Authors : Alimbekova Gaukhar, Baidildina Adilya and Dzhakisheva Urazgul
Abstract: The study deals with the main approaches to find ways of financial recovery and prevent bankruptcy. In particular, consideru: strategic orientation of financial recovery; the causes of the bankruptcy and the crisis situation in the world; implementing and crisis management; factors that not only have a direct impact on the financial position and financial stability and destroy the enterprise; diagnostic activities of the company; the necessity for a financial analysis using a specific set of indicators; choice of tactics out of the crisis; additional search path to prevent bankruptcy and restore solvency of enterprises. Developed measures of crisis prevention and bankruptcy at every stage of crisis management. It is recommended to introduce, develop and continuously improve the practices of crisis management which is widely used abroad. A procedure for the diagnosis of bankruptcy and proved that such a financial crisis prevention measure in the enterprise requires, first of all, to establish a mutual commitment and trust between management and stakeholders (customers, suppliers, creditors, shareholders, investors, government control and regulation). Also, as a scientific novelty, the researcher developed the formula for calculating the coefficient of efficiency of financial recovery, the practical application of which will help not only to choose effective methods and tools out of the current crisis, to determine the feasibility of their implementation and cost of the process of financial recovery.
Alimbekova Gaukhar, Baidildina Adilya and Dzhakisheva Urazgul, 2017. Ways of Financial Recovery and Prevent Bankruptcy. Journal of Engineering and Applied Sciences, 12: 653-659.