1.Management of capital of the organisation in the conditions of the market/Rudenko А.М.// Finance and the credit. – 2007. – № 43. – p. 35-38.
2.Organizational-methodical aspects of formation of registration cost of the turnaround material capital/Z.S. Tuyakova//"Economic analysis. The theory and practice", N 17, September 2007.
3.Safronov N.A. Economy of the organisation (enterprise). – М. 2009 – 356 p.
4.Working capital management/D. Болотнов//«The Financial Newspaper. Regional issue», N 15, April 2007.
The size of each component of a working capital depends on results of activity of those or other enterprise's divisions. Production, sales, marketing, financial decisions, price-fixing and wages is the shortest list of the kinds of activity which influences not only on working capital size, but also on speed of transformation of separate assets in money. The volume and speed of changes of a working capital are influenced also by an external environment of the enterprise (goods markets, the markets of capitals and financial centres). The basic sources of the means necessary for financing of a working capital are internal funds and credit resourses which are most often involved in the form of commercial and the bank credit for a short-term basis. As in many cases change of size of turnaround
Показать все (current) assets is accompanied by change of short-term (current) liabilities, both these objects of the account are considered, in common with frameworks of a management policy of a working capital2.
For working capital management there are a great number of models. The model of Baumolja is developed for management of money resources, and as its updating the compromise variant - Miller-Orra model is created. At storekeeping the model of definition of the optimum size of the order and its updating is most extended. The formalized submission of interrelation of loan proceeds and the means distracted in accounts, finds reflexion in V.V. Nitetskiy, A.A.Gavrilova's works. However, it is necessary to notice that use of some models assumes only stable conditions of the managing, some models are rather difficult in use. In this connection there is a necessity of search of new approaches to working capital management.
For efficient company management, it is necessary to state accurately, how many the working capital is required for business functioning in whole. With existence of several directions in business there is a question on what volume of investments is required in each direction and what direction gives the greatest return from investment of capital. Proprietors and company executives wish to know as it is possible to influence on lessening of need in a working capital, to obtain reserves for optimisation of investments in a working capital and increases its profitability.
There are five main principles of the better management:
for working capital management coordination of the activity and the coordination of the interests of various divisions always are required. Construction of accurate divisions' interaction is more important than optimisation of activity of each of them separately;
perfection of management by a working capital - process continuous. It is connected both with constant change of environmental conditions, and with cyclical variations of criteria "perfection" which could be influenced by development strategy of the company, its bargaining position, a volume of business etc.;
working capital management closely related with the risks management both financial, and operational. It, on the one hand, allows to use risk-management mechanisms in management of a working capital, and on the other hand - requires to consider a dilemma "bigger income - bigger risk" in a choice of decisions;
basically direct carrying over of effective package solution of working capital management from one company to another is impossible. Though the decision for a separate plot, for example work with temporary free money resources or management of a warehouse of raw materials, can be useful and in other organisation; Скрыть
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