Impact Of Revision Of Financial Standards On Financial Reporting Of Commercial Banks

The outbreak of the financial crisis in 2008 directly promoted the change of accounting standards for international financial instruments.In 2017,the revision of China’s financial instrument accounting standards was another measure that converges with the international financial instruments accounting standards.The revision of accounting standards for financial instruments not only involves changes in accounting treatment,but also has a huge impact on business performance and business practices.Since commercial banks mainly generate income through the operation of financial assets,the revision of the financial instrument standards will erode the profits of commercial banks to a certain extent,but the net profit of ICBC increased in 2018 year-on-year.Therefore,this paper selects ICBC as the case object and analyzes the financial instrument criteria.Revise the impact on the business conduct of commercial banks.In addition,ICBC,which has a leading profitability for years,is a benchmark in commercial banks,so the case object has industry representation.The core question in this paper is:What are the changes in the revised guidelines for financial instrument standards?The impact of the revision of the Financial Instruments Standards on the business performance of ICBC and the extent of its impact?What kind of business behavior does commercial banks take to deal with the changes brought about by the revision of the financial instrument standards?What are the implications of these business practices for other commercial banks?The research idea of this paper is:starting from the main changes in the revision of financial instrument standards,firstly analyzing the resulting changes in the performance of ICBC,and secondly comparing with the actual performance of ICBC in 2018,how to adjust the operation of ICBC The behavior leads to the difference between its theoretical and actual business performance.Then,the change of business behavior is largely due to the impact of the revision of the financial instrument standard on the business behavior of commercial banks.The research findings of this paper are as follows:First,the changes in the measurement of equity investment in the measurement of financial instrument criteria have little effect on the business conduct of commercial banks;secondly,the new taxonomy leads to substantial changes in the subsequent measurement of financial assets,but these changes The impact on business practices has not yet fully manifested.Finally,changes in the impairment model in the revision of the Financial Instruments Standards will result in changes in commercial banks’ following business practices:expanding loan scale,optimizing loan structure,strengthening debt-side deposit costs,and controlling and promoting sources.Carry out debt-to-equity swap business.The research value and enlightenment significance of this paper:First,before the introduction of the specific operational guidelines for new financial instruments,the core changes of the new financial instrument standards will be sorted out to provide a clear theoretical basis for practical operations.Second,in the context of the revision of financial instrument standards.Whether the core indicators of commercial banks can meet regulatory requirements;third,the combination of the specific business practices of ICBC and the impact of financial instrument standards,indicating the business activities that should be focused on in the future.