Results Of Financial Activity Research Articles

ИСПОЛЬЗОВАНИЕ ПОПРОЦЕССНОГО БЮДЖЕТИРОВАНИЯ В ЦЕЛЯХ КОНТРОЛЯ ЗАТРАТ И ПОВЫШЕНИЯ ЭФФЕКТИВНОСТИ БИЗНЕС-ПРОЦЕССОВ КОМПАНИИ

The article discusses the issues of organizing sound budget planning of company expenses. Particular attention is paid to the problem of forming budgets for indirect costs. As a tool for determining their value, the ABB method (Activity based budgeting) is proposed, based on a functional cost analysis of costs and an assessment of the planned amount of resource consumption, depending on the level of each type of activity necessary to implement the production program and achieve a given level of income. Recommendations are given for the implementation of process-based budgeting techniques. The advantages of using the ABB method for the purposes of effective control of resources and financial results of activities are highlighted.

Formation of an effective model of personnel management of a trading enterprise under martial law

The article examines the theoretical and methodological foundations of the formation of personnel management models of trade enterprises, it is found that the main components of HR models include the purpose of the company's activity, planning and management systems, economic and financial results of activities and their effectiveness, organizational and production structures, personnel management system, criteria for evaluating performance indicators and the relationship with the company's external environment. An analysis of personnel management problems of a trade enterprise was carried out. It was determined that among the peculiarities of work in trade activities, the influence of various social-psychological and safety factors on the work behavior and efficiency of personnel, including the challenges of martial law, occupies a significant place. A Swot-analysis of the factors affecting the effects of stressful situations on the performance of trade employees, which affect not only their work behavior and attitude to work, but also the company's activities, was carried out. Recommendations are provided for building a personnel management model taking into account the specifics of the trade enterprise. The modern model of personnel management in trade business should take into account the motivational capabilities of the enterprise. Weaknesses can be identified and actions can be suggested to improve the company's HR processes in martial law using the SWOT analysis method. The application of innovative personnel management technologies in a trade enterprise, including methods and tools of motivational management, time management, stress management, and modern reward systems becomes a key factor in ensuring the competitiveness of a trade enterprise under martial law. The results of the implementation of an effective complex model of personnel management of a trading company provide not only an increase in labor productivity, but also an incentive for continuous professional growth, development of stress resistance, preservation and development of the personnel potential of a trading enterprise in crisis conditions.

RESEARCH INTERNAL ENVIRONMENTAL OF THE FACTORY OF THE HEAT POWER INDUSTRY

To ensure economic independence, factories are forced to constantly monitor and increase the economic efficiency of their activities. Despite the control and support of the state, the efficiency activities of the factories heat industry, first of all, depends on the efficiency of the management of the internal environment of the factories’ itself.
 Research internal environmental it is possible to carry out at the expense of the analysis of results of financial activity of the factory. Indicators of financial activity have low values. The factory is completely dependent on external funds, which does not allow increasing its own profits and other financial indicators. For in-depth research internal environmental of the factory it is necessary to identify internal factors and research their impact on profitability activity of the factory.

Development of measures to manage the liquidity and solvency of the enterprise

The article considers the possibility of making managerial decisions to achieve targets based on the analysis of the financial condition. The author, based on the analysis of the financial condition of the organization, assessing the importance of the liquidity and solvency of the enterprise and its positive impact on the achievement of production plans, determines the directions of a qualitative assessment of the current situation, the possibility of timely identification of resource management problems, including the effectiveness of their use and placement. The stability of the financial condition and its stability depend on the results of financial activity. As a result of the use of forecasting methods, a forecast of the values of liquidity coefficients is presented on the example of LLC «Techprogress».

Methodology of Financial Research by Stages of Innovation Process

The article deals with issues related to the peculiarities of the methodology of conducting financial research at the stages of innovation process. Important in the author's approach is the formulation of the problem of forming a certain set of research methods for the stages of innovation process from the standpoint of financial results. The following methods were used in the research: dialectical method and methods of analysis and synthesis, methods of comparison and generalisations, structural and logical analysis. To achieve the set goal, namely, to determine the composition of research methods of innovation process by stages, each of which has its own specificity and may require a unique set of methods, a comparative analysis of interrelated research objects, which are the innovation process, the life cycle of the product (products, services, objects) and scientific and technical preparation of production. For the studied object – the innovation process – an analysis was made and two main research subjects, certain stages of the innovation process, were distinguished: fundamental and applied research. Complexes of research methods were formed for each of them for the first time in order to determine financial goals and objectives. It is proposed to consider the determination of the maximum amount of budget expenditures for the implementation of innovative processes as a financial goal of the research of objects of fundamental and applied research. A matrix of complexes of research methods for the stages of the innovation process with expected tasks and results of financial activity was formed. The conclusions obtained as a result of the research can be useful in practices of employees of research institutions and organisations, graduate students and students of higher educational institutions researching the problems of innovative development and implementing the stages of the innovation process

