D.o.e.,
professor F.A. Moiseeva
A.V.
Sherbak
Donetsk
national university of economy and trade
named after
M. Tugan-Baranovsky, Ukrane
Economic characteristics of the financial result
The development of market relations in
Ukraine determines the necessity of more thorough treatment and management of
modern enterprise.
Making measured management decisions needs
reliable information about results of activity, that formed the context of the
enterprises entity and their organizational structure. This is due to the fact
that the main goal of every enterprise is sustainable of financial results that
are the result of reflection by all parties of any entity.
Financial result is generalizing index of
business activity. Profit, best known for a long time category, received a new
meaning in modern economic development and functioning of independent entities.
It is the main driving force of market economy that provides the interests of
the country, owners and personnel.
Only a clearly defined management system,
including all internal resources of the enterprise and the situation in the
market, can achieve the desired profit margins and its’ effective using.
A large number of scientists study the
financial result. Each of them has its own definition of this economic category,
look at some of them.
Thus Partyn H. determines financial
performance, as an increase or decrease in the capital of financial activity
for the reporting period, expressed in the form of total profit or loss [1, p..
69].
Slav'yuk R. interprets the financial
result, as a result of business enterprises or departments in the form of
financial indicators such as income (loss) and change in value of equity [2,
p.. 34].
Sheremed A. and Ionova A. give the
following definition: “financial results - is an increase or decrease of equity
capital of organization, formed in the process of its business during the
reporting period”[3, p.. 255].
The previous authors’ definitions of
financial results relate to changes in the cost of equity capital over a
specified period. This position allows to combine their definitions into a
common group.
In addition, here are other views on the
financial result.
Scientists Poddyerohin A., Vlasova N.,
Azarenkova G., GorodnyaT. give a similar definition of financial results, which
underlines that this is the result of economic enterprise. The definitions
given below.
Financial results for Poddyerohin A. - is the
economic result of economic activity in general and its divisions expressed in
monetary terms [4, p.. 87].
Financial result in the book Vlasova N.
“Finances” is defined as the final economic result of the enterprise as a
profit or loss [5, p.. 33].
Gorodnya T. determines the financial
result as a summary of economic production activities of economic entities,
expressed in financial form [7, p.. 89].
Shuliak P. has slightly different
definition of financial results than previous researchers. He believes that the
financial results of the organization during the reporting period is the
balance of income and expenditure [8, p.. 288].
Kovalev V. gives the following definition:
“financial results, as the final result of the economic entity means a profit
or loss and reflects the managers skill level of using of material, labor and
financial resources, and the accountants skill level of optimization the tax
base” [9, p.. 184].
Table 1
The
positions of researchers concerning the financial result
|
№ |
Researcher |
Position |
|
1. |
Partyn H., Slav'yuk R., Sheremed A., Ionova A. |
Financial result as an increase or decrease the equity capital of the
organization. |
|
2. |
Shuliak P. |
Financial result - is balance of income and expenditure. |
|
3. |
Poddyerohin A., Vlasova N., Azarenkova G., GorodnyaT. |
Financial results, as total economic activity of enterprise in the form
of profit (loss). |
|
4. |
Kovalev V. |
Financial result depends on the skill of using all available resources in
the enterprise. |
Based
on the above presented points of view of defining the essence of financial
results, you can group them by certain signs in four groups (Table 1).
Thus, we can
conclude that no single approach to definition the category of “financial
result”. Various scientists have their own
approaches to the characteristics of this index. But by highlighting the common
elements in each approach, you can define the general definition of financial
results and structure the position of researchers.
Literature
1. Партин Г.О. Фінанси підприємства: Навчальний посібник
/ Г.О. Партин. – К.: Знання, 2006 – 379с.
2.
Слав’юк Р.А. Фінанси підприємств: Навчальний посібник / Р.А. Слав’юк. – К.: ЦУЛ, 2002 – 450с.
3.
Шеремед А.Д. Финансы предприятий: менеджмент и аналіз6 Навч. посіб. / А.Д.
Шеремед – М.: Инфра-М ,2004. -538 с.
4. Савицька
Г.В. Економічний аналіз діяльності підприємства: Навч. посіб. / Г.В. Савицька.
– К.:Знання, 2005. -662 с.
5.
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Центр учбової літератури, 2007. – 271 с.
6.
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Знання-Прес, 2009. – 229 с.
7.
Городня Т.А. Економіка та фінансова діагностика: Навчальний посібник / Т.А.
Городня. – Львів: «Магнолія 2006», 2008 – 282с.
8.
Шуляк П.Н. Финансы предприятий: Учебник / П.Н. Шуляк. – М.: издательский дом
«Дашков и Ко», 2005. – 752 с.
9.
Коваленко Л.О. Фінансовий менеджмент: Навчальний посібник / Л.О. Коваленко. –
К.: Знання, 2008. – 483 с.