经济全球化的背景下，市场竞争愈加激烈，要求证券行业从传统外延粗放模式转变为持续健康发展的经营模式，需要提高财务精细化管理水平，突破原有会计管理主体限制，搭建全成本管理体系，使之在内部市场环境下运行并进行绩效管理。如何在证券业“严监管”和“促发展”的治理背景下实现真正意义上的全成本核算，部门间、团队间的利益如何协调，后台运行体系该如何保障这一目的实现，建立全成本管理体系势在必行。

本研究采取文献研究法和案例研究法。通过在知网上查阅管理会计、金融行业成本管理等文献，借助中国证券业协会网站交流平台，借鉴国内知名银行、优秀券商全成本管理推广的方式和经验，以企业的历史数据、档案材料为基础，设计出XSD证券公司投行业务线全成本管理体系和配套实施推进方案。在导论、概念界定和相关理论做铺垫的基础上，以XSD证券公司投行业务线为切入点，介绍其成本管理现状及存在问题，如预算指标松弛、核算方式粗放、业绩评价片面，提出实施全成本管理的必要性。接着构建了“大投行”下的全成本管理体系，包括建立全成本预算体系、深化全成本核算体系、健全全成本绩效评价体系，并针对全成本管理体系提供相应地配套运行体系建设，致力于形成一种符合管理实践、可操作、可推广的全成本管理方法论，向全公司、同行业推广借鉴。

全成本管理突破传统意义上单纯的成本核算，充分发挥预算管理的事前预测和计划功能，将风险控制、资金成本等容易被忽略但又极其重要的因素囊括进来统筹考虑，借力数字化转型的配套体系建设，依托企业文化建设、人才战略引进等软实力，通过对经营报表的深度挖掘、分析经营数据，为管理层的经营决策提供重要参考，有利于对各业务的经营情况做出客观准确的评价，提升绩效评价的精准度。通过全成本管理，明确各业务条线的核心盈利能力，进行相应地资产配置，摆脱靠天吃饭的局面，使公司的盈利更具有可预测性。财务管理的精细化，是近年来证券行业高频率强监管的必然要求，有助于发现并及时释放风险，提升经营效率水平，激活证券行业发展活力，提升证券公司在国际资本市场上的竞争力。

Under the background of economic globalization, the market competition is becoming more and more intense, requiring the securities industry change from the traditional extensive model to the operation model of sustainable and healthy development. It is imperative to establish the full cost management system ,ensure full cost accounting in the true sense and coordinate the interests between departments and teams under the governance background of "strict supervision" and "promoting development" of the securities industry.

This study adopts literature research method and case study method. By reading relevant books, publications and papers, and studying relevant theories of management accounting at home and abroad, the full-cost management system and implementation strategy for the investment banking business line of  XSD securities companies have been designed. On the basis of the introduction, concept definition and related theories, taking the investment banking business line of securities company as the starting point, this paper introduces the current situation and existing problems of cost management in the investment banking business line of XSD securities company, such as slack budget index, extensive accounting methods and one-sided performance evaluation, and puts forward the necessity of implementing full cost management. Next, the full cost management system under the "big investment bank" was established, including establishing the cost budget system, deepen the full cost accounting system and improve the full cost performance evaluation system. Finally, the construction of a corresponding supporting operation system for the full cost management system has been established. It is committed to forming a full-cost management methodology that is a line with management practice, operable and popular, which can be used for reference by the whole company and the same industry.

Full cost management breaks through the simple cost accounting in the traditional sense, gives full play to the pre-forecasting and planning functions of budget management, and includes risk control, capital cost, digital transformation, enterprise culture, talent introduction strategy and other factors which easily overlooked but extremely important into consideration. Through in-depth mining of operating reports and analysis of operating data, to clarify the core profitability of each business line, and then to allocate assets accordingly through the company's own capital allocation strategy, providing an important reference for management's operating decisions, which is conducive to making an objective and accurate evaluation of the operation of each business, enhance the accuracy of performance evaluation, improve the company's earnings more predictable. The refinement of financial management, adapting to the increasingly normal high-frequency dynamic supervision, is conducive to the reasonable release of some risk appetite, promoting the business innovation of securities companies, improving the operational efficiency of securities companies, activating the development vitality of the securities industry, and promoting the competitiveness of securities companies in the international capital market.