Empirical Research On Earnings Management Based On The Debt Restructuring Standard In 2006

In February 15,2006, China formally issues the New Accounting Standards, the new Accounting Standards include one Basic Accounting Standard and thirty-eight specific Accounting Standards.The new Accounting Standards strengthen one new idea, that provide useful accounting informations for investors and the public to make decision.The new Accounting Standards realize international convergence, construct fairly complete Accounting Standards System.Since January 1,2007,the new Accounting Standards System formally implement in listed companies. Undoubtedly, the publication and implementation of the new Accounting Standards System, are the new marker in the history of accounting, and must play an important part for the improvement of market economy and the level of opening up.At the same time, for listed companies, how to carry out the new Accounting Standards is confronted with many new challenges and opportunities, the manager of listed companies must take corresponding measures, because the financial situation may be affected by the new Accounting Standards.In the process of revising the Accounting Standards, Debt Restructuring Standard revises twice, it reflects the selection and balance on the draft of Accounting Standards for the quality of accounting information.Compares to Debt Restructuring Standard in 2001,Debt Restructuring Standard in 2006 revises more or less on define, accounting measurement, manner of debt restructuring,accounting treatment, and disclosure. Debt Restructuring Standard in 2006 is the Accounting Standard which realizes international convergence, conforms to practical condition of our country, and directs the debt restructuring transactions, but the problem that the return of the accounting treatment whether causes the occurrence of earnings management or not needs our thinking.This paper analyzes the implementation of Debt Restructuring Standard in 2006,researches empirically on the listed companies which use the debt restructuring standard to manage earnings, suggests on the implementation of Debt Restructuring Standard in 2006, perfection of market economy, and the enhancement of securities market supervision.