construction project that has passed the procedure for agreeing on the state environmental review, are being investigated. The purpose of the paper is to establish the possibility of qualifying the actions of a nature user within the framework of his permitted activities as lawful infliction of harm to the natural environment. The injustice and unacceptability of the approaches formed in law enforcement practice on imposing responsibility on any user of nature for harm caused to the environment in the process of carrying out permitted economic activities is revealed. In the comparative legal aspect, the inquisitorial nature of approaches in domestic law enforcement is substantiated, which contradicts modern legal guarantees for ensuring the functioning of business, which are characteristic of foreign legal orders. There is an unfair distribution of the burden of proof and the establishment of de facto legal presumptions not provided for by law in relations from environmental torts. In order to establish the fair liability of the tortfeasor, when considering cases of environmental torts, it is necessary to take into account the fact that state regulatory authorities have issued a permit for subsoil use, because such an act authorizes the use of natural resources and, accordingly, allows for environmental degradation. In the article, the author formulates the criteria for lawful infliction of harm and factors that should affect the amount of liability of the nature user in connection with causing harm to the environment.

LEGAL REGULATION OF THE AIR CARRIAGE CONTRACT: CURRENT ASPECTS

The article examines international and national legislation regulating air transportation, in particular, international acts (the Montreal, the Warsaw Conventions, etc.), federal legislation (Air. Civil codes, etc.), and subordinate legislation (Federal Aviation Regulations and local acts of air carriers). One of the latest significant changes in the air transport area is related to the accession of the Russian Federation to the Convention for the Unification of Certain Rules for International Carriage by Air, adopted in Montreal. The relevance of the topic is beyond doubt, because in modern conditions, it is important for each individual and collectives to be mobile, and air transport is capable of providing the fastest and most comfortable delivery from one point to another in a short period of time. Much attention is paid to the analysis of the carrier's liability, because at the moment the carrier bears only fault-based liability for the flight delay and other damage caused, and is discharged from the liability only in case of force majeure circumstances, as confirmed by numerous examples of judicial practice. The author draws a conclusion about the increase in the amount of liability for the delay in delivery of goods, passengers and luggage.

RELEASE AND DISCHARGE AGREEMENT IN THE COMPENSATION SETTLEMENT BY AIRLINES COMPANY (A NATIONAL AND INTERNATIONAL LAW PERSPECTIVE)

This paper analyses the rules and implementation regarding the Release and Discharge Agreement in the compensation settlement process by airlines company based on national and international law. The results show that this release and discharge agreement is not per Article 186 of the Aviation Law, which regulate that the carrier as a business actor is prohibited from making special agreements or requirements that negate the carrier's responsibility or determine a lower limit than the current compensation limit. According to international law, this release and discharge agreement does not follow Article 26 of the 1999 Montreal Convention, which regulates that airlines companies are not allowed to form contracts that may reduce or eliminate the amount of liability. Hence, obstacles arise in the ccompensation settlements when using Release and Discharge Agreement documents, the method of airline liability, and proving the cause of the accident to exclude the payment of compensation settlements to passengers. It is recommended to improve the rules related to the carrier's responsibility to ensure that passengers could get their rights according to the provisions contained in the legislation and maximize the implementation of international conventions related to aviation that have been ratified into national regulations. Keywords: Compensation, Liability, Release and Discharge Agreement, Airline Company, Passenger.

