VUZF Review <p><strong>Focus and Scope:</strong>&nbsp;finance, financial markets, banking, marketing, insurance, accounting and control, business, entrepreneurship, application of mathematics and ICT in economics.</p> en-US (Ivan) (Ivan) Fri, 02 Apr 2021 11:28:54 +0300 OJS 60 Forecasting the state of agricultural enterprises based on the results of economic diagnostics <p>This article is devoted to the study of information support and methodological tools for economic diagnostics of agricultural enterprises, based on the results of which the cost of resource potential predicted. Determined the factors of influence of the internal and external environment on forecasting the cost resource potential of agricultural enterprises. The methodological toolkit for forecasting the cost resource potential of agricultural enterprises used, taking into account the extrapolation of indicators and the coefficient of change. Built the economic-mathematical models for forecasting the general potential of agricultural enterprises in Ukraine. Proposed the scheme of forecasting the state of agricultural enterprises and complex information support the stages of making managerial decisions by the management of agricultural enterprises. For agricultural enterprises of Ukraine, promising directions for the development of economic activities are proposed.</p> Olesia Bezpartochna Copyright (c) 2021 VUZF Review Thu, 25 Mar 2021 00:00:00 +0200 Methods of assessing the impact of dollarization on economic development <p>The article considers the transformation of the money function as a consequence of the impact of dollarization on the economic development of countries in the global context. The economic substantiation of the process of dollarization of the economy, which is connected with the function of money, is proved. The influence of dollarization on the macro – and macro levels of the economy is substantiated. Approaches to methods of estimating dollarization on the economic development of the country in the context of globalization are proposed.</p> <p>The article defines the degree of dependence of the machine-building industry of Ukraine on the processes of dollarization of the world economy through the use of the effect of transferring the dynamics of changes in exchange rates to the price dynamics in the machine-building industry. Using the ARIMA model, the effect of transferring the exchange rate to prices for mechanical engineering products is proved. The expediency of using the ARIMA forecasting model to predict the further spread of the effect of the change in exchange rates on prices.</p> <p>An approach is proposed to determine the sensitivity of domestic prices for the products of engineering enterprises to changes in the exchange rate through modified elasticity coefficients. It was determined factors affecting the size of the effect of transfer of the exchange rate on domestic prices for the products of machine-building enterprises.</p> Оlena Chukurna Copyright (c) 2021 VUZF Review Thu, 25 Mar 2021 21:05:22 +0200 An innovative approach to managing the interest margin: economic and statistical analysis of the resource base of a commercial bank <p>The dynamics of interest income, that is, the difference between the average rates on active and passive operations of the bank, has been analyzed. It was found that the increase in the share of term deposits in the total amount of the bank's mobilized resources is positive, despite a temporary decrease in net income from bank interest. It has been substantiated that the deposits of legal entities are a stable part of the attracted resources. Long-term deposits allow lending for long periods and at high interest rates. The purpose of the article is to improve an innovative approach to managing the interest margin based on the economic and statistical analysis of the bank's resource base. Literature processing shows that banks pay insufficient attention to the methodology for assessing interest income. The relevance of the article is determined by the value of interest income as one of the main factors that determine the profitability of the bank's lending operations. The methods of comparison, grouping, detailing of final indicators, calculation of relative and average values are used. The scheme of the bank interest margin management process is proposed. Calculated the average size of credit investments, the total amount of assets. The average price of credit resources was calculated based on the price of a particular type of resource and its share in the total amount of funds mobilized by the bank. The average level of interest on active and passive operations of the bank was determined based on the received interest income. The size of interest income, trends and factors of its change have been determined. The indicator of the minimum interest income was calculated on the basis of which the bank covers expenses, but does not ensure profit. The level of profitability of bank loan operations has been determined. It has been established that a change in interest income can be caused by an increase or decrease in rates on active operations of the bank, interest on attracted resources and the share of the latter in the total volume of credit investments. The average real price of demand deposits and time deposits attracted by the bank was determined on the basis of the market price of these resources and adjustments for the rate of the required reserve deposited with the NBU. A mechanism for the formation of bank interest income is proposed. The expected size of the minimum profit margin and the level of profitability of the bank's lending operations are presented. The approximate minimum price of credit investments was determined based on the level of costs and the pledged amount of profitability of the bank's lending operations for the coming period. The possibility of reducing the spread of rates of attraction and rates of placement of resources in the bank through the use of the proposed funding mechanism has been scientifically substantiated.