Application Of Flexible Financial Management In Coal Resource Integration

In recent years, the large-scale integration of coal resources and the merger andreorganization of coal mines are carried out in the relevant regional by the state industrialpolicies and the needs of coal industry’s development. At the same time, for the specialnature of the coal industry itself, the entire industry is entering a depth adjustment periodwith low growth and low profit. The coal enterprises are facing the deteriorating marketenvironment. The inventory remains high, the profits declines fleetly for the wholeindustry. With the situation, the traditional rigid financial management has not been ableto solve practical problems encountered by enterprises in the process of coal resourcesintegration, due to the lack of adaptability to the internal and external environmentchanges and other uncertain factors. But the flexible using of the theory, mode andmethod of flexible financial management, to implement management activities of theflexible financing, investment, working capital, the distribution of earnings actively, canmake up for the deficiency of the traditional financial management, promote the works ofcoal resources integration smoothly.The flexible financial management is a late start theory of financial management,proposed earlier in abroad. The related research began since the1990s in the country.The research content is more focused on the effects of flexibility to all aspects offinancial management, but the theory and practice of its research and application in coalenterprises, especially the research and the application in the process of the integration ofcoal resources is still very limited up to now. This paper starts from the concept andfeatures of flexible and flexible management such as management theory, analysesin-depth the content and the stage characteristics of flexible financial management in theprocess of integration of coal resources, and then from the objectivity of theimplementation of the flexible financial management for an enterprise of integration ofcoal resources, contrasts the effect of traditional rigid financial management, andmaneuverability, to demonstrate systematically the necessity of implementation offlexible financial management in the integration of coal resources.Based on the theoretical study, with the research object of the industryrepresentative---Jincheng Coal Mining Group, this paper introduces the basic companysituation, including history, resources, financial management system, current status ofresource integration etc., and then use the method of theory with practice, researches and analyses the enterprises’ status of implementation of the traditional financial managementin the process of the coal resources integration. And then based on the existing problems,the paper tries to explore and apply the way and the method of the flexible financingmanagement, including the contents of the flexible financing management, flexibleinvestment management, flexible working capital management, flexible incomedistribution management, and the construction of financial system and high-quality team.It is in line with the actual needs of the enterprise, can adapt to environmental changes,and further promote the integration of coal resources work with high efficiency.