Financial Condition Of Enterprise Research Articles

ФІНАНСОВИЙ МЕХАНІЗМ УПРАВЛІННЯ РИЗИКАМИ СТАЛОГО РОЗВИТКУ АГРАРНОГО СЕКТОРУ ЕКОНОМІКИ

The article considers the effectiveness of risk management in the process of implementation of agricultural activities by enterprises. Currently, all enterprises in the economic market, especially in the agricultural sector, strive to achieve the highest possible performance, guaranteeing financial stability and profitability. The nature of financial risk can be interpreted in different ways. However, one should not consider risk only as a negative factor in entrepreneurial activity. Risk is both the possibility of loss of funds and the possibility of their increase. The attempt to formulate the essence of the main risks, to summarize their types and to determine the management measures is made. The aspects of realization of risk management mechanisms occurring in the market environment have been studied. The results obtained show the importance of risk protection in the implementation of innovative technologies of agricultural production management. Conclusions are made about the effectiveness of instruments of influence on the sustainable development of the agrarian structure. Agricultural land, as well as other sectors of the economy, have characteristics that affect the specificity of the manifestation of risks. The nature of financial risks, their classification and influence on the financial condition of enterprises are considered. It is established that financial risk management is closely related to the implementation of methods of financial recovery of the enterprise, including effective financial and economic stability of the enterprise, ensuring smooth operation of economic entities, maintaining adequate rates of enterprise development and legal protection of all participants of economic activity. Proposed are steps to mitigate the influence of financial risks on the enterprise’s production outcomes. The domain of financial risk management is structured to safeguard the financial stability of the enterprise. Unlocking the potential is feasible when existing risks are countered or reduced, enabling farmers to attain an acceptable risk level. Hence, effective risk management becomes a crucial objective in overseeing agricultural sector activities.

ASSESSMENT OF THE POTENTIAL OF MANAGEMENT OF INNOVATIVE ACTIVITIES OF ENTERPRISES IN THE CONTEXT OF SUSTAINABLE DEVELOPMENT

ASSESSMENT OF THE POTENTIAL OF MANAGEMENT OF INNOVATIVE ACTIVITIES OF ENTERPRISES IN THE CONTEXT OF SUSTAINABLE DEVELOPMENT

Assessment of the Quality of Transformation of Financial Reporting of Entities According to IFRS

Background: Mandatory application of IFRS for a specified list of entities brings about additional costs in terms of material, financial and labour resources. Consequently, this encourages the search for ways to minimise costs related to the transition to IFRS adoption, that is, its formalisation. Under such conditions, the need to improve the methodological toolkit for evaluating the process of transformation of financial statements in accordance with the requirements of the IFRS is actualised. This article aims to develop a methodological toolkit for assessing the quality of the financial reporting transformation process per IFRS requirements, using Ukrainian dairy industry enterprises as a case study. Methods: The assessment of the impact of the transition to IFRS reporting on changes in the financial status of entities was carried out using statistical methods of comparison, generalisation, grouping, and coefficients. Conclusions were drawn based on the research findings employing the method of logical generalisation. Results and Conclusions: The method of assessing the impact of the application of IFRS on the financial condition of enterprises in the dairy industry of Ukraine has been improved, particularly in terms of accounting for changes in financial statements as a result of transformational adjustments before and after the date of transition to IFRS. This refinement involves employing financial coefficients as a means of assessment, facilitating the determination of the quality assessment of the process of drawing up the first financial statements of enterprises in accordance with IFRS. New methodological aspects and recommendations for assessing the quality of the transformation process in the context of the application of IFRS will ensure effective management of enterprises in the dairy industry of Ukraine, leading to an increase in the attraction of foreign investments amidst the conditions of European integration processes and the post-war period.

