The essence of financial recovery of companies in the modern Kazakh economy

Abstract

The issue of financial recovery of enterprises is still relevant. This article examines the financial recovery of companies in the modern Kazakh economy, the problems of its implementation. Despite a significant number of works by foreign and domestic researchers on the financial recovery of companies, this problem cannot be considered fully completed. Moreover, modern trends in the global economy at the beginning of the XX1 century gave rise to a new wave of development of small enterprises in different countries of the world, including highly developed ones. Therefore, the purpose of the study was to study the theoretical aspects of financial recovery of modern companies. The main directions of the article are: clarification of the essence of the concepts of «financial recovery», «financial potential» and their con-nection with the category «bankruptcy», study of the basics of legal regulation of the financial recovery process in Kazakhstan. The research methodology is based on the principles of systematic, comprehen-sive and retrospective analysis, etc. The scientific novelty of the research consists in the theoretical jus-tification and methodological development of conceptual aspects of financial recovery of the enterprise. Research has shown that the success of financial recovery of enterprises largely depends on the degree of validity of management decisions. Financial recovery involves not only restoring solvency, but also ensuring optimal use of the financial potential of the enterprise, which makes the problem of financial recovery relevant not only for enterprises in crisis, but also for successfully functioning organizations.

Keywords

• financial recovery
• financial potential
• rehabilitation
• bankruptcy
• solvency