Nargiza kasimova farkhod mukhamedov elkan harebov

 
 
39 

---

3. THE ESSENCE AND COMPONENTS OF THE FINANCIAL POLICY 
OF PUBLIC-PRIVATE ENTERPRISES 
 
3.1. The policy of Forming Sources of Financing for Public-Private 
Enterprises 
 
The world and Russian scientific community have  been discussing for a 
long time on the essence of the organization’s financial policy. There are various 
approaches, supported by theoretical and practical developments, to the 
definition of the concept of “financial policy of the organization”, which 
indicates the multidimensionality of the scientific concept of “financial policy of 
the organization”. Nevertheless, the unity of views on the essence of the 
financial policy of an enterprise (organization) among scientists has been 
sufficiently achieved. We support the generally accepted point of view on the 
unity of policy, strategy,  and operational planning as different levels of 
managing an economic entity in the foreign and Russian scientific community 
(Veretennikova et al., 2016). 
The primary basis of the management process is the policy developed by 
the owners. In this format, under the policy should be understood the principles 
of the organization of a managed process that are acceptable to the developer. 
In accordance with the policies adopted by the owners of a business entity 
(organization, enterprise), leading managers develop a long-term strategy. Based 
on the developed long-term development strategy, the foundations of operational 
planning (management) for the current financial year are laid. 
We consider the financial policy of an economic entity (organization) as an 
intraeconomic imperative system of monetary relations, within the framework of 
which the organization’s financial resources are managed, and we propose to 
consider: 
- according to the ideological approach — as a reflection of the position of 
the owners regarding the development prospects of the financial activities of the 
organization 
- according to the hierarchical approach —  as the primary basis of the 
process of strategic and operational management of the financial activities of the 
organization 
- according to the normative approach —  as a system of norms and 
principles of organizing the financial activities of an economic entity to achieve 
its goals 
- according to the elemental approach — as a set of different subspecies of 
an organization’s financial policy, classified according to various criteria 
(according to financial management facilities, by period of implementation, by 
implementation models, etc.). 
 
40 

---

Financial policy is a basic element of the organization’s economic policy, 
is formed by owners to  increase their well-being by maximizing profits, 
increasing the competitiveness of the business entity and its products. 
All  the above applies equally to public-private enterprises, therefore, 
further, unless otherwise agreed, speaking of business entities, we  will also 
mean public-private enterprises. 
The policy of generating money capital (funds) is the conditions for 
determining the optimal ratio between sources of financing the activities of an 
agro-industrial enterprise, based on minimizing the costs of attracting them to 
ensure competitiveness and increase the market value of the enterprise (Kazak et 
al., 2003). 
Money capital (funds) is money raised from capital markets, from the 
budget, as well as funds created by the corporation itself and sent to various 
business entities. The characteristic of money capital is given in Table 2. 
Table 1.