中小企业内部控制和风险投资【外文翻译】.doc

1、外文文献翻译原文SMEINTERNALCONTROLANDRISKOFINVESTMENT资料来源HTTP/ENGHI138COM/I141511ABSTRACTTHESMALLANDMEDIUMENTERPRISESINTHECREATION,GROWTHANDEXPANSIONPROCESSOFDEVELOPMENT,WILLCONTINUETOINVESTASTHEINTERNATIONALSITUATIONANDTHEUNPREDICTABILITYOFNATIONALPOLICIESANDTHEENTERPRISESOWNPOLICYMISTAKESANDOTHERFACTORS,T

2、HEINVESTMENTACTIVITIESOFSMALLANDMEDIUMENTERPRISESCOULDHAVECAUSEDLOSSOFBUSINESSINORDERTOINVESTMENTLOSSESTOANACCEPTABLELEVEL,THEARTICLEANALYZESTHESMALLANDMEDIUMENTERPRISESINTHEINVESTMENTPROCESSINTHERISKSOFTHEIROWNCHARACTERISTICSFORSMES400CREATIVELYPUTFORWARDTHESTRATEGYDEALWITHINVESTMENTRISKKEYWORDSINV

3、ESTMENTRISKRISKFACTORSRISKANALYSISRISKCONTROLMEASURES30YEARSOFREFORMANDOPENINGUP,CHINASSMALLANDMEDIUMENTERPRISESARETHEMOSTSIGNIFICANTDEVELOPMENTCHINASGDPGROWTHOFSMESANDFORTHETRANSFEROFRURALSURPLUSLABORFORCEHASMADETREMENDOUSCONTRIBUTIONSBUTINTHECURRENTTURBULENCEININTERNATIONALFINANCIALSITUATIONANDTHE

4、OVERALLSLOWDOWNINTHEDEVELOPMENTOFTHEDOMESTICECONOMICENVIRONMENT,THESURVIVALOFSMALLANDMEDIUMENTERPRISES,DEVELOPMENTHASENCOUNTEREDGREATERDIFFICULTIESTHEAUTHORCONDUCTEDSURVEYSINNANTONG,JIANGSUPROVINCE,STUDIEDDOZENSOFSMALLANDMEDIUMENTERPRISES,THENOTEDUETOTHELACKOFCORPORATESTRUCTURE,MANAGEMENTOFSMALLANDM

5、EDIUMENTERPRISES,REJECTIONOFTHEMODERNENTERPRISEMANAGEMENTSYSTEMANDOTHERFACTORS,PLUSLIMITEDBYTHEQUALITYOFPERSONNEL,LACKOFRISKAWARENESSANDSOON,SMALLANDMEDIUMENTERPRISESAREOFTENMISTAKESININVESTMENTDECISIONS,INVESTMENTPROGRAMANDUNSCIENTIFICORINEFFECTIVEIMPLEMENTATIONCANNOTACHIEVETHEEXPECTEDBENEFITSIREVI

6、EWOFTHELITERATUREINTERNALCONTROLISATOPICOFOLDANDYOUNG,ITEXPERIENCEDANINTERNALCONSTRAINTS,INTERNALCONTROLSYSTEMS,INTERNALCONTROLSTRUCTUREANDINTERNALCONTROLINTEGRATEDFRAMEWORKOFTHEFOURSTAGESINTHISPROCESS,MANKINDHASACHIEVEDFRUITFULRESULTS,INTERNALCONTROLTHEORYISGETTINGMORESOPHISTICATEDINTERNALCONTROLRE

7、SEARCHINDEPTHANDBREADTHHASMADETREMENDOUSPROGRESSYANGZHOUNAN,WUXIN,2007INORDERTOGIVEFULLPLAYTOTHEEFFECTIVENESSOFINTERNALCONTROL,PEOPLESTUDYAVARIETYOFWAYS,BUTOFTENFROMATHEORETICALPOINTOFVIEWTOSOLVETHEPROBLEMWELL,SUCHASTHEEMPHASISONBUILDINGASCIENTIFICANDEFFECTIVECORPORATEGOVERNANCESTRUCTURE,STRENGTHENI

