Finanse, Rynki Finansowe, Ubezpieczenia

Purpose – This article aims to present measures related to the management of working capital, informing about threats to the loss of liquidity. The article shows how the different elements forming the working capital impact on liquidity. Design/methodology/approach – The study involved 50 small and medium-sized companies operating in the same industry from across the Polish. The study covered the period of 2012–2014.The surveyed companies were divided into two groups with high liquidity and low. The study used the financial statements of companies and selected financial ratios. Findings – The study showed that a simple analysis of the various elements making up the working capital supported by the assessment of changes in operating costs and revenues from the sale of permits to assess the extent to which companies are exposed to the risk of losing financial liquidity. Originality/value – The study showed the most important indicators of the financial capital of the analysis of which allows to evaluate the risks associated with the loss of liquidity in commercial enterprises. Systematic monitoring of selected indicators can capture signals from the financial statements indicating the possibility of reducing current liabilities.