预算编制起点重构:业财融合与商业计划——基于万科企业和中南建设年报披露MDA中部分内容的讨论

Reconstruction of the Starting Point of Budget Preparation:Integration of Business and Finance by Using Business Plan:On the Discussion of Some Contents in the MDA Disclosed in the Annual Reports of Vanke and Zhongnan Construction

传统预算起点论中大多以“财务类指标”作为预算编制的起点,体现财务倒挤业务的编制逻辑,可能造成“业财分离”等问题出现。基于战略分解与落地的企业商业计划来自业务部门,体现组织的业务特色、描述完整的业务链、反映价值创造过程,为预算管理提供精细化的框架与依据。本文采用双案例分析,通过万科企业和中南建设这几年的年报披露MDA中关于经营计划的内容,提炼了商业计划的内容逻辑,并对预算编制的牵引作用进行总结。本文研究结论发现:将商业计划作为全面预算的编制起点,体现了“战略目标—战略举措—商业计划—财务预算”的管理逻辑,以业务为引领的预算管理能够更好地实现资源的合理配置,更好地发挥管理控制职能。

In the traditional budget process, "financial indicators" always plays the role as the starting point of budget preparation, which reflects the logic of “financial backward squeeze business”, causing the "separation of business and finance". The enterprise business plan based on strategic decomposition and execution comes from the business department, reflects the business characteristics of the organization, describes the complete business chain, reflects the value creation process, and provides a "refined" framework and basis for budget management. This paper uses double case analysis to reveal the contents of the business plan in the MDA through the annual reports of Vanke enterprise and Zhongnan Construction in recent years, refine the content logic of the business plan, and summarize the traction effect of budget preparation. This paper finds that the business plan as the starting point for the preparation of the comprehensive budget reflects the management logic of "strategic objectives-strategic measures-business plan-financial budget". This new mode of budget preparation can better achieve the rational allocation of resources and better play the management control function.