Study On Credit Policy Of Iron And Steel Enterprises In Shanxi Province

Based on the domestic and foreign relevant theories,this paper takes the credit policy of Shanxi iron and steel enterprise as the research object,and explores the development and implementation of the credit policy of Shanxi iron and steel enterprise from the perspective of enterprise management.The paper introduces the current market situation of the iron and steel enterprises in Shanxi Province,including the overuse of the credit sales method and the increasing balance of accounts receivable.Setting TISCO as an example,through the analysis of its financial statements to reflect the problems in the credit sales of the iron and steel enterprises in Shanxi province.Then,it analyzes the causes of the problems in credit sales management and puts forward the necessity of strengthening the formulation and implementation of credit policy in the process of credit sales.By studying the attempt made by a steel enterprise in the formulation and implementation of credit policy,the paper points out its achievements and the existing problems,provides a reference for the steel enterprises in Shanxi Province.Finally,it is pointed out that the iron and steel enterprises in Shanxi Province should strengthen the credit management in the process of credit sale,they should first formulate their own credit policy and then establish a special credit management department and make a clear division of the subordinate departments.At the end of the article,the paper gives concrete suggestions on how to control credit risk and reduce the loss of bad debts before,during and after the credit sales.