Commercial Perspective: The Application of Cloud Accounting in Biotechnology Enterprises Financial Decision Making

Liu Fuling
School of Accounting, Zhengzhou Vocational College of Finance and Taxation, Zhengzhou, Henan, 450000, China

DOI:https://doi.org/10.5912/jcb2505

Abstract:

Financial decision-making is a critical component of biotechnology enterprises operating in a dynamic and innovative industry. In traditional financial decision-making modes, enterprise managers may struggle to process massive and complex financial data, leading to inefficiencies and potential inaccuracies that can impact the fair valuation of enterprises. This paper examines the application of cloud accounting in financial decision-making for biotechnology enterprises in the era of big data. The research shows that, with the progression of years, the growth rate of financial performance also increases. For instance, since 2019, a more pronounced growth trend has been observed: Company A experienced a 17.2% increase in 2019 compared to 2018, Company B saw a 14.9% rise, and Company C recorded a 3.2% improvement. This indicates that with advancements in technology and data management practices, the economic performance of biotechnology enterprises is expected to improve further. By leveraging cloud accounting platforms, financial data can be extracted, transformed, and analyzed using big data technologies. These methods enable the identification of associations within the data and uncover the enormous value hidden behind it. For biotechnology enterprises, this provides critical support for making scientific and rational financial decisions, enabling them to allocate resources effectively, manage risks, and navigate the complexities of the biotechnology sector.