Net Financial Result Research Articles

ECONOMIC AND FINANCIAL SITUATION OF THE FOOD INDUSTRY IN POLAND IN THE YEARS 2019-2023

The aim of the article is to assess the economic and financial situation of the food industry and its main industries in Poland in 2023 compared to 2019. The analysis used the method of synthetic assessment of the financial result developed by Bednarski. A comparative assessment of the dynamics of quantitative and qualitative indicators determining changes in the value of individual production factors and the efficiency of their use was carried out, both for the entire food industry and its main industries. The research was further enhanced by a cause-and-effect analysis of the financial result, which determined the level of influence of individual production factors on the growth of revenues and profit. The study used published and unpublished data from the Central Statistical Office. The synthetic assessment of the financial result of the food industry shows that despite the fact that entities in the audited period faced many challenges, m.in. related to price pressure, their economic and financial situation in 2023 was better than in 2019. In-depth research has shown that the development of the sector took place mainly through the increase in the technical equipment of labor and the improvement of the economic efficiency of the human factor involved in economic activity. Such a situation occurred in most industries (in 13 out of 18 respondents), and only in a few did not improve the net financial result. In the coming years, companies will have to face challenges related to, m.in others, high costs of raw materials and labor, but also the energy transition, which is why achieving sufficiently high processing margins is a priority for enterprises.

The Influence of the Net Financial Result of the Activities of the State Enterprises of Ukraine on the Efficiency of the Use of their Capital in the Corporate Management System

The Influence of the Net Financial Result of the Activities of the State Enterprises of Ukraine on the Efficiency of the Use of their Capital in the Corporate Management System

ANALYSIS OF THE EFFECTIVENESS OF THE FORMATION AND DISTRIBUTION OF FINANCIAL RESULTS OF BUSINESS ENTITIES ENGAGED IN POULTRY FARMING

The study of the effectiveness of the formation and distribution of financial results of entities engaged in poultry farming is a significant aspect of agricultural economics. It pertains to the efficiency of profit allocation and financial resource management in poultry farming businesses, an industry of paramount importance globally. In modern conditions, one of the growth points of the activities of any business entities specializing in poultry farming, such as business entities operating in all forms of ownership, is the main activity, which is primarily based on systematic planning of activities and strategic development courses based on the complex of all factors affecting it. is to determine. In particular, Economist V.A. Golovina emphasizes that in the effective planning of the financial results of business entities specializing in poultry farming and the assessment of the achievement of results according to the plans indicators, the factor analysis system based on the gross profit, which is the net financial result of the main activity, and the factors affecting central importance.Economist Yu.G. And Onoprienko, in the general context, is in a general consensus position regarding the opinions of the above economist, and in addition, he gave his opinion on the need to take into account all the factors affecting the gross profit in order to assess the level of impact of the main activity on the Net profit.

Economic assessment of industrial development of the oil and gas region by return on assets of organizations and profitability of products

On the basis of the analysis and modelling of the return on assets of regional organizations and the profitability of the goods, products, works and services sold by them the author of the article has developed a new methodological approach to interregional industrial interaction of oil and gas regions. The predominating production factors of oil and gas regions including the volume of the shipped own products, works and services completed on their own, and indexes of industrial production by the type of economic activity (“Mining” and “Manufacturing”) are chosen as the relevant parameters of the study. The structure of the volume of the shipped products (works, services) by type of economic activity “Mining” is represented by coal mining, oil and natural gas extraction, metal ore extraction, mining of other minerals and by providing corresponding services. As for the shipped goods and products, as well as works and services within the “Manufacturing” segment, the author chose coke and petroleum products; rubber and plastic products, chemicals and products, medicines and materials, other non-metallic mineral products, machinery and equipment, vehicles. A comprehensive clustering of oil and gas regions has been carried out according to the profitability of the assets of organizations, as well as the profitability of products, goods, works and services of the types of economic activity “Mining” and “Manufacturing”. As a result, the variants of industrial interregional integration formed may serve as the solution of the problem of low return on assets (and even negative in the case of the Orenburg region and the Samara region) due to the synergistic effects of reducing capital intensity and increasing the net financial result of the manufacturing organizations. It has been stated that the main direction for improving state programs in the management of innovative industrial development of oil and gas regions is indicative stimulation of return on assets of the manufacturing organizations.

