(A) asymmetric accounting information, leading to market failure, resource allocation efficiency decline. XzM China Audit Network
The enterprise is the only provider of accounting information in a narrow sense, and the demanders refer to the information demanders outside the enterprise, mainly the stakeholders of the enterprise, including investors, creditors, countries, enterprise management authorities and other information users. The performance of accounting information asymmetry: the asymmetry of accounting information between different accounting information users means that the information disclosure of accounting statements is biased towards a specific information user because of the choice of specific accounting methods, which leads some people to get more information they need, while others do the opposite, resulting in an increase in investment costs and a decrease in the liquidity of stocks in the market; Asymmetric accounting information between information providers and users. As the provider of accounting information and the internal user of information, enterprise management authorities have more information advantages than external users. Enterprise managers use this advantage to whitewash and beautify accounting statements and constantly adjust income and surplus. China is in the stage where the demand for accounting information is greater than the supply of accounting information, and many companies and enterprises are reluctant to disclose their internal important accounting information, so as not to be at a disadvantage after being learned by competitors. There are some internal financial information, such as the company's serious losses and insolvency, and the company was severely punished by the finance and taxation department. After such information is published, it will definitely damage the company's image and even cause the stock price of listed companies to plummet, so the company is unwilling to provide such information. Due to the accounting system's own factors, accounting information can not fully and truly reflect the performance of enterprises, such as historical cost measurement, monetary measurement and other inherent limitations, which will affect the effectiveness and authenticity of accounting information to some extent. XzM China Audit Network
(2) The accounting information report is distorted, resulting in untrue data. XzM China Audit Network
Mainly reflected in: in order to pursue the completion of economic indicators or task indicators, when the predetermined goals are not reached, relying on adjusting statements to muddle through; Only statistical data useful for political achievements are used to convert unfavorable figures, which eventually leads to data distortion. Internal self-restraint function is not strong. In accounting and statistical management, it is arbitrary. When major policies and businesses were introduced, it took advantage of the loopholes in policies and adopted the method of "policies at the top and countermeasures at the bottom", taking an irresponsible attitude towards accounting statistics and making changes at will. There is no necessary statistical supervision and inspection means. Even the audit department can only check the real data of a certain department or unit in a certain period, but can't comprehensively check the consolidated statistical data. XzM China Audit Network
(C) Accounting information is not fully disclosed, and relevant information cannot be correctly reflected. XzM China Audit Network
Taking the annual periodic report of an enterprise as an example, there are some phenomena in the presentation of subsidiaries and affiliated enterprises by the parent company, such as omission, failure to explain major matters such as contingencies, failure to disclose in detail that the total profit is mainly composed of non-main business profits, and failure to make necessary analysis and explanation on major changes of main financial indicators such as main business income and net profit. Although some of them disclosed in strict accordance with the regulations, if they failed to actively increase the disclosure content according to the changes in the environment or the special circumstances faced by the company, the disclosure was insufficient. For example, in recent years, prices have changed dramatically, but it is difficult to see that companies are willing to explain or pay full attention to the possible impact on their financial status and operating results in accounting information disclosure. Some enterprises have a large number of assets that have not been confirmed, let alone measured and reported. The existing financial reporting model only pays attention to physical assets, but fails to reflect intangible assets such as intellectual property rights and human resources. It is these intangible assets that are the fastest and most important factors to increase the profits of enterprises, and it is these factors that determine the value of enterprises in the era of knowledge economy. In the era of knowledge economy, knowledge resources have become the first resource for economic development. If measured by historical cost, the value of many knowledge resources cannot be realized. Knowledge resources reflect the future value of the enterprise, while historical cost reflects the past financial situation of the enterprise. XzM China Audit Network
(D) Accounting information data reflect a single, lack of guidance. The existing company reports mainly reflect the company's financial information, and the disclosure scope is limited to the transactions and events confirmed and measured by financial accounting, while ignoring the importance of non-financial information. Because the enterprise environment and the enterprise itself are still changing, it is not enough to predict the future development of the enterprise only by relying on the past financial data. Moreover, some non-financial information can often prompt the future development trend of enterprises more than financial data. With China's entry into WTO, international trade has increased, and these non-financial information is helpful to improve the possibility of trade. In addition, the reports provided by existing enterprises mainly reflect their own performance, while ignoring many other information, such as the contribution of enterprises to society and the impact of enterprises on the environment. This is determined by the characteristics of the industrial economy era, but in the knowledge economy era, people's evaluation criteria for enterprises will not be limited to the economic benefits of enterprises, and it is difficult for information users to make a comprehensive evaluation of enterprises by using existing accounting reports. XzM China Audit Network
