FINANCIAL STRATEGY DEVELOPMENT PROCESS

Abstract. The article aims at defining the theoretical and methodological provisions and justifying the practical recommendations for the development of financial strategy of enterprises. The financial strategy development is an absolute imperative for ensuring its organizational and economic development of the enterprise operating in the current economic environment. The financial strategy can be defined as a complex long-term plan for the organization of systemic activity for achieving its financial goals through the formation, allocation (reallocation) and use of financial resources. The financial strategy can be defined through its specific characteristics: subordinate and supporting character in the hierarchy of the company strategic pyramid in relation to the general corporate strategy; penetrating all other varieties of strategies of the company, creating financial support and provision for their implementation; strategic long-term orientation; is based on the results of the analysis of strategic financial information; is developed and adjusted on the basis of system-situational approach. The financial strategy development is a long and complicated process covering financial analysis of external and internal environment; definition of the strategic financial goals; financial strategy development in the following areas value-based management, accounting, asset management, cash flow management, credit policy, investment policy, financial risk management, dividend policy; financial strategy implementation and monitoring. Keywords: accounting policy, asset management, cash flow management, dividend policy, financial strategy. JEL Classification G32 Formulas: 0; fig.: 1; tabl.: 0; bibl.: 10.