Iatsukh O. Financial support dominants of agricultural enterprises activity: theory, methodology, practice

The important scientific problem concerning the formation of theoretical and methodological provisions, the development of methodological approaches and the development of practical recommendations for the substantiation and use of financial support dominants for the activities of agricultural enterprises in the context of strategic development of the agricultural sector of the national economy have been decided in the dissertation. The definition of "financial support for the activity of agricultural enterprises" has been further developed. Its peculiarity is the consideration of the unity of the financial mechanism and the institutions that implement it. The theoretical foundations of the institutional support of the mechanism of financial support for the activity of agricultural enterprises have been summarized, taking into account the normative-legal, organizational, regulated, and economic aspects. The concept of forming a system of financial support for the activity of agricultural enterprises with the priority of strategic orientation of the state financial policy to stimulate the renewal of fixed assets of agricultural enterprises has been substantiated for the first time. The methodological approach to the assessment of the quality of financial support of agricultural enterprises has been improved, which, unlike the existing ones, involves the use of a reasonable system of significant indicators, selected using the method of expert assessments by the system of indicators that assess the financial condition. The methodological approach to the assessment of the level of self-financing of agricultural enterprises and the carrying out of preventive diagnostics of their financial condition has been improved. The methodological approach to the evaluation of the value of borrowed financial resources by dominant forms has been formed for the first time. Dominant forms are credit, forward, leasing and transactions with commodity and financial agrarian receipts. Methodological support of analysis of financial results of activity and financial condition of agricultural enterprises has been improved, which allows to comprehensively predict the quality of financial support of activities of agricultural enterprises, to develop their strategic and tactical financing plans and to determine priority directions of state financial support for agricultural enterprises. The impact of the simplified system and special tax regimes on the formation of financial results of the management of the agricultural enterprises on the one hand, and the formation of budget revenues of all levels, on the other has been determined on the basis of a comprehensive assessment of the current tax policy. The indicator “socio-economic load per hectare of agricultural land” has been proposed for use for the first time in theoretical support on the formation of the tax state policy. The system of bank crediting of the agricultural enterprises activity has been analyzed. The institutional support for attracting additional financial resources in the business of the agricultural enterprises under a bank loan has been evaluated. The procedure of using forward contracts for the formation of financial support for agricultural enterprises has been further developed. The concept of "agrarian forward" has been introduced into the conceptual and categorical apparatus of the methodology of financial support of agricultural enterprises for the first time. Theoretical and regulatory underpinning of financial leasing operations as one of the modern and promising financial instruments for attracting financial resources to upgrade fixed assets for the production of agricultural enterprises has been generalized. A methodological support for the use of agrarian receipts as a dominant of financial support of agricultural enterprises has been developed. The choice of dominants of financial support of agricultural enterprises activity, a feature of which is taking into account their target orientation and the indicator of the effect of financial leverage, has been further developed in order to substantiate the forms of attraction of financial resources. The definition of appropriate scenarios for the justification of the dominant features of financial support for the activities of agricultural enterprises has been further developed, enabling the selection of effective financial support options for upgrading fixed assets. The content and sequence of the stages of the process of determining the financial competitiveness of agricultural enterprises (agroholdings) in the context of the globalization of the food market have been further developed. Prospective directions of alternative sources of attraction of financial resources in the business of the agricultural enterprises have been identified. They are funds attracted with the use of international agrarian receipts, credit and grants of international financial institutions.