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CORPORATE FINANCE
Cost management and financial performance of small enterprises in the format of the concept of kaizen
Filobokova L. Y., d. e. n., professor, Moscow State Technical University N.Uh. Bauman
Pisotskii Y. S., d., p. n., professor, head of chair of economics and management of small business National research university “MISiS”
Annotation. The situation in the field of small business development and the achieved results of management determine the recognition of imperfect management entrepreneurship in small organizational-economic forms of economy and needs to rethink both at the level of theoretical and methodological approaches, and practical tools. One of the modern management concepts in terms of thrift and continuous improvement without significant investment in the development and implementation is the concept of Kaizen, which may be adjusted in small business the focus of this article.
Keywords: cost management and financial performance, the concept of Kaizen, small business.
References:
1. Gradobitova L.D. Teoriya mezhdunarodnoy konkurentosposobnosti gosudarstv M. Portera. – M., 2006.
2. Andrianov V. Konkurentosposobnost' Rossii v mirovoy ekonomike // ME i MO. – 2007. – ¹ 6.
3. Masaaki Imai. Kayzen: klyuch k konkurentosposobnosti Yaponii. – Rezhim dostupa: http://books.pchelov.com
4. Kolenso Maykl. Strategiya kayzen dlya uspeshnykh organizatsionnykh peremen: per. s angl. – M.: INFRA-M, 2002. – XIV, 175 s. – (Seriya «Menedzhment dlya lidera»).
5. Masaaki Imai. Ekonomichnyy podkhod k upravleniyu GEMBA KAIZEN. – Rezhim dostupa: http://books.pchelov.com
6. Filobokova L.YU. Byudzhetirovaniye kak element operativnogo finansovogo kontrollinga v upravlenii malym predprinimatel'stvom // Finansovyy menedzhment. – 2013. – ¹ 2. – S. 37–44.
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9. Bondarenko S.S. Instrumentariy realizatsii kontseptsii postoyannogo usovershenstvovaniya na otechestvennykh predpriyatiyakh // Vestnik KHNU. – 2008. – ¹ 4. – S. 150–153.
10. Kharlamova T.N., Gerasimov B.I., Zlobina N.V. Upravleniye zatratami na kachestvo produktsii: otechestvennyy i zarubezhnyy opyt: monografiya / pod nauch. red. d-ra ekon. nauk, prof. B.I. Gerasimova. – Tambov: Izd-vo Tamb. gos. tekhn. un-ta, 2006. – 108 s.
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Debt management: how to get your money back
Shestakova E.V., Candidate of Legal Sciences, General director LLC Actual management
Annotation. Bad debt management is very interesting problem in times of crisis both for companies and for entrepreneurs, because in the conditions of crisis the counterparties do not return taken once the loans do not fulfill the obligation, in spite of the advance or return money for poor-quality products. And today you can often found ads for employment of thespecialists debt collection. In this article we will present some ideas of the management of bad debts.
Keywords: detection of bad debts, bank guarantee, claim handling complaints penalty in court, responding netting, an agreement of a compensation.
References:
1. Grazdanskii kodeks Rossiiskoi Federacii (cast pervaja) ot 30.11.1994 ¹ 51-FZ (red. 31.01.2016).
2. Opredelenie VAS RF ot 06.06.2014 ¹ ÂÀÑ-6604/14 po delu ¹ À56-7859/2013, postanovlenie Arbitraznogo suda Vostochno-Sibirskoro okruga ot 23.09.2014 po delu ¹ À58-6941/2013.
3. Postanovlenie Semnadcatogo arbitraznogo apelljawbonnogo suda ot 19.05.2014 ¹ 17AP-4725/2014-GKu po delu ¹ À50-23590/2013.
4. Federalnii zakon ot 26.10.2002 ¹ 127-FZ (red. ot 29.12.2015) «O nesostojatelnosti (bankrotstve)».
5. ?Arbitraznii processualnii kodeks ot 24.07.2002 ¹ 95-?FZ (?red. Ot 30.12.2015) (?s izmenenijami ot 01.01.2016).
6. ?Postanovlenije prezidiuma VAS ot 25.09.2007 ¹ 7134/07.
7. ?Nalogovyi kodeks (chast 2) ot 05.08.2000 ¹ 117-ÔÇ (?red. Ot 15.02.2016).
Deposit as a way of ensuring the solvency of the company
Karzaeva E.A., financial controller of LLC “Delta UK”
Annotation. The article raises the problem of assessing the solvency of a company through ratios of liquidity, which may not fully reflect the timely performance of obligations before creditors. We propose a method of solving this problem using redundancy trust funds in a bank deposit to cover payables. Substantiates the effectiveness of this tool, as synthesis of the warranty payments by letter of credit and the profitability of financial investments. The article distinguishes between three types of business depending on the dynamics of inflows of cash: regular cash earnings, systematic and discrete. Depending on the type of business, and plan payments of the company, examines various strategies reserve money on deposit.
Keywords: solvency, liquidity, bank deposit, letter of credit, reserve, payment calendar.
References:
1. Sheremet, A.D. Kompleksnyy analiz hozyaystvennoy deyatel'nosti. - M.: Infra-M, 2006. 414 s.
2. Sravnitel'nyy analiz finansovogo sostoyaniya i rezul'tatov deyatel'nosti organizatsiy APK // Buhuchet v sel'skom hozyaystve. – 2012. - ¹ 7. - S. 27–34.
