Research On The Centralized Management Of Corporate Funds Under The Financial Shared Service Model

Compared with the traditional management mode,under the financial shared service model,the enterprise accounting information is more authentic and the information transmission speed is faster.Studies have shown that the quality of accounting information is positively related to the efficiency of resource allocation.Therefore,this paper believes that the establishment of a financial shared service center is conducive to strengthening the construction of corporate capital centralized management strategy,optimizing resource allocation,and improving corporate capital management efficiency and operational efficiency.This paper firstly illustrates the importance of the financial shared service model and the centralized fund management model for the financial management of group companies through theoretical overview.Under the financial shared service model,the financial accounting work is separated from the daily operations of the enterprise,the accounting personnel are separated from the direct leadership of the management,and the quality of accounting information has improved.And the Financial Sharing Center,as the "database" of the enterprise,has a positive impact on reducing the cost of obtaining information on member units at the headquarters.The centralized management of funds is conducive to strengthening the monitoring of funds,strengthening the circulation of funds,and improving the efficiency of capital use.In addition,this paper also selects the fund collection rate,long-term capital debt ratio,transaction cost expense rate and resource allocation efficiency to conduct case studies,and quantitatively analyzes the impact of the financial sharing service center on the centralized management efficiency of Sinopec Group.Firstly,the centralized management efficiency of Sinopec Group's funds is compared with the other five central group.It is found that before the establishment of the financial shared service center,the concentration of funds of Sinopec Group is far lower than that of other enterprises,and the efficiency of centralized management of funds needs to be strengthened;Secondly,the vertical comparison of the centralized management efficiency of the Sinopec Group before and after the establishment of the shared service center shows that since the establishment of the financial sharing center,the concentration ratio of Sinopec Group has increased rapidly,the long-term capital debt ratio has decreased significantly,and the transaction cost rate has been reduced.Reduced,the loan-to-deposit ratio is optimized.Therefore,the establishment of Sinopec Financial Sharing Center promoted the construction of centralized fund management,enabling the Group to realize cash income and expenditure management information,transparency of financial information,and standardization of internal capital markets.However,under the current financial sharing model,Sinopec Group has problems in the centralized management of funds,such as the incomplete analysis of financial information data,the unreasonable control of capital resources,and the need to strengthen budget management and capital risk management.According to the above problems,this paper proposes the optimization suggestions for strengthening the database function of the financial sharing service center,expanding the financial analysis business,strengthening the construction of capital budget management,and strengthening the management of the treasurer.