MINISTRY OF EDUCATION AND SCIENCE OF REPUBLIC OF KAZAKHSTAN

T.RYSKULOV’S KAZAKH ECONOMIC UNIVERSITY

FACULTY OF “INTERNATIONAL EDUCATIONAL PROGRAMS” \ FINANCE

Course work

Theme: Management of financial streams on the enterprises

Author: Aydarov A.A., Finance, 241

Tutor: Bazarbekova A.D., Ph.D-candidate, MBA

Republic of Kazakhstan

Almaty - 2012

Outline:

1.Introduction………………………………………………………………………………….3

2.Main part:……………………………………………………………………………………8

2.1 Providing the full and authentic account financial streams of the enterprise

and formation necessary reporting…………………………………………………………......9

2.2 Analysis of movement of financial streams of the enterprise during time………………...12

2.3 Providing effective control of cash flows enterprises……………………………………..13

2.4 Planning of financial streams of the enterprise in a cut of their different types…………..14

2.5 Optimization of financial streams of the enterprise ………………………………………16

3. Conclusion…………………………………………………………………………………19

Introduction

General characteristic of work.

Urgency and degree of study of a problem. The last more than 15 years in Kazakhstan radical market transformations were carried out, which main directions were:

- liberalization of the prices and economic mechanisms as precondition creations in the country of bases of free and democratic market system.

- financial stabilization.

- privatization and privatization implementation for the purpose of creation layer of private owners and other market institutes, as basic the engine of market development (according to IBRD program).

These transformations were carried out at the same time with policy globalization and integration of economy of Kazakhstan into the world economy by large-scale attraction of foreign investments, into raw materials extracting branches of a national economy, meaning to use these branches and the financial means obtained thus as the locomotive in the subsequent development of other priority branches of real sector of economy.

Among seven long-term priorities designated in Strategy.

The president of the Republic of Kazakhstan N.A.Nazarbayev «Kazakhstan – 2030» the fifth are energy resources. At the expense of effective them uses by fast increase in production and oil and gas export the aim of obtaining the income which will promote is pursued to sustained economic growth and improvement of life of the people.

In the specified conditions formation of financial balances and streams in to economy of Kazakhstan now considerably are defined by influence of such external factors as activity of multinational corporation and conditions of the agreements signed with the international financial organizations.

Besides, in connection with occurring processes of globalization and to regional integration the economy of Kazakhstan began to be exposed to pressure of price situation in the world commodity markets (oil, the markets of metals, foodstuff, the goods of the wide range of consumer appointment).

Further shortcomings of carried-out bank policy were found also, and also created tax system regarding withdrawal of rent and other payments at investors, imperfection of management of an external debt, uses of reserve funds (oil fund, international reserves and others).

As a result of the undertaken measures development of economy of Kazakhstan got the expressed raw character, real sector of economy still not it is deduced from stagnation, as the obtained financial resources from the raw materials of extracting branches didn't manage to be turned attraction of foreign investments into development on development of domestic market: to domestic producers on the purpose of development the bank credits, and other source of financing of development of economy – stock market of Kazakhstan don't stand out – still isn't developed.

Imperfection of the arisen financial mechanisms regulating domestic market and macroeconomic situation as a whole assumes implementation of in-depth studies on development of a financial system Kazakhstan and financial streams circulating in national economy, and also to improvement of management of them in the conditions of globalization.

However similar development of a financial system and improvement managements of financial streams in national economy of Kazakhstan aren't fully reflected yet, as when developing of state programs, and in research development, as predetermines research urgency.

To the analysis and assessment of a condition of financial streams in the national to economy of Kazakhstan, and also improvement of management of them in conditions of globalization the present dissertation is devoted.

Theoretical questions of development of a financial system, formation and managements of financial streams of the country were developed in researches of foreign authors (R. Prebisch), (M. Todaro), (J. Kornai), (M. Intrilligator), (M. Allais), (L. Taylor), (J. Stiglitz), (G. Soros), (J. Sachs) and others.

On the former Soviet Union significant contribution to development of this perspectives brought: L.I.Abalkin, O.T.Bogomolov, Yu.V.Yaremenko, Century of Century. Ivanter, of the Village of Lviv, E.M.Primakov, Yu.M.Shvyrkov, S.Yu. Glazyev. Fetisov, M. V. Ershov, Ya.V.Sergiyenko and others.