ОЦІНКА СТАНУ БІЗНЕС-СЕРЕДОВИЩА УКРАЇНИ У КОНТЕКСТІ ІННОВАЦІЙНОЇ ДІЯЛЬНОСТІ

In this study, an analysis of the development prospects of innovatively active enterprises was carried out using the example of the most successful functioning Ukrainian enterprises. It is proposed to estimate the actual annual profit of the business using the indicator of economic added value, which is correlated with the indicators of the efficiency of innovative activity. The evaluation of the actual annual profit of the business using the indicator of economic added value (economic profit) is argued, since the accounting profit is not a qualitative characteristic of innovative development. An assessment of the profitability of the leading innovatively active enterprises was carried out – SE «Prozorro», LLC «Nova Poshta», JSC «Farmak», LLC «Scientific and technical complex «Metalurh», SE «Southern State Design and Research Institute of the Aviation Industry», PJSC «Interpipe». For the overall assessment of efficiency, the weighted average cost of capital, the indicator of economic added value, the return on capital of each of the analyzed enterprises, gross profit and net financial result were calculated. At the same time, it is noted that the cost of equity capital reflects the riskiness of investing in the company's equity capital, while the cost of debt capital is the risk of default by the company and tax benefits associated with the use of borrowed funds. An important remark in the context of this study is the assessment of innovative development, more specifically, the innovative activity of enterprises – in a relatively stable economic time that preceded the war in Ukraine. Because it is clear that a return to the previous indicators and surpassing them is possible only in a relatively stable economic environment. It remains obvious that the increase in the added value of products can be achieved by reducing the volume of intermediate consumption, with the help of improving integration processes, in the creation of chains of added value of products, renewal of production assets, scalability of enterprises, increasing the level of technical and technological equipment of Ukrainian enterprises. Proposals have been made regarding the general system of assessing the business value of innovatively active enterprises of Ukraine. This study is designed to outline the main prospects for the development of innovatively active enterprises of Ukraine.

Russian Companies and Indicators of Their Role in Achieving the Global Sustainable Development Goals

The activities of Russian sustainable development companies included in the base for calculating the index of the Moscow Exchange-RSPP Vector of Sustainable Development is the subject of the article. The purpose of the article was to assess the role and importance of Russian companies in regional sustainable development, their financial performance, which have a significant impact on the formation of profits / losses of economic sectors and are a source of financing for large social and environmental projects in the territories of presence, as well as a comparative analysis of the bases for calculating indicators development of sectors of the economy: sectoral indices of shares of Russian companies and the index Vector of Sustainable Development of the Moscow Exchange. In the article, based on the analysis and grouping of information from the reports of Russian companies with different territorial and industry affiliations, their experience in the field of sustainable development is summarized. Companies are categorized by sectors of the economy and the level of contribution to the achievement of the UN sustainable development goals. The dynamics and structure of absolute and relative indicators that determine the net financial result of companies - the source of their large-scale participation in projects of regional and sectoral sustainable development are analyzed.

Selection of regional determinants of economic security

Subject. The article addresses the selection of informative and significant regional determinants of economic security. Objectives. The aim is to explore statistical and econometric tools to select regional determinants, to build economic security classifiers, using the machine learning algorithms. Methods. The determinants are selected, using the filter-based methods (on the basis of Chi-square, F-criterion, information content criterion), sequential and recursive selection in the opposite direction, exhaustive sampling and selection based on the "random forest" classifier. The above algorithms are implemented in the Scikit-learn and MLxtend libraries. The analytical environment Jupyter Notebook is used as a system providing the execution of feature selection algorithms. Results. I formed a training sample of 90% of the total set of regional economic determinants for 82 Russian regions. The determinants were ranked by significance. Logistic loss and model accuracy were set as a model evaluation criterion. The accuracy of created classifiers was between 78% and 93%. The paper establishes the significance of categorical variables that determine whether a particular region belongs to the resource, investment, or regional profitability cluster. The constructed heat map enabled to establish the degree of linear relationship between the level of economic security of the region and regional determinants. Conclusions. The most significant group of panel indicators to determine the class of economic security is the resource security of regions. The level of resource endowment depends on the volume of consumption and the share of manufactured goods in the GRP. To build a model to classify regions by the economic security level, five features are sufficient; this circumstance was established by automatic set of determinants, using the recursive feature elimination algorithm with cross-validation (RFECV). The implemented wrapping methods of feature selection demonstrated that significant indicators in the model are budget expenditures and the amount of debt per capita, investment risk and net financial result. The best quality of the classifier is provided in the course of an exhaustive set of features, using the K-Nearest Neighbors algorithm.

