Abstract: With the acceleration of economic globalization, enterprises are facing a more complicated external environment and are undergoing various risks. Enterprises need to establish a sound financial risk prevention and control system internally by raising awareness, strengthening leadership, strengthening daily management, and doing a good job in risk early warning and emergency treatment. To ensure the safety of enterprise capital chain and cash circulation, so as to cope with the crisis and promote the stable and healthy development of enterprises.
Keywords: financial risk; Early warning and prevention; Emergency treatment
The global financial crisis and domestic periodic structural adjustment make enterprises face more severe economic situation and unprecedented challenges. Facing the unprecedented complex economic situation, it is the primary task of enterprises to prevent and resolve financial risks and ensure the safety of capital chain and smooth cash flow. However, due to the large number of member units, large industrial span, long industrial chain and many management levels, enterprise groups need to build a more perfect financial risk prevention and control system to effectively prevent and control financial risks.
According to the characteristics of enterprise groups, in practical work, enterprises can start from the following aspects to build a financial risk prevention and control system:
First, raise awareness of controlling financial risks.
With the acceleration of economic globalization, the business scope and scale of enterprises are gradually expanding, the competition is becoming more and more fierce, the risk factors are increasing, and the macroeconomic situation is becoming more and more changeable. It is more and more urgent to raise awareness and strengthen financial risk control of enterprises.
Through financial risk control, we can find the problems and defects existing in the internal control of enterprises, promote enterprises to improve various internal control systems, realize scientific decision-making and management, form a complete decision-making mechanism, an incentive mechanism and a good restraint mechanism, improve risk sensitivity, and timely analyze, accurately evaluate and effectively control the company's financial risks.
Through financial risk control, enterprises can establish the consciousness of cash first, correctly analyze and scientifically deal with the complex economic situation, optimize the capital structure and maintain the liquidity of capital. Through financial risk control, enterprises can increase revenue and reduce expenditure, reduce consumption and reduce the occupation of unproductive expenses such as accounts receivable and inventory funds, so as to ensure smooth cash flow and realize healthy and sustainable development of enterprises.
Through financial risk control, establish financial risk early warning mechanism, find financial risk symptoms in time, take risk treatment measures in time, avoid and recover losses caused by financial risks, and ensure the realization of business objectives and efficient and orderly operation of enterprises.
Two, strengthen the organization and leadership of financial risk control
Enterprises should set up a working group on financial risk control, which is responsible for organizing the prevention, early warning and disposal of enterprise financial risks. The financial risk control working group is led by the chief accountant or chief financial officer of the enterprise, and the responsible persons of all responsible departments participate. The financial risk control team should work according to the following four principles:
(1) Unified leadership and graded responsibility. The parent company of a group enterprise shall be fully responsible for the organization, coordination and leadership of financial risk control. Each affiliated company is responsible for the classification of financial risk control within its jurisdiction.
(2) Early warning and timely disposal. Financial risks should be discovered and reported early, and decisive measures should be taken to control and resolve them in time to prevent the spread and spread of risks.
(three) carry out their duties, unity and cooperation. According to the division of responsibilities, relevant departments of enterprises actively plan and implement various measures to prevent, resolve and dispose of financial risks, and coordinate with each other to prevent, resolve and dispose of risks.
(4) Combination of chemical defense. Strengthen financial risk monitoring, urge financial risk responsibility departments at all levels of enterprises to provide relevant information in a timely manner, and monitor in a timely and effective manner to improve their ability to cope with various unexpected risks.
Third, strengthen daily management and control financial risks.
(A) to strengthen cash management
Standardize the online application and approval process of capital budget, strengthen payment approval and centralized management of funds, ensure the safety of enterprise capital chain and realize benign operation.
(B) to strengthen the overall budget management
Adhere to the control of all business activities by budget management, expand the scope of budget control, improve the budget early warning mechanism, standardize budget adjustment behavior, improve budget management methods, strengthen budget process control, and all extrabudgetary funds are not allowed to be spent.
(3) Strengthen the professional management of the two funds.
Other users are not allowed to sell on credit except for normal long-term strategic users' rolling settlement. It is strictly forbidden to organize production to ensure the start of work, sell on credit to ensure sales, evaluate the credit quality of customers, establish credit files, and conduct classified management. Dynamically adjust the credit rating of customers. Under the unified coordination of the competent department of the enterprise, cooperate with the judicial organs for legal settlement, and take the initiative to take property preservation and enforcement. Do a good job in inventory management, analyze the inventory structure and distinguish between normal and abnormal reserves. Carry out the principle that the market determines production, so as to determine production by sales and avoid product backlog; Strictly investigate the responsibility of the person responsible for the defective product.
(D) Strictly control costs.
Fully implement cost quota management, actively use information technology to strengthen cost monitoring, take unit consumption management as a whole, and do a good job in cost control of main products.
Fourth, do a good job in financial risk control.
Financial risk early warning system is an important part of financial risk control, which determines the running quality of financial risk control system. Enterprises should give classified guidance, focus on monitoring and report to subordinate companies regularly. By analyzing the formation process of financial risks, combining qualitative early warning analysis with quantitative early warning analysis, an effective early warning mechanism to prevent financial risks is established, so as to achieve early detection, early start and early treatment.
(a) classified guidance, focus on monitoring, and report regularly.
According to the profit and loss and cash flow, group enterprises can divide their subsidiaries into four categories: general risk units, large risk units, major risk units and extra-large risk units to control financial risks.
Through the financial risk early warning system, enterprises focus on monitoring large, major and extra-large risk units. The financial risk of large-risk units shall be reported monthly, and the financial risk of major and extra-large-risk units shall be reported weekly.
(2) Collection and transmission of early warning information
Enterprises should take the information system as the platform for information collection and transmission, and grasp all kinds of information needed for financial risk early warning in time, and the sources of information should be made public. The early warning information system includes not only the collection of early warning data, but also the expert consultation system. By processing, analyzing, judging, preventing and processing the collected data, the potential financial risks of enterprises can be diagnosed and the financial crisis can be eliminated in time. Information such as data, measures and suggestions collected, processed, analyzed and sorted out shall be timely summarized and reported to the enterprise financial risk control team step by step. Matters that need enterprise approval should be reported for approval step by step.
(3) Establish a qualitative and quantitative early warning index system.
The qualitative indicators that should be adopted in the enterprise financial risk early warning system mainly include: the net cash flow generated by operating activities is negative, the main financial indicators show the deterioration of financial situation, and some quantitative early warning indicators are used to monitor financial risks. The main indicators of quantitative early warning include: limited quick ratio, multiple of earned interest, asset-liability ratio, etc. Each unit can appropriately increase a certain number of quantitative early warning indicators according to the actual situation of the unit to improve the quality of early warning.
Enterprises should subdivide and quantify the above indicators according to their own reality and referring to national industry standards, so as to meet the quality requirements of financial risk early warning and ensure the accuracy of financial risk early warning.
Early warning analysis
Early-warning analysts first quickly eliminate financial risks that have little impact through early-warning analysis, and focus on analyzing financial risks that may have a significant impact. Focus on analyzing the causes of financial risks and evaluating possible losses. According to the causes of financial risks, formulate targeted measures to deal with financial risks.