Research on the Changes of New Accounting Standards and Its Significance

Research on the Changes of New Accounting Standards and Its Significance

Nowadays, the trend of economic development integration is obvious, and accounting standards are also moving towards systematization and convergence. The new accounting standards will help domestic enterprises to go out and foreign enterprises to come in, develop diversified business methods and enrich investment and financing channels. The following is my research paper on the changes and significance of the new accounting standards, to share with you.

This paper sorts out the main changes of the new accounting system and the significance of its implementation, discusses its actual influence on enterprise accounting work, finds out the specific implementation methods of implementing the new accounting standards, and puts forward corresponding implementation measures and opinions, hoping to provide guidance for enterprises and promote the development of accounting industry.

Keywords: new accounting standards; Enterprise accounting work; Influence; suggestion

introduce

The study of the new accounting standards in this paper is conducive to improving the comparability of domestic and foreign capital market information, conforming to the new trend of the development of listed companies, increasing the transparency of enterprise accounting information, and at the same time reflecting the state's policy support for scientific and technological innovation.

First, the main changes of the new accounting standards and its implementation significance

Traditional accounting standards for enterprises are divided into three levels, namely, basic level, general level and specific level. Grass-roots level is the basis of accounting activities and provides guiding principles for other accounting activities; The general level is the concretization of the basic level, which refines the guiding principles into various activities, such as accounting stage and accounting subject. The specific level is the most important and specific level of an enterprise, including accounting, control analysis and so on. The new accounting standards not only inherit these characteristics of the traditional accounting standards for enterprises, but also have some important changes in inventory valuation, debt restructuring, accounting measurement methods, asset impairment preparation, accounting treatment methods and the theory of enterprise consolidated statements. Specific instructions are as follows:

1. Changes in inventory valuation methods.

Will the new accounting standards for enterprises? Last in first out? Cancel, all unified use? First in first out? Method, this change makes the circulation of inventory more truly reflected. First in first out? This method selects the initial purchase price of inventory as the pricing basis, so that enterprises can master the cost flow information of inventory more systematically.

2. The measurement method of fair value is introduced.

Fair value has long been used in accounting and financial reporting standards internationally, and the correlation between accounting information is reflected in this project. The fairness of this project is more important in the development of market economy, although accounting standard 1998 was introduced in China as early as? Non-monetary assets transaction? Debt restructuring? To reflect the concept of fair value, but it was abused in practice, so it was later cancelled. With the improvement of the market system, what are the new accounting standards? Recognition and measurement of financial instruments? Investing in real estate? Enterprise merger? Exchange of non-monetary assets? And then what? Debt restructuring? Other projects have also introduced fair value, and set strict restrictions on practical application according to past experience.

3. Changes in the provision for impairment of assets.

Usually, when the profit of an enterprise rises, it will make more provision for impairment, so as to increase the distributable expenses of the current year, reduce the profit and prevent the possibility of profit decline in the next year; Accordingly, when the profit of an enterprise declines, it will make less provision for impairment, so as to adjust the accounting profit, which makes the company's asset provision even exceed the net profit in some years. The change of accounting standards makes it impossible for enterprises to prepare for the rush back. Inventory depreciation reserve? Fixed assets impairment reserve? Provision for impairment of construction in progress? And then what? Provision for impairment of intangible assets? All projects can no longer be operated in the traditional way, and only related assets can be disposed of before accounting treatment.

4. Strictly handle the accounting affairs of debt restructuring.

Traditional accounting standards stipulate the principle of creditor's concession, that is, when the debtor reorganizes the debt, the difference between its book value and the book value of cash and non-cash payment should be recognized as capital reserve, not the income from debt restructuring. However, in the new accounting standards, new provisions have been made for creditors' concessions, the income from debt restructuring has been confirmed, and the current profits and losses have been calculated. Specifically, cash assets and non-cash assets are calculated separately, and cash assets are transferred for debt restructuring, which is determined by their non-cash fair value. The difference between fair value and book value is used to calculate the current profit and loss.

5. Pay attention to the substantive control of determining the scope of consolidated statements.

According to the basic theory, the standard of consolidated statements has changed. The new standard focuses more on the entity theory of the parent company. As long as the parent company and its subsidiaries can continue to operate, they will be included in the scope of merger, regardless of the equity ratio and owner's equity. However, when the bankruptcy procedure is implemented, the subsidiaries that have been declared clean-up and rectification, the subsidiaries that have been declared bankrupt, the subsidiaries that have sustained losses, and the subsidiaries that are not controlled by the parent company are no longer included in the scope of merger. The changes brought by the new accounting standards are of great significance to the development of modern enterprises. First, it conforms to international management and trends and has distinctive characteristics of the times; Second, combining with China's actual national conditions, while learning from the useful experience of developed countries, it has maintained the characteristics of enterprise development under the market economy system in China and integrated with each other, so that enterprise development can be in line with international standards; The third is the innovation of accounting treatment. For the enterprise accounting system, it improves the efficiency of business processing, including emphasizing fair value measurement, changing profit measurement method, new consolidated accounting treatment, accounts receivable reform and so on.

