THEORETICAL BASES FOR ANALYSIS AND OPTIMIZATION OF THE ENTERPRISE’S CASH MANAGEMENT

The aim of the present research is to study the theoretical foundations of analysis and optimization of cash flows at the enterprise; the economic nature of the cash flows of the company. It is noted that to understand the difference between the amount received and the money spent in the cash flow, the actual net cash coming into the company (or spend it) for a specified period, to ensure efficient cash flow management it is appropriate to carry out their classification by the following features: depending on the funds destination, in the form of cash assets by currency, by activity, by the method of calculation. There is a need for cash flow analysis, as it provides an answer to the question about the possibility of creating enterprise funds necessary to purchase additional tools to further development; presence of funds at the enterprise for debt repayment, as well as adequacy of funding for its activities. The necessity also exists for analyzing cash flows at the company. It was found that in assessing cash flow direct and indirect methods are used. The direct method is aimed at obtaining data on the gross, as well as the net flow of the company during the reporting period. Indirect method of analytical prospects permits to explain the differences between financial results and free cash balances. The need for cash flow management is of the top importance at the enterprise. Optimization is proposed as one of the leading processes of selecting the best forms of their organization at the enterprise, being subject to the conditions and peculiarities of its business. The ways of improving cash flow management at the enterprise today have been studied. The basic methods for optimizing cash management, optimization techniques in terms of methods of optimizing over time, methods of maximizing net cash flow have been subject to the research. The basis of the cash flow optimization is to balance the volume of incoming and outgoing cash. We have considered the global experience of forecasting and optimization of cash flow of the company. This article summarizes the most used in foreign practice average cash balance optimization models (model Baumol and Miller-Orr model) and considers a more up-to-date model that local companies can use in their work (Model Trump). We have found the main reasons for using these models in the national practice of financial and economic analysis and management. The main disadvantages of the models cash balances optimization are described in the paper: Baumol model is only based on constant operating costs, without taking into account the variables and time-consuming; Miller-Orr model does not account for variables and time costs and, moreover, as the characteristics of receipt, cash outflows using variance in cash flows that adequately reflects the actually existing processes. The main trends in the cash flows optimization are: further improvement of the financial arrangements technology to reduce operational needs of the enterprise in the necessary funds; improving the accounting system in order to implement reliable retrospective analysis; improving the accuracy of forecasting cash flows; search of alternative sources of liquidity; more efficient use of available funds in the the company’s functioning. Ways of how to optimize cash flows management in the ongoing activities of the enterprise are determined. A detailed cash flow analysis is required to improve the management process at an enterprise in general. One of the simplest methods is the increase in production and sales. If you take appropriate measures to raise productivity and to reduce costs, it will also lead to higher profits. The necessity exists for optimizing the cash flow and its performance trends through: improving the technology of financial accounts and accounting system; improving the accuracy of forecasting; search for alternative sources of liquidity and efficiency of cash.