【正文】 ot cash or form the dull account. Three is very many privately operated enterprises end of the month the goods in stock takes the fund often to surpass its turnover above two times, creates the fund delay turnover to malfunction. Four is many privately operated enterprises superintendents, to management and so on raw material, halffinished product, fixed asset did not arrive, leaves question nobody to investigate, the property waste was serious. Above analyzes the reason, most importantly because the enterprise upper formation leadership financial control idea is backward, lacks the scientific nature, the untrue understanding financial control to does in the thought greatly makes the role which the strong enterprise plays, has not bought into line with the financial control the business management in the effective mechanism, lacks the modern financial control idea, caused the financial control to lose it the status and the function which should have in the business management, took a step difficultly. 3 、Management pattern boundary, manages the idea obsoletely, causes the financial control to be dark . Because receives the old financial system since long ago in the thought the restraint, business management personnel39。s idea parison lag. The main question includes: One is at the same time enterprise39。 s investor is the operator. Two is the enterprise superintendent39。s management ability and the management quality bad, manages the thought to be backward. Analyzes its reason mainly is: The privately operated enterprise model management pattern is the property rights and the operating right highly unifies, at the same time enterprise39。s investors is the operator, this kind of pattern inevitably will give the enterprise the financial control to bring the negative influence, in the privately operated enterprise quite a part will belong to the individual too perate privately the nature, in these enterprises, enterprise leader centralization phenomenon serious, and will lack the understanding and the research to the financial control theory method which will be supposed to have, will cause its responsibility not to divide, exceeds authority to handle affairs, creates the financial control chaotic, the finance will supervise the nucleus not to be lax, accountant the personnel alone boat difficult line, to think the standard management will be very difficult. The majority of enterprises not or are unable to establish the interior auditing department, even if has, also is very difficult to guarantee the internal audit the independence. Moreover, some enterprises have not bought into line with the financial control the business management in the effective mechanism, lacks the modern financial control idea, the most private enterpreneurs not yet establish such as scientific management the and so on time value, risk value, marginal cost, opportunity cost concept, as a result of the management pattern boundary, manages the idea obsoletely, causes the financial control to be dark , however , has lost it the status and the function which should have in the business management.4 、There are at least five reasons why market risk measurement is important:(1) Management information. Provides senior management with information on the risk exposure taken by traders. This risk exposure can then be pared to the capital resources of the FI. Sush an information system appears to have been lacking in the Barings failure.