Study On The Influence Of The Listed Company Profit Manipulation In The Debt Restructuring Standards

Along with the development of the capital market and the securities market, the number of listed companies is rapidly increasing in China, and the market competition is more and more intense, the risk is more and more high, some enterprise may be due to poor management or other factors, cause its operating losses or profitability declining, fund turnover, flawed cash ability is extremely low, unable to repay debts that are due. Therefore, debt both sides will choose relatively economic solution debt dispute method, namely debt restructuring. But, as the debtor and creditor listed companies tend to use debt restructuring as adjustment profit "tool", in order to achieve performance, whitewashed listed, and avoid the purpose of allotments removed.In order to regulate the recognition and measurement of debt restructuring and the disclosure of relevant information, the ministry of finance in 1998 promulgated the debt restructuring standards for the first time. Debt restructuring standards issued from initial to arrive later revisions in China, which reflects the government tried to set up an already can accord with China's national conditions, guiding restructuring trading, and can adapt to the international standards with international convention great effort. In 2006 the new debt restructuring criterion more 2001 standards have bigger change, but the revision returned to 1998, the basic idea of standard setting. Measurement attributes reintroduced to the "fair value", instead of the "old maxim book value"; Debt restructuring gains recorded in "non-operating income" recognized as income elements, and no longer included in the "capital reserve". The current debt restructuring, the provisions of the code with international accounting standards, the provisions of the agreement after China's entry into WTO embodies the need of economic development. But, 2006 debt restructuring standards could be overcome in the application of 1998 standards and the problems in practice, whether can be a very good correct and reasonable use of, have all become experts and scholars grabbed attention the object of study. Because criterion exists incomplete and lag, the enterprise is likely using system vulnerabilities manipulation awaits profit, especially ST company. Profits manipulation is always the topic of concern, because the manipulation of listed companies' profits will directly affect the investors, creditors, governmental departments, public information such as the vital interests of users. The implementation of the new debt restructuring standards of listed companies, brought many influence in a certain extent curbed profits manipulation and earnings management behavior, but also increases the distortion of accounting information management. We investigated debt restructuring criterion to manipulate the listed company profits influence this problem has the vital significance.This article through standard and empirical studies the method of combining the implementation of new debt restructuring standards of listed companies' profits generated the manipulation of the influence on how research, this paper analyzes the listed company profits manipulation using debt restructuring involved means and the accounting items. After execution of the new standards, the listed company operation profit behavior whether can very good suppression and protection for empirical research. Finally draw the conclusion, and puts forward relevant policy Suggestions, in order to further perfect our accounting standards contribute the meager strength.