ТРАНСФЕР ТЕХНОЛОГІЇ В УКРАЇНІ: СУЧАСНІ ВИКЛИКИ

The article is devoted to the study of the problematic issue of technology transfer in today's conditions. Legislators and by-laws regulating relations in the field of technology transfer are analyzed. Attention is drawn to the importance of scientific technologies and their implementation in the activities of industrial enterprises, which is an indispensable development of the economic growth of many leading economically developed countries, as well as a determining factor in the progress of society and the improvement of the welfare of citizens. Informational, analytical and statistical data on the impact of technology transfer on the financial condition of enterprises, institutions and organizations in relation to budget funds are presented. Among the positive financial indicators, based on the analysis of statistical data and scientific literature, attention is drawn and problems hindering the integration of the technology transfer process in domestic industrial enterprises are identified. In particular, these are: migration of scientists; insufficient amounts of funding for innovative activities; low innovative activity of active enterprises, which leads to a reduction in the share of innovative products both in the structure of production and in exports; low level of state support for innovation and demand for high-tech products; lack of stimulating technology transfer mechanisms. Using the example of the report of the State Enterprise «Ukrainian Institute of Intellectual Property» for 2021, attention is drawn to the decline in innovative activity of domestic enterprises. It is emphasized that in the conditions of a full-scale war between Russia and Ukraine, state support for innovations, inventors, and other authors of intellectual property rights is a guarantee of increasing the economic potential and military-industrial complex of the state. Addresses existing problematic issues of state security regarding the transfer of technology, protection of secret inventions, commercial secrets, other objects of intellectual property law, and suggests ways of solving problematic issues in the field of technology transfer in Ukraine.

Methods of Financing Innovative Activities of Enterprises of the Russian Federation

This article provides the analysis of the current state of innovative activity of enterprises in the territory of the Russian Federation by studying the dynamics and structure of the volume of innovative goods, works and services, as well as the analysis of costs by sources of financing. The reasons hindering the development of innovative activity are identified, in accordance with which the main directions for their solution are found. The object of the research in the article is the innovative products of Russian enterprises, which can be used to track the overall financial condition of enterprises in the field of innovation and investment. The problem that the authors of this article are trying to solve is the lack of own funds from enterprises for the implementation of innovative activities. The article considers ways of financing innovative activities, in particular, at industrial production enterprises. This study showed that leasing is the most common financing tool for industrial enterprises. However, this source has many shortcomings that impede the development of leasing in the Russian Federation at full capacity, as a way to finance innovation.

Financial Condition of Small Enterprises in Ukraine: Problems, Tendencies, Prospects

The purpose of the article is to generalize the essential content of the concept of "financial condition ofenterprise" in terms of its constituent components; analyze the main indicators of the financial condition of small enterprises of Ukraine, determine the major tendencies during 2017–2020; substantiate the importance of analyzing their financial condition; draw attention to the relevant problems of small business in modern conditions. The article analyzes the current financial condition of small enterprises of Ukraine for the period 2017–2020. Analyzing, systematizing and summarizing the scientific works of scholars, the approaches to defining the concept of "financial condition" of the enterprise were considered. As a result of the research, the financial condition of small enterprises of Ukraine was analyzed and assessed; the main problems of their activity are highlighted. It is substantiated that the validity of managerial decisions directly depends on the objectivity and timeliness of information about the financial condition of the enterprise. The effective operation of enterprises requires constant control over the receipt and use of financial resources, strict adherence to the disciplineof financial settlements, formation of the optimal ratio between own and borrowed funds, ensuring financial sustainability and solvency.A thorough and timely carried out analysis of the financial condition of the enterprise allowsto see the objective state of its activities, identify problematic aspects, respond to challenges in a timely manner, anticipate and minimize business risks and make the right managerial decisions.

ПОДАТКОВІ РИЗИКИ ЯК ЕЛЕМЕНТ ПОДАТКОВОЇ ПОЛІТИКИ ПІДПРИЄМСТВ

Business entities, even at the stage of formulating a business plan, perform an approximate analysis of costs and revenues, as well as examine ways to reduce tax liabilities in order to obtain greater profits. There is always a risk at all stages of activity of business entities, regardless of the sphere of their functioning. The difference may lie only in its degree in this case. Risk is generated by objective existing uncertainty, conflict, lack of information at the time of evaluation, management decision-making, ambiguity of forecasts, changes in the environment and in the system itself, evolution and transformation processes, lack of time for scientific substantiation of economic and financial values and support for appropriate decision-making. The enterprise, working in the dynamic external environment, faces a large number of economic, financial, tax and other types of risks, generating threats to its stable functioning and development. The optimization of its tax security is one of the main directions of increasing the level of economic security of the enterprise. It consists in identifying and analyzing all possible tax risks and reducing the negative impact on economic activity. The latter necessitates the formation and implementation of a balanced tax policy of the enterprise, which plays one of the key positions in the management system. So that changes in external factors would not significantly affect the economic activities of the enterprise. Appearance of modern methods of tax risks reduction is connected with changes in trends in taxation, taxpayers' behavior, increase of tax culture etc. The article outlines the directions of tax risks minimization as an element of tax policy of business entities. In our opinion, it is advisable: to calculate the tax burden on the financial condition of enterprises; to identify and assess tax risks using the map, matrix and table ranking of tax risks; to analyze carefully the contracts and make the source documents, which has a direct impact on the tax consequences.

