浅谈关联方交易信息披露规范的外文翻译.docx

1、浅谈关联方交易信息披露规范的外文翻译外文翻译原文：Discussion of related party transaction information disclosure normsAt 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 areas

2、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 transactions and

3、 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 of i

4、ntermediaries 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 and m

5、isleading investors investment decisions. First, the existence of related party transactions in question While 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 positi

6、on 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 c

7、ompanies 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 companies to gradually brilliant get up. profits through asset replaceme

8、nt 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 related

9、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 part

10、ies 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 th

11、e 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 t

12、he 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: First,

13、 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 prefe

14、rential tax policies related party. Second, the limitations of the relevant laws and regulations binding 1. 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 sale

15、 of assets between related parties, such as the Provisional Regulations on Accounting Treatment. The central element is: listed companies 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

17、listed companies by various means, the association of non-related party relationship, so that the original revenue from related parties into from non-affiliated parties, to achieve the manipulation of profit purposes. In addition, listed companies will be non-association of related party relationshi

18、ps since then replacement of non-monetary assets, monetary transactions: the first non-correlation of related party relationship, then a non-monetary asset exchange transactions, as the two document monetary transaction processing, asset replacement soon had a business into a sale of assets and acqu

19、ired assets of the two document-monetary transactions to evade the Accounting Standards for Enterprises - Non-monetary transactions constraints, to increase the companys profits with . 2. Relationship between related parties narrow the scope of the provisions. Enterprise Accounting Standards - relat

20、ed party relationships and transactions disclosed in, the not give a clear definition of related parties, gave only a standard to judge the relationship between related parties, namely: direct or indirect control, joint control or direct significant impact; two or more parties with the subjects cont

21、rol. But indirect common control, significant indirect effects, with the under common control between two or more parties, not as a related party accounting standards; on the form is not in fact belong to the relationship between related parties, accounting standards only in principle requirements,

22、but no specific requirements. Define the scope of related party relationships too narrow for the listed companies manipulated profits through related party transaction has left more space.3. Pricing policies on related party transaction disclosure requirements is too simple. Accounting Standards for

23、 Enterprises - related party relationships and transactions disclosure requires listed companies in the notes to financial statements, the related party transactions pricing policy as one element of their transactions to be disclosed. However, the scope of the pricing policy, to which pricing polici

24、es can be used, different pricing policies apply to which types of transactions, etc., not to make provision. Currently, listed companies to disclose the related party transaction pricing policies varied, such as the ex-factory price, price agreements, plans price, contract price, the wholesale pric

25、e so the choice of pricing policies are also highly irregular, and did not explain the pricing basis, with non-associated party transactions are consistent pricing policies and the amount of Wen Ti the difference, the resulting public right, Accounting Standards - Related Party Relationships and Tra

26、nsactions disclosure disclosure requirement widely questioned. 4. Disclosure of information on irregular lack of effective monitoring. Currently, listed companies to disclose the actual related party relationships and transactions there are more problems: first, incomplete disclosure of related part

27、y relationships. Not many listed companies have a major impact on their companies or controlling shareholders to be disclosed as related party. Major individual investors, key management personnel and their close family members and other related parties, disclosed little. Second is the type of relat

28、ed party transactions do not grasp the accurate disclosure is not sufficient. Between related parties such as the guarantee and mortgage as a contingent liability on the license agreement, and key management personnel compensation, transfer and other receivables, the basic non-disclosure. Disclosure

29、 of related party transactions statement is too general, the current focus on disclosure of related party transactions form a large extent the disclosure, and its economic substance, the rationale behind, the production and operation of the parties to the transaction and the extent of current perfor

30、mance of the substance did not make disclosure. Third, the disclosure of related party transactions ambiguous content, such as the type of transaction, the transaction elements of the disclosure, or understatement, or incomplete, so that users of financial statements can not be clear, accurate accou

31、nting information. 4 is a fraud, in order to misconduct. All this, yet the lack of relevant rules and regulations to regulate and control. Third, disclosure of related party transactions on the normative Suggestions 1. Stock Exchanges regulatory role to play. Stock Exchange listed company to disclos

32、e the contents of the related party transactions should have the power to examine, from the relevant laws and regulations to standardize the system. Establish government regulation, industry self-discipline and social supervision Trinity regulatory framework. Information disclosure in the securities

33、 market regulation, in the same time improve the ability of government regulation. Government regulation should be established, industry self-discipline and social supervision Trinity regulatory framework.2. Establish and improve laws and regulations safeguarding the interests of small investors in the system. For related