ASSESSMENT OF THE LEVEL OF THE ENTERPRISE FINANCIAL SECURITY AS THE MAIN COMPONENT OF ECONOMIC SECURITY: A SYNTHESIS OF EXISTING METHODOLOGICAL APPROACHES AND CRITICAL ANALYSIS
Journal Title: Проблеми системного підходу в економіці - Year 2018, Vol 1, Issue 63
Abstract
The enterprise’s economic security is a complex system based on its financial security. In the system of economic interests of the enterprise, the most significant is its stable functioning, which is ensured by a stable financial condition, an increase in profit and the further development of its activities. Timely diagnosis of external and internal threats to minimize their negative impact is ensured by the use of an assessment of the level of financial security of the enterprise as a key element of economic security. The aim of the work is to summarize the existing methodological approaches to assessing the level of financial security of the enterprise as the main element of economic security in order to select the optimal ones. The article analyses approaches to assessing the enterprise’s financial security as a key element of economic security, they are based on the following approaches: indicator, resource-functional, economic-mathematical approach, forecasting of bankruptcy, estimation of the financial stability of an enterprise, approach to functional components. The economic and mathematical approaches, in our opinion, are more complex, as they require the involvement of additional specialists. In addition, scholars further highlight the approaches to financial security as a key element of economic security, such as: cash flow research, the definition of integral indicators, strategic target approach, and “minimizing the total damage to security” approach. In our opinion, the most operational is the calculation of the assessment of the financial sustainability of the enterprise and prediction of bankruptcy. These methods will help quickly identify threats to the financial and economic security of the enterprise. The research has shown that the following approaches are not considered by scientists in evaluating financial security of an enterprise as the main element of economic security, namely: profit-investment approach, three-dimensional approach, indicator-index approach, programmatic target approach, expert approach, matrix approach, narrow-functional approach, approach on the basis of the theory of economic risks, accounting approach. But we believe that it is advisable to use them to assess the level of financial security as a key element of economic security.
Authors and Affiliations
T. O. Melikhova
Keywords
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