亚太实业利润操纵案例探析

发布时间：2018-07-13 09:49

【摘要】：近年来,关于上市公司的利润操纵问题受到社会舆论、学术界和政府监管部门的日益关注。频频曝光的利润操纵事件,使得投资者对公司的信任被动摇,作为资本市场基石的信用也面临着考验,甚至证券市场的健康发展都备受其影响。因此,上市公司的利润操纵问题成为了我国证券市场急需解决的问题之一。深入、全面地分析企业的利润操纵行为也成为了一个亟待研究的重要课题。自我国开设证券市场以来,上市公司恶意操纵利润的案件就不时地发生。近几年,我国证券市场上,进行利润操纵的上市公司数量有不断攀升的趋势,其操纵利润的手段也愈发多样、隐蔽。如今,“亚太实业利润操纵案”又曝光于人们的视野中,其操纵利润金额之大、时间之长以及影响之广,着实令人既惊讶又寒心。在监督管理如此严谨的情况下,亚太实业如此大额且历经时间较长的利润操纵丑闻,着实引发理论界和实务界的深思。本文选择以亚太实业历时五年的利润操纵案为例,通过对其财务状况和经营状况的解读,结合定性定量的财务分析,深入剖析其进行利润操纵的动因、手段及影响,以期为探究我国上市公司利润操纵的情况提供案例参考。与此同时,本文试图引发各界学者对加强企业内部会计核算准确度、完善企业内部控制体系、提升内部监督质量以及完善我国资本市场管理和相关法律法规等方面的思考。首先,对利润操纵的研究背景和意义进行了说明,再通过大量的文献阅读,陈述了国内外经典论述和近期有关上市公司利润操纵动因、上市公司利润操纵手段以及上市公司利润操纵识别的相关研究。经对比分析后,对文献进行了评述,然后又对本文所采用的研究方法和研究思路进行了相应的阐述说明。在本文深入案例探讨之前,先对利润操纵的涵义进行了界定和解析,并对易混淆的利润操纵和盈余管理进行了辨析,使得“利润操纵”这一概念得以明确;其次,从契约、资本市场和监管三个方面对上市公司进行利润操纵展开了动因理论分析;另外,整理并列示出常用的5种利润操纵手段,即虚构购销交易、提前确认收入、推迟确定费用、减少计提资产减值准备和隐瞒关联交易;最后,运用相关理论对上市公司利润操纵行为进行解释。通过对亚太实业的企业发展概况、企业管理团队以及经营管理状况的了解和分析,有助于进一步审视这家上市公司历时五年利润操纵事件的全过程。就其利润操纵的动因而言,本文主要是从规避风险、资产市场压力以及契约冲突3方面对亚太实业利润操纵动因展开分析。而利润操纵手段方面,亚太实业则主要是通过对质量索赔款进行错误的费用化处理、对长期股权交易不计提减值准备以及对销售收入的不合规确认三种手段进行的。在针对亚太实业利润操纵事件影响的分析上,本文则主要是从公司股票价格、公司价值以及公司业绩三方面分别展开的。通过对亚太实业利润操纵的动因、利润操纵的手段和利润操纵事件发生后的经济影响进行了详细深入的分析,本文不仅能够使得会计理论中利润操纵的相关方法与手段得以丰富,而且还具有一定的理论意义及学术价值。另外,鉴于亚太实业采取了不同的手段对其利润进行操纵,本文则通过定性与定量相结合的方法对亚太实业近年来财务报表进行了有关的分析和计算,同时还将其利润操纵的手段进行了详细深入的剖析。通过如此的案例分析,本文将有助于公司利益相关者更好地了解上市公司利润操纵的影响、识别上市公司利润操纵的动因和手段,从而减少其在资本市场上由于上市公司利润操纵而带来的损失。对上市公司自身和其当权的管理人员而言,本文则有助于警示上市公司内部管理者,促使其走上正确的发展之路。另外,本文还有助于执业准则制定者针对不同利润操纵手段完善准则修订以及监管部门保障国民经济健康有序发展。
[Abstract]:In recent years, the problem of profit manipulation of listed companies has been paid more and more attention by the public opinion, the academic circle and the government regulatory authorities have paid more and more attention. The frequent exposure of profit manipulation has made the trust of the investors to be shaken, the credit as the cornerstone of the capital market is also facing the test, and even the healthy development of the securities market has been affected by it. Therefore, the problem of profit manipulation of listed companies has become one of the urgent problems to be solved in the securities market of our country. It is an important issue to study the profit manipulation of the enterprises in an all-round way. Since the securities market in China has opened the securities market, the cases of maliciously manipulating Li run by the listed companies have happened from time to time. In recent years, China's certificate has been proved. In the voucher market, the number of listed companies with profit manipulation has been increasing, and its means of manipulating profits are also increasingly diverse and concealed. Now, the "Asia Pacific industrial profit manipulation case" has been exposed to the people's vision, which is both astonishing and cold. In such a strict case, the scandals of the profit manipulation of the Asia Pacific industry with such a large amount of time and a long period of time have caused the deep thought of the theoretical and practical circles. This article chooses the case of five years' profit manipulation in the Asia Pacific industry as an example, and through the financial analysis of its financial situation and management situation and the qualitative and quantitative financial analysis, it is deeply dissect. The reasons, means and effects of profit manipulation are given in order to provide a case reference for exploring the profit manipulation of Listed Companies in China. At the same time, this article tries to arouse the scholars from all walks of life to strengthen the internal accounting accuracy, improve the