Research On The Information Elements Of Accounting Statements Notes-Based On The Perspective Of New Accounting Principles

Accouting as a set of information system has the goal that procucts information and reports it, investors interested in the area of investment will lead to their increasing concern about the disclosure of information. Today, financial reports are the important content for the disclosure of listed companies,balance sheet, income statement and cash flow statements explain well about the financial situation, results of operations and cash flow information for the users. However, as the supplementary information accounting statements notes are playing more and more important role– they can provide more reliable and adequate financial information for the information users about the corresponding specific items. We start our study from the accounting statements notes disclosure of financial reports.So, how to measure the financial information? This thesis is based on Zhang Tianxi’s(2006) financial information elements theory. First, objectives of financial reporting are the first step we should think over, because they determine the direction of accounting development. Qualitative characteristics of accounting information make some standards about the quantity and quality of accounting information. Thinking about these two aspects, the author analyzes the importance and necessity about the disclosure of accounting statements notes. At the same time, in order to explore elements of the financial information in accordance with the theory, the thesis is not only based on the accounting theory considerations, but also from linguistics, chemistry, mathematics and so on, trying to find some theoretical for financial information element theory. The thesis also analyzes the structure, type, quality and characteristics of financial information.After determining the standard measure of financial information, we did an empirical research on the accounting statements notes of listed companies in China, trying to find some relationships between the quality of accounting statements item notes and some characteristics of the listed companies. Therefore, we select some companies belonging to manufacturing industry in Shanghai Stock Exchange, and analyzes the semi-annual accounting statements.The result shows that there is significant positive correlation between the quality of accounting statements notes and their assets about listed companies. And there is negative correlation between the quality and the proportion of the first big shareholder which is consistent with the previous research. If company has larger scale and it should have more information. But for higher proportion of share holders, it should have less information disclosure. Because shareholders can get more information through internal channel, listed companies have less pressure on disclosure. There are some limitations for the empirical testing. For example, the sample is only related to manufacturing industry and the non-audited semi-annual as well.Therefore, the future study can be expanded on the basis of sample volume, and select the Annual Report of the Notes.Internationally, XBRL financial report is becoming a popular form of financial report, it is used widely in some developed countries. XBRL taxonomy needs to standardize the definition of the elements in advance. Therefore, we continue to discuss the elements in the development of XBRL and analyze the same and different sides between financial information element and the elements in XBRL taxonomy. In addition, the paper also shows some standard suggestions about the disclosure of financial information element.