Directions of improving the efficiency of business activity of the enterprise

Васечко, Людмила Іванівна (2021) Directions of improving the efficiency of business activity of the enterprise European scientific journal of Economic and Financial innovation (2(8)). pp. 4-19. ISSN 2617-863X

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Abstract

The article is devoted to the study of problems of business activity as a comprehensive description of the efficiency of enterprises, the study of management of receivables and payables of enterprises and outlining the main directions of improving the efficiency of business activity of the enterprise.The article presents a more detailed scheme of receivables management, consisting of such interrelated stages as the choice of credit policy of the enterprise, analysis and assessment of the current state of receivables, the formation of credit conditions, determining the possible amount of working capital directed to receivables on credit, a comprehensive approach to customer evaluation.The algorithm of actions which is directed on strengthening of work on collection of receivables is represented in the form of the scheme. In order to correct the existing distortions in the relations of mutual payments between the enterprise and other business entities, it is proposed to introduce a number of appropriate measures in the process of receivables management.The basic principles of management of accounts payable of the enterprise are defined, among which correctness of a choice of the form of debt for minimization of interest payments on purchase of material values; establishing the most convenient form of bank or commercial loan and its term; preventing the formation of overdue debt.It is revealed that an important element of accounts payable management is its correct and timely analysis, so the management of the enterprise must have prompt and objective information on the status of accounts payable, which is formed in the accounting system; that the main sources of such information are: the balance sheet, statement of financial performance, notes to the annual financial statements, primary documents, journals, which reflect the movement of relevant payments, as well as estimated information on the calculation of wages. It is recommended to conduct an audit of accounts payable, the results of which will identify all deviations in the structure of debt, to develop measures to regulate it, because it negatively affects the activities of the enterprise. The main directions of improvement of efficiency of business activity of the enterprise offered in article are perspective and are characterized by a practical orientation.

Item Type: Article
Uncontrolled Keywords: enterprise; business activity; receivables; payables.
Subjects: Це архівна тематика Київського університету імені Бориса Грінченка > Статті у наукометричних базах > Index Copernicus
Divisions: Це архівні підрозділи Київського університету імені Бориса Грінченка > Кафедра фінансів та економіки
Depositing User: Людмила Іванівна Васечко
Date Deposited: 08 Dec 2021 13:23
Last Modified: 08 Dec 2021 13:23
URI: https://elibrary.kubg.edu.ua/id/eprint/39418

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