INTERNATIONAL MULTIDISCIPLINARY JOURNAL FOR
RESEARCH & DEVELOPMENT
SJIF 2019: 5.222 2020: 5.552 2021: 5.637 2022:5.479 2023:6.563 2024: 7,805
eISSN :2394-6334 https://www.ijmrd.in/index.php/imjrd Volume 12, issue 04 (2025)
204
MANAGEMENT AND EVALUATION OF EFFECTIVENESS IN INTERNATIONAL
COMPANIES
Nasimov Bakhtiyor Vasiyevich
Researcher of Tashkent stat university of economics,
https://orcid.org/0009-0002-4813-3630
Abstract.
The article examines the scientific, theoretical, and methodological foundations for
organizing and assessing the effectiveness of control in international companies. By addressing
both theoretical and practical challenges related to this topic, it provides scientific and practical
recommendations for organizing and evaluating control effectiveness at UZTEX TASHKENT
LLC, which serves as the research subject.
Key words:
effective control system, internal control, joint venture UZTEX TASHKENT LLC,
economic indicators of the joint venture, financial performance of the joint venture.
Introduction.
Establishing an effective control system in the process of technological
modernization and technical re-equipment of production Control systems can analyze a very wide
range of events, from measuring production output to measuring organizational behavior, which is
a much more complex task.
President of the Republic of Uzbekistan Sh.M.Mirziyoev said, “In the first quarter of 2020, on the
basis of best practices, a new modern system must be introduced in regulatory agencies at all
levels. It is through this system that each enterprise and entrepreneur must be dealt with
individually to ensure their legal operation, and inspections must be conducted fairly as a last
resort. ” He pointed out.
Control is exercised at all levels of management: corporate, divisional, functional, and individual.
Control is an important task related to the quantitative and qualitative evaluation of the results of
the enterprise. It will consist of a feedback system, the purpose of which is to ensure that the goals
set by the organization are achieved.
Therefore, at present, one of the most pressing issues is the establishment of an effective control
system in the process of technological modernization and technical re-equipment of production in
the real sector of the economy [4,5].
Methods.
In the process of preparing the article were used formal-logical, specific research
methods econometric modeling, empirical research, and forecasting
Results.
Internal control has been established at the joint venture UZTEX TASHKENT LLC.
Internal control in the joint venture UZTEX TASHKENT LLC is a continuous process carried out
by its management bodies, divisions and employees, aimed at improving the efficiency of risk
management, control and corporate governance processes to achieve the following objectives:
1. Efficiency and effectiveness of financial and economic activities in the implementation of
activities and other transactions in the enterprise, the effectiveness of asset and liability
management, including ensuring the safety of assets, risk management;
2. Ensuring accuracy, completeness, objectivity, as well as information security in the timely
preparation and submission of financial, accounting, statistical and other reports;
3. Observance of normative-legal documents, constituent and internal documents of the enterprise;
4. Involvement of the enterprise and its employees in the implementation of illegal activities,
including the legalization of proceeds from crime, the exclusion of terrorist financing, as well as
the timely submission of information to the relevant state bodies;
INTERNATIONAL MULTIDISCIPLINARY JOURNAL FOR
RESEARCH & DEVELOPMENT
SJIF 2019: 5.222 2020: 5.552 2021: 5.637 2022:5.479 2023:6.563 2024: 7,805
eISSN :2394-6334 https://www.ijmrd.in/index.php/imjrd Volume 12, issue 04 (2025)
205
Internal control system is a system of organizational structure, control measures, internal control
practices and methods, which ensures compliance with the procedure for achieving and achieving
goals on the basis of the legislation of the Republic of Uzbekistan, the Charter and internal
documents of the enterprise;
"The system of internal control bodies is a set of governing bodies, its divisions and responsible
employees performing their functions within the internal control system."
At the joint venture UZTEX TASHKENT LLC fixed assets are accounted for in kind and in value.