</p> Svitlana Andros, Shichao Chang Copyright (c) 2021 VUZF Review Thu, 25 Mar 2021 21:17:35 +0200 Social Entrepreneurship as an Instrument of Development of Small and Medium Entrepreneurship in Ukraine <p>The article describes the features of social entrepreneur development as a way of government regulation of labor market. Different ways of definition “social enterprise” are analyzed. During the research, the models of improvement and development about regulation of this activity in other countries were analyzed. Analyzing the modern models of social entrepreneurship in other countries demonstrates how it is popular and deals with the problems of unemployment and social safety. In the current situation in Ukraine this model of entrepreneurship is not so popular. For the changing situation we described and proposed the mechanism of development of social entrepreneurship. For the more active development of this entrepreneurship model we have proposed: to create, pass and apply the law about social entrepreneurship, which can measure the criteria for this type of activities and the law mechanism to support social entrepreneurship; to spread information about this type of activity through the informational channels; to develop and establish programs about professional education for people, who would like to work at the social entrepreneurship area. The characteristics of social entrepreneurship were compared, charitable organizations and traditional business. Features and criteria, which characterize the social entrepreneurship are described. Experience of developing social entrepreneurship in other countries and the benefits of involving labor force in Ukraine are compared. The methods used for research are comparing and analyzing. The main goal of social entrepreneurship is producing goods and services for solving social problems and searching the ways of improving the economic situation in Ukraine.</p> Oleksandra Lysiuk, Igor Britchenko Copyright (c) 2021 VUZF Review Thu, 25 Mar 2021 22:05:12 +0200 Adapting Russian Accounting to the International Standards: Models, Algorithms, and Amendments <p>The article deals with the impact of the Covid19 pandemic on accounting and financial reporting in terms of the presentation of certain items in the income statement, the assessment of accounting judgments, key sources of uncertainty, and business continuity assumptions. The research focuses on the features of amendments, algorithms, and principles for implementing the provisions of IFRS in 2020: IAS (1) The authors proposed an algorithm for transforming (adapting) financial statements from RAS to IFRS. The article, systematized the approaches representing the key areas in the adaptation of the relationships that create the accounting environment for the successful implementation of the objectives of the transition to IFRS. An integrated approach to the adaptation stages takes into account the external and internal environment of the elements of the transformation of financial statements.&nbsp; The stages interact and are set up for the result of a successful transition to the formation of financial statements in accordance with IFRS. The authors note that the factors affecting the efficiency, reliability and high operational effect of the stage depend on many variables.&nbsp; The authors have developed a model of procedures for accounting and control assessment of elements compatibility for the adapting, and unifying stage of transition from RAS to IFRS.</p> Aleksandr Troitskiy, Roman Blizkiy, Irina Rakhmeeva Copyright (c) 2021 VUZF Review Thu, 25 Mar 2021 22:24:29 +0200 The ways of the value assessment the enterprises and the micro-enterprises <p>The paper concerns the assessment of the value of the enterprises, including the micro-enterprises. There are not so many publications regarding the micro-enterprises in comparison to the matters of the assessment of the big enterprises. Whereas, the importance of the microenterprises in the domestic, regional and global economy is crucial. In this paper, it is discussed the core of the assessment of the value of the enterprises and its aim and also the characteristics of the assessment of the market value of the micro-enterprises including its genesis. Furthermore, there are also alleged the functions of the assessment of the market value of the micro-enterprises, and also its methods applied in Germany and in the USA. The paper also presents the basic group of methods discussed in the Polish literature. It is presented the detailed review of the chosen ways of the assessment of the values of the enterprises and micro-enterprises including the demonstration of the particular quantitative tools (mathematical formula) used in the assessment practice. There are among others the balance transaction method, and also different methods: profitable, market, cost, property and mixed. In the final conclusion, there are included the motions concerning the assessment of the market value of the micro-enterprises due to the specific role of their functioning in the economy.