METHODS OF THE ANALYSIS OF THE DEBTS RECEIVABLE: MODERN ASPECT

Nowadays one of the most important questions of the financial accounting is not only accounting but the analysis of debts receivable as well. The results of the analysis can influence the financial condition, competitiveness, volume and structure of the money stock and velocity of the enterprise cash circulation. The efficiency of management of debts receivable of the economic entity depends on carrying out of its substantial and systematic analysis. The importance of the debts receivable analysis increases in the period of inflation, when the immobilization of the own funds becomes quite unprofitable. The analysis of the economic publications concerning the question of the debts receivable analysis has been conducted in the article, the methods of estimation of its condition and quality have been considered. In the process of making management decisions there are unsolved questions concerning the debts receivable analysis and it testifies to the necessity of improvement of its analysis methods and further development. Proper and timely analysis of debts receivable will allow to make efficient management decisions as for paying back the debts and to predict timely cash revenues.

Statement of the problem and its connection with important scientific and practical tasks. Nowadays one of the most complicated and contradictory questions of methods and organization of the economic analysis is the analysis of debts receivable, which influences determination of the real financial condition of the economic entity and is connected with existing of the problem of nonpayments.
Debts receivable can actively influence the volume and structure of monetary stock, paying circulation, velocity of cash movement. Sharp increase of debts receivable and its part in the production assets can testify to indiscreet credit policy of the enterprise concerning customers or insolvency and bankruptcy.
That's why one of the most important conditions of liquidity and paying capacity of the necessary level is the analysis of debts receivable and that's one of the factors of influence on the volume of the enterprise profit and risks which are connected with it. The importance of the debts receivable analysis increases in the period of inflation, when immobilization of the personal cash becomes very unprofitable. With this purpose it is necessary to carry out constant monitoring of the debts, to present claims timely concerning arisen debts and to prevent their appearance in the future.
The analysis of the latest publications on the problem. The question of methodology of accounting and analysis of debts receivable is treated by the following domestic scientists, namely: L.A. Lakhtionova, P.Yu. Buryak, I. Blank Forming of the aims of the research. The aim of the article is investigating of the methods and system of indices for carrying out the analysis of the debts receivable at the enterprise. Analysis of the main researches and publications.
Giving an account of the main results and their substantiation. One of the most important components of financial and economic activity of an enterprise is debts receivable.
According to the standards of Accounting 10 "Debts receivable", the sum of debts of the debtors to the enterprise by the certain date is called debts receivable [2].
Debts receivable occur as a result of the calculations of an enterprise with customers, suppliers, financial bodies, clients, employees. Its major part in the general structure of liquid assets reduces financial stability, liquidity of an enterprise and increases risk of financial losses. The scientist Ph. Ph. Butinets considers that presence of large volumes of debts receivable causes low paying capacity of an enterprise [4]. Receiving less money by debts receivable is one of the problems of its management. With the help of such management one can influence the volume of the enterprise revenue and risks connected with it.
In the process of accepting management decisions, the whole chain of unsolved questions, concerning the debts receivable analysis, has been revealed. It testifies to that fact that the analysis methods require further development and perfection. In the conditions of inflation debts receivable for buyers is a source of crediting of their activities on a very profitable basis, because it acts as a noninterest bearing credit. As a result it's necessary to apply efficient management activities directed to regulating of its value.
Value and dynamics of debts receivable determine the character of management decisions in producing and economic activity. Debts receivable is related to highly liquid assets. Insufficient evaluating of the real condition of calculations with debtors can negatively affect the real estimation of paying capacity and lending capacity of an enterprise. Management of debts receivable and the analysis of its condition is of great importance for the normal functioning of the economic entity.
The analysis of debts receivable is carried out for giving information to the consumers for making management decisions. For making the analysis, the traditional methods, procedures are used, the analytical indices are calculated and it's necessary to give them economic interpretation. The source of the debts receivable analysis is the forms of the financial accounting of the enterprise: Balance Sheet (Report about the financial condition of the enterprise), Report about financial results (Report about the total income), Notes to the annual financial statement; the data of the analytical and synthetic accounting; standard and methodical documents on accounting, inventory, records, control; internal reporting The main task of debts receivable analysis is studying and estimation of [13]: -composition and structure of debts receivable; -part of debts receivable in the sum of current assets; -its reality (truthfulness); -correctness of drawing up of debts receivable; -indices of quality and liquidity of these debts; -influence of debts receivable on financial results of the enterprise activity; -search of the ways of acceleration of debts receivable circulation; -efficiency of the financial resources put into it. Different views concerning carrying out of the economic analysis of debts receivable in the process of making management decisions have been determined by the scientists. On the basis of the analysis of the scientific works we can determine the most urgent problems of debts receivable accounting [7]: 1. The problem of organization of debts receivable accounting and its place in the accounting policy.
2. The problem of the real estimation of debts receivable.
3. The problem of forming and accounting of the reserve of doubtful debts.
4. The problem of studying the reasons of occurring of every type of debts receivables.
5. The problem of development of coordination of the enterprise credit policy.
Approaches, concerning the methods of carrying out the economic analysis of debts receivable by some scientists economists are given in Table 1.
The drawbacks, given in table 1, testify to the methods of the economic analysis of debts receivable at the enterprise, it means that it's necessary to further develop it and perfect.
The debts receivable analysis is carried out following certain rules, techniques, procedures, methods and determined sequence for its fulfillment. All of these form methods for carrying out the analysis (Figure 1).

