Section 1. MACROECONOMIC RESEARCH

Miklovda V. Marhitich V. Fialkovskyi A.

THE CONTENT AND IMPERATIVES OF INNOVATION CULTURE

The article is devoted to the research of modern approaches to the essence of innovation culture, which is presented as an instrument of strategic management of socio-economic development of an enterprise, region, country in the process of building of their system specific advantages and created as a result of the synthesis of culture, economy and science, which gives a new quality of people's livelihoods and the functioning of economic systems. Innovative culture includes a complex of cultures. Technological culture is associated with the ability and desire to apply new technologies. Information culture presupposes the ways and purposes of building and filling databases, the objectivity and efficiency of information. Culture of creativity includes the ability to generate ideas that have an innovative and positive direction. The culture of innovation management is characterized by the ability and the desire to take risks, as well as the ability to transform new knowledge into economic benefits. The culture of behavior in the markets is to anticipate the necessity and expediency of the emergence of new needs, as well as ways of satisfying. Effective application of innovative culture is impossible without reliance on imperatives. Interactivity involves the interaction of all elements of innovation culture and its interaction with other components of the socio-economic system. System principle presupposes functioning and development as an integral complex of interrelated components. Strategic principle lies in the fact that the innovative values created in the modern period provide a background, the basis for obtaining future strategic advantages. Diversity is understood as the possibility of various ways of behavior of the economic system and its innovative culture under the influence of various factors or with the goal of achieving certain levels. Permanent: innovation culture functions and develops continuously, but at different rates.

Keywords: culture, innovations, innovation culture, development, management, principles.

Kubiniy V.

THE MODERN CONCEPTIONS OF THE INNOVATION CULTURE

In the process of research, the following approaches are identified to reveal the essence of innovative culture: process, which considers innovative culture as a sequence of actions; factor, within which innovations, in combination with culture, act as a factor in the development of society; institutional as a set of norms and values that prevail in society; institutional factor, within which the institution serves as an impetus for development; information and communication as one that creates certain content of information and its exchange and application; spatial, representing an innovative culture as a field on which various concepts, theories, artifacts are collected.The innovation culture is considered as a systemic phenomenon, which represents a set of innovative and culturable components that interact with each other and cause the emergence of new good and their qualities, which in turn is the basis of the development of society and its economic sphere. Within the framework of a systematic approach innovation culture is a matrix in which the development of innovations is displayed vertically, and horizontally the types of culture (economic, technological, and organizational). Economic culture characterizes the attitude of society and its individuals to the use of resources. Technological culture affirms the values that are embodied in the concept of development and are realized in the process of scientific and technological activity. Organizational culture determines those rules, norms, values, which form the basis of relations between their subjects in the process of creation, operation, organization and development of the enterprise, region or country as a whole. Organizational culture includes information, management and communications culture.

Keywords: innovative culture, process, factor, institutional approach, information and communication perspective, spatial concept, system.

Мoroz М.

DETERMINANTS OF INVESTMENT SECURITY IN UKRAINE

It has been highlighted the absence of an adequate level of investment security of Ukraine and unambiguous approaches to assessing its determinants and a comprehensive assessment of the state of its formation in the country. The level of gross accumulation in the GDP of Ukraine, in particular, the gross accumulation of fixed capital has been evaluated. The state of development of capital investments by domestic enterprises by types of assets, economic and industrial activities, regions and sources of financing have been analyzed, and attention is focused on shortcomings in this area. The evaluation of the activities of the State Fund for Regional Development has been given. Attraction of direct foreign investments to Ukraine and domestic investments into the countries of the world has been characterized. The levels of accumulation of foreign direct investment into the country on an accrual basis over the years of its independence, its annual growth and outflow, the sources of their receipt have been analyzed. The problems of accounting for inflows and foreign direct investments in Ukraine have been identified. The results of the recalculation of the cost of foreign direct investment stocks, recorded at the price of the last operation, taking into account its market value for 2010-2016, have been presented by the National Bank of Ukraine. It has been pointed out the influence of foreign investment as a source of foreign currency inflow into the country not only on the investment security of Ukraine, but also on its currency and debt security. The negative impact of the devaluation of the national monetary unit and the growth of the country's total debt on its investment security has been identified. The development of the investment loan market, the implementation of programs for the provision of loans from the State Budget of Ukraine and identified factors, that impede their proper implementation, have been estimated. The state of financial leasing, the value of the relevant contracts have been characterized. The state of domestic bank investment lending and the reasons for its underdevelopment have been examined, the characteristic features of the implementation of investment lending for innovation activities by banks of Ukraine have been revealed. The peculiarities of formation of the securities portfolio by Ukrainian banks have been revealed.

Кeywords: gross capital formation, investments, capital investments, foreign direct investment, international investment position, investment security.

Radionov Yu.

ON THE ISSUE OF FORMATION AND USE OF BUDGETARY POTENTIAL IN THE CONTEXT OF SOCIO-ECONOMIC DEVELOPMENT OF UKRAINE

The article deals with theoretical and methodological aspects of the formation and use of budgetary potential in the context of socioeconomic development of Ukraine. It is noted that the question of the formation and use of budgetary potential, despite numerous scientific works, has not yet received the proper scientific substantiation and solution. There are different views among scholars and there is no consensus on the essence and definition of the concept of "budgetary potential", just as it is not in the Budget Code of Ukraine. Meanwhile, management of budget potential is not characterized by complexity of the approach to its filling, there is no evaluation of use and systematic in solving the problems of socio-economic development. The author substantiates the necessity of using the budget potential to distribute the obtained results in two criteria: realized and "unrealized" opportunities. The reason for the emergence of "unrealized opportunities" is: ineffective, illegal, including misuse of budget funds. An assessment of the results will allow you to objectively assess how the achievements and analyze the mistakes made when using the budget potential. The author introduced the concept of "hidden reserve", which, due to various circumstances (corruption, fraud) does not participate in the formation of budgetary capacity, but is an important factor in its filling and contributes to self-sufficiency and independence of the budget. Since the basic basis and capacity of the budgetary potential depend not only on the available financial resources, but also on the "hidden reserves", which for any reason are not involved in the process of fiscal capacity building (for example, due to non-regulated legislation, the absence of mechanisms for its involvement in budgetary potential, etc.). Thus, a "hidden reserve" remains outside the reproductive process or is attached to it through the application of appropriate legislative and regulatory tools. The largest amounts of "hidden reserve" exist in those countries where underdeveloped or weakly developed democratic institutions, the system of public control does not work, and society does not take active part in the country's socio-economic processes. That is, the lack of development of democratic institutions directly affects the efficiency of administering taxes and fees, which form the basis of budgetary potential. Effective use of budget potential within the city, village, and separate territory should take into account the vector of economic and social development of the country. Since the budget potential can not be used solely, but only within the framework of the whole budget policy in different directions, which are consistent with the general economic policy of the state.

Keywords: budget, economic space, budgetary policy, financial resources, state budget, finances, local budgets, budget potential, institutes.

Svidruk І.

CONCEPTUAL FRAMEWORK OF INFRASTRUCTURE SUPPORT OF THE POSTINDUSTRIAL ECONOMY

The article deals with the issues of infrastructure and resource filling of the postindustrial economy, the potential of which consists of elements of the sphere of education, fundamental and applied science, communication networks, patent system. It is clarified that the primary role in this context is given to the development of scientific knowledge on the basis of new approaches to education and scientific institutions. Modern economic processes in Ukraine prove the need to implement the information and technological breakthrough of the national economy in order to overcome the negative effects of stagnation and achieve successful competitiveness in the system of the world economic space. The sufficiently high potential of the national science and education is able to ensure our country successful integration into the world transformations. It is the post-industrial economy, as an evolutionary development format, that can provide economic growth through the use of constantly renewed knowledges and the intellectual component of human labor. It has been proved that human capital is an important element of the infrastructure, which, under the conditions of rapid informatization of business, becomes a system-forming category of the development of the world economy. An important factor in its formation is professional development, based on scientific knowledge and the ability to self-improvement of labor resources. There is a phenomenon of substitution of labor with knowledge, that is, in conditions of attracting knowledge to practical processing of resources, the knowledges begin to act as a source of added value. The role of information capital is defined, and the information capital as a result of creative accumulation of new knowledge contributes to the improvement of means and methods of production, gradually improving in the process. The immaterial form of information resources ensures their unique mobility without losing relevance when used in various spheres of life. It is shown that organizational capital, when transforming knowledge into an active development resource, acts as a mechanism for coordinating the policy of strategic development with existing business processes and ensuring competitiveness in the innovation environment. While structurally integrating intellectual property, information systems, communication networks, the organizational component under the conditions of the new economy concentrates on the creative results of activities and is responsible for the processes of creating and disseminating scientific knowledge in business.

Keywords: intellectual capital, infrastructure support, information resources, scientific knowledge, organizational capital, post-industrial economy, resource potential.

Section 2. ECONOMICS AND NATIONAL ECONOMY MANAGEMENT

Homolska V.

MARKETING IN THE SYSTEM OF MANAGEMENT: NEW MEASURE

The article considers the approach to the development of a new type of models for multi-level management of social and economic development of territories and industries using the concept of modern marketing. Based on the analysis of theoretical and methodological aspects of regional and industrial marketing, the basis for their horizontal integration at different levels of the state economy management system is formed, taking into account the growing importance of territorial marketing in the context of increasing competition between the territories for investments. Territorial marketing means marketing used in the interests of the territory, in the interests of its internal and external entities, which can improve the social and economic indicators of the development of the territory. In accordance with this approach, the territory is the producer of all resources necessary for the investor, it is oriented to consumers of its goods and services, to forming, stimulating and supporting the demand for its own resources, to developing its potential. Analyzing the main trends in the development of marketing, it is proved that, simultaneously with the processes of marketing distribution on a territorial basis, favorable conditions are created for the distribution of marketing on an industrial basis either. The concept of "industrial marketing" determines the features of marketing concerning the specifics of a particular type of economic or social activity. Accordingly, it is proposed to expand the approach by distributing marketing to management levels within industries and activities, so that industrial marketing instruments at each level of the industry management system within the territory will be used for the development of the territory. Considering the coincidence of the goals of territorial and industrial marketing, a scheme of vertical distribution of marketing by management levels is proposed, which enables to increase the effectiveness of multi-level management system and the effectiveness of state social and economic policy.

