Contemporary Problems of Social Work Современные проблемы социальной работы academic journal

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VOLUME 2, No. 1, 2016
probability that determines the content management process not as a deterministic process, 
and probabilistic, which determines the content of the “risk” category.
The risk of individual reproduction – the likelihood of rejection of the project results 
(positive, negative) as a result of external and internal factors of the process of reproduction 
of capital turnover.
Categories of risk and project results (yields) are interconnected and are in direct relationship: 
increasing yield – increasing the risk; reduced yield – reduced risk. It determines the behavior 
of the investor and can be clearly seen on the example of the banking system deposits.
Investing is carried out on the functional subsystems and respectively carried risk relationship 
and project results according to the income sub-systems [20].
Number of employees of small businesses are not more than a hundred people, so to allocate 
as a separate unit of financial management department is inappropriate. Therefore, regular 
financial analysis for financial management purposes difficult. As a result, the problem arises 
of a thorough review of the overall financial management of the basic principles applicable 
to small organizations, as a small business these methods are difficult to implement. This 
situation arises from the inconsistency between the financial statements of small enterprises 
based traditional financial analysis.
In the process of financial and economic activities of any company on a regular basis is necessary 
to make adjustments to current activities. To do this you must be able to analyze the components 
of the organization both in general and for individual elements. Economic analysis allows managers 
to have to objectively assess the current state of the company, evaluate performance. Rapidly 
changing market conditions require constant monitoring of the company’s activity on the part 
of managerial staff for the effective use of available resources for maximum profit [24]. For the 
purpose of organization is necessary to identify the most vulnerable places in the structure of 
financial and economic activities, as well as to identify the most promising areas of development. 
Much attention is the management company must also be paid to work with contractors, that is to 
monitor the state of accounts receivable and accounts payable [12].
Sometimes problems are related to the company human resources, so need such information 
regarding the owners and managers of the enterprise, number of employees, information on the 
remuneration system, staff qualifications, and so on.
The economic activity of any economic entity it is necessary to allocate resources by type 
and directions. For these purposes, the company creates the unit of financial management, in 
which conducts its financial strategy. The basis of financial management and financial strategy 
of the enterprise keeps the financial statements analysis.
In order to properly evaluate the results obtained during the processing of the financial 
statements must also take into account the information that characterizes the industry in which 
the company operates. This study provides the main characteristics of the industry, factors of 
production, which can help determine the prospects of the enterprise sector.
For small businesses embodied in the life of the financial management purposes difficult 
to implement due to lack of funds and, as a consequence of not having frames which give 
effect to the financial management [7; 16]. For this reason, management of small businesses 
are forced to limit their own. In most cases, the activities of small organizations the immediate 
management function assumes the founder of the organization. This fact, in turn, causes a lack 
of time to carry out administrative functions, which can lead to loss of control over the current 
financial state of the organization. Management of the enterprise in addition to the conduct 
of core activities should represent the direction of movement of the enterprise development. 
Hence the need to rationally allocate their time and opportunities to attract additional material 
and human resources for the successful implementation of the monitoring of current economic 
activity and further business planning. These provisions are the basis for the successful 
implementation of financial management strategies [10].

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CONTEMPORARY PROBLEMS OF SOCIAL WORK
Guide enterprises of any sphere of activity initially develop a financial strategy, implying limited 
funds. In this strategy, a system of long-term financial performance to maximize the efficiency 
of distribution of available resources. To form a financial management strategy is necessary to 
precisely determine the time period for which designed the strategy. When determining the period 
of formation of the financial strategy of the company is necessary to predict the development of 
the economy in general and the situation of those segments of the market, which is related to the 
future financial activities of the company. You should also take into account the required amount 
of capital and assets, their optimal structure, effective and efficient use.
The basic tools of financial management strategies are: fiscal policy, financial support 
competitive advantage, information provision, temporary agreements, diversification, legal 
tactics and so on. The methods by which developed a financial management strategy: financial 
modeling, strategic financial planning, financial analysis, examination of the financial markets, 
forecasting [11].
The process of using the tools and techniques of financial strategy bears situational: the 
choice of a combination in different situations, determine the specific socio-economic and 
political factors.
Most small businesses before starting their activities do not have a clear financial 
management strategy, all decisions in the management of financial flows are taken promptly, if, 
not having a long-term plan for development of the organization. This situation is often made 
up of the small start-up capital of the company, as a consequence, the management of such 
an organization focused on the advance settlement system between enterprises. Organization 
of the market cannot accurately determine in advance the size of their financial receipts from 
contractors and maintenance costs of their activities, therefore, it complicates the development 
of financial management strategies. In addition, the advance payment system is extremely 
unstable: there is a probability of absence of further orders that would lead to non-fulfillment 
of obligations under current liabilities.
Management of financial flows only immediate supervisor engaged in small organizations based 
on its accounting data and assumptions about future revenues and future costs. Thus, the limited 
circle of persons related to the financial strategy of the enterprise. Given the fact that not all 
managers of small organizations have economic education, development of financial management 
strategy, if carried out, it becomes very difficult. For such organizations is problematic study of the 
dynamic of the market conjuncture and predestination future economic situation.
Many small businesses in the structure of their liabilities are borrowings. Due to the 
instability of the advance payment system, increases the risk of delay payments on loans and, in 
some cases, failure to pay them. As a result, the organization can slide into the debt trap, which 
leads to bankruptcy.
Based on the above we can conclude that small businesses are in the difficult conditions on 
the development of financial management strategies: on the one hand, this strategy is vital, on 
the other hand, the lack of staff, it can develop, implement and gradually implemented.
Financial management of small organizations is very difficult process. It includes an analysis 
of the financial condition, planning, accounting, preparation of financial statements and the 
management, control [3].
For the implementation of financial management for small businesses is necessary to carry 
out activities of financial analysis.
Financial – a set of indicators that reflect the availability of financial resources, as well as 
their placement and use. Concepts like “financial analysis” and “financial analysis” are different 
in content and should not be treated as synonyms. the main purpose of financial analysis is 
considered to obtain a number of parameters that give an objective picture of the financial 
condition of the company, information on the profit or loss of the organization, changes in the 
structure of assets and liabilities, data on settlements with debtors and creditors.

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