Optimisation of supplemental light systems in Norwegian tomato greenhouses - A simulation study

Tomato greenhouses at high latitudes (≥58°North) require supplemental light to enable high yields and year-round production. Supplemental light systems can differ in lamp type, high-pressure sodium (HPS) or light emitting diode (LED), and also vary in lamp capacity. Based on a combined greenhouse climate, tomato yield, and greenhouse economics model, a methodology was developed, for determining the optimal supplemental light system, dependent on local climate and economic conditions. Two optimisation objectives were considered separately, maximal energy use efficiency (EUE) and maximal net financial result (NFR). The developed methodology was applied to four different greenhouse locations in Norway. At each location, both optimisation objectives were reached with LEDs. The optimal lamp capacities range from 256 to 341 μmol m −2 s −1 (maximal EUE) and 302–323 μmol m −2 s −1 (maximal NFR). The economically optimal lamp capacity is little sensitive to climate conditions. At the lamp type respective NFR maxima, LEDs resulted, on average, in 10% higher tomato yield, 102.2 NOK m −2 year −1 higher NFR, and 35% higher EUE. Consequently, switching from HPS lamps to LEDs enables increasing productivity, energy efficiency and profitability of greenhouse tomato production. Furthermore, the difference between EUE and NFR optima was, on average, 24% lower in terms of EUE and 56% lower in terms of NFR, when using LEDs instead of HPS lamps. On farm-scale, the proposed methodology can be used as decision-support-tool for selecting an efficient and profitable supplemental light system for greenhouse tomato production, dependent on local climate and economic conditions. • A model-based methodology for optimising greenhouse lamp type and capacity is presented. • The methodology was applied to four greenhouse locations in Norway. • LEDs with capacities between 256 and 341 μmol m −2 s −1 reached maximal energy use efficiency. • LEDs with capacities between 302 and 323 μmol m −2 s −1 reached maximal net financial results. • Economically optimal lamp capacity is little sensitive to climate conditions.

ДОСЛІДЖЕННЯ СУЧАСНИХ ТЕНДЕНЦІЙ ФІНАНСОВИХ РЕЗУЛЬТАТІВ ПІДПРИЄМСТВ УКРАЇНИ ЗА ВИДАМИ ЕКОНОМІЧНОЇ ДІЯЛЬНОСТІ

Effective business is the foundation of every country's economy. One of the most important tasks of enterprises in modern market conditions is to obtain positive financial results (profits), as the value of this indicator is an indicator of the effectiveness of business models and value formation processes. Making a profit provides financial opportunities for business development, contributes to the creation of new jobs, improving the quality of goods and services, increasing the competitiveness of products in national and international markets. Therefore, the formation of a positive financial result is important not only for business owners but also for other participants in market relations. The article examines the dynamics of the net financial result (balance) of Ukrainian enterprises, both in terms of total and by individual types of economic activity during 2010-2021, identified activities with the highest and lowest volumes of net profit, found that during 2013 -2019, domestic enterprises of industry, wholesale and retail trade, transport, warehousing, postal and courier activities developed steadily and increased their profits, the main causes and consequences of the results were revealed. In order to more objectively assess the financial results of enterprises and reduce the impact of inflation, analyzed the value of operating profitability by type of economic activity, assessed the dynamics and identified activities with the highest level of profitability, identified the composition of Ukrainian industries characterized by chronic losses. The study found that the profitability of national enterprises is characterized by dynamism and sensitivity to many factors, including the political and economic crisis of 2014-2015, the annexation by the Russian Federation of the Autonomous Republic of Crimea, the war in Donbass, low purchasing power, relative monetary instability units, rather unfavorable investment climate, etc., special attention is focused on analyzing the impact of the Covid-19 pandemic on the economy of Ukraine through the prism of enterprise profitability. It is established that during 2020, due to the negative impact of quarantine restrictions caused by the pandemic, Ukrainian enterprises received twice less than the total profit compared to the previous 2019. However, in the first half of 2021, net profits increased significantly and amounted to UAH 384,920 million, which is 21% more than in the whole of 2020. That is, Ukrainian enterprises began to adapt to new operating conditions and it was possible to predict the further development and improvement of their performance. However, the Russian aggression in February 2022 and hostilities led to the leveling of positive trends in the dynamics of financial performance of enterprises in our country.

