项目建议书英文.docx

1、项目建议书英文November , 1995Mr. Rubin J. McDougalDirector of Financial Planning & Business DevelopmentWhirlpool Asia460 Alexandra Road#18-00 PSA BuildingSingapore 0511Dear Mr. McDougal,It was a pleasure meeting with you to discuss your plans to improve the financial reporting system of Shenzhen Whirlpool

2、Raybo Air-conditioner Industrial Company Limited (Raybo), a joint venture to be established in Shenzhen, the Peoples Republic of China (the PRC) between Whirlpool Overseas Holding Corporation (WOHC) and Shenzhen Petrochemical Holdings Company Limited (SPHCL).We believe that we are uniquely qualified

3、 to serve you on this important project because of our substantial knowledge of Chinese accounting practices and regulations, our understanding of the Chinese mentality and management philosophy, and above all, our long-term commitment to the PRC. Appendix I gives a brief account of relevant experie

4、nce in the PRC.We are pleased to set forth in the accompanying proposal our proposed consulting services to assist you in improving Raybos financial reporting system so as to achieve the Whirlpool groups standard.We set out below the information regarding our work to be performed, the deliverables,

5、the timing of our work, and our fee arrangements.The standard terms and conditions in Appendix II are incorporated by reference and accordingly, would be made a part of the arrangement if this proposal was accepted.We are pleased to have the opportunity to be of service to you on this important proj

6、ect. If you find the proposal in order, we would be grateful if you could confirm the proposed arrangements by signing the attached copy of this letter and by returning it to us for our files. If you have any questions regarding these arrangements, please contact Peter Mak (86 755) 228-0043) or Bur

7、Chan (86 755) 218-0401).Very truly yours,Agreed and accepted by: For and on behalf of DateWhirlpool AsiaWhirlpool AsiaProposal for the Improvement of the Financial Reporting SystemofShenzhen Whirlpool Raybo Air-conditioner Industrial Company LimitedNovember 1995Table of ContentsSection Page1. Backgr

8、ound 1 2. Project Scope and Approach - An Overview 23. Phase I - Diagnostic Review 34. Phase II - System Development 55. Phase II - System Implementation 76. Project Organization 97. Time and Fee Estimates 10AppendicesI. Relevant Experience in the PRCII. Standard Terms of Conditions1. BackgroundWe u

9、nderstand that Whirlpool Overseas Holding Corporation (WOHC) is planning to establish a joint venture, Shenzhen Whirlpool Raybo Air-conditioner Industrial Company Limited (Raybo), with Shenzhen Petrochemical Holdings Company Limited (SPHCL) located in Shenzhen, the Peoples Republic of China (the PRC

10、). The capital of Raybo amounts to and 75% and 25% of which will be contributed by WOHC and SPHCL respectively.Raybo will be engaged in the production and trading of air-conditioners after its formation probably in December 1995 and will has about employees. The factory site, equipment and staff per

11、sonnel will mainly be transferred from the existing factory owned by SPHCL (the Factory).The financial reporting system presently in use by the Factory is not consistent with the WOHCs requirement. With a view to implementing an unique and effective management and financial controls over Raybo in th

12、e future, WOHC is exploring ways to improve and upgrade the financial reporting system of Raybo to reach its requirements.In this connection, we understand that you need assistance from a consultant to assist in the development and implementation of financial reporting system for Raybo.2. Project Sc

13、ope And Approach - An OverviewBased on our preliminary understanding of your needs as mentioned above, we propose to provide the following support to you in three critical stages as follows:-We believe that the overall objective of our work is to help Raybo develop and implement financial reporting

14、system which could: provide financial reports to meet local reporting purpose as well as WOHCs consolidation purpose (i.e. financial statements prepared on the basis of Whirlpools financial reporting requirements imposed on Raybo). provide management reports to local and WOHCs management to help the

15、m control and evaluate performance and efficiency; and encompass appropriate internal controls to ensure proper use of funds and safeguard assets.Section 3 to 5 below will describe the details work to be performed and the deliverables thereon.3. Phase I - Diagnostic ReviewObjectives Understand WOHCs

