Code
Selecting conditions
Respondent’s
reply
Z8
The adaptation possibility of the designed indicators model to the
functioning terms of the consumer cooperation system
Z9
The adaptation possibility of the designed model to the terms of the
market economy
Z10
The economic practicability of constructing and selecting indicators of
financial stability
Z11
The rationality of selecting the financial stability indicators as a tool for
financial controlling
The most significant conditions for the selection of financial stability indicators
are singled out on the basis of methods applied in decision-making theory. It is
practicable for experts to use this list in order to evaluate the scoring system. It will
allow forming the compliance matrix of scoring system and goals and objectives of
financial controlling.
On the basis of the conducted research the following criteria for selection of
financial stability indicators have been singled out as well as their significance and
correlation have been determined (Fig. 1). The first and the most important criterion
for any indicator selection is its ability to measure the degree of goals achievement.
Herewith, the basic methodological questions asked to determine the applicability
parameter is “Does this indicator give the comprehension of the goal achived?”
Another decisive criterion for indicator selection is its influence on the behavior
of the participants involved into the process as well as the employees.
Undoubtedly, the financial controlling system can operate only those parameters
responsibility for which can be assigned to specific officers who have a real ability to
influence their dynamics.
There is no standardized opinion in economic literature regarding the
measurability of indicators. Thus, some sources consider measurability of indicators as
a prerequisite for their use, while others assume that in the absence of financial stability
indicators, the text description can be used [1, 4, 5, 8].
Compliance with data availability is closely linked to the principle of efficiency
that meets the latter criterion: if the data collection for calculating the indicator value
requires more expenses than expected benefits from its use, it is not practicable to
include this index into the system of financial controlling.
Based on the analysis of selection criteria (Fig. 1), we have formed the selection
algorithm of the financial stability indicators for their use in financial controlling
system of enterprises and organizations of consumer cooperation (Fig. 2). Practical
implementation of financial controlling into the system of consumer cooperation can
significantly ease the procedure for selecting key indicators both in strategic and
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