Перегляд за Автор "Laktionova, O."

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    Financial sustainability of higher education institutions in the context of ensuring their development
    (2020) Laktionova, O.; Koval, V.; Slobodianiuk, O.; Prystupa, L.
    The article presents a strategic approach to the formation of financial sustainability of higher education institutions (HEIs), aimed at its development. It is determined that financial sustainability in the context of the strategy of the development is provided by the current solvency, as well as the created financial space, which contains two interrelated components: current (operational) financial space as financial opportunities created by exceeding the university income (for functioning), as well as strategic financial space as financial opportunities created by exceeding the income of the university its necessary expanses for the development. The indicators of financial stability have presented, which are taken into account during the financial management and setting appropriate strategic objectives that allows to assess the gap between the declared goals of the development strategy and financial opportunities, to make decisions about the optimization of operating and investment activities of HEI.It is proposed that operating financial space is also evaluated on the basis of its characteristics, such as: diversification of funding sources and revenues, their stability and flexibility of use. To maintain the financial sustainability of the university, it is also important to increase the profitability of educational programs and educational activities. It is justified that profitability maintains the financial sustainability of the HEI, thatmakes the increasing the profitability of educational programs and educational activities an impotent issue of financial management. Margin of safety in the income of the special fund from the main activity relative to the break-even point by the number of students of the university (faculty) one of the crucial profitability indicator, that requires appropriate managerial accounting system.
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    Документ
    INCOME AND FINANCIAL STABILITY OF UNIVERSITY: SECTORAL APROACH
    (Kyiv: University of Banking of National Bank of Ukraine, 2021) Laktionova, O.; Yurchyshena, L.; Matviychuk, V.
    The article synthesizes methodological approaches to assessing the financial stability of universities, identifies ambiguity in the choice of evaluation indicators. Approaches to understanding and assessing financial stability are identified: strategic, according to which financial stability is achieved through the ability of universities to diversify revenues, expand their own sources of funding, optimize costs, reduce dependence on public funding by making flexible financial decisions; current, which characterizes the ability of universities to balance revenues and expenditures, maintain a sufficient level of solvency and create a positive current financial space. Conceptual tools of financial stability of universities based on an integrated approach are formulated. The peculiarities of the influence of the sectoral aspect of the university activity and the corresponding potential of income formation on its financial stability are investigated. The results of the study are based on a sectoral approach to the distribution of universities (classical, technical, and economic), due to the specifics of contingent formation in relevant specialties, public financing priorities, their competitiveness in the market of educational services, the ability of universities to diversify and expand their funding. The assessment of financial stability is carried out in terms of the income approach, the ability of universities to generate income, cover costs and create a positive financial space. Technical and classical universities have the highest share of public funding due to priority specialties according to the government policy. Today the tuition fee at Ukrainian universities is much lower compared to public funding, so the growing share of fee-paying students does not have a positive effect on the financial stability of universities. According to the results of the analysis, it was found that the net financial results of universities do not depend on the sectoral and regional affiliation, status, size of the university. However, the ability to make effective financial decisions within the autonomy of universities, balance income and expenditure, form a sound financial structure, find additional sources of income to meet current and strategic financial obligations of the university are the preconditions for financial stability of universities.