KEY ASPECTS OF MANAGEMENT OF FINANCIAL RESOURCES IN MODERN CONDITIONS

Abstract

This article discusses the key aspects of managing financial resources in the conditions of an unfavorable economic situation. The essence and importance of financial management in organizations are analyzed. The concepts of "financial management" and "financial resources", "financial resources management", "financial mechanism", "financial management methods" are defined. The mechanism of the process of managing financial resources of enterprises and organizations in the modern realities of conducting business processes is considered in detail. The specific features of the process of managing financial resources are provided and thoroughly characterized. The main goals of financial management are defined. The methods of managing financial resources are presented and characterized, as well as the structure of the financial resources management mechanism. Proposals regarding the effective functioning of the financial resources management process have been provided. Today, the domestic economic system is exposed to many risks and crisis phenomena, including currency fluctuations, production cuts, high credit rates, and many others. It is these factors that require the development and use of adaptive mechanisms for managing the financial resources of enterprises and institutions, the development of improved financial management methods to ensure their stable functioning. That is, solving the problem of inefficient financial management is extremely urgent and requires thorough study. Providing the organization with financial resources is a complex economic process of finding effective mechanisms for mobilizing income and external revenues, which aims to fulfill financial obligations, as well as expenses for ensuring the viability of the organization, which are formed as a result of the effective activity of subjects of market relations, and as well as accumulation of funds on the financial market. Thus, the principles and methods of development and implementation of management decisions related to the creation, distribution and use of financial reserves of enterprises and the organization of the circulation of its funds are necessary factors of financial resources management.