Challenges facing financial supervision in schools
The challenges and alternatives of financial operations in colleges and universities in the period of big data and Internet
Abstract- With the expansion of Internet information technology, public financial administration reform deepening, accounting concentration Universities facing the administration accounting change, the fiscal sector as a key sector universities, info centers will become a huge school and take part in school management, decision-making, analysis and forecasting. We analyzed the expansion of university supervision accounting brings chances and challenges, and places forward some countermeasures. The arrival of the era of big data, data important asset cause quick Internet Insurance sector can be involved. This paper describes the advancement of the insurance status of the Internet, combined with opportunities and issues facing the period of big data Internet Insurance is proposed beneath the era of big info Internet Insurance Development Strategy in order to provide you with reference for the healthier and rapid creation of the web insurance. For the "Internet +", Big Data applications in other industries to produce value-added impact polymerization, and having less coal mine large data mining the potential value of the application of problems in the research of coal mine creation safety monitoring enterprise warning, large-scale mining and materials handling equipment safety regular remote control of the complete life routine, coal mining enterprises at all degrees of production safety info sharing cloud services system, cross-dimensional aspects of supply and demand and selling price forecasting perspective system for big data request mode analysis, data mining by large technical team unified development model and set criteria in the interface protocol, security co-ordination and so do the pre-proposals. He remarked that "Internet +", the comprehensive application of big data can be an important means and methods to improve mine protection and production, to attain lower costs, increase efficiency role.
Key words – big info; the web era; data mining; economic stocks management; decision analysis
Internet insurance identifies an insurance company or a third-get together insurance net new Net and e-commerce technology as an instrument to aid the insurance sales supervision activities. With the advent of the era of big data, info has become a crucial factor of production in each industry, people use mobile Net, cloud computing and additional information technology, info mining, processing and examination, making it a far more competitive asset. Insurance is a typical data-production industries, these systems continue to penetrate to the insurance industry, will enable Net Advanced Insurance from basic sales model to the web Insurance directions. https://www.ghostwriter-hilfe.com/. How exactly to seize the Internet Insurance in rapid alterations in information technology opportunities, meet challenges, it really is a significant topic of current study.
"Internet +" 2. 0 can be an innovative evolution of information technology to market the development of innovative social forms, new platforms, the future of the entire industry, cross-platform management procedures. "Internet +" Action Plan states that "Internet +" represents a fresh economic form, that’s to give full take up to optimize and integrate the role of the web in the allocation of development elements, the depth of the innovations of the Internet merged in all areas of financial and social promotion invention and productivity, "Internet +", the action system focus on promoting the production of big info integration, cloud computing as the representative of information technology. Large data by typical sensor means, video equipment, software, captures the info set.
Big Data possesses penetrated into every market and field has become an important factor of production, and mining firms for the utilization of large sums of data, cloud processing may be the second, after another big items disruptive technology revolution. I assume that the need to re-incorporate coal mining enterprises, mining past long-term accumulation of vast amounts of data, the use of integrated analysis tools from multi-dimensional space-time insight and know-how discovery in large data implied for legal reasons, to guide the production of coal mine safeness decision, the fine will increase to coal mine creation safety the new degree of management.
Development of the Internet makes big data accounting information processing better, faster, even more standardized accounting, real-time and focus. Info is an important basis for decision-making to help expand tap the web data becomes practical. Some college financial workers and researchers are trying to study the theory based on the "Internet +" a new model of financial management, monetary officers will be freed from the complex fundamental accounting business, in order that key positions economic officers transferred to the school management and decision-making so in decision making, administration accounting functions.
Internet Insurance a lot more than ten years, with the low cost of the web, by many, wide insurance, high-impact attributes, has made amazing achievements, but also in the creation of some problems.
With the rapid advancement of e-commerce and computer system technology, the web Insurance from 2011 into the development of quickness and 2011 to 2013, the domestic insurance organization Internet corporations rose from 28 to 60, average annual growth of 46%; premium volume grew from 3. 2 billion yuan to 29. 1 billion yuan, a rise of three years to reach 810 percent total, with an average twelve-monthly growth rate of 202%; the number of insured customers elevated from 816 million to 5437 million, a rise of 566%. Hence the fast speed of development of the web of insurance and likewise, according to the report, the web insurance products in a simple, standardized, low-value products, primarily in neuro-scientific property insurance on motor vehicle insurance, family residence insurance and different insurance, some insurance companies also introduced credit insurance and liability insurance. In the field of life insurance coverage, accident insurance is the primary insurance. This is due to the insurance item itself professionalism, complexity and complex characteristics of the web are determined.
