BASIC ASPECTS OF FINANCIAL PLANNING ARE IN SYSTEM OF FINANCIAL SAFETY OF ENTERPRISE

Keywords: financial planning, financial safety of enterprises, financial firmness, economic planning, optimization of the planned decisions

Abstract

The article notes that the successful enterprises’ development in modern economic conditions depends on the continuous improvement of the financial planning system of their activities. It is carried out by accumulating domestic and foreign experience, new concepts developing, methodologies and approaches that take into account modern business conditions. The financial risks’ impact on the enterprise performance further leads to a decrease in financial stability and the threat of bankruptcy. It is proposed to apply in the process of financial planning at the enterprise a comprehensive approach concerning its financial security assessment. This should include an assessment of the financial condition of the enterprise, an assessment of the security level of the functional components of financial security and an assessment of financial risks. It is proved that it is necessary to include the investigation of the information base, the indicators system formation to assess the level of financial security, analysis of the enterprise financial condition, financial risk assessment when conducting a comprehensive assessment of the financial security of the enterprise. External factors of the influence that impact the level of financial security of the enterprise and reflect the economic situation in the country and abroad have been investigated. Internal factors of the influence that reflect the financial condition of the enterprise and the level of financial risks of the enterprise have been investigated. It has been proposed to use a system of indicators of business activity of the enterprise, profitability, financial stability, liquidity, solvency in the process of the enterprise financial condition planning. Financial planning methods at the enterprise have been investigated. The financial security management strategy of the enterprise has been investigated. The connection of the financial security management strategy with the general strategy of enterprise development, legislative regulation of the activity, the state of the market, the current economic and political situation has been given. The financial security management strategy of the enterprise, which includes efficient use of resources, ensuring financial security of the enterprise, identification of investment directions and financial risk management, has been investigated.

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Published
2020-12-15
How to Cite
Grischenko, I., & Grinchuk, T. (2020). BASIC ASPECTS OF FINANCIAL PLANNING ARE IN SYSTEM OF FINANCIAL SAFETY OF ENTERPRISE. Economy and Society, (22). https://doi.org/10.32782/2524-0072/2020-22-14
Section
FINANCE, BANKING AND INSURANCE