IMPROVEMENT OF THE MANAGEMENT SYSTEM OF FINANCIAL RESOURCES AT DOMESTIC MILK PROCESSING ENTERPRISES
Journal Title: Інноваційна економіка - Year 2017, Vol 71, Issue 9
Abstract
Purpose. The aim of the article is the development of theoretical, methodological provisions of the financial resources management system for milk processing enterprises and practical recommendations for the use of its structural elements, which will promote the achievement of stable financial and economic indicators and socially important results of activity. Methodology of the research. Modern general scientific and special methods of economic research are used in the article, in particular: a systematic approach – when studying the connections between phenomena and processes in the system of management of financial resources of dairy processing enterprises; statistical analysis – in determining the dynamics, structure and performance of the development of dairy processing enterprises; dialectical, abstract and logical – when conducting theoretical generalizations and drawing conclusions. Findings. It was established that the system of balanced management of financial resources of dairy processing enterprises is based on mutual relations with interested parties. It has been determined that the level of ensuring economic growth, sustainability of enterprise development and enhancement of corporate social responsibility can be estimated by the system of financial and non-financial indicators. Originality. It is scientifically substantiated that, it is necessary to ensure a combination of financial and economic indicators and non-financial indicators in the formation of the balanced system of indicators that characterize the level of social responsibility of dairy processing enterprises to society. Practical value. It is proved that the use of borrowed capital by enterprises (long-term liabilities and long-term borrowed funds) allows to increase the level of return on equity of the enterprise, but it is necessary to balance the structure of capital in order to provide an acceptable level of risk of loss of financial stability with the maximum return on equity.
Authors and Affiliations
Inna Sviderska, Olha Varchenko
Keywords
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