Research On Earnings Management In Debt Restructuring

In the environment of market economy, the listed companies grow and drive the economy of our country gradually.The external financial report of listed companies is the important indix for attracting investors. Some listed companiesespecially the listed company with losses, in order to "beautify" the financial report with a series of measures carry out the behavior of managing earnings. Accounting standards in 2006 stipulated the debt restructuring gains and losses accounted for as non-operating income and expenses, which makes the listed company open up a new road of managing earnings. The China securities regulatory commission has added special processing system by special treatment to "ST" before the shares in the company,Which will face the risk of delisting if Loss continue to occur. How to carry out managing earnings of listed companies to avoid delisting became something that concerned about the focus of managers. Through combining normative research and case analysis this paper makes an example as "shandong jintai", analyzing the ST listed companies with debt restructuring by earnings management behavior.On this basis, I put forward some suggestions for the accounting standards and the listed companies and regulators to perfect our country’s policies and regulations and accounting standards as the basis in this paper. Debt restructuring is one common means of reducing losses for most listed company,so under the opportunities of 2006 new debt restructuring standards,whether ST companies used the means to achieve profitability or not? On this basis, the paper has made comments and suggestions of monitoring ST companies and earnings management based on guidelines for debt restructuring,helping to improve our market regulation and accounting standards,thus constrained earnings management behavior.The article is divided into five parts, the first chapter is introduction, mainly introduced the selection background, meaning and purpose in this thesis, and explain which was reviewed at home and abroad; The second part and the third part mainly introduce debt restructuring and earnings management related theory;The fourth part is introduced with the examples of shandong jintai analyzing the ST listed company how to use debt restructuring by earnings management to avoid delisting smoothly on the basis of theory; In the last part of the article put forward the corresponding research conclusions and policy suggestion.