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The present review analyzes the problem of accumulation and utilization of bark and bark-wood waste from wood-working and pulp and paper industries. The methods of utilization are systematized, which differ for "fresh" bark and bark-wood waste of a long shelf life. The essence of biotechnological methods of deep biotransformation of bark-wood waste of long shelf life is described in more detail: composting with the use of mineral fertilizers, stimulation of native microflora, use of activated sludge and artificial consortia of microorganisms, creation of biotechnical systems in the body of bark dumps, solid-phase fermentation of bark-wood waste by xylotrophic fungi. Successful examples of the implementation of methods of biotransformation of bark-wood waste of long-term storage in the bark dumps of pulp and paper enterprises of the Perm Region of Rusian Federation are given. The algorithm of utilization of bark-wood waste by solid-phase fermentation with the help of xylotrophic fungi at the bark dumps of Syktyvkar woodworking plant (Republoc of Komi, Russia) is proposed in order to obtain soil-like substrates and fertilizers, fruit bodies of edible xylotrophic fungi and valuable fungal metabolites for medicine.

The purpose of the study is to study approaches to the financial analysis of current assets and theefficiency of the use of the company's working capital in a theoretical and practical aspect, substantiation ofthe need to form a comprehensive approach before carrying out such a financial analysis in the enterprisemanagement system.The scientific result of the study is the formation of a comprehensive approach to the financial anal ysis of the current assets of the enterprise and its important elements, which is relevant in the modern marketconditions of the operation of the enterprise and includes the analysis of its dynamics, structure, turnover,financial cycle of operating activities, the impact of changes in current assets and their turnover on liquidity ofassets and financial condition of the enterprise. The practical significance of this work is aimed at the use ofthis approach to the financial analysis of current assets and the use of working capital as a tool in the management system of the operational activities of enterprises to ensure the efficiency of their functioning andmanagement. The possibility of economic transformation of the operational activities of agro-industrial complex enterprises in modern conditions to ensure the preservation of domestic producers and their activities inUkraine has been considered.

Subject. This article investigates the impact of investors' expectations on the capitalization of publicly-traded corporations of Russia stock market. Objectives. The purpose is to assess the impact of investors' expectations on the capitalization of corporations that are publicly traded on the Russian stock market, to expand tools for assessing the expected return of investors. Methods. The study employs models for assessing the profitability of financial assets, namely, Capital Asset Pricing Model (CAPM) and modified CAPM, as well as general scientific and statistical methods for analyzing economic processes. Results. Using the CAPM, I determined expected profitability of twenty Russian publicly-traded companies, operating in the electric energy, oil and gas, and metallurgical sectors of the economy, and assessed the model’s effectiveness. Based on the tools of correlation and regression analysis, I estimated the impact of expected return of investors on changes in company capitalization. The paper reveals the relationship between investors' expectations and changes in the capitalization of Russian corporations. Conclusions. The modified model showed higher forecast efficiency compared to the classical model. There is a strong correlation between expectations of investors, determined under the modified model, and changes in Russian corporations’ capitalization. This enables the company management to influence the market value of the enterprise. The findings may be useful for investors, to enhance the forecast accuracy and make appropriate investment decisions, and for corporate management, to assess the value of company's equity capital, forecast the movement of stock prices, and influence the company's capitalization through the proposed model.

Subject. We investigate the balance of enterprise development in the aviation, trade, and metallurgical industry for 2007–2019. Objectives. The aim is to analyze the sustainability of enterprise development in the said industries, identify factors, having an adverse impact on the balanced development of companies, subject to industry specifics, and ways to achieve the sustainable development of these companies. Methods. The balanced growth model (SGR) and general scientific and statistical methods to analyze economic processes serve as the methodological basis of the study. Results. We analyzed the sustainability of 13 companies on the basis of the balanced growth model. The sample includes companies operating in the aviation, trade, and metallurgy industry. The paper reveals factors that have a negative impact on balanced development, subject to industry specifics, and shows directions of achieving sustainable development of enterprises included in the analysis. Conclusions. The growth of aviation companies is not sustainable, due to losses in certain periods and a high level of dividend payments. To achieve a balanced growth, it is necessary to optimize the price and dividend policy, and reduce costs. The main problems of trading companies stem from a decrease in the level of net profit and incurred losses. The major internal factors, adversely impacting upon sustainable development of metallurgical enterprises, are unreasonably low or high-risk financial leverage, and low profitability or loss-making activities. To neutralize the negative impact of identified problems, it is important to form an optimal capital structure and develop an effective cost management system.

