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Correction Notice from the listed companies added to see the new guidelines for the implementation of: speculation and evidence

Author: GaoLiFang From: www.yourpaper.net Posted: 2010-01-23 09:21:42 Read:
Abstract: enterprise corporate behavior theory and the theory of evolution that is competency-based learning organization. The face of the new changes in the environment, in addition to the dominant factor in motivation, cognitive and learning abilities of the members of the enterprise, the objective conditions will affect corporate correctness and sensitivity of the reaction. Our mandatory implementation of the new standards is a major change in the business environment, the implementation of the enterprise is a learning and adaptation process. Based on theoretical speculation and corporate financial reporting to supplement the Correction Notice analytical testing confirmed that the new standards overall implementation of the stable, but also showing the transition and differences in characteristics, such as error more and perform imbalance. Therefore, improve the system, and strengthening supervision, in-depth learning the necessary measures to ensure that the new guidelines for the implementation of more smoothly. ке
Keywords: new guidelines; execution; supplement corrected bulletin ке ке ке

Our new corporate accounting standards in 2007. Implementation of the new standards is widespread concern. In this paper, based on the the corporate behavior theory and the theory of evolution, as well as the analysis of the individual cognitive psychology, that some problems are inevitable listed companies in the early stages of the implementation of the new guidelines. Supplement in the context of the implementation of the new guidelines Correction Notice the changes in the observation and analysis, can be useful to provide other information about the new guidelines for the implementation of the study confirmed and supplemented. ке

First, the new implementation of the guidelines: a theory-based speculate ке

The important features of the theory is to explain and predict. For the implementation of new standards, I think through theoretical analysis can be speculated, then accordingly substantive investigation or empirical test. The purposes of the implementation of the new guidelines, the implementation of the behavior of the enterprise and its members, before the execution of the new guidelines, there must be a learning process, the implementation of the new guidelines should also bring benefits, the new changes. So you can use the theory the corporate behavior theory and the theory of evolution, as well as cognitive psychology and learning theory. ке
(A) The theory of corporate behavior, corporate theory of evolution theory and cognitive psychology perspective ке
Corporate behavior theory is that the enterprise is essentially an adaptive rational system rather than an omniscient rational system, from the experience of learning, particularly in terms of corporate decision-making, is heavily dependent on traditional methods, general industry practice and standards operating procedures. Corporate rules to follow, can be seen as a collection, this collection includes the understanding of the nature of things, the understanding of self-awareness and the impression the understanding of appropriate behavior. All of these understandings as time progresses gradually evolved and eventually become part of the structure of the organization (Cyert et al, 2008). ке
Evolution, in short, the changes (changes). Hodge Johnson (2007), evolutionary economics, the theory of the firm "competency-based". Northrop (2008) that the knowledge of the change is the key to economic evolution, individual and organizational learning is the main driving force of the system evolution, learning ability to determine its adaptability to the environment. Particular, belongs to environmental change part of the rule changes, new rules often go through a process of learning and adapting. Learning and execution of the rules, the first premise is correct understanding. However, due to the formation and transformation of knowledge has a lag. In other words, show a kind of "inertia" of the changes did not make a timely response. Such learning of the new rules will be subject to existing rules, there are rules to become a realistic background learning new rules and constraints path. That existing rules already internalized into "practice" their "path dependence" makes new rules learning and the acquisition of new knowledge is gradual rather than abrupt, "learning by doing" is the basic way . ке
Cognitive access, storage, conversion, use, and communicate information psychological process. According of Jia Luodi (2005) theory of cognitive psychology: (1) the perception is the basis of cognitive research, the perception of the people is to give meaning to the process for the reception of sensory information. External information not only static passive receiver also includes an active choice, integration and interpretation, which is called the perception of constructivism (constructivist approach to perception). People's perception will change with practice, this perceptual learning (perceptual learning). (2) the attention of outside information limited cognitive resources and mental capacity, so people usually selective attention (selective attention). Note will be influenced by the practice, the types of tasks as well as personal intention, so pay attention to the effect of changes in (3) thinking operation information, mental set, functional fixation, the lack of barriers to knowledge or expertise about issues affecting people solve their problems thinking efficiency. (4) cognitive individual differences and gender differences, individual differences including individual differences in ability (the ability to solve cognitive tasks), individual differences in style (individual unique way) for the treatment of cognitive tasks, as well as expertise differences . ке
(B) based on the theory speculated ке
Emphasized the theory of corporate behavior and evolution theories have in common is the face of environmental change, especially the emergence of the new rules, the necessary study of the organization and its members, and the process of adaptation. The tissue reaction acumen, correctness and differences is personal cognitive abilities, limitations and differences. Therefore, the theory can at least partially explain and predict the enterprise there may be problems in the process of learning and implementation of new standards. We can get important corollary of the following two points: (1) in the process of the implementation of the new standards may be wrong more. Corporate members based on the cognitive abilities of bounded rationality, the potential interference caused by the old criteria path dependence "inertia" is wrong some objective reasons. (2) the implementation of the new standards is uneven. Prepare more fully, learning as more serious, and experts (auditors) might better help more enterprises perform Conversely poor. This is because there are individual differences of human cognition, exercise can change cognitive ability, greater cognitive abilities of people with expertise. Or that the listed companies in the early implementation of the new guidelines, will exhibit two main features: transitional (adaptability) and differences (unbalanced). ке

Second, the new implementation of the guidelines: Correction Notice Based on Supplementary evidence ке

Confirmed speculated that the observed problems in the implementation of the new standards, an important public source of information is listed on the company's financial reporting supplement Correction Notice. Financial reporting complements Correction Notice, can be said to be one of our unique institutional arrangements, and its role is to timely inform investors of the company's periodic reports errors, in order to protect the legitimate rights and interests of investors. The error of the nature and cause of the error, as reflected in the supplementary Correction Notice provides direct evidence for the inspection of the above inference. Below through the implementation of the new standards on China before and after the annual financial report added the correct analysis of the announcement, and to observe the implementation of the new guidelines. ке
Add Correction Notice, inseparable from the analysis of the cause and content of the announcement. And because of the complexity of the situation of each company announcement is the commonly used method of previous studies, cause and content of these two important matters as classification criteria, grouped together in the supplement Correction Notice. In reference Wang Liyan, et al (2003),, Zhu Xiying (2004), Chen Lingyun (2005), Qiu Dong (2005) method based on the complement of listed companies Correction Notice first from the target range is divided into two kinds of narrow and broad : narrow supplementary Correction Notice (or supplement Correction Notice), refers only to the financial report released after short-term (next periodic reports of the same type filer ago) Correction Notice supplement for this report, commonly known as "playing patch "; generalized supplement Correction Notice also contains a retroactive adjustment of prior year accounting errors. General distinction supplementary corrections retroactive adjustment is obvious: more timely corrections of the former right or wrong reporting object, the larger proportion of listed companies have taken the initiative to correct the less serious nature of the error; corrective lag time of the latter right or wrong reported object is long, high proportion of listed companies passively corrected, more serious misstatements nature. This paper mainly on the listed companies in the process of implementation of the new guidelines appear misstatements corrected this misstatement corrections apparently belongs to the author described the first narrow supplementary corrections. However, compared with the previous year, so it is necessary to distinguish between two different types of bulletin, targeted to derive conclusions. The later detailed classification based on the contents of this announcement narrow supplement Correction Notice.
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