Research On Uncertain Accounting Information Disclosure In China

With the economic globalization is accelerating, the investors faced both opportunities and more risks and uncertainties. Information users need more uncertain accounting information to assess the uncertainty of future cash flow and operating results, based on the certain accounting information. Although there are some requirements related to uncertain accounting information disclosure in the rules and regulations of many national authorities, and the study of uncertain accounting information disclosure has not formed a more complete theoretical system at home and abroad. As the close relationship of the corporate governance and uncertain accounting information disclosure, the paper, from a corporate governance perspective, analyzes the way of uncertain accounting information disclosure and the problem-oriented of guidelines.Based on the exposition of agency theory, public interest theory, decision-making utility theory, and the description of the relationship between uncertain accounting information and certain accounting information, the concept of uncertain accounting information, classification, characteristics, content, and incentives and cost-effectiveness of uncertain accounting information disclosure, the paper lays the foundation for the study on the uncertain accounting information disclosure later.By the relation of the modern accounting and corporate governance, combined with agent theory, the paper analyses the impact of the uncertain accounting information disclosure to corporate internal management structure (shareholders, board of directors, supervisors, managers) and corporate external governance mechanisms (market for corporate control, government regulation of market, the credit mechanism of intermediaries), and the condition of corporate governance to uncertain accounting information disclosure, and explains the interact relationship of corporate governance and uncertain accounting information disclosure from the theoretical point of view. In order to verify this view, this paper analyses by the way of case study——the introduction of Bahrain's case, and thinks it is probable that uncertain accounting information disclosure is utilized. Subsequently, the reason is explained from five aspects——uncertain accounting information disclosure being not paid sufficient attention; uncertainty increasing the cost of uncertain accounting information disclosure; uncertainty intensifing information asymmetry between principal and agent; the imperfect accounting system; low efficient corporate governance. Based on the public interest theory and case, the paper concludes that mandatory disclosure should be taken mainly supplemented by voluntary disclosure ways to strengthen the unique accounting information——uncertain accounting information disclosure, comparing to and analysing the pros and cons of voluntary and mandatory disclosure of uncertain accounting information.In order to improve uncertain accounting information disclosure in China, the paper discusses the problem-oriented of uncertain accounting information disclosure standards setting, based on the situation of uncertain accounting information disclosure in securities market in China. The statistics that China Securities Regulatory Commission announcement on punishment of uncertain accounting information disclosure, reveals the features that uncertain accounting information is disclosed falsely, inadequately, incompletely, hidden or later, irregularly, and analyses them based on the specific situation in China——uncertain accounting information disclosure system, the situation of corporate internal governance, capital market development, legal penalties. In connection with the low level of uncertain accounting information disclosure in China and the status of differences between reliability and relevance——the two main qualitative characteristics of accounting information in the development of accounting standards, the paper thinks that reliability is more closely linked with the rule based and relevance linked with the principle based closely after comparing to advantages and disadvantages of principle based and rule based. By using game theory, the paper concludes that rule based should be taken mainly supplemented by principle based in the formulation of uncertain accounting information disclosure in China.In the end of the paper, relevant measures and suggestions are proposed to improve corporate governance and uncertain accounting information disclosure in China.