The issues of improving accounting and financial reporting in budget organizations of Azerbaijan are considered. Particular attention is paid to the automation of electronic financial reporting of an enterprise and its presentation to higher-level organizations online, as well as the organization of electronic financial control by treasury bodies, including electronic document circulation between budget organizations and the treasury body.

The article investigates the importance and justifies the necessity of assessing the competitiveness of trade enterprises. The main provisions of the methodology of its evaluation in the audit system are presented. The rankings of trade enterprises are determined by means of the integral indicator of the economic growth rate, the integral estimation of the distance from the standard of the individual factors of the financial condition, and also on the basis of calculation of the operating leverage indicator.

Background. At present, many countries (including Ukraine) emphasize the priority of their strategic course for innovation development of the economy. An integral part of the economy innovation development is the innovation development of its enterprises, which efficiency depends on synthesis between Management of Innovation Development and Strategic Management. Therefore, clarification of the essence and multivariability of innovation development strategies are relevant problems. Analysis of recent research and publications. Problems of enterprises innovation activity (incl. the issues of strategic management of their innovation development) have been researched in the scientific papers of foreign and domestic scholars. The aim of the study is to clarify the nature and classification of innovation development strategies. In accordance with the aim, the following objectives were formulated: to carry out a critical analysis of the existing definitions of the concept of «strategy of innovation development»; to determine the interrelations between the strategy of innovation development, technology-basedand innovative strategies of the enterprise; to systematize scientific approaches to the classification of innovation development strategies, defining their multivariability. Materials and methods. The information base of the research was the scientific publications of foreign and domestic scientists on the issue of the strategic management of enterprises innovation development, and data collected during the survey of managers of Ukrainian enterprises. To achieve the aim and objectives there were used the following methods: system analysis, morphological analysis, comparison method, questionnaire survey. The results of the research. According to the results of the critical analysis of various definitions of the concept of «strategy of the enterprise innovation development», its content is specified. It is proposed in the narrow sense to define the strategy of the enterprise innovation development as a general plan or model of the company’s activities on the market, the realization of which is aimed at achieving the strategic goals of the enterprise innovation development. In the broad sense, a strategy of innovation development has been defined as a general plan or a model of action that will allow to change the state of the enterprise and its competitive position in the strategic perspective through innovations and achievement of strategic goals of its innovation development, setting and realization of which should take place on a scientifically grounded basis that taking into account market opportunities and threats, as well as the existing preconditions for the enterprise innovation development (including the level of its innovation potential and the available intellect capital). The differences and interrelations between the strategy of innovation development, technology-basedstrategy and innovative strategies of the enterprise are determined. It is proved that innovative can be called any completely new strategy for a particular company or enterprise, regardless of the level of management where it is developed and implemented. It is established that the strategy of innovation development is a strategy of business level of management. It is also substantiated that the technology-basedstrategy is developed at the functional level of management in the case of the presence of a special research unit at the enterprise. It is proposed to improve the classification of innovation development strategies and to supplement it with such classification features as the degree of novelty and the type of dominant innovation changes. According to the first classification feature, it is proposed to allocate innovative, simulation and retro-innovative strategies of innovation development. According to the type of dominant innovation changes, the following multivariability strategies are proposed: product-oriented innovation development; process-oriented innovation development; marketing-oriented innovation development; organizationally oriented innovation development and innovation development with a combined orientation, which involves the introduction from two to four types of innovations in the development process (without the dominance of any one type). Conclusions. It is revealed some confusion in modern defining the concepts of «strategyof innovation development» (or «an innovation strategy»), «innovative strategy»and «technology-basedstrategy», which complicates the system of communication interaction in the strategic management of enterprise development. The non-identity of these concepts is substantiated, despite the fact that between them were determined clear direct and indirect interconnections in the process of enterprise strategic management. It is proposed to supplement the existing classification of innovation development strategies, which will help to improve the process of choosing innovation development strategies in practice. The results of the study may be further used to improve the tools for choosing innovation development strategies and to solve other problems of strategic management of enterprises development.

