Engineering of business processes in accounting support of cash management
Purpose. The purpose of the study is to develop the accounting aspect of business process engineering as the main tool in management.
Methodology / approach. The research uses methods of scientific abstraction, grouping and systematization to identify the current state and outline the directions of development of accounting engineering. Methods of analysis and synthesis, as well as the coefficient method for the development of the analytical component of cash management are used.
Results. Engineering is an effective tool for optimizing business processes of enterprises. It should be considered as a way of implementation into a certain sphere of human activity non-specific (foreign) tools, techniques, methods, etc., aimed at solving problems that cannot be solved by the existing tools specific to this area of activity. Accounting engineering is the process of developing, designing and implementing innovative tools, methods and techniques borrowed from other sciences that are used to improve accounting as a system that provides information to the management system. It is a platform for generating the accounting information needed to make strategic management decisions. The effect of accounting engineering is analyzed on the example of cash management, as current trends are focusing more and more on cash flow as the main object of financial management of the enterprise. A cash management mechanism based on accounting engineering is proposed, which includes the following stages: cash flow planning and forecasting, adherence to the schedule of receipts and payments within budget limits, evaluation of cash management efficiency.
Originality / scientific novelty. It is proved that the need for engineering for accounting science and practice is necessitated by the need to form special ways to solve problems that have remained unresolved for accounting for a long time and could not be solved due to limited methodological approaches, methods and techniques. The influence of accounting engineering on the efficiency of the management system on the example of cash management is outlined.
Practical value / implications. The application of business process engineering in cash flow management of the enterprise by assessing the value of the integrated indicator of cash flow management has identified a number of cash flow management problems, their causes, consequences (risks) for the company and provide suggestions to minimize identified risks.
2. Aksenova, E. A. (2011), Accounting engineering in resource management and enterprise economics. Russian entrepreneurship, vol. 2/2(178), pp. 107–112.
3. Andriushchenko, K., Buriachenko, A., Rozhko, O., Lavruk, O., Skok, P., Hlushchenko, Y., Muzychka, Y., Slavina, N., Buchynska, O. and Kondarevych, V. (2020), Peculiarities of sustainable development of enterprises in the context of digital transformation. Entrepreneurship and sustainability issues, vol. 7(3), pp. 2255–2270. http://doi.org/10.9770/jesi.2020.7.3(53).
4. Bazaluk, O., Yatsenko, O., Zakharchuk, O., Ovcharenko, A., Khrystenko, O. and Nitsenko, V. (2020), Dynamic development of the global organic food market and opportunities for Ukraine. Sustainability, vol. 12(17), 6963. https://doi.org/10.3390/su12176963.
5. Bilan, Yu. V., Nitsenko, V. S. and Samoilyk, Iu. V. (2017), Conceptual modeling of agri-food market development under economy’s globalization. Scientific bulletin of Polissia, no. 3(11), p. 1, pp. 54–61. https://doi.org/10.25140/2410-9576-2017-1-3(11)-54-61.
6. Sorter, G. Economic dictionary (n. d.), available at: http://mirslovarei.com/content_eco/SORTER-DZHORDZH-6361.html.
7. Gerasimovych, I. A. (2017), Accounting and analytical support of financial risk management and reserves of the enterprise. Finance, accounting and auditing, vol. 2 (30), pp. 202–214.
8. Gupta, A., Messerschmidt, D. C. and Herath, S. K. (2006), Business process reengineering and the management accountant. International Journal of Management and Enterprise Development, vol. 3, no. 1/2, pp. 98–113. https://doi.org/10.1504/IJMED.2006.008245.
9. Herath, S. K. (1996), The role of the management accountant in business process reengineering, available at: https://ro.uow.edu.au/theses/2280.
10. Kirieieva, E. А., Pryshliak, N. V., Shamanska, O. І., Salkova, I. Yu. and Kucher, A. V. (2019), Strategic priorities and financial support of Ukrainian agricultural sector development. International Journal of Ecological Economics & Statistics, vol. 40, no. 2, pp. 25–37.
11. Kolvakh, O. I. (2000), Situational-matrix accounting as one of the means of developing the theory of accounting in the conditions of modern software and information technologies. Audit and financial analysis, vol. 3, available at: http://www.cfin.ru/press/afa/2000-3/15_kol.shtml.
