Cause Analysis Of Enterprise Financial Risk

(1) the macro-economic environment is complex and changeable.

The complex and changeable macroeconomic environment facing financial management is the external cause of enterprise financial risks.

As we all know, continuous inflation will cause continuous shortage of capital supply, continuous depreciation of monetary funds, relative appreciation of physical capital, and continuous rising of capital costs.

For example, the rise in world crude oil prices has led to the rise in refined oil prices, which has increased operating costs, reduced profits and failed to achieve the expected revenue.

And interest rate changes will inevitably generate interest rate risk, including the risk of excessive interest payments, the risk of loss of interest generated investment and the risk of failure to perform debt service obligations.

Market risk factors also have a great impact on the financial risk of enterprises.

The environment of financial management is complicated and changeable. The change of external environment may bring some opportunities for enterprises, or it may make enterprises face some threat.

If the financial management system can not adapt to the complex and changeable external environment, it will inevitably bring difficulties to the enterprise.

At present, the financial management system established by many enterprises in our country is lack of reasonable organization, low quality of management personnel, imperfect financial management rules and regulations, and lack of basic management work.

Specifically, enterprises can not scientifically foresee the changes in the external environment, reflect lagging behind, and do not measure effectively, resulting in enterprise financial risks.

The internal financial operation of enterprises affects the ability and effectiveness of enterprises to prevent and control financial risks to a large extent.

The confusion of internal financial relationship is another important reason for Chinese enterprises to generate financial risks.

There is an unclear responsibility and confusion in the management of funds and the distribution of benefits among enterprises and between enterprises and higher level enterprises, resulting in inefficient use of funds, serious loss of funds, and the security and integrity of funds can not be guaranteed.

For example, the capital structure of enterprises is irrational and the proportion of debt funds is too high.

In our country, capital structure mainly refers to the ratio of equity capital to debt capital.

Because of the reasons for the failure of financing decisions, the irrational capital structure of enterprises is widespread.

Specifically, the ratio of debt to capital structure is too high, and many enterprises' asset liability ratio reaches above 30%, resulting in heavy financial burden and insufficient solvency, resulting in enterprise financial risks.

The complexity of enterprise operation and the variability of market environment determine the objectivity of enterprise financial risk.

As long as there are financial activities, enterprises must have financial risks.

In reality, the risk consciousness of many enterprises' financial managers in China is weak, which is one of the important reasons for the financial risks of enterprises.

As the market of our country has become a buyer's market, the phenomenon of unmarketable products is common in the enterprises.

In order to increase sales and expand market share, some enterprises sell products by credit sale, and accounts receivable increases greatly.

At the same time, because of lack of understanding of credit level of customers, lack of control and blind credit sale, enterprises lose control of accounts receivable.

A large proportion of accounts receivable can not be recovered for a long time until they become bad debts.

Assets are long occupied by debtors without compensation, which seriously affect the liquidity and security of enterprise assets and bring huge financial risks to enterprises.

The lack of scientificity of financial decisions will inevitably increase the risk of financial decision making, and financial decision making is another important reason for corporate financial risks.

The premise of avoiding mistakes in financial decisions is the scientification of financial decisions.

At present, the financial decisions of Chinese enterprises generally exist the phenomenon of experience decision-making and subjective decision making, resulting in frequent mistakes in decision-making, resulting in corporate financial risks.

For example, in the decision making process of fixed assets investment, due to the lack of systematic analysis and Research on the feasibility of investment projects, and the incomplete and unrealistic economic information based on decision making, and the low decision-making ability of decision-makers, the errors in investment decisions frequently occur.

Decision making makes investment projects unable to get the expected profits, and the investment can not be recovered on schedule, which brings huge financial risks to enterprises.

Because of the lack of knowledge about investment risk of investment decision makers, decision making mistakes and blind investment lead to huge investment losses of some enterprises, which will inevitably affect the investment efficiency of enterprises, and affect the long-term solvency of enterprises, which will bring greater financial risks to enterprises.