{"id":15866,"date":"2021-09-20T00:22:31","date_gmt":"2021-09-19T21:22:31","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=15866"},"modified":"2021-09-27T10:36:29","modified_gmt":"2021-09-27T07:36:29","slug":"discounting-of-receivables-in-the","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/discounting-of-receivables-in-the\/","title":{"rendered":"Buriak A., Boiko S., Demianenko I. Discounting of receivables in the system of financial management of the enterprise"},"content":{"rendered":"

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JEL Classification<\/strong>: G32<\/em>.<\/em>
\n<\/span><\/td>\n		DOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V28(2021)-05<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][vc_column_text]<\/p>\n

Buriak Alina, <\/strong>PhD in Economics, Associate Professor of Finance Department, National University of Life and Environmental Sciences of Ukraine, Kyiv, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0003-0886-317<\/a><\/span>
\ne-mail:<\/strong> alina.v.bu@online.ua<\/span><\/a><\/p>\n

Boiko Svitlana, <\/strong>PhD in Economics, Associate Professor of Finance Department, National University of Food Technologies, Kyiv, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0002-1333-0397<\/a><\/span>
\ne-mail:<\/strong> svitlanaboyko@ukr.net<\/span><\/a><\/p>\n

Demianenko Inna, <\/strong>PhD in Economics, Associate Professor of Finance Department, National University of Food Technologies<\/p>\n

ORCID ID:<\/strong> 0000-0003-3294-9811<\/a><\/span>
\ne-mail:<\/strong> i.demyanenko@ukr.net<\/span><\/a><\/p>\n

<\/h2>\n

Discounting of Receivables in the System of Financial Management of the Enterprise<\/h2>\n

 <\/p>\n

Abstract. Introduction.<\/strong> The transformation of the financial management of the enterprise takes place not only under the influence of scientific research and progressive experience, as well as changes in current tax, currency and investment legislation.
\nThe change in financial management was influenced by the Order of the Ministry of Finance of Ukraine dated September 16, 2019 \u2116 379, which approved the need to determine the present value of long-term receivables.<\/p>\n

Purpose.<\/strong> The purpose of the article is to summarize the provisions of current legislation on discounting receivables and to develop of directions ofreforming the financial management of the enterprise in terms of the introduction of mandatory discounting of receivables.<\/p>\n

Results.<\/strong> The study of discounting receivables in the financial management system of the enterprise involves understanding the discounting of receivables as a process of reducing future cash flows to present value in the context of managing the formation, distribution and use of financial resources and optimize cash flow. The structural and logical scheme of discounting of receivables in the system of financial management of the enterprise is offered. The approaches to determining the discount rate of receivables on the basis of generalization of recommendations of the State Fiscal Service of Ukraine and the Ministry of Finance of Ukraine are generalized.
\nRecommendation letters and news reports of state financial institutions offer a choice of discount rate that provides legitimate company to vary the size of losses from cost reduction and vary the size of the tax difference in determining tax liabilities in calculating income tax
\nAn example of choosing the discount rate for receivables for PrJSC \u201cMyronivsky Plant for Manufacturing Groats and Feeds\u201d in 2019-2020 is given..<\/p>\n

Conclusions<\/strong>. Discounting of receivables in the financial management system of the enterprise is proposed to be considered as a holistic system, which is based on the principles of financial management and is designed to organize the interaction of objects and subjects of discounting receivables. Discounting of receivables in the financial management system of the enterprise is proposed to be considered as a set of eight stages.<\/p>\n

Keywords: <\/strong>discounting; discount rate; receivables; financial management; present value.<\/p>\n

