Analysis of functions and characteristics of the main performance indicators of financial management in industrial enterprises
M.M. Keshtov, D.L. Illizarov, I.A. Kаgolkin, M.N. Kudratullaev, K.A. Popov
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Abstract. The work analyzes the key functions that determine the success of management activities at industrial enterprises, and also examines the main indicators used to measure the effectiveness of this management. The article also discusses methods and tools that can be used to assess and improve management performance in industrial enterprises. The article analyzes the machine-building enterprises of the KBR, revealing the difficult financial situation of the enterprises. With an increase in the absolute value of assets and an increase in the share of working capital in his property, it is noted that this is due, in particular, to the accumulation of finished products in warehouses due to a drop in demand in the domestic market. At the same time, chronic financial problems and high levels of accounts receivable are noted, indicating ineffective credit risk management and possible default on obligations. The study examines the problem of crisis depletion of funds and equity capital at an industrial enterprise. The lack of management response to this situation is examined, as well as the lack of development of development strategies and financial plans. The question is raised about the possible bankruptcy of the enterprise if the current approach is continued. It is proposed to use the Altman model as a method for assessing the probability of bankruptcy. The results obtained can be useful for both management researchers and practitioners involved in the management of industrial enterprises, with the aim of optimizing production processes and increasing competitiveness.
Keywords: management of industrial enterprises, management efficiency, analysis of management functions, performance assessment, performance indicators, evaluation methods, financial analytics, balance sheet, financial stability, accounts receivable, crisis management, Altman model, bankruptcy, industrial economics, strategic planning
For citation. Keshtov M.M., Illizarov D.L., Kаgolkin I.A., Kudratullaev M.N., Popov K.A. Analysis of functions and characteristics of the main performance indicators of financial management in industrial enterprises. News of the Kabardino-Balkarian Scientific Center of RAS.2024. Vol. 26. No. 5. Pp. 214–229. DOI: 10.35330/ 1991-6639-2024-26-5-214-229
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Information about the authors
Murat M. Keshtov, Candidate of Economic Sciences, Researcher, Engineering Center, KabardinoBalkarian Scientific Center of the Russian Academy of Sciences;
360000, Russia, Nalchik, 37-a I. Armand street;
mmk032@mail.ru, ORCID: https://orcid.org/0009-0001-1695-3880, SPIN-code: 4198-0486
Daniel L. Illizarov, Post-graduate Student, Scientific and Educational Center of the Kabardino-Balkarian Scientific Center of the Russian Academy of Sciences;
360010, Russia, Nalchik, 2 Balkarov street
Ismail A. Kagolkin, Post-graduate Student, Scientific and Educational Center of the Kabardino-Balkarian Scientific Center of the Russian Academy of Sciences;
360010, Russia, Nalchik, 2 Balkarov street
Mirali N. Kudratullaev, Post-graduate Student, Scientific and Educational Center of the KabardinoBalkarian Scientific Center of the Russian Academy of Sciences;
360010, Russia, Nalchik, 2 Balkarov street
Kirill A. Popov, Post-graduate Student, Scientific and Educational Center of the Kabardino-Balkarian
Scientific Center of the Russian Academy of Sciences;
360010, Russia, Nalchik, 2 Balkarov street