The Research For Commodity Futures Provisional Regulations’s Influence On Steel Industry

Risk aversion and price discovery is the two big functions of the futures market.But in recent years,as commodity price volatility is becoming more and more intense,more companies involved in commodity futures hedging operations,the enterprise generally reflect the current guidelines no.24 of hedging accounting and enterprise risk management activities,the application of the threshold is high,the separation resulting in futures profit and loss can’t spot and implementation to changes in fair value hedge,the enthusiasm of the commodity futures hedging business affected by a certain,which may affect the futures market development and the status of our country in the world commodity pricing power.In order to promote the healthy development of the commodity futures market in our country,the ministry of finance on November 26,2015 issued the interim provisions on commodity futures hedging business accounting.However,the issue of provisional regulations can effectively solve the hedging accounting and enterprise risk management activities,the application of the threshold high the separation problem? Relative to the 24 th criterion,the interim provisions on the hedging business practices have any impact on iron and steel enterprises? Enterprises in the application of the "interim provisions on a hedging activities appeared what problem? Is worth in-depth study.This article adopts the method of theory combining with practice,to study the problem from the following aspects.First of all,based on the theory of commodity futures hedging theory as the research and the reform of the accounting standards and so on;Secondly,on the 24 th criterion and the "interim provisions",this paper compares and analyzes expounds the interim provisions on the principles of 24 improvement;Again,study the promulgation of the "interim provisions" of the impact of the steel industry in our country,in the "interim provisions" and hedging accounting on the basis of elaborating the basic theory,analysis of the "interim provisions" specification of hedging accounting application in Z company;Finally,the combination of Z company hedging business practice,this paper combed the enterprises in the application of hedging business how to specify a hedged item,evaluate the effectiveness of the hedging relationship and accounting problems,the concrete analysis of the interim provisions on its influence on China’s steel industry.Summarizes the full text,this paper get the following conclusion: the promulgation of the "interim provisions" effectively solves the application rule of 24 high threshold,complexity,largely to guide the practice of hedging operations,improve the actual operational hedging accounting,has a guiding significance on hedging business;Help to iron and steel enterprises to evade risk of price fluctuations;Enterprise application "interim provisions" and a series of problems,such as risk assessment and risk control methods,the hedging accounting information disclosure is not standard,etc.On this basis,this paper puts forward three countermeasures,including enterprises should strengthen risk management and control,regulators should strengthen on derivatives disclosure regulation of listed companies,deepen the financial personnel to the understanding of the "interim provisions" and so on.