CC BY
9III. Экономика и социальные аспекты в странах региона
Для цитирования: Давиденко Л.М. Финансовые основы технологической интеграции промышленных предприятий // [Электронный ресурс] URL: http://rectors.altstu.ru/ru/periodical/archiv/2019/2/articles/3_1.pdf
DOI: 10.25712/ASTU.2410-485X.2019.02.005
УДК 334.758.2/6
JEL Classification: G34, L4, F15
Финансовые основы технологической интеграции
промышленных предприятий
Л. М. Давиденко1
Омский государственный университет им. Ф.М. Достоевского, г. Омск, Российская Федерация Инновационный Евразийский университет, г. Павлодар, Республика Казахстан E-mail: [email protected]
Introduction. Technological integration contributes to the development of intelligent manufacturing technologies, relying on a system of interconnected and complementary manufacturing complexes. In contrast to existing management concepts for industrial enterprises operating in conditions of external challenges, the financial management concept is based on a structurally functional approach. Financial management offers a clear set of tools to simplify and shorten the transition to a high technological conversion level based on the state of the resource base, using existing and new economic ties inside and outside industrial complexes. Of particular importance in the construction of integrated structures are digital information processing technologies for managing complex technological processes, in particular, mining and manufacturing companies.
1. Principles of organization and mechanism of financial management
Finance is a set of objectively conditioned economic relations having distributive character, monetary form of expression and are presented in monetary income and savings formed at the disposal of economic entities and the state for the purposes of expanded reproduction, material stimulation, satisfaction of social and other needs of society.
Financial resources generated through sources such as private and related funds (share capital, equity contributions, profit from operating activities, revenue targets, etc.); mobilized in the financial market as a result of operations with securities received in the order of redistribution (budget subsidies, subventions, insurance compensation, etc.). Grouping of financial resources of the enterprise in accordance with the sources of their formation can be presented in the following form (Figure 1).
«Grand Altai Research & Education»
38
Financial resources ol' the company
formed ai the expense of own and equivalent means
Mobilized in the financial market
Received in the order of redistribution
Revenues
Profil front opera tint; activities
Profit on performed research projects, etc. target income Profit from financial operations
Profit from
construction anil installation works performed in an economic way Other types of income
Receipts Depreciation Proceeds from
disposal
Stable liabilities Targeted income Mobilization of internal resources in construction Unit and other contributions of team members Other income
Sale ol own shares, bonds and other types of securities Credit investments
Risk insurance coverage Financial resources coming from concerns, associations Financial resources formed on a unit (to the left) basis
Dividends and interest on securities of other issuers
Budget subsidies Other types of resources
Figure 1. Financial resources of the company (author of the sources [1, 2])
The digitalization of the economy is an integral characteristic of the transition period in the conditions of the industrial revolution. Each year, the technology of data collection and processing receives a new round of development, in connection with which the factors of advanced technological growth include internal and external composite components of the characteristics of the subject and object of technological integration.
As part of financial relations, it is possible to distinguish groups of relatively homogeneous monetary relations (in Figure 2, the classification of monetary relations is typical for enterprises of material production), which take into account the specifics of the formed monetary funds for special purposes. These types of monetary relations comprise the contents of the finances of enterprises (organizations), which can be defined as «monetary relations associated with the formation and distribution of cash incomes and savings from business entities and their use to fulfill obligations to financial-banking system and financing costs for expanded reproduction, social services and material incentives for workers» [3].
Monetary relations in the process of production and sale of products
Related to the formation and use of trust funds for internal purposes
Giarter capital Production Development Fund Incentive funds
Associated with the non-stock form of movement of financial resources and bearing a distributive character
Mutual contributions by members of various associations Participation of association members in the distribution of profits from the cooperation of production processes
Investing in shares of other enterprises, receiving dividends Payment and receipt of fines for breach of contractual obligations
Developing with insurance* organizations in connection with the formation and use of various
insurance funds
Formed with banks regarding the receipt and repayment of bank loans, payment of interest on them.
the provision of temporary use of free cash
Arising with the state regarding the formation and use of budgetary and extra-budgetary funds: payments to the budget, budgetary financing, payments to extra-budgetary funds
Figure 2. Grouping of monetary relations characterizing financial relations of material production enterprises (author of the source [3])
1.2. Structuring the content of financial management in terms of technological challenges
The industrial revolution determines the development of all spheres of society, including the finances of organizations. The traditional technologies of working with financial and economic information are being replaced by intelligent systems. Financial resources are an enlarged and relatively independent economic object that makes up the scope of application of general management functions. As you know, management is a combination of techniques and methods of targeted impact on an object to achieve a specific result.
