Non-recurring Profit And Loss Information Disclosure Of Listed Companies In China The Regulatory Effectiveness Research

In order to improve the quality of listed companies'surplus information, the China's Securities Regulatory Commission defines non-recurring profit and loss in many financing regulations and disclosure specifications. In the process of disclosing non-recurring gains and losses, there are many misstatements, omissions and earnings management. Listed companies deliberately manipulate the non-recurring profit and loss statements to adjust profits, seriously endanger the company's continuity and stability, also undermine the interests of investors, and create some adverse consequences.Based on the fact, the article analysis defines and projects of non-recurring gains and losses, and explains the reason why the Commission discloses non-recurring gains and losses under the use of basic accounting theory. With changes in accounting standards and specific market background, the article analysis the evolution and compare the different periods of non-recurring gain or loss policy. In the part of empirical research, the author analysis the relationships of the price and two indicators, after deducting the irregular profit and loss of earnings per share and net profit after non-recurring net return on assets, of A-share listed companies in order to get the information content of non-recurring gains and losses. Through comparing and anglicizing the value relevance differences of company profit after deducting non-recurring gains and losses, the article verify whether the disclosure of the new policy substantially improve the decision usefulness of accounting information. Finally, based on the analysis and empirical findings, the author put forward relevant measures and suggestions.This policy of non-recurring gains and losses reflected in the disclosure of the contribution of two aspects:The contribution research on the policy of non-recurring gains and losses is reflected in two aspects:1. Through reviewing the revised policy evolved over the years of non-recurring gains and losses, the article compare different period's policies, provide reference for future policy study.2.Under empirical study, the article compare the policies of non-recurring gains and losses issued by China Securities Regulatory Commission and verify whether the disclosure of the new policy substantially improve the decision usefulness of accounting information, for non-recurring gains and losses of the disclosure providing a theoretical basis.