SYSTEM ANALYSIS OF THE FINANCIAL MANAGEMENT AT JSC “RUSSIAN RAILWAYS†Yu.V. Kondratova

Significant changes in the economic, social and scientific and conditions for the activities of transport companies hut forward new demands on management of transport systems. Improving the reliability of the transport system operation should be adaptive to the environment, as well as provide efficient and stable operation of the railway transport. The implementation of the railway transport structural reform delivered to JSC “Russian Railways†new challenges. Under the conditions of economic globalization it is necessary to make greater use of the positive experience of the coun tries with the developed market economies, and adapt it to the Russian conditions. It is necessary to develop modern methodological approaches to the restructuring of the railway transport companies in order to improve financial management, reduce costs, prepare efficient cash flow budget and invest money and ensure competitiveness in the market conditions. One of the characteristics of today's business environment is the continuing uncertainty in the national economy, the changing conditions of the market of transport services and the strengthening of competition between the types of transport. Therefore, the problem to increase the efficiency of management of railway transport enterprises is of particular importance. The author used a systematic approach to determining the place of balance of payments in the JSC “Russian Railways†current financial management system, and provides suggestions for implementation improvement in the holdings.