8、NTERNALAUDITINGCONTROLSMENGYAN,SUNLIHONG,2004TO“LEARNINGORIENTED“BASICFRAMEWORKFORTHEREDEVELOPMENTOFTHECONCEPTOFINTERNALCONTROLTOBUILDISBASEDONBEHAVIORANDNOTJUSTINTERMSOFIMPROVINGTHEINTERNALCONTROLYANGXIONGSHENG,2006ANDSOONASTHERISKOFIMPORTEDGOODSFORTHETERMRISK,ACCORDINGTOAIWAERDEEWALDRESEARCH,ITSFR

9、OMTHEITALIANRISQUE,BEUNDERSTOODASTHEDANGEROFANOBJECTIVEREALITY,SHOWINGANATURALPHENOMENONLIZHONGHUA,2008RISKSARETHEINTRODUCTIONOFFINANCE,AFTERTHEORIGINALISNOLONGERANATURALPHENOMENONFINANCIALRISKREFERSTOTHEFINANCIALSYSTEMSOTHATTHERISKFACTORSTHATEXISTINAPARTICULARACCOUNTINGENTITYLOSSESUNCERTAINTYTHEORI

10、STSANDPRACTITIONERSONHOWINTERNALCONTROLSINCLUDINGACCOUNTINGCONTROLTOEFFECTIVELYGUARDAGAINSTFINANCIALRISKSUNDERTAKENMASSIVERESEARCHINTERNALCONTROLPRACTICESANDMEASURESNOTONLYINBUSINESSMAINLYLARGESCALEENTERPRISEGROUPLEVEL,ALSOATTHENATIONALLEVEL,ANDEVENINTERNATIONALLEVELSTODEVELOPINTERNALCONTROLPRACTICE

11、SANDMEASURESTODEVELOPTHEMAINBODY,THEREHAVEBEENBUSINESSES,CIVILSOCIETYANDGOVERNMENTSTOWORKTOGETHERTHESITUATIONINCHINAHASMAINLYTAKENTHEFORMOFADMINISTRATIVEREGULATIONSTODEVELOPTSECHIWAH,2007,SUCHASTHEPEOPLESREPUBLICOFCHINAMINISTRYOFFINANCEONMARCH2,2007ISSUE“ONTHEISSUANCEOF“INTERNALCONTROLPRACTICESBASIC

12、STANDARDS“AND17SPECIFICSTANDARDSDRAFTOFTHENOTICE“ACCOUNTINGWILLBE20077THETHEORETICALRESEARCHANDADMINISTRATIVEREGULATIONSOFTHESCHOLARSANDTHEPOSITIVESIGNIFICANCEOFLARGEENTERPRISEGROUPS,CANTHEOWNERSOFSMALLANDMEDIUMENTERPRISES,ITSAPPLICABILITYTOBEIMPROVEDINTERNALCONTROLSWEHAVESTUDIEDTHEULTIMATEGOALISTOH

13、ELPCOMPANIESCONTROLRISK,BUTNOTFORRESEARCHSTUDIES,INORDERTOREGULATETHENORMS,WESHOULDBECONCERNEDABOUTTHEAUDIENCERESEARCHALSOINCLUDESALARGENUMBEROFSMALLBUSINESSOWNERSTOTHISEND,ASAVERYPRACTICALRESEARCHER,ANOBLIGATIONTOUSEPOPULARLANGUAGEANDTHEMOSTDIRECTWAYTOTELLSMALLBUSINESSOWNERS,THEIRBUSINESSESMAYBEWHA

14、TRISKS,WHATMEASURESSHOULDBETAKENTOCONTROLRISKTHEREFORE,INORDERTOHELPSMESTOAVOIDINVESTMENTFAILURE,THISARTICLEONLYTHESMEINVESTMENTRISKANDINTERNALCONTROLMEASURESTOMAKETHEFOLLOWINGEXPLORATORYRESEARCHSECOND,THECONCEPTOFINVESTMENTANDTHESCOPEOFINVESTMENTSREFERTOASPECIFICECONOMICENTITIESINCLUDINGTHESTATE,EN

