World scientific research journal
www.wsrjournal.com Volume-26_Issue-3_April -2024
122
LIQUIDITY RISK MANAGEMENT IN THE BANKING SECTOR:
CHALLENGES, STRATEGIES AND IMPLICATIONS
Kholdorov Sardor Umarovich
senior teacher at Tashkent state university of economics
Email: s.xoldorov@tsue.uz
Abstract:
Liquidity risk management is a critical aspect of banking operations,
particularly in the context of maintaining financial stability and ensuring the resilience
of the banking sector. This thesis investigates the challenges, strategies, and
implications associated with liquidity risk management in the banking sector. The
thesis concludes by outlining the implications of liquidity risk management for bank
stability and systemic risk, offering recommendations for banks, regulators, and
policymakers to strengthen liquidity risk management practices. It also suggests areas
for future research to further advance understanding and address emerging challenges
in liquidity risk management.
Key words:
liquidity risk, bank stability, systemic risk, Interbank Markets,
liquidity risk metrics,
Capital adequacy.
We all know that banks, as the most important financial institution, play a decisive
role in the circulation of the currency and wealth of society and have a special position
in the financial system. Therefore, it is clear that the desirable and effective activity of
banks has a significant impact on the development of various economic sectors and on
increasing the quantitative level of output. This article tries to study the assessment of
the impact of liquidity risk on the activity of commercial banks using the methods
proposed by many economists for assessing financial risks. Based on the results of the
preliminary research, we can make the following hypotheses, the variable indicators of
bank volume, bank assets, gross domestic product and inflation lead to the
improvement of bank performance, while credit risk and liquidity risk lead to
weakening of bank performance.
The development of the banking system plays an important role in ensuring the
financial stability and economic development of this country. Therefore, since the first
years of independence, systematic plans for improving the banking system have been
implemented in Uzbekistan, especially in recent years, the reforms in the banking
sector have become intense, and this, in turn, has led to a high level of competition and
the entry of foreign banks into the market of Uzbekistan. characterized by This leads
to the fact that deposits have a high level of security and the confidence of customers
in the activity of banks increases. These two elements contribute to ensuring financial
stability in Uzbekistan.
Currently, a total of 35 commercial banks are operating in Uzbekistan, 10 of them
are state-owned banks, 5 are foreign banks. As of February 2024, 67% of total bank
assets are owned by the state. is accounted for by banks.
As a result of the last global financial crisis in 2008 and changes in banking
activities, many commercial banks are experiencing an increase in operating costs,
which affects the quality of bank loans and financial performance indicators.
World scientific research journal
www.wsrjournal.com Volume-26_Issue-3_April -2024
123
Therefore, based on the competitive conditions in the industry, it is very important for
commercial banks to maintain their positions in liquidity, credit, etc., risk management.
Many big investors don't value the highest yielding capital when investing their money,
instead they focus on reducing their risk.
According to the report of the Central Bank, the liquidity of banks in Uzbekistan
is stable, as of February 1, 2024, the ratio of total bank assets to liabilities is 117% in
banks with a state share, and 120% in other banks. However, in state-owned banks, the
ratio of loans to deposits is 263%, which in turn may hinder the transfer of high
systemic liquidity. Liquidity risk management is very important in order to control the
activity of Uzbekistan's banks and increase their efficiency.
The background and significance of liquidity risk in banking lie at the core of
financial stability and the efficient functioning of the banking sector. Liquidity risk
refers to the risk that a bank may not be able to meet its short-term obligations due to
an inability to convert assets into cash quickly enough to cover liabilities. This risk is
inherent in banking operations and can have far-reaching implications for both
individual banks and the broader financial system.
Several key factors underscore the significance of liquidity risk in banking:
Financial Stability:
Liquidity risk directly impacts the stability of banks and the
overall financial system. A lack of liquidity can lead to financial distress, bank failures,
and systemic crises, as witnessed during the global financial crisis of 2007-2008.
Deposit Withdrawals:
Banks rely on customer deposits as a primary source of
funding for lending and investment activities. In times of uncertainty or financial stress,
depositors may seek to withdraw their funds en masse, leading to liquidity shortages
and potentially triggering a bank run.
