Audit and economical analysis

Development of measures aimed at financial rehabilitation of the enterprise and adoption of management decisions on their implementation

It requires a number of measures aimed at financial rehabilitation of business entities and improving their financial condition. The use of internal resources in the most important decision-making, however, does not always produce the expected outcomes and, in the long run, requires a deeper look at outsourced sources, a well-defined strategy and tactical plan to use them, and a thorough analytical substantiation of the project. At the very least, the modernization or technological re-engineering of production, unfortunately, is not the only one that will be the only solution. In the financial improvement of enterprises, the State Competition Committee has been working with local authorities, local banks and commercial banks to increase the capacity of small-scale enterprises, establish new types of activities on the basis of free objects and the effectiveness of the work being done in this regard. This should also be done when increasing the utilization of energy and establishing new products, in order to create new, innovative, competitive products, and to sell them abroad later, focus on foreign economic activity It is important that you put it in the right place. Implemented financing primarily affects the resources of commercial banks. As a result, a number of banks have been involved in working with private groups to assess the effectiveness of projects and their valuation. Such as NBU Investment, NBU Invest Group, Asaka Investments, Agroinvest Recovery, and PSB Industrial Investments. It should be noted that enterprises newly established on the basis of economically insolvent enterprises are subject to VAT, property tax, land tax, income tax and single tax deductions up to 3 years from the date of registration , as well as the procedure for applying these tax benefits to new owners for up to three years. Also, by April 1, 2019, raw materials, components and components imported for modernization and expansion of production are exempt from customs duties (excluding customs clearance fees). In economically expatriated countries, 5 to 10 percent of enterprises annually are recognized economically insecure, and their activities are halted. But the practice of Uzbekistan is very low. The number of enterprises admitted as bankrupts does not exceed 1% of the total number of enterprises. That's why we have to worry about this. This solution is very simple. If one enterprise is shut down because of economic difficulties, then the community and the entire society will suffer losses, not just the owners of that company.

The Law of the Republic of Uzbekistan "On Bankruptcy", adopted in 1994, reflects the above-mentioned legal norms aimed at combining these two directions. However, given the content of subsequent laws and sub-legal acts, we have already become more aware of the nature of the second aspect of the legislation in this area, which means that the approach to debt relief approaches varies. The development of our legislation in this direction is economically sound. The same can be seen in the measures taken in the agrarian sector for the removal of economic entities from the economic downturn. Therefore, the adoption of the Law "On Agricultural Enterprise Rehabilitation" and the Law "On Bankruptcy", in particular, included specific legal norms for agricultural enterprises. This is because the Law defines the measures of protection of the economic and legal interests of such enterprises, their financial support and increase of productivity, as well as the features of the recognition of the economically insolvent agricultural enterprises as bankrupt is given. Indicators, evaluating the economic vulnerability of enterprises, include the following CIS countries:

- approval of "roadmaps" and network schedules of investment projects implemented on the premises of commercial banks as a result of non-repayment of the property of bankrupt enterprises and loans provided earlier;

- identify a list of bankrupt enterprises whose sales are to be sold to commercial banks through the auction;

- approval of conditions and results of competitive bidding for commercial banks to sell bankrupt enterprises with the condition that the commercial banks will undertake the obligation to provide restoration, modernization, technical and technological re-equipment of the enterprise, organization of competitive production in domestic and foreign markets;

-transfer and make decisions on the sale of commercial banks with the "zero" purchase value with acceptance of investment obligations of the bankrupt enterprises;

- consequences of monitoring results of commercial banks on the basis of real estate objects acquired on the property of commercial banks as well as their subsequent sale to new owners, as a result of commercial banks fulfilling their obligations, financial rehabilitation of enterprises and non-repayment of earlier issued loans ribbon; - making decisions on cancellation of contracts in accordance with established procedure by the commercial banks in case of non-fulfillment of accepted obligations on restoration of activity of bankrupt enterprises and investment of bankrupt enterprises; - to make a decision on cancellation of the contract of sale with this bank in case of non-fulfillment by the commercial banks of their obligations under investment contracts and restoration of the business activity of the bankrupt enterprise.