中小企业财务管理对策与问题外文资料翻译
毕业论文外文翻译-家族式中小企业融资存在的问题及对策外文文献翻译-中英文论文对照翻译
题目：家族式中小企业融资存在的问题及对策第一部分外文翻译原文Family SME financing problems and countermeasures1、The status of family SMEsFamily-owned SMEs in the development of our country experienced a small to large, from weak to strong in the process, along with the family business in China today the deepening of economic reform and development and growth, has gone through four stages: the first stage, From 1978 to 1987, after the December 1978 Third Plenary Session of the Party, the private sector began to sprout exploration; the second stage, from 1988 to 1991, in 1988 the state promulgated the "Provisional Regulations on private Enterprises", the private sector has been Legislative protection; the third stage, from 1992 to 1996, the spring of 1992, Comrade Deng Xiaoping's southern tour speech, encourage private sector development; the fourth stage, the 15th Party Congress in 1997 affirmed the non-public economy is an important component of the socialist market economy private enterprises to enter the stage of stable development.At present, China's family-owned SMEs in general to take the family system management mode, although this management model, although in favor of corporate governance, reducing the commission Enterprises - the agency costs, but this also increases the external transactions arising from the establishment of corporate identity costs. On the one hand our economy is in a transition period, various policies and regulations are not perfect, the community has not formed a unified identity for the family of SMEs, which makes family-owned SMEs in the market development, customer acquisition financing and other aspects in particular more difficult. On the other hand due to the absolute control of the family by the family-owned small and medium enterprises, the decision arbitrary and authoritarian strong, the error rate is large, resulting in enterprise development to a certain stage on the lack of power, it is difficult to continue to develop.2、The main problem of family exist in the process of SME financing2.1 Family ownership structure and governance structure of SMEs unreasonableOur family ownership structure of SMEs in general showing unity, closed characteristics. According to statistics, the founder of the family business enterprise investment accounted for 75% of total share capital, its holding ratio as high as 70%, while the proportion of shares held by the founder's family also accounted for 10% ofthe company's total share capital, both in the family business of Holdings the proportion of 80%, the enterprise has absolute control. This single ownership structure and the closure of many family-owned SMEs generally do not pay attention to external financing, business development and capital accumulation is still relying on its own within the family obtain financing, which limits the expansion of enterprises.2.2 The family behind SME management modeCurrently, many executives are from family-owned small and medium enterprises within the family, but also because of the family's absolute control of the enterprise, many business owners arbitrariness in decision-making, so that companies will bring tremendous business risk to the enterprise zone to instability, which will undoubtedly increase the risk of funding provided. Meanwhile, in the internal distribution ofprofits, there is no established concept of sustainable development can play, often only taking into account the short-term interests, net of corporate profits spectroscopic eat, rarely from the perspective of enterprise development, consider using retained funds to supplement operating funds, and their accumulation of weak sense.2.3 The family-owned SME financial system is not perfectAs noted in the survey, more than 50 percent of family-owned SMEs in the financial system is not perfect, and many family-owned small and medium business managers lack professional financial management knowledge, lack of major financial decision analysis to develop a reasonable and legitimate, and even prepare several sets of accounts to check payable regulatory authorities. Because most investors to corporate lending main consideration is return on investment, and ROI analysis depends mainly on the view the company's financial statements, due to the corporate financial system defects, it is difficult to provide accurate accounting information, investors are unable to find out the enterprise the true face, nature does not give business loans.3、The Solution of family financing of SMEs3.1 Family fade colors, introducing diversification of investorsFirst of all to clarify property rights, according to the contribution principle, the principle of efficiency, fairness rationalize the relationship between members of the family property, clear the nature of the enterprise, the definition of enterprise property rights, reform of property rights. Forward to the public on the basis of clear property rights on the inside, diversify their ownership by absorbing social capital, the equity isfully owned by the family into a controlling stake, the investor capital, human capital and social capital is allocated in equal shares, to increase transparency and social trust.3.2 Change management model to promote institutional innovationMany of our family-owned small and medium enterprises in the employment context nepotism, meritocratic closer. This management model is not conducive to family-owned small and medium enterprises to introduce outstanding management personnel, resulting in a lack of family-owned small and medium business decision rationality, increasing the risk offamily-owned small and medium business, reducing the level of family credit for SMEs, resulting in banks and investors unwilling to its loans and investments. In view of this, family-owned SMEs should abandon the family management, the introduction of professional managerial system, the implementation of corporate restructuring in accordance with the requirements of modern enterprise system, the introduction of outstanding management talent, improve operational efficiency and reduce operational risks. So as to raise the level of credit to enhance financing capacity. At present, the rapid development of China's many family businesses employ people outside the family as a decision-making executives, such as the United States and other countries.3.3 Cegulate corporate financial system, improve financial managementAccording to the relevant regulations of the state, the establishment of financial and accounting system sound enterprises, not cooking the books, establish and improve financial reporting system to improve the credibility and transparency of the financial situation of the financial statements. These include: 1, raise funds, and the effectiveuse of funds, supervision and funding normal operation, maintenance, financial security, boost profits. 2, establish a sound financial management system, financial revenues and expenditures do a good job planning, control, accounting, analysis and assessment work. 3, to strengthen the management of financial accounting, in order to improve the timeliness and accuracy of accounting information.In short, to be truly effective in solving the difficult problem of family SME financing, companies need to go through joint efforts of financial institutions, to create a family-owned diversified financing channels for SMEs, social credit sound socio-economic environment for the family-owned SMEs the development provides a relaxed environment for raising capital.第二部位论文译文题目：家族式中小企业融资存在的问题及对策一、家族式中小企业的现状家族式中小企业在我国的发展经历了一个由小到大、由弱变强的过程，当今中国的家族企业随着经济体制改革的不断深化而发展壮大，经历了四个阶段:第一阶段，1978～1987年，1978年12月党的十一届三中全会以后，私营企业开始萌芽探索;第二阶段，1988～1991年，1988年国家颁布了《私营企业暂行条例》，私营企业得到了立法保护;第三阶段，1992～1996年，1992年春邓小平同志南巡讲话，鼓励私营企业发展;第四阶段，1997年党的十五大肯定了非公经济是社会主义市场经济的重要组成部分，私营企业进入稳步发展阶段。
中小企业财务管理：以韩国为例外文文献翻译2014年译文哪3500字
中小企业财务管理：以韩国为例外文文献翻译2014年译文哪3500字This paper examines the financial management practices of small and medium-sized enterprises (SMEs) XXX 150 SMEs to investigate their financial management practices。
including financial planning。
financial control。
and financial n-making。
The results show that XXX in financial management。
including limited financial resources。
lack of financial expertise。
and difficulty in accessing external financing。
The study also findsthat SMEs with better financial management XXX and growth potential。
The findings XXX to the success of XXX.n:Small and medium-sized enterprises (SMEs) play a crucialrole in the economy of South Korea。
accounting for more than 99% of all businesses XXX for more than 88% of the workforce (KoreaSmall Business Institute。
2013)。
Despite their importance。
XXX in financial management。
外文文献翻译---中小型企业财务管理中存在的问题及其对策
广东工业大学华立学院本科毕业设计（论文）外文参考文献译文及原文系部会计学系专业会计学年级 08级班级名称 2008级会计（7）班学号 14010807030学生姓名吴智聪2012年 2 月 9 日目录1. 外文译文 (1)2. 外文原文 (5)中小型企业财务管理中存在的问题及其对策中小型企业在中国经济发展中发挥着重要的作用。
统计数据表明，在工商行政管理局登记在册的企业中，中小型企业占了99%，产值和利润分别占总额的60%和40%。
此外，中小型企业所提供了75％的城镇就业机会。
可见其为中国的稳定和经济繁荣作出了重要贡献。
虽然中小型企业在国民经济中占有重要地位，对中国经济发展与社会稳定具有很重大的意义。
但是，中小型企业发展的主要障碍是缺乏有效的财务管理。
本文分析了当前中小型企业财务管理中存在的问题，并就改善中小型企业财务管理提出了相应对策。
1.1 中小型企业的财务管理现状自从21世纪以来，中国的中小型企业的蓬勃发展，在经济增长和社会发展中发挥着非常重要的作用。
据财政部统计数据，直到2005年底，中小型企业总数已超过1000万，占中国企业总数的99%。
中小型企业提供了75％的城镇就业机会，工业企业的总产值、销售收入、实现的利得税和出口额分别占总数的60%、57%、40%和60%，上缴的税收已经接近了国家税收总额的一半。
中小型企业承载着超过75%的技术革新和超过65％的专利发明，他们以其灵活的经营机制和积极创新活动，为经济发展提供了增长的最根本动力。
近年来，中国中小企业的消亡率将近70%，大约有30%的中小型企业存在赤字。
中小型企业应该如何建立现代企业制度，加强财务管理，并科学地进行资本运作以谋求自身的健康发展，是我们密切关注的一个问题。
1.2 中小型企业财务管理中存在的问题⑴财务管理理念滞后，而且方法保守中小型企业由于管理者自身知识水平的限制，使得企业的管理能力和管理质量较低。
他们的管理思想已经不适合现代企业，并且大多数企业领导人缺乏财务管理的理论和方法，忽视了企业资本运作的作用。
中英文外文文献翻译中小企业财务风险管理研究
