Empirical Study on the Influence of the Impaired Asset Policy on the Quality.docx

Empirical Study on the Influence of the Impaired Asset Policy on the Quality.docx

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EmpiricalStudyontheInfluenceoftheImpairedAssetPolicyontheQuality

EmpiricalStudyontheInfluenceoftheImpairedAssetPolicyontheQuality

oftheInformationDisclosure:

BasedontheListingCorporationsinDifferent

Industries

ÉTUDED’EMPIRIQUESURL'INFLUENCEDELAPOLITIQUESURLESACTIFSDEPRECIESDE

LAQUALITEDELADIVULGATIONDESINFORMATIONS:

BASESURLESSOCIETESLISTEDANS

DIFFERENTESINDUSTRIES

1Asia-AustraliaBusinessCollegeinLiaoningUniversity,Liaoning,

GansuProvince,110136,China

*Correspondingauthor.

Associateprofessor,mainlyengagedinFinancialAccountingTheory.

Address:

Asia-AustraliaBusinessCollegeinLiaoningUniversity,

Liaoning,GansuProvince,110136,China

Email:

wchy6310@

Received20June2011;accepted27July2011

Abstract

Provisionforimpairmentofassetsplaysavery

importantroleinimprovingthequalityofaccounting

information.Inthispaper,weuseempiricalresearch

methodtoanalyzetheapplicationofassetimpairment

anditsimpactonaccountinginformationdisclosureof

listedcompaniesamongthe12industriesbyelaborating

relativetheoriesonassetimpairmentandanalyzingdata

collectedfromRESSETdatabase.Allthesearetostudy

thedistinctivenessoflistedcompaniesfromdifferent

industriesinchoosingimpairmentpoliciesandthepolicies

impactonindustries,therebyprovidingsomeadvice

accordingtodifferentindustries’characteristicsinmaking

preparationofassetimpairment.

Keywords:

Impairedassets;Industryvariance;

Qualityofaccountinginformation

Résumé

LaProvisionpourdépréciationd'actifsjoueunrôle

trèsimportantdansl'améliorationdelaqualitédes

informationscomptables.Danscepapier,nousutilisons

laméthodederechercheempiriquepouranalyser

l'applicationdeladépréciationd'actifsetsonimpactsur

ladivulgationd'informationscomptablesdessociétés

cotéesparmiles12industriesenélaborantdesthéories

relativesàladépréciationdesactifsetl'analysedes

donnéesrecueilliesàpartirdebasesdedonnéesRESSET.

Toutcelaestd'étudierlecaractèredistinctifdessociétés

cotéesàpartirdedifférentesindustriesdanslechoixdes

politiquesdedépréciationetdel'impactdespolitiquessur

lesindustries,offrantainsiquelquesconseilsenfonction

decaractéristiquesdifférentesindustries»danslaprisede

préparationdeladépréciationdesactifs.

Motsclés:

Lesactifsdépréciés;Lavariancede

l'industrie;Laqualitédel'informationcomptable

WUChangyu,&FENGLi（2011）.EmpiricalStudyontheInfluenceof

theImpairedAssetPolicyontheQualityoftheInformationDisclosure:

BasedontheListingCorporationsinDifferentIndustries.Canadian

SocialScience,7（4）,109-113.Availablefrom:

URL:

http:

//www.

DOI:

10.3968/j.css.1923669720110704.Z365

INTRODUCTION

Ithasbeentenyearssincetheformalimplementation

ofimpairedassetspolicyinChina,henceatpresent

theformulationandtheimplementationofimpaired

assetspolicyisintheessentialstage.Howeverthe

distinctivenesshasnotbeenreflectedintheaccounting

standards---impairedassetpolicy.Theproblemraisedin

thisessayishowdifferentinfluenceoftheimpairedasset

onthequalityofaccountinginformationbasedonthe

specialtyoftheoperationandassetstructure.

Thisessaystatesthetheoriesofimpairedassets

provisionsandanalyzesstatisticallyontheapplicationof

impairedassetsprovisionsindifferentindustriesthrough

themethodofempiricalanalysis.Italsostudiesthe

similaritiesanddifferencesofimpairedassetsprovisions

indifferentindustriesaccordingtothedataanddiscusses

thedistinctivenessoftheselectionandapplicationof

impairedassetsinthelistingcorporationsindifferent

industries.

1.GENERALANALYSISONTHE

INFLUENCEOFIMPAIREDASSETS

POLICYONTHECORPORATIONSIN

DIFFERENTINDUSTRIES

1.1FeaturesofAssetsDistributionofListing

CorporationsinDifferentIndustriesinChina

Accordingtothedata,theproportionofliquidassetsand

non-assetdistributionisbasicallystable.Fromtheliquid

assetdistribution,thepercentageofliquidassetsinthe

realestateindustryisthelargestwhichisabove85%,soit

isexpectedthatintherealestateindustryitismorelikely

towithdrawthemoreliquidimpairedassetsprovisions.

Followedareinformationtechnologyindustry,production

andsupplyofelectric,gasandwaterindustry,whose

percentageofliquidassetsismorethan60%.Butinsocial

servicesindustry,wholesaleandretailindustry,mining

industry,thepercentageofliquidassetsisrelativelysmall

andtherelativelylargerpartisnon-liquidassets.

