FORMATION OF THE EFFECTIVE FINANCIAL MANAGEMENT SYSTEM: THEORETICAL AND PRACTICAL ASPECT

The article investigates the tools and methods of forming an effective financial management system. It is stated that one of the forms of strategic development of the enterprise is the effective management of its financial component. It is specified that the construction of an effective financial management system provides the company with the opportunity to maintain a competitive position in the market and further economic development. It has been found that to build an effective financial management system essential point is the use of equity management tools. It is determined that one of the tools for building an effective system of financial management is factor analysis, which allows to assess the compliance of the processes of raising and using equity of the enterprise to the strategic goals of the enterprise. It has been pointed out that in the process of factor analysis the technique of multidimensionality of indicators of the studied object is used. The requirements for the formation of an effective financial management system based on the use of factor analysis data have been indicated. The factors that affects the process of building a financial management system are identified and the indicators that defines the efficiency of its implementation are outlined. The factors of formation and implementation of the financial management system are analyzed. It is proposed to use a pyramidal strategy based on the principles of reengineering, accounting, economic activity and specific effective tools of strategic management when building a financial management system. The basis of the pyramidal conceptual strategy of financial management is to establish relationships between the overall financial strategy and the main qualitative indicators of financial performance of the enterprise. As a result, it is noted that the management of the enterprise should build a pyramid of effective financial management based on improving the strategy of using equity and optimizing financial opportunities. The given strategy is based on the integration, renewal and improvement of the management system and involves the involvement of managers and administrative staff of the enterprise in the decision-making process for the introduction of innovative forms of management of equity and financial flows.