ПРОГНОЗУВАННЯ ПРИБУТКУ ПІДПРИЄМСТВА З ВИКОРИСТАННЯМ MS EXCEL

The article is devoted to the question of forecasting the success and profitability of enterprises. The autonomy carried out an analysis of the results of the enterprises. We believe that we have a forecast for net arrangements, but they have identified realworld enterprises, weighted operating results, net results of other manufacturing enterprises, and the profitability of enterprises for unchanged functions that exist, and may believe that to consider it a profitable industry, and from different management companies do not require any changes. The article forecasts the profit and profitability of the company. The author draws conclusions from the results of the analysis of the financial results of the enterprise activity and the results of forecasting the profit and profitability of the enterprise. The results of forecasting net income from sales of products and cost of sales show a tendency to increase these indicators. The results of forecasting gross profit and net financial result of the enterprise activity also showed an upward trend. However, the company's net profit will grow at a modest pace. In the unchanged conditions of functioning of the enterprise, if on the one hand there are no changes in external circumstances that may affect the profitability of the enterprise, and on the other hand, the management of the enterprise will not introduce any changes, then during the period only the indicators of return on equity (due to the lack of company equity) and all other profitability indicators will be positive. On the whole, over the forecast, the trend of growth of the enterprise will remain in the dynamics of the profitability indicators of the enterprise under constant conditions of functioning of the enterprise. However, given the volatile development of the Ukrainian economy, the constant changes in legislation, etc., it is not necessary to use such a straight-line method in the long run. On the whole, over the forecast, the trend of growth will remain in the dynamics of the enterprise's indicators in the unchanged conditions of the enterprise's functioning. However, given the volatile development of the Ukrainian economy, the constant changes in legislation, etc., it is not necessary to use such a straight-line method in the long run.

Correlation-regression analysis of factors affecting inventories of production enterprise

The article highlights the feasibility of correlation-regression analysis and inventory modeling at a manufacturing enterprise using applications. Inventory modeling will help to optimize them and further increase the profitability of the enterprise. The use of applications will speed up and simplify the modeling process and strengthen the analytical component. Among the modern variety of applications for statistical and econometric analysis, it is important to choose an effective software product, simple and easy to use, which does not require significant costs. It is offered to use a free, but no less high-quality R-Studio product, which is easy to use and fast to calculate. On the example of application of the free application program R-Studio the correlation-regression analysis is carried out and the regression model of stocks at the production enterprise of PJSC "Novokramatorsk Machine-Building Plant" is constructed. The influence of internal factors on the company's stocks, such as: net income from sales of products (goods, works, services), net financial result: profit, accounts payable for goods (works, services) and external: GDP and the dollar. According to the simulation results, the greatest influence among internal factors has the net income from sales of products (goods, works, services). Among external factors, GDP is the most influential. The constructed model is adequate, as evidenced by a significant indicator of the Fisher criterion and the coefficient of determination. 90% of the stocks of the studied enterprise depend on the selected factors. The construction of a matrix of correlation coefficients and correlation analysis confirmed the close relationship between the selected factors and their impact on stocks as a result. The example of PJSC "Novokramatorsk Machine-Building Plant" demonstrates the practical usefulness of inventory modeling using computer programs.

