Economic activity of any enterpriseincludes several components. One of its components is financial policy. It is expressed in the totality of activities that are carried out by the owner, labor collective, administration (in accordance with the form of ownership and type of business). These activities constitute the instruments of financial policy. It is being carried out in order to find and apply means for solving basic tasks and implementing main goals.
A set of measures contains the formulationconcepts, scientifically grounded, and aimed at the formation of activities, the establishment of key areas for the use of funds. Current financial needs affect the duration of these activities. Equally important is the study of the demand for services and products, the assessment of various (material, intellectual, labor, information) resources of the organization, the prediction of performance. Thus, an enterprise can implement medium-, long-and short-term financial policy.
The uses of funds are established withtaking into account the set goals, the developed concept, the position of the organization in the market. Short-term financial policy contributes to the most complete and effective application and increase financial potential. It reflects the purposeful use of the means by which tactical and strategic tasks are solved, defined by the charter (constituent documents) of the organization.
Краткосрочная финансовая политика позволяет strengthen the position in the market for services (products), achieve optimal sales, profitability and profits, maintain solvency and liquidity balance.
In high enough level conditionsinflation, instability of the economic environment, non-payment crisis, many organizations are forced to take measures aimed at survival. Short-term financial policy contributes to the solution of current problems, however, at the same time it forms some contradictions between the fiscal interests of the government and organizations. Contradictions are also noted between the profitability of production and the cost of foreign borrowing, the stock market and equity capital yields, and so on.
It should be noted the versatility of the content of financial policy. It consists of several main links. Among them should be highlighted:
1. The development of an acceptable concept of cash flow management of the organization, which will provide protection against commercial risk and high profitability.
2Determination of the main directions for the application of financial resources for the upcoming period. At the same time, the possibility of developing production and trading activities, as well as the macroeconomic situation (discount rate, taxation, depreciation rates, etc.) is taken into account.
3Implementation of practical activities that are aimed at achieving the goals. These include, in particular, financial control and analysis, evaluation of real investment projects and financial assets, the choice of the organization’s financing method, and others.
The combination of these three main componentsis the content of activities related to the formation and use of monetary resources. The development of an effective system of financial regulation is associated with the emergence of problems related to the harmonization of the development of the interests of the organization, the availability of an optimal amount of financial resources, as well as maintaining solvency at a high level.
