Vol. 5 No. 1 (2023)

Open Access

Article

Article ID: 3041

A Contrastive Research on the Digital Transformation of Sino-British Traditional Enterprises

by Peiyun Chai

Global Finance Review, Vol.5, No.1, 2023; 131 Views, 23 PDF Downloads

In the context of the rapid development of information technology, many domestic traditional enterprises have embarked on the road of transformation, upgrading and development to enhance their comprehensive competitiveness on the basis of excellent local culture. There are many world-renowned brands and companies  in Britain , and on  the basis of  its cultural background, Britain  is regarded as the object of this contrastive research . How to realize the development goal of enterprise digital transformation with the help of traditional culture has become one of the problems that enterprises need to solve. This article analyzes the comparison of the digital transformation of traditional enterprises in China and Britain , in order to provide a reference for the steady development of traditional enterprises in the new era.

Open Access

Article

Article ID: 2652

Wharton Global Youth Program Competition Summary and Strategy

by Xingyi Yu, Hao Wu, Zhuoling Chen, Shengkai Yuan, Longhao Xu

Global Finance Review, Vol.5, No.1, 2023; 86 Views, 18 PDF Downloads

This is a report paper submitted for the 2021-2022 Global Youth Program of the Wharton School, and we present our investment strategy here. Among more than 2,000 participating teams, we were around the 150th. Therefore, our strategy and report may be helpful for some analysis and further research.    As the competition ends, o ur return is  -  3.10 percent with a cash balance of $33,881.28. As such, the p ortfolio  v alue  is $96,899.39.  T he result is largely unexpected, as  our revenue stably rose and was higher than the average one of the  SPDR S&P 500 trust  in the first two-thirds of the competition. Around Nov 10, we suffered a loss of 4 percent and another significant reduction in the last week because of the outbreak of the omicron variant. Therefore, we do not question our strategy. The following content will explain tactics and details in each industry and demonstrate our understanding of investment tools. 

Open Access

Article

Article ID: 1642

Research on the Deficiencies and Strategies of Accounting in Administrative Unit under "Government Accounting System"

by Wenjie Liu

Global Finance Review, Vol.5, No.1, 2023; 121 Views, 15 PDF Downloads

According to the country’s regulations on the Ministry of Finance, state agencies and institutions should all participate in the new government accounting system from January 2019. The new government accounting system has made some changes during the reform.It mainly reflected in elements of accounting, methods for accounting , basis of measurement, statement’s preparation. Based on the essence of accounting of administrative units,This article has discovered the problems arising from the accounting work of administrative institutions in my country today from the perspective of the status of each administrative unit, such as  fiscal rebate quota, errors of non-tax calculation, and errors of reserve amount, etc. In order to better improve the current situation of my country's administrative units,it puts forward suggestions for improvement for such problems.

Open Access

Article

Article ID: 1643

Research on optimizing the structure of financial expenditure

by Fei Wu

Global Finance Review, Vol.5, No.1, 2023; 111 Views, 23 PDF Downloads

Fiscal expenditure is a kind of financial support planned by our government for the rapid development of social economy. It can also be said that fiscal expenditure is a special fiscal policy. At present, our government optimizes and perfects the structure of fiscal expenditure in order to improve the competitiveness of the existing market to the greatest extent, so that the market economy can always maintain its vitality, and finally realize the sustainable development strategy of our country 's overall economy. Currently in many plans for the effect of financial resource allocation, the core content of the plan is the optimization of the fiscal expenditure structure. The article makes a research and analysis on this. First, it studies the current situation of our country 's financial expenditure structure. Afterwards, it makes a further analysis on economic construction, administration, social culture and education, public health, and social security in the "offside" and "absence" phenomenon of our country's financial expenditure structure, and puts forward the corresponding optimization plan.

