DIAGNOSTIC MODELS OF BANKRUPTCY OF LARGE ENTERPRISES

Анотація

The paper provides a theoretical justification of methodological approaches to financial analysis. The essence and main tasks of financial analysis are determined. An algorithm for analyzing the financial state, its main stages, has been formulated. According to the reliable accounting reports of JSC "DNIPROAZOT", the presented methodology of financial analysis has been tested. The main principles and tools for conducting a comprehensive analysis of the financial state have been studied. In the process of carrying out the research, we came to the conclusion that the assessment of the financial state of the enterprise should be carried out using a complete system of both primary (absolute) and relative (secondary and average) indicators. The structural and logical scheme of financial analysis involves the assessment of dynamic changes in the composition of assets in both horizontal and vertical analysis. Such a priori analysis of assets in dynamics made it possible to formulate conclusions regarding the effectiveness of the use of assets in ensuring the production process and to identify atypical increases in non-current assets. When assessing the composition of assets of a large enterprise, an analysis of their ability to be converted into cash (liquidity) is a necessary condition. A further assessment of the composition of own and borrowed funds is a logical continuation of such an analysis. We support the opinion that it is the optimal ratio of own and borrowed funds that ensures the financial stability of the enterprise. Having created analytical tables, they assessed the financial stability of a large enterprise at the beginning and end of the studied period. Analytical conclusions are formulated on the basis of calculations. The final stage of the research is the diagnosis of bankruptcy. The effectiveness of the Altman and Taffler Index bankruptcy models has been proven. The resulting models made it possible to complete analytical conclusions and forecast the economic activity of the enterprise in the near future. The use of different bankruptcy models made it possible to make the same analytical conclusions. Taking into account the unstable situation, both economic and political, the emphasis was placed on the influence of external factors. This approach to conducting financial analysis should take into account all possible options for predicting the probability of bankruptcy of large enterprises. In the work according to the reliable financial statements of PJSC "Dnipro Metallurgical Plant" a study of the peculiarities of the organization of accounting for the production of by-products of metallurgical products and considered the principles of formation of production costs in the system of accounts. The characteristic of organizational and administrative structure of the metallurgical enterprise is given; the type of activity and assortment of production output are estimated. The basic principles, elements of the accounting policy of the enterprise are studied and the order "About the organization of the account of the metallurgical enterprise" in the part of accounting display of finished metallurgical production is characterized. It is noted that the organization of accounting at a large metallurgical enterprise is formed using an obsolete system of registers – journals-orders, which were introduced into the accounting system in the last century. This approach to the organization of accounting is not a violation of applicable law, but too time-consuming, some transactions in different journals are duplicated, and their paperwork requires additional costs. Regulations on the accounting policy of the plant were approved in accordance with the NP (S) BU and taking into account the provisions of international financial reporting standards IFRS. In the course of the research it was concluded that the accounting of by-products of blast furnace production is carried out simultaneously with the production of basic metallurgical products. Having formed the logs of accounting entries, it is established that by-products are accounted for from production as finished, and then sent to bring to a certain condition back into production. This approach to accounting is irrational and can not adequately reflect the production process. Therefore, the accounting algorithm of improvement of correspondence of the account of by-products is offered in work and accounting records of formation of reliable cost of by-products (slag) are developed.

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