V Oil Authority's Internal Control Of Monetary Funds

With society development and rapid economic development, competition among enterprises gets fiercer. Competent internal control could make an enterprise more competitive and profitable, which draws attention of enterprises at home and abroad. With high liquidity, high risk and low safety, cash operates as the blood of an enterprise. Therefore, internal control of cash is an important component of the entire internal control system. In order to avoid loss of cash and improve the efficiency of the fund during management, it's meaningful to strengthen research on both theory and practices of cash internal control, which also help regulate the whole internal control system.Based on the general theories of cash internal control, this thesis did a research on the cash internal control of V Oil Management (VOM) company according to the actual practice. Firstly, theories of cybernetics, modern management, principal-agent, game and risk management were summarized to prepare the theory foundation of the whole paper. Secondly, the status of cash internal control in VOM company was analyzed from its cash flow activities and characteristics, management process and regulations of internal control system aspects. Then, problems on bank accounts management, cash budget and final account, financial risk alert and so on in the internal control process were identified. Further analysis on the reasons for the problems was taken. Risk Oriented Cash internal control system was suggested to optimize the original system. The necessity, objectives, principles, routes and contents of the system were studied then. In the end, suggestions to improve the cash internal control of VOM company were put forward from control environment, control system and control process aspects.