Level Of Financial Stability Research Articles

The Probability of Hospital Bankruptcy: A Stochastic Approach

Healthcare leaders are faced with many financial challenges in the contemporary environment, leading to financial distress and notable instances of bankruptcies in recent years. What is not well understood are the specific conditions that may lead to organizational economic failure. Though there are various models that predict financial distress, existing regression methods may be inadequate, especially when the finance variables follow a nonnormal frequency pattern. Furthermore, the regression approach encounters difficulties due to multicollinearity. Therefore, an alternate stochastic approach for predicting the probability of hospital bankruptcy is needed. The new method we propose involves several key steps to better assess financial health in hospitals. First, we compute and interpret the relationship between the hospital’s revenues and expenses for bivariate lognormal data. Next, we estimate the risk of bankruptcy due to the mismatch between revenues and expenses. We also determine the likelihood of a hospital’s expenses exceeding the state’s median expenses level. Lastly, we evaluate the hospital’s financial memory level to understand its level of financial stability. We believe that our novel approach to anticipating hospital bankruptcy may be useful for both hospital leaders and policymakers in making informed decisions and proactively managing risks to ensure the sustainability and stability of their institutions.

Some aspects of risk assessment in the analysis of the financial condition of leasing companies

The assessment of the financial condition in the leasing segment is based on leasing legislation, practice and a system of automated processes that implement differentiated approaches to managing financial condition, risks, and the level of financial stability, taking into account the parameters of transactions and counterparties. In the last decade, we can state an increasing trend towards the development of technology in the processes of assessing the financial condition of leasing companies with the help of best practices in the use of mathematical apparatus and big data. In order to supplement the scoring models and analytical expert sections of leasing companies with data, projects have begun to operate to introduce additional information sources into the analysis of the financial condition of the main operations of leasing companies in Russia. The assessment of risks and their impact on the work of leasing companies, the expansion of their presence in the market, or the curtailment of activities, are the most important and relevant component in the analysis of the financial condition of leasing companies and always aimed at improving financial and economic indicators for the further development of economic entities in the field of leasing.

НАПРАВЛЕНИЯ ПОВЫШЕНИЯ ФИНАНСОВОЙ УСТОЙЧИВОСТИ РОССИЙСКИХ КОММЕРЧЕСКИХ БАНКОВ: СРАВНИТЕЛЬНЫЙ АНАЛИЗ

This article presents recommendations for improving the financial stability of various types of Russian credit institutions. Currently, the main problem associated with the methodological justification and practical implementation of these tools is the pres- ence of different types of banks in the credit system of the Russian Federation, which implies different conditions for their functioning. In this regard, the task of develop- ing practical tools for improving the financial stability of various types of banks be- comes urgent. The purpose of this study is to scientifically substantiate a set of measures aimed at improving the financial stability of Russian commercial banks. The main objectives of the study are to identify problems related to the achievement of financial stability of banks, scenario forecasting of solutions to this problem, economic justification of the effectiveness of the proposed measures. Federal and regional banks were chosen as the object of this study: this sample is due to the unequal opportunities to attract and sources of financial resources of this type of banks, which is one of the key fac- tors to ensure their financial stability. This also determined the direction of recom- mendations for the object of research we have chosen. The main conclusion of the study is to determine the degree of effectiveness of vari- ous measures and their impact on the financial stability of the type of banks under consideration. It is proved that for regional banks, the greatest effect is provided by such measures as the attraction of a subordinated loan, as well as the securitization of mortgage loans. The operating income of this type of banks is also important. For the federal bank, a measure to reduce interest expenses and increase income from inter- est-bearing transactions has a more significant impact. Operating income and ex- penses for this type of bank have less impact on the level of financial stability. It is also worth noting that to increase financial stability, it is necessary to take measures at the macro level. The direction of further research on this topic may be related to the justification of macroeconomic trends, as well as the justification of their impact on Russian tanks of various types. The results obtained in this study take into account the differences between the banks-objects of research and allow us to scientifically prove and specify the directions for improving financial stability that are relevant for each of them.

