| Comprehensive budget management as a business in an important management method, since the early1900s in the United States after the companies began to use, all kinds of large enterprises gradually become standardized operating procedures. China’s enterprises by conducting management innovation, and actively explore innovative budget management, budget management generally established a working system in the enterprise budget effectively optimize the allocation of resources, improve operational efficiency, enhance the role of risk management and control, it is most effective implementation of boost integration of financial services companies achieve to budget management means to achieve business objectives, and help enterprises achieve sustainable development goals.State-owned system performance evaluation is an important state-owned enterprise management tool. November2003, the State Council, the SASAC issued the " central enterprises responsible person performance evaluation Interim Measures," began a large-scale, wide coverage by the investors of the regulatory enterprise performance evaluation. Performance appraisal system established, which greatly promoted the development of central enterprises. In the evaluation process, beginning in2010introduced economic value added (Economic Value Added, referred EVA) evaluation is undoubtedly a major shift in the direction of recent assessment, it will evaluate the state-owned enterprise performance to a new level, to promote state-owned enterprises continue to strengthen cost control, improve asset utilization, and increased investment in research to enhance the core competitiveness. This shift, making state-owned enterprises are no longer only emphasized the scale of operations, no longer only concerned with revenue, profits two indicators further shift tie balance sheet, in particular, the cost of capital controls. Vigorously promote the central enterprises in the SAC EVA assessment guide, the company’s operating philosophy will gradually turn from the profit-oriented value-oriented.In the state-owned system-oriented performance evaluation after the transition, to adapt to new performance evaluation requirements, state-owned enterprises responsible person for the first time concerns the financial balance sheet. EVA assessment objectives to achieve state-owned enterprises have strengthened the overall budget management. For a long time, the only large-scale assessment of the success or failure-oriented, so just focus on the central enterprises to develop a statement of historical concepts, budgeting, extensive budgeting process ineffective supervision, lack of enforcement of the budget system the long standing problem. New assessment situation, the enterprise existing budget management model has been unable to meet the assessment requirements of SASAC, budget and performance evaluation from the contradictions further highlight. Therefore, an urgent need to strengthen the comprehensive budget management, the development of scientific and effective budget system to further improve budget monitoring mechanisms, but refine the budget provisions and system, the formation of internal and external supervision and restraint mechanisms, the formation and performance evaluation oriented to adapt budget management mechanism, so as to effectively enhance corporate value.Based on EVA, comprehensive budget management study to power equipment manufacturing enterprises, for example, the performance evaluation and corporate budgets combined, the overall budget for the manufacturing enterprise performance evaluation system with an in-depth exploration, research EVA evaluation of the overall budget management of the enterprise impact, hoping for the future improvement of the overall budget management system accumulated useful experience, and promote state-owned enterprises to further deepen the comprehensive budget management, and gradually establish a comprehensive budget and an effective interface between value management mechanisms.This principle insists theory with practice, in accordance with a question-analysis of the problem-problem-solving ideas gradually, and the integrated use of theoretical analysis, classification and case study analysis and other methods for manufacturing EVA budget management and a certain degree appraisal research, combined with the actual situation on the DFGL company analysis, trying to explore the establishment of manufacturing enterprises EVA assessment and effective convergence comprehensive budget management system.This paper consists of7chapters, each chapter following major elements:Chapter1Introduction. Introduces the research background and significance of research ideas and framework, and briefly describes the methods of this thesis. This article from the domestic budget management and the EVA for Research, analyzes the overall budget management and the use of EVA status assessment, noting that the central enterprise comprehensive budget management mode and deviate from the performance appraisal target enterprise value management concept of problem, to further improve the EVA-based assessment and build a comprehensive budget management system improvement measures were proposed in order to achieve budget management and performance appraisal management organic convergence.Chapter2Research. Mainly from the research literature describes aspects of the central enterprises EVA assessment and comprehensive budget management can learn from the achievements and experience.Chapter3Theory. This article describes the EVA and comprehensive budget management basic content and theoretical basis, from the agency, transaction costs, contingency management, financial value management, residual income and other aspects of the EVA connotation analysis, in theory, supported the introduction of a comprehensive budget EVA management. Elaborated a comprehensive budget management is carried out based on EVA-oriented organic integration of different management methods. Then introduced the formula for calculating EVA content and accounting adjustments, EVA comprehensive budgeting system with basic features; went on EVA in the country’s development situation and China’s central business development requirements of a comprehensive budget management were introduced, how to adapt to the overall budget management EVA appraisal made a choice, noting that the EVA-oriented comprehensive budget management system will reduce agency costs, optimize the allocation of resources, so that the budget changes to adapt to environmental assessment plays an important role, to enrich and improve the budget management as value management tools functions and effectiveness of long-term goals to achieve effective docking with the enterprise.Chapter4is a manufacturing enterprise budget management and performance evaluation of the main problems and reasons for analysis. Based on the power equipment manufacturing enterprise survey, analyzed the power equipment manufacturing enterprises in the EVA assessment under the implementation of budget management, summarize the main issues and findings for strengthening the overall budget management in China. Thesis investigated for EVA’s understanding of the