《The new accounting standards on the disclosure of accounting information1789.doc》由会员分享，可在线阅读，更多相关《The new accounting standards on the disclosure of accounting information1789.doc（7页珍藏版）》请在三一办公上搜索。
1、The new accounting standards on the disclosure of accounting information Abstract: In 2007, China began to implement the new corporate accounting standards, reflects the convergence with international accounting standards, breaking the previous accounting information disclosure norms, enterprises, e
2、specially as the implementation of new guidelines for listed companies, disclosure of information parties must make a corresponding adjustment and response. Analysis of new business accounting standards to the information disclosure impact of new accounting standards described in the information dis
3、closure deficiencies and suggestions for improvement strategies. Key words: new accounting standards; accounting information; Disclosure First, the new guidelines to the impact of accounting information disclosure February 15, 2006, the Ministry of Finance released a new enterprise accounting standa
4、rds, compared with the existing accounting standards, the new corporate accounting standards system consists of a basic criteria and 38 specific guidelines for the composition, and expanded financial reporting requirements for disclosure of accounting information on the number and scope, the new Acc
5、ounting Standards for Enterprises new and improved certain criteria, to a certain extent, expanded the amount of information the disclosure of accounting information, but the amount of information for non-financial disclosure is not enough, only the basic norms of corporate assets, liabilities, and
6、the nature of equity to do a simple description. In the accounting information, the new accounting standards emphasized the usefulness of accounting information in decision-making, in particular, to emphasize the reliability of accounting information. In addition, it fully learning from internationa
7、l financial reporting standards on the basis, taking into account the objective of Chinas economic and development characteristics of the environment. The new accounting standards system in the accounting measurement, corporate mergers, financial instruments, accounting, etc. to achieve a breakthrou
8、gh, the starting point is relatively high, with extensive coverage, content integrity, and established a relatively complete accounting elements of recognition, measurement and reporting standards to fill the accounting standards of Chinas the many gaps in the field. These changes would give the dis
9、closure of accounting information have a huge impact. Second, the new accounting standards on accounting information disclosure Factors (A) fluctuations in operating results, enhanced As the fair value in itself subject to market volatility, the impact of the extensive use of fair value measurement,
10、 is bound to affect the performance of corporate accounting business performance. Chinas market economy and international economic environment, the more mature market than China, as evidence of an active market, the market price after the transaction information system is also not perfect, it is dif
11、ficult grounds of fair value measurement of the forensic accounting information provides funding dependent on and indispensable evidence. And the amount of balance sheet items are point numbers, compiled after the table will be the fair value of almost all of the changes in the disclosure of account
12、ing information should make corresponding changes. (B) the difference between net income and cash flow increases Although the fair value shows the value of the assets, but access to the income statement of changes in fair value of assets is the unrealized income, making the difference between net in
13、come and cash flow become larger. And the long-term assets at fair value on the difference between profit and loss and cash flow longer, such as investment real estate available for sale financial assets. The exchange of non-monetary assets gains and losses and cash flow generated by the timing diff
14、erences may be more difficult to grasp. In fact, the fair value of assets can not be equated with the actual realization of assets, the amount of gain or loss resulting from changes in fair value can not be equated with the future cash proceeds, which makes the difference between net income and cash
15、 flow statements for the user to add a new degree of difficulty, which not only the need for more knowledge of the accounting profession, for a more thorough understanding of the new guidelines, but also requires enterprises to disclose more useful information. (C) the accounting information by the
16、accounting personnel of subjective judgments of The accounting emphasis on substance over form principle, but the economic operations inevitably require professional judgments, for example, the exchange of non-monetary assets gains and losses recognized the need for business to judge commercial natu
17、re. In addition to existence and uniqueness of the fair value of the market price, such as stock prices, often need to determine fair value, such as investment in real estate values, market price is not the only, even if the same type of property, the fair value of the consecutive nature of expendit
18、ures can be developed to meet the conditions of the capitalist system are not necessarily the same. In addition to judging, it also requires a lot of peoples estimates, for example, impairment of long-term assets needed to estimate the recoverable amount, in which future cash flows and access to cas
19、h flow the year with a strong factor in human estimation. (D) re-classification of income statement items In addition to changes in accounting standards, the effects of the income statement, income statement for the project re-classification of some financial indicators also had a great impact. Prom
20、inent is the return on investment in minority interest impact. Under the new accounting standards, investment returns are an integral part of operating profit, thus affecting the operating profit of minority interests will no longer be deducted from the net, making the actual net profits of the ente
21、rprise, rather than the profits belong to shareholders. Third, the new accounting standards in the accounting deficiencies in information disclosure (A) the fair value often become the tools for earnings manipulation The new accounting standards introduced the concept of fair value and measurement m
22、ethods. Generally speaking, the new accounting standards system for the use of fair value is still relatively cautious. However, due to new accounting standards for fairness not been clearly defined, and in reality, equity trading and the voluntary behavior in market transactions is also difficult t
23、o define. In developed market conditions, the fair value is easier to confirm, but the market is not sufficient, how to confirm the fair value is a difficult issue. Therefore, the fair value in the market, when measured under non-sufficient condition for the evaluators because of too many subjective
24、 factors involved will lead to fair value under the new guidelines can easily become a tool for accounting manipulation. As a result of the fair value measurement method, debt restructuring, non-monetary asset exchange transactions such as mergers easily become a corporate whitewash profits. Therefo
