On The Improvement Of China's Listed Companies' Financial Reports

The financial report is the core of financial accounting and the main manner of information disclosure for enterprises. It has played an important role in strengthening information exchange between an enterprise and its outside, developing capital market and improving resources allocation. According to modern enterprise theories, an enterprise is the connection of a series of contracts, in which the investors, creditors, managers and others that have relevant interest with the enterprise generally have information asymmetry. Thus the financial report becomes the very important "bridge" for them to communicate with each other. It helps the information users predict future cash flow and risk level of the company so that they can make sufficient evaluation on it by providing them information relevant to decision-making. The more relevant, reliable, sufficient and timely the information disclosure is, the more useful the financial report is in eliminating information asymmetry, improving resources allocation and increasing the efficiency of the capital market.Just as what professor Chatfield. M has written in his book "A History of Accounting Thought ", the development of accounting is reactive. That is to say, accounting develops according to the needs of commerce in a period and has close connection with the development of economy. And that is exactly how the modern mode of financial report comes into being.By accommodating to economic environment and satisfying the wants of the information users continuously, the financial report has developed from a lonely balance sheet to a report system consisting of the balance sheet, income statement, cash-flow statement, footnotes and other financial reports and now a fourth statement—comprehensive income statement has been produced recently. However it's also because of the same "reactive" character, with the coming of information times, the modern financial report developed from industrial ages is now strongly criticized by informationusers who blamed that it has not provided valuable information and accounting information is losing correlation.In order to accommodate to the new economic environment, the content and format of financial report cannot but be developed and reformed constantly. Based on the above, the author discussed relevant problems with the listed companies of our country in hope of helping improve accounting practice and playing a revelatory part in the way of reforming the financial report of our country.This dissertation mainly adopts the normative research method. On the basis of contrasting, analyzing and evaluating a great lot of relative literatures, the author designed a conceptual framework about financial report of the listed companies, which is the theory basis of financial reporting reformation. After probing into the impacts upon modern financial report system produced by the new economic environment and the inherent problems in the listed company's financial report, the dissertation brings forward corresponding improvement suggestions and opinions on modern financial report system. The main body of this dissertation consists of four parts:The first part is the conceptual framework of financial report and its development. The dissertation expatiates financial report objective, characters of information quality, recognition basis and measurement properties respectively and designs the conceptual framework of financial report for listed companies. The second part is the impacts upon modern financial report system. The dissertation analyzes briefly the impacts upon the contents and formation of financial report under the new economic environment.The third part is the problems in the financial report system of listed companies of our country. This part dissertates the problems in modern balance sheet, income statement, footnotes, other financial reports and internet financial report.The fourth part is the improvement measures on financial report of limited companies. Aiming at problems in financial report mentioned above and based onthe conceptua...