本科毕业设计（论文）中英文对照翻译(此文档为word格式,下载后您可任意修改编辑!)作者：Bernard G期刊：International Journal of Information Business and Management 第5卷，第3期，pp：41-51.原文The research of financial Risk Management in SMESBernard GINTRUDUCTIONSmall and medium sized enterprises (SME) differ from large corporations among other aspects first of all in their size. Theirimportance in the economy however is large . SME sector of India is considered as the backbone of economy contributing to 45% of the industrial output, 40% of India’s exports, employing 60 million people, create 1.3 million jobs every year and produce more than 8000 quality products for the Indian and international markets. With approximately 30 million SMEs in India, 12 million people expected to join the workforce in next 3 years and the sector growing at a rate of 8% per year, Government of India is taking different measures so as to increase their competitiveness in the international market. There are several factors that have contributed towards the growth of Indian SMEs. Few of these include; funding of SMEs by local and foreign investors, the new technology that is used in the market is assisting SMEs add considerable value to their business, various trade directories and trade portals help facilitate trade between buyer and supplier and thus reducing the barrier to trade With this huge potential, backed up by strong government support; Indian SMEs continue to post their growth stories. Despite of this strong growth, there is huge potential amongst Indian SMEs that still remains untapped. Once this untapped potential becomes the source for growth of these units, there would be no stopping to India posting a GDP higher than that of US and China and becoming the world’s economic powerhouse. RESEARCH QUESTIONRisk and economic activity are inseparable. Every business decisionand entrepreneurial act is connected with risk. This applies also to business of small and medium sized enterprises as they are also facing several and often the same risks as bigger companies. In a real business environment with market imperfections they need to manage those risks in order to secure their business continuity and add additional value by avoiding or reducing transaction costs and cost of financial distress or bankruptcy. However, risk management is a challenge for most SME. In contrast to larger companies they often lack the necessary resources, with regard to manpower, databases and specialty of knowledge to perform a standardized and structured risk management. The result is that many smaller companies do not perform sufficient analysis to identify their risk. This aspect is exacerbated due to a lack in literature about methods for risk management in SME, as stated by Henschel: The two challenging aspects with regard to risk management in SME are therefore: 1. SME differ from large corporations in many characteristics 2. The existing research lacks a focus on risk management in SME The following research question will be central to this work: 1.how can SME manage their internal financial risk? 2.Which aspects, based on their characteristics, have to be taken into account for this? 3.Which mean fulfils the requirements and can be applied to SME? LITERA TURE REVIEWIn contrast to larger corporations, in SME one of the owners is oftenpart of the management team. His intuition and experience are important for managing the company. Therefore, in small companies, the (owner-) manager is often responsible for many different tasks and important decisions. Most SME do not have the necessary resources to employ specialists on every position in the company. They focus on their core business and have generalists for the administrative functions. Behr and Guttler find that SME on average have equity ratios lower than 20%. The different characteristics of management, position on procurement and capital markets and the legal framework need to be taken into account when applying management instruments like risk management. Therefore the risk management techniques of larger corporations cannot easily be applied to SME. In practice it can therefore be observed that although SME are not facing less risks and uncertainties than large companies, their risk management differs from the practices in larger companies. The latter have the resources to employ a risk manager and a professional, structured and standardized risk management system. In contrast to that, risk management in SME differs in the degree of implementation and the techniques applied. Jonen & Simgen-Weber With regard to firm size and the use of risk management. Beyer, Hachmeister & Lampenius observe in a study from 2010 that increasing firm size among SME enhances the use of risk management. This observation matches with the opinion of nearly 10% of SME, which are of the opinion, that risk management is onlyreasonable in larger corporations. Beyer, Hachmeister & Lampenius find that most of the surveyed SME identify risks with help of statistics, checklists, creativity and scenario analyses. reveals similar findings and state that most companies rely on key figure systems for identifying and evaluating the urgency of business risks. That small firms face higher costs of hedging than larger corporations. This fact is reducing the benefits from hedging and therefore he advises to evaluate the usage of hedging for each firm individually. The lacking expertise to decide about hedges in SME is also identified by Eckbo, According to his findings, smaller companies often lack the understanding and management capacities needed to use those instruments. METHODOLOGY USE OF FINANCIAL ANAL YSIS IN SME RISK MANAGEMENT How financial analysis can be used in SME risk management? Development of financial risk overview for SME The following sections show the development of the financial risk overview. After presenting the framework, the different ratios will be discussed to finally present a selection of suitable ratios and choose appropriate comparison data. Framework for financial risk overviewThe idea is to use a set of ratios in an overview as the basis for the financial risk management.This provides even more information than the analysis of historicaldata and allows reacting fast on critical developments and managing the identified risks. However not only the internal data can be used for the risk management. In addition to that also the information available in the papers can be used. Some of them state average values for the defaulted or bankrupt companies one year prior bankruptcy -and few papers also for a longer time horizon. Those values can be used as a comparison value to evaluate the risk situation of the company. For this an appropriate set of ratios has to be chosen. The ratios, which will be included in the overview and analysis sheet, should fulfill two main requirements. First of all they should match the main financial risks of the company in order to deliver significant information and not miss an important risk factor. Secondly the ratios need to be relevant in two different ways. On the one hand they should be applicable independently of other ratios. This means that they also deliver useful information when not used in a regression, as it is applied in many of the papers. On the other hand to be appropriate to use them, the ratios need to show a different development for healthy companies than for those under financial distress. The difference between the values of the two groups should be large enough to see into which the observed company belongs. Evaluation of ratios for financial risk overview When choosing ratios from the different categories, it needs to be evaluated which ones are the most appropriate ones. For this some comparison values are needed inorder to see whether the ratios show different values and developments for the two groups of companies. The most convenient source for the comparison values are the research papers as their values are based on large samples of annual reports and by providing average values outweigh outliers in the data. Altman shows a table with the values for 8 different ratios for the five years prior bankruptcy of which he uses 5, while Porporato & Sandin use 13 ratios in their model and Ohlson bases his evaluation on 9 figures and ratios [10]. Khong, Ong & Y ap and Cerovac & Ivicic also show the difference in ratios between the two groups, however only directly before bankruptcy and not as a development over time [9]. Therefore this information is not as valuable as the others ([4][15]).In summary, the main internal financial risks in a SME should be covered by financial structure, liquidity and profitability ratios, which are the main categories of ratios applied in the research papers.Financial structureA ratio used in many of the papers is the total debt to total assets ratio, analyzing the financial structure of the company. Next to the papers of Altman, Ohlson and Porporato & Sandin also Khong, Ong & Y ap and Cerovac & Ivicic show comparison values for this ratio. Those demonstrate a huge difference in size between the bankrupt andnon-bankrupt groups.Therefore the information of total debt/total assets is more reliable and should rather be used for the overview. The other ratios analyzing the financial structure are only used in one of the papers and except for one the reference data only covers the last year before bankruptcy. Therefore a time trend cannot be detected and their relevance cannot be approved.译文中小企业财务风险管理研究博纳德引言除了其他方面，中小型企业(SME)与大型企业的不同之处首先在于他们的规模不同，但是，他们在国民经济中同样具有重要的作用。
企业财务管理研究外文文献翻译
文献出处：Bromiley P, McShane M. Enterprise Risk Management: Review, Critique, and Research Directions[J]. Long Range Planning, 2015，12（03）：61-71.原文The Research of Enterprise Financial ManagementBromiley P, McShane MAbstractEnterprise production and operation process of socialization and modernization level is continuously improved, enterprise financial management and control in the core position in the enterprise management has been gradually revealed. Practice has proved that by strengthening financial management and control is advantageous to the enterprise reasonable and effective use of funds, increasing the use of funds effect; Is advantageous to the enterprise budget, and strive to reduce costs; Easier to find the problems existing in the production and operation enterprises, reduce the economic loss; Is beneficial to improve the level of enterprise production and management, enhance the competitiveness of enterprises. Financial management is the core of enterprise management, seize the financial management, and seize the key to enterprise management.Key words: enterprise financial management; Money management;1IntroductionEnterprise financial management work of the importance of modern enterprise is a lawfully established for the purpose of profit, is engaged in the production and business operation activities of the independent accounting economic organization, its starting point and develops well is the profit. Enterprises in order to achieve the purpose of its survival and development and implementation of management of its final result to financial index to reflect, and financial management object is the enterprise of cash (or cash) and benign circulation and turnover process, so also has established the corresponding the core position of financial management in enterprise management. Enterprise production management is the process of capital movement and value-added process, management and financial management, as a kind of value form into all production and business operation activities, it is implementationmanagement means on the one hand, through the control of the enterprise production and business operation activities of each link, standardize enterprise management, on the other hand, through the scientific financial analysis, provide the basis for enterprise production and management decision-making, it is through the financial management work to make the management of enterprise production and operation have full control over the whole process.2 Related theories2.1 The fine financial managementThe fine financial management is to "fine" as the foundation, do meticulous, for every post, every business, have set up a corresponding with the work process and business norms, practices the key in implementing, and to extend the scope of financial management to unit of each area, fully exercise the financial supervision function, to make the development of financial management and service function, realize financial management no dead Angle, explore the potential value of the financial activities.As a way of modern financial management, the fine financial management is modern enterprise constantly explore the process of adapting to the market economy development, and is suitable for the market rules and the requirements of the development of enterprise financial management, efforts to promote the fine financial management, to improve enterprise financial management ability, is significant to promote enterprise development, at the same time can also keep to further reform and opening up, promote the internationalization of our country economy level unceasingly, really realize the sustainable development of economy in our country. 