Open AccessThe structure of the enterprise’s financial management
Author(s) -
Olena Brovkova,
Kovalova Hanna
Publication year - 2021
Publication title -
ekonomìka, fìnansi, pravo/ekonomìka. fìnansi. pravo
Language(s) - English
Resource type - Journals
eISSN - 2786-5517
pISSN - 2409-1944
DOI - 10.37634/efp.2021.2.2
Subject(s) - enterprise planning system , enterprise life cycle , business , enterprise software , financial management , strategic financial management , accounting management , enterprise information system , enterprise relationship management , finance , process management , accounting , marketing , strategic planning , accounting information system , customer retention , service quality , service (business)
The paper considers in detail the structure of financial management of the enterprise. The possibility of survival and effective development of the enterprise in dynamic and often unfavorable environmental conditions is determined by how competent managers are in matters of financial management. Skillful management of three processes – current operation, continuous improvement, radical development – determines the effectiveness of enterprise management. Financial management is a very important process of any enterprise in the process of capital movement. The paper considers the main definitions and principles of using financial management sub-processes in the management of a modern enterprise, as well as highlights the relationship of these sub-processes in the appendix to the activities of the financial manager. The principle of financial stability is characterized by such activities of the enterprise through which it could at any time, to settle their debts with their own or borrowed funds. Making a profit (the most key measure of financial efficiency of the enterprise) – getting a positive difference between the total income of the enterprise and its costs (in monetary terms). The scientific prerequisite for financial management is a fairly high level of development of economics. The activity of any enterprise is not possible without the management of facilities or processes (personnel management, operations management, etc.). Thus, any enterprise can be represented in the form of two subsystems – managed and control.