</p> Maria Borowska Copyright (c) 2021 VUZF Review Thu, 25 Mar 2021 23:00:07 +0200 Marketing strategy of territorial branding in the context of sustainable development <p>The article considers aspects of formation of marketing strategy of territory branding, yak the basis of strategic development. Attention is paid to the components of the strategy of sustainable development and its interaction with the elements of the territorial product and its influence on the image of the territory. A strategic analysis of the territory was carried out on the example of Odessa, which made it possible to form priorities for the strategic development of the territory. A marketing study was conducted by residents of Odessa regarding their attitude to the existing image of the city. Two main clusters of city residents were identified, depending on their perception of the image of the territory of residence. Proposals for the development of the territory's brand have been formed. Improved classification of marketing strategies for branding territories is proposed. This approach made it possible to formulate branding strategies for the territory in accordance with the goals of sustainable development. The classification has been expanded through the following positioning strategies: strategy of socio-economic image; strategy of environmental friendliness of the territory; strategy of a unique image of the territory; strategy for the image of a territory with a high level of comfort and safety; strategy of the territory's image as an innovation hub. This allows you to form strategies for branding the territory in accordance with the goals of sustainable development of the territory.</p> Оlena Chukurna, Dmytro Nikolaiev Copyright (c) 2021 VUZF Review Thu, 25 Mar 2021 00:00:00 +0200 Banking innovations: security technology solution <p>The article identifies the essence of the concept of banking innovations and their role in the financial security of banking institutions. Features of development of technological banking innovations in Ukraine, including in the conditions of influence of COVID-19 are considered. The characteristics of banking innovations are considered, the criteria to be met by banking innovations both on the part of the client and on the part of the bank are identified. The classification of banking innovations according to such features as: by time aspect, by novelty, by causes of occurrence, by volume of influence, by influence on behavior, by scale of innovation, etc. is given. It is proved that the financial security of a banking institution should provide protection of banks from the impact of external and internal threats, as well as minimize the level of their negative impact. The basic principles of financial security of banking innovations in order to ensure the stable development of the latter are described. It is established that the most relevant and in demand in the market in the development of coronavirus infection were such technological innovations of remote capabilities as: contactless payments, online services, mobile banking applications, electronic money transfers, virtual cards. The peculiarities of the use of technological innovations by banking institutions in Ukraine and their impact on the security of banking institutions and customers are noted.</p> <p>In order to conduct the study, such general scientific and specific research methods were used as: the logical method, the method of analysis and synthesis, the system method, the method of theoretical generalization, the grouping method, the expert method and the method of logical analysis.</p> Olena Stashchuk, Rostyslav Martyniuk Copyright (c) 2021 VUZF Review Thu, 25 Mar 2021 23:22:07 +0200 The development of integrated business structures of Ukraine on innovative and investment basis <p>The article considers the directions of the development of integrated business structures based on innovation and investment in the agro-industrial complex of Ukraine. The paradigm of the development and functioning of integrated business structures of the agro-industrial complex of Ukraine, which intensify the innovative-investment process and network interaction of public-private partnership in a competitive environment, has been implemented. It is proved that the impact of public-private partnership on innovative-investment development and the creation of real value of business structures of the agro-industrial complex should be considered for different periods associated with the appropriate levels of evaluation of their effective cost-oriented platform. The efficiency of the functionality of business structures of the agro-industrial complex, which is characterized from the standpoint of time, level and integrated approaches, is determined. The temporal approach provides the allo-cation of three periods – short-term, medium-term and long-term, for each of which specific criteria for assessing the effectiveness of functionality is determined. A block diagram of