关于破产清算会计若干问题的思考

宣告破产就是法院依据相关的法律规定,根据企业负责人的申请或者债权人申请宣告债务人破产的行为。企业在被宣告破产日内,应当由有关人员组成清算小组对企业的经营进行接受和管理,对企业的账务处理进行专门的核算也就是破产清算。破产清算会计与一般的持续经营会计核算不同,破产清算会计的前提是清算,清算会计的内容要反应企业清算过程的真实情况。在实际的破产清算会计中出现很多的问题,如何运用正确的破产清算准则进行合理的会计清算,是实现财务结果真实性和客观性的重要内容,也是值得研究的重要课题。     

关于破产清算会计若干问题的思考

现代市场经济体制下,企业破产是一种极为普遍的经济现象,在《破产法》与企业破产相关机制影响下,破产清算会计的重要性越发凸显.破产清算会计作为一种特殊的会计工作,在企业破产清算相关工作中具有重要作用,在企业破产越发正规化的今天,破产清算会计在会计工作体系中的实际地位也有了明显提升.本文将对破产清算会计相关问题进行具体研究,在分析破产清算会计中存在的具体问题的基础上,就如何更好开展破产清算会计提出了合理化建议.     

清算会计若干问题研究

企业破产和解散是市场经济条件下社会经济资源配置调整的一种有效形式。对这一过程进行探索和研究，对于完善我国企业会计制度，指导企业破产清算工作，具有重要的现实意义。一、清算的概念及清算会计的产生企业清算是指企业终止其经营活动并对其财产进行清理、变卖以清偿债务的行为。企业清算按原因的不同分为破产清算和解散清算。破产清算的直接原因是企业不能偿还到期债务。解散清算有以下几种原因；（l）企业合并或分立需要解散原企业；（2）公司章程规定的营业期届满；（3）股东大会决定解散；（4）公司章程规定的其他解散事由的出现（…     

关于破产清算会计若干问题的思考

破产清算会计在财务会计工作中具有一定特殊性,随着我国市场经济体制的不断完善,破产清算会计的地位有了很大提升,在破产清算相关工作中所起到的作用也越来越重要.本文从破产清算会计目标以及破产清算的意义入手分析,主要研究了破产清算会计存在的一些问题,并提出了相应的完善对策.     

我国企业破产清算会计存在问题和解决对策

破产清算会计区别于企业一般的财务会计,它是企业会计的破产清算过程和结果的反映.众所周知,2008年,以美国次贷危机为开端,快速引发了一场全球性金融危机,导致大量企业破产,在经济全球化的大环境下,我国企业也收到了一定冲击.在日益激烈的市场竞争环境下,随着市场经济的发展,企业破产对资源的有效配置和产业规划的调整十分重要,出现将会十分频繁,这是市场经济有效运行的肯定结果,是世界经济的必然现象.任何企业都有面临破产的可能,这是事物发展的必然规律,因而引起的企业清算是一个具体但又不同于日常核算的会计过程.在我国,目前还没有一套完善的破产会计准则,在实际操作中,会计人员只能根据《破产法》等法律的相关部分进行会计核算,这使得破产清算会计核算达不到标准的统一,给破产清算工作造成阻碍.本文首先简要阐述了破产及破产清算相关涵义、内容以及研究的意义,再对破产清算会计核算进行一定说明,最后重点研究了企业破产清算会计存在的相关问题以及为了解决各种问题提出的相关建议.     

企业破产清算存在的问题及对策——以汉江集团下属企业为例

2010年,汉江集团对所属资不抵债、无法持续经营的企业实施破产,笔者参与了所属企业的破产清算工作．破产清算工作历时三年多．至今个别破产企业清算尚未完全终结。本文就破产企业清算存在的问题、原因及应对策略进行简要的分析。     

关于破产清算会计若干问题的思考

近几年来,随着经济社会的发展,破产企业逐渐增多,企业的破产清算会计也越来越被重视。但在实际情况中,企业的破产清算还存在不少的问题。本文首先介绍了破产清算会计,然后指出了破产清算会计存在的问题,最后结合北京案例,提出了破产清算会计的完善措施。     

论企业破产清算内部控制框架的构建

关于正常持续经营企业的内部控制的理论和实务研究趋向于成熟.但是,破产清算作为企业的特殊状态,其内部控制的研究以及相关的制度规范一直没有得到关注.事实上,破产清算作为一个期间,存在多方参与人,各方之间都有不同的利益关系和行为动机,其制衡关系直接影响着破产清算程序的进行,这种制衡关系就是破产清算企业的内部控制.本文以企业破产清算为研究对象,深入探讨“破产清算内部控制”的概念,并按照内部控制的基本理论,从主体、客体和控制要素三个方面构建全面有效的破产清算内部控制框架.     

