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案例编号: FAM-0437
被浏览次数: 442 次
案例名称: *ST南钢盈亏交替背后的“自救”之旅
译名: * "Self-rescue" tour behind ST's profit and loss alternation
案例作者: 张和平,解晓龙,李玉茹,华文举,孙亚文
作者单位: 南昌大学
指导者:
译者:
背景单位名称: 南京钢铁股份有限公司
行业: 钢铁行业
规模: 大型
案例涉及的职能领域: 财务资产部门
案例语种: 中文
案例长度(页): 15 页
案例类型: 描述型
中文关键词: *ST南钢;盈余管理;非经常性损益;会计估计变更;关联交易
英文关键词: *ST Nangang; Earnings management; Non-recurring gains and losses; Changes in accounting estimates; Related transactions
中文摘要: 一个公司在上市之前要经过证监会一系列的考察以及非常严格的审批程序,上市过程非常艰难,因此,上市公司的“壳资源”显得异常珍贵,如果上市公司连续两个会计年度由会计事务所审计的净利润为负值或者最近一个会计年度上市公司股东收益比注册资本少,该上市公司就会受到证券交易所对该公司股票的特别处理警示。正因为我国的“ST”制度是上市公司退市的一个过度阶段,并且对于摘帽的监管并不严厉,这就让很多上市公司盯上了利用盈余管理方式摘帽。*ST南钢在盈亏交替之间,轮番进行保壳,一家公司几乎用遍了“非经常性损益、资产减值准备、关联交易以及会计估计变更”等盈余手段来进行利润操纵,最终成功扭亏为盈,实现摘帽。本文通过对*ST南钢成功摘帽的过程进行梳理和分析,一是引发学员思考在我国制度背景下上市公司进行盈余管理的动机;二是使学员掌握通过财务报表分析识别上市公司盈余管理的典型手段;三是希望引起投资人与监管部门对该类上市公司的高度关注,并对其可持续发展能力进行理性分析与判断。
英文摘要: A company needs to go through a series of inspections and very strict approval procedures of the China Securities Regulatory Commission prior to listing. The listing process is very difficult. Therefore, the “shell resources” of listed companies are extremely precious. If a listed company has two consecutive fiscal years from accounting If the net profit audited by the firm is negative or if the shareholder’s income of the listed company is less than the registered capital in the most recent accounting year, the listed company will be warned by the stock exchange on the special handling of the company’s stock. It is precisely because China's "ST" system is an excessive phase of the delisting of listed companies, and the supervision of decapitating hats is not strict, which makes many listed companies eyeing the use of earnings management to remove caps. *ST Nansteel maintained the shell in turns between profit and loss alternations. One company almost used the surplus means such as “non-recurring gains and losses, asset impairment preparations, related party transactions, and changes in accounting estimates” to perform profit manipulation, and ultimately succeeded in turning losses into losses. For profit, realize the cap. This article will sort out and analyze the process of successfully removing caps from *ST Nansteel. The first is to motivate students to think about the motivation for listed companies to manage their earnings under the background of China's system; second is to enable students to master the recognition of earnings management of listed companies through financial statement analysis. The third is to attract investors and supervisory authorities to pay close attention to this type of listed company, and to rationally analyze and judge its sustainable development capabilities.
适用对象: 本科生,硕士生,工商管理硕士(MBA),
编写方式: 采编
案例年代: 2017
案例入库时间: 2018-06
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