The physicochemical parameters of spherical amorphous nanoparticles (SANPs), consisting of a mixture of triterpenoids of birch bark (MTB) with 20-hydroxyecdysone (20E), are studied. The nanoparticles are obtained by injection and investigated by electron microscopy, dynamic light scattering, and UV spectroscopy. In the studied series of concentrations of 20E from 5 to 20 wt %, in relation to the mass of the MTB, the optimal concentration is 20E 10 wt %; at this concentration, the most stable nanodispersions are formed in water, 20E is fully included in the SANPs, their average size is 193.1 nm, they are characterized by a narrow polydispersity interval, and they have the greatest absolute value of the ζ-potential. Ecdysteroid-containing SANPs of this composition can be recommended for use in medicine as prolonged forms of ecdysteroids as radioprotective and other pharmacological agents.

The article considers the role and importance of information technology in the field of educationalservices and innovative teaching methods. It has been determined that the use of information and communication technologies in the teaching process in higher education institutions is a necessity that has been accompanied by challenges of the world space, in particular in recent years. It has been determined that therole and mission of the teacher in the educational process is transformed into an organizer, consultant, leader and expert of independent work of students. The importance of modern information and communicationtechnologies in the process of teaching and educational process has been substantiated. The advantagesand disadvantages of distance learning, which is caused by the requirements for the adaptation of the worldspace have been identified. The essence of the concept of "innovation" and systematized modern innovativeteaching methods have been studied. The classification of innovations in the field of education and classification of pedagogical technologies has been given. Modern innovative teaching methods have been systematized.

A course of medication with the Kardisten dietary supplement normalizes an elevated blood cortisol level and optimizes the activity of brain vasculature to improve the functional state and enhance short- and long-term memory performance, especially in subjects younger than 50. Kardisten evokes a more pronounced decrease of cortisol level and improves memory performance more efficiently in the case of initial organic changes in the brain vasculature as compared to advanced atherosclerosis. Kardisten activates the natural mechanisms of enhanced functional capacity in the human organism, exerts a favorable effect on mature and elderly persons, and can be recommended for physical and mental health improvement and the preservation of an active lifestyle during aging.

The effects of the leaves of the crown-shaped saw-wort (Serratula coronata L.) used in the water infusion on the young sheep growth rates and serum biochemical profile have been studied. In the context of the deficient protein and excessive dietary fiber intake, a positive tendency for increasing the lamb growth rates dependent on the daily dosage of the crown-shaped saw-wort infusion was revealed. The young stock consuming a 300- and 400-mL infusion a day could increase their live weight over a 2-month period of the experiment by 1.68 kg and 1.86 kg more or 17.9 and 19.9% higher, respectively, than that in the reference animal group, respectively. Increases in the serum albumin level and the albumin : globulin ratio up to 24% and a simultaneous decline in the urea concentration to 28% were registered. It is shown that, under the effects of ecdysteroids, there is a tendency to normalize the blood glucose level in the young sheep as a result of the activation of the gluconeogenesis due to reamination of the amino acids. This has been proven by elevating the levels of aspartate aminotransferase (AST) and alanine aminotransferase (ALT). The obtained data on the multifaceted metabolic effects of the crown-shaped saw-wort infusion allows us to recommend it as a feed additive improving the growth performance of the young sheep.

The value of the company is one of the key indicators of the investment attractiveness of the company’s securities and, as a result, an instrument of investment stimulation. In the context of the smart economy, the ways and principles of business entities activity suffer qualitative changes. In particular, financing models are transforming, which confirms the need to study the impact of the digitalization on the country’s investment climate and determines the current importance of this topic.

