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Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.2, No. 32)

Publication Date:

Authors : ; ; ;

Page : 84-93

Keywords : financial condition; financial condition assessment; simplified algorithm; expert assessment method; selection of criteria; operational monitoring;

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In the conditions of fierce market competition, each entrepreneur must constantly monitor the market situation and ensure the high competitiveness of their products. One of the tools for assessing real competitiveness and avoiding risk situations in activities is the diagnosis of the financial condition of the enterprise. Domestic scientists have made a significant contribution to the construction of a systematic theoretical and methodological basis for studying the financial condition of business entities and are constantly deepening it in various aspects of assessing the financial condition. These areas of scientific research are important for increasing the efficiency of managing the activities of subjects of various organizational forms and types of ownership in a market environment. The article is devoted to further improvement of the methodology for assessing the financial condition in order to simplify it and possibly use it in the practical activities of business entities for making timely management decisions. A methodological approach to the formation of a simplified algorithm for assessing the financial condition of a business entity based on the method of expert assessments is proposed. Substantially with high probability and reliability, the criteria for its assessment that are most affecting the financial condition were selected. An assessment of the financial condition of a particular business entity was carried out using the reduced methodology and the classical multi-criteria methodology. Testing proved the coincidence of the results of the assessment of the financial condition and the conclusions made by two methods. Confirmed by the calculations, the possibility of using in practice a reduced methodology for assessing the financial condition of an enterprise. It was recommended to implement the developed algorithm of a simplified methodology for assessing the financial condition of a business entity in monitoring its activities in order to timely make effective management decisions to increase the competitiveness of products and avoid risky crisis situations in market conditions.

Last modified: 2021-03-18 22:11:48