Quality And Accounting Of Assets Reorganization

After the 15th Party Congress, asset restructuring has become one of the hot issues in China's economic development. However, how to play the role of accounting to ensure the quality of asset restructuring has not received due attention.

Asset restructuring should be a process. According to its operation procedures, it can be divided into three stages, namely, advance planning, operation in the event and operation afterwards.

Under the modern enterprise system, the operation of different stages requires different ways of capital operation, and all of them are related to the quality of accounting work. Only by strengthening the awareness of quality at different stages, strengthening the quality control at different stages and giving full play to the role of accounting work in different stages of asset restructuring can the reorganization process be carried out in an orderly way so as to ensure the realization of the objectives of asset restructuring.

Therefore, it is necessary to study the relationship between the quality of asset restructuring and the quality of accounting work.

To improve the quality of assets reorganization is the key to ensure the implementation of the asset reorganization. The high quality asset reorganization is mainly reflected in the following aspects: first, the relatively low investment in restructuring; that is, the low cost scale expansion; two, the obvious improvement of the operating condition of the enterprise; the financial condition reflecting the comprehensive operation performance has produced the effect of 1+1 > 2; the three is that the internal organization of the enterprise has realized the rational allocation, and thus has achieved the highly efficient operation; four, the development and utilization of human resources has reached a higher overall level.

In line with the above four requirements, the main constraint factors of asset restructuring quality can be divided into five parts, but all parts are related to the status of accounting work.

In the current economic environment of China, asset restructuring is a highly policy oriented work. Only with relatively sound laws and regulations and guided by more specific policies can we lay a solid policy foundation for improving the quality of asset restructuring.

This requires that the relevant policy and functional departments of the state should, based on the reality of China's economic development and in accordance with the progress of the reorganization of assets, and on the basis of full investigation and study of the organizational strength, introduce a series of laws and regulations and corresponding supporting policies that both sides can carry out rigid constraints and flexible constraints on the reorganization of assets so as to follow the rules, especially the accounting policies for specific business areas, such as asset appraisal and property rights identification, property pfer, debt restructuring, etc., and require specific and operational requirements.

Although there are already some provisions in this respect, generally speaking, the degree of compatibility of relevant policies and the degree of integration of relevant policies are not very high, and some policies still have conflicting phenomena, thus forming a policy obstacle for the smooth operation of reorganization.

Only when the regulations are perfect and the policies are matched, can the assets reorganization be leapt out of the constraint of the administrative adjustment of "reorganization" and the entry into the normal orbit of economic restructuring.

(two) the operation procedure is standardized and scientific. As the reorganization of assets is a systematic project, from planning to completion, it will take a long time. There are some technical factors that need to be considered, and some policy provisions need to be observed. Therefore, we should standardize the procedures of asset reorganization so that the whole process can be programmed scientifically, operate well, operate smoothly and in place, so as to provide a technical guarantee for the quality of asset restructuring.

At every stage of the operation procedure, a good foundation of accounting work is needed. Otherwise, because of the lack of the validity of the basic accounting information, the objectives of every step of the asset reorganization procedure can hardly be implemented.

(three) information channel is comprehensive and unimpeded. The selection of assets reorganization objects is another important factor affecting the quality of asset restructuring. However, in the decision making of reorganization objects and the decision of reorganization mode, high quality related accounting information and smooth flow of information circulation are important, and it is the key to success or failure of reorganization activities.

In terms of the formulation of the reorganization clause and the confirmation of the reorganization result, there is a reorganizing technical contest between the two sides of the reorganization, and more importantly, there is a game of information ownership.

In determining the decision information of reorganized objects, the accurate accounting information of the past and past is an important part of it, such as investment cost, expected return, asset liability ratio and so on.

For the reorganizing initiative, especially in the determination of the object of asset reorganization, we should follow the principle of seeking truth from facts. We must proceed from our actual operational ability and development trend. Only by grasping the complete market related information and the accounting information of the reorganized party can we make the correct reorganization decision so as to ensure the realization of the reorganization goal.

All of this.

All are closely related to the smoothness of information.

(four) the implementation of the social service system and the reorganization of assets will inevitably lead to a series of social services such as law, notarization and asset appraisal. This requires that not only the relevant service agencies, but also those service organizations should be authorized by the relevant departments of the state under the premise of having the corresponding technical support capability.

Otherwise, irregular service institutions and non-standard services will inevitably lead to unqualified service quality, which will distort the motivation of asset restructuring and restrict the quality of asset restructuring.

In the asset reorganization work, the leading role of the social service system should be asset appraisal, accounting statement audit, asset verification and forensic service with accounting firms as the main body.

In addition, the value of financial advisers should also be fully addressed.

(five) the full play of the role of audit supervision should be taken into account in the understanding of the assets of the target enterprises before the reorganization of assets. The following aspects should be considered: first, the financial matters that the target enterprises have not disclosed; when the receivables turnover rate and inventory turnover rate are analyzed, it is found that there is any false asset value or false income; when checking accounts receivable, the possibility of recovery and the provision of bad debts should be considered; when reviewing the long-term investment, the financial situation of the investment company should be taken into consideration; the valuation of fixed assets and intangible assets should be assessed in accordance with the predetermined assessment methods and methods.

The two is related to liabilities.

