Case Study On The Improvement Of T Company's Financial Reporting System

As a unique commercial language,accounting itself finally takes the financial report as the carrier providing information for the related parties.The reasonable and logical design of financial reporting system is closely related to the quality of the information provided by the financial report.The financial reporting system provides the management with the financial situation and cash flow information from different aspects and dimensions.Therefore,how to issue a scientific,accurate and efficient financial report has become the top-level design task that the financial management must consider.Organizational,content and the reporting process reformations comprise of the top level design.The reconfiguration of the financial reporting system determined a direction,emphasized two key points and completed the three support.One direction: to determine the strategic plan,the overall planning,the unified deployment,the unified design,the unified implementation and maintenance;the two platforms: the establishment of the consolidated financial reporting platform and the financial share service platform;the three support: the reorganization of the organization;the standardization of the content,the way and the procedure of the report.Based on the significance of the financial reporting system in the business management,the paper first expounds the background and significance of the research,and discusses the contents and methods of the research on the status of the research on the financial reporting system at home and abroad.Taking T Company as an example,the paper analyzes the problems of in working inefficiency,duplication organization,and difficult process control throughout the process of T Company's original financial reporting system.Then,according to the defects and requirements,the paper analyzes the goals and requirements of financial reporting system improvement.The paper gets the specific requirements of the financial reporting system including the optimization of the organization,the refinement of the content,the standardization of the process,and the demand for information security.On the basis of demand analysis,the detailed design of the financial reporting system of large group companies is discussed.After the improvement,the financial team of T Company really changed from "accounting" finance to "management" finance,which promoted much more quality financial reports,and provided more timely and accurate data for the management decision making,which promotes the management and operation of the company to a new level.