First, is the understanding of corporate accounting on internal control. The principles of enterprise internal accounting control According to the relevant provisions of the “Basic Norms of Enterprise Internal Control” issued by relevant departments in my country.
Here are the articles to answer, Exploring the Effect of Corporate Accounting on Internal Control!
The principles that enterprises should follow in establishing and implementing internal accounting control are as follows:
First, the scope of control should be comprehensive. The scope of corporate accounting on internal control should cover corporate decision-making, execution, and supervision, including various businesses related to economic and capital activities.
Second, get to the point. While taking into account the comprehensiveness of the internal accounting control, it should grasp the key problem links, carry out the control in a focused and targeted manner, and avoid the occurrence of the problem of “grabbing the eyebrows and beards”.
Third, mutual restraint and mutual promotion. The establishment of corporate accounting positions should pay attention to the principle of mutual restraint and mutual promotion, clarify the distribution of responsibilities, separate accounts, and better maintain the safety of company assets.
Fourth, is the principle of institutional adaptability. The establishment of an enterprise’s corporate accounting on internal control system should meet the actual needs of the enterprise’s business scale, business scope, and capital operation, and should be adjusted at any time according to changes in the actual situation.
Problems existing in the internal control of corporate accounting
(1) Insufficient attention to enterprise accounting control management
In most enterprises in our country, due to the lack of understanding of modern enterprise management concepts, they do not understand the corporate accounting on internal control management of enterprises and do not pay attention to them. Many enterprises focus their work on production and operation, while internal accounting control management is only a mere formality.
The establishment of internal control systems is incomplete and unrealistic, and the implementation is not firm. Some enterprise managers even mistakenly believe that the establishment of The internal accounting control system will cause contradictions between departments, bring inconvenience to the operation of funds, etc. These wrong views lead to the operation of the internal assets of the enterprise in a state of runaway and highly dangerous.
(2) The internal accounting control system is not perfect
At this stage, some enterprises in our country have established corporate accounting on internal control systems, but careful observation and analysis show that these accounting control systems lack scientificity, feasibility, and systematicness in content. The content of the system is too one-sided, and under the influence of economic interests, the phenomenon of emphasizing operation and neglecting management appears, which makes the direction of internal accounting management unbalanced.
Secondly, the corporate accounting on internal control of the enterprise lacks a long-term mechanism and a preventive control system. It is used to control after the fact. When there is a financial problem within the enterprise and economic losses are caused, internal accounting control will be carried out, and after a few months, the control will be reduced. The problem will happen again.
(3) The quality of the internal accounting control personnel of the enterprise is relatively low
The internal accounting control management work of the enterprise involves various capital operations of the enterprise, so the scope is relatively wide. Therefore, managers are required to have comprehensive qualities. However, most of the internal accounting control personnel of the enterprise are based on basic qualities such as knowledge structure, educational background, and business ability.
The lack of professional ethics education for internal control personnel in enterprise management makes the control personnel have certain problems in professional judgment and self-regulation, and cannot meet the required requirements. Also, you like to read 3 Thinking of Accounting Firms for Small Business.
Methods and measures to strengthen the internal control of enterprises
(1) Increase the emphasis on the internal accounting control of enterprises
In the process of enterprise management, managers should, by relevant national laws and regulations, combine with modern enterprise management systems, attach great importance to the development of internal accounting control, establish the ideological concept of internal accounting control, and formulate practical corporate accounting on internal control based on the actual situation of the enterprise. accounting control system.
In the process of internal control, it is necessary to completely change the traditional wrong concept, take into account the relationship between economic benefits and asset safety, and make real-time adjustments based on the operating conditions of the enterprise based on the principles of standardized management and scientific operation. Strengthen the enterprise capital risk pre-judgment mechanism, avoid the occurrence of post-event control, correctly reduce the capital risk to a minimum, and ensure the safety of enterprise assets to the greatest extent.
