Approach to assessment of financial stability of industrial enterprises as a basis of sustainable development

Management of sustainable development of industrial enterprises is the basis of the strategy of sustainable development of Russian economy. Industry is a strategically important sector, which makes it necessary to assess the sustainability of its development. The purpose of this study is to develop tools for assessing the financial stability as a basis of sustainable development of industrial enterprises (using the example of the manufacturing industry) that support the decision-making process. The sustainability depends on the financial status of industrial enterprises. A system of indicators for assessing the financial status of an industrial enterprise was formed. Each indicator was assigned a normative value ​​reflecting the specifics of the industry. A toolkit for forecasting the indicators was created, based on the hypothesis that the level of financial stability is associated with a real option. The approach provides a finite number of states characterized by the ratio of these indicators. The whole set of possible outcomes can be divided discretely depending on the ratio of the studied indicators and their normative values. It is expedient to compare two graphic images: one reflecting the ratio of current indicators and one reflecting the ratio of future indicators. The formulated fixed descriptions of the octant are recommendations for making managerial decisions and serve as tools for the executive staff of the enterprise. The formulated approach is aimed more at assessing sustainability in the short term, as it describes two conditions of financial stability of the enterprise. In this case, development is also characterized by a vector of dynamics of the studied indicators. The distinctive features of the proposed toolkit are as follows: the possibility of obtaining specific recommendations based on assessing the sustainability of the enterprise; the ability to qualitatively evaluate the vector of sustainable development of the enterprise taking into account the external environment, the dynamics of the industry and the current and forecast the financial status of the enterprise; the ability to customize the parameters of the toolkit by changing the regulatory indicators, the depth of retrospection of accounting and financial reporting data, which allows the manager to adapt the toolkit for different categories of tasks and users. However, it is necessary to take into account the limitations of the developed toolkit that can form the basis for further research: the specifics depends on the manufacturing industry, which necessitates industrial diversification of the toolkit; further formalization of the tool by finding approaches to estimating the probability of the sustainable development scenario; taking into account the time factor in the model and constructing a vector of sustainable development.