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TYPE
Original Research
PAGE NO.
5-7
OPEN ACCESS
SUBMITED
09 December 2024
ACCEPTED
11 January 2025
PUBLISHED
13 February 2025
VOLUME
Vol.05 Issue02 2025
COPYRIGHT
© 2025 Original content from this work may be used under the terms
of the creative commons attributes 4.0 License.
Modeling of The Analysis
of The Financial State of
The Business Entity
Yakubov Ulugbek Kasimovich
Tashkent State Economic University, Professor of the Department of
Financial Analysis, Doctor of Economic Sciences, Professor, Uzbekistan
Abdullaev Abror Bozarboevich
Tashkent State Economic University, Associate Professor of the
Department of Financial Analysis, Ph.D., Uzbekistan
Abstract:
The World Bank predicts that Uzbekistan's
economy grows by 5.3 percent in 2024, according to the
World Bank's new report "Review of European and
Central Asian Economies". According to the report,
economic growth is mainly due to the continuation of
structural reforms. In particular, making large
investments in the development of the energy industry
has an impact on restructuring of state-owned
enterprises and privatization of their assets.
Acceleration of productivity growth in economic sectors
is considered as an important factor in ensuring stable
forecast indicators of the country.
Within the framework of the tasks defined in the decree
of the President of the Republic of Uzbekistan No. DP-
158 of September 11, 2023 The Strategy of "Uzbekistan
- 2030", in order to double the size of the economy by
2030 and "to increase its income from the average in
terms of entering the ranks of "high countries", it is
important to increase the productivity of 688,345 (as of
January 1, 2024) (excluding farms and agriculture)
enterprises and organizations operating in the country
and their financial stability.
Keywords:
Republic of Uzbekistan, Financial State,
Uzbekistan's Economy.
Introduction:
In the new report of the World Bank
"Review of the economies of Europe and Central Asia",
the slowing down of foreign trade, acceleration of the
attraction of large investments, slowing of inflation, and
increase in financial obligations were found to be
important factors in the growth of macroeconomic
indicators in the country. The mentioned factors directly
affect the financial condition of economic entities.
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Journal of Management and Economics
In the "Regulations on the analysis of the financial and
economic situation of state-owned enterprises"
approved by the Resolution of the Cabinet of Ministers
of the Republic of Uzbekistan No. 1013 of December
14, 2018, mainly the attention is paid to the solvency
or coverage ratio; coefficient of provision with own
working capital; the profitability ratio of assets and
expenses.
The Resolution of the Cabinet of Ministers of the
Republic of Uzbekistan No. 207 of July 28, 2015, "On
the introduction of criteria for evaluating the efficiency
of the activities of joint-stock companies and other
economic entities with a share of the state" focused on
the effectiveness of financial and partial management
indicators.
In the economic references, the financial state of
enterprises is approached based on the system of
indicators representing the financial state based on the
laws and regulations, or on the basis of the 08.00.00-
Economic sciences based on their specialization. In
particular:
Prof. M. Pardayev: - "Financial potential (potential) of
the enterprise is defined as a set of financial funds from
various sources that fully support its activities";
Prof. A.Vahobov and T.Malikov: - noting that the
general financial state of the country is determined by
the financial condition of these enterprises, to
determine the financial condition of the enterprise.
Moreover, liquidity, the indicator of the provision of
current assets with their own working capital and other
criteria were cited.
The financial condition of economic subjects was
evaluated by foreign scientists based on models such
as Altman, Zavgren, Lees, Tafler and Tishou, Olson,
Fulmer, Springate, Conan Galder, Beaver.
RESULTS
Based on the description given to the financial stability
of the enterprise in the normative frameworks and
economic literature, it can be noted that this concept
is comprehensive. However, the system of indicators
representing the financial state is embodied in the
general indicators of balance sheet (report on the
financial condition) regardless of which direction it is
viewed from. Based on the theoretical point of view,
the econometric relationship of the assets and their
sources of origin and financial results of the joint stock
company "Norin cotton ginning" was studied (located in
Namangan region, Norin district). In the course of the
study, the relationship of 13 financial indicators with net
profit was analyzed. According to the results of the
analysis, the indicators related to the four balance
sheets (financial state) and financial results (profit and
loss) of the joint-stock company "Norin cotton ginning"
are taken as a basis.
DISCUSSION
Tahlil natijalariga binoan, subyektning moliyaviy
holatiga
buxgalteriya
balansi
(moliyaviy
holat
to‘g‘risidagi hisobot) va moliyaviy natijalarini ifodalovchi
quyidagi ko‘rsatkichlarining ekonometrik bog‘liqligi
o‘rganildi:
According to the results of the analysis, the econometric
dependence of the following indicators representing the
financial condition of the entity (statement of financial
position) and financial results were studied:
1
Fixed Assets (X1);
2
Depreciation of the fixed assets (X2);
3
Intangible assets (X3);
4
Depreciation of the Intangible assets (X4);
5
Other long-term assets (X5);
6
Funds (X6);
7
Accounts receivable (X7);
8
Commodity (X8);
9
Private equity (X9);
10
Long-term loans and debts (X10);
11
Short-term loans and debts (X11);
12
Accounts payable (X12);
13
Profit from product sales (X13);
14
Net profit (Y).
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Journal of Management and Economics
According to the results of the study, the correlation of
private capital, receivables, profit from product sales,
other long-term assets with net profit meets the
specified requirements, the effect of X1, X2, X3, X4, X6,
X8, X10, X11, X12 on the outcome measure Y was
estimated inversely.
CONCLUSION
Based on the relationship between the financial
indicators of the economic entity, the following
dependence was established:
Y=-0.156233X9+0.019033X7+0.0440823X13-
0.0899633X5+198465.9
Based on the correlation of the results with the factors,
it should be noted that the increase of private capital
and other long-term assets by one unit decreases the
net profit by -0.156233 and 0.0899633 coefficients,
respectively. It was found that an increase in
receivables and profit from product sales by one unit
increases net profit by 0.019033 and 0.0440823
coefficients, respectively.
REFERENCES
Appendix 2 of the Resolution of the Cabinet of
Ministers of the Republic of Uzbekistan No. 1013 of
December 14, 2018 "Regulations on the analysis of the
financial and economic condition of state-owned
enterprises".
Resolution No. 207 of the Cabinet of Ministers of the
Republic of Uzbekistan dated July 28, 2015, "On the
introduction of criteria for evaluating the performance
of joint-stock companies and other economic entities
with a state share."
Pardaev M.Q., Israilov B.I. Economic analysis. Study
guide. Part 1. - T.: "World of Economics and Law", 2001.
- p. 115.
Vahobov A.V., Malikov T.S. Finance. Textbook. -
Tashkent: "Noshir", 2012. Page 712.
K.R. Subramanyam “Financial statement analysis”,
eleventh edition Published by McGraw-Hill Education, 2
Penn Plaza, New York, NY 10121. Copyright © 2014 by.
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