Internet insurance development, embodied by precise customer targeting, segmentation subject material of insurance and risk elements, powerful customization of insurance products and pricing. Although the insurance main insurance companies committed to the Internet innovation, but its degree of innovation still to be increased and first, the business model, the majority of the insurance firms will simply move to the line of products from online product sales, Internet and insurance achieve legitimate integration of very few. Furthermore, from the sale of the product, although the "full moon insurance" "haze insurance" Insurance bold new alternative, but its essence is merely common crash insurance and other conventional insurance, some despite having gambling components, departing from the essence of insurance. And similar to the net purchase return shipping and delivery insurance, micro-channel payment protection insurance and additional insurance and genuine participation poly emerging e-commerce wind. Risk insurance items provide protection for Internet and rare.
A. Challenges and Opportunities
In the Internet, big info and the depth of penetration of insurance history, January 15, 2014, China Insurance Information Technology Administration Co. , Ltd. as China’s insurance industry’s 1st big data company formally established, which is normally to follow the production of insurance in the era of big data will by road. Build big data platform, opportunities and issues for the production of the Internet insurance.
Big info brings cost-efficient development. In the era of big data, the usage of information technology to gather data linked to the insurance business operations, may establish a standardized, systematic Net insurance data system, on the main one hand, the insurance buyer orientation statistics and pricing of insurance items and other areas of the simpler, more traditional insurance, drastically reducing the time and cost of info collection, improve the efficiency of insurance. On the other hand, the insurance organization automation has improved consistently. Use relevant data to determine a network of intelligent Underwriting platform, promote the use of intelligent terminals and other mobile Internet devices, the web can boost the insurance business method automation and automation of PCT operator, so that each flow hazards are controlled concurrently, various aspects of the processing time was considerably shorter improved efficiency.
Big Info mining helps timely consumer needs, impressive products. The usage of advanced technology for historical data collection, collation, research and processing, can properly tap the demand for risk control, product innovation, expenditure, and improve decision-making capability can play a significant role. In the period of big info, by the client in the Internet browsing and transaction platform, departing traces of statistical info, we discovered that customer propensity to buy, tap the customer needs, and then use this data to design services. For instance, "Zhong An on line" positioning to service the web, the main liability insurance and promise insurance, it is on the Internet risk data statistics and effective usage of the Internet user needs mining, while the net purchase return shipment insurance, micro-channel payment secureness risks as well in big data era has brought proof of product innovation.
Big data helps improve the precision pricing and marketing capabilities. First, the Internet and big data will change the traditional insurance products pricing guidelines and on the main one side, from an actuarial viewpoint, the traditional products, predicated on the law of large numbers actuaries, regarding to a random theory, in the long term, a
large number of organization practice to extract the main data to create a mathematical version to calculate the prime rate, and further to make products prices. In the period of big data, we are able to acquire comprehensive data, complete info and integrated info, mining the partnership behind the info, greatly improve product precision pricing power. Alternatively, the period of big info, some products can perform dynamic prices, according to buyer requirements to develop products and provide services.
Big Info Acceleration Insurance Internet channels to "format" Conversion. Net insurance "format" identifies the production of insurance products, insurance consulting, insurance coverage design, revenue to post-service promises and other aspects are relying on the web to complete. Net as the natural insurance sales channels are suffering from more than ten years, under the big data era, the web will change the insurance of insurance simple Internet-based sales model to the true Internet insurance "format" expansion. Through the web data mining and analysis, the insurance genuinely serve the Internet, the development of Internet-based products, therefore the Internet to "format" Conversion.
B. Risk exposure
Potential new market entrants increase competition. In the era of big data, the data will show a "complete and accurate, open up and transparent sharing of information" feature, if the info and insurance technology, will probably be more brand-new entrants, competition, marketplace volatility increased. First, Internet companies have large sums of data after you have risk identification and control technology, we can setup an Internet insurance company through its tested platform and a wide audience. Second, already has a specific risk control ability of enterprises to large data Once you have a mature technology, mastered valid info, then build their very own risk management system is less expensive than buying a simple insurance products, such as for example UPS courier business can set up the Internet insurance firms to reduce the price tag on risk management.