15、TERPRISESANDINDIVIDUALSINORDERINTHENEXTFORESEEABLEPERIODOFTIME,ARETURNORFORMAKINGMONEYVALUE,INACERTAINTIMETOCERTAINAREASOFTHESUBJECTMATTEROFTHEAMOUNTOFFUNDSINVESTEDENOUGHMONEYORINKIND,SUCHASTHEECONOMICEQUIVALENTOFBEHAVIORTHEMINISTRYOFFINANCEACCOUNTINGQUALIFICATIONSEVALUATIONCENTER,2007FROMTHEBUSINES

16、SPOINTOFVIEW,THEINVESTMENTINCOMEISTHEBUSINESSINORDERTOOBTAINACERTAINOBJECTORINVESTMENTTOTHEECONOMICBEHAVIORINCLUDINGINVESTMENTINFIXEDASSETS,INTANGIBLEASSETS,INVESTMENTS,OTHERLONGTERMASSETS,INVESTMENTS,CURRENTASSETSINVESTMENT,REALESTATEINVESTMENT,PORTFOLIOINVESTMENT,FUTURESANDOPTIONS,INVESTMENTS,TRUS

17、TSANDINSURANCE,INVESTMENT,ETCFORSMESTOINVESTMOREINTHEPERFORMANCEOFTHEEXPANSIONOFPRODUCTIONSCALE,BECOMEMORECOMMONINFIXEDASSETSINVESTMENT,INCLUDINGCONSTRUCTIONOFFACTORIES,BUYMACHINERY,BUYINGACARASTHEENTERPRISEDEVELOPMENTSTRATEGY,HUMANRESOURCESANDOTHERFACTORSWITHTHECONSTRAINTSOFSMALLANDMEDIUMENTERPRISE

18、SONNONPRODUCTIONANDMANAGEMENTINTHISCASETHECAPITALMANAGEMENTANDOPERATIONOFSMALLANDMEDIUMENTERPRISESANDSMALLSCALEEXPANSIONOFTHEDEMANDTHISSTUDYISONLYSMALLANDMEDIUMENTERPRISESTOEXPANDTHESCALEOFPRODUCTIONANDOPERATIONOFTHEFINANCIALRISKANDRISKCONTROLMEASURESTHIRD,INVESTMENTRISKFACTORSANDRISKANALYSISOFTHEIN

19、VESTMENTPROCESSATHECONCEPTOFINVESTMENTRISKANDRISKFACTORSTHEINVESTMENTRISKISDUETOTHEOBJECTIVEEXISTENCEOFINVESTMENTRISKFACTORS,ARESULTOFINVESTMENTFAILURE,THEPOSSIBILITYOFLOSSTOTHEENTERPRISEUNCERTAINTYRISKFACTORSINCLUDETHEFOLLOWINGASPECTSWENYALI,20061,POLICYRISKSITISTHEMEANSOFNATIONALMACROECONOMICPOLIC

20、YCHANGESDUETOTHESMALLANDMEDIUMENTERPRISESANDTHEPOSSIBILITYOFINVESTMENTLOSSESIFAPRODUCTIONOFBICYCLETIRESINSMALLMANUFACTURINGENTERPRISES,FORFAILINGTOTAKEINTOACCOUNTTHESTATEFORTHECONTROLOFENVIRONMENTALPOLLUTIONANDTHEPROHIBITIONOFTHEUSEOFCOALBASEDSMALLBUSINESSASMALLBOILERTHISFACTORWHENINVESTINGINLESSTHA

21、NTWOYEARSWASFORCEDTOSTOPPRODUCTIONTHECOMPANYWASFOUNDEDLESSTHANTWOYEARSCANNOTRECOVERTHEFULLINVESTMENTPERIODINORDERTOREDUCEINVESTMENTLOSSES,THEENTERPRISEHADTOMOSTOFTHEMACHINERYANDEQUIPMENTINCLUDINGRUBBERMIXINGEQUIPMENT,CURINGEQUIPMENTASALESMANWHOCHEAPENS2,MARKETRISKSHISISDUETOMARKETSUPPLYANDDEMANDRELA

22、TIONSANDCHANGESINOTHERFACTORSTOSMESTHEPOSSIBILITYOFINVESTMENTLOSSESNANTONG,JIANGSUPROVINCE,ISCHINASMODERNTEXTILEINDUSTRY,ONEOFTHEMOREDEVELOPEDREGIONS,WHERESMALLANDMEDIUMSIZEDCOTTONTEXTILEENTERPRISESABOUND,THEREISNOLACKOFFAMILYASAUNITOFPRODUCTIONANDPROCESSINGENTERPRISESASTHESESMALLANDMEDIUMENTERPRISE

