The Phenomenon Of "Four High" In Financial Structure

In the financial activities such as fund-raising, investment, capital recovery and income distribution, because of the uncertain factors, there will be a certain deviation between financial income and expected revenue, that is, financial risk.

The "four high" phenomenon in the financial structure of enterprises, the "one high" debt ratio, the "two high" creditor's rights, the "three high" non-performing assets ratio, and the "four high" legal proceedings are wary.

The phenomenon of "four high" appearing in the financial structure will inevitably constitute a very high business risk and financial risk, and pose a threat to the continuous operation ability of enterprises.

The reason is that there are external causes and historical problems left over by changes in the market environment, intensification of competition, structural adjustment and technological progress, but to a large extent, due to inadequate internal management of enterprises.

One is the confusion of management.

Lack of overall coordination between procurement, production, sales, finance, market forecasts and other links resulted in serious loss of assets such as receivables and inventories.

Lack of scientific planning for capital structure and high cost of financing raise the proportion of debt and increase financial risk.

Two, financial decision making is wrong.

Some enterprises experience decisions and make serious decisions. When conducting investment decisions, they do not conduct in-depth market research and scientific argumentation, invest blindly, and form bad assets or huge losses.

Three, the risk awareness of financial managers is weak.

Four, the internal control mechanism is absent or the system is not implemented.

The supervision system of some enterprises is not strict, the internal audit is not perfect, the system of asset loss responsibility investigation is lack, and the financial discipline is ignored, and the financial risk is very easy to happen.

The phenomenon of "four high" has become a threat to the normal operation of enterprises, and strengthening governance is inevitable.

In addition to enhancing the ability to deal with changes in the market environment and solve problems left over from history, enterprises should also strengthen internal management, strictly guard against "four heights" and defuse financial risks.

First of all, we should enhance the awareness of financial risks and reduce the subjective financial risks.

Financial managers must take risk prevention throughout the financial management work, seriously financial discipline, improve the quality of accounting information, and ensure the authenticity of accounting information.

Leaders of enterprises should strengthen scientific decision-making and collective decision-making, abandon experience decision-making, and make decisions such as "making decisions", so as to reduce the risk of financial decision-making.

Secondly, we should take finance as the core to form a chain of operation and coordination among all links such as procurement, production, sales, finance, market forecast and so on. Which links will have problems and be reflected in time to finance and play the role of financial risk warning.

Third, we should rationally define the capital structure and control the scale of debt.

Debt management can enable enterprises to raise funds quickly, enhance economic strength and raise the level of equity capital gains, but at the same time, it also brings greater risks and bankruptcy to enterprises.

Therefore, the scale of corporate borrowing must be controlled within the limits of control so as to avoid the outcome of "flying eggs".

　　第四应未雨绸缪，可考虑建立类似财务风险基金的应对机制，以备不时之需。也可把已经造成的损失分批计入经营成本，尽量降低其对正常经营活动的影响。