(2) Establish a sound internal accounting control system
The key to enterprise internal accounting control is to establish a set of perfect control management systems as the basis. Then the establishment of an enterprise’s internal accounting control system mainly includes the following aspects:
First, is the enterprise’s monetary capital management system. Monetary capital is the most important part of the enterprise’s economic activities. It has the characteristics of wide coverage, large application scope, and high risk. Once there is poor control, it will cause misappropriation and loss of funds. Therefore, the establishment of monetary funds management system plays a very important role in the security of enterprise funds. An enterprise shall formulate a monetary fund management system by the relevant provisions of the Internal Accounting Control Norms – Monetary Funds (Trial) issued by the Ministry of Finance.
Second, the asset management control system is mainly a system for managing various materials such as the existing fixed assets and current assets of the enterprise. In the formulation, focus on strengthening and standardizing financial accounting information, management authority, asset inventory, and asset management.
Third, the internal audit supervision system of the enterprise, the establishment of this system is mainly to strengthen the supervision and management of various financial activities of the enterprise as the goal. Give full play to the responsibilities of the internal control auditors of the enterprise, on the one hand, supervise the implementation of the internal accounting control of the enterprise, on the other hand, create a good internal control environment for the enterprise and make the operation of enterprise funds more secure.
Exploring the Effect of Corporate Accounting on Internal Control; Photo by Sarah Elizabeth on Unsplash.
Relationship between Financial Management and Management Accounting; With the transformation of the modern economic situation, the new concept believes that financial management and management accounting can be gradually integrated and developed, so the overlap and repetition of financial management and management accounting have become an unchangeable fact. Know about Thinking of Accounting Firms for Small Business.
Here are the articles to answer, the doubts about the Relationship between Financial Management and Management Accounting!
This article starts from the similarities and differences between financial management and management accounting, analyzes and compares the two, reflects the mutual learning and absorption between the two, and promotes their respective development together. Secondly, comprehensively analyze the focus and key objects of their work, to define the content of the two.
In the accounting profession, management accounting and financial management are of equal importance, both have deep historical origins, both originated in the 1920s, and have a lot in common in content, both have their own It has its specific research and service objects and development directions. This paper aims to demonstrate the important role of management accounting in the modern economy through comparative analysis and research into management accounting and financial management.
3-1 The similarities between financial management and management accounting;
In the reference book designated by the national certified public accountants, the financial department proposes that financial management is “a part of enterprise management, and is the management work related to the acquisition and effective use of funds”.
This definition highlights that financial management is the management of how funds are obtained and used effectively. After the introduction of western management accounting, some domestic experts believe that management accounting is an emerging discipline, which is generated to meet the needs of enterprise internal management forecasting, decision-making, control, and assessment.
Strengthen enterprise management and improve economic efficiency. It is not only a means to realize the modernization of enterprise management, but also an important content of enterprise modernization management. It can be seen from the above definitions that financial management and management accounting have the same management attributes, and their basic functions are to serve the management of enterprises and meet the needs of enterprise operation and development.
In addition to this fundamental commonality, financial management and management accounting have the following similarities: from the perspective of method system, management theory, and management process, both are carried out in the order of planning, decision-making, execution, and control; two The source of the information analyzed by the readers is the financial and accounting data of the enterprise; the data and report texts and other text carriers generated in the management of the two have no legal effect, and almost no legal responsibility is assumed externally; the two are mainly based on the enterprise’s Operational reality, to take certain measures to actively promote the development of enterprises.
3-2 The difference between financial management and management accounting;
Financial management and management accounting has developed today, and the differences between the two are particularly obvious. The most fundamental difference between the two is that the main content of financial management is to manage funds, and the focus is on how to obtain more funds at a lower cost and how to use funds more efficiently.
Financial management is an important link between the external environment and enterprises and is closely related to the operation of financial markets. Management accounting is about the operation and management information system of an enterprise. It is necessary to consider not only how to use funds efficiently, but also how to best allocate the materialized funds in operation and management activities.
Management accounting also realizes the management of talents through performance evaluation, responsibility accounting, and control accounting, and efficiently allocates talents, resources and positions through effective arrangements, thereby improving the operation and management efficiency of enterprises. The concept of time value in financial management introduces the relevant content about cost and profit in economics, which affects the management and economic benefits of enterprise operation.
