投资性房地产公允价值计量的表外披露研究——以上海陆家嘴金融贸易区开发股份有限公司为例

Research on the Outer Disclosure of the Fair Value of Investment Property——A Case Study on “Lujiazui”

2006年2月财政部正式颁发新的企业会计准则(CAS)后的近十多年内,现实中不仅选择公允价值模式进行表内披露的上市企业为数不多,同时还又出现了以表外披露的形式向社会公众公布公允价值计量模式下投资性房地产信息的新情况。以表外披露模式为切入点,通过对上海陆家嘴金融贸易区开发股份有限公司的分析研究,发现选择表外披露模式的动机可能是:一方面为了提高企业融资能力以解决其融资需求,另一方面为了避免加重税负和盈余管理对企业带来的负面影响。显然,运用表外披露模式不符合上市公司信息披露的有关规定,也与会计准则相冲突。

Ten years after the promulgation of a new accounting standard of enterprises by the Chinese Ministry of Finance,there have been a few listed companies selecting the fair value model for inner disclosure on one hand,on the other hand,some listed companies,like ＂Lujiazui＂,in the form of outer disclosure,publish the information on the fair value measurement of investment property to the public. Adopting the outer disclosure mode,based on the study of Shanghai Lujiazui Finance and Trade Zone Development Co.,Ltd.,this paper finds that the reasons why the outer disclosure mode is selected lie in two aspects：one is to improve the financing ability of enterprises to meet their financing needs; the other is to avoid the negative impact of text burden and earnings management on enterprises. Obviously,the adoption of the outer disclosure mode does not conform to the relevant provisions of information disclosure of listed companies and also conflicts with accounting standards.