Sosnovska O., Ph.D., Associate Professor, Associate Professor of the Department of  Enterprise Economics and Personnel Management, Poltava National Technical Yuri Kondratyuk University, Poltava, Ukraine

ORCID ID: 0000-0002-9818-9571
e-mail: olgasosnovska79@gmail.com

Miniailenko I., Ph.D., Associate Professor of the Department of Enterprise Economics and Personnel Management, Poltava National Technical Yuri Kondratyuk University, Poltava, Ukraine

ORCID ID: 0000-0002-0388-6199
e-mail: inna.minyaylenko@gmail.com

Financial flows of the Enterprise and Ways of their Optimization

Abstract. Introduction. The financial and economic activity of enterprise is accompanied by the movement of cash, which is identified as their income and expenditure. This continuous process is defined by the notion of financial flow. Optimization of financial flows is the most important factor in ensuring financial stability of the enterprise. The financial management system of an entity is individual for each enterprise and needs to take into account the features of its financial and economic activity and the conditions of the external and internal environment.

Purpose. The purpose of the research is to determine the essence of financial flows of the enterprise, to analyze existing approaches in order to optimize them and to justify optimization directions in agricultural enterprises.

Results. The research shows that optimization and balancing of cash flows is carried out by identifying and implementing reserves, which allows reducing the company’s dependence on external sources of attraction of funds, ensuring the uniformity of their spending in time and by volume and growth of net cash flow. The optimal structure of sources of financial flows in the enterprise for “Combined model of optimization of the structure of sources of financial flows on the basis of three basic methods” and the size of the optimal balance of funds are determined. The method of drawing up a payment calendar is proposed, short and long-term measures are substantiated for balancing the cash flow deficit in an enterprise.

Conclusions. The article sets out the content of the financial flow of the enterprise, theoretical and methodological foundations are researched, and modern scientific approaches to its interpretation are generalized. The significance and necessity of optimization of financial flow of the enterprise with the purpose of maintenance of its effective activity is substantiated. The essence, main principles, stages and role of the process of optimization of financial flow for ensuring financial stability of business entities in the market are determined. Criteria and basic methods of optimization of financial flow of the enterprise are considered.

Keywords: financial flow; financial resources; cash flows; weighted average cost of capital; net cash flow; financial stability; financial leverage; optimization; optimal capital structure.

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