BUSINESS PROMOTION ACTIVITY BY OPTIMIZING RECEIVABLES

         Розглянуто основні методики оптимізації дебіторської заборгованості суб’єкта господарювання та розраховано оптимальний обсяг дебіторської заборгованості для ПАТ «Київхліб».

         Ключові слова: ділова активність, дебіторська заборгованість, фінансовий цикл.

   Рассмотрены основные методы оптимизации дебиторской задолженности предприятия и рассчитан оптимальный объем дебиторской задолженности для ПАО «Киевхлеб».

         Ключевые слова: деловая активность, дебиторская задолженность, финансовый цикл.

         This paper has substantiated the basic methods of optimizing receivables and calculated the optimal amount of receivables in JSC «Kyivkhlib».

         Keywords: business activity, accounts receivable (receivables), financial cycle.

         Formulation of the problem. Increasing competition on both foreign and domestic markets, due to the dynamics of economic processes and changes in global development trends, hences the need to address the urgent problem of providing and maintaining a high level of enterprises’ competitiveness. In terms of economic transformation in Ukraine, the role of business activity of the entity is growing, considering the fact that it is the real basis for achieving sustainable business and acting engine of social and economic progress in a market economy. At the same time, effective management of business activities of the company is closely associated with the management of its resources, prompt implementation of which helps to reduce operating costs associated with these resources, reduce production costs and increase profits. Considering the fact that the receipt of payments from debtors is one of the main sources of funding for the entity, and cost-benefit evaluation can be used to expand sales, there is a great need to consider the analysis of receivables. In particular, the ensuring of the optimal level of accounts receivable and its share in the structure of current assets of the entity play a pivotal role for all businesses, regardless of ownership and size, as through this economic category management can affect the amount of profit the company gets, its liquidity, solvency as well as the risks connected with them.

        Analysis of recent research and publications. Lots of scientists continually take an interest in the issue of business promotion activity by optimizing receivables. Conceptual framework related to the calculation of the optimal amount for the investigated categories was investigated in the works of such scholars as I.M. Boyarko, L.O., Lihonenko, A.I., I.A. Luchkova and others.

         The purpose of the study is to calculate the optimal value in JSC «Kyivkhlib» for promoting its business activity.

       Summary of the basic material. In the current economic conditions it is observed an accelerated growth rate of the accounts receivable value in enterprises, whose share in the structure of current assets of many entities is the largest one. Entity can benefit from receivables in the way that it promotes rapid realization of inventories, increase of its turnover, and also the mass of gross income and profit. However, the presence of accounts receivable indicates a distraction of working capital from economic circulation, but in order to finance the debt, it is necessary to use other sources that also have a price. At present time, many companies are facing lots of problems with management and accounting of receivables, the main of which is the low purchasing power of buyers, absence of the analysis of creditworthiness for debtors and efficiency of commercial lending, lack of reliable information on the timing of payment obligations for companies (debtors). Therefore, in order to improve receivables management, appropriate policy management categories should be researched, for example:

• analysis of receivables in the company for the previous period;
• formation of principles for monetary policy with respect to customers;
• creation of a credit conditions system;
• development of evaluation standards for customers and differentiation of the terms of the loan;
• formation of collection of receivables management
• use of refinancing of receivables on the enterprise of modern forms;
• building effective control systems and timely collection of receivables [3, p. 38].

         Accounts receivable management policy should be directed to the expansion of sales and optimization of its size as well as the timely payment. Therefore, joint management decisions, concerning the issue of giving commercial credit and its value, should be based on the determination of the optimal amount of receivables. At this moment there are used several methods of optimizing receivables entity. In particular, according to the method of Blanca O.I., optimal amount of accounts receivable is estimated on the base of the average term of loans and late payments on loans. We believe that this method does not take into account all the key factors that influence its scope, so this optimization method can suggest only approximate results. According to the method presented by Boyarko I.M, concerning optimization of terms of receivables turnover, it takes into account the impact of receivables on liquidity of entity’s assets, and the result of this calculation refers to its credit policy, however, one of the conditions for application is that the length of the production cycle is unchangeable [2].

         In view of the fact that the food industry of Ukraine is one of the strategic sectors of the national economy and bread represents the bulk of consumer basket, it is of paramount importance to calculate the optimal amount of receivable for one of the leading company for bread and bakery products in Ukraine – JSC «Kyivkhlib». While conducting this analysis we have used several methods. In particular, according to the method of Luchkova A.I, where the key factor of optimization is the credit period, which combines credit policy and the policy of the optimal amount of investment in debt, the optimal amount of receivables for the investigated entity was UAH 75432,5 on January 1, 2015, which by UAH 10336,5 less than its actual amount.

         If the company’s purpose concerning optimizing receivables is to ensure solvency, there should be used the method of Lihonenko L.O, refer to the fact that it includes impact of receivables on liquidity of entity’s assets as well as the relationship between the change in sales volume and researched categories (Table 1).

Table 1

The calculation of the optimal level of receivables in JSC «Kyivkhlib»

 on January 1, 2015

         According to the data presented in Table 1, the optimal amount of receivables for products, goods, works and services at the beginning of 2015 for JSC «Kyivkhlib», in accordance with the method of Lihonenko L.O., amounted to UAH 71223,37 which is by USD 14545, 63 less in relation to its actual value, and it is different from the results obtained by the implementation of model presented by Luchkova A.I.

