企业成本管理【外文翻译】

外文翻译

Cost Management of Corporate

Material Source:http: 《Cost Management》

Author: Don R. Hansen，Maryanne M. Mowen

1 the concept of financial control needs to redefine

The need to redefine the financial controls, because the theory of financial management, financial management environment and people's expectations have changed. First of all, compared with the traditional system, financial management, financial management has been separated from and independent existence, as in the separate government administration from enterprise to legal status after the independent governments, in other words, the microstructure of financial management is its basic property. Discussion of financial control to be under the guidance of agent theory, based on "clear property rights, power and responsibility, separation of enterprise management science" of modern enterprise system and corporate governance requirements. Specifically include the following:

1.the main body of corporate financial control board first.

According to agency theory, "agency relationship exists in all organizations, all cooperative activities exist in every enterprise management level." Empirical analysis shows that the economic agent is based on the operators to grant shareholders the right management can reduce operating costs, because a large number of shareholders by a company directly involved in decision-making, management, production control cost is staggering. But the agent must lead to the establishment of another agency costs. This cost ultimately borne by the shareholders only, and its presence will affect the company's operating efficiency, and may even threaten the survival of the company. In the modern enterprise system, corporate governance structure is an important feature of the board of the operator (CEO) to strengthen financial discipline and control. According to our "Company Law" the relevant provisions of the Board or the shareholders by the creation of the Assembly elections. Mandate from the Board of Directors of view, we are very easy to make this conclusion: corporate governance structure to the board for the center building, the board outside the main activities on behalf of the

company for Ge Zhong, internal management of the company's financial and operating,Board can Quanfang Wei Fuze financial decision-making and control, essentially decided the company's financial position.

This paper emphasizes the financial control board in the modern enterprise's dominant position is by no means deny the CEO (chief executive) and the CFO in the financial control system of a certain position, in fact, multi-agency relationships as business generation and operation of the main body of financial control is layered and multi-level (in the internal control serious business, general manager of the financial control actually occupy "the Chief"). At the same time in the modern corporate board decision-making and control of the financial position of the subject is not no CEO position in the enterprise value creation in the corporate strategic decision-making and tactical implementation of these two areas, both the need for a strategic retreat, policy makers, need implementation experts, the CEO. Gates on quite emotionally said: "When the strategic master is not worth mentioning, when the CEO side was hard effort."

From the point of view of the mechanism, the financial control of the first things not just the financial sector, not the responsibility of enterprise managers, but investors were integrated enterprise financial and comprehensive management. A sound corporate financial control system, in fact, is the perfect embodiment of corporate governance structure. In turn, innovation and deepening of financial control will promote the establishment of modern enterprise system and sound corporate governance structure.

2.financial control goal is to maximize the value of corporate finance, agency costs and financial returns are balanced, is the business reality and the future high-yield low-cost, unified, rather than the traditional control of the financial activities of the reality of compliance, effectiveness. Financial control board for the primary objective is to reduce agency costs (defined by the operators, employees and other agents lazy, irresponsible, deviate from the shareholders of target and to various means to obtain wealth from the company incurred costs, such costs ultimately Shareholder). The presence of agency costs affect operational efficiency, and may even threaten the survival of the company. Second, the financial control objectives to promote enterprise readiness goals, the financial control process must be around the business strategy formulation, implementation, control the whole process of a series of measures. Finally, the financial control efforts will be