Research On State-owned Capital Accounting

State-owned assets include profitable state-owned assets and non-profitable state-owned assets, which increasingly play an important part in Chinese economic construction, and the stability, sustainable development and harmonious development of society. Especially profitable state-owned assets——corresponding source of funds is state-owned capital, whose operations will influence the reserves of funds for construction and development of state. Therefore, strengthening administration of state-owned capital has very important significance.The founding of State-owned Assets Supervision and Administration Commission of the State Council shows that the separate operation of state-owned capital owns supervisor and administrator; the debut of《the State Council's suggestions about trial implementation of State-owned Assets Operation Budget》expresses that the separate operation of state-owned capital and its administration enter into substance; the introduction of《Provisional Administrative Regulations for Collecting State-owned Capital Gains in Enterprises Directly under the Central Authority》indicates that the times of state-owned enterprises distributing profits to investors is coming; the enaction of《Law of the People's Republic of China on the Enterprises'State-owned Assets》states that the standardization and protection of business activities such as state-owned assets operation have risen to the level of laws. These statues focus on important events and act associated with state-owned assets such as transfer and supervision of state-owned assets, organizations performing the functions as investors, enterprises invested by state and its administrators, state-owned capital operation budget, process of collecting state-owned capital gains, etc. However, there is no a specific accounting system to reflect and supervise implementation of state-owned capital operation budget, operation of state-owned capital, collection of state-owned capital gains, value fluctuation of state-owned property right performing by state-owned assets, etc. In such a situation, a complete accounting system should be established to calculate, reflect, supervise and disclose implementation of state-owned capital operation budget, process of state-owned capital operation, performance of state-owned capital operation, state-owned capital operation gains and allocation of state-owned capital operation gains, etc. Consequently, a suggestion to establish state-owned capital accounting system is put forward.According to state finance theory, investor finance and operator finance theory, property right theory and principal-agent theory, this dissertation mainly researches on the general situation of state-owned capital accounting, state-owned capital accounting system, fundamental theory and accounting theory of state-owned capital accounting against above realistic background. Then, draw main viewpoints and conclusions as follows.(1)state-owned capital accounting has three attributes including property right accounting, capital operation accounting and budget accounting; state-owned capital accounting originates from public finance budgetary accounting, both will reflect and supervise a few common funds movements from different directions after separation of state-owned capital accounting from public finance budgetary accounting.(2)state-owned capital accounting has three branches: state-owned capital property right accounting, state-owned capital operation budget accounting, state-owned capital operation accounting, these branches are internal divisions of state-owned capital accounting; state-owned capital accounting is a branch of government accounting, which is in parallel with public finance budgetary accounting and belongs to government accounting reform.(3)The macroscopic goal of state-owned capital accounting is to reflect operation of state-owned capital and rationality of allocation of operating performance, while its objective at the microscopic level is the transparency in contract for operation of state-owned capital property right, and its specific aims are in accordance with three branches; the accounting preconditions for state-owned capital accounting include clear delimitation of state-owned capital property right and legality and scientificity of assessment process of state-owned capital property right besides four accounting assumptions——accounting entity assumption, going-concern assumption, time-period assumption and unit-of-measure assumption; state-owned capital accounting has double accounting entity——state-owned assets supervision and administration commission and state-owned capital operation company; function of state-owned capital accounting is an accounting intermediary for state-owned capital, that is to say, to coordinate, communicate with and understand all stakeholders arising from property right of state-owned capital; state-owned capital accounting objects are process and results of property right value movement of state-owned capital as well as embodied economic relationship of state-owned capital property right; two recognition bases(including accrual basis and cash basis) are embodied in state-owned capital accounting; state-owned capital accounting chooses fair value as its measurement attribute; the most basic qualitative characteristics of state-owned capital accounting information is the impartiality,which is the same as enterprise accounting.(4)state-owned capital accounting reporting system includes execution statement of state-owned capital operation budget and its instructions sheet, property right statement of state-owned capital and its instructions sheet, profit and allocation statement of state-owned capital operation, statement of state-owned assets and state-owned liabilities and cash flow statement of state-owned capital operation; property right registration system of state-owned assets is the preliminary form of state-owned capital property right accounting; the implementation of state-owned capital accounting depends on the standardization of state-owned capital operation budget execution and clear delimitation in duty and responsibility between state-owned assets supervision and administration committee and sector of public finance.The innovative points lie in:(1)it suggests that state-owned capital accounting should be separated from public finance budgetary accounting system to be a branch of government accounting in parallel with public finance budgetary accounting.(2)it puts forward a suggestion to establish state-owned capital accounting system; it points out that construction of state-owned capital accounting system is an important part of government accounting reform; it divides state-owned capital accounting into three branches——state-owned capital property right accounting, state-owned capital operation budget accounting and state-owned capital operation accounting, namely, three branches are internal divisions of state-owned capital accounting; it arranges the relationship between three branches and state-owned assets supervision and administration system.(2)it delimitates double accounting entity of state-owned capital accounting (state-owned assets supervision and administration commission and state-owned capital operation company) and two other accounting preconditions (clear delimitation of state-owned capital property right and legality and scientificity of assessment process of state-owned capital property right) besides four accounting assumptions; it regards state-owned assets property right registration system performing by single account bookkeeping as the preliminary form of state-owned capital property right accounting.