And management accounting has continuously absorbed many theories and methods in its development process. These theories and methods can also be digested and absorbed by financial management. In addition, the incentive theory and entrustment theory absorbed by management accounting has a great inspirational effect on financial management activities and performance evaluation in economic practice and are worth learning from.
3-3 Solutions to the intersection of financial management and management accounting;
The general principle in the process of dealing with this problem is: first of all, the repetition rate of the teaching content between the two courses should be minimized, the learning efficiency and interest of students should be improved, and various knowledge points should be coherent according to the requirements of practice, to establish a complete body of knowledge. Therefore, the author thinks that the content of traditional management accounting should be integrated with financial management courses, or directly merged into a financial management course.
From the current development trend, emerging management accounting has gradually become an independent discipline. At the same time, traditional management accounting and financial management are the same in terms of research purposes, objects, characteristics, and reflected content, which is also the basis for the integration of the two.
Combining these two courses into one course has many advantages:
It is beneficial to reflect the theoretical relationship between the two as a whole, to form a complete theoretical system;
In the arrangement of practical training courses, the relevant After the content is integrated, the training can make the students better grasp the content and essence of enterprise fund management, make it more realistic, and improve the training efficiency and interest of the students.
Conclusion;
For an enterprise, both financial management and management accounting are the needs of internal management. It can effectively manage the entire process of the enterprise’s production and operation activities, improve the efficiency of the use of funds, and maximize the economic benefits of the enterprise. Although the relationship between financial management and management accounting is still at the stage of the debate, the differences between them can still be distinguished from different perspectives. Although they have different divisions of labor, they are of great significance to the long-term development of enterprises.
Relationship between Financial Management and Management Accounting; Photo by Beatriz Pérez Moya on Unsplash.
3 Thinking of Accounting Firms for Small Business Expanding for Financial Consulting Business Essay; With the development of the market economy, China’s market economy management system is also constantly improving. However, many small and medium-sized enterprises have some problems in the process of operation, which affects the further expansion of the scale of the enterprise. Enterprises do not know much about the related issues in finance and operation. They need professional institutions for consultation, which is a financial consulting business. Do you like to read 5 Types of Savings Account in the Financial System?
Here are the articles to answer, the doubts about the top accounting firms for small business, expanding for Financial Consulting, and Business Essay!
The development provides a good opportunity. As a professional financial intermediary agency, accounting firms have certain advantages in the financial consulting business, and can better expand the business scope of the firm through the development of financial consulting business, which is of great significance for the development of accounting firms. This paper conducts comprehensive research and analysis on the key problems of accounting firms expanding financial consulting business at present, and proposes corresponding solutions for specific problems, hoping to provide some reference for accounting firms to better expand the financial consulting business.
At present, the main business of accounting firms is to engage in audit, review, and other assurance services. The financial management consulting business is not the main business of accounting firms at present. Therefore, in the process of daily operation, it is rarely valued by the firm. However, an accounting firm is an organization with a professional financial team. Therefore, the professional knowledge in corporate financial management consulting is relatively solid. At present, there are some problems in the expansion of the financial consulting business by accounting firms for small business, which affect the further expansion of the business scope.
The main content of accounting firms to expand financial management consulting business
First, the agency bookkeeping business, mainly helps small and medium-sized enterprises to provide agency bookkeeping and monthly and quarterly reporting services. A certain amount of agency fee is charged through agency bookkeeping to obtain a certain income.
Second, the enterprise registration business is the accounting firm that provides registration for newly established enterprises, or time changes and cancellations of industrial and commercial information and other related services, to charge a certain labor fee.
Third, the design business of the financial management system is mainly to help enterprises to better carry out financial operations and obtain certain remuneration by providing internal financial position settings for enterprises or formulating some financial management-related systems for later managers.
Fourth, help the enterprise to carry out strategic planning, formulate scientific and reasonable strategic planning according to the enterprise’s development strategy and the actual situation of the enterprise, to help the enterprise to complete the development strategy and the annual financial indicators formulated by the enterprise manager.
