Digital management of financial condition of agricultural enterprises

Abstract

The paper discusses the methodology of digital management of the financial condition of the enterprise and a set of engineering mechanisms that provide financial, managerial, strategic accounting, control and management of the reserve system of the institutional unit. The financial condition of the entities has been measured for more than 6, 000 years, having gone from simple commensuration of property with obligations to the creation and use of digital systems for managing financial risk zones in real time.

Functioning of the agro-industrial complex in the digital economy

“…The concept of "Digital Economy" is enshrined in the Strategy for the Development of the Information Community in the Russian Federation for 2017-2030, approved by Decree of the President of the Russian Federation dated 09.05.2017 No. 203 [2]. Agriculture, being an integral part of the agro-industrial complex, is forced to rapidly become high-tech and innovative, allowing to measure in detail all processes taking place on land or farm [3].…”

“…Currently, almost all rural producers understand that the use of digital technologies is the main condition for survival in the market [2]. Digitalization of agriculture, first of all, will affect accounting specialists -it is intended to modify the business information support system, in which the role and importance of accounting and financial reporting are undeniable [5].…”

Decision Making with the Use of Digital Inclusive Financial Systems by New Agricultural Management Entities in Guangdong Province, China: A Unified Theory of Acceptance and Use of Technology-Based Structural Equation Modeling Analysis

“…The importance of examining their financial behaviors and needs cannot be overstated, as this provides invaluable insights into the current dynamics and future trends of rural financing [63]. Furthermore, these agricultural entities have an amplified need for financial resources to channel into various agricultural endeavors, such as production, equipment acquisition, and infrastructure development, thereby presenting a heightened demand for credit options [64]. As primary beneficiaries of agricultural financial services, these new business entities have elevated access to a diverse range of financial products and services [65].…”

Innovation as a Strategic Direction for Increasing the Economic Efficiency of the Agro-Industrial Complex

“…Ensuring the productive functioning of the agricultural sector in modern economic conditions objectively requires a large-scale and fundamental reform of the business model of agriculture, based on the transition from a resource-based (extensive) to an innovationoriented (intensive) paradigm based on the active use of digital technologies in the organization, monitoring and management of agribusiness. The importance of implementing a systematic, holistic and complete revision of approaches to agriculture is justified by the following factors: 1) the internal environment of the agro-industrial complex has a complex and nonlinear structure of value chains between the agribusinesses in the field of livestock and crop production and the processing link already related to industry, and any violation of their integrity leads to an interruption of the operational cycle of production of final products; 2) the aggravation of global problems of population growth, the deterioration of the biosphere and the need to find new mechanisms to ensure food security; 3) there is an objective lag between the Russian agro-industrial complex and the world according to the criteria for the use of digital technologies and innovation activity: according to ITC in 2021, Russia took only the 18th place in the export of agricultural products (2.0% of world exports) [1]; share of patent applications in the field of agriculture according to data for 2021 It was 0.9%, and innovation activity is 17-20 times lower than in the Netherlands, Denmark and Germany and 10-12 times lower than in Poland and Turkey (the countries are taken as important partners-importers of seed material, equipment and technologies) [2] 4) the emergence of conflicts between the adoption by state regulators of the concept of a "green economy" based on responsible environmental management and leveling the "economic footprint" with traditional agribusiness development strategies. All this determines the relevance and practical significance of the topic of scientific research.…”