Improving the financial stability of agricultural producers

The financial stability of agricultural organizations is characterized by the provision of their own financial resources sufficient for stable economic and social development. In the state program “Development of agriculture and regulation of agricultural products, raw materials and food markets” in force until 2025, both in the country and in the Republic of Tatarstan, increasing the financial stability of agricultural producers is a priority goal. According to the results of the research of the author of this work, it has been established that the current liquidity ratio is a relatively acceptable single indicator of financial stability. At the end of 2021, 566 agricultural organizations have introduced production activities in the Republic of Tatarstan. Their share in the volumes of grain produced by all categories of farms was 74%, sugar beet – 87.5%, livestock and poultry – 75.3%, milk - 63.6%, eggs – 77.4%. The average coefficient of their current liquidity is 160%, which is significantly lower than the standard value. This indicator of financial stability depends on internal and external factors. Taking into account the leading role in external factors of state support, the purpose of this study was to study its effectiveness. The results showed that there is practically no connection between the level of financial stability and state support for agricultural organizations. In conclusion, it is proposed that part of the budget subsidies should be tied to the level of their profitability without subsidies as a stimulus to the economic efficiency of production.

Financial Methods for Equating with Some Categories of the Organization’s Obligations to its Own Funds

The implementation of financial and analytical procedures is an important stage of making appropriate management decisions in the implementation of economic activities. During the financial analysis of the organization’s activities can determine such indicators as the level of financial stability, solvency, liquidity of the company, its market value and other important indicators, without knowledge of which it is difficult to make adequate and effective management decisions. The purpose of the study is to determine the financial instruments of equating certain categories of an organization’s liabilities to its own funds within the framework of financial and analytical procedures. During the research, the author used such methods as content analysis of sources, analysis, synthesis, generalization, scientific abstraction, analogy. The author shows that the interpretation of the concept of «obligation» from the point of view of various areas of economic science (accounting, audit, taxation, valuation, financial analysis, etc.) can have different meanings. The author analyzed a number of normative legal acts and the practice of applying retraining (equating) obligations to own funds. As a possibility of equating obligations, the author considers subordinated borrowed funds; long-term borrowed funds and long-term accounts payable; minimum regulatory accounts payable arising as a result of a gap in the terms of accrual and payment (fixed liabilities); debt and accounts payable to affiliated entities; certain elements of deferred income; certain elements of reserves future expenses and other equated to own funds of obligations. It is concluded that individual liabilities, considered by accounting science and jurisprudence as liabilities, from a financial point of view (in certain situations, taking into account the relevant goals and objectives of financial analytical procedures), can be equated to the organization’s own funds.

THE ESSENCE AND SIGNIFICANCE OF THE STRATEGY OF ENSURING THE FINANCIAL AND ECONOMIC SECURITY OF INDUSTRIAL ENTERPRISES

The article found out that the results of the financial and economic activity of enterprises are under the negative influence of the market environment. In addition, threats and risks can lead to a decrease in the level of financial stability, instability of activity, unprofitable functioning and bankruptcy of enterprises. Accordingly, it is expedient to timely identify and analyze factors of the external and internal environment, develop measures to neutralize their negative impact. All this is possible under the condition of a stable level of financial and economic security and the use of tools to ensure it, which will allow the enterprise to resume work, ensure the stability of functioning and determine the directions of development. Among such tools, the strategy of ensuring financial and economic security plays an important role. It was determined that the success of the enterprise depends on the level of economic security, which allows to protect it from the negative influence of the market environment. It is substantiated that one of the important components of economic security is financial security, which ensures the improvement of financial indicators of activity, the rational use of financial resources, and the growth of financial stability. A thorough analysis of the existing approaches of scientists to the definition of the concept of “economic security”, “financial security”, “financial and economic security”, “strategy for ensuring financial and economic security” was carried out. The absence of an approach to the interpretation of the definition “strategy for ensuring the financial and economic security of the enterprise” was established, and an own vision of this concept was formed: a model of actions, tools for ensuring a stable level of economic and financial security by applying approaches, methods, functions, principles, software and resource support, taking into account interaction with the development strategy, management system and mechanism, which will guarantee the restoration, improvement, maintenance of the state of financial and economic activity, the level of financial and economic security, the avoidance of a crisis situation, the neutralization of the influence of factors, threats, risks in the short- and long-term period, provided that the appropriate type of strategy and will contribute to economic and financial development, the formation of economic balance. The difference between the proposed concept of “strategy for ensuring the financial and economic security of the enterprise” and already existing approaches is substantiated.

