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December 2020 (published: 17.12.2020)
Home > Issue > Improvement of financial planning of the oil and gas industry under the pandemic
Improvement of financial planning of the oil and gas industry under the pandemic
The problems of modern companies determine the trends towards disclosing and studying the financial position of economic entities in order to timely identify the factors of newly emerging threats. Evaluation of these factors implies high technologies, taking into account the importance of laws and tasks that depend on external and internal factors. The formation and analysis of financial metrics and other indicators related to these technologies allows companies to autonomously track the financial environment. Financial planning and financial position are often viewed partially and as a whole, not only as an expression of the values of individual indicators, but also as their overall assessment. On the basis of this assessment, the ability of an economic entity to self-development is determined, as well as resources and opportunities for their use are determined. The object of research in the article is the financial condition of the oil and gas industry enterprise. The subject of the research is the analysis of the oil and gas market and the effectiveness of financial planning. The aim of the work is to study the oil and gas industry, analyze the financial condition based on existing theoretical and practical provisions, and develop recommendations for improving the financial planning of an oil and gas enterprise. The methodological basis of this study is business processes and monitoring the effectiveness of their implementation. The article uses theoretical research methods such as analysis and synthesis, as well as empirical research methods, such as researching information sources. The article examines the oil and gas industry market, analyzes the financial planning of a particular enterprise. Based on the data obtained, recommendations were made on changes in financial planning in order to obtain a more effective result from the company's activities.
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Keywords: oil and gas industry, digital economy, finance, financial planning, accounting.
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