Study On Internal Control In Sales And Receivables Circulation Central China Branch Of Sinopec Chemical Commercial Holding Company Limited

As the market economy develops, enterprises face increasing pressure. As an important part of the business operations process, sales and receivables cycle related to the company’s profitability and sustainable development, has become the focus of attention and management of enterprises. Central China Branch of Sinopec Chemical Commercial Holding Company Limited was established on August8,2008, and the duration of its operation is only5years. In view of the establishing time of the Central China Branch of Sinopec is relatively short, the construction and implementation of internal control of the sales of chemical products are relatively weak, construction and perfection of the internal control system of the Chemical Sales Branch are desiderated. In order to effectively control the risk of sales and collection link and perfect internal control measures, the article is aimed at the basis of the current internal control management system of sales and collection cycle of the Central China Branch of Sinopec Chemical Commercial Holding Company Limited, combining with Operating Manual of Internal Control of Petroleum and Petrochemical Industry (Exposure Draft) published by the Accounting Department of Ministry of Finance, further strengthening and perfecting its construction of internal control system and improving the management level of internal control, providing guidance and example for Central China Branch and the whole Sinopec Chemical Commercial Holding Company Limited for improving the management level of internal control of sales and collection cycle, realizing the strategic aim of the sales company and improving the enterprise benefit.The thesis reviews the research of the impact and effect of internal control, and sales and receivables cycle, introduces elements of internal control and necessity of sales and receivables cycle; Then based on the COSO Internal Control Integrated Framework, analyzes the problems that exists in the internal control of sales and receivables cycle of Central China Branch, in the end points out improving measure during the construction and implementation of the internal control of sales and receivables cycle of Central China Branch, helps enterprise proposing Preliminary ideas to build and improve sales and receivables system of internal control.