企业资金管理的应用的方法分析.doc

企业资金管理的应用的方法分析
Enterprise capital management analysis of the application method
一、前言
One, foreword
　　资金的安全一直是企业稳定运营的重要因素之一，因此对资金所实施的管理策略一直是财务管理者乃至于企业管理层的所关注的问题。特别是对于那些运营资金规模大、资金周转时间长的企业，由于资金投入大，财务融资金额大，利息高，容易导致流动资金短缺，将企业推向风险的端口。所以，合理有效的资金管理方法，长期以来都是这些运营资金规模大、资金周转时间长的企业所迫切需要解决的问题。
Capital safety has been the 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, financial 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企业的概述
Second, the overview of X enterprise
　　1. X企业的概况
1. An overview of X enterprise
　　X企业是一家生产、销售海洋钻井平台及设备，并提供海洋钻井模块和设备的系统工程设计及技术服务、技术咨询的中外合作企业，中方股东是国内大型陆地石油装备设计制造销售商，外方股东是国外具有先进的海洋钻井设备和完整的钻井解决方案的企业。X企业属于高新技术企业，虽然规模不大，但一贯秉承立足于国内市场，提供优质产品和服务的理念，集双方股东优势于一身，以安全、先进、经济的解决方案打造客户信赖、社会尊重的世界级海洋石油平台钻井系统设计、集成及服务商。
X 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 equipment 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 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企业采用矩阵式组织结构，横向是职能部门，主要由行政管理部、财务中心、销售部、项目部、工程部、制造部以及售后服务部等部门组成，纵向是项目小组，每一个项目设立一个项目小组，根据项目需要，从各个职能部门抽调人员组成项目小组。项目小组负责整个项目的实施及人员、物资的调配，项目完成后，项目小组人员回归其职能部门。组织结构图如下所示：
X enterprise USES the matrix organization structure, transverse is functional departments, mainly from the administrative management department, financial center, sales department, 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 team. 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. 行业概况
2. The overview
　　根据中国产业竞争情报网统计，2011年石油钻采设备全年销售收入达1381.5亿元，具体行业情况如下图。由于石油钻采设备主要由石油、天然气、煤层气等触及资源的行业发展所决定的，因此受石油、天然气煤层气未来几年的需求预计大幅度上升，如国际能源署预测2012年全球原油需求将达到9830万桶/日。因此，石油钻采预测未来市场较好。然而，行业中前十名企业仅仅占了2011年销售收入的22%左右，石油钻采设备行业近几年来兼并重组的步伐不断的加快，不少企业希望通过兼并重组，提高技术，提升竞争力，建立行业壁垒。
Competitive intelligence network statistics according to China's industry, oil drilling 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 demand 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 accounts 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.
　　紧随着石油钻采设备行业的发展趋势，X企业也加快扩张进程，2011年以来，X企业以扩大经营目标，一方面不断的开发新的业务和客户，另一方面继续保持现有产品质量的同时，提高设备性能，实现设备的改进。然而，由于钻井设备的成本高，投入资金规模大，时间跨度长，设备生产、安装、调试、使用通常需要一至两年，从客户验收使用至应收账款的全额收回通常需要一至三年时间。所以，资金的周转周期一般都在二至三年。综上所述，提高融资管理效率，提升资金周转速度，优化资金结构成为X企业亟待解决的问题。
Tight with industry trend of the development of oil drilling equipment, X enterprise 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 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 three 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企业资金管理的效果及问题分析
Three, effect and problem analysis of X enterprise capital management
　　1. X企业资金管理的效果分析
1. The effect of X enterprise capital management analysis
　　当前，X企业设置有财务中心，主要负责企业的财务战略，统一企业的核算及控制，建立、完善和推动执行企业财务管理制度，定期编制财务报表，做好税收筹划工作。在资金管理方面，鉴于X企业属于大型集成专用设备制造行业，具有资金密集的特点，资金需求量非常大，但由于企业规模不大，融资渠道相对狭窄，资金短缺的可能一直困扰着财务管理者；同时，又因为资金回笼速度慢，资金周转期长，资金紧缺，亦导致扩大经营的事情举步艰难；自金融危机后，应收账款的收款情况一直不理想，也抑制了企业前进的步伐。因此，资金管理成为X企业当前财务管理中的重要内容。
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 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, 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 collection 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企业资金管理的问题分析
2. The problem analysis of X enterprise capital management
　　根据多年来在X企业财务中心工作，对企业的资金管理方面的问题分析如下：
According to many years work, in the center of the X enterprise financial problem analysis to enterprise's fund management are as follows:
　　（1） 风险管理意识不足。企业缺乏完善的风险防范机制，这是一个极其危险的信号。一旦企业在项目实施过程中，发生意外事件，将对企业的资金运作产生极大压力，如若处理不当，甚至有可能使整个企业被推上风险端口。
(1) lack of awareness of risk management. Enterprises 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） 负债较高。由于石油钻采设备行业的增长速度显著加快，行业中各企业对资金的需求都在持续增加。行业中不少企业都认同负债经营的方式，根据《2012年石油设备行业预测报告》公布，2011年石油设备行业上市公司的总体资产负债率超过65%，同比上升6%，预计2012年的总体资产负债率将超过70%。从企业的资产结构可以知道，负债占总资产的比率已经达到历史的高水平。X企业的情况也是如此，资产负债率达到64.8%，还本付息的压力大，然而，资金回笼的速度却相对滞后，流动比率总体水平高达50%以上。如此情况下，一旦产品项目在建设过程中发生问题，以至于项目未能够如期完工交货，X企业很可能就无法偿还贷款，甚至面临清算风险。
(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 report 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 historical 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, so that the project could be completed on schedule delivery, X enterprise probably cannot repay the loan, or even face liquidation risk.
