Transformation of Financial Accounting to Management Accounting under Artificial Intelligence
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Abstract:
With the full popularization of artificial intelligence in various fields and the intensification of market competition, enterprises urgently need to improve their management level and decision-making ability through the application of management accounting; on the other hand, artificial intelligence has replaced manual labor to complete the complicated and repetitive basic financial work, and automatically collects On the other hand, artificial intelligence has replaced manual labor to complete complicated and repetitive basic financial work, and automatically collects and stores a large amount of financial data, which enables a large number of financial personnel to have more time and energy to participate in enterprise management and decision-making through the use and analysis of financial data, and to provide valuable information. Therefore, the financial transformation in the context of artificial intelligence is imperative. However, at present, the financial transformation of enterprises is not smooth, for this reason, this paper analyzes the connotation of management accounting and financial transformation on the basis of an in-depth study of the current financial transformation of enterprises in the process of the problems and difficulties faced, and to explore solutions to countermeasures, in the hope of advancing the transformation of enterprise finance to provide references and lessons learned.
Keywords:
Artificial Intelligence; Financial Accounting; Management Accounting; Financial Transformation
INTRODUCTION:
In this era of rapid development of information technology, the application of Artificial Intelligence technology in various industries and fields is becoming more and more extensive, and it has a great impact on the financial accounting work of enterprises. Financial accounting work also has a great impact on the financial accounting work, financial accounting in the simple and repetitive basic work has been gradually replaced by artificial intelligence, financial accounting to the transformation of management accounting is an inevitable trend, but due to the deep-rooted traditional thinking of financial accounting, the transition process is difficult, facing more problems, the transformation of the overall promotion of the slower, the paper analyzes the problems in the process of transition, study the solution to countermeasures to promote the transformation of This paper analyzes the problems in the transition process and examines the countermeasures to promote the accelerated transformation of enterprises to management accounting and better adapt to the development of the new era.
First, the connotation of management accounting and the relationship with financial accounting
Management Accounting (ManagementAccounting) is separated from the traditional accounting system, and is juxtaposed with financial accounting, focusing on the management of the enterprise to provide reasonable decision-making advice, used to improve business management, improve the economic efficiency of an accounting branch. It is a branch of accounting that focuses on providing reasonable decision-making advice to the management of the enterprise, which is used to improve the management of the enterprise and enhance the economic efficiency of the enterprise. Management accounting is a branch of accounting that uses the tools of management accounting to participate in the planning, decision-making and evaluation of an enterprise according to the plans, decisions and different economic activities of the enterprise, so as to promote the realization of the strategic plan of the unit. Financial accounting is to recognize, record, measure and report the economic operations or events that occurred in the past of the enterprise in written form, and to provide financial accounting reports for different parties related to the interests of the enterprise, so financial accounting is external reporting accounting. And management accounting is based on financial accounting information, the use of specialized tools and methods to analyze and process financial data, for the enterprise's economic activities before the planning and decision-making, supervision and control, evaluation and assessment of the aftermath of the provision of effective information, so the management of accounting is the internal accounting, for the improvement of the level of management and decision-making ability has a very important role.
Second, the connotation of financial transformation and the need to analyze
(a) the connotation of financial transformation
The transformation of the financial function is the transformation of the original accounting accounting to management accounting, the use of advanced information technology, accounting staff from a large number of repetitive and complicated and basic accounting work liberated, which allows the accounting staff to have more time and time to work. Accounting personnel have more time and energy to participate in enterprise management and decision-making activities, and provide valuable information for these activities. Such as engaging in strategic planning, project decision-making, cost management, performance management and other those with high value-added, creative work, so the transformation of financial accounting to management accounting is based on information technology, is the inevitable result of the development of information technology. The goal of the financial transformation of enterprises is mainly to effectively support the whole process of business activities, and thus gradually from the daily simple accounting as the focus of financial accounting to resource integration, decision-making support as the focus of the transformation of management accounting, and at the same time to do an effective guide, and actively assist the relevant departments to do a better job in the whole process of business activities to manage the value of the value, so as to continuously enhance the value of the enterprise's economic value-added. Financial transformation can not be completed overnight, there is a need for a long process, is the enterprise in the continuous self-transformation to achieve scientific development, sustainable development of the inevitable process. Generally speaking, the main directions of financial transformation are as follows:
1. Strategic financial model
Strategic finance is to digitize the long-term goals and action plans of the enterprise into a predictable financial model, assuming that under different conditions of operation, investment and financing, simulate and analyze the operation and profitability of the target enterprise, and make use of the enterprise value assessment methodology to assess the value of the enterprise and its shareholders, so that senior management can see the different operating, investment and fundraising conditions, and simulate and analyze the operating profitability of the target enterprise. Evaluation, so that senior management can see the different strategies will have different financial impact on the enterprise, so as to choose the program with the best financial strategy for the enterprise. In the new economic situation, finance can no longer be passive to accept the change in business management, because the business strategy and financial strategy of the enterprise is increasingly closely linked to the model of strategic finance is also more and more recognized by the enterprise.