25、re, the introduction of fair value should be high priority, the new accounting standards should be developed accordingly constraints and norms of the system constraints and management. (B) amortization of intangible assets and means of unreasonable duration Made in accordance with new accounting sta
26、ndards reflect the economic benefits of the intangible asset related to the expected realization of its value amortization method of ways that can not be a reliable way to determine the expected realization of straight-line method of amortization should be used to change the original criteria for al
27、l phases the average spread marketing practices. In addition, new accounting standards should be raised until it becomes available from the intangible assets are no longer recognized as an intangible asset when amortized over the life of only a limited, there is no stress life amortized in accordanc
28、e with the law. The new accounting standards under the amortization method and amortization of intangible assets have a great number of years of uncertainty, which gives great flexibility in dealing with corporate accounting. Unlike intangible assets, fixed assets, there is no clear useful life, amo
29、rtization of age, in practice there is no certain standard to follow, leading to the book value of intangible assets, volatility great. The new guidelines provide for the uncertain life of intangible assets are no longer mandatory for a straight-line amortization taken in the holding period of the e
30、nd of each accounting for impairment testing approach. Therefore, individual companies may take the opportunity to put some life into the assets of the limited life of the assets of uncertainty in order to reduce amortization costs, increase its profits each. Reposted elsewhere in the paper for free
31、 download http:/ (C) The merger of the pooling of interest method flawed The new accounting rules for business combinations under common control shall be in accordance with pooling of interest method of accounting methods, which indicates that the future of Chinas listed companies merger took place,
32、 many of them can follow the pooling of interest method to deal with. As the pooling of interest method does not require use of fair value, its ease of operation is more obvious. On the other hand, pooling of interest method could have left more room for earnings manipulation. Listed companies often
33、 after the merger, the combined company quickly disposed of the assets value has been seriously underestimated by which manufacturing companies significantly improved performance of the merger to bring the illusion. Therefore, the pooling of interest method may be carried out by individual companies
34、 merger of the dynamics, the spread of pooling of interest method of accounting information distortion is bound to become a growth point, the listed companys accounting information disclosure regulation would be long way to go. (D) the lack of forward-looking accounting information The new guideline
35、s in our financial reporting system is a kind of historical reports, emphasis on production and business activities that have occurred in a summary of the results. The financial statement users expect to receive not only the operation of its past, but also get the future value of the predictability
36、of corporate information, for example, the companys future risks and opportunities, corporate managements future development plans, corporate profit forecasts, in order to to make more appropriate decisions to seize opportunities or avoid risks. System of financial reporting under the new criteria l
37、isted in the previous data is still limited to a brief description of operating conditions will cause the historical data and decision-making activities, the asymmetry between the future of nature. 4, the new accounting standards improvements in information disclosure policy (A) the use of fair valu
38、e to create a favorable market environment for Create an open, fair and just market order to obtain the fair value of an open and easy, while recognition of fair value, using a more rigorous and comprehensive management, monitoring guidelines and systems are the new guidelines still need to strive t
39、o improve the place. The need to fair value through the construction of legal system, capital markets and factor markets, as well as the improvement of market supervision, professional ethics and construction of systems engineering to solve, and further improve the system of accounting standards. Th
40、e introduction of fair value, and gradually to keep pace with international, open standards system, our country needs at this stage to support the establishment of the corresponding markets and better supervision system. In this way, in order to achieve the introduction of the fair value of the real
41、 purpose of the transaction feedback from operations more realistic and equitable. (B) specification of the amortization period and amortization of intangible assets means Amortization of intangible assets of new accounting standards in the way, given the relatively large companies choose to space,
42、for this space, it is necessary to manage and control. Amortization method can provide a variety of options, but for different actual situation, should provide the appropriate choice. In order to achieve both flexible and well adapted to the actual situation in various types of intangible assets, ma
43、king the flexibility and applicability of the new guidelines to maximize the effectiveness, and can well control the implementation of corporate accounting standards, not arbitrarily change the accounting policies, accounting is estimated that in order to achieve the purpose of bad intentions of acc
44、ounting manipulation. (Iii) pooling of interest method to conduct strict monitoring As the pooling of interest method will help to improve the combined companys financial position, and left the profit manipulation of space, most countries have been restricted or prohibited. At present, Chinas manage
45、ment of accounting information distortion is an important means of corporate profits from the system to prevent manipulation, but this time in the absence of the relevant norms, the new accounting standard requirements in respect of the merger is still not complete and comprehensive, such as convert
46、ible accounting treatment of the merger still no norms to be followed. Under the new guidelines to curb the use of pooling of interest method for business combinations manipulation, still from the system of rules, supervision and management efforts. For the transaction substantive, recognition of th
47、e book value of assets, etc. need to be more stringent checks. Formulate and improve related specifications, full disclosure of relevant financial and non-financial information, is the current system, under the new guidelines require further work. (D) increasing the forward-looking accounting inform
48、ation Intensified competition among enterprises, improve the business risk, prediction and understanding of the forward-looking information is conducive to operators, investors and the main stakeholders to understand the future development of state enterprises. Predictive information to a certain extent, the lack of reliable guarantees, but you can make up for lack of information did not predict. Enterprises should be based on past information, using the principle of forward-looking projections, forecasts were prepared balance sheet, income statem