ОБЛІКОВЕ ЗАБЕЗПЕЧЕННЯ УПРАВЛІННЯ ДОВГОСТРОКОВИМИ ЗОБОВ’ЯЗАННЯМИ ПІДПРИЄМСТВ

The article reveals the nature, recognition and evaluation of long-term liabilities, their composition, summarizes the method of accounting for long-term liabilities and disclosure of information in the financial statements, based on which the company makes management decisions. The purpose of the article is to substantiate the theoretical and methodological provisions and develop practical recommendations aimed at improving the accounting support for long-term liabilities. The article will reveal information about the nature and evaluation of long-term liabilities. Valuation of liabilities can be measured reliably, and the future benefits of reducing those liabilities may decrease. This paper presents the composition of long-term liabilities in accordance with NP (S) BU 11 "Liabilities" and the Chart of Accounts. Correspondence of accounts on accounting of long-term financial lease liabilities, bonds sold at a premium and at a discount, promissory notes in national currency will be considered. In modern conditions, enterprises are one of the main sources of financing of economic activity, so the use of obligations effectively (or productively) affects the activities of enterprises. The issue of accounting for accounts payable (long-term and current) is relevant for enterprises, because the financial condition of the enterprise largely depends on the effective management of this type of debt. The question of timeliness of settlements between business entities is acute. Failure to repay liabilities, including long-term ones, leads to the accumulation of such debt and the depreciation of funds for creditors, which adversely affects the financial condition of the enterprise. The solution to this problem is possible under the conditions of effective management of long-term liabilities based on the analysis of information generated in the accounting system for reflection in the financial statements. The information on methodological bases of formation in the account of obligations and their disclosure in the reporting which is regulated by the legislative base is presented. Long-term liabilities are reflected in the liabilities of the balance sheet at their present value in Section II, and the notes to the financial statements provide information on the list and amounts of liabilities. Based on this reporting, the company can make management decisions.

Правовое регулирование «розничных» инвестиций на финансовых рынках

The subjects of the research are the state of legal regulation of the protection of the rights of private investors in financial markets, the construction of legal mechanisms for the protection of retail investors, contractual and judicial practice in the field of retail investments, the impact of the quality of legal protection on improving the quality of life and the formation of human capital. The objectives of the work are to identify and establish the most unfair practices in the contractual consolidation of relations between professional financial intermediaries and retail investors in the financial markets, to determine the optimal ways to protect private investors and adapt existing legal means to improve the quality of protection of the rights of private investors. In the course of the study, the most dangerous norms found in the contractual documentation of professional financial intermediaries were identified, such as the imposition of risks on the retail investor; the release of the intermediary from any liability (including limitation of the amount of liability). The most unfair practices related to the limitation of liability of intermediaries have been identified. It is concluded that the best way to protect retail investors in private law is to apply the doctrine of fiduciary duties of a financial intermediary, including by establishing certain presumptions that encourage him to comply with "trust" obligations, as well as by changing procedural approaches to the consideration of litigation involving retail investors.

ПОКРИТТЯ ІНФОРМАЦІЇ У ФІНАНСОВІЙ ЗВІТНОСТІ: ПРАКТИЧНИЙ ДОСВІД ЗАСТОСУВАННЯ МСБО І МСФЗ

Анотація. Інформаційні запити глобалізованого суспільства змушують суб’єктів господарювання формувати фінансову звітність, здатну задовольними вимоги всіх зацікавлених сторін. Мета статті — оцінити, яку інформацію суб’єкти господарювання розкривають у фінансовій звітності, складеній за МСБО і МСФЗ, та які колізії при цьому виникають. Теоретико-методологічні аспекти результатів діяльності вчених доводять значущість розкриття інформації у фінансовій звітності, складеній за МСФЗ. Разом з тим відкритим залишається питання розкриття інформації у фінансовій звітності, з урахуванням потреб поточної діяльності підприємств. З огляду на це постає потреба: дослідження забезпечення користувачів фінансової звітності інформацією, розкриття якої передбачають міжнародні стандарти; перевірка гіпотез щодо існування необхідності дослідження відмінностей видів фінансової звітності, формування і подання якої передбачають МСФЗ і МСБО, та перегляду довгострокового зобов’язання в разі його дострокового погашення. На основі аналізу встановлено, що інформацію, обов’язкову до розкриття у фінансовій звітності, обумовлює вид фінансової звітності. Проведене дослідження свідчить про наявності в МСФЗ прогалин у порядку складання та інформаційного наповнення комбінованої звітності. Запропоновано комбіновану фінансову звітність складати суб’єктам господарювання, які з тих чи інших причин не відповідають вимогам МСФЗ 10. Установлено, що важливою умовою достовірного відображення у Звіті про фінансовий стан інформації щодо довгострокового кредиту є необхідність проведення аналізу здатності підприємства його дострокового погашення, зокрема протягом року. Запропоновано розглядати частину довгострокового кредиту у формі платежів, які слід погасити протягом дванадцяти місяцівз дати складання звітності як поточне зобов’язання. Такий підхід потребує перекласифікувати наявний кредит із довгострокового в поточні зобов’язання, що призведе до подальних змін оцінок грошових потоків, коригування балансової вартості зобов’язань. Результати дослідження можуть бути використані практиками в різних галузях економіки при формуванні фінансової звітності за МСФЗ. Ключові слова: фінансова звітність, звітність за МСФЗ, фінансові результати, підприємство, стандарти, облік, МСФЗ, МСБО. Формул: 0; рис.: 1; табл.: 1; бібл.: 19.

