How to Do Financial Management _423

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How to Do Financial Management

Abstract: The emphasis on college financial management, financial management of universities to establish a scientific concept. On the use of university funds, multi-channel financing and investment activities, financial analysis and management

Keywords: college financial management, financing investment

First, the situation facing the financial management of universities

use of funds is usually included in university budget management within the State, with the establishment of market economy and accelerate the development, financial allocation University-based financial management system, major changes are taking place in .1, higher education is not compulsory, to a certain amount of training the educated costs have been widely accepted by society, non-university higher incomes increase the proportion of financial allocation; the same time a comprehensive university implementation of the policy of economic construction, from the higher authorities and enterprises access to scientific research and technology services revenue also increased significantly, university financial budget management system is bound to gradually change, the full allocation of business to non-accounting units with changes in .2 China's accession to WTO and the opening up of various markets, private colleges and universities, and other joint-stock ownership of a substantial increase in university. This part of the university most of the operation and financial management to take enterprise management model, the efficient running efficiency, optimize the allocation of social resources increasingly prominent role model to promote the university financial management to the international direction. the old tradition of college financial management concepts and methods will become increasingly unsuited to the rapid development of .3 university, new university accounting system reform, the new accounting system, The implementation of accounting methods, but also deepen the reform of financial management for the University paved the way. If the university as the accounting entity, the use of internationally accepted debit and credit accounting method, change the source of funds of funds and the balances of assets, liabilities, net assets, income and expenditure, adoption of new accounting balance formula and so on, all indicates that universities are facing enormous financial management, breakthrough, each accounting, researchers have long way to go.

Second, university financial management problems

Talents in University, although the place, but the act of financial accounting and management tasks of the finance department and other administrative departments, in the long-standing emphasis on the concept of management accounting of light and heavy departmental project budget and project control, light financing, investment and economic analysis of the phenomenon behind the university financial management system development. mainly the following aspects.

1, equipment and other fixed assets, pursuing big novelty; repeat purchase of assets, purchase of assets idle,[link widoczny dla zalogowanych], widespread use of low efficiency; teaching experiment decentralized procurement of materials, low consumption goods, inventory management and other non-scientific.

2, less aware of financial funding. most of the universities, to focus only on to funds and to the financial charges to students, funds management, more short-term considerations. and how to state the requirements of the development of education and school development planning, trying to multi-channel financing to achieve leapfrog development of the school administrators are often overlooked. such as by bank loans, access to capital markets issuance of bonds and equity financing, the use of speed up receivables and payables management deferred financing short-term financing difficult to accept management.

3, intangible assets and human resources, finance incompatible with the world development trend of management. College is both a training base in China, but also research and development of one of the main force. a wealth of research and development of human resources, the formation of long-term research activities and other large part of the scientific and technological achievements can not reflect the state of economic activity in schools and information on the financial statements reflected. light application of scientific and technological research into heavy, heavy promotion of research and application of light paper, heavy into light output. the efficiency of capital investment compared with foreign advanced countries there is a wide gap between weak awareness of intellectual property rights.

4, in the management of monetary funds, pay attention to the general daily management of cash. on the monetary funds to predict and control the actual demand, currency funds deposited in different forms and to reduce the currency conversion cost of funds and other financial management is not enough attention. money or less idle, do not pay attention to the time value of money, money the higher the opportunity cost of capital.

5, heavy money is not heavy, state-owned assets losses and waste serious. Many school administrators, attaches great importance to cash management, payments strict, proper storage, timely access to correct something goes wrong. but teaching and research equipment, purchase of office furniture, fixed assets, poor management, custody, poor. serious asset losses.

three reasons for the weak financial management of universities of

weak financial management of universities for many reasons. The first is institutional, in the schools of the economic decision-making and economic issues discussed, the financial management participants are not high; run industries, general logistics and infrastructure secondary financial sector is often fragmented. capital flows and liquidity management of the property out of line for the smooth operations of financial management set institutional barriers; followed by the leader of poor financial management awareness, many universities have in place management section, but the staff is small, only a fraction of the accounting staff for one or a dozen. Its function is only staff title, bills and other administrative work. Again, allocated under the long-term use, allocating more and more with less allocated less funding allocation of financial accounting and management practices, is still profoundly affected the current university accounting and management. accountants are accustomed to afterwards other daily accounting of accounting and financial management in the small proportion of the work. Many of the university leadership attaches great importance to teaching and research, focusing on teaching and research grants for students and higher fees, but often ignore the school's , ignoring the school's teaching and research strength and reputation of the school funding a huge role in the efficient use of funds have been ignored. Many universities have such a phenomenon, in December of each year, spending has accelerated, the amount is huge. The reason a lot of , are all fully demonstrate the concept behind the college financial management and financial management concepts and methods behind.

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