Development of the financial controlling strategy of PJSC FIC «Zahidukrtrans»
Students Name: Shchur Nataliia Pavlivna
Qualification Level: magister
Speciality: Finance, Banking and Insurance
Institute: Institute of Economics and Management
Mode of Study: part
Academic Year: 2023-2024 н.р.
Language of Defence: ukrainian
Abstract: In the theoretical part of the first section of the work, the interpretation of the essence of financial controlling was considered and the problem of developing financial controlling strategies for the enterprise was investigated. In the analytical part of the section, a financial analysis of the activities of PJSC TEC "ZahidUkrTrans" was carried out, with particular attention paid to the coefficient analysis of financial condition and a detailed analysis of the income and expenses of the enterprise, as the most important objects of controlling. In general, the balance sheet total of the enterprise in 2020 was UAH 624,257 million, in 2021, compared to the previous year, the balance sheet total decreased by -UAH 18,229 million (-2.92%) to UAH 606,028 million, in 2022, compared to the previous year, the balance sheet total increased by UAH 120,610 million (19.9%) to UAH 726,638 million. In the development of a financial controlling strategy, attention was focused on analyzing the volumes and structure of income and expenses of the studied enterprise. The main income of the enterprise is net income, and the expenses are cost of goods sold. Thus, net income in 2020 was UAH 561,183 million, in 2021, compared to the previous year, net income from sales of products increased by UAH 109,647 million (19.54%) to UAH 670,830 million, in 2022, compared to the previous year, net income from sales of products increased by UAH 285,403 million (42.54%) to UAH 956,233 million. Cost of goods sold in 2020 was UAH 494,996 million, in 2021, compared to the previous year, cost of goods sold increased by UAH 100,919 million (20.39%) to UAH 595,915 million, in 2022, compared to the previous year, cost of goods sold increased by UAH 255,057 million (42.8%) to UAH 850,972 million. As a result, the net profit of the enterprise in 2020 was UAH 51,612 million, in 2021, compared to the previous year, net profit decreased significantly by UAH 29,085 million (-56.35%) to UAH 22,527 million, in 2022, compared to the previous year, net profit increased significantly by UAH 68,793 million (305.38%) to UAH 91,320 million. The coefficient analysis made it possible to better understand the financial condition of the enterprise. According to the coefficient analysis, the enterprise is solvent, financially stable and profitable, but the level of profitability of its activities is rather unstable. The second section revealed the research and predictive direction of the study, using SWOT analysis to identify the internal strengths and external threats of the enterprise’s activities and proposed strategic directions for its financial and economic development. A simulation of the impact of currency fluctuations on the financial condition of the enterprise was carried out. Thus, using a stochastic model, it was determined that with a probability of 95%, the monthly currency losses of the enterprise will not exceed EUR 75,504. Thus, the VaR model made it possible to assess and control currency risks, which is especially important in the formation of a financial controlling system in the modern conditions of the functioning of the studied enterprise. At the end of the section, a forecast of financial indicators was made, namely, net income and expenses. According to the forecast, the financial results of the company are increasing, which is a positive trend. The recommendations section summarizes the obtained results and contains proposals for specific steps aimed at increasing financial stability and management efficiency, as the most important tasks of forming a financial controlling strategy. In particular, when forming a financial controlling strategy, it is suggested to focus attention on information support for making management decisions regarding the implementation of an investment project. This will make it possible to increase revenues and optimize the costs of the company’s operational activities. The recommendation to improve logistics led to a decrease in costs by 675.6 thousand hryvnias. It is also important for an enterprise when developing a financial controlling strategy to substantiate effective ways of minimizing currency risks. The work identifies specific ways of such minimization and suggests the use of currency risk hedging contracts. The specified recommendation will enable the enterprise to fix the exchange rate for a certain period of time and protect itself from exchange rate fluctuations and thus ensure stable financial activity. The implementation of the measures proposed in the work will allow forming the main elements of the financial controlling strategy for improving the financial condition and increasing the competitiveness of the enterprise on the market, which was presented when calculating the effect of the implemented recommendations. The object of research is the activity of a transport enterprise. The purpose of the study is to develop a financial controlling strategy of PJSC TEK ZahidUkrTrans Research goals: analysis of theoretical and practical approaches to the interpretation of financial controlling to justify the need to develop its strategy; general analysis of the financial condition of ZahidUkrTrans TEK PrJSC and detailed analysis of revenues and expenses of ZahidUkrTrans TEK PrJSC; determination of opportunities and threats and weaknesses and strengths of the enterprise; simulation of the impact of currency fluctuations on the financial condition of the enterprise; forecasting the main income and expenses; introduction of recommendations for improving income and expense management and calculation of the effect of the proposed recommendations. Keywords: Strategy, financial analysis, financial controlling, financial controlling strategy, company income, company expenses. 1. Partyn G.O. Financial management: textbook / G.O. Partyn, N.E. 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