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аспірант кафедри бухгалтерського обліку та аудиту Одеського національного економічного університету Кузіна Р.В. професор кафедри бухгалтерського обліку та аудиту Одеського національного економічного університету

The article analyzes the current state and patterns of development of the municipal infrastructure of the Odessa region. In our research were selected nine enterprises of the communal infrastructure of the southern region of Ukraine. The analysis of their activity was carried out, in particular the trend analysis of the operation of typical enterprises of communal infrastructure. It proved that the profitability of enterprises does not depend on what types of services they provide. The enterprise's profitability is calculated, which characterizes the efficiency of the invested fixed and current assets of the enterprise. As a result of research, we see, that in the typical enterprises (KP "Chornomorskteploenergo" and OKP "Mykolaivoblteploenergo") until 2016 the profitability was decreasing. However, starting from 2017 the level of profitability of KP "Chornomorskteploenergo" began to increase rapidly, while at the enterprise OKP "Mykolaivoblteploenergo" the negative tendency to decline of profitability proceeded. We determined indicators for assessing the effectiveness of investment projects for municipal infrastructure enterprises as well. We can recommend to calculate both ways -static (return on investment, payback period) and discounted (net present value of the project, return on investment project index, internal rate of return, modified internal rate of return) indicators. That indicators are closely interrelated and allow us to estimate efficiency comprehensively. For example, the profitability index characterizes by simplicity, and shows us the marginal level of profitability, the value of which the company can compare with the cost of equity or borrowed capital and have an initial idea of the effectiveness (feasibility) of the project; the payback period also allows you to quickly and effortlessly (simply) form an idea of the feasibility of the project. At the same time, discounting methods take into account the value of money over time, as well as depreciation deductions as a source of cash flow. The net present value of a project will indicate whether it will be profitable if the present amount of its future net income (cash flows) is reduced to the present time and the present value of the investment is deducted from them.

The article reviews the macroeconomic consequences of natural disasters based on the ECLAC methodology, which separates direct physical damage from indirect damage and additional or secondary effects. A study of the impact of natural disasters on long-term economic growth and development has shown that the scarcity of financial resources after a natural disaster reduces future growth and requires the disclosure of risks associated with dangerous natural phenomena for three reasons. Firstly, there are large opportunity costs associated with diverting scarce financial resources into relief and disaster recovery efforts. Secondly, natural disasters can damage an already complex budgeting process. Thirdly, natural disasters place high demands on international aid resources, diverting resources from development. Natural disasters have a negative impact on both the short and long term. These developments refute the somewhat simplistic notion of a general decline in vulnerability to natural disasters as the economy grows. Instead, a more sophisticated perspective needs to be adopted and applied when conducting detailed macroeconomic risk assessments. Based on the results of such assessments, the risks associated with natural hazards should be included in general development policies and plans. Risk management strategies should also reflect the fact that disasters occur in different hazard categories (climatic, geophysical or epidemic) and entail different risk reduction options. It is also necessary to assess the experience gained from specific events and, if necessary, take appropriate action. Disasters can cause policy and institutional innovation changes that ultimately benefit, in some cases, not only in reducing vulnerability but also in supporting economic growth and development: deregulating agricultural investment, applying climate forecasting to reduce the impact of climate variability, financial risk management mechanisms. In order to manage risks and mitigate the effects of natural disasters by informing users of financial statements about possible side effects of the pandemic, the issue of disclosure and recalculation of financial statements was considered to reflect the effects of coronavirus on companies and assess financial risks.