Primena višedimenzionalnih pokazatelja za racionalnu analizu likvidnosti privrede Republike Srbije
Application of multidimensional indicators for rational analysis of liquidity of the economy of the Republic of Serbia

Summary/Abstract: The problem of liquidity itself is an “evergreen” topic of discussion at various levels of public, social, scientific, and especially economic life, which is always relevant in the crisis business conditions that are expressed today, both in our country and in the world. The principle of liquidity contains the basis of quality and successful business and is the key to the smooth running of the production and turnover process, from the aspect of cash inflows and outflows, so it is no coincidence that liquidity is compared to “pulse” which reflects “health” or “disease”. The traditional, static, dimension of liquidity analysis based on accrual accounting basis and relations can serve as a warning of the danger and consequences of irrational disposition of money, but not as an orientation for future cash flows. The modern, dynamic, dimension of liquidity analysis based on “financial opinion” treats liquidity not only at a given moment, but in the course of the company’s operations and is future-oriented; the treatment of actual transactions in cash transactions and its equivalents (deprived of the use of valuation methods) is taken into account. Hence, in the practice of liquidity management, dilemmas are generated on the choice of a suitable analytical model, which could respond to management needs. The aim of this paper is to highlight a relevant integral application of multidimensional indicators for rational liquidity analysis for the period from 2017 to 2019. The results of the research on the example of selected companies and activities from the Republic of Serbia show the expediency of preferring multidimensional indicators for meritorious liquidity analysis.

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