FINANCIAL PLANNING AT THE ENTERPRISE: ESSENCE, PROBLEMS AND OPTIMIZATION

Abstract

The article noted that in the current conditions of economic recession and fierce competition, enterprises have an increasing need for rational financial planning of their activities. The main problems of financial planning, which lead to significant economic losses and miscalculations, are studied. It was concluded that financial planning can become a tool that will contribute to economic growth and relative security of enterprises. Effective financial planning is critical to the success of any organization. Existing businesses face unique challenges in today's environment. Increasing the level of dynamism of the external environment, complicating the internal conditions of the enterprise's functioning increase the requirements for the level of management, requiring the search and introduction of progressive approaches. Very often, the planned balance sheet is not formed at the enterprises and its structure is not analyzed, the dynamics of changes in financial stability and liquidity are not predicted. The absence of such an analysis at the stage of long-term planning significantly reduces its effectiveness as a tool for enterprise management. The financial plan will become a real tool of company management only when its implementation can be promptly monitored. Ignoring this condition leads to an underestimation of the available market factors and to a sharp decrease in profitability and even unprofitability, and ultimately to financial collapse - bankruptcy of the enterprise or its individual commercial projects. Financial planning is an important prerequisite for successful business operations. It forms the image of the business entity, is its business card, therefore enterprises and organizations must constantly take care of financial stability, take measures to strengthen it. Financial planning should be a comprehensive tool aimed at optimizing the use of financial resources of the enterprise. The report proposes the ways to optimize planning decisions through the formation of a financial strategy and a financial plan of the enterprise and the results of optimization.