Keywords: management, level of management, regional marketing, territorial marketing, branch marketing.

Kalnitska M.

THE POLICY OF SOCIAL DEVELOPMENT IN UKRAINE: STRATEGIC CHALLENGES AND SYSTEMATIC APPROACH TO THEIR SOLUTION

The article deals with the issues of increasing the efficiency of the state regulation of the social sphere, which are especially actualized in the conditions of global transformation of the national socio-economic system. It is revealed that the main purpose of functioning of the social development system is the effective use of the human capital of the state. The following areas of priority in the context of state regulation are identified: reorganization of the social security system, labor market reform, and improvement of the income policy of the population.The inconsistency of the state policy of ensuring social development is one of the main factors of its low efficiency. As a result, the human and intellectual-human potentials deteriorate, the structure of employment is deformed, the number of inefficient workplaces increases, and the disproportion in the labor market increases. Low motivation of the population with respect to entrepreneurial activity and self-employment leads to an increase in the dependence of citizens on social transfers and, accordingly, to decrease in the level of democratization of society, growth of social injustice and social tensions, and deterioration in the quality of life of the population.A systematic approach to the definition of the essence of social policy as a dominant component of socioeconomic growth is proposed, and it determines the degree of social security, orientation and use of the potential for economic development for the purpose of shaping and realizing human capital as an integral resource and prerequisite for the functioning of the national economy system. The system approach to the social development of the state is based on the vision of a socially oriented economy as a combination of the processes of formation of a competitive situation in the market, the orientation of production to consumption and social security of citizens. At the same time such characteristics as income level, housing policy, labor market, employment of the population, etc., are aimed at reflecting not so much on the provision of material wealth to the population, but rather the ability of citizens to carry out personal social investment.The state should create not only opportunities to fully meet the social needs of citizens, but also incentives to invest in the formation of human capital, which in the future will allow accumulating and effective using the intellectual and human resources of society and the economy. The creation of conditions for the optimal functioning of social relations in society is an objective prerequisite for a stable and balanced development of the state as a socio-economic system, contributes to the accumulation and effective implementation of the intellectual and human potential, the achievement of self-sufficiency in people's livelihoods, and consequently to the growth of labor productivity in the system of national economy, thus providing the interdependence of the development of the social sphere and the growth of the national economy.

Keywords: human capital, system approach, social policy, social security, social development, social and economic system.

Kolisnyk G., Dykha M.

EFFECTIVE COST CONTROL SYSTEM FORMATION AS A FACTOR OF ENTREPRENEURSHIP ECONOMIC SECURITY

For an effective cost control system formation as a factor of entrepreneurship economic security a number of prerequisites were defined: the system reference model is needed for a particular sector of the economy, the region, and the national economy; the system can operate as a separate element in the overall structure of the economic security of the industry, the region, the sector, the national economy; the system should include functional components, organizational structures, and resources, formed the basis of modern scientific achievements in the field of business security. It was proved that the national economic security components systematically influence the process of the cost control effective system ensuring. The costs control system as a factor of entrepreneurship economic security and its structural elements were proposed. It was proved that for an effective cost control system formation as a factor of entrepreneurship economic security, must be first determined the structural elements of the system.. For an effective cost control system formation as a factor of entrepreneurship economic security, preference should be given to a strategic approach. Understanding the strategic nature of an effective cost control system formation as a factor of entrepreneurship economic security encourages a real assessment of existing expectations and allows an adequate expectations response. A set of tools that provide entrepreneurship costs regulation, were grouped by the state and market entrepreneurship economic security. An effective cost control system formation should take place at different levels of the hierarchy economic regulation system. The directions of the state policy measures implementation of costs control as a factor of entrepreneurship economic security in Ukraine were proposed.

Keywords: entrepreneurship economic security, effective enterprise cost control system, structural elements of cost control, components of cost control systems, measures of state policy of cost control.

Kubiniy N., Pulyanovich O., Kosovilka T.

INSTITUTIONALIZATION OF INNOVATION STRATEGIES: HISTORICAL BACKGROUND

The article is devoted to the historical review of Alexander the Great's innovative strategies and their transformation into institutions. The historical perspective on the application of innovations in strategic management makes it possible to assert that the formation of the competitive advantages of Macedonia in the times of Alexander was significantly influenced by the traditions created by Alexander's father, who he persistently institutionalized. Among the innovative directions of the strategic management of the Macedonians, technical and technological innovations, political, organizational, managerial and economic, have been singled out. To such areas, which should be taken into account by modern strategic managers of all levels, include: Technological and technological innovations of Alexander the Great, ensuring the speed of achieving operational goals while saving resources, including human resources. Political innovations of Alexander, Which form a favorable external environment for the implementation of the tasks. Organizational and managerial innovations, which motivate the participants of actions. Among such innovations was the institute of mobility of decisions and unpredictability of actions, the institute of fetish and the institute of knowledge. Economic innovation, started by Alexander's father, found continuation in the adoption of nontraditional economic decisions on the use of the resources of the seized countries. Among the motivational institutional components of the Macedonian strategy, we distinguish the following: the Institute of rapid decisions and unforeseen actions in management. When Alexander tradition becomes creativity, innovation, unpredictability. Institute of fetishization. Fetish, as you know, is worshiping someone or anything. Fetish is used in modern management technologies quite widely, and fetishization began to manifest itself in ancient times. Alexander was well aware of the importance of forming his own image as a deity, the messengers of the sky. The Institute is known for its experience. In the campaign against the Persians, Alexander's retinue included historians, philosophers, botanists. One of the factors of Alexander the Great's strategic success is the integrated approach to applying innovations in management, when organizational innovations are supported by motivational ones, and political support for managerial innovations. Such an approach ensured the systemic impact of innovative institutions on the formation of the competitive advantages of the Macedonians. The totality of these directions forms the basis for innovative strategic which in turn is aimed at creating competitive advantages, management.

Keywords: innovation, innovative strategies, institute, competitive advantages, strategic management.

Novikova K.

ASSESSMENT OF THE COMPETITIVE ENVIRONMENT FORMATION OF MARITIME TRANSPORT ENTERPRISES

The article is devoted to the study of the peculiarities of the competitive environment formation of marine transport enterprises. The author states that the development of maritime transport within the global economy is determined by the overall dynamics of economic development and trends in international trade. The volume of sales, geographic and commodity patterns determine the lines of international transportation processes development in such aspects as generation of demand for certain types of vessels, their equipment and technical condition in accordance with certain types of cargoes, voyage rate and tonnage, transportation cost, etc. On the basis of correlation and regression analysis, it was determined that the dynamics of maritime traffic in 91.99% of cases is explained by the dynamics of the volume of world trade and in 85.41% of cases by the dynamics of world GDP volumes. Particular attention is paid to the study of the peculiarities of formation and structural changes in the geography and nomenclature of the main sea traffic. The author determined that in the pattern of shipping, bulk cargoes, oil and petroleum products account for 26% of total transport, 15% accounts for container shipping, 13% is iron ore freight, 12% is coal, 6% is gas and chemical products, 4% is grain and other bulk cargo accounts for 24%. The rates of container turnover is growing at an annual rate of 6.7%, 6.4% is gas, 5.7% is the main bulk cargo. The rates of the chemical products turnover is slower and increases by 3.7% annually, other bulk cargo by 2.7% and oil by 1.5%. With the use of modeling tool for analysis, the project models of maritime transport traffic flows dynamics have been designed. This allowed to provide a predictive assessment of their volumes. On the basis of complex analysis, key external environmental factors which determine the preconditions for the competitive advantages of marine transport enterprises formation have been identified. These groups of factors include trends in world production and trade; the efficiency of maritime policy; shipping technologies development, energetics development and environmental issues, other economic and financial factors (reducing the profitability of maritime transport, the surplus of the total deadweight of the fleet, etc.).

Keywords: maritime transport, transportation, competitive environment, competitiveness, competitive advantages, freight traffic, economic growth, world trade.

Pavlyk A.

ECOLOGICAL AND ECONOMIC CONSEQUENCES OF RENEWABLE ENERGY SOURCES USING

The paper presents generalized results of analyzing the international experience of renewable energy sources of implementation and consequences of it using. The data analysis of positive and negative effects from implementation the renewable technology showed different negative effects from its using. It is considered that renewable energy sources are environmentally-friendly and do not have negative effects for environmental. There are many different scholars who are analyzing this problem in the different countries of the world. Ukraine has low level of renewable energy using in general energy consumption, and though international experience in this field is valuable. There are many papers which are devoted to correlations analysis between economic and ecological results of implementation of renewable energy sources. This analysis is needed to correct the assessment of the environmental consequences of renewable energy sources implementation. Some types of renewable sources consume a lot of water during the life cycle of production. Life Cycle analysis may provide comprehensive concept to identify environmental consequences of renewable energy using. According to this method all environmental effects are evaluated from the moment of equipment production till utilization of production waste. In spite of advantages and disadvantages of this method, method is promising for further research. Author generalized ecological and economic consequences of RES implementation for different life stages of RES production taking into account the location of the energy source and other limitations.

Keyworlds: renewable energy sources, renewable energy, ecological and economic consequences, ecological and economic development.

