The 2021 Shanghai Municipal Finance Bureau’s Demonstration and Exchange Event on the Systematic Development of Management Accounting in Shanghai was held at STEP.
2021-10-08
On September 17, the Accounting Division of the Shanghai Municipal Finance Bureau held a demonstration and exchange event on the systematic development of management accounting in Shanghai at STEP. The event invited 16 representatives from district finance bureaus as well as representatives from various enterprises, with a total attendance of over 50 people.
Deputy Director Zhu Gang, Accounting Division, Municipal Finance Bureau First, he delivered an opening motivational speech at the event, stating, “For many enterprises, management accounting is still a rather vague and exploratory concept. The Ministry of Finance has been conducting intensive research and will soon release guidelines to further strengthen the application of management accounting.” He emphasized, The application of management accounting should be driven by problems and oriented toward results, and it even more urgently requires systematic development. It’s not about using individual tools in isolation; rather, it involves starting from specific points and expanding outward to conduct top-level strategic design, engaging in deep, integrated application, and adopting a holistic approach.
Li Guofan, CFO of STEP (left), and Zhu Gang, Deputy Director of the Accounting Division of the Shanghai Municipal Bureau of Finance (right)
Subsequently Li Guofan, CFO of STEP He delivered a speech, quoting the remarks of the Minister of Industry and Information Technology, and emphasized that digital transformation is no longer a matter of choice—it has become an essential requirement for survival and development. Digitalization has now become the front line in the new global competitive landscape. CFOs of Chinese enterprises should act in step with the times, using financial digital transformation as the driving force to propel their companies’ overall digital transformation. Management accounting is now in full swing, with overall planning focused on system development and a blended approach—combining both soft and hard capabilities—in terms of capacity building.
Tan Chaohui, CFO of Shanghai Xinglinna STEP Motor Co., Ltd., shared STEP practices and explorations in management accounting. The presentation introduced a framework that starts with “1+2+3+N”: - **1 Goal**: To promote enterprise value creation; - **2 Pillars**: Strategy and organizational structure, with particular emphasis on building the “three financial pillars”—the COE Center, the Shared Services Center, and the Financial Business Partner (BP); - **3 Foundations**: Digital transformation, information systems, and talent development; - **N Tools**: ROE-driven intrinsic motivation, BSC-based performance evaluation, BLM strategic design, IPD from 0 to 1, LTC from 1 to N, and OKR for focused goal setting. This sharing aligns closely with the systematic construction of management accounting advocated by the Municipal Finance Bureau and provides valuable reference for other participants.
Zhu Tian, Deputy General Manager of the Planning and Finance Department at Shanghai Chengtou (Group) Co., Ltd., shared insights into financial thinking and algorithms in the age of intelligence. He emphasized that management accounting first and foremost requires a shift in mindset. The financial thinking of the future will be people-centered, characterized by human-machine collaboration, human-led decision-making, and value creation. Financial professionals must adopt a holistic and systems-thinking approach, designing from the top down and taking into account overall calculations. At the same time, they need to cultivate closed-loop thinking and bottom-line thinking, ensuring that business expansion remains aligned with actual conditions and stays within the bounds of compliance. He also drew on numerous real-world examples of cognitive algorithms—such as AlphaGo in Go, autonomous driving systems, and big data-driven price discrimination—to underscore the growing importance of human-machine collaboration in the future.
Finally, Zhang Zhenkui, Director of the Marketing Department at Shanghai STEP Robot Co., Ltd., led everyone on a site visit to STEP’s smart robot factory, which is... One of Shanghai’s first 20 smart factories, it is the world’s second factory to manufacture robots using robots. The Shanghai Municipal Commission of Economy and Information Technology has specially promoted the first batch of 20 smart factories in Shanghai—including STEP Robot’s Smart Factory, which has set a benchmark for intelligent manufacturing in complex discrete manufacturing industries and marks a milestone in Chinese robotics companies’ practice and exploration of intelligent manufacturing. STEP is also... The first Chinese brand to join the global club of industrial robot shipments exceeding 20,000 units. 。
Through this event, everyone’s understanding of the concept of management accounting was enhanced, and valuable experience-sharing sessions were learned, laying a solid foundation for further promoting the systematic application of the management accounting system.
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