ОЦІНЮВАННЯ ДИНАМІКИ ПОКАЗНИКІВ ФІНАНСОВОЇ СТІЙКОСТІ ПІДПРИЄМСТВ ВАНТАЖНОГО АВТОМОБІЛЬНОГО ТРАНСПОРТУ В УКРАЇНІ

The article is devoted to the analysis and assessment of the dynamics of indicators of the financial stability of road transport enterprises in Ukraine for the period 2013-2020. The research analyzed the market of freight transport in Ukraine and identified the main problems of the operation of road transport enterprises. The trends of changes in financial results of activity, the level of profitability and unprofitability were evaluated, the dynamics of capital investments of freight road transport enterprises were studied. Changes in non- current and current assets, equity and loan capital, amounts of receivables and payables were analyzed. The dynamics of individual sustainability indicators of enterprises were studied, the ratio of capital investments and depreciation deductions, current and long-term liabilities, the level of financial autonomy and general solvency was determined. According to the results of the study, it was established that depreciation deductions remain a limited resource for truck transport enterprises, and the share of capital investments is rather insignificant. The transport industry does not attract sufficient foreign direct investment to stimulate development and increase competitiveness in the market. The researched sector is quite closed to foreign capital and owners, and is developing mainly at the expense of domestic resources. As a result of the study, it was established that the activity of motor vehicle enterprises engaged in freight transportation is characterized by the dominance of the material intensity of the cost price, insufficient working capital, large amounts of receivables, a significant share of material costs in the structure of operating rooms, which forms a dependence on working capital and the settlement system at enterprises.

Інформаційна технологія прогнозування фінансових результатів страхових компаній

The purpose of time series modelling is to predict future indicators based on the study and analysis of past and present data. Various time series methods are used for forecasting. The article uses econometric extrapolation research methods. Analyzed scientific works are related to extrapolation methods for forecasting time series. The dynamics of the financial formation related to results of Ukrainian insurance companies by the types of their activities have been analyzed. The main factors that determine the effectiveness are determined. It was found that the most rational approach to short-term forecasting of the financial results of insurers is the use of exponential smoothing. The optimal parameters are selected for the model of exponential smoothing of the first and second order by the method on the grid. The following indicators of the quality of the model were used: the mean value of the standard deviation of the model error to the actual data, Theils coefficient of discrepancy, mean absolute percentage error MARE. The net financial result of the activities of Ukrainian insurers was predicted, the lower and upper bounds of the forecast for 2021 for a reliability level of 0.95. To predict the net financial result of the activities of Ukrainian insurers, statistical data for 10 years from 2011 to 2020 were used, the financial results of the main (insurance and other operating) activities before tax, the results of financial activities before tax, the financial results of other ordinary activities (extraordinary events) before tax, income tax. The prototype of the software module for predicting the financial performance of insurance companies was developed in Statistica and Excel. Forecasting results based on the use of econometric modelling make it possible to identify permanent positive shifts in the domestic insurance market and the activities of insurers on it; to confirm the effectiveness of the adopted strategic and tactical financial decisions of insurance companies; to increase the efficiency of insurers management based on the results of quantitative determination the degree of influence of each factor on the formation of the financial results related to their activities; to identify trends in the development of the situation in the future, to more accurately form a set of measures to maximize profits and minimize costs of insurance companies to ensure guarantees of reliable insurance protection and satisfy the interests of their owners. Keywords: financial results; insurance companies; net financial result; exponential smoothing; time series; econometric forecasting methods.

