One,

At present, the most critical and fierce criticism of financial reports is its relevance. The current financial report only pays attention to the past but not the future, only attaches importance to monetary information and ignores non-monetary information, only reflects the results of enterprise economic activities, and cannot reflect the impact of enterprise economic activities on society, etc., which increasingly affects the relevance of financial reports. One of the foundations of the existence of financial reports is the usefulness of decision-making, that is, providing useful information for interest groups that have interests with enterprises. If financial reports can't provide useful information for these information users, then the rationality of the existence of financial statements is bound to be questioned.

According to the current economic environment and its future development trend, the author believes that there are eight main problems in the current financial report.

First of all, we should pay attention to the disclosure of income and risk information generated by derivative financial instruments.

With the financial innovation, the types of derivative financial instruments, such as futures and options, which are not actually traded but only the rights or obligations of future economic interests are becoming more and more complex, which may cause drastic changes in the future financial situation and profitability of enterprises. If the risks of such derivative financial instruments are not disclosed, it is likely that users of financial reports will make mistakes in investment and credit. Although China's capital market is not mature at this stage, derivative financial instruments are rare, and the impact on enterprises is not great, we should start research in this area as soon as possible to cooperate with the development and perfection of China's capital market.

Second, we should pay attention to the disclosure of human resources information.

With the advent of the era of knowledge economy, the limitations of current financial reports focusing on physical assets such as inventory, machinery and equipment are becoming increasingly obvious, mainly manifested in the weakening of the correlation between the value of physical assets and the ability of enterprises to create future cash flows, and even the weakening of the correlation with the current market value of enterprises. Under the current accounting system, the expenditure on manpower, regardless of the amount, is regarded as the current expense, which greatly underestimates the human assets and greatly increases the expenses. This is also one of the main reasons why the current financial report has been criticized more and more. To solve the problem of human resource information disclosure, it is necessary to study the theory and method of human resource measurement, and further involve the confirmation of human capital and the distribution of benefits arising therefrom, which is very difficult and should be studied as an important subject of accounting discipline.

Three. The information that shareholders' rights and interests are diluted shall be disclosed.

With the joint-stock company becoming the mainstream of enterprise organization and the development of securities market, especially the increase and popularization of property rights trading securities caused by financial innovation, the source of shareholders' economic benefits is not limited to company profits, but more from the market price difference of stocks. This makes shareholders very concerned about the market value of stocks. Because the book value of the company's stock is often quite different from the market value of the stock, and the market value of the stock is mostly higher than the book value of the stock (especially in China A-share market), this provides the company's operators with the opportunity to increase profits through equity exchange. For example, when a company issues convertible bonds, it can reduce the bond interest by lowering the conversion price. The interest expenses reduced due to the reduction of interest rates will be converted into corporate profits and increase corporate profits. However, the difference between the conversion price and the stock market price will lead to the dilution of the original shareholders' rights and interests, which will cause the original shareholders to suffer losses. Therefore, it can be said that this profit increase of the company is based on the dilution of the original shareholders' rights and interests. Whether this profit increase is beneficial to the original shareholders of the company is not reflected in the current financial accounting. It only reflects the increased profits due to the reduction of interest expenses, excluding the accounting of the dilution of the original shareholders' equity. The disclosure of this information will inevitably mislead investors to affirm the company's issuance of convertible bonds, thus making it easy to make decisions that are detrimental to their own economic interests. Therefore, it is necessary to improve the financial report in this respect and provide information on dilution of shareholders' rights and interests.

Fourth, we should pay attention to the disclosure of comprehensive income information of enterprises.

The income in the current financial report is based on the assumption that the currency is unchanged, which is not much different from the comprehensive income when the economic activity is relatively simple and the currency changes little. Users of financial reports can also use this income to make more correct decisions. However, with the complexity of economic activities and frequent changes in market value, the gap between this traditional accounting income and the real comprehensive income of enterprises is widening day by day. In this way, if the traditional accounting income is used as the basis for decision-making, it is possible to make wrong decisions.

Comprehensive income includes not only realized and confirmed gains and losses in the current income statement, but also unrealized gains or losses, such as unrealized property revaluation surplus, unrealized business investment gains/losses, foreign currency translation difference of net investment, etc.

