The Research Of Accounting In Time Of Knowledge Economy And Best Practice In Finance

With the development of computer science and information technology, major changes have taken place in the accounting environment. As a result, one of humanity's oldest industries"Accounting" is now experiencing anew revolution. The application of ERP (Enterprise Resources Planning)in the accounting field is a striking trend.Taking SAP project implementation in Beier as an example, this thesis approaches the transformation of accounting operations from the traditional model to a new one. By using computers, internet and other new technologies, ERP has realized the replacement of traditional tools(e.g. paper,pen and abacus). Also, ERP has driven financial business processes from original function-driven flow to the incident-based one. Such replacement is neither a simple change, nor a simple imitation of manual accounting, but the creation of brand new idea in accounting and finance field.With the revolution of traditional accounting the roles of financial professionals are also changing. Many multinational companies stared to consider how to respond to these changes and to remain invincibility in the intense competition. To optimize the enterprise management, financial management shall bear the brunt. Finance departments must start with enterprises reform, and act as the coordinator and promoter. The transformation of Beier finance function shows us necessity of establishing a high-performance finance team, and reveals the importance to company success. Today, the finance professionals are no longer "Bean Counters". They have been involved in senior management, and become the "architects" of company future and the creators of company value. The enterprises, which own an efficient financial team with successful application of information technology, can keep competitive at the knowledge management age.