Condition and problems of entrepreneurial subjects lending

Lending is a main instrument of bank institutions’ influence on the development of economy and its subjects. The aim of the paper is to analyze the condition of entrepreneurial subjects lending by the bank system, especially agrarian enterprises, and separation of main restraining factors of its development. During 2017-2020 there is observed an essential reduction of volumes of medium-term and long-term credits, given to entrepreneurial subjects. The use of short-term credits for less than 1 year, the most specific weight (80.5 %) of which is possessed by microentrepreneurial subjects with annual income less than 50 thousand euro, prevails. It has been established, that high cost of credit resources, absence of correspondent guarantee and insufficient competitiveness of most entrepreneurial subjects prevent the development of credit relations for all participants (borrowers, creditors and state).
 Agricultural economy that produces more than 12 % of GDP and provides more than 40 % of Ukrainian currency receipts, demonstrates positive financial results of activity, is really underfinanced at the expanse of bank credits. A share of credits, directed to the agrarian sector during last years, is essentially less than the contribution of the branch in the gross added value formation in the country. A bank credit policy, acceptable for all entrepreneurial subjects and directed on credit cost decrease and long-term lending increase, is necessary. Studies of the influence of arrangements in the AIC by reduction of credit prices on effective indices (pure profit of agrarian enterprises) has testified a close connection (R=0,9803), comparing with other factors, that is why the practice of using the preferential lending mechanism must be continued, but by stable, not continuously changing approaches and by direct state support of just small and medium entrepreneurial subjects, which are most limited in access to credit resources of bank institutions.

Выбор источника финансирования реновации основных средств

Introduction. The condition of fixed assets and their rational management largely determine the competitiveness of an enterprise. Updating the production base is possible both at the expense of their own funds and at the expense of borrowed funds. When choosing sources of financing for renovating fixed assets, it is important to assess the impact of the chosen acquisition method on cash flows and the financial result of an enterprise. The purpose of the article is to assess the impact of the chosen method of financing the acquisition of fixed assets on the company’s financial results and cash flow. Methods. Comparison, induction, analysis, synthesis, direct counting, the author’s methodology for assessing the impact of the source of renovation on the financial result of the enterprise and cash flow. Scientific novelty of the research. The authors propose an additional criterion for assessing the efficiency of managing fixed assets of an enterprise: choosing the most optimal method of acquisition, based on assessing its impact on the financial results of activities, and they also proposed to supplement the options for renovating the main environments using leases, since, depending on the economic situation, this option may have financial advantages over credit, loan and leasing. Results. The authors predict the influence of the method of financing the acquisition of fixed assets (credit, leasing, rent, own funds) on the financial result of an enterprise and cash flows; develop the general approaches to the method of choosing the optimal source of financing for the renovation of fixed assets. Conclusions. The acquisition of ownership of fixed-capital assets is not always advisable. The article shows that not only credit or leasing operations, but also rent are comparable in efficiency. When choosing a source of financing for renovating fixed assets, it is necessary to compare the costs of acquiring property and their distribution by periods, to analyze the impact of the method of acquiring them on the financial result of the enterprise and cash flow.

ОБЛІКОВЕ ЗАБЕЗПЕЧЕННЯ ФОРМУВАННЯ ФІНАНСОВИХ РЕЗУЛЬТАТІВ ПІДПРИЄМСТВА

In modern conditions of development of the enterprises the question of correctness of definition, and accordingly accounting maintenance of financial results of the enterprise is considered as one of key at action of realization of economic activity, activity. And also questions of qualitative formation of the accounting and administrative information on financial results of activity, the analysis of the received data, search of sources of decrease in expenses and increase in the income, the income of the enterprise. The article considers the basic concepts and problems of accounting support of the process of formation of financial results of enterprises in the process of developing a general system of accounting at the enterprise in order to optimize the work of accounting staff, avoid errors in preparing financial statements. It is established that the concept of financial results of the enterprise is not interpreted as a rule as a separate concept, but only in terms of such concepts as “profit” or “loss”. The study identifies approaches to the development of financial results of the enterprise. It is investigated what is the accounting process itself, which precedes the formation of financial reporting indicators at the enterprise in terms of reflecting financial results. It is noted that the reflection in the accounting of information about income, expenses and financial results of the enterprise directly depends on the correctness of their assessment at the stage of recognition in the accounting and reflection in the reporting. It is determined that in order to ensure accounting, the company independently approves the accounting policy as a component of the entire accounting system of the company. Having studied the concept of financial results, classification and varieties, as well as the theoretical foundations of accounting for their formation, it is determined that the profit plays a key role in the activities of any business entity, as it provides the movement of resources and relationships. As a result, it is noted that effective accounting support for the formation of financial in the enterprise is an important component of the accounting system at the enterprise.