Methodical approaches to optimizing the insurance company portfolio of services

The article is devoted to the generalization of methodological approaches to the optimization of the insurance company portfolio of services and the development of an algorithm for optimizing the insurance company's services portfolio. Insurance market of Ukraine is in a state of transformation, which is associated with changes in the institutional conditions of insurance, changes in the priorities of policyholders, macroeconomic instability, the spread of the COVID-19 pandemic. Institutional changes in the insurance market of Ukraine and macroeconomic instability have led to the "cleansing" of the insurance market and the exit of insurance companies that do not ensure transparency, solvency and efficiency. In the three quarters of 2021, 41 insurance companies left the Ukrainian insurance market, ie one in five insurance companies ceased operations. The relevance of optimizing the insurance company's portfolio of services is proved, which is due to the need for insurance companies to review their own portfolios to ensure financial stability, solvency and efficiency in a competitive insurance market of Ukraine. It is proposed to consider the optimization of the insurance company's portfolio of services as a set of interconnected and consecutive stages that are consistent and logical, as well as adaptive to modern realities of the insurance market of Ukraine, aimed at achieving profitability and maximizing the value of the insurance company. The first five stages of optimizing the insurance company's portfolio should be considered the most important, as it provides for determining the methodological principles of optimizing the insurance portfolio. Substantiation of the type of insurance company's portfolio and justification of the list of criteria for optimizing the insurance company's portfolio are interrelated stages that determine the individual basic parameters of the optimized portfolio for the insurance company depending on the chosen type of portfolio. Calculations for the optimization of the insurance company's portfolio of services involve the implementation of economic and mathematical modeling of the structure of the insurance services portfolio and the definition of its targets. Following a certain period of time, the insurance company must assess the effectiveness of achieving the optimal portfolio of services of the insurance company and the impact on key performance indicators of the insurance company, including net financial result and value of the insurance company, the presence of deviations of actual and optimal indicators. Keywords: insurance, insurance company, insurance company portfolio, optimization, Markovic model, insurance market of Ukraine.

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.

Ефективність господарського механізму взаємодії учасників молочного ринку та функціонування молокопереробних підприємств

The purpose of the article is to carry out the complex analysis of efficiency of the economic mechanism of mutual relations between participants of the dairy market and indicators of functioning of the dairy processing enterprises with the substantiation of the directions of further increase. Research methods. In the process of research a number of methods were used: abstract-logical - to formulate conclusions; comparative analysis - to compare indicators of efficiency of milk processing enterprises and identify trends in their change; tabular - for a visual representation of the results of the study; coordinate matrix - in determining the total integrated indicator of the efficiency of the economic mechanism of dairy enterprises; settlement and constructive - to calculate indicators of economic efficiency, liquidity and solvency, financial stability and business activity of enterprises; monographic - when detailing current trends in the functioning of dairy enterprises; factor analysis - to determine the factors influencing the net financial result of enterprises. Research results. The modern transformation processes taking place in the market of milk and dairy products of Ukraine are studied, the scale of reduction of the general demand and supply is established. The current state of the raw material base of milk processing enterprises of Ukraine is studied (dynamics of milk purchase prices, quality monitoring, retrospective of milk purchases by dairies). The efficiency of the economic mechanism of functioning of milk processing enterprises of the group of companies "Dairy Alliance" was monitored. The elemental structuring of the analysis of efficiency of the economic mechanism of functioning of the milk processing enterprises is offered and tested. The total integrated indicator of the efficiency of the economic mechanism of milk processing enterprises is calculated on the basis of structuring the set of priority indicators of economic efficiency, liquidity and solvency, financial stability and business activity. The main directions of increasing the efficiency of milk processing enterprises are proposed. Scientific novelty. Methodological and practical aspects of a comprehensive study of the effectiveness of the economic mechanism of functioning of dairy processing enterprises of Ukraine and substantiation of directions for its improvement have been further developed. Practical significance. These approaches and the results of the study can be used by public and sectoral authorities in the organization of monitoring and development of priority measures to improve the efficiency of domestic dairy industry. Tabl.: 3. Figs.: 1. Refs.: 21.