         In addition, method of the analysis of receivables presented by Lihonenko L.O. on one of the stages involves the study of funding sources, according to which it is compared the amount of current receivables with the value of working capital, accounts payable and short-term bank loans [4]. Given the fact that on December 31, 2014 JSC «Kyivkhlib» had these inequalities indicators: A/cs. Pay > A/cs. Rec > STL > WCC, it can be stated that entity implements a balanced financing receivables policy, using source funds along with their own payables-contractors.

         However, the optimum amount of receivable calculated by these methods can provide the information only about the current solvency. Therefore, in order to maintain financial stability of entity, financial cycle should be used that enables to combine its credit policy with changes in financial position. One of the instruments to improve the financial situation of the company is the reduction of the financial cycle, while maintaining a balance between creditors and debtors accounts. Refer to this fact, Boyarko I.M. offers to determine the optimal (maximum) amount of receivables considering the fact that the length of its cash cycle is the product of the average annual one-day net sales and the expected change in net income (Table 2).

Table 2

The calculation of the maximum amount of receivables in in JSC Kyivkhlib on January 1, 2015

         According to these data, the maximum allowable amount of receivables in JSC Kyivkhlib on January 1, 2015 amounted to UAH 22031,74 which is by UAH 63737,26 less compared with its actual value and it points to the need to find new and more effective ways of reducing the volume of the studied index.

      Conclusions. Have conducted the comparative analysis of methods of optimizing receivables in JSC «Kyivkhlib», we can assert that the method presented by Boyarko I.M. is the most effective one since it allows to compare credit policy to the amount of receivables, it means that for different purposes of monetary policy, companies calculate different optimal amounts of receivables. However, in view of the fact that the actual amount of receivables of investigated entity significantly exceeds optimal size the following measures should be taken:

• conduct the analysis of the debt concerning different products in order to determine disadvantageous goods in terms of indexation;
• ensure timely monitoring of the ratio of receivables and payables;
• conduct accounts receivable age analysis to identify periods in which mistakes were made in the management of accounts receivable;
• assess the feasibility of using factoring;
• establish an internal audit department to monitor the doubtful and bad debts;
• sell accounts for debtors or factoring company.

         In addition, such indirect methods of resolving problems as PR-support for the collection of debts and PR-support connected with legal activities for protecting the rights of defrauded creditors are becoming more popular, so they should find its practical implementation in JSC «Kyivkhlib» [6, p. 131]. Regarding the collection of receivables, the most prominent tool is to give discounts for prompt payment products, but we should remember that the discounts can be offered only for regular customers on condition that strict payment discipline concerning timing and amounts will be followed.

         Considering all above-mentioned aspects, only calculation and support of optimum size of receivables in JSC «Kyivkhlib» can ensure timeliness and completeness of payments receivable as a guarantee of stability successful development and skillful administration and management of receivables could enable to develop rational use of available financial resources and strengthen economic security.

References

1.Blank I. O. Upravlinnia finansamy pidpryiemstv / I. O. Blank, H. V. Sytnyk. – K.: KNTEU, 2006. – 780 s.

2.Boiarko I. M. Optymizatsiia debitorskoi zaborhovanosti pidpryiemstva / I. M. Boiarko // Ekonomika, finansy, pravo. – 2010. – № 9. – S. 19 – 25.

3.Zelikman V. D. Napriamy udoskonalennia obliku ta vnutrishnoho audytu debitorskoi zaborhovanosti pidpryiemstv / V. D. Zelikman, Iu. A. Sonina // Nauka ta prohres transportu. Visnyk Dnipropetrovskoho natsionalnoho universytetu zaliznychnoho transportu imeni akademika V. Lazariana. – 2014. – № 4. – S. 37-42.

4.Lihonenko L. O. Upravlinnia debitorskoiu  zaborhovanistiu  pidpryiemstva  / L. O. Lihonenko, N. M. Novikova. – K.: KNTEU, 2005. – 276 s.

5.Luchkov O. I. Vyznachennia optymalnoho rozmiru debitorskoi zaborhovanosti / O. I. Luchkov // Aktualni problemy ekonomiky. – 2003. – № 1. – S. 22 – 26.

6.Runcheva N. V. Debitorska zaborhovanist: shliakhy zapobihannia i optymizatsiia stiahnennia / N. V. Runcheva, N. V. Kolesyk // Visnyk Berdianskoho universytetu menedzhmentu i biznesu. – 2013. – № 4. – S. 129-132.

STATE PROVISION OF PENSIONS IN UKRAINE: CURRENT STATUS AND TRENDS OF IMPROVEMENT

         Оцінено сучасний стан системи державного пенсійного забезпечення в Україні та запропоновано напрями її вдосконалення у контексті реалізації урядової державної програми.

         Ключові слова: пенсійне забезпечення, Пенсійний фонд, пенсійна система.

Оценено современное состояние системы пенсионного обеспечения в Украине и предложены направления совершенствования государственного пенсионного обеспечения в контексте реализации правительственной государственной программы.

         Ключевые слова: пенсионное обеспечение, Пенсионный фонд, пенсионная система.

         This paper has been appraised the current state pension system in Ukraine and suggested the ways of improving public pensions in terms of state government programs.

         Keywords: provision of pensions (pension administration), pension fund, pension system.

         Formulation of the problem. Satisfaction and protection of material needs for disabled and economically inactive citizens is an important part of social and economic strategy for all countries which is realized through the pension system. Since the main or even the only source of income for pensioners is pension benefits, the aim of pension system is to ensure material well-being and a decent standard of living for disabled citizens.

