FINANCIAL STATEMENTS AS AN ELEMENT OF THE ENTERPRISE MANAGEMENT SYSTEM

Abstract

The article considers financial reporting as a set of reporting forms compiled on the basis of financial accounting data in order to provide users with generalized information about the financial condition and activities of the enterprise, as well as changes in its financial condition during the reporting period in a convenient and understandable form. solutions. The purpose of the article was to formulate the role of financial reporting of enterprises in today's conditions, to reveal the problematic aspects of this issue and to determine the prospects for its development. Reporting is the basis of information support analysis of the financial condition of the enterprise, contributes to the unification of source information. Financial reporting is also necessary to introduce a common understanding of reporting indicators by external, including foreign, consumers. In the process of making quality management decisions by managers of enterprises at the same time qualitatively transforms the role and importance of financial reporting of these enterprises. In addition, financial statements are a link between the enterprise and the external environment. The purpose of the enterprise's reporting to external users in market conditions is to obtain additional financial resources in the financial markets. The responsibility for ensuring an effective link between the company and the financial markets lies with the financial managers of the top management of the company. Since the decisions of external users, other things being equal, are made on the basis of a limited range of financial statements, these indicators are the focus of the financial manager and are the final step in assessing the impact of management decisions on the financial condition of the enterprise. Among the external users of financial statements there are two groups: users who are directly interested in the activities of the enterprise and users who are indirectly interested in it. Financial reporting is a key factor in the infrastructure of a market economy, a transparent lever of communication. Thanks to this, managers at all levels are able to implement the strategy and tactics of enterprise development, which they lead.