2.***Hang financial model
***Hang financial model refers to the group of companies will be distributed in different regions or different countries of the economic business, centralized in the financial ***Hang center to deal with, this is a common financial work and enterprise strategy management unified combination of management, for the promotion of more enterprises will be the unity of the financial business and the work of the relevant Combined together *** with the solution, so not only to ensure the standardization of accounting records and reports, structural unity, improve the efficiency of the work, but also to the maximum extent to promote the efficiency of the Group's utilization of resources, in promoting the enterprise to continue to implement the new strategic plan to provide a strong guarantee. It is of profound significance in promoting the continuous expansion of enterprises and the exploration of overseas markets. The biggest difference with the financial processing mode of ordinary enterprises is that the financial **** enjoyment service center can use its scale effect to greatly reduce labor costs, provide work efficiency, and at the same time can quickly improve the financial personnel`s `business level, and thus enhance the core competitiveness of enterprises.
3. Lean business management finance
Lean business management finance is the gradual extension of finance to business work. The finance department uses the business sector's lean management ideas and financial management ideas for a high degree of integration, the finance department's traditional financial budgeting, accounting and financial analysis of the functional departments into a profit center. Through the lean cost accounting, grasp the production chain of each step or process of the specific cost composition, including fixed costs, variable costs, and production of pure costs and mismanagement costs, etc., so that can be targeted to put forward effective cost-saving proposals, and then to achieve the purpose of guiding or suggesting the implementation of the production sector to reduce the total cost of the product. The finance department can analyze the difference in product costs before and after the implementation of the production process, and calculate the profit generated for the enterprise in accordance with the standard product price.
(B) analysis of the need for financial transformation
1. The current objective needs of enterprises
21st century, economic globalization and the spurt of emerging economies, making the economies of countries intermingled, increasing the complexity of economic development. In this context, the development of enterprises are facing many uncertainties, requiring managers to make accurate judgments about the risks they may face, and at the same time require enterprises not only to have a strong core business capacity, but also have first-class management capabilities, enterprises want to enhance these capabilities, it is necessary for the financial sector from the financial perspective for enterprise management and decision-making to provide value-relevant information, so the competition is forcing enterprises to urgently need to financial
2. Accounting development for the transformation of the conditions
Since the popularization of computers, after decades of rapid development, especially the application of financial processing software, the processing of all kinds of accounting information, and even began to use programming to achieve the automatic classification of some of the data and the collection of the application of managerial accounting provides a large number of valuable data for the application of management accounting, laying the groundwork for the application of financial accounting, therefore, financial accounting is the most effective way to improve the management of the enterprise. application has laid the foundation, so one of the basic conditions for the transformation of financial accounting to management accounting is already in place.
3. The application of artificial intelligence provides the conditions for financial transformation
In recent years, artificial intelligence began to be widely used in the field of accounting, computer artificial intelligence to automatically complete the day-to-day accounting work, such as the automatic generation of vouchers, the use of AI image recognition technology to preliminary audit of the original documents, batch file processing, etc., to save a large number of financial personnel, so they can put more time and energy on the operational activities. time and energy on the analysis and prediction of business activities, that is, on management accounting, so the application of artificial intelligence in the field of financial accounting provides another condition for financial transformation. When enterprises have both intrinsic needs and extrinsic conditions, the transformation of financial accounting to management accounting becomes inevitable.
