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Research On The Construction And Practice Of Financial Sharing Service Center Of Group

Posted on:2017-05-12Degree:MasterType:Thesis
Country:ChinaCandidate:X C WangFull Text:PDF
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It is known that Financial Shared Service Centre(FSSC) is an innovative managing sector, which promotes the development of the enterprise on scale and globalization at the turning point of changing traditional accounting for most of the large groups. While it aims at simplifying accounting process and standardizing on the business transactions for larger companies. As the wave of globalization, MN group, as one of the leading business on the dairy industry of China, has speed up its strategy of going abroad and implemented cooperation on strategy with foreign advanced dairy enterprises in terms of the assistance from the local government. MN group efforts on sustainable growth, integrated resources,modernized production grid as well as innovative management system, which is of great importance for its high efficiency of operational running, lower costs, and high core value as well as integrated controlling capabilities.This article has discussed the theory on FSSC through the research on the principle of FSSC. It concluded that FSSC will be the necessity for larger groups to reach the target of lower costs, management, risk shield, and added value in terms of the globalization and upgrading of information technology. It takes MN group as an example, which was the first successfully completed online of FSSC on the dairy industry, even on the fast food industry in China. The article has analyzed the state of the management of the group,illustrated the difficulties of identifying business critical points, information platform, and assignment of workforce in terms of transition from traditional accounting to FSSC function. The thesis sums up the problems and pending issues on executing FSSC and finally it puts forward the suggestions and solutions for the performance exercised earlier in terms of evaluation of strength and weakness of FSSC. This dissertation has contributed on the reference for dairy farms and fast food companies whom are either effort on the construction of FSSC or having the wiliness of the creation of it in terms of running efficiency, experience on the tough implementation.It is recognized that the establishment of FSSC will release finance staff out of heavier and mass daily hard workloads and they will attribute themselves on analyzing and decision making. It is stressed that the familiarity of feasibility and necessity on FSSC in the company. Furthermore, it is of great importance to get the full support from the top management of the company. The implementation of FSSC should be mobilized by the top management team on the basis of platform of integrated and completed ERP system as well as shared networks within the group. It is known that the reconstruction of the group’s business and financial accounting will result in the orientation of high efficient FSSC in terms of standardized procedure with the skilled staff.
Keywords/Search Tags:Group companies, Shared Services, Financial Shared Services Center, Informatization, Process
PDF Full Text Request
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