财务管理类外文文献

财务管理类外文文献
财务管理类外文文献

China Problems and

Countermeasures

Abstract:due to their own national policies and corporate aspects of Financial Management of SMEs in the main fund-raising channels exist narrow and seriously underfunded, the operator awareness of weak financial management, corporate Financial Accounting system is not perfect

and so on. In order to better play the role of SMEs, the author recommends that the state has adopted relevant policies, expand financing channels, strict financial management, strengthening of external supervision, the introduction of the ranks of professional managers and other measures to improve the management level of SMEs.

Keywords: small and medium enterprises; financial management; problems; countermeasure

In December 2005, the National Development and Reform Commission issued the "SME

Growth Project" report on the work that small and medium enterprises in China now has 4 240 million, accounting for 99.6% of enterprises, SMEs accounted for sales of total sales of all enterprises 58.9%, the value of final goods and services accounted for 58% of the national GDP, tax revenue accounts for about 48% of patents account for 66% of patents, new products

accounted for 82% of all new products to address the urban employment accounted for a net

increase of employment of 75%. However, the output of small-scale, lower capital and technology, as well as the traditional structure and composition of external macro-economics, the impact on SMEs, making the status of the Financial Management of SMEs in China is not optimistic. Strengthen the Financial Management of SMEs imminent.

First, define the criteria for SMEs

Promulgated in 2002, "SME Promotion Law of The People's Republic of China" (hereinafter

referred to as the "SME Promotion Law") that: small and medium enterprises is established by Law in the PRC, that are conducive to meet the social needs, increasing employment, in line with the national industrial policy, small and medium-scale production and operation of various ownership and various forms of business. SME definition of what is available from both theoretical and practical aspects to consider:

(A) Theoretical standard

Theory to define standards for SMEs should be based on competitive benchmark. The

competitiveness of enterprises can be divided into resources, ability to obtain, using three levels of

ability and Development capabilities. Three levels of ability to contribute to the competitiveness of

the weight should be in ascending order.

(B) standards of practice

Standards of practice by policy-level criteria were divided into macro-policy and sectoral

policy standards. The former is to define standards for small and medium enterprises, which is the classification criteria for SMEs. In practice, SMEs need to define the standard reference of choice, the choice of indicators and targets set three aspects of settlement; and sectoral policies in the formulation of sectoral policies should be characterized by pairs of small and medium enterprises to classify and selection, classification and Selection criteria is ultimately based on corporate status quo, policy objectives and requirements to determine.

Second, the status quo of financial management for SMEs

In recent years, China has been rapid Development of SMEs. But there are a considerable

number of SMEs in the pursuit of sales and market share alone, ignoring the central position of financial management, management, rigid thinking behind the enterprise financial management

and the role of risk control has not been fully utilized. Due to changes in the macroEconomic environment and institutional impact of SMEs in strengthening financial management of the obstacles encountered. For example, the policy "discrimination" so that SMEs and large enterprises can not be a fair competition; local government intervention in industry, management's goal of making short-term financial management of SMEs; financial management by the impact of the business is too large, and so.

In addition, a number of small and medium enterprises in China's financial system is not

perfect, the accounting bodies and positions set up confusion, accounting personnel undocumented induction; enterprises, accounts are confusing, property is not real, data distortion, etc. are common occurrences. Hazards of these issues early in the enterprise business is not yet clear, once the access to capital, large-scale operations, they are the influence will be gradually expanded and eventually would lead them towards a recession and declining.

3, SME Analysis of the problems of financial management

(A) lack of national policy support

National policy support mainly refers to all levels of government policy support, national legal support, financial support. First, the lack of policy and legal support. Over the years, our government's policy regimes tend to large enterprises, especially state-owned enterprises or listed companies at the expense of the SME support policies. The legal provisions relating to small and medium enterprises are scattered throughout a number of legal norms, and is mainly focused on

the management of government business, and few pairs of small and medium enterprises to

protect the weak status of requirements. Second, financing, taxation, land use, preferential policies have also tended to large enterprises. The total number of SMEs and the country's total industrial output value is the corresponding total number of the vast majority, but the size of loans accounted for a small country in the proportion of the total credit. Small and medium enterprises more taxes, repeated charges and taxes of arbitrary large, some government departments to small and medium enterprises, as assessed various cost objects.

