Study On Optimization Of Financial Process Of Daqing Oil-field Company

Since China has entered WTO and Petroleum China has successfully got into the stock market both in USA and Hongkong, the situation brings about severe challenges on the finance of Daqing Oil-field company. Therefore, it is the main purpose of the thesis how to increase the efficiency of financial management in the corporation, strengthen the monitoring and control on finance as well as support from policy-marking, redesign the financial process which accords with the demands of modern enterprise's management, narrow the gap between the corporation, and foreign large oil corporations, direct the corporation, towards internationalization and modernization.The subject is divided into four parts. Part 1 mainly introduce the background of selective subject and the current status of study in world . Part 2 mainly describes the analysis on the current situation for financial organization of Daqing Oil-field Company, financial management information system and business process is analyzed and studied from value chain management point of view. It indicates the redundancy of financial management levels in Daqing Oil-field, imperfection of information system and complexity of business process, with results in the low efficiency of financial management and distortion of financial information. In Part 3, the value chain management theory, strategic management theory and the goal theory of financial management have been applied based on the redesign and optimizing of financial process of Daqing Oil-field Company and the reengineer of its organ. By means of optimizing the business process, perfecting and developing the centralized financial managementinformation system, pushing forward concentrated financial checking; reducing management levels and carrying out accountant appointment system, the efficiency of financial management in Daqing Oil-field Company has been greatly increased and supervision on finance and decision-making support function has been strengthened accordingly. Part 4 describes the analysis of prospective effect for reengineering financial process of Daqing Oil-field Company.On all accounts, we study through optimizing the financial process of Daqing Oil-field Company, eliminating the operations which only increase cost but not increase the value in the process, improving the activities which have a less value cost balance, so as to achieve the goal of simplifying the process, reducing the cost and improving the efficiency, and further reengineer of organ of Daqing Oil-field Company. Carrying out an accountant designation system, and eliminating the secondary and tertiary financial organization. This kind of organization structure is beneficial to make full use of the accounting supervision function, improving the quality of accounting information, preventing the loss of the state-owned assets to any great degree and enhancing the competitive of Petroleum China in international market.