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The concept of financial and economic activity of the enterprise
To ensure a normal (fairly comfortable) level of their life, any society carries out many types of specific labor. For this purpose, certain organizations are created that jointly carry out a particular mission and act on the basis of certain rules and procedures. An enterprise (organization) is an organizationally allocated and economically independent main (primary) link in the production sector of the national economy that manufactures products, performs work or provides services.
In business practice, each enterprise as a complex production and economic system carries out many specific activities. Each enterprise independently plans its activities and determines the prospects (strategy) of development, based on the demand for manufactured products (work, performed services) and the need to constantly increase its own profit, and also provides material and technical support for production.
The functioning of the enterprise is accompanied by a continuous circulation of funds, carried out in the form of resource costs and generating revenues, their distribution and use.
Each enterprise has a specific goal. There may be several goals, usually set by their owners, and to achieve this, material and human resources are used, with the help of which financial and economic activities are carried out. That is, in essence, financial and economic activity is a tool to achieve the hierarchical, economic and other goals facing a particular company.
Financial and economic activity is a purposefully carried out process of practical implementation of the functions of an enterprise related to the formation and use of its financial resources to ensure economic and social development. It is carried out at all stages of the life cycle of the enterprise: from the moment of its birth to the moment of its liquidation as an independent business entity. The process of carrying out the financial and economic activities of an enterprise is characterized by a wide range of its financial relations with various entities of the country's financial system.
The financial and economic activity of the enterprise is characterized, first of all, by the quantity and range of products, as well as the volume of its sales. The volume of products directly depends on the availability and quality of production capacities, the availability of the necessary raw materials, materials or components, personnel of relevant qualifications, markets for products.
In turn, the volume of products affects all other aspects of the financial and economic activities of the enterprise - the cost of products, the amount of profit, profitability , financial condition of the company.
The financial and economic activity of enterprises is a focused activity based on decisions made, each of which is optimized on the basis of intuition or calculations. The risk of decision making is understood as the probability of inconsistency of the obtained results of the implemented decision with the set goals.
There are a lot of factors affecting the financial and economic activities of an enterprise or organization. Not all of them can be analyzed. The most important are the available resources - financial, material, personnel.
The purpose of financial and economic activity is to obtain the maximum possible results. The tasks that are achieved when the goal is achieved are: providing the production process with resources and managing them; organization of the production process; the formation of positive results. The objectives of the management of financial and economic activities are: planning, control, adjustment, analysis, increase efficiency.
Financial and economic activity acts as an activity, primarily in relation to its basis - the finance of the enterprise. However, the effectiveness of the organization of finance acts as the financial condition of the enterprise. The latter depends on the effective organization of the entire cash flow. Therefore, financial and economic activity as a concept covers a wide range of activities within the enterprise, consisting of control over the provision of cash settlements, receipt of cash income and expenses, the formation and distribution of cash accumulations and financial resources.
The diverse financial and economic activities of the enterprise are carried out on the basis of planned and current and operational financial documents. The objects of planning, regulation and control in them are monetary and financial relations materialized in the relevant indicators. The main objects of financial and economic activity are those diverse monetary and financial relations of enterprises that make up the content of the finances of enterprises.
The effectiveness of the financial and economic activity of an enterprise should be understood as its result, obtained or potentially possible in the process of converting certain resources into a final product (work, service). The level of efficiency of the financial and economic activities of the enterprise is characterized by the level of its costs, results and financial condition. That is why, in order to determine the level of efficiency of the financial and economic activities of an enterprise, it is necessary to calculate a set of indicators characterizing its cost, effectiveness and financial condition.
To determine the essence of the financial and economic activities of the enterprise, it is necessary to define the main components of it. Such elements are: the finances of the enterprise, the structure of the assets of the enterprise, the structure of the property of the enterprise, the goals of financial analysis, the subjects of analysis.
Savitskaya G.V. writes that in a market environment, enterprise finance is particularly important. The increasing role of enterprise finance should be seen as a trend in force throughout the world.
The main purpose of assessing the financial and economic activities of the enterprise, according to V. Strazhev, is to obtain a small number of key (most informative) parameters that give an objective and accurate picture of the financial condition of the enterprise, its profits and losses, changes in the structure of assets and liabilities, in settlements with debtors and creditors, which will be discussed in the next paragraph of the final qualification work.
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