Management accounting application forum held in Beijing
- By Guo Xiaohong
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E-mail China.org.cn, May 27, 2017
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The Management Accounting Application Forum for Financial Enterprises was held in Beijing yesterday. [photo by Guo Xiaohong/China.org.cn] |
More than 300 people attended the forum, including Shu Huihao, deputy director of the Accounting Department of the Ministry of Finance, Albert Ng, EY’s regional Managing Partner, Greater China, and representatives from China’s commercial banks, security firms and universities.
The nine-month research by the EY’s project team yielded initial result, which would be discussed and shared at the forum, said Albert Ng at the forum. The research will help stimulate management accounting application instruction for financial enterprises.
"Top-level attention, talent pool construction, information system upgrading and improved system are key for successful application of management accounting in financial enterprises,” said Albert Ng. Management accounting is important for policy makers in their strategy layout.
Deputy Director Shu Huihao of the Accounting Department of the Ministry of Finance echoed Ng, saying management accounting is an effective tool for the integration of finance and strategy making for enterprises and can help improve company’s leadership and performance.
He revealed that China will build a management accounting system including basic instruction, application guideline and data for cases by the end of 2018.
Wang Peng, EY’s team leader for this research project, said Chinese financial enterprises have intermingled levels of management accounting. This research result of EY would offer suggestions and references for building and improving application system of management accounting for financial firms.
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