A new generation of financial management is applied to the management of socio-economic processes at the firm level, operating in conditions of technological
superiority. In special management literature, there are various approaches to the definition of the concept of «management»:
— function, «the type of professionally carried out activity aimed at achieving, during any economic activity of the company, operating in market conditions, defined goals by the rational use of material and labor resources using the principles, functions and methods of the economic mechanism management» [4, p.9];
— the process of fulfilling the functions of forecasting, planning, organizing, regulating, coordinating, stimulating and controlling;
— body, management apparatus;
— category of people;
— science, art.
These approaches are also characteristic for defining the concept of «financial management», which is a «process of developing financial management goals and exerting influence on them using the methods and levers of the financial mechanism»
Financial management is one of the key sub-systems of the overall enterprise management system. The logic of its functioning is presented in Figure 3.
The financial management system at the enterprise consists of two subsystems:
— management object (managed subsystem) — «the totality of the conditions for the implementation of cash circulation, cost circulation, movement of financial resources and financial relations between business entities and their units in the economic process» [6; 7];
— the subject of control (control subsystem) is «a special group of people (financial management), which through the various forms of managerial influence implements the purposeful functioning of the object» [8].
Technological integration is considered as a dynamic process of transforming the flows of production resources in the form of new technologies at the enterprise level, as well as globally through the use of reserves of internal and external development
In the definition, one can see the connection with the theory of structural functionalism, especially if the socio-economic system is interpreted in the light of stable complexes, rules and norms [10].
[5].
[9, p.17].
Наука и образование Большого Алтая»
Legal and regulatory support of the financial management system
•J-. * j-. a t v ■A c O
Laws u ■ la H Q - n j i i 11 ts¡ T3 ■sy E — o Z íj E c
Information Dow -►
Management subsystem (subject)
Organizational structure of financial management Personnel in the financial Department rinanciai instruments Financial methods Elements of the financial mechanism
Financial Information Technical Information
Management process
c c
© c
c c
o cil 3 fl •s
1 Plannin ■ B c .2 3 mi D aí 8 {j a E M Control
ï
The financial analysis
I
Managed Subsystem (Object)
Sources of financial resources Financial resources Financial relations
Figure 3. The structure and functioning of the financial management system
(author of the source [6-8])
1.3. The relationship of financial management and technological integration
The economic unit includes the planning and economic department (PED), the department of remuneration and labor organization, the corporate governance bureau, and accounting.
PED performs the following main functions:
1) development of current and long-term production plans;
2) operational accounting of production; preparation of normative estimates; development of estimates of shop, factory expenses;
3) development of draft prices for petroleum products, consumer goods;
4) technical and economic analysis of the plant;
5) analysis of the enterprise's position in the competition and development prospects.
The department of remuneration and labor organization calculates the wage fund, determines the average wage by categories of workers, approves the staffing of the enterprise.
The main activities for the management of movement, the flow of financial resources is carried out in the framework of accounting, which includes the financial department as a financing sector. Details of the functions of the accounting sectors are shown in the figure, the most important of them:
1) ensuring financing of the economic activity of the enterprise;
2) development of financial programs for the development of an economic entity;
3) development of investment policy;
4) definition of credit policy;
5) the development of monetary policy and the provision of foreign exchange activity;
6) financial planning, budgeting, participation in the preparation of business plans;
7) insurance against financial risks;
8) management, financial accounting, preparation of the balance sheet and other financial documents.
The activities of the financial department are carried out in three areas: financial planning, control and analytical work, financial and operational work.
But there is a distinctive feature when, when determining the object, subject and subject of technological integration, the system of economic relations for regulating the flows of production resources in the form of applied technologies is taken as the basis. Thus, the gradual transformation of the subject of technological integration, as a sphere of potential changes, will contribute to updating the strategy and tactics of managing industrial complexes, forming the basis for the transition of the entire economy to a new technological structure
Moreover, the distinctive features of the structural-functional approach are combined into a list of the main features of technological integration (Figure 4).
