Bankruptcy mechanism: results of its action in Ukraine.

Bankruptcy mechanism: results of its action in Ukraine.

The effectiveness of the use of such mechanisms is confirmed by foreign practice (Poland, Slovakia, Hungary, etc.) – it avoids social explosions caused by bankruptcy.

World practice has shown that the effectiveness of the bankruptcy mechanism, provided that all the necessary “tools” are high. However, the same practice has developed a number of requirements, without which this procedure is transformed from health to punitive.

These include such as a sufficiently developed economy, more or less stable financial situation, the availability of appropriate legal framework, sound investment policy and the presence of investors themselves, developed a system of health and anti-crisis tools adapted to the economy, the presence of highly qualified anti-crisis managers. It is especially important to use this institution in combination with other means: investment, government regulation and support.


Law of Ukraine “On restoring the solvency of the debtor or declaring him bankrupt” from 30.06. 99 No. 784-XIV. Third party V. With bankruptcy something is not as it should be … // Accounting – №12 (427) – 2001 – p. 8. Sydoruk S. You may not be bankrupt … // Galician contracts – №22 – 2000 – p. 10-12. Prilipko Y. Trends in the financial condition of enterprises (results of 1999) // Securities of Ukraine. – №29 – 2000 – p. 12. Volchenko A. Unresponsible. // Business – №13 (376) – 2000 – p. 29. Vargich S. Reforming property through bankruptcy. // Securities of Ukraine. -№9 – 2000 – p. 6-7.Vargich S. The mechanism of bankruptcy: the results of its action in Ukraine. // Securities of Ukraine. -№8 – 2000 – p. 4-5.Tretyak O. On the problem of bankruptcy of enterprises. // Economy of Ukraine – №2 – 2000 – p. 46-49. Gavrilova NS Institute of Bankruptcy: a new stage of formation. // Russian Economic Journal – №8 – 2000 – p. 87-89. Tychino S., Pushkar S., Shapiro S., Obrusova I. A new answer to old questions. // Financial consultation – # 49-52 – 1999 – p. 11-48 /prilozhenie/.Vargich S. The bankruptcy mechanism will correct the distortions in privatization. // Securities of Ukraine – №45 – 1999 – p. 6-7.Vargich S. Atnibanrutne management in Poland. // Securities of Ukraine – №41, 42 – 1999 – p. 16-17, 18-19 Vargich S. The law that “will treat sick enterprises”. // Securities of Ukraine. – №38 – 1999 – p. 5-7. Polozenko D., Vargich S. Rehabilitation of insolvent enterprises: its forms and ways of improvement. // Securities of Ukraine – №26 – 1999 -p. 16-17. Polozenko D., Vargich S. Bankruptcy and ways to overcome it. // Bulletin of the NBU – №10 – 1999 – p. 59-63. Vargich S. Bankruptcy: some problems of legislative regulation of debt repayment by bankrupt enterprises. // Securities of Ukraine – №10 – 1999


Economic analysis: functions and classification, methods and information base. Abstract

Functions and classification of economic analysis. Methods of economic analysis. Information base of economic analysis

Functions and classification of economic analysis

Based on the general theory of management – enterprise management is the purposeful influence of the control system on the managed object to achieve the goal. In the field of control patterns are found statistically, in other words, the calculated values ​​are not true in each case, but only on average, with multiple repetitions with the same source data.

Moreover, the mathematical expressions used to perform calculations in solving control problems are not exact formulas, but mathematical models that reflect the studied phenomena only approximately with some accuracy (usually low) and probability (reliability). The obtained results cannot be trusted unconditionally, because the mathematical model, even very successful and accurate for certain conditions, is unsuitable for other changed conditions.

The development of special methods of economic analysis is based on a scientifically sound classification of its types, due to the needs of management practice. The classification of types of economic analysis is based on the classification of management functions, as economic analysis is a necessary element of each function of economic management.