2.2 The enterprise value maximizationEnterprise value maximization is reasonable on the enterprise financial management, adopt the optimum financial policy, and give full consideration to the relationship between the value of money and pay, in ensuring long-term stable development of enterprises to maximize the enterprise value. The advantages of the enterprise value maximization is that it considers the paid time and risk, to overcome the short-term behavior in the pursuit of profit. Economic added value maximizationgoal refers to the enterprise by means of the reasonable financial management, take the optimization of financial policy, give full consideration to the time value of money and the relationship between risk and reward, on the basis of the guarantee enterprise long-term stable development, the pursuit of a certain period of time has created the maximization of economic value added and the ratio of the invested capital.3 Enterprise financial management statuses3.1 Status of financial management, enterprise management goal is not clearIn the past most of the companies did not improve the status of financial management to an important problem of position, just think corporate profit is good, as long as don't consider reasonable fund raising and reasonable application, regardless of the benefit maximization problem. Lead to some enterprises for the sake of short-term profit after facing the danger of collapse. And although many enterprise financial management attaches great importance to, but for the financial management target is fuzzy.3.2 The lack of a sound and effective budget management systemMany enterprises not to establish and perfect effective budget management system, enterprise management with no clear goal and direction, entirely by "follow", to advance planning and matter controls, afterwards, analyze and audit is in order to cope with the task of "above", bring a lot of enterprise financial management risk. Some companies even compiled the budget, but as a result of budget management system is not sound, or budget is the financial department shall, according to the management intention "behind closed doors", can't reach the effect of beforehand control, the so-called budget only become "decoration" or "face project".3.3 Money is messy, the use of inefficientSaving is the biggest save money, a waste of money is the biggest waste. In the currency as the medium of the market economy condition, enterprise operation must be firmly established with the concept of capital as the core, maximum limit the use efficiency of the pursuit of money. At present, the needs of the enterprise group funds centralized management and multistage corporate funds dispersed to take up its internal contradiction has become the most prominent problems in the presententerprise financial fund management investment decision-making optional the gender is big, some enterprises regardless of their own ability and the development goals, blind investment, keen to spread new stall, investments, more serious loss, compounded of already very tense capital position. Capital precipitation, takes up unreasonable, high of payment default, finished goods continued to grow, capital turnover is slow, enterprise credit and profitability decline.3.4 Distortion of accounting information, disclosure delayMany enterprises did not form a unified accounting and financial reporting system, and not build a unified financial management system, totally "free" in the group members, by financial personnel according to their own ideas to establish financial accounting and management system, lead to each member's financial information between businesses than, data and information disorder; Plus members affected by the "personal interest", insisting that the performance of rise, make the accounts receivable is high and increasing the enterprise financing costs, management costs and bad debt losses, on the other hand, the members of the enterprise financial personnel adjustment index through a variety of artificial means, cause the distortion of accounting data, report false, completely cover up the real operating conditions of the enterprise. If the enterprise can't solve the problem of distortion of accounting information in time, will lead to policy maker’s mistake, for the survival and development of the enterprise is very bad.4 The improvement of the enterprise financial management measures4.1 The financial management personnel must set up the modern financial management the new ideaThe establishment of modern enterprise system not only gives enterprise active rights, as well as the modern enterprise financial management in a rapidly changing, highly risky market economy environment. These put forward higher requirements for enterprise financial management personnel, financial personnel must be established to adapt to finance a new concept of the knowledge economy era. To strengthen information idea, in the modern society, economic information is a commodity; the accounting information is also a commodity. Any commodity value, accountinginformation has value. On the one hand, financial personnel through the rapid, accurate and comprehensive information collection, provide the basis for enterprise financing and investment decisions. Analysis of enterprise production and operation situation, on the other hand, the information provided by, become the enterprises to improve management decision-making basis, have a significant impact to the enterprise management strategy, objectively to create value for the enterprise.4.2 Led to budget as the main body, implements the comprehensive budget managementUnder the market economy system, the allocation of resources will become complicated, management function diversity, only implements the comprehensive budget management, to carry out effective control, the main work is: first, making enterprise management budget; Second, in an orderly way of budget management, including the implementation of budget tracking, analysis, evaluation and assessment; Third, fix the settlement of the monthly, quarterly and annual accounts. By budget control and avoid waste and loss, increase savings, increasing earnings and practicing economy, ensure the realization of enterprise economic benefits.4.3 Make capital use plan, optimizing the allocation of fundsEnterprise can control the amount of money at any time is limited, but the demand for money is unlimited, the enterprise should through scientific analysis of the prediction, the disposable funds raised together effectively, maintain reasonable configuration structure. Including fixed capital and liquidity structure, capital structure, reserves and production in stock funds and quick assets structure, declines at the same time, determine the structure of capital plan, and break it down to the relevant units, for minimum cost and footprint, realize the biggest capital gains. Strengthening the management of procurement funds. A merit, Zelman, choose close to purchase materials, to prevent indirect procurement, procurement blindly, compressed procurement costs, cut down the cost of purchasing, locked good capital expenditures mainstream. Strengthening the management of production capital. Enterprises should start from the implementation of economic responsibility system, in order to reduce the consumption as the breakthrough point, in order to improve thelabor productivity as the basis, focusing on compression controllable costs, reduce production costs, thereby reducing production funds utilization. Strictly control the daily cost, implement cost and expenditure, saving the prize, overruns the report; For some expenses are tough freezing method, which in a certain period of time will not be spending, promote management thrift, lavish in preventing the black sheep of his family.4.4 To actively promote the enterprise's financial and business integration of the workFinancial management is the highest level of the perfect combination of business and finance, that is, financial and business integration. Therefore, unified financial management software, computer is applied to implement financial information and business process integration, and gradually introduce, digest, development, using international advanced ERP system software, is the basic direction of the development of the enterprise internal information. Enterprises should be combined with practice, actively introduce the development use unified integration of financial and business management software, gradually realize the whole process of production and operation of information flow, logistics, capital integration and data sharing, security enterprise budget, settlement, monitoring and so on financial management work standardization, efficient. Enterprises with financial management as the center, with an emphasis on cost control, realizes the financial system and sales system, supply and production of data sharing, unified management.译文企业财务管理研究Bromiley P, McShane M.摘要企业生产经营过程社会化程度和现代化水平正不断得以提高，企业财务管理与控制在企业管理中的核心地位已逐渐显示出来。
中小企业的财务风险管理外文文献翻译2014年译文3000字
中小企业的财务风险管理外文文献翻译2014年译文3000字Financial Risk Management for Small and Medium-Sized Enterprises (SMEs)Financial risk management is an essential aspect of business management。
particularly for small and medium-sized enterprises (SMEs)。
SMEs face numerous financial risks。
including credit risk。
market risk。
liquidity risk。
and nal risk。
which can significantly impact their financial stability and growth prospects。
Therefore。
the effective management of financial risks is crucialfor SMEs to survive and thrive in today's competitive business environment.One of the primary challenges for SMEs in managing financial risks is their limited resources and expertise。
Unlike large ns。
SMEs often lack the financial resources and specialized staff to develop and implement comprehensive risk management strategies。
As a result。
中小企业财务战略选择研究中英文对照外文文献及翻译
