No 1 (2023)

In the modern conditions of the development of digitalization, an increase in the volume of the information used and the speed of decision-making, there comes an understanding that the effective control of various business processes can be ensured as promptly and efficiently as possible only through intra-production administration. Management control is designed to provide this function. At the same time, the implementation of control measures in relation to the accomplished facts of economic life is not enough to make effective management decisions. Therefore, it is necessary to carry out both the retrospective and prospective control. This problem determined the aim of this study, which is the development of such methodology for organizing management control, which will ensure the tax security of an economic entity through the application of preliminary and subsequent control procedures. This goal is achieved by clarifying the control environment elements available in the scientific literature and developing a list of relevant procedures for the management control of tax liabilities. The result of this study is the developed methodology for organizing management control, through which an acceptable level of tax security of enterprises is ensured. Within the framework of the study, the author paid special attention to the managerial control procedures, which allow realizing its prospective nature – tax analysis and tax passport completion. Within tax analysis, the author proposes separating the strategic and subsequent analysis. To assess the state of the tax system of an economic entity, a number of coefficients corresponding to the areas of tax analysis were developed and proposed for use in practice. Besides, the author proposed to form a tax passport of an enterprise and determined its structure. The organization of managerial control according to the proposed methodology contributes to the consistency of intra-production tax administration with the requirements of state tax control and ensures the stable tax security of an economic entity and the necessary information component for making management decisions related to tax liabilities.

Maintaining the competitiveness of enterprises is impossible without the implementation of investment projects. The current global situation, which requires enterprises to use modern solutions aimed at the Russian economy development in the face of sanctions dictates the necessity to develop investment activity. The study substantiates the need to develop methodological tools for evaluating an investment project. Based on the analysis of scientific literature and the systematization of the best practices, the author developed the most complete methodological toolkit for evaluating investment projects according to the FCFF and FCFE models, which allows increasing the assessment objectivity to make the most informed management decisions both on the part of an investment project initiator and on the part of an investor. The following key aspects formed the basis of the developed methodological toolkit for evaluating investment projects: checking a project for feasibility; reasonable choice of the discount rate taking into account a chosen model (FCFF or FCFE); taking into account the specifics of building a cash flow depending on the chosen model (FCFF or FCFE); the exclusion of “double counting”; correct accounting for inflation when forecasting cash flows; the compliance with the relevance principle when forecasting cash flows; taking into account risk and uncertainty when forecasting cash flows; the assessment of the investment project effectiveness; the analysis and assessment of risks from the perspective of various stakeholders (an initiator, an owner, a creditor, the state). The application of the proposed methodological toolkit will make it possible to take into account key aspects when forecasting cash flows, when choosing a discount rate, and when conducting an assessment, and thus will allow project initiators and owners to increase the investment portfolio efficiency due to the most objective assessment of projects.

The Russian economy is in urgent need of stable agriculture. There are various measures to support it, one of which is the provision of subsidies from the budgets of various levels. State financing is limited, and the procedure of its distribution is immensely important. At this stage of formation, development, and improvement of control over this instrument functioning, the mechanism for assessing the efficiency of the use of funds received or the selection of farms will be relevant. The study covers the approach to the numerical measurement of the efficiency of agriculture in the regions and the budgetary role of this indicator in terms of functioning of the mechanism for subsidizing the agro-industrial complex, as well as the creation of a possible model for linking subsidies and efficiency. The author calculated the coefficient of efficiency of the grain economy of the Krasnodar Krai regions using absolute and relative values. The calculations are based on the statistical basic indicators of farms of all categories, such as profitability (A profit (loss) before taxation according to the financial statements in the “Crop production 01.1+01.2+01.3” section / A revenue in the “Crop production 01.1+01.2+01.3” section), crop productivity. The author analyzed the current distribution of budgetary allocations: carried out the assessment of the relationship between the volumes of the subsidies provided and the coefficient of the performance efficiency of the districts. The level of interrelation of indicators is determined using the correlation coefficient. Based on the results of the calculations, no dependence was identified between the data arrays, in other words, the amount of budget funds provided is not directly dependent on the performance efficiency of the grain economy of the Krasnodar Krai.