Investment Attractiveness of the Hotel, Restaurant and Tourism Business in Ukraine: Financial Indicators of Internal Threats

Topicality. In the current realities of Covid-19 pandemic and martial law in Ukraine, every enterprise must focus on the processes transformation of provision and development, which allow to quickly respond to their activity, challenges and modifications in order to be attractive for investment.
 The aim of this article is a comprehensive assessment of the investment attractiveness of hotel, restaurant and tourism businesses based on the usage of the offered three-stage system of financial indicators.
 Research methods. The research uses common scientific and empirical techniques found on the systematic approach: abstract-logical, grouping, comparison, graphic, coefficient, modelling, analysis and synthesis, formalisation, generalisation ones.
 Results. The system of comprehensive assessment of the investment attractiveness of hotel, restaurant and tourist business enterprises has been substantiated, which involves the use of key financial indicators that allow determining the level of liquidity and profitability of activities, as well as the level of financial stability and profitability of financial resources. The relationship between certain groups of indicators made it possible to construct identification matrices of the state of investment attractiveness of current activities, and the state of general investment attractiveness of enterprises, as well as a nine-quadrant zoning matrix of the general state of enterprise investment attractiveness. Approbation of the offered evaluation system, based on official statistical data, made it possible to analyse the dynamics of the state of investment attractiveness of hotel, restaurant and tourism businesses from the standpoint of internal financial threats for the period 2013–2021.
 Conclusions and discussions. The practical use of the offered three-level evaluation system proves that it is a convenient, simple, clear and effective tool for diagnosing the level and the state of the enterprise investment attractiveness. The use of the offered approach can become an effective mechanism for managing the current activities of hotel, restaurant and tourism businesses, and an informative toolkit of factor analysis in the process of managing their investment attractiveness from the standpoint of internal financial threats.
 The scientific novelty of obtained research results lies in the substantiation and approval of modern tools for comprehensive assessment of the investment attractiveness of hotel, restaurant and tourism enterprises from the standpoint of internal financial threats, which allows for effective management of it in the current period, and can also become the basis for forming strategic directions of financial development and forecasting the level of nvestment attractiveness for the prospective period.

Formation a methodology of integral assessment for regional economic entities’ level of financial stability

The article is devoted to the analysis of existing domestic and foreign methods for assessing the probability of bankruptcy of organizations in the region. When assessing the financial stability of the entity’s enterprises, various methods are used to assess the financial stability of an organization, the most common approach of which is the coefficient method. However, methods that use factor analysis, which builds a linear dependence of indicators of the financial and economic condition of a regional subject, are gaining popularity. These models are also called bankruptcy prediction models. One of the most popular models is Altman’s five-factor forecasting model and the four-factor model for non-manufacturing organizations. Altman’s approach is simple and versatile. However, this Altman model does not take into account the individuality of the company. British scientists G. Tishaw and R. Taffler modernized Altman’s model. One of the first Russian models for predicting the bankruptcy of economic entities was developed by A.Yu. Davydova and A.Yu. Belikov. This model took into account the relationship between such factors as working and equity capital, assets, net profit, cost and revenue. The following model, showing the financial stability of an enterprise, was formulated by Savitskaya. From the analysis of existing methods and models for assessing the financial and economic condition of regional economic entities, it follows that it is advisable to build a model taking into account: firstly, the individual characteristics of a particular organization; secondly, the choice of indicators and their weighting coefficients in the model must be scientifically justified. Therefore, the paper proposes to determine the financial stability of an organization in the region to form a model that includes the most commonly used in practice, namely the above five models for assessing the probability of bankruptcy of enterprises. At the same time, the industry specifics of organizations were taken into account. The purpose of the study is to form a methodology for assessing the integral level of financial stability of organizations in the region and determining the possible boundaries of its variation. In the course of the study, such methods as comparative, component and factor analysis, experiment were used. The paper presents a methodology for the formation of a generalized factor model for assessing the level of financial condition of regional organizations. The critical values of the integral indicator characterizing the level of financial condition of organizations are also determined.

