First, the characteristics of the financial management of chain operation enterprises
The characteristics of the financial management of chain enterprises are related to the characteristics of chain operation and management, mainly including the following four aspects.
(1) Unified accounting and hierarchical management
Unified accounting by the chain headquarters is the core content of the many unifications of the chain operation. Regional chain enterprises shall be accounted for by the headquarters; cross-regional and large-scale chain enterprises may establish regional regional headquarters, which is responsible for accounting for the stores in the region, and then the headquarters shall account for the regional headquarters. The main contents of the unified accounting of chain enterprises are: payment and settlement of purchase payments; settlement of sales payments; and fund raising and allocation. Stores generally do not have full-time financial personnel, the store and the headquarters in the same area, the headquarters unified tax registration, pay various taxes on the spot; the store and the total part of the cross different regions, the sub-headquarters of the region to the local tax authorities to handle tax registration, pay a variety of taxes on the spot. Regional regional headquarters shall regularly report to headquarters on the operation, financial status and implementation of various systems in each store in the region. In principle, chain enterprises should implement unified accounting when they are established, and enterprises with special circumstances may gradually unify accounting in stages and steps in the early stage of implementing chain operations.
(2) Separation of ticket flow and logistics
Chain enterprises implement unified accounting of headquarters, unified purchase and unified distribution by the distribution center, from the process point of view, ticket flow and logistics are separated, which is very different from the synchronous operation of funds and commodities in single-store operation. Therefore, the financial department of the chain enterprise should maintain close contact with the purchase department, and the financial department should carefully check the tax invoices and signature vouchers transferred by the purchase department before paying the payment for the goods, and at the same time, in the financial system, the corresponding signature effective authority corresponding to the payment amount should be restricted.
(3) Unified operation and improvement of efficiency
As chain enterprises have implemented unified operation and management, the degree of organization has been greatly strengthened, and the scale benefits can be better brought into play. Unified purchase and distribution by the headquarters can reduce the cost of purchase; unified accounting by the headquarters, the implementation of unified management of funds, can improve the efficiency and effectiveness of the use of enterprise funds, increase profits; the implementation of assets and funds overall allocation, unified adjustment and financing, is conducive to the revitalization of assets, speed up the turnover of commodities and funds, improve economic efficiency.
(4) Reasonable apportionment and balance of interests
Chain enterprise profits are created by the cooperation of various departments and stores, chain enterprises the costs are jointly shared by the headquarters, distribution centers and stores, therefore, in the financial management of all parties to follow the principle of equal interests, risk sharing, consultation and cooperation to determine the costs and profits, can not rely on the sacrifice of each other's interests to obtain their own interests, in order to ensure the stable operation of the entire chain operation system.
Second, the content of financial management of chain enterprises
The main contents of the financial management of chain enterprises are four parts: capital management, asset management, cost management and profit management.
(1) Fund management
Funds are the "blood" of the operation of chain enterprises, and only by doing a good job in capital management and giving full play to the utility of funds can chain enterprises operate normally and in an orderly manner. The capital management of chain enterprises should mainly grasp the following aspects of work.
1． Strengthen the financing function to ensure the needs of enterprise expansion
Chain enterprises in the process of development to continue to open stores to achieve large-scale operation, which requires strong funds as a guarantee. Therefore, the financial management department of the chain headquarters should combine the operating characteristics and development policy of the enterprise, reasonably determine the amount of funds and the financing structure, control the cost of funds, and ensure the capital needs of enterprise development by absorbing direct investment, issuing stocks, issuing bonds, bank loans, financial leasing and commercial credit.
2． Establish a special settlement institution to improve the efficiency of the use of funds
Chain headquarters can set up "internal settlement centers" and other institutions, and grant them corresponding powers, so that they can effectively dispatch, coordinate and transfer funds, commodities and assets between their stores to improve the efficiency of capital use.
3． Standardize the management system and strengthen financial monitoring
First of all, according to the principle of combining the unified use and authorized use of the headquarters, the establishment of a fund management system, the clarification of the headquarters and the store's capital management authority, the implementation of hierarchical management. Second, on the basis of a clear division of labor at all levels, links and posts of the chain system, it is necessary to establish a mechanism of mutual contact, mutual assistance, mutual supervision and mutual checks and balances to prevent mistakes, plug loopholes, and improve efficiency. Finally, it is necessary to establish a financial monitoring system and implement all-round supervision, control and guidance for the movement of funds to ensure the safety of funds.
