New accounting system for listed companies of the

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New accounting system on the research of listed companies

Abstract: Based on the comparison of old and new accounting system to study the impact on listed companies and therefore on the financial analysis of listed companies should pay attention to some problems.
Ministry of Finance issued in January 2001, , record and report the complete specification. In early 2002, listed companies under the new accounting system will be gradually released its 2001 annual report. New accounting system will be below listed company's financial position to bring change to do a specific analysis.
A new accounting system in the accounting aspects of the characteristics
(A) determine the short-term investment income
Accounting system by industry and the The new accounting system has changed the previous method of revenue recognition as an investment, cash dividends will be made in short-term investments and interest charged against the carrying value of the sound practices will help to resist the possible risk of short-term investments, short-term investments to avoid price annual fluctuations between profit and loss volatility.
(B) capitalized interest on borrowings
Acquisition and construction loan for fixed assets, capitalized interest on the amount of time and chaotic past. For example: the industry accounting requirements, corporate accounting system procedures for accounts not later than the completion of the practice. The new accounting requirements in order to
(C) debt restructuring and non-monetary transactions
1998 and 1999 despite the promulgation of the debt restructuring were non-monetary transactions and accounting standards, and in 2001 this was revised, but in the accounting system to regulate them is the first time. New accounting system for debt restructuring provisions and non-monetary transactions play down cash assets of the original criteria for Africa income statement. This provides not only avoids excessive Diaozhang, also to a certain extent, curb the use of debt restructuring and non-monetary transactions, the behavior of profit manipulation.
(D) Impairment of assets
Although the previous system asset impairment accounting treatment of certain requirements, but far from the system (such as industry system only provides for bad debts and commodity price-cutting for the provision, provision), the new accounting system will be principle, so that the value of its assets should be consistent with the earnings potential. In addition to the new accounting system The provision for the recognition and measurement provisions made accordingly.
Second, the new provision of four
New accounting system in the past four provision requiring listed companies to extract the short-term investments, long-term investments, inventories, accounts receivable, based on impairment of fixed assets added, construction in progress for impairment of intangible assets impairment, four commissioned loan impairment provision. The original four listed companies to make provision for the value of liquid assets more real, and the new provision to increase further crowding out of four corporate fixed assets, intangible assets and other projects in the bubble, the accounting principle of prudence reflected. The rapid development of science and technology makes a variety of production equipment, technology to speed up the upgrading, the rate of depreciation of corporate assets than ever before. In this case, the past has been far from straight-line method of depreciation amortization does not reflect the true value of assets, provision for a new four measure the quality of assets has become a more stringent benchmark.
(A) impairment of fixed assets
The new accounting requirements, business at the end of the period of fixed assets should be in accordance with the lower of carrying amount and recoverable amount measured, the recoverable amount is less than the carrying value of the difference should be provision for impairment of fixed assets. Provision for impairment of fixed assets greater impact on capital-intensive companies. The main object of the power, roads, bridges, highways, energy, production equipment and other listed companies in traditional industries, and some electronic information and listed companies in the pharmaceutical industry (see Table 1). Such enterprises are capital-intensive enterprises, a larger proportion of fixed assets to total assets. Market value of fixed assets continued to decline or technological obsolescence, damage, long idle, depreciation and other reasons, the value of fixed assets, the difference between the recoverable value of the new accounting system should require listed companies to prepare this part of the difference between impairment. For example, the Group for ALUMINUM happiness, happiness garment factories idle part of the long-term fixed assets, damage and other reasons, no longer has use value and transfer value, resulting in the recoverable amount is lower than its book value, according to new accounting policies were accrued 1073.5 million yuan and 386.7 million yuan impairment. And make a retroactive adjustment (indirect losses caused by the medium term, net profit -82 million, earnings per share -0.0026 million).
(B) Impairment of construction
The current provision for impairment of construction in progress the company is small. The provision is mainly based on the following: First, the long-term cessation of construction in progress and is expected in the next 3 years do not re-started; the second is built by the project in terms of performance, or has fallen behind in technology, and to the enterprise zone to the economic interests of great uncertainty; third is other sufficient proof construction is impaired in the case. In these cases, the recoverable amount is less than the carrying value of construction in progress, some provision for impairment of construction in progress, when extracted by a single item in the cost of construction exceeds its net realizable value determined. It can be seen,[link widoczny dla zalogowanych], if not halt the project or were not suited to market changes, impairment of construction in progress, the situation should be not much.
Table 1 2001 mid-year report prepared extract a higher proportion of fixed assets, reduction of the 15 listed companies list

92.30%
<TD Class=xl24 style=<TR Style=<TD Class=xl24 style=

24.30%
<TD Class=xl24 style=<TR Style=<TD Class=xl24 style=

21.60%
<TD Class=xl24 style=<TR Style=<TD Class=xl24 style=

20.70%
<TD Class=xl24 style=<TR Style=<TD Class=xl24 style=

20.20%
<TD Class=xl24 style=<TR Style=<TD Class=xl24 style=

<TD Class=xl24 style=<TR Style=<TD Class=xl24 style=

14.90%
<TD Class=xl24 style=<TR Style=<TD Class=xl24 style=

14.10%
<TD Class=xl24 style=<TR Style=<TD Class=xl24 style=

14.10%
<TD Class=xl24 style=<TR Style=<TD Class=xl24 style=

13.90%
<TD Class=xl24 style=<TR Style=<TD Class=xl24 style=

13.20%
<TD Class=xl24 style=<TR Style=<TD Class=xl24 style=

12.50%
<TD Class=xl24 style=<TR Style=<TD Class=xl24 style=

11.70%
<TD Class=xl24 style=<TR Style=<TD Class=xl24 style=

7.50%

7%

But for long-term losses, arrears or the suspension of business and engineering construction in a large proportion of total assets for the provision of listed companies will have a certain impact. For example, in 2001 more than 5800 million in mid-extracted impairment in the blessed land of construction technology, is due to CPT project in Chengdu have been suspended and re-argument, impairment of the item to the carrying value of the extraction of 80%, only in this one , accounting for interim losses of 1 / 4 or more.
(c) impairment of intangible assets
new accounting system requires the carrying value of intangible assets shall be measured at the lower recoverable amount, the recoverable amount is less than the carrying value of the difference should be provision for impairment of intangible assets.
intangible assets including patents, non-patent technology, trademarks, copyrights, land use rights. The main impact of the object is a provision in the high-tech industries account for intangible assets and goodwill of the brand a large proportion of listed companies (see Table 2).

Table 2 for extracting a higher proportion of intangible assets, reduction of the 15 listed companies

<TD Class=xl26 style=<TR Style=<TD Class=xl24 style=
<TD Class=xl26 style=<TR Style=<TD Class=xl24 style=
<TD Class=xl26 style=<TR Style=<TD Class=xl24 style=<TD Class=xl26 style=<TD Class=xl26 style=<TD Class=xl29 style=
<TD Class=xl26 style=<TR Style=<TD Class=xl24 style=<TD Class=xl26 style=<TD Class=xl26 style=<TD Class=xl29 style=
<TD Class=xl26 style=<TR Style=<TD Class=xl24 style=<TD Class=xl26 style=<TD Class=xl26 style=<TD Class=xl29 style=
<TD Class=xl26 style=<TR Style=<TD Class=xl24 style=<TD Class=xl26 style=<TD Class=xl26 style=<TD Class=xl29 style=
<TD Class=xl26 style=<TR Style=<TD Class=xl24 style=