In our country, it is of great practical significance for enterprises to disclose comprehensive income, because: First, the market value of our country has changed greatly, and the actual value of assets held by some enterprises, especially old enterprises, is quite different from the value of assets in accounting books. This difference must be an expected profit and loss. Revealing it can reflect the income of enterprises more comprehensively and truly, which is beneficial to the decision-making of investors and lenders. Second, it can effectively curb enterprises to manipulate profits or whitewash performance. It is the most common method to manipulate profits by converting unconfirmed profits and losses into current profits and losses through asset replacement. If comprehensive income report is adopted, it will fundamentally eliminate the possibility of manipulating profits, thus making accounting information more true. Because of this, our country should step up the research in this field and formulate the rules of comprehensive income information disclosure as soon as possible.

Five, should pay attention to the disclosure of the company's future value trend forecast information.

Generally speaking, the relevance of financial reports is of great significance. The design of traditional financial report itself also tries to do this. In the case of little change in the economic environment, people can simply infer the future of the enterprise with financial reports that reflect the causal relationship between past operating results and behaviors, but under the condition of drastic changes in the economic environment, it is impossible for people to directly infer the future of the enterprise with past financial reports. This leads to a decrease in the relevance of financial reports. The idea to solve this problem is to provide the users of financial reports with the forecast information of the future value trend of enterprises.

At present, there are different understandings and practices on how to disclose forecast information. Theoretically, the best form of disclosure is a complete forecast financial report, but in practice, it is very difficult and infeasible to compile an accurate and complete forecast financial report. In practice, many countries in the world only require listed companies to provide forecast data of earnings per share. The author believes that compiling a complete predictive financial report is not only technically difficult, but also of no use value. Because different people look at a company from the perspective of their own interests, they will inevitably get different values because of their different attitudes towards income and risk. In this case, it is not necessary for enterprises to prepare a comprehensive forecast financial report. To disclose the trend information of enterprise's future value should be to disclose some information related to predicting enterprise's future value in detail as far as possible off the balance sheet, such as enterprise's investment, product market share, material cost fluctuation, new product development and other aspects of enterprise's internal conditions and external environment information. So as to provide useful information services for users of financial reports to predict the future value trend of enterprises.

Six, should prepare a value-added table, reflecting the enterprise's contribution to society and its contribution distribution.

At present, the company's financial report mainly serves investors and creditors, and the contents disclosed are mainly the profitability and financial status related to the investment and credit decisions of investors and creditors. These reports cannot reflect the real contribution of enterprises to society, that is, the added value or added value provided by enterprises, let alone the distribution of contributions. In today's increasingly democratic politics and economy, the shortcomings of traditional financial reports in this respect are increasingly prominent. First, the dominant position of monetary capital is gradually weakening, while the contribution ratio of human and intellectual capital is increasing, which requires financial reports to serve these information users; Second, the trend of political and economic democratization requires the dominator of monetary capital to announce the contribution and contribution distribution of enterprises to society, so as to facilitate the supervision of enterprises by society; Third, publishing the true contribution of enterprises to society and its distribution is conducive to coordinating the relations between employers and employees, various capital suppliers, enterprises, society and the state government, thus playing a positive role in resolving the contradiction of interest distribution and increasing the resultant force of interest creation; Fourth, the state's understanding of the true contribution of enterprises to society is conducive to the scientific formulation of macro-control measures and the promotion of economic development. Because of this, Britain added value-added statement to the company report published in 1975, and regarded it as the fourth accounting statement after balance sheet, income statement and cash flow statement. After Britain, many countries, such as Holland, West Germany, Denmark, France, Italy, Norway, Switzerland, Sweden, Australia, New Zealand, Singapore and so on. , has also begun to compile tables, and some have even been announced to the public.

Since the "value-added statement" has so many functions and has been compiled by so many countries, why doesn't China regard it as one of the main financial statements of China enterprises? The author believes that in China, we should pay close attention to the research on the theory of "value-added statement" and its compilation method, issue relevant guidelines, and incorporate "value-added statement" into China's financial reporting system as soon as possible.

Seven, should pay attention to the information disclosure of enterprise environmental impact.