3. Dontsova L. V., Nikiforova N. A. Financial statementanalysis: textbook. - M.: Publishing house "Business and Service, 2009. - 384 p.
4. Efimova, O.V. Finansovyy analiz: sovremennyy instrumentariy dlya prinyatiya ehkonomicheskih resheniy: Uchebnik. 2-e izd. - M.: Omega-L, 2010. – 351 s.
5. Kovalev, V.V. Finansovyy analiz: metodyi protsedury. - M: Finansyi statistika, 2006. - 559 s.
6. Kompleksnyy ehkonomicheskiy analiz hozyaystvennoy deyatel'nosti: ucheb. posobie / pod red. M.A. Vahrushinoy. - M.: Vuzovski yuchebnik, 2011. - 463 s.
7. Mel'nik, M.V., Gerasimova, E.B. Analiz finansovo-hozyaystvennoy deyatel'nosti predpriyatiya: Ucheb. posobie. - M.: Forum: INFRA-M, 2008. –192 s.
8. Mel'nik, M.V., Efimova, O.V. Analiz finansovoy otchetnosti: ucheb. posobie. - M.: Omega-L, 2006. - 408 s.
9. Pyatov, M.L. Soderzhanie buhgalterskogo balansa i vozmozhnosti ego analiza // Buh. 1S. - 2007. - ¹ 6. - S. 25–29.
10. Savitskaya, G.V. Analiz hozyaystvennoy deyatel'nosti predpriyatiya. - Minsk: OOO «Novoe znanie», 2000. - 688 s.
11. Karzaeva, N.N., Z Huravleva, O.S. Dostovernost' otsenki platezhesposobnosti hozyaystvuyushchih sub"ektov v prognozirovanii bankrotstva // Ekonomika i upravlenie: problemy; resheniya. - 2014. - ¹ 8 (32). - S. 160–165.
12. Romanovskiy, M.V. Korporativnye finansy: Uchebnik dlya vuzov/ Romanovskiy M.V Vostroknutova A.I. - SPb.: Piter, 2011. 592 s.
13. Bol'shaya sovetskaya ehntsiklopediya/ Polonskiy EH.G. [i dr.]. - M.: Sovetskaya ehntsiklopediya 1969—1978.
14. Grazhdanskiy kodeks Rossiyskoy Federatsii (chast' vtoraya) ot 26.01.1996 N 14-FZ (red. ot 29.06.2015), Stat'i 855, 867.
15. Garifulin, A.F. Platezhnyy kalendar' kak instrument byudzhetirovaniya // Planovo-ehkonomicheskiy otdel. – 2012. - ¹ 1. – S. 14-16.
16. banki.ru/products/deposits/catalogue/vkladyi_s_chastichnyim_snyatiem/
Methodical maintenance and diagnostic tools of bankruptcy probability in company
Sivkova A.E., assistant at the Business Analysis department at Plekhanov Russian University of Economics
Annotation. The relevance of the methodological tools development of bankruptcy assessment is considered in the article. Moreover, Russian and foreign models for assessing bankruptcy probability are compared and the comprehensive and innovative approach to bankruptcy assessment is offered in the article. The proposed method for diagnosing bankruptcy probability can be used as a forecasting tool that will neutralize possible disadvantages of classical methods.
Keywords: method of estimating the bankruptcy probability, classical instruments, the innovative technique.
References:
1. Sivkova A.E., Luk'yanov A.V., Kazakova N.A. Gosudarstvennyj kontrol' bankrotstva ehkonomicheskih sub"ektov // Aktual'nye napravleniya fundamental'nyh i prikladnyh issledovanij. Materialy VI mezhdunarodnoj nauchno-prakticheskoj konferencii. NIC «Akademicheskij». North Charleston, SC - USA – 2015 - S. 224-226.
2. Kazakova N.A., Sivkova A.E. Problemy diagnostiki bankrotstva v Rossijskoj Federacii. // Sinergiya ucheta, analiza i audita – osnova ehffektivnogo upravleniya mirovoj ehkonomikoj. Mezhvuzovskij sbornik nauchnyh trudov i rezul'tatov sovmestnyh nauchno-issledovatel'skih proektov. - Moskva - 2014- S. 273-281.
3. Romodanovskaya N.B. Primenenie metoda diskriminantnogo analiza pri diagnostike veroyatnosti bankrotstva kinokompanij // EHkonomika i predprinimatel'stvo. - 2013. - ¹ 3. - S. 191-195.
4. Basnukaev M.SH. Finansovyj analiz i finansovaya ustojchivost' predpriyatiya // Mir ehkonomiki i prava. - 2013. - ¹ 11-12. - S. 9-15.
5. Kazakova N.A., Kisnichyan M.B.,Sivkova A.E.,Kazakov A.YU. Uchet, analiz i ocenka riskov predprinimatelskoj deyatelnosti na rynke lizingovyh uslug. // Lizing. Tekhnologii biznesa. - ¹ 4.- 2015 - S.-53-62.
Applicability of valuation models for financial management of a company
Rozhkovskiy A.L., Candidate for a Degree, Novosibirsk State University of Economics and Management, Head of Analytical Department, PJSC “MDM Bank”
Annotation. Value-based management is generally accepted concept of financial management. The practical implementation of this concept requires valuation models which allow to assess company regularly and to compare effectiveness of alternative decisions in terms of impact on the company value. The theory and practice of business valuation uses a wide range of valuation models, but not all of them are applicable for management purposes. This article describes the classification of the most popular valuation models within the income-based valuation approach. Applicability criteria of valuation models for financial management of a company are substantiated in this article. A comparative analysis of the most popular valuation models was held to meet those criteria.
