幸紓影

Abstract： The author served as director of Chengdu Shishi middle school magazine in high school， participated in the editorial work， so that the author was interested in the magazine work. This article is written by the author after doing a multi-understanding investigation of small and medium-sized magazine current cash flow management during the summer vacation.For small and medium enterprises， strengthening their cash flow management is becoming increasingly important. In this paper， the author takes a small magazine C as an example to introduce characteristics of the cash flow and problems of the cash flow management in magazine detailedly from three aspects such as the start of funds， cash inflows and cash outflows， also give corresponding improvements suggest according to the existing problems.

Key words： small and medium enterprises； magazines； cash flow management

Since July 20， 2013， the central bank has fully liberalized the regulatory rate of lending rate in financial institutions， canceled the 0.7 times lower limit of financial institutions lending rates and financial institutions independently determine the level of loan interest rates according to business principles. The central bank's policy is an important step in the reform of interest rate marketization， which will help reduce the financing cost of enterprises and help to strengthen the support of the real economy in the financial market. However， since the implementation of the policy for more than half a year， it is still very difficult for small and medium enterprises to borrow money from the bank from the feedback of small enterprises.

One， the important meaning of small and medium-sized magazines emphasis on cash flow management

In1998，China promulgated the Accounting Standards for Enterprises - Cash Flow Statement， and in 2001 was revised. Now cash flow statement has become one of the main table of enterprises financial reporting.Whether large enterprises， or small and medium enterprises， generally， at the end of the year will make a balance sheet， income statement and cash flow statement.These problems need to be solved by financial management and cash flow management. Develop the funds based on the normal management of enterprises， strengthen the liquidity of cash to improve its transport management efficiency and serve for the enterprises in real through the analysis of cash flow.

Taking C magazine as an example， this paper analyzes the characteristics， existing problems and improvement suggestions of small and medium-sized magazines in cash flow management.

Two， small and medium-sized magazine cash flow management problems

C magazine belongs to small businesses， and the initial investment cost of 2 million yuan， invested by A shareholders of $1 million 20 thousand and B shareholders invested $980 thousand joint venture.C magazine published from the start of the monthly magazine， gradually developed into a semi-monthly， and currently published after every ten days. The content of this magazine belongs to the industry magazine， and there are problems of advertisers and magazine readers overlap in long-term.

Annual advertising revenue is at about 3-4 million， about 400-500 thousand in magazine sales income， but the annual cost is more than 4 million yuan in long-term， in the statue of successive loss years.The following is a detailed analysis from three aspects of start-up funds， cash inflows， cash outflows， summarizes the characteristics of C magazine's cash flow， as well as cash flow management problems：

1， the magazine's start-up capital amount is usually smaller

Compared 2 million yuan initial investment of C magazine with about 4 million yuan cost a year， if the magazine can not achieve balance of income and expenditure， 2 million yuan will soon be exhausted. Small and medium-sized magazine usually lack the concept of cash flow management， there are some problems such as， paying no attention to the early stages of planning， spending is not budget， and the financial work does not attach importance.

2， the magazine's cash inflow has obvious seasonality

The main sources of magazine revenue are advertising revenue and distribution income. Advertisers are usually willing to sign long-term contracts in order to obtain certain benefits， advertising in the annual installments， and advertising payments are concentrated in the beginning and end of the year； The magazine issued more concentrated income， most of the next year's magazine money will be given at the end of this year.

Taking C magazine 2013 monthly cash flow statement as an example：it can be seen from table 1， large inflows of cash flow stage at the end of each month， and in the normal month， only sporadic cash inflows， not enough to pay one month costs.

Table 1 C magazine January-December 2013 cash flow summary

Unit： million

There are some problems usually existing in the small and medium-sized magazines， such as paying more attention to advertising than publishing， advertisers curing and reluctant to open up new markets. Table 2 shows， C magazine annual issued income is of around 400-500 thousand yuan， and the amount of sales is around 1500 units， which shows the sales scale is quite small， mostly gifts compared with 8000 units prints per month. Annual advertising revenue is at about 3-4 million. there is no significant growth， and advertisers fixed dozens of existing in the industry， rarely open up the market outside the industry；

Table 2 C magazine's 2009-2013 income schedule

Unit： million

Three， improve the small and medium-sized magazine cash flow management recommendations

1， pay attention to the budget forecast

Small and medium-sized magazine leaders should pay attention to financial work， hire professional staff to manage company accounts， according to the annual plan at the beginning of each year to develop a sound financial budget. As can be seen from Table 3， C magazine in the completion of the established objectives of the premise of income，if the cost can be controlled within the established objectives， then the balance of payments can be achieved in 2010. Usually the magazine in addition to rare electronic equipment depreciation， hope that this belongs to the cash basis， it can also achieve 2010 annual cash flow balance.

Table 3 C magazine 2010 budget sheet

Unit： million

2， multi-channel， multi way from a variety of aspects to do open source work

There are two main consideration aspects in the "open source" ， one is to increase advertising revenue， the second is to increase the issuance of income. Advertising revenue as the magazine's main source of income， should be taken seriously. On the one hand is to stabilize existing customers， do the good customer service work； the other is the development of new customers. C magazine advertisers long-term confined within the industry.

3， multi comparison， multi innovation from multiple factors do throttling work

In the "throttling" the main consideration is to reduce the issue， and the number of unnecessary. The most direct effect is to reduce each one， you can reduce the cost of a printing， royalties， mailing costs， reduce the number of journalists， reduce labor costs. C magazine will continue to reduce the direct cost as the main goal， mainly from the following aspects：

A， paper. At present，A， paper. At present， the main printing paper to take printing， the advantage are： first， the printing can be purchased in large quantities of paper， the price cheaper than the purchase of their own magazine； Second， the magazine dose not need to rent warehouse to storage， it can save a lot of storage costs； Third， the risk of changes in paper prices can be transferred to the printing plant. It is conducive to financial risk control.

B， printing fees. Currently， the magazine takes single-pricing approach.The pages of the magazine in the fixed critical point ncluding above and below， respectively fixed pricing. For example， a 80-page magazine， printed about the number of regular prints in the following 5000， priced at 3.65 yuan， more than 5，000， priced at 3.45 yuan. Package paper printing and single pricing are in favor of cost budget and strengthen the control of the cost. In the cost budget， to take full account of the critical number， to avoid the problem of declining in the number of printing and rising of the cost.

C. Labor costs. Hire professional writers out of the magazine， magazines only need to hire editors to reduce the fixed salary and the corresponding social security costs.

D. Issue fee. With the development of science and technology， at present， it has been issued completely by computer directly， without the film. To each issue of a 80-page magazine， 22 yuan per page for example， the annual cost savings of about 60，000 yuan.

E. Shop around. Preferred choice， such as printing fees， C magazine initially with a private company. A 80 page magazine， agreed to the number of printed in the following 5000 copies， priced at 3.65 yuan， below 5000 copies， priced at 3.45 yuan. After a multi-inquiry， choose a lower price of a large state-owned printing plant， to ensure the same quality conditions， printing more than 5，000 copies and the following prices have dropped by 0.21 yuan.

References

[1] Huang Xuebing.On the Management of Cash Flow of Small and Medium - sized Enterprises[j].Business Review.2013.10.

[2]Lu Xiaowei.How to Solve the Problem of Small and Medium Enterprises[Z].Sanxiang Metropolis Daily.2013.8.25.

[3]Ni Jinfeng. Analysis on the Problems and Countermeasures of Cash Flow Management in Small and Medium - sized Enterprises.China Township Enterprises Accounting[J].2013（04）.