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FINANCIAL PERFORMANCE FORECASTING OF THE ACTIVITY OF SMALL BUSINESS THROUGH APPLIED STATISTICS

Volume: 60  ,  Issue: 1 , September    Published Date: 21 September 2020
Publisher Name: IJRP
Views: 69  ,  Download: 19
DOI: 10.47119/IJRP100601920201424

Authors

# Author Name
1 GOLIBBEK RAKHMONKULOV
2 WEI WANG

Abstract

In modern realities, in a market economy, it becomes important to analyze and forecast the main indicators of the financial activity of the enterprise. Financial management involves predicting the performance of the organization, since it allows you to perform a comprehensive analysis and assessment of the financial and economic prospects for the development of the organization, to formulate an optimal development strategy, as well as tactics of actions in the implementation of financial and supply chain activities. In addition, qualified economic specialists, thanks to knowledge of modern methods and technology for predicting the performance of an enterprise, are able to adapt in a timely manner to changes in the market situation in order to develop suitable solutions. The main objective of forecasting financial results for the next financial year is to assess the dynamics and analyze the relationship of indicators directly related to the financial condition of the enterprise, as well as having a significant impact on the formation of its financial result. Forecasting the financial results of the enterprise and analysis of its financial condition also allows you to identify problem areas that can lead to bankruptcy. The article considers and analyze the main methods of forecasting the financial result of the organization.

Keywords

  • Technical indicators
  • Prognostics
  • Forecasting
  • Bankruptcy
  • Forecasting methods
  • financial result and efficiency
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