Economics, Finance and Management Review Economics, finance, accounting, auditing, management en-US (Iryna Mihus) (Oleksandr Tkachenko) Mon, 28 Dec 2020 00:38:20 +0200 OJS 60 DECENTRALIZATION AND ITS INFLUENCE ON LOCAL COMMUNITY DEVELOPMENT <p><em>The relevance of the study is marked by the general global trend to change the role and functions of public administration. Here it goes about the introduction of the practice of delegating certain functions of public administration to the competence of local governments. Changes of public administration have taken the form of decentralization of central government and active increase in the role of public administration through local self-government.</em></p> <p><em>The purpose of the study is to analyze the theoretical concepts of the system of relations between state and local government in the period of global changes and self-identification of the Ukrainian nation and their possibility of implementation. The object of the research is the system of reforming state power in Ukraine and the development of local self-government.</em></p> <p><em>The study uses methods that can assess the tendency of decentralization and local self-government in the historical and logical approach and analyze the dynamics of this process through normative and logical analysis. These methods forecast further growth of the decentralization process and its consequences for the economy and regional development.</em></p> <p><em>The study identifies the main factors that necessitate the introduction of decentralization of power. Areas that activate the necessity for appropriate reform are identified and described. The historical aspects of the decentralization reforms in different European countries are analyzed. Positive changes in reforms have been noted. They relate to the priority reorientation of socialist economies to a market model of management and the transition to a new paradigm of life in the countries. The history of development of Ukrainian decentralization of power is also studied.</em></p> <p><em>A solution has been found to the controversy over the reform process initiated by the population in the regions and the political government. The situation is in favor of the interests of the ruling power. The main shortcomings of decentralization in Ukraine and the lack of financial support for such reform are also noted. It is proved that decentralization should be carried out at the expense of economic development and improvement of social and economic state of regions.</em></p> <p><em>The practical value of the results relates to the recomme</em><em>ndations for adjusting government policy in the process of implementation of administrative reforms for decentralization and local government development. </em></p> Yuliya Nemish, Hryhorii Borshch, Vasyl Melnychuk Copyright (c) 2020 Scientific Center of Innovative Researches OÜ Mon, 07 Dec 2020 00:00:00 +0200 EXPERIENCE OF THE UNITED TERRITORIAL COMMUNITIES OF THE WESTERN REGION OF UKRAINE: SOCIO-ECONOMIC ASPECT <p><em>The relevance of the study is marked by the general global trend of reorientation of the public administration system, namely through the introduction of a viable institution of local self-government in order to build the socio-economic environment of the newly formed united territorial communities. Forms of change in the Ukrainian model of public administration have become irreversible in the decentralization of central government and have entered the stage of a new active increase in the practical experience of territorial self-government of newly created communities. The purpose of the study is to analyze the consequences of the reform of local self-government and primarily in the socio-economic aspect and the real perception of such changes at the level of ordinary Ukrainians in the western regions of Ukraine.</em></p> <p><em>The object of the research is the dynamic and long-term process of decentralization of state power in Ukraine and the development of an effective and self-sufficient institution of people's democracy of local self-government. </em></p> <p><em>The study uses methods to assess the trend of decentralization of power in Ukraine and the process of deployment of local government in the historical-logical approach and analyze the socio-economic consequences of this dynamic process through economic analysis and predict the end result for both domestic economy and joint development. territories of local communities. </em></p> <p><em>The study notes the main stages of this reform, proves the existence of customers of such large-scale transformations of the Ukrainian original territorial ethnic group and calculates the role and assessment of these changes by ordinary Ukrainians. A comprehensive socio - economic assessment of the initial consequences of the introduction of a new institutional model of territorial governance is also presented and the further course of realization of such shifts of the Ukrainian society is forecasted.