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1, the application of financial performance method in the group Abstract: From the perspective of the parent company of the group, this paper selects three first-level indicators and 12 second-level indicators and designs the corresponding scoring methods and reward and punishment principles. By constructing the financial performance evaluation system of group companies, we can accurately reflect the financial status, operating conditions and cash flow problems of subsidiaries, and the evaluation results should be compared with the expected indicators to ensure the fairness and justice of the assessment to the greatest extent.

Keywords: group company; Performance evaluation; financial target

The performance evaluation of group companies should consider the operating financial indicators from the overall perspective, and the financial department is responsible for the overall financial strategy of the group and the performance evaluation and assessment of each subsidiary. The financial department of a subsidiary is independent of other departments and is not an overseas branch of the parent company. However, it is supervised by the superior company in business and reports relevant performance to the parent company on schedule. The performance appraisal system should be formulated according to the post, the nature of the work and the contribution to the group and its branches. The evaluation results should also be compared with the expected indicators to ensure the fairness and justice of the assessment to the greatest extent.

First, the evaluation index design

The group company has formulated assessment standards, including three first-class indicators: business assessment indicators, financial control indicators and functional performance indicators, among which business assessment indicators include: operating income, cost profit and accounts receivable payment; Financial control indicators include: budget completion effect, accounting information quality, asset management and contract management; Functional performance indicators include: project decision-making ability and democratic evaluation. 1. Business evaluation indicator Operating income = main business income+other business income. Note that non-operating income is not included, in order to eliminate uncontrolled situations. Calculate and analyze costs and profits according to the income statement. Payback period of accounts receivable = (payback period of accounts receivable this year/operating income this year) × 100%2. The budget completion effect of financial control indicators takes into account the proportional relationship between the income and profit actually completed by molecular companies and the budgeted income and profit. The quality of accounting information is audited by the audit department of the Group. Asset management is the responsibility of the Asset Group of the Finance Department of the Group Company, which regularly supervises and guides the asset management of the molecular company. The Commercial Department of Contract Management Group shall inspect the contract management of subsidiaries. 3. Functional performance indicator Project decision-making ability = (number of successful projects/total investment projects of subsidiaries) × 100% Democratic evaluation is divided into group evaluation, middle-level evaluation and employee evaluation.

Second, the evaluation method design

1. Scoring method In the scoring process, ten secondary indicators are given different weights at first, with a full score of 100. See table 1 for the specific weight. Then add and subtract items according to the standard starting points of each index, and finally calculate the final score of performance appraisal to evaluate the financial performance of each subsidiary. 2. The reward and punishment standard uses the calculated final score of performance appraisal to judge the financial performance of the molecular company. The management team of a molecular company with a comprehensive score of less than 60 points should consider adjustment, which can be carried out by adjusting the team members and financial leaders. The management team with 60~80 points can continue to complete the business plan and financial work of the molecular company in the second year, but it can also make small adjustments to key positions. A management team with a score of 80 or above indicates that the overall operation is in good condition, and we should make persistent efforts in the second year.

Performance appraisal scores can also be linked to performance awards. If the comprehensive score is less than or equal to 80 points, the part of the management team performance award linked to business performance will all sink; If the comprehensive score is more than 80 points and less than 90 points, the part of the management team performance award linked to business performance should be fully cashed; If the comprehensive score is above 90 points and below 95 points, members of the management team are encouraged to get 50% performance reward in addition to normal performance reward; If the comprehensive score is greater than 95 points, members of the management team should be encouraged to get a 100% performance reward in addition to the normal performance reward.

Author: Guo Unit: Department of Industrial Engineering, School of Management, Shenyang University of Technology

References:

[1] Yang Jingchun. Construction and Practice of Group Financial Management and Control System Based on Total Budget Management [J]. Enterprise Herald, 20 15( 1).

[2] Yang Huijie. Research on the Problems and Countermeasures of Financial Control in Enterprise Groups [J]. Finance, 20 15(2).

[3] Li Hong, Zhu Huajian, Min Xu. The reference of financial control of American enterprise groups to enterprise management [J]. China Commerce, 20 13( 1 1).

[4] Zhang Yanhong. Research on Financial Control of Group Control [J]. Accounting of Chinese Township Enterprises, 20 15(3).

