普通本科毕业论文(全文).doc

江西财经大学普通本科毕业论文 普通本科毕业论文题目：The Research on the Scope of Consolidated Financial Statements 学 院 国际学院 学生姓名 王婷 学 号 0053348 专 业 国际会计 届 别 09届 指导教师 蒋金法 职 称 教授 二OO 九 年 五 月28注意全文统一页眉：江西财经大学普通本科毕业论文普通本科生毕业论文（设计）诚信承诺书毕业论文（设计）题 目合并财务报表合并范围的研究The Research on the Scope of Consolidated Financial Statements学生姓名王婷专业国际会计学 号0053348指导老师蒋金法职 称教授所在学院国际学院诚信承诺本人慎重承诺和声明：我承诺在毕业论文（设计）活动中遵守学校有关规定，恪守学术规范，在本人的毕业论文中未剽窃、抄袭他人的学术观点、思想和成果，未篡改研究数据，如有违规行为发生，我愿承担一切责任，接受学校的处理。学生（签名此处打印后手写）：2009年5月30 日AbstractThe consolidated financial statement comprehensively reflects the financial position, operating results, and the cash flow in the group which consists of parent company and subsidiaries. The consolidated scope is the criteria of the consolidated subsidiaries in the group, which means not all the subsidiaries are combined by the parent company. There is a high requirement about the consolidated scope, because the scope has direct influence to the exactness and the usefulness of information offered by the consolidated reports. In the recent years, thanks to the economic developing and the arising of the consolidation, the rules of the consolidated scope have been perfected.The new accounting standard in 2006 makes a milestone for the development of the accounting standards. Basing on the changes in the new standards and combining the old standards and international standards, this essay tries to give some advice to perfect the specific rules about the consolidation scope from the theoretic and practical aspects. Firstly, this essay introduces the background and significance of the consolidation scope research. Secondly this essay makes the research about three consolidation theories and the standard of the consolidated scope; and it states in details about the entity theory in our country. Thirdly, this essay compares the related rules in American standards, international standards and Chinese standards. Lastly this essay carries out research on the problem in consolidation scope, and mainly discusses the special purpose entity and gets some conclusion. 【Key Words】consolidated financial statement, consolidation scope, consolidation theory, control, special purpose entity AcknowledgementsNone of this would have been possible without the generous help of many people. First of all, my deepest gratitude goes to Professor Jiang, my supervisor, for his constant encouragement and guidance. He has walked through all the stages of the writing of this thesis. Without his consistent and illumination instruction, this thesis could not have reached its present form. Second, I would like to express my heartfelt gratitude to all the teachers who taught me in the past four years. They have instructed and helped me a lot, which is very helpful for my future life and wok. Last my thanks would go to my beloved family for their loving considerations and great confidence in me all through these years. I also give my sincere gratitude to my friends and my fellow classmates who gave me their help and time in listening to me and helping me work out my problems during the difficult course of the thesisTo all these people, my sincere thanks.Table of Contents普通本科生毕业论文（设计）诚信承诺书iAbstractiiAcknowledgementsiiiTable of Contentsiv1 Introduction11.1 Background of the research on the consolidation scope11.2 Significance of the research on the consolidation scope22 Premises of the consolidation scope consolidation theories22.1 Introduction of three mainstream theories22.1.1 Parent-company theory32.1.2 Entity theory32.1.3 Proprietary theory42.2 Chinas new choice of consolidated statement theory53 Standards of the consolidation scope Control63.1 Principles versus rules-based accounting standards73.1.1 Rules-based approach to accounting standards83.1.2 Principles-based approach to accounting standards93.2 Evolution of the definition of control under the provision of FASB103.2.1 The FASBs Proposed Standard for Consolidation113.2.2 International Accounting Rules for Consolidation133.2.3 China Accounting Standards for Enterprises No. 33133.3 Inspiration from the comparison of international accounting standards144 Specific problem of consolidation scope Special Purpose Entity164.1 Conception and characteristics164.2 Reasons for creating special entities174.3 Establishment of SPEs184.4 Accounting guidance184.4.1 Financial Accounting Standards184.4.2 International Accounting Standards204.5 Case study Enron Scandal214.6 Some advise to perfect the SPEs regulations in China235 Summarization and conclusion255.1 The main work of the article255.2 Conclusion25References271 Introduction 1.1 Background of the research on the consolidation scope Consolidated financial statements are the financial statements which reflect the financial status, operating outcomes and cash flows of the entire enterprise group formed by the parent company and all its subsidiaries. Since the 90s of the 20th Century, there was a new wave of business combination. Business combination especially holding consolidation will become an important feature in Chinas economy. And with the integration in the world economy, increase in the size of multinational corporations, and the importance of preparing independent financial statements which can provide a true and fair view of the overall financial condition, operating results and future prospects. Therefore, how to reflect the overall financial picture of a business group objectively through the scientific consolidation individual companies accounting statements is one of problems that require international accounting professions in-depth study.About how to prepare consolidated financial statements, there were no precedents in China before 1992. At the beginning of Chinas study on this issue, most regulations were translation or compilation of the west research results. But with the development of capital