and Economics FINANCIAL SECURITY OF UTILITY ENTERPRISES: ESSENTIAL FEATURES AND ASSESSMENT METHODS У статті окреслено основні особливості функціонування комунального підприємства як організаційно правової форми господарювання. Виділяються основні змістовні акценти фінансової безпеки комуналь ного підприємства, які полягають у необхідності дотримання балансу фінансових інтересів між підприєм ством, владою і громадою. Проаналізовано специфіку побудови фінансових відносин та фінансових інте ресів комунальних підприємств, узагальнено результати дослідження фінансового стану великої вибірки комунальних підприємств України, виділено загальні тенденції в рівні показників фінансового стану. Грун туючись на існуючих науково розроблених методичних підходах до оцінки та кількісних методиках діаг ностики фінансової безпеки підприємств, а також на результатах власного дослідження, запропоновано уточнення сутності фінансової безпеки комунального підприємства та розроблено систему показниківіндикаторів загроз фінансовій безпеці комунального підприємства. The article outlines the main features of the municipal utility enterprises functioning as an organizational and legal form of management. The main substantive accents emphases the financial security of the municipal utility enterprises is highlighted, which are the need to maintain a balance of financial interests between the company, government and community. The peculiarities of building financial relations and financial interests of public utility companies are analyzed, the results of the study of the financial condition of a large sample of public utility companies of Ukraine are summarized, and the general trends in the level of financial condition indicators are highlighted. These trends are: stable capital structure with a significant advantage of equity; the source of equity capitalization is mostly contributions to the authorized and additional capital, not net profit; most utilities operating in a competitive market are profitable; the vast majority of utilities have liquidity ratios within the norm; most utilities have a small share of accounts payable and receivable in the balance sheet structure; most utilities have a high degree of fixed assets depreciation; a significant share of utilities have unpaid capital in the structure of equity; a certain share of utilities provide its profitability through non operating activities. The study of scientific and methodological approaches to assessing the financial security of the enterprise based on the financial statements indicators allows identifying the four types of methods: two methods belong to the resource functional approach, two-to the indicator approach. Based on the existing scientific developments of methodological approaches to the assessment and quantitative methods of diagnosing financial security of enterprises, as well as the results of our own research, it is proposed to clarify the essence of financial security of municipal utility enterprises. Assessment a utility enterprise level of financial securit...
The destruction of the municipal economy of many Ukrainian cities, caused by russian military attacks, and the increase the burden on the municipal economy far from the front line regions, actualize the issue of optimizing the financing of municipal owned enterprises. Against the background of the projected reduction of Ukraine's GDP by 40% in 2022, the ability of local budgets to recapitalize their municipal companies will significantly decrease, which will also encourage local authorities to search for optimal ways of financing municipal owned companies. The purpose of the article is to substantiate the features of capital formation of municipal owned enterprises and to develop proposals regarding priority sources of capital formation. Methods and methodology. In the process of research, general and specific methods of scientific knowledge were applied, namely: the method of scientific generalization, the method of analysis and synthesis, historical and inductive methods, as well as the tabular method. Results. The practice of capital formation of municipal enterprises in Ukraine as a whole and a sample of enterprises in regional centers was studied. The prevalence of the practice a zero amount of authorized capital forming has been established. This leads to the dilution of the owner’s responsibility and minimizes the managers’ responsibility of such enterprises. The low share of internal sources in the capital formation, the low share of targeted financing and the reduction of the borrowed capital share have been proven. Against the background of the low level of grant funding involvement for municipal enterprises, this leads to an increase in the dependence of municipal enterprises on local budgets. Quite high levels of state aid to utility enterprises have been established, which distorts economic competition. The need to develop a policy for optimizing the number of utility enterprises and their financing is substantiated.
Prediction of the effective development of the enterprise implies the need for mathematical modelling of the leading financial and economic indicators of its life. High variability of approaches to the assessment and selection of indicators determines the existence of various approaches to their modelling.The complexity and complexity of the structure of economic activity of the enterprise, suggests the possibility of splitting the general situation into more specific cases, which allows you to apply a logical procedure to them, which is a simulation.The use of mathematical modelling allows you to speed up the economic analysis, contribute to a complete account of the influence of factors on the results of operations, increase the accuracy of calculations. It allows you to get a clear idea of the investigated object, to identify relationships, analyze features and give an accurate forecast of the development and changes in the basic financial and economic parameters of the enterprise.
БАГАЦЬКА Катерина, к. е. н., доцент кафедри економіки та фінансів підприємства Київського національного торговельно-економічного університету вул. Кіото,
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