Spasenko Yu., Ilyenko N.

OVERCOMING OF POVERTY - THE MAIN TASK OF SOCIAL POLICY IN UKRAINE

The characteristics of wages and social standards that affect the level of living of the population in order to overcome poverty in Ukraine are researched in the article. Low wages and unproductive employment are caused by significant amounts of shadow economy, insufficient level of labor market development, lack of opportunities for investment attraction and modernization of production, unbalanced social policy of the state, etc. Since the main financial resource for poverty reduction in countries with market economies is provided by human labor, the population needs to be expanded to participate in effective economic activities with decent wages. Prior to the outbreak of the military conflict in Ukraine, there were traditional forms of poverty: families with young children, especially those with many children, elderly people over 75, inhabitants of villages and small towns. In 2014 there were "new poor" – settlers from the Crimea and the Donbas. Some experts call this factor "sudden poverty". Migrants spend their own savings on rent and job search. Another problem is poverty in areas beyond Kyiv's control. Particularly affected are residents of small towns and villages, where humanitarian aid does not reach. In March 2016, the Government approved the Poverty Reduction Strategy, which defines the mechanisms for the prevention of poverty and the main tasks for resolving this problem for the period until 2020. Among the strategic areas of poverty reduction is the promotion of increased incomes of the population from employment and payments in the system of state social insurance. It is also envisaged to ensure the access of the population to social services regardless of the place of residence, and to minimize the risks of social exclusion of the rural population. Increased attention will be paid to the issue of preventing the emergence of hotbeds of chronic poverty and social exclusion among internally displaced persons. In particular, it is planned to reduce the level of poverty among workers from 18% to 11%. Important in solving this problem is the improvement of the legislative base on issues of labor remuneration and social standards, with a general reduction of the regulatory and legal framework to European standards.

Keywords: overcoming of poverty, living standards, wages, social and labor relations, legislation.

Tabanova A.

THEORETICAL FOUNDATIONS OF THE GENDER POLICY CONCEPT DEFINITION

The article is devoted to the essence and theoretical foundations of the"gender policy" concept analysis. As a result of a study, which was conducted on the basis of a theoretical interpretation of a number of scientific papers, the concept of "gender policy" has been defined and supplemented by the author of the article. The peculiarity of this concept lies in the interests and needs consideration of not only women but also men in all spheres of life. As an integral category of political analysis, "gender policy" has not yet been unambiguously defined. Different understanding of the concept is confirmed by different meanings which gives researchers. This situation makes it necessary to analyze the "gender policy of the state" concept. Most of the authors of the scientific literature, if necessary, recourse to gender resort to vague specifications. In Ukraine the gender studies are still a quite marginal segment of the science, due to the novelty of the problems in the post-Soviet science. Therefore, today there is a need for a comprehensive study of gender issues and terminology. Most researchers associate the term "gender policy" with state activities, the object of which is mainly women. This ultimately leads to discrimination only in relation to the fairer sex. An integrated approach to the definition of gender policy was considered during the writing of the article. The necessity of differentiation of such concepts as "women's state policy" and "gender policy of the state" was proved. The state gender policy should be aimed not at improving the situation of women, but on the actual achievement of gender equality, taking into account the interests and abilities of both sexes equally. Therefore, the author proposed the following definition of the "gender policy" concept: it is the consistent system of measures that take into account men and women interests and needs in all spheres of life, which are legislatively fixed and effectively secured in order to achieve gender equality.

Keywords: gender, gender equality, gender policy, state policy, discrimination of women and men.

Cherleniak I., Mashiko K.

INSTITUTIONAL AND ECONOMIC DYNAMICS OF NATIONAL BUSINESS

Despite the "openness" of society and the transparency of economic and political boundaries, that shapes and demands globalization, Ukraine had fallen into a transformational economic trap. How did Ukraine get into it? Undoubtedly, the share of blame for ineffective Ukrainian governments is significant. But the sources of this trap are much larger. Some role had been played by both domestic legislators and foreign "advisers". After all, the promoters of the post-communist transformation in Ukraine took into account, among other things, the recommendations of international financial organizations and leaders of partner countries in international business. To bring Ukraine into such a deep transformation trap could a resonant combination of failures of economic ideology, unsuccessful or harmful influences of actors of the environment and selfish short-sightedness of the actors of the internal environment. Therefore, the objectives of the work are: 1) genetic algorithmic analysis of sources of disfunction of the institutional basis of the business and economic system of Ukraine; 2) description of barriers to effective business and competition development; 3) analysis of the determinants of imbalances in the mechanisms of expanded capital reproduction in Ukraine. Formal institutes were investigated through the prism of normative legal acts of spheres of private property, privatization, competition, monopoly, freedom of entrepreneurship. To study the evolution of informal institutions statistical and analytical data of Ukrainian and international analytical and monitoring organizations on the state of the institutional environment of Ukraine were used. As a result, more than half of the institutional changes are found to have negative trends. About a third of the components of the institutional environment were affected by positive changes, and no changes were made in 15.4% of the components. In general the institutional component is Ukraine's weakest position, and the country relates to transitional governments and hybrid regimes with defective democracy, functional deficiencies in a market economy, and an average level of government efficiency. The totality of institutional reforms in Ukraine has shaped the socio-economic and political structure called "crony", "clan", and "oligarchic" capitalism. In general the barriers to economic growth are inefficient labor organization, especially in state-owned enterprises, and the inefficient use of human capital, and the lack of real capital restructuring, and the absence of a competition institution.

Keywords: formal institutes, informal institutes, innovations, competition, privatization, national economy.

Section 3. REGIONAL SOCIO-ECONOMIC STUDIES

Boshota N., Papp V.

TOURIST INFRASTRUCTURE AND ITS ROLE IN THE DEVELOPMENT OF TOURISM IN THE REGION

In the national economy of the country, under present conditions, basic assets of the basic infrastructure with a high level of physical and moral depreciation are available. This situation is also typical for tourism infrastructure facilities, the state of which does not meet current international quality standards. The purpose of the paper is to study the theoretical and methodological principles of management of the development of tourism infrastructure and to formulate methodological aspects regarding the creation of a regional system of strategic development of tourist infrastructure as one of the elements of the regional infrastructure system. It should be noted that the infrastructure of the tourism sector stimulates the activation of tourism activity, the effective use of tourism resources and, as a consequence, the formation of tourist destinations in the region. Tourism infrastructure not only contributes to the development of the tourism industry, but also improves the living standards of the local population by creating new jobs in the field of tourism. The formation and development of tourism infrastructure is the basis for the functioning of the tourist services market. This can be explained by the fact that the developed infrastructure of the region is attractive and desirable for the placement of new tourist objects, buildings, therefore, as a rule, there are objects of the main infrastructure in this territory. Analyzing various types and approaches to the classification of elements included in the tourist infrastructure, its model as the main and additional infrastructure of a separate territory, in a particular case - the destinations is considered. The main infrastructure of the tourist destination is: transport; infrastructure facilities; accommodation facilities; food company; telecommunication connections; communal systems. The analysis of the problematic aspects in the development of tourism infrastructure shows their close relationship with the socio-economic problems of the region. Taking into account this fact, it is necessary to approach the development of tourist infrastructure systematically and carefully taking into account the specific aspects of the socio-economic development of a separate region, which will serve as a direction for further research.

Keywords: infrastructure, tourism, region, system, development, management, strategy.

Hapak N., Boyko Y.

ECONOMIC CAPACITY OF COMMUNITIES: CLUSTERING BASED ON BUSINESS ACTIVITY

For the formation of an economically capable community its business climate and business activity are important, because from this also financial resources of the community will depend on (tax and nontax revenues, revenues from capital operations, business and property revenues, investments, grants, salary, etc.). The levels of business activity of Transcarpathian communities using the clustering method based on 19 selected indicators are analyzing in the article. Herewith 5 such clusters are allocated (from the highest level of business activity - the 1st cluster, to the lowest level of business activity - the 5th cluster). The characteristics and distinctive features of settlements and local councils of each of the formed clusters are determined. The analysis showed that only in 4 communities (7,9% of the total quantity) - Uzhgorod community, Mukachevo community, Berehovo community and Khust community - business activity is within the range of 1-3 clusters, that is, it has a high or average level. And 47 communities (92,1%) belong to the 4-5th clusters - groups with the lowest level of business activity. Thus, a high level of business activity is inherent in the two communities, which are formed around the largest cities of the region. Average business activity is characterized the other two communities with centers in the cities of regional submission. Communities with business activity below average are those that are formed around cities of district centers, and also those which are bordered with the same and/or stronger for the business activity communities. Communities which were formed not around cities of regional subordination and mountain communities belong to communities with the lowest business activity (cluster 5). Therefore, in the current situation, it is expedient a differentiated approach in the development of policy tools for community economic development, depending on which cluster they belong to.

Keywords: decentralization, united territorial community, business activity, cluster, economic capacity.

Hvizdová E.

REGIONAL DEVELOPMENT THROUGH CRAFTS TOWARDS THE CREATIVE INDUSTRIES

Nowadays more and more the impact of globalization on culture and the economy can be seen. Some of the negative traits are reflected in the backwardness of certain regions in Slovakia. The paper shows the options to solve unemployment by promoting traditional handicrafts and creative activity of residents, reflecting the traditions of the region. Creative potential of human capital can be utilized via upgrading of traditional folk crafts towards the creation of new advanced products with traditional elements. Expert interviews with professionals provide guidance to address the issue and also the existing situation.

Keywords: region, creative industries, craft. tourism.

Zvarych O.

