企业现金流管理问题研究--以徐工集团为例.doc

摘要:在后经济危机时代，以现金流为中心的财务管理模式以其独特的优势正逐渐超越利润导向型的财务管理模式，越来越受到人们重视。现金流是企业的“血液”，同时也是企业发展的根本保证。现金流是否合理，不仅影响企业日常的生产经营，同时还影响着企业今后的长远发展、市场竞争力的提高以及盈利能力的增强。

　　　本文首先采用文献研究的方法，通过对收集到的文献资料进行归纳分析，对现金流及相关内容有了初步的了解。然后对现金流管理的理论进行系统的阐述。最后，采用实例分析方法，对徐工集团的财务数据进行统计分析，并根据分析结果对企业现金流管理的现状进行定性得出企业所处的生命周期为衰落阶段，在此基础上构建现金流量考核指标体系对企业的流动性、获现能力、财务弹性、偿债能力、盈利质量、现金流量结构进行分析，指出企业现金流管理存在的企业偿债能力不足、持有大量应收账款等问题，并提出采取包括加强现金流预算，严格内部控制制度，加强应收账款管理等相应优化措施进行现金流管理的改进。

关键词 现金流；现金流管理；比率分析

Abstract:In the post-economic crisis era, the cash flow as the center of the financial management mode with its unique advantage is gradually beyond profit oriented financial management mode, has been receiving more and more attention. Cash flow is the blood of enterprise, is also the fundamental guarantee of the enterprise development. Cash flow is reasonable, not only affects the enterprise daily production management, but also affects the long-term development of enterprises in the future, the market competitiveness and the enhancement of profitability.

　　　Firstly, literature research, have a preliminary understanding through inductive analysis of the collected documents, cash flow and related content. And systematic exposition of the theory of cash flow management. Finally, the case study method, on the the XCMG financial data for statistical analysis, and qualitative obtains the life cycle for the decline stage according to the analysis of the present situation of the enterprise cash flow management, based on the construction of evaluation index system of cash flow liquidity in the enterprise, ability to obtain cash, financial flexibility, solvency, profitability, cash flow structure analysis of quality, pointed out the existence of enterprise cash flow management enterprise debt paying ability is insufficient, holding a large number of accounts receivable and other problems, and puts forward the including strengthening cash flow budget, strict internal control system, strengthen the improvement should be the corresponding optimization measures of accounts receivable management, cash flow management.

Keywords  Cash Flow  Cash Flow Management  Ratio Analysis