Financial and Non-Financial Reporting – an Attempt to Correlation Between Selected Chosen Variables

This paper describes a study designed to find correlations between intellectual capital efficiency, measured using the Value AddedIntellectual Coefficient (VAIC), and selected components of reports submitted by KGHM Polska Miedź S.A., a Polish mining company.The study examined such components as the company’s intangible assets, number of jobs/FTEs (Full-time equivalent) andthe net financial result. The timeframe explored here is the period between 2004 and 2018 (the last 14 years). We assumed thatintellectual capital efficiency should be correlated with intangible assets, which are part of fixed assets, but the results of our studyproved otherwise. Our analysis demonstrated that intellectual capital efficiency was correlated the strongest with the company’sfinancial performance.

Оцінка діяльності філій транснаціональних корпорацій в Україні (на прикладі ТОВ «Самсунг Електронікс Україна Компані»)

The article is aimed at studying the activities of branches of foreign corporations on the territory of Ukraine on the example of Samsung Electronics Ukraine Company LLC and determining the prospects for its further development in the domestic market. During the study, the essence and main characteristics of transnational corporations (TNCs) and the process of transnationalization are considered. The approaches of various authors, scientists and scholars to the interpretation of the concept of «transnational corporation» are examined. The special features of TNCs that distinguish them from ordinary companies are specified. The history of creation and development of the well-known technology corporation Samsung Electronics Co. Ltd. is studied. In the course of the study the rating of the most profitable companies in the world according to the «net revenue» indicator was analyzed and the place of Samsung Electronics Corporation therein was specified. The Samsung Electronics’ place in the global market of electronics, technology and telecommunications is determined. The rating of the leading most popular brands of mobile phones in both the world and the domestic markets is considered and the position of the Samsung brand in the rating is identified. Thus, the company’s competitors in Ukraine and the world are defined. The scale of activity of Samsung Electronics Corporation branch in Ukraine is analyzed. The dynamics of indicators of «net income» and «cost of sold products (goods, works, services)» of Samsung Electronics Ukraine Company over recent years are analyzed. The dynamics of changes in the indicators of «gross profit» and «net financial result (profit)» of the company over recent years is researched. Through the analysis of the dynamics of financial results, a comprehensive assessment of the activities of Samsung Electronics Ukraine Company LLC is provided. The problems of functioning of branches of foreign corporations on the territory of Ukraine are disclosed and prospects of development of their branches are determined (example of Samsung Electronics Ukraine Company LLC). The conclusions are drawn on the importance of the branch of the foreign corporation Samsung Electronics Co. Ltd for the Ukrainian market of technology, electronics and telecommunications in particular and the national economy in general.

УДОСКОНАЛЕННЯ ПРОЦЕДУРИ АНАЛІЗУ ТА АУДИТУ ФІНАНСОВИХ РЕЗУЛЬТАТІВ ПІДПРИЄМСТВ В УМОВАХ ГЛОБАЛЬНИХ ВИКЛИКІВ

Modern global challenges related to social and behavioral constraints, accelerating the process of digitalization of interaction between different actors, cause changes in forms and methods of enterprise management, require new approaches to determining the place and role of accounting, analysis and control in enterprise information system. Given the significant decline in entrepreneurial activity during the COVID-19 pandemic, the problems of analyzing the economic entities financial results and the impact of global challenges are becoming relevant and require research to save costs and strengthen revenue control. The research purpose is justification the theoretical provisions and development practical recommendations for improving the methodology and organization of accounting, analysis and audit of enterprises financial results in today's global challenges. The study used methods of observation, comparison, analysis, generalization and formalization, forecasting. The article identifies the main problems of forestry and key indicators of their solution. The main problems are high level of corruption and illegal activities in forests and the necessity to ensure the balance between environmental, economic and social functions of forestry. The procedure of financial results accounting at a forestry enterprise and the algorithm for generating net financial result is considered. The main stages of the enterprise financial results audit are described. The Plan and the Program of audit of forestry enterprise financial results are offered. The expediency of using the electronic timber accounting system at forestry enterprises, in particular at the State Enterprise "Sveske Forestry", which in the current global challenges related to global environmental degradation and social and behavioral constraints in connection with the pandemic, will in the shortest possible time to install all the information about the wood, as well as quickly and in real time to see the remains of products by species and range, etc. The conclusions and suggestions obtained from the research can be used in the practice of forestry enterprises.

