Research On Goodwill Impairment Of Traditional Manufacturing Mergers And Acquisitions From The Perspective Of Industrial Transformation

At present,China is in the core period of economic transformation,the main task is to optimize the industrial structure,achieve sustainable development,for enterprises opportunities and challenges coexist,this task is in line with the development needs of emerging economies,but also indirectly reflects China's enterprise management in the field of some of the changes made.In this environment,China has gradually set off a wave of mergers and acquisitions,many listed enterprises have carried out mergers and acquisitions restructuring activities,hoping to promote the transformation of enterprises in this way,adapt to the new development environment,improve their competitiveness,driven by this wave,many traditional industry enterprises have followed the practice of listed enterprises,The target enterprises are sought to achieve a win-win situation,in many traditional industry enterprises,but also to the traditional manufacturing industry as a typical representative.With the implementation of a series of incentives,as well as the capital market to promote mergers and acquisitions between the mergerand and reorganization continued to rise,the rapid growth of corporate valuation,in this case,the listed companies' book goodwill also increased,mergers and acquisitions to a certain extent caused by the goodwill premium,with the merger and acquisition boom cooling,Enterprises may face serious goodwill impairment problems,first of all,large-scale goodwill impairment will bring great impact on the net profit of enterprises,and may even cause losses,affecting the normal operation of enterprises.Secondly,as far as motivation is concerned,some enterprises are good at drilling holes and using the shortcomings of goodwill impairment standards to carry out earnings management,the direct result of this practice is that the financial statements do not truly reflect the situation of the enterprise,users are difficult to use the financial statements to understand the real information.In summary,it is necessary to carry out in-depth analysis and research on the issue of goodwill impairment of enterprises.This paper collects and collates the relevant research results,on this basis,the typical case of the traditional manufacturing industry goodwill accounting standards,merger goodwill huge impairment,high premium mergers and acquisitions,transformation measures and motivations,etc.,a systematic analysis,pointing out some problems at this stage,And combined with the current situation of the industry put forward a number of targeted solutions and measures.This paper first of all,the goodwill and merger and reorganization of enterprises are described in detail,providing a basis for the development of the thesis.Then the high goodwill status quo after the transformation and upgrading of the manufacturing industry is expounded,and finally the impact of the merger goodwill is discussed through the actual case study of the acquisition of Yantai Weibank by Santai.The results show that in the process of merger and reorganization,traditional manufacturing industry tends to prefer the choice of Internet companies,but there are many uncertainties in the valuation of such enterprises,if the initial valuation is high,it is likely to lead to a large impairment of goodwill after the merger and reorganization,generally speaking,there are many factors of the impact of high-premium mergers and acquisitions.Such as the payment and identification of identifiable net assets,the evaluation of the underlying assets,etc.,in the process of follow-up measurement,because the enterprise accounting standards do not have detailed,specific asset group classification criteria,therefore,may indirectly cause the corporate goodwill impairment.In addition,the regulatory authorities also did not play their due role,inadequate supervision,resulting in enterprises can take advantage of the way to achieve corporate earnings management through goodwill impairment.To sum up,in the present article,the initial recognition of corporate goodwill should be given sufficient attention,and then combined with the actual acquisition of the net assets and the underlying assets to develop specific standards,and then the follow-up measurement process of goodwill to appropriately simplify,recommendthe implementation of impairment and amortization parallel model,further strengthen supervision and management.As far as information disclosure is concerned,the contents of information disclosure should be refined,the information disclosure requirements should be improved,and the penalty mechanism should be established.