Keywords: value-based management, valuation, economic profit, cash flow, management functions.
References:
1. Valdaytsev S.V. Otsenka biznesa. Moscow: Prospekt, 2008.
2. Volkov D. L. Modeli otsenki fundamental'noy stoimosti sobstvennogo kapitala kompanii: problema sovmestimosti // Vestnik Sankt-Peterburgskogo universiteta. Seriya «Menedzhment». – 2004. - N3. – P. 3-36.
3. Damodaran A. Investitsionnaya otsenka. Instrumenty i metody otsenki lyubykh aktivov. Moscow: Al'pina BiznesBuks, 2004.
4. Kovalev V.V. Finansoviy menedzhment: teoriya i praktika. Moscow: TK Velbi, 2007.
5. Kouplend T., Koller T., Murrin Dzh. Stoimost' kompaniy: otsenka i upravlenie. Moscow: ZAO «Olimp–Biznes», 2005.
6. Meskon M., Al'bert M., Khedouri F. Osnovy menedzhmenta. Moscow: Delo, 1997.
7. Edwards E., Bell P. The theory and measurement of business income. – Berkeley, CA: University of California Press, 1961.
8. Ehrbar A. EVA: the real key to creating wealth. – New York: Wiley, 1998.
9. Stewart G. Bennet. The quest for value: the EVA management guide. – New York: Harper Business, 1990.
Development of functional models for assessing the credit risk of trade organizations in the implementation of internal management
Leontyev D.A., postgraduate of Plekhanov Russian University of Economics
Annotation. Credit financing is one of the most widely used sources of organizations to raise funds, especially in Russia. Under these circumstances, banks pays great attention to the reliability of the borrower and the methods of hedging risks arising from the loan. It is therefore particularly relevant is the question of reliable and accurate assessment of the reliability of the counterparty, based on the available data.
Given the downward trend of credit organizations in Russia (especially banking licenses recall), we can say that the credit at risk and borrowers – the risk of cessation of funding losses that are sometimes crucial in the implementation of the commercial project.
The article formulated one of the most effective methods of calculating reliability indices of both banks and borrowers, by constructing the correlation graphs indicators, peculiarly seful in the trading industry.
Keywords: credit risk, evaluation, efficiency, trade, network, finance, management, credit, bank, the borrower, the correlation chart, index trading, hedging.
References:
1. Leshchinskaya A. F. Investicionniy menegment. M.: Izd. dom MISiS., 2014 – 148 s.
2. Leshchinskaya A. F. Osnovi economicheskoy teorii: ucheb. v 3 ch. pod. red. prof. Leshchinskoy A. F. – 4-e izd., pererab. i dop. – M.: Izd. dom MISiS., 2011, 2012 g. – 268 s.
3. Leontiev D.A. Vliyanie otraslevogo riska na economicheskoe razvitie. – g. Kursk.: sbornik statey VIII Mezhdunarodnoy nauchno-prakticheskoy konferencii «Actual’nie problem razvitiya social’no-economicheskih system: teoriya i praktika» - 2015 - ¹ 10.
4. Khripunova M. B., Tsyganyuk I. I. Vishaya matematika dlya economistov: uchebnik i praktikum. – M.: izd. «Urayt», 2015. – 472 s.
5. Leshchinskaya A. F. Ocenka vliyaniya investicionnih riskov organizatsii na effectivnost’ finansirovaniya na osnove korrelyacionnoy modeli/ A.V. Slavyanskiy// Finansoviy menedzhment. – 2009. - ¹ 5
Practical implementation of the simplex method efficient materials management and profitability of domestic industrial enterprises
Tokmanyov S.V., doctor of economic Sciences, candidate of technical Sciences, associate Professor, Professor of the Department “Economics of trade and logistics”, South Ural state University (national research University), Chelyabinsk
Yakunina Y.S., senior lecturer of the Department “Economics of trade and logistics”, South Ural state University (national research University), Chelyabinsk
Trubeev D.I., postgraduate student of the Department “Economics of trade and logistics”, South Ural state University (national research University), Chelyabinsk
Annotation. The article considers the variant of practical application of the simplex method in linear programming problems, define the best use of a set of interrelated material resources of the enterprise under the linear constraints for maximum profit. A variant of the efficient inventory management and production using the simplex method, implemented planning required intensity of production required inventory levels that maximized profit from the sale of products with effective maneuvering of material resources for subsequent periods of operation of the business. The article proposes a way of solving problems arising in the General theory of inventory management for maximum profit and efficient balance between performance and resources imposed constraints were expressed as linear equalities and inequalities.
Keywords: material resources, profit, simplex method, linear programming, supply, manufacturing.
References:
1. Okol'nishnikova I.Ju., Jakunina Ju.S. Tendencii razvitija sovremennogo rynka logisticheskih uslug v Rossii // Vestnik Juzhno-Ural'skogo gosudarstvennogo universiteta. Serija: jekonomika i menedzhment . - t. 8. ¹ 1, 2014.