Fifth, budget management, which is mainly to formulate budget plans according to the business situation of the company in previous years and its future development strategy. This can facilitate the enterprise to better implement the relevant budget indicators and provide a good guarantee for the realization of the enterprise’s business goals.
Sixth, the tax planning work is mainly to reduce the tax burden of the enterprise by providing tax planning for the enterprise and reducing the various service fees charged by the enterprise’s operating pressure.
Seventh, the setting of the internal control system and the setting of the supervision system, the accounting firm designs the complete internal control process for the enterprise to help the enterprise better conduct internal supervision.
Eighth, corporate investment activities are mainly to help companies choose investment plans that are more in line with their business characteristics. Conduct a comprehensive investigation of the financial situation of the project before investment, and provide data support for the enterprise to make investment decisions.
Ninth, the financing plan of the enterprise, according to the capital situation of the enterprise, the rational planning of the financing plan.
Tenth, carry out a comprehensive performance appraisal according to the business operation of the enterprise and provide performance services for the enterprise.
Eleventh, the value evaluation of the enterprise is mainly based on the operation of the enterprise and the operation of each project, as well as the overall experience of the enterprise. A comprehensive assessment of value.
Twelfth, human resources consulting, mainly to provide talent planning for enterprises, to better design the salary standards of enterprises, and to fully motivate employees to carry out daily work.
Advantages and problems faced by accounting firms in expanding financial consulting business
Advantages of accounting firms in expanding financial consulting business;
The project personnel of the accounting firm has high professional standards. There are a large number of certified public accountants in the accounting firm. They have received higher vocational education. Their good professional theoretical level can provide a good theoretical guarantee for the financial management consulting business.
In the process of auditing, they have come into contact with financial accounting in different industries. Therefore, in the process of consulting business development, accountants have certain work experience, which is of great positive significance for better improving the comprehensive level of financial management and ensuring the improvement of the financial consulting level.
Accounting firms have a better understanding of the financial management needs of enterprises. At present, there is a very close relationship between Chinese accounting firms and enterprises. Whether it is daily audit business or review business, we are committed to providing better services for enterprises in the process of carrying out. In the process of auditing business, they understand the relevant needs of enterprises and have a certain understanding of how to carry out relevant work.
On this basis, we can better provide financial consulting services from the perspective of enterprises, which is of great positive significance for improving the comprehensive level of financial consulting services. Accounting firms have a better understanding of the needs of enterprises in their daily business, which provides reliable market resources for firms to carry out financial consulting business, and has a positive impact on the development of the firm’s financial consulting business.
CPA has a good reputation. With the continuous increase in the number of certified public accountants in my country, the professional standards and professional service spirit of certified public accountants have also been highly recognized by people from all walks of life. A good practice spirit and social reputation will attract more customers to hire accounting firms to carry out related financial consulting business, which is very positive for the further development of accounting firms’ financial consulting business.
Relevant problems in the process of expanding the financial consulting business of accounting firms;
Financial management consulting professionals continue to drain In recent years, with the overall reduction and upgrade of the statutory business of certified public accountants, the competition in the industry is gradually intensifying. CPA not only needs to rely on brain power but also needs to consume a lot of physical strength. However, their remuneration has not been significantly improved, which leads to the continuous increase of the turnover rate of professional talents in financial management consulting of accounting firms.
Many certified public accountants with comprehensive professional knowledge and rich practical experience have joined relevant management positions in enterprises. Therefore, the brain drain of accounting firms is serious, resulting in the shortage of professional talents in the process of expanding the financial consulting business of accounting firms.
The intensified market competition in the financial management consulting business has intensified the difficulty of business expansion. At present, financial management consulting is not only undertaken by accounting firms, but also by enterprises and financial industry enterprises. Therefore, the overall competition in financial management consulting is very high. big.
Many colleges and universities and other types of consulting institutions have opened financial consulting services. Coupled with the further expansion of the influence of foreign consulting companies in my country, it is very difficult for my country’s accounting firms to develop financial consulting services.
