[Executive Summary]
This survey takes Yangzhou Gaotian Tourism Products Co., Ltd. (hereinafter referred to as Gaotian Company) as the research object, and through the investigation, analysis and research of its relevant data, reveals some problems existing in the cash management of Yangzhou Gaotian Tourism Products Co., Ltd., and puts forward some suggestions to solve these problems.
[Keywords:]
Current assets cash
The cash referred to in this article refers to the RMB cash in stock of the enterprise. It is the most liquid asset of an enterprise, which plays an important role in maintaining the normal production, operation and management of the enterprise. However, cash is also the most easily lost asset in the enterprise assets, so strengthening cash management is of great significance to both the enterprise and the country. From March 5, 20 1 1 year to March 28, 201year, I made an investigation on the cash management of Yangzhou Gaotian Tourism Products Co., Ltd., trying to find out the existing problems through analysis, think about solutions and put forward suggestions to improve the cash management of enterprises.
Brief introduction of Yangzhou Gaotian Tourism Products Co., Ltd.
Yangzhou Gaotian Tourism Products Co., Ltd. was established in 1976. It is composed of five professional shoe-making enterprises with more than 800 employees/kloc-0, with an annual output of 3 million pairs of shoes. Mainly produces hiking shoes, waterproof shoes, snow boots, safety shoes, leather boots, PVC injection shoes, PU injection shoes, all rubber shoes and so on. The company has independent product design and development capabilities, and has many years of skilled technology and experience in producing oil-resistant, antistatic, insulating, smashing-proof, puncture-proof, fire-resistant and flame-retardant safety shoes. Products are mainly sold to Europe, the United States, Canada, Japan and the domestic market. The existing brand "Double Tian Li" series of safety shoes, sports shoes and casual shoes sell well in large and medium-sized cities all over the country and are favored and loved by many consumers. The company has international leading and all kinds of advanced shoemaking equipment, including 55 cold bonding molding lines, 2 PU injection molding machines, 1 PVC disc injection molding machines and 2 rubber overshoes production lines. In order to improve product quality and production efficiency, the company introduced the world's most advanced 24-station rubber dual-density continuous injection machine from DESMA Company in Germany in early 2007 to produce high-quality, high-standard leather boots and military boots. The company took the lead in passing the ISO900 1 international quality management system certification in the same industry. All kinds of safety shoes produced by the company have passed the Canadian CSA and European CE certification, and the safety shoes exported to Japan have reached the JIS S standard. Won the titles of "Top 100 Enterprises with Economic Integrity in Yangzhou" and "Three Excellent Enterprises with Quality Service and Integrity in Yangzhou".
Two. Introduction of Enterprise Cash Management in Gaotian Company
(A) Problems in cash management in the initial stage of enterprise operation
1. Because Gaotian Company is a family business, its ownership and management rights are highly unified, and its investors are also operators. There is no sound financial management system in the early stage of enterprise operation, and the wives of the chairman and general manager are in charge of cashiers, not specialized accounting professionals, so it often happens that enterprise funds are occupied by individuals privately. When taking inventory at the end of the month, there is often a cash inventory deficit. The phenomenon that funds are misappropriated by family managers, privately divided or embezzled by corporate cashiers is more serious.
2. Cash management is not strict, cash is used at will, cash transactions are frequent, daily transfer settlement and cash payment are rarely handled through banks, and there is less contact with the bank where the account is opened, and the daily settlement is not achieved.
3. The phenomenon of sitting in cash is serious, and cash is withdrawn beyond the limit and scope. For the sales money recovered in the form of cash, the sales staff or account collectors of the enterprise do not give it to the cashier first, but they are always at their own disposal, and the overall financial management is very chaotic.
4. There is no maximum amount of cash on hand. The cash limit on hand stipulated in the Provisional Regulations on Cash Management is a mere formality. Business managers think it is more convenient and faster to do business with more cash in hand. Because of frequent business, they don't want to keep all their cash in the bank, even if it has exceeded the limit.