2. Dantzig G.B., Thapa M.N. Linear programming. - Springer-Verlag, 2003. - Vol. 2. Theory and Extensions.
3. Bukan Dzh., Kenigsberg Je. Nauchnoe upravlenie zapasami. - M.: Nauka, 1967.
4. Kantorovich L.V. Matematicheskie metody organizacii planirovanija proizvodstva // Izdanie Leningradskogo gosudarstvennogo universiteta. - Leningrad, 1939.
5. Hemdi A. Taha. Simpleks-metod // Vvedenie v issledovanie operacij = Operations Research: An Introduction. - 7-e izd. - M.: «Vil'jams», 2007.
6. Shevchenko V.N., Zolotyh N.Ju. Linejnoe i celochislennoe linejnoe programmirovanie. - Nizhnij Novgorod: Izdatel'stvo Nizhegorodskogo gosuniversiteta im. N.I. Lobachevskogo, 2004.
7. Gorelik V.A., Ushakov I.A. Issledovanie operacij. - M.: Mashinostroenie, 1986.
8. Borgwardt Karl-Heinz. The simplex method: A probabilistic analysis. - Berlin: Springer-Verlag, 1987. - Vol. 1.
9. Kalihman I.L. Linejnaja algebra i programmirovanie. - M.: Vysshaja shkola, 1967.
10. Kremer N.Sh., Putko B.A., Trishin I.M., Fridman M.N. Issledovanie operacij v jekonomike / Pod red. prof. N.Sh. Kremera. - M.: JuNITI, 2003.
11. Hazanova L.Je. Matematicheskoe modelirovanie v jekonomike. - M.: Bek, 1998.
12. Solodovnikov A.S., Babajcev V.A., Brailov A.V. Matematika v jekonomike. V 2-h ch.: Finansy i statistika, 2000. - Ch.1.
13. Tokmanev S.V. Modeli i metody upravlenija zapasami. Vostochnaja jekonomiko-juridicheskaja gumanitarnaja akad. (Akad. VJeGU). - Ufa, 2008.
14. Bandi B. Osnovy linejnogo programmirovanija. - M.: Radio i svjaz', 1989.
15. Tokmanev S.V., Levina A.B., Trubeev D.I. Metodicheskoe i analiticheskoe obespechenie jeffektivnosti upravlenija material'nymi resursami: monografija. - Cheljabinsk, Izdatel'skij centr JuUrGU, 2016.
MANAGEMENT OF THE FINANCE OF THE PUBLIC COMPANIES
On issuing convertible bonds by the russian issuers to raise funds abroad
Balyuk I.A., PhD (Economics), associate professor of the World Finance Chair, the Financial University under the Government of the Russian Federation, Moscow, Russia
Annotation. The article considers main features of convertible bonds (CB), analyzes current state of the international market of this type of securities, determines key specifics of its placement and further trading, and highlights the “bottlenecks” and problems hindering more active issuing CBs by the various Russian corporates and banks. On the basis of analysis of practical experience related to preparing and closing issue CBs deals the author makes recommendations aimed at optimizing CBs placement by the potential Russian issuers.
Keywords: convertible bonds, hybrid securities, convertibility ratio, international capital market, alternative funding source.
References:
1. BISQuarterlyReview, June 2015.
2. Information agency Cbonds. URL: http://ru.cbonds.info/encyclopedia/13 (access as of 20.02.2016). (In Russ.)
3. BISQuarterlyReview, June 1997.
4. Pashkovskaia I. Rol’ konvertiruemykh obligatsii v podderzhanii dostatochnosti sobstvennogo kapitala bankov v usloviiakh krizisa [On the role of convertible bonds in maintaining bank’s own capital in the crisis situation]. Finansy, Den’gi, Investitsii – Finance, Money, Investments, 2013, no.3 (47). (In Russ.)
5. Kafiev Y. Novyi instrument finansirovaniia rossiiskikh korporatsii [A new finance instrument for the Russian corporates]. Rynok tsennykh bumag – Señurities Marke, 1998, no. 2. (In Russ.)
6. Berzon N., Buiianova E., Kozhevnikov Ì., Chalenko À. Fondovyi rynok [Stock Market]. Ì.: Vita-Press, 1998.
7. Radchenko S. Konvertiruemye obligatsii kak sredstvo privlecheniia kapitala [Convertible bonds as a mean of raising capital]. Rynok tsennykh bumag – Señurities Marke, 1998, no. 2. (In Russ.).
8. Brealey R., Mayers S. Printsipy korporativnykh finansov [Principles of Corporate Finance]. M.: Olimp-Biznes, 1997. (In Russ.)
9. Understanding Convertible Bonds. Allianz Global Investors. September 30, 2015 URL: http://us.allianzgi.com/MarketingPrograms/External%20Documents/Understanding_Convertibles_IES_016.pdf (access as of 20.02.2016).
10. Information portal “Banki.ru” URL: banki.ru/news/lenta/?id=8072100 (access as of 15.01.2016).
11. PÀÎ «LUKOIL». Konsolidirovannaia finansovaiia otchetnost, 31 dekabria 2015 g. [Consolidated Financial Report, December 31, 2015]. URL: lukoil.ru (access as of 28.03.2016).
12. Hybrid Debt Securities. The Moscow Times, 27.04.2010 URL: themoscowtimes.com/business/business_for_business/article/404844.html (access as of 15.01.2016).