ECONOMIC ASPECTS OF NEW REGIONAL DEVELOPMENT PARADIGM FORMATION

Modern regional development theories in the context of the region interpretation as a place of export specialization and growing incomes were analyzed in the article. Different regions tend to specialize in the development of those sectors in which it is possible to use a comparative advantage, at the same time, regional economic activity and development depend primarily on the region size and success on the international markets, aimed at exporting. As part of the economic base, the regional comparative growth depends on the economic base growth (the regional economy export sector). Regional development occurs through the economic base development connected with the multiplier effect caused by it in the form of interconnected sectors, suppliers, intermediaries development. At the same time, the development may attract investors who competitive goods producefor export. In the theory of endogenous regional development growth depends on investing in the production factors development and on the learning process for the more effective use of these factors. Taking into account these dependencies, the phenomenon of leveling development between regions with different levels of development will not always take place. The territory with the wrong economic policy, where investment in human capital is not appreciated, is developing more slowly. Analysis of the possibility of state influence on the course of growth processes, including production level, long-term level of growth, as well as on the level of budget deficit, inflation rate, science expenditures, taxes, stable law and the intensity of foreign investment inflow is of particular importance. The most important proposal, which follows from endogenous models, suggests that the motivation should be the quality of investments and not their quantity. It is necessary to choose strategically important sectors of the economy that are most in need of investment. It is established that development theories that treat the region as a source of growing incomes, in particular, the theory of growth poles, the new economic geography and agglomeration economies, are focused on the spatial concentration of development. The poles of growth are the most developed industries and sectors, which are the engine of the region's economic development and which strongly affect other market actors.

Keywords: development, paradigm, region, regional development, factors of regional development.

Svyatohor V.

EVALUATION AND MECHANISM OF STIMULATION OF INNOVATIVE DEVELOPMENT OF THE TRANSCARPATHIAN REGION

The article analyzes the innovative development of the Transcarpathian region. Dynamics and structure of financing of scientific and scientific and technical activity of the region are considered and evaluated. It was found out that in the Transcarpathian region the number of enterprises and organizations engaged in the implementation of scientific and scientific and technical works for the period 2005-2015, decreased more than twice. The total amount of financing of internal costs for performing scientific and scientific and technical works by the own forces of scientific organizations increased by more than 2.5 times in 2015 compared with 2005.The analysis of the basic indicators of innovative activity of the industry of the region is carried out. During the analyzed period the number of enterprises that are engaged in innovation decreased by almost 2 times. The volume of realized innovative products amounted to 583.2 million UAH, of which 72.8% was sold outside Ukraine and this trend is traced throughout most of the study period. The author of the research named and characterized the elements of the innovative infrastructure of the Transcarpathian region: Scientific Park "Uzhgorod National University", Solomonovo Industrial Park, Department of Patent and Licensing Support and Commercialization of the Scientific Research Department of the DVNZ UzhNU, Center for Innovation and Development of the DVNZ UzhNU, National Contact Point Program of the European Union HORIZON 2020 in priority areas "Food security, sustainable agriculture, marine research and bioeconomics" and "Health, Demographic changes and well-being "on the basis of DVNZ" UzhNU ". In addition, the author proposed the priority measures of the Transcarpathian regional state administration to stimulate the innovative component of the region.

Keywords: innovations, scientific and technical activity, industry, innovation activity, infrastructure.

Torbiak B.

THE MECHANISMS OF EXOGENOUS AND ENDOGENOUS FACTORS INFLUENCE ON THE REGIONAL PHARMACEUTICAL MARKET DEVELOPMENT

The article analyzes the key factors of regional pharmaceutical markets management due to Ukraine's accession to the European Union. This, in turn, can both mitigate the entry and exit conditions on the pharmaceutical market and create barriers related to the introduction of drugs in the EU markets. The application of M. Porter's model for the determination of exogenous and endogenous factors of development of regional pharmaceutical markets is considered. Based on this model, we can conclude that there is competition within the sector in the pharmaceutical industry. In this area there are many significant changes caused by many factors, in particular: the emergence of new competitors in the industry of analogue medicines, new competitors in biotechnology, rapid changes in the relations between pharmaceutical firms as a result of mergers, takeovers as a result of integration processes. Globalization processes, as well as the integration of buyers (such as: wholesale, pharmacy) leads to a strengthening of their position in the pharmaceutical markets. It is also worth to underline the importance of public control over the activities of producers, which in turn is due to the presence of a significant amount of information on the Internet. The elements of the market regulation mechanism and the concept of affiliate marketing are explored, since contacts between units operating in the market are largely based on personal relationships, the debugging of which, however, requires time. Soon, trust is born between people, and not between firms, and workers become the most valuable resource of the firm. The reorientation of marketing strategies in the pharmaceutical market is conditioned by expectations of patients who force manufacturers to adapt drugs to their needs (for example, ease of use, method of administration, rate of action, automatic release of the active substance). They are also interested in facilitating the purchase of drugs, and therefore willingly use other channels than pharmacies, and purchases over the Internet. The questions of interests optimization of various subjects functioning on the pharmaceutical market and ways of influencing the perfection of management model of regional pharmaceutical markets are revealed.

Keywords: regional pharmaceutical markets, management, marketing strategies.

Churikanova O.,Zahorulko K.

THE INTERCONNECTION OF SUSTAINABLE DEVELOPMENT OF THE UKRAINIAN REGIONS PARAMETERS ESTIMATION

The correlation analysis of sustainable development parameters of regions was given. The economic, social and ecological systems were formed. The output parameters were selected based on the threats proposed in the study of the World Data Center for Geoinformatics and Sustainable Development, "Analysis of Sustainable Development: Global and Regional Contexts". The above-mentioned organization put together the efforts of leading specialists in various fields to collect and analyze data on sustainable development. Nowadays the main problem of modeling on regional level is the quality of the data and the complexity associated with their collection and processing for further analysis. The main task of the World Data Center is visualization of sustainable development in the context of the entire country and regions in particular. The modeling of these indicators was carried out using the weights given by the expert assessment. To build an adequate model, it is necessary to consider multitude of parameters, which considerably complicates the work of experts. Automatic, based on mathematical modeling, the system is necessary as a supportive working tool for the experts during the analysis of the regional sustainable development of Ukraine.The threats were chosen to form output parameters, the additional output parameter in the economic sphere was selected "Gross regional product". As a result of the analysis, the output parameters "Pollution of the environment" and "Technogenic danger" were removed for future system development.The input parameters were determined based on the correlation analysis of statistical data. The economic and social spheres have a sufficient number of parameters for constructing the model considering all output parameters and more than half of the initially selected input. The ecological sphere is described by two output parameters and less than half of the initially selected input that caused the insignificance of the linear connection between other output and input parameters. The authors identified some of the basic problems related to the evaluation of sustainable development in the regions and outlined the prospects for further research in the area.

Keywords: sustainability, sustainable development, parameters of sustainable development, correlation analysis, the State Statistics Service.

Section 4. ENTERPRISES AND INDUSTRIES ECONOMY

Bezus R., Leshchenko O.

INVESTMENT STRATEGY OF AGRICULTURAL PRODUCERS OF ORGANIC PRODUCTS IN THE CONVENTIONAL AND POST-CONVERSIONAL PERIODS

The conditions of the Ukrainian economy are changing dynamically and compel agricultural producers to pay attention to such instruments as investments in their own production. Ukrainian agricultural producers that use alternative production systems, such as energy-efficient technologies or organic production standards, are interested in the investment process more than others. At the beginning of the conversion and after it, the level of investment attractiveness of the organic enterprise varies, so the investment strategies before and after this period must be different. Based on the definition of A. Cherep, the following definition of the investment strategy for the agrarian enterprises of organic production was formulated: "The investment strategy of the agricultural enterprises of organic production is a system of long-term objectives of the investment activity of such an enterprise and a corresponding set of effective ways of achieving them in compliance with the principles of environmental friendliness and sustainable development". Agrarian enterprises that are in the conversion and postconversion periods have different guidelines for the formation of their own investment strategies, their main differences are formed in the table in the article. The restraining factors of investment activity of Ukrainian organic agrarian production were mentioned, in particular: a long waiting threshold, since there is a certain period of time before the main trends in the implementation of the investment project are formed, the time costs are explained by the certification period – for the production of closed soil (from 1 year) and the conversion period – for open-soiled production (from 3 years); insufficiently developed infrastructure of organic business: producers of organic agricultural products often lack the capacity to lease capacities for storage and processing of organic products; lack of narrow-profile specialists for the production of organic materials in the conditions of the national economy; a small assortment of organic products. Agricultural producers of such type of production are invited to take into account recommendations on the formation of investment strategies in the conversion and post-conversion periods for their enterprises to form an optimal investment-attractive policy.

Keywords: investment strategy, organic production, conversion period, agrarian producers.

Bortnikova M.

FEATURES OF THE FORMATION OF A COMPREHENSIVE CONSULTING PROJECT FOR MACHINE-BUILDING ENTERPRISE

The graphic model of the formation of applied toolkit of diagnostics consulting projects for machine-building enterprises has been developed. A specification of a comprehensive consulting project is proposed. A toolkit of decomposing the enterprise management system is outlined to identify areas of concern that can be the subject of consulting. Control system elements are presented. The criteria for the involvement of consultants and criteria for the successful implementation of the consulting project are presented. A payment mechanism for consulting services provided within the framework of a comprehensive project has been formed.

Keywords: model, mechanism, toolkit, diagnostics of consulting projects, identification, specification, decomposition.

Brych V., Borysiak O.