(B) a serious shortage of funds

Fund-raising channels narrow, lack of funds has always been a serious impediment to the development of SMEs in China. Production is small and difficult to create economies of scale; backward management, business risk, short-term behavior is prevalent; repayment credibility is low, credit risks. For these reasons a direct impact on corporate finance.

(C ) weak financial management awareness

On the one hand, a considerable number of the private nature of the small and medium

enterprises, investors set the ownership and management rights in a conducting financial activities and deal with a variety of Economic relations that with the wishes of the individual owner with a clear tendency to arbitrariness; the other hand, a certain Some operators tend to focus too technical, light management, and re-sale, light manage their money, that the enterprise benefits by the business development, not "tube" out of the neglect of the financial management of the production and operation activities of the guiding role. Enterprise managers a weak awareness of financial management has constrained the healthy development of SMEs.

(D) The enterprise's financial system is not perfect

Enterprise Financial Management environment, including the external environment and

internal environment for two aspects. Construction of the external environment mainly depends on the formulation of government policy and related institutional support, while the internal environment of the building depends mainly on the enterprise's own system of building. SMEs in building their financial system, the main issue for the accounting system is not perfect embodiment. Most SMEs lack of complete internal accounting system, not only in the original certificate records management, quota management, measurement management, and acceptance no system to

speak of, but also in the accounting department functions and powers, accountants of personal responsibility, accounts processing system, within the containment system, audit system, it is also chaotic.

(5) Enterprise Asset Management chaotic

1. Cash management chaos. Most SMEs do not prepare cash plan, often cash-strapped or

idle phenomenon; low level of credit management, the lack of a strict credit policy of the immediate payment, deferred payments, extended payment there is no specific incentives and disincentives; the lack of strong collection of measures, resulting in more bad debts, affecting sales and profits increased, hindering the flow of funds rate.

2. Accounts receivable inadequate control. As the supply fierce competition among

enterprises, commodity oversupply of small and medium enterprises in order to avoid their products have been eliminated to take delivery Loaning sales methods, resulting in high accounts receivable, thereby increasing the number of bad debts .

3. Inventory control is weak, the phenomenon of the proliferation of financial slack. Most enterprises materials procurement and product sales of cash transactions; corporate finance staff free to withdraw cash for long periods of settlement; enterprise's cash income and expenses are not recorded and so on, resulting in sluggish capital.

4. Fixed asset management chaos. Purchase of fixed assets are recorded or not registered in

time for failing to obtain an invoice can not be accounted for; unclear because of the original records, the purchase of fixed assets can not be taken according to the existing accounting system, which requires classification depreciation; scrapped, destroyed fixed assets without the required clean-up, resulting in account a range of issues and reality.

(6) Investment poor

Poor Investment capacity of SMEs mainly as follows: 1. SMEs, lack of Investment funds

required. The main sources of finance for SMEs as banks and other financial institutions, but they are to attract financial institutions, investment or borrowing more difficult. Even if banks agreed to

lend to SMEs, but also because of the high risk raising lending rates, thus increasing the cost of financing for SMEs. 2. The pursuit of short-term goals. Because of its small size, the proportion of loans to invest in higher than large enterprises are facing greater risk, so they focus on return on investment, but neglected the expansion of the scale of its own. 3. Investment there is blindness, it is difficult to grasp in the right direction. Reposted elsewhere in the paper for free download Fourth, the financial management of SMEs on the specific ways

(A) strengthen the Government's introduction of relevant policies

Compared with large enterprises, SMEs, financial management clearly at a disadvantage,

China's relevant government departments should strengthen the SMEs introduction of legislation

and related policies, protect the healthy growth of small and medium enterprises, to play its due role. According to incomplete statistics, in the legal person in the country's industrial enterprises, small enterprises accounted for more than 95% of small businesses the value of final goods and services account for the proportion of gross domestic product, nearly 50%. Therefore, the recent years the government has also been concerned about the small and medium enterprises. For example, in 2002, the Government promulgated the "SME Promotion Law"; in April 2004, the Government promulgated "small business accounting system", and in January 1, 2005 in full swing. Although China has not yet issued comprehensive policies and regulations on accounting by SMEs, but with the role of SMEs increasingly clear that in order for the creation and development of small businesses to create a more healthy environment, I believe the Government in this regard will make a greater effort. Therefore, the majority of small and medium enterprises faced with a very good development opportunities.