Information security issues with the advent of the period of big info, we are confronted with data privacy and general public safety contradictions. Data sharing is general public and big data development of the times, but the data is disclosed together with the controversy from the legal, ethical, moral and various other factors, which restricts the creation of the Internet insurance. Big info disclosure is a double edged sword, on the one hand the data disclosed not only provides network operators rely on the insurance dangers of the Internet far more convenient and accurate data options, and promote the production of the Internet insurance will also create value throughout contemporary society; the other and the data disclosure might cause disclosure of user privacy, violation of human rights, this is a issue we develop Internet security cannot be ignored in the era of big data.
Second, insurance information system within the Internet and many of the machine beyond your company for selling repayment transactions and other organization data exchange exists, there happen to be episodes from Internet hackers, viruses, system rejects all possible risk services.
Computer technical capacity needs to be improved while at present, the data acquisition and processing ability at a low level. First, as a result of the limited technical capacity data, the reliability of the info collected, the lack of timeliness of security, it is complicated to be objective data analysis and data utilization value. Present innovative data, a large number of customer info is untrue, various other unstructured data availability is not high, the lack of effective info collection technology; the same time, the accumulated data to be tapped, advertising, customer data can be small, the info processing capability Bedroom for improvement. Second, the lack of data resources and insurance companies a whole lot of historical data in the system long-term idle, underutilized the insurance company’s personal strengths and data sharing and exchange of related sectors, lack of data sharing.
Industry regulatory system isn’t perfect. Currently, the web insurance supervision, insufficient complete system and China Insurance Regulatory Commission and other relevant departments of the web there are numerous loopholes in the guidance of insurance policies.
C. Development Strategy
To the healthy development of the web insurance for the current Big Data era has brought about the Internet insurance business model and can continue to arise in the foreseeable future cross-industry business internet insurance issues, identify and improve Access to the internet for insurance, in order that has a mature risk management knowledge, superb information technology, adequate solvency, enhance the supporting facilities and strong product development functions of enterprises to perform higher risks than traditional channels of Internet insurance. In addition, the Internet insurance sales personnel and customer support staffs must have professional understanding of insurance, insurance agents get hold of qualification certificates, and publicity to consumers in order to supervise the sales site.
Great use of advances in technology and the accumulation of data mining and to develop the scope of insurable hazards, make insurance products extra diverse, more abundant kind. Unstructured data examination of consumer tendencies and other areas of the Internet, knowledge of customer stickiness strong system for the Internet, such as micro-letters and other cultural platforms, the true Internet insurance companies on the web, the development of latest insurance products; in the areas, according to Net features and customer purchasing power, the development of products easily accepted, as one yuan universal insurance. Furthermore, the insurance customers wanting to seize the Internet features of convenience, high-quality services, to supply services to facilitate easy operation, especially following the purchase of portion of a single delivery, return visits, claims, loss prevention and other processes to increase the customer experience.
On the one hand, handle public relations and data secureness of personal information. On the basis of does not infringe on the reliability of personal information is normally disclosed to the social development of favorable info, and effective use of public data in various other industries, the creation of the web insurance open ideas. However, China Insurance Regulatory Commission and additional relevant departments to the web immediately insurance information security control practices, insurance information on Internet security issues to create clear from the system specification.
Information technology features for the production of the Internet insurance are crucial. First, to increase technological development capacity and for the insurance experts, complex features, the production of professional services, Internet insurance software, such as the development and customer care interactive voice platform, customer service or sales personnel can clarify to customers insurance coverage via voice, and record chats with tone of voice and reduce misleading product sales and content disputes. Second, improve data collection, processing capability. In the web field of insurance, data acquisition and processing are essential. First, we ought to improve data collection technology to ensure the validity and accuracy of the data from the source; secondly to improve the processing capability of the data within the integration of exterior data, especially external data; and finally to explore the worthiness of the data behind the increase of insurance effective analysis systems company a whole lot of historical data, and convert it into a business design, implemented.
D. Training of personnel
Big Data era will be the era of competition for skill, data analysts, data engineers and data scientists, will be the potential of the insurance company’s core resources. Production of Internet insurance, the insurance info should vigorously develop dual talent based big data era, develop their powers of observation, to ensure that they can with time to capture unstructured data in a particular social phenomenon behind and tapped to guarantee the timeliness of the info. In addition, to enhance the relevant human imagination, it is possible to use processing methods revitalize these data, the info structure and logic integrated into new business models, to create new business opportunities.
