| New accounting standards were promulgated by China's system of accounting standards towards a new milestone and it's the results of the international. Of course, it's to regulate corporate accounting recognition, measurement and reporting behavior, and improve the quality of accounting information. So it can meet the needs of investors, creditors, government and enterprise management and other interested parties. The new accounting standards introduced the measure of the fair value of the property. A lot of changes happened. As follows: changes in inventory management, changes in asset impairment provision, changes in debt restructuring methods, changes in business combination accounting, changes in the basic theory and in the combined statements of financial instruments .These changes are effective in order to improve accounting information of relevance and reliability, inhibit earnings management. Well, the implementation of new accounting standards of effectiveness is discussed in this article.The main purpose of this article is to test the new accounting standards. After the implementation of new accounting standards, whether it can enhance the quality of accounting information reflected by the new accounting statement or not? This can be mainly associated with the authenticity and the relevance, so we choose the perspective of value relevance and earnings management to verify whether the effect of implementation agreement on the desired level. And so is the practice. That is to say the changes in the New accounting standards whether can inhibit the earnings management to make the information true and improve the relevance of accounting information to make the information more relevant.In the first chapter, it's an analysis of the background and significance of study, research ideas and methods, innovation as well as the evolution of accounting standards, the status of earnings management at home and abroad, value relevance. Chapter II provides the definition and evaluation criteria of the quality of accounting information. It also tells us why to choose the tow perspectives. It introduce the theory of earnings management and value relevance, including the definition of earnings management, the measurement of earnings management approach and value relevance. Chapter III tested the result on the implementation of the new accounting standards from the perspective of value relevance. We choose Shenzhen A share listed companies between 2002 and 2007. We use Ohlson model to analyze the samples. The samples can provide both information on the Income Statement and balance sheet. Chapter IV tested the result on the implementation of the new accounting standards from the perspective of earnings management. The paper chooses a share of manufacturing. The sample's interval is 2001-2007.We use the extended Jones model combined with panel data to do regression analysis. We use three methods to analyze. Firstly, we analyze the changes in the overall look of accruals .secondly, we classify the accruals to analyze. Thirdly, discretionary accruals may be added to compare the absolute value of profit analysis. And we can see the discretionary accruals are increased or decreased. The results show that the implementation of new accounting standards, improved the space of the management of the surplus. Chapter V is that the implementation of new accounting standards improves the relevance value but has increased the degree of earnings management. We Explain this contradiction. Then we supplement the test to analysis it. The results show that non-discretionary accruals in the amount of net cash flow, operating income margin, intangible assets have increased the value relevance; The relavancw between shares and non-discretionary accruals is negative relevant and meaningful, that is to say after the implementation of the new accounting standards, the extent of earnings management increased, but the statements of users identify the message,so it does not affect its economic decision-making. Chapter VI is to summarize the issues of empirical analysis related to the corresponding views. At last, the article pointed out the shortcomings of this article, and the prospects for development in the future. |
