论文总字数：36069字

摘 要

房地产开发企业一直掌握着国民经济发展的主流，尤其是近二十年来，我国居民对住房意识观念发生了很大的转变，房屋成为了每个人生活中的必需品。对于一个企业来说，现金流就好比一幢房屋的钢筋结构，是一个企业的灵魂所在，如果一个企业一味追求高利润高收益，而忽视了现金流的管理，那么最后无论获得了多少收益，都势必会存在财务亏损的风险。一个理想的现金流管理机制既能反映企业的经营现状、获利水平、发展能力进行评估，还能服务于企业的管理者，管理者可以通过现金流管理方案了解到这个企业的目前状况，然后制定周全的投资、投资计划，从而使企业达到一个最佳的经营状态。事实上，企业在日常生活的经营活动中，经常会出现收益高但却最终破产的现象，这是因为企业的收入虽高，但有可能大部分收入来源于欠款收回，现金流入的数额其实是很低的，债务到期无法偿还，最终逃不过破产的命运。这不仅说明这些企业的现金流管理不到位，更充分说明了现金流在企业经营过程中扮演着比传统财务指标更为重要的角色。最后，众所周知，同行业中每家企业的竞争力是相当大的，尤其是在发展规模相当的企业之间，所以，现金流的管理有助于企业了解其他企业的发展状况并作出比较，找出自己的不足并且借鉴其他企业的可取之处。

本文首先概述了现金流管理的概念，包括现金流管理的原则、目标以及周期性管理，其次考察了我国房地产开发企业现金流的发展现状和存在的问题，包括房地产开发企业的融资渠道风险很高、房地产开发企业现金流管理缺乏重视、缺乏战略等，并且提出房地产开发企业管理现金流的两个基本理论，即库存指数理论和DSO理论，结合中粮地产的案例，对它的财务报表作出分析和总结，然后将中粮地产的现金流指标与同行业进行比较，找出中粮地产发展的优势和不足，最后提出相对应的解决方案和管理机制。本文最大的亮点在于结合实际案例，从理论和数据分析出发，找到了现实生活中现金流管理存在的高风险、高分散的问题，并针对这些问题给出了自己的建议。

关键词：房地产开发企业；现金流；现金流管理；现金流管理对策

Research on Real Estate Development Enterprise Cash Flow Management

Abstract

The real estate development enterprises always catch the main trend of the national economic development. Especially in past two decades, in housing concept, Chinese residents have a big transform. To an enterprise, cash flow is an enterprise’s soul, just like a house’s reinforced concrete. If an enterprise blindly pursue high profits and high returns, while ignoring the cash flow management, then no matter how much gain in the end, are bound to have the risk of financial loss. An ideal cash flow management mechanism not only can reflect the status of the operation, the enterprise"s profit level, development ability evaluation, but also to serve the enterprise managers, managers can understand the current situation of the enterprise through the cash flow management scheme, and then develop a comprehensive investment, investment plans, so as to enable enterprises to achieve a the best operating condition. In fact, business activities in daily life, often appear high income but ultimately bankruptcy phenomenon, this is because the business income is high, but the most likely source of income to recover arrears, the amount of cash inflows is actually very low, unable to repay the debt maturity, and ultimately escape the fate of bankruptcy this not only shows that these enterprises cash flow management is not in place, it shows that the cash flow in the process of enterprise management plays a more important role than the traditional financial indicators. Finally, as everyone knows, every enterprise in the same industry competitiveness is quite large, especially in the development of the scale of the enterprise, so cash flow management helps enterprises to understand the development status of other companies and make a comparison, find out their shortcomings and learn from other enterprises merit.

This paper first summarizes the concept of cash flow management, including the principles of cash flow management, objectives and cyclical management. This is followed by the current situation of the development of China"s real estate development enterprise cash flow and the existing problems, including the financing channel of real estate enterprises with high risk, cash flow management of real estate development enterprises lack of attention, lack of strategy, and puts forward two basic theories of real estate development enterprise management, cash flow, inventory index theory and DSO theory, combined with the case of real estate, its financial statements analysis and summary. Then the COFCO Property cash flow index compared with the same industry, find out the real estate development advantages and disadvantages. Finally put forward the corresponding solutions and management mechanism. In this paper, the biggest bright spot is the combination of actual cases. From the perspective of theory and data analysis, I found the existence of high risk management of cash flow in real life, high dispersion problems. To solve these problems, I brings forward some suggestions.

Key words: real estate development enterprise; cash flow; cash flow management; cash flow management strategy

目 录

摘 要 I

Abstract II

第一章 绪 论 1

1.1研究背景与意义 1

1.2研究目的与内容 1

1.3 研究思路与方法 2

1.4论文框架 2

第二章 现金流管理研究的文献综述 3

2.1 国外相关现金流管理理论研究概述 3

2.2我国相关现金流管理理论研究概述 4

2.3我国房地产开发企业现金流管理研究概述 5

第三章 现金流管理概述 7

3.1 现金流管理的概念 7

3.2 现金流管理的目标 7

3.3 现金流管理的原则 8

3.4 现金流在企业各个生命周期的管理 9

3.5 分析现金流管理的方法理论 11

3.5.1库存指数 11

3.5.2 DSO 11

第四章 房地产开发企业现金流管理考察 13

4.1 我国的房地产开发行业的发展 13

4.1.1 我国房地产开发行业概述 13

4.1.2 当今我国房地产行业的特点 13

4.2 我国房地产开发企业现金流管理的现状 14

4.2.1 房地产现金流的含义 14

4.2.2 房地产企业现金流的特点 14

4.2.3 我国房地产开发企业现金流管理中存在的问题 15

4.3我国房地产开发企业现金流管理的优化机制 16

4.3.1 对现金控制模式的选择得当 16

4.3.2 分类管理企业的现金流 16

4.3.3 提高现金周转率 16

4.3.4 建立健全现金流风险防范机制 17

第五章 中粮地产现金流管理的案例分析 18

5.1 企业概况 18

5.2 中粮地产报表分析 18

5.2.1 中粮地产资产负债表分析 18

5.2.2中粮地产利润表分析 20

5.2.3中粮地产现金流量表分析 21

5.3 中粮地产现金流管理现状分析 23

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