An analysis of the causes of the current shortage of funds in enterprises
(A) the external environmental factors of the enterprise.
1. The state's fiscal austerity policy has led to a shortage of funds for enterprises. On June 65438+July 0993, the state instructed banks to recover loans within a time limit, drawing away a large number of working capital of enterprises, resulting in a shortage of funds for many enterprises. The country's austerity policy is mainly aimed at overheating behaviors such as steel speculation, stock speculation and real estate speculation, but unfortunately, banks and other financial institutions are also involved. Once these speculations have no follow-up funds, it is difficult to recover their investment funds. However, the country's austerity policy is resolutely implemented. As a result, the working capital and working capital of enterprises are used to repay speculative loans to a certain extent, which leads to the shortage of production and operation funds of enterprises. Moreover, the practice of recovering loans within a time limit itself contradicts the continuity and proportionality of all aspects of enterprise production and operation.
2. The fluctuation of market supply and demand is too large, which wastes some funds. At present, the production, operation and investment activities of enterprises are mainly regulated by economic levers such as prices. If the price of products rises, enterprises will increase production; If the price of products falls, enterprises will reduce production. However, due to the frequent changes of product prices in the process of circulation and formation, the competition between supply and demand is fierce, and the fluctuation range of prices is often over-amplified, resulting in the ups and downs of product supply and demand, that is, on the one hand, product shortage and price increase, on the other hand, overproduction and unsalable products. For example, the price and supply and demand changes of steel and petroleum products in China during the two periods of 1993 and 1994 are exactly the same. When the product is in short supply, the enterprise feels short of funds because of expanding production, and when the product is unsalable, the enterprise feels short of funds because the payment cannot be collected. In this way, enterprises feel that the shortage of funds is long-term, but the lack of tension is temporary or short-term. Moreover, the information of product price and supply and demand is transmitted quickly, but it takes some time for enterprises to adjust product variety and production scale, which makes the funds of those enterprises that have not kept up with market changes precipitate or waste on product surplus, overcapacity or high-priced purchase of raw materials, thus reducing the effective liquidity among enterprises and aggravating the shortage of funds. Of course, enterprises can overcome the shortage of funds brought about by market changes by strengthening management and establishing an effective competition mechanism. For example, if enterprises set production by sales, the shortage of funds will be reduced. However, if an enterprise cannot pay, the payment ability of related enterprises will also be affected, resulting in mutual arrears between enterprises and tight funds.
In addition to the above two aspects, the external causes of the current enterprise capital shortage have also aggravated the enterprise capital shortage to a certain extent, such as tax reform, bank commercialization, exchange rate merger and so on.
(B) internal factors of the enterprise lead to a shortage of funds.
The financial situation of an enterprise is mainly determined by its economic behavior. The economic behavior of an enterprise is mainly influenced by its management mechanism, such as its market research and sales mechanism, its adaptability, its self-restraint and development mechanism, and its decision-making mechanism. From the perspective of enterprises, enterprises should establish effective mechanisms to adapt to changes in the external environment, overcome their own disadvantages and develop their own advantages. The poor management mechanism of enterprises can not adapt to market changes, which is the main reason why enterprises are in short supply of funds.
In the management mechanism of enterprises, the most important is the fund management mechanism of enterprises. Because all kinds of economic activities of enterprises are ultimately realized through the flow of funds. Through the flow of funds, enterprises can timely and effectively supervise and control the production and business activities of enterprises. Therefore, the establishment of an effective enterprise fund monitoring mechanism is the key to ensure the smooth progress of enterprise production and operation activities and no shortage of funds.
However, after the implementation of the new accounting system, the effective management mechanism of enterprise funds has not been formed. The new system cancels the management principles of earmarking, subsection management and moderate balance. On the one hand, it enables enterprises to use a large amount of funds at one time, on the other hand, it increases the possibility of enterprises getting into trouble because of decision-making mistakes or business failures. After an enterprise has the autonomy in the use of funds, it can use short-term funds for long-term investment, and use depreciation and technological transformation funds to expand its business scale. This has indeed improved the ability of enterprises to adapt to market changes and intensified the adjustment of production and business activities, but the opportunities for enterprises to be short of funds due to business decision-making mistakes have also increased. This requires enterprises to improve the management level and skills of funds accordingly. But in fact, after the implementation of the new accounting system, most enterprises have relaxed their fund management, especially the fund balance management. In this way, only when the enterprise has difficulty in payment and is short of funds can the original enterprise's decision-making mistakes and improper use of funds be clarified, but at this time the enterprise has fallen into a dilemma. From the enterprise's point of view, the current situation of triangular debt and fund shortage is mainly caused by the failure to establish a new effective fund monitoring mechanism after canceling the past fund balance analysis method.