It is necessary to focus on increasing the disclosure of accounting information in the following aspects.

1. Intellectual capital information

The most basic, important and core element of the knowledge economy is knowledge. In the future, the competition among enterprises will no longer be simply about the material wealth of enterprises and the size of enterprises, but a comprehensive competition in terms of quality and quantity of intellectual capital. The limitations of current financial reporting, which focus information disclosure on physical assets such as inventories and machinery and equipment, have become increasingly apparent. This is mainly reflected in the weakening correlation between the value of physical assets and the company's ability to create future cash flows. , and even the correlation with the current market value of the company decreases. Since intellectual capital plays an important role in the survival and development of enterprises, financial reports should reflect intellectual capital information. Intellectual capital information mainly includes corporate intangible asset information, human capital information, human resources information, etc. Enterprise intangible assets refer to the intellectual property rights, advanced technologies, patents, brand value, goodwill, etc. owned by the enterprise. If they cannot be accurately measured and included in the statements, relevant information should be disclosed through other methods. Traditional financial reports neither reflect the value of human resources nor human capital, thereby underestimating the total assets of the enterprise and ignoring the economic contribution of workers to the enterprise. Therefore, future financial reports should fully reveal and disclose human resources, a very important asset of the enterprise, and its related interests and expenses. Solving the disclosure of human resources information requires in-depth research on the theories and methods of human resources measurement, but also further involves the recognition of human capital and the resulting distribution of benefits, which is very difficult.

2. Income and risk information generated by derivative financial instruments

The country’s understanding of the true contribution of enterprises to society is conducive to the country’s scientific formulation of macro-control measures and promotion of economic development. With financial innovation, the types of derivative financial instruments such as futures and options are increasing day by day. In recent years, some banks and securities companies have launched a number of new "combinations" of derivative instruments, such as "cap, guarantee," "reinforcement," "mutual "Exchange options", "Exchange rate range futures", etc. Such derivative financial instruments may cause drastic changes in the company's future financial status and profitability. If the risks of such derivative financial instruments are not disclosed, it will pose potential risks to users of financial reports, and it is very likely to cause users of financial reports to lose investment in their investments. and credit decision-making errors. Although my country's capital market is not yet mature at this stage, derivative financial instruments are still rare, and their impact on enterprises is not large, we should also start research in this area as early as possible to cooperate with the development and improvement of our country's capital market. Reflecting the quantity, value, risk, and possibility of future earnings of an enterprise's derivative financial instruments will be one of the important contents reflected in financial reports.

3. Information on dilution of shareholders’ equity

With the development of the securities market, shareholders are very concerned about the market value of stocks. Since the book value of a company's stocks is often quite different from the market value of the stock, and the market price of the stock is always higher than the book value of the stock (this situation is particularly obvious in my country's A-share market), this provides company operators with a opportunities 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 reduced interest expenses due to the lower interest rate are converted into corporate profits, increasing corporate profits. However, on the other hand, the conversion price is lower than the stock market price. The difference will lead to the dilution of the original shareholders' equity and cause the original shareholders to suffer losses. Therefore, the company's profit increase is based on the dilution of the original shareholders' equity. Whether this is beneficial or unfavorable to the company's original shareholders is not reflected in the current financial accounting. What it reflects is only the decrease in interest expenses. Increased profits, while excluding the calculation of dilution of original shareholders' equity, will inevitably mislead investors into affirming the company's issuance of convertible bonds, making it easy to make decisions that are detrimental to their own economic interests. Therefore, financial reporting needs to be improved in this area to provide information on the dilution of shareholders' equity.

IV. Information on comprehensive income of enterprises

Accounting income refers to the difference between the realized income and corresponding expenses from transactions during the reporting period of the enterprise, and its recognition must follow the realization principle. Traditional income does not recognize unrealized gains caused by changes in market prices or expected prices, which prevents the income statement from faithfully reflecting all the company's income during the period; and puts unrealized value-added outside the income calculation, making the income The calculations lacked logical consistency, resulting in a mismatch between the proceeds from the subsequent sale of the asset and the associated costs.

When economic activities are relatively simple and currency values ??change little, there is not much difference between traditional accounting income and comprehensive income. Users of financial reports can also make more correct decisions using traditional income. However, as economic activities become more complex and currency values ??change frequently, the difference between the above two types of income is increasingly widening. In this way, if you use traditional accounting income as the basis for decision-making, you may make wrong decisions. Comprehensive income is defined as: the increase or decrease in equity (net assets) of an entity due to all reasons during the reporting period, except for transactions with owners (shareholder investment, dividend distribution).

Therefore, comprehensive income should be divided into two parts: recognized and realized net income and other recognized but unrealized gains and losses, such as unrealized property revaluation surplus, unrealized business investment gains (losses), etc.

In our country, corporate disclosure of comprehensive income has important practical significance. This is because: (1) The market value of assets in our country changes greatly. Some companies, especially old companies, have different actual values ??of assets held by accounting companies. There is a huge difference in the book value of assets. This difference must be a kind of expected profit and loss. Revealing it can more comprehensively and truly reflect the income status of the enterprise, which is beneficial to the decision-making of investors and creditors. (2) It can effectively curb enterprises from manipulating profits. Converting unrecognized gains or losses into current profits and losses through methods such as asset replacement is the most common method of profit manipulation. If comprehensive income reporting is adopted, the possibility of using this method to manipulate profits can be fundamentally eliminated. This makes accounting information more realistic. Comprehensive performance reporting is a very important content for enterprises, especially listed companies. We can learn from advanced foreign experience and choose the following processing methods: (1) Expand the income statement to include all items of financial performance; (2) ) Prepare a comprehensive income statement separately as a supplement to the traditional income statement; (3) Combine it with the statement of changes in equity, and report all components of comprehensive income together.

