Centralized Management Of Aluminum Corporation Of China's Financial Status Quo And Countermeasures

Financial management of the enterprise group corporation has different features comparing to the singe system enterprise as a result of its complicated organization structure. Aluminum Corporation Of China Limited (CHALCO) is an overseas listed holding subsidiary of Aluminum corporation of China, including 11branches and 25 subsidiaries. It carries on the integrated financial management after referring the large scale foreign companies' financial management. With expansion of the enterprise scale, challenges facing the integrated financial management of CHALCO are management system, control basement and strategy management. It is time to think and investigate how to deal with problems existing in the integrated financial management of CHALCO and innovate to meet with the developing requirements.In terms of the above-mentioned questions, the following suggestions are put forward after studying financial integrated management model of CHALCO: strengthening the administration of branch's financial managers and board of directors to reduce administration levels; dividing content of accountant and financial after completing ERP project in CHALCO; introducing concept and procedures of "Activity-based Costing" with a deep cost management to make a new idea for the cost management of CHALCO; establishing financial company to manage tremendous cash flow and A share subsidiary, which not only strengthens the cash flow management of subsidiary, but also gathers fund and participates in buying and selling of shares by subsidiary belong to A share market to guard against harmful operation.