IMPROVING FINANCIAL PLANNING AS A WAY TO INCREASE THE ECONOMIC RESILIENCE OF AN ENTERPRISE
Abstract
The article is devoted to the study of ways to improve financial planning in order to increase the economic resilience of the enterprise. This topic is relevant due to the growing negative impact of uncertainty on financial planning in Ukrainian companies. Based on the analysis of scientific sources, shortcomings in the financial planning system at Ukrainian enterprises are identified. A systematic approach to financial planning at enterprises is proposed, in particular through the analysis of the external and internal environment and the further development of a long-term, medium-term and annual financial plan, and the principles and algorithm for developing these plans are also given. Special attention is paid to the methods and stages of developing a company's budget, as well as measures aimed at increasing the efficiency of the budgeting process. The necessity of identifying and controlling key assumptions underlying all financial plans is emphasized. A method for reducing the negative impact of uncertainty on the financial plans of an enterprise is investigated, in particular through scenario analysis and the use of weighted average indicators. The possibilities of adjusting financial plans based on the actual results obtained in rapidly changing business conditions are studied. The “rolling forecast” method is proposed, which extends the forecasting horizon and allows earlier identification of trends and the development of managerial decisions. The essence of the “dynamic financial plan” method is revealed, the advantage of which is the ability to adjust the financial plan and make changes to the company’s policy with the necessary periodicity or under the influence of significant events. The possibilities of using artificial intelligence to improve financial planning at enterprises are analyzed, in particular in such processes as forecasting, budgeting, automation of accounting and auditing, strategic planning and scenario analysis, financial planning and analysis, risk management. The practical value of the article lies in the possibility of applying the identified principles and methods of improving financial planning by Ukrainian enterprises to increase their economic sustainability.
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