Study on Target Financial Forecasting as an Instrument to Overcome Financial Difficulties: Concept, Technique and Practice

The theoretical, methodological, and practical aspects of target financial forecasting at the micro level, i.e., at the company level, as a new tool for anti-crisis financial management that can help a company overcome financial difficulties and improve its financial position over virtually any time period are examined in this paper. Financial ratio analysis, corporate cash flows, and the Balanced Scorecard are all principles that the study approach and outcomes are built on (in terms of its financial score). The target financial forecasting procedure is described as consisting of an appropriate information-accounting support, a target financial forecasting of the company’s financial position, a target forecasting of the company’s cash flows, and the development of specific events (management decisions) aimed at overcoming the company’s financial difficulties and improving its financial position. Target financial forecasting, according to the author, is an effective technique for financial forecasting in today’s environment since it allows for the construction of a foundation for overcoming a company’s financial challenges and improving its financial situation. The primary areas of the target financial forecasting application are anti-crisis bankrupt company management, management of a company on the verge of bankruptcy, and the growth of a firm’s investment attractiveness (in terms of its financial aspect).

Author(s) Details:

Sergey Krylov,
Academic Department of Accounting, Analysis and Audit, Ural Federal University, Yekaterinburg, Russian Federation.

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