23、SINTHEDECISIONTOSTARTTHECOTTONTEXTILEFACTORYATTHEBEGINNINGRARELYTIMELY,SYSTEMATIC,PROFESSIONALMARKETRESEARCHANDFEASIBILITYANALYSIS,INTHEEVENTOFNATIONALMACROTIGHTENING,WHENALARGENUMBEROFSMALLANDMEDIUMENTERPRISESOFFUNDSFORWHICHHAVECLOSEDDOWN3,TECHNICALRISKSHISISDUETOSOMEKINDOFPRODUCTIONTECHNOLOGYANDCE

24、RTAINTECHNICALCONTENTOFTHESYSTEMBYTHEPASSAGEOFTIMETHEASSETSBECOMERELATIVELYLAGGINGBEHIND,RESULTINGININVESTMENTPROJECTS,DIFFICULTTOACHIEVETHEEXPECTEDRETURNPOSSIBILITIESANOTHERLAYEROFRISKTOINVESTINTECHNOLOGYINCONTEXTANEWTECHNOLOGYWITHOUTAMARKETBECAUSEOFITSTESTING,ITSMATURITY,RELIABILITYISDIFFICULTTOEN

25、TIRELYSUREAROUNDTHETECHNOLOGYCARRIEDOUTBYINVESTMENTINCOMEHAVEGREATERUNCERTAINTY4,THEQUALITYOFPERSONNELRISKITISTHEMEANSOFTHEIROWNBECAUSEOFTHEQUALITYOFDECISIONMAKERSINVESTINSMES,THEIMPLEMENTATIONPROCESSINTHEINVESTMENTMANAGEMENTANDOPERATIONSPERSONNELTHEQUALITYOFFACTORSHAVECONTRIBUTEDTOINVESTMENTINTHEPO

26、SSIBILITYOFFAILUREMANYSMALLBUSINESSOWNERSIDONOTHAVETOMAKEANINVESTMENTDECISIONMAKINGOVERALLQUALITYINTHEINVESTMENTPROJECTIMPLEMENTATIONPROCESS,THESMESLACKOFDUEPROFESSIONALCARETHEMAINREASONANDDONOTCONSIDERHIRINGPROFESSIONALSSUCHASTHEPROJECTMANAGERONTHEINVESTMENTPROJECTPREPARATIONADETAILEDBUDGETANDADOPT

27、THEBIDSANDOTHERMARKETINSTRUMENTSTOREDUCEINVESTMENTPROJECTSINEXPENSESBINVESTMENTINTHEPROCESSOFRISKANALYSISSOURCESOFRISKFROMTHEINVESTMENTPERSPECTIVE,INVESTINGINRISKFACTORSFROMOUTSIDETHEENTERPRISEFACTORS,SUCHASPOLICYRISK,MARKETRISK,TECHNICALRISKBUTALSOFROMINTERNALFACTORS,SUCHASTHEQUALITYOFPERSONNELRISK

28、STHEOCCURRENCEOFANINVESTMENTLOSSMAYBEINDEPENDENTOFEXTERNALFACTORSORINTERNALFACTORSPLAYEDAROLE,ITCOULDBEEXTERNALFACTORSORINTERNALFACTORSPLAYEDAROLEINORDERTOSTUDYSMALLANDMEDIUMENTERPRISESTOINVESTINTHERISKCONTROLMEASURES,THISARTICLEWILLBESMALLANDMEDIUMENTERPRISESINTHEINVESTMENTPROCESSISDIVIDEDINTOTHEFO

29、LLOWINGASPECTSOFRISKANALYSIS1,THERISKOFINVESTMENTDECISIONSINTHEORY,SMALLANDMEDIUMENTERPRISESSHOULDBEBASEDONTHEIROWNLONGTERMDEVELOPMENTSTRATEGY,LONGTERMINVESTMENTPLANSANDTHEINVESTMENTENVIRONMENTCHANGES,TOGRASPTHEINVESTMENTOPPORTUNITIES,ANDACCURATELYLOCATETHEAREAOFINVESTMENTANDINVESTMENTTARGETSMAYBEAM

