Financial Cost Management

Author: Wu Wangsheng / Cao Zhong / Cheng Li, Editors
Publisher:
Publishing Date: 2005-04-01
Features: The development and improvement of a market economy require a highly skilled team of economic intermediaries. As a crucial component of this team, the growth, expansion, and institutional development of the certified public accountant (CPA) profession play a significant supporting role in the advancement of China's market economy. China's national leaders have once said that the CPA profession is a cause that spans generations. The high expectations and evaluation of the CPA profession by national leaders from a strategic perspective are unprecedented. This serves as both a and encouragement to CPAs and is also a testament to their highest honor. Since the revival of the CPA profession in China, nearly two decades have passed, and CPA firms and the practicing CPA workforce have rapidly grown and strengthened. The rapid development of CPA practitioners is truly astonishing. With the swift growth of the Chinese economy, especially against the backdrop of the WTO, the pace of economic globalization has accelerated, and China's economy has increasingly integrated into the global economic tide. In this process, the development of the CPA workforce (in terms of both quantity and quality) has become increasingly important. However, in reality, the current CPA workforce in China, measured by either its quantity or the quality of its practitioners, falls short of meeting the urgent needs of China's rapidly developing economy in aligning with international standards. Fortunately, due to the nature of the CPA profession and its growing importance in China's national economy, tens of thousands of new entrants join the ranks of those preparing for the CPA exam each year, forming a vast pool of talent. Many outstanding university graduates are also eager to pursue a career in the CPA profession, further replenishing the field with skilled professionals. However, the requirements for CPA practice in China are stringent, and passing the CPA exam to obtain the CPA certification is the threshold for becoming a CPA. As a result, the competition for the exam is extremely fierce each year, with only a handful of candidates among hundreds of thousands achieving their goals. The reasons for this are multifaceted, and one significant factor is the failure to choose a study guide that is well-suited to individual exam preparation needs. Shanghai University of Finance and Economics Press has organized experienced faculty from the CPA exam preparation program at Shanghai University of Finance and Economics to keep pace with the evolving CPA exam trends. They annually revise and compile the companion study book 《——》. The authors of this series are mostly top-tier educators in the field of CPA training, possessing both deep theoretical knowledge and practical expertise in CPA operations. For years, they have remained committed to teaching at the frontline, training hundreds of thousands of students annually and making significant contributions to cultivating outstanding CPA talent. Therefore, it is only natural for them to author CPA study materials. The CPA National Unified Examination course "Financial and Cost Management" is a comprehensive subject, primarily consisting of two parts: "Financial Management" and "Cost Management." Among these, financial management involves multiple disciplines, including accounting, management, statistics, mathematics, finance, securities, and asset valuation. The "Financial and Cost Management" course is divided into fourteen chapters, with a stronger emphasis on financial management. Chapters to 10 focus on financial management, while chapters 11 to 14 cover cost management. When studying "Financial and Cost Management," the following points should be noted:
1. Combine understanding with memorization, emphasizing comprehension rather than rote learning.
2. Persistence, persistence, and more persistence.
3. Combine teacher guidance with practice.
4. Take exam questions and revised content seriously.
5. Pay attention to the premise conditions and assumptions of various theories and calculations.
6. Focus on learning the time value of money and risk value.
The exercises in each chapter of this book reflect the authors' understanding of financial and cost management. We hope readers not only complete the exercises but also appreciate the "flavor" of financial and cost management.