FINANCIAL SUSTAINABILITY AS THE CRITERION OF BALANCED SATISFACTION OF STAKEHOLDERS’ REQUIREMENTS

• Main Author: ROMAN Lichak
• Format: Article
• Language: Russian
• Published: Government of Russian Federation, Financial University 2019-01-01
• Series: Учёт. Анализ. Аудит
• Subjects: финансовая устойчивость; сбалансированное удовлетворение требований стейкхолдеров; устойчивое развитие; бизнес-анализ; денежные потоки; financial sustainability; the balanced satisfaction of stakeholders’ requirements; sustainable development; business-analysis; cash flows
• Online Access: https://accounting.fa.ru/jour/article/view/66
• ISSN: 2408-9303; 2619-130X

The satisfaction of key stakeholders’ requirements is one of the main but the least studied issues in the sustainable development of an economic entity. In spite of this, each company has to harmonize its activities with the stakeholders’ requirements due to the fact that these requirements reflect the economic, social environmental factors of the company’s activities. Therefore, successful implementation of strategic objectives of the company is directly related to the contentment and balanced satisfaction and of the stakeholders’ requirements. Besides, the financial sustainability is the main criterion which measures the opportunities of meeting the requirements of different groups of stakeholders as well as the level of satisfaction with these requirements. The methods of business-analysis are likely to solve these issues, as these methods include special techniques: for example they can first define the key stakeholders and then they can elicit and prioritize their requirements. In order to create the financial base to meet the stakeholders’ requirements, the conception of the balanced cash flow is considered to be appropriate, as if it is applied it will allow to eliminate the gaps between the stakeholders’ requirements and the performance of the company, together with this preserving the financial sustainability.