Interbank Markets:
Banks often rely on interbank lending and borrowing to
manage their liquidity needs. Disruptions in interbank markets, such as a loss of
confidence or an increase in counterparty risk, can exacerbate liquidity shortages and
impair the functioning of the financial system.
Regulatory
Requirements:
Regulatory
authorities
impose
liquidity
requirements on banks to ensure their ability to withstand liquidity shocks and maintain
financial stability. Basel III introduced global liquidity standards, including the
Liquidity Coverage Ratio (LCR) and the Net Stable Funding Ratio (NSFR), to enhance
banks' resilience to liquidity risk.
Market Perception:
Investors, creditors, and rating agencies closely monitor
banks' liquidity positions and risk management practices. A perception of inadequate
liquidity management can erode market confidence, increase funding costs, and
negatively impact a bank's creditworthiness.
Economic Impact:
Liquidity risk can have broader economic implications,
affecting credit availability, interest rates, and economic growth. A liquidity squeeze
in the banking sector can impair the transmission of monetary policy and hinder the
flow of credit to households and businesses.
Given these considerations, liquidity risk management is a critical function within
banks, requiring robust policies, procedures, and controls to identify, measure,
monitor, and mitigate liquidity risk effectively. Failure to manage liquidity risk
prudently can have severe consequences, highlighting the importance of ongoing
vigilance and regulatory oversight in safeguarding financial stability.
World scientific research journal
www.wsrjournal.com Volume-26_Issue-3_April -2024
124
Various liquidity risk metrics and indicators are used in banking to assess,
measure, and monitor the liquidity position of financial institutions. These metrics help
banks identify potential liquidity vulnerabilities, manage liquidity risk effectively, and
comply with regulatory requirements. Some of the key liquidity risk metrics and
indicators used in banking include:
Liquidity Coverage Ratio (LCR):
The LCR measures a bank's short-term
liquidity resilience by comparing its high-quality liquid assets (HQLA) with its total
net cash outflows over a 30-day stress period. The ratio is expressed as the percentage
of HQLA to net cash outflows and is a key regulatory requirement under Basel III.
Net Stable Funding Ratio (NSFR):
The NSFR evaluates a bank's long-term
funding stability by comparing its available stable funding (ASF) with its required
stable funding (RSF) over a one-year horizon. The ratio assesses the adequacy of a
bank's stable funding sources relative to its long-term assets and commitments.
Loan-to-Deposit Ratio (LDR):
The LDR measures the proportion of a bank's
loans to its deposits and indicates its reliance on customer deposits as a funding source
for lending activities. A high LDR may suggest potential liquidity risk if deposit
funding is insufficient to support loan growth or meet withdrawal demands.
Deposit Runoff Ratio:
The deposit runoff ratio calculates the percentage of
deposits expected to be withdrawn within a specified time period, typically during a
liquidity stress scenario. This metric helps banks assess their vulnerability to deposit
outflows and estimate the potential impact on liquidity reserves.
Cash Coverage Ratio (CCR):
The CCR compares a bank's cash holdings with
its short-term liabilities, providing insights into its immediate liquidity position. A
higher CCR indicates greater liquidity coverage and resilience to short-term funding
needs.
Funding Concentration Metrics:
These metrics evaluate the concentration of
funding sources within a bank's balance sheet, such as the percentage of funding
provided by wholesale funding markets or large depositors. Higher concentration
levels may increase liquidity risk exposure, particularly if funding sources are volatile
or subject to sudden withdrawal.
Time to Exhaustion (TTE):
TTE measures the number of days or months it
would take for a bank to exhaust its available liquidity reserves under stress conditions.
This metric helps assess the sufficiency of liquidity buffers and the potential duration
of liquidity stress events.
Market Liquidity Metrics:
Market liquidity indicators, such as bid-ask spreads,
trading volumes, and market depth, provide insights into the liquidity of financial
instruments and market conditions. Banks use these metrics to assess their ability to
access funding and liquidate assets in stressed market environments.
Contingency Funding Plan (CFP) Metrics:
CFP metrics evaluate the
effectiveness of a bank's contingency funding plan in addressing liquidity stress events.
These metrics assess the availability of alternative funding sources, the activation
triggers for contingency measures, and the response time to mitigate liquidity risk.