Background. The peculiarities of development of the modern global world due to the processes of neoindustrialization, informatization, the emergence of new technologies and mobile automated high-tech industries, lead to radical changes that shape the modern type of economy of developed countries and have a significant impact on the trade. The aim of the article is to define and justify the world trends of socio-economic development under the influence of the latest stage of the scientific and technological revolution, as well as to identify the peculiarities of the influence of digitalization on the formation of «smart» retail and the characteristics of this process in Ukraine. Results. The world technological trends and peculiarities of socio-economic development under the influence of «industry 4.0» were determined and grounded. The world tendencies of the influence of digitalization on the formation of «smart» retail and peculiarities of this process in Ukraine are revealed. Proposals for ensuring the technological level of trading enterprises in Ukraine are developed taking into account the global challenges and prospects of attracting intellectual potential in the formation of their innovation policy. Conclusions. It is substantiated that today the challenges of global socio-economic development, due to increasing rate of new technologies creation, increase productivity and reduce production costs, increase its customization (adaptation of the mass product to the needs of a particular consumer); accelerates the process of intellectualization and robotics of enterprises, actualizing the tendencies of reducing the time for the introduction of new products based on the concept of open innovation. In the field of retail, the most valuable examples of technology use (both for sellers and for consumers) are those that increase the efficiency in trading experience. «Smart»retail will provide optimization of resources in future will increase the quality of services due to the skillful management of demand and supply, will increase investment activity. And although «industry 4.0» is considered an industry of the future, active realization of its results is carried out today. In order to take a worthy place among the developed countries of the world, domestic retailers need to be actively involved in world processes that are associated with a new trend of economic development. For this there is a need for highly skilled workers, which determines the relevant changes in education and science in relation to the models of training of the relevant specialists, what should be further research.

The article is devoted to the issues of corporate reorganizations in Ukraine and abroad. The ideas of the author relate to comparison of legal support by choosing certain types of corporate reorganizations, their difference between the countries and between each other. The author indicates the peculiarities of each type of reorganizations abroad, their advantages and disadvantages. Recommendations as to solving a problem of lack of corporate reorganization types in terms of managing them in the national legislation have been given. Mergers and acquisitions are considered by the author as the most popular reorganization types, so its scope and significance for Ukrainian economy are presented in figures.

The study focuses on the people of Hyderabad and intends to map out their inclination towards buying the products and services of public and private insurers. A survey was conducted among 200 respondents and the obtained data were treated to find out the perceptions related to various parameters for buying the life insurance policy. The results of data analysis revealed that the respondents used to perceive such policies as a future protection tool and preferred public life insurers over private ones. Among the eight investment options which were supposed to be available to them, life insurance was ranked fourth while first three being bank deposit, real estate, and equity respectively.

Background. The trend towards a slowdown in the growth of the world economy, which prevails after the crisis of 2008–2009, and the strengthening of macroeconomic instability, gives the study of the global development process a special urgency, stimulating the search for new approaches to analyzing and solving these problems. It seems that one of these approaches can be connected with the development of the economic mechanism of the global investment system, which opens new opportunities for regulation of the processes of international development. The aim of the article is to develop the principles of the functioning of the economic mechanism of the world investment system, which allows to solve the problem of the balance between global savings and investments, which hinders the growth of the world economy. Methods and materials. The article are based on modern methodology of macroeconomic analysis of empirical material on global equilibrium and its modern disruption in the process of capital accumulation and the formation of a global surplus of savings. In the methodology of studying the problems of the world investment system, an important place is occupied by the principle of concrete historicism, according to which economic relations, institutions and methods of regulation are specific for each historical epoch. The results of the research. The article considers the theoretical model of a global investment system built on a two-level principle. The lower level of such a two-tier model forms private investments, and at the second, upper level, a development institution is proposed that actually plays the role of a global investment bank. He does not issue loans, but buys shares of new enterprises even before they start to be created. Thus, the system finances the acquisition of machinery, equipment, construction of buildings, structures and the whole process of creating new enterprises, and then, when they start working, sells new enterprises to private hands. In the future, these enterprises can operate on a private-corporate basis and compete with other enterprises in the market. The money received from the sale of the established enterprise is again invested in the creation of new and new enterprises. As a result, there is a closed cycle of circular movement of capital. Such an investment system is capable of providing a vigorous modernization of the economy on the basis of the repeated use of the same initial capital. Conclusion. We come to the conclusion that it is also profitable for the USA to create such an investment system and test it in Ukraine. The most fundamental conclusion is that overcoming the current crisis of globalization must be sought on the way to a new, post-industrial model of global leadership, in the center of which there is a world investment system built on a two-level principle.

