Research On The Improvement Of Provincial-level Accounting Centralized Accounting Of S Post Company

As globalization continues to accelerate and market competition intensifies,enterprises face increasing pressure from domestic and international regulators.However,financial and accounting management modules and methods in some giant Chinese state-owned enterprises,especially group companies,are not standardized and do not function systematically.Consequently,they would not meet basic demands therefore hindering the further development of enterprises.Meanwhile,Information technology continues to develop at exponential speeds.With the vast application of big data,cloud computing in finance and accounting fields,IT offers a new foundation of finance and accounting innovation for such giant enterprises.In order to meet these rising demands in development,many state-owned companies have adopted centralized accounting,process re-engineering,or similar methods to enhance efficiency and raise overall standards of management.As a provincial branch of China Post Group in S province,S company has17 branches in 17 cities,134 county branches and 2879 offices.In 2014,based upon a former accounting system,S company designed and developed a "centralized accounting" method and put that into use.In 2015,with the organization reform and ERP software applied,S company adopted an ERP accounting management module and continued using the "centralized accounting" method.Over the past 6 years and despite difficulties due to such a short period of execution,the new management module and method did solve a large amount of problems,such as mismanagement,over staffing,information isolation etc.However,there were also negative effects to this newly implemented centralized accounting method.Hidden defects rose to the surface after deep research was conducted on this method.Many issues,lack of surveillance,lack of cooperation between departments,system instability to name just a few,affected work efficiency and overall quality.Moreover,it failed to satisfy the demand of business operations and reform of the China Postal Group.Thus,restructuring the centralized accounting method was far from choice,but instead,necessity.Guided by research on centralized accounting,this paper takes S company as the object of the case study.Considering the practice and theory in this field,this paper analyzes the essence,key points and module of centralized accounting using related literature and with comprehensive investigation.In doing so,it also reveals the issues in practice by examining complications with the theory of Organization Structure,AgencyTheory and Internal Controls.To summarize,this paper outlines both perspectives and expectations of centralized accounting.This paper brings up the following innovation on literature.Based on current accounting practices in the workplace,this paper aims to provide practical solutions,which may to an extent,help to improve practices of application at S company.By analyzing the specific case in S company and doing research,this paper enriches the study of post centralized accounting.However,limited to the case of S company,this paper does not conduct a comprehensive and all-rounded study on China Postal Group.ltd and the whole postal industry.Therefore,the content,analysis and conclusion might not be so applicable to an extend.