(E) The timeliness of accounting information transmission is too slow, which affects the information demand. Among the characteristics of accounting information quality, timeliness is closely related to relevance. Judging from the disclosure of interim reports and non-listed companies, the accounting system now provides accounting information irregularly, and the annual report of enterprises will not be released until several months after the end of the accounting year. It is often difficult for enterprise management organizations to determine when some major events will occur due to the lack of information, which leads to insufficient supervision effectiveness. In addition, some companies often decide when to disclose important matters according to their own interests, and even collude with unfair speculators to cooperate with them to manipulate the market for disclosure, thus reducing the timeliness of relevant accounting information and other information. The aging of accounting information seriously lags behind the reality, which greatly affects the needs of information users and the decisions and vital interests of many investors. XzM China Audit Network
Second, how to improve the quality of accounting information countermeasures
(1) Establish and improve the legal system. The revised "Accounting Law" has increased the penalties for illegal acts. In order to give full play to the powerful role of accounting law, there must be supporting laws and regulations, and the criminal law, company law and securities law should be revised accordingly, especially the supervision of listed companies, and decisive punishment measures should be taken when fraud is found. Improve the accounting professional ethics environment, formulate and perfect accounting professional ethics rules, and strengthen accounting professional ethics education; Strengthen the construction of accounting legal system and create a good social environment for accounting supervision. While perfecting the Accounting Law and relevant laws and regulations, we should pay attention to standardizing external supervision, such as supervision by the state, society and the public, especially audit supervision, perfecting internal control and reward and punishment mechanism, and improving the internal environment of accounting supervision. The internal control mechanism is a constraint mechanism, which is a constraint on rights and responsibilities. When standardizing the processing and disclosure of accounting information, accounting standard-setting institutions should maintain a neutral, objective and fair position, reasonably determine that enterprises disclose enough relevant information, and reduce information asymmetry, so as to balance and coordinate the interests of both enterprise management authorities and users and the different interests of information users, and safeguard the legitimate interests of all parties concerned. XzM China Audit Network
(2) Cultivating accounting information subject and information demand market At present, China's accounting reform should improve the accounting information supply mechanism and vigorously cultivate China's accounting information demand market. We should establish and improve various laws and regulations as soon as possible to control the disclosure of accounting information, reduce the space of earnings management, reduce vague clauses in laws and regulations and ensure the quality of information disclosure. We should constantly expand the disclosure of financial information, enrich the forms and contents of accounting information, reveal more analytical information, reflect the information confusion caused by uncertainty more comprehensively and objectively, and enrich the forms and quantities of reports; In order to better meet the increasingly diverse needs of more information users, accounting information disclosure should be more flexible, not only financial information, but also non-financial information; Not only quantitative information, but also qualitative information; Not only disclose some information, but also disclose relevant risk information. In the process of information disclosure, only by following the rules and adopting consistent methods can enterprises ensure the comparability of information and the effectiveness of the information market. At the same time, we should strengthen the management and construction of accounting information intermediary institutions. Due to the large number of demanders of accounting information in China, the structure is complex, the overall level is not high, and the utilization of accounting information is not sufficient, which requires a high-quality information intermediary consulting agency to make effective decisions on the basis of fully understanding the significance of accounting information. XzM China Audit Network
(3) Establish a networked accounting information system to improve the timeliness of accounting information transmission. Computerized accounting should be widely implemented, especially the emergence of computer network, electronic money and ever-changing accounting audit software, which will make accounting more clear, fast and transparent and accounting supervision more intuitive. We should make full use of the application of modern network technology in accounting information system, give full play to the safe and fast access channels of network transmission data, and realize the benefit of information use. The usefulness of accounting information plays a real guiding role in the economic field. XzM China Audit Network
(5) Strengthen the professional ethics education of accountants and improve their professional quality and working ability. XzM China Audit Network
First of all, accountants should "practice their internal skills" and have a wide range of knowledge, such as advanced mathematics, basic computer knowledge, foreign language knowledge and basic social science knowledge. Accounting personnel at the core of enterprise management should not only be familiar with their own laws, regulations and history, but also understand the laws, regulations and government policies of other relevant countries. Modern management science, such as applied system analysis. The acquisition of these basic knowledge will improve the ability of accountants to observe, analyze, judge and summarize. The most fundamental thing is that accountants should also have solid and profound business knowledge and related professional knowledge. Secondly, accountants should have "the professional judgment ability of accountants". Professional judgment is not limited to the application of standards. With the deepening of knowledge economy, the functions of accountants are more and more extensive, including the control of production cost, the management of working capital, risk control and accounting, strategic investment, the analysis and prediction of financial statements, etc. All these aspects require enterprise accountants to have strong analysis, judgment, choice and decision-making ability. XzM China Audit Network