Second, the impact of the new accounting standards on corporate accounting

First of all, the new accounting standards will help enterprises get more information about domestic and foreign capital markets and enhance their competitiveness. Nowadays, the trend of economic development integration is obvious, and accounting standards are also moving towards systematization and convergence. The new accounting standards will help domestic enterprises to go out and foreign enterprises to come in, realize diversification of business methods and enrich investment and financing channels. The consistency of accounting language will enable enterprises to better integrate into the international economic system, reduce the cost of accounting information conversion, and greatly improve the economic benefits and operating efficiency of enterprises.

Second, China has gradually opened up the listing system of enterprises, restarted the implementation of IPO and securities market registration system, and the new accounting standards conform to the new market trends. After the enterprise goes public, there will be a steady stream of new business activities that need more channels and diversified investment and financing methods. The national financial reform has promoted the emergence of derivative financial instruments, and the understanding of the value of human resources in enterprise development is also improving. The new accounting standards have basically established a relatively complete accounting standards system, which has made a useful supplement to the application of mergers and acquisitions and derivative financial instruments in traditional accounting standards and enriched the relevant content of dealing with complex transactions.

Third, the new accounting standards increase the transparency of enterprise accounting information, which is beneficial to reflect the market value of enterprises after listing. With the increasing demand for information disclosure of listed companies in China's securities market, there are fewer and fewer opportunities for enterprises to falsify. The new accounting standards are conducive to standardizing the behavior of enterprises, putting an end to the falsification and deception of accounting information, ensuring the objectivity of investors' market decisions and maintaining the stability of China's securities market.

Fourth, the new accounting standards are the embodiment of the national science and technology innovation policy. The division of intangible assets is conducive to promoting scientific and technological innovation. The new accounting standards divide intangible assets into development stage and research stage, and the expenditure in the development stage meets the requirements of the new accounting standards and can be capitalized and included in intangible assets; Expenditure in the research stage is included in the current profit and loss. Capitalization of R&D expenses reduces the cost burden of operators' R&D, and plays a key role in improving R&D capabilities and encouraging innovation of scientific and technological enterprises.

Fifth, for enterprises, the new accounting standards will help enterprises improve management and operational efficiency. The quality of accountants has been improved. After learning the new standards, enterprise accounting practitioners have been standardized, avoiding the abuse of account book rules and data, giving accountants motivation, improving their learning ability and self-cultivation, and promoting the standardized development of accounting industry. It integrates a variety of accounting forms in accounting business processing, which makes the accounting voucher system standardized, the accounting subject setting standardized, and the bookkeeping and closing standardized.

Three. Measures and suggestions for enterprises to implement new accounting standards

1. Enterprises should continue to promote the construction of accounting informatization and constantly improve the level of accounting work.

For the development of modern economy, being able to grasp new information quickly and effectively is the embodiment of competitiveness, and it is also an important requirement to adapt to the management of the new era. It is necessary to continuously strengthen the study of information technology and improve the overall ability of enterprises to use information. Informatization is also an important condition for China enterprises to go global. When introducing foreign capital and investing overseas, the application of new accounting standards reduces the troubles caused by different international accounting standards, saves the accounting conversion cost of enterprises and promotes the development of China's foreign trade.

2. Improve the comprehensive quality of accounting practitioners and establish a clear post responsibility system.

Enterprises can strengthen the ability of accounting personnel to handle business through business ability training, and strengthen mutual exchange and learning with other enterprises, and improve the enthusiasm of employees through knowledge contests. At the same time, we should establish a sense of teamwork. Accounting work is not isolated, it needs to communicate with various departments and business departments of the accounting department in order to better complete accounting work and make contributions to the realization of economic benefits for enterprises.

3. From the national level, it is necessary to improve the market economic system, increase support for enterprises and promote social and economic development.

The implementation of the new accounting standards makes the information in financial reports more objective and comprehensive. Increased state support can promote enterprises to formulate higher-quality accounting standards, promote institutional innovation and ensure the authenticity of accounting information. It is an important means and way to reduce transaction costs, an important measure to promote the effective flow of funds, avoid ineffective investment and waste of funds, a general trend for the state to encourage mass entrepreneurship and innovation, and an important foundation for continuously promoting industrial upgrading and deepening enterprise reform, financial reform and the healthy development of the capital market.

Fourth, summary.

Accounting standards are the basic basis and guarantee of enterprise accounting work, which is of great significance to the development of enterprises. Reasonable accounting standards are helpful to the long-term development of enterprises and to improve their economic benefits and operating efficiency. The new accounting standards are necessary to adapt to the new normal trend of economy, absorb the advantages of international standards, and combine the development characteristics of China market economy and enterprise development to realize the internationalization of China enterprises. This paper expounds the main changes of the new accounting system, discusses the actual influence of the new accounting standards on enterprise accounting work, and puts forward relevant suggestions on the specific implementation methods of the new accounting standards, hoping to provide guidance for enterprises and promote the development of accounting industry.

References:

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