4． Actively promote the input-output analysis system
Investment is an important part of the capital management of chain enterprises. In order to improve investment efficiency, chain enterprises should strengthen investment decision-making and investment project management, establish an investment responsibility system, and actively implement the input-output analysis system. To this end, the financial department should work closely with the planning and development departments, and strive to reach consensus on determining the scale and investment of stores, distribution centers, computer systems, etc., so as to improve the return on investment.
(2) Asset management
Assets refer to items with monetary value held by chain enterprises, which include two major parts: current assets and fixed assets. Current assets are mainly composed of cash, inventory and accounts receivable. Fixed assets are composed of houses, warehouses, equipment and facilities of greater value and longer use. The asset management of chain enterprises implements a hierarchical management system of headquarters and stores.
1． Management of liquid assets
The management of the current assets of chain enterprises should mainly start from the following three aspects:
(1) Formulate a cash management system and strengthen cash management. At this stage, most of China's chain enterprises are in the commercial and trade service industry, cash receipts and expenditures are frequent, the number is large, the scope is widespread, and cash management is in an important position in the financial management of chain enterprises. To strengthen cash management, one is to formulate a cash management system and standardize management behavior; the second is to compile cash operation processes and strictly follow the operation norms for cash receipts and expenditures; the third is to strengthen the custody of cash and bills, prevent the loss of cash, and ensure that the accounts are consistent.
(2) Inventory management. In the chain enterprises, the proportion of inventory in current assets is often as high as more than 60%, and the degree of inventory utilization is good or bad, which has a great impact on the financial situation of the enterprise, so strengthening the planning and control of inventory and keeping inventory at the optimal level has become a very important part of financial management.
To strengthen inventory management, first, the structure and scale of inventory should be reasonably controlled, the quantity is too large or the structure is unreasonable, it will cause inventory backlog, resulting in an increase in inventory costs; second, we must take a variety of measures to reduce procurement costs, storage costs and out-of-stock costs to control the total cost of inventory; the third is to strengthen commodity sales management, actively carry out various promotional activities, and accelerate the speed of commodity turnover to reduce inventory costs.
(3) Management of accounts receivable. With the development of the market economy, the intensification of market competition and the use of commercial credit, accounts receivable account for an increasing proportion of the current assets of chain enterprises, and the management of accounts receivable has become an important issue in the management of liquid assets. Chain enterprises can strengthen the management of accounts receivable by carrying out customer credit investigations, analyzing bad debts of accounts receivable and extracting bad debt provisions.
2． Management of fixed assets
In the direct chain, the fixed assets of the chain enterprise are generally accounted for by the headquarters, the depreciation is uniformly calculated by the headquarters, and the stores are not apportioned. Each store sets up a fixed asset detail physical card, which is registered by a special person and regularly inventoried to ensure that the property card is consistent. The procurement, purchase, allocation and scrapping of fixed assets are all managed by the headquarters, and each store has no right to dispose of it by itself. In franchise chains and voluntary chains, since each store has independent property rights, the fixed assets are managed by each store itself.
The fixed asset investment of chain enterprises is recovered through depreciation. In general, the accelerated depreciation method can be used to implement, that is, more depreciation in the early stage, less depreciation in the later period, and the depreciation amount accrued in each period is gradually reduced with the passage of time for the use of fixed assets. This method can recover most of the value of fixed assets at an early stage of use, which can not only reduce the losses caused by the early scrapping of fixed assets due to their technical obsolescence, but also avoid the impact of some uncertain factors in the future.
(3) Cost management
The cost management of chain enterprises is mainly controlled by the three major indicators of commodity gross profit margin, expense standard and scope, and sales expense rate, and the cost accounting and hierarchical management are uniformly carried out by the headquarters. The main contents are as follows:
1． Reasonably determine the standard and scope of expenses
This is the basis of cost management, chain enterprises should be on the basis of investigation and research, according to the actual situation of the enterprise and the market conditions to reasonably determine the scope of expenses and expenditure standards, never allow arbitrary expansion and exceeding standards. In particular, the chain headquarters should strictly control its own expenses and play an exemplary role for each store.
