The paper investigates the features of constructing a balanced score card (BSC) for assessing the implementation of financial planning at the enterprise. In the course of this study, we identified ...and formed three groups of indicators, namely indicators that reflect: an asset and a passive enterprise, taking into account the assessment of its financial status; the effectiveness of planning the income, expenses and net financial results of the enterprise; the quality of the formation and use of the financial plan of the enterprise in terms of cash flow. At the same time, in order to carry out a thorough assessment of the formation of the system of financial planning of the enterprise, it is necessary to comprehensively evaluate the values of all the groups of indicators, in particular, it is necessary to make such managerial decisions that will contribute to maintaining the balance of the system. Prospects for further development on this issue will be the development of a system of balanced coefficients for the development, implementation and analysis of the implementation of the financial plan at the enterprise.
The article is aimed at researching the status of organization, methodology, and information support of economic analysis of the financial potential of forestry enterprises. It is determined that the ...financial potential of forestry enterprise is the object of management and economic analysis. Founding documents and internal regulations of enterprises were tested to determine particularities of the organization of activity and management of forestry enterprises. The testing of financial plan of the researched enterprises testifies to fragmentation of economic analysis of financial potential. The analysis of indicators by the financial potential of forestry enterprises, contained in the financial plans, was carried out. It has been determined that the structure of financial plan of forestry enterprises can be represented as the following structure of indicators: formation of financial results; settlements of budgetary payments; movement of monetary means; capital investments; coefficient analysis; financial plan information.
The article studies theoretical aspects of the process of realisation of financial planning of the bank’s activity and identifies and justifies its six main stages: 1) goal formation stage; 2) ...preparation stage; 3) assessment; 4) financial plan approval; 5) financial plan execution, and 6) stage of the financial plan monitoring, control and adjustment. The above sequence of stages of the process of realisation of financial planning of the bank’s activity allows a trustworthy assessment of the bank’s activity environment, formation of specific goals and tasks of the bank’s activity, and also to determine the ways of their achievement, and so on. The result of the process of realisation of financial planning of the bank’s activity is the bank’s financial plan, which is proposed to divide into four sub-sections: plan of the bank’s assets and liabilities; plan of the bank’s receipts and expenditures; plan of the bank’s cash flows; and plan of forecast values of basic financial indicators of the bank’s activity.
Financial planning of state-owned enterprises as a management function ensures the formation, use, structuring and evaluation of resources for a year. To ensure the achievement of sustainable ...economic development of state enterprises, the substantiation of the concept of planning economic activity, the development of methodological and organizational approaches to the process of drafting financial plans is relevant. The purpose of the article is to substantiate the theoretical and practical principles of organization of planning economic activity as an element of economic policy at state-owned enterprises in the system of strategic management. Taking into account the unprofitable activity of most state enterprises of Ukraine, the methodical principles of financial planning are updated due to the possibility of ensuring the functioning of the enterprise by the available resources (financial and material). The article describes the organization of financial planning of economic activity of state enterprises in Ukraine and the procedure and structure of its formation and presentation. It also highlights the use of the concept of strategic management, which eliminates the extrapolation of past events, but indicators of which are calculated on the basis of trends of the enterprise, market and industry development, patterns, risks, assumptions. The methodical aspects of planning under the conditions of non-profitability or profitability of enterprises are described, which is the basis for determining the potential of the enterprise in terms of segments (types of activities). It is proposed to implement procedures for amending the approved financial plans on the basis of good reasons for compelling reasons, which are briefly formulated. Economic conditions that are appropriate to take into account when considering and approving economic policy for the implementation of financial planning are recommended and their content is disclosed. Methodical techniques of financial planning of economic activity, using flexible planning, introducing a threshold for making changes to financial plans, foreseeing a new section in the explanatory note “Changes to the financial plan” are proposed.
The research evaluates and applies a business plan to the company "Total Security" in order to strengthen the corporate image, in the first instance the company is evaluated to detect its strengths, ...opportunities, weaknesses and threats (SWOT). Objetive: The study is carried out under the support of the state of the art, which is the fundamental basis for the practical proposals that the research makes, where the evaluation and application of a business plan model for the Total Security company is determined as a strategy for the strengthening of the corporate image. Methodology: The research carried out is qualitative and quantitative descriptive, with a non-experimental-longitudinal design, the collection of information was allowed through techniques such as surveys applied to all the actors of the company throughout the monitoring, monitoring, application and monitoring of the business plan that allowed us to analyze the changes in the evaluated variables. Results: It can be seen that the organizational plan considerably improves the functions and responsibilities that employees perform, as well as the marketing plan helps to develop the corporate image of the company, the application of these plans must be strict in their compliance to obtain expected results. Conclusions: it can be affirmed that the application of a business plan strengthens the corporate image of the company, however, the financial plan does not determine the efficiency of the company.
