Research On Accounting Treatment Of STO Express’s Backdoor Listing

The development of an enterprise requires funds,and the methods of raising funds for enterprises include debt financing and equity financing.However,excessive debt financing firstly increases the pressure on the enterprise to repay interest,increases the asset-liability ratio,and increases financial risks;secondly,the amount of debt financing is too small compared to equity financing,which cannot meet the needs of enterprise development and growth.Listing has become the only way for companies to obtain funds.There are two ways to go public: IPO and backdoor listing.IPOs have higher requirements for companies.It also requires companies to standardize their operations.It is difficult to meet all the rules and regulations.Furthermore,an IPO is a long process,generally taking 3-5 years,which is unbearable for the development of a company.In addition,due to the influence of policies,the state sometimes interrupts IPOs,which is even worse for companies that are more anxious to land in the capital market.Therefore,many companies turn their attention to backdoor listing.At the same time,with the rapid development of my country’s Internet industry in recent years,online shopping has become a mainstream consumption mode,and the express delivery industry has grown rapidly.The state has introduced policies to encourage the express delivery industry to raise funds.Major logistics companies are competing for listing and financing in order to expand their market share.Shentong,Yuantong,Yunda and SF Express have successively landed in the capital market through backdoor methods.Among them,Shentong Express was the first to announce the backdoor listing.There are some problems in the current accounting standards for the accounting treatment of backdoor listing,such as the calculation of merger cost,the confirmation of huge goodwill,and the identification of business,etc.Enterprise accountants may use professional judgment to obtain different accounting treatment for the same business.As a result,users of financial statements are affected to make relevant decisions,and it is necessary to study the accounting treatment of backdoor listing in depth.This paper is divided into six parts.First,it introduces the background and significance of the topic,and summarizes the research at home and abroad.Then it introduces the concepts,theories and accounting standards related to backdoor listing.Introduced the case of Shentong Express’ s backdoor listing of IDC,introduced the background of the case,and then used the equity transaction method and the reverse purchase method to account for the backdoor listing process,analyzed the different accounting consequences of the two,and responded to the The impact of the financial indicators of corporate solvency,profitability,and operating capacity,and analyzed the economic consequences of different accounting treatments on different stakeholders,and finally put forward the shortcomings of accounting standards,and put forward suggestions for improvement,including :Clarify the measurement time of merger costs,introduce corresponding guidelines for the accounting treatment of payment methods other than shares,abolish the equity transaction method,and split the huge amount of goodwill recognized in the reverse purchase method into shell purchase costs With business goodwill,clear definition of business,etc.