Companies by performing their business operations are often in a situation in which they generate cash surpluses and hence there is a need for short-term investments in order to achieve value added, but they are also more often in a situation in which they generate cash deficit and hence there is a need for short-term financing or borrowing. When it is about the case of cash surpluses, then it is necessary to find the optimal combination related to investment opportunities that generate the highest economic benefit to companies. While in the case of cash deficit, it is necessery to find the optimal source of financing that generates the lowest cost of financing. The mehanisms (techniques) of managing cash surpluses and cash deficit are the part of the cash and liquidity management process within the company's working capital management that is one of the fundamental decision of a financial manager. It is about the continuous process of planning, analyses and control of all company's cash flows with an aim to ensure the liquidity and solvency, on the one hand and also the long-term financial stability of a company, on the other. Covering the lack of cash and also the short-term investment of cash surpluses should be planned in advance. Hence, the task of financial managers is to study carefully and to analyze all managerial options that are aveliable to them in order to be able to decide which of them is optimal considering the nature and specifities of company's business operation.