现代企业财务管理的探讨外文翻译.docx

现代企业财务管理的探讨外文翻译.docx

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现代企业财务管理的探讨外文翻译

DiscussionontheModernEnterpriseFinancialControl

RyanDavidson,JennyGoodwin-Stewart,PamelaKent

ThispaperdiscussestheThemodernenterpriseisbecomingChina'seconomicdevelopmentintheprocessofanimportantnewforce.However,withthemodernenterpriseinvestmentonthescaleoftheexpansionandextensionofthegrowinginvestmentlevels,themodernenterprisefinancialcontrolisbecomingincreasinglyurgent.Thisiscommoninstate-ownedenterprisegroupsandprivateenterprisegroups,acommonpredicament.Atpresent,themodernenterpriseisbecomingChina'senterprisestocompeteintheinternationalmarket,theleadingforce.InamarketeconomyundertheconditionsofmodernbusinesssuccessorfailuredependslargelyontheGroup'sfinancialmanagementandfinancialcontrolisamodernenterprisefinancialmanagementofthelink.ManyofthemodernenterprisebystrengtheningthefinancialcontrolsothattheGroupsignificantincreaseefficiency,andevensomeloss-makingbystrengtheningthefinancialcontrolofthemodernenterprisetoenablecompaniestoachieveprofitability.Inthispaper,expoundingChina'smodernenterprisesthemainproblemsoffinancialcontrol,basedonthechoiceoffinancialcontrolmethodwassummarizedandanalyzedthecontentofthemodernenterprisefinancialcontrols,thefinalresolutionofthefinancialcontrolmodeselectedkeyfactorsforthemodernenterprisetheimprovementoffinancialcontroltoprovideadegreeofmeaningfulviews.

1Introduction

WithChina'saccessiontoWTO,China'senterprisegroupsmustbeontheworldstagetocompetewithTNCsfromdevelopedcountries.AtpresentthedevelopmentofenterprisegroupsinChinaisnotsatisfactory,althoughtherearenationalpoliciesandinstitutionalreasons,butmoreimportantisitsfinancialmanagementinparticular,causedbyinadequatefinancialcontrols.Foralongtime,China'senterprisegroupcohesionisnotstrong,theirrespectivesubsidiarieswithintheGroupforthearray,cannotplaythewholeadvantage;redundantconstructionandhaphazardintroductionoffrequent,smallinvestments,decentralizedprominentproblem:

financialmanagementischaotic,resultinginfrequentlossofcontrol,awasteofmoneythephenomenonofserious;ineffectivefinancialcontrol,financialmanagementloopholes.Inrecentyears,enterprisegroup'sfinancialcontrolhasbeenourcountry'sfinancialcircles.Inshort,theproblemofexplorationinourcountryhasobviouspracticalsignificance.

Clearly,China'smodernenterprisefinancialcontrolsarethemainproblemistosolvetheproblemoffinancialcontrolmethodbasedonthechoiceoffinancialcontrolmethodisthekeyfinancialcontrolofthemodernenterprisecontentiscontent,whilethefinancialcontrolmethodofchoiceistheultimateownershipofthemainfactorsthatpoint,Thistrainofthoughthereonthemodernenterprise'sfinancialcontrolmethodwereanalyzed.

2.Anoverviewofthemodernenterprisefinancialcontrol

Internalcontroloverfinancialcontrolisanimportantpart,isasubsidiaryofparentcompanycontrolofanimportantpartofitsfinancialmanagementsystemisthecoreof.Theconceptofmodernenterprisefinancialcontrolsinaccordancewiththetraditionaldefinition,financialcontrolreferstothe"FinancialOfficers（sector）throughthefinancialregulations,financialsystems,financialscale,financialplanninggoalsofcapitalmovement（orthedailyfinancialactivities,andcashflow）forguidance,organization,supervisionanddiscipline,toensurethatthefinancialplan（goals）toachievethemanagementactivities.financialcontrolisanimportantpartoffinancialmanagementorbasicfunctions,andfinancialprojections,financialdecision-making,financialanalysisandevaluationtogetherwithafinancialmanagementsystemorallthefunctions.

Themodernenterprise'sfinancialcontrolisintheinvestor'sownershipandcorporatepropertyrightsbasedonthegeneratedsurroundingtheGroup'soverallobjective,usingavarietyoffinancialmeans,themembersoftheenterprise'seconomicactivities,regulation,guidance,controlandsupervision,sothatitManagementGroup'sdevelopmentactivitiesareconsistentwiththeoverallgoalofmaintainingthegroupasawhole.Financialcontrolisapowertocontrolonesideofthesidecontrol,inevitablybasedononeorseveralpowers.Financialcontrolisessentiallyrelatedtotheinterestsofenterprisesintheorganization,theconductofcontrol,namely,bycontrollingthefinancialactivitiesoftheassets,personnelactions,tocoordinatetheobjectivesofthepartiestoensurethatbusinessgoals.Themodernenterprisefinancialcontrolincludestwoaspects:

theownerfundedfinancialcontrolandcorporatemanagersfinancialcontrol.Fromthedonorspointofview,theessenceofthemodernenterpriseischaracterizedbyinvestorandcorporatepropertyrightsofownershipandseparation.Investorswillinvestitscapitaltotheenterpriseaftertheircapitalcombinedwithdebtcapital,constitutetheenterprise'scapital,theformationofcorporatebusinessassetsisfundedbycorporateproperty,thenlostdirectcontroloverthefundersinordertoachieveitsCapitalmaintenanceandappreciationofthegoal,onlythroughcontrolofitscapitalmanipulationofcorporateassetsinordertoachievethemaximumcapitalvaluedonors.Thecontrolofcapitalcontrolsisanimportantpropertyistheprerequisiteandfoundationforfinancialcontrol.Fromtheperspectiveofinternalmanagementofenterprisesanditsfinancialcontroltargetisthelegalpropertyofitsoperations.

3China'smodernenterprisesthemainproblemsoffinancialcontrol

Atpresent,themodernenterpriseisbecomingChina'senterprisestocompeteintheinternationalmarket,theleadingforce.InamarketeconomyundertheconditionsofmodernbusinesssuccessorfailuredependslargelyontheGroup'sfinancialmanagementandfinancialcontrolisamodernenterprisefinancialmanagementofthelink.China'smodernenterprisefinancialcontrolsarestillinthestagetobefurtherimproved,tovaryingdegrees,therearesomeurgentneedtoaddresstheproblem:

3.1Financialcontrolsetdecentralizedmodelofpolarization,lowefficiency

Inthefinancialcontrolofthesetofdecentralizedmodel,China'smodernenterprisepolarization.Thecurrentgroupoffinancialcontroleitherover-centralizationofpower,themembersofthebusinesshasnolegalstatusasasubsidiaryfactoryorworkshop,thegroupisseenasabigbusinessmanagement,leadershipfinancialrightsabsolute;orexcessivedecentralization,alargenumberofdecentralizedfinancialcontroltoasubsidiary,anyofitsfreedevelopment.

Inaddition,themodernenterprisefinancialcontrolsystemsuitedtheneedsofamarketeconomy,financialcontrolandflexibilityofprinciplethereisnoorganicunity.Ifthesubordinateenterprises,withfewfinancialdecision-makingpower,thenthetemporaryfinancialproblemsoccurateverylevelalwaysreportedtotheGroup'sheadquarters,andthenfromtheheadquartersdowntheimplementationofthedecision-makingateverylevel,soitiseasytomissmarketopportunities.Onthecontrary,whenthesubsidiaryoffinancialdecision-makingpoweristoolarge,theyeasilyleadtofinancialdecision-makingblindandmistakes,notonlyfortheGroup'sstafftoparticipateinmarketcompetition,failedtoexerciseanydecision-makingrole,butwillalsobecomeacompetitortothemarkettoprovideatoolforcompetitiveinformation,hinderthethefurtherdevelopmentofenterprises.

3.2Oneofthelackoffinancialcontrol

Financialcontrolinaccordancewiththeownerofintention,inaccordancewithrelevantlawsandregulations,systemsandstandards,throughcertainfinancialactivitiesandfinancialrelations,andfinancialactivitiestopromoteallaspectsofthefinancialrequirementsinaccordancewithacodeofconducttoconducthisactivities.FromChina'scurrentsituation,thefinancialcontrolofamodernenterprisemainlyfocusedonexpostfactocontrol,isoftenthelackofcriticalpre-budgetandtocontrolthings.Manymodernenterprises,afteradecisionisinadvance,forfurtherfinancialcontroltendedtofocusontheannualprofitplan,tomeetonthedevelopmentofafull-yearsalesrevenue,cost,targetprofit,andseveralotheroverarchingobjectives,withoutfurtherspecificdecision-makingtechnologytocompileforcontrolandmanagement,accordingtothemonth,quarterly,annualfinancialbudget.Therefore,theinterimbudgetandthusdifficulttocompareoperatingperformanceisamattertocontroltheemptywords.Asfortheexpostfactocontrol,althoughbasedontheyear-endassessmentoftheneedsandtogetsomeattention,theycanstillprofitintheannualplan,basedontherelevantaccountinginformationbarelysupportedbywhom,buttheeffectsareprettyeffective.Sincetheexantecontrolmaynotbeeffective,sosubordinateenterprisesthroughouttheimplementationprocessofdecision-makingarelargelyoutsidethecorebusinessoffinancialcontrol,divorcedfromthecorebusinessoffinancialcontrol.

Modernenterprisesthemselvesdonotestablishaparent-subsidiarylinkupthefinancialcontrolmechanisms,financialcontroltheirownways,theparentcompanyofthemodernenterprisecannotcometotheunifiedarrangementofastrategicinvestmentandfinancingactivities,thegroupblindlyexpandthescaleofinvestment,poorinvestmentstructure,externalborrowingoutofcontrol,financialstructureisextremelyweak,oncetheeconomicdownturnorproductsalesaresluggish,therebarrierstocapitalflows,theGroupintotroublewhentheybecomeaddicted.Aninterna