2014 Annual Conference of Accounting Society of China, which was sponsored by the Accounting Society of China, was grandly hosted by the Beijing National Accounting Institute between 26th July and 27th July 2014. Deputy Minister of Finance, Chairman of China Accounting Association, Professor Guangyao Zhu, Deputy Director of Accounting Division of the Ministry of Finance, secretary-general of Accounting Society of China, Guangzhong Liu, Deputy Secretary-general of Accounting Society of China, Shouhua Zhou, President of Accounting Education Branch of Accounting Society of China, Professor Liu Xing, former president Professor Dai Deming, next president Professor Wang Zhuquan and president of Beijing National Accounting Institute, Yibin Gao and other leaders, experts and scholars from home and abroad, in total more than 200 people attended the annual conference.
Professor Yuanlue Fu, deputy director of the Center for Accounting Studies of Xiamen University was invited to attend the conference and delivered a theme speech entitled "Development Power of Management Accounting Theory: Management Control Mechanism Innovation". Based on mechanism design theory and Williamson hierarchy inherent advantage theory, Professor Yuanlue Fu put forward three elements of management control mechanisms: goal setting, internal reporting and accountability incentive, and demonstrated the central role of management control mechanisms in management accounting. In addition, Professor Yuanlue Fu summarized the past research focused on innovation of management control, thereby constructing a Chinese management control innovation model and its three new concepts, namely, the concept of strategic management and control, stimulation new ideas and full participation. Finally, he proposed the innovative direction and research priorities of management control for the future.
