Explore the Significance, Problems and Suggestions for Data Assets Entry into the Statement in Financial Institutions

DOI: https://doi.org/10.62517/jel.202414310

Author(s)

Xuqi Zhu, Yanan Wu

Affiliation(s)

Guangzhou College of Commerce, Guangzhou, Guangdong, China *Corresponding Author.

Abstract

As an emerging asset type in the process of economic and social digital transformation, data assets are increasingly becoming an important strategic resource to promote the construction of digital China and accelerate the development of digital economy. For enterprises, data resources will become strategic resources in the future, and data assets will become core assets. As an important provider of financial services, financial institutions have a large amount of data involving customers, transactions, risks and other aspects, which has become the core resources of financial institutions. This paper systematically explains the significance of the era of data assets from the macro, middle and micro levels, and points out that the Interim Provisions on Accounting Treatment of Enterprise Data Resources issued by the Ministry of Finance has opened a new chapter of data assets entering the statement in China and provided a new idea for the value discovery of financial institutions' data assets. This paper sorts out the main problems faced by financial institutions in the fields of data valuation and pricing, asset recognition conditions, statement manipulation and so on, and puts forward some suggestions for orderly implementation of data asset entry.

Keywords

Financial Institution; Data Asset; Data Evaluation; Data Asset Entry

References

[1] Cheng X K. Discussion on the entry of data assets into the statement: An analysis based on the conceptual framework of international financial reporting.] Science Decision, 2023, (11):67-75. [2] Han X L, Wang S X. Attributes, Identification and Valuation Methods of Data Asset. Journal of Statistics and Information, 2023, 8: 3-13 [3] Zhao X, Li X Q. Data assets "in the table" on the basis of the considerations and methods. Journal of accounting monthly, 2024, (3): 55 to 60 [4] Li J L. Analysis on the impact of data asset entry on mining enterprise data resource value. Enterprise Reform and Management, 2024, (01):148-150 [5] Wang P, Yang S M. Realization Path of bank data asset value. China Finance, 2023, (24):73-74 [6] Xu J. Exploring the way of "entry into the table" of commercial bank data resources. China Banking, 2023, (11):29-33 [7] Lin J, Zhang S, Zhou X C, Wei X N(2023). Reflections on the development of bond market enabled by data market transactions. Bonds, issue 9:27-30 [8] Wang K J. From resources to Assets, Finance Tapping Potential Data Increasing Credit Value. China Business Journal, 2024-01-22(B05) [9] Zhao Z G. Strategic Significance, Problems and Suggestions of Data asset entry. Friends of Accounting, 2024, (03):2-6 [10] Liu Y L. International comparison, challenges and countermeasures of enterprise data resource entry. Guangdong Economy, 2023, (15):37-43. [11] Yin Y K, He Z C. Digital finance and the construction of national unified large market: An analysis based on the perspective of new Structural economics. Secretary, 2022(5):3-10.