If the natural valuation of fixed assets allows to solve the problem of technical re-equipment and
modernization of production, to create graphs for their repair by groups and types, as well as to
determine the need for repair tools, the valuation of fixed assets production planning, determining
their available volume, determining the amount of depreciation, analysis of the level of use of
fixed assets and production capacity, and so on.
The joint venture UZTEX TASHKENT LLC has the following methods of valuation of fixed
assets: at cost - a set of costs incurred for the creation or purchase of fixed assets, related to the
commissioning of fixed assets or their individual parts - their delivery, installation, etc. cost
incurred taking into account costs.
For example, the initial cost of a machine or equipment is the purchase price at which the entity
purchased the machine or equipment on a particular date and recorded it in the accounting records.
In terms of recovery value - an assessment of fixed assets or any part of them (buildings,
equipment, machinery, production equipment, etc.) taking into account current inflation and other
factors. This method of valuation shows how much an object will cost in the current recycling
period. The replacement value of an enterprise’s fixed assets is realized during inspections and
inventories, and nationwide and as a government measure, during the revaluation of fixed assets
[6,7].
“Residual value is an estimate of the difference between the original and replacement values,
taking into account the depreciation of fixed assets. In other words, this is the part of the fixed
assets that has not yet been transferred to the products being produced. Fixed assets that are not
used by enterprises and are intended to be written off or sold are often measured at residual value
at current prices. ”
Due to the globalization of the economy and the improvement of accounting and reporting,
including bringing national accounting standards up to world standards, although fixed assets
have long been used as a monetary expression of fixed assets, terms such as "fixed capital" and
"fixed assets" are now widely used.
Analysis.
Objectives of the analysis of the financial condition of the joint venture UZTEX
TASHKENT LLC: implementation of the financial plan, correct or incorrect distribution and
correct or incorrect use of funds, determination of self-sufficiency of the farm, compliance with
working plans and accounting discipline, bank loans use, the ability of the farm to pay, the study
of the turnover of working capital.
Objectives of the analysis of the financial condition of the enterprise: the implementation of the
financial plan, the correct or incorrect allocation of funds and their correct or incorrect use, the
determination of the farm's own funds, compliance with working plans and accounting discipline,
use of bank loans, repayment of the farm ability is to study the turnover of working capital. (Table
1)
1 - table
Analysis of economic indicators of the joint venture UZTEX TASHKENT LLC for 2017-
2019
№
Indicators
Unit
of
measurement
2017
2018
2019
INTERNATIONAL MULTIDISCIPLINARY JOURNAL FOR
RESEARCH & DEVELOPMENT
SJIF 2019: 5.222 2020: 5.552 2021: 5.637 2022:5.479 2023:6.563 2024: 7,805
eISSN :2394-6334 https://www.ijmrd.in/index.php/imjrd Volume 12, issue 04 (2025)
206
1.
Product
production
capacity
thousand soums
151200,0
198720,0
237910,0
2.
Products sold
thousand soums
145678,0
178910,0
214567,0
3.
Production cost of the
product
thousand soums
125672,3
156768,9
198674,5
4.
Profit before tax
thousand soums
94567,9
98678,9
100456,7
5.
Net profit
thousand soums
75654,3
78943,1
80365,4
6.
The value of fixed assets thousand soums
98867,0
98867,0
100567,7
7.
Capital investments
million soums
45367,0
48767,5
51234,6
8.
Number of employees
person
30
32
35
including
industrial
production personnel
person
25
27
30
9.
Average salary
thousand soums
280,0
345,0
457,0
Table 1 shows that the volume of production in 2017 amounted to 151200.0 thousand soums, and
in 2019 - 237910.0 thousand soums. The main source of financial analysis is the balance sheet. At
the same time, financial plan data and current accounting data are used.
Table 2
Analysis of economic and financial performance of the joint venture UZTEX TASHKENT
LLC in 2019
№
Indicators
Unit
of
measurement
Plan
Real
Execution of the
plan, percent
1.
