Figure 2 - uploaded by Nataliia Vavdiiuk
Content may be subject to copyright.
Source publication
In the article we investigate the problem of determining the main factors of increasing the profitability of agricultural enterprises in order to effectively use the resource potential of agricultural producers. In this study, we used a set of modern scientific methods, among which we highlight such methods as factor analysis, structural analysis,...
Context in source publication
Similar publications
The essence and role of profit in forecasting the development of agricultural production are investigated in the article. The value of profit in modern conditions as an important driving force of the economy is determined and proved. It is revealed that forecasting the development of agricultural business is a set of studies of economic activities...
Citations
... The main condition of technical and technological re-equipment in agricultural firms is to ensure capable and steady operations to cultivate an innovative ideal in terms of expansion in production on the basis of quality improvement, environment affability and technical brilliance thus, increases the competitive advantage in both domestic and foreign markets therefore profitability increase (Shmatkovska, et al., 2022). ...
Costing techniques have great impact on life and global economy especially the profitability levels of Agricultural companies in the Nairobi Securities Exchange (NSE). The profitability levels in the Agricultural firms in Kenya have declined, stagnated or suffered losses in the recent past leading to price fluctuations hence low profitability levels. The drive of this study was to investigate the costing techniques and profitability trade off of agricultural firms listed in the NSE. Specifically the study sought to establish the effect of job costing on determination of the level of profitability in the quoted agricultural firms in NSE. The study was steered by transaction cost theory and applied descriptive research design. The target population of seven (7) listed agricultural firms listed in the NSE, hence adopting the census technique where all the seven respondents were used. Data collection sheet was used to obtain secondary data from audited published financial statements of listed agricultural firms in NSE. The period of the study was five years from 2018 to 2022. The data collected was analyzed using descriptive statistics that were summarized using mean and standard deviation. Diagnostic tests used to test the research hypothesis included tests of normality, autocorrelation, collinearity and linearity tests. Correlation, regression analysis and multiple linear regression models was carried out to show whether and how strongly changes in costing techniques were related to firms’ profitability and to determine the association amongst costing techniques and profitability. The findings were presented in figures and tables and prose form for its discussions. Job costing had a significant effect on the profitability of agricultural firms listed in the NSE when measured alongside other costing methods. Both the coefficient is positive (β1=0.565) and the p-value is lower than 0.05, indicating statistical significance. The recommendation to the industry is to prioritize Job Costing given its significant positive effect on profitability of agricultural firms should consider implementing and expanding its use. Firms using other costing methods should reassess their effectiveness and consider integrating Job Costing elements into their existing systems. For academia, conduct more studies to authenticate these findings across different contexts, firm sizes and geographical locations within the agricultural sector. Emphasize on Job Costing method in accounting and agricultural management curricula while still maintaining a balanced approach to other costing methods. For policy formulators, consider policies that encourage or incentive the adoption of Job Costing method in agricultural companies like, tax benefits or grants for implementation and developing guidelines or standards of costing.
... Maximizing profits while operating within the constraints of accessible resources is a fundamental priority for businesses. These resources encompass financial and credit assets, material support essential for production, and the requisite skills needed for the workforce to carry out their tasks effectively [1]. ...
... The key lies in effectively utilizing production resources and adopting advanced techniques to produce crops [3]. It is crucial for businesses to prioritize maximizing their profits within the limitations of available resources, including financial and credit resources, material support for production, and the necessary skills to carry out the tasks of the workforce [4]. 2 of 11 Precision Agriculture (PA) is one of several methodologies that can improve farm management by providing timely, thorough, site-specific crop information within a decisionmaking framework. ...
Profitability is not given the necessary attention in contemporary precision agriculture. In this work, a new tool, namely ProFit, is developed within a pre-existing farm management system, namely ifarma, to assess the profitability of precision agriculture applications in extended crops, as most of the current solutions available on the market respond inadequately to this need. ProFit offers an easy-to-use interface to enter financial records, while it uses the dynamic map view environment of ifarma to display the profitability maps. Worked examples reveal that profitability maps end up being quite different from yield maps in site-specific applications. The module is regulated at a 5 m spatial resolution, thus allowing scaling up of original and processed data on a zone-, field-, cultivar-, and farm-scale. A bottom-up approach, taking advantage of the full functionality of ifarma, together with a flexible architecture allowing future interventions and improvements, renders ProFit an innovative commercial tool.
