Research About The Listed Company's Financial Policy Based On Cash Flow

Financial crisis toke place in Southeast Asia in 1997, giving people with deep apocalypse, numerous experts think that the source head of financial crisis is in the enterprise. The gearing ratio of Southeast Asia's company is " high and high at up", the bubble economy cause the mobility of funds very bad, resulting in the lower solvency, the bad property of bank is excessive, leading to the financial crisis eventually. Specially with the more and more mature of enterprise, becoming more and more magnificent, the structure being gradually complicated, the enterprise pays more attention to the cash discharge information because of the strong vitally relation between the cash flow and the existence, development of the enterprises. It is proved that the management and control of cash flow has become the key of the finance management. The financial policies include the policy of invest, the financing policy and the dividend policy. Because the solvency, marketability, the income quantity and the elasticity of finance under accounting on accrual basis do not consider the risk, do not consider the time value, have many subjective compositions etc., the people pay attention to these index signs under accounting on cash basis more and more. Based on cash flow as the basis for analysis, from the listed company's financial policy options as a starting point. This thesis elaborate which fiscal policy should be used only reasonable in the various stages of development and changes in the external environment,and argue if a specific listing of a company's financial policy is reasonable according to its cash flow situation, Conversely test whether reasonable financial policies are operable or not.