Research On The Financial Information Disclosure Of Commonweal Organization Based On Social Responsibility

In recent years, there is a considerable development of public welfare in ourcountry. Common wealth organization provides a good platform for welfare behaviorof the public. However, with the problem of "internal control" and "non-pecuniarycompensation" such as "Guo Meimei event", there is an unprecedented credibilitycrisis, which results in drastically reduction of social donations enthusiasm, evenpublic welfare aversion. The imbalance between information disclosure and demandis widely considered as the reason. At present, common wealth organizations mainlydisclose basic information according to legal requirement, which takes reference of"Non-profit Organization Accounting System". Such information can not reflect towhat extent social responsibility fulfilled. This article researches the informationdisclosure of common wealth organization, and innovatively puts forward thefinancial information disclosure theory of common wealth organizations, which focuson designing financial information to satisfy the demand of stakeholders. Thisresearch is beneficial to establish stakeholder co-governance, stimulate enthusiasm ofsocial donations, shape a fine public welfare ecological, and lead a sustainabledevelopment. It is also beneficial to the third equitable distribution of social wealth.Based on property rights theory, stakeholder theory and asymmetric informationtheory, this article analyzes the importance and particularity of common wealthorganization financial information disclosure. Next, this paper discusses the supplyand demand of financial information from theoretical and empirical aspects. In thecore section, we design financial information disclosure content. Finally, we putforward suggestions on how to improve present situation, which includes soundaccounting standards, establish disclosure form based on XBRL, and carrying out newaudit model. There are two innovations in this paper. First, we puts forward socialresponsibility model from financial aspect, then design financial information fromupward social responsibility, downward social responsibility, cost controlresponsibility and investment management responsibility. Second, this paper utilizesthe method of questionnaire survey form, which could enhance persuasion.