The article examines the economic literature on the approaches to the analysis of receivables of theenterprise. The sequence of receivables analysis has been made by stages: definition of purpose, objects,tasks of analysis, work on sources of information, quantitative and qualitative analysis of receivables,evaluation and generalization of analysis results, development of appropriate recommendations to improvethe efficiency of the enterprise. The system of indicators for the qualitative analysis of receivables of theenterprise has been generalized. According to the proposed system of indicators, the relevant calculationswere made on the example of the food industry enterprise and recommendations were given to improve thestatus of settlements with debtors. The analysis carried out in this sequence will allow to assess the realstate of receivables of the enterprise, as well as to identify problematic aspects of receivables management,to develop measures to reduce overdue and doubtful receivables.

The article deals with the structure of the company's own capital and the definition and formation ofits individual elements, such as registered and reserve capital, in accordance with the normative accountingdocuments and legislative acts of Ukraine. The classification of the equity (invested and accumulated capital) of the enterprise by the National (Regulation) accounting standard 1 "General requirements for financialstatements" and by sources of its formation has been considered. The necessity of formation and use of acomprehensive approach to the financial analysis of the company's equity in the management system hasbeen analyzed and substantiated. The scientific result of the research is the formation of a comprehensiveapproach to the financial analysis of the equity of an industrial enterprise, which is relevant in the currentmarket conditions of operation of enterprises and covers the analysis of its dynamics, structure, turnover,profitability, risk and its protection. The calculations according to the formed approach have been made onthe basis of data of the enterprise of confectionery industry. The practical importance of the work is directedto the application of this method of equity analysis as a tool of financial analysis in the modern conditions ofmanagement of industrial enterprises to ensure the efficiency of their activities and management.

The article examines the current tendencies of entering the oil and fat subcomplex of Ukraine intothe world markets. It has been revealed that oil crops and their products are the main export commodity inagro-food export of the state. The large scale production of the sub-complex products, with modest domesticconsumption, is first and foremost associated with successful integration into international trade. Foreigntrade thus becomes an important factor in the development of the subcomplex. Considering the complexityand multidimensionality of the problem, the main segments of the market - oilseeds, oils and oilcake - arehighlighted in the research. On the basis of statistical data, the analysis of export volumes, dynamics, position on the world market and opportunities for their strengthening were made. It has been established thatUkraine, as a powerful producer and active participant in the world market, influences, to some extent, theexcess of world production over consumption of oil and products of their processing, which leads to a decrease in export prices and, as a consequence, to a loss of export earnings of domestic exporters. The studysubstantiates the need to improve the structure of production of oilseeds, the balance of use of soybeansand rapeseed, constant monitoring of the situation in foreign markets.

The article emphasizes the importance of the interdependence of managing the economic efficiencyof economic activity at the macro level and the micro level, considering that management efficiency was firststudied as an independent concept as a result of pressing issues of the present time, such as quality,efficiency, solvency, stability, optimality, reliability. The concept of efficiency in the context of the economiccategory has been considered, the main types of efficiency have been defined. The difference between theconcept of efficiency and effectiveness has been justified. Theoretical and practical aspects of the analysis ofthe effectiveness of the business entity's activity have been stated. Characterization of the fundamentalapproaches and methods of analyzing the effectiveness of the enterprise has been given. As a result of theresearch targeted, systematic, individual and integrated approaches to determining performance have beenemphasized. It has been suggested to use complex and individual approaches to evaluate the effectivenessof the enterprise activity, which should take into account the specificity of the sphere of activity. The systemof criteria and indicators of the analysis of efficiency of the enterprise activity has been presented,generalized and investigated.

