AGRICULTURAL PRODUCERS’ CREDITWORTHINESS
ASSESSMENT ON THE BASIS OF THE CASH FLOW ANALYSIS 

Yunyaeva Rimma Ravilovna, Doctor of economical sciences, professor, sub-department of banking and monetary relations, Penza State University (40 Krasnaya street, Penza, Russia), rimmarav@yandex.ru
Klemanova Irina Valentinovna, Postgraduate student, Penza State University (40 Krasnaya street, Penza, Russia), iriska_elis@mail.ru

 336

Background. In a competitive and volatile external environment it is necessary to quickly respond to changes for the worse. Managing cash flows is one of the tools that can be used by the enterprise to make profit. The paper deals with basic methods of the cash flow analysis used by agricultural enterprises in Penza region. This analysis will allow lenders and business owners to evaluate efficiency and prospects of an agricultural enterprise. The purpose of the paper is to analyze agricultural producers’ cash flows in the course of their economic activity and to assess their current performance and prospects of development.
Materials and methods. We analyzed the accounting and financial reports of the local agricultural enterprise and studied works by James C. Van Horne, N. V. Bondarchuk, A. N. Gurzhiev. We used direct and indirect methods of the cash flow analysis to monitor the agricultural producer’s cash flows. These methods allowed us to evaluate the liquid assets, to show the main sources of inflow and outflow of funds, to make conclusions about the sufficiency of funds to make current payments, to identify the financial results and circulating assets, to determine the prospects of forming the main source of internal financing, i.e. the net cash flow from operating and investing activities.
Results. We investigated the agricultural producer’s cash flows, analyzed the application of funds efficiency and its current financial position, revealed the essence of direct and indirect methods of the cash flow analysis in agriculture, monitored the agricultural producer’s cash flow using a number of indicators, advised the management of the agricultural enterprise how to improve efficiency.
Conclusions. The cash flow analysis allows lenders, investors and business owners to assess a company's ability to meet its obligations and to receive positive financial results. It is very important for agricultural enterprises as they are dependent on seasonal factors.

cash flow, cash flow statement, monitoring and analyzing the cash flow adequacy.

1. Van Khorn Dzh. K. Osnovy upravleniya finansami: per. s angl. [Basic finance management: translation from English]. Moscow: Finansy i statistika, 2007, 800 p.
2. Bondarchuk N. V. Auditorskie vedomosti [Audit bulletin]. 2002, no. 3, pp. 56–61.
3. Gurzhiev A. N. Ekonomika sel'skokhozyaystvennykh i pererabatyvayushchikh predpriyatiy [Economy of agricultural and processing enterprises]. 2002, no. 9, pp. 49–54.