Studies Of Some Problems In Financial Management In Daqing Oilfield Transnational Operation

Along with the rapid development of Daqing Oilfield overseas petroleum business, it becomes extremely urgent as to how to establish and perfect financial management system according to the international practice.This paper will begin from the history of financial management and position the starting point of financial management for international operation of Daqing Oilfield.The second chapter of the paper elaborates the certainty for Daqing Oilfield to operate overseas. In order to suit this situation, it is necessary to study the relevant financial management problems when operating overseas. The paper also describes the characteristics of the across country petroleum project investment.The third chapter systematically elaborates the organization structural form of financial management in transnational operation of Daqing Oilfield. It interprets the organization structural form. At present there are three types of financial management in overseas operation: centralized managing finance system, departments managing finance system and decentralized managing finance system.The forth chapter takes up a large place to elaborate the income distribution problem in transnational operation. Beginning from how to sign a contract between the mineral possessor, i. e. host country and the petroleum exploration & development company, it also studies the rights, duties and share ways between these two parts, and other relevant accounting matters.The fifth chapter studies the project audit problem in international operation of Daqing Oilfield, especially internal and external audit that exist in the above audit. Internal audit is the organic composition part ofcompany' s overall control system, and the higher level of control system, i. e.re-control of the control system. Another kind of audit is external audit, i. e. the government audit of host country.The sixth chapter concerns the stock control of the short period capital of Daqing Oilfield international operation. The goal of international cash management and domestic cash management is the same, but the former is more complicated than the latter. International petroleum company usually has two main methods to manage international cash: centralized management and speeding cash receipt and payment.The seventh chapter probes into the tax during the international operating of Daqing Oilfield. This chapter focuses on how to avoid tax legally.The eighth chapter of the paper discusses the risk and risk management in international operation project investment of Daqing Oilfield. Besides the inherent risks in petroleum exploration and development, every country (sometimes a certain area in the country) also has additive risk series. The decision makers of international operation of Daqing Oilfield must understandthese additive risks and assess the company's ability to fight again risks,so as that the company can make rightly investment decision.The ninth chapter raises some other problems happening in Daqing Oilfield transnational operation, such as the effect of foreign currency control on raising the earlier stage start-up capital in transnational petroleum operation projects, the arising problem owing to the departure of the signing legal body and the operating body in overseas engineering contracting projects, etc.Starting from the international generally accepted theory of financial management in international petroleum operation, and combined with mypractical work experience, this paper attempts to make some preliminary discussion and study on financial management in Daqing Oilfield international operation. I hope the tutor and every person of insight can make criticism and point out the mistakes.