markets and accelerated pace of the international convergence of accounting standards, China has made a lot effort on this area. The latest provision is “Accounting Standards for Enterprises No. 33 Consolidated Financial Statements (No. 3 2006 of Ministry of Finance February 15, 2006),” which improves the consolidated financial statement theory. But it must be seen, the history of Chinas capital markets businesses development in our country is not very long, but it has developed very rapidly, so there are still imperfect problems needed to be resolved. Therefore, understanding relative provisions of foreign countries, drawing on their experience to study and solve the practical problems in China is very meaningful.1.2 Significance of the research on the consolidation scope The consolidated scope is the criteria of the consolidated subsidiaries in the group, which means not all the subsidiaries are combined by the parent company. Therefore, researches on consolidated scope have important meanings.First, correctly defining the consolidation scope is an important prerequisite for preparing a consolidation financial statement. If we want the statements to reflect the effective control of economy resources, we must be clear about the relationship between economic entities, and next determine which entity should be included in the consolidation statements, which directly influence the integrity and usefulness of the information of the statements.Second, scientific and reasonable consolidated scope can reduce the wrong information due to human factor, improving usefulness of statement, fairly reflecting financial status, operating outcomes and cash flows of the entire enterprise group Third, reasonable consolidated scope can improve the consolidated statements comparability of different business group, enhance transparency of capital markets and provide investors with reliable and comparable information to help them make the right investment decisions. 2 Premises of the consolidation scope consolidation theories2.1 Introduction of three mainstream theories As one of the three most difficult topics of financial accounting, consolidation theories have been experiencing significant changes in recent years. Many standard-setters in the developed countries reconsider the concepts of consolidated financial statements after the FASB published its exposure draft entitled Consolidated Financial Statements - Policy and Procedures in 1995 and intended to replace the parent company concept with entity concept. China regulations concerning consolidated statements are in urgent need for further amendment and improvement. At present, there are three basic theories.2.1.1 Parent-company theoryThe parent-company theory assumes that consolidated financial statements are an extension of parent-company statements and should be prepared from the viewpoint of parent-company stock-holders. Under parent-company theory, we prepare consolidated statements for the benefit of the stockholders of the parent company and we do not expect that non-controlling stockholders can benefit significantly from the statements. Consolidated net income under parent-company theory is a measurement of income to the parent-company stockholders.Certain problems and inconsistencies in accounting procedures under parent-company theory arise in the case of less-than-100%-owned subsidiaries. For example, the non-controlling interest is a liability from the viewpoint of parent-company stockholders, and published statements frequently report the non-controlling interest in the liability section of the consolidated balance sheet. Similarly, non-controlling interest expense is an expense from the viewpoint of majority stockholders. However, shareholder interests, whether majority or non-controlling, are not liabilities under any of the accepted concepts of a liability, and income to shareholders does not meet the requirements for expense recognition. The problem lies in the majority shareholder viewpoint.2.1.2 Entity theory Entity theory represented an alternative view of consolidation. It was developed by Professor Maurice Moonitz and published by the American Accounting Association in 1944 under the title The Entity Theory of Consolidated Statement. The focal point of entity theory is that the consolidated statements reflect the viewpoint of the total business entity, under which all resources controlled by the entity are valued consistently. Under entity theory, the income of non-controlling interests is a distribution of the total income of the consolidated entity, and the interests of non-controlling stockholders are a part of consolidated stockholders entity. Entity theory requires that the income and equity of a subsidiary be determined for all stockholders, so that the total amounts can be allocated between majority and non-controlling shareholders in a consistent manner. Entity theory accomplishes this by imputing a total value for the subsidiary on the basis of the price paid by the parent company for its majority interest. We assign the excess of total value of the subsidiary over the book valve of subsidiary net assets 100% to identifiable assets and to goodwill. In this manner, entity theory consolidates subsidiary assets (including goodwill) and liabilities at their fair values, which are applicable to both non-controlling and majority interests.The entity theory considers liabilities as equities with different rights and legal standing in the business. Under the theory, assets, obligations, revenues, and expenses and other financial aspects of the business entity are accounted for separately from its owners. In other words, the company has an identity distinct from its owners or managers. The firm is viewed as an economic and legal unit. 2.1.3 Proprietary theoryThe proprietary theory assumes that the