Financial transformation can be divided into three categories:
1. Strategic financial model. Strategic finance is to convert the long-term objectives and plans of an enterprise into a financial forecasting model, simulate and analyze the possible financial situation of the target enterprise under different preset conditions, and conduct valuation, so that managers can analyze the long-term financial impact of different strategies and select the best strategic plan;
2. Share financial model. The financial shared service is to get the accounting business of entities in different countries and locations to a shared service center for bookkeeping and reporting. The financial shared service ensures the standardization and unified structure of accounting records and reports, and saves system and labor costs;
3. Lean business management finance. The main direction of lean business management finance is to extend finance to business, and activity-based costing is an important practice and application of lean management in the financial field.
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How to transform and upgrade financial personnel
Financial transformation is both an opportunity and a challenge for financial personnel, who must update their concepts, knowledge structure and skills from all aspects to be competent for the new role.
First, change thinking and establish advanced financial management concepts. The concept and thinking of financial management is an important foundation of financial management, which has an important impact on the content, method and quality of financial management. It is the premise for financial personnel to establish correct financial management concept to adapt to financial transformation and do a good job in financial work. First, strengthen the overall awareness, cultivate strategic thinking and systematic thinking habits, and enhance the sensitivity to the external environment of the enterprise. Actively understand the development strategy, development objectives and development model of the enterprise, understand the development plan, specific objectives and measures of various business activities involved in financial management, and pay attention to the international and domestic political and economic situations, macroeconomic policies and industry trends that affect the operation and development of the enterprise. Carry out various financial management work based on the overall situation and future development needs of the enterprise. Secondly, establish the concept of value management to achieve the financial goal of maximizing enterprise value. In financial management, we should not only attach importance to short-term interests, but also pursue long-term and sustainable healthy development of enterprises. It not only pursues its own development, but also creates value for shareholders, customers, suppliers, employees, society and other stakeholders. At the same time, strengthen market judgment, competitor analysis, risk prevention and control awareness.
The second is to improve the knowledge structure and enrich the knowledge and skills of business management. Financial transformation broadens the financial management field of financial personnel, strengthens the breadth and depth of financial personnel's participation in enterprise operation and management, and puts forward higher requirements for the knowledge structure of financial personnel. Financial personnel should not only strengthen business learning, master new financial concepts and methods, and gradually improve financial knowledge system and skills. It is also necessary to have a deep understanding of relevant knowledge such as value management, strategic management, corporate governance, information technology, marketing management, investment and financing, enterprise law, etc. To adapt to the requirements of financial transformation by building a comprehensive management knowledge framework. Only in this way can we make accurate judgments and accounting treatment in the complicated economic relations, provide reliable financial information in time, and play a good role in supporting decision-making for enterprise operation and management.
Third, strengthen the integration with business and become a business partner. Financial transformation is to maximize enterprise value through value analysis and management control of each link of enterprise production and operation. If the financial management is not closely linked with the business, the production factors, costs, operational risks, market changes and other information in all aspects of production and operation cannot be reflected in a timely and accurate manner, the enterprise resources cannot be efficiently allocated and utilized, and the value analysis, supervision and control functions of financial personnel are difficult to fully play. Therefore, financial personnel should actively adapt to the trend of business integration and become business partners. Actively understand and master the production and operation business process, technology, equipment, products and market conditions of the enterprise, as well as the organizational form, working procedures, system regulations, etc. of operation and management. Actively integrate business cost management, pricing management, ERP management, contract management, performance management, compliance management and other broader areas. Actively intervene from the front end of the business, increase communication and cooperation with the business at each business process point, and participate in the whole process of business value creation, supervision and control. At the same time, we should also strengthen the cultivation of communication and coordination ability, focus on working methods, strengthen the working relationship of mutual cooperation and mutual support with business activities, and form a joint force with business to jointly serve the enterprise value goals.
Of course, the transformation of financial personnel requires enterprises to provide good growth space and work platform. First, enterprises should improve the financial management system and mechanism. Implement financial organization reengineering, financial process reengineering and financial personnel reengineering, and highlight the position of financial management in enterprise strategy. Further innovate the mechanism of talent selection, training and use, and increase the training of financial management personnel. Secondly, enterprises should attach importance to information construction. Starting from the dual orientation of enterprise value and risk management and control, integrate financial and business information resources, and create a unified financial decision support platform with transparent management and system integration centered on decision support.
