DOI: 10.32702/2306-6806.2021.1.30
УДК: 658.153.014.1
С. М. Халатур, М. В. Кравченко, І. Д. Павлік
УДОСКОНАЛЕННЯ УПРАВЛІННЯ ГРОШОВИМИ ПОТОКАМИ СІЛЬСЬКОГОСПОДАРСЬКОГО ПІДПРИЄМСТВА ЯК ОСНОВА ЗАБЕЗПЕЧЕННЯ ФІНАНСОВО-ЕКОНОМІЧНОЇ БЕЗПЕКИ
Анотація
Управління грошовими потоками є ключовим для ефективної фінансово-господарської діяльності сільськогосподарського підприємства. При позитивному впливі факторів важливо, щоб грошовий потік був оптимальним для формування резерву грошових коштів та проведення необхідних поліпшень на сільськогосподарському підприємстві. В умовах фінансово-економічної кризи потрібно керувати грошовими потоками, щоб забезпечити оплату всіх основних рахунків та не нанести бізнесу довгострокову шкоду через нестачу готівки.
Управління грошовими потоками, їх прогнозування допомагає зрозуміти, коли сільськогосподарське підприємство зазнає дефіциту або порушує ліміт овердрафту, допомагаючи вживати заходів заздалегідь. Регулярне прогнозування грошового потоку та його перегляд допомагає оцінити, коли можуть виникнути проблеми, виявити потенційний дефіцит грошових коштів та вжити відповідних заходів, а саме: комунікація зі своїм банком або позикодавцем; комунікація зі своїми постачальниками; комунікація з радниками, як-от: незалежний консультант та бухгалтер.
Ключові слова: грошові потоки; грошові кошти; безпека; прогнозування; управління.
Література
1. Abdul Rahman and Raj Bahadur Sharma (2020). Cash flows and financial performance in the industrial sector of Saudi Arabia: With special reference to Insurance and Manufacturing Sectors. Investment Management and Financial Innovations, 17(4), 76—84. doi:10.21511/imfi.17(4).2020.07
2. Alnori F. (2020). Cash holdings: Do they boost or hurt firms' performance? Evidence from listed non-financial firms in Saudi Arabia. International Journal of Islamic and Middle Eastern Finance and Management, 13 (5), 919—934. Retrived from https://www.emerald.com/insight/content/doi/10.1108/IMEFM-08-2019-0338/full/html
3. Atieh S. H. (2014). Liquidity analysis using cash flow ratios as compared to traditional ratios in the pharmaceutical sector in Jordan. International Journal of Financial Research, 5 (3), 146—158. https://doi.org/10.5430/ijfr.v5n3p146
4. Cunha I., & Pollet J. (2020). Why Do Firms Hold Cash? Evidence from Demographic Demand Shifts. The Review of Financial Studies, 33 (5), 2011—2035. https://doi.org/10.1093/rfs/hhz124
5. David C.O., Grace O., Lugard O.K., & Regina O. (2018). The Potency of Cash Flow in Predicting Corporate Performance. Account and Financial Management Journal, 3 (6), 1591—1601. Retrived from http://everant.org/index.php/afmjh/article/view/34
6. Harris M., & Raviv A. (2017). Why Do Firms Sit on Cash? An Asymmetric Information Approach. The Review of Corporate Finance Studies, 6 (2), 141—173. https://doi.org/10.2139/ssrn.2984276
7. Khalatur S., Zhylenko K., Masiuk Y., Velychko L., Kravchenko M. (2018). Assessment of bank lending diversification in the national economy of Ukraine. Banks and banks systems. Vol. 13 (3), pp. 141—150. URL: https://businessperspectives.org/journals/banks-and-bank-systems/issue-291/assessment-of-bank-lending-diversification-in-ukraine
8. Khalatur S., Radzevicius G., Velychko L., Fesenko V., Kriuchko L. (2019). Global deoffshorization and its impact on the national and regional economies of eastern european countries. Problems and Perspectives in Management, 17 (3), pp. 293—305. URL: http://dx.doi.org/10.21511/ppm.17(3).2019.24
9. Khalatur S., Stachowiak Z., Zhylenko K., Honcharenko O., Khalatur O. (2019). Financial instruments and innovations in business environment: European countries and Ukraine. Investment Management and Financial Innovations, 16 (3), pp 275—291. URL: http://dx.doi.org/10.21511/imfi.16(3).2019.25
10. Khalatur S., Trokhymets O., Karamushka O. (2020). Conceptual basis of tax policy formation in the globalization conditions. Baltic Journal of Economic Studies, 6 (2), 81—92. URL: https://doi.org/10.30525/2256-0742/2020-6-2-81-92
11. Khalatur S., Khaminich S., Budko O., Dubovych O., Karamushka O. (2020). Multiple system of innovation investment decisions adoption with synergetic approach usage. Entrepreneurship and Sustainability. Vol. 7. Num. 4, 2745—2763. URL: http://doi.org/10.9770/jesi.2020.7.4(12)
