YDK - 65
Voloshyna A.V.
Scientific adviser:
Chernenko T.V.
Bukovina State Financial Academy
Financial Management
Recent changes in economy and financial relations of Ukraine, application of the new managerial principles on the bases of market relations, the development of the business initiative and entrepreneurship – all require the fundamental change of the state
managerial functions. A financial management can be presented in the type of
the system of the rational and effective use of capital, mechanism of traffic
of financial resources. So, the present paper deals with the crucial problem on
financial management, as national economy cannot exist without financial
management that is provided owing to financial control.
The
purpose of financial resources, as O.N. Kovaljuk says, is providing the wide
reproducing and satisfying the needs
and wants of the society, that is why every citizen and state are interested in
effective using of these resources. So the necessity in financial resources
managing is required [1,
p. 42]. The actuality of financial management problem lies in the present
necessity of creating the perfect system of financial management in Ukraine for
providing the financial discipline during the reforming of the economy that can
become the guarantee of future state reforms.
The
problem of financial management is studied by many Ukrainian economists: O.D.
Vasylyk, A.O. Epifanova, O.P. Kyrylenko, E.V. Kaljuga, V. Mel’nichuk,
I.B. Stefanjuk, V.O. Shevchuk and others.
L.
Feschenko mentions that the purpose of the financial management is the strengthening
of the financial discipline, providing the saving of the financial, labour and monetary
resources, and appropriate, reasonable using of the capital by the society to
get the effectual result [2].
I.
Stefanjuk defines the term “financial management” as the system of the active
actions provided by the government authorities, local authorities, economic
agents and the citizens of Ukraine to follow the functioning of any managerial
object during the formation, distribution and using of financial resources on
purpose to evaluate the economic management efficiency, to detect the
deviations that prevent legal and effective using of assets and capital,
manufacturing, satisfying government, collective and private wants and needs,
and improving the management of economy [3, p.28-29].
The
legal basis for providing financial control is the Constitution of Ukraine,
where the principles, rights and duties of the state authorities and public
organizations are defined. The main enactments that control the sphere of
financial management are the laws of Ukraine “On State Tax Service of Ukraine”,
“On State Control and Revision Service of Ukraine”, “On Auditing Activity” [4, p.24-34; 5, p. 15-17; 6, p. 23-26].
Financial
management is one of the main functions of control aimed at detecting the
deviations from legal standards, expediency and efficiency of management of
financial resources and other assets, and if the deviations are detected
financial control aims at taking precautions.
The
role of financial management systems as knowledge and skills on the choice of
management solutions to increase business value, increased significantly.
Knowledge of financial management is now necessary not only financiers but also
the head of marketing, production units etc.
So,
financial management is the main element of the management activity,
organizational direction, and one of the forms of realizing the state and
private decisions.
Bibliography:
1. Kovalyuk O.M.
Role of control in the financial mechanism of economy / O.M. Kovalyuk //
Finances of Ukraine – 2008.
2.Feschenko L.
Funkcional structure of the state financial checking system in Ukraine / L.
Feschenko // banking – 2001 - #1 - p.12.
3. Stefaniuk I.B. Financial
control: definition and system / I.B. Stefaniuk // Economics. Finance. Right. -
2007.
4. About Auditing: The Law of
Ukraine from 04.22.1993, ¹ 3125-XII / / Voice of Ukraine.
5. About State Control and
Revision Service of Ukraine: the Law of Ukraine from 01.26.1993.
6. About State Tax Service of
Ukraine: the Law of Ukraine from 24.12.1993, ¹ 3813 - XII.