13. Convertible Bonds. Fundamentals Asset Allocation Solvency. Credit Suisse AG, 2014 URL: credit-suisse.com/pwp/am/downloads/marketing/wp_broschuere_convertibles_eng.pdf (access as of 20.02.2016).
14. Pavlov Î. Vympelkom: opyt kombinirovannogo razmescheniia aktsii i konvertiruemykh obligatsii [Vimpelcom: an experience of combined placement of equity and convertible bonds]. Rynok tsennykh bumag – Señurities Marke, 2000, no. 22. (In Russ.)
15. Aktsii vmesto dolga [Equity instead of debt]. Gazeta “Vedomosti” – “Vedomosti” Newspaper, 18.10.2012 URL: vedomosti.ru/technology/articles/2012/10/18/akcii_vmesto_dolga (access as of 15.01.2016).
INVESTMENTS AND BUSINESS
Sources of financing of social business in Russia
Grishchenko Yu.I., Ph.D., associate professor financial management, Financial University under the Government of the Russian Federation
Sheveleva E.S., student of faculty of international economic relations of Financial University under the Government of the Russian Federation
Annotation. Social business is, as a rule, a field of activity of small and average business. For social businessmen, especially in the conditions of crisis, the question of ensuring activity with sources of financing is one of key. Therefore, for development of social business in Russia there is a need of research of new sources of attraction of financial resources.
Keywords: social business, subsidies, loans, credit, crowd funding, maternity capital.
References:
1. Prikaz Minekonomrazvitiya Rossii «Ob utverzhdenii znacheniy urovnya sofinansirovaniya meropriyatiy, osuschestvlyaemyih v ramkah okazaniya gosudarstvennoy podderzhki sotsialno orientirovannyim nekommercheskim organizatsiyam, po sub'ektam Rossiyskoy Federatsii na 2015 god» [Elektronnyiy resurs]. URL: http://economy.gov.ru/minec/activity/sections/socorientnoncomorg/201412308
2. Biryukov I. Zarabotat na dobrodeteli // Rossiyskaya gazeta. – 2014. – ¹ 113. – C. 16–17.
3. Zvereva N.I. Sotsialnyiy biznes – eto perspektiva obozrimogo buduschego // Biznes-zhurnal. – 2014. – ¹ 6. – S. 50–54.
4. Zadorin I.V. Sotsialnoe predprinimatelstvo: vospriyatie rossiyan // Prezentatsiya vyistupleniya na «kruglom stole» 25.06.2015 «Sotsialnoe predprinimatelstvo: Luchshie praktiki i osnovnyie vyizovyi» [Elektronnyiy resurs]. URL: zircon.ru/publications/sotsiologiya-sotsialnoy-sfery-i-grazhdanskogo-obshchestva/
5. Pozdnyakova S.V. Kraudfanding v sotsialnom predprinimatelstve // Uchenyie zapiski Tambovskogo otdeleniya RoSMU. – 2015. – ¹ 4 [Elektronnyiy resurs]. URL: http://cyberleninka.ru/article/n/kraudfanding-v-sotsialnom-predprinimatelstve
6. Portret sotsialnogo predprinimatelya: klyuchevyie harakteristiki. Itogovyiy otchet po rezultatam issledovaniya (versiya 1.1 ot 04.03.2013). Issledovatelskaya gruppa «TsIRKON» // [Elektronnyiy resurs]. URL: zircon.ru/upload/iblock/e4e/Portret_SP_Otchet.pdf
7. Statistika kraudfandinga v Rossii – portal «Startmen» [Elektronnyiy resurs]. URL: http://thestartman.ru/
8. Sotsialnoe predprinimatelstvo: vospriyatie rossiyan // Fayl prezentatsiya. TsIRKON. 30.09.2012 [Elektronnyiy resurs]. URL: zircon.ru/publications/sotsiologiya-sotsialnoy-sfery-i-grazhdanskogo-obshchestva. – S. 2–3.
9. Sayt ezhegodnoy premii za vklad v razvitie i prodvizhenie sotsialnogo predprinimatelstva v Rossii «Impuls dobra» [Elektronnyiy resurs]. URL: http://impulsdobra.ru/
10. Kim Alter. Social Enterprise: A Typology of the Field Contextualizaed in Latin America (Inter-American Development Bank) [Ýëåêòðîííûé ðåñóðñ]. URL: virtueventures.com/resources/setypology
Approaches to auditing of the activity of the users of the franchise
Panyukova V.V., Ph.D., Associate professor of Finance University under the Government of the Russian Federation, Department of Marketing and Logistics
Annotation. The results of the research of the audit of the activity of the franchise users by the Russian and foreign franchisors are presented in the article. The author gave the interpretation of the concept of “audit of franchise relationships”, identified the main reasons of the audit of the franchisee’s enterprises, held a classification of the control activities carried out by the franchisors. The author also stated the main features of the audit of activity of franchisees at various stages of development of the franchise system.
Keywords: audit of franchisee’s activity, franchise system, franchise relationship, control of franchisees, franchisor.
References:
1. ZHuravlev A.E. Konsalting kak instrument povysheniya investicionnoj privlekatel'nosti franchajzinga// Teoriya i praktika servisa: ehkonomika, social'naya sfera, tekhnologii, 2015, ¹ 2 (24), s. 55 – 60.
2. Zeman R., Polanecki L. Franchajzing kak sposob vedeniya biznesa i ego primenenie na praktike// EHkonomika i politika, 2015, ¹ 3(6), s. 50-56.