E. Assessment methods Single
Use translation of this article as a way of course examination, it really is difficult to stimulate learners’ interest in learning, harmful coping curriculum duties. I conducted a study discovered that students planning translation task 35% of the learners use the basic copy translation effects obtained translation tools, 45 percent of students somewhat modified and adjusted based on translation tools, only 20% of the students can take the initiative full article translation. Through courses simply a very small part of the student’s level of translation of foreign files has been improved, examination results difficult to seriously reflect the learners’ English and theoretical level, the course does not highlight the advanced mother nature and practical, it really is difficult to understand and practice.
With the advent of the era of big data, government performance evaluation requires not merely financial indicators, but also need even more funding and performance-related non-financial indicators. Whether it’s from the faculty for Financial performance analysis or self-assessment of performance for the school sector, we have to collect and aggregate data considerably more business. By aggregating data for every single business unit, collation, university financial participation in college management greatly increased participation in general management, decision making, examination, forecasting and other functions more important.
Management accounting is a significant area of the accounting work. Executive Operations accounting needs to have a sound monetary and institutional environment. American people more engaged in economic accounting control positions in decision-making. Even so, the current promotion of management accounting application is not widespread, management accounting, decision-making features is weak, especially in universities and different administrative institutions, the control is to consider a number of the more administrative factors and social factors. Since an extended period, China’s universites and colleges accounting practitioners and theorists that consider the traditional financial harmony legal compliance, interior control, external audit and other even more, and the study of the internal service management decisions isn’t enough, environmental supervision accounting the foundation is weak, lagging behind the development.
Colleges whether to use operations accounting, with the external environment, the school management and the monetary officer of understanding and interest of the relevant administration accounting since the concept of operations accounting managers at all levels are thinner, management accounting application isn’t mandatory, some universities on the functional orientation of the monetary sector lower, in the substantive function of the financial supervision function is not very high, and college or university monetary sector dislocation in the "big logistics" framework, resulting in oversight capabilities in decision-making is weak. So, not only challenging to play to the capabilities of administration accounting, and possibly affect the effectiveness of internal control implementation. Because of lack of understanding of management accounting, colleges and universities to consider internal expense accounting, budget performance supervision, strategic issues such as the budget is relatively little, to a specific extent, affected the advancement of university career.
New management accounting employees should be acquainted with the attributes of the industry products, with a strategic brain, wide thinking, keen insight, sound judgment, proficient at seizing prospects, from a strategic perspective of the overall development process to comprehend the condition as Chinese enterprises little by little enter the international marketplace, Chinese accounting market to accelerate the process of international development, enormous domestic management accounting skill gap. China presently accounting personnel, "the number is plenty of quality," especially serious lack of "sophisticated" high-end accounting staff with the college or university finance ranks, there are also uneven quality of employees, the condition of shortage of talent, capable of high-quality accounting administration of comprehensive ability of talent rarely.
The usage of large data, clean-up and confidentiality of info is crucial. Internal and external data, financial data and non-financial data, stored in a variety of formats, and includes a number of mistakes and duplicate information. Current financial info disclosed Universities have got a financial budget and final accounts, Excellencies funding, the consumption of research funding, government procurement, bidding, etc; non-financial data on each school blog have all types of education, teaching info. With these data, we can analyze the problem a whole lot of data behind it. So, faced with the arrival of the period of big info and confidential data that made public in the level and scope, can be a crucial issue.
A. Management Strategies
With demand supervision accounting idea of the in-depth and useful work, the personal sector participation in the management, functions and responsibilities of participation in decision-making will be strengthened. School management to fully understand the "Internet +" Period and accounting management mode, and the setting of thinking of great change data processing mode, and prepared to make adjustments regarding organizational structure, management functions, post setting accounting and accounting capabilities of positioning, to ensure that management accounting functions into full play, to ensure that the economic sector enterprises participate better in decision analysis, interior control. Universities accountants could be more extensively involved with school activities, the extra into the spending budget, planning, execution and evaluation to go and perform an increasing role in general management decisions. Financial departments should spend more focus on clean-up and confidentiality of info, and improve the level of Internet information security.