Early Warning Indicators (EWIs):
EWIs are leading indicators of potential
liquidity stress, such as changes in deposit flows, funding spreads, or market volatility.
Banks use EWIs to identify emerging liquidity risk trends and take preemptive actions
to strengthen their liquidity position.
World scientific research journal
www.wsrjournal.com Volume-26_Issue-3_April -2024
125
These liquidity risk metrics and indicators play a crucial role in banks' liquidity
risk management practices, providing valuable insights into their liquidity profiles,
vulnerabilities, and resilience to adverse market conditions. By monitoring these
metrics regularly and incorporating them into decision-making processes, banks can
enhance their liquidity risk management frameworks and maintain financial stability.
Factors influencing liquidity risk in the banking sector can be categorized into
macroeconomic, bank-specific, and regulatory factors. These factors interact and shape
the liquidity risk profile of banks, influencing their ability to meet short-term
obligations and manage liquidity effectively. Here's a closer look at each category:
Macroeconomic Factors:
Interest Rates:
Changes in interest rates, particularly short-term rates set by
central banks, affect banks' funding costs, profitability, and the attractiveness of
various assets. Rising interest rates may increase funding expenses, reduce asset values,
and impact market liquidity, while declining rates may stimulate borrowing and
investment but also compress margins.
Economic Conditions: Macroeconomic variables such as GDP growth, inflation,
unemployment rates, and consumer confidence influence deposit growth, loan demand,
and credit quality. Economic downturns can lead to reduced liquidity, higher loan
defaults, and increased funding pressures for banks.
Bank-Specific Factors:
Size:
Larger banks typically have more diversified funding sources, greater access
to capital markets, and larger liquidity buffers compared to smaller banks. However,
large banks may also face challenges managing liquidity across multiple business lines
and jurisdictions.
Capital Adequacy:
Adequate capitalization is essential for absorbing unexpected
losses and maintaining investor confidence, particularly during liquidity stress events.
Banks with higher capital levels are better positioned to withstand liquidity shocks and
meet regulatory requirements.
Business Model:
Banks' business models, including their mix of lending
activities, funding sources, and reliance on wholesale funding markets, can
significantly influence their liquidity risk profiles. Retail-oriented banks with stable
deposit bases may exhibit lower liquidity risk compared to investment banks or
wholesale-funded institutions.
Regulatory Factors:
Basel III Requirements:
Basel III introduced enhanced liquidity risk
management standards, including the Liquidity Coverage Ratio (LCR) and the Net
Stable Funding Ratio (NSFR), to strengthen banks' resilience to liquidity shocks.
Compliance with Basel III requirements requires banks to maintain adequate liquidity
buffers and stable funding sources.
Central Bank Policies:
Monetary policy actions by central banks, such as
changes in interest rates, open market operations, and liquidity provision facilities, can
impact banks' funding costs, market liquidity, and overall financial conditions. Central
bank interventions during periods of financial stress aim to mitigate systemic liquidity
risk and support banking sector stability.
Understanding and monitoring these factors is crucial for banks in assessing their
liquidity risk exposure, implementing effective risk management strategies, and
World scientific research journal
www.wsrjournal.com Volume-26_Issue-3_April -2024
126
ensuring compliance with regulatory requirements. By proactively addressing
macroeconomic, bank-specific, and regulatory challenges, banks can enhance their
liquidity risk resilience and maintain financial stability in dynamic market
environments.
Recommendations for enhancing liquidity risk management practices encompass
actions for banks, regulators, and policymakers to strengthen resilience, improve
transparency, and promote financial stability. Here are some key recommendations:
Develop Robust Liquidity Risk Management Frameworks: Establish
comprehensive liquidity risk management policies, procedures, and controls tailored
to the bank's risk profile, business model, and regulatory requirements. Implement
robust liquidity risk measurement, monitoring, and reporting systems to identify,
assess, and manage liquidity risk effectively.
Maintain Adequate Liquidity Buffers: Maintain sufficient liquidity buffers,
including high-quality liquid assets (HQLA), to meet short-term funding needs and
regulatory requirements. Conduct regular stress testing and scenario analysis to assess
liquidity resilience under adverse market conditions and adjust liquidity strategies
accordingly.
