Финансы и кредит ISSN 2311-8709 (Online) ISSN 2071-4688 (Print) Financial System DEVELOPING THE METHODOLOGY FOR ASSESSING THE FINANCIAL STABILITY OF ORGANIZATIONS OF MANUFACTURING INDUSTRIES Elena A. FedorovAa,*, Sergei e. dovZHeNKob a Financial University under Government of Russian Federation, Moscow, Russian Federation ecolena@mail.ru b Saint Petersburg State University, St. Petersburg, Russian Federation serg.dovzhenko@gmail.com * Corresponding author Article history: Received 4 December 2014 Accepted 28 December 2014 Keywords: financial stability, methods, forecasting, bankruptcy, manufacturing industry Abstract Subject The article deals with enterprise bankruptcy modeling with Russian companies as the target of the research. <...> Objectives The aim of the study is to develop a methodology for assessing the financial stability of organizations operating in manufacturing industries. <...> As the elements of the methodology, we considered the indicators playing a major role in the analysis of financial condition of a company. <...> These indicators include the current liquidity ratio, quick ratio, liquidity ratio in fundraising, financial independence ratio (autonomy), equity ratio, and current assets to equity ratio. <...> To clarify liquidity ratios and financial stability standards, we have built a binary classification tree (CART – Classification and Regression Tree) and used the Gini coefficient. <...> Conclusions Based on these results, we recommend companies to use the developed ratios to perform a routine financial analysis, forecast bankruptcy risk and make effective management decisions. © Publishing house FINANCE and CREDIT, 2015 Acknowledgments The article is based on the results of research financed from the Endowment Fund of the Financial University in 2014. <...> Sravnitel’nyi analiz podkhodov prognozirovaniya veroyatnosti bankrotstva kommercheskikh organizatsii [A comparative analysis of approaches to forecasting the probability of bankruptcy of commercial organizations]. <...> Bogdanova T.K., Baklakova A.V. Instrumental’nye sredstva prognozirovaniya veroyatnosti bankrotstva aviapredpriyatii [Tools to predict the likelihood of airline bankruptcy]. <...> Boikova A.V. Prognozirovanie vozmozhnogo bankrotstva predpriyatii: podkhody i modeli [Forecasting the possible bankruptcy of companies: approaches and models]. <...> Demeshev B.B., Tikhonova A.S. Dinamika prognoznoi sily modelei bankrotstva dlya srednikh i malykh rossiiskikh kompanii optovoi i roznichnoi torgovli [Dynamics of the forecast power of bankruptcy models for small and medium-sized <...>