Improving Enterprise Competitiveness From Financial Direction

< p > 1. The function of accounts receivable < /p >
< p > the function of accounts receivable is its function in the process of production and operation. There are mainly aspects: < /p >
< p > 1, expand sales, increase the competitiveness of enterprises. Credit sale is an important way to promote sales in a more competitive market. Credit sales actually provide two transactions to customers: selling products to customers and providing funds to customers in a limited period. On the condition of tight money, weak market and lack of funds, credit sale has obvious promotional effect, which is of great significance for enterprises to sell new products and develop new markets. < /p >
< p > 2, reduce inventory, reduce inventory risk and management expenses. If an enterprise owns finished goods inventory, it will increase the expenses of management fees, warehousing fees and insurance premiums. On the contrary, enterprises do not need the above expenses to hold accounts receivable. Therefore, when the finished product inventory is large, it is generally possible to use more favorable credit terms for credit sale, convert inventory into accounts receivable, reduce finished goods inventory, and save related expenses. < /p >
< p > two, the disadvantages of bad management of accounts receivable < /p >
< p > 1, reducing the efficiency of capital utilization and reducing the efficiency of enterprises. Because the logistics and capital flow of enterprises are not consistent, the issue of goods, the sales invoice, the goods can not be recovered at the same time, and sales have been set up, this kind of account receivable sales without cash withdrawal, is bound to generate no cash inflow of sales business profits and losses, sales tax paid and the annual income tax prepaid, if the annual sales income related to accounts receivable, it can generate corporate liquidity assets advance shareholders annual dividends. As a result of the above pursuit of surface benefits, the dividends paid by the enterprises and the dividends paid by the advancing shareholders occupy a large amount of working capital. As a result, the turnover of enterprises' funds will inevitably be affected for a long time, which will lead to the fact that the actual situation of the enterprises is being concealed, and that the production plans and sales plans of the enterprises will not be able to achieve the established benefit targets. < /p >
< p > 2, exaggerating the results of business operation. Since the bookkeeping basis of Chinese enterprises is accrual basis (receivable and payable), the current credit sales are recorded in the current income. Therefore, the increase in corporate profits does not mean that cash inflows can be achieved as scheduled. The accounting system requires enterprises to prepare bad debts according to the percentage of accounts receivable balance, and the bad debt reserve rate is generally 3%-5% (except for special enterprises). If the actual loss of bad debts exceeds the provision for bad debts, it will cause great losses to the enterprises. Therefore, a large number of corporate receivables exist, which inflated the sales revenue on the books, to a certain extent, exaggerated the business results of enterprises, and increased the risk cost of enterprises. < /p >
< p > 3, which accelerated the cash outflow of enterprises. Although credit sale can make enterprises generate more profits, but it does not really increase the cash inflow of enterprises, instead, enterprises have to use limited liquidity to pay various taxes and fees, and accelerate the cash outflow of enterprises. The main performance is: < /p >
< p > (1) expenditure on enterprise turnover tax. Receivables bring sales revenue, not actually received cash, turnover tax is calculated on the basis of sales, enterprises must pay cash in time. The turnover tax such as < a href= "//www.sjfzxm.com/pioneer/" > value added tax < /a > business tax, consumption tax, resource tax and urban construction tax will surely increase with the increase of sales revenue. < /p >
< p > (2) income tax expenditure. The accounts receivable generate profit, but it is not realized in cash, and the income tax must be paid in cash on time. < /p >
< p > (3) there is also such a problem in the distribution of cash profits. In addition, the management cost of accounts receivable and the recovery cost of accounts receivable will accelerate the cash outflow of enterprises. < /p >
< p > 4, which has an impact on the business cycle of an enterprise. The business cycle is the period from the acquisition of inventory to the sale of inventory and the recovery of cash. The length of the business cycle depends on the number of days of inventory turnover and the turnover days of accounts receivable, and the business cycle is the sum of the two. From this we can see that the existence of unreasonable accounts receivable prolongs the business cycle, affects the capital circulation of enterprises, and causes a large amount of liquidity to be deposited in non productive links, resulting in the shortage of cash in enterprises, affecting the payment of wages and the purchase of raw materials, which seriously affects the normal production and operation of enterprises. < /p >
< p > 5, which increases the error probability in the management of accounts receivable and brings extra losses to enterprises. Enterprises face complex accounts receivable, accounting for < /p >.