How to carry out financial transformation
In order to achieve the transformation of financial management with the goal of value creation, financial management activities need to be extended to the two directions of collaboration at the operational level and control at the business level. To achieve this, it is particularly important to improve the ability of financial management personnel in relevant aspects.
How to improve these capabilities can be started from the following aspects:
The first is to improve the decision support ability and value creation ability of financial managers through function transformation.
The second is to strengthen the awareness of risk management, establish and improve the financial crisis early warning system, and improve the risk control ability of financial personnel.
The third is to improve the knowledge structure of financial personnel, improve the working methods and methods of financial personnel, and enhance the ability to coordinate and coordinate services by optimizing the setting of financial institution level personnel.
I think that to realize the transformation of financial management, it is not only the business of the financial department and financial personnel, but also the business of all the staff of the enterprise. The management concept and method of financial management must be popularized and popularized to every specific post, so as to realize the full membership of financial management.
It shall:
1. Strengthen the popularization and training of financial accounting knowledge of production and operation process staff, and improve their awareness and level of financial management. For different types of production and operation business, the staff shall be trained on financial accounting knowledge and internal control system.
2. Construction and improvement of enterprise information system. With the continuous improvement of enterprise informatization level, it has gradually started the transition from a single business system to the integration of various systems with finance as the core, the most typical of which is the ERP system
System. With the application of ERP system, the collection and sorting of accounting information has realized the automatic generation of accounting vouchers from the business side after being reviewed and confirmed by the accounting staff, which has broken away from the status that the generation of accounting vouchers was directly prepared by the accounting staff in the past.
In a word, to realize financial transformation and transform the enterprise from the traditional revenue accounting type, data management type, result analysis type and controllable cost oriented financial management to the revenue management type, value management type, process guidance type and comprehensive cost oriented financial management is to continuously improve the comprehensive competitiveness of the enterprise, It is the prerequisite for an invincible position in the fierce market struggle, otherwise, the enterprise will lose its vitality.
What are the contents of the financial accounting transformation work of the grassroots People's Bank of China
1、 The financial accounting transformation work of the basic level PBC includes:
1. We should closely focus on the central bank's performance of duties and the central work requirements of the grass-roots central bank, and consciously integrate the transformation practice into the overall situation of scientific performance of duties.
2. We should follow the pace of economic and financial development, strengthen the role of accounting in reflection, analysis, management, research, evaluation, and advice, and realize the transformation of accounting and financial work into proactive, managerial, and research-oriented.
3. We should carefully analyze, summarize and learn from the experience of the central banks of developed countries in adjusting the scale and structure of their balance sheets, respond to crises and implement macro-control, pay close attention to the effects and impacts of the changes in the central bank's assets and liabilities on monetary policy, and do a good job in collecting, monitoring, analyzing and studying accounting and financial information of financial institutions in their jurisdictions.
4. Continue to strengthen the analysis of the cost effect of macro-control policies and the movement of social funds, and timely reflect the economic and financial situation and impact of the jurisdiction.
5. It is necessary to implement the selection of specific transformation projects, clarify the key points and entry points of transformation, and ensure that the transformation achieves actual results.
6. On the basis of comprehensive consideration of the actual needs, resource allocation, risk control, accounting team strength, management effect and other factors of the accounting and financial work of the grass-roots central bank, we should scientifically select key areas and specific projects as the transformation objects, and do a good job in project initiation, review, evaluation, summary and other work.
7. Focus on the transformation tasks such as accounting risk assessment, financial performance evaluation, accounting supervision system, asset efficiency management, accounting culture construction, deepening investigation and research, and composite talent construction, solve the difficulties and problems faced by the current accounting and financial work, focus on the macro and detail, adapt to the situation, and be active and promising.
8. To explore the effective path of transformation, we must, on the premise of improving and standardizing the accounting and financial work system, operating procedures, and consolidating the foundation of accounting and financial work, get rid of the inherent thinking shackles, explore the transformation work rules and carry out transformation practice with a solid attitude and the spirit of striving for excellence.
9. It is necessary to expand and extend the vision of accounting and finance to the whole financial system, explore and carry out the research on major issues and new topics such as the balance sheet management of the central bank, the research on the financial strength of the central bank, the convergence of international accounting standards, the accounting innovation business of commercial banks, and the participation of central bank accountants in macro financial decision-making, and combine the economic and financial development situation of the jurisdiction with the operation situation of financial institutions, Implement the follow-up investigation of the subject, make full use of the network and information data resources, carry out quantitative or qualitative forward-looking research and analysis, and promote the accounting and financial work to keep pace with the times and innovate and develop.
