企業(yè)資金管理的應(yīng)用的方法分析

1、企業(yè)資金管理的應(yīng)用的方法分析Enterprise capital management analysis of the application method一、前言O(shè)ne, foreword 資金的安全一直是企業(yè)穩(wěn)定運營的重要因素之一，因此對資金所實施的管理策略一直是財務(wù)管理者乃至于企業(yè)管理層的所關(guān)注的問題。特別是對于那些運營資金規(guī)模大、資金周轉(zhuǎn)時間長的企業(yè)，由于資金投入大，財務(wù)融資金額大，利息高，容易導(dǎo)致流動資金短缺，將企業(yè)推向風險的端口。所以，合理有效的資金管理方法，長期以來都是這些運營資金規(guī)模大、資金周轉(zhuǎn)時間長的企業(yè)所迫切需要解決的問題。Capital safety has been t

2、he enterprise stable operation of one of the important factors, so treat money management strategy has been the financial management and enterprise management issues of concern. Especially for those who working capital scale, capital turnover time enterprise, due to the large capital investment, fin

3、ancial financing amount is big, interest is high, easy to cause the liquidity shortage, the enterprise to the risk of port. Therefore, reasonable and effective capital management method, has long been the working capital scale, capital turnover time enterprise urgent needs to solve the problem. 二、X企

4、業(yè)的概述Second, the overview of X enterprise 1. X企業(yè)的概況1. An overview of X enterprise X企業(yè)是一家生產(chǎn)、銷售海洋鉆井平臺及設(shè)備，并提供海洋鉆井模塊和設(shè)備的系統(tǒng)工程設(shè)計及技術(shù)服務(wù)、技術(shù)咨詢的中外合作企業(yè)，中方股東是國內(nèi)大型陸地石油裝備設(shè)計制造銷售商，外方股東是國外具有先進的海洋鉆井設(shè)備和完整的鉆井解決方案的企業(yè)。X企業(yè)屬于高新技術(shù)企業(yè)，雖然規(guī)模不大，但一貫秉承立足于國內(nèi)市場，提供優(yōu)質(zhì)產(chǎn)品和服務(wù)的理念，集雙方股東優(yōu)勢于一身，以安全、先進、經(jīng)濟的解決方案打造客戶信賴、社會尊重的世界級海洋石油平臺鉆井系統(tǒng)設(shè)計、集成及服務(wù)商。X

5、 company is a production and sales of Marine drilling RIGS and equipment, and provide the ocean drilling modules and equipment system engineering design and technical services, technical consultation of sino-foreign cooperative enterprise, Chinese shareholder is domestic large land petroleum equipme

6、nt design and manufacturing vendors, the foreign shareholder is an ocean of foreign advanced drilling equipment and complete drilling solutions businesses. X belongs to high and new technology enterprise, although small, but has always been adhering to the foothold in the domestic market, to provide

7、 quality products and services concept, collection of both shareholders advantages in one, a safe, advanced, economic solution to build customer trust, social respect of world-class Marine oil drilling platform system design, integration and service providers. X企業(yè)采用矩陣式組織結(jié)構(gòu)，橫向是職能部門，主要由行政管理部、財務(wù)中心、銷售部、

8、項目部、工程部、制造部以及售后服務(wù)部等部門組成，縱向是項目小組，每一個項目設(shè)立一個項目小組，根據(jù)項目需要，從各個職能部門抽調(diào)人員組成項目小組。項目小組負責整個項目的實施及人員、物資的調(diào)配，項目完成后，項目小組人員回歸其職能部門。組織結(jié)構(gòu)圖如下所示：X enterprise USES the matrix organization structure, transverse is functional departments, mainly from the administrative management department, financial center, sales departm

9、ent, project department, engineering department, manufacturing department, and after-sales service department and other departments, longitudinal is project team, every project to set up a project team, according to project needs, from the various functional departments from personnel of project tea

10、m. The implementation of the project team in charge of the whole project and the deployment of personnel, material, after the completion of the project, the project team personnel to return to its functions. Organization chart is as follows: 2. 行業(yè)概況2. The overview 根據(jù)中國產(chǎn)業(yè)競爭情報網(wǎng)統(tǒng)計，2011年石油鉆采設(shè)備全年銷售收入達138

11、1.5億元，具體行業(yè)情況如下圖。由于石油鉆采設(shè)備主要由石油、天然氣、煤層氣等觸及資源的行業(yè)發(fā)展所決定的，因此受石油、天然氣煤層氣未來幾年的需求預(yù)計大幅度上升，如國際能源署預(yù)測2012年全球原油需求將達到9830萬桶/日。因此，石油鉆采預(yù)測未來市場較好。然而，行業(yè)中前十名企業(yè)僅僅占了2011年銷售收入的22%左右，石油鉆采設(shè)備行業(yè)近幾年來兼并重組的步伐不斷的加快，不少企業(yè)希望通過兼并重組，提高技術(shù)，提升競爭力，建立行業(yè)壁壘。Competitive intelligence network statistics according to China's industry, oil dril

