KEY ASPECTS OF MANAGING THE EFFICIENCY OF CASH FLOWS OF A COMMERCIAL ORGANIZATION IN MODERN ECONOMIC CONDITIONS

Julia Semenyuk; Vitaly C. Lavrukhin; Milana V. Stepenko; Arina V. Tuneva

doi:10.29039/2409-6024-2026-14-4-166-181

VAK Russia 5.2 UDC 33 CSCSTI 06.00 Russian Classification of Professions by Education 38.02.01 Russian Library and Bibliographic Classification 65 Russian Trade and Bibliographic Classification 7 BISAC JNF010000 VAK Russia 5.2.1 VAK Russia 5.2.3 VAK Russia 5.2.4 VAK Russia 5.2.5 VAK Russia 5.2.6 VAK Russia 5.2.7

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KEY ASPECTS OF MANAGING THE EFFICIENCY OF CASH FLOWS OF A COMMERCIAL ORGANIZATION IN MODERN ECONOMIC CONDITIONS

Published in Russian Journal of Management · Volume 14, Issue 4 · Pages 166–181 · Rubric: Financial management

DOI: https://doi.org/10.29039/2409-6024-2026-14-4-166-181

Received: 01.04.2026 Accepted: 14.05.2026 Published: 23.05.2026

Authors

Julia Semenyuk

Vitaly C. Lavrukhin

Milana V. Stepenko

Arina V. Tuneva

Julia Semenyuk

Financial University under the Government of the Russian Federation docent · kafedra biznes-analitiki · Moscow

Vitaly C. Lavrukhin

Financial University under the Government of the Russian Federation student · Fakul'tet nalogov, audita i biznes-analiza · Moscow

Milana V. Stepenko

Financial University under the Government of the Russian Federation student · Fakul'tet nalogov, audita i biznes-analiza · Moscow

Arina V. Tuneva

Financial University under the Government of the Russian Federation student · Fakul'tet nalogov, audita i biznes-analiza · Moscow

ABSTRACT

In conditions of macroeconomic instability and rising cost of borrowed capital, improving the efficiency of cash flow management is a key factor in the financial stability of a commercial organization. This article is devoted to the study of theoretical and practical aspects of cash flow management, as well as the analysis of their application using the example of PJSC SIBUR Holding. The paper substantiates the relevance of the topic, examines the main approaches to cash flow management, analyzes the financial performance of the company, and offers author's recommendations for improving the efficiency of cash flow management. The study demonstrates that the introduction of a systematic approach to cash flow management helps to improve liquidity, reduce financing costs and increase the competitiveness of the organization. The results of the work can be applied by commercial organizations of various industries and sizes.

KEYWORDS

cash flows, management efficiency, net cash flow, ratio analysis, budgeting

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This work is licensed under Creative Commons Attribution-NonCommercial 4.0 International

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Chief editor

Aleksandr Suglobov

a_suglobov@mail.ru

Deputy Editor-in-chief

Aleksey S. Mindrin

Publishing editor

Nadezhda Troitskaya

nn2209@mail.ru +7(915)259-03-86

This work is licensed under Creative Commons Attribution-NonCommercial 4.0 International Creative Commons

GOST

Semenyuk J. A., Lavrukhin V. C., Stepenko M. V., Tuneva A. V. KEY ASPECTS OF MANAGING THE EFFICIENCY OF CASH FLOWS OF A COMMERCIAL ORGANIZATION IN MODERN ECONOMIC CONDITIONS // Russian Journal of Management. 2026. no. 4. pp. 166-181. DOI: https://doi.org/10.29039/2409-6024-2026-14-4-166-181. (Date of access 05.10.2026).

MLA

Julia Semenyuk, Lavrukhin V. C., Stepenko M. V., Tuneva A. V.. "KEY ASPECTS OF MANAGING THE EFFICIENCY OF CASH FLOWS OF A COMMERCIAL ORGANIZATION IN MODERN ECONOMIC CONDITIONS." Russian Journal of Management 14.4 (2026): 166-181. DOI: https://doi.org/10.29039/2409-6024-2026-14-4-166-181.

APA

Semenyuk J. A., Lavrukhin V. C., Stepenko M. V., Tuneva A. V. (2026). KEY ASPECTS OF MANAGING THE EFFICIENCY OF CASH FLOWS OF A COMMERCIAL ORGANIZATION IN MODERN ECONOMIC CONDITIONS. Russian Journal of Management, 14(4), 166-181. https://doi.org/10.29039/2409-6024-2026-14-4-166-181

Chicago

Julia Semenyuk, Lavrukhin V. C., Stepenko M. V., Tuneva A. V.. "KEY ASPECTS OF MANAGING THE EFFICIENCY OF CASH FLOWS OF A COMMERCIAL ORGANIZATION IN MODERN ECONOMIC CONDITIONS." Russian Journal of Management 14, no. 4 (2026): 166-181. https://doi.org/10.29039/2409-6024-2026-14-4-166-181.

WIKI

{{cite journal | author = Semenyuk J. A., Lavrukhin V. C., Stepenko M. V., Tuneva A. V. | title = KEY ASPECTS OF MANAGING THE EFFICIENCY OF CASH FLOWS OF A COMMERCIAL ORGANIZATION IN MODERN ECONOMIC CONDITIONS | journal = Russian Journal of Management | year = 2026 | volume = 14 | issue = 4 | pages = 166-181 | doi = 10.29039/2409-6024-2026-14-4-166-181 }}

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