</em></p> Tetiana Bukina, Vira Lebedchenko Copyright (c) 2020 Scientific Center of Innovative Researches OÜ Mon, 07 Dec 2020 00:00:00 +0200 STATE FISCAL SUPPORT FOR SECURITY ENVIRONMENT OF ACTIVITIES OF SPATIALLY LOCALIZED SYSTEMS IN NATURAL-AND-RESOURCE AND AGRARIAN SECTORS OF NATIONAL ECONOMY <p><em>The</em> <em>article</em> <em>systematizes</em> <em>key</em> <em>typologies</em> <em>of</em> <em>collecting</em> <em>resource</em><em>-</em><em>oriented</em> <em>taxes</em> <em>in</em> <em>developed</em> <em>countries</em> <em>within</em> <em>the</em> <em>framework</em> <em>of</em> <em>establishing</em> <em>and</em> <em>evolving</em> <em>a</em> <em>national</em> <em>model</em> <em>of</em> <em>fiscal</em> <em>support</em> <em>for</em> <em>the</em> <em>security</em> <em>environment</em> <em>of</em> <em>activities</em> <em>of</em> <em>spatially localized</em> <em>systems</em> <em>in</em> <em>natural</em><em>-</em><em>end</em><em>-</em><em>resource</em> <em>and</em> <em>agrarian</em> <em>sectors</em> <em>of</em> <em>the</em> <em>national</em> <em>economy</em> <em>subject</em> <em>to</em> <em>globalization</em> <em>processes</em><em>, </em><em>their</em> <em>penetration</em> <em>into</em> <em>the</em> <em>Ukraine</em><em>’</em><em>s</em> <em>economy</em> <em>and</em> <em>a</em> <em>degree</em> <em>of</em> <em>the</em> <em>COVID</em><em>-19 </em><em>coronavirus</em> <em>infection</em> <em>world</em> <em>pandemic</em> <em>spread</em> <em>in</em> <em>its</em> <em>territory</em><em>.</em><em> Key</em> <em>directions</em> <em>and</em> <em>methods</em> <em>of</em> <em>developed</em> <em>countries</em><em>’ </em><em>accumulation</em> <em>of</em> <em>revenues</em><em> (</em><em>rent</em><em>) </em><em>extraction</em> <em>and</em> <em>exploitation</em> <em>of</em> <em>natural</em><em>-</em><em>and</em><em>-</em><em>land</em> <em>resources</em> <em>by</em> <em>spatially localized</em> <em>systems are systematized and typologized</em><em>.</em> <em>An</em> <em>impact</em> <em>of</em> <em>invariance</em> <em>of</em> <em>forms</em> <em>and</em> <em>types</em> <em>of</em> <em>resource</em> <em>taxes</em> <em>on</em> <em>a</em> <em>behavioral</em> <em>model</em> <em>of</em> <em>activities</em> <em>of spatially localized</em> <em>systems</em> <em>in</em> <em>natural</em><em>-</em><em>and</em><em>-</em><em>resource</em> <em>and</em> <em>agrarian</em> <em>sectors</em> <em>of</em> <em>the</em> <em>economy</em> <em>in</em> <em>the</em> <em>framework</em> <em>of</em> <em>features</em> <em>of</em> <em>the national</em> <em>architecturing</em> <em>of</em> <em>the</em> <em>system</em> <em>of</em> <em>state</em> <em>support</em><em> (</em><em>assistance</em><em>) </em><em>is</em> <em>studied</em><em>, </em><em>in</em> <em>particular</em><em>, </em><em>for</em> <em>entities</em> <em>of</em> <em>natural</em><em>-</em><em>and</em><em>-</em><em>resource</em> <em>and</em> <em>agrarian</em> <em>sectors</em> <em>of</em> <em>the</em> <em>national</em> <em>economy</em><em> (</em><em>formal</em> <em>and</em> <em>informal</em> <em>institutional</em> <em>rules</em><em>, </em><em>normative</em><em>, </em><em>budgetary</em><em>, </em><em>fiscal</em> <em>and</em> <em>other</em> <em>institutional</em> <em>restrictions</em><em>). </em><em>Recommendations</em> <em>are</em> <em>grounded</em><em>, </em><em>for</em> <em>the</em> <em>selection</em> <em>of</em> <em>the</em> <em>efficient</em> <em>system</em> <em>of</em> <em>special</em> <em>taxation</em> <em>of</em> <em>spatially localized</em> <em>systems</em> <em>in</em> <em>the</em> <em>natural</em><em>-</em><em>and</em><em>-</em><em>resource</em> <em>sector</em> <em>subject</em> <em>to</em> <em>the</em> <em>general author’s </em><em>3-</em><em>D</em> <em>model of recommendations for countering and overcoming the consequences of the corona crisis in the national economy, in general, and its natural-and-resource and agrarian sectors.</em> <em>Features</em> <em>are</em> <em>established</em> <em>for</em> <em>national</em> <em>informal</em> <em>rules</em> <em>of</em> <em>the</em> <em>functioning</em> <em>and</em> <em>development</em> <em>of</em> <em>spatially</em> <em>localized</em> <em>systems</em> <em>in</em> <em>the</em> <em>natural</em><em>-</em><em>and</em><em>-</em><em>resource</em> <em>sector</em> <em>expressed</em> <em>through</em> <em>mechanisms</em> <em>of</em> <em>illegal</em> <em>amber</em> <em>mining</em> <em>as</em> <em>well</em> <em>as</em> <em>the</em> <em>analysis</em> <em>is</em> <em>made</em> <em>for</em> <em>the</em> <em>prospective</em> <em>regulatory</em> <em>environment</em> <em>of</em> <em>activities</em> <em>of</em> <em>spatially</em> <em>localized</em> <em>systems</em> <em>in</em> <em>natural</em><em>-</em><em>and</em><em>-</em><em>resource</em> <em>and</em> <em>agrarian</em> <em>sectors</em> <em>of</em> <em>the</em> <em>national</em> <em>economy</em> <em>resulted from the actualization</em> <em>of</em> <em>the</em> <em>regulatory</em><em>-</em><em>and</em><em>-</em><em>legal</em> <em>basis</em> <em>of</em> <em>the</em> <em>subsoil</em> <em>use</em><em>.</em></p> Sergiy Petrukha, Oleksandr Kushneruk, Oleksandr Volynets Copyright (c) 2020 Scientific Center of Innovative Researches OÜ Mon, 07 Dec 2020 00:00:00 +0200 ALTERNATIVE METHODS OF SMALL BUSINESS FINANCING IN UKRAINE <p><em>Today's realities show a crisis in the solvency of domestic businesses, which is caused, in particular, by lower interest rates after 2008. This encourages small businesses to attract alternative financing methods. Access to external financing in times of crisis is becoming more difficult, especially for small businesses.