3. Nesterenko O.A. Antikrizisnye marketingovye strategii razvitiya fehshn – ritejla v 2015 – 2016 gg.// Uspekhi sovremennoj nauki, 2016, ¹ 3 (Tom 2), s. 20 – 25.
4. Panyukova V.V. Primenenie integracionnyh mekhanizmov razvitiya v torgovoj otrasli Rossii na osnove franchajzinga: Monografiya: M. Vash format, 2014. – 164 s.
5. Panyukova V.V. Upravlenie prodazhami franshiz v usloviyah mezhgosudarstvennoj integracii// Menedzhment v Rossii i za rubezhom, 2014, ¹ 1, s.83 -90.
6. Tarasova N.E., Fedorov M.A. Autsorsing kak sredstvo povysheniya konkurentosposobnosti malyh i srednih predpriyatij// EHkonomika i upravlenie: analiz tendencij i perspektiv razvitiya, 2014, ¹ 11, s. 54 – 58
7. Usov D.YU. Strategicheskoe upravlenie franchajzingovoj set'yu// Izvestiya Sankt – Peterburgskogo gosudarstvennogo ehkonomicheskogo universiteta, 2014, ¹ 1, s. 143 – 149.
8. Holin E.S. Franchajzing: koncepciya formirovaniya sistemy, tendencii razvitiya v usloviyah krizisa // Rossijskoe predprinimatel'stvo. 2015, ¹ 11, s. 1657 – 1670.
9. Ajer Kristin A., Hustad E. Enterprise System Implementation in a Franchise Context: An Action Case Study, Procedia Computer Science, Vol. 64, 2015, Pp. 948–956
10. Boulay J. The role of contract, information systems and norms in the governance of franchise systems. International Journal of Retail & Distribution Management, 2010. 38 (9). – Pp. 662–676.
11. Velentzas J., Broni G. The Business Franchise Contract as a Distribution Marketing System: Free Competition and Consumer’s Protection, Procedia Economics and Finance, Vol. 5, 2013, Pp. 763–770.
12. Nyadzayo M.W., Matanda M.J., Ewing M.T. Franchisee-based brand equity: The role of brand relationship quality and brand citizenship behavior, Industrial Marketing Management, Vol. 52, January 2016. – Pp. 163–174.
13. Tikoo S. Franchisor use of influence and conflict in a business format franchise system. International Journal of Retail & Distribution Management, 2005. 33 (5). – Pp. 329–342.
14. Mellewigt T., Ehrmann T., Decker C. How Does the Franchisor’s Choice of Different Control Mechanisms Affect Franchisees’ and Employee-Managers’ Satisfaction?, Journal of Retailing, Vol. 87, Issue 3, September 2011. Pp. 320–331.
State support of crediting of small forms of management of rural areas
Dolgova S.A., candidate of economic Sciences, associate Professor of management and public administration, Federal State Educational Institution of Higher Education «Russian Presidential Academy of National Economy and Public Administration» Orel branch
Annotation. Small business in agrarian sphere can become a full member agropromyshlennogo market in the context of the implementation of measures on import substitution. The dynamic development of small businesses in the rural areas depends largely on the support of the process of production of investment resources. Most of them are unable to credit institutions cash to Finance their activities because of lack of liquid collateral and high interest rates. In this connection it is extremely important the participation of the state in the process of lending to these businesses.
Keywords: subsidized loans, sanctions, import substitution, credit product, state support.
References:
1. Godovoj otchet OAO «Rossel'hozbank» za 2014 god [Jelektronnyj resurs] URL: rshb.ru (data obrashhenija: 8.05.2016).
2. Gosudarstvennaja programma razvitija sel'skogo hozjajstva i regulirovanija rynkov sel'skohozjajstvennoj produkcii, syr'ja i prodovol'stvija na 2013-2020 gody [Jelektronnyj resurs] URL: http//mcx.ru (data obrashhenija: 8.05.2016).
3. Knjazev A. Gosudarstvennoe kreditovanie agrarnoj sfery jekonomiki / A. Knjazev // APK: jekonomika, upravlenie. – 2010. – ¹1. – S. 51-55.
4. Kurs na importozameshhenie-chetkaja i strategicheskaja pozicija gosudarstva // Kombikorma – 2014. – ¹11. – S. 2-13. [Jelektronnyj resurs] URL: kombi-korma.ru/2/11_14/11_2014_02-13.pdf (data obrashhenija: 9.05.2016).
5. Maslova V. Sovershenstvovanie mehanizma kreditovanija na sovremennom jetape / V. Maslova // APK: jekonomika, upravlenie. – 2014. – ¹2. – S. 51-59.
6. Nacional'nyj doklad «O hode i rezul'tatah realizacii v 2012 godu Gosudarstvennoj programmy razvitija sel'skogo hozjajstva i regulirovanija rynkov sel'skohozjajstvennoj produkcii, syr'ja i prodovol'stvija na 2008-2012 gody» [Jelektronnyj resurs] URL: http//mcx.ru (data obrashhenija: 5.05.2016).
7. Nacional'nyj doklad «O hode i rezul'tatah realizacii v 2014 godu Gosudarstvennoj programmy razvitija sel'skogo hozjajstva i regulirovanija rynkov sel'skohozjajstvennoj produkcii, syr'ja i prodovol'stvija na 2013-2020 gody» [Jelektronnyj resurs] URL: http//mcx.ru (data obrashhenija: 5.05.2016).