A developed market economy gives rise to the need to differentiate analysis into internal management and external financial analysis. Internal management analysis is an integral part of management accounting, ie information and analytical support of the administration, management of the enterprise.

External financial analysis – an integral part of financial accounting, which serves external users of information about the company, acting as independent subjects of economic analysis according to, as a rule, public financial statements.

The management function is a special type of management activity, a product of specialization in the field of management. Control functions are classified into general, or main, functions that reflect the content of the control process itself, and specific functions that reflect various control objects.

The relationship between general and specific control functions is that general functions cannot be performed by themselves, without an application and any control object, and any specific control function of any object can be performed only using common functions.

The general, main functions of economic management, or, as they are sometimes called, the main functions of economic activity, can be defined as follows:

1) information management (collection, processing, organization of information about economic phenomena and processes); 2) analysis (analysis of the results of economic activity, assessment of its success and opportunities for improvement on the basis of scientifically sound criteria); 3) planning (forecasting, long-term and current planning of the economic system); 4) the organization of management (organization of the effective functioning of certain elements of the economic mechanism in order to optimize the use of labor, material and monetary resources of the economic system); 5) control (control over the implementation of business plans and management decisions).

The first two general functions reflect, as it were, the technological stages of management, which are reduced to informational and analytical support of the decision-making process. Decision-making itself is carried out in the form of management functions that reflect the temporary stages of management: planning, organization of management and control. Thus, economic analysis and other types of management activities that reflect the first function (accounting, statistics) are such management functions that immanently belong to all other general and specific management functions.

According to the content of the management process there are: prospective (forecast, preliminary) analysis, operational analysis, retrospective analysis of the results of activities for a particular period. This classification of economic analysis corresponds to the content of the main functions that reflect the temporary stages of management:

1) the stage of preliminary management (planning function); 2) stage of operational management (function of management organization); 3) the final stage of management (control function).

All these three types of analysis are present in the processes of business management. The current analysis has received the greatest development, especially in primary self-supporting links of a national economy (the enterprises, industrial associations).

In the special literature the classification of types of the economic analysis is not limited to two main signs on the maintenance of process and objects of management. In the works of AD Sheremet it is proposed to classify the types of economic analysis, in addition, by:

subjects, ie who conducts the analysis (management and economic services, owners and bodies of economic management, suppliers, buyers, audit firms, credit, financial bodies); periodicity (periodic annual, quarterly, monthly, decade, daily, variable analysis and one-time, non-periodic analysis); content and completeness of the researched questions (full analysis of all economic activity, local analysis of activity of separate divisions, thematic analysis of separate questions of economy); methods of studying the object (complex, system analysis, functional-cost, comparative, continuous and selective, correlation analysis, etc.); degree of mechanization and automation of computer works (analysis in the conditions of electronic data processing with application of counting and perforation equipment, counting and keyboard machines).

These features take into account almost all aspects of this subject. However, from the standpoint of a systems approach, this classification of features needs to be slightly modified. The most important features of the distribution of analysis by species, according to SA Voevodin, are:

target orientation of the analysis; time of its holding; methods of conducting.

From the point of view of subject orientation it is possible to allocate the following types of the analysis: a technological way of manufacture; products; organizations. The latter type of analysis can be divided depending on the place of the organization in the hierarchical management structure – workplace, site, shop, service, enterprise, etc.

Based on the method of analysis, it can be divided into three types:

system analysis (the main condition – purposefulness); complex (covers all aspects of economic activity); thematic (study of a phenomenon, patterns).

The principle of classification by subjects of management, ie by subjects of the control system, is important.

In the work of IS Matskevicius and GL Kalczynskas it is noted that accounting data make up about 70% of the total economic data of industrial enterprises. According to some sources, no more than 15-20% of the total amount of data in related business management functions is used.

At the same time, the accounting information of industrial enterprises does not fully meet the needs of management. This primarily applies to the cumbersome and inefficient system of accounting and cost analysis.

In today’s market economy, accounting is increasingly divided into two areas: financial accounting and management accounting.

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