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The role of corporate financial management

The role of enterprise financial management

Financial management refers to the general term for a series of tasks in which an enterprise reasonably and effectively organizes, controls and supervises the movement of funds and correctly handles financial relationships. Financial management is an important part of enterprise management and plays a central role in enterprise management. Below is the role of financial management that I have collected for you. I hope it will be helpful to you.

1. Several specific forms of corporate financial management

Financial management conceptually dominates all professional management. With financial management as the center, it is first reflected in the concept of commanding all professional management. Including plan management, asset management, production management, sales revenue management, etc., financial concepts should be established, that is, benefit concept, cost concept and capital concept.

1. Plan management. When an enterprise formulates a plan, it is necessary to establish a concept of funds and benefits. If financial constraints are not taken into consideration and benefit analysis is not conducted, the plan will be abandoned halfway and resources will be wasted. If the plan is only centered on output and does not pay attention to economic benefits, it will cause a backlog of products and precipitation of funds.

2. Asset management. Asset management includes current asset management, fixed asset management and intangible assets and deferred asset management. In asset management, we must get rid of the concept of only focusing on meeting needs and not on procurement costs and capital occupation. It is necessary to establish the concept of low prices and low reserves, so that the reserved materials can not only meet the needs of production, but also save the occupied funds; we must do a good job in the management of fixed assets to avoid idleness and loss of assets, and at the same time revitalize idle assets to maintain and increase their value. , bring benefits to the enterprise; we must pay attention to the intangible assets of the enterprise. The image and reputation of the enterprise are important guarantees for bringing benefits to the enterprise; we must establish a strong economic awareness to make the assets of the enterprise come alive and flow.

3. Production management. Including product development, production organization, quality management and equipment management, etc. These departments are prone to emphasize technology over efficiency, and should establish a financial concept: product development must be marketable, and process arrangements and raw material ratios must not only focus on quality but not cost; process coordination must not focus only on speed and not on semi-finished products. Capital occupation; in quality management, quality income must be greater than quality cost.

4. Sales revenue management. Sales are the realization of business results, the compensation for production consumption, and the end of capital turnover. Sales revenue management is an important part of financial management. Under the conditions of the planned economy, the product was "The Emperor's Daughter Will Not Worry About Marrying". After entering the market economy, the sales of products encountered difficulties. Therefore, the sales work only focused on shipping the products without considering the product cost, selling price and payment recovery. , the result is that the product is sold, but the company's funds are difficult to circulate, and the benefits are not really realized. Therefore, in sales work, sales and collection must be combined to establish a concept of efficiency.

2. Some suggestions for improving corporate financial management

Financial management has become more and more prominent in today's increasingly developing economy. The status of financial management is becoming more and more important. Establishing and improving financial management Various norms and systems have become the top priority at this stage.

1. Strengthen the construction of the accounting team and comprehensively improve the quality of accounting personnel. To strengthen the construction of the accounting team and comprehensively improve the quality of accounting personnel, we should start from the following three aspects: first, improve the qualification system for accounting personnel, and strictly determine what conditions are met to be qualified to engage in accounting work, and what conditions are met to serve as the chief accountant; second, To improve the professional qualification confirmation system, on the basis of adhering to the current professional qualification (evaluation) system, the entry requirements for qualification examinations should be accordingly improved and the role of academic factors should be emphasized; thirdly, the continuing education system for accountants should be strengthened and the lifelong development of accountants should be promoted Educational concepts can effectively help them improve their quality, accumulate experience, and constantly update business knowledge in the market economy environment. Accountants must also strengthen the combination of theory and practice, be familiar with production and operation knowledge as well as business management knowledge in law, finance, insurance, securities, futures, forecasting, decision-making, etc., and create a team that can calculate, analyze, demonstrate, and evaluate. financial management team.

2. Be a good consultant and control the company’s investment decisions. Decision-making is one of the most important tasks in corporate management, and investment decisions are the most critical and important of all corporate decisions. Mistakes in investment decisions are the biggest mistakes of enterprises. An important mistake in investment decisions often puts a company into trouble or even bankruptcy. Therefore, an extremely important function of financial management is to serve as a good consultant for the enterprise and control investment decisions.

