Alla Cherep

Determining the level of financial and economic security of an enterprise allows assessing the real possibilities to confront internal and external challenges and defining the potential for future development. To develop proposals on assessing this level, the study uses data on machine-building enterprises of Zaporizhzhia region (Ukraine) and applies integral method, regression analysis and normalization. The expert evaluation method was used to form the system of key parameters. The experts were economists, the accounting departments’ and the economic security departments’ members of the studied enterprises. The experts selected six indices that they consider to be the most representative of the financial and economic security of an enterprise. These parameters were used to calculate the integral indicator of the level of financial and economic security of enterprises. Harrington’s approach was used to group enterprises according to their level of financial and economic security (very high, high, steady, satisfactory and unsatisfactory). The calculations have shown that the integral indicator of financial and economic security of the enterprises of Zaporizhzhia region ranged from 0.32 to 0.66 for the period 2014–2018. It was justified that along with the support of financial stability, solvency, business activity, profitability, investment attractiveness and innovativeness and absent sharp changes in the environment, the level of financial and economic security of machine builders will increase from 0.4 to 11.9%.

Acknowledgment
The study was carried out within the framework of the state budget theme (state registration number 0117U000512), Establishment of Business Incubators on the Basis of Innovative Development and Ensuring National Financial and Economic Security (2017–2019), Faculty of Economics, Zaporizhzhya National University.

Innovation processes are vehicles of growth and, therefore, require effective management systems. These circumstances raise the question of how a particular innovation process model influences the features of budgeting implementation at the enterprise. The article aims to figure out the main provisions, which profoundly impact using budgeting for particular innovation process models. Methodologically, this article reviews theoretical approaches and practical basis on innovation process models and peculiarities of using budgeting in this area. Authoritative sources on these issues and the search covering 43 years were observed. This study was also based upon the secondary research data provided by international institutions, such as consulting companies, which help to reveal theoretical foundations and extensive experience in using budgeting practices on innovative companies around the world. Thus, the following statements were identified: an interconnection between the innovation process model and the creation of business units that become budgeting points; specific innovation process models require stage-based budgeting; particular innovation process models demand greater budgeting flexibility. Investigation of these statements led to the discovery: innovation processes models, which require being closed within business units and others that can demand to be more separated; models that are more in need of milestone budgeting; nature of influence flexibility on the efficiency of innovation. The demonstrated findings on features of using budgeting for particular innovation process models can help executives reconsider the existing systems to increase its efficiency.