Research On Corporate Financial Reporting From Effectiveness Perspective

Coal is referred to as the most important fundamental energy and industrial material ,and belongs to no recycled mineral resource, coal production has its own industrial characteristics with the higher profit, risk, danger, pollution and destroy, production procedures and production characteristics are different from oil & gas industries under the mineral resource. At present, specific accounting standard has been promulgated on disclosure of accounting information in oil & gas industries in the domestic and foreign country, but is not suitable to other mineral resources such as coal; Although international financial reporting standard has been issued on exploration and evaluation of mineral resources, it is only suitable to a certain phrase of production procedure; Extractive coal industry in disclosure of accounting information has no its own industrial norm, to design enterprise'accounting standard——production activity in extractive coal industry is an important purpose. To formulate an accounting standard is not away from its theoretic foundation, theory research on financial reporting from effectiveness perspective builds the substantially theoretic foundation in order to design the financial reporting standard in extractive coal industry, so to construct the theory frame on financial reporting from effectiveness perspective is another purpose. System method, analysis method, comparison method, deduction method and induction method etc. are applied in this paper.The whole paper is made up of six parts:Part one is an introduction. To include the background to select an subject, purpose to study, present situation to study in the domestic and foreign country, theoretic meaning and realistic meaning to study, scopes and methods to study, train to study and frame to construct.Part two is to expound the effectiveness perspective. To include effectiveness perspective to put forward, theory to explain the effectiveness perspective, and that effectiveness perspective has influence on disclosure of accounting information.Part three is theory frame on financial reporting from effectiveness perspective (up). To include the objective circumstance of financial accounting in extractive coal industry, the objective position, the basic postulate, the qualitative characteristics of financial reporting from effectiveness perspective.Part four is theory frame on financial reporting from effectiveness perspective (down). To include the basic content and presentation model of financial reporting from effectiveness perspective.Part five is standard design of financial reporting in extractive coal industry. To include background to design the standard, basis and purpose to design the standard, scope to apply, and basic content, ( accounting transaction of exploration, development, extraction and selection, and presentation and disclosure of accounting information. )Part six is case analysis of financial reporting in extractive coal industry. To include the sample selection and data source, content of data to select, content and form analysis of information disclosure on financial reporting.Original idea is made up of four points in the whole paper:Point one is objective position of financial reporting from effectiveness perspective. Different subjective goal depends on different objective environment, it has gone through the"accountability"under the corporate enterprise, develops the"decision-usefulness"under the listed corporation in the more complete capital market, and extend to the"supervision-usefulness"under the sustainable developing enterprise, in the incomplete capital market and the higher externality(effectiveness perspective).Point two is basic postulate of financial reporting from effectiveness perspective. On the basis of effectiveness perspective, the basic postulate of financial reporting is analyzed from time dimension, space dimension, and condition dimension, and constructs a basic postulate system of financial reporting made up of business entity, right entity, time period, sustainable development, market price and government regulation.Point three is the qualitative characteristics of financial reporting from effectiveness perspective. On the basis of effectiveness perspective, the qualitative standard system is constructed made up of general qualitative characteristics (including fullness and clearness ), major qualitative characteristics (including reliability and relevance), minor qualitative characteristics (including comparability) and restrained qualitative characteristics (including effectiveness and materiality), which reflects the intrinsic nature of accounting information in quality, quantity, and degree from the point of stakeholders'demand.Point four is the design of enterprise'accounting standard——production activity in extractive coal industry. To study the policy about accounting transaction of exploration, development, extraction and selection according to production procedure in extractive coal industry, three-dimension presentation model of information on economic interest, social responsibility, resource and protecting environment. That is, three-dimension presentation model of financial reporting is made up of major financial reporting (including fundamental financial statement and particular financial statement),minor financial reporting(including auxiliary statement and note), supplementary financial reporting (including no financial reporting ), and major financial reporting is especially classed into fundamental financial statement for public demand of all users and particular financial statement special demand of major stakeholders.