注册会计师财务尽职调查在并购医院项目中的应用研究

发布时间：2018-11-06 10:40

【摘要】：在我国,企业投资并购活动在资本市场中已经日益普遍,并购成为企业实现产业延伸和规模扩张的主要途径。近年来,随着大健康产业的迅速发展,社会资本对医院的并购活动也正在如火如荼地进行,包括复星医药、联想控股和北大医疗在内的各领域企业对医院行业的投资活动正在高速增长,但是由于医院的经营运作和财务处理不同于一般企业,加大了并购双方之间的信息不对称,注册会计师财务尽职调查作为减少信息不对称的专业手段在并购医院项目中的作用也愈加凸显,成为不可或缺的一环。注册会计师开展的财务尽职调查业务本身就是一项具有很强实践性的工作,国内外对财务尽职调查具有理论和实践指导意义的研究尚不丰富,而针对具有特殊性的并购医院项目财务尽职调查的研究更是鲜少涉猎。因此,本文将目光聚焦在这个独特领域,在与理论相结合的基础上,主要根据实践经验,对注册会计师财务尽职调查在并购医院项目中应用的重点问题进行分析,并提出相应的解决对策,为今后注册会计师开展相关领域财务尽职调查业务提供指导。本文首先对尽职调查和财务尽职调查相关的概念以及原理进行了论述,为整体文章提供理论依据和基础;然后从调查准备阶段、调查实施阶段和分析判断阶段这三个主要阶段出发,按工作顺序详细分析注册会计师财务尽职调查在并购医院项目中应用的的关键点,指出各工作阶段应该重点注意的问题以及应对策略;接着引入T公司并购C妇产医院的案例,运用前文归纳的三个阶段关键点对实际案例进行完整的分析,以此验证前文解决对策的可行性和实践意义;最后根据案例分析过程总结出案例启示,进一步完善注册会计师财务尽职调查在并购医院项目中的应用措施。本文整体的研究希望帮助注册会计师通过财务尽职调查为医疗行业的战略投资者提供更加有用的信息,提高并购成功率。
[Abstract]:In China, M & A activities have become increasingly common in the capital market, and M & A has become the main way for enterprises to achieve industrial extension and scale expansion. In recent years, with the rapid development of the big health industry, the merger and acquisition of hospitals by social capital is also in full swing, including Fosun Medicine. The investment activities of Lenovo Holdings and Peking University Medical and other enterprises in the hospital industry are growing at a high speed. However, because the operation and financial treatment of the hospital are different from those of the ordinary enterprises, the information asymmetry between the two sides of the merger and acquisition has been increased. As a professional means to reduce information asymmetry, CPA financial due diligence plays a more and more important role in M & A hospital projects. The financial due diligence business carried out by CPA is a very practical work in itself. The research on the theory and practice of financial due diligence at home and abroad is not abundant. However, there is little research on financial due diligence of M & A hospital project. Therefore, this paper focuses on this unique field, on the basis of combining with theory, mainly according to practical experience, analyzes the key issues of the application of CPA financial due diligence in M & A hospital projects. The corresponding countermeasures are put forward to provide guidance for CPA to carry out financial due diligence in related fields in the future. Firstly, this paper discusses the concepts and principles of due diligence and financial due diligence, which provides the theoretical basis and foundation for the whole article. Then, starting from the three main stages of investigation preparation, investigation implementation and analysis and judgment, the key points of the application of CPA financial due diligence in M & A hospital projects are analyzed in detail according to the work order. It points out the problems and countermeasures that should be paid attention to in each stage of work. Then introduce T company M & A C maternity hospital case, use the three key points summarized above to complete the analysis of the actual cases, so as to verify the feasibility and practical significance of the previous solutions; Finally, according to the case analysis process summarized the case enlightenment, further improve the CPA financial due diligence in M & A hospital project application measures. The purpose of this paper is to help CPA to provide more useful information for the strategic investors in the medical industry through financial due diligence and to improve the success rate of M & A.
【学位授予单位】：首都经济贸易大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：R197.322

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