INNOVATION TECHNOLOGIES OF PERSONNEL FORMATION OF ENTERPRISES IN CONDITIONS OF OPTIMIZATION DEVELOPMENT

The approval of the global nature of social processes in recent decades involves a mobile reorientation of principles of competitive positioning of enterprises in the business environment. Implementation of innovations in business processes is based on the principles of optimization development. According to this approaches to the role of a person in the enterprise are transformed, which, in turn, indicate the necessity of applying to innovative technologies of personnel formation. In the article the optimization factors of existence of modern enterprises in general and the personnel management system in particular are determined. There are dynamic development of information technology, enter and approval of positions in the labor market of new generations of personnel “digit” or Z, “millennials” or Y, optimization of flexibility in the organizational structure of management. Optimization development is considered as a dynamic update and flexibilization of corporate knowledge, dynamic abilities in the most mutually beneficial way for business and society. The classification of technologies of personnel management is conducted. In conditions of optimization development it is proposed to interpret the personnel formation as a holistic function in the personnel management system. Its essence is oriented on formation of an innovation team. The tendency of using virtual technologies is highlighted, which testifies the establishment of conceptual principles of sharing economy. With the implementation of virtual technologies, attention was drawn to such phenomena as antisocialization, professional burnout, disbalance between work and life (leisure) of employees, adaptation of participants in military operations to a usual life. The innovative technologies of personnel formation are analyzed and stratified on such executions: planning and analysis; organization; motivation.

Keywords: innovation technologies, personnel management system, personnel formation, labor market, optimization development, sharing economy, virtual technologies.

Dobrova N., Osipova M., Smentyna N.

THE EFFICIENCY OF MUNICIPAL ELECTRIC TRANSPORT ENTERPRISES FUNCTIONING IN THE CONTEXT OF TECHNICAL BASIS UPDATES AND MODERNIZATIONS

The possibilities of increasing the efficiency of municipal electric transport enterprises’ economic activity by determining the size of the economic effect from updating their fixed assets were evaluated in the article. The factors which cause poor quality of municipal electric transport enterprises’ services were indicated. The major ones are unsatisfactory technical condition of electric transport enterprises’ rolling stock, its age structure and other parameters which significantly degrade quality of passenger transport services, raise level of accidents and significantly increase volume of municipal electric transport enterprises’ costs. The main vectors of regeneration of urban electric transport enterprises’ technical capacity were presented. The article spotlighted actual issues of municipal electric transport enterprises’ technical basis innovative renewal and modernization. These will increase the attractiveness of municipal electric transport, improve the quality of passenger traffic, allow to transport passengers with disabilities, provide a city with comfortable and affordable transport, and also improve a number of economic activity indicators (for example, increase the volume of passenger traffic, reduce maintenance costs, electricity costs, etc.). The advantages of municipal electric transport enterprises’ rolling stock innovative renewal on the example of one of the leading electric transport enterprises in the south of the country were determined. The factors influencing the size of economic effect from renewal and modernization of enterprise’s rolling stock were analyzed. Sources of financing for the proposed measures to modernize and renew the technical base of municipal electric transport enterprises were considered. At the same time it was noted that improving the effectiveness of municipal electric transport enterprises’ functioningshould be considered comprehensively, as a combination of technical and economic decisions. Besides, along with innovative development it is necessary to consider factors of tariff policy improvement, payment mechanisms for passenger traffic, subsidies from the local budget, revision of privileged categories of population, and all these issues need to be studied additionally.

Keywords: electric transport, rolling stock, technical potential, modernization, efficiency.

Dovhun O. Stasyuk К.

LOGISTICS AUTOMATION: NOWADAYS DECISIONS AND PERSPECTIVES

The research paper explores the expediency of automation of logistics processes. Nowadays, there are a large number of domestic and foreign information systems, which help of those it’s possible to automate various business processes, including logistics. However, the economic situation in the country makes the use of foreign instruments too expensive for Ukrainian companies, which would actualized the search of logistics automation capabilities offered by domestic IT companies. The key features offered by some companies and systems (SystemGroup Ukraine, Right Way, Mortgage Logistics, Edisoft, E-Doc, Rational Logistics, logist.ua) are outlined in the article. Among the main reasons of the continued spreading of automated systems and solutions is greater reliability, control, transparency of the performed work, etc. Logistics processes are not exception. For example, there are several advantages that automation of transportation offers: eliminating manual data processing errors; data availability for analysis and decision making; 100% audit of all expenses; possibility to track the status of the order in real time; tracking the status of the routes and their operational change in case of unpredictable situations, etc. The enterprises should understand that automation would reduce costs, increase access to information, increase service points, efficient tracking of orders and state of routes. At the same time business executives should keep in mind that expanding and connecting new partners may require a significant amount of workforce to support the new standard. However, within a single logistics industry, when the set of supporting documentation is relatively stable, this should not cause great difficulty. The prerequisites for automating logistics processes can be: understanding the importance of automation management, personnel training and active use of systems by a large number of logistics companies. Therefore, the larger the number of enterprises integrate these systems, the more resources their developers will receive for the improvement and development of systems.

Keywords: automation of logistic processes, automation of transportations, information systems, electronic document flow, EDS.

Ivchenko Y.

THE CAUSAL NATURE OF TRANSFORMATIONS IN THE ECONOMIC SECURITY SYSTEM OF THE ENTERPRISE

The article considers that transformations in the economic security system of an enterprise can proceed and be determined by scale, intensity and speed, but an important objective is to define the causal nature of such transformations. The nature of transformations in the economic security system of the enterprise is studied. It gives a detailed analyses of the causal nature of transformations in the economic security system of the enterprise which is based on the causes of changes (in general sense), the nature of economic security as a social and economic phenomenon, as well as the patterns of functioning and development of systems of different nature. The components of the causal nature of transformations in the system of economic security of the enterprise are highlighted. The components’ impact of the causal nature of transformations in the system of economic security of the enterprise are proposed to be considered on the basis of behaviorism. The research shows that transformation has the character of the reaction of the enterprise system as a whole and the system of economic security to a certain stimulus caused by causal nature of transformations.

Keywords: economic security, system of economic security, transformation, causal, behaviorism, contradiction, adaptation.

Lozovska H.

THE CURRENT STATE, THE PROBLEMS AND THE PROSPECTS FOR THE DEVELOPMENT OF THE MARKETING SERVICES OF UKRAINE

For today the development of the global and national market in particular is when the consumer is the main one in relation wiyh the enterprise, studying its needs and the ability to satisfy them - is the basis for running a successful business. That is why using of various marketing services is not only relevant but also an indispensable moment in the conditions of fierce competition between producers of products and services. In the meaning of «separate service» marketing services mean any promotion of product or service that is provided by a marketing company on an outsourcing basis. Not often under the marketing service a set of marketing tasks, that can be transferred to the constant service of a specialized marketing company are meant. The article indicates the classification of marketing services and also analyzes the dynamics of the market development over the past few years. The situation in the market of marketing services depends on the economic and political situation in the country. Having made market researches of marketing servises in Ukraine, it is possible to draw a conclusion that after a significant fall lin 2014 for today the branch has managed to adapt to new realities and there is a positive dynamics. In addition, according to the estimates of different specialists Ukrainian market of marketing servises is characterized by a number of problems that sometimes prevent customers from receiving quality services. The article indentifies the main groups of problems as well as possible ways to solve them.

Keywords: marketing, marketing service, service, market, problems of activity, directions of development.

Mazur V.

FORMING OF INTERNATIONAL PRODUCT STEWARDSHIP

The use of modern marketing instruments based on the concept of international marketing policy and positive experience of the leading companies optimizing product leadership according to the market activity plays the main role in the process of globalization of national companies. According to the chosen strategies of the activity, strategies of trade policy, which are important for the goods at the foreign market, are chosen. The specifics of international markets influencing the development of the marketing that should be taken into consideration during the world products exchange has been investigated in the article. It was defined that international product strategy plays the main role in the development of international marketing. It is the forwarding point for the building of the right and effective international business strategy. The author provided the following definitions: international product strategy, marketing trade policy, international product stewardship, goods, product stewardship and line of merchandise. National company “Coaching is school, Live Business” was taken for the example of investigation its activity in the sphere of international marketing. This company has been functioning at the market providing consulting and training services since 2005. More than 500 coaches and leaders that use this new technology studied at this school. The school program was accredited and it meets the requirements of international standards ECF and ICF. We can make the next conclusions that the investigated company took the strategy of differentiated marketing therefore, its services are various and meet different requirements of separate market niches.To evaluate the chosen product strategies at foreign markets the author made SWOT analysis, which built the matrix of opportunities – threats of foreign market. The strong and weak points of the company “Coaching school, Live Business” have been defined in the article. The recommendations and optimizations to define the main groups of training programs have been suggested for the company in the article. The author has defined the main competitive advantages of the company.

Keywords: product stewardship, international policy, international relations, international markets, international marketing, trade policy, line of merchandize, product portfolio, service.

Prunenko D.

DEVELOPMENT OF A METHODOLOGICAL APPROACH TO ASSESSING THE FORMATION AND USE OF THE INTELLECTUAL CAPITAL OF CONSTRUCTION COMPANIES

The aim of the article is to develop a methodological approach to the assessment of the formation and use of the intellectual capital of construction enterprises. To achieve this goal the following tasks are being solved: to propose stages in the development of a methodological approach to assessing the formation and use of the intellectual capital of construction enterprises; to develop local and integral models for estimating the integral indicator for the formation and use of the intellectual capital of construction enterprises. A multi-level system of indicators is used to assess the formation and use of the intellectual capital of construction enterprises by defining hierarchical levels that are characterized by the relevant criteria.It is determined that in the developed local models the values of the second-level indicators and the rank coefficients are determined by applying the method of expert estimates based on the questionnaire. The integral criterion for the formation and use of the intellectual capital of construction enterprises is defined.To assess the weight coefficients that characterize the values of indicators of the integral criterion, the hierarchy analysis method is used, the essence of which is to determine the mutual influence of local indicators, taking into account their significance in accordance with the directions of formation and use of intellectual capital for the studied construction enterprises. As a result of the research, a methodological approach was developed to assess the formation and use of the intellectual capital of construction companies, based on expert assessment methods, econometric modeling, hierarchy analysis, the detection of anomalous points, and implemented on the basis of interrelated stages, which allowed defining an integral criterion and create an informational ground for efficiency growth in making management decisions. Promising directions for further research are proposed: implementation of a methodological approach to the assessment of the formation and use of intellectual capital in construction enterprises; formation of the concept of management of intellectual capital in construction enterprises; the development of mechanisms for managing intellectual capital at construction enterprises; the formation of measures to increase the effectiveness of the formation and use of intellectual capital in construction enterprises.