5. Multi-head account opening, with more than one bank.
6. The phenomenon of white bars topping the warehouse is serious.
7. In order to avoid tax, there are off-balance-sheet accounts.
(B) cash management status of enterprises
In the early stage of enterprise development, due to the unreasonable and unscientific cash management, the cash book of the enterprise can't reflect its true face, and the cash flow statement can't truly reflect the cash flow of the enterprise, which not only makes the financial department of the enterprise unable to play its due role, but also restricts the development of the enterprise and even causes great losses. At present, the boss of the family business has gradually realized all kinds of disadvantages, and established an existing professional financial management team, in which professional accountants are responsible for the financial operation of the enterprise and hire people with certain experience and professional skills as the financial director of the enterprise. Great changes have taken place in cash flow management of enterprises. Details are as follows:
1. The ownership and management rights of enterprises have been dispersed to a certain extent. At present, the external financial director of the enterprise is also the general manager, so the financial power of the enterprise is no longer completely controlled by the owner, and a certain financial system is adhered to.
2. The cash management process is more reasonable.
3. Strengthen the internal and external control of cash, and check it every day.
4. Use scientific cash accounting methods and related financial software.
5. The business that happened is recorded in the account in time, and it must be signed by the managers of relevant departments at all levels, which is to some extent.
In fact, the phenomenon of white bars topping the warehouse has been greatly reduced.
(C) the current cash management needs to be improved.
1. The phenomenon of enterprises sitting on cash is still very serious and needs to be reduced.
2. The management of accounts receivable is not perfect.
3. Internal cash management needs to be further improved.
Three. Suggestions on strengthening cash management in enterprises
(1) Further strengthen the internal control system and improve cash management.
The cashier shall settle the cash on hand of the enterprise every day, and the financial supervisor shall conduct spot checks and audits. For the overflow found, we must find out the reason and deal with it in time according to the regulations.
(2) Promoting bank cooperation and strengthening bank cash management.
Enterprises should stipulate the maximum amount of cash on hand, grasp the best cash holdings, and resolutely put an end to large cash withdrawals, frequent cash withdrawals, over-range, over-settlement starting points and other behaviors.
(3) Strengthen the management of inventory and accounts receivable and maintain a healthy cash flow.
Strengthen inventory management, compress expired inventory materials as much as possible, avoid capital stagnation, and ensure the optimal structure of inventory funds by scientific methods. Strengthen the management of accounts receivable, investigate and evaluate the credit of credit customers, regularly check accounts receivable, formulate perfect collection management methods, and strictly control the aging. Dormant account and bad debts should be properly accounted for after obtaining conclusive evidence.
(four) to further improve the professional and technical level and professional ethics of enterprise accountants.
(V) Improve the cash management system and enhance operability.
To strengthen enterprise cash management, in addition to adopting and implementing relevant measures within enterprises, the government should also formulate and promulgate unified laws and regulations specially applicable to Chinese enterprises as soon as possible, strictly implement the legal responsibilities corresponding to false and illegal accounting information of enterprise legal persons, and reduce the randomness of accounting behavior.
(six) the correct and full use of cash budget statement and cash flow statement.
The purpose of making a good cash budget is to estimate inventory and accounts receivable more flexibly, better assist the financial needs of various departments and branches of enterprises, and at the same time fully grasp the procurement opportunities, repay loans in time and enjoy cash discounts. Using the cash flow statement to analyze the ratio can better reflect the cash flow of the enterprise in the past period, so as to better manage and make decisions.
Fourth, summary and experience
In this field investigation, we not only realized the gap between theory and practice, but also got a deeper understanding of corporate cash management, and also got some meaningful information from the corporate financial director of Gaotian Company.
Advice, he pointed out: "As a student of finance, personal cultivation and professional ethics are very important. If the professional quality is not high, it can be cultivated slowly, but if it is not cultivated enough, it is absolutely impossible. Once you choose a major in finance, you should be clear about your life orientation and stick to the working principles. After you work, you have to deal with money every day. Once you are tempted by money, it is easy to deviate from the balance of professional ethics. If you can't stick to your principles, you are likely to ruin your career for a little profit. In addition, what the average entrepreneur wants is the management effect, but for our financial managers, we should pay attention to the process and consider whether there are unreasonable and unnecessary processes, which require us to think. " After listening to the CFO's words, we remembered what the teacher warned us in the first class. Indeed, the theoretical knowledge learned in books may be different from that in practice, but the quality and accomplishment that a financial accountant should have are always the same. After we asked the question, the chief financial officer of the company also asked us a question: the accounting treatment of the surplus and loss of fixed assets of enterprises. Our answer is half right and half wrong. Through the patient guidance of CFO, we realize that our grasp of knowledge is broken, and the basic professional knowledge should be firmly laid. The knowledge structure determines how deep we know and how deep we do. This survey has benefited us a lot.