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< p > error is difficult to detect in time, and it can not keep abreast of the dynamic status of receivables and the details of the receivable enterprises. The responsibility is not clear. The loss and loss of the accounts, contracts, commitments, approval procedures and other information of accounts receivable may cause the accounts receivable receivable of enterprises to be collected on time. They can not be recovered on time. Only part of the recovery is recovered, which can be recovered by legal means, but it can not be recovered due to incomplete information, until the loss of the assets of the enterprise is finally formed. < /p >
< p > three, the goal of accounts receivable management is < /p >
< p > for an enterprise, the existence of accounts receivable itself is a unity of production and marketing. On the one hand, enterprises want to rely on it to promote sales, expand sales revenue and enhance competitiveness. At the same time, they want to avoid the drawbacks of capital turnover and bad debt losses brought to enterprises because of the existence of accounts receivable. How to deal with and solve this problem is the goal of the management of accounts receivable. < /p >
< p > the goal of accounts receivable management is to develop a scientific and reasonable credit policy for accounts receivable, and to weigh the sales profits added to such credit policies and the cost expected by such policies. This credit policy can be implemented and implemented only if the increased sales profit exceeds the cost added to this policy. At the same time, accounts receivable management also includes the forecast and judgement of the future sales prospects and market conditions of enterprises, and the investigation of the security of accounts receivable. If a company has a good sales prospect and a high security of accounts receivable, it can further relax its credit policy, expand credit sales and gain more profits. On the contrary, it should strictly enforce its credit policy, or make appropriate adjustments to the credit level of different customers, so as to ensure that the maximum loss can be reduced to the lowest point. < /p >
< p > the key point of enterprise accounts receivable management is to formulate reasonable credit policies for enterprises according to the actual operation of enterprises and the credibility of their customers. This is an important part of financial management of enterprises, and is also a rational policy for enterprises to achieve the purpose of accounts receivable management. < /p >
< p > four, the solution to the problem of company accounts receivable < /p >
< p > accounts receivable management work well done, we should first establish a sound account receivable management system. Credit policy is the main component of accounts receivable management system, including three aspects: credit standard, credit condition and account collection policy. Credit standard is the basic requirement for enterprises to agree to provide business credit to users. The expected bad debt loss rate is usually used as the criterion. If the credit standards of enterprises are stricter, only credit sales to users with good reputation and low debt loss rate will reduce the loss of bad debts and reduce the opportunity cost of accounts receivable, but this may not be conducive to the expansion of sales volume or even the reduction of sales volume. Conversely, if the credit standard is paid, though it will increase sales, it will increase the loss of bad debts and the opportunity cost of accounts receivable accordingly. Credit terms refer to the conditions required by an enterprise to pay customers credit, including credit period, discount period and cash discount. The credit term is the maximum payment time prescribed by the enterprise for the user. The discount period is the payment time that can be enjoyed by the user for cash discount. The cash discount is the privilege that the user fixed in advance. Offering more favorable credit terms can increase sales, but it will also bring additional burden such as accounts receivable opportunity cost, bad debt cost, cash discount cost and so on. The debt collection policy refers to the debt collection strategy adopted by the enterprise when the credit condition is violated. If a company adopts a more active debt collection policy, it may reduce receivables less than a href= "http://cailiao.sjfzxm.com/" > cost < /a >, reduce the loss of bad debts, but increase the cost of account collection. If a more passive accounting policy is adopted, it may increase the cost of accounts receivable and increase the loss of bad debts, but it will reduce the collection cost. When formulating the debt collection policy, we should weigh the gains and losses between increasing the cost of collection and reducing the opportunity cost of accounts receivable and the loss of bad debts. A reasonable credit policy should combine credit standards, credit terms and debt collection policies, considering the impact of the three changes on sales volume, accounts receivable opportunity cost, bad debt cost and account receivable cost. < /p >
< p > according to the accounts receivable management system, we should take corresponding measures to solve the problems found in the accounts receivable analysis of enterprises, solve the problems arising from the accounts receivable recovery, speed up the company's capital circulation, improve the efficiency of capital utilization, and achieve the goal of enterprise's efficiency. < /p >
< p > 1, strengthen the daily management of accounts receivable < /p >
< p > the company has not done enough in the daily management of accounts receivable, for example, the analysis of users' credit status, the compilation of age analysis tables, etc. Specifically, the daily management of accounts receivable can be done from the following aspects: do a good job of basic records and understand users (package < /p >
