Mirismayil Seyidov – University “Khazar”, Azerbaijan, Baku
Emin Mammadzadeh – Institute of Economics, Azerbaijan National Academy of Sciences, Azerbaijan, Baku
Small and medium enterprises are a fundamental part of the development of all sectors of the economy. World practice shows that significant reserves to increase production efficiency are laid in the process of restructuring state enterprises and expanding business. In such a situation, the activation cost lever is especially important, successfully affecting the performance of all participants in the proceedings. In these conditions, financial diagnostics of small and medium-sized businesses is especially important. The novelty of the study is the development of financial diagnostic methods for small and medium-sized businesses. Object of study: financial activities of small medium-sized businesses. The purpose of the study: conceptual approaches to organizing and conducting financial diagnostics of small and medium-sized businesses. Research objectives: to analyze the development trends of small and medium-sized enterprises in the Republic of Belarus, to generalize approaches to the financial diagnostics of small and medium-sized enterprises, to determine a comprehensive approach to financial diagnostics. Research methods: as the main methods used in economic analysis and synthesis, comparing, summarizing, studying the theoretical and methodological foundations of financial diagnostics, the main approaches to organizing and conducting financial diagnostics of small and medium-sized businesses; the work of domestic and foreign economists and practitioners in the field of scientific research. Results of the research: The lack of practical developments that fully characterize the methods of financial diagnostics made it possible to substantiate: the basic principles of organizing and conducting financial diagnostics; prerequisites for ensuring financial diagnostics; requirements for information about financial diagnosis.
Key words: small and medium enterprises, financial diagnostics, principles of financial diagnostics, necessary prerequisite for ensuring financial diagnostics, methods.