ЦИФРОВАЯ ПРОГНОЗНО-АНАЛИТИЧЕСКАЯ МОДЕЛЬ ПРИБЫЛЬНОСТИ БИЗНЕСА СЕЛЬСКОХОЗЯЙСТВЕННЫХ ОРГАНИЗАЦИЙ

In the modern conditions of the spread of the Internet and information and communication technologies, as a result of the impact of the processes of general globalization, the traditional business models of the functioning of commercial organizations are gradually being replaced by new systems operating on the basis of digital platforms. Taking into account the fact that the digitalization of the functioning of domestic producers of agricultural raw materials and food is currently at the initial stage of development, the authors proposed to consider the digital business model of an agricultural organization from the point of view of managing its main constituent elements (business processes), which made it possible to display the main approaches to its formation. The main goal of any commercial organization is to make a profit, therefore, forecasting the main production and financial results of its activities, being an important component of the business planning process, is necessary to improve the efficiency of decisions made by management. Based on this, the authors proposed a predictive and analytical model for studying the key indicators of the functioning of a number of economic entities in the Saratov region, which can be considered as one of the integral elements of digital business modeling of the activities of agricultural organizations in the region. The predictive and analytical component of the digital business model proposed by the authors is aimed at studying the production and financial results of the functioning of agricultural enterprises in the Saratov region in dynamics over a certain period of time. Within the framework of the presented work, the method of graphical data analysis was applied, which made it possible to establish the state of the studied indicators in the near future. Revealing the coefficients of closeness of the relationship between individual elements of the costs of agricultural production and factors affecting profit using the method of correlation-regression analysis of indicators, increased the level of reliability of the developed model. To determine a number of predicted values of production and financial results of activities of economic entities of the region (factors), taking into account the coefficients of their relationship with individual cost elements, a formula has been proposed that allows combining the methods of graphical and correlation-regression analysis of data.

APPLICATION OF THE METHOD OF ARTIFICIAL INSEMINATION OF BREEDING STOCK COWS

The objectives of this study are to analyze the economic efficiency of using the method of artificial insemination of cows with semen divided by sex, ultrasound for diagnosing inseminated breeding stock livestock and diseases of reproductive function using the example of model dairy farms, which makes it possible to determine the development potential of these farms, to conduct an economic assessment of production level. Based on development materials, calculation of the effectiveness of model farms for production of milk and its processing products is presented, the possibilities of using new technologies for the automation of technological processes are shown. In the future, in research work on organization of similar model farms, an emphasis should be placed on the consideration of indicators reflecting the specifics of their functioning, as well as production and financial results of activities based on a systematic integrated approach. Currently, a significant acceleration of genetic progress in selection and breeding work is facilitated by the use of sex-separated or sexed sperm. In trials conducted in the USA on 211 farms, the fertility of Holstein heifers with sex-sperm reached 47%, Jersey - 53%. In the offspring, 89% of heifers were obtained. In Finland, insemination of cows with sexed sperm with 2 million sperm in a dose provided 20% of calving, as a result of which 82% of heifers were born, while during insemination with ordinary cryopreserved sperm (15 million sperm) - 45 and 49%, respectively. The calculation proposed by the authors is based on identifying the percentage of live calves received from the number of cows and heifers of breeding age available on farms at the beginning of the analyzed year.

Intellectual Capital of a Trading Company: Comprehensive Analysis Based on Reporting

The study is devoted to the analysis of the efficiency of use and the effectiveness of disclosing the intellectual capital (IC) of a trading company operating in the market of the Russian Federation. The subject of the research is an assessment of the quality of disclosure of information about the IC company involved in the creation of financial results of activities and the growth of the company’s value. The study examines the assessment of IC and the search for links between the involvement of IC in the formation of the financial result of a trading company and the degree of its reflection in the company’s annual reports. Methods of using intellectual value-added coefficients (VAIC) such as the trademark logo (written as ™), Calculated Intangible Value (CIV) and content analysis of the company’s annual reports are used to assess the IC and its elements. The influence of IC and its components, on the financial results of a trading company are also investigated and calculated using various methods. It is shown that there are no statistically significant relationships between the assessments of IC and its elements obtained using financial ratios, and those obtained using content analysis. This indicates that the opinions and assessments of the heads of a trading company regarding IC are formed regardless of the size of IC involved in the formation of economic results and testifies to the absence of an effective investment management policy in the studied company. Some of the results obtained confirm the trends in IC structures previously observed for companies in other industries. The results also indicate that the existing system for preparing annual reports does not sufficiently consider the size, dynamics and efficiency of using the intangible assets of a trading company. The results of this study are likely to be useful to management and academics.

