Annotation: The dynamism of the external environment and the intensification of competition within the framework of Ukraine's European integration pose a problem for domestic enterprises to ensure high efficiency and financial balance in both the short and long term. This requires the development of an effective economic mechanism for the formation and use of cash flows of enterprises in order to ensure maximum efficiency of all types of resources, cost optimization and full provision of enterprises with financial resources at all stages of operational and financial process. Recently, the activities of domestic enterprises are characterized by a decrease in cash flows from all activities, rising costs and declining profitability. This necessitates the development of approaches to the formation of an effective economic mechanism for managing cash flows of the enterprise, which will provide an opportunity to maintain a sufficient level of solvency and financial stability of the enterprise. In this paper, we consider the nature and types of cash flows of enterprises, as well as identify the main aspects of the economic mechanism of formation and use of cash flows of the enterprise.