TYPOLOGY OF POLICY FORMING CURRENT ASSETS OF TRADING ENTERPRISES IN MODERN CONDITIONS

Abstract

The article provides a comparative analysis of the essence of the concept of “current assets formation policy” from the point of view of modern scientists. Based on the essential characteristics of scientists and our own proposals, an improved concept of “current assets formation policy of trade enterprises” formulated. The current assets formation policy of trade enterprises is an element of the current assets management strategy of a trade enterprise, which ensures the relationship between the formations and financing of current assets, includes a system of methods, principles and criteria for identifying the required volume and composition of current assets in accordance with the established target criteria and tasks. Considering that, according to the classical economic content, a moderate current assets formation policy involves finding the optimal ratio of profitability and liquidity indicators. We propose to divide this type of current assets formation policy into three separate types: a moderate policy with high liquidity and a moderate policy with low liquidity and a balanced moderate policy with an average level of liquidity. The first type of moderate policy of current assets formation is stimulating, characterized by a high level of liquidity of current assets, which provides an average or high share of current assets in the total amount of assets (about 50% or more) and leads to a high level of profitability with a low level of turnover of current assets. The next type of policy proposed to define a restrictive policy of current assets formation. This type of policy characterized by a low level of liquidity, due to a small share of current assets in the total volume of assets of the enterprise. It ensures the acceleration of the turnover of the existing insignificant volume of current assets; however, this acceleration of turnover does not lead to an increase in profitability, but on the contrary - reduces it. The third type of moderate policy is a balanced policy of current assets formation, which characterized by average values of liquidity, profitability and duration of the operating cycle.