Integral assessment of the financial secrity level of enterprises in the modern conditions of Ukrainian economy development
Journal Title: Економіка. Фінанси. Право - Year 2018, Vol 6, Issue
Abstract
The article is related to the necessity of improvement the methodological approaches to determining the level of financial security of an enterprise, the system of indicators which characterize it, as well as the choice of criteria for evaluation. The aim of the paper is to develop the methodology of the integrated assessment of the level of enterprise financial security based on the generalization of existing approaches and taking into account the features of modern development of the economy of Ukraine. In order to provide a comprehensive assessment of enterprise financial security, the selection of indicators has been carried out to determine the state of its components: financial stability, liquidity and solvency, profitability, business activity, investment attractiveness, assets state. Weighted indexes for each of the indicators of the determined components in the integrated assessment framework of the enterprise financial security are given on the basis of the expert method. It is proved that it is expedient to use the average values of financial security indicators as benchmarking indexes for enterprises of all types of economic activity. The advantage of this rating system is that on the basis of statistical reporting it is possible to calculate all necessary indicators considering the real economic situation in the country and the peculiarities of financial and economic activities of enterprises of various types of such activity. The method of determining the integral index of financial security of the enterprise is proposed in the article. The estimation of the level of enterprise financial security is based on using six components, in which 19 indicators are defined. The results of the conducted research specify that for estimating the level of financial security of an enterprise the most effective approach is to identify its integral value. Integral indicators of the level of financial security of enterprises for certain types of economic activity were calculated for approbation of the proposed methodology. Average calculated values of indicators of Ukrainian enterprises were used as the reference values of the indicators.
Authors and Affiliations
Viktoriia Hennadiivna Andrieieva, Olena Mykolaivna Matusova
Keywords
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