Financial Stability Of Enterprise Research Articles

МЕТОДИЧНІ ЗАСАДИ ОБЛІКУ ТА ОПОДАТКУВАННЯ ОПЕРАЦІЙ ВІДПОВІДАЛЬНОГО ЗБЕРІГАННЯ ТА ОРЕНДИ

In today's conditions of a shortage of own financial resources in enterprises and the lack of the possibility of obtaining loans, the most affordable and effective way of financing the current needs in the organization of the enterprise's activities is the lease of fixed assets. Places for storing stocks and warehouses are needed by enterprises of almost any industry and field of activity. The easiest way to get such non-negotiable assets at your disposal to ensure your specialized activity is to enter into a lease relationship. On the other hand, in the current crisis conditions, for some enterprises and organizations, even the use of lease schemes of relationships can be a burdensome process that requires the diversion of resources to the maintenance of leased space. For a business whose activity is connected with certain material values, the need to organize the storage of its products or goods in a warehouse is extremely important. Renting or buying warehouse space in the short term may not be profitable for the enterprise. It is necessary to organize unloading and loading of goods or products, purchase warehouse equipment, install video surveillance and security alarms, hire staff. One of the work organization options is the outsourcing of warehouse processes and the use of a responsible storage service. This article examines the importance of leasing primary assets as a strategic mechanism to meet the current needs of businesses, especially in the context of limited credit opportunities and a deficit in their own financial resources. The authors thoroughly analyze various aspects and forms of leasing relationships, including full-service leasing, "pure" and "general" leasing, as well as their specific characteristics. A significant role in the study is the impact of modern information technologies on leasing relationships, particularly through the concept of "sharing". The issue of responsible storage as a key component of the logistical chain, which is of great importance for businesses, is separately highlighted. The authors propose new approaches to the methodology of reflecting costs for services of responsible storage and leasing, aimed at increasing the accuracy of calculations for the tax base of corporate income tax. The article makes a substantial contribution to the understanding of the complexity of leasing relationships and their impact on the financial stability of enterprises in modern economic conditions.

A balanced scorecard system as a character of the enterprise's financial stability

A balanced scorecard system as a character of the enterprise's financial stability

The Impact Mechanism of Digital Transformation on the Risk-Taking Level of Chinese Listed Companies

As the core engine of the digital economy, the digital transformation can make modern enterprises survive and develop better now. By the sample data of listed companies in the years from 2015 to 2020, this paper identifies the degree of enterprise digital transformation through text analysis, empirically examines the impact mechanism of digital transformation on corporate risk-taking, and fully considers the heterogeneity problems. The findings are as follows: (1) Digital transformation can improve the level of enterprise risk taking, especially the improvement of enterprise financial stability and strategic risk taking; (2) in terms of enterprise attribute structure, digital transformation can significantly enhance the risk-taking level of non-state-owned enterprises and high-tech enterprises; (3) the mechanism identification test finds that innovation-driven and enterprise value enhancement play a strengthening role in the role of digital transformation in promoting enterprise risk-taking level, and resource allocation efficiency as a mediating path weakens the role of digital transformation on enterprise risk-taking level. This study provides a basis for promoting the improvement of enterprises risk-taking: digital transformation can help enterprises maintain financial stability, improve innovation output capacity, enterprise value level, enterprise risk-taking capacity and sustainable development. At the same time, the Chinese government should take measures to further stimulate the willingness of state-owned enterprises to digital transformation.

