Uman NUH | today: 07/08/2024
| Author(s) |
Bechko P.K., Candidate of Economics, , Uman National University of Horticulture, Ukraine Huzar B.S., Candidate of Economics Sciences, , Kolotukha S.M., Candidate of Economics, , Uman National University of Horticulture, Ukraine Lysa N.V., Candidate of Economics Sciences, , Uman National University of Horticulture, Ukraine Ptashnyk S., Candidate of Ekonomikal Sciences, , Uman National University of Horticulture |
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| Category | Economics | ||
| year | 2024 | issue | Issue number 104. Part 2 |
| pages | 375-382 | index UDK | 336.01 | DOI | 10.32782/2415-8240-2024-104-2-375-382 (Link) |
| Abstract | The domestic agricultural industry occupies a special place in the national economy, as it forms the country's food and economic security. The changes taking place in the conditions of the market economy of Ukraine, which is continuously transforming, require from the managers of agrarian business subjects new innovative mechanisms and approaches to technologies and financial management mechanisms within the framework of their strategy. The article examines the essence of "financial management"; the importance of developing new forms and possible methods of financial management is substantiated; Formulated reasons for insufficiently effective financial management at economic entities of agrarian business; a number of factors affecting their financial flows are identified; the current state of the domestic agricultural industry is considered; the main areas that should be resolved by the system of effective financial management are reflected, which in the complex would contribute to the formulation of directions and recommendations for improving the domestic financial management of agricultural business entities, and, accordingly, increasing their competitive advantages. One of the methods of increasing the economic efficiency of agricultural business entities is the improvement of financial management. The experience of developed agrarian business entities proves that without understanding the basics and practical methods of financial management, the effective development of socio-economic processes becomes impossible. To solve the tasks of stable development of the agricultural industry, the main problem is to increase the efficiency of production at the expense of internal factors. To increase the efficiency of the financial management system of domestic agrarian business entities in general, as well as in the investment sphere of their activity, a number of measures must be taken, namely: use specific methods of financial management when determining the results of financial and economic activity of agrarian business entities; calculate possible options for the result during the selection of the investment object; develop a business plan for all possible financial management options; conduct a constant economic assessment and ranking of cash flow management options in order to choose the most optimal, economically efficient financial activity. Implementation of the system of effective financial management is not an end in itself, but only one of the stages, an indispensable tool for the overall improvement of the efficiency and sustainability of national agricultural production. | ||
| Key words | financial management, agricultural sector, management, capital, competitive advantages | ||