Financial management of enterprise bankruptcy is an economic management work to organize financial activities of bankrupt enterprises and deal with financial relations of bankrupt enterprises according to enterprise bankruptcy law and relevant laws, regulations and systems. The contents of enterprise bankruptcy financial management include bankruptcy property management, bankruptcy debt management, bankruptcy liquidation cost management, bankruptcy property distribution management and so on. The financial relations of an enterprise in various aspects in the bankruptcy stage include: the financial liquidation relationship between the enterprise and creditors, the liquidation relationship between the enterprise and the state, the liquidation relationship between the enterprise and employees, the liquidation relationship between wages and labor insurance expenses, the property right transaction relationship between the enterprise and other enterprise units, and the expense settlement relationship between the enterprise and the liquidation group.
Organizing the financial management activities of bankrupt enterprises and handling the property rights relationship between bankrupt enterprises and relevant parties shall follow the following basic guidelines:
1. The principle of fairness. In bankruptcy liquidation, all creditors should be treated equally, and their claims should be paid off in the order stipulated by laws, policies and contracts, so that creditors can distribute the bankrupt's property fairly under the principle stipulated by law.
2. The principle of legality. No matter in the process of reconciliation and rectification, or in the process of bankruptcy liquidation, we must act according to law. Financial management of enterprise bankruptcy requires not only finance technology method, but also a lot of legal knowledge, such as the definition and confirmation of bankruptcy property, the payment and management of bankruptcy expenses, and the settlement of creditor's rights. , should be handled in accordance with the bankruptcy law and other relevant laws.
3. Economic principles. In the financial management of enterprise bankruptcy, we must practise economy, oppose waste and reduce losses. Because the cost of reconciliation and rectification is lower than that of bankruptcy liquidation, we should try our best to solve the problem through reconciliation and rectification on the premise of feasibility; Only when reconciliation is not feasible, bankruptcy liquidation is adopted; During the period of rectification or bankruptcy liquidation, we should try our best to save money.
Second, the management of enterprise bankruptcy takeover
The management of enterprise bankruptcy takeover is one of the important contents of enterprise bankruptcy financial management, and the legal manager (receiver) of bankrupt enterprise is the liquidation group. The people's court shall set up a liquidation group to take over the enterprise within 05 days from the date of declaring the enterprise bankrupt. The members of the liquidation group shall be appointed by the people's court from the superior departments in charge of enterprises, government finance and other relevant departments and professionals (such as lawyers, accountants, economists and engineers). ), the liquidation group may employ necessary staff. The main duties of the liquidation group are: to take over the enterprise in an all-round way and keep all the property, account books, documents, materials and seals of the bankrupt enterprise; Responsible for the liquidation, valuation, sale and distribution of bankruptcy property; Carry out necessary civil activities in accordance with the law within the scope of bankruptcy proceedings; Accepting the debtor and property holder of a bankrupt enterprise to pay off debts or deliver property; After the bankruptcy procedure is completed, the cancellation of registration shall be handled with the original registration authority of the bankrupt enterprise. The liquidation group shall also make a balance sheet, a list of bankrupt property, a list of creditor's rights and debts, and other relevant statements and materials according to the liquidation results, put forward a distribution plan of bankrupt property and submit a liquidation report.
The purpose of implementing the takeover of enterprise bankruptcy property is: first, to ensure the authenticity and security of enterprise property value and protect the legitimate rights and interests of creditors; The second is to prevent illegal acts of transferring enterprise property without compensation by means of concealment, private sharing and donation; The third is to provide reliable and concrete basis for property auction. The takeover of enterprise bankruptcy property mainly includes two aspects: clearance, comprehensive registration and property evaluation.
1. Clear the warehouse and check the library, and fully register. Mainly do a good job in clearing and registering physical property, verifying creditor's rights and checking and registering assets. The inventory of physical assets includes: the inventory and registration of cash on hand; Inventory and check of bank deposits, inventory and registration of fixed assets; Inventory and registration of goods, materials, finished products and products.
2. Property valuation. It refers to the use of appropriate methods to determine the actual value of property and materials of bankrupt enterprises in monetary measurement. For physical property, the selling value of each bankrupt property should be re-estimated according to the old and new degree and market factors, and registered in property inspection account books. There are many methods of property appraisal, but there are three widely used methods in practice: replacement value method, realized value method and net worth method. Appropriate evaluation methods and standards should be selected according to the nature and different situations of real estate, so that the evaluation value of real estate is as close as possible to the realized value.
The chief accountant or the person in charge of the accounting institution of a bankrupt enterprise shall actively cooperate with and assist the bankruptcy liquidation team, and shall not leave his post before the end of the bankruptcy proceedings. When the bankruptcy liquidation group takes over the financial statements, accounting books and other accounting materials of the bankrupt enterprise, it should first urge and assist the original accountants of the bankrupt enterprise to settle the balance of each bank account as of the bankruptcy declaration date (base date), handle the final accounts of the enterprise, prepare various financial and accounting statements, do a good job in handover and draw a clear responsibility.
