A Study Of Internal Financial Control Problem Of Tianjin Petrochemical Company

Actualities and existent problems of internal financial control in state-owned enterprises especially in large and medium enterprises in my country are studied, and the resoluble projects to these problems are brought forward in this paper.Risk theory and internal financial control theory are analyzed specifically. Then the structure of internal financial control in enterprises is set up. The illuminable and instructional effect to enterprises putting financial control in practice is provided by this structure. The theoretic foundation and practical reference to state-owned enterprises in my country strengthening management and internal control is provided by this structure too. The study in this paper is summarized that the existent problems are analyzed and studied, took Tianjin Petrochemical Company as background, from financial control procedure, internal capital control, budget control, financial risk control, fiscal control system, financial information and internal audit. The corresponding resoluble projects are brought forward, took background of petrochemical industry, characteristics of Tianjin Petrochemical Company and practice of internal financial control in the company into account. The projects are set forth as follows. 1. Consummate managing structure and normalizing financial system; 2. Set up fiscal target control system which is took fiscal budget as emphasis; 3. Set up fiscal decisions control system which is took big capital projects as emphases; 4. Set up fiscal risk early warning system and capital control system; 5. Establish financial employees control system through appointing CFO in subsidiary company; 6. Set up fiscal supervision system which primary points are financial checking and internal audit; 7. Establish fiscal information control system through fiscal reports and fiscal network.It is expected that the targets of making managing organization smoothly, consummating control system and improving internal managing abilities in enterprises as quickly as possible are achieved by applying and consummating internal financial control system of Tianjin Petrochemical Company.