Product
production
capacity
thousand soums 213457,8
237910,0
111,4
2.
Revenue from product
sales
thousand soums 320186,7
321850,5
100,5
3.
Total production costs
million soums
204323,5
219674,5
107,5
4.
Production cost
thousand soums 185067,9
198674,5
107,0
5.
Necessary benefits
thousand soums 19255,6
21000,0
109,0
6.
Net sales revenue
thousand soums 115863,2
102176,0
88,2
7.
Production
cost
of
goods sold
thousand soums 142345,8
134587,9
94,5
8.
Sales costs
thousand soums 9450,0
10800,0
114,3
9.
Administrative
expenses
thousand soums 9805,6
10200,0
104,0
10. Gross profit
thousand soums 109890,7
100456,7
91,4
11. Income tax
thousand soums 21978,1
20091,3
91,4
12. Net profit
thousand soums 87912,6
80365,4
91,5
13. Sales profitability
%
34,3
31,2
-
14. Net sales profitability
%
27,4
25,0
-
15. Production profitability %
41,2
34,0
-
Table 1 shows that in the limited liability company UZTEX TASHKENT LLC increased
production by 11.4% of planned tasks, revenue from sales by 0.5%, total production costs by
7.5%, production costs by 7.0%. led to an increase in interest. In 2019, the company's sales costs
INTERNATIONAL MULTIDISCIPLINARY JOURNAL FOR
RESEARCH & DEVELOPMENT
SJIF 2019: 5.222 2020: 5.552 2021: 5.637 2022:5.479 2023:6.563 2024: 7,805
eISSN :2394-6334 https://www.ijmrd.in/index.php/imjrd Volume 12, issue 04 (2025)
207
amounted to 10,800.0 thousand soums, an increase of 14.3% over the plan. The plan of
administrative expenses in 2019 is set at 9805.6 thousand soums.
In fact, this figure amounted to 10,200.0 thousand soums, an increase of 4.0%. According to the
data, the company's gross profit plan was fulfilled by 8.6%.
Table 3 provides an analysis of production and sales of products in the limited liability company
of the joint venture UZTEX TASHKENT LLC in 2017-2019.
Table 3
«Analysis of production and sales of products at the joint venture UZTEX TASHKENT
LLC in 2017-2019
№
Indicators
Unit
of
measurement
2017
2018
2019
1.
Product production capacity
thousand
soums
151200,0
198720,0
237910,0
2.
Consumer goods
thousand
soums
151200,0
198720,0
237910,0
3.
The volume of products sold
thousand
soums
145678,0
178910,0
214567,0
4.
Finished goods stocks
million soums
5522,0
19810,0
23343,0
The data in Table 3 show that in 2019, compared to 2018, the volume of production at the
enterprise increased by 157.3%, consumer goods - by 157.3%, sales - by 147.2%.
The main tasks of the analysis in the analysis of the level of profitability are: to identify and study
the main factors that affect the level of profitability;
The tasks of the analysis of indicators of the financial condition of the enterprise are defined in the
use of the level of working capital to determine the implementation of the financial plan, the
correct allocation and use of funds, the level of self-sufficiency[1,2].
The main purpose of the study of compliance with plans and accounting discipline, the use of
bank loans, etc., is to identify deficiencies in the financial performance of the enterprise and
identify opportunities for effective use of funds.
The analysis of the financial ratios of the joint venture LLC UZTEX TASHKENT LLC for 2017-
2019 is given in Table 2.2.5.
We now turn our attention to financial ratios. The solvency ratio and the ratio of equity and debt
were higher than the established norm. Financial independence and capacity utilization ratios are
within the norm. Hence, the enterprise is liquid.
Table 4 provides an analysis of the company’s 2019 operating costs.
Table 4
Analysis of production costs of the joint venture UZTEX TASHKENT LLC in 2019
№ Indicators
Unit
of
measurement
Accordin
g to the
plan
Real
Execution of
the
plan,
percent
1.