БАЛАНСУВАННЯ РІВНІВ ПОДАТКОВОГО НАВАНТАЖЕННЯ ТА ФІНАНСОВОЇ СТІЙКОСТІ ПІДПРИЄМСТВ АЕРОКОСМІЧНОЇ ГАЛУЗІ

The government implements a number of measures to regulate and stabilize the economic situation. In the field of taxation, the most important measures are related to the implementation of tax policy. At the same time, one of the instruments of the tax policy of the state is the regulation of the tax burden. Its value is extremely important for the effective development of the economy, as it ensures a balance between taxpayers and the state by maintaining the motivation for activity in the former and providing financial resources to the latter. The assessment of the impact of the tax burden on the financial stability of the economic entity is one of the current areas of research, as it creates an informational and analytical basis for the development of management solutions aimed at preserving the sustainable development of the aerospace industry enterprise. The purpose of the study is to develop an approach to balancing the levels of the tax burden on the financial stability of the aerospace industry enterprise. Scientific publications and monographic editions, magazine articles and materials of scientific and practical conferences became the methodological basis of the research. Content analysis of scientific periodicals was used during the research; comparative critical analysis of existing approaches and methods of analysis of financial stability and tax burden; analysis of economic activity of enterprises in the aerospace industry; statistical methods of analysis. The main hypothesis of the study was an assumption about the possibility of optimal balancing of tax burden levels and financial stability of aerospace enterprises. Presenting main material. The article examines the main shortcomings of the interpretation of the concept and determination of the level of tax burden in Ukraine, evaluates their influence on the determination of the balanced level of tax burden and financial stability of enterprises in the aerospace industry; the existing approaches and methods of assessing the impact of the tax burden on the financial stability of the enterprise are analyzed; a methodical approach was developed for assessing the impact of the tax burden on the financial stability of aerospace enterprises. The originality and practical significance are defined in the development of a methodical approach to assessing the impact of the tax burden on the financial stability of aerospace enterprises, which involves the step-by-step calculation of the integral indicator of financial stability. Conclusions and prospects for further research. It is proven that the tax policy of Ukraine today focuses on the performance of the fiscal function, while its regulatory and stimulating functions are minimized. Such a trend creates the problem of tax policy optimization, which remains one of the most relevant in the process of establishing market relations and ensuring economic growth of Ukraine. The methodology for determining the balanced level of the tax burden is a measure of structuring the tax relations of the state, legal entities and individuals, taking into account and balancing the interests of each of the parties. The implementation of the proposed methodology for determining the balanced level of the tax burden is a new, previously unproposed solution for structuring tax relations in Ukraine, which is its practical significance

Capital formation of livestock production enterprises in Ukraine

Animal husbandry is a strategic branch of agriculture that provides the population with valuable food products and industry with critical raw materials. One of the prerequisites for the successful functioning of livestock production enterprises is the effective formation and use of capital. This process is fundamental in times of war, as it affects the financial and economic stability of enterprises in the industry. The article describes the research results on the theoretical and practical features of the formation of the capital of livestock production enterprises based on the analysis of statistical data for 2015-2021. The main trends of changes in the balance indicators of livestock enterprises in Ukraine are determined. An analysis of the specific weight of enterprises producing livestock products in the formation of aggregate indicators of the balance sheet of agricultural enterprises of Ukraine for the studied period was carried out. The main internal and external factors of capital formation of enterprises have been established. The structure of the equity capital of enterprises in the livestock industry was studied according to the primary sources of formation. Based on the conducted research, it was established that for 2015-2021, the leading indicators of the balance sheet of enterprises of the industry increased until 2020; however, after the decrease in the economic efficiency of production in the livestock industry of Ukraine, there was a sharp decline in the value of non-current assets at the level of 12 % and a moderate decrease in the value of equity - by 6%, especially in the last year of the studied period. The structure of own capital has also worsened, in which the specific weight of reserve capital, for example, in poultry and pig breeding, has decreased to 1%, which indicates the strengthening of destructive processes in the financial stability of enterprises in the specified areas of animal husbandry. The situation is better for dairy enterprises, where a higher level of reserve capital (7%) in equity capital structure is observed. The analysis of the current liabilities of livestock production enterprises indicates a significant share of short-term loans - at the level of 30%, which, in the conditions of increased interest rates for loan capital, will potentially affect the deterioration of the financial stability of many enterprises that operate with a low level of economic efficiency. A negative phenomenon for the formation and use of capital of enterprises in the livestock industry was the strengthening of the impact of price disparity in 2020-2021, which reduced the profitability of the production of most types of products, particularly pork, poultry meat, and eggs. The decrease in the value of equity and non-current assets is significantly influenced by the material losses received during the war, which led to a reduction in the scale of production, a decrease in economic efficiency, and the cessation of enterprise activity.