(2) Setting limits. Measures the market risk of traders’ portfolios, which will allow the establishment of economically logical position limits per trader in each area of trading, which may allow the identification of areas with the greatest potential return per unit of risk into which more capital and resources can be directed.(3) Resource allocation. Compares returns to market risks in different areas of trading, which may allow the identification of areas with the greatest potential return per unit of risk into which more capital and resources can be directed.(4) Performance evaluation. Relatedly, calculates the returnrisk ratio traders, which may allow amore rational bonus system to be put in place. That is, those traders with the highest returns may simply be the ones who have taken the greatest risks. It is not clear that they should receive higher pensation than traders with lower returns and lower risk.(5) Regulation. With the BIS and Federal Reserve proposing to regulate market risk through capital requirements(discussed later in this chapter), private sectorbenchmarks are important if it is felt that regulators are overpricing some risks. These private sector models can then be used to point to potential misallocations of resources as a result of prudential regulation.大家知道，企業(yè)管理包括生產(chǎn)管理、營(yíng)銷(xiāo)管理和財(cái)務(wù)管理等多個(gè)方面，而財(cái)務(wù)管理是企業(yè)整個(gè)管理體系的核心，企業(yè)的財(cái)務(wù)管理目標(biāo)即是企業(yè)追求的目標(biāo)。可見(jiàn)，只有以財(cái)務(wù)管理為中心，協(xié)調(diào)運(yùn)作管理體系的各個(gè)方面，才能有效地強(qiáng)化企業(yè)管理，促進(jìn)企業(yè)發(fā)展。從全國(guó)來(lái)說(shuō)，民營(yíng)企業(yè)數(shù)量眾多、分布廣泛、特點(diǎn)各異，再加上受宏觀經(jīng)濟(jì)環(huán)境化和體制影響，民營(yíng)企業(yè)在加強(qiáng)財(cái)務(wù)管理方面遇到了一定的阻力，例如：政策的“歧視”使民營(yíng)企業(yè)和大型企業(yè)不能公平競(jìng)爭(zhēng)，地方政府、行業(yè)管理部門(mén)的干預(yù)，使民營(yíng)企業(yè)的財(cái)務(wù)管理目標(biāo)短期化，再主要的就是民營(yíng)企業(yè)財(cái)務(wù)管理受業(yè)主的影響過(guò)大等一些主觀因素的存在，導(dǎo)致財(cái)務(wù)管理的重要性被忽視。所以，其財(cái)務(wù)管理中存在的問(wèn)題也多種多樣，我認(rèn)為，目前普遍存在的問(wèn)題和原因主要有： 融資困難，周轉(zhuǎn)資金不足，使財(cái)務(wù)管理成斷源之湖。 目前，我國(guó)民營(yíng)企業(yè)初步建立了較為獨(dú)立、渠道多元的融資體系，但是，融資難、擔(dān)保難，仍然是制約民營(yíng)企業(yè)發(fā)展的最突出的問(wèn)題，主要問(wèn)題是：第一，負(fù)債過(guò)多，融資成本高，風(fēng)險(xiǎn)大，造成民營(yíng)企業(yè)信用等級(jí)低，資信相對(duì)較差。第二，大多數(shù)民營(yíng)企業(yè)是非大型企業(yè)，有些銀行受傳統(tǒng)觀念和行政干預(yù)的影響，對(duì)其貸款不夠熱心。第三，中介機(jī)構(gòu)不健全，缺乏專(zhuān)門(mén)為民營(yíng)企業(yè)貸款服務(wù)的金融中介機(jī)構(gòu)和貸款擔(dān)保機(jī)構(gòu)。 分析其主要原因表現(xiàn)在兩個(gè)方面：一是金融業(yè)對(duì)民營(yíng)企業(yè)的信貸支持不夠。我國(guó)金融系統(tǒng)從設(shè)置到服務(wù)項(xiàng)目，大都是以大企業(yè)為服務(wù)對(duì)象，民營(yíng)企業(yè)的信貸服務(wù)往往被忽視。由于貸款難，生產(chǎn)經(jīng)營(yíng)過(guò)程中所需資金不足，極大制約了民營(yíng)企業(yè)的發(fā)展。有的民營(yíng)企業(yè)，雖存在暫時(shí)困難，但銀行一旦支持就能起死回生；二是民營(yíng)企業(yè)的融資渠道單一，難以適應(yīng)市場(chǎng)需求的變化。由于有的民營(yíng)企業(yè)，在既得不到銀行的貸款支持，又不具有自我融資或向社會(huì)公開(kāi)融資能力，無(wú)形中，加強(qiáng)企業(yè)財(cái)務(wù)管理也就成了一句空話(huà)，財(cái)務(wù)管理也就成了斷源之湖。 財(cái)務(wù)控制薄弱，缺乏科學(xué)性，使財(cái)務(wù)管理舉步艱難。 大部分民營(yíng)企業(yè)存在財(cái)務(wù)控制環(huán)節(jié)薄弱，而且對(duì)加強(qiáng)財(cái)務(wù)管理方面不夠重視，沒(méi)有從真正意義上理解財(cái)務(wù)管理在企業(yè)中的地位。主要問(wèn)題有：一是資金管理不嚴(yán)，財(cái)務(wù)控制薄弱，造成資金閑置或不足。二是應(yīng)收賬款周轉(zhuǎn)緩慢，造成資金回收困難。三是存貨控制薄弱，造成資金呆滯。四是重錢(qián)輕物，資產(chǎn)流失嚴(yán)重。 分析其原因主要是：一是有些民營(yíng)企業(yè)認(rèn)為現(xiàn)金越多越好，致使大量現(xiàn)金未參加周轉(zhuǎn)，有的是資金缺少計(jì)劃安排，過(guò)量購(gòu)置不動(dòng)產(chǎn)，而使企業(yè)無(wú)法應(yīng)付經(jīng)營(yíng)急需的資金，陷入財(cái)務(wù)困境。二是沒(méi)有建立嚴(yán)格的賒銷(xiāo)政策，缺乏有力的摧收措施，應(yīng)收款不能兌現(xiàn)或形成呆賬。三是很多民營(yíng)企業(yè)月末存貨占用資金往往超過(guò)其營(yíng)業(yè)額的兩倍以上，造成資金呆滯周轉(zhuǎn)失靈。四是不少民營(yíng)企業(yè)管理者，對(duì)原材料、半成品、固定資產(chǎn)等管理不到位，出了問(wèn)題無(wú)人追究，資產(chǎn)浪費(fèi)嚴(yán)重。分析以上原因，最重要的是因?yàn)槠髽I(yè)上層領(lǐng)導(dǎo)財(cái)務(wù)管理觀念落后，缺乏科學(xué)性，在思想上沒(méi)有真正理解財(cái)務(wù)管理對(duì)做