Stepaniuk O. Evaluation of the efficiency of using current assets of oil and gas production companies

The dissertation is devoted to solving the applied and scientific problem of deepening and developing theoretical provisions and practical recommendations for evaluating the efficiency of using current assets of oil and gas production companies. The expediency of researching the range of problems of scientific knowledge of current assets in combination with its essential indications and distinctive features is argued. The paper shows the distinguishing features between current assets, circulating capital and working capital of the enterprise, which are in the form of their expression, participation in ordinary activities and ability to transformation changes and the interpretation of the essence of current assets is specified. The methodology for evaluating the efficiency of current assets use by economic and financial indicators is critically assessed, and the author's system of indicators for evaluating the efficiency of using current assets of oil and gas production companies is proposed, taking into account the industry specificity and limitations of information in the financial statements. The information support of estimating the efficiency of current assets use is analyzed, considering the covenants of the effectiveness of current assets application as a set of special conditions, the introduction of which will help to minimize the risks of economic losses of investors. The integral index of estimating the efficiency of current assets use with the adaptation of the system of indicators to the peculiarities and specificity of oil and gas production companies’ activity and the limited information in financial statements for the purpose of making management decisions is determined. An algorithm for managerial decision-making on investing with consideration of covenants was developed, which allowed us to form an optimal scenario for taking investment decisions for oil and gas production companies