COMPARATIVE ANALYSIS OF METHODOLOGY ROAD TRANSPORT STATISTICS OF EUROSTAT AND UKRAINE

Methodological approaches to European Union statistical observations of road transport industry are described and comparative analysis of the methodology of statistical observations in Ukraine are performed. The significance of statistical analysis and research of publications on the results of statistical observations for the economy of the country, business environment, scientists and other users is established. The importance database for the National Transport Model is discussed. It is a powerful tool for analyzing, forecasting, feasibility studies of investment projects. The main indicators of statistical reporting for road transport in Ukraine are analyzed. The gaps in the statistical data road transport have been identified. The table provides a clear demonstration of the comparison of Eurostat and Ukraine’s road transport methodology by type of indicators. Differences in methodology with Eurostat in reporting areas were identified: rolling stock; enterprises, economic indicators and employment; road traffic; statistics of passenger road transport; freight road transport; national road freight transport; international road freight transport; cabotage by road. Conclusions and suggestions on converting positions and methodology of national statistics to Eurostat methodology have been provided. It is proposed to create a single electronic platform, accumulating all the various statistics on: carriers, routes, volumes and destinations of transportation, transport work, rolling stock, runs, fuel costs, financial results of activity, investment activity, cross-border traffic, export-import, road accidents, etc. that will be accessible to all potential users of statistics. Keywords: statistics, data base, methodology, reporting forms, sample surveys, road transport.

Improvement of the accounting policy of the small business enterprises in its transition to IFRS: investment and innovation aspects

The object of research is the process of forming an effective accounting policy for small businesses in Ukraine in the context of the transition to the International Financial Reporting Standard (IFRS) to stimulate the development of the small business sector on investment and innovation principles. One of the biggest problems of reforming in Ukraine is the predominance of the fiscal orientation in regulating the activities of small businesses over the incentive function. The accounting policy of a small business entity should be formed in such a way as to create conditions for increasing its competitiveness on investment and innovation principles. A comparison of general regulatory standards is made to determine the elements of the accounting policies of small businesses enterprises (SBE) under the IFRS and in the Ukrainian legislation. The experience of economically developed countries in regulating the principles, procedures and methods of accounting in the formation of the accounting policies of small and medium-sized business entities (SMEs), which ensure the development of the small business sector on investment and innovation principles, has been determined. The directions of improvement of the Ukrainian model of formation of accounting policies for the SBE, taking into account investment and innovation aspects, are proposed. In the course of the study, general scientific and specialized research methods were used. As well as approaches to modeling the process of forming the accounting policy of a small business entity in the transition with international financial reporting standards. The aspects that may affect the financial results of the activity of a small business entity for ensuring development on investment and innovation principles are identified. To do this, it is necessary to take into account procedural, organizational and technical, tax, analytical, managerial and international aspects. This ensures conditions for the formation of effective accounting policies. The accounting policy, taking into account the above aspects, will help optimize the financial results of the economic activities of the small business entity and will increase the effectiveness of management decisions. And also will ensure the achievement of the best options for the functioning of financial and management accounting.

Economic justification of costs at inspection of industrial safety of high-rise marine structures

The task of technical and economic regulation within mutual international recognition of testing laboratories are considered. Codes and procedures within requirements of international ISO/IEC standards of a series 17000 for elimination of non-tariff barriers and interlaboratory exchange of experts in the field of high-rise marine construction are considered. In paper, the methods of assessment of formation of economically justified cost of works at inspection and monitoring of technical condition of high-rise marine wharf engineering port structure based on settlement and actual labor input were applied. For the countries of EU, data on the average cost of works of testing laboratory within a week have been taken as a basis. Such approach will be objective as considers only expenses on obligatory actions in the course of inspection of technical condition of port engineering constructions. The analysis of public results of financial activities of the accredited organizations allowed to calculate the main indicators of the size of necessary profit and overheads at observance of all requirements imposed to test laboratories including taking into account their future technical development. The offered practice corresponds to the general direction by mutual international recognition of independent testing laboratories and can be use in the future.

