Peculiarities of Financial Resources Management System of Industrial Enterprises

Abstract

Financial resources are the basis of any enterprise functioning. Their formation and use should be based on an effective management system that takes into account the general principles of building management systems as well as the specifics of managing financial resources. The analysis of scientific literature has shown that there is a constant search for approaches to the formation of such systems and their constituent elements. The purpose of the article is to build a system for managing financial resources of industrial enterprises according to the peculiarities of their activities and sources of financing. With the help of scientific generalization, the essence and main constituent elements of the enterprise’s financial resources management system, their differences from the general management system have been determined. Based on the use of the systems approach, a comprehensive assessment of the current state of financial resources of industrial enterprises of Ukraine has been carried out. The use of correlation-regression analysis made it possible to define how the sources of financial resources of industrial enterprises affect the level of their net profit. The study has shown that the financial resources of Ukraine’s industrial enterprises are mainly formed at the expense of current liabilities, namely at the expense of accounts payable. The state of settlements with the enterprise’s debtors directly affects the timeliness of accounts payable repayment. The main characteristics of the accounts payable management process are provided, and it is proposed to separate accounts payable and accounts receivable as important components of the management object in the managed subsystem of the financial resources management system of industrial enterprises. As subjects of management, it is proposed to single out all subdivisions related to the formation and distribution of financial resources of industrial enterprises, and the main tasks are set for each of them to perform. The obtained results can be the basis for practical use by managers of enterprises, will increase the efficiency of management, and can also be the basis for conducting further research on the formation of financial resource management systems of enterprises in other industries.