CSG Chief Accountant Li Wenzhong Honored As "CGMA Annual Award 2016 - Financial Pioneer"

Shanghai - Mr. Li Wenzhong, Chief Accountant of China Southern Power Grid (CSG), has been honored as the “CGMA Annual Award 2016 – Financial Pioneer”.

The announcement was made at the Chartered Global Management Accountant Annual Awards and CFO Forum 2016 held here in early December. More than 400 financial leaders and academic experts from throughout China as well as other countries and regions were gathered for this event.

Under the leadership of Mr. Li, CSG actively responded to national requirements and vigorously promoted management accounting practices. Having experienced three stages of development, that is "laying the foundation and promoting integration", "intensification and integration", and "informatization and lean management", China Southern Power Grid has made measurable progress in financial management and the application of management accounting.

The CGMA Annual Awards has been heralded as the “Academy Awards of Finance". Jointly issued by two of the world's most influential accounting organizations; the UK-based Chartered Institute of Management Accountants (CIMA) and American Institute of Certified Public Accountants (AICPA), it is the highest award for global management accountants.

The CGMA Annual Awards convey to the world the importance of finance for organizational governance and value creation, establishing the firm benchmark for solid professional management accounting practice and exceptional financial talents, and provides a platform for exchanges between financial talents and CFO groups … and between the business and investment communities.

During the Awards Ceremony and CFO Forum, CSG delivered a keynote address entitled “New Development of Management Accounting Against the Background of Reform” and shared with participants its development process and experience in financial management and management accounting since its inception.

Management accounting, as an important branch of accounting, organically integrates finance and business activities by utilizing relevant information and plays a critical role in planning, decision-making, control and evaluation.

China’s Ministry of Finance attaches significant importance to management accounting system construction and has issued the Guidance on Comprehensively Promoting the Construction of Management Accounting System and Basic Guidelines on Management Accounting, with the goal of fully implementing management accounting in the country’s enterprises and administrative institutions.

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