Підходи до визначення сутності грошових потоків підприємства

Abstract

Розглянуто еволюцію наукових поглядів на процес формування концепції грошового потоку як інструменту управління ефективністю і розвитком підприємства. Систематизовано й охарактеризовано основні підходи до трактування змісту грошового потоку. На основі аналізу обмежень статичного і динамічного підходів до опису сутності грошових потоків підприємства запропоновано використання агрегованого підходу як такого, що найбільш повно враховує всі властивості грошових потоків.

Enterprise cash flows are important independent object of management, since they serve all types of enterprise activities. Effective cash flow management requires clear understanding of their essence. The cash flows role in the economy is substantiated by the functioning of a large number of financial assets. It determines the complexity and ambiguity of this concept interpretation in the scientific literature. Foreign analysts mark the following meanings of «cash flow» concept: – in the aspect of statistics and accounting – quantitative expression of the funds which are available at the disposal of the enterprise at a certain point of time; – for investors – expected future income from investments; – for management purposes – information about cash flow in previous periods or plan for their movement in the future. Currently, several approaches are formed for enterprise cash flows essence and content determining. Static approach representatives define cash flows as the difference between cash receipts and expenditures. In this case, the concepts of positive, negative and net cash flow are used. Under such circumstances, the accounting approach prevails, which does not always provide correct choice of analysis and assessment methods as well as cash flow management. The dynamic approach considers the cash flow as cash flow receipts and payments over a period of time. The research paper compares the static and dynamic approaches in the following areas: research object, base category, fixation time, indicator and scope. The development of scientific thought in the direction of deepening and clarifying certain aspects of the cash flows essence leads to aggregated approach arising. This approach is the most complex, as it includes both dynamic and static (at a specific date) cash flow characteristics. In contrast to the static and dynamic approaches, the aggregated one takes into account all cash flows characteristics.