Mechanism of Financial Planning Optimization in the Corporations

International Journal of Management, 11 (5), 2020, pp. 846-857.

12 Pages Posted: 14 Jul 2020

See all articles by Tetiana Mayorova

Tetiana Mayorova

Department of Corporate Finance and Controlling, SHEE ―Kyiv National Economic University named after Vadym Hetman‖, Kyiv, Ukraine

Maksym Zabashtanskyi

Department of Personnel Management and Labour Economy, Chernihiv National University of Technology, Сhernihiv, Ukraine

Olena Zhuk

Department of Economics and Business Finance, Kyiv National University of Trade and Economics, Kyiv, Ukraine

Iryna Petrenko

Department of Corporate Finance and Controlling of SHEE ―Kyiv National Economic University named after Vadym Hetman‖, Kyiv, Ukraine

Liudmyla Zveruk

Department of Finance, Banking and Insurance, Kyiv Cooperative Institute of Business and Law, Kyiv, Ukraine

Iryna Babich

Department of Accounting and Auditing, Lutsk National Technical, Lutsk, Ukraine

Date Written: June 20, 2020

Abstract

The authors proposed the concept of constructing a coordination centre for planning, covering the main aspects of the formation of a single financial plan for the corporation. In the course of scientific research, an original system for the creation of a single financial plan was developed, which provides automation of the planning, analysis and adjustment of financial plans. The authors calculated the economic efficiency and performance of the proposed Center on the example of a real corporation. The research hypothesis is based on the fact that financial planning is an important, significant tool, the need for modelling, including what-if analysis, reconfiguration of bottom-up/top-down information flows, data consolidation and viewing of historical information, as well as reporting and a graphical representation of the data is unthinkable without the use of special computer programs.

Keywords: Corporation, Economic Efficiency, Financial Planning, Optimization, Performance

Suggested Citation

Mayorova, Tetiana and Zabashtanskyi, Maksym and Zhuk, Olena and Petrenko, Iryna and Zveruk, Liudmyla and Babich, Iryna, Mechanism of Financial Planning Optimization in the Corporations (June 20, 2020). International Journal of Management, 11 (5), 2020, pp. 846-857., Available at SSRN: https://ssrn.com/abstract=3631612

Tetiana Mayorova (Contact Author)

Department of Corporate Finance and Controlling, SHEE ―Kyiv National Economic University named after Vadym Hetman‖, Kyiv, Ukraine ( email )

pr.Peremogy 54
Kyiv, 03057
Ukraine

Maksym Zabashtanskyi

Department of Personnel Management and Labour Economy, Chernihiv National University of Technology, Сhernihiv, Ukraine ( email )

Shevchenko St.95
Chernihiv, 14027
Ukraine

Olena Zhuk

Department of Economics and Business Finance, Kyiv National University of Trade and Economics, Kyiv, Ukraine ( email )

19 Kyoto st.
Kyiv, 02156
Ukraine

Iryna Petrenko

Department of Corporate Finance and Controlling of SHEE ―Kyiv National Economic University named after Vadym Hetman‖, Kyiv, Ukraine ( email )

pr.Peremogy 54
Kyiv, 03057
Ukraine

Liudmyla Zveruk

Department of Finance, Banking and Insurance, Kyiv Cooperative Institute of Business and Law, Kyiv, Ukraine ( email )

Kyiv
Ukraine

Iryna Babich

Department of Accounting and Auditing, Lutsk National Technical, Lutsk, Ukraine ( email )

Lutsk, 43000
Ukraine

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