Keywords: construction companies, intellectual capital, evaluation of intellectual capital, methods, models, an integral criterion for the formation and use of intellectual capital.

Saher L.

MODELING AND OPTIMIZATION OF INTERNAL COMMUNICATION MANAGEMENT PROCESS: METHODOLOGICAL APPROACH

In the context of the sectoral markets transformation it is important to obtain additional economic and social benefits from the enterprise without attracting significant financial resources by creating an additional competitive advantage for the enterprise. This, in turn, is achieved by optimizing the construction of business processes and establishing the most efficient information flows traffic. The article suggests an econometric model which determines the optimal performance`s ratio of implementation of the proposed measures and the costs of their development in the process of alternative development options analysis. The proposed approach to constructing an optimization model aimed at improving the economic efficiency of internal communications management of an industrial enterprise substantially deepens theoretical and methodological bases by internal communications at enterprises. The company's positioning matrix, developed in accordance with the indicators of a comprehensive assessment of the social-organizational and technical and information components of internal communications, allows to diagnose the state of internal communications in order to choose the best strategies for their development. Visual presentation of the diagnostics results and their high accuracy of the various aspects of the internal communications state give grounds for the formation of an effective internal communications management system at industrial enterprises. The developed block-scheme of management algorithm of the enterprise`s internal communications reflects the transition between the matrix quadrants in the direction of improving the internal communications state.

Keywords: internal communication, strategy, matrix, economicmathematical model, algorithm, control.

Suhonyak S.

ENTERPRISE RESOURCES COST OPTIMIZATION BY ENGAGING OUTSOURCING COMPANIES

The study showe the dominance of one reason for using outsourcing, namely the costs resource optimization in the production and economic activities. The optimization expediency is due to the use of a cost leadership strategy, focusing on low or optimal costs. Construction of a chain with low transaction and transaction costs is a prerequisite for the successful implementation of such strategies. In the modern world the economy can be formed exclusively on the basis of the outsourcing development. Outsourcing in such chains and strategies gives advantages not only to the manufacturer, supplier or intermediary but above all to the end-user of the product. The end user has the opportunity to get a cheaper product or with better quality, with additional services, etc., that is, with the highest consumer value. The use of optimization models with various cost reduction functions is offered in the article. Most often optimization is carried out with the of transferring certain functions purpose or business processes to outsourcing, primarily to reduce the necessary staff obtaining costs. An optimization model for reducing costs for one type of resource for different units or business processes has been developed in the article. Optimization models have been developed for the minimization of necessary resources losses and costs for the efficient operation of both: the customer and the provider, as well as to ensure the effectiveness of the process of transferring business processes from the customer to the service provider. First of all the author proposes to optimize the use of labor resources as the main ones in the activity of a modern enterprise. This also allows to optimize the efficient use of available resources and to create conditions for the development of leaders and staff in general. In addition to customer's outsourcing activities optimization, the process of transferring functions from the customer to the provider should also be optimized, and optimization should take place according to the main types of resources, first of all, human, temporary, material and financial.

Keywords: resource optimization, outsourcing, provider, machinebuilding enterprise.

Section 5. FINANCE AND BANKING

Baranovskyi О.

FACTORS, SCENARIO AND METHODOLOGY OF RESEARCH OF TRANSFORMATIONAL PROCESSES IN FINANCIAL SECTOR OF NATIONAL ECONOMY

Importance of taking into account the factors, which effect transformational process in financial sector of the national economy, development of the effective scenario and the methodology of the research of existing and potential transformations are reviewed. Approaches of scientists to the differentiation of transformation determinant in the national economy as a whole and the financial sector and its segments and institutes are analyzed. Author’s view on differences of such factors and list of the important factors which effect transformation of the financial sector of the national economy as a whole and financial sector and its segments and institutes. Approaches to development of the scenario of transformational processes in the financial sector of the national economy are reviewed. Differences in evolution, reformation (modernization), mobility, and revolution transformation are presented. It is stressed on existence of historic, country-based, state-corporate and liberal-corporate models, model of state market regulation, shocking therapy, gradualism, institutionalism and integrity model of transformation. Attention is pointed to the necessity and the results of compliance to principles of defining the scale scheme of reforms of financial sector. Importance of maturity of the systems of internal and external financial control and monitoring on activities on increase of the effectiveness of financial institutions during distribution of financial resources is defined. Author's view on the regulation of transformational processes in the financial sector of the national economy is presented. Difficulty and significant expenses on transformation of the financial sector and as a result the necessity of analysis of risks that can result in correction of the strategy of transformation or change of its model are pointed out. It is proved that the transformational processes in the financial sector of the national economy require from the economic science the usage of evolution approach, development and continuous correction of methodology of research. The components of the methodology of research of the transformation of the financial sector of the national economy are defined. It is founded that upon revealing of the consistent patterns in the transformation of the financial sector the attention should be paid to the functioning patterns (keeping of the reached level, structure and integrity) as well as the development patterns (changes of functioning effectiveness and results of change) and their comparison.

Keywords: transformation, transformation processes, financial sector of national economy, factors of transformational processes, scenario of transformational processes, methodology of research of transformational processes.

Blahun І.

ANOMALIES IN FINANCIAL MARKETS AS A FACTOR OF THE INVESTORS IRRATIONAL BEHAVIOR

The conceptual principles and peculiarities of the functioning of financial markets from the standpoint of non-rational behavior of investors, which are caused by the occurrence of various anomalies, are explored. The basic anomalies of financial markets related to the beginning and the end of the cycle of activity, that is, with the cycles of investment activity that correspond to calendar periods (weekly cycle, monthly and annual), are determined. It should be noted to the existence of a relationship between the behavior of investors and external factors. The presence of irrational investors violates the financial market (in terms of increasing the amplitude of the exchange rate) in proportion to the number of their performances. The results of the market research point to the imperfection of the theory of effective financial markets. In addition to irrational actions, speculative actions, mimetic rational and irrational behavior, various phobias and fashion, as well as other abnormalities, in practice it turns out that information is not always properly distributed and the price of transaction services is not always low enough. In case of anomalies, the market becomes ineffective, creating conditions for the formation of such investment strategies that can allow for a short period get profit without risk, which contradicts the theory of an efficient market. Historically, the most important anomalies are associated with the beginning and end of the cycle of activity, that is, with the cycles of investment activity that correspond to calendar periods, and, therefore, the weekly cycle, monthly and yearly. They also include anomalies related to the cycle of the session itself, that is, anomalies during the session. During the session, there is also an increase in profit levels at the beginning and at the end of the session, and before the lunch break, after - there is a decrease. There are also effects of holidays and anomalies related to the size of the enterprise. Thus, the main anomalies of the financial markets and, accordingly, the irrational behavior of their participants should be considered in the measurement: the effect of the end of the week; the end of the month effect; effect of the end of the year; the size of the company.

Keywords: іnvestors, financial market, anomalies, irrational behavior.

Vartsaba V., Mostipaka O.

CONSTRUCTING OF SYNERGETIC EFFECTS IN THE NATIONAL ECONOMY OF UKRAINE

Synergistic effects in the social and economic system of Ukraine are the subject of the work. The purpose of the research is to substantiate the conditions for the achievement of synergetic effects in the social and economic system of Ukraine; describe the potential synergistic effects that will be created in the real economy due to a change in the relationship with national monetary and financial instruments that potentially affect the achievement of synergistic effects in both the reproduction factors of national production and the intelligence that manages the combination of these factors. Using the trans-scientific information-synergy-institutional approach to achieve synergistic effects on strategic directions of development will help to use effectively all available resources in the social and economic system of Ukraine. In the conditions of the entropy market, monetary and financial relationships are not able to provide positive synergy effects in the national real social resource-saving economy. This is a complex of national monetary and financial relations, aimed at achieving a positive synergistic effect with taking into account the parameters of the production, social and ecological order in the spatial and temporal coordinates of Ukraine's development. Such approach allows us to get the potential of the development of the social and economic system as a whole and return the subjectivity to Ukraine in the global social and economic space. Synergetic effects are formed in the following conditions: new element (s), subsystem (s) (synergy of expansion) appears in the system; and / or the relationships between subsystems, elements that already exist in the system (synergy of connectivity) are changing. Since the social and economic system is not atypical, it can be argued that elements, subsystems possess the necessary connectivity and integrity. In our case, the following subsystems are considered: the subsystem of the real economy (production, distribution, exchange, consumption); financial and monetary subsystem (in particular the mechanism of emission of money, algorithms of functioning of money, change of credit essence of money); informational and technological subsystem (development of technologies); management subsystem – natural intelligence and informational technologies, blockchain platform (the greatest potential of synergy lies in the management subsystem); the social subsystem (a person is an individual's intelligence) and a social intelligence). As a result of changing the relationship between the specified subsystems you can get synergistic effects: intelligent; spiritual, social and economic; innovative; technical and technological; state-building ecological; security; political, etc. The results of the work can be used in the reform of the social and economic system of Ukraine and the implementation of effective synergetic management of the social and economic system of Ukraine in global development coordinates.

Keywords: Synergy effect, emergence, additive, synergy, dyssynergy, modeling and constructing synergistic effects.

Galynska Yu.

