Research Of Informational Quality Based On The Consolidated Financial Statements Standards

The consolidated financial statement is considered as one of the four difficult problems by the international financial field. It is a complicated financial operability problem. And it is a controversial topic that contains many theory schools. The use of consolidated financial statements begins from the U.S.A. Some American enterprises tried to compile consolidated financial statements in the late of 19th century. Thus primal mode of consolidated financial statements came into being. By now the theory frame and method system have been formed in the research process by the theory and practice fields of western developed countries. However, the search of consolidated financial statement starts only 10 years of history; there are many problems about the theory and practice of consolidated financial statements, which need to be solved. Therefore, it has a more perfect standard to establish the parent-company making consolidated financial statements.With the increasing integration of the world and joining in the WTO, the enterprise combination, especially the acquisition will become one of the most important features of Chinese economy in a long time. In the condition of economy, the consolidated financial statement that reflects the financial position, operating results and the prospect of the combined group as a whole is becoming more and more important.So this article takes the informational quality of the consolidated financial statement as the objective and uses consolidated financial statement standard as a basic point. We can get the conclusion that the new consolidated financial statement standard isn't perfect and put forward the proposal aimed at the imperfect aspects after comparing with other standards vertically and horizontally and analyzing informational quality. This thesis totally includes five parts of the following:The first section is introduction. It mainly describes the author's study background, the review of informational quality,the goal and the significance,structure and the research method as well as the main contribution. We can see the modern enterprises in our country adjust profit commonly using consolidated financial statement, so it needs to consummate the standard to improve the informational quality urgently.The second section compares with consolidated financial statement standards. After comparing the new standard with old and international standards, we might find out the new standard tend to the international standards in consolidation scope, consolidation theory, proportionate consolidation method, minority shareholder interests, definition prestige, accounting policy. But the new standard isn't equated with international standards completely. The stipulate of exemption statements and temporary stipulation in international standards have not been involved actually in the new standard.The third section compares with the informational qualities under the different standards. It has analyzed informational qualities in different standards based on comparing with different standards. The information quality is lower and it can adjust profit easily in the old standard; the new standard can misunderstand the user and play a very major function to improve statement quality. Simultaneously the author points out the new standard still imperfect. On the one hand, the"control"and the strict unification accounting policy could reduce information usefulness of statement; on the other hand, the stipulates of exemption statements and temporary stipulation in international standards both save the resources and be able to reflect enterprise's financial condition really.The fourth section is to consummate the new standard to enhance the informational quality of consolidated financial statements. Because of the new standard need to improve in four aspects, such as using"control"as the foundation of consolidation scope, the strict unification accounting policy, the exemption statements and the temporary stipulation. Thus the author gives the suggestion correspondingly.The fifth section is to summary and forecast the informational quality in the future. The author points out to enhance inevitably the information quality through consummating and the supplementing the new standard.The main contribution of this article: (1) Proposed initially the basic conditions about the stipulate of exemption statements of partial parent-company in our country. It is an inevitable trend to permit partial parent-company exemption as the consolidated financial statement developing. But because the economic system particularity of our country, we should consider not only the model of international standard but also two aspects: State-owned parent-company and parent-company of changing the consolidation scope.(2) About to improve the stipulate that mother-child company should follow the uniform accounting policy strictly. When the accounting policy of the parent-company and the subsidiary company are more different, in order to the individual statement of subsidiary company to reflect its economic activity, the subsidiary company may not carry on the adjustment according to the parent-company accounting policy. Simultaneously, it must turn out the influence of the commeasurable and the achievement and the financial condition of the enterprise group in the annotation. Besides, it should announce the related information of special profession and the special profession and enterprise in the group to the user in the branch report.The limitations of this article mainly are: firstly, it isn't extremely perfect and comprehensive in the standards-compare; secondly, some problems were not discussed deeply enough.