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The timely basis of payment, including the credit condition provided by the enterprise to the user, the date of establishing the credit relationship, the time of user payment, the current amount of arrears and the change of customer credit grade, etc., so that the enterprise can only take corresponding countermeasures in time when it has only mastered the information, and so on, P. Check whether the user breaks through the credit limit. Every credit sale business provided by an enterprise must check whether there is a record of exceeding the credit period, and pay attention to checking whether the total amount owed by the user has broken through the credit limit. (3) grasp the debt that the user has passed the credit period, closely monitor the dynamic change of the user's due debts, so as to take timely measures to contact the users to remind them to pay as soon as possible. Analysis of accounts receivable turnover and average receivables period, to see whether liquidity is at a normal level, enterprises can use this indicator to evaluate the performance and deficiencies of accounts receivable management and to amend credit terms compared with previous actual plans and the same industry. Examine the status of the protest and examine the percentage of the receivables dishonored, that is, the rate of bad debt loss, in order to decide whether the enterprise credit policy should be changed. For example, if the actual bad debt loss rate is greater than or lower than the expected loss rate, the enterprise must see whether the credit standard is too strict or too loose, so as to amend the credit standard. The age table of accounts receivable should be worked out to check the actual occupancy days of accounts receivable. The supervision of enterprises' recovery can be carried out through the establishment of the aging analysis table. According to this understanding, how much of the debt is still in the credit period, it should be monitored in time, how much of the arrears have exceeded the credit period, and the percentage of the amount of overtime payments is calculated. < /p >
< p > 2, strengthen the ex post management of accounts receivable < /p >
< p > collection management includes the following two parts: determining a reasonable collection procedure, and the procedures for collecting accounts are generally: letter notification, telegraph, telegram, fax, collection, interview, and legal action. Before taking legal action, we should consider the principle of < a href= "http://zs.sjfzxm.com/" > cost-effectiveness < /a >. In the following cases, there is no need to Sue: litigation costs exceed debt claims; customer collateral discounts can cancel debts; customers' debts are not large; prosecution may damage the operation of enterprises; the possibility of recovering accounts after prosecution is limited. Determine reasonable debt collection methods. If the client does encounter temporary difficulties, he can make a comeback through his efforts and help the company to tide over the difficulties so as to recover the accounts. The general practice is to restructure the accounts receivable debt: accepting the non monetary assets that the debtors are paying at the market price below the amount of debts, and compensating the debts for the "long-term receivables", determining a reasonable interest rate, allowing the users to formulate the installment plan, modifying the debt conditions, extending the payment period, or even reducing the principal amount, and encouraging the repayment thereof. Under the driving force of common economic interests, the creditor's rights are transformed into "long-term investments" for the users, which helps to start the loss making enterprises and achieve the purpose of recovering the funds. If the client has reached the limit of bankruptcy, he should bring a lawsuit to the court in time, so as to get partial liquidation in bankruptcy. In view of the arrears of arrears, the alternative methods are: reasoning method, sympathy method, fatigue tactics, aggressive method, soft and hard method. < /p >
< p > 3, accounts receivable accounting method and management system < /p >
< p > accounts receivable account accounts for 60.42% of the total amount owed by the neutron company. Strengthening financial management and monitoring within the company, improving accounts receivable accounting methods and management system, and solving the problem of accounts recovery between the company and its subsidiaries, the following are some suggestions from several aspects: strengthening the management and monitoring functional departments, according to the principle of internal restraint in financial management. The company set up a financial monitoring team under the Ministry of finance. The chief financial officer is responsible for configuring full-time accountants, responsible for the accounting and monitoring of marketing transactions, analyzing and calculating each account receivable, ensuring the accounts receivable account is consistent, and standardizing the operation and operation procedures, so as to standardize and systematize the business activities. Improving internal accounting methods. For different sales operations, such as direct sales operations of companies and merchandisers, sales operations of offices and sales outlets, sales transactions between company supply departments and trading companies, and company's cash transfer units, product returns are separately shown by different accounting methods and procedures, and corresponding management measures are adopted. The system of lifelong responsibility and the first responsible person should be applied to accounts receivable. Those who handle bad debts will be held accountable whether or not the responsible person is transferred from the company. At the same time, the responsibilities of the relevant personnel are clearly defined and evaluated as the basis for performance summary. Regular or irregular marketing supervision and internal audit of marketing outlets. Prevention of misappropriation, corruption and capital extracorporeal circulation caused by lax management will reduce risks. Establish and improve the internal monitoring system of the company's organization. < /p >