Research On Financial Issues Of Bankruptcy And Liquidation Of State-Owned Enterprises-Taking X Electric Power Construction Company As An Example

Survival of the fittest,natural selection.With the rapid development of the market economy,the exit of enterprises has also gradually become market-oriented,gradually changing from the former policy bankruptcy to the current legal bankruptcy.A bankrupt enterprise is a specific existence pattern of a specific period of the enterprise's life cycle and still occupies a lot of economic resources,human resources and social resources.Therefore,strengthening the financial management and control of the bankrupt enterprise during the liquidation process and protecting the legitimate rights and interests of the stakeholders of the bankrupt enterprise are not only the objective necessity of the market economy,but also one of the core issues in the practical management process of the bankrupt enterprise.On August 27,2006,the 23 rd meeting of the Standing Committee of the Tenth National People's Congress passed the new Bankruptcy Law of the People's Republic of China's Enterprise Bankruptcy Law,which was formally implemented from the date.The promulgation and implementation of the new bankruptcy law has provided more solid legal protection for the legitimate rights and interests of creditors and debtors,and provided a legal basis and operating platform for studying the financial problems of bankruptcy enterprises under the new situation.This paper takes X Power Construction Corporation's bankruptcy and liquidation process as the research object for in-depth analysis.First,it uses PEST model,financial index analysis method,Du Pont analysis system and other methods to analyze the financial situation before bankruptcy,and further analyzes the reasons that led to its bankruptcy.Secondly,in accordance with the provisions of the new "Bankruptcy Law",from the perspective of the bankruptcy property investigation process,bankruptcy asset evaluation issues,bankruptcy settlement order,and bankruptcy liquidation work,the bankruptcy enterprise and the bankruptcy administrator's practice throughout the entire bankruptcy process Problems in operation resulted in the ultimate bankruptcy liquidation result did not maximize the interests of creditors.Finally,in combination with the problems existing in the above studies,corresponding measures were proposed.First,how to regulate various operations and safeguard the interests of creditors during the implementation of bankruptcy proceedings.Secondly,when an enterprise encounters a financial crisis,it should try to adopt a bankruptcyand reorganization plan as much as possible to reduce the loss of the enterprise.Thirdly,the enterprise should provide financial early warning to prevent the company from going bankrupt.Through this study,in order to standardize China's bankruptcy liquidation procedures and processes,to protect the interests of creditors to maximize,reduce the loss of state-owned assets,provide relevant suggestions and theoretical support.