Financial Stability and Creating Financial Stability Index for Turkey

This study aims to create an index, which will be used for monitoring financial stability for Turkey. For this purpose, firstly the concept of financial stability was defined. As a result of the literature review, the variables considered to give information about financial stability were examined and the variables were grouped by principal component analysis. Finally, generated factors were subjected to logistic regression. The variables which were examined in the study include a total of 57 quarters, which is between the second quarter of 2003 and the second quarter of 2017. Three different dependent variables were used in the logistic regression analysis, each of which was formed by taking into consideration the “break points” in the independent variable series. All variables included in the financial stability index were standardized. The financial stability index was formed with the results obtained by the logistic regression analysis, and then; the contribution of the variables to financial stability was interpreted. It will be possible that the stakeholders in the financial system have information about the expected change in the level of financial stability by monitoring the variables which were examined and used in the analysis.

Theoretical approaches in assessment of the impact of the capital structure on performance efficiency of corporations

Aim. The work aimed to reveal the relationship between the structure of capital and the performance efficiency of corporations.Tasks. The work was performed to generalize and systematize approaches to determining the content of the capital structure of corporations; as well as substantiate the relationship between the structure of capital and the performance efficiency of corporations.Methods. The author, using general scientific methods (analysis, synthesis, generalization), studied the results of empirical studies aimed at assessing the relationship between the capital structure and the performance efficiency of corporations.Results. It was concluded that under conditions close to reality, decisions on the choice of sources of financing and the establishment of a proportion between them have a significant impact on the performance efficiency of corporations. The direction, strength, and form of relationship depend on the chosen approach to determining the content of the capital structure and the characteristics of efficiency used in the study.Conclusions. The process of formation and management of the capital structure is an integral part of the financial management system. The level of financial stability of the corporation depends on the competence extent the sources of financing are chosen and the capital structure is formed. By regulating the capital structure, management team has the opportunity to increase the financial efficiency of the corporation, including the profitability of operations and investment activity.

Improvement of Methodological Tools for Business Analysis of the Effective Company’s Performance

The subject of the paper is the improvement of methodological approaches to the formation of an objective assessment of the system of financial indicators that comprehensively reflect the achieved and projected level of development of economic entities. In these conditions, the issues of substantiating the perimeter and content of the information and analytical support system for the functions of operational and strategic business management are being updated. The purpose of the study is to develop methods of analysis and algorithms for calculating the most important characteristics of assessing the performance of economic entities for internal management and external stakeholders based on a complementary approach to the use of classical methods of forming a piece of information and analytical base by clarifying the values of the indicators used in financial and management reporting and supplementing the list of analytical indicators. To achieve the goal, the author has identified several tasks related to the critical analysis of the existing methodological apparatus for evaluating the performance of commercial organizations. Also, the author updated the content, and clarified the algorithms for calculating indicators to form reliable information and analytical base necessary for making managerial decisions by various subjects of business relations. The author analyzed the supplementing the system of analytical indicators for assessing and forecasting business performance in accordance with the doctrine of sustainable development; expansion of the model range of factor analysis to get a holistic view of the impact of external and internal drivers on the level of financial stability and profitability of business entities. To substantiate the scientific hypothesis, form methodological provisions within the scope of the research, generalize the empirical base and develop practical proposals, the research clarified and supplemented the algorithms for calculating several performance indicators traditionally used in analytical practice, as well as initial indicators of financial and management reporting, have been involved. The practical application of the proposed adjusted procedures for calculating indicators contributes to getting a reliable and aimed assessment of the quality of the management system of organizations in the real sector of the economy. Also, it promotes a reliable measurement of the influence of factors of the external and internal business environment on its effectiveness, the development of an optimal resource potential management policy in order to increase competitiveness, strengthen financial stability and increase investment attractiveness.

