现金流量论文

毕业论文

论文题目：企业现金流量管理问题及研究学生姓名：

指导教师：

所学专业：会计学

2011年11月

企业现金流量管理问题及研究

摘要

现金流量对于企业的重要性就如血液对于人体一样，“现金至尊”的观念早就深入人心，因此我国及国外的学者都对现金流量进行了各种深入的研究。相对于国外的研究而言，我国在现金流量管理方面的研究起步相对较晚，研究深度也比较欠缺。在实务中，我国企业的现金流量管理还存在着方方面面的问题，现金管理薄弱，其根源还在于我国的理论界和实务界并没有真正明确现金流量管理的目的，没有理清企业战略、企业价值和现金流量三者之间的关系，所以对现金流量的管理缺乏方向性，所以导致现金流量管理如同一盘散沙。基于改善该状况的出发点，本文作者希望能通过本文的写作来构建一个完整的现金流量管理与分析框架。该框架以现金流量管理必须能够提升价值作为逻辑起点，遵循现金流量管理必须从企业的战略出发为基本原则，并且以企业价值创造路径为路径。在内容上，该框架包括四个部分的内容；一、现金流量管理和分析框架在公司治理和制度权限层面上的控制；作者认为在这一层面上企业应该采取现金流量集中控制模式。二、现金流量管理和分析框架在具体操作层面上的安排；在这一层面上，现金流量管理框架以现金流量流转的过程为路径，以在现金循环中创造价值为目的，以企业战略为始点，全面构造了现金流量管理的实务操作框架。三、现金流量分析；提出了现金流量分析的三步骤：第一步：现金流量结构分析；第二步：现金流量的进一步阅读；第三步：现金流量的比率分析。四、现金流量分析的延伸；提出了对传统现金流量折现法进行改进的建议。

本文共分六章；第二章至第五章是本文主要部分，第二章主要解释企业现金流量的含义及其在实践中的应用；第三章主要描述了有关企业现金流量管理的现状，从中发现问题；第四章对于企业现金流管理问题进行分析举例；第五章则是对现金流量管理的改进措施及对策。

关键词：现金流量管理；现金流量分析；企业价值

－I－

Enterprise cash flow management and research

Abstract

The importance of cash flow for the company as for the human body, like blood, ”Cash Extreme”concept has long been popular, so China and foreign scholars have conducted a variety of cash flow-depth study. Relative to the foreign studies, our cash flow management relatively late start of the study, research lacks depth. In practice, our firm’s cash flow management, there are still aspects of the problem, cash management is weak, its source lies in the theory and practice our profession does not really clear cash flow management purposes, there is no sort of corporate strategy, business value and the relationship between cash flow, so the lack of cash flow management and direction, thus resulting in cash flow management as a mess. Improve the situation based on the starting point; the author hopes that, through writing this article to build a complete cash flow management and analysis framework. The framework must be able to improve cash flow management as a logical starting point value; cash flow management must follow a strategic departure from the basic business principles and corporate value creation path to the path. In content, the framework consists of four parts of the content; one, cash flow management and analysis framework in corporate govemance and institutional authority at the level of control; authors believe that companies should take this level of centralized control of cash flow patterns. Second, cash flow management and analysis of specific operational level in the framework of the arrangements; at this level, the cash flow to cash flow management framework for the process flow path, to create value in the cash cycle for the purpose of corporate strategy as a starting point to fully constructed the practical operation of the cash flow management framework. Third, cash flow analysis; made a cash flow analysis of three steps: Step one: cash flow structure analysis; the second step: the

－II－