Author: Mariya Yu. Ginzburg, Yevgeniya A. Khansuvarova and Konstantin S. Yashin

Abstract:

The concept of cash flow of a company as an independent object of financial management has not been adequately reflected yet not only in domestic but also in foreign literature on financial management. Applied aspects of this concept are usually considered only as a part of the issues of cash balance management, management of financial resources’ formation and crisis management in case of the threat of bankruptcy. Even the financial statements characterizing the dynamics of cash flows of a company have been introduced quite recently in the system of international accounting standards (in our country such reporting is still in its infancy). In the period of reforms in the budget system of the Russian Federation the issues of health care funding gained particular importance, especially the assessment of financial condition of state-funded municipal organizations. Many of the issues remain disputable and require further research.

Keywords: financial management; cash flow; horizontal analysis; vertical analysis.