中小企业财务战略选择研究中英文对照外文文献及翻译中小企业财务战略选择研究中英文对照外文文献及翻译中小企业财务战略选择研究中英文对照外文文献及翻译所在系管理系学生姓名 XXX专业会计学201X年6月中小企业财务战略选择研究中英文对照外文文献及翻译Small and medium-sized enterprise financial strategy choice indifferentFinancial strategic management of the significance of the development of small and medium-sized enterprises, this paper expounds the development of enterprise needs not only scientific, fine daily management, need more forward-looking strategic vision and strategic thinking;Through the analysis of the financial characteristics of small and medium-sized enterprises (smes) in different development period, discusses the enterprise should be how to choose matching financial strategy problems, for the enterprise bigger and stronger, sustainable development, provides a feasible way of thinking.With the establishment of the modern enterprise system and market economic system reform deepening, the business activities of enterprises both contain the great vitality, also lies the great crisis.Small and medium-sized enterprises how to adapt to the environment, and maintain competitive advantage not only need to strengthen the daily management of science, fine, more need to have a forward-looking strategic thought, especially the financial and strategic thinking.Enterprise financialstrategy, need to consider the enterprise external environment and internal conditions, and many other factors.Due to the small and medium-sized enterprise its own characteristics, in financial strategy can't be consistent with the practice of large enterprise, it must has its own way.Seek financial strategy for the development of small and medium-sized enterprises, make the small and medium-sized enterprise to do strongly does, sustainable development, has important practical significance for the enterprise.First, the significance of small and medium-sized enterprise financial strategy managementModern enterprise financial faces a diverse, dynamic and complicated management environment, enterprise financial management is no longer a specific methods and means of financial management, but absorbs the principle and method of strategic management, from the perspective of to adapt to the environment, use conditions, pay1中小企业财务战略选择研究中英文对照外文文献及翻译attention to the long-term problem of financial and strategic issues.In the small and medium-sized enterprises under the condition of relative lack of resources, to develop a suitable financial strategy, and at a reasonable allocation of scarce resources is particularly important.Enterprise financial strategic focus is the development direction of the future financial activities, goals, as well as a basic approach to achieve the goal and strategy, this is a financial strategy is different from other features of various kinds of strategy.Enterprise financial strategy is the overall goal of assemble, configuration, and use resources rationally, to seekbalanced and effective flow of enterprise funds, build enterprise core competitive power, finally realizes the enterprise value maximization.The several aspects of the goal is connected with each other.In the long term performance for, seek the sustainable growth of enterprise financial resources and ability, to realize the enterprise capital appreciation, and make the enterprise financial ability sustainable, rapid and healthy growth, maintain and develop the enterprise the competitive advantage.Strategic management in building enterprise core competitive power, need the support of enterprise financial management.Enterprise capital management as the important content of financial management must reflect the requirements of enterprise strategy, ensure the implementation of the strategy of its.Implement the strategy of enterprise financial management value is that it can maintain a healthy enterprise financial situation, to effectively control the financial risk of the enterprise.Second, the small and medium-sized enterprise financial characteristics analysisSuccessful financial strategy must be adapted to the enterprise financial characteristics, the development stage of conform to the enterprise overall strategy and the current and the benefits of stakeholders, the associated risks.Roughly divided into enterprise's development stage, initial, maturation and decline stages.Small and medium-sized enterprises in different stages of development presents the financial characteristics are different and should be based on the analysis of characteristics of its financial seek suitable for different development period of the small and medium-sized enterprise financial strategy.2中小企业财务战略选择研究中英文对照外文文献及翻译1)the initial financial characteristicsThe management risk of the enterprise life cycle of the initial stage is the highest, this is because the products on the market soon, a single product structure, the scale of production limited, the product cost is higher, profitability is very poor, also need to invest a lot of money for the new product development and market development, and product market whether to expand the product should be enough space for the development of is uncertain and compensation costs, core competence has not yet formed.To small businesses from the impact of the financial management activities of enterprises cash flow, operating activities and investment activities belong to the state of outflows greater than inflows, shortage of funds, cash flows is negative, it is difficult to form internal capital accumulation, financing activities is the only source of cash.This is the initial financial characteristics of the enterprise.2)mature financial characteristicsIn the beginning of small business success across, they will enter a relatively stable mature stage.In the process of enterprise tend to mature, the enterprise growth and prospect than as well as the management risk will fall;Enterprises have the product of the stability of the relatively high market share and account back continuously, has the high efficiency of capital turnover;At the same time, due to the new project, cash flow, less business net cash flow is positive, the enterprise the management activities and investment activities generally characterized by net income.Financing scale than the initial decline, and at this stage is given priority to with retained earnings and debt financing policy, a lot of debt servicing period, along with the increase of debt financing, rise to financial risk and operational riskequivalent.Dividend proportion also have improved, high cash per share net profit ratio make the dividend payment rate and payments will improve, investors return at this time more is through the dividend distribution rather than the start-up phase of the capital gains to meet.3)the recession financial characteristicsFor recession enterprises, reduce business and product death is inevitable, and the opportunity for profitable investment is very small, the purpose of business is the turning point in order to continue to make a living.To small business financial management activities of enterprises from the impact of cash flow, because the3。
中小企业的企业财务战略【外文翻译】
外文翻译原文Corporate Financial Strategy in SMEsMaterialSource:Zhe jiang Wan li University Foreign Language Database Springer LinkAuthor: Jaroslau PaulCompany strategy expresses a basic idea of how to reach company objectives.A whole range of models of strategic management are used in practice. The financial strategy plays an important role in corporate strategy. The paper develops a methodology of strategic model implementing into the category of micro, small and medium-sized enterprises (SMEs).Furthermore, the methodology recommends procedures while solving an up-to-date worldwide task of the definition of thefinancial strategy.I. INTRODUCTIONThis paper has been prepared for a Czech engineering company. The company was incorporated six years ago. Its customers are international legal entities. None of the customers has more than a seven percent share in the turnover of the company for reasons of risk distribution.II. PROBLEM SOLVEDThe company has no strategic financial management, and its turnover is decreasing. The definition of the financial strategy should help the company to improve its position within the market. The company intends to invest into suitable properties to secure its expansion. In order to do so it is essential to prepare financial strategy that would verify objectivity of the specific investment.III. THEORETICAL CONCEPTS USEDProfessional literature shows many various concepts,approaches and attitudes to strategic management [1]-[12].The inability to define one single concept of strategic management which would be ideal for all strategic decisions is based primarily on the fact that decisions are usually non-recurring, and what’s more they are often badly structured, and therefore they do not allow the evaluation of all relevant information.The basic strategic management conception applied in thepaper was that by Miloslav Ke kovsky and Old ich Vykypěl[5], based on the existence of a hierarchical system of mutually connected strategies. This clearly structures the complex issue of strategy formation. Theconcept defines basic terms, types and limitations ofindividual strategies and strategic levels, and outlines methodology for a specific type of enterprise including several specific examples. This fulfils the aspect of practicality of the concept.The definition of the financial strategy runs from top to bottom so that the superior level determines the basic strategic objectives for its subordinate levels. The subordinate levels then develop objectives into particular details on their level. This also secures feedback from bottom to top and verifies the objectivity of the strategic objectives determined on superior levels.IV. DEFINITION OF THE FINANCIAL STRATEGYThe main company objective listed for the field of finance supports the selected corporate expansion and differentiation strategies. The external company environment must be analysed using SLEPT analysis with its outputs of potential threats and opportunities which might influence decisions about the defined financial strategy. To evaluate competitive advantages of the company in the financial field, we will use modified.Porter analysis of the company field environment,which is commonly used to define corporate-business strategies. Processing Porter analysis for the need of financial strategy will be specifically focused on the identification of strategic measures which, after its application in the financial field, will improve the position of the company in this field.The importance, power and effect of the relevant factors of the environment identified in this chapter will be arranged and evaluated. ETOP (Environmental Threat and Opportunity Profile) will be used to process the results. Tab. II defines power of the individual stakeholders.The proposed strategy must accommodate the interests and needs of company owners, management and customers as much as possible. The annual dividend growth is a positive signal for the investors. Later, when deciding about accepting the financial strategy, these stakeholders can be more easily persuaded that the proposed strategy is in their interest.In the internal analysis we will identify and analyse those financial components that will be subsequently included in the content framework of the proposed financial strategy.All relevant factors which were identified during the previous analysis will now be arranged according to their impact. In