Hrybachova H. H., Bila . ., PhD in Economics Hudym . .

Oles Honchar Dnipropetrovsk National University (Ukraine)

Formation of financial and economic analysis system in the enterprise

 

Analysis of the company plays an important role in building effective models of management. For enterprises, which have leading economic activity, it is recommended to make financial analysis (or, results of financial and economic activity analysis) for diagnosis and crisis prevention and assessment of financial resources what can be used to create conditions for a more efficient operation.

Summarizing the results of the study of domestic and foreign scientists, the financial analysis system can be determined as a complex of diagnostic methods of the financial and economic activities of the entity [1, p. 15].

Relevance of the study of the topic is in the need to identify possible ways to create a system of analysis of financial and economic activities in connection with the adjustment to the enterprise of doing global business.

Highlighting of analysis of the financial and economic activities issues and the importance of its strategically role takes place in the works of following authors: Tatiana Kalna [1], Tatiana Bezborodova [2], Kateryna Suchkova [3], Olena Fedoruk [5], Irina Ivashkovskaya [4] and others.

Currently there are two methods of business analysis in the worlds practice: accounting based approach and corporate finance based approach.

Most of Ukrainian enterprises have used the first of the abovementioned approaches. It is based on an analysis of costs and revenues, reflected in conventional
pro-forma financial statements
.

Tatiana Bezborodova has noted local authors' works of identify the following ways to assess the financial condition using these methods: coefficient method, a comprehensive method, integrated method, and break-even equilibrium method [2, p. 17]. In practice of foreign experts, according to Kateryna Suchkova research, ratio analysis is mainly used in certain areas and a comparative and trend analysis which includes analysis of vertical and horizontal analysis ratios [3, p. 128].

The Corporate Finance method aims to determine the increasing of the firms value, rather than accounting profit growth, so this method has used the economic profit value for company analyzing [4].

But applying the Corporate Finance method hasnt enough spreading in Ukraine because there is necessity to create a special department of the company and to implement the specific systems of analysis what is available only in large companies. In addition, Ukraine has underdeveloped stock market which is an information source for making analysis by this method.

As the first approximation stages the strategy analysis of financial and economic activities as part of the financial strategy could be described as follows:

1. Targeting strategy of the analysis of financial and economic activity formation and choice of methods by which this analysis will be carried out.

These purposes may include: evaluation of financial and economic activity to determine the reserves to increase profitability of production and projections of future development of the enterprise and determination of the main factors what influence on the development of business [5, p. 202].

2. Preliminary analysis of financial condition of the company to specify the purpose of the strategy (analysis of current activities for further measures sanation, liquidation, etc.), Drawing up an action plan.

3. Formation of the special department (division) in the company or mandate carrying out analysis to specialists of operating functional units.

4. Implementation of the approved strategy.

5. Implementation of control over the execution [6, p. 138].

Detaily considered the question of financial and economic activity of the enterprise, it can be concluded that the creation of a system whose purpose will be conducting this analysis is strategically important for the effective functioning of the company. After all, this analysis allows to not only identify threats that could lead to a crisis, but also to predict the direction of mobilization of resources for development and increasing competitiveness of products in the market; also through comparative analysis, we can identify the factors that should be improved in the future to capture a larger market segment.

In addition, the analysis of financial-economic activity makes it possible to predict its further development and thus adjust the production program. These measures will increase the effectiveness of economic activity.

 

:

1. . . : / . . // : . . / . : - , 2014. . 15. 2. . 1318.

2. . . / . . // . . . 2014. 1 (11). . 1118.

3. . . / . . // : . . , 2013. 17 (157). . 127129.

4.  .  : / . . .  . : , 2012. 154 c.

5. . . Գ / . . , . . // . 2012. 1. . 3. . 201206.

6. . . Գ / . .  // ᒺ . 2012. 2 (34). . 134139.