DIAGNOSIS OF FINANCIAL SECURITY LEVEL AS THE MAIN TOOL OF FINANCIAL STRATEGY DEVELOPMENT OF OIL-EXTRACTION COMPANIES

Abstract

The article is devoted to the consideration of modern financial instruments for diagnosing the level of financial safety of companies in the oil-and-fat industry. A three-tiered system for assessing financial safety has been developed for the oil-extraction companies, based on a review of modern approaches to assessing financial safety. The system includes a classic financial analysis tool (coefficient model and discriminatory bankruptcy forecasting models), a financial stability assessment tool (definition of current financial stability and modified balance model), and a value-based management model toolkit «VBM–EVA–BSC»). It has been shown that the most popular approach to diagnosing the financial safety of a company in practice is the coefficient method, which includes estimation and analysis of key financial indicators: profitability, business activity, solvency, and financial stability. On the basis of the coefficient model, a diagnosis was made of the level of financial safety of the leading domestic vegetable oil-extraction companies. The consolidation of the results made it possible to develop a matrix of strategic financial position of the internal financial environment of oil-extraction companies. On the basis of the trends and prospects for further development of the oil-and-fat industry of Ukraine, a matrix of the strategic financial position of the external financial environment for the companies studied has been developed, which determines their development possibilities and potential threats. The combination of the two matrices of strategic financial position of oil-extractions companies has led to the development of a matrix of possible strategic directions for their financial development, with the identification of the desired financial strategy within the framework of the desired level of financial security.