Discussion on enterprise fund management paper
On Enterprise Fund Management Thesis —— Research on Enterprise Fund Management
Abstract: Capital is the blood of an enterprise, and capital management plays a very key role in enterprise financial management. The rise and fall of an enterprise depends largely on its fund management level. This paper analyzes the problems existing in the capital management of Chinese enterprises, and advances some solutions.
Keywords: enterprise; Fund management; Problems; Countermeasures
1. Introduction
In recent years, the market competition has become more and more fierce, and the living environment of enterprises has become more and more difficult. Therefore, a very important problem facing enterprises at present is to strengthen financial management and avoid financial risks better. A very important part of financial management is fund management, which is the most direct trigger point of financial risk and plays a very key role in enterprise management. This paper will analyze the problems existing in the capital management of Chinese enterprises at present, and put forward corresponding solutions to the existing problems.
2. Problems in enterprise fund management
2. 1 Low level of fund management and unreasonable allocation
At present, many enterprises in China are short of funds, but they occupy more funds in many aspects, which leads to poor efficiency in the use of funds. In the process of using funds, many enterprises have low efficiency in using funds, which is largely caused by centralized management and decentralized occupation of funds by internal multi-level management institutions. Although almost all enterprises have made their own plans for the use of funds, there are very few enterprises that actually use funds according to the plan, and many enterprises have poor operability of the plans, which leads to the poor operation of their funds [1].
2.2 The internal control system of funds is not perfect.
A complete and sound fund management system is an indispensable guarantee for the normal operation of enterprises. A set of fund management system suitable for enterprise scale plays a very important role in preventing corruption and ensuring the safety of enterprise funds. Failure to strictly abide by the rules and regulations and taking advantage of the loopholes in the system are very common in some enterprises, which leads to the failure of enterprises to achieve the expected results in the process of implementing the system. In addition, the leaders of many enterprises, especially some state-owned enterprises, have great administrative intervention in the fund management department, which leads to poor capital flow of enterprises. In addition, investors can't get reliable information in the process of fund management. Due to the low management level of some enterprises in China, the internal fund information is seriously opaque, and only a few senior managers know it, which makes many enterprises in China have the phenomenon of accounting information distortion, which in turn leads investors to make good investment decisions.
2.3 improper financing and irrational investment
It is reported that many small and medium-sized enterprises in China often have no reasonable prediction and decision when raising funds, and they are not very clear about how much funds they need and how to use them. If enterprises want to make scientific decisions, they must consider these issues comprehensively and carefully before financing. However, due to the cautious awareness of investment and financing and the lack of professional and technical personnel, many enterprises only rely on experience and intuition when making investment decisions [2]. Many small and medium-sized enterprises often exist when financing? Less, more urgent, more times Problems, coupled with low reputation, lead to a relative increase in financing costs. In addition, the scale of investment projects cannot be well predicted when investing, the technical strength is not strong, the follow-up funds are insufficient, and the products are homogenized, which leads to high input and low output in many projects. For example, a medium-sized A enterprise in Xinjiang. The company was reorganized in 2008. Because enterprise management involves different industries, the centralized management of funds implements the system of two lines of revenue and expenditure. As a result, the subordinate subsidiaries are short of funds. When the subordinate enterprises encounter emergency payment in the actual production and operation process, they cannot solve it in time. Need to go through layers of examination and approval procedures. The investment field is influenced by many historical factors before the enterprise transformation. As a result, funds flowed to unfamiliar industries, resulting in investment for about 3 years, and no good investment income was received.
3. Countermeasures to strengthen enterprise fund management
3. 1 comprehensive fund budget
The normal operation of enterprises can not be separated from a perfect capital budget system, and the basic basis of enterprise supervision, audit, control and assessment is a perfect capital budget system. Capital budget management consists of three parts: budget adjustment and implementation tracking management, budget preparation, supervision and assessment. Therefore ... capital management plays a key role in the survival of enterprises, and capital budget management is the key. In order to improve economic benefits, enterprises can only do a good job in capital budget management and adopt corresponding control measures to dredge the circulation of funds.
3.2 Improve the internal supervision and management system of enterprises
A sound financial management system can make the financial personnel of enterprises have rules to follow. First of all, enterprises must establish a post responsibility system for capital business, clarify the responsibilities and authorities of relevant departments and posts, and ensure that each post handling capital business is separated, restricted and supervised; Secondly, strict fund examination and approval system, especially large funds; Finally, we should not only pay attention to the completion of the project, the implementation of the budget and the efficiency of the use of funds, but also supervise the legitimacy and rationality of the budget, the rigor of internal control and the economy of project decision-making [3]. In addition, the improvement of internal audit supervision and control system is also very important for enterprises, and it is not enough to only supervise financial accounting information and operating performance. More importantly, it is necessary to audit and supervise the implementation of enterprise rules and regulations and major business decisions, invest more manpower and material resources in management audit, and strengthen the control of funds, so that enterprises can carry out fund management activities in an orderly manner as planned.
