Управління поточними фінансовими потребами машинобудівних підприємств
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Файли
Дата
2017-06
Назва журналу
Номер ISSN
Назва тому
Видавець
Вищий навчальний заклад «Університет імені Альфреда Нобеля»
Анотація
Pestovska Z.S. Management of current financial needs of machinery enterprises. – Manuscript. Dissertation for the degree of candidate of economic sciences in specialty 08.00.04 – economics and management of enterprises. – Higher educational institution «Alfred Nobel University», Dnipro, 2017. The thesis is a theoretical grounding and solving of practical problems of improving the management of current financial needs of machinery enterprises. Scientific approaches to the definition of current financial needs and their management are generalized. This is the base for further development of categorical apparatus in term of the definition of "enterprise current financial needs management", regarded as blocked process of minimizing of the amount of financial resources associated with accumulating of inventories and accounts receivable reduced by accounts payable. This process is carried out with appropriate organizational structure and resources, with suitable financial instruments and methods. This makes possible to provide a continuous activity of machinery enterprise if it supports sufficient level liquidity and profitability. The conceptual schema of current financial needs management is created on the basis of combining of process, situational and systemic approach to management. Some elements are added to the schema on different stages: at the stage of evaluation – conformity of basic strategy with dynamics of current financial needs; at the planning stage – bringing the level of current financial needs to a negative value provided harmonize them with liquidity and profitability; at the stage of organization – construction of the algorithm of current financial needs management; at the stage of analysis – taking into account the impact of external and internal factors on the dynamics of the current financial needs and determination of system of evaluating the
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effectiveness of this management. The proposed scheme can provide facilities of management for each block and stage, that is the basis for management decisions on the coordination of corrective actions. Scientific and theoretical approaches to election of enterprise policy of current financial needs management are developed. This policy is defined as purposeful activities related to the adoption of appropriate decisions about supporting the current financial needs’ optimum level and, unlike the existing, takes into account defined by the matrices the relationship between accounts payable, inventory and accounts receivable; type of strategy and enterprise behaviour. This makes possible to choose a engineering enterprise to support optimal level of current financial needs on the basis of liquidity and profitability. The features of machinery enterprises’ financial cycle and their impact on current financial needs are explored, therefore there was developed the classification of external and internal factors affecting the level of current financial needs identified by the peculiarities of the financial cycle of machinery enterprise, which differ with criteria for groups of factors. In particular, external factors include general economic, legal, fiscal-budgetary, inter-firm and monetary; internal factors include organizational, production, marketing and financial ones; each group consists of quantitative and qualitative factors. It allows by separation of most important parameters of each group to determine the causes and consequences of current financial needs deviation from the optimum level, tu determe the management policy of current financial needs for the future and adjust tactical measures for the current period. The estimation of machinery enterprises’ current financial needs and was conducted; there were developed theoretical principles for improving of machinery enterprises’ liquidity system, which includes financial liquidity ratio based, unlike existing ones, on a comparison of the elements of current assets and current liabilities, which are also elements of the current financial needs, and is used as an additional tool to control the financial needs of the enterprise. Using the correction coefficient calculated by the degree of liquidity for each item of current assets and current liabilities, allows at the stage of control to keep elements of current financial needs in
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accordance to recommended values of liquidity ratios and to determine the portion of current liabilities, which the company can compensate through realization of inventories and collection of receivables. Methodical approach to determining the optimal level of current financial needs are improved by solving the optimization problem that takes into account the limits on the volume of sales, inventory residue limits and limits on the creation of accounts receivable and accounts payable, which enables to prevent loss of funds in stocks and receivables.
Methodical approach to evaluating the effectiveness of machinery enterprises’ current financial needs management is improved, and, unlike the existing ones, is based on the determination of additive indicator used for ranking machinery enterprises. This additive indicator is calculated on four groups of indicators (time and monetary indicators of current financial needs, improved liquidity ratios, current financial needs ratio, enterprise profitability) and take into account their recommended value/ This additive indicator allows to determine the position of the enterprise and to develop measures for its improvement, preservation or preventing the transition to a lower status position. Thus, certain provisions of dissertation research were brought to the level of specific techniques and suggestions for improving the management of the current financial needs of machinery enterprises, improving of optimization parameters of calculation and planning of current financial needs of enterprise.
Опис
Ключові слова
Управління поточними фінансовими потребами машинобудівних підприємств, дебіторська заборгованість, кредиторська заборгованість, запаси, ліквідність підприємства, рейтингування, ранжування, концептуальна схема, оптимізаційна модель
Бібліографічний опис
Пестовська З.С. Управління поточними фінансовими потребами машинобудівних підприємств. Дисертація на здобуття наукового ступеня кандидата економічних наук за спеціальністю 08.00.04 – «економіка та управління підприємствами (за видами економічної діяльності». – Вищий навчальний заклад «Університет імені Альфреда Нобеля», Вищий навчальний заклад «Університет імені Альфреда Нобеля», Дніпро, 2017. – 249 с.