Background. Our present is characterized by the rapid development of information technologies that directly and indirectly affect the everyday life. Therefore, every successful company, which directs its activities to outsource competitors by prematurely meeting the needs of customers and creating an innovative product, is required to actively use an online platform to offer and promote a product or service to the market. The popularity of tourism as one of the spheres of economic activity, which is associated with most types of economy and capable of providing jobs, responding rapidly to constant changes in the needs of consumers, promoting the image of the country in the world, is increasing yearly. The global trend of tourism business development is their association in the franchising system and the provision of services on the Internet. At the same time, the imitation of such a tendency for Ukrainian tourism business is hampered by certain problems. This is due, firstly, to the lack of a legislative framework on the conceptual apparatus of franchising, the regulation of franchising relations in Ukraine and its non-compliance with international standards. Secondly, there are gaps in the state regulation of the sphere of Internet services. Accordingly, it is advisable to investigate and analyze the global trends in the development of franchising tourist networks in the virtual space in order to identify the main advantages and disadvantages of their functioning and expediency of development in the domestic market of services. The aim of the studyis analysis of the development of virtual franchising tourist networks in the world market of services, revealing the main advantages and disadvantages of their functioning. Materials and methods. The methodological basis of scientific research was statistical and graphical methods, which in combination allowed analyzing the dynamics of the use of information technology in general and the operation of virtual franchising tourist networks in the world market of services. The basis for research was the work of domestic and foreign scholars and Internet sources. Results. The development of business in the global Internet in different regions of the world is explored; the regular promotion of the use of virtual space for the development of tourist networks, in particular, on the terms of franchising relations, was revealed; the analysis of activity of the main virtual tourist networks on the world market of services was conducted in order to determine the advantages and disadvantages of their functioning. Conclusion. In a highly competitive, fast changing needs of consumers and unstable economic conditions, the tourism market requires businesses adaptive steps, including creation of new businesses that are timely respond to the continued volatility of the environment and be able to compete in the battle for the consumer due to the high flexibility with the smallest investment and financial risks, as well as customer satisfaction in a shorter period than the traditional way of doing business. Such business structures can be virtual tourist enterprises, united in the system of franchising relations.

Background. The development of a modern tourism business in the economic arena of any country in the world is based on the construction of a clear and well-developed system of tourist services. Therefore, the definition of the essence of the promotion of tourism services as an integral system becomes relevant. For such a system, it is important to identify the channels and means by which the promotion of travel services will take place, taking into account current rapid economic changes. Analysis of recent research and publications. A significant contribution to the development of scientific thought on the issues of research was made by domestic and foreign scientists, whose works covered the conceptual foundations of tourist services and offered variants of their distribution system. The aim of the article is to reveal the essence of the process of promoting tourist services as a coherent system. Materials and methods. The basis of the study was the materials of the World Economic Forum in Geneva, 2013 on the competitiveness of tourism business enterprises; scientific works of domestic and foreign scientists, which cover the issues of promotion and marketing of tourism products and services. To achieve the goal, the author used the methods of logical generalization, analysis, synthesis and system method. Results. The author defines the essence of the tourist service in view of the increasing individualization of demand. Their classification has been supplemented taking into account the place and possibilities of their consumption. The definition of «promotion of tourist services»is proposed. The methods of sales of tourist product are analyzed and supplemented. Conclusion. Promotion of own tourism services is of great importance for the successful operation of enterprises in the tourist market. However, their technologies remain unexplored, requiring identification and scientific definition. In the context of existing and new classification features that characterize travel services from the point of view of the place and the possibilities of consumption, the definition of this concept is further developed and has a clear interpretation. The essence of the concept of «promotion of tourism services»covers not only the system of marketing communications, aimed directly at the consumer, but also consists in the development of a set of activities by a tourist enterprise, aimed at the subjects of tourism business (support in the sales process, increased remuneration, concessional terms of cooperation, etc.) to get a leading position in the tourist market.