This report only makes a brief analysis of the cash on hand of this enterprise, and I believe it will inspire the development of this enterprise. Due to the limitation of knowledge, this survey is inevitably biased, but through the survey, I have a deeper understanding of cash management. Thanks to Yangzhou Gaotian Tourism Products Co., Ltd. for its support and help to this survey, and also thanks to my tutor for guiding my report.
Chapter Two: Investigation Report on Cash Management of Dragon Family Business
I. Purpose of the investigation
Go to the enterprise to inspect its cash management, find out its existing problems and solutions, analyze its rationality and irrationality, and put forward opinions and suggestions on improving its cash management.
Second, the survey method: field trip.
Three. Investigation time: the afternoon of September 28th, xx.
Four. Brief introduction of dragon family of interviewed enterprises
Fujian Long family business, founded in 1998, is headquartered in Jinnan Development Zone, longhu town, Jinjiang City, Fujian Province, a famous hometown of overseas Chinese and a famous textile town. Covering an area of 100 mu, the building area is over 80,000 square meters, the registered capital is 654.38+0.2 billion yuan, and the fixed assets are 300 million yuan. It has modern standard factory buildings and advanced production equipment at home and abroad, and employs more than 800 people. It is a modern industrial and trade enterprise group integrating the research and development, production, sales, trade, chemical industry, real estate, clothing, guarantee, pawn and other products of high-grade fabrics. Sales network all over the country, products are exported to Europe, America, Southeast Asia, Hong Kong, Macao and Taiwan and other countries and regions. The company advocates the enterprise spirit of "honesty, harmony, innovation and success", adheres to the management concept of "people-oriented, pursuit of Excellence", constantly optimizes the enterprise management mechanism, adheres to the corporate culture concept of "shaping products with personality and enhancing personality with products", builds first-class brands with first-class talents, first-class technology, first-class equipment and first-class management, respects fashion classics and leads the trend. The company has passed the ISO 900114001Quality and Environmental Management System Certification, and won the honor of "National Advanced Enterprise in Quality and Integrity Management", "China Top Enterprise in Economic Integrity 100", "China Short-listed Enterprise in Popular Fabrics", "National Special Finishing Fabric Development Base" and "Regional Economy".
Verb (abbreviation of verb) Brief introduction of cash management in dragon enterprises
(A) Problems in cash management in the initial stage of enterprise operation
1. Because the Dragon is a family business, the ownership and management rights are highly unified, and the investors of the enterprise are also operators. There is no sound financial management system in the early stage of enterprise operation, and the wives of the chairman and general manager are in charge of cashiers, not specialized accounting professionals, so it often happens that the cash of enterprises is occupied by individuals privately. In the month-end inventory, cash shortage often occurs. The phenomenon that funds are misappropriated by family managers, privately divided or embezzled by corporate cashiers is more serious.
2. Cash management is lax, cash is used at will, cash transactions are frequent, daily transfer settlement and cash payment are rarely handled through banks, and there is less contact with the bank where the account is opened, and the daily settlement is not achieved.
3. The phenomenon of sitting in cash is more serious, and cash is withdrawn beyond the limit and scope. For the sales money recovered in the form of cash, the sales staff or account collectors of the enterprise do not hand it over to the cashier first, but hand it over to themselves at any time, and the overall financial management is very chaotic.
4. There is no maximum amount of cash on hand. The cash limit on hand stipulated in the Provisional Regulations on Cash Management is a mere formality. Business managers think it is more convenient and faster to do business with more cash in hand. Because of frequent business trips, they don't want to deposit all the extra cash in the bank even if they have it.
5. Multi-head account opening, with more than one bank.
6. The phenomenon of white bars topping the warehouse is serious.
7. In order to avoid tax, there are off-balance-sheet accounts.
(B) cash management status of enterprises
In the early days of this enterprise, due to the unreasonable and unscientific cash management, the cash account book of the enterprise could not reflect its true face, and the cash flow statement failed to truly reflect the cash flow of the enterprise, which not only prevented the financial department of the enterprise from playing its due role, but also restricted the development of the enterprise and even caused huge losses. The boss of the family business gradually realized all kinds of disadvantages and re-established the existing professional financial management team, with professional accountants in charge of the financial operation of the enterprise. Hiring someone with certain experience and professional skills as the chief financial officer of an enterprise has greatly changed the cash flow management of the enterprise. Details are as follows:
1, the ownership and management rights of the enterprise have been dispersed to a certain extent, and now the external financial director of the enterprise is also the general manager, so the financial power of the enterprise is no longer completely controlled by the owner, and a certain financial system is adhered to.