Diversify Funding Sources: Diversify funding sources and funding tenors to
reduce reliance on volatile or concentrated funding channels. Cultivate stable deposit
bases, foster long-term funding relationships with institutional investors, and explore
alternative funding options to enhance liquidity risk resilience.
Strengthen Contingency Funding Plans: Develop robust contingency funding
plans (CFPs) with clear activation triggers, escalation procedures, and liquidity risk
mitigation strategies. Test CFPs through scenario-based simulations and drills to
ensure readiness to respond effectively to liquidity stress events.
By implementing these recommendations collaboratively, banks, regulators, and
policymakers can strengthen liquidity risk management practices, enhance financial
resilience, and mitigate systemic risks, thereby promoting stability and confidence in
the banking sector and the broader financial system.
References
1.
Sardor
Umarovich
Kholdorov
(2022).
Investitsion
loyihalarini
moliyalashtirishda xavflarni baholash va boshqaruv masalalari. "
The processes of
digital transformation in the economy, finance and management in the context of a
pandemic"
, 6, 916-927 pp.
2.
Сардор Умарович Холдоров (2022).
Рақамли иқтисодиёт шароитида
инвестицион фаолиятини молиялаштириш истиқболлари.
“Ўзбекистоннинг
тараққиёт стратегияси: мақсад, тамойиллар ва ривожланиш истиқболлари”
,
3, 326-329 б.
3.
Klichev, B. (2024, февраль 23). Inson kapitalini rivojlantirishda ishchilar
harakati tahlili. Ilm-fan taraqqiyotida mintaqaviy iqtisodiyotni rivojlantirish va
kambag'allikni
qisqartirish,
Farg'ona,
O'zbekiston.
https://doi.org/10.5281/zenodo.10901976
4.
Қличев, Б. (2021, май 21). Маҳсулот (иш, хизматлар) га баҳо
шакллантириш масалалари. Бухгалтерия ҳисоби ва аудиторлик фаолиятини
World scientific research journal
www.wsrjournal.com Volume-26_Issue-3_April -2024
127
халқаро стандартлар асосида ташкил этишнинг долзарб масалалари.
https://doi.org/10.5281/zenodo.10647005
5.
Қличев, Б. (2021, май 21). Ўзбекистонда ишбилармонлик фаоллиги
таҳлилини ташкил этиш. Бухгалтерия ҳисоби ва аудиторлик фаолиятини халқаро
стандартлар
асосида
ташкил
этишнинг
долзарб
масалалари.
https://doi.org/10.5281/zenodo.10646960
6.
Қличев, Б. (2021, май 5). Ишбилармонлик фаоллиги индекси
таҳлили. Biznes-tahlilni rivojlantirishning zamonaviy tendensiyalari va istiqbollari.
https://doi.org/10.5281/zenodo.10647021
7.
Қличев, Б. (2022, сентябрь 16). Операцион фаолият таҳлилида
харидор танлови асосида маҳсулотга баҳо шакллантириш масалалари.
Инновацион ёндашув асосида молиявий ҳисоботнинг халқаро стандартларини
жорий этиш.
https://doi.org/10.5281/zenodo.10647059
8.
Қличев Бахтиёр Пардаевич. (2024). Ишчилар қўнимсизлиги
таҳлили.
World Scientific Research Journal
,
23
(2), 287–294. Retrieved from
http://wsrjournal.com/index.php/wsrj/article/view/3042
9.
Adurahimov, A. Z., & Ergashov, I. O. (2023). Ta’limda texnalogiyalarni
qo‘llash hamda xorijiy tillarni o‘rgatish orqali mutaxassislarni malakali kadr sifatida
chiqarish islohatlari. Scientific approach to the modern education system, 2(18), 62-
64.
10.
Adurahimov, A. Z., & Ergashov, I. O. (2023). Kichik biznesga qanday
yengilliklar beriladi, kimlar 20 mln yoki 30 mln to‘lasa soliq hisobotini yuritishi shart
emas, 2023 yilgi soliq o‘zgarishlari. ijodkor o'qituvchi, 3(32), 30-32.
11.
Қиличев Ботир Пардаевич. (2024). COVID-19 пандемиясидан кейин
туризмни ривожлантириш йўналишлари. Образование наука и инновационные
идеи
в
мире,
39(2),
130–134.
