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The essence and calculation techniques of gross and marginal profit

Savitskaya G.V. PhD in Economics, professor, Belarusian State Economic University ( glafira.savickaja@mail.ru )

Journal: Economic Analysis: Theory and Practice, #18, 2012

The article focuses on the problem of necessity of differentiation between the concepts of "gross profit" and "marginal profit". The economic essence, calculation techniques and the functions of the given indicators are considered.


Deterministic modeling problems of business profitability

Savitskaya G.V. PhD in Economics, Professor of department "Accounting, Analysis and Audit in Agriculture and Transport", the Belarus State Economic University ( glafira.savickaja@mail.ru )

Journal: Economic Analysis: Theory and Practice, #46, 2012

In the article the problems of creation of the determined factorial models of indicators of profitability are considered and the recommendations on their improvement from a position of system approach are presented.


Current approaches to calculating the operating and financial cycle duration: An update

Savitskaya G.V. Belarus State Economic University, Minsk, Republic of Belarus ( glafira.savickaja@mail.ru )

Journal: Economic Analysis: Theory and Practice, #8, 2018

Importance The article considers operating and financial cycles being the key indicators of efficient management of working capital. There are differences in opinions on how to define and calculate them.
Objectives The study aims to perform a comprehensive analysis of the areas of concern in the methodology for calculating the duration of operating and financial cycle, and to substantiate an original position on the problems under consideration.
Methods Works of domestic and international economists on financial analysis create the theoretical and methodological basis of the research. I apply a historical approach involving general and special methods of analysis, synthesis and analogies.
Results The paper redefined economic essence and calculation techniques of operating and financial cycles duration and their components.
Conclusions The proposed approach may serve as a basis for further development of the financial analysis methodology, and as a methodological guide for business entities to monitor and make business decisions in the process of working capital management.


Problematic aspects of calculating the financial leverage effect

Savitskaya G.V. Belarus State Economic University, Minsk, Republic of Belarus ( glafira.savickaja@mail.ru )

Journal: Economic Analysis: Theory and Practice, #5, 2016

Importance Financial leverage is a key indicator of sustainable functioning of organizations. It has an impact on investors' effective strategic decisions. Professional judgment and competence of analysts play an important role in determining and assessing the effect of financial leverage, as IFRS do not imply strict standardization of the financial statements' figures formation. All of the above reinforces the relevance of unbiased assessment of efficient use of borrowings and the effect of financial leverage calculation.
Objectives The aim is to justify proposals for improving the financial leverage calculation methodology as applied to current economic conditions.
Methods The study employs a historical approach, general and special methods of analysis, synthesis and analogies.
Results I considered problematic aspects of methodology for determining the effect of financial leverage, performed their critical analysis, improved algorithms to calculate this indicator taking into account the inflation component for unbiased assessment and prediction of the financial leverage effect.
Conclusions and Relevance The considered issues will serve as a basis for further development of the methodology for assessing the efficiency of borrowed funds use, and as a guidance in the practical management of economic entities.


Problematic aspects of calculating the capital turnover indicators

Savitskaya G.V. Belarus State Economic University, Minsk, Republic of Belarus ( glafira.savickaja@mail.ru )

Journal: Economic Analysis: Theory and Practice, #5, 2018

Importance Indicators of capital turnover characterize business activity of a business entity from a financial perspective. Regular monitoring of the rate of capital turnover is of great importance to ensure an effective mechanism of capital management. However, there are a lot of discrepancies in the methodology for capital turnover calculation in the scientific and educational literature, and many indicators have appeared that have no economic rationale and practical significance.
Objectives The study aims to investigate problematic aspects of identification and assessment of the rate of capital turnover and justify my own position on the issues.
Methods Works by domestic and foreign economists on finance and capital management create a theoretical and methodological basis of the research. I apply the historical approach alongside with general and special methods of analysis, synthesis and analogies.
Results The paper provides a more exact definition of the framework of categories and concepts, the economic substance of capital turnover indicators, and methods for their calculation.
Conclusions The proposed approach will serve as a basis for further development of the methodology for analyzing the economic efficiency of business, and as a methodological guidance for business entities' practical management when exercising control and making business decisions in the process of working capital management.


Economic substance of working capital as an object of accounting and analysis

Savitskaya G.V. Belarus State Economic University, Minsk, Republic of Belarus ( glafira.savickaja@mail.ru )

Gudkova E.A. Belarusian State Agricultural Academy, Gorki, Republic of Belarus ( alenagudkova@mail.ru )

Journal: Economic Analysis: Theory and Practice, #4, 2018

Importance Recently, the concepts of working capital and current assets have been interpreted differently in economic literature. The lack of uniformity in terminology causes a gap in information flows that are generated in the accounting system and required for analysis and efficient financial management. This fact necessitates a deeper examination of their economic nature, substance and content.
Objectives We focus on a comprehensive study of problematic issues related to defining the economic substance of working capital based on its key parameters.
Methods Works of domestic and foreign economists on finance and capital management serve as a theoretical and methodological framework for the study. We employ historical approach, general and special methods of analysis, synthesis and analogies.
Results In the paper, we present our own position on defining the economic substance of current assets and working capital categories, their content and identification.
Conclusions The offered approach may contribute to further development of methods of financial analysis and serve as a methodological guidance for business entities to exercise control and make business decisions in their management of working capital.


Updating the Existing Approaches to Gauging the Length of Operating and Cash Conversion Cycles

Savitskaya G.V. Belarus State Economic University (BSEU), Minsk, Republic of Belarus ( glafira.savickaja@mail.ru )

Journal: Digest Finance, #3, 2018

Importance Operating and cash conversion cycles are one of the key performance indicators of working capital management. If they last longer, more working capital is required, while their decrease has the opposite effect. The duration measurement methodology is a frequent subject of discussion in the scholarly and training literature. However, there are dissenting opinions on their substance and measurement technique.
Objectives The research comprehensively studies challenging aspects of the methodology for measuring the duration of operating and cash conversion cycles and substantiates my own viewpoint on the issues.
Methods The theoretical and methodological framework comprises proceedings of the national and foreign economists majoring in financial analysis. I also use the historical approach, generic and special methods of analysis, synthesis and analogy.
Results I specify the economic substance and technique to gauge the duration of operating and cash conversion cycles and their constituents. To make the computations more precise, it is advisable to estimate inventories, receivables and payables using monthly or even daily balances, which are quite feasible as accounting and analytical data are processed electronically.
Conclusions and Relevance The proposed approach may serve as a basis for further development of the financial analysis methodology and methodological guide for business entities to monitor and make business decisions in the process of working capital management.


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