III. Definition and management of bankruptcy property.
Bankruptcy property is the sum of bankrupt property distributed to creditors in accordance with bankruptcy procedures. The contents of bankruptcy property include: current assets, long-term assets, fixed assets, intangible assets, deferred assets and other assets. The bankruptcy property consists of the following items:
1. All the property managed when the bankrupt enterprise goes bankrupt is deducted from the secured property. According to the formation channels, it includes the property granted by the state to the enterprise for management, the property formed by the enterprise's self-raised funds and the property formed by borrowing funds.
2. The property acquired by a bankrupt enterprise from the time of bankruptcy declaration to the end of bankruptcy proceedings includes the creditor's rights recovered by the bankrupt enterprise, the investment recovered from the joint venture due to bankruptcy, and the property recovered by the people's court due to the invalid behavior of the bankrupt enterprise.
3. Other property rights that should be exercised by the bankrupt enterprise. Property that has not expired at the end of bankruptcy shall be claimed by the bankrupt enterprise. Such as the profits to be shared by the joint venture, the interest and dividends from the subscription of treasury bonds and stocks, and the technology transfer fee extracted from the sales income of the contractor.
IV. Bankruptcy expense management and debt settlement
Where the creditor waives the priority right of repayment of the bankrupt enterprise property as collateral, the collateral shall be included in the scope of bankrupt property; If the creditor does not give up the priority of compensation, the part exceeding the mortgaged creditor's rights shall be included in the scope of bankruptcy property. Property belonging to others in a bankrupt enterprise, such as leased or borrowed fixed assets, packaging materials, raw materials entrusted for processing, materials entrusted for consignment, etc. , not bankrupt property, should be retrieved by the property owner through the liquidation group. Employees' houses, schools, nurseries, kindergartens, canteens, hospitals and other ancillary welfare facilities of bankrupt enterprises are not included in the scope of bankruptcy property in principle; However, if it is not necessary to keep it and it can be sold as a whole, it can be included in the bankruptcy property.
After an enterprise is declared bankrupt, before the bankruptcy property is disposed of, an asset appraisal institution with legal qualifications shall evaluate the property, and the evaluated price shall be used as the reserve price for the disposal and sale of the bankruptcy property, which shall be transferred according to law through auction, bidding and other means. It is strictly forbidden to "divide first and then break" low-priced transactions to prevent the loss of state-owned assets. The proceeds from the transfer of land use rights obtained by bankrupt enterprises according to law shall be used first for the resettlement of employees of bankrupt enterprises; After the employees of the bankrupt enterprise are resettled, the rest will be included in the distribution of bankrupt property together with other property; The liquidation group shall pay off the debts according to the distribution plan adopted by the creditors' meeting or the repayment ratio ruled by the people's court. The following bankruptcy expenses should be paid in priority: living expenses of employees during liquidation; Expenses required for the management, sale and distribution of bankrupt property; Legal fees for bankruptcy cases; The expenses (including office expenses) that the liquidation group must pay to carry out its work, and the salary and living allowance of the staff of the liquidation group; Maintenance expenses of enterprise facilities and equipment during liquidation; Audit evaluation fee; Other expenses paid for creditors' profits in bankruptcy proceedings, including creditors' meeting expenses, travel expenses of bankrupt enterprises for debt collection and other unforeseen expenses. However, the expenses incurred by the debtor of a bankrupt enterprise to participate in the bankruptcy proceedings, such as the travel expenses to the place where the bankrupt enterprise is located and the expenses for attending the creditors' meeting, cannot be classified as bankruptcy expenses. When the bankruptcy property is insufficient to pay the bankruptcy expenses, the people's court shall declare the bankruptcy proceedings over and the outstanding debts will not be paid off.
After paying off the bankruptcy expenses first, the bankrupt property shall be paid off in the following order: ① the wages, pensions, medical expenses and labor insurance expenses owed by the bankrupt enterprise, as well as various expenses needed to resettle the employees of the bankrupt enterprise; ② Tax owed by bankrupt enterprises; ③ Bankruptcy creditor's rights. If the bankruptcy property is insufficient to pay off the repayment requirements in the same order, it shall be distributed in proportion. In the above-mentioned first settlement order, the resettlement expenses of employees of bankrupt enterprises are considered, and various measures such as job transfer training, job introduction, production self-help and labor export are stipulated for employee resettlement, so as to properly arrange the re-employment of employees of bankrupt enterprises and ensure their basic living needs before re-employment. At the same time, employees of bankrupt enterprises are encouraged to seek self-employment, and one-time resettlement fees are paid to those who seek self-employment, and the status of employees of state-owned enterprises is no longer retained. One-time resettlement fees can be paid according to three times the average wage income of local enterprise employees in the previous year; Retirement expenses and medical expenses of retired employees of bankrupt enterprises are managed and paid by local social insurance institutions. Retirement fees and medical expenses are paid by social insurance institutions from social pooling funds. The part of the original endowment insurance and medical insurance fund that is insufficient for social co-ordination shall first be allocated from the proceeds from the transfer of land use rights, and the insufficient part shall be allocated from the disposal of other bankrupt property. However, in areas where the Interim Measures of the State Council on Retirement and Resignation of Employees and the Notice of the State Council on Deepening the Reform of the Old-age Insurance System for Enterprise Employees are implemented, monthly retirement (retirement) payments must be paid to employees in strict accordance with the relevant provisions of the state, and no one-time settlement method is allowed.