Product
production
capacity
thousand soums 213457,8
237910,0
111,4
2.
Total production costs thousand soums 204323,5
219674,5
107,5
1
Information obtained from the annual reports of the joint venture UZTEX TASHKENT LLC
2
Information obtained from the annual reports of the joint venture UZTEX TASHKENT LLC
INTERNATIONAL MULTIDISCIPLINARY JOURNAL FOR
RESEARCH & DEVELOPMENT
SJIF 2019: 5.222 2020: 5.552 2021: 5.637 2022:5.479 2023:6.563 2024: 7,805
eISSN :2394-6334 https://www.ijmrd.in/index.php/imjrd Volume 12, issue 04 (2025)
208
3.
Production cost
thousand soums 185067,9
198674,5
107,0
4.
Necessary benefits
thousand soums 19255,6
21000,0
109,0
5.
Current expenses
thousand soums 19255,6
21006,0
109,1
According to Table 3, the volume of production was set at 213457.8 thousand soums according to
the plan, but in reality this figure was 237910.0 thousand soums. Reja
24452.2 thousand soums more or 111.4%. Execution of the plan of total production costs at the
enterprise was 107.5%, and production costs were 107.3%. The required profit of the enterprise
was fulfilled by 109.0% compared to the plan.
It should be noted that the cost of production is a key indicator of efficiency in enterprises. It
provides for the level of efficiency in the use of costs, labor productivity, wages paid to workers,
the use of fixed assets, raw materials. The ratio of the cost of production is important in the
process of processing the economic report of enterprises.
The company's strategy in recent years is to further fill the consumer market and increase the
welfare of the population. The analysis of the socio-economic indicators of the enterprise shows
that due to the large-scale modernization work carried out at the enterprise, it was able to create
new jobs.
Discussion.
The state independence of Uzbekistan has opened a new page in the development of
the national economy. In the process of technological modernization and technical re-equipment
of production, great importance was attached to the establishment of an effective control system.
The reason is that control is an important task related to the quantitative and qualitative
assessment of the results of the enterprise. It will consist of a feedback system, the purpose of
which is to ensure that the goals set by the organization are achieved.
Control is a system of various district measures for setting standards and comparison base,
researching system entries, organizing comparison of results with normative base, determining
deviations and their permissible level, as well as final measurement of results.
Control is a feedback process, i.e. the quantitative measurement of the results at the input to the
system is associated with the evaluation of the parameters at the output and the external and
internal environmental factors. For example, the relatively low profitability of implementing
innovations as planned is explained by the following.
a) insufficient research of the market, the result of which is the volume of sales, and improper
marketing measures;
b) a decrease in the consumption characteristics of innovations due to the receipt of worse raw
materials, errors in compliance with production procedures, violations of technical control;
c) Excessive production costs, which leads to an increase in the cost of innovation, etc [8,9].
The implementation of control over the development of innovation puts forward a number of
conditions:
• Existence of organizational structures of control.
• Formation of executive bodies and services.
• Special training of staff;
• development of methods of analysis and forms of control;
• expanding the regulatory, methodological and information base.
The types of control used in the activities of the enterprise are divided by the purpose, scope,
forms, objects, objects, methods of control.
Control will again be initial, current, and concluding. The first is carried out before the actual start
of work, where standards are set, the extent of permissible deviations is determined, and so on.
The control carried out at the stage of the economic process is called current. Its task is to
promptly identify deficiencies in the performance of business operations and production tasks and
INTERNATIONAL MULTIDISCIPLINARY JOURNAL FOR
RESEARCH & DEVELOPMENT
SJIF 2019: 5.222 2020: 5.552 2021: 5.637 2022:5.479 2023:6.563 2024: 7,805
eISSN :2394-6334 https://www.ijmrd.in/index.php/imjrd Volume 12, issue 04 (2025)
209
their timely prevention. The final inspection is carried out after the work is completed. The results
obtained are compared with those envisaged.
