ISSUES IN FINANCIAL CONTROLLING OF EDUCATIONAL SERVICE ORGANIZATIONS AND OTHER BUSINESS ENTITIES

Abstract

The article addresses current challenges in financial controlling of business entities, particularly in the sphere of educational service provision in Ukraine, amid the transformation of the national education system and evolving approaches to funding. It is emphasized that effective management in such organizations relies heavily on highquality informational support for decision-making, which is ensured through financial controlling. The study examines the theoretical and methodological foundations of this discipline, identifies gaps in definitions, functions, and methods of implementation, presents both international and domestic practices, and offers an original definition of financial controlling. Special attention is given to the fact that business entities, including educational service providers, share both common and distinctive features regardless of their ownership structure. Moreover, the educational process itself is characterized by a complex structure that requires specific financial analysis and planning. The article proposes a conceptualization of financial controlling as a subsystem of general controlling, integrating functions of monitoring, analysis, planning, and adjustment of financial processes to achieve stability, efficiency, and strategic development. The paper also explores the barriers to implementing controlling in educational institutions. These include a lack of economic knowledge among management, skepticism toward the system due to the absence of immediate results, and difficulties in recruiting qualified personnel. An algorithm for integrating financial controlling into the management system is provided, along with a description of its functions and potential benefits, including improved solvency, cost optimization, and enhanced transparency in decision-making. It is noted that financial controlling in the education sector contributes to forecasting the cost of educational services, managing grant mechanisms, and identifying financial reserves. The article concludes that a systematic, phased approach to implementing financial controlling is essential, taking into account the operational realities of the business entity and the prospects for further development of its management mechanisms.