【摘要】The goal of cash flow management of modern companies is discussed in terms of theory.It is tried to argue from the aspects of the essence of capital, limit of external environment and internal needs of company administration that the goal of cash flow management of modern companies is sustainable value creation.In the second part, we did a research about the ultimate goals and specific ones of cash flow management in the interviewees companies.At last the whole argument of the above theory is proved by the statistic analysis of survey results.