Abstract: In the face of fierce competition, in order to survive, access to development must attach importance to corporate management, thereby affecting the economic efficiency of enterprises, good or bad, because the financial management of the level of direct impact on the level of the enterprise management, optimize financial management mining financial management is of great significance for the promotion of the economic efficiency of enterprises.
Keywords: financial management, corporate management, cost control, economic benefits
As more and more people agree with the position and role of financial management in the enterprise management. Status and role specific performance: business management as the center or core financial management, financial management is an important part of enterprise management and always throughout the whole process of business management.
1 Financial Management Overview
1.1 Financial Management connotation
Financial Management (Financial Management is based on certain laws and regulations, under the guidance of some overall objective, the purchase of corporate assets (investment intermediation of capital (financing and operating cash flow (working capital), and the distribution of profits management as The core of enterprise management, financial management, improve enterprise management, improve enterprise economic benefits has a very important role. practice: level of financial management is good or bad for economic efficiency of enterprises have an important impact.
1.2 Financial Management
Financial management is extremely rich in content, to look from different angles, which contains the contents are different from the perspective of the organization of corporate finance activities, financial management, including the raising of funds, funds invested with the distribution of content from handling financial relationships of Perspective, financial management include many complex relationships involving businesses with creditors, debtors and investors by owned, the relationship between the government, but also include the financial relationships between the various units of the enterprise content as well as the financial relationships between the enterprise and the employees, and so on.
1.3 Financial Management functionality
Financial management as an important part of enterprise management, its role in the play is in its functional basis. Specifically, financial management has three basic functions: financial management capabilities, cost control functions, supervision and control functions.
1.3.1 funds management function
Funds essential for the development of enterprise, if the enterprise is a metaphor for the human body, that capital is the blood in the body. Funds can be said is the indispensable condition of business and development. Survival and development of all enterprises must be based on certain funds . Corporate financial management with the most basic functions of fund management. Financial management and enterprise management personnel is based on the analysis of market and business development, comprehensive information on all aspects of data, to dominate the enterprise funds to take advantage of the limited funding bring the maximum output, promote the upgrading of the economic efficiency of enterprises. This is the financial management of the funds management capabilities.
1.3.2 cost control function
There are many factors that affect corporate profits, for example, changes in the cost of raw materials, changes in wages and salaries, changes in market supply and demand relationship, and so on, but the cost factor is one of the main factors that affect corporate profits. Financial managers use the scientific method, protect the normal operation of enterprises premise under strict control unreasonable expenditure in the enterprise, including product cost control, control of expenses for the period, the control of the R & D expenses and payroll, benefits, insurance and labor protection management. to achieve lower production costs, increase profits, and improve the economic efficiency of enterprises, financial management, cost control function.
The 1.3.3 management oversight function
Normal operation of enterprises, the need for a set of comprehensive management system of supervision and management in the financial management and supervision system allows businesses at every step in the production process to ensure that the enterprise is always the right way to move forward. Moreover, under perfect supervision system, enterprises can effectively utilize the various resources the maximum extent digging their own capacity, to optimize the operation and management of the enterprise, which can be put into larger economic benefits at a smaller cost. This is the financial management in the management and supervision functions.
2 Financial Management Function of promoting economic efficiency of enterprises
2.1 as the core fund management function to optimize the use of enterprise funds
2.1.1 The implementation of the centralized management of funds
Complicated process of production and operation of enterprises, involved in many aspects of the use of funds, if the decentralized management of funds, it would be difficult harmonization scheduling, financial risks greatly increase the probability of occurrence. To this end, in the enterprise in the financial management process, should the funds centralized management, which will reduce the likelihood of corporate financial risk. specific centralized management of funds can be in the form of a financial settlement center, this can effectively control the bulls account, effective control and unified control of the enterprise funds play a settlement center "reservoir" function when adequate corporate liquidity, clearing center can store some liquidity reserved for his use, from time to time when corporate liquidity tensions, the settlement center may be spending some of the funds to alleviate the economic crisis. implementation of centralized management of funds play funds value funds for the enhancement of the economic efficiency of enterprises laid a good foundation.