TOURISM AND HOTEL AND RESTAURANT MARKETING: MODERN CHALLENGES

In the conditions of a high degree of commercialization and a competitive environment, issues of development of the tourism and hotel and restaurant industries should be developed taking into account a comprehensive approach to the systematization of all elements of development, also taking into account external challenges. Accordingly, in order to ensure the effective operation of tourism and hotel and restaurant enterprises, it is advisable to address the issue of implementing marketing measures. The purpose of the article is to determine new tasks and priorities of the marketing system in tourism and the hotel and restaurant industry, taking into account modern challenges and development prospects. The article defines the tasks of marketing technologies in the processes of ensuring operational activity, strategic development of tourism and hotel-restaurant enterprises, in particular, it is noted that it is marketing mechanisms through analysis that can ensure the determination of strategic vectors for the development of the tourism and hotel-restaurant industry, as well as individual enterprises of the industry. The article analyzed the challenges of the external and internal environment to the development of tourism and the hotel and restaurant industry, in particular, the consequences of quarantine restrictions and the full-scale military invasion of Ukraine by the Russian Federation were analyzed. A significant reduction in sales volumes in the field of tourism and hotel and restaurant industry, a decrease in the level of financial and economic support and financial stability of enterprises was determined. The article analyzed the trends in the development of tourism and the hotel and restaurant industry, which consist in the reduction of the main financial and economic indicators due to external influences and the formation of deferred demand. As a result, the role of marketing in the development of tourism and the hotel and restaurant industry was substantiated. As a result of the conducted research, the cyclical process of implementing a system of marketing mechanisms aimed at identifying new requests and forming transformational processes for the development of enterprises in the field of tourism and the hotel and restaurant industry is presented. An algorithm for the use of marketing mechanisms in business has been developed in order to ensure investment attractiveness, financial stability and orientation to the modern needs of the client in the field of tourism, hotel and restaurant business. Keywords: marketing, tourism, hotel and restaurant business.

ASSESSMENT OF THE IMPACT OF STATE SUPPORT MEASURES ON THE FINANCIAL STABILITY OF ENTERPRISES

The article presents the results of assessing the impact of state support measures on the financial stability of enterprises. The object of the analysis was LLC "Manufactory "Traditions of Knitwear" (Cheboksary). Various methods were used in the course of the study: correlation and regression analysis, comparison, systematic approach, graphical method. The main problem of the enterprise caused by the COVID-19 pandemic was the stagnation of sales, overstocking, and an increase in the duration of the financial cycle, which significantly reduced the cash flows of the enterprise and led to its financial instability. However, the negative impact of the pandemic has been mitigated by government support measures. To assess the impact of these measures on the financial stability of the enterprise, a model was developed for the dependence of revenue as the indicator most sensitive to changes in the macroeconomic environment on the value of short-term loans and the average number of employees. It showed that the attraction of loans within the framework of state support allowed LLC "Manufactory "Traditions of Knitwear" to increase revenue by 40086.86 thousand rubles. The retention of more than 80% of the number of employees, which was stipulated by the loan agreement, provided the company with the opportunity to contain the decline in revenue at the level of 1413.03 thousand rubles. As recommendations for the further use of state support measures for small businesses, there is regular monitoring of official information resources on the assistance provided to enterprises in the context of a pandemic, monitoring compliance with the requirements for recipient enterprises and the use of other forms of state support.