Наука и образование Большого Алтая»
Functions of the Finance Department
current planning
Financial planning
1 Identification of reserves for increasing the income of the enterprise and ways to mobilize them.
2 Determination of the most rational directions of investment of the enterprise.
3 Linking buyers of the production plan with financial resources.
4 Justification of optimal financial relationships with the budget. bank or lenders.
Financial and operational work
1. Operational accounting of product sales, profit from sales, other financial indicators.
2. Processing bank documents.
3. Monitoring the timely receipt of funds due from buyers.
4. Consideration of sanctions and claims made by buyers, suppliers, customers.
5. Participation in the conclusion of loan agreements
6. Operational accounting of receivables and payables.
operational planning
5. Drawing up a payment calendar, cash plan
Control and analytical work
1. A systematic analysis of accounting, statistical and operational reporting.
2. Control and analysis of the intended use of own and borrow ed funds
3. Analysis of the financial condition of the enterprise.
4. Forecast of the results of financial and economic activities.
5. Monitoring the implementation of the financial plan.
6. Calculation of the need lor short-term loan
Areas of interaction of Financial management and Technological
integration
Figure 4. The relationship of financial management functions and technological integration [10-15])
Conclusion. Assessing the near future of technological integration, we can state the fact that the transition of manufacturing enterprises to an intellectual basis will be simplified provided that the functional zones of responsibility centers are optimized, including cost, income, profit and investment centers [16; 17]. Inevitably, this will
affect the technological risk management system, innovation management. The leading role in the intellectualization of production capacities will be played by measures of state grant support and preferential taxation. Along with this, the effectiveness of the technological development of domestic companies is determined by partnerships with international industry leaders
We can make an affirmative conclusion about the special role of the scientific and methodological tools for organizing finance in an industrial company through technological integration in order to sustainably develop a system of economic relations that regulate the flows of production resources in the form of applied technologies.
Acknowledgments. The study was carried out as part of an initiative applied research «Study of the potential of innovative and technological development of the economy of the regions of the Republic of Kazakhstan and the development of possible scenarios for their economic growth», State registration number 0119РКИ0283.
Благодарности. Исследование выполнено в рамках инициативной прикладной НИР «Исследование потенциала инновационно-технологического развития экономики регионов Республики Казахстан и разработка возможных сценариев их экономического роста», Номер государственной регистрации 0119РКИ0283.
References
1. Blank I. A. Osnovy finansovogo menedzhmenta. V 2 t. M.: Izd-vo Omega-L, 2012. 656р.
2. Brearley R., Meyers S. Principles of Corporate Finance. The McGraw-Hill Companies. 1071р.
3. Brigham E.F. Financial Management: Theory & Practice. — South-Western College Pub 2010. 1187 p.
4. Brigham E. F., Houston Joel F. Fundamentals of Financial Management, 2003. 843р. SOURCE: Courtesy BEN & JERRY'S HOMEMADE, INC. www.benjerry.com.
5. Guo Y.Y., Lu S.Q, Ronen J., Ye J.F. Equity Financial Assets: A Tool for Earnings Management-A Case Study of a Chinese Corporation, 2019. Volume 1. Issue 55. PP. 180-204. DOI: 10.1111/abac.12151.
6. Damodaran A. Investment Valuation: Tools and Techniques for Determining the Value of any Asset, University Edition, 3rd ed. Wiley, 2012. 992p.
7. Давиденко Л. М. Экономика и финансы предприятия: Учебное пособие. Павлодар: Инновац. Евраз. ун-т, 2019. 196с.
8. Vanderstraeten R. Systems everywhere? // Systems Research and behavioral Science. 2019. Volume 36. Issue 3. PP. 255-262. DOI: 10.1002 / sres.2596.
9. Davidenko L.M. Financial management: Textbook. Pavlodar: Innovative University of Eurasia, 2019. 168р.
10. Давиденко Л.М. Технологическая интеграция в обрабатывающей промышленности в условиях цифровой экономики: монография. Павлодар: Инновац. Евраз. ун-т, 2019. 216с.
11. Кузнецов С.В., Миллер А.Е., Давиденко Л.М. Перспективы развития технологической интеграции: региональный аспект // Проблемы прогнозирования, 2019. №1 (172). С. 23-32.
Наука и образование Большого Алтая»
45
12. Шим Джей К., Сигел Джоэл Г. Финансовый менеджмент / Перевод с англ. М.: Филинь,
13. Ковалев В.В., Ковалев Витал.В. Финансовый менеджмент. Конспект лекций с задачами и тестами. Учебное пособие. М.: Издательство: Общество с ограниченной ответственностью «Проспект» (Москва): 3-е издание, переработанное и дополненное, 2019. 560 с.
