The economic activity of any enterprise includes several components. One of its components is financial policy. It is expressed in the totality of activities carried out by the owner, labor collective, administration (in accordance with the form of ownership and type of management). These activities constitute financial policy instruments. It is carried out to find and use means to solve the main tasks and the implementation of the main goals.
The set of measures contains the development of concepts that are scientifically sound and aimed at the formation of activities, the establishment of key areas for the use of funds. Current financial needs affect the duration of these activities. Equally important is the study of demand for services and products, the assessment of various (material, intellectual, labor, information) resources of an organization, and the forecasting of performance. Thus, the company can carry out medium-, long- and short-term financial policies.
Directions for the use of funds are established taking into account the goals set, the developed concept, and the organization's position on the market. Short-term financial policy contributes to the most complete and effective application and increase of financial potential. It reflects the targeted use of the means by which tactical and strategic tasks are determined, defined by the charter (constituent documents) of the organization.
Short-term financial policy allows you to strengthen your position in the market of services (products), achieve optimal sales, profitability and profit, maintain solvency and liquidity balance.
In rather severe conditions of high inflation, instability of the economic environment, and the crisis of non-payments, many organizations are forced to take measures aimed at survival. Short-term financial policy contributes to solving current problems, however, at the same time it forms some contradictions between the fiscal interests of the government and organizations. Contradictions are also noted between the profitability of production and the cost of external borrowing, the profitability of the stock market and equity, and others.
It should be noted the versatility of the content of financial policy. It consists of several main links. Among them are the following:
1. The development of an acceptable concept for regulating the organization’s cash flows, which will provide protection against commercial risk and high profitability.
2. Determination of the main directions for the use of financial resources for the coming period. At the same time, the possibility of developing production and trading activities, as well as macroeconomic conditions (discount rate, taxation, depreciation rates, etc.) is taken into account.
3. Implementation of practical measures that are aimed at achieving the intended goals. These include, in particular, financial control and analysis, evaluation of real investment projects and financial assets, the choice of method of financing the organization, and others.
The combination of these three main components makes up the content of activities related to the formation and use of monetary resources. The development of an effective system of financial regulation is associated with the emergence of problems related to the harmonization of the development of the interests of the organization, the presence of the optimal amount of financial resources, as well as maintaining solvency at a high level.