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Study of impairment of assets of listed companies

Author: TangYi
Tutor: ZhangLiShang
School: Southwestern University of Finance and Economics
Course: Accounting
Keywords: Provision for Asset Impairment List CompanyPrudence Principle Earnings Management
CLC: F275
Type: Master's thesis
Year: 2004
Downloads: 1034
Quote: 4
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Abstract

According the accounting systems ,the list company should recognize the asset impairment when the fair value exceeds its book value and is nonrecoverable. In fact ,it originated from the prudence principle .On one hand ,through the recognizing of eight Asset Impairment , determining the possible profit and loss conservatively ,we can get rid of the foam of assets ，and get the true accounting information ; on the other hand ,for the great flexibility of accounting policy, most of companies make use of the drawbacks of accounting policy in Asset Impairment ,to adjust the profit . To aim at the current issue in Asset Impairment of list company in our country ,It’s necessary and meaningful to attach importance to and study the Asset Impairment issue. The thesis consists of five chapters. Chapter One introduces simply the regulation of Asset Impairment in our country, and summarizes the background and meanings of the recognizing in Asset Impairment . Chapter Two studies the theory about Asset Impairment .The content includes the theory of accounting goal、the theory of capital save from damage and accounting measurement theory .The author point out that the theory is the inherent demand for the recognizing of Asset Impairment . Chapter Three mainly collect the data of list company on Asset Impairment. From the data , the author concludes the characteristic and rule of how to recognize and measure Asset Impairment for our country’s list company .The author find out that some companies affirmed mint Asset Impairment last year ,and then write off that this year so that they can make up the deficits and get surpluses. Still some companies try to <WP=9>affirm mint Asset Impairment ,so that they can have the chance to pay off in the next year .From the data ,The author also finds out that the recognizing and writing off of Provision for Bad Debts、Reserve for Inventory Price Decline 、Reserve for Depreciation of Fixed Assets are the main factors which influence the profit and loss of list companies. Most of firms often change the proportion and ways of provision for bad debts. They still take advantage of the tracing back adjustment ,replacement of assets etc to change the provision for asset Impairment . Chapter Four mainly discusses the comparison on the recognizing、measuring、writing off and disclosing on Asset Impairment between our accounting system and the IAS36. The author examines Chinese current accounting regulation on the issue , and finds out many drawbacks ,such as lack of specific measurement of recognizing and measuring the Asset Impairment, and the weakness in supervising the substantial disclosure . In a word ,our regulations have too much flexibility, so the list company can make use of that to adjust the profit .Chapter Five analyzes the reason why the list company of our countries recognize the Asset Impairment excessively or inadequately. Based on the above analyses, the theoretical foundation is the basic reason for the recognization on Asset Impairment .Following that ,the author believes the earnings management is another cause for that .In addition to that ,still there are some other reasons that result in the list company’s incorrect recognization of the Asset Impairment ,such as the accounting system 、the supervising policy of list company and the accounting environment and conditions of enterprises.In Chapter Six, the thesis comes up with countermeasures to solve the above mentioned problems. On one hand ,it’s necessary to improve the supervising measure ,promote the corporate governance ,create an mature and transparent market ,strengthen the independence auditing on <WP=10>Asset Impairment, and make the investors become mature .On the other hand ,the most important is we must improve our accounting regulation in Asset Impairment ,We have to be cautious to endow the selective power of enterprises on Asset Impairment , and make the regulation more oneness and perspicuity , still strengthen the accounting control、supervising an

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