Research On The Impact Of New Financial Instruments Accounting Standards On The Financial Report Of Commercial Banks

After the impact of the 2008 financial crisis on the financial market exposed such problems as the large randomness of the current classification of financial instruments,the untimely and insufficient provision of impairment of financial assets such as loans by relevant enterprises,and the disconnection between the provisions of hedge accounting standards and the practice of enterprise risk management,people pay more and more attention to the revision of financial instruments standards in order to develop a higher quality and unified financial industry Have rules to avoid risks.In order to promote the development of China's economic globalization,China's accounting standards for enterprises have gradually made a smooth transition to the international accounting standards.The Ministry of finance has revised the corresponding financial instrument standards based on the actual development of China's financial instruments,and issued the "new financial instrument standards" in 2017.According to the requirements,the new financial instrument standards officially entered into the implementation stage after 2018.Enterprises listed at home and abroad and enterprises listed abroad and using international financial reporting standards or enterprise accounting standards to prepare financial reports shall be implemented as of January 1,2018;other domestic listed enterprises shall be implemented as of January 1,2019;non-listed enterprises shall be implemented as of January 1,2021.Most of the assets of commercial banks in China belong to financial assets,so the new financial instrument standard will have a more profound and extensive impact on commercial banks.Therefore,based on this background,this paper studies the revision history of financial instrument standards,analyzes the specific differences between the old and new financial instrument standards,studies the main changes of the new standards,and introduces the industry profile of 28 listed banks after the implementation of the new standards.At the same time,through the data comparison before and after the implementation of the new standards,it analyzes the impact of the implementation of the new standards on all aspects of the banking industry.The focus will be on the impact of the new financial instruments accounting standards on bank financial reporting and earnings management.Based on the case study of Agricultural Bank of China and China Merchants Bank which are China's large state-owned banks and joint-stock banks respectively,as a representative of China's commercial banks,this paper sums up the implementation of the new financial standards of the two banks,analyzes the impact of the new financial instruments standards on financial reporting and earnings management qualitatively and quantitatively according to the latest financial data of after the implementation of the new standards,and then puts forward how to better implement the new financial instruments standards for China's banking industry suggestion.