14. Ковалев В.В. Управление финансовой структурой фирмы. Учебно-практическое пособие. М.: Издательство: Общество с ограниченной ответственностью «Проспект» (Москва), 2019.
15. Ковалев В.В., Уланов В.А. Курс финансовых вычислений. М.: Издательство: Общество с ограниченной ответственностью «Проспект» (Москва), 2019. 560с.
16. Ковалев В.В., Ковалев Витал.В. Корпоративные финансы: учебник. М.: Издательство: Общество с ограниченной ответственностью «Проспект» (Москва), 2019. 640с. DOI: 10.31085 / 9785392288236-2019-640.
17. Osterwalder Alexander & Pigneur Yves. The Business Model Generation. A Handbook for Visionaries, Game Changers, and Challengers. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada.
References
1. Blank I. A. Osnovy finansovogo menedzhmenta. V 2 t. M.: Izd-vo Omega-L, 2012. 656r.
2. Brearley R., Meyers S. Principles of Corporate Finance. The McGraw-Hill Companies. 1071r.
3. Brigham E.F. Financial Management: Theory & Practice. — South-Western College Pub 2010. 1187 p.
4. Brigham E. F., Houston Joel F. Fundamentals of Financial Management, 2003. 843r. SOURCE: Courtesy BEN & JERRY'S HOMEMADE, INC. www.benjerry.com.
5. Guo Y.Y., Lu S.Q, Ronen J., Ye J.F. Equity Financial Assets: A Tool for Earnings Management-A Case Study of a Chinese Corporation, 2019. Volume 1. Issue 55. PR. 180-204. DOI: 10.1111/abac.12151.
6. Damodaran A. Investment Valuation: Tools and Techniques for Determining the Value of any Asset, University Edition, 3rd ed. Wiley, 2012. 992p.
7. Davidenko L. M. Ekonomika i finansy predpriyatiya: Uchebnoe posobie. Pavlodar: Innovac. Evraz. un-t, 2019. 196s.
8. Vanderstraeten R. Systems everywhere? // Systems Research and behavioral Science. 2019. Volume 36. Issue 3. RR. 255-262. DOI: 10.1002 / sres.2596.
9. Davidenko L.M. Financial management: Textbook. — Pavlodar: Innovative University of Eurasia, 2019. 168r.
10. Davidenko L.M. Tekhnologicheskaya integraciya v obrabatyvayushchej promyshlennosti v usloviyah cifrovoj ekonomiki: monografiya. Pavlodar: Innovac. Evraz. un-t, 2019. 216s.
11. Kuznecov S.V., Miller A.E., Davidenko L.M. Perspektivy razvitiya tekhnologicheskoj integracii: regional'nyj aspekt // Problemy prognozirovaniya, 2019. №1 (172). S. 23-32.
12. SHim Dzhej K., Sigel Dzhoel G. Finansovyj menedzhment / Perevod s angl. M.: Filin', 1996. 400s.
13. Kovalev V.V., Kovalev Vital.V. Finansovyj menedzhment. Konspekt lekcij s zadachami i testami. Uchebnoe posobie. M.: Izdatel'stvo: Obshchestvo s ogranichennoj otvetstvennost'yu «Prospekt» (Moskva): 3-e izdanie, pererabotannoe i dopolnennoe, 2019. 560 s.
14. Kovalev V.V. Upravlenie finansovoj strukturoj firmy. Uchebno-prakticheskoe posobie. M.: Izdatel'stvo: Obshchestvo s ogranichennoj otvetstvennost'yu «Prospekt» (Moskva), 2019. 256s.
15. Kovalev V.V., Ulanov V.A. Kurs finansovyh vychislenij. M.: Izdatel'stvo: Obshchestvo s ogranichennoj otvetstvennost'yu «Prospekt» (Moskva), 2019. 560s.
1996. 400с.
256с.
«Grand Altai Research & Education»
46
16. Kovalev V.V., Kovalev Vital.V. Korporativnye finansy: uchebnik. M.: Izdatel'stvo: Obshchestvo s ogranichennoj otvetstvennost'yu «Prospekt» (Moskva), 2019. 640s. DOI: 10.31085 / 9785392288236-2019-640.
17. Osterwalder Alexander & Pigneur Yves. The Business Model Generation. A Handbook for Visionaries, Game Changers, and Challengers. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada.
Наука и образование Большого Алтая»
