From Chaos to Systemic Business Value

Welcome to my professional resource. I am Dmitry Dodenko, a strategic CFO and practitioner with over 20 years of experience in manufacturing, construction, and trade.

I created FinManagement.com.ua to systematize knowledge on transforming finance departments into strategic business units.

My Professional Philosophy

I do not just manage finances – I create business value.

My goal is to improve efficiency and increase the capitalization of the company. I believe that a strategic financial leader must look beyond the balance sheet and act as a partner in business development.

Real-World Experience & Results

I do not theorize about business; I implement changes that generate cash. Below are selected cases from my career:

Case: Sales System Transformation and UAH 9 Million Profit Growth

• Industry: Metallurgical Industry
• Problem: The traditional sales system ignored actual product margins, and managers’ KPIs incentivized volume over profit.
• Solution: A complete overhaul of the employee incentive system and a shift to a product strategy based on Theory of Constraints (Throughput Accounting / TOC) principles.
• Result: A significant acceleration in asset turnover and a proven increase in monthly net profit by UAH 9 million.
• 🔗 Read a detailed breakdown of the mechanics of this error and my solutions in the following articles:
  • Toxic KPIs: How Misguided Motivation Kills Business
  • How Your “Most Profitable” Product Might Be Killing Your Business
  • Special Orders: Should You Accept a Price Below Production Cost?

Case: Order Portfolio Optimization and Loss Cutting

• Industry: Chemical Industry (Manufacturing and Export)
• Problem: Traditional volume-based planning and a focus on “weighted average cost” obscured the true profitability of contracts.
• Solution: Changing the production and sales planning algorithm, transitioning to Throughput management.
• Result: Generated an additional €50,000 in monthly profit by cutting loss-making contracts that were previously considered profitable. The company began earning more by physically selling less.
• 🔗 The theoretical foundation of this case is covered in the articles:
  • Weighted Average Cost Is a Fiction (&.FINANCIER, No. 1-2, 2010)
  • Costing Traps (Part 2)

Case: Building a Consolidated Accounting Architecture for an International Business

• Industry: Heavy Machinery
• Problem: A large-scale business operating across three countries suffered from a lack of consolidated accounting and operational transparency.
• Solution: Creating the Management Accounting architecture for a specific division from scratch and implementing financial consolidation across three jurisdictions without establishing additional legal entities.
• Result: Full control over currency risks, 100% business transparency for the owners, and real-time cost management.
• 🔗 My methodology is described in the article:
  • Budgeting as a Business Navigation System: From “Shackles” to Modeling

Case: Liquidity Control and Development Project Portfolio Management

• Industry: Investments and Development (Construction)
• Problem: Loss of cost control over remote sites, liquidity shortages, and the complexity of consolidating construction results.
• Solution: Developing a strict budgeting system, implementing the “pre-approval for payment” principle, and building an end-to-end Management Accounting system based on 1C.
• Result: Transitioning from “post-mortem accounting” to strict, real-time cost control. The owner gained the ability to see a project’s financial bottom line during its execution phase.
• 🏆 Industry Recognition: Guest speaker at the CFO Club summer session, analyzing the case: “Practical Experience in Building a Budgeting System in an Investment and Construction Company”.
• 🔗 Article:
  • Related Strategy: Modern Cash Management Opportunities (&.FINANCIER, No. 6, 2007)

Case: ERP System Implementation in Complex Manufacturing

• Industry: Machinery Manufacturing
• Challenge: The lack of a unified information system for managing complex production processes.
• Solution: Architectural design and successful implementation of an ERP system (based on 1C/BAS) from scratch under my personal leadership.
• Result: Complete automation of accounting (including IFRS), transparency of production processes, and minimization of the human factor in determining the financial result.

Why Is This Resource Useful for You?

On this website, you will not find dry academic lectures. I share tools and insights proven in practice:

1. Practical Cases: Deep dives into how to avoid the “cost trap”, make correct pricing decisions, and manage liquidity.
2. Proven Methodologies: I explain the logic behind the budgets, financial models, and regulations I develop and use personally.
3. Expert Analysis: Real-world insights into management accounting, ERP implementation, and strategic planning.

Professional Status

Current Location: Dnipro, Ukraine.

Availability: I am open to professional cooperation and CFO / Finance Director roles within Ukraine.

Credentials:

• ACCA (FM)
• CAP Certified (CIPA Program)
• Expert in IFRS & Management Accounting