Retrieved
from
https://newjournal.org/index.php/01/article/view/11578/11219
12.
Abdullaevich, K. M. (2020). Issues to enhance financial literacy on
extrabudgetary targeted funds.
International Journal of Research in Social
Sciences
,
10
(8), 129-135.
13.
Қурбонов Мухиддин Абдуллаевич. (2024). Яширин иқтисодиётга
қарши курашишда фискаль сиёсат, хорижий тажриба, муаммо ва ечимлар. World
Scientific
Research
Journal,
23(2),
257–265.
Retrieved
from
http://www.wsrjournal.com/index.php/wsrj/article/view/3039
14.
Қурбонов Мухиддин Абдуллаевич. (2024). Солиқ маъмурчилигида
молиявий технологиялар – хуфиёна иқтисодиётни қисқартириш омили сифатида.
World
Scientific
Research
Journal,
23(2),
266–276.
Retrieved
from
http://www.wsrjournal.com/index.php/wsrj/article/view/3040
15.
Қурбонов Мухиддин Абдуллаевич. (2024). Қўшилган қиймат
солиғини қўллашнинг халқаро амалиётдаги моделлари. World Scientific Research
Journal,
23(2),
295–302.
Retrieved
from
http://www.wsrjournal.com/index.php/wsrj/article/view/3043
16.
Қурбонов Мухиддин Абдуллаевич. (2024). Хуфиёна иқтисодиёт
шароитида фискал сиёсати ва унинг назарий асослари. World Scientific Research
Journal,
23(2),
303–313.
Retrieved
from
World scientific research journal
www.wsrjournal.com Volume-26_Issue-3_April -2024
128
17.
Қурбонов Мухиддин Абдуллаевич. (2024). Божхона тўловларини
ундиришда молиявий технологияларини қўллаш амалиётини такомиллаштириш.
World
Scientific
Research
Journal,
23(2),
314–324.
Retrieved
from
http://www.wsrjournal.com/index.php/wsrj/article/view/3045
18.
Қурбонов Мухиддин Абдуллаевич. (2024). Erkin iqtisodiy zonalar
faoliyatini takomillashtirish va normativ-huquqiy asoslari. World Scientific research
Journal,
23(2),
344–351.
Retrieved
from
http://www.wsrjournal.com/index.php/wsrj/article/view/3048
19.
Қурбонов Мухиддин Абдуллаевич. (2024). Fiskal siyosat boʻyicha xorijiy
mamlakatlar tajribasi va uni qoʻllash muammolari. World Scientific Research Journal,
23(2),
352–361.
Retrieved
from
http://www.wsrjournal.com/index.php/wsrj/article/view/3049
20.
Dusiyarov, S. K. (2021). Issues Of Supporting Activities Of Business
Entities Through Improving Tax Administration In Uzbekistan.
Academicia
Globe
,
2
(11), 51-59.
21.
Dusiyarov, S. X. (2023). Stages of entrepreneurship development in
uzbekistan and its role in the national economy.
Modern Science and Research
,
2
(6),
16-25.
22.
Дусиярoв Ш. (2021). Кичик тадбиркорлик субъектлари молиявий
фаолиятига солиқларнинг таъсири таҳлили, Iqtisodiyot va taʼlim, 2021, 6, 105-109.
https://cedr.tsue.uz/index.php/journal/article/view/289 .
23.
Дусияров, Ш., Чоршанбаев, У., & Муратжанова, Л. (2024). Саноатни
модернизациялашда
самарали
солиқ
механизмларидан
фойдаланиш
йўллари.
Iqtisodiy taraqqiyot va tahlil
,
2
(2), 367-376.
24.
Fayziev, F. (2021). Маҳаллий бюджет даромадларини оширишда
мулкий солиқларнинг аҳамияти. Архив научных исследований, 2(1). извлечено
от https://journal.tsue.uz/index.php/archive/article/view/305
25.
Файзиев Фаррух Абдуллахожаевич. (2024). Ўзбекистонда ўзини ўзи
банд қилиш: ривожланиш истиқболлари ва солиқ тизимидаги ўрни. World
Scientific
Research
Journal,
23(2),
387–402.