Third, the current financial transformation of enterprises facing the problem
(a) insufficient attention to the degree of financial transformation
In most enterprises, generally, the core departments are sales, R & D and other departments, and the financial sector is in the status of non-core functions. The financial sector in the enterprise business decision-making in the lower degree of participation, some business managers on the understanding of accounting is still stuck in the bookkeeping, accounting, tax returns and other primary level. Due to the leadership of the importance of management accounting is not fully recognized, resulting in the transformation of financial accounting to management accounting is difficult, especially between the departments to promote the difficulties of cooperation, such as the personnel department and can not be arranged from the relevant personnel and job setup on the good cooperation, the business sector will also narrowly believe that the financial transition to make the business sector to increase the workload, and the depth of the financial staff to intervene in the business have Finance department personnel also feel that it is difficult to obtain relevant business data, understand the essence of the business, it is difficult to carry out in-depth excavation and analysis, and discourage the initiative to participate in the financial transformation of the enthusiasm. The end result is that the financial transformation work in form, management accounting information does not play a substantial role in business decision-making.
(B) the lack of management accounting work related mechanisms
To y play the advantages of management accounting, we must vigorously promote the integration of business and finance, embedded in the front-end of the business of the financial work, from the control of the aftermath of the forward to the ex ante planning, control, to do the whole process of financial participation in a timely manner to detect the risks arising from the business process, and timely and effective risk management. However, due to the natural differences between the business sector and the financial sector to focus on the performance indicators, the financial sector is often more concerned about the balance sheet, return on investment, budget implementation and other business indicators of the enterprise as a whole. While the business department focuses on sales, market share, money back and so on. Moreover, the financial sector is more concerned about risk prevention and control than the business sector, while the business sector in order to make large sales, often willing to take greater risks to carry out large-scale credit sales activities to expand business. All of these will lead to mutual disputes and even conflicts and frictions in the work of business-finance integration, which will ultimately affect the effect of financial transformation. The main reason for this problem is the lack of business and financial departments of the enterprise docking mechanism, the lack of the necessary to carry out the work of management accounting, that is, the lack of the necessary business and financial integration of institutional arrangements.
(C) the lack of professional management accounting talent
At present, China's low-level financial accounting talent has been a clear surplus, but the composite management talent is in short supply. In the current era of artificial intelligence, in order to be competent in professional management accounting, not only need to thick professional knowledge, but also proficient in information technology, statistics, operations research and other related knowledge, and more need to be familiar with the enterprise's related business processes. The existing financial staff of the enterprise itself is not much and limited level, can be familiar with the business and skillful use of big data technology to carry out management accounting work of talent is very scarce, which is also an important factor in restricting the financial transformation.
(D) the level of information technology construction is insufficient
At present, some large-scale enterprises have a number of information systems, belonging to different lines of business and different departments, and the software vendors of the systems are different, respectively, to produce data and reports in various fields, independent of each other, there is no effective connection between the different systems, resulting in a large number of information islands, resulting in inefficient data transmission, extraction difficulties, poor accuracy, correlation between the data, and the data is not sufficient to ensure the accuracy of the data, but also to ensure the accuracy of the data. Poor accuracy and weak correlation between data. The financial transformation requires a unified caliber of information data, and the need for these data to be able to implement the **** enjoy, so that the financial sector can access and process these data in real time to analyze the value of the information to obtain relevant information for the management of the decision to provide a basis for decision-making, so that the lack of information technology construction reduces the management of accounting information on the role of support for business decision-making, and even the negative impact on decision-making.
Four, to promote the financial transformation of the enterprise countermeasures recommendations
(a) the importance of business leaders, to strengthen the awareness of financial transformation
The transformation of enterprise finance is not only the financial sector of their own things, but also need to get the strong support of the enterprise at all levels of the various departments to work with, which is more of a comprehensive management of the enterprise behavior of the remodeling, will be This is a reshaping of the comprehensive management behavior of the enterprise, which will affect all aspects of the enterprise's organization, processes, systems, and business. Leadership attention is an important guarantee for the smooth landing of financial transformation, so enterprises should be financial transformation as a "top" design, must be "a hand" attaches great importance to, must be established at the macro level of the enterprise financial transformation awareness. Led by the senior leadership of the enterprise, coordination, top to bottom to promote the transformation work, reduce the implementation of resistance, maximize the formation of synergy, to create a good atmosphere for financial transformation. At the same time, the financial staff should consciously improve the awareness of the transition, recognize the importance and inevitability of financial transition, improve the enthusiasm to participate in the transition work, improve their overall quality, in the era of change wave initiative role conversion and upgrading.
