Development of System Toolkit for Financial Control in Corporations: Theoretical, Methodological and Practical Aspects

A system toolkit for financial control in corporations ensures efficient performance. The study aims to develop and implement a systematic approach to corporate financial control, constantly updating its forms, types and methods and considering current requirements. The study involved the applicatio...

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Главные авторы:	Manuylenko, V. V., Мануйленко, В. В., Galasova, M. V., Галасова, М. В., Roschupkina, V. V., Рощупкина, В. В.
Формат:	Статья
Язык:	English
Опубликовано:	Elite Scientific Publications 2024
Темы:	Financial control System toolkit Primary Unique principles
Online-ссылка:	https://dspace.ncfu.ru/handle/123456789/29173
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spelling	ir-123456789-291732024-10-30T09:29:09Z Development of System Toolkit for Financial Control in Corporations: Theoretical, Methodological and Practical Aspects Manuylenko, V. V. Мануйленко, В. В. Galasova, M. V. Галасова, М. В. Roschupkina, V. V. Рощупкина, В. В. Financial control System toolkit Primary Unique principles A system toolkit for financial control in corporations ensures efficient performance. The study aims to develop and implement a systematic approach to corporate financial control, constantly updating its forms, types and methods and considering current requirements. The study involved the application of general scientific and unique methods, i.e., analysis – including coefficient, synthesis, generalization and detailing, inductive and deductive; selective observation, grouping, formalization, analogy, abstract-logical, monographic, analytical, comparative, economic-statistical, extrapolation, systems thinking; Monte Carlo simulation method, methods for constructing structural and logical diagrams, author’s software for general MS EXCEL and special EXCEL-VBA. The results include a financial controlling system built and implemented based on fundamental and unique principles. It included managed subsystems (accounting, information subsystems, subsystems of planning, budgeting, financial analysis, tax controlling, GAP analysis, forecasting, financial control, security, risk controlling), managing subsystems and methodological support. The critical areas of digitalization of financial controlling in corporations for the current period are identified - tax controlling, forecasting of digital operations, services, products, and financial technologies allocated in the accounting and information subsystems and subsystems of financial analysis. The future suggested is the development of independent digital subsystems, integrating the performance of the functional purpose of accounting, information subsystems, subsystems of financial analysis, and tax controlling. The authors determined that one of the primary active forms of risk-controlling conduct in crisis is monitoring manageable indicators’ values, which determines the criteria for “critical” deviations. The authors suggest integrating operational, strategic, predictive, situational controlling, risk control, and self-controlling subsystems based on implementing a universal model for its conduct based on Monte Carlo simulation; researchers identified the risk factors for financial controlling systems in corporations. The authors implemented the method of financial control based on Monte Carlo. It integrated subsystems, methods, tools, and techniques of operational, strategic, predictive and situational controlling, risk controlling, and self-controlling. The toolkit for distributing financial indicators by risk zones and by colour categories according to the “traffic light” principle -“green”, “yellow, ” and “red” zones, in the form of financial tension ratio. Implementing the system toolkit for financial controlling conduct in corporations allows independently developed forms, types, and methods of financial controlling, considering the specifics of a particular business. 2024-10-30T09:27:51Z 2024-10-30T09:27:51Z 2024 Статья Manuylenko V.V., Rodionov D.G., Shebzukhova M.A., Galasova M.V., Roshchupkina V.V. Development of System Toolkit for Financial Control in Corporations: Theoretical, Methodological and Practical Aspects // Pakistan Journal of Life and Social Sciences. - 2024. - 22 (2). - pp. 2890 - 2911. - DOI: 10.57239/PJLSS-2024-22.2.00212 https://dspace.ncfu.ru/handle/123456789/29173 en Pakistan Journal of Life and Social Sciences application/pdf Elite Scientific Publications
institution	СКФУ
collection	Репозиторий
language	English
topic	Financial control System toolkit Primary Unique principles
spellingShingle	Financial control System toolkit Primary Unique principles Manuylenko, V. V. Мануйленко, В. В. Galasova, M. V. Галасова, М. В. Roschupkina, V. V. Рощупкина, В. В. Development of System Toolkit for Financial Control in Corporations: Theoretical, Methodological and Practical Aspects
description	A system toolkit for financial control in corporations ensures efficient performance. The study aims to develop and implement a systematic approach to corporate financial control, constantly updating its forms, types and methods and considering current requirements. The study involved the application of general scientific and unique methods, i.e., analysis – including coefficient, synthesis, generalization and detailing, inductive and deductive; selective observation, grouping, formalization, analogy, abstract-logical, monographic, analytical, comparative, economic-statistical, extrapolation, systems thinking; Monte Carlo simulation method, methods for constructing structural and logical diagrams, author’s software for general MS EXCEL and special EXCEL-VBA. The results include a financial controlling system built and implemented based on fundamental and unique principles. It included managed subsystems (accounting, information subsystems, subsystems of planning, budgeting, financial analysis, tax controlling, GAP analysis, forecasting, financial control, security, risk controlling), managing subsystems and methodological support. The critical areas of digitalization of financial controlling in corporations for the current period are identified - tax controlling, forecasting of digital operations, services, products, and financial technologies allocated in the accounting and information subsystems and subsystems of financial analysis. The future suggested is the development of independent digital subsystems, integrating the performance of the functional purpose of accounting, information subsystems, subsystems of financial analysis, and tax controlling. The authors determined that one of the primary active forms of risk-controlling conduct in crisis is monitoring manageable indicators’ values, which determines the criteria for “critical” deviations. The authors suggest integrating operational, strategic, predictive, situational controlling, risk control, and self-controlling subsystems based on implementing a universal model for its conduct based on Monte Carlo simulation; researchers identified the risk factors for financial controlling systems in corporations. The authors implemented the method of financial control based on Monte Carlo. It integrated subsystems, methods, tools, and techniques of operational, strategic, predictive and situational controlling, risk controlling, and self-controlling. The toolkit for distributing financial indicators by risk zones and by colour categories according to the “traffic light” principle -“green”, “yellow, ” and “red” zones, in the form of financial tension ratio. Implementing the system toolkit for financial controlling conduct in corporations allows independently developed forms, types, and methods of financial controlling, considering the specifics of a particular business.
format	Статья
author	Manuylenko, V. V. Мануйленко, В. В. Galasova, M. V. Галасова, М. В. Roschupkina, V. V. Рощупкина, В. В.
author_facet	Manuylenko, V. V. Мануйленко, В. В. Galasova, M. V. Галасова, М. В. Roschupkina, V. V. Рощупкина, В. В.
author_sort	Manuylenko, V. V.
title	Development of System Toolkit for Financial Control in Corporations: Theoretical, Methodological and Practical Aspects
title_short	Development of System Toolkit for Financial Control in Corporations: Theoretical, Methodological and Practical Aspects
title_full	Development of System Toolkit for Financial Control in Corporations: Theoretical, Methodological and Practical Aspects
title_fullStr	Development of System Toolkit for Financial Control in Corporations: Theoretical, Methodological and Practical Aspects
title_full_unstemmed	Development of System Toolkit for Financial Control in Corporations: Theoretical, Methodological and Practical Aspects
title_sort	development of system toolkit for financial control in corporations: theoretical, methodological and practical aspects
publisher	Elite Scientific Publications
publishDate	2024
url	https://dspace.ncfu.ru/handle/123456789/29173
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Development of System Toolkit for Financial Control in Corporations: Theoretical, Methodological and Practical Aspects

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