(Ii) strengthening the financing capacity of

Financing channels for SMEs narrow a direct impact on the quality of financial management has

also become a bottleneck restricting the development of SMEs. SME managers and small-scale,

poor to withstand market risks should be based on the characteristics of their own as far as possible put the money into the recovery period is short, relatively low risk projects, improve the efficiency of using funds to effectively broaden the financing channels for enterprises.

1. Properly diversify investment risks, optimize the capital structure, to improve their

financing ability. SMEs must be reasonable arrangements for the capital structure, increasing the premise of internal capital accumulation, moderate debt in order to meet the needs of business investment.

2. Formulate a scientific and reasonable financial strategic decision to reduce investment

risks, reduce the randomness and blindness in the decision-making and improve corporate

financial management. When the firm's capital accumulation to a certain size could be considered after the moderate diversification, decentralization of funds to invest and reduce investment risks. In addition, the project investment process to grasp the normative, scientific forecasting investment projects, and to ensure that the time value of money and risk return balance.

3. Banks may be small and medium enterprises inventory and receivables as collateral, or to

small and medium sized Technology companies to enjoy patent rights as collateral security in support of SME financing, allowing qualified companies to issue bonds for the participation of SMEs in the bond market provide an opportunity. "SME Promotion Law," which made the relevant provisions. For example, the PBC should strengthen support for small and medium financial institutions, to encourage commercial banks to adjust their credit structure, increase credit support for small and medium enterprises.

(C ) Strict financial control

Weaknesses in financial control for the enterprise problem, the majority of small and medium enterprises from the following aspects:

1. Corporate functional departments should fully recognize the importance of funding, efforts

to improve the efficiency of the use of funds. First of all, the efficiency with which the source of funds and used. Secondly, the accurate prediction of funds and pay back time. For example, the purchase of time and recovery time of accounts receivable effective combination. "SME Promotion Law" stipulates that: "the central budget should be set up SME subjects, arrange special funds to support the development of SMEs. Local governments should be based on actual conditions to

provide financial support for SMEs."

2. Establish a sound internal control system. SMEs should increase the property

management and property records, transparency, financial management, records, inspection,

audit should be accountable. In this way, you can ensure that the constraints within the enterprise, enhance the security of enterprise information, promote the healthy development of enterprises. 3. Strengthening the inventory and accounts receivable management. Compressed as much

as possible obsolete inventory resources, to avoid financial slack to ensure that the best structure for stock funds. For example, Dell, Haier and other large companies have largely succeeded in zero inventory standards. Company shall promptly credit the customer's credit Research assessed regularly check the amount of accounts receivable, and strictly control aging. For bad debts, bad debts to obtain conclusive evidence, the proper accounting treatment.

4. Regulate finance staff employed to improve the quality of financial personnel. Enterprises should be based on "Accounting Law", the accounting system and other regulatory requirements, employing accounting personnel with the qualifications to avoid the internal corporate managers who hire to ensure that the normal accounting. In addition, the professional training of finance staff should strengthen the spirit of financial officers, finance staff to enhance the legal awareness and monitoring of awareness, strengthening the accounting team building.

(D) the strengthening of external supervision and

At present, the small and medium enterprises to standardize the accounting constraints on

their own is unrealistic and should make more use of external supervision, to help SMEs to achieve standardization of accounting. China's accounting supervision of national supervision, social supervision and internal supervision of the trinity of the supervision system, in which the first two belong to external oversight. State supervision by the finance, taxation, banking, business, the securities regulatory departments under the supervision of the implementation of relevant laws and regulations; social supervision Zeyi fiscal intermediaries as the main, by its acceptance of others entrusted to the relevant units of the accounting audit, capital verification and so on. If the

course of their practice, I found the process of SMEs, accounting does not comply with the relevant laws, regulations, and should be promptly reported to the financial, taxation and other authorities, for their strictly dealt with.

(E) the introduction of the ranks of professional managers

SMEs should abandon the "family" management philosophy, learn from advanced

management Experience of large enterprises, bold, and actively introducing professional

managers and other high-quality management talent, improve the quality of business

management and improve operational management level. Join the WTO, China's financial markets, product markets have undergone significant changes, financial management, in many ways to add

new content, such as risk management, tax management, insurance and management. At the

same time, the diversification of financial services, international financial management also provides a large selection space. "SME Promotion Law" also stressed: "The state encourages the relevant agencies, universities and business management training for SMEs in areas such as production technology, enhancing SME marketing, management and technical level." Thus,

knowledge-based small and medium enterprises and personnel The accumulation is very

necessary.