30、ATTEROFFACT,MANYSMESAREOFTENDUETOVARIOUSREASONS,HAVECHOSENTHEWRONGTARGETINVESTMENTAREASANDINVESTMENT,THUSBEGINNINGABUSINESSINVESTMENTDECISIONTHEIRINVESTMENTISBOUNDTOFAIL2,THERISKOFINVESTMENTPROGRAMSSINCEINVESTMENTPROGRAMMINGISNOTTIMELY,SCIENTIFICORWITHATIMELY,SCIENTIFICINVESTMENTPROGRAM,BUTFAILEDBEC

31、AUSEOFINEFFECTIVEIMPLEMENTATIONERSHIINVESTMENTPOSSIBILITIES,NAMELY,THERISKOFINVESTMENTPROGRAMSINVESTMENTPROGRAMRISKSINCLUDEFEASIBILITYANALYSISOFRISKINVESTMENTPROGRAM,INVESTMENTRISKANDINVESTMENTPROGRAMSELECTIONPROGRAMIMPLEMENTATIONRISKSINVESTMENTPROGRAMFEASIBILITYANALYSIS,INCLUDINGANALYSISOFTHEECONOM

32、ICVIABILITYOFINVESTMENTPROJECTS,TECHNICALFEASIBILITYANALYSISANDFINANCIALFEASIBILITYANALYSIS,THEMOSTIMPORTANTTHINGISTHEFINANCIALFEASIBILITYANALYSISASTHEFEASIBILITYANALYSISERRORS,WHICHLEDTOTHEPOSSIBILITYOFFAILUREOFINVESTMENTPROGRAMS,NAMELY,THEFEASIBILITYOFINVESTMENTPROGRAMSINRISKANALYSISINTHEORY,INDET

33、ERMININGANINVESTMENT,THESMALLANDMEDIUMENTERPRISESSHOULDBEPREPAREDTOTWOORMOREPROGRAMSTOCHOOSEFROMTHECHOICE,ASCOMPANIESCHOSETOINVESTINNONOPTIMALSOLUTIONERSHITHEPOSSIBILITYOFFAILUREORONLYAPROGRAMOFINVESTMENTSTOCHOOSEFROMERSHITHEPOSSIBILITYOFFAILURE,NAMELY,THECHOICEOFTHERISKOFINVESTMENTPROGRAMSINTHEINVE

34、STMENTPROGRAMIMPLEMENTATION,BECAUSEOFPOROUS,POORLYERSHIINVESTMENTTHEPOSSIBILITYOFFAILURESHALLBETHEIMPLEMENTATIONOFTHERISKOFINVESTMENTPROGRAMSFOURTH,INVESTMENTRISK,INTERNALCONTROLSTRATEGICRECOMMENDATIONSALTHOUGHTHESMEINVESTMENTWILLBEFACINGAVARIETYOFRISKS,THERISKOFINVESTMENTPERFORMANCEISVASTLYDIFFEREN

35、TBUTASLONGASSMALLANDMEDIUMENTERPRISESTOTAKEAPPROPRIATEINTERNALCONTROLMEASURES,SMESCANTOAVOIDINVESTMENTRISKS,WHICHWILLMINIMIZEINVESTMENTLOSSES,THEBUSINESSOWNERSTHEYCANANACCEPTABLELEVELTOTHISEND,THISPAPERPROPOSESTHEFOLLOWINGINTERNALCONTROLRECOMMENDATIONSAESTABLISHTHEINVESTMENTRISKAWARENESS,STRICTCONTR

36、OLOFENTERPRISESCALEGOVERNANCESTRUCTUREOFSMALLANDMEDIUMENTERPRISESARELESSDEVELOPED,ITSPOLICYMAKERSAREMOSTLYOWNERSTHEMSELVESMANYOWNERSCANNOTUSETHEECONOMICSANDFINANCIALMANAGEMENTDECISIONMAKINGTOOLSONTHEDECISIONMAKINGSMEBUSINESSOWNERSSHOULDDOMORETOSTUDYFINANCIALMANAGEMENTKNOWLEDGE,INCREATINGANDOPERATING

