浅谈关联方交易信息披露规范【外文翻译】Word文档下载推荐.docx

1、Disc u ssion of r e l a ted p a r t y t r a n sa c t ion in for m a t ion d i sc losu r e n or m sAt present, the related party transactions of listed companies is widespread, many listed company has become an important part of business activities. In theory, related party transactions are neutral a

2、reas of the economy, market behavior is neither simple, nor black box trading. Its main role is to make full use of internal resources, lower transaction costs, improve operational efficiency and achieve the company goal of capital operation. However, because the purpose of related party transaction

3、s and forms the main body by the micro-economic control, so in practice, many listed companies, related party transactions not in the free competition under market conditions, but controlled by large shareholders. Particularly in the laws and regulations are not perfect, assessment and auditing role

4、 of intermediaries has not been fully played, accounting practitioners are not high quality case, related party transactions even easier to become part of the adjustment of profits of listed companies, the means to evade tax . This resulted in varying degrees of distortion of accounting information

5、and misleading investors investment decisions.First, the existence of related party transactions in questionWhile certain related party transactions are conducted in public, but in many cases, related party transactions is not based on a fair and impartial, but to gloss over the partys financial pos

6、ition and operating results, to achieve set a good corporate image, to appease the creditors, incentives of investors. Obviously unfair related party transactions, mainly the following aspects:1. Adjustment of profits. The favorable transfer pricing and false sales to the inflated profits. If listed

7、 companies well below the market price of raw materials purchased from related parties or stock merchandise on, he is far above the market price of the sale to related parties, the low prices, then the operating results of listed可编辑companies to gradually brilliant get up. profits through asset repla

8、cement regulation. Assets between related parties, the performance in the form of unequal exchange: one related party to purchase quality assets at low prices to listed companies and listed companies or non-performing assets of unequal exchange; two non-performing assets of listed companies and rela

9、ted debt equal to the related party stripped to reduce the financial costs, enhance profitability; three listed companies the market price much higher than the sale of bad assets to related parties in order to obtain significant disposal gains.2. Shift the burden of debt and costs. Between related p

10、arties bear the debt and costs, mainly in the following several forms: the other party to repay the debt; the other party to pay the purchase price; pay the other party; otherwise the other party to incur obligations and costs.3. Transfer of funds. By listed companies are often higher or lower than

11、the market price, selling goods to related parties or to provide services to achieve the purpose of transfer of funds. In addition, listed companies and financial exchanges between related parties and lending are quite common, although business lending to each other between the acts not permitted by

12、 the regulations, but the related party transactions and the lending of funds between the two is difficult to strictly distinguish between , and the method was not responsible for the public.4. Reduce the tax burden. Reduce the tax burden through related party transactions, the main two things: Firs

13、t, the profits of profit-making enterprises will be transferred to the loss-making enterprises, to minimize the tax burden on the whole group; second is the use of different enterprises in different regions and tax incentives tax provisions of the difference , the profits to low tax or even more pre

14、ferential tax policies related party.Second, the limitations of the relevant laws and regulations binding1. Difficult to control the related party relationship between the behavior of non- associated. In order to truly reflect the economic substance of related party transactions, promulgated the sal

15、e of assets between related parties, such as the Provisional Regulations on Accounting Treatment. The central element is: listedcompanies and transactions between related parties, if there is no conclusive evidence that the transaction price is fair, on the obviously unfair trading price of parts, s

16、hall be allowed to be recognized as current period profit as a capital surplus shall be dealt with and This part of the difference may not be used to increase the capital, or make up the losses. As the Interim Provisions on non-related party transactions is not to regulate, resulting in a number of listed companies