overall budget management understanding of the relationship between EVA and budget targets, EVA assessment under the center of gravity of the overall budget and other issues. The survey found there is power equipment manufacturing enterprises performance evaluation lack of connection with the business strategy, market and profit enterprises widespread heavy size, light R&D and capital costs, low level of information, performance evaluation incentives did not play very well in areas such as prominent problem. On this basis, the manufacturing enterprise comprehensive budget management and performance evaluation of the problems Cause Analysis:First manufacturing enterprise comprehensive budget management and performance evaluation system itself is flawed, the responsible persons prone to short-term behavior; Second, the responsible persons do not pay attention on the cost of capital; Third, the people in charge performance outcomes is difficult to be measured using quantitative criteria. Analysis of survey results on how we can improve power equipment manufacturing enterprises a comprehensive budget management provides a useful inspiration.Chapter5Building EVA-oriented electrical equipment manufacturing enterprises a comprehensive budget management system, basic assumptions Describes the power equipment manufacturing enterprises to build a comprehensive budget management system need to be considered, including manufacturing industry characteristics, the scale effect, the implementation of cost considerations, the quality of personnel requirements. On this basis, under the proposed assessment of the EVA power equipment manufacturing enterprises to build a comprehensive budget management system, the basic principles expounded power equipment manufacturing enterprises a comprehensive budget management system, the basic content. Finally, based on power equipment manufacturing enterprise’s business reality, from the basic meaning of the background, the main objectives of different factors to consider, built based on the EVA framework of a comprehensive budget management system, and introduces the EVA-based comprehensive budget management system role.Chapter6Case Study. In DFGL company, for example, explain the reasons for selection in this case, the company introduced the basic situation DFGL after the assessment and implementation of EVA comprehensive budget management system, analyzes the current situation and budget management problems and proposed DFGL companies to establish a comprehensive budget based on EVA management system specific improvement measures.Chapter7should pay attention to. Elaborated based on EVA establish a comprehensive budget management system should pay attention to. Based on contingency theory point of view, that the power equipment manufacturing enterprises management in response to changes in the business environment. EVA inspection only at the current stage of the introduction of indicators, along with in-depth assessment of the SAC EVA advance the level of enterprise information and continuous improvement, enterprise comprehensive budget management also needs to be managed in a timely manner because of changes in conditions, in practice, constantly improving and developing budgeting tool and management focus.The main contribution of this paper are:This paper analyzes and conclusions are some practical and theoretical basis, I hope this can be for large manufacturing enterprise comprehensive budget management and performance evaluation system for the establishment and improvement to provide a reference, as well as manufacturing enterprises to strengthen the building of a comprehensive budget management, to explore performance budgeting mode pave the way.1, the paper describes the power system equipment manufacturers a comprehensive budget management process, the value of the EVA targets and the integration of a comprehensive budget management objectives to be innovative This paper presents a comprehensive budget management to determine a reasonable value assessment should be based on objective-oriented, relying on corporate strategy, the rational allocation of resources, and other factors. 2Based on the SAC EVA evaluation scoring rules, constructed a calculation method to determine EVA target, the implementation of this approach can reduce enterprise group budget targets identified within the game behavior, reduce agency costs, and effectively guide enterprises to gradually change the development mode, improve the quality of development.3, this paper presents a comprehensive assessment of budget management and integration of the principles of EVA proposed combination of the two focusing on the overall budget management in the power equipment manufacturing enterprises centralized fund management role, the question of how the use of a comprehensive budget management to determine the impact an important factor in enterprise value accounts receivable and inventory control objectives.4, the paper questionnaires revealed the power equipment manufacturing enterprises in the EVA evaluation environment in a comprehensive budget management of the main problems, indicating a comprehensive budget management should be improved in the direction. Through case analyzes and summarizes the major domestic power equipment manufacturing enterprises in the overall budget management methods, in particular a comprehensive budgeting, funds focused on optimizing the allocation of resources under the conditions of the experience and problems.5, the paper built EVA-based budgeting process, to achieve mil participation in the budget to achieve the financial, business and effective convergence for DFGL companies and other power equipment manufacturing enterprises in the future improve the budget management for reference.Further research of this paper are:Since EVA performance evaluation late start in the enterprise, enterprise performance mainly reflected in social benefits, a simple quantitative indicators are not well reflected in enterprise value, coupled with internal addition to the main person in charge, the full performance evaluation has not yet depth. By a number of objective and subjective conditions, so for the time being it is difficult to manufacture enterprises EVA evaluation conducted after an accurate assessment of overall performance, and how to adapt to the future overall budget management EVA depth assessment, which needs to be further studied and resolved. Next, under the enhanced EVA assessment management requirements, the SASAC will further expand the scope of EVA performance evaluation to improve the assessment of the weight, power equipment manufacturing enterprises should continue to improve its EVA-oriented comprehensive budget management system, and strengthen internal accountability and efficiency spending to centralized management of funds as a means to cover the corporate treasury operations, optimize budgeting, implementation, monitoring and other processes to improve overall budget management, optimize resource allocation and cost control purposes, and strive to improve product quality and core competitiveness, achieve sustainable development. |
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