Study On The Construction Contract Financial Management System Of COVEC

AS the prime business of the construction enterprise, Construction Contract has the features of long construction time, high valued and giant product. COVEC is a big international construction enterprise, its profit mainly attributes to Construction Contract. Thus, it is necessary to study the characteristics of Construction Contract to establish a fitting financial management system which can not only standardize its financial accounting, but also supervise and analyze the crucial financial data that will improve the financial management of COVEC.This paper mainly adopts the method of theory associated with practice. First, it demonstrates the related theory and financial accounting of Construction Contract. Then, according to the author's survey on COVEC, the paper analyzes the condition of COVEC's financial management system and its Construction Contract financial accounting. At last, Construction Contract financial management system of COVEC is established which can improve the financial management and accounting information quality efficiently by its five major functions..The innovation of this paper contains:(1) raises a better measurement to deal with Construction Contract's impairment and procedures to judge it. (2) a discussion on financial accounting of Construction Contract measured by foreign currency. (3) finds the key points to minimize Construction Contract's financial risk. (4) describes the Construction Contract's process in flow chart which is beneficial to realize the system on computer.