Research On The Disclosure Of Non-GAAP Indicators Of Xiaomi Group And Its Impact

With all investors in capital markets being rational,they make investment decisions based on the financial information disclosed by listed companies in accordance with the requirements of the standards,tend to underestimate the profits of enterprises in accordance with the GAAP data disclosed in accordance with the standard international accounting standards,and the increasing complexity makes it more difficult for users to understand the financial information based on GAAP,so Non-GAAP indicators emerge.Adjusting the core income of non-cash and non-recurrent items based on standard performance indicators can more accurately reflect the company's continuing business situation and reduce the impact of non-recurrent gains and losses on the company's operating performance,Reduce the degree of capital market response to changes in corporate performance,make it gradually become a popular trend.As more and more enterprises voluntarily disclose the index,the discussion of the index has gradually increased.Some studies have confirmed that the Non-GAAP index has the function of supplementary financial information,but it has not been recognized by the capital market owners.There is still a view that it is a surplus.Based on the theories of signal transmission theory,competitive disadvantage cost theory,current profit and loss theory and profit and loss full accounting theory,this paper analyzes the process and influence of Xiaomi Group's Non-GAAP index performance disclosure by case study method,and focuses on the adjustment process of convertible redeemable preferred stock fair value change,-based compensation,investment fair value change net value and intangible assets amortization,To study whether the motivation of Xiaomi Group's voluntary disclosure of Non-GAAP indicators is realized,and to find out the problems in the process of Xiaomi Group's performance disclosure through experts and media questioning the reasons for Xiaomi Group's adjustment.Put forward targeted solutions,and then reflect the shortcomings of Non-GAAP indicators.The main conclusions of this paper are :(1)the opposite results of the choice of different measurement methods under the standard accounting standards,which indicates that there are some unreasonable points in the existing standard accounting standards;(2)the existing information disclosure is under the standard standards,and the Non-GAAP indicators are a enrichment and supplement,not a substitute;(3)the adjustment items and proportion of the Non-GAAP indicators are determined by the enterprise independently and do not need to be formally audited,so there are some problems such as subjectivity,randomness and inconsistent adjustment standards in the disclosure process.