FORMATION OF TERRITORIAL COMMUNITIES BUDGETS DUE TO THE DISTRIBUTION OF NATURAL RESOURCE RENTS OF FUEL PRODUCING COMPANIES

A scientific-methodical approach to the financial resources accumulation in fuel industry rent incomes redistribution was proposed in the article. This approach provides the regional fund formation for the rental income redistribution. At the same time, the "Rental Income Redistribution Fund" should be structurally divided into "Reproduction Fund", "Compensation Fund" and "Hedging Future Generations Fund". Rent income from natural resources of national importance (oil, gas, coal, ore) is the source of financing. According to the given three funds rental income redistribution mechanism, part of the rental income must come in regional "Rent Income Redistribution Fund". According to this method, the rental income is distributed among three participants in the collaborative alliances (state-region-mining enterprise). The introduction of the optimal rental income distribution method will ensure the receipt of funds in the "Rental Income Redistribution Fund" at the regional level. The main goal of creating the fund is the Ukrainian economy balanced development, which will provide the progressive social development at the regional level in order to achieve the state strategic goals. Thus, the creation of a "Fund for the redistribution of rental income" at the regional level will facilitate the flow of financial resources to the regions to restore the territories where natural resourcesare extracted and compensation after the completion of work. The functioning of the "Hedging Fund" will help to accumulate funds for future generations in case of a crisis in the economy. The definition of parts of rental income that should be shared between the three funds of regional importance and the principles by which these revenues need to be divided is the unresolved issue of the study.

Keywords: redistribution of rental incomes, fund of accumulation of funds for future generations, collaboration alliances in nature management, rent income from natural resources extraction.

Zaslavska O., Ohorodnyk V.

FINANCIAL DECENTRALIZATION IN UKRAINE: STATE, PROBLEMS AND PROSPECTS OF DEVELOPMENT

The article presents the results of the study of the local selfgovernment system and budgetary decentralization reforming process in Ukraine. The results of analysis and assessment of local budgets realization in terms of reforms are presented in the article. The basic directions of improvement mechanism of maintenance of financial solvency of local communities are defined in the study. The necessity of public administration quality improvement in different spheres of the economy and the effective local self-government formation on the basis of decentralization is justified. Effective regional socio-economic development is objectively limited by local budgets incomes In this context the budgetary decentralization process has particular importance for creating economic incentives for joint territorial communities development, expanding their own tax base and purposeful use of financial resources. The paper presents the results of the first stage of local self-government system reforming in Ukraine, with a focus onbudget and tax reforms. The given data testify positive dynamics of local budgets incomes growth during the reform period. At the same time, attention is focused on the problem of the accumulated fund's inefficient use by local authorities. Particular attention is paid to issues of state support for the creation and development of local communities, their social infrastructure in the form of subventions from the state budget. The results of the research testify to the positive dynamics of this process. Taking into account the advantages of local government reform, the financial and managerial risks of this process are indicated in the conditions of Ukrainian realities, which made it possible to determine the main directions for improving the mechanism of budgetary decentralization in order to increase the financial independence of the regions.

Keywords: budget system, local budget, local budget revenues, local government reform, power decentralization, budgetary decentralization, united territorial community, able territorial community.

Zianko V.,Nikiforova L., Dong X.

MODEL OF FINANCIAL SUPPORT FOR INNOVATIVE ACTIVITIES OF SMALL ENTERPRISES

In the article the authors propose a multi-factor model of financial support for innovative activities of small enterprises, in which, unlike the existing similar models, the factors that have a clear financial dimension are taken into account. This model can be used at small enterprises, especially at the initial stage of their operation, to increase the efficiency of innovative activities.

Keywords: sources of financing, innovative activities, innovation, small enterprise, model, financial support.

Paliychuk Т.

MODELS OF FISCAL DECENTRALIZATION IN THE SYSTEM OF GOVERNMENT FINANCE MANAGEMENT REFORMING

The systematized classification of fiscal decentralization models is represented in the article by such features as: the way of dividing income between the budget system levels, the correlation of power centralization advantages and disadvantages , the way of local government, the degree of public administration centralization (decentralization), the degree of regional and local authorities independence, and administrativeterritorial structure. The main characteristics of fiscal decentralization models and the countries, where these models function, are defined in the article. It is proved that the fiscal decentralization model is a set of financial system subjects relationships regarding the formation, budgetary funds distribution and redistribution, powers and responsibilities between different levels of government. The functioning of the model is based on the institutional and organizational foundations of the financial system and the system of intergovernmental fiscal relations.It was found that no one model of fiscal decentralization remain unchanged for a long period of time - the balance of power alternates between the center and the state entities. The model is a dynamic system, adaptable to changing social and political conditions. In Western Europe countries, there is a general trend in the public finance management system development - the intergovernmental fiscal relations liberalization, the strengthening of the regional and local budget's role in the solving of territorial development problems. The study carried out the ways of the inter-budgetary relations system improving, ways of resolving contradictions between subjects of state administration regarding the financing of the provision of public services by authorities of different levels of the budget system was carried out. The conceptual basis for an effective fiscal decentralization model choosing for Ukraine was proposed and justified. It is determined that the main criteria for choosing one or another fiscal decentralization model are the main challenges that it is designed to do. These objectives include: alignment of socio-economic development of regions (territories); solving national problems and achieving national goals in the production and transport infrastructure development, strengthening the defense capacity, ensuring the minimum necessary level of the education spheres development, healthcare, etc., and creating incentives for the initiative of local self-government development.

Keywords: fiscal decentralization, fiscal relations, local budgets, financial autonomy, tax autonomy, models of fiscal decentralization, interbudgetary transfers.

Sviatash S.

TAX PLANNING AND TAX OPTIMIZATION IN THE CONTEXT OF MAXIMIZING THE BENEFITS OF TAXPAYERS AND THE STATE

Effective activities of taxpayers are based on the implementation and application of optimal planning. The imperfection of tax legislation along with increasing tax pressure on taxpayers encourage the latter to evade taxes which is a crime against the state. At the same time, enterprises’ use of possible legal ways to minimize taxes allows withstanding financial difficulties. Today, tax minimization becomes one of the most important tasks of financial management of an enterprise in the context of financial resources management. Effective tax planning involves the use of the best methods and tools of tax planning for each individual period, calculation of tax payments, development in accordance with the chosen model of tax planning at the enterprise, etc. Actually, for the state, any optimization of taxation is a negative phenomenon because the state does not receive payments to the budget. However, reducing enterprise’s costs improves the financial and economic status of taxpayers and is a normal phenomenon of doing business and economic processes. In this case, the state is even interested in optimizing the taxation of taxpayers in the long run. Thus, it would be logical for the state to improve tax administration by automating tax programs both for taxpayers and supervisory bodies. One of the most important factors in preventing and detecting tax evasion is the technical and software support of supervisory bodies. It would also be useful to introduce a single software for taxpayers for reporting which would be logically integrated into the tax authorities’ software, and thus they would be able to carry out an automated full check of the taxpayer’s economic activity. Such automation will allow taxpayers to cooperate with each other (counterparties) as well as with the state. And also it will allow the state to cooperate (between different departments on the basis of a single database of information) with taxpayers as partners. It is also necessary to conduct training and professional development of the personnel of the supervisory bodies because of rapid changes in the management models and new challenges of the present.

Keywords: tax, taxpayer, tax planning, tax optimization, avoidance of tax payment, minimization of taxes.

Stabias S.

ECONOMIC CONTENT OF REGULATION OF THE MARKET OF CORPORATE SECURITIES

The fundamental role of the securities market in a market economy is to accumulate the savings of business entities and the population, and also to use these funds to create new capital. In addition, it should be noted that the securities market is a fairly complex economic system and differs from other types of the market primarily by the specific nature of its product.A lot of works of foreign and national scientists have been devoted to the study of the development of the corporate securities market. Theoretical bases and practical aspects of the functioning of corporate securities markets have been studied in the works of foreign researchers, among them: M. Alekseev, A. Basova, R. Levin, F. Modigliani, A. Martinez, B. Rubtsov, M. Scholes. Among national scientists special attention deserves the works of L. Alekseenko, N. Grebenik, V. Korneev, M. Makovetsky, A. Mozgovoy, D. Tarasyuk, V. Oskolsky. Paying tribute to the conducted research, it is worth noting that aspects of determining the place and role of the corporate securities market in the domestic financial market, determining the factors of influence on the development of the market remain insufficiently investigated. The article reveals the role and place of the corporate securities market in the structure of the financial market and examines approaches to the definition of the securities market, both the economic definition and the corporate securities market. The influence of the main factors on the formation and development of the corporate securities market was revealed and justified. A number of specific features and functions of the corporate securities market were singled out and considered. The advantages of exchange and over-the-counter trade in corporate securities market are analyzed. Types of securities as instruments on the corporate securities market are considered.

Keywords: securities market, primary and secondary securities market, capital, corporate securities market, financial instruments, emission.

Section 6. ACCOUNTING AND AUDITING

Bondar M., Іеrshova N.

METHODICAL APPROACH TO PRICING OF INNOVATIVE PRODUCT BASED ON THE INFORMATION OF STRATEGIC MANAGEMENT ACCOUNTING

The strategy and tactics of pricing for innovative products determine the current and strategic competitive positions of economic entities. The formation of the price of an innovative product acquires a special importance in the development of strategic management accounting becomes important. Strategic management accounting is the information base for making managerial decisions to improve the competitiveness of an enterprise. The purpose of the study is to improve the methodological approach to the formation of prices for an innovative product of the enterprise on the basis of strategic management accounting information. Methods of research are based on the methodology of the system and process approaches. This allows us to discover the causal relationship between innovation and strategic management accounting. Parametric and expert methods are used to justify the methodological approach. The urgency of determining the price of an innovative product based on a statistical analysis of the distribution of enterprises that implemented organizational and marketing innovations was investigated. Classification of objects of strategic management accounting of the company's innovation activity, which is the basis for the formation of the characteristics of an innovative product is presented. The methodology for setting the price for an innovative product is proposed. This method involves several steps: the formation of groups of characteristics to evaluate a new product based on the data of strategic management accounting, ranking the significance of characteristics by groups of experts, calculating the integral index of product innovation. Appropriate questionnaires for the implementation of the peer review method have been proposed. The formation of prices for a new product on the basis of strategic management accounting information makes it possible to make its use relevant at the design stage of a new product.

