| The iron and steel industry as the pillar industry of national economy,has been attracting the attention of numerous economic scholars at home and abroad.From a macro point of view,at present,the steel industry appeared the serious excess capacity.At the end of 2015,the government put forward the "three to one drop one fill the" supply side policy,the "capacity" as a task list at structural reform and the central economic work conference in 2015.From a micro perspective,the listed companies are frequently exposed for default scandal.Haixin Iron and Steel blast furnace shuts down and is in debt to the bank;Sichuan Shengda Group defaults on bonds;China Steel defaults on stock debt;Northeast Special Steel Co.Ltd.defaults on debt 6,000,000 in total.Therefore,we can see that the financial situation of the steel industry is not optimistic.This article selects Fushun Special Steel Co.Ltd.as the research object,using two methods of qualitative and quantitative study on financial warning of Fushun Special Steel Co.Ltd.First of all,the paper analyzes the current situation of the iron and steel industry,identify the risk of the whole steel industry faces.Secondly,to analyze the management status of Fushun Special Steel Co.Ltd.and discusses the various factors may cause financial situation,further analyzes the financial condition of Fushun Special Steel Co.Ltd.,from the enterprise financial report,focus on the financial statements of exceptional project.Then,using the financial early warning model determine enterprise's financial crisis,on the risk assessment.Finally,countermeasures and Suggestions are put forward,how to establish an effective financial early warning mechanism to guard against the risk,response to risk.The results show that the steel industry is facing the contradiction of supply and demand,not only there are profitability decline,profits to reduce,the cost rise,the cost may not be able to make up for the risk,an is big debt pressure,the credit risk of debt default.Fushun Special Steel Co.Ltd.is faced with high debt ratio,cash flow declining,cost rising,joint liability guarantee trading during the risk of uncertainty.Use of financial early warning model results show that the Fushun Special Steel Co.Ltd.has been in crisis,companies need to raise awareness,improve risk early warning management institution,strengthen enterprise risk consciousness,perfecting the internal control system,pay attention to internal accounting information quality,focus on debt,cash flow,accounts receivable,rely on technology innovation upgrading industrial cluster to dissolve the risk. |
PDF Full Text Request