An Empirical Research On Cashflow Managerment For Coal Enterprise

Cash flow is the "blood" of enterprise, only the smooth cash flow can make companies achieve sustained, stable development. But the cash flow management of companies is intertwined by business operation and management activities. It is the complexity and instability of management, which caused the imbalance of cash inflow and outflow. In pursuit of maximum balance and maximum net cash inflow, and thus make cash flew smoothly, it is necessary to enhance cash flow management of enterprise.From 2004, the government has stepped up coal industry restructuring efforts, group-operation has become the trend in the development of coal enterprises, in this trend, a mature and efficient cash flow management is needed to maintain the sufficient cash flow, not only for the merge activities, but also for the scale expanding. But because of historical reasons, coal enterprises lay little emphasis on cash flow, there are many problems in the cash-flow management, and thus serious constraints the efficacious use of cash flow and limiting the development of enterprises.Yitai Coal Co., Ltd.,as a large-scale private coal companies, will soon be available in the H shares. A healthy cash flow is needed to reduce financing risk ,achieve it's funding targets , and to calmly face the domestic and foreign financial markets. Therefore, the strengthening of cash flow management for coal enterprise determines it's performance in the capital market .This paper is divided into four chapters, the first chapter, introduction ,describes the related cash flow management concepts and theories, in the second chapter ,the anthor takes coal enterprises as an entry point ,and divided its development process into 4 life-cycle,start-up period, growth, maturity and decline phase. Then, based on cash flow data of 21 coal listed companies,the author analysize cash flow management status of the coal enterprises of. In the chapter three , after conducting a brief introduction of Yitai Coal Company Limited,then based on the last three-year cash flow statement, analysised it's cash flow management situation, accordingly arrived at the problems and causes. The fourth chapter ,which based on the analysis of the third chapter,study the approaches to improve the cash flow of coal enterprise from three areas :a strategic, tactical and early warning .