37、BUSINESSESTHROUGHOUTTHEPROCESSMUSTBEFIRMLYESTABLISHED“INVESTMENTRISK“CONSCIOUSNESSINCEPTIONINTHEENTERPRISE,COMPANIESNEEDMOREINPUTANDOUTPUTSMALL,MOSTLYSMALLANDMEDIUMENTERPRISESARELOSINGMONEYBUSINESSRISKSOFRESISTANCEAREVERYFRAGILESMESSHOULDBE“HOWTOSURVIVE“ASTHEPRIMARYBUSINESSDEVELOPMENTGOALSYANGHAIPIN

38、G,CUIRONGFANG,2008INATIMEWHENBUSINESSGROWTH,THERAPIDDEVELOPMENTOFSMALLANDMEDIUMENTERPRISESINTOTHECHANNELATTHISPOINT,COMPANIESHAVEACERTAINAMOUNTOFSALESREVENUEANDCASHTHEAMOUNTOFEXTERNALFINANCINGMOREEASILYTHANTHECOMPANIESFOUNDEDATTHEBEGINNINGATTHISPOINTMOSTLIKELYTOPRODUCESMALLANDMEDIUMENTERPRISESTOEXPA

39、NDPRODUCTIONSCALEOFTHEIMPULSE,BUSINESSOWNERSSHOULDSTRICTLYCONTROLTHEINVESTMENTSCALETOAVOIDTHEFALLINTOTHE“BIGGERANDSTRONGER“TRAPTHEOCCASIONOFMATURITYINTHEENTERPRISE,SMALLANDMEDIUMENTERPRISESINVIGORATINGPRODUCTSALES,ANDCASHHASASURPLUSATTHISTIMEOFTHESMEOWNERWILLWANTTOEXPANDENTERPRISESCALEHOWEVER,THESME

40、OWNERCANNOTBECARRIEDAWAYBYTHEIMMEDIATESUCCESS,THEREMUSTBEVIGILANTINPEACETIME,THEHEARTOFCAUTIONWALKINGONTHINICE,WILLCONTROLTHEPRODUCTIONSCALEOFENTERPRISESINTHEENTERPRISECANBECONTROLLEDWITHINTHECONTEXTOFWHENTHEENTERPRISE,ONCEENTEREDARECESSIONWHENTHEINVESTMENTNEEDSOFSMESTOBEMOREVIGILANTSINCETHERECESSIO

41、NINTHEENTERPRISE,DUETORUSHTOBAILOUTSMALLANDMEDIUMENTERPRISES,BUSINESSESHADTOFINDANEWECONOMICGROWTHPOINTS,SUCHASCONVERTINGINORDERTOPRODUCERESTRUCTURING,SMESMUSTBEANEWROUNDOFINVESTMENTINFIXEDASSETS,INCLUDINGTHEPURCHASEOFMACHINERYANDEQUIPMENT,TRANSFORMINGTHEORIGINALPLANTOREXPANSIONOFNEWPLANTSANDSOONTHE

42、DECISIONMAKINGATTHISPOINT,IFSMESARENOTCAREFUL,CANNOTBEWELLPLANNEDSCALEOFINVESTMENTISLIKELYTOFALLINTOOTHERPEOPLEHAVEALREADYDUGA“HOLE“INSIDEBIMPROVETHEINVESTMENTDECISIONMAKINGMECHANISM,REFUSEDTO“SAY“,“PATRIARCHAL“SMESAREOFTENFOUNDERSONTHEIROWNABILITYTOWORKHARDINTHEMARKETAFTERMANYYEARSTOGROWUPBUSINESSO

43、WNERSTHATIS,THE“BOSS“TENDTOJUDGETHEIRABILITY,LEADERSHIP,DECISIONMAKINGSKILLSOVERCONFIDENTTHEYWILLCONSCIOUSLYORUNCONSCIOUSLYEXCLUDETHESEPARATIONOFPOWERSASTHECHARACTERISTICSOFAMODERNENTERPRISESYSTEMXUEXING,DOUYAN,2008WHENMAKINGINVESTMENTDECISIONS,BUSINESSOWNERSWILLNOTBEPRIORCONSULTATIONWITHEXPERTS,ACC

