1 Select the appropriate financial management mode
Group companies generally adopt four modes of financial management of subsidiaries: centralization, decentralization, appointment of accounting supervisor and high degree of autonomy. Centralized financial management mode is that financial decision-making power and accounting personnel management power are concentrated in group companies. Its advantage is "everything is under control", but its disadvantage is that it can't give full play to the initiative and enthusiasm of accountants to participate in the company's operation, which weakens the functional role of financial accounting, especially management accounting; Decentralized financial management mode is that subsidiaries have more financial decision-making power and accounting personnel management power. Its advantage is that it helps to give full play to the enthusiasm of accounting personnel of subsidiaries to make suggestions and suggestions for enterprise management by using financial accounting functions, but its disadvantage is that financial accounting information is greatly influenced by the leaders of their subordinate units and is easy to produce false information; The financial management mode of accountant supervisor appointment system is that the group company sends the financial supervisor to the subsidiary company, and the personnel relationship is in the group company. Its advantage is that it can control the whole process of financial accounting work of subsidiaries, and better solve the disadvantages of decentralized management and centralized management; The "highly autonomous" financial management mode is that the leaders of subsidiaries have great financial decision-making power and accounting management personnel power. Its advantage is that the development of subsidiaries is highly consistent with the interests of financial accounting, which can give full play to the functions of financial management. The disadvantage is that if the quality of financial decision-makers is not high, it will easily lead to low decision-making efficiency and even mistakes. These financial management models have their own advantages and disadvantages, and they can seek advantages and avoid disadvantages. According to the specific situation of different subsidiaries, different financial management models are adopted to achieve the effect of integrating resources and obtaining greater profits.
2. Establish the corresponding system
2. 1 Implement authorization approval management system.
Authorized examination and approval management system means that before a financial activity occurs, personnel at all levels must obtain approval and authorization. The investment and loan projects of subsidiaries below the authorized amount can be decided by themselves, and the investment and loan projects above the authorized amount must be reported to the relevant departments of the Head Office for approval. At the same time, the group company should establish and improve the establishment, examination and approval, control and inspection system of subsidiaries' foreign investment and loans, attach importance to the tracking management of investment and loan projects, and standardize the investment and loan behavior of subsidiaries. Through authorization control, we can supervise the standard operation of daily financial activities of subsidiaries, thus ensuring the orderly operation of enterprise groups.
2.2 the establishment of financial budget reporting system
The financial budget reporting system is a tool for coordination, control standards and assessment between group companies and subsidiaries, a tool for standardizing and scientifically managing the financial affairs of subsidiaries, and an effective way to promote the self-discipline and self-development of subsidiaries. In budget management, predict and control the future situation of investment activities, business activities and financial activities related to subsidiaries. Group companies can implement the comprehensive budget law, set the operating objectives of subsidiaries and establish a performance appraisal system.
3. Strengthen monitoring and strict assessment.
3. 1 Appointment of CFO and CFO
Judging from the operation effect of the group company, it is an effective way to strengthen the financial management of the subsidiary by appointing the chief financial officer to the subsidiary. Appointed candidates can be openly recruited to the public, and their personnel relations are centrally managed by the head office, and wages and benefits are uniformly distributed by the group company. While being responsible for the daily financial work and establishing a sound financial control and supervision system, the chief financial officer should also proceed from the overall management policies and guidelines of the group company, assist the subsidiary operators to make all major financial decisions and control their behaviors. Appointing a financial supervisor can not only enable the overall management policy of the group company to be implemented and implemented in the subsidiaries, but also ensure the truthfulness, objectivity and accuracy of the financial accounting information of the subsidiaries and earnestly safeguard the interests of the group company.
3.2 Establish and improve the evaluation index system.
Establish an evaluation system for the implementation of various financial indicators, so that the assessment and supervision system will be continuously improved and scientific. When a subsidiary company operates after receiving the capital invested by the head office and investors, it should not only ensure the safety and integrity of the capital invested by investors, but also preserve and increase its value. In order to encourage subsidiaries to operate independently, the head office should establish an effective assessment method to encourage subsidiaries to strive to achieve business objectives. In order to ensure that the subsidiaries will bring stable income to the group company in the future, and at the same time, it is convenient for the management department of the group company to objectively evaluate the financial status, operating results and future prospects of the subsidiaries. The group company can determine the reasonable return on investment of the subsidiary and check the profit index of the subsidiary in combination with the actual situation of the subsidiary and the performance it can achieve during a certain operating period, so as to promote the maintenance and appreciation of the subsidiary. In addition, a comprehensive financial index evaluation system should be established. It mainly includes financial indicators such as enterprise liquidity ratio, asset management ratio, debt ratio and profitability ratio, and some quantitative indicators and qualitative analysis auxiliary indicators can also be added according to the actual situation of enterprises.
3.3 Strengthen regular and irregular audits.
Audit plays an irreplaceable role in the corporate governance structure of group companies. Considering the standardization of the operation of subsidiaries and the authenticity and reliability of financial data, group companies must also conduct regular and irregular financial revenue and expenditure audits of subsidiaries. The audit of subsidiaries includes external audit and internal audit. At present, the audit of the annual statements of subsidiaries by accounting firms belongs to external audit. The internal audit of the group company is mainly implemented by the internal audit department of the group company. The role of the internal audit department is not only to supervise the financial work of subsidiaries, but also to check and evaluate whether the internal control system is perfect and the efficiency of various organizations in the enterprise to perform designated functions, and it is also the main force to supervise and control other internal links. Internal audit can focus on whether subsidiaries correctly calculate costs according to the cost range of industrial enterprises, whether to raise or lower costs, and artificially adjust profit levels; There are no major investment and financing activities, and there are no long-term irrecoverable creditor's rights; Whether there are violations and guarantees for others. Through the audit of the internal audit department, the problems existing in the financial and production operations of subsidiaries are found in time and management suggestions are put forward, and the problems found in the audit, such as fraud, violation of the company's financial system and financial discipline, are resolutely punished. According to the results of internal audit and CPA audit, the group company confirms the operating performance of each unit and operator, evaluates the degree of maintaining and increasing the value of state-owned assets, and performs relevant reward and punishment measures.