Ways to Reform the Banking System of Ukraine to Ensure the Financial Stability of Economic Entities

The article analyses the main directions of reforming the banking system of Ukraine. The relevance of the study is conditioned upon the need to improve the stability of the country's financial system. The reason for the decline in the economic situation is the political situation in Ukraine. The purpose of the study is to clarify ways to ensure the financial stability of enterprises for long-term and sustainable economic development. In the course of the research philosophical and general scientific methods were used , in particular historical-logical, economic-statistical, factorial methods, including theoretical and comparative analysis. The author assesses the consequences of the application of some methods at certain stages of development of the banking system, identifies the main priority areas of its development; the approaches to definition of essence and features of development of financial resources of the enterprise are analysed; the relationship between the financial stability of the state structure and the financial stability of the enterprise is identified; measures to ensure the financial stability of the enterprise, and opportunities to improve the system of ensuring and forecasting financial stability. The rapid development of information technology, which allows Ukrainian banks to expand the range of services; increasing the financial literacy of clients and implementing programs aimed at maintaining the stable condition of domestic financial institutions. A detailed analysis of management elements, functions and principles of development of financial resources of the enterprise is given. The analysis allows stating that the financial resources of the enterprise should be defined as a set of own funds of the organization and external financing, which can be used to form fixed and current assets needed to conduct business and support expanded production. Having a high transformative capacity, the financial resources of the enterprise are the main component of financial potential, a factor of economic and social development. The article identifies the factors influencing the financial stability of the enterprise, and areas for improving public financial control in the context of financial security of Ukraine. The urgency of the researched problem is determined by the need to develop a strategy of financial security of Ukraine in view of the problems that complicate it. Analysis of the financial stability of the enterprise is the most important step in assessing its performance and financial and economic well-being

Financial Stability of Enterprise as the Main Precondition for Sustainable Development of Economy

The problem of financial stability of a modern enterprise predestines a long-term development of state. The long-term development strategy-making concepts, binding to each member state, have been legislated in the European Union. A sustainable development is a balanced and socially responsible economic development subject to preservation of the environment and resources for the benefit of future generations. A national sustainable development plan prior to 2020 is required for each EU country. Under the development priorities situation typical to Baltic States, featuring a relative deficiency of mineral resources with some possibilities of development of high-end technologies, transit industry may be deemed the main priority. The enterprise financial stability concept is the main objective, regarded as a mandatory condition for ensuring a long-term and sustainable development as exemplified by the two renowned air carriers. The methods of scientific research most frequently applied in economics domain have been used: monographic, comparative, hierarchical and quantitative methods of financial ratios.

ANALYSIS OF INTERNATIONAL RATINGS OF UKRAINE IN THE CONTEXT OF ENSURING ECONOMIC SECURITY

Factors that have a negative impact on the economy of the country were identified: geopolitical and financial and economic instability, inflationary fluctuations, migration processes, decline in financial stability of enterprises and their bankruptcy, etc. This necessitates the development of monitoring mechanisms, theoretical and methodological approaches and their practical implementation, aimed at the objective analysis and assessment of Ukraine's rating positions in the context of ensuring its economic security. This is an important methodological toolkit during the recovery and adaptation phase of the country's economy in the postwar period. The threats posed by hybrid warfare encompass all areas of the country's socio-economic development and negatively affect the level of its economic security. That is why the analysis of Ukraine's international rating positions should be comprehensive and aimed at identifying negative factors in order to develop appropriate programs and measures to minimize their impact and maintain the level of economic security of the state. The purpose of the study is to analyze the international ratings of Ukraine in the context of economic security. To analyze the rating positions of Ukraine in the context of economic security, a research panel containing general and specific international ratings and indices is used. The matrix of correspondence of international ratings and indices to the functional components of the economic security of Ukraine is constructed. A retrospective analysis of Ukraine's positioning in international rankings (ICT Development Index, Global Cybersecurity Index, Speedtest Global Index, ND-GAIN Country Index, International Property Rights Index, Fragile States Index, PowerIndex) was conducted. The methodological support for the calculation of these indices is considered. The results of the analysis show that most of the considered specific indices of independent rating agencies have a positive trend. The dynamics of the integral index of economic security of Ukraine for 2010-2022 is presented.