企业清算中会计与税务审计实务讨论

<正>在市场经济中,企业破产是一种有效的配置资源及调整产业布局的经济形式。企业清算是指企业按章程规定解散以及由于破产或其他原因宣布终止经营后,对企业的财产、债权债务进行全面清查,并分配剩余财产的经济活动。真实反映破产企业最后阶段的价值运动并进行合理清算,对维护债权人的合法权益,保证市场经济的正常秩序有重大的现实意义。本文分析了企业清算会计的特点,并对清算会计的内容和税务审计的实务进行了探讨。     

破产清算会计若干问题再思考

破产清算是清算会计重要工作内容之一,深入、科学认识与开展破产清算会计工作对于进一步优化破产企业的经济、社会资源调整配置具有重要意义.为此,笔者专门结合工作实际,在总结阐释清算、普通清算、破产清算的涵义等内容基础上,重点分析了破产清算与普通清算的会计核算异同,旨在更好促进破产清算会计工作的科学与有效开展.     

Automatic bankruptcy auctions and fire-sales

We test for fire-sale tendencies in automatic bankruptcy auctions. We find evidence consistent with fire-sale discounts when the auction leads to piecemeal liquidation, but not when the bankrupt firm is acquired as a going concern. Neither industry-wide distress nor the industry affiliation of the buyer affect prices in going-concern sales. Bids are often structured as leveraged buyouts, which relaxes liquidity constraints and reduces bidder underinvestment incentives in the presence of debt overhang. Prices in “prepack” auctions (sales agreements negotiated prior to bankruptcy filing) are on average lower than for in-auction going-concern sales, suggesting that prepacks may help preempt excessive liquidation when the auction is expected to be illiquid. Prepack targets have a greater industry-adjusted probability of refiling for bankruptcy, indicating that liquidation preemption is a risky strategy.     

Safety Products, Inc.: A case in financial analysis of a failing company

Safety Products, Inc. was a small, private corporation that manufactured acrylic sheet plastic. After a massive fire, the company filed a claim against its business interruption insurance for lost income. The policy covered profits that would have been earned, based on Safety’s financial records, had the disaster not occurred. The insurance company denied the claim on the grounds that Safety Products was not a going concern, and, therefore, there were no lost earnings.The basic learning objective of the case is to develop the students’ abilities to use and analyze a company history, along with its financial statements and ratios, to evaluate the going-concern assumption. The AICPA Core Competency Framework identifies a set of skills-based competencies needed to enter the accounting profession. The case provides a means to develop student skills in the Functional, Personal, and Broad Business Competencies, which are core skills relevant to long-term career opportunities. [American Institute of Certified Public Accountants (AICPA) (2001). AICPA core competency framework for entry into the accounting profession (the framework). Retrieved from < http://www.aicpa.org/edu/corecomp.htm > on April 3, 2006]The case is directed to an upper-division undergraduate or graduate course in Financial Statement Analysis. However, the case could be used in any accounting course that examines the going-concern or continuity assumption among the traditional assumptions of the accounting model.     

An investigation of independent audit opinions and subsequent independent auditor litigation of publicly-traded failed savings and loans

Failures of savings and loans (S & Ls) have resulted in substantial independent auditor litigation; however, there is limited empirical evidence concerning audit opinions of failed S & Ls. Our study investigates the audit opinions of publicly-traded S & Ls that subsequently failed. We found that the independent auditors of failed S & Ls issued qualified (or modified) going-concern opinions or going-concern disclaimers of opinion on the last audited financial statement prior to failure in 19 of 24 cases. Results of univariate and multivariate analyses are consistent with several predictions concerning economic factors expected to influence the type of audit opinion, and our evidence suggests that auditors rendered going-concern reports to those S & Ls that were most likely to fail ex ante. Analysis of independent auditor litigation data reveals that auditor lawsuits related to these failed S & Ls were filed in seven cases. Five of these seven lawsuits implicated auditors who rendered going-concern reports. This suggests that going-concern reports in the year prior to the failure of an S & L do not prevent auditor litigation. Because it is possible that independent auditors will face situations comparable to the S & L crisis in the future, government regulators and the public accounting profession should be interested in research that enhances the understanding of the audit opinion formulation process in such settings.     

