Yashina N.I.Lobachevsky State University of Nizhny Novgorod - National Research University (UNN), Nizhny Novgorod, Russian Federation paa@hotmail.ru
Yashin K.S.Lobachevsky State University of Nizhny Novgorod - National Research University (UNN), Nizhny Novgorod, Russian Federation jashinmed@gmail.com
Financial condition is the most important characteristic of economic activity of an institution which determines its competitiveness and business cooperation potential. The financial condition of an institution also assesses to what extent the economic interests of an institution and its partners are guaranteed in terms of their financial and operational activities. At the present stage there are problems related to determining a type of health institutions organization; there are no methods to assess their financial status, which would cover in detail all aspects of State-financed organizations' activities and enable to calculate liquidity ratios, financial strength, business activity and profitability of health care organizations. In addition, in the environment of constantly changing external factors, new opportunities emerge now and then that help to improve the performance of an institution. The management personnel must have skills to realistically assess the financial condition of their institution and potential competitors. To improve the financial analysis of State-financed institutions, we present a ratio analysis technique using the financial statements of the said institutions. We have analyzed the financial condition and the economic potential of a number of health institutions of the Nizhny Novgorod region. Our method of evaluation of financial position and economic potential, which is based on the adaptation of formulae to the financial statements of medical and preventive treatment facilities, enables to specify a type of institution to improve the performance of the said facilities.
Keywords: State-funded, institutions, autonomous, facilities, government agency, economic potential, ratio analysis
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