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The Financial Results of Small Enterprises and Features of their Formation
Ischenko N. A.

Ischenko, Nina A. (2020) “The Financial Results of Small Enterprises and Features of their Formation.” Business Inform 5:388–393.
https://doi.org/10.32983/2222-4459-2020-5-388-393

Section: Finance, Money Circulation and Credit

UDC 658.155

Abstract:
The article is aimed at highlighting the features of formation of financial results of small businesses. Approaches to defining the essence of the concept of «financial result» and the factors influencing the formation of financial results of the enterprise’s activities are considered and generalized. The procedure for forming the financial results of a small enterprise is defined. When considering the features of the financial performance of small businesses, it is identified that their incomes are decreasing and their costs are rising. This leads to an increase in the loss, and running at a loss is a sign of the crisis status of enterprise. The factors leading to strategic crisis, profitability crisis and liquidity crisis at enterprise are defined. The need to introduce anti-crisis management of enterprise in order to overcome the loss, as well as ensure sustainable development is substantiated. It is determined that the main role in the enterprise’s anti-crisis management system belongs to the wide use of financial stabilization mechanisms. It is determined that the financial stabilization of enterprise should be carried out according to the following stages: elimination of insolvency; restoring financial stability; changing the financial strategy to accelerate economic growth. According to the research results, it is advisable for small enterprises to apply effective, tactical and strategic financial stabilization mechanisms.

Keywords: financial results, formation of the enterprise’s financial results, revenues and expenses of enterprise, crisis of profitability, anti-crisis management of enterprise, effective mechanism of financial stabilization, tactical mechanism of financial stabilization, strategic mechanism of financial stabilization.

Fig.: 1. Tabl.: 1. Bibl.: 10.

Ischenko Nina A. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance, Banking and Insurance, Central Ukrainian National Technical University (8 Universytetskyi Ave., Kropyvnytskyi, 25006, Ukraine)
Email: [email protected]

List of references in article

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Bilyk, M. D., and Bilyk, T. O. Finansovi rezultaty diialnosti malykh pidpryiemstv: otsinka ta prohnozuvannia [Financial Results of Small Enterprises: Evaluation and Forecasting]. Kyiv: TOV «Pan Tot», 2012.
Blank, I. A. Upravleniye pribyliyu [Profit Management]. Kyiv: Nika-Tsentr, 2007.
Ishchenko, N. A. “Upravlinnia finansovym stanom pidpryiemstva ta napriamky yoho udoskonalennia“ [Enterprise Financial State Management and Ways of Its Improvement]. Ekonomika i finansy, no. 1 (2015): 56-61.
Mets, V. O. Ekonomichnyi analiz finansovykh rezultativ ta finansovoho stanu pidpryiemstva [Economic Analysis of Financial Results and Financial Condition of the Enterprise]. Kyiv: KNEU, 1999.
[Legal Act of Ukraine] (2000). https://zakon.rada.gov.ua/laws/show/z0161-00#Text
Podolska, V. O., and Yarish, O. V. Finansovyi analiz [Financial Analysis]. Kyiv: Tsentr navchalnoi literatury, 2007.
Savytska, H. V. Ekonomichnyi analiz diialnosti pidpryiemstva [Economic Analysis of the Enterprise]. Kyiv: Znannia, 2007.
Tereshchenko, O. O. Finansova sanatsiia ta bankrutstvo pidpryiemstv [Financial Rehabilitation and Bankruptcy of Enterprises]. Kyiv: KNEU, 2000.
Poddieryohin, A. M. et al. Finansy pidpryiemstv [Enterprise Finance]. Kyiv: KNEU, 2008.

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