The endogenous relationship between audit-report type and business termination: evidence on private firms in a non-litigious environment

This study provides evidence on the relationship between audit-report type and subsequent business termination for private companies in a non-litigious environment. The results show that an endogenous relationship exists between bankruptcy and audit-report type, and between voluntary liquidation and audit-report type. A non-clean opinion is typically issued when firms face financial difficulties, which in turn become more severe after the receipt of a non-clean audit opinion. We find evidence that, even without a litigation deterrent in Belgium, financial performance has a similar impact on audit-report type as in litigious environments. We find that the self-fulfilling prophecy hypothesis holds for bankruptcy but not for voluntary liquidation. Our study also provides some evidence on audit reporting differences between Big 6 and non-Big 6 auditors in the Belgian audit market. When financial difficulties are obvious, as is the case when a company is about to go bankrupt, both Big 6 and non- Big 6 auditors are as competent and/or independent to assess and report going-concern problems. However, when financial difficulties are less apparent, as is the case for firms that voluntarily decide to liquidate, our results indicate that Big 6 auditors are more likely to issue a non-clean audit opinion than non-Big 6 auditors.     

Low‐income,low‐asset debtors in the U.S. bankruptcy system

The United States' bankruptcy system faces a major problem: many consumers are too poor to file for bankruptcy, usually because they cannot afford the necessary attorney fees. Some consumers appear to spend months trying to save the funds to pay their attorneys, thus either delaying their bankruptcies or foregoing bankruptcy altogether when they fail to save enough money. Others file for repayment bankruptcy in order to pay attorney fees during the case, when liquidation bankruptcy is usually a better fit for consumers with low incomes and low asset levels. The most recent comprehensive bankruptcy reform, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), exacerbated these problems by implementing additional procedural requirements that resulted in attorneys raising their fees. These problems have led to calls for administrative bankruptcy, especially for low‐income, low‐asset (LILA)/no‐income, no‐asset (NINA) debtors. Administrative bankruptcy would make bankruptcy more accessible by lowering access costs, for example, by eliminating the need for consumers to hire attorneys. Administrative programs in the United States, however, have a history of long‐term decline, especially when these programs serve low‐income people. It has become a cliché that poor people's programs become poor programs. A better solution would be to eliminate the procedural requirements imposed by BAPCPA and simplify the decision consumers must make about which type of bankruptcy to use.     

Audit Fees, Non-Audit Fees and Auditor Going-Concern Reporting Decisions in the United Kingdom

The accounting profession has come under increased scrutiny over recent years about the growing number of non-audit fees received from audit clients and the possible negative impact of such fees on auditor independence. The argument advanced is that providing substantial amounts of non-audit services to clients may make it more likely that auditors concede to the wishes of the client management when difficult judgments are made. Such concerns are particularly salient in the case of reporting decisions related to going-concern uncertainties for financially stressed clients.
 This study empirically examines audit reports provided to financially stressed companies in the United Kingdom and the magnitude of audit and non-audit service fees paid to the company's auditors. We find that the magnitude of both audit fees and non-audit fees are significantly associated with the issuance of a going-concern modified audit opinion. In particular, financially stressed companies with high audit fees are more likely to receive a going-concern modified audit opinion, whereas companies with high non-audit fees are less likely to receive a going-concern modified audit opinion. Additional analyses indicate that the results are generally robust across alternative model and variable specifications. Overall, evidence supports the contention that high non-audit fees have a detrimental effect on going-concern reporting judgments for financially stressed U.K. companies.     

