FORMATION OF THE FINANCIAL STRUCTURE OF THE WORKING CAPITAL AND CURRENT ASSETS OF TRADE ENTERPRISES IN UKRAINE
Journal Title: Економічна стратегія і перспективи розвитку сфери торгівлі та послуг - Year 2019, Vol 1, Issue
Abstract
The main tendencies which are revealed in the dynamics and structure of formation of assets and capital of wholesale and retail trade enterprises of Ukraine during 2010–2017 are analyzed. The key role of working capital as the most mobile financial part of trade enterprises’ financial resources is substantiated. It is discovered that the vast majority of domestic Ukrainian wholesale and retail enterprises suffer from severe shortage of their own financial resources for investing in total and working capital, which is source of current assets financing and it ultimately affects on the level of financial stability, liquidity, solvency and profitability of financial and economic activities of trade enterprises. The internal and external factors which effect on the imbalance in the structure of own and borrowed financial sources of working capital and currant assets of trade enterprises were determined. It is proved that the financial status and efficiency of financial and economic activity of trade enterprises are highly dependent on the formed vertical and horizontal structure of the balance, the optimal balance between the constituent elements of assets and capital, the sufficient availability of own and borrowed financial resources which are necessary for providing social and economic development of trade enterprises The principles and criteria for optimizing the vertical and horizontal financial structure of total and working capital, non-current and current assets of trade enterprises are determined. These principles and criteria determine the indices of financial state, level of solvency and financial security of trade enterprises. The formation of rational structure of assets and capital will be facilitated by optimal correlation between the price of financial resources and the profitability of those parts of the assets in which they are invested; taking into account the terms of attraction, use and return to creditors of borrowed funds and the duration of turnover of the relevant parts of current assets; achievement of target levels of profitability, liquidity, financial stability in the process of using current assets of trade enterprise. The necessity of efficient management of borrowed working capital is substantiated, with taking into account its dominant role in the formation of financial resources of Ukrainian trade enterprises.
Authors and Affiliations
Альона Сіфурова, Alyona Sifurova
Keywords
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- EP ID EP598057
- DOI 10.5281/zenodo.3253867
- Views 88
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