Financial Instruments of Stimulating Innovative Activities of Enterprises and Their Improvements

The role of strategic analysis in the activity and ensuring the economic stability of the airline in the modern conditions of economic development is considered. An analysis of approaches to the study of the airline's external environment in unstable market economic conditions. The specifics of the application of strategic analysis in aviation enterprises are scientifically substantiated. It is established that at the stage of strategic analysis interpret the strategic position of the organization by identifying changes in the economic environment of the organization and determining their impact on the organization and its activities, as well as identifying benefits and resources of the organization depending on such changes. The professionalism of the analysis of the modern airline allows to determine the main time tasks that it wants to perform in the medium and long term to achieve the goal. This limitation in the time period implies that in the process of implementing the strategic plan, the company must repeatedly take corrective action, which at the last stage radically changes the nature and direction of the planned results. Theoretical principles and practical recommendations for the use of strategic analysis as a tool for the formation and implementation of airline development strategy are proposed. Determining a strategic problem in advance increases the time you can respond to it. However, with increasing frequency of possible sudden changes, the degree of their predictability decreases. This means that until sufficient information is received for well-thought-out measures, there is a lack of time to implement them, which could harm the airline or lead to a loss of profitable economic opportunity. Tactical and strategic management in all respects should be based on a scientifically sound methodology of systems analysis to solve emerging problems.

mentioning

confidence: 99%

Strategic Analysis as a Tool for the Formation and Implementation of Air Company Development Strategy

Razumova¹,

Kyrylenko²,

Gurina³

et al. 2020

“…Thus, in terms of entrepreneurship, public interest is directly related to economic benefits for all users interested in the activities of an entity [9].…”

mentioning

confidence: 99%

Role of Audit in Managing Public Interest Entities

Lubenchenko¹,

Riashchenko²,

Živitere³

et al. 2020

The article discusses current issues of interaction between external auditors and management of public interest entities with the aim of making managerial decisions aimed at ensuring the continuity of an entity, ensuring balance between resources and their sources, eliminating distortions in financial statements. Based on the study, it has been found that the definition of «public interest» is inextricably linked with the economic benefits of interested financial statements users. Internal control (audit) is aimed at prompt response to negative effects of economic activity. Considering financial performance generally, external audit provides users with reliable information on financial and property status of the audited entity, its financial results, and changes in cash flow and equity. Management team of a public interest entity has to create an audit committee to interact with an external auditor. At the same time, an external auditor creates an additional report and informs the audit committee on the applied principles of independence, on the key partner, on the auditors involved, on the scope and timing of the statutory audit, on the audit methodology, the materiality level chosen for the audit, on business continuity of the audited entity, on the shortcomings of its quality control system, on identified violations of the law, and on the interaction of auditors and management during the audit. A letter from the auditor to those with the highest managerial authority also contains information about the internal control system and its ability to identify deviations from legislative norms. A final document informing report users on financial and property status, operating activity, cash flow and equity statements of the audited entity is an audit report, which may include the following opinions of an auditor: unqualified opinion, qualified opinion, adverse opinion, and disclaimer of opinion. The management of the audited entity makes decisions on adjusting internal control system, financial statements, and revealed deviations from legislative norms based on audit documents preceding the report and the audit report itself. The procedure for adjusting the customer's internal control system of the audit, its financial statements identified during the inspection of deviations from existing legislative standards on the basis of audit documents preceding the audit report and an additional report for the audit committee of the enterprise is considered.

“…Many researchers highlight the necessity of development of new strategic-oriented accounting systems and provide their own recommendations for its practical implementation. Among them, in particular, R. Bruhanskyy [2], I. Bohata [3], M. Bolduyev [4], S. Holov [5], A. Pylypenko [6], M. Pushkar [7; 8], V. Tkach [9], O. Lyulyov [10], A. Masharsky [11], O. Liubkina [12] and others.…”

mentioning

confidence: 99%

The Empirical Evaluation of the Usefulness of Accounting and Financial Information for Strategic Management of Enterprises in Ukraine

Boiarko

Hrytsenko

2020

Urgency of the research. The second half of the nineteenth century is characterized by significant shift of paradigm in accounting, which is aimed to transform accounting in effective system of information support of management based on the gradual integration of management functions-accounting, planning, analysis and control. The result of this process is expanding the time horizon of accounting by supplementing it with prognostic function associated with the ensuring of information and analytical background of budgeting process. Target setting. Changing of management concept from short-term tactical cost management to long-term oriented value management causes improvement of accounting systems, adding of new methods that provide the necessary information both for certain and prospective decision making process. Actual scientific researches and issues analysis. Many researchers highlight the necessity of development of new strategic-oriented accounting systems and provide their own recommendations for its practical implementation. Among them, in particular, R. Bruhanskyy, I. Bohata, M. Bolduyev, S. Holov, A. Pylypenko, M. Pushkar, V. Tkach and others. Uninvestigated parts of general matters defining. But these researches are dominantly focused on transformation of accounting, correcting of its goals and tasks, expanding of requirements to essence and character of accounting data, developing of new structural components in accounting system. The research objective. The aim of this research is an empirical study of accounting and financial information' utility due to needs of enterprises' strategic management in current conditions in Ukraine. This task would be realized with the help of correlation and regression analysis of prices formation on shares under the influence of financial and economic indicators that are mentioned in the financial statements of enterprises. The statement of basic materials. The results of correlation and regression analysis of prices formation on shares of industrial enterprises of Ukraine are presented in the article. The authors determined which of the indicators that presented in the financial statements affect on formation of the market value of shares of enterprises. The stochastic dependency model of market capitalized value of conditional averaged share of industrial enterprise of Ukraine on the change of accounting data of financial reporting is offered in the article. On the results of the empirical utility assessment of accounting and financial information, it was concluded about its low informative value for decisions making on investing resources into the development of domestic industry. Systemic provision of strategically meaningful information requires the development and implementation of strategically oriented accounting systems. Conclusions. Strategic decision-making gradually become administrative function that is realized on a regular basis and requires permanent formation and providing of strategically important information that should be measured by strategically ...