Research On The Impact And Economic Consequences Of New Debt Restructuring Standards

With the continuous changes and development of the market,the number of listed companies in China continues to increase.Faced with the increasingly fierce market,some enterprises,due to poor management,have run out of funds and are unable to repay the payment.Both debtors usually resolve debt disputes through debt restructuring.With the increasing complexity of economic business,in order to gradually regulate the accounting behavior of listed companies,the Ministry of Finance has successively revised and issued standards for income,transfer of financial assets,and presentation of financial instruments.There are inconsistencies in the contents of the principles of confirmation,measurement and presentation of"Reorganization",leading to major differences in the implementation of the original standard.In order to eliminate standards’ non-coincidence,to maintain the internal coordination and consistency of China’s accounting standards system,the Ministry of Finance issued a new "Accounting Standards for Business Enterprises No.12-Debt Restructuring",which will be implemented on June 17,2019.This article analyzes the impact of the specific changes of the debt restructuring guidelines on listed companies and the economic consequences.By comparing the old and new debt restructuring standards,it was found that the new standard adjusted the definition of debt restructuring,the relationship between debt restructuring standards and other accounting standards,and standardized the accounting treatment and disclosure of listed companies’ debt restructuring.So what impact does the revision of the debt restructuring standards have on listed companies?What are the economic consequences?These are the analysis focuses of this study.Under the study of the revision of the debt restructuring guidelines,this paper analyzes the problems in the 2019 debt restructuring guidelines and attempts to make recommendations.This article includes seven parts.The first part is an introduction,discussing the research background,significance and research methods of this article,combing and summarizing the domestic and foreign views on debt restructuring standards in recent years.The second part elaborates the related theories of debt restructuring and economic consequences.Through comparative analysis,a theoretical analysis of the possible economic consequences brought about by the changes of the old and new standards.The third part introduces the background of the case,explains the financial and debt restructuring of Guangdong Mengshi New Energy Technology Co.,Ltd.,emphasizes the corporate debt restructuring behavior involving changes in the new debt restructuring standards,and analyzes the differences in the financial reports of listed companies under the new and old standards.The fourth part analyzes the impact of the revised debt restructuring standards on the financial statements,financial performance and specific accounting treatment methods of listed companies.Part V further studies the economic consequences of the new standard.The sixth part elaborates the problems in the new debt restructuring guidelines discovered during the research process,and then provides some suggestions on how companies can effectively carry out debt restructuring and relevant stakeholders can invest rationally through the financial statements.The seventh part is a summary and outlook,and put forward the prospect of further research on debt restructuring standards.