　　（3） 投资成本高。石油装备行业是资金密集型的行业，X企业的海洋石油钻采设备的生产需要先期投入大量资金，生产周期长，对资金周转率、资金使用率的要求较高，因而每个项目的实施都必须经过详尽的资金分析和周密的资金安排，才能够保证项目正常运转。
(3) the investment cost is high. Oil equipment 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 through the detailed analysis and careful arrangements, to ensure project run properly.
　　（4） 投资风险大。由于X企业每个项目所占用的资金量非常大，相对的投资风险因素也必然增多。与之同时，石油行业受国际环境的影响较大，随之而来的政治因素、经济因素、社会因素都会对石油行业有较大的不可控制的影响，从而石油设备也会受到较大的影响哪怕仅有一个项目受到客观因素影响，对于X企业来说，都可能关乎生存和发展。
(4) the investment risk is big. Because the X enterprise the overall 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 uncontrollable 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企业资金管理的应用
Iv. Application of X enterprise capital management
　　1. X企业资金管理的目标
1. The goal of X enterprise capital management
　　基于对X企业的资金管理上存在的问题进行分析后，确定X企业的资金管理的目标为：保证资金安全，必须拓宽融资渠道，开发融资方法，形成对战略项目的有效支持；提高资金使用效率；控制经营风险，实现资金的动态监控和资源整合；实现资金事前计划、事中控制、事后分析的全天候控制体系；实现快速资金报表体系，提供领导决策分析支持。
Based on the capital management of X enterprise on the analysis of existing problems, determine the X enterprise capital 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; 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.企业资金管理的政策
2. Enterprise capital management policy
　　（1）积极拓宽融资渠道，开发创新金融产品。应该跟其他大型的机械设备企业共同开发多元化的融资渠道，发展符合大型的机械设备企业特点的融资渠道，从而降低融资过程中的风险。比如，与客户、银行合作，开发融资租赁的金融产品，既能够保证项目资金的到位、安全，又能够与银行形成良好的合作关系；项目与还款能力挂钩，项目资金与银行贷款形成一一对应关系，应收账款的管理与银行还贷工作相互勾结，形成一个全企业资金 第一论文网的统筹管理，实现资金良性循环。又比如，以预付款的形式收取客户的项目建设资金，既能够保证项目的顺利展开，又能够降低还本付息的压力。
(1) actively broaden the financing channels, to develop innovative financial products. Should 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 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, 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 smoothly, and can reduce debt service pressure.
　　（2）加强对流动资金的管理。由于石油设备行业中的设备及其零配件、应收账款是流动资金的主要构成部分，而且金额往往非常大。因此，流动资金的管理对资金管理来说是至关重要的。由于石油钻采设备需要在客户验收使用后才能够回笼资金，耗费时间长，一旦应收账款账期长，逾期或者呆账的可能性就会增大。所以，应该把应收账款的回笼作为企业管理考核的一部分，提高员工对应收账款的回笼的关注程度，不断地完善应收账款的管理制度。
(2) to strengthen the management of working capital. 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 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 attention to accounts receivable cage, constantly improve the system of accounts receivable management.
　　（3）建立资金绩效管理体系。不断的改进现有的资金管理办法，建立起公司范围内的资金绩效评价体系，从供应链管理到企业内部，从企业内部到销售客户的全方位的角度，改进资金运营效率，提高企业理财能力，提高对资金的管理水平。
(3) to establish funds performance management system. Continuous improvement measures for the management 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 the funds.
　　（4）建立风险防范机制，培养风险防范意识。不可抗逆事件是客观的，不以人的意识为转移的，X企业所在的大型的机械设备行业风险尤为突出，由于项目的投入很大，一旦发生不可控制的事件，很可能就直接影响到企业的生存发展。因此，实现资金事前计划、事中控制、事后分析的全天候控制体系是极为重要的。形成资金报表的管理制度，及时将企业资金情况上报企业管理层，定期对资金的现在及未来做预测分析；指定一系列的应急措施，应对突发事件；形成细分反馈意见制度，及时总结经验教训。
(4) establish risk prevention mechanism, foster risk awareness. An art event is objective, not with the consciousness of the people as the shift, X enterprise risks are particularly acute in the large machinery and equipment industry, as a result of the project investment is very big, once the uncontrollable events, may directly affect the enterprise's survival and development. Therefore, funds plan in advance, matter controls, afterwards analyses the all-weather control system is extremely important. Forming capital report management system, timely report will enterprise capital management, forecast analysis for money now and in the future to do on a regular basis; Specify a series of emergency measures to respond to emergencies; Formation breakdown f