16、 requirements to be imposed on Raybos financial reporting system. Review and analyze the current financial reporting system of the Factory. Identify inconsistent between the present and required financial reporting system of the Factory. Provide a summary of deficiencies noted and a list of recommen

17、dations to be implemented.Scope of Work Discuss with WOHC and the Factorys management to understand their financial reporting needs on Raybo after its formation. Discuss with WOHC and the Factorys management to understand the proposed organizational structure, key responsibilities of each department

18、, and the functions and authority of key personnel. Discuss with the Factorys management and obtain an understanding of the existing accounting and internal control procedures and identify areas which have to be strengthened or streamlined. Major focus will be on the following areas: maintenance of

19、general ledger; sales order processing and credit control; purchase order processing; inventory management; and fixed asset and capital expenditure management.Deliverables Based on the discussion mentioned above, we will provide a report which contains: a summary of deficiencies noted between WOHCs

20、requirements and the currently financial reporting system of the Factory; and a list of recommendations to be implemented.4. Phase II - System DevelopmentObjectives Develop a set of financial reporting package which satisfies both local and WOHCs financial reporting requirements. This reporting pack

21、age is able to provide management and financial information and hence help control and evaluate performance and efficiency of Raybo. Develop a set of accounting manual and a set of accounting controls manual, which standardize the accounting procedures and provide better controls on the key control

22、procedures.Scope of Work Design a monthly reporting package (both in English and Chinese) which will comprise: financial statements prepared on the basis of PRC accounting standards; schedule of adjustments based on WOHCs requirements; financial statements prepared on the basis of WOHCs requirements

23、; and other management and financial reports as required by WOHC and the Factorys management. Develop accounting manuals (in Chinese) covering key control procedures in: preparation of the monthly reporting package; and maintenance of the general ledger. Develop accounting control manuals (in Chines

24、e) covering key control procedures in: sales order processing and credit control; purchase order processing; inventory management; and fixed asset and capital expenditure management.Deliverables At the end of Phase II, we will provide: a set of financial reporting package which satisfies both local

25、and WOHCs financial reporting requirements; a set of accounting manual; and a set of accounting controls manual.5. Phase III - System ImplementationObjectives Facilitate the implementation of Raybos new financial reporting system by providing trainings to the relevant personnel, follow-up visits to

26、Raybo and correctives actions on the problems encountered during implementation.Scope of Work Develop an action plan and timetable for implementation. Obtain confirmation from local management on the framework and timing of implementation. Debrief Raybos accounting staff on WOHCs financial reporting

27、 requirements practices, adjustment procedures thereon to meet such requirements, and new accounting procedures as described in the accounting manuals. Conduct training for Raybos key accounting and management personnel on the new control procedures. Assist Raybos personnel to kick-off implementatio

28、n according to the timetable. Perform two follow-up visits and recommend appropriate corrective actions to address major problems and issues that come to our attention. Fine tune the new procedures based on actual experience and feedback during implementation. Document major problems and issues enco

29、untered during implementation and the relevant corrective actions taken.Deliverables Key deliverables of Phase III will include: a detailed timetable and action plan for implementation; a 1-day training for Raybos key accounting and management personnel and the related training materials; assistance

30、 on the problems encountered during implementation; and two follow-up visits and recommendation on the appropriate corrective actions to address major problems and issues that come to our attention.6. Project OrganizationWe believe that Arthur Andersen is uniquely qualified to assist WOHC and Raybo

31、in this project. We have extensive experience in performing similar projects for a number of joint ventures in the PRC (see Appendix II for details).Our engagement team will be headed by Mr. Peter Mak, our Managing Partner of our Shenzhen office, and he will have the overall responsibility on this project. Mr. Bur Chan, our Business Consulting Manager in Shenzhen office, will be responsible for the daily project activities. They will be assisted by our consultants from Hong Kong and Shenzhen offices as and when we consider necessary.The successful impleme