In the course of transition to market relations, the effective provision of pensions has become one of the most critical issues nowadays, owning to the fact that major part of the pension system in Ukraine operates under crisis conditions over the last few years. As result of unfavorable demographic situation and the strengthening of negative trends in the economic situation such problems occur: increasing demographic burden on the working population, absence of appropriate pensions which would ensure a decent life, instability of the current pension system, discrepancy between pensions and fundamental principles of social protection for disabled people and social injustice in pension system.

Alarming demographic trends and a number of other problems depict inability of pension systems to meet the current needs. Thus, the task of further reform and improvement of public pension system are becoming of paramount importance.

Analysis of recent research and publications. Lots of scientists continually take an interest in the issue of the effective functioning and improving of the pension system. Nowadays the problems concerning functioning of the pension system is a leading factor in strengthening the social security of the country and it is discussed in the works of such scholars as G. MсTaggart, O.P. Slyusarchuk, S.V. Sorokivska and others.

The purpose of the study is to determine the current state of provision of pensions in Ukraine and possible areas for improvement.

Summary of the basic material. The nature of the pension system was the subject of study for both domestic and foreign scholars, but still there is no common interpretation on this phenomenon. In our opinion, the most complete definition of provision of pensions was provided by S.M. Martyusheva who stated that pension administration is a kind of social and material security of citizens, foreigners and stateless people which is realized through a set of legal actions that are also coordinated with payments for disabled senior citizens; these payments are made on monthly basis in the event of social risks such as: disability, old age, loss of a breadwinner and other circumstances directly prescribed by law and protected by the state [4, p. 349].

While studying the pension system in Ukraine, it is necessary to indicate the main principle of this structure as far as they depict the nature and the aim of its functioning: principle of universality, pension rights, different types of pensions, various pension arrangements, the right choice for pensions, principle of providing pensions at a level no lower than the living wage, provision of pensions at the expense of the trust funds or the state budget and the principle of conservation and protection of citizens’ rights concerning pensions, which guarantee the right of every Ukrainian citizen for pension payments and decent quality of life.

In 2004 in Ukraine a new phase of pension reform started with the implementation Law of Ukraine “On Compulsory State Pension Insurance” and “On private pension provision” aimed at solving the problem concerning low level of material well-being of disabled people and creating a fair system of distribution of pension funds. As a result, there has been transition to retirement insurance and establishment of a three-pillar pension system:

• Pillar I – joint system
• Pillar II – mandatory accumulation system;
• Pillar III – voluntary private funded accounts.

Due to the budget deficit of the Pension Fund of Ukraine and many unresolved organizational issues, the functioning only of pillars I and III was provided, whereas the introduction of pillar II is postponed. The introduction of mandatory funded system has great advantages over other components of pensions. One of the huge advantages is the right of every citizen to form additional pension funds that can be used in two ways, firstly, as future pension benefits in addition to solidarity pension system; secondly, it can be demised in accordance with the Civil Code of Ukraine. In addition, pillar II has such peculiarity as personalization of pension contribution, accounting on accumulative pension account and accumulation in Accumulation Pension Fund of Ukraine, the main focus of which is on investment in the economy that also can provide additional investment income to their owners.

The current state of financial stability of pillar I and the possibility of introducing mandatory funded system can be appraised by analysis of income and expenditure from budget of the Pension Fund of Ukraine, which during 2012-2015 remained to be in short supply: in 2015 there were surcharged UAH 18 9 billion that is by UAH 1.8 billion more than in 2014 and is by UAH 2.9 billion less than in 2013. On average, in 2014 pension payments increased by 169.95 UAH or 11.2%, and on January 1, 2015 amounted to 1691.55 UAH. Moreover, during the studied period the dynamics of revenues of the Pension Fund Ukraine was not even. In particular, in 2014 the Pension Fund of Ukraine received UAH 233917,6 million, in comparison with the revenues in 2013, when this sum decreased by 6.5% or UAH 16309,9 million and exceeded the value of revenues in 2012 to UAH 11.2858 billion (5.1%). Own funds account for the largest share of revenues, it equals to 71.3% (UAH 166.928 billion), and this sum is decreasing on annual basis whereas the amount of funds from the State Budget of Ukraine allocated to pension schemes is growing. Thus, Pension Fund can provide pension payments and financial assistance to pensioners in Ukraine to full extent.

However, in 2014 the total expenditures of the Pension Fund of Ukraine decreased, the value amounted to UAH 248.9451 billion that is by 0.6% less than was in 2013 and by UAH 15.2492 billion more than was in 2012. The growth of total spending was the result of additional costs appeared because of new payments and recalculation of pension benefits, which were conducted in accordance with laws and regulations.

On the other side, the current pension system in Ukraine has a negative impact on the level of pension expenditure in GDP. For example, till 2004 the share of pension costs was approximately 9% of GDP, after the reform, this ratio rapidly grew, and in 2009 it reached a record value – 18.1%, in terms of the fact that expenditure has not been reduced or eliminated, GDP, due to the economic crisis, sharply fell. In 2014 the value of the studied indicator reached 17.2% that is compared to many European countries, is the largest one. Burden on workers, calculated by the ratio of contributors and pensioners, plays an important role as well. Particularly, in 2015 10 million workers paid for 12 million pensioners, it is predicted that in 2025 the statistics will be the following: 100: 114.