Fromthesituationofnon-liquidassetdistribution,

industriesthatthehighestpercentageofnon-liquidassets

inallassetslieinwholesaleandretailindustryand

socialserviceindustry.Inadditiontheindustrieswhose

percentageofnon-liquidassetsismorethan50%are

inminingindustry,transportingindustry,warehousing

industryandbroadcastingandcultureindustrywhile

inotherindustries,liquidassetsdominantsintheasset

distribution

Table1

AssetDistributioninListingCorporations

In2007In2008

IndustryCodeliquidassetsNon-liquidassetsliquidassetsNon-liquidassets

PercentagePercentagePercentagePercentage

compositeindustry153.0446.9648.1951.81

socialservicesindustry225.5474.4626.1273.88

broadcastingandcultureindustry347.6652.3448.3451.66

realestateindustry486.4313.5787.2512.75

wholesaleandretailindustry618.5681.4416.4383.58

transportingindustry,warehousingindustry741.3358.6741.2458.76

productionandsupply

ofelectric,gasandwaterindustry864.6235.3875.7024.30

informationtechnologyindustry966.7833.2272.0627.94

constructingindustry1055.9944.0159.4740.53

manufacturingindustry1151.2748.7348.6551.35

miningindustry1239.3060.7039.1060.90

agriculture\forestry\animalhusbandry\fisheryindustry1348.9551.0531.3968.61

total——44.7855.2243.8456.16

1.2AnalysisofIndustrialFactorsthatCould

InfluencetheApplicationofImpairedAssets

Standards

Fromtheaboveanalysisofassetdistribution,for

theindustriesthathaveahighernon-liquidassets

percentage,suchaswholesaleandretailindustry,social

serviceindustry,miningindustry,transportingindustry,

warehousingindustryandbroadcastingandculture

industry,etc,becausethelengthoftimeittakesto

operationofnon-liquidassetssuchasfixedassetsand

intangibleassetsislongandthetimetakenforrenewal

isslow,thepolicyofdepreciationindifferententerprises

variesandtheinfluenceoftechnologicalchangesandthe

potentialassetutilizationonthemarketdemandcause

thepossibilityofimpairmentofassetsislargeandthe

influenceofimpairedassetsprovisionontheprofitis

outstandingcomparedtootherindustries.

Fortheindustrywhohasahigherpercentageofliquid

assetssuchasrealestateindustry,informationtechnology

industry,productionandsupplyofelectric,gasandwater

industry,theirassetstructureismainlycash,inventory

andreceivableswhereaspercentageofnon-liquidassets

islower.Thustheinfluenceofnon-liquidimpaired

assetsprovisionontheenterprisesisrelativelysmalland

relativelyspeaking,thepercentageofliquidimpaired

assetsprovisionishigherandthespaceofbaddebtsand

inventorydepreciationprovisionislarger.

Whiletotheenterprisesinsocialservicesindustryand

broadcastingandcultureindustry,theirassetstructure

ismainlycashandreceivables,thespaceofbeddebts

provisionislargerandatthesametimethepercentage

offixedassetandinventoryislower.Sotheinfluenceof

inventorydepreciationprovisionandfixedimpairedassets

provisionontheprofitintravellingindustryisrelatively

smallanditisnotnecessarytowithdrawimpairedasset

provision.Thusthepercentageofliquidimpairedassets

provisionshouldbehigher.

Withrespecttoenterprisesinconstructingindustry,

miningindustryandinformationtechnologyindustry,due

totheproportionofitsinventoryislarge,thepercentage

ofvalueintheassetishigherandtheinventoryturnover

islongerwhichmaketheriskofcontrollingaccounting

profitincreasethroughthedepreciationofinventoryfor

thesetypesofenterprisescomparedwithothers.

Asforenterprisesinwholesaleandretailindustryand

agriculture\forestry\animalhusbandry\fisheryindustry,

althoughthepercentageofliquidassetsishigher,the

turnoverofliquidassetsisfaster,theriskisrelativelylow

duetotheaccumulationofliquidassetsuchasinventory

andthustheproportionofprovisionofimpairmentshould

besmall.

2.EMPIRICALANALYSISONTHE

INFLUENCEOFIMPAIREDASSETS

POLICYONCORPORATIONSIN

DIFFERENTINDUSTRIES

2.1MaterialSource,DataAcquisition,Sample

SelectionandAnalysisMethod

ThedatasourceisfromRESSETdatabaseandthe

selectionofsampleisfromrelevantaccounting

informationoflistingcorporationsinShenzhenand

Shanghaistockmarkets.

Becausedifferententerprisesapplyfordifferent

primarytaxationrateowingtothedifferenceinthe

taxationpolicycausethedifficultyindealingwiththe

data,thisessayadopttotalprofittoanalyzeinorderto

avoidtaxrateandobtainmorepreciseconclusion.

Criteriaofsampleselection:

（l）Duetothespecial

accountingmethodinfinancialandinsuranceindustry,

eliminatelistingcorporationsinfinancialandinsurance

industry;

（2）eliminatelistingcorporationswhoseimpaired

assetprovisionwas0intheyear2007and2008;（3）

eliminatelistingcorporationswhichhave