Background. Strengthening the role of cryptocurrencies as a means of accumulation and means of payment affects the emergence of various risks associated with their mining and transactions with them. As a result, during the last years, the formation of a system of cryptocurrency regulation takes place to prevent threats and minimize the possible negative consequences for the private and public sectors. It determines the relevance of the selected topic. The aim of the article is to study foreign experience in regulating cryptocurrency operations to determine the system of values in the formation of an appropriate domestic regulatory system. Materials and methods. The works of domestic and foreign scholars have become the theoretical and methodological basis of the article. The research was conducted using the methods of theoretical generalization, comparative analysis, analysis and synthesis, which allowed to substantiate the directions of the formation of the regulation system activity in the field of cryptocurrencies in Ukraine. Results. The functioning of the virtual currency regulation system should be based on the principles of transparency, which implies the completeness and accessibility of information for all interested parties; stability, which provides for prevention of crisis situations in the market; consumer rights protection; complementarity, aimed at comple­mentarity of regulatory instruments; monitoring, which provides for the constant control over operations with virtual currencies. At the same time, administrative and economic methods of regulating crypto-currency should be combined. Conclusion. Cryptocurrency control tools vary by regions and countries. Some countries prohibit the circulation of cryptocurrencies, others determined their legal status. At the same time it can be used as solely administrative methods for regulating activities in the field of cryptocurrencies, and their possible combination with economic methods. Cryptocurrencies taxation prevails among economic methods, which is predominantly used in developed countries. As the positive foreign experience shows, it is necessary to develop the principles of regulation of the cryptocurrencies market in Ukraine. This should be based, on the one hand, on compliance with the FATF as to the fight against terrorist financing, the provision of cyber security and tax revenues to the budget, and, on the other hand, compliance with the protection of the rights of consumers of financial services. Therefor it is necessary to establish requirements for the identification of participants in crypto-currency transactions and the licensing of activity of cryptocurrency exchanges. At the same time, it would be advisable to tax the activity with cryptocurrency by personal income tax and corporate income tax coupled with a single social contribution.

Background. The European vector of integration of Ukraine requires the reform of public finance management in the area of the budgetary policy, internal control and external auditing. Article 346 of the Association Agreement between Ukraine and the European Union (EU) stipulates that cooperation in the field of public finance management is aimed at ensuring the development of budgetary policy and sound internal control and external auditing systems based on international standards, and are consistent with the fundamental principles of accountability, transparency, economy, efficiency and effectiveness. Analysis of resent researches and publications. Problematic aspects of the organization of state financial control are in the field of scientific interests of many scientists. The main ones include incomplete provision and timely use of budget funds, the lack of powers of the Accounting Chamber of Ukraine to apply measures of influence to violators of the budget process. The analysis of funding and the implementation of the programs of sectorial budget support of the European Union has established the fact of insufficient provision and timely use of these funds. The aim of the article is to determine the priorities for the development of the external auditing industry and the strategic tasksfor improving the organization of supreme state financial control in the conditions of European integration of Ukraine. Materials and methods. The system approach is used when disclosing the essence of the external state financial control, standardization methods – to improve the regulatory support of the Accounting Chamber of Ukraine, scientific abstraction and synthesis – in substantiating the directions of increasing the efficiency of the organization of the supreme body of state financial control. The results of the research. The Institute of External Auditing is a system of external, independent control on behalf of society on the activities of the state on the management of national resources of the country, which manifests the following constitutional principles of state activity, such as democracy, openness of power, the priority of human rights in civil society. At the same time, the authorities should promote the openness of external control, as the auditor’s conclusion is an effective mechanism for the legitimization of socio-economic decisions of the state. Besides, developed external auditing is an effective tool for reducing information asymmetry in civil society and state relations, and at the same time, it contributes to improving the efficiency of the state apparatus as a whole. Conclusion. In modern conditions, the priorities of the development of the external auditing industry in Ukraine are: application of international standards for supreme financial control bodies, standards of the international organization of the supreme control bodies, organization of the supreme financial control bodies of Europe. The strategic tasks are: promoting sustainable development of the state, combating corruption, dissemination of ethics and general guidelines for performance auditing, institutional formation of the system of supreme state financial control.

