Åêîíîì³÷í³ íàóêè/ 10. Åêîíîì³êà ï³äïðèºìñòâà
Post-graduate student
Kostetska I.I.
Lviv National Agrarian
University, Ukraine
Influence of business planning on the financial position of enterprises.
In
the transition to a market economy material and moral responsibility of
managers of businesses for their financial state is increasing. The financial
state of enterprises depends on their production and financial activities,
which is largely determined by the level of control in them.
Enterprises that operate in market conditions are fully responsible for the
results of production and financial activities. Ability of repaying its debt
obligations in time characterizes its financial state.
The financial state of the enterprise is the level of provision by appropriate
financial resources necessary for effective economic activity and timely
payments according to their liabilities.
Every enterprise tries to achieve a stable financial state, that is to
create sufficient financial resources, which guarantees timely payments to
suppliers, budget and other links of the financial system, further economic and
social development of the enterprise.
The aim of the estimation of enterprise’s financial state is to seek
reserves for increasing it’s profitability and solvency.
The main indicators that characterize the financial state of the enterprise
include:
·
Profitability;
·
Optimal allocation of profits;
·
Optimum size of their current
assets, which provide the normal process of production and realization of
production;
·
Our own sources of current
assets in the amount sufficient to cover them;
·
Solvency of the enterprise [1,
p. 275-276].
One of the important features of the enterprise’s financial state is it’s
financial stability, which indicates the possibility of the stable activity in
the future.
When talking about the
financial stability we mean the provision of reserves and expenditures with
funds for it’s formation.
Thus, the analysis of financial stability indicators should give
qualitative and quantitative characteristics of enterprise arrears and show how
it influences its activity in the future. For the analysis of financial
stability different factors are being used.
It
is also necessary to determine what part in the structure of capital is credit
indebtedness for goods, works, services, arrears of salaries, and bank loans.
Increasing of credit indebtedness for goods, works, services, as well as arrears
of salaries is considered a negative phenomenon. The use of bank loans by
agricultural enterprises is objectively necessary.
One of the major economic problems in the transition to a market is to
determine the boundaries of enterprise’s financial stability. Optimal
coefficient of financial stability should vary within the following limits: Kf.s.
= 0,85 - 0,90 [106].
Lack
of financial stability may lead to enterprise’s insolvency and lack of funds
for development and activity of business in general.
Excess financial stability also negatively influences the production and
trading activities, as it is the hindrance of its development, increasing the
costs of the enterprise by surplus supplies and reserves.
From calculations carried out in Zboriv district, Ternopil region, we found
that only three enterprises of the district have adequate financial stability,
five companies - surplus and the remaining nineteen - lack of financial
stability.
Stability indicators characterize economical efficiency of plans. This
characteristic will be more accurate if it includes indicators of economic estimation
of business management planning system and its elements. These indicators can
be output, land use, production of gross and commodity output, productivity and
wage, return costs, income, level of profitability.
In our view, financial stability must be characterized by such state of financial
resources that would meet the market requirements and simultaneously satisfy
the needs of enterprise development.
An example of a combination of prospective and current planning is a
business plan.
It’s
preparation is needed to determine the scope and funding strategy, attracting
of specific investors for the participation in the creation of new enterprises or
the financing of new production programs.
Drafting a business plan is important for companies if they lack their own
financial resources in order to financing project or for bank in order to the
receiving loans.
Therefore,
we offer entrepreneurs to expect the financial stability of businesses. It will
help them estimate the situation and reflect it in the section of business plan
"financial plan".
Literature:
1.
Filimonenkov O.S. Enterprise finances:
Teach. Manual. - 2 nd ed., Revised and Abstr. - K.: IAMP, 2004. - 328 pp.: Ill.
2. Technique of
integral estimation of investment attractiveness of companies and
organizations: Satisfied by the Agency for the prevention of bankruptcy of
February 23, 1998 ¹ 22 / / State. Inf. Bul. On privatization. - 1998. - ¹ 7.
3. Lakhtionova L.A. Financial analysis of business entities: Monograph. -
K.: 2001. - 387 pp.