FACTORS INFLUENCING THE CASH FLOW FROM OPERATING ACTIVITIES

The article deals with the problem of forming cash flows from operating activities, which are the main source of cash generation at the enterprise. Cash flow plays an important role in managing liquidity. From this point of view, the key area of activity is the operational area as it reflects the cash flows of the core activities of each enterprise. The article analyzes the external factors of formation of cash flows from operating activities, over which the enterprise has no direct influence and can only adapt its activity to changes in the external environment. The existing list of external factors of forming cash flows from operating activities is proposed to be supplemented by the following: general macroeconomic situation and business cycle, product life cycle and barriers to entry, position of the enterprise on the market and volume of its foreign economic activity, possibility of changing the structure and assortment of production in accordance with market needs, the possibility of applying price competition, and the ability to adjust the prices of goods and services sold to the prices of production factors. It is established that the internal factors of cash flows from operating activities are a reflection of the enterprise cash flow management policy. The influence and decision making of the basic management decisions concerning the activity of the enterprise, including the choice of inventory management, cash, accounts receivable and liabilities, pricing policy, is identified and analyzed. The paper is theoretical and provides the basis for further empirical research.