UDK 33 Экономика. Экономические науки
Financial analysis is important for effective management: it provides growth reserves and eliminates those problem areas that can decrease key financial indicators and result in bankruptcy. The present research featured theory and practice of financial analysis of an enterprise. The paper represents a case study of Kuzbassrazrezugol OJSC, one of the leading coal mining enterprises in the country (Kuzbass, Russia). The research objective was to analyze its financial status, identify problem areas, and propose solutions. The research employed coefficient, vertical, and horizontal analysis, as well as general methods of analysis, synthesis, grouping, and generalization of data. The article introduces authentic approach to the term “financial status” and gives various scientific interpretations of the term. The paper focuses on factors, key indicators of financial analysis, and degrees of financial stability. Financial analysis includes assessment of financial stability, business activity, liquidity, and profitability. The author compiled a list of indicators for each section of financial analysis. The case study revealed that the company under analysis has a fairly strong financial position. The list of minor problems revealed included: superiority of short-term financial sources; high share of borrowed funds in the overall structure of funding sources; high share of non-current assets in the structure of the company’s property; high volume and low turnover of receivables. For each problem, the author proposed an appropriate solution. The financial analysis revealed problem areas and provided guidelines for further long-term effective development. The article owes its scientific novelty to the case study which revealed peculiarities in strategies for managing the financial status of coal mining enterprises.
financial and economic activities, financial stability, liquidity, business activity, profitability
1. Mukhacheva A. V. Assessment of financial stability and liquidity of the coal-mining enterprises. Innovation convention "Kuzbass: education, science, innovation": Proc. Innovation Convention, Kemerovo, December 14, 2018. Kemerovo, 2018, 603–607. (In Russ.)
2. Rozhentsova I. A., Reshetnikova A. I. The approaches of various authors to the definition of the concept of "financial and economic activity". Auditorskie vedomosti, 2017, (3): 31–37.
3. Krinichanskaya E. P., Chabanova M. K. The analysis of liquidity and solvency as elements of the analysis of a financial condition of the enterprises of small business (on an example of Primorye Territory). Mezhdunarodnyi studencheskii nauchnyi vestnik, 2018, (5). Available at: http://www.eduherald.ru/article/view?id=18799 (accessed: 10.09.2019). (In Russ.)
4. Terlovaya V. I., Samusenko A. N. Analysis of business activity of enterprise in the system of complex analysis of the financial condition of the enterprise. Vektor ekonomiki, 2019, (2). Available at: http://vectoreconomy.ru/images/publications/2019/2/economicsmanagement/Terlovaya_Samusenko.pdf (accessed: 10.09.2019). (In Russ.)
5. Gubertov E. A., Gribkova D. O. Economic essence, principles and tasks of the analysis of the financial status of an enterprise. Territoriia nauki, 2017, (6): 101–106. (In Russ.)
6. Kovalev V. V., Volkova O. N. Analysis of the economic activity of the enterprise. Moscow: TK Velbi; Prospekt, 2007, 424. (In Russ.)
7. Bazyuk N. Yu., Kremsal G. A. Ways to increase an enterprise financial stability of on the basing on the assessment of its financial state. Rossiyskoe predprinimatelstvo, 2013, (19): 140–146. (In Russ.)
8. Azarenkova G. M. Business finance. Moscow: IUNITI, 2014, 299. (In Russ.)
9. Chunkaeva A. K. Analysis of the financial status and reserves of increasing enterprise profits. Evraziiskii Soiuz Uchenykh, 2018, (1-1): 64–68. (In Russ.)
10. Balabanov I. T. Fundamentals of financial management. 3rd ed. Moscow: Finansy i statistika, 2001, 525. (In Russ.)
11. Yarullin R. R., Altdinova G. Z. Current issues in the analysis of financial condition of the organization. Nauchno-metodicheskii zhurnal "Nauka i obrazovanie: novoe vremia", 2018, (1): 10–12. (In Russ.)
12. Veretennikova Iu. Iu. Improving the analysis of the financial status of a commercial organization. Vestnik sovremennoi nauki, 2017, (3-1): 67–70. (In Russ.)
13. Matiash I. V. Indicators of systemic efficiency in assessing the creditworthiness and stability of an enterprise in a crisis. Ekonomicheskii analiz: teoriia i praktika, 2010, (13), 2–9. (In Russ).
14. Gilmanova Yu. R. Analysis of the financial status of the enterprise: methods and models. Nauchnyi zhurnal, 2017, (10): 36–38. (In Russ).
15. Bobyleva A. S. Theoretical and methodological aspects of the essence of the financial stability of the enterprise and the criteria for its evaluation. Ekonomicheskie nauki, 2010, (62): 374–379. (In Russ).
16. Plaskova N. S. Strategic and current economic analysis. Moscow: Eksmo, 2010, 633. (In Russ).
17. Fedorovich T. V. Information support of financial management as one of the management functions in large business structures. Finansy i kredit, 2008, (21): 20–27. (In Russ).
18. Kurbanaeva L. Kh., Rudolf V. D. Liquidity analysis as the most important aspect of the analysis of the organization. Aktualnye voprosy sovremennoi ekonomiki, 2019, 1(3): 151–155. (In Russ).
19. Kholodov Iu. V. Analysis and assessment of the solvency and liquidity of the organization. Akademicheskaia publitsistika, 2019, (10): 92–99. (In Russ).
20. Burtsev A. L. Analysis of organisation's financial stability: theory and field of application. Vestnik Astrakhanskogo gosudarstvennogo tekhnicheskogo universiteta. Seriia: Ekonomika, 2010, (1): 254–257. (In Russ).
21. Kaluzhskaia L. N. Some aspects of liquidity management of companies in modern software products. Informatsionnye tekhnologii i sistemy: upravlenie, ekonomika, transport, pravo, 2013, (1): 83–86. (In Russ).
22. Varlamov A. V. Organization of effective management of liquidity and solvency of the enterprise. Informatsiia i obrazovanie: granitsy kommunikatsii, 2013, (5): 158–159. (In Russ).
23. Mukhacheva A. V., Gadzhigasanova N. S., Kuznetsova T. A. Managing the capital structure of the largest Russian coal producers. Ekonomicheskii analiz: teoriia i praktika, 2019, 18(2): 353–367. (In Russ).