The influence of water infusion of sickle leaves (Serratula coronata) on the growth of young sheep and biochemical profile of blood serum was studied. Against the background of protein deficiency and excessive fiber feeding, a positive trend of increasing the growth rate of lambs depending on the daily dose of the infusion of the sickle was revealed. Young animals, receiving 300 and 400 ml of infusion per day, increased their live weight for two months of experience by 1,68 and 1,86 kg more control, or 17,9 and 19,9%, respectively (p ≥ 0,05). An increase in serum albumin and A/G coefficient to 24% (p ≥ 0,05) while reducing urea to 28% (p ≤ 0,05). It is shown that under the influence of ecdysteroids there is a tendency to normalize the level of glucose in the blood of young animals as a result of the activation of gluconeogenesis due to the reamination of amino acids. This was confirmed by an increase in the activity of aspartate and alanine aminotransferase. The obtained data on the multifaceted metabolic effects of the infusion of sickle crowned allow us to recommend it as a feed additive that increases the growth rate of young sheep.

The aim of this work was to evaluate the effect of Serratula coronata L. on protein metabolic and bioproduction processes of ewes with lambs at foot on the basis of experimental data on the body weight gain of the suckled lambs and the biochemical composition of blood serum of ewes. On the background of a diet with insufficient energy value, a long-lasting lactogenic effect (25%) was observed after feeding lactating ewes with dry mass of leaves of Serratula coronata L. with the calculated content of phytoecdysteroids. A significant increase of total protein and albumin in serum was found, while urea was reduced. Furthermore, the level of gamma-glutamyltransferase activity was higher than in controls, indicating greater involvement of body proteins in metabolism. The glucose content in the blood serum of experimental animals is lower than in the controls. However, activation of gluconeogenesis through transamination of amino acids did not happen. Based on the data of the diverse metabolic effects of phytoecdysteroids contained in the leaves of Serratula coronata, the prospect of creating new feed additives for increasing the milk productivity of lactating ewes and getting healthy lambs was discussed.

The synthesis of the control with the optimal trajectory length is constructed for the problem of aligning an aircraft with the desired track with the ground speed vector direction along the desired track. The solution is based on the maximum principle and involves the use of numerical methods for solving the boundary value problem and analytical investigations for determining the set of possible extremals and comparing the lengths of the trajectories when selecting the optimal one. As a result of these investigations, the switching and separation lines are determined that bound the regions in the phase space which correspond to different values of the optimal relay control.

The article investigates the definition of the essence of the category «credit indebtedness» in termsof domestic legislation and according to domestic and foreign experts in the field of accounting. The criteriafor classification of credit indebtedness by maturity have been studied, the optimal stages of managem ent ofcredit indebtedness have been determined. The authors established the positive and negative consequences of the enterprise’s accumulation of credit indebtedness amounts. Studying the correspondence ofcredit indebtedness amounts, establishing the causes of its formation and maturity, determining the turnoverterm, checking the existence of overdue and hopeless credit indebtedness, checking the reliability of reflecting amounts of credit indebtedness are the key points in the analysis, estimation and efficiency of management of the size of the enterprise credit indebtedness. The skillful management and maneuvering of theamounts of credit indebtedness is a defining moment in the further development of the activity and prosperityof the enterprise itself.

The article examines the approaches to the methodology of conducting financial results of theenterprise in scientific works and papers that have a practical focus, as well as in accordance with nationaland international Accounting Regulations (standards), which control the order of their formation andreflection in the financial statements.The financial results of the activity of the enterprise according to the materials of the financialstatements of the food industry enterprise for three years have been analyzed with the factor analysis ofthe financial results using the additive model. The application of the complex methodical approach to theanalysis of financial results of the enterprise activity, which covers the analysis of the composition,structure, dynamics of incomes and expenses of the enterprise, the analysis of the formation, structureand dynamics of changes in the financial results of the enterprise, both in general and by individual types,the factor analysis of the financial results formation with the use of the additive model, taking into accountthe factors of the first, second and third order, the analysis of profitability (products, prodaction, capital) ofthe company, allowing to develop increase of positive trends as fo its financial results, have been offered.