3.3 Adjust the capital structure and attach importance to the expansion of short-term financing capacity.
Reasonable debt-to-equity ratio, that is, capital structure, can well promote the realization of enterprise planning objectives. Therefore, in fund management, enterprises should weigh debts and rights as well as risks and benefits as much as possible, and make financing decisions from two aspects: borrowing and offering, so as to create maximum profits for enterprises. Secondly, when borrowing money, we should make good use of various short-term financing methods to better solve the problem of insufficient funds for enterprises. For example, if an enterprise originally planned to use long-term funds to finance some projects, but it can't borrow long-term funds because of the poor financial market, it can try to use short-term funds first, and then replace short-term funds with long-term funds after the financial market improves. At present, the main short-term financing means that enterprises can use are commercial credit and short-term bank loans. More and more enterprises should pay attention to the benefits of short-term capital financing, manage it well, work hard, increase profits, maintain a good financial situation of enterprises, and avoid or reduce the high risks of short-term capital financing as much as possible.
4. Conclusion
In a word, the role of funds to enterprises is just like the role of blood to people, so the role of fund management to enterprises is self-evident. If an enterprise wants to achieve sustainable development, it must improve its management level, and doing a good job in fund management is the key to improve its management level. Every enterprise should study how to improve its own fund management level, which is the key link of the overall planning of the enterprise. In order to make the level of fund management higher and higher, enterprises must find the problems in fund management as soon as possible, analyze and solve the problems in fund management. (Author: Xinjiang Lu Mei Industry and Trade Co., Ltd.)
refer to
Yuan Qinghui. Strengthening enterprise fund management and improving fund operation effect [J]. China Market.20 20 10/0,34 (04): 23-25.
[2] Hao Xiangfeng. On the problems and solutions of enterprise fund management [J]. Modernization of shopping centers. 2009，24 (06): 35-38。
[3], Wei. Analysis on the present situation and countermeasures of enterprise fund management [J]. Accounting Monthly Report, 2005,15 (03):12-15.
On Enterprise Fund Management (Ⅱ) "On Enterprise Fund Management"
Abstract: Fund management is the most important guarantee for enterprises to become bigger and stronger. In view of some problems existing in enterprises at present, this paper expounds in detail some concrete measures for strengthening fund management.
[Keywords:] enterprise, fund management
With the further deepening of China's market economic system reform, enterprises will be pushed to the market in all directions, and a relatively perfect modern enterprise system will be gradually established. The key to enterprise competition lies in financial fund management.
First, the significance of strengthening enterprise fund management
Fund management is the business strategy of an enterprise. Through management, the funds can be settled in a unified way, arranged as a whole and used reasonably to avoid the risks brought by cardiopulmonary bypass. In the financial activities of enterprises, capital is always a current asset worthy of attention, and capital management is the core of enterprise financial management.
Second, the problems existing in enterprise fund management
1. Lack of strict monitoring. Some enterprises' monitoring is not in place, and the fund management system exists in name only. Although the main leaders of the unit are the first responsible person for the supervision and management of the fund safety of the unit, they failed to approve the budget, financing and investment plan of the unit according to the prescribed procedures, supervised the use of funds, organized and established a sound internal control system for fund management, and the supervision and implementation were not in place.
2. The implementation of the budget system is not in place, and the use of funds cannot be reasonably controlled. On the basis of sustainable development, enterprises should track and analyze the sources of their costs and benefits in time. Many enterprises have not established and improved the budget management system. Even if some enterprises have a budget management system, it has not become the system on which their production and business activities are based. There are some problems in the scientific and rigid budget, emphasis on the implementation level, methods and assessment.
3. The management of monetary funds is chaotic. Monetary funds are cash, bank deposits and other monetary funds owned by enterprises. However, in some enterprises, the monetary fund management system is not perfect, the separation of incompatible duties is not implemented, and the safety of fund circulation is not guaranteed from the organizational setting. The management of original vouchers is chaotic, and the system of regular reconciliation and reimbursement is not fulfilled seriously, so it is impossible to clarify the responsibilities, authorities and procedures for purchasing, keeping, collecting, endorsing, transferring and canceling various bills.
Third, some suggestions on strengthening fund management.
