Management Of Accounts Receivable Of Y Petroleum Engineering Construction Company

With the rapid development of Chinese economy,the demand for oil is also increased;oil engineering construction enterprises have entered a rapid development stage,however,the overly rapid development results in many problems.In recent years,with the decline in crude oil price,more and more petrochemical enterprises emerge,the oil industry boom index reported in the first quarter of 2016 has shown that the situation in which the oil market supply will remain greater than the actual demand has not been improved,the competition among oil construction enterprises is becoming more and more intense,many enterprise usually applies advance project fund to improve the competitive power,the oil engineering construction enterprises have a longer duration,large project volume and high value,require a high degree of security,the machineries,large equipment,labor costs,materials,etc.in the construction process are a huge expenditure,there is a large amount of engineering money in the accounts receivable of enterprises,which leads to high accounts receivable.If the accounts receivable of enterprises can't work effectively,the asset status of enterprises will be affected seriously and the normal business activities of enterprises will face significant risks.Through the field study of Y petroleum engineering construction company,the article mainly from the company's organizational structure,the company's accounts receivable management system,accounts receivable financial data and debtor composition point of view,found that the company's accounts receivable management There is a low quality,recovery difficult and many other issues that the company should strengthen the overall management of accounts receivable and control.The Y company's financial data in-depth analysis of its accounts receivable and operating income growth,accounts receivable and related assets accounted for the situation and found that the company has a large number of accounts receivable can not be properly recovered,Customer arrears situation is quite serious,Y company accounts receivable turnover situation,also proved that its capital utilization rate is not high,the company a lot of funds deposited in the project money,can not be timely and effective use by enterprises;the same time,this article Combined with the Y company's current implementation of the accounts receivable management system and the debtor for analysis,found that the company's accounts receivable problems is the root cause of its accounts receivable lack of prior ex-post management,and finally this article for the Y company organizational structure and Accounts receivable related to themanagement of the program designed to improve the company's accounts receivable management level,and promote the efficient operation of the company funds for the healthy and sustainable development of enterprises lay a good foundation.