Does Bank Resolution Rule out the Use of Public Funds? The Case of the Podkarpacki Bank Spółdzielczy

On 15 January 2020 Polish resolution authority made a decision to launch the resolution of a regional cooperative bank. The aim of the resolution was to maintain the service of local government units, considered as the critical function of the bank. The tool used was a bridge bank combined with bail-in to subordinated bonds and unguaranteed deposits, including deposits from local government units. The author is of the opinion that the write-off deposits from public entities was a substitute of the insufficient amount of liabilities contractually eligible for bail-in, served as the instrument enhancing credibility of resolution as well as protecting other creditors from excessive losses (i.e. mitigating contagion risk). The presented case of bank resolution, has been assessed as an example of intentionally bending of the stiff BRRD rules to an unusual case to find the practical, socially acceptable solution. By comparing this case with resolution of other small banks in the EU, the author argues that national authorities seek to limit the scope for bail-in and try to use the financial arrangements within the resolution of small local banks as more secure for the banking sector and socially acceptable manner.

Should Liability Insurance Be Compulsory for Bicycle Accidents?

Abstract This study examines whether the introduction of compulsory bicycle liability insurance is socially desirable when evaluation bias—the difference between the objective and subjective evaluations of liability amounts—exists. The main results of this study are summarized as follows. First, when there is no evaluation bias, the introduction of compulsory bicycle liability insurance is socially desirable when the interest rate is high without any condition, and the loading rate is low, the maximum amount of liability is small, and the effort cost is high if the loading rate is higher than the interest rate. Second, if there is an evaluation bias and the accident probability is uniformly distributed, more severe additional conditions are needed for deriving the same results. The study concludes that the evaluation bias prevents the realization of the situation in which the introduction of compulsory bicycle liability insurance is socially desirable.