8. Nacional'nyj doklad «O hode i rezul'tatah realizacii v 2013 godu Gosudarstvennoj programmy razvitija sel'skogo hozjajstva i regulirovanija rynkov sel'skohozjajstvennoj produkcii, syr'ja i prodovol'stvija na 2013-2020 gody» [Jelektronnyj resurs] URL: http//mcx.ru (data obrashhenija: 5.05.2016).
BOOKKEEPING AND REPORTING
Comparability of reporting information
Tkachuk N.V., candidate of economic Sciences, associate Professor, Department of accounting, analysis and audit Saint-Petersburg state University of Economics
Annotation. In article the qualitative characteristic of the reporting – «comparability» is considered. Requirements to comparability of reporting information are analysed. The reasons interfering achievement of comparability of the reporting are allocated. Ways of achievement of comparability of the reporting are proved. The role of IFRS in achievement of comparability of the reporting of the different organizations is analysed.
Keywords: qualitative characteristics of information, comparability, accounting financial statements.
References:
1. Dontsova. L.V., Karzaeva, N.N. Sravnitel'nyy analiz finansovogo sostoyaniya i rezul'tatov deyatel'nosti organizatsiy APK // Buhuchet v sel'skom hozyaystve. – 2012. - ¹ 7. - S. 26–34.
2. Dontsova L. V., Nikiforova N. A. Assessment of the reliability of indicators of financial statements in comparative financial analysis of the enterprises// Scientific research financial Institute. Financial journal – 2009.-¹2.S.129-138
3. Karzaeva N.N. Ensuring the reliability of indicators of financial reporting//Accounting. – 2011.- ¹. 12.- P. 16-20
4. Kovalev V. V., Kovalev Vit.In. Financial reporting and analysis (the basis of the maintenance of balance), - M: TK Valby, Publishing house Prospect, 2004. - 432 p.
5. Pyatov M. L., Karsaev N. N. Reality and Convention in accounting // Accounting. – 2011.- ¹. 7.- S. 97-100
6. Karzaeva N.N. Ozenka kak instrument dostijeniy sopostavimosti pokazatelei buhgalterskoi otcetnosti. Dis…d-rà ekon. nayk. – CPb.: Izd-vî CPbGUAF, 2006. – 338 s.
7. Soloveva Î.V. Ìåjdunarodnie standarti finfnsivoi îtcetnosti. Konceptualnie ocnovi podgotovki i predctavleniy finfnsivoi îtcetnosti. – Ì.: Ekcmî, 2010. – 288 s. – (Ceria "Polnii kyrc ÌÂÀ").
Reservation for liabilities as an effective tool of accounting financial information unitary enterprise
Bazhenov À.À., Ph.D., associate professor, assistant professor of «Accounting, finance and service» Vladimir State University named after Alexander G. and Nicholas G. Stoletovs Vladimir, a doctoral student of Nizhny Novgorod State University. NI Lobachevsky, a certified consultant on taxes and dues category I, a member of the Chamber of Tax Advisers of Russia, certified auditor (single audit), member of the Russian Collegium of Auditors, a professional accountant, member of the Institute of Professional Accountants and Auditors of Russia
Mizikovsky I.E., Doctor of Economics, professor, head of «Accounting» of Nizhny Novgorod State University. NI Lobachevsky
Ànnotation. Consumption of resources by enterprises of the real sector of the economy is a complex-structured process that involves a number of risks, caused by, inter alia, taking place macroeconomic crises. One of the most effective tools for risk mitigation is redundancy costs. Research conducted by the authors revealed the contradiction between regulatory redundancy and its practical implementation. This article discusses solutions to this problem for the state (municipal) unitary enterprises, determined the possibility of its legal regulation.
Keywords: redundancy costs, estimated liabilities, commercial organization, government (municipal) unitary enterprise corporate governance.
References:
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ACTUAL THEME. MANAGEMENT OF RISKS
Internal audit the estimated values of reserves and obligations as instrument of government of the corporate risks
Kazakova N.A., head of the Department of analysis of economic activity, Russian University of Economics named after G.V. Plekhanov
Chikurova S.S., Chief Accountant of Trading house Abrau Durso, graduate student of department of economic analysis, Russian Economic University n. G.V. Plehanov
Annotation. The authors consider internal Audit as the tool of corporate management, which ensures the estimation of the effectiveness of the system of the internal check of economic activity. In the article is represented the procedure of internal Audit estimated reserves and obligations, directed toward the development of the validity of expenditures, the non-admission of their exceeding, the estimation of the authenticity of the reflection of information about the financial results of organization.
Keywords: control, corporate risks, internal Audit, control, estimated reserves, the estimated obligations.
References:
1. Rekomendacii Minfina Rossii po organizacii i osushchestvleniyu vnutrennego kontrolya. Dokument ¹ PZ-11/2013, pis'mo MF RF ot 25.12.13 g. ¹ 07-04-15/57289.
2. Metodicheskie rekomendacii po organizacii raboty vnutrennego audita v akcionernyh obshchestvah s gosuchastiem. Prikaz Rosimushchestva ot 04.07.14 g. ¹ 249. //«Konsul'tantPlyus».