order to make a rational conclusion basedon the analysis, we will have to carry out synthesis of the most important factors in a final SWOT table considering the fact that some of the factors have similar consequences, and some are less important within the group than factors with the same effects. The result will not be overwhelmed by too many factors with similar effects or less importance than several dominant factors. Too many factors also make it more difficult to propose measures which would improve the situation in the company.Defined objectives will be focused on the more distant future, and cover the time horizon of 5-10 years. Each objective will be defined in consideration of the superior strategy and the results of SWOT analysis, e.g. which strong points/opportunities are used and which weak points/threats are eliminated. At the same time it is important to state the provision of each of the defined objectives (financial budget,personnel provision etc.), and each objective must be allocated a person accountable for the fulfilment of the objective, and a person checking the fulfilment.SWOT analysis defines the strong and weak points, threats and opportunities which include all outcomes of the previous analysis. When drawing up the proposal part all analytical outcomes and definitions of the financial strategy were used so that strong company points and its potential opportunities were used whilst the weak points and actors representing future threats for the company were eliminated.V. IMPLEMENTATION PROCESSThe proposed solution will help the company to implement its objectives in the field of financial strategy.The implementation process can be divided into two parts.The first, managerial part is based on the abilities of the implementation manager and his/her vision, company activation and support of the prepared proposals. The second,administrative part is based on the abilities of the company to adopt and further develop the started process. The Implementation Manager will be the Company Manager, the Implementation Sponsor will be the Finance Manager and the Implementation Agent will be individual Heads of Departments and their subordinates will become the Implementation Target.The control mechanism is an integral part of the implementation process of the strategy and it aims to achieve optimal results for the available resources within thecompany.VI. CONCLUSIONThe proposed solution will help the company achieve itsobjectives in the financial strategy field with respect to the objectives determined by the corporatestrategy.译文中小企业的企业财务战略资料来源:浙江万里学院外文数据库Springer Link作者：Jaroslau Paul公司战略表达了对如何达到公司目标的基本思路。
中小企业财务管理对策与问题外文资料翻译
附件1：外文资料翻译译文财务管理问题研究在市场经济中，管理是决定企业生存和发展的重要性。
近年来，由于意识形态偏见在认识和历史原因，许多的内部财务管理制度不健全给财务管理带来混乱的客观理由，导致一些缺乏内部监督机制、发生假帐或者账户外设的帐户直接导致的混乱及财务管理效率低下的企业。
这是来自经验的证明。
因此，加强财务管理，建立健全内部财务管理制度已经成为企业不可或缺的条件。
首先，企业应当建立健全内部财务管理制度。
(一)建立内部财务管理系统是为适应社会主义市场经济体制的客观要求，企业在市场竞争中生存、发展，就必须遵循市场经济的要求规范金融行为；必须按照市场经济的要求融资、经费使用和利益分配，提高生产和操作，提高企业的经济效益，从而增强自己的竞争力以实现经济增长，改变公司经营方式以适应市场经济的客观要求。
(二)建立健全内部财务管理系统是企业管理的内在要求1、财务管理是企业管理的基础，是一切企业管理活动的中心环节。
内部财务管理公司的资金管理活动与形式的价值，主要基于成本管理和资金管理为中心，通过一种价值管理为物理形式的管理。
因此，财务管理是企业管理活动的基础，是企业管理的中心环节。
2、财务管理在各方面的生产经营和整个过程，根据它的意义，我们可以总结四大要素的财务管理，包括筹资管理、投资管理、营运资本管理、利润分配管理。
(三)财务管理和企业管理有广泛的联系在商务活动、财务管理的触角延伸到每一个角落，每一个部门的业务将获得服务的资金通过使用接触到金融部门，每个部门应合理使用资金，为了省钱，所以接受部门的指导，受金融系统的约束，以确保提高企业经济效益。
(四)公司财务管理迅速体现公司的生产工作。
所有生产及企业经营活动都最终反映在其财务结果通过会计、分析、比较，你可以检查实施企业生产经营活动的方式，发现问题，找出解决问题的办法。
在特定的财务结果反映的数目和情况的权威。
在商业管理，无论是否适当的决策水平的技术，生产和销售是平稳的，并且能从财务指标迅速反映。
中小企业财务管理外文翻译文献
文献信息：文献标题：Strengths and Weaknesses among Malaysian SMEs: Financial Management Perspectives（马来西亚中小企业的优势和劣势：财务管理视角）国外作者：Norasikin Salikin，Norailis Ab Wahab，Izlawanie Muhammad 文献出处：《Procedia - Social and Behavioral Sciences》,2014, 129:334-340字数统计：英文1918单词，10677字符；中文3291汉字外文文献：Strengths and Weaknesses among Malaysian SMEs:Financial Management PerspectivesAbstract In Malaysia, 97.3% of business establishments are comprised of small and medium enterprises (SMEs) which account for about 52.7% of total employment that is generated in the country. Malaysian government through the Ministry of International Trade and Industry (MITI) and its agencies works hard on assisting SMEs through various activities to promote exposures on prudent financial management. This paper aims to identify the financial strengths and weaknesses face by SMEs in helping those entities to plan appropriate financial management programme. Semi- structured interviews were conducted among thirty five SMEs that are willing to participate voluntarily. This study found that capital is the key elements in both strengths and weakness among SMEs. Running the business without any external capital (loan) reducing the financial risk of the business. It will be easier for the managers to make business decisions without any constraint as there is no limitation set by fund provider. The study also revealed capital insufficiency is the crucial problems among SMEs which might due to the difficulties to obtain external fund. Although the results should be taken with caution, nevertheless financialmanagement is vital in order to face new business challenges as well as for the survival of the business in the future.Keywords: Small Medium Enterprises; SMEs; Financial Management1.IntroductionSmall and medium enterprises (SMEs) play important roles in Malaysian economy. Report of Malaysia Economic Census 2011 showed that there were 645,136 SMEs operating in Malaysia, representing 97.3 per cent of total business establishments. Furthermore, SMEs employed about 3.7 million out of a total of 7.0 million workers amounting 52.7 per cent of total employment in the country. With a total share of gross output reached 28.5 per cent in year 2011 as compared to only22.2 per cent in year 2000 it shows that the roles are getting significant.A considerable amount of literature has been published on the management issues of SMEs. On the other hand only few studies were focusing on the financial management, especially in developing countries although it has been known that, financial management plays crucial function in business management. Report on case study conducted by Bank Negara Malaysia (2003) on SMEs, suggested that one of the key elements SMEs should adopt to survive for a long term, in a global environment is prudent financial management. It will ensure that all the available business resources are used efficiently and effectively to provide optimum return (SME Corporation Malaysia, 2011).The aim of this paper is to identify the strengths and weaknesses face by Malaysian SMEs in term of financial management.2.SMEs Definition in MalaysiaThere is no solid meaning of SMEs as different countries are using different definition due to several demographic factors and characteristics including size, location, structure, age, number of employees, sales volume, ownership through innovation and technology (Zeinalnezhad et. al, 2011). Based on employees number and total turnover, Malaysia adopts slightly similar definition as being use by UnitedKingdom, United States of America, Japan, China and Korea (Norailis, 2013).Previously Malaysian SMEs were defined as firms with sales turnover not exceeding RM25 million or employment not exceeding 150 workers for manufacturing and sales turnover not exceeding RM5 million or employment not exceeding 50 workers for services and other sectors. As the economy has change and the business trends are moving abroad. On 11th July 2013, Malaysian Prime Minister Datuk Seri Najib Tun Razak announced the new criteria of SMEs which will be effective on 1st January 2014. Table 1 shows the new classification of SMEs.The new definition is more comprehensive, covering all sectors of the economy including construction, as well as mining and quarrying sectors. It is expected to result in more firms being classified as SMEs to 98.5 per cent (currently: 97.3 per cent), particularly from the services sector to facilitate the country’s transformation to a high income nation through the initiatives under the SME Masterplan. In year 2013, a total of 155 programmes have been planned for the implementation with a financial commitment of RM18.4 billion, expecting to benefit 467,838 SMEs.With all the facilities provided by the government, SMEs should grab these opportunities to expand the businesses. However, the managers need to be equipped with latest knowledge and management skills to successfully manage their businesses in current business environment and stiff competition (Mohd. Amy Azhar, Harizal, & Hoe, 2010). In view of the fact that many entrepreneurs in Malaysia manage their business themselves without formal education background it lead to various management problems (Mohd Amy Azhar et al., 2010). One of the most common problems face by SMEs is financial management problem (Hashim & Wafa, 2002).3.Financial Management of SMEsFinancial management is concerning with the creation and maintenance of economic value or wealth (Titman et.al, 2011). It involves decisions to accumulate and preserve wealth of the business. Generally it covers the decision making process in several areas such as determining the source of finance and dividend policy, investment decisions and working capital management. There is no big different between managing financial functions of big businesses or small businesses except that SMEs only deal with capital budgeting and working capital decision, given that SMEs are not paying dividends (Agyei- Mensah, 2011).Comparative review on previous studies by Mohd Amy Azhar et al. (2010) suggested that financial management consist of six components; financial planning and control, financial accounting, financial analysis, management accounting, capital budgeting and working capital management. The study also highlighted that the adoption of financial management tools among Malaysian SMEs were very low. Seeing that most SMEs practicing proper financial planning and control, financial accounting and working capital management, these components were labeled as core components of financial management. Yet the other three components which were mostly neglected were labeled as supplement components of financial management.A small scale study by Agyei-Mensah (2011) concluded that the influence of fund providers and external accountants are the most dominant factors stimulate SMEs to adopt reasonable financial management. On the other hand, due to lack of internal accounting staff and high cost to hire qualified accountant, SMEs face difficulties to understand accounting record and practice sound financial management.4.MethodologySemi-structured interviews were conducted among thirty five SMEs that were willing to participate in this study. The process of data collection took almost two months, due to the process of getting responses from the SMEs that were willing to participate in the study. The interview sessions were divided into two main sections. Section A was on demographic profile of the interviewees made up of various types ofindustries. This part asked for background