12. Kovalchuk, T. M. and Verhun, A. I. (2018), Аnalysis of the financial condition of enterprises by phases of their life cycle. Scientific bulletin of Polissia, vol. 2(14), part 2, pp. 31–38. http://doi.org/10.25140/2410-9576-2018-2-2(14)-31-38.
13. Kravchenko, O., Kucher, A., Hełdak, M., Kucher, L. and Wysmułek, J. (2020), Socio-economic transformations in Ukraine towards the sustainable development of agriculture. Sustainability, vol. 12(13), 5441. https://doi.org/10.3390/su12135441.
14. Marshall, J. F. and Bansal, V. K. (1998), Financial engineering: a complete guide to financial innovation. New York Inst of Finance, New York, USA.
15. Official site of the State Statistics Service of Ukraine (2020), available at: http://www.ukrstat.gov.ua.
16. Osaulenko, O., Yatsenko, О., Reznikova, N., Rusak, D. and Nitsenko, V. (2020), The productive capacity of countries through the prism of sustainable development goals: Challenges to international economic security and to competitiveness. Financial and credit activity: problems of theory and practice, vol. 2, no. 33, pp. 492–499. https://doi.org/10.18371/fcaptp.v2i33.207214.
17. Ostapenko, R., Herasymenko, Y., Nitsenko, V., Koliadenko, S., Balezentis, T. and Streimikiene, D. (2020), Analysis of production and sales of organic products in Ukrainian agricultural enterprises. Sustainability, vol. 12(8), 3416. https://doi.org/10.3390/su12083416.
18. Pilipczuk, O. (2020), Toward cognitive management accounting. Sustainability, vol. 12(12), 5108. https://doi.org/10.3390/su12125108.
19. Prodanchuk, M. (2019), Planning and forecasting in cash flow management. Effective business management, available at: https://5sfer.com/planirovaniye-i-prognozirovaniye-v-upravlenii-denezhnymi-potokami-tsikl-publikatsiy-effektivnoye-upravleniye-biznesom-stat-ya-2.
20. Pronko, L., Furman, I., Kucher, A. and Gontaruk, Y. (2020), Formation of a state support program for agricultural producers in Ukraine considering world experience. European Journal of Sustainable Development, vol. 9, no. 1, pp. 364–379. https://doi.org/10.14207/ejsd.2020.v9n1p364.
21. Shumeiko, M. V. (2012), The concept of accounting engineering tools. Terra Economicus, vol. 10, no. 1.2, pp. 72–77.
22. Skorev, M. M., Grafova, T. O., Kirishchieva, I. R. and Mishchenko, O. A. (2020), The use of accounting engineering elements in strategic accounting. Proceedings of the International Conference on Economics, Management and Technologies (ICEMT 2020). Atlantis Press, France. https://doi.org/10.2991/aebmr.k.200509.068.
23. Stone, R. (1962), Multiple Classifications in Social Accounting. Bulletin of the International Statistical Institute, vol. 3, pp. 215–233.
24. Tkach, V. I. (2013), Engineering accounting: formation and development of theory. International accounting, vol. 46(292), pp. 2–8.
25. Tkach, V. I. and Shumeiko, M. V. (2013), Engineering theory of accounting. Azov Print, Azov, Russia.
26. Yatsenko, О. М., Yatsenko, O. V., Nitsenko, V. S., Butova, D. V. and Reva, O. V. (2019), Asymmetry of the development of the world agricultural market. Financial and credit activity: problems of theory and practice, vol. 3, is. 30, pp. 423–434. https://doi.org/10.18371/fcaptp.v3i30.179821.
27. Zamula, I., Tanasiieva, M., Travin, V., Nitsenko, V., Balezentis, T. and Streimikiene, D. (2020), Assessment of the profitability of environmental activities in forestry. Sustainability, vol. 12(7), 2998. https://doi.org/10.3390/su12072998.
28. Zamula, I. V. (2016), Analysis of profitability of environmentally friendly products in marketing research. Actual economic problems, vol. 8(179), pp. 317–322.
29. Zhuk, V. M. (2013), Accounting engineering. The growing role of accounting in the modern economy: a collection of abstracts and reports of the first International Scientific and Practical Internet Conference, Kyiv, Ukraine.