Kulakova Yu.N.Ural Social and Economic Institute, Branch of Academy of Labor and Social Relations, Chelyabinsk, Russian Federation Kulakova174@mail.ru
Kulakov A.B.Ural Social and Economic Institute, Branch of Academy of Labor and Social Relations, Chelyabinsk, Russian Federation Kul197020@mail.ru
Importance The scope of the research is the management of an enterprise's current assets based on the turnover calculation. The article identifies shortcomings of the traditional method of determining duration of current assets turnover that uses the ratio of the average balance of current assets to the amount of financial result (revenue, cost, etc.). Objectives The research continues the series of our articles aimed at developing a new methodology of calculation of average turnover duration of current assets within the analyzed period. Non-availability of a single methodological approach to calculating the turnover of current assets at different stages of the operating cycle introduces arbitrary interpretation of the specific indicators, therefore, the possibility of their subsequent aggregation is excluded. Methods Our method of determining the average period of current assets turnover within the analyzed period represents a unified procedure, which is built without any involvement of any indicators of financial results. Therefore, the procedure is suitable for turnover evaluation both at individual stages of current assets turnover and in general. The article offers an example that allows evaluating the average duration of current assets' turnover in the analyzed period in the form of unpaid client accounts (receivables) in comparison with the traditional calculation of turnover. The comparison of the calculation results confirms the consistency and coherence of our approach. We developed an example, which enables to calculate in the modern way the average duration of total current assets' turnover in the analyzed period. Results We emphasize that in modern conditions efficient management of financial and economic activity of an enterprise should be based on the development and widespread application of modern adequate economic-mathematical methods and models rather than on traditional, conventional methods of analysis. Conclusions and Relevance The findings show the advantages over the traditional method of calculation of turnover of both total current assets and individual items. These advantages enable to improve the quality of analytical work and the efficiency of management decisions made by an enterprise.
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