Open Access

Article

Article ID: 1644

Research on the Establishment of Management Accounting System of Medical Institutions in the Information Age

by Rongrong Yuan

Global Finance Review, Vol.5, No.1, 2023; 113 Views, 13 PDF Downloads

In November 2014, the Ministry of Finance issued the " the guidance on comprehensively promoting the construction of management accounting system", which optimized the management of the accounting system. This measure can optimize the financial system,  develop the national governance system vigorously, improve the level of national governance, and realize the modernization of governance,etc. With the continuous development of the information age, the pressure on the operation and management of medical institutions has increased. This article focuses on the analysis of the current situation of the management accounting of medical institutions.By deeply exploring the various reasons that hinder the development of the management accounting system of medical institutions in the information age, it provides some reliable suggestions for the improvement of the management accounting system of medical institutions including increasing the importance of accounting personnel, establishing a complete management accounting system mechanism, cultivating high-quality professionals, and vigorously building an accounting information system and so on. It is hoped that this suggestion will provide more help for the smooth development of management accounting in medical institutions.

Open Access

Article

Article ID: 1645

Discussion on the Full Implementation of New Revenue Standard in Enterprises

by Xiaochen Yue

Global Finance Review, Vol.5, No.1, 2023; 211 Views, 11 PDF Downloads

In July 2017, the Ministry of Finance issued the "Accounting Standards for Business Enterprises No.14 - Revenue" (hereinafter referred to as the "new revenue standard") .It has revised the regulations on the recognition and measurement of enterprise accounting income.It complements and modifies the old revenue standard,improves the unreasonable places, improves the accounting income information quality in our country. It can see the real situation of the enterprise operation activity more clearly. The state has referred to the international accounting standards when revising the system of accounting standards for business enterprises.The change of income standards will inevitably have an impact on many enterprises.This paper introduces the specific content of the change of the new revenue standard, and then it puts forward some measures to implement the new revenue standard. It hopes to bring effective help to various enterprises.

Open Access

Article

Article ID: 1646

The Status Quo and Problem Analysis of the application of intelligent enterprise management accounting in the Big Data Era

by Yibo Zhong

Global Finance Review, Vol.5, No.1, 2023; 147 Views, 20 PDF Downloads

Management accounting plays a pivotal role in the operation of an enterprise. By means of management accounting, an enterprise could make reasonable accounting of enterprise costs, optimize resource allocation within enterprises and reduce the waste of resources. Therefore, management accounting is the major resource of the information that helps with decision-making of business managers. In recent years, the big data technology and intelligent technology has been continuously improved, so the traditional management accounting model is facing great challenges. Therefore, the application of intelligent management accounting into the in-depth analysis of big data within all enterprise will cast positive influence on long-term development of the enterprise. This article aims to analyze the current status of the application of intelligent management accounting into enterprise in the present big data environment. In accordance with the application of intelligent management accounting in enterprise budget management, cost management, performance management, and others, the problems with the current application of intelligent management accounting will be summarized. Then, some effective solutions to solve those problems will be provided, expecting to provide crucial enlightenment on the  application of intelligent management accounting to promote the development of Chinese enterprises in the era of big data.

Open Access

Article

Article ID: 1647

Research on the application of management accounting in enterprises and the realization of high-quality economic development

by Shuting Zi

Global Finance Review, Vol.5, No.1, 2023; 117 Views, 19 PDF Downloads

Management accounting plays an increasingly important role in the management and development of an enterprises because it helps with improving the production efficiency, production economic effects and economic benefits of the enterprise, reducing the cost of the enterprise, and providing useful information for the business decision-making, promoting the sustainable development of enterprises. So the application of management accounting in the business management in China is an inevitable trend of enterprise development. The analysis in this research is based on the previous studies about management accounting, and theories related to management accounting and high-quality economic development, mainly. Besides, the problems with the application process of management accounting in Chinese enterprises are summarized, including the problems with the application environment, management philosophy, and management accounting talents. At last, some feasible solutions to the problems are provided in accordance with the working experiences of the author, including learning from foreign advanced management accounting theory systems to promote the construction of my country's enterprise management accounting theory system, enhancing the propaganda of management accounting among enterprise managers, especially state-owned enterprises, constructing management accounting information system to create an advantageous environment to apply management accounting, promoting the breadth, depth and flexibility of management accounting applications, build a team of high-quality corporate management accounting talents and others. Those suggestions are expected to help Chinese enterprises make the best of management accounting to increase competitiveness of enterprises in the market and and economic benefits of enterprises. Hence, this thesis could provide useful suggestions about how to make the best of management accounting to ensure managers’ accurate decision-making, and the sustainable development of the enterprise in the future.