1. Strengthen the management of various monetary funds. (1) Monetary funds refer to funds that remain in monetary form in production and business activities, including cash, bank deposits and other monetary funds. All enterprises and units shall open and manage bank accounts in accordance with the relevant requirements, and shall not open multiple accounts, standardize the management of bank accounts, and clean up all bank accounts in time. The opening, alteration and cancellation of accounts shall be subject to the examination and approval and filing system. Actively establish a settlement center, and all kinds of accounts should be centrally managed by the settlement center. (two) the implementation of the joint signing system for the use of large funds, the main person in charge of the unit, the chief accountant and the financial controller must sign and approve the use of large funds by the unit. The specific form of large-sum joint signing should be a unified standard text. The basic items and elements to be possessed should include: name, reason, department, person in charge, nature and scale of funds, opinions of each person in charge, etc. Financial managers who use large sums of money and financial leaders of handling departments shall be responsible for the completeness of legal compliance procedures. Anyone who does not meet the standard procedures will be refused to handle it. (3) All enterprises and units should follow the principle of centralized management by accounting departments, meet business needs and ensure the safety of funds, and implement the management system of examination and approval and filing. All workshops and teams of the enterprise can't open bank accounts, and the funds that need to be paid must be paid by the financial department. All enterprises and units should conduct a comprehensive clean-up of their accounts from time to time. (4) When handling fund business, one person is not allowed to handle the whole process of monetary fund business, and it is strictly forbidden to store seals and bills related to fund business in one place. The seal and blank bill should be managed separately, and the special financial seal and company seal should be managed separately.
2. Strictly implement budget management. Capital is the blood of every enterprise, and comprehensive budget management is a necessary means of capital management. The comprehensive budget of an enterprise includes financial budget, production budget, fixed assets investment budget, human resources budget and labor wage budget. All aspects of the budget are inseparable from fund management. All enterprises should establish the concept of refined management. The budget indicators, implementation process and information feedback of all funds should be detailed. At the same time, strengthen the management of budget expenditure quota. At present, some enterprises do not pay enough attention to budget quota management, which will lead to poor planning of fund management and increase the cost of funds. At the beginning of each year, enterprises should forecast the capital demand for the whole year. Each enterprise, in combination with the actual situation, determines the best amount of funds and prepares the annual capital budget. On the basis of the annual capital budget, according to the production and operation progress of the unit and the adjustment of relevant budgets and plans, the monthly rolling budget is compiled. When it is really necessary for each department to increase capital investment in the course of operation, it shall apply for supplementary budget.
3. Establish and improve the internal control system. According to the provisions and requirements of relevant national laws and regulations, establish and improve the internal control system of monetary funds, standardize accounting behavior, improve the internal control system of monetary funds, and establish and improve the supervision mechanism. The main person in charge of the unit takes overall responsibility for the effectiveness of the internal accounting control of the unit, and defines the management authority of management departments and functional departments at all levels in economic activities such as budget arrangement, plan management, fixed assets, foreign investment, project bidding, etc. , a strict and feasible examination and approval system has been formulated, and the authority, methods, procedures, responsibilities and related internal control systems for examination and approval have been clarified. Enterprises should implement the system of collective decision-making approval or joint signing for major business and matters, and no individual may make decisions alone or change the collective decision without authorization.
In fund-raising activities, the financial department should put forward a fund-raising plan according to factors such as business strategy, budget and capital status. Organize relevant experts to conduct feasibility study and demonstration, and determine the scheme after examination and approval. To establish and improve the foreign investment management system, all foreign investment projects must be investigated and demonstrated first, and then collectively decided.
Enterprises should choose investment projects according to their development strategy and economic environment in their foreign investment activities. After the project application is approved, the investment unit shall organize relevant department personnel or entrust an intermediary agency with corresponding qualifications to conduct a scientific, in-depth and meticulous feasibility study to ensure a reasonable return on foreign investment.
Enterprises should strengthen the process management of capital operation, coordinate the capital demand of internal institutions, balance the funds of procurement, production and sales, and improve the efficiency of capital operation in an all-round way. It is necessary to strictly follow the budget requirements, organize and coordinate the allocation of funds, ensure the timely receipt and payment of funds, and realize the rational occupation of funds and the virtuous circle operation. Hold regular fund dispatching meetings or fund safety inspections to comprehensively analyze the implementation of the fund budget. Once an abnormal situation is found, measures should be taken in time to deal with it properly, and redundant funds or broken capital chains must be avoided.
In short, monetary funds play a decisive role in the smooth operation of enterprises. If an enterprise has no funds or is short of funds, even the best plans and projects are dead letters and meaningless. By analyzing the related problems in enterprise fund management and the corresponding measures taken in this paper, we can see that effective fund management can optimize the fund structure, broaden financing channels, revitalize deposited funds, improve the efficiency of fund use and make enterprises develop in a better direction.
References:
[1] Xue Yingtao. On how to strengthen enterprise fund management and control [J]. Modern Economic Information, 2009, (2 1)
[2] Fan Xiaorong. Theoretical thinking on strengthening enterprise liquidity management. Friends of Accounting (middle), No.6, 20 1 1.
[3] Yin Mingxun. On how to strengthen capital budget management. Railway accounting, No.201112.
Recommendation of papers on enterprise fund management;
1. Strengthen enterprise fund management
2. Enterprise fund management documents
3. Enterprise cash management papers
4. Talking about the paper on enterprise capital cost management
5. Paper on cash management
6. Talking about the paper on enterprise cash flow management