12. Liman M., & Mohammed A. (2018). Operating cash flow and corporate financial performance of listed conglomerate companies in Nigeria. Journal of Humanities and Social Science, 23 (2), 1—11. Retrieved from https://www.academia.edu/36826174/Operating_Cash_Flow_and_Corporate_Financial_Performance_of_Listed_Conglomerate_Companies_in_Nigeria
13. Loncan T., & Caldeira J. (2014). Capital Structure, Cash Holding, and Firm Value: A Study of Brazilian Listed Firms. Revista Contabilidade & Financas, 25(64), 46—60. https://doi.org/10.1590/S1519-70772014000100005
14. Orlova S., & Rao R. (2018). Cash Holding Speed of Adjustment. International Review of Economics and Finance, 54(C), 1—14. https://doi.org/10.1016/j.iref.2017.12.011
15. Rocca M., & Cambrea D. (2019). The Effect of Cash Holdings on Firm Performance in Large Italian Companies. Journal of International Financial Management & Accounting, 30 (1), 30—59. https://doi.org/10.1111/jifm.12090
16. Turki Alshammari (2020). Cash level and corporate performance: evidence from the Gulf Cooperation Council countries. Investment Management and Financial Innovations, 17 (4), 14—24. doi:10.21511/imfi.17(4).2020.02
S. Khalatur, M. Kravchenko, I. Pavlik
IMPROVEMENT OF CASH FLOW MANAGEMENT OF AGRICULTURAL ENTERPRISE AS A BASIS FOR ENSURING FINANCIAL AND ECONOMIC SECURITY
Summary
Cash flow management is key to the effective financial and economic performance of an agricultural enterprise. With the positive influence of factors, it is important that the cash flow was optimal for the formation of cash reserves and the necessary improvements in the agricultural enterprise. In a financial and economic crisis, cash flow needs to be managed to ensure payment of all major bills and not to cause long-term damage to businesses due to lack of cash.
The purpose of the article is to find ways to improve the cash flow management of an agricultural enterprise as a basis for ensuring financial and economic security. The necessary ways to maintain a positive cash flow in agricultural activities are identified. Agriculture is one of the key sectors in Ukraine's national economy, but it is also a sector where it is easy to experience cash flow problems. Poor yields, fluctuations in raw material prices and changes in the structure of demand can lead to a shortage of cash in an agricultural enterprise, and such events are often difficult to predict, so they are planned. Practical steps that can be implemented in an agricultural enterprise to improve cash flow management are proposed. In order to ensure the financial and economic security of the agricultural enterprise, several ways have been proposed to protect funds in times of crisis.
The financial components of economic security of an agricultural enterprise, as the main structural elements of this system, have two directions. The first direction is external, related to the analysis of challenges and threats to the economic security of the external environment, and the second direction is internal, related to threats to economic security arising from the internal environment of the enterprise. Cash flow management, cash flow forecasting helps to understand when an agricultural enterprise is in deficit or violates the overdraft limit, helping to take action in advance. Regularly forecasting and reviewing cash flow helps assess when problems may arise, identify potential cash shortages, and take appropriate action, such as: communicating with your bank or lender; communication with its suppliers; communication with advisors such as an independent consultant and accountant.
Keywords: cash flows; cash; security; forecasting; management.
References
1. Abdul Rahman and Raj Bahadur Sharma (2020), "Cash flows and financial performance in the industrial sector of Saudi Arabia: With special reference to Insurance and Manufacturing Sectors", Investment Management and Financial Innovations, vol. 17 (4), pp. 76—84. doi:10.21511/imfi.17(4).2020.07
2. Alnori, F. (2020), "Cash holdings: Do they boost or hurt firms' performance? Evidence from listed non-financial firms in Saudi Arabia", International Journal of Islamic and Middle Eastern Finance and Management, vol. 13 (5), pp. 919—934, available at: https://www.emerald.com/insight/content/doi/10.1108/IMEFM-08-2019-0338/full/html (Accessed 25 Dec 2020).