МОДЕЛЮВАННЯ ВПЛИВУ ЧИННИКІВ ЕКОНОМІЧНОГО СЕРЕДОВИЩА НА РИНКОВУ ВАРТІСТЬ КОРПОРАЦІЙ: ПРИКЛАД УКРАЇНИ

Анотація. Капіталізація є важливим показником інвестиційної привабливості, прибутковості та стабільності підприємств у корпоративному секторі. У цьому контексті аналіз факторів, що впливають на ринкову капіталізацію підприємств, є важливим для управління корпоративними фінансами. Метою статті є визначення найважливіших факторів мікро- та макроекономічного середовища, що впливають на капіталізацію українських підприємств, на прикладі енергетичних підприємств шляхом кореляційно-регресійного аналізу і запропонувати шляхи вдосконалення корпоративного управління та алгоритмів прийняття врахування економічних факторів у стратегії зростання ринкової капіталізації. Розкрито взаємозв’язок між макроекономічними показниками розвитку України, фінансовим станом підприємств та їхньою ринковою капіталізацією на основі факторного та кореляційного аналізу. Побудовано математичну модель, яка показує вплив основних макроекономічних факторів і фінансового стану суб’єктів господарювання (підприємств енергетичного сектору України) на рівень їхньої ринкової капіталізації (п’ять прихованих факторів визначають рівень капіталізації підприємств на 93,8%). Запропоновано алгоритм визначення і врахування впливу економічного середовища на ринкову капіталізацію підприємств, що може поліпшити якість управління компаніями корпоративного сектору в контексті збільшення їхньої ринкової капіталізації. Розроблено пропозиції щодо необхідності розвитку системи коропративного управління в корпоративному секторі як запоруки зростання ринкової капіталізації. Зокрема, запропоновано функціональну модель коропративного управління. Використання моделі дозволить забезпечити формування ефективної стабільної та гнучкої організаційної структури управління, регулювати взаємодію між органами управління та акціонерами, дозволить сформувати належну корпоративну культуру та імідж компанії, а також забезпечить належний рівень фінансування підприємства, реалізацію ефективної дивідендної політики, якісне управління власністю та цінними паперами компанії, її фінансовими результатами, інвестиціями та ризиками. Ключові слова: капіталізація, корпоративне управління, ринкова вартість, математична модель, економічне середовище. Формул: 6; рис.: 4; табл.: 5; бібл.: 26.

