The efficient financial management in profit organizations are the getting their specific values of basic performance indicators (efficiency criteria), which characterize the solvability, financial capability, profitability of the economic agents. It’s not correct to use standard values estimating the efficiency of small and medium-sized companies’ financial management, being that such enterprises carry on business in the specific industry (there are not the diversification of business) in one specific region, having a small range of activity and sales. This determines the fundamental inequality conditions and objective preconditions their business, being reflected in financial status and results. The research takes into consideration the industry and regional environmental features, using the financial data reporting of profit-making small and medium-size enterprises of the Volgograd Region, which do business in distributive trade, manufacture, building and construction sector. Logics of research based on reference approach to estimate the efficiency of financial management: the values of basic performance indicators of enterprise getting profit a long time in spite of changing in the region’s economic climate, should be taken as the target values corresponding to efficient financial management. Based on research numerical values of industry-specific performance indicators were got. Those indicators are not equal to standard values. The target level of financial indicators serves as a guidemark for small and medium-sized companies to get the efficient financial management and be reaching profitability.
The need to protect the national commodity producers and internal markets in general is well recognised in modern foreign trade policy worldwide. The goal of the research is to review the Russia’s customs policy aimed at protection of the internal market; to give consideration to the totality of measures used for protection of the national producers; to identify the shortcomings of the adopted protection tools, the problems faced in their adoption and use; to suggest certain directions for further improvement of the Russian Federation customs policy in the sphere of protection of the internal market. The methods involving analysis and synthesis were used to meet the objectives of the study. Its efficiency as a protective measure was thoroughly investigated, as well as the timeliness of its application, the potential for neutralisation of negative effects of external companies; compliance with the Russian legislation and the regulatory framework of the World Trade Organisation (WTO) and the Eurasian Economic Union (EAEU). The decision-making mechanisms for introduction of protective measures in the EAEU were investigated as well as the attitude towards the relevant instruments of the member states’ governments. The following results were obtained in the course of the study: the key importance of the Russian customs service in implementing the state policy towards protection of interests of the internal market was unequivocally confirmed; the measures to protect the national market were classified, with demonstration of their importance and shortcomings; the difficulties in the work of EAEU’s supranational bodies related to the protection of the common economic market were identified; the most important vectors of further improvement of the customs regulation and customs administration, as concerns enforcement of measures towards protecting the Russian Federation domestic market, were identified.
The article presents a coherent solution to the problem of the well-founded selection of benchmarks for evaluating the effectiveness of managing small business finances under objective restrictions on their economic activities (financial, personnel, information support). The methodological tools under development are limited to the framework of the current and operational management level. At the current level, the main directions are the evaluation of the effectiveness of managing current assets and capital formation in the context of own and short-term borrowed funds. For each direction, universal indicators were selected to evaluate the effectiveness of such management, regardless of the type of economic activity of the small enterprise. The specifics of the calculation of indicators and the determination of their target level for small businesses are substantiated. At the operational level, coefficients are presented that allow tracking the status of current accounts and liabilities of an enterprise, receipts and expenditures of funds, which is a prerequisite for achieving target values of basic indicators of current level performance.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.