^{Amerslanova Aynara Nadirovna and Melnik Margarita Viktorovna}

DOI: https://doi.org/10.6000/1929-7092.2018.07.71

Published: 12 November 2018  

Abstract: The audit activity quality control established in Russia is analyzed. The principal directions in methodology and methods improvement in external and internal quality control considering the audit boundaries expansion, change of targets, which have to be solved in auditor’s report, of recent trends in audit service structure, are outlined. On the base of the principal propositions made according to audit examination performed on different levels suggestions for correcting standard and methodic documents regulating the audit activity are substantiated.

Keywords: Audit quality, internal control, external control, kinds and ranges of risks, methods to estimate quality drop risks, control of methodology perfection.

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Alexey V. Kemenov, Tatyana V. Abalakina and Olga I. Zhukova

DOI: https://doi.org/10.6000/1929-7092.2018.07.72

Published: 12 November 2018  

Abstract: Relevance: Information about cash flows is always being closely monitored by analysts, business managers and investors. The efficiency of money management determines the quality of the entity as a whole. And his management should use the integrated indicator of the effectiveness of cash flow management in making management decisions.

The novelty of the present scientific research is in the following:

- the advanced method of calculation of the integral indicator of the efficiency of cash flows management at the high-tech enterprises is proposed,

- the appropriate and efficient use of cash flow profitability indicators is identified.

Practical usefulness.

- It is justified that The Net Present Value (NPV) profitability of net cash flow is the indicator that reflects the efficiency of cash flow management.

- The proposed integral indicator of the effectiveness of cash flow management makes it possible to determine the impact of individual factors that influence the formation and use of NPV.

- the proposed efficiency assessment for effective cash management will determine the quality of management of activity of the economic entity.

Keywords: Financial stability of the organization, cash flow, estimation of the factors of growth in the efficiency of cash flow management, integral indicator of the efficiency of cash flow management.

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Yury M. Tsygalov, Ekaterina E. Dorozhkina, Alexey V. Dorozhkin and Igor I.Ordinartsev

DOI: https://doi.org/10.6000/1929-7092.2018.07.73

Published: 12 November 2018  

Abstract: The subject matter of the article is the outsourcing efficiency evaluation mechanisms. The purpose of the article is to suggest the outsourcing efficiency evaluation mechanism accounting for the interests of all participants of a corporation restructuring and for the risks of company transformation.

Research methodology is based on the application of systemic and institutional approaches, induction and analysis, comparison and generalization.

The outsourcing efficiency evaluation methods have been analyzed. The known evaluation methods are found to have industrial focus, which determines selection of such efficiency criteria as seasonal personnel optimization, logistics improvement, and reduction of information system failures. Such standard efficiency criteria as production costs reduction, improvement of rendered services quality, and higher production processes balance are widely applied. Methods based on financial indicators of a company transformation are rarely applied. The mechanisms of outsourcing efficiency evaluation have little concern for the key commercial activity task of company value increase. A major drawback of the known approaches is the methods’ focus on the companies ordering outsourcing. The impact of risks related to switching to outsourcing is nearly never accounted. Suggestions are made on generation of an outsourcing efficiency evaluation mechanism based on @Risk indicator, which accounts for changes of indicators of all participants of a restructuring process. Any criterion relevant for a certain company may be used as an efficiency indicator. However, free cash clow at risk (FCF@Risk) is suggested to be used as the main efficiency evaluation indicator. An outsourcing project is deemed efficient if ΔFCF@Risk is positive after switching to outsourcing.

Keywords: Outsourcing, efficiency, efficiency criteria, indicator @ Risk - "at risk", risk.

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Natalia Morozko, Nina Morozko and Valentina Didenko

DOI: https://doi.org/10.6000/1929-7092.2018.07.74

Published: 12 November 2018  

Abstract: Most small business organizations are constantly lacking financial resources. This situation is associated with a small amount of own funds and the difficulty of raising borrowed funds. In the prevailing conditions, the need for well-founded financing management, this ensures the stable financial condition of a small organization, increases. Modeling the process of financing an organization allows you to consider different financing options, to influence the most significant factors in a particular situation. It is proposed to use the cognitive approach for dynamic management of the financing process and the choice of a rational variant based on the logit model. Determination of the degree of influence of various factors is proposed to be determined using correlation-regression modeling. With the help of the proposed modeling of the financing process of a small organization, it is possible to forecast positive changes in financial performance.

Keywords: Management, small business, financing, is modeling.

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Alexey V. Kemenov, Nikolay A. Okatyev, Vladimir K. Proskurin and Boris V. Proskurin

DOI: https://doi.org/10.6000/1929-7092.2018.07.75

Published: 12 November 2018  

Abstract: Relevance: The solution to the problems of competitiveness of innovative technologies and products in global markets, accelerating the process of import substitution (if existing international economic sanctions by Russia) perhaps with the active using the capital of private business. This calls for the formation of certain financial and economic conditions of overcoming the barriers of innovative development of enterprises.

The novelty of the present scientific research is in the following: the main vectors of transformation of innovative development of high-tech industrial enterprises, the necessity of wide use of capital of private business in the form of portfolio investments co-financed by the innovative projects.

Practical usefulness. The increase in the share capital of private business in implementing innovative programs will reduce the financial burden on the federal budget. To increase the possibility of accelerating the processes of development of public-private partnerships and venture financing. Will expand the scope of use of the capital of private business in creating science-based dual-use products, implementation-oriented private commercial contracts in various sectors of the economy.

 The future economic development of the country depends on the development and implementation of new technological researches that can make a certain breakthrough in providing technological and economic growth. The life cycle (LC) of any innovation embodied in specific correlation: Innovative idea → Conducting of fundamental research studies →R&D → Pilot production → Mass production → Gradual elimination of aging equipment and technology with better analogues.

Keywords: Life cycle of an innovation, transformation of management, innovative infrastructure, portfolio investments, innovative appeal.

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