ANALYSIS OF MANAGEMENT OF PRODUCTION POTENTIAL OF MACHINE-BUILDING ENTERPRISES OF KHARKIV REGION

The purpose of the article is to study the management of production potential of machine-building enterprises in the Kharkiv region, 9 enterprises were analyzed and their production indicators were studied. The effectiveness of the production potential is characterized by production, technological, financial and innovative components. It should be noted that since the production potential is a component of the economic potential of the enterprise, the structure presented in Fig. 1 is quite conditional. If we consider the production potential from this point of view, then, for example, its innovative component is inextricably linked with the innovative potential, and the financial component – with the financial potential. Sustainable development and competitiveness of an industrial enterprise depends on the level of production potential, which is the foundation of production activity. The production potential of an industrial enterprise is a complex, dynamic and stochastic system consisting of a number of interconnected components. At the legislative level, an attempt has been made to build a single model of an integrated indicator of the financial condition of large, medium and small enterprises. According to the approved IFI Procedure for assessing the financial condition of a potential beneficiary of an investment project, the level of financial condition of the enterprise is determined depending on the value of the integrated indicator, which allows the classification of enterprises in the industry or region. At the same time, questions about the structure of innovation potential remain controversial in the scientific literature. The development of an integrated module for the assessment of production potential is the first stage of the presented methodological approach. The next step is to improve the information subsystem of monitoring the financial and economic activity of industrial enterprises, which in turn is an integral part of the IT system of enterprise management. At this stage, it is necessary to develop software that provides analysis and comprehensive assessment of production capacity. After integrating the software module with IS monitoring, we have to test the software using the collected database on the financial and economic activity of the enterprise. Comparing the results of the assessment with the assessment from the analytical reports of independent experts will allow to determine the level of adequacy of the presented model and software. Methodology. The analysis was conducted on the basis of financial statements of enterprises of the machine-building industry of Kharkiv region for the period 2018, 2019, 2020. Results of the study show that the enterprises of the machine-building industry have low indicators of production potential, so enterprises need to change the strategy in the market to improve production capacity to increase competitiveness and improve. Practical implications. Given that companies have lost traditional markets in recent years and products are not in high demand in European markets, it is necessary to develop ways to improve the management of the potential of machine-building enterprises, seek new markets and strengthen cooperation with international companies. Value/originality. The study will help the management of enterprises to more effectively manage the enterprise and improve their production capacity.

Analysis of aircraft enterprise activity in the context of economic development of Ukraine

The priority direction of the economy of Ukraine is the development of the aircraft industry. Analysis of the activities of aircraft manufacturing enterprises will improve the efficiency of their management, which will contribute to the modernization of the Ukrainian economy in general. The purpose of the study was to analyse the financial condition of aircraft manufacturing enterprises and determine the prospects for expanding their export activities. The research uses the methods of system analysis, induction and deduction, analysis and synthesis, index method. An analysis of the capital of main aircraft-building enterprises of Ukraine was carried out, and distinctive characteristics of the structure, movement and efficiency of its use were established. An analysis of solvency and financial stability was performed. It was established that the financial condition of enterprises is unsatisfactory, which leads to deterioration of the efficiency of the industry as a whole. Studying the activities of enterprises in modern conditions led to the need to conduct a study of the influence of structural factors on the volume of product exports. The presence of dynamic fluctuations in demand requires companies to have the knowledge and skills to use scientific methods of seasonality analysis. The need to use the index method, in particular seasonal indices, to measure the impact of seasonal fluctuations on the volume of product exports has been proved. The amount of aircraft exports during 2018-2020 and the seasonality index are presented graphically. Seasonal fluctuations in the export of aircraft according to monthly data of 2018-2020 by aircraft manufacturing enterprises are estimated. Effective methods of improving the analysis of enterprise activity are proposed. It was estimated that the established trends should be taken into account when forecasting the production indicators of the enterprise. The results of the study can be useful for specialists whose activities are related to ensuring the financial stability and development of the aircraft construction complex of Ukraine

BALANCE SHEET BUDGETTING AT AGRICULTURAL ENTERPRISES

Abstract. The aim of the article is to study the importance of balance budgeting for agribusiness enterprises and to develop a sample balance budget that meets the needs and characteristics of their activities, reflects the key indicators of financial condition to achieve the target level of economic development. Approaches to determining the essence of the budget and budgeting are generalized, the main features of budget classification are systematized and the place and importance of the balance budget are characterized. The peculiarities of drawing up balance budgets for agribusiness enterprises, which consist in the method of initial recognition of agricultural products, assessment of current and long-term biological assets, reflection in the accounting of land plots, biological transformations, are analyzed. The method of determining budget indicators, the procedure for their coordination and relationship with other types of budgets are described. The proposed balance budget is substantiated, which is supplemented by analytical parameters to assess the financial condition of the enterprise and support effective decision-making. The balance sheet usually contains standard items of financial statements by month for the year, so an important addition is the presentation of deviations for all indicators for the year and average annual values, which will provide more smooth estimates. The scientific novelty of the study is to formalize the process of balance budgeting and balance sheet development for agribusiness enterprises, which takes into account the peculiarities of their activities and contains analytical indicators that help model liquidity, solvency and financial stability and achieve them in the long run. The results of the study allow to organize budgeting more effectively, facilitate the process of developing balance budgets and present them in a supplemented form to manage the financial condition of agribusiness enterprises, increase their book value and economic development. Keywords: budget, balance budgeting, agribusiness enterprise. JEL Classification М49, М21, Q19 Formulas: 0; fig.: 0; tabl.: 1; bibl.: 22.

