The place of reporting in the management of financial results of the enterprise

Abstract

The purpose of the article is to determine the place and impact of indicators of financial, non-financial and internal reporting on the management of financial results of enterprises. It is determined that the primary cause of significant losses in the activities of enterprises is the global epidemic COVID-19, which reduced economic activity, gave impetus to additional investment and financial incentives. It is proved that in order to increase the efficiency of profitability management, enterprises need to systematically analyze the indicators of financial, non-financial and internal reporting and investigate the factors influencing their importance and make appropriate changes to the financial performance management system. The place of different types of reporting in the process of managing the financial results of the enterprise is considered. In order to obtain the highest quality, objective and true forecast indicators of financial results, a sequence of analysis of indicators based on financial statements has been developed. In order to determine the financial indicators, strengths and weaknesses of the entity and the list of issues that should be disclosed in the internal financial statements, it is proposed to conduct a survey of stakeholders. It is proved that the mechanism of financial results management should be based on special indicators that comprehensively characterize the tax, investment, innovation, social and environmental components of the business model of the entity, which is most fully implemented in integrated reporting. It is proposed to constantly assess the risks that may arise when expecting excess profits from its use and in the event of certain deviations to make appropriate adjustments to financial policy, analyzing the indicators of integrated reporting. A matrix for monitoring the financial reliability of the business model of the business entity has been developed. Factors that significantly affect the financial results of the enterprise are classified according to the following characteristics: attitude to the enterprise (external and internal); time of action (permanent, temporary, past, current and future); content (economic, social and environmental).