Research On The Modle Of Cash Pooling

It is an important issue how the corporation group constructs the mode of internal cash management and monitors cash operation powerfully from the traditional to the modern mode of cash management, when the economical system and the reform is advancing. Now, a lot of Chinese corporation groups have put the centralized treasury management into practice and formed characteristic operational mode. But the monograph of the centralized treasury management about theories and method system is fewer. It is necessary that we sum up experience, advance financial theory and build the mode of cash management adapted to modern business environment.The dissertation is based on the process redesign theory and value chain theory and the theory and practice of cash management. Firstly, the dissertation begins with literature review of centralized treasury management, then points out the shortage and limitations. Secondly, we redesign the mode of cash management based on the process redesign theory and value chain theory and sum up basic frame of cash pooling. Thirdly, we introduce how to set up the cash account, process of cash budget, process of cash settlement and process of cash control. Then we point out the advantages of cash pooling and many problems when begin to build cash pooling. Fourthly, we introduce the process and result of the PetroChina Company Limited building cash pooling. The cash pooling can provide reference for enterprises which want to build centralized treasury management. The model can help enterprises make clear about centralized treasury management developing orientation, formulate effective and applied strategy of centralized treasury management, select rational route of information technology developing, and solve diversified key problems therein.