Enterprise is not only the creator of social wealth, but also the main polluter of the environment, which has a close relationship with the environment. The influence of environment on the survival and development of enterprises can be investigated from the following two aspects: first, the influence of environment itself on the survival and development of enterprises; The second is the influence of social causes caused by the environment on the survival and development of enterprises. It is of great significance for investors, creditors, managers and other interest groups related to enterprises to understand the influence of environment on the survival and development of enterprises. First of all, survival is related to whether an enterprise can continue to operate. If an enterprise cannot continue to operate, then the accounting information based on continuing operation is meaningless. Secondly, understanding the environmental risk losses caused by environmental factors, such as contingent liabilities, pollution control costs and asset depreciation, is helpful for investors, creditors and managers to make correct decisions. The current financial accounting ignores the disclosure of these information, which has not adapted to the requirements of the social and economic situation with increasingly high environmental protection requirements and stricter measures. Therefore, the disclosure of enterprise environmental impact information should be one of the contents of improving financial reporting.

At present, China is one of the countries with serious pollution in the world. In this case, it is of great significance to establish the information disclosure method and system of enterprises' impact on the environment for China to control pollution and improve the environment.

Eight, should reveal the consumption of natural resources by enterprises.

With the progress of science and technology and the deepening of human understanding of nature, people have a better understanding of the finiteness of natural resources and wealth, that is, the scope of wealth has expanded from artificial wealth to the sum of artificial wealth and natural wealth. Enterprises are producers of artificial wealth and the biggest consumers of natural wealth. Whether an enterprise contributes to the growth of social wealth depends on whether the artificial wealth it creates can make up for the natural wealth it consumes. Obviously, the existing financial reports that only calculate the gains and losses of investors' invested capital cannot provide this information. Therefore, it is necessary to improve it.

Second,

The financial analysis report is a comprehensive summary and high reflection of the enterprise's operating conditions and capital operation. However, it is not easy to write high-quality financial analysis reports. The author believes that when writing financial reports, the following six points are worth noting:

First of all, we should make clear the object of reading the report (the object of reading the internal management report is mainly the company managers, especially the leaders) and the scope of report analysis. The writing of the report should be different for different readers. For example, the report provided to the leaders of the financial department can be professional, while the report provided to the leaders of other departments, especially those who are quite unfamiliar with this major, should strive to be popular; At the same time, the analysis report provided to readers at different levels requires analysts to accurately grasp the framework and analysis level of the report in writing to meet the needs of different readers. For another example, if the scope of report analysis is a department or a secondary company, then the analysis content can be a little more detailed and specific; If the object of analysis is the whole group company, then the text analysis should be concise and not comprehensive, but should focus on several key issues.

Second, understand the information needs of readers and fully understand what information leaders need. I remember once communicating with the leader of the business department. He said with deep feelings: The financial analysis report you gave me is rich in content and long in writing. It should be said that I spent a lot of thought. Unfortunately, I don't need much information, but I want too little information. The analysis report that we work hard to make every month was originally for business, but what is it actually? What's the problem? In my opinion, the premise of writing a good financial analysis report is that financial analysts should communicate with leaders as much as possible and capture their "real information".

Third, before writing the report, we must have a clear framework and analysis ideas. The framework of financial analysis report is as follows: report directory-important tips-report summary-specific analysis-summary of key issues and corresponding improvement measures. "Report Catalogue" tells readers the contents and page numbers of this report analysis; "Important Tips" mainly explain in advance the new contents or new problems that need to be highly valued in this report, so as to attract the attention of leaders; "Summary of the report" is a highly condensed content of this report, so it must be concise. No matter "Important Tips" or "Report Summary", the page number where the specific analysis is located should be marked at the back, so that leaders can consult the corresponding analysis content in time. The above three parts are very necessary, and its purpose is to let the leaders have an overall understanding of the report and the major issues that this report will inform in the shortest time. On the one hand, the summary of key problems and corresponding improvement measures is a follow-up report on the implementation of the problems in the last report, and at the same time, it focuses on the key problems revealed in the "specific analysis" part of this report, aiming at centralized and decentralized analysis and impressing the leaders again.

The "concrete analysis" part is the core content of the report analysis. How to write the "concrete analysis" part determines the analysis quality and grade of this report. If you want to write this part brilliantly, you must first have good analytical thinking. For example, a group company has four secondary companies, all of which are manufacturing companies. The analysis idea of financial report is: overall index analysis-situation analysis of group headquarters-situation analysis of secondary companies; Each part, according to this month's analysis-this year's cumulative analysis; Then make profitability analysis-sales analysis-cost control analysis. In this way, the layers are decomposed and interlocked, and there is a close relationship between each part and within each part.

