Application Study On JX Insurance Asset Management Company Of New Financial Instrument Standard

In March of 2017,the Ministry of Finance published China Accounting Standards No.22: Business Enterprises--Recognition and Measurement of Financial Instruments(hereinafter referred to as New Accounting Standards of Financial Instruments or New Standards)and two other standards to realize consistency with International Financial Reporting Standard 9-Financial Instruments.According to Notice on Related Interim Measures for Insurance Company to Carry out Related New Accounting Standards of Financial Instruments of the Ministry of Finance,the insurance companies and insurance asset management companies will carry out new accounting standards of financial instruments successively since 2018.Implementation of new accounting standards is not only the work of financial personnel but also involves the whole investment processes of investment business,risk evaluation and valuation,which further affects the internal management of company and has higher requirement on business management system,business process and IT system,therefore,implementation of new accounting standards is of great significance and influence on enhancing investment accounting and internal management ability of company.Based on the implementation background of new accounting standards of financial instruments,this paper combines with characteristics of insurance capital application and supervision to conduct theoretical discussion and case study on JX Insurance Asset Management Company in application of new accounting standards of financial instruments,the main contents are as follows:?.Conduct summary analysis on related theories of new accounting standards of financial instrumentsBased on summary description on new accounting standards,this paper analyzes the key contents of new accounting standards,expounds the classification and measurement of financial assets,solely payments of principal and interest & business mode evaluation as well as the valuation and depreciation of financial asset.?.Analyze the influence of application of new accounting standards of financial instruments on insurance capital accountingBased on the chronicity and safety characteristics of insurance capital application,combined with description on supervision proportion,corporate governance,internal control and risk management requirement as well as new accounting standards,this paper mainly analyzes the influencing factors of insurance capital in financial asset classification,valuation and depreciation,points out the insufficiency in investment accounting based on new accounting standards and reflects the influence of it on actual investment accounting process.?.Take JX Insurance Asset Management Company as an example to conduct empirical research on application of new accounting standards of financial instrumentsBased on accounting research on JX Insurance Asset Management Company by aid of new accounting standards,this paper establishes characteristic test on contract-based cash flow,business mode,valuation and depreciation models,optimizes and adjusts the investment accounting process to satisfy the requirements of new accounting standards and insurance capital application.Meanwhile,it compares actual measurement data with existing accounting standards to specifically reflect the influence of application of new accounting standards on asset,profit and dividend policy of insurance company.?.Propose suggestions on application of new accounting standards in insurance capitalThis paper conducts SWOT analysis on application of new accounting standards on JX Insurance Asset Management Company to point out the opportunity and challenge,proposes specific suggestions from aspects of investment strategy,risk management,system preparation and personnel training,and make preparations for application of new accounting standards.Finally,the paper analyzes research insufficiencies and makes prospect on the application of new accounting standards of financial instruments in insurance companies.