First, there are problems in the financial management of small and medium-sized enterprises, lacking clear industrial development direction and scientific demonstration of project investment. First, one-sided pursuit of "hot" industries, regardless of objective conditions and their own capabilities, ignoring the impact of national macro-control on enterprise development, thinking that any industry can do well. Some enterprises even unilaterally think that what the state stipulates should be done and will definitely make money. Second, there is a lack of scientific planning and deployment of the investment scale, capital structure, construction period and source of funds of the project, and a lack of reliable prediction of the cash flow that will occur during the construction and operation of the project, so it is hastily launched. Once the state strengthens macro-control and tightens bank credit, so that the construction funds cannot be put in place as scheduled, enterprises will face a dilemma and even cause huge economic losses. In recent years, due to financial difficulties, many enterprises have invested in projects such as steel, electrolytic aluminum and cement, or "cut meat" for sale or become permanent "projects under construction". Not only have the enterprises paid a heavy price, but some banks have also been dragged into the quagmire.
2. Financial risk awareness is weak, and enterprises always operate in high-risk areas. This is manifested in three aspects: First, excessive debt. It is inevitable for enterprises to develop and operate in debt and make full use of financial leverage. However, regardless of cost and repayment ability, some enterprises try their best to get loans from banks. Some enterprises don't even understand the most obvious truth of "borrowing money to pay back money". They think that getting a loan from a bank means making a profit. They only consider how to get the loan, but don't seriously consider how to make the limited funds work, let alone how to repay them. In the case that the borrowed funds can't play an effective role, some enterprises have entered a vicious circle of relying on loans to survive. As a result, the debt is high and the financial risk is high. The second is short-term debt and long-term investment. Under the strong macro-control conditions of the country, it is difficult for enterprises to obtain fixed assets loans. Some enterprises take flexible measures to change the purpose of loans without authorization, and use short-term loans for long-term project investment with long payback period, resulting in current liabilities far higher than current assets, which makes enterprises face a huge potential payment crisis; Third, enterprises guarantee each other, repeatedly mortgage the same assets, or constantly invest in new projects for financing, or even "rob Peter to pay Paul", forming a complex debt chain. This not only makes it more difficult for banks to judge the financial situation of enterprises, but also brings great difficulties to financial supervision, resulting in an increase in the overall debt ratio of enterprises, an increase in operating costs and financial expenses, an increasingly fragile ability to pay, and a tight capital chain that may break at any time.
3. Weak financial control. First, lax cash management leads to idle or insufficient funds. Some enterprises think that the more cash, the better, resulting in idle cash and not participating in production turnover; Second, there is no strict credit sales policy, lack of effective collection measures, accounts receivable can not be cashed or form bad debts, accounts receivable turnover is slow, and it is difficult to recover funds. Third, the inventory control is weak, resulting in sluggish funds. Many enterprises often occupy more than several times of their turnover in inventory at the end of the month, resulting in sluggish funds and ineffective turnover. Fourth, money is more important than weight, and the loss of assets is serious. Many managers of small and medium-sized enterprises have poor management of raw materials, semi-finished products, finished products and fixed assets, and their financial management responsibilities are unclear, resulting in serious waste of assets.
4. Financial accounting workflow is not standardized and rigorous. First, the original vouchers, accounting entries, subject application, account book setting and financial revenue and expenditure are not standardized, and no strict system has been formed; Second, the preparation of accounting statements can neither fully reflect the actual production and operation of enterprises, nor fully meet the requirements of relevant national laws and regulations, resulting in distortion of accounting information. There is no strict quota management and sound analysis and accounting system for the consumption of materials, working hours and power; Third, the enterprise does not have or cannot establish an internal audit department. Even if there is, it is difficult to guarantee the independence of internal audit and lack the necessary financial supervision mechanism.
Second, the reason analysis
Many small and medium-sized enterprises in China have developed in the gap between planned economy and market economy, and have experienced a difficult development process of "from scratch, from small to large" In the arduous process of starting a business, due to the constraints of the institutional environment at that time and the inherent defects of enterprises, the success of enterprises is mostly closely related to the personal courage, experience and entrepreneurial spirit of entrepreneurs. Therefore, in the future development, it will inevitably be influenced by the innate environment and its own growth path. Specifically, the influence of these factors on financial management is mainly manifested in the following aspects: the influence of ownership structure and business model. Generally speaking, the ownership structure of small and medium-sized enterprises is highly concentrated. In the business model, ownership and management rights are integrated, and investors of enterprises are also operators. This model has brought a lot of negative influence to the financial management of enterprises. Among small and medium-sized enterprises, a considerable part belong to individual and private enterprises. In these enterprises, the phenomenon of centralized leadership and family management is serious, the project decision-making is unscientific, undemocratic and arbitrary, and personal decision-making prevails, which will inevitably lead to investment decision-making mistakes.
