The use of methods and tools of financial management in the organisation management system

Issue 56, 2024

Nataliia Krasnostanova, Lyudmyla Vasyutynska, Viktoriya Baranova, Iryna Lapina, Lidiia Voloshchuk

Received 05.01.2024, Revised 12.03.2024, Accepted 15.04.2024

https://doi.org/10.54919/physics/56.2024.63ufw1

Abstract

Relevance. The relevance of the subject is conditioned upon the fact that while doing business, a financial manager faces many problems related to the financial management system, as a result of which there is a need for rational use of financial resources.

Purpose. This study is aimed at identifying methods and tools of financial management in the organisation management system.

Methodology. The leading approach to the study of this problem is a combination of synthesis and analysis methods, which, complement each other and allow comprehensively considering the process of optimising the company's activities through the use of basic methods, concepts, and tools of financial management.

Results. The main results obtained within the framework of this study are the consideration of the essence of financial management, the identification of its role in the financial management system at the enterprise, the identification of the main methods of financial management in the management system, the substantiation of the tools through which these methods are implemented, and the formulation of the main difficulties of the organisation of the financial management system, which an enterprise may face.

Conclusions. The study's conclusions significantly influence the rational and effective use of capital, financial resource enhancement, and investment volume increase, enabling enterprises to improve their competitive advantages in the market and generate profits, which is the ultimate goal of any business management.

Keywords: management; financial management; business optimization; financial management methods; financial management tools

Suggested citation

Krasnostanova N, Vasyutynska L, Baranova V, Lapina I, Voloshchuk L, Author B, Author C. The use of methods and tools of financial management in the organisation management system. Sci Herald Uzhhorod Univ Ser Phys. 2024;(56):631-639. DOI: 10.54919/physics/56.2024.63ufw1

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