The Economic Essence of the Categories of «Costs», «Revenues» and «Financial Results» in Ensuring the Financial Sustainability of Enterprise

Анотація

The article determines that in the process of management the enterprise seeks to ensure financial and economic efficiency, which requires increasing its financial sustainability through the coordination of the work of all divisions of the enterprise in order to achieve the best possible financial results. Analysis of the financial sustainability of the enterprise is an important element of financial management and audit, which is based on the indicator of financial results and the factors influencing its size and dynamics of change. Therefore, information on the scientific interpretation of these concepts was summarized. Taking into account the given variants of interpretation of the concept of «revenues» by economists, it is substantiated that most of them allocate economic and financial benefits as the basis of this category. At this, some of the scholars emphasize the relationship between revenues and the assets of the enterprise or the capital of the organization, as well as with the efficiency of production. Based on the results of the generalization of approaches to the interpretation of the category of «costs», it was concluded that almost all scholars agree that costs are expressed in both monetary and material resources. Moreover, some scholars additionally distinguish the financial and investment spheres in terms of cost formation. An important aspect in understanding the essence of costs is the interpretation of this category as a decrease in economic benefits in the future. Further, economists interpret the category of «financial results» in different ways. It has been determined that modern economists mainly distinguish the synthesized theory of profit, according to which profit is revenues from the use of economic resources (factors of production). Also, financial results can be considered in the context of the value of capital, or the monetary estimation of the results of the enterprise’s work, its profitability. Accordingly, summing up the approaches of scholars to the interpretation of costs and revenues of enterprise, allowing to calculate the financial result, it can be determined that the latter is a rather complex and multidimensional category.

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