Paying attention to creditors' legal recourse should be paid to the debts that have already expired, and the tax, penalty and penalty interest that may occur on the part of the book showing part and the extra tax burden and the missing tax burden should be found in the corresponding tax payment.

In addition, in order to reduce the inventory value underestimated by taxation, unrecorded inventory and overvalued stock value, product liability and environmental litigation arising from the production process, improper financial statements, unreceivable receivables, non realizable investment, major future expenditures, abnormal financial and unusual items, and imperfect mechanisms can be reviewed by the CPA firm to the financial condition of the restructured enterprises, so as to prove that the net assets of the financial statements are equal to or higher than the agreed purchase price. The financial statements provided by the seller reflect the financial situation of the enterprise fairly.

If a financial statement is found to be mistaken, it should prompt the other party to adjust the financial statements accordingly, so that the reorganization can reflect the real financial situation.

In the current situation, there are two ways to adjust and improve this situation: first, incremental adjustment is to achieve the goal of structural optimization by changing the existing unreasonable investment structure; the two is to carry out stock adjustment, which mainly emphasizes the rational flow and reorganization of stock assets, breaking the original economic structure in the process of asset flow, and optimizing the allocation of resources in the process of asset restructuring, so as to achieve and form a new and reasonable economic structure. The two is the adjustment of assets.

In a sense, the adjustment of stock is the basis of incremental adjustment, and it will restrict the structure and effect of incremental investment to a certain extent.

Only by revitalize the stock assets can incremental assets be invested.

Therefore, in the choice of the overall strategy of state owned economic restructuring, we should adhere to the basic principles of stock adjustment and incremental adjustment as a supplement, and make full use of the operating potential of stock assets through asset restructuring so as to improve the economic benefits of stock assets.

The important sign of incremental investment is to increase capital input, while stock adjustment requires relatively little capital injection; three, on the adjustment cost measurement, the absolute cost of incremental adjustment is relatively high, while the absolute cost of stock adjustment is relatively low; four, on the adjustment result, incremental adjustment is a kind of mandatory short-term relative balance, while stock adjustment is a new balance formed on the basis of breaking the original unreasonable structure, so it is more flexible, and the most effective way to implement stock adjustment is to carry out asset reorganization. This is because: first, in the adjustment of the effective time, incremental adjustment is a long-term process, which is restricted by the amount of input funds available, while the effect of stock adjustment is faster. Two, it is adjusting.

(two) the definition of the scope of asset reorganization is mainly about the choice of the scope of asset restructuring, whether it involves the expansion of external assets or the reorganization of assets in the internal capital exploitation.

The external expansion of asset restructuring is mainly related to the initiative's industrial development strategy, that is, restructuring in the industry or jumping out of the bondage of the industry to carry out cross industry restructuring.

In the aspect of determining the direction of industrial expansion of asset reorganization, we should implement a policy of multiple directions and diversification, expand the brand effect of enterprises through the industrial chain formed by industrial expansion, increase the brand group of enterprises, increase the intangible capital of enterprises, and expand the industrial form of intangible assets.

Of course, cross industry restructuring can provide a new living space for the development of enterprises, but at the same time, it will make the restructured enterprises face some problems of new management methods and adjustment of operational policies that will not be faced in the previous business process, thus challenging the managers' knowledge structure and management organizational capability.

If we only carry out the reorganization within the industry, though it will avoid the adverse factors, it will leave an unfavorable foreshadowing for the development prospects and business space expansion of the enterprises.

The decision of restructuring scope will inevitably involve the full use of accounting information.

It can be seen that scientifically defining the scope of asset reorganization is the prerequisite to improve the quality of asset restructuring through the play of accounting decision-making.

(three) the scale of asset reorganization is realistic. It mainly refers to the strategy of implementing moderate expansion or the large-scale expansion strategy in the choice of assets reorganization scale.

The adoption of mergers and acquisitions can achieve the expansion of corporate capital and provide a basis for further asset restructuring.

Under such circumstances, the goal of reorganization is to make use of the control rights acquired by mergers and acquisitions to make structural readjustment of the resources of the target enterprises, so as to meet the requirements of the resource management objectives and operational efficiency of the acquiring enterprises, so as to achieve the optimal allocation effect of social resources.

In addition, the reorganization of the scope of the decision is to implement all restructuring or partial reorganization, depending on the actual situation of the enterprise.

It would be undesirable if the benefits that had been restructured completely exceeded the cost brought down by some restructuring.

Whether to choose a complete restructuring or to choose a partial reorganization method depends on the specific circumstances of each industry and the specific circumstances of the enterprises in the same industry.

Compared with the complete reorganization, partial reorganization can reduce the fixed cost of the recombination process.

It can be seen that making full use of all kinds of accounting information and combining with the actual situation of enterprises to determine the scale of asset reorganization is an effective means to improve the quality of asset reorganization.

(four) the form of asset reorganization should be determined according to local conditions, and the most effective way should be determined in the choice of assets reorganization form.

The choice of reorganization mode will be restricted by the requirement of low cost expansion.

At present, the main forms of asset reorganization include debt merger, investment purchase, asset merger, merger and acquisition, holding merger, two stage market acquisition, investment holding merger, asset replacement, backdoor listing, shell listing and trusteeship.

Different forms of asset reorganization have different operational procedures, so they have different requirements for accounting information.

The form of reorganization should be determined according to its capability and long-term development plan.