One of the unresolved issues that prevents private pensions from the effective functioning and violates the principle of social justice is the issue concerning payment for certain categories of workers (people’s deputies, prosecutors, civil servants) which is several times higher than the general pension. On January,1 2015 the gap between the minimum and maximum size of pension was 1:17, salary of the Cabinet of Ministers of Ukraine exceeds 15 times, judges and prosecutors – 12 and 6 times respectively, customs officers – 4 times. Thus, the full differentiation of pension levels should be modified based on average earnings of the worker and his/her employment contribution, respecting the principles of social justice.

All in all, despite the implementation of three-pillar structure of the pension system in Ukraine and having the international experience, lots of problems remained to be unsolved. That is why, in 2014 there was approved the Program by the Cabinet of Ministers of Ukraine, which contained the list of changes necessary for the social sphere, and especially for pensions. One of the points of this program is about the establishment of a fair social pension system and the abolition of special pensions, which, in our opinion, should become the priority of the government towards improving the pension system in Ukraine. With the adoption of the Law “On Amendments to Certain Legislative Acts of Ukraine on pensions”, the first steps towards the introduction of “common principles” of pensions for all categories of citizens were made. These new changes were mainly made for such categories as government officials, prosecutors, MPs, judges and others. In particular, occupying above mentioned position, a person  cannot receive pension, in other words, pensioners have the right to choose whether to occupy ”special position” and receive salary or resign and receive a pension [6]. Regarding working pensioners of other categories, the amount of retirement benefits of whom exceeds UAH 1423.5 or 1.5 time of living level, pension is paid at a rate of 85% granted pension but not less than 150% of living level. At the same time, disabled people of I and II groups, disabled veterans of III group, combatants, and members of families of fallen soldiers receive a 100% pension.

According to the Program of the Cabinet of Ministers of Ukraine, high pensions continue to be taxed but I accordance with new changes. In addition, Law of Ukraine “On Amendments to the Tax Code of Ukraine and Some Other Legislative Acts of Ukraine on Provision of Balance of Budget Revenues in 2016”sets new limits for the taxation of large pension and a new procedure for payment of compulsory pension insurance. From January 1, 2016 single rate of taxation was fixed at 15% for the amounts of pension payments that exceed UAH 4134 (three minimum wages, on January 1, 2016). At the same time, pensions granted to combatants of World War II, disabled veterans and family members of the victims (dead) war veterans are not taxed [1].

Also new changes were applied to the terms of calculation and payment of compulsory state pension insurance for legalization of the labor market and the legalization of wages, the main of what are:
• single tax is imposed on  each insured person, but not on the total payroll or the total amount of financial support;

• a minimum payment per month per employee is introduced, which is calculated by multiplying the minimum wage, established by law for a month, and for which the wage (salary, income) and single tax rate established for the respective categories of taxpayers is charged;
• single tax rate for of compulsory state pension insurance is reduced to 22%;
• the maximum rate of single tax is extended from 17 to 25 of living level for employable population [2].

One of the methods of pension increase is an increase of the retirement age.

In most foreign countries the retirement age is from 60 (for women, Poland) to 66 (US) with a gradual increase to 67. Compared with European countries, in Ukraine the value of this indicator is the lowest, that equals to 55 years. With the adoption of the Law “On measures to ensure the legislative reform pension system”, which entered into force on October, 1, 2011, in Ukraine the retirement age is to be increased gradually to 60 years for women and 62 years for men-civil servants by 2021. However, while increasing the retirement age, life expectancy should be taken into account, for example, in Ukraine it is one of the lowest one, 73 years for women and 62 years for men, unlike in such countries as Germany, France, the Netherlands and Denmark, where life expectancy is from 81 to 84 years for women and 76 years for men. A good example can be taken from Spain, where on December 23, 2013 a new law called “stability factor” came into force, which adjusts pensions to changes in life expectancy in the country.

Conclusions. The system of provision of pensions is one of the most important and main directions of policy of social protection performed by the state as far as it provides pension benefits for disabled citizens of our country, for most of whom it is the main source of livelihood.

Analysis of state pension provision indicates that despite the introduction of a three-pillar structure of the pension system, most social problems are remained to be unsolved. First of all, it concerns the issue of pension payment system and insufficient level of funding. Therefore, in order to improve pension system, the following tasks should be solved:
• increase the retirement age and start gradual equalization of women’s and men’s retirement age;
• eliminate / reduce programs for long-term retirement;
• strengthen control over the process of obtaining disability benefits and assessment of working conditions for eliminating pension administration fraud for these categories of citizens;
• activate non-state pension system by increasing the level of trust and protection of clients’ interests for reducing the load of pension system in Ukraine;
• improve the mechanism of pension taxation, according to which the increase of tax rate will depend on the increase of pension payments that exceed the sum that equals to UAH 4134.

The implementation of all above mentioned measures will create favorable conditions for the development of pension system, which can ensure equal conditions of pension administration for all categories of disabled citizens.