2. The cash management process is more reasonable.
3. Strengthen the internal and external control of cash, and check it every day.
4. Use scientific cash accounting methods and related financial software.
5. The business should be recorded in the account in time, and signed by the managers of relevant departments at all levels, which greatly reduces the phenomenon of white bars topping the warehouse to a certain extent.
(C) the current cash management needs to be improved.
1, the phenomenon of enterprises sitting on cash is quite serious and needs to be reduced.
2. The management of accounts receivable is not perfect.
3. Internal cash management needs to be further improved.
Suggestions on strengthening cash management of enterprises with intransitive verbs
(1) Further strengthen the internal control system and improve cash management.
The cashier shall settle the cash on hand of the enterprise every day, and the financial supervisor shall conduct spot checks and audits. For the overflow found, we must find out the reason and deal with it in time according to the regulations.
(2) Promote cooperation between banks and enterprises and strengthen cash management in banks.
Enterprises should set the maximum amount of cash on hand, grasp the best amount of cash held, and resolutely put an end to large cash withdrawals, frequent cash withdrawals and cash withdrawals beyond the scope and settlement starting point.
(3) Strengthen the management of inventory and accounts receivable and maintain a healthy cash flow.
Strengthen inventory management, compress expired inventory materials as much as possible, avoid capital stagnation, and ensure the optimal structure of inventory funds by scientific methods. Strengthen the management of accounts receivable, investigate and evaluate the credit of credit customers, regularly check accounts receivable, formulate perfect collection management methods, and strictly control the aging. Dormant accounts and bad debts should be properly handled after obtaining conclusive evidence.
(four) to further improve the professional and technical level and professional ethics of enterprise accountants.
(V) Improve the cash management system and enhance operability.
To strengthen enterprise cash management, besides adopting and implementing relevant measures within enterprises, the government should also formulate and promulgate laws and regulations specially suitable for enterprises in China and unify accounting behavior as soon as possible, strictly implement the legal liabilities corresponding to false and illegal accounting information of enterprise legal persons, and reduce the randomness of accounting behavior.
(six) the correct and full use of cash budget statement and cash flow statement.
The purpose of making a good cash budget is to make a more flexible forecast of inventory and accounts receivable and better assist the financial needs of various departments and branches of enterprises. At the same time, there is also foot bath to seize the procurement opportunity and enjoy cash discount in time. Using the cash flow statement to analyze the ratio can better reflect the cash flow of the enterprise in the past period, so as to better manage and make decisions.
VII. Summary and experience
In this field investigation, we not only realized the gap between theory and practice, but also got a better understanding of cash management in enterprises. In addition, we also got some meaningful suggestions from the financial director of Longzhi Enterprise. He pointed out: "As a financial student, personal cultivation and professional ethics are very important, and the professional quality is not high. You can cultivate them slowly, but it is absolutely impossible to cultivate them insufficiently. Once you choose a major in finance, you should be clear about your life orientation and stick to the working principles. After you work, you have to deal with money every day. If you are tempted by money, you will easily deviate from the balance of professional ethics. If you can't stick to your principles, you are likely to ruin your career for a little profit.
Career. In addition, what entrepreneurs generally want is management effect, but for our financial managers, we should pay attention to the process and consider whether there are unreasonable and unnecessary processes, which require us to think. "Listening to the CFO reminds us of what the teacher warned us in the first class. Indeed, the theoretical knowledge learned in books may be different from that in practice, but the quality and accomplishment that a financial accountant should have are always the same. After we asked the question, the chief financial officer of the company also asked us a question: the accounting treatment of the surplus and loss of fixed assets of enterprises. Our answer is half right and half wrong. Through the patient guidance of CFO, we realize that our grasp of knowledge is broken, and the basic professional knowledge should be firmly laid. The knowledge structure determines how deep we know and how deep we do. This survey has benefited us a lot.
