Research On The Impact Of Financial Instruments Accounting Standards Revision On Securities Companies

After the financial crisis in 2008,the controversy surrounding IAS39 increased,and all sectors of society generally believed that the fatal flaws in international financial instruments accounting standards were an important cause of the financial crisis.In response,the Intermational Accounting Standards Board responded positively,the full version of IFRS9 was officially released by it in July 2014,which is a revision of IAS39.On March 31,2017,China's Ministry of Finance officially issued the "Accounting Standards for Business Enterprises No.22-Recognition and Measurement of Financial Instruments" with reference to IFRS9.The revision of accounting standards for financial instruments mainly involves the classification,measurement and impairment of financial assets.Financial assets account for a large proportion of the asset structure of securities companies in China.Therefore,for securities companies,the impact of the revision of accounting standards for financial instruments cannot be underestimated,timely research and correct analysis of the revision of the standards have important practical signifieance for the development of securities companies.Against this background,this paper studies the impact of the revision of accounting standards for financial instruments on securities companies.This paper focuses on normative research methods and questionnaires.Firstly,it studies the revisions related to financial assets in the new financial instrument accounting standards,and then selects 10 domestic A+H-listed securities companies,based on their 2017 annual reports,this paper makes theoretical analysis of the impact of the revision of financial instrument accounting standards on China's securities companies,and the results of the questionnaire survey of 32 securities companies were used as actual evidence to verify the results of the analysis,and finally,from the three perspectives of securities companies,securities industry associations and finance bureaus,implementation measures and improvement suggestions were put forward.The specific content of this article includes five parts:The first part is the introduction of the whole thesis.This part introduces the background of the research,the significance,the content,the methods and the innovative viewpoints of the thesis as a whole,and summarizes and reviews related research at home and abroad.The second part is about the main content of the revision of the accounting standards for financial instruments.This section details the revisions of the accounting standards for financial instruments in terms of classification,measurement and impairment,and compares them with the old standards.The third part is about the theoretical analysis of the impact of financial instrument accounting standards revision on securities companies.This section selects 10 domestic A+H-listed securities companies,based on their 2017 annual reports,this paper analyzes the changes of 10 securities companies before and after the implementation of the new standards,and theoretically analyzed the impact of the revision of financial instrument accounting standards on China's securities companies.The fourth part is about the actual evidence of the impact of the revision of financial instrument accounting standards on securities companies.This section conducts statistics on the results of relevant questionnaires,and uses the statistical results as a realistic evidence to verify the theoretical analysis of the difficulties and adverse effects faced by securities companies.The fifth part is about the implementation measures and improvement suggestions.This part addresses the difficulties and negative impacts of the revision of financial instrument accounting standards to securities companies.The implementation measures and policy recommendations are proposed from the perspectives of securities companies,securities industry associations and finance bureaus,There are three main points in the innovation of this paper:Firstly,this paper follows the latest developments and achievements of the Financial Instruments Accounting Standards,studies the impact of the revision on China's securities companies and how to deal with the new standards,so the topics are cutting-edge;Secondly,at this stage,with the release of new financial instrument accounting standards,more and more scholars have begun to pay attention to the impact of the revision of financial instruments accounting standards.However,most of the articles are limited to the level of theoretical research,and there are few validated studies the impact on the revision of the standards.This paper not only theoretically analyzes the impact of the revision of financial instrument accounting standards on China's securities companies,but also validates the analysis results with the results of the questionnaires of 32 securities companies,making the analysis and countermeasures of this paper more convincing.Thirdly,most of the existing research on the revision of accounting standards for new financial instruments ouly involves the impact of the new standard,few documents have put forward specific countermeasures for the impact.This paper analyzes the favorable impacts and difficulties and adverse effects of the revision of accounting standards for financial instruments,and proposes countermeasures for the difficulties and adverse effects,which has certain innovation.