</em> <em>The purpose of the study is to examine the practice of alternative methods of financing small business in Ukraine in a pandemic and solvency crisis in 2020.</em> <em>The results show that in developing countries, in particular in Ukraine, lending as a form of financing for small businesses is underused due to high interest rates. Small businesses mainly rely on financing from creditors (suppliers) and management of accounts payable, receivables. Government support is also low. The main methods of financing include financing at the expense of creditors, in particular, it may be deferred payments for goods, works and services. At the same time, small business did not significantly increase the amount of financing through loans on a long-term basis in 2010-2019. Compared to long-term liabilities, corporate equity is a more widely used source of financing in Ukraine. In the period of economic recovery (2017-2018) there was an increase in the share of long-term commitments and provision and a reduction in the share of equity capital in the balance of small enterprises. This means that the structure of financing depends on the country's economy: in a crisis, borrowing is reduced. In Ukraine, starting from 2017, there has been an increase in the level of efficiency of state support for the agro-industrial complex of Ukraine through the expansion of public funding instruments, taking into account the various needs and problems of individual industries.</em></p> Alla Heidor, Nataliia Dobizha, Halyna Pohrishcuk Copyright (c) 2020 Scientific Center of Innovative Researches OÜ Mon, 07 Dec 2020 00:00:00 +0200 PECULIARITIES OF INVENTORY IN PUBLIC SECTOR OF ECONOMY OF UKRAINE <p><em>The peculiarity of the activities of public sector institutions of the Ukrainian economy is that they are forced to form and use their resources within the approved budget of revenues and expenditures. That is why it is important to monitor the condition and preservation of the property of such institutions. The purpose of the study is to identify ways to improve the stage of preparation for the inventory and its documentation by developing and approving an internal regulation on the inventory of public sector institutions. During the study of the essence of the concept of "institutions of the public sector of the economy", the principles and features of the inventory were used methods of scientific analysis, synthesis, scientific abstraction, the method of theoretical and logical generalization. One of the methods of control over the proper storage and use of the resource base of public sector institutions is inventory. The purpose of the study is to examine ways to improve the process of preparation and documentation of inventory in public sector institutions of the Ukrainian economy. General scientific and specific methods of scientific research were used in studying the issue. The issue of conducting an inventory and qualitative reflection of its results always remains relevant. According to our study, the emphasis was on recommendations for public sector institutions to develop and implement internal regulations on inventory of assets and liabilities, which will greatly simplify their current work not only before the preparation of annual financial statements but throughout the financial year.</em></p> Mykola Denisenko, Nataliya Mamontova, Anna Novak Copyright (c) 2020 Scientific Center of Innovative Researches OÜ Mon, 07 Dec 2020 00:00:00 +0200 PROBLEMS OF DRAWING UP THE ACCOUNTING POLICIES FOR THE NEEDS OF CORPORATE ENTERPRISE MANAGEMENT <p><em>An effective system of corporate governance increases the cost of capital, encourages companies to use their own resources more efficiently, which forms the basis for their growth. </em><em>One of the structures of corporate governance is the accounting policies, which is a special area of economic activity of the corporation, aimed at mobilizing financial resources, their rational distribution and use to ensure functions of the corporation. The purpose of the article is to identify the problems of formation of accounting policy for the needs of corporate enterprise management.</em> <em>In the process of writing the article, methods of analysis and synthesis, comparison and generalization of research results were used, which allowed to achieve this goal. Using this element of the accounting policies, the corporation can influence the formation of its costs, and hence the formation of financial statements in different reporting periods. The decision to include interest on loans obtained from member banks of the corporation in the calculation is made for each loan separately.The main tasks of the accounting policies of the corporation are as follows: to ensure a clear understanding of indicators of the financial statements by users; enabling users to assess effects of different accounting alternatives; accurate interpretation and comparability of financial statements of different companies that use alternative accounting methods.