ASSESSMENT OF THE FINANCIAL CONDITION OF THE MACHINE-BUILDING ENTERPRISE FOR THE PURPOSE OF INCREASING THE EFFICIENCY OF ITS FUNCTIONING
Abstract
The article is devoted to issues of practical assessment of the financial condition of the machine-building enterprise. It is established that the assessment of the financial condition of the enterprise is defined as the analysis of financial statements and plays an extremely important role, as the data obtained and researched are the basis for management to make effective decisions on operational, financial and investment activities. The main areas of financial evaluation of the enterprise are: assessment of financial stability, analysis of liquidity and solvency, analysis of financial results and profitability. The information basis of financial evaluation is the financial statements of the enterprise for a certain period. The researched Public Joint-Stock Company «Kryukovsky railway car building works» is one of the largest manufacturers of railway equipment in the Commonwealth of Independent States. The main activity of PJSC «Kryukovsky railway car building works» and its subsidiaries is the production of freight, passenger railway cars, subway cars, escalators, high-speed electric trains, container products, as well as a wide range of spare parts and components for freight and passenger cars, for the subway and all special industrial types. An assessment of the financial condition of the Public Joint-Stock Company «Kryukovsky railway car building works» was done by constructing analytical tables and calculating the main coefficients. We identified the main shortcomings in the functioning of the enterprise and developed ways to strengthen its financial position. It is established that the company has a fairly stable financial condition. However, the global COVID-19 crisis had an extremely negative effect on the functioning of the enterprise and was one of the main factors that caused sharp decrease in net sales income and, accordingly, net profit, of the Public Joint-Stock Company «Kryukovsky railway car building works» in 2020. To strengthen the financial condition of the enterprise, it is necessary to increase sales, modernize production equipment, more actively attract profitable long-term financial resources, improve staff skills, attract young professionals to work, actively promote its products and services, reduce production costs through new technologies and increase productivity, etc.
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