Background. The development of state financial control occurs in each country in a peculiar way, which is caused both by the established historical administrative system and the needs of the system of public administration. Analysis of recent research and publications. Many scholars have been studying issues of state regulation and financial control, including: A. Mazaraki, I. Chugunov, S. Bardash, S. Volosovych, V. Baranovska, O. Aleksandrovych, O. Lytvyn, V. Nikitin, D. Chernikov, M. Kuzio etc. Highly appreciating the contribution of researchers, it is worth noting that there is a need for a comparative analysis of the regional peculiarities of the institutionalization of the designated system in the world. The aim of the article is to identify regional peculiarities of the institu­tionalization of public financial control and the search for the most effective model. Materials and methods. The scientific works of scientists and practitioners published in Ukraine and abroad became the information base of the research. The article used statistical data of international organizations. It was applied methods of qualitative and quantitative analysis, the unity of historical and logical, comparison and generalization. Results. The regional features of institutionalization of state financial control in the world are analyzed. There are identified regions in which the supreme body of state financial control of preventive type prevails, as well as regions with a controlling body of punitive type. It has been established that the model of state financial control, which is endowed with judicial functions, is characterized by a lower level of legislative regulation, much lower indicators of financial audit, performance and efficiency audit and other control measures. While in countries dominated by the parliamentary model of public financial control, without judicial functions, there is a much higher level of transparency and publicity of the control process. Conclusion. Independent administration of the parliament without judicial functions is by far the most optimal and effective system of institutionalization of the supreme body of state financial control in the world.

Background. The external environment affects the economic activity of processing enterprises through factors, including the international factor. Cooperation of Ukraine with international financial organizations was actual and remains the same today, because before the domestic business entities the issue of finding resources and obtaining support in the foreign market becomes more and more relevant. The aim of the article is to determine the role, prospects and impact of cooperation between international financial institutions and Ukraine on domestic processing enterprises, to summarize the results of Ukraine’s cooperation with international organizations in the current political and economic situation in Ukraine. Materials and methods. The methodological basis of the article is the synthesis of research results of domestic and foreign scholars on the economic results of international cooperation, the study of relevant international assistance projects that influenced the development of both an individual region and the whole Ukraine. The research was conducted using the methods of theoretical generalization, comparative analysis, deduction. Results. Projects of international cooperation have a positive impact on the development of processing enterprises and become a key aspect of the development of a separate region and the state as a whole, since attracting additional investments stimulates the development of expanded production, the profitability of enterprises in the processing industry, and the stabilization of the national economy. Conclusion. Cooperation with international financial institutions is important for reforming the Ukrainian economy, improving macro-financial indicators, forming a competitive market environment, cost-effective production of processing enterprises, and stabilizing the national currency. At the same time, it should be noted that international cooperation should not be based on the economic dependence of Ukraine on its international partners, the increase of public debt and the threat of its sovereignty. International cooperation should be considered as an effective tool for stabilizing the Ukrainian economy and a positive example of the development of expanded production of processing enterprises in developed countries.