ФІНАНСОВІ АСПЕКТИ ВРАХУВАННЯ НОВИХ ЕКОНОМІЧНИХ РИЗИКІВ У ДІЯЛЬНОСТІ ПІДПРИЄМСТВ

Анотація. Економічний розвиток підприємств у світі та в Україні 2020 року та на майбутнє дедалі більше залежатиме від урахування нових економічних ризиків, серед яких уже сьогодні доцільно виділити такі: кліматичні, епідеміологічні (передусім — коронавірусні), деглобалізаційні, протекціоністські, популістські, нерівність у доходах. На тлі коронавирусної пандемії і породженої нею економічної кризи найбільше постраждав сектор вітчизняного малого та середнього бізнесу, орієнтований на надання офлайн-послуг. Фактично попит на послуги індустрій громадського харчування, розваг, туризму, гостинності, а також beauty-індустрії і непродовольчого ритейлу в умовах карантину впав у рази. При цьому необхідність платити заробітну плату, податки, соціальні внески, орендні платежі, кредити банкам і контрагентам за постачання та інші послуги зберіглася. Водночас усі види бізнесів, які не встигли перейти на надання товарів і послуг в онлайн-форматі або дотримуються бізнес-моделей, пов’язаних виключно з наданням персональних офлайн-послуг, схильні до ризику банкрутства в майбутньому. Наслідком карантину стане економічна криза, а значить і скорочення купівельної спроможності, зміна споживчої поведінки. Загалом, відбулося порушення традиційної сезонності продажів, змінюються тенденції внаслідок падіння доходів споживача. Водночас прискореного розвитку дістають цифрові послуги: електронна комерція, платіжні системи та послуги замовлення і доставки он-лайн. Також серед інших економічних ризиків у діяльності підприємств особливої уваги набуває необхідність визначення та оцінка фінансово-кліматичних ризиків, які виникають унаслідок обмежень, що накладаються міжнародними організаціями та окремими країнами на бізнес. Відповідно, підприємства, які здійснюють кліматично небезпечну діяльність, повинні розраховувати свої фінансові втрати на перспективу, якщо вони будуть продовжувати подібний бізнес. Проблемою є й той факт, що поки фінансово-кліматичні ризики та інші нові економічні ризики достатньо не вивчені та не систематизовані, а також не досліджено їхній вплив на фінансовий стан підприємств як у світі, так і в Україні. Ключові слова: нові економічні ризики, підприємство, деглобалізація, протекціонізм, економічний популізм, економічна нерівність, Україна. Формул: 0; рис.: 2; табл.: 0; бібл. 14.

ШЛЯХИ ОПТИМІЗАЦІЇ ФІНАНСОВОЇ СТІЙКОСТІ ПІДПРИЄМСТВА В ПЕРІОД КРИЗИ

The article considers different approaches to the definition of "financial stability". The financial stability of the enterprise characterizes and reflects the result of current investment and financial development, contains the necessary information for investors and reflects the ability to be responsible for its debts and liabilities. The main task of the analysis of financial stability of the enterprise as well as the stock of financial stability and its limits is defined. It also defines stages of sequences of the analysis of enterprise. The modern working conditions of small and medium business along with the problems enterprise faces are analyzed. At the present stage, it is extremely important to be clearly oriented in a complex system of market relations, the correct assessment of production and economic potential, the strategy of future development, the financial condition of enterprise and partner companies. This makes it necessary and important to systematically assess the financial stability of enterprise. With the help of assess the correct strategy and tactics of enterprise development are developed, plans and management decisions are substantiated, the implementation is controlled, solvency and liquidity are assessed and financial stability is strengthened. The activity of the enterprise is negatively affected not only by environmental factors, but also by lack of proper management of financial stability of the enterprise. Currently, the main task of any enterprise is to ensure the optimal level of financial stability of the enterprise. The financial strength is always calculated during the analysis of financial stability of the enterprise, as it shows what allowable percentage the revenue can be reduced for the company to be unprofitable. The actual problem during the current economic crisis remains increasing the optimization of financial sustainability of the enterprise. Various factors influencing the financial stability of the enterprise are investigated, minimization and neutralization methods of these factors are offered. Ways to optimize the financial stability of the enterprise in a period of difficult financial and economic situation in the country are formed. The globalization of the economy has led to a close interdependence of external and internal factors influencing the enterprise. Given that external factors are uncontrollable and unpredictable, it is possible to achieve the required level of financial stability for the company by identifying the most important internal factors and minimizing or neutralizing them. It is necessary to manage financial stability taking into account the risks caused by scientific progress, the instability of the political situation, the growth of competition in commodity and financial markets. Now, companies must be flexible and ready to adapt to new working conditions that dictate the realities of today.

