How to cope with the challenges of the knowledge economy on financial accounting

Traditional financial accounting is a product of the industrial economy, the knowledge economy has many different characteristics compared with the industrial economy. At present, the knowledge economy in the context of new ideas, new things, new business on the traditional financial accounting theory and practice has produced a huge impact and challenge.

I. About the goal

There are two views on the goal of accounting: the view of managerial responsibility and the view of decision-making usefulness. They are both based on the separation of the two powers. Managerial responsibility now emphasizes the relevance of accounting information. In the era of knowledge economy, high technology is the high point of enterprise development, innovative enterprises have vitality, network and communication technology is widely used in all walks of life, the international capital flow is wider and the scale of capital market is further expanded. In this environment, the accounting information system will be decision-oriented, it is required to provide various types of decision-making needs of all kinds of accounting information, so as to make the decision to provide useful accounting information for the goal of a better reflection.

Two, accounting assumptions

Accounting assumptions with the changes in the knowledge-based economy environment by a full range of impact. Mainly manifested as:

(-) in the e-commerce environment, "online company", "virtual enterprises" rise, making the spatial scope of accounting is not only the traditional accounting subject swiftly set up under the real business, the accounting subject abruptly. The boundaries of the "enterprise" under the assumption of the main body of accounting become blurred.

(ii) the speed of scientific and technological innovation, the shortening of the economic life of products, the risk of asset depreciation increases, the need to use a variety of accounting basis, which is the use of a single non-liquidating price of the going concern assumption constitutes an impact.

(c) In the era of knowledge economy, the application of computer network technology and database technology in the field of accounting, and its high-speed. Accuracy provides strong support for real-time reporting of accounting. Therefore, the author believes that unequally spaced accounting installments, i.e., an accounting information system that combines real-time reporting with installment reporting, will replace the traditional periodic reporting system.

(d) In the era of knowledge-based economy, non-monetary information such as the strategic intent of an organization, the quality of its employees, and the market share of its products are more useful for decision-making in some cases. Therefore, accounting is an information system that emphasizes both monetary and non-monetary measures.

Third, accounting principles

Historical costing principles and accruals are the core of traditional financial accounting, this paper only discusses the impact and influence of the knowledge economy on these two accounting principles.

(a) Accrual system mainly stipulates the basis of accounting recognition in terms of time. But it does not link the business performance of enterprises with cash flow. And in the era of knowledge economy, the cash flow of the enterprise affects the survival and development of the enterprise to a great extent, through the analysis of which the operating performance of the enterprise can be evaluated, the financial resources and financial risks of the enterprise can be measured, and the operating and financial prospects of the enterprise can be predicted.

(2) into the knowledge economy with knowledge as the main resource, the limitations of the historical cost is mainly manifested in: 1, the progress of science and technology, the improvement of production efficiency, the increase of intangible loss of assets, large, with the historical cost as the basis for the valuation of the balance sheet reveals the financial position of the enterprise will be a serious distortion, which in turn affects the quality of information on the results of the enterprise's operations. 2, the knowledge economy is an intellect-supportive economy The knowledge economy is an intelligence-supported economy, but many knowledge-related soft assets, such as human resources, which have no physical form but can bring future excessive benefits to the enterprise, are not revealed in the accounting statements and PhiDe. Therefore, the historical cost principle and other valuation principles should exist in the accounting model of the knowledge economy at the same time.

Four, accounting reporting system

With the knowledge economy environment developed database technology. Network technology, telecommunication technology and other support, accounting will give full play to its information system functions, providing more information, more advanced means of reporting.

(-) Under the conditions of the knowledge economy, accounting recognition and measurement show diversification, the center of gravity of accounting to knowledge resources and other intangible assets to transfer, and therefore the framework of its accounting report, the elements will undergo major changes. The information provided will include both monetary and non-monetary information; both historical and forward-looking information; and, at the same time, off-balance sheet disclosures will be more detailed and adequate.

(ii) the reporting time and transmission methods have significant changes. Knowledge economy era, the transmission of accounting reports in three ways: 1, "enterprise ?ú accounting information users", that is, the enterprise will send accounting reports in the form of e-mail to the known, contractual or legal requirements must be reported to the information users. 2, "enterprise ← accounting information users ", information users or potential information users regularly or irregularly visit the enterprise's website through the Internet to obtain relevant accounting information. 3. "Enterprise ← Accounting Center ← Information Users", i.e., the enterprise transmits business information to the accounting center, and information users visit the accounting center to The user of the information visits the accounting center to obtain the required information. In line with the mode of information transmission, the reporting time of accounting reports will be a combination of regular and real-time reports. Through real-time and regular reports, information users will be able to select the information they need to reorganize and analyze the information, and use the accounting information with more relevance and clarity.

V. Accounting tools, internal control and external audit system

Automation of accounting tools leads to a shift in the focus of the work of accountants, the business process and the accounting process will be reorganized and integrated. Based on the manual accounting system of internal control system and external audit system system can not play its due role, in the face of computer

Computer viruses, cybercrime, destruction of hardware resources, etc., the security of accounting information, authenticity, integrity, consistency, maintainability, scalability, under the conditions of the knowledge economy will have a completely new connotation. How to design the internal control and external audit system in the knowledge economy environment, prevent accounting errors and frauds, prevent accounting risks, and realize the effective control and supervision of accounting information is an urgent need to solve the problem.

Sixth, accounting organization, accounting staff

Knowledge economy era, e-commerce, online companies and other new economic phenomena, the emergence of business processes and accounting procedures, accounting organization to be re-designed.1 the size of the accounting department will be reduced, accounting positions will be adjusted. But its functional role will be more fully realized in the information set situation.

As a result of a large number of accounting work done automatically by the computer, the knowledge economy under the conditions of the accounting staff's work will shift to the financial management and analysis of the enterprise, really involved in the enterprise's forecasting, decision-making activities. The work of accounting personnel is no longer a simple collection and organization of accounting information, but to make accounting information value-added and create higher efficiency. Knowledge economy to discuss the quality of accounting staff put forward higher requirements, accounting staff should be both IT and management knowledge, with a diversified knowledge structure and innovative thinking of highly intelligent composite talents.