10. At the same time, actively build and improve the accounting and financial letter exchange mechanism, share the latest information, and discuss typical issues.
2、 Responsibilities of the People's Bank of China at the grass-roots level
1. The grassroots PBOC refers to the grassroots PBOC
According to the legal responsibilities of the People's Bank of China as defined in the Law of the People's Bank of China, the responsibilities of the grass-roots branches of the People's Bank of China mainly include three major responsibilities: policy information feedback, financial support services, and financial environment construction.
2. We need to pay close attention to the interest rate pricing of local financial institutions and the impact of shareholders' movements on the stock market.
Grass roots central banks should analyze and judge the degree of compliance with industrial policies in combination with local pillar industries and loan investment. More importantly, it is necessary to judge the possibility of inflation caused by credit investment, and continuously pay attention to and analyze the local price trend.
3. Clarify the thinking, take anti money laundering as the starting point, strive to maintain the financial stability and consolidate the foundation within the jurisdiction, exercise the necessary inspection and supervision power according to law, and constantly strengthen the financial services within the jurisdiction.
3、 Necessity of Financial Accounting Transformation of the People's Bank of China at the Grassroots Level
The People's Bank of China has continuously deepened the transformation of accounting and financial work, promoted the transformation of the work center from the traditional transactional and operational type to the research and management type, and initially proposed a work transformation framework centered on the management of "two sheets", guaranteed by the improvement of rules and regulations, based on the establishment of a standardized system, required by standardized management, and guided by the promotion of performance evaluation.
4、 Factors Restricting the Accounting and Financial Transformation of the People's Bank of China at the Grassroots Level
1. Lack of perfect supporting system.
At present, the Budget Management Regulations of the People's Bank of China and the Financial System of the People's Bank of China implemented by the People's Bank of China were formulated in 1997 and 1999 respectively, with older versions. In recent years, the People's Bank of China has undergone institutional reform and functional adjustment, and the content of financial management and the setting of accounting subjects have undergone tremendous changes. The original system can no longer meet the needs of accounting and financial work, and can not be used to guide the transformation work. The lagging financial budget management system has become an important factor restricting the transformation of accounting and financial work.
2. Lack of clear operation guidance.
With the deepening of the transformation work, some accounting and financial personnel still have insufficient understanding of the height, connotation and urgency of the transformation, limiting the transformation to strengthening accounting research and analysis, and failing to recognize that further promoting the scientization and standardization of financial budget, project construction, centralized procurement and asset management is also an important part of the transformation work. At the same time, the lack of clear action plans and detailed implementation plans is also a bottleneck that restricts the transformation work to develop in depth.
3. The current model cannot fully meet the needs of transformation.
The transformation of accounting and financial work includes the improvement of management methods, advocating the concept of "matrix" management, that is, for specific business projects, in accordance with the principles of integration of sections and equal rights and responsibilities, strengthen the business department's line guiding role, finance serves the business, and business should also consider financial constraints. Under the current system, it mainly adopts the linear management mode, which lacks the organic connection with business management, leading to the disconnection between financial management and business guidance, and restricting the leading and promoting role of accounting and financial work on business work.
4. The budget management system is not perfect.
Under the current system, the budget arrangement of the grassroots central bank lacks flexibility. The project expenditure budget is managed by the whole account, and the use of various accounts is not allowed to be coordinated. As a result, the account with insufficient budget cannot fully guarantee the need to perform its duties, and the account with sufficient budget has the problem of inefficient use of funds or even waste of funds. In addition, the budget evaluation mechanism of grassroots banks is not yet sound, and performance evaluation as the key to budget management has not been fully demonstrated. In the evaluation process, there are still some phenomena such as low participation of the authority departments, hot accounting departments, and insufficient application of the evaluation results, which are contrary to the budget management requirements of "spending money must be accountable and ineffective must be accountable" proposed in the transformation.
5. There is a gap between the quality of employees and the requirements of transformation.
On the one hand, there are prominent contradictions in the structure of grass-roots accounting personnel. It is generally believed that accounting and financial work is a basic work and an operational post, which only requires a certain amount of accounting knowledge.
On the other hand, the improvement of the comprehensive quality of accounting personnel is also subject to the post setting. With the continuous improvement of standardized and refined management requirements, grass-roots accounting personnel spend more energy on daily accounting and management. Some even hold several positions, and have no time to take into account the study of other professional knowledge, which seriously restricts the improvement of the comprehensive quality of accounting personnel.
