PROSPECTS OF MINIMIZING THE LEVEL OF FINANCIAL RISKS DUE TO THE IMPLEMENTATION OF FINANCIAL CONTROLLING AT THE ENTERPRISE

Abstract

The article substantiates the relevance and significance of the implementation of financial controlling in the financial and economic activities of enterprises. The role of the implementation of financial controlling in improving the functioning of enterprises is presented. Financial controlling should be considered a highly effective tool for achieving minimization of the impact of financial risks on the processes of the company's functioning. The main functions of financial controlling are presented and the components of the financial controlling system at enterprises are characterized. Financial controlling should be noted as a highly effective coordinating system for ensuring relationships between the formation of an information base, financial analysis, financial planning and internal financial control at the enterprise. The expediency of forming hedging strategies in order to minimize financial risks in the process of the enterprise's management process is argued. One of the prospects for reducing the level of financial risks is the hedging process, which is characterized by the use of mechanisms to neutralize the risk of probable financial losses: both internal (which are carried out by the company independently) and external (based on the transfer of risks to other entities). The methods of minimizing financial risks, which are recommended to join financial controllers at the enterprise, are highlighted. Ways to avoid financial risks and the possibility of obtaining additional sources of profit formation of the enterprise are presented. The processes of neutralization of financial risks in the financial controlling system must be based on certain conditions, and it is worth emphasizing that the rejection of one financial risk does not generate the occurrence of another risk of a higher or equivalent level. The mechanism of financial controlling of the enterprise based on the minimization of financial risks is described. Financial controlling needs to focus on financial operations that are not typical for the financial activities of the enterprise and are of an innovative nature.