Retrieved
from
http://www.wsrjournal.com/index.php/wsrj/article/view/3052
26.
Abdullakhojaevich, F. F. (2020). Peculiarities of assessing real estate by
market value for the taxation purpose.
International Journal of Research in Social
Sciences
,
10
(7), 92-100.
27.
Файзиев, Ф. (2020). Солиқ солиш мақсадида кўчмас мулкни бозор
қийматида баҳолашнинг ўзига хос хусусиятлари.
Экономика и инновационные
технологии
, (1 (2)), 218-227.
28.
Тулаев,
М.
С.,
&
Кличев,
Б.
П.
(2022).
ВОПРОСЫ
СОВЕРШЕНСТВОВАНИЕ УЧЕТА КОРПОРАТИВНЫХ ОБЛИГАЦИИ:
ОБЯЗАТЕЛЬСТВО ИЛИ КАПИТАЛ. Учет, анализ и аудит: их возможности и
направления эволюции, 146-154.
29.
Хамидова Сулув Янгибоевна. (2023). Халқаро амалиётда ички
аудиторлик текширувларини ўтказиш услубиётини ва ички аудитнинг халқаро
стандартларини такомиллаштириш асослари.
"XXI ASRDA INNOVATSION
TEXNOLOGIYALAR, FAN VA TAʼLIM TARAQQIYOTIDAGI DOLZARB
MUAMMOLAR" nomli respublika ilmiy-amaliy konferensiyasi
,
1
(8), 8–22.
World scientific research journal
www.wsrjournal.com Volume-26_Issue-3_April -2024
129
30.
Хамидова С.Я. (2023). Молиявий ҳисоботларни трансформация қилиш
ва параллел усулларда тузишнинг ташқилий жиҳатлари.
"Conference on Universal
Science Research 2023"
,
1
(8), 18–23.
31.
Yuldashev, J. A. (2023). Marketing Principles of Formation of Reserve Funds
in the Practice of Commercial Banks.
EUROPEAN JOURNAL OF BUSINESS
STARTUPS
AND
OPEN
SOCIETY
,
3
(5),
1–6.
Retrieved
from
https://inovatus.es/index.php/ejbsos/article/view/1650
32.
Юлдашев, Ж. А. (2023). Изучение современного состояния банковских
поступлений,
формы
развития
внутрибанковских
и
межбанковских
расчетов.
World scientific research journal
,
12
(2), 186-196.
33.
Юлдашев, Ж. А. ТИЖОРАТ БАНКЛАРИДА МИЖОЗЛАР БИЛАН
МУНОСАБАТЛАР
ҲОЛАТИНИ
БАҲОЛАШ
УСУЛИНИ
ТАКОМИЛАШТИРИШ.
34.
Yuldashev, J. A. (2022). Mechanisms of Customer Attraction Based on
Marketing Strategies in Commercial Banks.
EUROPEAN JOURNAL OF BUSINESS
STARTUPS
AND
OPEN
SOCIETY
,
2
(10),
25–32.
Retrieved
from
https://inovatus.es/index.php/ejbsos/article/view/1313
35.
Самадова, Н. Р. (2024). КОРХОНА ИҚТИСОДИЙ САЛОҲИЯТИНИНГ
КОМПЛЕКС ТАҲЛИЛИ COMPLEX ANALYSIS OF THE ECONOMIC
COMPETENCE OF THE ENTERPRISE.
World scientific research journal
,
23
(2),
174-181.
36.
Samadova Nargiza Rasulovna. (2023). Ways to Analyze Financial
Potential Based on the Balance Sheet.
Central Asian Journal of Innovations on
Tourism
Management
and
Finance
,
4
(12),
65-67.
Retrieved
from
https://cajitmf.centralasianstudies.org/index.php/CAJITMF/article/view/661
37.
Абдуллаев
Аброр
Бозарбоевич.
(2023).
Корхона
солиқ
мажбуриятларини самарали бошқаришни таъминлашда солиқ аудитининг роли.
World
Scientific
Research
Journal,
21(1),
134–142.
Retrieved
from
http://www.wsrjournal.com/index.php/wsrj/article/view/2871
38.
