Financial Management: Giving Entrepreneurs A Pair Of Eyes

With the large-scale entry of foreign enterprises and how to make the enterprises bigger and better, the industry believes that only by using advanced management techniques and information means to arm enterprises and build a powerful enterprise management system centered on financial management is the magic weapon of Chinese enterprises.

There are many ways to change this state. One of the ways is that enterprises should have management talents who are familiar with international rules and familiar with financial knowledge. Recently, the financial fraud of "Enron" and "world communication company" continuously occurred in the United States, which not only dealt a heavy blow to the confidence of the US economy and investors, but also warned the decision-makers of Chinese enterprises in the global economic integration: to let more professional managers have a pair of discerning "discerning eyes" to enable enterprises to take precautionary measures and minimize risks.

Recently, the DFM--- certificate of financial management, launched by Beijing advanced financial management college, is a vocational qualification education project which is combined with the current economic development in the world. It is the "eye" of entrepreneurs.

At present, many enterprises in China are facing many problems. However, it is relatively common that business decisions are only based on empirical judgment, lack of necessary theoretical guidance and quantitative analysis, and financial accounting information resources have not been fully utilized.

Throughout the international market, 80% of the top 500 enterprises in the world have established a management system centered on financial management. More than 90% of the enterprises have established financial and enterprise management systems, and their management efficiency has increased by more than 87%.

And the situation in domestic enterprises is far from that optimistic.

Although nearly 30% of Chinese enterprises have set up their own financial management and enterprise management system, they are still at a low level in general. The main goal of establishing a system is limited to traditional static accounting, which lacks corresponding technical support for every business detail in dynamic operation of enterprises, and can not reflect the financial revenue and expenditure of each business node.

----ACCA, one of the most prestigious international accountancy organizations in the world today, has launched the latest syllabus and Certificate Course for modern enterprises, namely, the certificate of financial management (DFM).

Compared with the previous Chinese accounting qualification certificate (CDAF) course, the contents of performance evaluation and risk management have been added, reflecting the new management ideas and methods that should be adopted in modern enterprises.

This certificate specifically for business managers in terms of financial and accounting qualifications is assessed by the authority of the UK as the equivalent of 1 / 3 MBA.

Many international companies regard this qualification as a reputable qualification, and think that the certificate holder has mastered the accounting knowledge and skills required in the field of management.

As we all know, after China's accession to the WTO, a large number of managers with international vision, international practices and modern advanced management methods are needed.

According to Ms. ACCA, director of affairs in Greater China, "there are many training programs in accounting, but the quality is uneven, and they are not completely consistent with market demand.

ACCA's financial management certificate project is specially tailored for senior and middle managers.

"Participation in the course of financial management certificate" helps managers to acquire the necessary knowledge and skills in finance, enable them to understand the accounting language and understand the necessary financial information, so as to participate in financial discussions and financial decisions calmly, and further enhance their strategic decision-making ability.

In Europe, many countries have financial management qualification requirements for their managers.

They think that a person who can not understand the financial statements and can not carry out enterprise analysis can not make correct business decisions for the enterprise, so he is not qualified to be the manager of the enterprise.

In recent years, this concept has been gradually recognized by domestic enterprises.

Large and medium-sized enterprises in China have begun arranging management personnel to learn from financial management and enterprise analysis.

Due to the rigorous organization of ACCA, its credit rating is highly praised by many multinational companies and professional institutions.

It has won high praise from the United Nations and many international organizations with high standard training requirements and high level of examination arrangements.

All trainees holding ACCA certificates are valued by many international companies.

Xing Aiwen, chairman of Beijing's advanced financial management school, who is the exclusive authorized unit of the Chinese financial management certificate project in ACCA, said: "since 1996, ten training courses have been held, and more than 6000 people have participated in the training. It is proud that among the students who have obtained the qualification certificate of Chinese accounting, nearly 50% of them are in charge of Finance in the middle and senior management level.

"DFM" or "its predecessor" CDAF, because the curriculum is specially designed for training financial managers, there are hundreds of cases in the textbooks designed for this course. The analysis of these cases is a theoretical practice process, which is very beneficial to improve the practical work ability of students.

Today's managers are more and more responsible for the profits of investors, and are responsible for the profits of enterprises. Therefore, it is increasingly necessary to get the financial cognitive ability of qualified accountants.

ACCA's Chinese financial management certificate provides a wide range of subjects with high quality and high starting point. It not only enables managers to understand the necessary financial information, but also helps to make broader strategic decisions.

Under the condition of market economy, market information changes rapidly, so that the interests of any market entity are uncertain, and there may be economic losses.

At the same time, enterprises in the market economy should be self financing. Therefore, we must increase sales and reduce costs, so as to defeat competitors in the market competition.

A survey of information construction by local enterprises in Shanghai also shows that financial management remains the most concerned issue for business managers.

Under the condition of market economy, the business environment of enterprises is complex and changeable, and the risk is bigger and bigger. In order to ensure maximum profits, we must establish the core position of financial management in enterprise management, give play to the role of financial forecast, decision, plan, control and examination, which is also determined by the nature and characteristics of financial management.

If an entrepreneur possesses advanced knowledge of financial management in the West and is closely integrated with the practice of Chinese enterprises, he will probably become a master of management in Chinese enterprises.