B. Establishing Responsibility center
Responsibility centre is organized around the overall management objectives, involve some management authority within the business and assume certain monetary responsibility. Target Responsibility Center is coordinated with the overall objectives of the organization, if each responsibility centre can be completed presented responsibility goals, the overall responsibility for the organization’s goals could be realized. In the heart of the implementation of the responsibility proper authorization is necessary, the higher ought to be given authorization to work subordinates; appropriate authorization to produce a performance of the work, the authorization cannot reasonably responsibility center isn’t conducive to mobilizing the enthusiasm of all staff. Universites and colleges can set in line with the type of business teaching a different responsibility centers, for the first of all three years of income and expenditure for statistical analysis, combined with school creation goals and the income and expenditure plans, income and expenditure targets place for each and every responsibility center business, and to develop a set of appropriate incentive mechanism, so that the balance of payments accounting and financial operations is considerably more refined, promote school advancement.
C. The intro of strategic thinking, execution of management accounting
As universites and colleges system reform, the launch of strategic operations accounting thinking in college financial management that’s necessary. The implementation of strategic control accounting, and more focus on the management and evaluation of performance, can help senior management in university
More layers of long-term decision-building and forward-looking. Well balanced Scorecard in the financial administration of the university, SWOT matrix evaluation, strategic analysis Boston matrix examination, from a strategic perspective to investigate the development of the institution, includes a positive effect. Run management accounting strategy predicated on the need to accelerate information technology, human, financial, material and info integration in a unified info platform to control accounting concepts and technological methods, based on a full range of comprehensive management information.
Strategic leave the spending budget can’t be achieved, the budget is a strategic instrument for landing. Western countries proved that overall performance budgeting is a way to increase efficiency, improve performance, optimize resource management price range, is among the many methods of supervision accounting applications and the whole process of budget performance supervision, including reporting, tracking the effectiveness of operational performance goals, with the performance analysis, and other aspects of the results of the application form. Will promote the concept of the performance management in place, into the performance management methods and techniques in the management of all aspects of the budget, you can encourage the reform of university operations system and mechanism, good sense of responsibility to improve the sector, it really is conducive to further enhance the university funds of scientific and meticulous control. Budget performance management simply became the "number 1" project to do. Budget performance management indicators issued in the case of the layers of the task requires school leaders at all levels perform their responsibilities, mutual coordination among departments.
D. Design of Functionality Evaluation System
In the performance control process, including the design and style of a multi-dimensional evaluation system of financial and non-financial is particularly important. Financial indicators are usually budget implementation price, earmarks financial effectiveness, asset-liability ratio, liquidity ratio, the ratio of staff expenses, public expenditure ratio, total asset progress, etc; non-financial performance analysis include before school, scholar management, staff management, analysis management, books, curriculum, services, equipment, and energy usage. School profiles of school functions, campuses, school residence cases; school student operations situation, scores, enrollment, attendance, dropout costs, graduation rates; faculty circumstances seniority, position, subject; there are analysis papers published data management capacity , task reporting and pass prices; book info have library books, e-books number of books; there are training course info gate count, training course credits, teaching period, curriculum solutions (including courseware, video tutorial, etc. ); and various other classrooms and laboratories have to use data use information, borrowing records, maintenance information, recording idle; equipment employ and maintenance of apparatus condition data have info, use and maintenance information, the log management habit; school energy consumption info, water, energy, gas and other strength consumption data.
In summary, the "Internet +" coming of age of the advancement of information technology, to market the control accounting in university application and promotion. University accountant will be more extensively involved with school activities, the extra into the price range, planning, execution and examination to go and perform an extremely important role in management decisions and how to deal with the accounting and financial accounting organic combination this is the focus of the federal government, universities, social, financial managers and staff of common concern.
1. Borochin, Paul A. "When will a merger create worth? Using option rates to elicit market beliefs. " Financial Management 43. 2 (2014): 445-466.
2. Jalbert, Terrance, Mercedes Jalbert, and Kimberly Furumo. "The relationship between CEO gender, financial performance and financial control. " Journal of Business and Economics Research 11. 1 (2013): 25-33.
3. Speaker, Paul J. "Financial operations of forensic science laboratories: Lessons from project FORESIGHT 2011-2012. " Forensic Science Policy & Management: A GLOBAL Journal 6. 1-2 (2015): 7-29.
4. Agundu, Prince Umor C. , and Ogbole Fri Ogbole. "Fiscal plan and strategic financial administration efficacy in Nigeria: Co-integral regression approach. " Analysis Journal of Finance and Accounting 5. 8 (2014): 78-85.
5. Ab Halim, Mohd Suberi Bin, Mohd Zukime Bin Mat Junoh, and Syahida Binti Kamil. "Financial performance and the management issues of Bumiputera building companies in the Malaysian building market. " Journal of Scientific Analysis & Reports 3. 9 (2014): 1190-1202.