internal control system, improve the quality of internal supervision and improve the management of China's capital market. First, it explains the background and significance of the research on profit manipulation, and then through a large number of literature reading, it states the domestic and foreign classical exposition and the recent profit manipulation motivation of the listed companies, the profit manipulation means of listed companies and the related research on the profit manipulation identification of listed companies. After the analysis, the literature was reviewed, and then the research methods and research ideas adopted in this paper were explained. The meaning of profit manipulation was defined and analyzed before the in-depth case study, and the confusing profit manipulation and earnings management were identified to make "profit manipulation". This concept is clearly defined. Secondly, the theoretical analysis of profit manipulation of listed companies is carried out from three aspects of contract, capital market and supervision. In addition, 5 kinds of common means of profit manipulation are listed and listed, that is, fictional purchase and sale transaction, early confirmation of income, late determination of cost, reduction of asset impairment preparation and conceal Association In the end, we use relevant theories to explain the profit manipulation of the listed companies. Through the general survey of the development of enterprises in the Asia Pacific industry, the understanding and analysis of the management team and the management situation, it is helpful to further examine the whole process of the five year profit manipulation of the listed company. In this paper, we mainly analyze the profit manipulation motivation of the Asia Pacific industry from 3 aspects: risk avoidance, asset market pressure and contract conflict. According to the analysis of the impact of the profit manipulation of the Asia Pacific industry, this article is mainly from the three aspects of the company's stock price, the company value and the company's performance. The economic impact on the profit manipulation of the Asia Pacific industry, the means of profit manipulation and the economic effect after the profit manipulation event occurred. In detail, this paper not only enriches the related methods and means of profit manipulation in the accounting theory, but also has some theoretical significance and academic value. In addition, in view of the different means to manipulate its profit by the Asia-Pacific industry, the paper combines the method of qualitative and quantitative to Asia. The financial statements of Tai industry have been analyzed and calculated in recent years, and the means of profit manipulation are also analyzed in detail. Through such case analysis, this paper will help the stakeholders to better understand the influence of profit manipulation of listed companies, identify the motivation and means of profit manipulation of listed companies, To reduce the losses caused by the profit manipulation of the listed companies in the capital market. For the listed companies themselves and their authority managers, this article will help to warn the internal managers of the listed companies and make them go on the right path of development. In addition, this article also helps the practice standards makers to deal with different profit manipulation methods. We should improve the revision of standards and ensure the healthy and orderly development of the national economy.
【学位授予单位】：江西财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.51;F275

【参考文献】