Research On The Application Of MN Group's Financial Shared Service Mode

The construction of a modern economic system is an urgent requirement to cross the juncture and a strategic goal for China's development.Confronting with the strategic objective of “optimizing the economic structure” proposed by the 19 th National Congress of the Communist Party of China,it also drives the pace of comprehensive deepening reforms in the accounting field.We should gradually transform the traditional financial management model into a more efficient financial sharing model.By reengineering and standardizing financial operations that are highly repetitive and easy to standardize in branches and subsidiaries,a dedicated financial service department is established to efficiently handle business,integrate high-speed corporate resources,and strengthen internal control.Management,reduce financial management costs and risks.As early as the end of 2013,the Ministry of Finance promulgated the "Accounting Information Standards for Enterprises" explicitly requires that many enterprises of molecular companies should use information technology in accounting work,and establish a financial sharing service center.With technological advantages,a financial sharing service center will be set up to speed up the expansion of accounting functions from heavy accounting to heavy management decision-making and promote the effective development of management accounting.The financial sharing service center relies on the development of network information technology and data processing technology,and has achieved remarkable results in the problems of large-scale group companies and multinational companies with bloated structures,redundant personnel organization,high management costs,and lags in information exchange.According to ACCA and Deloitte Management Consulting "China Shared Services Research Report 2017",it is pointed out that54% of the 398 enterprises surveyed have established the Shared Services Center.The Financial Shared Service Center is a combination of both the advantages of decentralized finance and centralized finance,making rational use of its flexibility and efficiency in “ organizations and processes ”,integrating decentralized resources,and improving the efficiency of the management model.Based on the relevant concepts and theories of financial sharing services,this article uses MN as an example to analyze the industry background and internal needs of MN's financial sharing services,and further understands the basic situation and operation mode of MN's financial sharing service center,and points out that there are some problems in the operation of MN company's Financial Sharing service,such as no effective management of accounts receivable and funds,high turnover rate of personnel.Based on the analysis of the group's overall financial situation and the main financial indicators related to assets,this paper makes an analysis of the effect of the operation and management of MN Group's Financial Sharing services,and puts forward effective countermeasures for its shortcomings.