財(cái)務(wù)管理系統(tǒng)外文翻譯(存儲(chǔ)版)
【正文】 02100706093 姓 名 王曉婷 指導(dǎo)教師 甘 平 2021 年 4 月 13 日 A Financial Control System that Focuses on Improvement and Success Of course, we are not saying that businesses should ignore prudent controls over their cash drawer. The point is that focusing on small ponents while not knowing how much cash is tied up in receivables does not represent a control system that recognizes priorities and risk. Focusing solely on the rote and mundane does little to improve your overall financial performance. Financial control systems shouldn’t just be about pliance, they should be about continually improving key aspects of the financial operation such as: ? Regularly reviewing and improving the overall capital structure. ? Using a capital plan to minimize the cost of capital while strengthening the Debt/Equity position. ? Managing working capital so excessive inventories and receivables do not sap financial resources. ? Ensuring proper calculations and scenarios are explored while making debt/investment or leasing decisions. ? Maximizing returns while minimizing costs for cash and merchant accounts. A control system of welldefined processes is not only about control or pliance, it is also about consistently striving to do a little better. Control systems that are designed only to achieve pliance are doing the bare minimum, and they represent a missed opportunity to gain improvement and a petitive edge. And that should be enough reason for any size and type of pany to think about using a continual improving process approach to creating a financial internal control system. Sox is nice。 the human aspect of control is, therefore, important. Why keep records? Accurate record keeping is required if you are to be effective in monitoring performance against budget. Other reasons why you will need to keep accurate records are: ? there is a legal obligation to do so。 ie, how much cash is in the business or the budget? How much do you owe? How much is owed to you? How big is the overdraft (or overspend)? How long could bills be paid for if cash stopped flowing in? What is the profit margin? Financial control will be poor if there are no clear objectives and a lack of knowledge of the basic information necessary to run a business or department successfully. A lack of appreciation of the cash needs for a given rate of activity and a tendency to assume that poor results stem from economic conditions or even bad luck will only exacerbate the situation. Accounting centres One way of delegating financial responsibility is to set up a system of accounting centres. Where businesses make a range of products, putting each into a different accounting centre makes it easier to determine which of the products are profitable. Some costs (eg factory rent) are more difficult to allocate, so may be recorded in a holding account and then split between products. Indirect costs could be allocated by the proportion of sales represented by each product (by volume or cost), by proportion of machine time used, or by some other appropriate method. This split will give an indication of the profitability of each product, but you should beware of ceasing sales of a particular product because of low profit or loss the costs currently charged to that accounting centre would have to be redistributed a
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