The application of accounting policies

　　The common problems in the application of accounting policies are mainly reflected in the aspects of error and improper application, such as the ambiguity of revenue recognition, asset impairment provision, long and short term investment income confirmation, and the time lag in the construction of the project, the capital of the loan, the long term of the intangible assets, and the improper handling of accounting report. On the other hand, it is applicable to the accounting policies, such as the change of the accounting estimates, the depreciation of the fixed assets, the proportion of bad debts, the confirmation method of the change of the income, the method of changing the cost of inventory. For the first class of problems to be corrected and adjusted, the second category of questions should focus on the choice and persistence.

　     Two, accounting basis to pay attention to the problem
Operation specification, is a basic requirement of the new three board listed companies, of course, also includes financial norms. Quasi listed companies, especially private enterprises, in terms of basic accounting are two aspects, on the one hand is "Regulations" does not comply, records, vouchers, statements are not standardized, and even wrong, the content can not converge or not comprehensive enough; on the other hand is "inside and outside", due to financing, taxation and other aspects of the demand, widespread several sets of debt situation. This will not only allow enterprises to run quality and external image greatly reduced, it is bound to affect the listed companies, of course, will affect the future of the enterprise IPO. Suggested strict implementation of the relevant accounting standards, fully aware of the specification is not a cost and income but, to develop consciousness and habit of all economic and business transactions into a unified set of reimbursement system.

　　   Three, internal control improvement
Enterprise internal control is the focus of the investigation and the core of the Securities Industry Association, also the core of the Securities Industry Association and other competent authority for the record review. From the perspective of internal control, including financing control, investment control, cost control, profit control, financial control, distribution control, risk control, etc., from the internal control approach, including corporate governance mechanisms, responsibility and authority control, budget control system, business process control, moral hazard control, non compatible job separation control, etc.. Generally speaking, the type of internal control is divided into a control (or centralized control) and an incentive type control (or decentralized control). In general, the former is dominated by small and medium enterprises, which can take the latter. In addition, the internal control is not only to have a system, but also to perform and supervision, and there are records and feedback, otherwise it will still be a mere formality, affecting listing.
Four, enterprise profit planning problem
Although the new three board listing conditions in the financial indicators are not clear, there is no hard and fast rules, but for the objective needs of enterprises to enter the capital market, corporate profitability continues, rationality and growth are crucial. Therefore, it is necessary to plan for the enterprise profit in advance, and provide the system guarantee from the policy application, market support, cost allocation, cost accounting. Profit planning mainly includes three aspects: profitability, profitability, profit growth rate, we must take into account the financial ratio and the formation of the linkage and unity of the assets and liabilities, cash flow, etc.. From the point of view of the real benefits of enterprise development and listing, profitability planning should not be artificially "packaging", but to focus on its inherent rationality and the subsequent development of the potential to maintain.
     Five, the structure of capital debt
The structure of capital and liability mainly concerns the problem of the structure of equity capital and debt capital, the concentration and distribution of the ownership structure, the choice of the proportion of liability and the choice of the period, the control of the liability risk and liability. With the most typical asset liability ratio as an example, high will be considered as a weak corporate debt solvency, weak anti risk ability, it is difficult to meet the listing requirements, but too low is not necessarily smooth through the listing audit, because the approval authority may think that the company is not small, the listing will be a lack of. Therefore, the moderate liability is conducive to the moral hazard and reduce the agency costs, the creditors can maintain a moderate control of the current business owners, but also more conducive to corporate listing or IPO financing. Therefore, based on this consideration, the company's assets, liabilities in the listing before the restructuring is particularly important.

　Six, tax planning issues
Tax issue is a big problem for the listed companies. For most small and medium enterprises, the use of internal and external accounts, the profit has not been fully revealed, listing before the need to face the impact of tax penalties and adjust accounts. Mainly related to the land value added tax, fixed asset purchase tax, business income tax, corporate income tax, the individual income tax and other projects. If can be resolved through the tax penalty and diaozhang, still did not constitute a substantial obstacle, more is, hand because to the repair history of the cost of the tax increase, another aspect but because of excessive adjustment was identified as the enterprise internal control ineffective, sustained profitability without security, operating companies lack of integrity, etc., can be described as "wasted". Therefore, tax planning must be considered in advance, and to avoid the combination of profit planning. In addition, the impact of local tax policies and government subsidies on the profitability of enterprises should also be considered in the planning.
   Seven, related transaction processing
The positive impact of the related party transactions is reflected in the increase of enterprise competitiveness and reduce transaction costs, the negative impact is insider trading, profit transfer, tax avoidance, market monopoly, etc.. Therefore, whether it is IPO or three new board listing, the review of related transactions are very strict. From the ideal situation, the best conditions of the enterprise can completely avoid the occurrence of related transactions or minimize the occurrence, however, the absolute avoid associated transactions may be behind the business disruption, the cost increases, the competitiveness declined. Therefore, it is necessary to treat the related party transactions, in particular, to deal with three aspects of the problem, one is to understand the nature and scope of related transactions; two is to minimize the importance of the related transactions, to refuse to do not need to and not normal related transactions; the three is to deal with the decision making process and financial affairs must be legal, standardized and strict.
    Eight, the staff of the problem of incentive
Motivate employees, legal issues is not only a human resources management problem, but also the labor relations is a financial problem, mainly reflected in: shares, and where did they come from? How the price is set? Where did the money come from? Where shares going? How is the performance evaluation. The exercise price is not adjusted? How accounting accounted for? How do taxes levied? These problems early in the development of enterprises was entrepreneurs attention, or too busy to be taken into account, but to the listed on the need for restructuring, naturally come in swarms, and often difficult to treat this time will instantly increase. We advocate that the company should consider this issue after the relative stability of the team, and phase of the design of the relevant legal and financial structure, and set aside space for the stock and cash flow. In addition, it should be combined with other factors, such as employee motivation and performance assessment, revenue forecasts and other factors.
In the new three board listing process, the enterprise and the sponsor if you can start from the above 8 aspects, I believe that the road will not be a long way to the new three board listed companies.
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