The first lecture of the UIBEBS 40th Anniversary High-end Forum - Financial statements, business strategy and competitiveness analysis
On October 11th 2022, the first lecture of the UIBEBS 40th Anniversary High-end Forum - Financial statements, business strategy and competitiveness analysis was held successfully in the international conference hall on the third floor of Chengxin Building. The lecture was delivered by Professor Xinmin Zhang, former vice president of UIBE and former dean of Business School. Professor Deqiu Chen, dean of the School, presided over the lecture. Professor Tiedong Wang, party secretary of the School attended and addressed the meeting.
At the beginning of the lecture, Professor Zhang introduced the core competence training of economic and management students, emphasizing the transformation of talent cultivating from specialization to systematization in the new era, highlighting the integration and systematization of knowledge learning. In the future, the development of accounting and finance will be highly integrated with business, organization, strategy and other contents, and business innovation and development will also put forward higher demands for finance and accounting. Financial statement analysis is the key to connect finance and business. The essence of accounting is information. In the digital era, the concept of information is gradually expanding while digital technology promotes information disclosure more timely, processing procedure more intelligent, helps to master the method of financial statement analysis more quickly and comprehensively and understand a lot of information about enterprise strategy and competitiveness.
In the lecture, Professor Zhang, by combining the actual cases of listed companies such as Gree Electric Appliances and Midea Group, deeply interpreted the corporate strategic information in the financial statements and compared it with the written expression of the corporate strategy. He analyzed the strategic development of the enterprise through the financial data, so as to reflect whether the product diversification, regional diversification and other strategies have been effectively implemented. In addition, Professor Zhang also interprets the expansion mode adopted by the enterprise in the process of strategic development through the comparison between the consolidated statement and the parent company statement. After that, he used the financial statement data of a large number of listed companies such as Fosun Pharmaceutical, Hengrui Pharmaceutical and Unigroup Group to comprehensively interpret the competitiveness of enterprises, divide assets into operational assets and non-operational assets, and construct the core profit generated by the business activities of enterprises to reflect the effectiveness of assets by combining the profit structure in the income statement. He breaks through the traditional asset turnover rate and interpret the asset utilization efficiency by the turnover rate of operating assets. Through the analysis of the relationship between research and development investment and gross profit rate, he explains whether research and development investment is helpful to enhance the competitiveness of enterprises.
At the end, Professor Zhang had communication with the students, signed and gave books for the students who asked questions. He offered constructive suggestions on academic research and career development. He also pointed out that the advent of the digital age has brought challenges to the development of business administration majors, which does not mean that the future cultivating training direction of business administration talents is "Engineers". Mastering effective methodology is the key to shaping individual competitiveness in the future.