PARTICULAR ASPECTS OF COMPANY’S FINANCIAL MANAGEMENT IMPROVEMENT USING BENCHMARCING PROCESS

Author:

Erfan Vitaliy, State Higher Educational Establishment «Uzhhorod National University» (3 Narodna Square, Uzhhorod, Ukraine).

Stetsiv Myroslava, State Higher Educational Establishment «Uzhhorod National University» (3 Narodna Square, Uzhhorod, Ukraine).

Fedyna Oleksandr, State Higher Educational Establishment «Uzhhorod National University» (3 Narodna Square, Uzhhorod, Ukraine).

Language: ukrainian

Annotation:

This article deals with particular aspects of financial management improvement by means of using benchmarking based on studying the concept of financial management, its structure and peculiarities. It is mentioned that financial management as the instrument to administrate company’s own capital, borrowed funds and its market value is the guarantee of its successful functioning. Some scientific approaches explaining the concept of financial management are emphasized. Elaborate theoretical approaches are given in scientific literature to describe managing and financial part of the process. It is pointed out that the improvement of company’s financial management – benchmarking or any other process involved in finance administration – must serve its main purpose – to manage the capital effectively, serve the strategy of the company and be a reasonable and resultative.

Key words:

financial management; company; capital; management system; scientific approaches; benchmarking

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