2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Economic and financial activity is the subject of close attention of several scientific disciplines: economic theory, macroeconomics, management, statistics, accounting, economic analysis and others. The prerogative of economics is to study the impact of specific, general and particular economic factors on the development of an enterprise in a particular industry.
Statistics focuses on the quantitative side of various economic phenomena of a mass nature. The priority of accounting is the study of the circulation of cash flows and capital of enterprises in the process of production and financial activities. Its task is to document all business transactions and the associated financial flows.
Analysis of financialeconomic activity has absorbed the features of all these scientific disciplines. He explores both the financial and economic side of the activities of enterprises, and various production and economic aspects and phenomena. A distinctive feature is that the analysis of financial and economic activity does not consider production activities as a technological process, but explores and analyzes the results of management and economic processes inherent in a particular enterprise. And on the basis of the results obtained, the effectiveness of the enterprise is assessed.
The important functions of the AFHD are the analysis of the production activity of the enterprise and the rationale for current plans and development prospects. The analysis of financial and economic activity is designed to make a deep economic study of the results of managing the enterprise over the past period (5-10 years) and make a scientifically based forecast for the future. Without a detailed and thorough analysis of all the components and economic aspects of economic activity, without identifying the mistakes made and shortcomings that have taken place, it is impossible to develop clear plans for economic development and choose the best options for management decisions.
This is the main role of AFHD in the structure of economic sciences. The analysis of financial and economic activity examines the compliance with the declared development plans, the implementationmanagement decisions and the rationality of the use of resources and production capacities of a given business entity. AFHD carries out not only a statement of facts and an assessment of the results achieved. One of the purposes of this discipline is to identify errors, shortcomings and shortcomings in order to quickly influence economic and production processes.
One of the central functions of the AFHD, which it performs in the study of all aspects of activity, is to find resources and reserves that can increase the productivity and efficiency of the enterprise, as well as the quality of its products based on advanced scientific achievements.
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