ФАКТОРНИЙ АНАЛІЗ ФІНАНСОВИХ РЕЗУЛЬТАТІВ ТОВ «КОЗЯТИНСЬКИЙ М’ЯСОКОМБІНАТ»: РОЛЬ У ВИЗНАЧЕННІ ФІНАНСОВОЇ СТРАТЕГІЇ

The article discusses factor analysis of a financial condition of the enterprise is carried out and the general estimation of efficiency of its economic and economic activity is carried out. A general assessment of the efficiency of economic and economic “Kozyatyn Meat Factory” was made, namely the dynamics of profit, cost, net income and net financial result for the period 2017-2019 were monitored. An analysis of changes in return on assets, equity and fixed capital, current liquidity ratios, solvency, financial debt and independence of the enterprise is also presented. The analysis made it possible to conclude on the current financial condition of the enterprise, as well as to determine the main factors that will determine the further strategy of its development. Also in addition, it is established that the definition of the financial strategy of the enterprise can be based only on the analysis of its economic activity, in particular a system of indicators that will establish the current situation of the main financial indicators of “Kozyatyn Meat Plant”, their dynamics for a certain period. In connection with the specifics of the enterprise, we believe that the main indicators that determine the further financial strategy of its development are indicators of the company's profit, as well as indicators of its sales within the industry and market. To this end, a factor analysis of the company's profit from the main factors of sales of its products; analysis of indicators of efficiency of use of fixed assets; analyze the dynamics of production of marketable products of the enterprise within the industry. According to the results of the analysis, it is established that today the company uses a financial strategy that can ensure the adaptation of the enterprise to environmental conditions, reduces the risks of work - that is, the stabilization strategy. In this regard, the next step for the company is to focus its efforts on expanding its market position, is a promising area to choose a financial development strategy that will increase the efficiency of the company - its financial results.

THE EFFECT OF DEFERRED INCOME TAX ON A COMPANY’S FINANCIAL RESULTS

The purpose of the article is to present the principles of deferred income tax and to show its impact on a company’s financial result. The article contains a comprehensive, synthetic theoretical approach to the issue of deferred income tax and is enriched with examples of calculations, which means that in addition to the theoretical layer, it brings additional practical value. The essence of deferred income tax, the stages of its determination, and the significance of temporary differences as a basis for calculations, are presented. To implement the research problem, the authors used an example simulation in which the impact of deferred income tax on a company’s financial results was presented. The conducted research showed that deferred income tax might have a positive or negative effect on the net financial result of a given entity, depending on whether the enterprise identifies more temporary negative or positive differences.

SYSTEM OF ACCOUNTING AND ANALYTICAL SUPPORT OF PROFIT MANAGEMENT OF BUSINESS ENTITIES OF THE AGRARIAN SECTOR

Introduction. Profit management in modern companies is one of the main areas of management. It is focused on solving one of the most difficult tasks of management – maximizing the size of the company's net financial result. The process of profit management is inextricably linked with the preparation and submission of financial statements, analytical materials, control and monitoring data. Without this information, management decisions are impossible. The formation of a comprehensive system of accounting and analytical support for profit management is a primary condition for the implementation of management tasks for the formation, distribution and use of net financial results. Purpose. The purpose of the article is to substantiate the composition of the system elements of accounting and analytical support for profit management of business entities of the agricultural sector, taking into account the existing problematic aspects in domestic practice and the use of foreign experience of profit management information. Methods used. The set of universal and specific research methods have been used in the article: methods of theoretical generalizations (analysis, synthesis, abstract-logical method), economic-statistical methods, method of comparison. Results. The system elements composition of accounting and analytical support for the profits management of agricultural businesses is grounded in the article. The assessment of the current level of enterprises profitability in the domestic agricultural sector of the economy has been conducted. The spectrum of the main problem aspects of the existing accounting and analytical system of profit management support at modern agricultural formations is defined. Some shortcomings of the financial statements of agricultural enterprises were found, prepared according to national standards in comparison with foreign practice. Keywords: accounting and analytical support, profit management, profitability, agricultural management, financial reporting, agribusiness entities.