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Static and Dynamic Indicators in the Analysis of Internal Sources of Companies’ Investments Financing

Bukvić, Rajko and Pavlović, Radica and Gajić, Aleksandar (2017): Static and Dynamic Indicators in the Analysis of Internal Sources of Companies’ Investments Financing. Published in: Journal of Modern Accounting and Auditing , Vol. 13, No. 3 (2017): pp. 108-120.

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Abstract

The Republic of Serbia is characterized by an unsatisfactory macroeconomic environment. Under the conditions of an evident shortage of liquid assets, the financial capital has moved from real to the financial sector, which led companies to over-indebtedness and shutdown of their own capacities. Therefore, capital investments largely depend on internal financing sources and the ability of companies to internally generate funds for investments. In this regard, an emphasis is placed on the difference in the assessment of the company’s investment capacity based on internal financing sources, which are measured using static and dynamic indicators in order to prove the necessity of applying dynamic coefficients, which are unfortunately not present in our domestic practice. The paper examines and proves the advantages of the use of the dynamic approach for such analyses using the example of energy sector, which is one of the most important branches in Serbian economy.

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