2, financial management and performance management model paper 1, the role of financial management and performance management

Financial management decides and controls the financial activities of enterprises, and the goal of financial management is to maximize the interests of enterprises. There are many factors that affect finance in financial management, including economic system environment, economic structure environment, fiscal and tax environment, financial environment and legal environment. Due to the influence of these factors, financial personnel should have certain concepts such as time value of money, risk-benefit balance, cost-benefit and so on in financial management. Improve the management level and work efficiency of enterprises through various financial management activities, and at the same time play a role in the economic benefits of enterprises. Performance management is a process in which managers and employees participate together to achieve enterprise goals. In the process of achieving enterprise goals, managers undertake the mission of increasing employees' enthusiasm and initiative in order to complete their work performance. Through performance management, we can see the performance of employees' hard work in the enterprise organization, thus realizing the benefits of the enterprise. Performance management closely links the strategic objectives of enterprises with individual performance objectives, so that the objectives of employees and enterprises are consistent. Reasonable performance management can be established on the basis of fairness and justice to achieve more pay for more work, combined with the reward and punishment system of enterprises, such as training, promotion, salary and so on. , fully mobilize the enthusiasm of employees and give play to the efficiency of individuals in the organization. Through performance management, it is beneficial to the scientific and reasonable decision-making of human resource management.

Second, the function and role of financial management in performance management

Performance management includes the formulation of enterprise goals, the implementation of performance management, performance evaluation and improvement. These links are closely related to financial management, which also plays an important role in performance management.

(1) Financial management plays an important role in determining performance management objectives and designing indicators. The overall goal and phased goal of the enterprise are refined and transformed into the goals of various departments and employees. Because the overall strategic goal and stage goal of an enterprise have certain financial goals when they are established, in this process, the financial management department helps the overall financial goal of the enterprise to be transformed into the performance goals of various departments or individuals. The establishment of performance management objectives and indicators allows employees to understand the influence and function of their own labor on the company, and also allows employees to know what state they want to achieve in order to achieve the performance goals set by the company. While designing performance indicators, financial management is assessed by calculating various quantitative indicators with the help of finance. Through the cooperation of financial management and human resource performance management, the assessment indicators are objective and feasible, so as to carry out the follow-up work of performance management smoothly.

(2) Financial management plays an important role in the supervision of performance management, which is not only the management of results, but also the management of processes. In order to ensure the smooth completion of performance objectives, it is necessary for human resources departments to supervise the implementation and completion progress of performance objectives at all stages during the implementation process, and make reasonable guidance and improvement according to the actual situation of supervision and inspection. Performance objectives are specific financial quantitative indicators, and performance departments need the participation of financial departments to monitor the progress. The financial department calculates the financial status and flow of employees, such as income and expenses, and converts them into performance indicators to realize real-time monitoring of performance objectives. Without the participation of the financial department, it is difficult to understand and master the real-time progress of performance goals, which is not conducive to the rational decision-making adjustment of business leaders. Therefore, financial management plays an important role in performance management supervision.

(3) Financial management plays an important role in performance appraisal. The final result of the establishment and implementation of performance management is to evaluate the progress and situation of performance goals of enterprises, organizations and individuals. There are many contents of assessment and many influencing factors. It is necessary to combine various factors of the human resources department and various performances of individuals to conduct performance appraisal, but in the final analysis, the most important assessment basis comes from various indicators provided by the financial department. Because the assessment content of the financial department is closely related to the performance target, the indicators of the financial department are the most direct embodiment of the performance target, and the financial assessment indicators are also objective and comprehensive. Compared with enterprise indicators, financial indicators are more influential and credible, and are more easily recognized by everyone. After the performance target assessment, due to the different performance completion of each department and individual, it involves rewards and punishments for departments or individuals. If rewards and punishments are set in the form of money or other physical rewards, the financial department needs to participate, because only the financial department can improve the company's financial situation and operating conditions, and only by setting a reasonable proportion of rewards and punishments according to the data provided by the financial department can the performance appraisal of the human resources department be effectively implemented.

(d) Financial management plays an important role in modifying performance targets. Due to the changeable market and social environment, there may be some discrepancy between the setting of performance goals and the actual situation, so it is necessary to adjust or modify performance goals and performance management appropriately. However, in the process of improvement, it is necessary to have a certain foundation to modify the performance objectives that are more in line with the actual situation of the company. When modifying performance plans or targets, the financial department needs to modify and improve the original planned indicators to make them improved indicators. On the other hand, while improving performance management, whether performance management is reasonable and scientific is reflected in the changes in data related to the financial department and whether performance management is reasonable. Financial management provides an important basis for the revision of performance objectives.

(V) The financial management department should actively participate in the formulation of performance management and assessment. In order to effectively implement performance management, performance indicators are indispensable support. Performance indicators are ultimately determined according to the actual development and operating conditions of enterprises, which are all measured by data, including the output value, tax revenue and operating efficiency of enterprises. These data can be provided to the financial department in charge of enterprise economy for planning. Whether it is the economic benefit, cost, development status and budget status of an enterprise, the financial department can accurately grasp it, and can also provide perfect historical financial information, which is an indispensable basis for the enterprise to formulate the performance of departments and employees. In addition, the performance management objectives of enterprises are also related to the profits of enterprises. For the financial management department that calculates enterprise profits, it can not only accurately calculate financial profits, but also understand the influence brought by various factors. Therefore, the financial department should actively participate in the whole process of performance management and keep the performance indicators consistent with the development of enterprises.

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