Fourth, the financial analysis report must be closely integrated with the company's business, deeply understand the business background behind the financial data, and effectively reveal the problems existing in the business process. When making an analysis report, financial personnel often work behind closed doors because they don't understand the business, thus falling into a passive situation of discussing data, and the analysis conclusions are often ridiculous. Therefore, it should be emphasized that all kinds of financial data are not just the simple patchwork and summation of figures in the usual sense. Behind every financial data is a very vivid increase or decrease, the occurrence of expenses, the repayment of liabilities and so on. Through the understanding and observation of business, financial analysts have professional judgment on the sensitivity of financial data, which can judge the rationality and compliance of economic business, and the analysis report written from this can really provide useful decision-making information for business departments. After all, financial data is only an intermediary (it is a true reflection of various businesses, or it is called business mapping), so the analysis report based on financial data is frustrated by the important quality characteristics of data, and the "usefulness" of the report is naturally impossible to talk about.

Five, the analysis method of financial analysis report. How can we make the report vivid and have its own characteristics? The following are just a few things I learned in the process of writing the report:

(a) the analysis should follow the principle of difference-cause analysis-suggested measures. Because the fundamental purpose of writing financial analysis report is not only to reflect and reveal problems, but to put forward reasonable and feasible solutions through in-depth analysis of problems and truly assume the important role of "financial consultant". Only in this way can the usefulness or weight of the report be improved and sublimated.

(2) The analysis of specific problems adopts the method of coexistence of intersection principle and importance principle to reveal abnormal situations. For example, a company has 36 overseas agencies. In order to analyze the monthly cost control and work efficiency of overseas institutions, we take "per capita travel expenses" as one of the assessment indicators. In the analysis, we compare the growth amount (absolute number) and the growth rate (relative number) through comparative analysis, and reveal the overseas institutions with abnormal expenses and low efficiency. We rank the top ten overseas institutions in terms of cost growth (defined as set A) and the top ten overseas institutions in terms of growth rate (defined as set B), and define set C=A∩B, then all overseas institutions in set C are listed. However, the intersection principle does not necessarily reveal all the abnormal expenses of foreign institutions, so the "importance principle" is essential. When applying the principle of intersection, we should have the consciousness of the principle of importance in our minds; When applying the principle of importance, flash sets are rarely thought of. In short, financial analysts should always "pay attention to key issues and major issues", which is reflected in dialectics as a key theory based on two-point theory.

(3) Problem concentration method can also be called focus mapping method. This analysis method is mainly based on the following ideas: in each part of the analysis, we have made a scattered analysis of the problems existing in the business process from different angles. These problems are like a mapping table, with different analysis angles on the left and problematic departments on the right. Each analysis angle can map one department or expense item, or multiple departments or expense items. Because the problems analyzed in each part are not systematic, the impression left to the leaders is scattered and the key problems are not prominent; Through the monthly analysis report, leaders aim to grasp several key issues and achieve their goals. Therefore, on the one hand, financial analysts should consciously know the key issues that may exist this month when making specific analysis (financial analysts who are sensitive to financial data can feel the major anomalies that may exist this month when sorting out the data), on the other hand, they should be good at screening out one or two key issues from the previous scattered analysis.

Six, other issues that should be paid attention to in the process of analysis.

(1) Have an accurate grasp of the company's policies, especially the major principles and policies of the company in recent years. Under the premise of thoroughly understanding the spirit of the company's policy, the analysis should be based on the present and aim at the future as much as possible, so that the analysis report can play the role of "navigator";

(2) Financial personnel should know more about the national macroeconomic environment in their daily work, especially try to capture and collect the information of competitors in the same industry. Because, the company finally faces a complex and changeable market. In this big market, any change in the macro-economic environment, or changes in the policies of competitors in the industry, will affect the competitiveness of the company more or less, and even determine the fate of the company.

(3) Don't jump to conclusions easily. All the concluding remarks of financial analysts in the report have great influence on the readers of the report. If financial analysts jump to conclusions in their analysis, it is likely to be misleading. For example, at present, the accounting of many domestic companies is not standardized, and the actual occurrence period of expenses is often inconsistent with the reimbursement period. If financial analysts don't understand the time lag of accounting, it is easy to draw wrong conclusions;

(4) The writing of the analysis report should be fluent, fluent, concise and to the point, and avoid colloquialism and verbosity.