Financing of agricultural enterprises: analysis of long-term trends and structural changes

The article is devoted to the study of long-term trends in the financing of agricultural enterprises in Ukraine. It is argued that agriculture is one of the most important types of economic activity for the Ukrainian economy, as together with other related types of economic activity (processing industry, trade) form about half of GDP. In such conditions, an important task of ensuring the sustainable development of agriculture is the financing of agricultural enterprises while respecting the principles of sufficiency and financial stability. The application of a system of absolute and relative indicators for empirical assessment of financing of agricultural enterprises of Ukraine, as well as technologies of regression analysis, correlation analysis is proposed. It is established that the financial resources of agricultural enterprises of Ukraine in the study period (2009–2019) increased 7.2 times, which exceeds the growth rate of total financial resources of enterprises in the economy and by type of economic activity (transport, warehousing, postal and chickens). activities, industry, construction, wholesale and retail trade, financial and insurance activities, etc.). It is argued that the periodization of financing of agricultural enterprises of Ukraine in the long run on the basis of seven features (total financial resources, equity, long-term liabilities, current liabilities, level of financial stability, priorities by size of enterprises and priorities by type agricultural activity). The empirical assessment of financial support of agricultural enterprises of Ukraine allowed to distinguish three periods: 2010–2013 – toincrease in financial resources of agricultural enterprises of Ukraine with the predominance of equity, ensuring the financial stability of enterprises, violated payment discipline; 2014–2016 – toreduction of financial resources of agricultural enterprises under the condition of predominance of borrowed funds, partial loss of financial stability of enterprises during economic, currency and political instability; 2017–2019 – toincrease in financial resources of agricultural enterprises in the direction of restoring financial potential with the transition of importance to medium and small agricultural enterprises specializing in the cultivation of annual and biennial crops, livestock, ancillary activities in agriculture and post-harvest activities. Keywords: agriculture, financing of agricultural enterprises, financial resources, equity, loan capital, long-term trends.

THE DEVELOPMENT OF DIAGNOSTIC TOOLS FOR ASSESSING THE LEVEL OF FINANCIAL CORPORATIONS’ STABILITY BY CASCADE APPROACH

Abstract. The scientific article is devoted to the development of a methodology for assessing the financial stability of financial corporations using the technology of cascading approach to identify weak areas in their activities and prevent the development of threats to their stable operation. The root causes of their financial instability are selected as the object of financial corporations’ financial stability assessment, and a chain of causal relationships is considered that turn the preconditions into real threats to financial stability or even signs of the corporation’s financial fragility. At the same time, the source of prerequisites for the financial stability of financial corporations in the state and depth of imbalances, which are formed both in the internal and external environment of their operation. It is proved that the tools for assessing internal imbalances in the activities of financial corporations should not be limited to financial imbalances, as their root causes can be concentrated in the organizational, managerial, institutional, conceptual component, in the field of personnel, information, technical support. Therefore, the structuring of imbalances in the activities of financial corporations is proposed to be carried out according to the theory of economic potentials and to identify the following content areas: opportunities, resources, tools, and abilities, the interaction of which forms the potential of financial corporations to operate. A three-stage method for assessing the financial stability of financial corporations has been developed, using a cascading approach, which involves the consistent diagnosis of internal imbalances in the activities of financial corporations: 1) those that arise within each component (resources, means, and capabilities) and are the area of origin of internal threats to their financial stability; 2) imbalances that arise through inter-component interaction (resources-means; abilities-means; resources-abilities) and are the sphere of manifestations of imbalances; 3) those that arise through interaction with the external environment and maximally show the impact of their condition and depth on the level of financial stability. For each of these areas, a set of indicators has been developed and an algorithm for calculating the integrated index of financial stability of a financial corporation has been constructed. The scientific and methodological approach was tested on the example of systemically important banks of Ukraine during 2017—2020, each of which is currently in a continuum of financial stability, and for most banks, there is a growing trend of quantitative measurement of its level. In general, the paper reveals a comprehensive approach to assessing the financial stability of financial corporations, which allows you to systematize those key positions in which the imbalance increases the likelihood of their financial fragility and financial instability. Keywords: financial corporations, financial stability, internal imbalances, economic potential, valuation, indicators, nonlinear rationing. JEL Classіfіcatіon C13, C81, D53, G21, G23 Formulas: 7; fig.: 0; tabl.: 3; bibl.: 22.