ОРГАНІЗАЦІЙНО-ЕКОНОМІЧНИЙ МЕХАНІЗМ УПРАВЛІННЯ ФІНАНСОВОЮ СТІЙКІСТЮ ПІДПРИЄМСТВ

The research aim is to develop an organizational and economic mechanism for managing the financial stability of enterprises on the basis of rationalization of the volume and structure of their assets and capital. The relevance of the research topic is explained by the unsatisfactory level of financial stability of many Ukrainian enterprises. This situation requires the implementation of organizational and economic measures set to manage the financial stability of such enterprises, which requires a preliminary assessment of the existing level of this stability. The research aim to be achieved , a number of general scientific and special methods were used, in particular: generalization - to form the theoretical foundations of managing the financial stability of companies; grouping - to determine the main directions and ways to improve the financial stability of business entities; economic and mathematical modeling - to build mathematical models to substantiate the rational values of indicators for assessing the financial stability of enterprises; system and economic analysis - to compile a sequence of planning measures to improve the financial stability of enterprises, etc. In the course of the research was established, in particular, that the improvement of the financial stability of the enterprise requires the simultaneous improvement other components of its financial condition, first of all - business activity and profitability. Having this in view, four areas have been identified to increase the financial stability of companies, each of which contains several ways to increase this. The general improvement sequence of the financial stability level of the enterprise was developed, which contains the following main stages: 1) determination of desirable values of certain indicators the enterprise financial stability; 2) establishing opportunities to accelerate the turnover of working capital of the enterprise; 3) determining the possibility of increasing the amount of profit (reduction of losses) of the enterprise; 4) assessment of available reserves to increase the equity of the enterprise by increasing the size of its share capital. Using the approach proposed in this paper to the development of organizational and economic mechanism aimed at improving the management of enterprises' financial stability may ensure their ability to timely and fully meet their obligations to their creditors.

A balanced scorecard system as a character of the enterprise's financial stability

A balanced scorecard system as a character of the enterprise's financial stability

Prospective solvency in ensuring the financial stability of the enterprise

Issues of ensuring the financial stability of enterprises are extremely important for the socio-economic development of Ukraine. Stable operation of the enterprise is possible only if the appropriate level of solvency of the enterprise. That is why the issues and problems related to ensuring solvency are given much attention in the scientific works of scientists from both foreign and domestic scientific schools. At the same time, insufficient attention is paid to long-term solvency as an important component of the system of ensuring the stable functioning and development of the enterprise in the future. The task of the study is to analyze the approaches of scientists to the interpretation of the essence of prospective solvency and its role in ensuring the stable operation of the enterprise, determining the characteristic causes of its decline in modern socio-economic development of Ukraine; development of a proposal to ensure the solvency of the enterprise in the future. In the process of research general and special methods were used: analysis and synthesis, method of comparison, generalization, statistical, etc. The article considers the essence of perspective solvency of the enterprise and its role in ensuring stable functioning of the enterprise. The factors that determine it are systematized. The conceptual model of providing perspective solvency of the enterprise for the purpose of stable functioning and development of the enterprise which provides: definition of system of the corresponding indicators of perspective solvency for their constant monitoring is offered; finding out the possible reasons, which may result in loss of prospective solvency; the sequence of implementation of the necessary measures for its restoration and provision in the future. The results of this study can be used in the process of enterprise management to determine the real state of its solvency and develop measures to ensure it in the medium and long term.

