IMPLEMENTATION OF AUTOSANATION MEASURES THROUGH THE OPTIMIZATION OF ACCOUNTS PAYABLES MANAGEMENT METHODS

Abstract

The article examines the peculiarities of carrying out autosanation measures due to the optimization of accounts payable management methods, defines the role of accounts payable reduction methods in the enterprise recovery management system. It was found that in the Ukrainian and foreign scientific and applied literature, there is no adequate coverage of the issues of using methods of reducing payables as a source of financing for the company’s autosanation.

The urgency of solving this task is due to the fact that for an enterprise that is in a state of crisis and whose cash flows are unbalanced, there is no possibility of covering current payments at the expense of current revenues and, accordingly, it is not in a position to accumulate enough cash for the timely repayment of accounts payable debts. For this reason, in order to reduce the risk of bankruptcy of the business entity and reduce the need for resources to finance autosanation measures, it is necessary to consider in detail possible measures to reduce accounts payable.

In the study, the author focused in detail on the assessment of those autosanation’ sources of financing that can be mobilized by an enterprise in a crisis, due to the optimization of accounts payable management methods. Focusing on the achievement of the main financial goals of autosanation, such as increasing liquidity and solvency, the author considered obtaining sanation loans, issuing debt securities under the third party warranty, transforming debt into property (exchange of payables for the debtor’s securities), repayment of payables at the expense of debtor’s property, carrying out repurchase transactions, tolling, financial leasing, reduction of payables with a simultaneous reduction of the company’s receivables, termination of economic obligations by agreement of the parties (extension of terms for payment of payables (debt novation), write-off of payables (full or partial), early repayment of payables with a discount or termination of the obligation by the transfer of recourse, reissuance of the debt into promissory notes) as important and effective methods of managing the enterprise’ payables during the autosanation implementation.

Thus, in the author’s work, the grouping of the sources of financing for the company’s autosanation was carried out due to the optimization of work on accounts payable and they were considered in detail. It was established that for the effective financial support of auto rehabilitation procedures due to the reduction of payables at the enterprise, it is necessary to implement measures aimed at improving the quality of payables management.