2.1.2 The full implementation of the capital budget management system
In order to play the central role of the financial management of funds management capabilities, enterprises should be the full implementation of the capital budget management system, strictly control the flow of funds into the enterprise products before as well as the production process, strict implementation of the requirements of the budget to ensure the orderly flow of funds to make limited funds of enterprises maximize the value of such a natural thing in terms of economic efficiency of enterprises, enhance natural but the other hand, funds management system implemented by the vast majority of enterprises often start only after the production finished, if found no While use of the funds, even if the enterprise funds use a problem is found, then it was too late to remedy the valuable funds on the loss of virtually negative chain reaction naturally be a negative impact on the economic efficiency of enterprises. In order to improve the economic efficiency of enterprises, enterprises need to plan ahead, the implementation of a comprehensive capital budget management system.Links to free papers Download Center http://eng.hi138.com
2.1.3 strengthen liquidity analysis
Forecast liquidity has an important role in the development of enterprises and the current status of the amount of the net flow of funds on behalf of enterprises net liquidity represents the net current assets, the more the more, its short-term liquidity and strong credit status, easier to fund-raising in the capital markets, and lower cost. enterprises should strengthen liquidity analysis and forecasting, real-time control of the inflow and outflow of corporate liquidity, to ensure that companies have sufficient ability to pay and the ability to repay the debt, the liquidity management as the day-to-day task of corporate financial management throughout all aspects of corporate financial management. strengthen predict corporate liquidity analysis, and to improve the utilization of liquidity to increase funding to reduce business costs, and improve the economic efficiency of enterprises.
2.2 focus on cost control functions, enterprise resource utilization optimization
Enterprise development strategies, cost control is an extremely important position if the cost of the product under the premise of ensuring product quality control and favorable position in the fierce market, profit, rapidly enhance the economic efficiency of enterprises, financial The play of the management cost control is mainly reflected in the following aspects:
2.2.1 implementation of target cost management system
Implementation of target cost management system is to improve resource utilization, reduce the consumption of resources and effective measures to improve the economic efficiency of enterprises in order to formulate a target cost for enterprise management system, companies first need to carry out in-depth research to understand the internal and external environment and their own Development, determined on the basis of the reasonable cost of business goals. Secondly, under the guidance of the scientific method, large enterprise target cost gradual decomposition refined easy to realize the target cost, in order to mobilize the target execution subjective initiative. Finally, create a good service and guidance to the implementation of target execution, so that the target cost management systems perform active state enterprises through the above steps, you can effectively reduce production costs, and achieve the cost management objectives, to promote the improvement of the economic efficiency of enterprises.
In addition, with the tell the development of information technology, but also to utilize sophisticated information management system, the implementation of real-time monitoring of all aspects of production, to understand the changes in the product cost, timely to make corresponding adjustments in the dynamic analysis of the cost of the product, from a variety of ways to reduce the cost of the product, improve the economic efficiency of enterprises.
2.2.2 Construction of the full cost control system
Enterprise product cost control fronts, but the most important is to mobilize all the employees of the enterprise, to build the full cost control system, because the factors that affect production costs and other factors are objective controlled only people is subjective and difficult to control. In order to maximize cost savings, it is necessary to build the full cost control system The system includes both horizontal and vertical dimensions, cost goals down to every level to implement horizontal decomposition of the implementation to the relevant functional departments within the enterprise management control vertical decomposition of the implementation of management control to the workshop team personal form a criss-cross network of enterprise cost management, and full rigorous assessment. Corporate staff strive to improve the work efficiency, reduce production costs and improve the economic efficiency of enterprises.
The financial management of the enterprise economic efficiency is very important and far-reaching impact on enterprises to firmly establish the concept of financial management, emphasis on the financial management of funds management capabilities, cost control functions, management and supervision functions, so that enterprises in control of the cost of the product based on guarantee of good management and supervision system, constantly to develop themselves, so as to improve the economic efficiency of enterprises.
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