Modern financial control: Challenges, contradictions, and digital development tools

Tatuev, Arsen Azidovich; Ovcharova, Nataliya I.; Galyuta, O.N.; Zalevskaya, M.A.

doi:10.24891/fc.24.12.2661

Cited by 3 publications

(1 citation statement)

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“…Економічні вигоди сучасного бізнесу значною мірою визначаються конструкцією та ефективністю системи управління, яка базується на взаємозв'язку між такими поняттями як: планування (оцінка), фі-нансовий облік, вимірювання та управління. Особливе місце у цих системах слід відводити фінансовому контролю, щоб він відігравав важливу роль і був корисним інструментом у процесі дослідження діяльності бізнесу, вибору та реалізації стратегії управління, про які багато менеджерів часто забувають [1].…”

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Modern financial control of operations at the enterprise: its essence and features

Kovtunenko¹,

Bondarenko²

2020

Econ. Fin. Law

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The purpose of the paper is to improve institutions and legislation on public finance management in Ukraine, to define the concept of "financial control", to consider the process of development and formation of financial control, to highlight the financial control`s features, to justify the need for long-term financial control. Financial control and financial management in the enterprise are very important for every state. The current state of economic improvement in Ukraine should increase the role of the state in regulating the economy in order to identify differences between the law, recognizing the standards and functioning of financial control. At the present stage in Ukraine, the issue of establishing unification of public finance management remains unresolved: there is a discrepancy in state legislation. The Ukrainian economy`s growth leads to an additional need for financial control in a moment. Thus, its role and importance in securing the assets of different types of members’ organizations, the equipment`s efficiency, labour and finance. The paper is devoted to the key issues of finding ways to ensure financial control in the organization and the regulatory framework in this area. The paper presents an overview of financial control by state (local) resource management and their use, as well as financial control of public administration by the state external financial regulator (audit), the Ministry of Finance on behalf of the Verkhovna Rada of Ukraine, and public finance management, including internal management and internal audit, which are provided by current legislation. In the paper was presented a study of the financial control`s concept. The main types of financial control, its goals and objectives are researched. The author emphasizes the importance of the organization’s internal financial control and the key stages of its development. The types of external control and features of their application were also researched. In conclusion the Ukrainian financial management`s current state is researched.

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Modern financial control of operations at the enterprise: its essence and features

Kovtunenko¹,

Bondarenko²

2020

Econ. Fin. Law

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Internal control within the conditions of performance budgeting of universities

Ендовицкий

Титова

2021

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Subject. This article discusses the issues of improving the financing of universities, the development of performance-based budgeting to support their activities. Objectives. The article aims to assess the problematic aspects of financial support for the activities of higher education institutions, including using the performance-based budgeting, and identify the features of its implementation that affect the system of internal control at universities. Methods. For the study, we used the methods of analysis, grouping, comparison, and generalization. Results. The article summarizes the problematic provisions of financing the activities of universities, including the use of the performance-based budgeting method, and justifies the need to transform the internal control of universities. Conclusions. The article concludes that the development of the system of financing the activities of universities generally corresponds to foreign practice, although there are some shortcomings in the financing of higher education institutions. Internal control of universities should be modernized taking into account the strategic nature of the project financing process and the possibilities of digitalization of control activities.

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Algorithm for Internal State Financial Control by the Treasury of Russia: Problems and Solutions

Simko

2020

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Modern financial control: Challenges, contradictions, and digital development tools

Cited by 3 publications

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Modern financial control of operations at the enterprise: its essence and features

Modern financial control of operations at the enterprise: its essence and features

Internal control within the conditions of performance budgeting of universities

Algorithm for Internal State Financial Control by the Treasury of Russia: Problems and Solutions

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