Problems and countermeasures of financial accounting transforming to management accounting

Abstract

With the rapid development of the economy and the change of various information technology products, China’s economy has entered a stage of transformation. In such an era of opportunities and challenges, traditional financial accounting can no longer meet the needs of modern enterprise survival and development, the fierce market competition and the needs of the company’s own development are all driving the main functions of corporate financial reporting from recording the past to predicting the future. In order to further improve the efficiency of enterprise operations, promote the transformation of financial accounting to management accounting is imperative. Under the premise of expounding the theoretical basis of financial accounting and management accounting, this paper analyzes the problems in the transition and proposes the countermeasures at the same time. Promoting the transformation of financial accounting to management accounting, and give full play to the role of management accounting in improving value-added in business management.