La investigación evalúa y aplica un plan de negocios a la empresa “Seguridad Total” con la finalidad de fortalecer la imagen corporativa, en primera instancia se evalúa la empresa para detectar sus fortalezas, oportunidades, debilidades y amenazas (FODA).Objetivo: El estudio se desarrolla bajo el sustento del estado del arte, que es la base fundamental a las propuestas de carácter práctico que la investigación formula, en donde se determina la evaluación y aplicación de un modelo de plan de negocios para la empresa Seguridad Total como estrategia para el fortalecimiento de la imagen corporativa. Metodología: La investigación realizada es cualitativa y cuantitativa descriptiva, con un diseño no experimental- longitudinal, se permitió la recopilación de información a través de técnicas como las encuestas aplicada a todos los actores de la empresa a lo largo del acompañamiento, monitoreo, aplicación y seguimiento del plan de negocios que nos permitió analizar los cambios en las variables evaluadas. Resultados: Se puede constatar que el plan organizacional mejora considerablemente las funciones y responsabilidades que los colaboradores desempeñan, así como el plan de marketing ayuda al desarrollo de la imagen corporativa de la empresa, la aplicación de estos planes debe ser estrictos en su cumplimiento para obtener resultados esperados. Conclusiones: se puede afirmar que la aplicación de un plan de negocios fortalece la imagen corporativa de la empresa, sin embargo, el plan financiero no determina la eficiencia de la empresa.
This paper aims to clarify the main aspects of how a well prepared business plan can lead to success or failure of a new or existing business. In this context are presented obtaining business ...financing, its typology and structural elements that must be included in order to carry out the purpose for which it was created.
Financial planning within a company represents one of the basic activities of a company as well as a very demanding activity of the financial manager. Based on the main principles of economy and data ...from the previous periods (especially main financial statements – balance sheet, profit and loss, cash-flow statement) the future development of the given company is predicted. Different mathematical and statistical models and methods including statistical, causal and intuitive methods are used to carry this out. Some models, such as artificial neural networks, represent a very efficient method for prediction. The article identifies company revenues as the initial indicator in setting a compan´s financial plan. Multilayer perceptron neural networks are very often used for their prediction. Information on Hornbach Company´s Profit and Loss Statement from the period of 1999 to 2015 is used as input data. A total of 1000 artificial neural networks is generated, out of which 5 most appropriate are maintained. Sensitivity analysis is also carried out. The contribution finally states that in practice, the suggested neural structures are useful for compiling a company financial plan which is always derived from the amount of sales.
Currently, innovations seem to be a crucial process in companies in order to at least maintain or even improve their competitiveness. Strengthening global competition puts the stress on continual ...improvements in every sphere of business entity’s activities. This way, innovations are the almost only tool to maintain customers, subsequently to keep the place on a market or the market share, and then to sustain the financial performance of a company. It means that effect of innovations is closely connected with the financial performance of a business entity that can be measured with various methods or approaches while the financial analysis ratios are supposed to be basic ones. In order to interpret the results of these financial ratios, different bases are used when the base of financial plan is one of them. The objective of this article is to determine the economic effect of innovations on financial performance of small and medium-sized enterprises in the Czech Republic on the base of simplified financial plan. Obviously, starting-point of the financial plan preparation is the plan of sales. Sales represent one of the company’s value generators, and sales projection is constituted as basis of authors’ approach to determination of effect of innovations on financial performance of business entities while basic categorization of companies according to the business branch (CZ NACE), sphere of innovation and innovation’s degree is applied.
The Operational Programme Environment (OP Environment ) contributes to the implementation of the 3rd priority of the National Development Plan 2007-2013, "Protecting and improving the environment," ...takinginto account the social, economic and environmental needs in Romania, so as to achieve sustainable impact onenvironment and stimulate economic development. From the international perspective, it is based on the EUSustainable Development Strategy and the 6th Environmental Action Programme. It is designed to contribute tothe achievement of the thematic priority of the National Strategic Reference Framework, namely thedevelopment of infrastructure at European standards.The OP Environment is fully consistent with the priorities established in the Strategic Guidelines forCohesion Cohesion Policy, especially those aimed at increasing the attractiveness of Member States, regionsand cities and to strengthen the synergies between environmental protection and economic growth.
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