Financial security management of enterprises in modern conditions

• Authors: Inna Berzhanir

Abstracts

EN

The financial security of economic entities is part of the financial security of the state since the enterprise creates added value, which forms a gross domestic product at the state level. In addition, businesses are the main taxpayers that affect the formation of state and local budget revenues. Therefore, a high level of financial security of an enterprise provides the state opportunities to perform its functions, ensures economic development, and improves social standards. In the context of economic and political instability, in addition to the variability of micro- and macro-environment factors that affect the activity of the enterprise, the assessment of financial security is a particularly pressing issue. The aim of the article is to develop a mechanism for managing the financial security of enterprises in accordance with the actual conditions of business conducted by Ukrainian enterprises. The management mechanism is considered as a certain system, which consists of a certain set of interrelated elements and involves taking actions to achieve financial interests by the timely reduction of financial risks and counteracting external as well as internal threats. In each enterprise, an urgent task is to develop an effective strategy for the development of financial security, which is characterized by the close relationship and interdependence of its individual components. In these conditions, in order to increase the level of financial security of enterprises, the following measures are proposed: reducing the amount of receivables, controlling short-term debt, limiting the need for financial sources, reassessing fixed assets, increasing production volumes and product sales, reducing costs and others.

Keywords

EN

equity; financial security; financial stability; liquidity; working capital

• Publisher: Politechnika Częstochowska
• Journal: Zeszyty Naukowe Politechniki Częstochowskiej. Zarządzanie
• Year: 2023
• Volume: 1
• Issue: 50
• Pages: 20-30

Dates

published

2023

Contributors

author

Inna Berzhanir

• Pavlo Tychyna Uman State Pedagogical University, Department of Finance, Accounting and Economic Security

References

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• Khymych, I., Vynnyk, T., Konstantiuk, N., Tymoshyk, N., & Yuryk, N. (2021). Finansova bezpeka pidpryiemstva yak metod antykryzovoho upravlinnia Enterprise [Financial Security as an Anti-Crisis Management Method]. Modern Economics, 25(2021), 153-159 (in Ukrainian). DOI: 10.31521/modecon.V25(2021)-24

Identifiers

DOI

10.17512/znpcz.2023.2.02

Biblioteka Nauki

21375330