Абдуллаев, А. Б. (2019). Совершенствование учета и анализа налогов
improvement of accounting and analysis of taxes. ББК 65.052 Б 94, 10.
39.
Абдуллаев Аброр Бозарбоевич. (2023). Солиқ таваккалчилигини
бошқаришда солиқ аудитининг роли ва вазифалари. World Scientific Research
Journal,
21(1),
166–175.
Retrieved
from
http://www.wsrjournal.com/index.php/wsrj/article/view/2874
40.
Abdullayev, A. B., & Ochilov, O. I. (2021). A new approach to the
methodology of tax analysis. Asian Journal of Research in Business Economics and
Management, 11(9), 19-25.
41.
Якубов Улугбек Касимович. (2024). Хўжалик юритувчи
субъектларнинг молиявий- иқтисодий ҳолатини таҳлилида ташқи иқтисодий
фаолият кўрсаткичларидан фойдаланиш масалалари. World Scientific Research
Journal,
23(2),
428–436.
Retrieved
from
http://www.wsrjournal.com/index.php/wsrj/article/view/3055
42.
U.Yakubov, Q.Altiyev, Sh.Maxmudova. (2022). Biznes tahlilda raqamli
texnologiyalar. (Darslik). –T.: “Nihol print”, 236 b.
World scientific research journal
www.wsrjournal.com Volume-26_Issue-3_April -2024
130
43.
Мамат
қулов, А. Х. (2023). Пахтани қайта ишлаш корхоналарида ишлаб чиқариш
харажатлари
бўйича
таннархни
ҳисоблаш
усулларини
такомиллаштириш.
Gospodarka i Innowacje.
,
41
, 142-145.
44.
Маматкулов, А. (2017). Совершенствование учета затрат в
производственном учете на хлопкоперерабатывающем предприятии. Экономика
и
инновационные
технологии,
(3),
111–117.
извлечено
от
https://inlibrary.uz/index.php/economics_and_innovative/article/view/9264
45.
Rozmatovna, Y. U. (2022). Improvement of Intangible Assets Accounting
and Auditing.
Texas Journal of Multidisciplinary Studies
,
9
, 102-104.
46.
Rozmatova
Umida
Yuldashevna.
(2023).
IQTISODIYOTNI
TARTIBLASHDA
BОZОR
MЕХANIZMI
.
Journal
of
New
Century
Innovations
,
30
(3),
12–13.
Retrieved
from
https://newjournal.org/index.php/new/article/view/7342
47.
Nurmanov, U. A. (2022). Budgeting in the management of current
assets.
Berlin Studies Transnational Journal of Science and Humanities
,
2
(1.1
Economical sciences).
48.
У.А. Нурманов. (2024). Жорий активларни бошқаришда тизимли
ёндашишни такомиллаштиришнинг муҳимлиги. World Scientific Research
Journal,
23(2),
277–286.
Retrieved
from
http://www.wsrjournal.com/index.php/wsrj/article/view/3041
49.
Yuldasheva, U. A. (2022). THE IMPACT OF THE TAX BURDEN ON
THE FINANCIAL ACTIVITIES OF BUSINESS ENTITIES.
ILMIY TADQIQOT VA
INNOVATSIYA
,
1
(1), 55-63.
50.
Yuldasheva Umida Asanaliyevna. (2024). WAYS TO OPTIMIZE THE
TAX
BURDEN
ON
ORGANIZATIONS
IN
THE
REPUBLIC
OF
UZBEKISTAN.
American Journal of Business Management, Economics and
Banking
,
20
,
248–253.
Retrieved
from
https://www.americanjournal.org/index.php/ajbmeb/article/view/1782
51.
Yuldasheva,
U.
(2022).
IQTISODIYOTNING
XALQARO
INTEGRATSIYASIDA
INVESTITSIYALARNING
O’RNI
VA
AXAMIYATI. INTERNATIONAL СONFERENCE ON LEARNING AND
TEACHING, 1(4),
336–345.
Retrieved
from
https://researchedu.org/index.php/iclt/article/view/2742
52.
Юлдашева, Д. A. (2024). ИНФОРМАЦИОННАЯ ОСНОВА
ОЦЕНКИ
СОБСТВЕННОГО
КАПИТАЛА
ХОЗЯЙСТВУЮЩИХ
СУБЪЕКТОВ.
