Big Data, Big Change: In the Financial Management
Affiliation(s)
Received 7 July 2014; revised 13 August 2014; accepted 26 August 2014. Beijing Wuzi University, Beijing, China.
Received 7 July 2014; revised 13 August 2014; accepted 26 August 2014. Beijing Wuzi University, Beijing, China.
ABSTRACT
In recent years, "Big Data" has attracted increasing attention. It has already proved its importance and value in several areas, such as aerospace research, biomedicine, and so on. In "Big Data" era, financial work which is dominated by transaction, business record, business accounting and predictions may spring to life. This paper makes an analysis about what change that "Big Data" brings to Accounting Data Processing, Comprehensive Budget Management, and Management Accounting through affecting the idea, function, mode, and method of financial management. Then the paper states the challenges that "Big Data" brings to enterprise aiming to illustrate that only through fostering strengths and circumventing weaknesses can an enterprise remain invincible in "Big Data" era.
In recent years, "Big Data" has attracted increasing attention. It has already proved its importance and value in several areas, such as aerospace research, biomedicine, and so on. In "Big Data" era, financial work which is dominated by transaction, business record, business accounting and predictions may spring to life. This paper makes an analysis about what change that "Big Data" brings to Accounting Data Processing, Comprehensive Budget Management, and Management Accounting through affecting the idea, function, mode, and method of financial management. Then the paper states the challenges that "Big Data" brings to enterprise aiming to illustrate that only through fostering strengths and circumventing weaknesses can an enterprise remain invincible in "Big Data" era.
Cite this paper
Ke, M. and Shi, Y. (2014) Big Data, Big Change: In the Financial Management. Open Journal of Accounting, 3, 77-82. doi: 10.4236/ojacct.2014.34009.
Ke, M. and Shi, Y. (2014) Big Data, Big Change: In the Financial Management. Open Journal of Accounting, 3, 77-82. doi: 10.4236/ojacct.2014.34009.
References
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[1] Beyer, M.A. and Laney, D. (2012) The Importance of “Big Data”: A Definition. Gartner, G00235055. [2] http://www.ibm.com/big-data/us/en/index.html [3] http://www.nsf.gov/funding/pgm_summ.jsp?pims_id=504767 [4] Gerard, G., Martine, H. and Alex, P. (2014) Big Data and Management. Academy of management Journal, 57, 321-326. http://dx.doi.org/10.5465/amj.2014.4002 [5] Ohlhorst, F.J. (2013) Big Data Analytics: Turning Big Data into Big Money. 1st Edition, John Wiley & Sons, Inc., Indianapolis. [6] http://www.zdnet.com.cn/wiki-Big_Data. [7] Xu, J.Y. and Xu, L. (2013) Structuring Enterprise of Analyzing Accounting Big Data. Friends of Accounting, 8, 97- 100. [8] Lukka, K. (1988) Budgetary Biasing on Organizations: Theoretical Framework and Empirical Evidence. Accounting, Organizations and Society, 13, 281-301.http://dx.doi.org/10.1016/0361-3682(88)90005-0 [9] Feng, Y.F. (2013) IBM: Big Data, Big Finance. Corporate Finance, 7, 62-64. [10] Dominic, Z. (2010) Keqiangker-Ching: How China’s Next Prime Minister Keeps Tabs on Its Economy. http://www.economist.com/node/17681868 [11] Xu, Z.P. (2012) The Big Data Revolution. 1st Edition, Guangxi Normal University Press, Guangxi. [12] Zhang, Y.C. (2014) Big Data is a Sword with Two Blades. China Chief Financial Officer, 1, 61.