STATE OF FIXED ASSETS AS A COMPONENT OF FINANCIAL SECURITY PJSC «UKRZALIZNYTSYA»

Abstract

The paper is devoted to the investigation of the impact of fixed assets on the financial security of PJSC «Ukrzaliznytsya». Approaches to the definition of the concept of «financial security» are considered. Differences between extensive and intensive approaches to financial security are identified. It is shown that during the independence of Ukraine the financial security of rail transport was extensive and was provided by "eating out" the production potential created in the USSR, which resulted in a rapid increase in the depreciation of fixed assets and almost complete depletion of the technical resource of the railways. The dynamics of the formation of financial resources of rail enterprises is investigated. It was determined that the financial strategy for renewing fixed assets should be based on the harmonization of investment and credit strategies. It is shown that the investment strategy of rail transport should be developed on the basis of the parity of investment needs and the available volumes of investment resources with the definition of economic feasibility of investments. Formation of the credit strategy should provide for an assessment of the necessary amounts of financing in accordance with the investment strategy and strategy for the development of rail transport, determining the amount of own financial resources, forming and summarizing credit alternatives and implementing measures to increase the investment attractiveness of the industry. The principles of development of investment and credit strategies in conditions of shortage in crisis conditions are offered. A methodology for developing a financial strategy for updating fixed assets is proposed. It provides for assessment of long-term prospects for the development of the industry.