【References】key

[1] Xu Tao. SME financial management problems and countermeasures [J]. Accounting Research, 2007.

[2] Fu Zhuo. China's SMEs financial management model [D]. Xiamen University, 2001, (09).

[3] Wang Lei. For SMEs financial management thinking [J]. Commercial modernization, 2007, (06) (bottom).

[4] Qin Shaoqing. To resolve the plight of SMEs to financial management thinking [J]. Accountancy Friends, 2007, (02) (middle).

[5] Hui-ping. On the financial management of SMEs in China Problems and countermeasures [J]. Commercial modernization, 2007, (07) (bottom).

[6] their lives hung. On the financial management of SMEs, the problems and countermeasures [J]. Strait of Science, 2007, (02).

[7] Ministry of Finance. .2004 Small business accounting system.

[8] National People's Congress Standing Committee. The People's Republic of China Small Enterprise Promotion Law of .2002.

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理工学院毕业设计(论文)外文资料翻译 专业:财务管理 姓名: xxxx 学号: xxxx 外文出处: The University Journal of (用外文写) Business Vol. 3, No. 4 附件: 1.外文资料翻译译文;2.外文原文。

附件1:外文资料翻译译文 财务报表分析 A.财务比率 我们需要使用财务比率来分析财务报表,比较财务报表的分析方法不能真正有效的得出想要的结果,除非采取的是研究在报表中项目与项目之间关系的形式。例如,只是知道史密斯公司在一个特定的日期中拥有10000美元的现金余额,对我们是没有多大价值的。但是,假如我们知道,这种余额在这种平衡中有4%的流动负债,而一年前的现金余额有25%的流动负债。由于银行家对公司通常要求现金余额保持在银行信用度的20%,不管使用或不使用,如果公司的财务状况出现问题,我们可以立即发现。 我们可以对比比较财务报表中的项目,作出如下结论: 1. 项目之间的资产负债表比较: a)在资产负债表中的一个日期之间的比较,例如项目,现金与流动负债相比; b)同一项目在资产负债表中一个日期与另一个日期之间的比较,例如,现在的现金与一年前比较; c)比较两个项目之间在资产负债表中一个日期和一个相似比率在资产负债表中的另一个日期的比率,例如,现在现金流动负债的比率与另一个项目一年前的相似比率和已经标记的现金状况趋势的比较。 2.项目报表中收入和支出的比较: a)一定时期中的报表项目的比较; b)同一项目在报表中现阶段与上个阶段的比较; c)报表中项目之间的比率与去年相似比率的比较; 3.资产负债表中的项目与报表中收入和支出项目的比较: a)在这些报表项目之间的一个给定的时间内,例如,今年净利润可能以百分比计算今年净值; b)两个报表中项目之间的比率在这几年时间的比较,例如,净利润的比率占今年净值的百分比与去年或者前年的相似比率的比较 如果我们采用上述比较或比率,然后依次比较它们,我们的比较分析结果将获得重要意义:

财务报表分析的外文文献

毕业设计(论文)外文资料翻译 系别。.。.。。.。。. 管理信息系 专业财务管理 班级 姓名 学号 外文出处http://ishare.iask.sina.com.cn/f/22323844.html?from=like 附件1。原文;2。译文 2012年3月

1.原文 Financial statementanalysis— theuse of fina ncial accounting information 。 Manyyears.Reasonable minimumcurrent ratio was co nfirmedas 2。00。Until themid-1960s, the typical enterprisewill flowratio control at2.00 or higher。Since then,many companies thecurrentratiobelow 2.00 now, manycompanies can notcontrol the currentratioover2。00。This shows th at the liquidity of many companieson the decline. In theanalysis of an enterprise’sliquidity ratio,it i snecessary toaveragecurrent ratio withthe industry to compare.In some industries,the currentratio below2。0is considerednormal,but someindustrycurrent ratio must bebig2.00。In general,the shorterthe operatingcycle,the low er the current ratio:thelonger the operating cycle,thehigher thecurrent ratio. The current ratio comparedto thesame enterprise indifferent periods,and comparedwith the industry average,will helpto dryto determine the highor low current rati o.Thiscomparisondoesnot explain why or whylow.We

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