Research On The Information Disclosure Of CNPC Asset Retirement Obligation

General Secretary Xi Jinping proposed at the 19 th National Congress that "green water and green mountains are the golden mountains and silver mountains".This slogan has been heard throughout the motherland’s south and north.Co-evolution has become the value orientation of the socialist ecological civilization with Chinese characteristics.Most of the environmental damage mainly comes from the mining,production and other activities of the enterprise.Based on the principle of who destroys and repairs,the enterprise should take the initiative to bear the responsibility of environmental restoration and social responsibility.There are some companies that do not confirm and do not disclose asset retirement obligations,and the proportion of disclosure and the level of disclosure vary greatly between industries.Enterprises ignore the environmental damage caused by themselves,so that the ecological and environmental problems cannot be solved in a timely manner,thereby limiting the long-term development of China’s economy,so it is very necessary to study the disclosure of asset retirement obligations.Among the sample companies in the mining industry,CAPC’s disclosure level is far above the industry average.Its disclosures on the increase and decrease of the amount of asset retirement obligations,the capitalized book value,and the increased financial expenses are more detailed,but there are still great improvements.space.The data of CNPC from 2012 to 2018 was selected for analysis,and it was found that the disclosure content was not complete,the location was not centralized,the form was not standardized,and the accounting treatment was limited,and these problems were universal in the industry.Therefore,in order to improve the disclosure of CNPC’s asset retirement obligations information,in light of the problems in thedisclosure,the company,the government and the regulatory body have put forward perfect proposals to improve financial performance,improve governance structure,improve accounting standards and strengthen supervision,And established an asset retirement obligation disclosure system.Finally,it is hoped that through the research on the disclosure of information on asset retirement obligations of CNPC,it can provide some new ideas for other companies to carry out information disclosure on asset retirement obligations,and promote enterprises to increase environmental protection responsibilities and social responsibilities,thereby promoting the green development of China’s economy.