Influence of “Internet ” on Financial Accounting and Its Reform Analysis

王少涵，李艳萍

China ushered in the Internet age. The Internet is being integrated with all fields of economy and society with unprecedented speed, depth and breadth. At the same time, the Internet is also challenging the theory and practice of traditional financial work. Financial accounting will be fully integrated into the Internet era.

Influence of “Internet ” on Financial Accounting

“Internet ” features

In general terms, “Internet ” is the “Internet all industries”, that is, in the development process, enterprises make use of Internet platforms to centralize resources to improve their competitive advantages.

First, universality. Internet can be integrated with various industries, making the society become a wide range of interconnected networks, achieving the sharing of information.

Second, innovation. The core of Internet is innovation, which changes the production and management modes of traditional industries through the integration of the Internet with the traditional industries, to promote the rapid development of industrial economy.

Third, subjective initiative. Internet strengthens peoplersquo;s subjective initiative, making enterprises not only emphasize the improvement of production efficiency, but also actively achieve the economic, social and technological development.

Fourth, openness. The most basic feature of the Internet is its openness, which is the basic for sharing information and effectively preventing the emergence of information silos.

Changes of accounting brought by “Internet ”

First, the continuous development of accounting informatization makes the financial sharing service center model more and more mature. By establishing a financial sharing center, the efficiency of financial work has been significantly improved, and corporate headquarters can grasp the business dynamics of each branch in time in order to timely adjust the business strategy and promote the better development of the corporate.

Second, the constant development of accounting informatization makes the financial management of enterprise more and more automatically completed by the system, and the accountants should pay more attention to the management problems within the enterprise, grasp the accounting work from a macro perspective, and give full play to their functions of perspective, and give full play to their functions of prediction, planning, decision-making, control, analysis and supervision.

Third, the development of the Internet makes the training of accountants more diversified. The previous classroom learning can be replaced by the network remote education. In this way, the accountants can have more flexible class time, and the traditional written test is gradually replaced by online exam, making it convenient for both the examinees and graders.

The novel accounting methods such as network proxy accounting, online consulting services, could auditing, electronic invoicing and electronic contract brought by “Internet ” bring great convenience to enterprises and accounting practitioners,

Impacts of “Internet ” on Accounting

Impact on basic accounting assumptions

Accounting entity assumption, going-concern assumption，and monetary unit assumption are all based on the traditional social and economic environment, whose rationality has been proved through practice. The rapid development of the Internet nowadays has had a huge impact on the traditional economy and society. Therefore, all the four basic assumptions are faced with the challenge. For example, under “Internet ”, because of network virtuality, many network companies have no fixed place, but only a few people and several computers, which makes it difficult to determine the accounting entity. Furthermore, the network companies may break up immediately after completing the corresponding goal, and the time is unpredictable, so the going-concern assumption is ruined.

Impacts on accounting talents

The training of accounting talents in China focuses on the traditional accounting theory and the training of accounting practice, but not related to the combination with the Internet, so the accounting computerization has not been widely popularized. On the other hand, the cultivation of computer network talents in China only focuses on the theoretical knowledge of computer science and rarely combines with other industries. Thus, the accountants do not fully grasp the computer knowledge. The advent of the “Internet ” era is undoubtedly a big challenge to accountants. Second, due to the rapid development of the Internet, many of the basic work of accounting can be completed more easily and efficiently through the Internet. Therefore, if an accountant wants to gain a foothold in the era of “Internet Accounting”, burying in the repeated work day after day no longer works, he or she should consider his or her own transformation to learn computer, thus becoming an inter-disciplinary talent.

Impact of “Internet Accounting” on accounting information security

The development of the Internet has provided a resource sharing platform for the accounting profession. While improving the efficiency of informatization, it also brings certain risks to the accounting profession. When accounting information is transmitted through the Internet as a medium, it may be interfered with, hacked, intercepted or tampered with by hackers, which may result in wrong decisions made by users of accounting information. In the event of a virus intrusion, financial information can be lost, and even the entire corporate network can be completely broken down.

Imperfect laws for 'Internet Accounting'

As 'Internet Accounting' has just come into being and is in the developing stage in China, there are no complete laws or regulations t

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