Every enterprise in modern society has generation of profit as its goal, and its performance can be determined by how effectively and efficiently its current assets are used. The purpose of this study is to identify and systematize modern approaches to financial management of enterprises. The relevance of this work is conditioned by the fact that in the conditions of market relations the approaches to working capital management of an enterprise have changed significantly. The methodological basis of the study is the achievements of economic theory, theory of finance, financial management, financial policy, and economic analysis, accounting and reporting. This research is based on such a methodology as scientific cognition, and also systemic and dialectical approaches. The problem on financial management of enterprises is always associated with a number of conditions or factors that affect the operation of a company. In this regard, the authors consider the research in the field of approaches to managing current assets in modern conditions, which is the most relevant in the current period. At the present stage, in order to ensure the long-term productive and effective financial activity of a company, a company’s working capital management policy is necessary, which would consist in determining the volume and structure of the current assets of the organization, as well as the sources of their coverage and the relationship between them. In this study, the general trends are defined in that the management of enterprise’s finances is reduced to the implementation of general management functions. This expresses a functional approach to the management of a company and implies the continuity and cyclicity of managerial work. Practical results of the work define that an enterprise cannot achieve the maximum effect by managing only accounts receivable, stocks or cash. Only after a comprehensive analysis reviewing each of the components of working capital in the enterprise, the best results of management could be achieved, because they are all interconnected. In this study, we examined the main approaches to the management of working capital of an enterprise; that has revealed that in market conditions an approach is needed on the application of two types of working capital management. This allows financial managers of modern enterprises to implement more informed management decisions (Forfaiting, Just-in-Time Approach, Re-Order Level System), i.e. the choice of one type is not always the right solution in working capital management at an enterprise.
Analisis Strategi Pengembangan Usaha Guna Meningkatkan Modal Kerja dan Keuntungan di Perusahaan Roti Tiga Berlian Kota Lubuklinggau
