Advisers

Dr. Alicia G. Banas

Discipline

Business And Education Industry

Abstract

This study examines the impact of the Chinese government’s accounting system reform on the financial management practices of selected public universities in Hunan Province. The reform introduced a transition from the old accounting framework to a new government accounting system designed to improve transparency, accountability, and efficiency. The research evaluates the reform’s influence on budget management, cost accounting, asset management, financial reporting, and the competencies required of financial personnel. It also proposes measures to strengthen the effective implementation of the new standards. A quantitative research design was employed. Survey questionnaires were administered to university accountants across selected public institutions in Hunan Province. Data were analyzed using descriptive statistics and inferential tests to determine relationships between the adoption of the new accounting system and various dimensions of financial management. Findings indicate a significant positive relationship between the integration of the old and new accounting systems and improvements in budget management, cost accounting, asset management, financial reporting, and accounting personnel performance. Respondents were primarily mid-career professionals with balanced demographic representation. No statistically significant differences were observed when responses were grouped according to age, gender, position, years of service, or educational level. The results suggest that the new government accounting standards have positively influenced financial management practices in public universities in Hunan Province. To sustain and enhance these improvements, the study recommends continuous professional training, stronger transition support mechanisms, investment in advanced accounting technologies, standardized reporting procedures, regular performance assessments, and improved interdepartmental coordination. These measures will support the long-term institutionalization of the reform and strengthen financial governance in higher education institutions.

Keywords

financial management, government accounting reform, financial reporting, public universities, hunan province