2． Strengthen budget management and implement plan control
First of all, chain enterprises should do a good job in the budget management of the expense rate, stipulate the cost rate standards of the headquarters and each store, and implement strict plan control; secondly, they should do a good job in the budget management of the gross profit margin, and conduct a regular assessment of the comprehensive gross profit margin of each store according to the plan, especially the assessment of the gross profit margin of key commodities; finally, the headquarters supervision system should be established, and the stores that cannot reach the budget plan target should help them analyze the reasons and propose adjustment and improvement measures.
3． Implement cost decomposition and implement it layer by layer
The costs of chain enterprises mainly include two categories: indirect costs and direct costs. For indirect costs, it is necessary to decompose the costs and try to allocate them to each store or commodity type, and for the cost items that cannot be directly determined and apportioned, the proportion of each store's total salary, the proportion of assets, or the number of employees and operating area of each store are apportioned to the store or commodity type. For direct expenses, it is necessary to link with the economic interests of the store manager or employees to reduce the cost level of the chain enterprise.
(4) Profit management
The profit management of chain enterprises mainly includes three aspects: profit accounting, income tax payment and net profit distribution.
1． Profit accounting
In chain operation, the chain headquarters is the decision management center, the chain store is the operation center, is the direct operating entity that creates profits, so strengthening the profit accounting of the chain store is the basis for ensuring the economic benefits of the chain enterprise. The main indicator of chain enterprises' assessment of store profits is the contribution of stores. The so-called store contribution refers to the balance of the store's main business income after deducting the cost and the amount of expenses incurred by the store, which is the contribution of the store to the headquarters. Because the net profit index of the store is affected by the change of the headquarters management expense, and the headquarters management expense is a project that the store cannot control, and even the operating performance of the store will be erased because of the waste of the headquarters management cost, the operating performance of each store can be reasonably evaluated through the analysis and assessment of the contribution of the store.
2． Income tax payments
According to the relevant provisions of the state taxation, where a domestic-funded chain enterprise sets up a directly operated store across regions, operates uniformly under the leadership of the headquarters, is connected with the headquarters microcomputer, and implements unified procurement and distribution, unified accounting, and unified standardized management by the headquarters, and does not set up bank settlement accounts or prepare financial statements and account books, the headquarters shall pay enterprise income tax to the competent tax authority in its locality; However, for franchise chain and voluntary chain enterprises, the tax payment place remains unchanged, and each independent accounting store still declares and pays income tax to the competent tax authority of the locality.
3． Net profit distribution
The balance of the total profit of the chain enterprise after deducting income tax is the net profit. Unless otherwise provided by the State, the distribution shall be carried out in accordance with the following procedure:
(1) Payment of financial losses confiscated, late fees and fines for payment of various taxes.
(2) Make up for losses in previous years.
(3) Withdrawal of statutory surplus provident fund.
(4) Withdrawal of public welfare funds.
(5) Distribution of profits to investors.
Third, the way to strengthen the financial management of chain enterprises
Strengthening the financial management of chain enterprises plays an important role in the survival and development of chain enterprises, and measures must be taken to reform and improve them.
(1) Establish a unified and perfect accounting system
It is very necessary for chain enterprises to strengthen financial management and establish a unified and perfect accounting system. The unified accounting of chain enterprises is to set up an "accounting center" with the functional departments of the head office and the affiliated chain stores as the unit, and the head office adopts the method of "accounting and bookkeeping" for various departments and stores to handle accounting and supervision business, and establish an accounting system that integrates accounting, supervision and service. All functional departments and stores are required to report the financial revenue and expenditure matters during the settlement period to the accounting center of the head office within the time specified in the system. The accounting center promptly examines the legality and rationality of various accounting matters, has the right not to accept the untrue and illegal original documents, returns the original documents with inaccurate records, incomplete acceptance and incomplete procedures, and requires the relevant personnel to correct and supplement them in accordance with the provisions of accounting standards, systems and internal control systems of enterprises. The store manager or unit leader of the chain store shall review the daily statement data, contact the accounting center in time for abnormal and special matters; or set up a special bookkeeper to register the store's "sales revenue", "inventory goods", "current payments" and other accounts, and report to the accounting center and reconcile the accounts within the specified time.