Approaches to Forming the Rating of Automotive Industry Enterprises Based on Financial Statements

The article presents the results of developing a methodology for rating the enterprises of the automotive industry. The tasks formulated in the Consolidated Strategy for the Development of the Manufacturing Industry require an increase in innovation activity and the development of the export potential of enterprises in the automotive industry. The formation of a monitoring system for this sector of the economy will contribute to the achievement of the planned indicators. A review of the rating methods used in practice has shown that most of them are based on the assessment of traditional areas, including the level of business activity, profitability, and financial condition of enterprises. With regard to high-tech enterprises the ratings cover a limited number of organizations, due to the specifics of the information used and the declarative nature of participation.The methodology developed by the authors for rating enterprises in the automotive industry is based primarily on taking into account the innovative component of organizations’ activities. For these purposes, a system of indicators based on information reflected in the financial statements of enterprises has been proposed, which increases the objectivity of the results of comparative analysis and allows it to be used for mass valuation of enterprises.

ANALYSIS AND EVALUATION OF RECEIVABLES PJSC "COMPLEX BEZLYUDOVSKY MEAT-PACKING PLANT"

The definition of receivables and its importance in the effective functioning of the enterprise is given. Taking into account the main stages of conductinga comprehensive analysis of receivables, developed an organizational and economic model of receivables analysis for the company, which defines thecomposition and structure of receivables, analysis of deviations and trends in changes in receivables for the period. It is stated that when makingmanagement decisions on the management of receivables should take into account all the factors and reasons that affect its occurrence. An assessmentof the size, structure and dynamics of receivables on the example of the financial statements of the food industry were performed. To determine theability to settle with creditors at the expense of receivables, the ratio of its ratio to accounts payable is calculated. The importance of constant controland monitoring of funds in settlements with debtors was determined, as well as the impact of receivables on the financial condition of enterprises -liquidity, solvency, financial stability, competitiveness and more. Different opinions of specialists on receivables management models to increase theefficiency of the business entity are considered. It is proposed to improve the turnover of working capital, prevent losses from overdue and badreceivables, as well as to cover losses from their late return, improve the management of receivables in enterprises through the use of collection:providing discounts for quick payment for products; factoring - sale of receivables; penalties for late payments. The necessary rules for achieving theoptimal amount of receivables are indicated.

Analysis of the existing methods for assessing the financial state of the enterprise as a tool to ensure its economic security

In modern unstable conditions of economic development, special attention is paid to the financial condition of enterprises, since it reflects all aspects of the financial and production activities of an enterprise, determines its potential in the business world, competitiveness, stability in the market and determines potential positions in the market. Analysis of the financial condition of an enterprise in the presence of internal and external threats will allow assessing the current and prospective financial position of an economic entity, assessing the potential pace of development, identifying possible sources of assets formation, and predicting the financial position of an enterprise in the market. The scientific article summarizes modern methods of analysis and assessment of the financial condition of an enterprise, studies the systems for determining the financial condition as a tool for ensuring economic security. and also presents their features and content. Based on a comparison of the most common methods for assessing the financial condition of an enterprise, the following conclusion can be drawn: at present, when analyzing the financial condition of enterprises, the problem of choosing a methodology that meets the requirements of an enterprise to enhance the analysis of one or another block of economic and financial indicators is highlighted. That is, the given interconnections of the analyzed phenomena that characterize financial and economic activities can be very diverse and complex. Therefore, it is advisable to conduct analytics using not all the diversity, but only those factors and indicators on which the results of the financial and economic activities of the enterprise directly depend. All methods of assessing the financial condition of enterprises can be applied at enterprises in order to ensure economic security. Enterprises in an environment of uncertainty continuously need timely, objective and complete information about their financial condition to ensure constant and stable protection against real and potential threats and hazards. Moreover, owners and investors need such information. However, it is always necessary to remember and realize that the conditions of a market economy dictate their own rules, the promotion and development of enterprises takes place in a tough competitive environment, therefore, information should be submitted in a timely manner in order to make appropriate management decisions.