ОПТИМИЗАЦИЯ РАСЧЕТОВ КРЕДИТОСПОСОБНОСТИ И ФИНАНСОВОЙ УСТОЙЧИВОСТИ ПРЕДПРИЯТИЯ

This article considers the problems associated with optimizing the calculations of the enterprise creditworthiness and financial stability. As an example, the enterprise OJSC “BRYANKONFI” is given. The directions of optimizing the enterprise creditworthiness and financial stability are examined; the business activity of the counterparty is assessed; as well as financial results due to the proposed activities are forecast.

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.

ОСОБЛИВОСТІ ОБЛІКУ ДЕБІТОРСЬКОЇ ЗАБОРГОВАНОСТІ ЗА НАЦІОНАЛЬНИМИ І МІЖНАРОДНИМИ СТАНДАРТАМИ

The article highlights the features of accounting receivables at the enterprise based on a comparison of national and international standards. The authors identified conceptual problems in accounting receivables and clearly outlined the differences between national and international accounting standards. An explanation of the differences in the standards themselves as the basic regulations governing the reflection of receivables in accounting. The experience of foreign countries, in particular the United States, on the peculiarities of accounting receivables is also reflected. The concept of bad receivables and its reflection in national and international standards is defined separately. An important role is played by the classification of receivables for accounting and reporting purposes. The authors identified possible threats in case of non-compliance with the rules of classification of receivables and risks to the financial stability of enterprises. An important place in the article belongs to the question of the relationship between the concepts of bad receivables and receivables to be written off, i.e. the statute of limitations has expired. It should be noted that International Financial Reporting Standards do not have an interpretation of the concept of "Accounts receivable", as defined in the Ukrainian accounting legislation. This becomes a contradictory point in the preparation of financial statements according to international standards. That is why the authors propose to apply a specific classification of receivables depending on the maturity in order to simplify the preparation of financial statements. Also the accrual of the provision for doubtful debts and the choice of the method of its calculation in accordance with national provisions (standards) of accounting and financial reporting is important. Proper and timely calculation of the doubtful debts provision gives companies the opportunity to reduce the base of income tax. Most Ukrainian companies choose the "absolute amount" method, which is a simpler and more realistic option if there are not many overdue debts. The authors also suggest options for improving the accounting of receivables in accordance with national and international standards.

MAIN ASPECTS OF THE DEVELOPMENT OF THE MARKET OF AVIATION SERVICES OF UKRAINE

The main aspects of the market of aviation services of Ukraine considered in the article. An assessment of the characteristics of the service. The factors influencing the components of the cost of services substantiated. The interdependence of value and value of services taking into account risks revealed. The purpose of the study is to assess the characteristics of air services and identify the interdependence of value and value of air services, taking into account the risks that will ensure future growth in traffic, which will positively affect the quality of service, financial stability of enterprises, and at the same time. The study of literature sources and approaches to solving the problem showed that given the significant changes in the market of transport airlines, determining the components of the cost of the service requires further study and research. The research in the article carried out in the following logical sequence: the interdependence of the value and cost of air services revealed, taking into account the risks of civil aviation enterprisesю. The substantiation of the economic model of the cost of the service provided by the enterprises of the aviation industry carried out, taking into account the specifics of the activity and the influence of factors. The methodological tools of the study were: the method of questionnaires, the method of expert assessments, systematic analysis and statistical analysis to identify trends and patterns, the study period selected years from 2017 to 2019. The object of study selected aviation services of Ukraine, as the effectiveness of aviation services a decisive factor in ensuring the competitiveness of airlines. The article evaluates the characteristics of services of civil aviation enterprises by harmonizing the value and cost of the service taking into account the risks, which revealed the presence of the following interdependent values and the cost of the service, in particular, components of the cost of service provided by civil aviation enterprises. Cargo characteristics cost of loading and unloading works, fixed costs, variable costs, insurance, tax-on-cargo and profit. The results of the study can be useful for the management structures of airlines involved in the restoration and development of national aviation.

