| The high quality of accounting standards is the premise for improving the usefulness of accounting information.In February 2006,the ministry of finance issued enterprise accounting standard guidelines for 2006 - intangible assets.The new rules of intangible assets were revised on the definition,accounting process and disclosure requirements etc.This paper tests under new rules of intangible assets whether the accounting information more accurately reflect the value of intangible assets;under the new criteria framework whether the disclosure information of intangible assets is remarkably enhance the usefulness of accounting information.From this perspective,this paper has certain practical significance.Firstly,by using Ohlson model,we test data gathered in annual report of China A-share listed companies from 2005 to 2007 and the result of empirical research show that overall the usefulness of accounting information is getting improved in recent years,.Then,in contrast to enlarge the effect to the usefulness of accounting information brought by new rule of intangible asset,we creatively design group test to eliminate other effect to the usefulness of accounting except intangible assets.Finally,after adjusting Ohlson model to suit the purpose,we test the data of samples for showing the influence to the usefulness of accounting information brought by new rule of intangible asset.We found that:1,During the year of 2005-2007 the usefulness of accounting information in China is getting improved steadily;2,The new accounting standards promulgated for implementation improve the usefulness of the accounting information,but the effect to the usefulness of accounting information brought by new rule of intangible asset is not obvious;3,The disclosure of R&D information is firstly include in the disclosure rule of accounting,but the implementation of listed companies is far from satisfaction and investors don't pay any special attention. |