(2) Implement comprehensive budget management
The comprehensive budget is to bring all the business activities of the enterprise into the scope of budget management, and the main practice is to make a comprehensive analysis of the implementation of the financial budget of the current year at the end of each year. On this basis, the headquarters of the chain enterprise, together with the relevant departments and stores, will study the enterprise goals for the next year, and then revise and supplement according to the reported business budget and the special decision-making budget, prepare the first draft of the financial budget, and finally be issued by the general manager's office after approval. For important budgets, capital budgets and capital budgets, such as the upgrading of fixed assets, the redecoration of stores and other large-scale capital expenditures, it is generally necessary to evaluate the project budget according to the company's annual overall plan, and bring together the multi-party forces of engineering design, store operation and financial planning to analyze. At the same time, chain enterprises can strengthen management by combining the management of authority management in the financial budget and the reporting system for important projects. Authority management is to set up approval management authority for investment projects, expenses, and purchase of goods on the basis of a comprehensive budget. Through authority management, economic responsibility can be implemented, the sense of responsibility of store leaders can be improved, and the realization of budget goals can be ensured. The important project reporting system is mainly applicable to the chain stores, the content of the report is the cost expenditure, stipulating that all extra-budgetary expenses are reported to the headquarters for approval, and the costs that belong to the headquarters monitoring in the budget, such as advertising costs, repair costs, etc., are reported according to the company's cost management measures, and can be spent with the consent of the headquarters.
(3) Strengthen cost and expense management
The cost control of chain enterprises should run through the whole process of cost and expense formation. In the logistics process of goods from suppliers through the chain enterprises and finally sold to consumers, the purchase costs, storage costs, transportation costs, sales costs, management costs, etc. will be incurred. Only when the cost of each department and each link in the chain enterprise is effectively controlled, the cost of the entire enterprise will be significantly reduced. For example, inventory management, chain enterprises should strengthen internal constraints, optimize the inventory structure, establish and improve the purchase responsibility system, inventory commodity periodic reporting system and inventory structure analysis system, and implement comprehensive monitoring of inventory commodities to compress capital occupation and reduce inventory costs.
(4) Strengthen informatization construction
Chain enterprises to achieve enterprise management informatization, to financial management information construction as the core and entry point, through the establishment of financial management information system, strengthen the store and franchisee financial management and capital monitoring, not only can strengthen the system constraints, prevent capital risks, plug the loopholes of capital loss, at the same time can do information sharing, avoid statistical data and financial information distortion, is conducive to the enterprise headquarters to develop a scientific and reasonable development strategy. The financial management informatization of chain enterprises is based on the establishment of a centralized and unified financial management system, supported by the implementation of centralized internal unified financial software and the establishment of computer networks, with the establishment of enterprise financial settlement centers as the means, and with the centralized management of internal financial personnel of enterprises as the premise, through system integration to achieve a company account. Financial management informatization can eliminate the human factors in the implementation of the system to the greatest extent, use information technology means, set software programs, turn the management system and enterprise regulations into computer programs that everyone complies with and cannot be changed without authorization, and use programs to regulate the behavior of all people through computer authorization to ensure the implementation of the system.
(5) Strengthen fund management and improve the efficiency of use
The traditional model of subsidiaries managing funds by themselves will cause funds to be scattered and idle. To this end, chain enterprises should carry out the reform of the capital management system and implement centralized management of funds. The capital exchange between the headquarters and the subordinate stores can be realized by using the payment and settlement system of the internal settlement center, and the system of separating revenue and expenditure is implemented, so that income and expenditure are independent, unified revenue and expenditure are implemented, and scattered funds are concentrated. Then, according to the nature of the business activities carried out by the enterprise, the funds are allocated and the limited funds are used on the cutting edge to improve the efficiency of the use of funds.
(6) Establish and improve internal supervision, evaluation, reward and punishment mechanisms
In order to ensure the realization of financial management objectives and the effective implementation of the financial management system, chain enterprises must properly evaluate and supervise financial management activities, and establish the necessary internal supervision, evaluation and reward and punishment mechanisms, such as internal audit, performance appraisal and reward and punishment systems. The supervision and evaluation of chain enterprises can be continuous, individual, or a combination of the two. The content of supervision and evaluation mainly includes the rationality of internal control procedures, feedback from subordinate stores and franchisees, as well as reporting of internal control deficiencies and adjustments to policy procedures. At the same time, the internal control system, like all other systems, relies on strictly scientific punishment mechanisms, otherwise it may become a formality. Therefore, chain enterprises should establish a strict and scientific reward and punishment system and effectively implement it. Only in this way can financial management systems and measures be effectively implemented and the expected performance be achieved.