ISSN 2312-847X
ЕКОНОМІКА ХАРЧОВОЇ ПРОМИСЛОВОСТІ Том 10, Випуск 3/2018 The methods of carrying ont, the economic analysis of debts receivable Drawbacks Andreyeva G.I. [3] Suggests five stages of the debts receivable analysis: -at the first stage the level of the enterprise current debts receivable and its dynamics is evaluated; -at the second stage the middle period of collection of the current debts receivable is determined as well as the amount of its circulations for the period which is analysed; -the third stage of the analysis estimates the composition of the current debts receivable by its separate "age groups", that is according to the corresponding periods of its collection; -at the fourth stage the composition of the overdue debts receivable is considered, doubtful and hopeless debts is determined with the help of calculation of certain indices; -at the last stage the effect, received form investment of the means into debts receivable.
There is no comparison of the volumes of debts receivable and credit indebtedness Blank I. A. [5] -the Analysis of debts receivable in the past period; -forming of the principles of credit policy concerning customers; -forming of the debts receivable parameters, according to the chosen type of credit policy; -forming of the standards of customers estimation and differentiation of the terms of allocation of credit; -forming of the procedure of debts receivable collection, which foresees development of the ways of liquidation of debts receivable, the terms of which are exceeded; -providing of application of the modern kinds of refinancing of debts receivable at the enterprise, which accelerate its transforming into the money form of liquid assets; -construction of the efficient control system watching movement and timely debts receivable collection.
The ways of balancing of the enterprise credit policy haven't been found Gnatenko Ye.P. [6] -analysis of the debts receivable dynamics; -analysis of the structure according to the terms and types of occurrence for revealing overdue and hopeless debts; -comparative analysis with credit indebtedness.
The problem of studying the reasons of occurence of every type of debts receivable, resulting from the concrete situation at the enterprise.
Demkovich А.А. [8] -the condition of calculations between debtors and the causes of their occurence are studied.
-carrying out the analysis of calculations, checking the debts by the terms of their occurence A rather common algorithm of debts receivable analysis has been given Melnick А.Ye., Sorokopud О.О. [11] -estimation of the financial condition and the debtors paying capacity is proposed.
-estimation of personal money presence at the enterprise and revealing the possibility of withdrawal of certain money supply from the circulation in the process of fulfilment of economic activity; -analysis of debts receivable existence and determining of the value of possibility of its liquidation by a debtor; -calculation of the relation of credit indebtedness and debts receivable.
The specific gravity of debts receivable in the sum of liquid assets of the enterprise and the specific gravity of doubtful debts receivable in the total sum of debts receivable are not determined.
Savitska G.V. [12] -analysis of the causes of debts receivable change.
-estimation of its quality and liquidity.
-velocity of debts receivable collection.
-losses from its tardy liquidation.
The analysis of credit indebtedness and development of concordance of credit policy of the economic entity concerning debts management are absent.
Yedynak T.S. [9] -analysis of the structure and dynamics of debts receivable; -classification of the debts types for its efficient management; -determining of the reserve sum of doubtful debts.
The problem of diversification of the production buyers, severe planning of debts, Its constant monitoring and application of the modern types of its refinancing *Composed by the authors on the basis of [3; 5; 6; 8; 9; 11; 12]