12、ling equipment in 2011 annual sales income of 138.15 billion yuan, specific industry conditions below. Due to oil drilling equipment is mainly by touch, such as oil, natural gas, coalbed methane resources are determined by the development of the industry, so the oil, natural gas, coalbed methane dem

13、and over the next few years is expected to rise significantly, such as the international energy agency predicts that global oil demand in 2012 will reach 98.3 million barrels per day. Therefore, oil drilling market to predict the future is good. However, in the industry top ten enterprise only accou

14、nts for 22% of sales revenue in 2011, oil drilling equipment industry in recent years the pace of the annexation and reorganization unceasingly speeding up, many enterprises hope that through mergers and reorganization, improve technology, improve competitiveness, set up trade barriers. 緊隨著石油鉆采設(shè)備行業(yè)的

15、發(fā)展趨勢，X企業(yè)也加快擴張進程，2011年以來，X企業(yè)以擴大經(jīng)營目標，一方面不斷的開發(fā)新的業(yè)務(wù)和客戶，另一方面繼續(xù)保持現(xiàn)有產(chǎn)品質(zhì)量的同時，提高設(shè)備性能，實現(xiàn)設(shè)備的改進。然而，由于鉆井設(shè)備的成本高，投入資金規(guī)模大，時間跨度長，設(shè)備生產(chǎn)、安裝、調(diào)試、使用通常需要一至兩年，從客戶驗收使用至應(yīng)收賬款的全額收回通常需要一至三年時間。所以，資金的周轉(zhuǎn)周期一般都在二至三年。綜上所述，提高融資管理效率，提升資金周轉(zhuǎn)速度，優(yōu)化資金結(jié)構(gòu)成為X企業(yè)亟待解決的問題。Tight with industry trend of the development of oil drilling equipment, X ent

16、erprise also to accelerate the process of expansion, since 2011, X enterprise to expand the management goal, on the one hand, constantly develop new business and customers, on the other hand, continue to maintain the existing product quality at the same time, improve equipment performance, implement

17、 equipment improvement. However, due to the high cost of drilling equipment, investment scale is big, long time span, equipment production, installation, commissioning, use usually need one to two years, from the customer acceptance to use full back to accounts receivable are usually takes one to th

18、ree years. Fund turnover cycle, therefore, generally in two to three years. To sum up, improve the efficiency of financial management, improve cash flow speed, to optimize capital structure become X enterprise problems to be solved. 三、 X企業(yè)資金管理的效果及問題分析Three, effect and problem analysis of X enterpris

19、e capital management 1. X企業(yè)資金管理的效果分析1. The effect of X enterprise capital management analysis 當前，X企業(yè)設(shè)置有財務(wù)中心，主要負責企業(yè)的財務(wù)戰(zhàn)略，統(tǒng)一企業(yè)的核算及控制，建立、完善和推動執(zhí)行企業(yè)財務(wù)管理制度，定期編制財務(wù)報表，做好稅收籌劃工作。在資金管理方面，鑒于X企業(yè)屬于大型集成專用設(shè)備制造行業(yè)，具有資金密集的特點，資金需求量非常大，但由于企業(yè)規(guī)模不大，融資渠道相對狹窄，資金短缺的可能一直困擾著財務(wù)管理者；同時，又因為資金回籠速度慢，資金周轉(zhuǎn)期長，資金緊缺，亦導(dǎo)致擴大經(jīng)營的事情舉步艱難；自金融危機后，

20、應(yīng)收賬款的收款情況一直不理想，也抑制了企業(yè)前進的步伐。因此，資金管理成為X企業(yè)當前財務(wù)管理中的重要內(nèi)容。Currently, X enterprise set up with financial center, is mainly responsible for enterprise of financial strategy, unified enterprise accounting and control, to establish, improve and enforce enterprise financial management system, prepare financial

21、 statements on a regular basis, to do a good job of tax planning. In money management, given the X enterprise belongs to the large integrated special equipment manufacturing industry, has the characteristics of capital intensive, capital demand is very big, but because enterprise scale is not large,

22、 relatively narrow financing channel and the shortage of funds may have been plagued by financial managers; At the same time, because the money collecting speed is slow, capital turnover period is long, shortage of funds, also lead to expand more difficult thing; Since the financial crisis, the coll

23、ection of accounts receivable has not been ideal, also inhibits the onward march of enterprises. As a result, money management become the important content in current financial management of X enterprise. 2. X企業(yè)資金管理的問題分析2. The problem analysis of X enterprise capital management 根據(jù)多年來在X企業(yè)財務(wù)中心工作，對企業(yè)的資