information, which includes type of ownership, age of business, initial capital, source of capital, time spent to manage business, number of employees and owners’ education background. The SMEs crossed the range of firm size, geographic location within Malaysia. Meanwhile, Section B focused on the financial management activities and related questions on the practices. Initially, to understand the behaviour of respondents, the data are first described using appropriate tables. Further analysis is conducted by categorizing the responses regarding strengths and weaknesses among participated SMEs and quantifying the results.5.Results and DiscussionsThere were thirty five SMEs that participated in the study and their profile as presented can be categorized as sole proprietorship, partnership and company which consisted several type of businesses as viewed in Table 2.As for age of SMEs, more than half of the participated SMEs were between 0 to 3 years (19.5%) and followed by 4 to 6 years (24.1%), 7 to 9 years (13.8%) and finally more than forty percent of the SMEs aged 10 years and above. A total of 74% were bootstrapped from their own savings or borrowing from friends and relatives for initial capital. From the total, 25.88% dared to bootstrapped for the amount less thanRM5,000; RM20,001 and above (43.5%). However, merely seven per cent had their initial capital from commercial banks and government grants where the amount was more than RM50,000. Surprisingly, nearly half (49.5%) of the business owners spent their time between 9 to 12 hours every day to manage their businesses.It is important to know the educational background of the business owners because it showed the extent of their willingness in accepting new knowledge through training, seminars and workshops. These events were managed mostly by agencies under Ministry of International Trade and Industry (MITI) such as Pocket Talks by SME Corp., Domestic Investment activities by Malaysian Investment Development Authority (MIDA) and Innovative and Creative Circle (ICC) Convention by Malaysia Productivity Corporation (MPC). The government urges the SMEs to utilize the skills and knowledge gained from these events so that they could adopt prudent financial management.5.1.Financial Strengths of SMEsThe overall response on the financial strengths of the business can be classified into several main aspects. The detail of the classification is summarise in Table 3. Of the thirty five respondents, only 28 per cent of the participants pinpointed their financial strengths. Perhaps the other 72 per cent of the participants did not have any financial strengths or unable to identify their financial strengths due to lack of knowledge or education background.The result showed 26 per cent of the responses indicated that running the business using their own capital as their main financial strength. However SMEs need to bear in mind that in order to expand their business in the future, more capital is needed. Therefore it is advisable for them to use financing facilities provided by the financial institutions or government entities in helping them to have stronger financial capabilities to run the business in more competitive world. Another 17 per cent of the responses indicate that financial stability as the financial strengths of their businesses, followed by support from government entities (11%), doing business on cash basis (11%) and other aspects as shown in.5.2.Financial Weaknesses of SMEsIn response to the financial weakness, more participants (33%) were able to identify their weakness, compared to their financial strengths (28%). 40 per cent of the responses stressed that the main aspect of financial weaknesses in running their businesses is capital insufficiency and followed by incomplete accounting record (16%). Deterioration in financial performance is listed as the third aspects, with the response rate of 13 per cent and the difficulties in obtaining loan from financial institutions and government agencies listed as the following aspects with 11 per cent response rate. A possible explanation for this might be that due to the problem in financial performance plus incomplete financial record, it might be difficult for the SMEs to obtain loan from any entities, causing them to face a problem of capitalinsufficiency to run their business efficiently. Among other responses revealed in the study as detailed in Table 4 are high operating costs and collection problems.6.ConclusionThis study outlines the financial strengths and weaknesses of Malaysian SMEs. One of the most significant findings to emerge from this study is that, capital is the most critical financial component among SMEs. Running a business without any external capital (financing) shows the business is in a good financial condition. External financing may increase the risk of bankruptcy due to inability to settle the debt within agreed period. However, as the business keep growing, it is advisable for the SMEs to inject more capital to accommodate the expansion. Hiring appropriate staff may help SMEs in overcoming the constraints in applying for external financing through the preparation of proper accounting record and practicing prudent financial management.中文译文：马来西亚中小企业的优势和劣势：财务管理视角摘要在马来西亚，97.3％的商业机构由中小型企业（SMEs）组成，占全国总就业人数的52.7%左右。
中小企业财务管理 外文文献翻译
文献出处：Kilonzo JM, Ouma D. Financial Management Practices on growth of Small and Medium Enterprises: A case of Manufacturing Enterprises in Nairobi County, Kenya[J]. IOSR Journal of Business and Management, 2015, 17(8): 65-71第一部分为译文，第二部分为原文。
默认格式：中文五号宋体，英文五号Times New Roma，行间距1.5倍。
中小企业财务管理实践：肯尼亚内罗毕县制造业企业案例摘要：中小企业对国内经济社会发展做出了重要贡献。
本研究的目的是确定中小企业采用的财务管理做法及其对增长的影响程度。
本研究的具体目标是确定营运资金管理实践，投资实践，财务计划实践，会计信息系统，财务报告和分析实践对中小企业增长的影响。
内罗毕县记录显示，该县有五万多家小微企业。
肯尼亚制造业协会1999年的基线研究报告（KAM 2009）在肯尼亚记录了745家活跃的制造业中小企业，在内罗毕县有410人。
使用向中小型企业的业主/经理管理的问卷调查，从41家中小企业收集了主要数据。
使用简单的随机抽样技术来选择中小企业。
使用描述性和推论统计分析数据。
研究确定，75％的中小企业出售其产品现金，82％保持现金限额，92％有手动库存登记，35％的企业投资长期资产，45％的企业用内部资金进行商业融资。
55％没有正式的会计制度，74％的会计师没有合格的会计师准备财务报表。
在财务管理实践中，工业化部应引入中小企业能力建设方案。
关键词：中小企业（SME），财务管理实务，内罗毕县中小企业为任何国家的经济和社会发展做出重要贡献。
据国际劳工组织（2008年），日本约有80％的劳动力和德国的50％的工人在中小企业工作。
对于发展中国家，中小企业对乌干达（20％），肯尼亚（19.5％）和尼日利亚（24.5％）的国内生产总值做出了重大贡献。
中小企业财务风险管理外文文献翻译2017
外文文献翻译原文及译文文献出处: Sharifi, Omid. International Journal of Information, Business and Management 6.2 (May 2017): 82-94.原文Financial R isk M ana gement for Small and M edium SizedEnter pr ises(SM ES)Omid SharifiMBA, Depa rtment of Commerce and Business Ma nagement,Ka ka tiya University, House No. 2-1-664, Sa ra wa thi nega r,1．ABSTR AC Tmedium sized Enterprises (SME) do also face business risks, Similar to large companies, Small and Mwhich in worst case can cause financial distress and lead to bankruptcy. However, although SME are a major part of the India and also international - economy, research mainly focused on risk management in large corporations. Therefore the aim of this paper is to suggest a possible mean for the risk identification, analysis and monitoring, which can be applied by SME to manage their internal financial risks. For this purpose the financial analysis, which has been used in research to identify indicators for firm bankruptcy, was chosen.The data required for the study was collected from Annual report of the Intec Capital Limited. For the period of five years, from 2008 to 2012.the findings showed the data and the overview can be used in SME risk management.Keywor ds: Annual report, Small and Medium sized Enterprises, Financial Risks, Risk Management.2．INTR UDUC TIONSmall and medium sized enterprises (SME) differ from large corporations among other aspects first of all in their size. Their importance in the economy however is large . SME sector of India is considered as the backbone of economy contributing to 45% of the industrial output, 40% of India’s exports, employing 60 million people, create 1.3 million jobs every year and produce more than 8000 quality products for the Indian and international markets. With approximately 30 million SMEs in India, 12 million people expected to join the workforce in next 3 years and the sector growing at a rate of 8% per year, Government of India is taking different measures so as to increase their competitiveness in the international market. There are several factors that have contributed towards the growth of Indian SMEs.Few of these include; funding of SMEs by local and foreign investors, the new technology that is used in the market is assisting SMEsadd considerable value to their business, various trade directories and trade portals help facilitate trade between buyer and supplier and thus reducing the barrier to trade With this huge potential, backed up by strong government support; Indian SMEs continue to post their growth stories. Despite of this strong growth, there is huge potential amongst Indian SMEs that still remains untapped. Once this untapped potential becomes the source for growth of these units, there would be no stopping to India posting a GDP higher than that of US and China and becoming the world’s economic powerhouse.3. R ESEAR C H QUESTIONRisk and economic activity are inseparable. Every business decision and entrepreneurial act is connected with risk. This applies also to business of small and medium sized enterprises as they are also facing several and often the same risks as bigger companies. In a real businessenvironment with market imperfections they need to manage those risks in order to secure their business continuity and add additional value by avoiding or reducing transaction costs and cost of financial distress or bankruptcy. However, risk management is a challenge for most SME. In contrast to larger companies they often lack the necessary resources, with regard to manpower, databases and specialty of knowledge to perform a standardized and structured risk management. The result is that many smaller companies do not perform sufficient analysis to identify their risk. This aspect is exacerbated due to a lack in literature about methods for risk management in SME, as stated by Henschel: The two challenging aspects with regard to risk management in SME are therefore:1.SME differ from large corporations in many characteristics2.The existing research lacks a focus on risk management in SMEThe following research question will be central to this work:1.h ow can SME manage their internal financial risk?2.W hich aspects, based on their characteristics, have to be taken into account for this?3.W hich mean fulfils the requirements and can be applied to SME?4. L ITER ATUR E R EVIEWIn contrast to larger corporations, in SME one of the owners is often part of the management team. His intuition and experience are important for managing the company. Therefore, in small companies, the (owner-)manager is often responsible for many different tasks and important decisions. Most SME do not have the necessary resources to employ specialists on every position in the company. They focus on their core business and have generalists for the administrative functions. Behr and Guttler find that SME on average have