owners and the firm are virtually identical. Under this theory, the stockholders equity amounts that appear in the consolidated balance sheet are those of the parent company, except for the equity of non-controlling stockholders, which may be reported as a separate item within or outside of consolidated stockholders equity. It neither emphasizes the legal control relationship in business group, nor the economic entity formed by every member enterprise in the business group. Under the proprietary theory, the accounting entity and its economic owner are an indivisible unit. The assets of accounting entity are an expressive form of the wealth of ultimate enterprises owners. The ultimate owner owns the assets of the accounting entity so that they enjoy the rights of disposition. Therefore, the purpose of compiling the financial statements is to report to stockholders of parent company the resources they owned. Thus, when consolidating with a less-than-100%-owned subsidiary, we should use proportion method, which is to consolidate with subsidiaries assets, liabilities and equity according to the stock ownership ratio at fair value. Similarly, the income, cost expense and net profit of the non-wholly owned subsidiary can also only be combined according to the same stock ownership ratio. On dealing with the goodwill, it prefers to reflect based on the parent-company stock ratio, without listing non-controlling stockholders equity. The proprietary theory best applies to single proprietorship entities because there is a personal relationship between the management of the business and the owner. Often, in fact, they are the same person. It also applies to a partnership where net income is added each period to the partners capital accounts.2.2 Chinas new choice of consolidated statement theory Prior to Chinas new accounting guidelines, our country used parent-company theory. The new guidelines began to switch to the entity theory which I believe is an inevitable choice for the following reasons:First, it is because of the cause of consolidated statement emergence. From 1893 to 1904 and 1915 to 1929, there were two wave of business combination which led to the original definition as well as standards in defining control in the early 20th century. It can be seen, business combination is a realistic basis for consolidated statement. In other words, the reason for the emergence of consolidated financial statement is because of the requirement to fairly reflect the control on economic resources, which is exactly the essence of entity theory. 刘文辉.实体理论:我国合并财务报表理论的选择.商业会计2006 02:9-10Second, theory entity is consistent to the definition of Chinas accounting elements. According to Chinas Accounting Standards for Enterprises issued in 2006, a liability is a present obligation arising from past transactions or events which are expected to give rise to an outflow of economic benefits from the enterprise. Expenses are the gross outflow of economic benefits resulted from the course of ordinary activities that result in decreases in owners equity, other than those relating to appropriations of profits to owners. 财政部，企业会计准则，经济科学出版社，2006年2月第1版 Minority interests is a distribution of the total income of the consolidated entity, which can not led to outflow of economic benefits. So it is unreasonable for parent-company entity to consider it as a liability or expense, and under proprietary theory, there is no minority interest. While under entity theory, income of stockholders is a part of consolidated stockholders entity and a distribution of the total income of the consolidated entity, which is more reasonable.Third, as to the consolidated scope, entity theory is more suitable for our countrys situation. At present, business groups are mainly created from the direct investment of parent company. Accounting information should satisfy not only the need of all stockholders but related stakeholders such as internal business management and company creditor. The open style purpose of consolidated statement which entity theory advocates is obviously consistent to basic condition of China, while other entities are too closed. 3 Standards of the consolidation scope ControlThere is a high quality requirement about the consolidated scope, because the scope has a direct influence to the exactness and the usefulness of the information offered by consolidated statements. Thus the scope of consolidated financial is the basis for preparing high quality consolidated reports. Similarly, formulating standards for the scope of consolidated financial statement is the important premise and key component of consolidated financial statements standards. In February 2006, the China ministry of Finance issued Accounting Standards for Enterprises No. 33 Consolidated Financial Statements. Article 6 stated that the scope of consolidation of consolidated financial statements shall be determined on the basis of control. Under the provisions of IAS No.27, the consolidated financial statement should include all the enterprises controlled by parent company. Under the rules of FASB, companies should first measure whether a company controls another one or not and then determine whether or not reflecting financial position, operating results and cash flows of the subsidiary.In conclusion, defining the consolidation scope is the basis for designing consolidation financial statement. The reason for the difference of international standards is different understanding of the definition and essence of control. Before studying different standards, it is necessary to clear two concepts: principles-based accounting standards and rules-based accounting standards.3.1 Principles versus rules-based accounting standardsA growing number of stakeholders have endorsed replacing the current rules-based approach to setting accounting stan