The Construction Of Comprehensive Budget Management System Of Company T Based On Value Chain

In June 2016,the Ministry of Finance issued the "Basic Guidelines for Management Accounting",which clearly pointed out the importance of management accounting.It holds that management accounting will help enterprises to strengthen budget management,internal management,and promote domestic economic transformation and upgrading.As an important part of management accounting,budgeting,in recent years,has also attracted widespread attention in domestic enterprises.As a mainstay of the national economy,machinery manufacturing industry has made certain achievement,but there are still many problems in its production and management which affect the stable of the development of machinery manufacturing industry.In the complex and changing economic environment,Chinese companies have long had to face the opportunities and challenges brought by the international market.Therefore,based on the analysis of value-added activities,the budget management system is developed.The external environment of the enterprise is integrated with its own business,and comprehensive budget management from the perspective of the value chain has gradually formed a more complete system,enabling the enterprise to better achieve the goal of maximizing its value.Taking T company as the research object,this article combs the literature research and field investigation,as well as the value chain and comprehensive budget,analyzes T company’s current comprehensive budget management,and finds that its budget organization is ambiguity of responsibilities,which has led to a disconnection between budget management and company strategy,and it is difficult for the control and evaluation system to mobilize the enthusiasm of employees.After comparing the budget of 2017 to 2018 with the actual financial data,it is found that the budget effect is quite different,which is difficult to guide the company’s operation.In response to the above problems,this paper takes the value chain analysis as the basis,and considers the bargaining power of its upstream suppliers and downstream customers in the vertical value chain.The horizontal value chain takes into account factors such as industry,competitors,and policies to integrate internal value.The analysis of the chain focuses on the division of the operation center of T’s business process.Combined with the actual situation of T company,a budget management committee was added when building a comprehensive budget management system.The budget specific goals were established from the four levels of the balanced scorecard.The budget preparation was carried out according to the operation center,and the principles and conditions for budget adjustment were stipulated.,Put forward internal and external assessment indicators of T company budget management.After the system construction is completed,whether the implementation of the T company system is still effective depends on the impact of internal control,management concepts and the degree of informatization.This article puts forward some guarantee measures.Through research,this paper constructs a comprehensive budget management system applicable to T company.In this comprehensive budget management system,through the analysis of the internal and external value chain of T company,the company should establish strategic alliances with suppliers to ensure the supply of raw materials,which can not only reduce costs,but also make up for market information asymmetry.Outsourcing some operations to optimize the internal value chain,optimize resource utilization and maximize company value;Grasp the current industry and market development,recognize the company’s competitive advantages over competitors,have a clear strategic positioning;Actively use the policy advantage,seize the opportunity,expand the business appropriately to meet the needs of the market,expand the sales channels.Based on the production capacity of T company,the comprehensive budget is prepared with the sales budget as the starting point.In the aspect of execution and control,this paper formulates specific adjustment and control principles.In addition,this paper proposes measures to ensure the effective operation of the company’s overall budget management from the perspectives of internal control,management concept and informatization.T company still needs to analyze and improve the internal control system and improve the relevant rules and regulations.Attach importance to budget in management concept,train staff to understand and participate in budget.Introduce comprehensive budget management information system to improve budget management ability.I hope to have some reference for the construction of comprehensive budget management system of T company and provide help for similar companies in the future.