5. Information on corporate contributions to society

The service subjects of current corporate financial reports are mainly investors and creditors, and the content disclosed is mainly about investments and transactions with investors and creditors. The profitability and financial status related to credit decisions cannot be reflected in these statements as the true contribution of the enterprise to society, that is, the added value or added value provided by the enterprise, let alone the distribution of the contribution. Today, as the political economy becomes increasingly democratized, the shortcomings of traditional financial reporting in this area are becoming increasingly prominent. The dominance of monetary capital is gradually weakening, while the contribution proportion of human and intellectual capital is increasing. This requires financial reporting to provide these services. Information user services, the trend of political and economic democratization requires the rulers of monetary capital to announce the contribution of enterprises to society and the distribution of contributions, in order to facilitate social supervision of enterprises. Publicizing the true contribution of enterprises to society and its distribution status is conducive to coordinating the relationship between labor and capital, various capital suppliers, and the relationship between enterprises, society and the government, thereby resolving conflicts in benefit distribution and increasing synergy in benefit creation. play a positive role. Therefore, countries around the world have successively regarded the value-added statement as the fourth accounting statement after the balance sheet, profit and loss statement, and cash flow statement. Our country should promptly study the theory and preparation methods of "value-added statements", issue relevant standards, and incorporate "value-added statements" into our country's financial reporting system as soon as possible.

6. Information on enterprise consumption of natural resources and impact on the environment

Enterprises are not only creators of social wealth, but also consumers of natural resources and major polluters of the environment. There is a close relationship with the environment. Financial reports should disclose relevant information about the company's operations' consumption of resources and impact on the natural environment. There are now considerable incentives to encourage companies to adopt environmental protection methods such as controlling pollution, using renewable resources, selecting renewable materials, developing a circular economy and producing environmentally friendly products. Research shows that public enthusiasm for environmental protection mainly affects company operations from the following two aspects: On the one hand, companies may suffer direct losses for their actions, for example, they may be legally or presumptively forced to pay environmental compensation. costs of losses; or they have to pay additional taxes or suffer financial penalties when they cause pollution. On the other hand, if an entity is believed to have caused environmental pollution or engaged in other unethical behavior, it is bound to arouse considerable public hostility, which will lead to a loss of customers. If an entity has a "green" image, it is likely to attract more customers, which is why many products are now branded with environmentally friendly brands. Understanding information that affects enterprise development such as contingent liabilities arising from environmental factors, costs of pollution control, depreciation of asset values, and other environmental risk losses will help investors, creditors, managers, etc. make correct decisions. The current financial accounting reports ignore the disclosure of information in this area and are no longer adapted to the requirements of the social and economic situation in which environmental protection requirements are increasing and measures are becoming increasingly stringent. Therefore, disclosure of information on corporate environmental impacts should be part of improved financial reporting.

7. Forecast information that affects the company's future value

With the increasing development and improvement of my country's capital market, investors and potential investors are in urgent need of understanding the company's future business development. At the same time, since report users themselves have certain deficiencies in experience, technology and understanding of the company, they are unable to make reasonable predictions about the company's future situation. The company should provide users of financial reports with predictions of the company's future value trends. information. Although predictive information lacks reliable guarantee, it can overcome the shortcomings of historical information and enhance the relevance of user decision-making and evaluation, becoming an important aspect of information disclosure. Currently, my country only requires listed companies to publish profit forecast information in prospectuses and listing announcements. There are currently 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 feasible to prepare accurate and complete forecast financial reports.

In practice, many countries around the world only require listed companies to provide earnings per share forecast data. It is not only technically difficult to prepare a complete forecast financial report, but more importantly, it has no use value. When people examine a company from the perspective of their own interests, they will inevitably derive different values ??due to their different attitudes towards returns and risks. Since In this way, companies do not need to prepare comprehensive forecast financial reports. Disclosure of information on the future value trend of an enterprise should be as detailed as possible outside the balance sheet and predict some information related to the future value of the enterprise, including the enterprise's development prospects, profitability forecasts, management's long-term plans, opportunities and risks faced by the enterprise, Information about the company's internal conditions and external environment in terms of corporate investment, product market share, etc. provides useful information services for users of financial reports to predict future value trends of the company. Of course, the provision of forecast information should also pay attention to costs and benefits, and strengthen regulation and supervision to improve its standardization, accuracy and timeliness.

8. Disclosure of other non-financial information

The disclosure of non-financial information can help information users more comprehensively understand the company's business philosophy and make up for the lack of financial data information. This information generally includes: (1) Enterprise operating performance information, such as market share, user satisfaction, new product development and services, etc.; (2) Analysis and evaluation of enterprise management authorities; (3) Forward-looking information, that is, opportunities facing the enterprise and risks and plans of the management department, etc.; (4) Information about shareholders and key management personnel; (5) Background information, including the company’s business operations, asset scope and content, related parties, major competitors, and corporate development goals, etc. The disclosure of non-financial information is conducive to users of accounting information's comprehensive analysis and evaluation of enterprises and judgments about their prospects. The method of disclosing non-financial information is relatively flexible and can be explained in the form of text or data in the notes to statements, prospectuses, annual financial reports, etc.