Research On Transform Of QFR-based Listed Company Financial Reporting

The financial report is the core of financial accounting and the main and visible manner of communicating between enterprises and capital market. It has played an important role in strengthening information exchange between an enterprise and its outside, developing capital market and improving resources allocation. According to modern enterprise theories, an enterprise is the connection of a series of contracts, in which the investors, creditors, managers and others that have relevant interest with the enterprise generally have information asymmetry. Thus the financial report becomes the very important "bridge" for them to communicate with each other. It helps the information users predict future cash flow and risk level of the company so that they can make sufficient evaluation on it by providing them information relevant to decision-making. The more relevant, reliable, sufficient and timely the information disclosure is, the more useful the financial report is in eliminating information asymmetry, improving resources allocation and increasing the efficiency of the capital market.With the fast fierce development of our socialistic market economy, the enterprise's financial environment took place the huge transformation. But because current financial report is subjected to the traditional accounting theory, it can't adapt itself to the development of the social economy and satisfy the information users' gradual diversified need for the accounting information.In order to accommodate to the new economic environment, the content and format of financial report cannot but be developed and reformed constantly. Based on the above, the author discussed relevant problems with the listed companies of our country in hope of helping improve accounting practice and playing a revelatory part in the way of reforming the financial report of our country.This dissertation mainly adopts the normative research method. Firstly, On the basis of contrasting, analyzing and evaluating a great lot of relative literatures, the author probe into the impacts upon modern financial report system produced by the new economic environment and the inherent problems in the listed company's financial report, and then the dissertation brings forward QFR as the theory basis offinancial reporting reformation. Secondly, analyzing the objection of QFR conception. As a new concept, the voluntary disclosure of information supported by QFR has not been used abundantly, so people will unavoidably nourish divergent opinions on it. For example voluntary disclosure of information will increase disclosure cost of listed company, so weaken the motive of disclosure further, etc. For these questions, this thesis thinks that as a helpful activity, it should be analyzed from the whole listed company systematically and completely and be treated with correct method. So we could realize the advantage that the voluntary disclosure of business information supported by QFR can improve the validity of listed company and even security market. Finally, transforming listed companies' Financial Reporting based on QFR. For listed company and relevant departments, this thesis puts forward ideas on the transform. The former includes voluntary disclosure guideline, content consult, operation sequence and disclosure forms, etc;the later mainly talks about the relevant sanction.