References

1. 2016-i rozpochavsia zminamy u pensiinomu zakonodavstvi [Electronic resource] // Ofitsiinyi sait Pensiinoho fondu Ukrainy. – Mode of access: http://www.pfu.gov.ua/pfu/control/uk/publish/article?art_id=239063&cat_id=184068
2. Zakon Ukrainy «Pro vnesennia zmin do Podatkovoho kodeksu Ukrainy ta deiakykh zakonodavchykh aktiv Ukrainy shchodo zabezpechennia zbalansovanosti biudzhetnykh nadkhodzhen u 2016 rotsi» [Electronic resource] // Zakon Ukrainy vid 24.12.2015 № 909. – Mode of access: http://zakon5.rada.gov.ua/laws/show/909-19
3. Zakonodavchi zminy u pensiinii systemi z 1 sichnia 2015 roku [Electronic resource] // Ofitsiinyi sait Pensiinoho fondu Ukrainy. – Mode of access: http://www.pfu.gov.ua/pfu/control/uk/publish/article?art_id=221302&cat_id=184068.
4. Kompleksna statystyka [Electronic resource] // Ofitsiinyi sait Derzhavnoi sluzhby statystyky Ukrainy. – Mode of access: http://ukrstat.gov.ua/.
5. Martiushev S. M. Shchodo sutnosti pensiinoho zabezpechennia pratsivnykiv / S. M. Martiushev // Forum prava. – 2013. – № 3. – S. 347-351.
6. Pro vnesennia zmin do deiakykh zakonodavchykh aktiv Ukrainy shchodo reformuvannia zahalnoobov’iazkovoho derzhavnoho sotsialnoho strakhuvannia ta lehalizatsii fondu oplaty pratsi [Electronic resource]: Zakon Ukrainy vid 28.12.2014 № 77-VIII – Mode of access: http://zakon4.rada.gov.ua/laws/show/77-19

IMPROVEMENTS IN MANAGEMENT BY THE PROMOTION OF DEPOSITE RESOURCE JSC «OSCHADBANK»

         Оцінено сучасний стан депозитних операцій в АТ «Ощадбанк» та запропоновано напрями вдосконалення методів залучення ресурсів із депозитних джерел банку.

         Ключові слова: депозитні ресурси, депозитний менеджмент, бенчмаркінг.

         Оценено современное состояние депозитных операций в АО «Ощадбанк» и предложены направления совершенствования методов привлечения ресурсов с депозитных источников банка.

         Ключевые слова:депозитные ресурсы, депозитный менеджмент, бенчмаркинг.

         This paper has appraised the current state of deposit operations at JSC «Oschadbank» and suggested methods of attracting the resources from the deposits of the bank.

         Keywords: resources deposit, deposit management, benchmarking.
         Formulation of the problem. At the present stage of economic development, the formation of resource base of domestic banks plays a pivotal role in its efficient operation, since the availability of sufficient financial resources enables to undergo the active operation for obtaining the maximum level of profit and risk diversification. Deposit operations are the main source of the bank’s funding base, and one of the most important functions of the bank is rational allocation of temporarily surplus funds raised from the public and businesses that further are used for active operations. Attraction of temporarily free funds in deposit accounts contribute to the bank’s liquidity, increase of lending operations and the formation of effective structure, acceleration of cashless payments and reduction of the cost of funds compared with interbank loans. As far as the largest share of resource savings of the bank is from depositors, each bank aims to create a strong and stable deposit base. Moreover, today, since each bank has to compete for attracting temporarily free funds of population and legal entities, this issue has become of paramount importance for all banks. In this regard, all banks should appraise the situation and develop a series of measures to attract new customers and increase the deposit portfolio.
         Analysis of recent research and publications. Lots of scientists take an interest in the issue of improving the management process of attracting resources from deposit sources. For example, conceptual framework related to the mobilization of bank resources were investigated in the works of Savluk M., S. Prince, A. Ashurbyekova, Ye. Hlinskyy and others.

         The purpose of the study is to identify the methods of attracting resources from deposit sources at JSC «Oschadbank».

         Summary of the basic material. Increased inflation, currency depreciation, the military conflict in the East, the high level of dollarization, increase currency risk and other problems have caused a deep crisis of the Ukrainian banking system. The result of unprecedented mix of political, financial, economic and banking crisis has resulted in a significant loss of people’s confidence in the banking sector and the outflow of deposits. Only since early 2015, domestic banking system has lost about UAH 58 billion and USD 11.4 billion of US client deposits, and even now banks cannot convince their customers of reliability, financial stability and guarantee the payment of deposits.

At present day JSC «Oschadbank» is the only bank in Ukraine that provides a one hundred percent guarantee of customer deposits – the return of the deposit guaranteed by the state in full amount and without restrictions. According to the ratings of reliability of bank deposits, Oschadbank has rating “A” which means the highest reliability and low sensitivity level to adverse external factors. The evidence of a high level of customer confidence in the bank is an annual positive upward trend in the value of deposits. In particular, during 2014 the value of retail deposits increased by UAH 20,367,490 thousand or 56.8%, and at the beginning of this year amounted to UAH 56,208,996 thousand. In structural terms, the largest share of savings was time deposits – 61.4% and demand deposits of individuals – 38.6% or UAH 21,693,178 thousand. The total account balance of top ten customers amounted to UAH 8665071 thousand (15%). In the structure of deposits by sector, the largest share of savings from individuals – 65.9% of the total deposits, while the lowest proportion of deposits accounted for the publishing sector, which amounted to UAH 40 537 thousand or 0.07% of total savings.

JSC «Oschadbank» offers a variety of deposit programs of term deposits from 3 to 36 months at an interest rate of 8% to 21% with a minimum deposit from UAH 100 to UAH 5000. The list of these deposits with differentiation conditions for each of them and a simple mechanism for opening a deposit account allows attracting more customers. The evidence to this fact is an increase in the total amount of deposits – UAH 24.7 billion during 2013-2015. During the studied years, most funds were attracted to the deposits Deposit, Savings and Combined. Taking into consideration that one of the indicators of reliability of banking institutions is its policy on interest rates on deposits, JSC «Oschadbank» never offers its customers excessive interest rates on deposits. In terms of currency, the largest share was deposits in national currency fund, which ranged from 20 to 45% and time deposits about 60%.