The level of financial consulting informatization is relatively low, which reduces the quality and efficiency of the business. Currently, in the information age, accounting firms need to use information technology to complete many financial consulting services, comprehensively improve the consulting effect, and ensure consulting efficiency.
However, at present, the overall informatization level of accounting firms is relatively low, and they still use traditional consulting business processing methods. The efficiency of their work cannot meet the needs of customers for financial consulting services, resulting in work efficiency and work quality cannot comprehensively obtain. The improvement of accounting firms has affected the further expansion of financial consulting services by accounting firms.
Effective methods for accounting firms to develop a financial consulting business;
Reform the compensation system and attract outstanding talents;
At present, accounting firms should set up a professional project team in the process of conducting financial consulting business to have a comprehensive understanding of the financial consulting business, and at the same time form core competitiveness, to provide accounting firms with more professional financial services through professional talents. consultation service.
To better retain talents, accounting firms should improve the traditional compensation system and establish a performance appraisal mechanism. Set up different performance appraisal indicators according to the work behavior of the relevant staff, to motivate employees to join the accounting firm’s financial consulting business. At the same time, accounting firms should pay more attention to professional talents and provide them with more diversified training.
Comprehensive assessment of professionals from different aspects. In the process of assessment, it is necessary to establish key performance indicators, and use the balanced scorecard and other related methods to achieve comprehensive training of talents, attract talents while cultivating talents, and provide good financial consulting services for accounting firms. human resources foundation.
Innovate business models and enhance customers’ recognition of corporate services;
With the development of the market economy, the current market competition for financial consulting businesses is increasing year by year. To better gain a competitive advantage in the fierce market competition, first of all, accounting firms should constantly innovate the current business model, and should not continue to use the traditional business model.
To better expand the financial consulting business, accounting firms need to Strengthen marketing innovation, use new marketing methods, let more customers understand the accounting firm’s financial consulting business, and provide customers with good consulting services so that every customer can have an understanding of the accounting firm’s financial consulting business. Basic understanding. Secondly, in the daily service process, it is also necessary to increase the stickiness with customers, establish its brand, and establish a good brand image.
In this way, when customers need some financial consulting needs, they can think of an accounting firm for the first time, to ensure that the financial consulting business of accounting firms can be carried out more widely. To better enhance customer stickiness, the managers of the firm need to use some internal control system diagnostic services to attract customer recognition. Users understand the relevant consulting business. This is a good marketing method, and it is also a solution to the accounting firm’s financial consulting scope. A small important way to this problem.
Increase investment in research and development and improve the level of informatization;
In the Internet era, information technology has become an important factor affecting the overall market operation. In the process of expanding the financial consulting business, accounting firms should actively carry out research and development of products and services, and at the same time increase investment in information technology to comprehensively improve the information technology level of accounting firms’ staff. Read new Software Project Management Plan and Control Method Essay.
First of all, in the process of daily operation, accounting firms should increase information input and use information equipment to achieve basic service work, which is of positive significance for better improving the effect of financial consulting. Secondly, accounting firms should actively cultivate the information technology level of staff, use information technology to improve the efficiency and treatment of financial consulting; and provide a good reputation for the development of accounting firms, to maximize the ability of financial consulting services to be guaranteed. More standardized development in accounting firms.
Conclusion;
Through the investigation and analysis of the relevant problems in the process of financial consulting business development of accounting firms in my country, this paper finds that the existence of many problems has become an important factor affecting the financial consulting business development of accounting firms. Accounting firms must attach great importance to specific problems, analyze specific problems based on reality, maximize the application scope of accounting firms’ financial consulting, and inject new vitality into the development of accounting firms. It is believed that shortly, with the further development of the accounting firm, its financial consulting business will become the main force of the firm’s business operations, providing a reliable source of income for the firm’s development.
3 Thinking of Accounting Firms for Small Business Expanding for Financial Consulting Business Essay; Photo by Dan Dimmock on Unsplash.