State financing of companiesmetallurgical industry in conditions of volatility of world prices for non-ferrous metals

Currently, in the conditions of continuing sanctions pressure, as well as the consequences of the SARS-CoV-2019 pandemic, the metallurgical industry companies are facing acute issues of forming an effective structure of monetary capital and, in this regard, financial stability, since the provision of fixed and working capital that contribute to generating profits and increasing the value of the company as a whole will directly depend on the balance and cost of funding sources. The structure and cost of sources of financing of the monetary capital of companies in the non-ferrous metallurgy industry are directly influenced by the conjunctural factors of the industry, which determine the value of non-ferrous metals on the London Metal Exchange (LME) and on the Russian market. Due to the cyclical nature of economic development and the associated manifestations of crisis periods, there is a negative trend in terms of providing monetary capital with its own sources of financing against the background of the growth of borrowed capital and an unsatisfactory level of financial stability. In this regard, it seems appropriate to turn to the analysis of measures of state support for strategically important companies in the non-ferrous metallurgy industry in order to maintain domestic industry and maintain competitiveness in the Russian and world markets of non-ferrous metals. At the same time, public financing will contribute to leveling the manifestation of sectoral factors, the formation of an effective capital structure and the achievement of optimal financial stability.

CRITERIONAL APPROACHES TO THE FORMATION OF THE OPTIMAL STRUCTURE OF CAPITAL OF THE ENTERPRISE

The article substantiates the essence of the capital of the enterprise and its structuring. The expediency of using, in the development of management measures to optimize the structure of capital, the so-called target capital structure, which is the ratio of its elements, which allows to fully ensure the achievement of the selected criterion for its optimization. The author's scientifically substantiated methodical approach to optimization of the capital structure of the enterprise is offered, which provides obligatory consideration of the target direction of the ratio of capital by sources of formation and specific property to ensure the functioning of enterprises, while generating profit and increasing their financial stability. It is proved that in the formation of the optimal target capital structure of the enterprise it is advisable to use not one but two criteria of optimality - the level of return on equity and the level of financial stability of the enterprise.

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.

Управління фінансовою стійкістю банківської системи в контексті волатильності фінансового ринку

ms of a systematic approach and analysis of the financial stability of the banking system of Ukraine during 2018-2020, which allowed to draw conclusions about the impact of taking into account new factors of influence. A conceptual approach to improving the mechanism for managing the financial stability of the banking system in the context of financial market volatility, which is designed to ensure a sufficient level of financial stability of the banking system. Purpose. The aim of the article is to improve the conceptual approach to the mechanism of managing the financial stability of the banking system in the context of financial market volatility, which will prevent the development of long-term banking crises. Results. The article analyzes the state of financial stability of the banking system in terms of economic standards governing banks, indicators of financial stability and the index of financial stress. A conceptual approach to improving the mechanism of managing the financial stability of the banking system in the context of financial market volatility is proposed. Management will be improved in such areas as: creation of legislative and other conditions that would allow banking institutions to realize their economic interests; establishing economic standards and supervising their observance in order to ensure the liquidity of banking activities; use of more indicators of financial stability of the banking system. Conclusions. The application of this conceptual approach will allow on the basis of coordinated use of instruments to comprehensively affect financial stability avoiding, minimizing or compensating for possible threats in a dynamic financial environment. As the banking system will be able to respond quickly to financial threats and prevent negative phenomena that may lead to its financial failure stability.

