Kyiv National Economic University named after Vadym Hetman

Financial Controlling Institute

The Institute was established with Rector's Order No. 673 of 28 October 2009 based on the Decision of the University Academic Council of 25 June 2009.

Objective of the Instituteis to engage into the scientific and practical studies in the field of the financial controlling, and the implementation thereof into practical activities of enterprises and organisations, as well as the teaching process.

Director of the Institute:
Oleh Tereshchenko, ScD, Professor

Authored more than 60 scientific and teaching methodology papers in the fields of corporate finance and controlling. He defended his doctoral thesis "Crisis Management of the Enterprise Finance" in 2005 in KNEU. While working on his thesis, he carried out studies in Zurich University (Switzerland). He underwent internships with Deutsche Bank AG (Germany) and Philipps-University in Marburg (Germany). He authored textbooks on "Financial Activities of Business Entities", "Financial Rehabilitation and Bankruptcy of Enterprises", "Management of the Financial Rehabilitation of Enterprises" and "Financial Controlling". He is an advisor to the Ministry of Finance of Ukraine and the National Bank of Ukraine on the development and implementation of novel approaches toward the assessment of credit risks in accordance with provisions of the European legislation. 

The following is the sphere of his scientific and practical competencies:

  • the organisation of the financial controlling;
  • the value-based management (VBM);
  • the integral financial diagnostics;
  • the anti-crisis financial controlling.

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The Institute represents the philosophy of the financial controlling in its broader sense. It should be interpreted as the "brain centre" of the company providing information and methodological support to financial decisions and co-ordinating specific management sub-systems.In order to attain objectives of the optimisation of financial decisions and the maximisation of the company value, a financial controller operates budgeting, strategic planning, management accounting, financial diagnostics, risk management, financial communication, internal consultancy and control technologies.

Major Tasks of the Institute:

  • the exercise of innovative activities and the pursuit of studies in the field of the corporate finance and controlling;
  • the international scientific co-operation with partner universities, firms and foundations on the basis of the implementation of joint research projects and programmes in the field of the financial controlling;
  • the co-ordination of the implementation of the interdisciplinary and inter-departmental scientific studies in the field of corporate finance and controlling;
  • the organisation of workshops, conferences and roundtables dedicated to pressing issues of the development of the corporate finance and controlling;
  • the implementation of results of the scientific research into the teaching process in order to provide more profound training to specialists in the financial controlling;
  • the improvement of the scientific qualification of the research and teaching staff by involving them into the implementation of the scientific research projects, the creation of conditions for the accumulation of the scientific knowledge and the intellectual property by Master, post-graduate and doctoral students;
  • the transfer of the scientific research results within the scope of the co-operation with the business circles; the development of the innovative entrepreneurship environment.

Scientific Research and Events Organised by the Financial Controlling Institute

Starting from 2010, the Institute has been engaged into the research in the field of the Formulation of the Concept of Financial Controlling in Ukraine in accordance with the plan of the research work. Starting from 2011, the employees of the Institute are involved into the empirical research in the field of Chances and Problems of the Financial Controlling in Ukraine within the scope of the research co-operation with the Controlling Department of Justus-Liebig-Universitaet Gieben (Germany). The Institute has also set up the co-operation with the Finance and Controlling Department of Georg-August-Universitaet Goettingen (Germany) Together with German colleagues, we conduct the research into issues of the value-oriented controlling at enterprises that operate in transitional economies.

The Institute initiated the discussion roundtables serving as a forum for the professional dialogue between researchers and practitioners in the field of the corporate finance and controlling.  Roundtables are regularly held in the Institute for the discussion of pressing issues of the development of the financial controlling. These events have become a logical continuation of a series of scientific discussions on the financial controlling initiated in 2008 at the international symposium "Controlling in Business: Theory and Practice".

Fellows of the Institute:

Natalia Babiak, Candidate of Sciences in Economics, Associate Professor.
She defended her Candidate's thesis on the "Depreciation Policy and Its Impact on the Financial and Business Activities of Enterprises".Since 2006, she has worked as an associate professor with the Enterprise Finance Department. She co-authored 3 textbooks and published more than 20 research papers and education methodology publications. The following falls within the sphere of her scientific and practical competencies:  corporate finance, strategic financial controlling, cost controlling. She is a financial controlling consultant in the corporate sector. She is a member of the Controllers' Association.
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Dmytro Stashchuk,
In 2010, he graduated from KNEU's Master programme in Financial Controlling. He used to work as a financial analyst for a rating agency. He is a post-graduate student with the Enterprise Finance Department. His scientific and practical interests cover the risk controlling and the rating assessment of businesses. He used to be a multiple winner of national scientific paper contests in the field of the risk management.
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Olha Dymnich,
Assistant Professor of the Insurance Department of the Finance and Economics Faculty of KNEU
She graduated from the Finance and Economics Department of Vadym Hetman Kyiv National Economics University in 2001 with a diploma with honours.She studied under the inclusive education programme in the Konstanz University (Germany), the Philipps-University in Marburg (Germany) and the Vienna University of Economics and Business (Austria). She used to work as a re-insurance director for an insurance company. She has more than 10 research papers and has participated in scientific and practical conferences a number of times. The area of her scientific and practical interests covers controlling in the fields of insurance and re-insurance.
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Last redaction: 19.04.20