Research and improvement of financing of foreign economic activity at Technologii dlia biznesu LLC
Students Name: Krasnokutskyi Stanislav Dmytrovych
Qualification Level: magister
Speciality: Management of Foreign Economic Activity
Institute: Institute of Economics and Management
Mode of Study: full
Academic Year: 2023-2024 н.р.
Language of Defence: англійська
Abstract: In her work, Ksenia Kvaterniuk singles out the list of forms of financing the foreign economic activity of the enterprise. The author notes that in order to ensure the economic growth of any enterprise, it is necessary to develop financial resources in order to effectively use them in foreign economic activity. [3]. Bricklayer T.V. notes that venture financing itself is connected with the development of the enterprise on an innovative basis and the increase of its export competitiveness, because it expands the possibilities of enterprises in creating new products, accelerates the course of innovation processes, increases the general scientific and technical level of production and forms a favorable competitive environment in the field foreign economic activity [4]. The object of financing shadow foreign economic activity is the income received by the subject of foreign economic relations from certain shadow operations. Among the indicators for evaluating the effectiveness of the financial and foreign exchange support sector, the average term of contracts for the supply of products and the effectiveness of the developed schemes for financing foreign economic activity can be used [1]. Pigul N.H. issues of development, methodology and organization of audit in companies, which later helped determine the priority areas of independent audit in the country [2]. The scientific works of K.O. Nazarova were also considered, which relate to the issues of the synergistic effect of the interaction of external and internal audit of the financing of foreign economic activities [5]. The object of research of this work is "Technology for Business" LLC. The subject of the study is the financing of foreign economic activities of "Technology for Business" LLC. The purpose of the work is to research and improve the financing of foreign economic activities of "Technology for Business" LLC. The main problems are the lack of control over the financing of the foreign economic activities of "Technologies for Business" LLC and the low level of involvement of counterparties of "Technologies for Business" LLC in the foreign market due to the closure of the company’s financial statements The first component of the recommended measure consists in the implementation of the model of financial controlling of foreign economic activity of "Technology for Business" LLC, which will ensure prompt response to the shortcomings of financing foreign economic activity, timely identification and reduction of risks of foreign economic activity, and carry out this process on an ongoing basis. The second measure consists in solving the issue of expanding foreign economic cooperation of "Technology for Business" LLC by introducing a transparency model of financing foreign economic activity, which will satisfy the needs of potential external counterparties, which will increase indicators of foreign economic activity As a result of the effective implementation of the recommended processes at the "Technology for Business" LLC, it is predicted that the total income of the enterprise will increase due to the reduction of currency risks, the improvement of the process of controlling the financial support of foreign economic activities, the increase of competitiveness and the increase of the number of foreign counterparties and investors. It is predicted that the absolute rate of profitability of manufactured products should increase by 1.7. The result of the implementation of the recommended measure is an increase in the company’s income by 6.4%, which definitely had a positive effect on the planned indicator. The costs of financing the foreign economic activity of "Technology for Business" LLC will be covered by the company’s revenues, without attracting additional sources of funds. Key words - foreign economic activity, financing, financial controlling, transparency, financial reporting, currency risk. 1. Bestuzheva S. (2023) Theoretical and methodological aspects of choosing the form of financial support for the foreign economic activity of the enterprise. Economy and society, (47). https://doi.org/10.32782/2524-0072/2023-47-60. 2. Dekhtyar N. A., Pigul N. G., Lyuta O. V. (2014) Management mechanism of financial support of innovative activities of enterprises. - Scientific Bulletin of Kherson State University. - Economic Sciences Series. - Vol. 7. - Part 5. - P. 9-13 3. Kvaterniuk K. A. (2012) Peculiarities of the formation of financial resources of the foreign economic activity of the machine-building enterprise. - Galician Economic Bulletin. - #1(34). - P.102-108. 4. Mulyar T. V. (2023) Venture investment as a tool for ensuring the country’s financial security [Electronic resource]. – Access mode: http://www.nbuv.gov.ua/portal/soc_gum/Evu/2011_17_2/zmist.htm. 5. Nazarova K. O. (2016) Synergy of internal and external audit: autoref. thesis for obtaining sciences. degree of Doctor of Economics Sciences: 08.00.09. Kyiv. - 40