Poznakhovsky V. A., Ph.D. in Economics, Associate Professor, Lecturer of Economic Disciplines, Separated structural subdivision «Rivne Professional College of the National University of Life and Environmental Sciences of Ukraine», Rivne, Ukraine

ORCID ID: 0000-0001-7923-7534
e-mail: v.a.poznakhovskyi@gmail.com

Diagnostics of the Financial Condition of Enterprises Under Modern Economic Conditions

Abstract. Introduction. The instability of the Ukrainian business environment — caused by wartime disruptions, prolonged crisis, and structural economic imbalances — necessitates a systematic approach to evaluating enterprises’ financial health. Challenges include impaired payment cycles, volatile resource prices, and regulatory shifts that directly affect solvency, liquidity, and operational stability.

Purpose. This paper proposes a methodological framework for assessing an enterprise’s financial viability by integrating key metrics such as solvency, liquidity, financial resilience, and operational efficiency. The objective is to construct a flexible diagnostic tool that accounts for both internal capital structure and external environmental challenges.

Methods. The approach incorporates elements of vertical and horizontal analysis, decomposition of balance sheet components, financial ratio evaluation, and graphical data representation. Comparative and functional analysis techniques are also employed to interpret dynamic trends in financial performance.

Results. The findings reveal critical imbalances in current asset structure and funding sources that reduce operational sustainability. Financial coefficients indicate insufficient liquidity reserves and pressure on long-term solvency. Recommendations are made regarding reallocation of capital, asset optimization, and correction of liquidity gaps.

Conclusions. The proposed diagnostic system offers practical tools for financial managers, analysts, and auditors engaged in stabilizing enterprise finance under uncertainty. Its implementation supports risk assessment, restructuring strategies, and informed economic decision-making in crisis conditions.

Keywords: financial condition; diagnostics; enterprise; solvency; liquidity; financial ratios; structural analysis; crisis economy.

References:

1. Blank, I. O. (2004). Financial Stability Management of the Enterprise. Kyiv: Nika-Center. [in Ukrainian]
2. Mochernyi, S. V. (2006). Fundamentals of Entrepreneurial Activity. Lviv: Spolom. [in Ukrainian]
3. Lysenko, S. G., & Savchenko, T. V. (2015). Financial Stability of the Enterprise: Assessment Methodology and Directions for Ensuring It. Kharkiv: Inzhek. [in Ukrainian]
4. Gadanecz, B., & Jayaram, K. (2014). Indicators for Financial System Stress and Their Use in Macroprudential Policy. BIS Working Papers, (397), 1–38. https://www.bis.org/publ/work397.pdf
5. Gutiérrez García, J., & Píriz Chavarri, Á. (2020). Bank Diagnostics in Stabilization Programmes: Lessons from Southern Europe. Journal of Financial Stability, 45, 77–89. https://doi.org/10.1016/j.jfs.2020.100705
6. Borrazzia, G., & Espinoza, R. (2017). Financial Conditions Indices and Macroeconomic Performance. IMF Working Paper, WP/17/102, 1–32. https://www.imf.org/en/Publications/WP/Issues/2017/05/05/Financial-Conditions-Indices-and-Macroeconomic-Performance-44853
7. European Commission. (2023). European Economic Forecast – Spring 2023. Luxembourg: Publications Office of the EU. https://economy-finance.ec.europa.eu/publications/european-economic-forecast-spring-2023_en
8. International Monetary Fund. (2023). Global Financial Stability Report: Navigating the High-Inflation Environment. Washington, DC: IMF. https://www.imf.org/en/Publications/GFSR/Issues/2023/04/11/global-financial-stability-report-april-2023
9. World Bank Group. (2021). Financial Sector Development and Stability Diagnostic. Washington, DC: The World Bank. https://documents.worldbank.org/en/publication/documents-reports/documentdetail/665141626885091956
10. Lakhtionova, L. A. (2010). Development of a General Grouping System for Relative Indicators of Financial Stability in External Financial Analysis. Scientific Works of Cherkasy State Technological University. Series “Economic Sciences”, 25(1), 274–278. [in Ukrainian]
11. Smetaniuk, O. A. (2006). Diagnostics of the Financial State of an Enterprise in the Anti-Crisis Management System. Abstract of PhD Thesis in Economics. Khmelnytskyi National University. [in Ukrainian]
12. Sokolska, R. V., Zelikman, V. D., & Akimova, T. V. (2016). Financial Analysis. Part 1: Special Methods of Analysis. Dnipro: NMetAU. [in Ukrainian]