Analysis and forecasting of the enterprise financial stability

The purpose of the articles is to determine the role of financial stability analysis as an important component of the comprehensive analysis of the entity financial condition. Systematic assessment of financial stability makes it possible to use timely the strategy and tactics of enterprise development, take reasonable management decisions, control liquidity, solvency and financial stability of the enterprise. As a result of the investigation, the following tasks are solved in order to achieve the goal: the type of the financial stability of confectionery enterprise is clarified; qualitative analysis of financial stability is carried out; the dynamics of changes in financial stability is analyzed; financial forecasting by means of integrated indicator based on taxonomic approach is done. General and special methods and techniques of economic problems research for tasks solution such as: synthesis, induction, deduction, generalization, aggregate method, comparative analysis of deviations, coefficient and margin method, standardization of indicators, forecasting, trend analysis method, graphical method are used. The object of the investigation is PJSC «Mondeliz Ukraine». The results of the analysis for the period 2017–2020 indicate the unstable financial condition, violation of the enterprise financial stability; but due to the trend line we forecast the increase in the integrated taxonomic indicator of financial stability in future. The generalized indicator of the change of enterprise financial stability confirms conclusion about the increase of enterprise financial stability in dynamics. The solution of the problem of increasing the financial stability and balance of PJSC «Mondeliz Ukraine» and increasing the availability of own funds is possible primarily by increasing sales, profits and, accordingly, increase profitability. However, measures to strengthen financial stability can give positive results only if they are comprehensive, systematic, mandatory. The prospects for further investigation are to identify the relationship between the level of financial stability and the synchronicity of the enterprise time-balanced cash flows formation.

Financial stability of enterprises in Serbian agriculture, fishing and forestry sector

The main aim of this research paper is to examine financial stability, including indebtedness, interest coverage, and profitability of enterprises in Serbian Agriculture, fishing, and forestry sector. The research was performed using the tools of accounting and financial analysis. Period from 2015 to 2019 was observed. Analysis was based on consolidated financial statements for all enterprises that belonged to the sector in mentioned period. Research results show that the enterprises managed to maintain acceptable level of long-term financial stability, while on the other hand, there was a more significant disturbance on the side of short-term financial stability. Solid performances were recorded in the field of interest coverage, but also indebtedness where those indicators met referent values in almost every observed year. In the field of profitability that was examined via ROA and ROE indicators, poor performance was recorded.

System for evaluation of business entities financial sustainability under global challenges conditions

The need to ensure financial stability of businesses under global challenges conditions is highlighted in this paper. The company financial stability is one of the most important characteristics of the company financial condition, associated with the level of dependence on creditors and investors and is characterized by the ratio of equity and liabilities. The existing methodological approaches for the evaluation of the enterprise financial stability are analyzed. The evaluation of financial stability on the example of metallurgical enterprise by coefficient, score and integrated methods is carried out. The coefficient analysis shows that the most of financial stability coefficients in the dynamics have decreased and are not within the normative values. While analyzing the financial stability type, it is determined that the enterprise in 2018–2020 had unstable financial condition, which indicates solvency violation. The results of the financial stability analysis by scoring method, according to which the coefficients are assigned the appropriate score depending on the approximation to the normative indicator, led to the conclusion that PJSC «AZOVSTAL» in 2018–2020 was included to the fifth class, i.e. crisis enterprise of the highest risk, practically not solvent. The evaluation of financial stability by the integrated method, according to which the value of the integrated indicator should be closer to one, showed that the enterprise financial stability in 2018 was bad, in 2019 very bad, and in 2020 satisfactory. The measures to increase the enterprises financial stability depending on the financial stability level are proposed, particularly, for the investigated enterprise it is proposed to improve financial flow planning, implementation of real payment calendars, creation of financial responsibility centers and strengthening control over them by the holding, which always make it possible to have reliable information about the company's cash flows and increase the controllability of current payments, reduce losses from the funds misuse. It is also proposed to accelerate the turnover of enterprise resources, which will improve the overall efficiency of activities.