3. Atieh, S. H. (2014), "Liquidity analysis using cash flow ratios as compared to traditional ratios in the pharmaceutical sector in Jordan", International Journal of Financial Research, vol. 5 (3), pp. 146—158. https://doi.org/10.5430/ijfr.v5n3p146
4. Cunha, I. and Pollet, J. (2020), "Why Do Firms Hold Cash? Evidence from Demographic Demand Shifts", The Review of Financial Studies, vol. 33 (5), pp. 2011—2035. https://doi.org/10.1093/rfs/hhz124
5. David, C. O. Grace, O. Lugard, O. K. and Regina, O. (2018), "The Potency of Cash Flow in Predicting Corporate Performance", Account and Financial Management Journal, vol. 3 (6), pp. 1591—1601, available at: http://everant.org/index.php/afmjh/article/view/34 (Accessed 25 Dec 2020).
6. Harris, M. and Raviv, A. (2017), "Why Do Firms Sit on Cash? An Asymmetric Information Approach", The Review of Corporate Finance Studies, vol. 6 (2), pp. 141—173. https://doi.org/10.2139/ssrn.2984276
7. Khalatur, S. Zhylenko, K. Masiuk, Y. Velychko, L. and Kravchenko, M. (2018), "Assessment of bank lending diversification in the national economy of Ukraine", Banks and banks systems, vol. 13 (3), pp. 141—150, available at: https://businessperspectives.org/journals/banks-and-bank-systems/issue-291/assessment-of-bank-lending-diversification-in-ukraine (Accessed 25 Dec 2020).
8. Khalatur, S. Radzevicius, G. Velychko, L. Fesenko, V. and Kriuchko, L. (2019), "Global deoffshorization and its impact on the national and regional economies of eastern european countries", Problems and Perspectives in Management, vol. 17 (3), pp. 293—305, available at: http://dx.doi.org/10.21511/ppm.17(3).2019.24 (Accessed 25 Dec 2020).
9. Khalatur, S. Stachowiak, Z. Zhylenko, K. Honcharenko, O. and Khalatur, O. (2019), "Financial instruments and innovations in business environment: European countries and Ukraine", Investment Management and Financial Innovations, vol. 16 (3), pp 275—291. http://dx.doi.org/10.21511/imfi.16(3).2019.25
10. Khalatur, S. Trokhymets, O. and Karamushka, O. (2020), "Conceptual basis of tax policy formation in the globalization conditions", Baltic Journal of Economic Studies, vol. 6 (2), pp. 81—92. https://doi.org/10.30525/2256-0742/2020-6-2-81-92
11. Khalatur, S. Khaminich, S. Budko, O. Dubovych, O. and Karamushka, O. (2020), "Multiple system of innovation investment decisions adoption with synergetic approach usage", Entrepreneurship and Sustainability, vol. 7, no. 4, pp. 2745—2763. http://doi.org/10.9770/jesi.2020.7.4(12)
12. Liman, M. and Mohammed, A. (2018), "Operating cash flow and corporate financial performance of listed conglomerate companies in Nigeria", Journal of Humanities and Social Science, vol. 23 (2), pp. 1—11, available at: https://www.academia.edu/36826174/Operating_Cash_Flow_and_Corporate_Financial_Performance_of_Listed_Conglomerate_Companies_in_Nigeria (Accessed 25 Dec 2020).
13. Loncan, T. and Caldeira, J. (2014), "Capital Structure, Cash Holding, and Firm Value: A Study of Brazilian Listed Firms", Revista Contabilidade & Financas, vol. 25 (64), pp. 46—60. https://doi.org/10.1590/S1519-70772014000100005
14. Orlova, S. and Rao, R. (2018), "Cash Holding Speed of Adjustment", International Review of Economics and Finance, vol. 54 (C), pp. 1—14. https://doi.org/10.1016/j.iref.2017.12.011
15. Rocca, M. and Cambrea, D. (2019), "The Effect of Cash Holdings on Firm Performance in Large Italian Companies", Journal of International Financial Management & Accounting, vol. 30 (1), pp. 30—59. https://doi.org/10.1111/jifm.12090
16. Turki Alshammari (2020), "Cash level and corporate performance: evidence from the Gulf Cooperation Council countries", Investment Management and Financial Innovations, vol. 17 (4), pp. 14—24. doi:10.21511/imfi.17(4).2020.02
№ 1 2021, стор. 30 - 35
Дата публікації: 2021-01-29
Кількість переглядів: 1202