3. Belousov A.I. Uchetnye aspekty rezervirovaniya riskov v kontekste mirovyh tendencij formirovaniya stoimosti biznesa.//Mezhdunarodnyj buhgalterskij uchet. 2011. ¹ 41.
4. Doncova L.V., SHaramko M.M. Sovershenstvovanie instrumentov i metodov audita ehffektivnosti intellektual'noj sobstvennosti//EHkonomicheskie i gumanitarnye nauki. -2014. -¹ 10 (273). - S. 35-45.
5. Fedchenko E.A. Institucional'nye analiticheskie aspekty i problemy dostovernosti uchetnoj informacii o razvitii biznesa. / Fedchenko E.A., Kazakova N.A. // Mezhdunarodnyj buhgalterskij uchet. 2012. ¹ 35 (233). C. 2-12.
6. Kevorkova ZH.A. Vnutrennij audit v obespechenii ehkonomicheskoj bezopasnosti biznesa. // Lizing. Tekhnologii biznesa. 2015. ¹ 5-6. S. 29-33.
7. Kryshkin O. Nastol'naya kniga po vnutrennemu auditu: Riski i biznes-processy / M.: AL'PINA PABLISHER, 2013.
8. Kazakova N.A., Efremova E.I. Koncepciya vnutrennego kontrolya ehffektivnosti organizacii. Monografiya. M.: INFRA ¬ M, 2015. DOI 10.12737/741.
9. Hlevnaya E.A., Kazakova N.A. Operativnoe upravlenie finansovymi potokami v ramkah byudzhetnoj modeli upravleniya.//Upravlencheskij uchet. - ¹ 12, 2015. M.: Finpress. S. 99-106.
10. Kazakova N.A. Finansovyj kontrolling v holdingah./ Kazakova N.A., Hlevnaya E.A., Angelovskaya A.A. Monografiya. Seriya «Nauchnaya mysl'». DOI: dx.doi.org/10.12737/13657. M.: INFRA-M, 2016.
11. Dun I. Effektivnye regulyatory ehkonomicheskoj konkurentosposobnosti./ Dun I., Ivushkina O., Doncova L. // M.: Mezhdunarodnaya ehkonomika. 2014. ¹ 2. S. 39-51.
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17. http://fd.ru/articles/8639-vnutrenniy-audit-v-rossiyskih-kompaniyah. Issledovaniya mezhdunarodnogo Instituta vnutrennego audita.
18. CHikurova S.S. Vnutrennij audit v sisteme kontrollinga biznes-processov kak mekhanizm upravleniya riskami v promyshlennyh holdingah./ CHikurova S.S., Kazakova N.A., Gendon A.L., Hlevnaya E.A. //RISK: Resursy, informaciya, snabzhenie, konkurenciya. 2016. ¹ 1. S. 214-217.
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Method of risk assessment of financial and economic activity of companies in the management accounting
Bykova I.V., Kotlas branch Admiral Makarov State University of Maritime and Inland Shipping, senior Lecturer
Annotation. The relevance of article topics dictated by the urgent need to study the issue of risk assessment of financial and economic activity of the enterprise in a management accounting system, which clearly outlined the acuteness of this problem in Russia. Out of this situation is possible only in the case of the developed methodology for assessing the risks of financial and economic activity, which will provide high profitability of the company.
In a market economy, the decision-making process at all levels takes place in an environment where the end result is unknown activity. Consequently, there is confusion and uncertainty, and the risk increases, respectively, there is a danger of failure and unexpected losses. enterprise management problem exists in any economic sector. In this regard, the formation of affordable for the majority of enterprises specialists of risk assessment methodology, the development of practical recommendations for reducing and minimizing risk is by far the pressing problems of Russian enterprises.
Keywords: risks, management accounting, analysis of an enterprise, the assessment.
References:
1. Bykova I.V. Razvitie sistemy upravlencheskogo ucheta riskov finansovo-hozjajstvennoj dejatel'nosti predprijatija. Avtoreferat dissertacii na soiskanie uchenoj stepeni kandidata jekonomicheskih nauk. Ekaterinburg. – 2015.
2. Vahrushina M.A., Ljal'kova E.E. Uchetnaja politika upravlencheskogo ucheta: metodika formirovanija, praktika primenenija. – M.: Jekonomist, 2008. – 205 s.
3. Lepeshkina M.N. Metodologicheskie aspekty ocenki riskov // Menedzhment v Rossii i za rubezhom. 2001. ¹ 6. – S.88-98.
4. Lisicina E.V., Tokarenko G.S. Formirovanie kompleksnoj sistemy upravlenija riskami // Finansovyj menedzhment. 2013. ¹2. – S.35-54.
5. Markar'jan Je.A., Markar'jan S.Je., Gerasimenko G.P. Upravlencheskij analiz v otrasljah. – 3-e izd., pererab. i dop. – M.: KNORUS, 2009. – 304 s.
6. Pashigoreva G.I., Savchenko O.S. Sistemy upravlencheskogo ucheta i analiza. SPb.: Piter, 2002. – 176 s.
7. Pozdeev V.L., Sharipova A. Rol' uchetnoj politiki v formirovanii finansovyh rezul'tatov // Innovacionnoe razvitie jekonomiki. 2015. ¹ 2 (26). - S. 139-141.
8. Polozova A.N., Brjanceva L.V. Upravlencheskij analiz v otrasljah. – M.: KNORUS, 2008. – 336 s.
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