Despite the positive growth of deposits in JSC «Oschadbank», improvement and further development requires a deposit management, as one of the main components of bank management. Deposit management system is a continuous process of improvement and involvement of management in the required amount, with the further spending on active operations on favorable terms for the bank, to the extent and in the manner prescribed by applicable law.

Deposit management bank is one of the main ways of increasing the efficiency of management involvement deposit resources, since the bank is an integral part of the financial management. Deposit management system has some feature, most important of which, in our opinion, are dynamism, adaptability and realism. Most importantly, dynamism and adaptability of the bank management should include its implementation in the long run, as far as it is impossible to realize all the points within the shortest time. In addition, it should include the immediate response to ongoing changes in the internal and external environment. Moreover, feasibility study category indicates that its formation should be based only on realistic performance experience for further practical implementation and achievement of objectives.

Above all, there is a pressing need to ensure a balance between existing banking products and introducing new ones with intention of increasing the efficiency of attracting deposits. In the first place, the deposit programms that are increasing in popularity and providing a significant increase in deposit resources should be identified. Moreover, it is necessary to maintain its function and work on improvement, for example, introducing additional bonuses or offering a gradual increase in interest rates on deposits – 0.5-1% per year. The example of such a deposit in JSC «Oschadbank» was «Deposit» in which revenues accounted for the largest share in the structure of all raised resources, however, at present time such banking product are not offered.  Due to this fact, JSC «Oschadbank» needs to develop a new deposit program, for example, for such category of customers as students. One of the examples of such an innovation can be special escrow account, with the help of what each month students can get bonus and have an opportunity to use them for purchases or other services. Although, JSC «Oschadbank» already has a special offer for such category as pensioners, there is a great need to develop them by gradually increasing interest rates or offering additional services and bonuses. Taking into account all above mention, there would be reasonable to offer QFD (Quality Function Deployment) for JSC «Oschadbank». The functioning of this system in the bank will provide continuous control over the changing needs and desires of customers and will develop new products and services to their needs.

According to the analysis of the banking system in 2014, PJSC CB «PRIVATBANK» has become a leader in attracting customer deposits, while the object of our study occupied the second position. In this case, it is necessary to conduct benchmarking, not only as a one-time action, but establish a continuous process of comparing its products and services with the competitor’s ones. For this purpose, there is a need to introduce ABC (Activity Based Costing) and TBC (Time based Competition) system, where ABC helps to control costs of deposit products, identify those that provide a significant increase in deposit resources and eliminate products which do not bring added value to the client. On the other hand, TBC (Time based Competition), a system of evaluation «temporary competition», will help to coordinate the activities of the bank on the market in time. Analyzing direct competitors, such indicators as an individual deposit service, the popularity of the brand, the opportunity to expand deposit services, efficiency of various types of deposits and flexible marketing policy should be taken into consideration.

One of the aims of benchmarking is to determine the competitiveness of the banking product that allow to estimate the ratio of its quality and cost performance compared to competitors’ products that will help to determine the actual level of competitiveness. The set of criteria such as core banking product price, breadth and depth of range, line structures range requirements of consumers, service time, availability of discounts and many others should be defined. This approach enables to determine the actual level of competitive banking products, on the base of what recommendations for its improvement will be developed. Thus, while using the deposit benchmarking activities, JSC «Oschadbank» will have an opportunity to identify strengths and weaknesses of its deposit policy compared with leading banks or competitors’ and react to changing internal and external environment accordingly.

Furthermore, a continuous monitoring of rational and purposeful resource involvement can play a starring role in improving bank deposit policy. In this case, deposit resource management tools are an integral part, including analysis and planning which provide the research of «behavior» of clients’ accounts, the choice of strategy in the market deposit services, work to attract customers and control. In addition, continuous monitoring of the funds in customer accounts, especially of the deposit outflows of resources, indicates the problem in the deposit of the bank that enable to improve alternative strategy involving funds on current and deposit accounts. Refer to the fact that in 2014 there was an increase of deposits in JSC «Oschadbank»., it is a great need of the development for raising funds. Taking everything into consideration, several measured are offered:

• develop an effective marketing system in order to provide special financial incentives, differentiation of which according to the importance of the customer to the bank;
• rely on a continuous basis of the expected value of a solid balance mechanisms of its formation and possible variations in time;
• ensure partnership collaboration with the largest possible number of customers for more accurate plan banking institution and the movement of funds in their accounts.

It is a common practice that special methods, connected with changes in the level of deposit rates, are used in order to attract the customer, for instance, concerning regular or elite clients. Unfortunately, there are no such programms in JSC «Oschadbank». So, one of the ways of JSC «Oschadbank» development can be the use of price management by involving customer funds. Considering the practice of using the non-price methods by other banks, it should be noted that it is necessary to improve the marketing strategy of JSC «Oschadbank», form a comprehensive services and improve customer service. Despite the fact that some extras cannot be connected with the main supply, its implementation will enhance the inflow of clients. The ensuring of low turnover in the accounts, especially for large customers, will enable to create customized packages that meet customer needs to full extend. Moreover, the increase of customer interest in long-term investments can be reached through the development of long-term products and the development of flexible accounts can provide the possibility of replenishment, withdrawal of contributions and interest payments on their request.

Apart from this, there is desperate need to use CRM technology for attracting and retaining customers. CRM is system of customer relationship management which is aimed at improving knowledge about customers and effective use of this information. Beside this, CRM technology can be used for predicting changes in the customer base and customer segmentation.