44、OUNTANTSADVICE,ANDNOTEVENCONSULTWITHTHEIRLOVEDONESISTOTALLY“PATRIARCHAL“,“ISAYGOES“WHENTHESMALLANDMEDIUMENTERPRISESISSTILLINTHEFAMILYPRACTICEDONACOTTAGE,THISDECISIONMAKINGMAYBEEFFECTIVEBUTGROWINTHEENTERPRISE,THISAPPROACHISCLEARLYTOGIVEACOMPANYHASINCURREDGREATERRISKTOCONTROLINVESTMENTRISK,SMESHAVETOC

45、HANGETHEDECISIONSOFTHE“PATRIARCHAL“,“ISAYGOES“APPROACH,ANDFULLYLISTENTOALLSUGGESTIONSCTHEPREPARATIONOFADETAILEDINVESTMENTBUDGETTOINVESTINOVERALLCONTROLANANCIENTSAYINGGOESFOREWARNEDISFOREARMEDANDWITHOUTPREJUDGINGTHEWASTEHERE,THE“PRE“INTERMSOFBUSINESSINVESTMENT,SHALLBETHEBUDGETBEFOREMAKINGINVESTMENTDE

46、CISIONS,SMESMUSTBETHESPIRITOF“SAVINGAPENNYEACH,“THEPRINCIPLETODOBUSINESS,ACCORDINGTOINVESTMENTTARGETSANDINVESTMENTPROGRAMSINTHEPREPARATIONOFADETAILEDBUDGET,SOTHATMETHODISSCIENTIFIC,ANDCOMPREHENSIVECONTENTINTHEINVESTMENTIMPLEMENTATIONPROCESS,MUSTBESTRICTLYBUDGETARYCONTROL,SOTHATGOODANDPROVINCESYANGXI

47、ONGSHENG,CHENZHIBIN,CHENSHENGJUN,2003DGOODEXTERNALFINANCIALEXPERTS,TOIMPROVETHEQUALITYOFINTERNALSTAFFTOINVESTINRISKCONTROLISAVERYSTRONGPROFESSIONALANDTECHNICALWORKSOMETIMES,THEBOSSSPERSONALDECISIONALONELEDTOTHEFAILUREOFANINVESTMENT,GIVINGALOSSTOBUSINESSOWNERSMOSTOFTHEMANAGERSOFSMESISTHEBOSSTHENEXTOF

48、KIN,WHOAREVERYLOYALTOTHEBOSSMAYNOTNECESSARILYHAVEFINANCIALEXPERTISETHEQUALITYOFPERSONNELISNOTHIGHINSUCHCIRCUMSTANCES,EXTERNALFINANCIALEXPERTS,SMALLBUSINESSOWNERSTOLEARN“USINGTHECHICKENSLAYEGGS“THEEXPERTSREQUESTEDTIMELYINVESTMENTINFEASIBILITYANALYSIS,PREPARATIONOFINVESTMENTBUDGETS,TOINVESTINTHEIMPLEM

49、ENTATIONOFTHEWHOLEPROCESSOFINVESTMENTFORTHEENTIREMONITORVCONCLUSIONINVESTMENTISRISKY,BUTTHEBULLMARKETSBIGGESTRISKISNOTTOINVESTCANFALLTHROUGHTHEROUND,MOREINVESTORSINTHISCASECAPITALINVESTORSTOINVESTINTHEEXPECTEDBENEFITSANDUNEXPECTEDUNDERSTANDINGOFTHERISKHASUNFORGETTABLEFORSMES,INVESTMENTINCLUDINGTHEEXPANSIONOFENTERPRISESCALE,LIKEADOUBLEEDGEDSWORDINVESTMENTINCOMEANDINVESTMENTRISKSWILLALWAYSGOHANDINHAND译文中小企业内部控制和风险投资资料来源HTTP/ENGHI138COM/I141511摘要中国的中小企业将继续进行投资以此来进行发展和壮大。但是，国际形势和民族政策的不可预知性和企业本身的政策失误以及其他方面的原因，可能会对投资中小企业活动带来商业损失。为了使投资损失降到企业可以接受的水平，本文分析了我国中小企业在投资过程中所具有的风险以及各风险的特点，还创造性地提出了如何利