The Role Of Management Accounting From The Perspective Of Corporate Governance

Paul, chief accountant of the China Securities Regulatory Commission and member of the International Accounting Standards Committee, met with IMA CEO. In his speech, he said: "there is great potential for growth in China's capital market. The development of capital market is inseparable from transparent and highly regulated financial information, which is for stakeholders to make decisions. As an important means of internal management, management accounting plays a vital role in improving the quality of financial information of the entire company. " It can be seen that management accounting plays an important role in the development of a country's capital market as small as the rise and fall of an enterprise.

Corporate governance is a kind of system arrangement that stipulates the rules, rules and procedures that should be followed by all stakeholders, such as shareholders, board of directors, managers, employees and other stakeholders, under the modern enterprise system. It is a system of management and control of the company. There are two representative corporate governance theories at present. The first is the principal-agent theory. In 1932, BerleandMeans put forward the idea of "separation of ownership from control". Since then, corporate governance has been defined as "agent" under the separation of ownership from control. In the 70-80 century of twentieth Century, corporate governance research focused on American companies characterized by decentralized ownership structure. Therefore, the theory of corporate governance before 80s was mainly represented by the principal-agent theory. The goal of corporate governance is to protect the interests of shareholders and ensure that shareholders' investment can be rewarded. The two is stakeholder theory. Since 1990s, the study of corporate governance has gradually extended to countries represented by Japan and Germany. The ownership structure of these companies is more concentrated. The main problem of corporate governance is no longer a purely agency problem between owners and managers. The theory holds that corporate governance is concerned with the relationship between stakeholders, including shareholders, creditors, employees, consumers, suppliers and their communities, and the institutional arrangement to regulate their relations. Therefore, while pursuing the maximization of shareholders' interests, companies should pay attention to and consider the interests of stakeholders not to be damaged.

　　 management accounting As a branch of accounting, there is no unified conclusion on the definition of management accounting. Both foreign and domestic accounting circles have their own views on the definition of management accounting. In 1952, at the International Conference of accountants held in London, the accounting profession formally put forward the term "management accounting (ManagementAccounting)". The Management Accounting Committee of the American Accounting Association is defined as: "management accounting is the use of party management technology and concepts to process and analyze enterprise historical or forecast economic information, so as to help managers to formulate business objectives, plan plans and make a series of decisions to achieve the business objectives of enterprises." The definition of management accounting by the association of cost and Management Accountants in the United Kingdom is: "management accounting is the part of accounting work that provides the information needed by the management. Administration The authorities are able to establish guidelines and policies, plan and control activities for enterprises, protect property safety, reflect financial conditions to outsiders, reflect financial conditions to employees, and make decisions on alternatives for actions. For this reason, we need to compile. Long term plan Determine short-term business plans, record, correct deviations, acquire and control various funds.

Chinese accounting scholar Wang Jiayou (1987) holds that "management accounting is a branch of western accounting to analyze, control, and plan the future by analyzing the information needed by the western enterprise to collect, process and clarify the reasonable plan and effective control of the economic process in order to enhance the internal management and operation and maximize profits, and flexibly use various ways to collect, process and clarify the information needed by the administration." Yu Xuying (1999) holds that "management accounting is the integration of modern management and accounting, providing management information for the leaders and managers of enterprises. It is a subsystem of the enterprise management information system and an integral part of the decision support system." As another branch of accounting, information disclosure plays an indispensable role in corporate governance. However, it is not enough to give full play to the proper role of accounting information in corporate governance. However, due to the limited information contained in financial reports, the lack of scope, quantity and quality of information disclosure makes shareholders and other stakeholders unable to get sufficient information from current financial reports. Once management accounting information is needed, the existence of management accounting branches will be meaningful and will play an increasingly important role in improving corporate governance and efficient operation of companies.