The basic principles to be followed in the implementation of control can be distinguished:
- strategic orientation of control;
- results-oriented control;
- timeliness of control;
- flexibility of control;
- transparency of control;
- effectiveness of control.
The main tools of the control function are observation, comprehensive inspection, accounting and
analysis of activities. In the general process of management, control is an element of feedback,
because according to its data, amendments are made to previously made decisions, plans and even
norms, norms. Effective control must, of course, have a strategic direction, target results, and be
simple enough. The latter requirement is especially important in the current context, as the
organization is now trying to approach its work on the principle of trusting people, which leads to
the need and opportunity to significantly reduce the control tasks performed directly by the
manager. Under these conditions, control is smoother and more economical.
In order to effectively control the joint venture UZTEX TASHKENT LLC and avoid unexpected
negative consequences of control, the following suggestions were made to managers:
-development of standards that employees understand;
- establishment of bilateral relations;
- Avoidance of excessive control;
-rewards for achieved standards.
For control to be effective, it must be strategic in nature, that is, it must recognize and support the
overall value of the organization.
Reference
[1]. DJURABAEV O. Formation of model beekeeping facilities and modernized interindustrial
communications in human bearing management //Архив научных исследований. – 2020. – №.
11.
[2]. Djurabaev O. Methods of the process approach in management and determination of the
criterion of technological efficiency of beekeeping farms: methods of the process approach in
management and determination of the criterion of technological efficiency of beekeeping farms //
Archive of scientific research. - 2021. - T. 1. - No. 1.
[3].
Saidov M. Increasing Management Efficiency in The Electricity Sector of Uzbekistan //The
5th International Conference on Future Networks & Distributed Systems. – 2021. – С. 343-347.
[4].
Saidov M. S. Analysis of the economic activities of natural monopoly organizations
//Инвестиции, градостроительство, недвижимость как драйверы социально-экономического
развития территории и повышения качества жизни населения. – 2022. – С. 74-79.
[4].
Munira A. Analysis methods of the factors influencing on consumer market //Бюллетень
науки и практики. – 2018. – Т. 4. – №. 2. – С. 276-282.
[5].
Shanazarova G. Features of innovative management strategy of the automotive industry of
Uzbekistan //Архив научных исследований. – 2019.\
[6].
Yaxyayeva I. Енгил саноат корхоналарида маҳсулот рақобатбардошлигини ошириш
йўналишлари //Архив научных исследований. – 2019.
[7]. Саидов Машъал Самадович (2023) Электр энергетика тармоғини тартибга солиш ва
бошқаришнинг
иқтисодий
хусусиятлари.
Iqtisodiyotva
ta'lim
/
2023-yil
1-
son.
INTERNATIONAL MULTIDISCIPLINARY JOURNAL FOR
RESEARCH & DEVELOPMENT
SJIF 2019: 5.222 2020: 5.552 2021: 5.637 2022:5.479 2023:6.563 2024: 7,805
eISSN :2394-6334 https://www.ijmrd.in/index.php/imjrd Volume 12, issue 04 (2025)
210
[8]. Saidov Mash'al Samadovich, Hasanov Abdumukhtar Azizalievich (2023) Institutional
Characteristics of the Regulation of Natural Monopoly Fields. International Journal of Business
Diplomacy and Econom. ISSN: 2833-7468Volume 2| No 3| March-2023.
publishing.com/index.php/ijbde/article/view/1333/1141
[9]. Саидов Машъал Самадович (2023) Электр энергетика тармоғини бошқаришдаги
муаммолар ва уларни бартараф этиш йўллари. “Iqtisodiyot va innovatsion texnologiyalar”
(Economics and Innovative Technologies) ilmiy elektron jurnali. 1/2023, yanvar-fevral (No
00063).
https://iqtisodiyot.tsue.uz/journal/index.php/iit/article/view/195/228