Among the leading Kazakhstan scientists-economists who have brought the greatest contribution to development of these or those aspects of strategy of development of the financial spheres it is possible to allocate Ya.A.Aubakirova, U.B.Baymuratova, A.K.Koshanova, N.K.Mamyrova, K.N.Naribayev, OK Sabdena, K.A.Sagadiyev, Village of the Village. Satubaldina, E.A.Turkebayev, A.A.Nurseitova, E.B.Zhatkanbayev. Kuatbayev, R.E. Elemesova, B.Zh.Ermekbayev, B.K.Kazbekova, A.N.Tulembayev, K.E.Kubayev, M. S. Tulegenova, B. M. Mukhamediyev, S. D. Tashenova, K.S.Mukhtarova, etc.

At the same time it should be noted that, despite the available numerous publications devoted to development of strategy of development the financial sphere, the budgetary and bank systems, as a whole still isn't present a consensus about ways of formation and management of financial streams Kazakhstan in the conditions of globalization, in communication with what the problem demands further complex research. The insufficient theoretical readiness of problems of development of a financial system national to economy and urgency of complex research of processes formations and managements of financial streams in the conditions of the financial globalizations predetermined a choice of a subject of research, the purpose and tasks dissertational work, to logic of its construction.

Purpose and research problems. The purpose of dissertational work is complex research of processes and development of measures for improvement of management by financial streams of national economy of Kazakhstan in the conditions of globalization.

Research problems are:

- to define factors of formation and management of financial streams in open national economy;

- to reveal methodological tools of research and balanced management of financial streams of the national

farms in the conditions of globalization;

- on the basis of the analysis of the revealed tools to carry out a condition appraisal managements of financial streams in open economy of Kazakhstan;

- on the basis of the analysis of dynamics of macroeconomic indicators to estimate their interrelation with the world prices for oil;

- to plan ways and to develop measures for management improvement financial streams in economy of Kazakhstan.

Object of research are processes and formation mechanisms and movements of the financial streams circulating at functioning national economy in the conditions of globalization.

Object of research – financial and international economic the relations arising concerning distribution and redistribution financial streams and means in open national economy.

Theoretical and methodological basis of research made

scientific works of foreign, Russian and domestic scientists-economists, Constitution of the Republic of Kazakhstan, civil, tax, customs codes, laws of the Republic of Kazakhstan, decrees and messages of the President of the Republic of Kazakhstan and other normative legal acts. Information base of research official data and documents of the international currency organizations (make IMF, IBRD, the European Reconstruction and Development Bank, etc.).

Ministry of Economics and budgetary planning, Ministry finance, Department of Energy and mineral resources, National bank, Agency according to the Republic of Kazakhstan, legislative and regulations, Government programs.

Methods of theoretical research of the economic and statistical analysis, quantitative and high-quality studying of considered processes and streams are put in a basis of research.

Scientific novelty of research consists in statement, theoretical justification and the solution of a complex of the questions connected with improvement of management of financial streams in open national economy in the conditions of globalization. With personal participation of the author scientific results are received, scientific novelty and which practical importance consist in the following:

- the economic essence and value are opened, provisions are generalized and the factors forming financial streams of national economy in the conditions of financial globalization are systematized;

- on the basis of detailed studying of methodology of research it is created tools of the macroeconomic analysis of financial streams in operating conditions of open national economy;

- on the basis of the analysis of data of system of national accounts and a matrix financial streams the assessment of nature of interrelations of financial streams of financial and non-financial sectors of national economy is given, the directions of their movement in economy of Kazakhstan are defined;

- in a mode of continuous monitoring the analysis of ranks of dynamics is carried out macroeconomic indicators close dependence of gross domestic product also is established Kazakhstan from fluctuations of the world prices for oil and an environment of the world market of raw materials;

- the reasons of the revealed shortcomings are opened, offers are developed and recommendations about improvement of management by financial streams national economy in the conditions of financial globalization.

The provisions submitted for protection:

- definition of financial streams characterizes them as economic the variables having existential measurement and covering everything to a stage of process, and the factors forming financial streams of national economy in the conditions of financial globalization, are the following: priority in economic strategy, principles of formation of financial model and others;

- tools of macroeconomic research of financial streams in operating conditions of open national economy is based on the matrix of financial streams based on system of national accounts;

- the interrelation of financial streams in economy of Kazakhstan carries hypertrophied character (in non-financial sector of economy of Kazakhstan there was a deep imbalance between receipt and use of financial resources), and the directions of their movement are characterized by their frequent use for carrying out operations in financial sector (capital flight, "shadow" economy, investments in financial assets of other countries and others);

- ranks of dynamics of macroeconomic indicators and the established close dependence of gross domestic product of Kazakhstan on fluctuations of the world prices for oil and environments of the world market of raw materials testify that the policy of priority development of maintaining branches with a view of attraction of foreign investments withdrew economy of Kazakhstan from technological progress in the direction of one-sided raw orientation;