On the conceptual foundations of financial reporting

Standard setters advocate a balance sheet approach to financial reporting, which views assets and liabilities as primary, and income as just the derivative change in net assets. This paper argues that income is conceptually and practically better described as ‘adjusted net cash flows,’ where the adjustments are the accounting accruals. One proof of that is seen in the existence of whole accounting systems like tax accounting and national income accounting, which emphasize the determination of income but have no balance sheets. The paper also argues that an income-based approach to financial reporting is by nature better suited to reflect the success of advancing cash to earn more cash, which defines what for-profit entities do. There are two main features of the income-based approach. One is attention on the cash flows as the natural foundation for financial reporting because they are precisely determined, and provide a clear link to firm valuation. The other is attention on the accounting accruals, which serve to adjust the raw cash flows to better show the current success of investing cash to ultimately earn more cash. Specifically, the paper argues for revenue recognition which is close to current practice, and for expense recognition which is aligned with the matching principle.     

Usefulness of comprehensive income reporting in Canada

In January 2005 the Canadian Accounting Standards Board (AcSB) issued three new accounting standards that require Canadian firms to mark-to-market certain financial assets and liabilities and recognize the holding gains and losses related to these items as other comprehensive income or as part of net income. The Board’s objectives for issuing the new standards are (i) to harmonize Canadian GAAP with US and International GAAP, (ii) to enhance the transparency and usefulness of financial statements, and (iii) to keep pace with changes in accounting standards in other countries that are moving towards fair value accounting. This paper investigates empirically whether requiring Canadian companies to report comprehensive income and its components provides the securities market with incremental value-relevant information over the traditional historical-cost earnings approach.Previous empirical studies provide mixed evidence on the value relevance of other comprehensive income and its components. This mixed evidence may be attributed partially to the use of as if methodology to construct an ex-ante measure of other comprehensive income prior to the implementation of SFAS 130, which introduces measurement error. In contrast, this study uses actual data on other comprehensive income for a sample of Canadian firms cross-listed in the US in the period 1998–2003. We find evidence that available-for-sale and cash flow hedges components are significantly associated with price and market returns. We also find that aggregate comprehensive income is more strongly associated (in terms of explanatory power) with both stock price and returns compared to net income. However, we find that net income is a better predictor of future net income relative to comprehensive income. Our findings suggest that mandating all Canadian firms to adopt the new accounting standards is expected to enhance the usefulness of financial statements. Our findings, therefore, should be of interest to Canadian accounting policy makers as they provide ex-ante evidence on the potential usefulness of mandating firms to report comprehensive income and the components of other comprehensive income in their financial statements.     

The effectiveness of the auditor's going-concern evaluation as an external governance mechanism: Evidence from loan defaults

When there is significant doubt about a firm's ability to continue as a going concern, professional standards require independent auditors to disclose the uncertainty in their report. This study assesses the influence of the independent auditor's going-concern evaluation by examining default following the release of the auditor's report. We use a proprietary sample maintained by the Portuguese Central Bank on 12,199 audit reports relating to approximately 2000 firms that are liable by law to have their accounts audited on an annual basis. Empirical estimation of a logit model controlling for accounting cash- flow-related and nonaccounting variables shows that the likelihood of default for firms that received going concern opinion is 2.792 times that of firms that received a clean opinion. Likelihood ratio tests for omitted variable also confirm the incremental predictive ability of going-concern opinion over and above accounting and nonaccounting variables for the estimation and hold-out samples. In the nondefaulting group, the average default rate is 6.05%, in the defaulting group it is 17.78%. The default rate for firms in the nondefaulting group that received a going-concern opinion is 9.92% and for firms that received a clean opinion it is 5.96%. In the defaulting group, the rate for firms that received a going-concern opinion is 35.49% and for firms that received a clean opinion it is 16.96%. Checks for robustness across different asset classes, age, industries, and regions indicate that firms that receive a going-concern opinion on average default more than those that receive a clean opinion.     

政府会计中构建二元结构会计要素的研究

我国目前的政府会计报表存在重大缺陷,基于一元结构会计要素的报表难以满足政府会计双重基础的会计信息需求。本文提出我国政府会计应该借鉴国外经验,构建二元结构政府会计报表要素的观点,即在政府会计中同时构建收付实现制为主要基础的预算收支表要素和权责发生制为主要基础的资产负债表要素,并提出了我国政府会计改革中设置和应用会计要素的建议。