In contemporary economies, one of the most popular qualitative methods of detection and risk assessment of competitive advantages of other banks is SWOT- analysis, with the help of which strengths and weaknesses, opportunities and threats of commercial bank are determined. Thus, SWOT- analysis gives an opportunity to summarize the available information, determine competitive advantages and disadvantages and define strategy development based on the circumstances prevailing in the external and internal environment of the bank.

         Conclusions. The main role in enhancing the effectiveness of fundraising from deposit sources in JSC «Oschadbank» plays deposit management bank, which is aimed at providing stable growth of deposits, attracting new customers, maintaining existing client base, improving the range of products and services and others. In order to achieve these goals, benchmarking should be conducted on a regular basis that will help to determine the strengths and weaknesses of the banking product compared with competitors. In addition, improvement should be made both in price control methods with the involvement of customer funds and marketing for improving the quality of customer service. It is also necessary to introduce ABC, TBC and CRM systems that will ensure cost control over the deposit products, evaluation of competitive banking products and improving relationships with customers. Consequently, the implementation of all these techniques will provide additional attracting of deposit resources.

References

1. Aliluiko M. S. Suchasni tendentsii formuvannia resursnoi bazy bankiv / M. S. Aliluiko. // Visnyk UBSNBU. – 2014. – №1. – S. 159–163.
2.  Hladkykh D. Stratehichni oriientyry reformuvannia polityky upravlinnia sektorom derzhavnykh bankiv / Dmytro Hladkykh // Visnyk NBU. – 2015. – №3. – S. 12–17.
3. Hlinskyi Ie. H. Metodychni zasady vyznachennia tsilovoho rivnia konkurentospromozhnosti bankivskykh produktiv / Ie. H. Hlinskyi // Visnyk Zaporizkoho natsionalnoho universytetu. – 2012. – №4. – S. 221–228.
4. Dziubliuk O. V. Teoretychni ta prykladni aspekty realizatsii bankamy resursnoi polityky: monohrafiia / O. V. Dziubliuk. – Ternopil, Aston. – 2013.
5. Kniaz S. V. Depozyt yak osnovne dzherelo bankivskykh resursiv / S. V. Kniaz, M. V. Horun // Visnyk Universytetu bankivskoi spravy Natsionalnoho banku Ukrainy. – 2013. – №1. – S. 164–168.
6. Nikel M. I. Teoretychno-metodolohichni zasady hep-menedzhmenta ta shliakhy yoho udoskonalennia / M. I. Nikel // Aktualni problemy ekonomiky, menedzhmentu, marketynhu. – 2012. – S. 61–63.
7. Ofitsiinyi sait JSC «Oschadbank» [Electronic resource]. – Mode of access: http://www.oschadbank.ua/ua/.

Мета дослідження полягає у визначенні основних переваг та недоліків реформування спрощеної системи оподаткування.

Дослідженням цієї проблематики займались такі науковці як В. А. Ільяшенко, В. М. Кміть, С. І. Логвіновська, Н. М. Ногінова, М. Б. Судомир.

Відповідно до п. 291.2 ст. 291 ПКУ спрощена система оподаткування, обліку та звітності визначається як особливий механізм справляння податків і зборів, що встановлює заміну сплати окремих податків і зборів, встановлених пунктом 297.1 ст. 297 цього Кодексу, на сплату єдиного податку в порядку та на умовах, визначених главою 1, розділу XIV податкового кодексу України, з одночасним веденням спрощеного обліку та звітності [3]. Аналіз справляння єдиного податку протягом 2012-2014 рр. для суб’єктів малого підприємництва свідчить про  позитивну тенденцію до зростання обсягів його надходжень. Зокрема, у 2013 році єдиний податок надійшов у сумі 6,6 млрд. грн., що перевищує величину надходжень податку у 2012 році на 1825 млрд. грн., або у 1,4 раза. Таким чином, річний план було перевиконано на 15,6 %, або на 0,9 млрд. грн., що відповідає оцінкам експертів ІБСЕД, наведеним у виданні «Бюджетний моніторинг: аналіз виконання бюджету за 2013 рік» [5]. В основному таке зростання відбулося за рахунок збільшення кількості платників податку: фізичних осіб та суб’єктів малого підприємництва. Протягом січня-вересня 2014 року позитивна тенденція до зростання величини надходжень єдиного податку збереглася. Зокрема, він надійшов у сумі 5,3 млрд. грн., що на 11,2 % перевищує обсяги надходжень 9 місяців 2013 року і складає близько 2 % загальної суми податкових надходжень, що також стало результатом збільшення кількості платників податку.

Структурний аналіз єдиного податку відображає абсолютну перевагу його надходжень з фізичних осіб і щорічне зменшення цієї частки з юридичних осіб. Якщо у 2008 році загальна величина податку з фізичних осіб становила 1062,8 млн. грн., а його частка у структурі складала 57,3 %, то станом на 2013 р. ця сума зросла до 4897,2 млн. грн. і 73,7 %. Натомість величина податку з юридичних осіб щороку зменшується і у 2013 році досягла значення 791,6 млн. грн., або 26,3 % загального обсягу надходжень. Протягом січня-вересня 2014 року структурний розподіл не зазнав змін – як і в попередні роки більша частка надходжень у структурі єдиного податку припадає на фізичних осіб.

