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Research on the New Accounting Standards to Earnings Management of Listed Companies

Author: LiJuan
Tutor: MengCuiHu
School: Nanjing University of Finance and Economics
Course: Accounting
Keywords: New Accounting Standards Earnings Management Listed Companies
CLC: F275
Type: Master's thesis
Year: 2011
Downloads: 169
Quote: 0
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Abstract


Since the 1990s, the role of China security market has been increasingly strengthened. By December 2009, there are 1700 listed companies in Shanghai stock exchange and Shenzhen stock exchange. The market value has reached 24394 billion yuan, which is equivalent to the 95%GDP of 2008. The development of capital markets provides a strong force for the China’s economic development. It also accelerates the pace of international integration. As our stock market has been gradually tended to rational, accounting surplus which is disclosed by the list companies becomes an important basis of decision-making for the stakeholders. Appropriate of earnings management will help to improve the information content of accounting surplus in decision-making. If improperly used, it far outweighs the negative effect of the positive effect. Excessive earnings management will be the obstacle in the developing of the capital market. China ministry official had promulgated the new system of accounting standards, which has been enforced in all of the listed companies since January 1, 2007. It accommodates the development of the market economy in our country. But new accounting standards expand earnings management in specific standards, such as the fair value measurement, long-term assets impairment may not turn back, debt restructuring income into non-operating expenditures, new investment real estate, etc.Firstly, this paper introduces the basic theories of earnings management and accounting standards, explain the relation between earnings management and accounting standards. Because of technical limitations, accounting standard is not cause of earnings management, but the“natural”means for the earnings management. The paper expounds the effect of earning management from the contrastive analysis of the differences between the new accounting standards and the old standards.Secondly, the new accounting standards are still different from international accounting standards. Focusing on China’s actual situation, the accounting standards setters have the conscious of inhibition of earnings management. At the same time the new accounting standards objectively expanded earnings management space in some aspects. For example, debt restructuring, exchange of non-monetary assets specific standards etc. Especially in the fair value of the application for the listed company to a certain extent of earnings management provides space. Through an empirical method, the paper reveals the new paths of the earnings management for the loss listed company to make up the deficits and get surpluses.Finally, on the basis of theoretical analysis and empirical research, the paper gives some policy suggestions to regulate listed companies earnings management, such as weakening of signal functions of accounting surplus, perfect corporate governance structure; also gives the points of view of the construction of Chinese accounting standards, for example, we have to perfect accounting standards formulation mechanism and strengthen the mechanism for the implementation.

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CLC: > Economic > Economic planning and management > Enterprise economy > Corporate Financial Management
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