普华永道-财务管理最佳实践之现金管理.ppt

Best Practice Financial Processes:Cash Management,Cash Management-Best Practice Objectives,Cash ManagementObjectives,Organisation,People,Processes,Controls,Measures,Information Systems,Manage short term liquidity and long term funding requirementsMinimise companys cost of capitalEfficiently manage the processing of cash transactions Effectively forecast cash requirementsManage petty cash efficiently,Centralised cash office&poolingIntegrated with Accounts functions,Record/manage receipts and paymentsManage cash positionPerform reconciliationsPerform period end closing&reporting,Policies&ProceduresBank liaisonAuthorisation limitsInternal controls,Speed of reportingAccuracy of forecastingReturn on Capital,Integrated bank account with sub-ledgersAutomatic bank reconciliationsOn-line/real timeCash forecasting,Cash management skillsLiaison with financial institutions,Process Features,Segregate cash management from accounts receivable and accounts payable functionsLocalise cash collectionMinimise level of petty cash requirementsTransmit mechanisms evaluated on cost and risk basisCreate netting arrangement with internal business partnersObtain pan-European banking facilities that allow netting off of account balances,Map cash collection and payment cycles,identify actions to minimise these periodsMinimum number of banking relationships maintained to ensure coverage and purchasing powerClear unmatched cash within 1 dayRegular reconciliation of all cash books.Maintain petty cash imprest systemsObtain access to on line bank statementsMonitor the cost of cash transmission mechanisms,Cash balances reported on a daily basis by account and business centresTreasury determine short term cash requirements from cash forecast and daily reportCash surpluses managed by TreasuryPetty cash/foreign currency floats periodically auditedCompany loan accounts reconciled monthly,Treasury consolidate and manage cash forecast requirementsMonitor bank facilities to minimise interest payments and maximise receiptsForecast cash on a regular basis:rolling 12 month forecast-annual 5 year ahead reviews,Cash Management-Best Practice Features,Establish and maintain cash control mechanisms,Perform bank reconciliations,Report andmanage cash balances,Forecast cash requirements,System Features,EDI used for majority of payments and receipts Comprehensive system security and password features for paymentMulti-currency systems,.,Transmission used for bank statementsBank remittance notices issued with sales invoicesElectronic reconciliation of bank statement and cash bookCurrency rates available for sterling equivalents,Individual bank account cash balance reports produced on a daily basisSummary consolidated cash reports available on-line to TreasuryIntercompany netting bank accounts reconciled automaticallyIntegrated enquiry from cash book entries to sub-ledgers,Automatic production of cash forecast statements from commitment/accrual accountingProject analysis and control linked to finance systemsAnalysis by market share/product cost etc,Cash Management-Best Practice Features,Establish and maintain cash control mechanisms,Perform bank reconciliations,Report andmanage cash balances,Forecast cash requirements,Cash Management-Critical Success Factors,These are a summary of the key business requirements,which must be met to achieve Cash management objectives.Electronic Interfaces with Accounts Payable,Accounts Receivable,Payroll and General LedgerEstablish and maintain good relations with banksAgree Finance terms Reconcile bank accounts on a regular basisEDI for the majority of payments and receiptsAutomated bank reconciliation systems and processesCash monitoring and forecasting techniques provide first class accuracyIntegrated on line systems to audit trail cash transactionsOperate minimum petty cash and foreign currency floatsSeparation of Cash management staff duties from other finance operations,Cash Management-Measures/Cost Drivers,MeasuresCost of CapitalNumber of bank accountsNumber of banking relationshipsNumber of outstanding reconciling items 3 months oldDifference of interest rate of cash accounts vs.Money Market rates per currencyPercentage of cash transactions effected electronicallyNumber of days in obtaining value for fundsFloating days per bankCost of cash function as a percentage of total finance costNumber of cash transactions per FTENumber of unreconciled cash transactionsNumber of accounts outside cash pooling,Cash Management-Measures/Cost Drivers,Cost DriversElectronic payment and receipt mechanismsNumber of banking locations and bank accountsNumber of international locationsSystem interfaces available for cash entriesTypes of payments and currencies usedNumber of petty cash sitesNumber of transactions per dayExtent of government regulation,Cash Management-Level 0 Context Diagram,Cash Management,Budgetingand control,Cash office,Managementteam,Audit,Purchasing,Accountsreceivable,Accountspayable,Payroll,Banks,Generalledger,Financialinstitutions,Cash forecasting,Cashflow monitoring&forecasting,Check reconciliations,Treasury expertise,Remittances,Commitment details,Petty Cash,Process Receipts,Process Payments,Payroll payments,CM details,BankStatements,Sales order processing,Sales orders,Cash requirements,Cash Management-Level 1 Overview,Cash Management-Appendix 1:IDEF Process Flow,The diagram below provides a key to the process diagrams used in this document.,Process/activity,Controls,(i.e.,ProceduresStandardsRequirements for rework),Output,(i.e.,InformationMaterial),Resources,(i.e.,PeopleFunctionsIT systemsMachines),Input,(i.e.,InformationMaterial),