equity ratios lower than 20%. The different characteristics of management, position on procurement and capital markets and the legal framework need to be taken into account when applying management instruments like risk management. Therefore the risk management techniques of larger corporations cannot easily be applied to SME. In practice it can therefore be observed that although SME are not facing less risks and uncertainties than large companies, their risk management differs from the practices in larger companies. The latter have the resources to employ a risk manager and a professional, structured and standardized risk management system. In contrast to that, risk management in SME differs in the degree of implementation and the techniques applied. Jonen & Simgen-Weber With regard to firm size and the use of risk management. Beyer, Hachmeister & Lampenius observe in a study from 2010 that increasing firm size among SME enhances the use of risk management. This observation matches with the opinion of nearly 10% of SME, which are of the opinion, that risk management is only reasonable in larger corporations. Beyer, Hachmeister & Lampenius find that most of the surveyed SME identify risks with help of statistics,checklists, creativity and scenario analyses. reveals similar findings and state that most companies rely on key figure systems for identifying and evaluating the urgency of business risks. That small firms face higher costs of hedging than larger corporations. This fact is reducing the benefits from hedging and therefore he advises to evaluate the usage of hedging for each firm individually. The lacking expertise to decide about hedges in SME is also identified by Eckbo, According to his findings, smaller companies often lack the understanding and management capacities needed to use those instruments.5.M ETHODOL OGYE OF FINANC IAL ANAL YSIS IN SM E R ISK M ANAGEM ENTHow financial analysis can be used in SME risk management?5.1.1 Development of financial r isk over view for SM EThe following sections show the development of the financial risk overview. After presenting the framework, the different ratios will be discussed to finally present a selection of suitable ratios and choose appropriate comparison data.5.1.2.Fr a mewor k for fina ncial r isk over viewThe idea is to use a set of ratios in an overview as the basis for the financial risk management.This provides even more information than the analysis of historicaldata and allows reacting fast on critical developments and managing the identified risks. However not only the internal data can be used for the risk management. In addition to that also the information available in the papers can be used.Some of them state average values for the defaulted or bankrupt companies one year prior bankruptcy -and few papers also for a longer time horizon. Those values can be used as a comparison value to evaluate the risk situation of the company. For this an appropriate set of ratios has to be chosen.The ratios, which will be included in the overview and analysis sheet, should fulfill two main requirements. First of all they should match the main financial risks of the company in order to deliver significant information and not miss an important risk factor. Secondly the ratios need to be relevant in two different ways. On the one hand they should be applicable independently of other ratios. This means that they also deliver useful information when not used in a regression, as it is applied in many of the papers. On the other hand to be appropriate to use them, the ratios need to show a different development for healthy companies than for those under financial distress. The difference between the values of the two groups should be large enough to see into which the observed company belongs.5.1.3.Eva lua tion of r a tios for fina ncia l r isk over v iewWhen choosing ratios from the different categories, it needs to be evaluated which ones are the most appropriate ones. For this some comparison values are needed in order to see whether the ratios show different values and developments for the two groups of companies. The most convenient source for the comparison values are the research papers as their values are based on large samples of annual reports and by providing average values outweigh outliers in the data. Altman shows a table with the values for 8 different ratios for the five years prior bankruptcy of which he uses 5, while Porporato & Sandin use 13 ratios in their model and Ohlson bases his evaluation on 9 figures and ratios [10]. Khong, Ong & Yap and Cerovac & Ivicic also show the difference in ratios between the two groups, however only directly before bankruptcy and not as a development over time [9]. Therefore this information is not as valuable as the others ([4][15]).In summary, the main internal financial risks in a SME should be covered by financial structure, liquidity and profitability ratios, which are the main categories of ratios applied in the research papers.Fina ncial str uctur eA ratio used in many of the papers is the total debt to total assets ratio, analyzing the financial structure of the company. Next to the papers of Altman, Ohlson and Porporato & Sandin also Khong, Ong & Yap and Cerovac & Ivicic show comparison values for this ratio. Thosedemonstrate a huge difference in size between the bankrupt and non-bankrupt groups.Figur e 1: Development of tota l debt/tota l a ssets r a tioData sour ce: Altman (1968), Por por a to & Sandin (2007) and Ohlson (1980), author ’s illustr a tionTherefore the information of total debt/total assets is more reliable and should rather be used for the overview. The other ratios analyzing the financial structure are only used in one of the papers and except for one the reference data only covers the last year before bankruptcy. Therefore a time trend cannot be detected and their relevance cannot be approved.C ost of debtThe costs of debt are another aspect of the financing risk. Porporato & Sandin use the variable interest payments/EB IT for measuring the debt costs. The variable shows how much of the income before tax and interest is spend to finance the debt. This variable also shows a clear trend when firms approach bankruptcy.L iquidityThe ratio used in all five papers to measure liquidity is the current ratio, showing the relation between current liabilities and current assets (with slight differences in the definition). Instead of the current ratio, a liquidity ratio setting the difference between current assets and current liabilities, also defined as working capital, into relation with total assets could be used.Figur e 2: Development of wor king capita l /total assets r a tioData sour ce: Altman (1968) and Ohlson (1980); author ’s illustr a t ioBasically the ratio says whether the firm would be able to pay back all its’current liabilities by using its’current assets. In case it is not able to, which is when the liabilities exceed the assets, there is an insolvency risk.6.C R ITIC AL R EVIEW AND C ONC L USIONWhen doing business, constantly decisions have to be made, whoseoutcome is not certain and thus connected with risk. In order to successfully cope with this uncertainty, corporate risk management is necessary in a business environment, which is influenced by market frictions. Different approaches and methods can be found for applying such a risk management. However, those mainly focus on large corporations, though they are the minority of all companies[13].Furthermore the approaches often require the use of statistical software and expert knowledge, which is most often not available in SME. They and their requirements for risk management have mainly been neglected [17][13].This also includes the internal financial risk management, which was in the focus of this paper. Due to the existing risks in SME and their differences to larger corporations as well as the lack of suitable risk management suggestions in theory, there is a need for a suggestion for a financial risk management in SME. The aim was to find a possible mean for the risk identification, analysis and monitoring, which can be applied by SME to manage their internal financial risks. For this purpose the financial analysis, which has been used in research to identify indicators for firm bankruptcy, was chosen. Based on an examination and analysis of different papers, despite of their different models, many similarities in the applied ratios could be identified. In general the papers focus on three categories of risk, namely liquidity, profitability and solvency, which are in accordance to the maininternal financial risks of SME. From the ratios the most appropriate ones with regard to their effectiveness in identifying risks.译文中小企业财务风险管理研究奥米德沙利菲1、摘要中小型企业( SME) 和大型企业一样，也面临着业务风险，在最糟糕的情况下，可能会导致金融危机，甚至破产。
外文翻译 我国中小企业财务管理中存在的问题及对策研究--以杰盟鞋业为例
财务管理实践和社会再生产摘要本文的目的是通过调查消费者的财务管理实践，加深对社会再生产的理解。
通过深度访谈，建立了一个理论模型来描述财务管理实践如何促进班级特定生活目标的实现，并讨论这些实践如何与社会再生产相关。
设计/方法/方法：一共有22名22 79岁的成年人接受了面对面访谈。
他们被要求描述自己的财务管理实践以及对自己财务状况的看法和感受。
他们还被问及生活目标和他们对实现既定目标进展的看法。
研究结果：不同的财务管理实践及其相应的结构含义是确定在这项研究。
应对措施是工人阶级为履行世俗的财政义务而采取的措施，留给他们制定长期战略的时间。
中产阶级为了兼顾繁忙的家庭生活和有前途的事业而采取的平衡做法。
由于闲置资源水平较低，中产阶级需要在实践中进行货币权衡。
成就实践是中上层阶级确立自己的阶级地位，致力于促进自我和家庭的成长的实践。
财务管理实践的结构性影响使得工人阶级最难通过教育获得职业地位，而中上层阶级则很容易获得。
研究限制/影响-本文研究了美国中西部城市的一个方便的成年人样本，与美国大都市相比，该城市的种族同质性（即白人）很高，本研究揭示了个人/家庭财务管理实践的社会嵌入性和结构性影响。
独创性/价值-这是第一个研究阶级状况，其不同的资源水平和时间范围的差异，如何影响财务管理实践的制定，以及这些微观过程如何导致社会再生产。
财务管理；社会阶层；社会资本；生活质量论文类型研究论文介绍在资本主义工业社会，社会选择应该建立在精英制度的基础上，在这种制度下，工作岗位与人的才能和能力相称。
如果是这样的话，如果公民能够平等地接受高质量的教育，那么社会出身就不应该与个人目前的社会阶层有很大的关联。
然而，尽管包括美国在内的经济发达社会扩大了教育供给，但受教育程度和社会流动性方面的阶级不平等并不支持为不同阶级出身的个人实现更大生活机会平等的长期运动的想法（Goldthrope，1996）。
因此，如果要解释这些模式，研究应该倾向于调查这种现象的微观基础，即个人和家庭所进行的过程如何导致社会结构的再生产（Goldthrope，1996）。
英语文献和翻译：中小型企业的战略财务管理
中小型企业的战略财务管理摘要随着社会经济的发展和科学技术的进步,中国的企业处于一个充满机会和危险的阶段。
本文介绍了中小型企业战略财务管理的意义和存在的问题,并阐述了出现问题的原因,最后提出了一些对策。
关键词：中小企业，战略财务管理，问题，对策财务环境决定了一个企业的金融活动充满不确定性风险。
财务管理除了带来机会,还有许多的危险。
因此,它已经成为了成功的关键，一个企业的财务管理是否能跟随趋势的变化，分析什么是有用的，并应拒绝接受什么是有害的。
战略管理思想在企业的财务管理中是非常重要的,因为我们必须努力去分析和把握一般环境和发展一个企业的发展趋势,从而提高适应能力、可变性和适用性的金融中心管理不确定环境。
目前, 已有超过10,000,000中小型企业通过了工商业登记，占中国企业总数的90％。
因此，他们的战略财务管理是特别重要的，这也是本文的话题。
1 简介战略财务管理是指根据财务管理理论应在最适当的方式进行融资，募集资金使用和管理应作出最合理最有效的方式在企业和再投资和利润分配的决定。
根据其内涵，我们可以归纳出三个主要的战略财务管理的内容，包括融资战略，投资策略及利润分配策略。
详情如下：融资策略高度发达的现代企业具有的销售急剧增长的特点。
当面对这样一种局势, 企业往往有很大的资金需求，以及由于存货及应收款项增加。
销售增长的张力越大,资本要求越大。
因此, 战略管理财务在融资策略中具有十分重要的意义。
融资策略的功能在于明确的指导方针融资、铺设融资目标下,建立整体规模、融资渠道和方法,安排战略资本结构优化方案,从各方面对此作了相应的对策,以达到融资目标,最后预测和收集的大量资金的企业的需要。
投资策略作为战略财务管理的核心，这个战略决定企业是否可以在一个合理和有效的方式或不调配其资金和资源。
投资策略涉及确认固定资产，企业规模和资本规模，对外扩张或内部扩张，改革旧的产品或开发新的，独立或联合行动的相关投资选择的投资方向，投资与自我资金或贷款，并决定对固定资产和流动资产，投资策略与风险和那些在通胀之间的比例。
外文翻译---中小型企业财务管理模式的探析
毕业设计/论文外文文献翻译院系经济管理学院专业班级财务管理0902班姓名刘俊奎原文出处 Economic Research评分指导教师杨捷华中科技大学武昌分校2013年03月日毕业设计/论文外文文献翻译要求：1．外文文献翻译的内容应与毕业设计/论文课题相关。
2．外文文献翻译的字数：非英语专业学生应完成与毕业设计/论文课题内容相关的不少于2000汉字的外文文献翻译任务（其中，汉语言文学专业、艺术类专业不作要求），英语专业学生应完成不少于2000汉字的二外文献翻译任务。
格式按《华中科技大学武昌分校本科毕业设计/论文撰写规范》的要求撰写。
3．外文文献翻译附于开题报告之后：第一部分为译文，第二部分为外文文献原文，译文与原文均需单独编制页码（底端居中）并注明出处。
本附件为封面，封面上不得出现页码。
4．外文文献翻译原文由指导教师指定，同一指导教师指导的学生不得选用相同的外文原文。
