[The mechanism of financial and property restructuring of the unprofitable agricultural organizations]
2007
Bychkov, N.A. | Mokhnacheva, N.G.,National Academy of Sciences. Institute of Economics, Minsk (Belarus). Centre of Agricultural Economics
Conversion means changing an organizations structure as well as the elements that form its business under the influence of internal or external factors. The main reason for restructuring is low production efficiency reflected in unsatisfactory financial indices, in shortage of working capital, in high level of debit and credit debts. The decision of a problem of property and financial conversion should have complex, system character, including measures both pre-judicial improvement, and excitation of business about an economic inconsistency (bankruptcy). Without serious intra structure transformations in the unprofitable organizations alongside with transparent system of the state help, pricing, crediting, etc. formation of steady economy in agriculture gets long-term character. The program of property and financial conversion of the unprofitable organizations includes: the conversion of labour relations providing optimization of number of workers, transition to contract system; the organizational conversion assuming perfection of organizational structure according to the purposes and tasks of the commercial organization; The conversion of management providing formation of the new functions of management by the organization and its structural divisions; productive conversion directed to the radical transformation of know-how, use of achievements of sciences and technique with a view of increase of a production efficiency; the financial conversion including conversion of debts, payments in the budget, investments facilitating
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