Modern problems of the oil industry development and their impact on the financial stability of oil production enterprises

The oil industry is one of the main key points in the economies of Russia and Iraq, therefore, the state, social and economic life of the country depends on its productivity, functioning, and stability. The oil industry has several tasks: improving energy efficiency, modernizing equipment, and innovative developments. The oil industry has experienced ups and downs over the years, but the 2020 crisis hit the industry harder than in all years. The long-term decline in oil demand paints highly unfavorable prospects for the future. The Covid 19 crisis was the worst in the history of the oil industry. As companies and entire industries recoil from its effects, oil prices continue to fall. The pandemic has reduced the demand for oil to such an extent that the industry is unable to adapt to such a sharp decline. And the buildup of oil reserves further lowers fuel prices. This article is devoted to the reflection of the algorithm and the substantiation of the practical application of the developed automated model of analysis and forecasting of the financial condition of an enterprise using regression analysis in assessing the financial indicators of an oil production enterprise. In the course of the research, the methods of logical, statistical analysis were used. The developed prototype of an automated model for complex analysis and forecasting of the financial condition of oil production enterprises is a good basis for creating a full-fledged commercial system for the oil production business. It is concluded that the new automated model of analysis and forecasting provides an opportunity to analyze the financial condition of an oil production enterprise, including the identification of its financial difficulties and the study of financial attractiveness, as well as to predict the financial condition of an oil production enterprise within almost any time interval, determining ways to overcome its financial difficulties and increasing financial attractiveness.

Discriminatory models as a tool for bankruptcy risk assessment industrial capital groups – the chemical sector

The article presents research on the use of discriminatory models in the assessment of the risk of bankruptcy of industrial capital groups operating in the Polish chemical sector. The research work was focused on examining the efficiency and effectiveness of the use of analytical models in forecasting bankruptcies of multi-entity organizations by tally and comparing the results calculated for the capital group and the parent company. The analysis uses models for assessing and forecasting the economic and financial condition of enterprises by Polish scientists, which are dedicated to domestic companies operating in the Polish economic realities. Research works on their development were carried out in the main research and development centers of universities.

ИССЛЕДОВАНИЕ ВЗАИМОСВЯЗИ КАЧЕСТВА КОРПОРАТИВНОГО УПРАВЛЕНИЯ И ФИНАНСОВОГО СОСТОЯНИЯ КОРПОРАЦИЙ

The purpose of the study is to empirically test the relationship between the quality of corporate governance of Russian corporations and their financial position. PJSC ANK Bashneft (a subsidiary of PJSC NK Rosneft), PJSC MTS and PJSC Transneft are taken as the research objects. Calculation of the multiple regression model and multiple correlation, obtained on the basis of regression equation, makes it possible to prove the existence of an inverse relationship between the quality of corporate governance and the financial condition of enterprises. This nature of dependence is explained by the manifestation of the conflict of agency relations and the asymmetry of information. With a low level of corporate governance, managers mislead existing and potential investors. They distort financial statements and inflate the level of the company's financial position.

НАЛОГ НА ПРИБЫЛЬ ОРГАНИЗАЦИЙ: АНАЛИЗ ПОСТУПЛЕНИЙ В ФЕДЕРАЛЬНЫЙ БЮДЖЕТ РФ

Corporate income tax is one of the main budget-forming taxes of the tax system of the Russian Federation. The increased attention of researchers to the problems of profit taxation is explained by the fact that this tax forms a significant part of the country's budget revenues. Corporate income tax has a direct impact on the financial condition of enterprises, since the amount of deductions for it is one of the largest. This ex-plains the special interest in this tax on the part of taxpayers. All of the above predetermined the relevance of the topic of the scientific article.