24、金管理方面的問題分析如下：According to many years work, in the center of the X enterprise financial problem analysis to enterprise's fund management are as follows: （1） 風險管理意識不足。企業(yè)缺乏完善的風險防范機制，這是一個極其危險的信號。一旦企業(yè)在項目實施過程中，發(fā)生意外事件，將對企業(yè)的資金運作產(chǎn)生極大壓力，如若處理不當，甚至有可能使整個企業(yè)被推上風險端口。(1) lack of awareness of risk management. En

25、terprises lack of perfect risk prevention mechanism, it is a very dangerous signal. Once the enterprise in the process of project implementation, accident occurs, it will produce great pressure to the enterprise capital operation, if mishandled, could even make the whole enterprise risk to port. （2）

26、 負債較高。由于石油鉆采設(shè)備行業(yè)的增長速度顯著加快，行業(yè)中各企業(yè)對資金的需求都在持續(xù)增加。行業(yè)中不少企業(yè)都認同負債經(jīng)營的方式，根據(jù)2012年石油設(shè)備行業(yè)預(yù)測報告公布，2011年石油設(shè)備行業(yè)上市公司的總體資產(chǎn)負債率超過65%，同比上升6%，預(yù)計2012年的總體資產(chǎn)負債率將超過70%。從企業(yè)的資產(chǎn)結(jié)構(gòu)可以知道，負債占總資產(chǎn)的比率已經(jīng)達到歷史的高水平。X企業(yè)的情況也是如此，資產(chǎn)負債率達到64.8%，還本付息的壓力大，然而，資金回籠的速度卻相對滯后，流動比率總體水平高達50%以上。如此情況下，一旦產(chǎn)品項目在建設(shè)過程中發(fā)生問題，以至于項目未能夠如期完工交貨，X企業(yè)很可能就無法償還貸款，甚至面臨清算風險。

27、(2) the higher debt. Because of oil drilling equipment industry growth rate significantly faster, each enterprise in the industry demand for funds have continued to increase. Industry many enterprises recognize the way of indebtedness, according to the petroleum equipment industry in 2012 forecast r

28、eport released, the petroleum equipment industry in 2011 the overall asset-liability ratio of listed companies more than 65%, rose 6%, the total asset-liability ratio in 2012 is expected to more than 70%. Can know from the enterprise asset structure, debt to total assets ratio has reached a historic

29、al high level. The same is true for X enterprise, asset-liability ratio reached 64.8%, servicing pressure big, however, the money collecting speed is relatively lag, overall level of liquidity ratio is as high as 50% above. Such cases, once the product problems in the process of construction project

30、, so that the project could be completed on schedule delivery, X enterprise probably cannot repay the loan, or even face liquidation risk. （3） 投資成本高。石油裝備行業(yè)是資金密集型的行業(yè)，X企業(yè)的海洋石油鉆采設(shè)備的生產(chǎn)需要先期投入大量資金，生產(chǎn)周期長，對資金周轉(zhuǎn)率、資金使用率的要求較高，因而每個項目的實施都必須經(jīng)過詳盡的資金分析和周密的資金安排，才能夠保證項目正常運轉(zhuǎn)。(3) the investment cost is high. Oil equipm

31、ent industry is a capital-intensive industry, offshore oil drilling equipment in the production of X enterprise will require a lot of money upfront, production cycle is long, the turnover of funds, funds utilization rate of the demand is higher, thus the implementation of each project must be throug

32、h the detailed analysis and careful arrangements, to ensure project run properly. （4） 投資風險大。由于X企業(yè)每個項目所占用的資金量非常大，相對的投資風險因素也必然增多。與之同時，石油行業(yè)受國際環(huán)境的影響較大，隨之而來的政治因素、經(jīng)濟因素、社會因素都會對石油行業(yè)有較大的不可控制的影響，從而石油設(shè)備也會受到較大的影響。哪怕僅有一個項目受到客觀因素影響，對于X企業(yè)來說，都可能關(guān)乎生存和發(fā)展。(4) the investment risk is big. Because the X enterprise the ov

33、erall amount of capital each project occupies is very large, relative to investment risk factors will also increase. And at the same time, the oil industry are greatly influenced by the international environment, followed by political factors, economic factors, social factors will have larger uncont

34、rollable effects on oil industry, and oil equipment will be affected by the larger. Even if only a project affected by objective factors, for X enterprise, is likely to be about the survival and development. 四、X企業(yè)資金管理的應(yīng)用Iv. Application of X enterprise capital management 1. X企業(yè)資金管理的目標1. The goal of X

