Research On Business-financial Integration Of Large Enterprise Groups

With the rapid development of information technology and the continuous improvement of the market,enterprises have strong needs for more efficient mode of financial management.Business-financial integration,a new trend,refers to the timely sharing of business flow,capital flow,information flow and other data resources between business department and financial department through information technology and means,and jointly carrying out such management activities as planning,decision-making,controlling and evaluation based on the enterprise value objectives,so as to ensure the creation of enterprise value.The emergence of business-financial integration theory is based on the development of several theories,i.e.,the financial informatization,the financial sharing and the management accounting,which is being put into effect with the help of information technology.The implementation of the new management mode has important and positive impact on strategic planning,risk controlling,efficiency enhancement and value improvement,etc.of business,especially large enterprise groups.In this paper,the focus is put on the study of the mode design of business-financial integration in large enterprise groups,introducing the principle of management accounting transformation and the mechanism of business-financial integration and financial sharing,discussing the basic conditions and practical status of business-financial integration,and analyzing the problems in implementing business-financial integration.According to this mode,the financial system is divided into two parts—the financial department and the financial sharing center—both the individual responsibilities and requirements for them must be clearly stated.On the one hand,the financial department should transform some of its function to management activities with the co-operation of all the other departments,which makes finance and business integrated,and guarantees business-financial integration carried out in the enterprise management.On the other hand,the following functions such as accounting,data processing and information processing are all classified into the financial sharing center,allowing business personnel to participate in the financial accounting as well as accelerating the transmission and processing of information.At last,through the application of business-financial integration in large enterprise groups—the D Groups,the effects of business-financial integration have been analyzed,some improvement measures developed,aiming at providing suggestions for the implementation of business-financial integration in large enterprise groups.