Overcoming ambiguity in assessing the financial sustainability of Crimean hospitality companies for anti-crisis management

The subject of the research is the system of methods of nancial management of a company, in which a contradictory situation of conict of goals of its development has developed, with the obligatory occurrence of systemic crises on the one hand, and the rule of constant preservation of a low risk of nancial destabilization, on the other. The relevance of the study is due to the signicant distance of system analysis in its categories from strategic nancial analysis. Systemic destabilization of active investment outwardly looks the same as the end-of-life bankruptcy crisis, which signicantly distorts the perception of potential investors in the industry in general. The scientic novelty lies in the substantiation of a method that makes it moving from a simple identication of the transitional (crisis) development stages of an unstable system (company) to the substantiation of the parameters of a strategic program, including within the framework of anti-crisis management. The aim of the research is to adapt analysis methods of the system’s crisis states to the provisions of the most system-oriented nancial analysis techniques have being applied to disclose the unstable states of the “system-enterprise”. The system analysis has been chosen as the research method in various areas of its manifestation: from a general philosophical description of unstable system with characteristics of a company’s life cycle to a model for assessing the company’s nancial stability for strategic purposes. The result of modeling the nancial condition of such unstable companies taking into account provisions of the system analysis, was the formulation of a new category of strategic nancial management — the Strategic zone for the nancial stability transformation, which serves as the basis for a long-term program for the transformation of the nancial condition. As a conclusion, it can be noted that applying of the nancial analysis method for strategic purposes (“Fregat” model) in a single connection with the system analysis provides the possibility to identify the most dangerous crises from the standpoint of the identication complexity and consequences of the cochirid stage crises of the system development. Also, this allows to separate the investment (justied) destabilization from instability which could be the cause of wrong actions of the company’s management. All this makes it possible to objectively assess the macroeconomic indicators of the hospitality industry in general.