摘 要
随着我国社会主义市场经济的逐步建立和完善,企业要想在激烈的市场竞争
环境中生存必须面临各种各样的风险。财务活动贯穿于企业的所有经营活动中,
财务风险融合了企业内部管理、生产、投资、技术等各方面的风险,企业所面临
的风险的核心就是财务风险。近几年来,不断有企业因为财务风险而走向消亡,
安然、雷曼兄弟,银广夏,东方电子等都是惨痛的实例。由此说明,如何进行财
务风险管理控制是企业可持续发展的重点问题。房地产行业是我国的新兴行业,
是近二十年来才开始进行改革的行业,其发展的过程却是突飞猛进的。但是,伴
随着房地产行业的快速发展,其所面临的风险也是不可被忽略的,这个行业有其
高收益性,也有着高风险性,财务风险也不得不被企业的管理层重视。

由于我国房地产行业起步较晚,企业投资行为尚缺乏规范性,加之经受着全球
经济环境变化、国内宏观调控政策等因素的影响,房地产企业作为特殊的投资主
体,投入的资金和资源的价值大、周期长、变现能力低,很容易导致经营成果和
财务目标、预计收益的偏离,面临着诸如此类的一系列财务风险,如何使房地产企
业适应经济的增长和保持自身可持续发展,并合理地进行财务风险管理便成了房
地产企业所面临的关键问题。

基于上述背景,本文采用规范和实例研究相结合的研究方法,以LB集团为
例对我国房地产企业的财务风险控制进行了阐述并提出了相应对策。本文的研究
首先是在总结国内外有关企业财务风险理论研究成果的基础上,结合我国房地产行
业的独有特点,分析该行业财务风险控制的现状以及存在的原因。其次,以LB集
团财务风险控制为案例揭示了集团内部的风险因素和财务风险控制问题。最后,
在前面理论研究和案例分析的基础上,针对性地提出三点提高LB集团财务风险控
制有效性的意见。其中创新的建立了财务风险预警体系,以此来及时提醒管理层
企业财务状况所面临的风险,确保企业能有效的生存和发展。

关键词:房地产企业财务风险内部控制风险管理
ABSTRACT
With the gradual establishment and development of Chinese socialist market
economy, enterprises must face all kinds of risks if they want to survive among fierce
market competition. All operation activities cannot be separated from financial activities,
the risks of enterprise technology, management, marketing, etc., are all embodied in
financial risk, and financial risk is the core risk faced by enterprises. In recent years,
many enterprises closed down in succession due to financial risk,such as Enron,
Lehman Brothers,Yin Guang xia and Eastern Electronics. It is observed that the
management and control of financial risk is an important issue for the sustainable
development of enterprises. Real estate industry is an emerging industry in China,its
reform was started in recent 20 years, but it developed by leaps and bounds. However,
with the rapid development of real estate industry, the risks faced can&39;t be ignorable.
The industry has high yield and high risk, and financial risk cannot be ignored by the
management of enterprises.
Since Chinese real estate industry started later, the investment behavior of
enterprises still lacks of normalization, additionally, it is often affected by different
factors, such as the change of global economic environment and domestic macro-control
policy,as the investment subject, the investment capital and resources of real estate
enterprises&39; are valuable and have long investment cycle and low cashability, and is
very easy to cause the departure between operation outcomes and financial target and
expected profit. When facing such financial risks,how to make real estate enterprises to
adapt economic growth and their own sustainable development, and carrying out
financial risk management become the key issue faced by them.
Based on the above background, the essay,adopts the study method combined with
regulations and case study,and takes LB Group for example, to elaborate financial risk
control of Chinese real estate industry and presents the countermeasures. The study, (1)
based on the summary of the research achievements on the related home and abroad
theories of enterprise financial risk control and integrated with the characteristic of real
estate industry, elaborates the current situation of the existing reason of the financial risk
control of the industry; (2) takes LB Group for example to reveal the internal risk
factors and financial risk control issues of the group; and (3) based on the above
theoretical study and case analysis, presents three pieces of effective opinions to
improve the financial risk control of the group. And financial risk early warning system
is established innovatively to remind the financial risks faced timely,so as to ensure
enterprises to survive and develop effectively.
Keywords: real estate enterprise; financial risk; internal control; risk management
第1章绪论
1.1研究的背景和意义
我国自1998年进行住房制度改革以来,正式确立了房地产的全面市场化方向。

随着经济体制改革的深入进行和国民经济的持续发展,以及城市化步伐的迈进,
房地产业进入到一个快速发展的时期。在2010年之前,房地产业的迅猛发展使各
种规模的房地产企业如雨后春算般建立起来,然而近2至3年以来随着中国政府
对房地产市场进行政策调控和大规模建设保障性住房,我国房地产将面临竞争更
加激烈的市场环境和变化更快的外部环境,房产企业幵始分化,小型企业逐步退
出,大中型企业则着眼于提升房产品质、质量和服务水平,以期平稳过渡。

我国房地产行业受政府决策和国内国外市场环境的影响较大,不确定因素较
其他行业更加繁杂。另外,大多数企业都是缺乏经营经验的新兴企业,投入的资
金和资源的价值大、周期长、变现能力低,很容易导致经营成果和财务目标、预
计收益的偏离,所面临的财务风险比较高。企业在日常经营管理的过程中,会时
刻遇到这些客观存在的财务风险,无论风险大小均对企业的稳定性和持久性有着
一定的影响,在某个特定的时刻也会对企业的战略目标产生极其重要的作用。基
于上述原因,企业的管理层在进行目标决策的时候就需要对企业有可能面临的各
项财务风险作出预先的判断并对其进行认真细致的分析。同时要求管理者根据企
业自身的实际情况将风险意识在F1常管理中进行不断的强化。然而,大部分房地
产企业的财务风险管理意识淡漠,管理手段落后,管理方法不够明确,在进行风
险管理的过程中遇到了各种困难和困惑。

本文以LB集团为例来讨论如何使房地产企业在既适应经济的增长又符合自
身可持续发展的前提下,准确识别和衡量企业中存在的财务风险,对风险进行有
效的控制,合理地进行财务风险管理,从而实现财务管理的最终目的。

1.2文献综述
国内外对财务风险的界定各不相同,到目前为止还没有一种权威的认定。我