Determination of the features and basic principles of finance of railway transport in conditions of energy conservation

Authors

  • Yuliia Kovalchuk Kharkiv Educational and Scientific Institute of the State Higher Educational Institution "University of Banking", 55, Peremohy ave., Kharkiv, Ukraine, 61174, Ukraine https://orcid.org/0000-0001-5122-4408

DOI:

https://doi.org/10.15587/2706-5448.2020.207910

Keywords:

railway transport enterprises, organization of finance, energy conservation, financial management, railway finance

Abstract

The object of research is the finance of the railway industry in terms of energy conservation. Since the role of railway transport in social production is unquestionably significant, because until a certain product is delivered to the consumer, it is not completely manufactured, so to speak, and can’t be used by the consumer. An important role in the work of railway transport is played by its finances, without which the work of enterprises is impossible, especially in conditions of using energy-saving technologies.

It is shown that the financial management of the transport industry in the context of energy conservation at the present stage of development of the railway industry and the country’s economy is one of the main areas of management activity. Financial management of transport enterprises is the process of coordinating all the determining components of the financial system to achieve the stable operation of transport enterprises and, no less important, its development. The content of such concepts as «financial management» and «finance of the railway industry enterprise» has been clarified based on a synthesis of various modern scientific approaches to the study of these categories and the identification of the main features for adaptation to energy saving conditions. So, let’s consider the finances of the railway transport company as the monetary system of the specified economic entity, that is, the totality of payments, receipts, distribution and use of funds in the process of its production and economic activity. Effective financial management of a railway company is an opportunity for organizational, financial and economic sustainability of a railway company in the context of energy conservation. At the same time, losses from compliance with the above conditions are minimized, thereby maximizing the economic added value of the enterprise during its operation and development. Consequently, the financial management of the transport industry company works by saving energy resources; it should use a management model that provides solutions to the interrelated tasks that arise with this method of managing.

Author Biography

Yuliia Kovalchuk, Kharkiv Educational and Scientific Institute of the State Higher Educational Institution "University of Banking", 55, Peremohy ave., Kharkiv, Ukraine, 61174

Postgraduate Student

Department of Finance and the Financial and Economic Security

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Published

2020-06-30

How to Cite

Kovalchuk, Y. (2020). Determination of the features and basic principles of finance of railway transport in conditions of energy conservation. Technology Audit and Production Reserves, 3(4(53), 22–27. https://doi.org/10.15587/2706-5448.2020.207910

Issue

Vol. 3 No. 4(53) (2020): Economics of enterprises. Macroeconomics

Section

Development of Productive Forces and Regional Economy: Original Research

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Copyright (c) 2020 Yuliia Kovalchuk

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