Research On Accounting Business Process Reengineering Of Xiangtan Rural Commercial Bank

After China joined the World Trade Organization(WTO),domestic commercial banks have been facing increasing competition from foreign banks and have been looking for reform and innovations in management and business operation models to improve the quality of financial services and products.Reengineering of accounting processes is an effective way to improve the services and to increase operation efficiency and core competitiveness,and has been increasingly the focus of the domestic commercial banks.It has become an important measure for the banks to stay competitive in the fierce competition within the industry.This work studied and analyzed the Reengineering of bank accounting processes and its expected results,using the Xiangtan Rural Commercial Bank(XRCB)as a model,based on the advanced theories of accounting in domestic and international commercial banks and the successful experience of the past process Reengineerings,After analyzing the internal and external environment and the current status of the accounting processes,it is concluded that the current accounting processes require too many business credentials;the procedures are too complicated;the process time is too long;the risk is too high;and the operation is too costly.This work explains the necessity of the Reengineering of the accounting processes and the principles behind the Reengineering for the specific situations in the XRCB.It is suggested that the current processes be reformed and the separation of front-and back-counter services and the centralization of the back-counter accounting processes be established.The possible issues and corresponding solutions during the Reengineering are discussed and the expected effects and results are analyzed.This work is intended to provide guidelines for the XRCB to solve existing problems in the accounting processes by proposing a Reengineering plan that is based on the analysis of the current business processes of the XRCB.The Reengineering plan can also be a good reference for other rural commercial banks in the nation.