IMPROVING THE WORKING CAPITAL AND LIQUIDITY MANAGEMENT SYSTEM OF SMALL ENTERPRISES IN THE RESEARCH AND DEVELOPMENT INDUSTRY

Based on the study of the essence, principles and regulatory framework of the management of working capital and liquidity of the organization, the importance of effective management of the current assets of the organization is shown, ensuring the investment of current activities, reducing the risks of loss of financial stability and income growth activities. Using the example of a specific organization of the Kemerovo region  – Kuzbass, the peculiarities of working capital management of small enterprises in the field of research and development are reflected: the lack of need to form and maintain the necessary level of reserves; a high proportion of accounts receivable; work with counterparties on the terms of payment deferral. The analysis of the financial condition, financial stability, business activity, content and operating conditions of the organization’s working capital and liquidity management system made it possible to identify reserves for improving the efficiency of working capital management. A study of the accounts receivable management process has shown that in the event of an overdue debt, the organization's employees implement a set of measures for pre-trial settlement of the conflict and, if necessary, bring the case to trial. At the same time, preventive actions in the organization are carried out in insufficient volume. The lack of consolidation of certain functions for managing accounts receivable for specific employees of the organization and insufficient use of available information sources for preliminary analysis of counterparties was revealed, which led to a decrease in the efficiency of turnover capital management. Based on the results of the research, recommendations have been developed to increase profitability while maintaining an acceptable level of liquidity of the enterprise, which, in turn, will lead to an increase in the organization’s income, asset turnover and free cash.

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