qualitative criteria for evaluating the effectiveness of business structures in the introduction of innovations and investments in agriculture from the standpoint of the interests of a group of stakeholders in public-private partnership on a time basis is presented. The comparative characteristics of innovative-investment activity of business structures in high- and low-tech branches of the agro-industrial complex are determined. A model of integrated interaction of network interaction between business structures of the agro-industrial complex, institutes of agricultural development and stakeholders in public-private partnership has been developed. The institutional model of subsystems of the functional mechanism of harmonization of interests of business structures of agro-industrial complex and the state is offered. It is proved that the harmonious state regulation of investment activities of large agricultural producers (agricultural holdings) should be based on administrative, legal, organizational and economic methods and ensure compliance with norms and rules in the investment sphere at the level of relevant structural and functional institutions.</p> Natalia Trusova, Oksana Hryvkivska Copyright (c) 2021 VUZF Review Thu, 25 Mar 2021 23:30:28 +0200 Methodological basis of statistical analysis of foreign trade <p>The article is devoted to the study of methodological bases and information-analytical aspects of foreign trade statistics. The subject and main tasks of foreign trade statistics are determined. The general principles of formation of the official statistical methodology are considered. Methods of research of structure and dynamics of foreign trade are systematized. As a result, there are two main groups: non-formalized methods (qualitative) and formalized methods (quantitative). A system of indicators used for analytical characterization of foreign trade is proposed. The proposed system is the most informative for assessing foreign trade in order to form management decisions to solve the identified problems and increase the relevant performance indicators.</p> Ilona Dumanska, Olha Matviiets Copyright (c) 2021 VUZF Review Thu, 25 Mar 2021 23:40:57 +0200 Analysis of approaches to determining the cost of production <p>The article is of interest to managers and scientists involved in the study of dealing with determining the cost of production in all economic activity areas, regardless of the organization’s ownership. The article has a theoretical nature and aims to generalize the current understanding of the formation of production costs. The article aims to analyse the production cost in further search for scientifically sound ways to clarify it. To achieve the article's goal, an analysis of many publications from the subject publication was conducted. A large number of scientific papers in this field have been established. The article analyses the components of product formation, briefly characterise them. It is determined that the cost of marketable products is calculated on the basis of cost elements reflected in the estimate. The question of the formation of the prime cost of production of the enterprise is investigated. It is determined that the cost of production is one of the most multifaceted indicators of economic activity of enterprises that characterises the work of enterprises and organisations. The article emphasises that the cost of products (services) comprehensively characterises the use of all enterprise resources of the enterprise, it is one of the most critical indicators of production efficiency at the enterprise, and it is reflected. The article is the starting point in a thorough study of the formation of production costs to improve the existing methodology of the subject area.</p> Anatolii Loishyn , Oleksandr Shevchenko , Ivan Troyan , Volodymyr Mazur Copyright (c) 2021 VUZF Review Thu, 25 Mar 2021 23:52:13 +0200 National Audit Authorities and their impact on the assurance level of the EU Cohesion Policy spending <p>The European Union’s Cohesion Policy plays a key role to reduce development disparities between regions in the EU in order to increase economic, social and territorial cohesion. Cohesion Policy in the EU is planned and implemented within a multilevel governance structure embracing a wide range of stakeholders. For the 2007-2013 programming period, a formal three-level control structure was introduced at national level for the first time, with the audit authority as the first “independent” audit layer. Preliminary studies indicate that the introduction of the AAs has been a milestone in making the management and control system of the EU’s budget implementation more robust, thus contributing to protect the EU budget from ineligible spending. This research paper analyses whether the work of the national audit authorities in the framework of the EU’s Cohesion Policy has an effect towards the assurance level of the EU spending in this area. The analysis links the development of the irregular spending with the development of the tasks entrusted to the audit authorities. The main objective of the article is to conclude on whether the evolution of the responsibilities of the audit authorities contributed towards a more robust management and control system for the delivery of Cohesion Policy.</p> Marcel Bode Copyright (c) 2021 VUZF Review Tue, 30 Mar 2021 00:00:00 +0300