З 1 січня 2015 р. в дію вступив Закон України «Про внесення змін та визнання такими, що втратили чинність, деяких законодавчих актів України», відповідно до якого спрощена система оподаткування зазнала певних змін. Проаналізуємо основні переваги та недоліки такого реформування для платників єдиного податку. Передусім, розглянемо основні переваги реформованої спрощеної системи оподаткування:

1) збільшення величини надходжень податку до місцевих бюджетів за рахунок розширення кола платників та зниження податкового навантаження  шляхом підвищення граничної величини доходу і зниження ставок податку;

2) спрощення процедури порядку реєстрації платника податку та ведення поточного бухгалтерського обліку та розрахунків, пов’язаних з визначенням суми податку;

3) зменшення зловживань системою спрощеного оподаткування, зокрема щодо реєстрації фіктивних ФОП для зменшення зобов’язань із сплати податку на прибуток та ПДВ;

4) зменшення спотворень конкуренції, пов’язаних з оподаткуванням, оскільки вирівнювання податкового навантаження має витіснити з ринку неефективні підприємства та прискорити зростання ефективних;

5) часткове усунення дискримінації найдрібніших підприємців, в тому числі тих, хто тільки починає діяльність;

6) можливість зменшення податкового навантаження у періоди збитків, оскільки в разі перевищення витрат підприємця над його виручкою сплата ПДФО не здійснюватиметься;

7) збільшення прозорості ведення бізнесу, адже використання касових апаратів та стимулювання обліку витрат забезпечать більш прозору діяльність платників єдиного податку.

Недоліки реформованої спрощеної системи оподаткування:

1) частина платників єдиного податку була вимушена піти з ринку або перейти в «тінь»;

2) спосіб вирівнювання податкового навантаження може бути неоптимальним, зокрема у деяких випадках воно буде надмірним;

3) суттєві витрати бізнесу та держави на придбання та обслуговування касових апаратів, оскільки з 1 січня 2016 року платники II групи єдиного податку зобов’язуються встановити РРО, а з 1 липня 2015 року РРО зобов’язали встановлювати і платників III групи, окрім платників II і III груп, які торгують на ринках або через засоби пересувної мережі.

У 2016 році спрощена система оподаткування знову зазнає змін. Відповідно до проекту Закону України «Про створення конкурентних умов в оподаткуванні та стимулювання економічної діяльності в Україні» для 1 групи платників єдиного податку базові елементи залишаться без змін, однак 2 та 3 групу єдинників об’єднають в одну, встановивши для них критерій річного доходу до 2 млн. грн., а також скасують 3 групу, до якої входять юридичні особи. Тепер до 3 групи платників єдиного податку будуть належати сільськогосподарські товаровиробники, частка сільськогосподарського товаровиробництва за попередній податковий (звітний) рік яких дорівнюватиме або перевищуватиме 75 %, а річний обсяг доходу не буде більшим 2 млн. грн. [1]. Також передбачають ввести  заборону щодо застосування спрощеної системи оподаткування для фізичних осіб – підприємців, які ведуть господарську діяльність з юридичними особами та одночасно перебувають з ними у трудових відносинах і для платників 2 групи, які здійснюють виробництво, постачання, продаж (реалізацію) верхнього одягу з хутра та натуральної шкіри та у сфері готельного господарства. Заборона застосування спрощеної системи оподаткування також поширюватиметься на виробництво, постачання, продаж (реалізацію) дорогоцінних металів, каміння, напівдорогоцінного каміння, ювелірних та побутових виробів  з дорогоцінних металів, окрім надання послуг населенню з ремонту ювелірних виробів [1].

Підсумовуючи вищесказане, доцільно відмітити, що при розробці нової податкової реформи враховані інтереси найбільш чутливих до нововведень суб’єктів господарювання, а саме фізичних осіб-підприємців 1 та 2 груп. Щодо нововведень для інших груп платників єдиного податку, варто зазначити підготовку до їх поступового переходу в рамки загальної системи оподаткування. Однак, на нашу думку, загальна лібералізація податкової системи має привести всю систему оподаткування до певного спрощення, як з точки зору адміністрування податків, так і ведення обліку. Враховуючи міжнародний досвід, вагомим кроком спрощення і уніфікації обліку для суб’єктів малого підприємництва стала б розробка єдиного стандарту обліку та звітності, в якому були б усунуті суперечності існуючих нормативних актів.

        Література:

1. Про створення конкурентних умов в оподаткуванні та стимулювання економічної діяльності в Україні [Електронний ресурс]: Проект Закону України від 11.12.2015 – Режим доступу: http://w1.c1.rada.gov.ua/pls/zweb2/webproc4_1?pf3511=57388.
2. Про внесення змін та визнання такими, що втратили чинність, деяких законодавчих актів України [Електронний ресурс]: Закон України від12.2014 №76-VIII – Режим доступу: http://zakon2.rada.gov.ua/laws/show/76-19.
3. Податковий кодекс України від 28.12.2014 року № 72-VIII / [Електронний ресурс]. – Режим доступу: http://sfs.gov.ua/nk/.
4. Гогой І. Ю. Спрощена система оподаткування: переваги та недоліки / І. Ю. Гогой // Управління розвитком. – 2014. – № 5. – С. 78-80.
5. Зубенко В. В. Бюджетний моніторинг: Аналіз виконання бюджету за січень-вересень 2014 року / В. В. Зубенко, А. Ю. Рудик, І. В. Самчинська // ІБСЕД, Проект «Зміцнення місцевої фінансової ініціативи (ЗМФІ-II) впровадження, USAID. – К., 2014. – С. 50-51.