Keywords: price, information of strategic management accounting, parametric method, integral indicator of product innovation.

Brokhun N., Novichenko L

ACCOUNTING AND ANALYTICAL SUPPORT OF COMPANY MANAGEMENT: THEORETICAL BASIS OF ECONOMIC CONTENTS

Theoretical background of accounting and analytical support creating, as a key element in financial stability ensuring and long-term enterprise functioning are investigated in the article. Enterprise management system is directly dependent on the qualitative and operative information basis formation for the qualified and effective management decisions adoption. At this point in time, there is a situation when the conceptual framework of accounting partially satisfy the information requirements of managerial staff. There is a need to expand and provide detail and structuring of information taking into account the risks of activity. The urgency of further systematization of approaches to determining the economic content of the concept of "accounting and analytical support" is justified in the study. The main approaches to concept explaining of "accounting and analytical support" content are systematized based on the systematization of definitions in various literary sources. Attention is focused on the multidimensional nature of the definitions A comprehensive approach to the economic definition of the content "accounting and analytical provision" is justified and proposed in the study. Accounting and analytical provision is a system of accounting and analytical information and information flows, procedures for collecting, preparing, registering, summarizing, storing, transferring, analyzing and evaluating the performance of an integrated information system in an enterprise. Principles of organization of accounting and analytical support for enterprise management in the current conditions of management were proposed (synergy, emergence, complexity, continuity of interaction, efficiency). The use of the proposed principles will ensure conformity of the accounting and analytical support to the peculiarities of the economic activity of the enterprise. Ensuring a stable and steady financial condition of the enterprise, balancing information flows in the context of the requests of interested users, neutralizing the impact of internal and external threats to the enterprise development, a reduction in the level of financial risk as a whole is impossible without the presence of an effective and wellorganized accounting and analytical support.

Keywords: accounting and analytical support, information flow, relevant information, management system, financial stability, risks, efficiency evaluation.

Vygivska I., Hrabchuk I., Hryhorevska O.

ACCOUNTING AND FINANCIAL STATEMENTS OF ASSET MANAGEMENT COMPANY: PROBLEMS OF ORGANIZATION

The realities of our time dictate the features of the investment business and, accordingly, management. The subjects of collective investment in Ukraine serve corporate and mutual funds that have a great variety depending on: 1) the exercise of (open and closed); 2) of the assets (diversified and nondiversified); 3) in terms of creation (term and perpetual). However, inherent in the above activities of collective investment institutions (CII) is the existence of companies managing their assets. The functioning of the above investment funds for collective investment market is constantly under the supervision of the National Commission on Securities and Stock Market (SSMNC). SSMNC a daily, monthly, quarterly and annual monitoring of the activities of collective investment institutions through effective reporting system, in particular in terms of net asset value, the volume of securities and change others. The paper outlines the current problems of accounting and reporting of asset management companies arising in the course of their activities as delegated by the National Commission on Securities and Stock Market "controllers" assets of collective investment institutions. The transition in 2015 to the international standards of accounting and financial reporting for subjects of collective investments market, caused a number of problems concerning the harmonization of accounting and reporting of investment funds and asset management companies and IFRS; there was a need to adjust the methodology for determining net asset value of investment funds; clarification of accounting information and more. The article analyzes the current legislation of Ukraine on accounting and financial reporting of joint investment institutions and asset management companies, set their level of adaptation to IFRS singled directions solving problems concerning formation of an asset management software. It was found that the prospects for future research is to improve methods of accounting assets of mutual funds to form and presentation of the financial statements are complete and accurate information about the fund's assets and results of operations.

Keywords: asset management company, investment fund, accounting, financial statements, the value of net assets, institutions of joint investment.

Volkovska Ya.

MANAGEMENT ACCOUNTING ORGANIZATION AT THE ENTERPRISES OF HOTEL AND RESTAURANT COMPLEX

Management accounting is becoming a necessary base for the formation of information and analytical support. However, its organization needs a certain sequence of actions which are not legally established. Management accounting depends on the needs of management, so the company should be considered management requests, and the enterprise specifics. Enterprises of the hotel and restaurant complex differ from others, primarily by combining the sale of finished products, goods, works and services, with the presence of a large number of units, so management accounting is necessary for data on the whole complex. Stages formation of the administrative account organization on an example of the enterprises of a hotel-restaurant complex is the purpose of the article. approaches of different scientists to the management accounting organization were analyzed for this. The author has constructed a sequence of stages in the organization of management accounting, where each stage is detailed by a separate process. The following stages of organization of management accounting at the enterprise are distinguished: preparatory, methodological, regulating, accounting, technical and analytical. At the preparatory stage, the managerial accounting structure is formed, on the methodological - the main accounting methods that will be used for accounting, at the regulatory stage, the list of performers is determined, at the accounting stage - the composition and content of primary documents, managerial reporting is determined, at the technical stage, the software is selected and filled with the necessary tasks, at the analytical stage, the indicators are analyzed and recommendations are made for introducing changes in the company's strategy. Each stage includes a number of actions, characterized by the author. It is also noted that management accounting directly depends on the management needs. When they change, it is necessary to make changes to the existing management accounting system, i.e. depending on how significant are changes, it makes sense to talk about the cyclicality of management accounting. It is concluded that the proposed stages in the management accounting organization are universal and have practical value.

Keywords: management accounting, organization, enterprises of hotel and restaurant complex, management accounting system, stages, management reporting.

Goncharenko O.O., Dzemishkevych I.O.

TASKS AND FUNCTIONS OF ACCOUNTING: MODIFICATION UNDER THE INFLUENCE OF NEEDS NONBANKING FINANCIAL AND CREDIT INSTITUTIONS MANAGEMENT

Effective management of non-bank financial and credit institutions is achieved through the implementation of the basic functions (planning, organization, motivation and control), the relationship between which is provided by the accounting system. Performing a service function, accounting is a subject to constant change, both on the theoretical and empirical levels of knowledge. Tasks and accounting functions, depending on factors such as the scope of activity of the enterprise, market economic conditions, taxation system, the overall economic situation, may be modified, that is, a shift of emphasis may be on the relevance of a task or function, increase or decrease in their value, taking into account the detailed features of the industry functioning. The mechanism of factors influence on the accounting goals, tasks and functions are represented by extrapolating the I. Lakatos research programs theory: the most resilient to changes in the component of accounting, that is, the "hardcore", is the goal; tasks and functions, detailing and explaining the goal, and also ensuring its implementation, act as a "protective belt". Under the influence of various factors, the "protective belt" is deformed, adapting to environmental conditions. Depending on the power factor effect can be deformed as the outer circle of the "protective belt" (accounting functions) and inner (accounting task). "Hardcore" does not provide for deformation due to the influence of the factors of change. However, in the case of a fundamental change in the economy, the existing core is destroyed, as a result, a new one is formed, that is, changing the purpose of accounting. The identification of the social direction of activity was determined by the dynamics of economic relations of the last three decades. Strengthening the value requires new management methods and shifting the focus of attention from exclusively financial security to the implementation of social business objectives. Moreover, the sphere of the financial sector is not become an exception to this rule. Accordingly, the allocation of social accounting function causes the expansion of its tools in order to meet the management needs. Understanding the transformational changes in the three-component accounting framework (goals, objectives, functions) ensures an increase in the effective use of the accounting potential to ensure the effective management of non-bank financial and credit institutions implementation of the social value of accounting.

Keywords: functions, tasks, accounting, non-bank financial and credit institutions.

Sobolieva-Tereshchenko O., Zharnikova V.

FEATURES OF ACCOUNTING SETTLEMENTS WITH CUSTOMERS IN CONDITIONS OF APPLICATION OF LOYALTY PROGRAMS

The article reflects the results of research on different approaches to the reflection features of accounting of settlements with buyers in trade with the application of loyalty programs. The authors analyzed the main actual definitions of various sources on the scientific interpretation of the concept of "loyalty program". Based on the authors research, general classify of loyalty programs is presented, which based on the needs of their correct evaluation in account. The authors suggest to classification loyalty programs that depend on type of prospectively or retrospectively reflection in the accounting, such as: discount programs, bonuses programs and awards programs. So, the authors grouped the contents and possible variations of modern tools of loyalty programs depending on the basis of calculation, the way of expression, and the form of provision. The authors examined and systematized the advantages and disadvantages of discount programs, bonuses programs and awards programs, which can arise, for example, as a result of discounts, rebates, refunds, bonuses or other similar awards. So, in the opinion of the authors, the discounts, bonuses, cash-backs and other awards must have account for as a separate component of the sale transaction. Where consideration is paid as cash-back or as bonuses, seller and buyer must have adjusted for the time value of money. In this way the authors offer the practical decision is available where the interval between transfer of the goods and payment by the customer expect to be less than 12 months. In this case, authors recommend to implementation specific accounts, such as: «Incomes of future periods from the loyalty program», «Expenses of future periods for loyalty programs» and «Missed bonuses and discounts». In conclusion, the authors generalize the main features of accounting for loyalty programs and outline the prospects for further research on this issue.

Keywords: accounting, customer settlements, loyalty programs, IFRS 15, trade, discount programs, bonus programs, rewards programs.