Cost control is one important topic in today’s financial management. It not only reflects the scientific approach of organizations’ management, but also shows optimizes the companies’ structure. Finance is a critical element of companies’ long-term and sustainable development, which has to some extent comprises the cost control in its scope. This thesis tries to elaborate the importance of cost control in financial management and unveil the cost control problems in modern enterprises. The author overlooks the general financial management system in China and probes the weaknesses of it. After a series of the analysis, the author proposes three recommendations: one is to adjust the orientation of cost control, the other two are to provide the necessary political support and to establish an independent department within the company.