... The key lies in effectively utilizing production resources and adopting advanced techniques to produce crops [3]. It is crucial for businesses to prioritize maximizing their profits within the limitations of available resources, including financial and credit resources, material support for production, and the necessary skills to carry out the tasks of the workforce [4]. ...
Profitability is an underestimated concept in precision agriculture. In this research, a new module is developed within a pre-existing farm management system to assess the profitability of precision agriculture applications in extended crops. The module is regulated on a 5-meter spatial resolution, thus allowing scaling up of original and processed data on a zone-, field-, cultivar-, and farm-scale. A bottom-up approach, taking advantage of the full functionality of the farm management system, together with a flexible architecture and an easy-to-use interface, renders the new module an innovative commercial application.
... Another area of research is the analysis of alternative renewable energy sources, namely: Wind, sun, the use of solid (wood) raw materials and agricultural waste, as the basis for providing energy systems , Wisz et al., 2018Shmatkovska et al., 2022;Danko et al., 2020;Heldak et al., 2018;Zhuk et al., 2014;Maksymiv et al., 2021;Zelinska et al., 2021;Popadynets and Maksymiv, 2016). These researchers consider both the world experience in attracting the best practices in alternative energy and the formation of the latest trends in the development of renewable energy sources. ...
The lack of a proper system for the use of energy resources is a nationwide problem in Ukraine. Payment for the consumed services for energy carriers mainly formed according to “consumption rates”, which can significantly ex-ceed the actually received amount of services and leads to an unjustified in-crease in the cost of energy resources. All this requires a search for new tools to stimulate energy intensity, effective accounting of the total volume of ener-gy consumption and the introduction of the best foreign experience in the field of energy saving in Ukraine. The analysis of energy consumption in the coun-try made it possible to identify the existing problems that subsist in the energy sphere today and provided an opportunity to propose ways to eliminate imbal-ances. The proposed methodology makes it possible to build models for estab-lishing the relationship between energy intensity and final energy consump-tion in Ukraine. Evaluation of foreign European experience makes it possible to implement the most necessary reforms and measures in domestic practice to improve the sphere of energy consumption.
... However, approaches to understanding the essence of such management are debatable and can be interpreted differently by different researchers. In particular, it is necessary to note the significant contribution to the study of practical aspects of enterprise asset management, which was made in the works of such scientists as N. Barabash [3], A. Boiar [4], R. Mann [5], I. Oleksandrenko [12], T. Shmatkovska [16], O. Stashchuk [17], V. Varenyk [19], V. Yakubiv [20], V. Zhuk [21] and others. ...
... Livestock production depends on various external factors, such as growing demand for livestock products and issues associated with the supply of feed raw materials caused by competition for natural resources and trade barriers (Bartl et al. 2009;Leroy et al. 2022;Shmatkovska et al. 2022). There is growing concern about food's impact on human health, as well as the impact of production systems on animal welfare and the environment (Artmann et al. 2020;Reissig and Lebendiker 2021;Cockshaw 2021). ...
Goats are important livestock species for meat and milk production. Meeting goat nutritional requirements is essential in maintaining goat health and the quality of derived food products. Dietary supplementation with certain bioactive compounds can improve the quality of diet and help to create a productive and economical nutrition program. The aim of this study was to evaluate the effect of several feed additives on the milk productivity of Saanen goats. According to the method of pairs of analogues, 72 dairy goats were distributed into four groups (18 goats/group): the control (CG) –
the conventional diet with no additives: the experimental groups 1 (EG1) - the diet with 10% extract of balsamic poplar buds; the experimental groups 2 (EG2) – the diet with vegetable protein hydrolysate; the experimental groups 3 (EG3) – the diet with 10% extract of balsamic poplar buds with activated charcoal (EG3). Supplementation of feed with
balsamic poplar buds increased goat's milk productivity by 34.2% without compromising milk quality, which was evaluated by the amount of milk and contents of milk fat and protein. Supplementation of feed with balsamic poplar bud extract and activated carbon contributed to an increase in milk yield by 25%. Such, using phytobiotic feed additives
is a promising method in animal husbandry.