35、 enterprise capital management 基于對X企業(yè)的資金管理上存在的問題進行分析后，確定X企業(yè)的資金管理的目標為：保證資金安全，必須拓寬融資渠道，開發(fā)融資方法，形成對戰(zhàn)略項目的有效支持；提高資金使用效率；控制經(jīng)營風險，實現(xiàn)資金的動態(tài)監(jiān)控和資源整合；實現(xiàn)資金事前計劃、事中控制、事后分析的全天候控制體系；實現(xiàn)快速資金報表體系，提供領(lǐng)導(dǎo)決策分析支持。Based on the capital management of X enterprise on the analysis of existing problems, determine the X enterprise ca

36、pital management goal is: to ensure the safety of capital, must broaden the financing channels, develop the financing method, form the effective support for strategic projects; To improve the service efficiency of funds; Dynamic monitoring and control management risk, realize resources integration;

37、Implement funds plan in advance, matter controls, afterwards the analysis of the all-weather control system; Achieve rapid capital report system, provide leadership decision analysis support. 2.企業(yè)資金管理的政策2. Enterprise capital management policy （1）積極拓寬融資渠道，開發(fā)創(chuàng)新金融產(chǎn)品。應(yīng)該跟其他大型的機械設(shè)備企業(yè)共同開發(fā)多元化的融資渠道，發(fā)展符合大型的機械

38、設(shè)備企業(yè)特點的融資渠道，從而降低融資過程中的風險。比如，與客戶、銀行合作，開發(fā)融資租賃的金融產(chǎn)品，既能夠保證項目資金的到位、安全，又能夠與銀行形成良好的合作關(guān)系；項目與還款能力掛鉤，項目資金與銀行貸款形成一一對應(yīng)關(guān)系，應(yīng)收賬款的管理與銀行還貸工作相互勾結(jié)，形成一個全企業(yè)資金 第一論文網(wǎng)的統(tǒng)籌管理，實現(xiàn)資金良性循環(huán)。又比如，以預(yù)付款的形式收取客戶的項目建設(shè)資金，既能夠保證項目的順利展開，又能夠降低還本付息的壓力。(1) actively broaden the financing channels, to develop innovative financial products. Should

39、 be with the other large mechanical equipment of the enterprises to jointly develop diversified financing channels, accord with the characteristics of large mechanical equipment of the enterprise development the financing channels, thereby reducing the risk in the process of financing. Working with

40、customers, Banks, for example, development financing lease of financial products, both to ensure that project funds in place, security, and to form a good relations of cooperation with the bank; Projects linked to reimbursement ability, form one to one correspondence relation capital and bank loans,

41、 accounts receivable management have, in collusion with the loan with the bank work, forming a net of paper of the overall management of the whole enterprise funds, realize benign cycle. Again, for example, in the form of advance payment for customer project construction fund, both to ensure project

42、 smoothly, and can reduce debt service pressure. （2）加強對流動資金的管理。由于石油設(shè)備行業(yè)中的設(shè)備及其零配件、應(yīng)收賬款是流動資金的主要構(gòu)成部分，而且金額往往非常大。因此，流動資金的管理對資金管理來說是至關(guān)重要的。由于石油鉆采設(shè)備需要在客戶驗收使用后才能夠回籠資金，耗費時間長，一旦應(yīng)收賬款賬期長，逾期或者呆賬的可能性就會增大。所以，應(yīng)該把應(yīng)收賬款的回籠作為企業(yè)管理考核的一部分，提高員工對應(yīng)收賬款的回籠的關(guān)注程度，不斷地完善應(yīng)收賬款的管理制度。(2) to strengthen the management of working capital.

43、 As the equipment and its spare parts in the petroleum equipment industry, accounts receivable, cash flow is the main part, and the amount is often very large. Therefore, cash flow management is crucial for cash management. Due to oil drilling equipment are in need in the customer acceptance before

44、it can be drained after use, take long time, once the accounts receivable account period long, within the time limit or the possibility of bad debt will increase. So, accounts receivable cage should be performed as part of the assessment of enterprise management, improve the staff degree of attentio

45、n to accounts receivable cage, constantly improve the system of accounts receivable management. （3）建立資金績效管理體系。不斷的改進現(xiàn)有的資金管理辦法，建立起公司范圍內(nèi)的資金績效評價體系，從供應(yīng)鏈管理到企業(yè)內(nèi)部，從企業(yè)內(nèi)部到銷售客戶的全方位的角度，改進資金運營效率，提高企業(yè)理財能力，提高對資金的管理水平。(3) to establish funds performance management system. Continuous improvement measures for the mana

46、gement of existing funds, established a company within the scope of the fund performance evaluation system, from supply chain management to the enterprise internal, from the enterprise interior to sell customers a full range of Angle, improve the operating efficiency of funds, improve the enterprise financing ability, improve the level of management of