</em></p> Oleksandr Bradul, Vira Shepelyuk, Marian Yunatskyi Copyright (c) 2020 Scientific Center of Innovative Researches OÜ Mon, 07 Dec 2020 00:00:00 +0200 RISK MANAGEMENT AND COMPLIANCE CONTROL AT ENTERPRISES: THEORETICAL BASIS <p><em>The article provides a theoretical analysis of the organization of security activities in enterprises, which is proposed to mean activities to ensure the most efficient use of available resources to protect their interests from the effects of internal and external threats, as well as adaptation to existing conditions with minimal losses. Theoretical bases of essence of safety activity of the enterprises as bases for maintenance of effective functioning of the enterprises in the conditions of competition are substantiated. It is proposed to position security activities as a management technology in the enterprise, which contributes to the achievement of strategy and a high level of competitiveness in the market. Currently, businesses face an increasing number of risks and threats that arise from a significant level of uncertainty in the environment, as well as illegal intentional or unintentional actions of employees. The impact of such threats has significant negative consequences on the results of enterprises, their image, market position and so on. Therefore, special attention is paid to the details of the process of risk management and compliance control in order to achieve a high level of economic security of the enterprise. Using methods of analysis, scientific abstraction, formal logic and logical generalization to determine the essence of the main categories in the field of security activities of enterprises and risk management. A comparison of risk management and a comprehensive enterprise risk management system is made. The advantages of using a comprehensive risk management system are analyzed. The ERM concept is characterized as an approach to enterprise management that integrates strategic planning, operations management and internal control and is based on risk accounting. Comparisons were made and differences were established between compliance control and internal audit at the enterprise.</em></p> Yulia Ilkiv Copyright (c) 2020 Scientific Center of Innovative Researches OÜ Mon, 07 Dec 2020 00:00:00 +0200 THE IMPACT OF FINANCIAL FRAUD ON THE ECONOMIC SECURITY OF CONSTRUCTION ENTERPRISES <p>The article is devoted to the results of a survey of owners of construction companies on the impact of financial fraud on the economic security of such companies.</p> <p>The purpose of the article is to establish the impact of financial fraud on the economic security of construction companies based on a survey of owners of such companies.</p> <p>In the process of preparing the article, the following methods were used: the method of questionnaires to obtain; graphical method - to display the results of the survey; methods of analysis and synthesis; method of generalization of research results.</p> <p>The results showed that the majority of respondents are owners of limited liability companies, for which the issues of financial fraud are quite relevant and important. The main way to detect financial fraud in the surveyed companies is an internal audit, which allows you to leave all issues closed from information leakage. Most cases of financial fraud are among hired top managers and middle managers. Cases of financial fraud are most often reported by employees, as well as buyers, sellers and competitors. It has also been found that in most cases, whistleblowers report cases of financial fraud directly to business owners rather than management.</p> Vasyl Dmitrenko Copyright (c) 2020 Scientific Center of Innovative Researches OÜ Mon, 07 Dec 2020 00:00:00 +0200 THE MAIN AREAS OF THE BLOCKCHAIN TECHNOLOGY USING IN EDUCATIONAL MANAGEMENT <p><em>The article is devoted to the study of scientific research of scientists from around the world on the use of blockchain technologies in education. The purpose of the article is to systematize the areas of possible use of blockchain technologies in the activities of universities. In the process of preparation of the article the methods of analysis and synthesis, the method of generalization and the comparative method were used. As a result of the research, the main directions of using blockchain technologies in education were systematized: to check the level of accreditation of the university; to identify students at the university; for the organization of the educational process; for lifelong learning; to protect intellectual property; to pay for tuition; to provide loans to students; to verify the authenticity of the issued document on education; for professional education of adults; to rank universities when they receive grant funding. We believe that blockchain technologies in education should use only open sources of information, which will allow them to be used by all stakeholders. At the same time, it is necessary to comply with all the necessary rules for the protection of personal data provided by the laws of different countries. The combination of openness of information and protection of personal data is a major problem that currently faces the possibility of more active use of blockchain technology in education.</em></p> Iryna Mihus Copyright (c) 2020 Scientific Center of Innovative Researches OÜ Mon, 07 Dec 2020 00:00:00 +0200