This research examines the main historical, geographical, technical, technological, and geological aspects of underground coal mining in the Lviv-Volyn coal basin. It emphasizes the environmental challenges that have arisen due to extensive exploitation of the basin’s coal deposits. Key directions of environmental pollution are identified, and their cumulative impact on both the local settlements and the broader coal region’s ecosystem is analyzed. Particular attention is given to the degradation of land, water, and air quality, as well as the socio-economic consequences for communities reliant on coal mining. The article proposes comprehensive solutions to address these environmental challenges, including technological upgrades, reclamation projects, and policy interventions. It underscores the necessity of adopting state-level strategic documents aimed at transforming Ukraine’s energy sector. These strategies focus on minimizing coal dependency in energy production to ensure sustainable environmental management. Moreover, the study advocates for a systematic approach to resolving legacy environmental issues, fostering the development of alternative energy sources, and promoting green technologies. Findings aim to contribute to a broader discourse on balancing energy needs with ecological preservation, offering practical recommendations for transitioning toward a more sustainable energy framework in Ukraine.
The purpose of the article is to form a clear understanding of the approaches to calculating the profitability of domestic enterprises in wartime conditions, to analyze the current state, and to determine the directions for increasing the profitability of logistics company «Nova Post». During the course of the work, general research methods such as comparison, statistical grouping, structuring, forecasting, and a systematic approach were applied. The conducted research provides grounds to establish that at the current stage of economic development, the profitability indicator plays a leading role in the analysis of enterprises' activities. The importance of this indicator is revealed during the analysis of the activities of economic entities in wartime conditions, as it allows for the most comprehensive and detailed assessment of resource efficiency and overall profitability of the enterprise, considering certain challenges in the legal, economic, and socio-political environment of the state. It has been established that under peaceful conditions and market economy (throughout the country), as well as under hybrid warfare conditions in the part of the territory where market relations are maintained and there are no military operations, three groups of indicators should be used to calculate enterprise profitability: cost, income, and resource. Under the introduction of martial law and full-scale military operations, it is advisable to calculate enterprise profitability based on the profitability indicators of the enterprise personnel, as the national economy during the war effectively switches to a command-administrative system. For the successful development of the logistics company «Nova Post», it is necessary to constantly work on finding appropriate directions for increasing its income and the level of profitability. If the enterprise aims to maximize profit, it must either reduce expenses or increase net revenue. The most effective directions are: increasing the number of parcel terminals; selection of qualified and responsible employees; return of the bonus system; expansion of branches in other countries, particularly in Germany. A project to open 8 delivery service offices of logistics company «Nova Post» on the territory of Germany has been proposed and substantiated.
Profitability is a complex notion, intertwined with theoretical, socio-economic, and modern economic considerations. While traditionally linked to monopoly advantages, contemporary views broaden this to include shareholder value creation. In agriculture, profitability faces impediments such as rising input costs, market volatility, and economic disparities, emphasizing technological innovation, market conditions, and policy as crucial determinants. This study presents an econometric simulation model to analyze and forecast wheat production profitability in Poland from 2023 to 2027, providing insights into production efficiencies, market dynamics, and policy impacts. Using a system of recursive equations, the model forecasts profitability, integrating econometric techniques with expert insights. It examines variables like resource use, production levels, and price changes, validated through FADN data. The findings reveal that price relations and production efficiencies are the key to profitability. The model highlights market volatility, particularly through “price scissors”, as the main factor influencing profitability. Favorable price conditions significantly boost profitability and incentivize production. The model is a critical tool for analyzing wheat profitability, highlighting the influence of market and policy changes. Future work could extend the model’s use to other regions or crops, incorporating advanced technologies to improve accuracy. This study offers valuable insights for agricultural economics, aiding stakeholders in strategic decision-making.