Methods of carrying out the debts receivable analysis
The first stage Horizontal and vertical analysis (estimation of its composition, structure and dynamics); The analysis of indices, which characterize the condition of debts receivable (the turnover ratio, middle period of liquidation, share in general volume of current assets, share of overdue debts receivable and so on ); Establishing of the importance rating of separate components of debts receivable; Determining of assorted groups of goods, on which the largest share in the structure of debts receivable falls; Factor analysis of debts receivable;

Final stage
Generalization of the analysis data and making proper management decisions which give possibility to decrease the level of debts receivable and contribute to increase of efficiency of the enterprise activity.
Determining of the object of the analysis object The analysis tasks ISSN 2312-847X ЕКОНОМІКА ХАРЧОВОЇ ПРОМИСЛОВОСТІ Том 10, Випуск 3/2018 The methods of carrying out the analysis give possibility to estimate the real condition of debts receivable and reveal unrealized profits of the enterprise, strengthen its financial condition, increase stability and efficiently control cash earnings at the expense of debts receivable liquidity.
However, the analysis of debts receivable condition in the system of the enterprise management includes external and internal analysis, revealing of risks and threats concerning default, determining of the average value of debts receivable, its share in the total sum of liquid assets of the enterprise, estimation of debts receivable with the terms of liquidity, etc.
We share the opinions of the scientists: Savitska G.V, Gnatenko Ye.P., Melnik A. Ye. and think that for the efficient management of the economic entity it is necessary not only to carry out the quantitative analysis of indices of the current situation estimation and strategically important perspectives of management of the enterprise assets but also its expedient to apply the qualitative analysis of debts receivable, which is the most important stage of the methods of its analysis fulfilment.
Its main task is revealing of the types of production, by which there are the largest debts receivable for goods, works, services of the most important clients (customers, agents, suppliers) of the enterprise, the main types of production.
The methods of calculation of debts receivable indices are based with observing standards of the National Standard of Accounting No. 1 "General Requirements to the Financial Statements" [1]. With the help of the forms of the financial statements (form number 1 and form number 2) it's possible to calculate generalizing indices that characterize the condition of debts receivable at the enterprise.
The methods of estimation of the condition and quality of debts receivable at the enterprise, which characterize the condition of debts receivable for a certain period, are given in Table 2. The analysis of calculations on the basis of the given coefficients should be carried out in dynamics, that is the results of indices for the period under review are compared to the results of the previous period. More significant increase of debts receivable always threatens the financial stability of the enterprise and requires attraction of the additional sources of financing.
The given type of analysis will show the condition of debts receivable of the economic entity for the analyzed period and also gives the possibility to determine the main tasks of management policy of debts receivable.
Conclusions and prospects of the further investigations. So, the analysis of the economic publications concerning the question of the analysis of debts receivable has been carried out in the article; the methods of its condition estimation and quality estimation have been considered. The approaches concerning the methods of carrying out the economic analysis of debts receivable, which are proposed by different scientists economists have been investigated and their drawbacks have been pointed out. The methods of carrying out the analysis of debts receivable at the enterprises and the methods of the estimation of condition and quality of debts receivable have been considered.
Solving many problems will significantly improve the organization and methodology of accounting and analysis of settlements with debtors. The efficiency of management of accounts receivable of economic entities depends on a thorough and systematic analysis of it. Correct and timely analysis of accounts receivable will allow to make effective management decisions on debt repayment and foreshadow timely receipt of funds.