Chapter III: Research Report on Monetary Fund Management
Introduction: (1) Improve the internal control system of monetary funds, mainly including:
(1) job division control
(2) Control of monetary fund income
(3) Commodities, most illegal acts such as corruption, fraud and misappropriation of public funds are related to monetary funds. It is necessary to strengthen the management and control of monetary funds of enterprises, establish and improve the internal control of monetary funds, and ensure the legality and effectiveness of business management activities. The Finance Department establishes a strict system of authorization and approval for monetary fund business, defines the approval method, authority, procedures, responsibilities and related control measures of the approver, and stipulates that the handling of goods by the handler is related to the safety of enterprise property.
Put forward the corresponding countermeasures:
(1) Improve the internal control system of monetary funds, which mainly includes:
(1) job division control
(2) Control of monetary fund income
(3) control the expenditure of monetary funds
(4) Custody control of monetary funds
Monetary fund is the asset with the strongest liquidity and the highest risk control, and it is the foundation for the survival and development of enterprises. Most illegal acts such as corruption, fraud and misappropriation of public funds are related to monetary funds. Therefore, it is necessary to strengthen the management and control of enterprise monetary funds, establish and improve the internal control of monetary funds, and ensure the legality and effectiveness of enterprise management activities. The Finance Department shall establish a strict system of authorization and approval for monetary fund business, define the approval method, authority, procedures, responsibilities and related control measures of the approver of monetary fund business, and stipulate the responsibilities and work requirements of the manager in handling monetary fund business. The approver shall conduct the examination and approval within the scope of authorization according to the provisions of the Monetary Fund Authorization Examination and Approval System. Shall not exceed the examination and approval authority, the agency shall handle the monetary fund business within the scope of its duties and in accordance with the examination and approval opinions of the approver. For the monetary fund business approved by the approver beyond the scope of authorization, the handling personnel have the right to refuse to handle it and report it to the superior authorized department of the approver in time.
(2) Strengthening accounting auditing and supervision.
Establish a monetary fund supervision mechanism, clarify the duties and powers of prosecutors, conduct regular and irregular inspections, and pay close attention to the implementation of various systems. First of all, we should improve the prevention, that is, establish a scientific financial control system and clear rules and regulations, reduce the precipitation of funds, reduce financial expenses, and improve the income level of idle funds. The second is timely and effective control, that is, to ensure the safety of funds, prevent fraud and misappropriation, ensure the integrity of funds, ensure that all funds received by enterprises are accounted for, and put an end to "small treasury".
(C) through online banking to reduce the company's transaction costs
Online banking can bring convenience to companies, reduce transaction costs, and be conducive to the safety of monetary funds. First, online banking settlement is adopted to reduce transaction costs. Because different banks have different standards for opening accounts and charging online banking, the annual fee is a relatively fixed fee. Therefore, the company should decide whether to open and which online banks to open according to the previous annual business volume, different settlement situations in different places, and the preferential terms of banks for opening online banks, and make overall planning on the basis of forecasting the business volume of that year to minimize the settlement cost. For example, some banks' personal online banking does not charge fees for peer transfer in different places. When employees are resident in other places, they can entrust other employees to borrow money, first transfer the money to the account of the entrusted employee, and then transfer it to the account of the borrower's foreign bank (bank).
The second is to use the automatic collection system to reduce the management cost of monetary funds. Banks in China have set up automatic collection function for group companies. According to the time and amount of payment information specified by the customer in advance, the bank regularly transfers the information from the branch account of the company to the headquarters account, and sends the transaction result information to the e-mail box reserved by the customer on the same day. At the same time, customers can also check the transaction results through the VIP room. Automatic collection not only realizes all the functions of ICBC's counter "online settlement" business, but also supports the nationwide collection of funds by region, province, region and country. Customers only need to make requirements such as collection path, time period and amount when the business is opened. Banks will automatically collect the funds of their branches on the host computer regularly without manual intervention, which reduces the labor cost and the management cost of the company's funds.
(D) the implementation of unified financial management
It is necessary to strictly implement the management regulation that a unit can only set up one financial institution, manage all the account books of the unit in a unified way, and bring all the income and expenditure into the financial general ledger management of the unit. The bank account of this unit shall be opened in accordance with the prescribed examination and approval procedures, and off-balance-sheet account opening is strictly prohibited. Timely, accurately and comprehensively report the major economic activities of the unit, feed back the economic information of the unit, establish risk awareness, and prevent the problem of monetary funds being squeezed, misappropriated and stolen from the source; Prevent and control possible financial risks and operational risks from the system.