Research On Cash Flow Management Of YH Manufacturing Enterprises Based On Value Creation

The cement industry in China has seen a number of enterprises with large profits but due to insufficient cash flow led to bankruptcy and liquidation,enterprise management began to pay attention to the management of cash flow.More and more enterprises take maximizing enterprise value as the management goal,and how to realize enterprise value creation has become a key topic of management attention.Cash flow management from the perspective of value creation has become more and more important.This thesis selects YH manufacturing enterprise as a research sample,compares relevant literature at home and abroad,and under the guidance of relevant concepts and theories,elaborates and analyzes the current situation of cash flow management of this enterprise in terms of budget,flow,flow rate,process and risk through the methods of financial index analysis and comparative analysis.The analysis finds that the current cash flow management of the enterprise is not integrated with the enterprise strategy,the cash budgeting is not rigorous and the system is not sound,the efficiency of the use of funds is low,the cash flow process lacks supervision and control,and the cash flow management is lagging and reactive.Further,the article optimizes the cash flow management of YH manufacturing enterprises from the perspective of value creation.On the basis of establishing the awareness of cash flow management based on value creation,cash flow management should be based on corporate strategy,and the free cash flow model is introduced to analyze and adjust corporate strategy.In terms of budget management,cash budget allocation is reasonably made from the perspective of enterprise value through the preparation of EVA budget table,and the budget performance appraisal system is added to make the enterprise budget management more complete.As for flow management,it realizes cash flow stock control through optimal cash holdings and focuses on cost control to realize incremental cash flow control.For flow management,we propose to increase the cash turnover period to analyze and improve the cash flow rate from an overall perspective.In terms of process management,a special internal control management department is established and relevant assessment rules are formulated for cash receipts and disbursement positions.In terms of risk management,a risk early warning system was set up using a risk early warning model for the enterprise,hoping that the enterprise can anticipate and utilize the risk through the system and seek the initiative of cash flow management.It provides some ideas for the optimization of cash flow management of YH manufacturing enterprises,and also provides some thoughts for the cash flow management of other enterprises based on value creation.