Moiseeva F.A., Ageeva A.S.
Donetsk
National University of Economics and Trade
them.
Mikhail Tugan - Baranovsky
Features
notice of bankruptcy in Ukraine
The
problem of bankruptcy businesses in Ukraine is becoming increasingly important
for local practices through a deep crisis in the European Union, which covered
countries such as Greece, Ireland and Portugal. Experts predict that in 2013,
the crisis hit, and in Ukraine, among the possible consequences which
specialists distinguish inflation and devaluation of the national currency.
These problems can lead to an increased number of unprofitable enterprises in
the absence of implementing preventive measures bankruptcy, strengthen crisis
in the country.
An
important contribution to the solution of specific aspects of this problem was
made by such domestic and foreign scholars as Blank, Kopylyuk, Tereschenko,
Cherep, Shtangret and others.
The
process of implementation of products and services requires the company to
enter into financial relationships with other entities, financial and credit
system and the state. These relationships provide performance now cash
obligations and duties prolonged and continuous violation of which leads him to
discharge insolvent.
Unsatisfactory
work of the financial software company leads to bankruptcy and commercial
organizations. Bankruptcy is an integral part of the competitive market
environment. Without failure there is no competition. The possibility of
bankruptcy forcing companies to take measures to ensure financial stability,
improve efficiency and productivity.
Although
bankruptcy is a legal fact, was based on mainly financial reasons, including
[1]:
1.
Serious violations of enterprise financial stability, which prevents the normal
conduct of its business;
2.
Significant imbalance volumes of cash flows;
3. Long
insolvency company, because of low liquidity of its assets.
The
basic principles of crisis management are a constant readiness to respond.
According to the provisions of the better to prevent a crisis, rather than provide
neutralize the negative effects must realize internal capabilities out of the
crisis situation and, if necessary, use the appropriate form of sanitation
company to avoid bankruptcy.
Aims to
prevent bankruptcy should be [2]:
1.
Profit and provide an appropriate level of profitability;
2.
Providing liquidity and solvency.
There
are certain areas of activities that contribute to improving the efficiency of
business entities and prevent bankruptcy:
1.
Technological innovations;
2.
Efficiency of the equipment;
3.
Saving technologies;
4.
Competitive products;
5.
Employees;
6.
Organization and system;
7.
Management style that combines professional competence, efficiency and high
ethics of relationships between people, practically affects all areas of the
enterprise (organization);
8.
Infrastructure.
Regulating
bankruptcy is imperfect, and such statements are valid reasons.
The
main document that regulates the basic principles of bankruptcy is the Law of
Ukraine "On restoring the debtor's solvency or bankruptcy"
(hereinafter - the Law). The law very clearly revealed the issue of debtors
because Bankruptcy Law actually gives them the opportunity to restore solvency.
Firstly, yet provides a relatively short period of rehabilitation procedure and
there is no proper mechanism to implement it over a longer period. Second, the
claims of creditors arising from the adoption of a decision on a moratorium, it
does not apply. Thus, the initial debt has been growing steadily, sometimes
exponentially.
The
current bankruptcy law, particularly the law on bankruptcy does not perform
fully its economic function and its procedures rehabilitation does not become
effective mechanism for restoring the solvency of companies and of creditors.
Further delay the reform of the bankruptcy as a tool of redistribution,
artificial bring companies to insolvency in the future may lead to negative
consequences [4].
At the
present stage through the pre-crisis state of the national economy especially
acute need for measures to prevent bankruptcy. This requires the definition of
measures that will help advance predict bankruptcy, detect negative crisis and
implement anti-crisis policy management measures to prevent or overcome the
financial crisis.
References:
1.
Klebanov TS Bankruptcy and reorganization of enterprises: the theory and
practice of crisis management. H.: INZHEK, 2008. - 271 p.
2.
Nalyvayko AP Theory business strategy. Current status and directions of
development: Monograph. - K.: MBK, 2009. - S. 153-158
3.
Moskalenko, VP Integrated assessment of the financial condition of the
company as a basis to diagnose his bankruptcy / / Actual problems of economy. -
2006. - № 6. - S. 180 - 191
4.
Walsh K. Key financial indicators. Analysis and management of
enterprise: Guide: Educational edition: English. - K. Vseuvyto, New Print,
2001.