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УДК 658.5:338.432

DOI: https://doi.org/10.36887/2415-8453-2024-4-8

Krasnorutskyy Oleksiy,
Doctor of Economics, Professor, Acting Director,
Livestock Farming National Academy of Agrarian Sciences of Ukraine
https://orcid.org/0000-0003-1744-3257
Marenych Tetiana,
Doctor of Economics, Professor, Chief Researcher of the Department of Economics,
Management and Transfer of Innovations in Livestock Farming,
Livestock Farming National Academy of Agrarian Sciences of Ukraine
https://orcid.org/0000-0003-3162-7394
Krichfalushii-Stepanova Kristina,
Candidate of Sciences in Law, Senior Researcher
of the Department of Economics, Management and Transfer of Innovations in Livestock Farming,
Livestock Farming National Academy of Agrarian Sciences of Ukraine
https://orcid.org/0009-0002-2993-5048
Bohdaniuk Ihor,
Candidate of Sciences in Law, Senior Researcher,
Deputy Director for Organizational and Scientific Work and Technology Transfer,
Livestock Farming National Academy of Agrarian Sciences of Ukraine
https://orcid.org/0000-0003-4782-9986

JEL classification: D20; L10

The article is devoted to substantiating the significance of the potential of agricultural enterprises as an independent object of evaluation and control in the management system of their activities. Based on the work of domestic scientists, it was established that today, among scientists, there needs to be a unified approach to understanding the object of assessment at the level of enterprises to implement practical management actions regarding the use of their potential opportunities in the future. The analysis of literary sources proved that related concepts, which are interdependent among themselves and related to the potential of the enterprise (“capital”, “equity”, “enterprise value”, “business value”, “net assets”, “estimation”, etc.), have their purpose and the corresponding method of calculating their values. Approaches to the interpretation of the term “capital” are summarized. In economic theory, capital represents a set of resources, an important factor of production and circulation. The financial approach is based on the concept of “financial resources”, and the accounting approach consists of the fact that the capital is understood as the starting capital at the time of the creation of the enterprise and during economic activity – the share of the assets of the enterprise that remained after deducting all liabilities (equity). It was concluded that measuring assets and liabilities and the concept of capital preservation determines the accounting model used to prepare financial statements. It was found that equity is the main element of financial reporting, which directly affects the enterprise’s financial condition. Its size is an estimated value equal to the enterprise’s net assets. Net assets are a more legal and accounting category since their size can affect the reduction of authorized capital, the liquidation of companies, and the implementation of transactions in limited liability companies. Generalizing indicators of the development of the enterprise includes the value of its business, the calculation of which is necessary in some instances, especially when selling and liquidating the enterprise. The value of an enterprise as a business is mainly determined by its property status and a combination of internal and external factors. It was concluded that the value of the business, to the greatest extent, characterizes the potential of the enterprise, and its increase in dynamics will indicate the effectiveness of management. However, carrying out a business valuation requires the involvement of professional appraisers and complex valuation procedures. It is substantiated that the potential of the enterprise is a separate, independent object of assessment, analysis, and control in the management system, closely related to management concepts. The assessment of the enterprise’s potential should consider future profits and not be based only on past costs. The assessment result should not depend on subjective factors. It is not the knowledge of the company’s employees that should be evaluated, but the technologies that allow them to be used effectively. The relationship between these related concepts is established, which is manifested in the fact that they are all based on resources that are used for the production of products (works, services) and other economic purposes; they are subject to evaluation according to established methods, taking into account market factors to varying degrees; enable the analysis of various aspects of activity according to the relevant indicators. Data on changes in the company’s resources are usually helpful in forecasting the future profit of the business entity. Assessing the value of assets, costs, equity (net assets), and enterprise business is a basis for making important management decisions. Ensuring effective management of the company’s potential and making balanced management decisions should be based on information about various aspects of its formation, implementation, and expansion. It is argued that the essential source of information for assessing potential is accounting and financial reporting data. At the same time, the accounting system in its current form cannot act as a fully-fledged tool for determining the value of the company’s potential, which would satisfy the needs of users of such information. This is explained by the fact that the components of the company’s potential can be elements that are not considered in the accounting system. The valuation of assets at fair (market) value, which is widespread in accounting, needs to solve the problem of assessing the potential, which is not limited to determining only one cost of creating (acquiring) resources. At the same time, a set of market factors and the influence of the macro- and microeconomic environment in which the enterprise operates must be considered.

Keywords: enterprise potential, capital, equity, business value, net assets, valuation, evaluation, management, information.

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The article was received 05.11.2024