3. Give full play to the role of financial accounting supervision to ensure the maintenance and appreciation of state-owned assets. Accounting supervision refers to the continuous, systematic, comprehensive monitoring and regular inspection of accounting and management work to facilitate timely discovery and correction of possible deviations and errors in accounting work, to investigate and deal with possible fraud and fraud in accordance with the law, and to ensure that accounting information is and management work run healthily, orderly and efficiently. Accounting supervision is one of the basic functions of accounting and an important part of my country's socialist economic supervision system.

4. Strictly implement and strengthen the implementation of internal management systems.

Strengthening the construction of the internal accounting management system is an important measure to improve the accounting management system. It can effectively maintain the integrity and coordination of the accounting management system and ensure the effectiveness of the accounting management system. It is an important step in improving enterprise management and economic efficiency. Important strategies. Good management is based on a rigorous and scientific system. As the financial department that comprehensively reflects and supervises various economic businesses, it must develop a rigorous internal financial management system, including the corporate financial management system, basic work, funds Raising, various asset management, cost and expense management, income and profit distribution management, foreign currency management, etc. Standardize the accounting behavior of enterprises and increase the authenticity and comparability of accounting materials. The system must be implemented with a rigorous attitude and strict measures. Practice has proved that the key to whether a system is effective lies in the rigor, completeness and operability of the system's provisions, as well as the determination and thoroughness in implementing the system.

5. Manage funds well to ensure the circulation and safety of corporate funds. At present, the core of financial management is fund management. Many enterprises have three problems in fund management: first, funds cannot make ends meet and there is a funding gap; second, funds are misappropriated and squeezed; third, the problem of "triangular debt". How to solve these three problems is a top priority in corporate financial management. First, it is necessary to increase revenue and reduce expenditure; second, it is necessary to adjust the surplus and shortage of funds through short-term fundraising and investment; third, it is necessary to track and manage funds to ensure that funds are earmarked to prevent funds from being misappropriated and forming new "triangular debts".

6. Focus on prevention and strengthen credit management and settlement management. For credit management, it is necessary to establish credit files, clear accounts receivable according to the current situation, and establish credit risk management systems and procedures. Customer credit includes various aspects such as credibility, compliance with laws and regulations, solvency, operating conditions, etc. For settlement management, it is necessary to determine the applicable settlement method based on the size and credibility of the customer, and establish a good settlement order among enterprises. In the payment process, strict financial approval procedures are implemented. For abnormal payments, the general manager, business department, and financial department jointly sign and review, and multiple parties check. In this way, the issue is considered more comprehensively, risks can be avoided, and losses can be reduced.

7. Strictly control costs and expenses to increase efficiency. To control costs, we must use each order as a responsibility center, the contract as the basis, the cost as the focus, and the invoice as the object. Track the entire business process, conduct pre-event review, in-process control, and post-event analysis. Comprehensively control the cost of each order to reduce costs and improve economic benefits.

8. Strengthen the concept of information-based financial management. In the modern market economy, all economic activities must be oriented by fast, accurate and complete information, and information has become an important media for market economic activities. Moreover, with the advent of the era of knowledge economy, the new information technology revolution with digital technology as its main content has greatly accelerated the dissemination, processing and feedback of information, allowing transaction decisions to be completed in an instant, and the so-called media space has emerged. and "online entities", which determines that in the era of economic knowledge, corporate financial personnel must firmly establish the concept of information financial management, starting from comprehensive, accurate, rapid and effective collection, analysis and use of information to make financial decisions and funds Operational planning.

9. Management of profit distribution. Profit distribution is the distribution of net profits made by enterprises in accordance with relevant national regulations and investor resolutions. Profit distribution plays a leverage role in the enterprise, and it correctly handles the economic relationship between the enterprise and all aspects. It is of extremely important significance to mobilize the enthusiasm of all parties and promote the development of enterprises. How can an enterprise's profit distribution be more reasonable and better leverage economic leverage, thereby mobilizing the enthusiasm of all levels and personnel? This is a new topic under the new situation. The implementation of an annual salary system for business operators can be said to be the inevitable result of the new form of profit distribution. Distribution according to work and participation in distribution of production factors will become the main form of profit distribution for enterprises. Employee shareholding and operator ownership will make the enterprise and employees a community of interests, and risks and profits will vary depending on their shareholding ratio.

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