| China’s tobacco industry is a monopoly system, which has a clear character ofpolicy guidance. However, with the deepening of market-oriented reforms, thetobacco industry is facing with the innovation of internal control system to maintainits competitive advantages in business performance. Monetary funds run through thewhole process of business operating activities. Holding monetary funds is a necessarycondition to maintain the normal operation and development of an enterprise. Due toits high degree of liquidity, monetary funds have a great risk of being stolen orcorrupted by lawbreakers. Therefore, internal control system of monetary fundsshould be viewed as the key to the whole internal control system. Building a soundinternal control system of monetary funds is particularly important to ensure abalanced and effective monetary funds flow.ZJJ Tobacco Company, as a representative of the tobacco business enterprises,has developed very well in recent years. But there are still risks and weaknesses in itsmonetary funds internal control system. Based on the study of relevant literatures andthe characters of ZJJ Tobacco Company’s cash business processes, the study is carriedout from three categories, as budget and allocation, receipt and payment, internalsupervision and evaluation. Oriented by the effectiveness goal of internal control andcombined with the new electronic payment environment, this paper first investigatesthe existing condition of ZJJ Tobacco Company’s monetary funds internal controlsystem; then an analysis is made on the existing problems; finally, some improvementmeasures are proposed. Including strengthen the monetary funds monthly budgetmanagement and improve the risk management of electronic payment.Analyzing the existing problems and proposing solutions can not only strengthenZJJ Tobacco Company’s monetary funds control ability, but also set a good examplefor the internal control improvement of China’s tobacco industry. |
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