Directions for improving the management system of accounts receivable and payable of dairy enterprises

The crisis state of the economy contributes to the deterioration of the business environment, while one of the important problems is the state of settlements with debtors and creditors, since the slowdown in business activity creates difficulties with the timeliness of settlements between counterparties. Therefore, the state of accounts receivable and accounts payable as well as the formation of effective mechanisms for managing them, is an urgent area of financial management. During the study, 5 dairy industry enterprises have been selected, for which, using these financial statements, the calculation and interpretation of the main indicators of financial and economic activity in the period 2020–2023 are conducted, reflecting the status and turnover of accounts receivable and accounts payable as well as the ratio between them. Based on the results of a comprehensive study, problems common to the industry in the existing system of accounts receivable and accounts payable management are identified as well as directions for improving the management system are formed. It has been established that in 2022–2023, the general trend is an increase in the volume of accounts receivable and, as a result, a decrease in its turnover. As a result, the value of the ratio of accounts receivable and accounts payable has increased significantly, which indicates the diversion of a large volume of liquid assets from circulation and can lead to loss of financial stability. For dairy industry enterprises, the improvement of the accounts receivable management mechanism remains an urgent direction, aimed at reducing its volume and increasing turnover, which will contribute to increasing business activity and reducing the duration of the operating cycle.

1. Latysheva Z.I., Svyatova O.V., Golovin A.A., Golovin A.A., Zyukin D.A. Assessment of the economic activity of meat processing industry enterprises in the region. Bulletin of the Kursk State Agricultural Academy. 2022;1:77–83. (In Russian).

2. Melnikov B.A., Vlasenko S.K., Chernikova I.A. Import substitution in the national agro-industrial complex as the basis of food self-sufficiency of the Russian Federation. Natural sciences and humanities research. 2023;6(50):327–332. (In Russian). https://doi.org/10.24411/2413-046X-2019-17042

3. Semenova A.M. The impact of the COVID-19 pandemic on dairy production in Russia. Business strategies. 2022;10(6):34–136. (In Russian). https://doi.org/10.17747/2311-7184-2022-6-134-136

4. Zyukin D.A., Sergeeva N.M., Belyaev S.A., Ivanova Yu.A. The state of food security in Russia in the context of self-sufficiency with key types of products. Bulletin of the NGIEI. 2023;4(143):99–11. (In Russian). https://doi.org/10.24412/2227-9407-2023-4-99-111

5. Kosolapova A.D., Tarasova I.N. Optimization of settlements with debtors and creditors as a factor in improving the financial condition of the enterprise. Economics and efficiency of production organization. 2019;30:107–110. (In Russian).

6. Medvedeva O.E., Slukina V.V., Trofimov N.I. Management of accounts receivable in conditions of economic instability. Scientific journal of the ITMO Research Institute. Series: Economics and Environmental Management. 2020;2:170–181. (In Russian). https://doi.org/10.17586/2310-1172-2020-13-2-170-181

7. Shtokolova K.V., Yakovlev N.A., Bushina N.S., Najafova M.N. The state of accounts receivable and accounts payable of enterprises-leaders of the vegetable oils market in Russia. The azimuth of scientific research: economics and management. 2023;12(2(43):74–78. (In Russian). https://doi.org/10.57145/27128482_2023_12_02_16

8. Latysheva Z.I., Najafova M.N. On the change in business activity of the leading enterprises of the flour milling industry in Russia. The azimuth of scientific research: economics and management. 2024;13(1(46):80–83. (In Russian).

9. Posnaya E.A., Enisheva E.S., Yarovaya N.V., Cheremisinova D.V. Improving the process of managing accounts receivable and accounts payable of the enterprise. Current problems and prospects of economic development: Russian and foreign experience. 2021;3(35):18–22. (In Russian).

10. Vlasova O.V., Duplin V.V., Bushina N.S., Kanunnikova N.A. Financial stability of the leading enterprises of the dairy processing industry in Russia. Bulletin of Eurasian Science. 2023;15(3). (In Russian).

11. Vlasova O.V., Duplin V.V., Dorenskaya I.N., Bushina N.S. Features of accounting for loans and borrowings at enterprises of the dairy industry in Russia. Bulletin of the Altai Academy of Economics and Law. 2024;4–2:198–203. (In Russian). https://doi.org/10.17513/vaael.3381