ВПЛИВ НА ЛІКВІДНІСТЬ ГРОШОВИХ ПОТОКІВ УСЕРЕДИНІ БАНКУ

The purpose of the article is to determine an objective approach to the funding of assets from various resources and to assess the impact of cash flows within a bank on its liquidity position. Methods of theoretical generalization and comparison to define an economic substance of the bank asset and liability management, a systematic approach to consider the management of assets and liabilities as interrelated elements of a single system; the method of analysis and synthesis to study liquidity indicators, the method of tabular presentation of data, and the abstract-logical method to substantiate theoretical generalizations and conclusions were used. The issue of maintaining liquidity during the global downturn requires priority attention from the management and analytical service. Central banks of all countries in the world establish, maintain strict control and regulate various indicators of bank liquidity, trying to avoid a banking crisis, since the bankruptcy of one or several banks may lead to destruction of the payment system and cause major problems in the economy. Most modern banks which are focused on long-term activities, when resolving “profitability – liquidity” dilemma, give preference to ensuring a sufficient level of liquidity even in the face of a possible loss of certain income. Despite constant changes and improvements in the liquidity ratio system, modern banks mainly use accounting data for the liquidity ratio calculation disregarding the analysis of the bank’s cash flows which should be carried out in accordance with the basic principles of financial management, the principle of comparing asset-liability maturities and risk levels in particular. Our view is that in analyzing all banking standards and ratios, not only the ratios of various assets and liabilities should be calculated based on the bank’s balance sheet data, but also the sources of formation of certain assets from various resources should be taken into account. In our opinion, it is extremely important to have regard to the situation when the bank’s short-term liabilities (liabilities at call) form its long-term and medium-term requirements. In order to find out an actual situation with the bank’s liquidity position, we should analyze which short-term liabilities were used to form its loan and securities portfolios, as well as other risky and long-term assets. In our opinion, this can be done by making the following adjustments: 1. To reduce the amount of liquid assets by the amount of liabilities at call placed in risky assets. This approach is based on the fact that liabilities at call, which can be withdrawn at any time, are not liquid. In a situation when it is required to make urgent payments, there will be a need for urgent borrowing of additional funds. This may either be difficult to do, or it may be done at an unfavorable interest rate. 2. To increase the amount of short-term liabilities by the amount of that part thereof that was used to form long- and medium-term requirements. This will also reduce the liquidity ratio, but provide the necessary information about its actual level, taking into account the risk formation of the bank’s asset portfolio. An absolute liquidity ratio calculated using the balance sheet data was 63%. When it was adjusted assuming that the bank’s liabilities at call were placed in medium and long-term assets, a decrease by 35% was obtained after reducing the amount of liquid assets, and this figure was decreased by 20% when the amount of short-term liabilities was increased in the calculation. In order to find out an actual situation with the bank’s liquidity position, it is proposed to reduce the amount of liquid assets by the amount of liabilities at call placed in risky assets, or increase the amount of short-term liabilities by the amount of that part thereof that was used to form long- and medium-term requirements.

General principles of liability of the parties for the breach of obligations arising from the contract of carriage

The purpose of the study is to determine the general principles of responsibility of the parties for breach of contractual obligations arising from the contract of carriage, taking into account the legal positions of the highest courts of Ukraine in this category of cases. The article deals with the study of the general principles of liability of the parties for breach of obligations arising from the contract of carriage. It was found that the contract of carriage differs from other contracts for the provision of transport services, in particular, from the contract of freight forwarding, the possibility of contractual regulation of liability. It is determined that the parties to the contract of carriage, guided by the Art. 611 of the Civil Code of Ukraine, may provide in its content the following forms of civil liability: 1) payment of penalties (fines, penalties); 2) compensation for losses; 3) compensation for non-pecuniary damage. At the same time, the liability of the parties to the contract of carriage for breach of obligations is limited by the law governing the contractual relationship for the provision of transport services. Therefore, the parties may determine the form and amount of liability, unless otherwise provided by the norms of the Central Committee of Ukraine, transport codes (statutes), other laws.

CONTROLLING OF CREDIT DEBTS IN THE SYSTEM OF ANTI-CRISIS FINANCIAL MANAGEMENT

The article deals with topical issues of introduction of controlling of credit debts in the system of anti-crisis financial management of the enterprise. It is noted that effective management of credit debts of industrial enterprises in the conditions of working capital deficit taking into account aspects of its strategic development and specific tactical goals is an integrity process in general involving modification and application of alternative concepts of capital management of the enterprise which is adequate to market transformational market economy of Ukraine. It is established that the mechanism of credit debts management is a part of the overall financial strategy, which is providing the most effective forms and conditions for raising borrowed capital from various sources in accordance with the needs of enterprise development. A method of liability analysis is proposed, the main task of which is to identify signs of insolvency of the enterprise and preventing its bankruptcy. The essence of the proposed method is to study the structure of liabilities, their turnover, to determine the degree of solvency and liquidity of the enterprise, as well as to calculate the maximum amount of liabilities under the influence of such factors as profit, of enterprise and circulating expenses assets. It is noted that the optimization of credit debts is an important aspect of the enterprise, as it is an integral part of modern business. Effective management and optimization of credit debts can be a relatively inexpensive and additional source of financial resources, and, consequently, an important element of the system of anticrisis financial management of the enterprise.