The Research Of Improvement And Perfection Of The Corporate Debt Restructuring Standards In China

According to the macro economic data released by the National Bureau ofstatistics in August,2014, China’s economic growth has being in a slowdown, whichwould be an economy shift period. Through nearly twenty years of development oflocalization and internationalization, the market in China has a graduallystandardization. Capital market also plays a greater influence on enterprises. At thesame time, a short-term direction error or other factors, will inevitably lead themselvesto the poor financial situation. At this time, the financial pressure from the upstream anddownstream partners, especially the creditor repayment pressure will seriously affect thenormal operation of the debtor and that would definitely increase the risk. To solve thisproblem, debt restructuring could not be bad. It can relieve the debtor enterpriserepayment pressure, and it can improve corporate creditors’ debt structure. And that willeventually improve the overall economic efficiency of both sides’ valuable assetsChina’s corporate debt restructuring accounting standards in less than ten years,has been three revisions. Each standard had its inevitability, and each revision hadhistorical progress. However there were some economic conditions limitations in themarket or standards themselves did not match the market conditions. So this situationdirectly leads to a large deviation from the expectations. The article focuses on theaccounting standard for enterprises No.12th issued in2006--debt restructuring. Itsappearance closed a combination of China’s specific conditions and market conditions.But because the standard applications’ scope of space had ambiguity and did notconsider the time value of the non cash assets, and the blank area of the system hadbecome the new standard defects. And that would let the enterprise manipulate profitthrough the corporate debt restructuring. In the view of this situation, I agree that themarkets need the functional departments as a whole package. And the statement of cashflow and other comprehensive income should be used to analyze the business profitpattern.The article contains the research background, literature review and the researchmethods and ideas for further researches. Then I will introduced some basic theoriesrelated to the field, and summarized the relevant research results and lawprovisions. Then I made a comparison of the western and the eastern researches of thedebt restructuring accounting standard. And I focused on the formulation and revisionof debt restructuring accounting standards according to the time order to launch the introduction. Then I used typical cases to support the analysis of the present situationand problems. After that, I gave some suggestions to improve the debt restructuringstandards. In the end, there will be the limitations of the study and prospect of thetheory analysis.