会计学院知识库

现金流对企业来说至关重要，在快速变化的市场环境下，它直接关系到企业的生存与发展。在财务管理领域，价值最大化被视为企业的终极目标，而达到这一目标的关键在于持续的价值创造，这就要求企业通过有效的现金流管理为价值创造提供源源不断的动力。目前，关于现金流管理的研究主要集中在维持管理的均衡上，对于如何将现金流管理与价值创造相结合以促进企业价值增长的探讨还不够充分。本研究将通过一系列分析来探索现金流管理如何助力企业实现其价值最大化的目标。

现阶段房地产行业的发展变化要求企业更具侧重性的进行现金流管理，以求达到企业价值的最大化。鉴于此，本研究以滨江集团的现金流管理为研究案例，从价值创造角度对滨江集团的现金流管理进行量化研究。首先，本文对滨江集团的概况做了初步介绍；接着，详尽阐述了滨江集团在现金流预算、流向、流量和流速管理方面的现状；进而，本文从现金流的安全性、持续性以及创值性三个维度对滨江集团的现金流管理进行全面评价，分别分析了在经营活动、投资活动、筹资活动现金流管理上滨江集团所存在的问题。紧接着分析了问题成因：其缺乏现金流创值管理意识，并在现金流预算管理、流向管理、流速管理、流量管理上存在相应的不足，这些因素共同作用限制了其价值创造的潜力。

最后从问题源头出发，提出价值创造导向现金流管理的优化对策：在战略级别上，企业要注重现金流管理战略中价值创造思想的培养。在具体操作层面，滨江集团可以采取下列方法强化现金流管理以提高企业价值创造的能力：例如增强预算管理，保障现金流安全性；提升现金流增量，细化流量管理体系；整合流速管理内容，提高综合管理效率；强化流向管理水平，提升风险控制能力；提升现金流价值创造能力的持续性。本文希望通过滨江集团的现金流管理研究来帮助其实现价值创造导向的现金流管理目标，也期望为同行业内的其他企业提供实践参考，助力它们提升竞争力。

Cash flow is very important for the enterprises, in the rapidly changing market environment, it is directly related to the survival and development of the enterprise. In the field of financial management, value maximization is regarded as the ultimate goal of enterprises, and the key to achieve this goal is continuous value creation. This requires enterprises to provide continuous power for value creation through effective cash flow management. At present, the research on cash flow management mainly focuses on maintaining the balance of management, and the discussion on how to combine cash flow management with value creation to promote the growth of enterprise value is not enough. This study will use a series of analyses to explore how cash flow management can help enterprises achieve their goal of maximizing value. At present, the development and changes of the real estate industry require enterprises to pay more attention to cash flow management in order to maximize the value of enterprises. In view of this, this study takes the cash flow management of Binjiang Group as a case study, and quantifies the cash flow management of Binjiang Group from the perspective of value creation. First of all, this paper makes a preliminary introduction to the general situation of Binjiang Group; Then, it elaborates the current situation of Binjiang Group in cash flow budget, flow direction, flow and velocity management. Furthermore, this paper comprehensively evaluates the cash flow management of Binjiang Group from three dimensions of cash flow safety. Then it analyzes the cause of the problem: the lack of awareness of cash flow value creation management, and the corresponding deficiencies in cash flow budget management, flow direction management, flow rate management, flow management, these factors work together to limit the potential of value creation. Finally, starting from the source of the problem, the paper puts forward the optimal countermeasures of value creation-oriented cash flow management: at the strategic level, enterprises should pay attention to the cultivation of value creation thought in cash flow management strategy. At the operational level, Binjiang Group can strengthen cash flow management in the following ways to improve its ability to create value: for example, strengthen budget management to ensure cash flow security; Strengthen the management level of flow direction and improve the ability of risk control; Improve the sustainability of cash flow value creation. This paper hopes to help Binjiang Group achieve its value creation oriented cash flow management goal by studying cash flow management, and also hopes to provide practical reference for other enterprises in the same industry to enhance their competitiveness.