Stakeholders In Governance, Financial Reporting Model

From the relationship between corporate governance and financial report, the article discusses the financial reporting mode under the corporate governance in which the stakeholders take the first place. The article thinks an entrepreneur is an aggregation of contracts which reflect the stakeholders putting economic resources and labor into the entrepreneur, rely on the economic resources and labor, all stakeholders share the profit over the property right. Although the stakeholders are equal, but the distribution is unfair, which rely on the contrast of the strength and the game result. In the game, corresponding the shareholders, the other stakeholders' strength of negotiation boost up, which upgrades their station in the corporate governance. Naturally, the corporate governance structure in which the shareholders take the first place transforms into the other structure in which the stakeholders take the first place.As a language of corporate governance structure, accounting reflects and perfects the corporate governance structure. In the corporate governance structure, all the claims of profit over the property right change into the claims of accounting information. Under the corporate governance structure in which the stakeholders take the first place, the stakeholders have two opposite attitudes over the accounting information. On the one hand, the nature of self-benefit make it possible for them to control accounting information, when everything is ready, this motivation turns into real activity; on the other hand, out of consideration of self-benefit, all the stakeholders will resist and supervise the action of others controlling accounting information . financial statement mode is the final result of the game.On the basis of the analysis, the article thinks the objective of financial statement is to satisfy the common requirement of theinformation users. At the same time, the article changes the content and form of the financial statement mode. The article thinks the balance sheet should change into the capital-equity sheet, disclose the stakeholders' property rights; change the income statement into value-added statement, disclose the formation and distribution of the value-added profit, and discuss the manners of dealing with business transaction.