CORPORATE STYLE WITH MEDIA DESIGN TOOLS

In the conditions of high competition of application of innovative approaches and marketing instruments of mediadesign it is laid in philosophy of market behavior as system of practical events that provide basic directions of positioning of company at the market, assist the increase of financial results of activity and selection of potential of competitiveness on the whole. Forming of corporate style in a mediasphere occupies a leading role at present, comes forward as a major intangible asset of enterprise, provides the favourable terms of development at the modern market, is the instrument of expansion of partner mutual relations and connections. The relevance of the chosen topic is that within a single concept and overall plan to influence the minds of consumers, create a positive style of the product or service, the basis for the formation of the company's corporate style are advertising technologies. The article analyzes the main aspects of corporate style formation by advertising and justification of its need to form media design tools, highlights the main directions of development and use of innovative tools to adapt to the modern market. The main aspects of formation of corporate style by advertising means and substantiation of its necessity of formation by tools of media design are analyzed, the basic directions of development and use of innovative tools on adaptation to the modern market are allocated.

"Results of financial activity are... very unsatisfactory": A memorandum about financial status of Leningrad region collective farms in 1949

"Results of financial activity are... very unsatisfactory": A memorandum about financial status of Leningrad region collective farms in 1949

Analysis of the level and dynamics of financial results of MIC enterprises according to financial statements

In article the indicators influencing sustainable development of the defensive entities on the basis of the analysis of financial results of their activities for data of annual accounting records with use of a method of the horizontal and vertical analysis are considered. The most important indicators of financial results of activities of JSC “Ryazan Radio Plant” and JSC “Tambov Plant Oktyabr” based on data of annual accounting records for 2015 were considered. Positive changes of the accounting period of JSC “Ryazan Radio Plant” are growth of revenue from sales for 28.11% and growth of a gross profit by 4.32% of rather similar indicators of previous year. Growth of a cost of sales and business expenses, negative balance of other incomes and expenses affected an indicator of a net profit which in comparison with indicators of previous year decreased as in absolute, and in percentage terms. By consideration of indicators of the second entity of JSC “Tambov Plant Oktyabr” positive and negative changes were noted. The entity had an increase in revenue by 16.64%, a gross profit for 14.39%, a sales profit for 11.92%, profit to the taxation for 41.17% and a net profit for 44.36% that demonstrates effective work of the entity on providing a strong growth of an equity. Indicators of the second analyzed entity are represented more preferable, than the first, but nevertheless both entities need to analyze independently expenses and the income from regular, investing and financial activities for further successful development.

NON-FINANCIAL INDICATORS FOR EVALUATION OF BUSINESS ACTIVITY

It is well-known that financial reports are the main source of information about company performance, and basing on them the business activities and financial position of a company are evaluated. However, under conditions of contemporary economic development company management cannot rely only on the evaluation system of financial indicators in order to manage the company successfully. The main indicators of business activity are not found only in financial data. Such indicators as quality, clients’ satisfaction, innovations, market share quite often reveal the economic position of a company and opportunities for growth better than the financial indicators of company performance reflected in reports. The balanced scorecard indicators, which include the financial perspective, clients’ perspective, internal processes perspective and innovations and learning perspective, can be considered as the origin of non-financial indicators. The balanced scorecard indicators developed strategy maps were designed to trace and develop cause-effect links between long-term aims and implemented short-term activities. Initially the growth and learning perspective of the balanced scorecard indicators included employees’ skills, opportunities of the information system, and such behavioral factors as motivation and powers; however, some changes were introduced into the balanced scorecard indicators and the growth and learning perspective is characterized now as intangible assets which are divided into three groups: human capital, information capital and organizational capital. Researches prove that the results of non-financial activity positively influence the results of financial activity and an increasing number of company managers transform the evaluation system of their company performance to trace non-financial evaluation indicators and thus use their new strategies in competition. Despite the fact that in scientific literature the number of publication on this topic increases, researchers have not come to agreement about the content and structure of non-financial indicators as well as about the methods for their measurement and evaluation. The article reveals various theoretical approaches to understanding the nature, classification and measurement on non-financial indicators, which are in scientific literature, are considered as the indicators for measurement and evaluation of intellectual capital. The aim of the paper is to provide recommendations on the development of non-financial indicators system and its practical implementation in Latvian companies on the basis of the study, analysis and generalization of the scientific economic publications in the field of company performance. The research is based on the analysis and evaluation of special literature and scientific publications on the non-financial indicators of business activity and their role in the evaluation of company performance. General logical analysis and synthesis methods as well as content analysis and monographic analysis are used in the research. The article is focused on the analysis and evaluation of previous researches on the non-financial indicators of business activity, overview and systematization of non-financial indicators used in the evaluation of business activity, including small enterprises performance. DOI: http://dx.doi.org/10.5755/j01.eis.0.5.1099