財務(wù)管理系統(tǒng)外文翻譯-在線瀏覽
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【正文】 ive financial control. Objectives This section is intended to help you put in place that financial control: to ensure that you are estimating costs accurately and then keeping them under control。 and to ensure that you can collect money owed to you and can pay your bills as they fall due. Its objectives are: ? to demonstrate how effective financial control assists in the management of the anisation in which you work。 and, ? to suggest financial indicators for inclusion in your strategic objectives. 1 Achieving Control Good financial results will not arise by happy accident! They will arise by realistic planning and tight control over expenses. Remember that profit is the paratively small difference between two large numbers: sales and costs. A relatively small change in either costs or sales, therefore, has a disproportionate effect on profit. You must watch your costs/prices and margins very carefully at all times since small changes in any of these areas can lead to substantial changes in profit. Control can then be exercised by paring actual performance with budget. To do this, you will need to produce: ? a financial plan, agreed as being achievable by all concerned。 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。 ? the VAT inspectors will need them。 ? potential suppliers may require them。 ? you will need to identify areas of possible concern。 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 among those remaining, so necessitating increased sales of those products. There are four possible levels of financial responsibility with appropriate targets and control requirements: ? revenue centre staff only have responsibility for ine (eg a sales department in a store). Staff have sales targets against which ine is measured and pared。
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