The Study Of Accounting Policy Choice For Agricultural Listed Companies

Since the late 1970 s in the late 30 years, China’s accounting policies have gone from the simple to the more comprehensive development process. In the process from scratch, China’s accounting policies are becoming more scientific, systematic and standardized, and on the basis of China’s national conditions and adapt to the gradual convergence with the international. With the development of economy, China’s accounting standards and policies develop constantly, and listed companies get more rights in accounting policy choice. Study of accounting policy choice for listed companies is important to regulate the capital market. In China the study of accounting policy choice for listed companies starts late, and relatively less on special industry. Our country is a large agricultural country, agriculture listed company represents senior agricultural production power on present stage and becomes the important form of fulfillment of agricultural property administration. In addition, agriculture industry has long investment cycle and low profit margins, so the overall performance of agricultural listed companies is poor. For the purpose of earnings management, many agricultural listed companies make full use of the accounting policy choices. Therefore, research on accounting policy choice of agricultural listed companies has great theoretical and practical significance.Firstly we sort out related concepts of accounting policy choice, and then discuss the motivation of the accounting policies, affecting factors and economic consequences theory, and then we analyze the accounting characteristics of agriculture listed company. On this basis, we select 37 agriculture listed companies as a sample, using 2011-2013 annual report data of the sample, and make descriptive analysis on the sample in the method of inventory valuation, depreciation of productive biological assets and the impairment of biological assets. We analyze the characteristics of their accounting policy choices, and find some problems in the accounting policy choice of agricultural listed companies. We analyze the internal and external reasons for these problems, and finally put forward some measures and suggestions including:(1)By optimizing the ownership structure, improving the independent director system, clearing function of the board of supervisors, establishing internal audit committee system, to improve agricultural listed companies internal governance structure;(2)By strengthening the research of agricultural accounting policy, improving agriculture accounting standards,to further narrow the space of agricultural accounting policy choice;(3)By improving the comprehensive quality of the agricultural accounting practitioners, to improve the rationality of accounting policy choice;(4)By improving the CPA audit quality, strengthening the supervision of the securities market, to strengthen the external supervision system of accounting policy choice.The main contribution of this paper is that it uses descriptive statistics and comparative analysis to analyze the accounting policy choice of agricultural listed companies. On one hand, it reflects the implementation effect of accounting standards on agricultural listed companies and the imperfect place, makes the combination of accounting theory and accounting practice; on the other hand, it analyzes the problems in the accounting policy choice of agricultural listed companies and gives some proposals for improvement.