References:<\/strong><\/p>\n

    \n
  1. Ministry of Finance of Ukraine (2019). On approval of Amendments to certain normative legal acts of the Ministry of Finance of Ukraine on accounting. (Order No. 379, September 16). Retrieved from : https:\/\/zakon.rada.gov.ua\/laws\/show\/z1065-19#Text [in Ukrainian].<\/li>\n
  2. Len, V. S. & Hlyvenko, V. V. (2020). Long-term receivables and liabilities in accounting and reporting. Oblik i finansy, 3, 30-40 doi: https:\/\/doi.org\/10.33146\/2307-9878-2020-3(89)-30-40 [in Ukrainian].<\/li>\n
  3. Turpak, T., Boiko, N., Karlova, I. & Masalitina, V. (2021). Discounting of receivables in accounting and analysis. Efektyvna ekonomika, 2. Retrieved from : http:\/\/www.economy.nayka.com.ua\/?op=1&z=8670 doi: 10.32702\/2307-2105-2021.2.97 [in Ukrainian].<\/li>\n
  4. Kravchuk, T. V. & Vysochyna, A. V. (2018). Analysis of methods for calculating the discount rate when correctly reflecting long-term receivables at fair value. Skhidna Yevropa: ekonomika, biznes ta upravlinnia, 5, 258-261 [in Ukrainian].<\/li>\n
  5. Tralo, I. (2020). Accounting and analysis of discounted long-term receivables (Ph.D. Thesis). Accounting, analysis and audit, Zhytomyr Polytechnic State University [in Ukrainian].<\/li>\n
  6. Poddierohin, \u0410. M., Babiak, N. D. & Bilyk, M. D. (2017). Finansovyi menedzhment. Kyiv : KNEU [in Ukrainian].<\/li>\n
  7. Ministry of Finance of Ukraine (1999). Regulation (Standard) of accounting 10 Receivables. (Order No. 237, October 08). Retrieved from : https:\/\/zakon.rada.gov.ua\/laws\/show\/z0725-99#Text [in Ukrainian].<\/li>\n
  8. Tereshchenko, O. O. (2010). Discount rate in making financial and investment decisions. Finansy Ukrainy, 9, 77-99 [in Ukrainian].<\/li>\n
  9. State Fiscal Service of Ukraine (2018). On inspections of certain issues of accounting for receivables and payables. (Letter No. 18311\/7\/99-99-14-03-03-17, June18). Retrieved from : https:\/\/zakon.rada.gov.ua\/rada\/show\/v1831872-18#Text [in Ukrainian].<\/li>\n
  10. Ministry of Finance of Ukraine (2000). Regulation (Standard) of accounting 12 \u201cFinancial investments\u201d. (Order No. 91, April 26). Retrieved from : https:\/\/zakon.rada.gov.ua\/rada\/show\/z0284-00#Text [in Ukrainian].<\/li>\n
  11. Ministry of Finance of Ukraine (2020). Regarding the discount rate of long-term receivables and long-term liabilities. (Information message, July 21). Retrieved from : mof.gov.ua\/storage\/files\/\u0406\u043d\u0444\u043e\u0440\u043c\u0430\u0446\u0456\u0439\u043d\u0435%20\u043f\u043e\u0432\u0456\u0434\u043e\u043c\u043b\u0435\u043d\u043d\u044f_1.pdf [in Ukrainian].<\/li>\n
  12. Stockmarket. Regular information of PrJSC \u201cMyronivsky Plant for Manufacturing Groats and Feeds\u201d, 2019. Retrieved from : https:\/\/stockmarket.gov.ua\/cabinet\/xml\/show\/47008 [in Ukrainian].<\/li>\n
  13. Stockmarket. Regular information of PrJSC \u201cMyronivsky Plant for Manufacturing Groats and Feeds\u201d, 2020. Retrieved from : https:\/\/stockmarket.gov.ua\/cabinet\/xml\/show\/59787 [in Ukrainian].<\/li>\n
  14. National Bank of Ukraine. Interest rates on bank refinancing by the National Bank of Ukraine.. Retrieved from https:\/\/bank.gov.ua\/ua\/statistic\/sector-financial\/data-sector-financial#1ms [in Ukrainian].<\/li>\n
  15. National Bank of Ukraine. Sovereign bond yields. Retrieved from : https:\/\/bank.gov.ua\/ua\/statistic\/sector-financial\/data-sector-financial#1ms [in Ukrainian].<\/li>\n
  16. National Bank of Ukraine. Interest rates on new deposits of non-financial corporations in terms of types of currencies and maturities. Retrieved from : https:\/\/bank.gov.ua\/ua\/statistic\/sector-financial\/data-sector-financial#1ms [in Ukrainian].<\/li>\n
  17. National Bank of Ukraine. Interest rates on new loans to non-financial corporations in terms of currencies and maturities. Retrieved from : https:\/\/bank.gov.ua\/ua\/statistic\/sector-financial\/data-sector-financial#1ms [in Ukrainian].<\/li>\n
  18. National Bank of Ukraine. The National Bank maintained the inflation forecast for 2019-2021 and improved the assessment of economic growth. Retrieved from : https:\/\/bank.gov.ua\/ua\/news\/all\/natsionalniy-bank-zberig-prognoz-inflyatsiyi-na-2019-2021-roki-i-polipshiv-otsinku-zrostannya-ekonomiki [in Ukrainian].<\/li>\n<\/ol>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received: <\/strong>25 July 2021<\/span><\/strong><\/p>\n

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    Buriak A., Boiko S., Demianenko I. (2021). Discounting of receivables in the system of financial management of the enterprise. Modern Economics<\/em>, 28(2021), 33-39. DOI: https:\/\/doi.org\/10.31521\/modecon.V28(2021)-05.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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    [vc_row][vc_column][vc_column_text] JEL Classification: G32. DOI: https:\/\/doi.org\/10.31521\/modecon.V28(2021)-05 [\/vc_column_text][vc_column_text] Buriak Alina, PhD in Economics, Associate Professor of Finance Department, National University of Life and Environmental Sciences of Ukraine, Kyiv, Ukraine ORCID ID: 0000-0003-0886-317 e-mail: alina.v.bu@online.ua Boiko Svitlana, PhD in Economics, Associate Professor of Finance Department, National University of Food Technologies, Kyiv, Ukraine ORCID ID: 0000-0002-1333-0397 e-mail: svitlanaboyko@ukr.net
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