ІНТЕГРАЛЬНЕ ОЦІНЮВАННЯ РІВНЯ ФІНАНСОВОЇ СТАБІЛЬНОСТІ БАНКІВ В СИСТЕМІ ЇХ ФІНАНСОВОГО ОЗДОРОВЛЕННЯ

Анотація. Присвячено розвиткові методичних підходів до оцінювання рівня фінансової стабільності банків у системі їхнього фінансового оздоровлення на основі використання інтегрального підходу. Обґрунтовано принципи здійснення оцінювання ефективності системи фінансового оздоровлення, а також доведено, що воно повинно здійснюватися на основі показників фінансової стійкості, ділової активності, показників ліквідності, ефективності управління, а також показників, негативне значення яких може призвести до неплатоспроможності банківської установи. Комплексність внутрішньої будови запропонованого інтегрального показника рівня фінансової стабільності банківської системи дозволяє виявляти слабкі зони у її функціонуванні та векторно спрямовувати дії регулятора задля своєчасного проведення відповідних санаційних заходів або налагодження ефективного управління в системі фінансового оздоровлення банків. Ключові слова: банківська система, фінансове оздоровлення, фінансова стабільність, інтегральний показник, індикатори фінансової стабільності. Формул: 8; рис.: 3; табл.: 6; бібл.: 9.

System of financial sustainability management of forestry enterprises of southern Ukraine

The article considers the possibility of more efficient use of forest resources of the steppe zone of Ukraine, including by improving the level of financial stability of forestry enterprises in the South of Ukraine. For this purpose, on the basis of well-known principles of process algorithmization, a conceptual model of formation of the financial stability management system of forestry enterprises of the South of Ukraine is proposed. The presented model is based on the economic, social and environmental components (subsystems) of forestry enterprises and in each of them the necessary directions (possible effects) for improving the financial condition of economic entities are identified. The main reasons of normative and organizational nature, which make it impossible to increase the economic potential of forestry enterprises in the South of Ukraine, are highlighted. The directions of cooperation of forestry enterprises with local self-government bodies are offered, in particular: conclusion of commercial agreements on reconstruction of existing and creation of new parks and squares, construction of sanatoriums, cultural and entertaining, development of water purification and water-preserving functions of forest plantations. The mechanism of realization of the system of management of financial stability of the forestry enterprises which is based on realization by the forestry enterprises of a complex of the corresponding organizational and technical and administrative actions is presented. which consists in the implementation of the relevant stages of the enterprise, in particular: capitalization of own assets, identification of sources of funding and diversification of activities. It is substantiated as one of the directions of diversification of forestry enterprises, creation of energy crops on forest lands that cannot be used for other needs, and production of pellets from them for further sale. In particular, based on the calculations, it is proved that the proposed direction of diversification of forest enterprises in the South of Ukraine will not only improve their financial condition, but also attract low-value lands that are unsuitable for growing forests and crops, eventually improving their structure and content.

Accounting and tax accounting — tools for optimizing the financial condition of private medical centers

The article reflects the peculiarities of accounting and tax accounting in domestic private medical centers, presents an analysis of their financial situation (using the example of five medical organizations in Bryansk), proposes ways to improve the financial position of commercial medical centers using a competent organization of the accounting and tax system. Accountants of these economic entities should strive to maximize net profit, increase current assets and reduce short-term liabilities, since the main financial problems of private medical centers are often the insufficient level of financial stability and solvency.