MODERNIZATION OF ACCOUNTING OF FINANCIAL RESOURCES IN THE PUBLIC SECTOR UNDER THE CONDITIONS OF THE REFORM OF THE PUBLIC FINANCE MANAGEMENT SYSTEM AND STRENGTHENING OF FINANCIAL SECURITY
Authors: DEMIANYSHYN Vasyl , KOSTETSKYІ Volodymyr , DEMIANYSHYN Vasyl 
Published: May 2023

Introduction. Reforming the public finance management system, including modernization of the accounting of financial resources and strengthening the financial security of economic entities in the state sector, is one of the most important problems of the Ukrainian government, as well as domestic scientists and practitioners. The scale of such reformation is very large and diverse. They include all components of the economic system of the state, aimed at minimizing the negative aspects of the current management system, expected risks and cover a wide range of practical actions. This would allow to overcome all the difficulties caused by objective, subjective, internal and external factors and contribute to the integration of the Ukrainian economy into the EU.

The purpose of the article is to reveal the modern theoretical, methodological, and practical foundations of modernizing the accounting of financial resources in the state sector in the context of reforming the public finance management system and strengthening the financial security of economic entities, identify positive, negative, and problematic consequences and, based on them, propose development directions and expected implementation results this strategy.

Methods. The work uses dialectical, metaphysical, historical, structural-logical, institutional, functional, and behavioral approaches. The research results are obtained through the application of methods of generalization, analysis and synthesis, induction and deduction, comparison, ascent from the concrete to the abstract and from the abstract to the concrete, estimation, prediction, and others.

Results. The relationship between the reformation of the public finance management system, the directions of modernization of accounting in the public sector, financial resources and the financial security of economic entities is revealed. The strategic goals of the reform of the public finance management system and ways of realizing these goals are described. The most important stages of modernization of the accounting and financial reporting system in the state sector, its goals, approaches to clarifying the content of financial resources, in particular, in the state sector as an object of accounting, are considered. A significant place is devoted to the characteristics of the financial security of economic entities and the directions of its implementation in the state and communal sectors. The most important expected risks that can prevent the implementation of strategic tasks, as well as positive results that can be obtained as a result of the implementation of systemic measures to reform the public finance management mechanism and its individual components, have been formed.

Conclusions. Substantiated are proposals for reforming the directions of modernizing the accounting of financial resources in the public sector in the context of reforming the public finance management system and strengthening the financial security of economic entities. With their effective implementation, they will help accelerate the pace of the country's socio-economic development, improve the living standards of citizens and integrate Ukraine into the European Economic Community, which is the strategic goal of the Ukrainian state.