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Summary of research and developments

Abstract

Relevance of the topic

In the current economy has increased autonomy of enterprises in the adoption and implementation of management decisions, and consequently, their economic and legal responsibility for the results of economic activity. Managers must constantly monitor the effectiveness of existing resources as assets, the competitiveness of its products, commitments to contractors because these parameters determine not only the current state of the company, but its prospects in the future.
In the current economic conditions the activities of each entity is the subject of attention of a vast range of participants of market relations (organizations and individuals) who are interested in the results of its operations. Based on the information available to them reporting and accounting information these individuals are trying to assess the financial position of the company. The need to manage the financial condition of the company due to the fact that a large number of business entities are in serious condition, namely with regard to their solvency and losses. One of the tools to install and manage financial condition is the economic and financial analysis, you can use to objectively assess the internal and external relations of the object, which analyze: to characterize its solvency, efficiency and profitability, prospects, and then its results to make informed decisions .
At the present stage of analysis of the financial condition of the company is in the gradual development and improvement, but an analysis of financial condition date has not yet fully meet the new requirements of the financial performance of the enterprise. In turn, the methodological techniques are imperfect, and the legislative framework, which is constantly changing, too, contributes to a negative effective operation of enterprises.
Financial condition or state is a very important indicator that reflects the result of the interaction of all elements of financial relations arising from the company in its business, and is characterized as the placement and use of assets and sources of their formation.

The purpose of the research

Further development of theoretical and methodological foundations of the development for assessing financial condition. Analysis of the known results of research scientists, ordering them to develop their own opinions and directions. Analysis and development of recommendations for the company, which was chosen for the internship.

The object of study

The process of managing the financial condition of the fuel and energy complex. The methodology of analysis and evaluation of silica state enterprises.

Subject of study

Practical and theoretical principles of the financial condition of companies in the interaction of all elements of the economic system.

Methods of investigation

Analysis of economic and financial ratios, income approach, cost approach, a comparative approach, analyzing the structure of the balance of horizontal and vertical analysis.
All selected methods should be reflected in the work of many domestic and foreign authors, ie based on scientific studies and concepts of many scientists. For information database were elected: legislative and regulatory acts of Ukraine, scientific articles, publication of periodicals.

The practical value of the results

When the master's work was performed: calculation of financial stability, liquidity analysis, calculated several measures of profitability, made an analysis of assets and sources of its formation, was made by analysis of solvency and financial condition Projections of the enterprise. It says on the implementation of a general analysis of financial condition. It also developed recommendations to improve the financial condition of the company, provides practical advice on stabilization and crisis effects and phenomena while it was traineeship in the company.



Contents of Master's research

Introduction

The introduction gives a description of master's work in general, is considered the relevance of research, its practical value. It is also characterized by a subject and object of study.

1. Theoretical foundations of the financial condition of enterprises

Considering the first part of the master's work is done attention to the financial condition of the essence. The characteristics of different definitions on this concept as an economic category. It also discusses the need for management and analysis of financial condition during the entire period of operation of the business. We present aspects and areas of financial analysis as a necessary part of the management of financial condition.
The first part of this section is devoted to the characteristics of the functioning of the enterprise, which has been carried out analysis of financial condition. That is considered industry the power industry's fuel and energy complex of Ukraine. Provides analysis of power generation industry, characterized by the state of the industry in Ukraine. Also developed several recommendations to improve the industry and the economic growth potential of companies.
The second part of the first chapter is devoted to disclosing the financial condition of the enterprise as an economic category. We consider the judgment and determination of many domestic and foreign authors carried out an analysis of these points of view. A necessary part of this paragraph is to discover the importance of managing the financial condition of the enterprise. The possibilities of its implementation due to various destinations. In addition, this part is a description of the implementation of financial analysis, argues the need for constant monitoring of financial status. Expands the concept of financial capacity and capabilities of its effective use [1].
The third part of the first section is devoted to the performance of financial analysis and the need for its implementation in the management of financial condition. Since a detailed financial analysis allows to plan and forecast economic and financial phenomena. Also, the financial analysis is not only a means to inform management decisions and plans, but also a tool to monitor their implementation. The planning process begins and ends with an analysis of the financial results of the company. It allows you to increase the level of control, making it more scientifically sound. Big role in determining the financial analysis and use of reserves of the company. Evaluation of the financial condition, is a very important component of any economic study [9].

2. Methodological approaches to the management of the financial condition of the enterprise

The second part of the master's work is devoted to the analysis of the main directions for the financial state. The different areas of financial analysis, the characteristic of not only the main financial indicators, which relate to the basics of financial management. It also covers areas such as: controlling, graphical analysis, investment management and risk management.
In the first part of the second section is characteristic of the main indicators of financial management such as financial stability, liquidity, analyze receivables and payables, pay, an analysis of assets, liabilities and assets. For these indicators are ways of calculations and interpretation of results. The resulting analysis for each of the areas, the indicators reveal a picture of the current financial state of enterprises and provide an opportunity to see the weak points in the capital structure of enterprises, to assess the future prospects and plan further development of a business entity [2].
Further, the master's work describes the concept of controlling the need for its implementation in the enterprises, ie considered its essence and purpose of the task. Controlling is not reducible to a simple control system, and covers a wider scope of the enterprise, as controlling - this sys ¬ subject of observation and study of the behavior of the economic mechanism of ¬ specific companies and developing ways to achieve the goals which it set itself, and the system , focused on the future of the enterprise. Controlling not only implements one of the functions of management, in particular, is the concept of effective management of the company and provides long its existence in a competitive environment. In particular, there are different interpretations of this instrument, such as the American and German models.
In addition to the second section of master's work is characteristic of the need for forecasting and planning. Under the prognosis is understood scientifically informed judgment about the possible changes of the object in the future, alternative ways of development and timing of their implementation, while at the same time, this prediction of the amount and distribution of financial resources on a certain period of time in the future by studying the dynamics of the enterprise as a business entity. The importance of forecasting the financial condition due to the fact that without the foresight of its main indicators of the company is unable to plan the development of its material and technical basis, it is reasonable to build its business relationships with customers and suppliers, banks and other partners [14].
Also in this section discusses the methodological principles such as: graphic analysis, risk analysis, vertical and horizontal tests. In addition, an important aspect of this part is the characteristic features of a graphical analysis of financial condition of the company. Graphical methods for diagnosis of the financial condition and the threat of bankruptcy, as a rule, have no independent value, and are used for better interpretation of research results and conclusions obtained by means of a preliminary review of methods and techniques.

3. Measures to improve the management of financial state enterprises

The third section concerns the calculation of key indicators of financial condition of the company, such as liquidity, solvency, stability, the coefficients of accounts receivable and accounts payable, analyzing financial status. On the basis of these calculations has been carried out analysis and interpretation of results. Also on the basis of calculations made recommendations to improve the financial condition of the control system of the enterprise.
A number of recommendations and directions to improve the system for the financial state of enterprises, including improving the methods of asset management, investment, risk, and the like.

Findings

This section discloses the basic directions and results of the study. Summed up the main results and provided options for improving the financial condition of the control system. That is, all directions of master's work reflected in this section briefly, or in other words, all lines of research were systematized in their sequence. In addition, the ways of improving the information system and identified the main factors hindering the establishment of an effective information environment in the enterprise, was added.

In writing this essay master's work is not yet complete. Final completion: December 2012. The full text of the work and materials on the topic can be obtained from the author or his head after that date.

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