中小型企业财务管理模式的探析摘要中小企业作为一个整体的组织.在经济全球化时代的经济发展做出了突出贡献，越来越多的国家重视中小企业.虽然中小企业发挥了重要作用，促进经济发展，但是许多中小企业的作用相当一部分单纯追求销量和市场份额而忽略核心地位的财务管理。
管理意识是刚性的，仅限于生产经营的管理结构和企业管理，企业财务管理和风险控制没有得到充分使用，这对中小型企业的信贷和融资渠道产生了负面影响，原因是缺乏有效的财务管理支持。
所以深化金融改革，探讨了金融的潜力，提高财务管理水平，建立财务管理模式适合中小企业的现状是重中之重。
关键词：中小型企业，财务管理，财务管理模式中小型企业的概念中小型企业被各界人士和政府机构以各种方式定义，正如它在不同的国家以多种方式发挥作用。
微型企业被认为是一个小公司或中型企业。
不管怎样，我们的工作即包括微型企业或小型业务，也包括中等规模业务。
对小型公司进行最全面研究的是在英国，由博尔顿委员会提出（1971）。
委员会定义“小型公司”为“一个不超过200名员工的企业”。
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
附件1：外文资料翻译译文财务管理问题研究在市场经济中，管理是决定企业生存和发展的重要性。
近年来，由于意识形态偏见在认识和历史原因，许多的内部财务管理制度不健全给财务管理带来混乱的客观理由，导致一些缺乏内部监督机制、发生假帐或者账户外设的帐户直接导致的混乱及财务管理效率低下的企业。
这是来自经验的证明。
因此，加强财务管理，建立健全内部财务管理制度已经成为企业不可或缺的条件。
首先，企业应当建立健全内部财务管理制度。
(一)建立内部财务管理系统是为适应社会主义市场经济体制的客观要求，企业在市场竞争中生存、发展，就必须遵循市场经济的要求规范金融行为；必须按照市场经济的要求融资、经费使用和利益分配，提高生产和操作，提高企业的经济效益，从而增强自己的竞争力以实现经济增长，改变公司经营方式以适应市场经济的客观要求。
(二)建立健全内部财务管理系统是企业管理的内在要求1、财务管理是企业管理的基础，是一切企业管理活动的中心环节。
内部财务管理公司的资金管理活动与形式的价值，主要基于成本管理和资金管理为中心，通过一种价值管理为物理形式的管理。
因此，财务管理是企业管理活动的基础，是企业管理的中心环节。
2、财务管理在各方面的生产经营和整个过程，根据它的意义，我们可以总结四大要素的财务管理，包括筹资管理、投资管理、营运资本管理、利润分配管理。
(三)财务管理和企业管理有广泛的联系在商务活动、财务管理的触角延伸到每一个角落，每一个部门的业务将获得服务的资金通过使用接触到金融部门，每个部门应合理使用资金，为了省钱，所以接受部门的指导，受金融系统的约束，以确保提高企业经济效益。
(四)公司财务管理迅速体现公司的生产工作。
所有生产及企业经营活动都最终反映在其财务结果通过会计、分析、比较，你可以检查实施企业生产经营活动的方式，发现问题，找出解决问题的办法。
在特定的财务结果反映的数目和情况的权威。
在商业管理，无论是否适当的决策水平的技术，生产和销售是平稳的，并且能从财务指标迅速反映。
第二，内部财务管理体制很难建立的主要原因(一)市场经济对内部财务管理体制的商业冲击随着市场经济发展，一些单位片面强调企业所有权和管理权限，放宽对内部财务管理，造成不同程度的会计工作的基础上的弱化、山体滑坡和甚至混乱。
特别是在：1、根据国家规定，建账金融体系的建设，不要求建账导致帐目有些混乱；2、帐户或客户的周边假帐隐匿真实财务状况和商业经济的结果；3、违反财务纪律，未经授权的保有、转移的国民收入，建“小金库”；4、违反财务会计制度，乱挤毫无根据的成本、免费注销或增加费用、降低利润损失，导致会计信息的严重失真。
(二)企业财务人员整体素质不高带来强烈的财务管理意识作为一个公司的财务人员是起草的内部的财务系统，也是一个主管和执行者。
因此，公司全体员工的工作能力水平的服务质量，在建立内部财务系统和这一制度的实施中发挥着重要作用。
但是相当一部分作为公司的财务人员主观和客观因素的影响，很难完全承担发展的内部财务管理系统的功能，主要从事：1、有相当部分理财人员因不熟悉新的企业金融体系、业务不精、主动性不够强，而无法启用；2、有恐惧的企业财务人员，怕会得罪领导，害怕失去一件容易的工作；3、地位本身甚至不是片面的建立和健全内部财务管理体制是一种不涉及到他们自己的领导责任。
第三，建立健全系统的内部财务管理措施因为上述原因分析，建立健全内部财务系统，可从以下几方面：(一)加强领导，统一思想，提高知名度加强宣传和教育，通过教育和提倡给企业主和财务人员，能够充分理解财务管理的重要性、必要性和企业内部的相关性，建立了完善的内部财务管理系统相结合，与现代企业制度的深化企业改革，转换企业经营机制的总和。
为了调动更加稳健的系统，对商业领导承认错误、正确思维、继续发扬传统的优秀作风、艰苦工作并促进工作的健康发展的限制越大。
(二)加强企业财务人员培训，强化财务人员道德素质1、通过一系列的培训课程、讲座、课程和研讨会和其他的手段来加强公司财务人员培训，使财务人员增进对市场经济理论的学习，以提高财务人员的会计理论水平和事业机会。
2、加强财务人员的职业道德，大力发扬改革开放以来金融战线的公司出现的先进人物和行为，大部分财务人员感觉到职业道德培训和专业伦理道德对做好自己的工作的重要性。
(三)金融机构应该加强引导和推动建立企业内部财务制度金融部门应该建立和完善企业内部财务管理制度和实施企业自治，推进企业转换经营机制，建立现代企业制度。
书面指导是必要的组织样本，帮助公司促进咨询和指导，加快推广应用价值。
总之，财务管理的目标企业的财务活动，处理财务关系组织以满足基本的目的，决定了财务管理的基本方向。
财务管理是企业的出发点。
反映企业财务管理之间的平衡，利益集团是一种综合反映各因素之间的相互作用。
企业是企业财务管理系统对企业财务管理、财务工作发展的企业制度。
根据有关法律、法规，企业开发了在特殊情况下的金融系统。
在实践中，对规范和引导企业的良性发展，发挥着重要作用。
Financial management problems research In a market economy, the management is to determine the importance of enterprise survival and development. In recent years, due to ideological bias in understanding and some historical reasons, the objective reasons why the number of internal financial management system is not sound financial management to cause confusion, resulting in some lack of internal oversight mechanisms, occurring false accounts or accounts peripherals account. A direct result of confusion in financial management and poor efficiency of enterprises. This is the proof from experience. Therefore, the strengthening of financial management, establish a sound internal financial management system has become a business imperative.First, enterprises should establish a sound system of internal financial management.(A) The establishment of internal financial management system is to adapt to the socialist market economic system, the objective requirements of enterprises to survive in market competition, and development, we must follow the requirements of market economy norms financial behavior. That must be in accordance with the requirements of market economy financing, use of funds and distribution of benefits, improve production and operations, improve the economic efficiency of enterprises, thereby enhancing their competitiveness in order to achieve economic growth, to change the way companies adapt to market economy objective requirements.(B) Establish a sound internal financial management system is an inherent requirement of enterprise management1、Financial management is the basis for all management activities, is the central link in enterprise management. Internal financial management of the company's funds management activities and the form of value, mainly based on cost management and capital management as the center, through a form of value management, to physical form of management. Therefore financial management is the basis for all management activities, the central link in enterprise management.2、Financial management throughout all aspects of production and operation andthe entire process. According to its meaning, we can summarize the four main elements of financial management, including fund-raising management, investment management, working capital management and profit distribution management.(C) financial management and business management all have extensive contactIn business activities, financial management of the tentacles stretched to every corner of business, each department will be serviced through the use of funds into contact with the financial sector, each sector should in the rational use of funds, to save money and so accept what Department guidance, subject to the constraints of financial systems in order to ensure the improvement of economic efficiency of enterprises.(D) Fast Company's financial management reflects the company's production operations.All production and business activities of enterprises, are ultimately reflected in the financial results up through the accounting, analysis, comparison, you can check the implementation of enterprise production and business activities, and finding problems, find solutions to the problem. In particular financial results reflect the number and circumstances of the authoritative. In business management, regardless of whether the appropriate decision-making level of technology, production and marketing is smooth and other areas can be quickly reflected from the financial indicators.Second, internal financial management system is difficult to establish the main reason(A) Of the market economy on the business impact of internal financial management systemAs the market economy further, some units of one-sided emphasis on corporate ownership and management rights, to relax the internal financial management, resulting in varying degrees of accounting based on the work of the weakening, landslides and even chaos. In particular in:1、According to state regulations, prepare accounts of the financial system does not require the construction, prepare accounts but the accounts Though some confusion;2、Account or accounts peripheral false accounts, concealing the true financial condition and business economic results;3、Violation of financial discipline, unauthorized retention, transfer of national income, "little treasuries";4、Violation of the financial accounting system, mob unjustified costs, free to write off the cost, reduce profits or increase any loss, severe distortion of accounting information.(B) The overall quality of corporate financial officers is not high enough lead to strong financial management awarenessAs a corporate financial officer is the drafting of internal financial systems, and also a supervisor and executor. Therefore, the company staff the ability to work, the level of service quality on the establishment of internal financial systems and the implementation of the system plays an important role. But a considerable part of the company's financial staff as subjective and objective factors, difficult to fully undertake the development of internal financial management system functions, mainly:1、A considerable part of the financial personnel not familiar with the new enterprise financial systems, business is not fine, initiative is not strong, was unable to start with;2、There is fear of corporate financial officers, afraid of offending the leadership, fear of losing easy work;3、Position itself is not even one-sided view to establish and improve internal financial management system is a matter of leadership has nothing to do with their own.Third, establish a sound system of internal financial management measuresAnalysis for the above reasons, establish a sound internal financial systems, available from the following aspects:(A) To strengthen leadership, unity of thinking, to raise awarenessStrengthen publicity and education, through advocacy and education to business owners and financial officers, are able to fully understand the importance of financial management within the enterprise, necessity and relevance, to establish a sound system of internal financial management combined with the modern enterprise system, With the deepening of enterprise reform, change their operating mechanism combined. To remove the system more robust, the greater the constraints on business leaders recognize the error,correct thinking, continue to carry forward the fine tradition of hard work and style, and promote the healthy development of this work.(B) To strengthen the corporate financial staff training and enhancing ethics finance staff1、Through a series of training courses, seminars, courses and conferences and other means to enhance the business training corporate financial officers, financial officers to enhance the learning of the market economic theory in order to improve the level of financial personnel and accounting theory of the business.2、Strengthen the financial staff of professional ethics, and vigorously promote the reform and opening up the financial front since the company emerged out of the advanced character and deeds, the majority of financial officers perceived importance of professional ethics training to high professional ethics do their jobs.(C) The financial sector should strengthen guidance and promote the establishment of internal financial systemThe financial departments should establish and improve internal financial management system and implementation of enterprise autonomy, and promote enterprises to change their operational mechanism, establish a modern enterprise system. Written guidance is necessary tissue samples to help companies promote counseling and guidance to accelerate the popularization.In summary, the objective of financial management of financial activities of the enterprise organization, handling financial relationships to achieve the fundamental purpose, which determines the basic direction of financial management, financial management is the starting point.Enterprise Financial Management reflects the balance between the interests of interest groups, is a comprehensive reflection of the interaction of various factors. Enterprise is the enterprise financial management system for financial management, financial work to develop the enterprise system. According to relevant laws, regulations and financial system, and developed with the specific circumstances of enterprises. In practice, norms and guiding role to play, the sound development of enterprises played an important role.。