The article examines the essence of the concept of "equity capital" and conceptual approaches to itsdefinition and classification. It has been determined that the concept of "capital" has had roots since antiqu ity, and meant a source of accumulation of wealth. However, in today's conditions of the market system capital is generalizing and at the same time varied, because it covers intellectual, natural, social capital. The importance of the correct calculation of structural equilibrium, which is a guarantee of financial competitiveness,financial stability and solvency in modern fast financial, economic and legislative changes, has been substantiated. Three approaches to the classification of the structure of the enterprise according to the normativelegislative base (national and international) and practical aspect has been determined. The practical analytical analysis of the equity structure based on the financial statements of the enterprise indicates that the equity of the enterprise in the current conditions of management decreases, in particular, by increasing the uncovered loss. The advantage of debt capital in the form of payables proves the need to make optimal decisionson timely control and adjustment of the capital structure of the enterprise due to the dynamics and featuresof socio-economic and financial processes in Ukraine.

The course intake of the nutritional supplement «Kardisten» normalizes increased levels of cortisol in the blood, optimizes the activity of the vessels of the brain, improving the functional state and leading to an increase in the productivity of short-term and long-term memory, more pronounced in the group of persons up to 50. At initial organic changes in the brain vessels, «Kardisten» significantly reduces the level of cortisol, increases to a greater extent the productivity of memory than at atherosclerosis. «Kardisten» activates the natural mechanisms of increasing the functional capabilities of an organism, exerting a beneficial effect on the body of adults and the elderly people, and can be recommended for the correction of physical, mental health and preservation of active longevity.Курсовой прием БАД «Кардистен» нормализует повышенный уровень кортизола в крови, оптимизирует деятельность сосудов головного мозга, улучшая функциональное состояние, приводя к повышению продуктивности кратковременной и долговременной памяти, сильнее выраженному у лиц до 50 лет. При начальных органических изменениях сосудов мозга «Кардистен» значительнее снижает уровень кортизола и в бо́льшей степени повышает продуктивность памяти, нежели при выраженном атеросклерозе. «Кардистен» активизирует естественные механизмы повышения функциональных возможностей человека, оказывая благотворное влияние на организм лиц зрелого и пожилого возраста, и может быть рекомендован для коррекции физического, психического здоровья и сохранения активного долголетия.

Phytoecdysteroids (at doses of 5 and 15 mg/kg of body mass per day) in the aqueous extract of Serratula coronata L. were administered toWistar rats for 15 d, did not have adverse effects on the thymus, and did not increase apoptosis rat in heart, brain, and thymus cells. The apoptosis rate in thymus cells of animals exposed to an electric shock increased statistically significantly relative to intact controls. The thymus mass did not decrease statistically significantly in stressed rats that received the phytoecdysteroid extract as compared with stressed animals that did not receive it. The apoptosis rate characterized by the DNA-damage level and number of apoptotic cells was also diminished in the thymus of stressed rats that received the extract. The results confirmed the safety of using phytoecdysteroid extracts in food and indicated that this extract inhibited the general adaptation syndrome of the rats.

Surface-enhanced Raman spectroscopy-active nanocomposites of silver and graphene oxide were obtained by ultrasonic aerosol spray pyrolysis of graphene oxide suspension in diamminesilver(I) hydroxide aqueous solution thus allowing one to tune silver nanoparticle load, size and an overall specific area of the nanocomposite.

The clarification of the molecular mechanisms of the effect of a plant adaptogen’s active substance is a topical study direction. In the present work, we studied the effect of phytopreparations containing the Serratula coronata L. phytoecdysteroids (20-hydroxyecdysone and inocosterone) or the Trigonella foenumgraecum L. steroid glycosides (dioscin and protodioscin) on the expression of stress-response genes, stress resistance, and the life span of the Drosophila melanogaster. It was demonstrated that phytopreparations activate the mechanisms of antioxidant protection (Sod1), but reduce the level of induction of DNA repair (XPF and Rad51) and the apoptosis (Hid) genes. At the same time, the studied phytopreparations have a moderate adaptogenic and geroprotective effects associated with activation of the hormesis mechanisms.