World scientific research journal
,
23
(2), 57-66.
53.
Yuldasheva D.A. (2023). INFORMATION AND ANALYTICAL
BUSINESS ENVIRONMENT AND ITS INTERACTION WITH ACCOUNTING IN
THE DIGITAL ECONOMY.
European Journal of Research Development and
Sustainability
,
4
(1),
9-12.
Retrieved
from
https://scholarzest.com/index.php/ejrds/article/view/3106
54.
Сагдиллаева, З. А. (2024). ФИНАНСОВЫЙ АНАЛИЗ НА
СОВРЕМЕННОМ ЭТАПЕ РАЗВИТИЯ: ТЕОРИЯ И ПРАКТИКА.
World scientific
research journal
,
23
(2), 191-198.
World scientific research journal
www.wsrjournal.com Volume-26_Issue-3_April -2024
131
55.
Сагдиллаева, З. А. (2024). СОДЕРЖАНИЕ И ПОРЯДОК
ПРОВЕДЕНИЯ
АНАЛИЗА
ФИНАНСОВОЙ
ОТЧЁТНОСТИ,
СФОРМИРОВАННЫЙ НА ОСНОВЕ МСФО.
World scientific research
journal
,
23
(2), 437-442.
56.
Klichev Bakhtiyor Pardayevich. (2022). ISSUES OF PRODUCT
PRICING IN THE ANALYSIS OF OPERATIONAL. Пандемия шароитида
иқтисодиёт, молия ва бошқарувда рақамли трансформация жараёнлари (IV
ФОРУМ «ЭКОНОМИКА В МЕНЯЮЩЕМСЯ МИРЕ» 2022 май КАЗАНЬ-
ТАШКЕНТ), Казань-Ташкент.
https://doi.org/10.5281/zenodo.6641015
57.
Qlichev Baxtiyor Pardayevich. (2023). Xoʻjalik yurituvchi subyektlarda
ishlab chiqarishning maksimal hajmi tahlili. YASHIL IQTISODIYOT VA
TARAQQIYOT, 5 (2023), 187–192.
58.
Қличев Бахтиёр Пардаевич. (2023). ОПЕРАЦИОН ФАОЛИЯТ
ТАҲЛИЛИНИ ТАШКИЛ ЭТИШ МАСАЛАЛАРИ . World Scientific Research
Journal,
12(2),
263–271.
Retrieved
http://wsrjournal.com/index.php/wsrj/article/view/2557
59.
Қличев, Б. П. (2022). Маҳсулот сотиш ҳажми таҳлилини
такомиллаштириш масалалари.
Science and Education
,
3
(5), 1719-1728.
60.
САГДИЛЛАЕВА, З. А., & ЧОРИЕВ, И. Х. (2016). Проблемы аудита
оплаты
труда.
In
СОВРЕМЕННЫЕ
ПРОБЛЕМЫ
УПРАВЛЕНИЯ
И
РЕГУЛИРОВАНИЯ: ПОИСК ОПТИМАЛЬНЫХ РЕШЕНИЙ
(pp. 113-119).
61.
Choriev, I., & Mamatqulov, A. (2018). THE EFFECT OF
DEVELOPMENT OF SMALL BUSINESS ON SEGMENTAL SEPARATION OF
POPULATION.
International Finance and Accounting
,
2018
(5), 12.
62.
Тулаев Мирзакул Саламович. (2024). РАСЧЕТ РЕНТАБЕЛЬНОСТЬ
СОБСТВЕННОГО КАПИТАЛА (ROE) В УЗБЕКИСТАНЕ . World Scientific
Research
Journal,
23(2),
182–190.
Retrieved
from
http://www.wsrjournal.com/index.php/wsrj/article/view/3031
63.
Тулаев
Мирзакул
Саламович.
(2024).
МОЛИЯВИЙ
ҲИСОБОТЛАРНИ КОЭФФИЦЕНТЛАР ЁРДАМИДА ТАҲЛИЛ ҚИЛИШ
МАСАЛАЛАРИ . World Scientific Research Journal, 23(2), 149–162. Retrieved from
http://www.wsrjournal.com/index.php/wsrj/article/view/3028