(2) Optimize incentives to promote the integration of business and finance
In order to reduce the conflict and resistance between the various departments in the implementation of the financial transformation process, the enterprise should be established to ensure that the management of the accounting work carried out by the relevant systems, such as the business sector and the financial sector docking mechanism, to promote communication and collaboration between the business sector and the financial sector to promote the integration of business and finance. In addition, enterprises should also optimize and improve the existing incentive assessment mechanism, especially considering the actual situation of some cross-departmental staff, personal performance and collaborative performance linked to the interests of all parties concerned are respected and safeguarded, and encourage employees to take the initiative to take the initiative. Fully mobilize all parties to participate in the enthusiasm of the staff, information *** enjoyment, mutual cooperation, and enhance the level and inter-departmental cooperation, in-depth promotion of the integration of industry and finance, to create good incentives for financial transformation. In the setting of specific assessment indicators, for some departments to assess the conflict between the indicators, should enhance departmental coordination, improve the assessment system, so that the interests of the department and the overall interests of the enterprise to unify; not only to consider the department's employees to complete their work, but also to take into account the assistance and support provided to other departments. So that employees can actually enjoy the results of the value of the enterprise value added to enhance the sense of value of the work of employees, to retain and attract talented people, and actively encourage employees to overcome the difficulties, improve efficiency, and accelerate the integration of business and finance and financial transformation.
(C) Strengthen learning and training, update the knowledge structure of financial personnel
In the transformation of financial accounting to management accounting and the integration of industry and finance change, the financial sector plays the role of the initiator, the financial staff must take the initiative to learn, take the initiative to change. In terms of knowledge structure, in addition to the original financial accounting expertise, finance staff also need to learn and understand the main areas are: management accounting knowledge, such as volume cost, break-even point, job costing and other analytical methods; business management, corporate strategy-related knowledge, broaden the horizons, and cultivate a big-picture thinking; understanding of the current situation and development trends of the industry, and familiarity with the business processes of the enterprise, a deep understanding of the nature of the business; big data analysis-related skills, such as database software, and the ability to analyze and analyze data. Data analysis related skills, such as database software ACCESS, statistical software SPSS, basic programming Python and so on. Learning forms can be flexible, such as targeted training, lectures, the introduction of high-end composite talents to the original financial team to pass on, even cross-departmental rotation within the department and exchanges and so on. Financial personnel should take the initiative to learn, to management, value creation, decision-making composite talent transformation, to achieve a magnificent career turn.
(D) sound information systems, to provide data support for financial transformation
Sound information systems help the smooth implementation of financial transformation, enhance the enterprise's value-creation capability and competitive advantage. Enterprises should carry out a comprehensive refinement of the existing information system and efficient integration, and to achieve the professional terminology of data and information and data caliber of the standard unity, standardize the management process, improve the management system, improve the accuracy and relevance of the data; the subsystems of the various departments should be seamless and effective transmission, truly breaking the information silos and barriers to information to ensure that all types of information **** to enjoy the interoperability of information to ensure that information Comprehensiveness, diversity, timeliness, comprehensively provide information quality, to carry out financial transformation work to consolidate the data foundation, so as to provide more effective information support for the enterprise's business decision-making. Under the background of the artificial intelligence era, financial accounting to management accounting transformation has been urgent, and the specific implementation of the transformation work needs to take scientific and effective strategies. In this paper, in-depth study of the current financial transformation of enterprises in the process of existing problems and the dilemmas faced on the basis of the proposed only to establish a sense of transformation, to promote the integration of industry and finance, update the knowledge structure of the financial staff, improve the information system in order to achieve the smooth promotion of transformation, expanding the field of work of the financial work, enhance the level of financial work, create financial work value. With the continuous development of China's economy, as well as information technology, artificial intelligence and other continuous application in the enterprise, the future of the enterprise in the process of financial transformation will encounter a variety of difficulties and problems, but the application of management accounting is inevitable, the future also requires us to continue to find problems, and timely exploration of countermeasures to promote the healthy and steady development of the enterprise advice and suggestions.
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