1、 广西工学院 毕业论文 外文翻译 院 别 财经学院 专 业 财务管理 班 级 财务 083 班 学 号 200800706093 姓 名 王晓婷 指导教师 甘 平 2011 年 4 月 13 日 A Financial Control System that Focuses on Improvement and Success Of course, we are not saying that businesses should ignore prudent controls over their cash drawer. The point is that focusing on small
2、 components while not knowing how much cash is tied up in receivables does not represent a control system that recognizes priorities and risk. Focusing solely on the rote and mundane does little to improve your overall financial performance. Financial control systems shouldnt just be about complianc
3、e, they should be about continually improving key aspects of the financial operation such as: Regularly reviewing and improving the overall capital structure. Using a capital plan to minimize the cost of capital while strengthening the Debt/Equity position. Managing working capital so excessive inve
4、ntories and receivables do not sap financial resources. Ensuring proper calculations and scenarios are explored while making debt/investment or leasing decisions. Maximizing returns while minimizing costs for cash and merchant accounts. A control system of well-defined processes is not only about co
5、ntrol or compliance, it is also about consistently striving to do a little better. Control systems that are designed only to achieve compliance are doing the bare minimum, and they represent a missed opportunity to gain improvement and a competitive edge. And that should be enough reason for any siz
6、e and type of company to think about using a continual improving process approach to creating a financial internal control system. Sox is nice； but continual improvement is better for everyone. Financial control of projects Purpose: Established and effective cost control systems and procedures, unde
7、rstood and adopted by all members of the project team, entail less effort than crisis management and will release management effort to other areas of the project. Fitness for purpose checklist: The prime objective of the governments procurement policy is to achieve best VFM. To exercise financial/co
8、st control, project sponsors need to review and act on the best and most appropriate cost information. This means that they should receive regular, consistent and accurate cost reports that are both comprehensive in detail and presented in a manner that permits easy understanding of both status and
9、trends. Reports need to be tailored to suit the individual needs of each project and should always be presented to give a comparison of the present position with the control estimate. Reports to project sponsors normally give only the status of the project overall. But sponsors will on occasion need
10、 to monitor costs against a specific cost centre in more detail. The typical contents of a cost report are given in Annex A. Tables of figures are essential, but for rapid understanding and analysis of trends some graphs are helpful. Suggested content: The following aspects should be addressed in a
11、financial report (rather than repeating detailed information available in earlier reports, later reports can summarise the key points and cross refer to the relevant earlier reports): development of budget original authorised budget new budget authorisations (giving justification for changes) curren
12、t authorised budget expenditure to date (Each section on budgets and expenditure should address the original base estimates and risk allowances for each element) commitments agreed variations (giving justification for variations) potential/expected claims or disputes awaiting resolution (if the proj
13、ect is going well, this area should be small) commitments required to complete orders yet to be placed variations pending future changes anticipated. Each of the following cost elements should be covered: in-house costs and expenses (including all central support services, administration, overheads etc) consultancy fees and expenses (design, feasibility, client advice, legal, construction management, site supervision etc) land costs way leaves and compensation demolition and diversion of existing facilities new construction or refurbishment costs operating costs
