基于价值创造的LN联通通信公司现金流管理研究

发布时间：2018-08-19 06:27

【摘要】：企业价值是指企业持续经营的价值,其价值的判定也可以被称为以收益模式确定的企业整体资产。从某种意义上来说,利润也是企业价值的一种体现,因为利润来自于现金流量,所以企业的长期利润与其现金流量在一定程度上具有一致性。当为企业创造价值的目标与现金流的管理相碰撞,又会擦出怎样的火花?通过查阅文献、搜集资料发现价值创造理论与论文的研究对象相匹配,因此论文将以此为理论依据对LN联通公司的现金流管理体系进行优化和改进。论文是以现金流危机同企业生存发展息息相关为背景,引出以现金流管理为研究对象,并对其进行价值创造角度的优化和改进等一揽子的写作过程。首先,论文介绍了现金流、现金流管理的相关概述作为文章的理论依据。其次,依照LN联通公司现金流各个管理体系的管理现状,指出对应存在的问题。然后,在现有现金流管理体系的基础上对LN联通公司进行改进和优化。其中战略层面现金流管理是新增的管理体系,目的在于使企业现行的现金流管理更加完善和全面,通过将战略性现金流管理策略引入实体自由现金流量模型;在现金流预算管理体系中加入经济增加值的元素并对企业预算的编制进行着重优化,使得预算编制同企业创值目标相结合;现金流量管理体系是在原有仅分析现金流量表的基础上增加现金流量表与资产负债表和利润表的结合分析,使其分析更加完整;优化后的现金流流速管理体系将原来分别分析的存货、应收账款、应付账款周转期结合起来,引出现金转换周期的概念,使之与现金流的流速相匹配;改进后的现金流流程管理体系在原有流程管理体系的基础上加入风险预警模型,并且对流程管理中的内部控制管理进行重新分类并以货币资金为代表构建内部控制矩阵。同时,论文剖析了企业所处的内外部环境,判断了企业在宏观趋势和产业趋势的发展前景,提出了实施现金流管理的前提条件,并且针对不同的管理体系提出不同的保障措施以保证现金流的科学管理和有效控制。最后,得出论文结论、总结研究不足。
[Abstract]:The enterprise value refers to the value of the enterprise's continuous operation, and the judgment of its value can also be called as the whole enterprise assets determined by the income model. In a sense, profit is also a reflection of enterprise value, because profit comes from cash flow, so the long-term profit of enterprise is consistent with its cash flow to a certain extent. When the goal of creating value for the enterprise collides with the management of cash flow, what kind of sparks will come out? Through consulting the literature, we find that the theory of value creation matches the research object, so the paper will optimize and improve the cash flow management system of LN Unicom based on this theory. Based on the background that cash flow crisis is closely related to the survival and development of enterprises, this paper draws out the whole writing process of cash flow management, which is optimized and improved from the perspective of value creation. First, the paper introduces the cash flow and cash flow management as the theoretical basis of the article. Secondly, according to the management status of each cash flow management system of LN Unicom, the corresponding problems are pointed out. Then, based on the existing cash flow management system, we improve and optimize LN Unicom. Cash flow management at strategic level is a new management system, which aims to make the current cash flow management of enterprises more perfect and comprehensive, through the introduction of strategic cash flow management strategy into the entity free cash flow model; Adding the element of economic added value to the cash flow budget management system and optimizing the enterprise budget making the budget establishment and the enterprise value creation goal combined; The cash flow management system is to add the combination analysis of cash flow statement, balance sheet and profit statement on the basis of only analyzing cash flow statement to make its analysis more complete. The optimized cash flow rate management system combines the original inventory, accounts receivable and accounts payable cycle, and introduces the concept of cash conversion cycle to match the flow rate of cash flow. On the basis of the original process management system, the improved cash flow process management system adds the risk warning model, and reclassifies the internal control management in the process management and constructs the internal control matrix represented by monetary funds. At the same time, the paper analyzes the internal and external environment of the enterprise, judges the development prospect of the enterprise in the macro trend and the industrial trend, and puts forward the prerequisite of implementing cash flow management. In order to ensure the scientific management and effective control of cash flow, different safeguard measures are put forward for different management systems. Finally, the conclusion of the paper is drawn, and the deficiency of the research is summarized.
【学位授予单位】：沈阳工业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F626.115

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