2. The influence of enterprise managers' quality and management ability. Most of the existing small and medium-sized enterprises developed under the condition of economic shortage in the 1980s. A considerable number of managers' quality and ability are still at the level at that time, with outdated management concepts and backward management ideas. They did not bring financial management into the overall consideration and effective mechanism of enterprise management, and lacked modern financial management concepts, which made financial management lose its due position and role in enterprise management.
3. The influence of organizational structure and human resources. First, the organizational structure of enterprises is not perfect, and the responsibilities of managers are not clear. Second, the workflow is not standardized and the system is not perfect. As a result, financial approval is arbitrary and ultra vires is serious, resulting in financial management confusion; Third, the quality of financial managers is low, lacking the basic theory and knowledge of financial management, and at the same time, the concept of legal system is relatively weak, and they lack full understanding and understanding of financial accounting laws and regulations.
Third, the countermeasures to improve the financial management of small and medium-sized enterprises actively promote the reform of property rights. Clarifying property rights and establishing a standardized enterprise property rights system are the institutional and organizational basis for the sustainable development of enterprises. Therefore, it is necessary to reform the property right system after the development of small and medium-sized enterprises to a certain stage. By standardizing the property right reform, firstly, the situation of excessive concentration of ownership is solved, and a diversified property right structure is formed to prevent "one share is dominant"; The second is to establish modern corporate governance structures such as shareholders' meeting, board of directors, board of supervisors and managers. On the basis of establishing a new property right structure, establish an organizational structure and decision-making mechanism suitable for the modern enterprise system, and build a system and organizational foundation for good financial management.
2. Operators must establish the concept of financial management. Under the condition of modern market economy, from the perspective of financial management, operators must establish three concepts: first, establish the concept of specialized management and avoid diversified investment risks. Small and medium-sized enterprises are small in scale, relatively weak in strength, limited in enterprise resources and limited in knowledge and ability of leaders. In addition, modern science and technology progress rapidly, and the technology update cycle is short. In this case, small and medium-sized enterprises must concentrate limited resources and strive to be solid, refined and strong in a certain industry, which is the foundation of enterprises and the basis of financial management. Second, establish the concept of financial risk. It is a good wish of many operators to make full use of the positive role of financial leverage. However, the positive role of financial leverage is based on the premise that the income of borrowed funds is higher than the cost of capital and the repayment ability of enterprises. Every enterprise has a reasonable debt ratio, that is, banks, and also requires a certain capital adequacy ratio. The debt ratio is too high, which is desperate. In addition, China's economy is cyclical. Once standardized, many banks only accept loans. Even companies with normal debts can hardly survive. This is especially true for enterprises with large debt scale and high debt ratio. Therefore, debt management must fully consider the repayment ability of enterprises and the efficiency of the use of funds to avoid the risk of high debt and failure to pay when due. Third, establish the concept of cash flow. Cash flow is the "blood" to maintain the normal operation of enterprises. Net cash flow is the driving force of enterprise growth. For many enterprises, the significance of net cash flow is even higher than operating profit and loss. Many enterprises are busy all the year round, doing a lot of business and making a lot of money, but in the hands of others, a large piece of cash of the enterprise is occupied by customers. The net cash flow from operating activities is negative, and there is no actual cash income. Therefore, paying attention to cash flow and grasping the situation and trend of cash flow, including its ability to create cash in business and the efficiency of using short-term working capital loans, are the basic information that enterprise managers must grasp at any time and are the important basis for decision-making.
3, in accordance with the requirements of relevant accounting laws and regulations, and gradually establish a more standardized, perfect and self-disciplined financial management organization system, workflow and financial management system. In accordance with the inherent laws of enterprise financial management and the requirements of relevant national laws and regulations, establish an organizational system and corresponding working institutions for financial management, clarify management positions and personnel responsibilities under the principle of division of labor and cooperation, and strictly implement the workflow and approval procedures for financial management; At the same time, according to the national laws and regulations, combined with the weak links in the financial management of this enterprise, formulate management systems such as financial planning, fund raising, asset management, cost management, labor and employment, salary and profit distribution, and earnestly implement them.
4. Improve the quality of accountants. Accounting personnel should be certified, without accounting qualification certificate, after training, examination, certification after meeting the requirements; Personnel assigned to accounting leadership positions must have corresponding post qualifications and may not abuse power for personal gain; Accountants should receive regular professional ethics and technical education to improve their quality, which is clearly stipulated in the accounting law. Making good use of talents is an important condition for implementing good financial management.
5. Outsourcing of financial fund management activities. Due to the limitation of enterprise's own resources and activities, it is impossible for any enterprise to have all the professional skills and resources needed for enterprise management activities. Small and medium-sized enterprises can entrust some financial management business to professional institutions for management. Making full use of the advantages of talents, information and other resources of these institutions can not only reduce the financial management cost of enterprises, but also keep abreast of external related trends and update management methods and means in real time, thus improving management efficiency and water management level.