Theoretical principles of formation of financial control at the enterprise

Pinti Anastasiia
postgraduate student of the Department of Financial Management and Stock Market, Odesa National Economic University, Odesa, E-mail: pintianastasiia@gmail.com, ORCID ID: https://orcid.org/0000-0003-2432-6550

Cite this article:

Pinti A. (2022) Theoretical principles of formation of financial control at the enterprise. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Teoretychni zasady formuvannia finansovoho kontrolinhu na pidpryiemstvi; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 9-10 (298-299), pp. 81-86.

Abstract

The paper presents the theoretical foundations of the formation of controlling at the enterprise. The definition of the term "controlling" as a mechanism of enterprise management in order to increase profit is provided. The work uses such methods as: analysis and evaluation, comparison, indexation and deduction, graphic method. The relevance of this management tool is determined, which allows the company to reliably navigate market relations compared to the previously available planning and accounting systems. The existing variety of definitions and views suggests that controlling is a dynamic field that develops in the direction of the theory and practice of organization management. It was established that during the practical implementation of the management system and its tools, a number of factors may arise that can lead to the effective implementation of the management system. It was noted that the constant development of economic relations and socio-economic systems also determines the development of approaches to understanding the company's effectiveness. The article describes the evolution of the main stages of the formation of the concept of system management based on the implementation of controlling at the enterprise. The main factors that can affect the effectiveness of the implementation of enterprise management are given. The factors influencing the formation of the strategy for the implementation of controlling at the enterprise are presented. The practical significance of this article lies in the fact that the implementation of a modern concept of financial management based on controlling can help the enterprise achieve the tasks and goals set by it, ensure compliance with the formed strategies and determines the effectiveness of operational and tactical plans for enterprise management.

Keywords

financial controlling, enterprise management, financial management, control.

JEL classification: D800, D810, D890; DOI: 10.32680/2409-9260-2022-9-10-298-299-81-86

UD classification: 33:334.02

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