Public Company Accounting Commercial Production Theory

The security market of our country has being developed for morethan ten years, and has made great progress in the quantity of listedcompany,the scale of merging capital, the reformation of companysystem and so on. Its position in our national economy is increasinglyimportant. As to mention the establishment of accounting system, ourcountry has obviously accelerated the steps to construct accountingregulations and made great efforts to improve the quality of accountinginformation since the accounting reformation in 1993,which plays apositive role in protecting the investors' benefit as well as maintaining aconstant and sound development for our security market. In the aspectsof accounting information disclosure, we have obtained a lot ofexperience from mature foreign security markets and made atransformation from semiyearly report, annual report to quarterly report,semiyearly report, and annual report. This brought the dream ofprotecting the benefits of the investors into reality and it also made agreat progress in meeting the investors' need for accounting informationwhich is vital to their investment decision. But the listed company hasplayed more and more tricks (such as HongGuang, ZhengBaiwen,Yingguanxia, Lantian stock) since the case of Qiongminyuan falseaccount, the credibility of the accounting information of listed companyhas already become the focus of public investors while the certifiedaccountants as economic police are strictly criticized by people. In orderto protect investors' interests and maintain the stability of the securitymarket, the supervision department of the security market proposed thedouble audit standard in 2002, which indicated that our supervisiondepartment distrust the certified accountant, and the development ofChinese certified accountant industry is facing a serious crisis. The falseaccount incident of Enron and the bankrupt of Anderson in Americanindicated that even the advanced certified accountant might not bereliable, so our securities supervision department canceled the plan ofdouble audit . The authenticity of the accounting information of listedcompany has already turned into a world wide difficult problem. But allthe studied done by now didn't go deep into the accounting informationproduction system itself. The main idea of this thesis is that: As theinformation production system itself has problems, it's necessary toreallocate its " materials", which is also called " material reallocation".Then we can solve this problem from its fountainhead.The fundamental train of thought and method used in this thesis: The information production pattern used in listed companies is thekey to cause distortion of accounting information, so the resolution of thisproblem depends on the reform we apply to the production system itself.The fundamental idea in this thesis is to make accounting informationcommercialized, marketized, socialized by reallocating materials usedin the accounting information production system. Through the researchon information production system in listed companies, this thesis takesthe view that part of the financial function should be separated from theaccounting department and merged with the audit of certified accountant,which can make the information production procedure turn to beone—step carried out by the certified accountant in the near future fromtwo –-step (first carried out by the accounting department in the company,then by audit of certified accountant). The main task of the accountingdepartment is to execute the inner function of managerial accounting, costaccounting, economic analysis and etc, which will make the accountingdepartment return to the company and execute its function moreeffectively for inner management. An important question in this thesis isthat who should pay for the commercialization of the accountinginformation. According to the rule of "who use it, and who should pay",the extensive investors should pay for it as they use it ultimately. Becausethe investors own the listed company, their information cost can be paidby...