Research On The Improvement Of Responsibility Budget Management Of Minmetals Development Under The Guidance Of EVA Goal

With the continuous development of the economy,China`s economy is in a new normal state of steady growth.The survival and development of enterprises are facing severe challenges,the competitive environment is constantly changing,and management innovation has become an inevitable trend of enterprise development.However,the promulgation of relevant documents for management accounting and performance evaluation of central enterprises also highlights the important role of responsibility budget and value management ideas in enterprise management.For enterprises to achieve long-term development,they need to place responsible budget management in an important strategic position and introduce value management ideas.It will improve the company's budget management level,achieve management innovation,promote the realization of the company's long-term strategic goal and value creation,and enhance the company's overall competitiveness,thereby it can enable the company to effectively respond to the challenges of the new economic normal.In order to achieve long-term development,enterprises need to put responsibility budget management in an important strategic position,introduce value management ideas,improve management level,achieve management innovation,promote the realization of long-term strategic objectives and value creation,and enhance the comprehensive competitiveness of enterprises,so as to effectively cope with the challenges of the new normal of economy.Based on the theory of responsibility budget and value management,this paper analyzes the current situation of responsibility budget of Minmetals development.It mainly analyzes its goal setting,division of responsibility center and delineation of power and responsibility scope,responsibility budget execution and monitoring,responsibility budget preparation,responsibility budget assessment and evaluation,so as to find that the goal is short-sighted,responsibility center`s problems of inadequate implementation of responsibility,inadequate preparation of responsibility budget,weak control and poor effect of assessment and rewards and punishments are analyzed.The corresponding reasons are insufficient target value orientation,insufficient refinement of responsibility budget indicators,weak awareness of capital cost of responsibility budget preparation,inadequate relevant control mechanism,and failure to link responsibility assessment and rewards and punishments with EVA.Inview of the shortcomings of its responsibility budget management,the paper deepens the value orientation,combines EVA with responsibility budget,sets EVA as the goal of responsibility budget,analyzes the main value drivers of EVA,determines the responsibility budget indicators of each responsibility center,and refines the corresponding indicators.Each EVA responsibility center compiles its own budget according to its EVA responsibility,strengthens capital cost awareness and links responsibility assessment and rewards and punishments to EVA.At last,it implements corresponding safeguard measures to improve the responsibility budget management system under the guidance of EVA goal in an all-round and whole process.Through the optimization of the company's responsibility budget management under the guidance of EVA goal,the responsibility budget management tool has been improved.In the process of responsibility budget management,not only the ability of enterprise value creation can be improved,but also the realization of strategic objectives can be promoted.In addition,it is more helpful for Chinese enterprises to have a deep understanding of management accounting-related concepts and value creation theories.It provides references for the construction and upgrading of the responsibility budget management system in the transformation stage,and to promote the promotion,practice and application of EVA centered value management ideas and responsibility accounting management tools in more enterprises.